Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2017 | Apr. 21, 2017 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | PNC | |
Entity Registrant Name | PNC FINANCIAL SERVICES GROUP, INC. | |
Entity Central Index Key | 713,676 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 483,901,441 |
Consolidated Income Statement
Consolidated Income Statement - USD ($) shares in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Interest Income | ||
Loans | $ 1,904 | $ 1,843 |
Investment securities | 493 | 462 |
Other | 123 | 102 |
Total interest income | 2,520 | 2,407 |
Interest Expense | ||
Deposits | 120 | 105 |
Borrowed funds | 240 | 204 |
Total interest expense | 360 | 309 |
Net interest income | 2,160 | 2,098 |
Noninterest Income | ||
Asset management | 403 | 341 |
Consumer services | 332 | 337 |
Corporate services | 393 | 325 |
Residential mortgage | 113 | 100 |
Service charges on deposits | 161 | 158 |
Other | 322 | 306 |
Total noninterest income | 1,724 | 1,567 |
Total revenue | 3,884 | 3,665 |
Provision For Credit Losses | 88 | 152 |
Noninterest Expense | ||
Personnel | 1,249 | 1,145 |
Occupancy | 222 | 221 |
Equipment | 251 | 234 |
Marketing | 55 | 54 |
Other | 625 | 627 |
Total noninterest expense | 2,402 | 2,281 |
Income (loss) before income taxes and noncontrolling interests | 1,394 | 1,232 |
Income taxes (benefit) | 320 | 289 |
Net income | 1,074 | 943 |
Net income (loss) attributable to noncontrolling interests | 17 | 19 |
Preferred stock dividends | 63 | 63 |
Preferred stock discount accretion and redemptions | 21 | 2 |
Net income attributable to common shareholders | $ 973 | $ 859 |
Earnings Per Common Share | ||
Basic | $ 1.99 | $ 1.7 |
Diluted | $ 1.96 | $ 1.68 |
Average Common Shares Outstanding | ||
Basic | 487 | 501 |
Diluted | 492 | 507 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Net income | $ 1,074 | $ 943 |
Other Comprehensive Income (Loss), before Tax [Abstract] | ||
Net unrealized gains (losses) on non-OTTI securities, Before Tax | 69 | 504 |
Net unrealized gains (losses) on OTTI securities | 35 | (38) |
Net unrealized gains (losses) on cash flow hedge derivatives | (77) | 200 |
Pension and other postretirement benefit plan adjustments | (62) | 12 |
Other | 4 | (27) |
Other comprehensive income (loss), before tax and net of reclassifications into Net income | (31) | 651 |
Income tax benefit (expense) related to items of other comprehensive income | 17 | (249) |
Other comprehensive income (loss), after tax and net of reclassifications into Net income | (14) | 402 |
Comprehensive income | 1,060 | 1,345 |
Less: Comprehensive income (loss) attributable to noncontrolling interests (a) | 17 | 19 |
Comprehensive income attributable to PNC | $ 1,043 | $ 1,326 |
Consolidated Balance Sheet
Consolidated Balance Sheet - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 | |
Assets | |||
Cash and due from banks | $ 5,003,000,000 | $ 4,879,000,000 | |
Interest-earning deposits with banks | 27,877,000,000 | 25,711,000,000 | |
Loans held for sale (a) | [1] | 1,414,000,000 | 2,504,000,000 |
Available-for-sale securities | 59,339,000,000 | 60,104,000,000 | |
Held-to-maturity securities | 17,093,000,000 | 15,843,000,000 | |
Loans (a) | [1] | 212,826,000,000 | 210,833,000,000 |
Allowance for loan and lease losses | (2,561,000,000) | (2,589,000,000) | |
Net loans | 210,265,000,000 | 208,244,000,000 | |
Equity investments | 10,900,000,000 | 10,728,000,000 | |
Mortgage servicing rights | 1,867,000,000 | 1,758,000,000 | |
Goodwill | 9,103,000,000 | 9,103,000,000 | |
Other (a) | [1] | 28,083,000,000 | 27,506,000,000 |
Total assets | 370,944,000,000 | 366,380,000,000 | |
Deposits | |||
Noninterest-bearing | 79,246,000,000 | 80,230,000,000 | |
Interest-bearing | 181,464,000,000 | 176,934,000,000 | |
Total deposits | 260,710,000,000 | 257,164,000,000 | |
Borrowed funds | |||
Federal Home Loan Bank Borrowings | 19,549,000,000 | 17,549,000,000 | |
Bank notes and senior debt | 23,745,000,000 | 22,972,000,000 | |
Subordinated debt | 6,889,000,000 | 8,009,000,000 | |
Other (b) | [2] | 4,879,000,000 | 4,176,000,000 |
Total Borrowed funds | 55,062,000,000 | 52,706,000,000 | |
Allowance for unfunded loan commitments and letters of credit | 305,000,000 | 301,000,000 | |
Accrued expenses and other liabilities | 8,964,000,000 | 9,355,000,000 | |
Total liabilities | 325,041,000,000 | 319,526,000,000 | |
Equity | |||
Preferred stock (c) | [3] | ||
Common stock ($5 par value, authorized 800 shares, issued 542 shares) | 2,709,000,000 | 2,709,000,000 | |
Capital Surplus | 16,275,000,000 | 16,651,000,000 | |
Retained earnings | 32,372,000,000 | 31,670,000,000 | |
Accumulated other comprehensive income (loss) | (279,000,000) | (265,000,000) | |
Common stock held in treasury at cost: 57 shares | (5,323,000,000) | (5,066,000,000) | |
Total shareholders' equity | 45,754,000,000 | 45,699,000,000 | |
Noncontrolling interests | 149,000,000 | 1,155,000,000 | |
Total equity | 45,903,000,000 | 46,854,000,000 | |
Total liabilities and equity | $ 370,944,000,000 | $ 366,380,000,000 | |
[1] | Our consolidated assets included the following for which we have elected the fair value option: Loans held for sale of $1.3 billion, Loans of $.9 billion and Other assets of $.3 billion at March 31, 2017 and Loans held for sale of $2.4 billion, Loans of $.9 billion and Other assets of $.5 billion at December 31, 2016. | ||
[2] | Our consolidated liabilities included Other borrowed funds of $.1 billion at both March 31, 2017 and December 31, 2016, for which we have elected the fair value option. | ||
[3] | Par value less than $.5 million at each date. |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) - USD ($) shares in Millions, $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 | |
Loans held for sale | [1] | $ 1,414 | $ 2,504 |
Loans | [1] | 212,826 | 210,833 |
Other assets | [1] | 28,083 | 27,506 |
Other borrowed funds | [2] | $ 4,879 | $ 4,176 |
Common stock, par value (in dollars per share) | $ 5 | $ 5 | |
Common stock, authorized | 800 | 800 | |
Common stock, issued | 542 | 542 | |
Common stock held in treasury at cost, shares | 57 | 57 | |
Preferred stock | [3] | ||
Portion at Fair Value, Fair Value Disclosure | |||
Loans held for sale, fair value | [1] | 1,300 | 2,400 |
Loans, Fair Value | [1] | 900 | 900 |
Other assets, fair value | [1] | 300 | 500 |
Other borrowed funds, fair value | [2] | $ 100 | $ 100 |
[1] | Our consolidated assets included the following for which we have elected the fair value option: Loans held for sale of $1.3 billion, Loans of $.9 billion and Other assets of $.3 billion at March 31, 2017 and Loans held for sale of $2.4 billion, Loans of $.9 billion and Other assets of $.5 billion at December 31, 2016. | ||
[2] | Our consolidated liabilities included Other borrowed funds of $.1 billion at both March 31, 2017 and December 31, 2016, 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, 2017 | Mar. 31, 2016 | |
Operating Activities | ||
Net income | $ 1,074,000,000 | $ 943,000,000 |
Adjustments to reconcile net income to net cash provided (used) by operating activities | ||
Provision for credit losses (benefit) | 88,000,000 | 152,000,000 |
Depreciation and amortization | 279,000,000 | 270,000,000 |
Deferred income taxes | 21,000,000 | (49,000,000) |
Changes in fair value of mortgage servicing rights | 33,000,000 | 341,000,000 |
Gain on sales of Visa Class B common shares | (44,000,000) | |
Undistributed earnings of BlackRock | (100,000,000) | (61,000,000) |
Net change in | ||
Trading securities and other short-term investments | (405,000,000) | (946,000,000) |
Loans held for sale | 1,065,000,000 | 51,000,000 |
Other assets | 554,000,000 | (1,310,000,000) |
Accrued expenses and other liabilities | (884,000,000) | 1,084,000,000 |
Other | (116,000,000) | (155,000,000) |
Net cash provided (used) by operating activities | 1,609,000,000 | 276,000,000 |
Sales | ||
Securities available for sale | 3,202,000,000 | 782,000,000 |
Loans | 338,000,000 | 371,000,000 |
Repayments/maturities | ||
Securities available for sale | 2,790,000,000 | 2,005,000,000 |
Securities held to maturity | 504,000,000 | 523,000,000 |
Purchases | ||
Securities available for sale | (5,142,000,000) | (3,441,000,000) |
Securities held to maturity | (1,778,000,000) | (687,000,000) |
Loans | (177,000,000) | (363,000,000) |
Net change in | ||
Federal funds sold and resale agreements | (674,000,000) | 246,000,000 |
Interest-earning deposits with banks | (2,166,000,000) | 1,067,000,000 |
Loans | (2,359,000,000) | (1,530,000,000) |
Other | (177,000,000) | 119,000,000 |
Net cash provided (used) by investing activities | (5,639,000,000) | (908,000,000) |
Net change in | ||
Noninterest-bearing deposits | (944,000,000) | (877,000,000) |
Interest-bearing deposits | 4,530,000,000 | 2,641,000,000 |
Federal funds purchased and repurchase agreements | 8,000,000 | 718,000,000 |
Other borrowed funds | 795,000,000 | 128,000,000 |
Sales/issuances | ||
Federal Home Loan Bank borrowings | 4,500,000,000 | |
Bank notes and senior debt | 1,820,000,000 | 997,000,000 |
Other borrowed funds | 26,000,000 | 80,000,000 |
Common and treasury stock | 60,000,000 | 18,000,000 |
Repayments Maturities Financing [Abstract] | ||
Federal Home Loan Bank borrowings | (2,500,000,000) | (1,050,000,000) |
Bank notes and senior debt | (1,000,000,000) | (997,000,000) |
Subordinated debt | (1,100,000,000) | 18,000,000 |
Other borrowed funds | (19,000,000) | (373,000,000) |
Redemption of noncontrolling interests | 1,000,000,000 | |
Acquisition of treasury stock | (688,000,000) | (551,000,000) |
Preferred stock cash dividends paid | (63,000,000) | (64,000,000) |
Common stock cash dividends paid | (271,000,000) | (260,000,000) |
Net cash provided (used) by financing activities | 4,154,000,000 | 428,000,000 |
Net Increase (Decrease) In Cash And Due From Banks | 124,000,000 | (204,000,000) |
Cash and due from banks at beginning of period | 4,879,000,000 | 4,065,000,000 |
Cash and due from banks at end of period | 5,003,000,000 | 3,861,000,000 |
Supplemental Disclosures | ||
Interest paid | 347,000,000 | 345,000,000 |
Income taxes paid | 8,000,000 | 19,000,000 |
Income taxes refunded | 9,000,000 | 33,000,000 |
Non-cash Investing and Financing Items | ||
Transfer from loans to loans held for sale, net | 107,000,000 | 191,000,000 |
Transfer from loans to foreclosed assets | $ 57,000,000 | $ 81,000,000 |
Accounting Policies
Accounting Policies | 3 Months Ended |
Mar. 31, 2017 | |
Accounting Policies [Abstract] | |
Accounting Policies | Notes To Consolidated Financial Statements The PNC Financial Services Group, Inc. Unaudited B usiness The PNC Financial Services Group, Inc. (PNC) is one of the largest diversified financial services companies in the United States and is headquartered in Pittsburgh, Pennsylvania. We have businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management, providing many of our products and services nationally. Our primary geographic markets are lo cated in Pennsylvania, Ohio, New Jersey, Michigan, Illinois, Maryland, Indiana, Florida, North Carolina, Kentucky, Washington, D.C., Delaware, Virginia, Georgia, Alabama, Missouri, Wisconsin and South Carolina. We also provide certain products and services internationally. N ote 1 A ccounting P olicies Basis o f Financial Statement Presentation Our consolidated financial statements include the accounts of the parent company and its subsidiaries, most of which are wholly-owned, 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 account s and transactions. We have also reclassified certain prior year amounts to conform to the 2017 presentation, which did not have a material impact on our consolidated financial cond ition or results of operations. 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 ye ar or any other interim period. We have also considered the impact of subsequent events on these consolidated financial statements. When preparing these unaudited interim consolidated financial statements, we have assumed that you have read the audited consolidated financial statements included in our 2016 Annual Report on Form 10-K . Reference is made to Note 1 Accounting Policies in the 2016 Form 10-K for a detailed description of significa nt accounting policies. There have been no significant changes to our accounting policies as disclosed in the 2016 An nual Report on Form 10-K. These interim consolidated financial statements serve to update the 2016 Form 10-K and may not include al l information and notes necessary to constitute a complete set of 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 and allowances for loan and lease losses and unfunded loan commitments and letters of credit . Actual results may differ from the estimates and the differences may be material to the consolidated financial statements. Recently Adopted Accounting Standards We did not adopt any new accounting standards that had a significant impact during the first quarter of 2017 . |
Loan Sale and Servicing Activit
Loan Sale and Servicing Activities and Variable Interest Entities | 3 Months Ended |
Mar. 31, 2017 | |
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 2016 Form 10-K, w e 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 special purpose entities (SPEs) . We earn servicing and other ancillary fees for our role as servicer and, depending on the contractual terms of the servicing arrangement, we can be terminated as servicer with or without cause. At the consummation date of each type of loan transfer where we retain the servicing, we recognize a servicing right at fair value. See Note 7 Goodwill and Mortgage Servicing Rights for information on our servicing rights, including the carrying value of servicing assets. The following table provides cash flows associated with our loan sale and servicing activities: Table 31: Cash Flows Associated with Loan Sale and Servicing Activities Residential Commercial In millions Mortgages Mortgages (a) CASH FLOWS - Three months ended March 31, 2017 Sales of loans (b) $ 1,594 $ 1,617 Repurchases of previously transferred loans (c) $ 131 Servicing fees (d) $ 94 $ 33 Servicing advances recovered/(funded), net $ 42 $ 31 Cash flows on mortgage-backed securities held (e) $ 349 $ 129 CASH FLOWS - Three months ended March 31, 2016 Sales of loans (b) $ 1,438 $ 650 Repurchases of previously transferred loans (c) $ 160 Servicing fees (d) $ 93 $ 30 Servicing advances recovered/(funded), net $ 28 $ 31 Cash flows on mortgage-backed securities held (e) $ 352 $ 105 (a) Represents cash flow information associated with both commercial mortgage loan transfer and servicing activities. (b) Gains/losses recognized on sales of loans were insignificant. (c) Includes residential mortgage government insured or guaranteed loans eligible for repurchase through the exercise of our removal of account provision option, and loans repurchased due to alleged breaches of origination covenants or representations and warranties made to purchasers. (d) Includes contractually specified servicing fees, late charges and ancillary fees. (e) Represents cash flows on securities we hold issued by a securitization SPE in which we transferred to and/or services loans. The carrying values of such securities held were $6.9 billion in residential mortgage-backed securities and $.7 billion in commercial mortgage-backed securities at March 31, 2017 and $6.6 billion in residential mortgage-backed securities and $1.2 billion in commercial mortgage-backed securities at March 31, 2016. Additionally, at December 31, 2016, the carrying values of such securities held were $6.9 billion in residential mortgage-backed securities and $.9 billion in commercial mortgage-backed securities. Table 32 presents information about the principal balances of transferred loans that we service and are not recorded on our Consolidated Balance Sheet. We would only experience a loss on these transferred loans if we were required to repurchase a loan due to a breach in representations and warranties or a loss sharing arrangement associated with our continuing involvement with these loans. Table 32: Principal Balance, Delinquent Loans and Net Charge-offs Related to Serviced Loans For Others Residential Commercial In millions Mortgages Mortgages (a) March 31, 2017 Total principal balance $ 64,825 $ 45,043 Delinquent loans (b) $ 1,248 $ 1,148 December 31, 2016 Total principal balance $ 66,081 $ 45,855 Delinquent loans (b) $ 1,422 $ 941 Three months ended March 31, 2017 Net charge-offs (c) $ 25 $ 355 Three months ended March 31, 2016 Net charge-offs (c) $ 26 $ 912 (a) Represents information at the securitization level in which we have sold loans and we are the servicer for the securitization. (b) Serviced delinquent loans are 90 days or more past due or are in process of foreclosure. (c) Net charge-offs for Residential mortgages 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 commercial mortgage backed 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 2016 Form 10-K, we are involved with various entities in the normal course of business that are deemed to be VIEs. The following table provides a summary of non-consolidated VIEs with which we have significant continuing involvement but are not the primary beneficiary. We do not consider our continuing involvement to be significant when it relates to a VIE where we only invest in securities issued by the VIE and were not involved in the design of the VIE or where no tra nsfers have occurred between us and the VIE. We have excluded certain transactions with non-consolidated VIEs from the balances presented in Table 33 where we have determined that our continuing involvement is not significant. In addition, where we only have lending arrangements in the normal course of business with entities that could be VIEs, we have excluded these transactions with non-consolidated entities from the balances presented in Table 33 . These loans are included as part of the asset quality disclosures that we make in Note 3 Asset Quality. Table 33: Non-Consolidated VIEs PNC Risk of Loss (a) Carrying Value of Assets Owned by PNC Carrying Value of Liabilities Owned by PNC In millions March 31, 2017 Mortgage-Backed Securitizations (b) $ 7,771 $ 7,771 (c) Tax Credit Investments and Other 3,194 3,173 (d) $ 865 (e) Total $ 10,965 $ 10,944 $ 865 December 31, 2016 Mortgage-Backed Securitizations (b) $ 8,003 $ 8,003 (c) Tax Credit Investments and Other 3,083 3,043 (d) $ 823 (e) Total $ 11,086 $ 11,046 $ 823 (a) This represents loans, investments and other assets related to non-consolidated VIEs, net of collateral (if applicable). (b) Amounts reflect involvement with securitization SPEs where we transferred to and/or services loans for an SPE and we hold securities issued by that SPE. Values disclosed in the PNC Risk of Loss column represent our maximum exposure to loss for those securities’ holdings. (c) Included in Investment securities and Other assets on our Consolidated Balance Sheet. (d) Included in Investment securities, Loans, Equity investments and Other assets on our Consolidated Balance Sheet. (e) Included in Deposits and Other liabilities on our Consolidated Balance Sheet. We make certain equity investments in various tax credit limited partnerships or limited liability companies (LLCs). The purpose of these investments is to achieve a satisfactory return on capital and to assist us in achieving goals associated with the Community Reinvestment Act. During the three months ended March 31, 2017 , we recognized $ .1 billion of amortization, $ .1 billion of tax credits and $ 21 million of other tax benefits associated with qualified investments in low income housing tax credits within Income taxes. |
Asset Quality
Asset Quality | 3 Months Ended |
Mar. 31, 2017 | |
Asset Quality [Abstract] | |
Asset Quality | N ote 3 A sset Q uality 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 n onperforming loans and leases , OREO , foreclosed and other assets . 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 pro bable. 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. However, when nonaccrual criteria is met, interest income is not re cognized 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 1 Accounting Policies in our 2016 Form 10-K for additional information on our loan related policies . The following tables display the de linquency status of our loans and our nonperforming assets at March 31, 2017 and December 31, 2016 , respectively. Table 34: Analysis of Loan Portfolio (a) Accruing Current or Less 30-59 60-89 90 Days Total Fair Value Option Purchased Than 30 Days Days Days Or More Past Nonperforming Nonaccrual Impaired Total Dollars in millions Past Due Past Due Past Due Past Due Due (b) Loans Loans (c) Loans Loans (d) March 31, 2017 Commercial Lending Commercial $ 103,217 $ 62 $ 29 $ 40 $ 131 $ 400 $ 17 $ 103,765 Commercial real estate 29,212 15 6 21 137 65 29,435 Equipment lease financing 7,431 19 19 12 7,462 Total commercial lending 139,860 96 35 40 171 549 82 140,662 Consumer Lending Home equity 27,541 57 23 80 900 1,056 29,577 Residential real estate 12,787 122 77 432 631 (b) 473 $ 217 1,673 15,781 Credit card 5,018 32 21 37 90 4 5,112 Other consumer Automobile 12,226 35 10 5 50 61 12,337 Education and other 8,984 116 61 185 362 (b) 11 9,357 Total consumer lending 66,556 362 192 659 1,213 1,449 217 2,729 72,164 Total $ 206,416 $ 458 $ 227 $ 699 $ 1,384 $ 1,998 $ 217 $ 2,811 $ 212,826 Percentage of total loans 96.99 % .22 % .11 % .33 % .65 % .94 % .10 % 1.32 % 100.00 % December 31, 2016 Commercial Lending Commercial $ 100,710 $ 81 $ 20 $ 39 $ 140 $ 496 $ 18 $ 101,364 Commercial real estate 28,769 5 2 7 143 91 29,010 Equipment lease financing 7,535 29 1 30 16 7,581 Total commercial lending 137,014 115 23 39 177 655 109 137,955 Consumer Lending Home equity 27,820 64 30 94 914 1,121 29,949 Residential real estate 12,425 159 68 500 727 (b) 501 $ 219 1,726 15,598 Credit card 5,187 33 21 37 91 4 5,282 Other consumer Automobile 12,257 51 12 5 68 55 12,380 Education and other 9,235 140 78 201 419 (b) 15 9,669 Total consumer lending 66,924 447 209 743 1,399 1,489 219 2,847 72,878 Total $ 203,938 $ 562 $ 232 $ 782 $ 1,576 $ 2,144 $ 219 $ 2,956 $ 210,833 Percentage of total loans 96.73 % .27 % .11 % .37 % .75 % 1.02 % .10 % 1.40 % 100.00 % (a) Amounts in table represent recorded investment and exclude loans held for sale. 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) 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. Past due loan amounts include government insured or guaranteed Residential real estate mortgages totaling $.6 billion and $.6 billion and Education and other consumer loans totaling $.3 billion and $.4 billion at March 31, 2017 and December 31, 2016, respectively. (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 $1.2 billion and $1.3 billion at March 31, 2017 and December 31, 2016, respectively. At March 31, 2017 , we pledged $ 21.6 billion of commercial loans to the Federal Reserve Bank (FRB) and $ 61.1 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, 2016 were $ 22.0 billion and $ 60.8 billion, respectively . Table 35: Nonperforming Assets March 31 December 31 Dollars in millions 2017 2016 Nonperforming loans Total commercial lending $ 549 $ 655 Total consumer lending (a) 1,449 1,489 Total nonperforming loans (b) 1,998 2,144 OREO, foreclosed and other assets 214 230 Total nonperforming assets $ 2,212 $ 2,374 Nonperforming loans to total loans .94 % 1.02 % Nonperforming assets to total loans, OREO, foreclosed and other assets 1.04 % 1.12 % Nonperforming assets to total assets .60 % .65 % (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) The recorded investment of loans collateralized by residential real estate property that are in process of foreclosure was $.4 billion at both March 31, 2017 and December 31, 2016, which included $.2 billion of loans that are government insured/guaranteed. Nonperforming loans also include certain l oans whose terms have bee n 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 in our 2016 Form 10-K and the TDR section of this Note 3 . Total nonperforming loans in Table 35 include TDRs of $ 1.0 billion and $ 1.1 billion at March 31, 2017 and December 31, 2016 , respectively. TDRs that are performing, including consumer credit card TDR loans, totaled $ 1.1 billion at both March 31, 2017 and December 31, 2016 and are exc luded from nonperforming loans. Nonperforming TDRs are returned to accrual status and classified as performing after demonstrating 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 obligation s to us and loans to borrowers not currently obligated to make both principal and interest payments under the restructured terms are not returned to accrual status . See the TDRs section of this Note 3 for more information on TDRs. Additional Asset Quality Indicators We have two overall portfolio segments – Commercial Lending and Cons umer Lending. Each of these two segments comprises 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 C ommercial Lending segment is comp o sed of the commercial, commercial real est ate and equipment lease financing l oan c lasses . The Consumer Lending segment is compo sed of the home equity, reside ntial real estate, credit card and other consumer loan c lasses. Commercial Lending Asset Classes The following table presents asset quality indicators for the Commercial Le nding asset classes. See Note 3 Asset Quality in our 2016 Form 10-K for additional information related to our Commercial Lending asset classes, including discussion around the asset quality indicators that we use to monitor and manage the credit risk associated with each loan class. Table 36: Commercial Lending Asset Quality Indicators (a) Criticized Commercial Loans Pass Special Total In millions Rated Mention (b) Substandard (c) Doubtful (d) Loans March 31, 2017 Commercial $ 98,379 $ 1,894 $ 3,367 $ 125 $ 103,765 Commercial real estate 28,983 122 309 21 29,435 Equipment lease financing 7,294 70 92 6 7,462 Total commercial lending $ 134,656 $ 2,086 $ 3,768 $ 152 $ 140,662 December 31, 2016 Commercial $ 96,231 $ 1,612 $ 3,449 $ 72 $ 101,364 Commercial real estate 28,561 98 327 24 29,010 Equipment lease financing 7,395 89 91 6 7,581 Total commercial lending $ 132,187 $ 1,799 $ 3,867 $ 102 $ 137,955 (a) Loans are classified as "Pass", "Special Mention", "Substandard" and "Doubtful" based on the Regulatory Classification definitions. We use PDs and LGDs to rate commercial loans and 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 this table. (b) 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 the reporting date. (c) 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. (d) 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 See Note 3 Asset Quality in our 2016 Form 10-K for additional information related to our Consumer Lending asset classes, including discussion around the asset quality indicators that we use to monitor and manage the credit risk associated with each loan class. Home Equity and Residential Real Estate Loan Classes The following table present s asset quality indicators for home equity and residential real estate balances , excluding consumer purchased impaired loans of $ 2.7 billion and $2.8 bil lion at March 31, 2017 and December 31, 2016 , respectively, and government insured or guaranteed resident ial real estate mortgages of $.8 billion at both March 31, 2017 and December 31, 2016 . Table 37: Asset Quality Indicators for Home Equity and Residential Real Estate Loans – Excluding Purchased Impaired and Government Insured or Guaranteed Loans (a) Home Equity Residential Real Estate March 31, 2017 - in millions 1st Liens 2nd Liens Total Current estimated LTV ratios Greater than or equal to 125% and updated FICO scores: Greater than 660 $ 149 $ 576 $ 146 $ 871 Less than or equal to 660 (b) 25 101 33 159 Missing FICO 1 9 3 13 Greater than or equal to 100% to less than 125% and updated FICO scores: Greater than 660 360 1,112 320 1,792 Less than or equal to 660 (b) 67 200 81 348 Missing FICO 3 10 5 18 Greater than or equal to 90% to less than 100% and updated FICO scores: Greater than 660 430 1,047 431 1,908 Less than or equal to 660 69 161 75 305 Missing FICO 2 8 6 16 Less than 90% and updated FICO scores: Greater than 660 14,150 7,815 11,499 33,464 Less than or equal to 660 1,323 808 597 2,728 Missing FICO 42 54 90 186 Total home equity and residential real estate loans $ 16,621 $ 11,901 $ 13,286 $ 41,808 Home Equity Residential Real Estate December 31, 2016 - in millions 1st Liens 2nd Liens Total Current estimated LTV ratios Greater than or equal to 125% and updated FICO scores: Greater than 660 $ 161 $ 629 $ 174 $ 964 Less than or equal to 660 (b) 32 110 35 177 Missing FICO 1 9 2 12 Greater than or equal to 100% to less than 125% and updated FICO scores: Greater than 660 394 1,190 345 1,929 Less than or equal to 660 (b) 66 211 76 353 Missing FICO 3 10 7 20 Greater than or equal to 90% to less than 100% and updated FICO scores: Greater than 660 453 1,100 463 2,016 Less than or equal to 660 77 171 78 326 Missing FICO 1 8 6 15 Less than 90% and updated FICO scores: Greater than 660 14,047 7,913 11,153 33,113 Less than or equal to 660 1,323 822 586 2,731 Missing FICO 42 55 102 199 Missing LTV and updated FICO scores: Greater than 660 1 1 Total home equity and residential real estate loans $ 16,600 $ 12,228 $ 13,028 $ 41,856 (a) Amounts shown represent recorded investment. (b) 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%.The following states had the highest percentage of higher risk loans at March 31, 2017: New Jersey 16%, Pennsylvania 13%, Illinois 12%, Ohio 9%, Maryland 8%, Florida 6%, Michigan 5% and North Carolina 5%. The remainder of the states had lower than 4% of the higher risk loans individually, and collectively they represent approximately 26% of the higher risk loans. The following states had the highest percentage of higher risk loans at December 31, 2016: New Jersey 16%, Pennsylvania 14%, Illinois 12%, Ohio 10%, Florida 7%, Maryland 6%, Michigan 4% and North Carolina 4%. The remainder of the states had lower than 4% of the high risk loans individually, and collectively they represent approximately 27% of the higher risk loans. Credit Card and Other Consumer Loan Classes The following table presents asset quality indicators for the credit card and other consumer loan classes . Table 38: Credit Card and Other Consumer Loan Classes Asset Quality Indicators Credit Card Other Consumer (a) % of Total Loans % of Total Loans Using FICO Using FICO Dollars in millions Amount Credit Metric Amount Credit Metric March 31, 2017 FICO score greater than 719 $ 3,071 60 % $ 10,062 64 % 650 to 719 1,448 28 4,025 26 620 to 649 219 4 596 4 Less than 620 239 5 674 4 No FICO score available or required (b) 135 3 390 2 Total loans using FICO credit metric 5,112 100 % 15,747 100 % Consumer loans using other internal credit metrics (a) 5,947 Total loan balance $ 5,112 $ 21,694 Weighted-average updated FICO score (b) 734 742 December 31, 2016 FICO score greater than 719 $ 3,244 61 % $ 10,247 65 % 650 to 719 1,466 28 3,873 25 620 to 649 215 4 552 3 Less than 620 229 4 632 4 No FICO score available or required (b) 128 3 489 3 Total loans using FICO credit metric 5,282 100 % 15,793 100 % Consumer loans using other internal credit metrics (a) 6,256 Total loan balance $ 5,282 $ 22,049 Weighted-average updated FICO score (b) 736 744 (a) We use updated FICO scores as an asset quality indicator for non-government guaranteed or insured education loans, automobile loans and other secured and unsecured lines and loans. We use internal credit metrics, such as delinquency status, geography or other factors, as an asset quality indicator for government guaranteed or insured education loans and consumer loans to high net worth individuals, as internal credit metrics are more relevant than FICO scores for these types of loans. (b) 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. Weighted-average updated FICO score excludes accounts with no FICO score available or required. Troubled Debt Restructurings (TDRs) Table 39 quantifies the number of loans that were classified as TDRs as well as the change in the loans’ recorded investment as a result of becoming a TDR during the three months ended March 31, 2017 and March 31, 2016 . Additionally, the table provides information about the types of TDR concessions . See Note 3 Asset Quality in our 2016 Form 10-K for additional discussion of TDR s . Table 39: Financial Impact and TDRs by Concession Type (a) Pre-TDR Post-TDR Recorded Investment (c) During the three months ended March 31, 2017 Number Recorded Principal Rate Dollars in millions of Loans Investment (b) Forgiveness Reduction Other Total Total commercial lending 49 $ 35 $ 4 $ 6 $ 5 $ 15 Total consumer lending 2,899 73 37 31 68 Total TDRs 2,948 $ 108 $ 4 $ 43 $ 36 $ 83 During the three months ended March 31, 2016 Dollars in millions Total commercial lending 42 $ 168 $ 10 $ 142 $ 152 Total consumer lending 2,965 68 44 20 64 Total TDRs 3,007 $ 236 $ 54 $ 162 $ 216 (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. W e consider a TDR to have subsequently defaulted when it becomes 60 days past due after the most recent date the loan was restructured . The recorded investment of loans that were both (i) classified as TDRs or were subsequently modified during each 12-month period preceding January 1, 2017 and January 1, 201 6, respectively, and (ii) subsequently defaulted during the three months ended March 31, 2017 and March 31, 2016 totaled $32 million and $ 27 million, respectively. Impaired Loans I mpaired loans include commercial and consumer nonperforming loans and 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 l eases , 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. We did not recognize any interest income on impaired loans that have not returned to performing status, while they were impaire d during the three months ended March 31, 2017 and March 31, 2016 . The following table provides further detail on impaired lo ans individually evaluated for impairment and the associated ALLL. Certain commercial and consumer impaired loans do not have a related ALLL as the valuation of these impaired loans exceeded the recorded investm ent . Table 40: Impaired Loans Unpaid Average Principal Recorded Associated Recorded In millions Balance Investment Allowance Investment (a) March 31, 2017 Impaired loans with an associated allowance Total commercial lending $ 613 $ 372 $ 90 $ 425 Total consumer lending 1,236 1,178 215 1,181 Total impaired loans with an associated allowance $ 1,849 $ 1,550 $ 305 $ 1,606 Impaired loans without an associated allowance Total commercial lending $ 617 $ 345 $ 333 Total consumer lending 957 586 598 Total impaired loans without an associated allowance $ 1,574 $ 931 $ 931 Total impaired loans $ 3,423 $ 2,481 $ 305 $ 2,537 December 31, 2016 Impaired loans with an associated allowance Total commercial lending $ 742 $ 477 $ 105 $ 497 Total consumer lending 1,237 1,185 226 1,255 Total impaired loans with an associated allowance $ 1,979 $ 1,662 $ 331 $ 1,752 Impaired loans without an associated allowance Total commercial lending $ 447 $ 322 $ 365 Total consumer lending 982 608 604 Total impaired loans without an associated allowance $ 1,429 $ 930 $ 969 Total impaired loans $ 3,408 $ 2,592 $ 331 $ 2,721 (a) Average recorded investment is for the three months ended March 31, 2017 and the year ended December 31, 2016, respectively. |
Allowances for Loan and Lease L
Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters Of Credit | 3 Months Ended |
Mar. 31, 2017 | |
Allowance For Loan And Lease Losses [Abstract] | |
Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters Of Credit | Note 4 Allow ance for Loan and Lease Losses We maintain the ALLL at levels that we believe to be a ppropriate to absorb estimated probable credit losses incurred in the portfolios as of the balance sheet date. We use the two main portfolio segments – Commercial Lendi ng and Consumer Lending, and develop and document the ALLL under separate methodologies for each of these portfolio segments. See Note 1 Accounting Policies in our 2016 Form 10-K for a description of the accounting polici es for ALLL. A rollforward of the ALLL and associated loan data follows. Table 41: Rollforward of Allowance for Loan and Lease Losses and Associated Loan Data Commercial Consumer In millions Lending Lending Total March 31, 2017 Allowance for Loan and Lease Losses January 1 $ 1,534 $ 1,055 $ 2,589 Charge-offs (55) (143) (198) Recoveries 32 48 80 Net charge-offs (23) (95) (118) Provision for credit losses 23 65 88 Net change in allowance for unfunded loan commitments and letters of credit (5) 1 (4) Other 1 5 6 March 31 $ 1,530 $ 1,031 $ 2,561 TDRs individually evaluated for impairment $ 37 $ 215 $ 252 Other loans individually evaluated for impairment 53 53 Loans collectively evaluated for impairment 1,412 526 1,938 Purchased impaired loans 28 290 318 March 31 $ 1,530 $ 1,031 $ 2,561 Loan Portfolio TDRs individually evaluated for impairment $ 366 $ 1,764 $ 2,130 Other loans individually evaluated for impairment 351 351 Loans collectively evaluated for impairment 139,863 66,797 206,660 Fair value option loans (a) 874 874 Purchased impaired loans 82 2,729 2,811 March 31 $ 140,662 $ 72,164 $ 212,826 Portfolio segment ALLL as a percentage of total ALLL 60 % 40 % 100 % Ratio of the allowance for loan and lease losses to total loans 1.09 % 1.43 % 1.20 % March 31, 2016 Allowance for Loan and Lease Losses January 1 $ 1,605 $ 1,122 $ 2,727 Charge-offs (89) (147) (236) Recoveries 46 41 87 Net charge-offs (43) (106) (149) Provision for credit losses 84 68 152 Net change in allowance for unfunded loan commitments and letters of credit (19) (2) (21) Other 1 1 2 March 31 $ 1,628 $ 1,083 $ 2,711 TDRs individually evaluated for impairment $ 49 $ 261 $ 310 Other loans individually evaluated for impairment 115 115 Loans collectively evaluated for impairment 1,414 560 1,974 Purchased impaired loans 50 262 312 March 31 $ 1,628 $ 1,083 $ 2,711 Loan Portfolio TDRs individually evaluated for impairment $ 500 $ 1,891 $ 2,391 Other loans individually evaluated for impairment 436 436 Loans collectively evaluated for impairment 134,045 66,338 200,383 Fair value option loans (a) 895 895 Purchased impaired loans 149 3,231 3,380 March 31 $ 135,130 $ 72,355 $ 207,485 Portfolio segment ALLL as a percentage of total ALLL 60 % 40 % 100 % Ratio of the allowance for loan and lease losses to total loans 1.20 % 1.50 % 1.31 % (a) 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. |
Investment Securities
Investment Securities | 3 Months Ended |
Mar. 31, 2017 | |
Investment Securities Disclosure [Abstract] | |
Investment Securities | N OTE 5 I NVESTMENT S ECURITIES Table 42: Investment Securities Summary Amortized Unrealized Fair In millions Cost Gains Losses Value March 31, 2017 Securities Available for Sale Debt securities U.S. Treasury and government agencies $ 12,787 $ 185 $ (62) $ 12,910 Residential mortgage-backed Agency 26,329 153 (293) 26,189 Non-agency 3,011 236 (44) 3,203 Commercial mortgage-backed Agency 2,037 4 (35) 2,006 Non-agency 3,846 28 (11) 3,863 Asset-backed 5,934 59 (13) 5,980 Other debt 4,572 124 (23) 4,673 Total debt securities 58,516 789 (481) 58,824 Corporate stocks and other 517 (2) 515 Total securities available for sale $ 59,033 $ 789 $ (483) $ 59,339 Securities Held to Maturity Debt securities U.S. Treasury and government agencies $ 531 $ 36 $ (18) $ 549 Residential mortgage-backed Agency 12,344 66 (172) 12,238 Non-agency 185 6 191 Commercial mortgage-backed Agency 882 18 900 Non-agency 561 10 571 Asset-backed 552 1 (1) 552 Other debt 2,038 92 (21) 2,109 Total securities held to maturity $ 17,093 $ 229 $ (212) $ 17,110 December 31, 2016 Securities Available for Sale Debt securities U.S. Treasury and government agencies $ 13,100 $ 151 $ (77) $ 13,174 Residential mortgage-backed Agency 26,245 170 (287) 26,128 Non-agency 3,191 227 (52) 3,366 Commercial mortgage-backed Agency 2,150 3 (34) 2,119 Non-agency 4,023 29 (27) 4,025 Asset-backed 5,938 52 (22) 5,968 Other debt 4,656 104 (37) 4,723 Total debt securities 59,303 736 (536) 59,503 Corporate stocks and other 603 (2) 601 Total securities available for sale $ 59,906 $ 736 $ (538) $ 60,104 Securities Held to Maturity Debt securities U.S. Treasury and government agencies $ 527 $ 35 $ (22) $ 540 Residential mortgage-backed Agency 11,074 68 (161) 10,981 Non-agency 191 7 198 Commercial mortgage-backed Agency 903 24 927 Non-agency 567 10 577 Asset-backed 558 (2) 556 Other debt 2,023 76 (12) 2,087 Total securities held to maturity $ 15,843 $ 220 $ (197) $ 15,866 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 A ccumulated other comprehensive income or loss, net of tax, unless credit-related. Securities held to maturity are carried at amortized cost. At March 31, 2017 , Accumulated other comprehensive income included pretax gains of $ 52 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 43 presents gross unrealized losses and fair value of debt securities at March 31, 2017 and December 31, 2016 . The securities are segregated between investments that have been in a continuous unrealized loss position for less than twelve months an d 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 OTTI has been recognized in A ccumulated other comprehensive income ( loss ) . Table 43: Gross Unrealized Loss and Fair Value of Debt Securities 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 March 31, 2017 Securities Available for Sale Debt securities U.S. Treasury and government agencies $ (50) $ 2,756 $ (12) $ 869 $ (62) $ 3,625 Residential mortgage-backed Agency (274) 16,931 (19) 870 (293) 17,801 Non-agency (2) 152 (42) 838 (44) 990 Commercial mortgage-backed Agency (34) 1,582 (1) 39 (35) 1,621 Non-agency (10) 755 (1) 377 (11) 1,132 Asset-backed (3) 1,065 (10) 606 (13) 1,671 Other debt (20) 1,200 (3) 292 (23) 1,492 Total debt securities available for sale $ (393) $ 24,441 $ (88) $ 3,891 $ (481) $ 28,332 Securities Held to Maturity Debt securities U.S. Treasury and government agencies $ (18) $ 242 $ (18) $ 242 Residential mortgage-backed Agency (164) 7,961 $ (8) $ 152 (172) 8,113 Commercial mortgage-backed Agency 68 1 69 Non-agency 3 3 Asset-backed 25 (1) 251 (1) 276 Other debt (21) 141 (a) 1 (21) 142 Total debt securities held to maturity $ (203) $ 8,437 $ (9) $ 408 $ (212) $ 8,845 December 31, 2016 Securities Available for Sale Debt securities U.S. Treasury and government agencies $ (57) $ 3,108 $ (20) $ 2,028 $ (77) $ 5,136 Residential mortgage-backed Agency (267) 16,942 (20) 922 (287) 17,864 Non-agency (1) 109 (51) 1,119 (52) 1,228 Commercial mortgage-backed Agency (33) 1,577 (1) 86 (34) 1,663 Non-agency (14) 880 (13) 987 (27) 1,867 Asset-backed (5) 1,317 (17) 902 (22) 2,219 Other debt (33) 1,827 (4) 243 (37) 2,070 Total debt securities available for sale $ (410) $ 25,760 $ (126) $ 6,287 $ (536) $ 32,047 Securities Held to Maturity Debt securities U.S. Treasury and government agencies $ (22) $ 238 $ (22) $ 238 Residential mortgage-backed Agency (153) 8,041 $ (8) $ 161 (161) 8,202 Asset-backed (2) 451 (2) 451 Other debt (12) 146 (a) 1 (12) 147 Total debt securities held to maturity $ (187) $ 8,425 $ (10) $ 613 $ (197) $ 9,038 (a) The unrealized loss on these securities was less than $.5 million. Evaluating Investment Securities for Other-than-Temporary Impairments For the securities in Table 43 , as of March 31, 2017 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. On at least a quarterly basis , we review all debt securities that are in an unrealized loss position for OTTI, as discussed in Note 1 Accounting Policies of the 2016 Form 10-K. For those secu rities on our balance sheet at March 31, 2017 , where during our quarterly security-level impairment assessments we determined losses represented OTTI, we have recorded cumulative credit losses of $ 1.1 billion in earnings and accordingly have reduced the amortized cost of our securities. The majority of these cumulative impairment charges related to non-agency residential mortgage-backed and asset-backed securities rated BB or lower. During 2017 and 2016 , the OTTI credit losses recognized in noninterest income and the OTTI noncredit losses recognized in accumulated other comprehensive income (loss), net of tax, on securities were not significant. Information relating to gross realized securities gains and losses from the sales of securities is set forth in the following table. Table 44: Gains (Losses) on Sales of Securities Available for Sale Three months ended March 31 Gross Gross Net Tax In millions Proceeds Gains Losses (Losses) Gains (Benefit) Expense 2017 $ 3,222 $ 14 $ (16) $ (2) $ (1) 2016 $ 788 $ 9 $ 9 $ 3 The following table presents, by remaining contractual maturity, the amortized cost, fair value and weighted-average yield of debt securities at March 31, 2017 . Table 45: Contractual Maturity of Debt Securities March 31, 2017 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 $ 157 $ 5,714 $ 5,745 $ 1,171 $ 12,787 Residential mortgage-backed Agency 1 81 558 25,689 26,329 Non-agency 1 3,010 3,011 Commercial mortgage-backed Agency 74 155 758 1,050 2,037 Non-agency 108 108 3,630 3,846 Asset-backed 28 2,255 1,764 1,887 5,934 Other debt 310 2,311 569 1,382 4,572 Total debt securities available for sale $ 570 $ 10,625 $ 9,502 $ 37,819 $ 58,516 Fair value $ 573 $ 10,683 $ 9,536 $ 38,032 $ 58,824 Weighted-average yield, GAAP basis 2.99 % 2.14 % 2.15 % 2.91 % 2.65 % Securities Held to Maturity U.S. Treasury and government agencies $ 109 $ 422 $ 531 Residential mortgage-backed Agency $ 51 413 11,880 12,344 Non-agency 185 185 Commercial mortgage-backed Agency $ 84 739 5 54 882 Non-agency 561 561 Asset-backed 1 451 100 552 Other debt 12 219 967 840 2,038 Total debt securities held to maturity $ 96 $ 1,010 $ 1,945 $ 14,042 $ 17,093 Fair value $ 96 $ 1,035 $ 2,004 $ 13,975 $ 17,110 Weighted-average yield, GAAP basis 3.67 % 3.62 % 3.33 % 3.20 % 3.24 % Weighted-average yields are based on historical cost with effective yields weighted for the contractual maturity of each security. At March 31, 2017 , there were no securities of a single issuer, other than FNMA, that exceeded 10% of Total shareholders’ equity. The FNMA investments had a total amortized cost of $ 29.1 billion and fair value of $ 28.8 billion. The following table presents the fair value of securities that have been either pledged to or accepted from others to collateralize outstanding borrowings. Table 46: Fair Value of Securities Pledged and Accepted as Collateral March 31 December 31 In millions 2017 2016 Pledged to others $ 8,889 $ 9,493 Accepted from others: Permitted by contract or custom to sell or repledge $ 1,693 $ 912 Permitted amount repledged to others $ 1,599 $ 799 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, a nd were used to secure public and trust deposits, repurchase agreements and for other purposes. |
Fair Value
Fair Value | 3 Months Ended |
Mar. 31, 2017 | |
Fair Value [Abstract] | |
Fair Value | Note 6 Fair Value Fair Value Measurement We measure certain financial assets and liabilities at fair value. Fair value is defined 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, determined using an exit price in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The fair value hierarchy established by GAAP requires us to maximize the use of observable inputs when measuring fair value. For more information regarding the fair value hierarchy see Note 6 Fair Value in our 2016 Form 10-K. Assets and Liabilities Measured at Fair Value on a Recurring Basis For mo re information on the valuation methodologies used to measure assets and liabilities at fair value on a recurring basis, see Note 6 Fair Value in our 2016 Form 10-K. The following table summarizes our assets and liabilities measured at fair value o n a recurring basis, including instruments for which we have elected the fair value option. Table 47: Fair Value Measurements - Recurring Basis Summary March 31, 2017 December 31, 2016 Total Total In millions Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Fair Value Assets Residential mortgage loans held for sale $ 719 $ 4 $ 723 $ 1,008 $ 2 $ 1,010 Commercial mortgage loans held for sale 581 581 1,400 1,400 Securities available for sale U.S. Treasury and government agencies $ 12,312 598 12,910 $ 12,572 602 13,174 Residential mortgage-backed Agency 26,189 26,189 26,128 26,128 Non-agency 107 3,096 3,203 112 3,254 3,366 Commercial mortgage-backed Agency 2,006 2,006 2,119 2,119 Non-agency 3,863 3,863 4,025 4,025 Asset-backed 5,614 366 5,980 5,565 403 5,968 Other debt 4,598 75 4,673 4,657 66 4,723 Total debt securities 12,312 42,975 3,537 58,824 12,572 43,208 3,723 59,503 Corporate stocks and other 454 61 515 541 60 601 Total securities available for sale 12,766 43,036 3,537 59,339 13,113 43,268 3,723 60,104 Loans 551 323 874 558 335 893 Equity investments (a) 1,106 1,390 1,331 1,381 Residential mortgage servicing rights 1,261 1,261 1,182 1,182 Commercial mortgage servicing rights 606 606 576 576 Trading securities (b) 1,312 1,313 2 2,627 1,458 1,169 2 2,629 Financial derivatives (b) (c) 13 3,265 24 3,302 10 4,566 40 4,616 Other 276 291 82 649 266 312 239 817 Total assets $ 14,367 $ 49,175 $ 7,526 $ 71,352 $ 14,847 $ 50,881 $ 8,830 $ 74,608 Liabilities Other borrowed funds $ 1,497 $ 158 $ 7 $ 1,662 $ 799 $ 161 $ 10 $ 970 Financial derivatives (c) (d) 2 2,366 254 2,622 1 3,424 414 3,839 Other liabilities 31 31 9 9 Total liabilities $ 1,499 $ 2,524 $ 292 $ 4,315 $ 800 $ 3,585 $ 433 $ 4,818 (a) Certain investments that are measured at fair value using the net asset value (NAV) per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented on the Consolidated Balance Sheet. (b) Included in Other assets on the Consolidated Balance Sheet. (c) Amounts at March 31, 2017 and December 31, 2016, are presented gross and are not reduced by the impact of legally enforceable master netting agreements that allow us to net positive and negative positions and cash collateral held or placed with the same counterparty. See Note 9 Financial Derivatives for additional information related to derivative offsetting. (d) Included in Other liabilities on the Consolidated Balance Sheet. Reconciliations of assets and liabilities measured at fair value on a recurring basis using Level 3 inputs for the three months ended March 31, 2017 and 2016 follow: Table 48: Reconciliation of Level 3 Assets and Liabilities Three Months Ended March 31, 2017 Unrealized gains / losses Total realized / unrealized on assets and gains or losses for the period (a) liabilities held on Included Consolidated Level 3 Instruments Fair Value in Other Transfers Transfers Fair Value Balance Sheet Only Dec. 31, Included in comprehensive into out of Mar. 31, at Mar. 31, In millions 2016 Earnings income Purchases Sales Issuances Settlements Level 3 Level 3 2017 2017 (a) (b) Assets Residential mortgage loans held for sale $ 2 $ 2 $ 2 $ (2) $ 4 Commercial mortgage loans held for sale 1,400 $ 9 $ (1,617) $ 801 $ (12) 581 $ (5) Securities available for sale Residential mortgage- backed non-agency 3,254 26 $ 18 (202) 3,096 Asset-backed 403 4 4 (25) (20) 366 Other debt 66 9 1 (1) 75 Total securities available for sale 3,723 30 31 1 (26) (222) 3,537 Loans 335 1 22 (4) (19) 2 (14) 323 Equity investments 1,331 96 37 (175) (183) (c) 1,106 67 Residential mortgage servicing rights 1,182 18 83 17 (39) 1,261 17 Commercial mortgage servicing rights 576 13 13 29 (25) 606 13 Trading securities 2 2 Financial derivatives 40 (1) (15) 24 22 Other assets 239 (2) (155) 82 (2) Total assets $ 8,830 $ 164 $ 31 $ 158 $ (1,822) $ 847 $ (487) $ 4 $ (199) $ 7,526 $ 112 Liabilities Other borrowed funds $ 10 $ 19 $ (22) $ 7 Financial derivatives 414 $ 9 $ 2 (171) 254 $ 7 Other liabilities 9 16 77 (71) 31 16 Total liabilities $ 433 $ 25 $ 2 $ 96 $ (264) $ 292 $ 23 Net gains (losses) $ 139 (d) $ 89 (e) Three Months Ended March 31, 2016 Unrealized gains / losses Total realized / unrealized on assets and gains or losses for the period (a) liabilities held on Included Consolidated Level 3 Instruments Fair Value Included in Other Transfers Transfers Fair Value Balance Sheet Only Dec. 31, in comprehensive into out of Mar. 31, at Mar. 31, In millions 2015 Earnings income Purchases Sales Issuances Settlements Level 3 Level 3 2016 2016 (a) (b) Assets Residential mortgage loans held for sale $ 5 $ 3 $ (1) $ 2 $ (5) $ 4 Commercial mortgage loans held for sale 641 $ 16 (649) $ 647 655 $ 12 Securities available for sale Residential mortgage- backed non-agency 4,008 22 $ (45) $ (175) 3,810 (1) Asset-backed 482 3 (12) (22) 451 Other debt 45 (1) 2 (2) 44 Total securities available for sale 4,535 25 (58) 2 (2) (197) 4,305 (1) Loans 340 2 33 (8) (25) (13) 329 1 Equity investments 1,098 51 23 (16) 1,156 50 Residential mortgage servicing rights 1,063 (226) 52 11 (37) 863 (225) Commercial mortgage servicing rights 526 (55) 3 9 (23) 460 (55) Trading securities 3 (1) 2 Financial derivatives 31 34 (24) 41 28 Other 364 (9) (2) (1) (138) 214 (11) Total assets $ 8,606 $ (162) $ (60) $ 116 $ (677) $ 667 $ (445) $ 2 $ (18) $ 8,029 $ (201) Liabilities Other borrowed funds $ 12 $ 23 $ (27) $ 8 Financial derivatives 473 $ 7 $ 2 (149) 333 $ 8 Other liabilities 10 38 (34) 14 Total liabilities $ 495 $ 7 $ 2 $ 61 $ (210) $ 355 $ 8 Net gains (losses) $ (169) (d) $ (209) (e) (a) Losses for assets are bracketed while losses for liabilities are not. (b) 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. (c) Reflects transfers out of Level 3 associated with a change in valuation methodology for certain equity investments subject to the Volcker Rule provisions of the Dodd-Frank Act. These investments are measured at fair value using the NAV per share (or its equivalent) practical expedient as of March 31, 2017. (d) Net gains (losses) realized and unrealized included in earnings related to Level 3 assets and liabilities included amortization and accretion. 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. (e) Net unrealized gains (losses) related to assets and liabilities held at the end of the reporting period were included in Noninterest income on the Consolidated Income Statement. 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. Our policy is to recognize transfers in and transfers out as of the end of the reporting period. Quantitative information about the significant unobservable inputs within Level 3 recurring assets and liabilities follows. Table 49: Fair Value Measurements - Recurring Quantitative Information March 31, 2017 Level 3 Instruments Only Dollars in millions Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) Commercial mortgage loans held $ 581 Discounted cash flow Spread over the benchmark curve (a) 40bps-13,520bps (1,046bps) for sale Estimated servicing cash flows 0.0%-5.4% (2.0%) Residential mortgage-backed 3,096 Priced by a third-party vendor Constant prepayment rate (CPR) 1.0%-24.2% (7.4%) non-agency securities using a discounted cash flow Constant default rate (CDR) 0.0%-16.7% (5.2%) pricing model Loss severity 10.0%-98.5% (53.4%) Spread over the benchmark curve (a) 225bps weighted average Asset-backed securities 366 Priced by a third-party vendor Constant prepayment rate (CPR) 1.0%-16.0% (6.5%) using a discounted cash flow Constant default rate (CDR) 2.0%-13.9% (6.5%) pricing model Loss severity 24.2%-100.0% (75.5%) Spread over the benchmark curve (a) 256bps weighted average Loans 136 Consensus pricing (b) Cumulative default rate 11.0%-100.0% (85.4%) Loss severity 0.0%-100.0% (21.4%) Discount rate 4.7%-7.5% (5.1%) 113 Discounted cash flow Loss severity 8.0% weighted average Discount rate 4.4% weighted average 74 Consensus pricing (b) Credit and Liquidity discount 0.0%-99.0% (58.6%) Equity investments 1,106 Multiple of adjusted earnings Multiple of earnings 4.5x-13.4x (8.0x) Residential mortgage servicing rights 1,261 Discounted cash flow Constant prepayment rate (CPR) 0.1%-38.1% (9.3%) Spread over the benchmark curve (a) 224bps-1,900bps (850bps) Commercial mortgage servicing 606 Discounted cash flow Constant prepayment rate (CPR) 7.1%-37.8% (8.1%) rights Discount rate 5.0%-7.7% (7.6%) Financial derivatives - Swaps related (165) Discounted cash flow Estimated conversion factor of to sales of certain Visa Class B Class B shares into Class A shares 164.4% weighted average common shares Estimated growth rate of Visa Class A share price 14.0% Estimated length of litigation resolution date Q2 2019 Insignificant Level 3 assets, net of liabilities (c) 60 Total Level 3 assets, net of liabilities (d) $ 7,234 December 31, 2016 Level 3 Instruments Only Dollars in millions Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) Commercial mortgage loans held $ 1,400 Discounted cash flow Spread over the benchmark curve (a) 42bps-1,725bps (362bps) for sale Estimated servicing cash flows 0.0%-7.3% (1.5%) Residential mortgage-backed 3,254 Priced by a third-party vendor Constant prepayment rate (CPR) 1.0%-24.2% (7.2%) non-agency securities using a discounted cash flow Constant default rate (CDR) 0.0%-16.7% (5.3%) pricing model Loss severity 10.0%-98.5% (53.5%) Spread over the benchmark curve (a) 236bps weighted average Asset-backed securities 403 Priced by a third-party vendor Constant prepayment rate (CPR) 1.0%-16.0% (6.4%) using a discounted cash flow Constant default rate (CDR) 2.0%-13.9% (6.6%) pricing model Loss severity 24.2%-100.0% (77.3%) Spread over the benchmark curve (a) 278bps weighted average Loans 141 Consensus pricing (b) Cumulative default rate 11.0%-100.0% (86.9%) Loss severity 0.0%-100.0% (22.9%) Discount rate 4.7%-6.7% (5.1%) 116 Discounted cash flow Loss severity 8.0% weighted average Discount rate 4.2% weighted average 78 Consensus pricing (b) Credit and Liquidity discount 0.0%-99.0% (57.9%) Equity investments 1,331 Multiple of adjusted earnings Multiple of earnings 4.5x-12.0x (7.8x) Consensus pricing (b) Liquidity discount 0.0%-40.0% Residential mortgage servicing rights 1,182 Discounted cash flow Constant prepayment rate (CPR) 0.0%-36.0% (9.4%) Spread over the benchmark curve (a) 341bps-1,913bps (850bps) Commercial mortgage servicing rights 576 Discounted cash flow Constant prepayment rate (CPR) 7.5%-43.4% (8.6%) Discount rate 3.5%-7.6% (7.5%) Other assets - BlackRock Series C 232 Consensus pricing (b) Liquidity discount 15.0%-25.0% (20.0%) Preferred Stock Financial derivatives - BlackRock (232) Consensus pricing (b) Liquidity discount 15.0%-25.0% (20.0%) LTIP Financial derivatives - Swaps related (164) Discounted cash flow Estimated conversion factor of to sales of certain Visa Class B Class B shares into Class A shares 164.4% weighted average common shares Estimated growth rate of Visa Class A share price 14.0% Estimated length of litigation resolution date Q2 2019 Insignificant Level 3 assets, net of liabilities (c) 80 Total Level 3 assets, net of liabilities (d) $ 8,397 (a) 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. (b) 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. (c) 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, state and municipal and other debt securities, residential mortgage loans held for sale, other assets, other borrowed funds and other liabilities. (d) Consisted of total Level 3 assets of $7.5 billion and total Level 3 liabilities of $.3 billion as of March 31, 2017 and $8.8 billion and $.4 billion as of December 31, 2016, 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 50 and Table 51 . For more information regarding the valuation methodologie s of our financial assets measured at fair value on a nonrecurring basis, see Note 6 Fair Value in our 2016 Form 10-K. Table 50: Fair Value Measurements - Nonrecurring Gains (Losses) Fair Value (a) Three months ended March 31 December 31 March 31 March 31 In millions 2017 2016 2017 2016 Assets Nonaccrual loans $ 146 $ 187 $ (6) $ (47) OREO and foreclosed assets 56 107 (4) (8) Insignificant assets 9 19 3 (7) Total assets $ 211 $ 313 $ (7) $ (62) (a) All Level 3 as of March 31, 2017 and December 31, 2016. Quantitative information about the significant unobservable inputs within Level 3 nonrecurring assets follows. Table 51: Fair Value Measurements - Nonrecurring Quantitative Information Level 3 Instruments Only Dollars in millions Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) March 31, 2017 Assets Nonaccrual loans $ 70 LGD percentage Loss severity 6.4%-86.8% (23.3%) 76 Fair value of property or collateral Appraised value/sales price Not meaningful OREO and foreclosed assets 56 Fair value of property or collateral Appraised value/sales price Not meaningful Insignificant assets 9 Total assets $ 211 December 31, 2016 Assets Nonaccrual loans $ 112 LGD percentage Loss severity 6.0%-77.1% (31.3%) 75 Fair value of property or collateral Appraised value/sales price Not meaningful OREO and foreclosed assets 107 Fair value of property or collateral Appraised value/sales price Not meaningful Insignificant assets 19 Total assets $ 313 F inancial Instruments Accounted for u nder 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 6 Fair Value in our 2016 Form 10-K. Fair values and aggregate unpaid principal balances of items for which we elected the fair value option follow. Table 52: Fair Value Option - Fair Value and Principal Balances Aggregate Unpaid In millions Fair Value Principal Balance Difference March 31, 2017 Assets Residential mortgage loans held for sale Performing loans $ 711 $ 684 $ 27 Accruing loans 90 days or more past due 3 3 Nonaccrual loans 9 10 (1) Total 723 697 26 Commercial mortgage loans held for sale (a) Performing loans 578 610 (32) Nonaccrual loans 3 5 (2) Total 581 615 (34) Residential mortgage loans Performing loans 279 320 (41) Accruing loans 90 days or more past due 378 378 Nonaccrual loans 217 339 (122) Total 874 1,037 (163) Other assets 272 278 (6) Liabilities Other borrowed funds $ 57 $ 58 $ (1) December 31, 2016 Assets Residential mortgage loans held for sale Performing loans $ 1,000 $ 988 $ 12 Accruing loans 90 days or more past due 4 4 Nonaccrual loans 6 6 Total 1,010 998 12 Commercial mortgage loans held for sale (a) Performing loans 1,395 1,412 (17) Nonaccrual loans 5 9 (4) Total 1,400 1,421 (21) Residential mortgage loans Performing loans 247 289 (42) Accruing loans 90 days or more past due 427 428 (1) Nonaccrual loans 219 346 (127) Total 893 1,063 (170) Other assets 293 288 5 Liabilities Other borrowed funds $ 81 $ 82 $ (1) (a) There were no accruing loans 90 days or more past due within this category at March 31, 2017 or December 31, 2016. The changes in fair value for items for which we elected the fair value option and are included in Noninterest income and Noninterest expense on the Consolidated Income Statement are as follows. Table 53: Fair Value Option - Changes in Fair Value (a) Gains (Losses) Three months ended March 31 March 31 In millions 2017 2016 Assets Residential mortgage loans held for sale $ 30 $ 47 Commercial mortgage loans held for sale $ 18 $ 27 Residential mortgage loans $ 4 $ 6 Other assets $ 7 $ (27) Liabilities Other liabilities $ (16) (a) The impact on earnings of offsetting hedged items or hedging instruments is not reflected in these amounts. Additional Fair Value Information Related to Financial Instruments Not Recorded at Fair Value The following table presents the carrying amounts and estimated fair values, as well as the level within the fair value hierarchy, of all other financial instruments that are not recorded on the consolidated balance sheet at fair value as of March 31, 2017 and December 31, 2016 . Table 54: Additional Fair Value Information Related to Other Financial Instruments Carrying Fair Value In millions Amount Total Level 1 Level 2 Level 3 March 31, 2017 Assets Cash and due from banks $ 5,003 $ 5,003 $ 5,003 Interest-earning deposits with banks 27,877 27,877 $ 27,877 Securities held to maturity 17,093 17,110 549 16,428 $ 133 Net loans (excludes leases) 201,921 203,319 203,319 Other assets 5,512 6,025 5,387 638 Total assets $ 257,406 $ 259,334 $ 5,552 $ 49,692 $ 204,090 Liabilities Deposits $ 260,710 $ 260,552 $ 260,552 Borrowed funds 53,400 54,134 52,743 $ 1,391 Unfunded loan commitments and letters of credit 305 305 305 Other liabilities 388 388 388 Total liabilities $ 314,803 $ 315,379 $ 313,683 $ 1,696 December 31, 2016 Assets Cash and due from banks $ 4,879 $ 4,879 $ 4,879 Interest-earning deposits with banks 25,711 25,711 $ 25,711 Securities held to maturity 15,843 15,866 540 15,208 $ 118 Net loans (excludes leases) 199,766 201,863 201,863 Other assets 4,793 5,243 4,666 577 Total assets $ 250,992 $ 253,562 $ 5,419 $ 45,585 $ 202,558 Liabilities Deposits $ 257,164 $ 257,038 $ 257,038 Borrowed funds 51,736 52,322 50,941 $ 1,381 Unfunded loan commitments and letters of credit 301 301 301 Other liabilities 417 417 417 Total liabilities $ 309,618 $ 310,078 $ 308,396 $ 1,682 T he aggregate fair values in Table 54 represent only a portion of the total market value of our assets and liabilities as , in accordance with the guidance related to fair values about financial instruments, we exclude the following: financial instruments recorded at fair value on a recurring basis (as they are disclosed in Table 47 ), investments accounted for under the equity method, real and personal property, lease financing, loan customer relationships, deposi t 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 fai r values of financial instruments included in Table 54 , see Note 6 Fair Value in our 2016 Form 10-K. |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 3 Months Ended |
Mar. 31, 2017 | |
Goodwill and Other Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | Note 7 Goodwill and Mortgage Servicing Rights Goodwill See Note 7 Goodwill and Mortgage Servicing Rights in our 2016 F orm 10-K for more information regarding our goodwill . Mortgage Servicing Rights We recognize the right to service mortgage loans for others when we recognize it as an intangible asset and the servicing income we receive is more than adequate compensation. MSRs totaled $1.9 billion and $1.8 billion at March 31, 2017 and December 31 , 2016 , res pectively, 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 prepaym ent of the underlying loans and defaults as well as market driven ch anges 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 decreases (or increases). See the Sensitivity Analysis section of this Note 7 , as well as Note 6 Fair Value in our 2016 Form 10-K for more detail on our fair value measurement of MSRs. Refer to Note 7 Goodwill and Mortgage Servicing Rights in our 2016 Form 10- K for more information on our accounting and measurement of MSRs. Changes in the commercial and residential MSRs follow: Table 55: Mortgage Servicing Rights Commercial MSRs Residential MSRs In millions 2017 2016 2017 2016 January 1 $ 576 $ 526 $ 1,182 $ 1,063 Additions: From loans sold with servicing retained 29 9 17 11 Purchases 13 3 83 52 Changes in fair value due to: Time and payoffs (a) (25) (23) (39) (37) Other (b) 13 (55) 18 (226) March 31 $ 606 $ 460 $ 1,261 $ 863 Related unpaid principal balance at March 31 $ 143,908 $ 143,922 $ 130,382 $ 124,839 Servicing advances at March 31 $ 234 $ 220 $ 260 $ 383 (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, 2017 are shown in Tables 56 and 57 . 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. T he s e model s 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 directio n 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 in Tables 56 and 57 . 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 fa ir 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, c ould result in changes in the interest rate spread), which could either magnify or coun teract 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 56: Commercial Mortgage Loan Servicing Rights - Key Valuation Assumptions March 31 December 31 Dollars in millions 2017 2016 Fair value $ 606 $ 576 Weighted-average life (years) 4.5 4.6 Weighted-average constant prepayment rate 8.14 % 8.61 % Decline in fair value from 10% adverse change $ 11 $ 11 Decline in fair value from 20% adverse change $ 21 $ 21 Effective discount rate 7.58 % 7.52 % Decline in fair value from 10% adverse change $ 17 $ 16 Decline in fair value from 20% adverse change $ 33 $ 31 Table 57: Residential Mortgage Loan Servicing Rights - Key Valuation Assumptions March 31 December 31 Dollars in millions 2017 2016 Fair value $ 1,261 $ 1,182 Weighted-average life (years) 6.9 6.8 Weighted-average constant prepayment rate 9.34 % 9.41 % Decline in fair value from 10% adverse change $ 47 $ 45 Decline in fair value from 20% adverse change $ 90 $ 86 Weighted-average option adjusted spread 850 bps 850 bps Decline in fair value from 10% adverse change $ 39 $ 37 Decline in fair value from 20% adverse change $ 76 $ 72 Fees from mortgage loan servicing, which includes contractually specified servicing fees, late fees and ancillary fees were $ .1 billion for both the three months ended March 31, 2017 and 2016 . 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. |
Employee Benefit Plans
Employee Benefit Plans | 3 Months Ended |
Mar. 31, 2017 | |
Employee Benefit Plans [Abstract] | |
Employee Benefit Plans | Note 8 Employee Benefit Plans Pension a nd Postretirement Plans As described in Note 11 Employee Benefit Plans in our 2016 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. Any pension contributions to the plan 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 variou s plans. We reserve the right to terminate or make changes to these plans at any time. The nonqualified pension plan is unfunded. The comp onents of our net periodi c benefit cost for the three months ended March 31, 2017 and 2016 , respectively, were as follows: Table 58: Components of Net Periodic Benefit Cost Qualified Pension Plan Nonqualified Retirement Plans Postretirement Benefit Three months ended March 31 In millions 2017 2016 2017 2016 2017 2016 Net periodic cost consists of: Service cost $ 26 $ 26 $ 1 $ 1 $ 1 Interest cost 45 46 3 $ 3 4 4 Expected return on plan assets (71) (70) (1) (1) Amortization of prior service credit (1) (2) Amortization of actuarial losses 12 11 1 1 Net periodic cost/(benefit) $ 11 $ 11 $ 5 $ 4 $ 4 $ 4 |
Financial Derivatives
Financial Derivatives | 3 Months Ended |
Mar. 31, 2017 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Financial Derivatives | N ote 9 F inancial D erivatives We use derivative fin ancial instruments 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 a sset 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 1 3 Financial Derivatives in our Notes To Consolidated Financial Statemen ts in our 2016 Form 10-K. The following table presents the notional amounts and gross fair values of all derivative assets and liabilities held by us: Table 59: Total Gross Derivatives March 31, 2017 December 31, 2016 In millions Notional / Contract Amount Asset Fair Value (a) Liability Fair Value (b) Notional / Contract Amount Asset Fair Value (a) Liability Fair Value (b) Derivatives used for hedging under GAAP Interest rate contracts (c): Fair value hedges (d) $ 31,380 $ 216 $ 71 $ 34,010 $ 551 $ 214 Cash flow hedges (d) 18,577 109 1 20,831 313 71 Foreign exchange contracts: Net investment hedges 962 11 945 25 Total derivatives designated for hedging $ 50,919 $ 336 $ 72 $ 55,786 $ 889 $ 285 Derivatives not used for hedging under GAAP Derivatives used for mortgage banking activities (e): Interest rate contracts: Swaps (d) $ 49,790 $ 344 $ 145 $ 49,071 $ 783 $ 505 Futures (f) 33,779 36,264 Mortgage-backed commitments 9,074 41 19 13,317 96 56 Other 47,181 27 8 31,907 28 4 Subtotal 139,824 412 172 130,559 907 565 Derivatives used for customer-related activities: Interest rate contracts: Swaps (d) 177,719 2,252 1,869 173,777 2,373 2,214 Futures (f) 3,763 4,053 . Mortgage-backed commitments 2,687 7 7 2,955 10 8 Other 18,013 74 50 16,203 55 53 Subtotal 202,182 2,333 1,926 196,988 2,438 2,275 Foreign exchange contracts and other 20,880 203 191 21,889 342 309 Subtotal 223,062 2,536 2,117 218,877 2,780 2,584 Derivatives used for other risk management activities: Foreign exchange contracts and other (g) 6,174 18 261 5,581 40 405 Total derivatives not designated for hedging $ 369,060 $ 2,966 $ 2,550 $ 355,017 $ 3,727 $ 3,554 Total gross derivatives $ 419,979 $ 3,302 $ 2,622 $ 410,803 $ 4,616 $ 3,839 Less: Impact of legally enforceable master netting agreements (d) (1,497) (1,497) (2,460) (2,460) Less: Cash collateral received/paid (d) (507) (508) (657) (484) Total derivatives $ 1,298 $ 617 $ 1,499 $ 895 (a) Included in Other assets on our Consolidated Balance Sheet. (b) Included in Other liabilities on our Consolidated Balance Sheet. (c) Represents primarily swaps. (d) In the first quarter of 2017, PNC changed its accounting treatment for variation margin related to certain derivative instruments cleared through a central clearing house. Previously, variation margin was treated as collateral subject to offsetting. As a result of changes made by the clearing house to its rules governing such instruments with its counterparties, effective for the first quarter of 2017, variation margin will be treated as a settlement payment on the derivative instrument. The impact at March 31, 2017 was a reduction of gross derivative assets and gross derivative liabilities by $.8 billion and $.7 billion, respectively. The accounting change had no impact on the net fair value of the derivative assets and liabilities that otherwise would have been reported on our Consolidated Balance Sheet. See Table 63 for more information. (e) Includes both residential and commercial mortgage banking activities. (f) Futures contracts settle in cash daily and, therefore, no derivative asset or derivative liability is recognized on our Consolidated Balance Sheet. (g) Includes our 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. 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, when appropriate, any related cash collateral exchanged with counterparties. Further discussion regarding the offsetting rights associated with these legally enforceable master netting agreements is included in the Offsetting, Counterparty Credit Risk and Contingent Features 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 a re considered cash flow hedges , and derivatives hedging a net investme nt 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. 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 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 for all periods presented . Further detail regarding gains (los ses) on fair value hedge derivatives and related hedged items is presented in the following table: Table 60: Gains (Losses) on Derivatives and Related Hedged Items - Fair Value Hedges (a) Three months ended March 31, 2017 March 31, 2016 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 Agencies and Other Debt Securities Investment securities (interest income) $ 22 $ (21) $ (154) $ 158 Interest rate contracts Subordinated Debt and Bank Notes and Senior Debt Borrowed funds (interest expense) (95) 86 407 (432) Total $ (73) $ 65 $ 253 $ (274) (a) The difference between the gains (losses) recognized in income on derivatives and their related hedged items represents the ineffective portion of the change in value of our fair value hedge derivatives. 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 t o interest income in conjunction with the recognition of interest received on the loans. 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 h edged cash flows affect earnings. In the 12 months that follow March 31, 2017 , we expect to reclassify net derivative gains of $ 159 million pretax, or $ 103 million after-tax, from Accumulated other comprehensive income to interest income for both cash flow hedge strategies. This reclassified 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, 2017 . As of March 31, 2017 , the maximum length of time over which forecasted transactions are hedged is seven years. During the first three months of 2017 and 2016 , there were no gains or losses from cash flow hedge deri vatives reclassified to earnings because it became probable that the original forecasted transaction would not occur. There were no components of derivative gains or losses excluded from the assessment of hedge effectiveness related to either cash flow h edge strategy for all periods presented. Further detail regarding gains (losses) on derivatives and related cash flows is presented in the following table: Table 61: Gains (Losses) on Derivatives and Related Cash Flows - Cash Flow Hedges (a) (b) Three months ended March 31 In millions 2017 2016 Gains (losses) on derivatives recognized in Other comprehensive income (OCI) - (effective portion) $ (22) $ 265 Less: Gains (losses) reclassified from Accumulated other comprehensive income (AOCI) into income - (effective portion) Interest income 52 65 Noninterest income 3 Total gains (losses) reclassified from AOCI into income - (effective portion) $ 55 $ 65 Net unrealized gains (losses) on cash flow hedge derivatives $ (77) $ 200 (a) All cash flow hedge derivatives are interest rate contracts as of March 31, 2017 and March 31, 2016. (b) The amount of cash flow hedge ineffectiveness recognized in income was not significant for the periods presented. Net Investment Hedges We enter into foreign currency forward contract s to hedge non-U.S. Dollar 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. Net investment hedge deri vatives are classified as foreign exchange contracts. There were no components of derivative gains or losses excluded from the assessment of the hedge effectiveness for all periods presented . During the first three months of 2017 and 2016 , the re was no net investment hedge ineffectiveness. Gains (losses) on net investment hedge derivatives recognized in OCI were net losses of $ (14) million for the three months ended March 31, 2017 compared with net gains of $ 29 million for the th ree months ended March 31, 2016 . 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 13 Financial Derivatives in our 2016 Form 10-K. Further detail regarding the gains (losses) on derivatives not designated in hedging relationships is presented in the following table: Table 62: Gains (Losses) on Derivatives Not Designated for Hedging under GAAP Three months ended March 31 In millions 2017 2016 Derivatives used for mortgage banking activities: Interest rate contracts (a) $ (7) $ 241 Derivatives used for customer-related activities: Interest rate contracts $ 34 $ (4) Foreign exchange contracts and other 32 29 Gains (losses) from customer-related activities (b) $ 66 $ 25 Derivatives used for other risk management activities: Foreign exchange contracts and other (c) $ (50) $ (99) Gains (losses) from other risk management activities (b) $ (50) $ (99) Total gains (losses) from derivatives not designated as hedging instruments $ 9 $ 167 (a) Included in Residential mortgage, Corporate services and Other noninterest income. (b) Included in Other noninterest income. (c) Includes BlackRock LTIP funding obligation and the swaps entered into in connection with sales of a portion of Visa Class B common shares. Offse tting, 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 th e closeout netting of all outstanding derivative instruments under the master netting agreement with the same counterparty upon the occurrence of an event of default. The master netting agreement also may require the exchange of cash or marketable securiti es to collateralize either party’s net position. For additional information on derivative offsetting, counterparty credit risk and contingent features see Note 13 Financial Derivatives in our 2016 Form 10-K. Table 63 shows the impact legally enforceable master netting agreements had on our derivative assets and derivative liabilities as of March 31, 2017 and December 31, 2016 . The table includes cash collateral held or pledged under legally enforceable m aster netting agreements. 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 re lated net derivative fair values. Table 63: Derivative Assets and Liabilities Offsetting Gross Fair Value Amounts Offset on the Consolidated Balance Sheet Net Fair Value Securities Collateral Held / (Pledged) Net Amounts March 31, 2017 Fair Value Offset Amount Cash Collateral Under Master Netting Agreements In millions Derivative assets Interest rate contracts: Cleared (a) $ 556 $ 157 $ 366 $ 33 $ 33 Exchange-traded 10 10 10 Over-the-counter 2,504 1,216 137 1,151 $ 54 1,097 Foreign exchange and other contracts 232 124 4 104 104 Total derivative assets $ 3,302 $ 1,497 $ 507 $ 1,298 (b) $ 54 $ 1,244 Derivative liabilities Interest rate contracts: Cleared (a) $ 176 $ 157 $ 19 $ 19 Exchange-traded 2 2 2 Over-the-counter 1,992 1,238 $ 490 264 264 Foreign exchange and other contracts 452 102 18 332 332 Total derivative liabilities $ 2,622 $ 1,497 $ 508 $ 617 (c) $ 617 December 31, 2016 In millions Derivative assets Interest rate contracts: Cleared $ 1,498 $ 940 $ 480 $ 78 $ 78 Exchange-traded 9 9 9 Over-the-counter 2,702 1,358 164 1,180 $ 62 1,118 Foreign exchange and other contracts 407 162 13 232 232 Total derivative assets $ 4,616 $ 2,460 $ 657 $ 1,499 (b) $ 62 $ 1,437 Derivative liabilities Interest rate contracts: Cleared $ 1,060 $ 940 $ 25 $ 95 $ 95 Exchange-traded 1 1 1 Over-the-counter 2,064 1,395 431 238 238 Foreign exchange and other contracts 714 125 28 561 561 Total derivative liabilities $ 3,839 $ 2,460 $ 484 $ 895 (c) $ 895 (a) Reflects our first quarter 2017 change in accounting treatment for variation margin for certain derivative instruments cleared through a central clearing house. The accounting change reduced the asset and liability gross fair values with corresponding reductions to the fair value and cash collateral offsets, resulting in no changes to the net fair value amounts. (b) Represents the net amount of derivative assets included in Other assets on our Consolidated Balance Sheet. (c) Represents the net amount of derivative liabilities included in Other liabilities on our Consolidated Balance Sheet. Table 63 includes over-the-counter (OTC) derivatives, cleared derivatives and exchange-traded derivatives. OTC derivatives represent contracts executed bilaterally with counterparties that are not settled through an organized exchange or cleared through a central clearing house. The majority of OTC derivatives are governed by ISDA documentation or other legally enforceable industry standard master netting agreements. Cleared derivatives represent contracts executed bilaterally with counterparties in the OTC market that are novated to a central clearing house who then becomes our counterparty. Exchange-traded derivatives represent standardized futures and options contracts executed directly on an organized exchange. In addition to using master netting agreements and other collateral agreements to reduce credit risk associated with derivative instruments, we also seek to manage credit risk by evaluating credit ratings of counterparties and by using internal credit analysis, limits and monitoring procedures. At March 31, 2017 , we held cash, U . S . government securities and mortgage-backed securities totaling $ .8 billion under master netting agreements and other collateral agreements to collateralize net derivative assets due from counterparties, and we pledged cash totaling $ 1.3 billion under these agreements to collateralize net derivative liabilities owed to counterparties and to meet initial margin requirements . These totals may differ from the amounts presented in the preceding offsetting table because these totals 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 f air values with the counterparty as of the balance sheet date due to timing or other factors, such as initial margin. To the extent not netted against the derivative fair values 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 liabilities on our Consolidated Balance Sheet. Securities held from counterparties are not recognized on our balance sheet. Likewise securities we have pledged to counterparties remain o n our balance sheet. Certain derivative agreements contain various credit-risk related contingent provisions, such as those that require our debt to maintain a specified credit rating from one or more of the major credit rating agencies. If our debt rati ngs were to fall below such specified ratings, the counterparties to the derivative instruments could request immediate payment or demand immediate and ongoing full 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, 2017 was $ 1.0 billion for whi ch we had posted collateral of $ .5 billion in the normal course of business. The maximum additional amount of collateral we would have been required to post if the credit-risk-related contingent features underlying these agreements had been triggered on March 31, 2017 w ould be $ .5 billion. |
Earnings per Share
Earnings per Share | 3 Months Ended |
Mar. 31, 2017 | |
Earnings per Share | |
Earnings per Share | NOTE 10 EARNINGS PER SHARE Table 64: Basic and Diluted Earnings Per Common Share Three months ended March 31 In millions, except per share data 2017 2016 Basic Net income $ 1,074 $ 943 Less: Net income attributable to noncontrolling interests 17 19 Preferred stock dividends 63 63 Preferred stock discount accretion and redemptions 21 2 Net income attributable to common shares 973 859 Less: Dividends and undistributed earnings allocated to participating securities 6 6 Net income attributable to basic common shares $ 967 $ 853 Basic weighted-average common shares outstanding 487 501 Basic earnings per common share (a) $ 1.99 $ 1.70 Diluted Net income attributable to basic common shares $ 967 $ 853 Less: Impact of BlackRock earnings per share dilution 4 3 Net income attributable to diluted common shares $ 963 $ 850 Basic weighted-average common shares outstanding 487 501 Dilutive potential common shares 5 6 Diluted weighted-average common shares outstanding 492 507 Diluted earnings per common share (a) $ 1.96 $ 1.68 (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 and restricted share units with nonforfeitable dividends and dividend rights (participating securities). |
Total Equity and Other Comprehe
Total Equity and Other Comprehensive Income | 3 Months Ended |
Mar. 31, 2017 | |
Other Comprehensive Income [Abstract] | |
Total Equity And Other Comprehensive Income Disclosure [Text Block] | Note 11 Total Equity And Other Comprehensive Income Activity in total equity for the first three months of 2016 and 2017 follows: Table 65: Rollforward of Total Equity 1 Shareholders' Equity In millions Shares Outstanding Common Stock Common Stock Capital Surplus - Preferred Stock Capital Surplus - Common Stock and Other Retained Earnings Accumulated Other Comprehensive Income (Loss) Treasury Stock Non-controlling Interests Total Equity Balance at January 1, 2016 504 $ 2,708 $ 3,452 $ 12,745 $ 29,043 $ 130 $ (3,368) $ 1,270 $ 45,980 Net income 924 19 943 Other comprehensive income (loss), net of tax 402 402 Cash dividends declared Common ($.51 per share) (260) (260) Preferred (64) (64) Preferred stock discount accretion 1 (1) Common stock activity (a) 2 2 Treasury stock activity (5) (11) (423) (434) Other (150) (91) (241) Balance at March 31, 2016 (b) 499 $ 2,708 $ 3,453 $ 12,586 $ 29,642 $ 532 $ (3,791) $ 1,198 $ 46,328 Balance at January 1, 2017 485 $ 2,709 $ 3,977 $ 12,674 $ 31,670 $ (265) $ (5,066) $ 1,155 $ 46,854 Net income 1,057 17 1,074 Other comprehensive income (loss), net of tax (14) (14) Cash dividends declared Common ($.55 per share) (271) (271) Preferred (63) (63) Preferred stock discount accretion 2 (2) Redemption of noncontrolling interests (19) (981) (1,000) Treasury stock activity (c) (216) (257) (473) Other (162) (42) (204) Balance at March 31, 2017 (b) 485 $ 2,709 $ 3,979 $ 12,296 $ 32,372 $ (279) $ (5,323) $ 149 $ 45,903 (a) Common stock activity totaled less than .5 million shares issued. (b) The par value of our preferred stock outstanding was less than $.5 million at each date and, therefore, is excluded from this presentation. (c) Treasury stock activity totaled less than .5 million shares issued. Warrants We had 5.6 million warrants outstanding at March 31, 2017 and 11.3 million warrants outstanding at December 31, 2016 . 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. The outstanding warrants will expire as of December 31, 2018 and are considered in the calculation of diluted earnings per common share in Note 10 Earnings Per Share in this Report. Noncontrolling Interests Perp etual Trust Securities Our noncontrolling interests balance at March 31, 2017 reflected our March 15, 2017 redemption of $1.0 billion Fixed-to-Floating Rate Non-Cumulative Exchangeable Perpetual Trust Securities issued by PNC Preferred Funding Trusts I and II with current distribution rates of 2.61% and 2.19%, respectively . The Perpetual Trust Securities were subject to replacement capital covenants dated December 6, 2006 and March 29, 2007 benefiting PNC Capital Trust C as the sole holder of $200 million o f junior subordinated debentures issued by PNC in June 1998. Upon redemption of the Perpetual Trust Securities, the replacement capital covenants terminated and such debentures ceased being covered debt with respect to the replacement capital covenants. Details of other comprehensive income (loss) are as follows: Table 66: Other Comprehensive Income Three Months Ended March 31 In millions 2017 2016 Net unrealized gains (losses) on non-OTTI securities Increase in net unrealized gains (losses) on non-OTTI securities $ 67 $ 519 Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income 5 6 Less: Net gains (losses) realized on sales of securities reclassified to noninterest income (7) 9 Net increase (decrease), pre-tax 69 504 Effect of income taxes (25) (185) Net increase (decrease), after-tax 44 319 Net unrealized gains (losses) on OTTI securities Increase in net unrealized gains (losses) on OTTI securities 37 (39) Less: OTTI losses realized on securities reclassified to noninterest income (1) Less: Net gains (losses) realized on sales of securities reclassified to noninterest income 2 Net increase (decrease), pre-tax 35 (38) Effect of income taxes (13) 14 Net increase (decrease), after-tax 22 (24) Net unrealized gains (losses) on cash flow hedge derivatives Increase in net unrealized gains (losses) on cash flow hedge derivatives (22) 265 Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income 46 60 Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income 6 5 Less: Net gains (losses) realized on sales of securities reclassified to noninterest income 3 Net increase (decrease), pre-tax (77) 200 Effect of income taxes 28 (73) Net increase (decrease), after-tax (49) 127 Pension and other postretirement benefit plan adjustments Net pension and other postretirement benefit activity (74) 2 Amortization of actuarial loss (gain) reclassified to other noninterest expense 13 12 Amortization of prior service cost (credit) reclassified to other noninterest expense (1) (2) Net increase (decrease), pre-tax (62) 12 Effect of income taxes 23 (4) Net increase (decrease), after-tax (39) 8 Other PNC's portion of BlackRock's OCI 2 (25) Net investment hedge derivatives (14) 29 Foreign currency translation adjustments and other 16 (29) SBA I/O Strip sold (2) Net increase (decrease), pre-tax 4 (27) Effect of income taxes 4 (1) Net increase (decrease), after-tax 8 (28) Total other comprehensive income (loss), pre-tax (31) 651 Total other comprehensive income, tax effect 17 (249) Total other comprehensive income (loss), after-tax $ (14) $ 402 Table 67: Accumulated Other Comprehensive Income (Loss) Components In millions, after-tax Net unrealized gains (losses) on non-OTTI securities Net unrealized gains (losses) on OTTI securities Net unrealized gains (losses) on cash flow hedge derivatives Pension and other postretirement benefit plan adjustments Other Total Balance at December 31, 2015 $ 286 $ 66 $ 430 $ (554) $ (98) $ 130 Net activity 319 (24) 127 8 (28) 402 Balance at March 31, 2016 $ 605 $ 42 $ 557 $ (546) $ (126) $ 532 Balance at December 31, 2016 $ 52 $ 106 $ 333 $ (553) $ (203) $ (265) Net activity 44 22 (49) (39) 8 (14) Balance at March 31, 2017 $ 96 $ 128 $ 284 $ (592) $ (195) $ (279) |
Legal Proceedings
Legal Proceedings | 3 Months Ended |
Mar. 31, 2017 | |
Legal Proceedings [Abstract] | |
Legal Proceedings | N OTE 12 L egal P roceedings 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 ra nges 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 12 as well as those matters disc losed in Note 19 Legal Proceedings in the Notes To Consolidated Financial Statements in our 2016 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 pos sible losses, as of March 31, 2017, we estimate that it is reasonably possible that we could incur losses in an aggregate amount of up to approximately $ 425 million. The estimates included in this amount are based on our analysi s 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 unpredictabilit y 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. As a result of the types of factors described in Note 19 in our 2016 Form 10-K, 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 Discl osed 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 b elow 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 a vailable 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 t hat are deemed probable up to the amount of the accrual) or in determining any estimates of possible losses or ranges of possible losses. Interchange Litigation In March 2017, the U.S. Supreme Court denied the petition for a writ of certiorari challenging the decision of the U.S. Court of Appeals for the Second Circuit’s reversal of the order approving a settlement in the cases that had been consolidated for pre-trial proceedings in the U.S. District Court for the Eastern District of New York under the cap tion In re Payment Card Interchange Fee and Merchant-Discount Antitrust Litigation (Master File No. 1:05-md-1720-JG-JO). CBNV Mortgage Litigation Between 2001 and 2003, on behalf of either individual plaintiffs or proposed classes of plaintiffs, several s eparate lawsuits were filed in state and federal courts against Community Bank of Northern Virginia (CBNV), a PNC Bank predecessor, and other defendants asserting claims arising from second mortgage loans made to the plaintiffs. The state lawsuits were rem oved to federal court and, with the lawsuits that had been filed in federal court, were consolidated for pre-trial proceedings in a multidistrict litigation (MDL) proceeding in the U.S. District Court for the Western District of Pennsylvania under the capt ion In re: Community Bank of Northern Virginia Lending Practices Litigation (No. 03-0425 (W.D. Pa.), MDL No. 1674). In October 2011, the plaintiffs filed a joint consolidated amended class action complaint covering all of the class action lawsuits pendi ng in this proceeding. The amended complaint named several defendants, including CBNV. As relevant to CBNV, the principal allegations in the amended complaint were that a group of persons and entities collectively characterized as the “Shumway/Bapst Organi zation” referred prospective second residential mortgage loan borrowers to CBNV, that CBNV charged these borrowers improper title and loan fees at loan closings, that the disclosures provided to the borrowers at loan closings were inaccurate, and that CBNV paid some of the loan fees to the Shumway/Bapst Organization as purported “kickbacks” for the referrals. The amended complaint asserted claims for violations of the Real Estate Settlement Procedures Act (RESPA), the Truth in Lending Act (TILA), as amended by the Home Ownership and Equity Protection Act (HOEPA), and the Racketeer Influenced and Corrupt Organizations Act (RICO). The amended complaint sought to certify a class of all borrowers who obtained a second residential non-purchase money mortgage loa n, secured by their principal dwelling, including from CBNV, the terms of which made the loan subject to HOEPA. The plaintiffs sought, among other things, unspecified damages (including treble damages under RICO and RESPA), rescission of loans, declaratory and injunctive relief, interest and attorneys’ fees. In November 2011, the defendants filed a motion to dismiss the amended complaint. In June 2013, the court granted in part and denied in part the motion, dismissing the claims of any plaintiff whose loan did not originate with or was not assigned to CBNV, narrowing the scope of the RESPA claim, and dismissing several of the named plaintiffs for lack of standing. Also in June 2013, the plaintiffs filed a motion for class certification, which was granted in July 2013. In July 2015, the U.S. Court of Appeals for the Third Circuit affirmed the grant of class certification by the district court. In November 2015, we filed a petition for a writ of certiorari with the U.S. Supreme Court seeking review of the deci sion of the court of appeals, which was denied in February 2016. We filed motions with the district court for decertification and summary judgment in April 2016. In August 2016, we reached a settlement with the plaintiffs. In December 2016, the court gran ted final approval of the settlement. Under this settlement, the matter was submitted to binding arbitration in February 2017 before a panel of three arbitrators, who were to determine whether we would pay the plaintiff class either an amount (inclusive of class counsel fees and expenses) we proposed ($24 million) or an amount proposed by the plaintiffs ($70 million), with no discretion to choose any other amount. The arbitrators reached a unanimous decision in March 2017 deciding in favor of our position a nd awarding the plaintiffs a total of $24 million. Captive Mortgage Reinsurance Litigation In March 2017, in the lawsuit currently pending against PNC (as successor in interest to National City Corporation and several of its subsidiaries) in the U.S. Dis trict Court for the Eastern District of Pennsylvania under the caption White, et al. v. The PNC Financial Services Group, Inc., et al. (Civil Action No. 11-7928), the district court certified the issue as to whether the plaintiffs’ claim under RESPA is not barred by the statute of limitations under the “continuing violations doctrine” for interlocutory appeal to the U.S. Court of Appeals for the Third Circuit and stayed the action. Also in March 2017, the court of appeals declined to accept the appeal, and as a resu lt proceedings will resume in the district court. Other Regulatory and Governmental Inquiries We are the subject of investigations, audits and other forms of regulatory and governmental inquiry covering a broad range of issues in our consumer, mortgage, brokerage, securities and other financial services businesses, as well as other aspects of our operations. In some cases, these inquiries are part of reviews of specified activities at multiple industry participants; in others, they are directed at PNC ind ividually. 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 and other consequences. These inquiries may result in significant reputational harm or other adverse collateral consequences even if direct resulting remedies are not material to us. Our practice is to cooperate f ully 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 th e 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. |
Commitments
Commitments | 3 Months Ended |
Mar. 31, 2017 | |
Commitments [Abstract] | |
Commitments | Note 13 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, 2017 and December 31, 2016 , respectively. Table 68: Commitments to Extend Credit and Other Commitments March 31 December 31 In millions 2017 2016 Commitments to extend credit Total commercial lending $ 106,308 $ 108,256 Home equity lines of credit 17,719 17,438 Credit card 22,807 22,095 Other 4,431 4,192 Total commitments to extend credit 151,265 151,981 Net outstanding standby letters of credit (a) 8,558 8,324 Reinsurance agreements (b) 1,766 1,835 Standby bond purchase agreements (c) 788 790 Other commitments (d) 1,073 967 Total commitments to extend credit and other commitments $ 163,450 $ 163,897 (a) Net outstanding standby letters of credit include $3.9 billion at both March 31, 2017 and December 31, 2016, which support remarketing programs. (b) Represents aggregate maximum exposure up to the specified limits of the reinsurance contracts and reflects estimates based on availability of financial information from insurance carriers. As of March 31, 2017 and December 31, 2016, the aggregate maximum exposure amount comprised $1.5 billion for accidental death & dismemberment contracts and $.3 billion for credit life, accident & health contracts. (c) We enter into standby bond purchase agreements to support municipal bond obligations. (d) Includes $.5 billion related to investments in qualified affordable housing projects at both March 31, 2017 and December 31, 2016. 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 c ommitments generally have fixed expiration dates, may require payment of a fee and contain termination clauses in the event the customer ’s credit quality deteriorates. Net Outstanding Standby Letters of Credit We issue standby letters of credit and share in the risk of standby letters of credit issued b y 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 pro duct execution. Approximately 91 % and 94 % of our net outstanding standby letters of credit were rated as Pass as of March 31, 2017 and December 31, 2016 , respectively, with the remainder rated as Below Pass. An internal credit rating of Pass indicates the expected risk of loss is currently low, while a rating of Below Pass indicates a higher degree of risk. 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, 2017 had terms ranging from less tha n 1 year to 8 years. As of March 31, 2017 , assets of $ 1.2 billion 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’ othe r 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 $ .2 billion at March 31, 2017 and is included in Other liabil ities on our Consolidated Balance Sheet. |
Segment Reporting
Segment Reporting | 3 Months Ended |
Mar. 31, 2017 | |
Segment Reporting [Abstract] | |
Segment Reporting | Note 14 Segment Reporting Effective for the first quarter of 2017, as a result of changes to how we manage our businesses, we realigned our segments and, accordingly, have changed the basis of presentation of our segments, resulting in four reportable business segments: Retail Banking Corporate & Institutional Banking Asset Management Group BlackRock Net interest income in business segment results reflects our 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. Effective for the first quarter of 2017, we made certain adjustments to our in ternal funds transfer pricing methodology primarily relating to weighted average lives of certain non-maturity deposits based on our recent historical experience . These changes in methodology affected business segment results, primarily adversely impacting net interest income for Corporate & Insti tutional Banking and Retail Banking, offset by increased net interest income in the “Other” category. The prior period presented was revised to conform to the new segment alignment and to our change in internal funds transfer pricing methodology. Result s 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 busine sses 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 significant and practicable, retrospective application of ne w methodologies is made to prior period reportable business segment results and disclosures to create comparability with the current period. Total business segment financial results differ from total consolidated net income. The impact of these difference s 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, integrati on 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, certain non-strategic runoff consumer loan portfolios, 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. 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. Our allocation of the costs incurred by shared support areas not directly aligned with the businesses is primarily based on the use of services. 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 amo ng the business segments, ultimately reflecting our 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 busi ness 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. Business Segment Products and Services Retail Banking provides deposit, lending, brokerage, investment management and cash management products and services to consumer and small business customers within our primary geographic ma rkets. 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, Florida, North Carolina, Kentucky, Washington, D.C., Delaware, Virginia, Georgia, Alabama, Missouri, Wisconsin and South Carolina. Deposit products include checking, savings and money market accounts and certificates of deposit. Lending products include residential mortgages, hom e equity loans and lines of credit, auto loans, credit cards, education loans and personal loans and lines of credit. The residential mortgage loans are directly originated within our branch network and nationwide, and are typically underwritten to governm ent agency and/or third-party standards, and either sold, servicing retained, or held on our balance sheet. Our mortgage servicing operation performs all functions related to servicing residential mortgage loans for investors and for loans we own. Brokerag e, investment management and cash management products and services include managed accounts, education accounts, retirement accounts and trust and estate services. 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 investme nt 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, merg ers and acquisitions advisory and equity capital markets advisory related services. We also provide commercial loan servicing 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 provides personal wealth management for high net worth and ultra high net worth clients and institutional asset management. Wealt h 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. Our Hawthorn unit provid es multi-generational family planning including estate, financial, tax planning, fiduciary, investment management and consulting, private banking, personal administrative services, asset custody and customized performance reporting to ultra high net worth families. Institutional asset management provides advisory, custody and retirement administration services. The business also offers PNC proprietary mutual funds. Institutional clients include corporations, unions, municipalities, non-profits, foundations and endowments, primarily located in our geographic footprint. BlackRock , in which we hold an equity investment, 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 class es, 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, advisory and technology services and solutions to a broad base of institutional and wealth management investors. Our equity investment in BlackRock provides us with an additional sour ce of noninterest income and increases our overall revenue diversification. 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, 2017 , our economic interest in BlackRock was 22% . We received cash dividends from BlackRock of $ 89 million and $ 83 million during the first three months of 2017 and 2016 , re spectively. Table 69: Results of Businesses Corporate & Asset Three months ended March 31 Retail Institutional Management In millions Banking Banking Group BlackRock Other Consolidated (a) 2017 Income Statement Net interest income $ 1,120 $ 802 $ 71 $ 167 $ 2,160 Noninterest income 603 524 218 $ 186 193 1,724 Total revenue 1,723 1,326 289 186 360 3,884 Provision for credit losses (benefit) 71 25 (2) (6) 88 Depreciation and amortization 42 36 11 125 214 Other noninterest expense 1,273 548 206 161 2,188 Income before income taxes and noncontrolling interests 337 717 74 186 80 1,394 Income taxes (benefit) 124 233 27 41 (105) 320 Net income $ 213 $ 484 $ 47 $ 145 $ 185 $ 1,074 Average Assets (b) $ 87,109 $ 142,592 $ 7,476 $ 6,983 $ 122,256 $ 366,416 2016 Income Statement Net interest income $ 1,121 $ 785 $ 77 $ 115 $ 2,098 Noninterest income 633 441 203 $ 141 149 1,567 Total revenue 1,754 1,226 280 141 264 3,665 Provision for credit losses (benefit) 72 102 (3) (19) 152 Depreciation and amortization 44 36 11 111 202 Other noninterest expense 1,255 497 195 132 2,079 Income before income taxes and noncontrolling interests 383 591 77 141 40 1,232 Income taxes (benefit) 140 193 28 27 (99) 289 Net income $ 243 $ 398 $ 49 $ 114 $ 139 $ 943 Average Assets (b) $ 86,213 $ 137,270 $ 7,887 $ 6,775 $ 117,768 $ 355,913 (a) There were no material intersegment revenues for the three months ended March 31, 2017 and 2016. (b) Period-end balances for BlackRock. |
Accounting Policies (Policy)
Accounting Policies (Policy) | 3 Months Ended |
Mar. 31, 2017 | |
Accounting Policies [Abstract] | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | Notes To Consolidated Financial Statements The PNC Financial Services Group, Inc. Unaudited B usiness The PNC Financial Services Group, Inc. (PNC) is one of the largest diversified financial services companies in the United States and is headquartered in Pittsburgh, Pennsylvania. We have businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management, providing many of our products and services nationally. Our primary geographic markets are lo cated in Pennsylvania, Ohio, New Jersey, Michigan, Illinois, Maryland, Indiana, Florida, North Carolina, Kentucky, Washington, D.C., Delaware, Virginia, Georgia, Alabama, Missouri, Wisconsin and South Carolina. We also provide certain products and services internationally. N ote 1 A ccounting P olicies Basis o f Financial Statement Presentation Our consolidated financial statements include the accounts of the parent company and its subsidiaries, most of which are wholly-owned, 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 account s and transactions. We have also reclassified certain prior year amounts to conform to the 2017 presentation, which did not have a material impact on our consolidated financial cond ition or results of operations. 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 ye ar or any other interim period. We have also considered the impact of subsequent events on these consolidated financial statements. When preparing these unaudited interim consolidated financial statements, we have assumed that you have read the audited consolidated financial statements included in our 2016 Annual Report on Form 10-K . Reference is made to Note 1 Accounting Policies in the 2016 Form 10-K for a detailed description of significa nt accounting policies. There have been no significant changes to our accounting policies as disclosed in the 2016 An nual Report on Form 10-K. These interim consolidated financial statements serve to update the 2016 Form 10-K and may not include al l information and notes necessary to constitute a complete set of financial statements. |
Use of Estimates, Policy [Policy Text Block] | 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 and allowances for loan and lease losses and unfunded loan commitments and letters of credit . Actual results may differ from the estimates and the differences may be material to the consolidated financial statements. |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Recently Adopted Accounting Standards We did not adopt any new accounting standards that had a significant impact during the first quarter of 2017 . |
Loan Sale and Servicing Activ22
Loan Sale and Servicing Activities and Variable Interest Entities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Loan Sale and Servicing Activities and Variable Interest Entities [Abstract] | |
Cash Flows Associated with Loan Sale and Servicing Activities | Table 31: Cash Flows Associated with Loan Sale and Servicing Activities Residential Commercial In millions Mortgages Mortgages (a) CASH FLOWS - Three months ended March 31, 2017 Sales of loans (b) $ 1,594 $ 1,617 Repurchases of previously transferred loans (c) $ 131 Servicing fees (d) $ 94 $ 33 Servicing advances recovered/(funded), net $ 42 $ 31 Cash flows on mortgage-backed securities held (e) $ 349 $ 129 CASH FLOWS - Three months ended March 31, 2016 Sales of loans (b) $ 1,438 $ 650 Repurchases of previously transferred loans (c) $ 160 Servicing fees (d) $ 93 $ 30 Servicing advances recovered/(funded), net $ 28 $ 31 Cash flows on mortgage-backed securities held (e) $ 352 $ 105 (a) Represents cash flow information associated with both commercial mortgage loan transfer and servicing activities. (b) Gains/losses recognized on sales of loans were insignificant. (c) Includes residential mortgage government insured or guaranteed loans eligible for repurchase through the exercise of our removal of account provision option, and loans repurchased due to alleged breaches of origination covenants or representations and warranties made to purchasers. (d) Includes contractually specified servicing fees, late charges and ancillary fees. (e) Represents cash flows on securities we hold issued by a securitization SPE in which we transferred to and/or services loans. The carrying values of such securities held were $6.9 billion in residential mortgage-backed securities and $.7 billion in commercial mortgage-backed securities at March 31, 2017 and $6.6 billion in residential mortgage-backed securities and $1.2 billion in commercial mortgage-backed securities at March 31, 2016. Additionally, at December 31, 2016, the carrying values of such securities held were $6.9 billion in residential mortgage-backed securities and $.9 billion in commercial mortgage-backed securities. |
Principal Balance, Delinquent Loans (Loans 90 Days or More Past Due), and Net Charge-Offs Related to Serviced Loans | Table 32: Principal Balance, Delinquent Loans and Net Charge-offs Related to Serviced Loans For Others Residential Commercial In millions Mortgages Mortgages (a) March 31, 2017 Total principal balance $ 64,825 $ 45,043 Delinquent loans (b) $ 1,248 $ 1,148 December 31, 2016 Total principal balance $ 66,081 $ 45,855 Delinquent loans (b) $ 1,422 $ 941 Three months ended March 31, 2017 Net charge-offs (c) $ 25 $ 355 Three months ended March 31, 2016 Net charge-offs (c) $ 26 $ 912 (a) Represents information at the securitization level in which we have sold loans and we are the servicer for the securitization. (b) Serviced delinquent loans are 90 days or more past due or are in process of foreclosure. (c) Net charge-offs for Residential mortgages 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 commercial mortgage backed 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. |
Non-Consolidated VIEs | Table 33: Non-Consolidated VIEs PNC Risk of Loss (a) Carrying Value of Assets Owned by PNC Carrying Value of Liabilities Owned by PNC In millions March 31, 2017 Mortgage-Backed Securitizations (b) $ 7,771 $ 7,771 (c) Tax Credit Investments and Other 3,194 3,173 (d) $ 865 (e) Total $ 10,965 $ 10,944 $ 865 December 31, 2016 Mortgage-Backed Securitizations (b) $ 8,003 $ 8,003 (c) Tax Credit Investments and Other 3,083 3,043 (d) $ 823 (e) Total $ 11,086 $ 11,046 $ 823 (a) This represents loans, investments and other assets related to non-consolidated VIEs, net of collateral (if applicable). (b) Amounts reflect involvement with securitization SPEs where we transferred to and/or services loans for an SPE and we hold securities issued by that SPE. Values disclosed in the PNC Risk of Loss column represent our maximum exposure to loss for those securities’ holdings. (c) Included in Investment securities and Other assets on our Consolidated Balance Sheet. (d) Included in Investment securities, Loans, Equity investments and Other assets on our Consolidated Balance Sheet. (e) Included in Deposits and Other liabilities on our Consolidated Balance Sheet. |
Asset Quality (Tables)
Asset Quality (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Asset Quality [Abstract] | |
Analysis of Loan Portfolio | Table 34: Analysis of Loan Portfolio (a) Accruing Current or Less 30-59 60-89 90 Days Total Fair Value Option Purchased Than 30 Days Days Days Or More Past Nonperforming Nonaccrual Impaired Total Dollars in millions Past Due Past Due Past Due Past Due Due (b) Loans Loans (c) Loans Loans (d) March 31, 2017 Commercial Lending Commercial $ 103,217 $ 62 $ 29 $ 40 $ 131 $ 400 $ 17 $ 103,765 Commercial real estate 29,212 15 6 21 137 65 29,435 Equipment lease financing 7,431 19 19 12 7,462 Total commercial lending 139,860 96 35 40 171 549 82 140,662 Consumer Lending Home equity 27,541 57 23 80 900 1,056 29,577 Residential real estate 12,787 122 77 432 631 (b) 473 $ 217 1,673 15,781 Credit card 5,018 32 21 37 90 4 5,112 Other consumer Automobile 12,226 35 10 5 50 61 12,337 Education and other 8,984 116 61 185 362 (b) 11 9,357 Total consumer lending 66,556 362 192 659 1,213 1,449 217 2,729 72,164 Total $ 206,416 $ 458 $ 227 $ 699 $ 1,384 $ 1,998 $ 217 $ 2,811 $ 212,826 Percentage of total loans 96.99 % .22 % .11 % .33 % .65 % .94 % .10 % 1.32 % 100.00 % December 31, 2016 Commercial Lending Commercial $ 100,710 $ 81 $ 20 $ 39 $ 140 $ 496 $ 18 $ 101,364 Commercial real estate 28,769 5 2 7 143 91 29,010 Equipment lease financing 7,535 29 1 30 16 7,581 Total commercial lending 137,014 115 23 39 177 655 109 137,955 Consumer Lending Home equity 27,820 64 30 94 914 1,121 29,949 Residential real estate 12,425 159 68 500 727 (b) 501 $ 219 1,726 15,598 Credit card 5,187 33 21 37 91 4 5,282 Other consumer Automobile 12,257 51 12 5 68 55 12,380 Education and other 9,235 140 78 201 419 (b) 15 9,669 Total consumer lending 66,924 447 209 743 1,399 1,489 219 2,847 72,878 Total $ 203,938 $ 562 $ 232 $ 782 $ 1,576 $ 2,144 $ 219 $ 2,956 $ 210,833 Percentage of total loans 96.73 % .27 % .11 % .37 % .75 % 1.02 % .10 % 1.40 % 100.00 % (a) Amounts in table represent recorded investment and exclude loans held for sale. 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) 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. Past due loan amounts include government insured or guaranteed Residential real estate mortgages totaling $.6 billion and $.6 billion and Education and other consumer loans totaling $.3 billion and $.4 billion at March 31, 2017 and December 31, 2016, respectively. (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 $1.2 billion and $1.3 billion at March 31, 2017 and December 31, 2016, respectively. |
Nonperforming Assets | Table 35: Nonperforming Assets March 31 December 31 Dollars in millions 2017 2016 Nonperforming loans Total commercial lending $ 549 $ 655 Total consumer lending (a) 1,449 1,489 Total nonperforming loans (b) 1,998 2,144 OREO, foreclosed and other assets 214 230 Total nonperforming assets $ 2,212 $ 2,374 Nonperforming loans to total loans .94 % 1.02 % Nonperforming assets to total loans, OREO, foreclosed and other assets 1.04 % 1.12 % Nonperforming assets to total assets .60 % .65 % (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) The recorded investment of loans collateralized by residential real estate property that are in process of foreclosure was $.4 billion at both March 31, 2017 and December 31, 2016, which included $.2 billion of loans that are government insured/guaranteed. |
Commercial Lending Asset Quality Indicators | Table 36: Commercial Lending Asset Quality Indicators (a) Criticized Commercial Loans Pass Special Total In millions Rated Mention (b) Substandard (c) Doubtful (d) Loans March 31, 2017 Commercial $ 98,379 $ 1,894 $ 3,367 $ 125 $ 103,765 Commercial real estate 28,983 122 309 21 29,435 Equipment lease financing 7,294 70 92 6 7,462 Total commercial lending $ 134,656 $ 2,086 $ 3,768 $ 152 $ 140,662 December 31, 2016 Commercial $ 96,231 $ 1,612 $ 3,449 $ 72 $ 101,364 Commercial real estate 28,561 98 327 24 29,010 Equipment lease financing 7,395 89 91 6 7,581 Total commercial lending $ 132,187 $ 1,799 $ 3,867 $ 102 $ 137,955 (a) Loans are classified as "Pass", "Special Mention", "Substandard" and "Doubtful" based on the Regulatory Classification definitions. We use PDs and LGDs to rate commercial loans and 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 this table. (b) 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 the reporting date. (c) 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. (d) 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 Asset Quality Indicators | Table 37: Asset Quality Indicators for Home Equity and Residential Real Estate Loans – Excluding Purchased Impaired and Government Insured or Guaranteed Loans (a) Home Equity Residential Real Estate March 31, 2017 - in millions 1st Liens 2nd Liens Total Current estimated LTV ratios Greater than or equal to 125% and updated FICO scores: Greater than 660 $ 149 $ 576 $ 146 $ 871 Less than or equal to 660 (b) 25 101 33 159 Missing FICO 1 9 3 13 Greater than or equal to 100% to less than 125% and updated FICO scores: Greater than 660 360 1,112 320 1,792 Less than or equal to 660 (b) 67 200 81 348 Missing FICO 3 10 5 18 Greater than or equal to 90% to less than 100% and updated FICO scores: Greater than 660 430 1,047 431 1,908 Less than or equal to 660 69 161 75 305 Missing FICO 2 8 6 16 Less than 90% and updated FICO scores: Greater than 660 14,150 7,815 11,499 33,464 Less than or equal to 660 1,323 808 597 2,728 Missing FICO 42 54 90 186 Total home equity and residential real estate loans $ 16,621 $ 11,901 $ 13,286 $ 41,808 Home Equity Residential Real Estate December 31, 2016 - in millions 1st Liens 2nd Liens Total Current estimated LTV ratios Greater than or equal to 125% and updated FICO scores: Greater than 660 $ 161 $ 629 $ 174 $ 964 Less than or equal to 660 (b) 32 110 35 177 Missing FICO 1 9 2 12 Greater than or equal to 100% to less than 125% and updated FICO scores: Greater than 660 394 1,190 345 1,929 Less than or equal to 660 (b) 66 211 76 353 Missing FICO 3 10 7 20 Greater than or equal to 90% to less than 100% and updated FICO scores: Greater than 660 453 1,100 463 2,016 Less than or equal to 660 77 171 78 326 Missing FICO 1 8 6 15 Less than 90% and updated FICO scores: Greater than 660 14,047 7,913 11,153 33,113 Less than or equal to 660 1,323 822 586 2,731 Missing FICO 42 55 102 199 Missing LTV and updated FICO scores: Greater than 660 1 1 Total home equity and residential real estate loans $ 16,600 $ 12,228 $ 13,028 $ 41,856 (a) Amounts shown represent recorded investment. (b) 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%.The following states had the highest percentage of higher risk loans at March 31, 2017: New Jersey 16%, Pennsylvania 13%, Illinois 12%, Ohio 9%, Maryland 8%, Florida 6%, Michigan 5% and North Carolina 5%. The remainder of the states had lower than 4% of the higher risk loans individually, and collectively they represent approximately 26% of the higher risk loans. The following states had the highest percentage of higher risk loans at December 31, 2016: New Jersey 16%, Pennsylvania 14%, Illinois 12%, Ohio 10%, Florida 7%, Maryland 6%, Michigan 4% and North Carolina 4%. The remainder of the states had lower than 4% of the high risk loans individually, and collectively they represent approximately 27% of the higher risk loans. |
Credit Card and Other Consumer Loan Classes Asset Quality Indicators | Table 38: Credit Card and Other Consumer Loan Classes Asset Quality Indicators Credit Card Other Consumer (a) % of Total Loans % of Total Loans Using FICO Using FICO Dollars in millions Amount Credit Metric Amount Credit Metric March 31, 2017 FICO score greater than 719 $ 3,071 60 % $ 10,062 64 % 650 to 719 1,448 28 4,025 26 620 to 649 219 4 596 4 Less than 620 239 5 674 4 No FICO score available or required (b) 135 3 390 2 Total loans using FICO credit metric 5,112 100 % 15,747 100 % Consumer loans using other internal credit metrics (a) 5,947 Total loan balance $ 5,112 $ 21,694 Weighted-average updated FICO score (b) 734 742 December 31, 2016 FICO score greater than 719 $ 3,244 61 % $ 10,247 65 % 650 to 719 1,466 28 3,873 25 620 to 649 215 4 552 3 Less than 620 229 4 632 4 No FICO score available or required (b) 128 3 489 3 Total loans using FICO credit metric 5,282 100 % 15,793 100 % Consumer loans using other internal credit metrics (a) 6,256 Total loan balance $ 5,282 $ 22,049 Weighted-average updated FICO score (b) 736 744 (a) We use updated FICO scores as an asset quality indicator for non-government guaranteed or insured education loans, automobile loans and other secured and unsecured lines and loans. We use internal credit metrics, such as delinquency status, geography or other factors, as an asset quality indicator for government guaranteed or insured education loans and consumer loans to high net worth individuals, as internal credit metrics are more relevant than FICO scores for these types of loans. (b) 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. Weighted-average updated FICO score excludes accounts with no FICO score available or required. |
Financial Impact and TDRs by Concession Type | Table 39: Financial Impact and TDRs by Concession Type (a) Pre-TDR Post-TDR Recorded Investment (c) During the three months ended March 31, 2017 Number Recorded Principal Rate Dollars in millions of Loans Investment (b) Forgiveness Reduction Other Total Total commercial lending 49 $ 35 $ 4 $ 6 $ 5 $ 15 Total consumer lending 2,899 73 37 31 68 Total TDRs 2,948 $ 108 $ 4 $ 43 $ 36 $ 83 During the three months ended March 31, 2016 Dollars in millions Total commercial lending 42 $ 168 $ 10 $ 142 $ 152 Total consumer lending 2,965 68 44 20 64 Total TDRs 3,007 $ 236 $ 54 $ 162 $ 216 (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. |
Impaired Loans | Table 40: Impaired Loans Unpaid Average Principal Recorded Associated Recorded In millions Balance Investment Allowance Investment (a) March 31, 2017 Impaired loans with an associated allowance Total commercial lending $ 613 $ 372 $ 90 $ 425 Total consumer lending 1,236 1,178 215 1,181 Total impaired loans with an associated allowance $ 1,849 $ 1,550 $ 305 $ 1,606 Impaired loans without an associated allowance Total commercial lending $ 617 $ 345 $ 333 Total consumer lending 957 586 598 Total impaired loans without an associated allowance $ 1,574 $ 931 $ 931 Total impaired loans $ 3,423 $ 2,481 $ 305 $ 2,537 December 31, 2016 Impaired loans with an associated allowance Total commercial lending $ 742 $ 477 $ 105 $ 497 Total consumer lending 1,237 1,185 226 1,255 Total impaired loans with an associated allowance $ 1,979 $ 1,662 $ 331 $ 1,752 Impaired loans without an associated allowance Total commercial lending $ 447 $ 322 $ 365 Total consumer lending 982 608 604 Total impaired loans without an associated allowance $ 1,429 $ 930 $ 969 Total impaired loans $ 3,408 $ 2,592 $ 331 $ 2,721 (a) Average recorded investment is for the three months ended March 31, 2017 and the year ended December 31, 2016, respectively. |
Allowances for Loan and Lease24
Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters Of Credit (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Allowance For Loan And Lease Losses [Abstract] | |
Rollforward of Allowance for Loan and Lease Losses and Associated Loan Data | Table 41: Rollforward of Allowance for Loan and Lease Losses and Associated Loan Data Commercial Consumer In millions Lending Lending Total March 31, 2017 Allowance for Loan and Lease Losses January 1 $ 1,534 $ 1,055 $ 2,589 Charge-offs (55) (143) (198) Recoveries 32 48 80 Net charge-offs (23) (95) (118) Provision for credit losses 23 65 88 Net change in allowance for unfunded loan commitments and letters of credit (5) 1 (4) Other 1 5 6 March 31 $ 1,530 $ 1,031 $ 2,561 TDRs individually evaluated for impairment $ 37 $ 215 $ 252 Other loans individually evaluated for impairment 53 53 Loans collectively evaluated for impairment 1,412 526 1,938 Purchased impaired loans 28 290 318 March 31 $ 1,530 $ 1,031 $ 2,561 Loan Portfolio TDRs individually evaluated for impairment $ 366 $ 1,764 $ 2,130 Other loans individually evaluated for impairment 351 351 Loans collectively evaluated for impairment 139,863 66,797 206,660 Fair value option loans (a) 874 874 Purchased impaired loans 82 2,729 2,811 March 31 $ 140,662 $ 72,164 $ 212,826 Portfolio segment ALLL as a percentage of total ALLL 60 % 40 % 100 % Ratio of the allowance for loan and lease losses to total loans 1.09 % 1.43 % 1.20 % March 31, 2016 Allowance for Loan and Lease Losses January 1 $ 1,605 $ 1,122 $ 2,727 Charge-offs (89) (147) (236) Recoveries 46 41 87 Net charge-offs (43) (106) (149) Provision for credit losses 84 68 152 Net change in allowance for unfunded loan commitments and letters of credit (19) (2) (21) Other 1 1 2 March 31 $ 1,628 $ 1,083 $ 2,711 TDRs individually evaluated for impairment $ 49 $ 261 $ 310 Other loans individually evaluated for impairment 115 115 Loans collectively evaluated for impairment 1,414 560 1,974 Purchased impaired loans 50 262 312 March 31 $ 1,628 $ 1,083 $ 2,711 Loan Portfolio TDRs individually evaluated for impairment $ 500 $ 1,891 $ 2,391 Other loans individually evaluated for impairment 436 436 Loans collectively evaluated for impairment 134,045 66,338 200,383 Fair value option loans (a) 895 895 Purchased impaired loans 149 3,231 3,380 March 31 $ 135,130 $ 72,355 $ 207,485 Portfolio segment ALLL as a percentage of total ALLL 60 % 40 % 100 % Ratio of the allowance for loan and lease losses to total loans 1.20 % 1.50 % 1.31 % (a) 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. |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Investment Securities Disclosure [Abstract] | |
Investment Securities Summary | N OTE 5 I NVESTMENT S ECURITIES Table 42: Investment Securities Summary Amortized Unrealized Fair In millions Cost Gains Losses Value March 31, 2017 Securities Available for Sale Debt securities U.S. Treasury and government agencies $ 12,787 $ 185 $ (62) $ 12,910 Residential mortgage-backed Agency 26,329 153 (293) 26,189 Non-agency 3,011 236 (44) 3,203 Commercial mortgage-backed Agency 2,037 4 (35) 2,006 Non-agency 3,846 28 (11) 3,863 Asset-backed 5,934 59 (13) 5,980 Other debt 4,572 124 (23) 4,673 Total debt securities 58,516 789 (481) 58,824 Corporate stocks and other 517 (2) 515 Total securities available for sale $ 59,033 $ 789 $ (483) $ 59,339 Securities Held to Maturity Debt securities U.S. Treasury and government agencies $ 531 $ 36 $ (18) $ 549 Residential mortgage-backed Agency 12,344 66 (172) 12,238 Non-agency 185 6 191 Commercial mortgage-backed Agency 882 18 900 Non-agency 561 10 571 Asset-backed 552 1 (1) 552 Other debt 2,038 92 (21) 2,109 Total securities held to maturity $ 17,093 $ 229 $ (212) $ 17,110 December 31, 2016 Securities Available for Sale Debt securities U.S. Treasury and government agencies $ 13,100 $ 151 $ (77) $ 13,174 Residential mortgage-backed Agency 26,245 170 (287) 26,128 Non-agency 3,191 227 (52) 3,366 Commercial mortgage-backed Agency 2,150 3 (34) 2,119 Non-agency 4,023 29 (27) 4,025 Asset-backed 5,938 52 (22) 5,968 Other debt 4,656 104 (37) 4,723 Total debt securities 59,303 736 (536) 59,503 Corporate stocks and other 603 (2) 601 Total securities available for sale $ 59,906 $ 736 $ (538) $ 60,104 Securities Held to Maturity Debt securities U.S. Treasury and government agencies $ 527 $ 35 $ (22) $ 540 Residential mortgage-backed Agency 11,074 68 (161) 10,981 Non-agency 191 7 198 Commercial mortgage-backed Agency 903 24 927 Non-agency 567 10 577 Asset-backed 558 (2) 556 Other debt 2,023 76 (12) 2,087 Total securities held to maturity $ 15,843 $ 220 $ (197) $ 15,866 |
Gross Unrealized Loss and Fair Value of Securities Available for Sale | Table 43: Gross Unrealized Loss and Fair Value of Debt Securities 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 March 31, 2017 Securities Available for Sale Debt securities U.S. Treasury and government agencies $ (50) $ 2,756 $ (12) $ 869 $ (62) $ 3,625 Residential mortgage-backed Agency (274) 16,931 (19) 870 (293) 17,801 Non-agency (2) 152 (42) 838 (44) 990 Commercial mortgage-backed Agency (34) 1,582 (1) 39 (35) 1,621 Non-agency (10) 755 (1) 377 (11) 1,132 Asset-backed (3) 1,065 (10) 606 (13) 1,671 Other debt (20) 1,200 (3) 292 (23) 1,492 Total debt securities available for sale $ (393) $ 24,441 $ (88) $ 3,891 $ (481) $ 28,332 Securities Held to Maturity Debt securities U.S. Treasury and government agencies $ (18) $ 242 $ (18) $ 242 Residential mortgage-backed Agency (164) 7,961 $ (8) $ 152 (172) 8,113 Commercial mortgage-backed Agency 68 1 69 Non-agency 3 3 Asset-backed 25 (1) 251 (1) 276 Other debt (21) 141 (a) 1 (21) 142 Total debt securities held to maturity $ (203) $ 8,437 $ (9) $ 408 $ (212) $ 8,845 December 31, 2016 Securities Available for Sale Debt securities U.S. Treasury and government agencies $ (57) $ 3,108 $ (20) $ 2,028 $ (77) $ 5,136 Residential mortgage-backed Agency (267) 16,942 (20) 922 (287) 17,864 Non-agency (1) 109 (51) 1,119 (52) 1,228 Commercial mortgage-backed Agency (33) 1,577 (1) 86 (34) 1,663 Non-agency (14) 880 (13) 987 (27) 1,867 Asset-backed (5) 1,317 (17) 902 (22) 2,219 Other debt (33) 1,827 (4) 243 (37) 2,070 Total debt securities available for sale $ (410) $ 25,760 $ (126) $ 6,287 $ (536) $ 32,047 Securities Held to Maturity Debt securities U.S. Treasury and government agencies $ (22) $ 238 $ (22) $ 238 Residential mortgage-backed Agency (153) 8,041 $ (8) $ 161 (161) 8,202 Asset-backed (2) 451 (2) 451 Other debt (12) 146 (a) 1 (12) 147 Total debt securities held to maturity $ (187) $ 8,425 $ (10) $ 613 $ (197) $ 9,038 (a) The unrealized loss on these securities was less than $.5 million. |
Gains (Losses) on Sales Of Securities Available for Sale | Table 44: Gains (Losses) on Sales of Securities Available for Sale Three months ended March 31 Gross Gross Net Tax In millions Proceeds Gains Losses (Losses) Gains (Benefit) Expense 2017 $ 3,222 $ 14 $ (16) $ (2) $ (1) 2016 $ 788 $ 9 $ 9 $ 3 |
Contractual Maturity of Debt Securities | Table 45: Contractual Maturity of Debt Securities March 31, 2017 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 $ 157 $ 5,714 $ 5,745 $ 1,171 $ 12,787 Residential mortgage-backed Agency 1 81 558 25,689 26,329 Non-agency 1 3,010 3,011 Commercial mortgage-backed Agency 74 155 758 1,050 2,037 Non-agency 108 108 3,630 3,846 Asset-backed 28 2,255 1,764 1,887 5,934 Other debt 310 2,311 569 1,382 4,572 Total debt securities available for sale $ 570 $ 10,625 $ 9,502 $ 37,819 $ 58,516 Fair value $ 573 $ 10,683 $ 9,536 $ 38,032 $ 58,824 Weighted-average yield, GAAP basis 2.99 % 2.14 % 2.15 % 2.91 % 2.65 % Securities Held to Maturity U.S. Treasury and government agencies $ 109 $ 422 $ 531 Residential mortgage-backed Agency $ 51 413 11,880 12,344 Non-agency 185 185 Commercial mortgage-backed Agency $ 84 739 5 54 882 Non-agency 561 561 Asset-backed 1 451 100 552 Other debt 12 219 967 840 2,038 Total debt securities held to maturity $ 96 $ 1,010 $ 1,945 $ 14,042 $ 17,093 Fair value $ 96 $ 1,035 $ 2,004 $ 13,975 $ 17,110 Weighted-average yield, GAAP basis 3.67 % 3.62 % 3.33 % 3.20 % 3.24 % |
Fair Value of Securities Pledged and Accepted as Collateral | Table 46: Fair Value of Securities Pledged and Accepted as Collateral March 31 December 31 In millions 2017 2016 Pledged to others $ 8,889 $ 9,493 Accepted from others: Permitted by contract or custom to sell or repledge $ 1,693 $ 912 Permitted amount repledged to others $ 1,599 $ 799 |
Fair Value (Tables)
Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Fair Value [Abstract] | |
Fair Value Measurements - Recurring Basis Summary | Table 47: Fair Value Measurements - Recurring Basis Summary March 31, 2017 December 31, 2016 Total Total In millions Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Fair Value Assets Residential mortgage loans held for sale $ 719 $ 4 $ 723 $ 1,008 $ 2 $ 1,010 Commercial mortgage loans held for sale 581 581 1,400 1,400 Securities available for sale U.S. Treasury and government agencies $ 12,312 598 12,910 $ 12,572 602 13,174 Residential mortgage-backed Agency 26,189 26,189 26,128 26,128 Non-agency 107 3,096 3,203 112 3,254 3,366 Commercial mortgage-backed Agency 2,006 2,006 2,119 2,119 Non-agency 3,863 3,863 4,025 4,025 Asset-backed 5,614 366 5,980 5,565 403 5,968 Other debt 4,598 75 4,673 4,657 66 4,723 Total debt securities 12,312 42,975 3,537 58,824 12,572 43,208 3,723 59,503 Corporate stocks and other 454 61 515 541 60 601 Total securities available for sale 12,766 43,036 3,537 59,339 13,113 43,268 3,723 60,104 Loans 551 323 874 558 335 893 Equity investments (a) 1,106 1,390 1,331 1,381 Residential mortgage servicing rights 1,261 1,261 1,182 1,182 Commercial mortgage servicing rights 606 606 576 576 Trading securities (b) 1,312 1,313 2 2,627 1,458 1,169 2 2,629 Financial derivatives (b) (c) 13 3,265 24 3,302 10 4,566 40 4,616 Other 276 291 82 649 266 312 239 817 Total assets $ 14,367 $ 49,175 $ 7,526 $ 71,352 $ 14,847 $ 50,881 $ 8,830 $ 74,608 Liabilities Other borrowed funds $ 1,497 $ 158 $ 7 $ 1,662 $ 799 $ 161 $ 10 $ 970 Financial derivatives (c) (d) 2 2,366 254 2,622 1 3,424 414 3,839 Other liabilities 31 31 9 9 Total liabilities $ 1,499 $ 2,524 $ 292 $ 4,315 $ 800 $ 3,585 $ 433 $ 4,818 (a) Certain investments that are measured at fair value using the net asset value (NAV) per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented on the Consolidated Balance Sheet. (b) Included in Other assets on the Consolidated Balance Sheet. (c) Amounts at March 31, 2017 and December 31, 2016, are presented gross and are not reduced by the impact of legally enforceable master netting agreements that allow us to net positive and negative positions and cash collateral held or placed with the same counterparty. See Note 9 Financial Derivatives for additional information related to derivative offsetting. (d) Included in Other liabilities on the 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 the three months ended March 31, 2017 and 2016 follow: Table 48: Reconciliation of Level 3 Assets and Liabilities Three Months Ended March 31, 2017 Unrealized gains / losses Total realized / unrealized on assets and gains or losses for the period (a) liabilities held on Included Consolidated Level 3 Instruments Fair Value in Other Transfers Transfers Fair Value Balance Sheet Only Dec. 31, Included in comprehensive into out of Mar. 31, at Mar. 31, In millions 2016 Earnings income Purchases Sales Issuances Settlements Level 3 Level 3 2017 2017 (a) (b) Assets Residential mortgage loans held for sale $ 2 $ 2 $ 2 $ (2) $ 4 Commercial mortgage loans held for sale 1,400 $ 9 $ (1,617) $ 801 $ (12) 581 $ (5) Securities available for sale Residential mortgage- backed non-agency 3,254 26 $ 18 (202) 3,096 Asset-backed 403 4 4 (25) (20) 366 Other debt 66 9 1 (1) 75 Total securities available for sale 3,723 30 31 1 (26) (222) 3,537 Loans 335 1 22 (4) (19) 2 (14) 323 Equity investments 1,331 96 37 (175) (183) (c) 1,106 67 Residential mortgage servicing rights 1,182 18 83 17 (39) 1,261 17 Commercial mortgage servicing rights 576 13 13 29 (25) 606 13 Trading securities 2 2 Financial derivatives 40 (1) (15) 24 22 Other assets 239 (2) (155) 82 (2) Total assets $ 8,830 $ 164 $ 31 $ 158 $ (1,822) $ 847 $ (487) $ 4 $ (199) $ 7,526 $ 112 Liabilities Other borrowed funds $ 10 $ 19 $ (22) $ 7 Financial derivatives 414 $ 9 $ 2 (171) 254 $ 7 Other liabilities 9 16 77 (71) 31 16 Total liabilities $ 433 $ 25 $ 2 $ 96 $ (264) $ 292 $ 23 Net gains (losses) $ 139 (d) $ 89 (e) Three Months Ended March 31, 2016 Unrealized gains / losses Total realized / unrealized on assets and gains or losses for the period (a) liabilities held on Included Consolidated Level 3 Instruments Fair Value Included in Other Transfers Transfers Fair Value Balance Sheet Only Dec. 31, in comprehensive into out of Mar. 31, at Mar. 31, In millions 2015 Earnings income Purchases Sales Issuances Settlements Level 3 Level 3 2016 2016 (a) (b) Assets Residential mortgage loans held for sale $ 5 $ 3 $ (1) $ 2 $ (5) $ 4 Commercial mortgage loans held for sale 641 $ 16 (649) $ 647 655 $ 12 Securities available for sale Residential mortgage- backed non-agency 4,008 22 $ (45) $ (175) 3,810 (1) Asset-backed 482 3 (12) (22) 451 Other debt 45 (1) 2 (2) 44 Total securities available for sale 4,535 25 (58) 2 (2) (197) 4,305 (1) Loans 340 2 33 (8) (25) (13) 329 1 Equity investments 1,098 51 23 (16) 1,156 50 Residential mortgage servicing rights 1,063 (226) 52 11 (37) 863 (225) Commercial mortgage servicing rights 526 (55) 3 9 (23) 460 (55) Trading securities 3 (1) 2 Financial derivatives 31 34 (24) 41 28 Other 364 (9) (2) (1) (138) 214 (11) Total assets $ 8,606 $ (162) $ (60) $ 116 $ (677) $ 667 $ (445) $ 2 $ (18) $ 8,029 $ (201) Liabilities Other borrowed funds $ 12 $ 23 $ (27) $ 8 Financial derivatives 473 $ 7 $ 2 (149) 333 $ 8 Other liabilities 10 38 (34) 14 Total liabilities $ 495 $ 7 $ 2 $ 61 $ (210) $ 355 $ 8 Net gains (losses) $ (169) (d) $ (209) (e) (a) Losses for assets are bracketed while losses for liabilities are not. (b) 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. (c) Reflects transfers out of Level 3 associated with a change in valuation methodology for certain equity investments subject to the Volcker Rule provisions of the Dodd-Frank Act. These investments are measured at fair value using the NAV per share (or its equivalent) practical expedient as of March 31, 2017. (d) Net gains (losses) realized and unrealized included in earnings related to Level 3 assets and liabilities included amortization and accretion. 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. (e) Net unrealized gains (losses) related to assets and liabilities held at the end of the reporting period were included in Noninterest income on the Consolidated Income Statement. |
Fair Value Measurements - Recurring Quantitative Information | Quantitative information about the significant unobservable inputs within Level 3 recurring assets and liabilities follows. Table 49: Fair Value Measurements - Recurring Quantitative Information March 31, 2017 Level 3 Instruments Only Dollars in millions Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) Commercial mortgage loans held $ 581 Discounted cash flow Spread over the benchmark curve (a) 40bps-13,520bps (1,046bps) for sale Estimated servicing cash flows 0.0%-5.4% (2.0%) Residential mortgage-backed 3,096 Priced by a third-party vendor Constant prepayment rate (CPR) 1.0%-24.2% (7.4%) non-agency securities using a discounted cash flow Constant default rate (CDR) 0.0%-16.7% (5.2%) pricing model Loss severity 10.0%-98.5% (53.4%) Spread over the benchmark curve (a) 225bps weighted average Asset-backed securities 366 Priced by a third-party vendor Constant prepayment rate (CPR) 1.0%-16.0% (6.5%) using a discounted cash flow Constant default rate (CDR) 2.0%-13.9% (6.5%) pricing model Loss severity 24.2%-100.0% (75.5%) Spread over the benchmark curve (a) 256bps weighted average Loans 136 Consensus pricing (b) Cumulative default rate 11.0%-100.0% (85.4%) Loss severity 0.0%-100.0% (21.4%) Discount rate 4.7%-7.5% (5.1%) 113 Discounted cash flow Loss severity 8.0% weighted average Discount rate 4.4% weighted average 74 Consensus pricing (b) Credit and Liquidity discount 0.0%-99.0% (58.6%) Equity investments 1,106 Multiple of adjusted earnings Multiple of earnings 4.5x-13.4x (8.0x) Residential mortgage servicing rights 1,261 Discounted cash flow Constant prepayment rate (CPR) 0.1%-38.1% (9.3%) Spread over the benchmark curve (a) 224bps-1,900bps (850bps) Commercial mortgage servicing 606 Discounted cash flow Constant prepayment rate (CPR) 7.1%-37.8% (8.1%) rights Discount rate 5.0%-7.7% (7.6%) Financial derivatives - Swaps related (165) Discounted cash flow Estimated conversion factor of to sales of certain Visa Class B Class B shares into Class A shares 164.4% weighted average common shares Estimated growth rate of Visa Class A share price 14.0% Estimated length of litigation resolution date Q2 2019 Insignificant Level 3 assets, net of liabilities (c) 60 Total Level 3 assets, net of liabilities (d) $ 7,234 December 31, 2016 Level 3 Instruments Only Dollars in millions Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) Commercial mortgage loans held $ 1,400 Discounted cash flow Spread over the benchmark curve (a) 42bps-1,725bps (362bps) for sale Estimated servicing cash flows 0.0%-7.3% (1.5%) Residential mortgage-backed 3,254 Priced by a third-party vendor Constant prepayment rate (CPR) 1.0%-24.2% (7.2%) non-agency securities using a discounted cash flow Constant default rate (CDR) 0.0%-16.7% (5.3%) pricing model Loss severity 10.0%-98.5% (53.5%) Spread over the benchmark curve (a) 236bps weighted average Asset-backed securities 403 Priced by a third-party vendor Constant prepayment rate (CPR) 1.0%-16.0% (6.4%) using a discounted cash flow Constant default rate (CDR) 2.0%-13.9% (6.6%) pricing model Loss severity 24.2%-100.0% (77.3%) Spread over the benchmark curve (a) 278bps weighted average Loans 141 Consensus pricing (b) Cumulative default rate 11.0%-100.0% (86.9%) Loss severity 0.0%-100.0% (22.9%) Discount rate 4.7%-6.7% (5.1%) 116 Discounted cash flow Loss severity 8.0% weighted average Discount rate 4.2% weighted average 78 Consensus pricing (b) Credit and Liquidity discount 0.0%-99.0% (57.9%) Equity investments 1,331 Multiple of adjusted earnings Multiple of earnings 4.5x-12.0x (7.8x) Consensus pricing (b) Liquidity discount 0.0%-40.0% Residential mortgage servicing rights 1,182 Discounted cash flow Constant prepayment rate (CPR) 0.0%-36.0% (9.4%) Spread over the benchmark curve (a) 341bps-1,913bps (850bps) Commercial mortgage servicing rights 576 Discounted cash flow Constant prepayment rate (CPR) 7.5%-43.4% (8.6%) Discount rate 3.5%-7.6% (7.5%) Other assets - BlackRock Series C 232 Consensus pricing (b) Liquidity discount 15.0%-25.0% (20.0%) Preferred Stock Financial derivatives - BlackRock (232) Consensus pricing (b) Liquidity discount 15.0%-25.0% (20.0%) LTIP Financial derivatives - Swaps related (164) Discounted cash flow Estimated conversion factor of to sales of certain Visa Class B Class B shares into Class A shares 164.4% weighted average common shares Estimated growth rate of Visa Class A share price 14.0% Estimated length of litigation resolution date Q2 2019 Insignificant Level 3 assets, net of liabilities (c) 80 Total Level 3 assets, net of liabilities (d) $ 8,397 (a) 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. (b) 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. (c) 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, state and municipal and other debt securities, residential mortgage loans held for sale, other assets, other borrowed funds and other liabilities. (d) Consisted of total Level 3 assets of $7.5 billion and total Level 3 liabilities of $.3 billion as of March 31, 2017 and $8.8 billion and $.4 billion as of December 31, 2016, respectively. |
Fair Value Measurements - Nonrecurring | Table 50: Fair Value Measurements - Nonrecurring Gains (Losses) Fair Value (a) Three months ended March 31 December 31 March 31 March 31 In millions 2017 2016 2017 2016 Assets Nonaccrual loans $ 146 $ 187 $ (6) $ (47) OREO and foreclosed assets 56 107 (4) (8) Insignificant assets 9 19 3 (7) Total assets $ 211 $ 313 $ (7) $ (62) (a) All Level 3 as of March 31, 2017 and December 31, 2016. |
Fair Value Measurements - Nonrecurring Quantitative Information | Quantitative information about the significant unobservable inputs within Level 3 nonrecurring assets follows. Table 51: Fair Value Measurements - Nonrecurring Quantitative Information Level 3 Instruments Only Dollars in millions Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) March 31, 2017 Assets Nonaccrual loans $ 70 LGD percentage Loss severity 6.4%-86.8% (23.3%) 76 Fair value of property or collateral Appraised value/sales price Not meaningful OREO and foreclosed assets 56 Fair value of property or collateral Appraised value/sales price Not meaningful Insignificant assets 9 Total assets $ 211 December 31, 2016 Assets Nonaccrual loans $ 112 LGD percentage Loss severity 6.0%-77.1% (31.3%) 75 Fair value of property or collateral Appraised value/sales price Not meaningful OREO and foreclosed assets 107 Fair value of property or collateral Appraised value/sales price Not meaningful Insignificant assets 19 Total assets $ 313 |
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 52: Fair Value Option - Fair Value and Principal Balances Aggregate Unpaid In millions Fair Value Principal Balance Difference March 31, 2017 Assets Residential mortgage loans held for sale Performing loans $ 711 $ 684 $ 27 Accruing loans 90 days or more past due 3 3 Nonaccrual loans 9 10 (1) Total 723 697 26 Commercial mortgage loans held for sale (a) Performing loans 578 610 (32) Nonaccrual loans 3 5 (2) Total 581 615 (34) Residential mortgage loans Performing loans 279 320 (41) Accruing loans 90 days or more past due 378 378 Nonaccrual loans 217 339 (122) Total 874 1,037 (163) Other assets 272 278 (6) Liabilities Other borrowed funds $ 57 $ 58 $ (1) December 31, 2016 Assets Residential mortgage loans held for sale Performing loans $ 1,000 $ 988 $ 12 Accruing loans 90 days or more past due 4 4 Nonaccrual loans 6 6 Total 1,010 998 12 Commercial mortgage loans held for sale (a) Performing loans 1,395 1,412 (17) Nonaccrual loans 5 9 (4) Total 1,400 1,421 (21) Residential mortgage loans Performing loans 247 289 (42) Accruing loans 90 days or more past due 427 428 (1) Nonaccrual loans 219 346 (127) Total 893 1,063 (170) Other assets 293 288 5 Liabilities Other borrowed funds $ 81 $ 82 $ (1) (a) There were no accruing loans 90 days or more past due within this category at March 31, 2017 or December 31, 2016. |
Fair Value Option - Changes in Fair Value | Table 53: Fair Value Option - Changes in Fair Value (a) Gains (Losses) Three months ended March 31 March 31 In millions 2017 2016 Assets Residential mortgage loans held for sale $ 30 $ 47 Commercial mortgage loans held for sale $ 18 $ 27 Residential mortgage loans $ 4 $ 6 Other assets $ 7 $ (27) Liabilities Other liabilities $ (16) (a) The impact on earnings of offsetting hedged items or hedging instruments is not reflected in these amounts. |
Additional Fair Value Information Related to Other Financial Instruments | Table 54: Additional Fair Value Information Related to Other Financial Instruments Carrying Fair Value In millions Amount Total Level 1 Level 2 Level 3 March 31, 2017 Assets Cash and due from banks $ 5,003 $ 5,003 $ 5,003 Interest-earning deposits with banks 27,877 27,877 $ 27,877 Securities held to maturity 17,093 17,110 549 16,428 $ 133 Net loans (excludes leases) 201,921 203,319 203,319 Other assets 5,512 6,025 5,387 638 Total assets $ 257,406 $ 259,334 $ 5,552 $ 49,692 $ 204,090 Liabilities Deposits $ 260,710 $ 260,552 $ 260,552 Borrowed funds 53,400 54,134 52,743 $ 1,391 Unfunded loan commitments and letters of credit 305 305 305 Other liabilities 388 388 388 Total liabilities $ 314,803 $ 315,379 $ 313,683 $ 1,696 December 31, 2016 Assets Cash and due from banks $ 4,879 $ 4,879 $ 4,879 Interest-earning deposits with banks 25,711 25,711 $ 25,711 Securities held to maturity 15,843 15,866 540 15,208 $ 118 Net loans (excludes leases) 199,766 201,863 201,863 Other assets 4,793 5,243 4,666 577 Total assets $ 250,992 $ 253,562 $ 5,419 $ 45,585 $ 202,558 Liabilities Deposits $ 257,164 $ 257,038 $ 257,038 Borrowed funds 51,736 52,322 50,941 $ 1,381 Unfunded loan commitments and letters of credit 301 301 301 Other liabilities 417 417 417 Total liabilities $ 309,618 $ 310,078 $ 308,396 $ 1,682 |
Goodwill and Other Intangible27
Goodwill and Other Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Goodwill and Other Intangible Assets Disclosure [Abstract] | |
Mortgage Servicing Rights | Changes in the commercial and residential MSRs follow: Table 55: Mortgage Servicing Rights Commercial MSRs Residential MSRs In millions 2017 2016 2017 2016 January 1 $ 576 $ 526 $ 1,182 $ 1,063 Additions: From loans sold with servicing retained 29 9 17 11 Purchases 13 3 83 52 Changes in fair value due to: Time and payoffs (a) (25) (23) (39) (37) Other (b) 13 (55) 18 (226) March 31 $ 606 $ 460 $ 1,261 $ 863 Related unpaid principal balance at March 31 $ 143,908 $ 143,922 $ 130,382 $ 124,839 Servicing advances at March 31 $ 234 $ 220 $ 260 $ 383 (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 | 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 56: Commercial Mortgage Loan Servicing Rights - Key Valuation Assumptions March 31 December 31 Dollars in millions 2017 2016 Fair value $ 606 $ 576 Weighted-average life (years) 4.5 4.6 Weighted-average constant prepayment rate 8.14 % 8.61 % Decline in fair value from 10% adverse change $ 11 $ 11 Decline in fair value from 20% adverse change $ 21 $ 21 Effective discount rate 7.58 % 7.52 % Decline in fair value from 10% adverse change $ 17 $ 16 Decline in fair value from 20% adverse change $ 33 $ 31 |
Residential Mortgage Loan Servicing Assets - Key Valuation Assumptions | Table 57: Residential Mortgage Loan Servicing Rights - Key Valuation Assumptions March 31 December 31 Dollars in millions 2017 2016 Fair value $ 1,261 $ 1,182 Weighted-average life (years) 6.9 6.8 Weighted-average constant prepayment rate 9.34 % 9.41 % Decline in fair value from 10% adverse change $ 47 $ 45 Decline in fair value from 20% adverse change $ 90 $ 86 Weighted-average option adjusted spread 850 bps 850 bps Decline in fair value from 10% adverse change $ 39 $ 37 Decline in fair value from 20% adverse change $ 76 $ 72 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Employee Benefit Plans [Abstract] | |
Components of Net Periodic Benefit Cost | Table 58: Components of Net Periodic Benefit Cost Qualified Pension Plan Nonqualified Retirement Plans Postretirement Benefit Three months ended March 31 In millions 2017 2016 2017 2016 2017 2016 Net periodic cost consists of: Service cost $ 26 $ 26 $ 1 $ 1 $ 1 Interest cost 45 46 3 $ 3 4 4 Expected return on plan assets (71) (70) (1) (1) Amortization of prior service credit (1) (2) Amortization of actuarial losses 12 11 1 1 Net periodic cost/(benefit) $ 11 $ 11 $ 5 $ 4 $ 4 $ 4 |
Financial Derivatives (Tables)
Financial Derivatives (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Total Gross Derivatives | The following table presents the notional amounts and gross fair values of all derivative assets and liabilities held by us: Table 59: Total Gross Derivatives March 31, 2017 December 31, 2016 In millions Notional / Contract Amount Asset Fair Value (a) Liability Fair Value (b) Notional / Contract Amount Asset Fair Value (a) Liability Fair Value (b) Derivatives used for hedging under GAAP Interest rate contracts (c): Fair value hedges (d) $ 31,380 $ 216 $ 71 $ 34,010 $ 551 $ 214 Cash flow hedges (d) 18,577 109 1 20,831 313 71 Foreign exchange contracts: Net investment hedges 962 11 945 25 Total derivatives designated for hedging $ 50,919 $ 336 $ 72 $ 55,786 $ 889 $ 285 Derivatives not used for hedging under GAAP Derivatives used for mortgage banking activities (e): Interest rate contracts: Swaps (d) $ 49,790 $ 344 $ 145 $ 49,071 $ 783 $ 505 Futures (f) 33,779 36,264 Mortgage-backed commitments 9,074 41 19 13,317 96 56 Other 47,181 27 8 31,907 28 4 Subtotal 139,824 412 172 130,559 907 565 Derivatives used for customer-related activities: Interest rate contracts: Swaps (d) 177,719 2,252 1,869 173,777 2,373 2,214 Futures (f) 3,763 4,053 . Mortgage-backed commitments 2,687 7 7 2,955 10 8 Other 18,013 74 50 16,203 55 53 Subtotal 202,182 2,333 1,926 196,988 2,438 2,275 Foreign exchange contracts and other 20,880 203 191 21,889 342 309 Subtotal 223,062 2,536 2,117 218,877 2,780 2,584 Derivatives used for other risk management activities: Foreign exchange contracts and other (g) 6,174 18 261 5,581 40 405 Total derivatives not designated for hedging $ 369,060 $ 2,966 $ 2,550 $ 355,017 $ 3,727 $ 3,554 Total gross derivatives $ 419,979 $ 3,302 $ 2,622 $ 410,803 $ 4,616 $ 3,839 Less: Impact of legally enforceable master netting agreements (d) (1,497) (1,497) (2,460) (2,460) Less: Cash collateral received/paid (d) (507) (508) (657) (484) Total derivatives $ 1,298 $ 617 $ 1,499 $ 895 (a) Included in Other assets on our Consolidated Balance Sheet. (b) Included in Other liabilities on our Consolidated Balance Sheet. (c) Represents primarily swaps. (d) In the first quarter of 2017, PNC changed its accounting treatment for variation margin related to certain derivative instruments cleared through a central clearing house. Previously, variation margin was treated as collateral subject to offsetting. As a result of changes made by the clearing house to its rules governing such instruments with its counterparties, effective for the first quarter of 2017, variation margin will be treated as a settlement payment on the derivative instrument. The impact at March 31, 2017 was a reduction of gross derivative assets and gross derivative liabilities by $.8 billion and $.7 billion, respectively. The accounting change had no impact on the net fair value of the derivative assets and liabilities that otherwise would have been reported on our Consolidated Balance Sheet. See Table 63 for more information. (e) Includes both residential and commercial mortgage banking activities. (f) Futures contracts settle in cash daily and, therefore, no derivative asset or derivative liability is recognized on our Consolidated Balance Sheet. (g) Includes our 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 and Related Hedged Items - Fair Value Hedges | Table 60: Gains (Losses) on Derivatives and Related Hedged Items - Fair Value Hedges (a) Three months ended March 31, 2017 March 31, 2016 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 Agencies and Other Debt Securities Investment securities (interest income) $ 22 $ (21) $ (154) $ 158 Interest rate contracts Subordinated Debt and Bank Notes and Senior Debt Borrowed funds (interest expense) (95) 86 407 (432) Total $ (73) $ 65 $ 253 $ (274) (a) The difference between the gains (losses) recognized in income on derivatives and their related hedged items represents the ineffective portion of the change in value of our fair value hedge derivatives. |
Gains (Losses) on Derivatives and Related Cash Flows - Cash Flow Hedges | Further detail regarding gains (losses) on derivatives and related cash flows is presented in the following table: Table 61: Gains (Losses) on Derivatives and Related Cash Flows - Cash Flow Hedges (a) (b) Three months ended March 31 In millions 2017 2016 Gains (losses) on derivatives recognized in Other comprehensive income (OCI) - (effective portion) $ (22) $ 265 Less: Gains (losses) reclassified from Accumulated other comprehensive income (AOCI) into income - (effective portion) Interest income 52 65 Noninterest income 3 Total gains (losses) reclassified from AOCI into income - (effective portion) $ 55 $ 65 Net unrealized gains (losses) on cash flow hedge derivatives $ (77) $ 200 (a) All cash flow hedge derivatives are interest rate contracts as of March 31, 2017 and March 31, 2016. (b) The amount of cash flow hedge ineffectiveness recognized in income was not significant for the periods presented. |
Derivatives Not Designated as Hedging Instruments under GAAP | Further detail regarding the gains (losses) on derivatives not designated in hedging relationships is presented in the following table: Table 62: Gains (Losses) on Derivatives Not Designated for Hedging under GAAP Three months ended March 31 In millions 2017 2016 Derivatives used for mortgage banking activities: Interest rate contracts (a) $ (7) $ 241 Derivatives used for customer-related activities: Interest rate contracts $ 34 $ (4) Foreign exchange contracts and other 32 29 Gains (losses) from customer-related activities (b) $ 66 $ 25 Derivatives used for other risk management activities: Foreign exchange contracts and other (c) $ (50) $ (99) Gains (losses) from other risk management activities (b) $ (50) $ (99) Total gains (losses) from derivatives not designated as hedging instruments $ 9 $ 167 (a) Included in Residential mortgage, Corporate services and Other noninterest income. (b) Included in Other noninterest income. (c) Includes BlackRock LTIP funding obligation and the swaps entered into in connection with sales of a portion of Visa Class B common shares. |
Derivative Assets And Liabilities Offsetting | Table 63: Derivative Assets and Liabilities Offsetting Gross Fair Value Amounts Offset on the Consolidated Balance Sheet Net Fair Value Securities Collateral Held / (Pledged) Net Amounts March 31, 2017 Fair Value Offset Amount Cash Collateral Under Master Netting Agreements In millions Derivative assets Interest rate contracts: Cleared (a) $ 556 $ 157 $ 366 $ 33 $ 33 Exchange-traded 10 10 10 Over-the-counter 2,504 1,216 137 1,151 $ 54 1,097 Foreign exchange and other contracts 232 124 4 104 104 Total derivative assets $ 3,302 $ 1,497 $ 507 $ 1,298 (b) $ 54 $ 1,244 Derivative liabilities Interest rate contracts: Cleared (a) $ 176 $ 157 $ 19 $ 19 Exchange-traded 2 2 2 Over-the-counter 1,992 1,238 $ 490 264 264 Foreign exchange and other contracts 452 102 18 332 332 Total derivative liabilities $ 2,622 $ 1,497 $ 508 $ 617 (c) $ 617 December 31, 2016 In millions Derivative assets Interest rate contracts: Cleared $ 1,498 $ 940 $ 480 $ 78 $ 78 Exchange-traded 9 9 9 Over-the-counter 2,702 1,358 164 1,180 $ 62 1,118 Foreign exchange and other contracts 407 162 13 232 232 Total derivative assets $ 4,616 $ 2,460 $ 657 $ 1,499 (b) $ 62 $ 1,437 Derivative liabilities Interest rate contracts: Cleared $ 1,060 $ 940 $ 25 $ 95 $ 95 Exchange-traded 1 1 1 Over-the-counter 2,064 1,395 431 238 238 Foreign exchange and other contracts 714 125 28 561 561 Total derivative liabilities $ 3,839 $ 2,460 $ 484 $ 895 (c) $ 895 (a) Reflects our first quarter 2017 change in accounting treatment for variation margin for certain derivative instruments cleared through a central clearing house. The accounting change reduced the asset and liability gross fair values with corresponding reductions to the fair value and cash collateral offsets, resulting in no changes to the net fair value amounts. (b) Represents the net amount of derivative assets included in Other assets on our Consolidated Balance Sheet. (c) 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, 2017 | |
Earnings per Share | |
Basic and Diluted Earnings per Common Share | NOTE 10 EARNINGS PER SHARE Table 64: Basic and Diluted Earnings Per Common Share Three months ended March 31 In millions, except per share data 2017 2016 Basic Net income $ 1,074 $ 943 Less: Net income attributable to noncontrolling interests 17 19 Preferred stock dividends 63 63 Preferred stock discount accretion and redemptions 21 2 Net income attributable to common shares 973 859 Less: Dividends and undistributed earnings allocated to participating securities 6 6 Net income attributable to basic common shares $ 967 $ 853 Basic weighted-average common shares outstanding 487 501 Basic earnings per common share (a) $ 1.99 $ 1.70 Diluted Net income attributable to basic common shares $ 967 $ 853 Less: Impact of BlackRock earnings per share dilution 4 3 Net income attributable to diluted common shares $ 963 $ 850 Basic weighted-average common shares outstanding 487 501 Dilutive potential common shares 5 6 Diluted weighted-average common shares outstanding 492 507 Diluted earnings per common share (a) $ 1.96 $ 1.68 (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 and restricted share units with nonforfeitable dividends and dividend rights (participating securities). |
Total Equity and Other Compre31
Total Equity and Other Comprehensive Income (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Other Comprehensive Income [Abstract] | |
Rollforward of Total Equity | Table 65: Rollforward of Total Equity 1 Shareholders' Equity In millions Shares Outstanding Common Stock Common Stock Capital Surplus - Preferred Stock Capital Surplus - Common Stock and Other Retained Earnings Accumulated Other Comprehensive Income (Loss) Treasury Stock Non-controlling Interests Total Equity Balance at January 1, 2016 504 $ 2,708 $ 3,452 $ 12,745 $ 29,043 $ 130 $ (3,368) $ 1,270 $ 45,980 Net income 924 19 943 Other comprehensive income (loss), net of tax 402 402 Cash dividends declared Common ($.51 per share) (260) (260) Preferred (64) (64) Preferred stock discount accretion 1 (1) Common stock activity (a) 2 2 Treasury stock activity (5) (11) (423) (434) Other (150) (91) (241) Balance at March 31, 2016 (b) 499 $ 2,708 $ 3,453 $ 12,586 $ 29,642 $ 532 $ (3,791) $ 1,198 $ 46,328 Balance at January 1, 2017 485 $ 2,709 $ 3,977 $ 12,674 $ 31,670 $ (265) $ (5,066) $ 1,155 $ 46,854 Net income 1,057 17 1,074 Other comprehensive income (loss), net of tax (14) (14) Cash dividends declared Common ($.55 per share) (271) (271) Preferred (63) (63) Preferred stock discount accretion 2 (2) Redemption of noncontrolling interests (19) (981) (1,000) Treasury stock activity (c) (216) (257) (473) Other (162) (42) (204) Balance at March 31, 2017 (b) 485 $ 2,709 $ 3,979 $ 12,296 $ 32,372 $ (279) $ (5,323) $ 149 $ 45,903 (a) Common stock activity totaled less than .5 million shares issued. (b) The par value of our preferred stock outstanding was less than $.5 million at each date and, therefore, is excluded from this presentation. (c) Treasury stock activity totaled less than .5 million shares issued. |
Other Comprehensive Income | Details of other comprehensive income (loss) are as follows: Table 66: Other Comprehensive Income Three Months Ended March 31 In millions 2017 2016 Net unrealized gains (losses) on non-OTTI securities Increase in net unrealized gains (losses) on non-OTTI securities $ 67 $ 519 Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income 5 6 Less: Net gains (losses) realized on sales of securities reclassified to noninterest income (7) 9 Net increase (decrease), pre-tax 69 504 Effect of income taxes (25) (185) Net increase (decrease), after-tax 44 319 Net unrealized gains (losses) on OTTI securities Increase in net unrealized gains (losses) on OTTI securities 37 (39) Less: OTTI losses realized on securities reclassified to noninterest income (1) Less: Net gains (losses) realized on sales of securities reclassified to noninterest income 2 Net increase (decrease), pre-tax 35 (38) Effect of income taxes (13) 14 Net increase (decrease), after-tax 22 (24) Net unrealized gains (losses) on cash flow hedge derivatives Increase in net unrealized gains (losses) on cash flow hedge derivatives (22) 265 Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income 46 60 Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income 6 5 Less: Net gains (losses) realized on sales of securities reclassified to noninterest income 3 Net increase (decrease), pre-tax (77) 200 Effect of income taxes 28 (73) Net increase (decrease), after-tax (49) 127 Pension and other postretirement benefit plan adjustments Net pension and other postretirement benefit activity (74) 2 Amortization of actuarial loss (gain) reclassified to other noninterest expense 13 12 Amortization of prior service cost (credit) reclassified to other noninterest expense (1) (2) Net increase (decrease), pre-tax (62) 12 Effect of income taxes 23 (4) Net increase (decrease), after-tax (39) 8 Other PNC's portion of BlackRock's OCI 2 (25) Net investment hedge derivatives (14) 29 Foreign currency translation adjustments and other 16 (29) SBA I/O Strip sold (2) Net increase (decrease), pre-tax 4 (27) Effect of income taxes 4 (1) Net increase (decrease), after-tax 8 (28) Total other comprehensive income (loss), pre-tax (31) 651 Total other comprehensive income, tax effect 17 (249) Total other comprehensive income (loss), after-tax $ (14) $ 402 |
Accumulated Other Comprehensive Income (Loss) Components | Table 67: Accumulated Other Comprehensive Income (Loss) Components In millions, after-tax Net unrealized gains (losses) on non-OTTI securities Net unrealized gains (losses) on OTTI securities Net unrealized gains (losses) on cash flow hedge derivatives Pension and other postretirement benefit plan adjustments Other Total Balance at December 31, 2015 $ 286 $ 66 $ 430 $ (554) $ (98) $ 130 Net activity 319 (24) 127 8 (28) 402 Balance at March 31, 2016 $ 605 $ 42 $ 557 $ (546) $ (126) $ 532 Balance at December 31, 2016 $ 52 $ 106 $ 333 $ (553) $ (203) $ (265) Net activity 44 22 (49) (39) 8 (14) Balance at March 31, 2017 $ 96 $ 128 $ 284 $ (592) $ (195) $ (279) |
Commitments (Tables)
Commitments (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Commitments [Abstract] | |
Commitments to Extend Credit and Other Commitments | Table 68: Commitments to Extend Credit and Other Commitments March 31 December 31 In millions 2017 2016 Commitments to extend credit Total commercial lending $ 106,308 $ 108,256 Home equity lines of credit 17,719 17,438 Credit card 22,807 22,095 Other 4,431 4,192 Total commitments to extend credit 151,265 151,981 Net outstanding standby letters of credit (a) 8,558 8,324 Reinsurance agreements (b) 1,766 1,835 Standby bond purchase agreements (c) 788 790 Other commitments (d) 1,073 967 Total commitments to extend credit and other commitments $ 163,450 $ 163,897 (a) Net outstanding standby letters of credit include $3.9 billion at both March 31, 2017 and December 31, 2016, which support remarketing programs. (b) Represents aggregate maximum exposure up to the specified limits of the reinsurance contracts and reflects estimates based on availability of financial information from insurance carriers. As of March 31, 2017 and December 31, 2016, the aggregate maximum exposure amount comprised $1.5 billion for accidental death & dismemberment contracts and $.3 billion for credit life, accident & health contracts. (c) We enter into standby bond purchase agreements to support municipal bond obligations. (d) Includes $.5 billion related to investments in qualified affordable housing projects at both March 31, 2017 and December 31, 2016. |
Segment Reporting (Tables)
Segment Reporting (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Segment Reporting [Abstract] | |
Results of Businesses | Table 69: Results of Businesses Corporate & Asset Three months ended March 31 Retail Institutional Management In millions Banking Banking Group BlackRock Other Consolidated (a) 2017 Income Statement Net interest income $ 1,120 $ 802 $ 71 $ 167 $ 2,160 Noninterest income 603 524 218 $ 186 193 1,724 Total revenue 1,723 1,326 289 186 360 3,884 Provision for credit losses (benefit) 71 25 (2) (6) 88 Depreciation and amortization 42 36 11 125 214 Other noninterest expense 1,273 548 206 161 2,188 Income before income taxes and noncontrolling interests 337 717 74 186 80 1,394 Income taxes (benefit) 124 233 27 41 (105) 320 Net income $ 213 $ 484 $ 47 $ 145 $ 185 $ 1,074 Average Assets (b) $ 87,109 $ 142,592 $ 7,476 $ 6,983 $ 122,256 $ 366,416 2016 Income Statement Net interest income $ 1,121 $ 785 $ 77 $ 115 $ 2,098 Noninterest income 633 441 203 $ 141 149 1,567 Total revenue 1,754 1,226 280 141 264 3,665 Provision for credit losses (benefit) 72 102 (3) (19) 152 Depreciation and amortization 44 36 11 111 202 Other noninterest expense 1,255 497 195 132 2,079 Income before income taxes and noncontrolling interests 383 591 77 141 40 1,232 Income taxes (benefit) 140 193 28 27 (99) 289 Net income $ 243 $ 398 $ 49 $ 114 $ 139 $ 943 Average Assets (b) $ 86,213 $ 137,270 $ 7,887 $ 6,775 $ 117,768 $ 355,913 (a) There were no material intersegment revenues for the three months ended March 31, 2017 and 2016. (b) Period-end balances for BlackRock. |
Loan Sale and Servicing Activ34
Loan Sale and Servicing Activities and Variable Interest Entities (Narrative) (Details) - Cumulative effect of adopting ASU 2014-01 [Member] - Low Income Housing Tax Credit Investments [Member] $ in Millions | 3 Months Ended |
Mar. 31, 2017USD ($) | |
Amortization Recognized Low Income Housing Tax Credit Investments | $ 100 |
Tax Credits Recognized Low Income Housing Tax Credit Investments | 100 |
Other Tax Benefits Recognized Low Income Housing Tax Credit Investments | $ 21 |
Loan Sale and Servicing Activ35
Loan Sale and Servicing Activities and Variable Interest Entities (Cash Flows Associated with Loan Sale and Servicing Activities) (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Residential Mortgages [Member] | |||
Carrying value of mortgage-backed securities held | $ 6,900,000,000 | $ 6,600,000,000 | $ 6,900,000,000 |
Cash flows from sales of loans | 1,594,000,000 | 1,438,000,000 | |
Cash flows from repurchases of previously transferred loans | 131,000,000 | 160,000,000 | |
Cash flows from servicing fees | 94,000,000 | 93,000,000 | |
Cash flows from servicing advances recovered | 42,000,000 | 28,000,000 | |
Cash flows on mortgage-backed securities held | 349,000,000 | 352,000,000 | |
Gain (loss) recognized on sale of loans | |||
Commercial Mortgages [Member] | |||
Carrying value of mortgage-backed securities held | 700,000,000 | 1,200,000,000 | $ 900,000,000 |
Cash flows from sales of loans | 1,617,000,000 | 650,000,000 | |
Cash flows from servicing fees | 33,000,000 | 30,000,000 | |
Cash flows from servicing advances recovered | 31,000,000 | 31,000,000 | |
Cash flows on mortgage-backed securities held | 129,000,000 | 105,000,000 | |
Gain (loss) recognized on sale of loans |
Loan Sale and Servicing Activ36
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, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Residential Mortgages [Member] | |||
Total principal balance | $ 64,825,000,000 | $ 66,081,000,000 | |
Delinquent loans | 1,248,000,000 | 1,422,000,000 | |
Net charge-offs | 25,000,000 | $ 26,000,000 | |
Commercial Mortgages [Member] | |||
Total principal balance | 45,043,000,000 | 45,855,000,000 | |
Delinquent loans | 1,148,000,000 | $ 941,000,000 | |
Net charge-offs | $ 355,000,000 | $ 912,000,000 |
Loan Sale and Servicing Activ37
Loan Sale and Servicing Activities and Variable Interest Entities (Non-Consolidated VIEs) (Details) - Variable Interest Entity, Primary Beneficiary [Member] - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
PNC Risk of Loss | $ 10,965 | $ 11,086 |
Carrying Value of Assets Owned by PNC | 10,944 | 11,046 |
Carrying Value of Liabilities Owned by PNC | 865 | 823 |
Mortgage-Backed Securitizations [Member] | ||
PNC Risk of Loss | 7,771 | 8,003 |
Carrying Value of Assets Owned by PNC | 7,771 | 8,003 |
Tax Credit Investments And Other [Member] | ||
PNC Risk of Loss | 3,194 | 3,083 |
Carrying Value of Assets Owned by PNC | 3,173 | 3,043 |
Carrying Value of Liabilities Owned by PNC | $ 865 | $ 823 |
Asset Quality (Narrative) (Deta
Asset Quality (Narrative) (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Nonperforming loans | $ 1,998,000,000 | $ 2,144,000,000 | |
Purchased Impaired Loans - Recorded Investment | 2,811,000,000 | $ 3,380,000,000 | |
Total consumer lending [Member] | |||
Nonperforming loans | 1,449,000,000 | 1,489,000,000 | |
Purchased Impaired Loans - Recorded Investment | 2,729,000,000 | 3,231,000,000 | 2,800,000,000 |
Total home equity and residential real estate loans [Member] | |||
Government insured or guaranteed residential real estate mortgages | 800,000,000 | 800,000,000 | |
TDRs [Member] | |||
Associated Allowance for TDRs | 252,000,000 | 310,000,000 | |
Recorded Investment - Subsequently defaulted TDRs | 32,000,000 | 27,000,000 | |
TDRs [Member] | Total consumer lending [Member] | |||
Associated Allowance for TDRs | 215,000,000 | $ 261,000,000 | |
Nonperforming [Member] | |||
Troubled debt restructurings (TDRs) | 1,000,000,000 | 1,100,000,000 | |
Performing, including Consumer Credit Card TDRs [Member] | |||
Troubled debt restructurings (TDRs) | 1,100,000,000 | 1,100,000,000 | |
Federal Reserve Bank [Member] | |||
Loans pledged as collateral for contingent borrowings | 21,600,000,000 | 22,000,000,000 | |
Federal Home Loan Bank [Member] | |||
Loans pledged as collateral for contingent borrowings | $ 61,100,000,000 | $ 60,800,000,000 |
Asset Quality (Analysis of Loan
Asset Quality (Analysis of Loan Portfolio) (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | |
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | [1] | $ 212,826 | $ 210,833 | $ 207,485 |
Percentage Of Total Loans | 100.00% | 100.00% | ||
Unearned income, net deferred loan fees, unamortized discounts and premiums, and purchase discounts and premiums | $ 1,200 | $ 1,300 | ||
Current or Less Than 30 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | $ 206,416 | $ 203,938 | ||
Percentage Of Total Loans | 96.99% | 96.73% | ||
30-59 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | $ 458 | $ 562 | ||
Percentage Of Total Loans | 0.22% | 0.27% | ||
60-89 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | $ 227 | $ 232 | ||
Percentage Of Total Loans | 0.11% | 0.11% | ||
90 Days or More Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | $ 699 | $ 782 | ||
Percentage Of Total Loans | 0.33% | 0.37% | ||
Total Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | $ 1,384 | $ 1,576 | ||
Percentage Of Total Loans | 0.65% | 0.75% | ||
Nonperforming Loans [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | $ 1,998 | $ 2,144 | ||
Percentage Of Total Loans | 0.94% | 1.02% | ||
Fair Value Option Nonaccrual Loans [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | $ 217 | $ 219 | ||
Percentage Of Total Loans | 0.10% | 0.10% | ||
Purchased Impaired Loans [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | $ 2,811 | $ 2,956 | ||
Percentage Of Total Loans | 1.32% | 1.40% | ||
Total commercial lending [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | $ 140,662 | $ 137,955 | 135,130 | |
Total commercial lending [Member] | Current or Less Than 30 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 139,860 | 137,014 | ||
Total commercial lending [Member] | 30-59 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 96 | 115 | ||
Total commercial lending [Member] | 60-89 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 35 | 23 | ||
Total commercial lending [Member] | 90 Days or More Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 40 | 39 | ||
Total commercial lending [Member] | Total Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 171 | 177 | ||
Total commercial lending [Member] | Nonperforming Loans [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 549 | 655 | ||
Total commercial lending [Member] | Purchased Impaired Loans [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 82 | 109 | ||
Total consumer lending [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 72,164 | 72,878 | $ 72,355 | |
Total consumer lending [Member] | Current or Less Than 30 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 66,556 | 66,924 | ||
Total consumer lending [Member] | 30-59 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 362 | 447 | ||
Total consumer lending [Member] | 60-89 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 192 | 209 | ||
Total consumer lending [Member] | 90 Days or More Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 659 | 743 | ||
Total consumer lending [Member] | Total Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 1,213 | 1,399 | ||
Total consumer lending [Member] | Nonperforming Loans [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 1,449 | 1,489 | ||
Total consumer lending [Member] | Fair Value Option Nonaccrual Loans [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 217 | 219 | ||
Total consumer lending [Member] | Purchased Impaired Loans [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 2,729 | 2,847 | ||
Commercial [Member] | Total commercial lending [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 103,765 | 101,364 | ||
Commercial [Member] | Total commercial lending [Member] | Current or Less Than 30 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 103,217 | 100,710 | ||
Commercial [Member] | Total commercial lending [Member] | 30-59 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 62 | 81 | ||
Commercial [Member] | Total commercial lending [Member] | 60-89 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 29 | 20 | ||
Commercial [Member] | Total commercial lending [Member] | 90 Days or More Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 40 | 39 | ||
Commercial [Member] | Total commercial lending [Member] | Total Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 131 | 140 | ||
Commercial [Member] | Total commercial lending [Member] | Nonperforming Loans [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 400 | 496 | ||
Commercial [Member] | Total commercial lending [Member] | Purchased Impaired Loans [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 17 | 18 | ||
Commercial Real Estate [Member] | Total commercial lending [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 29,435 | 29,010 | ||
Commercial Real Estate [Member] | Total commercial lending [Member] | Current or Less Than 30 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 29,212 | 28,769 | ||
Commercial Real Estate [Member] | Total commercial lending [Member] | 30-59 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 15 | 5 | ||
Commercial Real Estate [Member] | Total commercial lending [Member] | 60-89 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 6 | 2 | ||
Commercial Real Estate [Member] | Total commercial lending [Member] | Total Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 21 | 7 | ||
Commercial Real Estate [Member] | Total commercial lending [Member] | Nonperforming Loans [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 137 | 143 | ||
Commercial Real Estate [Member] | Total commercial lending [Member] | Purchased Impaired Loans [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 65 | 91 | ||
Equipment Lease Financing [Member] | Total commercial lending [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 7,462 | 7,581 | ||
Equipment Lease Financing [Member] | Total commercial lending [Member] | Current or Less Than 30 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 7,431 | 7,535 | ||
Equipment Lease Financing [Member] | Total commercial lending [Member] | 30-59 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 19 | 29 | ||
Equipment Lease Financing [Member] | Total commercial lending [Member] | 60-89 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 1 | |||
Equipment Lease Financing [Member] | Total commercial lending [Member] | Total Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 19 | 30 | ||
Equipment Lease Financing [Member] | Total commercial lending [Member] | Nonperforming Loans [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 12 | 16 | ||
Home Equity [Member] | Total consumer lending [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 29,577 | 29,949 | ||
Home Equity [Member] | Total consumer lending [Member] | Current or Less Than 30 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 27,541 | 27,820 | ||
Home Equity [Member] | Total consumer lending [Member] | 30-59 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 57 | 64 | ||
Home Equity [Member] | Total consumer lending [Member] | 60-89 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 23 | 30 | ||
Home Equity [Member] | Total consumer lending [Member] | Total Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 80 | 94 | ||
Home Equity [Member] | Total consumer lending [Member] | Nonperforming Loans [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 900 | 914 | ||
Home Equity [Member] | Total consumer lending [Member] | Purchased Impaired Loans [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 1,056 | 1,121 | ||
Residential Real Estate [Member] | Total consumer lending [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 15,781 | 15,598 | ||
Residential Real Estate [Member] | Total consumer lending [Member] | Current or Less Than 30 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 12,787 | 12,425 | ||
Residential Real Estate [Member] | Total consumer lending [Member] | 30-59 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 122 | 159 | ||
Residential Real Estate [Member] | Total consumer lending [Member] | 60-89 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 77 | 68 | ||
Residential Real Estate [Member] | Total consumer lending [Member] | 90 Days or More Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 432 | 500 | ||
Residential Real Estate [Member] | Total consumer lending [Member] | Total Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 631 | 727 | ||
Residential Real Estate [Member] | Total consumer lending [Member] | Total Past Due [Member] | Government Insured or Guaranteed Loans [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 600 | 600 | ||
Residential Real Estate [Member] | Total consumer lending [Member] | Nonperforming Loans [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 473 | 501 | ||
Residential Real Estate [Member] | Total consumer lending [Member] | Fair Value Option Nonaccrual Loans [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 217 | 219 | ||
Residential Real Estate [Member] | Total consumer lending [Member] | Purchased Impaired Loans [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 1,673 | 1,726 | ||
Credit Card [Member] | Total consumer lending [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 5,112 | 5,282 | ||
Credit Card [Member] | Total consumer lending [Member] | Current or Less Than 30 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 5,018 | 5,187 | ||
Credit Card [Member] | Total consumer lending [Member] | 30-59 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 32 | 33 | ||
Credit Card [Member] | Total consumer lending [Member] | 60-89 Days Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 21 | 21 | ||
Credit Card [Member] | Total consumer lending [Member] | 90 Days or More Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 37 | 37 | ||
Credit Card [Member] | Total consumer lending [Member] | Total Past Due [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 90 | 91 | ||
Credit Card [Member] | Total consumer lending [Member] | Nonperforming Loans [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 4 | 4 | ||
Automobile [Member] | Total consumer lending [Member] | Other Consumer [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 12,337 | 12,380 | ||
Automobile [Member] | Total consumer lending [Member] | Current or Less Than 30 Days Past Due [Member] | Other Consumer [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 12,226 | 12,257 | ||
Automobile [Member] | Total consumer lending [Member] | 30-59 Days Past Due [Member] | Other Consumer [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 35 | 51 | ||
Automobile [Member] | Total consumer lending [Member] | 60-89 Days Past Due [Member] | Other Consumer [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 10 | 12 | ||
Automobile [Member] | Total consumer lending [Member] | 90 Days or More Past Due [Member] | Other Consumer [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 5 | 5 | ||
Automobile [Member] | Total consumer lending [Member] | Total Past Due [Member] | Other Consumer [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 50 | 68 | ||
Automobile [Member] | Total consumer lending [Member] | Nonperforming Loans [Member] | Other Consumer [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 61 | 55 | ||
Education and other [Member] | Total consumer lending [Member] | Other Consumer [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 9,357 | 9,669 | ||
Education and other [Member] | Total consumer lending [Member] | Current or Less Than 30 Days Past Due [Member] | Other Consumer [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 8,984 | 9,235 | ||
Education and other [Member] | Total consumer lending [Member] | 30-59 Days Past Due [Member] | Other Consumer [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 116 | 140 | ||
Education and other [Member] | Total consumer lending [Member] | 60-89 Days Past Due [Member] | Other Consumer [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 61 | 78 | ||
Education and other [Member] | Total consumer lending [Member] | 90 Days or More Past Due [Member] | Other Consumer [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 185 | 201 | ||
Education and other [Member] | Total consumer lending [Member] | Total Past Due [Member] | Other Consumer [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 362 | 419 | ||
Education and other [Member] | Total consumer lending [Member] | Total Past Due [Member] | Government Insured or Guaranteed Loans [Member] | Other Consumer [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | 300 | 400 | ||
Education and other [Member] | Total consumer lending [Member] | Nonperforming Loans [Member] | Other Consumer [Member] | ||||
financingreceivablerecordedinvestmentpastduelineitems | ||||
Total Loans | $ 11 | $ 15 | ||
[1] | Our consolidated assets included the following for which we have elected the fair value option: Loans held for sale of $1.3 billion, Loans of $.9 billion and Other assets of $.3 billion at March 31, 2017 and Loans held for sale of $2.4 billion, Loans of $.9 billion and Other assets of $.5 billion at December 31, 2016. |
Asset Quality (Nonperforming As
Asset Quality (Nonperforming Assets) (Details) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 |
Total nonperforming loans | $ 1,998,000,000 | $ 2,144,000,000 |
OREO and Foreclosed Assets | 214,000,000 | 230,000,000 |
Total nonperforming assets | $ 2,212,000,000 | $ 2,374,000,000 |
Nonperforming loans to total loans | 0.94% | 1.02% |
Nonperforming assets to total loans, OREO and foreclosed assets | 1.04% | 1.12% |
Nonperforming assets to total assets | 0.60% | 0.65% |
Mortgage loans in process of foreclosure | $ 400,000,000 | $ 400,000,000 |
Government Insured or Guaranteed Loans [Member] | ||
Mortgage loans in process of foreclosure | 200,000,000 | 200,000,000 |
Total commercial lending [Member] | ||
Total nonperforming loans | 549,000,000 | 655,000,000 |
Total consumer lending [Member] | ||
Total nonperforming loans | $ 1,449,000,000 | $ 1,489,000,000 |
Asset Quality (Commercial Lendi
Asset Quality (Commercial Lending Asset Quality Indicators) (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | |
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | [1] | $ 212,826 | $ 210,833 | $ 207,485 |
Total commercial lending [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | 140,662 | 137,955 | $ 135,130 | |
Total commercial lending [Member] | Commercial [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | 103,765 | 101,364 | ||
Total commercial lending [Member] | Commercial Real Estate [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | 29,435 | 29,010 | ||
Total commercial lending [Member] | Equipment Lease Financing [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | 7,462 | 7,581 | ||
Pass [Member] | Total commercial lending [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | 134,656 | 132,187 | ||
Pass [Member] | Total commercial lending [Member] | Commercial [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | 98,379 | 96,231 | ||
Pass [Member] | Total commercial lending [Member] | Commercial Real Estate [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | 28,983 | 28,561 | ||
Pass [Member] | Total commercial lending [Member] | Equipment Lease Financing [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | 7,294 | 7,395 | ||
Special Mention [Member] | Total commercial lending [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | 2,086 | 1,799 | ||
Special Mention [Member] | Total commercial lending [Member] | Commercial [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | 1,894 | 1,612 | ||
Special Mention [Member] | Total commercial lending [Member] | Commercial Real Estate [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | 122 | 98 | ||
Special Mention [Member] | Total commercial lending [Member] | Equipment Lease Financing [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | 70 | 89 | ||
Substandard [Member] | Total commercial lending [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | 3,768 | 3,867 | ||
Substandard [Member] | Total commercial lending [Member] | Commercial [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | 3,367 | 3,449 | ||
Substandard [Member] | Total commercial lending [Member] | Commercial Real Estate [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | 309 | 327 | ||
Substandard [Member] | Total commercial lending [Member] | Equipment Lease Financing [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | 92 | 91 | ||
Doubtful [Member] | Total commercial lending [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | 152 | 102 | ||
Doubtful [Member] | Total commercial lending [Member] | Commercial [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | 125 | 72 | ||
Doubtful [Member] | Total commercial lending [Member] | Commercial Real Estate [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | 21 | 24 | ||
Doubtful [Member] | Total commercial lending [Member] | Equipment Lease Financing [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | $ 6 | $ 6 | ||
[1] | Our consolidated assets included the following for which we have elected the fair value option: Loans held for sale of $1.3 billion, Loans of $.9 billion and Other assets of $.3 billion at March 31, 2017 and Loans held for sale of $2.4 billion, Loans of $.9 billion and Other assets of $.5 billion at December 31, 2016. |
Asset Quality (Consumer Real Es
Asset Quality (Consumer Real Estate Secured Asset Quality Indicators) (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
% of Loans | 100.00% | 100.00% |
Home Equity [Member] | 1st Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | $ 16,621 | $ 16,600 |
Home Equity [Member] | 2nd Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 11,901 | 12,228 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 13,286 | 13,028 |
Total home equity and residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | $ 41,808 | $ 41,856 |
Total home equity and residential real estate loans [Member] | New Jersey [Member] | High Risk [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
% of Loans | 16.00% | 16.00% |
Total home equity and residential real estate loans [Member] | Pennsylvania [Member] | High Risk [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
% of Loans | 13.00% | 14.00% |
Total home equity and residential real estate loans [Member] | Illinois [Member] | High Risk [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
% of Loans | 12.00% | 12.00% |
Total home equity and residential real estate loans [Member] | Ohio [Member] | High Risk [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
% of Loans | 9.00% | 10.00% |
Total home equity and residential real estate loans [Member] | Florida [Member] | High Risk [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
% of Loans | 6.00% | 7.00% |
Total home equity and residential real estate loans [Member] | Maryland [Member] | High Risk [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
% of Loans | 8.00% | 6.00% |
Total home equity and residential real estate loans [Member] | Michigan [Member] | High Risk [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
% of Loans | 5.00% | 4.00% |
Total home equity and residential real estate loans [Member] | North Carolina [Member] | High Risk [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
% of Loans | 5.00% | 4.00% |
Total home equity and residential real estate loans [Member] | All Other States Maximum [Member] | High Risk [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
% of Loans | 4.00% | 4.00% |
Total home equity and residential real estate loans [Member] | All Other States [Member] | High Risk [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
% of Loans | 26.00% | 27.00% |
LTV greater than or equal to 125% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Home Equity [Member] | 1st Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | $ 149 | $ 161 |
LTV greater than or equal to 125% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Home Equity [Member] | 2nd Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 576 | 629 |
LTV greater than or equal to 125% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 146 | 174 |
LTV greater than or equal to 125% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Total home equity and residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 871 | 964 |
LTV greater than or equal to 125% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Home Equity [Member] | 1st Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 25 | 32 |
LTV greater than or equal to 125% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Home Equity [Member] | 2nd Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 101 | 110 |
LTV greater than or equal to 125% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 33 | 35 |
LTV greater than or equal to 125% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Total home equity and residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 159 | 177 |
LTV greater than or equal to 125% and updated FICO scores [Member] | FICO Score- Missing [Member] | Home Equity [Member] | 1st Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 1 | 1 |
LTV greater than or equal to 125% and updated FICO scores [Member] | FICO Score- Missing [Member] | Home Equity [Member] | 2nd Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 9 | 9 |
LTV greater than or equal to 125% and updated FICO scores [Member] | FICO Score- Missing [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 3 | 2 |
LTV greater than or equal to 125% and updated FICO scores [Member] | FICO Score- Missing [Member] | Total home equity and residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 13 | 12 |
LTV greater than or equal to 100% to less than 125% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Home Equity [Member] | 1st Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 360 | 394 |
LTV greater than or equal to 100% to less than 125% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Home Equity [Member] | 2nd Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 1,112 | 1,190 |
LTV greater than or equal to 100% to less than 125% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 320 | 345 |
LTV greater than or equal to 100% to less than 125% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Total home equity and residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 1,792 | 1,929 |
LTV greater than or equal to 100% to less than 125% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Home Equity [Member] | 1st Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 67 | 66 |
LTV greater than or equal to 100% to less than 125% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Home Equity [Member] | 2nd Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 200 | 211 |
LTV greater than or equal to 100% to less than 125% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 81 | 76 |
LTV greater than or equal to 100% to less than 125% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Total home equity and residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 348 | 353 |
LTV greater than or equal to 100% to less than 125% and updated FICO scores [Member] | FICO Score- Missing [Member] | Home Equity [Member] | 1st Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 3 | 3 |
LTV greater than or equal to 100% to less than 125% and updated FICO scores [Member] | FICO Score- Missing [Member] | Home Equity [Member] | 2nd Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 10 | 10 |
LTV greater than or equal to 100% to less than 125% and updated FICO scores [Member] | FICO Score- Missing [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 5 | 7 |
LTV greater than or equal to 100% to less than 125% and updated FICO scores [Member] | FICO Score- Missing [Member] | Total home equity and residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 18 | 20 |
LTV greater than or equal to 90% to less than 100% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Home Equity [Member] | 1st Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 430 | 453 |
LTV greater than or equal to 90% to less than 100% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Home Equity [Member] | 2nd Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 1,047 | 1,100 |
LTV greater than or equal to 90% to less than 100% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 431 | 463 |
LTV greater than or equal to 90% to less than 100% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Total home equity and residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 1,908 | 2,016 |
LTV greater than or equal to 90% to less than 100% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Home Equity [Member] | 1st Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 69 | 77 |
LTV greater than or equal to 90% to less than 100% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Home Equity [Member] | 2nd Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 161 | 171 |
LTV greater than or equal to 90% to less than 100% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 75 | 78 |
LTV greater than or equal to 90% to less than 100% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Total home equity and residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 305 | 326 |
LTV greater than or equal to 90% to less than 100% and updated FICO scores [Member] | FICO Score- Missing [Member] | Home Equity [Member] | 1st Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 2 | 1 |
LTV greater than or equal to 90% to less than 100% and updated FICO scores [Member] | FICO Score- Missing [Member] | Home Equity [Member] | 2nd Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 8 | 8 |
LTV greater than or equal to 90% to less than 100% and updated FICO scores [Member] | FICO Score- Missing [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 6 | 6 |
LTV greater than or equal to 90% to less than 100% and updated FICO scores [Member] | FICO Score- Missing [Member] | Total home equity and residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 16 | 15 |
LTV less than 90% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Home Equity [Member] | 1st Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 14,150 | 14,047 |
LTV less than 90% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Home Equity [Member] | 2nd Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 7,815 | 7,913 |
LTV less than 90% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 11,499 | 11,153 |
LTV less than 90% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Total home equity and residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 33,464 | 33,113 |
LTV less than 90% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Home Equity [Member] | 1st Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 1,323 | 1,323 |
LTV less than 90% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Home Equity [Member] | 2nd Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 808 | 822 |
LTV less than 90% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 597 | 586 |
LTV less than 90% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Total home equity and residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 2,728 | 2,731 |
LTV less than 90% and updated FICO scores [Member] | FICO Score- Missing [Member] | Home Equity [Member] | 1st Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 42 | 42 |
LTV less than 90% and updated FICO scores [Member] | FICO Score- Missing [Member] | Home Equity [Member] | 2nd Liens [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 54 | 55 |
LTV less than 90% and updated FICO scores [Member] | FICO Score- Missing [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 90 | 102 |
LTV less than 90% and updated FICO scores [Member] | FICO Score- Missing [Member] | Total home equity and residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 186 | 199 |
Missing LTV and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | 0 | 1 |
Missing LTV and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Total home equity and residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans - Excluding purchased impaired loans | $ 0 | $ 1 |
Asset Quality (Credit Card and
Asset Quality (Credit Card and Other Consumer Loan Classes Asset Quality Indicators) (Details) $ in Millions | Mar. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Mar. 31, 2016USD ($) | |
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | [1] | $ 212,826 | $ 210,833 | $ 207,485 |
% of Loans | 100.00% | 100.00% | ||
Credit Card [Member] | Using FICO Credit Metric [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | $ 5,112 | $ 5,282 | ||
% of Loans | 100.00% | 100.00% | ||
Weighted average FICO score | 734 | 736 | ||
Credit Card [Member] | FICO Score - Greater than 719 [Member] | Using FICO Credit Metric [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | $ 3,071 | $ 3,244 | ||
% of Loans | 60.00% | 61.00% | ||
Credit Card [Member] | FICO Score - 650 to 719 [Member] | Using FICO Credit Metric [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | $ 1,448 | $ 1,466 | ||
% of Loans | 28.00% | 28.00% | ||
Credit Card [Member] | FICO Score - 620 to 649 [Member] | Using FICO Credit Metric [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | $ 219 | $ 215 | ||
% of Loans | 4.00% | 4.00% | ||
Credit Card [Member] | FICO Score - Less than 620 [Member] | Using FICO Credit Metric [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | $ 239 | $ 229 | ||
% of Loans | 5.00% | 4.00% | ||
Credit Card [Member] | No FICO Score Available Or Required [Member] | Using FICO Credit Metric [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | $ 135 | $ 128 | ||
% of Loans | 3.00% | 3.00% | ||
Other Consumer Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | $ 21,694 | $ 22,049 | ||
Other Consumer Loans [Member] | Using FICO Credit Metric [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | $ 15,747 | $ 15,793 | ||
% of Loans | 100.00% | 100.00% | ||
Weighted average FICO score | 742 | 744 | ||
Other Consumer Loans [Member] | FICO Score - Greater than 719 [Member] | Using FICO Credit Metric [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | $ 10,062 | $ 10,247 | ||
% of Loans | 64.00% | 65.00% | ||
Other Consumer Loans [Member] | FICO Score - 650 to 719 [Member] | Using FICO Credit Metric [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | $ 4,025 | $ 3,873 | ||
% of Loans | 26.00% | 25.00% | ||
Other Consumer Loans [Member] | FICO Score - 620 to 649 [Member] | Using FICO Credit Metric [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | $ 596 | $ 552 | ||
% of Loans | 4.00% | 3.00% | ||
Other Consumer Loans [Member] | FICO Score - Less than 620 [Member] | Using FICO Credit Metric [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | $ 674 | $ 632 | ||
% of Loans | 4.00% | 4.00% | ||
Other Consumer Loans [Member] | No FICO Score Available Or Required [Member] | Using FICO Credit Metric [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | $ 390 | $ 489 | ||
% of Loans | 2.00% | 3.00% | ||
Other Consumer Loans [Member] | Other Internal Credit Metrics [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Loans | $ 5,947 | $ 6,256 | ||
[1] | Our consolidated assets included the following for which we have elected the fair value option: Loans held for sale of $1.3 billion, Loans of $.9 billion and Other assets of $.3 billion at March 31, 2017 and Loans held for sale of $2.4 billion, Loans of $.9 billion and Other assets of $.5 billion at December 31, 2016. |
Asset Quality (Financial Impact
Asset Quality (Financial Impact and TDRs by Concession Type) (Details) $ in Millions | 3 Months Ended | |
Mar. 31, 2017USD ($)loans | Mar. 31, 2016USD ($)loans | |
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | loans | 2,948 | 3,007 |
Pre-TDR Recorded Investment | $ 108 | $ 236 |
Post-TDR Recorded Investment | 83 | 216 |
Principal Forgiveness [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | 4 | |
Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | 43 | 54 |
Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | $ 36 | $ 162 |
Total commercial lending [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | loans | 49 | 42 |
Pre-TDR Recorded Investment | $ 35 | $ 168 |
Post-TDR Recorded Investment | 15 | 152 |
Total commercial lending [Member] | Principal Forgiveness [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | 4 | |
Total commercial lending [Member] | Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | 6 | 10 |
Total commercial lending [Member] | Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | $ 5 | $ 142 |
Total consumer lending [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | loans | 2,899 | 2,965 |
Pre-TDR Recorded Investment | $ 73 | $ 68 |
Post-TDR Recorded Investment | 68 | 64 |
Total consumer lending [Member] | Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | 37 | 44 |
Total consumer lending [Member] | Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-TDR Recorded Investment | $ 31 | $ 20 |
Asset Quality (Impaired Loans)
Asset Quality (Impaired Loans) (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | |
Unpaid Principal Balance - Impaired Financing Receivable [Abstract] | |||
Unpaid principal balance - Impaired loans with an associated allowance | $ 1,849,000,000 | $ 1,979,000,000 | |
Unpaid principal balance - Impaired loans without an associated allowance | 1,574,000,000 | 1,429,000,000 | |
Unpaid principal balance - Total impaired loans | 3,423,000,000 | 3,408,000,000 | |
Recorded Investment - Impaired Financing Receivable [Abstract] | |||
Recorded investment - Impaired loans with an associated allowance | 1,550,000,000 | 1,662,000,000 | |
Recorded investment - Impaired loans without an associated allowance | 931,000,000 | 930,000,000 | |
Recorded investment - Total impaired loans | 2,481,000,000 | 2,592,000,000 | |
Associated Allowance - Total impaired loans | 305,000,000 | 331,000,000 | |
Average Recorded Receivable - Impaired Financing Receivable [Abstract] | |||
Average recorded investment - Impaired loans with an associated allowance | 1,606,000,000 | 1,752,000,000 | |
Average recorded investment - Impaired loans without an associated allowance | 931,000,000 | 969,000,000 | |
Average recorded investment - Total impaired loans | 2,537,000,000 | 2,721,000,000 | |
Total commercial lending [Member] | |||
Unpaid Principal Balance - Impaired Financing Receivable [Abstract] | |||
Unpaid principal balance - Impaired loans with an associated allowance | 613,000,000 | 742,000,000 | |
Unpaid principal balance - Impaired loans without an associated allowance | 617,000,000 | 447,000,000 | |
Recorded Investment - Impaired Financing Receivable [Abstract] | |||
Recorded investment - Impaired loans with an associated allowance | 372,000,000 | 477,000,000 | |
Recorded investment - Impaired loans without an associated allowance | 345,000,000 | 322,000,000 | |
Associated Allowance - Total impaired loans | 90,000,000 | 105,000,000 | |
Average Recorded Receivable - Impaired Financing Receivable [Abstract] | |||
Average recorded investment - Impaired loans with an associated allowance | 425,000,000 | 497,000,000 | |
Average recorded investment - Impaired loans without an associated allowance | 333,000,000 | 365,000,000 | |
Total consumer lending [Member] | |||
Unpaid Principal Balance - Impaired Financing Receivable [Abstract] | |||
Unpaid principal balance - Impaired loans with an associated allowance | 1,236,000,000 | 1,237,000,000 | |
Unpaid principal balance - Impaired loans without an associated allowance | 957,000,000 | 982,000,000 | |
Recorded Investment - Impaired Financing Receivable [Abstract] | |||
Recorded investment - Impaired loans with an associated allowance | 1,178,000,000 | 1,185,000,000 | |
Recorded investment - Impaired loans without an associated allowance | 586,000,000 | 608,000,000 | |
Associated Allowance - Total impaired loans | 215,000,000 | 226,000,000 | |
Average Recorded Receivable - Impaired Financing Receivable [Abstract] | |||
Average recorded investment - Impaired loans with an associated allowance | 1,181,000,000 | 1,255,000,000 | |
Average recorded investment - Impaired loans without an associated allowance | 598,000,000 | $ 604,000,000 | |
TDRs [Member] | |||
Recorded Investment - Impaired Financing Receivable [Abstract] | |||
Associated Allowance for TDRs | 252,000,000 | $ 310,000,000 | |
TDRs [Member] | Total commercial lending [Member] | |||
Recorded Investment - Impaired Financing Receivable [Abstract] | |||
Associated Allowance for TDRs | 37,000,000 | 49,000,000 | |
TDRs [Member] | Total consumer lending [Member] | |||
Recorded Investment - Impaired Financing Receivable [Abstract] | |||
Associated Allowance for TDRs | $ 215,000,000 | $ 261,000,000 |
Allowances for Loan and Lease46
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, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Beginning Balance | $ 2,589,000,000 | $ 2,727,000,000 | ||
Charge-offs | (198,000,000) | (236,000,000) | ||
Recoveries | 80,000,000 | 87,000,000 | ||
Net charge-offs | (118,000,000) | (149,000,000) | ||
Provision For Credit Losses | 88,000,000 | 152,000,000 | ||
Net change in allowance for unfunded loan commitments and letters of credit | (4,000,000) | (21,000,000) | ||
Other | 6,000,000 | 2,000,000 | ||
Ending Balance | 2,561,000,000 | 2,711,000,000 | ||
Loans collectively evaluated for impairment - associated allowance | 1,938,000,000 | 1,974,000,000 | ||
Impaired loans - associated allowance | 305,000,000 | $ 331,000,000 | ||
Loans collectively evaluated for impairment | 206,660,000,000 | 200,383,000,000 | ||
Fair value option loans | 874,000,000 | 895,000,000 | ||
Purchased impaired loans | 2,811,000,000 | 3,380,000,000 | ||
Total loans | [1] | $ 212,826,000,000 | $ 207,485,000,000 | 210,833,000,000 |
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 | 1.20% | 1.31% | ||
TDRs [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Loans individually evaluated for impairment - associated allowance | $ 252,000,000 | $ 310,000,000 | ||
Loans individually evaluated for impairment | 2,130,000,000 | 2,391,000,000 | ||
Other Loans [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Loans individually evaluated for impairment - associated allowance | 53,000,000 | 115,000,000 | ||
Loans individually evaluated for impairment | 351,000,000 | 436,000,000 | ||
Purchased Impaired Loans [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Impaired loans - associated allowance | 318,000,000 | 312,000,000 | ||
Total commercial lending [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Beginning Balance | 1,534,000,000 | 1,605,000,000 | ||
Charge-offs | (55,000,000) | (89,000,000) | ||
Recoveries | 32,000,000 | 46,000,000 | ||
Net charge-offs | (23,000,000) | (43,000,000) | ||
Provision For Credit Losses | 23,000,000 | 84,000,000 | ||
Net change in allowance for unfunded loan commitments and letters of credit | (5,000,000) | (19,000,000) | ||
Other | 1,000,000 | 1,000,000 | ||
Ending Balance | 1,530,000,000 | 1,628,000,000 | ||
Loans collectively evaluated for impairment - associated allowance | 1,412,000,000 | 1,414,000,000 | ||
Impaired loans - associated allowance | 90,000,000 | 105,000,000 | ||
Loans collectively evaluated for impairment | 139,863,000,000 | 134,045,000,000 | ||
Purchased impaired loans | 82,000,000 | 149,000,000 | ||
Total loans | $ 140,662,000,000 | $ 135,130,000,000 | 137,955,000,000 | |
Portfolio segment ALLL as a percentage of total ALLL | 60.00% | 60.00% | ||
Ratio of the allowance for loan and lease losses to total loans | 1.09% | 1.20% | ||
Total commercial lending [Member] | TDRs [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Loans individually evaluated for impairment - associated allowance | $ 37,000,000 | $ 49,000,000 | ||
Loans individually evaluated for impairment | 366,000,000 | 500,000,000 | ||
Total commercial lending [Member] | Other Loans [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Loans individually evaluated for impairment - associated allowance | 53,000,000 | 115,000,000 | ||
Loans individually evaluated for impairment | 351,000,000 | 436,000,000 | ||
Total commercial lending [Member] | Purchased Impaired Loans [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Impaired loans - associated allowance | 28,000,000 | 50,000,000 | ||
Total consumer lending [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Beginning Balance | 1,055,000,000 | 1,122,000,000 | ||
Charge-offs | (143,000,000) | (147,000,000) | ||
Recoveries | 48,000,000 | 41,000,000 | ||
Net charge-offs | (95,000,000) | (106,000,000) | ||
Provision For Credit Losses | 65,000,000 | 68,000,000 | ||
Net change in allowance for unfunded loan commitments and letters of credit | 1,000,000 | (2,000,000) | ||
Other | 5,000,000 | 1,000,000 | ||
Ending Balance | 1,031,000,000 | 1,083,000,000 | ||
Loans collectively evaluated for impairment - associated allowance | 526,000,000 | 560,000,000 | ||
Impaired loans - associated allowance | 215,000,000 | 226,000,000 | ||
Loans collectively evaluated for impairment | 66,797,000,000 | 66,338,000,000 | ||
Fair value option loans | 874,000,000 | 895,000,000 | ||
Purchased impaired loans | 2,729,000,000 | 3,231,000,000 | 2,800,000,000 | |
Total loans | $ 72,164,000,000 | $ 72,355,000,000 | $ 72,878,000,000 | |
Portfolio segment ALLL as a percentage of total ALLL | 40.00% | 40.00% | ||
Ratio of the allowance for loan and lease losses to total loans | 1.43% | 1.50% | ||
Total consumer lending [Member] | TDRs [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Loans individually evaluated for impairment - associated allowance | $ 215,000,000 | $ 261,000,000 | ||
Loans individually evaluated for impairment | 1,764,000,000 | 1,891,000,000 | ||
Total consumer lending [Member] | Purchased Impaired Loans [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Impaired loans - associated allowance | $ 290,000,000 | $ 262,000,000 | ||
[1] | Our consolidated assets included the following for which we have elected the fair value option: Loans held for sale of $1.3 billion, Loans of $.9 billion and Other assets of $.3 billion at March 31, 2017 and Loans held for sale of $2.4 billion, Loans of $.9 billion and Other assets of $.5 billion at December 31, 2016. |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Schedule of Investments [Line Items] | ||
Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held | $ 1,100 | |
Other Than Temporary Impairment Credit Losses Recognized In Earnings Period Increase (Decrease) | ||
Other Than Temporary Impairment Noncredit Losses Recognized In AOCI On Debt Securities Held, net of tax | ||
Gain on derivatives used to hedge purchase of investment securities | 52 | |
Federal National Mortgage Association Certificates And Obligations [FNMA Member] | ||
Schedule of Investments [Line Items] | ||
Fair value of debt securities of a single issuer that exceeeds 10 percent of shareholders equity | 28,800 | |
Amortized cost of debt securities of a single issuer that exceeeds 10 percent of shareholders equity | $ 29,100 |
Investment Securities (Summary)
Investment Securities (Summary) (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | $ 59,033 | $ 59,906 |
Securities available for sale debt securities, unrealized gains | 789 | 736 |
Securities available for sale debt securities, unrealized losses | (483) | (538) |
Securities available for sale, fair value | 59,339 | 60,104 |
Held to Maturity Securities, Amortized Cost, Total | 17,093 | 15,843 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 58,516 | 59,303 |
Securities available for sale debt securities, unrealized gains | 789 | 736 |
Securities available for sale debt securities, unrealized losses | (481) | (536) |
Securities available for sale, fair value | 58,824 | 59,503 |
Held to Maturity Securities, Amortized Cost, Total | 17,093 | 15,843 |
Held-to-maturity securities, unrealized gains | 229 | 220 |
Held-to-maturity securities, unrealized losses | (212) | (197) |
Held-to-maturity securities, fair value | 17,110 | 15,866 |
US Treasury and Government Agencies Securities [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 12,787 | 13,100 |
Securities available for sale debt securities, unrealized gains | 185 | 151 |
Securities available for sale debt securities, unrealized losses | (62) | (77) |
Securities available for sale, fair value | 12,910 | 13,174 |
Held to Maturity Securities, Amortized Cost, Total | 531 | 527 |
Held-to-maturity securities, unrealized gains | 36 | 35 |
Held-to-maturity securities, unrealized losses | (18) | (22) |
Held-to-maturity securities, fair value | 549 | 540 |
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 | 26,329 | 26,245 |
Securities available for sale debt securities, unrealized gains | 153 | 170 |
Securities available for sale debt securities, unrealized losses | (293) | (287) |
Securities available for sale, fair value | 26,189 | 26,128 |
Held to Maturity Securities, Amortized Cost, Total | 12,344 | 11,074 |
Held-to-maturity securities, unrealized gains | 66 | 68 |
Held-to-maturity securities, unrealized losses | (172) | (161) |
Held-to-maturity securities, fair value | 12,238 | 10,981 |
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 | 3,011 | 3,191 |
Securities available for sale debt securities, unrealized gains | 236 | 227 |
Securities available for sale debt securities, unrealized losses | (44) | (52) |
Securities available for sale, fair value | 3,203 | 3,366 |
Held to Maturity Securities, Amortized Cost, Total | 185 | 191 |
Held-to-maturity securities, unrealized gains | 6 | 7 |
Held-to-maturity securities, fair value | 191 | 198 |
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 | 2,037 | 2,150 |
Securities available for sale debt securities, unrealized gains | 4 | 3 |
Securities available for sale debt securities, unrealized losses | (35) | (34) |
Securities available for sale, fair value | 2,006 | 2,119 |
Held to Maturity Securities, Amortized Cost, Total | 882 | 903 |
Held-to-maturity securities, unrealized gains | 18 | 24 |
Held-to-maturity securities, fair value | 900 | 927 |
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 | 3,846 | 4,023 |
Securities available for sale debt securities, unrealized gains | 28 | 29 |
Securities available for sale debt securities, unrealized losses | (11) | (27) |
Securities available for sale, fair value | 3,863 | 4,025 |
Held to Maturity Securities, Amortized Cost, Total | 561 | 567 |
Held-to-maturity securities, unrealized gains | 10 | 10 |
Held-to-maturity securities, fair value | 571 | 577 |
Asset Backed Securities [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 5,934 | 5,938 |
Securities available for sale debt securities, unrealized gains | 59 | 52 |
Securities available for sale debt securities, unrealized losses | (13) | (22) |
Securities available for sale, fair value | 5,980 | 5,968 |
Held to Maturity Securities, Amortized Cost, Total | 552 | 558 |
Held-to-maturity securities, unrealized gains | 1 | |
Held-to-maturity securities, unrealized losses | (1) | (2) |
Held-to-maturity securities, fair value | 552 | 556 |
Other debt [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 4,572 | 4,656 |
Securities available for sale debt securities, unrealized gains | 124 | 104 |
Securities available for sale debt securities, unrealized losses | (23) | (37) |
Securities available for sale, fair value | 4,673 | 4,723 |
Held to Maturity Securities, Amortized Cost, Total | 2,038 | 2,023 |
Held-to-maturity securities, unrealized gains | 92 | 76 |
Held-to-maturity securities, unrealized losses | (21) | (12) |
Held-to-maturity securities, fair value | 2,109 | 2,087 |
Corporate Stocks And Other [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale equity securities, fair value | 515 | 601 |
Securities available for sale equity securities, unrealized losses | (2) | (2) |
Securities available for sale equity securities, amortized cost | $ 517 | $ 603 |
Investment Securities (Gross Un
Investment Securities (Gross Unrealized Loss and Fair Value of Securities Available for Sale) (Details) - Debt Securities [Member] - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | |||
AFS unrealized loss position less than 12 months - unrealized loss | $ (393) | $ (410) | |
AFS unrealized loss position less than 12 months - fair value | 24,441 | 25,760 | |
AFS unrealized loss position 12 months or more - unrealized loss | (88) | (126) | |
AFS unrealized loss position 12 months or more - fair value | 3,891 | 6,287 | |
Total AFS unrealized loss | (481) | (536) | |
Total AFS fair value | 28,332 | 32,047 | |
HTM unrealized loss position less than 12 months - unrealized loss | (203) | (187) | |
HTM unrealized loss position less than 12 months - fair value | 8,437 | 8,425 | |
HTM unrealized loss position 12 months or more - unrealized loss | (9) | (10) | |
HTM unrealized loss position 12 months or more - fair value | 408 | 613 | |
Total HTM unrealized loss | (212) | (197) | |
Total HTM fair value | 8,845 | 9,038 | |
US Treasury and Government Agencies Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
AFS unrealized loss position less than 12 months - unrealized loss | (50) | (57) | |
AFS unrealized loss position less than 12 months - fair value | 2,756 | 3,108 | |
AFS unrealized loss position 12 months or more - unrealized loss | (12) | (20) | |
AFS unrealized loss position 12 months or more - fair value | 869 | 2,028 | |
Total AFS unrealized loss | (62) | (77) | |
Total AFS fair value | 3,625 | 5,136 | |
HTM unrealized loss position less than 12 months - unrealized loss | (18) | (22) | |
HTM unrealized loss position less than 12 months - fair value | 242 | 238 | |
Total HTM unrealized loss | (18) | (22) | |
Total HTM fair value | 242 | 238 | |
Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Agency [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
AFS unrealized loss position less than 12 months - unrealized loss | (274) | (267) | |
AFS unrealized loss position less than 12 months - fair value | 16,931 | 16,942 | |
AFS unrealized loss position 12 months or more - unrealized loss | (19) | (20) | |
AFS unrealized loss position 12 months or more - fair value | 870 | 922 | |
Total AFS unrealized loss | (293) | (287) | |
Total AFS fair value | 17,801 | 17,864 | |
HTM unrealized loss position less than 12 months - unrealized loss | (164) | (153) | |
HTM unrealized loss position less than 12 months - fair value | 7,961 | 8,041 | |
HTM unrealized loss position 12 months or more - unrealized loss | (8) | (8) | |
HTM unrealized loss position 12 months or more - fair value | 152 | 161 | |
Total HTM unrealized loss | (172) | (161) | |
Total HTM fair value | 8,113 | 8,202 | |
Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
AFS unrealized loss position less than 12 months - unrealized loss | (2) | (1) | |
AFS unrealized loss position less than 12 months - fair value | 152 | 109 | |
AFS unrealized loss position 12 months or more - unrealized loss | (42) | (51) | |
AFS unrealized loss position 12 months or more - fair value | 838 | 1,119 | |
Total AFS unrealized loss | (44) | (52) | |
Total AFS fair value | 990 | 1,228 | |
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities Agency [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
AFS unrealized loss position less than 12 months - unrealized loss | (34) | (33) | |
AFS unrealized loss position less than 12 months - fair value | 1,582 | 1,577 | |
AFS unrealized loss position 12 months or more - unrealized loss | (1) | (1) | |
AFS unrealized loss position 12 months or more - fair value | 39 | 86 | |
Total AFS unrealized loss | (35) | (34) | |
Total AFS fair value | 1,621 | 1,663 | |
HTM unrealized loss position less than 12 months - fair value | 68 | ||
HTM unrealized loss position 12 months or more - fair value | 1 | ||
Total HTM fair value | 69 | ||
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
AFS unrealized loss position less than 12 months - unrealized loss | (10) | (14) | |
AFS unrealized loss position less than 12 months - fair value | 755 | 880 | |
AFS unrealized loss position 12 months or more - unrealized loss | (1) | (13) | |
AFS unrealized loss position 12 months or more - fair value | 377 | 987 | |
Total AFS unrealized loss | (11) | (27) | |
Total AFS fair value | 1,132 | 1,867 | |
HTM unrealized loss position 12 months or more - fair value | 3 | ||
Total HTM fair value | 3 | ||
Asset backed [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
AFS unrealized loss position less than 12 months - unrealized loss | (3) | (5) | |
AFS unrealized loss position less than 12 months - fair value | 1,065 | 1,317 | |
AFS unrealized loss position 12 months or more - unrealized loss | (10) | (17) | |
AFS unrealized loss position 12 months or more - fair value | 606 | 902 | |
Total AFS unrealized loss | (13) | (22) | |
Total AFS fair value | 1,671 | 2,219 | |
HTM unrealized loss position less than 12 months - fair value | 25 | ||
HTM unrealized loss position 12 months or more - unrealized loss | (1) | (2) | |
HTM unrealized loss position 12 months or more - fair value | 251 | 451 | |
Total HTM unrealized loss | (1) | (2) | |
Total HTM fair value | 276 | 451 | |
Other debt [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
AFS unrealized loss position less than 12 months - unrealized loss | (20) | (33) | |
AFS unrealized loss position less than 12 months - fair value | 1,200 | 1,827 | |
AFS unrealized loss position 12 months or more - unrealized loss | (3) | (4) | |
AFS unrealized loss position 12 months or more - fair value | 292 | 243 | |
Total AFS unrealized loss | (23) | (37) | |
Total AFS fair value | 1,492 | 2,070 | |
HTM unrealized loss position less than 12 months - unrealized loss | (21) | (12) | |
HTM unrealized loss position less than 12 months - fair value | 141 | 146 | |
HTM unrealized loss position 12 months or more - unrealized loss | |||
HTM unrealized loss position 12 months or more - fair value | 1 | 1 | |
Total HTM unrealized loss | (21) | (12) | |
Total HTM fair value | $ 142 | $ 147 |
Investment Securities (Gains (L
Investment Securities (Gains (Losses) on Sales of Securities Available for Sale) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Investment Securities Disclosure [Abstract] | ||
Proceeds | $ 3,222 | $ 788 |
Gross Gains | 14 | 9 |
Gross Losses | (16) | |
Net Gains | (2) | 9 |
Tax Expense | $ (1) | $ 3 |
Investment Securities (Contract
Investment Securities (Contractual Maturity of Debt Securities) (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | $ 59,033 | $ 59,906 |
Available-for-sale Securities, Fair value, Total | 59,339 | 60,104 |
Held to Maturity Securities, Amortized Cost, Total | 17,093 | 15,843 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale Securities, Amortized Cost, 1 year or less | 570 | |
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 10,625 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 9,502 | |
Available for Sale Securities, Amortized Cost, After 10 years | 37,819 | |
Securities available for sale, amortized cost | 58,516 | 59,303 |
Available-for-sale Securities, Fair value, 1 year or less | 573 | |
Available-for-sale Securities, Fair value, After 1 year through 5 years | 10,683 | |
Available-for-sale Securities, Fair value, After 5 years through 10 years | 9,536 | |
Available-for-sale Securities, Fair value, After 10 years | 38,032 | |
Available-for-sale Securities, Fair value, Total | $ 58,824 | 59,503 |
Weighted-average yield, GAAP basis, available for sale securities | 2.65% | |
Held to Maturity Securities, Amortized Cost, 1 year or less | $ 96 | |
Held to Maturity Securities, Amortized Cost, After 1 year through 5 years | 1,010 | |
Held to Maturity Securities, Amortized Cost, After 5 years through 10 years | 1,945 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 14,042 | |
Held to Maturity Securities, Amortized Cost, Total | 17,093 | 15,843 |
Held-to-maturity Securities, Fair Value, 1 year or less | 96 | |
Held-to-maturity Securities, Fair Value, After 1 year through 5 years | 1,035 | |
Held-to-maturity Securities, Fair Value, After 5 years through 10 years | 2,004 | |
Held-to-maturity Securities, Fair Value, After 10 years | 13,975 | |
Held-to-maturity Securities, Debt Maturities, Fair Value, Total | $ 17,110 | $ 15,866 |
Weighted-average yield, GAAP basis, held to maturity securities | 3.24% | |
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 | 2.99% | |
Weighted-average yield, GAAP basis, held to maturity securities | 3.67% | |
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 | 2.14% | |
Weighted-average yield, GAAP basis, held to maturity securities | 3.62% | |
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 | 2.15% | |
Weighted-average yield, GAAP basis, held to maturity securities | 3.33% | |
After Ten Years [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Weighted-average yield, GAAP basis, available for sale securities | 2.91% | |
Weighted-average yield, GAAP basis, held to maturity securities | 3.20% | |
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 | $ 157 | |
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 5,714 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 5,745 | |
Available for Sale Securities, Amortized Cost, After 10 years | 1,171 | |
Securities available for sale, amortized cost | 12,787 | |
Held to Maturity Securities, Amortized Cost, After 5 years through 10 years | 109 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 422 | |
Held to Maturity Securities, Amortized Cost, Total | 531 | |
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, 1 year or less | 1 | |
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 81 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 558 | |
Available for Sale Securities, Amortized Cost, After 10 years | 25,689 | |
Securities available for sale, amortized cost | 26,329 | |
Held to Maturity Securities, Amortized Cost, After 1 year through 5 years | 51 | |
Held to Maturity Securities, Amortized Cost, After 5 years through 10 years | 413 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 11,880 | |
Held to Maturity Securities, Amortized Cost, Total | 12,344 | |
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 | 1 | |
Available for Sale Securities, Amortized Cost, After 10 years | 3,010 | |
Securities available for sale, amortized cost | 3,011 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 185 | |
Held to Maturity Securities, Amortized Cost, Total | 185 | |
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 | 74 | |
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 155 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 758 | |
Available for Sale Securities, Amortized Cost, After 10 years | 1,050 | |
Securities available for sale, amortized cost | 2,037 | |
Held to Maturity Securities, Amortized Cost, 1 year or less | 84 | |
Held to Maturity Securities, Amortized Cost, After 1 year through 5 years | 739 | |
Held to Maturity Securities, Amortized Cost, After 5 years through 10 years | 5 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 54 | |
Held to Maturity Securities, Amortized Cost, Total | 882 | |
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 | 108 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 108 | |
Available for Sale Securities, Amortized Cost, After 10 years | 3,630 | |
Securities available for sale, amortized cost | 3,846 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 561 | |
Held to Maturity Securities, Amortized Cost, Total | 561 | |
Asset backed [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale Securities, Amortized Cost, 1 year or less | 28 | |
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 2,255 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 1,764 | |
Available for Sale Securities, Amortized Cost, After 10 years | 1,887 | |
Securities available for sale, amortized cost | 5,934 | |
Held to Maturity Securities, Amortized Cost, After 1 year through 5 years | 1 | |
Held to Maturity Securities, Amortized Cost, After 5 years through 10 years | 451 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 100 | |
Held to Maturity Securities, Amortized Cost, Total | 552 | |
Other debt [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale Securities, Amortized Cost, 1 year or less | 310 | |
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 2,311 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 569 | |
Available for Sale Securities, Amortized Cost, After 10 years | 1,382 | |
Securities available for sale, amortized cost | 4,572 | |
Held to Maturity Securities, Amortized Cost, 1 year or less | 12 | |
Held to Maturity Securities, Amortized Cost, After 1 year through 5 years | 219 | |
Held to Maturity Securities, Amortized Cost, After 5 years through 10 years | 967 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 840 | |
Held to Maturity Securities, Amortized Cost, Total | $ 2,038 |
Investment Securities (Fair Val
Investment Securities (Fair Value of Securities Pledged and Accepted as Collateral) (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Investment Securities Disclosure [Abstract] | ||
Pledged to others | $ 8,889 | $ 9,493 |
Permitted by contract or custom to sell or repledge | 1,693 | 912 |
Permitted amount repledged to others | $ 1,599 | $ 799 |
Fair Value (Recurring Fair Valu
Fair Value (Recurring Fair Value Measurements) (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Assets | ||
Securities available for sale, fair value | $ 59,339 | $ 60,104 |
Mortgage servicing rights | 1,867 | 1,758 |
Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 58,824 | 59,503 |
Securities available for sale, fair value | 59,339 | 60,104 |
Loans | 874 | 893 |
Equity investments | 1,390 | 1,381 |
Trading securities | 2,627 | 2,629 |
Financial derivatives | 3,302 | 4,616 |
Other assets | 649 | 817 |
Total Assets | 71,352 | 74,608 |
Liabilities | ||
Other borrowed funds | 1,662 | 970 |
Financial derivatives | 2,622 | 3,839 |
Other liabilities | 31 | 9 |
Total liabilities | 4,315 | 4,818 |
US Treasury and Government Agencies Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 12,910 | 13,174 |
Residential mortgage-backed Securities [Member] | Mortgage-backed Securities Agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 26,189 | 26,128 |
Residential mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 3,203 | 3,366 |
Commercial mortgage-backed securities [Member] | Mortgage-backed Securities Agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 2,006 | 2,119 |
Commercial mortgage-backed securities [Member] | Mortgage-backed Securities Non-agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 3,863 | 4,025 |
Asset backed [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 5,980 | 5,968 |
Other Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 4,673 | 4,723 |
Corporate Stocks And Other [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Securities available for sale, fair value | 515 | 601 |
Residential Mortgage [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Loans held for sale | 723 | 1,010 |
Mortgage servicing rights | 1,261 | 1,182 |
Commercial Mortgage [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Loans held for sale | 581 | 1,400 |
Mortgage servicing rights | 606 | 576 |
Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 12,312 | 12,572 |
Securities available for sale, fair value | 12,766 | 13,113 |
Trading securities | 1,312 | 1,458 |
Financial derivatives | 13 | 10 |
Other assets | 276 | 266 |
Total Assets | 14,367 | 14,847 |
Liabilities | ||
Other borrowed funds | 1,497 | 799 |
Financial derivatives | 2 | 1 |
Total liabilities | 1,499 | 800 |
Level 1 [Member] | US Treasury and Government Agencies Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 12,312 | 12,572 |
Level 1 [Member] | Corporate Stocks And Other [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Securities available for sale, fair value | 454 | 541 |
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 42,975 | 43,208 |
Securities available for sale, fair value | 43,036 | 43,268 |
Loans | 551 | 558 |
Trading securities | 1,313 | 1,169 |
Financial derivatives | 3,265 | 4,566 |
Other assets | 291 | 312 |
Total Assets | 49,175 | 50,881 |
Liabilities | ||
Other borrowed funds | 158 | 161 |
Financial derivatives | 2,366 | 3,424 |
Total liabilities | 2,524 | 3,585 |
Level 2 [Member] | US Treasury and Government Agencies Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 598 | 602 |
Level 2 [Member] | Residential mortgage-backed Securities [Member] | Mortgage-backed Securities Agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 26,189 | 26,128 |
Level 2 [Member] | Residential mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 107 | 112 |
Level 2 [Member] | Commercial mortgage-backed securities [Member] | Mortgage-backed Securities Agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 2,006 | 2,119 |
Level 2 [Member] | Commercial mortgage-backed securities [Member] | Mortgage-backed Securities Non-agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 3,863 | 4,025 |
Level 2 [Member] | Asset backed [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 5,614 | 5,565 |
Level 2 [Member] | Other Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 4,598 | 4,657 |
Level 2 [Member] | Corporate Stocks And Other [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Securities available for sale, fair value | 61 | 60 |
Level 2 [Member] | Residential Mortgage [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Loans held for sale | 719 | 1,008 |
Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 3,537 | 3,723 |
Securities available for sale, fair value | 3,537 | 3,723 |
Loans | 323 | 335 |
Equity investments | 1,106 | 1,331 |
Trading securities | 2 | 2 |
Financial derivatives | 24 | 40 |
Other assets | 82 | 239 |
Total Assets | 7,526 | 8,830 |
Liabilities | ||
Other borrowed funds | 7 | 10 |
Financial derivatives | 254 | 414 |
Other liabilities | 31 | 9 |
Total liabilities | 292 | 433 |
Level 3 [Member] | Residential mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 3,096 | 3,254 |
Level 3 [Member] | Asset backed [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 366 | 403 |
Level 3 [Member] | Other Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 75 | 66 |
Level 3 [Member] | Residential Mortgage [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Loans held for sale | 4 | 2 |
Mortgage servicing rights | 1,261 | 1,182 |
Level 3 [Member] | Commercial Mortgage [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Loans held for sale | 581 | 1,400 |
Mortgage servicing rights | $ 606 | $ 576 |
Fair Value (Reconciliation of R
Fair Value (Reconciliation of Recurring Fair Value Measurements) (Details) - Fair Value, Measurements, Recurring [Member] - Level 3 [Member] - Derivative Type - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | $ 8,830,000,000 | $ 8,606,000,000 |
Included in earnings | 164,000,000 | (162,000,000) |
Included in other comprehensive income | 31,000,000 | (60,000,000) |
Purchases | 158,000,000 | 116,000,000 |
Sales | (1,822,000,000) | (677,000,000) |
Issuances | 847,000,000 | 667,000,000 |
Settlements | (487,000,000) | (445,000,000) |
Transfers Into Level 3 | 4,000,000 | 2,000,000 |
Transfers Out of Level 3 | (199,000,000) | (18,000,000) |
Ending Balance | 7,526,000,000 | 8,029,000,000 |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 112,000,000 | (201,000,000) |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | 433,000,000 | 495,000,000 |
Included in earnings | 25,000,000 | 7,000,000 |
Sales | 2,000,000 | 2,000,000 |
Issuances | 96,000,000 | 61,000,000 |
Settlements | (264,000,000) | (210,000,000) |
Ending Balance | 292,000,000 | 355,000,000 |
Unrealized gains or (losses) on liabilities held on Consolidated Balance Sheet | 23,000,000 | 8,000,000 |
Fair Value Additional Information [Abstract] | ||
Net gains (losses) included in earnings (realized and unrealized) relating to Level 3 assets and liabilities | 139,000,000 | (169,000,000) |
Net unrealized gains (losses) relating to Level 3 assets and liabilities | 89,000,000 | (209,000,000) |
Loans Held For Sale [Member] | Residential Mortgage [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | 2,000,000 | 5,000,000 |
Purchases | 2,000,000 | 3,000,000 |
Sales | (1,000,000) | |
Transfers Into Level 3 | 2,000,000 | 2,000,000 |
Transfers Out of Level 3 | (2,000,000) | (5,000,000) |
Ending Balance | 4,000,000 | 4,000,000 |
Loans Held For Sale [Member] | Commercial Mortgage [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | 1,400,000,000 | 641,000,000 |
Included in earnings | 9,000,000 | 16,000,000 |
Sales | (1,617,000,000) | (649,000,000) |
Issuances | 801,000,000 | 647,000,000 |
Settlements | (12,000,000) | |
Ending Balance | 581,000,000 | 655,000,000 |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | (5,000,000) | 12,000,000 |
Available-for-sale Securities [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | 3,723,000,000 | 4,535,000,000 |
Included in earnings | 30,000,000 | 25,000,000 |
Included in other comprehensive income | 31,000,000 | (58,000,000) |
Purchases | 1,000,000 | 2,000,000 |
Sales | (26,000,000) | (2,000,000) |
Settlements | (222,000,000) | (197,000,000) |
Ending Balance | 3,537,000,000 | 4,305,000,000 |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | (1,000,000) | |
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 | 3,254,000,000 | 4,008,000,000 |
Included in earnings | 26,000,000 | 22,000,000 |
Included in other comprehensive income | 18,000,000 | (45,000,000) |
Settlements | (202,000,000) | (175,000,000) |
Ending Balance | 3,096,000,000 | 3,810,000,000 |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | (1,000,000) | |
Available-for-sale Securities [Member] | Asset backed [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | 403,000,000 | 482,000,000 |
Included in earnings | 4,000,000 | 3,000,000 |
Included in other comprehensive income | 4,000,000 | (12,000,000) |
Sales | (25,000,000) | |
Settlements | (20,000,000) | (22,000,000) |
Ending Balance | 366,000,000 | 451,000,000 |
Available-for-sale Securities [Member] | Other debt [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | 66,000,000 | 45,000,000 |
Included in other comprehensive income | 9,000,000 | (1,000,000) |
Purchases | 1,000,000 | 2,000,000 |
Sales | (1,000,000) | (2,000,000) |
Ending Balance | 75,000,000 | 44,000,000 |
Loans [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | 335,000,000 | 340,000,000 |
Included in earnings | 1,000,000 | 2,000,000 |
Purchases | 22,000,000 | 33,000,000 |
Sales | (4,000,000) | (8,000,000) |
Settlements | (19,000,000) | (25,000,000) |
Transfers Into Level 3 | 2,000,000 | |
Transfers Out of Level 3 | (14,000,000) | (13,000,000) |
Ending Balance | 323,000,000 | 329,000,000 |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 1,000,000 | |
Equity Investments [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | 1,331,000,000 | 1,098,000,000 |
Included in earnings | 96,000,000 | 51,000,000 |
Purchases | 37,000,000 | 23,000,000 |
Sales | (175,000,000) | (16,000,000) |
Transfers Out of Level 3 | (183,000,000) | |
Ending Balance | 1,106,000,000 | 1,156,000,000 |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 67,000,000 | 50,000,000 |
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | 1,182,000,000 | 1,063,000,000 |
Included in earnings | 18,000,000 | (226,000,000) |
Purchases | 83,000,000 | 52,000,000 |
Issuances | 17,000,000 | 11,000,000 |
Settlements | (39,000,000) | (37,000,000) |
Ending Balance | 1,261,000,000 | 863,000,000 |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 17,000,000 | (225,000,000) |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | 576,000,000 | 526,000,000 |
Included in earnings | 13,000,000 | (55,000,000) |
Purchases | 13,000,000 | 3,000,000 |
Issuances | 29,000,000 | 9,000,000 |
Settlements | (25,000,000) | (23,000,000) |
Ending Balance | 606,000,000 | 460,000,000 |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 13,000,000 | (55,000,000) |
Trading Securities [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | 2,000,000 | 3,000,000 |
Settlements | (1,000,000) | |
Ending Balance | 2,000,000 | 2,000,000 |
Financial Derivatives [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | 40,000,000 | 31,000,000 |
Included in earnings | (1,000,000) | 34,000,000 |
Settlements | (15,000,000) | (24,000,000) |
Ending Balance | 24,000,000 | 41,000,000 |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 22,000,000 | 28,000,000 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | 414,000,000 | 473,000,000 |
Included in earnings | 9,000,000 | 7,000,000 |
Sales | 2,000,000 | 2,000,000 |
Settlements | (171,000,000) | (149,000,000) |
Ending Balance | 254,000,000 | 333,000,000 |
Unrealized gains or (losses) on liabilities held on Consolidated Balance Sheet | 7,000,000 | 8,000,000 |
Other Assets [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | 239,000,000 | 364,000,000 |
Included in earnings | (2,000,000) | (9,000,000) |
Included in other comprehensive income | (2,000,000) | |
Sales | (1,000,000) | |
Settlements | (155,000,000) | (138,000,000) |
Ending Balance | 82,000,000 | 214,000,000 |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | (2,000,000) | (11,000,000) |
Other Borrowed Funds [Member] | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | 10,000,000 | 12,000,000 |
Issuances | 19,000,000 | 23,000,000 |
Settlements | (22,000,000) | (27,000,000) |
Ending Balance | 7,000,000 | 8,000,000 |
Other Liabilities | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | 9,000,000 | 10,000,000 |
Included in earnings | 16,000,000 | |
Issuances | 77,000,000 | 38,000,000 |
Settlements | (71,000,000) | (34,000,000) |
Ending Balance | 31,000,000 | $ 14,000,000 |
Unrealized gains or (losses) on liabilities held on Consolidated Balance Sheet | $ 16,000,000 |
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 | |
Mar. 31, 2017 | Dec. 31, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 7,500,000,000 | $ 8,800,000,000 |
Recurring Liabilities - Fair Value | 300,000,000 | 400,000,000 |
Total Recurring Assets Net of Recurring Liabilities - Fair Value | 7,234,000,000 | 8,397,000,000 |
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 | $ 581,000,000 | $ 1,400,000,000 |
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 | 0.40% | 0.42% |
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 | 135.20% | 17.25% |
Estimated servicing cash flows | 5.40% | 7.30% |
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 | 10.46% | 3.62% |
Estimated servicing cash flows | 2.00% | 1.50% |
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 | $ 3,096,000,000 | $ 3,254,000,000 |
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 | 10.00% | 10.00% |
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] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 24.20% | 24.20% |
Constant default rate (CDR) | 16.70% | 16.70% |
Loss Severity | 98.50% | 98.50% |
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) | 7.40% | 7.20% |
Constant default rate (CDR) | 5.20% | 5.30% |
Loss Severity | 53.40% | 53.50% |
Spread over the benchmark curve | 2.25% | 2.36% |
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 | $ 366,000,000 | $ 403,000,000 |
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) | 2.00% | 2.00% |
Loss Severity | 24.20% | 24.20% |
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) | 16.00% | 16.00% |
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) | 6.50% | 6.40% |
Constant default rate (CDR) | 6.50% | 6.60% |
Loss Severity | 75.50% | 77.30% |
Spread over the benchmark curve | 2.56% | 2.78% |
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 | $ 113,000,000 | $ 116,000,000 |
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 | 4.40% | 4.20% |
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 | $ 136,000,000 | $ 141,000,000 |
Loans - Residential real estate [Member] | Consensus Pricing [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cumulative default rate | 11.00% | 11.00% |
Loss Severity | 0.00% | 0.00% |
Discount rate | 4.70% | 4.70% |
Loans - Residential real estate [Member] | Consensus Pricing [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cumulative default rate | 100.00% | 100.00% |
Loss Severity | 100.00% | 100.00% |
Discount rate | 7.50% | 6.70% |
Loans - Residential real estate [Member] | Consensus Pricing [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cumulative default rate | 85.40% | 86.90% |
Loss Severity | 21.40% | 22.90% |
Discount rate | 5.10% | 5.10% |
Loans - Home equity [Member] | Consensus Pricing [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 74,000,000 | $ 78,000,000 |
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 | 0.00% | 0.00% |
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 | 58.60% | 57.90% |
Equity Investments [Member] | Consensus Pricing [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liquidity Discount | 0.00% | |
Equity Investments [Member] | Consensus Pricing [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liquidity Discount | 40.00% | |
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 | $ 1,106,000,000 | |
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 | 4.5 | 4.5 |
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 | 13.4 | 12 |
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 | 8 | 7.8 |
Equity Investments [Member] | Multiple Of Adjusted Earnings and Consensus Pricing [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 1,331,000,000 | |
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 | $ 1,261,000,000 | $ 1,182,000,000 |
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) | 0.10% | 0.00% |
Spread over the benchmark curve | 2.24% | 3.41% |
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) | 38.10% | 36.00% |
Spread over the benchmark curve | 19.00% | 19.13% |
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) | 9.30% | 9.40% |
Spread over the benchmark curve | 8.50% | 8.50% |
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 | $ 606,000,000 | $ 576,000,000 |
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) | 7.10% | 7.50% |
Discount rate | 5.00% | 3.50% |
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) | 37.80% | 43.40% |
Discount rate | 7.70% | 7.60% |
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) | 8.10% | 8.60% |
Discount rate | 7.60% | 7.50% |
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 | $ 232,000,000 | |
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 | 15.00% | |
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 | 25.00% | |
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% | |
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 | $ 232,000,000 | |
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 | 15.00% | |
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 | 25.00% | |
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% | |
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 | $ 165,000,000 | $ 164,000,000 |
Estimated growth rate of Visa Class A share price | 14.00% | 14.00% |
Estimated length of litigation resolution date | Jun. 30, 2019 | Jun. 30, 2019 |
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 | 164.40% | 164.40% |
Insignificant Assets, Net of Liabilities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 60,000,000 | $ 80,000,000 |
Fair Value (Nonrecurring Fair V
Fair Value (Nonrecurring Fair Value Measurements) (Details) - Fair Value, Measurements, Nonrecurring [Member] - Level 3 [Member] - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Nonrecurring Assets - Fair Value | $ 211 | $ 313 | |
Nonrecurring Assets - Gains (Losses) | (7) | $ (62) | |
Nonaccrual Loans [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Nonrecurring Assets - Fair Value | 146 | 187 | |
Nonrecurring Assets - Gains (Losses) | (6) | (47) | |
OREO and Foreclosed Assets [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Nonrecurring Assets - Fair Value | 56 | 107 | |
Nonrecurring Assets - Gains (Losses) | (4) | (8) | |
Insignificant Assets | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Nonrecurring Assets - Fair Value | 9 | $ 19 | |
Nonrecurring Assets - Gains (Losses) | $ 3 | $ (7) |
Fair Value (Fair Value Measur57
Fair Value (Fair Value Measurements- Nonrecurring Quantitative Information) (Details) - Fair Value, Measurements, Nonrecurring [Member] - Level 3 [Member] - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Dec. 31, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | $ 211 | $ 313 |
Nonaccrual Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | 146 | 187 |
Nonaccrual Loans [Member] | LGD percentage [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | $ 70 | $ 112 |
Nonaccrual Loans [Member] | LGD percentage [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loss Severity | 6.40% | 6.00% |
Nonaccrual Loans [Member] | LGD percentage [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loss Severity | 86.80% | 77.10% |
Nonaccrual Loans [Member] | LGD percentage [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loss Severity | 23.30% | 31.30% |
Nonaccrual Loans [Member] | Fair Value Of Collateral [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | $ 76 | $ 75 |
OREO and Foreclosed Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | 56 | 107 |
OREO and Foreclosed Assets [Member] | Fair Value Of Collateral [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | 56 | 107 |
Insignificant Assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | $ 9 | $ 19 |
Fair Value (Fair Value Option -
Fair Value (Fair Value Option - Fair Value and Principal Balances) (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Loans Held For Sale [Member] | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | $ 723 | $ 1,010 |
Aggregate Unpaid Principal Balance - Assets | 697 | 998 |
Difference - Assets | 26 | 12 |
Loans Held For Sale [Member] | Commercial Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 581 | 1,400 |
Aggregate Unpaid Principal Balance - Assets | 615 | 1,421 |
Difference - Assets | (34) | (21) |
Loans Held For Sale [Member] | Performing Loans [Member] | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 711 | 1,000 |
Aggregate Unpaid Principal Balance - Assets | 684 | 988 |
Difference - Assets | 27 | 12 |
Loans Held For Sale [Member] | Performing Loans [Member] | Commercial Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 578 | 1,395 |
Aggregate Unpaid Principal Balance - Assets | 610 | 1,412 |
Difference - Assets | (32) | (17) |
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 | 3 | 4 |
Aggregate Unpaid Principal Balance - Assets | 3 | 4 |
Loans Held For Sale [Member] | Nonaccrual Loans [Member] | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 9 | 6 |
Aggregate Unpaid Principal Balance - Assets | 10 | 6 |
Difference - Assets | (1) | |
Loans Held For Sale [Member] | Nonaccrual Loans [Member] | Commercial Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 3 | 5 |
Aggregate Unpaid Principal Balance - Assets | 5 | 9 |
Difference - Assets | (2) | (4) |
Loans [Member] | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 874 | 893 |
Aggregate Unpaid Principal Balance - Assets | 1,037 | 1,063 |
Difference - Assets | (163) | (170) |
Loans [Member] | Performing Loans [Member] | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 279 | 247 |
Aggregate Unpaid Principal Balance - Assets | 320 | 289 |
Difference - Assets | (41) | (42) |
Loans [Member] | Accruing loans 90 days or more past due | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 378 | 427 |
Aggregate Unpaid Principal Balance - Assets | 378 | 428 |
Difference - Assets | (1) | |
Loans [Member] | Nonaccrual Loans [Member] | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 217 | 219 |
Aggregate Unpaid Principal Balance - Assets | 339 | 346 |
Difference - Assets | (122) | (127) |
Other Assets [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 272 | 293 |
Aggregate Unpaid Principal Balance - Assets | 278 | 288 |
Difference - Assets | (6) | 5 |
Other Borrowed Funds [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Liabilities | 57 | 81 |
Aggregate Unpaid Principal Balance - Liabilities | 58 | 82 |
Difference - Liabilities | $ (1) | $ (1) |
Fair Value (Fair Value Option59
Fair Value (Fair Value Option - Changes in Fair Value) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Loans Held For Sale [Member] | Residential Mortgage [Member] | ||
Gains (Losses) - FVO: Changes in Fair Value | $ 30 | $ 47 |
Loans Held For Sale [Member] | Commercial Mortgage [Member] | ||
Gains (Losses) - FVO: Changes in Fair Value | 18 | 27 |
Loans [Member] | Residential Mortgage [Member] | ||
Gains (Losses) - FVO: Changes in Fair Value | 4 | 6 |
Other Assets [Member] | ||
Gains (Losses) - FVO: Changes in Fair Value | 7 | $ (27) |
Other liabilities [Member] | ||
Gains (Losses) - FVO: Changes in Fair Value | $ (16) |
Fair Value (Additional Fair Val
Fair Value (Additional Fair Value Information Related To Financial Instruments) (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Carrying Amount [Member] | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings | ||
Cash and due from banks | $ 5,003 | $ 4,879 |
Interest-earning deposits with banks | 27,877 | 25,711 |
Securities held to maturity | 17,093 | 15,843 |
Net loans (excludes leases) | 201,921 | 199,766 |
Other assets | 5,512 | 4,793 |
Total assets | 257,406 | 250,992 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Deposits | 260,710 | 257,164 |
Borrowed funds | 53,400 | 51,736 |
Unfunded loan commitments and letters of credit | 305 | 301 |
Other Liabilities | 388 | 417 |
Total liabilities | 314,803 | 309,618 |
Fair Value [Member] | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings | ||
Cash and due from banks | 5,003 | 4,879 |
Interest-earning deposits with banks | 27,877 | 25,711 |
Securities held to maturity | 17,110 | 15,866 |
Net loans (excludes leases) | 203,319 | 201,863 |
Other assets | 6,025 | 5,243 |
Total assets | 259,334 | 253,562 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Deposits | 260,552 | 257,038 |
Borrowed funds | 54,134 | 52,322 |
Unfunded loan commitments and letters of credit | 305 | 301 |
Other Liabilities | 388 | 417 |
Total liabilities | 315,379 | 310,078 |
Fair Value [Member] | Level 1 [Member] | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings | ||
Cash and due from banks | 5,003 | 4,879 |
Securities held to maturity | 549 | 540 |
Total assets | 5,552 | 5,419 |
Fair Value [Member] | Level 2 [Member] | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings | ||
Interest-earning deposits with banks | 27,877 | 25,711 |
Securities held to maturity | 16,428 | 15,208 |
Other assets | 5,387 | 4,666 |
Total assets | 49,692 | 45,585 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Deposits | 260,552 | 257,038 |
Borrowed funds | 52,743 | 50,941 |
Other Liabilities | 388 | 417 |
Total liabilities | 313,683 | 308,396 |
Fair Value [Member] | Level 3 [Member] | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings | ||
Securities held to maturity | 133 | 118 |
Net loans (excludes leases) | 203,319 | 201,863 |
Other assets | 638 | 577 |
Total assets | 204,090 | 202,558 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Borrowed funds | 1,391 | 1,381 |
Unfunded loan commitments and letters of credit | 305 | 301 |
Total liabilities | $ 1,696 | $ 1,682 |
Goodwill and Other Intangible61
Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Finite-Lived Intangible Assets [Line Items] | |||
Mortgage servicing rights | $ 1,867 | $ 1,758 | |
Fees from Mortgage and Other Loan Servicing | $ 100 | $ 100 |
Goodwill and Other Intangible62
Goodwill and Other Intangible Assets (Mortgage Servicing Rights) (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Servicing Assets At Fair Value [Line Items] | ||
Mortgage servicing rights, beginning balance | $ 1,758,000,000 | |
Mortgage servicing rights, ending balance | 1,867,000,000 | |
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Mortgage servicing rights, beginning balance | 1,182,000,000 | $ 1,063,000,000 |
Mortgage servicing rights, ending balance | 1,261,000,000 | 863,000,000 |
Unpaid principal balance of loans serviced for others at end of period | 130,382,000,000 | 124,839,000,000 |
Servicing Advances | 260,000,000 | 383,000,000 |
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | Time and Payoffs [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Changes in Fair Value | (39,000,000) | (37,000,000) |
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | Other [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Changes in Fair Value | 18,000,000 | (226,000,000) |
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | From loans sold with servicing retained [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Additions | 17,000,000 | 11,000,000 |
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | Purchases [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Additions | 83,000,000 | 52,000,000 |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Mortgage servicing rights, beginning balance | 576,000,000 | 526,000,000 |
Mortgage servicing rights, ending balance | 606,000,000 | 460,000,000 |
Unpaid principal balance of loans serviced for others at end of period | 143,908,000,000 | 143,922,000,000 |
Servicing Advances | 234,000,000 | 220,000,000 |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | Time and Payoffs [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Changes in Fair Value | (25,000,000) | (23,000,000) |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | Other [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Changes in Fair Value | 13,000,000 | (55,000,000) |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | From loans sold with servicing retained [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Additions | 29,000,000 | 9,000,000 |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | Purchases [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Additions | $ 13,000,000 | $ 3,000,000 |
Goodwill and Other Intangible63
Goodwill and Other Intangible Assets (Commercial and Residential Mortgage Loan Servicing Assets - Key Valuation Assumptions) (Details) - USD ($) | 3 Months Ended | |||
Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | |
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 | $ 1,867,000,000 | $ 1,758,000,000 | ||
Mortgage Servicing Rights [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 | $ 606,000,000 | $ 576,000,000 | $ 460,000,000 | $ 526,000,000 |
Weighted-average life | 4 years 6 months | 4 years 7 months | ||
Constant prepayment rate (CPR) | 8.14% | 8.61% | ||
Decline in fair value from 10% adverse change in prepayment rate | $ 11,000,000 | $ 11,000,000 | ||
Decline in fair value from 20% adverse change in prepayment rate | $ 21,000,000 | $ 21,000,000 | ||
Discount rate | 7.58% | 7.52% | ||
Decline in fair value from 10% adverse change in interest rate | $ 17,000,000 | $ 16,000,000 | ||
Decline in fair value from 20% adverse change in interest rate | 33,000,000 | 31,000,000 | ||
Mortgage Servicing Rights [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 | $ 1,261,000,000 | $ 1,182,000,000 | $ 863,000,000 | $ 1,063,000,000 |
Weighted-average life | 6 years 10 months | 6 years 10 months | ||
Constant prepayment rate (CPR) | 9.34% | 9.41% | ||
Decline in fair value from 10% adverse change in prepayment rate | $ 47,000,000 | $ 45,000,000 | ||
Decline in fair value from 20% adverse change in prepayment rate | $ 90,000,000 | $ 86,000,000 | ||
Spread over the benchmark curve | 8.50% | 8.50% | ||
Decline in fair value from 10% adverse change in adjusted spread | $ 39,000,000 | $ 37,000,000 | ||
Decline in fair value from 20% adverse change in adjusted spread | $ 76,000,000 | $ 72,000,000 |
Employee Benefit Plans (Compone
Employee Benefit Plans (Components of Net Periodic Benefit Cost) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Qualified Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | $ 26 | $ 26 |
Interest cost | 45 | 46 |
Expected return on plan assets | (71) | (70) |
Amortization of prior service cost/(credit) | (1) | (2) |
Amortization of actuarial losses | 12 | 11 |
Net periodic cost/(benefit) | 11 | 11 |
Nonqualified Retirement Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 1 | |
Interest cost | 3 | 3 |
Amortization of actuarial losses | 1 | 1 |
Net periodic cost/(benefit) | 5 | 4 |
Postretirement Benefits | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 1 | 1 |
Interest cost | 4 | 4 |
Expected return on plan assets | (1) | (1) |
Net periodic cost/(benefit) | $ 4 | $ 4 |
Financial Derivatives (Narrativ
Financial Derivatives (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Derivative [Line Items] | ||
Cash And Securities Held To Collateralize Net Derivative Assets | $ 800 | |
Cash And Securities Pledged To Collateralize Net Derivative Liabilities | 1,300 | |
Aggregate fair value of all derivative instruments with credit-risk-related contingent features | 1,000 | |
Collateral posted on derivative instruments with credit-risk-related contingent features | 500 | |
Maximum amount of collateral PNC would have been required to post if the credit-risk-related contingent features underlying these agreements had been triggered | $ 500 | |
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Maximum length of time over which forecasted loan cash flows are hedged | 7 years | |
Gain Loss From Components Excluded From Assessment Of Cash Flow Hedge Effectiveness Net | $ 0 | $ 0 |
Gain Loss On Discontinuation Of Cash Flow Hedge Due To Forecasted Transaction Probable Of Not Occurring Net | $ 0 | 0 |
Cash Flow Hedge Ineffectiveness Is Immaterial | Cash flow hedge ineffectiveness was not significant for the periods presented. | |
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | Pretax [Member] | ||
Derivative [Line Items] | ||
Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months | $ 159 | |
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 | 103 | |
Fair Value Hedging [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Gain Loss From Components Excluded From Assessment Of Fair Value Hedge Effectiveness Net | 0 | 0 |
Net Investment Hedging [Member] | Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income, Effective Portion, Net | (14) | 29 |
Gain Loss From Components Excluded From Assessment Of Net Investment Hedge Effectiveness Net | 0 | 0 |
Amount Of Ineffectiveness On Net Investment Hedges | $ 0 | $ 0 |
Financial Derivatives (Total De
Financial Derivatives (Total Derivatives) (Details) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 |
Derivative [Line Items] | ||
Derivative Notional Amount | $ 419,979,000,000 | $ 410,803,000,000 |
Derivative Asset, Fair Value | 3,302,000,000 | 4,616,000,000 |
Derivative Liability, Fair Value | 2,622,000,000 | 3,839,000,000 |
Derivative Asset, Fair Value Offset Amount | (1,497,000,000) | (2,460,000,000) |
Derivative Asset, Cash Collateral | (507,000,000) | (657,000,000) |
Derivative Asset, Net Fair Value | 1,298,000,000 | 1,499,000,000 |
Derivative Liability, Fair Value Offset Amount | (1,497,000,000) | (2,460,000,000) |
Derivative Liability, Cash Collateral | (508,000,000) | (484,000,000) |
Derivative Liability, Net Fair Value | 617,000,000 | 895,000,000 |
Assets [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 3,302,000,000 | 4,616,000,000 |
Derivative Asset, Fair Value Offset Amount | (1,497,000,000) | (2,460,000,000) |
Derivative Asset, Cash Collateral | (507,000,000) | (657,000,000) |
Derivative Asset, Net Fair Value | 1,298,000,000 | 1,499,000,000 |
Fair Value Reduction | 800,000,000 | |
Liability [Member] | ||
Derivative [Line Items] | ||
Derivative Liability, Fair Value | 2,622,000,000 | 3,839,000,000 |
Derivative Liability, Fair Value Offset Amount | (1,497,000,000) | (2,460,000,000) |
Derivative Liability, Cash Collateral | (508,000,000) | (484,000,000) |
Derivative Liability, Net Fair Value | 617,000,000 | 895,000,000 |
Fair Value Reduction | 700,000,000 | |
Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 50,919,000,000 | 55,786,000,000 |
Derivative Asset, Fair Value | 336,000,000 | 889,000,000 |
Derivative Liability, Fair Value | 72,000,000 | 285,000,000 |
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 31,380,000,000 | 34,010,000,000 |
Derivative Asset, Fair Value | 216,000,000 | 551,000,000 |
Derivative Liability, Fair Value | 71,000,000 | 214,000,000 |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 18,577,000,000 | 20,831,000,000 |
Derivative Asset, Fair Value | 109,000,000 | 313,000,000 |
Derivative Liability, Fair Value | 1,000,000 | 71,000,000 |
Designated as Hedging Instrument [Member] | Net Investment Hedging [Member] | Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 962,000,000 | 945,000,000 |
Derivative Asset, Fair Value | 11,000,000 | 25,000,000 |
Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 369,060,000,000 | 355,017,000,000 |
Derivative Asset, Fair Value | 2,966,000,000 | 3,727,000,000 |
Derivative Liability, Fair Value | 2,550,000,000 | 3,554,000,000 |
Not Designated as Hedging Instrument [Member] | Mortgage Banking [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 139,824,000,000 | 130,559,000,000 |
Derivative Asset, Fair Value | 412,000,000 | 907,000,000 |
Derivative Liability, Fair Value | 172,000,000 | 565,000,000 |
Not Designated as Hedging Instrument [Member] | Mortgage Banking [Member] | Swap [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 49,790,000,000 | 49,071,000,000 |
Derivative Asset, Fair Value | 344,000,000 | 783,000,000 |
Derivative Liability, Fair Value | 145,000,000 | 505,000,000 |
Not Designated as Hedging Instrument [Member] | Mortgage Banking [Member] | Future [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 33,779,000,000 | 36,264,000,000 |
Not Designated as Hedging Instrument [Member] | Mortgage Banking [Member] | Mortgage Commitment [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 9,074,000,000 | 13,317,000,000 |
Derivative Asset, Fair Value | 41,000,000 | 96,000,000 |
Derivative Liability, Fair Value | 19,000,000 | 56,000,000 |
Not Designated as Hedging Instrument [Member] | Mortgage Banking [Member] | Other Contract [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 47,181,000,000 | 31,907,000,000 |
Derivative Asset, Fair Value | 27,000,000 | 28,000,000 |
Derivative Liability, Fair Value | 8,000,000 | 4,000,000 |
Not Designated as Hedging Instrument [Member] | Customer Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 223,062,000,000 | 218,877,000,000 |
Derivative Asset, Fair Value | 2,536,000,000 | 2,780,000,000 |
Derivative Liability, Fair Value | 2,117,000,000 | 2,584,000,000 |
Not Designated as Hedging Instrument [Member] | Customer Contracts [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 202,182,000,000 | 196,988,000,000 |
Derivative Asset, Fair Value | 2,333,000,000 | 2,438,000,000 |
Derivative Liability, Fair Value | 1,926,000,000 | 2,275,000,000 |
Not Designated as Hedging Instrument [Member] | Customer Contracts [Member] | Foreign Exchange And Other Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 20,880,000,000 | 21,889,000,000 |
Derivative Asset, Fair Value | 203,000,000 | 342,000,000 |
Derivative Liability, Fair Value | 191,000,000 | 309,000,000 |
Not Designated as Hedging Instrument [Member] | Customer Contracts [Member] | Swap [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 177,719,000,000 | 173,777,000,000 |
Derivative Asset, Fair Value | 2,252,000,000 | 2,373,000,000 |
Derivative Liability, Fair Value | 1,869,000,000 | 2,214,000,000 |
Not Designated as Hedging Instrument [Member] | Customer Contracts [Member] | Future [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 3,763,000,000 | 4,053,000,000 |
Not Designated as Hedging Instrument [Member] | Customer Contracts [Member] | Mortgage Commitment [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 2,687,000,000 | 2,955,000,000 |
Derivative Asset, Fair Value | 7,000,000 | 10,000,000 |
Derivative Liability, Fair Value | 7,000,000 | 8,000,000 |
Not Designated as Hedging Instrument [Member] | Customer Contracts [Member] | Other Contract [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 18,013,000,000 | 16,203,000,000 |
Derivative Asset, Fair Value | 74,000,000 | 55,000,000 |
Derivative Liability, Fair Value | 50,000,000 | 53,000,000 |
Not Designated as Hedging Instrument [Member] | Other Risk Management Activity [Member] | Foreign Exchange And Other Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 6,174,000,000 | 5,581,000,000 |
Derivative Asset, Fair Value | 18,000,000 | 40,000,000 |
Derivative Liability, Fair Value | $ 261,000,000 | $ 405,000,000 |
Financial Derivatives (Gains (L
Financial Derivatives (Gains (Losses) on Derivatives and Related Hedged Items - Fair Value Hedges) (Details) - Fair Value Hedging [Member] - Designated as Hedging Instrument [Member] - Interest Rate Contracts [Member] - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) on Derivatives Recognized in Income | $ (73) | $ 253 |
Gain (Loss) on Related Hedged Items Recognized in Income | 65 | (274) |
Us Treasury And Government And Other Debt Securities [Member] | Investment Securities Interest Income [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) on Derivatives Recognized in Income | 22 | (154) |
Gain (Loss) on Related Hedged Items Recognized in Income | (21) | 158 |
Subordinated debt and Bank notes and senior debt [Member] | Borrowed Funds Interest Expense [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) on Derivatives Recognized in Income | (95) | 407 |
Gain (Loss) on Related Hedged Items Recognized in Income | $ 86 | $ (432) |
Financial Derivatives (Gains 68
Financial Derivatives (Gains (Losses) on Derivatives and Related Cash Flows - Cash Flow Hedges) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net unrealized gains (losses) on cash flow hedge derivatives | $ (77) | $ 200 |
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | Designated as Hedging Instruments under GAAP [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) on Derivatives Recognized in OCI (Effective Portion) | (22) | 265 |
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | 55 | 65 |
Net unrealized gains (losses) on cash flow hedge derivatives | (77) | 200 |
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | Interest Income [Member] | Designated as Hedging Instruments under GAAP [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | 52 | $ 65 |
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | Noninterest Income [Member] | Designated as Hedging Instruments under GAAP [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | $ 3 |
Financial Derivatives (Gains 69
Financial Derivatives (Gains (Losses) on Derivatives Not Designated As Hedging Instruments under GAAP) (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Derivative [Line Items] | ||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | $ 9 | $ 167 |
Customer Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 66 | 25 |
Customer Contracts [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 34 | (4) |
Customer Contracts [Member] | Foreign Exchange And Other Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 32 | 29 |
Other Risk Management Activity [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | (50) | (99) |
Other Risk Management Activity [Member] | Foreign Exchange And Other Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | (50) | (99) |
Mortgage Banking [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | $ (7) | $ 241 |
Financial Derivatives (Derivati
Financial Derivatives (Derivative Assets and Liabilitites Offsetting) (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Offsetting Assets [Line Items] | ||
Derivative Asset, Gross Fair Value | $ 3,302 | $ 4,616 |
Derivative Asset, Fair Value Offset Amount | 1,497 | 2,460 |
Derivative Asset, Cash Collateral | 507 | 657 |
Derivative Asset, Net Fair Value | 1,298 | 1,499 |
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 2,622 | 3,839 |
Derivative Liability, Fair Value Offset Amount | 1,497 | 2,460 |
Derivative Liability, Cash Collateral | 508 | 484 |
Derivative Liability, Net Fair Value | 617 | 895 |
Liability [Member] | ||
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 2,622 | 3,839 |
Derivative Liability, Fair Value Offset Amount | 1,497 | 2,460 |
Derivative Liability, Cash Collateral | 508 | 484 |
Derivative Liability, Net Fair Value | 617 | 895 |
Derivative Liability, Net | 617 | 895 |
Assets [Member] | ||
Offsetting Assets [Line Items] | ||
Derivative Asset, Gross Fair Value | 3,302 | 4,616 |
Derivative Asset, Fair Value Offset Amount | 1,497 | 2,460 |
Derivative Asset, Cash Collateral | 507 | 657 |
Derivative Asset, Net Fair Value | 1,298 | 1,499 |
Derivative Asset, Securities Collateral Held Under Master Netting Agreements | 54 | 62 |
Derivative Asset, Net | 1,244 | 1,437 |
Interest Rate Contracts [Member] | Liability [Member] | Exchange Cleared, Liability [Member] | ||
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 176 | 1,060 |
Derivative Liability, Fair Value Offset Amount | 157 | 940 |
Derivative Liability, Cash Collateral | 25 | |
Derivative Liability, Net Fair Value | 19 | 95 |
Derivative Liability, Net | 19 | 95 |
Interest Rate Contracts [Member] | Liability [Member] | Exchange Traded, Liability [Member] | ||
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 2 | 1 |
Derivative Liability, Net Fair Value | 2 | 1 |
Derivative Liability, Net | 2 | 1 |
Interest Rate Contracts [Member] | Liability [Member] | Over The Counter, Liability [Member] | ||
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 1,992 | 2,064 |
Derivative Liability, Fair Value Offset Amount | 1,238 | 1,395 |
Derivative Liability, Cash Collateral | 490 | 431 |
Derivative Liability, Net Fair Value | 264 | 238 |
Derivative Liability, Net | 264 | 238 |
Interest Rate Contracts [Member] | Assets [Member] | Exchange Cleared [Member] | ||
Offsetting Assets [Line Items] | ||
Derivative Asset, Gross Fair Value | 556 | 1,498 |
Derivative Asset, Fair Value Offset Amount | 157 | 940 |
Derivative Asset, Cash Collateral | 366 | 480 |
Derivative Asset, Net Fair Value | 33 | 78 |
Derivative Asset, Net | 33 | 78 |
Interest Rate Contracts [Member] | Assets [Member] | Exchange Traded [Member] | ||
Offsetting Assets [Line Items] | ||
Derivative Asset, Gross Fair Value | 10 | 9 |
Derivative Asset, Net Fair Value | 10 | 9 |
Derivative Asset, Net | 10 | 9 |
Interest Rate Contracts [Member] | Assets [Member] | Over The Counter [Member] | ||
Offsetting Assets [Line Items] | ||
Derivative Asset, Gross Fair Value | 2,504 | 2,702 |
Derivative Asset, Fair Value Offset Amount | 1,216 | 1,358 |
Derivative Asset, Cash Collateral | 137 | 164 |
Derivative Asset, Net Fair Value | 1,151 | 1,180 |
Derivative Asset, Securities Collateral Held Under Master Netting Agreements | 54 | 62 |
Derivative Asset, Net | 1,097 | 1,118 |
Foreign Exchange [Member] | Liability [Member] | ||
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 452 | 714 |
Derivative Liability, Fair Value Offset Amount | 102 | 125 |
Derivative Liability, Cash Collateral | 18 | 28 |
Derivative Liability, Net Fair Value | 332 | 561 |
Derivative Liability, Net | 332 | 561 |
Foreign Exchange [Member] | Assets [Member] | ||
Offsetting Assets [Line Items] | ||
Derivative Asset, Gross Fair Value | 232 | 407 |
Derivative Asset, Fair Value Offset Amount | 124 | 162 |
Derivative Asset, Cash Collateral | 4 | 13 |
Derivative Asset, Net Fair Value | 104 | 232 |
Derivative Asset, Net | $ 104 | $ 232 |
Earnings per Share (Details)
Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Earnings Per Share Basic and Diluted [Line Items] | ||
Net income | $ 1,074 | $ 943 |
Net income attributable to noncontrolling interests | 17 | 19 |
Preferred stock dividends | 63 | 63 |
Preferred stock discount accretion and redemptions | 21 | 2 |
Net income attributable to common shares | 973 | 859 |
Dividends and undistributed earnings allocated to participating securities | 6 | 6 |
Net income attributable to basic common shares | 967 | 853 |
Less: Impact of BlackRock earnings per share dilution | 4 | 3 |
Net income attributable to diluted common shares | $ 963 | $ 850 |
Basic weighted-average common shares outstanding | 487 | 501 |
Basic earnings per common share | $ 1.99 | $ 1.7 |
Dilutive potential common shares | 5 | 6 |
Diluted weighted-average common shares outstanding | 492 | 507 |
Diluted earnings per common share | $ 1.96 | $ 1.68 |
Total Equity and Other Compre72
Total Equity and Other Comprehensive Income (Tarp Narrative) (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Dec. 31, 2016 | |
Redemption Of Noncontrolling Interests | $ (1,000) | |
TARP Warrant [Member] | ||
Number of warrants or rights outstanding | 5.6 | 11.3 |
Exercise price per share of warrants or rights outstanding | $ 67.33 | $ 67.33 |
PNC Capital Trust C [Member] | ||
Principal Amount Of Junior Subordinated Debt | $ 200 | |
Junior Subordinated Debentures Issuance Date | Jun. 1, 1998 | |
PNC Preferred Funding Trust I [Member] | ||
Fixed to Floating Rate Of Non Cumulative Exchangeable Trust securities | 2.61% | |
PNC Preferred Funding Trust II [Member] | ||
Fixed to Floating Rate Of Non Cumulative Exchangeable Trust securities | 2.19% | |
PNC Preferred Funding Trust I and Trust II | ||
Redemption Of Noncontrolling Interests | $ 1,000 |
Total Equity and Other Compre73
Total Equity and Other Comprehensive Income (Rollforward of Total Equity) (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Common Stock [Abstract] | ||
Common stock activity, shares | ||
Treasury stock activity, shares | (5) | |
Common Stock, Beginning Balance | $ 2,709 | |
Retained Earnings, Beginning Balance | 31,670 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | (265) | $ 130 |
Treasury Stock, Beginning Balance | 5,066 | |
Noncontrolling interests, Beginning Balance | 1,155 | |
Total Equity, Beginning Balance | 46,854 | 45,980 |
Net income | 1,074 | 943 |
Other comprehensive income (loss), net of tax | (14) | 402 |
Cash dividends declared [Abstract] | ||
Common | (271) | (260) |
Preferred | (63) | (64) |
Redemption of noncontrolling interests | (1,000) | |
Common stock activity | 2 | |
Treasury stock activity | (473) | (434) |
Other | (204) | (241) |
Common Stock, Ending Balance | 2,709 | |
Retained Earnings, Ending Balance | 32,372 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | (279) | 532 |
Treasury Stock, Ending Balance | 5,323 | |
Noncontrolling interests, Ending Balance | 149 | |
Total Equity, Ending Balance | $ 45,903 | $ 46,328 |
Preferred Stock, Par or Stated Value Per Share | ||
Common Stock [Member] | ||
Common Stock [Abstract] | ||
Beginning Balance (in shares) | 485 | 504 |
Ending Balance, (in shares) | 485 | 499 |
Common Stock, Beginning Balance | $ 2,709 | $ 2,708 |
Cash dividends declared [Abstract] | ||
Common Stock, Ending Balance | 2,709 | 2,708 |
Preferred Stock Including Additional Paid in Capital [Member] | ||
Common Stock [Abstract] | ||
Capital surplus - Preferred Stock, Beginning Balance | 3,977 | 3,452 |
Cash dividends declared [Abstract] | ||
Preferred stock discount accretion | 2 | 1 |
Capital surplus - Preferred Stock, Ending Balance | 3,979 | 3,453 |
Common Stock Including Additional Paid in Capital [Member] | ||
Common Stock [Abstract] | ||
Capital surplus - Common Stock, Beginning Balance | 12,674 | 12,745 |
Cash dividends declared [Abstract] | ||
Common stock activity | 2 | |
Treasury stock activity | (216) | (11) |
Other | (162) | (150) |
Capital surplus - Common Stock, Ending Balance | 12,296 | 12,586 |
Retained Earnings [Member] | ||
Common Stock [Abstract] | ||
Retained Earnings, Beginning Balance | 31,670 | 29,043 |
Net income | 1,057 | 924 |
Cash dividends declared [Abstract] | ||
Common | (271) | (260) |
Preferred | (63) | (64) |
Preferred stock discount accretion | (2) | (1) |
Redemption of noncontrolling interests | (19) | |
Retained Earnings, Ending Balance | 32,372 | 29,642 |
Accumulated Other Comprehensive Income (Loss) [Member] | ||
Common Stock [Abstract] | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | (265) | 130 |
Other comprehensive income (loss), net of tax | (14) | 402 |
Cash dividends declared [Abstract] | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | (279) | 532 |
Treasury Stock [Member] | ||
Common Stock [Abstract] | ||
Treasury Stock, Beginning Balance | (5,066) | (3,368) |
Cash dividends declared [Abstract] | ||
Treasury stock activity | (257) | (423) |
Treasury Stock, Ending Balance | (5,323) | (3,791) |
Noncontrolling Interest [Member] | ||
Common Stock [Abstract] | ||
Noncontrolling interests, Beginning Balance | 1,155 | 1,270 |
Net income | 17 | 19 |
Cash dividends declared [Abstract] | ||
Redemption of noncontrolling interests | (981) | |
Other | (42) | (91) |
Noncontrolling interests, Ending Balance | $ 149 | $ 1,198 |
Total Equity and Other Compre74
Total Equity and Other Comprehensive Income (Other Comprehensive Income) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Net Unrealized Gains Losses on Non Otti Securities [Abstract] | ||
Increase in net unrealized gains(losses) on non-OTTI securities | $ 67 | $ 519 |
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities in interest income, before tax | 5 | 6 |
Less: Net gains (losses) realized on sales of non-OTTI securities reclassified to noninterest income, before tax | (7) | 9 |
Net unrealized gains (losses) on non-OTTI securities, Before Tax | 69 | 504 |
Other Comprehensive Income (Loss), Non Otti Securities Adjustment, Tax | (25) | (185) |
Net unrealized gains (losses) on non-OTTI securities, Activity, After Tax | 44 | 319 |
Net Unrealized Gains Losses On Otti Securities [Abstract] | ||
Increase in net unrealized gains (losses) on OTTI securities, Pretax | 37 | (39) |
Less: Net OTTI losses realized in net income, Pre-tax | (1) | |
Less: Net gains (losses) realized on sales of OTTI securities reclassified to noninterest income, before tax | 2 | |
Net unrealized gains (losses) on OTTI securities | 35 | (38) |
Net unrealized gains (losses) on OTTI securities, tax | (13) | 14 |
Net unrealized gains (losses) on OTTI securities, Activity, After Tax | 22 | (24) |
Net unrealized gains (losses) on cash flow hedge derivatives [Abstract] | ||
Increase in net unrealized gains (losses) on cash flow hedge derivatives, Pretax | (22) | 265 |
Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income, Before Tax | 46 | 60 |
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income, Before Tax | 6 | 5 |
Less: Net gains (losses) realized on sales of securities reclassified to noninterest income, Before Tax | 3 | |
Net unrealized gains (losses) on cash flow hedge derivatives, Before Tax | (77) | 200 |
Net unrealized gains (losses) on cash flow hedge derivatives, tax | 28 | (73) |
Net unrealized gains (losses) on cash flow hedge derivatives, Net of tax, Total | (49) | 127 |
Pension and other postretirement benefit plan adjustments [Abstract] | ||
Net pension and other postretirement benefit plan activity, Before tax | (74) | 2 |
Amortization of actuarial loss (gain) reclassified to other noninterest expense, Before tax | 13 | 12 |
Amortization of prior service cost (credit) reclassified to other noninterest expense, Before tax | (1) | (2) |
Pension and other postretirement benefit plan adjustments, net activity, Pre-Tax | (62) | 12 |
Pension and other postretirement benefit plan adjustments, net activity, Tax | 23 | (4) |
Pension and other postretirement benefit plan adjustments, net activity, After Tax | (39) | 8 |
Other Comprehensive Income Other Adjustments [Abstract] | ||
PNC's portion of BlackRock's OCI, Before tax | 2 | (25) |
Net investment hedge derivatives, Before tax | (14) | 29 |
Foreign Currency Transaction and Translation Adjustment, before Tax | 16 | (29) |
I/O Strip OCI Impact, BeforeTax | (2) | |
Total Other, net activity, Before tax | 4 | (27) |
Total Other, net activity, Tax | 4 | (1) |
Total Other, net activity, After tax | 8 | (28) |
Other Comprehensive Income Loss Before Tax | (31) | 651 |
Other Comprehensive Income (Loss), Tax | 17 | (249) |
Other Comprehensive Income (Loss), Net of Tax | $ (14) | $ 402 |
Total Equity and Other Compre75
Total Equity and Other Comprehensive Income (Accumulated Other Comprehensive Income (Loss) Components) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Net Unrealized Gains Losses on Non Otti Securities [Abstract] | ||
Net unrealized gains (losses) on non-OTTI securities, after-tax, Beginning Balance | $ 52 | $ 286 |
Other Comprehensive Income (Loss), Non Otti Securities Adjustment, After Tax | 44 | 319 |
Net unrealized gains (losses) on non-OTTI securities, after-tax, Ending Balance | 96 | 605 |
Net Unrealized Gains Losses On Otti Securities [Abstract] | ||
Net unrealized gains (losses) on OTTI securities, after tax, Beginning Balance | 106 | 66 |
Other Comprehensive Income Loss Otti Securities Adjustment After Tax | 22 | (24) |
Net unrealized gains (losses) on OTTI securities, after tax, Ending Balance | 128 | 42 |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax [Abstract] | ||
Net unrealized gains (losses) on cash flow hedge derivatives, after-tax, Beginning balance | 333 | 430 |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | (49) | 127 |
Net unrealized gains (losses) on cash flow hedge derivatives, after-tax, Ending balance | 284 | 557 |
Pension and other postretirement benefit plan adjustments [Abstract] | ||
Pension and other postretirement benefit plan adjustments, after tax, Beginning Balance | (553) | (554) |
Pension and other postretirement benefit plan adjustments, net activity, After Tax | (39) | 8 |
Pension and other postretirement benefit plan adjustments, after tax, Ending Balance | (592) | (546) |
Other Comprehensive Income Other Adjustments [Abstract] | ||
Other, after tax, Beginning balance | (203) | (98) |
Total Other, net activity, After tax | 8 | (28) |
Other, after tax, Ending balance | (195) | (126) |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | (265) | 130 |
Other comprehensive income (loss), after tax and net of reclassifications into Net income | (14) | 402 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | $ (279) | $ 532 |
Legal Proceedings (Narrative) (
Legal Proceedings (Narrative) (Details) $ in Millions | Mar. 31, 2017USD ($) |
Legal Reserve [Member] | Maximum [Member] | |
Loss Contingencies [Line Items] | |
Loss contingency, range of possible loss not accrued | $ 425 |
CBNV Mortgage [Member] | |
Loss Contingencies [Line Items] | |
Settlement Defense Proposed | 24 |
Settlement Plaintiffs Proposed | 70 |
Settlement Plaintiffs Awarded | $ 24 |
Commitments (Narrative) (Detail
Commitments (Narrative) (Details) - Standby letters of credit [Member] - USD ($) $ in Billions | 3 Months Ended | |
Mar. 31, 2017 | Dec. 31, 2016 | |
Loss Contingencies [Line Items] | ||
Internal credit ratings (as a percentage of portfolio) - Pass | 91.00% | 94.00% |
Internal credit ratings (as a percentage of portfolio) - Below pass | 9.00% | 6.00% |
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 | $ 1.2 | |
Standby letters of credit and participations in standby letters of credit - Liability carrying amount | $ 0.2 |
Commitments (Other Commitments)
Commitments (Other Commitments) (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Other Commitments [Line Items] | ||
Commitments | $ 163,450 | $ 163,897 |
Commitments to extend credit [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 151,265 | 151,981 |
Commitments to extend credit [Member] | Total commercial lending [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 106,308 | 108,256 |
Commitments to extend credit [Member] | Home Equity Lines of Credit [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 17,719 | 17,438 |
Commitments to extend credit [Member] | Credit Card [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 22,807 | 22,095 |
Commitments to extend credit [Member] | Other [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 4,431 | 4,192 |
Standby letters of credit [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 8,558 | 8,324 |
Standby letters of credit [Member] | Remarketing Programs [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 3,900 | 3,900 |
Reinsurance Agreements [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 1,766 | 1,835 |
Reinsurance Agreements [Member] | Accidental Death and Dismemberment [Member] | ||
Other Commitments [Line Items] | ||
Maximum Exposure | 1,500 | 1,500 |
Reinsurance Agreements [Member] | Credit Life Accident and Health [Member] | ||
Other Commitments [Line Items] | ||
Maximum Exposure | 300 | 300 |
Standby bond purchase agreements [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 788 | 790 |
Other commitments [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 1,073 | 967 |
Other commitments [Member] | Investments in qualified affordable housing projects [Member] | ||
Other Commitments [Line Items] | ||
Commitments | $ 500 | $ 500 |
Segment Reporting (Narrative) (
Segment Reporting (Narrative) (Details) $ in Millions | 3 Months Ended | |
Mar. 31, 2017USD ($) | Mar. 31, 2016USD ($) | |
Segment Reporting Information [Line Items] | ||
Segment reporting, number of segments | 4 | |
BlackRock [Member] | ||
Segment Reporting Information [Line Items] | ||
PNC's economic interest in BlackRock | 22.00% | |
Proceeds from dividends received | $ 89 | $ 83 |
Segment Reporting (Table) (Deta
Segment Reporting (Table) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Segment Reporting Information [Line Items] | ||
Net interest income | $ 2,160 | $ 2,098 |
Noninterest income | 1,724 | 1,567 |
Total revenue | 3,884 | 3,665 |
Provision for credit losses (benefit) | 88 | 152 |
Depreciation and amortization | 214 | 202 |
Other noninterest expense | 2,188 | 2,079 |
Income (loss) before income taxes and noncontrolling interests | 1,394 | 1,232 |
Income taxes (benefit) | 320 | 289 |
Net income (loss) | 1,074 | 943 |
Average Assets | 366,416 | 355,913 |
Retail Banking [Member] | ||
Segment Reporting Information [Line Items] | ||
Net interest income | 1,120 | 1,121 |
Noninterest income | 603 | 633 |
Total revenue | 1,723 | 1,754 |
Provision for credit losses (benefit) | 71 | 72 |
Depreciation and amortization | 42 | 44 |
Other noninterest expense | 1,273 | 1,255 |
Income (loss) before income taxes and noncontrolling interests | 337 | 383 |
Income taxes (benefit) | 124 | 140 |
Net income (loss) | 213 | 243 |
Inter-segment revenue | ||
Average Assets | 87,109 | 86,213 |
Corporate & Institutional Banking [Member] | ||
Segment Reporting Information [Line Items] | ||
Net interest income | 802 | 785 |
Noninterest income | 524 | 441 |
Total revenue | 1,326 | 1,226 |
Provision for credit losses (benefit) | 25 | 102 |
Depreciation and amortization | 36 | 36 |
Other noninterest expense | 548 | 497 |
Income (loss) before income taxes and noncontrolling interests | 717 | 591 |
Income taxes (benefit) | 233 | 193 |
Net income (loss) | 484 | 398 |
Inter-segment revenue | ||
Average Assets | 142,592 | 137,270 |
Asset Management Group [Member] | ||
Segment Reporting Information [Line Items] | ||
Net interest income | 71 | 77 |
Noninterest income | 218 | 203 |
Total revenue | 289 | 280 |
Provision for credit losses (benefit) | (2) | (3) |
Depreciation and amortization | 11 | 11 |
Other noninterest expense | 206 | 195 |
Income (loss) before income taxes and noncontrolling interests | 74 | 77 |
Income taxes (benefit) | 27 | 28 |
Net income (loss) | 47 | 49 |
Inter-segment revenue | ||
Average Assets | 7,476 | 7,887 |
BlackRock [Member] | ||
Segment Reporting Information [Line Items] | ||
Noninterest income | 186 | 141 |
Total revenue | 186 | 141 |
Income (loss) before income taxes and noncontrolling interests | 186 | 141 |
Income taxes (benefit) | 41 | 27 |
Net income (loss) | 145 | 114 |
Inter-segment revenue | ||
Average Assets | 6,983 | 6,775 |
Other [Member] | ||
Segment Reporting Information [Line Items] | ||
Net interest income | 167 | 115 |
Noninterest income | 193 | 149 |
Total revenue | 360 | 264 |
Provision for credit losses (benefit) | (6) | (19) |
Depreciation and amortization | 125 | 111 |
Other noninterest expense | 161 | 132 |
Income (loss) before income taxes and noncontrolling interests | 80 | 40 |
Income taxes (benefit) | (105) | (99) |
Net income (loss) | 185 | 139 |
Inter-segment revenue | ||
Average Assets | $ 122,256 | $ 117,768 |