Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2015 | Apr. 24, 2015 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | PNC | |
Entity Registrant Name | PNC FINANCIAL SERVICES GROUP, INC. | |
Entity Central Index Key | 713676 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 517,920,355 |
Consolidated_Income_Statement
Consolidated Income Statement (USD $) | 3 Months Ended | |||
Mar. 31, 2015 | Mar. 31, 2014 | |||
Interest Income | ||||
Loans | $1,802,000,000 | $1,899,000,000 | ||
Investment securities | 406,000,000 | 427,000,000 | ||
Other | 111,000,000 | 84,000,000 | ||
Total interest income | 2,319,000,000 | 2,410,000,000 | ||
Interest Expense | ||||
Deposits | 92,000,000 | 78,000,000 | ||
Borrowed funds | 155,000,000 | 137,000,000 | ||
Total interest expense | 247,000,000 | 215,000,000 | ||
Net interest income | 2,072,000,000 | 2,195,000,000 | ||
Noninterest Income | ||||
Asset management | 376,000,000 | 364,000,000 | ||
Consumer services | 311,000,000 | 290,000,000 | ||
Corporate services | 344,000,000 | 301,000,000 | ||
Residential mortgage | 164,000,000 | 161,000,000 | ||
Service charges on deposits | 153,000,000 | 147,000,000 | ||
Net gains on sales of securities | 42,000,000 | 10,000,000 | ||
Other-than-temporary impairments | -2,000,000 | -2,000,000 | ||
Less: Noncredit portion of other-than-temporary impairments (a) | -1,000,000 | [1] | 0 | [1] |
Net other-than-temporary impairments | -1,000,000 | -2,000,000 | ||
Other | 270,000,000 | 311,000,000 | ||
Total noninterest income | 1,659,000,000 | 1,582,000,000 | ||
Total revenue | 3,731,000,000 | 3,777,000,000 | ||
Provision For Credit Losses | 54,000,000 | 94,000,000 | ||
Noninterest Expense | ||||
Personnel | 1,157,000,000 | 1,080,000,000 | ||
Occupancy | 216,000,000 | 218,000,000 | ||
Equipment | 222,000,000 | 201,000,000 | ||
Marketing | 62,000,000 | 52,000,000 | ||
Other | 692,000,000 | 713,000,000 | ||
Total noninterest expense | 2,349,000,000 | 2,264,000,000 | ||
Income (loss) before income taxes and noncontrolling interests | 1,328,000,000 | 1,419,000,000 | ||
Income taxes | 324,000,000 | 359,000,000 | ||
Net income | 1,004,000,000 | 1,060,000,000 | ||
Net income (loss) attributable to noncontrolling interests | 1,000,000 | -2,000,000 | ||
Preferred stock dividends and discount accretion and redemptions | 70,000,000 | 70,000,000 | ||
Net income attributable to common shareholders | $933,000,000 | $992,000,000 | ||
Earnings Per Common Share | ||||
Basic | $1.79 | $1.86 | ||
Diluted | $1.75 | $1.82 | ||
Average Common Shares Outstanding | ||||
Basic | 521,000,000 | 532,000,000 | ||
Diluted | 529,000,000 | 539,000,000 | ||
[1] | Included in accumulated other comprehensive income (loss). The amount for the first quarter of 2014 was less than $.5 million. |
Consolidated_Statement_of_Comp
Consolidated Statement of Comprehensive Income (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Net income | $1,004,000,000 | $1,060,000,000 |
Other Comprehensive Income (Loss), before Tax [Abstract] | ||
Net unrealized gains (losses) on non-OTTI securities | 74,000,000 | 189,000,000 |
Net unrealized gains (losses) on OTTI securities | 3,000,000 | 66,000,000 |
Net unrealized gains (losses) on cash flow hedge derivatives | 239,000,000 | -5,000,000 |
Pension and other postretirement benefit plan adjustments | 60,000,000 | 82,000,000 |
Other | -27,000,000 | 11,000,000 |
Other comprehensive income (loss), before tax and net of reclassifications into Net income | 349,000,000 | 343,000,000 |
Income tax benefit (expense) related to items of other comprehensive income | -149,000,000 | -123,000,000 |
Other comprehensive income (loss), after tax and net of reclassifications into Net income | 200,000,000 | 220,000,000 |
Comprehensive income | 1,204,000,000 | 1,280,000,000 |
Less: Comprehensive income (loss) attributable to noncontrolling interests (a) | 1,000,000 | -2,000,000 |
Comprehensive income attributable to PNC | $1,203,000,000 | $1,282,000,000 |
Consolidated_Balance_Sheet
Consolidated Balance Sheet (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | ||
Assets | ||||
Cash and due from banks (includes $6 and $6 for VIEs) (a) | $4,151,000,000 | [1] | $4,360,000,000 | [1] |
Federal funds sold and resale agreements (includes $151 and $155 measured at fair value) (b) | 1,893,000,000 | [2] | 1,852,000,000 | [2] |
Trading securities | 2,151,000,000 | 2,353,000,000 | ||
Interest-earning deposits with banks (includes $6 and $6 for VIEs) (a) | 31,198,000,000 | [1] | 31,779,000,000 | [1] |
Loans held for sale (includes $2,207 and $2,154 measured at fair value) (b) | 2,423,000,000 | [2] | 2,262,000,000 | [2] |
Investment securities | 60,768,000,000 | 55,823,000,000 | ||
Loans (includes $1,486 and $1,606 for VIEs) (a) (includes $1,001 and $1,034 measured at fair value) (b) | 204,722,000,000 | [1],[2] | 204,817,000,000 | [1],[2] |
Allowance for loan and lease losses (includes $(46) and $(50) for VIEs) (a) | -3,306,000,000 | [1] | -3,331,000,000 | [1] |
Net loans | 201,416,000,000 | 201,486,000,000 | ||
Goodwill | 9,103,000,000 | 9,103,000,000 | ||
Mortgage servicing rights | 1,333,000,000 | 1,351,000,000 | ||
Other intangible assets | 463,000,000 | 493,000,000 | ||
Equity investments (includes $334 and $492 for VIEs) (a) | 10,523,000,000 | [1] | 10,728,000,000 | [1] |
Other (includes $434 and $483 for VIEs) (a) (includes $418 and $412 measured at fair value) (b) | 25,538,000,000 | [1],[2] | 23,482,000,000 | [1],[2] |
Total assets | 350,960,000,000 | 345,072,000,000 | ||
Deposits | ||||
Noninterest-bearing | 74,944,000,000 | 73,479,000,000 | ||
Interest-bearing | 161,559,000,000 | 158,755,000,000 | ||
Total deposits | 236,503,000,000 | 232,234,000,000 | ||
Borrowed funds | ||||
Federal funds purchased and repurchase agreements | 2,202,000,000 | 3,510,000,000 | ||
Federal Home Loan Bank Borrowings | 21,224,000,000 | 20,005,000,000 | ||
Bank notes and senior debt | 16,205,000,000 | 15,750,000,000 | ||
Subordinated debt | 9,228,000,000 | 9,151,000,000 | ||
Commercial paper | 4,399,000,000 | 4,995,000,000 | ||
Other (includes $341 and $347 for VIEs) (a) (includes $238 and $273 measured at fair value) (b) | 3,571,000,000 | [1],[2] | 3,357,000,000 | [1],[2] |
Borrowed funds | 56,829,000,000 | 56,768,000,000 | ||
Allowance for unfunded loan commitments and letters of credit | 234,000,000 | 259,000,000 | ||
Accrued expenses (includes $69 and $70 for VIEs) (a) | 5,039,000,000 | [1] | 5,187,000,000 | [1] |
Other (includes $142 and $206 for VIEs) (a) | 5,917,000,000 | [1] | 4,550,000,000 | [1] |
Total liabilities | 304,522,000,000 | 298,998,000,000 | ||
Equity | ||||
Preferred stock (c) | 0 | [3] | 0 | [3] |
Common stock ($5 par value, authorized 800 shares, issued 541 shares) | 2,706,000,000 | 2,705,000,000 | ||
Capital surplus - preferred stock | 3,948,000,000 | 3,946,000,000 | ||
Capital surplus - common stock and other | 12,561,000,000 | 12,627,000,000 | ||
Retained earnings | 26,882,000,000 | 26,200,000,000 | ||
Accumulated other comprehensive income | 703,000,000 | 503,000,000 | ||
Common stock held in treasury at cost: 21 and 18 shares | -1,775,000,000 | -1,430,000,000 | ||
Total shareholders' equity | 45,025,000,000 | 44,551,000,000 | ||
Noncontrolling interests | 1,413,000,000 | 1,523,000,000 | ||
Total equity | 46,438,000,000 | 46,074,000,000 | ||
Total liabilities and equity | $350,960,000,000 | $345,072,000,000 | ||
[1] | Amounts represent the assets or liabilities of consolidated variable interest entities (VIEs). | |||
[2] | Amounts represent items for which we have elected the fair value option. | |||
[3] | Par value less than $.5 million at each date. |
Consolidated_Balance_Sheet_Par
Consolidated Balance Sheet (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | ||
Share data in Millions, except Per Share data, unless otherwise specified | ||||
Cash and due from banks | $4,151,000,000 | [1] | $4,360,000,000 | [1] |
Interest-earning deposits with banks | 31,198,000,000 | [1] | 31,779,000,000 | [1] |
Loans | 204,722,000,000 | [1],[2] | 204,817,000,000 | [1],[2] |
Allowance for loan and lease losses | -3,306,000,000 | [1] | -3,331,000,000 | [1] |
Equity investments | 10,523,000,000 | [1] | 10,728,000,000 | [1] |
Other assets | 25,538,000,000 | [1],[2] | 23,482,000,000 | [1],[2] |
Other borrowed funds | 3,571,000,000 | [1],[2] | 3,357,000,000 | [1],[2] |
Accrued expenses | 5,039,000,000 | [1] | 5,187,000,000 | [1] |
Other liabilities | 5,917,000,000 | [1] | 4,550,000,000 | [1] |
Common stock, par value | $5 | $5 | ||
Common stock, authorized | 800 | 800 | ||
Common stock, issued | 541 | 541 | ||
Common stock held in treasury at cost, shares | 21 | 18 | ||
Preferred stock (d) | 500,000 | [3] | 500,000 | [3] |
Portion at Fair Value, Fair Value Disclosure | ||||
Federal funds sold and resale agreements, fair value | 151,000,000 | [2] | 155,000,000 | [2] |
Loans held for sale, fair value | 2,207,000,000 | [2] | 2,154,000,000 | [2] |
Loans, Fair Value | 1,001,000,000 | [2] | 1,034,000,000 | [2] |
Other assets, fair value | 418,000,000 | [2] | 412,000,000 | [2] |
Other borrowed funds, fair value | 238,000,000 | [2] | 273,000,000 | [2] |
Variable Interest Entity, Primary Beneficiary [Member] | ||||
Cash and due from banks | 6,000,000 | [1] | 6,000,000 | [1] |
Interest-earning deposits with banks | 6,000,000 | [1] | 6,000,000 | [1] |
Loans | 1,486,000,000 | [1] | 1,606,000,000 | [1] |
Allowance for loan and lease losses | -46,000,000 | [1] | -50,000,000 | [1] |
Equity investments | 334,000,000 | [1] | 492,000,000 | [1] |
Other assets | 434,000,000 | [1] | 483,000,000 | [1] |
Other borrowed funds | 341,000,000 | [1] | 347,000,000 | [1] |
Accrued expenses | 69,000,000 | [1] | 70,000,000 | [1] |
Other liabilities | $142,000,000 | [1] | $206,000,000 | [1] |
[1] | Amounts represent the assets or liabilities of consolidated variable interest entities (VIEs). | |||
[2] | Amounts represent items for which we have elected the fair value option. | |||
[3] | Par value less than $.5 million at each date. |
Consolidated_Statement_of_Cash
Consolidated Statement of Cash Flows (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | ||
Operating Activities | |||
Net income | $1,004,000,000 | $1,060,000,000 | |
Adjustments to reconcile net income to net cash provided (used) by operating activities | |||
Provision for credit losses (benefit) | 54,000,000 | 94,000,000 | |
Depreciation and amortization | 252,000,000 | 236,000,000 | |
Deferred income taxes | 40,000,000 | 17,000,000 | |
Net gains on sales of securities | -42,000,000 | -10,000,000 | |
Net other-than-temporary impairments | 1,000,000 | 2,000,000 | |
Changes in fair value of mortgage servicing rights | 143,000,000 | 125,000,000 | |
Gain on sales of Visa Class B common shares | -62,000,000 | ||
Undistributed earnings of BlackRock | -96,000,000 | -101,000,000 | |
Excess tax benefits from share-based payment arrangements | -18,000,000 | -16,000,000 | |
Net change in | |||
Trading securities and other short-term investments | -229,000,000 | 616,000,000 | |
Loans held for sale | -268,000,000 | -12,000,000 | |
Other assets | -1,449,000,000 | -356,000,000 | |
Accrued expenses and other liabilities | 1,044,000,000 | 356,000,000 | |
Other | -194,000,000 | -29,000,000 | |
Net cash provided (used) by operating activities | 242,000,000 | 1,920,000,000 | |
Sales | |||
Securities available for sale | 1,787,000,000 | 1,347,000,000 | |
Loans | 389,000,000 | 697,000,000 | |
Repayments/maturities | |||
Securities available for sale | 1,762,000,000 | 1,654,000,000 | |
Securities held to maturity | 486,000,000 | 520,000,000 | |
Purchases | |||
Securities available for sale | -6,170,000,000 | -1,690,000,000 | |
Securities held to maturity | -2,000,000,000 | ||
Loans | -242,000,000 | -216,000,000 | |
Net change in | |||
Federal funds sold and resale agreements | -41,000,000 | 842,000,000 | |
Interest-earning deposits with banks | 581,000,000 | -2,741,000,000 | |
Loans | -173,000,000 | -3,318,000,000 | |
Other | -265,000,000 | -80,000,000 | |
Net cash provided (used) by investing activities | -3,886,000,000 | -2,985,000,000 | |
Net change in | |||
Noninterest-bearing deposits | 1,488,000,000 | -254,000,000 | |
Interest-bearing deposits | 2,804,000,000 | 1,694,000,000 | |
Federal funds purchased and repurchase agreements | -1,308,000,000 | -1,055,000,000 | |
Commercial paper | -109,000,000 | -19,000,000 | |
Other borrowed funds | 1,104,000,000 | -626,000,000 | |
Sales/issuances | |||
Federal Home Loan Bank borrowings | 1,250,000,000 | 4,000,000,000 | |
Bank notes and senior debt | 1,743,000,000 | 1,743,000,000 | |
Commercial paper | 1,322,000,000 | 3,152,000,000 | |
Other borrowed funds | 549,000,000 | 335,000,000 | |
Common and treasury stock | 60,000,000 | 126,000,000 | |
Repayments Maturities Financing [Abstract] | |||
Federal Home Loan Bank borrowings | -31,000,000 | -3,001,000,000 | |
Bank notes and senior debt | -1,397,000,000 | -495,000,000 | |
Subordinated debt | 14,000,000 | 16,000,000 | |
Commercial paper | -1,809,000,000 | -3,207,000,000 | |
Other borrowed funds | -1,481,000,000 | -336,000,000 | |
Excess tax benefits from share-based payment arrangements - financing | 18,000,000 | 16,000,000 | |
Acquisition of treasury stock | -463,000,000 | -41,000,000 | |
Preferred stock cash dividends paid | -68,000,000 | -68,000,000 | |
Common stock cash dividends paid | -251,000,000 | -235,000,000 | |
Net cash provided (used) by financing activities | 3,435,000,000 | 1,745,000,000 | |
Net Increase (Decrease) In Cash And Due From Banks | -209,000,000 | 680,000,000 | |
Cash and due from banks at beginning of period | 4,360,000,000 | [1] | 4,043,000,000 |
Cash and due from banks at end of period | 4,151,000,000 | [1] | 4,723,000,000 |
Supplemental Disclosures | |||
Interest paid | 251,000,000 | 205,000,000 | |
Income taxes paid | 28,000,000 | 20,000,000 | |
Income taxes refunded | 1,000,000 | 1,000,000 | |
Non-cash Investing and Financing Items | |||
Transfer from (to) loans to (from) loans held for sale, net | -7,000,000 | ||
Transfer from (to) loans to (from) loans held for sale, net | 70,000,000 | ||
Transfer from loans to foreclosed assets | $103,000,000 | $161,000,000 | |
[1] | Amounts represent the assets or liabilities of consolidated variable interest entities (VIEs). |
Accounting_Policies
Accounting Policies | 3 Months Ended | |||
Mar. 31, 2015 | ||||
Accounting Policies [Abstract] | ||||
Accounting Policies | Business | |||
PNC is one of the largest diversified financial services companies in the United States and is headquartered in Pittsburgh, Pennsylvania. | ||||
PNC has businesses engaged in retail banking, corporate and institutional banking, asset management, and residential mortgage banking, providing many of its products and services nationally, as well as other products and services in PNC’s primary geographic markets located in Pennsylvania, Ohio, New Jersey, Michigan, Illinois, Maryland, Indiana, North Carolina, Florida, Kentucky, Washington, D.C., Delaware, Virginia, Alabama, Missouri, Georgia, Wisconsin and South Carolina. PNC also provides certain products and services internationally. | ||||
Note 1 Accounting Policies | ||||
Basis Of Financial Statement Presentation | ||||
Our consolidated financial statements include the accounts of the parent company and its subsidiaries, most of which are wholly-owned, and certain partnership interests and variable interest entities. | ||||
We prepared these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (GAAP). We have eliminated intercompany accounts and transactions. We have also reclassified certain prior year amounts to conform to the 2015 presentation, which did not have a material impact on our consolidated financial condition or results of operations. Additionally, we evaluate the materiality of identified errors in the financial statements using both an income statement and a balance sheet approach, based on relevant quantitative and qualitative factors. The consolidated financial statements include certain adjustments to correct immaterial errors related to previously reported periods. In addition, as disclosed in certain Notes to the Consolidated Financial Statements, we made adjustments to previously reported periods for immaterial errors | ||||
In our opinion, the unaudited interim consolidated financial statements reflect all normal, recurring adjustments needed to present fairly our results for the interim periods. The results of operations for interim periods are not necessarily indicative of the results that may be expected for the full year or any other interim period. | ||||
When preparing these unaudited interim consolidated financial statements, we have assumed that you have read the audited consolidated financial statements included in our 2014 Annual Report on Form 10-K. Reference is made to Note 1 Accounting Policies in the 2014 Form 10-K for a detailed description of significant accounting policies. Included herein are policies that are required to be disclosed on an interim basis as well as policies where there has been a significant change within the first three months of 2015. These interim consolidated financial statements serve to update the 2014 Form 10-K and may not include all information and notes necessary to constitute a complete set of financial statements. | ||||
We have also considered the impact of subsequent events on these consolidated financial statements. | ||||
Use Of Estimates | ||||
We prepared these consolidated financial statements using financial information available at the time of preparation, which requires us to make estimates and assumptions that affect the amounts reported. Our most significant estimates pertain to our fair value measurements, allowances for loan and lease losses and unfunded loan commitments and letters of credit, and accretion on purchased impaired loans. Actual results may differ from the estimates and the differences may be material to the consolidated financial statements. | ||||
Nonperforming Loans and Leases | ||||
The matrix below summarizes PNC's policies for classifying certain loans as nonperforming loans and/or discontinuing the accrual of loan interest income. | ||||
Commercial loans | ||||
Loans Classified as Nonperforming and Accounted for as Nonaccrual | ● | Loans that are 90 days or more past due. | ||
● | Loans rated substandard or worse due to the determination that full collection of principal and interest is not probable as demonstrated by the following conditions: | |||
– | The collection of principal or interest is 90 days or more past due unless the asset is well-secured and/or in the process of collection; | |||
– | Reasonable doubt exists as to the certainty of the borrower's future debt service ability, according to the terms of the credit arrangement, regardless of whether 90 days have passed or not; | |||
– | The borrower has filed or will likely file for bankruptcy; | |||
– | The bank advances additional funds to cover principal or interest; | |||
– | We are in the process of liquidating a commercial borrower; or | |||
– | We are pursuing remedies under a guarantee. | |||
Loans Excluded from Nonperforming Classification but Accounted for as Nonaccrual | ● | Loans accounted for under the fair value option when we determine that full collection of principal and interest is not probable. | ||
● | Loans accounted for at the lower of cost or market less costs to sell (Held for Sale) when we determine that full collection of principal and interest is not probable. | |||
Loans Excluded from Nonperforming Classification and Nonaccrual Accounting | ● | Purchased impaired loans because interest income is accreted through the accounting model. | ||
● | Loans that are well secured and in the process of collection. | |||
Consumer loans | ||||
Loans Classified as Nonperforming and Accounted for as Nonaccrual | ● | Loans accounted for at amortized cost where full collection of contractual principal and interest is not deemed probable as demonstrated in the policies below: | ||
– | The loan is 90 days past due for home equity and installment loans, and 180 days past due for well secured residential real estate loans; | |||
– | The loan has been modified and classified as a troubled debt restructuring (TDR); | |||
– | Notification of bankruptcy has been received and the loan is 30 days or more past due; | |||
– | The bank holds a subordinate lien position in the loan and the first lien loan is seriously stressed (i.e., 90 days or more past due); | |||
– | Other loans within the same borrower relationship have been placed on nonaccrual or charge-offs have been taken on them; | |||
– | The bank has repossessed non-real estate collateral securing the loan; or | |||
– | The bank has charged-off the loan to the value of the collateral. | |||
Loans Excluded from Nonperforming Classification but Accounted for as Nonaccrual | ● | Loans accounted for under the fair value option when we determine that full collection of principal and interest is not probable. | ||
● | Loans accounted for at the lower of cost or market less costs to sell (Held for Sale) when we determine that full collection of principal and interest is not probable. | |||
Loans Excluded from Nonperforming Classification and Nonaccrual Accounting | ● | Purchased impaired loans because interest income is accreted through the accounting model. | ||
● | Certain government insured loans where substantially all principal and interest is insured. | |||
● | Residential real estate loans that are well secured and in the process of collection. | |||
● | Unsecured consumer loans and lines of credit as permitted by regulatory guidance. | |||
See Note 3 Asset Quality in this Report for additional detail on nonperforming assets and asset quality indicators for commercial and consumer loans. | ||||
Commercial Loans | ||||
We generally charge off Commercial Lending (Commercial, Commercial Real Estate, and Equipment Lease Financing) nonperforming loans when we determine that a specific loan, or portion thereof, is uncollectible. This determination is based on the specific facts and circumstances of the individual loans. In making this determination, we consider the viability of the business or project as a going concern, the past due status when the asset is not well-secured, the expected cash flows to repay the loan, the value of the collateral, and the ability and willingness of any guarantors to perform. | ||||
Additionally, in general, for smaller dollar commercial loans of $1 million or less, a partial or full charge-off occurs at 120 days past due for term loans and 180 days past due for revolvers. Certain small business credit card balances that are placed on nonaccrual status when they become 90 days or more past due are charged-off at 180 days past due. | ||||
Consumer Loans | ||||
Home equity installment loans, home equity lines of credit, and residential real estate loans that are not well-secured and in the process of collection are charged-off at no later than 180 days past due. At that time, the basis in the loan is reduced to the fair value of the collateral less costs to sell. In addition to this policy, the bank recognizes a charge-off on a secured consumer loan when: | ||||
The bank holds a subordinate lien position in the loan and a foreclosure notice has been received on the first lien loan; | ||||
The bank holds a subordinate lien position in the loan which is 30 days or more past due with a combined loan to value ratio of greater than or equal to 110% and the first lien loan is seriously stressed (i.e., 90 days or more past due); | ||||
The loan is modified or otherwise restructured in a manner that results in the loan becoming collateral dependent; | ||||
Notification of bankruptcy has been received within the last 60 days and the loan is 60 days or more past due; | ||||
The borrower has been discharged from personal liability through Chapter 7 bankruptcy and has not formally reaffirmed his or her loan obligation to PNC; or | ||||
The collateral securing the loan has been repossessed and the value of the collateral is less than the recorded investment of the loan outstanding. | ||||
For loans that continue to meet any of the above policies, collateral values are updated annually and subsequent declines in collateral values are charged-off resulting in incremental provision for credit loss. | ||||
Accounting for Nonperforming Loans and Leases and Other Nonaccrual Loans | ||||
For accrual loans, interest income is accrued on a monthly basis and certain fees and costs are deferred upon origination and recognized in income over the term of the loan utilizing an effective yield method. For nonaccrual loans, interest income accrual and deferred fee/cost amortization is discontinued. Additionally, the current year accrued and uncollected interest is reversed through Net interest income and prior year accrued and uncollected interest is charged-off. Nonaccrual loans may also be charged-off to reduce the basis to the fair value of collateral less costs to sell. | ||||
If payment is received on a nonaccrual loan, generally the payment is first applied to the recorded investment; payments are then applied to recover any charged-off amounts related to the loan. Finally, if both recorded investment and any charge-offs have been recovered, then the payment will be recorded as fee and interest income. | ||||
For TDRs, payments are applied based upon their contractual terms unless the related loan is deemed non-performing. TDRs are generally included in nonperforming and nonaccrual loans until returned to performing/accruing status through performance under restructured terms and other performance indicators for a reasonable period of time demonstrating that the bank expects to collect all of the loan’s remaining contractual principal and interest. TDRs resulting from 1) borrowers that have been discharged from personal liability through Chapter 7 bankruptcy and have not formally reaffirmed their loan obligations to PNC and 2) borrowers that are not currently obligated to make both principal and interest payments under the restructured terms are not returned to accrual status. | ||||
Other nonaccrual loans are generally not returned to accrual status until the borrower has performed in accordance with the contractual terms and other performance indicators for at least six months, the period of time which was determined to demonstrate the expected collection of the loan’s remaining contractual principal and interest. When a nonperforming loan is returned to accrual status, it is then considered a performing loan. | ||||
See Note 3 Asset Quality and Note 5 Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters of Credit in this Report and in our 2014 Form 10-K for additional TDR information. | ||||
Allowance for Loan and Lease Losses | ||||
We maintain the ALLL at a level that we believe to be appropriate to absorb estimated probable credit losses incurred in the loan and lease portfolios as of the balance sheet date. Our determination of the allowance is based on periodic evaluations of these loan and lease portfolios and other relevant factors. This critical estimate includes significant use of PNC’s own historical data and complex methods to interpret this data. These evaluations are inherently subjective, as they require material estimates and may be susceptible to significant change, and include, among others: | ||||
Probability of default (PD), | ||||
Loss given default (LGD), | ||||
Outstanding balance of the loan, | ||||
Movement through delinquency stages, | ||||
Amounts and timing of expected future cash flows, | ||||
Value of collateral, which may be obtained from third parties, and | ||||
Qualitative factors, such as changes in current economic conditions, that may not be reflected in modeled results. | ||||
For all loans, except purchased impaired loans, the ALLL is the sum of three components: (i) asset specific/individual impaired reserves, (ii) quantitative (formulaic or pooled) reserves and (iii) qualitative (judgmental) reserves. | ||||
The reserve calculation and determination process is dependent on the use of key assumptions. Key reserve assumptions and estimation processes react to and are influenced by observed changes in loan portfolio performance experience, the financial strength of the borrower, and economic conditions. Key reserve assumptions are periodically updated. | ||||
Asset Specific/Individual Component | ||||
Nonperforming loans that are considered impaired under ASC 310 – Receivables, which include all commercial and consumer TDRs, are evaluated for a specific reserve. Specific reserve allocations are determined as follows: | ||||
For commercial nonperforming loans and commercial TDRs greater than or equal to a defined dollar threshold, specific reserves are based on an analysis of the present value of the loan’s expected future cash flows, the loan’s observable market price or the fair value of the collateral. | ||||
For commercial nonperforming loans and commercial TDRs below the defined dollar threshold, the individual loan’s loss given default (LGD) percentage is multiplied by the loan balance and the results are aggregated for purposes of measuring specific reserve impairment. | ||||
Consumer nonperforming loans are collectively reserved for unless classified as consumer TDRs. For consumer TDRs, specific reserves are determined through an analysis of the present value of the loan’s expected future cash flows, except for those instances where loans have been deemed collateral dependent, including loans where borrowers have been discharged from personal liability through Chapter 7 bankruptcy and have not formally reaffirmed their loan obligations to PNC. Once that determination has been made, those TDRs are charged down to the fair value of the collateral less costs to sell at each period end. | ||||
Commercial Lending Quantitative Component | ||||
The estimates of the quantitative component of ALLL for incurred losses within the commercial lending portfolio segment are determined through statistical loss modeling utilizing PD, LGD and outstanding balance of the loan. Based upon loan risk ratings, we assign PDs and LGDs. Each of these statistical parameters is determined based on internal historical data and market data. PD is influenced by such factors as liquidity, industry, obligor financial structure, access to capital and cash flow. LGD is influenced by collateral type, original and/or updated loan-to-value ratio (LTV), facility structure and other factors. | ||||
Consumer Lending Quantitative Component | ||||
Quantitative estimates within the consumer lending portfolio segment are calculated primarily using a roll-rate model based on statistical relationships, calculated from historical data that estimate the movement of loan outstandings through the various stages of delinquency and ultimately charge-off over our loss emergence period. | ||||
Qualitative Component | ||||
While our reserve methodologies strive to reflect all relevant risk factors, there continues to be uncertainty associated with, but not limited to, potential imprecision in the estimation process due to the inherent time lag of obtaining information and normal variations between estimates and actual outcomes. We provide additional reserves that are designed to provide coverage for losses attributable to such risks. The ALLL also includes factors that may not be directly measured in the determination of specific or pooled reserves. Such qualitative factors may include: | ||||
Industry concentrations and conditions, | ||||
Recent credit quality trends, | ||||
Recent loss experience in particular portfolios, | ||||
Recent macro-economic factors, | ||||
Model imprecision, | ||||
Changes in lending policies and procedures, | ||||
Timing of available information, including the performance of first lien positions, and | ||||
Limitations of available historical data. | ||||
Allowance for Purchased Non-Impaired Loans | ||||
ALLL for purchased non-impaired loans is determined based upon a comparison between the methodologies described above and the remaining acquisition date fair value discount that has yet to be accreted into interest income. After making the comparison, an ALLL is recorded for the amount greater than the discount, or no ALLL is recorded if the discount is greater. | ||||
Allowance for Purchased Impaired Loans | ||||
ALLL for purchased impaired loans is determined in accordance with ASC 310-30 by comparing the net present value of the cash flows expected to be collected to the recorded investment for a given loan (or pool of loans). In cases where the net present value of expected cash flows is lower than the recorded investment, ALLL is established. Cash flows expected to be collected represent management’s best estimate of the cash flows expected over the life of a loan (or pool of loans). For large balance commercial loans, cash flows are separately estimated at the loan level. For smaller balance pooled loans, pool cash flows are estimated using cash flow models. Pools were defined at acquisition based on the risk characteristics of the loan. Our cash flow models use loan data including, but not limited to, contractual loan balance, delinquency status of the loan, updated borrower FICO credit scores, geographic information, historical loss experience, and updated LTVs, as well as best estimates for changes in unemployment rates, home prices and other economic factors, to determine estimated cash flows. | ||||
See Note 4 Purchased Loans and Note 5 Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters of Credit for additional loan data and application of the policies disclosed herein. | ||||
Our credit risk management policies, procedures and practices are designed to promote sound lending standards and prudent credit risk management. We have policies, procedures and practices that address financial statement requirements, collateral review and appraisal requirements, advance rates based upon collateral types, appropriate levels of exposure, cross-border risk, lending to specialized industries or borrower type, guarantor requirements, and regulatory compliance. | ||||
Allowance for Unfunded Loan Commitments and Letters of Credit | ||||
We maintain the allowance for unfunded loan commitments and letters of credit at a level we believe is appropriate to absorb estimated probable credit losses on these unfunded credit facilities as of the balance sheet date. We determine the allowance based on periodic evaluations of the unfunded credit facilities, including an assessment of the probability of commitment usage, credit risk factors, and, solely for commercial lending, the terms and expiration dates of the unfunded credit facilities. Other than the estimation of the probability of funding, the reserve for unfunded loan commitments is estimated in a manner similar to the methodology used for determining reserves for funded exposures. The allowance for unfunded loan commitments and letters of credit is recorded as a liability on the Consolidated Balance Sheet. Net adjustments to the allowance for unfunded loan commitments and letters of credit are included in the provision for credit losses. | ||||
See Note 5 Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters of Credit for additional loan data and application of the policies disclosed herein. | ||||
Earnings Per Common Share | ||||
Basic earnings per common share is calculated using the two-class method to determine income attributable to common shareholders. Unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents are considered participating securities under the two-class method. Income attributable to common shareholders is then divided by the weighted-average common shares outstanding for the period. | ||||
Diluted earnings per common share is calculated under the more dilutive of either the treasury method or the two-class method. For the diluted calculation, we increase the weighted-average number of shares of common stock outstanding by the assumed conversion of outstanding convertible preferred stock from the beginning of the year or date of issuance, if later, and the number of shares of common stock that would be issued assuming the exercise of stock options and warrants and the issuance of incentive shares using the treasury stock method. These adjustments to the weighted-average number of shares of common stock outstanding are made only when such adjustments will dilute earnings per common share. See Note 13 Earnings Per Share for additional information. | ||||
Recently Adopted Accounting Standards | ||||
In August 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-14, Receivables—Troubled Debt Restructurings by Creditors (Subtopic 310-40): Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure (a consensus of the FASB Emerging Issues Task Force). This ASU requires that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure when a) the loan has a government guarantee that is not separable from the loan before foreclosure; b) the creditor has the intent to convey the real estate to the guarantor and make a claim on the guarantee and the creditor has the ability to recover under that claim at the time of foreclosure; and c) any amount of the claim that is determined upon the basis of the real estate is fixed at the time of foreclosure. The receivable should be measured based on the loan balance (inclusive of principal and interest) that is expected to be recovered from the guarantor. This ASU is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. The ASU may be adopted using either a prospective or modified retrospective transition method consistent with the method elected to adopt ASU 2014-04, Receivables—Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. We adopted this guidance as of January 1, 2015. Adoption of this ASU did not have a material effect on our results of operations or financial position. | ||||
In June 2014, the FASB issued ASU 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. This ASU impacts the accounting for repurchase-to-maturity transactions and transfers executed contemporaneously with a repurchase agreement with the same counterparty (i.e., a repurchase financing) by requiring secured borrowing accounting. We adopted this accounting as of January 1, 2015 and will adopt the disclosure requirements in the second quarter of 2015. Adoption of this ASU did not have a material effect on our results of operations or financial position. | ||||
In January 2014, the FASB issued ASU 2014-04, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. This ASU clarifies that an in substance repossession or foreclosure is considered to have occurred, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon a) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or b) the borrower conveying all interest in the residential real estate property to the creditor to satisfy the loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. We adopted this guidance as of January 1, 2015. Adoption of this ASU did not have a material effect on our results of operations or financial position. |
Loan_Sale_and_Servicing_Activi
Loan Sale and Servicing Activities and Variable Interest Entities | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Loan Sale and Servicing Activities and Variable Interest Entities [Abstract] | |||||||||||||||||||||
Loan Sale and Servicing Activities and Variable Interest Entities | Note 2 Loan Sale and Servicing Activities and Variable Interest Entities | ||||||||||||||||||||
Loan Sale and Servicing Activities | |||||||||||||||||||||
As more fully described in Note 2 Loan Sale and Servicing Activities and Variable Interest Entities in our 2014 Form 10-K, we have transferred residential and commercial mortgage loans in securitization or sales transactions in which we have continuing involvement. Our continuing involvement generally consists of servicing, repurchasing previously transferred loans under certain conditions and loss share arrangements, and, in limited circumstances, holding of mortgage-backed securities issued by the securitization SPEs. | |||||||||||||||||||||
The following table provides certain financial information and cash flows associated with PNC's loan sale and servicing activities: | |||||||||||||||||||||
Table 50: Certain Financial Information and Cash Flows Associated with Loan Sale and Servicing Activities | |||||||||||||||||||||
Residential | Commercial | Home Equity | |||||||||||||||||||
In millions | Mortgages | Mortgages (a) | Loans/Lines (b) | ||||||||||||||||||
FINANCIAL INFORMATION - March 31, 2015 | |||||||||||||||||||||
Servicing portfolio (c) | $ | 112,932 | $ | 190,394 | $ | 3,686 | |||||||||||||||
Carrying value of servicing assets (d) | 839 | 494 | |||||||||||||||||||
Servicing advances (e) | 510 | 292 | 7 | ||||||||||||||||||
Repurchase and recourse obligations (f) | 106 | 38 | 28 | ||||||||||||||||||
Carrying value of mortgage-backed securities held (g) | 5,188 | 1,134 | |||||||||||||||||||
FINANCIAL INFORMATION - December 31, 2014 | |||||||||||||||||||||
Servicing portfolio (c) | $ | 108,010 | $ | 186,032 | $ | 3,833 | |||||||||||||||
Carrying value of servicing assets (d) | 845 | 506 | |||||||||||||||||||
Servicing advances (e) | 501 | 299 | 31 | ||||||||||||||||||
Repurchase and recourse obligations (f) | 107 | 35 | 29 | ||||||||||||||||||
Carrying value of mortgage-backed securities held (g) | 3,365 | 1,269 | |||||||||||||||||||
Residential | Commercial | Home Equity | |||||||||||||||||||
In millions | Mortgages | Mortgages (a) | Loans/Lines (b) | ||||||||||||||||||
CASH FLOWS - Three months ended March 31, 2015 | |||||||||||||||||||||
Sales of loans (h) | $ | 1,940 | $ | 1,020 | |||||||||||||||||
Repurchases of previously transferred loans (i) | 169 | $ | 2 | ||||||||||||||||||
Servicing fees (j) | 83 | 32 | 4 | ||||||||||||||||||
Servicing advances recovered/(funded), net | -9 | 7 | 24 | ||||||||||||||||||
Cash flows on mortgage-backed securities held (g) | 240 | 60 | |||||||||||||||||||
CASH FLOWS - Three months ended March 31, 2014 | |||||||||||||||||||||
Sales of loans (h) | $ | 2,095 | $ | 439 | |||||||||||||||||
Repurchases of previously transferred loans (i) | 209 | $ | 6 | ||||||||||||||||||
Servicing fees (j) | 87 | 41 | 5 | ||||||||||||||||||
Servicing advances recovered/(funded), net | 30 | 32 | 3 | ||||||||||||||||||
Cash flows on mortgage-backed securities held (g) | 232 | 144 | |||||||||||||||||||
(a) | Represents financial information and cash flows associated with both commercial mortgage loan transfer and servicing activities. | ||||||||||||||||||||
(b) | These activities were part of an acquired brokered home equity lending business in which PNC is no longer engaged. | ||||||||||||||||||||
(c) | For our continuing involvement with residential mortgages, this amount represents the outstanding balance of loans we service, including loans transferred by us and loans originated by others where we have purchased the associated servicing rights. For home equity loan/line of credit transfers, this amount represents the outstanding balance of loans transferred and serviced. For commercial mortgages, this amount represents our overall servicing portfolio in which loans have been transferred by us or third parties to VIEs. | ||||||||||||||||||||
(d) | See Note 7 Fair Value and Note 8 Goodwill and Intangible Assets for further information. | ||||||||||||||||||||
(e) | Pursuant to certain contractual servicing agreements, represents outstanding balance of funds advanced (i) to investors for monthly collections of borrower principal and interest, (ii) for borrower draws on unused home equity lines of credit, and (iii) for collateral protection associated with the underlying mortgage collateral. | ||||||||||||||||||||
(f) | Represents liability for our loss exposure associated with loan repurchases for breaches of representations and warranties for our Residential Mortgage Banking and Non-Strategic Assets Portfolio segments, and our commercial mortgage loss share arrangements for our Corporate & Institutional Banking segment. See Note 16 Commitments and Guarantees for further information. | ||||||||||||||||||||
(g) | Represents securities held where PNC transferred to and/or services loans for a securitization SPE and we hold securities issued by that SPE. | ||||||||||||||||||||
(h) | Gains/losses recognized on sales of loans were insignificant for the periods presented. | ||||||||||||||||||||
(i) | Includes government insured or guaranteed loans eligible for repurchase through the exercise of our ROAP option and loans repurchased due to breaches of origination covenants or representations and warranties made to purchasers. | ||||||||||||||||||||
(j) | Includes contractually specified servicing fees, late charges and ancillary fees. | ||||||||||||||||||||
The table below presents information about the principal balances of transferred loans that we service and are not recorded on our balance sheet. | |||||||||||||||||||||
Table 51: Principal Balance, Delinquent Loans, and Net Charge-offs Related to Serviced Loans | |||||||||||||||||||||
Residential | Commercial | Home Equity | |||||||||||||||||||
In millions | Mortgages | Mortgages (a) | Loans/Lines (b) | ||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||
Total principal balance | $ | 77,476 | $ | 59,289 | $ | 3,686 | |||||||||||||||
Delinquent loans (c) | 2,435 | 747 | 1,249 | ||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||
Total principal balance | $ | 79,108 | $ | 60,873 | $ | 3,833 | |||||||||||||||
Delinquent loans (c) | 2,657 | 707 | 1,303 | ||||||||||||||||||
Residential | Commercial | Home Equity | |||||||||||||||||||
In millions | Mortgages | Mortgages (a) | Loans/Lines (b) | ||||||||||||||||||
Three months ended March 31, 2015 | |||||||||||||||||||||
Net charge-offs (d) | $ | 32 | $ | 107 | $ | 7 | |||||||||||||||
Three months ended March 31, 2014 | |||||||||||||||||||||
Net charge-offs (d) | $ | 41 | $ | 355 | $ | 17 | |||||||||||||||
(a) Represents information at the securitization level in which PNC has sold loans and is the servicer for the securitization. | |||||||||||||||||||||
(b) These activities were part of an acquired brokered home equity lending business in which PNC is no longer engaged. | |||||||||||||||||||||
(c) Serviced delinquent loans are 90 days or more past due or are in process of foreclosure. | |||||||||||||||||||||
(d) Net charge-offs for Residential mortgages and Home equity loans/lines represent credit losses less recoveries distributed and as reported to investors during the period. Net charge-offs for Commercial mortgages represent credit losses less recoveries distributed and as reported by the trustee for CMBS securitizations. Realized losses for Agency securitizations are not reflected as we do not manage the underlying real estate upon foreclosure and, as such, do not have access to loss information. | |||||||||||||||||||||
Variable Interest Entities (VIEs) | |||||||||||||||||||||
As discussed in Note 2 Loan Sale and Servicing Activities and Variable Interest Entities in our 2014 Form 10-K, we are involved with various entities in the normal course of business that are deemed to be VIEs. The following provides a summary of VIEs, including those that we have consolidated and those in which we hold variable interests but have not consolidated into our financial statements as of March 31, 2015 and December 31, 2014, respectively. We have not provided additional financial support to these entities which we are not contractually required to provide. | |||||||||||||||||||||
Table 52: Consolidated VIEs – Carrying Value (a) (b) | |||||||||||||||||||||
31-Mar-15 | Credit Card and Other | Tax Credit | |||||||||||||||||||
In millions | Securitization Trusts | Investments | Total | ||||||||||||||||||
Assets | |||||||||||||||||||||
Cash and due from banks | $ | 6 | $ | 6 | |||||||||||||||||
Interest-earning deposits with banks | 6 | 6 | |||||||||||||||||||
Investment securities | |||||||||||||||||||||
Loans | $ | 1,486 | 1,486 | ||||||||||||||||||
Allowance for loan and lease losses | -46 | -46 | |||||||||||||||||||
Equity investments | 334 | 334 | |||||||||||||||||||
Other assets | 6 | 428 | 434 | ||||||||||||||||||
Total assets | $ | 1,446 | $ | 774 | $ | 2,220 | |||||||||||||||
Liabilities | |||||||||||||||||||||
Other borrowed funds | $ | 160 | $ | 181 | $ | 341 | |||||||||||||||
Accrued expenses | 69 | 69 | |||||||||||||||||||
Other liabilities | 142 | 142 | |||||||||||||||||||
Total liabilities | $ | 160 | $ | 392 | $ | 552 | |||||||||||||||
31-Dec-14 | Credit Card and Other | Tax Credit | |||||||||||||||||||
In millions | Securitization Trusts | Investments | Total | ||||||||||||||||||
Assets | |||||||||||||||||||||
Cash and due from banks | $ | 6 | $ | 6 | |||||||||||||||||
Interest-earning deposits with banks | 6 | 6 | |||||||||||||||||||
Investment securities | |||||||||||||||||||||
Loans | $ | 1,606 | 1,606 | ||||||||||||||||||
Allowance for loan and lease losses | -50 | -50 | |||||||||||||||||||
Equity investments | 492 | 492 | |||||||||||||||||||
Other assets | 31 | 452 | 483 | ||||||||||||||||||
Total assets | $ | 1,587 | $ | 956 | $ | 2,543 | |||||||||||||||
Liabilities | |||||||||||||||||||||
Commercial paper | |||||||||||||||||||||
Other borrowed funds | $ | 166 | $ | 181 | $ | 347 | |||||||||||||||
Accrued expenses | 70 | 70 | |||||||||||||||||||
Other liabilities | 206 | 206 | |||||||||||||||||||
Total liabilities | $ | 166 | $ | 457 | $ | 623 | |||||||||||||||
(a) | Amounts represent carrying value on PNC’s Consolidated Balance Sheet. | ||||||||||||||||||||
(b) | Difference between total assets and total liabilities represents the equity portion of the VIE or intercompany assets and liabilities which are eliminated in consolidation. | ||||||||||||||||||||
Table 53: Non-Consolidated VIEs | |||||||||||||||||||||
Carrying Value of Assets Owned by PNC | Carrying Value of Liabilities Owned by PNC | ||||||||||||||||||||
Aggregate | Aggregate | PNC Risk | |||||||||||||||||||
In millions | Assets | Liabilities | of Loss (a) | ||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||
Commercial Mortgage-Backed Securitizations (b) | $ | 50,756 | $ | 50,756 | $ | 1,390 | $ | 1,390 | (d) | $ | 1 | (f) | |||||||||
Residential Mortgage-Backed Securitizations (b) | 225,877 | 225,877 | 5,217 | 5,217 | (d) | 1 | (f) | ||||||||||||||
Tax Credit Investments and Other (c) | 7,631 | 2,982 | 2,275 | 2,315 | (e) | 792 | (g) | ||||||||||||||
Total | $ | 284,264 | $ | 279,615 | $ | 8,882 | $ | 8,922 | $ | 794 | |||||||||||
Carrying Value of Assets Owned by PNC | Carrying Value of Liabilities Owned by PNC | ||||||||||||||||||||
Aggregate | Aggregate | PNC Risk | |||||||||||||||||||
In millions | Assets | Liabilities | of Loss (a) | ||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||
Commercial Mortgage-Backed Securitizations (b) | $ | 53,436 | $ | 53,436 | $ | 1,550 | $ | 1,550 | (d) | $ | 1 | (f) | |||||||||
Residential Mortgage-Backed Securitizations (b) | 62,236 | 62,236 | 3,385 | 3,385 | (d) | 4 | (f) | ||||||||||||||
Tax Credit Investments and Other (c) | 7,493 | 2,933 | 2,270 | 2,304 | (e) | 777 | (g) | ||||||||||||||
Total | $ | 123,165 | $ | 118,605 | $ | 7,205 | $ | 7,239 | $ | 782 | |||||||||||
(a) | This represents loans, investments and other assets related to non-consolidated VIEs, net of collateral (if applicable). Our total exposure related to our involvement in loan sale and servicing activities is disclosed in Table 50. Additionally, we also invest in other mortgage and asset-backed securities issued by third-party VIEs with which we have no continuing involvement. Further information on these securities is included in Note 6 Investment Securities and values disclosed represent our maximum exposure to loss for those securities’ holdings. | ||||||||||||||||||||
(b) | Amounts reflect involvement with securitization SPEs where PNC transferred to and/or services loans for an SPE and we hold securities issued by that SPE. Asset amounts equal outstanding liability amounts of the SPEs due to limited availability of SPE financial information. | ||||||||||||||||||||
(c) | Aggregate assets and aggregate liabilities are based on limited availability of financial information associated with certain acquired partnerships and certain LLCs engaged in solar power generation to which PNC provides lease financing. The aggregate assets and aggregate liabilities of LLCs engaged in solar power generation may not be reflective of the size of these VIEs due to differences in classification of leases by these entities. | ||||||||||||||||||||
(d) | Included in Trading securities, Investment securities, Other intangible assets and Other assets on our Consolidated Balance Sheet. | ||||||||||||||||||||
(e) | Included in Loans, Equity investments and Other assets on our Consolidated Balance Sheet. | ||||||||||||||||||||
(f) | Included in Other liabilities on our Consolidated Balance Sheet. | ||||||||||||||||||||
(g) | Included in Deposits and Other liabilities on our Consolidated Balance Sheet. | ||||||||||||||||||||
Our involvement with VIEs is discussed in further detail in Note 2 Loan Sale and Servicing Activities and Variable Interest Entities in our 2014 Form 10-K. |
Asset_Quality
Asset Quality | 3 Months Ended | ||||||||||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||||||||||
Asset Quality [Abstract] | |||||||||||||||||||||||||||||||||||||
Asset Quality | Note 3 Asset Quality | ||||||||||||||||||||||||||||||||||||
Asset Quality | |||||||||||||||||||||||||||||||||||||
We closely monitor economic conditions and loan performance trends to manage and evaluate our exposure to credit risk. Trends in delinquency rates may be a key indicator, among other considerations, of credit risk within the loan portfolios. The measurement of delinquency status is based on the contractual terms of each loan. Loans that are 30 days or more past due in terms of payment are considered delinquent. Loan delinquencies exclude loans held for sale, purchased impaired loans, nonperforming loans and loans accounted for under the fair value option which are on nonaccrual status, but include government insured or guaranteed loans and accruing loans accounted for under the fair value option. | |||||||||||||||||||||||||||||||||||||
Nonperforming assets include nonperforming loans and leases, OREO and foreclosed assets, and nonperforming TDRs. Nonperforming loans are those loans accounted for at amortized cost whose credit quality has deteriorated to the extent that full collection of contractual principal and interest is not probable. Interest income is not recognized on these loans. Loans accounted for under the fair value option are reported as performing loans as these loans are accounted for at fair value. Accordingly, when nonaccrual criteria is met, interest income is not recognized on these loans. Additionally, certain government insured or guaranteed loans for which we expect to collect substantially all principal and interest are not reported as nonperforming loans and continue to accrue interest. Purchased impaired loans are excluded from nonperforming loans as we are currently accreting interest income over the expected life of the loans. See Note 4 Purchased Loans for further information. | |||||||||||||||||||||||||||||||||||||
See Note 1 Accounting Policies for additional delinquency, nonperforming, and charge-off information. | |||||||||||||||||||||||||||||||||||||
The following tables display the delinquency status of our loans and our nonperforming assets at March 31, 2015 and December 31, 2014, respectively. | |||||||||||||||||||||||||||||||||||||
Table 54: Analysis of Loan Portfolio (a) | |||||||||||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||||||||||
Current or Less | 30-59 | 60-89 | 90 Days | Total | Fair Value Option | Purchased | Total | ||||||||||||||||||||||||||||||
Than 30 Days | Days | Days | Or More | Past | Nonperforming | Nonaccrual | Impaired | Loans | |||||||||||||||||||||||||||||
Dollars in millions | Past Due | Past Due | Past Due | Past Due | Due (b) | Loans | Loans (c) | Loans | (d) (e) | ||||||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||||||||||||||
Commercial Lending | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 97,182 | $ | 73 | $ | 20 | $ | 35 | $ | 128 | $ | 280 | $ | 60 | $ | 97,650 | |||||||||||||||||||||
Commercial real estate | 23,999 | 24 | 23 | 47 | 293 | 216 | 24,555 | ||||||||||||||||||||||||||||||
Equipment lease financing | 7,452 | 16 | 16 | 2 | 7,470 | ||||||||||||||||||||||||||||||||
Total commercial lending | 128,633 | 113 | 43 | 35 | 191 | 575 | 276 | 129,675 | |||||||||||||||||||||||||||||
Consumer Lending | |||||||||||||||||||||||||||||||||||||
Home equity | 30,955 | 61 | 30 | 91 | 1,101 | 1,918 | 34,065 | ||||||||||||||||||||||||||||||
Residential real estate (f) | 10,227 | 142 | 53 | 660 | 855 | 665 | $ | 261 | 2,481 | 14,489 | |||||||||||||||||||||||||||
Credit card | 4,357 | 25 | 17 | 32 | 74 | 3 | 4,434 | ||||||||||||||||||||||||||||||
Other consumer (g) | 21,459 | 178 | 100 | 261 | 539 | 61 | 22,059 | ||||||||||||||||||||||||||||||
Total consumer lending | 66,998 | 406 | 200 | 953 | 1,559 | 1,830 | 261 | 4,399 | 75,047 | ||||||||||||||||||||||||||||
Total | $ | 195,631 | $ | 519 | $ | 243 | $ | 988 | $ | 1,750 | $ | 2,405 | $ | 261 | $ | 4,675 | $ | 204,722 | |||||||||||||||||||
Percentage of total loans | 95.56 | % | 0.25 | % | 0.12 | % | 0.48 | % | 0.85 | % | 1.17 | % | 0.13 | % | 2.29 | % | 100 | % | |||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||||||||||
Commercial Lending | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 96,922 | $ | 73 | $ | 24 | $ | 37 | $ | 134 | $ | 290 | $ | 74 | $ | 97,420 | |||||||||||||||||||||
Commercial real estate | 22,667 | 23 | 2 | 25 | 334 | 236 | 23,262 | ||||||||||||||||||||||||||||||
Equipment lease financing | 7,672 | 11 | 1 | 12 | 2 | 7,686 | |||||||||||||||||||||||||||||||
Total commercial lending | 127,261 | 107 | 27 | 37 | 171 | 626 | 310 | 128,368 | |||||||||||||||||||||||||||||
Consumer Lending | |||||||||||||||||||||||||||||||||||||
Home equity | 31,474 | 70 | 32 | 102 | 1,112 | 1,989 | 34,677 | ||||||||||||||||||||||||||||||
Residential real estate (f) | 9,900 | 163 | 68 | 742 | 973 | 706 | $ | 269 | 2,559 | 14,407 | |||||||||||||||||||||||||||
Credit card | 4,528 | 28 | 20 | 33 | 81 | 3 | 4,612 | ||||||||||||||||||||||||||||||
Other consumer (g) | 22,071 | 214 | 112 | 293 | 619 | 63 | 22,753 | ||||||||||||||||||||||||||||||
Total consumer lending | 67,973 | 475 | 232 | 1,068 | 1,775 | 1,884 | 269 | 4,548 | 76,449 | ||||||||||||||||||||||||||||
Total | $ | 195,234 | $ | 582 | $ | 259 | $ | 1,105 | $ | 1,946 | $ | 2,510 | $ | 269 | $ | 4,858 | $ | 204,817 | |||||||||||||||||||
Percentage of total loans | 95.32 | % | 0.28 | % | 0.13 | % | 0.54 | % | 0.95 | % | 1.23 | % | 0.13 | % | 2.37 | % | 100 | % | |||||||||||||||||||
(a) | Amounts in table represent recorded investment and exclude loans held for sale. | ||||||||||||||||||||||||||||||||||||
(b) | Past due loan amounts exclude purchased impaired loans, even if contractually past due (or if we do not expect to receive payment in full based on the original contractual terms), as we are currently accreting interest income over the expected life of the loans. | ||||||||||||||||||||||||||||||||||||
(c) | Consumer loans accounted for under the fair value option for which we do not expect to collect substantially all principal and interest are subject to nonaccrual accounting and classification upon meeting any of our nonaccrual policies. Given that these loans are not accounted for at amortized cost, these loans have been excluded from the nonperforming loan population. | ||||||||||||||||||||||||||||||||||||
(d) | Net of unearned income, net deferred loan fees, unamortized discounts and premiums, and purchase discounts and premiums totaling $1.6 billion and $1.7 billion at | ||||||||||||||||||||||||||||||||||||
March 31, 2015 and December 31, 2014, respectively. | |||||||||||||||||||||||||||||||||||||
(e) | Future accretable yield related to purchased impaired loans is not included in the analysis of loan portfolio. | ||||||||||||||||||||||||||||||||||||
(f) | Past due loan amounts at March 31, 2015 include government insured or guaranteed Residential real estate mortgages totaling $70 million for 30 to 59 days past due, $35 million for 60 to 89 days past due and $634 million for 90 days or more past due. Past due loan amounts at December 31, 2014 include government insured or guaranteed Residential real estate mortgages totaling $68 million for 30 to 59 days past due, $43 million for 60 to 89 days past due and $719 million for 90 days or more past due. | ||||||||||||||||||||||||||||||||||||
(g) | Past due loan amounts at March 31, 2015 include government insured or guaranteed Other consumer loans totaling $126 million for 30 to 59 days past due, $82 million for 60 to 89 days past due and $244 million for 90 days or more past due. Past due loan amounts at December 31, 2014 include government insured or guaranteed Other consumer loans totaling $152 million for 30 to 59 days past due, $93 million for 60 to 89 days past due and $277 million for 90 days or more past due. | ||||||||||||||||||||||||||||||||||||
At March 31, 2015, we pledged $19.7 billion of commercial loans to the Federal Reserve Bank (FRB) and $54.0 billion of residential real estate and other loans to the Federal Home Loan Bank (FHLB) as collateral for the contingent ability to borrow, if necessary. The comparable amounts at December 31, 2014 were $19.2 billion and $52.8 billion, respectively. | |||||||||||||||||||||||||||||||||||||
In the normal course of business, we originate or purchase loan products with contractual characteristics that, when concentrated, may increase our exposure as a holder of those loan products. Possible product features that may create a concentration of credit risk would include a high original or updated LTV ratio, terms that may expose the borrower to future increases in repayments above increases in market interest rates, and interest-only loans, among others. | |||||||||||||||||||||||||||||||||||||
We originate interest-only loans to commercial borrowers. Such credit arrangements are usually designed to match borrower cash flow expectations (e.g., working capital lines, revolvers). These products are standard in the financial services industry and product features are considered during the underwriting process to mitigate the increased risk that the interest-only feature may result in borrowers not being able to make interest and principal payments when due. We do not believe that these product features create a concentration of credit risk. | |||||||||||||||||||||||||||||||||||||
Table 55: Nonperforming Assets | |||||||||||||||||||||||||||||||||||||
31-Mar | 31-Dec | ||||||||||||||||||||||||||||||||||||
Dollars in millions | 2015 | 2014 | |||||||||||||||||||||||||||||||||||
Nonperforming loans | |||||||||||||||||||||||||||||||||||||
Commercial lending | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 280 | $ | 290 | |||||||||||||||||||||||||||||||||
Commercial real estate | 293 | 334 | |||||||||||||||||||||||||||||||||||
Equipment lease financing | 2 | 2 | |||||||||||||||||||||||||||||||||||
Total commercial lending | 575 | 626 | |||||||||||||||||||||||||||||||||||
Consumer lending (a) | |||||||||||||||||||||||||||||||||||||
Home equity | 1,101 | 1,112 | |||||||||||||||||||||||||||||||||||
Residential real estate | 665 | 706 | |||||||||||||||||||||||||||||||||||
Credit card | 3 | 3 | |||||||||||||||||||||||||||||||||||
Other consumer | 61 | 63 | |||||||||||||||||||||||||||||||||||
Total consumer lending | 1,830 | 1,884 | |||||||||||||||||||||||||||||||||||
Total nonperforming loans (b) (c) | 2,405 | 2,510 | |||||||||||||||||||||||||||||||||||
OREO and foreclosed assets | |||||||||||||||||||||||||||||||||||||
Other real estate owned (OREO) | 331 | 351 | |||||||||||||||||||||||||||||||||||
Foreclosed and other assets | 18 | 19 | |||||||||||||||||||||||||||||||||||
Total OREO and foreclosed assets | 349 | 370 | |||||||||||||||||||||||||||||||||||
Total nonperforming assets | $ | 2,754 | $ | 2,880 | |||||||||||||||||||||||||||||||||
Nonperforming loans to total loans | 1.17 | % | 1.23 | % | |||||||||||||||||||||||||||||||||
Nonperforming assets to total loans, OREO and foreclosed assets | 1.34 | 1.4 | |||||||||||||||||||||||||||||||||||
Nonperforming assets to total assets | 0.78 | 0.83 | |||||||||||||||||||||||||||||||||||
(a) | Excludes most consumer loans and lines of credit, not secured by residential real estate, which are charged off after 120 to 180 days past due and are not placed on nonperforming status. | ||||||||||||||||||||||||||||||||||||
(b) | Nonperforming loans exclude certain government insured or guaranteed loans, loans held for sale, loans accounted for under the fair value option and purchased impaired loans. | ||||||||||||||||||||||||||||||||||||
(c) | The recorded investment of loans collateralized by residential real estate property that are in process of foreclosure was $.7 billion and $.8 billion at March 31, 2015 and December 31, 2014, respectively, both of which included $.5 billion of loans that are government insured/guaranteed. | ||||||||||||||||||||||||||||||||||||
Nonperforming loans also include certain loans whose terms have been restructured in a manner that grants a concession to a borrower experiencing financial difficulties. In accordance with applicable accounting guidance, these loans are considered TDRs. See Note 1 Accounting Policies and the TDR section of Note 3 in our 2014 Form 10-K for additional information. For the three months ended March 31, 2015, $232 million of Consumer loans held for sale, loans accounted for under the fair value option, pooled purchased impaired loans, as well as certain government insured or guaranteed loans which were evaluated for TDR consideration, are not classified as TDRs. The comparable amount for the three months ended March 31, 2014 was $302 million. | |||||||||||||||||||||||||||||||||||||
Total nonperforming loans in the nonperforming assets table above include TDRs of $1.3 billion at March 31, 2015 and $1.4 billion at December 31, 2014. TDRs that are performing, including all credit card TDR loans, totaled $1.2 billion at March 31, 2015 and December 31, 2014 and are excluded from nonperforming loans. These performing TDR loans, excluding credit cards which are not placed on nonaccrual status as permitted by regulatory guidance, have demonstrated a period of at least six months of consecutive performance under the restructured terms. Loans where borrowers have been discharged from personal liability through Chapter 7 bankruptcy and have not formally reaffirmed their loan obligations to PNC and loans to borrowers not currently obligated to make both principal and interest payments under the restructured terms are not returned to accrual status. | |||||||||||||||||||||||||||||||||||||
Additional Asset Quality Indicators | |||||||||||||||||||||||||||||||||||||
We have two overall portfolio segments – Commercial Lending and Consumer Lending. Each of these two segments is comprised of multiple loan classes. Classes are characterized by similarities in initial measurement, risk attributes and the manner in which we monitor and assess credit risk. The Commercial Lending segment is comprised of the commercial, commercial real estate, equipment lease financing, and commercial purchased impaired loan classes. The Consumer Lending segment is comprised of the home equity, residential real estate, credit card, other consumer, and consumer purchased impaired loan classes. | |||||||||||||||||||||||||||||||||||||
Commercial Lending Asset Classes | |||||||||||||||||||||||||||||||||||||
Commercial Loan Class | |||||||||||||||||||||||||||||||||||||
For commercial loans, we monitor the performance of the borrower in a disciplined and regular manner based upon the level of credit risk inherent in the loan. To evaluate the level of credit risk, we assign an internal risk rating reflecting the borrower’s PD and LGD. This two-dimensional credit risk rating methodology provides granularity in the risk monitoring process on an ongoing basis. These ratings are reviewed and updated on a risk-adjusted basis, generally at least once per year. Additionally, no less frequently than on an annual basis, we review PD rates related to each rating grade based upon internal historical data. These rates are updated as needed and augmented by market data as deemed necessary. For small balance homogenous pools of commercial loans, mortgages and leases, we apply statistical modeling to assist in determining the probability of default within these pools. Further, on a periodic basis, we update our LGD estimates associated with each rating grade based upon historical data. The combination of the PD and LGD ratings assigned to a commercial loan, capturing both the combination of expectations of default and loss severity in event of default, reflects the relative estimated likelihood of loss for that loan at the reporting date. In general, loans with better PD and LGD tend to have a lower likelihood of loss compared to loans with worse PD and LGD. The loss amount also considers exposure at date of default, which we also periodically update based upon historical data. | |||||||||||||||||||||||||||||||||||||
Based upon the amount of the lending arrangement and our risk rating assessment, we follow a formal schedule of written periodic review. Quarterly, we conduct formal reviews of a market's or business unit's entire loan portfolio, focusing on those loans which we perceive to be of higher risk, based upon PDs and LGDs, or loans for which credit quality is weakening. If circumstances warrant, it is our practice to review any customer obligation and its level of credit risk more frequently. We attempt to proactively manage our loans by using various procedures that are customized to the risk of a given loan, including ongoing outreach, contact, and assessment of obligor financial conditions, collateral inspection and appraisal. | |||||||||||||||||||||||||||||||||||||
Commercial Real Estate Loan Class | |||||||||||||||||||||||||||||||||||||
We manage credit risk associated with our commercial real estate projects and commercial mortgage activities similar to commercial loans by analyzing PD and LGD. Additionally, risks connected with commercial real estate projects and commercial mortgage activities tend to be correlated to the loan structure and collateral location, project progress and business environment. As a result, these attributes are also monitored and utilized in assessing credit risk. | |||||||||||||||||||||||||||||||||||||
As with the commercial class, a formal schedule of periodic review is also performed to assess market/geographic risk and business unit/industry risk. Often as a result of these overviews, more in-depth reviews and increased scrutiny are placed on areas of higher risk, including adverse changes in risk ratings, deteriorating operating trends, and/or areas that concern management. These reviews are designed to assess risk and take actions to mitigate our exposure to such risks. | |||||||||||||||||||||||||||||||||||||
Equipment Lease Financing Loan Class | |||||||||||||||||||||||||||||||||||||
We manage credit risk associated with our equipment lease financing loan class similar to commercial loans by analyzing PD and LGD. | |||||||||||||||||||||||||||||||||||||
Based upon the dollar amount of the lease and of the level of credit risk, we follow a formal schedule of periodic review. Generally, this occurs quarterly, although we have established practices to review such credit risk more frequently if circumstances warrant. Our review process entails analysis of the following factors: equipment value/residual value, exposure levels, jurisdiction risk, industry risk, guarantor requirements, and regulatory compliance. | |||||||||||||||||||||||||||||||||||||
Commercial Purchased Impaired Loan Class | |||||||||||||||||||||||||||||||||||||
Estimates of the expected cash flows primarily determine the valuation of commercial purchased impaired loans. Commercial cash flow estimates are influenced by a number of credit related items, which include but are not limited to: estimated collateral value, receipt of additional collateral, secondary trading prices, circumstances of possible and/or ongoing liquidation, capital availability, business operations and payment patterns. | |||||||||||||||||||||||||||||||||||||
We attempt to proactively manage these factors by using various procedures that are customized to the risk of a given loan. These procedures include a review by our Special Asset Committee (SAC), ongoing outreach, contact, and assessment of obligor financial conditions, collateral inspection and appraisal. | |||||||||||||||||||||||||||||||||||||
See Note 4 Purchased Loans for additional information. | |||||||||||||||||||||||||||||||||||||
Table 56: Commercial Lending Asset Quality Indicators (a)(b) | |||||||||||||||||||||||||||||||||||||
Criticized Commercial Loans | |||||||||||||||||||||||||||||||||||||
Pass | Special | Total | |||||||||||||||||||||||||||||||||||
In millions | Rated | Mention (c) | Substandard (d) | Doubtful (e) | Loans | ||||||||||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 92,972 | $ | 1,968 | $ | 2,601 | $ | 49 | $ | 97,590 | |||||||||||||||||||||||||||
Commercial real estate | 23,405 | 276 | 631 | 27 | 24,339 | ||||||||||||||||||||||||||||||||
Equipment lease financing | 7,321 | 59 | 88 | 2 | 7,470 | ||||||||||||||||||||||||||||||||
Purchased impaired loans | 5 | 244 | 27 | 276 | |||||||||||||||||||||||||||||||||
Total commercial lending | $ | 123,698 | $ | 2,308 | $ | 3,564 | $ | 105 | $ | 129,675 | |||||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 92,884 | $ | 1,984 | $ | 2,424 | $ | 55 | $ | 97,347 | |||||||||||||||||||||||||||
Commercial real estate | 22,066 | 285 | 639 | 35 | 23,025 | ||||||||||||||||||||||||||||||||
Equipment lease financing | 7,518 | 73 | 93 | 2 | 7,686 | ||||||||||||||||||||||||||||||||
Purchased impaired loans | 4 | 280 | 26 | 310 | |||||||||||||||||||||||||||||||||
Total commercial lending | $ | 122,468 | $ | 2,346 | $ | 3,436 | $ | 118 | $ | 128,368 | |||||||||||||||||||||||||||
(a) | Based upon PDs and LGDs. We apply a split rating classification to certain loans meeting threshold criteria. By assigning a split classification, a loan's exposure amount may be split into more than one classification category in the above table. | ||||||||||||||||||||||||||||||||||||
(b) | Loans are included above based on the Regulatory Classification definitions of "Pass", "Special Mention", "Substandard" and "Doubtful". | ||||||||||||||||||||||||||||||||||||
(c) | Special Mention rated loans have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration | ||||||||||||||||||||||||||||||||||||
of repayment prospects at some future date. These loans do not expose us to sufficient risk to warrant a more adverse classification at this time. | |||||||||||||||||||||||||||||||||||||
(d) | Substandard rated loans have a well-defined weakness or weaknesses that jeopardize the collection or liquidation of debt. They are characterized by the distinct possibility | ||||||||||||||||||||||||||||||||||||
that we will sustain some loss if the deficiencies are not corrected. | |||||||||||||||||||||||||||||||||||||
(e) | Doubtful rated loans possess all the inherent weaknesses of a Substandard loan with the additional characteristics that the weakness makes collection or liquidation in full | ||||||||||||||||||||||||||||||||||||
improbable due to existing facts, conditions, and values. | |||||||||||||||||||||||||||||||||||||
Consumer Lending Asset Classes | |||||||||||||||||||||||||||||||||||||
Home Equity and Residential Real Estate Loan Classes | |||||||||||||||||||||||||||||||||||||
We use several credit quality indicators, including delinquency information, nonperforming loan information, updated credit scores, originated and updated LTV ratios, and geography, to monitor and manage credit risk within the home equity and residential real estate loan classes. We evaluate mortgage loan performance by source originators and loan servicers. A summary of asset quality indicators follows: | |||||||||||||||||||||||||||||||||||||
Delinquency/Delinquency Rates: We monitor trending of delinquency/delinquency rates for home equity and residential real estate loans. See the Asset Quality section of this Note 3 for additional information. | |||||||||||||||||||||||||||||||||||||
Nonperforming Loans: We monitor trending of nonperforming loans for home equity and residential real estate loans. See the Asset Quality section of this Note 3 for additional information. | |||||||||||||||||||||||||||||||||||||
Credit Scores: We use a national third-party provider to update FICO credit scores for home equity loans and lines of credit and residential real estate loans at least quarterly. The updated scores are incorporated into a series of credit management reports, which are utilized to monitor the risk in the loan classes. | |||||||||||||||||||||||||||||||||||||
LTV (inclusive of combined loan-to-value (CLTV) for first and subordinate lien positions): At least annually, we update the property values of real estate collateral and calculate an updated LTV ratio. For open-end credit lines secured by real estate in regions experiencing significant declines in property values, more frequent valuations may occur. We examine LTV migration and stratify LTV into categories to monitor the risk in the loan classes. | |||||||||||||||||||||||||||||||||||||
Historically, we used, and we continue to use, a combination of original LTV and updated LTV for internal risk management and reporting purposes (e.g., line management, loss mitigation strategies). In addition to the fact that estimated property values by their nature are estimates, given certain data limitations it is important to note that updated LTVs may be based upon management’s assumptions (e.g., if an updated LTV is not provided by the third-party service provider, home price index (HPI) changes will be incorporated in arriving at management’s estimate of updated LTV). | |||||||||||||||||||||||||||||||||||||
Geography: Geographic concentrations are monitored to evaluate and manage exposures. Loan purchase programs are sensitive to, and focused within, certain regions to manage geographic exposures and associated risks. | |||||||||||||||||||||||||||||||||||||
A combination of updated FICO scores, originated and updated LTV ratios and geographic location assigned to home equity loans and lines of credit and residential real estate loans is used to monitor the risk in the loan classes. Loans with higher FICO scores and lower LTVs tend to have a lower level of risk. Conversely, loans with lower FICO scores, higher LTVs, and in certain geographic locations tend to have a higher level of risk. | |||||||||||||||||||||||||||||||||||||
Consumer Purchased Impaired Loan Class | |||||||||||||||||||||||||||||||||||||
Estimates of the expected cash flows primarily determine the valuation of consumer purchased impaired loans. Consumer cash flow estimates are influenced by a number of credit related items, which include, but are not limited to: estimated real estate values, payment patterns, updated FICO scores, the current economic environment, updated LTV ratios and the date of origination. These key factors are monitored to help ensure that concentrations of risk are managed and cash flows are maximized. | |||||||||||||||||||||||||||||||||||||
See Note 4 Purchased Loans for additional information. | |||||||||||||||||||||||||||||||||||||
Table 57: Home Equity and Residential Real Estate Balances | |||||||||||||||||||||||||||||||||||||
31-Mar | 31-Dec | ||||||||||||||||||||||||||||||||||||
In millions | 2015 | 2014 | |||||||||||||||||||||||||||||||||||
Home equity and residential real estate loans - excluding purchased impaired loans (a) | $ | 43,049 | $ | 43,348 | |||||||||||||||||||||||||||||||||
Home equity and residential real estate loans - purchased impaired loans (b) | 4,343 | 4,541 | |||||||||||||||||||||||||||||||||||
Government insured or guaranteed residential real estate mortgages (a) | 1,106 | 1,188 | |||||||||||||||||||||||||||||||||||
Difference between outstanding balance and recorded investment in purchased impaired loans (c) | 56 | 7 | |||||||||||||||||||||||||||||||||||
Total home equity and residential real estate loans (a) | $ | 48,554 | $ | 49,084 | |||||||||||||||||||||||||||||||||
(a) | Represents recorded investment. | ||||||||||||||||||||||||||||||||||||
(b) | Represents outstanding balance. | ||||||||||||||||||||||||||||||||||||
(c) | Outstanding balance represents the balance on the loan servicing system for active loans. It is possible for the outstanding balance to be lower than the recorded investment for certain loans due to the use of pool accounting. | ||||||||||||||||||||||||||||||||||||
Table 58: Home Equity and Residential Real Estate Asset Quality Indicators – Excluding Purchased Impaired Loans (a) (b) | |||||||||||||||||||||||||||||||||||||
Home Equity | Residential Real Estate | ||||||||||||||||||||||||||||||||||||
March 31, 2015 - in millions | 1st Liens | 2nd Liens | Total | ||||||||||||||||||||||||||||||||||
Current estimated LTV ratios (c) | |||||||||||||||||||||||||||||||||||||
Greater than or equal to 125% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | $ | 324 | $ | 1,258 | $ | 345 | $ | 1,927 | |||||||||||||||||||||||||||||
Less than or equal to 660 (d) (e) | 56 | 251 | 98 | 405 | |||||||||||||||||||||||||||||||||
Missing FICO | 1 | 8 | 9 | 18 | |||||||||||||||||||||||||||||||||
Greater than or equal to 100% to less than 125% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 840 | 2,084 | 762 | 3,686 | |||||||||||||||||||||||||||||||||
Less than or equal to 660 (d) (e) | 123 | 371 | 149 | 643 | |||||||||||||||||||||||||||||||||
Missing FICO | 2 | 5 | 9 | 16 | |||||||||||||||||||||||||||||||||
Greater than or equal to 90% to less than 100% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 894 | 1,679 | 742 | 3,315 | |||||||||||||||||||||||||||||||||
Less than or equal to 660 | 108 | 261 | 103 | 472 | |||||||||||||||||||||||||||||||||
Missing FICO | 1 | 3 | 7 | 11 | |||||||||||||||||||||||||||||||||
Less than 90% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 13,857 | 7,661 | 7,983 | 29,501 | |||||||||||||||||||||||||||||||||
Less than or equal to 660 | 1,341 | 977 | 593 | 2,911 | |||||||||||||||||||||||||||||||||
Missing FICO | 23 | 14 | 107 | 144 | |||||||||||||||||||||||||||||||||
Total home equity and residential real estate loans | $ | 17,570 | $ | 14,572 | $ | 10,907 | $ | 43,049 | |||||||||||||||||||||||||||||
Home Equity | Residential Real Estate | ||||||||||||||||||||||||||||||||||||
December 31, 2014 - in millions | 1st Liens | 2nd Liens | Total | ||||||||||||||||||||||||||||||||||
Current estimated LTV ratios (c) | |||||||||||||||||||||||||||||||||||||
Greater than or equal to 125% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | $ | 333 | $ | 1,399 | $ | 360 | $ | 2,092 | |||||||||||||||||||||||||||||
Less than or equal to 660 (d) (e) | 57 | 273 | 92 | 422 | |||||||||||||||||||||||||||||||||
Missing FICO | 1 | 9 | 8 | 18 | |||||||||||||||||||||||||||||||||
Greater than or equal to 100% to less than 125% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 839 | 2,190 | 772 | 3,801 | |||||||||||||||||||||||||||||||||
Less than or equal to 660 (d) (e) | 118 | 383 | 153 | 654 | |||||||||||||||||||||||||||||||||
Missing FICO | 1 | 5 | 12 | 18 | |||||||||||||||||||||||||||||||||
Greater than or equal to 90% to less than 100% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 891 | 1,703 | 755 | 3,349 | |||||||||||||||||||||||||||||||||
Less than or equal to 660 | 103 | 271 | 118 | 492 | |||||||||||||||||||||||||||||||||
Missing FICO | 2 | 3 | 5 | 10 | |||||||||||||||||||||||||||||||||
Less than 90% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 13,878 | 7,874 | 7,703 | 29,455 | |||||||||||||||||||||||||||||||||
Less than or equal to 660 | 1,319 | 995 | 573 | 2,887 | |||||||||||||||||||||||||||||||||
Missing FICO | 27 | 14 | 109 | 150 | |||||||||||||||||||||||||||||||||
Total home equity and residential real estate loans | $ | 17,569 | $ | 15,119 | $ | 10,660 | $ | 43,348 | |||||||||||||||||||||||||||||
(a) | Excludes purchased impaired loans of approximately $4.3 billion and $4.5 billion in recorded investment, certain government insured or guaranteed residential real estate mortgages of approximately $1.1 billion and $1.2 billion, and loans held for sale at March 31, 2015 and December 31, 2014, respectively. See the Home Equity and Residential Real Estate Asset Quality Indicators - Purchased Impaired Loans table below for additional information on purchased impaired loans. | ||||||||||||||||||||||||||||||||||||
(b) | Amounts shown represent recorded investment. | ||||||||||||||||||||||||||||||||||||
(c) | Based upon updated LTV (inclusive of combined loan-to-value (CLTV) for first and subordinate lien positions). Updated LTV is estimated using modeled property values. These ratios are updated at least semi-annually. The related estimates and inputs are based upon an approach that uses a combination of third-party automated valuation models (AVMs), broker price opinions (BPOs), HPI indices, property location, internal and external balance information, origination data and management assumptions. In cases where we are in an originated second lien position, we generally utilize origination balances provided by a third-party which do not include an amortization assumption when calculating updated LTV. Accordingly, the results of these calculations do not represent actual appraised loan level collateral or updated LTV based upon a current first lien balance, and as such, are necessarily imprecise and subject to change as we enhance our methodology. | ||||||||||||||||||||||||||||||||||||
(d) | Higher risk loans are defined as loans with both an updated FICO score of less than or equal to 660 and an updated LTV greater than or equal to 100%. | ||||||||||||||||||||||||||||||||||||
(e) | The following states had the highest percentage of higher risk loans at March 31, 2015: New Jersey 14%, Pennsylvania 12%, Illinois 12%, Ohio 12%, Florida 7%, Maryland 6%, Michigan 5%. The remainder of the states had lower than 4% of the higher risk loans individually, and collectively they represent approximately 32% of the higher risk loans. The following states had the highest percentage of higher risk loans at December 31, 2014: New Jersey 14%, Illinois 12%, Pennsylvania 12%, Ohio 12%, Florida 8%, Maryland 6%, Michigan 5%, and North Carolina 4%. The remainder of the states had lower than 4% of the high risk loans individually, and collectively they represent approximately 28% of the higher risk loans. | ||||||||||||||||||||||||||||||||||||
Table 59: Home Equity and Residential Real Estate Asset Quality Indicators – Purchased Impaired Loans (a) | |||||||||||||||||||||||||||||||||||||
Home Equity (b) (c) | Residential Real Estate (b) (c) | ||||||||||||||||||||||||||||||||||||
March 31, 2015 - in millions | 1st Liens | 2nd Liens | Total | ||||||||||||||||||||||||||||||||||
Current estimated LTV ratios (d) | |||||||||||||||||||||||||||||||||||||
Greater than or equal to 125% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | $ | 7 | $ | 223 | $ | 244 | $ | 474 | |||||||||||||||||||||||||||||
Less than or equal to 660 | 9 | 117 | 138 | 264 | |||||||||||||||||||||||||||||||||
Missing FICO | 7 | 4 | 11 | ||||||||||||||||||||||||||||||||||
Greater than or equal to 100% to less than 125% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 14 | 407 | 262 | 683 | |||||||||||||||||||||||||||||||||
Less than or equal to 660 | 13 | 183 | 185 | 381 | |||||||||||||||||||||||||||||||||
Missing FICO | 10 | 5 | 15 | ||||||||||||||||||||||||||||||||||
Greater than or equal to 90% to less than 100% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 12 | 200 | 167 | 379 | |||||||||||||||||||||||||||||||||
Less than or equal to 660 | 9 | 95 | 119 | 223 | |||||||||||||||||||||||||||||||||
Missing FICO | 5 | 3 | 8 | ||||||||||||||||||||||||||||||||||
Less than 90% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 107 | 330 | 621 | 1,058 | |||||||||||||||||||||||||||||||||
Less than or equal to 660 | 104 | 191 | 505 | 800 | |||||||||||||||||||||||||||||||||
Missing FICO | 1 | 12 | 16 | 29 | |||||||||||||||||||||||||||||||||
Missing LTV and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 1 | 12 | 13 | ||||||||||||||||||||||||||||||||||
Less than or equal to 660 | 4 | 1 | 5 | ||||||||||||||||||||||||||||||||||
Total home equity and residential real estate loans | $ | 281 | $ | 1,780 | $ | 2,282 | $ | 4,343 | |||||||||||||||||||||||||||||
Home Equity (b) (c ) | Residential Real Estate (b) (c) | ||||||||||||||||||||||||||||||||||||
December 31, 2014 - in millions | 1st Liens | 2nd Liens | Total | ||||||||||||||||||||||||||||||||||
Current estimated LTV ratios (d) | |||||||||||||||||||||||||||||||||||||
Greater than or equal to 125% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | $ | 8 | $ | 243 | $ | 276 | $ | 527 | |||||||||||||||||||||||||||||
Less than or equal to 660 | 9 | 125 | 144 | 278 | |||||||||||||||||||||||||||||||||
Missing FICO | 8 | 6 | 14 | ||||||||||||||||||||||||||||||||||
Greater than or equal to 100% to less than 125% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 15 | 426 | 272 | 713 | |||||||||||||||||||||||||||||||||
Less than or equal to 660 | 12 | 194 | 200 | 406 | |||||||||||||||||||||||||||||||||
Missing FICO | 11 | 5 | 16 | ||||||||||||||||||||||||||||||||||
Greater than or equal to 90% to less than 100% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 12 | 207 | 186 | 405 | |||||||||||||||||||||||||||||||||
Less than or equal to 660 | 9 | 93 | 123 | 225 | |||||||||||||||||||||||||||||||||
Missing FICO | 5 | 3 | 8 | ||||||||||||||||||||||||||||||||||
Less than 90% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 102 | 339 | 626 | 1,067 | |||||||||||||||||||||||||||||||||
Less than or equal to 660 | 109 | 200 | 515 | 824 | |||||||||||||||||||||||||||||||||
Missing FICO | 1 | 12 | 15 | 28 | |||||||||||||||||||||||||||||||||
Missing LTV and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 1 | 14 | 15 | ||||||||||||||||||||||||||||||||||
Less than or equal to 660 | 4 | 10 | 14 | ||||||||||||||||||||||||||||||||||
Missing FICO | 1 | 1 | |||||||||||||||||||||||||||||||||||
Total home equity and residential real estate loans | $ | 282 | $ | 1,863 | $ | 2,396 | $ | 4,541 | |||||||||||||||||||||||||||||
(a) | Amounts shown represent outstanding balance. See Note 4 Purchased Loans for additional information. | ||||||||||||||||||||||||||||||||||||
(b) | For the estimate of cash flows utilized in our purchased impaired loan accounting, other assumptions and estimates are made, including amortization of first lien balances, pre-payment rates, etc., which are not reflected in this table. | ||||||||||||||||||||||||||||||||||||
(c) | The following states had the highest percentage of purchased impaired loans at March 31, 2015: California 17%, Florida 15%, Illinois 11%, Ohio 8%, North Carolina 7%, and Michigan 5%. The remainder of the states had lower than a 4% concentration of purchased impaired loans individually, and collectively they represent approximately 37% of the purchased impaired portfolio. The following states had the highest percentage of purchased impaired loans at December 31, 2014: California 17%, Florida 15%, Illinois 11%, Ohio 8%, North Carolina 7% and Michigan 5%. The remainder of the states had lower than a 4% concentration of purchased impaired loans individually, and collectively they represent approximately 37% of the purchased impaired portfolio. | ||||||||||||||||||||||||||||||||||||
(d) | Based upon updated LTV (inclusive of combined loan-to-value (CLTV) for first and subordinate lien positions). Updated LTV is estimated using modeled property values. These ratios are updated at least semi-annually. The related estimates and inputs are based upon an approach that uses a combination of third-party automated valuation models (AVMs), broker price opinions (BPOs), HPI indices, property location, internal and external balance information, origination data and management assumptions. In cases where we are in an originated second lien position, we generally utilize origination balances provided by a third-party which do not include an amortization assumption when calculating updated LTV. Accordingly, the results of these calculations do not represent actual appraised loan level collateral or updated LTV based upon a current first lien balance, and as such, are necessarily imprecise and subject to change as we enhance our methodology. | ||||||||||||||||||||||||||||||||||||
Credit Card and Other Consumer Loan Classes | |||||||||||||||||||||||||||||||||||||
Table 60: Credit Card and Other Consumer Loan Classes Asset Quality Indicators | |||||||||||||||||||||||||||||||||||||
Credit Card (a) | Other Consumer (b) | ||||||||||||||||||||||||||||||||||||
% of Total Loans | % of Total Loans | ||||||||||||||||||||||||||||||||||||
Using FICO | Using FICO | ||||||||||||||||||||||||||||||||||||
Dollars in millions | Amount | Credit Metric | Amount | Credit Metric | |||||||||||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||||||||||||||
FICO score greater than 719 | $ | 2,563 | 58 | % | $ | 9,069 | 64 | % | |||||||||||||||||||||||||||||
650 to 719 | 1,261 | 28 | 3,462 | 24 | |||||||||||||||||||||||||||||||||
620 to 649 | 200 | 5 | 547 | 4 | |||||||||||||||||||||||||||||||||
Less than 620 | 235 | 5 | 640 | 4 | |||||||||||||||||||||||||||||||||
No FICO score available or required (c) | 175 | 4 | 563 | 4 | |||||||||||||||||||||||||||||||||
Total loans using FICO credit metric | 4,434 | 100 | % | 14,281 | 100 | % | |||||||||||||||||||||||||||||||
Consumer loans using other internal credit metrics (b) | 7,778 | ||||||||||||||||||||||||||||||||||||
Total loan balance | $ | 4,434 | $ | 22,059 | |||||||||||||||||||||||||||||||||
Weighted-average updated FICO score (d) | 731 | 743 | |||||||||||||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||||||||||
FICO score greater than 719 | $ | 2,717 | 59 | % | $ | 9,156 | 64 | % | |||||||||||||||||||||||||||||
650 to 719 | 1,288 | 28 | 3,459 | 24 | |||||||||||||||||||||||||||||||||
620 to 649 | 203 | 4 | 528 | 4 | |||||||||||||||||||||||||||||||||
Less than 620 | 239 | 5 | 619 | 4 | |||||||||||||||||||||||||||||||||
No FICO score available or required (c) | 165 | 4 | 557 | 4 | |||||||||||||||||||||||||||||||||
Total loans using FICO credit metric | 4,612 | 100 | % | 14,319 | 100 | % | |||||||||||||||||||||||||||||||
Consumer loans using other internal credit metrics (b) | 8,434 | ||||||||||||||||||||||||||||||||||||
Total loan balance | $ | 4,612 | $ | 22,753 | |||||||||||||||||||||||||||||||||
Weighted-average updated FICO score (d) | 732 | 744 | |||||||||||||||||||||||||||||||||||
(a) | At March 31, 2015, we had $34 million of credit card loans that are higher risk (i.e., loans with both updated FICO scores less than 660 and in late stage (90+ days) | ||||||||||||||||||||||||||||||||||||
delinquency status). The majority of the March 31, 2015 balance related to higher risk credit card loans was geographically distributed throughout the following areas: | |||||||||||||||||||||||||||||||||||||
Ohio 17%, Pennsylvania 16%, Michigan 9%, Illinois 8%, New Jersey 7%, Florida 6%, Indiana 5%, and Kentucky 4%. All other states had less than 4% individually and | |||||||||||||||||||||||||||||||||||||
make up the remainder of the balance. At December 31, 2014, we had $35 million of credit card loans that are higher risk. The majority of the December 31, | |||||||||||||||||||||||||||||||||||||
2014 balance related to higher risk credit card loans was geographically distributed throughout the following areas: Ohio 17%, Pennsylvania 16%, Michigan 9%, Illinois 7%, | |||||||||||||||||||||||||||||||||||||
New Jersey 7%, Indiana 6%, Florida 6% and North Carolina 4%. All other states had less than 4% individually and make up the remainder of the balance. | |||||||||||||||||||||||||||||||||||||
(b) | Other consumer loans for which updated FICO scores are used as an asset quality indicator include non-government guaranteed or insured education loans, automobile | ||||||||||||||||||||||||||||||||||||
loans and other secured and unsecured lines and loans. Other consumer loans for which other internal credit metrics are used as an asset quality indicator include primarily | |||||||||||||||||||||||||||||||||||||
government guaranteed or insured education loans, as well as consumer loans to high net worth individuals. Other internal credit metrics may include delinquency status, | |||||||||||||||||||||||||||||||||||||
geography or other factors. | |||||||||||||||||||||||||||||||||||||
(c) | Credit card loans and other consumer loans with no FICO score available or required generally refers to new accounts issued to borrowers with limited credit history, accounts for which we cannot obtain an updated FICO score (e.g., recent profile changes), cards issued with a business name, and/or cards secured by collateral. Management proactively assesses the risk and size of this loan portfolio and, when necessary, takes actions to mitigate the credit risk. | ||||||||||||||||||||||||||||||||||||
(d) | Weighted-average updated FICO score excludes accounts with no FICO score available or required. | ||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings (TDRs) | |||||||||||||||||||||||||||||||||||||
See Note 3 Asset Quality in our 2014 Form 10-K for additional discussion on TDRs. We held specific reserves in the ALLL of $.3 billion and $.4 billion at March 31, 2015 and December 31, 2014, respectively, for the total TDR portfolio. | |||||||||||||||||||||||||||||||||||||
Table 61: Summary of Troubled Debt Restructurings | |||||||||||||||||||||||||||||||||||||
31-Mar | 31-Dec | ||||||||||||||||||||||||||||||||||||
In millions | 2015 | 2014 | |||||||||||||||||||||||||||||||||||
Total consumer lending | $ | 2,020 | $ | 2,041 | |||||||||||||||||||||||||||||||||
Total commercial lending | 510 | 542 | |||||||||||||||||||||||||||||||||||
Total TDRs | $ | 2,530 | $ | 2,583 | |||||||||||||||||||||||||||||||||
Nonperforming | $ | 1,317 | $ | 1,370 | |||||||||||||||||||||||||||||||||
Accruing (a) | 1,089 | 1,083 | |||||||||||||||||||||||||||||||||||
Credit card | 124 | 130 | |||||||||||||||||||||||||||||||||||
Total TDRs | $ | 2,530 | $ | 2,583 | |||||||||||||||||||||||||||||||||
(a) | Accruing TDR loans have demonstrated a period of at least six months of performance under the restructured terms and are excluded from nonperforming loans. Loans where borrowers have been discharged from personal liability through Chapter 7 bankruptcy and have not formally reaffirmed their loan obligations to PNC and loans to borrowers not currently obligated to make both principal and interest payments under the restructured terms are not returned to accrual status. | ||||||||||||||||||||||||||||||||||||
Table 62 quantifies the number of loans that were classified as TDRs as well as the change in the recorded investments as a result of the TDR classification during the first three months of 2015 and 2014, respectively. Additionally, the table provides information about the types of TDR concessions. The Principal Forgiveness TDR category includes principal forgiveness and accrued interest forgiveness. These types of TDRs result in a write down of the recorded investment and a charge-off if such action has not already taken place. The Rate Reduction TDR category includes reduced interest rate and interest deferral. The TDRs within this category result in reductions to future interest income. The Other TDR category primarily includes consumer borrowers that have been discharged from personal liability through Chapter 7 bankruptcy and have not formally reaffirmed their loan obligations to PNC, as well as postponement/reduction of scheduled amortization and contractual extensions for both consumer and commercial borrowers. | |||||||||||||||||||||||||||||||||||||
In some cases, there have been multiple concessions granted on one loan. This is most common within the commercial loan portfolio. When there have been multiple concessions granted in the commercial loan portfolio, the principal forgiveness concession was prioritized for purposes of determining the inclusion in Table 62. For example, if there is principal forgiveness in conjunction with lower interest rate and postponement of amortization, the type of concession will be reported as Principal Forgiveness. Second in priority would be rate reduction. For example, if there is an interest rate reduction in conjunction with postponement of amortization, the type of concession will be reported as a Rate Reduction. In the event that multiple concessions are granted on a consumer loan, concessions resulting from discharge from personal liability through Chapter 7 bankruptcy without formal affirmation of the loan obligations to PNC would be prioritized and included in the Other type of concession in the table below. After that, consumer loan concessions would follow the previously discussed priority of concessions for the commercial loan portfolio. | |||||||||||||||||||||||||||||||||||||
Table 62: Financial Impact and TDRs by Concession Type (a) | |||||||||||||||||||||||||||||||||||||
Pre-TDR | Post-TDR Recorded Investment (c) | ||||||||||||||||||||||||||||||||||||
During the three months ended March 31, 2015 | Number | Recorded | Principal | Rate | |||||||||||||||||||||||||||||||||
Dollars in millions | of Loans | Investment (b) | Forgiveness | Reduction | Other | Total | |||||||||||||||||||||||||||||||
Commercial lending | |||||||||||||||||||||||||||||||||||||
Commercial | 30 | $ | 53 | $ | 1 | $ | 1 | $ | 49 | $ | 51 | ||||||||||||||||||||||||||
Commercial real estate | 8 | 10 | 1 | 1 | 2 | ||||||||||||||||||||||||||||||||
Total commercial lending | 38 | 63 | 1 | 2 | 50 | 53 | |||||||||||||||||||||||||||||||
Consumer lending | |||||||||||||||||||||||||||||||||||||
Home equity | 712 | 45 | 23 | 19 | 42 | ||||||||||||||||||||||||||||||||
Residential real estate | 70 | 8 | 5 | 4 | 9 | ||||||||||||||||||||||||||||||||
Credit card | 1,684 | 14 | 13 | 13 | |||||||||||||||||||||||||||||||||
Other consumer | 272 | 4 | 1 | 2 | 3 | ||||||||||||||||||||||||||||||||
Total consumer lending | 2,738 | 71 | 42 | 25 | 67 | ||||||||||||||||||||||||||||||||
Total TDRs | 2,776 | $ | 134 | $ | 1 | $ | 44 | $ | 75 | $ | 120 | ||||||||||||||||||||||||||
During the three months ended March 31, 2014 | |||||||||||||||||||||||||||||||||||||
Dollars in millions | |||||||||||||||||||||||||||||||||||||
Commercial lending | |||||||||||||||||||||||||||||||||||||
Commercial | 34 | $ | 41 | $ | 38 | $ | 38 | ||||||||||||||||||||||||||||||
Commercial real estate | 23 | 41 | $ | 19 | 11 | 30 | |||||||||||||||||||||||||||||||
Total commercial lending | 57 | 82 | 19 | 49 | 68 | ||||||||||||||||||||||||||||||||
Consumer lending | |||||||||||||||||||||||||||||||||||||
Home equity | 831 | 52 | $ | 20 | 27 | 47 | |||||||||||||||||||||||||||||||
Residential real estate | 119 | 18 | 6 | 12 | 18 | ||||||||||||||||||||||||||||||||
Credit card | 1,972 | 16 | 16 | 16 | |||||||||||||||||||||||||||||||||
Other consumer | 265 | 4 | 3 | 3 | |||||||||||||||||||||||||||||||||
Total consumer lending | 3,187 | 90 | 42 | 42 | 84 | ||||||||||||||||||||||||||||||||
Total TDRs | 3,244 | $ | 172 | $ | 19 | $ | 42 | $ | 91 | $ | 152 | ||||||||||||||||||||||||||
(a) | Impact of partial charge-offs at TDR date are included in this table. | ||||||||||||||||||||||||||||||||||||
(b) | Represents the recorded investment of the loans as of the quarter end prior to TDR designation, and excludes immaterial amounts of accrued interest receivable. | ||||||||||||||||||||||||||||||||||||
(c) | Represents the recorded investment of the TDRs as of the end of the quarter in which the TDR occurs, and excludes immaterial amounts of accrued interest receivable. | ||||||||||||||||||||||||||||||||||||
After a loan is determined to be a TDR, we continue to track its performance under its most recent restructured terms. In Table 63, we consider a TDR to have subsequently defaulted when it becomes 60 days past due after the most recent date the loan was restructured. The following table presents the recorded investment of loans that both (i) were classified as TDRs or were subsequently modified during each 12-month period preceding January 1, 2015 and January 1, 2014, respectively, and (ii) subsequently defaulted during these reporting periods. | |||||||||||||||||||||||||||||||||||||
Table 63: TDRs that were Modified in the Past Twelve Months which have Subsequently Defaulted | |||||||||||||||||||||||||||||||||||||
During the three months ended March 31, 2015 | |||||||||||||||||||||||||||||||||||||
Dollars in millions | Number of Contracts | Recorded Investment | |||||||||||||||||||||||||||||||||||
Commercial lending | |||||||||||||||||||||||||||||||||||||
Commercial | 5 | $ | 1 | ||||||||||||||||||||||||||||||||||
Commercial real estate | 7 | 8 | |||||||||||||||||||||||||||||||||||
Total commercial lending | 12 | 9 | |||||||||||||||||||||||||||||||||||
Consumer lending | |||||||||||||||||||||||||||||||||||||
Home equity | 66 | 4 | |||||||||||||||||||||||||||||||||||
Residential real estate | 11 | 2 | |||||||||||||||||||||||||||||||||||
Credit card | 908 | 7 | |||||||||||||||||||||||||||||||||||
Other consumer | 37 | 1 | |||||||||||||||||||||||||||||||||||
Total consumer lending | 1,022 | 14 | |||||||||||||||||||||||||||||||||||
Total TDRs | 1,034 | $ | 23 | ||||||||||||||||||||||||||||||||||
During the three months ended March 31, 2014 | |||||||||||||||||||||||||||||||||||||
Dollars in millions | Number of Contracts | Recorded Investment | |||||||||||||||||||||||||||||||||||
Commercial lending | |||||||||||||||||||||||||||||||||||||
Commercial | 10 | $ | 6 | ||||||||||||||||||||||||||||||||||
Commercial real estate | 7 | 10 | |||||||||||||||||||||||||||||||||||
Total commercial lending | 17 | 16 | |||||||||||||||||||||||||||||||||||
Consumer lending (a) | |||||||||||||||||||||||||||||||||||||
Home equity | 116 | 7 | |||||||||||||||||||||||||||||||||||
Residential real estate | 25 | 3 | |||||||||||||||||||||||||||||||||||
Credit card | 1,157 | 9 | |||||||||||||||||||||||||||||||||||
Other consumer | 45 | 1 | |||||||||||||||||||||||||||||||||||
Total consumer lending | 1,343 | 20 | |||||||||||||||||||||||||||||||||||
Total TDRs | 1,360 | $ | 36 | ||||||||||||||||||||||||||||||||||
(a) | In the second quarter of 2014, we corrected our Consumer lending subsequent default (excluding credit card) determination process by further refining the data. For the three months ended March 31, 2014, this correction removed 533 contracts for approximately $44 million from Total consumer lending (excluding credit card). | ||||||||||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||||||||||
Impaired loans include commercial nonperforming loans and consumer and commercial TDRs, regardless of nonperforming status. TDRs that were previously recorded at amortized cost and are now classified and accounted for as held for sale are also included. Excluded from impaired loans are nonperforming leases, loans accounted for as held for sale other than the TDRs described in the preceding sentence, loans accounted for under the fair value option, smaller balance homogeneous type loans and purchased impaired loans. See Note 4 Purchased Loans for additional information. Nonperforming equipment lease financing loans of $2 million at both March 31, 2015 and December 31, 2014 are excluded from impaired loans pursuant to authoritative lease accounting guidance. We did not recognize any interest income on impaired loans that have not returned to performing status, while they were impaired during the three months ended March 31, 2015 and March 31, 2014. The following table provides further detail on impaired loans individually evaluated for impairment and the associated ALLL. Certain commercial impaired loans and loans to consumers discharged from bankruptcy and not formally reaffirmed do not have a related ALLL as the valuation of these impaired loans exceeded the recorded investment. | |||||||||||||||||||||||||||||||||||||
Table 64: Impaired Loans | |||||||||||||||||||||||||||||||||||||
Unpaid | Average | ||||||||||||||||||||||||||||||||||||
Principal | Recorded | Associated | Recorded | ||||||||||||||||||||||||||||||||||
In millions | Balance | Investment (a) | Allowance (b) | Investment (c) | |||||||||||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||||||||||||||
Impaired loans with an associated allowance | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 395 | $ | 291 | $ | 62 | $ | 304 | |||||||||||||||||||||||||||||
Commercial real estate | 382 | 232 | 55 | 247 | |||||||||||||||||||||||||||||||||
Home equity | 999 | 985 | 193 | 984 | |||||||||||||||||||||||||||||||||
Residential real estate | 531 | 412 | 73 | 417 | |||||||||||||||||||||||||||||||||
Credit card | 124 | 124 | 28 | 127 | |||||||||||||||||||||||||||||||||
Other consumer | 62 | 44 | 1 | 45 | |||||||||||||||||||||||||||||||||
Total impaired loans with an associated allowance | $ | 2,493 | $ | 2,088 | $ | 412 | $ | 2,124 | |||||||||||||||||||||||||||||
Impaired loans without an associated allowance | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 111 | $ | 96 | $ | 90 | |||||||||||||||||||||||||||||||
Commercial real estate | 227 | 169 | 178 | ||||||||||||||||||||||||||||||||||
Home equity | 419 | 141 | 143 | ||||||||||||||||||||||||||||||||||
Residential real estate | 326 | 314 | 314 | ||||||||||||||||||||||||||||||||||
Total impaired loans without an associated allowance | $ | 1,083 | $ | 720 | $ | 725 | |||||||||||||||||||||||||||||||
Total impaired loans | $ | 3,576 | $ | 2,808 | $ | 412 | $ | 2,849 | |||||||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||||||||||
Impaired loans with an associated allowance | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 432 | $ | 318 | $ | 74 | $ | 360 | |||||||||||||||||||||||||||||
Commercial real estate | 418 | 262 | 65 | 283 | |||||||||||||||||||||||||||||||||
Home equity | 1,021 | 984 | 215 | 986 | |||||||||||||||||||||||||||||||||
Residential real estate | 397 | 420 | 75 | 422 | |||||||||||||||||||||||||||||||||
Credit card | 130 | 130 | 32 | 147 | |||||||||||||||||||||||||||||||||
Other consumer | 64 | 47 | 2 | 51 | |||||||||||||||||||||||||||||||||
Total impaired loans with an associated allowance | $ | 2,462 | $ | 2,161 | $ | 463 | $ | 2,249 | |||||||||||||||||||||||||||||
Impaired loans without an associated allowance | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 106 | $ | 84 | $ | 133 | |||||||||||||||||||||||||||||||
Commercial real estate | 249 | 187 | 276 | ||||||||||||||||||||||||||||||||||
Home equity | 403 | 145 | 134 | ||||||||||||||||||||||||||||||||||
Residential real estate | 344 | 315 | 365 | ||||||||||||||||||||||||||||||||||
Total impaired loans without an associated allowance | $ | 1,102 | $ | 731 | $ | 908 | |||||||||||||||||||||||||||||||
Total impaired loans | $ | 3,564 | $ | 2,892 | $ | 463 | $ | 3,157 | |||||||||||||||||||||||||||||
(a) | Recorded investment in a loan includes the unpaid principal balance plus accrued interest and net accounting adjustments, less any charge-offs. Recorded investment does not include any associated valuation allowance. | ||||||||||||||||||||||||||||||||||||
(b) | Associated allowance amounts include $.3 billion and $.4 billion for TDRs at March 31, 2015 and December 31, 2014, respectively. | ||||||||||||||||||||||||||||||||||||
(c) | Average recorded investment is for the three months ended March 31, 2015 and the year ended December 31, 2014, respectively. |
Purchased_Loans
Purchased Loans | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
Purchased Loans [Abstract] | ||||||||||||||||||||
Purchased Loans | Note 4 Purchased Loans | |||||||||||||||||||
Purchased Impaired Loans | ||||||||||||||||||||
Purchased impaired loan accounting addresses differences between contractual cash flows and cash flows expected to be collected from the initial investment in loans if those differences are attributable, at least in part, to credit quality. Several factors were considered when evaluating whether a loan was considered a purchased impaired loan, including the delinquency status of the loan, updated borrower credit status, geographic information, and updated LTV. GAAP allows purchasers to account for loans individually or to aggregate purchased impaired loans acquired in the same fiscal quarter into one or more pools, provided that the loans have common risk characteristics. A pool is then accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows. Purchased impaired homogeneous consumer, residential real estate and smaller balance commercial loans with common risk characteristics are aggregated into pools where appropriate, whereas commercial loans with a total commitment greater than a defined threshold are accounted for individually. For pooled loans, proceeds of individual loans are not applied individually to each loan within a pool, but to the pool’s recorded investment since it is accounted for as a single asset. Upon final disposition of a loan within a pool (e.g., payoff, short-sale, foreclosure, etc.), the loan’s carrying value is removed from the pool and any gain or loss associated with the transaction is retained in the pool’s recorded investment. For example, upon final disposition of a loan by short-sale, the proceeds of the short-sale may be less (or more) than the loan’s recorded investment. This shortfall or loss (excess or gain) is not accounted for as an individual loan sale in our income statement and is instead retained as part of the pool’s recorded investment consistent with our accounting for the pool as a single asset. This treatment is designed to maintain a constant effective yield for recognition of interest income. Accordingly, a pool’s recorded investment includes the net accumulation of realized losses or gains attributable to these final dispositions. As there are no future expected cash flows related to these dispositions, their net carrying value is $0. The recorded investment, including these realized losses and gains, is evaluated for collectability based upon the net present value of the pool’s remaining expected cash flows when establishing our allowance for loan losses. See below and Note 1 Accounting Policies and Note 5 Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters of Credit for additional information. | ||||||||||||||||||||
The following table provides balances of purchased impaired loans at March 31, 2015 and December 31, 2014: | ||||||||||||||||||||
Table 65: Purchased Impaired Loans - Balances | ||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||
In millions | OutstandingBalance (a) | Recorded Investment | Carrying Value | OutstandingBalance (a) | Recorded Investment | Carrying Value | ||||||||||||||
Commercial lending | ||||||||||||||||||||
Commercial | $ | 142 | $ | 60 | $ | 44 | $ | 159 | $ | 74 | $ | 57 | ||||||||
Commercial real estate | 256 | 216 | 152 | 307 | 236 | 174 | ||||||||||||||
Total commercial lending | 398 | 276 | 196 | 466 | 310 | 231 | ||||||||||||||
Consumer lending | ||||||||||||||||||||
Consumer | 2,056 | 1,918 | 1,595 | 2,145 | 1,989 | 1,661 | ||||||||||||||
Residential real estate | 2,287 | 2,481 | 2,023 | 2,396 | 2,559 | 2,094 | ||||||||||||||
Total consumer lending | 4,343 | 4,399 | 3,618 | 4,541 | 4,548 | 3,755 | ||||||||||||||
Total | $ | 4,741 | $ | 4,675 | $ | 3,814 | $ | 5,007 | $ | 4,858 | $ | 3,986 | ||||||||
(a) Outstanding balance represents the balance on the loan servicing system for active loans. It is possible for the outstanding balance to be lower than the recorded investment for certain loans due to the use of pool accounting. | ||||||||||||||||||||
The excess of undiscounted cash flows expected at acquisition over the estimated fair value is referred to as the accretable yield and is recognized as interest income over the remaining life of the loan using the constant effective yield method. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the non-accretable difference and is not recognized in income. Subsequent changes in the expected cash flows of individual or pooled purchased impaired loans will either impact the accretable yield or result in an impairment charge to provision for credit losses in the period in which the changes become probable. Decreases to the net present value of expected cash flows will generally result in an impairment charge recorded as a provision for credit losses, resulting in an increase to the allowance for loan and lease losses, and a reclassification from accretable yield to non-accretable difference. | ||||||||||||||||||||
During the first three months of 2015, $12 million of provision recapture was recorded for purchased impaired loans compared to $43 million of provision recapture during the first three months of 2014. Charge-off recoveries (which were specifically for commercial loans greater than a defined threshold) during the first three months of 2015 were $1 million compared to charge-offs of $14 million during the first three months of 2014. At March 31, 2015, the allowance for loan and lease losses was $.9 billion on $4.3 billion of purchased impaired loans while the remaining $.4 billion of purchased impaired loans required no allowance as the net present value of expected cash flows equaled or exceeded the recorded investment. As of December 31, 2014, the allowance for loan and lease losses related to purchased impaired loans was $.9 billion. If any allowance for loan losses is recognized on a purchased impaired pool, which is accounted for as a single asset, the entire balance of that pool would be disclosed as requiring an allowance. Subsequent increases in the net present value of cash flows will result in a provision recapture of any previously recorded allowance for loan and lease losses, to the extent applicable, and/or a reclassification from non-accretable difference to accretable yield, which will be recognized prospectively. Individual loan transactions where final dispositions have occurred (as noted above) result in removal of the loans from their applicable pools for cash flow estimation purposes. The cash flow re-estimation process is completed quarterly to evaluate the appropriateness of the allowance associated with the purchased impaired loans. | ||||||||||||||||||||
Activity for the accretable yield during the first three months of 2015 and 2014 follows: | ||||||||||||||||||||
Table 66: Purchased Impaired Loans - Accretable Yield | ||||||||||||||||||||
In millions | 2015 | 2014 | ||||||||||||||||||
1-Jan | $ | 1,558 | $ | 2,055 | ||||||||||||||||
Accretion (including excess cash recoveries) | -132 | -154 | ||||||||||||||||||
Net reclassifications to accretable from non-accretable (a) | 64 | 95 | ||||||||||||||||||
Disposals | -6 | -8 | ||||||||||||||||||
31-Mar | $ | 1,484 | $ | 1,988 | ||||||||||||||||
(a) | Approximately 90% and 95% of the net reclassifications for the three months ended March 31, 2015 and 2014, respectively, were driven by the consumer portfolio and were due to improvements of cash expected to be collected on loans in future periods. The remaining net reclassifications were predominantly due to future cash flow changes in the commercial portfolio. |
Allowances_for_Loan_and_Lease_
Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters Of Credit | 3 Months Ended | |||||||||||||||
Mar. 31, 2015 | ||||||||||||||||
Allowance For Loan And Lease Losses [Abstract] | ||||||||||||||||
Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters Of Credit | Note 5 Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters of Credit | |||||||||||||||
Allowance for Loan and Lease Losses | ||||||||||||||||
We maintain the ALLL at levels that we believe to be appropriate to absorb estimated probable credit losses incurred in the portfolios as of the balance sheet date. We use the two main portfolio segments – Commercial Lending and Consumer Lending – and develop and document the ALLL under separate methodologies for each of these segments as discussed in Note 1 Accounting Policies. A rollforward of the ALLL and associated loan data follows. | ||||||||||||||||
Table 67: Rollforward of Allowance for Loan and Lease Losses and Associated Loan Data | ||||||||||||||||
Commercial | Consumer | |||||||||||||||
In millions | Lending | Lending | Total | |||||||||||||
31-Mar-15 | ||||||||||||||||
Allowance for Loan and Lease Losses | ||||||||||||||||
1-Jan | $ | 1,571 | $ | 1,760 | $ | 3,331 | ||||||||||
Charge-offs | -46 | -143 | -189 | |||||||||||||
Recoveries | 45 | 41 | 86 | |||||||||||||
Net charge-offs | -1 | -102 | -103 | |||||||||||||
Provision for credit losses | -2 | 56 | 54 | |||||||||||||
Net change in allowance for unfunded loan commitments and letters of credit | 25 | 25 | ||||||||||||||
Other | -1 | -1 | ||||||||||||||
31-Mar | $ | 1,592 | $ | 1,714 | $ | 3,306 | ||||||||||
TDRs individually evaluated for impairment | $ | 47 | $ | 295 | $ | 342 | ||||||||||
Other loans individually evaluated for impairment | 70 | 70 | ||||||||||||||
Loans collectively evaluated for impairment | 1,395 | 638 | 2,033 | |||||||||||||
Purchased impaired loans | 80 | 781 | 861 | |||||||||||||
31-Mar | $ | 1,592 | $ | 1,714 | $ | 3,306 | ||||||||||
Loan Portfolio | ||||||||||||||||
TDRs individually evaluated for impairment (a) | $ | 510 | $ | 2,020 | $ | 2,530 | ||||||||||
Other loans individually evaluated for impairment | 278 | 278 | ||||||||||||||
Loans collectively evaluated for impairment (b) | 128,611 | 67,627 | 196,238 | |||||||||||||
Fair value option loans (c) | 1,001 | 1,001 | ||||||||||||||
Purchased impaired loans | 276 | 4,399 | 4,675 | |||||||||||||
31-Mar | $ | 129,675 | $ | 75,047 | $ | 204,722 | ||||||||||
Portfolio segment ALLL as a percentage of total ALLL | 48 | % | 52 | % | 100 | % | ||||||||||
Ratio of the allowance for loan and lease losses to total loans | 1.23 | % | 2.28 | % | 1.61 | % | ||||||||||
31-Mar-14 | ||||||||||||||||
Allowance for Loan and Lease Losses | ||||||||||||||||
1-Jan | $ | 1,547 | $ | 2,062 | $ | 3,609 | ||||||||||
Charge-offs | -105 | -195 | -300 | |||||||||||||
Recoveries | 74 | 40 | 114 | |||||||||||||
Net charge-offs | -31 | -155 | -186 | |||||||||||||
Provision for credit losses | 18 | 76 | 94 | |||||||||||||
Net change in allowance for unfunded loan commitments and letters of credit | 16 | -2 | 14 | |||||||||||||
Other | -1 | -1 | ||||||||||||||
31-Mar | $ | 1,549 | $ | 1,981 | $ | 3,530 | ||||||||||
TDRs individually evaluated for impairment | $ | 33 | $ | 431 | $ | 464 | ||||||||||
Other loans individually evaluated for impairment | 133 | 133 | ||||||||||||||
Loans collectively evaluated for impairment | 1,260 | 725 | 1,985 | |||||||||||||
Purchased impaired loans | 123 | 825 | 948 | |||||||||||||
31-Mar | $ | 1,549 | $ | 1,981 | $ | 3,530 | ||||||||||
Loan Portfolio | ||||||||||||||||
TDRs individually evaluated for impairment (a) | $ | 576 | $ | 2,134 | $ | 2,710 | ||||||||||
Other loans individually evaluated for impairment | 588 | 588 | ||||||||||||||
Loans collectively evaluated for impairment (b) (c) | 119,040 | 68,937 | 187,977 | |||||||||||||
Fair value option loans (c) (d) | 1,143 | 1,143 | ||||||||||||||
Purchased impaired loans | 569 | 5,255 | 5,824 | |||||||||||||
31-Mar | $ | 120,773 | $ | 77,469 | $ | 198,242 | ||||||||||
Portfolio segment ALLL as a percentage of total ALLL | 44 | % | 56 | % | 100 | % | ||||||||||
Ratio of the allowance for loan and lease losses to total loans | 1.28 | % | 2.56 | % | 1.78 | % | ||||||||||
(a) | TDRs individually evaluated for impairment exclude TDRs that were subsequently accounted for as held for sale loans, but continue to be disclosed as TDRs. | |||||||||||||||
(b) | Includes $183 million of loans collectively evaluated for impairment based upon collateral values and written down to the respective collateral value less costs to sell at March, | |||||||||||||||
31, 2015. Accordingly, there is no allowance recorded for these loans. The comparative amount as of March 31, 2014 was $246 million. | ||||||||||||||||
(c) | Prior period amounts were corrected to include transferred loans over which PNC regained effective control as fair value option loans. This resulted in an increase of $93 million in consumer lending fair value option loans and a corresponding decrease of $93 million in consumer lending loans collectively evaluated for impairment. | |||||||||||||||
(d) | Loans accounted for under the fair value option are not evaluated for impairment as these loans are accounted for at fair value. Accordingly, there is no allowance recorded on these loans. | |||||||||||||||
Allowance for Unfunded Loan Commitments and Letters of Credit | ||||||||||||||||
We maintain the allowance for unfunded loan commitments and letters of credit at a level we believe is appropriate to absorb estimated probable credit losses on these unfunded credit facilities as of the balance sheet date as discussed in Note 1 Accounting Policies. A rollforward of the allowance is presented below. | ||||||||||||||||
Table 68: Rollforward of Allowance for Unfunded Loan Commitments and Letters of Credit | ||||||||||||||||
In millions | 2015 | 2014 | ||||||||||||||
1-Jan | $ | 259 | $ | 242 | ||||||||||||
Net change in allowance for unfunded loan commitments and letters of credit | -25 | -14 | ||||||||||||||
31-Mar | $ | 234 | $ | 228 | ||||||||||||
Investment_Securities
Investment Securities | 3 Months Ended | ||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||
Investment Securities Disclosure [Abstract] | |||||||||||||||||||||||
Investment Securities | Note 6 Investment Securities | ||||||||||||||||||||||
Table 69: Investment Securities Summary | |||||||||||||||||||||||
Amortized | Unrealized | Fair | |||||||||||||||||||||
In millions | Cost | Gains | Losses | Value | |||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||||||
Debt securities | |||||||||||||||||||||||
U.S. Treasury and government agencies | $ | 5,293 | $ | 203 | $ | 5,496 | |||||||||||||||||
Residential mortgage-backed | |||||||||||||||||||||||
Agency | 20,844 | 451 | $ | -27 | 21,268 | ||||||||||||||||||
Non-agency | 4,557 | 305 | -98 | 4,764 | |||||||||||||||||||
Commercial mortgage-backed | |||||||||||||||||||||||
Agency | 2,118 | 30 | -5 | 2,143 | |||||||||||||||||||
Non-agency | 4,292 | 91 | -5 | 4,378 | |||||||||||||||||||
Asset-backed | 5,157 | 84 | -26 | 5,215 | |||||||||||||||||||
State and municipal | 2,003 | 86 | -3 | 2,086 | |||||||||||||||||||
Other debt | 1,817 | 52 | -3 | 1,866 | |||||||||||||||||||
Total debt securities | 46,081 | 1,302 | -167 | 47,216 | |||||||||||||||||||
Corporate stocks and other | 364 | -1 | 363 | ||||||||||||||||||||
Total securities available for sale | $ | 46,445 | $ | 1,302 | $ | -168 | $ | 47,579 | |||||||||||||||
Securities Held to Maturity (a) | |||||||||||||||||||||||
Debt securities | |||||||||||||||||||||||
U.S. Treasury and government agencies | $ | 251 | $ | 52 | $ | 303 | |||||||||||||||||
Residential mortgage-backed | |||||||||||||||||||||||
Agency | 7,558 | 188 | $ | -6 | 7,740 | ||||||||||||||||||
Non-agency | 262 | 15 | 277 | ||||||||||||||||||||
Commercial mortgage-backed | |||||||||||||||||||||||
Agency | 1,148 | 58 | 1,206 | ||||||||||||||||||||
Non-agency | 891 | 25 | 916 | ||||||||||||||||||||
Asset-backed | 747 | 2 | -7 | 742 | |||||||||||||||||||
State and municipal | 2,014 | 117 | 2,131 | ||||||||||||||||||||
Other debt | 318 | 7 | 325 | ||||||||||||||||||||
Total securities held to maturity | $ | 13,189 | $ | 464 | $ | -13 | $ | 13,640 | |||||||||||||||
31-Dec-14 | |||||||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||||||
Debt securities | |||||||||||||||||||||||
U.S. Treasury and government agencies | $ | 5,237 | $ | 186 | $ | -1 | $ | 5,422 | |||||||||||||||
Residential mortgage-backed | |||||||||||||||||||||||
Agency | 17,646 | 438 | -41 | 18,043 | |||||||||||||||||||
Non-agency | 4,723 | 318 | -99 | 4,942 | |||||||||||||||||||
Commercial mortgage-backed | |||||||||||||||||||||||
Agency | 2,178 | 23 | -14 | 2,187 | |||||||||||||||||||
Non-agency | 4,085 | 88 | -11 | 4,162 | |||||||||||||||||||
Asset-backed | 5,141 | 78 | -32 | 5,187 | |||||||||||||||||||
State and municipal | 1,953 | 88 | -3 | 2,038 | |||||||||||||||||||
Other debt | 1,776 | 43 | -6 | 1,813 | |||||||||||||||||||
Total debt securities | 42,739 | 1,262 | -207 | 43,794 | |||||||||||||||||||
Corporate stocks and other | 442 | -1 | 441 | ||||||||||||||||||||
Total securities available for sale | $ | 43,181 | $ | 1,262 | $ | -208 | $ | 44,235 | |||||||||||||||
Securities Held to Maturity (a) | |||||||||||||||||||||||
Debt securities | |||||||||||||||||||||||
U.S. Treasury and government agencies | $ | 248 | $ | 44 | $ | 292 | |||||||||||||||||
Residential mortgage-backed | |||||||||||||||||||||||
Agency | 5,736 | 166 | $ | -10 | 5,892 | ||||||||||||||||||
Non-agency | 270 | 13 | 283 | ||||||||||||||||||||
Commercial mortgage-backed | |||||||||||||||||||||||
Agency | 1,200 | 53 | 1,253 | ||||||||||||||||||||
Non-agency | 1,010 | 19 | 1,029 | ||||||||||||||||||||
Asset-backed | 759 | 2 | -8 | 753 | |||||||||||||||||||
State and municipal | 2,042 | 111 | 2,153 | ||||||||||||||||||||
Other debt | 323 | 6 | 329 | ||||||||||||||||||||
Total securities held to maturity | $ | 11,588 | $ | 414 | $ | -18 | $ | 11,984 | |||||||||||||||
(a) | Held to maturity securities transferred from available for sale are included in held to maturity at fair value at the time of transfer. The amortized cost of held to maturity securities included net unrealized gains of $118 million and $125 million at March 31, 2015 and December 31, 2014, respectively, related to securities transferred, which are offset in Accumulated Other Comprehensive Income, net of tax. | ||||||||||||||||||||||
The fair value of investment securities is impacted by interest rates, credit spreads, market volatility and liquidity conditions. Net unrealized gains and losses in the securities available for sale portfolio are included in Shareholders’ equity as Accumulated other comprehensive income or loss, net of tax, unless credit-related. Securities held to maturity are carried at amortized cost. At March 31, 2015, Accumulated other comprehensive income included pretax gains of $91 million from derivatives that hedged the purchase of investment securities classified as held to maturity. The gains will be accreted into interest income as an adjustment of yield on the securities. | |||||||||||||||||||||||
Table 70 presents gross unrealized losses on securities available for sale at March 31, 2015 and December 31, 2014. The securities are segregated between investments that have been in a continuous unrealized loss position for less than twelve months and twelve months or more based on the point in time that the fair value declined below the amortized cost basis. The table includes debt securities where a portion of other-than-temporary impairment (OTTI) has been recognized in Accumulated other comprehensive income (loss). | |||||||||||||||||||||||
Table 70: Gross Unrealized Loss and Fair Value of Securities Available for Sale | |||||||||||||||||||||||
Unrealized loss position less | Unrealized loss position 12 | ||||||||||||||||||||||
In millions | than 12 months | months or more | Total | ||||||||||||||||||||
Unrealized | Fair | Unrealized | Fair | Unrealized | Fair | ||||||||||||||||||
Loss | Value | Loss | Value | Loss | Value | ||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||
Debt securities | |||||||||||||||||||||||
U.S. Treasury and government agencies | (a) | $ | 365 | (a) | $ | 365 | |||||||||||||||||
Residential mortgage-backed | |||||||||||||||||||||||
Agency | $ | -9 | 2,484 | $ | -18 | $ | 1,421 | $ | -27 | 3,905 | |||||||||||||
Non-agency | -6 | 469 | -92 | 1,404 | -98 | 1,873 | |||||||||||||||||
Commercial mortgage-backed | |||||||||||||||||||||||
Agency | -1 | 259 | -4 | 140 | -5 | 399 | |||||||||||||||||
Non-agency | -4 | 889 | -1 | 299 | -5 | 1,188 | |||||||||||||||||
Asset-backed | -2 | 758 | -24 | 749 | -26 | 1,507 | |||||||||||||||||
State and municipal | -1 | 103 | -2 | 65 | -3 | 168 | |||||||||||||||||
Other debt | -1 | 111 | -2 | 135 | -3 | 246 | |||||||||||||||||
Total debt securities | -24 | 5,438 | -143 | 4,213 | -167 | 9,651 | |||||||||||||||||
Corporate stocks and other | -1 | 15 | -1 | 15 | |||||||||||||||||||
Total | $ | -24 | $ | 5,438 | $ | -144 | $ | 4,228 | $ | -168 | $ | 9,666 | |||||||||||
31-Dec-14 | |||||||||||||||||||||||
Debt securities | |||||||||||||||||||||||
U.S. Treasury and government agencies | $ | -1 | $ | 1,426 | $ | -1 | $ | 1,426 | |||||||||||||||
Residential mortgage-backed | |||||||||||||||||||||||
Agency | -4 | 644 | $ | -37 | $ | 1,963 | -41 | 2,607 | |||||||||||||||
Non-agency | -5 | 276 | -94 | 1,487 | -99 | 1,763 | |||||||||||||||||
Commercial mortgage-backed | |||||||||||||||||||||||
Agency | -2 | 681 | -12 | 322 | -14 | 1,003 | |||||||||||||||||
Non-agency | -4 | 928 | -7 | 335 | -11 | 1,263 | |||||||||||||||||
Asset-backed | -4 | 913 | -28 | 1,133 | -32 | 2,046 | |||||||||||||||||
State and municipal | (a) | 41 | -3 | 77 | -3 | 118 | |||||||||||||||||
Other debt | -2 | 314 | -4 | 186 | -6 | 500 | |||||||||||||||||
Total debt securities | -22 | 5,223 | -185 | 5,503 | -207 | 10,726 | |||||||||||||||||
Corporate stocks and other | -1 | 15 | -1 | 15 | |||||||||||||||||||
Total | $ | -22 | $ | 5,223 | $ | -186 | $ | 5,518 | $ | -208 | $ | 10,741 | |||||||||||
(a) | The unrealized loss on these securities was less than $.5 million. | ||||||||||||||||||||||
The gross unrealized loss on debt securities held to maturity was $15 million at March 31, 2015 and $22 million at December 31, 2014. The fair value of debt securities held to maturity that were in a continuous loss position for less than 12 months was $494 million and $134 million at March 31, 2015 and December 31, 2014, respectively, and for positions that were in a continuous loss position for 12 months or more was $1.0 billion and $1.6 billion at March 31, 2015 and December 31, 2014, respectively. For securities transferred to held to maturity from available for sale, the unrealized loss for purposes of this analysis is determined by comparing the security’s original amortized cost to its current estimated fair value. | |||||||||||||||||||||||
Evaluating Investment Securities for Other-than-Temporary Impairments | |||||||||||||||||||||||
For the securities in the preceding Table 70, as of March 31, 2015 we do not intend to sell and believe we will not be required to sell the securities prior to recovery of the amortized cost basis. | |||||||||||||||||||||||
At least quarterly, we conduct a comprehensive security-level assessment on all securities. For those securities in an unrealized loss position we determine if OTTI exists. An unrealized loss exists when the current fair value of an individual security is less than its amortized cost basis. An OTTI loss must be recognized for a debt security in an unrealized loss position if we intend to sell the security or it is more likely than not we will be required to sell the security prior to recovery of its amortized cost basis. In this situation, the amount of loss recognized in income is equal to the difference between the fair value and the amortized cost basis of the security. Even if we do not expect to sell the security, we must evaluate the expected cash flows to be received to determine if we believe a credit loss has occurred. In the event of a credit loss, only the amount of impairment associated with the credit loss is recognized in income. The portion of the unrealized loss relating to other factors, such as liquidity conditions in the market or changes in market interest rates, is recorded in accumulated other comprehensive income (loss). | |||||||||||||||||||||||
The security-level assessment is performed on each investment security. Our assessment considers the security structure, recent security collateral performance metrics if applicable, external credit ratings, failure of the issuer to make scheduled interest or principal payments, our judgment and expectations of future performance, and relevant independent industry research, analysis and forecasts. Results of the periodic assessment are reviewed by a cross-functional senior management team representing Asset & Liability Management, Finance, and Market Risk Management. The senior management team considers the results of the assessments, as well as other factors, in determining whether the impairment is other-than-temporary. | |||||||||||||||||||||||
Substantially all of the credit impairment we have recognized relates to non-agency residential mortgage-backed securities and asset-backed securities collateralized by first-lien and second-lien non-agency residential mortgage loans. Potential credit losses on these securities are evaluated on a security-by-security basis. Collateral performance assumptions are developed for each security after reviewing collateral composition and collateral performance statistics. This includes analyzing recent delinquency roll rates, loss severities, voluntary prepayments and various other collateral and performance metrics. This information is then combined with general expectations on the housing market, employment and other macroeconomic factors to develop estimates of future performance. | |||||||||||||||||||||||
Security level assumptions for prepayments, loan defaults and loss given default are applied to each non-agency residential mortgage-backed security and asset-backed security collateralized by first-lien and second-lien non-agency residential mortgage loans using a third-party cash flow model. The third-party cash flow model then generates projected cash flows according to the structure of each security. Based on the results of the cash flow analysis, we determine whether we expect that we will recover the amortized cost basis of our security. | |||||||||||||||||||||||
The following table presents a rollforward of the cumulative OTTI credit losses recognized in earnings for all debt securities for which a portion of an OTTI loss was recognized in Accumulated other comprehensive income (loss | |||||||||||||||||||||||
Table 71: Rollforward of Cumulative OTTI Credit Losses Recognized in Earnings | |||||||||||||||||||||||
Three months ended March 31, | |||||||||||||||||||||||
In millions | 2015 | 2014 | |||||||||||||||||||||
Balance at beginning of period | $ | -1,164 | $ | -1,160 | |||||||||||||||||||
Additional loss where credit impairment was previously recognized | -1 | -2 | |||||||||||||||||||||
Reduction due to credit impaired securities sold or matured | 5 | ||||||||||||||||||||||
Balance at end of period | $ | -1,165 | $ | -1,157 | |||||||||||||||||||
Information relating to gross realized securities gains and losses from the sales of securities is set forth in the following table. | |||||||||||||||||||||||
Table 72: Gains (Losses) on Sales of Securities Available for Sale | |||||||||||||||||||||||
Gross | Gross | Net | Tax | ||||||||||||||||||||
In millions | Proceeds | Gains | Losses | Gains | Expense | ||||||||||||||||||
Three months ended March 31 | |||||||||||||||||||||||
2015 | $ | 1,804 | $ | 43 | $ | -1 | $ | 42 | $ | 15 | |||||||||||||
2014 | 1,361 | 16 | -6 | 10 | 4 | ||||||||||||||||||
The following table presents, by remaining contractual maturity, the amortized cost, fair value and weighted-average yield of debt securities at March 31, 2015. | |||||||||||||||||||||||
Table 73: Contractual Maturity of Debt Securities | |||||||||||||||||||||||
31-Mar-15 | After 1 Year | After 5 Years | After 10 | ||||||||||||||||||||
Dollars in millions | 1 Year or Less | through 5 Years | through 10 Years | Years | Total | ||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||||||
U.S. Treasury and government agencies | $ | 2 | $ | 1,315 | $ | 3,480 | $ | 496 | $ | 5,293 | |||||||||||||
Residential mortgage-backed | |||||||||||||||||||||||
Agency | 113 | 794 | 19,937 | 20,844 | |||||||||||||||||||
Non-agency | 6 | 1 | 4,550 | 4,557 | |||||||||||||||||||
Commercial mortgage-backed | |||||||||||||||||||||||
Agency | 104 | 156 | 45 | 1,813 | 2,118 | ||||||||||||||||||
Non-agency | 87 | 4,205 | 4,292 | ||||||||||||||||||||
Asset-backed | 2 | 1,004 | 2,187 | 1,964 | 5,157 | ||||||||||||||||||
State and municipal | 4 | 145 | 300 | 1,554 | 2,003 | ||||||||||||||||||
Other debt | 147 | 1,141 | 339 | 190 | 1,817 | ||||||||||||||||||
Total debt securities available for sale | $ | 259 | $ | 3,967 | $ | 7,146 | $ | 34,709 | $ | 46,081 | |||||||||||||
Fair value | $ | 262 | $ | 4,066 | $ | 7,267 | $ | 35,621 | $ | 47,216 | |||||||||||||
Weighted-average yield, GAAP basis | 3.17 | % | 2.55 | % | 2.35 | % | 2.98 | % | 2.85 | % | |||||||||||||
Securities Held to Maturity | |||||||||||||||||||||||
U.S. Treasury and government agencies | $ | 251 | $ | 251 | |||||||||||||||||||
Residential mortgage-backed | |||||||||||||||||||||||
Agency | $ | 196 | 7,362 | 7,558 | |||||||||||||||||||
Non-agency | 262 | 262 | |||||||||||||||||||||
Commercial mortgage-backed | |||||||||||||||||||||||
Agency | $ | 945 | 144 | 59 | 1,148 | ||||||||||||||||||
Non-agency | 6 | 885 | 891 | ||||||||||||||||||||
Asset-backed | 13 | 407 | 327 | 747 | |||||||||||||||||||
State and municipal | 32 | 844 | 1,138 | 2,014 | |||||||||||||||||||
Other debt | 318 | 318 | |||||||||||||||||||||
Total debt securities held to maturity | $ | 996 | $ | 1,909 | $ | 10,284 | $ | 13,189 | |||||||||||||||
Fair value | $ | 1,039 | $ | 1,984 | $ | 10,617 | $ | 13,640 | |||||||||||||||
Weighted-average yield, GAAP basis | 3.47 | % | 3.2 | % | 3.57 | % | 3.51 | % | |||||||||||||||
Based on current interest rates and expected prepayment speeds, the weighted-average expected maturity of the investment securities portfolio (excluding corporate stocks and other) was 4.1 years at March 31, 2015 and 4.3 years at December 31, 2014. The weighted-average expected maturities of mortgage and other asset-backed debt securities were as follows as of March 31, 2015: | |||||||||||||||||||||||
Table 74: Weighted-Average Expected Maturity of Mortgage and Other Asset-Backed Debt Securities | |||||||||||||||||||||||
31-Mar-15 | Years | ||||||||||||||||||||||
Agency residential mortgage-backed securities | 3.6 | ||||||||||||||||||||||
Non-agency residential mortgage-backed securities | 5.2 | ||||||||||||||||||||||
Agency commercial mortgage-backed securities | 3.4 | ||||||||||||||||||||||
Non-agency commercial mortgage-backed securities | 3.1 | ||||||||||||||||||||||
Asset-backed securities | 3.1 | ||||||||||||||||||||||
Weighted-average yields are based on historical cost with effective yields weighted for the contractual maturity of each security. At March 31, 2015, there were no securities of a single issuer, other than FNMA, that exceeded 10% of Total shareholders’ equity. | |||||||||||||||||||||||
The following table presents the fair value of securities that have been either pledged to or accepted from others to collateralize outstanding borrowings. | |||||||||||||||||||||||
Table 75: Fair Value of Securities Pledged and Accepted as Collateral | |||||||||||||||||||||||
31-Mar | 31-Dec | ||||||||||||||||||||||
In millions | 2015 | 2014 | |||||||||||||||||||||
Pledged to others | $ | 10,523 | $ | 10,874 | |||||||||||||||||||
Accepted from others: | |||||||||||||||||||||||
Permitted by contract or custom to sell or repledge | 1,787 | 1,658 | |||||||||||||||||||||
Permitted amount repledged to others | 1,620 | 1,488 | |||||||||||||||||||||
The securities pledged to others include positions held in our portfolio of investment securities, trading securities, and securities accepted as collateral from others that we are permitted by contract or custom to sell or repledge, and were used to secure public and trust deposits, repurchase agreements, and for other purposes. |
Fair_Value
Fair Value | 3 Months Ended | |||||||||||||||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||||||||||||||
Fair Value [Abstract] | ||||||||||||||||||||||||||||||||||||||
Fair Value | Note 7 Fair Value | |||||||||||||||||||||||||||||||||||||
Fair Value Measurement | ||||||||||||||||||||||||||||||||||||||
PNC measures certain financial assets and liabilities at fair value in accordance with GAAP. Fair value is defined in GAAP as the price that would be received to sell an asset or the price that would be paid to transfer a liability on the measurement date. GAAP focuses on the exit price in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. GAAP also establishes a fair value hierarchy to maximize the use of observable inputs when measuring fair value. For more information regarding the fair value hierarchy see Note 7 Fair Value in our Notes To Consolidated Financial Statements under Item 8 of our 2014 Form 10-K. | ||||||||||||||||||||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||||||||||||||||||||||||||||||||||||||
For more information on the valuation methodologies used to measure assets and liabilities at fair value on a recurring basis, see Note 7 Fair Value in our Notes To Consolidated Financial Statements under Item 8 of our 2014 Form 10-K. The following table summarizes our assets and liabilities measured at fair value on a recurring basis, including instruments for which PNC has elected the fair value option. | ||||||||||||||||||||||||||||||||||||||
Table 76: Fair Value Measurements - Recurring Basis Summary | ||||||||||||||||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||||||||||||||||||
Total | Total | |||||||||||||||||||||||||||||||||||||
In millions | Level 1 | Level 2 | Level 3 | Fair Value | Level 1 | Level 2 | Level 3 | Fair Value | ||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||
Securities available for sale | ||||||||||||||||||||||||||||||||||||||
U.S. Treasury and government agencies | $ | 4,867 | $ | 629 | $ | 5,496 | $ | 4,795 | $ | 627 | $ | 5,422 | ||||||||||||||||||||||||||
Residential mortgage-backed | ||||||||||||||||||||||||||||||||||||||
Agency | 21,268 | 21,268 | 18,043 | 18,043 | ||||||||||||||||||||||||||||||||||
Non-agency | 140 | $ | 4,624 | 4,764 | 144 | $ | 4,798 | 4,942 | ||||||||||||||||||||||||||||||
Commercial mortgage-backed | ||||||||||||||||||||||||||||||||||||||
Agency | 2,143 | 2,143 | 2,187 | 2,187 | ||||||||||||||||||||||||||||||||||
Non-agency | 4,378 | 4,378 | 4,162 | 4,162 | ||||||||||||||||||||||||||||||||||
Asset-backed | 4,667 | 548 | 5,215 | 4,624 | 563 | 5,187 | ||||||||||||||||||||||||||||||||
State and municipal | 1,953 | 133 | 2,086 | 1,904 | 134 | 2,038 | ||||||||||||||||||||||||||||||||
Other debt | 1,833 | 33 | 1,866 | 1,783 | 30 | 1,813 | ||||||||||||||||||||||||||||||||
Total debt securities | 4,867 | 37,011 | 5,338 | 47,216 | 4,795 | 33,474 | 5,525 | 43,794 | ||||||||||||||||||||||||||||||
Corporate stocks and other | 347 | 16 | 363 | 426 | 15 | 441 | ||||||||||||||||||||||||||||||||
Total securities available for sale | 5,214 | 37,027 | 5,338 | 47,579 | 5,221 | 33,489 | 5,525 | 44,235 | ||||||||||||||||||||||||||||||
Financial derivatives (a) (b) | ||||||||||||||||||||||||||||||||||||||
Interest rate contracts | 5 | 5,662 | 51 | 5,718 | 4 | 4,874 | 40 | 4,918 | ||||||||||||||||||||||||||||||
Other contracts | 532 | 3 | 535 | 314 | 2 | 316 | ||||||||||||||||||||||||||||||||
Total financial derivatives | 5 | 6,194 | 54 | 6,253 | 4 | 5,188 | 42 | 5,234 | ||||||||||||||||||||||||||||||
Residential mortgage loans held for sale (c) | 1,225 | 7 | 1,232 | 1,255 | 6 | 1,261 | ||||||||||||||||||||||||||||||||
Trading securities (d) | ||||||||||||||||||||||||||||||||||||||
Debt (e) | 1,046 | 1,081 | 3 | 2,130 | 1,340 | 960 | 32 | 2,332 | ||||||||||||||||||||||||||||||
Equity | 21 | 21 | 21 | 21 | ||||||||||||||||||||||||||||||||||
Total trading securities | 1,067 | 1,081 | 3 | 2,151 | 1,361 | 960 | 32 | 2,353 | ||||||||||||||||||||||||||||||
Trading loans (a) | 32 | 2 | 34 | 30 | 7 | 37 | ||||||||||||||||||||||||||||||||
Residential mortgage servicing rights (f) | 839 | 839 | 845 | 845 | ||||||||||||||||||||||||||||||||||
Commercial mortgage servicing rights (f) | 494 | 494 | 506 | 506 | ||||||||||||||||||||||||||||||||||
Commercial mortgage loans held for sale (c) | 975 | 975 | 893 | 893 | ||||||||||||||||||||||||||||||||||
Equity investments (a) | ||||||||||||||||||||||||||||||||||||||
Direct investments | 1,149 | 1,149 | 1,152 | 1,152 | ||||||||||||||||||||||||||||||||||
Indirect investments (g) | 442 | 442 | 469 | 469 | ||||||||||||||||||||||||||||||||||
Total equity investments | 1,591 | 1,591 | 1,621 | 1,621 | ||||||||||||||||||||||||||||||||||
Customer resale agreements (h) | 151 | 151 | 155 | 155 | ||||||||||||||||||||||||||||||||||
Loans (i) | 618 | 383 | 1,001 | 637 | 397 | 1,034 | ||||||||||||||||||||||||||||||||
Other assets (a) | ||||||||||||||||||||||||||||||||||||||
BlackRock Series C Preferred Stock (j) | 384 | 384 | 375 | 375 | ||||||||||||||||||||||||||||||||||
Other | 242 | 180 | 8 | 430 | 190 | 226 | 8 | 424 | ||||||||||||||||||||||||||||||
Total other assets | 242 | 180 | 392 | 814 | 190 | 226 | 383 | 799 | ||||||||||||||||||||||||||||||
Total assets | $ | 6,528 | $ | 46,508 | $ | 10,078 | $ | 63,114 | $ | 6,776 | $ | 41,940 | $ | 10,257 | $ | 58,973 | ||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||
Financial derivatives (b) (k) | ||||||||||||||||||||||||||||||||||||||
Interest rate contracts | $ | 3 | $ | 3,823 | $ | 16 | $ | 3,842 | $ | 3,260 | $ | 12 | $ | 3,272 | ||||||||||||||||||||||||
BlackRock LTIP | 384 | 384 | 375 | 375 | ||||||||||||||||||||||||||||||||||
Other contracts | 389 | 129 | 518 | 241 | 139 | 380 | ||||||||||||||||||||||||||||||||
Total financial derivatives | 3 | 4,212 | 529 | 4,744 | 3,501 | 526 | 4,027 | |||||||||||||||||||||||||||||||
Trading securities sold short (l) | ||||||||||||||||||||||||||||||||||||||
Debt | 1,667 | 15 | 1,682 | $ | 1,479 | 11 | 1,490 | |||||||||||||||||||||||||||||||
Total trading securities sold short | 1,667 | 15 | 1,682 | 1,479 | 11 | 1,490 | ||||||||||||||||||||||||||||||||
Other borrowed funds (l) | 67 | 171 | 238 | 92 | 181 | 273 | ||||||||||||||||||||||||||||||||
Other liabilities (k) | 4 | 10 | 14 | 9 | 9 | |||||||||||||||||||||||||||||||||
Total liabilities | $ | 1,670 | $ | 4,298 | $ | 710 | $ | 6,678 | $ | 1,479 | $ | 3,604 | $ | 716 | $ | 5,799 | ||||||||||||||||||||||
(a) | Included in Other assets on our Consolidated Balance Sheet. | |||||||||||||||||||||||||||||||||||||
(b) | Amounts at March 31, 2015 and December 31, 2014 are presented gross and are not reduced by the impact of legally enforceable master netting agreements that allow PNC to net positive and negative positions and cash collateral held or placed with the same counterparty. The net asset amounts were $3.4 billion at March 31, 2015 and $2.6 billion at December 31, 2014, and the net liability amounts were $1.9 billion and $1.4 billion, respectively. | |||||||||||||||||||||||||||||||||||||
(c) | Included in Loans held for sale on our Consolidated Balance Sheet. PNC has elected the fair value option for certain residential and commercial mortgage loans held for sale. | |||||||||||||||||||||||||||||||||||||
(d) | Fair value includes net unrealized gains of $50 million at March 31, 2015 compared with net unrealized gains of $54 million at December 31, 2014. | |||||||||||||||||||||||||||||||||||||
(e) | Approximately 33% of these securities are residential mortgage-backed securities and 49% are U.S. Treasury and government agencies securities at March 31, 2015. Comparable amounts at December 31, 2014 were 34% and 57%, respectively. | |||||||||||||||||||||||||||||||||||||
(f) | Included in Other intangible assets on our Consolidated Balance Sheet. | |||||||||||||||||||||||||||||||||||||
(g) | The indirect equity funds are not redeemable, but PNC receives distributions over the life of the partnership from liquidation of the underlying investments by the investee, which we expect to occur over the next twelve years. The amount of unfunded contractual commitments as of March 31, 2015 related to indirect equity investments was $121 million and related to direct equity investments was $26 million, respectively. Comparable amounts at December 31, 2014 were $112 million and $28 million, respectively. | |||||||||||||||||||||||||||||||||||||
(h) | Included in Federal funds sold and resale agreements on our Consolidated Balance Sheet. PNC has elected the fair value option for these items. | |||||||||||||||||||||||||||||||||||||
(i) | Included in Loans on our Consolidated Balance Sheet. | |||||||||||||||||||||||||||||||||||||
(j) | PNC has elected the fair value option for these shares. | |||||||||||||||||||||||||||||||||||||
(k) | Included in Other liabilities on our Consolidated Balance Sheet. | |||||||||||||||||||||||||||||||||||||
(l) | Included in Other borrowed funds on our Consolidated Balance Sheet. | |||||||||||||||||||||||||||||||||||||
Reconciliations of assets and liabilities measured at fair value on a recurring basis using Level 3 inputs for 2015 and 2014 follow. | ||||||||||||||||||||||||||||||||||||||
Table 77: Reconciliation of Level 3 Assets and Liabilities | ||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | ||||||||||||||||||||||||||||||||||||||
Unrealized | ||||||||||||||||||||||||||||||||||||||
Total realized / unrealized | gains (losses) | |||||||||||||||||||||||||||||||||||||
gains or losses for the period (a) | on assets and | |||||||||||||||||||||||||||||||||||||
Included | liabilities held on | |||||||||||||||||||||||||||||||||||||
Level 3 Instruments | Fair Value | in Other | Transfers | Transfers | Fair Value | Consolidated | ||||||||||||||||||||||||||||||||
Only | Dec. 31, | Included in | comprehensive | into | out of | Mar. 31, | Balance Sheet | |||||||||||||||||||||||||||||||
In millions | 2014 | Earnings | income | Purchases | Sales | Issuances | Settlements | Level 3 (b) | Level 3 (b) | 2015 | at Mar. 31, 2015 (c) | |||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||
Securities available for | ||||||||||||||||||||||||||||||||||||||
sale | ||||||||||||||||||||||||||||||||||||||
Residential mortgage- | ||||||||||||||||||||||||||||||||||||||
backed non-agency | $ | 4,798 | $ | 25 | $ | -14 | $ | -185 | $ | 4,624 | $ | -1 | ||||||||||||||||||||||||||
Commercial mortgage | ||||||||||||||||||||||||||||||||||||||
backed non-agency | 7 | -7 | ||||||||||||||||||||||||||||||||||||
Asset-backed | 563 | 6 | 4 | -25 | 548 | |||||||||||||||||||||||||||||||||
State and municipal | 134 | -1 | 133 | |||||||||||||||||||||||||||||||||||
Other debt | 30 | 1 | $ | 3 | -1 | 33 | ||||||||||||||||||||||||||||||||
Total securities | ||||||||||||||||||||||||||||||||||||||
available for sale | 5,525 | 39 | -11 | 3 | -218 | 5,338 | -1 | |||||||||||||||||||||||||||||||
Financial derivatives | 42 | 71 | 1 | -60 | 54 | 59 | ||||||||||||||||||||||||||||||||
Residential mortgage | ||||||||||||||||||||||||||||||||||||||
loans held for sale | 6 | 6 | $ | 1 | $ | -6 | 7 | |||||||||||||||||||||||||||||||
Trading securities - Debt | 32 | -29 | 3 | |||||||||||||||||||||||||||||||||||
Trading loans | 7 | $ | -5 | 2 | ||||||||||||||||||||||||||||||||||
Residential mortgage | ||||||||||||||||||||||||||||||||||||||
servicing rights | 845 | -67 | 83 | $ | 17 | -39 | 839 | -65 | ||||||||||||||||||||||||||||||
Commercial mortgage | ||||||||||||||||||||||||||||||||||||||
servicing rights | 506 | -16 | 11 | 14 | -21 | 494 | -16 | |||||||||||||||||||||||||||||||
Commercial mortgage | ||||||||||||||||||||||||||||||||||||||
loans held for sale | 893 | 21 | 1,083 | -1,022 | 975 | 15 | ||||||||||||||||||||||||||||||||
Equity investments | ||||||||||||||||||||||||||||||||||||||
Direct investments | 1,152 | 29 | 43 | -75 | 1,149 | 18 | ||||||||||||||||||||||||||||||||
Indirect investments | 469 | 14 | 3 | -44 | 442 | 13 | ||||||||||||||||||||||||||||||||
Total equity | ||||||||||||||||||||||||||||||||||||||
investments | 1,621 | 43 | 46 | -119 | 1,591 | 31 | ||||||||||||||||||||||||||||||||
Loans | 397 | 10 | 32 | -4 | -37 | 5 | -20 | 383 | 8 | |||||||||||||||||||||||||||||
Other assets | ||||||||||||||||||||||||||||||||||||||
BlackRock Series C | ||||||||||||||||||||||||||||||||||||||
Preferred Stock | 375 | 9 | 384 | 9 | ||||||||||||||||||||||||||||||||||
Other | 8 | 8 | ||||||||||||||||||||||||||||||||||||
Total other assets | 383 | 9 | 392 | 9 | ||||||||||||||||||||||||||||||||||
Total assets | $ | 10,257 | $ | 110 | (e) | $ | -11 | $ | 182 | $ | -128 | $ | 1,114 | $ | -1,426 | $ | 6 | $ | -26 | $ | 10,078 | $ | 40 | (f) | ||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||
Financial derivatives (d) | $ | 526 | $ | 41 | $ | -38 | $ | 529 | $ | -6 | ||||||||||||||||||||||||||||
Other borrowed funds | 181 | $ | 25 | -35 | 171 | |||||||||||||||||||||||||||||||||
Other liabilities | 9 | 1 | 10 | |||||||||||||||||||||||||||||||||||
Total liabilities | $ | 716 | $ | 42 | (e) | $ | 25 | $ | -73 | $ | 710 | $ | -6 | (f) | ||||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||||||||||||||||
Unrealized | ||||||||||||||||||||||||||||||||||||||
Total realized / unrealized | gains (losses) | |||||||||||||||||||||||||||||||||||||
gains or losses for the period (a) | on assets and | |||||||||||||||||||||||||||||||||||||
Included | liabilities held | |||||||||||||||||||||||||||||||||||||
Level 3 Instruments | Fair Value | in Other | Transfers | Transfers | Fair Value | on Consolidated | ||||||||||||||||||||||||||||||||
Only | Dec. 31, | Included in | comprehensive | into | out of | Mar. 31, | Balance Sheet | |||||||||||||||||||||||||||||||
In millions | 2013 | Earnings | income | Purchases | Sales | Issuances | Settlements | Level 3 (b) | Level 3 (b) | 2014 | at Mar. 31, 2014 (c) | |||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||
Securities available for | ||||||||||||||||||||||||||||||||||||||
sale | ||||||||||||||||||||||||||||||||||||||
Residential mortgage- | ||||||||||||||||||||||||||||||||||||||
backed non-agency | $ | 5,358 | $ | 34 | $ | 54 | $ | -212 | $ | 5,234 | $ | -2 | ||||||||||||||||||||||||||
Asset-backed | 641 | 4 | 19 | -22 | 642 | |||||||||||||||||||||||||||||||||
State and municipal | 333 | -2 | 1 | -1 | 331 | |||||||||||||||||||||||||||||||||
Other debt | 38 | 1 | $ | -6 | -1 | 32 | ||||||||||||||||||||||||||||||||
Total securities | ||||||||||||||||||||||||||||||||||||||
available for sale | 6,370 | 37 | 74 | -6 | -236 | 6,239 | -2 | |||||||||||||||||||||||||||||||
Financial derivatives | 36 | 60 | -66 | 30 | 52 | |||||||||||||||||||||||||||||||||
Residential mortgage | ||||||||||||||||||||||||||||||||||||||
loans held for sale | 8 | $ | 5 | -2 | $ | 3 | $ | -9 | 5 | |||||||||||||||||||||||||||||
Trading securities - Debt | 32 | 32 | ||||||||||||||||||||||||||||||||||||
Residential mortgage | ||||||||||||||||||||||||||||||||||||||
servicing rights | 1,087 | -59 | 17 | $ | 23 | -29 | 1,039 | -58 | ||||||||||||||||||||||||||||||
Commercial mortgage | ||||||||||||||||||||||||||||||||||||||
servicing rights | -14 | 7 | 7 | 529 | (g) | 529 | -14 | |||||||||||||||||||||||||||||||
Commercial mortgage | ||||||||||||||||||||||||||||||||||||||
loans held for sale | 586 | 2 | -11 | 577 | 2 | |||||||||||||||||||||||||||||||||
Equity investments | ||||||||||||||||||||||||||||||||||||||
Direct investments | 1,069 | 34 | 69 | -9 | 1,163 | 33 | ||||||||||||||||||||||||||||||||
Indirect investments | 595 | 18 | 6 | -26 | 1 | 594 | 17 | |||||||||||||||||||||||||||||||
Total equity | ||||||||||||||||||||||||||||||||||||||
investments | 1,664 | 52 | 75 | -35 | 1 | 1,757 | 50 | |||||||||||||||||||||||||||||||
Loans (h) | 527 | 9 | -1 | -6 | -21 | 39 | -29 | 518 | 6 | |||||||||||||||||||||||||||||
Other assets | ||||||||||||||||||||||||||||||||||||||
BlackRock Series C | ||||||||||||||||||||||||||||||||||||||
Preferred Stock | 332 | -2 | 330 | -2 | ||||||||||||||||||||||||||||||||||
Other | 8 | 8 | ||||||||||||||||||||||||||||||||||||
Total other assets | 340 | -2 | 338 | -2 | ||||||||||||||||||||||||||||||||||
Total assets | $ | 10,650 | $ | 85 | (e) | $ | 74 | $ | 103 | $ | -49 | $ | 30 | $ | 167 | $ | 42 | $ | -38 | $ | 11,064 | $ | 34 | (f) | ||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||
Financial derivatives (d) | $ | 439 | $ | 40 | $ | 1 | $ | -40 | $ | 440 | $ | -4 | ||||||||||||||||||||||||||
Other borrowed funds (h) | 199 | 4 | $ | 9 | -19 | 193 | ||||||||||||||||||||||||||||||||
Total liabilities | $ | 638 | $ | 44 | (e) | $ | 1 | $ | 9 | $ | -59 | $ | 633 | $ | -4 | (f) | ||||||||||||||||||||||
(a) | Losses for assets are bracketed while losses for liabilities are not. | |||||||||||||||||||||||||||||||||||||
(b) | PNC's policy is to recognize transfers in and transfers out as of the end of the reporting period. | |||||||||||||||||||||||||||||||||||||
(c) | The amount of the total gains or losses for the period included in earnings that is attributable to the change in unrealized gains or losses related to those assets and liabilities held at the end of the reporting period. | |||||||||||||||||||||||||||||||||||||
(d) | Includes swaps entered into in connection with sales of certain Visa Class B common shares. | |||||||||||||||||||||||||||||||||||||
(e) | Net gains (realized and unrealized) included in earnings relating to Level 3 assets and liabilities were $68 million for the first three months of 2015 compared with net gains (realized and unrealized) of $41 million for the first three months of 2014. These amounts also included amortization and accretion of $40 million for the first three months of 2015 compared with $41 million for the first three months of 2014. The amortization and accretion amounts were included in Interest income on the Consolidated Income Statement and the remaining net gains/(losses) (realized and unrealized) were included in Noninterest income on the Consolidated Income Statement. | |||||||||||||||||||||||||||||||||||||
(f) | Net unrealized gains relating to those assets and liabilities held at the end of the reporting period were $46 million for the first three months of 2015, compared with net unrealized gains of $38 million for the first three months of 2014. These amounts were included in Noninterest income on the Consolidated Income Statement. | |||||||||||||||||||||||||||||||||||||
(g) | Settlements relating to commercial MSRs include $552 million, which represents the fair value as of January 1, 2014 as a result of an irrevocable election to measure all classes of commercial MSRs at fair value. Refer to Note 8 Goodwill and Other Intangible Assets in our Notes To Consolidated Financial Statements under Item 8 of our 2014 Form 10-K for additional information on this election. | |||||||||||||||||||||||||||||||||||||
(h) | These line items were corrected for the three months ended March 31, 2014 to include transferred loans over which PNC regained effective control and the related liabilities that are recorded pursuant to ASC 860. | |||||||||||||||||||||||||||||||||||||
An instrument’s categorization within the hierarchy is based on the lowest level of input that is significant to the fair value measurement. Changes from one quarter to the next related to the observability of inputs to a fair value measurement may result in a reclassification (transfer) of assets or liabilities between hierarchy levels. PNC’s policy is to recognize transfers in and transfers out as of the end of the reporting period. There were no significant transfers between Level 2 and Level 3 during the first three months of 2015 and 2014. | ||||||||||||||||||||||||||||||||||||||
Quantitative information about the significant unobservable inputs within Level 3 recurring assets and liabilities follows. | ||||||||||||||||||||||||||||||||||||||
Table 78: Fair Value Measurements - Recurring Quantitative Information | ||||||||||||||||||||||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||||||||||||||||||||
Level 3 Instruments Only | ||||||||||||||||||||||||||||||||||||||
Dollars in millions | Fair Value | Valuation Techniques | Unobservable Inputs | Range (Weighted Average) | ||||||||||||||||||||||||||||||||||
Residential mortgage-backed | ||||||||||||||||||||||||||||||||||||||
non-agency securities | $ | 4,624 | Priced by a third-party vendor | Constant prepayment rate (CPR) | 1.0%-24.2% (6.9%) | (a) | ||||||||||||||||||||||||||||||||
using a discounted cash flow | Constant default rate (CDR) | 0%-16.7% (5.4%) | (a) | |||||||||||||||||||||||||||||||||||
pricing model (a) | Loss severity | 1.0%-100.0% (53.2%) | (a) | |||||||||||||||||||||||||||||||||||
Spread over the benchmark curve (b) | 260bps weighted average | (a) | ||||||||||||||||||||||||||||||||||||
Asset-backed securities | 548 | Priced by a third-party vendor | Constant prepayment rate (CPR) | 1.0%-15.7% (6.2%) | (a) | |||||||||||||||||||||||||||||||||
using a discounted cash flow | Constant default rate (CDR) | 1.7%-13.9% (7.2%) | (a) | |||||||||||||||||||||||||||||||||||
pricing model (a) | Loss severity | 14.6%-100% (75.5%) | (a) | |||||||||||||||||||||||||||||||||||
Spread over the benchmark curve (b) | 339bps weighted average | (a) | ||||||||||||||||||||||||||||||||||||
State and municipal securities | 131 | Discounted cash flow | Spread over the benchmark curve (b) | 50bps-215bps (67bps) | ||||||||||||||||||||||||||||||||||
2 | Consensus pricing (c) | Credit and Liquidity discount | 0%-30.0% (18.0%) | |||||||||||||||||||||||||||||||||||
Other debt securities | 33 | Consensus pricing (c) | Credit and Liquidity discount | 7.0%-100.0% (88.6%) | ||||||||||||||||||||||||||||||||||
Residential mortgage servicing rights | 839 | Discounted cash flow | Constant prepayment rate (CPR) | 0.3%-38.8% (12.4%) | ||||||||||||||||||||||||||||||||||
Spread over the benchmark curve (b) | 708bps-1,880bps (985bps) | |||||||||||||||||||||||||||||||||||||
Commercial mortgage servicing | 494 | Discounted cash flow | Constant prepayment rate (CPR) | 6.4%-20.0% (7.5%) | ||||||||||||||||||||||||||||||||||
rights | Discount rate | 1.1%-8.8% (6.5%) | ||||||||||||||||||||||||||||||||||||
Commercial mortgage loans held | 975 | Discounted cash flow | Spread over the benchmark curve (b) | 29bps-4,720bps (498bps) | ||||||||||||||||||||||||||||||||||
for sale | Estimated servicing cash flows | 0.0%-2.0% (1.6%) | ||||||||||||||||||||||||||||||||||||
Equity investments - Direct investments | 1,149 | Multiple of adjusted earnings | Multiple of earnings | 3.3x-13.9x (7.6x) | ||||||||||||||||||||||||||||||||||
Equity investments - Indirect (d) | 442 | Net asset value | Net asset value | |||||||||||||||||||||||||||||||||||
Loans - Residential real estate | 121 | Consensus pricing (c) | Cumulative default rate | 2.0%-100% (86.7%) | ||||||||||||||||||||||||||||||||||
Loss severity | 0%-100% (30.9%) | |||||||||||||||||||||||||||||||||||||
Discount rate | 4.9%-6.9% (5.0%) | |||||||||||||||||||||||||||||||||||||
138 | Discounted cash flow | Loss severity | 8.0% weighted average | |||||||||||||||||||||||||||||||||||
Discount rate | 3.5% weighted average | |||||||||||||||||||||||||||||||||||||
Loans - Home equity | 124 | Consensus pricing (c) | Credit and Liquidity discount | 26.0%-99.0% (52.0%) | ||||||||||||||||||||||||||||||||||
BlackRock Series C Preferred Stock | 384 | Consensus pricing (c) | Liquidity discount | 20.00% | ||||||||||||||||||||||||||||||||||
BlackRock LTIP | -384 | Consensus pricing (c) | Liquidity discount | 20.00% | ||||||||||||||||||||||||||||||||||
Swaps related to sales of certain Visa | -124 | Discounted cash flow | Estimated conversion factor of | |||||||||||||||||||||||||||||||||||
Class B common shares | Class B shares into Class A shares | 164.30% | (e) | |||||||||||||||||||||||||||||||||||
Estimated growth rate of Visa | ||||||||||||||||||||||||||||||||||||||
Class A share price | 16.10% | |||||||||||||||||||||||||||||||||||||
Other borrowed funds - non-agency | ||||||||||||||||||||||||||||||||||||||
securitization | -160 | Consensus pricing (c) | Credit and Liquidity discount | 0%-99.0% (19.0%) | ||||||||||||||||||||||||||||||||||
Spread over the benchmark curve (b) | 106bps | |||||||||||||||||||||||||||||||||||||
Insignificant Level 3 assets, net of | ||||||||||||||||||||||||||||||||||||||
liabilities (f) | 32 | |||||||||||||||||||||||||||||||||||||
Total Level 3 assets, net of liabilities (g) | $ | 9,368 | ||||||||||||||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||||||||||||
Level 3 Instruments Only | ||||||||||||||||||||||||||||||||||||||
Dollars in millions | Fair Value | Valuation Techniques | Unobservable Inputs | Range (Weighted Average) | ||||||||||||||||||||||||||||||||||
Residential mortgage-backed | ||||||||||||||||||||||||||||||||||||||
non-agency securities | $ | 4,798 | Priced by a third-party vendor | Constant prepayment rate (CPR) | 1.0%-28.9% (6.8%) | (a) | ||||||||||||||||||||||||||||||||
using a discounted cash flow | Constant default rate (CDR) | 0.0%-16.7% (5.6%) | (a) | |||||||||||||||||||||||||||||||||||
pricing model (a) | Loss severity | 6.1%-100.0% (53.1%) | (a) | |||||||||||||||||||||||||||||||||||
Spread over the benchmark curve (b) | 249bps weighted average | (a) | ||||||||||||||||||||||||||||||||||||
Asset-backed securities | 563 | Priced by a third-party vendor | Constant prepayment rate (CPR) | 1.0%-15.7% (5.9%) | (a) | |||||||||||||||||||||||||||||||||
using a discounted cash flow | Constant default rate (CDR) | 1.7%-13.9% (7.6%) | (a) | |||||||||||||||||||||||||||||||||||
pricing model (a) | Loss severity | 14.6%-100.0% (73.5%) | (a) | |||||||||||||||||||||||||||||||||||
Spread over the benchmark curve (b) | 352bps weighted average | (a) | ||||||||||||||||||||||||||||||||||||
State and municipal securities | 132 | Discounted cash flow | Spread over the benchmark curve (b) | 55bps-165bps (67bps) | ||||||||||||||||||||||||||||||||||
2 | Consensus pricing (c) | Credit and Liquidity discount | 0.0%-20.0% (14.9%) | |||||||||||||||||||||||||||||||||||
Other debt securities | 30 | Consensus pricing (c) | Credit and Liquidity discount | 7.0%-95.0% (88.6%) | ||||||||||||||||||||||||||||||||||
Trading securities - Debt | 32 | Consensus pricing (c) | Credit and Liquidity discount | 0.0%-15.0% (8.0%) | ||||||||||||||||||||||||||||||||||
Residential mortgage servicing rights | 845 | Discounted cash flow | Constant prepayment rate (CPR) | 3.8%-32.7% (11.2%) | ||||||||||||||||||||||||||||||||||
Spread over the benchmark curve (b) | 889bps-1,888bps (1,036bps) | |||||||||||||||||||||||||||||||||||||
Commercial mortgage servicing rights | 506 | Discounted cash flow | Constant prepayment rate (CPR) | 7.0%-16.8% (8.0%) | ||||||||||||||||||||||||||||||||||
Discount rate | 2.5%-8.6% (6.6%) | |||||||||||||||||||||||||||||||||||||
Commercial mortgage loans held | ||||||||||||||||||||||||||||||||||||||
for sale | 893 | Discounted cash flow | Spread over the benchmark curve (b) | 37bps-4,025bps (549bps) | ||||||||||||||||||||||||||||||||||
Estimated servicing cash flows | 0.0%-2.0% (1.2%) | |||||||||||||||||||||||||||||||||||||
Equity investments - Direct investments | 1,152 | Multiple of adjusted earnings | Multiple of earnings | 3.2x-13.9x (7.7x) | ||||||||||||||||||||||||||||||||||
Equity investments - Indirect (d) | 469 | Net asset value | Net asset value | |||||||||||||||||||||||||||||||||||
Loans - Residential real estate | 114 | Consensus pricing (c) | Cumulative default rate | 2.0%-100.0% (90.5%) | ||||||||||||||||||||||||||||||||||
Loss severity | 0.0%-100.0% (35.6%) | |||||||||||||||||||||||||||||||||||||
Discount rate | 5.4%-7.0% (6.4%) | |||||||||||||||||||||||||||||||||||||
154 | Discounted cash flow | Loss severity | 8.0% weighted average | |||||||||||||||||||||||||||||||||||
Discount rate | 3.4% weighted average | |||||||||||||||||||||||||||||||||||||
Loans - Home equity | 129 | Consensus pricing (c) | Credit and Liquidity discount | 26.0%-99.0% (51.0%) | ||||||||||||||||||||||||||||||||||
BlackRock Series C Preferred Stock | 375 | Consensus pricing (c) | Liquidity discount | 20.00% | ||||||||||||||||||||||||||||||||||
BlackRock LTIP | -375 | Consensus pricing (c) | Liquidity discount | 20.00% | ||||||||||||||||||||||||||||||||||
Swaps related to sales of certain | -135 | Discounted cash flow | Estimated conversion factor of | |||||||||||||||||||||||||||||||||||
Visa Class B common shares | Class B shares into Class A shares | 41.10% | ||||||||||||||||||||||||||||||||||||
Estimated growth rate of Visa Class | ||||||||||||||||||||||||||||||||||||||
A share price | 14.80% | |||||||||||||||||||||||||||||||||||||
Other borrowed funds - non-agency | ||||||||||||||||||||||||||||||||||||||
securitization | -166 | Consensus pricing (c) | Credit and Liquidity discount | 0.0%-99.0% (18.0%) | ||||||||||||||||||||||||||||||||||
Spread over the benchmark curve (b) | 113bps | |||||||||||||||||||||||||||||||||||||
Insignificant Level 3 assets, net of | ||||||||||||||||||||||||||||||||||||||
liabilities (f) | 23 | |||||||||||||||||||||||||||||||||||||
Total Level 3 assets, net of liabilities (g) | $ | 9,541 | ||||||||||||||||||||||||||||||||||||
(a) | Level 3 residential mortgage-backed non-agency and asset-backed securities with fair values as of March 31, 2015 totaling $3,881 million and $516 million, respectively, were priced by a third-party vendor using a discounted cash flow pricing model that incorporates consensus pricing, where available. The comparable amounts as of December 31, 2014 were $4,081 million and $532 million, respectively. The significant unobservable inputs for these securities were provided by the third-party vendor and are disclosed in the table. Our procedures to validate the prices provided by the third-party vendor related to these securities are discussed further in the Fair Value Measurement section of Note 7 Fair Value in our Notes to Consolidated Financial Statements under Item 8 of our 2014 Form 10-K. Certain Level 3 residential mortgage-backed non-agency and asset-backed securities with fair values as of March 31, 2015 of $743 million and $32 million, respectively, were valued using a pricing source, such as a dealer quote or comparable security price, for which the significant unobservable inputs used to determine the price were not reasonably available. The comparable amounts as of December 31, 2014 were $717 million and $31 million, respectively. | |||||||||||||||||||||||||||||||||||||
(b) | The assumed yield spread over the benchmark curve for each instrument is generally intended to incorporate non-interest-rate risks, such as credit and liquidity risks. | |||||||||||||||||||||||||||||||||||||
(c) | Consensus pricing refers to fair value estimates that are generally internally developed using information such as dealer quotes or other third-party provided valuations or comparable asset prices. | |||||||||||||||||||||||||||||||||||||
(d) | The range on these indirect equity investments has not been disclosed since these investments are recorded at their net asset redemption values. | |||||||||||||||||||||||||||||||||||||
(e) | This conversion factor reflects the 4-for-1 split of Visa Class A common shares, which occurred during the first quarter of 2015. | |||||||||||||||||||||||||||||||||||||
(f) | Represents the aggregate amount of Level 3 assets and liabilities measured at fair value on a recurring basis that are individually and in the aggregate insignificant. The amount includes certain financial derivative assets and liabilities, trading securities, residential mortgage loans held for sale, trading loans, other assets, other borrowed funds (ROAPs) and other liabilities. For additional information, please see the Fair Value Measurement discussion included in Note 7 Fair Value in our Notes To Consolidated Financial Statements under Item 8 of our 2014 Form 10-K. | |||||||||||||||||||||||||||||||||||||
(g) | Consisted of total Level 3 assets of $10,078 million and total Level 3 liabilities of $710 million as of March 31, 2015 and $10,257 million and $716 million as of December 31, 2014, respectively. | |||||||||||||||||||||||||||||||||||||
Financial Assets Accounted for at Fair Value on a Nonrecurring Basis | ||||||||||||||||||||||||||||||||||||||
We may be required to measure certain financial assets at fair value on a nonrecurring basis. These adjustments to fair value usually result from the application of lower of amortized cost or fair value accounting or write-downs of individual assets due to impairment and are included in Table 79 and Table 80. For more information regarding the valuation methodologies of our financial assets measured at fair value on a nonrecurring basis, see Note 7 Fair Value in our Notes To Consolidated Financial Statements under Item 8 of our 2014 Form 10-K. | ||||||||||||||||||||||||||||||||||||||
Table 79: Fair Value Measurements - Nonrecurring | ||||||||||||||||||||||||||||||||||||||
Gains (Losses) | ||||||||||||||||||||||||||||||||||||||
Fair Value (a) | Three months ended | |||||||||||||||||||||||||||||||||||||
31-Mar | 31-Dec | 31-Mar | 31-Mar | |||||||||||||||||||||||||||||||||||
In millions | 2015 | 2014 | 2015 | 2014 | ||||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||
Nonaccrual loans | $ | 53 | $ | 54 | $ | 3 | $ | -8 | ||||||||||||||||||||||||||||||
Loans held for sale | 8 | -2 | ||||||||||||||||||||||||||||||||||||
Equity investments | 22 | 17 | -1 | |||||||||||||||||||||||||||||||||||
OREO and foreclosed assets | 81 | 168 | -10 | -12 | ||||||||||||||||||||||||||||||||||
Long-lived assets held for sale | 13 | 22 | -8 | -4 | ||||||||||||||||||||||||||||||||||
Total assets | $ | 169 | $ | 269 | $ | -16 | $ | -26 | ||||||||||||||||||||||||||||||
(a) | All Level 3 as of March 31, 2015 and December 31, 2014 except for $8 million included in Loans held for sale which was categorized as Level 2 as of December 31, 2014. | |||||||||||||||||||||||||||||||||||||
Quantitative information about the significant unobservable inputs within Level 3 nonrecurring assets follows. | ||||||||||||||||||||||||||||||||||||||
Table 80: Fair Value Measurements - Nonrecurring Quantitative Information | ||||||||||||||||||||||||||||||||||||||
Level 3 Instruments Only | ||||||||||||||||||||||||||||||||||||||
Dollars in millions | Fair Value | Valuation Techniques | Unobservable Inputs | Range (Weighted Average) | ||||||||||||||||||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||
Nonaccrual loans (a) | $ | 40 | LGD percentage (b) | Loss severity | 3.9%-70.4% (32.6%) | |||||||||||||||||||||||||||||||||
Equity investments | 22 | Discounted cash flow | Market rate of return | 6.00% | ||||||||||||||||||||||||||||||||||
Other (c) | 107 | Fair value of property or collateral | Appraised value/sales price | Not meaningful | ||||||||||||||||||||||||||||||||||
Total assets | $ | 169 | ||||||||||||||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||
Nonaccrual loans (a) | $ | 29 | LGD percentage (b) | Loss severity | 2.9%-68.5% (42.1%) | |||||||||||||||||||||||||||||||||
Equity investments | 17 | Discounted cash flow | Market rate of return | 6.00% | ||||||||||||||||||||||||||||||||||
Other (c) | 215 | Fair value of property or collateral | Appraised value/sales price | Not meaningful | ||||||||||||||||||||||||||||||||||
Total assets | $ | 261 | ||||||||||||||||||||||||||||||||||||
(a) | The fair value of nonaccrual loans included in this line item is determined based on internal loss rates. The fair value of nonaccrual loans where the fair value is determined based on the appraised value or sales price is included within Other, below. | |||||||||||||||||||||||||||||||||||||
(b) | LGD percentage represents the amount that PNC expects to lose in the event a borrower defaults on an obligation. | |||||||||||||||||||||||||||||||||||||
(c) | Other included Nonaccrual loans of $13 million, OREO and foreclosed assets of $81 million and Long-lived assets held for sale of $13 million as of March 31, 2015. Comparably, as of December 31, 2014, Other included Nonaccrual loans of $25 million, OREO and foreclosed assets of $168 million and Long-lived assets held for sale of $22 million. The fair value of these assets is determined based on appraised value or sales price, the range of which is not meaningful to disclose. | |||||||||||||||||||||||||||||||||||||
Financial Instruments Accounted For Under Fair Value Option | ||||||||||||||||||||||||||||||||||||||
We elect the fair value option to account for certain financial instruments. For more information on these financial instruments for which the fair value option election has been made, please refer to Note 7 Fair Value in our Notes To Consolidated Financial Statements under Item 8 of our 2014 Form 10-K. | ||||||||||||||||||||||||||||||||||||||
The changes in fair value included in Noninterest income for items for which we elected the fair value option follow. | ||||||||||||||||||||||||||||||||||||||
Table 81: Fair Value Option - Changes in Fair Value (a) | ||||||||||||||||||||||||||||||||||||||
Gains (Losses) | ||||||||||||||||||||||||||||||||||||||
Three months ended | ||||||||||||||||||||||||||||||||||||||
31-Mar | 31-Mar | |||||||||||||||||||||||||||||||||||||
In millions | 2015 | 2014 | ||||||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||
Customer resale agreements | $ | -1 | ||||||||||||||||||||||||||||||||||||
Trading loans | $ | 1 | ||||||||||||||||||||||||||||||||||||
Commercial mortgage loans held for sale | 25 | 2 | ||||||||||||||||||||||||||||||||||||
Residential mortgage loans held for sale (b) | 46 | 65 | ||||||||||||||||||||||||||||||||||||
Residential mortgage loans – portfolio (b) | 16 | 28 | ||||||||||||||||||||||||||||||||||||
BlackRock Series C Preferred Stock | 9 | -2 | ||||||||||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||
Other borrowed funds | -4 | |||||||||||||||||||||||||||||||||||||
(a) | The impact on earnings of offsetting hedged items or hedging instruments is not reflected in these amounts. | |||||||||||||||||||||||||||||||||||||
(b) | The prior period was corrected for the allocation between Residential mortgage loans held for sale and Residential mortgage loans - portfolio. This resulted in a decrease of $14 million from gains on Residential mortgage loans held for sale and an increase of $17 million to gains on Residential mortgage loans - portfolio for the three months ended March 31, 2014. | |||||||||||||||||||||||||||||||||||||
Fair values and aggregate unpaid principal balances of items for which we elected the fair value option follow. | ||||||||||||||||||||||||||||||||||||||
Table 82: Fair Value Option - Fair Value and Principal Balances | ||||||||||||||||||||||||||||||||||||||
Aggregate Unpaid | ||||||||||||||||||||||||||||||||||||||
In millions | Fair Value | Principal Balance | Difference | |||||||||||||||||||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||
Customer resale agreements | $ | 151 | $ | 144 | $ | 7 | ||||||||||||||||||||||||||||||||
Trading loans | 34 | 34 | ||||||||||||||||||||||||||||||||||||
Residential mortgage loans held for sale | ||||||||||||||||||||||||||||||||||||||
Performing loans | 1,204 | 1,152 | 52 | |||||||||||||||||||||||||||||||||||
Accruing loans 90 days or more past due | 8 | 8 | ||||||||||||||||||||||||||||||||||||
Nonaccrual loans | 20 | 21 | -1 | |||||||||||||||||||||||||||||||||||
Total | 1,232 | 1,181 | 51 | |||||||||||||||||||||||||||||||||||
Commercial mortgage loans held for sale (a) | ||||||||||||||||||||||||||||||||||||||
Performing loans | 956 | 983 | -27 | |||||||||||||||||||||||||||||||||||
Nonaccrual loans | 19 | 63 | -44 | |||||||||||||||||||||||||||||||||||
Total | 975 | 1,046 | -71 | |||||||||||||||||||||||||||||||||||
Residential mortgage loans - portfolio | ||||||||||||||||||||||||||||||||||||||
Performing loans | 254 | 315 | -61 | |||||||||||||||||||||||||||||||||||
Accruing loans 90 days or more past due | 485 | 488 | -3 | |||||||||||||||||||||||||||||||||||
Nonaccrual loans | 262 | 427 | -165 | |||||||||||||||||||||||||||||||||||
Total | 1,001 | 1,230 | -229 | |||||||||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||
Other borrowed funds | $ | 238 | $ | 276 | $ | -38 | ||||||||||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||
Customer resale agreements | $ | 155 | $ | 148 | $ | 7 | ||||||||||||||||||||||||||||||||
Trading loans | 37 | 37 | ||||||||||||||||||||||||||||||||||||
Residential mortgage loans held for sale | ||||||||||||||||||||||||||||||||||||||
Performing loans | 1,236 | 1,176 | 60 | |||||||||||||||||||||||||||||||||||
Accruing loans 90 days or more past due | 9 | 9 | ||||||||||||||||||||||||||||||||||||
Nonaccrual loans | 16 | 17 | -1 | |||||||||||||||||||||||||||||||||||
Total | 1,261 | 1,202 | 59 | |||||||||||||||||||||||||||||||||||
Commercial mortgage loans held for sale (a) | ||||||||||||||||||||||||||||||||||||||
Performing loans | 873 | 908 | -35 | |||||||||||||||||||||||||||||||||||
Nonaccrual loans | 20 | 64 | -44 | |||||||||||||||||||||||||||||||||||
Total | 893 | 972 | -79 | |||||||||||||||||||||||||||||||||||
Residential mortgage loans - portfolio | ||||||||||||||||||||||||||||||||||||||
Performing loans | 194 | 256 | -62 | |||||||||||||||||||||||||||||||||||
Accruing loans 90 days or more past due | 570 | 573 | -3 | |||||||||||||||||||||||||||||||||||
Nonaccrual loans | 270 | 449 | -179 | |||||||||||||||||||||||||||||||||||
Total | 1,034 | 1,278 | -244 | |||||||||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||
Other borrowed funds | $ | 273 | $ | 312 | $ | -39 | ||||||||||||||||||||||||||||||||
(a) | There were no accruing loans 90 days or more past due within this category at March 31, 2015 or December 31, 2014. | |||||||||||||||||||||||||||||||||||||
Additional Fair Value Information Related to Other Financial Instruments | ||||||||||||||||||||||||||||||||||||||
The following table presents the carrying amounts and estimated fair values, including the level within the fair value hierarchy, of all other financial instruments that are not measured on the consolidated financial statements at fair value as of March 31, 2015 and December 31, 2014. | ||||||||||||||||||||||||||||||||||||||
Table 83: Additional Fair Value Information Related to Other Financial Instruments | ||||||||||||||||||||||||||||||||||||||
Carrying | Fair Value | |||||||||||||||||||||||||||||||||||||
In millions | Amount | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||
Cash and due from banks | $ | 4,151 | $ | 4,151 | $ | 4,151 | ||||||||||||||||||||||||||||||||
Short-term assets | 33,897 | 33,897 | $ | 33,897 | ||||||||||||||||||||||||||||||||||
Securities held to maturity | 13,189 | 13,640 | 304 | 13,328 | $ | 8 | ||||||||||||||||||||||||||||||||
Loans held for sale | 216 | 216 | 134 | 82 | ||||||||||||||||||||||||||||||||||
Net loans (excludes leases) | 192,780 | 194,750 | 194,750 | |||||||||||||||||||||||||||||||||||
Other assets | 1,924 | 2,587 | 1,847 | 740 | (a) | |||||||||||||||||||||||||||||||||
Total assets | $ | 246,157 | $ | 249,241 | $ | 4,455 | $ | 49,206 | $ | 195,580 | ||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||
Demand, savings and money market deposits | $ | 215,965 | $ | 215,965 | $ | 215,965 | ||||||||||||||||||||||||||||||||
Time deposits | 20,538 | 20,531 | 20,531 | |||||||||||||||||||||||||||||||||||
Borrowed funds | 55,199 | 55,987 | 54,512 | $ | 1,475 | |||||||||||||||||||||||||||||||||
Unfunded loan commitments and letters of credit | 217 | 217 | 217 | |||||||||||||||||||||||||||||||||||
Total liabilities | $ | 291,919 | $ | 292,700 | $ | 291,008 | $ | 1,692 | ||||||||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||
Cash and due from banks | $ | 4,360 | $ | 4,360 | $ | 4,360 | ||||||||||||||||||||||||||||||||
Short-term assets | 34,380 | 34,380 | $ | 34,380 | ||||||||||||||||||||||||||||||||||
Securities held to maturity | 11,588 | 11,984 | 292 | 11,683 | $ | 9 | ||||||||||||||||||||||||||||||||
Loans held for sale | 108 | 108 | 56 | 52 | ||||||||||||||||||||||||||||||||||
Net loans (excludes leases) | 192,573 | 194,564 | 194,564 | |||||||||||||||||||||||||||||||||||
Other assets | 1,879 | 2,544 | 1,802 | 742 | (a) | |||||||||||||||||||||||||||||||||
Total assets | $ | 244,888 | $ | 247,940 | $ | 4,652 | $ | 47,921 | $ | 195,367 | ||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||
Demand, savings and money market deposits | $ | 210,838 | $ | 210,838 | $ | 210,838 | ||||||||||||||||||||||||||||||||
Time deposits | 21,396 | 21,392 | 21,392 | |||||||||||||||||||||||||||||||||||
Borrowed funds | 55,329 | 56,011 | 54,574 | $ | 1,437 | |||||||||||||||||||||||||||||||||
Unfunded loan commitments and letters of credit | 240 | 240 | 240 | |||||||||||||||||||||||||||||||||||
Total liabilities | $ | 287,803 | $ | 288,481 | $ | 286,804 | $ | 1,677 | ||||||||||||||||||||||||||||||
(a) | Represents estimated fair value of Visa Class B common shares, which was estimated solely based upon the March 31, 2015 and December 31, 2014 closing price for the Visa Class A common shares, respectively, and the Visa Class B common share conversion rate, which reflects adjustments in respect of all litigation funding by Visa as of that date. The transfer restrictions on the Visa Class B common shares could impact the aforementioned estimate, until they can be converted to Class A common shares. See Note 22 Commitments and Guarantees in our Notes to Consolidated Financial Statements under Item 8 of our 2014 Form 10-K for additional information. | |||||||||||||||||||||||||||||||||||||
The aggregate fair values in the preceding table represent only a portion of the total market value of PNC’s assets and liabilities as, in accordance with the guidance related to fair values of financial instruments, Table 83 excludes the following: | ||||||||||||||||||||||||||||||||||||||
financial instruments recorded at fair value on a recurring basis, | ||||||||||||||||||||||||||||||||||||||
real and personal property, | ||||||||||||||||||||||||||||||||||||||
lease financing, | ||||||||||||||||||||||||||||||||||||||
loan customer relationships, | ||||||||||||||||||||||||||||||||||||||
deposit customer intangibles, | ||||||||||||||||||||||||||||||||||||||
mortgage servicing rights, | ||||||||||||||||||||||||||||||||||||||
retail branch networks, | ||||||||||||||||||||||||||||||||||||||
fee-based businesses, such as asset management and brokerage, and | ||||||||||||||||||||||||||||||||||||||
trademarks and brand names. | ||||||||||||||||||||||||||||||||||||||
For more information regarding the methods and assumptions used to estimate the fair values of financial instruments included in Table 83, see Note 7 Fair Value in our Notes To Consolidated Financial Statements under Item 8 of our 2014 Form 10-K. | ||||||||||||||||||||||||||||||||||||||
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 3 Months Ended | ||||||||||||||
Mar. 31, 2015 | |||||||||||||||
Goodwill and Other Intangible Assets Disclosure [Abstract] | |||||||||||||||
Goodwill and Other Intangible Assets | Note 8 Goodwill and Intangible Assets | ||||||||||||||
Goodwill | |||||||||||||||
Goodwill by business segment consisted of the following: | |||||||||||||||
Table 84: Goodwill by Business Segment (a) | |||||||||||||||
31-Mar | 31-Dec | ||||||||||||||
In millions | 2015 | 2014 | |||||||||||||
Retail Banking | $ | 5,795 | $ | 5,795 | |||||||||||
Corporate & Institutional Banking | 3,244 | 3,244 | |||||||||||||
Asset Management Group | 64 | 64 | |||||||||||||
Total | $ | 9,103 | $ | 9,103 | |||||||||||
(a) | The Residential Mortgage Banking and Non-Strategic Assets Portfolio business segments did not have any goodwill allocated to them as of March 31, 2015 and December 31, 2014. | ||||||||||||||
Mortgage Servicing Rights | |||||||||||||||
We recognize the right to service mortgage loans for others as an intangible asset. MSRs are purchased or originated when loans are sold with servicing retained. MSRs totaled $1.3 billion and $1.4 billion at March 31, 2015 and December 31, 2014, respectively, and consisted of loan servicing contracts for commercial and residential mortgages measured at fair value. | |||||||||||||||
MSRs are subject to declines in value from actual or expected prepayment of the underlying loans and defaults as well as market driven changes in interest rates. We manage this risk by economically hedging the fair value of MSRs with securities and derivative instruments which are expected to increase (or decrease) in value when the value of MSRs declines (or increases). | |||||||||||||||
See the Sensitivity Analysis section of this Note 8, as well as Note 7 Fair Value for more detail on our fair value measurement of MSRs. Refer to Note 8 Goodwill and Other Intangible Assets in our Notes To Consolidated Financial Statements under Item 8 of our 2014 Form 10-K for more information on our accounting and measurement of MSRs. | |||||||||||||||
Changes in the commercial and residential MSRs follow: | |||||||||||||||
Table 85: Mortgage Servicing Rights | |||||||||||||||
Commercial MSRs | Residential MSRs | ||||||||||||||
In millions | 2015 | 2014 | 2015 | 2014 | |||||||||||
1-Jan | $ | 506 | $ | 552 | $ | 845 | $ | 1,087 | |||||||
Additions: | |||||||||||||||
From loans sold with servicing retained | 14 | 7 | 17 | 23 | |||||||||||
Purchases | 11 | 7 | 83 | 17 | |||||||||||
Changes in fair value due to: | |||||||||||||||
Time and payoffs (a) | -21 | -23 | -39 | -29 | |||||||||||
Other (b) | -16 | -14 | -67 | -59 | |||||||||||
31-Mar | $ | 494 | $ | 529 | $ | 839 | $ | 1,039 | |||||||
Unpaid principal balance of loans serviced for others at March 31 | $ | 143,724 | $ | 144,332 | $ | 112,932 | $ | 113,573 | |||||||
(a) | Represents decrease in MSR value due to passage of time, including the impact from both regularly scheduled loan principal payments and loans that were paid down or paid off during the period. | ||||||||||||||
(b) | Represents MSR value changes resulting primarily from market-driven changes in interest rates. | ||||||||||||||
Sensitivity Analysis | |||||||||||||||
The fair value of commercial and residential MSRs and significant inputs to the valuation models as of March 31, 2015 are shown in the tables below. The expected and actual rates of mortgage loan prepayments are significant factors driving the fair value. Management uses both internal proprietary models and a third-party model to estimate future commercial mortgage loan prepayments and a third-party model to estimate future residential mortgage loan prepayments. These models have been refined based on current market conditions and management judgment. Future interest rates are another important factor in the valuation of MSRs. Management utilizes market implied forward interest rates to estimate the future direction of mortgage and discount rates. The forward rates utilized are derived from the current yield curve for U.S. dollar interest rate swaps and are consistent with pricing of capital markets instruments. Changes in the shape and slope of the forward curve in future periods may result in volatility in the fair value estimate. | |||||||||||||||
A sensitivity analysis of the hypothetical effect on the fair value of MSRs to adverse changes in key assumptions is presented below. These sensitivities do not include the impact of the related hedging activities. Changes in fair value generally cannot be extrapolated because the relationship of the change in the assumption to the change in fair value may not be linear. Also, the effect of a variation in a particular assumption on the fair value of the MSRs is calculated independently without changing any other assumption. In reality, changes in one factor may result in changes in another (for example, changes in mortgage interest rates, which drive changes in prepayment rate estimates, could result in changes in the interest rate spread), which could either magnify or counteract the sensitivities. | |||||||||||||||
The following tables set forth the fair value of commercial and residential MSRs and the sensitivity analysis of the hypothetical effect on the fair value of MSRs to immediate adverse changes of 10% and 20% in those assumptions: | |||||||||||||||
Table 86: Commercial Mortgage Loan Servicing Rights - Key Valuation Assumptions | |||||||||||||||
31-Mar | 31-Dec | ||||||||||||||
Dollars in millions | 2015 | 2014 | |||||||||||||
Fair value | $ | 494 | $ | 506 | |||||||||||
Weighted-average life (years) | 4.8 | 4.7 | |||||||||||||
Weighted-average constant prepayment rate | 7.51 | % | 8.03 | % | |||||||||||
Decline in fair value from 10% adverse change | $ | 10 | $ | 10 | |||||||||||
Decline in fair value from 20% adverse change | $ | 19 | $ | 19 | |||||||||||
Effective discount rate | 6.45 | % | 6.59 | % | |||||||||||
Decline in fair value from 10% adverse change | $ | 13 | $ | 13 | |||||||||||
Decline in fair value from 20% adverse change | $ | 26 | $ | 26 | |||||||||||
Table 87: Residential Mortgage Loan Servicing Rights - Key Valuation Assumptions | |||||||||||||||
31-Mar | 31-Dec | ||||||||||||||
Dollars in millions | 2015 | 2014 | |||||||||||||
Fair value | $ | 839 | $ | 845 | |||||||||||
Weighted-average life (years) | 5.7 | 6.1 | |||||||||||||
Weighted-average constant prepayment rate | 12.41 | % | 11.16 | % | |||||||||||
Decline in fair value from 10% adverse change | $ | 40 | $ | 36 | |||||||||||
Decline in fair value from 20% adverse change | $ | 77 | $ | 69 | |||||||||||
Weighted-average option adjusted spread | 9.85 | % | 10.36 | % | |||||||||||
Decline in fair value from 10% adverse change | $ | 29 | $ | 31 | |||||||||||
Decline in fair value from 20% adverse change | $ | 57 | $ | 61 | |||||||||||
Fees from mortgage and other loan servicing, comprised of contractually specified servicing fees, late fees and ancillary fees, follows: | |||||||||||||||
Table 88: Fees from Mortgage and Other Loan Servicing | |||||||||||||||
In millions | 2015 | 2014 | |||||||||||||
Three months ended March 31 | $ | 121 | $ | 129 | |||||||||||
We also generate servicing fees from fee-based activities provided to others for which we do not have an associated servicing asset. | |||||||||||||||
Fees from commercial and residential MSRs are reported on our Consolidated Income Statement in the line items Corporate services and Residential mortgage, respectively. | |||||||||||||||
Other Intangible Assets | |||||||||||||||
Other intangible assets consist primarily of core deposit intangibles, customer lists and non-compete agreements. Core deposit intangibles are amortized on an accelerated basis, whereas the remaining other intangible assets are amortized on a straight-line basis. The estimated remaining useful lives of our other intangible assets range from 2 years to 10 years, with a weighted-average remaining useful life of 6 years. | |||||||||||||||
Other intangible assets were as follows at March 31, 2015 and December 31, 2014: | |||||||||||||||
Table 89: Other Intangible Assets | |||||||||||||||
31-Mar | 31-Dec | ||||||||||||||
In millions | 2015 | 2014 | |||||||||||||
Gross carrying amount | $ | 1,499 | $ | 1,502 | |||||||||||
Accumulated amortization | -1,036 | -1,009 | |||||||||||||
Net carrying amount | $ | 463 | $ | 493 | |||||||||||
Amortization expense on existing other intangible assets follows: | |||||||||||||||
Table 90: Amortization Expense on Existing Other Intangible Assets | |||||||||||||||
In millions | |||||||||||||||
Three months ended March 31, 2015 | $ | 30 | |||||||||||||
Three months ended March 31, 2014 | 33 | ||||||||||||||
Remainder of 2015 | 84 | ||||||||||||||
2016 | 97 | ||||||||||||||
2017 | 83 | ||||||||||||||
2018 | 72 | ||||||||||||||
2019 | 61 | ||||||||||||||
2020 | 37 | ||||||||||||||
Capital_Securities_of_a_Subsid
Capital Securities of a Subsidiary Trust and Perpetual Trust Securities | 3 Months Ended |
Mar. 31, 2015 | |
Capital Securities of Subsidiary Trusts [Abstract] | |
Capital Securities of a Subsidiary Trust and Perpetual Trust Securities | Note 9 Capital Securities of a Subsidiary Trust and Perpetual Trust Securities |
Capital Securities of a Subsidiary Trust | |
Our capital securities of a subsidiary trust (“Trust”) are described in Note 12 Capital Securities of a Subsidiary Trust and Perpetual Trust Securities in our 2014 Form 10-K. This Trust is a wholly-owned finance subsidiary of PNC. In the event of certain changes or amendments to regulatory requirements or federal tax rules, the capital securities are redeemable in whole. In accordance with GAAP, the financial statements of the Trust are not included in PNC's consolidated financial statements. | |
The obligations of the parent of the Trust, when taken collectively, are the equivalent of a full and unconditional guarantee of the obligations of the Trust under the terms of the Capital Securities. Such guarantee is subordinate in right of payment in the same manner as other junior subordinated debt. There are certain restrictions on PNC’s overall ability to obtain funds from its subsidiaries. For additional disclosure on these funding restrictions, including an explanation of dividend and intercompany loan limitations, see Note 20 Regulatory Matters in our 2014 Form 10-K. | |
PNC is also subject to restrictions on dividends and other provisions potentially imposed under the Exchange Agreement with PNC Preferred Funding Trust II, as described in Note 12 in our 2014 Form 10-K in the Perpetual Trust Securities section, and to other provisions similar to or in some ways more restrictive than those potentially imposed under that agreement. | |
Perpetual Trust Securities | |
Our perpetual trust securities are described in Note 12 in our 2014 Form 10-K. Our 2014 Form 10-K also includes additional information regarding the PNC Preferred Funding Trust I and Trust II Securities, including descriptions of replacement capital and dividend restriction covenants. |
Certain_Employee_Benefit_and_S
Certain Employee Benefit and Stock Based Compensation Plans | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Employee Benefit Plans [Abstract] | |||||||||||||||||||||
Certain Employee Benefit and Stock Based Compensation Plans | Note 10 Certain Employee Benefit And Stock Based Compensation Plans | ||||||||||||||||||||
Pension And Postretirement Plans | |||||||||||||||||||||
As described in Note 13 Employee Benefit Plans in our 2014 Form 10-K, we have a noncontributory, qualified defined benefit pension plan covering eligible employees. Benefits are determined using a cash balance formula where earnings credits are a percentage of eligible compensation. Pension contributions are based on an actuarially determined amount necessary to fund total benefits payable to plan participants. | |||||||||||||||||||||
We also maintain nonqualified supplemental retirement plans for certain employees and provide certain health care and life insurance benefits for qualifying retired employees (postretirement benefits) through various plans. The nonqualified pension and postretirement benefit plans are unfunded. PNC reserves the right to terminate plans or make plan changes at any time. | |||||||||||||||||||||
The components of our net periodic pension and postretirement benefit cost for the first three months of 2015 and 2014, respectively, were as follows: | |||||||||||||||||||||
Table 91: Net Periodic Pension and Postretirement Benefits Costs | |||||||||||||||||||||
Qualified Pension Plan | Nonqualified Retirement Plans | Postretirement Benefits | |||||||||||||||||||
Three months ended March 31 | |||||||||||||||||||||
In millions | 2015 | 2014 | 2015 | 2014 | 2015 | 2014 | |||||||||||||||
Net periodic cost consists of: | |||||||||||||||||||||
Service cost | $ | 27 | $ | 25 | $ | 1 | $ | 1 | $ | 1 | |||||||||||
Interest cost | 44 | 47 | $ | 3 | 3 | 4 | 4 | ||||||||||||||
Expected return on plan assets | -74 | -72 | |||||||||||||||||||
Amortization of prior service credit | -2 | -2 | |||||||||||||||||||
Amortization of actuarial losses | 7 | 2 | 1 | ||||||||||||||||||
Net periodic cost/(benefit) | $ | 2 | $ | -2 | $ | 5 | $ | 5 | $ | 5 | $ | 5 | |||||||||
Stock Based Compensation Plans | |||||||||||||||||||||
As more fully described in Note 14 Stock Based Compensation Plans in our 2014 Form 10-K, we have long-term incentive award plans (Incentive Plans) that provide for the granting of incentive stock options, nonqualified stock options, stock appreciation rights, incentive shares/performance units, restricted stock, restricted share units, other share-based awards and dollar-denominated awards to executives and, other than incentive stock options, to non-employee directors. Certain Incentive Plan awards may be paid in stock, cash or a combination of stock and cash. We typically grant a substantial portion of our stock-based compensation awards during the first quarter of the year. As of March 31, 2015, no stock appreciation rights were outstanding. | |||||||||||||||||||||
Total compensation expense recognized related to all share-based payment arrangements during the first three months of 2015 and 2014 was $40 million and $50 million, respectively. At March 31, 2015, there was $285 million of unamortized share-based compensation expense related to nonvested equity compensation arrangements, including liability awards granted under the Incentive Plans. This unamortized cost is expected to be recognized as expense over a period of no longer than five years. | |||||||||||||||||||||
Nonqualified Stock Options | |||||||||||||||||||||
Beginning in 2014, PNC discontinued the use of stock options as a standard element of our long-term equity incentive compensation programs under our Incentive Plans. Additional information regarding PNC stock options is more fully described in Note 14 Stock Based Compensation Plans in our 2014 Form 10-K. | |||||||||||||||||||||
The following table represents the stock option activity for the first three months of 2015. | |||||||||||||||||||||
Table 92: Stock Option Rollforward | |||||||||||||||||||||
PNC Options | |||||||||||||||||||||
Converted From | |||||||||||||||||||||
National City | |||||||||||||||||||||
PNC | Options | Total | |||||||||||||||||||
Weighted-Average | Weighted-Average | Weighted-Average | |||||||||||||||||||
In thousands, except weighted-average data | Shares | Exercise Price | Shares | Exercise Price | Shares | Exercise Price | |||||||||||||||
Outstanding at December 31, 2014 | 6,701 | $ | 56.41 | 343 | $ | 585.23 | 7,044 | $ | 82.17 | ||||||||||||
Granted (a) | |||||||||||||||||||||
Exercised | -793 | 59.76 | -793 | 59.76 | |||||||||||||||||
Cancelled | -9 | 33.38 | -4 | 545.29 | -13 | 189.22 | |||||||||||||||
Outstanding at March 31, 2015 | 5,899 | $ | 55.99 | 339 | $ | 585.72 | 6,238 | $ | 84.78 | ||||||||||||
Exercisable at March 31, 2015 | 5,851 | $ | 55.93 | 339 | $ | 585.72 | 6,190 | $ | 84.95 | ||||||||||||
(a) PNC did not grant any stock options in the first three months of 2015. | |||||||||||||||||||||
During the first three months of 2015, we issued approximately 0.7 million common shares from treasury stock in connection with stock option exercise activity. As with past exercise activity, we currently intend to utilize primarily treasury stock for any future stock option exercises. | |||||||||||||||||||||
Incentive/Performance Unit Share Awards and Restricted Stock/Share Unit Awards | |||||||||||||||||||||
Information on incentive/performance unit share awards and restricted stock/share unit awards is more fully described in Note 14 Stock Based Compensation Plans in our 2014 Form 10-K. | |||||||||||||||||||||
Table 93: Nonvested Incentive/Performance Unit Share Awards and Restricted Stock/Share Unit Awards - Rollforward | |||||||||||||||||||||
Nonvested | |||||||||||||||||||||
Nonvested | Weighted- | Restricted | Weighted- | ||||||||||||||||||
Incentive/ | Average | Stock/ | Average | ||||||||||||||||||
Performance | Grant Date | Share | Grant Date | ||||||||||||||||||
Shares in thousands | Unit Shares | Fair Value | Units | Fair Value | |||||||||||||||||
31-Dec-14 | 1,837 | $ | 69.84 | 3,652 | $ | 69.03 | |||||||||||||||
Granted | 649 | 90.35 | 999 | 92.19 | |||||||||||||||||
Vested/Released | -682 | 66.17 | -1,035 | 60.63 | |||||||||||||||||
Forfeited | -21 | 68.51 | -30 | 74.64 | |||||||||||||||||
31-Mar-15 | 1,783 | $ | 78.72 | 3,586 | $ | 77.86 | |||||||||||||||
In the preceding table, the unit shares and related weighted-average grant date fair value of the incentive/performance awards exclude the effect of dividends on the underlying shares, as those dividends will be paid in cash if and when the underlying unit shares are released to the participants. | |||||||||||||||||||||
Liability Awards | |||||||||||||||||||||
A summary of all nonvested, cash-payable incentive/performance units and restricted share unit activity follows: | |||||||||||||||||||||
Table 94: Nonvested Cash-Payable Incentive/Performance Units and Restricted Share Units – Rollforward | |||||||||||||||||||||
Cash-Payable | |||||||||||||||||||||
Incentive/ | Cash-Payable | ||||||||||||||||||||
Performance | Restricted | ||||||||||||||||||||
In thousands | Units | Share Units | Total | ||||||||||||||||||
Outstanding at December 31, 2014 | 177 | 658 | 835 | ||||||||||||||||||
Granted | 81 | 347 | 428 | ||||||||||||||||||
Vested and Released | -98 | -349 | -447 | ||||||||||||||||||
Forfeited | -43 | -4 | -47 | ||||||||||||||||||
Outstanding at March 31, 2015 | 117 | 652 | 769 | ||||||||||||||||||
Included in the preceding table are cash-payable restricted share units granted to certain executives. These grants were made primarily as part of an annual bonus incentive deferral plan. While there are time-based and other vesting criteria, there are generally no market or performance criteria associated with these awards. Prior to the 2015 grant, compensation expense recognized related to these awards was recorded in prior periods as part of the annual cash bonus process. Due to certain requisite service period changes in the award agreements starting with the 2015 grant (for the 2014 performance year), compensation expense is recognized ratably over a four year period commensurate with the performance year plus the three years of service-based vesting requirements. As of March 31, 2015, the aggregate intrinsic value of all outstanding nonvested cash-payable incentive/performance units and restricted share units was approximately $72 million. |
Financial_Derivatives
Financial Derivatives | 3 Months Ended | |||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||
Financial Derivatives | Note 11 Financial Derivatives | |||||||||||||||||||||
We use derivative financial instruments (derivatives) primarily to help manage exposure to interest rate, market and credit risk and reduce the effects that changes in interest rates may have on net income, the fair value of assets and liabilities, and cash flows. We also enter into derivatives with customers to facilitate their risk management activities. Derivatives represent contracts between parties that usually require little or no initial net investment and result in one party delivering cash or another type of asset to the other party based on a notional amount and an underlying as specified in the contract. | ||||||||||||||||||||||
For more information regarding derivatives see Note 1 Accounting Policies and Note 15 Financial Derivatives in our Notes To Consolidated Financial Statements under Item 8 of our 2014 Form 10-K. | ||||||||||||||||||||||
The following table presents the notional amounts and gross fair values of all derivative assets and liabilities held by PNC: | ||||||||||||||||||||||
Table 95: Total Gross Derivatives | ||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||
Notional/ | Asset | Liability | Notional/ | Asset | Liability | |||||||||||||||||
Contract | Fair | Fair | Contract | Fair | Fair | |||||||||||||||||
In millions | Amount | Value (a) | Value (b) | Amount | Value (a) | Value (b) | ||||||||||||||||
Derivatives designated as hedging instruments under GAAP | $ | 49,475 | $ | 1,531 | $ | 198 | $ | 49,061 | $ | 1,261 | $ | 186 | ||||||||||
Derivatives not designated as hedging instruments under GAAP | 307,201 | 4,722 | 4,546 | 291,256 | 3,973 | 3,841 | ||||||||||||||||
Total gross derivatives | $ | 356,676 | $ | 6,253 | $ | 4,744 | $ | 340,317 | $ | 5,234 | $ | 4,027 | ||||||||||
(a) | Included in Other assets on our Consolidated Balance Sheet. | |||||||||||||||||||||
(b) | Included in Other liabilities on our Consolidated Balance Sheet. | |||||||||||||||||||||
All derivatives are carried on our Consolidated Balance Sheet at fair value. Derivative balances are presented on the Consolidated Balance Sheet on a net basis taking into consideration the effects of legally enforceable master netting agreements and any related cash collateral exchanged with counterparties. Further discussion regarding the rights of setoff associated with these legally enforceable master netting agreements is included in the Offsetting, Counterparty Credit Risk, and Contingent Features section below. Our exposure related to risk participations where we sold protection is discussed in the Credit Derivatives section below. Any nonperformance risk, including credit risk, is included in the determination of the estimated net fair value of the derivatives. | ||||||||||||||||||||||
Derivatives Designated As Hedging Instruments under GAAP | ||||||||||||||||||||||
Certain derivatives used to manage interest rate and foreign exchange risk as part of our asset and liability risk management activities are designated as accounting hedges under GAAP. Derivatives hedging the risks associated with changes in the fair value of assets or liabilities are considered fair value hedges, derivatives hedging the variability of expected future cash flows are considered cash flow hedges, and derivatives hedging a net investment in a foreign subsidiary are considered net investment hedges. Designating derivatives as accounting hedges allows for gains and losses on those derivatives, to the extent effective, to be recognized in the income statement in the same period the hedged items affect earnings. | ||||||||||||||||||||||
Further detail regarding the notional amounts and fair values related to derivatives designated in hedge relationships is presented in the following table: | ||||||||||||||||||||||
Table 96: Derivatives Designated As Hedging Instruments under GAAP | ||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||
Notional/ | Asset | Liability | Notional/ | Asset | Liability | |||||||||||||||||
Contract | Fair | Fair | Contract | Fair | Fair | |||||||||||||||||
In millions | Amount | Value (a) | Value (b) | Amount | Value (a) | Value (b) | ||||||||||||||||
Interest rate contracts: | ||||||||||||||||||||||
Fair value hedges: | ||||||||||||||||||||||
Receive-fixed swaps | $ | 21,338 | $ | 921 | $ | 20,930 | $ | 827 | $ | 38 | ||||||||||||
Pay-fixed swaps (c) | 4,300 | 1 | $ | 198 | 4,233 | 3 | 138 | |||||||||||||||
Subtotal | $ | 25,638 | $ | 922 | $ | 198 | $ | 25,163 | $ | 830 | $ | 176 | ||||||||||
Cash flow hedges: | ||||||||||||||||||||||
Receive-fixed swaps | $ | 20,954 | $ | 538 | $ | 19,991 | $ | 400 | $ | 10 | ||||||||||||
Forward purchase commitments | 1,800 | 11 | 2,778 | 25 | ||||||||||||||||||
Subtotal | $ | 22,754 | $ | 549 | $ | 22,769 | $ | 425 | $ | 10 | ||||||||||||
Foreign exchange contracts: | ||||||||||||||||||||||
Net investment hedges | 1,083 | 60 | 1,129 | 6 | ||||||||||||||||||
Total derivatives designated as hedging instruments | $ | 49,475 | $ | 1,531 | $ | 198 | $ | 49,061 | $ | 1,261 | $ | 186 | ||||||||||
(a) | Included in Other assets on our Consolidated Balance Sheet. | |||||||||||||||||||||
(b) | Included in Other liabilities on our Consolidated Balance Sheet. | |||||||||||||||||||||
(c) | Includes zero-coupon swaps. | |||||||||||||||||||||
Fair Value Hedges | ||||||||||||||||||||||
We enter into receive-fixed, pay-variable interest rate swaps to hedge changes in the fair value of outstanding fixed-rate debt and borrowings caused by fluctuations in market interest rates. We also enter into pay-fixed, receive-variable interest rate swaps and zero-coupon swaps to hedge changes in the fair value of fixed rate and zero-coupon investment securities caused by fluctuations in market interest rates. For these hedge relationships, we use statistical regression analysis to assess hedge effectiveness at both the inception of the hedge relationship and on an ongoing basis. There were no components of derivative gains or losses excluded from the assessment of hedge effectiveness. | ||||||||||||||||||||||
Further detail regarding gains (losses) on fair value hedge derivatives and related hedged items is presented in the following table: | ||||||||||||||||||||||
Table 97: Gains (Losses) on Derivatives and Related Hedged Items - Fair Value Hedges | ||||||||||||||||||||||
Three months ended | ||||||||||||||||||||||
31-Mar-15 | 31-Mar-14 | |||||||||||||||||||||
Gain (Loss) | Gain (Loss) | |||||||||||||||||||||
Gain | on Related | Gain | on Related | |||||||||||||||||||
(Loss) on | Hedged | (Loss) on | Hedged | |||||||||||||||||||
Derivatives | Items | Derivatives | Items | |||||||||||||||||||
Recognized | Recognized | Recognized | Recognized | |||||||||||||||||||
In millions | Hedged Items | Location | in Income | in Income | in Income | in Income | ||||||||||||||||
Interest rate contracts | U.S. Treasury and Government | Investment securities | ||||||||||||||||||||
Agencies Securities | (interest income) | $ | -51 | $ | 53 | $ | -30 | $ | 31 | |||||||||||||
Interest rate contracts | Other Debt Securities | Investment securities | ||||||||||||||||||||
(interest income) | -1 | 1 | 1 | |||||||||||||||||||
Interest rate contracts | Subordinated debt | Borrowed funds | ||||||||||||||||||||
(interest expense) | 54 | -63 | 23 | -29 | ||||||||||||||||||
Interest rate contracts | Bank notes and | Borrowed funds | ||||||||||||||||||||
senior debt | (interest expense) | 103 | -109 | 9 | -10 | |||||||||||||||||
Total (a) | $ | 105 | $ | -118 | $ | 3 | $ | -8 | ||||||||||||||
(a) | The ineffective portion of the change in value of our fair value hedge derivatives resulted in net losses of $13 million for the first three months of 2015 compared with net losses of $5 million for the first three months of 2014. | |||||||||||||||||||||
Cash Flow Hedges | ||||||||||||||||||||||
We enter into receive-fixed, pay-variable interest rate swaps to modify the interest rate characteristics of designated commercial loans from variable to fixed in order to reduce the impact of changes in future cash flows due to market interest rate changes. For these cash flow hedges, any changes in the fair value of the derivatives that are effective in offsetting changes in the forecasted interest cash flows are recorded in Accumulated other comprehensive income and are reclassified to interest income in conjunction with the recognition of interest received on the loans. In the 12 months that follow March 31, 2015, we expect to reclassify from the amount currently reported in Accumulated other comprehensive income, net derivative gains of $257 million pretax, or $167 million after-tax, in association with interest received on the hedged loans. This amount could differ from amounts actually recognized due to changes in interest rates, hedge de-designations, and the addition of other hedges subsequent to March 31, 2015. The maximum length of time over which forecasted loan cash flows are hedged is 10 years. We use statistical regression analysis to assess the effectiveness of these hedge relationships at both the inception of the hedge relationship and on an ongoing basis. | ||||||||||||||||||||||
We also periodically enter into forward purchase and sale contracts to hedge the variability of the consideration that will be paid or received related to the purchase or sale of investment securities. The forecasted purchase or sale is consummated upon gross settlement of the forward contract itself. As a result, hedge ineffectiveness, if any, is typically minimal. Gains and losses on these forward contracts are recorded in Accumulated other comprehensive income and are recognized in earnings when the hedged cash flows affect earnings. In the 12 months that follow March 31, 2015, we expect to reclassify from the amount currently reported in Accumulated other comprehensive income, net derivative gains of $38 million pretax, or $25 million after-tax, as adjustments of yield on investment securities. As of March 31, 2015, the maximum length of time over which forecasted purchase contracts are hedged is three months. | ||||||||||||||||||||||
There were no components of derivative gains or losses excluded from the assessment of hedge effectiveness related to either cash flow hedge strategy. | ||||||||||||||||||||||
During the first three months of 2015 and 2014, there were no gains or losses from cash flow hedge derivatives reclassified to earnings because it became probable that the original forecasted transaction would not occur. | ||||||||||||||||||||||
Further detail regarding gains (losses) on derivatives and related cash flows is presented in the following table: | ||||||||||||||||||||||
Table 98: Gains (Losses) on Derivatives and Related Cash Flows - Cash Flow Hedges (a) (b) | ||||||||||||||||||||||
Three months ended | ||||||||||||||||||||||
31-Mar | ||||||||||||||||||||||
In millions | 2015 | 2014 | ||||||||||||||||||||
Gains (losses) on derivatives recognized in OCI - (effective portion) | $ | 298 | $ | 72 | ||||||||||||||||||
Less: Gains (losses) reclassified from accumulated OCI into income - (effective portion) | ||||||||||||||||||||||
Interest income | 68 | 72 | ||||||||||||||||||||
Noninterest income | -9 | 5 | ||||||||||||||||||||
Total gains (losses) reclassified from accumulated OCI into income - (effective portion) | 59 | 77 | ||||||||||||||||||||
Net unrealized gains (losses) on cash flow hedge derivatives | $ | 239 | $ | -5 | ||||||||||||||||||
(a) | All cash flow hedge derivatives are interest rate contracts as of March 31, 2015 and March 31, 2014. | |||||||||||||||||||||
(b) | The amount of cash flow hedge ineffectiveness recognized in income was not material for the periods presented. | |||||||||||||||||||||
Net Investment Hedges | ||||||||||||||||||||||
We enter into foreign currency forward contracts to hedge non-U.S. Dollar (USD) net investments in foreign subsidiaries against adverse changes in foreign exchange rates. We assess whether the hedging relationship is highly effective in achieving offsetting changes in the value of the hedge and hedged item by qualitatively verifying that the critical terms of the hedge and hedged item match at the inception of the hedging relationship and on an ongoing basis. There were no components of derivative gains or losses excluded from the assessment of the hedge effectiveness. | ||||||||||||||||||||||
For the first three months of 2015 and 2014, there was no net investment hedge ineffectiveness. | ||||||||||||||||||||||
Further detail on gains (losses) on net investment hedge derivatives is presented in the following table: | ||||||||||||||||||||||
Table 99: Gains (Losses) on Derivatives - Net Investment Hedges | ||||||||||||||||||||||
Three months ended | ||||||||||||||||||||||
31-Mar | ||||||||||||||||||||||
In millions | 2015 | 2014 | ||||||||||||||||||||
Gains (losses) on derivatives recognized in OCI (effective portion) | ||||||||||||||||||||||
Foreign exchange contracts | $ | 54 | $ | -7 | ||||||||||||||||||
Derivatives Not Designated As Hedging Instruments under GAAP | ||||||||||||||||||||||
We also enter into derivatives that are not designated as accounting hedges under GAAP. | ||||||||||||||||||||||
For additional information on derivatives not designated as hedging instruments under GAAP see Note 15 Financial Derivatives in our Notes To Consolidated Financial Statements under Item 8 of our 2014 Form 10-K. | ||||||||||||||||||||||
Further detail regarding the notional amounts and fair values related to derivatives not designated in hedge relationships is presented in the following table: | ||||||||||||||||||||||
Table 100: Derivatives Not Designated As Hedging Instruments under GAAP | ||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||
Notional/ | Asset | Liability | Notional/ | Asset | Liability | |||||||||||||||||
Contract | Fair | Fair | Contract | Fair | Fair | |||||||||||||||||
In millions | Amount | Value (a) | Value (b) | Amount | Value (a) | Value (b) | ||||||||||||||||
Derivatives used for residential mortgage banking activities: | ||||||||||||||||||||||
Residential mortgage servicing | ||||||||||||||||||||||
Interest rate contracts: | ||||||||||||||||||||||
Swaps | $ | 32,765 | $ | 935 | $ | 548 | $ | 32,459 | $ | 777 | $ | 394 | ||||||||||
Swaptions | 2,698 | 41 | 31 | 1,498 | 29 | 22 | ||||||||||||||||
Futures (c) | 21,164 | 22,084 | ||||||||||||||||||||
Futures options | 22,000 | 6 | 3 | 12,225 | 4 | |||||||||||||||||
Mortgage-backed securities commitments | 1,510 | 4 | 1 | 710 | 4 | |||||||||||||||||
Subtotal | $ | 80,137 | $ | 986 | $ | 583 | $ | 68,976 | $ | 814 | $ | 416 | ||||||||||
Loan sales | ||||||||||||||||||||||
Interest rate contracts: | ||||||||||||||||||||||
Futures (c) | $ | 28 | $ | 58 | ||||||||||||||||||
Bond options | 400 | $ | 2 | 300 | ||||||||||||||||||
Mortgage-backed securities commitments | 6,240 | 10 | $ | 15 | 4,916 | $ | 10 | $ | 21 | |||||||||||||
Residential mortgage loan commitments | 2,405 | 31 | 1,852 | 22 | ||||||||||||||||||
Subtotal | $ | 9,073 | $ | 43 | $ | 15 | $ | 7,126 | $ | 32 | $ | 21 | ||||||||||
Subtotal | $ | 89,210 | $ | 1,029 | $ | 598 | $ | 76,102 | $ | 846 | $ | 437 | ||||||||||
Derivatives used for commercial mortgage banking activities: | ||||||||||||||||||||||
Interest rate contracts: | ||||||||||||||||||||||
Swaps | $ | 3,818 | $ | 96 | $ | 65 | $ | 3,801 | $ | 67 | $ | 48 | ||||||||||
Swaptions | 439 | 1 | 1 | 439 | 2 | 1 | ||||||||||||||||
Futures (c) | 18,904 | 19,913 | ||||||||||||||||||||
Commercial mortgage loan commitments | 2,119 | 18 | 14 | 2,042 | 16 | 10 | ||||||||||||||||
Subtotal | $ | 25,280 | $ | 115 | $ | 80 | $ | 26,195 | $ | 85 | $ | 59 | ||||||||||
Credit contracts: | ||||||||||||||||||||||
Credit default swaps | $ | 95 | $ | 95 | ||||||||||||||||||
Subtotal | $ | 25,375 | $ | 115 | $ | 80 | $ | 26,290 | $ | 85 | $ | 59 | ||||||||||
Derivatives used for customer-related activities: | ||||||||||||||||||||||
Interest rate contracts: | ||||||||||||||||||||||
Swaps | $ | 149,714 | $ | 2,972 | $ | 2,931 | $ | 146,008 | $ | 2,632 | $ | 2,559 | ||||||||||
Caps/floors - Sold | 5,255 | 14 | 4,846 | 16 | ||||||||||||||||||
Caps/floors - Purchased | 6,765 | 32 | 6,339 | 34 | ||||||||||||||||||
Swaptions | 4,355 | 92 | 13 | 3,361 | 62 | 12 | ||||||||||||||||
Futures (c) | 2,655 | 3,112 | ||||||||||||||||||||
Mortgage-backed securities commitments | 2,934 | 7 | 8 | 2,137 | 3 | 3 | ||||||||||||||||
Subtotal | $ | 171,678 | $ | 3,103 | $ | 2,966 | $ | 165,803 | $ | 2,731 | $ | 2,590 | ||||||||||
Foreign exchange contracts | $ | 11,112 | $ | 378 | $ | 387 | $ | 12,547 | $ | 223 | $ | 240 | ||||||||||
Credit contracts: | ||||||||||||||||||||||
Risk participation agreements | 5,048 | 3 | 5 | 5,124 | 2 | 4 | ||||||||||||||||
Subtotal | $ | 187,838 | $ | 3,484 | $ | 3,358 | $ | 183,474 | $ | 2,956 | $ | 2,834 | ||||||||||
Derivatives used for other risk management activities: | ||||||||||||||||||||||
Interest rate contracts | $ | 95 | $ | 833 | $ | 1 | ||||||||||||||||
Foreign exchange contracts | 2,793 | $ | 94 | $ | 2 | 2,661 | 85 | $ | 1 | |||||||||||||
Credit contracts: | ||||||||||||||||||||||
Credit default swaps | 15 | 15 | ||||||||||||||||||||
Other contracts (d) | 1,875 | 508 | 1,881 | 510 | ||||||||||||||||||
Subtotal | $ | 4,778 | $ | 94 | $ | 510 | $ | 5,390 | 86 | $ | 511 | |||||||||||
Total derivatives not designated as hedging instruments | $ | 307,201 | $ | 4,722 | $ | 4,546 | $ | 291,256 | $ | 3,973 | $ | 3,841 | ||||||||||
(a) | Included in Other assets on our Consolidated Balance Sheet. | |||||||||||||||||||||
(b) | Included in Other liabilities on our Consolidated Balance Sheet. | |||||||||||||||||||||
(c) | Futures contracts settle in cash daily and, therefore, no derivative asset or derivative liability is recognized on our Consolidated Balance Sheet. | |||||||||||||||||||||
(d) | Includes PNC's obligation to fund a portion of certain BlackRock LTIP programs and the swaps entered into in connection with sales of a portion of Visa Class B common shares. | |||||||||||||||||||||
Further detail regarding the gains (losses) on derivatives not designated in hedging relationships is presented in the following table: | ||||||||||||||||||||||
Table 101: Gains (Losses) on Derivatives Not Designated As Hedging Instruments under GAAP | ||||||||||||||||||||||
Three months ended | ||||||||||||||||||||||
31-Mar | ||||||||||||||||||||||
In millions | 2015 | 2014 | ||||||||||||||||||||
Derivatives used for residential mortgage banking activities: | ||||||||||||||||||||||
Residential mortgage servicing | ||||||||||||||||||||||
Interest rate contracts | $ | 98 | $ | 53 | ||||||||||||||||||
Loan sales | ||||||||||||||||||||||
Interest rate contracts | 21 | 1 | ||||||||||||||||||||
Gains (losses) included in residential mortgage banking activities (a) | $ | 119 | $ | 54 | ||||||||||||||||||
Derivatives used for commercial mortgage banking activities: | ||||||||||||||||||||||
Interest rate contracts (b) (c) | $ | 30 | $ | 20 | ||||||||||||||||||
Credit contracts (c) | -1 | |||||||||||||||||||||
Gains (losses) from commercial mortgage banking activities | $ | 29 | $ | 20 | ||||||||||||||||||
Derivatives used for customer-related activities: | ||||||||||||||||||||||
Interest rate contracts | $ | 4 | $ | -1 | ||||||||||||||||||
Foreign exchange contracts | 1 | 24 | ||||||||||||||||||||
Credit contracts | 1 | |||||||||||||||||||||
Gains (losses) from customer-related activities (c) | $ | 5 | $ | 24 | ||||||||||||||||||
Derivatives used for other risk management activities: | ||||||||||||||||||||||
Interest rate contracts | $ | -4 | ||||||||||||||||||||
Foreign exchange contracts | $ | 183 | ||||||||||||||||||||
Other contracts (d) | -7 | -8 | ||||||||||||||||||||
Gains (losses) from other risk management activities (c) | $ | 176 | $ | -12 | ||||||||||||||||||
Total gains (losses) from derivatives not designated as hedging instruments | $ | 329 | $ | 86 | ||||||||||||||||||
(a) | Included in Residential mortgage noninterest income. | |||||||||||||||||||||
(b) | Included in Corporate services noninterest income. | |||||||||||||||||||||
(c) | Included in Other noninterest income. | |||||||||||||||||||||
(d) | Includes BlackRock LTIP funding obligation and the swaps entered into in connection with sales of a portion of Visa Class B common shares. | |||||||||||||||||||||
Credit Derivatives | ||||||||||||||||||||||
We enter into credit derivatives, specifically credit default swaps and risk participation agreements, as part of our commercial mortgage banking hedging activities and for customer and other risk management purposes. The credit derivative underlying is based on the credit risk of a specific entity, entities, or an index. Detail regarding credit default swaps purchased and risk participations sold follows. | ||||||||||||||||||||||
Table 102: Credit Default Swaps (a) | ||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||
Weighted- | Weighted- | |||||||||||||||||||||
Average | Average | |||||||||||||||||||||
Remaining | Remaining | |||||||||||||||||||||
Notional | Maturity | Notional | Maturity | |||||||||||||||||||
Dollars in millions | Amount | In Years | Amount | In Years | ||||||||||||||||||
Credit Default Swaps – Purchased (b) | ||||||||||||||||||||||
Single name | $ | 50 | 5.5 | $ | 50 | 5.7 | ||||||||||||||||
Index traded | 60 | 34 | 60 | 34.2 | ||||||||||||||||||
Total | $ | 110 | 21 | $ | 110 | 21.3 | ||||||||||||||||
(a) | There were no credit default swaps sold as of March 31, 2015 and December 31, 2014. | |||||||||||||||||||||
(b) | The fair value of credit default swaps purchased was less than $1 million as of March 31, 2015 and December 31, 2014. | |||||||||||||||||||||
The notional amount of these credit default swaps by credit rating is presented in the following table: | ||||||||||||||||||||||
Table 103: Credit Ratings of Credit Default Swaps (a) | ||||||||||||||||||||||
In millions | 31-Mar-15 | 31-Dec-14 | ||||||||||||||||||||
Credit Default Swaps – Purchased | ||||||||||||||||||||||
Investment grade (b) | $ | 95 | $ | 95 | ||||||||||||||||||
Subinvestment grade (c) | 15 | 15 | ||||||||||||||||||||
Total | $ | 110 | $ | 110 | ||||||||||||||||||
(a) | There were no credit default swaps sold as of March 31, 2015 and December 31, 2014. | |||||||||||||||||||||
(b) | Investment grade with a rating of BBB-/Baa3 or above based on published rating agency information. | |||||||||||||||||||||
(c) | Subinvestment grade represents a rating below BBB-/Baa3 based on published rating agency information. | |||||||||||||||||||||
The referenced/underlying assets for these credit default swaps are presented in the following table: | ||||||||||||||||||||||
Table 104: Referenced/Underlying Assets of Credit Default Swaps | ||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||
Corporate debt | 45% | 45% | ||||||||||||||||||||
Commercial mortgage-backed securities | 55% | 55% | ||||||||||||||||||||
Risk Participation Agreements | ||||||||||||||||||||||
We also periodically enter into risk participation agreements to share some of the credit exposure with other counterparties related to interest rate derivative contracts or to take on credit exposure to generate revenue. We will make/receive payments under these agreements if a customer defaults on its obligation to perform under certain derivative swap contracts. Risk participation agreements purchased and sold are included in these derivative tables: Tables 100, 101, and 105. | ||||||||||||||||||||||
Further detail regarding the notional amount, fair value and weighted-average remaining maturities in years for risk participation agreements sold is presented in the following table: | ||||||||||||||||||||||
Table 105: Risk Participation Agreements Sold | ||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||
Weighted- | Weighted- | |||||||||||||||||||||
Average | Average | |||||||||||||||||||||
Remaining | Remaining | |||||||||||||||||||||
Notional | Fair | Maturity | Notional | Fair | Maturity | |||||||||||||||||
Dollars in millions | Amount | Value | In Years | Amount | Value | In Years | ||||||||||||||||
Risk Participation Agreements Sold | $ | 2,626 | $ | -5 | 5.2 | $ | 2,796 | $ | -4 | 5.4 | ||||||||||||
Based on our internal risk rating process of the underlying third party customers referenced in the swap contracts, all exposure related to risk participation agreements sold have an internal credit rating of pass, which indicates the expected risk of default is currently low. | ||||||||||||||||||||||
We have sold risk participation agreements with terms ranging from less than 1 year to 22 years. We will be required to make payments under these agreements if a customer defaults on its obligation to perform under certain derivative swap contracts with third parties. Assuming all underlying third party customers referenced in the swap contracts defaulted at March 31, 2015, the exposure from these agreements would be $147 million based on the fair value of the underlying swaps, compared with $124 million at December 31, 2014. | ||||||||||||||||||||||
Offsetting, Counterparty Credit Risk, and Contingent Features | ||||||||||||||||||||||
We, generally, utilize a net presentation on the Consolidated Balance Sheet for those derivative financial instruments entered into with counterparties under legally enforceable master netting agreements. The master netting agreements reduce credit risk by permitting the closeout netting of various types of derivative instruments with the same counterparty upon the occurrence of an event of default. | ||||||||||||||||||||||
For additional information on derivative offsetting, counterparty credit risk, and contingent features see Note 15 Financial Derivatives in our Notes To Consolidated Financial Statements under Item 8 of our 2014 Form 10-K. Refer to Note 16 Commitments and Guarantees in this Report for additional information related to resale and repurchase agreements offsetting. | ||||||||||||||||||||||
The following derivative Table 106 shows the impact legally enforceable master netting agreements had on our derivative assets and derivative liabilities as of March 31, 2015 and December 31, 2014. The table also includes the fair value of any securities collateral held or pledged under legally enforceable master netting agreements. Cash and securities collateral amounts are included in the table only to the extent of the related net derivative fair values. | ||||||||||||||||||||||
Table 106: Derivative Assets and Liabilities Offsetting | ||||||||||||||||||||||
Amounts | Securities | |||||||||||||||||||||
Gross | Offset on the | Net | Collateral | |||||||||||||||||||
Fair Value | Consolidated Balance Sheet | Fair Value | Held Under | |||||||||||||||||||
31-Mar-15 | Derivative | Fair Value | Cash | Derivative | Master Netting | Net | ||||||||||||||||
In millions | Assets | Offset Amount | Collateral | Assets | Agreements | Amounts | ||||||||||||||||
Derivative assets | ||||||||||||||||||||||
Interest rate contracts | $ | 5,718 | $ | 2,022 | $ | 493 | $ | 3,203 | $ | 215 | $ | 2,988 | ||||||||||
Foreign exchange contracts | 532 | 289 | 88 | 155 | 8 | 147 | ||||||||||||||||
Credit contracts | 3 | 1 | 1 | 1 | 1 | |||||||||||||||||
Total derivative assets (a) (b) | $ | 6,253 | $ | 2,312 | $ | 582 | $ | 3,359 | (c) | $ | 223 | $ | 3,136 | |||||||||
Amounts | Securities | |||||||||||||||||||||
Gross | Offset on the | Net | Collateral | |||||||||||||||||||
Fair Value | Consolidated Balance Sheet | Fair Value | Pledged Under | |||||||||||||||||||
31-Mar-15 | Derivative | Fair Value | Cash | Derivative | Master Netting | Net | ||||||||||||||||
In millions | Liabilities | Offset Amount | Collateral | Liabilities | Agreements | Amounts | ||||||||||||||||
Derivative liabilities | ||||||||||||||||||||||
Interest rate contracts | $ | 3,842 | $ | 2,200 | $ | 540 | $ | 1,102 | $ | 1,102 | ||||||||||||
Foreign exchange contracts | 389 | 108 | 21 | 260 | 260 | |||||||||||||||||
Credit contracts | 5 | 4 | 1 | |||||||||||||||||||
Other contracts | 508 | 508 | 508 | |||||||||||||||||||
Total derivative liabilities (a) (b) | $ | 4,744 | $ | 2,312 | $ | 562 | $ | 1,870 | (d) | $ | 1,870 | |||||||||||
Amounts | Securities | |||||||||||||||||||||
Gross | Offset on the | Net | Collateral | |||||||||||||||||||
Fair Value | Consolidated Balance Sheet | Fair Value | Held Under | |||||||||||||||||||
31-Dec-14 | Derivative | Fair Value | Cash | Derivative | Master Netting | Net | ||||||||||||||||
In millions | Assets | Offset Amount | Collateral | Assets | Agreements | Amounts | ||||||||||||||||
Derivative assets | ||||||||||||||||||||||
Interest rate contracts | $ | 4,918 | $ | 1,981 | $ | 458 | $ | 2,479 | $ | 143 | $ | 2,336 | ||||||||||
Foreign exchange contracts | 314 | 159 | 47 | 108 | 1 | 107 | ||||||||||||||||
Credit contracts | 2 | 1 | 1 | |||||||||||||||||||
Total derivative assets (a) (b) | $ | 5,234 | $ | 2,141 | $ | 506 | $ | 2,587 | (c) | $ | 144 | $ | 2,443 | |||||||||
Amounts | Securities | |||||||||||||||||||||
Gross | Offset on the | Net | Collateral | |||||||||||||||||||
Fair Value | Consolidated Balance Sheet | Fair Value | Pledged Under | |||||||||||||||||||
31-Dec-14 | Derivative | Fair Value | Cash | Derivative | Master Netting | Net | ||||||||||||||||
In millions | Liabilities | Offset Amount | Collateral | Liabilities | Agreements | Amounts | ||||||||||||||||
Derivative liabilities | ||||||||||||||||||||||
Interest rate contracts | $ | 3,272 | $ | 2,057 | $ | 483 | $ | 732 | $ | 732 | ||||||||||||
Foreign exchange contracts | 241 | 80 | 20 | 141 | 141 | |||||||||||||||||
Credit contracts | 4 | 4 | ||||||||||||||||||||
Other contracts | 510 | 510 | 510 | |||||||||||||||||||
Total derivative liabilities (a) (b) | $ | 4,027 | $ | 2,141 | $ | 503 | $ | 1,383 | (d) | $ | 1,383 | |||||||||||
(a) | There were no derivative assets or derivative liabilities equity contracts as of March 31, 2015 and December 31, 2014. | |||||||||||||||||||||
(b) | Included derivative assets and derivative liabilities as of March 31, 2015 totaling $1.2 billion and $1.0 billion, respectively, related to interest rate contracts executed bilaterally with counterparties in the U.S. over-the-counter market and novated to and cleared through a central clearing house. The comparable amounts as of December 31, 2014 totaled $807 million and $657 million, respectively. Derivative assets and liabilities as of March 31, 2015 and December 31, 2014 related to exchange-traded interest rate contracts were not material. As of March 31, 2015 and December 31, 2014, these contracts were not subject to offsetting. The remaining gross and net derivative assets and liabilities relate to contracts executed bilaterally with counterparties that are not settled through an organized exchange or central clearing house. | |||||||||||||||||||||
(c) | Represents the net amount of derivative assets included in Other assets on our Consolidated Balance Sheet. | |||||||||||||||||||||
(d) | Represents the net amount of derivative liabilities included in Other liabilities on our Consolidated Balance Sheet. | |||||||||||||||||||||
In addition to using master netting and related collateral agreements to reduce credit risk associated with derivative instruments, we also seek to manage credit risk by evaluating credit ratings of counterparties, by taking collateral and by using internal credit analysis, limits, and monitoring procedures. Collateral may also be exchanged under certain derivative agreements that are not considered master netting agreements. | ||||||||||||||||||||||
At March 31, 2015, we held cash, U.S. government securities and mortgage-backed securities totaling $943 million under master netting and other collateral agreements to collateralize net derivative assets due from counterparties, and we have pledged cash totaling $610 million under these agreements to collateralize net derivative liabilities owed to counterparties. These totals may differ from the amounts presented in the preceding offsetting table because they may include collateral exchanged under an agreement that does not qualify as a master netting agreement or because the total amount of collateral held or pledged exceeds the net derivative fair value with the counterparty as of the balance sheet date due to timing or other factors. To the extent not netted against the derivative fair value under a master netting agreement, the receivable for cash pledged is included in Other assets and the obligation for cash held is included in Other borrowed funds on our Consolidated Balance Sheet. Securities held from counterparties are not recognized on our balance sheet. Likewise securities we have pledged to counterparties remain on our balance sheet. | ||||||||||||||||||||||
Certain of the master netting agreements and certain other derivative agreements also contain provisions that require PNC’s debt to maintain an investment grade credit rating from each of the major credit rating agencies. If PNC’s debt ratings were to fall below investment grade, we would be in violation of these provisions and the counterparties to the derivative instruments could request immediate payment or demand immediate and ongoing full overnight collateralization on derivative instruments in net liability positions. The aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a net liability position on March 31, 2015 was $.8 billion for which PNC had posted collateral of $.6 billion in the normal course of business. The maximum additional amount of collateral PNC would have been required to post if the credit-risk-related contingent features underlying these agreements had been triggered on March 31, 2015 would be $.2 billion. |
Earnings_per_Share
Earnings per Share | 3 Months Ended | |||||||||
Mar. 31, 2015 | ||||||||||
Earnings per Share | ||||||||||
Earnings per Share | Note 12 Earnings Per Share | |||||||||
Table 107: Basic and Diluted Earnings per Common Share | ||||||||||
Three months ended March 31 | ||||||||||
In millions, except per share data | 2015 | 2014 | ||||||||
Basic | ||||||||||
Net income | $ | 1,004 | $ | 1,060 | ||||||
Less: | ||||||||||
Net income (loss) attributable to noncontrolling interests | 1 | -2 | ||||||||
Preferred stock dividends and discount accretion and redemptions | 70 | 70 | ||||||||
Net income attributable to common shares | 933 | 992 | ||||||||
Less: | ||||||||||
Dividends and undistributed earnings allocated to nonvested restricted shares | 2 | 3 | ||||||||
Net income attributable to basic common shares | $ | 931 | $ | 989 | ||||||
Basic weighted-average common shares outstanding | 521 | 532 | ||||||||
Basic earnings per common share (a) | $ | 1.79 | $ | 1.86 | ||||||
Diluted | ||||||||||
Net income attributable to basic common shares | $ | 931 | $ | 989 | ||||||
Less: Impact of BlackRock earnings per share dilution | 5 | 6 | ||||||||
Net income attributable to diluted common shares | $ | 926 | $ | 983 | ||||||
Basic weighted-average common shares outstanding | 521 | 532 | ||||||||
Dilutive potential common shares (b) (c) | 8 | 7 | ||||||||
Diluted weighted-average common shares outstanding | 529 | 539 | ||||||||
Diluted earnings per common share (a) | $ | 1.75 | $ | 1.82 | ||||||
(a) | Basic and diluted earnings per share under the two-class method are determined on net income reported on the income statement less earnings allocated to nonvested restricted shares (participating securities). | |||||||||
(b) | Excludes number of stock options considered to be anti-dilutive of 1 million for the three months ended March 31, 2014. No stock options were considered to be anti-dilutive for the three months ended March 31, 2015. | |||||||||
(c) | No warrants were considered to be anti-dilutive for the three months ended March 31, 2015 and March 31, 2014. |
Total_Equity_and_Other_Compreh
Total Equity and Other Comprehensive Income | 3 Months Ended | |||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||
Other Comprehensive Income [Abstract] | ||||||||||||||||||||||||||
Total Equity And Other Comprehensive Income Disclosure [Text Block] | Note 13 Total Equity And Other Comprehensive Income | |||||||||||||||||||||||||
Activity in total equity for the first three months of 2014 and 2015 follows. | ||||||||||||||||||||||||||
Table 108: Rollforward of Total Equity | ||||||||||||||||||||||||||
Shareholders' Equity | ||||||||||||||||||||||||||
Capital | Accumulated | |||||||||||||||||||||||||
Shares | Capital | Surplus - | Other | |||||||||||||||||||||||
Outstanding | Surplus - | Common | Comprehensive | Non- | ||||||||||||||||||||||
Common | Common | Preferred | Stock | Retained | Income | Treasury | controlling | Total | ||||||||||||||||||
In millions | Stock | Stock | Stock | and Other | Earnings | (Loss) | Stock | Interests | Equity | |||||||||||||||||
Balance at December 31, 2013 | 533 | $ | 2,698 | $ | 3,941 | $ | 12,416 | $ | 23,251 | $ | 436 | $ | -408 | $ | 1,703 | $ | 44,037 | |||||||||
Cumulative effect of adopting ASC 860-50 (a) | 2 | 2 | ||||||||||||||||||||||||
Balance at January 1, 2014 | 533 | $ | 2,698 | $ | 3,941 | $ | 12,416 | $ | 23,253 | $ | 436 | $ | -408 | $ | 1,703 | $ | 44,039 | |||||||||
Net income | 1,062 | -2 | 1,060 | |||||||||||||||||||||||
Other comprehensive income (loss), net of tax | 220 | 220 | ||||||||||||||||||||||||
Cash dividends declared | ||||||||||||||||||||||||||
Common ($.44 per share) | -235 | -235 | ||||||||||||||||||||||||
Preferred | -68 | -68 | ||||||||||||||||||||||||
Preferred stock discount accretion | 2 | -2 | ||||||||||||||||||||||||
Common stock activity (b) | 2 | 28 | 30 | |||||||||||||||||||||||
Treasury stock activity | 1 | 7 | 26 | 33 | ||||||||||||||||||||||
Other | -57 | -104 | -161 | |||||||||||||||||||||||
Balance at March 31, 2014 (c) | 534 | $ | 2,700 | $ | 3,943 | $ | 12,394 | $ | 24,010 | $ | 656 | $ | -382 | $ | 1,597 | $ | 44,918 | |||||||||
Balance at January 1, 2015 | 523 | $ | 2,705 | $ | 3,946 | $ | 12,627 | $ | 26,200 | $ | 503 | $ | -1,430 | $ | 1,523 | $ | 46,074 | |||||||||
Net income | 1,003 | 1 | 1,004 | |||||||||||||||||||||||
Other comprehensive income (loss), net of tax | 200 | 200 | ||||||||||||||||||||||||
Cash dividends declared | ||||||||||||||||||||||||||
Common ($.48 per share) | -251 | -251 | ||||||||||||||||||||||||
Preferred | -68 | -68 | ||||||||||||||||||||||||
Preferred stock discount accretion | 2 | -2 | ||||||||||||||||||||||||
Common stock activity (b) | 1 | 8 | 9 | |||||||||||||||||||||||
Treasury stock activity | -3 | -18 | -345 | -363 | ||||||||||||||||||||||
Other | -56 | -111 | -167 | |||||||||||||||||||||||
Balance at March 31, 2015 (c) | 520 | $ | 2,706 | $ | 3,948 | $ | 12,561 | $ | 26,882 | $ | 703 | $ | -1,775 | $ | 1,413 | $ | 46,438 | |||||||||
(a) | Amount represents the cumulative impact of our January 1, 2014 irrevocable election to prospectively measure all classes of commercial MSRs at fair value. See Note 1 Accounting Policies and Note 8 Goodwill and Other Intangible Assets for more information on this election in our Notes To Consolidated Financial Statements under Item 8 of our 2014 Form 10-K. | |||||||||||||||||||||||||
(b) | Common stock activity totaled less than .5 million shares issued. | |||||||||||||||||||||||||
(c) | The par value of our preferred stock outstanding was less than $.5 million at each date and, therefore, is excluded from this presentation. | |||||||||||||||||||||||||
Warrants | ||||||||||||||||||||||||||
We had 15,796,592 warrants outstanding as of March 31, 2015 compared to 16,885,192 as of December 31, 2014. The reduction was due to 1,088,600 warrants that were exercised during the first quarter of 2015. Each warrant entitles the holder to purchase one share of PNC common stock at an exercise price of $67.33 per share. In accordance with the terms of the warrants, the warrants are exercised on a non-cash net basis with the warrant holder receiving PNC common shares determined based on the excess of the market price of PNC common stock on the exercise date over the exercise price of the warrant. In the first quarter of 2015, we issued 316,897 common shares resulting from the exercise of the warrants. The issuance of these shares resulted in a reclassification within Capital surplus – Common stock and other with no impact on PNC’s Shareholder’s equity. The remaining outstanding warrants will expire as of December 31, 2018, and are considered in the calculation of diluted earnings per common share in Note 12 Earnings Per Share in this Report. | ||||||||||||||||||||||||||
Table 109: Other Comprehensive Income | ||||||||||||||||||||||||||
Details of other comprehensive income (loss) are as follows: | ||||||||||||||||||||||||||
In millions | Pretax | Tax | After-tax | |||||||||||||||||||||||
Net unrealized gains (losses) on non-OTTI securities | ||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | 647 | $ | -238 | $ | 409 | ||||||||||||||||||||
First Quarter 2014 activity | ||||||||||||||||||||||||||
Increase in net unrealized gains (losses) on non-OTTI securities | 201 | -74 | 127 | |||||||||||||||||||||||
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities | ||||||||||||||||||||||||||
interest income | 7 | -3 | 4 | |||||||||||||||||||||||
Less: Net gains (losses) realized on sales of securities reclassified to noninterest income | 5 | -2 | 3 | |||||||||||||||||||||||
Net unrealized gains (losses) on non-OTTI securities | 189 | -69 | 120 | |||||||||||||||||||||||
Balance at March 31, 2014 | 836 | -307 | 529 | |||||||||||||||||||||||
Balance at December 31, 2014 | 1,022 | -375 | 647 | |||||||||||||||||||||||
First Quarter 2015 activity | ||||||||||||||||||||||||||
Increase in net unrealized gains (losses) on non-OTTI securities | 132 | -49 | 83 | |||||||||||||||||||||||
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities | ||||||||||||||||||||||||||
interest income | 7 | -3 | 4 | |||||||||||||||||||||||
Less: Net gains (losses) realized on sales of securities reclassified to noninterest income | 51 | -19 | 32 | |||||||||||||||||||||||
Net unrealized gains (losses) on non-OTTI securities | 74 | -27 | 47 | |||||||||||||||||||||||
Balance at March 31, 2015 | $ | 1,096 | $ | -402 | $ | 694 | ||||||||||||||||||||
Net unrealized gains (losses) on OTTI securities | ||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | 36 | $ | -12 | $ | 24 | ||||||||||||||||||||
First Quarter 2014 activity | ||||||||||||||||||||||||||
Increase in net unrealized gains (losses) on OTTI securities | 64 | -24 | 40 | |||||||||||||||||||||||
Less: OTTI losses realized on securities reclassified to noninterest income | -2 | 1 | -1 | |||||||||||||||||||||||
Net unrealized gains (losses) on OTTI securities | 66 | -25 | 41 | |||||||||||||||||||||||
Balance at March 31, 2014 | 102 | -37 | 65 | |||||||||||||||||||||||
Balance at December 31, 2014 | 115 | -41 | 74 | |||||||||||||||||||||||
First Quarter 2015 activity | ||||||||||||||||||||||||||
Increase in net unrealized gains (losses) on OTTI securities | 2 | -1 | 1 | |||||||||||||||||||||||
Less: OTTI losses realized on securities reclassified to noninterest income | -1 | -1 | ||||||||||||||||||||||||
Net unrealized gains (losses) on OTTI securities | 3 | -1 | 2 | |||||||||||||||||||||||
Balance at March 31, 2015 | $ | 118 | $ | -42 | $ | 76 | ||||||||||||||||||||
Net unrealized gains (losses) on cash flow hedge derivatives | ||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | 384 | $ | -141 | $ | 243 | ||||||||||||||||||||
First Quarter 2014 activity | ||||||||||||||||||||||||||
Increase in net unrealized gains (losses) on cash flow hedge derivatives | 72 | -26 | 46 | |||||||||||||||||||||||
Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income (a) | 69 | -25 | 44 | |||||||||||||||||||||||
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities | ||||||||||||||||||||||||||
interest income (a) | 3 | -1 | 2 | |||||||||||||||||||||||
Less: Net gains (losses) realized on sales of securities reclassified to noninterest income (a) | 5 | -2 | 3 | |||||||||||||||||||||||
Net unrealized gains (losses) on cash flow hedge derivatives | -5 | 2 | -3 | |||||||||||||||||||||||
Balance at March 31, 2014 | 379 | -139 | 240 | |||||||||||||||||||||||
Balance at December 31, 2014 | 552 | -202 | 350 | |||||||||||||||||||||||
First Quarter 2015 activity | ||||||||||||||||||||||||||
Increase in net unrealized gains (losses) on cash flow hedge derivatives | 298 | -110 | 188 | |||||||||||||||||||||||
Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income (a) | 64 | -23 | 41 | |||||||||||||||||||||||
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities | ||||||||||||||||||||||||||
interest income (a) | 4 | -2 | 2 | |||||||||||||||||||||||
Less: Net gains (losses) realized on sales of securities reclassified to noninterest income (a) | -9 | 3 | -6 | |||||||||||||||||||||||
Net unrealized gains (losses) on cash flow hedge derivatives | 239 | -88 | 151 | |||||||||||||||||||||||
Balance at March 31, 2015 | $ | 791 | $ | -290 | $ | 501 | ||||||||||||||||||||
In millions | Pretax | Tax | After-tax | |||||||||||||||||||||||
Pension and other postretirement benefit plan adjustments | ||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | -374 | $ | 137 | $ | -237 | ||||||||||||||||||||
First Quarter 2014 activity | ||||||||||||||||||||||||||
Net pension and other postretirement benefit plan activity | 83 | -31 | 52 | |||||||||||||||||||||||
Amortization of actuarial loss (gain) reclassified to other noninterest expense | 1 | 1 | ||||||||||||||||||||||||
Amortization of prior service cost (credit) reclassified to other noninterest expense | -2 | 1 | -1 | |||||||||||||||||||||||
Total First Quarter 2014 activity | 82 | -30 | 52 | |||||||||||||||||||||||
Balance at March 31, 2014 | -292 | 107 | -185 | |||||||||||||||||||||||
Balance at December 31, 2014 | -820 | 300 | -520 | |||||||||||||||||||||||
First Quarter 2015 activity | ||||||||||||||||||||||||||
Net pension and other postretirement benefit plan activity | 53 | -20 | 33 | |||||||||||||||||||||||
Amortization of actuarial loss (gain) reclassified to other noninterest expense | 9 | -3 | 6 | |||||||||||||||||||||||
Amortization of prior service cost (credit) reclassified to other noninterest expense | -2 | 1 | -1 | |||||||||||||||||||||||
Total First Quarter 2015 activity | 60 | -22 | 38 | |||||||||||||||||||||||
Balance at March 31, 2015 | $ | -760 | $ | 278 | $ | -482 | ||||||||||||||||||||
Other | ||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | -20 | $ | 17 | $ | -3 | ||||||||||||||||||||
First Quarter 2014 Activity | ||||||||||||||||||||||||||
PNC's portion of BlackRock's OCI | 11 | -4 | 7 | |||||||||||||||||||||||
Net investment hedge derivatives (b) | -7 | 3 | -4 | |||||||||||||||||||||||
Foreign currency translation adjustments (c) | 7 | 7 | ||||||||||||||||||||||||
Total First Quarter 2014 activity | 11 | -1 | 10 | |||||||||||||||||||||||
Balance at March 31, 2014 | -9 | 16 | 7 | |||||||||||||||||||||||
Balance at December 31, 2014 | -59 | 11 | -48 | |||||||||||||||||||||||
First Quarter 2015 Activity | ||||||||||||||||||||||||||
PNC's portion of BlackRock's OCI | -25 | 9 | -16 | |||||||||||||||||||||||
Net investment hedge derivatives (b) | 54 | -20 | 34 | |||||||||||||||||||||||
Foreign currency translation adjustments (c) | -56 | -56 | ||||||||||||||||||||||||
Total First Quarter 2015 activity | -27 | -11 | -38 | |||||||||||||||||||||||
Balance at March 31, 2015 | $ | -86 | $ | $ | -86 | |||||||||||||||||||||
(a) | Cash flow hedge derivatives are interest rate contract derivatives designated as hedging instruments under GAAP. | |||||||||||||||||||||||||
(b) | Net investment hedge derivatives are foreign exchange contracts designated as hedging instruments under GAAP. | |||||||||||||||||||||||||
(c) | The earnings of PNC's Luxembourg-UK lending business have been indefinitely reinvested; thereafter, no U.S. deferred income tax has been recorded on the foreign currency translation of the investment. | |||||||||||||||||||||||||
Table 110: Accumulated Other Comprehensive Income (Loss) Components | ||||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||||||
In millions | Pretax | After-tax | Pretax | After-tax | ||||||||||||||||||||||
Net unrealized gains (losses) on non-OTTI securities | $ | 1,096 | $ | 694 | $ | 1,022 | $ | 647 | ||||||||||||||||||
Net unrealized gains (losses) on OTTI securities | 118 | 76 | 115 | 74 | ||||||||||||||||||||||
Net unrealized gains (losses) on cash flow hedge derivatives | 791 | 501 | 552 | 350 | ||||||||||||||||||||||
Pension and other postretirement benefit plan adjustments | -760 | -482 | -820 | -520 | ||||||||||||||||||||||
Other | -86 | -86 | -59 | -48 | ||||||||||||||||||||||
Accumulated other comprehensive income (loss) | $ | 1,159 | $ | 703 | $ | 810 | $ | 503 | ||||||||||||||||||
Income_Taxes
Income Taxes | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Income Taxes [Abstract] | |||||||||
Income Taxes | Note 14 Income Taxes | ||||||||
Table 111: Net Operating Loss Carryforwards and Tax Credit Carryforwards | |||||||||
31-Mar | 31-Dec | ||||||||
In millions | 2015 | 2014 | |||||||
Net Operating Loss Carryforwards: | |||||||||
Federal | $ | 977 | $ | 997 | |||||
State | $ | 2,536 | $ | 2,594 | |||||
Tax Credit Carryforwards: | |||||||||
Federal | $ | 35 | $ | 35 | |||||
State | $ | 7 | $ | 7 | |||||
The federal net operating loss carryforwards expire in 2032. The state net operating loss carryforwards will expire from 2015 to 2031. The majority of the tax credit carryforwards expire in 2032. All federal and most state net operating loss and credit carryforwards are from acquired entities and utilization is subject to various statutory limitations. It is anticipated that the company will be able to fully utilize its carryforwards for federal tax purposes, but a valuation allowance of $65 million has been recorded against certain state tax carryforwards as of March 31, 2015. If select uncertain tax positions were successfully challenged by a state, the state net operating losses listed above could be reduced by $60 million. | |||||||||
The Internal Revenue Service (IRS) is currently examining PNC's 2011 through 2013 returns. National City's consolidated federal income tax returns through 2008 have been audited by the IRS. Certain adjustments remain under review by the IRS Appeals Division for years 2004 through 2008. | |||||||||
The Company had unrecognized tax benefits of $83 million at March 31, 2015 and $77 million at December 31, 2014. At March 31, 2015, $68 million of unrecognized tax benefits, if recognized, would favorably impact the effective income tax rate. | |||||||||
It is reasonably possible that the balance of unrecognized tax benefits could increase or decrease in the next twelve months due to completion of tax authorities’ exams or the expiration of statutes of limitations. Management estimates that the balance of unrecognized tax benefits could decrease by $58 million within the next twelve months. | |||||||||
During the three months ended March 31, 2015, we recognized $51 million of amortization, $55 million of tax credits, and $19 million of other tax benefits associated with qualified investments in low income housing tax credits within Income taxes. | |||||||||
Legal_Proceedings
Legal Proceedings | 3 Months Ended |
Mar. 31, 2015 | |
Legal Proceedings [Abstract] | |
Legal Proceedings | Note 15 Legal Proceedings |
We establish accruals for legal proceedings, including litigation and regulatory and governmental investigations and inquiries, when information related to the loss contingencies represented by those matters indicates both that a loss is probable and that the amount of loss can be reasonably estimated. Any such accruals are adjusted thereafter as appropriate to reflect changed circumstances. When we are able to do so, we also determine estimates of possible losses or ranges of possible losses, whether in excess of any related accrued liability or where there is no accrued liability, for disclosed legal proceedings (“Disclosed Matters,” which are those matters disclosed in this Note 15 as well as those matters disclosed in Note 21 Legal Proceedings in Part II, Item 8 of our 2014 Form 10-K (such prior disclosure referred to as “Prior Disclosure”)). For Disclosed Matters where we are able to estimate such possible losses or ranges of possible losses, as of March 31, 2015, we estimate that it is reasonably possible that we could incur losses in an aggregate amount of up to approximately $725 million. The estimates included in this amount are based on our analysis of currently available information and are subject to significant judgment and a variety of assumptions and uncertainties. As new information is obtained we may change our estimates. Due to the inherent subjectivity of the assessments and unpredictability of outcomes of legal proceedings, any amounts accrued or included in this aggregate amount may not represent the ultimate loss to us from the legal proceedings in question. Thus, our exposure and ultimate losses may be higher, and possibly significantly so, than the amounts accrued or this aggregate amount. | |
In our experience, legal proceedings are inherently unpredictable. One or more of the following factors frequently contribute to this inherent unpredictability: the proceeding is in its early stages; the damages sought are unspecified, unsupported or uncertain; it is unclear whether a case brought as a class action will be allowed to proceed on that basis or, if permitted to proceed as a class action, how the class will be defined; the other party is seeking relief other than or in addition to compensatory damages (including, in the case of regulatory and governmental investigations and inquiries, the possibility of fines and penalties); the matter presents meaningful legal uncertainties, including novel issues of law; we have not engaged in meaningful settlement discussions; discovery has not started or is not complete; there are significant facts in dispute; the possible outcomes may not be amenable to the use of statistical or quantitative analytical tools; predicting possible outcomes depends on making assumptions about future decisions of courts or regulatory bodies or the behavior of other parties; and there are a large number of parties named as defendants (including where it is uncertain how damages or liability, if any, will be shared among multiple defendants). Generally, the less progress that has been made in the proceedings or the broader the range of potential results, the harder it is for us to estimate losses or ranges of losses that it is reasonably possible we could incur. | |
As a result of these types of factors, we are unable, at this time, to estimate the losses that it is reasonably possible that we could incur or ranges of such losses with respect to some of the matters disclosed, and the aggregate estimated amount provided above does not include an estimate for every Disclosed Matter. Therefore, as the estimated aggregate amount disclosed above does not include all of the Disclosed Matters, the amount disclosed above does not represent our maximum reasonably possible loss exposure for all of the Disclosed Matters. The estimated aggregate amount also does not reflect any of our exposure to matters not so disclosed, as discussed below under “Other.” | |
We include in some of the descriptions of individual Disclosed Matters certain quantitative information related to the plaintiff’s claim against us as alleged in the plaintiff’s pleadings or other public filings or otherwise publicly available information. While information of this type may provide insight into the potential magnitude of a matter, it does not necessarily represent our estimate of reasonably possible loss or our judgment as to any currently appropriate accrual. | |
Some of our exposure in Disclosed Matters may be offset by applicable insurance coverage. We do not consider the possible availability of insurance coverage in determining the amounts of any accruals (although we record the amount of related insurance recoveries that are deemed probable up to the amount of the accrual) or in determining any estimates of possible losses or ranges of possible losses. | |
Captive Mortgage Reinsurance Litigation | |
In March 2015, the parties in White, et al. v. The PNC Financial Services Group, Inc., et al. (Civil Action No. 11-7928), pending in the United States District Court for the Eastern District of Pennsylvania, stipulated to, and the court ordered, a stay of all proceedings pending the outcome of another matter currently on appeal before the United States Court of Appeals for the Third Circuit that involves overlapping issues. | |
Lender Placed Insurance Litigation | |
In March 2015, in Montoya vs. PNC Bank, N.A., et al. (Case No.14-cv-20474-JG), the United States District Court for the Southern District of Florida denied PNC’s motion to dismiss, except that it granted the motion as to the Ohio good faith and fair dealing claim. | |
Mortgage Repurchase Litigation | |
In January 2015, the lawsuit pending in the United States District Court for the District of Minnesota under the caption Residential Funding Company, LLC v. PNC Bank, N.A., et al. (Civil No. 13-3498- JRT-JSM) was consolidated for pre-trial purposes with other lawsuits pending in the District of Minnesota filed by Residential Funding Company, LLC against other originators of mortgage loans that it had purchased. The consolidated action is captioned In Re: RFC and RESCAP Liquidating Trust Litigation, Civil File No. 13-cv-3451 (SRN/JJK/HB). | |
Pre-need Funeral Arrangements | |
In March 2015, in the case pending in the United States District Court for the Eastern District of Missouri under the caption Jo Ann Howard, P.C., et al. v. Cassity, et al. (No. 4:09-CV-1252-ERW), the court, after a jury trial, entered a judgment against National City Bank and PNC Bank (the PNC defendants) in the amount of $355.5 million in compensatory damages and $35.6 million in punitive damages. In April 2015, the plaintiffs filed motions with the court seeking $178.8 million in pre-judgment interest. Also, in April 2015, the PNC defendants filed motions with the court to reduce the compensatory damages by the amounts paid in settlement by other defendants, to strike the punitive damages award, for judgment as a matter of law, and for a new trial. If the PNC defendants do not obtain sufficient relief through these motions, they intend to appeal the judgment to the U.S. Court of Appeals for the Eighth Circuit. | |
Other Regulatory and Governmental Inquiries | |
PNC is the subject of investigations, audits and other forms of regulatory and governmental inquiry covering a broad range of issues in our banking, securities and other financial services businesses, in some cases as part of reviews of specified activities at multiple industry participants. Over the last few years, we have experienced an increase in regulatory and governmental investigations, audits and other inquiries. Areas of current regulatory or governmental inquiry with respect to PNC include consumer protection, fair lending, mortgage origination and servicing, mortgage and non mortgage-related insurance and reinsurance, municipal finance activities, conduct by broker-dealers, automobile lending practices, and participation in government insurance or guarantee programs, some of which are described in Prior Disclosure. These inquiries, including those described in Prior Disclosure, may lead to administrative, civil or criminal proceedings, and possibly result in remedies including fines, penalties, restitution, or alterations in our business practices, and in additional expenses and collateral costs. | |
Our practice is to cooperate fully with regulatory and governmental investigations, audits and other inquiries, including those described in Prior Disclosure. | |
Other | |
In addition to the proceedings or other matters described above and in Prior Disclosure, PNC and persons to whom we may have indemnification obligations, in the normal course of business, are subject to various other pending and threatened legal proceedings in which claims for monetary damages and other relief are asserted. We do not anticipate, at the present time, that the ultimate aggregate liability, if any, arising out of such other legal proceedings will have a material adverse effect on our financial position. However, we cannot now determine whether or not any claims asserted against us or others to whom we may have indemnification obligations, whether in the proceedings or other matters described above or otherwise, will have a material adverse effect on our results of operations in any future reporting period, which will depend on, among other things, the amount of the loss resulting from the claim and the amount of income otherwise reported for the reporting period. | |
See Note 16 Commitments and Guarantees for additional information regarding the Visa indemnification and our other obligations to provide indemnification, including to current and former officers, directors, employees and agents of PNC and companies we have acquired. | |
Commitments_and_Guarantees
Commitments and Guarantees | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Commitments and Guarantees [Abstract] | |||||||||||||||||||||
Commitments and Guarantees | Note 16 Commitments and Guarantees | ||||||||||||||||||||
Commitments | |||||||||||||||||||||
In the normal course of business, we have various commitments outstanding, certain of which are not included on our Consolidated Balance Sheet. The following table presents our outstanding commitments to extend credit along with significant other commitments as of March 31, 2015 and December 31, 2014, respectively. | |||||||||||||||||||||
Table 112: Commitments to Extend Credit and Other Commitments | |||||||||||||||||||||
31-Mar | 31-Dec | ||||||||||||||||||||
In millions | 2015 | 2014 | |||||||||||||||||||
Commitments to extend credit | |||||||||||||||||||||
Total commercial lending | $ | 96,866 | $ | 99,837 | |||||||||||||||||
Home equity lines of credit | 17,784 | 17,839 | |||||||||||||||||||
Credit card | 18,539 | 17,833 | |||||||||||||||||||
Other | 4,771 | 4,178 | |||||||||||||||||||
Total commitments to extend credit | 137,960 | 139,687 | |||||||||||||||||||
Net outstanding standby letters of credit (a) | 9,750 | 9,991 | |||||||||||||||||||
Reinsurance agreements | 2,428 | 4,297 | |||||||||||||||||||
Standby bond purchase agreements (b) | 1,080 | 1,095 | |||||||||||||||||||
Other commitments related to equity investments (c) | 970 | 962 | |||||||||||||||||||
Total commitments to extend credit and other commitments | $ | 152,188 | $ | 156,032 | |||||||||||||||||
(a) | Net outstanding standby letters of credit include $5.4 billion and $5.2 billion which support remarketing programs at March 31, 2015 and December 31, 2014, respectively. | ||||||||||||||||||||
(b) | We enter into standby bond purchase agreements to support municipal bond obligations. | ||||||||||||||||||||
(c) | Includes $411 million and $441 million related to investments in qualified affordable housing projects at March 31, 2015 and December 31, 2014, respectively. | ||||||||||||||||||||
Commitments to Extend Credit | |||||||||||||||||||||
Commitments to extend credit, or net unfunded loan commitments, represent arrangements to lend funds or provide liquidity subject to specified contractual conditions. These commitments generally have fixed expiration dates, may require payment of a fee, and contain termination clauses in the event the customer’s credit quality deteriorates. Based on our historical experience, some commitments expire unfunded, and therefore cash requirements are substantially less than the total commitment. | |||||||||||||||||||||
Net Outstanding Standby Letters of Credit | |||||||||||||||||||||
We issue standby letters of credit and share in the risk of standby letters of credit issued by other financial institutions, in each case to support obligations of our customers to third parties, such as insurance requirements and the facilitation of transactions involving capital markets product execution. Internal credit ratings related to our net outstanding standby letters of credit were as follows: | |||||||||||||||||||||
Table 113: Internal Credit Ratings Related to Net Outstanding Standby Letters of Credit | |||||||||||||||||||||
31-Mar | 31-Dec | ||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||
Internal credit ratings (as a percentage of portfolio): | |||||||||||||||||||||
Pass (a) | 95 | % | 95 | % | |||||||||||||||||
Below pass (b) | 5 | % | 5 | % | |||||||||||||||||
(a) | Indicates that expected risk of loss is currently low. | ||||||||||||||||||||
(b) | Indicates a higher degree of risk of default. | ||||||||||||||||||||
If the customer fails to meet its financial or performance obligation to the third party under the terms of the contract or there is a need to support a remarketing program, then upon a draw by a beneficiary, subject to the terms of the letter of credit, we would be obligated to make payment to them. The standby letters of credit outstanding on March 31, 2015 had terms ranging from less than 1 year to 8 years. | |||||||||||||||||||||
As of March 31, 2015, assets of $989 million secured certain specifically identified standby letters of credit. In addition, a portion of the remaining standby letters of credit issued on behalf of specific customers is also secured by collateral or guarantees that secure the customers’ other obligations to us. The carrying amount of the liability for our obligations related to standby letters of credit and participations in standby letters of credit was $180 million at March 31, 2015 and is included in Other liabilities on our Consolidated Balance Sheet. | |||||||||||||||||||||
Reinsurance Agreements | |||||||||||||||||||||
We have a wholly-owned captive insurance subsidiary which provides reinsurance for accidental death & dismemberment, credit life, accident & health and lender placed hazard, all of which are in run-off. Aggregate maximum exposure up to the specified limits for all reinsurance contracts is as follows: | |||||||||||||||||||||
Table 114: Reinsurance Agreements Exposure (a) (b) | |||||||||||||||||||||
31-Mar | 31-Dec | ||||||||||||||||||||
In millions | 2015 | 2014 | |||||||||||||||||||
Accidental Death & Dismemberment | $ | 1,740 | $ | 1,774 | |||||||||||||||||
Credit Life, Accident & Health | 441 | 467 | |||||||||||||||||||
Lender Placed Hazard (c) (d) | 247 | 2,056 | |||||||||||||||||||
Maximum Exposure (e) | $ | 2,428 | $ | 4,297 | |||||||||||||||||
Maximum Exposure to Quota Share Agreements with 100% Reinsurance | $ | 440 | $ | 466 | |||||||||||||||||
(a) | Reinsurance agreements exposure balances represent estimates based on availability of financial information from insurance carriers. | ||||||||||||||||||||
(b) | All programs are in run-off for coverage issued. | ||||||||||||||||||||
(c) | Through the purchase of catastrophe reinsurance connected to the Lender Placed Hazard Exposure, should a catastrophic event occur, PNC will benefit from this reinsurance. No credit for the catastrophe reinsurance protection is applied to the aggregate exposure figure. | ||||||||||||||||||||
(d) | Program was placed into run-off for coverage issued or renewed on or after June 1, 2014 with policy terms one year or less. | ||||||||||||||||||||
(e) | The Borrower and Lender Paid Mortgage Insurance program was placed into run-off. Most of these policies carry no liability to PNC, and due to immateriality this program is no longer included in the maximum exposure amount. | ||||||||||||||||||||
A rollforward of the reinsurance reserves for probable losses for the first three months of 2015 and 2014 follows: | |||||||||||||||||||||
Table 115: Reinsurance Reserves - Rollforward | |||||||||||||||||||||
In millions | 2015 | 2014 | |||||||||||||||||||
1-Jan | $ | 13 | $ | 32 | |||||||||||||||||
Paid Losses | -3 | -7 | |||||||||||||||||||
Net Provision | 3 | 3 | |||||||||||||||||||
31-Mar | $ | 13 | $ | 28 | |||||||||||||||||
The reinsurance reserves are declining as the programs are in run-off. There were no other changes to existing agreements nor did we enter into any new relationships. | |||||||||||||||||||||
There is a reasonable possibility that losses could be more than or less than the amount reserved due to ongoing uncertainty in various economic, social and other factors that could impact the frequency and severity of claims covered by these reinsurance agreements. At March 31, 2015, the reasonably possible loss above our accrual was not material. | |||||||||||||||||||||
Indemnifications | |||||||||||||||||||||
We are a party to numerous acquisition or divestiture agreements under which we have purchased or sold, or agreed to purchase or sell, various types of assets. These agreements can cover the purchase or sale of entire businesses, loan portfolios, branch banks, partial interests in companies, or other types of assets. | |||||||||||||||||||||
These agreements generally include indemnification provisions under which we indemnify the third parties to these agreements against a variety of risks to the indemnified parties as a result of the transaction in question. When PNC is the seller, the indemnification provisions will generally also provide the buyer with protection relating to the quality of the assets we are selling and the extent of any liabilities being assumed by the buyer. Due to the nature of these indemnification provisions, we cannot quantify the total potential exposure to us resulting from them. | |||||||||||||||||||||
We provide indemnification in connection with securities offering transactions in which we are involved. When we are the issuer of the securities, we provide indemnification to the underwriters or placement agents analogous to the indemnification provided to the purchasers of businesses from us, as described above. When we are an underwriter or placement agent, we provide a limited indemnification to the issuer related to our actions in connection with the offering and, if there are other underwriters, indemnification to the other underwriters intended to result in an appropriate sharing of the risk of participating in the offering. Due to the nature of these indemnification provisions, we cannot quantify the total potential exposure to us resulting from them. | |||||||||||||||||||||
In the ordinary course of business, we enter into certain types of agreements that include provisions for indemnifying third parties. We also enter into certain types of agreements, including leases, assignments of leases, and subleases, in which we agree to indemnify third parties for acts by our agents, assignees and/or sublessees, and employees. We also enter into contracts for the delivery of technology service in which we indemnify the other party against claims of patent and copyright infringement by third parties. Due to the nature of these indemnification provisions, we cannot calculate our aggregate potential exposure under them. | |||||||||||||||||||||
In the ordinary course of business, we enter into contracts with third parties under which the third parties provide services on behalf of PNC. In many of these contracts, we agree to indemnify the third party service provider under certain circumstances. The terms of the indemnity vary from contract to contract and the amount of the indemnification liability, if any, cannot be determined. | |||||||||||||||||||||
We are a general or limited partner in certain asset management and investment limited partnerships, many of which contain indemnification provisions that would require us to make payments in excess of our remaining unfunded commitments. While in certain of these partnerships the maximum liability to us is limited to the sum of our unfunded commitments and partnership distributions received by us, in the others the indemnification liability is unlimited. As a result, we cannot determine our aggregate potential exposure for these indemnifications. | |||||||||||||||||||||
In some cases, indemnification obligations of the types described above arise under arrangements entered into by predecessor companies for which we become responsible as a result of the acquisition. | |||||||||||||||||||||
Pursuant to their bylaws, PNC and its subsidiaries provide indemnification to directors, officers and, in some cases, employees and agents against certain liabilities incurred as a result of their service on behalf of or at the request of PNC and its subsidiaries. PNC and its subsidiaries also advance on behalf of covered individuals costs incurred in connection with certain claims or proceedings, subject to written undertakings by each such individual to repay all amounts advanced if it is ultimately determined that the individual is not entitled to indemnification. We generally are responsible for similar indemnifications and advancement obligations that companies we acquire had to their officers, directors and sometimes employees and agents at the time of acquisition. We advanced such costs on behalf of several such individuals with respect to pending litigation or investigations during 2015. It is not possible for us to determine the aggregate potential exposure resulting from the obligation to provide this indemnity or to advance such costs. | |||||||||||||||||||||
Visa Indemnification | |||||||||||||||||||||
Our payment services business issues and acquires credit and debit card transactions through Visa U.S.A. Inc. card association or its affiliates (Visa). For additional information on our Visa indemnification and the related interchange litigation see Note 21 Legal Proceedings and Note 22 Commitments and Guarantees in the Notes To Consolidated Financial Statements in Item 8 of our 2014 Form 10-K. | |||||||||||||||||||||
Recourse and Repurchase Obligations | |||||||||||||||||||||
As discussed in Note 2 Loan Sale and Servicing Activities and Variable Interest Entities, PNC has sold commercial mortgage, residential mortgage and home equity loans/lines of credit directly or indirectly through securitization and loan sale transactions in which we have continuing involvement. One form of continuing involvement includes certain recourse and loan repurchase obligations associated with the transferred assets. | |||||||||||||||||||||
Commercial Mortgage Loan Recourse Obligations | |||||||||||||||||||||
We originate and service certain multi-family commercial mortgage loans which are sold to FNMA under FNMA’s Delegated Underwriting and Servicing (DUS) program. We participated in a similar program with the FHLMC. | |||||||||||||||||||||
Under these programs, we generally assume up to a one-third pari passu risk of loss on unpaid principal balances through a loss share arrangement. At March 31, 2015 and December 31, 2014, the unpaid principal balance outstanding of loans sold as a participant in these programs was $12.6 billion and $12.3 billion, respectively. The potential maximum exposure under the loss share arrangements was $3.8 billion at March 31, 2015 and $3.7 billion at December 31, 2014. | |||||||||||||||||||||
We maintain a reserve for estimated losses based upon our exposure. The reserve for losses under these programs totaled $38 million and $33 million as of March 31, 2015 and March 31, 2014, respectively, and is included in Other liabilities on our Consolidated Balance Sheet. | |||||||||||||||||||||
If payment is required under these programs, we would not have a contractual interest in the collateral underlying the mortgage loans on which losses occurred, although the value of the collateral is taken into account in determining our share of such losses. Our exposure and activity associated with these recourse obligations are reported in the Corporate & Institutional Banking segment. | |||||||||||||||||||||
Table 116: Analysis of Commercial Mortgage Recourse Obligations | |||||||||||||||||||||
In millions | 2015 | 2014 | |||||||||||||||||||
1-Jan | $ | 35 | $ | 33 | |||||||||||||||||
Reserve adjustments, net | 3 | ||||||||||||||||||||
31-Mar | $ | 38 | $ | 33 | |||||||||||||||||
Residential Mortgage Loan and Home Equity Loan/ Line of Credit Repurchase Obligations | |||||||||||||||||||||
While residential mortgage loans are sold on a non-recourse basis, we assume certain loan repurchase obligations associated with mortgage loans we have sold to investors. These loan repurchase obligations primarily relate to situations where PNC is alleged to have breached certain origination covenants and representations and warranties made to purchasers of the loans in the respective purchase and sale agreements. Repurchase obligation activity associated with residential mortgages is reported in the Residential Mortgage Banking segment. | |||||||||||||||||||||
PNC’s repurchase obligations also include certain brokered home equity loans/lines of credit that were sold to a limited number of private investors in the financial services industry by National City prior to our acquisition of National City. PNC is no longer engaged in the brokered home equity lending business, and our exposure under these loan repurchase obligations is limited to repurchases of loans sold in these transactions. Repurchase activity associated with brokered home equity loans/lines of credit is reported in the Non-Strategic Assets Portfolio segment. | |||||||||||||||||||||
Indemnification and repurchase liabilities are initially recognized when loans are sold to investors and are subsequently evaluated by management. Initial recognition and subsequent adjustments to the indemnification and repurchase liability for the sold residential mortgage portfolio are recognized in Residential mortgage revenue on the Consolidated Income Statement. Since PNC is no longer engaged in the brokered home equity lending business, only subsequent adjustments are recognized to the home equity loans/lines indemnification and repurchase liability. These adjustments are recognized in Other noninterest income on the Consolidated Income Statement. | |||||||||||||||||||||
Management’s subsequent evaluation of these indemnification and repurchase liabilities is based upon trends in indemnification and repurchase requests, actual loss experience, risks in the underlying serviced loan portfolios, and current economic conditions. As part of its evaluation, management considers estimated loss projections over the life of the subject loan portfolio. At March 31, 2015 and March 31, 2014, the total indemnification and repurchase liability for estimated losses on indemnification and repurchase claims totaled $134 million and $122 million, respectively, and was included in Other liabilities on the Consolidated Balance Sheet. An analysis of the changes in this liability during 2015 and 2014 follows: | |||||||||||||||||||||
Table 117: Analysis of Indemnification and Repurchase Liability for Asserted Claims and Unasserted Claims | |||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||
Home | Home | ||||||||||||||||||||
Equity | Equity | ||||||||||||||||||||
Residential | Loans/ | Residential | Loans/ | ||||||||||||||||||
In millions | Mortgages (a) | Lines (b) | Total | Mortgages (a) | Lines (b)(c) | Total | |||||||||||||||
1-Jan | $ | 107 | $ | 29 | $ | 136 | $ | 131 | $ | 22 | $ | 153 | |||||||||
Reserve adjustments, net | 1 | 1 | -19 | 3 | -16 | ||||||||||||||||
Losses - loan repurchases and private investor settlements | -2 | -1 | -3 | -9 | -6 | -15 | |||||||||||||||
31-Mar | $ | 106 | $ | 28 | $ | 134 | $ | 103 | $ | 19 | $ | 122 | |||||||||
(a) | The unpaid principal balance of loans associated with our exposure to repurchase obligations totaled $67.6 billion and $70.5 billion at March 31, 2015 and March 31, 2014, respectively. | ||||||||||||||||||||
(b) | Repurchase obligation was associated with sold loan portfolios of $2.4 billion and $2.8 billion at March 31, 2015 and March 31, 2014, respectively. PNC is no longer engaged in the brokered home equity lending business, which was acquired with National City. | ||||||||||||||||||||
(c) | In prior periods, the unpaid principal balance of loans serviced for home equity loans/lines of credit in (b) above reflected the outstanding balance at the time of charge-off. During the second quarter of 2014, we corrected the outstanding principal balance to reflect the unpaid principal balance as of the reporting date. Accordingly, the prior period amount as of March 31, 2014 was reduced by $.8 billion. | ||||||||||||||||||||
Management believes the indemnification and repurchase liabilities appropriately reflect the estimated probable losses on indemnification and repurchase claims for all loans sold and outstanding as of March 31, 2015. In making these estimates, we consider the losses that we expect to incur over the life of the sold loans. While management seeks to obtain all relevant information in estimating the indemnification and repurchase liability, the estimation process is inherently uncertain and imprecise and, accordingly, it is reasonably possible that future indemnification and repurchase losses could be more or less than our established liability. Factors that could affect our estimate include the volume of valid claims driven by investor strategies and behavior, our ability to successfully negotiate claims with investors, housing prices and other economic conditions. At March 31, 2015, we estimate that it is reasonably possible that we could incur additional losses in excess of our accrued indemnification and repurchase liability of up to approximately $94 million for our portfolio of residential mortgage loans sold. At March 31, 2015, the reasonably possible loss above our accrual for our portfolio of home equity loans/lines of credit sold was not material. This estimate of potential additional losses in excess of our liability is based on assumed higher repurchase claims and lower claim rescissions than our current assumptions. | |||||||||||||||||||||
Resale and Repurchase Agreements | |||||||||||||||||||||
We enter into repurchase and resale agreements where we transfer investment securities to/from a third party with the agreement to repurchase/resell those investment securities at a future date for a specified price. Repurchase and resale agreements are treated as collateralized financing transactions for accounting purposes and are generally carried at the amounts at which the securities will be subsequently reacquired or resold, including accrued interest. Our policy is to take possession of securities purchased under agreements to resell. We monitor the market value of securities to be repurchased and resold and additional collateral may be obtained where considered appropriate to protect against credit exposure. | |||||||||||||||||||||
Repurchase and resale agreements are typically entered into with counterparties under industry standard master netting agreements which provide for the right to setoff amounts owed to one another with respect to multiple repurchase and resale agreements under such master netting agreement (referred to as netting arrangements) and liquidate the purchased or borrowed securities in the event of counterparty default. In order for an arrangement to be eligible for netting under GAAP, we must obtain the requisite assurance that the offsetting rights included in the master netting agreement would be legally enforceable in the event of bankruptcy, insolvency, or a similar proceeding of such third party. Enforceability is evidenced by obtaining a legal opinion that supports, with sufficient confidence, the enforceability of the master netting agreement in bankruptcy. | |||||||||||||||||||||
Table 118 shows the amounts owed under resale and repurchase agreements and the securities collateral associated with those agreements where a legal opinion supporting the enforceability of the offsetting rights has been obtained. We do not present resale and repurchase agreements entered into with the same counterparty under a legally enforceable master netting agreement on a net basis on our Consolidated Balance Sheet or within Table 118. The amounts reported in Table 118 exclude the fair value adjustment on the structured resale agreements of $7 million at both March 31, 2015 and December 31, 2014, respectively, that we have elected to account for at fair value. Refer to Note 7 Fair Value for additional information regarding the structured resale agreements at fair value. | |||||||||||||||||||||
Refer to Note 11 Financial Derivatives for additional information related to offsetting of financial derivatives. | |||||||||||||||||||||
Table 118: Resale and Repurchase Agreements Offsetting | |||||||||||||||||||||
Amounts | Securities | ||||||||||||||||||||
Offset | Collateral | ||||||||||||||||||||
Gross | on the | Net | Held Under | ||||||||||||||||||
Resale | Consolidated | Resale | Master Netting | Net | |||||||||||||||||
In millions | Agreements | Balance Sheet | Agreements (a) | Agreements (b) | Amounts (c) | ||||||||||||||||
Resale Agreements | |||||||||||||||||||||
31-Mar-15 | $ | 1,733 | $ | 1,733 | $ | 1,659 | $ | 74 | |||||||||||||
31-Dec-14 | $ | 1,646 | $ | 1,646 | $ | 1,569 | $ | 77 | |||||||||||||
Amounts | Securities | ||||||||||||||||||||
Offset | Collateral | ||||||||||||||||||||
Gross | on the | Net | Pledged Under | ||||||||||||||||||
Repurchase | Consolidated | Repurchase | Master Netting | Net | |||||||||||||||||
In millions | Agreements | Balance Sheet | Agreements (d) | Agreements (b) | Amounts (e) | ||||||||||||||||
Repurchase Agreements | |||||||||||||||||||||
31-Mar-15 | $ | 2,153 | $ | 2,153 | $ | 1,362 | $ | 791 | |||||||||||||
31-Dec-14 | $ | 3,406 | $ | 3,406 | $ | 2,580 | $ | 826 | |||||||||||||
(a) | Represents the resale agreement amount included in Federal funds sold and resale agreements on our Consolidated Balance Sheet and the related accrued interest income in the amount of less than $1 million at March 31, 2015 and $1 million at December 31, 2014, respectively, which is included in Other Assets on the Consolidated Balance Sheet. | ||||||||||||||||||||
(b) | Represents the fair value of securities collateral purchased or sold, up to the amount owed under the agreement, for agreements supported by a legally enforceable master netting agreement. | ||||||||||||||||||||
(c) | Represents certain long term resale agreements which are fully collateralized but do not have the benefits of a netting opinion and, therefore, might be subject to a stay in insolvency proceedings and therefore are not eligible under ASC 210-20 for netting. | ||||||||||||||||||||
(d) | Represents the repurchase agreement amount included in Federal funds purchased and repurchase agreements on our Consolidated Balance Sheet and the related accrued interest expense in the amount of less than $1 million at both March 31, 2015 and December 31, 2014, which is included in Other Liabilities on the Consolidated Balance Sheet. | ||||||||||||||||||||
(e) | Represents overnight repurchase agreements entered into with municipalities, pension plans, and certain trusts and insurance companies which are fully collateralized but do not have the benefits of a netting opinion and, therefore, might be subject to a stay in insolvency proceedings and therefore are not eligible under ASC 210-20 for netting. There were no long term repurchase agreements as of March 31, 2015 and December 31, 2014. |
Segment_Reporting
Segment Reporting | 3 Months Ended | |||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||||||||
Segment Reporting | Note 17 Segment Reporting | |||||||||||||||||||||||||
We have six reportable business segments: | ||||||||||||||||||||||||||
Retail Banking | ||||||||||||||||||||||||||
Corporate & Institutional Banking | ||||||||||||||||||||||||||
Asset Management Group | ||||||||||||||||||||||||||
Residential Mortgage Banking | ||||||||||||||||||||||||||
BlackRock | ||||||||||||||||||||||||||
Non-Strategic Assets Portfolio | ||||||||||||||||||||||||||
Results of individual businesses are presented based on our internal management reporting practices. There is no comprehensive, authoritative body of guidance for management accounting equivalent to GAAP; therefore, the financial results of our individual businesses are not necessarily comparable with similar information for any other company. We periodically refine our internal methodologies as management reporting practices are enhanced. To the extent practicable, retrospective application of new methodologies is made to prior period reportable business segment results and disclosures to create comparability with the current period. | ||||||||||||||||||||||||||
Financial results are presented, to the extent practicable, as if each business operated on a stand-alone basis. Additionally, we have aggregated the results for corporate support functions within “Other” for financial reporting purposes. | ||||||||||||||||||||||||||
Net interest income in business segment results reflects PNC’s internal funds transfer pricing methodology. Assets receive a funding charge and liabilities and capital receive a funding credit based on a transfer pricing methodology that incorporates product repricing characteristics, tenor and other factors. In the first quarter of 2015, enhancements were made to PNC’s funds transfer pricing methodology primarily for costs related to the new regulatory short-term liquidity standards. The enhancements incorporate an additional charge assigned to assets, including for unfunded loan commitments. Conversely, a higher transfer pricing credit has been assigned to those deposits that are accorded higher value under Liquidity Coverage Ratio rules for liquidity purposes. Please see the Supervision and Regulation section in Item 1 and the Liquidity Risk Management section in Item 7 of our 2014 Form 10-K for more information about the ratio. These adjustments apply to business segment results prospectively beginning with the first quarter of 2015. Excluding any changes in business volumes, the estimated impacts of this change to net interest income for Retail Banking and Corporate & Institutional Banking were approximately an increase of $55 million and a decrease of $60 million, respectively, for the first quarter of 2015. The impacts to the other business segments were not significant. Prior periods have not been adjusted due to the impracticability of estimating the impact of the change for prior periods. | ||||||||||||||||||||||||||
A portion of capital is intended to cover unexpected losses and is assigned to our business segments using our risk-based economic capital model, including consideration of the goodwill at those business segments, as well as the diversification of risk among the business segments, ultimately reflecting PNC’s portfolio risk adjusted capital allocation. | ||||||||||||||||||||||||||
We have allocated the allowances for loan and lease losses and for unfunded loan commitments and letters of credit based on the loan exposures within each business segment’s portfolio. Key reserve assumptions and estimation processes react to and are influenced by observed changes in loan portfolio performance experience, the financial strength of the borrower, and economic conditions. Key reserve assumptions are periodically updated. | ||||||||||||||||||||||||||
Our allocation of the costs incurred by operations and other shared support areas not directly aligned with the businesses is primarily based on the use of services. | ||||||||||||||||||||||||||
Total business segment financial results differ from total consolidated net income. The impact of these differences is reflected in the “Other” category in the business segment tables. “Other” includes residual activities that do not meet the criteria for disclosure as a separate reportable business, such as gains or losses related to BlackRock transactions, integration costs, asset and liability management activities including net securities gains or losses, other-than-temporary impairment of investment securities and certain trading activities, exited businesses, private equity investments, intercompany eliminations, most corporate overhead, tax adjustments that are not allocated to business segments, and differences between business segment performance reporting and financial statement reporting (GAAP), including the presentation of net income attributable to noncontrolling interests as the segments’ results exclude their portion of net income attributable to noncontrolling interests. Assets, revenue and earnings attributable to foreign activities were not material in the periods presented for comparative purposes. | ||||||||||||||||||||||||||
Business Segment Products and Services | ||||||||||||||||||||||||||
Retail Banking provides deposit, lending, brokerage, investment management and cash management services to consumer and small business customers within our primary geographic markets. Our customers are serviced through our branch network, ATMs, call centers, online banking and mobile channels. The branch network is located primarily in Pennsylvania, Ohio, New Jersey, Michigan, Illinois, Maryland, Indiana, North Carolina, Florida, Kentucky, Washington, D.C., Delaware, Virginia, Alabama, Missouri, Georgia, Wisconsin and South Carolina. | ||||||||||||||||||||||||||
Corporate & Institutional Banking provides lending, treasury management, and capital markets-related products and services to mid-sized and large corporations, government and not-for-profit entities. Lending products include secured and unsecured loans, letters of credit and equipment leases. Treasury management services include cash and investment management, receivables management, disbursement services, funds transfer services, information reporting and global trade services. Capital markets-related products and services include foreign exchange, derivatives, securities, loan syndications, mergers and acquisitions advisory, equity capital markets advisory and related services. We also provide commercial loan servicing and real estate advisory and technology solutions for the commercial real estate finance industry. Products and services are generally provided within our primary geographic markets, with certain products and services offered nationally and internationally. | ||||||||||||||||||||||||||
Asset Management Group includes personal wealth management for high net worth and ultra high net worth clients and institutional asset management. Wealth management products and services include investment and retirement planning, customized investment management, private banking, tailored credit solutions, and trust management and administration for individuals and their families. Hawthorn provides multi-generational family planning including wealth strategy, investment management, private banking, tax and estate planning guidance, performance reporting and personal administration services to ultra high net worth families. Institutional asset management provides investment management, custody administration and retirement administration services. Institutional clients include corporations, unions, municipalities, non-profits, foundations and endowments, primarily located in our geographic footprint. | ||||||||||||||||||||||||||
Residential Mortgage Banking directly originates first lien residential mortgage loans on a nationwide basis with a significant presence within the retail banking footprint. Mortgage loans represent loans collateralized by one-to-four family residential real estate. These loans are typically underwritten to government agency and/or third-party standards, and either sold, servicing retained, or held on PNC’s balance sheet. Loan sales are primarily to secondary mortgage conduits of FNMA, FHLMC, Federal Home Loan Banks and third-party investors, or are securitized and issued under the GNMA program. The mortgage servicing operation performs all functions related to servicing mortgage loans, primarily those in first lien position, for various investors and for loans owned by PNC. | ||||||||||||||||||||||||||
BlackRock, is a leading publicly traded investment management firm providing a broad range of investment and risk management services to institutional and retail clients worldwide. Using a diverse platform of active and index investment strategies across asset classes, BlackRock develops investment outcomes and asset allocation solutions for clients. Product offerings include single- and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments. BlackRock also offers an investment and risk management technology platform, risk analytics and advisory services and solutions to a broad base of institutional investors. | ||||||||||||||||||||||||||
We hold an equity investment in BlackRock, which is a key component of our diversified revenue strategy. BlackRock is a publicly traded company, and additional information regarding its business is available in its filings with the Securities and Exchange Commission (SEC). At March 31, 2015, our economic interest in BlackRock was 22%. | ||||||||||||||||||||||||||
PNC received cash dividends from BlackRock of $80 million and $71 million during the first three months of 2015 and 2014, respectively. | ||||||||||||||||||||||||||
Non-Strategic Assets Portfolio includes a consumer portfolio of mainly residential mortgage and brokered home equity loans and lines of credit, and a small commercial/commercial real estate loan and lease portfolio. We obtained a significant portion of these non-strategic assets through acquisitions of other companies. | ||||||||||||||||||||||||||
Table 119: Results Of Businesses | ||||||||||||||||||||||||||
Corporate & | Asset | Residential | Non-Strategic | |||||||||||||||||||||||
Three months ended March 31 | Retail | Institutional | Management | Mortgage | Assets | |||||||||||||||||||||
In millions | Banking | Banking | Group | Banking | BlackRock | Portfolio | Other | Consolidated | ||||||||||||||||||
2015 | ||||||||||||||||||||||||||
Income Statement | ||||||||||||||||||||||||||
Net interest income | $ | 1,037 | $ | 823 | $ | 73 | $ | 30 | $ | 112 | $ | -3 | $ | 2,072 | ||||||||||||
Noninterest income | 488 | 429 | 208 | 177 | $ | 175 | 9 | 173 | 1,659 | |||||||||||||||||
Total revenue | 1,525 | 1,252 | 281 | 207 | 175 | 121 | 170 | 3,731 | ||||||||||||||||||
Provision for credit losses (benefit) | 49 | 17 | 12 | 2 | -31 | 5 | 54 | |||||||||||||||||||
Depreciation and amortization | 43 | 36 | 11 | 4 | 99 | 193 | ||||||||||||||||||||
Other noninterest expense | 1,115 | 478 | 199 | 157 | 24 | 183 | 2,156 | |||||||||||||||||||
Income (loss) before income taxes and noncontrolling interests | 318 | 721 | 59 | 44 | 175 | 128 | -117 | 1,328 | ||||||||||||||||||
Income taxes (benefit) | 116 | 239 | 22 | 16 | 40 | 47 | -156 | 324 | ||||||||||||||||||
Net income | $ | 202 | $ | 482 | $ | 37 | $ | 28 | $ | 135 | $ | 81 | $ | 39 | $ | 1,004 | ||||||||||
Inter-segment revenue | $ | 2 | $ | 2 | $ | 5 | $ | 4 | $ | -2 | $ | -11 | ||||||||||||||
Average Assets (a) | $ | 74,017 | $ | 131,178 | $ | 7,943 | $ | 7,245 | $ | 6,645 | $ | 7,276 | $ | 113,753 | $ | 348,057 | ||||||||||
2014 | ||||||||||||||||||||||||||
Income Statement | ||||||||||||||||||||||||||
Net interest income | $ | 980 | $ | 903 | $ | 71 | $ | 40 | $ | 142 | $ | 59 | $ | 2,195 | ||||||||||||
Noninterest income | 514 | 364 | 199 | 166 | $ | 160 | 6 | 173 | 1,582 | |||||||||||||||||
Total revenue | 1,494 | 1,267 | 270 | 206 | 160 | 148 | 232 | 3,777 | ||||||||||||||||||
Provision for credit losses (benefit) | 145 | -13 | 12 | -1 | -52 | 3 | 94 | |||||||||||||||||||
Depreciation and amortization | 44 | 31 | 10 | 3 | 93 | 181 | ||||||||||||||||||||
Other noninterest expense | 1,056 | 457 | 189 | 210 | 26 | 145 | 2,083 | |||||||||||||||||||
Income (loss) before income taxes and noncontrolling interests | 249 | 792 | 59 | -6 | 160 | 174 | -9 | 1,419 | ||||||||||||||||||
Income taxes (benefit) | 91 | 269 | 22 | -2 | 37 | 64 | -122 | 359 | ||||||||||||||||||
Net income (loss) | $ | 158 | $ | 523 | $ | 37 | $ | -4 | $ | 123 | $ | 110 | $ | 113 | $ | 1,060 | ||||||||||
Inter-segment revenue | $ | 1 | $ | -2 | $ | 3 | $ | 4 | $ | 4 | $ | -3 | $ | -7 | ||||||||||||
Average Assets (a) | $ | 75,920 | $ | 117,937 | $ | 7,599 | $ | 8,777 | $ | 6,272 | $ | 8,889 | $ | 94,168 | $ | 319,562 | ||||||||||
(a) | Period-end balances for BlackRock. |
Subsequent_Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | Note 18 Subsequent Events |
On May 4, 2015, we redeemed $500 million of PNC's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series K, as well as all Depositary Shares representing interests therein. Each Depositary Share represented a 1/10 interest in a share of the Series K Preferred Stock. All 50,000 shares of Series K Preferred Stock, as well as all 500,000 Depositary Shares representing interests therein, were redeemed. The redemption price was $10,000 per share of Series K Preferred Stock equivalent to $1,000 per Depositary Share, plus declared and unpaid dividends to but excluding the redemption date. | |
Accounting_Policies_Policy
Accounting Policies (Policy) | 3 Months Ended | |||
Mar. 31, 2015 | ||||
Accounting Policies [Abstract] | ||||
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | Business | |||
PNC is one of the largest diversified financial services companies in the United States and is headquartered in Pittsburgh, Pennsylvania. | ||||
PNC has businesses engaged in retail banking, corporate and institutional banking, asset management, and residential mortgage banking, providing many of its products and services nationally, as well as other products and services in PNC’s primary geographic markets located in Pennsylvania, Ohio, New Jersey, Michigan, Illinois, Maryland, Indiana, North Carolina, Florida, Kentucky, Washington, D.C., Delaware, Virginia, Alabama, Missouri, Georgia, Wisconsin and South Carolina. PNC also provides certain products and services internationally. | ||||
Note 1 Accounting Policies | ||||
Basis Of Financial Statement Presentation | ||||
Our consolidated financial statements include the accounts of the parent company and its subsidiaries, most of which are wholly-owned, and certain partnership interests and variable interest entities. | ||||
We prepared these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (GAAP). We have eliminated intercompany accounts and transactions. We have also reclassified certain prior year amounts to conform to the 2015 presentation, which did not have a material impact on our consolidated financial condition or results of operations. Additionally, we evaluate the materiality of identified errors in the financial statements using both an income statement and a balance sheet approach, based on relevant quantitative and qualitative factors. The consolidated financial statements include certain adjustments to correct immaterial errors related to previously reported periods. In addition, as disclosed in certain Notes to the Consolidated Financial Statements, we made adjustments to previously reported periods for immaterial errors | ||||
In our opinion, the unaudited interim consolidated financial statements reflect all normal, recurring adjustments needed to present fairly our results for the interim periods. The results of operations for interim periods are not necessarily indicative of the results that may be expected for the full year or any other interim period. | ||||
When preparing these unaudited interim consolidated financial statements, we have assumed that you have read the audited consolidated financial statements included in our 2014 Annual Report on Form 10-K. Reference is made to Note 1 Accounting Policies in the 2014 Form 10-K for a detailed description of significant accounting policies. Included herein are policies that are required to be disclosed on an interim basis as well as policies where there has been a significant change within the first three months of 2015. These interim consolidated financial statements serve to update the 2014 Form 10-K and may not include all information and notes necessary to constitute a complete set of financial statements. | ||||
We have also considered the impact of subsequent events on these consolidated financial statements. | ||||
Use of Estimates, Policy [Policy Text Block] | We have also considered the impact of subsequent events on these consolidated financial statements. | |||
Use Of Estimates | ||||
We prepared these consolidated financial statements using financial information available at the time of preparation, which requires us to make estimates and assumptions that affect the amounts reported. Our most significant estimates pertain to our fair value measurements, allowances for loan and lease losses and unfunded loan commitments and letters of credit, and accretion on purchased impaired loans. Actual results may differ from the estimates and the differences may be material to the consolidated financial statements. | ||||
Loans and Leases Receivable, Nonperforming Loan and Lease, Policy [Policy Text Block] | Nonperforming Loans and Leases | |||
The matrix below summarizes PNC's policies for classifying certain loans as nonperforming loans and/or discontinuing the accrual of loan interest income. | ||||
Commercial loans | ||||
Loans Classified as Nonperforming and Accounted for as Nonaccrual | ● | Loans that are 90 days or more past due. | ||
● | Loans rated substandard or worse due to the determination that full collection of principal and interest is not probable as demonstrated by the following conditions: | |||
– | The collection of principal or interest is 90 days or more past due unless the asset is well-secured and/or in the process of collection; | |||
– | Reasonable doubt exists as to the certainty of the borrower's future debt service ability, according to the terms of the credit arrangement, regardless of whether 90 days have passed or not; | |||
– | The borrower has filed or will likely file for bankruptcy; | |||
– | The bank advances additional funds to cover principal or interest; | |||
– | We are in the process of liquidating a commercial borrower; or | |||
– | We are pursuing remedies under a guarantee. | |||
Loans Excluded from Nonperforming Classification but Accounted for as Nonaccrual | ● | Loans accounted for under the fair value option when we determine that full collection of principal and interest is not probable. | ||
● | Loans accounted for at the lower of cost or market less costs to sell (Held for Sale) when we determine that full collection of principal and interest is not probable. | |||
Loans Excluded from Nonperforming Classification and Nonaccrual Accounting | ● | Purchased impaired loans because interest income is accreted through the accounting model. | ||
● | Loans that are well secured and in the process of collection. | |||
Consumer loans | ||||
Loans Classified as Nonperforming and Accounted for as Nonaccrual | ● | Loans accounted for at amortized cost where full collection of contractual principal and interest is not deemed probable as demonstrated in the policies below: | ||
– | The loan is 90 days past due for home equity and installment loans, and 180 days past due for well secured residential real estate loans; | |||
– | The loan has been modified and classified as a troubled debt restructuring (TDR); | |||
– | Notification of bankruptcy has been received and the loan is 30 days or more past due; | |||
– | The bank holds a subordinate lien position in the loan and the first lien loan is seriously stressed (i.e., 90 days or more past due); | |||
– | Other loans within the same borrower relationship have been placed on nonaccrual or charge-offs have been taken on them; | |||
– | The bank has repossessed non-real estate collateral securing the loan; or | |||
– | The bank has charged-off the loan to the value of the collateral. | |||
Loans Excluded from Nonperforming Classification but Accounted for as Nonaccrual | ● | Loans accounted for under the fair value option when we determine that full collection of principal and interest is not probable. | ||
● | Loans accounted for at the lower of cost or market less costs to sell (Held for Sale) when we determine that full collection of principal and interest is not probable. | |||
Loans Excluded from Nonperforming Classification and Nonaccrual Accounting | ● | Purchased impaired loans because interest income is accreted through the accounting model. | ||
● | Certain government insured loans where substantially all principal and interest is insured. | |||
● | Residential real estate loans that are well secured and in the process of collection. | |||
● | Unsecured consumer loans and lines of credit as permitted by regulatory guidance. | |||
See Note 3 Asset Quality in this Report for additional detail on nonperforming assets and asset quality indicators for commercial and consumer loans. | ||||
Commercial Loans | ||||
We generally charge off Commercial Lending (Commercial, Commercial Real Estate, and Equipment Lease Financing) nonperforming loans when we determine that a specific loan, or portion thereof, is uncollectible. This determination is based on the specific facts and circumstances of the individual loans. In making this determination, we consider the viability of the business or project as a going concern, the past due status when the asset is not well-secured, the expected cash flows to repay the loan, the value of the collateral, and the ability and willingness of any guarantors to perform. | ||||
Additionally, in general, for smaller dollar commercial loans of $1 million or less, a partial or full charge-off occurs at 120 days past due for term loans and 180 days past due for revolvers. Certain small business credit card balances that are placed on nonaccrual status when they become 90 days or more past due are charged-off at 180 days past due. | ||||
Consumer Loans | ||||
Home equity installment loans, home equity lines of credit, and residential real estate loans that are not well-secured and in the process of collection are charged-off at no later than 180 days past due. At that time, the basis in the loan is reduced to the fair value of the collateral less costs to sell. In addition to this policy, the bank recognizes a charge-off on a secured consumer loan when: | ||||
The bank holds a subordinate lien position in the loan and a foreclosure notice has been received on the first lien loan; | ||||
The bank holds a subordinate lien position in the loan which is 30 days or more past due with a combined loan to value ratio of greater than or equal to 110% and the first lien loan is seriously stressed (i.e., 90 days or more past due); | ||||
The loan is modified or otherwise restructured in a manner that results in the loan becoming collateral dependent; | ||||
Notification of bankruptcy has been received within the last 60 days and the loan is 60 days or more past due; | ||||
The borrower has been discharged from personal liability through Chapter 7 bankruptcy and has not formally reaffirmed his or her loan obligation to PNC; or | ||||
The collateral securing the loan has been repossessed and the value of the collateral is less than the recorded investment of the loan outstanding. | ||||
For loans that continue to meet any of the above policies, collateral values are updated annually and subsequent declines in collateral values are charged-off resulting in incremental provision for credit loss. | ||||
Accounting for Nonperforming Loans and Leases and Other Nonaccrual Loans | ||||
For accrual loans, interest income is accrued on a monthly basis and certain fees and costs are deferred upon origination and recognized in income over the term of the loan utilizing an effective yield method. For nonaccrual loans, interest income accrual and deferred fee/cost amortization is discontinued. Additionally, the current year accrued and uncollected interest is reversed through Net interest income and prior year accrued and uncollected interest is charged-off. Nonaccrual loans may also be charged-off to reduce the basis to the fair value of collateral less costs to sell. | ||||
If payment is received on a nonaccrual loan, generally the payment is first applied to the recorded investment; payments are then applied to recover any charged-off amounts related to the loan. Finally, if both recorded investment and any charge-offs have been recovered, then the payment will be recorded as fee and interest income. | ||||
For TDRs, payments are applied based upon their contractual terms unless the related loan is deemed non-performing. TDRs are generally included in nonperforming and nonaccrual loans until returned to performing/accruing status through performance under restructured terms and other performance indicators for a reasonable period of time demonstrating that the bank expects to collect all of the loan’s remaining contractual principal and interest. TDRs resulting from 1) borrowers that have been discharged from personal liability through Chapter 7 bankruptcy and have not formally reaffirmed their loan obligations to PNC and 2) borrowers that are not currently obligated to make both principal and interest payments under the restructured terms are not returned to accrual status. | ||||
Other nonaccrual loans are generally not returned to accrual status until the borrower has performed in accordance with the contractual terms and other performance indicators for at least six months, the period of time which was determined to demonstrate the expected collection of the loan’s remaining contractual principal and interest. When a nonperforming loan is returned to accrual status, it is then considered a performing loan. | ||||
See Note 3 Asset Quality and Note 5 Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters of Credit in this Report and in our 2014 Form 10-K for additional TDR information. | ||||
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan and Lease Losses | |||
We maintain the ALLL at a level that we believe to be appropriate to absorb estimated probable credit losses incurred in the loan and lease portfolios as of the balance sheet date. Our determination of the allowance is based on periodic evaluations of these loan and lease portfolios and other relevant factors. This critical estimate includes significant use of PNC’s own historical data and complex methods to interpret this data. These evaluations are inherently subjective, as they require material estimates and may be susceptible to significant change, and include, among others: | ||||
Probability of default (PD), | ||||
Loss given default (LGD), | ||||
Outstanding balance of the loan, | ||||
Movement through delinquency stages, | ||||
Amounts and timing of expected future cash flows, | ||||
Value of collateral, which may be obtained from third parties, and | ||||
Qualitative factors, such as changes in current economic conditions, that may not be reflected in modeled results. | ||||
For all loans, except purchased impaired loans, the ALLL is the sum of three components: (i) asset specific/individual impaired reserves, (ii) quantitative (formulaic or pooled) reserves and (iii) qualitative (judgmental) reserves. | ||||
The reserve calculation and determination process is dependent on the use of key assumptions. Key reserve assumptions and estimation processes react to and are influenced by observed changes in loan portfolio performance experience, the financial strength of the borrower, and economic conditions. Key reserve assumptions are periodically updated. | ||||
Asset Specific/Individual Component | ||||
Nonperforming loans that are considered impaired under ASC 310 – Receivables, which include all commercial and consumer TDRs, are evaluated for a specific reserve. Specific reserve allocations are determined as follows: | ||||
For commercial nonperforming loans and commercial TDRs greater than or equal to a defined dollar threshold, specific reserves are based on an analysis of the present value of the loan’s expected future cash flows, the loan’s observable market price or the fair value of the collateral. | ||||
For commercial nonperforming loans and commercial TDRs below the defined dollar threshold, the individual loan’s loss given default (LGD) percentage is multiplied by the loan balance and the results are aggregated for purposes of measuring specific reserve impairment. | ||||
Consumer nonperforming loans are collectively reserved for unless classified as consumer TDRs. For consumer TDRs, specific reserves are determined through an analysis of the present value of the loan’s expected future cash flows, except for those instances where loans have been deemed collateral dependent, including loans where borrowers have been discharged from personal liability through Chapter 7 bankruptcy and have not formally reaffirmed their loan obligations to PNC. Once that determination has been made, those TDRs are charged down to the fair value of the collateral less costs to sell at each period end. | ||||
Commercial Lending Quantitative Component | ||||
The estimates of the quantitative component of ALLL for incurred losses within the commercial lending portfolio segment are determined through statistical loss modeling utilizing PD, LGD and outstanding balance of the loan. Based upon loan risk ratings, we assign PDs and LGDs. Each of these statistical parameters is determined based on internal historical data and market data. PD is influenced by such factors as liquidity, industry, obligor financial structure, access to capital and cash flow. LGD is influenced by collateral type, original and/or updated loan-to-value ratio (LTV), facility structure and other factors. | ||||
Consumer Lending Quantitative Component | ||||
Quantitative estimates within the consumer lending portfolio segment are calculated primarily using a roll-rate model based on statistical relationships, calculated from historical data that estimate the movement of loan outstandings through the various stages of delinquency and ultimately charge-off over our loss emergence period. | ||||
Qualitative Component | ||||
While our reserve methodologies strive to reflect all relevant risk factors, there continues to be uncertainty associated with, but not limited to, potential imprecision in the estimation process due to the inherent time lag of obtaining information and normal variations between estimates and actual outcomes. We provide additional reserves that are designed to provide coverage for losses attributable to such risks. The ALLL also includes factors that may not be directly measured in the determination of specific or pooled reserves. Such qualitative factors may include: | ||||
Industry concentrations and conditions, | ||||
Recent credit quality trends, | ||||
Recent loss experience in particular portfolios, | ||||
Recent macro-economic factors, | ||||
Model imprecision, | ||||
Changes in lending policies and procedures, | ||||
Timing of available information, including the performance of first lien positions, and | ||||
Limitations of available historical data. | ||||
Allowance for Purchased Non-Impaired Loans | ||||
ALLL for purchased non-impaired loans is determined based upon a comparison between the methodologies described above and the remaining acquisition date fair value discount that has yet to be accreted into interest income. After making the comparison, an ALLL is recorded for the amount greater than the discount, or no ALLL is recorded if the discount is greater. | ||||
Allowance for Purchased Impaired Loans | ||||
ALLL for purchased impaired loans is determined in accordance with ASC 310-30 by comparing the net present value of the cash flows expected to be collected to the recorded investment for a given loan (or pool of loans). In cases where the net present value of expected cash flows is lower than the recorded investment, ALLL is established. Cash flows expected to be collected represent management’s best estimate of the cash flows expected over the life of a loan (or pool of loans). For large balance commercial loans, cash flows are separately estimated at the loan level. For smaller balance pooled loans, pool cash flows are estimated using cash flow models. Pools were defined at acquisition based on the risk characteristics of the loan. Our cash flow models use loan data including, but not limited to, contractual loan balance, delinquency status of the loan, updated borrower FICO credit scores, geographic information, historical loss experience, and updated LTVs, as well as best estimates for changes in unemployment rates, home prices and other economic factors, to determine estimated cash flows. | ||||
See Note 4 Purchased Loans and Note 5 Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters of Credit for additional loan data and application of the policies disclosed herein. | ||||
Our credit risk management policies, procedures and practices are designed to promote sound lending standards and prudent credit risk management. We have policies, procedures and practices that address financial statement requirements, collateral review and appraisal requirements, advance rates based upon collateral types, appropriate levels of exposure, cross-border risk, lending to specialized industries or borrower type, guarantor requirements, and regulatory compliance. | ||||
Allowance For Unfunded Loan Commitments And Letters Of Credit [Policy Text Block] | Allowance for Unfunded Loan Commitments and Letters of Credit | |||
We maintain the allowance for unfunded loan commitments and letters of credit at a level we believe is appropriate to absorb estimated probable credit losses on these unfunded credit facilities as of the balance sheet date. We determine the allowance based on periodic evaluations of the unfunded credit facilities, including an assessment of the probability of commitment usage, credit risk factors, and, solely for commercial lending, the terms and expiration dates of the unfunded credit facilities. Other than the estimation of the probability of funding, the reserve for unfunded loan commitments is estimated in a manner similar to the methodology used for determining reserves for funded exposures. The allowance for unfunded loan commitments and letters of credit is recorded as a liability on the Consolidated Balance Sheet. Net adjustments to the allowance for unfunded loan commitments and letters of credit are included in the provision for credit losses. | ||||
See Note 5 Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters of Credit for additional loan data and application of the policies disclosed herein. | ||||
Earnings Per Share, Policy [Text Block] | Earnings Per Common Share | |||
Basic earnings per common share is calculated using the two-class method to determine income attributable to common shareholders. Unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents are considered participating securities under the two-class method. Income attributable to common shareholders is then divided by the weighted-average common shares outstanding for the period. | ||||
Diluted earnings per common share is calculated under the more dilutive of either the treasury method or the two-class method. For the diluted calculation, we increase the weighted-average number of shares of common stock outstanding by the assumed conversion of outstanding convertible preferred stock from the beginning of the year or date of issuance, if later, and the number of shares of common stock that would be issued assuming the exercise of stock options and warrants and the issuance of incentive shares using the treasury stock method. These adjustments to the weighted-average number of shares of common stock outstanding are made only when such adjustments will dilute earnings per common share. See Note 13 Earnings Per Share for additional information. | ||||
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Recently Adopted Accounting Standards | |||
In August 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-14, Receivables—Troubled Debt Restructurings by Creditors (Subtopic 310-40): Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure (a consensus of the FASB Emerging Issues Task Force). This ASU requires that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure when a) the loan has a government guarantee that is not separable from the loan before foreclosure; b) the creditor has the intent to convey the real estate to the guarantor and make a claim on the guarantee and the creditor has the ability to recover under that claim at the time of foreclosure; and c) any amount of the claim that is determined upon the basis of the real estate is fixed at the time of foreclosure. The receivable should be measured based on the loan balance (inclusive of principal and interest) that is expected to be recovered from the guarantor. This ASU is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. The ASU may be adopted using either a prospective or modified retrospective transition method consistent with the method elected to adopt ASU 2014-04, Receivables—Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. We adopted this guidance as of January 1, 2015. Adoption of this ASU did not have a material effect on our results of operations or financial position. | ||||
In June 2014, the FASB issued ASU 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. This ASU impacts the accounting for repurchase-to-maturity transactions and transfers executed contemporaneously with a repurchase agreement with the same counterparty (i.e., a repurchase financing) by requiring secured borrowing accounting. We adopted this accounting as of January 1, 2015 and will adopt the disclosure requirements in the second quarter of 2015. Adoption of this ASU did not have a material effect on our results of operations or financial position. | ||||
In January 2014, the FASB issued ASU 2014-04, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. This ASU clarifies that an in substance repossession or foreclosure is considered to have occurred, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon a) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or b) the borrower conveying all interest in the residential real estate property to the creditor to satisfy the loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. We adopted this guidance as of January 1, 2015. Adoption of this ASU did not have a material effect on our results of operations or financial position. |
Loan_Sale_and_Servicing_Activi1
Loan Sale and Servicing Activities and Variable Interest Entities (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Loan Sale and Servicing Activities and Variable Interest Entities [Abstract] | |||||||||||||||||||||
Certain Financial Information and Cash Flows Associated with Loan Sale and Servicing Activities | Table 50: Certain Financial Information and Cash Flows Associated with Loan Sale and Servicing Activities | ||||||||||||||||||||
Residential | Commercial | Home Equity | |||||||||||||||||||
In millions | Mortgages | Mortgages (a) | Loans/Lines (b) | ||||||||||||||||||
FINANCIAL INFORMATION - March 31, 2015 | |||||||||||||||||||||
Servicing portfolio (c) | $ | 112,932 | $ | 190,394 | $ | 3,686 | |||||||||||||||
Carrying value of servicing assets (d) | 839 | 494 | |||||||||||||||||||
Servicing advances (e) | 510 | 292 | 7 | ||||||||||||||||||
Repurchase and recourse obligations (f) | 106 | 38 | 28 | ||||||||||||||||||
Carrying value of mortgage-backed securities held (g) | 5,188 | 1,134 | |||||||||||||||||||
FINANCIAL INFORMATION - December 31, 2014 | |||||||||||||||||||||
Servicing portfolio (c) | $ | 108,010 | $ | 186,032 | $ | 3,833 | |||||||||||||||
Carrying value of servicing assets (d) | 845 | 506 | |||||||||||||||||||
Servicing advances (e) | 501 | 299 | 31 | ||||||||||||||||||
Repurchase and recourse obligations (f) | 107 | 35 | 29 | ||||||||||||||||||
Carrying value of mortgage-backed securities held (g) | 3,365 | 1,269 | |||||||||||||||||||
Residential | Commercial | Home Equity | |||||||||||||||||||
In millions | Mortgages | Mortgages (a) | Loans/Lines (b) | ||||||||||||||||||
CASH FLOWS - Three months ended March 31, 2015 | |||||||||||||||||||||
Sales of loans (h) | $ | 1,940 | $ | 1,020 | |||||||||||||||||
Repurchases of previously transferred loans (i) | 169 | $ | 2 | ||||||||||||||||||
Servicing fees (j) | 83 | 32 | 4 | ||||||||||||||||||
Servicing advances recovered/(funded), net | -9 | 7 | 24 | ||||||||||||||||||
Cash flows on mortgage-backed securities held (g) | 240 | 60 | |||||||||||||||||||
CASH FLOWS - Three months ended March 31, 2014 | |||||||||||||||||||||
Sales of loans (h) | $ | 2,095 | $ | 439 | |||||||||||||||||
Repurchases of previously transferred loans (i) | 209 | $ | 6 | ||||||||||||||||||
Servicing fees (j) | 87 | 41 | 5 | ||||||||||||||||||
Servicing advances recovered/(funded), net | 30 | 32 | 3 | ||||||||||||||||||
Cash flows on mortgage-backed securities held (g) | 232 | 144 | |||||||||||||||||||
(a) | Represents financial information and cash flows associated with both commercial mortgage loan transfer and servicing activities. | ||||||||||||||||||||
(b) | These activities were part of an acquired brokered home equity lending business in which PNC is no longer engaged. | ||||||||||||||||||||
(c) | For our continuing involvement with residential mortgages, this amount represents the outstanding balance of loans we service, including loans transferred by us and loans originated by others where we have purchased the associated servicing rights. For home equity loan/line of credit transfers, this amount represents the outstanding balance of loans transferred and serviced. For commercial mortgages, this amount represents our overall servicing portfolio in which loans have been transferred by us or third parties to VIEs. | ||||||||||||||||||||
(d) | See Note 7 Fair Value and Note 8 Goodwill and Intangible Assets for further information. | ||||||||||||||||||||
(e) | Pursuant to certain contractual servicing agreements, represents outstanding balance of funds advanced (i) to investors for monthly collections of borrower principal and interest, (ii) for borrower draws on unused home equity lines of credit, and (iii) for collateral protection associated with the underlying mortgage collateral. | ||||||||||||||||||||
(f) | Represents liability for our loss exposure associated with loan repurchases for breaches of representations and warranties for our Residential Mortgage Banking and Non-Strategic Assets Portfolio segments, and our commercial mortgage loss share arrangements for our Corporate & Institutional Banking segment. See Note 16 Commitments and Guarantees for further information. | ||||||||||||||||||||
(g) | Represents securities held where PNC transferred to and/or services loans for a securitization SPE and we hold securities issued by that SPE. | ||||||||||||||||||||
(h) | Gains/losses recognized on sales of loans were insignificant for the periods presented. | ||||||||||||||||||||
(i) | Includes government insured or guaranteed loans eligible for repurchase through the exercise of our ROAP option and loans repurchased due to breaches of origination covenants or representations and warranties made to purchasers. | ||||||||||||||||||||
(j) | Includes contractually specified servicing fees, late charges and ancillary fees. | ||||||||||||||||||||
Principal Balance, Delinquent Loans (Loans 90 Days or More Past Due), and Net Charge-Offs Related to Serviced Loans | Table 51: Principal Balance, Delinquent Loans, and Net Charge-offs Related to Serviced Loans | ||||||||||||||||||||
Residential | Commercial | Home Equity | |||||||||||||||||||
In millions | Mortgages | Mortgages (a) | Loans/Lines (b) | ||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||
Total principal balance | $ | 77,476 | $ | 59,289 | $ | 3,686 | |||||||||||||||
Delinquent loans (c) | 2,435 | 747 | 1,249 | ||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||
Total principal balance | $ | 79,108 | $ | 60,873 | $ | 3,833 | |||||||||||||||
Delinquent loans (c) | 2,657 | 707 | 1,303 | ||||||||||||||||||
Residential | Commercial | Home Equity | |||||||||||||||||||
In millions | Mortgages | Mortgages (a) | Loans/Lines (b) | ||||||||||||||||||
Three months ended March 31, 2015 | |||||||||||||||||||||
Net charge-offs (d) | $ | 32 | $ | 107 | $ | 7 | |||||||||||||||
Three months ended March 31, 2014 | |||||||||||||||||||||
Net charge-offs (d) | $ | 41 | $ | 355 | $ | 17 | |||||||||||||||
(a) Represents information at the securitization level in which PNC has sold loans and is the servicer for the securitization. | |||||||||||||||||||||
(b) These activities were part of an acquired brokered home equity lending business in which PNC is no longer engaged. | |||||||||||||||||||||
(c) Serviced delinquent loans are 90 days or more past due or are in process of foreclosure. | |||||||||||||||||||||
(d) Net charge-offs for Residential mortgages and Home equity loans/lines represent credit losses less recoveries distributed and as reported to investors during the period. Net charge-offs for Commercial mortgages represent credit losses less recoveries distributed and as reported by the trustee for CMBS securitizations. Realized losses for Agency securitizations are not reflected as we do not manage the underlying real estate upon foreclosure and, as such, do not have access to loss information. | |||||||||||||||||||||
Consolidated VIEs - Carrying Value | Table 52: Consolidated VIEs – Carrying Value (a) (b) | ||||||||||||||||||||
31-Mar-15 | Credit Card and Other | Tax Credit | |||||||||||||||||||
In millions | Securitization Trusts | Investments | Total | ||||||||||||||||||
Assets | |||||||||||||||||||||
Cash and due from banks | $ | 6 | $ | 6 | |||||||||||||||||
Interest-earning deposits with banks | 6 | 6 | |||||||||||||||||||
Investment securities | |||||||||||||||||||||
Loans | $ | 1,486 | 1,486 | ||||||||||||||||||
Allowance for loan and lease losses | -46 | -46 | |||||||||||||||||||
Equity investments | 334 | 334 | |||||||||||||||||||
Other assets | 6 | 428 | 434 | ||||||||||||||||||
Total assets | $ | 1,446 | $ | 774 | $ | 2,220 | |||||||||||||||
Liabilities | |||||||||||||||||||||
Other borrowed funds | $ | 160 | $ | 181 | $ | 341 | |||||||||||||||
Accrued expenses | 69 | 69 | |||||||||||||||||||
Other liabilities | 142 | 142 | |||||||||||||||||||
Total liabilities | $ | 160 | $ | 392 | $ | 552 | |||||||||||||||
31-Dec-14 | Credit Card and Other | Tax Credit | |||||||||||||||||||
In millions | Securitization Trusts | Investments | Total | ||||||||||||||||||
Assets | |||||||||||||||||||||
Cash and due from banks | $ | 6 | $ | 6 | |||||||||||||||||
Interest-earning deposits with banks | 6 | 6 | |||||||||||||||||||
Investment securities | |||||||||||||||||||||
Loans | $ | 1,606 | 1,606 | ||||||||||||||||||
Allowance for loan and lease losses | -50 | -50 | |||||||||||||||||||
Equity investments | 492 | 492 | |||||||||||||||||||
Other assets | 31 | 452 | 483 | ||||||||||||||||||
Total assets | $ | 1,587 | $ | 956 | $ | 2,543 | |||||||||||||||
Liabilities | |||||||||||||||||||||
Commercial paper | |||||||||||||||||||||
Other borrowed funds | $ | 166 | $ | 181 | $ | 347 | |||||||||||||||
Accrued expenses | 70 | 70 | |||||||||||||||||||
Other liabilities | 206 | 206 | |||||||||||||||||||
Total liabilities | $ | 166 | $ | 457 | $ | 623 | |||||||||||||||
(a) | Amounts represent carrying value on PNC’s Consolidated Balance Sheet. | ||||||||||||||||||||
(b) | Difference between total assets and total liabilities represents the equity portion of the VIE or intercompany assets and liabilities which are eliminated in consolidation. | ||||||||||||||||||||
Non-Consolidated VIEs | Table 53: Non-Consolidated VIEs | ||||||||||||||||||||
Carrying Value of Assets Owned by PNC | Carrying Value of Liabilities Owned by PNC | ||||||||||||||||||||
Aggregate | Aggregate | PNC Risk | |||||||||||||||||||
In millions | Assets | Liabilities | of Loss (a) | ||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||
Commercial Mortgage-Backed Securitizations (b) | $ | 50,756 | $ | 50,756 | $ | 1,390 | $ | 1,390 | (d) | $ | 1 | (f) | |||||||||
Residential Mortgage-Backed Securitizations (b) | 225,877 | 225,877 | 5,217 | 5,217 | (d) | 1 | (f) | ||||||||||||||
Tax Credit Investments and Other (c) | 7,631 | 2,982 | 2,275 | 2,315 | (e) | 792 | (g) | ||||||||||||||
Total | $ | 284,264 | $ | 279,615 | $ | 8,882 | $ | 8,922 | $ | 794 | |||||||||||
Carrying Value of Assets Owned by PNC | Carrying Value of Liabilities Owned by PNC | ||||||||||||||||||||
Aggregate | Aggregate | PNC Risk | |||||||||||||||||||
In millions | Assets | Liabilities | of Loss (a) | ||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||
Commercial Mortgage-Backed Securitizations (b) | $ | 53,436 | $ | 53,436 | $ | 1,550 | $ | 1,550 | (d) | $ | 1 | (f) | |||||||||
Residential Mortgage-Backed Securitizations (b) | 62,236 | 62,236 | 3,385 | 3,385 | (d) | 4 | (f) | ||||||||||||||
Tax Credit Investments and Other (c) | 7,493 | 2,933 | 2,270 | 2,304 | (e) | 777 | (g) | ||||||||||||||
Total | $ | 123,165 | $ | 118,605 | $ | 7,205 | $ | 7,239 | $ | 782 | |||||||||||
(a) | This represents loans, investments and other assets related to non-consolidated VIEs, net of collateral (if applicable). Our total exposure related to our involvement in loan sale and servicing activities is disclosed in Table 50. Additionally, we also invest in other mortgage and asset-backed securities issued by third-party VIEs with which we have no continuing involvement. Further information on these securities is included in Note 6 Investment Securities and values disclosed represent our maximum exposure to loss for those securities’ holdings. | ||||||||||||||||||||
(b) | Amounts reflect involvement with securitization SPEs where PNC transferred to and/or services loans for an SPE and we hold securities issued by that SPE. Asset amounts equal outstanding liability amounts of the SPEs due to limited availability of SPE financial information. | ||||||||||||||||||||
(c) | Aggregate assets and aggregate liabilities are based on limited availability of financial information associated with certain acquired partnerships and certain LLCs engaged in solar power generation to which PNC provides lease financing. The aggregate assets and aggregate liabilities of LLCs engaged in solar power generation may not be reflective of the size of these VIEs due to differences in classification of leases by these entities. | ||||||||||||||||||||
(d) | Included in Trading securities, Investment securities, Other intangible assets and Other assets on our Consolidated Balance Sheet. | ||||||||||||||||||||
(e) | Included in Loans, Equity investments and Other assets on our Consolidated Balance Sheet. | ||||||||||||||||||||
(f) | Included in Other liabilities on our Consolidated Balance Sheet. | ||||||||||||||||||||
(g) | Included in Deposits and Other liabilities on our Consolidated Balance Sheet. |
Asset_Quality_Tables
Asset Quality (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||||||||||
Asset Quality [Abstract] | |||||||||||||||||||||||||||||||||||||
Analysis of Loan Portfolio | Table 54: Analysis of Loan Portfolio (a) | ||||||||||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||||||||||
Current or Less | 30-59 | 60-89 | 90 Days | Total | Fair Value Option | Purchased | Total | ||||||||||||||||||||||||||||||
Than 30 Days | Days | Days | Or More | Past | Nonperforming | Nonaccrual | Impaired | Loans | |||||||||||||||||||||||||||||
Dollars in millions | Past Due | Past Due | Past Due | Past Due | Due (b) | Loans | Loans (c) | Loans | (d) (e) | ||||||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||||||||||||||
Commercial Lending | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 97,182 | $ | 73 | $ | 20 | $ | 35 | $ | 128 | $ | 280 | $ | 60 | $ | 97,650 | |||||||||||||||||||||
Commercial real estate | 23,999 | 24 | 23 | 47 | 293 | 216 | 24,555 | ||||||||||||||||||||||||||||||
Equipment lease financing | 7,452 | 16 | 16 | 2 | 7,470 | ||||||||||||||||||||||||||||||||
Total commercial lending | 128,633 | 113 | 43 | 35 | 191 | 575 | 276 | 129,675 | |||||||||||||||||||||||||||||
Consumer Lending | |||||||||||||||||||||||||||||||||||||
Home equity | 30,955 | 61 | 30 | 91 | 1,101 | 1,918 | 34,065 | ||||||||||||||||||||||||||||||
Residential real estate (f) | 10,227 | 142 | 53 | 660 | 855 | 665 | $ | 261 | 2,481 | 14,489 | |||||||||||||||||||||||||||
Credit card | 4,357 | 25 | 17 | 32 | 74 | 3 | 4,434 | ||||||||||||||||||||||||||||||
Other consumer (g) | 21,459 | 178 | 100 | 261 | 539 | 61 | 22,059 | ||||||||||||||||||||||||||||||
Total consumer lending | 66,998 | 406 | 200 | 953 | 1,559 | 1,830 | 261 | 4,399 | 75,047 | ||||||||||||||||||||||||||||
Total | $ | 195,631 | $ | 519 | $ | 243 | $ | 988 | $ | 1,750 | $ | 2,405 | $ | 261 | $ | 4,675 | $ | 204,722 | |||||||||||||||||||
Percentage of total loans | 95.56 | % | 0.25 | % | 0.12 | % | 0.48 | % | 0.85 | % | 1.17 | % | 0.13 | % | 2.29 | % | 100 | % | |||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||||||||||
Commercial Lending | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 96,922 | $ | 73 | $ | 24 | $ | 37 | $ | 134 | $ | 290 | $ | 74 | $ | 97,420 | |||||||||||||||||||||
Commercial real estate | 22,667 | 23 | 2 | 25 | 334 | 236 | 23,262 | ||||||||||||||||||||||||||||||
Equipment lease financing | 7,672 | 11 | 1 | 12 | 2 | 7,686 | |||||||||||||||||||||||||||||||
Total commercial lending | 127,261 | 107 | 27 | 37 | 171 | 626 | 310 | 128,368 | |||||||||||||||||||||||||||||
Consumer Lending | |||||||||||||||||||||||||||||||||||||
Home equity | 31,474 | 70 | 32 | 102 | 1,112 | 1,989 | 34,677 | ||||||||||||||||||||||||||||||
Residential real estate (f) | 9,900 | 163 | 68 | 742 | 973 | 706 | $ | 269 | 2,559 | 14,407 | |||||||||||||||||||||||||||
Credit card | 4,528 | 28 | 20 | 33 | 81 | 3 | 4,612 | ||||||||||||||||||||||||||||||
Other consumer (g) | 22,071 | 214 | 112 | 293 | 619 | 63 | 22,753 | ||||||||||||||||||||||||||||||
Total consumer lending | 67,973 | 475 | 232 | 1,068 | 1,775 | 1,884 | 269 | 4,548 | 76,449 | ||||||||||||||||||||||||||||
Total | $ | 195,234 | $ | 582 | $ | 259 | $ | 1,105 | $ | 1,946 | $ | 2,510 | $ | 269 | $ | 4,858 | $ | 204,817 | |||||||||||||||||||
Percentage of total loans | 95.32 | % | 0.28 | % | 0.13 | % | 0.54 | % | 0.95 | % | 1.23 | % | 0.13 | % | 2.37 | % | 100 | % | |||||||||||||||||||
(a) | Amounts in table represent recorded investment and exclude loans held for sale. | ||||||||||||||||||||||||||||||||||||
(b) | Past due loan amounts exclude purchased impaired loans, even if contractually past due (or if we do not expect to receive payment in full based on the original contractual terms), as we are currently accreting interest income over the expected life of the loans. | ||||||||||||||||||||||||||||||||||||
(c) | Consumer loans accounted for under the fair value option for which we do not expect to collect substantially all principal and interest are subject to nonaccrual accounting and classification upon meeting any of our nonaccrual policies. Given that these loans are not accounted for at amortized cost, these loans have been excluded from the nonperforming loan population. | ||||||||||||||||||||||||||||||||||||
(d) | Net of unearned income, net deferred loan fees, unamortized discounts and premiums, and purchase discounts and premiums totaling $1.6 billion and $1.7 billion at | ||||||||||||||||||||||||||||||||||||
March 31, 2015 and December 31, 2014, respectively. | |||||||||||||||||||||||||||||||||||||
(e) | Future accretable yield related to purchased impaired loans is not included in the analysis of loan portfolio. | ||||||||||||||||||||||||||||||||||||
(f) | Past due loan amounts at March 31, 2015 include government insured or guaranteed Residential real estate mortgages totaling $70 million for 30 to 59 days past due, $35 million for 60 to 89 days past due and $634 million for 90 days or more past due. Past due loan amounts at December 31, 2014 include government insured or guaranteed Residential real estate mortgages totaling $68 million for 30 to 59 days past due, $43 million for 60 to 89 days past due and $719 million for 90 days or more past due. | ||||||||||||||||||||||||||||||||||||
(g) | Past due loan amounts at March 31, 2015 include government insured or guaranteed Other consumer loans totaling $126 million for 30 to 59 days past due, $82 million for 60 to 89 days past due and $244 million for 90 days or more past due. Past due loan amounts at December 31, 2014 include government insured or guaranteed Other consumer loans totaling $152 million for 30 to 59 days past due, $93 million for 60 to 89 days past due and $277 million for 90 days or more past due. | ||||||||||||||||||||||||||||||||||||
Nonperforming Assets | Table 55: Nonperforming Assets | ||||||||||||||||||||||||||||||||||||
31-Mar | 31-Dec | ||||||||||||||||||||||||||||||||||||
Dollars in millions | 2015 | 2014 | |||||||||||||||||||||||||||||||||||
Nonperforming loans | |||||||||||||||||||||||||||||||||||||
Commercial lending | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 280 | $ | 290 | |||||||||||||||||||||||||||||||||
Commercial real estate | 293 | 334 | |||||||||||||||||||||||||||||||||||
Equipment lease financing | 2 | 2 | |||||||||||||||||||||||||||||||||||
Total commercial lending | 575 | 626 | |||||||||||||||||||||||||||||||||||
Consumer lending (a) | |||||||||||||||||||||||||||||||||||||
Home equity | 1,101 | 1,112 | |||||||||||||||||||||||||||||||||||
Residential real estate | 665 | 706 | |||||||||||||||||||||||||||||||||||
Credit card | 3 | 3 | |||||||||||||||||||||||||||||||||||
Other consumer | 61 | 63 | |||||||||||||||||||||||||||||||||||
Total consumer lending | 1,830 | 1,884 | |||||||||||||||||||||||||||||||||||
Total nonperforming loans (b) (c) | 2,405 | 2,510 | |||||||||||||||||||||||||||||||||||
OREO and foreclosed assets | |||||||||||||||||||||||||||||||||||||
Other real estate owned (OREO) | 331 | 351 | |||||||||||||||||||||||||||||||||||
Foreclosed and other assets | 18 | 19 | |||||||||||||||||||||||||||||||||||
Total OREO and foreclosed assets | 349 | 370 | |||||||||||||||||||||||||||||||||||
Total nonperforming assets | $ | 2,754 | $ | 2,880 | |||||||||||||||||||||||||||||||||
Nonperforming loans to total loans | 1.17 | % | 1.23 | % | |||||||||||||||||||||||||||||||||
Nonperforming assets to total loans, OREO and foreclosed assets | 1.34 | 1.4 | |||||||||||||||||||||||||||||||||||
Nonperforming assets to total assets | 0.78 | 0.83 | |||||||||||||||||||||||||||||||||||
(a) | Excludes most consumer loans and lines of credit, not secured by residential real estate, which are charged off after 120 to 180 days past due and are not placed on nonperforming status. | ||||||||||||||||||||||||||||||||||||
(b) | Nonperforming loans exclude certain government insured or guaranteed loans, loans held for sale, loans accounted for under the fair value option and purchased impaired loans. | ||||||||||||||||||||||||||||||||||||
(c) | The recorded investment of loans collateralized by residential real estate property that are in process of foreclosure was $.7 billion and $.8 billion at March 31, 2015 and December 31, 2014, respectively, both of which included $.5 billion of loans that are government insured/guaranteed. | ||||||||||||||||||||||||||||||||||||
Commercial Lending Asset Quality Indicators | Table 56: Commercial Lending Asset Quality Indicators (a)(b) | ||||||||||||||||||||||||||||||||||||
Criticized Commercial Loans | |||||||||||||||||||||||||||||||||||||
Pass | Special | Total | |||||||||||||||||||||||||||||||||||
In millions | Rated | Mention (c) | Substandard (d) | Doubtful (e) | Loans | ||||||||||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 92,972 | $ | 1,968 | $ | 2,601 | $ | 49 | $ | 97,590 | |||||||||||||||||||||||||||
Commercial real estate | 23,405 | 276 | 631 | 27 | 24,339 | ||||||||||||||||||||||||||||||||
Equipment lease financing | 7,321 | 59 | 88 | 2 | 7,470 | ||||||||||||||||||||||||||||||||
Purchased impaired loans | 5 | 244 | 27 | 276 | |||||||||||||||||||||||||||||||||
Total commercial lending | $ | 123,698 | $ | 2,308 | $ | 3,564 | $ | 105 | $ | 129,675 | |||||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 92,884 | $ | 1,984 | $ | 2,424 | $ | 55 | $ | 97,347 | |||||||||||||||||||||||||||
Commercial real estate | 22,066 | 285 | 639 | 35 | 23,025 | ||||||||||||||||||||||||||||||||
Equipment lease financing | 7,518 | 73 | 93 | 2 | 7,686 | ||||||||||||||||||||||||||||||||
Purchased impaired loans | 4 | 280 | 26 | 310 | |||||||||||||||||||||||||||||||||
Total commercial lending | $ | 122,468 | $ | 2,346 | $ | 3,436 | $ | 118 | $ | 128,368 | |||||||||||||||||||||||||||
(a) | Based upon PDs and LGDs. We apply a split rating classification to certain loans meeting threshold criteria. By assigning a split classification, a loan's exposure amount may be split into more than one classification category in the above table. | ||||||||||||||||||||||||||||||||||||
(b) | Loans are included above based on the Regulatory Classification definitions of "Pass", "Special Mention", "Substandard" and "Doubtful". | ||||||||||||||||||||||||||||||||||||
(c) | Special Mention rated loans have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration | ||||||||||||||||||||||||||||||||||||
of repayment prospects at some future date. These loans do not expose us to sufficient risk to warrant a more adverse classification at this time. | |||||||||||||||||||||||||||||||||||||
(d) | Substandard rated loans have a well-defined weakness or weaknesses that jeopardize the collection or liquidation of debt. They are characterized by the distinct possibility | ||||||||||||||||||||||||||||||||||||
that we will sustain some loss if the deficiencies are not corrected. | |||||||||||||||||||||||||||||||||||||
(e) | Doubtful rated loans possess all the inherent weaknesses of a Substandard loan with the additional characteristics that the weakness makes collection or liquidation in full | ||||||||||||||||||||||||||||||||||||
improbable due to existing facts, conditions, and values. | |||||||||||||||||||||||||||||||||||||
Home Equity and Residential Real Estate Balances | Table 57: Home Equity and Residential Real Estate Balances | ||||||||||||||||||||||||||||||||||||
31-Mar | 31-Dec | ||||||||||||||||||||||||||||||||||||
In millions | 2015 | 2014 | |||||||||||||||||||||||||||||||||||
Home equity and residential real estate loans - excluding purchased impaired loans (a) | $ | 43,049 | $ | 43,348 | |||||||||||||||||||||||||||||||||
Home equity and residential real estate loans - purchased impaired loans (b) | 4,343 | 4,541 | |||||||||||||||||||||||||||||||||||
Government insured or guaranteed residential real estate mortgages (a) | 1,106 | 1,188 | |||||||||||||||||||||||||||||||||||
Difference between outstanding balance and recorded investment in purchased impaired loans (c) | 56 | 7 | |||||||||||||||||||||||||||||||||||
Total home equity and residential real estate loans (a) | $ | 48,554 | $ | 49,084 | |||||||||||||||||||||||||||||||||
(a) | Represents recorded investment. | ||||||||||||||||||||||||||||||||||||
(b) | Represents outstanding balance. | ||||||||||||||||||||||||||||||||||||
(c) | Outstanding balance represents the balance on the loan servicing system for active loans. It is possible for the outstanding balance to be lower than the recorded investment for certain loans due to the use of pool accounting. | ||||||||||||||||||||||||||||||||||||
Home Equity and Residential Real Estate Asset Quality Indicators | Table 58: Home Equity and Residential Real Estate Asset Quality Indicators – Excluding Purchased Impaired Loans (a) (b) | ||||||||||||||||||||||||||||||||||||
Home Equity | Residential Real Estate | ||||||||||||||||||||||||||||||||||||
March 31, 2015 - in millions | 1st Liens | 2nd Liens | Total | ||||||||||||||||||||||||||||||||||
Current estimated LTV ratios (c) | |||||||||||||||||||||||||||||||||||||
Greater than or equal to 125% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | $ | 324 | $ | 1,258 | $ | 345 | $ | 1,927 | |||||||||||||||||||||||||||||
Less than or equal to 660 (d) (e) | 56 | 251 | 98 | 405 | |||||||||||||||||||||||||||||||||
Missing FICO | 1 | 8 | 9 | 18 | |||||||||||||||||||||||||||||||||
Greater than or equal to 100% to less than 125% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 840 | 2,084 | 762 | 3,686 | |||||||||||||||||||||||||||||||||
Less than or equal to 660 (d) (e) | 123 | 371 | 149 | 643 | |||||||||||||||||||||||||||||||||
Missing FICO | 2 | 5 | 9 | 16 | |||||||||||||||||||||||||||||||||
Greater than or equal to 90% to less than 100% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 894 | 1,679 | 742 | 3,315 | |||||||||||||||||||||||||||||||||
Less than or equal to 660 | 108 | 261 | 103 | 472 | |||||||||||||||||||||||||||||||||
Missing FICO | 1 | 3 | 7 | 11 | |||||||||||||||||||||||||||||||||
Less than 90% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 13,857 | 7,661 | 7,983 | 29,501 | |||||||||||||||||||||||||||||||||
Less than or equal to 660 | 1,341 | 977 | 593 | 2,911 | |||||||||||||||||||||||||||||||||
Missing FICO | 23 | 14 | 107 | 144 | |||||||||||||||||||||||||||||||||
Total home equity and residential real estate loans | $ | 17,570 | $ | 14,572 | $ | 10,907 | $ | 43,049 | |||||||||||||||||||||||||||||
Home Equity | Residential Real Estate | ||||||||||||||||||||||||||||||||||||
December 31, 2014 - in millions | 1st Liens | 2nd Liens | Total | ||||||||||||||||||||||||||||||||||
Current estimated LTV ratios (c) | |||||||||||||||||||||||||||||||||||||
Greater than or equal to 125% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | $ | 333 | $ | 1,399 | $ | 360 | $ | 2,092 | |||||||||||||||||||||||||||||
Less than or equal to 660 (d) (e) | 57 | 273 | 92 | 422 | |||||||||||||||||||||||||||||||||
Missing FICO | 1 | 9 | 8 | 18 | |||||||||||||||||||||||||||||||||
Greater than or equal to 100% to less than 125% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 839 | 2,190 | 772 | 3,801 | |||||||||||||||||||||||||||||||||
Less than or equal to 660 (d) (e) | 118 | 383 | 153 | 654 | |||||||||||||||||||||||||||||||||
Missing FICO | 1 | 5 | 12 | 18 | |||||||||||||||||||||||||||||||||
Greater than or equal to 90% to less than 100% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 891 | 1,703 | 755 | 3,349 | |||||||||||||||||||||||||||||||||
Less than or equal to 660 | 103 | 271 | 118 | 492 | |||||||||||||||||||||||||||||||||
Missing FICO | 2 | 3 | 5 | 10 | |||||||||||||||||||||||||||||||||
Less than 90% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 13,878 | 7,874 | 7,703 | 29,455 | |||||||||||||||||||||||||||||||||
Less than or equal to 660 | 1,319 | 995 | 573 | 2,887 | |||||||||||||||||||||||||||||||||
Missing FICO | 27 | 14 | 109 | 150 | |||||||||||||||||||||||||||||||||
Total home equity and residential real estate loans | $ | 17,569 | $ | 15,119 | $ | 10,660 | $ | 43,348 | |||||||||||||||||||||||||||||
(a) | Excludes purchased impaired loans of approximately $4.3 billion and $4.5 billion in recorded investment, certain government insured or guaranteed residential real estate mortgages of approximately $1.1 billion and $1.2 billion, and loans held for sale at March 31, 2015 and December 31, 2014, respectively. See the Home Equity and Residential Real Estate Asset Quality Indicators - Purchased Impaired Loans table below for additional information on purchased impaired loans. | ||||||||||||||||||||||||||||||||||||
(b) | Amounts shown represent recorded investment. | ||||||||||||||||||||||||||||||||||||
(c) | Based upon updated LTV (inclusive of combined loan-to-value (CLTV) for first and subordinate lien positions). Updated LTV is estimated using modeled property values. These ratios are updated at least semi-annually. The related estimates and inputs are based upon an approach that uses a combination of third-party automated valuation models (AVMs), broker price opinions (BPOs), HPI indices, property location, internal and external balance information, origination data and management assumptions. In cases where we are in an originated second lien position, we generally utilize origination balances provided by a third-party which do not include an amortization assumption when calculating updated LTV. Accordingly, the results of these calculations do not represent actual appraised loan level collateral or updated LTV based upon a current first lien balance, and as such, are necessarily imprecise and subject to change as we enhance our methodology. | ||||||||||||||||||||||||||||||||||||
(d) | Higher risk loans are defined as loans with both an updated FICO score of less than or equal to 660 and an updated LTV greater than or equal to 100%. | ||||||||||||||||||||||||||||||||||||
(e) | The following states had the highest percentage of higher risk loans at March 31, 2015: New Jersey 14%, Pennsylvania 12%, Illinois 12%, Ohio 12%, Florida 7%, Maryland 6%, Michigan 5%. The remainder of the states had lower than 4% of the higher risk loans individually, and collectively they represent approximately 32% of the higher risk loans. The following states had the highest percentage of higher risk loans at December 31, 2014: New Jersey 14%, Illinois 12%, Pennsylvania 12%, Ohio 12%, Florida 8%, Maryland 6%, Michigan 5%, and North Carolina 4%. The remainder of the states had lower than 4% of the high risk loans individually, and collectively they represent approximately 28% of the higher risk loans. | ||||||||||||||||||||||||||||||||||||
Table 59: Home Equity and Residential Real Estate Asset Quality Indicators – Purchased Impaired Loans (a) | |||||||||||||||||||||||||||||||||||||
Home Equity (b) (c) | Residential Real Estate (b) (c) | ||||||||||||||||||||||||||||||||||||
March 31, 2015 - in millions | 1st Liens | 2nd Liens | Total | ||||||||||||||||||||||||||||||||||
Current estimated LTV ratios (d) | |||||||||||||||||||||||||||||||||||||
Greater than or equal to 125% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | $ | 7 | $ | 223 | $ | 244 | $ | 474 | |||||||||||||||||||||||||||||
Less than or equal to 660 | 9 | 117 | 138 | 264 | |||||||||||||||||||||||||||||||||
Missing FICO | 7 | 4 | 11 | ||||||||||||||||||||||||||||||||||
Greater than or equal to 100% to less than 125% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 14 | 407 | 262 | 683 | |||||||||||||||||||||||||||||||||
Less than or equal to 660 | 13 | 183 | 185 | 381 | |||||||||||||||||||||||||||||||||
Missing FICO | 10 | 5 | 15 | ||||||||||||||||||||||||||||||||||
Greater than or equal to 90% to less than 100% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 12 | 200 | 167 | 379 | |||||||||||||||||||||||||||||||||
Less than or equal to 660 | 9 | 95 | 119 | 223 | |||||||||||||||||||||||||||||||||
Missing FICO | 5 | 3 | 8 | ||||||||||||||||||||||||||||||||||
Less than 90% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 107 | 330 | 621 | 1,058 | |||||||||||||||||||||||||||||||||
Less than or equal to 660 | 104 | 191 | 505 | 800 | |||||||||||||||||||||||||||||||||
Missing FICO | 1 | 12 | 16 | 29 | |||||||||||||||||||||||||||||||||
Missing LTV and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 1 | 12 | 13 | ||||||||||||||||||||||||||||||||||
Less than or equal to 660 | 4 | 1 | 5 | ||||||||||||||||||||||||||||||||||
Total home equity and residential real estate loans | $ | 281 | $ | 1,780 | $ | 2,282 | $ | 4,343 | |||||||||||||||||||||||||||||
Home Equity (b) (c ) | Residential Real Estate (b) (c) | ||||||||||||||||||||||||||||||||||||
December 31, 2014 - in millions | 1st Liens | 2nd Liens | Total | ||||||||||||||||||||||||||||||||||
Current estimated LTV ratios (d) | |||||||||||||||||||||||||||||||||||||
Greater than or equal to 125% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | $ | 8 | $ | 243 | $ | 276 | $ | 527 | |||||||||||||||||||||||||||||
Less than or equal to 660 | 9 | 125 | 144 | 278 | |||||||||||||||||||||||||||||||||
Missing FICO | 8 | 6 | 14 | ||||||||||||||||||||||||||||||||||
Greater than or equal to 100% to less than 125% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 15 | 426 | 272 | 713 | |||||||||||||||||||||||||||||||||
Less than or equal to 660 | 12 | 194 | 200 | 406 | |||||||||||||||||||||||||||||||||
Missing FICO | 11 | 5 | 16 | ||||||||||||||||||||||||||||||||||
Greater than or equal to 90% to less than 100% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 12 | 207 | 186 | 405 | |||||||||||||||||||||||||||||||||
Less than or equal to 660 | 9 | 93 | 123 | 225 | |||||||||||||||||||||||||||||||||
Missing FICO | 5 | 3 | 8 | ||||||||||||||||||||||||||||||||||
Less than 90% and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 102 | 339 | 626 | 1,067 | |||||||||||||||||||||||||||||||||
Less than or equal to 660 | 109 | 200 | 515 | 824 | |||||||||||||||||||||||||||||||||
Missing FICO | 1 | 12 | 15 | 28 | |||||||||||||||||||||||||||||||||
Missing LTV and updated FICO scores: | |||||||||||||||||||||||||||||||||||||
Greater than 660 | 1 | 14 | 15 | ||||||||||||||||||||||||||||||||||
Less than or equal to 660 | 4 | 10 | 14 | ||||||||||||||||||||||||||||||||||
Missing FICO | 1 | 1 | |||||||||||||||||||||||||||||||||||
Total home equity and residential real estate loans | $ | 282 | $ | 1,863 | $ | 2,396 | $ | 4,541 | |||||||||||||||||||||||||||||
(a) | Amounts shown represent outstanding balance. See Note 4 Purchased Loans for additional information. | ||||||||||||||||||||||||||||||||||||
(b) | For the estimate of cash flows utilized in our purchased impaired loan accounting, other assumptions and estimates are made, including amortization of first lien balances, pre-payment rates, etc., which are not reflected in this table. | ||||||||||||||||||||||||||||||||||||
(c) | The following states had the highest percentage of purchased impaired loans at March 31, 2015: California 17%, Florida 15%, Illinois 11%, Ohio 8%, North Carolina 7%, and Michigan 5%. The remainder of the states had lower than a 4% concentration of purchased impaired loans individually, and collectively they represent approximately 37% of the purchased impaired portfolio. The following states had the highest percentage of purchased impaired loans at December 31, 2014: California 17%, Florida 15%, Illinois 11%, Ohio 8%, North Carolina 7% and Michigan 5%. The remainder of the states had lower than a 4% concentration of purchased impaired loans individually, and collectively they represent approximately 37% of the purchased impaired portfolio. | ||||||||||||||||||||||||||||||||||||
(d) | Based upon updated LTV (inclusive of combined loan-to-value (CLTV) for first and subordinate lien positions). Updated LTV is estimated using modeled property values. These ratios are updated at least semi-annually. The related estimates and inputs are based upon an approach that uses a combination of third-party automated valuation models (AVMs), broker price opinions (BPOs), HPI indices, property location, internal and external balance information, origination data and management assumptions. In cases where we are in an originated second lien position, we generally utilize origination balances provided by a third-party which do not include an amortization assumption when calculating updated LTV. Accordingly, the results of these calculations do not represent actual appraised loan level collateral or updated LTV based upon a current first lien balance, and as such, are necessarily imprecise and subject to change as we enhance our methodology. | ||||||||||||||||||||||||||||||||||||
Credit Card and Other Consumer Loan Classes Asset Quality Indicators | Table 60: Credit Card and Other Consumer Loan Classes Asset Quality Indicators | ||||||||||||||||||||||||||||||||||||
Credit Card (a) | Other Consumer (b) | ||||||||||||||||||||||||||||||||||||
% of Total Loans | % of Total Loans | ||||||||||||||||||||||||||||||||||||
Using FICO | Using FICO | ||||||||||||||||||||||||||||||||||||
Dollars in millions | Amount | Credit Metric | Amount | Credit Metric | |||||||||||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||||||||||||||
FICO score greater than 719 | $ | 2,563 | 58 | % | $ | 9,069 | 64 | % | |||||||||||||||||||||||||||||
650 to 719 | 1,261 | 28 | 3,462 | 24 | |||||||||||||||||||||||||||||||||
620 to 649 | 200 | 5 | 547 | 4 | |||||||||||||||||||||||||||||||||
Less than 620 | 235 | 5 | 640 | 4 | |||||||||||||||||||||||||||||||||
No FICO score available or required (c) | 175 | 4 | 563 | 4 | |||||||||||||||||||||||||||||||||
Total loans using FICO credit metric | 4,434 | 100 | % | 14,281 | 100 | % | |||||||||||||||||||||||||||||||
Consumer loans using other internal credit metrics (b) | 7,778 | ||||||||||||||||||||||||||||||||||||
Total loan balance | $ | 4,434 | $ | 22,059 | |||||||||||||||||||||||||||||||||
Weighted-average updated FICO score (d) | 731 | 743 | |||||||||||||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||||||||||
FICO score greater than 719 | $ | 2,717 | 59 | % | $ | 9,156 | 64 | % | |||||||||||||||||||||||||||||
650 to 719 | 1,288 | 28 | 3,459 | 24 | |||||||||||||||||||||||||||||||||
620 to 649 | 203 | 4 | 528 | 4 | |||||||||||||||||||||||||||||||||
Less than 620 | 239 | 5 | 619 | 4 | |||||||||||||||||||||||||||||||||
No FICO score available or required (c) | 165 | 4 | 557 | 4 | |||||||||||||||||||||||||||||||||
Total loans using FICO credit metric | 4,612 | 100 | % | 14,319 | 100 | % | |||||||||||||||||||||||||||||||
Consumer loans using other internal credit metrics (b) | 8,434 | ||||||||||||||||||||||||||||||||||||
Total loan balance | $ | 4,612 | $ | 22,753 | |||||||||||||||||||||||||||||||||
Weighted-average updated FICO score (d) | 732 | 744 | |||||||||||||||||||||||||||||||||||
(a) | At March 31, 2015, we had $34 million of credit card loans that are higher risk (i.e., loans with both updated FICO scores less than 660 and in late stage (90+ days) | ||||||||||||||||||||||||||||||||||||
delinquency status). The majority of the March 31, 2015 balance related to higher risk credit card loans was geographically distributed throughout the following areas: | |||||||||||||||||||||||||||||||||||||
Ohio 17%, Pennsylvania 16%, Michigan 9%, Illinois 8%, New Jersey 7%, Florida 6%, Indiana 5%, and Kentucky 4%. All other states had less than 4% individually and | |||||||||||||||||||||||||||||||||||||
make up the remainder of the balance. At December 31, 2014, we had $35 million of credit card loans that are higher risk. The majority of the December 31, | |||||||||||||||||||||||||||||||||||||
2014 balance related to higher risk credit card loans was geographically distributed throughout the following areas: Ohio 17%, Pennsylvania 16%, Michigan 9%, Illinois 7%, | |||||||||||||||||||||||||||||||||||||
New Jersey 7%, Indiana 6%, Florida 6% and North Carolina 4%. All other states had less than 4% individually and make up the remainder of the balance. | |||||||||||||||||||||||||||||||||||||
(b) | Other consumer loans for which updated FICO scores are used as an asset quality indicator include non-government guaranteed or insured education loans, automobile | ||||||||||||||||||||||||||||||||||||
loans and other secured and unsecured lines and loans. Other consumer loans for which other internal credit metrics are used as an asset quality indicator include primarily | |||||||||||||||||||||||||||||||||||||
government guaranteed or insured education loans, as well as consumer loans to high net worth individuals. Other internal credit metrics may include delinquency status, | |||||||||||||||||||||||||||||||||||||
geography or other factors. | |||||||||||||||||||||||||||||||||||||
(c) | Credit card loans and other consumer loans with no FICO score available or required generally refers to new accounts issued to borrowers with limited credit history, accounts for which we cannot obtain an updated FICO score (e.g., recent profile changes), cards issued with a business name, and/or cards secured by collateral. Management proactively assesses the risk and size of this loan portfolio and, when necessary, takes actions to mitigate the credit risk. | ||||||||||||||||||||||||||||||||||||
(d) | Weighted-average updated FICO score excludes accounts with no FICO score available or required. | ||||||||||||||||||||||||||||||||||||
Summary of Troubled Debt Restructurings | Table 61: Summary of Troubled Debt Restructurings | ||||||||||||||||||||||||||||||||||||
31-Mar | 31-Dec | ||||||||||||||||||||||||||||||||||||
In millions | 2015 | 2014 | |||||||||||||||||||||||||||||||||||
Total consumer lending | $ | 2,020 | $ | 2,041 | |||||||||||||||||||||||||||||||||
Total commercial lending | 510 | 542 | |||||||||||||||||||||||||||||||||||
Total TDRs | $ | 2,530 | $ | 2,583 | |||||||||||||||||||||||||||||||||
Nonperforming | $ | 1,317 | $ | 1,370 | |||||||||||||||||||||||||||||||||
Accruing (a) | 1,089 | 1,083 | |||||||||||||||||||||||||||||||||||
Credit card | 124 | 130 | |||||||||||||||||||||||||||||||||||
Total TDRs | $ | 2,530 | $ | 2,583 | |||||||||||||||||||||||||||||||||
(a) | Accruing TDR loans have demonstrated a period of at least six months of performance under the restructured terms and are excluded from nonperforming loans. Loans where borrowers have been discharged from personal liability through Chapter 7 bankruptcy and have not formally reaffirmed their loan obligations to PNC and loans to borrowers not currently obligated to make both principal and interest payments under the restructured terms are not returned to accrual status. | ||||||||||||||||||||||||||||||||||||
Financial Impact and TDRs by Concession Type | Table 62: Financial Impact and TDRs by Concession Type (a) | ||||||||||||||||||||||||||||||||||||
Pre-TDR | Post-TDR Recorded Investment (c) | ||||||||||||||||||||||||||||||||||||
During the three months ended March 31, 2015 | Number | Recorded | Principal | Rate | |||||||||||||||||||||||||||||||||
Dollars in millions | of Loans | Investment (b) | Forgiveness | Reduction | Other | Total | |||||||||||||||||||||||||||||||
Commercial lending | |||||||||||||||||||||||||||||||||||||
Commercial | 30 | $ | 53 | $ | 1 | $ | 1 | $ | 49 | $ | 51 | ||||||||||||||||||||||||||
Commercial real estate | 8 | 10 | 1 | 1 | 2 | ||||||||||||||||||||||||||||||||
Total commercial lending | 38 | 63 | 1 | 2 | 50 | 53 | |||||||||||||||||||||||||||||||
Consumer lending | |||||||||||||||||||||||||||||||||||||
Home equity | 712 | 45 | 23 | 19 | 42 | ||||||||||||||||||||||||||||||||
Residential real estate | 70 | 8 | 5 | 4 | 9 | ||||||||||||||||||||||||||||||||
Credit card | 1,684 | 14 | 13 | 13 | |||||||||||||||||||||||||||||||||
Other consumer | 272 | 4 | 1 | 2 | 3 | ||||||||||||||||||||||||||||||||
Total consumer lending | 2,738 | 71 | 42 | 25 | 67 | ||||||||||||||||||||||||||||||||
Total TDRs | 2,776 | $ | 134 | $ | 1 | $ | 44 | $ | 75 | $ | 120 | ||||||||||||||||||||||||||
During the three months ended March 31, 2014 | |||||||||||||||||||||||||||||||||||||
Dollars in millions | |||||||||||||||||||||||||||||||||||||
Commercial lending | |||||||||||||||||||||||||||||||||||||
Commercial | 34 | $ | 41 | $ | 38 | $ | 38 | ||||||||||||||||||||||||||||||
Commercial real estate | 23 | 41 | $ | 19 | 11 | 30 | |||||||||||||||||||||||||||||||
Total commercial lending | 57 | 82 | 19 | 49 | 68 | ||||||||||||||||||||||||||||||||
Consumer lending | |||||||||||||||||||||||||||||||||||||
Home equity | 831 | 52 | $ | 20 | 27 | 47 | |||||||||||||||||||||||||||||||
Residential real estate | 119 | 18 | 6 | 12 | 18 | ||||||||||||||||||||||||||||||||
Credit card | 1,972 | 16 | 16 | 16 | |||||||||||||||||||||||||||||||||
Other consumer | 265 | 4 | 3 | 3 | |||||||||||||||||||||||||||||||||
Total consumer lending | 3,187 | 90 | 42 | 42 | 84 | ||||||||||||||||||||||||||||||||
Total TDRs | 3,244 | $ | 172 | $ | 19 | $ | 42 | $ | 91 | $ | 152 | ||||||||||||||||||||||||||
(a) | Impact of partial charge-offs at TDR date are included in this table. | ||||||||||||||||||||||||||||||||||||
(b) | Represents the recorded investment of the loans as of the quarter end prior to TDR designation, and excludes immaterial amounts of accrued interest receivable. | ||||||||||||||||||||||||||||||||||||
(c) | Represents the recorded investment of the TDRs as of the end of the quarter in which the TDR occurs, and excludes immaterial amounts of accrued interest receivable. | ||||||||||||||||||||||||||||||||||||
TDRs that were Modified in the Past Twelve Months which have Subsequently Defaulted | Table 63: TDRs that were Modified in the Past Twelve Months which have Subsequently Defaulted | ||||||||||||||||||||||||||||||||||||
During the three months ended March 31, 2015 | |||||||||||||||||||||||||||||||||||||
Dollars in millions | Number of Contracts | Recorded Investment | |||||||||||||||||||||||||||||||||||
Commercial lending | |||||||||||||||||||||||||||||||||||||
Commercial | 5 | $ | 1 | ||||||||||||||||||||||||||||||||||
Commercial real estate | 7 | 8 | |||||||||||||||||||||||||||||||||||
Total commercial lending | 12 | 9 | |||||||||||||||||||||||||||||||||||
Consumer lending | |||||||||||||||||||||||||||||||||||||
Home equity | 66 | 4 | |||||||||||||||||||||||||||||||||||
Residential real estate | 11 | 2 | |||||||||||||||||||||||||||||||||||
Credit card | 908 | 7 | |||||||||||||||||||||||||||||||||||
Other consumer | 37 | 1 | |||||||||||||||||||||||||||||||||||
Total consumer lending | 1,022 | 14 | |||||||||||||||||||||||||||||||||||
Total TDRs | 1,034 | $ | 23 | ||||||||||||||||||||||||||||||||||
During the three months ended March 31, 2014 | |||||||||||||||||||||||||||||||||||||
Dollars in millions | Number of Contracts | Recorded Investment | |||||||||||||||||||||||||||||||||||
Commercial lending | |||||||||||||||||||||||||||||||||||||
Commercial | 10 | $ | 6 | ||||||||||||||||||||||||||||||||||
Commercial real estate | 7 | 10 | |||||||||||||||||||||||||||||||||||
Total commercial lending | 17 | 16 | |||||||||||||||||||||||||||||||||||
Consumer lending (a) | |||||||||||||||||||||||||||||||||||||
Home equity | 116 | 7 | |||||||||||||||||||||||||||||||||||
Residential real estate | 25 | 3 | |||||||||||||||||||||||||||||||||||
Credit card | 1,157 | 9 | |||||||||||||||||||||||||||||||||||
Other consumer | 45 | 1 | |||||||||||||||||||||||||||||||||||
Total consumer lending | 1,343 | 20 | |||||||||||||||||||||||||||||||||||
Total TDRs | 1,360 | $ | 36 | ||||||||||||||||||||||||||||||||||
(a) | In the second quarter of 2014, we corrected our Consumer lending subsequent default (excluding credit card) determination process by further refining the data. For the three months ended March 31, 2014, this correction removed 533 contracts for approximately $44 million from Total consumer lending (excluding credit card). | ||||||||||||||||||||||||||||||||||||
Impaired Loans | Table 64: Impaired Loans | ||||||||||||||||||||||||||||||||||||
Unpaid | Average | ||||||||||||||||||||||||||||||||||||
Principal | Recorded | Associated | Recorded | ||||||||||||||||||||||||||||||||||
In millions | Balance | Investment (a) | Allowance (b) | Investment (c) | |||||||||||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||||||||||||||
Impaired loans with an associated allowance | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 395 | $ | 291 | $ | 62 | $ | 304 | |||||||||||||||||||||||||||||
Commercial real estate | 382 | 232 | 55 | 247 | |||||||||||||||||||||||||||||||||
Home equity | 999 | 985 | 193 | 984 | |||||||||||||||||||||||||||||||||
Residential real estate | 531 | 412 | 73 | 417 | |||||||||||||||||||||||||||||||||
Credit card | 124 | 124 | 28 | 127 | |||||||||||||||||||||||||||||||||
Other consumer | 62 | 44 | 1 | 45 | |||||||||||||||||||||||||||||||||
Total impaired loans with an associated allowance | $ | 2,493 | $ | 2,088 | $ | 412 | $ | 2,124 | |||||||||||||||||||||||||||||
Impaired loans without an associated allowance | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 111 | $ | 96 | $ | 90 | |||||||||||||||||||||||||||||||
Commercial real estate | 227 | 169 | 178 | ||||||||||||||||||||||||||||||||||
Home equity | 419 | 141 | 143 | ||||||||||||||||||||||||||||||||||
Residential real estate | 326 | 314 | 314 | ||||||||||||||||||||||||||||||||||
Total impaired loans without an associated allowance | $ | 1,083 | $ | 720 | $ | 725 | |||||||||||||||||||||||||||||||
Total impaired loans | $ | 3,576 | $ | 2,808 | $ | 412 | $ | 2,849 | |||||||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||||||||||
Impaired loans with an associated allowance | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 432 | $ | 318 | $ | 74 | $ | 360 | |||||||||||||||||||||||||||||
Commercial real estate | 418 | 262 | 65 | 283 | |||||||||||||||||||||||||||||||||
Home equity | 1,021 | 984 | 215 | 986 | |||||||||||||||||||||||||||||||||
Residential real estate | 397 | 420 | 75 | 422 | |||||||||||||||||||||||||||||||||
Credit card | 130 | 130 | 32 | 147 | |||||||||||||||||||||||||||||||||
Other consumer | 64 | 47 | 2 | 51 | |||||||||||||||||||||||||||||||||
Total impaired loans with an associated allowance | $ | 2,462 | $ | 2,161 | $ | 463 | $ | 2,249 | |||||||||||||||||||||||||||||
Impaired loans without an associated allowance | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 106 | $ | 84 | $ | 133 | |||||||||||||||||||||||||||||||
Commercial real estate | 249 | 187 | 276 | ||||||||||||||||||||||||||||||||||
Home equity | 403 | 145 | 134 | ||||||||||||||||||||||||||||||||||
Residential real estate | 344 | 315 | 365 | ||||||||||||||||||||||||||||||||||
Total impaired loans without an associated allowance | $ | 1,102 | $ | 731 | $ | 908 | |||||||||||||||||||||||||||||||
Total impaired loans | $ | 3,564 | $ | 2,892 | $ | 463 | $ | 3,157 | |||||||||||||||||||||||||||||
(a) | Recorded investment in a loan includes the unpaid principal balance plus accrued interest and net accounting adjustments, less any charge-offs. Recorded investment does not include any associated valuation allowance. | ||||||||||||||||||||||||||||||||||||
(b) | Associated allowance amounts include $.3 billion and $.4 billion for TDRs at March 31, 2015 and December 31, 2014, respectively. | ||||||||||||||||||||||||||||||||||||
(c) | Average recorded investment is for the three months ended March 31, 2015 and the year ended December 31, 2014, respectively. |
Purchased_Loans_Tables
Purchased Loans (Tables) | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
Accounting for Acquired Loans Disclosure | ||||||||||||||||||||
Purchased Impaired Loans - Balances | Table 65: Purchased Impaired Loans - Balances | |||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||
In millions | OutstandingBalance (a) | Recorded Investment | Carrying Value | OutstandingBalance (a) | Recorded Investment | Carrying Value | ||||||||||||||
Commercial lending | ||||||||||||||||||||
Commercial | $ | 142 | $ | 60 | $ | 44 | $ | 159 | $ | 74 | $ | 57 | ||||||||
Commercial real estate | 256 | 216 | 152 | 307 | 236 | 174 | ||||||||||||||
Total commercial lending | 398 | 276 | 196 | 466 | 310 | 231 | ||||||||||||||
Consumer lending | ||||||||||||||||||||
Consumer | 2,056 | 1,918 | 1,595 | 2,145 | 1,989 | 1,661 | ||||||||||||||
Residential real estate | 2,287 | 2,481 | 2,023 | 2,396 | 2,559 | 2,094 | ||||||||||||||
Total consumer lending | 4,343 | 4,399 | 3,618 | 4,541 | 4,548 | 3,755 | ||||||||||||||
Total | $ | 4,741 | $ | 4,675 | $ | 3,814 | $ | 5,007 | $ | 4,858 | $ | 3,986 | ||||||||
(a) Outstanding balance represents the balance on the loan servicing system for active loans. It is possible for the outstanding balance to be lower than the recorded investment for certain loans due to the use of pool accounting. | ||||||||||||||||||||
Purchased Impaired Loans - Accretable Yield | Activity for the accretable yield during the first three months of 2015 and 2014 follows: | |||||||||||||||||||
Table 66: Purchased Impaired Loans - Accretable Yield | ||||||||||||||||||||
In millions | 2015 | 2014 | ||||||||||||||||||
1-Jan | $ | 1,558 | $ | 2,055 | ||||||||||||||||
Accretion (including excess cash recoveries) | -132 | -154 | ||||||||||||||||||
Net reclassifications to accretable from non-accretable (a) | 64 | 95 | ||||||||||||||||||
Disposals | -6 | -8 | ||||||||||||||||||
31-Mar | $ | 1,484 | $ | 1,988 | ||||||||||||||||
(a) | Approximately 90% and 95% of the net reclassifications for the three months ended March 31, 2015 and 2014, respectively, were driven by the consumer portfolio and were due to improvements of cash expected to be collected on loans in future periods. The remaining net reclassifications were predominantly due to future cash flow changes in the commercial portfolio. |
Allowances_for_Loan_and_Lease_1
Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters Of Credit (Tables) | 3 Months Ended | |||||||||||||||
Mar. 31, 2015 | ||||||||||||||||
Allowance For Loan And Lease Losses [Abstract] | ||||||||||||||||
Rollforward of Allowance for Loan and Lease Losses and Associated Loan Data | Table 67: Rollforward of Allowance for Loan and Lease Losses and Associated Loan Data | |||||||||||||||
Commercial | Consumer | |||||||||||||||
In millions | Lending | Lending | Total | |||||||||||||
31-Mar-15 | ||||||||||||||||
Allowance for Loan and Lease Losses | ||||||||||||||||
1-Jan | $ | 1,571 | $ | 1,760 | $ | 3,331 | ||||||||||
Charge-offs | -46 | -143 | -189 | |||||||||||||
Recoveries | 45 | 41 | 86 | |||||||||||||
Net charge-offs | -1 | -102 | -103 | |||||||||||||
Provision for credit losses | -2 | 56 | 54 | |||||||||||||
Net change in allowance for unfunded loan commitments and letters of credit | 25 | 25 | ||||||||||||||
Other | -1 | -1 | ||||||||||||||
31-Mar | $ | 1,592 | $ | 1,714 | $ | 3,306 | ||||||||||
TDRs individually evaluated for impairment | $ | 47 | $ | 295 | $ | 342 | ||||||||||
Other loans individually evaluated for impairment | 70 | 70 | ||||||||||||||
Loans collectively evaluated for impairment | 1,395 | 638 | 2,033 | |||||||||||||
Purchased impaired loans | 80 | 781 | 861 | |||||||||||||
31-Mar | $ | 1,592 | $ | 1,714 | $ | 3,306 | ||||||||||
Loan Portfolio | ||||||||||||||||
TDRs individually evaluated for impairment (a) | $ | 510 | $ | 2,020 | $ | 2,530 | ||||||||||
Other loans individually evaluated for impairment | 278 | 278 | ||||||||||||||
Loans collectively evaluated for impairment (b) | 128,611 | 67,627 | 196,238 | |||||||||||||
Fair value option loans (c) | 1,001 | 1,001 | ||||||||||||||
Purchased impaired loans | 276 | 4,399 | 4,675 | |||||||||||||
31-Mar | $ | 129,675 | $ | 75,047 | $ | 204,722 | ||||||||||
Portfolio segment ALLL as a percentage of total ALLL | 48 | % | 52 | % | 100 | % | ||||||||||
Ratio of the allowance for loan and lease losses to total loans | 1.23 | % | 2.28 | % | 1.61 | % | ||||||||||
31-Mar-14 | ||||||||||||||||
Allowance for Loan and Lease Losses | ||||||||||||||||
1-Jan | $ | 1,547 | $ | 2,062 | $ | 3,609 | ||||||||||
Charge-offs | -105 | -195 | -300 | |||||||||||||
Recoveries | 74 | 40 | 114 | |||||||||||||
Net charge-offs | -31 | -155 | -186 | |||||||||||||
Provision for credit losses | 18 | 76 | 94 | |||||||||||||
Net change in allowance for unfunded loan commitments and letters of credit | 16 | -2 | 14 | |||||||||||||
Other | -1 | -1 | ||||||||||||||
31-Mar | $ | 1,549 | $ | 1,981 | $ | 3,530 | ||||||||||
TDRs individually evaluated for impairment | $ | 33 | $ | 431 | $ | 464 | ||||||||||
Other loans individually evaluated for impairment | 133 | 133 | ||||||||||||||
Loans collectively evaluated for impairment | 1,260 | 725 | 1,985 | |||||||||||||
Purchased impaired loans | 123 | 825 | 948 | |||||||||||||
31-Mar | $ | 1,549 | $ | 1,981 | $ | 3,530 | ||||||||||
Loan Portfolio | ||||||||||||||||
TDRs individually evaluated for impairment (a) | $ | 576 | $ | 2,134 | $ | 2,710 | ||||||||||
Other loans individually evaluated for impairment | 588 | 588 | ||||||||||||||
Loans collectively evaluated for impairment (b) (c) | 119,040 | 68,937 | 187,977 | |||||||||||||
Fair value option loans (c) (d) | 1,143 | 1,143 | ||||||||||||||
Purchased impaired loans | 569 | 5,255 | 5,824 | |||||||||||||
31-Mar | $ | 120,773 | $ | 77,469 | $ | 198,242 | ||||||||||
Portfolio segment ALLL as a percentage of total ALLL | 44 | % | 56 | % | 100 | % | ||||||||||
Ratio of the allowance for loan and lease losses to total loans | 1.28 | % | 2.56 | % | 1.78 | % | ||||||||||
(a) | TDRs individually evaluated for impairment exclude TDRs that were subsequently accounted for as held for sale loans, but continue to be disclosed as TDRs. | |||||||||||||||
(b) | Includes $183 million of loans collectively evaluated for impairment based upon collateral values and written down to the respective collateral value less costs to sell at March, | |||||||||||||||
31, 2015. Accordingly, there is no allowance recorded for these loans. The comparative amount as of March 31, 2014 was $246 million. | ||||||||||||||||
(c) | Prior period amounts were corrected to include transferred loans over which PNC regained effective control as fair value option loans. This resulted in an increase of $93 million in consumer lending fair value option loans and a corresponding decrease of $93 million in consumer lending loans collectively evaluated for impairment. | |||||||||||||||
(d) | Loans accounted for under the fair value option are not evaluated for impairment as these loans are accounted for at fair value. Accordingly, there is no allowance recorded on these loans. | |||||||||||||||
Rollforward of Allowance for Unfunded Loan Commitments and Letters of Credit | Table 68: Rollforward of Allowance for Unfunded Loan Commitments and Letters of Credit | |||||||||||||||
In millions | 2015 | 2014 | ||||||||||||||
1-Jan | $ | 259 | $ | 242 | ||||||||||||
Net change in allowance for unfunded loan commitments and letters of credit | -25 | -14 | ||||||||||||||
31-Mar | $ | 234 | $ | 228 | ||||||||||||
Investment_Securities_Tables
Investment Securities (Tables) | 3 Months Ended | ||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||
Investment Securities Disclosure [Abstract] | |||||||||||||||||||||||
Investment Securities Summary | Note 6 Investment Securities | ||||||||||||||||||||||
Table 69: Investment Securities Summary | |||||||||||||||||||||||
Amortized | Unrealized | Fair | |||||||||||||||||||||
In millions | Cost | Gains | Losses | Value | |||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||||||
Debt securities | |||||||||||||||||||||||
U.S. Treasury and government agencies | $ | 5,293 | $ | 203 | $ | 5,496 | |||||||||||||||||
Residential mortgage-backed | |||||||||||||||||||||||
Agency | 20,844 | 451 | $ | -27 | 21,268 | ||||||||||||||||||
Non-agency | 4,557 | 305 | -98 | 4,764 | |||||||||||||||||||
Commercial mortgage-backed | |||||||||||||||||||||||
Agency | 2,118 | 30 | -5 | 2,143 | |||||||||||||||||||
Non-agency | 4,292 | 91 | -5 | 4,378 | |||||||||||||||||||
Asset-backed | 5,157 | 84 | -26 | 5,215 | |||||||||||||||||||
State and municipal | 2,003 | 86 | -3 | 2,086 | |||||||||||||||||||
Other debt | 1,817 | 52 | -3 | 1,866 | |||||||||||||||||||
Total debt securities | 46,081 | 1,302 | -167 | 47,216 | |||||||||||||||||||
Corporate stocks and other | 364 | -1 | 363 | ||||||||||||||||||||
Total securities available for sale | $ | 46,445 | $ | 1,302 | $ | -168 | $ | 47,579 | |||||||||||||||
Securities Held to Maturity (a) | |||||||||||||||||||||||
Debt securities | |||||||||||||||||||||||
U.S. Treasury and government agencies | $ | 251 | $ | 52 | $ | 303 | |||||||||||||||||
Residential mortgage-backed | |||||||||||||||||||||||
Agency | 7,558 | 188 | $ | -6 | 7,740 | ||||||||||||||||||
Non-agency | 262 | 15 | 277 | ||||||||||||||||||||
Commercial mortgage-backed | |||||||||||||||||||||||
Agency | 1,148 | 58 | 1,206 | ||||||||||||||||||||
Non-agency | 891 | 25 | 916 | ||||||||||||||||||||
Asset-backed | 747 | 2 | -7 | 742 | |||||||||||||||||||
State and municipal | 2,014 | 117 | 2,131 | ||||||||||||||||||||
Other debt | 318 | 7 | 325 | ||||||||||||||||||||
Total securities held to maturity | $ | 13,189 | $ | 464 | $ | -13 | $ | 13,640 | |||||||||||||||
31-Dec-14 | |||||||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||||||
Debt securities | |||||||||||||||||||||||
U.S. Treasury and government agencies | $ | 5,237 | $ | 186 | $ | -1 | $ | 5,422 | |||||||||||||||
Residential mortgage-backed | |||||||||||||||||||||||
Agency | 17,646 | 438 | -41 | 18,043 | |||||||||||||||||||
Non-agency | 4,723 | 318 | -99 | 4,942 | |||||||||||||||||||
Commercial mortgage-backed | |||||||||||||||||||||||
Agency | 2,178 | 23 | -14 | 2,187 | |||||||||||||||||||
Non-agency | 4,085 | 88 | -11 | 4,162 | |||||||||||||||||||
Asset-backed | 5,141 | 78 | -32 | 5,187 | |||||||||||||||||||
State and municipal | 1,953 | 88 | -3 | 2,038 | |||||||||||||||||||
Other debt | 1,776 | 43 | -6 | 1,813 | |||||||||||||||||||
Total debt securities | 42,739 | 1,262 | -207 | 43,794 | |||||||||||||||||||
Corporate stocks and other | 442 | -1 | 441 | ||||||||||||||||||||
Total securities available for sale | $ | 43,181 | $ | 1,262 | $ | -208 | $ | 44,235 | |||||||||||||||
Securities Held to Maturity (a) | |||||||||||||||||||||||
Debt securities | |||||||||||||||||||||||
U.S. Treasury and government agencies | $ | 248 | $ | 44 | $ | 292 | |||||||||||||||||
Residential mortgage-backed | |||||||||||||||||||||||
Agency | 5,736 | 166 | $ | -10 | 5,892 | ||||||||||||||||||
Non-agency | 270 | 13 | 283 | ||||||||||||||||||||
Commercial mortgage-backed | |||||||||||||||||||||||
Agency | 1,200 | 53 | 1,253 | ||||||||||||||||||||
Non-agency | 1,010 | 19 | 1,029 | ||||||||||||||||||||
Asset-backed | 759 | 2 | -8 | 753 | |||||||||||||||||||
State and municipal | 2,042 | 111 | 2,153 | ||||||||||||||||||||
Other debt | 323 | 6 | 329 | ||||||||||||||||||||
Total securities held to maturity | $ | 11,588 | $ | 414 | $ | -18 | $ | 11,984 | |||||||||||||||
(a) | Held to maturity securities transferred from available for sale are included in held to maturity at fair value at the time of transfer. The amortized cost of held to maturity securities included net unrealized gains of $118 million and $125 million at March 31, 2015 and December 31, 2014, respectively, related to securities transferred, which are offset in Accumulated Other Comprehensive Income, net of tax. | ||||||||||||||||||||||
Gross Unrealized Loss and Fair Value of Securities Available for Sale | Table 70: Gross Unrealized Loss and Fair Value of Securities Available for Sale | ||||||||||||||||||||||
Unrealized loss position less | Unrealized loss position 12 | ||||||||||||||||||||||
In millions | than 12 months | months or more | Total | ||||||||||||||||||||
Unrealized | Fair | Unrealized | Fair | Unrealized | Fair | ||||||||||||||||||
Loss | Value | Loss | Value | Loss | Value | ||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||
Debt securities | |||||||||||||||||||||||
U.S. Treasury and government agencies | (a) | $ | 365 | (a) | $ | 365 | |||||||||||||||||
Residential mortgage-backed | |||||||||||||||||||||||
Agency | $ | -9 | 2,484 | $ | -18 | $ | 1,421 | $ | -27 | 3,905 | |||||||||||||
Non-agency | -6 | 469 | -92 | 1,404 | -98 | 1,873 | |||||||||||||||||
Commercial mortgage-backed | |||||||||||||||||||||||
Agency | -1 | 259 | -4 | 140 | -5 | 399 | |||||||||||||||||
Non-agency | -4 | 889 | -1 | 299 | -5 | 1,188 | |||||||||||||||||
Asset-backed | -2 | 758 | -24 | 749 | -26 | 1,507 | |||||||||||||||||
State and municipal | -1 | 103 | -2 | 65 | -3 | 168 | |||||||||||||||||
Other debt | -1 | 111 | -2 | 135 | -3 | 246 | |||||||||||||||||
Total debt securities | -24 | 5,438 | -143 | 4,213 | -167 | 9,651 | |||||||||||||||||
Corporate stocks and other | -1 | 15 | -1 | 15 | |||||||||||||||||||
Total | $ | -24 | $ | 5,438 | $ | -144 | $ | 4,228 | $ | -168 | $ | 9,666 | |||||||||||
31-Dec-14 | |||||||||||||||||||||||
Debt securities | |||||||||||||||||||||||
U.S. Treasury and government agencies | $ | -1 | $ | 1,426 | $ | -1 | $ | 1,426 | |||||||||||||||
Residential mortgage-backed | |||||||||||||||||||||||
Agency | -4 | 644 | $ | -37 | $ | 1,963 | -41 | 2,607 | |||||||||||||||
Non-agency | -5 | 276 | -94 | 1,487 | -99 | 1,763 | |||||||||||||||||
Commercial mortgage-backed | |||||||||||||||||||||||
Agency | -2 | 681 | -12 | 322 | -14 | 1,003 | |||||||||||||||||
Non-agency | -4 | 928 | -7 | 335 | -11 | 1,263 | |||||||||||||||||
Asset-backed | -4 | 913 | -28 | 1,133 | -32 | 2,046 | |||||||||||||||||
State and municipal | (a) | 41 | -3 | 77 | -3 | 118 | |||||||||||||||||
Other debt | -2 | 314 | -4 | 186 | -6 | 500 | |||||||||||||||||
Total debt securities | -22 | 5,223 | -185 | 5,503 | -207 | 10,726 | |||||||||||||||||
Corporate stocks and other | -1 | 15 | -1 | 15 | |||||||||||||||||||
Total | $ | -22 | $ | 5,223 | $ | -186 | $ | 5,518 | $ | -208 | $ | 10,741 | |||||||||||
(a) | The unrealized loss on these securities was less than $.5 million. | ||||||||||||||||||||||
Rollforward of Cumulative OTTI Credit Losses Recognized in Earnings | Table 71: Rollforward of Cumulative OTTI Credit Losses Recognized in Earnings | ||||||||||||||||||||||
Three months ended March 31, | |||||||||||||||||||||||
In millions | 2015 | 2014 | |||||||||||||||||||||
Balance at beginning of period | $ | -1,164 | $ | -1,160 | |||||||||||||||||||
Additional loss where credit impairment was previously recognized | -1 | -2 | |||||||||||||||||||||
Reduction due to credit impaired securities sold or matured | 5 | ||||||||||||||||||||||
Balance at end of period | $ | -1,165 | $ | -1,157 | |||||||||||||||||||
Gains (Losses) on Sales Of Securities Available for Sale | Table 72: Gains (Losses) on Sales of Securities Available for Sale | ||||||||||||||||||||||
Gross | Gross | Net | Tax | ||||||||||||||||||||
In millions | Proceeds | Gains | Losses | Gains | Expense | ||||||||||||||||||
Three months ended March 31 | |||||||||||||||||||||||
2015 | $ | 1,804 | $ | 43 | $ | -1 | $ | 42 | $ | 15 | |||||||||||||
2014 | 1,361 | 16 | -6 | 10 | 4 | ||||||||||||||||||
Contractual Maturity of Debt Securities | Table 73: Contractual Maturity of Debt Securities | ||||||||||||||||||||||
31-Mar-15 | After 1 Year | After 5 Years | After 10 | ||||||||||||||||||||
Dollars in millions | 1 Year or Less | through 5 Years | through 10 Years | Years | Total | ||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||||||
U.S. Treasury and government agencies | $ | 2 | $ | 1,315 | $ | 3,480 | $ | 496 | $ | 5,293 | |||||||||||||
Residential mortgage-backed | |||||||||||||||||||||||
Agency | 113 | 794 | 19,937 | 20,844 | |||||||||||||||||||
Non-agency | 6 | 1 | 4,550 | 4,557 | |||||||||||||||||||
Commercial mortgage-backed | |||||||||||||||||||||||
Agency | 104 | 156 | 45 | 1,813 | 2,118 | ||||||||||||||||||
Non-agency | 87 | 4,205 | 4,292 | ||||||||||||||||||||
Asset-backed | 2 | 1,004 | 2,187 | 1,964 | 5,157 | ||||||||||||||||||
State and municipal | 4 | 145 | 300 | 1,554 | 2,003 | ||||||||||||||||||
Other debt | 147 | 1,141 | 339 | 190 | 1,817 | ||||||||||||||||||
Total debt securities available for sale | $ | 259 | $ | 3,967 | $ | 7,146 | $ | 34,709 | $ | 46,081 | |||||||||||||
Fair value | $ | 262 | $ | 4,066 | $ | 7,267 | $ | 35,621 | $ | 47,216 | |||||||||||||
Weighted-average yield, GAAP basis | 3.17 | % | 2.55 | % | 2.35 | % | 2.98 | % | 2.85 | % | |||||||||||||
Securities Held to Maturity | |||||||||||||||||||||||
U.S. Treasury and government agencies | $ | 251 | $ | 251 | |||||||||||||||||||
Residential mortgage-backed | |||||||||||||||||||||||
Agency | $ | 196 | 7,362 | 7,558 | |||||||||||||||||||
Non-agency | 262 | 262 | |||||||||||||||||||||
Commercial mortgage-backed | |||||||||||||||||||||||
Agency | $ | 945 | 144 | 59 | 1,148 | ||||||||||||||||||
Non-agency | 6 | 885 | 891 | ||||||||||||||||||||
Asset-backed | 13 | 407 | 327 | 747 | |||||||||||||||||||
State and municipal | 32 | 844 | 1,138 | 2,014 | |||||||||||||||||||
Other debt | 318 | 318 | |||||||||||||||||||||
Total debt securities held to maturity | $ | 996 | $ | 1,909 | $ | 10,284 | $ | 13,189 | |||||||||||||||
Fair value | $ | 1,039 | $ | 1,984 | $ | 10,617 | $ | 13,640 | |||||||||||||||
Weighted-average yield, GAAP basis | 3.47 | % | 3.2 | % | 3.57 | % | 3.51 | % | |||||||||||||||
Weighted-Average Expected Maturity of Mortgage and Other Asset-Backed Debt Securities | Table 74: Weighted-Average Expected Maturity of Mortgage and Other Asset-Backed Debt Securities | ||||||||||||||||||||||
31-Mar-15 | Years | ||||||||||||||||||||||
Agency residential mortgage-backed securities | 3.6 | ||||||||||||||||||||||
Non-agency residential mortgage-backed securities | 5.2 | ||||||||||||||||||||||
Agency commercial mortgage-backed securities | 3.4 | ||||||||||||||||||||||
Non-agency commercial mortgage-backed securities | 3.1 | ||||||||||||||||||||||
Asset-backed securities | 3.1 | ||||||||||||||||||||||
Fair Value of Securities Pledged and Accepted as Collateral | Table 75: Fair Value of Securities Pledged and Accepted as Collateral | ||||||||||||||||||||||
31-Mar | 31-Dec | ||||||||||||||||||||||
In millions | 2015 | 2014 | |||||||||||||||||||||
Pledged to others | $ | 10,523 | $ | 10,874 | |||||||||||||||||||
Accepted from others: | |||||||||||||||||||||||
Permitted by contract or custom to sell or repledge | 1,787 | 1,658 | |||||||||||||||||||||
Permitted amount repledged to others | 1,620 | 1,488 |
Fair_Value_Tables
Fair Value (Tables) | 3 Months Ended | |||||||||||||||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||||||||||||||
Fair Value [Abstract] | ||||||||||||||||||||||||||||||||||||||
Fair Value Measurements - Recurring Basis Summary | Table 76: Fair Value Measurements - Recurring Basis Summary | |||||||||||||||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||||||||||||||||||
Total | Total | |||||||||||||||||||||||||||||||||||||
In millions | Level 1 | Level 2 | Level 3 | Fair Value | Level 1 | Level 2 | Level 3 | Fair Value | ||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||
Securities available for sale | ||||||||||||||||||||||||||||||||||||||
U.S. Treasury and government agencies | $ | 4,867 | $ | 629 | $ | 5,496 | $ | 4,795 | $ | 627 | $ | 5,422 | ||||||||||||||||||||||||||
Residential mortgage-backed | ||||||||||||||||||||||||||||||||||||||
Agency | 21,268 | 21,268 | 18,043 | 18,043 | ||||||||||||||||||||||||||||||||||
Non-agency | 140 | $ | 4,624 | 4,764 | 144 | $ | 4,798 | 4,942 | ||||||||||||||||||||||||||||||
Commercial mortgage-backed | ||||||||||||||||||||||||||||||||||||||
Agency | 2,143 | 2,143 | 2,187 | 2,187 | ||||||||||||||||||||||||||||||||||
Non-agency | 4,378 | 4,378 | 4,162 | 4,162 | ||||||||||||||||||||||||||||||||||
Asset-backed | 4,667 | 548 | 5,215 | 4,624 | 563 | 5,187 | ||||||||||||||||||||||||||||||||
State and municipal | 1,953 | 133 | 2,086 | 1,904 | 134 | 2,038 | ||||||||||||||||||||||||||||||||
Other debt | 1,833 | 33 | 1,866 | 1,783 | 30 | 1,813 | ||||||||||||||||||||||||||||||||
Total debt securities | 4,867 | 37,011 | 5,338 | 47,216 | 4,795 | 33,474 | 5,525 | 43,794 | ||||||||||||||||||||||||||||||
Corporate stocks and other | 347 | 16 | 363 | 426 | 15 | 441 | ||||||||||||||||||||||||||||||||
Total securities available for sale | 5,214 | 37,027 | 5,338 | 47,579 | 5,221 | 33,489 | 5,525 | 44,235 | ||||||||||||||||||||||||||||||
Financial derivatives (a) (b) | ||||||||||||||||||||||||||||||||||||||
Interest rate contracts | 5 | 5,662 | 51 | 5,718 | 4 | 4,874 | 40 | 4,918 | ||||||||||||||||||||||||||||||
Other contracts | 532 | 3 | 535 | 314 | 2 | 316 | ||||||||||||||||||||||||||||||||
Total financial derivatives | 5 | 6,194 | 54 | 6,253 | 4 | 5,188 | 42 | 5,234 | ||||||||||||||||||||||||||||||
Residential mortgage loans held for sale (c) | 1,225 | 7 | 1,232 | 1,255 | 6 | 1,261 | ||||||||||||||||||||||||||||||||
Trading securities (d) | ||||||||||||||||||||||||||||||||||||||
Debt (e) | 1,046 | 1,081 | 3 | 2,130 | 1,340 | 960 | 32 | 2,332 | ||||||||||||||||||||||||||||||
Equity | 21 | 21 | 21 | 21 | ||||||||||||||||||||||||||||||||||
Total trading securities | 1,067 | 1,081 | 3 | 2,151 | 1,361 | 960 | 32 | 2,353 | ||||||||||||||||||||||||||||||
Trading loans (a) | 32 | 2 | 34 | 30 | 7 | 37 | ||||||||||||||||||||||||||||||||
Residential mortgage servicing rights (f) | 839 | 839 | 845 | 845 | ||||||||||||||||||||||||||||||||||
Commercial mortgage servicing rights (f) | 494 | 494 | 506 | 506 | ||||||||||||||||||||||||||||||||||
Commercial mortgage loans held for sale (c) | 975 | 975 | 893 | 893 | ||||||||||||||||||||||||||||||||||
Equity investments (a) | ||||||||||||||||||||||||||||||||||||||
Direct investments | 1,149 | 1,149 | 1,152 | 1,152 | ||||||||||||||||||||||||||||||||||
Indirect investments (g) | 442 | 442 | 469 | 469 | ||||||||||||||||||||||||||||||||||
Total equity investments | 1,591 | 1,591 | 1,621 | 1,621 | ||||||||||||||||||||||||||||||||||
Customer resale agreements (h) | 151 | 151 | 155 | 155 | ||||||||||||||||||||||||||||||||||
Loans (i) | 618 | 383 | 1,001 | 637 | 397 | 1,034 | ||||||||||||||||||||||||||||||||
Other assets (a) | ||||||||||||||||||||||||||||||||||||||
BlackRock Series C Preferred Stock (j) | 384 | 384 | 375 | 375 | ||||||||||||||||||||||||||||||||||
Other | 242 | 180 | 8 | 430 | 190 | 226 | 8 | 424 | ||||||||||||||||||||||||||||||
Total other assets | 242 | 180 | 392 | 814 | 190 | 226 | 383 | 799 | ||||||||||||||||||||||||||||||
Total assets | $ | 6,528 | $ | 46,508 | $ | 10,078 | $ | 63,114 | $ | 6,776 | $ | 41,940 | $ | 10,257 | $ | 58,973 | ||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||
Financial derivatives (b) (k) | ||||||||||||||||||||||||||||||||||||||
Interest rate contracts | $ | 3 | $ | 3,823 | $ | 16 | $ | 3,842 | $ | 3,260 | $ | 12 | $ | 3,272 | ||||||||||||||||||||||||
BlackRock LTIP | 384 | 384 | 375 | 375 | ||||||||||||||||||||||||||||||||||
Other contracts | 389 | 129 | 518 | 241 | 139 | 380 | ||||||||||||||||||||||||||||||||
Total financial derivatives | 3 | 4,212 | 529 | 4,744 | 3,501 | 526 | 4,027 | |||||||||||||||||||||||||||||||
Trading securities sold short (l) | ||||||||||||||||||||||||||||||||||||||
Debt | 1,667 | 15 | 1,682 | $ | 1,479 | 11 | 1,490 | |||||||||||||||||||||||||||||||
Total trading securities sold short | 1,667 | 15 | 1,682 | 1,479 | 11 | 1,490 | ||||||||||||||||||||||||||||||||
Other borrowed funds (l) | 67 | 171 | 238 | 92 | 181 | 273 | ||||||||||||||||||||||||||||||||
Other liabilities (k) | 4 | 10 | 14 | 9 | 9 | |||||||||||||||||||||||||||||||||
Total liabilities | $ | 1,670 | $ | 4,298 | $ | 710 | $ | 6,678 | $ | 1,479 | $ | 3,604 | $ | 716 | $ | 5,799 | ||||||||||||||||||||||
(a) | Included in Other assets on our Consolidated Balance Sheet. | |||||||||||||||||||||||||||||||||||||
(b) | Amounts at March 31, 2015 and December 31, 2014 are presented gross and are not reduced by the impact of legally enforceable master netting agreements that allow PNC to net positive and negative positions and cash collateral held or placed with the same counterparty. The net asset amounts were $3.4 billion at March 31, 2015 and $2.6 billion at December 31, 2014, and the net liability amounts were $1.9 billion and $1.4 billion, respectively. | |||||||||||||||||||||||||||||||||||||
(c) | Included in Loans held for sale on our Consolidated Balance Sheet. PNC has elected the fair value option for certain residential and commercial mortgage loans held for sale. | |||||||||||||||||||||||||||||||||||||
(d) | Fair value includes net unrealized gains of $50 million at March 31, 2015 compared with net unrealized gains of $54 million at December 31, 2014. | |||||||||||||||||||||||||||||||||||||
(e) | Approximately 33% of these securities are residential mortgage-backed securities and 49% are U.S. Treasury and government agencies securities at March 31, 2015. Comparable amounts at December 31, 2014 were 34% and 57%, respectively. | |||||||||||||||||||||||||||||||||||||
(f) | Included in Other intangible assets on our Consolidated Balance Sheet. | |||||||||||||||||||||||||||||||||||||
(g) | The indirect equity funds are not redeemable, but PNC receives distributions over the life of the partnership from liquidation of the underlying investments by the investee, which we expect to occur over the next twelve years. The amount of unfunded contractual commitments as of March 31, 2015 related to indirect equity investments was $121 million and related to direct equity investments was $26 million, respectively. Comparable amounts at December 31, 2014 were $112 million and $28 million, respectively. | |||||||||||||||||||||||||||||||||||||
(h) | Included in Federal funds sold and resale agreements on our Consolidated Balance Sheet. PNC has elected the fair value option for these items. | |||||||||||||||||||||||||||||||||||||
(i) | Included in Loans on our Consolidated Balance Sheet. | |||||||||||||||||||||||||||||||||||||
(j) | PNC has elected the fair value option for these shares. | |||||||||||||||||||||||||||||||||||||
(k) | Included in Other liabilities on our Consolidated Balance Sheet. | |||||||||||||||||||||||||||||||||||||
(l) | Included in Other borrowed funds on our Consolidated Balance Sheet. | |||||||||||||||||||||||||||||||||||||
Reconciliation of Level 3 Assets and Liabilities | Reconciliations of assets and liabilities measured at fair value on a recurring basis using Level 3 inputs for 2015 and 2014 follow. | |||||||||||||||||||||||||||||||||||||
Table 77: Reconciliation of Level 3 Assets and Liabilities | ||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | ||||||||||||||||||||||||||||||||||||||
Unrealized | ||||||||||||||||||||||||||||||||||||||
Total realized / unrealized | gains (losses) | |||||||||||||||||||||||||||||||||||||
gains or losses for the period (a) | on assets and | |||||||||||||||||||||||||||||||||||||
Included | liabilities held on | |||||||||||||||||||||||||||||||||||||
Level 3 Instruments | Fair Value | in Other | Transfers | Transfers | Fair Value | Consolidated | ||||||||||||||||||||||||||||||||
Only | Dec. 31, | Included in | comprehensive | into | out of | Mar. 31, | Balance Sheet | |||||||||||||||||||||||||||||||
In millions | 2014 | Earnings | income | Purchases | Sales | Issuances | Settlements | Level 3 (b) | Level 3 (b) | 2015 | at Mar. 31, 2015 (c) | |||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||
Securities available for | ||||||||||||||||||||||||||||||||||||||
sale | ||||||||||||||||||||||||||||||||||||||
Residential mortgage- | ||||||||||||||||||||||||||||||||||||||
backed non-agency | $ | 4,798 | $ | 25 | $ | -14 | $ | -185 | $ | 4,624 | $ | -1 | ||||||||||||||||||||||||||
Commercial mortgage | ||||||||||||||||||||||||||||||||||||||
backed non-agency | 7 | -7 | ||||||||||||||||||||||||||||||||||||
Asset-backed | 563 | 6 | 4 | -25 | 548 | |||||||||||||||||||||||||||||||||
State and municipal | 134 | -1 | 133 | |||||||||||||||||||||||||||||||||||
Other debt | 30 | 1 | $ | 3 | -1 | 33 | ||||||||||||||||||||||||||||||||
Total securities | ||||||||||||||||||||||||||||||||||||||
available for sale | 5,525 | 39 | -11 | 3 | -218 | 5,338 | -1 | |||||||||||||||||||||||||||||||
Financial derivatives | 42 | 71 | 1 | -60 | 54 | 59 | ||||||||||||||||||||||||||||||||
Residential mortgage | ||||||||||||||||||||||||||||||||||||||
loans held for sale | 6 | 6 | $ | 1 | $ | -6 | 7 | |||||||||||||||||||||||||||||||
Trading securities - Debt | 32 | -29 | 3 | |||||||||||||||||||||||||||||||||||
Trading loans | 7 | $ | -5 | 2 | ||||||||||||||||||||||||||||||||||
Residential mortgage | ||||||||||||||||||||||||||||||||||||||
servicing rights | 845 | -67 | 83 | $ | 17 | -39 | 839 | -65 | ||||||||||||||||||||||||||||||
Commercial mortgage | ||||||||||||||||||||||||||||||||||||||
servicing rights | 506 | -16 | 11 | 14 | -21 | 494 | -16 | |||||||||||||||||||||||||||||||
Commercial mortgage | ||||||||||||||||||||||||||||||||||||||
loans held for sale | 893 | 21 | 1,083 | -1,022 | 975 | 15 | ||||||||||||||||||||||||||||||||
Equity investments | ||||||||||||||||||||||||||||||||||||||
Direct investments | 1,152 | 29 | 43 | -75 | 1,149 | 18 | ||||||||||||||||||||||||||||||||
Indirect investments | 469 | 14 | 3 | -44 | 442 | 13 | ||||||||||||||||||||||||||||||||
Total equity | ||||||||||||||||||||||||||||||||||||||
investments | 1,621 | 43 | 46 | -119 | 1,591 | 31 | ||||||||||||||||||||||||||||||||
Loans | 397 | 10 | 32 | -4 | -37 | 5 | -20 | 383 | 8 | |||||||||||||||||||||||||||||
Other assets | ||||||||||||||||||||||||||||||||||||||
BlackRock Series C | ||||||||||||||||||||||||||||||||||||||
Preferred Stock | 375 | 9 | 384 | 9 | ||||||||||||||||||||||||||||||||||
Other | 8 | 8 | ||||||||||||||||||||||||||||||||||||
Total other assets | 383 | 9 | 392 | 9 | ||||||||||||||||||||||||||||||||||
Total assets | $ | 10,257 | $ | 110 | (e) | $ | -11 | $ | 182 | $ | -128 | $ | 1,114 | $ | -1,426 | $ | 6 | $ | -26 | $ | 10,078 | $ | 40 | (f) | ||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||
Financial derivatives (d) | $ | 526 | $ | 41 | $ | -38 | $ | 529 | $ | -6 | ||||||||||||||||||||||||||||
Other borrowed funds | 181 | $ | 25 | -35 | 171 | |||||||||||||||||||||||||||||||||
Other liabilities | 9 | 1 | 10 | |||||||||||||||||||||||||||||||||||
Total liabilities | $ | 716 | $ | 42 | (e) | $ | 25 | $ | -73 | $ | 710 | $ | -6 | (f) | ||||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||||||||||||||||
Unrealized | ||||||||||||||||||||||||||||||||||||||
Total realized / unrealized | gains (losses) | |||||||||||||||||||||||||||||||||||||
gains or losses for the period (a) | on assets and | |||||||||||||||||||||||||||||||||||||
Included | liabilities held | |||||||||||||||||||||||||||||||||||||
Level 3 Instruments | Fair Value | in Other | Transfers | Transfers | Fair Value | on Consolidated | ||||||||||||||||||||||||||||||||
Only | Dec. 31, | Included in | comprehensive | into | out of | Mar. 31, | Balance Sheet | |||||||||||||||||||||||||||||||
In millions | 2013 | Earnings | income | Purchases | Sales | Issuances | Settlements | Level 3 (b) | Level 3 (b) | 2014 | at Mar. 31, 2014 (c) | |||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||
Securities available for | ||||||||||||||||||||||||||||||||||||||
sale | ||||||||||||||||||||||||||||||||||||||
Residential mortgage- | ||||||||||||||||||||||||||||||||||||||
backed non-agency | $ | 5,358 | $ | 34 | $ | 54 | $ | -212 | $ | 5,234 | $ | -2 | ||||||||||||||||||||||||||
Asset-backed | 641 | 4 | 19 | -22 | 642 | |||||||||||||||||||||||||||||||||
State and municipal | 333 | -2 | 1 | -1 | 331 | |||||||||||||||||||||||||||||||||
Other debt | 38 | 1 | $ | -6 | -1 | 32 | ||||||||||||||||||||||||||||||||
Total securities | ||||||||||||||||||||||||||||||||||||||
available for sale | 6,370 | 37 | 74 | -6 | -236 | 6,239 | -2 | |||||||||||||||||||||||||||||||
Financial derivatives | 36 | 60 | -66 | 30 | 52 | |||||||||||||||||||||||||||||||||
Residential mortgage | ||||||||||||||||||||||||||||||||||||||
loans held for sale | 8 | $ | 5 | -2 | $ | 3 | $ | -9 | 5 | |||||||||||||||||||||||||||||
Trading securities - Debt | 32 | 32 | ||||||||||||||||||||||||||||||||||||
Residential mortgage | ||||||||||||||||||||||||||||||||||||||
servicing rights | 1,087 | -59 | 17 | $ | 23 | -29 | 1,039 | -58 | ||||||||||||||||||||||||||||||
Commercial mortgage | ||||||||||||||||||||||||||||||||||||||
servicing rights | -14 | 7 | 7 | 529 | (g) | 529 | -14 | |||||||||||||||||||||||||||||||
Commercial mortgage | ||||||||||||||||||||||||||||||||||||||
loans held for sale | 586 | 2 | -11 | 577 | 2 | |||||||||||||||||||||||||||||||||
Equity investments | ||||||||||||||||||||||||||||||||||||||
Direct investments | 1,069 | 34 | 69 | -9 | 1,163 | 33 | ||||||||||||||||||||||||||||||||
Indirect investments | 595 | 18 | 6 | -26 | 1 | 594 | 17 | |||||||||||||||||||||||||||||||
Total equity | ||||||||||||||||||||||||||||||||||||||
investments | 1,664 | 52 | 75 | -35 | 1 | 1,757 | 50 | |||||||||||||||||||||||||||||||
Loans (h) | 527 | 9 | -1 | -6 | -21 | 39 | -29 | 518 | 6 | |||||||||||||||||||||||||||||
Other assets | ||||||||||||||||||||||||||||||||||||||
BlackRock Series C | ||||||||||||||||||||||||||||||||||||||
Preferred Stock | 332 | -2 | 330 | -2 | ||||||||||||||||||||||||||||||||||
Other | 8 | 8 | ||||||||||||||||||||||||||||||||||||
Total other assets | 340 | -2 | 338 | -2 | ||||||||||||||||||||||||||||||||||
Total assets | $ | 10,650 | $ | 85 | (e) | $ | 74 | $ | 103 | $ | -49 | $ | 30 | $ | 167 | $ | 42 | $ | -38 | $ | 11,064 | $ | 34 | (f) | ||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||
Financial derivatives (d) | $ | 439 | $ | 40 | $ | 1 | $ | -40 | $ | 440 | $ | -4 | ||||||||||||||||||||||||||
Other borrowed funds (h) | 199 | 4 | $ | 9 | -19 | 193 | ||||||||||||||||||||||||||||||||
Total liabilities | $ | 638 | $ | 44 | (e) | $ | 1 | $ | 9 | $ | -59 | $ | 633 | $ | -4 | (f) | ||||||||||||||||||||||
(a) | Losses for assets are bracketed while losses for liabilities are not. | |||||||||||||||||||||||||||||||||||||
(b) | PNC's policy is to recognize transfers in and transfers out as of the end of the reporting period. | |||||||||||||||||||||||||||||||||||||
(c) | The amount of the total gains or losses for the period included in earnings that is attributable to the change in unrealized gains or losses related to those assets and liabilities held at the end of the reporting period. | |||||||||||||||||||||||||||||||||||||
(d) | Includes swaps entered into in connection with sales of certain Visa Class B common shares. | |||||||||||||||||||||||||||||||||||||
(e) | Net gains (realized and unrealized) included in earnings relating to Level 3 assets and liabilities were $68 million for the first three months of 2015 compared with net gains (realized and unrealized) of $41 million for the first three months of 2014. These amounts also included amortization and accretion of $40 million for the first three months of 2015 compared with $41 million for the first three months of 2014. The amortization and accretion amounts were included in Interest income on the Consolidated Income Statement and the remaining net gains/(losses) (realized and unrealized) were included in Noninterest income on the Consolidated Income Statement. | |||||||||||||||||||||||||||||||||||||
(f) | Net unrealized gains relating to those assets and liabilities held at the end of the reporting period were $46 million for the first three months of 2015, compared with net unrealized gains of $38 million for the first three months of 2014. These amounts were included in Noninterest income on the Consolidated Income Statement. | |||||||||||||||||||||||||||||||||||||
(g) | Settlements relating to commercial MSRs include $552 million, which represents the fair value as of January 1, 2014 as a result of an irrevocable election to measure all classes of commercial MSRs at fair value. Refer to Note 8 Goodwill and Other Intangible Assets in our Notes To Consolidated Financial Statements under Item 8 of our 2014 Form 10-K for additional information on this election. | |||||||||||||||||||||||||||||||||||||
(h) | These line items were corrected for the three months ended March 31, 2014 to include transferred loans over which PNC regained effective control and the related liabilities that are recorded pursuant to ASC 860. | |||||||||||||||||||||||||||||||||||||
Fair Value Measurements - Recurring Quantitative Information | Quantitative information about the significant unobservable inputs within Level 3 recurring assets and liabilities follows. | |||||||||||||||||||||||||||||||||||||
Table 78: Fair Value Measurements - Recurring Quantitative Information | ||||||||||||||||||||||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||||||||||||||||||||
Level 3 Instruments Only | ||||||||||||||||||||||||||||||||||||||
Dollars in millions | Fair Value | Valuation Techniques | Unobservable Inputs | Range (Weighted Average) | ||||||||||||||||||||||||||||||||||
Residential mortgage-backed | ||||||||||||||||||||||||||||||||||||||
non-agency securities | $ | 4,624 | Priced by a third-party vendor | Constant prepayment rate (CPR) | 1.0%-24.2% (6.9%) | (a) | ||||||||||||||||||||||||||||||||
using a discounted cash flow | Constant default rate (CDR) | 0%-16.7% (5.4%) | (a) | |||||||||||||||||||||||||||||||||||
pricing model (a) | Loss severity | 1.0%-100.0% (53.2%) | (a) | |||||||||||||||||||||||||||||||||||
Spread over the benchmark curve (b) | 260bps weighted average | (a) | ||||||||||||||||||||||||||||||||||||
Asset-backed securities | 548 | Priced by a third-party vendor | Constant prepayment rate (CPR) | 1.0%-15.7% (6.2%) | (a) | |||||||||||||||||||||||||||||||||
using a discounted cash flow | Constant default rate (CDR) | 1.7%-13.9% (7.2%) | (a) | |||||||||||||||||||||||||||||||||||
pricing model (a) | Loss severity | 14.6%-100% (75.5%) | (a) | |||||||||||||||||||||||||||||||||||
Spread over the benchmark curve (b) | 339bps weighted average | (a) | ||||||||||||||||||||||||||||||||||||
State and municipal securities | 131 | Discounted cash flow | Spread over the benchmark curve (b) | 50bps-215bps (67bps) | ||||||||||||||||||||||||||||||||||
2 | Consensus pricing (c) | Credit and Liquidity discount | 0%-30.0% (18.0%) | |||||||||||||||||||||||||||||||||||
Other debt securities | 33 | Consensus pricing (c) | Credit and Liquidity discount | 7.0%-100.0% (88.6%) | ||||||||||||||||||||||||||||||||||
Residential mortgage servicing rights | 839 | Discounted cash flow | Constant prepayment rate (CPR) | 0.3%-38.8% (12.4%) | ||||||||||||||||||||||||||||||||||
Spread over the benchmark curve (b) | 708bps-1,880bps (985bps) | |||||||||||||||||||||||||||||||||||||
Commercial mortgage servicing | 494 | Discounted cash flow | Constant prepayment rate (CPR) | 6.4%-20.0% (7.5%) | ||||||||||||||||||||||||||||||||||
rights | Discount rate | 1.1%-8.8% (6.5%) | ||||||||||||||||||||||||||||||||||||
Commercial mortgage loans held | 975 | Discounted cash flow | Spread over the benchmark curve (b) | 29bps-4,720bps (498bps) | ||||||||||||||||||||||||||||||||||
for sale | Estimated servicing cash flows | 0.0%-2.0% (1.6%) | ||||||||||||||||||||||||||||||||||||
Equity investments - Direct investments | 1,149 | Multiple of adjusted earnings | Multiple of earnings | 3.3x-13.9x (7.6x) | ||||||||||||||||||||||||||||||||||
Equity investments - Indirect (d) | 442 | Net asset value | Net asset value | |||||||||||||||||||||||||||||||||||
Loans - Residential real estate | 121 | Consensus pricing (c) | Cumulative default rate | 2.0%-100% (86.7%) | ||||||||||||||||||||||||||||||||||
Loss severity | 0%-100% (30.9%) | |||||||||||||||||||||||||||||||||||||
Discount rate | 4.9%-6.9% (5.0%) | |||||||||||||||||||||||||||||||||||||
138 | Discounted cash flow | Loss severity | 8.0% weighted average | |||||||||||||||||||||||||||||||||||
Discount rate | 3.5% weighted average | |||||||||||||||||||||||||||||||||||||
Loans - Home equity | 124 | Consensus pricing (c) | Credit and Liquidity discount | 26.0%-99.0% (52.0%) | ||||||||||||||||||||||||||||||||||
BlackRock Series C Preferred Stock | 384 | Consensus pricing (c) | Liquidity discount | 20.00% | ||||||||||||||||||||||||||||||||||
BlackRock LTIP | -384 | Consensus pricing (c) | Liquidity discount | 20.00% | ||||||||||||||||||||||||||||||||||
Swaps related to sales of certain Visa | -124 | Discounted cash flow | Estimated conversion factor of | |||||||||||||||||||||||||||||||||||
Class B common shares | Class B shares into Class A shares | 164.30% | (e) | |||||||||||||||||||||||||||||||||||
Estimated growth rate of Visa | ||||||||||||||||||||||||||||||||||||||
Class A share price | 16.10% | |||||||||||||||||||||||||||||||||||||
Other borrowed funds - non-agency | ||||||||||||||||||||||||||||||||||||||
securitization | -160 | Consensus pricing (c) | Credit and Liquidity discount | 0%-99.0% (19.0%) | ||||||||||||||||||||||||||||||||||
Spread over the benchmark curve (b) | 106bps | |||||||||||||||||||||||||||||||||||||
Insignificant Level 3 assets, net of | ||||||||||||||||||||||||||||||||||||||
liabilities (f) | 32 | |||||||||||||||||||||||||||||||||||||
Total Level 3 assets, net of liabilities (g) | $ | 9,368 | ||||||||||||||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||||||||||||
Level 3 Instruments Only | ||||||||||||||||||||||||||||||||||||||
Dollars in millions | Fair Value | Valuation Techniques | Unobservable Inputs | Range (Weighted Average) | ||||||||||||||||||||||||||||||||||
Residential mortgage-backed | ||||||||||||||||||||||||||||||||||||||
non-agency securities | $ | 4,798 | Priced by a third-party vendor | Constant prepayment rate (CPR) | 1.0%-28.9% (6.8%) | (a) | ||||||||||||||||||||||||||||||||
using a discounted cash flow | Constant default rate (CDR) | 0.0%-16.7% (5.6%) | (a) | |||||||||||||||||||||||||||||||||||
pricing model (a) | Loss severity | 6.1%-100.0% (53.1%) | (a) | |||||||||||||||||||||||||||||||||||
Spread over the benchmark curve (b) | 249bps weighted average | (a) | ||||||||||||||||||||||||||||||||||||
Asset-backed securities | 563 | Priced by a third-party vendor | Constant prepayment rate (CPR) | 1.0%-15.7% (5.9%) | (a) | |||||||||||||||||||||||||||||||||
using a discounted cash flow | Constant default rate (CDR) | 1.7%-13.9% (7.6%) | (a) | |||||||||||||||||||||||||||||||||||
pricing model (a) | Loss severity | 14.6%-100.0% (73.5%) | (a) | |||||||||||||||||||||||||||||||||||
Spread over the benchmark curve (b) | 352bps weighted average | (a) | ||||||||||||||||||||||||||||||||||||
State and municipal securities | 132 | Discounted cash flow | Spread over the benchmark curve (b) | 55bps-165bps (67bps) | ||||||||||||||||||||||||||||||||||
2 | Consensus pricing (c) | Credit and Liquidity discount | 0.0%-20.0% (14.9%) | |||||||||||||||||||||||||||||||||||
Other debt securities | 30 | Consensus pricing (c) | Credit and Liquidity discount | 7.0%-95.0% (88.6%) | ||||||||||||||||||||||||||||||||||
Trading securities - Debt | 32 | Consensus pricing (c) | Credit and Liquidity discount | 0.0%-15.0% (8.0%) | ||||||||||||||||||||||||||||||||||
Residential mortgage servicing rights | 845 | Discounted cash flow | Constant prepayment rate (CPR) | 3.8%-32.7% (11.2%) | ||||||||||||||||||||||||||||||||||
Spread over the benchmark curve (b) | 889bps-1,888bps (1,036bps) | |||||||||||||||||||||||||||||||||||||
Commercial mortgage servicing rights | 506 | Discounted cash flow | Constant prepayment rate (CPR) | 7.0%-16.8% (8.0%) | ||||||||||||||||||||||||||||||||||
Discount rate | 2.5%-8.6% (6.6%) | |||||||||||||||||||||||||||||||||||||
Commercial mortgage loans held | ||||||||||||||||||||||||||||||||||||||
for sale | 893 | Discounted cash flow | Spread over the benchmark curve (b) | 37bps-4,025bps (549bps) | ||||||||||||||||||||||||||||||||||
Estimated servicing cash flows | 0.0%-2.0% (1.2%) | |||||||||||||||||||||||||||||||||||||
Equity investments - Direct investments | 1,152 | Multiple of adjusted earnings | Multiple of earnings | 3.2x-13.9x (7.7x) | ||||||||||||||||||||||||||||||||||
Equity investments - Indirect (d) | 469 | Net asset value | Net asset value | |||||||||||||||||||||||||||||||||||
Loans - Residential real estate | 114 | Consensus pricing (c) | Cumulative default rate | 2.0%-100.0% (90.5%) | ||||||||||||||||||||||||||||||||||
Loss severity | 0.0%-100.0% (35.6%) | |||||||||||||||||||||||||||||||||||||
Discount rate | 5.4%-7.0% (6.4%) | |||||||||||||||||||||||||||||||||||||
154 | Discounted cash flow | Loss severity | 8.0% weighted average | |||||||||||||||||||||||||||||||||||
Discount rate | 3.4% weighted average | |||||||||||||||||||||||||||||||||||||
Loans - Home equity | 129 | Consensus pricing (c) | Credit and Liquidity discount | 26.0%-99.0% (51.0%) | ||||||||||||||||||||||||||||||||||
BlackRock Series C Preferred Stock | 375 | Consensus pricing (c) | Liquidity discount | 20.00% | ||||||||||||||||||||||||||||||||||
BlackRock LTIP | -375 | Consensus pricing (c) | Liquidity discount | 20.00% | ||||||||||||||||||||||||||||||||||
Swaps related to sales of certain | -135 | Discounted cash flow | Estimated conversion factor of | |||||||||||||||||||||||||||||||||||
Visa Class B common shares | Class B shares into Class A shares | 41.10% | ||||||||||||||||||||||||||||||||||||
Estimated growth rate of Visa Class | ||||||||||||||||||||||||||||||||||||||
A share price | 14.80% | |||||||||||||||||||||||||||||||||||||
Other borrowed funds - non-agency | ||||||||||||||||||||||||||||||||||||||
securitization | -166 | Consensus pricing (c) | Credit and Liquidity discount | 0.0%-99.0% (18.0%) | ||||||||||||||||||||||||||||||||||
Spread over the benchmark curve (b) | 113bps | |||||||||||||||||||||||||||||||||||||
Insignificant Level 3 assets, net of | ||||||||||||||||||||||||||||||||||||||
liabilities (f) | 23 | |||||||||||||||||||||||||||||||||||||
Total Level 3 assets, net of liabilities (g) | $ | 9,541 | ||||||||||||||||||||||||||||||||||||
(a) | Level 3 residential mortgage-backed non-agency and asset-backed securities with fair values as of March 31, 2015 totaling $3,881 million and $516 million, respectively, were priced by a third-party vendor using a discounted cash flow pricing model that incorporates consensus pricing, where available. The comparable amounts as of December 31, 2014 were $4,081 million and $532 million, respectively. The significant unobservable inputs for these securities were provided by the third-party vendor and are disclosed in the table. Our procedures to validate the prices provided by the third-party vendor related to these securities are discussed further in the Fair Value Measurement section of Note 7 Fair Value in our Notes to Consolidated Financial Statements under Item 8 of our 2014 Form 10-K. Certain Level 3 residential mortgage-backed non-agency and asset-backed securities with fair values as of March 31, 2015 of $743 million and $32 million, respectively, were valued using a pricing source, such as a dealer quote or comparable security price, for which the significant unobservable inputs used to determine the price were not reasonably available. The comparable amounts as of December 31, 2014 were $717 million and $31 million, respectively. | |||||||||||||||||||||||||||||||||||||
(b) | The assumed yield spread over the benchmark curve for each instrument is generally intended to incorporate non-interest-rate risks, such as credit and liquidity risks. | |||||||||||||||||||||||||||||||||||||
(c) | Consensus pricing refers to fair value estimates that are generally internally developed using information such as dealer quotes or other third-party provided valuations or comparable asset prices. | |||||||||||||||||||||||||||||||||||||
(d) | The range on these indirect equity investments has not been disclosed since these investments are recorded at their net asset redemption values. | |||||||||||||||||||||||||||||||||||||
(e) | This conversion factor reflects the 4-for-1 split of Visa Class A common shares, which occurred during the first quarter of 2015. | |||||||||||||||||||||||||||||||||||||
(f) | Represents the aggregate amount of Level 3 assets and liabilities measured at fair value on a recurring basis that are individually and in the aggregate insignificant. The amount includes certain financial derivative assets and liabilities, trading securities, residential mortgage loans held for sale, trading loans, other assets, other borrowed funds (ROAPs) and other liabilities. For additional information, please see the Fair Value Measurement discussion included in Note 7 Fair Value in our Notes To Consolidated Financial Statements under Item 8 of our 2014 Form 10-K. | |||||||||||||||||||||||||||||||||||||
(g) | Consisted of total Level 3 assets of $10,078 million and total Level 3 liabilities of $710 million as of March 31, 2015 and $10,257 million and $716 million as of December 31, 2014, respectively. | |||||||||||||||||||||||||||||||||||||
Fair Value Measurements - Nonrecurring | Table 79: Fair Value Measurements - Nonrecurring | |||||||||||||||||||||||||||||||||||||
Gains (Losses) | ||||||||||||||||||||||||||||||||||||||
Fair Value (a) | Three months ended | |||||||||||||||||||||||||||||||||||||
31-Mar | 31-Dec | 31-Mar | 31-Mar | |||||||||||||||||||||||||||||||||||
In millions | 2015 | 2014 | 2015 | 2014 | ||||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||
Nonaccrual loans | $ | 53 | $ | 54 | $ | 3 | $ | -8 | ||||||||||||||||||||||||||||||
Loans held for sale | 8 | -2 | ||||||||||||||||||||||||||||||||||||
Equity investments | 22 | 17 | -1 | |||||||||||||||||||||||||||||||||||
OREO and foreclosed assets | 81 | 168 | -10 | -12 | ||||||||||||||||||||||||||||||||||
Long-lived assets held for sale | 13 | 22 | -8 | -4 | ||||||||||||||||||||||||||||||||||
Total assets | $ | 169 | $ | 269 | $ | -16 | $ | -26 | ||||||||||||||||||||||||||||||
(a) | All Level 3 as of March 31, 2015 and December 31, 2014 except for $8 million included in Loans held for sale which was categorized as Level 2 as of December 31, 2014. | |||||||||||||||||||||||||||||||||||||
Fair Value Measurements - Nonrecurring Quantitative Information | Quantitative information about the significant unobservable inputs within Level 3 nonrecurring assets follows. | |||||||||||||||||||||||||||||||||||||
Table 80: Fair Value Measurements - Nonrecurring Quantitative Information | ||||||||||||||||||||||||||||||||||||||
Level 3 Instruments Only | ||||||||||||||||||||||||||||||||||||||
Dollars in millions | Fair Value | Valuation Techniques | Unobservable Inputs | Range (Weighted Average) | ||||||||||||||||||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||
Nonaccrual loans (a) | $ | 40 | LGD percentage (b) | Loss severity | 3.9%-70.4% (32.6%) | |||||||||||||||||||||||||||||||||
Equity investments | 22 | Discounted cash flow | Market rate of return | 6.00% | ||||||||||||||||||||||||||||||||||
Other (c) | 107 | Fair value of property or collateral | Appraised value/sales price | Not meaningful | ||||||||||||||||||||||||||||||||||
Total assets | $ | 169 | ||||||||||||||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||
Nonaccrual loans (a) | $ | 29 | LGD percentage (b) | Loss severity | 2.9%-68.5% (42.1%) | |||||||||||||||||||||||||||||||||
Equity investments | 17 | Discounted cash flow | Market rate of return | 6.00% | ||||||||||||||||||||||||||||||||||
Other (c) | 215 | Fair value of property or collateral | Appraised value/sales price | Not meaningful | ||||||||||||||||||||||||||||||||||
Total assets | $ | 261 | ||||||||||||||||||||||||||||||||||||
(a) | The fair value of nonaccrual loans included in this line item is determined based on internal loss rates. The fair value of nonaccrual loans where the fair value is determined based on the appraised value or sales price is included within Other, below. | |||||||||||||||||||||||||||||||||||||
(b) | LGD percentage represents the amount that PNC expects to lose in the event a borrower defaults on an obligation. | |||||||||||||||||||||||||||||||||||||
(c) | Other included Nonaccrual loans of $13 million, OREO and foreclosed assets of $81 million and Long-lived assets held for sale of $13 million as of March 31, 2015. Comparably, as of December 31, 2014, Other included Nonaccrual loans of $25 million, OREO and foreclosed assets of $168 million and Long-lived assets held for sale of $22 million. The fair value of these assets is determined based on appraised value or sales price, the range of which is not meaningful to disclose. | |||||||||||||||||||||||||||||||||||||
Fair Value Option - Changes in Fair Value | ||||||||||||||||||||||||||||||||||||||
Table 81: Fair Value Option - Changes in Fair Value (a) | ||||||||||||||||||||||||||||||||||||||
Gains (Losses) | ||||||||||||||||||||||||||||||||||||||
Three months ended | ||||||||||||||||||||||||||||||||||||||
31-Mar | 31-Mar | |||||||||||||||||||||||||||||||||||||
In millions | 2015 | 2014 | ||||||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||
Customer resale agreements | $ | -1 | ||||||||||||||||||||||||||||||||||||
Trading loans | $ | 1 | ||||||||||||||||||||||||||||||||||||
Commercial mortgage loans held for sale | 25 | 2 | ||||||||||||||||||||||||||||||||||||
Residential mortgage loans held for sale (b) | 46 | 65 | ||||||||||||||||||||||||||||||||||||
Residential mortgage loans – portfolio (b) | 16 | 28 | ||||||||||||||||||||||||||||||||||||
BlackRock Series C Preferred Stock | 9 | -2 | ||||||||||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||
Other borrowed funds | -4 | |||||||||||||||||||||||||||||||||||||
(a) | The impact on earnings of offsetting hedged items or hedging instruments is not reflected in these amounts. | |||||||||||||||||||||||||||||||||||||
(b) | The prior period was corrected for the allocation between Residential mortgage loans held for sale and Residential mortgage loans - portfolio. This resulted in a decrease of $14 million from gains on Residential mortgage loans held for sale and an increase of $17 million to gains on Residential mortgage loans - portfolio for the three months ended March 31, 2014. | |||||||||||||||||||||||||||||||||||||
Fair Value Option - Fair Value and Principal Balances | Fair values and aggregate unpaid principal balances of items for which we elected the fair value option follow. | |||||||||||||||||||||||||||||||||||||
Table 82: Fair Value Option - Fair Value and Principal Balances | ||||||||||||||||||||||||||||||||||||||
Aggregate Unpaid | ||||||||||||||||||||||||||||||||||||||
In millions | Fair Value | Principal Balance | Difference | |||||||||||||||||||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||
Customer resale agreements | $ | 151 | $ | 144 | $ | 7 | ||||||||||||||||||||||||||||||||
Trading loans | 34 | 34 | ||||||||||||||||||||||||||||||||||||
Residential mortgage loans held for sale | ||||||||||||||||||||||||||||||||||||||
Performing loans | 1,204 | 1,152 | 52 | |||||||||||||||||||||||||||||||||||
Accruing loans 90 days or more past due | 8 | 8 | ||||||||||||||||||||||||||||||||||||
Nonaccrual loans | 20 | 21 | -1 | |||||||||||||||||||||||||||||||||||
Total | 1,232 | 1,181 | 51 | |||||||||||||||||||||||||||||||||||
Commercial mortgage loans held for sale (a) | ||||||||||||||||||||||||||||||||||||||
Performing loans | 956 | 983 | -27 | |||||||||||||||||||||||||||||||||||
Nonaccrual loans | 19 | 63 | -44 | |||||||||||||||||||||||||||||||||||
Total | 975 | 1,046 | -71 | |||||||||||||||||||||||||||||||||||
Residential mortgage loans - portfolio | ||||||||||||||||||||||||||||||||||||||
Performing loans | 254 | 315 | -61 | |||||||||||||||||||||||||||||||||||
Accruing loans 90 days or more past due | 485 | 488 | -3 | |||||||||||||||||||||||||||||||||||
Nonaccrual loans | 262 | 427 | -165 | |||||||||||||||||||||||||||||||||||
Total | 1,001 | 1,230 | -229 | |||||||||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||
Other borrowed funds | $ | 238 | $ | 276 | $ | -38 | ||||||||||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||
Customer resale agreements | $ | 155 | $ | 148 | $ | 7 | ||||||||||||||||||||||||||||||||
Trading loans | 37 | 37 | ||||||||||||||||||||||||||||||||||||
Residential mortgage loans held for sale | ||||||||||||||||||||||||||||||||||||||
Performing loans | 1,236 | 1,176 | 60 | |||||||||||||||||||||||||||||||||||
Accruing loans 90 days or more past due | 9 | 9 | ||||||||||||||||||||||||||||||||||||
Nonaccrual loans | 16 | 17 | -1 | |||||||||||||||||||||||||||||||||||
Total | 1,261 | 1,202 | 59 | |||||||||||||||||||||||||||||||||||
Commercial mortgage loans held for sale (a) | ||||||||||||||||||||||||||||||||||||||
Performing loans | 873 | 908 | -35 | |||||||||||||||||||||||||||||||||||
Nonaccrual loans | 20 | 64 | -44 | |||||||||||||||||||||||||||||||||||
Total | 893 | 972 | -79 | |||||||||||||||||||||||||||||||||||
Residential mortgage loans - portfolio | ||||||||||||||||||||||||||||||||||||||
Performing loans | 194 | 256 | -62 | |||||||||||||||||||||||||||||||||||
Accruing loans 90 days or more past due | 570 | 573 | -3 | |||||||||||||||||||||||||||||||||||
Nonaccrual loans | 270 | 449 | -179 | |||||||||||||||||||||||||||||||||||
Total | 1,034 | 1,278 | -244 | |||||||||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||
Other borrowed funds | $ | 273 | $ | 312 | $ | -39 | ||||||||||||||||||||||||||||||||
(a) | There were no accruing loans 90 days or more past due within this category at March 31, 2015 or December 31, 2014. | |||||||||||||||||||||||||||||||||||||
Additional Fair Value Information Related to Financial Instruments | Table 83: Additional Fair Value Information Related to Other Financial Instruments | |||||||||||||||||||||||||||||||||||||
Carrying | Fair Value | |||||||||||||||||||||||||||||||||||||
In millions | Amount | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||
Cash and due from banks | $ | 4,151 | $ | 4,151 | $ | 4,151 | ||||||||||||||||||||||||||||||||
Short-term assets | 33,897 | 33,897 | $ | 33,897 | ||||||||||||||||||||||||||||||||||
Securities held to maturity | 13,189 | 13,640 | 304 | 13,328 | $ | 8 | ||||||||||||||||||||||||||||||||
Loans held for sale | 216 | 216 | 134 | 82 | ||||||||||||||||||||||||||||||||||
Net loans (excludes leases) | 192,780 | 194,750 | 194,750 | |||||||||||||||||||||||||||||||||||
Other assets | 1,924 | 2,587 | 1,847 | 740 | (a) | |||||||||||||||||||||||||||||||||
Total assets | $ | 246,157 | $ | 249,241 | $ | 4,455 | $ | 49,206 | $ | 195,580 | ||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||
Demand, savings and money market deposits | $ | 215,965 | $ | 215,965 | $ | 215,965 | ||||||||||||||||||||||||||||||||
Time deposits | 20,538 | 20,531 | 20,531 | |||||||||||||||||||||||||||||||||||
Borrowed funds | 55,199 | 55,987 | 54,512 | $ | 1,475 | |||||||||||||||||||||||||||||||||
Unfunded loan commitments and letters of credit | 217 | 217 | 217 | |||||||||||||||||||||||||||||||||||
Total liabilities | $ | 291,919 | $ | 292,700 | $ | 291,008 | $ | 1,692 | ||||||||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||
Cash and due from banks | $ | 4,360 | $ | 4,360 | $ | 4,360 | ||||||||||||||||||||||||||||||||
Short-term assets | 34,380 | 34,380 | $ | 34,380 | ||||||||||||||||||||||||||||||||||
Securities held to maturity | 11,588 | 11,984 | 292 | 11,683 | $ | 9 | ||||||||||||||||||||||||||||||||
Loans held for sale | 108 | 108 | 56 | 52 | ||||||||||||||||||||||||||||||||||
Net loans (excludes leases) | 192,573 | 194,564 | 194,564 | |||||||||||||||||||||||||||||||||||
Other assets | 1,879 | 2,544 | 1,802 | 742 | (a) | |||||||||||||||||||||||||||||||||
Total assets | $ | 244,888 | $ | 247,940 | $ | 4,652 | $ | 47,921 | $ | 195,367 | ||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||
Demand, savings and money market deposits | $ | 210,838 | $ | 210,838 | $ | 210,838 | ||||||||||||||||||||||||||||||||
Time deposits | 21,396 | 21,392 | 21,392 | |||||||||||||||||||||||||||||||||||
Borrowed funds | 55,329 | 56,011 | 54,574 | $ | 1,437 | |||||||||||||||||||||||||||||||||
Unfunded loan commitments and letters of credit | 240 | 240 | 240 | |||||||||||||||||||||||||||||||||||
Total liabilities | $ | 287,803 | $ | 288,481 | $ | 286,804 | $ | 1,677 | ||||||||||||||||||||||||||||||
(a) | Represents estimated fair value of Visa Class B common shares, which was estimated solely based upon the March 31, 2015 and December 31, 2014 closing price for the Visa Class A common shares, respectively, and the Visa Class B common share conversion rate, which reflects adjustments in respect of all litigation funding by Visa as of that date. The transfer restrictions on the Visa Class B common shares could impact the aforementioned estimate, until they can be converted to Class A common shares. See Note 22 Commitments and Guarantees in our Notes to Consolidated Financial Statements under Item 8 of our 2014 Form 10-K for additional information. |
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 3 Months Ended | ||||||||||||||
Mar. 31, 2015 | |||||||||||||||
Goodwill and Other Intangible Assets Disclosure [Abstract] | |||||||||||||||
Goodwill by Business Segment | Note 8 Goodwill and Intangible Assets | ||||||||||||||
Goodwill | |||||||||||||||
Goodwill by business segment consisted of the following: | |||||||||||||||
Table 84: Goodwill by Business Segment (a) | |||||||||||||||
31-Mar | 31-Dec | ||||||||||||||
In millions | 2015 | 2014 | |||||||||||||
Retail Banking | $ | 5,795 | $ | 5,795 | |||||||||||
Corporate & Institutional Banking | 3,244 | 3,244 | |||||||||||||
Asset Management Group | 64 | 64 | |||||||||||||
Total | $ | 9,103 | $ | 9,103 | |||||||||||
(a) | The Residential Mortgage Banking and Non-Strategic Assets Portfolio business segments did not have any goodwill allocated to them as of March 31, 2015 and December 31, 2014. | ||||||||||||||
Mortgage Servicing Rights | Table 85: Mortgage Servicing Rights | ||||||||||||||
Commercial MSRs | Residential MSRs | ||||||||||||||
In millions | 2015 | 2014 | 2015 | 2014 | |||||||||||
1-Jan | $ | 506 | $ | 552 | $ | 845 | $ | 1,087 | |||||||
Additions: | |||||||||||||||
From loans sold with servicing retained | 14 | 7 | 17 | 23 | |||||||||||
Purchases | 11 | 7 | 83 | 17 | |||||||||||
Changes in fair value due to: | |||||||||||||||
Time and payoffs (a) | -21 | -23 | -39 | -29 | |||||||||||
Other (b) | -16 | -14 | -67 | -59 | |||||||||||
31-Mar | $ | 494 | $ | 529 | $ | 839 | $ | 1,039 | |||||||
Unpaid principal balance of loans serviced for others at March 31 | $ | 143,724 | $ | 144,332 | $ | 112,932 | $ | 113,573 | |||||||
(a) | Represents decrease in MSR value due to passage of time, including the impact from both regularly scheduled loan principal payments and loans that were paid down or paid off during the period. | ||||||||||||||
(b) | Represents MSR value changes resulting primarily from market-driven changes in interest rates. | ||||||||||||||
Commercial Mortgage Loan Servicing Assets - Key Valuation Assumptions | Table 86: Commercial Mortgage Loan Servicing Rights - Key Valuation Assumptions | ||||||||||||||
31-Mar | 31-Dec | ||||||||||||||
Dollars in millions | 2015 | 2014 | |||||||||||||
Fair value | $ | 494 | $ | 506 | |||||||||||
Weighted-average life (years) | 4.8 | 4.7 | |||||||||||||
Weighted-average constant prepayment rate | 7.51 | % | 8.03 | % | |||||||||||
Decline in fair value from 10% adverse change | $ | 10 | $ | 10 | |||||||||||
Decline in fair value from 20% adverse change | $ | 19 | $ | 19 | |||||||||||
Effective discount rate | 6.45 | % | 6.59 | % | |||||||||||
Decline in fair value from 10% adverse change | $ | 13 | $ | 13 | |||||||||||
Decline in fair value from 20% adverse change | $ | 26 | $ | 26 | |||||||||||
Residential Mortgage Loan Servicing Assets - Key Valuation Assumptions | Table 87: Residential Mortgage Loan Servicing Rights - Key Valuation Assumptions | ||||||||||||||
31-Mar | 31-Dec | ||||||||||||||
Dollars in millions | 2015 | 2014 | |||||||||||||
Fair value | $ | 839 | $ | 845 | |||||||||||
Weighted-average life (years) | 5.7 | 6.1 | |||||||||||||
Weighted-average constant prepayment rate | 12.41 | % | 11.16 | % | |||||||||||
Decline in fair value from 10% adverse change | $ | 40 | $ | 36 | |||||||||||
Decline in fair value from 20% adverse change | $ | 77 | $ | 69 | |||||||||||
Weighted-average option adjusted spread | 9.85 | % | 10.36 | % | |||||||||||
Decline in fair value from 10% adverse change | $ | 29 | $ | 31 | |||||||||||
Decline in fair value from 20% adverse change | $ | 57 | $ | 61 | |||||||||||
Fees from Mortgage Loan Servicing | Table 88: Fees from Mortgage and Other Loan Servicing | ||||||||||||||
In millions | 2015 | 2014 | |||||||||||||
Three months ended March 31 | $ | 121 | $ | 129 | |||||||||||
Other Intangible Assets | Table 89: Other Intangible Assets | ||||||||||||||
31-Mar | 31-Dec | ||||||||||||||
In millions | 2015 | 2014 | |||||||||||||
Gross carrying amount | $ | 1,499 | $ | 1,502 | |||||||||||
Accumulated amortization | -1,036 | -1,009 | |||||||||||||
Net carrying amount | $ | 463 | $ | 493 | |||||||||||
Amortization Expense on Existing Intangible Assets | Table 90: Amortization Expense on Existing Other Intangible Assets | ||||||||||||||
In millions | |||||||||||||||
Three months ended March 31, 2015 | $ | 30 | |||||||||||||
Three months ended March 31, 2014 | 33 | ||||||||||||||
Remainder of 2015 | 84 | ||||||||||||||
2016 | 97 | ||||||||||||||
2017 | 83 | ||||||||||||||
2018 | 72 | ||||||||||||||
2019 | 61 | ||||||||||||||
2020 | 37 | ||||||||||||||
Certain_Employee_Benefit_and_S1
Certain Employee Benefit and Stock Based Compensation Plans (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Share-based Compensation [Abstract] | |||||||||||||||||||||
Net Periodic Pension and Postretirement Benefits Costs | Table 91: Net Periodic Pension and Postretirement Benefits Costs | ||||||||||||||||||||
Qualified Pension Plan | Nonqualified Retirement Plans | Postretirement Benefits | |||||||||||||||||||
Three months ended March 31 | |||||||||||||||||||||
In millions | 2015 | 2014 | 2015 | 2014 | 2015 | 2014 | |||||||||||||||
Net periodic cost consists of: | |||||||||||||||||||||
Service cost | $ | 27 | $ | 25 | $ | 1 | $ | 1 | $ | 1 | |||||||||||
Interest cost | 44 | 47 | $ | 3 | 3 | 4 | 4 | ||||||||||||||
Expected return on plan assets | -74 | -72 | |||||||||||||||||||
Amortization of prior service credit | -2 | -2 | |||||||||||||||||||
Amortization of actuarial losses | 7 | 2 | 1 | ||||||||||||||||||
Net periodic cost/(benefit) | $ | 2 | $ | -2 | $ | 5 | $ | 5 | $ | 5 | $ | 5 | |||||||||
Stock Option Rollforward | The following table represents the stock option activity for the first three months of 2015. | ||||||||||||||||||||
Table 92: Stock Option Rollforward | |||||||||||||||||||||
PNC Options | |||||||||||||||||||||
Converted From | |||||||||||||||||||||
National City | |||||||||||||||||||||
PNC | Options | Total | |||||||||||||||||||
Weighted-Average | Weighted-Average | Weighted-Average | |||||||||||||||||||
In thousands, except weighted-average data | Shares | Exercise Price | Shares | Exercise Price | Shares | Exercise Price | |||||||||||||||
Outstanding at December 31, 2014 | 6,701 | $ | 56.41 | 343 | $ | 585.23 | 7,044 | $ | 82.17 | ||||||||||||
Granted (a) | |||||||||||||||||||||
Exercised | -793 | 59.76 | -793 | 59.76 | |||||||||||||||||
Cancelled | -9 | 33.38 | -4 | 545.29 | -13 | 189.22 | |||||||||||||||
Outstanding at March 31, 2015 | 5,899 | $ | 55.99 | 339 | $ | 585.72 | 6,238 | $ | 84.78 | ||||||||||||
Exercisable at March 31, 2015 | 5,851 | $ | 55.93 | 339 | $ | 585.72 | 6,190 | $ | 84.95 | ||||||||||||
(a) PNC did not grant any stock options in the first three months of 2015. | |||||||||||||||||||||
Nonvested Incentive/Performance Unit Share Awards and Restricted Stock/Share Unit Awards - Rollforward | Table 93: Nonvested Incentive/Performance Unit Share Awards and Restricted Stock/Share Unit Awards - Rollforward | ||||||||||||||||||||
Nonvested | |||||||||||||||||||||
Nonvested | Weighted- | Restricted | Weighted- | ||||||||||||||||||
Incentive/ | Average | Stock/ | Average | ||||||||||||||||||
Performance | Grant Date | Share | Grant Date | ||||||||||||||||||
Shares in thousands | Unit Shares | Fair Value | Units | Fair Value | |||||||||||||||||
31-Dec-14 | 1,837 | $ | 69.84 | 3,652 | $ | 69.03 | |||||||||||||||
Granted | 649 | 90.35 | 999 | 92.19 | |||||||||||||||||
Vested/Released | -682 | 66.17 | -1,035 | 60.63 | |||||||||||||||||
Forfeited | -21 | 68.51 | -30 | 74.64 | |||||||||||||||||
31-Mar-15 | 1,783 | $ | 78.72 | 3,586 | $ | 77.86 | |||||||||||||||
Nonvested Cash-Payable Incentive/Performance Units and Restricted Share Units - Rollforward | Table 94: Nonvested Cash-Payable Incentive/Performance Units and Restricted Share Units – Rollforward | ||||||||||||||||||||
Cash-Payable | |||||||||||||||||||||
Incentive/ | Cash-Payable | ||||||||||||||||||||
Performance | Restricted | ||||||||||||||||||||
In thousands | Units | Share Units | Total | ||||||||||||||||||
Outstanding at December 31, 2014 | 177 | 658 | 835 | ||||||||||||||||||
Granted | 81 | 347 | 428 | ||||||||||||||||||
Vested and Released | -98 | -349 | -447 | ||||||||||||||||||
Forfeited | -43 | -4 | -47 | ||||||||||||||||||
Outstanding at March 31, 2015 | 117 | 652 | 769 | ||||||||||||||||||
Financial_Derivatives_Tables
Financial Derivatives (Tables) | 3 Months Ended | |||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||
Total Gross Derivatives | Table 95: Total Gross Derivatives | |||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||
Notional/ | Asset | Liability | Notional/ | Asset | Liability | |||||||||||||||||
Contract | Fair | Fair | Contract | Fair | Fair | |||||||||||||||||
In millions | Amount | Value (a) | Value (b) | Amount | Value (a) | Value (b) | ||||||||||||||||
Derivatives designated as hedging instruments under GAAP | $ | 49,475 | $ | 1,531 | $ | 198 | $ | 49,061 | $ | 1,261 | $ | 186 | ||||||||||
Derivatives not designated as hedging instruments under GAAP | 307,201 | 4,722 | 4,546 | 291,256 | 3,973 | 3,841 | ||||||||||||||||
Total gross derivatives | $ | 356,676 | $ | 6,253 | $ | 4,744 | $ | 340,317 | $ | 5,234 | $ | 4,027 | ||||||||||
(a) | Included in Other assets on our Consolidated Balance Sheet. | |||||||||||||||||||||
(b) | Included in Other liabilities on our Consolidated Balance Sheet. | |||||||||||||||||||||
Derivatives Designated as Hedging Instruments under GAAP | Table 96: Derivatives Designated As Hedging Instruments under GAAP | |||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||
Notional/ | Asset | Liability | Notional/ | Asset | Liability | |||||||||||||||||
Contract | Fair | Fair | Contract | Fair | Fair | |||||||||||||||||
In millions | Amount | Value (a) | Value (b) | Amount | Value (a) | Value (b) | ||||||||||||||||
Interest rate contracts: | ||||||||||||||||||||||
Fair value hedges: | ||||||||||||||||||||||
Receive-fixed swaps | $ | 21,338 | $ | 921 | $ | 20,930 | $ | 827 | $ | 38 | ||||||||||||
Pay-fixed swaps (c) | 4,300 | 1 | $ | 198 | 4,233 | 3 | 138 | |||||||||||||||
Subtotal | $ | 25,638 | $ | 922 | $ | 198 | $ | 25,163 | $ | 830 | $ | 176 | ||||||||||
Cash flow hedges: | ||||||||||||||||||||||
Receive-fixed swaps | $ | 20,954 | $ | 538 | $ | 19,991 | $ | 400 | $ | 10 | ||||||||||||
Forward purchase commitments | 1,800 | 11 | 2,778 | 25 | ||||||||||||||||||
Subtotal | $ | 22,754 | $ | 549 | $ | 22,769 | $ | 425 | $ | 10 | ||||||||||||
Foreign exchange contracts: | ||||||||||||||||||||||
Net investment hedges | 1,083 | 60 | 1,129 | 6 | ||||||||||||||||||
Total derivatives designated as hedging instruments | $ | 49,475 | $ | 1,531 | $ | 198 | $ | 49,061 | $ | 1,261 | $ | 186 | ||||||||||
(a) | Included in Other assets on our Consolidated Balance Sheet. | |||||||||||||||||||||
(b) | Included in Other liabilities on our Consolidated Balance Sheet. | |||||||||||||||||||||
(c) | Includes zero-coupon swaps. | |||||||||||||||||||||
Gains (Losses) on Derivatives and Related Hedged Items - Fair Value Hedges | Table 97: Gains (Losses) on Derivatives and Related Hedged Items - Fair Value Hedges | |||||||||||||||||||||
Three months ended | ||||||||||||||||||||||
31-Mar-15 | 31-Mar-14 | |||||||||||||||||||||
Gain (Loss) | Gain (Loss) | |||||||||||||||||||||
Gain | on Related | Gain | on Related | |||||||||||||||||||
(Loss) on | Hedged | (Loss) on | Hedged | |||||||||||||||||||
Derivatives | Items | Derivatives | Items | |||||||||||||||||||
Recognized | Recognized | Recognized | Recognized | |||||||||||||||||||
In millions | Hedged Items | Location | in Income | in Income | in Income | in Income | ||||||||||||||||
Interest rate contracts | U.S. Treasury and Government | Investment securities | ||||||||||||||||||||
Agencies Securities | (interest income) | $ | -51 | $ | 53 | $ | -30 | $ | 31 | |||||||||||||
Interest rate contracts | Other Debt Securities | Investment securities | ||||||||||||||||||||
(interest income) | -1 | 1 | 1 | |||||||||||||||||||
Interest rate contracts | Subordinated debt | Borrowed funds | ||||||||||||||||||||
(interest expense) | 54 | -63 | 23 | -29 | ||||||||||||||||||
Interest rate contracts | Bank notes and | Borrowed funds | ||||||||||||||||||||
senior debt | (interest expense) | 103 | -109 | 9 | -10 | |||||||||||||||||
Total (a) | $ | 105 | $ | -118 | $ | 3 | $ | -8 | ||||||||||||||
(a) | The ineffective portion of the change in value of our fair value hedge derivatives resulted in net losses of $13 million for the first three months of 2015 compared with net losses of $5 million for the first three months of 2014. | |||||||||||||||||||||
Gains (Losses) on Derivatives and Related Cash Flows - Cash Flow Hedges | Table 98: Gains (Losses) on Derivatives and Related Cash Flows - Cash Flow Hedges (a) (b) | |||||||||||||||||||||
Three months ended | ||||||||||||||||||||||
31-Mar | ||||||||||||||||||||||
In millions | 2015 | 2014 | ||||||||||||||||||||
Gains (losses) on derivatives recognized in OCI - (effective portion) | $ | 298 | $ | 72 | ||||||||||||||||||
Less: Gains (losses) reclassified from accumulated OCI into income - (effective portion) | ||||||||||||||||||||||
Interest income | 68 | 72 | ||||||||||||||||||||
Noninterest income | -9 | 5 | ||||||||||||||||||||
Total gains (losses) reclassified from accumulated OCI into income - (effective portion) | 59 | 77 | ||||||||||||||||||||
Net unrealized gains (losses) on cash flow hedge derivatives | $ | 239 | $ | -5 | ||||||||||||||||||
(a) | All cash flow hedge derivatives are interest rate contracts as of March 31, 2015 and March 31, 2014. | |||||||||||||||||||||
(b) | The amount of cash flow hedge ineffectiveness recognized in income was not material for the periods presented. | |||||||||||||||||||||
Gains (Losses) on Derivatives - Net Investment Hedges | Table 99: Gains (Losses) on Derivatives - Net Investment Hedges | |||||||||||||||||||||
Three months ended | ||||||||||||||||||||||
31-Mar | ||||||||||||||||||||||
In millions | 2015 | 2014 | ||||||||||||||||||||
Gains (losses) on derivatives recognized in OCI (effective portion) | ||||||||||||||||||||||
Foreign exchange contracts | $ | 54 | $ | -7 | ||||||||||||||||||
Derivatives Not Designated as Hedging Instruments under GAAP | Table 100: Derivatives Not Designated As Hedging Instruments under GAAP | |||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||
Notional/ | Asset | Liability | Notional/ | Asset | Liability | |||||||||||||||||
Contract | Fair | Fair | Contract | Fair | Fair | |||||||||||||||||
In millions | Amount | Value (a) | Value (b) | Amount | Value (a) | Value (b) | ||||||||||||||||
Derivatives used for residential mortgage banking activities: | ||||||||||||||||||||||
Residential mortgage servicing | ||||||||||||||||||||||
Interest rate contracts: | ||||||||||||||||||||||
Swaps | $ | 32,765 | $ | 935 | $ | 548 | $ | 32,459 | $ | 777 | $ | 394 | ||||||||||
Swaptions | 2,698 | 41 | 31 | 1,498 | 29 | 22 | ||||||||||||||||
Futures (c) | 21,164 | 22,084 | ||||||||||||||||||||
Futures options | 22,000 | 6 | 3 | 12,225 | 4 | |||||||||||||||||
Mortgage-backed securities commitments | 1,510 | 4 | 1 | 710 | 4 | |||||||||||||||||
Subtotal | $ | 80,137 | $ | 986 | $ | 583 | $ | 68,976 | $ | 814 | $ | 416 | ||||||||||
Loan sales | ||||||||||||||||||||||
Interest rate contracts: | ||||||||||||||||||||||
Futures (c) | $ | 28 | $ | 58 | ||||||||||||||||||
Bond options | 400 | $ | 2 | 300 | ||||||||||||||||||
Mortgage-backed securities commitments | 6,240 | 10 | $ | 15 | 4,916 | $ | 10 | $ | 21 | |||||||||||||
Residential mortgage loan commitments | 2,405 | 31 | 1,852 | 22 | ||||||||||||||||||
Subtotal | $ | 9,073 | $ | 43 | $ | 15 | $ | 7,126 | $ | 32 | $ | 21 | ||||||||||
Subtotal | $ | 89,210 | $ | 1,029 | $ | 598 | $ | 76,102 | $ | 846 | $ | 437 | ||||||||||
Derivatives used for commercial mortgage banking activities: | ||||||||||||||||||||||
Interest rate contracts: | ||||||||||||||||||||||
Swaps | $ | 3,818 | $ | 96 | $ | 65 | $ | 3,801 | $ | 67 | $ | 48 | ||||||||||
Swaptions | 439 | 1 | 1 | 439 | 2 | 1 | ||||||||||||||||
Futures (c) | 18,904 | 19,913 | ||||||||||||||||||||
Commercial mortgage loan commitments | 2,119 | 18 | 14 | 2,042 | 16 | 10 | ||||||||||||||||
Subtotal | $ | 25,280 | $ | 115 | $ | 80 | $ | 26,195 | $ | 85 | $ | 59 | ||||||||||
Credit contracts: | ||||||||||||||||||||||
Credit default swaps | $ | 95 | $ | 95 | ||||||||||||||||||
Subtotal | $ | 25,375 | $ | 115 | $ | 80 | $ | 26,290 | $ | 85 | $ | 59 | ||||||||||
Derivatives used for customer-related activities: | ||||||||||||||||||||||
Interest rate contracts: | ||||||||||||||||||||||
Swaps | $ | 149,714 | $ | 2,972 | $ | 2,931 | $ | 146,008 | $ | 2,632 | $ | 2,559 | ||||||||||
Caps/floors - Sold | 5,255 | 14 | 4,846 | 16 | ||||||||||||||||||
Caps/floors - Purchased | 6,765 | 32 | 6,339 | 34 | ||||||||||||||||||
Swaptions | 4,355 | 92 | 13 | 3,361 | 62 | 12 | ||||||||||||||||
Futures (c) | 2,655 | 3,112 | ||||||||||||||||||||
Mortgage-backed securities commitments | 2,934 | 7 | 8 | 2,137 | 3 | 3 | ||||||||||||||||
Subtotal | $ | 171,678 | $ | 3,103 | $ | 2,966 | $ | 165,803 | $ | 2,731 | $ | 2,590 | ||||||||||
Foreign exchange contracts | $ | 11,112 | $ | 378 | $ | 387 | $ | 12,547 | $ | 223 | $ | 240 | ||||||||||
Credit contracts: | ||||||||||||||||||||||
Risk participation agreements | 5,048 | 3 | 5 | 5,124 | 2 | 4 | ||||||||||||||||
Subtotal | $ | 187,838 | $ | 3,484 | $ | 3,358 | $ | 183,474 | $ | 2,956 | $ | 2,834 | ||||||||||
Derivatives used for other risk management activities: | ||||||||||||||||||||||
Interest rate contracts | $ | 95 | $ | 833 | $ | 1 | ||||||||||||||||
Foreign exchange contracts | 2,793 | $ | 94 | $ | 2 | 2,661 | 85 | $ | 1 | |||||||||||||
Credit contracts: | ||||||||||||||||||||||
Credit default swaps | 15 | 15 | ||||||||||||||||||||
Other contracts (d) | 1,875 | 508 | 1,881 | 510 | ||||||||||||||||||
Subtotal | $ | 4,778 | $ | 94 | $ | 510 | $ | 5,390 | 86 | $ | 511 | |||||||||||
Total derivatives not designated as hedging instruments | $ | 307,201 | $ | 4,722 | $ | 4,546 | $ | 291,256 | $ | 3,973 | $ | 3,841 | ||||||||||
(a) | Included in Other assets on our Consolidated Balance Sheet. | |||||||||||||||||||||
(b) | Included in Other liabilities on our Consolidated Balance Sheet. | |||||||||||||||||||||
(c) | Futures contracts settle in cash daily and, therefore, no derivative asset or derivative liability is recognized on our Consolidated Balance Sheet. | |||||||||||||||||||||
(d) | Includes PNC's obligation to fund a portion of certain BlackRock LTIP programs and the swaps entered into in connection with sales of a portion of Visa Class B common shares. | |||||||||||||||||||||
Gains (Losses) on Derivatives Not Designated as Hedging Instruments under GAAP | Table 101: Gains (Losses) on Derivatives Not Designated As Hedging Instruments under GAAP | |||||||||||||||||||||
Three months ended | ||||||||||||||||||||||
31-Mar | ||||||||||||||||||||||
In millions | 2015 | 2014 | ||||||||||||||||||||
Derivatives used for residential mortgage banking activities: | ||||||||||||||||||||||
Residential mortgage servicing | ||||||||||||||||||||||
Interest rate contracts | $ | 98 | $ | 53 | ||||||||||||||||||
Loan sales | ||||||||||||||||||||||
Interest rate contracts | 21 | 1 | ||||||||||||||||||||
Gains (losses) included in residential mortgage banking activities (a) | $ | 119 | $ | 54 | ||||||||||||||||||
Derivatives used for commercial mortgage banking activities: | ||||||||||||||||||||||
Interest rate contracts (b) (c) | $ | 30 | $ | 20 | ||||||||||||||||||
Credit contracts (c) | -1 | |||||||||||||||||||||
Gains (losses) from commercial mortgage banking activities | $ | 29 | $ | 20 | ||||||||||||||||||
Derivatives used for customer-related activities: | ||||||||||||||||||||||
Interest rate contracts | $ | 4 | $ | -1 | ||||||||||||||||||
Foreign exchange contracts | 1 | 24 | ||||||||||||||||||||
Credit contracts | 1 | |||||||||||||||||||||
Gains (losses) from customer-related activities (c) | $ | 5 | $ | 24 | ||||||||||||||||||
Derivatives used for other risk management activities: | ||||||||||||||||||||||
Interest rate contracts | $ | -4 | ||||||||||||||||||||
Foreign exchange contracts | $ | 183 | ||||||||||||||||||||
Other contracts (d) | -7 | -8 | ||||||||||||||||||||
Gains (losses) from other risk management activities (c) | $ | 176 | $ | -12 | ||||||||||||||||||
Total gains (losses) from derivatives not designated as hedging instruments | $ | 329 | $ | 86 | ||||||||||||||||||
(a) | Included in Residential mortgage noninterest income. | |||||||||||||||||||||
(b) | Included in Corporate services noninterest income. | |||||||||||||||||||||
(c) | Included in Other noninterest income. | |||||||||||||||||||||
(d) | Includes BlackRock LTIP funding obligation and the swaps entered into in connection with sales of a portion of Visa Class B common shares. | |||||||||||||||||||||
Credit Default Swaps | Table 102: Credit Default Swaps (a) | |||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||
Weighted- | Weighted- | |||||||||||||||||||||
Average | Average | |||||||||||||||||||||
Remaining | Remaining | |||||||||||||||||||||
Notional | Maturity | Notional | Maturity | |||||||||||||||||||
Dollars in millions | Amount | In Years | Amount | In Years | ||||||||||||||||||
Credit Default Swaps – Purchased (b) | ||||||||||||||||||||||
Single name | $ | 50 | 5.5 | $ | 50 | 5.7 | ||||||||||||||||
Index traded | 60 | 34 | 60 | 34.2 | ||||||||||||||||||
Total | $ | 110 | 21 | $ | 110 | 21.3 | ||||||||||||||||
(a) | There were no credit default swaps sold as of March 31, 2015 and December 31, 2014. | |||||||||||||||||||||
(b) | The fair value of credit default swaps purchased was less than $1 million as of March 31, 2015 and December 31, 2014. | |||||||||||||||||||||
Credit Ratings of Credit Default Swaps | Table 103: Credit Ratings of Credit Default Swaps (a) | |||||||||||||||||||||
In millions | 31-Mar-15 | 31-Dec-14 | ||||||||||||||||||||
Credit Default Swaps – Purchased | ||||||||||||||||||||||
Investment grade (b) | $ | 95 | $ | 95 | ||||||||||||||||||
Subinvestment grade (c) | 15 | 15 | ||||||||||||||||||||
Total | $ | 110 | $ | 110 | ||||||||||||||||||
(a) | There were no credit default swaps sold as of March 31, 2015 and December 31, 2014. | |||||||||||||||||||||
(b) | Investment grade with a rating of BBB-/Baa3 or above based on published rating agency information. | |||||||||||||||||||||
(c) | Subinvestment grade represents a rating below BBB-/Baa3 based on published rating agency information. | |||||||||||||||||||||
Referenced/Underlying Assets of Credit Default Swaps | Table 104: Referenced/Underlying Assets of Credit Default Swaps | |||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||
Corporate debt | 45% | 45% | ||||||||||||||||||||
Commercial mortgage-backed securities | 55% | 55% | ||||||||||||||||||||
Risk Participation Agreements Sold | Table 105: Risk Participation Agreements Sold | |||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||
Weighted- | Weighted- | |||||||||||||||||||||
Average | Average | |||||||||||||||||||||
Remaining | Remaining | |||||||||||||||||||||
Notional | Fair | Maturity | Notional | Fair | Maturity | |||||||||||||||||
Dollars in millions | Amount | Value | In Years | Amount | Value | In Years | ||||||||||||||||
Risk Participation Agreements Sold | $ | 2,626 | $ | -5 | 5.2 | $ | 2,796 | $ | -4 | 5.4 | ||||||||||||
Derivative Assets And Liabilities Offsetting | Table 106: Derivative Assets and Liabilities Offsetting | |||||||||||||||||||||
Amounts | Securities | |||||||||||||||||||||
Gross | Offset on the | Net | Collateral | |||||||||||||||||||
Fair Value | Consolidated Balance Sheet | Fair Value | Held Under | |||||||||||||||||||
31-Mar-15 | Derivative | Fair Value | Cash | Derivative | Master Netting | Net | ||||||||||||||||
In millions | Assets | Offset Amount | Collateral | Assets | Agreements | Amounts | ||||||||||||||||
Derivative assets | ||||||||||||||||||||||
Interest rate contracts | $ | 5,718 | $ | 2,022 | $ | 493 | $ | 3,203 | $ | 215 | $ | 2,988 | ||||||||||
Foreign exchange contracts | 532 | 289 | 88 | 155 | 8 | 147 | ||||||||||||||||
Credit contracts | 3 | 1 | 1 | 1 | 1 | |||||||||||||||||
Total derivative assets (a) (b) | $ | 6,253 | $ | 2,312 | $ | 582 | $ | 3,359 | (c) | $ | 223 | $ | 3,136 | |||||||||
Amounts | Securities | |||||||||||||||||||||
Gross | Offset on the | Net | Collateral | |||||||||||||||||||
Fair Value | Consolidated Balance Sheet | Fair Value | Pledged Under | |||||||||||||||||||
31-Mar-15 | Derivative | Fair Value | Cash | Derivative | Master Netting | Net | ||||||||||||||||
In millions | Liabilities | Offset Amount | Collateral | Liabilities | Agreements | Amounts | ||||||||||||||||
Derivative liabilities | ||||||||||||||||||||||
Interest rate contracts | $ | 3,842 | $ | 2,200 | $ | 540 | $ | 1,102 | $ | 1,102 | ||||||||||||
Foreign exchange contracts | 389 | 108 | 21 | 260 | 260 | |||||||||||||||||
Credit contracts | 5 | 4 | 1 | |||||||||||||||||||
Other contracts | 508 | 508 | 508 | |||||||||||||||||||
Total derivative liabilities (a) (b) | $ | 4,744 | $ | 2,312 | $ | 562 | $ | 1,870 | (d) | $ | 1,870 | |||||||||||
Amounts | Securities | |||||||||||||||||||||
Gross | Offset on the | Net | Collateral | |||||||||||||||||||
Fair Value | Consolidated Balance Sheet | Fair Value | Held Under | |||||||||||||||||||
31-Dec-14 | Derivative | Fair Value | Cash | Derivative | Master Netting | Net | ||||||||||||||||
In millions | Assets | Offset Amount | Collateral | Assets | Agreements | Amounts | ||||||||||||||||
Derivative assets | ||||||||||||||||||||||
Interest rate contracts | $ | 4,918 | $ | 1,981 | $ | 458 | $ | 2,479 | $ | 143 | $ | 2,336 | ||||||||||
Foreign exchange contracts | 314 | 159 | 47 | 108 | 1 | 107 | ||||||||||||||||
Credit contracts | 2 | 1 | 1 | |||||||||||||||||||
Total derivative assets (a) (b) | $ | 5,234 | $ | 2,141 | $ | 506 | $ | 2,587 | (c) | $ | 144 | $ | 2,443 | |||||||||
Amounts | Securities | |||||||||||||||||||||
Gross | Offset on the | Net | Collateral | |||||||||||||||||||
Fair Value | Consolidated Balance Sheet | Fair Value | Pledged Under | |||||||||||||||||||
31-Dec-14 | Derivative | Fair Value | Cash | Derivative | Master Netting | Net | ||||||||||||||||
In millions | Liabilities | Offset Amount | Collateral | Liabilities | Agreements | Amounts | ||||||||||||||||
Derivative liabilities | ||||||||||||||||||||||
Interest rate contracts | $ | 3,272 | $ | 2,057 | $ | 483 | $ | 732 | $ | 732 | ||||||||||||
Foreign exchange contracts | 241 | 80 | 20 | 141 | 141 | |||||||||||||||||
Credit contracts | 4 | 4 | ||||||||||||||||||||
Other contracts | 510 | 510 | 510 | |||||||||||||||||||
Total derivative liabilities (a) (b) | $ | 4,027 | $ | 2,141 | $ | 503 | $ | 1,383 | (d) | $ | 1,383 | |||||||||||
(a) | There were no derivative assets or derivative liabilities equity contracts as of March 31, 2015 and December 31, 2014. | |||||||||||||||||||||
(b) | Included derivative assets and derivative liabilities as of March 31, 2015 totaling $1.2 billion and $1.0 billion, respectively, related to interest rate contracts executed bilaterally with counterparties in the U.S. over-the-counter market and novated to and cleared through a central clearing house. The comparable amounts as of December 31, 2014 totaled $807 million and $657 million, respectively. Derivative assets and liabilities as of March 31, 2015 and December 31, 2014 related to exchange-traded interest rate contracts were not material. As of March 31, 2015 and December 31, 2014, these contracts were not subject to offsetting. The remaining gross and net derivative assets and liabilities relate to contracts executed bilaterally with counterparties that are not settled through an organized exchange or central clearing house. | |||||||||||||||||||||
(c) | Represents the net amount of derivative assets included in Other assets on our Consolidated Balance Sheet. | |||||||||||||||||||||
(d) | Represents the net amount of derivative liabilities included in Other liabilities on our Consolidated Balance Sheet. |
Earnings_per_Share_Tables
Earnings per Share (Tables) | 3 Months Ended | |||||||||
Mar. 31, 2015 | ||||||||||
Earnings per Share | ||||||||||
Basic and Diluted Earnings per Common Share | Note 12 Earnings Per Share | |||||||||
Table 107: Basic and Diluted Earnings per Common Share | ||||||||||
Three months ended March 31 | ||||||||||
In millions, except per share data | 2015 | 2014 | ||||||||
Basic | ||||||||||
Net income | $ | 1,004 | $ | 1,060 | ||||||
Less: | ||||||||||
Net income (loss) attributable to noncontrolling interests | 1 | -2 | ||||||||
Preferred stock dividends and discount accretion and redemptions | 70 | 70 | ||||||||
Net income attributable to common shares | 933 | 992 | ||||||||
Less: | ||||||||||
Dividends and undistributed earnings allocated to nonvested restricted shares | 2 | 3 | ||||||||
Net income attributable to basic common shares | $ | 931 | $ | 989 | ||||||
Basic weighted-average common shares outstanding | 521 | 532 | ||||||||
Basic earnings per common share (a) | $ | 1.79 | $ | 1.86 | ||||||
Diluted | ||||||||||
Net income attributable to basic common shares | $ | 931 | $ | 989 | ||||||
Less: Impact of BlackRock earnings per share dilution | 5 | 6 | ||||||||
Net income attributable to diluted common shares | $ | 926 | $ | 983 | ||||||
Basic weighted-average common shares outstanding | 521 | 532 | ||||||||
Dilutive potential common shares (b) (c) | 8 | 7 | ||||||||
Diluted weighted-average common shares outstanding | 529 | 539 | ||||||||
Diluted earnings per common share (a) | $ | 1.75 | $ | 1.82 | ||||||
(a) | Basic and diluted earnings per share under the two-class method are determined on net income reported on the income statement less earnings allocated to nonvested restricted shares (participating securities). | |||||||||
(b) | Excludes number of stock options considered to be anti-dilutive of 1 million for the three months ended March 31, 2014. No stock options were considered to be anti-dilutive for the three months ended March 31, 2015. | |||||||||
(c) | No warrants were considered to be anti-dilutive for the three months ended March 31, 2015 and March 31, 2014. |
Total_Equity_and_Other_Compreh1
Total Equity and Other Comprehensive Income (Tables) | 3 Months Ended | |||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||
Other Comprehensive Income [Abstract] | ||||||||||||||||||||||||||
Rollforward of Total Equity | Table 108: Rollforward of Total Equity | |||||||||||||||||||||||||
Shareholders' Equity | ||||||||||||||||||||||||||
Capital | Accumulated | |||||||||||||||||||||||||
Shares | Capital | Surplus - | Other | |||||||||||||||||||||||
Outstanding | Surplus - | Common | Comprehensive | Non- | ||||||||||||||||||||||
Common | Common | Preferred | Stock | Retained | Income | Treasury | controlling | Total | ||||||||||||||||||
In millions | Stock | Stock | Stock | and Other | Earnings | (Loss) | Stock | Interests | Equity | |||||||||||||||||
Balance at December 31, 2013 | 533 | $ | 2,698 | $ | 3,941 | $ | 12,416 | $ | 23,251 | $ | 436 | $ | -408 | $ | 1,703 | $ | 44,037 | |||||||||
Cumulative effect of adopting ASC 860-50 (a) | 2 | 2 | ||||||||||||||||||||||||
Balance at January 1, 2014 | 533 | $ | 2,698 | $ | 3,941 | $ | 12,416 | $ | 23,253 | $ | 436 | $ | -408 | $ | 1,703 | $ | 44,039 | |||||||||
Net income | 1,062 | -2 | 1,060 | |||||||||||||||||||||||
Other comprehensive income (loss), net of tax | 220 | 220 | ||||||||||||||||||||||||
Cash dividends declared | ||||||||||||||||||||||||||
Common ($.44 per share) | -235 | -235 | ||||||||||||||||||||||||
Preferred | -68 | -68 | ||||||||||||||||||||||||
Preferred stock discount accretion | 2 | -2 | ||||||||||||||||||||||||
Common stock activity (b) | 2 | 28 | 30 | |||||||||||||||||||||||
Treasury stock activity | 1 | 7 | 26 | 33 | ||||||||||||||||||||||
Other | -57 | -104 | -161 | |||||||||||||||||||||||
Balance at March 31, 2014 (c) | 534 | $ | 2,700 | $ | 3,943 | $ | 12,394 | $ | 24,010 | $ | 656 | $ | -382 | $ | 1,597 | $ | 44,918 | |||||||||
Balance at January 1, 2015 | 523 | $ | 2,705 | $ | 3,946 | $ | 12,627 | $ | 26,200 | $ | 503 | $ | -1,430 | $ | 1,523 | $ | 46,074 | |||||||||
Net income | 1,003 | 1 | 1,004 | |||||||||||||||||||||||
Other comprehensive income (loss), net of tax | 200 | 200 | ||||||||||||||||||||||||
Cash dividends declared | ||||||||||||||||||||||||||
Common ($.48 per share) | -251 | -251 | ||||||||||||||||||||||||
Preferred | -68 | -68 | ||||||||||||||||||||||||
Preferred stock discount accretion | 2 | -2 | ||||||||||||||||||||||||
Common stock activity (b) | 1 | 8 | 9 | |||||||||||||||||||||||
Treasury stock activity | -3 | -18 | -345 | -363 | ||||||||||||||||||||||
Other | -56 | -111 | -167 | |||||||||||||||||||||||
Balance at March 31, 2015 (c) | 520 | $ | 2,706 | $ | 3,948 | $ | 12,561 | $ | 26,882 | $ | 703 | $ | -1,775 | $ | 1,413 | $ | 46,438 | |||||||||
(a) | Amount represents the cumulative impact of our January 1, 2014 irrevocable election to prospectively measure all classes of commercial MSRs at fair value. See Note 1 Accounting Policies and Note 8 Goodwill and Other Intangible Assets for more information on this election in our Notes To Consolidated Financial Statements under Item 8 of our 2014 Form 10-K. | |||||||||||||||||||||||||
(b) | Common stock activity totaled less than .5 million shares issued. | |||||||||||||||||||||||||
(c) | The par value of our preferred stock outstanding was less than $.5 million at each date and, therefore, is excluded from this presentation. | |||||||||||||||||||||||||
Other Comprehensive Income | Table 109: Other Comprehensive Income | |||||||||||||||||||||||||
Details of other comprehensive income (loss) are as follows: | ||||||||||||||||||||||||||
In millions | Pretax | Tax | After-tax | |||||||||||||||||||||||
Net unrealized gains (losses) on non-OTTI securities | ||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | 647 | $ | -238 | $ | 409 | ||||||||||||||||||||
First Quarter 2014 activity | ||||||||||||||||||||||||||
Increase in net unrealized gains (losses) on non-OTTI securities | 201 | -74 | 127 | |||||||||||||||||||||||
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities | ||||||||||||||||||||||||||
interest income | 7 | -3 | 4 | |||||||||||||||||||||||
Less: Net gains (losses) realized on sales of securities reclassified to noninterest income | 5 | -2 | 3 | |||||||||||||||||||||||
Net unrealized gains (losses) on non-OTTI securities | 189 | -69 | 120 | |||||||||||||||||||||||
Balance at March 31, 2014 | 836 | -307 | 529 | |||||||||||||||||||||||
Balance at December 31, 2014 | 1,022 | -375 | 647 | |||||||||||||||||||||||
First Quarter 2015 activity | ||||||||||||||||||||||||||
Increase in net unrealized gains (losses) on non-OTTI securities | 132 | -49 | 83 | |||||||||||||||||||||||
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities | ||||||||||||||||||||||||||
interest income | 7 | -3 | 4 | |||||||||||||||||||||||
Less: Net gains (losses) realized on sales of securities reclassified to noninterest income | 51 | -19 | 32 | |||||||||||||||||||||||
Net unrealized gains (losses) on non-OTTI securities | 74 | -27 | 47 | |||||||||||||||||||||||
Balance at March 31, 2015 | $ | 1,096 | $ | -402 | $ | 694 | ||||||||||||||||||||
Net unrealized gains (losses) on OTTI securities | ||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | 36 | $ | -12 | $ | 24 | ||||||||||||||||||||
First Quarter 2014 activity | ||||||||||||||||||||||||||
Increase in net unrealized gains (losses) on OTTI securities | 64 | -24 | 40 | |||||||||||||||||||||||
Less: OTTI losses realized on securities reclassified to noninterest income | -2 | 1 | -1 | |||||||||||||||||||||||
Net unrealized gains (losses) on OTTI securities | 66 | -25 | 41 | |||||||||||||||||||||||
Balance at March 31, 2014 | 102 | -37 | 65 | |||||||||||||||||||||||
Balance at December 31, 2014 | 115 | -41 | 74 | |||||||||||||||||||||||
First Quarter 2015 activity | ||||||||||||||||||||||||||
Increase in net unrealized gains (losses) on OTTI securities | 2 | -1 | 1 | |||||||||||||||||||||||
Less: OTTI losses realized on securities reclassified to noninterest income | -1 | -1 | ||||||||||||||||||||||||
Net unrealized gains (losses) on OTTI securities | 3 | -1 | 2 | |||||||||||||||||||||||
Balance at March 31, 2015 | $ | 118 | $ | -42 | $ | 76 | ||||||||||||||||||||
Net unrealized gains (losses) on cash flow hedge derivatives | ||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | 384 | $ | -141 | $ | 243 | ||||||||||||||||||||
First Quarter 2014 activity | ||||||||||||||||||||||||||
Increase in net unrealized gains (losses) on cash flow hedge derivatives | 72 | -26 | 46 | |||||||||||||||||||||||
Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income (a) | 69 | -25 | 44 | |||||||||||||||||||||||
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities | ||||||||||||||||||||||||||
interest income (a) | 3 | -1 | 2 | |||||||||||||||||||||||
Less: Net gains (losses) realized on sales of securities reclassified to noninterest income (a) | 5 | -2 | 3 | |||||||||||||||||||||||
Net unrealized gains (losses) on cash flow hedge derivatives | -5 | 2 | -3 | |||||||||||||||||||||||
Balance at March 31, 2014 | 379 | -139 | 240 | |||||||||||||||||||||||
Balance at December 31, 2014 | 552 | -202 | 350 | |||||||||||||||||||||||
First Quarter 2015 activity | ||||||||||||||||||||||||||
Increase in net unrealized gains (losses) on cash flow hedge derivatives | 298 | -110 | 188 | |||||||||||||||||||||||
Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income (a) | 64 | -23 | 41 | |||||||||||||||||||||||
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities | ||||||||||||||||||||||||||
interest income (a) | 4 | -2 | 2 | |||||||||||||||||||||||
Less: Net gains (losses) realized on sales of securities reclassified to noninterest income (a) | -9 | 3 | -6 | |||||||||||||||||||||||
Net unrealized gains (losses) on cash flow hedge derivatives | 239 | -88 | 151 | |||||||||||||||||||||||
Balance at March 31, 2015 | $ | 791 | $ | -290 | $ | 501 | ||||||||||||||||||||
In millions | Pretax | Tax | After-tax | |||||||||||||||||||||||
Pension and other postretirement benefit plan adjustments | ||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | -374 | $ | 137 | $ | -237 | ||||||||||||||||||||
First Quarter 2014 activity | ||||||||||||||||||||||||||
Net pension and other postretirement benefit plan activity | 83 | -31 | 52 | |||||||||||||||||||||||
Amortization of actuarial loss (gain) reclassified to other noninterest expense | 1 | 1 | ||||||||||||||||||||||||
Amortization of prior service cost (credit) reclassified to other noninterest expense | -2 | 1 | -1 | |||||||||||||||||||||||
Total First Quarter 2014 activity | 82 | -30 | 52 | |||||||||||||||||||||||
Balance at March 31, 2014 | -292 | 107 | -185 | |||||||||||||||||||||||
Balance at December 31, 2014 | -820 | 300 | -520 | |||||||||||||||||||||||
First Quarter 2015 activity | ||||||||||||||||||||||||||
Net pension and other postretirement benefit plan activity | 53 | -20 | 33 | |||||||||||||||||||||||
Amortization of actuarial loss (gain) reclassified to other noninterest expense | 9 | -3 | 6 | |||||||||||||||||||||||
Amortization of prior service cost (credit) reclassified to other noninterest expense | -2 | 1 | -1 | |||||||||||||||||||||||
Total First Quarter 2015 activity | 60 | -22 | 38 | |||||||||||||||||||||||
Balance at March 31, 2015 | $ | -760 | $ | 278 | $ | -482 | ||||||||||||||||||||
Other | ||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | -20 | $ | 17 | $ | -3 | ||||||||||||||||||||
First Quarter 2014 Activity | ||||||||||||||||||||||||||
PNC's portion of BlackRock's OCI | 11 | -4 | 7 | |||||||||||||||||||||||
Net investment hedge derivatives (b) | -7 | 3 | -4 | |||||||||||||||||||||||
Foreign currency translation adjustments (c) | 7 | 7 | ||||||||||||||||||||||||
Total First Quarter 2014 activity | 11 | -1 | 10 | |||||||||||||||||||||||
Balance at March 31, 2014 | -9 | 16 | 7 | |||||||||||||||||||||||
Balance at December 31, 2014 | -59 | 11 | -48 | |||||||||||||||||||||||
First Quarter 2015 Activity | ||||||||||||||||||||||||||
PNC's portion of BlackRock's OCI | -25 | 9 | -16 | |||||||||||||||||||||||
Net investment hedge derivatives (b) | 54 | -20 | 34 | |||||||||||||||||||||||
Foreign currency translation adjustments (c) | -56 | -56 | ||||||||||||||||||||||||
Total First Quarter 2015 activity | -27 | -11 | -38 | |||||||||||||||||||||||
Balance at March 31, 2015 | $ | -86 | $ | $ | -86 | |||||||||||||||||||||
(a) | Cash flow hedge derivatives are interest rate contract derivatives designated as hedging instruments under GAAP. | |||||||||||||||||||||||||
(b) | Net investment hedge derivatives are foreign exchange contracts designated as hedging instruments under GAAP. | |||||||||||||||||||||||||
(c) | The earnings of PNC's Luxembourg-UK lending business have been indefinitely reinvested; thereafter, no U.S. deferred income tax has been recorded on the foreign currency translation of the investment. | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) Components | Table 110: Accumulated Other Comprehensive Income (Loss) Components | |||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||||||
In millions | Pretax | After-tax | Pretax | After-tax | ||||||||||||||||||||||
Net unrealized gains (losses) on non-OTTI securities | $ | 1,096 | $ | 694 | $ | 1,022 | $ | 647 | ||||||||||||||||||
Net unrealized gains (losses) on OTTI securities | 118 | 76 | 115 | 74 | ||||||||||||||||||||||
Net unrealized gains (losses) on cash flow hedge derivatives | 791 | 501 | 552 | 350 | ||||||||||||||||||||||
Pension and other postretirement benefit plan adjustments | -760 | -482 | -820 | -520 | ||||||||||||||||||||||
Other | -86 | -86 | -59 | -48 | ||||||||||||||||||||||
Accumulated other comprehensive income (loss) | $ | 1,159 | $ | 703 | $ | 810 | $ | 503 | ||||||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Income Taxes [Abstract] | |||||||||
Net Operating Loss Carryforwards and Tax Credit Carryforwards | Table 111: Net Operating Loss Carryforwards and Tax Credit Carryforwards | ||||||||
31-Mar | 31-Dec | ||||||||
In millions | 2015 | 2014 | |||||||
Net Operating Loss Carryforwards: | |||||||||
Federal | $ | 977 | $ | 997 | |||||
State | $ | 2,536 | $ | 2,594 | |||||
Tax Credit Carryforwards: | |||||||||
Federal | $ | 35 | $ | 35 | |||||
State | $ | 7 | $ | 7 |
Commitments_And_Guarantees_Tab
Commitments And Guarantees (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Commitments and Guarantees [Abstract] | |||||||||||||||||||||
Commitments to Extend Credit and Other Commitments | Table 112: Commitments to Extend Credit and Other Commitments | ||||||||||||||||||||
31-Mar | 31-Dec | ||||||||||||||||||||
In millions | 2015 | 2014 | |||||||||||||||||||
Commitments to extend credit | |||||||||||||||||||||
Total commercial lending | $ | 96,866 | $ | 99,837 | |||||||||||||||||
Home equity lines of credit | 17,784 | 17,839 | |||||||||||||||||||
Credit card | 18,539 | 17,833 | |||||||||||||||||||
Other | 4,771 | 4,178 | |||||||||||||||||||
Total commitments to extend credit | 137,960 | 139,687 | |||||||||||||||||||
Net outstanding standby letters of credit (a) | 9,750 | 9,991 | |||||||||||||||||||
Reinsurance agreements | 2,428 | 4,297 | |||||||||||||||||||
Standby bond purchase agreements (b) | 1,080 | 1,095 | |||||||||||||||||||
Other commitments related to equity investments (c) | 970 | 962 | |||||||||||||||||||
Total commitments to extend credit and other commitments | $ | 152,188 | $ | 156,032 | |||||||||||||||||
(a) | Net outstanding standby letters of credit include $5.4 billion and $5.2 billion which support remarketing programs at March 31, 2015 and December 31, 2014, respectively. | ||||||||||||||||||||
(b) | We enter into standby bond purchase agreements to support municipal bond obligations. | ||||||||||||||||||||
(c) | Includes $411 million and $441 million related to investments in qualified affordable housing projects at March 31, 2015 and December 31, 2014, respectively. | ||||||||||||||||||||
Internal Credit Ratings Related to Net Outstanding Standby Letters of Credit | Table 113: Internal Credit Ratings Related to Net Outstanding Standby Letters of Credit | ||||||||||||||||||||
31-Mar | 31-Dec | ||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||
Internal credit ratings (as a percentage of portfolio): | |||||||||||||||||||||
Pass (a) | 95 | % | 95 | % | |||||||||||||||||
Below pass (b) | 5 | % | 5 | % | |||||||||||||||||
(a) | Indicates that expected risk of loss is currently low. | ||||||||||||||||||||
(b) | Indicates a higher degree of risk of default. | ||||||||||||||||||||
Reinsurance Agreements Exposure | Table 114: Reinsurance Agreements Exposure (a) (b) | ||||||||||||||||||||
31-Mar | 31-Dec | ||||||||||||||||||||
In millions | 2015 | 2014 | |||||||||||||||||||
Accidental Death & Dismemberment | $ | 1,740 | $ | 1,774 | |||||||||||||||||
Credit Life, Accident & Health | 441 | 467 | |||||||||||||||||||
Lender Placed Hazard (c) (d) | 247 | 2,056 | |||||||||||||||||||
Maximum Exposure (e) | $ | 2,428 | $ | 4,297 | |||||||||||||||||
Maximum Exposure to Quota Share Agreements with 100% Reinsurance | $ | 440 | $ | 466 | |||||||||||||||||
(a) | Reinsurance agreements exposure balances represent estimates based on availability of financial information from insurance carriers. | ||||||||||||||||||||
(b) | All programs are in run-off for coverage issued. | ||||||||||||||||||||
(c) | Through the purchase of catastrophe reinsurance connected to the Lender Placed Hazard Exposure, should a catastrophic event occur, PNC will benefit from this reinsurance. No credit for the catastrophe reinsurance protection is applied to the aggregate exposure figure. | ||||||||||||||||||||
(d) | Program was placed into run-off for coverage issued or renewed on or after June 1, 2014 with policy terms one year or less. | ||||||||||||||||||||
(e) | The Borrower and Lender Paid Mortgage Insurance program was placed into run-off. Most of these policies carry no liability to PNC, and due to immateriality this program is no longer included in the maximum exposure amount. | ||||||||||||||||||||
Reinsurance Reserves Rollforward | A rollforward of the reinsurance reserves for probable losses for the first three months of 2015 and 2014 follows: | ||||||||||||||||||||
Table 115: Reinsurance Reserves - Rollforward | |||||||||||||||||||||
In millions | 2015 | 2014 | |||||||||||||||||||
1-Jan | $ | 13 | $ | 32 | |||||||||||||||||
Paid Losses | -3 | -7 | |||||||||||||||||||
Net Provision | 3 | 3 | |||||||||||||||||||
31-Mar | $ | 13 | $ | 28 | |||||||||||||||||
Analysis of Commercial Mortgage Recourse Obligations | Table 116: Analysis of Commercial Mortgage Recourse Obligations | ||||||||||||||||||||
In millions | 2015 | 2014 | |||||||||||||||||||
1-Jan | $ | 35 | $ | 33 | |||||||||||||||||
Reserve adjustments, net | 3 | ||||||||||||||||||||
31-Mar | $ | 38 | $ | 33 | |||||||||||||||||
Analysis of Indemnification and Repurchase Liability for Asserted Claims and Unasserted Claims | Table 117: Analysis of Indemnification and Repurchase Liability for Asserted Claims and Unasserted Claims | ||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||
Home | Home | ||||||||||||||||||||
Equity | Equity | ||||||||||||||||||||
Residential | Loans/ | Residential | Loans/ | ||||||||||||||||||
In millions | Mortgages (a) | Lines (b) | Total | Mortgages (a) | Lines (b)(c) | Total | |||||||||||||||
1-Jan | $ | 107 | $ | 29 | $ | 136 | $ | 131 | $ | 22 | $ | 153 | |||||||||
Reserve adjustments, net | 1 | 1 | -19 | 3 | -16 | ||||||||||||||||
Losses - loan repurchases and private investor settlements | -2 | -1 | -3 | -9 | -6 | -15 | |||||||||||||||
31-Mar | $ | 106 | $ | 28 | $ | 134 | $ | 103 | $ | 19 | $ | 122 | |||||||||
(a) | The unpaid principal balance of loans associated with our exposure to repurchase obligations totaled $67.6 billion and $70.5 billion at March 31, 2015 and March 31, 2014, respectively. | ||||||||||||||||||||
(b) | Repurchase obligation was associated with sold loan portfolios of $2.4 billion and $2.8 billion at March 31, 2015 and March 31, 2014, respectively. PNC is no longer engaged in the brokered home equity lending business, which was acquired with National City. | ||||||||||||||||||||
(c) | In prior periods, the unpaid principal balance of loans serviced for home equity loans/lines of credit in (b) above reflected the outstanding balance at the time of charge-off. During the second quarter of 2014, we corrected the outstanding principal balance to reflect the unpaid principal balance as of the reporting date. Accordingly, the prior period amount as of March 31, 2014 was reduced by $.8 billion. | ||||||||||||||||||||
Resale and Repurchase Agreements Offsetting | Table 118: Resale and Repurchase Agreements Offsetting | ||||||||||||||||||||
Amounts | Securities | ||||||||||||||||||||
Offset | Collateral | ||||||||||||||||||||
Gross | on the | Net | Held Under | ||||||||||||||||||
Resale | Consolidated | Resale | Master Netting | Net | |||||||||||||||||
In millions | Agreements | Balance Sheet | Agreements (a) | Agreements (b) | Amounts (c) | ||||||||||||||||
Resale Agreements | |||||||||||||||||||||
31-Mar-15 | $ | 1,733 | $ | 1,733 | $ | 1,659 | $ | 74 | |||||||||||||
31-Dec-14 | $ | 1,646 | $ | 1,646 | $ | 1,569 | $ | 77 | |||||||||||||
Amounts | Securities | ||||||||||||||||||||
Offset | Collateral | ||||||||||||||||||||
Gross | on the | Net | Pledged Under | ||||||||||||||||||
Repurchase | Consolidated | Repurchase | Master Netting | Net | |||||||||||||||||
In millions | Agreements | Balance Sheet | Agreements (d) | Agreements (b) | Amounts (e) | ||||||||||||||||
Repurchase Agreements | |||||||||||||||||||||
31-Mar-15 | $ | 2,153 | $ | 2,153 | $ | 1,362 | $ | 791 | |||||||||||||
31-Dec-14 | $ | 3,406 | $ | 3,406 | $ | 2,580 | $ | 826 | |||||||||||||
(a) | Represents the resale agreement amount included in Federal funds sold and resale agreements on our Consolidated Balance Sheet and the related accrued interest income in the amount of less than $1 million at March 31, 2015 and $1 million at December 31, 2014, respectively, which is included in Other Assets on the Consolidated Balance Sheet. | ||||||||||||||||||||
(b) | Represents the fair value of securities collateral purchased or sold, up to the amount owed under the agreement, for agreements supported by a legally enforceable master netting agreement. | ||||||||||||||||||||
(c) | Represents certain long term resale agreements which are fully collateralized but do not have the benefits of a netting opinion and, therefore, might be subject to a stay in insolvency proceedings and therefore are not eligible under ASC 210-20 for netting. | ||||||||||||||||||||
(d) | Represents the repurchase agreement amount included in Federal funds purchased and repurchase agreements on our Consolidated Balance Sheet and the related accrued interest expense in the amount of less than $1 million at both March 31, 2015 and December 31, 2014, which is included in Other Liabilities on the Consolidated Balance Sheet. | ||||||||||||||||||||
(e) | Represents overnight repurchase agreements entered into with municipalities, pension plans, and certain trusts and insurance companies which are fully collateralized but do not have the benefits of a netting opinion and, therefore, might be subject to a stay in insolvency proceedings and therefore are not eligible under ASC 210-20 for netting. There were no long term repurchase agreements as of March 31, 2015 and December 31, 2014. |
Segment_Reporting_Tables
Segment Reporting (Tables) | 3 Months Ended | |||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||||||||
Results of Businesses | Table 119: Results Of Businesses | |||||||||||||||||||||||||
Corporate & | Asset | Residential | Non-Strategic | |||||||||||||||||||||||
Three months ended March 31 | Retail | Institutional | Management | Mortgage | Assets | |||||||||||||||||||||
In millions | Banking | Banking | Group | Banking | BlackRock | Portfolio | Other | Consolidated | ||||||||||||||||||
2015 | ||||||||||||||||||||||||||
Income Statement | ||||||||||||||||||||||||||
Net interest income | $ | 1,037 | $ | 823 | $ | 73 | $ | 30 | $ | 112 | $ | -3 | $ | 2,072 | ||||||||||||
Noninterest income | 488 | 429 | 208 | 177 | $ | 175 | 9 | 173 | 1,659 | |||||||||||||||||
Total revenue | 1,525 | 1,252 | 281 | 207 | 175 | 121 | 170 | 3,731 | ||||||||||||||||||
Provision for credit losses (benefit) | 49 | 17 | 12 | 2 | -31 | 5 | 54 | |||||||||||||||||||
Depreciation and amortization | 43 | 36 | 11 | 4 | 99 | 193 | ||||||||||||||||||||
Other noninterest expense | 1,115 | 478 | 199 | 157 | 24 | 183 | 2,156 | |||||||||||||||||||
Income (loss) before income taxes and noncontrolling interests | 318 | 721 | 59 | 44 | 175 | 128 | -117 | 1,328 | ||||||||||||||||||
Income taxes (benefit) | 116 | 239 | 22 | 16 | 40 | 47 | -156 | 324 | ||||||||||||||||||
Net income | $ | 202 | $ | 482 | $ | 37 | $ | 28 | $ | 135 | $ | 81 | $ | 39 | $ | 1,004 | ||||||||||
Inter-segment revenue | $ | 2 | $ | 2 | $ | 5 | $ | 4 | $ | -2 | $ | -11 | ||||||||||||||
Average Assets (a) | $ | 74,017 | $ | 131,178 | $ | 7,943 | $ | 7,245 | $ | 6,645 | $ | 7,276 | $ | 113,753 | $ | 348,057 | ||||||||||
2014 | ||||||||||||||||||||||||||
Income Statement | ||||||||||||||||||||||||||
Net interest income | $ | 980 | $ | 903 | $ | 71 | $ | 40 | $ | 142 | $ | 59 | $ | 2,195 | ||||||||||||
Noninterest income | 514 | 364 | 199 | 166 | $ | 160 | 6 | 173 | 1,582 | |||||||||||||||||
Total revenue | 1,494 | 1,267 | 270 | 206 | 160 | 148 | 232 | 3,777 | ||||||||||||||||||
Provision for credit losses (benefit) | 145 | -13 | 12 | -1 | -52 | 3 | 94 | |||||||||||||||||||
Depreciation and amortization | 44 | 31 | 10 | 3 | 93 | 181 | ||||||||||||||||||||
Other noninterest expense | 1,056 | 457 | 189 | 210 | 26 | 145 | 2,083 | |||||||||||||||||||
Income (loss) before income taxes and noncontrolling interests | 249 | 792 | 59 | -6 | 160 | 174 | -9 | 1,419 | ||||||||||||||||||
Income taxes (benefit) | 91 | 269 | 22 | -2 | 37 | 64 | -122 | 359 | ||||||||||||||||||
Net income (loss) | $ | 158 | $ | 523 | $ | 37 | $ | -4 | $ | 123 | $ | 110 | $ | 113 | $ | 1,060 | ||||||||||
Inter-segment revenue | $ | 1 | $ | -2 | $ | 3 | $ | 4 | $ | 4 | $ | -3 | $ | -7 | ||||||||||||
Average Assets (a) | $ | 75,920 | $ | 117,937 | $ | 7,599 | $ | 8,777 | $ | 6,272 | $ | 8,889 | $ | 94,168 | $ | 319,562 | ||||||||||
(a) | Period-end balances for BlackRock. |
Accounting_Policies_Details
Accounting Policies (Details) (USD $) | Mar. 31, 2015 |
In Millions, unless otherwise specified | |
Charge off threshold - small business commercial loans | $1 |
Loan_Sale_and_Servicing_Activi2
Loan Sale and Servicing Activities and Variable Interest Entities (Certain Financial Information and Cash Flows Associated with Loan Sale and Servicing Activities) (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
Residential Mortgages [Member] | |||
Servicing portfolio | $112,932,000,000 | $108,010,000,000 | |
Carrying value of servicing assets | 839,000,000 | 845,000,000 | |
Servicing advances | 510,000,000 | 501,000,000 | |
Repurchase and recourse obligations | 106,000,000 | 107,000,000 | |
Carrying value of mortgage-backed securities held | 5,188,000,000 | 3,365,000,000 | |
Cash flows from sales of loans | 1,940,000,000 | 2,095,000,000 | |
Cash flows from repurchases of previously transferred loans | 169,000,000 | 209,000,000 | |
Cash flows from servicing fees | 83,000,000 | 87,000,000 | |
Cash flows from servicing advances recovered | 30,000,000 | ||
Cash flows on mortgage-backed securities held | 240,000,000 | 232,000,000 | |
Cash flows from servicing advances (funded) | -9,000,000 | ||
Commercial Mortgages [Member] | |||
Servicing portfolio | 190,394,000,000 | 186,032,000,000 | |
Carrying value of servicing assets | 494,000,000 | 506,000,000 | |
Servicing advances | 292,000,000 | 299,000,000 | |
Repurchase and recourse obligations | 38,000,000 | 35,000,000 | |
Carrying value of mortgage-backed securities held | 1,134,000,000 | 1,269,000,000 | |
Cash flows from sales of loans | 1,020,000,000 | 439,000,000 | |
Cash flows from servicing fees | 32,000,000 | 41,000,000 | |
Cash flows from servicing advances recovered | 7,000,000 | 32,000,000 | |
Cash flows on mortgage-backed securities held | 60,000,000 | 144,000,000 | |
Home Equity Loans Lines [Member] | |||
Servicing portfolio | 3,686,000,000 | 3,833,000,000 | |
Servicing advances | 7,000,000 | 31,000,000 | |
Repurchase and recourse obligations | 28,000,000 | 29,000,000 | |
Cash flows from repurchases of previously transferred loans | 2,000,000 | 6,000,000 | |
Cash flows from servicing fees | 4,000,000 | 5,000,000 | |
Cash flows from servicing advances recovered | $24,000,000 | $3,000,000 |
Loan_Sale_and_Servicing_Activi3
Loan Sale and Servicing Activities and Variable Interest Entities (Principal Balance, Delinquent Loans (Loans 90 Days or More Past Due), and Net Charge-Offs Related to Serviced Loans) (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
Residential Mortgages [Member] | |||
Total principal balance | $77,476,000,000 | $79,108,000,000 | |
Delinquent loans | 2,435,000,000 | 2,657,000,000 | |
Net charge-offs | 32,000,000 | 41,000,000 | |
Commercial Mortgages [Member] | |||
Total principal balance | 59,289,000,000 | 60,873,000,000 | |
Delinquent loans | 747,000,000 | 707,000,000 | |
Net charge-offs | 107,000,000 | 355,000,000 | |
Home Equity Loans Lines [Member] | |||
Total principal balance | 3,686,000,000 | 3,833,000,000 | |
Delinquent loans | 1,249,000,000 | 1,303,000,000 | |
Net charge-offs | $7,000,000 | $17,000,000 |
Loan_Sale_and_Servicing_Activi4
Loan Sale and Servicing Activities and Variable Interest Entities (Consolidated VIEs - Carrying Value) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | |||
Cash and due from banks | $4,151,000,000 | [1] | $4,360,000,000 | [1] | $4,723,000,000 | $4,043,000,000 | |
Interest-earning deposits with banks | 31,198,000,000 | [1] | 31,779,000,000 | [1] | |||
Loans | 204,722,000,000 | [1],[2] | 204,817,000,000 | [1],[2] | 198,242,000,000 | ||
Allowance for loan and lease losses | -3,306,000,000 | [1] | -3,331,000,000 | [1] | -3,530,000,000 | [1] | -3,609,000,000 |
Equity investments | 10,523,000,000 | [1] | 10,728,000,000 | [1] | |||
Other assets | 25,538,000,000 | [1],[2] | 23,482,000,000 | [1],[2] | |||
Total assets | 350,960,000,000 | 345,072,000,000 | |||||
Other borrowed funds | 3,571,000,000 | [1],[2] | 3,357,000,000 | [1],[2] | |||
Accrued expenses | 5,039,000,000 | [1] | 5,187,000,000 | [1] | |||
Other liabilities | 5,917,000,000 | [1] | 4,550,000,000 | [1] | |||
Total liabilities | 304,522,000,000 | 298,998,000,000 | |||||
Variable Interest Entity, Primary Beneficiary [Member] | |||||||
Cash and due from banks | 6,000,000 | [1] | 6,000,000 | [1] | |||
Interest-earning deposits with banks | 6,000,000 | [1] | 6,000,000 | [1] | |||
Loans | 1,486,000,000 | [1] | 1,606,000,000 | [1] | |||
Allowance for loan and lease losses | -46,000,000 | [1] | -50,000,000 | [1] | |||
Equity investments | 334,000,000 | [1] | 492,000,000 | [1] | |||
Other assets | 434,000,000 | [1] | 483,000,000 | [1] | |||
Total assets | 2,220,000,000 | 2,543,000,000 | |||||
Other borrowed funds | 341,000,000 | [1] | 347,000,000 | [1] | |||
Accrued expenses | 69,000,000 | [1] | 70,000,000 | [1] | |||
Other liabilities | 142,000,000 | [1] | 206,000,000 | [1] | |||
Total liabilities | 552,000,000 | 623,000,000 | |||||
Variable Interest Entity, Primary Beneficiary [Member] | Credit Card and Other Securitization Trusts [Member] | |||||||
Loans | 1,486,000,000 | 1,606,000,000 | |||||
Allowance for loan and lease losses | -46,000,000 | -50,000,000 | |||||
Other assets | 6,000,000 | 31,000,000 | |||||
Total assets | 1,446,000,000 | 1,587,000,000 | |||||
Other borrowed funds | 160,000,000 | 166,000,000 | |||||
Total liabilities | 160,000,000 | 166,000,000 | |||||
Variable Interest Entity, Primary Beneficiary [Member] | Tax Credit Investments | |||||||
Cash and due from banks | 6,000,000 | 6,000,000 | |||||
Interest-earning deposits with banks | 6,000,000 | 6,000,000 | |||||
Equity investments | 334,000,000 | 492,000,000 | |||||
Other assets | 428,000,000 | 452,000,000 | |||||
Total assets | 774,000,000 | 956,000,000 | |||||
Other borrowed funds | 181,000,000 | 181,000,000 | |||||
Accrued expenses | 69,000,000 | 70,000,000 | |||||
Other liabilities | 142,000,000 | 206,000,000 | |||||
Total liabilities | $392,000,000 | $457,000,000 | |||||
[1] | Amounts represent the assets or liabilities of consolidated variable interest entities (VIEs). | ||||||
[2] | Amounts represent items for which we have elected the fair value option. |
Loan_Sale_and_Servicing_Activi5
Loan Sale and Servicing Activities and Variable Interest Entities (Non-Consolidated VIEs) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Aggregate Assets | $284,264,000,000 | $123,165,000,000 |
Aggregate Liabilities | 279,615,000,000 | 118,605,000,000 |
PNC Risk of Loss | 8,882,000,000 | 7,205,000,000 |
Carrying Value of Assets Owned by PNC | 8,922,000,000 | 7,239,000,000 |
Carrying Value of Liabilities Owned by PNC | 794,000,000 | 782,000,000 |
Commercial Mortgage-Backed Securitizations [Member] | ||
Aggregate Assets | 50,756,000,000 | 53,436,000,000 |
Aggregate Liabilities | 50,756,000,000 | 53,436,000,000 |
PNC Risk of Loss | 1,390,000,000 | 1,550,000,000 |
Carrying Value of Assets Owned by PNC | 1,390,000,000 | 1,550,000,000 |
Carrying Value of Liabilities Owned by PNC | 1,000,000 | 1,000,000 |
Residential Mortgage-Backed Securitizations [Member] | ||
Aggregate Assets | 225,877,000,000 | 62,236,000,000 |
Aggregate Liabilities | 225,877,000,000 | 62,236,000,000 |
PNC Risk of Loss | 5,217,000,000 | 3,385,000,000 |
Carrying Value of Assets Owned by PNC | 5,217,000,000 | 3,385,000,000 |
Carrying Value of Liabilities Owned by PNC | 1,000,000 | 4,000,000 |
Tax Credit Investments And Other [Member] | ||
Aggregate Assets | 7,631,000,000 | 7,493,000,000 |
Aggregate Liabilities | 2,982,000,000 | 2,933,000,000 |
PNC Risk of Loss | 2,275,000,000 | 2,270,000,000 |
Carrying Value of Assets Owned by PNC | 2,315,000,000 | 2,304,000,000 |
Carrying Value of Liabilities Owned by PNC | $792,000,000 | $777,000,000 |
Asset_Quality_Narrative_Detail
Asset Quality (Narrative) (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
Exclusions from TDRs | $232,000,000 | $302,000,000 | |
Troubled debt restructurings (TDRs) | 2,530,000,000 | 2,583,000,000 | |
Specific ALLL reserve for TDRs | 342,000,000 | 464,000,000 | 386,000,000 |
Nonperforming loans | 2,405,000,000 | 2,510,000,000 | |
Federal Reserve Bank [Member] | |||
Loans pledged as collateral for contingent borrowings | 19,700,000,000 | 19,200,000,000 | |
Federal Home Loan Bank [Member] | |||
Loans pledged as collateral for contingent borrowings | 54,000,000,000 | 52,800,000,000 | |
Equipment Lease Financing [Member] | Excluded from impaired loans due to authoritative lease accounting guidance [Member] | |||
Nonperforming loans | 2,000,000 | 2,000,000 | |
Nonperforming [Member] | |||
Troubled debt restructurings (TDRs) | 1,317,000,000 | 1,370,000,000 | |
Accruing [Member] | |||
Troubled debt restructurings (TDRs) | 1,089,000,000 | 1,083,000,000 | |
Performing TDRs, including credit card loans | |||
Troubled debt restructurings (TDRs) | $1,200,000,000 | $1,200,000,000 |
Asset_Quality_Analysis_of_Loan
Asset Quality (Analysis of Loan Portfolio) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | ||
Financing Receivable, Recorded Investment [Line Items] | |||||
Current or Less Than 30 Days Past Due | $195,631,000,000 | $195,234,000,000 | |||
30-59 Days Past Due | 519,000,000 | 582,000,000 | |||
60-89 Days Past Due | 243,000,000 | 259,000,000 | |||
90 Days Or More Past Due | 988,000,000 | 1,105,000,000 | |||
Total Past Due | 1,750,000,000 | 1,946,000,000 | |||
Nonperforming loans | 2,405,000,000 | 2,510,000,000 | |||
Fair Value Option Nonaccrual Loans | 261,000,000 | 269,000,000 | |||
Purchased impaired loans | 4,675,000,000 | 4,858,000,000 | 5,824,000,000 | ||
Total loans | 204,722,000,000 | [1],[2] | 204,817,000,000 | [1],[2] | 198,242,000,000 |
Unearned income, net deferred loan fees, unamortized discounts and premiums, and purchase discounts and premiums | 1,600,000,000 | 1,700,000,000 | |||
Current or Less Than 30 Days Past Due [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Percentage of total loans | 95.56% | 95.32% | |||
30-59 Days Past Due [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Percentage of total loans | 0.25% | 0.28% | |||
60-89 Days Past Due [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Percentage of total loans | 0.12% | 0.13% | |||
90 Days Or More Past Due [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Percentage of total loans | 0.48% | 0.54% | |||
Total Past Due [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Percentage of total loans | 0.85% | 0.95% | |||
Nonperforming Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Percentage of total loans | 1.17% | 1.23% | |||
Fair Value Option Nonaccrual Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Percentage of total loans | 0.13% | 0.13% | |||
Purchased Impaired [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Percentage of total loans | 2.29% | 2.37% | |||
Total Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Percentage of total loans | 100.00% | 100.00% | |||
Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Current or Less Than 30 Days Past Due | 128,633,000,000 | 127,261,000,000 | |||
30-59 Days Past Due | 113,000,000 | 107,000,000 | |||
60-89 Days Past Due | 43,000,000 | 27,000,000 | |||
90 Days Or More Past Due | 35,000,000 | 37,000,000 | |||
Total Past Due | 191,000,000 | 171,000,000 | |||
Nonperforming loans | 575,000,000 | 626,000,000 | |||
Purchased impaired loans | 276,000,000 | 310,000,000 | 569,000,000 | ||
Total loans | 129,675,000,000 | 128,368,000,000 | 120,773,000,000 | ||
Total consumer lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Current or Less Than 30 Days Past Due | 66,998,000,000 | 67,973,000,000 | |||
30-59 Days Past Due | 406,000,000 | 475,000,000 | |||
60-89 Days Past Due | 200,000,000 | 232,000,000 | |||
90 Days Or More Past Due | 953,000,000 | 1,068,000,000 | |||
Total Past Due | 1,559,000,000 | 1,775,000,000 | |||
Nonperforming loans | 1,830,000,000 | 1,884,000,000 | |||
Fair Value Option Nonaccrual Loans | 261,000,000 | 269,000,000 | |||
Purchased impaired loans | 4,399,000,000 | 4,548,000,000 | 5,255,000,000 | ||
Total loans | 75,047,000,000 | 76,449,000,000 | 77,469,000,000 | ||
Commercial [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Current or Less Than 30 Days Past Due | 97,182,000,000 | 96,922,000,000 | |||
30-59 Days Past Due | 73,000,000 | 73,000,000 | |||
60-89 Days Past Due | 20,000,000 | 24,000,000 | |||
90 Days Or More Past Due | 35,000,000 | 37,000,000 | |||
Total Past Due | 128,000,000 | 134,000,000 | |||
Nonperforming loans | 280,000,000 | 290,000,000 | |||
Purchased impaired loans | 60,000,000 | 74,000,000 | |||
Total loans | 97,650,000,000 | 97,420,000,000 | |||
Commercial Real Estate [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Current or Less Than 30 Days Past Due | 23,999,000,000 | 22,667,000,000 | |||
30-59 Days Past Due | 24,000,000 | 23,000,000 | |||
60-89 Days Past Due | 23,000,000 | 2,000,000 | |||
Total Past Due | 47,000,000 | 25,000,000 | |||
Nonperforming loans | 293,000,000 | 334,000,000 | |||
Purchased impaired loans | 216,000,000 | 236,000,000 | |||
Total loans | 24,555,000,000 | 23,262,000,000 | |||
Equipment Lease Financing [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Current or Less Than 30 Days Past Due | 7,452,000,000 | 7,672,000,000 | |||
30-59 Days Past Due | 16,000,000 | 11,000,000 | |||
60-89 Days Past Due | 1,000,000 | ||||
Total Past Due | 16,000,000 | 12,000,000 | |||
Nonperforming loans | 2,000,000 | 2,000,000 | |||
Total loans | 7,470,000,000 | 7,686,000,000 | |||
Home Equity [Member] | Total consumer lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Current or Less Than 30 Days Past Due | 30,955,000,000 | 31,474,000,000 | |||
30-59 Days Past Due | 61,000,000 | 70,000,000 | |||
60-89 Days Past Due | 30,000,000 | 32,000,000 | |||
Total Past Due | 91,000,000 | 102,000,000 | |||
Nonperforming loans | 1,101,000,000 | 1,112,000,000 | |||
Purchased impaired loans | 1,918,000,000 | 1,989,000,000 | |||
Total loans | 34,065,000,000 | 34,677,000,000 | |||
Residential Real Estate [Member] | Total consumer lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Current or Less Than 30 Days Past Due | 10,227,000,000 | 9,900,000,000 | |||
30-59 Days Past Due | 142,000,000 | 163,000,000 | |||
60-89 Days Past Due | 53,000,000 | 68,000,000 | |||
90 Days Or More Past Due | 660,000,000 | 742,000,000 | |||
Total Past Due | 855,000,000 | 973,000,000 | |||
Nonperforming loans | 665,000,000 | 706,000,000 | |||
Fair Value Option Nonaccrual Loans | 261,000,000 | 269,000,000 | |||
Purchased impaired loans | 2,481,000,000 | 2,559,000,000 | |||
Total loans | 14,489,000,000 | 14,407,000,000 | |||
Residential Real Estate [Member] | Total consumer lending [Member] | 30-59 Days Past Due [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Government insured or guaranteed loans included in past due loans | 70,000,000 | 68,000,000 | |||
Residential Real Estate [Member] | Total consumer lending [Member] | 60-89 Days Past Due [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Government insured or guaranteed loans included in past due loans | 35,000,000 | 43,000,000 | |||
Residential Real Estate [Member] | Total consumer lending [Member] | 90 Days Or More Past Due [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Government insured or guaranteed loans included in past due loans | 634,000,000 | 719,000,000 | |||
Credit Card [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total loans | 4,434,000,000 | 4,612,000,000 | |||
Credit Card [Member] | Total consumer lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Current or Less Than 30 Days Past Due | 4,357,000,000 | 4,528,000,000 | |||
30-59 Days Past Due | 25,000,000 | 28,000,000 | |||
60-89 Days Past Due | 17,000,000 | 20,000,000 | |||
90 Days Or More Past Due | 32,000,000 | 33,000,000 | |||
Total Past Due | 74,000,000 | 81,000,000 | |||
Nonperforming loans | 3,000,000 | 3,000,000 | |||
Total loans | 4,434,000,000 | 4,612,000,000 | |||
Other Consumer [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total loans | 22,059,000,000 | 22,753,000,000 | |||
Other Consumer [Member] | Total consumer lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Current or Less Than 30 Days Past Due | 21,459,000,000 | 22,071,000,000 | |||
30-59 Days Past Due | 178,000,000 | 214,000,000 | |||
60-89 Days Past Due | 100,000,000 | 112,000,000 | |||
90 Days Or More Past Due | 261,000,000 | 293,000,000 | |||
Total Past Due | 539,000,000 | 619,000,000 | |||
Nonperforming loans | 61,000,000 | 63,000,000 | |||
Total loans | 22,059,000,000 | 22,753,000,000 | |||
Other Consumer [Member] | Total consumer lending [Member] | 30-59 Days Past Due [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Government insured or guaranteed loans included in past due loans | 126,000,000 | 152,000,000 | |||
Other Consumer [Member] | Total consumer lending [Member] | 60-89 Days Past Due [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Government insured or guaranteed loans included in past due loans | 82,000,000 | 93,000,000 | |||
Other Consumer [Member] | Total consumer lending [Member] | 90 Days Or More Past Due [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Government insured or guaranteed loans included in past due loans | $244,000,000 | $277,000,000 | |||
[1] | Amounts represent the assets or liabilities of consolidated variable interest entities (VIEs). | ||||
[2] | Amounts represent items for which we have elected the fair value option. |
Asset_Quality_Nonperforming_As
Asset Quality (Nonperforming Assets) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Nonperforming loans | $2,405,000,000 | $2,510,000,000 |
OREO and Foreclosed Assets | 349,000,000 | 370,000,000 |
Total nonperforming assets | 2,754,000,000 | 2,880,000,000 |
Nonperforming loans to total loans | 1.17% | 1.23% |
Nonperforming assets to total loans, OREO and foreclosed assets | 1.34% | 1.40% |
Nonperforming assets to total assets | 0.78% | 0.83% |
Total commercial lending [Member] | ||
Nonperforming loans | 575,000,000 | 626,000,000 |
Total consumer lending [Member] | ||
Nonperforming loans | 1,830,000,000 | 1,884,000,000 |
Commercial [Member] | Total commercial lending [Member] | ||
Nonperforming loans | 280,000,000 | 290,000,000 |
Commercial Real Estate [Member] | Total commercial lending [Member] | ||
Nonperforming loans | 293,000,000 | 334,000,000 |
Equipment Lease Financing [Member] | Total commercial lending [Member] | ||
Nonperforming loans | 2,000,000 | 2,000,000 |
Home Equity [Member] | Total consumer lending [Member] | ||
Nonperforming loans | 1,101,000,000 | 1,112,000,000 |
Residential Real Estate [Member] | Foreclosure in process [Member] | ||
Nonperforming loans | 700,000,000 | 800,000,000 |
Residential Real Estate [Member] | Foreclosure in process [Member] | Government Insured Or Guaranteed [Member] | ||
Nonperforming loans | 500,000,000 | 500,000,000 |
Residential Real Estate [Member] | Total consumer lending [Member] | ||
Nonperforming loans | 665,000,000 | 706,000,000 |
Credit Card [Member] | Total consumer lending [Member] | ||
Nonperforming loans | 3,000,000 | 3,000,000 |
Other Consumer [Member] | Total consumer lending [Member] | ||
Nonperforming loans | 61,000,000 | 63,000,000 |
OREO [Member] | ||
OREO and Foreclosed Assets | 331,000,000 | 351,000,000 |
Foreclosed and Other Assets [Member] | ||
OREO and Foreclosed Assets | $18,000,000 | $19,000,000 |
Asset_Quality_Commercial_Lendi
Asset Quality (Commercial Lending Asset Quality Indicators) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | ||
Financing Receivable, Recorded Investment [Line Items] | |||||
Purchased impaired loans | $4,675,000,000 | $4,858,000,000 | $5,824,000,000 | ||
Total Loans | 204,722,000,000 | [1],[2] | 204,817,000,000 | [1],[2] | 198,242,000,000 |
Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Purchased impaired loans | 276,000,000 | 310,000,000 | 569,000,000 | ||
Total Loans | 129,675,000,000 | 128,368,000,000 | 120,773,000,000 | ||
Commercial [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 97,590,000,000 | 97,347,000,000 | |||
Purchased impaired loans | 60,000,000 | 74,000,000 | |||
Total Loans | 97,650,000,000 | 97,420,000,000 | |||
Commercial Real Estate [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 24,339,000,000 | 23,025,000,000 | |||
Purchased impaired loans | 216,000,000 | 236,000,000 | |||
Total Loans | 24,555,000,000 | 23,262,000,000 | |||
Equipment Lease Financing [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 7,470,000,000 | 7,686,000,000 | |||
Total Loans | 7,470,000,000 | 7,686,000,000 | |||
Pass [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total Loans | 123,698,000,000 | 122,468,000,000 | |||
Pass [Member] | Commercial [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 92,972,000,000 | 92,884,000,000 | |||
Pass [Member] | Commercial Real Estate [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 23,405,000,000 | 22,066,000,000 | |||
Pass [Member] | Equipment Lease Financing [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 7,321,000,000 | 7,518,000,000 | |||
Special Mention [Member] | Criticized Commercial Loans [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Purchased impaired loans | 5,000,000 | 4,000,000 | |||
Total Loans | 2,308,000,000 | 2,346,000,000 | |||
Special Mention [Member] | Commercial [Member] | Criticized Commercial Loans [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 1,968,000,000 | 1,984,000,000 | |||
Special Mention [Member] | Commercial Real Estate [Member] | Criticized Commercial Loans [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 276,000,000 | 285,000,000 | |||
Special Mention [Member] | Equipment Lease Financing [Member] | Criticized Commercial Loans [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 59,000,000 | 73,000,000 | |||
Substandard [Member] | Criticized Commercial Loans [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Purchased impaired loans | 244,000,000 | 280,000,000 | |||
Total Loans | 3,564,000,000 | 3,436,000,000 | |||
Substandard [Member] | Commercial [Member] | Criticized Commercial Loans [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 2,601,000,000 | 2,424,000,000 | |||
Substandard [Member] | Commercial Real Estate [Member] | Criticized Commercial Loans [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 631,000,000 | 639,000,000 | |||
Substandard [Member] | Equipment Lease Financing [Member] | Criticized Commercial Loans [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 88,000,000 | 93,000,000 | |||
Doubtful [Member] | Criticized Commercial Loans [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Purchased impaired loans | 27,000,000 | 26,000,000 | |||
Total Loans | 105,000,000 | 118,000,000 | |||
Doubtful [Member] | Commercial [Member] | Criticized Commercial Loans [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 49,000,000 | 55,000,000 | |||
Doubtful [Member] | Commercial Real Estate [Member] | Criticized Commercial Loans [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 27,000,000 | 35,000,000 | |||
Doubtful [Member] | Equipment Lease Financing [Member] | Criticized Commercial Loans [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | $2,000,000 | $2,000,000 | |||
[1] | Amounts represent the assets or liabilities of consolidated variable interest entities (VIEs). | ||||
[2] | Amounts represent items for which we have elected the fair value option. |
Asset_Quality_Home_Equity_and_
Asset Quality (Home Equity and Residential Real Estate Balances) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | ||
Financing Receivable, Recorded Investment [Line Items] | |||||
Purchased Impaired Loans - Outstanding Balance | $4,741,000,000 | $5,007,000,000 | |||
Total loans | 204,722,000,000 | [1],[2] | 204,817,000,000 | [1],[2] | 198,242,000,000 |
Total home equity and residential real estate loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 43,049,000,000 | 43,348,000,000 | |||
Purchased Impaired Loans - Outstanding Balance | 4,343,000,000 | 4,541,000,000 | |||
Government insured or guaranteed residential real estate mortgages | 1,106,000,000 | 1,188,000,000 | |||
Purchase accounting adjustments - purchased impaired loans | 56,000,000 | 7,000,000 | |||
Total loans | $48,554,000,000 | $49,084,000,000 | |||
[1] | Amounts represent the assets or liabilities of consolidated variable interest entities (VIEs). | ||||
[2] | Amounts represent items for which we have elected the fair value option. |
Asset_Quality_Consumer_Real_Es
Asset Quality (Consumer Real Estate Secured Asset Quality Indicators) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | $4,741,000,000 | $5,007,000,000 | |
Purchased impaired loans | 4,675,000,000 | 4,858,000,000 | 5,824,000,000 |
Pennsylvania [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Percentage Of Higher Risk Loans | 12.00% | 12.00% | |
New Jersey [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Percentage Of Higher Risk Loans | 14.00% | 14.00% | |
Illinois [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Percentage Of Higher Risk Loans | 12.00% | 12.00% | |
Percentage Of Purchased Impaired Loans | 11.00% | 11.00% | |
Ohio [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Percentage Of Higher Risk Loans | 12.00% | 12.00% | |
Percentage Of Purchased Impaired Loans | 8.00% | 8.00% | |
California [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Percentage Of Purchased Impaired Loans | 17.00% | 17.00% | |
Florida [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Percentage Of Higher Risk Loans | 7.00% | 8.00% | |
Percentage Of Purchased Impaired Loans | 15.00% | 15.00% | |
Maryland [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Percentage Of Higher Risk Loans | 6.00% | 6.00% | |
Michigan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Percentage Of Higher Risk Loans | 5.00% | 5.00% | |
Percentage Of Purchased Impaired Loans | 5.00% | 5.00% | |
North Carolina [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Percentage Of Higher Risk Loans | 4.00% | ||
Percentage Of Purchased Impaired Loans | 7.00% | 7.00% | |
All Other States Maximum [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Percentage Of Higher Risk Loans | 4.00% | 4.00% | |
Percentage Of Purchased Impaired Loans | 4.00% | 4.00% | |
All Other States [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Percentage Of Higher Risk Loans | 32.00% | 28.00% | |
Percentage Of Purchased Impaired Loans | 37.00% | 37.00% | |
Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 17,570,000,000 | 17,569,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 281,000,000 | 282,000,000 | |
Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 14,572,000,000 | 15,119,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 1,780,000,000 | 1,863,000,000 | |
Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 10,907,000,000 | 10,660,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 2,282,000,000 | 2,396,000,000 | |
Government insured or guaranteed residential real estate mortgages | 1,106,000,000 | 1,188,000,000 | |
Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 43,049,000,000 | 43,348,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 4,343,000,000 | 4,541,000,000 | |
Government insured or guaranteed residential real estate mortgages | 1,106,000,000 | 1,188,000,000 | |
Purchased impaired loans | 4,343,000,000 | 4,541,000,000 | |
LTV greater than or equal to 125% and updated FICO scores | FICO greater than 660 | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 324,000,000 | 333,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 7,000,000 | 8,000,000 | |
LTV greater than or equal to 125% and updated FICO scores | FICO greater than 660 | Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 1,258,000,000 | 1,399,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 223,000,000 | 243,000,000 | |
LTV greater than or equal to 125% and updated FICO scores | FICO greater than 660 | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 345,000,000 | 360,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 244,000,000 | 276,000,000 | |
LTV greater than or equal to 125% and updated FICO scores | FICO greater than 660 | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 1,927,000,000 | 2,092,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 474,000,000 | 527,000,000 | |
LTV greater than or equal to 125% and updated FICO scores | FICO less than or equal to 660 | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 56,000,000 | 57,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 9,000,000 | 9,000,000 | |
LTV greater than or equal to 125% and updated FICO scores | FICO less than or equal to 660 | Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 251,000,000 | 273,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 117,000,000 | 125,000,000 | |
LTV greater than or equal to 125% and updated FICO scores | FICO less than or equal to 660 | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 98,000,000 | 92,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 138,000,000 | 144,000,000 | |
LTV greater than or equal to 125% and updated FICO scores | FICO less than or equal to 660 | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 405,000,000 | 422,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 264,000,000 | 278,000,000 | |
LTV greater than or equal to 125% and updated FICO scores | Missing FICO | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 1,000,000 | 1,000,000 | |
LTV greater than or equal to 125% and updated FICO scores | Missing FICO | Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 8,000,000 | 9,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 7,000,000 | 8,000,000 | |
LTV greater than or equal to 125% and updated FICO scores | Missing FICO | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 9,000,000 | 8,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 4,000,000 | 6,000,000 | |
LTV greater than or equal to 125% and updated FICO scores | Missing FICO | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 18,000,000 | 18,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 11,000,000 | 14,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores | FICO greater than 660 | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 840,000,000 | 839,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 14,000,000 | 15,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores | FICO greater than 660 | Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 2,084,000,000 | 2,190,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 407,000,000 | 426,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores | FICO greater than 660 | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 762,000,000 | 772,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 262,000,000 | 272,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores | FICO greater than 660 | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 3,686,000,000 | 3,801,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 683,000,000 | 713,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores | FICO less than or equal to 660 | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 123,000,000 | 118,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 13,000,000 | 12,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores | FICO less than or equal to 660 | Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 371,000,000 | 383,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 183,000,000 | 194,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores | FICO less than or equal to 660 | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 149,000,000 | 153,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 185,000,000 | 200,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores | FICO less than or equal to 660 | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 643,000,000 | 654,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 381,000,000 | 406,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores | Missing FICO | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 2,000,000 | 1,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores | Missing FICO | Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 5,000,000 | 5,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 10,000,000 | 11,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores | Missing FICO | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 9,000,000 | 12,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 5,000,000 | 5,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores | Missing FICO | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 16,000,000 | 18,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 15,000,000 | 16,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores | FICO greater than 660 | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 894,000,000 | 891,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 12,000,000 | 12,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores | FICO greater than 660 | Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 1,679,000,000 | 1,703,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 200,000,000 | 207,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores | FICO greater than 660 | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 742,000,000 | 755,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 167,000,000 | 186,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores | FICO greater than 660 | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 3,315,000,000 | 3,349,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 379,000,000 | 405,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores | FICO less than or equal to 660 | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 108,000,000 | 103,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 9,000,000 | 9,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores | FICO less than or equal to 660 | Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 261,000,000 | 271,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 95,000,000 | 93,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores | FICO less than or equal to 660 | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 103,000,000 | 118,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 119,000,000 | 123,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores | FICO less than or equal to 660 | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 472,000,000 | 492,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 223,000,000 | 225,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores | Missing FICO | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 1,000,000 | 2,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores | Missing FICO | Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 3,000,000 | 3,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 5,000,000 | 5,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores | Missing FICO | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 7,000,000 | 5,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 3,000,000 | 3,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores | Missing FICO | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 11,000,000 | 10,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 8,000,000 | 8,000,000 | |
LTV less than 90% and updated FICO scores | FICO greater than 660 | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 13,857,000,000 | 13,878,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 107,000,000 | 102,000,000 | |
LTV less than 90% and updated FICO scores | FICO greater than 660 | Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 7,661,000,000 | 7,874,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 330,000,000 | 339,000,000 | |
LTV less than 90% and updated FICO scores | FICO greater than 660 | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 7,983,000,000 | 7,703,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 621,000,000 | 626,000,000 | |
LTV less than 90% and updated FICO scores | FICO greater than 660 | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 29,501,000,000 | 29,455,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 1,058,000,000 | 1,067,000,000 | |
LTV less than 90% and updated FICO scores | FICO less than or equal to 660 | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 1,341,000,000 | 1,319,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 104,000,000 | 109,000,000 | |
LTV less than 90% and updated FICO scores | FICO less than or equal to 660 | Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 977,000,000 | 995,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 191,000,000 | 200,000,000 | |
LTV less than 90% and updated FICO scores | FICO less than or equal to 660 | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 593,000,000 | 573,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 505,000,000 | 515,000,000 | |
LTV less than 90% and updated FICO scores | FICO less than or equal to 660 | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 2,911,000,000 | 2,887,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 800,000,000 | 824,000,000 | |
LTV less than 90% and updated FICO scores | Missing FICO | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 23,000,000 | 27,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 1,000,000 | 1,000,000 | |
LTV less than 90% and updated FICO scores | Missing FICO | Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 14,000,000 | 14,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 12,000,000 | 12,000,000 | |
LTV less than 90% and updated FICO scores | Missing FICO | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 107,000,000 | 109,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 16,000,000 | 15,000,000 | |
LTV less than 90% and updated FICO scores | Missing FICO | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 144,000,000 | 150,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 29,000,000 | 28,000,000 | |
Missing LTV and updated FICO scores | FICO greater than 660 | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 1,000,000 | 1,000,000 | |
Missing LTV and updated FICO scores | FICO greater than 660 | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 12,000,000 | 14,000,000 | |
Missing LTV and updated FICO scores | FICO greater than 660 | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 13,000,000 | 15,000,000 | |
Missing LTV and updated FICO scores | FICO less than or equal to 660 | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 4,000,000 | 4,000,000 | |
Missing LTV and updated FICO scores | FICO less than or equal to 660 | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 1,000,000 | 10,000,000 | |
Missing LTV and updated FICO scores | FICO less than or equal to 660 | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 5,000,000 | 14,000,000 | |
Missing LTV and updated FICO scores | Missing FICO | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 1,000,000 | ||
Missing LTV and updated FICO scores | Missing FICO | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | $1,000,000 |
Asset_Quality_Credit_Card_and_
Asset Quality (Credit Card and Other Consumer Loan Classes Asset Quality Indicators) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | ||
In Millions, unless otherwise specified | |||||
Total Loans | $204,722 | [1],[2] | $204,817 | [1],[2] | $198,242 |
Credit Card [Member] | |||||
Total Loans | 4,434 | 4,612 | |||
Weighted-average updated FICO score | 731 | 732 | |||
Higher Risk Loans | 34 | 35 | |||
Other Consumer [Member] | |||||
Total Loans | 22,059 | 22,753 | |||
Weighted-average updated FICO score | 743 | 744 | |||
FICO score greater than 719 | Credit Card [Member] | |||||
Total Loans | 2,563 | 2,717 | |||
% of Total Loans Using FICO Credit Metric | 58.00% | 59.00% | |||
FICO score greater than 719 | Other Consumer [Member] | |||||
Total Loans | 9,069 | 9,156 | |||
% of Total Loans Using FICO Credit Metric | 64.00% | 64.00% | |||
FICO score of 650 to 719 [Member] | Credit Card [Member] | |||||
Total Loans | 1,261 | 1,288 | |||
% of Total Loans Using FICO Credit Metric | 28.00% | 28.00% | |||
FICO score of 650 to 719 [Member] | Other Consumer [Member] | |||||
Total Loans | 3,462 | 3,459 | |||
% of Total Loans Using FICO Credit Metric | 24.00% | 24.00% | |||
FICO score of 620 to 649 [Member] | Credit Card [Member] | |||||
Total Loans | 200 | 203 | |||
% of Total Loans Using FICO Credit Metric | 5.00% | 4.00% | |||
FICO score of 620 to 649 [Member] | Other Consumer [Member] | |||||
Total Loans | 547 | 528 | |||
% of Total Loans Using FICO Credit Metric | 4.00% | 4.00% | |||
FICO score of less Than 620 [Member] | Credit Card [Member] | |||||
Total Loans | 235 | 239 | |||
% of Total Loans Using FICO Credit Metric | 5.00% | 5.00% | |||
FICO score of less Than 620 [Member] | Other Consumer [Member] | |||||
Total Loans | 640 | 619 | |||
% of Total Loans Using FICO Credit Metric | 4.00% | 4.00% | |||
No FICO score available or required [Member] | Credit Card [Member] | |||||
Total Loans | 175 | 165 | |||
% of Total Loans Using FICO Credit Metric | 4.00% | 4.00% | |||
No FICO score available or required [Member] | Other Consumer [Member] | |||||
Total Loans | 563 | 557 | |||
% of Total Loans Using FICO Credit Metric | 4.00% | 4.00% | |||
Total Loans Using FICO Credit Metric [Member] | Credit Card [Member] | |||||
Total Loans | 4,434 | 4,612 | |||
% of Total Loans Using FICO Credit Metric | 100.00% | 100.00% | |||
Total Loans Using FICO Credit Metric [Member] | Other Consumer [Member] | |||||
Total Loans | 14,281 | 14,319 | |||
% of Total Loans Using FICO Credit Metric | 100.00% | 100.00% | |||
Consumer loans using other internal credit metrics [Member] | Other Consumer [Member] | |||||
Total Loans | $7,778 | $8,434 | |||
Pennsylvania [Member] | |||||
Percentage Of Higher Risk Credit Card Loans | 16.00% | 16.00% | |||
Ohio [Member] | |||||
Percentage Of Higher Risk Credit Card Loans | 17.00% | 17.00% | |||
Illinois [Member] | |||||
Percentage Of Higher Risk Credit Card Loans | 8.00% | 7.00% | |||
Michigan [Member] | |||||
Percentage Of Higher Risk Credit Card Loans | 9.00% | 9.00% | |||
Indiana [Member] | |||||
Percentage Of Higher Risk Credit Card Loans | 5.00% | 6.00% | |||
Florida [Member] | |||||
Percentage Of Higher Risk Credit Card Loans | 6.00% | 6.00% | |||
Kentucky [Member] | |||||
Percentage Of Higher Risk Credit Card Loans | 4.00% | ||||
New Jersey [Member] | |||||
Percentage Of Higher Risk Credit Card Loans | 7.00% | 7.00% | |||
North Carolina [Member] | |||||
Percentage Of Higher Risk Credit Card Loans | 4.00% | ||||
All Other States [Member] | |||||
Percentage Of Higher Risk Credit Card Loans | 4.00% | 4.00% | |||
[1] | Amounts represent the assets or liabilities of consolidated variable interest entities (VIEs). | ||||
[2] | Amounts represent items for which we have elected the fair value option. |
Asset_Quality_Summary_of_TDRs_
Asset Quality (Summary of TDRs) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Troubled debt restructurings (TDRs) | $2,530,000,000 | $2,583,000,000 |
Nonperforming [Member] | ||
Troubled debt restructurings (TDRs) | 1,317,000,000 | 1,370,000,000 |
Accruing [Member] | ||
Troubled debt restructurings (TDRs) | 1,089,000,000 | 1,083,000,000 |
Credit Card [Member] | ||
Troubled debt restructurings (TDRs) | 124,000,000 | 130,000,000 |
Total commercial lending [Member] | ||
Troubled debt restructurings (TDRs) | 510,000,000 | 542,000,000 |
Total consumer lending [Member] | ||
Troubled debt restructurings (TDRs) | $2,020,000,000 | $2,041,000,000 |
Asset_Quality_Financial_Impact
Asset Quality (Financial Impact and TDRs by Concession Type) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
loans | loans | |
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | 2,776 | 3,244 |
Pre-TDR Recorded Investment | $134 | $172 |
Post-TDR Recorded Investment | 120 | 152 |
Principal Forgiveness [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | 1 | 19 |
Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | 44 | 42 |
Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | 75 | 91 |
Total commercial lending [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | 38 | 57 |
Pre-TDR Recorded Investment | 63 | 82 |
Post-TDR Recorded Investment | 53 | 68 |
Total commercial lending [Member] | Principal Forgiveness [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | 1 | 19 |
Total commercial lending [Member] | Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | 2 | |
Total commercial lending [Member] | Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | 50 | 49 |
Total consumer lending [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | 2,738 | 3,187 |
Pre-TDR Recorded Investment | 71 | 90 |
Post-TDR Recorded Investment | 67 | 84 |
Total consumer lending [Member] | Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | 42 | 42 |
Total consumer lending [Member] | Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | 25 | 42 |
Commercial [Member] | Total commercial lending [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | 30 | 34 |
Pre-TDR Recorded Investment | 53 | 41 |
Post-TDR Recorded Investment | 51 | 38 |
Commercial [Member] | Total commercial lending [Member] | Principal Forgiveness [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | 1 | |
Commercial [Member] | Total commercial lending [Member] | Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | 1 | |
Commercial [Member] | Total commercial lending [Member] | Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | 49 | 38 |
Commercial Real Estate [Member] | Total commercial lending [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | 8 | 23 |
Pre-TDR Recorded Investment | 10 | 41 |
Post-TDR Recorded Investment | 2 | 30 |
Commercial Real Estate [Member] | Total commercial lending [Member] | Principal Forgiveness [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | 19 | |
Commercial Real Estate [Member] | Total commercial lending [Member] | Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | 1 | |
Commercial Real Estate [Member] | Total commercial lending [Member] | Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | 1 | 11 |
Home Equity [Member] | Total consumer lending [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | 712 | 831 |
Pre-TDR Recorded Investment | 45 | 52 |
Post-TDR Recorded Investment | 42 | 47 |
Home Equity [Member] | Total consumer lending [Member] | Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | 23 | 20 |
Home Equity [Member] | Total consumer lending [Member] | Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | 19 | 27 |
Residential Real Estate [Member] | Total consumer lending [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | 70 | 119 |
Pre-TDR Recorded Investment | 8 | 18 |
Post-TDR Recorded Investment | 9 | 18 |
Residential Real Estate [Member] | Total consumer lending [Member] | Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | 5 | 6 |
Residential Real Estate [Member] | Total consumer lending [Member] | Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | 4 | 12 |
Credit Card [Member] | Total consumer lending [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | 1,684 | 1,972 |
Pre-TDR Recorded Investment | 14 | 16 |
Post-TDR Recorded Investment | 13 | 16 |
Credit Card [Member] | Total consumer lending [Member] | Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | 13 | 16 |
Other Consumer [Member] | Total consumer lending [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | 272 | 265 |
Pre-TDR Recorded Investment | 4 | 4 |
Post-TDR Recorded Investment | 3 | 3 |
Other Consumer [Member] | Total consumer lending [Member] | Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | 1 | |
Other Consumer [Member] | Total consumer lending [Member] | Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | $2 | $3 |
Asset_Quality_TDRs_that_were_M
Asset Quality (TDRs that were Modified in the Past Twelve Months which have Subsequently Defaulted) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
contracts | contracts | |
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts - Subsequently defaulted TDRs | 1,034 | 1,360 |
Recorded Investment - Subsequently defaulted TDRs | $23 | $36 |
Total commercial lending [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts - Subsequently defaulted TDRs | 12 | 17 |
Recorded Investment - Subsequently defaulted TDRs | 9 | 16 |
Total consumer lending [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts - Subsequently defaulted TDRs | 1,022 | 1,343 |
Recorded Investment - Subsequently defaulted TDRs | 14 | 20 |
Quantifying Misstatement In Current Year Financial Statements | -44 | |
Quantifying Misstatement in Current Year Financial Statements - Number of Contracts | -533 | |
Commercial [Member] | Total commercial lending [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts - Subsequently defaulted TDRs | 5 | 10 |
Recorded Investment - Subsequently defaulted TDRs | 1 | 6 |
Commercial Real Estate [Member] | Total commercial lending [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts - Subsequently defaulted TDRs | 7 | 7 |
Recorded Investment - Subsequently defaulted TDRs | 8 | 10 |
Home Equity [Member] | Total consumer lending [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts - Subsequently defaulted TDRs | 66 | 116 |
Recorded Investment - Subsequently defaulted TDRs | 4 | 7 |
Residential Real Estate [Member] | Total consumer lending [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts - Subsequently defaulted TDRs | 11 | 25 |
Recorded Investment - Subsequently defaulted TDRs | 2 | 3 |
Credit Card [Member] | Total consumer lending [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts - Subsequently defaulted TDRs | 908 | 1,157 |
Recorded Investment - Subsequently defaulted TDRs | 7 | 9 |
Other Consumer [Member] | Total consumer lending [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts - Subsequently defaulted TDRs | 37 | 45 |
Recorded Investment - Subsequently defaulted TDRs | $1 | $1 |
Asset_Quality_Impaired_Loans_D
Asset Quality (Impaired Loans) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | |
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance - Impaired loans with an associated allowance | $2,493,000,000 | $2,462,000,000 | |
Unpaid principal balance - Impaired loans without an associated allowance | 1,083,000,000 | 1,102,000,000 | |
Unpaid principal balance - Total impaired loans | 3,576,000,000 | 3,564,000,000 | |
Recorded investment - Impaired loans with an associated allowance | 2,088,000,000 | 2,161,000,000 | |
Recorded investment - Impaired loans without an associated allowance | 720,000,000 | 731,000,000 | |
Recorded investment - Total impaired loans | 2,808,000,000 | 2,892,000,000 | |
Associated Allowance - Total impaired loans | 412,000,000 | 463,000,000 | |
Average recorded investment - Impaired loans with an associated allowance | 2,124,000,000 | 2,249,000,000 | |
Average recorded investment - Impaired loans without an associated allowance | 725,000,000 | 908,000,000 | |
Average recorded investment - Total impaired loans | 2,849,000,000 | 3,157,000,000 | |
Specific ALLL reserve for TDRs | 342,000,000 | 386,000,000 | 464,000,000 |
Commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance - Impaired loans with an associated allowance | 395,000,000 | 432,000,000 | |
Unpaid principal balance - Impaired loans without an associated allowance | 111,000,000 | 106,000,000 | |
Recorded investment - Impaired loans with an associated allowance | 291,000,000 | 318,000,000 | |
Recorded investment - Impaired loans without an associated allowance | 96,000,000 | 84,000,000 | |
Associated Allowance - Total impaired loans | 62,000,000 | 74,000,000 | |
Average recorded investment - Impaired loans with an associated allowance | 304,000,000 | 360,000,000 | |
Average recorded investment - Impaired loans without an associated allowance | 90,000,000 | 133,000,000 | |
Commercial Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance - Impaired loans with an associated allowance | 382,000,000 | 418,000,000 | |
Unpaid principal balance - Impaired loans without an associated allowance | 227,000,000 | 249,000,000 | |
Recorded investment - Impaired loans with an associated allowance | 232,000,000 | 262,000,000 | |
Recorded investment - Impaired loans without an associated allowance | 169,000,000 | 187,000,000 | |
Associated Allowance - Total impaired loans | 55,000,000 | 65,000,000 | |
Average recorded investment - Impaired loans with an associated allowance | 247,000,000 | 283,000,000 | |
Average recorded investment - Impaired loans without an associated allowance | 178,000,000 | 276,000,000 | |
Home Equity [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance - Impaired loans with an associated allowance | 999,000,000 | 1,021,000,000 | |
Unpaid principal balance - Impaired loans without an associated allowance | 419,000,000 | 403,000,000 | |
Recorded investment - Impaired loans with an associated allowance | 985,000,000 | 984,000,000 | |
Recorded investment - Impaired loans without an associated allowance | 141,000,000 | 145,000,000 | |
Associated Allowance - Total impaired loans | 193,000,000 | 215,000,000 | |
Average recorded investment - Impaired loans with an associated allowance | 984,000,000 | 986,000,000 | |
Average recorded investment - Impaired loans without an associated allowance | 143,000,000 | 134,000,000 | |
Residential Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance - Impaired loans with an associated allowance | 531,000,000 | 397,000,000 | |
Unpaid principal balance - Impaired loans without an associated allowance | 326,000,000 | 344,000,000 | |
Recorded investment - Impaired loans with an associated allowance | 412,000,000 | 420,000,000 | |
Recorded investment - Impaired loans without an associated allowance | 314,000,000 | 315,000,000 | |
Associated Allowance - Total impaired loans | 73,000,000 | 75,000,000 | |
Average recorded investment - Impaired loans with an associated allowance | 417,000,000 | 422,000,000 | |
Average recorded investment - Impaired loans without an associated allowance | 314,000,000 | 365,000,000 | |
Credit Card [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance - Impaired loans with an associated allowance | 124,000,000 | 130,000,000 | |
Recorded investment - Impaired loans with an associated allowance | 124,000,000 | 130,000,000 | |
Associated Allowance - Total impaired loans | 28,000,000 | 32,000,000 | |
Average recorded investment - Impaired loans with an associated allowance | 127,000,000 | 147,000,000 | |
Other Consumer [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance - Impaired loans with an associated allowance | 62,000,000 | 64,000,000 | |
Recorded investment - Impaired loans with an associated allowance | 44,000,000 | 47,000,000 | |
Associated Allowance - Total impaired loans | 1,000,000 | 2,000,000 | |
Average recorded investment - Impaired loans with an associated allowance | $45,000,000 | $51,000,000 |
Purchased_Loans_Narrative_Deta
Purchased Loans (Narrative) (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
Financing Receivable, Impaired [Line Items] | |||
Provision for credit losses (benefit) | $54,000,000 | $94,000,000 | |
Charge-offs | 189,000,000 | 300,000,000 | |
Specific allowance for loan and lease losses associated with purchased impaired loans | 412,000,000 | 463,000,000 | |
Purchased impaired loans | 4,675,000,000 | 5,824,000,000 | 4,858,000,000 |
Purchased Impaired Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Provision for credit losses (benefit) | -12,000,000 | -43,000,000 | |
Charge-offs | -1,000,000 | 14,000,000 | |
Net carrying value of the net accumulation of realized gains and losses on pooled loan recorded investments | 0 | ||
Impaired Loans With Associated Allowance [Member] | Purchased Impaired Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Specific allowance for loan and lease losses associated with purchased impaired loans | 900,000,000 | 900,000,000 | |
Purchased impaired loans | 4,300,000,000 | ||
Impaired Loans Without Associated Allowance [Member] | Purchased Impaired Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Specific allowance for loan and lease losses associated with purchased impaired loans | $400,000,000 |
Purchased_Loans_Purchase_Loan_
Purchased Loans (Purchase Loan Balances) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
Financing Receivable, Impaired [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | $4,741,000,000 | $5,007,000,000 | |
Purchased Impaired Loans - Recorded Investment | 4,675,000,000 | 4,858,000,000 | 5,824,000,000 |
Purchased Impaired Loans - Carrying Value | 3,814,000,000 | 3,986,000,000 | |
Total commercial lending [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 398,000,000 | 466,000,000 | |
Purchased Impaired Loans - Recorded Investment | 276,000,000 | 310,000,000 | 569,000,000 |
Purchased Impaired Loans - Carrying Value | 196,000,000 | 231,000,000 | |
Total commercial lending [Member] | Commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 142,000,000 | 159,000,000 | |
Purchased Impaired Loans - Recorded Investment | 60,000,000 | 74,000,000 | |
Purchased Impaired Loans - Carrying Value | 44,000,000 | 57,000,000 | |
Total commercial lending [Member] | Commercial Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 256,000,000 | 307,000,000 | |
Purchased Impaired Loans - Recorded Investment | 216,000,000 | 236,000,000 | |
Purchased Impaired Loans - Carrying Value | 152,000,000 | 174,000,000 | |
Total consumer lending [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 4,343,000,000 | 4,541,000,000 | |
Purchased Impaired Loans - Recorded Investment | 4,399,000,000 | 4,548,000,000 | 5,255,000,000 |
Purchased Impaired Loans - Carrying Value | 3,618,000,000 | 3,755,000,000 | |
Total consumer lending [Member] | Consumer [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 2,056,000,000 | 2,145,000,000 | |
Purchased Impaired Loans - Recorded Investment | 1,918,000,000 | 1,989,000,000 | |
Purchased Impaired Loans - Carrying Value | 1,595,000,000 | 1,661,000,000 | |
Total consumer lending [Member] | Residential Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 2,287,000,000 | 2,396,000,000 | |
Purchased Impaired Loans - Recorded Investment | 2,481,000,000 | 2,559,000,000 | |
Purchased Impaired Loans - Carrying Value | $2,023,000,000 | $2,094,000,000 |
Purchased_Loans_Accretable_Yie
Purchased Loans (Accretable Yield) (Details) (Purchased Impaired Loans [Member], USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Financing Receivable, Impaired [Line Items] | ||
Beginning Balance | $1,558,000,000 | $2,055,000,000 |
Accretion (including excess cash recoveries) | -132,000,000 | -154,000,000 |
Net reclassifications to accretable from non-accretable | 64,000,000 | 95,000,000 |
Disposals | -6,000,000 | -8,000,000 |
Ending Balance | $1,484,000,000 | $1,988,000,000 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Net reclassifications from nonaccretable - percentage | 90.00% | 95.00% |
Allowances_for_Loan_and_Lease_2
Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters of Credit (Rollforward of Allowance For Loan and Lease Losses and Associated Loan Data) (Details) (USD $) | 3 Months Ended | |||||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Beginning Balance | $3,331,000,000 | [1] | $3,609,000,000 | |||
Charge-offs | -189,000,000 | -300,000,000 | ||||
Recoveries | 86,000,000 | 114,000,000 | ||||
Net charge-offs | -103,000,000 | -186,000,000 | ||||
Provision For Credit Losses | 54,000,000 | 94,000,000 | ||||
Net change in allowance for unfunded loan commitments and letters of credit | 25,000,000 | 14,000,000 | ||||
Other | -1,000,000 | -1,000,000 | ||||
Ending Balance | 3,306,000,000 | [1] | 3,530,000,000 | [1] | ||
TDRs individually evaluated for impairment - associated allowance | 342,000,000 | 464,000,000 | 386,000,000 | |||
Other loans individually evaluated for impairment - associated allowance | 70,000,000 | 133,000,000 | ||||
Loans collectively evaluated for impairment - associated allowance | 2,033,000,000 | 1,985,000,000 | ||||
Purchased impaired loans - associated allowance | 861,000,000 | 948,000,000 | ||||
TDRs individually evaluated for impairment | 2,530,000,000 | 2,710,000,000 | ||||
Other loans individually evaluated for impairment | 278,000,000 | 588,000,000 | ||||
Loans collectively evaluated for impairment | 196,238,000,000 | 187,977,000,000 | ||||
Fair value option loans | 1,001,000,000 | 1,143,000,000 | ||||
Purchased impaired loans | 4,675,000,000 | 5,824,000,000 | 4,858,000,000 | |||
Total loans | 204,722,000,000 | [1],[2] | 198,242,000,000 | 204,817,000,000 | [1],[2] | |
Portfolio segment ALLL as a percentage of total ALLL | 100.00% | 100.00% | ||||
Ratio of the allowance for loan and lease losses to total loans | 1.61% | 1.78% | ||||
Evaluated for impairment based upon collateral values | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Loans collectively evaluated for impairment | 183,000,000 | 246,000,000 | ||||
Total commercial lending [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Beginning Balance | 1,571,000,000 | 1,547,000,000 | ||||
Charge-offs | -46,000,000 | -105,000,000 | ||||
Recoveries | 45,000,000 | 74,000,000 | ||||
Net charge-offs | -1,000,000 | -31,000,000 | ||||
Provision For Credit Losses | -2,000,000 | 18,000,000 | ||||
Net change in allowance for unfunded loan commitments and letters of credit | 25,000,000 | 16,000,000 | ||||
Other | -1,000,000 | -1,000,000 | ||||
Ending Balance | 1,592,000,000 | 1,549,000,000 | ||||
TDRs individually evaluated for impairment - associated allowance | 47,000,000 | 33,000,000 | ||||
Other loans individually evaluated for impairment - associated allowance | 70,000,000 | 133,000,000 | ||||
Loans collectively evaluated for impairment - associated allowance | 1,395,000,000 | 1,260,000,000 | ||||
Purchased impaired loans - associated allowance | 80,000,000 | 123,000,000 | ||||
TDRs individually evaluated for impairment | 510,000,000 | 576,000,000 | ||||
Other loans individually evaluated for impairment | 278,000,000 | 588,000,000 | ||||
Loans collectively evaluated for impairment | 128,611,000,000 | 119,040,000,000 | ||||
Purchased impaired loans | 276,000,000 | 569,000,000 | 310,000,000 | |||
Total loans | 129,675,000,000 | 120,773,000,000 | 128,368,000,000 | |||
Portfolio segment ALLL as a percentage of total ALLL | 48.00% | 44.00% | ||||
Ratio of the allowance for loan and lease losses to total loans | 1.23% | 1.28% | ||||
Total consumer lending [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Beginning Balance | 1,760,000,000 | 2,062,000,000 | ||||
Charge-offs | -143,000,000 | -195,000,000 | ||||
Recoveries | 41,000,000 | 40,000,000 | ||||
Net charge-offs | -102,000,000 | -155,000,000 | ||||
Provision For Credit Losses | 56,000,000 | 76,000,000 | ||||
Net change in allowance for unfunded loan commitments and letters of credit | -2,000,000 | |||||
Ending Balance | 1,714,000,000 | 1,981,000,000 | ||||
TDRs individually evaluated for impairment - associated allowance | 295,000,000 | 431,000,000 | ||||
Loans collectively evaluated for impairment - associated allowance | 638,000,000 | 725,000,000 | ||||
Purchased impaired loans - associated allowance | 781,000,000 | 825,000,000 | ||||
TDRs individually evaluated for impairment | 2,020,000,000 | 2,134,000,000 | ||||
Loans collectively evaluated for impairment | 67,627,000,000 | 68,937,000,000 | ||||
Fair value option loans | 1,001,000,000 | 1,143,000,000 | ||||
Purchased impaired loans | 4,399,000,000 | 5,255,000,000 | 4,548,000,000 | |||
Total loans | 75,047,000,000 | 77,469,000,000 | 76,449,000,000 | |||
Portfolio segment ALLL as a percentage of total ALLL | 52.00% | 56.00% | ||||
Ratio of the allowance for loan and lease losses to total loans | 2.28% | 2.56% | ||||
Total consumer lending [Member] | Quantifying Misstatement In Financial Statments - End of Period Impact | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Loans collectively evaluated for impairment | -93,000,000 | |||||
Fair value option loans | $93,000,000 | |||||
[1] | Amounts represent the assets or liabilities of consolidated variable interest entities (VIEs). | |||||
[2] | Amounts represent items for which we have elected the fair value option. |
Allowances_for_Loan_and_Lease_3
Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters Of Credit (Rollforward of Allowance for Unfunded Loan Commitments and Letters of Credit) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Allowance For Loan And Lease Losses [Abstract] | ||
Beginning balance | $259 | $242 |
Net change in allowance for unfunded loan commitments and letters of credit | -25 | -14 |
Ending balance | $234 | $228 |
Investment_Securities_Narrativ
Investment Securities (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Dec. 31, 2014 | |
Investment Securities Disclosure [Abstract] | ||
Gain on derivatives used to hedge purchase of investment securities | $91,000,000 | |
Gross unrealized loss on debt securities held to maturity | 15,000,000 | 22,000,000 |
Gross unrealized loss on debt securities held to maturity in a continuous loss position for less than 12 months - fair value | 494,000,000 | 134,000,000 |
Gross unrealized loss on debt securities held to maturity in a continuous loss position greater than 12 months - fair value | $1,000,000,000 | $1,600,000,000 |
Weighted Average Maturity | 4 years 1 month | 4 years 4 months |
Investment_Securities_Summary_
Investment Securities (Summary) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | $46,445,000,000 | $43,181,000,000 |
Securities available for sale debt securities, unrealized gains | 1,302,000,000 | 1,262,000,000 |
Securities available for sale debt securities, unrealized losses | -168,000,000 | -208,000,000 |
Securities available for sale, fair value | 47,579,000,000 | 44,235,000,000 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 46,081,000,000 | 42,739,000,000 |
Securities available for sale debt securities, unrealized gains | 1,302,000,000 | 1,262,000,000 |
Securities available for sale debt securities, unrealized losses | -167,000,000 | -207,000,000 |
Securities available for sale, fair value | 47,216,000,000 | 43,794,000,000 |
Held to Maturity Securities, Amortized Cost, Total | 13,189,000,000 | 11,588,000,000 |
Held-to-maturity securities, unrealized gains | 464,000,000 | 414,000,000 |
Held-to-maturity securities, unrealized losses | -13,000,000 | -18,000,000 |
Held-to-maturity securities, fair value | 13,640,000,000 | 11,984,000,000 |
AFS to HTM Transfer Net Unrealized Gains In AOCI | 118,000,000 | 125,000,000 |
US Treasury and Government Agencies Securities [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 5,293,000,000 | 5,237,000,000 |
Securities available for sale debt securities, unrealized gains | 203,000,000 | 186,000,000 |
Securities available for sale debt securities, unrealized losses | -1,000,000 | |
Securities available for sale, fair value | 5,496,000,000 | 5,422,000,000 |
Held to Maturity Securities, Amortized Cost, Total | 251,000,000 | 248,000,000 |
Held-to-maturity securities, unrealized gains | 52,000,000 | 44,000,000 |
Held-to-maturity securities, fair value | 303,000,000 | 292,000,000 |
Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Agency [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 20,844,000,000 | 17,646,000,000 |
Securities available for sale debt securities, unrealized gains | 451,000,000 | 438,000,000 |
Securities available for sale debt securities, unrealized losses | -27,000,000 | -41,000,000 |
Securities available for sale, fair value | 21,268,000,000 | 18,043,000,000 |
Held to Maturity Securities, Amortized Cost, Total | 7,558,000,000 | 5,736,000,000 |
Held-to-maturity securities, unrealized gains | 188,000,000 | 166,000,000 |
Held-to-maturity securities, unrealized losses | -6,000,000 | -10,000,000 |
Held-to-maturity securities, fair value | 7,740,000,000 | 5,892,000,000 |
Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 4,557,000,000 | 4,723,000,000 |
Securities available for sale debt securities, unrealized gains | 305,000,000 | 318,000,000 |
Securities available for sale debt securities, unrealized losses | -98,000,000 | -99,000,000 |
Securities available for sale, fair value | 4,764,000,000 | 4,942,000,000 |
Held to Maturity Securities, Amortized Cost, Total | 262,000,000 | 270,000,000 |
Held-to-maturity securities, unrealized gains | 15,000,000 | 13,000,000 |
Held-to-maturity securities, fair value | 277,000,000 | 283,000,000 |
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities Agency [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 2,118,000,000 | 2,178,000,000 |
Securities available for sale debt securities, unrealized gains | 30,000,000 | 23,000,000 |
Securities available for sale debt securities, unrealized losses | -5,000,000 | -14,000,000 |
Securities available for sale, fair value | 2,143,000,000 | 2,187,000,000 |
Held to Maturity Securities, Amortized Cost, Total | 1,148,000,000 | 1,200,000,000 |
Held-to-maturity securities, unrealized gains | 58,000,000 | 53,000,000 |
Held-to-maturity securities, fair value | 1,206,000,000 | 1,253,000,000 |
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 4,292,000,000 | 4,085,000,000 |
Securities available for sale debt securities, unrealized gains | 91,000,000 | 88,000,000 |
Securities available for sale debt securities, unrealized losses | -5,000,000 | -11,000,000 |
Securities available for sale, fair value | 4,378,000,000 | 4,162,000,000 |
Held to Maturity Securities, Amortized Cost, Total | 891,000,000 | 1,010,000,000 |
Held-to-maturity securities, unrealized gains | 25,000,000 | 19,000,000 |
Held-to-maturity securities, fair value | 916,000,000 | 1,029,000,000 |
Asset Backed Securities [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 5,157,000,000 | 5,141,000,000 |
Securities available for sale debt securities, unrealized gains | 84,000,000 | 78,000,000 |
Securities available for sale debt securities, unrealized losses | -26,000,000 | -32,000,000 |
Securities available for sale, fair value | 5,215,000,000 | 5,187,000,000 |
Held to Maturity Securities, Amortized Cost, Total | 747,000,000 | 759,000,000 |
Held-to-maturity securities, unrealized gains | 2,000,000 | 2,000,000 |
Held-to-maturity securities, unrealized losses | -7,000,000 | -8,000,000 |
Held-to-maturity securities, fair value | 742,000,000 | 753,000,000 |
State and Municipal [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 2,003,000,000 | 1,953,000,000 |
Securities available for sale debt securities, unrealized gains | 86,000,000 | 88,000,000 |
Securities available for sale debt securities, unrealized losses | -3,000,000 | -3,000,000 |
Securities available for sale, fair value | 2,086,000,000 | 2,038,000,000 |
Held to Maturity Securities, Amortized Cost, Total | 2,014,000,000 | 2,042,000,000 |
Held-to-maturity securities, unrealized gains | 117,000,000 | 111,000,000 |
Held-to-maturity securities, fair value | 2,131,000,000 | 2,153,000,000 |
Other Debt Securities [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 1,817,000,000 | 1,776,000,000 |
Securities available for sale debt securities, unrealized gains | 52,000,000 | 43,000,000 |
Securities available for sale debt securities, unrealized losses | -3,000,000 | -6,000,000 |
Securities available for sale, fair value | 1,866,000,000 | 1,813,000,000 |
Held to Maturity Securities, Amortized Cost, Total | 318,000,000 | 323,000,000 |
Held-to-maturity securities, unrealized gains | 7,000,000 | 6,000,000 |
Held-to-maturity securities, fair value | 325,000,000 | 329,000,000 |
Corporate Stocks And Other [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale equity securities, fair value | 363,000,000 | 441,000,000 |
Securities available for sale equity securities, unrealized losses | -1,000,000 | -1,000,000 |
Securities available for sale equity securities, amortized cost | $364,000,000 | $442,000,000 |
Investment_Securities_Gross_Un
Investment Securities (Gross Unrealized Loss and Fair Value of Securities Available for Sale) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | ($24,000,000) | ($22,000,000) |
Unrealized loss position less than 12 months - fair value | 5,438,000,000 | 5,223,000,000 |
Unrealized loss position 12 months or more - unrealized loss | -144,000,000 | -186,000,000 |
Unrealized loss position 12 months or more - fair value | 4,228,000,000 | 5,518,000,000 |
Total unrealized loss | -168,000,000 | -208,000,000 |
Total fair value | 9,666,000,000 | 10,741,000,000 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | -24,000,000 | -22,000,000 |
Unrealized loss position less than 12 months - fair value | 5,438,000,000 | 5,223,000,000 |
Unrealized loss position 12 months or more - unrealized loss | -143,000,000 | -185,000,000 |
Unrealized loss position 12 months or more - fair value | 4,213,000,000 | 5,503,000,000 |
Total unrealized loss | -167,000,000 | -207,000,000 |
Total fair value | 9,651,000,000 | 10,726,000,000 |
US Treasury and Government Agencies Securities [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | -500,000 | -1,000,000 |
Unrealized loss position less than 12 months - fair value | 365,000,000 | 1,426,000,000 |
Total unrealized loss | -500,000 | -1,000,000 |
Total fair value | 365,000,000 | 1,426,000,000 |
Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Agency [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | -9,000,000 | -4,000,000 |
Unrealized loss position less than 12 months - fair value | 2,484,000,000 | 644,000,000 |
Unrealized loss position 12 months or more - unrealized loss | -18,000,000 | -37,000,000 |
Unrealized loss position 12 months or more - fair value | 1,421,000,000 | 1,963,000,000 |
Total unrealized loss | -27,000,000 | -41,000,000 |
Total fair value | 3,905,000,000 | 2,607,000,000 |
Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | -6,000,000 | -5,000,000 |
Unrealized loss position less than 12 months - fair value | 469,000,000 | 276,000,000 |
Unrealized loss position 12 months or more - unrealized loss | -92,000,000 | -94,000,000 |
Unrealized loss position 12 months or more - fair value | 1,404,000,000 | 1,487,000,000 |
Total unrealized loss | -98,000,000 | -99,000,000 |
Total fair value | 1,873,000,000 | 1,763,000,000 |
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities Agency [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | -1,000,000 | -2,000,000 |
Unrealized loss position less than 12 months - fair value | 259,000,000 | 681,000,000 |
Unrealized loss position 12 months or more - unrealized loss | -4,000,000 | -12,000,000 |
Unrealized loss position 12 months or more - fair value | 140,000,000 | 322,000,000 |
Total unrealized loss | -5,000,000 | -14,000,000 |
Total fair value | 399,000,000 | 1,003,000,000 |
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | -4,000,000 | -4,000,000 |
Unrealized loss position less than 12 months - fair value | 889,000,000 | 928,000,000 |
Unrealized loss position 12 months or more - unrealized loss | -1,000,000 | -7,000,000 |
Unrealized loss position 12 months or more - fair value | 299,000,000 | 335,000,000 |
Total unrealized loss | -5,000,000 | -11,000,000 |
Total fair value | 1,188,000,000 | 1,263,000,000 |
Asset backed [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | -2,000,000 | -4,000,000 |
Unrealized loss position less than 12 months - fair value | 758,000,000 | 913,000,000 |
Unrealized loss position 12 months or more - unrealized loss | -24,000,000 | -28,000,000 |
Unrealized loss position 12 months or more - fair value | 749,000,000 | 1,133,000,000 |
Total unrealized loss | -26,000,000 | -32,000,000 |
Total fair value | 1,507,000,000 | 2,046,000,000 |
State and Municipal [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | -1,000,000 | -500,000 |
Unrealized loss position less than 12 months - fair value | 103,000,000 | 41,000,000 |
Unrealized loss position 12 months or more - unrealized loss | -2,000,000 | -3,000,000 |
Unrealized loss position 12 months or more - fair value | 65,000,000 | 77,000,000 |
Total unrealized loss | -3,000,000 | -3,000,000 |
Total fair value | 168,000,000 | 118,000,000 |
Other Debt Securities [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | -1,000,000 | -2,000,000 |
Unrealized loss position less than 12 months - fair value | 111,000,000 | 314,000,000 |
Unrealized loss position 12 months or more - unrealized loss | -2,000,000 | -4,000,000 |
Unrealized loss position 12 months or more - fair value | 135,000,000 | 186,000,000 |
Total unrealized loss | -3,000,000 | -6,000,000 |
Total fair value | 246,000,000 | 500,000,000 |
Corporate Stocks And Other [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position 12 months or more - unrealized loss | -1,000,000 | -1,000,000 |
Unrealized loss position 12 months or more - fair value | 15,000,000 | 15,000,000 |
Total unrealized loss | -1,000,000 | -1,000,000 |
Total fair value | $15,000,000 | $15,000,000 |
Investment_Securities_Rollforw
Investment Securities (Rollforward of Cumulative OTTI Credit Losses Recognized in Earnings) (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Investment Securities Disclosure [Abstract] | ||
Beginning balance | ($1,164,000,000) | ($1,160,000,000) |
Additional loss where credit impairment was previously recognized | -1,000,000 | -2,000,000 |
Reduction due to credit impaired securities sold or matured | 5,000,000 | |
Ending balance | ($1,165,000,000) | ($1,157,000,000) |
Investment_Securities_Gains_Lo
Investment Securities (Gains (Losses) on Sales of Securities Available for Sale) (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Investment Securities Disclosure [Abstract] | ||
Proceeds | $1,804,000,000 | $1,361,000,000 |
Gross Gains | 43,000,000 | 16,000,000 |
Gross Losses | -1,000,000 | -6,000,000 |
Net Gains | 42,000,000 | 10,000,000 |
Tax Expense | $15,000,000 | $4,000,000 |
Investment_Securities_Contract
Investment Securities (Contractual Maturity of Debt Securities) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | $46,445,000,000 | $43,181,000,000 |
Available-for-sale Securities, Fair value, Total | 47,579,000,000 | 44,235,000,000 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale Securities, Amortized Cost, 1 year or less | 259,000,000 | |
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 3,967,000,000 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 7,146,000,000 | |
Available for Sale Securities, Amortized Cost, After 10 years | 34,709,000,000 | |
Securities available for sale, amortized cost | 46,081,000,000 | 42,739,000,000 |
Available-for-sale Securities, Fair value, 1 year or less | 262,000,000 | |
Available-for-sale Securities, Fair value, After 1 year through 5 years | 4,066,000,000 | |
Available-for-sale Securities, Fair value, After 5 years through 10 years | 7,267,000,000 | |
Available-for-sale Securities, Fair value, After 10 years | 35,621,000,000 | |
Available-for-sale Securities, Fair value, Total | 47,216,000,000 | 43,794,000,000 |
Weighted-average yield, GAAP basis, available for sale securities | 2.85% | |
Held to Maturity Securities, Amortized Cost, After 1 year through 5 years | 996,000,000 | |
Held to Maturity Securities, Amortized Cost, After 5 years through 10 years | 1,909,000,000 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 10,284,000,000 | |
Held to Maturity Securities, Amortized Cost, Total | 13,189,000,000 | 11,588,000,000 |
Held-to-maturity Securities, Fair Value, After 1 year through 5 years | 1,039,000,000 | |
Held-to-maturity Securities, Fair Value, After 5 years through 10 years | 1,984,000,000 | |
Held-to-maturity Securities, Fair Value, After 10 years | 10,617,000,000 | |
Held-to-maturity Securities, Debt Maturities, Fair Value, Total | 13,640,000,000 | 11,984,000,000 |
Weighted-average yield, GAAP basis, held to maturity securities | 3.51% | |
One Year or Less [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Weighted-average yield, GAAP basis, available for sale securities | 3.17% | |
After One Year Through Five Years [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Weighted-average yield, GAAP basis, available for sale securities | 2.55% | |
Weighted-average yield, GAAP basis, held to maturity securities | 3.47% | |
After Five Years Through Ten Years [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Weighted-average yield, GAAP basis, available for sale securities | 2.35% | |
Weighted-average yield, GAAP basis, held to maturity securities | 3.20% | |
After Ten Years [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Weighted-average yield, GAAP basis, available for sale securities | 2.98% | |
Weighted-average yield, GAAP basis, held to maturity securities | 3.57% | |
US Treasury and Government Agencies Securities [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale Securities, Amortized Cost, 1 year or less | 2,000,000 | |
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 1,315,000,000 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 3,480,000,000 | |
Available for Sale Securities, Amortized Cost, After 10 years | 496,000,000 | |
Securities available for sale, amortized cost | 5,293,000,000 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 251,000,000 | |
Held to Maturity Securities, Amortized Cost, Total | 251,000,000 | |
Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Agency [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 113,000,000 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 794,000,000 | |
Available for Sale Securities, Amortized Cost, After 10 years | 19,937,000,000 | |
Securities available for sale, amortized cost | 20,844,000,000 | |
Held to Maturity Securities, Amortized Cost, After 5 years through 10 years | 196,000,000 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 7,362,000,000 | |
Held to Maturity Securities, Amortized Cost, Total | 7,558,000,000 | |
Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 6,000,000 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 1,000,000 | |
Available for Sale Securities, Amortized Cost, After 10 years | 4,550,000,000 | |
Securities available for sale, amortized cost | 4,557,000,000 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 262,000,000 | |
Held to Maturity Securities, Amortized Cost, Total | 262,000,000 | |
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities Agency [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale Securities, Amortized Cost, 1 year or less | 104,000,000 | |
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 156,000,000 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 45,000,000 | |
Available for Sale Securities, Amortized Cost, After 10 years | 1,813,000,000 | |
Securities available for sale, amortized cost | 2,118,000,000 | |
Held to Maturity Securities, Amortized Cost, After 1 year through 5 years | 945,000,000 | |
Held to Maturity Securities, Amortized Cost, After 5 years through 10 years | 144,000,000 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 59,000,000 | |
Held to Maturity Securities, Amortized Cost, Total | 1,148,000,000 | |
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 87,000,000 | |
Available for Sale Securities, Amortized Cost, After 10 years | 4,205,000,000 | |
Securities available for sale, amortized cost | 4,292,000,000 | |
Held to Maturity Securities, Amortized Cost, After 1 year through 5 years | 6,000,000 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 885,000,000 | |
Held to Maturity Securities, Amortized Cost, Total | 891,000,000 | |
Asset backed [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale Securities, Amortized Cost, 1 year or less | 2,000,000 | |
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 1,004,000,000 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 2,187,000,000 | |
Available for Sale Securities, Amortized Cost, After 10 years | 1,964,000,000 | |
Securities available for sale, amortized cost | 5,157,000,000 | |
Held to Maturity Securities, Amortized Cost, After 1 year through 5 years | 13,000,000 | |
Held to Maturity Securities, Amortized Cost, After 5 years through 10 years | 407,000,000 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 327,000,000 | |
Held to Maturity Securities, Amortized Cost, Total | 747,000,000 | |
State and Municipal [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale Securities, Amortized Cost, 1 year or less | 4,000,000 | |
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 145,000,000 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 300,000,000 | |
Available for Sale Securities, Amortized Cost, After 10 years | 1,554,000,000 | |
Securities available for sale, amortized cost | 2,003,000,000 | |
Held to Maturity Securities, Amortized Cost, After 1 year through 5 years | 32,000,000 | |
Held to Maturity Securities, Amortized Cost, After 5 years through 10 years | 844,000,000 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 1,138,000,000 | |
Held to Maturity Securities, Amortized Cost, Total | 2,014,000,000 | |
Other Debt Securities [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale Securities, Amortized Cost, 1 year or less | 147,000,000 | |
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 1,141,000,000 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 339,000,000 | |
Available for Sale Securities, Amortized Cost, After 10 years | 190,000,000 | |
Securities available for sale, amortized cost | 1,817,000,000 | |
Held to Maturity Securities, Amortized Cost, After 5 years through 10 years | 318,000,000 | |
Held to Maturity Securities, Amortized Cost, Total | $318,000,000 |
Investment_Securities_Weighted
Investment Securities (Weighted-Average Expected Maturity of Mortgage and Other Asset-Backed Debt Securities) (Details) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Dec. 31, 2014 | |
Mortgage And Other Asset Backed Securities [Line Items] | ||
Weighted average expected maturity | 4 years 1 month | 4 years 4 months |
Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Agency [Member] | ||
Mortgage And Other Asset Backed Securities [Line Items] | ||
Weighted average expected maturity | 3 years 7 months | |
Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | ||
Mortgage And Other Asset Backed Securities [Line Items] | ||
Weighted average expected maturity | 5 years 2 months | |
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities Agency [Member] | ||
Mortgage And Other Asset Backed Securities [Line Items] | ||
Weighted average expected maturity | 3 years 5 months | |
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | ||
Mortgage And Other Asset Backed Securities [Line Items] | ||
Weighted average expected maturity | 3 years 1 month | |
Asset backed [Member] | ||
Mortgage And Other Asset Backed Securities [Line Items] | ||
Weighted average expected maturity | 3 years 1 month |
Investment_Securities_Fair_Val
Investment Securities (Fair Value of Securities Pledged and Accepted as Collateral) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Investment Securities Disclosure [Abstract] | ||
Pledged to others | $10,523,000,000 | $10,874,000,000 |
Permitted by contract or custom to sell or repledge | 1,787,000,000 | 1,658,000,000 |
Permitted amount repledged to others | $1,620,000,000 | $1,488,000,000 |
Fair_Value_Narrative_Details
Fair Value (Narrative) (Details) (Fair Value, Measurements, Recurring [Member], Level 3 [Member], USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Recurring Liabilities - Fair Value | $710 | $716 | |
Transfers Into Level 3 | 6 | 42 | |
Transfers out of Level 3 - Assets | 26 | 38 | |
Loans - Portfolio [Member] | |||
Transfers Into Level 3 | 5 | 39 | |
Transfers out of Level 3 - Assets | 20 | 29 | |
Loans Held For Sale [Member] | Residential Mortgages [Member] | |||
Transfers Into Level 3 | 1 | 3 | |
Transfers out of Level 3 - Assets | $6 | $9 |
Fair_Value_Recurring_Fair_Valu
Fair Value (Recurring Fair Value Measurements) (Details) (USD $) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Dec. 31, 2014 | |
Assets | ||
Securities available for sale, fair value | $47,579,000,000 | $44,235,000,000 |
Trading securities | 2,151,000,000 | 2,353,000,000 |
Mortgage servicing rights | 1,333,000,000 | 1,351,000,000 |
Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 47,216,000,000 | 43,794,000,000 |
Securities available for sale, fair value | 47,579,000,000 | 44,235,000,000 |
Total financial derivatives | 6,253,000,000 | 5,234,000,000 |
Trading securities | 2,151,000,000 | 2,353,000,000 |
Trading loans | 34,000,000 | 37,000,000 |
Total equity investments | 1,591,000,000 | 1,621,000,000 |
Total customer resale agreements | 151,000,000 | 155,000,000 |
Loans | 1,001,000,000 | 1,034,000,000 |
Other assets | 814,000,000 | 799,000,000 |
Total Assets | 63,114,000,000 | 58,973,000,000 |
Liabilities | ||
Total financial derivatives | 4,744,000,000 | 4,027,000,000 |
Total trading securities sold short | 1,682,000,000 | 1,490,000,000 |
Other liabilities | 14,000,000 | 9,000,000 |
Other borrowed funds | 238,000,000 | 273,000,000 |
Total liabilities | 6,678,000,000 | 5,799,000,000 |
Fair Value Additional Information [Abstract] | ||
Fair value net derivative assets | 3,359,000,000 | 2,587,000,000 |
Fair value net derivative liabilities | 1,870,000,000 | 1,383,000,000 |
Net unrealized gains (losses) | 50,000,000 | 54,000,000 |
Percentage of Trading securities - debt comprised of US Treasury and government agencies securities | 49.00% | 57.00% |
Percentage of Trading securities - debt comprised of residential mortgage-backed securities | 33.00% | 34.00% |
US Treasury and Government Agencies Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 5,496,000,000 | 5,422,000,000 |
Residential mortgage-backed Securities [Member] | Mortgage-backed Securities Agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 21,268,000,000 | 18,043,000,000 |
Residential mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 4,764,000,000 | 4,942,000,000 |
Commercial mortgage-backed securities [Member] | Mortgage-backed Securities Agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 2,143,000,000 | 2,187,000,000 |
Commercial mortgage-backed securities [Member] | Mortgage-backed Securities Non-agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 4,378,000,000 | 4,162,000,000 |
Asset backed [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 5,215,000,000 | 5,187,000,000 |
State and Municipal [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 2,086,000,000 | 2,038,000,000 |
Other Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 1,866,000,000 | 1,813,000,000 |
Corporate Stocks And Other [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Securities available for sale, fair value | 363,000,000 | 441,000,000 |
Interest Rate Contracts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total financial derivatives | 5,718,000,000 | 4,918,000,000 |
Liabilities | ||
Total financial derivatives | 3,842,000,000 | 3,272,000,000 |
BlackRock LTIP [Member] | Fair Value, Measurements, Recurring [Member] | ||
Liabilities | ||
Total financial derivatives | 384,000,000 | 375,000,000 |
Other Contracts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total financial derivatives | 535,000,000 | 316,000,000 |
Liabilities | ||
Total financial derivatives | 518,000,000 | 380,000,000 |
Residential Mortgage [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Loans held for sale | 1,232,000,000 | 1,261,000,000 |
Mortgage servicing rights | 839,000,000 | 845,000,000 |
Commercial Mortgage [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Loans held for sale | 975,000,000 | 893,000,000 |
Mortgage servicing rights | 494,000,000 | 506,000,000 |
Direct equity investments [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total equity investments | 1,149,000,000 | 1,152,000,000 |
Fair Value Additional Information [Abstract] | ||
Unfunded contractual commitments | 26,000,000 | 28,000,000 |
Indirect Equity Investments [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total equity investments | 442,000,000 | 469,000,000 |
Fair Value Additional Information [Abstract] | ||
Unfunded contractual commitments | 121,000,000 | 112,000,000 |
Number of years over which distributions from indirect equity funds are expected to be received | 12 years | |
BlackRock Series C Preferred Stock | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Other assets | 384,000,000 | 375,000,000 |
Other Assets [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Other assets | 430,000,000 | 424,000,000 |
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Trading securities | 2,130,000,000 | 2,332,000,000 |
Liabilities | ||
Total trading securities sold short | 1,682,000,000 | 1,490,000,000 |
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Trading securities | 21,000,000 | 21,000,000 |
Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 4,867,000,000 | 4,795,000,000 |
Securities available for sale, fair value | 5,214,000,000 | 5,221,000,000 |
Total financial derivatives | 5,000,000 | 4,000,000 |
Trading securities | 1,067,000,000 | 1,361,000,000 |
Other assets | 242,000,000 | 190,000,000 |
Total Assets | 6,528,000,000 | 6,776,000,000 |
Liabilities | ||
Total financial derivatives | 3,000,000 | |
Total trading securities sold short | 1,667,000,000 | 1,479,000,000 |
Total liabilities | 1,670,000,000 | 1,479,000,000 |
Level 1 [Member] | US Treasury and Government Agencies Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 4,867,000,000 | 4,795,000,000 |
Level 1 [Member] | Corporate Stocks And Other [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Securities available for sale, fair value | 347,000,000 | 426,000,000 |
Level 1 [Member] | Interest Rate Contracts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total financial derivatives | 5,000,000 | 4,000,000 |
Liabilities | ||
Total financial derivatives | 3,000,000 | |
Level 1 [Member] | Other Assets [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Other assets | 242,000,000 | 190,000,000 |
Level 1 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Trading securities | 1,046,000,000 | 1,340,000,000 |
Liabilities | ||
Total trading securities sold short | 1,667,000,000 | 1,479,000,000 |
Level 1 [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Trading securities | 21,000,000 | 21,000,000 |
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 37,011,000,000 | 33,474,000,000 |
Securities available for sale, fair value | 37,027,000,000 | 33,489,000,000 |
Total financial derivatives | 6,194,000,000 | 5,188,000,000 |
Trading securities | 1,081,000,000 | 960,000,000 |
Trading loans | 32,000,000 | 30,000,000 |
Total customer resale agreements | 151,000,000 | 155,000,000 |
Loans | 618,000,000 | 637,000,000 |
Other assets | 180,000,000 | 226,000,000 |
Total Assets | 46,508,000,000 | 41,940,000,000 |
Liabilities | ||
Total financial derivatives | 4,212,000,000 | 3,501,000,000 |
Total trading securities sold short | 15,000,000 | 11,000,000 |
Other liabilities | 4,000,000 | |
Other borrowed funds | 67,000,000 | 92,000,000 |
Total liabilities | 4,298,000,000 | 3,604,000,000 |
Level 2 [Member] | US Treasury and Government Agencies Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 629,000,000 | 627,000,000 |
Level 2 [Member] | Residential mortgage-backed Securities [Member] | Mortgage-backed Securities Agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 21,268,000,000 | 18,043,000,000 |
Level 2 [Member] | Residential mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 140,000,000 | 144,000,000 |
Level 2 [Member] | Commercial mortgage-backed securities [Member] | Mortgage-backed Securities Agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 2,143,000,000 | 2,187,000,000 |
Level 2 [Member] | Commercial mortgage-backed securities [Member] | Mortgage-backed Securities Non-agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 4,378,000,000 | 4,162,000,000 |
Level 2 [Member] | Asset backed [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 4,667,000,000 | 4,624,000,000 |
Level 2 [Member] | State and Municipal [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 1,953,000,000 | 1,904,000,000 |
Level 2 [Member] | Other Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 1,833,000,000 | 1,783,000,000 |
Level 2 [Member] | Corporate Stocks And Other [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Securities available for sale, fair value | 16,000,000 | 15,000,000 |
Level 2 [Member] | Interest Rate Contracts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total financial derivatives | 5,662,000,000 | 4,874,000,000 |
Liabilities | ||
Total financial derivatives | 3,823,000,000 | 3,260,000,000 |
Level 2 [Member] | Other Contracts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total financial derivatives | 532,000,000 | 314,000,000 |
Liabilities | ||
Total financial derivatives | 389,000,000 | 241,000,000 |
Level 2 [Member] | Residential Mortgage [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Loans held for sale | 1,225,000,000 | 1,255,000,000 |
Level 2 [Member] | Other Assets [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Other assets | 180,000,000 | 226,000,000 |
Level 2 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Trading securities | 1,081,000,000 | 960,000,000 |
Liabilities | ||
Total trading securities sold short | 15,000,000 | 11,000,000 |
Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 5,338,000,000 | 5,525,000,000 |
Securities available for sale, fair value | 5,338,000,000 | 5,525,000,000 |
Total financial derivatives | 54,000,000 | 42,000,000 |
Trading securities | 3,000,000 | 32,000,000 |
Trading loans | 2,000,000 | 7,000,000 |
Total equity investments | 1,591,000,000 | 1,621,000,000 |
Loans | 383,000,000 | 397,000,000 |
Other assets | 392,000,000 | 383,000,000 |
Total Assets | 10,078,000,000 | 10,257,000,000 |
Liabilities | ||
Total financial derivatives | 529,000,000 | 526,000,000 |
Other liabilities | 10,000,000 | 9,000,000 |
Other borrowed funds | 171,000,000 | 181,000,000 |
Total liabilities | 710,000,000 | 716,000,000 |
Level 3 [Member] | Residential mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 4,624,000,000 | 4,798,000,000 |
Level 3 [Member] | Asset backed [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 548,000,000 | 563,000,000 |
Level 3 [Member] | State and Municipal [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 133,000,000 | 134,000,000 |
Level 3 [Member] | Other Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 33,000,000 | 30,000,000 |
Level 3 [Member] | Interest Rate Contracts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total financial derivatives | 51,000,000 | 40,000,000 |
Liabilities | ||
Total financial derivatives | 16,000,000 | 12,000,000 |
Level 3 [Member] | BlackRock LTIP [Member] | Fair Value, Measurements, Recurring [Member] | ||
Liabilities | ||
Total financial derivatives | 384,000,000 | 375,000,000 |
Level 3 [Member] | Other Contracts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total financial derivatives | 3,000,000 | 2,000,000 |
Liabilities | ||
Total financial derivatives | 129,000,000 | 139,000,000 |
Level 3 [Member] | Residential Mortgage [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Loans held for sale | 7,000,000 | 6,000,000 |
Mortgage servicing rights | 839,000,000 | 845,000,000 |
Level 3 [Member] | Commercial Mortgage [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Loans held for sale | 975,000,000 | 893,000,000 |
Mortgage servicing rights | 494,000,000 | 506,000,000 |
Level 3 [Member] | Direct equity investments [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total equity investments | 1,149,000,000 | 1,152,000,000 |
Level 3 [Member] | Indirect Equity Investments [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total equity investments | 442,000,000 | 469,000,000 |
Level 3 [Member] | BlackRock Series C Preferred Stock | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Other assets | 384,000,000 | 375,000,000 |
Level 3 [Member] | Other Assets [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Other assets | 8,000,000 | 8,000,000 |
Level 3 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Trading securities | $3,000,000 | $32,000,000 |
Fair_Value_Reconciliation_of_R
Fair Value (Reconciliation of Recurring Fair Value Measurements) (Details) (Fair Value, Measurements, Recurring [Member], Level 3 [Member], USD $) | 3 Months Ended | 1 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Jan. 31, 2014 | Dec. 31, 2013 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | $10,257 | $10,650 | $10,650 | |
Included in earnings | 110 | 85 | ||
Included in other comprehensive income | -11 | 74 | ||
Purchases | 182 | 103 | ||
Sales | -128 | -49 | ||
Issuances | 1,114 | 30 | ||
Settlements | -1,426 | 167 | ||
Transfers Into Level 3 | 6 | 42 | ||
Transfers Out of Level 3 | -26 | -38 | ||
Ending Balance | 10,078 | 11,064 | ||
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 40 | 34 | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 716 | 638 | 638 | |
Included in earnings | 42 | 44 | ||
Sales | 1 | |||
Issuances | 25 | 9 | ||
Settlements | -73 | -59 | ||
Ending Balance | 710 | 633 | ||
Unrealized gains or (losses) on liabilities held on Consolidated Balance Sheet | -6 | -4 | ||
Fair Value Additional Information [Abstract] | ||||
Net gains (losses) included in earnings (realized and unrealized) relating to Level 3 assets and liabilities | 68 | 41 | ||
Amortization and accretion included in earnings relating to Level 3 assets and liabilities | 40 | 41 | ||
Net unrealized gains (losses) relating to Level 3 assets and liabilities | 46 | 38 | ||
Available-for-sale Securities [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 5,525 | 6,370 | 6,370 | |
Included in earnings | 39 | 37 | ||
Included in other comprehensive income | -11 | 74 | ||
Purchases | 3 | |||
Sales | -6 | |||
Settlements | -218 | -236 | ||
Ending Balance | 5,338 | 6,239 | ||
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | -1 | -2 | ||
Available-for-sale Securities [Member] | Residential mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 4,798 | 5,358 | 5,358 | |
Included in earnings | 25 | 34 | ||
Included in other comprehensive income | -14 | 54 | ||
Settlements | -185 | -212 | ||
Ending Balance | 4,624 | 5,234 | ||
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | -1 | -2 | ||
Available-for-sale Securities [Member] | Commercial mortgage-backed securities [Member] | Mortgage-backed Securities Non-agency [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Included in earnings | 7 | |||
Settlements | -7 | |||
Available-for-sale Securities [Member] | Asset backed [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 563 | 641 | 641 | |
Included in earnings | 6 | 4 | ||
Included in other comprehensive income | 4 | 19 | ||
Settlements | -25 | -22 | ||
Ending Balance | 548 | 642 | ||
Available-for-sale Securities [Member] | State and Municipal [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 134 | 333 | 333 | |
Included in earnings | -2 | |||
Included in other comprehensive income | -1 | 1 | ||
Settlements | -1 | |||
Ending Balance | 133 | 331 | ||
Available-for-sale Securities [Member] | Other debt [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 30 | 38 | 38 | |
Included in earnings | 1 | 1 | ||
Purchases | 3 | |||
Sales | -6 | |||
Settlements | -1 | -1 | ||
Ending Balance | 33 | 32 | ||
Financial Derivatives [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 42 | 36 | 36 | |
Included in earnings | 71 | 60 | ||
Purchases | 1 | |||
Settlements | -60 | -66 | ||
Ending Balance | 54 | 30 | ||
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 59 | 52 | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 526 | 439 | 439 | |
Included in earnings | 41 | 40 | ||
Sales | 1 | |||
Settlements | -38 | -40 | ||
Ending Balance | 529 | 440 | ||
Unrealized gains or (losses) on liabilities held on Consolidated Balance Sheet | -6 | -4 | ||
Trading Securities - Debt [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 32 | 32 | 32 | |
Sales | 0 | |||
Settlements | -29 | |||
Ending Balance | 3 | 32 | ||
Trading Loans [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 7 | |||
Sales | -5 | |||
Ending Balance | 2 | |||
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 845 | 1,087 | 1,087 | |
Included in earnings | -67 | -59 | ||
Purchases | 83 | 17 | ||
Issuances | 17 | 23 | ||
Settlements | -39 | -29 | ||
Ending Balance | 839 | 1,039 | ||
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | -65 | -58 | ||
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 506 | |||
Included in earnings | -16 | -14 | ||
Purchases | 11 | 7 | ||
Issuances | 14 | 7 | ||
Settlements | -21 | -529 | 552 | |
Ending Balance | 494 | 529 | ||
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | -16 | -14 | ||
Loans Held For Sale [Member] | Residential Mortgage [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 6 | 8 | 8 | |
Purchases | 6 | 5 | ||
Sales | -2 | |||
Settlements | 0 | |||
Transfers Into Level 3 | 1 | 3 | ||
Transfers Out of Level 3 | -6 | -9 | ||
Ending Balance | 7 | 5 | ||
Loans Held For Sale [Member] | Commercial Mortgage [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 893 | 586 | 586 | |
Included in earnings | 21 | 2 | ||
Issuances | 1,083 | |||
Settlements | -1,022 | -11 | ||
Ending Balance | 975 | 577 | ||
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 15 | 2 | ||
Equity Investments [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 1,621 | 1,664 | 1,664 | |
Included in earnings | 43 | 52 | ||
Purchases | 46 | 75 | ||
Sales | -119 | -35 | ||
Settlements | 1 | |||
Ending Balance | 1,591 | 1,757 | ||
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 31 | 50 | ||
Equity Investments [Member] | Direct equity investments [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 1,152 | 1,069 | 1,069 | |
Included in earnings | 29 | 34 | ||
Purchases | 43 | 69 | ||
Sales | -75 | -9 | ||
Ending Balance | 1,149 | 1,163 | ||
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 18 | 33 | ||
Equity Investments [Member] | Indirect Equity Investments [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 469 | 595 | 595 | |
Included in earnings | 14 | 18 | ||
Purchases | 3 | 6 | ||
Sales | -44 | -26 | ||
Settlements | 1 | |||
Ending Balance | 442 | 594 | ||
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 13 | 17 | ||
Loans [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 397 | 527 | 527 | |
Included in earnings | 10 | 9 | ||
Purchases | 32 | -1 | ||
Sales | -4 | -6 | ||
Settlements | -37 | -21 | ||
Transfers Into Level 3 | 5 | 39 | ||
Transfers Out of Level 3 | -20 | -29 | ||
Ending Balance | 383 | 518 | ||
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 8 | 6 | ||
Other Assets [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 383 | 340 | 340 | |
Included in earnings | 9 | -2 | ||
Settlements | 0 | |||
Ending Balance | 392 | 338 | ||
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 9 | -2 | ||
Other Assets [Member] | Other Assets [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 8 | 8 | ||
Sales | 0 | |||
Ending Balance | 8 | 8 | 8 | |
Other Assets [Member] | BlackRock Series C Preferred Stock | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 375 | 332 | 332 | |
Included in earnings | 9 | -2 | ||
Ending Balance | 384 | 330 | ||
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 9 | -2 | ||
Other Borrowed Funds [Member] | ||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 181 | 199 | 199 | |
Included in earnings | 4 | |||
Issuances | 25 | 9 | ||
Settlements | -35 | -19 | ||
Ending Balance | 171 | 193 | ||
Other Liabilities | ||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 9 | |||
Included in earnings | 1 | |||
Ending Balance | $10 |
Fair_Value_Fair_Value_Measurem
Fair Value (Fair Value Measurements- Recurring Quantitative Information) (Details) (Fair Value, Measurements, Recurring [Member], Level 3 [Member], USD $) | 3 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | 10,078 | 10,257 |
Recurring Liabilities - Fair Value | 710 | 716 |
Total Recurring Assets Net of Recurring Liabilities - Fair Value | 9,368 | 9,541 |
Available-for-sale Securities [Member] | Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Priced By A Third Party Vendor Using Discounted Cash Flow Pricing Model [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | 4,624 | 4,798 |
Available-for-sale Securities [Member] | Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Priced By A Third Party Vendor Using Discounted Cash Flow Pricing Model [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 1.00% | 1.00% |
Constant default rate (CDR) | 0.00% | 0.00% |
Loss Severity | 1.00% | 6.10% |
Available-for-sale Securities [Member] | Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Priced By A Third Party Vendor Using Discounted Cash Flow Pricing Model [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 24.20% | 28.90% |
Constant default rate (CDR) | 16.70% | 16.70% |
Loss Severity | 100.00% | 100.00% |
Available-for-sale Securities [Member] | Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Priced By A Third Party Vendor Using Discounted Cash Flow Pricing Model [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 6.90% | 6.80% |
Constant default rate (CDR) | 5.40% | 5.60% |
Loss Severity | 53.20% | 53.10% |
Spread over the benchmark curve | 2.60% | 2.49% |
Available-for-sale Securities [Member] | Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Priced By A Third Party Vendor Using Discounted Cash Flow Pricing Model [Member] | Third Party Pricing Services Available [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | 3,881 | 4,081 |
Available-for-sale Securities [Member] | Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Priced By A Third Party Vendor Using Discounted Cash Flow Pricing Model [Member] | Third Party Pricing Services Unavailable [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | 743 | 717 |
Available-for-sale Securities [Member] | Asset backed [Member] | Priced By A Third Party Vendor Using Discounted Cash Flow Pricing Model [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | 548 | 563 |
Available-for-sale Securities [Member] | Asset backed [Member] | Priced By A Third Party Vendor Using Discounted Cash Flow Pricing Model [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 1.00% | 1.00% |
Constant default rate (CDR) | 1.70% | 1.70% |
Loss Severity | 14.60% | 14.60% |
Available-for-sale Securities [Member] | Asset backed [Member] | Priced By A Third Party Vendor Using Discounted Cash Flow Pricing Model [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 15.70% | 15.70% |
Constant default rate (CDR) | 13.90% | 13.90% |
Loss Severity | 100.00% | 100.00% |
Available-for-sale Securities [Member] | Asset backed [Member] | Priced By A Third Party Vendor Using Discounted Cash Flow Pricing Model [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 6.20% | 5.90% |
Constant default rate (CDR) | 7.20% | 7.60% |
Loss Severity | 75.50% | 73.50% |
Spread over the benchmark curve | 3.39% | 3.52% |
Available-for-sale Securities [Member] | Asset backed [Member] | Priced By A Third Party Vendor Using Discounted Cash Flow Pricing Model [Member] | Third Party Pricing Services Available [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | 516 | 532 |
Available-for-sale Securities [Member] | Asset backed [Member] | Priced By A Third Party Vendor Using Discounted Cash Flow Pricing Model [Member] | Third Party Pricing Services Unavailable [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | 32 | 31 |
Available-for-sale Securities [Member] | State and Municipal [Member] | Discounted Cash Flow [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | 131 | 132 |
Available-for-sale Securities [Member] | State and Municipal [Member] | Discounted Cash Flow [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Spread over the benchmark curve | 0.50% | 0.55% |
Available-for-sale Securities [Member] | State and Municipal [Member] | Discounted Cash Flow [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Spread over the benchmark curve | 2.15% | 1.65% |
Available-for-sale Securities [Member] | State and Municipal [Member] | Discounted Cash Flow [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Spread over the benchmark curve | 0.67% | 0.67% |
Available-for-sale Securities [Member] | State and Municipal [Member] | Consensus Pricing [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | 2 | 2 |
Available-for-sale Securities [Member] | State and Municipal [Member] | Consensus Pricing [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Credit and Liquidity discount | 0.00% | 0.00% |
Available-for-sale Securities [Member] | State and Municipal [Member] | Consensus Pricing [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Credit and Liquidity discount | 30.00% | 20.00% |
Available-for-sale Securities [Member] | State and Municipal [Member] | Consensus Pricing [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Credit and Liquidity discount | 18.00% | 14.90% |
Available-for-sale Securities [Member] | Other Debt Securities [Member] | Consensus Pricing [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | 33 | 30 |
Available-for-sale Securities [Member] | Other Debt Securities [Member] | Consensus Pricing [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Credit and Liquidity discount | 7.00% | 7.00% |
Available-for-sale Securities [Member] | Other Debt Securities [Member] | Consensus Pricing [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Credit and Liquidity discount | 100.00% | 95.00% |
Available-for-sale Securities [Member] | Other Debt Securities [Member] | Consensus Pricing [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Credit and Liquidity discount | 88.60% | 88.60% |
Trading Securities - Debt [Member] | Consensus Pricing [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | 32 | |
Trading Securities - Debt [Member] | Consensus Pricing [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Credit and Liquidity discount | 0.00% | |
Trading Securities - Debt [Member] | Consensus Pricing [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Credit and Liquidity discount | 15.00% | |
Trading Securities - Debt [Member] | Consensus Pricing [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Credit and Liquidity discount | 8.00% | |
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | Discounted Cash Flow [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | 839 | 845 |
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | Discounted Cash Flow [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 0.30% | 3.80% |
Spread over the benchmark curve | 7.08% | 8.89% |
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | Discounted Cash Flow [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 38.80% | 32.70% |
Spread over the benchmark curve | 18.80% | 18.88% |
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | Discounted Cash Flow [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 12.40% | 11.20% |
Spread over the benchmark curve | 9.85% | 10.36% |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | Discounted Cash Flow [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | 494 | 506 |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | Discounted Cash Flow [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 6.40% | 7.00% |
Discount rate | 1.10% | 2.50% |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | Discounted Cash Flow [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 20.00% | 16.80% |
Discount rate | 8.80% | 8.60% |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | Discounted Cash Flow [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 7.50% | 8.00% |
Discount rate | 6.50% | 6.60% |
Loans Held For Sale [Member] | Commercial Mortgage [Member] | Discounted Cash Flow [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | 975 | 893 |
Loans Held For Sale [Member] | Commercial Mortgage [Member] | Discounted Cash Flow [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Spread over the benchmark curve | 0.29% | 0.37% |
Estimated servicing cash flows | 0.00% | 0.00% |
Loans Held For Sale [Member] | Commercial Mortgage [Member] | Discounted Cash Flow [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Spread over the benchmark curve | 47.20% | 40.25% |
Estimated servicing cash flows | 2.00% | 2.00% |
Loans Held For Sale [Member] | Commercial Mortgage [Member] | Discounted Cash Flow [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Spread over the benchmark curve | 4.98% | 5.49% |
Estimated servicing cash flows | 1.60% | 1.20% |
Equity Investments [Member] | Direct equity investments [Member] | Multiple Of Adjusted Earnings [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | 1,149 | 1,152 |
Equity Investments [Member] | Direct equity investments [Member] | Multiple Of Adjusted Earnings [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Multiple of earnings | 3.3 | 3.2 |
Equity Investments [Member] | Direct equity investments [Member] | Multiple Of Adjusted Earnings [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Multiple of earnings | 13.9 | 13.9 |
Equity Investments [Member] | Direct equity investments [Member] | Multiple Of Adjusted Earnings [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Multiple of earnings | 7.6 | 7.7 |
Equity Investments [Member] | Indirect Equity Investments [Member] | Net Asset Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | 442 | 469 |
Loans - Residential real estate [Member] | Discounted Cash Flow [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | 138 | 154 |
Loans - Residential real estate [Member] | Discounted Cash Flow [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loss Severity | 8.00% | 8.00% |
Discount rate | 3.50% | 3.40% |
Loans - Residential real estate [Member] | Consensus Pricing [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | 121 | 114 |
Loans - Residential real estate [Member] | Consensus Pricing [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loss Severity | 0.00% | 0.00% |
Cumulative default rate | 2.00% | 2.00% |
Discount rate | 4.90% | 5.40% |
Loans - Residential real estate [Member] | Consensus Pricing [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loss Severity | 100.00% | 100.00% |
Cumulative default rate | 100.00% | 100.00% |
Discount rate | 6.90% | 7.00% |
Loans - Residential real estate [Member] | Consensus Pricing [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loss Severity | 30.90% | 35.60% |
Cumulative default rate | 86.70% | 90.50% |
Discount rate | 5.00% | 6.40% |
Loans - Home equity [Member] | Consensus Pricing [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | 124 | 129 |
Loans - Home equity [Member] | Consensus Pricing [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Credit and Liquidity discount | 26.00% | 26.00% |
Loans - Home equity [Member] | Consensus Pricing [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Credit and Liquidity discount | 99.00% | 99.00% |
Loans - Home equity [Member] | Consensus Pricing [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Credit and Liquidity discount | 52.00% | 51.00% |
Other Assets [Member] | BlackRock Series C Preferred Stock | Consensus Pricing [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | 384 | 375 |
Other Assets [Member] | BlackRock Series C Preferred Stock | Consensus Pricing [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liquidity Discount | 20.00% | 20.00% |
Other Assets [Member] | BlackRock Series C Preferred Stock | Consensus Pricing [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liquidity Discount | 20.00% | 20.00% |
Other Assets [Member] | BlackRock Series C Preferred Stock | Consensus Pricing [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liquidity Discount | 20.00% | 20.00% |
Financial Derivatives [Member] | BlackRock LTIP [Member] | Consensus Pricing [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Liabilities - Fair Value | 384 | 375 |
Financial Derivatives [Member] | BlackRock LTIP [Member] | Consensus Pricing [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liquidity Discount | 20.00% | 20.00% |
Financial Derivatives [Member] | BlackRock LTIP [Member] | Consensus Pricing [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liquidity Discount | 20.00% | 20.00% |
Financial Derivatives [Member] | BlackRock LTIP [Member] | Consensus Pricing [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liquidity Discount | 20.00% | 20.00% |
Financial Derivatives [Member] | Visa Class B Swap [Member] | Discounted Cash Flow [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Liabilities - Fair Value | 124 | 135 |
Financial Derivatives [Member] | Visa Class B Swap [Member] | Discounted Cash Flow [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated conversion factor of Class B shares into Class A shares | 164.30% | 41.10% |
Estimated growth rate of Visa Class A share price | 16.10% | 14.80% |
Financial Derivatives [Member] | Visa Class B Swap [Member] | Discounted Cash Flow [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated conversion factor of Class B shares into Class A shares | 164.30% | 41.10% |
Estimated growth rate of Visa Class A share price | 16.10% | 14.80% |
Financial Derivatives [Member] | Visa Class B Swap [Member] | Discounted Cash Flow [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated conversion factor of Class B shares into Class A shares | 164.30% | 41.10% |
Estimated growth rate of Visa Class A share price | 16.10% | 14.80% |
Other borrowed funds [Member] | Non-Agency Securitization [Member] | Consensus Pricing [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Liabilities - Fair Value | 160 | 166 |
Other borrowed funds [Member] | Non-Agency Securitization [Member] | Consensus Pricing [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Spread over the benchmark curve | 1.06% | 1.13% |
Credit and Liquidity discount | 0.00% | 0.00% |
Other borrowed funds [Member] | Non-Agency Securitization [Member] | Consensus Pricing [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Spread over the benchmark curve | 1.06% | 1.13% |
Credit and Liquidity discount | 99.00% | 99.00% |
Other borrowed funds [Member] | Non-Agency Securitization [Member] | Consensus Pricing [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Spread over the benchmark curve | 1.06% | 1.13% |
Credit and Liquidity discount | 19.00% | 18.00% |
Insignificant Assets, Net of Liabilities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | 32 | 23 |
Fair_Value_Nonrecurring_Fair_V
Fair Value (Nonrecurring Fair Value Measurements) (Details) (Fair Value, Measurements, Nonrecurring [Member], USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Nonrecurring Assets - Fair Value | $269 | ||
Level 2 [Member] | Loans Held For Sale [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Nonrecurring Assets - Fair Value | 8 | ||
Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Nonrecurring Assets - Fair Value | 169 | 261 | |
Nonrecurring Assets - Gains (Losses) | -16 | -26 | |
Level 3 [Member] | Nonaccrual Loans [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Nonrecurring Assets - Fair Value | 53 | 54 | |
Nonrecurring Assets - Gains (Losses) | 3 | -8 | |
Level 3 [Member] | Loans Held For Sale [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Nonrecurring Assets - Gains (Losses) | -2 | ||
Level 3 [Member] | Equity Investments [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Nonrecurring Assets - Fair Value | 22 | 17 | |
Nonrecurring Assets - Gains (Losses) | -1 | ||
Level 3 [Member] | OREO and Foreclosed Assets [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Nonrecurring Assets - Fair Value | 81 | 168 | |
Nonrecurring Assets - Gains (Losses) | -10 | -12 | |
Level 3 [Member] | Long-lived assets held for sale [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Nonrecurring Assets - Fair Value | 13 | 22 | |
Nonrecurring Assets - Gains (Losses) | ($8) | ($4) |
Fair_Value_Fair_Value_Measurem1
Fair Value (Fair Value Measurements- Nonrecurring Quantitative Information) (Details) (Fair Value, Measurements, Nonrecurring [Member], USD $) | 3 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | 269 | |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | 169 | 261 |
Level 3 [Member] | Other Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | 107 | 215 |
Level 3 [Member] | Nonaccrual Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | 53 | 54 |
Level 3 [Member] | Nonaccrual Loans [Member] | Other Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | 13 | 25 |
Level 3 [Member] | Nonaccrual Loans [Member] | LGD percentage [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | 40 | 29 |
Level 3 [Member] | Nonaccrual Loans [Member] | LGD percentage [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loss Severity | 3.90% | 2.90% |
Level 3 [Member] | Nonaccrual Loans [Member] | LGD percentage [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loss Severity | 70.40% | 68.50% |
Level 3 [Member] | Nonaccrual Loans [Member] | LGD percentage [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loss Severity | 32.60% | 42.10% |
Level 3 [Member] | Equity Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | 22 | 17 |
Level 3 [Member] | Equity Investments [Member] | Discounted Cash Flow [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Market rate of return | 6.00% | 6.00% |
Level 3 [Member] | Equity Investments [Member] | Discounted Cash Flow [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Market rate of return | 6.00% | 6.00% |
Level 3 [Member] | Equity Investments [Member] | Discounted Cash Flow [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Market rate of return | 6.00% | 6.00% |
Level 3 [Member] | OREO and Foreclosed Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | 81 | 168 |
Level 3 [Member] | OREO and Foreclosed Assets [Member] | Other Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | 81 | 168 |
Level 3 [Member] | Long-lived assets held for sale [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | 13 | 22 |
Level 3 [Member] | Long-lived assets held for sale [Member] | Other Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | 13 | 22 |
Fair_Value_Fair_Value_Option_C
Fair Value (Fair Value Option - Changes in Fair Value) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Customer Resale Agreements [Member] | ||
Gains (Losses) - FVO: Changes in Fair Value | ($1) | |
Trading Loans [Member] | ||
Gains (Losses) - FVO: Changes in Fair Value | 1 | |
Loans Held For Sale [Member] | Commercial Mortgage [Member] | ||
Gains (Losses) - FVO: Changes in Fair Value | 25 | 2 |
Loans Held For Sale [Member] | Residential Mortgage [Member] | ||
Gains (Losses) - FVO: Changes in Fair Value | 46 | 65 |
Quantifying Misstatement In Current Year Financial Statements Amount | 14 | |
Loans - Portfolio [Member] | Residential Mortgage [Member] | ||
Gains (Losses) - FVO: Changes in Fair Value | 16 | 28 |
Quantifying Misstatement In Current Year Financial Statements Amount | -17 | |
BlackRock Series C Preferred Stock | ||
Gains (Losses) - FVO: Changes in Fair Value | 9 | -2 |
Other Borrowed Funds [Member] | ||
Gains (Losses) - FVO: Changes in Fair Value | ($4) |
Fair_Value_Fair_Value_Option_F
Fair Value (Fair Value Option - Fair Value and Principal Balances) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Customer Resale Agreements [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | $151 | $155 |
Aggregate Unpaid Principal Balance - Assets | 144 | 148 |
Difference - Assets | 7 | 7 |
Trading Loans [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 34 | 37 |
Aggregate Unpaid Principal Balance - Assets | 34 | 37 |
Loans Held For Sale [Member] | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 1,232 | 1,261 |
Aggregate Unpaid Principal Balance - Assets | 1,181 | 1,202 |
Difference - Assets | 51 | 59 |
Loans Held For Sale [Member] | Commercial Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 975 | 893 |
Aggregate Unpaid Principal Balance - Assets | 1,046 | 972 |
Difference - Assets | -71 | -79 |
Loans Held For Sale [Member] | Performing Loans [Member] | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 1,204 | 1,236 |
Aggregate Unpaid Principal Balance - Assets | 1,152 | 1,176 |
Difference - Assets | 52 | 60 |
Loans Held For Sale [Member] | Performing Loans [Member] | Commercial Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 956 | 873 |
Aggregate Unpaid Principal Balance - Assets | 983 | 908 |
Difference - Assets | -27 | -35 |
Loans Held For Sale [Member] | Accruing loans 90 days or more past due | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 8 | 9 |
Aggregate Unpaid Principal Balance - Assets | 8 | 9 |
Loans Held For Sale [Member] | Nonaccrual Loans [Member] | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 20 | 16 |
Aggregate Unpaid Principal Balance - Assets | 21 | 17 |
Difference - Assets | -1 | -1 |
Loans Held For Sale [Member] | Nonaccrual Loans [Member] | Commercial Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 19 | 20 |
Aggregate Unpaid Principal Balance - Assets | 63 | 64 |
Difference - Assets | -44 | -44 |
Loans - Portfolio [Member] | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 1,001 | 1,034 |
Aggregate Unpaid Principal Balance - Assets | 1,230 | 1,278 |
Difference - Assets | -229 | -244 |
Loans - Portfolio [Member] | Performing Loans [Member] | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 254 | 194 |
Aggregate Unpaid Principal Balance - Assets | 315 | 256 |
Difference - Assets | -61 | -62 |
Loans - Portfolio [Member] | Accruing loans 90 days or more past due | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 485 | 570 |
Aggregate Unpaid Principal Balance - Assets | 488 | 573 |
Difference - Assets | -3 | -3 |
Loans - Portfolio [Member] | Nonaccrual Loans [Member] | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 262 | 270 |
Aggregate Unpaid Principal Balance - Assets | 427 | 449 |
Difference - Assets | -165 | -179 |
Other Borrowed Funds [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Liabilities | 238 | 273 |
Aggregate Unpaid Principal Balance - Liabilities | 276 | 312 |
Difference - Liabilities | ($38) | ($39) |
Fair_Value_Additional_Fair_Val
Fair Value (Additional Fair Value Information Related To Financial Instruments) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Carrying Amount [Member] | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings | ||
Cash and due from banks | $4,151,000,000 | $4,360,000,000 |
Short-term assets | 33,897,000,000 | 34,380,000,000 |
Securities held to maturity | 13,189,000,000 | 11,588,000,000 |
Loans held for sale | 216,000,000 | 108,000,000 |
Net loans (excludes leases) | 192,780,000,000 | 192,573,000,000 |
Other assets | 1,924,000,000 | 1,879,000,000 |
Total assets | 246,157,000,000 | 244,888,000,000 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Borrowed funds | 55,199,000,000 | 55,329,000,000 |
Unfunded loan commitments and letters of credit | 217,000,000 | 240,000,000 |
Total liabilities | 291,919,000,000 | 287,803,000,000 |
Carrying Amount [Member] | Demand, savings and money market deposits [Member] | ||
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Deposits | 215,965,000,000 | 210,838,000,000 |
Carrying Amount [Member] | Time deposits [Member] | ||
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Deposits | 20,538,000,000 | 21,396,000,000 |
Fair Value [Member] | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings | ||
Cash and due from banks | 4,151,000,000 | 4,360,000,000 |
Short-term assets | 33,897,000,000 | 34,380,000,000 |
Securities held to maturity | 13,640,000,000 | 11,984,000,000 |
Loans held for sale | 216,000,000 | 108,000,000 |
Net loans (excludes leases) | 194,750,000,000 | 194,564,000,000 |
Other assets | 2,587,000,000 | 2,544,000,000 |
Total assets | 249,241,000,000 | 247,940,000,000 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Borrowed funds | 55,987,000,000 | 56,011,000,000 |
Unfunded loan commitments and letters of credit | 217,000,000 | 240,000,000 |
Total liabilities | 292,700,000,000 | 288,481,000,000 |
Fair Value [Member] | Demand, savings and money market deposits [Member] | ||
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Deposits | 215,965,000,000 | 210,838,000,000 |
Fair Value [Member] | Time deposits [Member] | ||
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Deposits | 20,531,000,000 | 21,392,000,000 |
Fair Value [Member] | Level 1 [Member] | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings | ||
Cash and due from banks | 4,151,000,000 | 4,360,000,000 |
Securities held to maturity | 304,000,000 | 292,000,000 |
Total assets | 4,455,000,000 | 4,652,000,000 |
Fair Value [Member] | Level 2 [Member] | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings | ||
Short-term assets | 33,897,000,000 | 34,380,000,000 |
Securities held to maturity | 13,328,000,000 | 11,683,000,000 |
Loans held for sale | 134,000,000 | 56,000,000 |
Other assets | 1,847,000,000 | 1,802,000,000 |
Total assets | 49,206,000,000 | 47,921,000,000 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Borrowed funds | 54,512,000,000 | 54,574,000,000 |
Total liabilities | 291,008,000,000 | 286,804,000,000 |
Fair Value [Member] | Level 2 [Member] | Demand, savings and money market deposits [Member] | ||
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Deposits | 215,965,000,000 | 210,838,000,000 |
Fair Value [Member] | Level 2 [Member] | Time deposits [Member] | ||
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Deposits | 20,531,000,000 | 21,392,000,000 |
Fair Value [Member] | Level 3 [Member] | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings | ||
Securities held to maturity | 8,000,000 | 9,000,000 |
Loans held for sale | 82,000,000 | 52,000,000 |
Net loans (excludes leases) | 194,750,000,000 | 194,564,000,000 |
Other assets | 740,000,000 | 742,000,000 |
Total assets | 195,580,000,000 | 195,367,000,000 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Borrowed funds | 1,475,000,000 | 1,437,000,000 |
Unfunded loan commitments and letters of credit | 217,000,000 | 240,000,000 |
Total liabilities | $1,692,000,000 | $1,677,000,000 |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets (Narrative) (Details) (USD $) | 3 Months Ended | |||
In Millions, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
Finite-Lived Intangible Assets [Line Items] | ||||
Mortgage servicing rights | 1,333 | $1,351 | ||
Customer-Related and Other Intangible Assets [Member] | Minimum [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite Lived Intangible Asset Useful Life | 2 years | |||
Customer-Related and Other Intangible Assets [Member] | Maximum [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite Lived Intangible Asset Useful Life | 10 years | |||
Customer-Related and Other Intangible Assets [Member] | Weighted Average [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite Lived Intangible Asset Useful Life | 6 years | |||
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Mortgage servicing rights | 494 | $506 | $529 | $552 |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets (Goodwill by Business Segment) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Goodwill [Line Items] | ||
Goodwill | $9,103 | $9,103 |
Retail Banking [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 5,795 | 5,795 |
Corporate & Institutional Banking [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 3,244 | 3,244 |
Asset Management Group [Member] | ||
Goodwill [Line Items] | ||
Goodwill | $64 | $64 |
Goodwill_and_Other_Intangible_4
Goodwill and Other Intangible Assets (Mortgage Servicing Rights) (Details) (USD $) | 3 Months Ended | |||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 |
Servicing Assets At Fair Value [Line Items] | ||||
Mortgage servicing rights, beginning balance | $1,351 | |||
Mortgage servicing rights, ending balance | 1,333 | 1,351 | ||
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | ||||
Servicing Assets At Fair Value [Line Items] | ||||
Mortgage servicing rights, beginning balance | 845 | 1,087 | ||
Mortgage servicing rights, ending balance | 839 | 1,039 | 845 | 1,087 |
Unpaid principal balance of loans serviced for others at end of period | 112,932 | 113,573 | ||
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | Time and Payoffs [Member] | ||||
Servicing Assets At Fair Value [Line Items] | ||||
Changes in Fair Value | -39 | -29 | ||
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | Other [Member] | ||||
Servicing Assets At Fair Value [Line Items] | ||||
Changes in Fair Value | -67 | -59 | ||
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | From loans sold with servicing retained [Member] | ||||
Servicing Assets At Fair Value [Line Items] | ||||
Additions | 17 | 23 | ||
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | Purchases [Member] | ||||
Servicing Assets At Fair Value [Line Items] | ||||
Additions | 83 | 17 | ||
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | ||||
Servicing Assets At Fair Value [Line Items] | ||||
Mortgage servicing rights, beginning balance | 506 | 552 | ||
Mortgage servicing rights, ending balance | 494 | 529 | 506 | 552 |
Unpaid principal balance of loans serviced for others at end of period | 143,724 | 144,332 | ||
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | Time and Payoffs [Member] | ||||
Servicing Assets At Fair Value [Line Items] | ||||
Changes in Fair Value | -21 | -23 | ||
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | Other [Member] | ||||
Servicing Assets At Fair Value [Line Items] | ||||
Changes in Fair Value | -16 | -14 | ||
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | From loans sold with servicing retained [Member] | ||||
Servicing Assets At Fair Value [Line Items] | ||||
Additions | 14 | 7 | ||
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | Purchases [Member] | ||||
Servicing Assets At Fair Value [Line Items] | ||||
Additions | $11 | $7 |
Goodwill_and_Other_Intangible_5
Goodwill and Other Intangible Assets (Commercial and Residential Mortgage Loan Servicing Assets - Key Valuation Assumptions) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Impact Of Adverse Change In Assumption [Line Items] | ||||
Fair Value | $1,333 | $1,351 | ||
Servicing Contracts [Member] | Commercial Mortgage [Member] | ||||
Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Impact Of Adverse Change In Assumption [Line Items] | ||||
Fair Value | 494 | 506 | 529 | 552 |
Weighted-average life | 4 years 9 months | 4 years 8 months | ||
Weighted-average constant prepayment rate | 7.51% | 8.03% | ||
Decline in fair value from 10% adverse change in prepayment rate | 10 | 10 | ||
Decline in fair value from 20% adverse change in prepayment rate | 19 | 19 | ||
Effective discount rate | 6.45% | 6.59% | ||
Decline in fair value from 10% adverse change in interest rate | 13 | 13 | ||
Decline in fair value from 20% adverse change in interest rate | 26 | 26 | ||
Servicing Contracts [Member] | Residential Mortgage [Member] | ||||
Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Impact Of Adverse Change In Assumption [Line Items] | ||||
Fair Value | 839 | 845 | 1,039 | 1,087 |
Weighted-average life | 5 years 9 months | 6 years 1 month | ||
Weighted-average constant prepayment rate | 12.41% | 11.16% | ||
Decline in fair value from 10% adverse change in prepayment rate | 40 | 36 | ||
Decline in fair value from 20% adverse change in prepayment rate | 77 | 69 | ||
Weighted-average option adjusted spread | 9.85% | 10.36% | ||
Decline in fair value from 10% adverse change in adjusted spread | 29 | 31 | ||
Decline in fair value from 20% adverse change in adjusted spread | $57 | $61 |
Goodwill_and_Other_Intangible_6
Goodwill and Other Intangible Assets (Fees from Mortgage and Other Loan Servicing) (Details) (Servicing Contracts [Member], USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Servicing Contracts [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Fees from Mortgage and Other Loan Servicing | $121 | $129 |
Goodwill_and_Other_Intangible_7
Goodwill and Other Intangible Assets (Other Intangible Assets) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Goodwill and Other Intangible Assets Disclosure [Abstract] | ||
Intangible Assets, Gross carrying amount | $1,499 | $1,502 |
Accumulated amortization | -1,036 | -1,009 |
Intangible Assets, Net Carrying Amount | $463 | $493 |
Goodwill_and_Other_Intangible_8
Goodwill and Other Intangible Assets (Amortization Expense on Existing Intangible Assets) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Goodwill and Other Intangible Assets Disclosure [Abstract] | ||
Amortization expense | $30 | $33 |
Future amortization expense to be recognized during remainder of 2015 | 84 | |
Future amortization expense to be recognized during 2016 | 97 | |
Future amortization expense to be recognized during 2017 | 83 | |
Future amortization expense to be recognized during 2018 | 72 | |
Future amortization expense to be recognized during 2019 | 61 | |
Future amortization expense to be recognized during 2020 | $37 |
Certain_Employee_Benefit_and_S2
Certain Employee Benefit and Stock Based Compensation Plans (Narrative) (Details) (USD $) | 3 Months Ended | |
Share data in Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based compensation expense | $40,000,000 | $50,000,000 |
Unamortized share-based compensation expense related to nonvested equity compensation arrangements | 285,000,000 | |
Period over which unamortized share-based compensation expense will be amortized. | 5 years 0 months | |
Treasury stock activity (in shares) | 0.7 | |
Aggregate intrinsic value - Nonvested cash-payable incentive/performance units and restricted share units | $72,000,000 | |
Nonvested Cash Payable Restricted Share Units [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Service based vesting period | 3 years 0 months | |
Unamortized compensation expense amortization period | 4 years 0 months |
Certain_Employee_Benefit_and_S3
Certain Employee Benefit and Stock Based Compensation Plans (Net Periodic Pension and Postretirement Benefits Costs) (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Qualified Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | $27,000,000 | $25,000,000 |
Interest cost | 44,000,000 | 47,000,000 |
Expected return on plan assets | -74,000,000 | -72,000,000 |
Amortization of prior service cost/(credit) | -2,000,000 | -2,000,000 |
Amortization of actuarial (gain)/loss | 7,000,000 | |
Net periodic cost/(benefit) | 2,000,000 | -2,000,000 |
Nonqualified Retirement Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 1,000,000 | |
Interest cost | 3,000,000 | 3,000,000 |
Amortization of actuarial (gain)/loss | 2,000,000 | 1,000,000 |
Net periodic cost/(benefit) | 5,000,000 | 5,000,000 |
Postretirement Benefits | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 1,000,000 | 1,000,000 |
Interest cost | 4,000,000 | 4,000,000 |
Net periodic cost/(benefit) | $5,000,000 | $5,000,000 |
Certain_Employee_Benefit_and_S4
Certain Employee Benefit and Stock Based Compensation Plans (Stock Option Rollforward) (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Total Stock Options [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, beginning balance | 7,044,000 |
Exercised | -793,000 |
Cancelled | -13,000 |
Outstanding, ending balance | 6,238,000 |
Exercisable, Shares | 6,190,000 |
Weighted-average exercise price, beginning of period | $82.17 |
Weighted-average exercise price, exercised | $59.76 |
Weighted-average exercise price, cancelled | $189.22 |
Weighted-average exercise price, end of period | $84.78 |
Exercisable, Weighted-average exercise price of shares | $84.95 |
PNC [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, beginning balance | 6,701,000 |
Exercised | -793,000 |
Cancelled | -9,000 |
Outstanding, ending balance | 5,899,000 |
Exercisable, Shares | 5,851,000 |
Weighted-average exercise price, beginning of period | $56.41 |
Weighted-average exercise price, exercised | $59.76 |
Weighted-average exercise price, cancelled | $33.38 |
Weighted-average exercise price, end of period | $55.99 |
Exercisable, Weighted-average exercise price of shares | $55.93 |
PNC Options Converted From National City Options [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, beginning balance | 343,000 |
Cancelled | -4,000 |
Outstanding, ending balance | 339,000 |
Exercisable, Shares | 339,000 |
Weighted-average exercise price, beginning of period | $585.23 |
Weighted-average exercise price, cancelled | $545.29 |
Weighted-average exercise price, end of period | $585.72 |
Exercisable, Weighted-average exercise price of shares | $585.72 |
Certain_Employee_Benefit_and_S5
Certain Employee Benefit and Stock Based Compensation Plans (Nonvested Incentive Performance Unit Share Awards and Restricted Stock Share Unit Awards - Rollforward) (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Nonvested Incentive / Performance Unit Shares [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, Beginning balance | 1,837,000 |
Granted | 649,000 |
Vested/Released | -682,000 |
Forfeited | -21,000 |
Outstanding, Ending balance | 1,783,000 |
Weighted-average grant date fair value, beginning of period | $69.84 |
Weighted-average grant date fair value, granted shares | $90.35 |
Weighted-average grant date fair value, vested/released shares | $66.17 |
Weighted-average grant date fair value, forfeited shares | $68.51 |
Weighted-average grant date fair value, end of period | $78.72 |
Nonvested Restricted Stock / Share Units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, Beginning balance | 3,652,000 |
Granted | 999,000 |
Vested/Released | -1,035,000 |
Forfeited | -30,000 |
Outstanding, Ending balance | 3,586,000 |
Weighted-average grant date fair value, beginning of period | $69.03 |
Weighted-average grant date fair value, granted shares | $92.19 |
Weighted-average grant date fair value, vested/released shares | $60.63 |
Weighted-average grant date fair value, forfeited shares | $74.64 |
Weighted-average grant date fair value, end of period | $77.86 |
Certain_Employee_Benefit_and_S6
Certain Employee Benefit and Stock Based Compensation Plans (Nonvested Cash-Payable Incentive Performance Units and Restricted Share Unit - Rollforward) (Details) | 3 Months Ended |
Mar. 31, 2015 | |
Nonvested Cash-Payable Incentive/Performance Units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, Beginning balance | 177,000 |
Granted | 81,000 |
Vested/Released | -98,000 |
Forfeited | -43,000 |
Outstanding, Ending balance | 117,000 |
Nonvested Cash-Payable Restricted Share Units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, Beginning balance | 658,000 |
Granted | 347,000 |
Vested/Released | -349,000 |
Forfeited | -4,000 |
Outstanding, Ending balance | 652,000 |
Total - Nonvested Cash Payable Incentive/Performance Units and Restricted Share Units | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, Beginning balance | 835,000 |
Granted | 428,000 |
Vested/Released | -447,000 |
Forfeited | -47,000 |
Outstanding, Ending balance | 769,000 |
Financial_Derivatives_Narrativ
Financial Derivatives (Narrative) (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Dec. 31, 2014 | |
Derivative [Line Items] | ||
Cash And Securities Held To Collateralize Net Derivative Assets | $943,000,000 | |
Cash And Securities Pledged To Collateralize Net Derivative Liabilities | 610,000,000 | |
Aggregate fair value of all derivative instruments with credit-risk-related contingent features | 800,000,000 | |
Collateral posted on derivative instruments with credit-risk-related contingent features | 600,000,000 | |
Maximum amount of collateral PNC would have been required to post if the credit-risk-related contingent features underlying these agreements had been triggered | 200,000,000 | |
Risk Participation Agreements Sold [Member] | ||
Derivative [Line Items] | ||
Minimum term of Risk Participation Agreements, years | 1 year | |
Credit Derivative Maximum Exposure Undiscounted | 147,000,000 | 124,000,000 |
Maximum term of Risk Participation Agreements, years | 22 years | |
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Maximum length of time over which forecasted loan cash flows are hedged | 10 years | |
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | Pretax [Member] | ||
Derivative [Line Items] | ||
Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months | 257,000,000 | |
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | After Tax [Member] | ||
Derivative [Line Items] | ||
Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months | 167,000,000 | |
Forward Contracts [Member] | Cash Flow Hedging [Member] | Pretax [Member] | ||
Derivative [Line Items] | ||
Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months | 38,000,000 | |
Forward Contracts [Member] | Cash Flow Hedging [Member] | After Tax [Member] | ||
Derivative [Line Items] | ||
Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months | $25,000,000 | |
Forward Contracts [Member] | Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Maximum length of time over which forecasted loan cash flows are hedged | 0 years 3 months |
Financial_Derivatives_Total_Gr
Financial Derivatives (Total Gross Derivatives) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Derivative [Line Items] | ||
Derivative Asset, Fair Value | $6,253,000,000 | $5,234,000,000 |
Derivative Liability, Fair Value | 4,744,000,000 | 4,027,000,000 |
Derivative Notional Amount | 356,676,000,000 | 340,317,000,000 |
Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 1,531,000,000 | 1,261,000,000 |
Derivative Liability, Fair Value | 198,000,000 | 186,000,000 |
Derivative Notional Amount | 49,475,000,000 | 49,061,000,000 |
Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 4,722,000,000 | 3,973,000,000 |
Derivative Liability, Fair Value | 4,546,000,000 | 3,841,000,000 |
Derivative Notional Amount | $307,201,000,000 | $291,256,000,000 |
Financial_Derivatives_Derivati
Financial Derivatives (Derivatives Designated As Hedging Instruments Under GAAP) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Derivative [Line Items] | ||
Derivative Asset, Fair Value | $6,253,000,000 | $5,234,000,000 |
Derivative Liability, Fair Value | 4,744,000,000 | 4,027,000,000 |
Derivative Notional Amount | 356,676,000,000 | 340,317,000,000 |
Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 1,531,000,000 | 1,261,000,000 |
Derivative Liability, Fair Value | 198,000,000 | 186,000,000 |
Derivative Notional Amount | 49,475,000,000 | 49,061,000,000 |
Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 4,722,000,000 | 3,973,000,000 |
Derivative Liability, Fair Value | 4,546,000,000 | 3,841,000,000 |
Derivative Notional Amount | 307,201,000,000 | 291,256,000,000 |
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 922,000,000 | 830,000,000 |
Derivative Liability, Fair Value | 198,000,000 | 176,000,000 |
Derivative Notional Amount | 25,638,000,000 | 25,163,000,000 |
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Receive Fixed Swaps [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 921,000,000 | 827,000,000 |
Derivative Liability, Fair Value | 38,000,000 | |
Derivative Notional Amount | 21,338,000,000 | 20,930,000,000 |
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Pay Fixed Swaps [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 1,000,000 | 3,000,000 |
Derivative Liability, Fair Value | 198,000,000 | 138,000,000 |
Derivative Notional Amount | 4,300,000,000 | 4,233,000,000 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 549,000,000 | 425,000,000 |
Derivative Liability, Fair Value | 10,000,000 | |
Derivative Notional Amount | 22,754,000,000 | 22,769,000,000 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Receive Fixed Swaps [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 538,000,000 | 400,000,000 |
Derivative Liability, Fair Value | 10,000,000 | |
Derivative Notional Amount | 20,954,000,000 | 19,991,000,000 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Forward Purchase Commitments [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 11,000,000 | 25,000,000 |
Derivative Notional Amount | 1,800,000,000 | 2,778,000,000 |
Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 60,000,000 | 6,000,000 |
Derivative Notional Amount | $1,083,000,000 | $1,129,000,000 |
Financial_Derivatives_Gains_Lo
Financial Derivatives (Gains (Losses) on Derivatives and Related Hedged Items - Fair Value Hedges) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) on Derivatives Recognized in Income | $105 | $3 |
Gain (Loss) on Related Hedged Items Recognized in Income | -118 | -8 |
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contracts [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) on Related Hedged Items Recognized in Income | -13 | -5 |
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contracts [Member] | US Treasury and Government Agencies Securities [Member] | Investment Securities Interest Income [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) on Derivatives Recognized in Income | -51 | -30 |
Gain (Loss) on Related Hedged Items Recognized in Income | 53 | 31 |
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contracts [Member] | Other Debt Securities [Member] | Investment Securities Interest Income [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) on Derivatives Recognized in Income | -1 | 1 |
Gain (Loss) on Related Hedged Items Recognized in Income | 1 | |
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contracts [Member] | Subordinated Debts [Member] | Borrowed Funds Interest Expense [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) on Derivatives Recognized in Income | 54 | 23 |
Gain (Loss) on Related Hedged Items Recognized in Income | -63 | -29 |
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contracts [Member] | Bank Notes And Senior Debt [Member] | Borrowed Funds Interest Expense [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) on Derivatives Recognized in Income | 103 | 9 |
Gain (Loss) on Related Hedged Items Recognized in Income | ($109) | ($10) |
Financial_Derivatives_Gains_Lo1
Financial Derivatives (Gains (Losses) on Derivatives and Related Cash Flows - Cash Flow Hedges) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net unrealized gains (losses) on cash flow hedge derivatives | $239 | ($5) |
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) on Derivatives Recognized in OCI (Effective Portion) | 298 | 72 |
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | 59 | 77 |
Net unrealized gains (losses) on cash flow hedge derivatives | 239 | -5 |
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | Interest Income [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | 68 | 72 |
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | Noninterest Income [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | ($9) | $5 |
Financial_Derivatives_Gains_Lo2
Financial Derivatives (Gains (Losses) on Derivatives - Net Investment Hedges) (Details) (Net Investment Hedging [Member], Foreign Exchange Contract [Member], USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Net Investment Hedging [Member] | Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income, Effective Portion, Net | $54 | ($7) |
Financial_Derivatives_Derivati1
Financial Derivatives (Derivatives Not Designated As Hedging Instruments under GAAP) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Derivative [Line Items] | ||
Derivative Notional Amount | $356,676,000,000 | $340,317,000,000 |
Derivative Asset, Fair Value | 6,253,000,000 | 5,234,000,000 |
Derivative Liability, Fair Value | 4,744,000,000 | 4,027,000,000 |
Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 49,475,000,000 | 49,061,000,000 |
Derivative Asset, Fair Value | 1,531,000,000 | 1,261,000,000 |
Derivative Liability, Fair Value | 198,000,000 | 186,000,000 |
Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 307,201,000,000 | 291,256,000,000 |
Derivative Asset, Fair Value | 4,722,000,000 | 3,973,000,000 |
Derivative Liability, Fair Value | 4,546,000,000 | 3,841,000,000 |
Not Designated as Hedging Instrument [Member] | Residential Mortgages [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 89,210,000,000 | 76,102,000,000 |
Derivative Asset, Fair Value | 1,029,000,000 | 846,000,000 |
Derivative Liability, Fair Value | 598,000,000 | 437,000,000 |
Not Designated as Hedging Instrument [Member] | Residential Mortgages [Member] | Residential Mortgage Servicing Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 80,137,000,000 | 68,976,000,000 |
Derivative Asset, Fair Value | 986,000,000 | 814,000,000 |
Derivative Liability, Fair Value | 583,000,000 | 416,000,000 |
Not Designated as Hedging Instrument [Member] | Residential Mortgages [Member] | Loan Sales Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 9,073,000,000 | 7,126,000,000 |
Derivative Asset, Fair Value | 43,000,000 | 32,000,000 |
Derivative Liability, Fair Value | 15,000,000 | 21,000,000 |
Not Designated as Hedging Instrument [Member] | Commercial Mortgage Banking [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 25,375,000,000 | 26,290,000,000 |
Derivative Asset, Fair Value | 115,000,000 | 85,000,000 |
Derivative Liability, Fair Value | 80,000,000 | 59,000,000 |
Not Designated as Hedging Instrument [Member] | Commercial Mortgage Banking [Member] | Credit Default Swap [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 95,000,000 | 95,000,000 |
Not Designated as Hedging Instrument [Member] | Commercial Mortgage Banking [Member] | Commercial Mortgage Banking Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 25,280,000,000 | 26,195,000,000 |
Derivative Asset, Fair Value | 115,000,000 | 85,000,000 |
Derivative Liability, Fair Value | 80,000,000 | 59,000,000 |
Not Designated as Hedging Instrument [Member] | Customer Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 187,838,000,000 | 183,474,000,000 |
Derivative Asset, Fair Value | 3,484,000,000 | 2,956,000,000 |
Derivative Liability, Fair Value | 3,358,000,000 | 2,834,000,000 |
Not Designated as Hedging Instrument [Member] | Customer Contracts [Member] | Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 11,112,000,000 | 12,547,000,000 |
Derivative Asset, Fair Value | 378,000,000 | 223,000,000 |
Derivative Liability, Fair Value | 387,000,000 | 240,000,000 |
Not Designated as Hedging Instrument [Member] | Customer Contracts [Member] | Risk Participation Agreement [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 5,048,000,000 | 5,124,000,000 |
Derivative Asset, Fair Value | 3,000,000 | 2,000,000 |
Derivative Liability, Fair Value | 5,000,000 | 4,000,000 |
Not Designated as Hedging Instrument [Member] | Customer Contracts [Member] | Customer Related Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 171,678,000,000 | 165,803,000,000 |
Derivative Asset, Fair Value | 3,103,000,000 | 2,731,000,000 |
Derivative Liability, Fair Value | 2,966,000,000 | 2,590,000,000 |
Not Designated as Hedging Instrument [Member] | Other Risk Management Activity [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 4,778,000,000 | 5,390,000,000 |
Derivative Asset, Fair Value | 94,000,000 | 86,000,000 |
Derivative Liability, Fair Value | 510,000,000 | 511,000,000 |
Not Designated as Hedging Instrument [Member] | Other Risk Management Activity [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 95,000,000 | 833,000,000 |
Derivative Asset, Fair Value | 1,000,000 | |
Not Designated as Hedging Instrument [Member] | Other Risk Management Activity [Member] | Credit Default Swap [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 15,000,000 | 15,000,000 |
Not Designated as Hedging Instrument [Member] | Other Risk Management Activity [Member] | Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 2,793,000,000 | 2,661,000,000 |
Derivative Asset, Fair Value | 94,000,000 | 85,000,000 |
Derivative Liability, Fair Value | 2,000,000 | 1,000,000 |
Not Designated as Hedging Instrument [Member] | Other Risk Management Activity [Member] | Other Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 1,875,000,000 | 1,881,000,000 |
Derivative Liability, Fair Value | 508,000,000 | 510,000,000 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Residential Mortgage Servicing Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 32,765,000,000 | 32,459,000,000 |
Derivative Asset, Fair Value | 935,000,000 | 777,000,000 |
Derivative Liability, Fair Value | 548,000,000 | 394,000,000 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Commercial Mortgage Banking Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 3,818,000,000 | 3,801,000,000 |
Derivative Asset, Fair Value | 96,000,000 | 67,000,000 |
Derivative Liability, Fair Value | 65,000,000 | 48,000,000 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Customer Related Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 149,714,000,000 | 146,008,000,000 |
Derivative Asset, Fair Value | 2,972,000,000 | 2,632,000,000 |
Derivative Liability, Fair Value | 2,931,000,000 | 2,559,000,000 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swaption [Member] | Residential Mortgage Servicing Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 2,698,000,000 | 1,498,000,000 |
Derivative Asset, Fair Value | 41,000,000 | 29,000,000 |
Derivative Liability, Fair Value | 31,000,000 | 22,000,000 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swaption [Member] | Commercial Mortgage Banking Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 439,000,000 | 439,000,000 |
Derivative Asset, Fair Value | 1,000,000 | 2,000,000 |
Derivative Liability, Fair Value | 1,000,000 | 1,000,000 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swaption [Member] | Customer Related Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 4,355,000,000 | 3,361,000,000 |
Derivative Asset, Fair Value | 92,000,000 | 62,000,000 |
Derivative Liability, Fair Value | 13,000,000 | 12,000,000 |
Not Designated as Hedging Instrument [Member] | Future [Member] | Residential Mortgage Servicing Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 21,164,000,000 | 22,084,000,000 |
Not Designated as Hedging Instrument [Member] | Future [Member] | Loan Sales Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 28,000,000 | 58,000,000 |
Not Designated as Hedging Instrument [Member] | Future [Member] | Commercial Mortgage Banking Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 18,904,000,000 | 19,913,000,000 |
Not Designated as Hedging Instrument [Member] | Future [Member] | Customer Related Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 2,655,000,000 | 3,112,000,000 |
Not Designated as Hedging Instrument [Member] | Future Options [Member] | Residential Mortgage Servicing Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 22,000,000,000 | 12,225,000,000 |
Derivative Asset, Fair Value | 6,000,000 | 4,000,000 |
Derivative Liability, Fair Value | 3,000,000 | |
Not Designated as Hedging Instrument [Member] | Residential Mortgage Loan Commitment [Member] | Loan Sales Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 2,405,000,000 | 1,852,000,000 |
Derivative Asset, Fair Value | 31,000,000 | 22,000,000 |
Not Designated as Hedging Instrument [Member] | Commercial Mortgage Loan Commitment [Member] | Commercial Mortgage Banking Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 2,119,000,000 | 2,042,000,000 |
Derivative Asset, Fair Value | 18,000,000 | 16,000,000 |
Derivative Liability, Fair Value | 14,000,000 | 10,000,000 |
Not Designated as Hedging Instrument [Member] | Bond Option [Member] | Loan Sales Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 400,000,000 | 300,000,000 |
Derivative Asset, Fair Value | 2,000,000 | |
Not Designated as Hedging Instrument [Member] | Caps Floors Sold [Member] | Customer Related Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 5,255,000,000 | 4,846,000,000 |
Derivative Liability, Fair Value | 14,000,000 | 16,000,000 |
Not Designated as Hedging Instrument [Member] | Caps Floors Purchased [Member] | Customer Related Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 6,765,000,000 | 6,339,000,000 |
Derivative Asset, Fair Value | 32,000,000 | 34,000,000 |
Not Designated as Hedging Instrument [Member] | Mortgage Backed Securities Commitments [Member] | Residential Mortgage Servicing Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 1,510,000,000 | 710,000,000 |
Derivative Asset, Fair Value | 4,000,000 | 4,000,000 |
Derivative Liability, Fair Value | 1,000,000 | |
Not Designated as Hedging Instrument [Member] | Mortgage Backed Securities Commitments [Member] | Loan Sales Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 6,240,000,000 | 4,916,000,000 |
Derivative Asset, Fair Value | 10,000,000 | 10,000,000 |
Derivative Liability, Fair Value | 15,000,000 | 21,000,000 |
Not Designated as Hedging Instrument [Member] | Mortgage Backed Securities Commitments [Member] | Customer Related Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 2,934,000,000 | 2,137,000,000 |
Derivative Asset, Fair Value | 7,000,000 | 3,000,000 |
Derivative Liability, Fair Value | $8,000,000 | $3,000,000 |
Financial_Derivatives_Gains_Lo3
Financial Derivatives (Gains (Losses) on Derivatives Not Designated As Hedging Instruments under GAAP) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Derivative [Line Items] | ||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | $329 | $86 |
Residential Mortgages [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 119 | 54 |
Residential Mortgages [Member] | Residential Mortgage Servicing Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 98 | 53 |
Residential Mortgages [Member] | Loan Sales Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 21 | 1 |
Commercial Mortgage Banking [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 29 | 20 |
Commercial Mortgage Banking [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 30 | 20 |
Commercial Mortgage Banking [Member] | Credit Default Swap [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | -1 | |
Customer Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 5 | 24 |
Customer Contracts [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 4 | -1 |
Customer Contracts [Member] | Credit Default Swap [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 1 | |
Customer Contracts [Member] | Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 1 | 24 |
Other Risk Management Activity [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 176 | -12 |
Other Risk Management Activity [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | -4 | |
Other Risk Management Activity [Member] | Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 183 | |
Other Risk Management Activity [Member] | Other Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | ($7) | ($8) |
Financial_Derivatives_Credit_D
Financial Derivatives (Credit Default Swaps) (Details) (Credit Default Swap, Buying Protection [Member], USD $) | 3 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Credit Derivatives [Line Items] | ||
Notional Amount | $110 | $110 |
Average term of credit risk derivatives | 21 years 0 months | 21 years 4 months |
Underlying Other Beneficiary Single Name [Member] | ||
Credit Derivatives [Line Items] | ||
Notional Amount | 50 | 50 |
Average term of credit risk derivatives | 5 years 6 months | 5 years 8 months |
Underlying Other Beneficiary Index Traded [Member] | ||
Credit Derivatives [Line Items] | ||
Notional Amount | $60 | $60 |
Average term of credit risk derivatives | 34 years 0 months | 34 years 2 months |
Financial_Derivatives_Credit_R
Financial Derivatives (Credit Ratings of Credit Default Swaps) (Details) (Credit Default Swap, Buying Protection [Member], USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Credit Derivatives [Line Items] | ||
Notional Amount | $110 | $110 |
External Credit Rating, Investment Grade [Member] | ||
Credit Derivatives [Line Items] | ||
Notional Amount | 95 | 95 |
External Credit Rating, Non Investment Grade [Member] | ||
Credit Derivatives [Line Items] | ||
Notional Amount | $15 | $15 |
Financial_Derivatives_Referenc
Financial Derivatives (Referenced/Underlying Assets of Credit Default Swaps) (Details) (Credit Default Swap, Buying Protection [Member]) | Mar. 31, 2015 | Dec. 31, 2014 |
Corporation Debt [Member] | ||
Credit Derivatives [Line Items] | ||
Credit Default Swaps Underlying Asset Liability Allocation | 45.00% | 45.00% |
Commercial Mortgage Backed Securities [Member] | ||
Credit Derivatives [Line Items] | ||
Credit Default Swaps Underlying Asset Liability Allocation | 55.00% | 55.00% |
Financial_Derivatives_Risk_Par
Financial Derivatives (Risk Participation Agreements Sold) (Details) (Risk Participation Agreements Sold [Member], USD $) | 3 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Risk Participation Agreements Sold [Member] | ||
Credit Derivatives [Line Items] | ||
Notional Amount | $2,626 | $2,796 |
Fair Value | ($5) | ($4) |
Average term of credit risk derivatives | 5 years 2 months | 5 years 5 months |
Financial_Derivatives_Derivati2
Financial Derivatives (Derivative Assets and Liabilitites Offsetting) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Offsetting Assets [Line Items] | ||
Derivative Asset, Gross Fair Value | $6,253,000,000 | $5,234,000,000 |
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 4,744,000,000 | 4,027,000,000 |
Liability [Member] | ||
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 4,744,000,000 | 4,027,000,000 |
Derivative Liability, Fair Value Offset Amount | 2,312,000,000 | 2,141,000,000 |
Derivative Liability, Cash Collateral | 562,000,000 | 503,000,000 |
Derivative Liability, Net Fair Value | 1,870,000,000 | 1,383,000,000 |
Derivative Liability, Net | 1,870,000,000 | 1,383,000,000 |
Exchange Cleared [Member] | ||
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 1,000,000,000 | 657,000,000 |
Assets [Member] | ||
Offsetting Assets [Line Items] | ||
Derivative Asset, Gross Fair Value | 6,253,000,000 | 5,234,000,000 |
Derivative Asset, Fair Value Offset Amount | 2,312,000,000 | 2,141,000,000 |
Derivative Asset, Cash Collateral | 582,000,000 | 506,000,000 |
Derivative Asset, Net Fair Value | 3,359,000,000 | 2,587,000,000 |
Derivative Asset, Securities Collateral Held Under Master Netting Agreements | 223,000,000 | 144,000,000 |
Derivative Asset, Net | 3,136,000,000 | 2,443,000,000 |
Exchange Cleared [Member] | ||
Offsetting Assets [Line Items] | ||
Derivative Asset, Gross Fair Value | 1,200,000,000 | 807,000,000 |
Interest Rate Contracts [Member] | Liability [Member] | ||
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 3,842,000,000 | 3,272,000,000 |
Derivative Liability, Fair Value Offset Amount | 2,200,000,000 | 2,057,000,000 |
Derivative Liability, Cash Collateral | 540,000,000 | 483,000,000 |
Derivative Liability, Net Fair Value | 1,102,000,000 | 732,000,000 |
Derivative Liability, Net | 1,102,000,000 | 732,000,000 |
Interest Rate Contracts [Member] | Assets [Member] | ||
Offsetting Assets [Line Items] | ||
Derivative Asset, Gross Fair Value | 5,718,000,000 | 4,918,000,000 |
Derivative Asset, Fair Value Offset Amount | 2,022,000,000 | 1,981,000,000 |
Derivative Asset, Cash Collateral | 493,000,000 | 458,000,000 |
Derivative Asset, Net Fair Value | 3,203,000,000 | 2,479,000,000 |
Derivative Asset, Securities Collateral Held Under Master Netting Agreements | 215,000,000 | 143,000,000 |
Derivative Asset, Net | 2,988,000,000 | 2,336,000,000 |
Foreign Exchange Contract [Member] | Liability [Member] | ||
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 389,000,000 | 241,000,000 |
Derivative Liability, Fair Value Offset Amount | 108,000,000 | 80,000,000 |
Derivative Liability, Cash Collateral | 21,000,000 | 20,000,000 |
Derivative Liability, Net Fair Value | 260,000,000 | 141,000,000 |
Derivative Liability, Net | 260,000,000 | 141,000,000 |
Foreign Exchange Contract [Member] | Assets [Member] | ||
Offsetting Assets [Line Items] | ||
Derivative Asset, Gross Fair Value | 532,000,000 | 314,000,000 |
Derivative Asset, Fair Value Offset Amount | 289,000,000 | 159,000,000 |
Derivative Asset, Cash Collateral | 88,000,000 | 47,000,000 |
Derivative Asset, Net Fair Value | 155,000,000 | 108,000,000 |
Derivative Asset, Securities Collateral Held Under Master Netting Agreements | 8,000,000 | 1,000,000 |
Derivative Asset, Net | 147,000,000 | 107,000,000 |
Credit Risk Contract [Member] | Liability [Member] | ||
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 5,000,000 | 4,000,000 |
Derivative Liability, Fair Value Offset Amount | 4,000,000 | 4,000,000 |
Derivative Liability, Cash Collateral | 1,000,000 | |
Credit Risk Contract [Member] | Assets [Member] | ||
Offsetting Assets [Line Items] | ||
Derivative Asset, Gross Fair Value | 3,000,000 | 2,000,000 |
Derivative Asset, Fair Value Offset Amount | 1,000,000 | 1,000,000 |
Derivative Asset, Cash Collateral | 1,000,000 | 1,000,000 |
Derivative Asset, Net Fair Value | 1,000,000 | |
Derivative Asset, Net | 1,000,000 | |
Other Contract [Member] | Liability [Member] | ||
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 508,000,000 | 510,000,000 |
Derivative Liability, Net Fair Value | 508,000,000 | 510,000,000 |
Derivative Liability, Net | $508,000,000 | $510,000,000 |
Earnings_per_Share_Details
Earnings per Share (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Earnings Per Share Basic and Diluted [Line Items] | ||
Net income | $1,004,000,000 | $1,060,000,000 |
Net income (loss) attributable to noncontrolling interests | 1,000,000 | -2,000,000 |
Preferred stock dividends and discount accretion and redemptions | 70,000,000 | 70,000,000 |
Net income attributable to common shares | 933,000,000 | 992,000,000 |
Dividends and undistributed earnings allocated to nonvested restricted shares | 2,000,000 | 3,000,000 |
Net income attributable to basic common shares | 931,000,000 | 989,000,000 |
Less: Impact of BlackRock earnings per share dilution | 5,000,000 | 6,000,000 |
Net income attributable to diluted common shares | $926,000,000 | $983,000,000 |
Basic weighted-average common shares outstanding | 521,000,000 | 532,000,000 |
Basic earnings per common share (a) | $1.79 | $1.86 |
Dilutive potential common shares (b) (c) | 8,000,000 | 7,000,000 |
Diluted weighted-average common shares outstanding | 529,000,000 | 539,000,000 |
Diluted earnings per common share (a) | $1.75 | $1.82 |
Stock Option [Member] | ||
Earnings Per Share Basic and Diluted [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share amount | 0 | 1,000,000 |
Warrant [Member] | ||
Earnings Per Share Basic and Diluted [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share amount | 0 |
Total_Equity_and_Other_Compreh2
Total Equity and Other Comprehensive Income (Rollforward of Total Equity) (Details) (USD $) | 3 Months Ended | ||
Share data in Millions, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2013 |
Common Stock [Abstract] | |||
Common Stock, Beginning Balance | $2,705,000,000 | ||
Capital surplus - Preferred Stock, Beginning Balance | 3,946,000,000 | ||
Capital surplus - Common Stock, Beginning Balance | 12,627,000,000 | ||
Retained Earnings, Beginning Balance | 26,200,000,000 | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | 503,000,000 | ||
Treasury Stock, Beginning Balance | -1,430,000,000 | ||
Noncontrolling interests, Beginning Balance | 1,523,000,000 | ||
Total Equity, Beginning Balance | 46,074,000,000 | 44,037,000,000 | |
Net income | 1,004,000,000 | 1,060,000,000 | |
Other comprehensive income (loss), net of tax | 200,000,000 | 220,000,000 | |
Cash dividends declared [Abstract] | |||
Common | -251,000,000 | -235,000,000 | |
Preferred | -68,000,000 | -68,000,000 | |
Common stock activity | 9,000,000 | 30,000,000 | |
Treasury stock activity | -363,000,000 | 33,000,000 | |
Other | -167,000,000 | -161,000,000 | |
Common Stock, Ending Balance | 2,706,000,000 | ||
Capital surplus - Preferred Stock, Ending Balance | 3,948,000,000 | ||
Capital surplus - Common Stock, Ending Balance | 12,561,000,000 | ||
Retained Earnings, Ending Balance | 26,882,000,000 | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | 703,000,000 | ||
Treasury Stock, Ending Balance | -1,775,000,000 | ||
Noncontrolling interests, Ending Balance | 1,413,000,000 | ||
Total Equity, Ending Balance | 46,438,000,000 | 44,918,000,000 | |
Cumulative effect of adopting ASC 860-50 [Member] | |||
Common Stock [Abstract] | |||
Total Equity, Beginning Balance | 44,039,000,000 | ||
Cash dividends declared [Abstract] | |||
Total Equity, Ending Balance | 44,039,000,000 | ||
Cumulative effect adjustment | 2,000,000 | ||
Common Stock [Member] | |||
Common Stock [Abstract] | |||
Beginning Balance (in shares) | 523 | 533 | |
Treasury stock activity, shares | -3 | 1 | |
Ending Balance, (in shares) | 520 | 534 | |
Common Stock, Beginning Balance | 2,705,000,000 | 2,698,000,000 | |
Cash dividends declared [Abstract] | |||
Common stock activity | 1,000,000 | 2,000,000 | |
Common Stock, Ending Balance | 2,706,000,000 | 2,700,000,000 | |
Common Stock Per Share Dividends Declared | $0.48 | $0.44 | |
Common Stock [Member] | Cumulative effect of adopting ASC 860-50 [Member] | |||
Common Stock [Abstract] | |||
Beginning Balance (in shares) | 533 | ||
Ending Balance, (in shares) | 533 | ||
Common Stock, Beginning Balance | 2,698,000,000 | ||
Cash dividends declared [Abstract] | |||
Common Stock, Ending Balance | 2,698,000,000 | ||
Preferred Stock Including Additional Paid in Capital [Member] | |||
Common Stock [Abstract] | |||
Capital surplus - Preferred Stock, Beginning Balance | 3,946,000,000 | 3,941,000,000 | |
Cash dividends declared [Abstract] | |||
Preferred stock discount accretion | 2,000,000 | 2,000,000 | |
Capital surplus - Preferred Stock, Ending Balance | 3,948,000,000 | 3,943,000,000 | |
Preferred Stock Including Additional Paid in Capital [Member] | Cumulative effect of adopting ASC 860-50 [Member] | |||
Common Stock [Abstract] | |||
Capital surplus - Preferred Stock, Beginning Balance | 3,941,000,000 | ||
Cash dividends declared [Abstract] | |||
Capital surplus - Preferred Stock, Ending Balance | 3,941,000,000 | ||
Common Stock Including Additional Paid in Capital [Member] | |||
Common Stock [Abstract] | |||
Capital surplus - Common Stock, Beginning Balance | 12,627,000,000 | 12,416,000,000 | |
Cash dividends declared [Abstract] | |||
Common stock activity | 8,000,000 | 28,000,000 | |
Treasury stock activity | -18,000,000 | 7,000,000 | |
Other | -56,000,000 | -57,000,000 | |
Capital surplus - Common Stock, Ending Balance | 12,561,000,000 | 12,394,000,000 | |
Common Stock Including Additional Paid in Capital [Member] | Cumulative effect of adopting ASC 860-50 [Member] | |||
Common Stock [Abstract] | |||
Capital surplus - Common Stock, Beginning Balance | 12,416,000,000 | ||
Cash dividends declared [Abstract] | |||
Capital surplus - Common Stock, Ending Balance | 12,416,000,000 | ||
Retained Earnings [Member] | |||
Common Stock [Abstract] | |||
Retained Earnings, Beginning Balance | 26,200,000,000 | 23,251,000,000 | |
Net income | 1,003,000,000 | 1,062,000,000 | |
Cash dividends declared [Abstract] | |||
Common | -251,000,000 | -235,000,000 | |
Preferred | -68,000,000 | -68,000,000 | |
Preferred stock discount accretion | -2,000,000 | -2,000,000 | |
Retained Earnings, Ending Balance | 26,882,000,000 | 24,010,000,000 | |
Retained Earnings [Member] | Cumulative effect of adopting ASC 860-50 [Member] | |||
Common Stock [Abstract] | |||
Retained Earnings, Beginning Balance | 23,253,000,000 | ||
Cash dividends declared [Abstract] | |||
Retained Earnings, Ending Balance | 23,253,000,000 | ||
Cumulative effect adjustment | 2,000,000 | ||
Accumulated Other Comprehensive Income (Loss) [Member] | |||
Common Stock [Abstract] | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | 503,000,000 | 436,000,000 | |
Other comprehensive income (loss), net of tax | 200,000,000 | 220,000,000 | |
Cash dividends declared [Abstract] | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | 703,000,000 | 656,000,000 | |
Accumulated Other Comprehensive Income (Loss) [Member] | Cumulative effect of adopting ASC 860-50 [Member] | |||
Common Stock [Abstract] | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | 436,000,000 | ||
Cash dividends declared [Abstract] | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | 436,000,000 | ||
Treasury Stock [Member] | |||
Common Stock [Abstract] | |||
Treasury Stock, Beginning Balance | -1,430,000,000 | -408,000,000 | |
Cash dividends declared [Abstract] | |||
Treasury stock activity | -345,000,000 | 26,000,000 | |
Treasury Stock, Ending Balance | -1,775,000,000 | -382,000,000 | |
Treasury Stock [Member] | Cumulative effect of adopting ASC 860-50 [Member] | |||
Common Stock [Abstract] | |||
Treasury Stock, Beginning Balance | -408,000,000 | ||
Cash dividends declared [Abstract] | |||
Treasury Stock, Ending Balance | -408,000,000 | ||
Noncontrolling Interest [Member] | |||
Common Stock [Abstract] | |||
Noncontrolling interests, Beginning Balance | 1,523,000,000 | 1,703,000,000 | |
Net income | 1,000,000 | -2,000,000 | |
Cash dividends declared [Abstract] | |||
Other | -111,000,000 | -104,000,000 | |
Noncontrolling interests, Ending Balance | 1,413,000,000 | 1,597,000,000 | |
Noncontrolling Interest [Member] | Cumulative effect of adopting ASC 860-50 [Member] | |||
Common Stock [Abstract] | |||
Noncontrolling interests, Beginning Balance | 1,703,000,000 | ||
Cash dividends declared [Abstract] | |||
Noncontrolling interests, Ending Balance | $1,703,000,000 |
Total_Equity_and_Other_Compreh3
Total Equity and Other Comprehensive Income (Other Comprehensive Income) (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Net Unrealized Gains Losses on Non Otti Securities [Abstract] | ||
Net unrealized gains (losses) on non-OTTI securities, pretax, Beginning Balance | $1,022,000,000 | $647,000,000 |
Net unrealized gains (losses) on non-OTTI securities, tax, Beginning Balance | -375,000,000 | -238,000,000 |
Net unrealized gains (losses) on non-OTTI securities, after-tax, Beginning Balance | 647,000,000 | 409,000,000 |
Increase in net unrealized gains (losses) on non-OTTI securities, Pretax | 132,000,000 | 201,000,000 |
Increase in net unrealized gains (losses) on non-OTTI securities, Tax | -49,000,000 | -74,000,000 |
Increase in net unrealized gains (losses) on non-OTTI securities, After tax | 83,000,000 | 127,000,000 |
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities in interest income, before tax | 7,000,000 | 7,000,000 |
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities in interest income, tax | -3,000,000 | -3,000,000 |
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities in interest income, after tax | 4,000,000 | 4,000,000 |
Less: Net gains (losses) realized on sales of non-OTTI securities reclassified to noninterest income, before tax | 51,000,000 | 5,000,000 |
Less: Net gains (losses) realized on sales of non-OTTI securities reclassified to noninterest income, tax | -19,000,000 | -2,000,000 |
Less: Net gains (losses) realized on sales of non-OTTI securities reclassified to noninterest income, after tax | 32,000,000 | 3,000,000 |
Net unrealized gains (losses) on non-OTTI securities | 74,000,000 | 189,000,000 |
Net unrealized gains (losses) on non-OTTI securities, Activity, Tax | -27,000,000 | -69,000,000 |
Net unrealized gains (losses) on non-OTTI securities, Activity, After Tax | 47,000,000 | 120,000,000 |
Net unrealized gains (losses) on non-OTTI securities, pretax, Ending Balance | 1,096,000,000 | 836,000,000 |
Net unrealized gains (losses) on non-OTTI securities, tax, Ending Balance | -402,000,000 | -307,000,000 |
Net unrealized gains (losses) on non-OTTI securities, after-tax, Ending Balance | 694,000,000 | 529,000,000 |
Net Unrealized Gains Losses on Otti Securities [Abstract] | ||
Net unrealized gains (losses) on OTTI securities, before tax, Beginning Balance | 115,000,000 | 36,000,000 |
Net unrealized gains (losses) on OTTI securities, tax, Beginning Balance | -41,000,000 | -12,000,000 |
Net unrealized gains (losses) on OTTI securities, after tax, Beginning Balance | 74,000,000 | 24,000,000 |
Increase in net unrealized gains (losses) on OTTI securities, Pretax | 2,000,000 | 64,000,000 |
Increase in net unrealized gains (losses) on OTTI securities, Tax | -1,000,000 | -24,000,000 |
Increase in net unrealized gains (losses) on OTTI securities, After tax | 1,000,000 | 40,000,000 |
Net other-than-temporary impairments | -1,000,000 | -2,000,000 |
Less: Net OTTI losses realized in net income, Tax | 1,000,000 | |
Less: Other OTTI losses realized in net income, After-tax | -1,000,000 | -1,000,000 |
Net unrealized gains (losses) on OTTI securities, Activity, Before Tax | 3,000,000 | 66,000,000 |
Net unrealized gains (losses) on OTTI securities, Activity, Tax | -1,000,000 | -25,000,000 |
Net unrealized gains (losses) on OTTI securities, Activity, After Tax | 2,000,000 | 41,000,000 |
Net unrealized gains (losses) on OTTI securities, before tax, Ending Balance | 118,000,000 | 102,000,000 |
Net unrealized gains (losses) on OTTI securities, tax, Ending Balance | -42,000,000 | -37,000,000 |
Net unrealized gains (losses) on OTTI securities, after tax, Ending Balance | 76,000,000 | 65,000,000 |
Net unrealized gains (losses) on cash flow hedge derivatives [Abstract] | ||
Net unrealized gains (losses) on cash flow hedge derivatives, before tax, Beginning Balance | 552,000,000 | 384,000,000 |
Net unrealized gains (losses) on cash flow hedge derivatives, tax, Beginning balance | -202,000,000 | -141,000,000 |
Net unrealized gains (losses) on cash flow hedge derivatives, after-tax, Beginning balance | 350,000,000 | 243,000,000 |
Increase in net unrealized gains (losses) on cash flow hedge derivatives, Pretax | 298,000,000 | 72,000,000 |
Increase in net unrealized gains (losses) on cash flow hedge derivatives, Tax | -110,000,000 | -26,000,000 |
Increase in net unrealized gains (losses) on cash flow hedge derivatives, After tax | 188,000,000 | 46,000,000 |
Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income, Before Tax | 64,000,000 | 69,000,000 |
Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income, Tax | -23,000,000 | -25,000,000 |
Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income, After Tax | 41,000,000 | 44,000,000 |
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income, Before Tax | 4,000,000 | 3,000,000 |
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income, Tax | -2,000,000 | -1,000,000 |
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income, After Tax | 2,000,000 | 2,000,000 |
Less: Net gains (losses) realized on sales of securities reclassified to noninterest income, Before Tax | -9,000,000 | 5,000,000 |
Less: Net gains (losses) realized on sales of securities reclassified to noninterest income, Tax | 3,000,000 | -2,000,000 |
Less: Net gains (losses) realized on sales of securities reclassified to noninterest income, After Tax | -6,000,000 | 3,000,000 |
Net unrealized gains (losses) on cash flow hedge derivatives, Before Tax | 239,000,000 | -5,000,000 |
Net unrealized gains (losses) on cash flow hedge derivatives, tax | -88,000,000 | 2,000,000 |
Net unrealized gains (losses) on cash flow hedge derivatives, Net of tax, Total | 151,000,000 | -3,000,000 |
Net unrealized gains (losses) on cash flow hedge derivatives, before tax, Ending Balance | 791,000,000 | 379,000,000 |
Net unrealized gains (losses) on cash flow hedge derivatives Ending balance, tax | -290,000,000 | -139,000,000 |
Net unrealized gains (losses) on cash flow hedge derivatives, after-tax, Ending balance | 501,000,000 | 240,000,000 |
Pension and other postretirement benefit plan adjustments [Abstract] | ||
Pension and other postretirement benefit plan adjustments, before tax, Beginning Balance | -820,000,000 | -374,000,000 |
Pension and other postretirement benefit plan adjustments, tax, Beginning Balance | 300,000,000 | 137,000,000 |
Pension and other postretirement benefit plan adjustments, after tax, Beginning Balance | -520,000,000 | -237,000,000 |
Net pension and other postretirement benefit plan activity, Before tax | 53,000,000 | 83,000,000 |
Net pension and other postretirement benefit plan activity, Tax | -20,000,000 | -31,000,000 |
Net pension and other postretirement benefit plan activity, After tax | 33,000,000 | 52,000,000 |
Amortization of actuarial loss (gain) reclassified to other noninterest expense, Before tax | 9,000,000 | 1,000,000 |
Amortization of actuarial loss (gain) reclassified to other noninterest expense, Tax | -3,000,000 | |
Amortization of actuarial loss (gain) reclassified to other noninterest expense, After tax | 6,000,000 | 1,000,000 |
Amortization of prior service cost (credit) reclassified to other noninterest expense, Before tax | -2,000,000 | -2,000,000 |
Amortization of prior service cost (credit) reclassified to other noninterest expense, Tax | 1,000,000 | 1,000,000 |
Amortization of prior service cost (credit) reclassified to other noninterest expense, After tax | -1,000,000 | -1,000,000 |
Pension and other postretirement benefit plan adjustments, net activity, Before tax | 60,000,000 | 82,000,000 |
Pension and other postretirement benefit plan adjustments, net activity, Tax | -22,000,000 | -30,000,000 |
Pension and other postretirement benefit plan adjustments, net activity, After Tax | 38,000,000 | 52,000,000 |
Pension and other postretirement benefit plan adjustments, before tax, Ending Balance | -760,000,000 | -292,000,000 |
Pension and other postretirement benefit plan adjustments Ending balance, tax | 278,000,000 | 107,000,000 |
Pension and other postretirement benefit plan adjustments, after tax, Ending Balance | -482,000,000 | -185,000,000 |
Other Comprehensive Income Other Adjustments [Abstract] | ||
Other, pretax, Beginning Balance | -59,000,000 | -20,000,000 |
Other, tax, Beginning Balance | 11,000,000 | 17,000,000 |
Other, after tax, Beginning balance | -48,000,000 | -3,000,000 |
PNC's portion of BlackRock's OCI, Before tax | -25,000,000 | 11,000,000 |
PNC's portion of BlackRock's OCI, Tax | 9,000,000 | -4,000,000 |
PNC's portion of BlackRock's OCI, After tax | -16,000,000 | 7,000,000 |
Net investment hedge derivatives, Before tax | 54,000,000 | -7,000,000 |
Net investment hedge derivatives, Tax | -20,000,000 | 3,000,000 |
Net investment hedge derivatives, After tax | 34,000,000 | -4,000,000 |
Foreign Currency Transaction and Translation Adjustment, before Tax | -56,000,000 | 7,000,000 |
Foreign Currency Transaction and Translation Adjustment, Net of Tax, Total | -56,000,000 | 7,000,000 |
Total Other, net activity, Before tax | -27,000,000 | 11,000,000 |
Total Other, net activity, Tax | -11,000,000 | -1,000,000 |
Total Other, net activity, After tax | -38,000,000 | 10,000,000 |
Other, pretax, Ending Balance | -86,000,000 | -9,000,000 |
Other, tax, Ending Balance | 16,000,000 | |
Other, after tax, Ending balance | ($86,000,000) | $7,000,000 |
Total_Equity_and_Other_Compreh4
Total Equity and Other Comprehensive Income (Accumulated Other Comprehensive Income (Loss) Components) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
Other Comprehensive Income [Abstract] | ||||
Net unrealized gains (losses) on non-OTTI securities, pretax | $1,096,000,000 | $1,022,000,000 | $836,000,000 | $647,000,000 |
Net unrealized gains (losses) on non-OTTI securities, after-tax | 694,000,000 | 647,000,000 | 529,000,000 | 409,000,000 |
Net unrealized gains (losses) on OTTI securities, before tax | 118,000,000 | 115,000,000 | 102,000,000 | 36,000,000 |
Net unrealized gains (losses) on OTTI securities, after tax | 76,000,000 | 74,000,000 | 65,000,000 | 24,000,000 |
Net unrealized gains (losses) on cash flow hedge derivatives, before tax | 791,000,000 | 552,000,000 | 379,000,000 | 384,000,000 |
Net unrealized gains (losses) on cash flow hedge derivatives, after-tax | 501,000,000 | 350,000,000 | 240,000,000 | 243,000,000 |
Pension and other postretirement benefit plan adjustments, before tax | -760,000,000 | -820,000,000 | -292,000,000 | -374,000,000 |
Pension and other postretirement benefit plan adjustments, after-tax | -482,000,000 | -520,000,000 | -185,000,000 | -237,000,000 |
Other, pretax | -86,000,000 | -59,000,000 | -9,000,000 | -20,000,000 |
Other, after tax | -86,000,000 | -48,000,000 | 7,000,000 | -3,000,000 |
Accumulated other comprehensive income (loss), pretax | 1,159,000,000 | 810,000,000 | ||
Accumulated other comprehensive income (loss), after-tax | $703,000,000 | $503,000,000 |
Total_Equity_and_Other_Compreh5
Total Equity and Other Comprehensive Income (Narrative) (Details) (TARP Warrant [Member], USD $) | 3 Months Ended | |
Mar. 31, 2015 | Dec. 31, 2014 | |
Number of warrants or rights outstanding | 15,796,592 | 16,885,192 |
Exercise price per share of warrants or rights outstanding | $67.33 | |
Class Of Warrant Or Right Exercised | 1,088,600 | |
Shares Issued To Exercising Warrant Holders [Member] | ||
Class Of Warrant Or Right Shares Issued | 316,897 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Dec. 31, 2014 | |
Operating Loss Carryforwards [Line Items] | ||
Unrecognized tax benefits that would favorably impact the effective tax rate | $68,000,000 | |
Estimated change in balance of unrecognized tax benefits, within the next twelve months | -58,000,000 | |
Unrecognized tax benefits | 83,000,000 | 77,000,000 |
Cumulative effect of adopting ASU 2014-01 [Member] | Low Income Housing Tax Credit Investments [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Amortization recognized for low income housing tax credits associated with adoption of ASU 2014-01 | 51,000,000 | |
Tax credits recognized for low income housing tax credits associated with adoption of ASU 2014-01 | 55,000,000 | |
Other tax benefits recognized for low income housing tax credits associated with adoption of ASU 2014-01 | 19,000,000 | |
National City Acquisition [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Certain Tax Examination Adjustments Under Review Earliest Year | 2004 | |
Certain Tax Examination Adjustments Under Review Latest Year | 2008 | |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Net Operating Loss Carryforwards | 2,536,000,000 | 2,594,000,000 |
Tax Credit Carryforward Valuation Allowance | 65,000,000 | |
Operating Loss Carryforwards Earliest Expiration Date | 2015 | |
Operating Loss Carryforwards Latest Expiration Date | 2031 | |
Reduction of state net operating losses | 60,000,000 | |
Internal Revenue Service (IRS) [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Net Operating Loss Carryforwards | $977,000,000 | $997,000,000 |
Operating Loss Carryforwards Expiration Date | 31-Dec-32 | |
Tax Credit Carryforward Expiration Date | 31-Dec-32 | |
Income Tax Examination Earliest Year Under Examination | 2011 | |
Income Tax Examination Latest Year Under Examination | 2013 |
Income_Taxes_Net_Operating_Los
Income Taxes (Net Operating Loss Carryforwards and Tax Credit Carryforwards) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Internal Revenue Service (IRS) [Member] | ||
Net Operating Loss Carryforwards | $977,000,000 | $997,000,000 |
Tax Credit Carryforward | 35,000,000 | 35,000,000 |
State and Local Jurisdiction [Member] | ||
Net Operating Loss Carryforwards | 2,536,000,000 | 2,594,000,000 |
Tax Credit Carryforward | $7,000,000 | $7,000,000 |
Legal_Proceedings_Details
Legal Proceedings (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 |
Jo Ann Howard Pc Et Al V Cassity Et Al [Member] | Compensatory Damages [Member] | |
Loss Contingencies [Line Items] | |
Damages sought | $355.50 |
Jo Ann Howard Pc Et Al V Cassity Et Al [Member] | Punitive Damages [Member] | |
Loss Contingencies [Line Items] | |
Damages sought | 35.6 |
Jo Ann Howard Pc Et Al V Cassity Et Al [Member] | Prejudgment Interest [Member] | |
Loss Contingencies [Line Items] | |
Damages sought | 178.8 |
Legal Reserve [Member] | Maximum [Member] | |
Loss Contingencies [Line Items] | |
Loss contingency, range of possible loss not accrued | $725 |
Commitments_and_Guarantees_Nar
Commitments and Guarantees (Narrative) (Details) (USD $) | 3 Months Ended | |||
Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | |
Total Indemnification and Repurchase Liability | ||||
Loss Contingencies [Line Items] | ||||
Reserves, Ending balance | $134,000,000 | $136,000,000 | $122,000,000 | $153,000,000 |
Residential Mortgage [Member] | Total Indemnification and Repurchase Liability | ||||
Loss Contingencies [Line Items] | ||||
Reserves, Ending balance | 106,000,000 | 107,000,000 | 103,000,000 | 131,000,000 |
Standby letters of credit [Member] | ||||
Loss Contingencies [Line Items] | ||||
Standby letters of credit - Terms outstanding - Minimum | 1 year | |||
Standby letters of credit - Terms outstanding - Maximum | 8 years | |||
Standby letters of credit - Assets securing certain specifically identified standby letters of credit | 989,000,000 | |||
Standby letters of credit and participations in standby letters of credit - Liability carrying amount | 180,000,000 | |||
Recourse Obligations [Member] | Commercial Mortgage [Member] | ||||
Loss Contingencies [Line Items] | ||||
Commercial mortgage recourse obligations - Unpaid principal balance of loans sold | 12,600,000,000 | 12,300,000,000 | ||
Maximum Exposure | 3,800,000,000 | 3,700,000,000 | ||
Reserves, Ending balance | 38,000,000 | 35,000,000 | 33,000,000 | 33,000,000 |
Recourse Obligations [Member] | Residential Mortgage [Member] | Maximum [Member] | ||||
Loss Contingencies [Line Items] | ||||
Loss contingency, range of possible loss not accrued | 94,000,000 | |||
Resale Agreements [Member] | ||||
Loss Contingencies [Line Items] | ||||
Fair value adjustment on resale agreements | $7,000,000 | $7,000,000 |
Commitments_and_Guarantees_Oth
Commitments and Guarantees (Other Commitments) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Other Commitments [Line Items] | ||
Other commitments | $152,188 | $156,032 |
Commitments to extend credit [Member] | ||
Other Commitments [Line Items] | ||
Other commitments | 137,960 | 139,687 |
Commitments to extend credit [Member] | Total commercial lending [Member] | ||
Other Commitments [Line Items] | ||
Other commitments | 96,866 | 99,837 |
Commitments to extend credit [Member] | Home Equity Lines of Credit [Member] | ||
Other Commitments [Line Items] | ||
Other commitments | 17,784 | 17,839 |
Commitments to extend credit [Member] | Credit Card [Member] | ||
Other Commitments [Line Items] | ||
Other commitments | 18,539 | 17,833 |
Commitments to extend credit [Member] | Other [Member] | ||
Other Commitments [Line Items] | ||
Other commitments | 4,771 | 4,178 |
Standby letters of credit [Member] | ||
Other Commitments [Line Items] | ||
Other commitments | 9,750 | 9,991 |
Standby letters of credit [Member] | Remarketing Programs [Member] | ||
Other Commitments [Line Items] | ||
Other commitments | 5,400 | 5,200 |
Reinsurance Agreements [Member] | ||
Other Commitments [Line Items] | ||
Other commitments | 2,428 | 4,297 |
Standby Bond Purchase Agreements [Member] | ||
Other Commitments [Line Items] | ||
Other commitments | 1,080 | 1,095 |
Equity Investments [Member] | ||
Other Commitments [Line Items] | ||
Other commitments | 970 | 962 |
Equity Investments [Member] | Investments in qualified affordable housing project [Member] | ||
Other Commitments [Line Items] | ||
Other commitments | $411 | $441 |
Commitments_and_Guarantees_Int
Commitments and Guarantees (Internal Credit Ratings Related to Net Outstanding Standby Letters of Credit) (Details) (Standby letters of credit [Member]) | Mar. 31, 2015 | Dec. 31, 2014 |
Standby letters of credit [Member] | ||
Loss Contingencies [Line Items] | ||
Internal credit ratings (as a percentage of portfolio) - Pass | 95.00% | 95.00% |
Internal credit ratings (as a percentage of portfolio) - Below pass | 5.00% | 5.00% |
Commitments_and_Guarantees_Rei
Commitments and Guarantees (Reinsurance Agreements Exposure and Reserves) (Details) (Reinsurance Agreements [Member], USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Loss Contingencies [Line Items] | |||
Maximum Exposure | $2,428 | $4,297 | |
Reserves, Beginning balance | 13 | 32 | |
Paid Losses | -3 | -7 | |
Net Provision | 3 | 3 | |
Reserves, Ending balance | 13 | 28 | |
Accidental Death and Dismemberment [Member] | |||
Loss Contingencies [Line Items] | |||
Maximum Exposure | 1,740 | 1,774 | |
Credit Life, Accident and Health [Member] | |||
Loss Contingencies [Line Items] | |||
Maximum Exposure | 441 | 467 | |
Lender Placed Hazard [Member] | |||
Loss Contingencies [Line Items] | |||
Maximum Exposure | 247 | 2,056 | |
Maximum Exposure to Quota Share Agreemens with 100% Reinsurance | |||
Loss Contingencies [Line Items] | |||
Maximum Exposure | $440 | $466 |
Commitments_and_Guarantees_Ana
Commitments and Guarantees (Analysis of Commercial Mortgage Recourse Obligations) (Details) (Recourse Obligations [Member], Commercial Mortgage [Member], USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Recourse Obligations [Member] | Commercial Mortgage [Member] | ||
Loss Contingencies [Line Items] | ||
Reserves, Beginning balance | $35 | $33 |
Reserve adjustments, net | 3 | |
Losses | 0 | |
Reserves, Ending balance | $38 | $33 |
Commitments_and_Guarantees_Ana1
Commitments and Guarantees (Analysis of Indemnification and Repurchase Liability for Asserted and Unasserted Claims) (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
Total Indemnification and Repurchase Liability | |||
Loss Contingencies [Line Items] | |||
Reserves, Beginning balance | $136,000,000 | $153,000,000 | |
Reserve adjustments, net | 1,000,000 | -16,000,000 | |
Reserves, Ending balance | 134,000,000 | 122,000,000 | |
Total Indemnification and Repurchase Liability | Loan repurchases and private investor settlements [Member] | |||
Loss Contingencies [Line Items] | |||
Losses | -3,000,000 | -15,000,000 | |
Residential Mortgages [Member] | |||
Loss Contingencies [Line Items] | |||
Repurchase obligations - sold loan portfolios | 67,600,000,000 | 70,500,000,000 | |
Residential Mortgages [Member] | Total Indemnification and Repurchase Liability | |||
Loss Contingencies [Line Items] | |||
Reserves, Beginning balance | 107,000,000 | 131,000,000 | |
Reserve adjustments, net | 1,000,000 | -19,000,000 | |
Reserves, Ending balance | 106,000,000 | 103,000,000 | |
Residential Mortgages [Member] | Total Indemnification and Repurchase Liability | Loan repurchases and private investor settlements [Member] | |||
Loss Contingencies [Line Items] | |||
Losses | -2,000,000 | -9,000,000 | |
Home Equity [Member] | |||
Loss Contingencies [Line Items] | |||
Repurchase obligations - sold loan portfolios | 2,400,000,000 | 2,800,000,000 | |
Prior Period Reduction For Correction Of Error | 800,000,000 | ||
Home Equity [Member] | Total Indemnification and Repurchase Liability | |||
Loss Contingencies [Line Items] | |||
Reserves, Beginning balance | 22,000,000 | 29,000,000 | |
Reserve adjustments, net | 3,000,000 | ||
Reserves, Ending balance | 28,000,000 | 19,000,000 | 29,000,000 |
Home Equity [Member] | Total Indemnification and Repurchase Liability | Loan repurchases and private investor settlements [Member] | |||
Loss Contingencies [Line Items] | |||
Losses | ($1,000,000) | ($6,000,000) |
Commitments_and_Guarantees_Res
Commitments and Guarantees (Resale and Repurchase Agreements) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Offsetting Assets [Line Items] | ||
Gross Resale Agreements | $1,733 | $1,646 |
Net Resale Agreements | 1,733 | 1,646 |
Securities Collateral Held Under Master Netting Agreements | 1,659 | 1,569 |
Net Amounts | 74 | 77 |
Offsetting Liabilities [Line Items] | ||
Gross Repurchase Agreements | 2,153 | 3,406 |
Net Repurchase Agreements | 2,153 | 3,406 |
Securities Collateral Pledged Under Master Netting Agreements | 1,362 | 2,580 |
Net Amounts | 791 | 826 |
Long Term Repurchase Agreements [Member] | ||
Offsetting Liabilities [Line Items] | ||
Net Repurchase Agreements | 0 | 0 |
Accrued Interest Income [Member] | ||
Offsetting Assets [Line Items] | ||
Net Resale Agreements | $0 | $1 |
Segment_Reporting_Narrative_De
Segment Reporting (Narrative) (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Segment Reporting Information [Line Items] | ||
Segment reporting, number of segments | 6 | |
BlackRock [Member] | ||
Segment Reporting Information [Line Items] | ||
PNC's economic interest in BlackRock | 22.00% | |
Proceeds from dividends received | $80,000,000 | $71,000,000 |
Retail Banking [Member] | ||
Segment Reporting Information [Line Items] | ||
Impact of methodology change funds transfer pricing | 55,000,000 | |
Corporate & Institutional Banking [Member] | ||
Segment Reporting Information [Line Items] | ||
Impact of methodology change funds transfer pricing | ($60,000,000) |
Segment_Reporting_Table_Detail
Segment Reporting (Table) (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Segment Reporting Information [Line Items] | ||
Net interest income | $2,072,000,000 | $2,195,000,000 |
Noninterest income | 1,659,000,000 | 1,582,000,000 |
Total revenue | 3,731,000,000 | 3,777,000,000 |
Provision for credit losses (benefit) | 54,000,000 | 94,000,000 |
Depreciation and amortization | 193,000,000 | 181,000,000 |
Other noninterest expense | 2,156,000,000 | 2,083,000,000 |
Income (loss) before income taxes and noncontrolling interests | 1,328,000,000 | 1,419,000,000 |
Income taxes | 324,000,000 | 359,000,000 |
Net income (loss) | 1,004,000,000 | 1,060,000,000 |
Inter-segment revenue | 0 | 0 |
Average Assets | 348,057,000,000 | 319,562,000,000 |
Retail Banking [Member] | ||
Segment Reporting Information [Line Items] | ||
Net interest income | 1,037,000,000 | 980,000,000 |
Noninterest income | 488,000,000 | 514,000,000 |
Total revenue | 1,525,000,000 | 1,494,000,000 |
Provision for credit losses (benefit) | 49,000,000 | 145,000,000 |
Depreciation and amortization | 43,000,000 | 44,000,000 |
Other noninterest expense | 1,115,000,000 | 1,056,000,000 |
Income (loss) before income taxes and noncontrolling interests | 318,000,000 | 249,000,000 |
Income taxes | 116,000,000 | 91,000,000 |
Net income (loss) | 202,000,000 | 158,000,000 |
Inter-segment revenue | 0 | 1,000,000 |
Average Assets | 74,017,000,000 | 75,920,000,000 |
Corporate & Institutional Banking [Member] | ||
Segment Reporting Information [Line Items] | ||
Net interest income | 823,000,000 | 903,000,000 |
Noninterest income | 429,000,000 | 364,000,000 |
Total revenue | 1,252,000,000 | 1,267,000,000 |
Provision for credit losses (benefit) | 17,000,000 | -13,000,000 |
Depreciation and amortization | 36,000,000 | 31,000,000 |
Other noninterest expense | 478,000,000 | 457,000,000 |
Income (loss) before income taxes and noncontrolling interests | 721,000,000 | 792,000,000 |
Income taxes | 239,000,000 | 269,000,000 |
Net income (loss) | 482,000,000 | 523,000,000 |
Inter-segment revenue | 2,000,000 | -2,000,000 |
Average Assets | 131,178,000,000 | 117,937,000,000 |
Asset Management Group [Member] | ||
Segment Reporting Information [Line Items] | ||
Net interest income | 73,000,000 | 71,000,000 |
Noninterest income | 208,000,000 | 199,000,000 |
Total revenue | 281,000,000 | 270,000,000 |
Provision for credit losses (benefit) | 12,000,000 | 12,000,000 |
Depreciation and amortization | 11,000,000 | 10,000,000 |
Other noninterest expense | 199,000,000 | 189,000,000 |
Income (loss) before income taxes and noncontrolling interests | 59,000,000 | 59,000,000 |
Income taxes | 22,000,000 | 22,000,000 |
Net income (loss) | 37,000,000 | 37,000,000 |
Inter-segment revenue | 2,000,000 | 3,000,000 |
Average Assets | 7,943,000,000 | 7,599,000,000 |
Residential Mortgage Banking [Member] | ||
Segment Reporting Information [Line Items] | ||
Net interest income | 30,000,000 | 40,000,000 |
Noninterest income | 177,000,000 | 166,000,000 |
Total revenue | 207,000,000 | 206,000,000 |
Provision for credit losses (benefit) | 2,000,000 | -1,000,000 |
Depreciation and amortization | 4,000,000 | 3,000,000 |
Other noninterest expense | 157,000,000 | 210,000,000 |
Income (loss) before income taxes and noncontrolling interests | 44,000,000 | -6,000,000 |
Income taxes | 16,000,000 | -2,000,000 |
Net income (loss) | 28,000,000 | -4,000,000 |
Inter-segment revenue | 5,000,000 | 4,000,000 |
Average Assets | 7,245,000,000 | 8,777,000,000 |
BlackRock [Member] | ||
Segment Reporting Information [Line Items] | ||
Noninterest income | 175,000,000 | 160,000,000 |
Total revenue | 175,000,000 | 160,000,000 |
Income (loss) before income taxes and noncontrolling interests | 175,000,000 | 160,000,000 |
Income taxes | 40,000,000 | 37,000,000 |
Net income (loss) | 135,000,000 | 123,000,000 |
Inter-segment revenue | 4,000,000 | 4,000,000 |
Average Assets | 6,645,000,000 | 6,272,000,000 |
Non Strategic Assets [Member] | ||
Segment Reporting Information [Line Items] | ||
Net interest income | 112,000,000 | 142,000,000 |
Noninterest income | 9,000,000 | 6,000,000 |
Total revenue | 121,000,000 | 148,000,000 |
Provision for credit losses (benefit) | -31,000,000 | -52,000,000 |
Depreciation and amortization | 0 | |
Other noninterest expense | 24,000,000 | 26,000,000 |
Income (loss) before income taxes and noncontrolling interests | 128,000,000 | 174,000,000 |
Income taxes | 47,000,000 | 64,000,000 |
Net income (loss) | 81,000,000 | 110,000,000 |
Inter-segment revenue | -2,000,000 | -3,000,000 |
Average Assets | 7,276,000,000 | 8,889,000,000 |
All Other Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Net interest income | -3,000,000 | 59,000,000 |
Noninterest income | 173,000,000 | 173,000,000 |
Total revenue | 170,000,000 | 232,000,000 |
Provision for credit losses (benefit) | 5,000,000 | 3,000,000 |
Depreciation and amortization | 99,000,000 | 93,000,000 |
Other noninterest expense | 183,000,000 | 145,000,000 |
Income (loss) before income taxes and noncontrolling interests | -117,000,000 | -9,000,000 |
Income taxes | -156,000,000 | -122,000,000 |
Net income (loss) | 39,000,000 | 113,000,000 |
Inter-segment revenue | -11,000,000 | -7,000,000 |
Average Assets | $113,753,000,000 | $94,168,000,000 |
Subsequent_Events_Details
Subsequent Events (Details) (Subsequent Event, USD $) | 3 Months Ended | |
In Millions, except Share data, unless otherwise specified | Mar. 31, 2015 | 4-May-15 |
Series K Preferred Stock [Member] | ||
Subsequent Event [Line Items] | ||
Preferred stock redemption date | 4-May-15 | |
Preferred stock redemption amount | $500 | |
Preferred Stock Shares Outstanding | 50,000 | |
Preferred stock redemption price | $10,000 | |
Depositary Shares [Member] | ||
Subsequent Event [Line Items] | ||
Preferred stock redemption date | 4-May-15 | |
Depositary Shares | 500,000 | |
Preferred stock redemption price | $1,000 |