Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2015 | Oct. 30, 2015 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | WELLS FARGO & COMPANY/MN | |
Entity Central Index Key | 72,971 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2015 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 | |
Current Fiscal Year End Date | --12-31 | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 5,107,812,848 |
Consolidated Statement of Incom
Consolidated Statement of Income (Unaudited) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Interest income | ||||
Trading assets | $ 485 | $ 427 | $ 1,413 | $ 1,208 |
Investment securities | 2,289 | 2,066 | 6,614 | 6,288 |
Mortgages held for sale | 223 | 215 | 609 | 580 |
Loans held for sale | 4 | 50 | 14 | 53 |
Loans | 9,216 | 8,963 | 27,252 | 26,561 |
Other interest income | 228 | 243 | 732 | 679 |
Total interest income | 12,445 | 11,964 | 36,634 | 35,369 |
Interest expense | ||||
Deposits | 232 | 273 | 722 | 827 |
Short-term borrowings | 12 | 15 | 51 | 41 |
Long-term debt | 655 | 629 | 1,879 | 1,868 |
Other interest expense | 89 | 106 | 269 | 286 |
Total interest expense | 988 | 1,023 | 2,921 | 3,022 |
Net interest income | 11,457 | 10,941 | 33,713 | 32,347 |
Provision for credit losses | 703 | 368 | 1,611 | 910 |
Net interest income after provision for credit losses | 10,754 | 10,573 | 32,102 | 31,437 |
Noninterest income | ||||
Service charges on deposit accounts | 1,335 | 1,311 | 3,839 | 3,809 |
Trust and investment fees | 3,570 | 3,554 | 10,957 | 10,575 |
Card fees | 953 | 875 | 2,754 | 2,506 |
Other fees | 1,099 | 1,090 | 3,284 | 3,225 |
Mortgage banking | 1,589 | 1,633 | 4,841 | 4,866 |
Insurance | 376 | 388 | 1,267 | 1,273 |
Net gains (losses) from trading activities | (26) | 168 | 515 | 982 |
Net gains on debt securities | 147 | 253 | 606 | 407 |
Net gains from equity investments | 920 | 712 | 1,807 | 2,008 |
Lease income | 189 | 137 | 476 | 399 |
Other | 266 | 151 | 412 | 507 |
Total noninterest income | 10,418 | 10,272 | 30,758 | 30,557 |
Noninterest expense | ||||
Salaries | 4,035 | 3,914 | 11,822 | 11,437 |
Commission and incentive compensation | 2,604 | 2,527 | 7,895 | 7,388 |
Employee benefits | 821 | 931 | 3,404 | 3,473 |
Equipment | 459 | 457 | 1,423 | 1,392 |
Net occupancy | 728 | 731 | 2,161 | 2,195 |
Core deposit and other intangibles | 311 | 342 | 935 | 1,032 |
FDIC and other deposit assessments | 245 | 229 | 715 | 697 |
Other | 3,196 | 3,117 | 9,020 | 8,776 |
Total noninterest expense | 12,399 | 12,248 | 37,375 | 36,390 |
Income before income tax expense | 8,773 | 8,597 | 25,485 | 25,604 |
Income tax expense | 2,790 | 2,642 | 7,832 | 7,788 |
Net income before noncontrolling interests | 5,983 | 5,955 | 17,653 | 17,816 |
Less: Net income from noncontrolling interests | 187 | 226 | 334 | 468 |
Wells Fargo net income | 5,796 | 5,729 | 17,319 | 17,348 |
Less: Preferred stock dividends and other | 353 | 321 | 1,052 | 909 |
Wells Fargo net income applicable to common stock | $ 5,443 | $ 5,408 | $ 16,267 | $ 16,439 |
Per share information | ||||
Earnings per common share (in dollars per share) | $ 1.06 | $ 1.04 | $ 3.16 | $ 3.13 |
Diluted earnings per common share (in dollars per share) | 1.05 | 1.02 | 3.12 | 3.08 |
Dividends declared per common share (in dollars per share) | $ 0.375 | $ 0.35 | $ 1.1 | $ 1 |
Average common shares outstanding (in shares) | 5,125.8 | 5,225.9 | 5,145.9 | 5,252.2 |
Diluted average common shares outstanding (in shares) | 5,193.8 | 5,310.4 | 5,220.3 | 5,339.2 |
Consolidated Statement of Inco3
Consolidated Statement of Income (Unaudited) (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Noninterest income | ||||
Total recorded as part of gross realized losses | $ 74 | $ 15 | $ 125 | $ 37 |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Available-for-sale Equity Securities and Nonmarketable Equity Securities | 67 | 40 | 185 | 237 |
Total debt securities [Member] | ||||
Noninterest income | ||||
Total OTTI losses (reversal of losses) recorded on debt securities | 70 | 10 | 73 | (1) |
Total recorded as part of gross realized losses | 73 | 15 | 123 | 35 |
Total reversal of losses recognized in OCI as non-credit-related impairment | $ (3) | $ (5) | $ (50) | $ (36) |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
Wells Fargo net income | $ 5,796 | $ 5,729 | $ 17,319 | $ 17,348 |
Investment securities: | ||||
Net unrealized gains (losses) arising during the period | (441) | (944) | (2,017) | 3,866 |
Reclassification of net gains to net income | (439) | (661) | (957) | (1,205) |
Derivatives and hedging activities: | ||||
Net unrealized gains (losses) arising during the period | 1,769 | (34) | 2,233 | 222 |
Reclassification of net gains on cash flow hedges to net income | (293) | (127) | (795) | (348) |
Defined benefit plans adjustments: | ||||
Net actuarial losses arising during the period | 0 | 0 | (11) | (12) |
Amortization of net actuarial loss, settlements and other to net income | 30 | 18 | 103 | 56 |
Foreign currency translation adjustments: | ||||
Net unrealized losses arising during the period | (59) | (32) | (104) | (32) |
Reclassification of net losses to net income | 0 | 0 | 0 | 6 |
Other comprehensive income (loss), before tax | 567 | (1,780) | (1,548) | 2,553 |
Income tax (expense) benefit related to other comprehensive income | (268) | 560 | 544 | (1,087) |
Other comprehensive income (loss), net of tax | 299 | (1,220) | (1,004) | 1,466 |
Less: Other comprehensive income (loss) from noncontrolling interests | (22) | (221) | 125 | (266) |
Wells Fargo other comprehensive income (loss), net of tax | 321 | (999) | (1,129) | 1,732 |
Wells Fargo comprehensive income | 6,117 | 4,730 | 16,190 | 19,080 |
Comprehensive income from noncontrolling interests | 165 | 5 | 459 | 202 |
Total comprehensive income | $ 6,282 | $ 4,735 | $ 16,649 | $ 19,282 |
Consolidated Balance Sheet
Consolidated Balance Sheet - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | ||
Assets | ||||
Cash and due from banks | $ 17,395 | $ 19,571 | ||
Federal funds sold, securities purchased under resale agreements and other short-term investments | 254,811 | 258,429 | ||
Trading assets | 73,894 | 78,255 | ||
Investment securities: | ||||
Available-for-sale, at fair value | 266,406 | 257,442 | ||
Held-to-maturity, at cost (fair value $80,119 and $56,359) | 78,668 | 55,483 | ||
Mortgages held for sale (includes $17,627 and $15,565 carried at fair value) | 21,840 | [1] | 19,536 | |
Loans held for sale (includes $0 and $1 carried at fair value) | 430 | [1] | 722 | |
Loans (includes $5,529 and $5,788 carried at fair value) | 903,233 | [1] | 862,551 | |
Allowance for loan losses | (11,659) | (12,319) | ||
Net loans | 891,574 | 850,232 | ||
Mortgage servicing rights: | ||||
Measured at fair value | 11,778 | 12,738 | ||
Amortized | 1,277 | 1,242 | ||
Premises and equipment, net | 8,800 | 8,743 | ||
Goodwill | 25,684 | 25,705 | ||
Other assets (includes $2,745 and $2,512 carried at fair value) | 98,708 | [1] | 99,057 | |
Total assets | [2] | 1,751,265 | 1,687,155 | |
Liabilities | ||||
Noninterest-bearing deposits | 339,761 | 321,963 | ||
Interest-bearing deposits | 862,418 | 846,347 | ||
Total deposits | 1,202,179 | 1,168,310 | ||
Short-term borrowings | 88,069 | 63,518 | ||
Accrued expenses and other liabilities | 81,700 | 86,122 | ||
Long-term debt | 185,274 | 183,943 | ||
Total liabilities | [3] | 1,557,222 | 1,501,893 | |
Wells Fargo stockholders' equity: | ||||
Preferred stock | 22,424 | 19,213 | ||
Common stock – $1-2/3 par value, authorized 9,000,000,000 shares; issued 5,481,811,474 shares | 9,136 | 9,136 | ||
Additional paid-in capital | 60,998 | 60,537 | ||
Retained earnings | 117,593 | 107,040 | ||
Cumulative other comprehensive income | 2,389 | 3,518 | ||
Treasury stock – 373,337,506 shares and 311,462,276 shares | (17,899) | (13,690) | ||
Unearned ESOP shares | (1,590) | (1,360) | ||
Total Wells Fargo stockholders' equity | 193,051 | 184,394 | ||
Noncontrolling interests | 992 | 868 | ||
Total equity | 194,043 | 185,262 | ||
Total liabilities and equity | $ 1,751,265 | $ 1,687,155 | ||
[1] | Parenthetical amounts represent assets and liabilities for which we have elected the fair value option. | |||
[2] | Our consolidated assets at September 30, 2015, and December 31, 2014, include the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Cash and due from banks, $149 million and $117 million; Trading assets, $1 million and $0 million; Investment securities, $530 million and $875 million; Net loans, $5.0 billion and $4.5 billion; Other assets, $279 million and $316 million; and Total assets, $6.0 billion and $5.8 billion, respectively. | |||
[3] | Our consolidated liabilities at September 30, 2015, and December 31, 2014, include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Accrued expenses and other liabilities, $61 million and $49 million; Long-term debt, $1.4 billion and $1.6 billion; and Total liabilities, $1.4 billion and $1.7 billion, respectively. |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | ||
Assets | ||||
Cash and due from banks | $ 17,395 | $ 19,571 | ||
Trading Assets | 73,894 | 78,255 | ||
Investment securities | 346,525 | 313,801 | ||
Held-to-maturity, at fair value | 80,119 | 56,359 | ||
Mortgages held for sale, carried at fair value | 17,627 | 15,565 | ||
Loans held for sale | 0 | 1 | ||
Loans Receivable, Fair Value Disclosure | 5,529 | 5,788 | ||
Net loans | 891,574 | 850,232 | ||
Other assets | 98,708 | [1] | 99,057 | |
Other assets, carried at fair value | 2,745 | 2,512 | ||
Liabilities | ||||
Accrued expenses and other liabilities | 81,700 | 86,122 | ||
Long-term debt | 185,274 | 183,943 | ||
Total liabilities | [2] | 1,557,222 | 1,501,893 | |
Wells Fargo stockholders' equity: | ||||
Total assets | [3] | $ 1,751,265 | $ 1,687,155 | |
Common stock, par value | $ 1.6667 | $ 1.6667 | ||
Common stock, shares issued | 5,487,811,474 | 5,481,811,474 | ||
Common stock, shares authorized | 9,000,000,000 | 9,000,000,000 | ||
Treasury stock, shares | 373,337,506 | 311,462,276 | ||
VIEs that we consolidate [Member] | ||||
Assets | ||||
Cash and due from banks | $ 149 | $ 117 | ||
Trading Assets | 1 | 0 | ||
Investment securities | 530 | 875 | ||
Net loans | 5,000 | 4,500 | ||
Other assets | 279 | 316 | ||
Liabilities | ||||
Accrued expenses and other liabilities | 61 | 49 | ||
Long-term debt | 1,386 | 1,628 | ||
Total liabilities | 1,447 | 1,677 | ||
Wells Fargo stockholders' equity: | ||||
Total assets | 5,950 | 5,817 | ||
Vies That We Consolidate No Recourse [Member] | ||||
Liabilities | ||||
Accrued expenses and other liabilities | 61 | 49 | ||
Long-term debt | 1,400 | 1,600 | ||
Total liabilities | $ 1,400 | $ 1,700 | ||
[1] | Parenthetical amounts represent assets and liabilities for which we have elected the fair value option. | |||
[2] | Our consolidated liabilities at September 30, 2015, and December 31, 2014, include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Accrued expenses and other liabilities, $61 million and $49 million; Long-term debt, $1.4 billion and $1.6 billion; and Total liabilities, $1.4 billion and $1.7 billion, respectively. | |||
[3] | Our consolidated assets at September 30, 2015, and December 31, 2014, include the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Cash and due from banks, $149 million and $117 million; Trading assets, $1 million and $0 million; Investment securities, $530 million and $875 million; Net loans, $5.0 billion and $4.5 billion; Other assets, $279 million and $316 million; and Total assets, $6.0 billion and $5.8 billion, respectively. |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity (Unaudited) - USD ($) $ in Millions | Total | Total Wells Fargo stockholders' equity [Member] | Preferred stock [Member] | Common stock [Member] | Additional paid-in capital [Member] | Retained Earnings [Member] | Cumulative other comprehensive income [Member] | Treasury stock [Member] | Unearned ESOP Shares [Member] | Noncontrolling interests [Member] | Private Forward Repurchase Transaction [Member] | |
Beginning Balance at Dec. 31, 2013 | $ 171,008 | $ 170,142 | $ 16,267 | $ 9,136 | $ 60,296 | $ 92,361 | $ 1,386 | $ (8,104) | $ (1,200) | $ 866 | ||
Beginning balance, shares at Dec. 31, 2013 | 10,881,195 | 5,257,162,705 | ||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Net income | 17,348 | 17,348 | $ 17,348 | |||||||||
Net income attributable to noncontrolling interests | 468 | 468 | ||||||||||
Net income | 17,816 | |||||||||||
Other comprehensive income (loss) attributable to parent, net of tax | 1,732 | 1,732 | 1,732 | |||||||||
Other comprehensive income (loss) attributable to noncontrolling interest, net of tax | (266) | (266) | ||||||||||
Other comprehensive income (loss), net of tax | 1,466 | |||||||||||
Noncontrolling interests, adjustments to Additional Paid in Capital | (1) | (1) | ||||||||||
Noncontrolling interests | (559) | |||||||||||
Total change in noncontrolling interests | (560) | |||||||||||
Common stock issued | 1,975 | 1,975 | (198) | 2,173 | ||||||||
Common stock, shares issued | 61,467,695 | |||||||||||
Common stock repurchased | (6,469) | (6,469) | (500) | (5,969) | ||||||||
Common stock repurchased, shares | (121,567,010) | |||||||||||
Preferred stock issued to ESOP | 0 | 0 | $ 1,217 | 108 | (1,325) | |||||||
Preferred stock issued to ESOP, shares | 1,217,000 | |||||||||||
Preferred stock released by ESOP | 905 | 905 | (80) | 985 | ||||||||
Preferred stock converted to common shares | 0 | 0 | $ (905) | $ 217 | 688 | |||||||
Preferred stock converted to common shares, shares | (905,065) | 17,945,101 | ||||||||||
Common stock warrants repurchased/exercised | 0 | 0 | ||||||||||
Preferred stock issued | 2,775 | 2,775 | $ 2,800 | $ (25) | ||||||||
Preferred stock, shares issued | 112,000 | |||||||||||
Common stock dividends | (5,251) | (5,251) | 56 | $ (5,307) | ||||||||
Preferred stock dividends | (908) | (908) | (908) | |||||||||
Tax benefit from stock incentive compensation | 378 | 378 | 378 | |||||||||
Stock incentive compensation expense | 682 | 682 | 682 | |||||||||
Net change in deferred compensation and related plans | (827) | (827) | (833) | 6 | ||||||||
Net change | 11,982 | 12,339 | $ 3,112 | $ 0 | (196) | 11,133 | 1,732 | (3,102) | (340) | (357) | ||
Net change, shares | 423,935 | (42,154,214) | ||||||||||
Ending Balance at Sep. 30, 2014 | 182,990 | 182,481 | $ 19,379 | $ 9,136 | 60,100 | 103,494 | 3,118 | (11,206) | (1,540) | 509 | ||
Ending balance, shares at Sep. 30, 2014 | 11,305,130 | 5,215,008,491 | ||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Common stock repurchased, shares | (19,800,000) | |||||||||||
Ending Balance at Dec. 31, 2014 | 185,262 | 184,394 | $ 19,213 | $ 9,136 | 60,537 | 107,040 | 3,518 | (13,690) | (1,360) | 868 | ||
Ending balance, shares at Dec. 31, 2014 | 11,138,818 | 5,170,349,198 | ||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Net income | 17,319 | 17,319 | 17,319 | |||||||||
Net income attributable to noncontrolling interests | 334 | 334 | ||||||||||
Net income | 17,653 | |||||||||||
Other comprehensive income (loss) attributable to parent, net of tax | (1,129) | (1,129) | (1,129) | |||||||||
Other comprehensive income (loss) attributable to noncontrolling interest, net of tax | 125 | 125 | ||||||||||
Other comprehensive income (loss), net of tax | (1,004) | |||||||||||
Noncontrolling interests, adjustments to Additional Paid in Capital | 3 | 3 | ||||||||||
Noncontrolling interests | (335) | |||||||||||
Total change in noncontrolling interests | (332) | |||||||||||
Common stock issued | 2,334 | 2,334 | (381) | 2,715 | ||||||||
Common stock, shares issued | 63,017,857 | |||||||||||
Common stock repurchased | (6,723) | (6,723) | 750 | (7,473) | ||||||||
Common stock repurchased, shares | [1] | (136,363,436) | ||||||||||
Preferred stock issued to ESOP | 0 | 0 | $ 826 | 74 | (900) | |||||||
Preferred stock issued to ESOP, shares | 826,598 | |||||||||||
Preferred stock released by ESOP | 615 | 615 | (55) | 670 | ||||||||
Preferred stock converted to common shares | 0 | 0 | $ (615) | 81 | 534 | |||||||
Preferred stock converted to common shares, shares | (616,066) | 11,470,349 | ||||||||||
Common stock warrants repurchased/exercised | (49) | (49) | (49) | |||||||||
Preferred stock issued | 2,972 | 2,972 | $ 3,000 | (28) | ||||||||
Preferred stock, shares issued | 120,000 | |||||||||||
Common stock dividends | (5,663) | (5,663) | 48 | (5,711) | ||||||||
Preferred stock dividends | (1,055) | (1,055) | (1,055) | |||||||||
Tax benefit from stock incentive compensation | 431 | 431 | 431 | |||||||||
Stock incentive compensation expense | 640 | 640 | 640 | |||||||||
Net change in deferred compensation and related plans | (1,038) | (1,038) | (1,053) | 15 | ||||||||
Net change | 8,781 | 8,657 | $ 3,211 | $ 0 | 461 | 10,553 | (1,129) | (4,209) | (230) | 124 | ||
Net change, shares | 330,532 | (61,875,230) | ||||||||||
Ending Balance at Sep. 30, 2015 | $ 194,043 | $ 193,051 | $ 22,424 | $ 9,136 | $ 60,998 | $ 117,593 | $ 2,389 | $ (17,899) | $ (1,590) | $ 992 | ||
Ending balance, shares at Sep. 30, 2015 | 11,469,350 | 5,108,473,968 | ||||||||||
[1] | no unsettled private share repurchase contracts at September 30, 2015. For the first nine months of 2014, includes $1.0 billion related to a private forward repurchase transaction entered into in third quarter 2014 that settled in fourth quarter 2014 for 19.8 million shares of common stock. |
Consolidated Statement of Chan8
Consolidated Statement of Changes in Equity (Unaudited) (Parenthetical) - Private Forward Repurchase Transaction [Member] - USD ($) shares in Millions | 3 Months Ended | ||
Dec. 31, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Consolidated Statement of Changes in Equity (Textuals) [Abstract] | |||
Common stock repurchased, shares | 19.8 | ||
Private forward repurchase contract | $ 0 | $ 1,000,000,000 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Cash flows from operating activities: | ||
Net income before noncontrolling interests | $ 17,653 | $ 17,816 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for credit losses | 1,611 | 910 |
Changes in fair value of MSRs, MHFS and LHFS carried at fair value | 585 | 884 |
Depreciation, amortization and accretion | 2,396 | 1,933 |
Other net gains | (4,176) | (2,216) |
Stock-based compensation | 1,525 | 1,525 |
Excess tax benefits related to stock incentive compensation | (431) | (378) |
Originations of MHFS | (138,204) | (109,288) |
Proceeds from sales of and principal collected on mortgages originated for sale | 101,083 | 89,626 |
Proceeds from sales of and principal collected on LHFS | 7 | 206 |
Purchases of LHFS | (28) | (131) |
Net change in: | ||
Trading assets | 40,300 | 12,246 |
Deferred income taxes | (2,421) | 669 |
Accrued interest receivable | (643) | (548) |
Accrued interest payable | 79 | 238 |
Other assets | (562) | (7,182) |
Other accrued expenses and liabilities | 1,027 | 8,354 |
Net cash provided by operating activities | 19,801 | 14,664 |
Net change in: | ||
Federal funds sold, securities purchased under resale agreements and other short-term investments | 3,453 | (45,281) |
Available-for-sale securities: | ||
Sales proceeds | 15,959 | 2,575 |
Prepayments and maturities | 23,681 | 28,509 |
Purchases | (56,526) | (24,539) |
Held-to-maturity securities: | ||
Paydowns and maturities | 4,278 | 4,251 |
Purchases | (22,823) | (33,049) |
Nonmarketable equity investments: | ||
Sales proceeds | 2,904 | 2,291 |
Purchases | (1,083) | (2,408) |
Loans: | ||
Loans originated by banking subsidiaries, net of principal collected | (40,372) | (42,805) |
Proceeds from sales (including participations) of loans held for investment | 8,898 | 13,926 |
Purchases (including participations) of loans | (12,710) | (3,998) |
Principal collected on nonbank entities’ loans | 7,448 | 9,577 |
Loans originated by nonbank entities | (9,586) | (9,489) |
Payments to Acquire Businesses, Net of Cash Acquired | 0 | (174) |
Proceeds from sales of foreclosed assets and short sales | 5,769 | 5,995 |
Net cash from purchases and sales of MSRs | (96) | (119) |
Other, net | (1,627) | (537) |
Net cash used by investing activities | (72,433) | (95,275) |
Net change in: | ||
Deposits | 34,107 | 51,448 |
Short-term borrowings | 24,551 | 7,542 |
Long-term debt: | ||
Proceeds from issuance | 24,495 | 38,362 |
Repayment | (24,104) | (9,872) |
Preferred stock: | ||
Proceeds from issuance | 2,972 | 2,775 |
Cash dividends paid | (1,063) | (928) |
Common stock: | ||
Proceeds from issuance | 1,454 | 1,376 |
Repurchased | (6,723) | (6,469) |
Cash dividends paid | (5,529) | (5,134) |
Excess tax benefits related to stock incentive compensation | 431 | 378 |
Net change in noncontrolling interests | (191) | (846) |
Other, net | 56 | 92 |
Net cash provided by financing activities | 50,456 | 78,724 |
Net change in cash and due from banks | (2,176) | (1,887) |
Cash and due from banks at beginning of period | 19,571 | 19,919 |
Cash and due from banks at end of period | 17,395 | 18,032 |
Supplemental cash flow disclosures: | ||
Cash paid for interest | 2,842 | 2,784 |
Cash paid for income taxes | $ 9,270 | $ 6,254 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 1: Summary of Significant Accounting Policies Wells Fargo & Company is a diversified financial services company. We provide banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance through banking stores, the internet and other distribution channels to consumers, businesses and institutions in all 50 states, the District of Columbia, and in foreign countries. When we refer to “Wells Fargo,” “the Company,” “we,” “our” or “us,” we mean Wells Fargo & Company and Subsidiaries (consolidated). Wells Fargo & Company (the Parent) is a financial holding company and a bank holding company. We also hold a majority interest in a real estate investment trust, which has publicly traded preferred stock outstanding. Our accounting and reporting policies conform with U.S. generally accepted accounting principles (GAAP) and practices in the financial services industry. For discussion of our significant accounting policies, see Note 1 (Summary of Significant Accounting Policies) in our Annual Report on Form 10-K for the year ended December 31, 2014 (2014 Form 10-K). There were no material changes to these policies in first nine months of 2015 . To prepare the financial statements in conformity with GAAP, management must make estimates based on assumptions about future economic and market conditions (for example, unemployment, market liquidity, real estate prices, etc.) that affect the reported amounts of assets and liabilities at the date of the financial statements and income and expenses during the reporting period and the related disclosures. Although our estimates contemplate current conditions and how we expect them to change in the future, it is reasonably possible that actual conditions could be worse than anticipated in those estimates, which could materially affect our results of operations and financial condition. Management has made significant estimates in several areas, including allowance for credit losses and purchased credit-impaired (PCI) loans (Note 5 (Loans and Allowance for Credit Losses)), valuations of residential mortgage servicing rights (MSRs) (Note 7 (Securitizations and Variable Interest Entities) and Note 8 (Mortgage Banking Activities)) and financial instruments (Note 13 (Fair Values of Assets and Liabilities)), and income taxes. Actual results could differ from those estimates. These unaudited interim financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the periods presented. These adjustments are of a normal recurring nature, unless otherwise disclosed in this Form 10-Q. The results of operations in the interim financial statements do not necessarily indicate the results that may be expected for the full year. The interim financial information should be read in conjunction with our 2014 Form 10-K. Accounting Standards Adopted in 2015 In first quarter 2015, we adopted the following new accounting guidance: • A ccounting Standards Update (ASU or Update) 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures ; • ASU 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity ; and • ASU 2014-01, Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects . ASU 2014-11 requires repurchase-to-maturity transactions to be accounted for as secured borrowings versus sales. The guidance also requires separate accounting for transfers of financial assets that are executed contemporaneously with repurchase agreements. The Update also includes new disclosures for transfers accounted for as sales and for repurchase agreements and similar arrangements, such as classes of collateral pledged for gross obligations and the remaining contractual maturity of repurchase agreements. We adopted the accounting changes in first quarter 2015 with no impact to our consolidated financial statements or disclosures. We adopted the collateral and remaining contractual maturity disclosures for repurchase and similar agreements in second quarter 2015. For additional information, see Note 10 (Guarantees, Pledged Assets and Collateral). ASU 2014-08 changes the definition and reporting requirements for discontinued operations. Under the new guidance, an entity’s disposal of a component or group of components must be reported in discontinued operations if the disposal is a strategic shift that has or will have a significant effect on the entity’s operations and financial results. We adopted these changes in first quarter 2015 with prospective application. This Update did not have a material impact on our consolidated financial statements. ASU 2014-01 amends the accounting guidance for investments in affordable housing projects that qualify for the low-income housing tax credits. The Update requires incremental disclosures for all entities that invest in qualified affordable housing projects. Additionally companies may make an accounting election to amortize the cost of their investments in proportion to the tax benefits received if certain criteria are met and present the amortization as a component of income tax expense. We adopted the new disclosure requirements in first quarter 2015 (see Note 6 (Other Assets)) and will continue our previous accounting for these investments rather than make the alternative election to amortize the initial cost of the investments in proportion to the tax benefits received. Private Share Repurchases From time to time we enter into private forward repurchase transactions with unrelated third parties to complement our open-market common stock repurchase strategies, to allow us to manage our share repurchases in a manner consistent with our capital plans, currently submitted under the 2015 Comprehensive Capital Analysis and Review (CCAR), and to provide an economic benefit to the Company. Our payments to the counterparties for these contracts are recorded in permanent equity in the quarter paid and are not subject to re-measurement. The classification of the up-front payments as permanent equity assures that we have appropriate repurchase timing consistent with our 2015 Capital Plan, which contemplated a fixed dollar amount available per quarter for share repurchases pursuant to Federal Reserve Board (FRB) supervisory guidance. In return, the counterparty agrees to deliver a variable number of shares based on a per share discount to the volume-weighted average stock price over the contract period. There are no scenarios where the contracts would not either physically settle in shares or allow us to choose the settlement method. Our total number of outstanding shares of common stock is not reduced until settlement of the private share repurchase contract. We had no unsettled private share repurchase contracts at September 30, 2015 . At September 30, 2014 , we had a $1.0 billion private repurchase contract outstanding that settled in fourth quarter 2014 for 19.8 million shares of common stock. SUPPLEMENTAL CASH FLOW INFORMATION Significant noncash activities are presented below. Nine months ended September 30, (in millions) 2015 2014 Trading assets retained from securitization of MHFS $ 34,994 18,717 Transfers from loans to MHFS 7,219 9,035 Transfers from loans to LHFS 90 9,842 Transfers from loans to foreclosed and other assets 2,471 3,228 Transfers from available-for-sale to held-to-maturity securities 4,972 — SUBSEQUENT EVENTS We have evaluated the effects of events that have occurred subsequent to September 30, 2015 , and there have been no material events that would require recognition in our third quarter 2015 consolidated financial statements or disclosure in the Notes to the consolidated financial statements, except for a business acquisition announced on October 13, 2015, as discussed in Note 2 (Business Combinations). |
Business Combinations
Business Combinations | 9 Months Ended |
Sep. 30, 2015 | |
Business Combinations [Abstract] | |
Business Combinations | Note 2: Business Combinations We regularly explore opportunities to acquire financial services companies and businesses. Generally, we do not make a public announcement about an acquisition opportunity until a definitive agreement has been signed. For information on additional contingent consideration related to acquisitions, which is considered to be a guarantee, see Note 10 (Guarantees, Pledged Assets and Collateral). We completed no acquisitions of businesses during the nine months ended 2015 . We had two acquisitions pending as of September 30, 2015 . The first pending acquisition involves a small investment intermediary and is expected to close during fourth quarter 2015. The second pending acquisition is the purchase of GE Railcar Services from GE Capital, which involves 77,000 railcars and 1,000 locomotives as well as associated operating and long-term leases. Additionally, on October 13, 2015, we announced an agreement to purchase GE Capital’s Commercial Distribution Finance and Vendor Finance businesses, as well as certain commercial loans and leases from their Corporate Finance business. The acquisition involves total assets of approximately $32 billion . Both GE Capital transactions are expected to close in first quarter 2016. |
Federal Funds Sold, Securities
Federal Funds Sold, Securities Purchased under Resale Agreements and Other Short-Term Investments | 9 Months Ended |
Sep. 30, 2015 | |
Federal Funds Sold, Securities Purchased under Resale Agreements and Other Short-Term Investments [Abstract] | |
Federal Funds Sold, Securities Purchased under Resale Agreements and Other Short-Term Investments | Note 3: Federal Funds Sold, Securities Purchased under Resale Agreements and Other Short-Term Investments The following table provides the detail of federal funds sold, securities purchased under short-term resale agreements (generally less than one year) and other short-term investments. The majority of interest-earning deposits at September 30, 2015 and December 31, 2014 , were held at the Federal Reserve. (in millions) Sep 30, Dec 31, Federal funds sold and securities purchased under resale agreements $ 44,894 36,856 Interest-earning deposits 207,496 219,220 Other short-term investments 2,421 2,353 Total $ 254,811 258,429 As part of maintaining our memberships in certain clearing organizations, we are required to stand ready to provide liquidity meant to sustain market clearing activity in the event unforeseen events occur or are deemed likely to occur. This includes commitments we have entered into to purchase securities under resale agreements from a central clearing organization that, at its option, require us to provide funding under such agreements. We do not have any outstanding amounts funded, and the amount of our unfunded contractual commitment was $2.5 billion and $2.6 billion as of September 30, 2015 and December 31, 2014 , respectively. We have classified securities purchased under long-term resale agreements (generally one year or more), which totaled $19.7 billion and $14.9 billion at September 30, 2015 and December 31, 2014 , respectively, in loans. For additional information on the collateral we receive from other entities under resale agreements and securities borrowings, see the “Offsetting of Resale and Repurchase Agreements and Securities Borrowing and Lending Agreements” section of Note 10 (Guarantees, Pledged Assets and Collateral). |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Note 4: Investment Securities The following table provides the amortized cost and fair value by major categories of available-for-sale securities, which are carried at fair value, and held-to-maturity debt securities, which are carried at amortized cost. The net unrealized gains (losses) for available-for-sale securities are reported on an after-tax basis as a component of cumulative OCI. (in millions) Amortized Cost Gross unrealized gains Gross unrealized losses Fair value September 30, 2015 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ 35,049 384 (10 ) 35,423 Securities of U.S. states and political subdivisions 49,497 1,013 (1,087 ) 49,423 Mortgage-backed securities: Federal agencies 102,660 2,730 (367 ) 105,023 Residential 7,335 812 (19 ) 8,128 Commercial 14,424 354 (70 ) 14,708 Total mortgage-backed securities 124,419 3,896 (456 ) 127,859 Corporate debt securities 15,350 451 (311 ) 15,490 Collateralized loan and other debt obligations (1) 29,988 248 (182 ) 30,054 Other (2) 6,126 140 (50 ) 6,216 Total debt securities 260,429 6,132 (2,096 ) 264,465 Marketable equity securities: Perpetual preferred securities 840 115 (15 ) 940 Other marketable equity securities 278 729 (6 ) 1,001 Total marketable equity securities 1,118 844 (21 ) 1,941 Total available-for-sale securities 261,547 6,976 (2,117 ) 266,406 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies 44,653 1,333 (12 ) 45,974 Securities of U.S. states and political subdivisions 2,187 28 (3 ) 2,212 Federal agency mortgage-backed securities 26,828 194 (92 ) 26,930 Collateralized loans and other debt obligations (1) 1,405 — (14 ) 1,391 Other (2) 3,595 17 — 3,612 Total held-to-maturity securities 78,668 1,572 (121 ) 80,119 Total $ 340,215 8,548 (2,238 ) 346,525 December 31, 2014 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ 25,898 44 (138 ) 25,804 Securities of U.S. states and political subdivisions 43,939 1,504 (499 ) 44,944 Mortgage-backed securities: Federal agencies 107,850 2,990 (751 ) 110,089 Residential 8,213 1,080 (24 ) 9,269 Commercial 16,248 803 (57 ) 16,994 Total mortgage-backed securities 132,311 4,873 (832 ) 136,352 Corporate debt securities 14,211 745 (170 ) 14,786 Collateralized loan and other debt obligations (1) 25,137 408 (184 ) 25,361 Other (2) 6,251 295 (27 ) 6,519 Total debt securities 247,747 7,869 (1,850 ) 253,766 Marketable equity securities: Perpetual preferred securities 1,622 148 (70 ) 1,700 Other marketable equity securities 284 1,694 (2 ) 1,976 Total marketable equity securities 1,906 1,842 (72 ) 3,676 Total available-for-sale securities 249,653 9,711 (1,922 ) 257,442 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies 40,886 670 (8 ) 41,548 Securities of U.S. states and political subdivisions 1,962 27 — 1,989 Federal agency mortgage-backed securities 5,476 165 — 5,641 Collateralized loans and other debt obligations (1) 1,404 — (13 ) 1,391 Other (2) 5,755 35 — 5,790 Total held-to-maturity securities 55,483 897 (21 ) 56,359 Total $ 305,136 10,608 (1,943 ) 313,801 (1) The available-for-sale portfolio includes collateralized debt obligations (CDOs) with a cost basis and fair value of $250 million and $316 million , respectively, at September 30, 2015 , and $364 million and $500 million , respectively, at December 31, 2014 . The held-to-maturity portfolio only includes collateralized loan obligations. (2) The “Other” category of available-for-sale securities mostly includes asset-backed securities collateralized by credit cards, student loans, home equity loans and auto leases or loans and cash. Included in the “Other” category of held-to-maturity securities are asset-backed securities collateralized by auto leases or loans and cash with both a cost basis and fair value of $2.2 billion at September 30, 2015 , and $3.8 billion at December 31, 2014 . Also included in the “Other” category of held-to-maturity securities are asset-backed securities collateralized by dealer floorplan loans with a cost basis and fair value of $1.4 billion at September 30, 2015 , and cost basis of $1.9 billion and fair value of $2.0 billion at December 31, 2014 . Gross Unrealized Losses and Fair Value The following table shows the gross unrealized losses and fair value of securities in the investment securities portfolio by length of time that individual securities in each category have been in a continuous loss position. Debt securities on which we have taken credit-related OTTI write-downs are categorized as being “less than 12 months” or “12 months or more” in a continuous loss position based on the point in time that the fair value declined to below the cost basis and not the period of time since the credit-related OTTI write-down. Less than 12 months 12 months or more Total (in millions) Gross unrealized losses Fair value Gross unrealized losses Fair value Gross unrealized losses Fair value September 30, 2015 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ (4 ) 1,332 (6 ) 2,020 (10 ) 3,352 Securities of U.S. states and political subdivisions (559 ) 19,812 (528 ) 6,242 (1,087 ) 26,054 Mortgage-backed securities: Federal agencies (173 ) 21,559 (194 ) 10,421 (367 ) 31,980 Residential (13 ) 980 (6 ) 272 (19 ) 1,252 Commercial (23 ) 4,034 (47 ) 2,030 (70 ) 6,064 Total mortgage-backed securities (209 ) 26,573 (247 ) 12,723 (456 ) 39,296 Corporate debt securities (179 ) 3,963 (132 ) 967 (311 ) 4,930 Collateralized loan and other debt obligations (116 ) 18,075 (66 ) 4,375 (182 ) 22,450 Other (27 ) 2,532 (23 ) 521 (50 ) 3,053 Total debt securities (1,094 ) 72,287 (1,002 ) 26,848 (2,096 ) 99,135 Marketable equity securities: Perpetual preferred securities (1 ) 45 (14 ) 121 (15 ) 166 Other marketable equity securities (6 ) 53 — — (6 ) 53 Total marketable equity securities (7 ) 98 (14 ) 121 (21 ) 219 Total available-for-sale securities (1,101 ) 72,385 (1,016 ) 26,969 (2,117 ) 99,354 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies (12 ) 2,434 — — (12 ) 2,434 Securities of U.S. states and political subdivisions (3 ) 454 — — (3 ) 454 Federal agency mortgage-backed securities (92 ) 16,498 — — (92 ) 16,498 Collateralized loan and other debt obligations (11 ) 1,158 (3 ) 233 (14 ) 1,391 Total held-to-maturity securities (118 ) 20,544 (3 ) 233 (121 ) 20,777 Total $ (1,219 ) 92,929 (1,019 ) 27,202 (2,238 ) 120,131 December 31, 2014 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ (16 ) 7,138 (122 ) 5,719 (138 ) 12,857 Securities of U.S. states and political subdivisions (198 ) 10,228 (301 ) 3,725 (499 ) 13,953 Mortgage-backed securities: Federal agencies (16 ) 1,706 (735 ) 37,854 (751 ) 39,560 Residential (18 ) 946 (6 ) 144 (24 ) 1,090 Commercial (9 ) 2,202 (48 ) 1,532 (57 ) 3,734 Total mortgage-backed securities (43 ) 4,854 (789 ) 39,530 (832 ) 44,384 Corporate debt securities (102 ) 1,674 (68 ) 1,265 (170 ) 2,939 Collateralized loan and other debt obligations (99 ) 12,755 (85 ) 3,958 (184 ) 16,713 Other (23 ) 708 (4 ) 277 (27 ) 985 Total debt securities (481 ) 37,357 (1,369 ) 54,474 (1,850 ) 91,831 Marketable equity securities: Perpetual preferred securities (2 ) 92 (68 ) 633 (70 ) 725 Other marketable equity securities (2 ) 41 — — (2 ) 41 Total marketable equity securities (4 ) 133 (68 ) 633 (72 ) 766 Total available-for-sale securities (485 ) 37,490 (1,437 ) 55,107 (1,922 ) 92,597 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies (8 ) 1,889 — — (8 ) 1,889 Collateralized loan and other debt obligations (13 ) 1,391 — — (13 ) 1,391 Total held-to-maturity securities (21 ) 3,280 — — (21 ) 3,280 Total $ (506 ) 40,770 (1,437 ) 55,107 (1,943 ) 95,877 We have assessed each security with gross unrealized losses included in the previous table for credit impairment. As part of that assessment we evaluated and concluded that we do not intend to sell any of the securities and that it is more likely than not that we will not be required to sell prior to recovery of the amortized cost basis. For debt securities, we evaluate, where necessary, whether credit impairment exists by comparing the present value of the expected cash flows to the securities’ amortized cost basis. For equity securities, we consider numerous factors in determining whether impairment exists, including our intent and ability to hold the securities for a period of time sufficient to recover the cost basis of the securities. For descriptions of the factors we consider when analyzing securities for impairment, see Note 1 (Summary of Significant Accounting Policies) and Note 5 (Investment Securities) to Financial Statements in our 2014 Form 10-K. There have been no material changes to our methodologies for assessing impairment in the first nine months of 2015 . The following table shows the gross unrealized losses and fair value of debt and perpetual preferred investment securities by those rated investment grade and those rated less than investment grade, according to their lowest credit rating by Standard & Poor’s Rating Services (S&P) or Moody’s Investors Service (Moody’s). Credit ratings express opinions about the credit quality of a security. Securities rated investment grade, that is those rated BBB- or higher by S&P or Baa3 or higher by Moody’s, are generally considered by the rating agencies and market participants to be low credit risk. Conversely, securities rated below investment grade, labeled as “speculative grade” by the rating agencies, are considered to be distinctively higher credit risk than investment grade securities. We have also included securities not rated by S&P or Moody’s in the table below based on our internal credit grade of the securities (used for credit risk management purposes) equivalent to the credit rating assigned by major credit agencies. The unrealized losses and fair value of unrated securities categorized as investment grade based on internal credit grades were $40 million and $2.6 billion , respectively, at September 30, 2015 , and $25 million and $1.6 billion , respectively, at December 31, 2014 . If an internal credit grade was not assigned, we categorized the security as non-investment grade. Investment grade Non-investment grade (in millions) Gross unrealized losses Fair value Gross unrealized losses Fair value September 30, 2015 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ (10 ) 3,352 — — Securities of U.S. states and political subdivisions (1,042 ) 25,619 (45 ) 435 Mortgage-backed securities: Federal agencies (367 ) 31,980 — — Residential (9 ) 722 (10 ) 530 Commercial (45 ) 5,618 (25 ) 446 Total mortgage-backed securities (421 ) 38,320 (35 ) 976 Corporate debt securities (83 ) 2,952 (228 ) 1,978 Collateralized loan and other debt obligations (181 ) 22,393 (1 ) 57 Other (46 ) 2,761 (4 ) 292 Total debt securities (1,783 ) 95,397 (313 ) 3,738 Perpetual preferred securities (15 ) 166 — — Total available-for-sale securities (1,798 ) 95,563 (313 ) 3,738 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies (12 ) 2,434 — — Securities of U.S. states and political subdivisions (3 ) 454 — — Federal agency mortgage-backed securities (92 ) 16,498 — — Collateralized loan and other debt obligations (14 ) 1,391 — — Total held-to-maturity securities (121 ) 20,777 — — Total $ (1,919 ) 116,340 (313 ) 3,738 December 31, 2014 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ (138 ) 12,857 — — Securities of U.S. states and political subdivisions (459 ) 13,600 (40 ) 353 Mortgage-backed securities: Federal agencies (751 ) 39,560 — — Residential — 139 (24 ) 951 Commercial (24 ) 3,366 (33 ) 368 Total mortgage-backed securities (775 ) 43,065 (57 ) 1,319 Corporate debt securities (39 ) 1,807 (131 ) 1,132 Collateralized loan and other debt obligations (172 ) 16,609 (12 ) 104 Other (23 ) 782 (4 ) 203 Total debt securities (1,606 ) 88,720 (244 ) 3,111 Perpetual preferred securities (70 ) 725 — — Total available-for-sale securities (1,676 ) 89,445 (244 ) 3,111 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies (8 ) 1,889 — — Collateralized loan and other debt obligations (13 ) 1,391 — — Total held-to-maturity securities (21 ) 3,280 — — Total $ (1,697 ) 92,725 (244 ) 3,111 Contractual Maturities The following table shows the remaining contractual maturities and contractual weighted-average yields (taxable-equivalent basis) of available-for-sale debt securities. The remaining contractual principal maturities for MBS do not consider prepayments. Remaining expected maturities will differ from contractual maturities because borrowers may have the right to prepay obligations before the underlying mortgages mature. Remaining contractual maturity Total Within one year After one year through five years After five years through ten years After ten years (in millions) amount Yield Amount Yield Amount Yield Amount Yield Amount Yield September 30, 2015 Available-for-sale securities (1) : Securities of U.S. Treasury and federal agencies $ 35,423 1.50 % $ 128 0.72 % $ 30,972 1.46 % $ 4,323 1.82 % $ — — % Securities of U.S. states and political subdivisions 49,423 5.71 2,386 1.72 7,767 2.05 3,165 5.21 36,105 6.80 Mortgage-backed securities: Federal agencies 105,023 3.29 5 6.53 335 1.80 1,223 3.94 103,460 3.29 Residential 8,128 4.44 — — 37 5.11 37 6.03 8,054 4.43 Commercial 14,708 5.18 — — 61 2.66 — — 14,647 5.19 Total mortgage-backed securities 127,859 3.58 5 6.53 433 2.21 1,260 4.01 126,161 3.58 Corporate debt securities 15,490 4.74 1,431 4.21 7,459 4.58 5,263 4.91 1,337 5.54 Collateralized loan and other debt obligations 30,054 2.02 — — 786 0.79 12,365 1.91 16,903 2.15 Other 6,216 1.85 309 1.69 1,191 2.49 999 1.74 3,717 1.68 Total available-for-sale debt securities at fair value $ 264,465 3.55 % $ 4,259 2.53 % $ 48,608 2.05 % $ 27,375 2.95 % $ 184,223 4.06 % December 31, 2014 Available-for-sale securities (1): ` Securities of U.S. Treasury and federal agencies $ 25,804 1.49 % $ 181 1.47 % $ 22,348 1.44 % $ 3,275 1.83 % $ — — % Securities of U.S. states and political subdivisions 44,944 5.66 3,568 1.71 7,050 2.19 3,235 5.13 31,091 6.96 Mortgage-backed securities: Federal agencies 110,089 3.27 — — 276 2.86 1,011 3.38 108,802 3.27 Residential 9,269 4.50 — — 9 4.81 83 5.63 9,177 4.49 Commercial 16,994 5.16 1 0.28 62 2.71 5 1.30 16,926 5.17 Total mortgage-backed securities 136,352 3.59 1 0.28 347 2.88 1,099 3.54 134,905 3.59 Corporate debt securities 14,786 4.90 600 4.32 7,634 4.54 5,209 5.30 1,343 5.70 Collateralized loan and other debt obligations 25,361 1.83 23 1.95 944 0.71 8,472 1.67 15,922 1.99 Other 6,519 1.79 274 1.55 1,452 2.56 1,020 1.32 3,773 1.64 Total available-for-sale debt securities at fair value $ 253,766 3.60 % $ 4,647 2.03 % $ 39,775 2.20 % $ 22,310 3.12 % $ 187,034 3.99 % (1) Weighted-average yields displayed by maturity bucket are weighted based on fair value and predominantly represent contractual coupon rates without effect for any related hedging derivatives. The following table shows the amortized cost and weighted-average yields of held-to-maturity debt securities by contractual maturity. Remaining contractual maturity Total Within one year After one year through five years After five years through ten years After ten years (in millions) amount Yield Amount Yield Amount Yield Amount Yield Amount Yield September 30, 2015 Held-to-maturity securities (1) : Amortized cost: Securities of U.S. Treasury and federal agencies $ 44,653 2.12 % $ — — % $ — — % $ 44,653 2.12 % $ — — % Securities of U.S. states and political subdivisions 2,187 5.73 — — — — 99 7.32 2,088 5.65 Federal agency mortgage-backed securities 26,828 3.47 — — — — — — 26,828 3.47 Collateralized loan and other debt obligations 1,405 2.01 — — — — — — 1,405 2.01 Other 3,595 1.61 — — 2,560 1.68 1,035 1.43 — — Total held-to-maturity debt securities at amortized cost $ 78,668 2.66 % $ — — % $ 2,560 1.68 % $ 45,787 2.11 % $ 30,321 3.56 % December 31, 2014 Held-to-maturity securities (1): Amortized cost: Securities of U.S. Treasury and federal agencies $ 40,886 2.12 % $ — — % $ — — % $ 40,886 2.12 % $ — — % Securities of U.S. states and political subdivisions 1,962 5.60 — — % — — 9 6.60 1,953 5.59 Federal agency mortgage-backed securities 5,476 3.89 — — % — — — — 5,476 3.89 Collateralized loan and other debt obligations 1,404 1.96 — — — — — — 1,404 1.96 Other 5,755 1.64 192 1.61 4,214 1.72 1,349 1.41 — — Total held-to-maturity debt securities at amortized cost $ 55,483 2.37 % $ 192 1.61 % $ 4,214 1.72 % $ 42,244 2.10 % $ 8,833 3.96 % (1) Weighted-average yields displayed by maturity bucket are weighted based on amortized cost and predominantly represent contractual coupon rates. The following table shows the fair value of held-to-maturity debt securities by contractual maturity. Remaining contractual maturity Total Within one year After one year through five years After five years through ten years After ten years (in millions) amount Amount Amount Amount Amount September 30, 2015 Held-to-maturity securities: Fair value: Securities of U.S. Treasury and federal agencies $ 45,974 — — 45,974 — Securities of U.S. states and political subdivisions 2,212 — — 100 2,112 Federal agency mortgage-backed securities 26,930 — — — 26,930 Collateralized loan and other debt obligations 1,391 — — — 1,391 Other 3,612 — 2,572 1,040 — Total held-to-maturity debt securities at fair value $ 80,119 — 2,572 47,114 30,433 December 31, 2014 Held-to-maturity securities: Fair value: Securities of U.S. Treasury and federal agencies $ 41,548 — — 41,548 — Securities of U.S. states and political subdivisions 1,989 — — 9 1,980 Federal agency mortgage-backed securities 5,641 — — — 5,641 Collateralized loan and other debt obligations 1,391 — — — 1,391 Other 5,790 193 4,239 1,358 — Total held-to-maturity debt securities at fair value $ 56,359 193 4,239 42,915 9,012 Realized Gains and Losses The following table shows the gross realized gains and losses on sales and OTTI write-downs related to the available-for-sale securities portfolio, which includes marketable equity securities, as well as net realized gains and losses on nonmarketable equity investments (see Note 6 (Other Assets)). Quarter ended Sep 30, Nine months ended Sep 30, (in millions) 2015 2014 2015 2014 Gross realized gains $ 530 675 1,133 1,220 Gross realized losses (21 ) (4 ) (57 ) (9 ) OTTI write-downs (74 ) (15 ) (125 ) (37 ) Net realized gains from available-for-sale securities 435 656 951 1,174 Net realized gains from nonmarketable equity investments 632 309 1,462 1,241 Net realized gains from debt securities and equity investments $ 1,067 965 2,413 2,415 Other-Than-Temporary Impairment The following table shows the detail of total OTTI write-downs included in earnings for available-for-sale debt securities, marketable equity securities and nonmarketable equity investments. There were no OTTI write-downs on held-to-maturity securities during the first nine months of 2015 and 2014 . Quarter ended Sep 30, Nine months ended Sep 30, (in millions) 2015 2014 2015 2014 OTTI write-downs included in earnings Debt securities: Securities of U.S. states and political subdivisions $ 2 3 18 5 Mortgage-backed securities: Residential 9 11 43 21 Commercial 3 1 3 7 Corporate debt securities 59 — 59 — Collateralized loan and other debt obligations — — — 2 Total debt securities 73 15 123 35 Equity securities: Marketable equity securities: Other marketable equity securities 1 — 2 2 Total marketable equity securities 1 — 2 2 Total investment securities 74 15 125 37 Nonmarketable equity investments 66 40 183 235 Total OTTI write-downs included in earnings $ 140 55 308 272 Other-Than-Temporarily Impaired Debt Securities The following table shows the detail of OTTI write-downs on available-for-sale debt securities included in earnings and the related changes in OCI for the same securities. Quarter ended Sep 30, Nine months ended Sep 30, (in millions) 2015 2014 2015 2014 OTTI on debt securities Recorded as part of gross realized losses: Credit-related OTTI $ 70 14 109 30 Intent-to-sell OTTI 3 1 14 5 Total recorded as part of gross realized losses 73 15 123 35 Changes to OCI for losses (reversal of losses) in non-credit-related OTTI (1): Securities of U.S. states and political subdivisions — 1 (1 ) 2 Residential mortgage-backed securities (6 ) (6 ) (37 ) (19 ) Commercial mortgage-backed securities 2 — (13 ) (19 ) Corporate debt securities 1 — 1 — Total changes to OCI for non-credit-related OTTI (3 ) (5 ) (50 ) (36 ) Total OTTI losses (reversal of losses) recorded on debt securities $ 70 10 73 (1 ) (1) Represents amounts recorded to OCI for impairment, due to factors other than credit, on debt securities that have also had credit-related OTTI write-downs during the period. Increases represent initial or subsequent non-credit-related OTTI on debt securities. Decreases represent partial to full reversal of impairment due to recoveries in the fair value of securities due to non-credit factors. The following table presents a rollforward of the OTTI credit loss that has been recognized in earnings as a write-down of available-for-sale debt securities we still own (referred to as "credit-impaired" debt securities) and do not intend to sell. Recognized credit loss represents the difference between the present value of expected future cash flows discounted using the security’s current effective interest rate and the amortized cost basis of the security prior to considering credit loss. Quarter ended Sep 30, Nine months ended Sep 30, (in millions) 2015 2014 2015 2014 Credit loss recognized, beginning of period $ 993 1,107 1,025 1,171 Additions: For securities with initial credit impairments 64 2 64 5 For securities with previous credit impairments 6 12 45 25 Total additions 70 14 109 30 Reductions: For securities sold, matured, or intended/required to be sold (23 ) (87 ) (89 ) (156 ) For recoveries of previous credit impairments (1) (1 ) (4 ) (6 ) (15 ) Total reductions (24 ) (91 ) (95 ) (171 ) Credit loss recognized, end of period $ 1,039 1,030 1,039 1,030 (1) Recoveries of previous credit impairments result from increases in expected cash flows subsequent to credit loss recognition. Such recoveries are reflected prospectively as interest yield adjustments using the effective interest method. |
Loans and Allowance for Credit
Loans and Allowance for Credit Losses | 9 Months Ended |
Sep. 30, 2015 | |
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |
Loans and Allowance for Credit Losses | 120% (1) 2,182 3,155 5,337 2,856 4,058 6,914 No LTV/CLTV available 1,597 1,031 2,628 1,416 1,046 2,462 Government insured/guaranteed loans (2) 22,763 — 22,763 26,268 — 26,268 Total consumer loans (excluding PCI) 251,426 54,517 305,943 243,674 59,616 303,290 Total consumer PCI loans (carrying value) 19,885 75 19,960 21,712 101 21,813 Total consumer loans $ 271,311 54,592 325,903 265,386 59,717 325,103 (1) Reflects total loan balances with LTV/CLTV amounts in excess of 100%. In the event of default, the loss content would generally be limited to only the amount in excess of 100% LTV/CLTV. (2) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. NONACCRUAL LOANS The following table provides loans on nonaccrual status. PCI loans are excluded from this table because they continue to earn interest from accretable yield, independent of performance in accordance with their contractual terms. (in millions) Sep 30, Dec 31, Commercial: Commercial and industrial $ 1,031 538 Real estate mortgage 1,125 1,490 Real estate construction 151 187 Lease financing 29 24 Total commercial (1) 2,336 2,239 Consumer: Real estate 1-4 family first mortgage (2) 7,425 8,583 Real estate 1-4 family junior lien mortgage 1,612 1,848 Automobile 123 137 Other revolving credit and installment 41 41 Total consumer 9,201 10,609 Total nonaccrual loans (excluding PCI) $ 11,537 12,848 (1) Includes LHFS of $0 million at September 30, 2015 and $1 million at December 31, 2014 . (2) Includes MHFS of $96 million and $177 million at September 30, 2015 , and December 31, 2014 , respectively. LOANS IN PROCESS OF FORECLOSURE Our recorded investment in consumer mortgage loans collateralized by residential real estate property that are in process of foreclosure was $11.8 billion and $12.7 billion at September 30, 2015 and December 31, 2014 , respectively, which included $6.4 billion and $6.6 billion , respectively, of loans that are government insured/guaranteed. We commence the foreclosure process on consumer real estate loans when a borrower becomes 120 days delinquent in accordance with Consumer Finance Protection Bureau Guidelines. Foreclosure procedures and timelines vary depending on whether the property address resides in a judicial or non-judicial state. Judicial states require the foreclosure to be processed through the state’s courts while non-judicial states are processed without court intervention. Foreclosure timelines vary according to state law. LOANS 90 DAYS OR MORE PAST DUE AND STILL ACCRUING Certain loans 90 days or more past due as to interest or principal are still accruing, because they are (1) well-secured and in the process of collection or (2) real estate 1-4 family mortgage loans or consumer loans exempt under regulatory rules from being classified as nonaccrual until later delinquency, usually 120 days past due. PCI loans of $3.2 billion at September 30, 2015 , and $3.7 billion at December 31, 2014 , are not included in these past due and still accruing loans even though they are 90 days or more contractually past due. These PCI loans are considered to be accruing because they continue to earn interest from accretable yield, independent of performance in accordance with their contractual terms. The following table shows non-PCI loans 90 days or more past due and still accruing by class for loans not government insured/guaranteed. (in millions) Sep 30, 2015 Dec 31, 2014 Loans 90 days or more past due and still accruing: Total (excluding PCI): $ 14,405 17,810 Less: FHA insured/guaranteed by the VA (1)(2) 13,500 16,827 Less: Student loans guaranteed under the FFELP (3) 33 63 Total, not government insured/guaranteed $ 872 920 By segment and class, not government insured/guaranteed: Commercial: Commercial and industrial $ 53 31 Real estate mortgage 24 16 Real estate construction — — Total commercial 77 47 Consumer: Real estate 1-4 family first mortgage (2) 216 260 Real estate 1-4 family junior lien mortgage (2) 61 83 Credit card 353 364 Automobile 66 73 Other revolving credit and installment 99 93 Total consumer 795 873 Total, not government insured/guaranteed $ 872 920 (1) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. (2) Includes mortgage loans held for sale 90 days or more past due and still accruing. (3) Represents loans whose repayments are predominantly guaranteed by agencies on behalf of the U.S. Department of Education under the FFELP. IMPAIRED LOANS The table below summarizes key information for impaired loans. Our impaired loans predominantly include loans on nonaccrual status in the commercial portfolio segment and loans modified in a TDR, whether on accrual or nonaccrual status. These impaired loans generally have estimated losses which are included in the allowance for credit losses. We have impaired loans with no allowance for credit losses when loss content has been previously recognized through charge-offs and we do not anticipate additional charge-offs or losses, or certain loans are currently performing in accordance with their terms and for which no loss has been estimated. Impaired loans exclude PCI loans. The table below includes trial modifications that totaled $421 million at September 30, 2015 , and $452 million at December 31, 2014 . For additional information on our impaired loans and allowance for credit losses, see Note 1 (Summary of Significant Accounting Policies) in our 2014 Form 10-K. Recorded investment (in millions) Unpaid principal balance (1) Impaired loans Impaired loans with related allowance for credit losses Related allowance for credit losses September 30, 2015 Commercial: Commercial and industrial $ 2,090 1,416 1,209 252 Real estate mortgage 2,623 2,036 1,950 415 Real estate construction 343 214 195 44 Lease financing 42 30 30 8 Total commercial 5,098 3,696 3,384 719 Consumer: Real estate 1-4 family first mortgage 20,055 17,508 11,393 1,816 Real estate 1-4 family junior lien mortgage 2,743 2,450 1,894 464 Credit card 307 307 307 95 Automobile 174 109 41 6 Other revolving credit and installment 76 69 62 9 Total consumer (2) 23,355 20,443 13,697 2,390 Total impaired loans (excluding PCI) $ 28,453 24,139 17,081 3,109 December 31, 2014 Commercial: Commercial and industrial $ 1,524 926 757 240 Real estate mortgage 3,190 2,483 2,405 591 Real estate construction 491 331 308 45 Lease financing 33 19 19 8 Total commercial 5,238 3,759 3,489 884 Consumer: Real estate 1-4 family first mortgage 21,324 18,600 12,433 2,322 Real estate 1-4 family junior lien mortgage 3,094 2,534 2,009 653 Credit card 338 338 338 98 Automobile 190 127 55 8 Other revolving credit and installment 60 50 42 5 Total consumer (2) 25,006 21,649 14,877 3,086 Total impaired loans (excluding PCI) $ 30,244 25,408 18,366 3,970 (1) Excludes the unpaid principal balance for loans that have been fully charged off or otherwise have zero recorded investment. (2) Periods ended September 30, 2015 and December 31, 2014 each include the recorded investment of $1.8 billion and $2.1 billion , respectively, of government insured/guaranteed loans that are predominantly insured by the FHA or guaranteed by the VA and generally do not have an allowance. Commitments to lend additional funds on loans whose terms have been modified in a TDR amounted to $330 million and $341 million at September 30, 2015 and December 31, 2014 , respectively. The following tables provide the average recorded investment in impaired loans and the amount of interest income recognized on impaired loans by portfolio segment and class. Quarter ended September 30, Nine months ended September 30, 2015 2014 2015 2014 (in millions) Average recorded investment Recognized interest income Average recorded investment Recognized interest income Average recorded investment Recognized interest income Average recorded investment Recognized interest income Commercial: Commercial and industrial $ 1,407 21 1,082 22 1,108 64 1,156 60 Real estate mortgage 2,109 34 2,856 42 2,241 108 3,043 107 Real estate construction 232 7 407 7 260 22 485 22 Lease financing 27 — 26 1 24 — 30 1 Total commercial 3,775 62 4,371 72 3,633 194 4,714 190 Consumer: Real estate 1-4 family first mortgage 17,761 231 19,104 232 18,125 697 18,954 707 Real estate 1-4 family junior lien mortgage 2,467 34 2,555 36 2,499 103 2,552 107 Credit card 310 10 367 11 321 30 392 35 Automobile 111 3 144 4 118 11 161 15 Other revolving credit and installment 61 1 41 1 57 3 38 3 Total consumer 20,710 279 22,211 284 21,120 844 22,097 867 Total impaired loans (excluding PCI) $ 24,485 341 26,582 356 24,753 1,038 26,811 1,057 Interest income: Cash basis of accounting $ 104 115 323 314 Other (1) 237 241 715 743 Total interest income $ 341 356 1,038 1,057 (1) Includes interest recognized on accruing TDRs, interest recognized related to certain impaired loans which have an allowance calculated using discounting, and amortization of purchase accounting adjustments related to certain impaired loans. TROUBLED DEBT RESTRUCTURINGS (TDRs) When, for economic or legal reasons related to a borrower’s financial difficulties, we grant a concession for other than an insignificant period of time to a borrower that we would not otherwise consider, the related loan is classified as a TDR. We do not consider any loans modified through a loan resolution such as foreclosure or short sale to be a TDR. We may require some consumer borrowers experiencing financial difficulty to make trial payments generally for a period of three to four months, according to the terms of a planned permanent modification, to determine if they can perform according to those terms. These arrangements represent trial modifications, which we classify and account for as TDRs. While loans are in trial payment programs, their original terms are not considered modified and they continue to advance through delinquency st" id="sjs-B4">Note 5: Loans and Allowance for Credit Losses The following table presents total loans outstanding by portfolio segment and class of financing receivable. Outstanding balances include a total net reduction of $3.8 billion and $4.5 billion at September 30, 2015 , and December 31, 2014 , respectively, for unearned income, net deferred loan fees, and unamortized discounts and premiums. (in millions) Sep 30, Dec 31, Commercial: Commercial and industrial $ 292,234 271,795 Real estate mortgage 121,252 111,996 Real estate construction 21,710 18,728 Lease financing 12,142 12,307 Total commercial 447,338 414,826 Consumer: Real estate 1-4 family first mortgage 271,311 265,386 Real estate 1-4 family junior lien mortgage 54,592 59,717 Credit card 32,286 31,119 Automobile 59,164 55,740 Other revolving credit and installment 38,542 35,763 Total consumer 455,895 447,725 Total loans $ 903,233 862,551 Our foreign loans are reported by respective class of financing receivable in the table above. Substantially all of our foreign loan portfolio is commercial loans. Loans are classified as foreign primarily based on whether the borrower’s primary address is outside of the United States. The following table presents total commercial foreign loans outstanding by class of financing receivable. (in millions) Sep 30, Dec 31, Commercial foreign loans: Commercial and industrial $ 46,380 44,707 Real estate mortgage 8,662 4,776 Real estate construction 396 218 Lease financing 279 336 Total commercial foreign loans $ 55,717 50,037 Loan Purchases, Sales, and Transfers The following table summarizes the proceeds paid or received for purchases and sales of loans and transfers from loans held for investment to mortgages/loans held for sale at lower of cost or fair value. This loan activity primarily includes loans purchased and sales of whole loan or participating interests, whereby we receive or transfer a portion of a loan after origination. The table excludes PCI loans and loans recorded at fair value, including loans originated for sale because their loan activity normally does not impact the allowance for credit losses. 2015 2014 (in millions) Commercial Consumer Total Commercial Consumer Total Quarter ended September 30, Purchases (1) $ 1,818 29 1,847 1,214 — 1,214 Sales (286 ) (130 ) (416 ) (1,270 ) (40 ) (1,310 ) Transfers to MHFS/LHFS (1) (39 ) (7 ) (46 ) (14 ) 2 (12 ) Nine months ended September 30, Purchases (1) $ 12,648 340 12,988 3,751 168 3,919 Sales (649 ) (160 ) (809 ) (4,869 ) (115 ) (4,984 ) Transfers to MHFS/LHFS (1) (91 ) (14 ) (105 ) (73 ) (9,776 ) (9,849 ) (1) The “Purchases” and “Transfers to MHFS/LHFS" categories exclude activity in government insured/guaranteed real estate 1-4 family first mortgage loans. As servicer, we are able to buy delinquent insured/guaranteed loans out of the Government National Mortgage Association (GNMA) pools. These loans are predominantly insured by the Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA). Accordingly, these loans have limited impact on the allowance for loan losses. On a net basis, such purchases net of transfers to MHFS were $145 million and $807 million for third quarter 2015 and 2014 , respectively and $1.0 billion each for the first nine months of 2015 and 2014 , respectively. Commitments to Lend A commitment to lend is a legally binding agreement to lend funds to a customer, usually at a stated interest rate, if funded, and for specific purposes and time periods. We generally require a fee to extend such commitments. Certain commitments are subject to loan agreements with covenants regarding the financial performance of the customer or borrowing base formulas on an ongoing basis that must be met before we are required to fund the commitment. We may reduce or cancel consumer commitments, including home equity lines and credit card lines, in accordance with the contracts and applicable law. We may, as a representative for other lenders, advance funds or provide for the issuance of letters of credit under syndicated loan or letter of credit agreements. Any advances are generally repaid in less than a week and would normally require default of both the customer and another lender to expose us to loss. These temporary advance arrangements totaled approximately $75 billion at September 30, 2015 and $87 billion at December 31, 2014 . We issue commercial letters of credit to assist customers in purchasing goods or services, typically for international trade. At both September 30, 2015 , and December 31, 2014 , we had $1.2 billion of outstanding issued commercial letters of credit. We also originate multipurpose lending commitments under which borrowers have the option to draw on the facility for different purposes in one of several forms, including a standby letter of credit. See Note 10 (Guarantees, Pledged Assets and Collateral) for additional information on standby letters of credit. When we make commitments, we are exposed to credit risk. The maximum credit risk for these commitments will generally be lower than the contractual amount because a significant portion of these commitments are expected to expire without being used by the customer. In addition, we manage the potential risk in commitments to lend by limiting the total amount of commitments, both by individual customer and in total, by monitoring the size and maturity structure of these commitments and by applying the same credit standards for these commitments as for all of our credit activities. For loans and commitments to lend, we generally require collateral or a guarantee. We may require various types of collateral, including commercial and consumer real estate, autos, other short-term liquid assets such as accounts receivable or inventory and long-lived assets, such as equipment and other business assets. Collateral requirements for each loan or commitment may vary based on the loan product and our assessment of a customer’s credit risk according to the specific credit underwriting, including credit terms and structure. The contractual amount of our unfunded credit commitments, including unissued standby and commercial letters of credit, is summarized by portfolio segment and class of financing receivable in the following table. The table excludes the standby and commercial letters of credit and temporary advance arrangements described above. (in millions) Sep 30, Dec 31, Commercial: Commercial and industrial $ 292,137 278,093 Real estate mortgage 7,387 6,134 Real estate construction 16,817 15,587 Lease financing — 3 Total commercial 316,341 299,817 Consumer: Real estate 1-4 family first mortgage 36,411 32,055 Real estate 1-4 family junior lien mortgage 43,736 45,492 Credit card 99,442 95,062 Other revolving credit and installment 27,260 24,816 Total consumer 206,849 197,425 Total unfunded credit commitments $ 523,190 497,242 Allowance for Credit Losses The allowance for credit losses consists of the allowance for loan losses and the allowance for unfunded credit commitments. Changes in the allowance for credit losses were: Quarter ended September 30, Nine months ended September 30, (in millions) 2015 2014 2015 2014 Balance, beginning of period $ 12,614 13,834 13,169 14,971 Provision for credit losses 703 368 1,611 910 Interest income on certain impaired loans (1) (48 ) (52 ) (150 ) (163 ) Loan charge-offs: Commercial: Commercial and industrial (172 ) (157 ) (459 ) (466 ) Real estate mortgage (9 ) (11 ) (48 ) (47 ) Real estate construction — (3 ) (2 ) (7 ) Lease financing (5 ) (5 ) (11 ) (12 ) Total commercial (186 ) (176 ) (520 ) (532 ) Consumer: Real estate 1-4 family first mortgage (145 ) (167 ) (394 ) (583 ) Real estate 1-4 family junior lien mortgage (159 ) (202 ) (501 ) (671 ) Credit card (259 ) (236 ) (821 ) (769 ) Automobile (186 ) (192 ) (531 ) (515 ) Other revolving credit and installment (160 ) (160 ) (465 ) (508 ) Total consumer (909 ) (957 ) (2,712 ) (3,046 ) Total loan charge-offs (1,095 ) (1,133 ) (3,232 ) (3,578 ) Loan recoveries: Commercial: Commercial and industrial 50 90 192 290 Real estate mortgage 32 48 97 116 Real estate construction 8 61 25 108 Lease financing 2 1 6 6 Total commercial 92 200 320 520 Consumer: Real estate 1-4 family first mortgage 83 53 182 162 Real estate 1-4 family junior lien mortgage 70 62 195 179 Credit card 43 35 123 126 Automobile 73 80 249 267 Other revolving credit and installment 31 35 102 114 Total consumer 300 265 851 848 Total loan recoveries 392 465 1,171 1,368 Net loan charge-offs (2) (703 ) (668 ) (2,061 ) (2,210 ) Allowances related to business combinations/other (4 ) (1 ) (7 ) (27 ) Balance, end of period $ 12,562 13,481 12,562 13,481 Components: Allowance for loan losses $ 11,659 12,681 11,659 12,681 Allowance for unfunded credit commitments 903 800 903 800 Allowance for credit losses (3) $ 12,562 13,481 12,562 13,481 Net loan charge-offs (annualized) as a percentage of average total loans (2) 0.31 % 0.32 0.31 0.36 Allowance for loan losses as a percentage of total loans (3) 1.29 1.51 1.29 1.51 Allowance for credit losses as a percentage of total loans (3) 1.39 1.61 1.39 1.61 (1) Certain impaired loans with an allowance calculated by discounting expected cash flows using the loan’s effective interest rate over the remaining life of the loan recognize reductions in the allowance as interest income. (2) For PCI loans, charge-offs are only recorded to the extent that losses exceed the purchase accounting estimates. (3) The allowance for credit losses includes $5 million and $11 million at September 30, 2015 and 2014 , respectively, related to PCI loans acquired from Wachovia. Loans acquired from Wachovia are included in total loans net of related purchase accounting net write-downs. The following table summarizes the activity in the allowance for credit losses by our commercial and consumer portfolio segments. 2015 2014 (in millions) Commercial Consumer Total Commercial Consumer Total Quarter ended September 30, Balance, beginning of period $ 6,279 6,335 12,614 6,400 7,434 13,834 Provision for credit losses 348 355 703 (9 ) 377 368 Interest income on certain impaired loans (3 ) (45 ) (48 ) (5 ) (47 ) (52 ) Loan charge-offs (186 ) (909 ) (1,095 ) (176 ) (957 ) (1,133 ) Loan recoveries 92 300 392 200 265 465 Net loan charge-offs (94 ) (609 ) (703 ) 24 (692 ) (668 ) Allowance related to business combinations/other (4 ) — (4 ) (1 ) — (1 ) Balance, end of period $ 6,526 6,036 12,562 6,409 7,072 13,481 Nine months ended September 30, Balance, beginning of period $ 6,377 6,792 13,169 6,103 8,868 14,971 Provision for credit losses 368 1,243 1,611 337 573 910 Interest income on certain impaired loans (12 ) (138 ) (150 ) (17 ) (146 ) (163 ) Loan charge-offs (520 ) (2,712 ) (3,232 ) (532 ) (3,046 ) (3,578 ) Loan recoveries 320 851 1,171 520 848 1,368 Net loan charge-offs (200 ) (1,861 ) (2,061 ) (12 ) (2,198 ) (2,210 ) Allowance related to business combinations/other (7 ) — (7 ) (2 ) (25 ) (27 ) Balance, end of period $ 6,526 6,036 12,562 6,409 7,072 13,481 The following table disaggregates our allowance for credit losses and recorded investment in loans by impairment methodology. Allowance for credit losses Recorded investment in loans (in millions) Commercial Consumer Total Commercial Consumer Total September 30, 2015 Collectively evaluated (1) $ 5,802 3,646 9,448 442,865 415,492 858,357 Individually evaluated (2) 719 2,390 3,109 3,696 20,443 24,139 PCI (3) 5 — 5 777 19,960 20,737 Total $ 6,526 6,036 12,562 447,338 455,895 903,233 December 31, 2014 Collectively evaluated (1) $ 5,482 3,706 9,188 409,560 404,263 813,823 Individually evaluated (2) 884 3,086 3,970 3,759 21,649 25,408 PCI (3) 11 — 11 1,507 21,813 23,320 Total $ 6,377 6,792 13,169 414,826 447,725 862,551 (1) Represents loans collectively evaluated for impairment in accordance with Accounting Standards Codification (ASC) 450-20, Loss Contingencies (formerly FAS 5), and pursuant to amendments by ASU 2010-20 regarding allowance for non-impaired loans. (2) Represents loans individually evaluated for impairment in accordance with ASC 310-10, Receivables (formerly FAS 114), and pursuant to amendments by ASU 2010-20 regarding allowance for impaired loans. (3) Represents the allowance and related loan carrying value determined in accordance with ASC 310-30 , Receivables – Loans and Debt Securities Acquired with Deteriorated Credit Quality (formerly SOP 03-3) and pursuant to amendments by ASU 2010-20 regarding allowance for PCI loans. Credit Quality We monitor credit quality by evaluating various attributes and utilize such information in our evaluation of the appropriateness of the allowance for credit losses. The following sections provide the credit quality indicators we most closely monitor. The credit quality indicators are generally based on information as of our financial statement date, with the exception of updated Fair Isaac Corporation (FICO) scores and updated loan-to-value (LTV)/combined LTV (CLTV), which are obtained at least quarterly. Generally, these indicators are updated in the second month of each quarter, with updates no older than June 30, 2015 . See the “Purchased Credit-Impaired Loans” section of this Note for credit quality information on our PCI portfolio. COMMERCIAL CREDIT QUALITY INDICATORS In addition to monitoring commercial loan concentration risk, we manage a consistent process for assessing commercial loan credit quality. Generally, commercial loans are subject to individual risk assessment using our internal borrower and collateral quality ratings. Our ratings are aligned to Pass and Criticized categories. The Criticized category includes Special Mention, Substandard, and Doubtful categories which are defined by bank regulatory agencies. The following table provides a breakdown of outstanding commercial loans by risk category. Of the $7.9 billion in criticized commercial real estate (CRE) loans at September 30, 2015 , $1.3 billion has been placed on nonaccrual status and written down to net realizable collateral value. CRE loans have a high level of monitoring in place to manage these assets and mitigate loss exposure. (in millions) Commercial and industrial Real estate mortgage Real estate construction Lease financing Total September 30, 2015 By risk category: Pass $ 274,581 113,436 20,956 11,645 420,618 Criticized 17,582 7,210 654 497 25,943 Total commercial loans (excluding PCI) 292,163 120,646 21,610 12,142 446,561 Total commercial PCI loans (carrying value) 71 606 100 — 777 Total commercial loans $ 292,234 121,252 21,710 12,142 447,338 December 31, 2014 By risk category: Pass $ 255,611 103,319 17,661 11,723 388,314 Criticized 16,109 7,416 896 584 25,005 Total commercial loans (excluding PCI) 271,720 110,735 18,557 12,307 413,319 Total commercial PCI loans (carrying value) 75 1,261 171 — 1,507 Total commercial loans $ 271,795 111,996 18,728 12,307 414,826 The following table provides past due information for commercial loans, which we monitor as part of our credit risk management practices. (in millions) Commercial and industrial Real estate mortgage Real estate construction Lease financing Total September 30, 2015 By delinquency status: Current-29 DPD and still accruing $ 290,597 119,250 21,419 12,084 443,350 30-89 DPD and still accruing 482 247 40 29 798 90+ DPD and still accruing 53 24 — — 77 Nonaccrual loans 1,031 1,125 151 29 2,336 Total commercial loans (excluding PCI) 292,163 120,646 21,610 12,142 446,561 Total commercial PCI loans (carrying value) 71 606 100 — 777 Total commercial loans $ 292,234 121,252 21,710 12,142 447,338 December 31, 2014 By delinquency status: Current-29 DPD and still accruing $ 270,624 109,032 18,345 12,251 410,252 30-89 DPD and still accruing 527 197 25 32 781 90+ DPD and still accruing 31 16 — — 47 Nonaccrual loans 538 1,490 187 24 2,239 Total commercial loans (excluding PCI) 271,720 110,735 18,557 12,307 413,319 Total commercial PCI loans (carrying value) 75 1,261 171 — 1,507 Total commercial loans $ 271,795 111,996 18,728 12,307 414,826 CONSUMER CREDIT QUALITY INDICATORS We have various classes of consumer loans that present unique risks. Loan delinquency, FICO credit scores and LTV for loan types are common credit quality indicators that we monitor and utilize in our evaluation of the appropriateness of the allowance for credit losses for the consumer portfolio segment. Many of our loss estimation techniques used for the allowance for credit losses rely on delinquency-based models; therefore, delinquency is an important indicator of credit quality and the establishment of our allowance for credit losses. The following table provides the outstanding balances of our consumer portfolio by delinquency status. (in millions) Real estate 1-4 family first mortgage Real estate 1-4 family junior lien mortgage Credit card Automobile Other revolving credit and installment Total September 30, 2015 By delinquency status: Current-29 DPD $ 221,267 53,329 31,519 57,880 38,156 402,151 30-59 DPD 2,209 344 249 989 162 3,953 60-89 DPD 811 181 165 220 109 1,486 90-119 DPD 392 115 136 71 84 798 120-179 DPD 448 145 216 4 18 831 180+ DPD 3,536 403 1 — 13 3,953 Government insured/guaranteed loans (1) 22,763 — — — — 22,763 Total consumer loans (excluding PCI) 251,426 54,517 32,286 59,164 38,542 435,935 Total consumer PCI loans (carrying value) 19,885 75 — — — 19,960 Total consumer loans $ 271,311 54,592 32,286 59,164 38,542 455,895 December 31, 2014 By delinquency status: Current-29 DPD $ 208,642 58,182 30,356 54,365 35,356 386,901 30-59 DPD 2,415 398 239 1,056 180 4,288 60-89 DPD 993 220 160 235 111 1,719 90-119 DPD 488 158 136 78 82 942 120-179 DPD 610 194 227 5 21 1,057 180+ DPD 4,258 464 1 1 13 4,737 Government insured/guaranteed loans (1) 26,268 — — — — 26,268 Total consumer loans (excluding PCI) 243,674 59,616 31,119 55,740 35,763 425,912 Total consumer PCI loans (carrying value) 21,712 101 — — — 21,813 Total consumer loans $ 265,386 59,717 31,119 55,740 35,763 447,725 (1) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. Loans insured/guaranteed by the FHA/VA and 90+ DPD totaled $12.6 billion at September 30, 2015 , compared with $16.2 billion at December 31, 2014 . Of the $5.6 billion of consumer loans not government insured/guaranteed that are 90 days or more past due at September 30, 2015 , $795 million was accruing, compared with $6.7 billion past due and $873 million accruing at December 31, 2014 . Real estate 1-4 family first mortgage loans 180 days or more past due totaled $3.5 billion , or 1.4% of total first mortgages (excluding PCI), at September 30, 2015 , compared with $4.3 billion , or 1.7% , at December 31, 2014 . The following table provides a breakdown of our consumer portfolio by updated FICO. We obtain FICO scores at loan origination and the scores are updated at least quarterly. The majority of our portfolio is underwritten with a FICO score of 680 and above. FICO is not available for certain loan types and may not be obtained if we deem it unnecessary due to strong collateral and other borrower attributes, primarily security-based loans of $6.7 billion at September 30, 2015 , and $5.9 billion at December 31, 2014 . (in millions) Real estate 1-4 family first mortgage Real estate 1-4 family junior lien mortgage Credit card Automobile Other revolving credit and installment Total September 30, 2015 By updated FICO: < 600 $ 9,459 3,163 2,799 8,945 918 25,284 600-639 7,210 2,484 2,760 6,633 1,069 20,156 640-679 13,416 4,806 5,128 10,003 2,337 35,690 680-719 24,678 8,176 6,540 10,871 4,396 54,661 720-759 37,147 11,327 6,673 8,149 5,943 69,239 760-799 91,670 16,802 5,386 7,687 8,296 129,841 800+ 41,613 6,892 2,767 6,461 6,406 64,139 No FICO available 3,470 867 233 415 2,450 7,435 FICO not required — — — — 6,727 6,727 Government insured/guaranteed loans (1) 22,763 — — — — 22,763 Total consumer loans (excluding PCI) 251,426 54,517 32,286 59,164 38,542 435,935 Total consumer PCI loans (carrying value) 19,885 75 — — — 19,960 Total consumer loans $ 271,311 54,592 32,286 59,164 38,542 455,895 December 31, 2014 By updated FICO: < 600 $ 11,166 4,001 2,639 8,825 894 27,525 600-639 7,866 2,794 2,588 6,236 1,058 20,542 640-679 13,894 5,324 4,931 9,352 2,366 35,867 680-719 24,412 8,970 6,285 9,994 4,389 54,050 720-759 35,490 12,171 6,407 7,475 5,896 67,439 760-799 82,123 17,897 5,234 7,315 7,673 120,242 800+ 39,219 7,581 2,758 6,184 5,819 61,561 No FICO available 3,236 878 277 359 1,814 6,564 FICO not required — — — — 5,854 5,854 Government insured/guaranteed loans (1) 26,268 — — — — 26,268 Total consumer loans (excluding PCI) 243,674 59,616 31,119 55,740 35,763 425,912 Total consumer PCI loans (carrying value) 21,712 101 — — — 21,813 Total consumer loans $ 265,386 59,717 31,119 55,740 35,763 447,725 (1) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. LTV refers to the ratio comparing the loan’s unpaid principal balance to the property’s collateral value. CLTV refers to the combination of first mortgage and junior lien mortgage (including unused line amounts for credit line products) ratios. LTVs and CLTVs are updated quarterly using a cascade approach which first uses values provided by automated valuation models (AVMs) for the property. If an AVM is not available, then the value is estimated using the original appraised value adjusted by the change in Home Price Index (HPI) for the property location. If an HPI is not available, the original appraised value is used. The HPI value is normally the only method considered for high value properties, generally with an original value of $1 million or more, as the AVM values have proven less accurate for these properties. The following table shows the most updated LTV and CLTV distribution of the real estate 1-4 family first and junior lien mortgage loan portfolios. We consider the trends in residential real estate markets as we monitor credit risk and establish our allowance for credit losses. In the event of a default, any loss should be limited to the portion of the loan amount in excess of the net realizable value of the underlying real estate collateral value. Certain loans do not have an LTV or CLTV primarily due to industry data availability and portfolios acquired from or serviced by other institutions. September 30, 2015 December 31, 2014 (in millions) Real estate 1-4 family first mortgage by LTV Real estate 1-4 family junior lien mortgage by CLTV Total Real estate 1-4 family first mortgage by LTV Real estate 1-4 family junior lien mortgage by CLTV Total By LTV/CLTV: 0-60% $ 108,005 15,861 123,866 95,719 15,603 111,322 60.01-80% 89,604 16,754 106,358 86,112 17,651 103,763 80.01-100% 22,671 11,899 34,570 25,170 14,004 39,174 100.01-120% (1) 4,604 5,817 10,421 6,133 7,254 13,387 > 120% (1) 2,182 3,155 5,337 2,856 4,058 6,914 No LTV/CLTV available 1,597 1,031 2,628 1,416 1,046 2,462 Government insured/guaranteed loans (2) 22,763 — 22,763 26,268 — 26,268 Total consumer loans (excluding PCI) 251,426 54,517 305,943 243,674 59,616 303,290 Total consumer PCI loans (carrying value) 19,885 75 19,960 21,712 101 21,813 Total consumer loans $ 271,311 54,592 325,903 265,386 59,717 325,103 (1) Reflects total loan balances with LTV/CLTV amounts in excess of 100%. In the event of default, the loss content would generally be limited to only the amount in excess of 100% LTV/CLTV. (2) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. NONACCRUAL LOANS The following table provides loans on nonaccrual status. PCI loans are excluded from this table because they continue to earn interest from accretable yield, independent of performance in accordance with their contractual terms. (in millions) Sep 30, Dec 31, Commercial: Commercial and industrial $ 1,031 538 Real estate mortgage 1,125 1,490 Real estate construction 151 187 Lease financing 29 24 Total commercial (1) 2,336 2,239 Consumer: Real estate 1-4 family first mortgage (2) 7,425 8,583 Real estate 1-4 family junior lien mortgage 1,612 1,848 Automobile 123 137 Other revolving credit and installment 41 41 Total consumer 9,201 10,609 Total nonaccrual loans (excluding PCI) $ 11,537 12,848 (1) Includes LHFS of $0 million at September 30, 2015 and $1 million at December 31, 2014 . (2) Includes MHFS of $96 million and $177 million at September 30, 2015 , and December 31, 2014 , respectively. LOANS IN PROCESS OF FORECLOSURE Our recorded investment in consumer mortgage loans collateralized by residential real estate property that are in process of foreclosure was $11.8 billion and $12.7 billion at September 30, 2015 and December 31, 2014 , respectively, which included $6.4 billion and $6.6 billion , respectively, of loans that are government insured/guaranteed. We commence the foreclosure process on consumer real estate loans when a borrower becomes 120 days delinquent in accordance with Consumer Finance Protection Bureau Guidelines. Foreclosure procedures and timelines vary depending on whether the property address resides in a judicial or non-judicial state. Judicial states require the foreclosure to be processed through the state’s courts while non-judicial states are processed without court intervention. Foreclosure timelines vary according to state law. LOANS 90 DAYS OR MORE PAST DUE AND STILL ACCRUING Certain loans 90 days or more past due as to interest or principal are still accruing, because they are (1) well-secured and in the process of collection or (2) real estate 1-4 family mortgage loans or consumer loans exempt under regulatory rules from being classified as nonaccrual until later delinquency, usually 120 days past due. PCI loans of $3.2 billion at September 30, 2015 , and $3.7 billion at December 31, 2014 , are not included in these past due and still accruing loans even though they are 90 days or more contractually past due. These PCI loans are considered to be accruing because they continue to earn interest from accretable yield, independent of performance in accordance with their contractual terms. The following table shows non-PCI loans 90 days or more past due and still accruing by class for loans not government insured/guaranteed. (in millions) Sep 30, 2015 Dec 31, 2014 Loans 90 days or more past due and still accruing: Total (excluding PCI): $ 14,405 17,810 Less: FHA insured/guaranteed by the VA (1)(2) 13,500 16,827 Less: Student loans guaranteed under the FFELP (3) 33 63 Total, not government insured/guaranteed $ 872 920 By segment and class, not government insured/guaranteed: Commercial: Commercial and industrial $ 53 31 Real estate mortgage 24 16 Real estate construction — — Total commercial 77 47 Consumer: Real estate 1-4 family first mortgage (2) 216 260 Real estate 1-4 family junior lien mortgage (2) 61 83 Credit card 353 364 Automobile 66 73 Other revolving credit and installment 99 93 Total consumer 795 873 Total, not government insured/guaranteed $ 872 920 (1) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. (2) Includes mortgage loans held for sale 90 days or more past due and still accruing. (3) Represents loans whose repayments are predominantly guaranteed by agencies on behalf of the U.S. Department of Education under the FFELP. IMPAIRED LOANS The table below summarizes key information for impaired loans. Our impaired loans predominantly include loans on nonaccrual status in the commercial portfolio segment and loans modified in a TDR, whether on accrual or nonaccrual status. These impaired loans generally have estimated losses which are included in the allowance for credit losses. We have impaired loans with no allowance for credit losses when loss content has been previously recognized through charge-offs and we do not anticipate additional charge-offs or losses, or certain loans are currently performing in accordance with their terms and for which no loss has been estimated. Impaired loans exclude PCI loans. The table below includes trial modifications that totaled $421 million at September 30, 2015 , and $452 million at December 31, 2014 . For additional information on our impaired loans and allowance for credit losses, see Note 1 (Summary of Significant Accounting Policies) in our 2014 Form 10-K. Recorded investment (in millions) Unpaid principal balance (1) Impaired loans Impaired loans with related allowance for credit losses Related allowance for credit losses September 30, 2015 Commercial: Commercial and industrial $ 2,090 1,416 1,209 252 Real estate mortgage 2,623 2,036 1,950 415 Real estate construction 343 214 195 44 Lease financing 42 30 30 8 Total commercial 5,098 3,696 3,384 719 Consumer: Real estate 1-4 family first mortgage 20,055 17,508 11,393 1,816 Real estate 1-4 family junior lien mortgage 2,743 2,450 1,894 464 Credit card 307 307 307 95 Automobile 174 109 41 6 Other revolving credit and installment 76 69 62 9 Total consumer (2) 23,355 20,443 13,697 2,390 Total impaired loans (excluding PCI) $ 28,453 24,139 17,081 3,109 December 31, 2014 Commercial: Commercial and industrial $ 1,524 926 757 240 Real estate mortgage 3,190 2,483 2,405 591 Real estate construction 491 331 308 45 Lease financing 33 19 19 8 Total commercial 5,238 3,759 3,489 884 Consumer: Real estate 1-4 family first mortgage 21,324 18,600 12,433 2,322 Real estate 1-4 family junior lien mortgage 3,094 2,534 2,009 653 Credit card 338 338 338 98 Automobile 190 127 55 8 Other revolving credit and installment 60 50 42 5 Total consumer (2) 25,006 21,649 14,877 3,086 Total impaired loans (excluding PCI) $ 30,244 25,408 18,366 3,970 (1) Excludes the unpaid principal balance for loans that have been fully charged off or otherwise have zero recorded investment. (2) Periods ended September 30, 2015 and December 31, 2014 each include the recorded investment of $1.8 billion and $2.1 billion , respectively, of government insured/guaranteed loans that are predominantly insured by the FHA or guaranteed by the VA and generally do not have an allowance. Commitments to lend additional funds on loans whose terms have been modified in a TDR amounted to $330 million and $341 million at September 30, 2015 and December 31, 2014 , respectively. The following tables provide the average recorded investment in impaired loans and the amount of interest income recognized on impaired loans by portfolio segment and class. Quarter ended September 30, Nine months ended September 30, 2015 2014 2015 2014 (in millions) Average recorded investment Recognized interest income Average recorded investment Recognized interest income Average recorded investment Recognized interest income Average recorded investment Recognized interest income Commercial: Commercial and industrial $ 1,407 21 1,082 22 1,108 64 1,156 60 Real estate mortgage 2,109 34 2,856 42 2,241 108 3,043 107 Real estate construction 232 7 407 7 260 22 485 22 Lease financing 27 — 26 1 24 — 30 1 Total commercial 3,775 62 4,371 72 3,633 194 4,714 190 Consumer: Real estate 1-4 family first mortgage 17,761 231 19,104 232 18,125 697 18,954 707 Real estate 1-4 family junior lien mortgage 2,467 34 2,555 36 2,499 103 2,552 107 Credit card 310 10 367 11 321 30 392 35 Automobile 111 3 144 4 118 11 161 15 Other revolving credit and installment 61 1 41 1 57 3 38 3 Total consumer 20,710 279 22,211 284 21,120 844 22,097 867 Total impaired loans (excluding PCI) $ 24,485 341 26,582 356 24,753 1,038 26,811 1,057 Interest income: Cash basis of accounting $ 104 115 323 314 Other (1) 237 241 715 743 Total interest income $ 341 356 1,038 1,057 (1) Includes interest recognized on accruing TDRs, interest recognized related to certain impaired loans which have an allowance calculated using discounting, and amortization of purchase accounting adjustments related to certain impaired loans. TROUBLED DEBT RESTRUCTURINGS (TDRs) When, for economic or legal reasons related to a borrower’s financial difficulties, we grant a concession for other than an insignificant period of time to a borrower that we would not otherwise consider, the related loan is classified as a TDR. We do not consider any loans modified through a loan resolution such as foreclosure or short sale to be a TDR. We may require some consumer borrowers experiencing financial difficulty to make trial payments generally for a period of three to four months, according to the terms of a planned permanent modification, to determine if they can perform according to those terms. These arrangements represent trial modifications, which we classify and account for as TDRs. While loans are in trial payment programs, their original terms are not considered modified and they continue to advance through delinquency st |
Other Assets
Other Assets | 9 Months Ended |
Sep. 30, 2015 | |
Other Assets [Abstract] | |
Other Assets | Note 6: Other Assets The components of other assets were: (in millions) Sep 30, Dec 31, Nonmarketable equity investments: Cost method: Private equity and other (1) $ 2,389 2,300 Federal bank stock 4,397 4,733 Total cost method 6,786 7,033 Equity method: LIHTC investments (2) 7,959 7,278 Private equity and other 4,840 5,132 Total equity method 12,799 12,410 Fair value (3) 2,745 2,512 Total nonmarketable equity investments 22,330 21,955 Corporate/bank-owned life insurance 19,165 18,982 Accounts receivable (4) 27,441 27,151 Interest receivable 5,244 4,871 Core deposit intangibles 2,794 3,561 Customer relationship and other amortized intangibles 671 857 Foreclosed assets: Residential real estate: Government insured/guaranteed (4) 502 982 Non-government insured/guaranteed 499 671 Non-residential real estate 766 956 Operating lease assets 3,448 2,714 Due from customers on acceptances 317 201 Other (5) 15,531 16,156 Total other assets $ 98,708 99,057 (1) Reflects auction rate perpetual preferred equity securities that were reclassified at the beginning of second quarter 2015 with a cost basis of $689 million (fair value of $640 million ) from available-for-sale securities because they do not trade on a qualified exchange. (2) Represents low income housing tax credit investments. (3) Represents nonmarketable equity investments for which we have elected the fair value option. See Note 13 (Fair Values of Assets and Liabilities) for additional information. (4) Certain government-guaranteed residential real estate mortgage loans upon foreclosure are included in Accounts receivable effective January 1, 2014. Both principal and interest related to these foreclosed real estate assets are collectible because the loans were predominantly insured by the FHA or guaranteed by the VA. For more information on ASU 2014-14 and the classification of certain government-guaranteed mortgage loans upon foreclosure, see Note 1 (Summary of Significant Accounting Policies) to Financial Statements in our 2014 10-K. (5) Includes derivatives designated as hedging instruments, derivatives not designated as hedging instruments, and derivative loan commitments, which are carried at fair value. See Note 12 (Derivatives) for additional information. Income (expense) related to nonmarketable equity investments was: Quarter ended September 30, Nine months ended September 30, (in millions) 2015 2014 2015 2014 Net realized gains from nonmarketable equity investments $ 632 309 1,462 1,241 All other (161 ) (160 ) (587 ) (592 ) Total $ 471 149 875 649 Low Income Housing Tax Credit Investments We invest in affordable housing projects that qualify for the low income housing tax credit, which is designed to promote private development of low income housing. These investments generate a return primarily through realization of federal tax credits. Total low income housing tax credit (LIHTC) investments were $8.0 billion and $7.3 billion at September 30, 2015 and December 31, 2014 , respectively. In third quarter and first nine months of 2015 we recognized pre-tax losses of $173 million and $529 million , respectively, related to our LIHTC investments. We also recognized total tax benefits of $269 million and $819 million , in the third quarter and first nine months of 2015 , respectively, which included tax credits of $203 million and $619 million for the same periods, recorded in income taxes. We are periodically required to provide additional financial support during the investment period. Our liability for these unfunded commitments was $2.8 billion at September 30, 2015 , of which predominantly all is expected to be paid over the next three years. This liability is included in long-term debt. |
Securitizations and Variable In
Securitizations and Variable Interest Entities | 9 Months Ended |
Sep. 30, 2015 | |
Securitizations and Variable Interest Entities [Abstract] | |
Securitizations and Variable Interest Entities | Note 7: Securitizations and Variable Interest Entities Involvement with SPEs In the normal course of business, we enter into various types of on- and off-balance sheet transactions with special purpose entities (SPEs), which are corporations, trusts or partnerships that are established for a limited purpose. Generally, SPEs are formed in connection with securitization transactions and are considered variable interest entities (VIEs). For further description of our involvement with SPEs, see Note 8 (Securitizations and Variable Interest Entities) to Financial Statements in our 2014 Form 10-K. We have segregated our involvement with VIEs between those VIEs which we consolidate, those which we do not consolidate and those for which we account for the transfers of financial assets as secured borrowings. Secured borrowings are transactions involving transfers of our financial assets to third parties that are accounted for as financings with the assets pledged as collateral. Accordingly, the transferred assets remain recognized on our balance sheet. Subsequent tables within this Note further segregate these transactions by structure type. The following table provides the classifications of assets and liabilities in our balance sheet for our transactions with VIEs. (in millions) VIEs that we do not consolidate VIEs that we consolidate Transfers that we account for as secured borrowings Total September 30, 2015 Cash $ — 149 — 149 Trading assets 1,505 1 203 1,709 Investment securities (1) 13,757 530 2,500 16,787 Loans 10,368 4,991 4,562 19,921 Mortgage servicing rights 11,827 — — 11,827 Other assets 8,599 279 29 8,907 Total assets 46,056 5,950 7,294 59,300 Short-term borrowings — — 1,909 1,909 Accrued expenses and other liabilities 798 61 (2) 1 860 Long-term debt 2,810 1,386 (2) 4,458 8,654 Total liabilities 3,608 1,447 6,368 11,423 Noncontrolling interests — 99 — 99 Net assets $ 42,448 4,404 926 47,778 December 31, 2014 Cash $ — 117 4 121 Trading assets 2,165 — 204 2,369 Investment securities (1) 18,271 875 4,592 23,738 Loans 13,195 4,509 5,280 22,984 Mortgage servicing rights 12,562 — — 12,562 Other assets 7,456 316 52 7,824 Total assets 53,649 5,817 10,132 69,598 Short-term borrowings — — 3,141 3,141 Accrued expenses and other liabilities 848 49 (2) 1 898 Long-term debt 2,585 1,628 (2) 4,990 9,203 Total liabilities 3,433 1,677 8,132 13,242 Noncontrolling interests — 103 — 103 Net assets $ 50,216 4,037 2,000 56,253 (1) Excludes certain debt securities related to loans serviced for the Federal National Mortgage Association (FNMA), Federal Home Loan Mortgage Corporation (FHLMC) and GNMA. (2) There were no VIE liabilities with recourse to the general credit of Wells Fargo for the periods presented. Transactions with Unconsolidated VIEs Our transactions with VIEs include securitizations of residential mortgage loans, CRE loans, student loans, auto loans and leases and dealer floorplan loans; investment and financing activities involving collateralized debt obligations (CDOs) backed by asset-backed and CRE securities, collateralized loan obligations (CLOs) backed by corporate loans, and other types of structured financing. We have various forms of involvement with VIEs, including servicing, holding senior or subordinated interests, entering into liquidity arrangements, credit default swaps and other derivative contracts. Involvements with these unconsolidated VIEs are recorded on our balance sheet primarily in trading assets, investment securities, loans, MSRs, other assets and other liabilities, as appropriate. The following tables provide a summary of unconsolidated VIEs with which we have significant continuing involvement, but we are not the primary beneficiary. We do not consider our continuing involvement in an unconsolidated VIE to be significant when it relates to third-party sponsored VIEs for which we were not the transferor (unless we are servicer and have other significant forms of involvement) or if we were the sponsor only or sponsor and servicer but do not have any other forms of significant involvement. Significant continuing involvement includes transactions where we were the sponsor or transferor and have other significant forms of involvement. Sponsorship includes transactions with unconsolidated VIEs where we solely or materially participated in the initial design or structuring of the entity or marketing of the transaction to investors. When we transfer assets to a VIE and account for the transfer as a sale, we are considered the transferor. We consider investments in securities (other than those held temporarily in trading), loans, guarantees, liquidity agreements, written options and servicing of collateral to be other forms of involvement that may be significant. We have excluded certain transactions with unconsolidated VIEs from the balances presented in the following table where we have determined that our continuing involvement is not significant due to the temporary nature and size of our variable interests, because we were not the transferor or because we were not involved in the design of the unconsolidated VIEs. We also exclude from the table secured borrowing transactions with unconsolidated VIEs (for information on these transactions, see the Transactions with Consolidated VIEs and Secured Borrowings section in this Note). Carrying value - asset (liability) (in millions) Total VIE assets Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Net assets September 30, 2015 Residential mortgage loan securitizations: Conforming (2) $ 1,211,810 2,622 10,975 — (544 ) 13,053 Other/nonconforming 26,583 1,362 154 — (5 ) 1,511 Commercial mortgage securitizations 189,175 6,939 698 256 (25 ) 7,868 Collateralized debt obligations: Debt securities 4,312 4 — 81 (60 ) 25 Loans (3) 3,868 3,761 — — — 3,761 Asset-based finance structures 14,027 9,547 — (68 ) — 9,479 Tax credit structures 24,487 8,632 — — (2,810 ) 5,822 Collateralized loan obligations 1,323 384 — — — 384 Investment funds 1,367 44 — — — 44 Other (4) 12,272 573 — (46 ) (26 ) 501 Total $ 1,489,224 33,868 11,827 223 (3,470 ) 42,448 Maximum exposure to loss Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Total exposure Residential mortgage loan securitizations: Conforming $ 2,622 10,975 — 2,065 15,662 Other/nonconforming 1,362 154 — 347 1,863 Commercial mortgage securitizations 6,939 698 256 6,576 14,469 Collateralized debt obligations: Debt securities 4 — 81 60 145 Loans (3) 3,761 — — — 3,761 Asset-based finance structures 9,547 — 81 444 10,072 Tax credit structures 8,632 — — 790 9,422 Collateralized loan obligations 384 — — — 384 Investment funds 44 — — — 44 Other (4) 573 — 119 176 868 Total $ 33,868 11,827 537 10,458 56,690 (continued on following page) (continued from previous page) Carrying value - asset (liability) (in millions) Total VIE assets Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Net assets December 31, 2014 Residential mortgage loan securitizations: Conforming (2) $ 1,268,200 2,846 11,684 — (581 ) 13,949 Other/nonconforming 32,213 1,644 209 — (8 ) 1,845 Commercial mortgage securitizations 196,510 8,756 650 251 (32 ) 9,625 Collateralized debt obligations: Debt securities 5,039 11 — 163 (105 ) 69 Loans (3) 5,347 5,221 — — — 5,221 Asset-based finance structures 18,954 13,044 — (71 ) — 12,973 Tax credit structures 22,859 7,809 — — (2,585 ) 5,224 Collateralized loan obligations 1,251 518 — — — 518 Investment funds 2,764 49 — — — 49 Other (4) 12,912 747 19 (18 ) (5 ) 743 Total $ 1,566,049 40,645 12,562 325 (3,316 ) 50,216 Maximum exposure to loss Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Total exposure Residential mortgage loan securitizations: Conforming $ 2,846 11,684 — 2,507 17,037 Other/nonconforming 1,644 209 — 345 2,198 Commercial mortgage securitizations 8,756 650 251 5,715 15,372 Collateralized debt obligations: Debt securities 11 — 163 105 279 Loans (3) 5,221 — — — 5,221 Asset-based finance structures 13,044 — 89 656 13,789 Tax credit structures 7,809 — — 725 8,534 Collateralized loan obligations 518 — — 38 556 Investment funds 49 — — — 49 Other (4) 747 19 150 156 1,072 Total $ 40,645 12,562 653 10,247 64,107 (1) Includes total equity interests of $8.6 billion and $8.1 billion at September 30, 2015 , and December 31, 2014 , respectively. Also includes debt interests in the form of both loans and securities. Excludes certain debt securities held related to loans serviced for FNMA, FHLMC and GNMA. (2) Excludes assets and related liabilities with a recorded carrying value on our balance sheet of $1.3 billion and $1.7 billion at September 30, 2015 , and December 31, 2014 , respectively, for certain delinquent loans that are eligible for repurchase primarily from GNMA loan securitizations. The recorded carrying value represents the amount that would be payable if the Company was to exercise the repurchase option. The carrying amounts are excluded from the table because the loans eligible for repurchase do not represent interests in the VIEs. (3) Represents senior loans to trusts that are collateralized by asset-backed securities. The trusts invest primarily in senior tranches from a diversified pool of primarily U.S. asset securitizations, of which all are current and 73% and 70% were rated as investment grade by the primary rating agencies at September 30, 2015 , and December 31, 2014 , respectively. These senior loans are accounted for at amortized cost and are subject to the Company’s allowance and credit charge-off policies. (4) Includes structured financing and credit-linked note structures. Also contains investments in auction rate securities (ARS) issued by VIEs that we do not sponsor and, accordingly, are unable to obtain the total assets of the entity. In the two preceding tables, “Total VIE assets” represents the remaining principal balance of assets held by unconsolidated VIEs using the most current information available. For VIEs that obtain exposure to assets synthetically through derivative instruments, the remaining notional amount of the derivative is included in the asset balance. “Carrying value” is the amount in our consolidated balance sheet related to our involvement with the unconsolidated VIEs. “Maximum exposure to loss” from our involvement with off-balance sheet entities, which is a required disclosure under GAAP, is determined as the carrying value of our involvement with off-balance sheet (unconsolidated) VIEs plus the remaining undrawn liquidity and lending commitments, the notional amount of net written derivative contracts, and generally the notional amount of, or stressed loss estimate for, other commitments and guarantees. It represents estimated loss that would be incurred under severe, hypothetical circumstances, for which we believe the possibility is extremely remote, such as where the value of our interests and any associated collateral declines to zero, without any consideration of recovery or offset from any economic hedges. Accordingly, this required disclosure is not an indication of expected loss. For complete descriptions of our types of transactions with unconsolidated VIEs with which we have a significant continuing involvement, but we are not the primary beneficiary, see Note 8 (Securitizations and Variable Interest Entities) to Financial Statements in our 2014 Form 10-K. OTHER TRANSACTIONS WITH VIEs Auction rate securities (ARS) are debt instruments with long-term maturities, which re-price more frequently, and preferred equities with no maturity. At September 30, 2015 , we held $521 million of ARS issued by VIEs compared with $567 million at December 31, 2014 . We acquired the ARS pursuant to agreements entered into in 2008 and 2009. We do not consolidate the VIEs that issued the ARS because we do not have power over the activities of the VIEs. TRUST PREFERRED SECURITIES VIEs that we wholly own issue debt securities or preferred equity to third party investors. All of the proceeds of the issuance are invested in debt securities or preferred equity that we issue to the VIEs. The VIEs’ operations and cash flows relate only to the issuance, administration and repayment of the securities held by third parties. We do not consolidate these VIEs because the sole assets of the VIEs are receivables from us, even though we own all of the voting equity shares of the VIEs, have fully guaranteed the obligations of the VIEs and may have the right to redeem the third party securities under certain circumstances. In our consolidated balance sheet at September 30, 2015 , and December 31, 2014 , we reported the debt securities issued to the VIEs as long-term junior subordinated debt with a carrying value of $2.2 billion and $2.1 billion , respectively, and the preferred equity securities issued to the VIEs as preferred stock with a carrying value of $2.5 billion at both dates. These amounts are in addition to the involvements in these VIEs included in the preceding table. Loan Sales and Securitization Activity We periodically transfer consumer and CRE loans and other types of financial assets in securitization and whole loan sale transactions. We typically retain the servicing rights from these sales and may continue to hold other beneficial interests in the transferred financial assets. We may also provide liquidity to investors in the beneficial interests and credit enhancements in the form of standby letters of credit. Through these transfers we may be exposed to liability under limited amounts of recourse as well as standard representations and warranties we make to purchasers and issuers. The following table presents the cash flows for our transfers accounted for as sales. 2015 2014 (in millions) Mortgage loans Other financial assets Mortgage loans Other financial assets Quarter ended September 30, Proceeds from securitizations and whole loan sales $ 52,733 192 45,466 — Fees from servicing rights retained 902 1 980 2 Cash flows from other interests held (1) 328 10 470 19 Repurchases of assets/loss reimbursements (2): Non-agency securitizations and whole loan transactions 3 — 2 — Agency securitizations (3) 72 — 87 — Servicing advances, net of repayments (88 ) — (21 ) — Nine months ended September 30, Proceeds from securitizations and whole loan sales $ 153,626 373 122,910 — Fees from servicing rights retained 2,760 5 2,987 6 Cash flows from other interests held (1) 942 33 1,132 58 Repurchases of assets/loss reimbursements (2): Non-agency securitizations and whole loan transactions 10 — 5 — Agency securitizations (3) 210 — 256 — Servicing advances, net of repayments (342 ) — (156 ) — (1) Cash flows from other interests held include principal and interest payments received on retained bonds and excess cash flows received on interest-only strips. (2) Consists of cash paid to repurchase loans from investors and cash paid to investors to reimburse them for losses on individual loans that are already liquidated. In addition, during the third quarter and first nine months of 2014 , we paid $0 million and $78 million , respectively, to third-party investors to settle repurchase liabilities on pools of loans. There were no loan pool settlements in the third quarter and first nine months of 2015 . (3) Represent loans repurchased from GNMA, FNMA, and FHLMC under representation and warranty provisions included in our loan sales contracts. Third quarter and first nine months of 2015 exclude $2.2 billion and $ 8.2 billion , respectively, in delinquent insured/guaranteed loans that we service and have exercised our option to purchase out of GNMA pools, compared with $3.2 billion and $ 10.1 billion , respectively, in the same periods of 2014 . These loans are predominantly insured by the FHA or guaranteed by the VA. In the third quarter and first nine months of 2015 , we recognized net gains of $88 million and $404 million , respectively, from transfers accounted for as sales of financial assets, compared with $55 million and $152 million , respectively, in the same periods of 2014 . These net gains primarily relate to commercial mortgage securitizations and residential mortgage securitizations where the loans were not already carried at fair value. Sales with continuing involvement during the third quarter and first nine months of 2015 and 2014 predominantly related to securitizations of residential mortgages that are sold to the government-sponsored entities (GSEs), including FNMA, FHLMC and GNMA (conforming residential mortgage securitizations). During the third quarter and first nine months of 2015 , we transferred $50.2 billion and $143.1 billion , respectively, in fair value of residential mortgages to unconsolidated VIEs and third-party investors and recorded the transfers as sales, compared with $40.9 billion and $111.4 billion , respectively, in the same periods of 2014 . Substantially all of these transfers did not result in a gain or loss because the loans were already carried at fair value. In connection with all of these transfers, in the first nine months of 2015 we recorded a $1.2 billion servicing asset, measured at fair value using a Level 3 measurement technique, securities of $787 million , classified as Level 2, and a $34 million liability for repurchase losses which reflects management’s estimate of probable losses related to various representations and warranties for the loans transferred, initially measured at fair value. In the first nine months of 2014 , we recorded a $900 million servicing asset and a $34 million liability. The following table presents the key weighted-average assumptions we used to measure residential mortgage servicing rights at the date of securitization. Residential mortgage servicing rights 2015 2014 Quarter ended September 30, Prepayment speed (1) 11.5 % 12.1 Discount rate 7.1 7.7 Cost to service ($ per loan) (2) $ 223 267 Nine months ended September 30, Prepayment speed (1) 12.1 % 12.4 Discount rate 7.4 7.6 Cost to service ($ per loan) (2) $ 232 268 (1) The prepayment speed assumption for residential mortgage servicing rights includes a blend of prepayment speeds and default rates. Prepayment speed assumptions are influenced by mortgage interest rate inputs as well as our estimation of drivers of borrower behavior. (2) Includes costs to service and unreimbursed foreclosure costs, which can vary period to period depending on the mix of modified government-guaranteed loans sold to GNMA. During the third quarter and first nine months of 2015 , we transferred $3.0 billion and $12.5 billion , respectively, in carrying value of commercial mortgages to unconsolidated VIEs and third-party investors and recorded the transfers as sales, compared with $2.2 billion and $4.5 billion in the same periods of 2014 , respectively. These transfers resulted in gains of $63 million and $263 million in the third quarter and first nine months of 2015 , respectively, because the loans were carried at lower of cost or market value (LOCOM), compared with gains of $30 million and $71 million in the third quarter and first nine months of 2014 . In connection with these transfers, in the first nine months of 2015 we recorded a servicing asset of $131 million , initially measured at fair value using a Level 3 measurement technique, and securities of $209 million , classified as Level 2. In the first nine months of 2014 , we recorded a servicing asset of $12 million , using a Level 3 measurement technique, and securities of $100 million , classified as Level 2. Retained Interests from Unconsolidated VIEs The following table provides key economic assumptions and the sensitivity of the current fair value of residential mortgage servicing rights and other interests held to immediate adverse changes in those assumptions. “Other interests held” relate predominantly to residential and commercial mortgage loan securitizations. Residential mortgage-backed securities retained in securitizations issued through GSEs, such as FNMA, FHLMC and GNMA, are excluded from the table because these securities have a remote risk of credit loss due to the GSE guarantee. These securities also have economic characteristics similar to GSE mortgage-backed securities that we purchase, which are not included in the table. Subordinated interests include only those bonds whose credit rating was below AAA by a major rating agency at issuance. Senior interests include only those bonds whose credit rating was AAA by a major rating agency at issuance. The information presented excludes trading positions held in inventory. Other interests held Residential mortgage servicing rights (1) Interest-only strips Consumer Commercial (2) ($ in millions, except cost to service amounts) Subordinated bonds Subordinated bonds Senior bonds Fair value of interests held at September 30, 2015 $ 11,778 35 1 349 634 Expected weighted-average life (in years) 5.6 3.6 11.7 2.0 5.6 Key economic assumptions: Prepayment speed assumption (3) 12.4 % 19.2 15.5 Decrease in fair value from: 10% adverse change $ 680 1 — 25% adverse change 1,614 3 — Discount rate assumption 7.0 % 13.4 10.7 4.2 2.5 Decrease in fair value from: 100 basis point increase $ 574 1 — 6 30 200 basis point increase 1,097 1 — 12 59 Cost to service assumption ($ per loan) 165 Decrease in fair value from: 10% adverse change 570 25% adverse change 1,426 Credit loss assumption 1.1 % 2.9 — Decrease in fair value from: 10% higher losses $ — 1 — 25% higher losses — 6 — Fair value of interests held at December 31, 2014 $ 12,738 117 36 294 546 Expected weighted-average life (in years) 5.7 3.9 5.5 2.9 6.2 Key economic assumptions: Prepayment speed assumption (3) 12.5 % 11.4 7.1 Decrease in fair value from: 10% adverse change $ 738 2 — 25% adverse change 1,754 6 — Discount rate assumption 7.6 % 18.7 3.9 4.7 2.8 Decrease in fair value from: 100 basis point increase $ 617 2 2 8 29 200 basis point increase 1,178 4 3 15 55 Cost to service assumption ($ per loan) 179 Decrease in fair value from: 10% adverse change 579 25% adverse change 1,433 Credit loss assumption 0.4 % 4.1 — Decrease in fair value from: 10% higher losses $ — 3 — 25% higher losses — 10 — (1) See narrative following this table for a discussion of commercial mortgage servicing rights. (2) Prepayment speed assumptions do not significantly impact the value of commercial mortgage securitization bonds as the underlying commercial mortgage loans experience significantly lower prepayments due to certain contractual restrictions, impacting the borrower’s ability to prepay the mortgage. (3) The prepayment speed assumption for residential mortgage servicing rights includes a blend of prepayment speeds and default rates. Prepayment speed assumptions are influenced by mortgage interest rate inputs as well as our estimation of drivers of borrower behavior. In addition to residential mortgage servicing rights (MSRs) included in the previous table, we have a small portfolio of commercial MSRs with a fair value of $1.6 billion at both September 30, 2015 , and December 31, 2014 . The nature of our commercial MSRs, which are carried at LOCOM, is different from our residential MSRs. Prepayment activity on serviced loans does not significantly impact the value of commercial MSRs because, unlike residential mortgages, commercial mortgages experience significantly lower prepayments due to certain contractual restrictions, impacting the borrower’s ability to prepay the mortgage. Additionally, for our commercial MSR portfolio, we are typically master/primary servicer, but not the special servicer, who is separately responsible for the servicing and workout of delinquent and foreclosed loans. It is the special servicer, similar to our role as servicer of residential mortgage loans, who is affected by higher servicing and foreclosure costs due to an increase in delinquent and foreclosed loans. Accordingly, prepayment speeds and costs to service are not key assumptions for commercial MSRs as they do not significantly impact the valuation. The primary economic driver impacting the fair value of our commercial MSRs is forward interest rates, which are derived from market observable yield curves used to price capital markets instruments. Market interest rates most significantly affect interest earned on custodial deposit balances. The sensitivity of the current fair value to an immediate adverse 25% change in the assumption about interest earned on deposit balances at September 30, 2015 , and December 31, 2014 , results in a decrease in fair value of $171 million and $185 million , respectively. See Note 8 (Mortgage Banking Activities) for further information on our commercial MSRs. We also have a loan to an unconsolidated third party VIE that we extended in fourth quarter 2014 in conjunction with our sale of government guaranteed student loans. The loan is carried at amortized cost and approximates fair value at September 30, 2015 , and December 31, 2014 . The carrying amount of the loan at September 30, 2015 , and December 31, 2014 , was $5.1 billion and $6.5 billion , respectively. The estimated fair value of the loan is considered a Level 3 measurement that is determined using discounted cash flows that are based on changes in the discount rate due to changes in the risk premium component (credit spreads). The primary economic assumption impacting the fair value of our loan is the discount rate. Changes in the credit loss assumption are not expected to affect the estimated fair value of the loan due to the government guarantee of the underlying collateral. The sensitivity of the current fair value to an immediate adverse increase of 200 basis points in the risk premium component of the discount rate assumption is a decrease in fair value of $82 million and $130 million at September 30, 2015 , and December 31, 2014 , respectively. The sensitivities in the preceding paragraphs and table are hypothetical and caution should be exercised when relying on this data. Changes in value based on variations in assumptions generally cannot be extrapolated because the relationship of the change in the assumption to the change in value may not be linear. Also, the effect of a variation in a particular assumption on the value of the other interests held is calculated independently without changing any other assumptions. In reality, changes in one factor may result in changes in others (for example, changes in prepayment speed estimates could result in changes in the credit losses), which might magnify or counteract the sensitivities. Off-Balance Sheet Loans The following table presents information about the principal balances of off-balance sheet loans that were sold or securitized, including residential mortgage loans sold to FNMA, FHLMC, GNMA and other investors, for which we have some form of continuing involvement (primarily servicer). Delinquent loans include loans 90 days or more past due and loans in bankruptcy, regardless of delinquency status. For loans sold or securitized where servicing is our only form of continuing involvement, we would only experience a loss if we were required to repurchase a delinquent loan or foreclosed asset due to a breach in representations and warranties associated with our loan sale or servicing contracts. Net charge-offs Total loans Delinquent loans and foreclosed assets (1) Nine months ended September 30, (in millions) Sep 30, 2015 Dec 31, 2014 Sep 30, 2015 Dec 31, 2014 2015 2014 Commercial: Real estate mortgage $ 111,221 114,081 6,905 7,949 301 582 Total commercial 111,221 114,081 6,905 7,949 301 582 Consumer: Real estate 1-4 family first mortgage (2) 1,253,022 1,322,136 22,182 28,639 678 971 Real estate 1-4 family junior lien mortgage — 1 — — — — Other revolving credit and installment — 1,599 — 75 — 1 Total consumer 1,253,022 1,323,736 22,182 28,714 678 972 Total off-balance sheet sold or securitized loans (3) $ 1,364,243 1,437,817 29,087 36,663 979 1,554 (1) Includes $5.2 billion and $3.3 billion of commercial foreclosed assets and $2.4 billion and $2.7 billion of consumer foreclosed assets at September 30, 2015 , and December 31, 2014 , respectively. (2) Net charge-offs in the prior period have been revised to include net charge-offs on whole loan sales and transferred assets in foreclosure status for which we have risk of loss. (3) At September 30, 2015 , and December 31, 2014 , the table includes total loans of $1.2 trillion and 1.3 trillion , delinquent loans of $12.2 billion and $16.5 billion , and foreclosed assets of $1.8 billion and $2.4 billion , respectively, for FNMA, FHLMC and GNMA. Net charge-offs exclude loans sold to FNMA, FHLMC and GNMA as we do not service or manage the underlying real estate upon foreclosure and, as such, do not have access to net charge-off information. Transactions with Consolidated VIEs and Secured Borrowings The following table presents a summary of financial assets and liabilities for asset transfers accounted for as secured borrowings and involvements with consolidated VIEs. “Assets” are presented using GAAP measurement methods, which may include fair value, credit impairment or other adjustments, and therefore in some instances will differ from “Total VIE assets.” For VIEs that obtain exposure synthetically through derivative instruments, the remaining notional amount of the derivative is included in “Total VIE assets.” On the consolidated balance sheet, we separately disclose the consolidated assets of certain VIEs that can only be used to settle the liabilities of those VIEs. Carrying value (in millions) Total VIE assets Assets Liabilities Noncontrolling interests Net assets September 30, 2015 Secured borrowings: Municipal tender option bond securitizations $ 3,170 2,732 (1,910 ) — 822 Commercial real estate loans — — — — — Residential mortgage securitizations 4,368 4,562 (4,458 ) — 104 Total secured borrowings 7,538 7,294 (6,368 ) — 926 Consolidated VIEs: Nonconforming residential mortgage loan securitizations 4,346 3,844 (1,302 ) — 2,542 Commercial real estate loans 1,177 1,177 — — 1,177 Structured asset finance 84 45 (42 ) — 3 Investment funds 581 581 (1 ) — 580 Other 345 303 (102 ) (99 ) 102 Total consolidated VIEs 6,533 5,950 (1,447 ) (99 ) 4,404 Total secured borrowings and consolidated VIEs $ 14,071 13,244 (7,815 ) (99 ) 5,330 December 31, 2014 Secured borrowings: Municipal tender option bond securitizations $ 5,422 4,837 (3,143 ) — 1,694 Commercial real estate loans 250 250 (63 ) — 187 Residential mortgage securitizations 4,804 5,045 (4,926 ) — 119 Total secured borrowings 10,476 10,132 (8,132 ) — 2,000 Consolidated VIEs: Nonconforming residential mortgage loan securitizations 5,041 4,491 (1,509 ) — 2,982 Structured asset finance 47 47 (23 ) — 24 Investment funds 904 904 (2 ) — 902 Other 431 375 (143 ) (103 ) 129 Total consolidated VIEs 6,423 5,817 (1,677 ) (103 ) 4,037 Total secured borrowings and consolidated VIEs $ 16,899 15,949 (9,809 ) (103 ) 6,037 In addition to the structure types included in the previous table, at both September 30, 2015 , and December 31, 2014 , we had approximately $6.0 billion of private placement debt financing issued through a consolidated VIE. The issuance is classified as long-term debt in our consolidated financial statements. At September 30, 2015 , we pledged approximately $563 million in loans (principal and interest eligible to be capitalized) and $5.9 billion in available-for-sale securities to collateralize the VIE’s borrowings, compared with $637 million and $5.7 billion , respectively, at December 31, 2014 . These assets were not transferred to the VIE, and accordingly we have excluded the VIE from the previous table. For complete descriptions of our accounting for transfers accounted for as secured borrowings and involvements with consolidated VIEs, see Note 8 (Securitizations and Variable Interest Entities) to Financial Statements in our 2014 Form 10-K. |
Mortgage Banking Activities
Mortgage Banking Activities | 9 Months Ended |
Sep. 30, 2015 | |
Mortgage Banking Activities [Abstract] | |
Mortgage Banking Activities | Note 8: Mortgage Banking Activities Mortgage banking activities, included in the Community Banking and Wholesale Banking operating segments, consist of residential and commercial mortgage originations, sale activity and servicing. We apply the amortization method to commercial MSRs and apply the fair value method to residential MSRs. The changes in MSRs measured using the fair value method were: Quarter ended Sep 30, Nine months ended Sep 30, (in millions) 2015 2014 2015 2014 Fair value, beginning of period $ 12,661 13,900 12,738 15,580 Servicing from securitizations or asset transfers 448 340 1,184 900 Sales and other (1) 6 — — — Net additions 454 340 1,184 900 Changes in fair value: Due to changes in valuation model inputs or assumptions: Mortgage interest rates (2) (858 ) 251 (313 ) (1,134 ) Servicing and foreclosure costs (3) (18 ) (4 ) (46 ) (15 ) Discount rates (4) — — — (55 ) Prepayment estimates and other (5) 43 6 (194 ) 181 Net changes in valuation model inputs or assumptions (833 ) 253 (553 ) (1,023 ) Other changes in fair value (6) (504 ) (462 ) (1,591 ) (1,426 ) Total changes in fair value (1,337 ) (209 ) (2,144 ) (2,449 ) Fair value, end of period $ 11,778 14,031 11,778 14,031 (1) Includes sales and transfers of MSRs, which can result in an increase of total reported MSRs if the sales or transfers are related to nonperforming loan portfolios. (2) Includes prepayment speed changes as well as other valuation changes due to changes in mortgage interest rates (such as changes in estimated interest earned on custodial deposit balances). (3) Includes costs to service and unreimbursed foreclosure costs. (4) Reflects discount rate assumption change, excluding portion attributable to changes in mortgage interest rates. (5) Represents changes driven by other valuation model inputs or assumptions including prepayment speed estimation changes and other assumption updates. Prepayment speed estimation changes are influenced by observed changes in borrower behavior and other external factors that occur independent of interest rate changes. (6) Represents changes due to collection/realization of expected cash flows over time. The changes in amortized MSRs were: Quarter ended Sep 30, Nine months ended Sep 30, (in millions) 2015 2014 2015 2014 Balance, beginning of period $ 1,262 1,196 1,242 1,229 Purchases 45 47 96 119 Servicing from securitizations or asset transfers 35 29 131 67 Amortization (65 ) (48 ) (192 ) (191 ) Balance, end of period (1) $ 1,277 1,224 1,277 1,224 Fair value of amortized MSRs: Beginning of period $ 1,692 1,577 1,637 1,575 End of period 1,643 1,647 1,643 1,647 (1) Commercial amortized MSRs are evaluated for impairment purposes by the following risk strata: agency (GSEs) and non-agency. There was no valuation allowance recorded for the periods presented on the commercial amortized MSRs. We present the components of our managed servicing portfolio in the following table at unpaid principal balance for loans serviced and subserviced for others and at book value for owned loans serviced. (in billions) Sep 30, 2015 Dec 31, 2014 Residential mortgage servicing: Serviced for others $ 1,323 1,405 Owned loans serviced 346 342 Subserviced for others 4 5 Total residential servicing 1,673 1,752 Commercial mortgage servicing: Serviced for others 470 456 Owned loans serviced 121 112 Subserviced for others 7 7 Total commercial servicing 598 575 Total managed servicing portfolio $ 2,271 2,327 Total serviced for others $ 1,793 1,861 Ratio of MSRs to related loans serviced for others 0.73 % 0.75 The components of mortgage banking noninterest income were: Quarter ended Sep 30, Nine months ended Sep 30, (in millions) 2015 2014 2015 2014 Servicing income, net: Servicing fees: Contractually specified servicing fees $ 1,001 1,058 3,029 3,217 Late charges 48 49 147 153 Ancillary fees 69 74 221 241 Unreimbursed direct servicing costs (1) (128 ) (262 ) (371 ) (494 ) Net servicing fees 990 919 3,026 3,117 Changes in fair value of MSRs carried at fair value: Due to changes in valuation model inputs or assumptions (2) (A) (833 ) 253 (553 ) (1,023 ) Other changes in fair value (3) (504 ) (462 ) (1,591 ) (1,426 ) Total changes in fair value of MSRs carried at fair value (1,337 ) (209 ) (2,144 ) (2,449 ) Amortization (65 ) (48 ) (192 ) (191 ) Net derivative gains from economic hedges (4) (B) 1,086 17 1,021 2,175 Total servicing income, net 674 679 1,711 2,652 Net gains on mortgage loan origination/sales activities 915 954 3,130 2,214 Total mortgage banking noninterest income $ 1,589 1,633 4,841 4,866 Market-related valuation changes to MSRs, net of hedge results (2)(4) (A)+(B) $ 253 270 468 1,152 (1) Primarily associated with foreclosure expenses and unreimbursed interest advances to investors. (2) Refer to the changes in fair value of MSRs table in this Note for more detail. (3) Represents changes due to collection/realization of expected cash flows over time. (4) Represents results from economic hedges used to hedge the risk of changes in fair value of MSRs. See Note 12 (Derivatives Not Designated as Hedging Instruments) for additional discussion and detail. The table below summarizes the changes in our liability for mortgage loan repurchase losses. This liability is in “Accrued expenses and other liabilities” in our consolidated balance sheet and the provision for repurchase losses reduces net gains on mortgage loan origination/sales activities in “Mortgage banking” in our consolidated income statement. Because of the uncertainty in the various estimates underlying the mortgage repurchase liability, there is a range of losses in excess of the recorded mortgage repurchase liability that is reasonably possible. The estimate of the range of possible loss for representations and warranties does not represent a probable loss, and is based on currently available information, significant judgment, and a number of assumptions that are subject to change. The high end of this range of reasonably possible losses was $928 million in excess of our recorded liability at September 30, 2015 , and was determined based upon modifying the assumptions (particularly to assume significant changes in investor repurchase demand practices) used in our best estimate of probable loss to reflect what we believe to be the high end of reasonably possible adverse assumptions. Quarter ended Sep 30, Nine months ended Sep 30, (in millions) 2015 2014 2015 2014 Balance, beginning of period $ 557 766 615 899 Provision for repurchase losses: Loan sales 11 12 34 34 Change in estimate (1) (17 ) (93 ) (74 ) (135 ) Net additions (reductions) (6 ) (81 ) (40 ) (101 ) Losses (13 ) (16 ) (37 ) (129 ) Balance, end of period $ 538 669 538 669 (1) Results from changes in investor demand, mortgage insurer practices, credit and the financial stability of correspondent lenders. |
Intangible Assets
Intangible Assets | 9 Months Ended |
Sep. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | Note 9: Intangible Assets The gross carrying value of intangible assets and accumulated amortization was: September 30, 2015 December 31, 2014 (in millions) Gross carrying value Accumulated amortization Net carrying value Gross carrying value Accumulated amortization Net carrying value Amortized intangible assets (1): MSRs (2) $ 3,130 (1,853 ) 1,277 2,906 (1,664 ) 1,242 Core deposit intangibles 12,834 (10,040 ) 2,794 12,834 (9,273 ) 3,561 Customer relationship and other intangibles 3,163 (2,492 ) 671 3,179 (2,322 ) 857 Total amortized intangible assets $ 19,127 (14,385 ) 4,742 18,919 (13,259 ) 5,660 Unamortized intangible assets: MSRs (carried at fair value) (2) $ 11,778 12,738 Goodwill 25,684 25,705 Trademark 14 14 (1) Excludes fully amortized intangible assets. (2) See Note 8 (Mortgage Banking Activities) for additional information on MSRs. The following table provides the current year and estimated future amortization expense for amortized intangible assets. We based our projections of amortization expense shown below on existing asset balances at September 30, 2015 . Future amortization expense may vary from these projections. (in millions) Amortized MSRs Core deposit intangibles Customer relationship and other intangibles Total Nine months ended September 30, 2015 (actual) $ 192 767 170 1,129 Estimate for the remainder of 2015 $ 66 255 55 376 Estimate for year ended December 31, 2016 243 919 208 1,370 2017 194 851 194 1,239 2018 157 769 185 1,111 2019 136 — 10 146 2020 123 — 6 129 For our goodwill impairment analysis, we allocate all of the goodwill to the individual operating segments. We identify reporting units that are one level below an operating segment (referred to as a component), and distinguish these reporting units based on how the segments and components are managed, taking into consideration the economic characteristics, nature of the products and customers of the components. At the time we acquire a business, we allocate goodwill to applicable reporting units based on their relative fair value, and if we have a significant business reorganization, we may reallocate the goodwill . See Note 18 (Operating Segments) for further information on management reporting. The following table shows the allocation of goodwill to our reportable operating segments for purposes of goodwill impairment testing. (in millions) Community Banking Wholesale Banking Wealth and Investment Management Consolidated Company December 31, 2013 (1) $ 17,871 6,564 1,202 25,637 Reduction in goodwill related to divested businesses — (11 ) — (11 ) Goodwill from business combinations — 87 — 87 Other (8 ) — — (8 ) December 31, 2014 $ 17,863 6,640 1,202 25,705 Reduction in goodwill related to divested businesses (21 ) — — (21 ) September 30, 2015 $ 17,842 6,640 1,202 25,684 (1) December 31, 2013 has been revised to reflect realignment of our operating segments. See Note 18 (Operating Segments) for additional information. |
Guarantees, Pledged Assets and
Guarantees, Pledged Assets and Collateral | 9 Months Ended |
Sep. 30, 2015 | |
Guarantees [Abstract] | |
Guarantees, Pledged Assets and Collateral | 90 days Total Gross Obligation Repurchase agreements $ 48,452 19,424 3,202 2,001 73,079 Securities lending 9,540 — 969 210 10,719 Total repurchases and securities lending (1) $ 57,992 19,424 4,171 2,211 83,798 (1) Repurchase and securities lending transactions are largely conducted under enforceable master lending agreements that allow either party to terminate the transaction on demand. These transactions have been reported as continuous obligations unless the MRA or MSLA has been modified with an overriding agreement that specifies an alternative termination date." id="sjs-B4">Note 10: Guarantees, Pledged Assets and Collateral Guarantees are contracts that contingently require us to make payments to a guaranteed party based on an event or a change in an underlying asset, liability, rate or index. Guarantees are generally in the form of standby letters of credit, securities lending and other indemnifications, written put options, recourse obligations, and other types of arrangements. For complete descriptions of our guarantees, see Note 14 (Guarantees, Pledged Assets and Collateral) to Financial Statements in our 2014 Form 10-K. The following table shows carrying value, maximum exposure to loss on our guarantees and the related non-investment grade amounts. September 30, 2015 Maximum exposure to loss (in millions) Carrying value Expires in one year or less Expires after one year through three years Expires after three years through five years Expires after five years Total Non- investment grade Standby letters of credit (1) $ 39 16,584 9,297 5,143 700 31,724 8,318 Securities lending and other indemnifications (2) — — — — 2,281 2,281 — Written put options (3) 619 7,268 6,328 4,426 2,047 20,069 10,889 Loans and MHFS sold with recourse (4) 63 117 664 682 6,004 7,467 4,443 Factoring guarantees (5) — 2,025 — — — 2,025 2,025 Other guarantees 17 65 18 18 2,548 2,649 57 Total guarantees $ 738 26,059 16,307 10,269 13,580 66,215 25,732 December 31, 2014 Maximum exposure to loss (in millions) Carrying Expires in Expires after Expires after Expires Total Non- Standby letters of credit (1) $ 41 16,271 10,269 6,295 645 33,480 8,447 Securities lending and other indemnifications (2) — — 2 2 5,948 5,952 — Written put options (3) 469 7,644 5,256 2,822 2,409 18,131 7,902 Loans and MHFS sold with recourse (4) 72 131 486 822 5,386 6,825 3,945 Factoring guarantees (5) — 3,460 — — — 3,460 3,460 Other guarantees 24 9 85 22 2,158 2,274 69 Total guarantees $ 606 27,515 16,098 9,963 16,546 70,122 23,823 (1) Total maximum exposure to loss includes direct pay letters of credit (DPLCs) of $12.1 billion and $15.0 billion at September 30, 2015 , and December 31, 2014 , respectively. We issue DPLCs to provide credit enhancements for certain bond issuances. Beneficiaries (bond trustees) may draw upon these instruments to make scheduled principal and interest payments, redeem all outstanding bonds because a default event has occurred, or for other reasons as permitted by the agreement. We also originate multipurpose lending commitments under which borrowers have the option to draw on the facility in one of several forms, including as a standby letter of credit. Total maximum exposure to loss includes the portion of these facilities for which we have issued standby letters of credit under the commitments. (2) Includes $0 million and $211 million at September 30, 2015 , and December 31, 2014 , respectively, in debt and equity securities lent from participating institutional client portfolios to third-party borrowers. Also includes indemnifications provided to certain third-party clearing agents. Outstanding customer obligations under these arrangements were $365 million and $950 million with related collateral of $1.9 billion and $5.6 billion at September 30, 2015 , and December 31, 2014 , respectively. Estimated maximum exposure to loss was $2.3 billion and $5.7 billion as of the same periods, respectively. (3) Written put options, which are in the form of derivatives, are also included in the derivative disclosures in Note 12 (Derivatives). (4) Represent recourse provided, predominantly to the GSEs, on loans sold under various programs and arrangements. Under these arrangements, we repurchased $2 million and $5 million of loans associated with these agreements in third quarter 2015 and 2014 , respectively, and $5 million and $10 million in the first nine months of 2015 and 2014 , respectively. (5) Consists of guarantees made under certain factoring arrangements to purchase trade receivables from third parties, generally upon their request, if receivable debtors default on their payment obligations. “Maximum exposure to loss” and “Non-investment grade” are required disclosures under GAAP. Non-investment grade represents those guarantees on which we have a higher risk of being required to perform under the terms of the guarantee. If the underlying assets under the guarantee are non-investment grade (that is, an external rating that is below investment grade or an internal credit default grade that is equivalent to a below investment grade external rating), we consider the risk of performance to be high. Internal credit default grades are determined based upon the same credit policies that we use to evaluate the risk of payment or performance when making loans and other extensions of credit. These credit policies are further described in Note 5 (Loans and Allowance for Credit Losses). Maximum exposure to loss represents the estimated loss that would be incurred under an assumed hypothetical circumstance, despite what we believe is its extremely remote possibility, where the value of our interests and any associated collateral declines to zero. Maximum exposure to loss estimates in the table above do not reflect economic hedges or collateral we could use to offset or recover losses we may incur under our guarantee agreements. Accordingly, this required disclosure is not an indication of expected loss. We believe the carrying value, which is either fair value for derivative-related products or the allowance for lending-related commitments, is more representative of our exposure to loss than maximum exposure to loss. Pledged Assets As part of our liquidity management strategy, we pledge assets to secure trust and public deposits, borrowings and letters of credit from the FHLB and FRB, securities sold under agreements to repurchase (repurchase agreements), and for other purposes as required or permitted by law or insurance statutory requirements. The types of collateral we pledge include securities issued by federal agencies, GSEs, domestic and foreign companies and various commercial and consumer loans. The following table provides the total carrying amount of pledged assets by asset type. The table excludes pledged consolidated VIE assets of $6.0 billion and $5.8 billion at September 30, 2015 , and December 31, 2014 , respectively, which can only be used to settle the liabilities of those entities. The table also excludes $7.3 billion and $10.1 billion in assets pledged in transactions accounted for as secured borrowings at September 30, 2015 and December 31, 2014 , respectively. See Note 7 (Securitizations and Variable Interest Entities) for additional information on consolidated VIE assets and secured borrowings. (in millions) Sep 30, Dec 31, Trading assets and other (1) $ 70,522 49,685 Investment securities (2) 95,882 101,997 Mortgages held for sale and Loans (3) 449,374 418,338 Total pledged assets $ 615,778 570,020 (1) Represent assets pledged to collateralize repurchase agreements and other securities financings. Balance includes $69.9 billion and $49.4 billion at September 30, 2015 , and December 31, 2014 , respectively, under agreements that permit the secured parties to sell or repledge the collateral. (2) Includes carrying value of $5.9 billion and $6.6 billion (fair value of $5.9 billion and $ 6.8 billion ) in collateral for repurchase agreements at September 30, 2015 , and December 31, 2014 , respectively, which are pledged under agreements that do not permit the secured parties to sell or repledge the collateral. Also includes $8.8 billion and $164 million in collateral pledged under repurchase agreements at September 30, 2015 , and December 31, 2014 , respectively, that permit the secured parties to sell or repledge the collateral. All other pledged securities are pursuant to agreements that do not permit the secured party to sell or repledge the collateral. (3) Includes mortgages held for sale of $11.6 billion and $8.7 billion at September 30, 2015 , and December 31, 2014 , respectively. Balance consists of mortgages held for sale and loans that are pledged under agreements that do not permit the secured parties to sell or repledge the collateral. Amounts exclude $1.3 billion and $1.7 billion at September 30, 2015 , and December 31, 2014 , respectively, of pledged loans recorded on our balance sheet representing certain delinquent loans that are eligible for repurchase primarily from GNMA loan securitizations. See Note 7 (Securitizations and Variable Interest Entities) for additional information. Securities Financing Activities We enter into resale and repurchase agreements and securities borrowing and lending agreements (collectively, “securities financing activities”) primarily to finance inventory positions, acquire securities to cover short trading positions, accommodate customers’ financing needs, and settle other securities obligations. These activities are conducted through our broker dealer subsidiaries and to a lesser extent through other bank entities. The majority of our securities financing activities involve high quality, liquid securities such as U.S. Treasury securities and government agency securities, and to a lesser extent, less liquid securities, including equity securities, corporate bonds and asset-backed securities. We account for these transactions as collateralized financings in which we typically receive or pledge securities as collateral. We believe these financing transactions generally do not have material credit risk given the collateral provided and the related monitoring processes. OFFSETTING OF RESALE AND REPURCHASE AGREEMENTS AND SECURITIES BORROWING AND LENDING AGREEMENTS The table below presents resale and repurchase agreements subject to master repurchase agreements (MRA) and securities borrowing and lending agreements subject to master securities lending agreements (MSLA). We account for transactions subject to these agreements as collateralized financings, and those with a single counterparty are presented net on our balance sheet, provided certain criteria are met that permit balance sheet netting. Most transactions subject to these agreements do not meet those criteria and thus are not eligible for balance sheet netting. Collateral we pledged consists of non-cash instruments, such as securities or loans, and is not netted on the balance sheet against the related liability. Collateral we received includes securities or loans and is not recognized on our balance sheet. Collateral pledged or received may be increased or decreased over time to maintain certain contractual thresholds as the assets underlying each arrangement fluctuate in value. Generally, these agreements require collateral to exceed the asset or liability recognized on the balance sheet. The following table includes the amount of collateral pledged or received related to exposures subject to enforceable MRAs or MSLAs. While these agreements are typically over-collateralized, U.S. GAAP requires disclosure in this table to limit the amount of such collateral to the amount of the related recognized asset or liability for each counterparty. In addition to the amounts included in the table below, we also have balance sheet netting related to derivatives that is disclosed within Note 12 (Derivatives). (in millions) Sep 30, Dec 31, Assets: Resale and securities borrowing agreements Gross amounts recognized $ 74,370 58,148 Gross amounts offset in consolidated balance sheet (1) (9,883 ) (6,477 ) Net amounts in consolidated balance sheet (2) 64,487 51,671 Collateral not recognized in consolidated balance sheet (3) (63,991 ) (51,624 ) Net amount (4) $ 496 47 Liabilities: Repurchase and securities lending agreements Gross amounts recognized (5) $ 83,798 56,583 Gross amounts offset in consolidated balance sheet (1) (9,883 ) (6,477 ) Net amounts in consolidated balance sheet (6) 73,915 50,106 Collateral pledged but not netted in consolidated balance sheet (7) (73,525 ) (49,713 ) Net amount (8) $ 390 393 (1) Represents recognized amount of resale and repurchase agreements with counterparties subject to enforceable MRAs or MSLAs that have been offset in the consolidated balance sheet. (2) At September 30, 2015 , and December 31, 2014 , includes $44.8 billion and $36.8 billion , respectively, classified on our consolidated balance sheet in Federal funds sold, securities purchased under resale agreements and other short-term investments and $19.7 billion and $14.9 billion , respectively, in Loans. (3) Represents the fair value of collateral we have received under enforceable MRAs or MSLAs, limited for table presentation purposes to the amount of the recognized asset due from each counterparty. At September 30, 2015 and December 31, 2014 , we have received total collateral with a fair value of $86.1 billion and $64.5 billion , respectively, all of which, we have the right to sell or repledge. These amounts include securities we have sold or repledged to others with a fair value of $51.3 billion at September 30, 2015 , and $40.8 billion at December 31, 2014 . (4) Represents the amount of our exposure that is not collateralized and/or is not subject to an enforceable MRA or MSLA. (5) For additional information on underlying collateral and contractual maturities, see the "Repurchase and Securities Lending Agreements" section in this Note. (6) Amount is classified in Short-term borrowings on our consolidated balance sheet. (7) Represents the fair value of collateral we have pledged, related to enforceable MRAs or MSLAs, limited for table presentation purposes to the amount of the recognized liability owed to each counterparty. At September 30, 2015 , and December 31, 2014 , we have pledged total collateral with a fair value of $85.2 billion and $56.5 billion , respectively, of which, the counterparty does not have the right to sell or repledge $6.5 billion as of September 30, 2015 and $6.9 billion as of December 31, 2014 . (8) Represents the amount of our obligation that is not covered by pledged collateral and/or is not subject to an enforceable MRA or MSLA. REPURCHASE AND SECURITIES LENDING AGREEMENTS Securities sold under repurchase agreements and securities lending arrangements are effectively short-term collateralized borrowings. In these transactions, we receive cash in exchange for transferring securities as collateral and recognize an obligation to reacquire the securities for cash at the transaction's maturity. These types of transactions create risks, including (1) the counterparty may fail to return the securities at maturity, (2) the fair value of the securities transferred may decline below the amount of our obligation to reacquire the securities, and therefore create an obligation for us to pledge additional amounts, and (3) the counterparty may accelerate the maturity on demand requiring us to reacquire the security prior to contractual maturity. We attempt to mitigate these risks by the fact that the majority of our securities financing activities involve highly liquid securities, we underwrite and monitor the financial strength of our counterparties, we monitor the fair value of collateral pledged relative to contractually required repurchase amounts, and we monitor that our collateral is properly returned through the clearing and settlement process in advance of our cash repayment. The following table provides the underlying collateral types of our gross obligations under repurchase and securities lending agreements. September 30, 2015 (in millions) Total Gross Obligation Repurchase agreements: Securities of U.S. Treasury and federal agencies $ 24,295 Securities of U.S. States and political subdivisions 43 Federal agency mortgage-backed securities 39,694 Non-agency mortgage-backed securities 1,491 Corporate debt securities 3,546 Asset-backed securities 2,402 Equity securities 1,224 Other 384 Total repurchases 73,079 Securities lending: Securities of U.S. Treasury and federal agencies 65 Securities of U.S. States and political subdivisions 10 Federal agency mortgage-backed securities 99 Corporate debt securities 732 Equity securities (1) 9,813 Total securities lending 10,719 Total repurchases and securities lending $ 83,798 (1) Equity securities are generally exchange traded and either re-hypothecated under margin lending agreements or obtained through contemporaneous securities borrowing transactions with other counterparties. The following table provides the contractual maturities of our gross obligations under repurchase and securities lending agreements. September 30, 2015 (in millions) Overnight/Continuous Up to 30 days 30-90 days >90 days Total Gross Obligation Repurchase agreements $ 48,452 19,424 3,202 2,001 73,079 Securities lending 9,540 — 969 210 10,719 Total repurchases and securities lending (1) $ 57,992 19,424 4,171 2,211 83,798 (1) Repurchase and securities lending transactions are largely conducted under enforceable master lending agreements that allow either party to terminate the transaction on demand. These transactions have been reported as continuous obligations unless the MRA or MSLA has been modified with an overriding agreement that specifies an alternative termination date. |
Legal Actions
Legal Actions | 9 Months Ended |
Sep. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Legal Actions | Note 11: Legal Actions The following supplements our discussion of certain matters previously reported in Note 15 (Legal Actions) to Financial Statements in our 2014 Form 10-K and Note 11 (Legal Actions) to Financial Statements in our 2015 first and second quarter Quarterly Reports on Form 10-Q for events occurring during third quarter 2015. INTERCHANGE LITIGATION Wells Fargo Bank, N.A., Wells Fargo & Company, Wachovia Bank, N.A. and Wachovia Corporation are named as defendants, separately or in combination, in putative class actions filed on behalf of a plaintiff class of merchants and in individual actions brought by individual merchants with regard to the interchange fees associated with Visa and MasterCard payment card transactions. These actions have been consolidated in the U.S. District Court for the Eastern District of New York. Visa, MasterCard and several banks and bank holding companies are named as defendants in various of these actions. The amended and consolidated complaint asserts claims against defendants based on alleged violations of federal and state antitrust laws and seeks damages, as well as injunctive relief. Plaintiff merchants allege that Visa, MasterCard and payment card issuing banks unlawfully colluded to set interchange rates. Plaintiffs also allege that enforcement of certain Visa and MasterCard rules and alleged tying and bundling of services offered to merchants are anticompetitive. Wells Fargo and Wachovia, along with other defendants and entities, are parties to Loss and Judgment Sharing Agreements, which provide that they, along with other entities, will share, based on a formula, in any losses from the Interchange Litigation. On July 13, 2012, Visa, MasterCard and the financial institution defendants, including Wells Fargo, signed a memorandum of understanding with plaintiff merchants to resolve the consolidated class actions and reached a separate settlement in principle of the consolidated individual actions. The settlement payments to be made by all defendants in the consolidated class and individual actions total approximately $6.6 billion before reductions applicable to certain merchants opting out of the settlement. The class settlement also provided for the distribution to class merchants of 10 basis points of default interchange across all credit rate categories for a period of eight consecutive months. The District Court granted final approval of the settlement, which has been appealed to the Second Circuit Court of Appeals by settlement objector merchants. Other merchants have opted out of the settlement and are pursuing several individual actions. Several merchants have now filed a motion to vacate the class settlement. OUTLOOK When establishing a liability for contingent litigation losses, the Company determines a range of potential losses for each matter that is both probable and estimable, and records the amount it considers to be the best estimate within the range. The high end of the range of reasonably possible potential litigation losses in excess of the Company’s liability for probable and estimable losses was approximately $1.4 billion as of September 30, 2015 . For these matters and others where an unfavorable outcome is reasonably possible but not probable, there may be a range of possible losses in excess of the established liability that cannot be estimated. Based on information currently available, advice of counsel, available insurance coverage and established reserves, Wells Fargo believes that the eventual outcome of the actions against Wells Fargo and/or its subsidiaries, including the matters described above, will not, individually or in the aggregate, have a material adverse effect on Wells Fargo’s consolidated financial position. However, in the event of unexpected future developments, it is possible that the ultimate resolution of those matters, if unfavorable, may be material to Wells Fargo’s results of operations for any particular period. |
Derivatives
Derivatives | 9 Months Ended |
Sep. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives | Note 12: Derivatives We primarily use derivatives to manage exposure to market risk, including interest rate risk, credit risk and foreign currency risk, and to assist customers with their risk management objectives. We designate certain derivatives as hedging instruments in a qualifying hedge accounting relationship (fair value or cash flow hedge). Our remaining derivatives consist of economic hedges that do not qualify for hedge accounting and derivatives held for customer accommodation, trading, or other purposes. For more information on our derivative activities, see Note 16 (Derivatives) to Financial Statements in our 2014 Form 10-K. The following table presents the total notional or contractual amounts and fair values for our derivatives. Derivative transactions can be measured in terms of the notional amount, but this amount is not recorded on the balance sheet and is not, when viewed in isolation, a meaningful measure of the risk profile of the instruments. The notional amount is generally not exchanged but is used only as the basis on which interest and other payments are determined. Derivatives designated as qualifying hedging instruments and economic hedges are recorded on the balance sheet at fair value in other assets or other liabilities. Customer accommodation, trading and other derivatives are recorded on the balance sheet at fair value in trading assets, other assets or other liabilities. September 30, 2015 December 31, 2014 Notional or contractual amount Fair value Notional or contractual amount Fair value (in millions) Derivative assets Derivative liabilities Derivative Derivative Derivatives designated as hedging instruments Interest rate contracts (1) $ 186,840 9,091 2,708 148,967 6,536 2,435 Foreign exchange contracts (1) 27,286 398 2,409 26,778 752 1,347 Total derivatives designated as qualifying hedging instruments 9,489 5,117 7,288 3,782 Derivatives not designated as hedging instruments Economic hedges: Interest rate contracts (2) 202,390 673 507 221,527 697 487 Equity contracts 6,577 502 45 5,219 367 96 Foreign exchange contracts 19,062 297 198 14,405 275 28 Subtotal 1,472 750 1,339 611 Customer accommodation, trading and other derivatives: Interest rate contracts 5,116,922 82,249 82,440 4,378,767 56,465 57,137 Commodity contracts 57,779 5,218 6,042 88,640 7,461 7,702 Equity contracts 136,981 7,307 5,078 138,422 8,638 6,942 Foreign exchange contracts 295,409 7,648 7,500 253,742 6,377 6,452 Credit contracts - protection sold 11,059 82 593 12,304 151 943 Credit contracts - protection purchased 19,318 576 91 16,659 755 168 Other contracts 1,790 — 70 1,994 — 44 Subtotal 103,080 101,814 79,847 79,388 Total derivatives not designated as hedging instruments 104,552 102,564 81,186 79,999 Total derivatives before netting 114,041 107,681 88,474 83,781 Netting (3) (94,142 ) (92,286 ) (65,869 ) (65,043 ) Total $ 19,899 15,395 22,605 18,738 (1) Notional amounts presented exclude $ 1.9 billion of interest rate contracts at both September 30, 2015 and December 31, 2014 , for certain derivatives that are combined for designation as a hedge on a single instrument. The notional amount for foreign exchange contracts at September 30, 2015 , and December 31, 2014 excludes $5.8 billion and $2.7 billion , respectively, for certain derivatives that are combined for designation as a hedge on a single instrument. (2) Includes economic hedge derivatives used to hedge the risk of changes in the fair value of residential MSRs, MHFS, loans, derivative loan commitments and other interests held. (3) Represents balance sheet netting of derivative asset and liability balances, related cash collateral and portfolio level counterparty valuation adjustments. See the next table in this Note for further information. The following table provides information on the gross fair values of derivative assets and liabilities, the balance sheet netting adjustments and the resulting net fair value amount recorded on our balance sheet, as well as the non-cash collateral associated with such arrangements. We execute most of our derivative transactions under master netting arrangements. We reflect all derivative balances and related cash collateral subject to enforceable master netting arrangements on a net basis within the balance sheet. The “Gross amounts recognized” column in the following table includes $96.7 billion and $100.3 billion of gross derivative assets and liabilities, respectively, at September 30, 2015 , and $69.6 billion and $75.0 billion , respectively, at December 31, 2014 , with counterparties subject to enforceable master netting arrangements that are carried on the balance sheet net of offsetting amounts. The remaining gross derivative assets and liabilities of $17.3 billion and $7.3 billion , respectively, at September 30, 2015 and $18.9 billion and $8.8 billion , respectively, at December 31, 2014 , include those with counterparties subject to master netting arrangements for which we have not assessed the enforceability because they are with counterparties where we do not currently have positions to offset, those subject to master netting arrangements where we have not been able to confirm the enforceability and those not subject to master netting arrangements. As such, we do not net derivative balances or collateral within the balance sheet for these counterparties. We determine the balance sheet netting adjustments based on the terms specified within each master netting arrangement. We disclose the balance sheet netting amounts within the column titled “Gross amounts offset in consolidated balance sheet.” Balance sheet netting adjustments are determined at the counterparty level for which there may be multiple contract types. For disclosure purposes, we allocate these adjustments to the contract type for each counterparty proportionally based upon the “Gross amounts recognized” by counterparty. As a result, the net amounts disclosed by contract type may not represent the actual exposure upon settlement of the contracts. Balance sheet netting does not include non-cash collateral that we receive and pledge. For disclosure purposes, we present the fair value of this non-cash collateral in the column titled “Gross amounts not offset in consolidated balance sheet (Disclosure-only netting)” within the table. We determine and allocate the Disclosure-only netting amounts in the same manner as balance sheet netting amounts. The “Net amounts” column within the following table represents the aggregate of our net exposure to each counterparty after considering the balance sheet and Disclosure-only netting adjustments. We manage derivative exposure by monitoring the credit risk associated with each counterparty using counterparty specific credit risk limits, using master netting arrangements and obtaining collateral. Derivative contracts executed in over-the-counter markets include bilateral contractual arrangements that are not cleared through a central clearing organization but are typically subject to master netting arrangements. The percentage of our bilateral derivative transactions outstanding at period end in such markets, based on gross fair value, is provided within the following table. Other derivative contracts executed in over-the-counter or exchange-traded markets are settled through a central clearing organization and are excluded from this percentage. In addition to the netting amounts included in the table, we also have balance sheet netting related to resale and repurchase agreements that are disclosed within Note 10 (Guarantees, Pledged Assets and Collateral). (in millions) Gross amounts recognized Gross amounts offset in consolidated balance sheet (1) Net amounts in consolidated balance sheet (2) Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) (3) Net amounts Percent exchanged in over-the-counter market (4) September 30, 2015 Derivative assets Interest rate contracts $ 92,013 (84,393 ) 7,620 (928 ) 6,692 30 % Commodity contracts 5,218 (1,000 ) 4,218 (62 ) 4,156 32 Equity contracts 7,809 (2,811 ) 4,998 (449 ) 4,549 50 Foreign exchange contracts 8,343 (5,404 ) 2,939 (9 ) 2,930 99 Credit contracts-protection sold 82 (72 ) 10 — 10 90 Credit contracts-protection purchased 576 (462 ) 114 (2 ) 112 100 Total derivative assets $ 114,041 (94,142 ) 19,899 (1,450 ) 18,449 Derivative liabilities Interest rate contracts $ 85,655 (80,128 ) 5,527 (3,890 ) 1,637 26 % Commodity contracts 6,042 (1,065 ) 4,977 (143 ) 4,834 84 Equity contracts 5,123 (2,253 ) 2,870 (217 ) 2,653 81 Foreign exchange contracts 10,107 (8,321 ) 1,786 (175 ) 1,611 100 Credit contracts-protection sold 593 (463 ) 130 (100 ) 30 100 Credit contracts-protection purchased 91 (56 ) 35 (15 ) 20 78 Other contracts 70 — 70 — 70 100 Total derivative liabilities $ 107,681 (92,286 ) 15,395 (4,540 ) 10,855 December 31, 2014 Derivative assets Interest rate contracts $ 63,698 (56,051 ) 7,647 (769 ) 6,878 45 % Commodity contracts 7,461 (1,233 ) 6,228 (72 ) 6,156 27 Equity contracts 9,005 (2,842 ) 6,163 (405 ) 5,758 54 Foreign exchange contracts 7,404 (4,923 ) 2,481 (85 ) 2,396 98 Credit contracts-protection sold 151 (131 ) 20 — 20 90 Credit contracts-protection purchased 755 (689 ) 66 (1 ) 65 100 Total derivative assets $ 88,474 (65,869 ) 22,605 (1,332 ) 21,273 Derivative liabilities Interest rate contracts $ 60,059 (54,394 ) 5,665 (4,244 ) 1,421 44 % Commodity contracts 7,702 (1,459 ) 6,243 (33 ) 6,210 81 Equity contracts 7,038 (2,845 ) 4,193 (484 ) 3,709 82 Foreign exchange contracts 7,827 (5,511 ) 2,316 (270 ) 2,046 100 Credit contracts-protection sold 943 (713 ) 230 (199 ) 31 100 Credit contracts-protection purchased 168 (121 ) 47 (18 ) 29 86 Other contracts 44 — 44 — 44 100 Total derivative liabilities $ 83,781 (65,043 ) 18,738 (5,248 ) 13,490 (1) Represents amounts with counterparties subject to enforceable master netting arrangements that have been offset in the consolidated balance sheet, including related cash collateral and portfolio level counterparty valuation adjustments. Counterparty valuation adjustments were $390 million and $266 million related to derivative assets and $99 million and $56 million related to derivative liabilities at September 30, 2015 and December 31, 2014 , respectively. Cash collateral totaled $6.5 billion and $5.0 billion , netted against derivative assets and liabilities, respectively, at September 30, 2015 , and $5.2 billion and $4.6 billion , respectively, at December 31, 2014 . (2) Net derivative assets of $15.2 billion and $16.9 billion are classified in Trading assets at September 30, 2015 and December 31, 2014 , respectively. $4.7 billion and $5.7 billion are classified in Other assets in the consolidated balance sheet at September 30, 2015 and December 31, 2014 , respectively. Net derivative liabilities are classified in Accrued expenses and other liabilities in the consolidated balance sheet. (3) Represents non-cash collateral pledged and received against derivative assets and liabilities with the same counterparty that are subject to enforceable master netting arrangements. U.S. GAAP does not permit netting of such non-cash collateral balances in the consolidated balance sheet but requires disclosure of these amounts. (4) Represents derivatives executed in over-the-counter markets that are not settled through a central clearing organization. Over-the-counter percentages are calculated based on gross amounts recognized as of the respective balance sheet date. The remaining percentage represents derivatives settled through a central clearing organization, which are executed in either over-the-counter or exchange-traded markets. Fair Value Hedges We use derivatives to hedge against changes in fair value of certain financial instruments, including available-for-sale debt securities, mortgages held for sale, and long-term debt. For more information on fair value hedges, see Note 16 (Derivatives) to Financial Statements in our 2014 Form 10-K. The following table shows the net gains (losses) recognized in the income statement related to derivatives in fair value hedging relationships. The entire derivative gain or loss is included in the assessment of hedge effectiveness for all fair value hedge relationships, except for those involving foreign-currency denominated available-for-sale securities and long-term debt hedged with foreign currency forward derivatives for which the time value component of the derivative gain or loss related to the changes in the difference between the spot and forward price is excluded from the assessment of hedge effectiveness. Interest rate contracts hedging: Foreign exchange contracts hedging: Total net gains (losses) on fair value hedges (in millions) Available- for-sale securities Mortgages held for sale Long-term debt Available- for-sale securities Long-term debt Quarter ended September 30, 2015 Net interest income (expense) recognized on derivatives $ (199 ) (3 ) 494 — 35 327 Gains (losses) recorded in noninterest income Recognized on derivatives (1,182 ) (20 ) 2,233 27 (200 ) 858 Recognized on hedged item 1,180 16 (2,039 ) (29 ) 213 (659 ) Net recognized on fair value hedges (ineffective portion) (1) $ (2 ) (4 ) 194 (2 ) 13 199 Quarter ended September 30, 2014 Net interest income (expense) recognized on derivatives $ (183 ) (2 ) 467 (1 ) 82 363 Gains (losses) recorded in noninterest income Recognized on derivatives (28 ) 1 18 294 (1,274 ) (989 ) Recognized on hedged item 23 (5 ) 37 (286 ) 1,305 1,074 Net recognized on fair value hedges (ineffective portion) (1) $ (5 ) (4 ) 55 8 31 85 Nine months ended September 30, 2015 Net interest income (expense) recognized on derivatives $ (585 ) (10 ) 1,445 — 152 1,002 Gains (losses) recorded in noninterest income Recognized on derivatives (496 ) (14 ) 1,186 191 (1,823 ) (956 ) Recognized on hedged item 484 5 (1,121 ) (187 ) 1,860 1,041 Net recognized on fair value hedges (ineffective portion) (1) $ (12 ) (9 ) 65 4 37 85 Nine months ended September 30, 2014 Net interest income (expense) recognized on derivatives $ (536 ) (12 ) 1,371 (9 ) 232 1,046 Gains (losses) recorded in noninterest income Recognized on derivatives (973 ) (25 ) 1,801 275 (860 ) 218 Recognized on hedged item 947 14 (1,530 ) (271 ) 931 91 Net recognized on fair value hedges (ineffective portion) (1) $ (26 ) (11 ) 271 4 71 309 (1) The third quarter and first nine months of 2015 , included $(1) million and $(4) million , respectively, and both the third quarter and first nine months of 2014 included $0 million of the time value component recognized as net interest income (expense) on forward derivatives hedging foreign currency available-for-sale securities and long-term debt that were excluded from the assessment of hedge effectiveness. Cash Flow Hedges We use derivatives to hedge certain financial instruments against future interest rate increases and to limit the variability of cash flows on certain financial instruments due to changes in the benchmark interest rate. For more information on cash flow hedges, see Note 16 (Derivatives) to Financial Statements in our 2014 Form 10-K. Based upon current interest rates, we estimate that $1.0 billion (pre tax) of deferred net gains on derivatives in OCI at September 30, 2015 , will be reclassified into net interest income during the next twelve months. Future changes to interest rates may significantly change actual amounts reclassified to earnings. We are hedging our exposure to the variability of future cash flows for all forecasted transactions for a maximum of 7 years . The following table shows the net gains (losses) recognized related to derivatives in cash flow hedging relationships. Quarter Nine months (in millions) 2015 2014 2015 2014 Gains (losses) (pre tax) recognized in OCI on derivatives $ 1,769 (34 ) 2,233 222 Gains (pre tax) reclassified from cumulative OCI into net income (1) 293 127 795 348 Gains (losses) (pre tax) recognized in noninterest income for hedge ineffectiveness (2) — — 1 1 (1) See Note 17 (Other Comprehensive Income) for detail on components of net income. (2) None of the change in value of the derivatives was excluded from the assessment of hedge effectiveness. Derivatives Not Designated as Hedging Instruments We use economic hedges primarily to hedge the risk of changes in the fair value of certain residential MHFS, certain loans held for investment, residential MSRs measured at fair value, derivative loan commitments and other interests held. The resulting gain or loss on these economic hedge derivatives is reflected in mortgage banking noninterest income, net gains (losses) from equity investments and other noninterest income. The derivatives used to hedge MSRs measured at fair value, resulted in net derivative gains of $1.1 billion and $1.0 billion in the third quarter and first nine months of 2015 , respectively, and $17 million and $2.2 billion in the third quarter and first nine months of 2014 , respectively, which are included in mortgage banking noninterest income. The aggregate fair value of these derivatives was a net asset of $561 million at September 30, 2015 , and $492 million at December 31, 2014 . The change in fair value of these derivatives for each period end is due to changes in the underlying market indices and interest rates as well as the purchase and sale of derivative financial instruments throughout the period as part of our dynamic MSR risk management process. Interest rate lock commitments for mortgage loans that we intend to sell are considered derivatives. The aggregate fair value of derivative loan commitments on the balance sheet was a net asset of $160 million and $98 million at September 30, 2015 , and December 31, 2014 , respectively, and is included in the caption “Interest rate contracts” under “Customer accommodation, trading and other derivatives” in the first table in this Note. For more information on economic hedges and other derivatives, see Note 16 (Derivatives) to Financial Statements in our 2014 Form 10-K. The following table shows the net gains recognized in the income statement related to derivatives not designated as hedging instruments. Quarter Nine months (in millions) 2015 2014 2015 2014 Net gains (losses) recognized on economic hedges derivatives: Interest rate contracts Recognized in noninterest income: Mortgage banking (1) $ 621 85 885 926 Other (2) (92 ) (25 ) (42 ) (150 ) Equity contracts (3) (90 ) (47 ) (85 ) 76 Foreign exchange contracts (2) 325 530 303 482 Credit contracts (2) — (1 ) — (1 ) Subtotal (4) 764 542 1,061 1,333 Net gains (losses) recognized on customer accommodation, trading and other derivatives: Interest rate contracts Recognized in noninterest income: Mortgage banking (5) 442 142 806 930 Other (6) (340 ) 4 56 (724 ) Commodity contracts (6) 10 23 54 60 Equity contracts (6) 747 (197 ) 797 (505 ) Foreign exchange contracts (6) 286 185 611 599 Credit contracts (6) 37 9 36 41 Other (4)(6) (33 ) (12 ) (26 ) (21 ) Subtotal (4) 1,149 154 2,334 380 Net gains recognized related to derivatives not designated as hedging instruments $ 1,913 696 3,395 1,713 (1) Predominantly mortgage banking noninterest income including gains (losses) on the derivatives used as economic hedges of MSRs measured at fair value, interest rate lock commitments and mortgages held for sale. (2) Predominantly included in other noninterest income. (3) Predominantly included in net gains (losses) from equity investments in noninterest income. (4) Prior period has been revised to conform with current period presentation. (5) Predominantly mortgage banking noninterest income including gains (losses) on interest rate lock commitments. (6) Predominantly included in net gains from trading activities in noninterest income. Credit Derivatives Credit derivative contracts are arrangements whose value is derived from the transfer of credit risk of a reference asset or entity from one party (the purchaser of credit protection) to another party (the seller of credit protection). We use credit derivatives primarily to assist customers with their risk management objectives. We may also use credit derivatives in structured product transactions or liquidity agreements written to special purpose vehicles. The maximum exposure of sold credit derivatives is managed through posted collateral, purchased credit derivatives and similar products in order to achieve our desired credit risk profile. This credit risk management provides an ability to recover a significant portion of any amounts that would be paid under the sold credit derivatives. We would be required to perform under the noted credit derivatives in the event of default by the referenced obligors. Events of default include events such as bankruptcy, capital restructuring or lack of principal and/or interest payment. In certain cases, other triggers may exist, such as the credit downgrade of the referenced obligors or the inability of the special purpose vehicle for which we have provided liquidity to obtain funding. The following table provides details of sold and purchased credit derivatives. Notional amount (in millions) Fair value liability Protection sold (A) Protection sold - non- investment grade Protection purchased with identical underlyings (B) Net protection sold (A) - (B) Other protection purchased Range of maturities September 30, 2015 Credit default swaps on: Corporate bonds $ 29 5,131 1,801 3,889 1,242 2,514 2015 - 2025 Structured products 340 680 539 456 224 126 2017 - 2052 Credit protection on: Default swap index — 1,762 302 968 794 1,794 2015 - 2020 Commercial mortgage-backed securities index 205 833 — 728 105 392 2047 - 2057 Asset-backed securities index 18 48 — 1 47 72 2045 - 2046 Other 1 2,605 2,605 — 2,605 8,378 2015 - 2025 Total credit derivatives $ 593 11,059 5,247 6,042 5,017 13,276 December 31, 2014 Credit default swaps on: Corporate bonds $ 23 6,344 2,904 4,894 1,450 2,831 2015 - 2021 Structured products 654 1,055 874 608 447 277 2017 - 2052 Credit protection on: Default swap index — 1,659 292 777 882 1,042 2015 - 2019 Commercial mortgage-backed securities index 246 1,058 — 608 450 355 2047 - 2063 Asset-backed securities index 19 52 1 1 51 81 2045 - 2046 Other 1 2,136 2,136 — 2,136 5,185 2015 - 2025 Total credit derivatives $ 943 12,304 6,207 6,888 5,416 9,771 Protection sold represents the estimated maximum exposure to loss that would be incurred under an assumed hypothetical circumstance, where the value of our interests and any associated collateral declines to zero, without any consideration of recovery or offset from any economic hedges. We believe this hypothetical circumstance to be an extremely remote possibility and accordingly, this required disclosure is not an indication of expected loss. The amounts under non-investment grade represent the notional amounts of those credit derivatives on which we have a higher risk of being required to perform under the terms of the credit derivative and are a function of the underlying assets. We consider the risk of performance to be high if the underlying assets under the credit derivative have an external rating that is below investment grade or an internal credit default grade that is equivalent thereto. We believe the net protection sold, which is representative of the net notional amount of protection sold and purchased with identical underlyings, in combination with other protection purchased, is more representative of our exposure to loss than either non-investment grade or protection sold. Other protection purchased represents additional protection, which may offset the exposure to loss for protection sold, that was not purchased with an identical underlying of the protection sold. Credit-Risk Contingent Features Certain of our derivative contracts contain provisions whereby if the credit rating of our debt were to be downgraded by certain major credit rating agencies, the counterparty could demand additional collateral or require termination or replacement of derivative instruments in a net liability position. The aggregate fair value of all derivative instruments with such credit-risk-related contingent features that are in a net liability position was $12.6 billion at September 30, 2015 , and $13.6 billion at December 31, 2014 , for which we posted $9.0 billion and $10.5 billion , respectively, in collateral in the normal course of business. If the credit rating of our debt had been downgraded below investment grade, which is the credit-risk-related contingent feature that if triggered requires the maximum amount of collateral to be posted, on September 30, 2015 , or December 31, 2014 , we would have been required to post additional collateral of $3.5 billion or $3.1 billion , respectively, or potentially settle the contract in an amount equal to its fair value. Some contracts require that we provide more collateral than the fair value of derivatives that are in a net liability position if a downgrade occurs. Counterparty Credit Risk By using derivatives, we are exposed to counterparty credit risk if counterparties to the derivative contracts do not perform as expected. If a counterparty fails to perform, our counterparty credit risk is equal to the amount reported as a derivative asset on our balance sheet. The amounts reported as a derivative asset are derivative contracts in a gain position, and to the extent subject to legally enforceable master netting arrangements, net of derivatives in a loss position with the same counterparty and cash collateral received. We minimize counterparty credit risk through credit approvals, limits, monitoring procedures, executing master netting arrangements and obtaining collateral, where appropriate. To the extent the master netting arrangements and other criteria meet the applicable requirements, including determining the legal enforceability of the arrangement, it is our policy to present derivative balances and related cash collateral amounts net on the balance sheet. We incorporate credit valuation adjustments (CVA) to reflect counterparty credit risk in determining the fair value of our derivatives. Such adjustments, which consider the effects of enforceable master netting agreements and collateral arrangements, reflect market-based views of the credit quality of each counterparty. Our CVA calculation is determined based on observed credit spreads in the credit default swap market and indices indicative of the credit quality of the counterparties to our derivatives. |
Fair Values of Assets and Liabi
Fair Values of Assets and Liabilities | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Values of Assets and Liabilities | Note 13: Fair Values of Assets and Liabilities We use fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. Assets and liabilities recorded at fair value on a recurring basis are presented in the recurring table in this Note. From time to time, we may be required to record at fair value other assets on a nonrecurring basis, such as certain residential and commercial MHFS, certain LHFS, loans held for investment and certain other assets. These nonrecurring fair value adjustments typically involve application of lower-of-cost-or-market accounting or write-downs of individual assets. See Note 1 (Summary of Significant Accounting Policies) to Financial Statements in our 2014 Form 10-K for discussion of how we determine fair value. For descriptions of the valuation methodologies we use for assets and liabilities recorded at fair value on a recurring or nonrecurring basis and for estimating fair value for financial instruments that are not recorded at fair value, see Note 17 (Fair Values of Assets and Liabilities) to Financial Statements in our 2014 Form 10-K. FAIR VALUE HIERARCHY We group our assets and liabilities measured at fair value in three levels based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are: • Level 1 – Valuation is based upon quoted prices for identical instruments traded in active markets. • Level 2 – Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. • Level 3 – Valuation is generated from techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques. Fair Value Measurements from Vendors For certain assets and liabilities, we obtain fair value measurements from vendors, which predominantly consist of third party pricing services, and record the unadjusted fair value in our financial statements. For additional information, see Note 17 (Fair Values of Assets and Liabilities) to Financial Statements in our 2014 Form 10-K. The detail by level is shown in the table below. Fair value measurements obtained from brokers or third party pricing services that we have adjusted to determine the fair value recorded in our financial statements are not included in the following table. Brokers Third party pricing services (in millions) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 September 30, 2015 Trading assets (excluding derivatives) $ — — — — 7 — Available-for-sale securities: Securities of U.S. Treasury and federal agencies — — — 29,430 5,993 — Securities of U.S. states and political subdivisions — — — — 47,506 54 Mortgage-backed securities — 152 — — 127,541 84 Other debt securities (1) — 305 463 — 47,979 449 Total debt securities — 457 463 29,430 229,019 587 Total marketable equity securities — — — — 494 — Total available-for-sale securities — 457 463 29,430 229,513 587 Derivatives (trading and other assets) — — — — 228 — Derivatives (liabilities) — — — — (224 ) — Other liabilities — — — — (1 ) — December 31, 2014 Trading assets (excluding derivatives) $ — — — 2 105 — Available-for-sale securities: Securities of U.S. Treasury and federal agencies — — — 19,899 5,905 — Securities of U.S. states and political subdivisions — — — — 42,666 61 Mortgage-backed securities — 152 — — 135,997 133 Other debt securities (1) — 1,035 601 — 41,933 541 Total debt securities — 1,187 601 19,899 226,501 735 Total marketable equity securities — — — — 569 — Total available-for-sale securities — 1,187 601 19,899 227,070 735 Derivatives (trading and other assets) — 1 — — 290 — Derivatives (liabilities) — (1 ) — — (292 ) — Other liabilities — — — — (1 ) — (1) Includes corporate debt securities, collateralized loan and other debt obligations, asset-backed securities, and other debt securities. Assets and Liabilities Recorded at Fair Value on a Recurring Basis The following two tables present the balances of assets and liabilities recorded at fair value on a recurring basis. (in millions) Level 1 Level 2 Level 3 Netting Total September 30, 2015 Trading assets (excluding derivatives) Securities of U.S. Treasury and federal agencies $ 11,052 3,389 — — 14,441 Securities of U.S. states and political subdivisions — 1,639 9 — 1,648 Collateralized loan and other debt obligations (1) — 413 390 — 803 Corporate debt securities — 7,016 46 — 7,062 Mortgage-backed securities — 21,377 — — 21,377 Asset-backed securities — 1,088 — — 1,088 Equity securities 11,329 88 1 — 11,418 Total trading securities (2) 22,381 35,010 446 — 57,837 Other trading assets — 820 34 — 854 Total trading assets (excluding derivatives) 22,381 35,830 480 — 58,691 Securities of U.S. Treasury and federal agencies 29,430 5,993 — — 35,423 Securities of U.S. states and political subdivisions — 47,506 1,917 (3) — 49,423 Mortgage-backed securities: Federal agencies — 105,023 — — 105,023 Residential — 8,128 — — 8,128 Commercial — 14,624 84 — 14,708 Total mortgage-backed securities — 127,775 84 — 127,859 Corporate debt securities 64 15,045 381 — 15,490 Collateralized loan and other debt obligations (4) — 29,329 725 (3) — 30,054 Asset-backed securities: Auto loans and leases — 14 248 (3) — 262 Home equity loans — 428 — — 428 Other asset-backed securities — 4,276 1,240 (3) — 5,516 Total asset-backed securities — 4,718 1,488 — 6,206 Other debt securities — 10 — — 10 Total debt securities 29,494 230,376 4,595 — 264,465 Marketable equity securities: Perpetual preferred securities 446 494 — — 940 Other marketable equity securities 1,001 — — — 1,001 Total marketable equity securities 1,447 494 — — 1,941 Total available-for-sale securities 30,941 230,870 4,595 — 266,406 Mortgages held for sale — 16,165 1,462 — 17,627 Loans held for sale — — — — — Loans — — 5,529 — 5,529 Mortgage servicing rights (residential) — — 11,778 — 11,778 Derivative assets: Interest rate contracts 85 91,468 460 — 92,013 Commodity contracts — 5,191 27 — 5,218 Equity contracts 3,900 3,014 895 — 7,809 Foreign exchange contracts 114 8,206 23 — 8,343 Credit contracts — 357 301 — 658 Netting — — — (94,142 ) (5) (94,142 ) Total derivative assets (6) 4,099 108,236 1,706 (94,142 ) 19,899 Other assets — — 2,808 — 2,808 Total assets recorded at fair value $ 57,421 391,101 28,358 (94,142 ) 382,738 Derivative liabilities: Interest rate contracts $ (43 ) (85,595 ) (17 ) — (85,655 ) Commodity contracts — (6,019 ) (23 ) — (6,042 ) Equity contracts (969 ) (3,155 ) (999 ) — (5,123 ) Foreign exchange contracts (113 ) (9,971 ) (23 ) — (10,107 ) Credit contracts — (342 ) (342 ) — (684 ) Other derivative contracts — — (70 ) — (70 ) Netting — — — 92,286 (5) 92,286 Total derivative liabilities (6) (1,125 ) (105,082 ) (1,474 ) 92,286 (15,395 ) Short sale liabilities: Securities of U.S. Treasury and federal agencies (9,754 ) (968 ) — — (10,722 ) Securities of U.S. states and political subdivisions — — — — — Corporate debt securities — (4,292 ) — — (4,292 ) Equity securities (2,396 ) (2 ) — — (2,398 ) Other securities — (21 ) — — (21 ) Total short sale liabilities (12,150 ) (5,283 ) — — (17,433 ) Other liabilities (excluding derivatives) — — (20 ) — (20 ) Total liabilities recorded at fair value $ (13,275 ) (110,365 ) (1,494 ) 92,286 (32,848 ) (1) The entire balance is collateralized loan obligations. (2) Net gains (losses) from trading activities recognized in the income statement for the first nine months of 2015 and 2014 include $(985) million and $90 million in net unrealized gains (losses) on trading securities held at September 30, 2015 and 2014 , respectively. (3) Balances consist of securities that are mostly investment grade based on ratings received from the ratings agencies or internal credit grades categorized as investment grade if external ratings are not available. The securities are classified as Level 3 due to limited market activity. (4) Includes collateralized debt obligations of $316 million . (5) Represents balance sheet netting of derivative asset and liability balances, related cash collateral and portfolio level counterparty valuation adjustments. See Note 12 (Derivatives) for additional information. (6) Derivative assets and derivative liabilities include contracts qualifying for hedge accounting, economic hedges, and derivatives included in trading assets and trading liabilities, respectively. (continued on following page) (continued from previous page) (in millions) Level 1 Level 2 Level 3 Netting Total December 31, 2014 Trading assets (excluding derivatives) Securities of U.S. Treasury and federal agencies $ 10,506 3,886 — — 14,392 Securities of U.S. states and political subdivisions — 1,537 7 — 1,544 Collateralized loan and other debt obligations (1) — 274 445 — 719 Corporate debt securities — 7,517 54 — 7,571 Mortgage-backed securities — 16,273 — — 16,273 Asset-backed securities — 776 79 — 855 Equity securities 18,512 38 10 — 18,560 Total trading securities (2) 29,018 30,301 595 — 59,914 Other trading assets — 1,398 55 — 1,453 Total trading assets (excluding derivatives) 29,018 31,699 650 — 61,367 Securities of U.S. Treasury and federal agencies 19,899 5,905 — — 25,804 Securities of U.S. states and political subdivisions — 42,667 2,277 (3) — 44,944 Mortgage-backed securities: Federal agencies — 110,089 — — 110,089 Residential — 9,245 24 — 9,269 Commercial — 16,885 109 — 16,994 Total mortgage-backed securities — 136,219 133 — 136,352 Corporate debt securities 83 14,451 252 — 14,786 Collateralized loan and other debt obligations (4) — 24,274 1,087 (3) — 25,361 Asset-backed securities: Auto loans and leases — 31 245 (3) — 276 Home equity loans — 662 — — 662 Other asset-backed securities — 4,189 1,372 (3) — 5,561 Total asset-backed securities — 4,882 1,617 — 6,499 Other debt securities — 20 — — 20 Total debt securities 19,982 228,418 5,366 — 253,766 Marketable equity securities: Perpetual preferred securities (5) 468 569 663 (3) — 1,700 Other marketable equity securities 1,952 24 — — 1,976 Total marketable equity securities 2,420 593 663 — 3,676 Total available-for-sale securities 22,402 229,011 6,029 — 257,442 Mortgages held for sale — 13,252 2,313 — 15,565 Loans held for sale — 1 — — 1 Loans — — 5,788 — 5,788 Mortgage servicing rights (residential) — — 12,738 — 12,738 Derivative assets: Interest rate contracts 27 63,306 365 — 63,698 Commodity contracts — 7,438 23 — 7,461 Equity contracts 4,102 3,544 1,359 — 9,005 Foreign exchange contracts 65 7,339 — — 7,404 Credit contracts — 440 466 — 906 Netting — — — (65,869 ) (6) (65,869 ) Total derivative assets (7) 4,194 82,067 2,213 (65,869 ) 22,605 Other assets — — 2,593 — 2,593 Total assets recorded at fair value $ 55,614 356,030 32,324 (65,869 ) 378,099 Derivative liabilities: Interest rate contracts $ (29 ) (59,958 ) (72 ) — (60,059 ) Commodity contracts — (7,680 ) (22 ) — (7,702 ) Equity contracts (1,290 ) (4,305 ) (1,443 ) — (7,038 ) Foreign exchange contracts (60 ) (7,767 ) — — (7,827 ) Credit contracts — (456 ) (655 ) — (1,111 ) Other derivative contracts — — (44 ) — (44 ) Netting — — — 65,043 (6) 65,043 Total derivative liabilities (7) (1,379 ) (80,166 ) (2,236 ) 65,043 (18,738 ) Short sale liabilities: Securities of U.S. Treasury and federal agencies (7,043 ) (1,636 ) — — (8,679 ) Securities of U.S. states and political subdivisions — (26 ) — — (26 ) Corporate debt securities — (5,055 ) — — (5,055 ) Equity securities (2,259 ) (2 ) — — (2,261 ) Other securities — (73 ) (6 ) — (79 ) Total short sale liabilities (9,302 ) (6,792 ) (6 ) — (16,100 ) Other liabilities (excluding derivatives) — — (28 ) — (28 ) Total liabilities recorded at fair value $ (10,681 ) (86,958 ) (2,270 ) 65,043 (34,866 ) (1) The entire balance is collateralized loan obligations. (2) Net gains from trading activities recognized in the income statement for the year ended December 31, 2014 , include $211 million in net unrealized gains on trading securities held at December 31, 2014 . (3) Balances consist of securities that are mostly investment grade based on ratings received from the ratings agencies or internal credit grades categorized as investment grade if external ratings are not available. The securities are classified as Level 3 due to limited market activity. (4) Includes collateralized debt obligations of $500 million . (5) Perpetual preferred securities include ARS and corporate preferred securities. See Note 7 (Securitizations and Variable Interest Entities) for additional information. (6) Represents balance sheet netting of derivative asset and liability balances, related cash collateral and portfolio level counterparty valuation adjustments. See Note 12 (Derivatives) for additional information. (7) Derivative assets and derivative liabilities include contracts qualifying for hedge accounting, economic hedges, and derivatives included in trading assets and trading liabilities, respectively. Changes in Fair Value Levels We monitor the availability of observable market data to assess the appropriate classification of financial instruments within the fair value hierarchy and transfer between Level 1, Level 2, and Level 3 accordingly. Observable market data includes but is not limited to quoted prices and market transactions. Changes in economic conditions or market liquidity generally will drive changes in availability of observable market data. Changes in availability of observable market data, which also may result in changing the valuation technique used, are generally the cause of transfers between Level 1, Level 2, and Level 3. Transfers into and out of Level 1, Level 2, and Level 3 for the periods presented are provided within the following table. The amounts reported as transfers represent the fair value as of the beginning of the quarter in which the transfer occurred. Transfers Between Fair Value Levels Level 1 Level 2 Level 3 (1) (in millions) In Out In Out In Out Total Quarter ended September 30, 2015 Trading assets (excluding derivatives) $ — (8 ) 10 (10 ) 10 (2 ) — Available-for-sale securities — — — — — — — Mortgages held for sale — — 11 (60 ) 60 (11 ) — Loans — — — — — — — Net derivative assets and liabilities (2) — — (3 ) — — 3 — Short sale liabilities — 1 (1 ) — — — — Total transfers $ — (7 ) 17 (70 ) 70 (10 ) — Quarter ended September 30, 2014 Trading assets (excluding derivatives) $ — — 15 (1 ) 1 (15 ) — Available-for-sale securities — — 218 — — (218 ) — Mortgages held for sale — — 24 (36 ) 36 (24 ) — Loans — — — — — — — Net derivative assets and liabilities (2) — — (16 ) 83 (83 ) 16 — Total transfers $ — — 241 46 (46 ) (241 ) — Nine months ended September 30, 2015 Trading assets (excluding derivatives) $ 16 (11 ) 103 (26 ) 11 (93 ) — Available-for-sale securities (3) — — 76 — — (76 ) — Mortgages held for sale — — 464 (155 ) 155 (464 ) — Loans — — — — — — — Net derivative assets and liabilities (4) — — 49 12 (12 ) (49 ) — Short sale liabilities (1 ) 1 (1 ) 1 — — — Total transfers $ 15 (10 ) 691 (168 ) 154 (682 ) — Nine months ended September 30, 2014 Trading assets (excluding derivatives) $ — — 55 (29 ) 29 (55 ) — Available-for-sale securities — (8 ) 323 (148 ) 148 (315 ) — Mortgages held for sale — — 146 (232 ) 232 (146 ) — Loans — — 49 (270 ) 270 (49 ) — Net derivative assets and liabilities (2) — — (103 ) 83 (83 ) 103 — Total transfers $ — (8 ) 470 (596 ) 596 (462 ) — (1) All transfers in and out of Level 3 are disclosed within the recurring Level 3 rollforward table in this Note. (2) Includes net derivative liabilities that were transferred from Level 3 to Level 2 due to increased observable market data. Also includes net derivative liabilities that were transferred from Level 2 to Level 3 due to a decrease in observable market data. (3) Transfers out of Level 3 exclude $640 million in auction rate perpetual preferred equity securities that were transferred in second quarter 2015 from available-for-sale securities to nonmarketable equity investments in other assets. See Note 6 (Other Assets) for additional information. (4) Includes net derivative assets that were transferred from Level 3 to Level 2 due to increased observable market data. Also includes net derivative liabilities that were transferred from Level 2 to Level 3 due to a decrease in observable market data. The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarter ended September 30, 2015 , are summarized as follows: Total net gains (losses) included in Purchases, sales, issuances and settlements, net (1) Net unrealized gains (losses) included in income related to assets and liabilities held at period end (in millions) Balance, beginning of period Net income Other compre- hensive income Transfers into Level 3 Transfers out of Level 3 Balance, end of period (2) Quarter ended September 30, 2015 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 8 — — 1 — — 9 — Collateralized loan and other debt obligations 407 (3 ) — (14 ) — — 390 — Corporate debt securities 33 (1 ) — 6 10 (2 ) 46 (2 ) Mortgage-backed securities — — — — — — — — Asset-backed securities — — — — — — — — Equity securities 1 — — — — — 1 — Total trading securities 449 (4 ) — (7 ) 10 (2 ) 446 (2 ) Other trading assets 62 (1 ) — (27 ) — — 34 (25 ) Total trading assets (excluding derivatives) 511 (5 ) — (34 ) 10 (2 ) 480 (27 ) (3) Available-for-sale securities: Securities of U.S. states and political subdivisions 1,889 1 1 26 — — 1,917 — Mortgage-backed securities: Residential — — — — — — — — Commercial 103 5 (7 ) (17 ) — — 84 (2 ) Total mortgage-backed securities 103 5 (7 ) (17 ) — — 84 (2 ) Corporate debt securities 334 4 (9 ) 52 — — 381 (4 ) Collateralized loan and other debt obligations 924 71 (76 ) (194 ) — — 725 — Asset-backed securities: Auto loans and leases 260 — (12 ) — — — 248 — Other asset-backed securities 1,320 — (6 ) (74 ) — — 1,240 — Total asset-backed securities 1,580 — (18 ) (74 ) — — 1,488 — Total debt securities 4,830 81 (109 ) (207 ) — — 4,595 (6 ) (4) Marketable equity securities: Perpetual preferred securities — — — — — — — — Other marketable equity securities — — — — — — — — Total marketable equity securities — — — — — — — — (5) Total available-for-sale securities 4,830 81 (109 ) (207 ) — — 4,595 (6 ) Mortgages held for sale 1,623 16 — (226 ) 60 (11 ) 1,462 16 (6) Loans 5,651 (4 ) — (118 ) — — 5,529 (2 ) (6) Mortgage servicing rights (residential) (7) 12,661 (1,337 ) — 454 — — 11,778 (833 ) (6) Net derivative assets and liabilities: Interest rate contracts 252 562 — (371 ) — — 443 219 Commodity contracts 3 1 — — — — 4 2 Equity contracts (185 ) 15 — 63 — 3 (104 ) 109 Foreign exchange contracts — — — — — — — — Credit contracts (117 ) (5 ) — 81 — — (41 ) 7 Other derivative contracts (38 ) (32 ) — — — — (70 ) (32 ) Total derivative contracts (85 ) 541 — (227 ) — 3 232 305 (8) Other assets 2,711 105 — (8 ) — — 2,808 (5 ) (3) Short sale liabilities (1 ) — — 1 — — — — (3) Other liabilities (excluding derivatives) (30 ) — — 10 — — (20 ) — (6) (1) See next page for detail. (2) Represents only net gains (losses) that are due to changes in economic conditions and management’s estimates of fair value and excludes changes due to the collection/realization of cash flows over time. (3) Included in net gains (losses) from trading activities and other noninterest income in the income statement. (4) Included in net gains (losses) from debt securities in the income statement. (5) Included in net gains (losses) from equity investments in the income statement. (6) Included in mortgage banking and other noninterest income in the income statement. (7) For more information on the changes in mortgage servicing rights, see Note 8 (Mortgage Banking Activities). (8) Included in mortgage banking, trading activities, equity investments and other noninterest income in the income statement. (continued on following page) (continued from previous page) The following table presents gross purchases, sales, issuances and settlements related to the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarter ended September 30, 2015 . (in millions) Purchases Sales Issuances Settlements Net Quarter ended September 30, 2015 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 1 — — — 1 Collateralized loan and other debt obligations 152 (166 ) — — (14 ) Corporate debt securities 9 (3 ) — — 6 Mortgage-backed securities — — — — — Asset-backed securities — — — — — Equity securities — — — — — Total trading securities 162 (169 ) — — (7 ) Other trading assets — (26 ) — (1 ) (27 ) Total trading assets (excluding derivatives) 162 (195 ) — (1 ) (34 ) Available-for-sale securities: Securities of U.S. states and political subdivisions — — 261 (235 ) 26 Mortgage-backed securities: Residential — — — — — Commercial — — — (17 ) (17 ) Total mortgage-backed securities — — — (17 ) (17 ) Corporate debt securities 57 (3 ) — (2 ) 52 Collateralized loan and other debt obligations 15 (86 ) — (123 ) (194 ) Asset-backed securities: Auto loans and leases — — — — — Other asset-backed securities 30 — 30 (134 ) (74 ) Total asset-backed securities 30 — 30 (134 ) (74 ) Total debt securities 102 (89 ) 291 (511 ) (207 ) Marketable equity securities: Perpetual preferred securities — — — — — Other marketable equity securities — — — — — Total marketable equity securities — — — — — Total available-for-sale securities 102 (89 ) 291 (511 ) (207 ) Mortgages held for sale 44 (436 ) 246 (80 ) (226 ) Loans 3 — 93 (214 ) (118 ) Mortgage servicing rights (residential) — 6 448 — 454 Net derivative assets and liabilities: Interest rate contracts — — — (371 ) (371 ) Commodity contracts — — — — — Equity contracts — (32 ) — 95 63 Foreign exchange contracts — — — — — Credit contracts 4 — — 77 81 Other derivative contracts — — — — — Total derivative contracts 4 (32 ) — (199 ) (227 ) Other assets 1 — — (9 ) (8 ) Short sale liabilities 1 — — — 1 Other liabilities (excluding derivatives) — — — 10 10 The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarter ended September 30, 2014 , are summarized as follows: Balance, beginning of period Total net gains (losses) included in Purchases, sales, issuances and settlements, net (1) Net unrealized gains (losses) included in income related to assets and liabilities held at period end (in millions) Net income Other compre- hensive income Transfers into Level 3 Transfers out of Level 3 Balance, end of period (2) Quarter ended September 30, 2014 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 8 — — (1 ) — — 7 — Collateralized loan and other debt obligations 581 22 — (109 ) — (11 ) 483 (7 ) Corporate debt securities 62 (6 ) — (15 ) 1 (3 ) 39 (1 ) Mortgage-backed securities 1 — — 2 — — 3 — Asset-backed securities 91 (2 ) — (7 ) — — 82 (2 ) Equity securities 13 — — (3 ) — — 10 — Total trading securities 756 14 — (133 ) 1 (14 ) 624 (10 ) Other trading assets 49 (2 ) — — — (1 ) 46 — Total trading assets (excluding derivatives) 805 12 — (133 ) 1 (15 ) 670 (10 ) (3) Available-for-sale securities: Securities of U.S. states and political subdivisions 3,169 2 (75 ) (226 ) — (218 ) 2,652 — Mortgage-backed securities: Residential 41 — (1 ) (9 ) — — 31 — Commercial 136 12 (9 ) (28 ) — — 111 — Total mortgage-backed securities 177 12 (10 ) (37 ) — — 142 — Corporate debt securities 284 12 (10 ) (29 ) — — 257 — Collateralized loan and other debt obligations 1,326 14 7 (158 ) — — 1,189 — Asset-backed securities: Auto loans and leases 272 — (19 ) — — — 253 — Other asset-backed securities 1,295 2 12 128 — — 1,437 — Total asset-backed securities 1,567 2 (7 ) 128 — — 1,690 — Total debt securities 6,523 42 (95 ) (322 ) — (218 ) 5,930 — (4) Marketable equity securities: Perpetual preferred securities 700 4 (17 ) (19 ) — — 668 — Other marketable equity securities — — — — — — — — Total marketable equity securities 700 4 (17 ) (19 ) — — 668 — (5) Total available-for-sale securities 7,223 46 (112 ) (341 ) — (218 ) 6,598 — Mortgages held for sale 2,396 (30 ) — (95 ) 36 (24 ) 2,283 (31 ) (6) Loans 5,926 (44 ) — (33 ) — — 5,849 (38 ) (6) Mortgage servicing rights (residential) (7) 13,900 (209 ) — 340 — — 14,031 253 (6) Net derivative assets and liabilities: Interest rate contracts 183 165 — (234 ) — — 114 55 Commodity contracts 2 (1 ) — (1 ) — — — — Equity contracts (50 ) 99 — (122 ) (83 ) 16 (140 ) 46 Foreign exchange contracts 2 — — (2 ) — — — — Credit contracts (266 ) 8 — 47 — — (211 ) 10 Other derivative contracts (13 ) (12 ) — — — — (25 ) — Total derivative contracts (142 ) 259 — (312 ) (83 ) 16 (262 ) 111 (8) Other assets 2,005 62 — (6 ) — — 2,061 3 (3) Short sale liabilities — — — (5 ) — — (5 ) — (3) Other liabilities (excluding derivatives) (45 ) (3 ) — 19 — — (29 ) — (6) (1) See next page for detail. (2) Represents only net gains (losses) that are due to changes in economic conditions and management’s estimates of fair value and excludes changes due to the collection/realization of cash flows over time. (3) Included in net gains (losses) from trading activities and other noninterest income in the income statement. (4) Included in net gains (losses) from debt securities in the income statement. (5) Included in net gains (losses) from equity investments in the income statement. (6) Included in mortgage banking and other noninterest income in the income statement. (7) For more information on the changes in mortgage servicing rights, see Note 8 (Mortgage Banking Activities). (8) Included in mortgage banking, trading activities, equity investments and other noninterest income in the income statement. (continued on following page) (continued from previous page) The following table presents gross purchases, sales, issuances and settlements related to the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarter ended September 30, 2014 . (in millions) Purchases Sales Issuances Settlements Net Quarter ended September 30, 2014 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 4 (5 ) — — (1 ) Collateralized loan and other debt obligations 267 (376 ) — — (109 ) Corporate debt securities 36 (45 ) — (6 ) (15 ) Mortgage-backed securities 3 (1 ) — — 2 Asset-backed securities 4 (1 ) — (10 ) (7 ) Equity securities — — — (3 ) (3 ) Total trading securities 314 (428 ) — (19 ) (133 ) Other trading assets — — — — — Total trading assets (excluding derivatives) 314 (428 ) — (19 ) (133 ) Available-for-sale securities: Securities of U.S. states and political subdivisions — — 16 (242 ) (226 ) Mortgage-backed securities: Residential — (9 ) — — (9 ) Commercial — (23 ) — (5 ) (28 ) Total mortgage-backed securities — (32 ) — (5 ) (37 ) Corporate debt securities 3 (23 ) — (9 ) (29 ) Collateralized loan and other debt obligations 1 — — (159 ) (158 ) Asset-backed securities: Auto loans and leases — — — — — Other asset-backed securities — (2 ) 230 (100 ) 128 Total asset-backed securities — (2 ) 230 (100 ) 128 Total debt securities 4 (57 ) 246 (515 ) (322 ) Marketable equity securities: Perpetual preferred securities — — — (19 ) (19 ) Other marketable equity securities — — — — — Total marketable equity securities — — — (19 ) (19 ) Total available-for-sale securities 4 (57 ) 246 (534 ) (341 ) Mortgages held for sale 60 — — (155 ) (95 ) Loans 56 — 103 (192 ) (33 ) Mortgage servicing rights (residential) — — 340 — 340 Net derivative assets and liabilities: Interest rate contracts — — — (234 ) (234 ) Commodity contracts — — — (1 ) (1 ) Equity contracts — (1 ) — (121 ) (122 ) Foreign exchange contracts — — — (2 ) (2 ) Credit contracts — 34 — 13 47 Other derivative contracts — — — — — Total derivative contracts — 33 — (345 ) (312 ) Other assets — — — (6 ) (6 ) Short sale liabilities 4 (9 ) — — (5 ) Other liabilities (excluding derivatives) — — — 19 19 The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the first nine months of 2015 are summarized as follows: Total net gains (losses) included in Purchases, sales, issuances and settlements, net (1) Net unrealized gains (losses) included in income related to assets and liabilities held at period end (in millions) Balance, beginning of period Net income Other compre- hensive income Transfers into Level 3 Transfers out of Level 3 Balance, end of period (2) Nine months ended September 30, 2015 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 7 — — 2 — — 9 — Collateralized loan and other debt obligations 445 39 — (94 ) — — 390 5 Corporate debt securities 54 1 — (8 ) 10 (11 ) 46 (2 ) Mortgage-backed securities — — — — — — — — Asset-backed securities 79 16 — (14 ) — (81 ) — — Equity securities 10 1 — (10 ) — — 1 — Total trading securities 595 57 — (124 ) 10 (92 ) 446 3 Other trading assets 55 4 — (25 ) 1 (1 ) 34 (15 ) Total trading assets (excluding derivatives) 650 61 — (149 ) 11 (93 ) 480 (12 ) (3) Available-for-sale securities: Securities of U.S. states and political subdivisions 2,277 4 (14 ) (274 ) — (76 ) 1,917 (5 ) Mortgage-backed securities: Residential 24 4 (6 ) (22 ) — — — — Commercial 109 6 (9 ) (22 ) — — 84 (2 ) Total mortgage-backed securities 133 10 (15 ) (44 ) — — 84 (2 ) Corporate debt securities 252 7 (12 ) 134 — — 381 (2 ) Collateralized loan and other debt obligations 1,087 132 (87 ) (407 ) — — 725 — Asset-backed securities: Auto loans and leases 245 — 3 — — — 248 — Other asset-backed securities 1,372 2 (15 ) (119 ) — — 1,240 — Total asset-backed securities 1,617 2 (12 ) (119 ) — — 1,488 — Total debt securities 5,366 155 (140 ) (710 ) — (76 ) 4,595 (9 ) (4) Marketable equity securities: Perpetual preferred securities 663 3 (2 ) (24 ) — (640 ) — — Other marketable equity securities — — — — — — — — Total marketable equity securities 663 3 (2 ) (24 ) — (640 ) — — (5) Total available-for-sale securities 6,029 158 (142 ) (734 ) — (716 ) 4,595 (9 ) Mortgages held for sale 2,313 53 — (595 ) 155 (464 ) 1,462 14 (6) Loans 5,788 (51 ) — (208 ) — — 5,529 (37 ) (6) Mortgage servicing rights (residential) (7) 12,738 (2,144 ) — 1,184 — — 11,778 (553 ) (6) Net derivative assets and liabilities: Interest rate contracts 293 987 — (837 ) — — 443 240 Commodity contracts 1 3 — 2 (2 ) — 4 4 Equity contracts (84 ) 65 — (26 ) (10 ) (49 ) (104 ) 96 Foreign exchange contracts — — — — — — — — Credit contracts (189 ) (4 ) — 152 — — (41 ) 2 Other derivative contracts (44 ) (26 ) — — — — (70 ) (26 ) Total derivative contracts (23 ) 1,025 — (709 ) (12 ) (49 ) 232 316 (8) Other assets 2,593 136 — 79 — — 2,808 (4 ) (3) Short sale liabilities (6 ) — — 6 — — — — (3) Other liabilities (excluding derivatives) (28 ) (2 ) — 10 — — (20 ) — (6) (1) See next page for detail. (2) Represents only net gains (losses) that are due to changes in economic conditions and management’s estimates of fair value and excludes changes due to the collection/realization of cash flows over time. (3) Included in net gains (losses) from trading activities and other noninterest income in the income statement. (4) Included in net gains (losses) from debt securities in the income statement. (5) Included in net gains (losses) from equity investments in the income statement. (6) Included in mortgage banking and other noninterest income in the income statement. (7) For more information on the changes in mortgage servicing rights, see Note 8 (Mortgage Banking Activities). (8) Included in mortgage banking, trading activities, equity investments and other noninterest income in the income statement. (continued on following page) (continued from previous page) The following table presents gross purchases, sales, issuances and settlements related to the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the first nine months of 2015 . (in millions) Purchases Sales Issuances Settlements Net Nine months ended September 30, 2015 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 4 (2 ) — — 2 Collateralized loan and other debt obligations 1,060 (1,154 ) — — (94 ) Corporate debt securities 36 (44 ) — — (8 ) Mortgage-backed securities — — — — — Asset-backed securities — (5 ) — (9 ) (14 ) Equity securities — — — (10 ) (10 |
Preferred Stock
Preferred Stock | 9 Months Ended |
Sep. 30, 2015 | |
Preferred Stock [Abstract] | |
Preferred Stock | Note 14: Preferred Stock We are authorized to issue 20 million shares of preferred stock and 4 million shares of preference stock, both without par value. Preferred shares outstanding rank senior to common shares both as to dividends and liquidation preference but have no general voting rights. We have not issued any preference shares under this authorization. If issued, preference shares would be limited to one vote per share. Our total authorized, issued and outstanding preferred stock is presented in the following two tables along with the Employee Stock Ownership Plan (ESOP) Cumulative Convertible Preferred Stock. September 30, 2015 December 31, 2014 Liquidation preference per share Shares authorized and designated Liquidation preference per share Shares authorized and designated DEP Shares Dividend Equalization Preferred Shares (DEP) $ 10 97,000 $ 10 97,000 Series G 7.25% Class A Preferred Stock 15,000 50,000 15,000 50,000 Series H Floating Class A Preferred Stock 20,000 50,000 20,000 50,000 Series I Floating Class A Preferred Stock 100,000 25,010 100,000 25,010 Series J 8.00% Non-Cumulative Perpetual Class A Preferred Stock 1,000 2,300,000 1,000 2,300,000 Series K 7.98% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 1,000 3,500,000 1,000 3,500,000 Series L 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock 1,000 4,025,000 1,000 4,025,000 Series N 5.20% Non-Cumulative Perpetual Class A Preferred Stock 25,000 30,000 25,000 30,000 Series O 5.125% Non-Cumulative Perpetual Class A Preferred Stock 25,000 27,600 25,000 27,600 Series P 5.25% Non-Cumulative Perpetual Class A Preferred Stock 25,000 26,400 25,000 26,400 Series Q 5.85% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 25,000 69,000 25,000 69,000 Series R 6.625% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 25,000 34,500 25,000 34,500 Series S 5.900% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 25,000 80,000 25,000 80,000 Series T 6.000% Non-Cumulative Perpetual Class A Preferred Stock 25,000 32,200 25,000 32,200 Series U 5.875% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 25,000 80,000 — — Series V 6.000% Non-Cumulative Perpetual Class A Preferred Stock 25,000 40,000 — — ESOP Cumulative Convertible Preferred Stock (1) — 1,461,819 — 1,251,287 Total 11,928,529 11,597,997 (1) See the ESOP Cumulative Convertible Preferred Stock section of this Note for additional information about the liquidation preference for the ESOP Cumulative Convertible Preferred Stock. September 30, 2015 December 31, 2014 (in millions, except shares) Shares issued and outstanding Par value Carrying value Discount Shares issued and outstanding Par value Carrying value Discount DEP Shares Dividend Equalization Preferred Shares (DEP) 96,546 $ — — — 96,546 $ — — — Series I (1) Floating Class A Preferred Stock 25,010 2,501 2,501 — 25,010 2,501 2,501 — Series J (1) 8.00% Non-Cumulative Perpetual Class A Preferred Stock 2,150,375 2,150 1,995 155 2,150,375 2,150 1,995 155 Series K (1) 7.98% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 3,352,000 3,352 2,876 476 3,352,000 3,352 2,876 476 Series L (1) 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock 3,968,000 3,968 3,200 768 3,968,000 3,968 3,200 768 Series N (1) 5.20% Non-Cumulative Perpetual Class A Preferred Stock 30,000 750 750 — 30,000 750 750 — Series O (1) 5.125% Non-Cumulative Perpetual Class A Preferred Stock 26,000 650 650 — 26,000 650 650 — Series P (1) 5.25% Non-Cumulative Perpetual Class A Preferred Stock 25,000 625 625 — 25,000 625 625 — Series Q (1) 5.85% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 69,000 1,725 1,725 — 69,000 1,725 1,725 — Series R (1) 6.625% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 33,600 840 840 — 33,600 840 840 — Series S (1) 5.900% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 80,000 2,000 2,000 — 80,000 2,000 2,000 — Series T (1) 6.000% Non-Cumulative Perpetual Class A Preferred Stock 32,000 800 800 — 32,000 800 800 — Series U (1) 5.875% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 80,000 2,000 2,000 — — — — — Series V (1) 6.000% Non-Cumulative Perpetual Class A Preferred Stock 40,000 1,000 1,000 — — — — — ESOP Cumulative Convertible Preferred Stock 1,461,819 1,462 1,462 — 1,251,287 1,251 1,251 — Total 11,469,350 $ 23,823 22,424 1,399 11,138,818 $ 20,612 19,213 1,399 (1) Preferred shares qualify as Tier 1 capital. In January 2015, we issued 2 million Depositary Shares, each representing a 1/25th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series U, for an aggregate public offering price of $2.0 billion . In September 2015, we issued 40 million Depositary Shares, each representing a 1/1,000th interest in a share of the Non-Cumulative Perpetual Class A Preferred Stock, Series V, for an aggregate public offering price of $1.0 billion . See Note 7 (Securitizations and Variable Interest Entities) for additional information on our trust preferred securities. We do not have a commitment to issue Series G or H preferred stock. ESOP Cumulative Convertible Preferred Stock All shares of our ESOP Cumulative Convertible Preferred Stock (ESOP Preferred Stock) were issued to a trustee acting on behalf of the Wells Fargo & Company 401(k) Plan (the 401(k) Plan). Dividends on the ESOP Preferred Stock are cumulative from the date of initial issuance and are payable quarterly at annual rates based upon the year of issuance. Each share of ESOP Preferred Stock released from the unallocated reserve of the 401(k) Plan is converted into shares of our common stock based on the stated value of the ESOP Preferred Stock and the then current market price of our common stock. The ESOP Preferred Stock is also convertible at the option of the holder at any time, unless previously redeemed. We have the option to redeem the ESOP Preferred Stock at any time, in whole or in part, at a redemption price per share equal to the higher of (a) $1,000 per share plus accrued and unpaid dividends or (b) the fair market value, as defined in the Certificates of Designation for the ESOP Preferred Stock. Shares issued and outstanding Carrying value Adjustable dividend rate (in millions, except shares) Sep 30, Dec 31, Sep 30, Dec 31, Minimum Maximum ESOP Preferred Stock $1,000 liquidation preference per share 2015 394,841 — $ 395 — 8.90 % 9.90 2014 318,791 352,158 319 352 8.70 9.70 2013 251,304 288,000 251 288 8.50 9.50 2012 166,353 189,204 166 189 10.00 11.00 2011 177,614 205,263 178 205 9.00 10.00 2010 113,234 141,011 113 141 9.50 10.50 2008 28,972 42,204 29 42 10.50 11.50 2007 10,710 24,728 11 25 10.75 11.75 2006 — 8,719 — 9 10.75 11.75 Total ESOP Preferred Stock (1) 1,461,819 1,251,287 $ 1,462 1,251 Unearned ESOP shares (2) $ (1,590 ) (1,360 ) (1) At September 30, 2015 and December 31, 2014 , additional paid-in capital included $128 million and $109 million , respectively, related to ESOP preferred stock. (2) We recorded a corresponding charge to unearned ESOP shares in connection with the issuance of the ESOP Preferred Stock. The unearned ESOP shares are reduced as shares of the ESOP Preferred Stock are committed to be released. |
Employee Benefits
Employee Benefits | 9 Months Ended |
Sep. 30, 2015 | |
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | |
Employee Benefits | Note 15: Employee Benefits We sponsor a frozen noncontributory qualified defined benefit retirement plan called the Wells Fargo & Company Cash Balance Plan (Cash Balance Plan), which covers eligible employees of Wells Fargo. The Cash Balance Plan was frozen on July 1, 2009, and no new benefits accrue after that date. The net periodic benefit cost was: 2015 2014 Pension benefits Pension benefits (in millions) Qualified Non-qualified Other benefits Qualified Non-qualified Other benefits Quarter ended September 30, Service cost $ 1 — 1 1 — 1 Interest cost 107 5 11 116 6 12 Expected return on plan assets (161 ) — (8 ) (157 ) — (9 ) Amortization of net actuarial loss (gain) 27 5 (1 ) 22 4 (7 ) Amortization of prior service credit — — (1 ) — — (1 ) Settlement loss — — — — — — Net periodic benefit cost (income) $ (26 ) 10 2 (18 ) 10 (4 ) Nine months ended September 30, Service cost $ 2 — 5 1 — 5 Interest cost 321 18 32 349 20 32 Expected return on plan assets (483 ) — (26 ) (472 ) — (27 ) Amortization of net actuarial loss (gain) 81 14 (3 ) 68 9 (21 ) Amortization of prior service credit — — (2 ) — — (2 ) Settlement loss — 13 — — 2 — Net periodic benefit cost (income) $ (79 ) 45 6 (54 ) 31 (13 ) |
Earnings Per Common Share
Earnings Per Common Share | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | Note 16: Earnings Per Common Share The table below shows earnings per common share and diluted earnings per common share and reconciles the numerator and denominator of both earnings per common share calculations. Quarter ended September 30, Nine months ended September 30, (in millions, except per share amounts) 2015 2014 2015 2014 Wells Fargo net income $ 5,796 5,729 $ 17,319 17,348 Less: Preferred stock dividends and other 353 321 1,052 909 Wells Fargo net income applicable to common stock (numerator) $ 5,443 5,408 $ 16,267 16,439 Earnings per common share Average common shares outstanding (denominator) 5,125.8 5,225.9 5,145.9 5,252.2 Per share $ 1.06 1.04 $ 3.16 3.13 Diluted earnings per common share Average common shares outstanding 5,125.8 5,225.9 5,145.9 5,252.2 Add: Stock options 25.5 32.3 27.3 33.4 Restricted share rights 29.0 38.9 33.0 41.4 Warrants 13.5 13.3 14.1 12.2 Diluted average common shares outstanding (denominator) 5,193.8 5,310.4 5,220.3 5,339.2 Per share $ 1.05 1.02 $ 3.12 3.08 The following table presents any outstanding options and warrants to purchase shares of common stock that were anti-dilutive (the exercise price was higher than the weighted-average market price), and therefore not included in the calculation of diluted earnings per common share. Weighted-average shares Quarter ended September 30, Nine months ended September 30, (in millions) 2015 2014 2015 2014 Options 5.0 7.2 5.9 8.2 |
Other Comprehensive Income
Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2015 | |
Cumulative Other Comprehensive Income Balances [Abstract] [Abstract] | |
Other Comprehensive Income | Note 17: Other Comprehensive Income The following table provides the components of other comprehensive income (OCI), reclassifications to net income by income statement line item, and the related tax effects. Quarter ended September 30, Nine months ended September 30, 2015 2014 2015 2014 (in millions) Before tax Tax effect Net of tax Before tax Tax effect Net of tax Before tax Tax effect Net of tax Before tax Tax effect Net of tax Investment securities: Net unrealized gains (losses) arising during the period $ (441 ) 148 (293 ) (944 ) 260 (684 ) (2,017 ) 779 (1,238 ) 3,866 (1,569 ) 2,297 Reclassification of net (gains) losses to net income: Interest income on investment securities (1) 1 (1 ) — (5 ) 2 (3 ) (1 ) — (1 ) (31 ) 12 (19 ) Net gains on debt securities (147 ) 52 (95 ) (253 ) 96 (157 ) (606 ) 225 (381 ) (407 ) 154 (253 ) Net gains from equity investments (288 ) 107 (181 ) (403 ) 152 (251 ) (345 ) 128 (217 ) (767 ) 289 (478 ) Other noninterest income (5 ) 2 (3 ) — — — (5 ) 2 (3 ) — — — Subtotal reclassifications to net income (439 ) 160 (279 ) (661 ) 250 (411 ) (957 ) 355 (602 ) (1,205 ) 455 (750 ) Net change (880 ) 308 (572 ) (1,605 ) 510 (1,095 ) (2,974 ) 1,134 (1,840 ) 2,661 (1,114 ) 1,547 Derivatives and hedging activities: Net unrealized gains (losses) arising during the period 1,769 (667 ) 1,102 (34 ) 13 (21 ) 2,233 (842 ) 1,391 222 (84 ) 138 Reclassification of net (gains) losses to net income: Interest income on investment securities — — — — — — (2 ) 1 (1 ) (1 ) 1 — Interest income on loans (297 ) 112 (185 ) (133 ) 49 (84 ) (806 ) 304 (502 ) (387 ) 145 (242 ) Interest expense on long-term debt 4 (2 ) 2 6 (2 ) 4 13 (5 ) 8 40 (15 ) 25 Subtotal reclassifications to net income (293 ) 110 (183 ) (127 ) 47 (80 ) (795 ) 300 (495 ) (348 ) 131 (217 ) Net change 1,476 (557 ) 919 (161 ) 60 (101 ) 1,438 (542 ) 896 (126 ) 47 (79 ) Defined benefit plans adjustments: Net actuarial losses arising during the period — — — — — — (11 ) 4 (7 ) (12 ) 5 (7 ) Reclassification of amounts to net periodic benefit costs (2): Amortization of net actuarial loss 31 (12 ) 19 19 (8 ) 11 92 (35 ) 57 56 (22 ) 34 Settlements and other (1 ) 1 — (1 ) 1 — 11 (4 ) 7 — — — Subtotal reclassifications to net periodic benefit costs 30 (11 ) 19 18 (7 ) 11 103 (39 ) 64 56 (22 ) 34 Net change 30 (11 ) 19 18 (7 ) 11 92 (35 ) 57 44 (17 ) 27 Foreign currency translation adjustments: Net unrealized losses arising during the period (59 ) (8 ) (67 ) (32 ) (3 ) (35 ) (104 ) (13 ) (117 ) (32 ) (3 ) (35 ) Reclassification of net losses to net income: Noninterest income — — — — — — — — — 6 — 6 Net change (59 ) (8 ) (67 ) (32 ) (3 ) (35 ) (104 ) (13 ) (117 ) (26 ) (3 ) (29 ) Other comprehensive income (loss) $ 567 (268 ) 299 (1,780 ) 560 (1,220 ) (1,548 ) 544 (1,004 ) 2,553 (1,087 ) 1,466 Less: Other comprehensive income (loss) from noncontrolling interests, net of tax (22 ) (221 ) 125 (266 ) Wells Fargo other comprehensive income (loss), net of tax $ 321 (999 ) (1,129 ) 1,732 (1) Represents net unrealized gains and losses amortized over the remaining lives of securities that were transferred from the available-for-sale portfolio to the held-to-maturity portfolio. (2) These items are included in the computation of net periodic benefit cost, which is recorded in employee benefits expense (see Note 15 (Employee Benefits) for additional details). Cumulative OCI balances were: (in millions) Investment securities Derivatives and hedging activities Defined benefit plans adjustments Foreign currency translation adjustments Cumulative other compre- hensive income Quarter ended September 30, 2015 Balance, beginning of period $ 3,509 310 (1,665 ) (86 ) 2,068 Net unrealized gains (losses) arising during the period (293 ) 1,102 — (67 ) 742 Amounts reclassified from accumulated other comprehensive income (279 ) (183 ) 19 — (443 ) Net change (572 ) 919 19 (67 ) 299 Less: Other comprehensive loss from noncontrolling interests (20 ) — — (2 ) (22 ) Balance, end of period $ 2,957 1,229 (1,646 ) (151 ) 2,389 Quarter ended September 30, 2014 Balance, beginning of period $ 5,025 102 (1,037 ) 27 4,117 Net unrealized losses arising during the period (684 ) (21 ) — (35 ) (740 ) Amounts reclassified from accumulated other comprehensive income (411 ) (80 ) 11 — (480 ) Net change (1,095 ) (101 ) 11 (35 ) (1,220 ) Less: Other comprehensive loss from noncontrolling interests (221 ) — — — (221 ) Balance, end of period $ 4,151 1 (1,026 ) (8 ) 3,118 Nine months ended September 30, 2015 Balance, beginning of period $ 4,926 333 (1,703 ) (38 ) 3,518 Net unrealized gains (losses) arising during the period (1,238 ) 1,391 (7 ) (117 ) 29 Amounts reclassified from accumulated other comprehensive income (602 ) (495 ) 64 — (1,033 ) Net change (1,840 ) 896 57 (117 ) (1,004 ) Less: Other comprehensive income (loss) from noncontrolling interests 129 — — (4 ) 125 Balance, end of period $ 2,957 1,229 (1,646 ) (151 ) 2,389 Nine months ended September 30, 2014 Balance, beginning of period $ 2,338 80 (1,053 ) 21 1,386 Net unrealized gains (losses) arising during the period 2,297 138 (7 ) (35 ) 2,393 Amounts reclassified from accumulated other comprehensive income (750 ) (217 ) 34 6 (927 ) Net change 1,547 (79 ) 27 (29 ) 1,466 Less: Other comprehensive loss from noncontrolling interests (266 ) — — — (266 ) Balance, end of period $ 4,151 1 (1,026 ) (8 ) 3,118 |
Operating Segments
Operating Segments | 9 Months Ended |
Sep. 30, 2015 | |
Segment Reporting [Abstract] | |
Operating Segments | Note 18: Operating Segments We have three reportable operating segments: Community Banking; Wholesale Banking; and Wealth and Investment Management (WIM) (formerly Wealth, Brokerage and Retirement). We define our operating segments by product type and customer segment and their results are based on our management accounting process, for which there is no comprehensive, authoritative guidance equivalent to GAAP for financial accounting. The management accounting process measures the performance of the operating segments based on our management structure and is not necessarily comparable with similar information for other financial services companies. If the management structure and/or the allocation process changes, allocations, transfers and assignments may change. Effective third quarter 2015, we realigned our asset management business from Wholesale Banking to WIM, and realigned our reinsurance business from WIM and our strategic auto investments from Community Banking to Wholesale Banking. Results for these operating segments were revised for prior periods to reflect the impact of these realignments. For a description of our operating segments, including the underlying management accounting process, see Note 24 (Operating Segments) to Financial Statements in our 2014 Form 10-K. Community Banking Wholesale Banking Wealth and Investment Management Other (1) Consolidated Company (income/expense in millions, average balances in billions) 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 Quarter ended Sep 30, Net interest income (2) $ 7,822 7,455 3,128 3,061 887 753 (380 ) (328 ) 11,457 10,941 Provision (reversal of provision) for credit losses 658 465 45 (85 ) (6 ) (25 ) 6 13 703 368 Noninterest income 5,796 5,356 2,442 2,606 2,991 3,052 (811 ) (742 ) 10,418 10,272 Noninterest expense 7,219 7,049 3,036 2,997 2,909 2,945 (765 ) (743 ) 12,399 12,248 Income (loss) before income tax expense (benefit) 5,741 5,297 2,489 2,755 975 885 (432 ) (340 ) 8,773 8,597 Income tax expense (benefit) 1,861 1,603 722 830 371 338 (164 ) (129 ) 2,790 2,642 Net income (loss) before noncontrolling interests 3,880 3,694 1,767 1,925 604 547 (268 ) (211 ) 5,983 5,955 Less: Net income (loss) from noncontrolling interests 194 233 (5 ) (4 ) (2 ) (3 ) — — 187 226 Net income (loss) (3) $ 3,686 3,461 1,772 1,929 606 550 (268 ) (211 ) 5,796 5,729 Average loans $ 511.0 498.3 363.1 316.8 61.1 52.6 (40.1 ) (34.5 ) 895.1 833.2 Average assets 977.1 944.8 652.6 562.0 192.6 185.2 (75.9 ) (74.1 ) 1,746.4 1,617.9 Average core deposits 690.5 646.9 311.3 278.3 163.0 153.7 (71.2 ) (66.7 ) 1,093.6 1,012.2 Nine months ended Sep 30, Net interest income (2) $ 23,051 22,075 9,215 9,021 2,545 2,221 (1,098 ) (970 ) 33,713 32,347 Provision (reversal of provision) for credit losses 1,638 1,163 (19 ) (227 ) (19 ) (58 ) 11 32 1,611 910 Noninterest income 15,980 15,883 7,902 7,691 9,285 9,135 (2,409 ) (2,152 ) 30,758 30,557 Noninterest expense 21,442 20,839 9,191 8,843 9,069 8,927 (2,327 ) (2,219 ) 37,375 36,390 Income (loss) before income tax expense (benefit) 15,951 15,956 7,945 8,096 2,780 2,487 (1,191 ) (935 ) 25,485 25,604 Income tax expense (benefit) 4,921 4,781 2,309 2,418 1,054 944 (452 ) (355 ) 7,832 7,788 Net income (loss) before noncontrolling interests 11,030 11,175 5,636 5,678 1,726 1,543 (739 ) (580 ) 17,653 17,816 Less: Net income (loss) from noncontrolling interests 337 469 (8 ) (3 ) 5 2 — — 334 468 Net income (loss) (3) $ 10,693 10,706 5,644 5,681 1,721 1,541 (739 ) (580 ) 17,319 17,348 Average loans $ 507.8 502.7 348.4 309.2 59.1 51.2 (38.9 ) (33.7 ) 876.4 829.4 Average assets 984.0 914.5 628.6 544.0 191.1 185.4 (75.7 ) (74.3 ) 1,728.0 1,569.6 Average core deposits 681.8 637.8 306.2 267.7 161.4 154.3 (70.6 ) (67.1 ) 1,078.8 992.7 (1) Includes items not specific to a business segment and elimination of certain items that are included in more than one business segment, substantially all of which represents products and services for wealth management customers provided in Community Banking stores. (2) Net interest income is the difference between interest earned on assets and the cost of liabilities to fund those assets. Interest earned includes actual interest earned on segment assets and, if the segment has excess liabilities, interest credits for providing funding to other segments. The cost of liabilities includes interest expense on segment liabilities and, if the segment does not have enough liabilities to fund its assets, a funding charge based on the cost of excess liabilities from another segment. (3) Represents segment net income (loss) for Community Banking; Wholesale Banking; and Wealth and Investment Management segments and Wells Fargo net income for the consolidated company. |
Regulatory and Agency Capital R
Regulatory and Agency Capital Requirements | 9 Months Ended |
Sep. 30, 2015 | |
Banking and Thrift [Abstract] | |
Regulatory and Agency Capital Requirements | Note 19: Regulatory and Agency Capital Requirements The Company and each of its subsidiary banks are subject to regulatory capital adequacy requirements promulgated by federal bank regulatory agencies. The Federal Reserve establishes capital requirements for the consolidated financial holding company, and the OCC has similar requirements for the Company’s national banks, including Wells Fargo Bank, N.A. (the Bank). The following table presents regulatory capital information for Wells Fargo & Company and the Bank using Basel III, which increased minimum required capital ratios, and introduced a minimum Common Equity Tier 1 (CET1) ratio. Beginning second quarter 2015, our capital ratios were calculated in accordance with the Basel III Standardized and Advanced Approaches. Accordingly, we must report the lower of our CET1, tier 1 and total capital ratios calculated under the Standardized Approach and under the Advanced Approach in the assessment of our capital adequacy. The information presented for 2015 reflects the transition to determining risk-weighted assets (RWAs) under the Basel III Standardized and Advanced Approaches with Transition Requirements from RWAs determined using general risk-based capital rules (General Approach) effective in 2014. The Standardized and General Approaches each apply assigned risk weights to broad risk categories but many of the risk categories and/or weights were changed by Basel III for the Standardized Approach and will generally result in higher risk-weighted assets than from those prescribed for the General Approach. Calculation of RWAs under the Advanced Approach differs by requiring applicable banks to utilize a risk-sensitive methodology, which relies upon the use of internal credit models, and includes an operational risk component. The Basel III revised definition of capital, and changes are being phased-in effective January 1, 2014, through the end of 2021. The Bank is an approved seller/servicer of mortgage loans and is required to maintain minimum levels of shareholders’ equity, as specified by various agencies, including the United States Department of Housing and Urban Development, GNMA, FHLMC and FNMA. At September 30, 2015 , the Bank met these requirements. Other subsidiaries, including the Company’s insurance and broker-dealer subsidiaries, are also subject to various minimum capital levels, as defined by applicable industry regulations. The minimum capital levels for these subsidiaries, and related restrictions, are not significant to our consolidated operations. Wells Fargo & Company Wells Fargo Bank, N.A. Advanced Approach Standardized Approach General Advanced Approach Standardized General Advanced & Standardized Approach Minimum (in billions, except ratios) Sep 30, Sep 30, Dec 31, Sep 30, Sep 30, Dec 31, Sep 30, Regulatory capital: Common equity tier 1 $ 142.9 $ 142.9 137.1 124.9 124.9 119.9 Tier 1 163.2 163.2 154.7 124.9 124.9 119.9 Total 192.2 202.9 192.9 138.5 148.2 144.0 Assets: Risk-weighted $ 1,293.9 $ 1,314.4 1,242.5 1,112.6 1,195.0 1,142.5 Adjusted average (2) 1,715.5 1,715.5 1,637.0 1,546.3 1,546.3 1,487.6 Regulatory capital ratios: Common equity tier 1 capital 11.05 % 10.87 11.04 11.22 10.45 10.49 4.50 Tier 1 capital 12.61 12.42 12.45 11.22 10.45 10.49 6.00 Total capital 14.86 15.44 15.53 12.45 12.40 12.61 8.00 Tier 1 leverage (2) 9.51 9.51 9.45 8.08 8.08 8.06 4.00 (1) As defined by the regulations issued by the Federal Reserve, OCC and FDIC, which apply to Wells Fargo & Company and Wells Fargo Bank, N.A.. (2) The leverage ratio consists of Tier 1 capital divided by quarterly average total assets, excluding goodwill and certain other items. The minimum leverage ratio guideline is 3% for banking organizations that do not anticipate significant growth and that have well-diversified risk, excellent asset quality, high liquidity, good earnings, effective management and monitoring of market risk and, in general, are considered top-rated, strong banking organizations. |
Summary of Significant Accoun29
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2015 | |
Significant Accounting Policies [Line Items] | |
Nature of Operations | Wells Fargo & Company is a diversified financial services company. We provide banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance through banking stores, the internet and other distribution channels to consumers, businesses and institutions in all 50 states, the District of Columbia, and in foreign countries. When we refer to “Wells Fargo,” “the Company,” “we,” “our” or “us,” we mean Wells Fargo & Company and Subsidiaries (consolidated). Wells Fargo & Company (the Parent) is a financial holding company and a bank holding company. We also hold a majority interest in a real estate investment trust, which has publicly traded preferred stock outstanding. |
Use of Estimates | Our accounting and reporting policies conform with U.S. generally accepted accounting principles (GAAP) and practices in the financial services industry. For discussion of our significant accounting policies, see Note 1 (Summary of Significant Accounting Policies) in our Annual Report on Form 10-K for the year ended December 31, 2014 (2014 Form 10-K). There were no material changes to these policies in first nine months of 2015 . To prepare the financial statements in conformity with GAAP, management must make estimates based on assumptions about future economic and market conditions (for example, unemployment, market liquidity, real estate prices, etc.) that affect the reported amounts of assets and liabilities at the date of the financial statements and income and expenses during the reporting period and the related disclosures. Although our estimates contemplate current conditions and how we expect them to change in the future, it is reasonably possible that actual conditions could be worse than anticipated in those estimates, which could materially affect our results of operations and financial condition. Management has made significant estimates in several areas, including allowance for credit losses and purchased credit-impaired (PCI) loans (Note 5 (Loans and Allowance for Credit Losses)), valuations of residential mortgage servicing rights (MSRs) (Note 7 (Securitizations and Variable Interest Entities) and Note 8 (Mortgage Banking Activities)) and financial instruments (Note 13 (Fair Values of Assets and Liabilities)), and income taxes. Actual results could differ from those estimates. |
Comparability of Prior Year Financial Data | These unaudited interim financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the periods presented. These adjustments are of a normal recurring nature, unless otherwise disclosed in this Form 10-Q. The results of operations in the interim financial statements do not necessarily indicate the results that may be expected for the full year. The interim financial information should be read in conjunction with our 2014 Form 10-K. |
Accounting Standards Adopted in 2015 | Accounting Standards Adopted in 2015 In first quarter 2015, we adopted the following new accounting guidance: • A ccounting Standards Update (ASU or Update) 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures ; • ASU 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity ; and • ASU 2014-01, Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects . |
Private Share Repurchases | Private Share Repurchases From time to time we enter into private forward repurchase transactions with unrelated third parties to complement our open-market common stock repurchase strategies, to allow us to manage our share repurchases in a manner consistent with our capital plans, currently submitted under the 2015 Comprehensive Capital Analysis and Review (CCAR), and to provide an economic benefit to the Company. Our payments to the counterparties for these contracts are recorded in permanent equity in the quarter paid and are not subject to re-measurement. The classification of the up-front payments as permanent equity assures that we have appropriate repurchase timing consistent with our 2015 Capital Plan, which contemplated a fixed dollar amount available per quarter for share repurchases pursuant to Federal Reserve Board (FRB) supervisory guidance. In return, the counterparty agrees to deliver a variable number of shares based on a per share discount to the volume-weighted average stock price over the contract period. There are no scenarios where the contracts would not either physically settle in shares or allow us to choose the settlement method. Our total number of outstanding shares of common stock is not reduced until settlement of the private share repurchase contract. We had no unsettled private share repurchase contracts at September 30, 2015 . At September 30, 2014 , we had a $1.0 billion private repurchase contract outstanding that settled in fourth quarter 2014 for 19.8 million shares of common stock. |
Subsequent Events | SUBSEQUENT EVENTS We have evaluated the effects of events that have occurred subsequent to September 30, 2015 , and there have been no material events that would require recognition in our third quarter 2015 consolidated financial statements or disclosure in the Notes to the consolidated financial statements, except for a business acquisition announced on October 13, 2015, as discussed in Note 2 (Business Combinations). |
Accounting Standards Update 2014-11 [Member] | |
Significant Accounting Policies [Line Items] | |
Accounting Standards Adopted in 2015 | ASU 2014-11 requires repurchase-to-maturity transactions to be accounted for as secured borrowings versus sales. The guidance also requires separate accounting for transfers of financial assets that are executed contemporaneously with repurchase agreements. The Update also includes new disclosures for transfers accounted for as sales and for repurchase agreements and similar arrangements, such as classes of collateral pledged for gross obligations and the remaining contractual maturity of repurchase agreements. We adopted the accounting changes in first quarter 2015 with no impact to our consolidated financial statements or disclosures. We adopted the collateral and remaining contractual maturity disclosures for repurchase and similar agreements in second quarter 2015. For additional information, see Note 10 (Guarantees, Pledged Assets and Collateral). |
Accounting Standards Update 2014-08 [Member] | |
Significant Accounting Policies [Line Items] | |
Accounting Standards Adopted in 2015 | ASU 2014-08 changes the definition and reporting requirements for discontinued operations. Under the new guidance, an entity’s disposal of a component or group of components must be reported in discontinued operations if the disposal is a strategic shift that has or will have a significant effect on the entity’s operations and financial results. We adopted these changes in first quarter 2015 with prospective application. This Update did not have a material impact on our consolidated financial statements. |
Accounting Standards Update 2014-01 [Member] | |
Significant Accounting Policies [Line Items] | |
Accounting Standards Adopted in 2015 | ASU 2014-01 amends the accounting guidance for investments in affordable housing projects that qualify for the low-income housing tax credits. The Update requires incremental disclosures for all entities that invest in qualified affordable housing projects. Additionally companies may make an accounting election to amortize the cost of their investments in proportion to the tax benefits received if certain criteria are met and present the amortization as a component of income tax expense. We adopted the new disclosure requirements in first quarter 2015 (see Note 6 (Other Assets)) and will continue our previous accounting for these investments rather than make the alternative election to amortize the initial cost of the investments in proportion to the tax benefits received. |
Summary of Significant Accoun30
Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
Supplemental Cash Flow Information | Significant noncash activities are presented below. Nine months ended September 30, (in millions) 2015 2014 Trading assets retained from securitization of MHFS $ 34,994 18,717 Transfers from loans to MHFS 7,219 9,035 Transfers from loans to LHFS 90 9,842 Transfers from loans to foreclosed and other assets 2,471 3,228 Transfers from available-for-sale to held-to-maturity securities 4,972 — |
Federal Funds Sold, Securitie31
Federal Funds Sold, Securities Purchased under Resale Agreements and Other Short-Term Investments (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Federal Funds Sold, Securities Purchased under Resale Agreements and Other Short-Term Investments [Abstract] | |
Federal Funds Sold, Securities Purchased under Resale Agreements and Other Short-Term Investments | The following table provides the detail of federal funds sold, securities purchased under short-term resale agreements (generally less than one year) and other short-term investments. The majority of interest-earning deposits at September 30, 2015 and December 31, 2014 , were held at the Federal Reserve. (in millions) Sep 30, Dec 31, Federal funds sold and securities purchased under resale agreements $ 44,894 36,856 Interest-earning deposits 207,496 219,220 Other short-term investments 2,421 2,353 Total $ 254,811 258,429 |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities Major Categories | The following table provides the amortized cost and fair value by major categories of available-for-sale securities, which are carried at fair value, and held-to-maturity debt securities, which are carried at amortized cost. The net unrealized gains (losses) for available-for-sale securities are reported on an after-tax basis as a component of cumulative OCI. (in millions) Amortized Cost Gross unrealized gains Gross unrealized losses Fair value September 30, 2015 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ 35,049 384 (10 ) 35,423 Securities of U.S. states and political subdivisions 49,497 1,013 (1,087 ) 49,423 Mortgage-backed securities: Federal agencies 102,660 2,730 (367 ) 105,023 Residential 7,335 812 (19 ) 8,128 Commercial 14,424 354 (70 ) 14,708 Total mortgage-backed securities 124,419 3,896 (456 ) 127,859 Corporate debt securities 15,350 451 (311 ) 15,490 Collateralized loan and other debt obligations (1) 29,988 248 (182 ) 30,054 Other (2) 6,126 140 (50 ) 6,216 Total debt securities 260,429 6,132 (2,096 ) 264,465 Marketable equity securities: Perpetual preferred securities 840 115 (15 ) 940 Other marketable equity securities 278 729 (6 ) 1,001 Total marketable equity securities 1,118 844 (21 ) 1,941 Total available-for-sale securities 261,547 6,976 (2,117 ) 266,406 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies 44,653 1,333 (12 ) 45,974 Securities of U.S. states and political subdivisions 2,187 28 (3 ) 2,212 Federal agency mortgage-backed securities 26,828 194 (92 ) 26,930 Collateralized loans and other debt obligations (1) 1,405 — (14 ) 1,391 Other (2) 3,595 17 — 3,612 Total held-to-maturity securities 78,668 1,572 (121 ) 80,119 Total $ 340,215 8,548 (2,238 ) 346,525 December 31, 2014 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ 25,898 44 (138 ) 25,804 Securities of U.S. states and political subdivisions 43,939 1,504 (499 ) 44,944 Mortgage-backed securities: Federal agencies 107,850 2,990 (751 ) 110,089 Residential 8,213 1,080 (24 ) 9,269 Commercial 16,248 803 (57 ) 16,994 Total mortgage-backed securities 132,311 4,873 (832 ) 136,352 Corporate debt securities 14,211 745 (170 ) 14,786 Collateralized loan and other debt obligations (1) 25,137 408 (184 ) 25,361 Other (2) 6,251 295 (27 ) 6,519 Total debt securities 247,747 7,869 (1,850 ) 253,766 Marketable equity securities: Perpetual preferred securities 1,622 148 (70 ) 1,700 Other marketable equity securities 284 1,694 (2 ) 1,976 Total marketable equity securities 1,906 1,842 (72 ) 3,676 Total available-for-sale securities 249,653 9,711 (1,922 ) 257,442 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies 40,886 670 (8 ) 41,548 Securities of U.S. states and political subdivisions 1,962 27 — 1,989 Federal agency mortgage-backed securities 5,476 165 — 5,641 Collateralized loans and other debt obligations (1) 1,404 — (13 ) 1,391 Other (2) 5,755 35 — 5,790 Total held-to-maturity securities 55,483 897 (21 ) 56,359 Total $ 305,136 10,608 (1,943 ) 313,801 (1) The available-for-sale portfolio includes collateralized debt obligations (CDOs) with a cost basis and fair value of $250 million and $316 million , respectively, at September 30, 2015 , and $364 million and $500 million , respectively, at December 31, 2014 . The held-to-maturity portfolio only includes collateralized loan obligations. (2) The “Other” category of available-for-sale securities mostly includes asset-backed securities collateralized by credit cards, student loans, home equity loans and auto leases or loans and cash. Included in the “Other” category of held-to-maturity securities are asset-backed securities collateralized by auto leases or loans and cash with both a cost basis and fair value of $2.2 billion at September 30, 2015 , and $3.8 billion at December 31, 2014 . Also included in the “Other” category of held-to-maturity securities are asset-backed securities collateralized by dealer floorplan loans with a cost basis and fair value of $1.4 billion at September 30, 2015 , and cost basis of $1.9 billion and fair value of $2.0 billion at December 31, 2014 . |
Investment Securities Gross Unrealized Losses Over And Under 12 Months | The following table shows the gross unrealized losses and fair value of securities in the investment securities portfolio by length of time that individual securities in each category have been in a continuous loss position. Debt securities on which we have taken credit-related OTTI write-downs are categorized as being “less than 12 months” or “12 months or more” in a continuous loss position based on the point in time that the fair value declined to below the cost basis and not the period of time since the credit-related OTTI write-down. Less than 12 months 12 months or more Total (in millions) Gross unrealized losses Fair value Gross unrealized losses Fair value Gross unrealized losses Fair value September 30, 2015 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ (4 ) 1,332 (6 ) 2,020 (10 ) 3,352 Securities of U.S. states and political subdivisions (559 ) 19,812 (528 ) 6,242 (1,087 ) 26,054 Mortgage-backed securities: Federal agencies (173 ) 21,559 (194 ) 10,421 (367 ) 31,980 Residential (13 ) 980 (6 ) 272 (19 ) 1,252 Commercial (23 ) 4,034 (47 ) 2,030 (70 ) 6,064 Total mortgage-backed securities (209 ) 26,573 (247 ) 12,723 (456 ) 39,296 Corporate debt securities (179 ) 3,963 (132 ) 967 (311 ) 4,930 Collateralized loan and other debt obligations (116 ) 18,075 (66 ) 4,375 (182 ) 22,450 Other (27 ) 2,532 (23 ) 521 (50 ) 3,053 Total debt securities (1,094 ) 72,287 (1,002 ) 26,848 (2,096 ) 99,135 Marketable equity securities: Perpetual preferred securities (1 ) 45 (14 ) 121 (15 ) 166 Other marketable equity securities (6 ) 53 — — (6 ) 53 Total marketable equity securities (7 ) 98 (14 ) 121 (21 ) 219 Total available-for-sale securities (1,101 ) 72,385 (1,016 ) 26,969 (2,117 ) 99,354 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies (12 ) 2,434 — — (12 ) 2,434 Securities of U.S. states and political subdivisions (3 ) 454 — — (3 ) 454 Federal agency mortgage-backed securities (92 ) 16,498 — — (92 ) 16,498 Collateralized loan and other debt obligations (11 ) 1,158 (3 ) 233 (14 ) 1,391 Total held-to-maturity securities (118 ) 20,544 (3 ) 233 (121 ) 20,777 Total $ (1,219 ) 92,929 (1,019 ) 27,202 (2,238 ) 120,131 December 31, 2014 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ (16 ) 7,138 (122 ) 5,719 (138 ) 12,857 Securities of U.S. states and political subdivisions (198 ) 10,228 (301 ) 3,725 (499 ) 13,953 Mortgage-backed securities: Federal agencies (16 ) 1,706 (735 ) 37,854 (751 ) 39,560 Residential (18 ) 946 (6 ) 144 (24 ) 1,090 Commercial (9 ) 2,202 (48 ) 1,532 (57 ) 3,734 Total mortgage-backed securities (43 ) 4,854 (789 ) 39,530 (832 ) 44,384 Corporate debt securities (102 ) 1,674 (68 ) 1,265 (170 ) 2,939 Collateralized loan and other debt obligations (99 ) 12,755 (85 ) 3,958 (184 ) 16,713 Other (23 ) 708 (4 ) 277 (27 ) 985 Total debt securities (481 ) 37,357 (1,369 ) 54,474 (1,850 ) 91,831 Marketable equity securities: Perpetual preferred securities (2 ) 92 (68 ) 633 (70 ) 725 Other marketable equity securities (2 ) 41 — — (2 ) 41 Total marketable equity securities (4 ) 133 (68 ) 633 (72 ) 766 Total available-for-sale securities (485 ) 37,490 (1,437 ) 55,107 (1,922 ) 92,597 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies (8 ) 1,889 — — (8 ) 1,889 Collateralized loan and other debt obligations (13 ) 1,391 — — (13 ) 1,391 Total held-to-maturity securities (21 ) 3,280 — — (21 ) 3,280 Total $ (506 ) 40,770 (1,437 ) 55,107 (1,943 ) 95,877 |
Investment Securities Gross Unrealized Losses By Investment Grade | The following table shows the gross unrealized losses and fair value of debt and perpetual preferred investment securities by those rated investment grade and those rated less than investment grade, according to their lowest credit rating by Standard & Poor’s Rating Services (S&P) or Moody’s Investors Service (Moody’s). Credit ratings express opinions about the credit quality of a security. Securities rated investment grade, that is those rated BBB- or higher by S&P or Baa3 or higher by Moody’s, are generally considered by the rating agencies and market participants to be low credit risk. Conversely, securities rated below investment grade, labeled as “speculative grade” by the rating agencies, are considered to be distinctively higher credit risk than investment grade securities. We have also included securities not rated by S&P or Moody’s in the table below based on our internal credit grade of the securities (used for credit risk management purposes) equivalent to the credit rating assigned by major credit agencies. The unrealized losses and fair value of unrated securities categorized as investment grade based on internal credit grades were $40 million and $2.6 billion , respectively, at September 30, 2015 , and $25 million and $1.6 billion , respectively, at December 31, 2014 . If an internal credit grade was not assigned, we categorized the security as non-investment grade. Investment grade Non-investment grade (in millions) Gross unrealized losses Fair value Gross unrealized losses Fair value September 30, 2015 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ (10 ) 3,352 — — Securities of U.S. states and political subdivisions (1,042 ) 25,619 (45 ) 435 Mortgage-backed securities: Federal agencies (367 ) 31,980 — — Residential (9 ) 722 (10 ) 530 Commercial (45 ) 5,618 (25 ) 446 Total mortgage-backed securities (421 ) 38,320 (35 ) 976 Corporate debt securities (83 ) 2,952 (228 ) 1,978 Collateralized loan and other debt obligations (181 ) 22,393 (1 ) 57 Other (46 ) 2,761 (4 ) 292 Total debt securities (1,783 ) 95,397 (313 ) 3,738 Perpetual preferred securities (15 ) 166 — — Total available-for-sale securities (1,798 ) 95,563 (313 ) 3,738 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies (12 ) 2,434 — — Securities of U.S. states and political subdivisions (3 ) 454 — — Federal agency mortgage-backed securities (92 ) 16,498 — — Collateralized loan and other debt obligations (14 ) 1,391 — — Total held-to-maturity securities (121 ) 20,777 — — Total $ (1,919 ) 116,340 (313 ) 3,738 December 31, 2014 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ (138 ) 12,857 — — Securities of U.S. states and political subdivisions (459 ) 13,600 (40 ) 353 Mortgage-backed securities: Federal agencies (751 ) 39,560 — — Residential — 139 (24 ) 951 Commercial (24 ) 3,366 (33 ) 368 Total mortgage-backed securities (775 ) 43,065 (57 ) 1,319 Corporate debt securities (39 ) 1,807 (131 ) 1,132 Collateralized loan and other debt obligations (172 ) 16,609 (12 ) 104 Other (23 ) 782 (4 ) 203 Total debt securities (1,606 ) 88,720 (244 ) 3,111 Perpetual preferred securities (70 ) 725 — — Total available-for-sale securities (1,676 ) 89,445 (244 ) 3,111 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies (8 ) 1,889 — — Collateralized loan and other debt obligations (13 ) 1,391 — — Total held-to-maturity securities (21 ) 3,280 — — Total $ (1,697 ) 92,725 (244 ) 3,111 |
Debt Securities Contractual Maturities | The following table shows the remaining contractual maturities and contractual weighted-average yields (taxable-equivalent basis) of available-for-sale debt securities. The remaining contractual principal maturities for MBS do not consider prepayments. Remaining expected maturities will differ from contractual maturities because borrowers may have the right to prepay obligations before the underlying mortgages mature. Remaining contractual maturity Total Within one year After one year through five years After five years through ten years After ten years (in millions) amount Yield Amount Yield Amount Yield Amount Yield Amount Yield September 30, 2015 Available-for-sale securities (1) : Securities of U.S. Treasury and federal agencies $ 35,423 1.50 % $ 128 0.72 % $ 30,972 1.46 % $ 4,323 1.82 % $ — — % Securities of U.S. states and political subdivisions 49,423 5.71 2,386 1.72 7,767 2.05 3,165 5.21 36,105 6.80 Mortgage-backed securities: Federal agencies 105,023 3.29 5 6.53 335 1.80 1,223 3.94 103,460 3.29 Residential 8,128 4.44 — — 37 5.11 37 6.03 8,054 4.43 Commercial 14,708 5.18 — — 61 2.66 — — 14,647 5.19 Total mortgage-backed securities 127,859 3.58 5 6.53 433 2.21 1,260 4.01 126,161 3.58 Corporate debt securities 15,490 4.74 1,431 4.21 7,459 4.58 5,263 4.91 1,337 5.54 Collateralized loan and other debt obligations 30,054 2.02 — — 786 0.79 12,365 1.91 16,903 2.15 Other 6,216 1.85 309 1.69 1,191 2.49 999 1.74 3,717 1.68 Total available-for-sale debt securities at fair value $ 264,465 3.55 % $ 4,259 2.53 % $ 48,608 2.05 % $ 27,375 2.95 % $ 184,223 4.06 % December 31, 2014 Available-for-sale securities (1): ` Securities of U.S. Treasury and federal agencies $ 25,804 1.49 % $ 181 1.47 % $ 22,348 1.44 % $ 3,275 1.83 % $ — — % Securities of U.S. states and political subdivisions 44,944 5.66 3,568 1.71 7,050 2.19 3,235 5.13 31,091 6.96 Mortgage-backed securities: Federal agencies 110,089 3.27 — — 276 2.86 1,011 3.38 108,802 3.27 Residential 9,269 4.50 — — 9 4.81 83 5.63 9,177 4.49 Commercial 16,994 5.16 1 0.28 62 2.71 5 1.30 16,926 5.17 Total mortgage-backed securities 136,352 3.59 1 0.28 347 2.88 1,099 3.54 134,905 3.59 Corporate debt securities 14,786 4.90 600 4.32 7,634 4.54 5,209 5.30 1,343 5.70 Collateralized loan and other debt obligations 25,361 1.83 23 1.95 944 0.71 8,472 1.67 15,922 1.99 Other 6,519 1.79 274 1.55 1,452 2.56 1,020 1.32 3,773 1.64 Total available-for-sale debt securities at fair value $ 253,766 3.60 % $ 4,647 2.03 % $ 39,775 2.20 % $ 22,310 3.12 % $ 187,034 3.99 % (1) Weighted-average yields displayed by maturity bucket are weighted based on fair value and predominantly represent contractual coupon rates without effect for any related hedging derivatives. The following table shows the amortized cost and weighted-average yields of held-to-maturity debt securities by contractual maturity. Remaining contractual maturity Total Within one year After one year through five years After five years through ten years After ten years (in millions) amount Yield Amount Yield Amount Yield Amount Yield Amount Yield September 30, 2015 Held-to-maturity securities (1) : Amortized cost: Securities of U.S. Treasury and federal agencies $ 44,653 2.12 % $ — — % $ — — % $ 44,653 2.12 % $ — — % Securities of U.S. states and political subdivisions 2,187 5.73 — — — — 99 7.32 2,088 5.65 Federal agency mortgage-backed securities 26,828 3.47 — — — — — — 26,828 3.47 Collateralized loan and other debt obligations 1,405 2.01 — — — — — — 1,405 2.01 Other 3,595 1.61 — — 2,560 1.68 1,035 1.43 — — Total held-to-maturity debt securities at amortized cost $ 78,668 2.66 % $ — — % $ 2,560 1.68 % $ 45,787 2.11 % $ 30,321 3.56 % December 31, 2014 Held-to-maturity securities (1): Amortized cost: Securities of U.S. Treasury and federal agencies $ 40,886 2.12 % $ — — % $ — — % $ 40,886 2.12 % $ — — % Securities of U.S. states and political subdivisions 1,962 5.60 — — % — — 9 6.60 1,953 5.59 Federal agency mortgage-backed securities 5,476 3.89 — — % — — — — 5,476 3.89 Collateralized loan and other debt obligations 1,404 1.96 — — — — — — 1,404 1.96 Other 5,755 1.64 192 1.61 4,214 1.72 1,349 1.41 — — Total held-to-maturity debt securities at amortized cost $ 55,483 2.37 % $ 192 1.61 % $ 4,214 1.72 % $ 42,244 2.10 % $ 8,833 3.96 % (1) Weighted-average yields displayed by maturity bucket are weighted based on amortized cost and predominantly represent contractual coupon rates. The following table shows the fair value of held-to-maturity debt securities by contractual maturity. Remaining contractual maturity Total Within one year After one year through five years After five years through ten years After ten years (in millions) amount Amount Amount Amount Amount September 30, 2015 Held-to-maturity securities: Fair value: Securities of U.S. Treasury and federal agencies $ 45,974 — — 45,974 — Securities of U.S. states and political subdivisions 2,212 — — 100 2,112 Federal agency mortgage-backed securities 26,930 — — — 26,930 Collateralized loan and other debt obligations 1,391 — — — 1,391 Other 3,612 — 2,572 1,040 — Total held-to-maturity debt securities at fair value $ 80,119 — 2,572 47,114 30,433 December 31, 2014 Held-to-maturity securities: Fair value: Securities of U.S. Treasury and federal agencies $ 41,548 — — 41,548 — Securities of U.S. states and political subdivisions 1,989 — — 9 1,980 Federal agency mortgage-backed securities 5,641 — — — 5,641 Collateralized loan and other debt obligations 1,391 — — — 1,391 Other 5,790 193 4,239 1,358 — Total held-to-maturity debt securities at fair value $ 56,359 193 4,239 42,915 9,012 |
Investment Securities Realized Gains And Losses | The following table shows the gross realized gains and losses on sales and OTTI write-downs related to the available-for-sale securities portfolio, which includes marketable equity securities, as well as net realized gains and losses on nonmarketable equity investments (see Note 6 (Other Assets)). Quarter ended Sep 30, Nine months ended Sep 30, (in millions) 2015 2014 2015 2014 Gross realized gains $ 530 675 1,133 1,220 Gross realized losses (21 ) (4 ) (57 ) (9 ) OTTI write-downs (74 ) (15 ) (125 ) (37 ) Net realized gains from available-for-sale securities 435 656 951 1,174 Net realized gains from nonmarketable equity investments 632 309 1,462 1,241 Net realized gains from debt securities and equity investments $ 1,067 965 2,413 2,415 |
Investment Securities And Nonmarketable Equity Securities Other Than Temporary Impairment | The following table shows the detail of total OTTI write-downs included in earnings for available-for-sale debt securities, marketable equity securities and nonmarketable equity investments. There were no OTTI write-downs on held-to-maturity securities during the first nine months of 2015 and 2014 . Quarter ended Sep 30, Nine months ended Sep 30, (in millions) 2015 2014 2015 2014 OTTI write-downs included in earnings Debt securities: Securities of U.S. states and political subdivisions $ 2 3 18 5 Mortgage-backed securities: Residential 9 11 43 21 Commercial 3 1 3 7 Corporate debt securities 59 — 59 — Collateralized loan and other debt obligations — — — 2 Total debt securities 73 15 123 35 Equity securities: Marketable equity securities: Other marketable equity securities 1 — 2 2 Total marketable equity securities 1 — 2 2 Total investment securities 74 15 125 37 Nonmarketable equity investments 66 40 183 235 Total OTTI write-downs included in earnings $ 140 55 308 272 |
Debt Securities Other Than Temporary Impairment | The following table shows the detail of OTTI write-downs on available-for-sale debt securities included in earnings and the related changes in OCI for the same securities. Quarter ended Sep 30, Nine months ended Sep 30, (in millions) 2015 2014 2015 2014 OTTI on debt securities Recorded as part of gross realized losses: Credit-related OTTI $ 70 14 109 30 Intent-to-sell OTTI 3 1 14 5 Total recorded as part of gross realized losses 73 15 123 35 Changes to OCI for losses (reversal of losses) in non-credit-related OTTI (1): Securities of U.S. states and political subdivisions — 1 (1 ) 2 Residential mortgage-backed securities (6 ) (6 ) (37 ) (19 ) Commercial mortgage-backed securities 2 — (13 ) (19 ) Corporate debt securities 1 — 1 — Total changes to OCI for non-credit-related OTTI (3 ) (5 ) (50 ) (36 ) Total OTTI losses (reversal of losses) recorded on debt securities $ 70 10 73 (1 ) (1) Represents amounts recorded to OCI for impairment, due to factors other than credit, on debt securities that have also had credit-related OTTI write-downs during the period. Increases represent initial or subsequent non-credit-related OTTI on debt securities. Decreases represent partial to full reversal of impairment due to recoveries in the fair value of securities due to non-credit factors. |
Credit Loss Component Of Credit-Impaired Debt Securities | The following table presents a rollforward of the OTTI credit loss that has been recognized in earnings as a write-down of available-for-sale debt securities we still own (referred to as "credit-impaired" debt securities) and do not intend to sell. Recognized credit loss represents the difference between the present value of expected future cash flows discounted using the security’s current effective interest rate and the amortized cost basis of the security prior to considering credit loss. Quarter ended Sep 30, Nine months ended Sep 30, (in millions) 2015 2014 2015 2014 Credit loss recognized, beginning of period $ 993 1,107 1,025 1,171 Additions: For securities with initial credit impairments 64 2 64 5 For securities with previous credit impairments 6 12 45 25 Total additions 70 14 109 30 Reductions: For securities sold, matured, or intended/required to be sold (23 ) (87 ) (89 ) (156 ) For recoveries of previous credit impairments (1) (1 ) (4 ) (6 ) (15 ) Total reductions (24 ) (91 ) (95 ) (171 ) Credit loss recognized, end of period $ 1,039 1,030 1,039 1,030 (1) Recoveries of previous credit impairments result from increases in expected cash flows subsequent to credit loss recognition. Such recoveries are reflected prospectively as interest yield adjustments using the effective interest method. |
Loans and Allowance for Credi33
Loans and Allowance for Credit Losses (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |
Loans and Allowance for Credit Losses, Loans Outstanding | The following table presents total loans outstanding by portfolio segment and class of financing receivable. Outstanding balances include a total net reduction of $3.8 billion and $4.5 billion at September 30, 2015 , and December 31, 2014 , respectively, for unearned income, net deferred loan fees, and unamortized discounts and premiums. (in millions) Sep 30, Dec 31, Commercial: Commercial and industrial $ 292,234 271,795 Real estate mortgage 121,252 111,996 Real estate construction 21,710 18,728 Lease financing 12,142 12,307 Total commercial 447,338 414,826 Consumer: Real estate 1-4 family first mortgage 271,311 265,386 Real estate 1-4 family junior lien mortgage 54,592 59,717 Credit card 32,286 31,119 Automobile 59,164 55,740 Other revolving credit and installment 38,542 35,763 Total consumer 455,895 447,725 Total loans $ 903,233 862,551 Our foreign loans are reported by respective class of financing receivable in the table above. Substantially all of our foreign loan portfolio is commercial loans. Loans are classified as foreign primarily based on whether the borrower’s primary address is outside of the United States. The following table presents total commercial foreign loans outstanding by class of financing receivable. (in millions) Sep 30, Dec 31, Commercial foreign loans: Commercial and industrial $ 46,380 44,707 Real estate mortgage 8,662 4,776 Real estate construction 396 218 Lease financing 279 336 Total commercial foreign loans $ 55,717 50,037 |
Loans and Allowance for Credit Losses, Significant Activity | The following table summarizes the proceeds paid or received for purchases and sales of loans and transfers from loans held for investment to mortgages/loans held for sale at lower of cost or fair value. This loan activity primarily includes loans purchased and sales of whole loan or participating interests, whereby we receive or transfer a portion of a loan after origination. The table excludes PCI loans and loans recorded at fair value, including loans originated for sale because their loan activity normally does not impact the allowance for credit losses. 2015 2014 (in millions) Commercial Consumer Total Commercial Consumer Total Quarter ended September 30, Purchases (1) $ 1,818 29 1,847 1,214 — 1,214 Sales (286 ) (130 ) (416 ) (1,270 ) (40 ) (1,310 ) Transfers to MHFS/LHFS (1) (39 ) (7 ) (46 ) (14 ) 2 (12 ) Nine months ended September 30, Purchases (1) $ 12,648 340 12,988 3,751 168 3,919 Sales (649 ) (160 ) (809 ) (4,869 ) (115 ) (4,984 ) Transfers to MHFS/LHFS (1) (91 ) (14 ) (105 ) (73 ) (9,776 ) (9,849 ) (1) The “Purchases” and “Transfers to MHFS/LHFS" categories exclude activity in government insured/guaranteed real estate 1-4 family first mortgage loans. As servicer, we are able to buy delinquent insured/guaranteed loans out of the Government National Mortgage Association (GNMA) pools. These loans are predominantly insured by the Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA). Accordingly, these loans have limited impact on the allowance for loan losses. On a net basis, such purchases net of transfers to MHFS were $145 million and $807 million for third quarter 2015 and 2014 , respectively and $1.0 billion each for the first nine months of 2015 and 2014 , respectively. |
Loans and Allowance for Credit Losses, Commitments to Lend | The contractual amount of our unfunded credit commitments, including unissued standby and commercial letters of credit, is summarized by portfolio segment and class of financing receivable in the following table. The table excludes the standby and commercial letters of credit and temporary advance arrangements described above. (in millions) Sep 30, Dec 31, Commercial: Commercial and industrial $ 292,137 278,093 Real estate mortgage 7,387 6,134 Real estate construction 16,817 15,587 Lease financing — 3 Total commercial 316,341 299,817 Consumer: Real estate 1-4 family first mortgage 36,411 32,055 Real estate 1-4 family junior lien mortgage 43,736 45,492 Credit card 99,442 95,062 Other revolving credit and installment 27,260 24,816 Total consumer 206,849 197,425 Total unfunded credit commitments $ 523,190 497,242 |
Loans and Allowance for Credit Losses, Allowance for Credit Losses | Changes in the allowance for credit losses were: Quarter ended September 30, Nine months ended September 30, (in millions) 2015 2014 2015 2014 Balance, beginning of period $ 12,614 13,834 13,169 14,971 Provision for credit losses 703 368 1,611 910 Interest income on certain impaired loans (1) (48 ) (52 ) (150 ) (163 ) Loan charge-offs: Commercial: Commercial and industrial (172 ) (157 ) (459 ) (466 ) Real estate mortgage (9 ) (11 ) (48 ) (47 ) Real estate construction — (3 ) (2 ) (7 ) Lease financing (5 ) (5 ) (11 ) (12 ) Total commercial (186 ) (176 ) (520 ) (532 ) Consumer: Real estate 1-4 family first mortgage (145 ) (167 ) (394 ) (583 ) Real estate 1-4 family junior lien mortgage (159 ) (202 ) (501 ) (671 ) Credit card (259 ) (236 ) (821 ) (769 ) Automobile (186 ) (192 ) (531 ) (515 ) Other revolving credit and installment (160 ) (160 ) (465 ) (508 ) Total consumer (909 ) (957 ) (2,712 ) (3,046 ) Total loan charge-offs (1,095 ) (1,133 ) (3,232 ) (3,578 ) Loan recoveries: Commercial: Commercial and industrial 50 90 192 290 Real estate mortgage 32 48 97 116 Real estate construction 8 61 25 108 Lease financing 2 1 6 6 Total commercial 92 200 320 520 Consumer: Real estate 1-4 family first mortgage 83 53 182 162 Real estate 1-4 family junior lien mortgage 70 62 195 179 Credit card 43 35 123 126 Automobile 73 80 249 267 Other revolving credit and installment 31 35 102 114 Total consumer 300 265 851 848 Total loan recoveries 392 465 1,171 1,368 Net loan charge-offs (2) (703 ) (668 ) (2,061 ) (2,210 ) Allowances related to business combinations/other (4 ) (1 ) (7 ) (27 ) Balance, end of period $ 12,562 13,481 12,562 13,481 Components: Allowance for loan losses $ 11,659 12,681 11,659 12,681 Allowance for unfunded credit commitments 903 800 903 800 Allowance for credit losses (3) $ 12,562 13,481 12,562 13,481 Net loan charge-offs (annualized) as a percentage of average total loans (2) 0.31 % 0.32 0.31 0.36 Allowance for loan losses as a percentage of total loans (3) 1.29 1.51 1.29 1.51 Allowance for credit losses as a percentage of total loans (3) 1.39 1.61 1.39 1.61 (1) Certain impaired loans with an allowance calculated by discounting expected cash flows using the loan’s effective interest rate over the remaining life of the loan recognize reductions in the allowance as interest income. (2) For PCI loans, charge-offs are only recorded to the extent that losses exceed the purchase accounting estimates. (3) The allowance for credit losses includes $5 million and $11 million at September 30, 2015 and 2014 , respectively, related to PCI loans acquired from Wachovia. Loans acquired from Wachovia are included in total loans net of related purchase accounting net write-downs. |
Loans and Allowance for Credit Losses, Allowance for Credit Losses by Category | The following table summarizes the activity in the allowance for credit losses by our commercial and consumer portfolio segments. 2015 2014 (in millions) Commercial Consumer Total Commercial Consumer Total Quarter ended September 30, Balance, beginning of period $ 6,279 6,335 12,614 6,400 7,434 13,834 Provision for credit losses 348 355 703 (9 ) 377 368 Interest income on certain impaired loans (3 ) (45 ) (48 ) (5 ) (47 ) (52 ) Loan charge-offs (186 ) (909 ) (1,095 ) (176 ) (957 ) (1,133 ) Loan recoveries 92 300 392 200 265 465 Net loan charge-offs (94 ) (609 ) (703 ) 24 (692 ) (668 ) Allowance related to business combinations/other (4 ) — (4 ) (1 ) — (1 ) Balance, end of period $ 6,526 6,036 12,562 6,409 7,072 13,481 Nine months ended September 30, Balance, beginning of period $ 6,377 6,792 13,169 6,103 8,868 14,971 Provision for credit losses 368 1,243 1,611 337 573 910 Interest income on certain impaired loans (12 ) (138 ) (150 ) (17 ) (146 ) (163 ) Loan charge-offs (520 ) (2,712 ) (3,232 ) (532 ) (3,046 ) (3,578 ) Loan recoveries 320 851 1,171 520 848 1,368 Net loan charge-offs (200 ) (1,861 ) (2,061 ) (12 ) (2,198 ) (2,210 ) Allowance related to business combinations/other (7 ) — (7 ) (2 ) (25 ) (27 ) Balance, end of period $ 6,526 6,036 12,562 6,409 7,072 13,481 |
Loans and Allowance for Credit Losses, by Impairment Methodology | The following table disaggregates our allowance for credit losses and recorded investment in loans by impairment methodology. Allowance for credit losses Recorded investment in loans (in millions) Commercial Consumer Total Commercial Consumer Total September 30, 2015 Collectively evaluated (1) $ 5,802 3,646 9,448 442,865 415,492 858,357 Individually evaluated (2) 719 2,390 3,109 3,696 20,443 24,139 PCI (3) 5 — 5 777 19,960 20,737 Total $ 6,526 6,036 12,562 447,338 455,895 903,233 December 31, 2014 Collectively evaluated (1) $ 5,482 3,706 9,188 409,560 404,263 813,823 Individually evaluated (2) 884 3,086 3,970 3,759 21,649 25,408 PCI (3) 11 — 11 1,507 21,813 23,320 Total $ 6,377 6,792 13,169 414,826 447,725 862,551 (1) Represents loans collectively evaluated for impairment in accordance with Accounting Standards Codification (ASC) 450-20, Loss Contingencies (formerly FAS 5), and pursuant to amendments by ASU 2010-20 regarding allowance for non-impaired loans. (2) Represents loans individually evaluated for impairment in accordance with ASC 310-10, Receivables (formerly FAS 114), and pursuant to amendments by ASU 2010-20 regarding allowance for impaired loans. (3) Represents the allowance and related loan carrying value determined in accordance with ASC 310-30 , Receivables – Loans and Debt Securities Acquired with Deteriorated Credit Quality (formerly SOP 03-3) and pursuant to amendments by ASU 2010-20 regarding allowance for PCI loans. |
Loans by Credit Quality Indicator | The following table provides a breakdown of outstanding commercial loans by risk category. Of the $7.9 billion in criticized commercial real estate (CRE) loans at September 30, 2015 , $1.3 billion has been placed on nonaccrual status and written down to net realizable collateral value. CRE loans have a high level of monitoring in place to manage these assets and mitigate loss exposure. (in millions) Commercial and industrial Real estate mortgage Real estate construction Lease financing Total September 30, 2015 By risk category: Pass $ 274,581 113,436 20,956 11,645 420,618 Criticized 17,582 7,210 654 497 25,943 Total commercial loans (excluding PCI) 292,163 120,646 21,610 12,142 446,561 Total commercial PCI loans (carrying value) 71 606 100 — 777 Total commercial loans $ 292,234 121,252 21,710 12,142 447,338 December 31, 2014 By risk category: Pass $ 255,611 103,319 17,661 11,723 388,314 Criticized 16,109 7,416 896 584 25,005 Total commercial loans (excluding PCI) 271,720 110,735 18,557 12,307 413,319 Total commercial PCI loans (carrying value) 75 1,261 171 — 1,507 Total commercial loans $ 271,795 111,996 18,728 12,307 414,826 |
Loans by Delinquency Status, Commercial | The following table provides past due information for commercial loans, which we monitor as part of our credit risk management practices. (in millions) Commercial and industrial Real estate mortgage Real estate construction Lease financing Total September 30, 2015 By delinquency status: Current-29 DPD and still accruing $ 290,597 119,250 21,419 12,084 443,350 30-89 DPD and still accruing 482 247 40 29 798 90+ DPD and still accruing 53 24 — — 77 Nonaccrual loans 1,031 1,125 151 29 2,336 Total commercial loans (excluding PCI) 292,163 120,646 21,610 12,142 446,561 Total commercial PCI loans (carrying value) 71 606 100 — 777 Total commercial loans $ 292,234 121,252 21,710 12,142 447,338 December 31, 2014 By delinquency status: Current-29 DPD and still accruing $ 270,624 109,032 18,345 12,251 410,252 30-89 DPD and still accruing 527 197 25 32 781 90+ DPD and still accruing 31 16 — — 47 Nonaccrual loans 538 1,490 187 24 2,239 Total commercial loans (excluding PCI) 271,720 110,735 18,557 12,307 413,319 Total commercial PCI loans (carrying value) 75 1,261 171 — 1,507 Total commercial loans $ 271,795 111,996 18,728 12,307 414,826 |
Loans by Delinquency Status, Consumer | The following table provides the outstanding balances of our consumer portfolio by delinquency status. (in millions) Real estate 1-4 family first mortgage Real estate 1-4 family junior lien mortgage Credit card Automobile Other revolving credit and installment Total September 30, 2015 By delinquency status: Current-29 DPD $ 221,267 53,329 31,519 57,880 38,156 402,151 30-59 DPD 2,209 344 249 989 162 3,953 60-89 DPD 811 181 165 220 109 1,486 90-119 DPD 392 115 136 71 84 798 120-179 DPD 448 145 216 4 18 831 180+ DPD 3,536 403 1 — 13 3,953 Government insured/guaranteed loans (1) 22,763 — — — — 22,763 Total consumer loans (excluding PCI) 251,426 54,517 32,286 59,164 38,542 435,935 Total consumer PCI loans (carrying value) 19,885 75 — — — 19,960 Total consumer loans $ 271,311 54,592 32,286 59,164 38,542 455,895 December 31, 2014 By delinquency status: Current-29 DPD $ 208,642 58,182 30,356 54,365 35,356 386,901 30-59 DPD 2,415 398 239 1,056 180 4,288 60-89 DPD 993 220 160 235 111 1,719 90-119 DPD 488 158 136 78 82 942 120-179 DPD 610 194 227 5 21 1,057 180+ DPD 4,258 464 1 1 13 4,737 Government insured/guaranteed loans (1) 26,268 — — — — 26,268 Total consumer loans (excluding PCI) 243,674 59,616 31,119 55,740 35,763 425,912 Total consumer PCI loans (carrying value) 21,712 101 — — — 21,813 Total consumer loans $ 265,386 59,717 31,119 55,740 35,763 447,725 (1) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. Loans insured/guaranteed by the FHA/VA and 90+ DPD totaled $12.6 billion at September 30, 2015 , compared with $16.2 billion at December 31, 2014 . |
Loans by FICO Score, Consumer | The following table provides a breakdown of our consumer portfolio by updated FICO. We obtain FICO scores at loan origination and the scores are updated at least quarterly. The majority of our portfolio is underwritten with a FICO score of 680 and above. FICO is not available for certain loan types and may not be obtained if we deem it unnecessary due to strong collateral and other borrower attributes, primarily security-based loans of $6.7 billion at September 30, 2015 , and $5.9 billion at December 31, 2014 . (in millions) Real estate 1-4 family first mortgage Real estate 1-4 family junior lien mortgage Credit card Automobile Other revolving credit and installment Total September 30, 2015 By updated FICO: < 600 $ 9,459 3,163 2,799 8,945 918 25,284 600-639 7,210 2,484 2,760 6,633 1,069 20,156 640-679 13,416 4,806 5,128 10,003 2,337 35,690 680-719 24,678 8,176 6,540 10,871 4,396 54,661 720-759 37,147 11,327 6,673 8,149 5,943 69,239 760-799 91,670 16,802 5,386 7,687 8,296 129,841 800+ 41,613 6,892 2,767 6,461 6,406 64,139 No FICO available 3,470 867 233 415 2,450 7,435 FICO not required — — — — 6,727 6,727 Government insured/guaranteed loans (1) 22,763 — — — — 22,763 Total consumer loans (excluding PCI) 251,426 54,517 32,286 59,164 38,542 435,935 Total consumer PCI loans (carrying value) 19,885 75 — — — 19,960 Total consumer loans $ 271,311 54,592 32,286 59,164 38,542 455,895 December 31, 2014 By updated FICO: < 600 $ 11,166 4,001 2,639 8,825 894 27,525 600-639 7,866 2,794 2,588 6,236 1,058 20,542 640-679 13,894 5,324 4,931 9,352 2,366 35,867 680-719 24,412 8,970 6,285 9,994 4,389 54,050 720-759 35,490 12,171 6,407 7,475 5,896 67,439 760-799 82,123 17,897 5,234 7,315 7,673 120,242 800+ 39,219 7,581 2,758 6,184 5,819 61,561 No FICO available 3,236 878 277 359 1,814 6,564 FICO not required — — — — 5,854 5,854 Government insured/guaranteed loans (1) 26,268 — — — — 26,268 Total consumer loans (excluding PCI) 243,674 59,616 31,119 55,740 35,763 425,912 Total consumer PCI loans (carrying value) 21,712 101 — — — 21,813 Total consumer loans $ 265,386 59,717 31,119 55,740 35,763 447,725 (1) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. |
Loans by Loan to Value Ratio, Consumer | The following table shows the most updated LTV and CLTV distribution of the real estate 1-4 family first and junior lien mortgage loan portfolios. We consider the trends in residential real estate markets as we monitor credit risk and establish our allowance for credit losses. In the event of a default, any loss should be limited to the portion of the loan amount in excess of the net realizable value of the underlying real estate collateral value. Certain loans do not have an LTV or CLTV primarily due to industry data availability and portfolios acquired from or serviced by other institutions. September 30, 2015 December 31, 2014 (in millions) Real estate 1-4 family first mortgage by LTV Real estate 1-4 family junior lien mortgage by CLTV Total Real estate 1-4 family first mortgage by LTV Real estate 1-4 family junior lien mortgage by CLTV Total By LTV/CLTV: 0-60% $ 108,005 15,861 123,866 95,719 15,603 111,322 60.01-80% 89,604 16,754 106,358 86,112 17,651 103,763 80.01-100% 22,671 11,899 34,570 25,170 14,004 39,174 100.01-120% (1) 4,604 5,817 10,421 6,133 7,254 13,387 > 120% (1) 2,182 3,155 5,337 2,856 4,058 6,914 No LTV/CLTV available 1,597 1,031 2,628 1,416 1,046 2,462 Government insured/guaranteed loans (2) 22,763 — 22,763 26,268 — 26,268 Total consumer loans (excluding PCI) 251,426 54,517 305,943 243,674 59,616 303,290 Total consumer PCI loans (carrying value) 19,885 75 19,960 21,712 101 21,813 Total consumer loans $ 271,311 54,592 325,903 265,386 59,717 325,103 (1) Reflects total loan balances with LTV/CLTV amounts in excess of 100%. In the event of default, the loss content would generally be limited to only the amount in excess of 100% LTV/CLTV. (2) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. |
Nonaccrual Loans | The following table provides loans on nonaccrual status. PCI loans are excluded from this table because they continue to earn interest from accretable yield, independent of performance in accordance with their contractual terms. (in millions) Sep 30, Dec 31, Commercial: Commercial and industrial $ 1,031 538 Real estate mortgage 1,125 1,490 Real estate construction 151 187 Lease financing 29 24 Total commercial (1) 2,336 2,239 Consumer: Real estate 1-4 family first mortgage (2) 7,425 8,583 Real estate 1-4 family junior lien mortgage 1,612 1,848 Automobile 123 137 Other revolving credit and installment 41 41 Total consumer 9,201 10,609 Total nonaccrual loans (excluding PCI) $ 11,537 12,848 (1) Includes LHFS of $0 million at September 30, 2015 and $1 million at December 31, 2014 . (2) Includes MHFS of $96 million and $177 million at September 30, 2015 , and December 31, 2014 , respectively. |
90 days or More Past Due and Still Accruing Loans | The following table shows non-PCI loans 90 days or more past due and still accruing by class for loans not government insured/guaranteed. (in millions) Sep 30, 2015 Dec 31, 2014 Loans 90 days or more past due and still accruing: Total (excluding PCI): $ 14,405 17,810 Less: FHA insured/guaranteed by the VA (1)(2) 13,500 16,827 Less: Student loans guaranteed under the FFELP (3) 33 63 Total, not government insured/guaranteed $ 872 920 By segment and class, not government insured/guaranteed: Commercial: Commercial and industrial $ 53 31 Real estate mortgage 24 16 Real estate construction — — Total commercial 77 47 Consumer: Real estate 1-4 family first mortgage (2) 216 260 Real estate 1-4 family junior lien mortgage (2) 61 83 Credit card 353 364 Automobile 66 73 Other revolving credit and installment 99 93 Total consumer 795 873 Total, not government insured/guaranteed $ 872 920 (1) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. (2) Includes mortgage loans held for sale 90 days or more past due and still accruing. (3) Represents loans whose repayments are predominantly guaranteed by agencies on behalf of the U.S. Department of Education under the FFELP. |
Impaired Loans | The table below summarizes key information for impaired loans. Our impaired loans predominantly include loans on nonaccrual status in the commercial portfolio segment and loans modified in a TDR, whether on accrual or nonaccrual status. These impaired loans generally have estimated losses which are included in the allowance for credit losses. We have impaired loans with no allowance for credit losses when loss content has been previously recognized through charge-offs and we do not anticipate additional charge-offs or losses, or certain loans are currently performing in accordance with their terms and for which no loss has been estimated. Impaired loans exclude PCI loans. The table below includes trial modifications that totaled $421 million at September 30, 2015 , and $452 million at December 31, 2014 . For additional information on our impaired loans and allowance for credit losses, see Note 1 (Summary of Significant Accounting Policies) in our 2014 Form 10-K. Recorded investment (in millions) Unpaid principal balance (1) Impaired loans Impaired loans with related allowance for credit losses Related allowance for credit losses September 30, 2015 Commercial: Commercial and industrial $ 2,090 1,416 1,209 252 Real estate mortgage 2,623 2,036 1,950 415 Real estate construction 343 214 195 44 Lease financing 42 30 30 8 Total commercial 5,098 3,696 3,384 719 Consumer: Real estate 1-4 family first mortgage 20,055 17,508 11,393 1,816 Real estate 1-4 family junior lien mortgage 2,743 2,450 1,894 464 Credit card 307 307 307 95 Automobile 174 109 41 6 Other revolving credit and installment 76 69 62 9 Total consumer (2) 23,355 20,443 13,697 2,390 Total impaired loans (excluding PCI) $ 28,453 24,139 17,081 3,109 December 31, 2014 Commercial: Commercial and industrial $ 1,524 926 757 240 Real estate mortgage 3,190 2,483 2,405 591 Real estate construction 491 331 308 45 Lease financing 33 19 19 8 Total commercial 5,238 3,759 3,489 884 Consumer: Real estate 1-4 family first mortgage 21,324 18,600 12,433 2,322 Real estate 1-4 family junior lien mortgage 3,094 2,534 2,009 653 Credit card 338 338 338 98 Automobile 190 127 55 8 Other revolving credit and installment 60 50 42 5 Total consumer (2) 25,006 21,649 14,877 3,086 Total impaired loans (excluding PCI) $ 30,244 25,408 18,366 3,970 (1) Excludes the unpaid principal balance for loans that have been fully charged off or otherwise have zero recorded investment. (2) Periods ended September 30, 2015 and December 31, 2014 each include the recorded investment of $1.8 billion and $2.1 billion , respectively, of government insured/guaranteed loans that are predominantly insured by the FHA or guaranteed by the VA and generally do not have an allowance. |
Impaired Loans, Average Recorded Investment and Interest Income | The following tables provide the average recorded investment in impaired loans and the amount of interest income recognized on impaired loans by portfolio segment and class. Quarter ended September 30, Nine months ended September 30, 2015 2014 2015 2014 (in millions) Average recorded investment Recognized interest income Average recorded investment Recognized interest income Average recorded investment Recognized interest income Average recorded investment Recognized interest income Commercial: Commercial and industrial $ 1,407 21 1,082 22 1,108 64 1,156 60 Real estate mortgage 2,109 34 2,856 42 2,241 108 3,043 107 Real estate construction 232 7 407 7 260 22 485 22 Lease financing 27 — 26 1 24 — 30 1 Total commercial 3,775 62 4,371 72 3,633 194 4,714 190 Consumer: Real estate 1-4 family first mortgage 17,761 231 19,104 232 18,125 697 18,954 707 Real estate 1-4 family junior lien mortgage 2,467 34 2,555 36 2,499 103 2,552 107 Credit card 310 10 367 11 321 30 392 35 Automobile 111 3 144 4 118 11 161 15 Other revolving credit and installment 61 1 41 1 57 3 38 3 Total consumer 20,710 279 22,211 284 21,120 844 22,097 867 Total impaired loans (excluding PCI) $ 24,485 341 26,582 356 24,753 1,038 26,811 1,057 Interest income: Cash basis of accounting $ 104 115 323 314 Other (1) 237 241 715 743 Total interest income $ 341 356 1,038 1,057 (1) Includes interest recognized on accruing TDRs, interest recognized related to certain impaired loans which have an allowance calculated using discounting, and amortization of purchase accounting adjustments related to certain impaired loans. |
Troubled Debt Restructurings, Modification by Type | The following table summarizes our TDR modifications for the periods presented by primary modification type and includes the financial effects of these modifications. For those loans that modify more than once, the table reflects each modification that occurred during the period. Loans that both modify and resolve within the period, as well as changes in recorded investment during the period for loans modified in prior periods, are not included in the table. Primary modification type (1) Financial effects of modifications (in millions) Principal (2) Interest rate reduction Other concessions (3) Total Charge- offs (4) Weighted average interest rate reduction Recorded investment related to interest rate reduction (5) Quarter ended September 30, 2015 Commercial: Commercial and industrial $ 3 11 487 501 58 1.66 % $ 11 Real estate mortgage — 44 154 198 — 1.46 44 Real estate construction — 1 9 10 — 1.00 1 Total commercial 3 56 650 709 58 1.48 56 Consumer: Real estate 1-4 family first mortgage 114 98 514 726 11 2.51 188 Real estate 1-4 family junior lien mortgage 8 24 39 71 10 3.12 31 Credit card — 41 — 41 — 11.48 41 Automobile — 1 22 23 10 7.84 1 Other revolving credit and installment — 7 1 8 — 5.85 7 Trial modifications (6) — — (1 ) (1 ) — — — Total consumer 122 171 575 868 31 4.06 268 Total $ 125 227 1,225 1,577 89 3.61 % $ 324 Quarter ended September 30, 2014 Commercial: Commercial and industrial $ — 9 176 185 3 1.29 % $ 9 Real estate mortgage 4 50 180 234 — 1.20 50 Real estate construction — 2 31 33 — 2.15 2 Total commercial 4 61 387 452 3 1.25 61 Consumer: Real estate 1-4 family first mortgage 115 113 682 910 15 2.34 209 Real estate 1-4 family junior lien mortgage 12 31 62 105 17 3.23 41 Credit card — 38 — 38 — 11.59 38 Automobile — 2 22 24 9 8.46 2 Other revolving credit and installment — 3 6 9 — 5.22 3 Trial modifications (6) — — 28 28 — — — Total consumer 127 187 800 1,114 41 3.73 293 Total $ 131 248 1,187 1,566 44 3.30 % $ 354 Primary modification type (1) Financial effects of modifications (in millions) Principal (2) Interest rate reduction Other concessions (3) Total Charge- offs (4) Weighted average interest rate reduction Recorded investment related to interest rate reduction (5) Nine months ended September 30, 2015 Commercial: Commercial and industrial $ 3 26 1,136 1,165 60 1.17 % $ 26 Real estate mortgage 4 114 734 852 1 1.55 114 Real estate construction 11 4 66 81 — 0.77 4 Total commercial 18 144 1,936 2,098 61 1.46 144 Consumer: Real estate 1-4 family first mortgage 296 269 1,455 2,020 38 2.53 508 Real estate 1-4 family junior lien mortgage 25 65 129 219 30 3.17 86 Credit card — 125 — 125 — 11.36 125 Automobile 1 3 66 70 27 8.59 3 Other revolving credit and installment — 20 5 25 1 5.85 20 Trial modifications (6) — — 43 43 — — — Total consumer 322 482 1,698 2,502 96 4.21 742 Total $ 340 626 3,634 4,600 157 3.76 % $ 886 Nine months ended September 30, 2014 Commercial: Commercial and industrial $ 4 46 687 737 29 1.59 % $ 46 Real estate mortgage 7 143 748 898 — 1.22 143 Real estate construction — 4 198 202 — 1.88 4 Total commercial 11 193 1,633 1,837 29 1.33 193 Consumer: Real estate 1-4 family first mortgage 464 306 2,060 2,830 75 2.53 649 Real estate 1-4 family junior lien mortgage 42 90 199 331 50 3.27 126 Credit card — 118 — 118 — 11.33 118 Automobile 2 4 65 71 26 8.87 4 Other revolving credit and installment — 6 10 16 — 5.05 6 Trial modifications (6) — — (87 ) (87 ) — — — Total consumer 508 524 2,247 3,279 151 3.82 903 Total $ 519 717 3,880 5,116 180 3.38 % $ 1,096 (1) Amounts represent the recorded investment in loans after recognizing the effects of the TDR, if any. TDRs may have multiple types of concessions, but are presented only once in the first modification type based on the order presented in the table above. The reported amounts include loans remodified of $369 million and $464 million , for quarters ended September 30, 2015 and 2014 , and $1.5 billion and $1.6 billion for the nine months ended 2015 and 2014 , respectively. (2) Principal modifications include principal forgiveness at the time of the modification, contingent principal forgiveness granted over the life of the loan based on borrower performance, and principal that has been legally separated and deferred to the end of the loan, with a zero percent contractual interest rate. (3) Other concessions include loan renewals, term extensions and other interest and noninterest adjustments, but exclude modifications that also forgive principal and/or reduce the contractual interest rate. (4) Charge-offs include write-downs of the investment in the loan in the period it is contractually modified. The amount of charge-off will differ from the modification terms if the loan has been charged down prior to the modification based on our policies. In addition, there may be cases where we have a charge-off/down with no legal principal modification. Modifications resulted in legally forgiving principal (actual, contingent or deferred) of $32 million and $34 million for the quarters ended September 30, 2015 and 2014 , and $78 million and $126 million for the first nine months ended 2015 and 2014 , respectively. (5) Reflects the effect of reduced interest rates on loans with an interest rate concession as one of their concession types, which includes loans reported as a principal primary modification type that also have an interest rate concession. (6) Trial modifications are granted a delay in payments due under the original terms during the trial payment period. However, these loans continue to advance through delinquency status and accrue interest according to their original terms. Any subsequent permanent modification generally includes interest rate related concessions; however, the exact concession type and resulting financial effect are usually not known until the loan is permanently modified. Trial modifications for the period are presented net of previously reported trial modifications that became permanent in the current period. |
Troubled Debt Restructuring, Current Defaults | The table below summarizes permanent modification TDRs that have defaulted in the current period within 12 months of their permanent modification date. We are reporting these defaulted TDRs based on a payment default definition of 90 days past due for the commercial portfolio segment and 60 days past due for the consumer portfolio segment. Recorded investment of defaults Quarter ended September 30, Nine months ended September 30, (in millions) 2015 2014 2015 2014 Commercial: Commercial and industrial $ 12 33 58 63 Real estate mortgage 31 34 103 97 Real estate construction — 1 2 4 Total commercial 43 68 163 164 Consumer: Real estate 1-4 family first mortgage 49 91 143 248 Real estate 1-4 family junior lien mortgage 5 7 13 22 Credit card 12 13 39 39 Automobile 3 3 9 10 Other revolving credit and installment 1 — 3 — Total consumer 70 114 207 319 Total $ 113 182 370 483 |
Purchased Credit Impaired Loans, Loans Outstanding | The following table presents PCI loans net of any remaining purchase accounting adjustments. Real estate 1-4 family first mortgage PCI loans are predominantly Pick-a-Pay loans. (in millions) Sep 30, Dec 31, Commercial: Commercial and industrial $ 71 75 Real estate mortgage 606 1,261 Real estate construction 100 171 Total commercial 777 1,507 Consumer: Real estate 1-4 family first mortgage 19,885 21,712 Real estate 1-4 family junior lien mortgage 75 101 Total consumer 19,960 21,813 Total PCI loans (carrying value) $ 20,737 23,320 Total PCI loans (unpaid principal balance) $ 29,255 32,924 |
Purchased Credit Impaired Loans, Accretable Yield | The change in the accretable yield related to PCI loans since the merger with Wachovia is presented in the following table. (in millions) Balance, December 31, 2008 $ 10,447 Addition of accretable yield due to acquisitions 132 Accretion into interest income (1) (12,783 ) Accretion into noninterest income due to sales (2) (430 ) Reclassification from nonaccretable difference for loans with improving credit-related cash flows 8,568 Changes in expected cash flows that do not affect nonaccretable difference (3) 11,856 Balance, December 31, 2014 17,790 Addition of accretable yield due to acquisitions — Accretion into interest income (1) (1,102 ) Accretion into noninterest income due to sales (2) (28 ) Reclassification from nonaccretable difference for loans with improving credit-related cash flows 31 Changes in expected cash flows that do not affect nonaccretable difference (3) (34 ) Balance, September 30, 2015 $ 16,657 Balance, June 30, 2015 $ 16,970 Addition of accretable yield due to acquisitions — Accretion into interest income (1) (338 ) Accretion into noninterest income due to sales (2) — Reclassification from nonaccretable difference for loans with improving credit-related cash flows 1 Changes in expected cash flows that do not affect nonaccretable difference (3) 24 Balance, September 30, 2015 $ 16,657 (1) Includes accretable yield released as a result of settlements with borrowers, which is included in interest income. (2) Includes accretable yield released as a result of sales to third parties, which is included in noninterest income. (3) Represents changes in cash flows expected to be collected due to the impact of modifications, changes in prepayment assumptions, changes in interest rates on variable rate PCI loans and sales to third parties. |
Purchased Credit Impaired Loans, Allowance for Credit Losses | The following table summarizes the changes in allowance for PCI loan losses since the merger with Wachovia. (in millions) Commercial Pick-a-Pay Other consumer Total December 31, 2008 $ — — — — Provision for loan losses 1,629 — 104 1,733 Charge-offs (1,618 ) — (104 ) (1,722 ) Balance, December 31, 2014 11 — — 11 Provision for loan losses 6 — — 6 Charge-offs (12 ) — — (12 ) Balance, September 30, 2015 $ 5 — — 5 Balance, June 30, 2015 $ 7 — — 7 Provision for loan losses 1 — — 1 Charge-offs (3 ) — — (3 ) Balance, September 30, 2015 $ 5 — — 5 |
Purchased Credit Impaired Loans by Credit Quality Indicator | The following table provides a breakdown of commercial PCI loans by risk category. (in millions) Commercial and industrial Real estate mortgage Real estate construction Total September 30, 2015 By risk category: Pass $ 31 344 73 448 Criticized 40 262 27 329 Total commercial PCI loans $ 71 606 100 777 December 31, 2014 By risk category: Pass $ 21 783 118 922 Criticized 54 478 53 585 Total commercial PCI loans $ 75 1,261 171 1,507 |
Purchased Credit Impaired Loans by Delinquency Status, Commercial | The following table provides past due information for commercial PCI loans. (in millions) Commercial and industrial Real estate mortgage Real estate construction Total September 30, 2015 By delinquency status: Current-29 DPD and still accruing $ 71 541 99 711 30-89 DPD and still accruing — 4 — 4 90+ DPD and still accruing — 61 1 62 Total commercial PCI loans $ 71 606 100 777 December 31, 2014 By delinquency status: Current-29 DPD and still accruing $ 75 1,135 161 1,371 30-89 DPD and still accruing — 48 5 53 90+ DPD and still accruing — 78 5 83 Total commercial PCI loans $ 75 1,261 171 1,507 |
Purchased Credit Impaired Loans by Delinquency Status, Consumer | The following table provides the delinquency status of consumer PCI loans. September 30, 2015 December 31, 2014 (in millions) Real estate 1-4 family first mortgage Real estate 1-4 family junior lien mortgage Total Real estate 1-4 family first mortgage Real estate 1-4 family junior lien mortgage Total By delinquency status: Current-29 DPD and still accruing $ 18,456 209 18,665 19,236 168 19,404 30-59 DPD and still accruing 1,759 7 1,766 1,987 7 1,994 60-89 DPD and still accruing 759 3 762 1,051 3 1,054 90-119 DPD and still accruing 311 2 313 402 2 404 120-179 DPD and still accruing 320 2 322 440 3 443 180+ DPD and still accruing 3,244 12 3,256 3,654 83 3,737 Total consumer PCI loans (adjusted unpaid principal balance) $ 24,849 235 25,084 26,770 266 27,036 Total consumer PCI loans (carrying value) $ 19,885 75 19,960 21,712 101 21,813 |
Purchased Credit Impaired Loans by FICO Score, Consumer | The following table provides FICO scores for consumer PCI loans. September 30, 2015 December 31, 2014 (in millions) Real estate 1-4 family first mortgage Real estate 1-4 family junior lien mortgage Total Real estate 1-4 family first mortgage Real estate 1-4 family junior lien mortgage Total By FICO: < 600 $ 6,522 60 6,582 7,708 75 7,783 600-639 4,811 39 4,850 5,416 53 5,469 640-679 6,346 51 6,397 6,718 69 6,787 680-719 4,195 44 4,239 4,008 39 4,047 720-759 1,804 21 1,825 1,728 13 1,741 760-799 862 12 874 875 6 881 800+ 221 2 223 220 1 221 No FICO available 88 6 94 97 10 107 Total consumer PCI loans (adjusted unpaid principal balance) $ 24,849 235 25,084 26,770 266 27,036 Total consumer PCI loans (carrying value) $ 19,885 75 19,960 21,712 101 21,813 |
Purchased Credit Impaired Loans by Loan to Value Ratio, Consumer | The following table shows the distribution of consumer PCI loans by LTV for real estate 1-4 family first mortgages and by CLTV for real estate 1-4 family junior lien mortgages. September 30, 2015 December 31, 2014 (in millions) Real estate 1-4 family first mortgage by LTV Real estate 1-4 family junior lien mortgage by CLTV Total Real estate 1-4 family first mortgage by LTV Real estate 1-4 family junior lien mortgage by CLTV Total By LTV/CLTV: 0-60% $ 5,243 30 5,273 4,309 34 4,343 60.01-80% 10,140 66 10,206 11,264 71 11,335 80.01-100% 6,754 79 6,833 7,751 92 7,843 100.01-120% (1) 2,002 40 2,042 2,437 44 2,481 > 120% (1) 705 18 723 1,000 24 1,024 No LTV/CLTV available 5 2 7 9 1 10 Total consumer PCI loans (adjusted unpaid principal balance) $ 24,849 235 25,084 26,770 266 27,036 Total consumer PCI loans (carrying value) $ 19,885 75 19,960 21,712 101 21,813 (1) Reflects total loan balances with LTV/CLTV amounts in excess of 100%. In the event of default, the loss content would generally be limited to only the amount in excess of 100% LTV/CLTV. |
Other Assets (Tables)
Other Assets (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Other Assets [Abstract] | |
Components of Other Assets | The components of other assets were: (in millions) Sep 30, Dec 31, Nonmarketable equity investments: Cost method: Private equity and other (1) $ 2,389 2,300 Federal bank stock 4,397 4,733 Total cost method 6,786 7,033 Equity method: LIHTC investments (2) 7,959 7,278 Private equity and other 4,840 5,132 Total equity method 12,799 12,410 Fair value (3) 2,745 2,512 Total nonmarketable equity investments 22,330 21,955 Corporate/bank-owned life insurance 19,165 18,982 Accounts receivable (4) 27,441 27,151 Interest receivable 5,244 4,871 Core deposit intangibles 2,794 3,561 Customer relationship and other amortized intangibles 671 857 Foreclosed assets: Residential real estate: Government insured/guaranteed (4) 502 982 Non-government insured/guaranteed 499 671 Non-residential real estate 766 956 Operating lease assets 3,448 2,714 Due from customers on acceptances 317 201 Other (5) 15,531 16,156 Total other assets $ 98,708 99,057 (1) Reflects auction rate perpetual preferred equity securities that were reclassified at the beginning of second quarter 2015 with a cost basis of $689 million (fair value of $640 million ) from available-for-sale securities because they do not trade on a qualified exchange. (2) Represents low income housing tax credit investments. (3) Represents nonmarketable equity investments for which we have elected the fair value option. See Note 13 (Fair Values of Assets and Liabilities) for additional information. (4) Certain government-guaranteed residential real estate mortgage loans upon foreclosure are included in Accounts receivable effective January 1, 2014. Both principal and interest related to these foreclosed real estate assets are collectible because the loans were predominantly insured by the FHA or guaranteed by the VA. For more information on ASU 2014-14 and the classification of certain government-guaranteed mortgage loans upon foreclosure, see Note 1 (Summary of Significant Accounting Policies) to Financial Statements in our 2014 10-K. (5) Includes derivatives designated as hedging instruments, derivatives not designated as hedging instruments, and derivative loan commitments, which are carried at fair value. See Note 12 (Derivatives) for additional information. |
Income Related To Nonmarketable Equity Investments [Table Text Block] | Income (expense) related to nonmarketable equity investments was: Quarter ended September 30, Nine months ended September 30, (in millions) 2015 2014 2015 2014 Net realized gains from nonmarketable equity investments $ 632 309 1,462 1,241 All other (161 ) (160 ) (587 ) (592 ) Total $ 471 149 875 649 |
Securitizations and Variable 35
Securitizations and Variable Interest Entities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Securitizations and Variable Interest Entities [Abstract] | |
Assets and Liabilities associated with Variable Interest entities | The following table provides the classifications of assets and liabilities in our balance sheet for our transactions with VIEs. (in millions) VIEs that we do not consolidate VIEs that we consolidate Transfers that we account for as secured borrowings Total September 30, 2015 Cash $ — 149 — 149 Trading assets 1,505 1 203 1,709 Investment securities (1) 13,757 530 2,500 16,787 Loans 10,368 4,991 4,562 19,921 Mortgage servicing rights 11,827 — — 11,827 Other assets 8,599 279 29 8,907 Total assets 46,056 5,950 7,294 59,300 Short-term borrowings — — 1,909 1,909 Accrued expenses and other liabilities 798 61 (2) 1 860 Long-term debt 2,810 1,386 (2) 4,458 8,654 Total liabilities 3,608 1,447 6,368 11,423 Noncontrolling interests — 99 — 99 Net assets $ 42,448 4,404 926 47,778 December 31, 2014 Cash $ — 117 4 121 Trading assets 2,165 — 204 2,369 Investment securities (1) 18,271 875 4,592 23,738 Loans 13,195 4,509 5,280 22,984 Mortgage servicing rights 12,562 — — 12,562 Other assets 7,456 316 52 7,824 Total assets 53,649 5,817 10,132 69,598 Short-term borrowings — — 3,141 3,141 Accrued expenses and other liabilities 848 49 (2) 1 898 Long-term debt 2,585 1,628 (2) 4,990 9,203 Total liabilities 3,433 1,677 8,132 13,242 Noncontrolling interests — 103 — 103 Net assets $ 50,216 4,037 2,000 56,253 (1) Excludes certain debt securities related to loans serviced for the Federal National Mortgage Association (FNMA), Federal Home Loan Mortgage Corporation (FHLMC) and GNMA. (2) There were no VIE liabilities with recourse to the general credit of Wells Fargo for the periods presented. |
Transactions with Variable Interest Entity | The following tables provide a summary of unconsolidated VIEs with which we have significant continuing involvement, but we are not the primary beneficiary. We do not consider our continuing involvement in an unconsolidated VIE to be significant when it relates to third-party sponsored VIEs for which we were not the transferor (unless we are servicer and have other significant forms of involvement) or if we were the sponsor only or sponsor and servicer but do not have any other forms of significant involvement. Significant continuing involvement includes transactions where we were the sponsor or transferor and have other significant forms of involvement. Sponsorship includes transactions with unconsolidated VIEs where we solely or materially participated in the initial design or structuring of the entity or marketing of the transaction to investors. When we transfer assets to a VIE and account for the transfer as a sale, we are considered the transferor. We consider investments in securities (other than those held temporarily in trading), loans, guarantees, liquidity agreements, written options and servicing of collateral to be other forms of involvement that may be significant. We have excluded certain transactions with unconsolidated VIEs from the balances presented in the following table where we have determined that our continuing involvement is not significant due to the temporary nature and size of our variable interests, because we were not the transferor or because we were not involved in the design of the unconsolidated VIEs. We also exclude from the table secured borrowing transactions with unconsolidated VIEs (for information on these transactions, see the Transactions with Consolidated VIEs and Secured Borrowings section in this Note). Carrying value - asset (liability) (in millions) Total VIE assets Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Net assets September 30, 2015 Residential mortgage loan securitizations: Conforming (2) $ 1,211,810 2,622 10,975 — (544 ) 13,053 Other/nonconforming 26,583 1,362 154 — (5 ) 1,511 Commercial mortgage securitizations 189,175 6,939 698 256 (25 ) 7,868 Collateralized debt obligations: Debt securities 4,312 4 — 81 (60 ) 25 Loans (3) 3,868 3,761 — — — 3,761 Asset-based finance structures 14,027 9,547 — (68 ) — 9,479 Tax credit structures 24,487 8,632 — — (2,810 ) 5,822 Collateralized loan obligations 1,323 384 — — — 384 Investment funds 1,367 44 — — — 44 Other (4) 12,272 573 — (46 ) (26 ) 501 Total $ 1,489,224 33,868 11,827 223 (3,470 ) 42,448 Maximum exposure to loss Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Total exposure Residential mortgage loan securitizations: Conforming $ 2,622 10,975 — 2,065 15,662 Other/nonconforming 1,362 154 — 347 1,863 Commercial mortgage securitizations 6,939 698 256 6,576 14,469 Collateralized debt obligations: Debt securities 4 — 81 60 145 Loans (3) 3,761 — — — 3,761 Asset-based finance structures 9,547 — 81 444 10,072 Tax credit structures 8,632 — — 790 9,422 Collateralized loan obligations 384 — — — 384 Investment funds 44 — — — 44 Other (4) 573 — 119 176 868 Total $ 33,868 11,827 537 10,458 56,690 (continued on following page) (continued from previous page) Carrying value - asset (liability) (in millions) Total VIE assets Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Net assets December 31, 2014 Residential mortgage loan securitizations: Conforming (2) $ 1,268,200 2,846 11,684 — (581 ) 13,949 Other/nonconforming 32,213 1,644 209 — (8 ) 1,845 Commercial mortgage securitizations 196,510 8,756 650 251 (32 ) 9,625 Collateralized debt obligations: Debt securities 5,039 11 — 163 (105 ) 69 Loans (3) 5,347 5,221 — — — 5,221 Asset-based finance structures 18,954 13,044 — (71 ) — 12,973 Tax credit structures 22,859 7,809 — — (2,585 ) 5,224 Collateralized loan obligations 1,251 518 — — — 518 Investment funds 2,764 49 — — — 49 Other (4) 12,912 747 19 (18 ) (5 ) 743 Total $ 1,566,049 40,645 12,562 325 (3,316 ) 50,216 Maximum exposure to loss Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Total exposure Residential mortgage loan securitizations: Conforming $ 2,846 11,684 — 2,507 17,037 Other/nonconforming 1,644 209 — 345 2,198 Commercial mortgage securitizations 8,756 650 251 5,715 15,372 Collateralized debt obligations: Debt securities 11 — 163 105 279 Loans (3) 5,221 — — — 5,221 Asset-based finance structures 13,044 — 89 656 13,789 Tax credit structures 7,809 — — 725 8,534 Collateralized loan obligations 518 — — 38 556 Investment funds 49 — — — 49 Other (4) 747 19 150 156 1,072 Total $ 40,645 12,562 653 10,247 64,107 (1) Includes total equity interests of $8.6 billion and $8.1 billion at September 30, 2015 , and December 31, 2014 , respectively. Also includes debt interests in the form of both loans and securities. Excludes certain debt securities held related to loans serviced for FNMA, FHLMC and GNMA. (2) Excludes assets and related liabilities with a recorded carrying value on our balance sheet of $1.3 billion and $1.7 billion at September 30, 2015 , and December 31, 2014 , respectively, for certain delinquent loans that are eligible for repurchase primarily from GNMA loan securitizations. The recorded carrying value represents the amount that would be payable if the Company was to exercise the repurchase option. The carrying amounts are excluded from the table because the loans eligible for repurchase do not represent interests in the VIEs. (3) Represents senior loans to trusts that are collateralized by asset-backed securities. The trusts invest primarily in senior tranches from a diversified pool of primarily U.S. asset securitizations, of which all are current and 73% and 70% were rated as investment grade by the primary rating agencies at September 30, 2015 , and December 31, 2014 , respectively. These senior loans are accounted for at amortized cost and are subject to the Company’s allowance and credit charge-off policies. (4) Includes structured financing and credit-linked note structures. Also contains investments in auction rate securities (ARS) issued by VIEs that we do not sponsor and, accordingly, are unable to obtain the total assets of the entity. |
Cash flows with securitization trusts | The following table presents the cash flows for our transfers accounted for as sales. 2015 2014 (in millions) Mortgage loans Other financial assets Mortgage loans Other financial assets Quarter ended September 30, Proceeds from securitizations and whole loan sales $ 52,733 192 45,466 — Fees from servicing rights retained 902 1 980 2 Cash flows from other interests held (1) 328 10 470 19 Repurchases of assets/loss reimbursements (2): Non-agency securitizations and whole loan transactions 3 — 2 — Agency securitizations (3) 72 — 87 — Servicing advances, net of repayments (88 ) — (21 ) — Nine months ended September 30, Proceeds from securitizations and whole loan sales $ 153,626 373 122,910 — Fees from servicing rights retained 2,760 5 2,987 6 Cash flows from other interests held (1) 942 33 1,132 58 Repurchases of assets/loss reimbursements (2): Non-agency securitizations and whole loan transactions 10 — 5 — Agency securitizations (3) 210 — 256 — Servicing advances, net of repayments (342 ) — (156 ) — (1) Cash flows from other interests held include principal and interest payments received on retained bonds and excess cash flows received on interest-only strips. (2) Consists of cash paid to repurchase loans from investors and cash paid to investors to reimburse them for losses on individual loans that are already liquidated. In addition, during the third quarter and first nine months of 2014 , we paid $0 million and $78 million , respectively, to third-party investors to settle repurchase liabilities on pools of loans. There were no loan pool settlements in the third quarter and first nine months of 2015 . (3) Represent loans repurchased from GNMA, FNMA, and FHLMC under representation and warranty provisions included in our loan sales contracts. Third quarter and first nine months of 2015 exclude $2.2 billion and $ 8.2 billion , respectively, in delinquent insured/guaranteed loans that we service and have exercised our option to purchase out of GNMA pools, compared with $3.2 billion and $ 10.1 billion , respectively, in the same periods of 2014 . These loans are predominantly insured by the FHA or guaranteed by the VA. |
Key Assumptions To Measure Mortgage Servicing Assets At Date Of Securitization | The following table presents the key weighted-average assumptions we used to measure residential mortgage servicing rights at the date of securitization. Residential mortgage servicing rights 2015 2014 Quarter ended September 30, Prepayment speed (1) 11.5 % 12.1 Discount rate 7.1 7.7 Cost to service ($ per loan) (2) $ 223 267 Nine months ended September 30, Prepayment speed (1) 12.1 % 12.4 Discount rate 7.4 7.6 Cost to service ($ per loan) (2) $ 232 268 (1) The prepayment speed assumption for residential mortgage servicing rights includes a blend of prepayment speeds and default rates. Prepayment speed assumptions are influenced by mortgage interest rate inputs as well as our estimation of drivers of borrower behavior. (2) Includes costs to service and unreimbursed foreclosure costs, which can vary period to period depending on the mix of modified government-guaranteed loans sold to GNMA. |
Key Assumptions To Measure Mortgage Servicing Rights And Other Interests Held At Balance Sheet Date | The following table provides key economic assumptions and the sensitivity of the current fair value of residential mortgage servicing rights and other interests held to immediate adverse changes in those assumptions. “Other interests held” relate predominantly to residential and commercial mortgage loan securitizations. Residential mortgage-backed securities retained in securitizations issued through GSEs, such as FNMA, FHLMC and GNMA, are excluded from the table because these securities have a remote risk of credit loss due to the GSE guarantee. These securities also have economic characteristics similar to GSE mortgage-backed securities that we purchase, which are not included in the table. Subordinated interests include only those bonds whose credit rating was below AAA by a major rating agency at issuance. Senior interests include only those bonds whose credit rating was AAA by a major rating agency at issuance. The information presented excludes trading positions held in inventory. Other interests held Residential mortgage servicing rights (1) Interest-only strips Consumer Commercial (2) ($ in millions, except cost to service amounts) Subordinated bonds Subordinated bonds Senior bonds Fair value of interests held at September 30, 2015 $ 11,778 35 1 349 634 Expected weighted-average life (in years) 5.6 3.6 11.7 2.0 5.6 Key economic assumptions: Prepayment speed assumption (3) 12.4 % 19.2 15.5 Decrease in fair value from: 10% adverse change $ 680 1 — 25% adverse change 1,614 3 — Discount rate assumption 7.0 % 13.4 10.7 4.2 2.5 Decrease in fair value from: 100 basis point increase $ 574 1 — 6 30 200 basis point increase 1,097 1 — 12 59 Cost to service assumption ($ per loan) 165 Decrease in fair value from: 10% adverse change 570 25% adverse change 1,426 Credit loss assumption 1.1 % 2.9 — Decrease in fair value from: 10% higher losses $ — 1 — 25% higher losses — 6 — Fair value of interests held at December 31, 2014 $ 12,738 117 36 294 546 Expected weighted-average life (in years) 5.7 3.9 5.5 2.9 6.2 Key economic assumptions: Prepayment speed assumption (3) 12.5 % 11.4 7.1 Decrease in fair value from: 10% adverse change $ 738 2 — 25% adverse change 1,754 6 — Discount rate assumption 7.6 % 18.7 3.9 4.7 2.8 Decrease in fair value from: 100 basis point increase $ 617 2 2 8 29 200 basis point increase 1,178 4 3 15 55 Cost to service assumption ($ per loan) 179 Decrease in fair value from: 10% adverse change 579 25% adverse change 1,433 Credit loss assumption 0.4 % 4.1 — Decrease in fair value from: 10% higher losses $ — 3 — 25% higher losses — 10 — (1) See narrative following this table for a discussion of commercial mortgage servicing rights. (2) Prepayment speed assumptions do not significantly impact the value of commercial mortgage securitization bonds as the underlying commercial mortgage loans experience significantly lower prepayments due to certain contractual restrictions, impacting the borrower’s ability to prepay the mortgage. (3) The prepayment speed assumption for residential mortgage servicing rights includes a blend of prepayment speeds and default rates. Prepayment speed assumptions are influenced by mortgage interest rate inputs as well as our estimation of drivers of borrower behavior. |
Principal Balances - Off-Balance Sheet Securitized Loans | The following table presents information about the principal balances of off-balance sheet loans that were sold or securitized, including residential mortgage loans sold to FNMA, FHLMC, GNMA and other investors, for which we have some form of continuing involvement (primarily servicer). Delinquent loans include loans 90 days or more past due and loans in bankruptcy, regardless of delinquency status. For loans sold or securitized where servicing is our only form of continuing involvement, we would only experience a loss if we were required to repurchase a delinquent loan or foreclosed asset due to a breach in representations and warranties associated with our loan sale or servicing contracts. Net charge-offs Total loans Delinquent loans and foreclosed assets (1) Nine months ended September 30, (in millions) Sep 30, 2015 Dec 31, 2014 Sep 30, 2015 Dec 31, 2014 2015 2014 Commercial: Real estate mortgage $ 111,221 114,081 6,905 7,949 301 582 Total commercial 111,221 114,081 6,905 7,949 301 582 Consumer: Real estate 1-4 family first mortgage (2) 1,253,022 1,322,136 22,182 28,639 678 971 Real estate 1-4 family junior lien mortgage — 1 — — — — Other revolving credit and installment — 1,599 — 75 — 1 Total consumer 1,253,022 1,323,736 22,182 28,714 678 972 Total off-balance sheet sold or securitized loans (3) $ 1,364,243 1,437,817 29,087 36,663 979 1,554 (1) Includes $5.2 billion and $3.3 billion of commercial foreclosed assets and $2.4 billion and $2.7 billion of consumer foreclosed assets at September 30, 2015 , and December 31, 2014 , respectively. (2) Net charge-offs in the prior period have been revised to include net charge-offs on whole loan sales and transferred assets in foreclosure status for which we have risk of loss. (3) At September 30, 2015 , and December 31, 2014 , the table includes total loans of $1.2 trillion and 1.3 trillion , delinquent loans of $12.2 billion and $16.5 billion , and foreclosed assets of $1.8 billion and $2.4 billion , respectively, for FNMA, FHLMC and GNMA. Net charge-offs exclude loans sold to FNMA, FHLMC and GNMA as we do not service or manage the underlying real estate upon foreclosure and, as such, do not have access to net charge-off information. |
Transactions With Consolidated Variable Interest Entities | The following table presents a summary of financial assets and liabilities for asset transfers accounted for as secured borrowings and involvements with consolidated VIEs. “Assets” are presented using GAAP measurement methods, which may include fair value, credit impairment or other adjustments, and therefore in some instances will differ from “Total VIE assets.” For VIEs that obtain exposure synthetically through derivative instruments, the remaining notional amount of the derivative is included in “Total VIE assets.” On the consolidated balance sheet, we separately disclose the consolidated assets of certain VIEs that can only be used to settle the liabilities of those VIEs. Carrying value (in millions) Total VIE assets Assets Liabilities Noncontrolling interests Net assets September 30, 2015 Secured borrowings: Municipal tender option bond securitizations $ 3,170 2,732 (1,910 ) — 822 Commercial real estate loans — — — — — Residential mortgage securitizations 4,368 4,562 (4,458 ) — 104 Total secured borrowings 7,538 7,294 (6,368 ) — 926 Consolidated VIEs: Nonconforming residential mortgage loan securitizations 4,346 3,844 (1,302 ) — 2,542 Commercial real estate loans 1,177 1,177 — — 1,177 Structured asset finance 84 45 (42 ) — 3 Investment funds 581 581 (1 ) — 580 Other 345 303 (102 ) (99 ) 102 Total consolidated VIEs 6,533 5,950 (1,447 ) (99 ) 4,404 Total secured borrowings and consolidated VIEs $ 14,071 13,244 (7,815 ) (99 ) 5,330 December 31, 2014 Secured borrowings: Municipal tender option bond securitizations $ 5,422 4,837 (3,143 ) — 1,694 Commercial real estate loans 250 250 (63 ) — 187 Residential mortgage securitizations 4,804 5,045 (4,926 ) — 119 Total secured borrowings 10,476 10,132 (8,132 ) — 2,000 Consolidated VIEs: Nonconforming residential mortgage loan securitizations 5,041 4,491 (1,509 ) — 2,982 Structured asset finance 47 47 (23 ) — 24 Investment funds 904 904 (2 ) — 902 Other 431 375 (143 ) (103 ) 129 Total consolidated VIEs 6,423 5,817 (1,677 ) (103 ) 4,037 Total secured borrowings and consolidated VIEs $ 16,899 15,949 (9,809 ) (103 ) 6,037 |
Mortgage Banking Activities (Ta
Mortgage Banking Activities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Mortgage Banking Activities [Abstract] | |
Changes In Mortgage Servicing Rights Carried at Fair Value | The changes in MSRs measured using the fair value method were: Quarter ended Sep 30, Nine months ended Sep 30, (in millions) 2015 2014 2015 2014 Fair value, beginning of period $ 12,661 13,900 12,738 15,580 Servicing from securitizations or asset transfers 448 340 1,184 900 Sales and other (1) 6 — — — Net additions 454 340 1,184 900 Changes in fair value: Due to changes in valuation model inputs or assumptions: Mortgage interest rates (2) (858 ) 251 (313 ) (1,134 ) Servicing and foreclosure costs (3) (18 ) (4 ) (46 ) (15 ) Discount rates (4) — — — (55 ) Prepayment estimates and other (5) 43 6 (194 ) 181 Net changes in valuation model inputs or assumptions (833 ) 253 (553 ) (1,023 ) Other changes in fair value (6) (504 ) (462 ) (1,591 ) (1,426 ) Total changes in fair value (1,337 ) (209 ) (2,144 ) (2,449 ) Fair value, end of period $ 11,778 14,031 11,778 14,031 (1) Includes sales and transfers of MSRs, which can result in an increase of total reported MSRs if the sales or transfers are related to nonperforming loan portfolios. (2) Includes prepayment speed changes as well as other valuation changes due to changes in mortgage interest rates (such as changes in estimated interest earned on custodial deposit balances). (3) Includes costs to service and unreimbursed foreclosure costs. (4) Reflects discount rate assumption change, excluding portion attributable to changes in mortgage interest rates. (5) Represents changes driven by other valuation model inputs or assumptions including prepayment speed estimation changes and other assumption updates. Prepayment speed estimation changes are influenced by observed changes in borrower behavior and other external factors that occur independent of interest rate changes. (6) Represents changes due to collection/realization of expected cash flows over time. |
Changes In Amortized Mortgage Servicing Rights | The changes in amortized MSRs were: Quarter ended Sep 30, Nine months ended Sep 30, (in millions) 2015 2014 2015 2014 Balance, beginning of period $ 1,262 1,196 1,242 1,229 Purchases 45 47 96 119 Servicing from securitizations or asset transfers 35 29 131 67 Amortization (65 ) (48 ) (192 ) (191 ) Balance, end of period (1) $ 1,277 1,224 1,277 1,224 Fair value of amortized MSRs: Beginning of period $ 1,692 1,577 1,637 1,575 End of period 1,643 1,647 1,643 1,647 (1) Commercial amortized MSRs are evaluated for impairment purposes by the following risk strata: agency (GSEs) and non-agency. There was no valuation allowance recorded for the periods presented on the commercial amortized MSRs. |
Components of Managed Servicing Portfolio | We present the components of our managed servicing portfolio in the following table at unpaid principal balance for loans serviced and subserviced for others and at book value for owned loans serviced. (in billions) Sep 30, 2015 Dec 31, 2014 Residential mortgage servicing: Serviced for others $ 1,323 1,405 Owned loans serviced 346 342 Subserviced for others 4 5 Total residential servicing 1,673 1,752 Commercial mortgage servicing: Serviced for others 470 456 Owned loans serviced 121 112 Subserviced for others 7 7 Total commercial servicing 598 575 Total managed servicing portfolio $ 2,271 2,327 Total serviced for others $ 1,793 1,861 Ratio of MSRs to related loans serviced for others 0.73 % 0.75 |
Components of Mortgage Banking Noninterest Income | The components of mortgage banking noninterest income were: Quarter ended Sep 30, Nine months ended Sep 30, (in millions) 2015 2014 2015 2014 Servicing income, net: Servicing fees: Contractually specified servicing fees $ 1,001 1,058 3,029 3,217 Late charges 48 49 147 153 Ancillary fees 69 74 221 241 Unreimbursed direct servicing costs (1) (128 ) (262 ) (371 ) (494 ) Net servicing fees 990 919 3,026 3,117 Changes in fair value of MSRs carried at fair value: Due to changes in valuation model inputs or assumptions (2) (A) (833 ) 253 (553 ) (1,023 ) Other changes in fair value (3) (504 ) (462 ) (1,591 ) (1,426 ) Total changes in fair value of MSRs carried at fair value (1,337 ) (209 ) (2,144 ) (2,449 ) Amortization (65 ) (48 ) (192 ) (191 ) Net derivative gains from economic hedges (4) (B) 1,086 17 1,021 2,175 Total servicing income, net 674 679 1,711 2,652 Net gains on mortgage loan origination/sales activities 915 954 3,130 2,214 Total mortgage banking noninterest income $ 1,589 1,633 4,841 4,866 Market-related valuation changes to MSRs, net of hedge results (2)(4) (A)+(B) $ 253 270 468 1,152 (1) Primarily associated with foreclosure expenses and unreimbursed interest advances to investors. (2) Refer to the changes in fair value of MSRs table in this Note for more detail. (3) Represents changes due to collection/realization of expected cash flows over time. (4) Represents results from economic hedges used to hedge the risk of changes in fair value of MSRs. See Note 12 (Derivatives Not Designated as Hedging Instruments) for additional discussion and detail. |
Liability for Mortgage Loan Repurchase Losses | The table below summarizes the changes in our liability for mortgage loan repurchase losses. This liability is in “Accrued expenses and other liabilities” in our consolidated balance sheet and the provision for repurchase losses reduces net gains on mortgage loan origination/sales activities in “Mortgage banking” in our consolidated income statement. Because of the uncertainty in the various estimates underlying the mortgage repurchase liability, there is a range of losses in excess of the recorded mortgage repurchase liability that is reasonably possible. The estimate of the range of possible loss for representations and warranties does not represent a probable loss, and is based on currently available information, significant judgment, and a number of assumptions that are subject to change. The high end of this range of reasonably possible losses was $928 million in excess of our recorded liability at September 30, 2015 , and was determined based upon modifying the assumptions (particularly to assume significant changes in investor repurchase demand practices) used in our best estimate of probable loss to reflect what we believe to be the high end of reasonably possible adverse assumptions. Quarter ended Sep 30, Nine months ended Sep 30, (in millions) 2015 2014 2015 2014 Balance, beginning of period $ 557 766 615 899 Provision for repurchase losses: Loan sales 11 12 34 34 Change in estimate (1) (17 ) (93 ) (74 ) (135 ) Net additions (reductions) (6 ) (81 ) (40 ) (101 ) Losses (13 ) (16 ) (37 ) (129 ) Balance, end of period $ 538 669 538 669 (1) Results from changes in investor demand, mortgage insurer practices, credit and the financial stability of correspondent lenders. |
Intangible Assets (Tables)
Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Gross Carrying Value of Intangible Assets And Accumulated Amortization | The gross carrying value of intangible assets and accumulated amortization was: September 30, 2015 December 31, 2014 (in millions) Gross carrying value Accumulated amortization Net carrying value Gross carrying value Accumulated amortization Net carrying value Amortized intangible assets (1): MSRs (2) $ 3,130 (1,853 ) 1,277 2,906 (1,664 ) 1,242 Core deposit intangibles 12,834 (10,040 ) 2,794 12,834 (9,273 ) 3,561 Customer relationship and other intangibles 3,163 (2,492 ) 671 3,179 (2,322 ) 857 Total amortized intangible assets $ 19,127 (14,385 ) 4,742 18,919 (13,259 ) 5,660 Unamortized intangible assets: MSRs (carried at fair value) (2) $ 11,778 12,738 Goodwill 25,684 25,705 Trademark 14 14 (1) Excludes fully amortized intangible assets. (2) See Note 8 (Mortgage Banking Activities) for additional information on MSRs. |
Amortization Expense for Intangible Assets | The following table provides the current year and estimated future amortization expense for amortized intangible assets. We based our projections of amortization expense shown below on existing asset balances at September 30, 2015 . Future amortization expense may vary from these projections. (in millions) Amortized MSRs Core deposit intangibles Customer relationship and other intangibles Total Nine months ended September 30, 2015 (actual) $ 192 767 170 1,129 Estimate for the remainder of 2015 $ 66 255 55 376 Estimate for year ended December 31, 2016 243 919 208 1,370 2017 194 851 194 1,239 2018 157 769 185 1,111 2019 136 — 10 146 2020 123 — 6 129 |
Allocation of Goodwill to Operating Segments | The following table shows the allocation of goodwill to our reportable operating segments for purposes of goodwill impairment testing. (in millions) Community Banking Wholesale Banking Wealth and Investment Management Consolidated Company December 31, 2013 (1) $ 17,871 6,564 1,202 25,637 Reduction in goodwill related to divested businesses — (11 ) — (11 ) Goodwill from business combinations — 87 — 87 Other (8 ) — — (8 ) December 31, 2014 $ 17,863 6,640 1,202 25,705 Reduction in goodwill related to divested businesses (21 ) — — (21 ) September 30, 2015 $ 17,842 6,640 1,202 25,684 (1) December 31, 2013 has been revised to reflect realignment of our operating segments. See Note 18 (Operating Segments) for additional information. |
Guarantees, Pledged Assets an38
Guarantees, Pledged Assets and Collateral (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Guarantees [Abstract] | |
Schedule of Guarantor Obligations | The following table shows carrying value, maximum exposure to loss on our guarantees and the related non-investment grade amounts. September 30, 2015 Maximum exposure to loss (in millions) Carrying value Expires in one year or less Expires after one year through three years Expires after three years through five years Expires after five years Total Non- investment grade Standby letters of credit (1) $ 39 16,584 9,297 5,143 700 31,724 8,318 Securities lending and other indemnifications (2) — — — — 2,281 2,281 — Written put options (3) 619 7,268 6,328 4,426 2,047 20,069 10,889 Loans and MHFS sold with recourse (4) 63 117 664 682 6,004 7,467 4,443 Factoring guarantees (5) — 2,025 — — — 2,025 2,025 Other guarantees 17 65 18 18 2,548 2,649 57 Total guarantees $ 738 26,059 16,307 10,269 13,580 66,215 25,732 December 31, 2014 Maximum exposure to loss (in millions) Carrying Expires in Expires after Expires after Expires Total Non- Standby letters of credit (1) $ 41 16,271 10,269 6,295 645 33,480 8,447 Securities lending and other indemnifications (2) — — 2 2 5,948 5,952 — Written put options (3) 469 7,644 5,256 2,822 2,409 18,131 7,902 Loans and MHFS sold with recourse (4) 72 131 486 822 5,386 6,825 3,945 Factoring guarantees (5) — 3,460 — — — 3,460 3,460 Other guarantees 24 9 85 22 2,158 2,274 69 Total guarantees $ 606 27,515 16,098 9,963 16,546 70,122 23,823 (1) Total maximum exposure to loss includes direct pay letters of credit (DPLCs) of $12.1 billion and $15.0 billion at September 30, 2015 , and December 31, 2014 , respectively. We issue DPLCs to provide credit enhancements for certain bond issuances. Beneficiaries (bond trustees) may draw upon these instruments to make scheduled principal and interest payments, redeem all outstanding bonds because a default event has occurred, or for other reasons as permitted by the agreement. We also originate multipurpose lending commitments under which borrowers have the option to draw on the facility in one of several forms, including as a standby letter of credit. Total maximum exposure to loss includes the portion of these facilities for which we have issued standby letters of credit under the commitments. (2) Includes $0 million and $211 million at September 30, 2015 , and December 31, 2014 , respectively, in debt and equity securities lent from participating institutional client portfolios to third-party borrowers. Also includes indemnifications provided to certain third-party clearing agents. Outstanding customer obligations under these arrangements were $365 million and $950 million with related collateral of $1.9 billion and $5.6 billion at September 30, 2015 , and December 31, 2014 , respectively. Estimated maximum exposure to loss was $2.3 billion and $5.7 billion as of the same periods, respectively. (3) Written put options, which are in the form of derivatives, are also included in the derivative disclosures in Note 12 (Derivatives). (4) Represent recourse provided, predominantly to the GSEs, on loans sold under various programs and arrangements. Under these arrangements, we repurchased $2 million and $5 million of loans associated with these agreements in third quarter 2015 and 2014 , respectively, and $5 million and $10 million in the first nine months of 2015 and 2014 , respectively. (5) Consists of guarantees made under certain factoring arrangements to purchase trade receivables from third parties, generally upon their request, if receivable debtors default on their payment obligations. |
Significant Components of Assets Pledged | The following table provides the total carrying amount of pledged assets by asset type. The table excludes pledged consolidated VIE assets of $6.0 billion and $5.8 billion at September 30, 2015 , and December 31, 2014 , respectively, which can only be used to settle the liabilities of those entities. The table also excludes $7.3 billion and $10.1 billion in assets pledged in transactions accounted for as secured borrowings at September 30, 2015 and December 31, 2014 , respectively. See Note 7 (Securitizations and Variable Interest Entities) for additional information on consolidated VIE assets and secured borrowings. (in millions) Sep 30, Dec 31, Trading assets and other (1) $ 70,522 49,685 Investment securities (2) 95,882 101,997 Mortgages held for sale and Loans (3) 449,374 418,338 Total pledged assets $ 615,778 570,020 (1) Represent assets pledged to collateralize repurchase agreements and other securities financings. Balance includes $69.9 billion and $49.4 billion at September 30, 2015 , and December 31, 2014 , respectively, under agreements that permit the secured parties to sell or repledge the collateral. (2) Includes carrying value of $5.9 billion and $6.6 billion (fair value of $5.9 billion and $ 6.8 billion ) in collateral for repurchase agreements at September 30, 2015 , and December 31, 2014 , respectively, which are pledged under agreements that do not permit the secured parties to sell or repledge the collateral. Also includes $8.8 billion and $164 million in collateral pledged under repurchase agreements at September 30, 2015 , and December 31, 2014 , respectively, that permit the secured parties to sell or repledge the collateral. All other pledged securities are pursuant to agreements that do not permit the secured party to sell or repledge the collateral. (3) Includes mortgages held for sale of $11.6 billion and $8.7 billion at September 30, 2015 , and December 31, 2014 , respectively. Balance consists of mortgages held for sale and loans that are pledged under agreements that do not permit the secured parties to sell or repledge the collateral. Amounts exclude $1.3 billion and $1.7 billion at September 30, 2015 , and December 31, 2014 , respectively, of pledged loans recorded on our balance sheet representing certain delinquent loans that are eligible for repurchase primarily from GNMA loan securitizations. See Note 7 (Securitizations and Variable Interest Entities) for additional information. |
Offsetting of Resale and Repurchase Agreements and Securities Borrowing and Lending | The table below presents resale and repurchase agreements subject to master repurchase agreements (MRA) and securities borrowing and lending agreements subject to master securities lending agreements (MSLA). We account for transactions subject to these agreements as collateralized financings, and those with a single counterparty are presented net on our balance sheet, provided certain criteria are met that permit balance sheet netting. Most transactions subject to these agreements do not meet those criteria and thus are not eligible for balance sheet netting. Collateral we pledged consists of non-cash instruments, such as securities or loans, and is not netted on the balance sheet against the related liability. Collateral we received includes securities or loans and is not recognized on our balance sheet. Collateral pledged or received may be increased or decreased over time to maintain certain contractual thresholds as the assets underlying each arrangement fluctuate in value. Generally, these agreements require collateral to exceed the asset or liability recognized on the balance sheet. The following table includes the amount of collateral pledged or received related to exposures subject to enforceable MRAs or MSLAs. While these agreements are typically over-collateralized, U.S. GAAP requires disclosure in this table to limit the amount of such collateral to the amount of the related recognized asset or liability for each counterparty. In addition to the amounts included in the table below, we also have balance sheet netting related to derivatives that is disclosed within Note 12 (Derivatives). (in millions) Sep 30, Dec 31, Assets: Resale and securities borrowing agreements Gross amounts recognized $ 74,370 58,148 Gross amounts offset in consolidated balance sheet (1) (9,883 ) (6,477 ) Net amounts in consolidated balance sheet (2) 64,487 51,671 Collateral not recognized in consolidated balance sheet (3) (63,991 ) (51,624 ) Net amount (4) $ 496 47 Liabilities: Repurchase and securities lending agreements Gross amounts recognized (5) $ 83,798 56,583 Gross amounts offset in consolidated balance sheet (1) (9,883 ) (6,477 ) Net amounts in consolidated balance sheet (6) 73,915 50,106 Collateral pledged but not netted in consolidated balance sheet (7) (73,525 ) (49,713 ) Net amount (8) $ 390 393 (1) Represents recognized amount of resale and repurchase agreements with counterparties subject to enforceable MRAs or MSLAs that have been offset in the consolidated balance sheet. (2) At September 30, 2015 , and December 31, 2014 , includes $44.8 billion and $36.8 billion , respectively, classified on our consolidated balance sheet in Federal funds sold, securities purchased under resale agreements and other short-term investments and $19.7 billion and $14.9 billion , respectively, in Loans. (3) Represents the fair value of collateral we have received under enforceable MRAs or MSLAs, limited for table presentation purposes to the amount of the recognized asset due from each counterparty. At September 30, 2015 and December 31, 2014 , we have received total collateral with a fair value of $86.1 billion and $64.5 billion , respectively, all of which, we have the right to sell or repledge. These amounts include securities we have sold or repledged to others with a fair value of $51.3 billion at September 30, 2015 , and $40.8 billion at December 31, 2014 . (4) Represents the amount of our exposure that is not collateralized and/or is not subject to an enforceable MRA or MSLA. (5) For additional information on underlying collateral and contractual maturities, see the "Repurchase and Securities Lending Agreements" section in this Note. (6) Amount is classified in Short-term borrowings on our consolidated balance sheet. (7) Represents the fair value of collateral we have pledged, related to enforceable MRAs or MSLAs, limited for table presentation purposes to the amount of the recognized liability owed to each counterparty. At September 30, 2015 , and December 31, 2014 , we have pledged total collateral with a fair value of $85.2 billion and $56.5 billion , respectively, of which, the counterparty does not have the right to sell or repledge $6.5 billion as of September 30, 2015 and $6.9 billion as of December 31, 2014 . (8) Represents the amount of our obligation that is not covered by pledged collateral and/or is not subject to an enforceable MRA or MSLA. |
Contractual Maturities of Repurchase Agreements and Securities Lending Agreements | The following table provides the underlying collateral types of our gross obligations under repurchase and securities lending agreements. September 30, 2015 (in millions) Total Gross Obligation Repurchase agreements: Securities of U.S. Treasury and federal agencies $ 24,295 Securities of U.S. States and political subdivisions 43 Federal agency mortgage-backed securities 39,694 Non-agency mortgage-backed securities 1,491 Corporate debt securities 3,546 Asset-backed securities 2,402 Equity securities 1,224 Other 384 Total repurchases 73,079 Securities lending: Securities of U.S. Treasury and federal agencies 65 Securities of U.S. States and political subdivisions 10 Federal agency mortgage-backed securities 99 Corporate debt securities 732 Equity securities (1) 9,813 Total securities lending 10,719 Total repurchases and securities lending $ 83,798 (1) Equity securities are generally exchange traded and either re-hypothecated under margin lending agreements or obtained through contemporaneous securities borrowing transactions with other counterparties. The following table provides the contractual maturities of our gross obligations under repurchase and securities lending agreements. September 30, 2015 (in millions) Overnight/Continuous Up to 30 days 30-90 days >90 days Total Gross Obligation Repurchase agreements $ 48,452 19,424 3,202 2,001 73,079 Securities lending 9,540 — 969 210 10,719 Total repurchases and securities lending (1) $ 57,992 19,424 4,171 2,211 83,798 (1) Repurchase and securities lending transactions are largely conducted under enforceable master lending agreements that allow either party to terminate the transaction on demand. These transactions have been reported as continuous obligations unless the MRA or MSLA has been modified with an overriding agreement that specifies an alternative termination date. |
Derivatives (Tables)
Derivatives (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Total Notional or Contractual Amounts and Fair Values for Derivatives | The following table presents the total notional or contractual amounts and fair values for our derivatives. Derivative transactions can be measured in terms of the notional amount, but this amount is not recorded on the balance sheet and is not, when viewed in isolation, a meaningful measure of the risk profile of the instruments. The notional amount is generally not exchanged but is used only as the basis on which interest and other payments are determined. Derivatives designated as qualifying hedging instruments and economic hedges are recorded on the balance sheet at fair value in other assets or other liabilities. Customer accommodation, trading and other derivatives are recorded on the balance sheet at fair value in trading assets, other assets or other liabilities. September 30, 2015 December 31, 2014 Notional or contractual amount Fair value Notional or contractual amount Fair value (in millions) Derivative assets Derivative liabilities Derivative Derivative Derivatives designated as hedging instruments Interest rate contracts (1) $ 186,840 9,091 2,708 148,967 6,536 2,435 Foreign exchange contracts (1) 27,286 398 2,409 26,778 752 1,347 Total derivatives designated as qualifying hedging instruments 9,489 5,117 7,288 3,782 Derivatives not designated as hedging instruments Economic hedges: Interest rate contracts (2) 202,390 673 507 221,527 697 487 Equity contracts 6,577 502 45 5,219 367 96 Foreign exchange contracts 19,062 297 198 14,405 275 28 Subtotal 1,472 750 1,339 611 Customer accommodation, trading and other derivatives: Interest rate contracts 5,116,922 82,249 82,440 4,378,767 56,465 57,137 Commodity contracts 57,779 5,218 6,042 88,640 7,461 7,702 Equity contracts 136,981 7,307 5,078 138,422 8,638 6,942 Foreign exchange contracts 295,409 7,648 7,500 253,742 6,377 6,452 Credit contracts - protection sold 11,059 82 593 12,304 151 943 Credit contracts - protection purchased 19,318 576 91 16,659 755 168 Other contracts 1,790 — 70 1,994 — 44 Subtotal 103,080 101,814 79,847 79,388 Total derivatives not designated as hedging instruments 104,552 102,564 81,186 79,999 Total derivatives before netting 114,041 107,681 88,474 83,781 Netting (3) (94,142 ) (92,286 ) (65,869 ) (65,043 ) Total $ 19,899 15,395 22,605 18,738 (1) Notional amounts presented exclude $ 1.9 billion of interest rate contracts at both September 30, 2015 and December 31, 2014 , for certain derivatives that are combined for designation as a hedge on a single instrument. The notional amount for foreign exchange contracts at September 30, 2015 , and December 31, 2014 excludes $5.8 billion and $2.7 billion , respectively, for certain derivatives that are combined for designation as a hedge on a single instrument. (2) Includes economic hedge derivatives used to hedge the risk of changes in the fair value of residential MSRs, MHFS, loans, derivative loan commitments and other interests held. (3) Represents balance sheet netting of derivative asset and liability balances, related cash collateral and portfolio level counterparty valuation adjustments. See the next table in this Note for further information. |
Balance Sheet Offsetting of Derivative Assets and Liabilities | The following table provides information on the gross fair values of derivative assets and liabilities, the balance sheet netting adjustments and the resulting net fair value amount recorded on our balance sheet, as well as the non-cash collateral associated with such arrangements. We execute most of our derivative transactions under master netting arrangements. We reflect all derivative balances and related cash collateral subject to enforceable master netting arrangements on a net basis within the balance sheet. The “Gross amounts recognized” column in the following table includes $96.7 billion and $100.3 billion of gross derivative assets and liabilities, respectively, at September 30, 2015 , and $69.6 billion and $75.0 billion , respectively, at December 31, 2014 , with counterparties subject to enforceable master netting arrangements that are carried on the balance sheet net of offsetting amounts. The remaining gross derivative assets and liabilities of $17.3 billion and $7.3 billion , respectively, at September 30, 2015 and $18.9 billion and $8.8 billion , respectively, at December 31, 2014 , include those with counterparties subject to master netting arrangements for which we have not assessed the enforceability because they are with counterparties where we do not currently have positions to offset, those subject to master netting arrangements where we have not been able to confirm the enforceability and those not subject to master netting arrangements. As such, we do not net derivative balances or collateral within the balance sheet for these counterparties. We determine the balance sheet netting adjustments based on the terms specified within each master netting arrangement. We disclose the balance sheet netting amounts within the column titled “Gross amounts offset in consolidated balance sheet.” Balance sheet netting adjustments are determined at the counterparty level for which there may be multiple contract types. For disclosure purposes, we allocate these adjustments to the contract type for each counterparty proportionally based upon the “Gross amounts recognized” by counterparty. As a result, the net amounts disclosed by contract type may not represent the actual exposure upon settlement of the contracts. Balance sheet netting does not include non-cash collateral that we receive and pledge. For disclosure purposes, we present the fair value of this non-cash collateral in the column titled “Gross amounts not offset in consolidated balance sheet (Disclosure-only netting)” within the table. We determine and allocate the Disclosure-only netting amounts in the same manner as balance sheet netting amounts. The “Net amounts” column within the following table represents the aggregate of our net exposure to each counterparty after considering the balance sheet and Disclosure-only netting adjustments. We manage derivative exposure by monitoring the credit risk associated with each counterparty using counterparty specific credit risk limits, using master netting arrangements and obtaining collateral. Derivative contracts executed in over-the-counter markets include bilateral contractual arrangements that are not cleared through a central clearing organization but are typically subject to master netting arrangements. The percentage of our bilateral derivative transactions outstanding at period end in such markets, based on gross fair value, is provided within the following table. Other derivative contracts executed in over-the-counter or exchange-traded markets are settled through a central clearing organization and are excluded from this percentage. In addition to the netting amounts included in the table, we also have balance sheet netting related to resale and repurchase agreements that are disclosed within Note 10 (Guarantees, Pledged Assets and Collateral). (in millions) Gross amounts recognized Gross amounts offset in consolidated balance sheet (1) Net amounts in consolidated balance sheet (2) Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) (3) Net amounts Percent exchanged in over-the-counter market (4) September 30, 2015 Derivative assets Interest rate contracts $ 92,013 (84,393 ) 7,620 (928 ) 6,692 30 % Commodity contracts 5,218 (1,000 ) 4,218 (62 ) 4,156 32 Equity contracts 7,809 (2,811 ) 4,998 (449 ) 4,549 50 Foreign exchange contracts 8,343 (5,404 ) 2,939 (9 ) 2,930 99 Credit contracts-protection sold 82 (72 ) 10 — 10 90 Credit contracts-protection purchased 576 (462 ) 114 (2 ) 112 100 Total derivative assets $ 114,041 (94,142 ) 19,899 (1,450 ) 18,449 Derivative liabilities Interest rate contracts $ 85,655 (80,128 ) 5,527 (3,890 ) 1,637 26 % Commodity contracts 6,042 (1,065 ) 4,977 (143 ) 4,834 84 Equity contracts 5,123 (2,253 ) 2,870 (217 ) 2,653 81 Foreign exchange contracts 10,107 (8,321 ) 1,786 (175 ) 1,611 100 Credit contracts-protection sold 593 (463 ) 130 (100 ) 30 100 Credit contracts-protection purchased 91 (56 ) 35 (15 ) 20 78 Other contracts 70 — 70 — 70 100 Total derivative liabilities $ 107,681 (92,286 ) 15,395 (4,540 ) 10,855 December 31, 2014 Derivative assets Interest rate contracts $ 63,698 (56,051 ) 7,647 (769 ) 6,878 45 % Commodity contracts 7,461 (1,233 ) 6,228 (72 ) 6,156 27 Equity contracts 9,005 (2,842 ) 6,163 (405 ) 5,758 54 Foreign exchange contracts 7,404 (4,923 ) 2,481 (85 ) 2,396 98 Credit contracts-protection sold 151 (131 ) 20 — 20 90 Credit contracts-protection purchased 755 (689 ) 66 (1 ) 65 100 Total derivative assets $ 88,474 (65,869 ) 22,605 (1,332 ) 21,273 Derivative liabilities Interest rate contracts $ 60,059 (54,394 ) 5,665 (4,244 ) 1,421 44 % Commodity contracts 7,702 (1,459 ) 6,243 (33 ) 6,210 81 Equity contracts 7,038 (2,845 ) 4,193 (484 ) 3,709 82 Foreign exchange contracts 7,827 (5,511 ) 2,316 (270 ) 2,046 100 Credit contracts-protection sold 943 (713 ) 230 (199 ) 31 100 Credit contracts-protection purchased 168 (121 ) 47 (18 ) 29 86 Other contracts 44 — 44 — 44 100 Total derivative liabilities $ 83,781 (65,043 ) 18,738 (5,248 ) 13,490 (1) Represents amounts with counterparties subject to enforceable master netting arrangements that have been offset in the consolidated balance sheet, including related cash collateral and portfolio level counterparty valuation adjustments. Counterparty valuation adjustments were $390 million and $266 million related to derivative assets and $99 million and $56 million related to derivative liabilities at September 30, 2015 and December 31, 2014 , respectively. Cash collateral totaled $6.5 billion and $5.0 billion , netted against derivative assets and liabilities, respectively, at September 30, 2015 , and $5.2 billion and $4.6 billion , respectively, at December 31, 2014 . (2) Net derivative assets of $15.2 billion and $16.9 billion are classified in Trading assets at September 30, 2015 and December 31, 2014 , respectively. $4.7 billion and $5.7 billion are classified in Other assets in the consolidated balance sheet at September 30, 2015 and December 31, 2014 , respectively. Net derivative liabilities are classified in Accrued expenses and other liabilities in the consolidated balance sheet. (3) Represents non-cash collateral pledged and received against derivative assets and liabilities with the same counterparty that are subject to enforceable master netting arrangements. U.S. GAAP does not permit netting of such non-cash collateral balances in the consolidated balance sheet but requires disclosure of these amounts. (4) Represents derivatives executed in over-the-counter markets that are not settled through a central clearing organization. Over-the-counter percentages are calculated based on gross amounts recognized as of the respective balance sheet date. The remaining percentage represents derivatives settled through a central clearing organization, which are executed in either over-the-counter or exchange-traded markets. |
Net Gains (Losses) Recognized in the Income Statement Related to Derivatives in Fair Value Hedging Relationships | The following table shows the net gains (losses) recognized in the income statement related to derivatives in fair value hedging relationships. The entire derivative gain or loss is included in the assessment of hedge effectiveness for all fair value hedge relationships, except for those involving foreign-currency denominated available-for-sale securities and long-term debt hedged with foreign currency forward derivatives for which the time value component of the derivative gain or loss related to the changes in the difference between the spot and forward price is excluded from the assessment of hedge effectiveness. Interest rate contracts hedging: Foreign exchange contracts hedging: Total net gains (losses) on fair value hedges (in millions) Available- for-sale securities Mortgages held for sale Long-term debt Available- for-sale securities Long-term debt Quarter ended September 30, 2015 Net interest income (expense) recognized on derivatives $ (199 ) (3 ) 494 — 35 327 Gains (losses) recorded in noninterest income Recognized on derivatives (1,182 ) (20 ) 2,233 27 (200 ) 858 Recognized on hedged item 1,180 16 (2,039 ) (29 ) 213 (659 ) Net recognized on fair value hedges (ineffective portion) (1) $ (2 ) (4 ) 194 (2 ) 13 199 Quarter ended September 30, 2014 Net interest income (expense) recognized on derivatives $ (183 ) (2 ) 467 (1 ) 82 363 Gains (losses) recorded in noninterest income Recognized on derivatives (28 ) 1 18 294 (1,274 ) (989 ) Recognized on hedged item 23 (5 ) 37 (286 ) 1,305 1,074 Net recognized on fair value hedges (ineffective portion) (1) $ (5 ) (4 ) 55 8 31 85 Nine months ended September 30, 2015 Net interest income (expense) recognized on derivatives $ (585 ) (10 ) 1,445 — 152 1,002 Gains (losses) recorded in noninterest income Recognized on derivatives (496 ) (14 ) 1,186 191 (1,823 ) (956 ) Recognized on hedged item 484 5 (1,121 ) (187 ) 1,860 1,041 Net recognized on fair value hedges (ineffective portion) (1) $ (12 ) (9 ) 65 4 37 85 Nine months ended September 30, 2014 Net interest income (expense) recognized on derivatives $ (536 ) (12 ) 1,371 (9 ) 232 1,046 Gains (losses) recorded in noninterest income Recognized on derivatives (973 ) (25 ) 1,801 275 (860 ) 218 Recognized on hedged item 947 14 (1,530 ) (271 ) 931 91 Net recognized on fair value hedges (ineffective portion) (1) $ (26 ) (11 ) 271 4 71 309 (1) The third quarter and first nine months of 2015 , included $(1) million and $(4) million , respectively, and both the third quarter and first nine months of 2014 included $0 million of the time value component recognized as net interest income (expense) on forward derivatives hedging foreign currency available-for-sale securities and long-term debt that were excluded from the assessment of hedge effectiveness. |
Net Gains (Losses) Recognized Related to Derivatives in Cash Flow Hedging Relationships | The following table shows the net gains (losses) recognized related to derivatives in cash flow hedging relationships. Quarter Nine months (in millions) 2015 2014 2015 2014 Gains (losses) (pre tax) recognized in OCI on derivatives $ 1,769 (34 ) 2,233 222 Gains (pre tax) reclassified from cumulative OCI into net income (1) 293 127 795 348 Gains (losses) (pre tax) recognized in noninterest income for hedge ineffectiveness (2) — — 1 1 (1) See Note 17 (Other Comprehensive Income) for detail on components of net income. (2) None of the change in value of the derivatives was excluded from the assessment of hedge effectiveness. |
Net Gains (Losses) Recognized in the Income Statement Related to Derivatives not Designated as Hedging Instruments | The following table shows the net gains recognized in the income statement related to derivatives not designated as hedging instruments. Quarter Nine months (in millions) 2015 2014 2015 2014 Net gains (losses) recognized on economic hedges derivatives: Interest rate contracts Recognized in noninterest income: Mortgage banking (1) $ 621 85 885 926 Other (2) (92 ) (25 ) (42 ) (150 ) Equity contracts (3) (90 ) (47 ) (85 ) 76 Foreign exchange contracts (2) 325 530 303 482 Credit contracts (2) — (1 ) — (1 ) Subtotal (4) 764 542 1,061 1,333 Net gains (losses) recognized on customer accommodation, trading and other derivatives: Interest rate contracts Recognized in noninterest income: Mortgage banking (5) 442 142 806 930 Other (6) (340 ) 4 56 (724 ) Commodity contracts (6) 10 23 54 60 Equity contracts (6) 747 (197 ) 797 (505 ) Foreign exchange contracts (6) 286 185 611 599 Credit contracts (6) 37 9 36 41 Other (4)(6) (33 ) (12 ) (26 ) (21 ) Subtotal (4) 1,149 154 2,334 380 Net gains recognized related to derivatives not designated as hedging instruments $ 1,913 696 3,395 1,713 (1) Predominantly mortgage banking noninterest income including gains (losses) on the derivatives used as economic hedges of MSRs measured at fair value, interest rate lock commitments and mortgages held for sale. (2) Predominantly included in other noninterest income. (3) Predominantly included in net gains (losses) from equity investments in noninterest income. (4) Prior period has been revised to conform with current period presentation. (5) Predominantly mortgage banking noninterest income including gains (losses) on interest rate lock commitments. (6) Predominantly included in net gains from trading activities in noninterest income. |
Details of Sold and Purchased Credit Derivatives | The following table provides details of sold and purchased credit derivatives. Notional amount (in millions) Fair value liability Protection sold (A) Protection sold - non- investment grade Protection purchased with identical underlyings (B) Net protection sold (A) - (B) Other protection purchased Range of maturities September 30, 2015 Credit default swaps on: Corporate bonds $ 29 5,131 1,801 3,889 1,242 2,514 2015 - 2025 Structured products 340 680 539 456 224 126 2017 - 2052 Credit protection on: Default swap index — 1,762 302 968 794 1,794 2015 - 2020 Commercial mortgage-backed securities index 205 833 — 728 105 392 2047 - 2057 Asset-backed securities index 18 48 — 1 47 72 2045 - 2046 Other 1 2,605 2,605 — 2,605 8,378 2015 - 2025 Total credit derivatives $ 593 11,059 5,247 6,042 5,017 13,276 December 31, 2014 Credit default swaps on: Corporate bonds $ 23 6,344 2,904 4,894 1,450 2,831 2015 - 2021 Structured products 654 1,055 874 608 447 277 2017 - 2052 Credit protection on: Default swap index — 1,659 292 777 882 1,042 2015 - 2019 Commercial mortgage-backed securities index 246 1,058 — 608 450 355 2047 - 2063 Asset-backed securities index 19 52 1 1 51 81 2045 - 2046 Other 1 2,136 2,136 — 2,136 5,185 2015 - 2025 Total credit derivatives $ 943 12,304 6,207 6,888 5,416 9,771 |
Fair Values of Assets and Lia40
Fair Values of Assets and Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Measurements from Brokers or Third Party Pricing Services | The detail by level is shown in the table below. Fair value measurements obtained from brokers or third party pricing services that we have adjusted to determine the fair value recorded in our financial statements are not included in the following table. Brokers Third party pricing services (in millions) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 September 30, 2015 Trading assets (excluding derivatives) $ — — — — 7 — Available-for-sale securities: Securities of U.S. Treasury and federal agencies — — — 29,430 5,993 — Securities of U.S. states and political subdivisions — — — — 47,506 54 Mortgage-backed securities — 152 — — 127,541 84 Other debt securities (1) — 305 463 — 47,979 449 Total debt securities — 457 463 29,430 229,019 587 Total marketable equity securities — — — — 494 — Total available-for-sale securities — 457 463 29,430 229,513 587 Derivatives (trading and other assets) — — — — 228 — Derivatives (liabilities) — — — — (224 ) — Other liabilities — — — — (1 ) — December 31, 2014 Trading assets (excluding derivatives) $ — — — 2 105 — Available-for-sale securities: Securities of U.S. Treasury and federal agencies — — — 19,899 5,905 — Securities of U.S. states and political subdivisions — — — — 42,666 61 Mortgage-backed securities — 152 — — 135,997 133 Other debt securities (1) — 1,035 601 — 41,933 541 Total debt securities — 1,187 601 19,899 226,501 735 Total marketable equity securities — — — — 569 — Total available-for-sale securities — 1,187 601 19,899 227,070 735 Derivatives (trading and other assets) — 1 — — 290 — Derivatives (liabilities) — (1 ) — — (292 ) — Other liabilities — — — — (1 ) — (1) Includes corporate debt securities, collateralized loan and other debt obligations, asset-backed securities, and other debt securities. |
Assets and Liabilities Recorded at Fair Value on a Recurring Basis | The following two tables present the balances of assets and liabilities recorded at fair value on a recurring basis. (in millions) Level 1 Level 2 Level 3 Netting Total September 30, 2015 Trading assets (excluding derivatives) Securities of U.S. Treasury and federal agencies $ 11,052 3,389 — — 14,441 Securities of U.S. states and political subdivisions — 1,639 9 — 1,648 Collateralized loan and other debt obligations (1) — 413 390 — 803 Corporate debt securities — 7,016 46 — 7,062 Mortgage-backed securities — 21,377 — — 21,377 Asset-backed securities — 1,088 — — 1,088 Equity securities 11,329 88 1 — 11,418 Total trading securities (2) 22,381 35,010 446 — 57,837 Other trading assets — 820 34 — 854 Total trading assets (excluding derivatives) 22,381 35,830 480 — 58,691 Securities of U.S. Treasury and federal agencies 29,430 5,993 — — 35,423 Securities of U.S. states and political subdivisions — 47,506 1,917 (3) — 49,423 Mortgage-backed securities: Federal agencies — 105,023 — — 105,023 Residential — 8,128 — — 8,128 Commercial — 14,624 84 — 14,708 Total mortgage-backed securities — 127,775 84 — 127,859 Corporate debt securities 64 15,045 381 — 15,490 Collateralized loan and other debt obligations (4) — 29,329 725 (3) — 30,054 Asset-backed securities: Auto loans and leases — 14 248 (3) — 262 Home equity loans — 428 — — 428 Other asset-backed securities — 4,276 1,240 (3) — 5,516 Total asset-backed securities — 4,718 1,488 — 6,206 Other debt securities — 10 — — 10 Total debt securities 29,494 230,376 4,595 — 264,465 Marketable equity securities: Perpetual preferred securities 446 494 — — 940 Other marketable equity securities 1,001 — — — 1,001 Total marketable equity securities 1,447 494 — — 1,941 Total available-for-sale securities 30,941 230,870 4,595 — 266,406 Mortgages held for sale — 16,165 1,462 — 17,627 Loans held for sale — — — — — Loans — — 5,529 — 5,529 Mortgage servicing rights (residential) — — 11,778 — 11,778 Derivative assets: Interest rate contracts 85 91,468 460 — 92,013 Commodity contracts — 5,191 27 — 5,218 Equity contracts 3,900 3,014 895 — 7,809 Foreign exchange contracts 114 8,206 23 — 8,343 Credit contracts — 357 301 — 658 Netting — — — (94,142 ) (5) (94,142 ) Total derivative assets (6) 4,099 108,236 1,706 (94,142 ) 19,899 Other assets — — 2,808 — 2,808 Total assets recorded at fair value $ 57,421 391,101 28,358 (94,142 ) 382,738 Derivative liabilities: Interest rate contracts $ (43 ) (85,595 ) (17 ) — (85,655 ) Commodity contracts — (6,019 ) (23 ) — (6,042 ) Equity contracts (969 ) (3,155 ) (999 ) — (5,123 ) Foreign exchange contracts (113 ) (9,971 ) (23 ) — (10,107 ) Credit contracts — (342 ) (342 ) — (684 ) Other derivative contracts — — (70 ) — (70 ) Netting — — — 92,286 (5) 92,286 Total derivative liabilities (6) (1,125 ) (105,082 ) (1,474 ) 92,286 (15,395 ) Short sale liabilities: Securities of U.S. Treasury and federal agencies (9,754 ) (968 ) — — (10,722 ) Securities of U.S. states and political subdivisions — — — — — Corporate debt securities — (4,292 ) — — (4,292 ) Equity securities (2,396 ) (2 ) — — (2,398 ) Other securities — (21 ) — — (21 ) Total short sale liabilities (12,150 ) (5,283 ) — — (17,433 ) Other liabilities (excluding derivatives) — — (20 ) — (20 ) Total liabilities recorded at fair value $ (13,275 ) (110,365 ) (1,494 ) 92,286 (32,848 ) (1) The entire balance is collateralized loan obligations. (2) Net gains (losses) from trading activities recognized in the income statement for the first nine months of 2015 and 2014 include $(985) million and $90 million in net unrealized gains (losses) on trading securities held at September 30, 2015 and 2014 , respectively. (3) Balances consist of securities that are mostly investment grade based on ratings received from the ratings agencies or internal credit grades categorized as investment grade if external ratings are not available. The securities are classified as Level 3 due to limited market activity. (4) Includes collateralized debt obligations of $316 million . (5) Represents balance sheet netting of derivative asset and liability balances, related cash collateral and portfolio level counterparty valuation adjustments. See Note 12 (Derivatives) for additional information. (6) Derivative assets and derivative liabilities include contracts qualifying for hedge accounting, economic hedges, and derivatives included in trading assets and trading liabilities, respectively. (continued on following page) (continued from previous page) (in millions) Level 1 Level 2 Level 3 Netting Total December 31, 2014 Trading assets (excluding derivatives) Securities of U.S. Treasury and federal agencies $ 10,506 3,886 — — 14,392 Securities of U.S. states and political subdivisions — 1,537 7 — 1,544 Collateralized loan and other debt obligations (1) — 274 445 — 719 Corporate debt securities — 7,517 54 — 7,571 Mortgage-backed securities — 16,273 — — 16,273 Asset-backed securities — 776 79 — 855 Equity securities 18,512 38 10 — 18,560 Total trading securities (2) 29,018 30,301 595 — 59,914 Other trading assets — 1,398 55 — 1,453 Total trading assets (excluding derivatives) 29,018 31,699 650 — 61,367 Securities of U.S. Treasury and federal agencies 19,899 5,905 — — 25,804 Securities of U.S. states and political subdivisions — 42,667 2,277 (3) — 44,944 Mortgage-backed securities: Federal agencies — 110,089 — — 110,089 Residential — 9,245 24 — 9,269 Commercial — 16,885 109 — 16,994 Total mortgage-backed securities — 136,219 133 — 136,352 Corporate debt securities 83 14,451 252 — 14,786 Collateralized loan and other debt obligations (4) — 24,274 1,087 (3) — 25,361 Asset-backed securities: Auto loans and leases — 31 245 (3) — 276 Home equity loans — 662 — — 662 Other asset-backed securities — 4,189 1,372 (3) — 5,561 Total asset-backed securities — 4,882 1,617 — 6,499 Other debt securities — 20 — — 20 Total debt securities 19,982 228,418 5,366 — 253,766 Marketable equity securities: Perpetual preferred securities (5) 468 569 663 (3) — 1,700 Other marketable equity securities 1,952 24 — — 1,976 Total marketable equity securities 2,420 593 663 — 3,676 Total available-for-sale securities 22,402 229,011 6,029 — 257,442 Mortgages held for sale — 13,252 2,313 — 15,565 Loans held for sale — 1 — — 1 Loans — — 5,788 — 5,788 Mortgage servicing rights (residential) — — 12,738 — 12,738 Derivative assets: Interest rate contracts 27 63,306 365 — 63,698 Commodity contracts — 7,438 23 — 7,461 Equity contracts 4,102 3,544 1,359 — 9,005 Foreign exchange contracts 65 7,339 — — 7,404 Credit contracts — 440 466 — 906 Netting — — — (65,869 ) (6) (65,869 ) Total derivative assets (7) 4,194 82,067 2,213 (65,869 ) 22,605 Other assets — — 2,593 — 2,593 Total assets recorded at fair value $ 55,614 356,030 32,324 (65,869 ) 378,099 Derivative liabilities: Interest rate contracts $ (29 ) (59,958 ) (72 ) — (60,059 ) Commodity contracts — (7,680 ) (22 ) — (7,702 ) Equity contracts (1,290 ) (4,305 ) (1,443 ) — (7,038 ) Foreign exchange contracts (60 ) (7,767 ) — — (7,827 ) Credit contracts — (456 ) (655 ) — (1,111 ) Other derivative contracts — — (44 ) — (44 ) Netting — — — 65,043 (6) 65,043 Total derivative liabilities (7) (1,379 ) (80,166 ) (2,236 ) 65,043 (18,738 ) Short sale liabilities: Securities of U.S. Treasury and federal agencies (7,043 ) (1,636 ) — — (8,679 ) Securities of U.S. states and political subdivisions — (26 ) — — (26 ) Corporate debt securities — (5,055 ) — — (5,055 ) Equity securities (2,259 ) (2 ) — — (2,261 ) Other securities — (73 ) (6 ) — (79 ) Total short sale liabilities (9,302 ) (6,792 ) (6 ) — (16,100 ) Other liabilities (excluding derivatives) — — (28 ) — (28 ) Total liabilities recorded at fair value $ (10,681 ) (86,958 ) (2,270 ) 65,043 (34,866 ) (1) The entire balance is collateralized loan obligations. (2) Net gains from trading activities recognized in the income statement for the year ended December 31, 2014 , include $211 million in net unrealized gains on trading securities held at December 31, 2014 . (3) Balances consist of securities that are mostly investment grade based on ratings received from the ratings agencies or internal credit grades categorized as investment grade if external ratings are not available. The securities are classified as Level 3 due to limited market activity. (4) Includes collateralized debt obligations of $500 million . (5) Perpetual preferred securities include ARS and corporate preferred securities. See Note 7 (Securitizations and Variable Interest Entities) for additional information. (6) Represents balance sheet netting of derivative asset and liability balances, related cash collateral and portfolio level counterparty valuation adjustments. See Note 12 (Derivatives) for additional information. (7) Derivative assets and derivative liabilities include contracts qualifying for hedge accounting, economic hedges, and derivatives included in trading assets and trading liabilities, respectively. |
Fair Value, Transfers Between Fair Value Levels | Transfers into and out of Level 1, Level 2, and Level 3 for the periods presented are provided within the following table. The amounts reported as transfers represent the fair value as of the beginning of the quarter in which the transfer occurred. Transfers Between Fair Value Levels Level 1 Level 2 Level 3 (1) (in millions) In Out In Out In Out Total Quarter ended September 30, 2015 Trading assets (excluding derivatives) $ — (8 ) 10 (10 ) 10 (2 ) — Available-for-sale securities — — — — — — — Mortgages held for sale — — 11 (60 ) 60 (11 ) — Loans — — — — — — — Net derivative assets and liabilities (2) — — (3 ) — — 3 — Short sale liabilities — 1 (1 ) — — — — Total transfers $ — (7 ) 17 (70 ) 70 (10 ) — Quarter ended September 30, 2014 Trading assets (excluding derivatives) $ — — 15 (1 ) 1 (15 ) — Available-for-sale securities — — 218 — — (218 ) — Mortgages held for sale — — 24 (36 ) 36 (24 ) — Loans — — — — — — — Net derivative assets and liabilities (2) — — (16 ) 83 (83 ) 16 — Total transfers $ — — 241 46 (46 ) (241 ) — Nine months ended September 30, 2015 Trading assets (excluding derivatives) $ 16 (11 ) 103 (26 ) 11 (93 ) — Available-for-sale securities (3) — — 76 — — (76 ) — Mortgages held for sale — — 464 (155 ) 155 (464 ) — Loans — — — — — — — Net derivative assets and liabilities (4) — — 49 12 (12 ) (49 ) — Short sale liabilities (1 ) 1 (1 ) 1 — — — Total transfers $ 15 (10 ) 691 (168 ) 154 (682 ) — Nine months ended September 30, 2014 Trading assets (excluding derivatives) $ — — 55 (29 ) 29 (55 ) — Available-for-sale securities — (8 ) 323 (148 ) 148 (315 ) — Mortgages held for sale — — 146 (232 ) 232 (146 ) — Loans — — 49 (270 ) 270 (49 ) — Net derivative assets and liabilities (2) — — (103 ) 83 (83 ) 103 — Total transfers $ — (8 ) 470 (596 ) 596 (462 ) — (1) All transfers in and out of Level 3 are disclosed within the recurring Level 3 rollforward table in this Note. (2) Includes net derivative liabilities that were transferred from Level 3 to Level 2 due to increased observable market data. Also includes net derivative liabilities that were transferred from Level 2 to Level 3 due to a decrease in observable market data. (3) Transfers out of Level 3 exclude $640 million in auction rate perpetual preferred equity securities that were transferred in second quarter 2015 from available-for-sale securities to nonmarketable equity investments in other assets. See Note 6 (Other Assets) for additional information. (4) Includes net derivative assets that were transferred from Level 3 to Level 2 due to increased observable market data. Also includes net derivative liabilities that were transferred from Level 2 to Level 3 due to a decrease in observable market data. |
Fair Value, Assets and Liabilities Measured on Recurring Basis, Level 3 Reconciliation | The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarter ended September 30, 2015 , are summarized as follows: Total net gains (losses) included in Purchases, sales, issuances and settlements, net (1) Net unrealized gains (losses) included in income related to assets and liabilities held at period end (in millions) Balance, beginning of period Net income Other compre- hensive income Transfers into Level 3 Transfers out of Level 3 Balance, end of period (2) Quarter ended September 30, 2015 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 8 — — 1 — — 9 — Collateralized loan and other debt obligations 407 (3 ) — (14 ) — — 390 — Corporate debt securities 33 (1 ) — 6 10 (2 ) 46 (2 ) Mortgage-backed securities — — — — — — — — Asset-backed securities — — — — — — — — Equity securities 1 — — — — — 1 — Total trading securities 449 (4 ) — (7 ) 10 (2 ) 446 (2 ) Other trading assets 62 (1 ) — (27 ) — — 34 (25 ) Total trading assets (excluding derivatives) 511 (5 ) — (34 ) 10 (2 ) 480 (27 ) (3) Available-for-sale securities: Securities of U.S. states and political subdivisions 1,889 1 1 26 — — 1,917 — Mortgage-backed securities: Residential — — — — — — — — Commercial 103 5 (7 ) (17 ) — — 84 (2 ) Total mortgage-backed securities 103 5 (7 ) (17 ) — — 84 (2 ) Corporate debt securities 334 4 (9 ) 52 — — 381 (4 ) Collateralized loan and other debt obligations 924 71 (76 ) (194 ) — — 725 — Asset-backed securities: Auto loans and leases 260 — (12 ) — — — 248 — Other asset-backed securities 1,320 — (6 ) (74 ) — — 1,240 — Total asset-backed securities 1,580 — (18 ) (74 ) — — 1,488 — Total debt securities 4,830 81 (109 ) (207 ) — — 4,595 (6 ) (4) Marketable equity securities: Perpetual preferred securities — — — — — — — — Other marketable equity securities — — — — — — — — Total marketable equity securities — — — — — — — — (5) Total available-for-sale securities 4,830 81 (109 ) (207 ) — — 4,595 (6 ) Mortgages held for sale 1,623 16 — (226 ) 60 (11 ) 1,462 16 (6) Loans 5,651 (4 ) — (118 ) — — 5,529 (2 ) (6) Mortgage servicing rights (residential) (7) 12,661 (1,337 ) — 454 — — 11,778 (833 ) (6) Net derivative assets and liabilities: Interest rate contracts 252 562 — (371 ) — — 443 219 Commodity contracts 3 1 — — — — 4 2 Equity contracts (185 ) 15 — 63 — 3 (104 ) 109 Foreign exchange contracts — — — — — — — — Credit contracts (117 ) (5 ) — 81 — — (41 ) 7 Other derivative contracts (38 ) (32 ) — — — — (70 ) (32 ) Total derivative contracts (85 ) 541 — (227 ) — 3 232 305 (8) Other assets 2,711 105 — (8 ) — — 2,808 (5 ) (3) Short sale liabilities (1 ) — — 1 — — — — (3) Other liabilities (excluding derivatives) (30 ) — — 10 — — (20 ) — (6) (1) See next page for detail. (2) Represents only net gains (losses) that are due to changes in economic conditions and management’s estimates of fair value and excludes changes due to the collection/realization of cash flows over time. (3) Included in net gains (losses) from trading activities and other noninterest income in the income statement. (4) Included in net gains (losses) from debt securities in the income statement. (5) Included in net gains (losses) from equity investments in the income statement. (6) Included in mortgage banking and other noninterest income in the income statement. (7) For more information on the changes in mortgage servicing rights, see Note 8 (Mortgage Banking Activities). (8) Included in mortgage banking, trading activities, equity investments and other noninterest income in the income statement. (continued on following page) (continued from previous page) The following table presents gross purchases, sales, issuances and settlements related to the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarter ended September 30, 2015 . (in millions) Purchases Sales Issuances Settlements Net Quarter ended September 30, 2015 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 1 — — — 1 Collateralized loan and other debt obligations 152 (166 ) — — (14 ) Corporate debt securities 9 (3 ) — — 6 Mortgage-backed securities — — — — — Asset-backed securities — — — — — Equity securities — — — — — Total trading securities 162 (169 ) — — (7 ) Other trading assets — (26 ) — (1 ) (27 ) Total trading assets (excluding derivatives) 162 (195 ) — (1 ) (34 ) Available-for-sale securities: Securities of U.S. states and political subdivisions — — 261 (235 ) 26 Mortgage-backed securities: Residential — — — — — Commercial — — — (17 ) (17 ) Total mortgage-backed securities — — — (17 ) (17 ) Corporate debt securities 57 (3 ) — (2 ) 52 Collateralized loan and other debt obligations 15 (86 ) — (123 ) (194 ) Asset-backed securities: Auto loans and leases — — — — — Other asset-backed securities 30 — 30 (134 ) (74 ) Total asset-backed securities 30 — 30 (134 ) (74 ) Total debt securities 102 (89 ) 291 (511 ) (207 ) Marketable equity securities: Perpetual preferred securities — — — — — Other marketable equity securities — — — — — Total marketable equity securities — — — — — Total available-for-sale securities 102 (89 ) 291 (511 ) (207 ) Mortgages held for sale 44 (436 ) 246 (80 ) (226 ) Loans 3 — 93 (214 ) (118 ) Mortgage servicing rights (residential) — 6 448 — 454 Net derivative assets and liabilities: Interest rate contracts — — — (371 ) (371 ) Commodity contracts — — — — — Equity contracts — (32 ) — 95 63 Foreign exchange contracts — — — — — Credit contracts 4 — — 77 81 Other derivative contracts — — — — — Total derivative contracts 4 (32 ) — (199 ) (227 ) Other assets 1 — — (9 ) (8 ) Short sale liabilities 1 — — — 1 Other liabilities (excluding derivatives) — — — 10 10 The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarter ended September 30, 2014 , are summarized as follows: Balance, beginning of period Total net gains (losses) included in Purchases, sales, issuances and settlements, net (1) Net unrealized gains (losses) included in income related to assets and liabilities held at period end (in millions) Net income Other compre- hensive income Transfers into Level 3 Transfers out of Level 3 Balance, end of period (2) Quarter ended September 30, 2014 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 8 — — (1 ) — — 7 — Collateralized loan and other debt obligations 581 22 — (109 ) — (11 ) 483 (7 ) Corporate debt securities 62 (6 ) — (15 ) 1 (3 ) 39 (1 ) Mortgage-backed securities 1 — — 2 — — 3 — Asset-backed securities 91 (2 ) — (7 ) — — 82 (2 ) Equity securities 13 — — (3 ) — — 10 — Total trading securities 756 14 — (133 ) 1 (14 ) 624 (10 ) Other trading assets 49 (2 ) — — — (1 ) 46 — Total trading assets (excluding derivatives) 805 12 — (133 ) 1 (15 ) 670 (10 ) (3) Available-for-sale securities: Securities of U.S. states and political subdivisions 3,169 2 (75 ) (226 ) — (218 ) 2,652 — Mortgage-backed securities: Residential 41 — (1 ) (9 ) — — 31 — Commercial 136 12 (9 ) (28 ) — — 111 — Total mortgage-backed securities 177 12 (10 ) (37 ) — — 142 — Corporate debt securities 284 12 (10 ) (29 ) — — 257 — Collateralized loan and other debt obligations 1,326 14 7 (158 ) — — 1,189 — Asset-backed securities: Auto loans and leases 272 — (19 ) — — — 253 — Other asset-backed securities 1,295 2 12 128 — — 1,437 — Total asset-backed securities 1,567 2 (7 ) 128 — — 1,690 — Total debt securities 6,523 42 (95 ) (322 ) — (218 ) 5,930 — (4) Marketable equity securities: Perpetual preferred securities 700 4 (17 ) (19 ) — — 668 — Other marketable equity securities — — — — — — — — Total marketable equity securities 700 4 (17 ) (19 ) — — 668 — (5) Total available-for-sale securities 7,223 46 (112 ) (341 ) — (218 ) 6,598 — Mortgages held for sale 2,396 (30 ) — (95 ) 36 (24 ) 2,283 (31 ) (6) Loans 5,926 (44 ) — (33 ) — — 5,849 (38 ) (6) Mortgage servicing rights (residential) (7) 13,900 (209 ) — 340 — — 14,031 253 (6) Net derivative assets and liabilities: Interest rate contracts 183 165 — (234 ) — — 114 55 Commodity contracts 2 (1 ) — (1 ) — — — — Equity contracts (50 ) 99 — (122 ) (83 ) 16 (140 ) 46 Foreign exchange contracts 2 — — (2 ) — — — — Credit contracts (266 ) 8 — 47 — — (211 ) 10 Other derivative contracts (13 ) (12 ) — — — — (25 ) — Total derivative contracts (142 ) 259 — (312 ) (83 ) 16 (262 ) 111 (8) Other assets 2,005 62 — (6 ) — — 2,061 3 (3) Short sale liabilities — — — (5 ) — — (5 ) — (3) Other liabilities (excluding derivatives) (45 ) (3 ) — 19 — — (29 ) — (6) (1) See next page for detail. (2) Represents only net gains (losses) that are due to changes in economic conditions and management’s estimates of fair value and excludes changes due to the collection/realization of cash flows over time. (3) Included in net gains (losses) from trading activities and other noninterest income in the income statement. (4) Included in net gains (losses) from debt securities in the income statement. (5) Included in net gains (losses) from equity investments in the income statement. (6) Included in mortgage banking and other noninterest income in the income statement. (7) For more information on the changes in mortgage servicing rights, see Note 8 (Mortgage Banking Activities). (8) Included in mortgage banking, trading activities, equity investments and other noninterest income in the income statement. (continued on following page) (continued from previous page) The following table presents gross purchases, sales, issuances and settlements related to the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarter ended September 30, 2014 . (in millions) Purchases Sales Issuances Settlements Net Quarter ended September 30, 2014 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 4 (5 ) — — (1 ) Collateralized loan and other debt obligations 267 (376 ) — — (109 ) Corporate debt securities 36 (45 ) — (6 ) (15 ) Mortgage-backed securities 3 (1 ) — — 2 Asset-backed securities 4 (1 ) — (10 ) (7 ) Equity securities — — — (3 ) (3 ) Total trading securities 314 (428 ) — (19 ) (133 ) Other trading assets — — — — — Total trading assets (excluding derivatives) 314 (428 ) — (19 ) (133 ) Available-for-sale securities: Securities of U.S. states and political subdivisions — — 16 (242 ) (226 ) Mortgage-backed securities: Residential — (9 ) — — (9 ) Commercial — (23 ) — (5 ) (28 ) Total mortgage-backed securities — (32 ) — (5 ) (37 ) Corporate debt securities 3 (23 ) — (9 ) (29 ) Collateralized loan and other debt obligations 1 — — (159 ) (158 ) Asset-backed securities: Auto loans and leases — — — — — Other asset-backed securities — (2 ) 230 (100 ) 128 Total asset-backed securities — (2 ) 230 (100 ) 128 Total debt securities 4 (57 ) 246 (515 ) (322 ) Marketable equity securities: Perpetual preferred securities — — — (19 ) (19 ) Other marketable equity securities — — — — — Total marketable equity securities — — — (19 ) (19 ) Total available-for-sale securities 4 (57 ) 246 (534 ) (341 ) Mortgages held for sale 60 — — (155 ) (95 ) Loans 56 — 103 (192 ) (33 ) Mortgage servicing rights (residential) — — 340 — 340 Net derivative assets and liabilities: Interest rate contracts — — — (234 ) (234 ) Commodity contracts — — — (1 ) (1 ) Equity contracts — (1 ) — (121 ) (122 ) Foreign exchange contracts — — — (2 ) (2 ) Credit contracts — 34 — 13 47 Other derivative contracts — — — — — Total derivative contracts — 33 — (345 ) (312 ) Other assets — — — (6 ) (6 ) Short sale liabilities 4 (9 ) — — (5 ) Other liabilities (excluding derivatives) — — — 19 19 The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the first nine months of 2015 are summarized as follows: Total net gains (losses) included in Purchases, sales, issuances and settlements, net (1) Net unrealized gains (losses) included in income related to assets and liabilities held at period end (in millions) Balance, beginning of period Net income Other compre- hensive income Transfers into Level 3 Transfers out of Level 3 Balance, end of period (2) Nine months ended September 30, 2015 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 7 — — 2 — — 9 — Collateralized loan and other debt obligations 445 39 — (94 ) — — 390 5 Corporate debt securities 54 1 — (8 ) 10 (11 ) 46 (2 ) Mortgage-backed securities — — — — — — — — Asset-backed securities 79 16 — (14 ) — (81 ) — — Equity securities 10 1 — (10 ) — — 1 — Total trading securities 595 57 — (124 ) 10 (92 ) 446 3 Other trading assets 55 4 — (25 ) 1 (1 ) 34 (15 ) Total trading assets (excluding derivatives) 650 61 — (149 ) 11 (93 ) 480 (12 ) (3) Available-for-sale securities: Securities of U.S. states and political subdivisions 2,277 4 (14 ) (274 ) — (76 ) 1,917 (5 ) Mortgage-backed securities: Residential 24 4 (6 ) (22 ) — — — — Commercial 109 6 (9 ) (22 ) — — 84 (2 ) Total mortgage-backed securities 133 10 (15 ) (44 ) — — 84 (2 ) Corporate debt securities 252 7 (12 ) 134 — — 381 (2 ) Collateralized loan and other debt obligations 1,087 132 (87 ) (407 ) — — 725 — Asset-backed securities: Auto loans and leases 245 — 3 — — — 248 — Other asset-backed securities 1,372 2 (15 ) (119 ) — — 1,240 — Total asset-backed securities 1,617 2 (12 ) (119 ) — — 1,488 — Total debt securities 5,366 155 (140 ) (710 ) — (76 ) 4,595 (9 ) (4) Marketable equity securities: Perpetual preferred securities 663 3 (2 ) (24 ) — (640 ) — — Other marketable equity securities — — — — — — — — Total marketable equity securities 663 3 (2 ) (24 ) — (640 ) — — (5) Total available-for-sale securities 6,029 158 (142 ) (734 ) — (716 ) 4,595 (9 ) Mortgages held for sale 2,313 53 — (595 ) 155 (464 ) 1,462 14 (6) Loans 5,788 (51 ) — (208 ) — — 5,529 (37 ) (6) Mortgage servicing rights (residential) (7) 12,738 (2,144 ) — 1,184 — — 11,778 (553 ) (6) Net derivative assets and liabilities: Interest rate contracts 293 987 — (837 ) — — 443 240 Commodity contracts 1 3 — 2 (2 ) — 4 4 Equity contracts (84 ) 65 — (26 ) (10 ) (49 ) (104 ) 96 Foreign exchange contracts — — — — — — — — Credit contracts (189 ) (4 ) — 152 — — (41 ) 2 Other derivative contracts (44 ) (26 ) — — — — (70 ) (26 ) Total derivative contracts (23 ) 1,025 — (709 ) (12 ) (49 ) 232 316 (8) Other assets 2,593 136 — 79 — — 2,808 (4 ) (3) Short sale liabilities (6 ) — — 6 — — — — (3) Other liabilities (excluding derivatives) (28 ) (2 ) — 10 — — (20 ) — (6) (1) See next page for detail. (2) Represents only net gains (losses) that are due to changes in economic conditions and management’s estimates of fair value and excludes changes due to the collection/realization of cash flows over time. (3) Included in net gains (losses) from trading activities and other noninterest income in the income statement. (4) Included in net gains (losses) from debt securities in the income statement. (5) Included in net gains (losses) from equity investments in the income statement. (6) Included in mortgage banking and other noninterest income in the income statement. (7) For more information on the changes in mortgage servicing rights, see Note 8 (Mortgage Banking Activities). (8) Included in mortgage banking, trading activities, equity investments and other noninterest income in the income statement. (continued on following page) (continued from previous page) The following table presents gross purchases, sales, issuances and settlements related to the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the first nine months of 2015 . (in millions) Purchases Sales Issuances Settlements Net Nine months ended September 30, 2015 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 4 (2 ) — — 2 Collateralized loan and other debt obligations 1,060 (1,154 ) — — (94 ) Corporate debt securities 36 (44 ) — — (8 ) Mortgage-backed securities — — — — — Asset-backed securities — (5 ) — (9 ) (14 ) Equity securities — — — (10 ) (10 ) Total trading securities 1,100 (1,205 ) — (19 ) (124 ) Other trading assets 3 (27 ) — (1 ) (25 ) Total trading assets (excluding derivatives) 1,103 (1,232 ) — (20 ) (149 ) Available-for-sale securities: Securities of U.S. states and political subdivisions — (41 ) 555 (788 ) (274 ) Mortgage-backed securities: Residential — (22 ) — — (22 ) Commercial — (5 ) — (17 ) (22 ) Total mortgage-backed securities — (27 ) — (17 ) (44 ) Corporate debt securities 153 (11 ) — (8 ) 134 Collateralized loan and other debt obligations 74 (188 ) — (293 ) (407 ) Asset-backed securities: Auto loans and leases — — — — — Other asset-backed securities 30 (1 ) 268 (416 ) (119 ) Total asset-backed securities 30 (1 ) 268 (416 ) (119 ) Total debt securities 257 (268 ) 823 (1,522 ) (710 ) Marketable equity securities: Perpetual preferred securities — — — (24 ) (24 ) Other marketable equity securities — — — — — Total marketable equity securities — — — (24 ) (24 ) Total available-for-sale securities 257 (268 ) 823 (1,546 ) (734 ) Mortgages held for sale 164 (1,059 ) 592 (292 ) (595 ) Loans 70 — 287 (565 ) (208 ) Mortgage servicing rights (residential) — 5 1,184 (5 ) 1,184 Net derivative assets and liabilities: Interest rate contracts — — — (837 ) (837 ) Commodity contracts — — — 2 2 Equity contracts 15 (103 ) — 62 (26 ) Foreign exchange contracts — — — — — Credit contracts 10 (2 ) — 144 152 Other derivative contracts — — — — — Total derivative contracts 25 (105 ) — (629 ) (709 ) Other assets 97 (1 ) — (17 ) 79 Short sale liabilities 21 (15 ) — — 6 Other liabilities (excluding derivatives) — — — 10 10 The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the first nine months of 2014 are summarized as follows: Balance, beginning of period Total net gains (losses) included in Purchases, sales, issuances and settlements, net (1) Net unrealized gains (losses) included in income related to assets and liabilities held at period end (in millions) Net income Other compre- hensive income Transfers into Level 3 Transfers out of Level 3 Balance, end of period (2) Nine months ended September 30, 2014 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 39 — — (1 ) — (31 ) 7 — Collateralized loan and other debt obligations 541 36 — (83 ) 4 (15 ) 483 (38 ) Corporate debt securities 53 (9 ) — (26 ) 25 (4 ) 39 (1 ) Mortgage-backed securities 1 — — 2 — — 3 — Asset-backed securities 122 24 — (60 ) — (4 ) 82 24 Equity securities 13 — — (3 ) — — 10 (1 ) Total trading securities 769 51 — (171 ) 29 (54 ) 624 (16 ) Other trading assets 54 (7 ) — — — (1 ) 46 1 Total trading assets (excluding derivatives) 823 44 — (171 ) 29 (55 ) 670 (15 ) (3) Available-for-sale securities: Securities of U.S. states and political subdivisions 3,214 11 (66 ) (251 ) 59 (315 ) 2,652 (2 ) Mortgage-backed securities: Residential 64 10 (3 ) (40 ) — — 31 — Commercial 138 11 (1 ) (37 ) — — 111 (2 ) Total mortgage-backed securities 202 21 (4 ) (77 ) — — 142 (2 ) Corporate debt securities 281 25 (15 ) (34 ) — — 257 — Collateralized loan and other debt obligations 1,420 84 (14 ) (301 ) — — 1,189 (2 ) Asset-backed securities: Auto loans and leases 492 — (24 ) (215 ) — — 253 — Other asset-backed securities 1,657 3 9 (321 ) 89 — 1,437 — Total asset-backed securities 2,149 3 (15 ) (536 ) 89 — 1,690 — Total debt securities 7,266 144 (114 ) (1,199 ) 148 (315 ) 5,930 (6 ) (4) Marketable equity securities: Perpetual preferred securities 729 8 (27 ) (42 ) — — 668 — Other marketable equity securities — 4 — (4 ) — — — — Total marketable equity securities 729 12 (27 ) (46 ) — — 668 — (5) Total available-for-sale securities 7,995 156 (141 ) (1,245 ) 148 (315 ) 6,598 (6 ) Mortgages held for sale 2,374 (7 ) — (170 ) 232 (146 ) 2,283 (9 ) (6) Loans 5,723 (39 ) — (56 ) 270 (49 ) 5,849 (26 ) (6) Mortgage servicing rights (residential) (7) 15,580 (2,449 ) — 900 — — 14,031 (1,023 ) (6) Net derivative assets and liabilities: Interest rate contracts (40 ) 1,078 — (924 ) — — 114 166 Commodity contracts (10 ) (22 ) — (2 ) (3 ) 37 — (1 ) Equity contracts (46 ) 118 — (198 ) (80 ) 66 (140 ) (1 ) Foreign exchange contracts 9 5 — (14 ) — — — — Credit contracts (375 ) 21 — 143 — — (211 ) 30 Other derivative contracts (3 ) (22 ) — — — — (25 ) — Total derivative contracts (465 ) 1,178 — (995 ) (83 ) 103 (262 ) 194 (8) Other assets 1,503 (31 ) — 589 — — 2,061 (3 ) (3) Short sale liabilities — (1 ) — (4 ) — — (5 ) — (3) Other liabilities (excluding derivatives) (39 ) (10 ) — 20 — — (29 ) (1 ) (6) (1) See next page for detail. (2) Represents only net gains (losses) that are due to changes in economic conditions and management’s estimates of fair value and excludes changes due to the collection/realization of cash flows over time. (3) Included in net gains (losses) from trading activities and other noninterest income in the income statement. (4) Included in net gains (losses) from debt securities in the income statement. (5) Included in net gains (losses) from equity investments in the income statement. (6) Included in mortgage banking and other noninterest income in the income statement. (7) For more information on the changes in mortgage servicing rights, see Note 8 (Mortgage Banking Activities). (8) Included in mortgage banking, trading activities, equity investments and other noninterest income in the income statement. (continued on following page) (continued from previous page) The following table presents gross purchases, sales, issuances and settlements related to the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the first nine months of 2014 . (in millions) Purchases Sales Issuances Settlements Net Nine months ended September 30, 2014 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 10 (10 ) — (1 ) (1 ) Collateralized loan and other debt obligations 718 (797 ) — (4 ) (83 ) Corporate debt securities 59 (85 ) — — (26 ) Mortgage-backed securities 3 (1 ) — — 2 Asset-backed securities 15 (45 ) — (30 ) (60 ) Equity securities — — — (3 ) (3 ) Total trading securities 805 (938 ) — (38 ) (171 ) Other trading assets 1 (1 ) — — — Total trading assets (excluding derivatives) 806 (939 ) — (38 ) (171 ) Available-for-sale securities: Securities of U.S. states and political subdivisions 73 (55 ) 284 (553 ) (251 ) Mortgage-backed securities: Residential — (38 ) — (2 ) (40 ) Commercial — (31 ) — (6 ) (37 ) Total mortgage-backed securities — (69 ) — (8 ) (77 ) Corporate debt securities 10 (32 ) 10 (22 ) (34 ) Collateralized loan and other debt obligations 134 (32 ) — (403 ) (301 ) Asset-backed securities: Auto loans and leases — — — (215 ) (215 ) Other asset-backed securities 87 (14 ) 344 (738 ) (321 ) Total asset-backed securities 87 (14 ) 344 (953 ) (536 ) Total debt securities 304 (202 ) 638 (1,939 ) (1,199 ) Marketable equity securities: Perpetual preferred securities — — — (42 ) (42 ) Other marketable equity securities — (4 ) — — (4 ) Total marketable equity securities — (4 ) — (42 ) (46 ) Total available-for-sale securities 304 (206 ) 638 (1,981 ) (1,245 ) Mortgages held for sale 166 (21 ) — (315 ) (170 ) Loans 58 — 309 (423 ) (56 ) Mortgage servicing rights (residential) — — 900 — 900 Net derivative assets and liabilities: Interest rate contracts — — — (924 ) (924 ) Commodity contracts — — — (2 ) (2 ) Equity contracts — (116 ) — (82 ) (198 ) Foreign exchange contracts — — — (14 ) (14 ) Credit contracts 2 106 — 35 143 Other derivative contracts — — — — — Total derivative contracts 2 (10 ) — (987 ) (995 ) Other assets 609 (1 ) — (19 ) 589 Short sale liabilities 10 (14 ) — — (4 ) Other liabilities (excluding derivatives) — — — 20 20 |
Fair Value, Assets and Liabilities Measured on Recurring Basis, Quantative Information about Valuation Techniques and Unobservable Inputs | The following table provides quantitative information about the valuation techniques and significant unobservable inputs used in the valuation of substantially all of our Level 3 assets and liabilities measured at fair value on a recurring basis for which we use an internal model. The significant unobservable inputs for Level 3 assets and liabilities that are valued using fair values obtained from third party vendors are not included in the table, as the specific inputs applied are not provided by the vendor. In addition, the table excludes the valuation techniques and significant unobservable inputs for certain classes of Level 3 assets and liabilities measured using an internal model that we consider, both individually and in the aggregate, insignificant relative to our overall Level 3 assets and liabilities. We made this determination based upon an evaluation of each class, which considered the magnitude of the positions, nature of the unobservable inputs and potential for significant changes in fair value due to changes in those inputs. For information on how changes in significant unobservable inputs affect the fair values of Level 3 assets and liabilities, see Note 17 (Fair Values of Assets and Liabilities) to Financial Statements in our 2014 Form 10-K. ($ in millions, except cost to service amounts) Fair Value Level 3 Valuation Technique(s) Significant Unobservable Input Range of Inputs Weighted Average (1) September 30, 2015 Trading and available-for-sale securities: Securities of U.S. states and political subdivisions: Government, healthcare and other revenue bonds $ 1,625 Discounted cash flow Discount rate 0.5 - 5.8 % 1.5 54 Vendor priced Auction rate securities and other municipal bonds 247 Discounted cash flow Discount rate 1.5 - 5.9 3.7 Weighted average life 1.8 - 18.8 yrs 8.7 Collateralized loan and other debt obligations (2) 400 Market comparable pricing Comparability adjustment (18.2 ) - 35.0 % 2.9 715 Vendor priced Asset-backed securities: Auto loans and leases 248 Discounted cash flow Discount rate (0.3 ) - (0.3 ) (0.3 ) Other asset-backed securities: Diversified payment rights (3) 556 Discounted cash flow Discount rate 0.9 - 5.3 3.0 Other commercial and consumer 616 (4) Discounted cash flow Discount rate 2.4 - 5.9 3.4 Weighted average life 1.2 - 8.8 yrs 3.9 68 Vendor priced Mortgages held for sale (residential) 1,410 Discounted cash flow Default rate 0.3 - 12.1 % 2.9 Discount rate 1.1 - 6.3 4.6 Loss severity 0.0 - 22.6 11.9 Prepayment rate 2.6 - 18.4 8.9 52 Market comparable pricing Comparability adjustment (53.3 ) - 0.0 (31.5 ) Loans 5,529 (5) Discounted cash flow Discount rate 0.0 - 3.5 2.9 Prepayment rate 0.2 - 100.0 13.9 Utilization rate 0.0 - 0.8 0.3 Mortgage servicing rights (residential) 11,778 Discounted cash flow Cost to service per loan (6) $ 68 - 624 165 Discount rate 6.2 - 11.6 % 7.0 Prepayment rate (7) 8.6 - 24.7 12.4 Net derivative assets and (liabilities): Interest rate contracts 283 Discounted cash flow Default rate 0.07 - 9.60 2.72 Loss severity 50.0 - 50.0 50.0 Prepayment rate 0.3 - 2.5 2.2 Interest rate contracts: derivative loan commitments 160 (8) Discounted cash flow Fall-out factor 1.0 - 99.0 24.8 Initial-value servicing (22.4 ) - 159.0 bps 64.4 Equity contracts 66 Discounted cash flow Conversion factor (11.0 ) - 0.0 % (8.2 ) Weighted average life 0.8 - 2.3 yrs 1.6 (170 ) Option model Correlation factor (65.0 ) - 98.5 % 33.9 Volatility factor 8.3 - 87.3 29.5 Credit contracts (48 ) Market comparable pricing Comparability adjustment (30.4 ) - 35.1 2.2 7 Option model Credit spread 0.1 - 16.7 1.4 Loss severity 11.5 - 72.5 49.3 Other assets: nonmarketable equity investments 2,745 Market comparable pricing Comparability adjustment (20.3 ) - (3.3 ) (15.4 ) Insignificant Level 3 assets, net of liabilities 523 (9) Total level 3 assets, net of liabilities $ 26,864 (10) (1) Weighted averages are calculated using outstanding unpaid principal balance for cash instruments, such as loans and securities, and notional amounts for derivative instruments. (2) Includes $316 million of collateralized debt obligations. (3) Securities backed by specified sources of current and future receivables generated from foreign originators. (4) Consists primarily of investments in asset-backed securities that are revolving in nature, in which the timing of advances and repayments of principal are uncertain. (5) Consists predominantly of reverse mortgage loans securitized with GNMA that were accounted for as secured borrowing transactions. (6) The high end of the range of inputs is for servicing modified loans. For non-modified loans the range is $68 - $350 . (7) Includes a blend of prepayment speeds and expected defaults. Prepayment speeds are influenced by mortgage interest rates as well as our estimation of drivers of borrower behavior. (8) Total derivative loan commitments were a net asset of $160 million . (9) 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 corporate debt securities, mortgage-backed securities, certain other assets, other liabilities and certain net derivative assets and liabilities, such as commodity contracts and other derivative contracts. (10) Consists of total Level 3 assets of $28.4 billion and total Level 3 liabilities of $1.5 billion , before netting of derivative balances. ($ in millions, except cost to service amounts) Fair Value Level 3 Valuation Technique(s) Significant Unobservable Input Range of Inputs Weighted December 31, 2014 Trading and available-for-sale securities: Securities of U.S. states and political subdivisions: Government, healthcare and other revenue bonds $ 1,900 Discounted cash flow Discount rate 0.4 - 5.6 % 1.5 61 Vendor priced Auction rate securities and other municipal bonds 323 Discounted cash flow Discount rate 1.5 - 7.6 3.9 Weighted average life 1.3 - 19.4 yrs 6.4 Collateralized loan and other debt obligations (2) 565 Market comparable pricing Comparability adjustment (53.9 ) - 25.0 % 0.9 967 Vendor priced Asset-backed securities: Auto loans and leases 245 Discounted cash flow Discount rate 0.4 - 0.4 0.4 Other asset-backed securities: Diversified payment rights (3) 661 Discounted cash flow Discount rate 0.9 - 7.1 2.9 Other commercial and consumer 750 (4) Discounted cash flow Discount rate 1.9 - 21.5 5.0 Weighted average life 1.6 - 10.7 yrs 4.0 40 Vendor priced Marketable equity securities: perpetual preferred 663 (5) Discounted cash flow Discount rate 4.1 - 9.3 % 6.6 Weighted average life 1.0 - 11.8 yrs 9.7 Mortgages held for sale (residential) 2,235 Discounted cash flow Default rate 0.4 - 15.0 % 2.6 Discount rate 1.1 - 7.7 5.2 Loss severity 0.1 - 26.4 18.3 Prepayment rate 2.0 - 15.5 8.1 78 Market comparable pricing Comparability adjustment (93.0 ) - 10.0 (30.0 ) Loans 5,788 (6) Discounted cash flow Discount rate 0.0 - 3.8 3.1 Prepayment rate 0.6 - 100.0 11.2 Utilization rate 0.0 - 1.0 0.4 Mortgage servicing rights (residential) 12,738 Discounted cash flow Cost to service per loan (7) $ 86 - 683 179 Discount rate 5.9 - 16.9 % 7.6 Prepayment rate (8) 8.0 - 22.0 12.5 Net derivative assets and (liabilities): Interest rate contracts 196 Discounted cash flow Default rate 0.00 - 0.02 0.01 Loss severity 50.0 - 50.0 50.0 Interest rate contracts: derivative loan commitments 97 Discounted cash flow Fall-out factor 1.0 - 99.0 24.5 Initial-value servicing (31.1 ) - 113.3 bps 46.5 Equity contracts 162 Discounted cash flow Conversion factor (11.2 ) - 0.0 % (8.4 ) Weighted average life 1.0 - 2.0 yrs 1.3 (246 ) Option model Correlation factor (56.0 ) - 96.3 % 42.1 Volatility factor 8.3 - 80.9 28.3 Credit contracts (192 ) Market comparable pricing Comparability adjustment (28.6 ) - 26.3 1.8 3 Option model Credit spread 0.0 - 17.0 0.9 Loss severity 11.5 - 72.5 48.7 Other assets: nonmarketable equity investments 2,512 Market comparable pricing Comparability adjustment (19.7 ) - (4.0 ) (14.7 ) Insignificant Level 3 assets, net of liabilities 507 (9) Total level 3 assets, net of liabilities $ 30,054 (10) (1) Weighted averages are calculated using outstanding unpaid principal balance for cash instruments, such as loans and securities, and notional amounts for derivative instruments. (2) Includes $500 million of collateralized debt obligations. (3) Securities backed by specified sources of current and future receivables generated from foreign originators. (4) Consists primarily of investments in asset-backed securities that are revolving in nature, in which the timing of advances and repayments of principal are uncertain. (5) Consists of auction rate preferred equity securities with no maturity date that are callable by the issuer. (6) Consists predominantly of reverse mortgage loans securitized with GNMA that were accounted for as secured borrowing transactions. (7) The high end of the range of inputs is for servicing modified loans. For non-modified loans the range is $86 - $270 . (8) Includes a blend of prepayment speeds and expected defaults. Prepayment speeds are influenced by mortgage interest rates as well as our estimation of drivers of borrower behavior. (9) 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 corporate debt securities, mortgage-backed securities, certain other assets, other liabilities and certain net derivative assets and liabilities, such as commodity contracts and other derivative contracts. (10) Consists of total Level 3 assets of $32.3 billion and total Level 3 liabilities of $2.3 billion , before netting of derivative balances. |
Fair Value, Assets Recorded at Fair Value on a Nonrecurring Basis | The following table provides the fair value hierarchy and carrying amount of all assets that were still held as of September 30, 2015 , and December 31, 2014 , and for which a nonrecurring fair value adjustment was recorded during the periods presented. September 30, 2015 December 31, 2014 (in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Mortgages held for sale (LOCOM) (1) $ — 1,559 946 2,505 — 2,197 1,098 3,295 Loans held for sale — 13 — 13 — — — — Loans: Commercial — 120 — 120 — 243 — 243 Consumer — 1,163 11 1,174 — 2,018 5 2,023 Total loans (2) — 1,283 11 1,294 — 2,261 5 2,266 Other assets (3) — 282 541 823 — 417 460 877 (1) Predominantly real estate 1-4 family first mortgage loans. (2) Represents carrying value of loans for which adjustments are based on the appraised value of the collateral. (3) Includes the fair value of foreclosed real estate, other collateral owned and nonmarketable equity investments. |
Changes in Fair Value of Assets Recorded at Fair Value on Nonrecurring Basis | The following table presents the increase (decrease) in value of certain assets for which a nonrecurring fair value adjustment has been recognized during the periods presented. Nine months ended (in millions) 2015 2014 Mortgages held for sale (LOCOM) $ 17 40 Loans held for sale (3 ) — Loans: Commercial (113 ) (90 ) Consumer (816 ) (1,093 ) Total loans (1) (929 ) (1,183 ) Other assets (2) (223 ) (265 ) Total $ (1,138 ) (1,408 ) (1) Represents write-downs of loans based on the appraised value of the collateral. (2) Includes the losses on foreclosed real estate and other collateral owned that were measured at fair value subsequent to their initial classification as foreclosed assets. Also includes impairment losses on nonmarketable equity investments. |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Quantative Information about Valuation Techniques and Unobservable Inputs | The table below provides quantitative information about the valuation techniques and significant unobservable inputs used in the valuation of substantially all of our Level 3 assets and liabilities that are measured at fair value on a nonrecurring basis using an internal model. The table is limited to financial instruments that had nonrecurring fair value adjustments during the periods presented. We have excluded from the table classes of Level 3 assets and liabilities measured using an internal model that we consider, both individually and in the aggregate, insignificant relative to our overall Level 3 nonrecurring measurements. We made this determination based upon an evaluation of each class which considered the magnitude of the positions, nature of the unobservable inputs and potential for significant changes in fair value due to changes in those inputs. ($ in millions) Fair Value Level 3 Valuation Technique(s) (1) Significant Unobservable Inputs (1) Range of inputs Weighted Average (2) September 30, 2015 Residential mortgages held for sale (LOCOM) $ 946 (3) Discounted cash flow Default rate (5) 0.2 — 9.6 % 2.4 % Discount rate 1.5 — 8.5 3.6 Loss severity 0.0 — 29.4 3.1 Prepayment rate (6) 2.3 — 100.0 58.2 Other assets: Private equity fund investments (4) — Market comparable pricing Comparability adjustment — — — — Other nonmarketable equity investments 213 Market comparable pricing Comparability adjustment 4.8 — 8.0 7.1 Insignificant level 3 assets 339 Total $ 1,498 December 31, 2014 Residential mortgages held for sale (LOCOM) $ 1,098 (3) Discounted cash flow Default rate (5) 0.9 — 3.8 % 2.1 % Discount rate 1.5 — 8.5 3.6 Loss severity 0.0 — 29.8 3.8 Prepayment rate (6) 2.0 — 100.0 65.5 Other assets: Private equity fund investments (4) 171 Market comparable pricing Comparability adjustment 6.0 — 6.0 6.0 Insignificant level 3 assets 294 Total $ 1,563 (1) Refer to the narrative following the recurring quantitative Level 3 table of this Note for a definition of the valuation technique(s) and significant unobservable inputs. (2) For residential MHFS, weighted averages are calculated using outstanding unpaid principal balance of the loans. (3) Consists of approximately $899 million and $1.0 billion government insured/guaranteed loans purchased from GNMA-guaranteed mortgage securitizations at September 30, 2015 and December 31, 2014 , respectively, and $47 million and $78 million of other mortgage loans which are not government insured/guaranteed at September 30, 2015 and December 31, 2014 , respectively. (4) Represents a single investment. For additional information, see the “Alternative Investments” section in this Note. (5) Applies only to non-government insured/guaranteed loans. (6) Includes the impact on prepayment rate of expected defaults for the government insured/guaranteed loans, which affects the frequency and timing of early resolution of loans. |
Fair Value Investments in Entities that Calculate Net Asset Value Per Share | The following table summarizes our investments in various types of funds for which we use net asset values (NAVs) per share as a practical expedient to measure fair value on recurring and nonrecurring bases. The investments are included in trading assets, available-for-sale securities, and other assets. The table excludes those investments that are probable of being sold at an amount different from the funds’ NAVs. (in millions) Fair value Unfunded commitments Redemption frequency Redemption notice period September 30, 2015 Offshore funds $ 28 — Daily - Monthly 1 - 30 days Hedge funds 1 — Daily - Quarterly 1-90 days Private equity funds (1)(2) 921 192 N/A N/A Venture capital funds (2) 97 9 N/A N/A Total (3) $ 1,047 201 December 31, 2014 Offshore funds $ 125 — Daily - Quarterly 1 - 60 days Hedge funds 1 — Daily - Quarterly 1-90 days Private equity funds (1)(2) 1,313 243 N/A N/A Venture capital funds (2) 68 9 N/A N/A Total (3) $ 1,507 252 N/A - Not applicable (1) Excludes a private equity fund investment of $0 million and $171 million at September 30, 2015 , and December 31, 2014 , respectively. This investment was sold in second quarter 2015 for an amount different from the fund’s NAV. (2) Includes certain investments subject to the Volcker Rule that we may have to divest. (3) September 30, 2015 , and December 31, 2014 , include $922 million and $1.3 billion , respectively, of fair value for nonmarketable equity investments carried at cost for which we use NAVs as a practical expedient to determine nonrecurring fair value adjustments. The fair values of investments that had nonrecurring fair value adjustments were $133 million and $108 million at September 30, 2015 , and December 31, 2014 , respectively. |
Fair Value Option, Carrying Amount | The following table reflects differences between the fair value carrying amount of certain assets and liabilities for which we have elected the fair value option and the contractual aggregate unpaid principal amount at maturity. September 30, 2015 December 31, 2014 (in millions) Fair value carrying amount Aggregate unpaid principal Fair value carrying amount less aggregate unpaid principal Fair value carrying amount Aggregate unpaid principal Fair value carrying amount less aggregate unpaid principal Trading assets - loans: Total loans $ 805 850 (45 ) 1,387 1,410 (23 ) Nonaccrual loans — — — — 1 (1 ) Mortgages held for sale: Total loans 17,627 17,027 600 15,565 15,246 319 Nonaccrual loans 81 137 (56 ) 160 252 (92 ) Loans 90 days or more past due and still accruing 19 21 (2 ) 27 30 (3 ) Loans held for sale: Total loans — 5 (5 ) 1 10 (9 ) Nonaccrual loans — 5 (5 ) 1 10 (9 ) Loans: Total loans 5,529 5,319 210 5,788 5,527 261 Nonaccrual loans 406 422 (16 ) 367 376 (9 ) Other assets (1) 2,745 n/a n/a 2,512 n/a n/a (1) Consists of nonmarketable equity investments carried at fair value. See Note 6 (Other Assets) for more information. |
Fair Value Option, Gains and Losses | The changes in fair value related to initial measurement and subsequent changes in fair value included in earnings for these assets and liabilities measured at fair value are shown below by income statement line item. 2015 2014 (in millions) Mortgage banking noninterest income Net gains (losses) from trading activities Other noninterest income Mortgage banking noninterest income Net gains (losses) from trading activities Other noninterest income Quarter ended September 30, Trading assets - loans $ — (16 ) 1 — 8 1 Mortgages held for sale 662 — — 365 — — Loans — — (2 ) — — (44 ) Other assets — — 109 — — 62 Other interests held (1) — (3 ) — — (2 ) — Nine months ended September 30, Trading assets - loans $ — 3 3 — 25 4 Mortgages held for sale 1,559 — — 1,565 — — Loans — — (45 ) — — (43 ) Other assets — — 137 — — (30 ) Other interests held (1) — (5 ) — — (7 ) — (1) Consists of retained interests in securitizations and changes in fair value of letters of credit. |
Fair Value Option, Instrument Specific Credit Risk | The following table shows the estimated gains and losses from earnings attributable to instrument-specific credit risk related to assets accounted for under the fair value option. Quarter ended Sep 30, Nine months ended Sep 30, (in millions) 2015 2014 2015 2014 Gains (losses) attributable to instrument-specific credit risk: Trading assets - loans $ (16 ) 7 3 25 Mortgages held for sale (5 ) 7 43 62 Total $ (21 ) 14 46 87 |
Fair Value, Estimated for Financial Instruments Not Carried at Fair Value | The table below is a summary of fair value estimates for financial instruments, excluding financial instruments recorded at fair value on a recurring basis, which are included within the Assets and Liabilities Recorded at Fair Value on a Recurring Basis table included earlier in this Note. The carrying amounts in the following table are recorded on the balance sheet under the indicated captions, except for nonmarketable equity investments, which are included in Other Assets. We have not included assets and liabilities that are not financial instruments in our disclosure, such as the value of the long-term relationships with our deposit, credit card and trust customers, amortized MSRs, premises and equipment, goodwill and other intangibles, deferred taxes and other liabilities. The total of the fair value calculations presented does not represent, and should not be construed to represent, the underlying value of the Company. Estimated fair value (in millions) Carrying amount Level 1 Level 2 Level 3 Total September 30, 2015 Financial assets Cash and due from banks (1) $ 17,395 17,395 — — 17,395 Federal funds sold, securities purchased under resale agreements and other short-term investments (1) 254,811 17,668 236,966 177 254,811 Held-to-maturity securities 78,668 45,974 30,533 3,612 80,119 Mortgages held for sale (2) 4,213 — 3,269 946 4,215 Loans held for sale (2) 430 — 438 — 438 Loans, net (3) 874,085 — 60,970 826,736 887,706 Nonmarketable equity investments (cost method) 6,786 — — 7,916 7,916 Financial liabilities Deposits 1,202,179 — 1,171,938 30,421 1,202,359 Short-term borrowings (1) 88,069 — 88,069 — 88,069 Long-term debt (4) 185,266 — 174,284 10,418 184,702 December 31, 2014 Financial assets Cash and due from banks (1) $ 19,571 19,571 — — 19,571 Federal funds sold, securities purchased under resale agreements and other short-term investments (1) 258,429 8,991 249,438 — 258,429 Held-to-maturity securities 55,483 41,548 9,021 5,790 56,359 Mortgages held for sale (2) 3,971 — 2,875 1,098 3,973 Loans held for sale (2) 721 — 739 — 739 Loans, net (3) 832,671 — 60,052 784,786 844,838 Nonmarketable equity investments (cost method) 7,033 — — 8,377 8,377 Financial liabilities Deposits 1,168,310 — 1,132,845 35,566 1,168,411 Short-term borrowings (1) 63,518 — 63,518 — 63,518 Long-term debt (4) 183,934 — 174,996 10,479 185,475 (1) Amounts consist of financial instruments in which carrying value approximates fair value. (2) Balance reflects MHFS and LHFS, as applicable, other than those MHFS and LHFS for which we elected the fair value option. (3) Loans exclude balances for which the fair value option was elected and also exclude lease financing with a carrying amount of $12.1 billion and $12.3 billion at September 30, 2015 and December 31, 2014 , respectively. (4) The carrying amount and fair value exclude obligations under capital leases of $8 million at September 30, 2015 and $9 million at December 31, 2014 . |
Preferred Stock (Tables)
Preferred Stock (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Preferred Stock [Abstract] | |
Detail of Preferred Stock | Our total authorized, issued and outstanding preferred stock is presented in the following two tables along with the Employee Stock Ownership Plan (ESOP) Cumulative Convertible Preferred Stock. September 30, 2015 December 31, 2014 Liquidation preference per share Shares authorized and designated Liquidation preference per share Shares authorized and designated DEP Shares Dividend Equalization Preferred Shares (DEP) $ 10 97,000 $ 10 97,000 Series G 7.25% Class A Preferred Stock 15,000 50,000 15,000 50,000 Series H Floating Class A Preferred Stock 20,000 50,000 20,000 50,000 Series I Floating Class A Preferred Stock 100,000 25,010 100,000 25,010 Series J 8.00% Non-Cumulative Perpetual Class A Preferred Stock 1,000 2,300,000 1,000 2,300,000 Series K 7.98% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 1,000 3,500,000 1,000 3,500,000 Series L 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock 1,000 4,025,000 1,000 4,025,000 Series N 5.20% Non-Cumulative Perpetual Class A Preferred Stock 25,000 30,000 25,000 30,000 Series O 5.125% Non-Cumulative Perpetual Class A Preferred Stock 25,000 27,600 25,000 27,600 Series P 5.25% Non-Cumulative Perpetual Class A Preferred Stock 25,000 26,400 25,000 26,400 Series Q 5.85% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 25,000 69,000 25,000 69,000 Series R 6.625% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 25,000 34,500 25,000 34,500 Series S 5.900% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 25,000 80,000 25,000 80,000 Series T 6.000% Non-Cumulative Perpetual Class A Preferred Stock 25,000 32,200 25,000 32,200 Series U 5.875% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 25,000 80,000 — — Series V 6.000% Non-Cumulative Perpetual Class A Preferred Stock 25,000 40,000 — — ESOP Cumulative Convertible Preferred Stock (1) — 1,461,819 — 1,251,287 Total 11,928,529 11,597,997 (1) See the ESOP Cumulative Convertible Preferred Stock section of this Note for additional information about the liquidation preference for the ESOP Cumulative Convertible Preferred Stock. September 30, 2015 December 31, 2014 (in millions, except shares) Shares issued and outstanding Par value Carrying value Discount Shares issued and outstanding Par value Carrying value Discount DEP Shares Dividend Equalization Preferred Shares (DEP) 96,546 $ — — — 96,546 $ — — — Series I (1) Floating Class A Preferred Stock 25,010 2,501 2,501 — 25,010 2,501 2,501 — Series J (1) 8.00% Non-Cumulative Perpetual Class A Preferred Stock 2,150,375 2,150 1,995 155 2,150,375 2,150 1,995 155 Series K (1) 7.98% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 3,352,000 3,352 2,876 476 3,352,000 3,352 2,876 476 Series L (1) 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock 3,968,000 3,968 3,200 768 3,968,000 3,968 3,200 768 Series N (1) 5.20% Non-Cumulative Perpetual Class A Preferred Stock 30,000 750 750 — 30,000 750 750 — Series O (1) 5.125% Non-Cumulative Perpetual Class A Preferred Stock 26,000 650 650 — 26,000 650 650 — Series P (1) 5.25% Non-Cumulative Perpetual Class A Preferred Stock 25,000 625 625 — 25,000 625 625 — Series Q (1) 5.85% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 69,000 1,725 1,725 — 69,000 1,725 1,725 — Series R (1) 6.625% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 33,600 840 840 — 33,600 840 840 — Series S (1) 5.900% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 80,000 2,000 2,000 — 80,000 2,000 2,000 — Series T (1) 6.000% Non-Cumulative Perpetual Class A Preferred Stock 32,000 800 800 — 32,000 800 800 — Series U (1) 5.875% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 80,000 2,000 2,000 — — — — — Series V (1) 6.000% Non-Cumulative Perpetual Class A Preferred Stock 40,000 1,000 1,000 — — — — — ESOP Cumulative Convertible Preferred Stock 1,461,819 1,462 1,462 — 1,251,287 1,251 1,251 — Total 11,469,350 $ 23,823 22,424 1,399 11,138,818 $ 20,612 19,213 1,399 (1) Preferred shares qualify as Tier 1 capital. |
Detail of Employee Stock Ownership Plan Preferred Stock | Shares issued and outstanding Carrying value Adjustable dividend rate (in millions, except shares) Sep 30, Dec 31, Sep 30, Dec 31, Minimum Maximum ESOP Preferred Stock $1,000 liquidation preference per share 2015 394,841 — $ 395 — 8.90 % 9.90 2014 318,791 352,158 319 352 8.70 9.70 2013 251,304 288,000 251 288 8.50 9.50 2012 166,353 189,204 166 189 10.00 11.00 2011 177,614 205,263 178 205 9.00 10.00 2010 113,234 141,011 113 141 9.50 10.50 2008 28,972 42,204 29 42 10.50 11.50 2007 10,710 24,728 11 25 10.75 11.75 2006 — 8,719 — 9 10.75 11.75 Total ESOP Preferred Stock (1) 1,461,819 1,251,287 $ 1,462 1,251 Unearned ESOP shares (2) $ (1,590 ) (1,360 ) (1) At September 30, 2015 and December 31, 2014 , additional paid-in capital included $128 million and $109 million , respectively, related to ESOP preferred stock. (2) We recorded a corresponding charge to unearned ESOP shares in connection with the issuance of the ESOP Preferred Stock. The unearned ESOP shares are reduced as shares of the ESOP Preferred Stock are committed to be released. |
Employee Benefits (Tables)
Employee Benefits (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | |
Components of Net Periodic Benefit Cost | The net periodic benefit cost was: 2015 2014 Pension benefits Pension benefits (in millions) Qualified Non-qualified Other benefits Qualified Non-qualified Other benefits Quarter ended September 30, Service cost $ 1 — 1 1 — 1 Interest cost 107 5 11 116 6 12 Expected return on plan assets (161 ) — (8 ) (157 ) — (9 ) Amortization of net actuarial loss (gain) 27 5 (1 ) 22 4 (7 ) Amortization of prior service credit — — (1 ) — — (1 ) Settlement loss — — — — — — Net periodic benefit cost (income) $ (26 ) 10 2 (18 ) 10 (4 ) Nine months ended September 30, Service cost $ 2 — 5 1 — 5 Interest cost 321 18 32 349 20 32 Expected return on plan assets (483 ) — (26 ) (472 ) — (27 ) Amortization of net actuarial loss (gain) 81 14 (3 ) 68 9 (21 ) Amortization of prior service credit — — (2 ) — — (2 ) Settlement loss — 13 — — 2 — Net periodic benefit cost (income) $ (79 ) 45 6 (54 ) 31 (13 ) |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | The table below shows earnings per common share and diluted earnings per common share and reconciles the numerator and denominator of both earnings per common share calculations. Quarter ended September 30, Nine months ended September 30, (in millions, except per share amounts) 2015 2014 2015 2014 Wells Fargo net income $ 5,796 5,729 $ 17,319 17,348 Less: Preferred stock dividends and other 353 321 1,052 909 Wells Fargo net income applicable to common stock (numerator) $ 5,443 5,408 $ 16,267 16,439 Earnings per common share Average common shares outstanding (denominator) 5,125.8 5,225.9 5,145.9 5,252.2 Per share $ 1.06 1.04 $ 3.16 3.13 Diluted earnings per common share Average common shares outstanding 5,125.8 5,225.9 5,145.9 5,252.2 Add: Stock options 25.5 32.3 27.3 33.4 Restricted share rights 29.0 38.9 33.0 41.4 Warrants 13.5 13.3 14.1 12.2 Diluted average common shares outstanding (denominator) 5,193.8 5,310.4 5,220.3 5,339.2 Per share $ 1.05 1.02 $ 3.12 3.08 |
Antidilutive Warrants And Options Outstanding | The following table presents any outstanding options and warrants to purchase shares of common stock that were anti-dilutive (the exercise price was higher than the weighted-average market price), and therefore not included in the calculation of diluted earnings per common share. Weighted-average shares Quarter ended September 30, Nine months ended September 30, (in millions) 2015 2014 2015 2014 Options 5.0 7.2 5.9 8.2 |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Cumulative Other Comprehensive Income Balances [Abstract] [Abstract] | |
Components of other comprehensive income, reclassifications to net income by income statement line item, and the related tax effects | The following table provides the components of other comprehensive income (OCI), reclassifications to net income by income statement line item, and the related tax effects. Quarter ended September 30, Nine months ended September 30, 2015 2014 2015 2014 (in millions) Before tax Tax effect Net of tax Before tax Tax effect Net of tax Before tax Tax effect Net of tax Before tax Tax effect Net of tax Investment securities: Net unrealized gains (losses) arising during the period $ (441 ) 148 (293 ) (944 ) 260 (684 ) (2,017 ) 779 (1,238 ) 3,866 (1,569 ) 2,297 Reclassification of net (gains) losses to net income: Interest income on investment securities (1) 1 (1 ) — (5 ) 2 (3 ) (1 ) — (1 ) (31 ) 12 (19 ) Net gains on debt securities (147 ) 52 (95 ) (253 ) 96 (157 ) (606 ) 225 (381 ) (407 ) 154 (253 ) Net gains from equity investments (288 ) 107 (181 ) (403 ) 152 (251 ) (345 ) 128 (217 ) (767 ) 289 (478 ) Other noninterest income (5 ) 2 (3 ) — — — (5 ) 2 (3 ) — — — Subtotal reclassifications to net income (439 ) 160 (279 ) (661 ) 250 (411 ) (957 ) 355 (602 ) (1,205 ) 455 (750 ) Net change (880 ) 308 (572 ) (1,605 ) 510 (1,095 ) (2,974 ) 1,134 (1,840 ) 2,661 (1,114 ) 1,547 Derivatives and hedging activities: Net unrealized gains (losses) arising during the period 1,769 (667 ) 1,102 (34 ) 13 (21 ) 2,233 (842 ) 1,391 222 (84 ) 138 Reclassification of net (gains) losses to net income: Interest income on investment securities — — — — — — (2 ) 1 (1 ) (1 ) 1 — Interest income on loans (297 ) 112 (185 ) (133 ) 49 (84 ) (806 ) 304 (502 ) (387 ) 145 (242 ) Interest expense on long-term debt 4 (2 ) 2 6 (2 ) 4 13 (5 ) 8 40 (15 ) 25 Subtotal reclassifications to net income (293 ) 110 (183 ) (127 ) 47 (80 ) (795 ) 300 (495 ) (348 ) 131 (217 ) Net change 1,476 (557 ) 919 (161 ) 60 (101 ) 1,438 (542 ) 896 (126 ) 47 (79 ) Defined benefit plans adjustments: Net actuarial losses arising during the period — — — — — — (11 ) 4 (7 ) (12 ) 5 (7 ) Reclassification of amounts to net periodic benefit costs (2): Amortization of net actuarial loss 31 (12 ) 19 19 (8 ) 11 92 (35 ) 57 56 (22 ) 34 Settlements and other (1 ) 1 — (1 ) 1 — 11 (4 ) 7 — — — Subtotal reclassifications to net periodic benefit costs 30 (11 ) 19 18 (7 ) 11 103 (39 ) 64 56 (22 ) 34 Net change 30 (11 ) 19 18 (7 ) 11 92 (35 ) 57 44 (17 ) 27 Foreign currency translation adjustments: Net unrealized losses arising during the period (59 ) (8 ) (67 ) (32 ) (3 ) (35 ) (104 ) (13 ) (117 ) (32 ) (3 ) (35 ) Reclassification of net losses to net income: Noninterest income — — — — — — — — — 6 — 6 Net change (59 ) (8 ) (67 ) (32 ) (3 ) (35 ) (104 ) (13 ) (117 ) (26 ) (3 ) (29 ) Other comprehensive income (loss) $ 567 (268 ) 299 (1,780 ) 560 (1,220 ) (1,548 ) 544 (1,004 ) 2,553 (1,087 ) 1,466 Less: Other comprehensive income (loss) from noncontrolling interests, net of tax (22 ) (221 ) 125 (266 ) Wells Fargo other comprehensive income (loss), net of tax $ 321 (999 ) (1,129 ) 1,732 (1) Represents net unrealized gains and losses amortized over the remaining lives of securities that were transferred from the available-for-sale portfolio to the held-to-maturity portfolio. (2) These items are included in the computation of net periodic benefit cost, which is recorded in employee benefits expense (see Note 15 (Employee Benefits) for additional details). |
Cumulative other comprehensive income | Cumulative OCI balances were: (in millions) Investment securities Derivatives and hedging activities Defined benefit plans adjustments Foreign currency translation adjustments Cumulative other compre- hensive income Quarter ended September 30, 2015 Balance, beginning of period $ 3,509 310 (1,665 ) (86 ) 2,068 Net unrealized gains (losses) arising during the period (293 ) 1,102 — (67 ) 742 Amounts reclassified from accumulated other comprehensive income (279 ) (183 ) 19 — (443 ) Net change (572 ) 919 19 (67 ) 299 Less: Other comprehensive loss from noncontrolling interests (20 ) — — (2 ) (22 ) Balance, end of period $ 2,957 1,229 (1,646 ) (151 ) 2,389 Quarter ended September 30, 2014 Balance, beginning of period $ 5,025 102 (1,037 ) 27 4,117 Net unrealized losses arising during the period (684 ) (21 ) — (35 ) (740 ) Amounts reclassified from accumulated other comprehensive income (411 ) (80 ) 11 — (480 ) Net change (1,095 ) (101 ) 11 (35 ) (1,220 ) Less: Other comprehensive loss from noncontrolling interests (221 ) — — — (221 ) Balance, end of period $ 4,151 1 (1,026 ) (8 ) 3,118 Nine months ended September 30, 2015 Balance, beginning of period $ 4,926 333 (1,703 ) (38 ) 3,518 Net unrealized gains (losses) arising during the period (1,238 ) 1,391 (7 ) (117 ) 29 Amounts reclassified from accumulated other comprehensive income (602 ) (495 ) 64 — (1,033 ) Net change (1,840 ) 896 57 (117 ) (1,004 ) Less: Other comprehensive income (loss) from noncontrolling interests 129 — — (4 ) 125 Balance, end of period $ 2,957 1,229 (1,646 ) (151 ) 2,389 Nine months ended September 30, 2014 Balance, beginning of period $ 2,338 80 (1,053 ) 21 1,386 Net unrealized gains (losses) arising during the period 2,297 138 (7 ) (35 ) 2,393 Amounts reclassified from accumulated other comprehensive income (750 ) (217 ) 34 6 (927 ) Net change 1,547 (79 ) 27 (29 ) 1,466 Less: Other comprehensive loss from noncontrolling interests (266 ) — — — (266 ) Balance, end of period $ 4,151 1 (1,026 ) (8 ) 3,118 |
Operating Segments (Tables)
Operating Segments (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Segment Reporting [Abstract] | |
Financial Information of Operating Segment | Community Banking Wholesale Banking Wealth and Investment Management Other (1) Consolidated Company (income/expense in millions, average balances in billions) 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 Quarter ended Sep 30, Net interest income (2) $ 7,822 7,455 3,128 3,061 887 753 (380 ) (328 ) 11,457 10,941 Provision (reversal of provision) for credit losses 658 465 45 (85 ) (6 ) (25 ) 6 13 703 368 Noninterest income 5,796 5,356 2,442 2,606 2,991 3,052 (811 ) (742 ) 10,418 10,272 Noninterest expense 7,219 7,049 3,036 2,997 2,909 2,945 (765 ) (743 ) 12,399 12,248 Income (loss) before income tax expense (benefit) 5,741 5,297 2,489 2,755 975 885 (432 ) (340 ) 8,773 8,597 Income tax expense (benefit) 1,861 1,603 722 830 371 338 (164 ) (129 ) 2,790 2,642 Net income (loss) before noncontrolling interests 3,880 3,694 1,767 1,925 604 547 (268 ) (211 ) 5,983 5,955 Less: Net income (loss) from noncontrolling interests 194 233 (5 ) (4 ) (2 ) (3 ) — — 187 226 Net income (loss) (3) $ 3,686 3,461 1,772 1,929 606 550 (268 ) (211 ) 5,796 5,729 Average loans $ 511.0 498.3 363.1 316.8 61.1 52.6 (40.1 ) (34.5 ) 895.1 833.2 Average assets 977.1 944.8 652.6 562.0 192.6 185.2 (75.9 ) (74.1 ) 1,746.4 1,617.9 Average core deposits 690.5 646.9 311.3 278.3 163.0 153.7 (71.2 ) (66.7 ) 1,093.6 1,012.2 Nine months ended Sep 30, Net interest income (2) $ 23,051 22,075 9,215 9,021 2,545 2,221 (1,098 ) (970 ) 33,713 32,347 Provision (reversal of provision) for credit losses 1,638 1,163 (19 ) (227 ) (19 ) (58 ) 11 32 1,611 910 Noninterest income 15,980 15,883 7,902 7,691 9,285 9,135 (2,409 ) (2,152 ) 30,758 30,557 Noninterest expense 21,442 20,839 9,191 8,843 9,069 8,927 (2,327 ) (2,219 ) 37,375 36,390 Income (loss) before income tax expense (benefit) 15,951 15,956 7,945 8,096 2,780 2,487 (1,191 ) (935 ) 25,485 25,604 Income tax expense (benefit) 4,921 4,781 2,309 2,418 1,054 944 (452 ) (355 ) 7,832 7,788 Net income (loss) before noncontrolling interests 11,030 11,175 5,636 5,678 1,726 1,543 (739 ) (580 ) 17,653 17,816 Less: Net income (loss) from noncontrolling interests 337 469 (8 ) (3 ) 5 2 — — 334 468 Net income (loss) (3) $ 10,693 10,706 5,644 5,681 1,721 1,541 (739 ) (580 ) 17,319 17,348 Average loans $ 507.8 502.7 348.4 309.2 59.1 51.2 (38.9 ) (33.7 ) 876.4 829.4 Average assets 984.0 914.5 628.6 544.0 191.1 185.4 (75.7 ) (74.3 ) 1,728.0 1,569.6 Average core deposits 681.8 637.8 306.2 267.7 161.4 154.3 (70.6 ) (67.1 ) 1,078.8 992.7 (1) Includes items not specific to a business segment and elimination of certain items that are included in more than one business segment, substantially all of which represents products and services for wealth management customers provided in Community Banking stores. (2) Net interest income is the difference between interest earned on assets and the cost of liabilities to fund those assets. Interest earned includes actual interest earned on segment assets and, if the segment has excess liabilities, interest credits for providing funding to other segments. The cost of liabilities includes interest expense on segment liabilities and, if the segment does not have enough liabilities to fund its assets, a funding charge based on the cost of excess liabilities from another segment. (3) Represents segment net income (loss) for Community Banking; Wholesale Banking; and Wealth and Investment Management segments and Wells Fargo net income for the consolidated company. |
Regulatory and Agency Capital46
Regulatory and Agency Capital Requirements (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Banking and Thrift [Abstract] | |
Regulatory And Agency Capital Requirements | The following table presents regulatory capital information for Wells Fargo & Company and the Bank using Basel III, which increased minimum required capital ratios, and introduced a minimum Common Equity Tier 1 (CET1) ratio. Beginning second quarter 2015, our capital ratios were calculated in accordance with the Basel III Standardized and Advanced Approaches. Accordingly, we must report the lower of our CET1, tier 1 and total capital ratios calculated under the Standardized Approach and under the Advanced Approach in the assessment of our capital adequacy. The information presented for 2015 reflects the transition to determining risk-weighted assets (RWAs) under the Basel III Standardized and Advanced Approaches with Transition Requirements from RWAs determined using general risk-based capital rules (General Approach) effective in 2014. The Standardized and General Approaches each apply assigned risk weights to broad risk categories but many of the risk categories and/or weights were changed by Basel III for the Standardized Approach and will generally result in higher risk-weighted assets than from those prescribed for the General Approach. Calculation of RWAs under the Advanced Approach differs by requiring applicable banks to utilize a risk-sensitive methodology, which relies upon the use of internal credit models, and includes an operational risk component. The Basel III revised definition of capital, and changes are being phased-in effective January 1, 2014, through the end of 2021. The Bank is an approved seller/servicer of mortgage loans and is required to maintain minimum levels of shareholders’ equity, as specified by various agencies, including the United States Department of Housing and Urban Development, GNMA, FHLMC and FNMA. At September 30, 2015 , the Bank met these requirements. Other subsidiaries, including the Company’s insurance and broker-dealer subsidiaries, are also subject to various minimum capital levels, as defined by applicable industry regulations. The minimum capital levels for these subsidiaries, and related restrictions, are not significant to our consolidated operations. Wells Fargo & Company Wells Fargo Bank, N.A. Advanced Approach Standardized Approach General Advanced Approach Standardized General Advanced & Standardized Approach Minimum (in billions, except ratios) Sep 30, Sep 30, Dec 31, Sep 30, Sep 30, Dec 31, Sep 30, Regulatory capital: Common equity tier 1 $ 142.9 $ 142.9 137.1 124.9 124.9 119.9 Tier 1 163.2 163.2 154.7 124.9 124.9 119.9 Total 192.2 202.9 192.9 138.5 148.2 144.0 Assets: Risk-weighted $ 1,293.9 $ 1,314.4 1,242.5 1,112.6 1,195.0 1,142.5 Adjusted average (2) 1,715.5 1,715.5 1,637.0 1,546.3 1,546.3 1,487.6 Regulatory capital ratios: Common equity tier 1 capital 11.05 % 10.87 11.04 11.22 10.45 10.49 4.50 Tier 1 capital 12.61 12.42 12.45 11.22 10.45 10.49 6.00 Total capital 14.86 15.44 15.53 12.45 12.40 12.61 8.00 Tier 1 leverage (2) 9.51 9.51 9.45 8.08 8.08 8.06 4.00 (1) As defined by the regulations issued by the Federal Reserve, OCC and FDIC, which apply to Wells Fargo & Company and Wells Fargo Bank, N.A.. (2) The leverage ratio consists of Tier 1 capital divided by quarterly average total assets, excluding goodwill and certain other items. The minimum leverage ratio guideline is 3% for banking organizations that do not anticipate significant growth and that have well-diversified risk, excellent asset quality, high liquidity, good earnings, effective management and monitoring of market risk and, in general, are considered top-rated, strong banking organizations. |
Summary of Significant Accoun47
Summary of Significant Accounting Policies (Details) - USD ($) shares in Millions | 3 Months Ended | 9 Months Ended | |
Dec. 31, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Supplemental cash flow information - Noncash activities | |||
Trading assets retained from securitization of MHFS | $ 34,994,000,000 | $ 18,717,000,000 | |
Transfers from loans to MHFS | 7,219,000,000 | 9,035,000,000 | |
Transfers from loans to LHFS | 90,000,000 | 9,842,000,000 | |
Transfers from loans to foreclosed and other assets | 2,471,000,000 | 3,228,000,000 | |
Transfers from available-for-sale to held-to-maturity securities | 4,972,000,000 | 0 | |
Private Forward Repurchase Transaction [Member] | |||
Summary Of Significant Accounting Policies Textuals [Abstract] | |||
Private forward repurchase contract | $ 0 | $ 1,000,000,000 | |
Common stock repurchased, shares | 19.8 |
Business Combinations (Details)
Business Combinations (Details) $ in Billions | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2015business | Mar. 31, 2016USD ($) | |
Business Acquisition [Line Items] | |||
Business acquisition, number completed during period | 0 | ||
Pending Acquisition [Member] | |||
Business Acquisition [Line Items] | |||
Business acquisition, number completed during period | 2 | ||
Railcar and Locomotive Leasing [Member] | |||
Business Acquisition [Line Items] | |||
Business Acquisition,Number of Railcars | 77,000 | ||
Business Acquisitions, Number of Locomotives | 1,000 | ||
Subsequent Event [Member] | GE Capital Acquisition [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | $ | $ 32 |
Federal Funds Sold, Securitie49
Federal Funds Sold, Securities Purchased under Resale Agreements and Other Short-Term Investments (Details) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 |
Federal Funds Sold, Securities Purchased under Resale Agreements and Other Short-Term Investments [Line Items] | ||
Federal funds sold and securities purchased under resale agreements | $ 44,894,000,000 | $ 36,856,000,000 |
Interest-earning deposits | 207,496,000,000 | 219,220,000,000 |
Other short-term investments | 2,421,000,000 | 2,353,000,000 |
Total | 254,811,000,000 | 258,429,000,000 |
Federal Funds Sold, Securities Purchased under Resale Agreements and Other Short-Term Investments Textual [Abstract] | ||
Unfunded contractual commitments | 2,500,000,000 | 2,600,000,000 |
Funded contractual commitments | 0 | 0 |
Loans [Member] | ||
Federal Funds Sold, Securities Purchased under Resale Agreements and Other Short-Term Investments Textual [Abstract] | ||
Securities purchased under long-term resale agreements | $ 19,700,000,000 | $ 14,900,000,000 |
Investment Securities, Major Ca
Investment Securities, Major Categories (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Available-for-sale securities: | ||
Amortized Cost | $ 261,547 | $ 249,653 |
Gross unrealized gains | 6,976 | 9,711 |
Gross unrealized losses | (2,117) | (1,922) |
Fair value | 266,406 | 257,442 |
Held-to-maturity securities: | ||
Amortized Cost | 78,668 | 55,483 |
Gross unrealized gains | 1,572 | 897 |
Gross unrealized losses | (121) | (21) |
Fair value | 80,119 | 56,359 |
Total investment securities: | ||
Amortized Cost | 340,215 | 305,136 |
Gross unrealized gains | 8,548 | 10,608 |
Gross unrealized losses | (2,238) | (1,943) |
Fair value | 346,525 | 313,801 |
Collateralized Debt Obligations [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 250 | 364 |
Fair value | 316 | 500 |
Asset-backed Securities, Securitized Loans and Receivables [Member] | ||
Held-to-maturity securities: | ||
Amortized Cost | 2,200 | 3,800 |
Fair value | 2,200 | 3,800 |
Asset-backed Securities Collateralized by Dealer Floorplan Loans [Member] | ||
Held-to-maturity securities: | ||
Amortized Cost | 1,400 | 1,900 |
Fair value | 0 | 2,000 |
Total debt securities [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 260,429 | 247,747 |
Gross unrealized gains | 6,132 | 7,869 |
Gross unrealized losses | (2,096) | (1,850) |
Fair value | 264,465 | 253,766 |
Held-to-maturity securities: | ||
Fair value | 80,119 | 56,359 |
Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 35,049 | 25,898 |
Gross unrealized gains | 384 | 44 |
Gross unrealized losses | (10) | (138) |
Fair value | 35,423 | 25,804 |
Held-to-maturity securities: | ||
Amortized Cost | 44,653 | 40,886 |
Gross unrealized gains | 1,333 | 670 |
Gross unrealized losses | (12) | (8) |
Fair value | 45,974 | 41,548 |
Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 49,497 | 43,939 |
Gross unrealized gains | 1,013 | 1,504 |
Gross unrealized losses | (1,087) | (499) |
Fair value | 49,423 | 44,944 |
Held-to-maturity securities: | ||
Amortized Cost | 2,187 | 1,962 |
Gross unrealized gains | 28 | 27 |
Gross unrealized losses | (3) | 0 |
Fair value | 2,212 | 1,989 |
Mortgage-backed securities: [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 124,419 | 132,311 |
Gross unrealized gains | 3,896 | 4,873 |
Gross unrealized losses | (456) | (832) |
Fair value | 127,859 | 136,352 |
Federal agencies [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 102,660 | 107,850 |
Gross unrealized gains | 2,730 | 2,990 |
Gross unrealized losses | (367) | (751) |
Fair value | 105,023 | 110,089 |
Held-to-maturity securities: | ||
Amortized Cost | 26,828 | 5,476 |
Gross unrealized gains | 194 | 165 |
Gross unrealized losses | (92) | 0 |
Fair value | 26,930 | 5,641 |
Residential [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 7,335 | 8,213 |
Gross unrealized gains | 812 | 1,080 |
Gross unrealized losses | (19) | (24) |
Fair value | 8,128 | 9,269 |
Commercial [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 14,424 | 16,248 |
Gross unrealized gains | 354 | 803 |
Gross unrealized losses | (70) | (57) |
Fair value | 14,708 | 16,994 |
Corporate debt securities [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 15,350 | 14,211 |
Gross unrealized gains | 451 | 745 |
Gross unrealized losses | (311) | (170) |
Fair value | 15,490 | 14,786 |
Collateralized loan and other debt obligations [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 29,988 | 25,137 |
Gross unrealized gains | 248 | 408 |
Gross unrealized losses | (182) | (184) |
Fair value | 30,054 | 25,361 |
Held-to-maturity securities: | ||
Amortized Cost | 1,405 | 1,404 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | (14) | (13) |
Fair value | 1,391 | 1,391 |
Other [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 6,126 | 6,251 |
Gross unrealized gains | 140 | 295 |
Gross unrealized losses | (50) | (27) |
Fair value | 6,216 | 6,519 |
Held-to-maturity securities: | ||
Amortized Cost | 3,595 | 5,755 |
Gross unrealized gains | 17 | 35 |
Gross unrealized losses | 0 | 0 |
Fair value | 3,612 | 5,790 |
Total marketable equity securities [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 1,118 | 1,906 |
Gross unrealized gains | 844 | 1,842 |
Gross unrealized losses | (21) | (72) |
Fair value | 1,941 | 3,676 |
Perpetual preferred securities [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 840 | 1,622 |
Gross unrealized gains | 115 | 148 |
Gross unrealized losses | (15) | (70) |
Fair value | 940 | 1,700 |
Other marketable equity securities [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 278 | 284 |
Gross unrealized gains | 729 | 1,694 |
Gross unrealized losses | (6) | (2) |
Fair value | $ 1,001 | $ 1,976 |
Investment Securities, Gross Un
Investment Securities, Gross Unrealized Losses and Fair Value (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | $ (1,101) | $ (485) |
Less than 12 months, Fair value, available-for-sale | 72,385 | 37,490 |
12 months or more, Gross unrealized losses, available-for-sale | (1,016) | (1,437) |
12 months or more, Fair value, available-for-sale | 26,969 | 55,107 |
Total, Gross unrealized losses, available-for-sale | (2,117) | (1,922) |
Total, Fair value, available-for-sale | 99,354 | 92,597 |
Held-to-maturity securities: | ||
Less than 12 months, Gross unrealized losses, held-to-maturity | (118) | (21) |
Less than 12 months, Fair value, held-to-maturity | 20,544 | 3,280 |
12 months or more, Gross unrealized losses, held-to-maturity | (3) | 0 |
12 months or more, Fair value, held-to-maturity | 233 | 0 |
Total, Gross unrealized losses, held-to-maturity | (121) | (21) |
Total, Fair value, held-to-maturity | 20,777 | 3,280 |
Total investment securities: | ||
Less than 12 months, Gross unrealized losses, investment securities | (1,219) | (506) |
Less than 12 months, Fair value, investment securities | 92,929 | 40,770 |
12 months or more, Gross unrealized losses, investment securities | (1,019) | (1,437) |
12 months or more, Fair value, investment securities | 27,202 | 55,107 |
Total, Gross unrealized losses, investment securities | (2,238) | (1,943) |
Total, Fair value, investment securities | 120,131 | 95,877 |
Total debt securities [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (1,094) | (481) |
Less than 12 months, Fair value, available-for-sale | 72,287 | 37,357 |
12 months or more, Gross unrealized losses, available-for-sale | (1,002) | (1,369) |
12 months or more, Fair value, available-for-sale | 26,848 | 54,474 |
Total, Gross unrealized losses, available-for-sale | (2,096) | (1,850) |
Total, Fair value, available-for-sale | 99,135 | 91,831 |
Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (4) | (16) |
Less than 12 months, Fair value, available-for-sale | 1,332 | 7,138 |
12 months or more, Gross unrealized losses, available-for-sale | (6) | (122) |
12 months or more, Fair value, available-for-sale | 2,020 | 5,719 |
Total, Gross unrealized losses, available-for-sale | (10) | (138) |
Total, Fair value, available-for-sale | 3,352 | 12,857 |
Held-to-maturity securities: | ||
Less than 12 months, Gross unrealized losses, held-to-maturity | (12) | (8) |
Less than 12 months, Fair value, held-to-maturity | 2,434 | 1,889 |
12 months or more, Gross unrealized losses, held-to-maturity | 0 | 0 |
12 months or more, Fair value, held-to-maturity | 0 | 0 |
Total, Gross unrealized losses, held-to-maturity | (12) | (8) |
Total, Fair value, held-to-maturity | 2,434 | 1,889 |
Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (559) | (198) |
Less than 12 months, Fair value, available-for-sale | 19,812 | 10,228 |
12 months or more, Gross unrealized losses, available-for-sale | (528) | (301) |
12 months or more, Fair value, available-for-sale | 6,242 | 3,725 |
Total, Gross unrealized losses, available-for-sale | (1,087) | (499) |
Total, Fair value, available-for-sale | 26,054 | 13,953 |
Held-to-maturity securities: | ||
Less than 12 months, Gross unrealized losses, held-to-maturity | (3) | |
Less than 12 months, Fair value, held-to-maturity | 454 | |
12 months or more, Gross unrealized losses, held-to-maturity | 0 | |
12 months or more, Fair value, held-to-maturity | 0 | |
Total, Gross unrealized losses, held-to-maturity | (3) | |
Total, Fair value, held-to-maturity | 454 | |
Mortgage-backed securities: [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (209) | (43) |
Less than 12 months, Fair value, available-for-sale | 26,573 | 4,854 |
12 months or more, Gross unrealized losses, available-for-sale | (247) | (789) |
12 months or more, Fair value, available-for-sale | 12,723 | 39,530 |
Total, Gross unrealized losses, available-for-sale | (456) | (832) |
Total, Fair value, available-for-sale | 39,296 | 44,384 |
Federal agencies [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (173) | (16) |
Less than 12 months, Fair value, available-for-sale | 21,559 | 1,706 |
12 months or more, Gross unrealized losses, available-for-sale | (194) | (735) |
12 months or more, Fair value, available-for-sale | 10,421 | 37,854 |
Total, Gross unrealized losses, available-for-sale | (367) | (751) |
Total, Fair value, available-for-sale | 31,980 | 39,560 |
Held-to-maturity securities: | ||
Less than 12 months, Gross unrealized losses, held-to-maturity | (92) | |
Less than 12 months, Fair value, held-to-maturity | 16,498 | |
12 months or more, Gross unrealized losses, held-to-maturity | 0 | |
12 months or more, Fair value, held-to-maturity | 0 | |
Total, Gross unrealized losses, held-to-maturity | (92) | |
Total, Fair value, held-to-maturity | 16,498 | |
Residential [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (13) | (18) |
Less than 12 months, Fair value, available-for-sale | 980 | 946 |
12 months or more, Gross unrealized losses, available-for-sale | (6) | (6) |
12 months or more, Fair value, available-for-sale | 272 | 144 |
Total, Gross unrealized losses, available-for-sale | (19) | (24) |
Total, Fair value, available-for-sale | 1,252 | 1,090 |
Commercial [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (23) | (9) |
Less than 12 months, Fair value, available-for-sale | 4,034 | 2,202 |
12 months or more, Gross unrealized losses, available-for-sale | (47) | (48) |
12 months or more, Fair value, available-for-sale | 2,030 | 1,532 |
Total, Gross unrealized losses, available-for-sale | (70) | (57) |
Total, Fair value, available-for-sale | 6,064 | 3,734 |
Corporate debt securities [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (179) | (102) |
Less than 12 months, Fair value, available-for-sale | 3,963 | 1,674 |
12 months or more, Gross unrealized losses, available-for-sale | (132) | (68) |
12 months or more, Fair value, available-for-sale | 967 | 1,265 |
Total, Gross unrealized losses, available-for-sale | (311) | (170) |
Total, Fair value, available-for-sale | 4,930 | 2,939 |
Collateralized loan and other debt obligations [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (116) | (99) |
Less than 12 months, Fair value, available-for-sale | 18,075 | 12,755 |
12 months or more, Gross unrealized losses, available-for-sale | (66) | (85) |
12 months or more, Fair value, available-for-sale | 4,375 | 3,958 |
Total, Gross unrealized losses, available-for-sale | (182) | (184) |
Total, Fair value, available-for-sale | 22,450 | 16,713 |
Held-to-maturity securities: | ||
Less than 12 months, Gross unrealized losses, held-to-maturity | (11) | (13) |
Less than 12 months, Fair value, held-to-maturity | 1,158 | 1,391 |
12 months or more, Gross unrealized losses, held-to-maturity | (3) | 0 |
12 months or more, Fair value, held-to-maturity | 233 | 0 |
Total, Gross unrealized losses, held-to-maturity | (14) | (13) |
Total, Fair value, held-to-maturity | 1,391 | 1,391 |
Other [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (27) | (23) |
Less than 12 months, Fair value, available-for-sale | 2,532 | 708 |
12 months or more, Gross unrealized losses, available-for-sale | (23) | (4) |
12 months or more, Fair value, available-for-sale | 521 | 277 |
Total, Gross unrealized losses, available-for-sale | (50) | (27) |
Total, Fair value, available-for-sale | 3,053 | 985 |
Total marketable equity securities [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (7) | (4) |
Less than 12 months, Fair value, available-for-sale | 98 | 133 |
12 months or more, Gross unrealized losses, available-for-sale | (14) | (68) |
12 months or more, Fair value, available-for-sale | 121 | 633 |
Total, Gross unrealized losses, available-for-sale | (21) | (72) |
Total, Fair value, available-for-sale | 219 | 766 |
Perpetual preferred securities [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (1) | (2) |
Less than 12 months, Fair value, available-for-sale | 45 | 92 |
12 months or more, Gross unrealized losses, available-for-sale | (14) | (68) |
12 months or more, Fair value, available-for-sale | 121 | 633 |
Total, Gross unrealized losses, available-for-sale | (15) | (70) |
Total, Fair value, available-for-sale | 166 | 725 |
Other marketable equity securities [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (6) | (2) |
Less than 12 months, Fair value, available-for-sale | 53 | 41 |
12 months or more, Gross unrealized losses, available-for-sale | 0 | 0 |
12 months or more, Fair value, available-for-sale | 0 | 0 |
Total, Gross unrealized losses, available-for-sale | (6) | (2) |
Total, Fair value, available-for-sale | $ 53 | $ 41 |
Investment Securities, Unrealiz
Investment Securities, Unrealized Loss Position, by Credit Rating (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Available-for-sale securities: | ||
Gross unrealized losses | $ (2,117) | $ (1,922) |
Fair value | 266,406 | 257,442 |
Held-to-maturity securities: | ||
Gross unrealized losses | (121) | (21) |
Fair value | 80,119 | 56,359 |
Total investment securities: | ||
Gross unrealized losses | (2,238) | (1,943) |
Fair value | 346,525 | 313,801 |
Total debt securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (2,096) | (1,850) |
Fair value | 264,465 | 253,766 |
Held-to-maturity securities: | ||
Fair value | 80,119 | 56,359 |
Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (10) | (138) |
Fair value | 35,423 | 25,804 |
Held-to-maturity securities: | ||
Gross unrealized losses | (12) | (8) |
Fair value | 45,974 | 41,548 |
Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (1,087) | (499) |
Fair value | 49,423 | 44,944 |
Held-to-maturity securities: | ||
Gross unrealized losses | (3) | 0 |
Fair value | 2,212 | 1,989 |
Mortgage-backed securities: [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (456) | (832) |
Fair value | 127,859 | 136,352 |
Federal agencies [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (367) | (751) |
Fair value | 105,023 | 110,089 |
Held-to-maturity securities: | ||
Gross unrealized losses | (92) | 0 |
Fair value | 26,930 | 5,641 |
Residential [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (19) | (24) |
Fair value | 8,128 | 9,269 |
Commercial [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (70) | (57) |
Fair value | 14,708 | 16,994 |
Corporate debt securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (311) | (170) |
Fair value | 15,490 | 14,786 |
Collateralized loan and other debt obligations [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (182) | (184) |
Fair value | 30,054 | 25,361 |
Held-to-maturity securities: | ||
Gross unrealized losses | (14) | (13) |
Fair value | 1,391 | 1,391 |
Other [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (50) | (27) |
Fair value | 6,216 | 6,519 |
Held-to-maturity securities: | ||
Gross unrealized losses | 0 | 0 |
Fair value | 3,612 | 5,790 |
Total marketable equity securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (21) | (72) |
Fair value | 1,941 | 3,676 |
Perpetual preferred securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (15) | (70) |
Fair value | 940 | 1,700 |
Unrated Investment Grade Securities [Member] | ||
Total investment securities: | ||
Gross unrealized losses | (40) | (25) |
Fair value | 2,600 | 1,600 |
Investment grade [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (1,798) | (1,676) |
Fair value | 95,563 | 89,445 |
Held-to-maturity securities: | ||
Gross unrealized losses | (121) | (21) |
Fair value | 20,777 | 3,280 |
Total investment securities: | ||
Gross unrealized losses | (1,919) | (1,697) |
Fair value | 116,340 | 92,725 |
Investment grade [Member] | Total debt securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (1,783) | (1,606) |
Fair value | 95,397 | 88,720 |
Investment grade [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (10) | (138) |
Fair value | 3,352 | 12,857 |
Held-to-maturity securities: | ||
Gross unrealized losses | (12) | (8) |
Fair value | 2,434 | 1,889 |
Investment grade [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (1,042) | (459) |
Fair value | 25,619 | 13,600 |
Held-to-maturity securities: | ||
Gross unrealized losses | (3) | |
Fair value | 454 | |
Investment grade [Member] | Mortgage-backed securities: [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (421) | (775) |
Fair value | 38,320 | 43,065 |
Investment grade [Member] | Federal agencies [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (367) | (751) |
Fair value | 31,980 | 39,560 |
Held-to-maturity securities: | ||
Gross unrealized losses | (92) | |
Fair value | 16,498 | |
Investment grade [Member] | Residential [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (9) | 0 |
Fair value | 722 | 139 |
Investment grade [Member] | Commercial [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (45) | (24) |
Fair value | 5,618 | 3,366 |
Investment grade [Member] | Corporate debt securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (83) | (39) |
Fair value | 2,952 | 1,807 |
Investment grade [Member] | Collateralized loan and other debt obligations [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (181) | (172) |
Fair value | 22,393 | 16,609 |
Held-to-maturity securities: | ||
Gross unrealized losses | (14) | (13) |
Fair value | 1,391 | 1,391 |
Investment grade [Member] | Other [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (46) | (23) |
Fair value | 2,761 | 782 |
Investment grade [Member] | Perpetual preferred securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (15) | (70) |
Fair value | 166 | 725 |
Non-investment grade [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (313) | (244) |
Fair value | 3,738 | 3,111 |
Held-to-maturity securities: | ||
Gross unrealized losses | 0 | 0 |
Fair value | 0 | 0 |
Total investment securities: | ||
Gross unrealized losses | (313) | (244) |
Fair value | 3,738 | 3,111 |
Non-investment grade [Member] | Total debt securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (313) | (244) |
Fair value | 3,738 | 3,111 |
Non-investment grade [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | 0 | 0 |
Fair value | 0 | 0 |
Held-to-maturity securities: | ||
Gross unrealized losses | 0 | 0 |
Fair value | 0 | 0 |
Non-investment grade [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (45) | (40) |
Fair value | 435 | 353 |
Held-to-maturity securities: | ||
Gross unrealized losses | 0 | |
Fair value | 0 | |
Non-investment grade [Member] | Mortgage-backed securities: [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (35) | (57) |
Fair value | 976 | 1,319 |
Non-investment grade [Member] | Federal agencies [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | 0 | 0 |
Fair value | 0 | 0 |
Held-to-maturity securities: | ||
Gross unrealized losses | 0 | |
Fair value | 0 | |
Non-investment grade [Member] | Residential [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (10) | (24) |
Fair value | 530 | 951 |
Non-investment grade [Member] | Commercial [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (25) | (33) |
Fair value | 446 | 368 |
Non-investment grade [Member] | Corporate debt securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (228) | (131) |
Fair value | 1,978 | 1,132 |
Non-investment grade [Member] | Collateralized loan and other debt obligations [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (1) | (12) |
Fair value | 57 | 104 |
Held-to-maturity securities: | ||
Gross unrealized losses | 0 | 0 |
Fair value | 0 | 0 |
Non-investment grade [Member] | Other [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (4) | (4) |
Fair value | 292 | 203 |
Non-investment grade [Member] | Perpetual preferred securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | 0 | 0 |
Fair value | $ 0 | $ 0 |
Investment Securities, Contract
Investment Securities, Contractual Maturities (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 264,465 | $ 253,766 |
Weighted average yield contractual maturities, Total, available-for-sale | 3.55% | 3.60% |
Due within 1 year, Contractual maturities, available-for-sale | $ 4,259 | $ 4,647 |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 2.53% | 2.03% |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 48,608 | $ 39,775 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 2.05% | 2.20% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 27,375 | $ 22,310 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 2.95% | 3.12% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 184,223 | $ 187,034 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 4.06% | 3.99% |
Held-to-maturity securities: | ||
Amortized Cost | $ 78,668 | $ 55,483 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 2.66% | 2.37% |
Due within 1 year, Contractual maturities, held-to-maturity, cost | $ 0 | $ 192 |
Percentage of weighted average yield, Due In 1 year, held-to-maturity, cost | 0.00% | 1.61% |
Held-to-maturity Securities, Debt Maturities, after One Through Five Years, Net Carrying Amount | $ 2,560 | $ 4,214 |
Percentage of weighted average yield, Due In 1-5 years, held-to-maturity, cost | 1.68% | 1.72% |
Due in 5-10 years, Contractual maturities, held-to-maturity, cost | $ 45,787 | $ 42,244 |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 2.11% | 2.10% |
Due in 10 years or more, Contractual maturities, held-to-maturity, cost | $ 30,321 | $ 8,833 |
Percentage of weighted average yield, Due after 10 years, held-to-maturity, cost | 3.56% | 3.96% |
Held-to-maturity securities, fair value: [Abstract] | ||
Contractual maturities, Total amount, held-to-maturity, fair value | $ 80,119 | $ 56,359 |
Total debt securities [Member] | ||
Held-to-maturity securities, fair value: [Abstract] | ||
Contractual maturities, Total amount, held-to-maturity, fair value | 80,119 | 56,359 |
Due within 1 year, Contractual maturities, held-to-maturity, fair value | 0 | 193 |
Due in 1-5 years, Contractual maturities, held-to-maturity, fair value | 2,572 | 4,239 |
Due in 5-10 years, Contractual maturities, held-to-maturity, fair value | 47,114 | 42,915 |
Due in 10 years or more, Contractual maturities, held-to-maturity, fair value | 30,433 | 9,012 |
Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 35,423 | $ 25,804 |
Weighted average yield contractual maturities, Total, available-for-sale | 1.50% | 1.49% |
Due within 1 year, Contractual maturities, available-for-sale | $ 128 | $ 181 |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 0.72% | 1.47% |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 30,972 | $ 22,348 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 1.46% | 1.44% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 4,323 | $ 3,275 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 1.82% | 1.83% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 0 | $ 0 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 0.00% | 0.00% |
Held-to-maturity securities: | ||
Amortized Cost | $ 44,653 | $ 40,886 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 2.12% | 2.12% |
Due within 1 year, Contractual maturities, held-to-maturity, cost | $ 0 | $ 0 |
Percentage of weighted average yield, Due In 1 year, held-to-maturity, cost | 0.00% | 0.00% |
Held-to-maturity Securities, Debt Maturities, after One Through Five Years, Net Carrying Amount | $ 0 | $ 0 |
Percentage of weighted average yield, Due In 1-5 years, held-to-maturity, cost | 0.00% | 0.00% |
Due in 5-10 years, Contractual maturities, held-to-maturity, cost | $ 44,653 | $ 40,886 |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 2.12% | 2.12% |
Due in 10 years or more, Contractual maturities, held-to-maturity, cost | $ 0 | $ 0 |
Percentage of weighted average yield, Due after 10 years, held-to-maturity, cost | 0.00% | 0.00% |
Held-to-maturity securities, fair value: [Abstract] | ||
Contractual maturities, Total amount, held-to-maturity, fair value | $ 45,974 | $ 41,548 |
Due within 1 year, Contractual maturities, held-to-maturity, fair value | 0 | 0 |
Due in 1-5 years, Contractual maturities, held-to-maturity, fair value | 0 | 0 |
Due in 5-10 years, Contractual maturities, held-to-maturity, fair value | 45,974 | 41,548 |
Due in 10 years or more, Contractual maturities, held-to-maturity, fair value | 0 | 0 |
Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 49,423 | $ 44,944 |
Weighted average yield contractual maturities, Total, available-for-sale | 5.71% | 5.66% |
Due within 1 year, Contractual maturities, available-for-sale | $ 2,386 | $ 3,568 |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 1.72% | 1.71% |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 7,767 | $ 7,050 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 2.05% | 2.19% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 3,165 | $ 3,235 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 5.21% | 5.13% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 36,105 | $ 31,091 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 6.80% | 6.96% |
Held-to-maturity securities: | ||
Amortized Cost | $ 2,187 | $ 1,962 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 5.73% | 5.60% |
Due within 1 year, Contractual maturities, held-to-maturity, cost | $ 0 | $ 0 |
Percentage of weighted average yield, Due In 1 year, held-to-maturity, cost | 0.00% | 0.00% |
Held-to-maturity Securities, Debt Maturities, after One Through Five Years, Net Carrying Amount | $ 0 | $ 0 |
Percentage of weighted average yield, Due In 1-5 years, held-to-maturity, cost | 0.00% | 0.00% |
Due in 5-10 years, Contractual maturities, held-to-maturity, cost | $ 99 | $ 9 |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 7.32% | 6.60% |
Due in 10 years or more, Contractual maturities, held-to-maturity, cost | $ 2,088 | $ 1,953 |
Percentage of weighted average yield, Due after 10 years, held-to-maturity, cost | 5.65% | 5.59% |
Held-to-maturity securities, fair value: [Abstract] | ||
Contractual maturities, Total amount, held-to-maturity, fair value | $ 2,212 | $ 1,989 |
Due within 1 year, Contractual maturities, held-to-maturity, fair value | 0 | 0 |
Due in 1-5 years, Contractual maturities, held-to-maturity, fair value | 0 | 0 |
Due in 5-10 years, Contractual maturities, held-to-maturity, fair value | 100 | 9 |
Due in 10 years or more, Contractual maturities, held-to-maturity, fair value | 2,112 | 1,980 |
Mortgage-backed securities: [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 127,859 | $ 136,352 |
Weighted average yield contractual maturities, Total, available-for-sale | 3.58% | 3.59% |
Due within 1 year, Contractual maturities, available-for-sale | $ 5 | $ 1 |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 6.53% | 0.28% |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 433 | $ 347 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 2.21% | 2.88% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 1,260 | $ 1,099 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 4.01% | 3.54% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 126,161 | $ 134,905 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 3.58% | 3.59% |
Federal agencies [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 105,023 | $ 110,089 |
Weighted average yield contractual maturities, Total, available-for-sale | 3.29% | 3.27% |
Due within 1 year, Contractual maturities, available-for-sale | $ 5 | $ 0 |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 6.53% | 0.00% |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 335 | $ 276 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 1.80% | 2.86% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 1,223 | $ 1,011 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 3.94% | 3.38% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 103,460 | $ 108,802 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 3.29% | 3.27% |
Held-to-maturity securities: | ||
Amortized Cost | $ 26,828 | $ 5,476 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 3.47% | 3.89% |
Due within 1 year, Contractual maturities, held-to-maturity, cost | $ 0 | $ 0 |
Percentage of weighted average yield, Due In 1 year, held-to-maturity, cost | 0.00% | 0.00% |
Held-to-maturity Securities, Debt Maturities, after One Through Five Years, Net Carrying Amount | $ 0 | $ 0 |
Percentage of weighted average yield, Due In 1-5 years, held-to-maturity, cost | 0.00% | 0.00% |
Due in 5-10 years, Contractual maturities, held-to-maturity, cost | $ 0 | $ 0 |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 0.00% | 0.00% |
Due in 10 years or more, Contractual maturities, held-to-maturity, cost | $ 26,828 | $ 5,476 |
Percentage of weighted average yield, Due after 10 years, held-to-maturity, cost | 3.47% | 3.89% |
Held-to-maturity securities, fair value: [Abstract] | ||
Contractual maturities, Total amount, held-to-maturity, fair value | $ 26,930 | $ 5,641 |
Due within 1 year, Contractual maturities, held-to-maturity, fair value | 0 | 0 |
Due in 1-5 years, Contractual maturities, held-to-maturity, fair value | 0 | 0 |
Due in 5-10 years, Contractual maturities, held-to-maturity, fair value | 0 | 0 |
Due in 10 years or more, Contractual maturities, held-to-maturity, fair value | 26,930 | 5,641 |
Residential [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 8,128 | $ 9,269 |
Weighted average yield contractual maturities, Total, available-for-sale | 4.44% | 4.50% |
Due within 1 year, Contractual maturities, available-for-sale | $ 0 | $ 0 |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 0.00% | 0.00% |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 37 | $ 9 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 5.11% | 4.81% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 37 | $ 83 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 6.03% | 5.63% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 8,054 | $ 9,177 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 4.43% | 4.49% |
Commercial [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 14,708 | $ 16,994 |
Weighted average yield contractual maturities, Total, available-for-sale | 5.18% | 5.16% |
Due within 1 year, Contractual maturities, available-for-sale | $ 0 | $ 1 |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 0.00% | 0.28% |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 61 | $ 62 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 2.66% | 2.71% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 0 | $ 5 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 0.00% | 1.30% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 14,647 | $ 16,926 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 5.19% | 5.17% |
Corporate debt securities [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 15,490 | $ 14,786 |
Weighted average yield contractual maturities, Total, available-for-sale | 4.74% | 4.90% |
Due within 1 year, Contractual maturities, available-for-sale | $ 1,431 | $ 600 |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 4.21% | 4.32% |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 7,459 | $ 7,634 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 4.58% | 4.54% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 5,263 | $ 5,209 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 4.91% | 5.30% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 1,337 | $ 1,343 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 5.54% | 5.70% |
Collateralized loan and other debt obligations [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 30,054 | $ 25,361 |
Weighted average yield contractual maturities, Total, available-for-sale | 2.02% | 1.83% |
Due within 1 year, Contractual maturities, available-for-sale | $ 0 | $ 23 |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 0.00% | 1.95% |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 786 | $ 944 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 0.79% | 0.71% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 12,365 | $ 8,472 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 1.91% | 1.67% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 16,903 | $ 15,922 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 2.15% | 1.99% |
Held-to-maturity securities: | ||
Amortized Cost | $ 1,405 | $ 1,404 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 2.01% | 1.96% |
Due within 1 year, Contractual maturities, held-to-maturity, cost | $ 0 | $ 0 |
Percentage of weighted average yield, Due In 1 year, held-to-maturity, cost | 0.00% | 0.00% |
Held-to-maturity Securities, Debt Maturities, after One Through Five Years, Net Carrying Amount | $ 0 | $ 0 |
Percentage of weighted average yield, Due In 1-5 years, held-to-maturity, cost | 0.00% | 0.00% |
Due in 5-10 years, Contractual maturities, held-to-maturity, cost | $ 0 | $ 0 |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 0.00% | 0.00% |
Due in 10 years or more, Contractual maturities, held-to-maturity, cost | $ 1,405 | $ 1,404 |
Percentage of weighted average yield, Due after 10 years, held-to-maturity, cost | 2.01% | 1.96% |
Held-to-maturity securities, fair value: [Abstract] | ||
Contractual maturities, Total amount, held-to-maturity, fair value | $ 1,391 | $ 1,391 |
Due within 1 year, Contractual maturities, held-to-maturity, fair value | 0 | 0 |
Due in 1-5 years, Contractual maturities, held-to-maturity, fair value | 0 | 0 |
Due in 5-10 years, Contractual maturities, held-to-maturity, fair value | 0 | 0 |
Due in 10 years or more, Contractual maturities, held-to-maturity, fair value | 1,391 | 1,391 |
Other [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 6,216 | $ 6,519 |
Weighted average yield contractual maturities, Total, available-for-sale | 1.85% | 1.79% |
Due within 1 year, Contractual maturities, available-for-sale | $ 309 | $ 274 |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 1.69% | 1.55% |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 1,191 | $ 1,452 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 2.49% | 2.56% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 999 | $ 1,020 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 1.74% | 1.32% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 3,717 | $ 3,773 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 1.68% | 1.64% |
Held-to-maturity securities: | ||
Amortized Cost | $ 3,595 | $ 5,755 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 1.61% | 1.64% |
Due within 1 year, Contractual maturities, held-to-maturity, cost | $ 0 | $ 192 |
Percentage of weighted average yield, Due In 1 year, held-to-maturity, cost | 0.00% | 1.61% |
Held-to-maturity Securities, Debt Maturities, after One Through Five Years, Net Carrying Amount | $ 2,560 | $ 4,214 |
Percentage of weighted average yield, Due In 1-5 years, held-to-maturity, cost | 1.68% | 1.72% |
Due in 5-10 years, Contractual maturities, held-to-maturity, cost | $ 1,035 | $ 1,349 |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 1.43% | 1.41% |
Due in 10 years or more, Contractual maturities, held-to-maturity, cost | $ 0 | $ 0 |
Percentage of weighted average yield, Due after 10 years, held-to-maturity, cost | 0.00% | 0.00% |
Held-to-maturity securities, fair value: [Abstract] | ||
Contractual maturities, Total amount, held-to-maturity, fair value | $ 3,612 | $ 5,790 |
Due within 1 year, Contractual maturities, held-to-maturity, fair value | 0 | 193 |
Due in 1-5 years, Contractual maturities, held-to-maturity, fair value | 2,572 | 4,239 |
Due in 5-10 years, Contractual maturities, held-to-maturity, fair value | 1,040 | 1,358 |
Due in 10 years or more, Contractual maturities, held-to-maturity, fair value | $ 0 | $ 0 |
Investment Securities, Realized
Investment Securities, Realized Gains and Losses (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Marketable Securities, Realized Gain (Loss) [Abstract] | ||||
Gross realized gains | $ 530 | $ 675 | $ 1,133 | $ 1,220 |
Gross realized losses | (21) | (4) | (57) | (9) |
OTTI write-downs | (74) | (15) | (125) | (37) |
Net realized gains from available-for-sale securities | 435 | 656 | 951 | 1,174 |
Net realized gains from nonmarketable equity investments | 632 | 309 | 1,462 | 1,241 |
Net realized gains from debt securities and equity investments | $ 1,067 | $ 965 | $ 2,413 | $ 2,415 |
Investment Securities, OTTI Inc
Investment Securities, OTTI Included in Earnings (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Schedule of Marketable Securities [Line Items] | ||||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities | $ 0 | $ 0 | ||
OTTI write-downs included in earnings (Abstract) | ||||
Total investment securities | $ 74,000,000 | $ 15,000,000 | 125,000,000 | 37,000,000 |
Nonmarketable equity investments | 66,000,000 | 40,000,000 | 183,000,000 | 235,000,000 |
Total OTTI write-downs included in earnings | 140,000,000 | 55,000,000 | 308,000,000 | 272,000,000 |
Total debt securities [Member] | ||||
OTTI write-downs included in earnings (Abstract) | ||||
Total investment securities | 73,000,000 | 15,000,000 | 123,000,000 | 35,000,000 |
Securities of U.S. states and political subdivisions [Member] | ||||
OTTI write-downs included in earnings (Abstract) | ||||
Total investment securities | 2,000,000 | 3,000,000 | 18,000,000 | 5,000,000 |
Residential [Member] | ||||
OTTI write-downs included in earnings (Abstract) | ||||
Total investment securities | 9,000,000 | 11,000,000 | 43,000,000 | 21,000,000 |
Commercial [Member] | ||||
OTTI write-downs included in earnings (Abstract) | ||||
Total investment securities | 3,000,000 | 1,000,000 | 3,000,000 | 7,000,000 |
Total marketable equity securities [Member] | ||||
OTTI write-downs included in earnings (Abstract) | ||||
Total investment securities | 1,000,000 | 0 | 2,000,000 | 2,000,000 |
Other marketable equity securities [Member] | ||||
OTTI write-downs included in earnings (Abstract) | ||||
Total investment securities | 1,000,000 | 0 | 2,000,000 | 2,000,000 |
Corporate debt securities [Member] | ||||
OTTI write-downs included in earnings (Abstract) | ||||
Total investment securities | 59,000,000 | 0 | 59,000,000 | 0 |
Collateralized Loan Obligations [Member] | ||||
OTTI write-downs included in earnings (Abstract) | ||||
Total investment securities | $ 0 | $ 0 | $ 0 | $ 2,000,000 |
Investment Securities, OTTI Deb
Investment Securities, OTTI Debt Securities (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | $ 74 | $ 15 | $ 125 | $ 37 |
Cost And Equity Method, Other Than Temporary Impairment | 66 | 40 | 183 | 235 |
Other Than Temporary Impairment Investments Portion Recognized In Earnings Net | 140 | 55 | 308 | 272 |
Total debt securities [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | 73 | 15 | 123 | 35 |
Total changes to OCI for non-credit-related OTTI | (3) | (5) | (50) | (36) |
Total OTTI losses (reversal of losses) recorded on debt securities | 70 | 10 | 73 | (1) |
Total debt securities [Member] | Credit-related OTTI [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | 70 | 14 | 109 | 30 |
Total debt securities [Member] | Intent-to-sell OTTI [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | 3 | 1 | 14 | 5 |
Securities of U.S. states and political subdivisions [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | 2 | 3 | 18 | 5 |
Total changes to OCI for non-credit-related OTTI | 0 | 1 | (1) | 2 |
Residential [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | 9 | 11 | 43 | 21 |
Total changes to OCI for non-credit-related OTTI | (6) | (6) | (37) | (19) |
Commercial Mortgage Backed Securities [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | 3 | 1 | 3 | 7 |
Total changes to OCI for non-credit-related OTTI | 2 | 0 | (13) | (19) |
Corporate debt securities [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | 59 | 0 | 59 | 0 |
Total changes to OCI for non-credit-related OTTI | 1 | 0 | 1 | 0 |
Collateralized Loan Obligations [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | 0 | 0 | 0 | 2 |
Equity Securities, Other 1 [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | 1 | 0 | 2 | 2 |
Equity Securities [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | $ 1 | $ 0 | $ 2 | $ 2 |
Investment Securities, Credit L
Investment Securities, Credit Loss Component (Details) - Total debt securities [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Schedule of Marketable Securities [Line Items] | ||||
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Additions, No Previous Impairment | $ 64 | $ 2 | $ 64 | $ 5 |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||||
Credit loss recognized, beginning of period | 993 | 1,107 | 1,025 | 1,171 |
Additions: | ||||
For securities with previous credit impairments | 6 | 12 | 45 | 25 |
Total additions | 70 | 14 | 109 | 30 |
Reductions: | ||||
For securities sold, matured, or intended/required to be sold | (23) | (87) | (89) | (156) |
For recoveries of previous credit impairments | (1) | (4) | (6) | (15) |
Total reductions | (24) | (91) | (95) | (171) |
Credit loss recognized, end of period | $ 1,039 | $ 1,030 | $ 1,039 | $ 1,030 |
Loans and Allowance for Credi58
Loans and Allowance for Credit Losses, Loans Outstanding (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Deferred Income | $ 3,800 | $ 4,500 | |
Loans | 903,233 | [1] | 862,551 |
Total Commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 447,338 | 414,826 | |
Commercial and Industrial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 292,234 | 271,795 | |
Commercial Real Estate Mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 121,252 | 111,996 | |
Commercial Real Estate Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 21,710 | 18,728 | |
Lease Financing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 12,142 | 12,307 | |
Total Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 455,895 | 447,725 | |
Real estate 1-4 family first mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 271,311 | 265,386 | |
Real estate 1-4 family junior lien mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 54,592 | 59,717 | |
Credit Card [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 32,286 | 31,119 | |
Automobile [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 59,164 | 55,740 | |
Other revolving credit and installment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 38,542 | 35,763 | |
Geographic Distribution, Foreign [Member] | Total Commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 55,717 | 50,037 | |
Geographic Distribution, Foreign [Member] | Commercial and Industrial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 46,380 | 44,707 | |
Geographic Distribution, Foreign [Member] | Commercial Real Estate Mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 8,662 | 4,776 | |
Geographic Distribution, Foreign [Member] | Commercial Real Estate Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 396 | 218 | |
Geographic Distribution, Foreign [Member] | Lease Financing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 279 | $ 336 | |
[1] | Parenthetical amounts represent assets and liabilities for which we have elected the fair value option. |
Loans and Allowance for Credi59
Loans and Allowance for Credit Losses, Significant Activity (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Loans and Allowance for Credit Losses, Significant Activity [Abstract] | ||||
Purchases | $ 1,847 | $ 1,214 | $ 12,988 | $ 3,919 |
Sales | (416) | (1,310) | (809) | (4,984) |
Transfers to MHFS/LHFS | (46) | (12) | (105) | (9,849) |
Consumer Real Estate Loans Government Guaranteed Or Insured [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable Certain Purchases Net Of Certain Transfers To Held For Sale | 145 | 807 | 1,000 | 1,000 |
Commercial Portfolio Segment [Member] | ||||
Loans and Allowance for Credit Losses, Significant Activity [Abstract] | ||||
Purchases | 1,818 | 1,214 | 12,648 | 3,751 |
Sales | (286) | (1,270) | (649) | (4,869) |
Transfers to MHFS/LHFS | (39) | (14) | (91) | (73) |
Consumer Portfolio Segment [Member] | ||||
Loans and Allowance for Credit Losses, Significant Activity [Abstract] | ||||
Purchases | 29 | 0 | 340 | 168 |
Sales | (130) | (40) | (160) | (115) |
Transfers to MHFS/LHFS | $ (7) | $ 2 | $ (14) | $ (9,776) |
Loans and Allowance for Credi60
Loans and Allowance for Credit Losses, Commitments to Lend (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Temporary Advance Arrangements | $ 75,000 | $ 87,000 |
Total unfunded credit commitments | 523,190 | 497,242 |
Commercial Letters of Credit International | 1,200 | 1,200 |
Total Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 316,341 | 299,817 |
Commercial and Industrial Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 292,137 | 278,093 |
Commercial Real Estate Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 7,387 | 6,134 |
Commercial Real Estate Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 16,817 | 15,587 |
Commercial Lease Financing Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 0 | 3 |
Total Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 206,849 | 197,425 |
Real estate 1-4 family first mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 36,411 | 32,055 |
Real estate 1-4 family junior lien mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 43,736 | 45,492 |
Credit Card [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 99,442 | 95,062 |
Other revolving credit and installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | $ 27,260 | $ 24,816 |
Loans and Allowance for Credi61
Loans and Allowance for Credit Losses, Allowance for Credit Losses (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Financing Receivable, Allowance for Credit Losses, Acquired with Deteriorated Credit Quality | $ 5 | $ 11 | $ 11 | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Allowance for credit losses, beginning balance | $ 12,614 | $ 13,834 | $ 13,169 | $ 14,971 | |||
Provision for credit losses | 703 | 368 | 1,611 | 910 | |||
Interest income on certain impaired loans | (48) | (52) | (150) | (163) | |||
Loan charge-offs | (1,095) | (1,133) | (3,232) | (3,578) | |||
Loan recoveries | 392 | 465 | 1,171 | 1,368 | |||
Net loan charge-offs | (703) | (668) | (2,061) | (2,210) | |||
Allowances related to business combinations/other | (4) | (1) | (7) | (27) | |||
Allowance for credit losses, ending balance | 12,562 | 13,481 | 12,562 | 13,481 | |||
Components: | |||||||
Allowance for loan losses | 11,659 | 12,319 | 12,681 | ||||
Allowance for unfunded credit commitments | 903 | 800 | |||||
Total allowance for credit losses | $ 12,614 | $ 13,834 | $ 13,169 | $ 14,971 | $ 12,562 | 13,169 | $ 13,481 |
Net loan charge-offs (annualized) as a percentage of average total loans | 0.31% | 0.32% | 0.31% | 0.36% | |||
Allowance for loan losses as a percentage of total loans | 1.29% | 1.51% | |||||
Allowance for credit losses as a percentage of total loans | 1.39% | 1.61% | |||||
Total Commercial [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Financing Receivable, Allowance for Credit Losses, Acquired with Deteriorated Credit Quality | $ 5 | 11 | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Allowance for credit losses, beginning balance | $ 6,279 | $ 6,400 | $ 6,377 | $ 6,103 | |||
Provision for credit losses | 348 | (9) | 368 | 337 | |||
Interest income on certain impaired loans | (3) | (5) | (12) | (17) | |||
Loan charge-offs | (186) | (176) | (520) | (532) | |||
Loan recoveries | 92 | 200 | 320 | 520 | |||
Net loan charge-offs | (94) | 24 | (200) | (12) | |||
Allowances related to business combinations/other | (4) | (1) | (7) | (2) | |||
Allowance for credit losses, ending balance | 6,526 | 6,409 | 6,526 | 6,409 | |||
Components: | |||||||
Total allowance for credit losses | 6,279 | 6,400 | 6,377 | 6,103 | 6,526 | 6,377 | $ 6,409 |
Commercial and Industrial Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | (172) | (157) | (459) | (466) | |||
Loan recoveries | 50 | 90 | 192 | 290 | |||
Commercial Real Estate Mortgage [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | (9) | (11) | (48) | (47) | |||
Loan recoveries | 32 | 48 | 97 | 116 | |||
Commercial Real Estate Construction [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | 0 | (3) | (2) | (7) | |||
Loan recoveries | 8 | 61 | 25 | 108 | |||
Lease Financing [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | (5) | (5) | (11) | (12) | |||
Loan recoveries | 2 | 1 | 6 | 6 | |||
Total Consumer [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Financing Receivable, Allowance for Credit Losses, Acquired with Deteriorated Credit Quality | 0 | 0 | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Allowance for credit losses, beginning balance | 6,335 | 7,434 | 6,792 | 8,868 | |||
Provision for credit losses | 355 | 377 | 1,243 | 573 | |||
Interest income on certain impaired loans | (45) | (47) | (138) | (146) | |||
Loan charge-offs | (909) | (957) | (2,712) | (3,046) | |||
Loan recoveries | 300 | 265 | 851 | 848 | |||
Net loan charge-offs | (609) | (692) | (1,861) | (2,198) | |||
Allowances related to business combinations/other | 0 | 0 | 0 | (25) | |||
Allowance for credit losses, ending balance | 6,036 | 7,072 | 6,036 | 7,072 | |||
Components: | |||||||
Total allowance for credit losses | 6,335 | 7,434 | 6,792 | 8,868 | $ 6,036 | $ 6,792 | $ 7,072 |
Real estate 1-4 family first mortgage [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | (145) | (167) | (394) | (583) | |||
Loan recoveries | 83 | 53 | 182 | 162 | |||
Real estate 1-4 family junior lien mortgage [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | (159) | (202) | (501) | (671) | |||
Loan recoveries | 70 | 62 | 195 | 179 | |||
Credit Card [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | (259) | (236) | (821) | (769) | |||
Loan recoveries | 43 | 35 | 123 | 126 | |||
Automobile [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | (186) | (192) | (531) | (515) | |||
Loan recoveries | 73 | 80 | 249 | 267 | |||
Other revolving credit and installment [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | (160) | (160) | (465) | (508) | |||
Loan recoveries | $ 31 | $ 35 | $ 102 | $ 114 |
Loans and Allowance for Credi62
Loans and Allowance for Credit Losses, Allowance for Credit Losses by Category (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Allowance for credit losses, beginning balance | $ 12,614 | $ 13,834 | $ 13,169 | $ 14,971 |
Provision for credit losses | 703 | 368 | 1,611 | 910 |
Interest income on certain impaired loans | (48) | (52) | (150) | (163) |
Loan charge-offs | (1,095) | (1,133) | (3,232) | (3,578) |
Loan recoveries | 392 | 465 | 1,171 | 1,368 |
Net loan charge-offs | (703) | (668) | (2,061) | (2,210) |
Allowance related to business combinations/other | (4) | (1) | (7) | (27) |
Allowance for credit losses, ending balance | 12,562 | 13,481 | 12,562 | 13,481 |
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Allowance for credit losses, beginning balance | 6,279 | 6,400 | 6,377 | 6,103 |
Provision for credit losses | 348 | (9) | 368 | 337 |
Interest income on certain impaired loans | (3) | (5) | (12) | (17) |
Loan charge-offs | (186) | (176) | (520) | (532) |
Loan recoveries | 92 | 200 | 320 | 520 |
Net loan charge-offs | (94) | 24 | (200) | (12) |
Allowance related to business combinations/other | (4) | (1) | (7) | (2) |
Allowance for credit losses, ending balance | 6,526 | 6,409 | 6,526 | 6,409 |
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Allowance for credit losses, beginning balance | 6,335 | 7,434 | 6,792 | 8,868 |
Provision for credit losses | 355 | 377 | 1,243 | 573 |
Interest income on certain impaired loans | (45) | (47) | (138) | (146) |
Loan charge-offs | (909) | (957) | (2,712) | (3,046) |
Loan recoveries | 300 | 265 | 851 | 848 |
Net loan charge-offs | (609) | (692) | (1,861) | (2,198) |
Allowance related to business combinations/other | 0 | 0 | 0 | (25) |
Allowance for credit losses, ending balance | $ 6,036 | $ 7,072 | $ 6,036 | $ 7,072 |
Loans and Allowance for Credi63
Loans and Allowance for Credit Losses, Loans by Credit Impairment Methodology (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2008 | |
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | ||||||||
Allowance for Credit Losses, Collectively evaluated | $ 9,448 | $ 9,188 | ||||||
Allowance for Credit Losses, Individually evaluated | 3,109 | 3,970 | ||||||
Allowance for credit losses, PCI loans | 5 | 11 | $ 11 | |||||
Total allowance for credit losses | 12,562 | $ 12,614 | 13,169 | 13,481 | $ 13,834 | $ 14,971 | ||
Financing Receivable, Collectively evaluated | 858,357 | 813,823 | ||||||
Financing Receivable, Individually evaluated | 24,139 | 25,408 | ||||||
Purchased Credit Impaired Loans | 20,737 | 23,320 | ||||||
Loans | 903,233 | [1] | 862,551 | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 11,537 | 12,848 | ||||||
Commercial Portfolio Segment [Member] | ||||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | ||||||||
Allowance for Credit Losses, Collectively evaluated | 5,802 | 5,482 | ||||||
Allowance for Credit Losses, Individually evaluated | 719 | 884 | ||||||
Allowance for credit losses, PCI loans | 5 | 11 | ||||||
Total allowance for credit losses | 6,526 | 6,279 | 6,377 | 6,409 | 6,400 | 6,103 | ||
Financing Receivable, Collectively evaluated | 442,865 | 409,560 | ||||||
Financing Receivable, Individually evaluated | 3,696 | 3,759 | ||||||
Purchased Credit Impaired Loans | 777 | 1,507 | $ 18,700 | |||||
Loans | 447,338 | 414,826 | ||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,336 | 2,239 | ||||||
Consumer Portfolio Segment [Member] | ||||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | ||||||||
Allowance for Credit Losses, Collectively evaluated | 3,646 | 3,706 | ||||||
Allowance for Credit Losses, Individually evaluated | 2,390 | 3,086 | ||||||
Allowance for credit losses, PCI loans | 0 | 0 | ||||||
Total allowance for credit losses | 6,036 | $ 6,335 | 6,792 | $ 7,072 | $ 7,434 | $ 8,868 | ||
Financing Receivable, Collectively evaluated | 415,492 | 404,263 | ||||||
Financing Receivable, Individually evaluated | 20,443 | 21,649 | ||||||
Purchased Credit Impaired Loans | 19,960 | 21,813 | $ 40,100 | |||||
Loans | 455,895 | 447,725 | ||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 9,201 | $ 10,609 | ||||||
Criticized [Member] | Commercial Real Estate Mortgage and Construction Loans [Member] | ||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||
Loans and Leases Receivable, Other, Net of Deferred Income | 7,900 | |||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | ||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 1,300 | |||||||
[1] | Parenthetical amounts represent assets and liabilities for which we have elected the fair value option. |
Loans and Allowance for Credi64
Loans and Allowance for Credit Losses, Loans by Credit Quality Indicator, Commercial (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2008 | |
Loans and Leases Receivable Disclosure [Abstract] | ||||
Purchased Credit Impaired Loans | $ 20,737 | $ 23,320 | ||
Loans | 903,233 | [1] | 862,551 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 11,537 | 12,848 | ||
Commercial Real Estate Mortgage and Construction Loans [Member] | Criticized [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 7,900 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,300 | |||
Total Commercial [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Purchased Credit Impaired Loans | 777 | 1,507 | $ 18,700 | |
Loans | 447,338 | 414,826 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,336 | 2,239 | ||
Commercial and Industrial Loans [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Purchased Credit Impaired Loans | 71 | 75 | ||
Loans | 292,234 | 271,795 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,031 | 538 | ||
Commercial Real Estate Mortgage [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Purchased Credit Impaired Loans | 606 | 1,261 | ||
Loans | 121,252 | 111,996 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,125 | 1,490 | ||
Commercial Real Estate Construction [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Purchased Credit Impaired Loans | 100 | 171 | ||
Loans | 21,710 | 18,728 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 151 | 187 | ||
Lease Financing [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Purchased Credit Impaired Loans | 0 | 0 | ||
Loans | 12,142 | 12,307 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 29 | 24 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Commercial [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 446,561 | 413,319 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,336 | 2,239 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Commercial [Member] | Pass [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 420,618 | 388,314 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Commercial [Member] | Criticized [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 25,943 | 25,005 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial and Industrial Loans [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 292,163 | 271,720 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,031 | 538 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial and Industrial Loans [Member] | Pass [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 274,581 | 255,611 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial and Industrial Loans [Member] | Criticized [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 17,582 | 16,109 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial Real Estate Mortgage [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 120,646 | 110,735 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,125 | 1,490 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial Real Estate Mortgage [Member] | Pass [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 113,436 | 103,319 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial Real Estate Mortgage [Member] | Criticized [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 7,210 | 7,416 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial Real Estate Construction [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 21,610 | 18,557 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 151 | 187 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial Real Estate Construction [Member] | Pass [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 20,956 | 17,661 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial Real Estate Construction [Member] | Criticized [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 654 | 896 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Lease Financing [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 12,142 | 12,307 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 29 | 24 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Lease Financing [Member] | Pass [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 11,645 | 11,723 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Lease Financing [Member] | Criticized [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | $ 497 | $ 584 | ||
[1] | Parenthetical amounts represent assets and liabilities for which we have elected the fair value option. |
Loans and Allowance for Credi65
Loans and Allowance for Credit Losses, Loans by Delinquency Status, Commercial (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2008 | |
By delinquency status: | ||||
Over 90 DPD and still accruing | $ 14,405 | $ 17,810 | ||
Nonaccrual loans | 11,537 | 12,848 | ||
Purchased Credit Impaired Loans | 20,737 | 23,320 | ||
Loans | 903,233 | [1] | 862,551 | |
Total Commercial [Member] | ||||
By delinquency status: | ||||
Nonaccrual loans | 2,336 | 2,239 | ||
Purchased Credit Impaired Loans | 777 | 1,507 | $ 18,700 | |
Loans | 447,338 | 414,826 | ||
Commercial and Industrial Loans [Member] | ||||
By delinquency status: | ||||
Nonaccrual loans | 1,031 | 538 | ||
Purchased Credit Impaired Loans | 71 | 75 | ||
Loans | 292,234 | 271,795 | ||
Commercial Real Estate Mortgage [Member] | ||||
By delinquency status: | ||||
Nonaccrual loans | 1,125 | 1,490 | ||
Purchased Credit Impaired Loans | 606 | 1,261 | ||
Loans | 121,252 | 111,996 | ||
Commercial Real Estate Construction [Member] | ||||
By delinquency status: | ||||
Nonaccrual loans | 151 | 187 | ||
Purchased Credit Impaired Loans | 100 | 171 | ||
Loans | 21,710 | 18,728 | ||
Lease Financing [Member] | ||||
By delinquency status: | ||||
Nonaccrual loans | 29 | 24 | ||
Purchased Credit Impaired Loans | 0 | 0 | ||
Loans | 12,142 | 12,307 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Commercial [Member] | ||||
By delinquency status: | ||||
Current-29 DPD and still accruing | 443,350 | 410,252 | ||
30-89 DPD and still accruing | 798 | 781 | ||
Over 90 DPD and still accruing | 77 | 47 | ||
Nonaccrual loans | 2,336 | 2,239 | ||
Loans, excluding Purchased Credit Impaired Loans | 446,561 | 413,319 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial and Industrial Loans [Member] | ||||
By delinquency status: | ||||
Current-29 DPD and still accruing | 290,597 | 270,624 | ||
30-89 DPD and still accruing | 482 | 527 | ||
Over 90 DPD and still accruing | 53 | 31 | ||
Nonaccrual loans | 1,031 | 538 | ||
Loans, excluding Purchased Credit Impaired Loans | 292,163 | 271,720 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial Real Estate Mortgage [Member] | ||||
By delinquency status: | ||||
Current-29 DPD and still accruing | 119,250 | 109,032 | ||
30-89 DPD and still accruing | 247 | 197 | ||
Over 90 DPD and still accruing | 24 | 16 | ||
Nonaccrual loans | 1,125 | 1,490 | ||
Loans, excluding Purchased Credit Impaired Loans | 120,646 | 110,735 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial Real Estate Construction [Member] | ||||
By delinquency status: | ||||
Current-29 DPD and still accruing | 21,419 | 18,345 | ||
30-89 DPD and still accruing | 40 | 25 | ||
Over 90 DPD and still accruing | 0 | 0 | ||
Nonaccrual loans | 151 | 187 | ||
Loans, excluding Purchased Credit Impaired Loans | 21,610 | 18,557 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Lease Financing [Member] | ||||
By delinquency status: | ||||
Current-29 DPD and still accruing | 12,084 | 12,251 | ||
30-89 DPD and still accruing | 29 | 32 | ||
Over 90 DPD and still accruing | 0 | 0 | ||
Nonaccrual loans | 29 | 24 | ||
Loans, excluding Purchased Credit Impaired Loans | $ 12,142 | $ 12,307 | ||
[1] | Parenthetical amounts represent assets and liabilities for which we have elected the fair value option. |
Loans and Allowance for Credi66
Loans and Allowance for Credit Losses, Loans by Delinquency Status, Consumer (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2008 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
90 days or more past due and still accruing | $ 14,405 | $ 17,810 | ||
By delinquency status: | ||||
Purchased Credit Impaired Loans | 20,737 | 23,320 | ||
Loans | 903,233 | [1] | 862,551 | |
Consumer Real Estate Loans Government Guaranteed Or Insured [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
90 days or more past due and still accruing | 13,500 | 16,827 | ||
Total Consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
90 days or more past due and still accruing | 795 | 873 | ||
By delinquency status: | ||||
Purchased Credit Impaired Loans | 19,960 | 21,813 | $ 40,100 | |
Loans | 455,895 | 447,725 | ||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | $ 5,600 | $ 6,700 | ||
Real estate 1-4 family first mortgage [Member] | ||||
By delinquency status: | ||||
Financing Receivables Equal To Or Greater Than 180 Days Past Due Percentage Of Portfolio | 1.40% | 1.70% | ||
Purchased Credit Impaired Loans | $ 19,885 | $ 21,712 | ||
Loans | 271,311 | 265,386 | ||
Real estate 1-4 family junior lien mortgage [Member] | ||||
By delinquency status: | ||||
Purchased Credit Impaired Loans | 75 | 101 | ||
Loans | 54,592 | 59,717 | ||
Credit Card [Member] | ||||
By delinquency status: | ||||
Purchased Credit Impaired Loans | 0 | 0 | ||
Loans | 32,286 | 31,119 | ||
Automobile [Member] | ||||
By delinquency status: | ||||
Purchased Credit Impaired Loans | 0 | 0 | ||
Loans | 59,164 | 55,740 | ||
Other revolving credit and installment [Member] | ||||
By delinquency status: | ||||
Purchased Credit Impaired Loans | 0 | 0 | ||
Loans | 38,542 | 35,763 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Consumer [Member] | ||||
By delinquency status: | ||||
Current-29 DPD | 402,151 | 386,901 | ||
30-59 DPD | 3,953 | 4,288 | ||
60-89 DPD | 1,486 | 1,719 | ||
90-119 DPD | 798 | 942 | ||
120-179 DPD | 831 | 1,057 | ||
180 or more DPD | 3,953 | 4,737 | ||
Government insured/guaranteed loans | 22,763 | 26,268 | ||
Loans, excluding Purchased Credit Impaired Loans | 435,935 | 425,912 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By delinquency status: | ||||
Current-29 DPD | 221,267 | 208,642 | ||
30-59 DPD | 2,209 | 2,415 | ||
60-89 DPD | 811 | 993 | ||
90-119 DPD | 392 | 488 | ||
120-179 DPD | 448 | 610 | ||
180 or more DPD | 3,536 | 4,258 | ||
Government insured/guaranteed loans | 22,763 | 26,268 | ||
Loans, excluding Purchased Credit Impaired Loans | 251,426 | 243,674 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By delinquency status: | ||||
Current-29 DPD | 53,329 | 58,182 | ||
30-59 DPD | 344 | 398 | ||
60-89 DPD | 181 | 220 | ||
90-119 DPD | 115 | 158 | ||
120-179 DPD | 145 | 194 | ||
180 or more DPD | 403 | 464 | ||
Government insured/guaranteed loans | 0 | 0 | ||
Loans, excluding Purchased Credit Impaired Loans | 54,517 | 59,616 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Credit Card [Member] | ||||
By delinquency status: | ||||
Current-29 DPD | 31,519 | 30,356 | ||
30-59 DPD | 249 | 239 | ||
60-89 DPD | 165 | 160 | ||
90-119 DPD | 136 | 136 | ||
120-179 DPD | 216 | 227 | ||
180 or more DPD | 1 | 1 | ||
Government insured/guaranteed loans | 0 | 0 | ||
Loans, excluding Purchased Credit Impaired Loans | 32,286 | 31,119 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Automobile [Member] | ||||
By delinquency status: | ||||
Current-29 DPD | 57,880 | 54,365 | ||
30-59 DPD | 989 | 1,056 | ||
60-89 DPD | 220 | 235 | ||
90-119 DPD | 71 | 78 | ||
120-179 DPD | 4 | 5 | ||
180 or more DPD | 0 | 1 | ||
Government insured/guaranteed loans | 0 | 0 | ||
Loans, excluding Purchased Credit Impaired Loans | 59,164 | 55,740 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Other revolving credit and installment [Member] | ||||
By delinquency status: | ||||
Current-29 DPD | 38,156 | 35,356 | ||
30-59 DPD | 162 | 180 | ||
60-89 DPD | 109 | 111 | ||
90-119 DPD | 84 | 82 | ||
120-179 DPD | 18 | 21 | ||
180 or more DPD | 13 | 13 | ||
Government insured/guaranteed loans | 0 | 0 | ||
Loans, excluding Purchased Credit Impaired Loans | 38,542 | 35,763 | ||
Financing Receivable 90 Days Or More Past Due [Member] | Consumer Real Estate Loans Government Guaranteed Or Insured [Member] | ||||
By delinquency status: | ||||
Government insured/guaranteed loans | $ 12,600 | $ 16,200 | ||
[1] | Parenthetical amounts represent assets and liabilities for which we have elected the fair value option. |
Loans and Allowance for Credi67
Loans and Allowance for Credit Losses, Loans by FICO Score, Consumer (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2008 | |
By updated FICO: | ||||
Purchased Credit Impaired Loans (carrying value) | $ 20,737 | $ 23,320 | ||
Loans | 903,233 | [1] | 862,551 | |
Total Consumer [Member] | ||||
By updated FICO: | ||||
Purchased Credit Impaired Loans (carrying value) | 19,960 | 21,813 | $ 40,100 | |
Loans | 455,895 | 447,725 | ||
Real estate 1-4 family first mortgage [Member] | ||||
By updated FICO: | ||||
Purchased Credit Impaired Loans (carrying value) | 19,885 | 21,712 | ||
Loans | 271,311 | 265,386 | ||
Real estate 1-4 family junior lien mortgage [Member] | ||||
By updated FICO: | ||||
Purchased Credit Impaired Loans (carrying value) | 75 | 101 | ||
Loans | 54,592 | 59,717 | ||
Credit Card [Member] | ||||
By updated FICO: | ||||
Purchased Credit Impaired Loans (carrying value) | 0 | 0 | ||
Loans | 32,286 | 31,119 | ||
Automobile [Member] | ||||
By updated FICO: | ||||
Purchased Credit Impaired Loans (carrying value) | 0 | 0 | ||
Loans | 59,164 | 55,740 | ||
Other revolving credit and installment [Member] | ||||
By updated FICO: | ||||
Purchased Credit Impaired Loans (carrying value) | 0 | 0 | ||
Loans | 38,542 | 35,763 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Consumer [Member] | ||||
By updated FICO: | ||||
Less than 600 | 25,284 | 27,525 | ||
600-639 | 20,156 | 20,542 | ||
640-679 | 35,690 | 35,867 | ||
680-719 | 54,661 | 54,050 | ||
720-759 | 69,239 | 67,439 | ||
760-799 | 129,841 | 120,242 | ||
800 and greater | 64,139 | 61,561 | ||
No FICO available | 7,435 | 6,564 | ||
FICO not required | 6,727 | 5,854 | ||
Government insured/guaranteed loans | 22,763 | 26,268 | ||
Loans, excluding Purchased Credit Impaired Loans | 435,935 | 425,912 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By updated FICO: | ||||
Less than 600 | 9,459 | 11,166 | ||
600-639 | 7,210 | 7,866 | ||
640-679 | 13,416 | 13,894 | ||
680-719 | 24,678 | 24,412 | ||
720-759 | 37,147 | 35,490 | ||
760-799 | 91,670 | 82,123 | ||
800 and greater | 41,613 | 39,219 | ||
No FICO available | 3,470 | 3,236 | ||
FICO not required | 0 | 0 | ||
Government insured/guaranteed loans | 22,763 | 26,268 | ||
Loans, excluding Purchased Credit Impaired Loans | 251,426 | 243,674 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By updated FICO: | ||||
Less than 600 | 3,163 | 4,001 | ||
600-639 | 2,484 | 2,794 | ||
640-679 | 4,806 | 5,324 | ||
680-719 | 8,176 | 8,970 | ||
720-759 | 11,327 | 12,171 | ||
760-799 | 16,802 | 17,897 | ||
800 and greater | 6,892 | 7,581 | ||
No FICO available | 867 | 878 | ||
FICO not required | 0 | 0 | ||
Government insured/guaranteed loans | 0 | 0 | ||
Loans, excluding Purchased Credit Impaired Loans | 54,517 | 59,616 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Credit Card [Member] | ||||
By updated FICO: | ||||
Less than 600 | 2,799 | 2,639 | ||
600-639 | 2,760 | 2,588 | ||
640-679 | 5,128 | 4,931 | ||
680-719 | 6,540 | 6,285 | ||
720-759 | 6,673 | 6,407 | ||
760-799 | 5,386 | 5,234 | ||
800 and greater | 2,767 | 2,758 | ||
No FICO available | 233 | 277 | ||
FICO not required | 0 | 0 | ||
Government insured/guaranteed loans | 0 | 0 | ||
Loans, excluding Purchased Credit Impaired Loans | 32,286 | 31,119 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Automobile [Member] | ||||
By updated FICO: | ||||
Less than 600 | 8,945 | 8,825 | ||
600-639 | 6,633 | 6,236 | ||
640-679 | 10,003 | 9,352 | ||
680-719 | 10,871 | 9,994 | ||
720-759 | 8,149 | 7,475 | ||
760-799 | 7,687 | 7,315 | ||
800 and greater | 6,461 | 6,184 | ||
No FICO available | 415 | 359 | ||
FICO not required | 0 | 0 | ||
Government insured/guaranteed loans | 0 | 0 | ||
Loans, excluding Purchased Credit Impaired Loans | 59,164 | 55,740 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Other revolving credit and installment [Member] | ||||
By updated FICO: | ||||
Less than 600 | 918 | 894 | ||
600-639 | 1,069 | 1,058 | ||
640-679 | 2,337 | 2,366 | ||
680-719 | 4,396 | 4,389 | ||
720-759 | 5,943 | 5,896 | ||
760-799 | 8,296 | 7,673 | ||
800 and greater | 6,406 | 5,819 | ||
No FICO available | 2,450 | 1,814 | ||
FICO not required | 6,727 | 5,854 | ||
Government insured/guaranteed loans | 0 | 0 | ||
Loans, excluding Purchased Credit Impaired Loans | $ 38,542 | $ 35,763 | ||
[1] | Parenthetical amounts represent assets and liabilities for which we have elected the fair value option. |
Loans and Allowance for Credi68
Loans and Allowance for Credit Losses, Loans by Loan to Value Ratio, Consumer (Details) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
High Value Properties, Threshold | $ 1,000,000 | ||
By LTV/CLTV: | |||
Purchased Credit Impaired Loans (carrying value) | 20,737,000,000 | $ 23,320,000,000 | |
Loans | 903,233,000,000 | [1] | 862,551,000,000 |
Nonaccrual loans | 11,537,000,000 | 12,848,000,000 | |
Residential Mortgage [Member] | |||
By LTV/CLTV: | |||
Purchased Credit Impaired Loans (carrying value) | 19,960,000,000 | 21,813,000,000 | |
Loans | 325,903,000,000 | 325,103,000,000 | |
Residential Mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
0-60% | 123,866,000,000 | 111,322,000,000 | |
60.01-80% | 106,358,000,000 | 103,763,000,000 | |
80.01-100% | 34,570,000,000 | 39,174,000,000 | |
100.01-120% | 10,421,000,000 | 13,387,000,000 | |
Greater than 120% | 5,337,000,000 | 6,914,000,000 | |
No LTV/CLTV available | 2,628,000,000 | 2,462,000,000 | |
Government insured/guaranteed loans | 22,763,000,000 | 26,268,000,000 | |
Loans, excluding Purchased Credit Impaired Loans | 305,943,000,000 | 303,290,000,000 | |
Real estate 1-4 family first mortgage [Member] | |||
By LTV/CLTV: | |||
Purchased Credit Impaired Loans (carrying value) | 19,885,000,000 | 21,712,000,000 | |
Loans | 271,311,000,000 | 265,386,000,000 | |
Nonaccrual loans | 7,425,000,000 | 8,583,000,000 | |
Real estate 1-4 family first mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
0-60% | 108,005,000,000 | 95,719,000,000 | |
60.01-80% | 89,604,000,000 | 86,112,000,000 | |
80.01-100% | 22,671,000,000 | 25,170,000,000 | |
100.01-120% | 4,604,000,000 | 6,133,000,000 | |
Greater than 120% | 2,182,000,000 | 2,856,000,000 | |
No LTV/CLTV available | 1,597,000,000 | 1,416,000,000 | |
Government insured/guaranteed loans | 22,763,000,000 | 26,268,000,000 | |
Loans, excluding Purchased Credit Impaired Loans | 251,426,000,000 | 243,674,000,000 | |
Real estate 1-4 family junior lien mortgage [Member] | |||
By LTV/CLTV: | |||
Purchased Credit Impaired Loans (carrying value) | 75,000,000 | 101,000,000 | |
Loans | 54,592,000,000 | 59,717,000,000 | |
Nonaccrual loans | 1,612,000,000 | 1,848,000,000 | |
Real estate 1-4 family junior lien mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
0-60% | 15,861,000,000 | 15,603,000,000 | |
60.01-80% | 16,754,000,000 | 17,651,000,000 | |
80.01-100% | 11,899,000,000 | 14,004,000,000 | |
100.01-120% | 5,817,000,000 | 7,254,000,000 | |
Greater than 120% | 3,155,000,000 | 4,058,000,000 | |
No LTV/CLTV available | 1,031,000,000 | 1,046,000,000 | |
Government insured/guaranteed loans | 0 | 0 | |
Loans, excluding Purchased Credit Impaired Loans | $ 54,517,000,000 | $ 59,616,000,000 | |
[1] | Parenthetical amounts represent assets and liabilities for which we have elected the fair value option. |
Loans and Allowance for Credi69
Loans and Allowance for Credit Losses, Nonaccrual (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | $ 11,537 | $ 12,848 |
Total Commercial [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 2,336 | 2,239 |
Commercial and Industrial Loans [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 1,031 | 538 |
Commercial Real Estate Mortgage [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 1,125 | 1,490 |
Commercial Real Estate Construction [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 151 | 187 |
Lease Financing [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 29 | 24 |
Total Consumer [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 9,201 | 10,609 |
Real estate 1-4 family first mortgage [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 7,425 | 8,583 |
Real estate 1-4 family junior lien mortgage [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 1,612 | 1,848 |
Automobile [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 123 | 137 |
Other revolving credit and installment [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 41 | 41 |
Loans held for sale [Member] | Total Commercial [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 0 | 1 |
Mortgages held for sale [Member] | Real estate 1-4 family first mortgage [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 96 | 177 |
In Process Of Foreclosure [Member] | ||
Nonaccrual Loans [Abstract] | ||
Recorded Investment Amount In Consumer Mortgage Loans Collateralized By Residential Real Estate Property | 11,800 | 12,700 |
In Process Of Foreclosure [Member] | Consumer Real Estate Loans Government Guaranteed Or Insured [Member] | ||
Nonaccrual Loans [Abstract] | ||
Recorded Investment Amount In Consumer Mortgage Loans Collateralized By Residential Real Estate Property | $ 6,400 | $ 6,600 |
Loans and Allowance for Credi70
Loans and Allowance for Credit Losses, 90 Days or More Past Due and Still Accruing (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | |
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | $ 14,405 | $ 17,810 |
Consumer Loans Exempt Under Regulatory Rules [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Threshold Period Past Due For Nonperforming Status Of Financing Receivables | 120 days | |
FHA Insured/VA Guaranteed [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | $ 13,500 | 16,827 |
Student Loans guaranteed under FFELP [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | $ 33 | 63 |
Total Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Threshold Period Past Due For Nonperforming Status Of Financing Receivables | 90 days | |
Total Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Threshold Period Past Due For Nonperforming Status Of Financing Receivables | 60 days | |
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | $ 795 | 873 |
Total, not government insured/guaranteed [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 872 | 920 |
Total, not government insured/guaranteed [Member] | Total Commercial [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 77 | 47 |
Total, not government insured/guaranteed [Member] | Commercial and Industrial Loans [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 53 | 31 |
Total, not government insured/guaranteed [Member] | Commercial Real Estate Mortgage [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 24 | 16 |
Total, not government insured/guaranteed [Member] | Commercial Real Estate Construction [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 0 | 0 |
Total, not government insured/guaranteed [Member] | Total Consumer [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 795 | 873 |
Total, not government insured/guaranteed [Member] | Real estate 1-4 family first mortgage [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 216 | 260 |
Total, not government insured/guaranteed [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 61 | 83 |
Total, not government insured/guaranteed [Member] | Credit Card [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 353 | 364 |
Total, not government insured/guaranteed [Member] | Automobile [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 66 | 73 |
Total, not government insured/guaranteed [Member] | Other revolving credit and installment [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 99 | 93 |
Financing Receivable Acquired With Deteriorated Credit Quality [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 3,200 | 3,700 |
Financing Receivable Acquired With Deteriorated Credit Quality [Member] | Total Commercial [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 62 | 83 |
Financing Receivable Acquired With Deteriorated Credit Quality [Member] | Commercial and Industrial Loans [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 0 | 0 |
Financing Receivable Acquired With Deteriorated Credit Quality [Member] | Commercial Real Estate Mortgage [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 61 | 78 |
Financing Receivable Acquired With Deteriorated Credit Quality [Member] | Commercial Real Estate Construction [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | $ 1 | $ 5 |
Loans and Allowance for Credi71
Loans and Allowance for Credit Losses, Impaired Loans (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Impaired Loans [Abstract] | ||
Unpaid principal balance | $ 28,453 | $ 30,244 |
Impaired loans | 24,139 | 25,408 |
Impaired loans with related allowance for credit losses | 17,081 | 18,366 |
Related allowance for credit losses | 3,109 | 3,970 |
Loans and Leases Receivable, Impaired, Commitment to Lend | 330 | 341 |
Total Commercial [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 5,098 | 5,238 |
Impaired loans | 3,696 | 3,759 |
Impaired loans with related allowance for credit losses | 3,384 | 3,489 |
Related allowance for credit losses | 719 | 884 |
Commercial and Industrial Loans [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 2,090 | 1,524 |
Impaired loans | 1,416 | 926 |
Impaired loans with related allowance for credit losses | 1,209 | 757 |
Related allowance for credit losses | 252 | 240 |
Commercial Real Estate Mortgage [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 2,623 | 3,190 |
Impaired loans | 2,036 | 2,483 |
Impaired loans with related allowance for credit losses | 1,950 | 2,405 |
Related allowance for credit losses | 415 | 591 |
Commercial Real Estate Construction [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 343 | 491 |
Impaired loans | 214 | 331 |
Impaired loans with related allowance for credit losses | 195 | 308 |
Related allowance for credit losses | 44 | 45 |
Lease Financing [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 42 | 33 |
Impaired loans | 30 | 19 |
Impaired loans with related allowance for credit losses | 30 | 19 |
Related allowance for credit losses | 8 | 8 |
Total Consumer [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 23,355 | 25,006 |
Impaired loans | 20,443 | 21,649 |
Impaired loans with related allowance for credit losses | 13,697 | 14,877 |
Related allowance for credit losses | 2,390 | 3,086 |
Real estate 1-4 family first mortgage [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 20,055 | 21,324 |
Impaired loans | 17,508 | 18,600 |
Impaired loans with related allowance for credit losses | 11,393 | 12,433 |
Related allowance for credit losses | 1,816 | 2,322 |
Real estate 1-4 family junior lien mortgage [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 2,743 | 3,094 |
Impaired loans | 2,450 | 2,534 |
Impaired loans with related allowance for credit losses | 1,894 | 2,009 |
Related allowance for credit losses | 464 | 653 |
Credit Card [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 307 | 338 |
Impaired loans | 307 | 338 |
Impaired loans with related allowance for credit losses | 307 | 338 |
Related allowance for credit losses | 95 | 98 |
Automobile [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 174 | 190 |
Impaired loans | 109 | 127 |
Impaired loans with related allowance for credit losses | 41 | 55 |
Related allowance for credit losses | 6 | 8 |
Other revolving credit and installment [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 76 | 60 |
Impaired loans | 69 | 50 |
Impaired loans with related allowance for credit losses | 62 | 42 |
Related allowance for credit losses | 9 | 5 |
Trial modifications [Member] | ||
Impaired Loans [Abstract] | ||
Impaired loans | 421 | 452 |
Impaired Loans [Member] | Consumer Real Estate Loans Government Guaranteed Or Insured [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Government insured/guaranteed loans | $ 1,800 | $ 2,100 |
Loans and Allowance for Credi72
Loans and Allowance for Credit Losses, Impaired Loans, Average Recorded Investment and Interest Income (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | $ 24,485 | $ 26,582 | $ 24,753 | $ 26,811 |
Recognized interest income | 341 | 356 | 1,038 | 1,057 |
Interest income: | ||||
Cash basis of accounting | 104 | 115 | 323 | 314 |
Other | 237 | 241 | 715 | 743 |
Total Commercial [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 3,775 | 4,371 | 3,633 | 4,714 |
Recognized interest income | 62 | 72 | 194 | 190 |
Commercial and Industrial Loans [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 1,407 | 1,082 | 1,108 | 1,156 |
Recognized interest income | 21 | 22 | 64 | 60 |
Commercial Real Estate Mortgage [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 2,109 | 2,856 | 2,241 | 3,043 |
Recognized interest income | 34 | 42 | 108 | 107 |
Commercial Real Estate Construction [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 232 | 407 | 260 | 485 |
Recognized interest income | 7 | 7 | 22 | 22 |
Lease Financing [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 27 | 26 | 24 | 30 |
Recognized interest income | 0 | 1 | 0 | 1 |
Total Consumer [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 20,710 | 22,211 | 21,120 | 22,097 |
Recognized interest income | 279 | 284 | 844 | 867 |
Real estate 1-4 family first mortgage [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 17,761 | 19,104 | 18,125 | 18,954 |
Recognized interest income | 231 | 232 | 697 | 707 |
Real estate 1-4 family junior lien mortgage [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 2,467 | 2,555 | 2,499 | 2,552 |
Recognized interest income | 34 | 36 | 103 | 107 |
Credit Card [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 310 | 367 | 321 | 392 |
Recognized interest income | 10 | 11 | 30 | 35 |
Automobile [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 111 | 144 | 118 | 161 |
Recognized interest income | 3 | 4 | 11 | 15 |
Other revolving credit and installment [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 61 | 41 | 57 | 38 |
Recognized interest income | $ 1 | $ 1 | $ 3 | $ 3 |
Loans and Allowance for Credi73
Loans and Allowance for Credit Losses, Troubled Debt Restructurings Modifications by Type (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Financing Receivable, Modifications [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | $ 24,139 | $ 24,139 | $ 25,408 | ||
Loans remodified | 369 | $ 464 | 1,500 | $ 1,600 | |
Financing Receivable Modifications Principal Forgiven | 32 | 34 | 78 | 126 | |
Primary modification type | |||||
Principal | 125 | 131 | 340 | 519 | |
Interest rate reduction | 227 | 248 | 626 | 717 | |
Other concessions | 1,225 | 1,187 | 3,634 | 3,880 | |
Total | 1,577 | 1,566 | 4,600 | 5,116 | |
Financial effects of modifications | |||||
Charge-offs | $ 89 | $ 44 | $ 157 | $ 180 | |
Weighted average interest rate reduction | 3.61% | 3.30% | 3.76% | 3.38% | |
Recorded investment related to interest rate reduction | $ 324 | $ 354 | $ 886 | $ 1,096 | |
Total Commercial [Member] | |||||
Primary modification type | |||||
Principal | 3 | 4 | 18 | 11 | |
Interest rate reduction | 56 | 61 | 144 | 193 | |
Other concessions | 650 | 387 | 1,936 | 1,633 | |
Total | 709 | 452 | 2,098 | 1,837 | |
Financial effects of modifications | |||||
Charge-offs | $ 58 | $ 3 | $ 61 | $ 29 | |
Weighted average interest rate reduction | 1.48% | 1.25% | 1.46% | 1.33% | |
Recorded investment related to interest rate reduction | $ 56 | $ 61 | $ 144 | $ 193 | |
Commercial and Industrial Loans [Member] | |||||
Primary modification type | |||||
Principal | 3 | 0 | 3 | 4 | |
Interest rate reduction | 11 | 9 | 26 | 46 | |
Other concessions | 487 | 176 | 1,136 | 687 | |
Total | 501 | 185 | 1,165 | 737 | |
Financial effects of modifications | |||||
Charge-offs | $ 58 | $ 3 | $ 60 | $ 29 | |
Weighted average interest rate reduction | 1.66% | 1.29% | 1.17% | 1.59% | |
Recorded investment related to interest rate reduction | $ 11 | $ 9 | $ 26 | $ 46 | |
Commercial Real Estate Mortgage [Member] | |||||
Primary modification type | |||||
Principal | 0 | 4 | 4 | 7 | |
Interest rate reduction | 44 | 50 | 114 | 143 | |
Other concessions | 154 | 180 | 734 | 748 | |
Total | 198 | 234 | 852 | 898 | |
Financial effects of modifications | |||||
Charge-offs | $ 0 | $ 0 | $ 1 | $ 0 | |
Weighted average interest rate reduction | 1.46% | 1.20% | 1.55% | 1.22% | |
Recorded investment related to interest rate reduction | $ 44 | $ 50 | $ 114 | $ 143 | |
Commercial Real Estate Construction [Member] | |||||
Primary modification type | |||||
Principal | 0 | 0 | 11 | 0 | |
Interest rate reduction | 1 | 2 | 4 | 4 | |
Other concessions | 9 | 31 | 66 | 198 | |
Total | 10 | 33 | 81 | 202 | |
Financial effects of modifications | |||||
Charge-offs | $ 0 | $ 0 | $ 0 | $ 0 | |
Weighted average interest rate reduction | 1.00% | 2.15% | 0.77% | 1.88% | |
Recorded investment related to interest rate reduction | $ 1 | $ 2 | $ 4 | $ 4 | |
Total Consumer [Member] | |||||
Primary modification type | |||||
Principal | 122 | 127 | 322 | 508 | |
Interest rate reduction | 171 | 187 | 482 | 524 | |
Other concessions | 575 | 800 | 1,698 | 2,247 | |
Total | 868 | 1,114 | 2,502 | 3,279 | |
Financial effects of modifications | |||||
Charge-offs | $ 31 | $ 41 | $ 96 | $ 151 | |
Weighted average interest rate reduction | 4.06% | 3.73% | 4.21% | 3.82% | |
Recorded investment related to interest rate reduction | $ 268 | $ 293 | $ 742 | $ 903 | |
Real estate 1-4 family first mortgage [Member] | |||||
Primary modification type | |||||
Principal | 114 | 115 | 296 | 464 | |
Interest rate reduction | 98 | 113 | 269 | 306 | |
Other concessions | 514 | 682 | 1,455 | 2,060 | |
Total | 726 | 910 | 2,020 | 2,830 | |
Financial effects of modifications | |||||
Charge-offs | $ 11 | $ 15 | $ 38 | $ 75 | |
Weighted average interest rate reduction | 2.51% | 2.34% | 2.53% | 2.53% | |
Recorded investment related to interest rate reduction | $ 188 | $ 209 | $ 508 | $ 649 | |
Real estate 1-4 family junior lien mortgage [Member] | |||||
Primary modification type | |||||
Principal | 8 | 12 | 25 | 42 | |
Interest rate reduction | 24 | 31 | 65 | 90 | |
Other concessions | 39 | 62 | 129 | 199 | |
Total | 71 | 105 | 219 | 331 | |
Financial effects of modifications | |||||
Charge-offs | $ 10 | $ 17 | $ 30 | $ 50 | |
Weighted average interest rate reduction | 3.12% | 3.23% | 3.17% | 3.27% | |
Recorded investment related to interest rate reduction | $ 31 | $ 41 | $ 86 | $ 126 | |
Credit Card [Member] | |||||
Primary modification type | |||||
Principal | 0 | 0 | 0 | 0 | |
Interest rate reduction | 41 | 38 | 125 | 118 | |
Other concessions | 0 | 0 | 0 | 0 | |
Total | 41 | 38 | 125 | 118 | |
Financial effects of modifications | |||||
Charge-offs | $ 0 | $ 0 | $ 0 | $ 0 | |
Weighted average interest rate reduction | 11.48% | 11.59% | 11.36% | 11.33% | |
Recorded investment related to interest rate reduction | $ 41 | $ 38 | $ 125 | $ 118 | |
Automobile [Member] | |||||
Primary modification type | |||||
Principal | 0 | 0 | 1 | 2 | |
Interest rate reduction | 1 | 2 | 3 | 4 | |
Other concessions | 22 | 22 | 66 | 65 | |
Total | 23 | 24 | 70 | 71 | |
Financial effects of modifications | |||||
Charge-offs | $ 10 | $ 9 | $ 27 | $ 26 | |
Weighted average interest rate reduction | 7.84% | 8.46% | 8.59% | 8.87% | |
Recorded investment related to interest rate reduction | $ 1 | $ 2 | $ 3 | $ 4 | |
Other revolving credit and installment [Member] | |||||
Primary modification type | |||||
Principal | 0 | 0 | 0 | 0 | |
Interest rate reduction | 7 | 3 | 20 | 6 | |
Other concessions | 1 | 6 | 5 | 10 | |
Total | 8 | 9 | 25 | 16 | |
Financial effects of modifications | |||||
Charge-offs | $ 0 | $ 0 | $ 1 | $ 0 | |
Weighted average interest rate reduction | 5.85% | 5.22% | 5.85% | 5.05% | |
Recorded investment related to interest rate reduction | $ 7 | $ 3 | $ 20 | $ 6 | |
Trial modifications [Member] | |||||
Primary modification type | |||||
Principal | 0 | 0 | 0 | 0 | |
Interest rate reduction | 0 | 0 | 0 | 0 | |
Other concessions | (1) | 28 | 43 | (87) | |
Total | (1) | 28 | 43 | (87) | |
Financial effects of modifications | |||||
Charge-offs | $ 0 | $ 0 | $ 0 | $ 0 | |
Weighted average interest rate reduction | 0.00% | 0.00% | 0.00% | 0.00% | |
Recorded investment related to interest rate reduction | $ 0 | $ 0 | $ 0 | $ 0 | |
Home Affordable Modification Program [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 129 | 129 | 149 | ||
Second Lien Modification Program [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 35 | 35 | 34 | ||
Proprietary Program [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 257 | 257 | 269 | ||
Trial modifications [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 421 | 421 | 452 | ||
Trial modifications [Member] | Financing Receivable Accruing [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 147 | 147 | 167 | ||
Trial modifications [Member] | Financing Receivable Nonaccruing [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | $ 274 | $ 274 | $ 285 |
Loans and Allowance for Credi74
Loans and Allowance for Credit Losses, Troubled Debt Restructurings, Current Defaults (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | $ 113 | $ 182 | $ 370 | $ 483 |
Total Commercial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 43 | 68 | 163 | 164 |
Commercial and Industrial Loans [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 12 | 33 | 58 | 63 |
Commercial Real Estate Mortgage [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 31 | 34 | 103 | 97 |
Commercial Real Estate Construction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 0 | 1 | 2 | 4 |
Total Consumer [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 70 | 114 | 207 | 319 |
Real estate 1-4 family first mortgage [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 49 | 91 | 143 | 248 |
Real estate 1-4 family junior lien mortgage [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 5 | 7 | 13 | 22 |
Credit Card [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 12 | 13 | 39 | 39 |
Automobile [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 3 | 3 | 9 | 10 |
Other revolving credit and installment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | $ 1 | $ 0 | $ 3 | $ 0 |
Loans and Allowance for Credi75
Loans and Allowance for Credit Losses, PCI Loans Outstanding (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2008 |
PCI loans [Abstract] | |||
Purchased Credit Impaired Loans (carrying value) | $ 20,737 | $ 23,320 | |
Total PCI loans (unpaid principal balance) | 29,255 | 32,924 | $ 98,200 |
Total Commercial [Member] | |||
PCI loans [Abstract] | |||
Purchased Credit Impaired Loans (carrying value) | 777 | 1,507 | 18,700 |
Commercial and Industrial Loans [Member] | |||
PCI loans [Abstract] | |||
Purchased Credit Impaired Loans (carrying value) | 71 | 75 | |
Commercial Real Estate Mortgage [Member] | |||
PCI loans [Abstract] | |||
Purchased Credit Impaired Loans (carrying value) | 606 | 1,261 | |
Commercial Real Estate Construction [Member] | |||
PCI loans [Abstract] | |||
Purchased Credit Impaired Loans (carrying value) | 100 | 171 | |
Total Consumer [Member] | |||
PCI loans [Abstract] | |||
Purchased Credit Impaired Loans (carrying value) | 19,960 | 21,813 | $ 40,100 |
Real estate 1-4 family first mortgage [Member] | |||
PCI loans [Abstract] | |||
Purchased Credit Impaired Loans (carrying value) | 19,885 | 21,712 | |
Real estate 1-4 family junior lien mortgage [Member] | |||
PCI loans [Abstract] | |||
Purchased Credit Impaired Loans (carrying value) | $ 75 | $ 101 |
Loans and Allowance for Credi76
Loans and Allowance for Credit Losses, PCI, Accretable Yield (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 72 Months Ended |
Sep. 30, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | |
Change in accretable yield related to PCI loans [Abstract] | |||
Total, beginning of period | $ 16,970 | $ 17,790 | $ 10,447 |
Addition of accretable yield due to acquisitions | 0 | 0 | 132 |
Accretion into interest income | (338) | (1,102) | (12,783) |
Accretion into noninterest income due to sales | 0 | (28) | (430) |
Reclassification from nonaccretable difference for loans with improving credit-related cash flows | 1 | 31 | 8,568 |
Changes in expected cash flows that do not affect nonaccretable difference | 24 | (34) | 11,856 |
Total, end of period | $ 16,657 | $ 16,657 | $ 17,790 |
Loans and Allowance for Credi77
Loans and Allowance for Credit Losses, PCI, Allowance for Credit Losses (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 72 Months Ended |
Sep. 30, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | |
Changes in allowance for PCI loan losses [Abstract] | |||
Balance, beginning of period | $ 7 | $ 11 | $ 0 |
Provision for loan losses | 1 | 6 | 1,733 |
Charge-offs | (3) | (12) | (1,722) |
Balance, end of period | 5 | 5 | 11 |
Commercial Portfolio Segment [Member] | |||
Changes in allowance for PCI loan losses [Abstract] | |||
Balance, beginning of period | 7 | 11 | 0 |
Provision for loan losses | 1 | 6 | 1,629 |
Charge-offs | (3) | (12) | (1,618) |
Balance, end of period | 5 | 5 | 11 |
Pick-a-pay [Member] | |||
Changes in allowance for PCI loan losses [Abstract] | |||
Balance, beginning of period | 0 | 0 | 0 |
Provision for loan losses | 0 | 0 | 0 |
Charge-offs | 0 | 0 | 0 |
Balance, end of period | 0 | 0 | 0 |
Other Consumer [Member] | |||
Changes in allowance for PCI loan losses [Abstract] | |||
Balance, beginning of period | 0 | 0 | 0 |
Provision for loan losses | 0 | 0 | 104 |
Charge-offs | 0 | 0 | (104) |
Balance, end of period | $ 0 | $ 0 | $ 0 |
Loans and Allowance for Credi78
Loans and Allowance for Credit Losses, PCI, by Credit Quality Indicator (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2008 |
Purchased Credit Impaired Loans by Credit Quality Indicator [Abstract] | |||
Purchased Credit Impaired Loans | $ 20,737 | $ 23,320 | |
Total Commercial [Member] | |||
Purchased Credit Impaired Loans by Credit Quality Indicator [Abstract] | |||
Purchased Credit Impaired Loans | 777 | 1,507 | $ 18,700 |
Commercial and Industrial Loans [Member] | |||
Purchased Credit Impaired Loans by Credit Quality Indicator [Abstract] | |||
Purchased Credit Impaired Loans | 71 | 75 | |
Commercial Real Estate Mortgage [Member] | |||
Purchased Credit Impaired Loans by Credit Quality Indicator [Abstract] | |||
Purchased Credit Impaired Loans | 606 | 1,261 | |
Commercial Real Estate Construction [Member] | |||
Purchased Credit Impaired Loans by Credit Quality Indicator [Abstract] | |||
Purchased Credit Impaired Loans | 100 | 171 | |
Purchased Credit-Impaired Loans [Member] | Total Commercial [Member] | |||
Purchased Credit Impaired Loans by Credit Quality Indicator [Abstract] | |||
Purchased Credit Impaired Loans | 777 | 1,507 | |
Purchased Credit-Impaired Loans [Member] | Commercial and Industrial Loans [Member] | |||
Purchased Credit Impaired Loans by Credit Quality Indicator [Abstract] | |||
Purchased Credit Impaired Loans | 71 | 75 | |
Purchased Credit-Impaired Loans [Member] | Commercial Real Estate Mortgage [Member] | |||
Purchased Credit Impaired Loans by Credit Quality Indicator [Abstract] | |||
Purchased Credit Impaired Loans | 606 | 1,261 | |
Purchased Credit-Impaired Loans [Member] | Commercial Real Estate Construction [Member] | |||
Purchased Credit Impaired Loans by Credit Quality Indicator [Abstract] | |||
Purchased Credit Impaired Loans | 100 | 171 | |
Pass [Member] | Purchased Credit-Impaired Loans [Member] | Total Commercial [Member] | |||
Purchased Credit Impaired Loans by Credit Quality Indicator [Abstract] | |||
Purchased Credit Impaired Loans | 448 | 922 | |
Pass [Member] | Purchased Credit-Impaired Loans [Member] | Commercial and Industrial Loans [Member] | |||
Purchased Credit Impaired Loans by Credit Quality Indicator [Abstract] | |||
Purchased Credit Impaired Loans | 31 | 21 | |
Pass [Member] | Purchased Credit-Impaired Loans [Member] | Commercial Real Estate Mortgage [Member] | |||
Purchased Credit Impaired Loans by Credit Quality Indicator [Abstract] | |||
Purchased Credit Impaired Loans | 344 | 783 | |
Pass [Member] | Purchased Credit-Impaired Loans [Member] | Commercial Real Estate Construction [Member] | |||
Purchased Credit Impaired Loans by Credit Quality Indicator [Abstract] | |||
Purchased Credit Impaired Loans | 73 | 118 | |
Criticized [Member] | Purchased Credit-Impaired Loans [Member] | Total Commercial [Member] | |||
Purchased Credit Impaired Loans by Credit Quality Indicator [Abstract] | |||
Purchased Credit Impaired Loans | 329 | 585 | |
Criticized [Member] | Purchased Credit-Impaired Loans [Member] | Commercial and Industrial Loans [Member] | |||
Purchased Credit Impaired Loans by Credit Quality Indicator [Abstract] | |||
Purchased Credit Impaired Loans | 40 | 54 | |
Criticized [Member] | Purchased Credit-Impaired Loans [Member] | Commercial Real Estate Mortgage [Member] | |||
Purchased Credit Impaired Loans by Credit Quality Indicator [Abstract] | |||
Purchased Credit Impaired Loans | 262 | 478 | |
Criticized [Member] | Purchased Credit-Impaired Loans [Member] | Commercial Real Estate Construction [Member] | |||
Purchased Credit Impaired Loans by Credit Quality Indicator [Abstract] | |||
Purchased Credit Impaired Loans | $ 27 | $ 53 |
Loans and Allowance for Credi79
Loans and Allowance for Credit Losses, PCI, by Delinquency Status, Commercial (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2008 |
By delinquency status: | |||
Over 90 DPD and still accruing | $ 14,405 | $ 17,810 | |
Purchased Credit Impaired Loans | 20,737 | 23,320 | |
Purchased Credit-Impaired Loans [Member] | |||
By delinquency status: | |||
Over 90 DPD and still accruing | 3,200 | 3,700 | |
Total Commercial [Member] | |||
By delinquency status: | |||
Purchased Credit Impaired Loans | 777 | 1,507 | $ 18,700 |
Total Commercial [Member] | Purchased Credit-Impaired Loans [Member] | |||
By delinquency status: | |||
Current-29 DPD and still accruing | 711 | 1,371 | |
30-89 DPD and still accruing | 4 | 53 | |
Over 90 DPD and still accruing | 62 | 83 | |
Purchased Credit Impaired Loans | 777 | 1,507 | |
Commercial and Industrial Loans [Member] | |||
By delinquency status: | |||
Purchased Credit Impaired Loans | 71 | 75 | |
Commercial and Industrial Loans [Member] | Purchased Credit-Impaired Loans [Member] | |||
By delinquency status: | |||
Current-29 DPD and still accruing | 71 | 75 | |
30-89 DPD and still accruing | 0 | 0 | |
Over 90 DPD and still accruing | 0 | 0 | |
Purchased Credit Impaired Loans | 71 | 75 | |
Commercial Real Estate Mortgage [Member] | |||
By delinquency status: | |||
Purchased Credit Impaired Loans | 606 | 1,261 | |
Commercial Real Estate Mortgage [Member] | Purchased Credit-Impaired Loans [Member] | |||
By delinquency status: | |||
Current-29 DPD and still accruing | 541 | 1,135 | |
30-89 DPD and still accruing | 4 | 48 | |
Over 90 DPD and still accruing | 61 | 78 | |
Purchased Credit Impaired Loans | 606 | 1,261 | |
Commercial Real Estate Construction [Member] | |||
By delinquency status: | |||
Purchased Credit Impaired Loans | 100 | 171 | |
Commercial Real Estate Construction [Member] | Purchased Credit-Impaired Loans [Member] | |||
By delinquency status: | |||
Current-29 DPD and still accruing | 99 | 161 | |
30-89 DPD and still accruing | 0 | 5 | |
Over 90 DPD and still accruing | 1 | 5 | |
Purchased Credit Impaired Loans | $ 100 | $ 171 |
Loans and Allowance for Credi80
Loans and Allowance for Credit Losses, PCI, by Delinquency Status, Consumer (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
By delinquency status: | ||
Purchased Credit Impaired Loans (carrying value) | $ 20,737 | $ 23,320 |
Residential Mortgage [Member] | ||
By delinquency status: | ||
Purchased Credit Impaired Loans (carrying value) | 19,960 | 21,813 |
Residential Mortgage [Member] | Purchased Credit-Impaired Loans [Member] | ||
By delinquency status: | ||
Current-29 DPD and still accruing | 18,665 | 19,404 |
30-59 DPD and still accruing | 1,766 | 1,994 |
60-89 DPD and still accruing | 762 | 1,054 |
90-119 DPD and still accruing | 313 | 404 |
120-179 DPD and still accruing | 322 | 443 |
180 or more DPD and still accruing | 3,256 | 3,737 |
Total consumer PCI loans (adjusted unpaid principal balance) | 25,084 | 27,036 |
Purchased Credit Impaired Loans (carrying value) | 19,960 | 21,813 |
Real estate 1-4 family first mortgage [Member] | ||
By delinquency status: | ||
Purchased Credit Impaired Loans (carrying value) | 19,885 | 21,712 |
Real estate 1-4 family first mortgage [Member] | Purchased Credit-Impaired Loans [Member] | ||
By delinquency status: | ||
Current-29 DPD and still accruing | 18,456 | 19,236 |
30-59 DPD and still accruing | 1,759 | 1,987 |
60-89 DPD and still accruing | 759 | 1,051 |
90-119 DPD and still accruing | 311 | 402 |
120-179 DPD and still accruing | 320 | 440 |
180 or more DPD and still accruing | 3,244 | 3,654 |
Total consumer PCI loans (adjusted unpaid principal balance) | 24,849 | 26,770 |
Purchased Credit Impaired Loans (carrying value) | 19,885 | 21,712 |
Real estate 1-4 family junior lien mortgage [Member] | ||
By delinquency status: | ||
Purchased Credit Impaired Loans (carrying value) | 75 | 101 |
Real estate 1-4 family junior lien mortgage [Member] | Purchased Credit-Impaired Loans [Member] | ||
By delinquency status: | ||
Current-29 DPD and still accruing | 209 | 168 |
30-59 DPD and still accruing | 7 | 7 |
60-89 DPD and still accruing | 3 | 3 |
90-119 DPD and still accruing | 2 | 2 |
120-179 DPD and still accruing | 2 | 3 |
180 or more DPD and still accruing | 12 | 83 |
Total consumer PCI loans (adjusted unpaid principal balance) | 235 | 266 |
Purchased Credit Impaired Loans (carrying value) | $ 75 | $ 101 |
Loans and Allowance for Credi81
Loans and Allowance for Credit Losses, PCI, by FICO Score, Consumer (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
By FICO: | ||
Purchased Credit Impaired Loans (carrying value) | $ 20,737 | $ 23,320 |
Residential Mortgage [Member] | ||
By FICO: | ||
Purchased Credit Impaired Loans (carrying value) | 19,960 | 21,813 |
Residential Mortgage [Member] | Purchased Credit-Impaired Loans [Member] | ||
By FICO: | ||
Less than 600 | 6,582 | 7,783 |
600-639 | 4,850 | 5,469 |
640-679 | 6,397 | 6,787 |
680-719 | 4,239 | 4,047 |
720-759 | 1,825 | 1,741 |
760-799 | 874 | 881 |
800 and greater | 223 | 221 |
No FICO available | 94 | 107 |
Total consumer PCI loans (adjusted unpaid principal balance) | 25,084 | 27,036 |
Purchased Credit Impaired Loans (carrying value) | 19,960 | 21,813 |
Real estate 1-4 family first mortgage [Member] | ||
By FICO: | ||
Purchased Credit Impaired Loans (carrying value) | 19,885 | 21,712 |
Real estate 1-4 family first mortgage [Member] | Purchased Credit-Impaired Loans [Member] | ||
By FICO: | ||
Less than 600 | 6,522 | 7,708 |
600-639 | 4,811 | 5,416 |
640-679 | 6,346 | 6,718 |
680-719 | 4,195 | 4,008 |
720-759 | 1,804 | 1,728 |
760-799 | 862 | 875 |
800 and greater | 221 | 220 |
No FICO available | 88 | 97 |
Total consumer PCI loans (adjusted unpaid principal balance) | 24,849 | 26,770 |
Purchased Credit Impaired Loans (carrying value) | 19,885 | 21,712 |
Real estate 1-4 family junior lien mortgage [Member] | ||
By FICO: | ||
Purchased Credit Impaired Loans (carrying value) | 75 | 101 |
Real estate 1-4 family junior lien mortgage [Member] | Purchased Credit-Impaired Loans [Member] | ||
By FICO: | ||
Less than 600 | 60 | 75 |
600-639 | 39 | 53 |
640-679 | 51 | 69 |
680-719 | 44 | 39 |
720-759 | 21 | 13 |
760-799 | 12 | 6 |
800 and greater | 2 | 1 |
No FICO available | 6 | 10 |
Total consumer PCI loans (adjusted unpaid principal balance) | 235 | 266 |
Purchased Credit Impaired Loans (carrying value) | $ 75 | $ 101 |
Loans and Allowance for Credi82
Loans and Allowance for Credit Losses, PCI, by Loan to Value Ratio, Consumer (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
By LTV/CLTV: | ||
Purchased Credit Impaired Loans (carrying value) | $ 20,737 | $ 23,320 |
Residential Mortgage [Member] | ||
By LTV/CLTV: | ||
Purchased Credit Impaired Loans (carrying value) | 19,960 | 21,813 |
Real estate 1-4 family first mortgage [Member] | ||
By LTV/CLTV: | ||
Purchased Credit Impaired Loans (carrying value) | 19,885 | 21,712 |
Real estate 1-4 family junior lien mortgage [Member] | ||
By LTV/CLTV: | ||
Purchased Credit Impaired Loans (carrying value) | 75 | 101 |
Purchased Credit-Impaired Loans [Member] | Residential Mortgage [Member] | ||
By LTV/CLTV: | ||
0-60% | 5,273 | 4,343 |
60.01-80% | 10,206 | 11,335 |
80.01-100% | 6,833 | 7,843 |
100.01-120% | 2,042 | 2,481 |
Greater than 120% | 723 | 1,024 |
No LTV/CLTV available | 7 | 10 |
Total consumer PCI loans (adjusted unpaid principal balance) | 25,084 | 27,036 |
Purchased Credit Impaired Loans (carrying value) | 19,960 | 21,813 |
Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||
By LTV/CLTV: | ||
0-60% | 5,243 | 4,309 |
60.01-80% | 10,140 | 11,264 |
80.01-100% | 6,754 | 7,751 |
100.01-120% | 2,002 | 2,437 |
Greater than 120% | 705 | 1,000 |
No LTV/CLTV available | 5 | 9 |
Total consumer PCI loans (adjusted unpaid principal balance) | 24,849 | 26,770 |
Purchased Credit Impaired Loans (carrying value) | 19,885 | 21,712 |
Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By LTV/CLTV: | ||
0-60% | 30 | 34 |
60.01-80% | 66 | 71 |
80.01-100% | 79 | 92 |
100.01-120% | 40 | 44 |
Greater than 120% | 18 | 24 |
No LTV/CLTV available | 2 | 1 |
Total consumer PCI loans (adjusted unpaid principal balance) | 235 | 266 |
Purchased Credit Impaired Loans (carrying value) | $ 75 | $ 101 |
Other Assets (Details)
Other Assets (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | |||
Components of Other Assets [Line Items] | ||||||||
Cost method investments | $ 6,786 | $ 6,786 | $ 7,033 | |||||
Equity method investments | 12,799 | 12,799 | 12,410 | |||||
Other assets, carried at fair value | 2,745 | 2,745 | 2,512 | |||||
Total nonmarketable equity investments | 22,330 | 22,330 | 21,955 | |||||
Corporate/bank-owned life insurance | 19,165 | 19,165 | 18,982 | |||||
Accounts receivable (4) | 27,441 | 27,441 | 27,151 | |||||
Interest receivable | 5,244 | 5,244 | 4,871 | |||||
Customer relationship and other amortized intangibles | 4,742 | 4,742 | 5,660 | |||||
Non-residential real estate | 766 | 766 | 956 | |||||
Operating lease assets | 3,448 | 3,448 | 2,714 | |||||
Due from customers on acceptances | 317 | 317 | 201 | |||||
Other | 15,531 | 15,531 | 16,156 | |||||
Other assets | 98,708 | [1] | 98,708 | [1] | 99,057 | |||
Other Assets Textual [Abstract] | ||||||||
Income (loss) from affordable housing projects, equity method investments | 173 | 529 | ||||||
Low income housing tax credit (LIHTC) investment total tax benefits | 269 | 819 | ||||||
Low income housing tax credit (LIHTC) investment tax credits | 203 | 619 | ||||||
Low income housing tax credit (LIHTC) investment liability for unfunded commitments | 2,800 | $ 2,800 | ||||||
Low income housing tax credit (LIHTC) investment, year liability is expected to be paid | 3 years | |||||||
Income (Expense) Related to Nonmarketable Equity Investments [Abstract] | ||||||||
Net realized gains from nonmarketable equity investments | 632 | $ 309 | $ 1,462 | $ 1,241 | ||||
All other | (161) | (160) | (587) | (592) | ||||
Total | 471 | $ 149 | 875 | $ 649 | ||||
Government insured/guaranteed [Member] | ||||||||
Components of Other Assets [Line Items] | ||||||||
Residential real estate | 502 | 502 | 982 | |||||
Non-government insured/guaranteed [Member] | ||||||||
Components of Other Assets [Line Items] | ||||||||
Residential real estate | 499 | 499 | 671 | |||||
Core deposit intangibles [Member] | ||||||||
Components of Other Assets [Line Items] | ||||||||
Customer relationship and other amortized intangibles | 2,794 | 2,794 | 3,561 | |||||
Customer relationship and other amortized intangibles [Member] | ||||||||
Components of Other Assets [Line Items] | ||||||||
Customer relationship and other amortized intangibles | 671 | 671 | 857 | |||||
Perpetual Preferred Securities NonMarketable [Member] | ||||||||
Components of Other Assets [Line Items] | ||||||||
Cost method investments | $ 689 | |||||||
Other Assets Textual [Abstract] | ||||||||
Cost method investments, fair value disclosure | $ 640 | |||||||
Federal bank stock [Member] | ||||||||
Components of Other Assets [Line Items] | ||||||||
Cost method investments | 4,397 | 4,397 | 4,733 | |||||
Low Income Housing Tax Credit Equity Method Investments [Member] | ||||||||
Components of Other Assets [Line Items] | ||||||||
Equity method investments | 7,959 | 7,959 | 7,278 | |||||
Private equity and other [Member] | ||||||||
Components of Other Assets [Line Items] | ||||||||
Cost method investments | 2,389 | 2,389 | 2,300 | |||||
Equity method investments | $ 4,840 | $ 4,840 | $ 5,132 | |||||
[1] | Parenthetical amounts represent assets and liabilities for which we have elected the fair value option. |
Securitizations and Variable 84
Securitizations and Variable Interest Entities (Details) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | ||
Variable Interest Entity Consolidated Carrying Amount Assets and Liabilities | ||||||
Cash | $ 17,395,000,000 | $ 19,571,000,000 | $ 18,032,000,000 | $ 19,919,000,000 | ||
Trading assets | 73,894,000,000 | 78,255,000,000 | ||||
Investment securities | 346,525,000,000 | 313,801,000,000 | ||||
Loans | 903,233,000,000 | [1] | 862,551,000,000 | |||
Mortgage servicing rights | 11,778,000,000 | 12,738,000,000 | ||||
Other assets | 98,708,000,000 | [1] | 99,057,000,000 | |||
Total assets | [2] | 1,751,265,000,000 | 1,687,155,000,000 | |||
Short-term borrowings | 88,069,000,000 | 63,518,000,000 | ||||
Accrued expenses and other liabilities | 81,700,000,000 | 86,122,000,000 | ||||
Long-term debt | 185,274,000,000 | 183,943,000,000 | ||||
Total liabilities | [3] | 1,557,222,000,000 | 1,501,893,000,000 | |||
Noncontrolling interests | 992,000,000 | 868,000,000 | ||||
VIEs That We Consolidate Recourse [Member] | ||||||
Variable Interest Entity Consolidated Carrying Amount Assets and Liabilities | ||||||
Total liabilities | 0 | 0 | ||||
VIEs that we do not consolidate [Member] | ||||||
Variable Interest Entity Consolidated Carrying Amount Assets and Liabilities | ||||||
Cash | 0 | 0 | ||||
Trading assets | 1,505,000,000 | 2,165,000,000 | ||||
Investment securities | 13,757,000,000 | 18,271,000,000 | ||||
Loans | 10,368,000,000 | 13,195,000,000 | ||||
Mortgage servicing rights | 11,827,000,000 | 12,562,000,000 | ||||
Other assets | 8,599,000,000 | 7,456,000,000 | ||||
Total assets | 46,056,000,000 | 53,649,000,000 | ||||
Short-term borrowings | 0 | 0 | ||||
Accrued expenses and other liabilities | 798,000,000 | 848,000,000 | ||||
Long-term debt | 2,810,000,000 | 2,585,000,000 | ||||
Total liabilities | 3,608,000,000 | 3,433,000,000 | ||||
Noncontrolling interests | 0 | 0 | ||||
Net assets | 42,448,000,000 | 50,216,000,000 | ||||
VIEs that we consolidate [Member] | ||||||
Variable Interest Entity Consolidated Carrying Amount Assets and Liabilities | ||||||
Cash | 149,000,000 | 117,000,000 | ||||
Trading assets | 1,000,000 | 0 | ||||
Investment securities | 530,000,000 | 875,000,000 | ||||
Loans | 4,991,000,000 | 4,509,000,000 | ||||
Mortgage servicing rights | 0 | 0 | ||||
Other assets | 279,000,000 | 316,000,000 | ||||
Total assets | 5,950,000,000 | 5,817,000,000 | ||||
Short-term borrowings | 0 | 0 | ||||
Accrued expenses and other liabilities | 61,000,000 | 49,000,000 | ||||
Long-term debt | 1,386,000,000 | 1,628,000,000 | ||||
Total liabilities | 1,447,000,000 | 1,677,000,000 | ||||
Noncontrolling interests | 99,000,000 | 103,000,000 | ||||
Net assets | 4,404,000,000 | 4,037,000,000 | ||||
Transfers that we account for as secured borrowings [Member] | ||||||
Variable Interest Entity Consolidated Carrying Amount Assets and Liabilities | ||||||
Cash | 0 | 4,000,000 | ||||
Trading assets | 203,000,000 | 204,000,000 | ||||
Investment securities | 2,500,000,000 | 4,592,000,000 | ||||
Loans | 4,562,000,000 | 5,280,000,000 | ||||
Mortgage servicing rights | 0 | 0 | ||||
Other assets | 29,000,000 | 52,000,000 | ||||
Total assets | 7,294,000,000 | 10,132,000,000 | ||||
Short-term borrowings | 1,909,000,000 | 3,141,000,000 | ||||
Accrued expenses and other liabilities | 1,000,000 | 1,000,000 | ||||
Long-term debt | 4,458,000,000 | 4,990,000,000 | ||||
Total liabilities | 6,368,000,000 | 8,132,000,000 | ||||
Noncontrolling interests | 0 | 0 | ||||
Net assets | 926,000,000 | 2,000,000,000 | ||||
Total VIE [Member] | ||||||
Variable Interest Entity Consolidated Carrying Amount Assets and Liabilities | ||||||
Cash | 149,000,000 | 121,000,000 | ||||
Trading assets | 1,709,000,000 | 2,369,000,000 | ||||
Investment securities | 16,787,000,000 | 23,738,000,000 | ||||
Loans | 19,921,000,000 | 22,984,000,000 | ||||
Mortgage servicing rights | 11,827,000,000 | 12,562,000,000 | ||||
Other assets | 8,907,000,000 | 7,824,000,000 | ||||
Total assets | 59,300,000,000 | 69,598,000,000 | ||||
Short-term borrowings | 1,909,000,000 | 3,141,000,000 | ||||
Accrued expenses and other liabilities | 860,000,000 | 898,000,000 | ||||
Long-term debt | 8,654,000,000 | 9,203,000,000 | ||||
Total liabilities | 11,423,000,000 | 13,242,000,000 | ||||
Noncontrolling interests | 99,000,000 | 103,000,000 | ||||
Net assets | $ 47,778,000,000 | $ 56,253,000,000 | ||||
[1] | Parenthetical amounts represent assets and liabilities for which we have elected the fair value option. | |||||
[2] | Our consolidated assets at September 30, 2015, and December 31, 2014, include the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Cash and due from banks, $149 million and $117 million; Trading assets, $1 million and $0 million; Investment securities, $530 million and $875 million; Net loans, $5.0 billion and $4.5 billion; Other assets, $279 million and $316 million; and Total assets, $6.0 billion and $5.8 billion, respectively. | |||||
[3] | Our consolidated liabilities at September 30, 2015, and December 31, 2014, include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Accrued expenses and other liabilities, $61 million and $49 million; Long-term debt, $1.4 billion and $1.6 billion; and Total liabilities, $1.4 billion and $1.7 billion, respectively. |
Securitizations and Variable 85
Securitizations and Variable Interest Entities, Significant Continuing Involvement - Unconsolidated VIEs (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Variable Interest Entity [Line Items] | ||
Total VIE assets | $ 1,489,224 | $ 1,566,049 |
Securitizations and Variable Interest Entities Textual [Abstract] | ||
Carrying value of delinquent loans eligible for repurchase | $ 1,300 | $ 1,700 |
Percentage of underlying collateral rated as investment grade | 73.00% | 70.00% |
Principal amount that would be payable to securitization vehicles | $ 1,300 | $ 1,700 |
Conforming Residential Mortgage Loan Securitization [Member] | ||
Variable Interest Entity [Line Items] | ||
Total VIE assets | 1,211,810 | 1,268,200 |
Other/Nonconforming Residential Mortgage Loan Securitization [Member] | ||
Variable Interest Entity [Line Items] | ||
Total VIE assets | 26,583 | 32,213 |
Commercial Mortgage Backed Securities [Member] | ||
Variable Interest Entity [Line Items] | ||
Total VIE assets | 189,175 | 196,510 |
Collateralized Debt Obligations Debt Securities [Member] | ||
Variable Interest Entity [Line Items] | ||
Total VIE assets | 4,312 | 5,039 |
Collateralized Debt Obligations Loans [Member] | ||
Variable Interest Entity [Line Items] | ||
Total VIE assets | 3,868 | 5,347 |
Asset-based finance structures [Member] | ||
Variable Interest Entity [Line Items] | ||
Total VIE assets | 14,027 | 18,954 |
Tax Credit Structures [Member] | ||
Variable Interest Entity [Line Items] | ||
Total VIE assets | 24,487 | 22,859 |
Collateralized Loan Obligations [Member] | ||
Variable Interest Entity [Line Items] | ||
Total VIE assets | 1,323 | 1,251 |
Investment Funds [Member] | ||
Variable Interest Entity [Line Items] | ||
Total VIE assets | 1,367 | 2,764 |
Other securitizations and transactions [Member] | ||
Variable Interest Entity [Line Items] | ||
Total VIE assets | 12,272 | 12,912 |
Debt and equity interests [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 33,868 | 40,645 |
Maximum exposure to loss | 33,868 | 40,645 |
Debt and equity interests [Member] | Conforming Residential Mortgage Loan Securitization [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 2,622 | 2,846 |
Maximum exposure to loss | 2,622 | 2,846 |
Debt and equity interests [Member] | Other/Nonconforming Residential Mortgage Loan Securitization [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 1,362 | 1,644 |
Maximum exposure to loss | 1,362 | 1,644 |
Debt and equity interests [Member] | Commercial Mortgage Backed Securities [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 6,939 | 8,756 |
Maximum exposure to loss | 6,939 | 8,756 |
Debt and equity interests [Member] | Collateralized Debt Obligations Debt Securities [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 4 | 11 |
Maximum exposure to loss | 4 | 11 |
Debt and equity interests [Member] | Collateralized Debt Obligations Loans [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 3,761 | 5,221 |
Maximum exposure to loss | 3,761 | 5,221 |
Debt and equity interests [Member] | Asset-based finance structures [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 9,547 | 13,044 |
Maximum exposure to loss | 9,547 | 13,044 |
Debt and equity interests [Member] | Tax Credit Structures [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 8,632 | 7,809 |
Maximum exposure to loss | 8,632 | 7,809 |
Debt and equity interests [Member] | Collateralized Loan Obligations [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 384 | 518 |
Maximum exposure to loss | 384 | 518 |
Debt and equity interests [Member] | Investment Funds [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 44 | 49 |
Maximum exposure to loss | 44 | 49 |
Debt and equity interests [Member] | Other securitizations and transactions [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 573 | 747 |
Maximum exposure to loss | 573 | 747 |
Servicing assets [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 11,827 | 12,562 |
Maximum exposure to loss | 11,827 | 12,562 |
Servicing assets [Member] | Conforming Residential Mortgage Loan Securitization [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 10,975 | 11,684 |
Maximum exposure to loss | 10,975 | 11,684 |
Servicing assets [Member] | Other/Nonconforming Residential Mortgage Loan Securitization [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 154 | 209 |
Maximum exposure to loss | 154 | 209 |
Servicing assets [Member] | Commercial Mortgage Backed Securities [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 698 | 650 |
Maximum exposure to loss | 698 | 650 |
Servicing assets [Member] | Collateralized Debt Obligations Debt Securities [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 0 | 0 |
Maximum exposure to loss | 0 | 0 |
Servicing assets [Member] | Collateralized Debt Obligations Loans [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 0 | 0 |
Maximum exposure to loss | 0 | 0 |
Servicing assets [Member] | Asset-based finance structures [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 0 | 0 |
Maximum exposure to loss | 0 | 0 |
Servicing assets [Member] | Tax Credit Structures [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 0 | 0 |
Maximum exposure to loss | 0 | 0 |
Servicing assets [Member] | Collateralized Loan Obligations [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 0 | 0 |
Maximum exposure to loss | 0 | 0 |
Servicing assets [Member] | Investment Funds [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 0 | 0 |
Maximum exposure to loss | 0 | 0 |
Servicing assets [Member] | Other securitizations and transactions [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 0 | 19 |
Maximum exposure to loss | 0 | 19 |
Derivative [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 223 | 325 |
Maximum exposure to loss | 537 | 653 |
Derivative [Member] | Conforming Residential Mortgage Loan Securitization [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 0 | 0 |
Maximum exposure to loss | 0 | 0 |
Derivative [Member] | Other/Nonconforming Residential Mortgage Loan Securitization [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 0 | 0 |
Maximum exposure to loss | 0 | 0 |
Derivative [Member] | Commercial Mortgage Backed Securities [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 256 | 251 |
Maximum exposure to loss | 256 | 251 |
Derivative [Member] | Collateralized Debt Obligations Debt Securities [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 81 | 163 |
Maximum exposure to loss | 81 | 163 |
Derivative [Member] | Collateralized Debt Obligations Loans [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 0 | 0 |
Maximum exposure to loss | 0 | 0 |
Derivative [Member] | Asset-based finance structures [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | (68) | (71) |
Maximum exposure to loss | 81 | 89 |
Derivative [Member] | Tax Credit Structures [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 0 | 0 |
Maximum exposure to loss | 0 | 0 |
Derivative [Member] | Collateralized Loan Obligations [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 0 | 0 |
Maximum exposure to loss | 0 | 0 |
Derivative [Member] | Investment Funds [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 0 | 0 |
Maximum exposure to loss | 0 | 0 |
Derivative [Member] | Other securitizations and transactions [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | (46) | (18) |
Maximum exposure to loss | 119 | 150 |
Other commitments and guarantees [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | (3,470) | (3,316) |
Maximum exposure to loss | 10,458 | 10,247 |
Other commitments and guarantees [Member] | Conforming Residential Mortgage Loan Securitization [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | (544) | (581) |
Maximum exposure to loss | 2,065 | 2,507 |
Other commitments and guarantees [Member] | Other/Nonconforming Residential Mortgage Loan Securitization [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | (5) | (8) |
Maximum exposure to loss | 347 | 345 |
Other commitments and guarantees [Member] | Commercial Mortgage Backed Securities [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | (25) | (32) |
Maximum exposure to loss | 6,576 | 5,715 |
Other commitments and guarantees [Member] | Collateralized Debt Obligations Debt Securities [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | (60) | (105) |
Maximum exposure to loss | 60 | 105 |
Other commitments and guarantees [Member] | Collateralized Debt Obligations Loans [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 0 | 0 |
Maximum exposure to loss | 0 | 0 |
Other commitments and guarantees [Member] | Asset-based finance structures [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 0 | 0 |
Maximum exposure to loss | 444 | 656 |
Other commitments and guarantees [Member] | Tax Credit Structures [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | (2,810) | (2,585) |
Maximum exposure to loss | 790 | 725 |
Other commitments and guarantees [Member] | Collateralized Loan Obligations [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 0 | 0 |
Maximum exposure to loss | 0 | 38 |
Other commitments and guarantees [Member] | Investment Funds [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 0 | 0 |
Maximum exposure to loss | 0 | 0 |
Other commitments and guarantees [Member] | Other securitizations and transactions [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | (26) | (5) |
Maximum exposure to loss | 176 | 156 |
Net assets [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 42,448 | 50,216 |
Net assets [Member] | Conforming Residential Mortgage Loan Securitization [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 13,053 | 13,949 |
Net assets [Member] | Other/Nonconforming Residential Mortgage Loan Securitization [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 1,511 | 1,845 |
Net assets [Member] | Commercial Mortgage Backed Securities [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 7,868 | 9,625 |
Net assets [Member] | Collateralized Debt Obligations Debt Securities [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 25 | 69 |
Net assets [Member] | Collateralized Debt Obligations Loans [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 3,761 | 5,221 |
Net assets [Member] | Asset-based finance structures [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 9,479 | 12,973 |
Net assets [Member] | Tax Credit Structures [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 5,822 | 5,224 |
Net assets [Member] | Collateralized Loan Obligations [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 384 | 518 |
Net assets [Member] | Investment Funds [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 44 | 49 |
Net assets [Member] | Other securitizations and transactions [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 501 | 743 |
Total exposure [Member] | ||
Variable Interest Entity [Line Items] | ||
Maximum exposure to loss | 56,690 | 64,107 |
Total exposure [Member] | Conforming Residential Mortgage Loan Securitization [Member] | ||
Variable Interest Entity [Line Items] | ||
Maximum exposure to loss | 15,662 | 17,037 |
Total exposure [Member] | Other/Nonconforming Residential Mortgage Loan Securitization [Member] | ||
Variable Interest Entity [Line Items] | ||
Maximum exposure to loss | 1,863 | 2,198 |
Total exposure [Member] | Commercial Mortgage Backed Securities [Member] | ||
Variable Interest Entity [Line Items] | ||
Maximum exposure to loss | 14,469 | 15,372 |
Total exposure [Member] | Collateralized Debt Obligations Debt Securities [Member] | ||
Variable Interest Entity [Line Items] | ||
Maximum exposure to loss | 145 | 279 |
Total exposure [Member] | Collateralized Debt Obligations Loans [Member] | ||
Variable Interest Entity [Line Items] | ||
Maximum exposure to loss | 3,761 | 5,221 |
Total exposure [Member] | Asset-based finance structures [Member] | ||
Variable Interest Entity [Line Items] | ||
Maximum exposure to loss | 10,072 | 13,789 |
Total exposure [Member] | Tax Credit Structures [Member] | ||
Variable Interest Entity [Line Items] | ||
Maximum exposure to loss | 9,422 | 8,534 |
Total exposure [Member] | Collateralized Loan Obligations [Member] | ||
Variable Interest Entity [Line Items] | ||
Maximum exposure to loss | 384 | 556 |
Total exposure [Member] | Investment Funds [Member] | ||
Variable Interest Entity [Line Items] | ||
Maximum exposure to loss | 44 | 49 |
Total exposure [Member] | Other securitizations and transactions [Member] | ||
Variable Interest Entity [Line Items] | ||
Maximum exposure to loss | 868 | 1,072 |
Equity Interests [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | 8,600 | 8,100 |
Other Investments [Member] | ||
Securitizations and Variable Interest Entities Textual [Abstract] | ||
Securities Available for Sale Portfolio of ARS issued by VIEs | 521 | 567 |
Trust Preferred Securities [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value asset (liability) | (2,200) | (2,100) |
Trust Preferred Securities [Member] | Preferred Stock [Member] | ||
Securitizations and Variable Interest Entities Textual [Abstract] | ||
Carrying value - equity | $ 2,500 | $ 2,500 |
Securitizations and Variable 86
Securitizations and Variable Interest Entities, Cash Flow Securitizations (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Securitizations and Variable Interest Entities Textual [Abstract] | ||||
Amount paid to third party investors to settle repurchase liabilities | $ 0 | $ 0 | $ 0 | $ 78 |
Amount paid to repurchase loans from securitization vehicles | 2,200 | 3,200 | 8,200 | 10,100 |
Net gains from sale of assets securitizations | 88 | 55 | 404 | 152 |
Residential Mortgage [Member] | ||||
Securitizations and Variable Interest Entities Textual [Abstract] | ||||
Amount of mortgages transferred in securitization and whole loan sale transactions | 50,200 | 40,900 | 143,100 | 111,400 |
Mortgage loans [Member] | ||||
Cash Flow Securitizations [Abstract] | ||||
Proceeds from securitizations and whole loan sales | 52,733 | 45,466 | 153,626 | 122,910 |
Fees from servicing rights retained | 902 | 980 | 2,760 | 2,987 |
Cash flows from other interests held | 328 | 470 | 942 | 1,132 |
Servicing advances, net of repayments | (88) | (21) | (342) | (156) |
Other financial assets [Member] | ||||
Cash Flow Securitizations [Abstract] | ||||
Proceeds from securitizations and whole loan sales | 192 | 0 | 373 | 0 |
Fees from servicing rights retained | 1 | 2 | 5 | 6 |
Cash flows from other interests held | 10 | 19 | 33 | 58 |
Servicing advances, net of repayments | 0 | 0 | 0 | 0 |
Commercial Mortgage [Member] | ||||
Securitizations and Variable Interest Entities Textual [Abstract] | ||||
Net gains from sale of assets securitizations | 63 | 30 | 263 | 71 |
Amount of mortgages transferred in securitization and whole loan sale transactions | 3,000 | 2,200 | 12,500 | 4,500 |
Non-Agency Securitizations And Whole Loan Transactions [Member] | Mortgage loans [Member] | ||||
Cash Flow Securitizations [Abstract] | ||||
Repurchases of assets/loss reimbursements | 3 | 2 | 10 | 5 |
Non-Agency Securitizations And Whole Loan Transactions [Member] | Other financial assets [Member] | ||||
Cash Flow Securitizations [Abstract] | ||||
Repurchases of assets/loss reimbursements | 0 | 0 | 0 | 0 |
Agency securitizations | Mortgage loans [Member] | ||||
Cash Flow Securitizations [Abstract] | ||||
Repurchases of assets/loss reimbursements | 72 | 87 | 210 | 256 |
Agency securitizations | Other financial assets [Member] | ||||
Cash Flow Securitizations [Abstract] | ||||
Repurchases of assets/loss reimbursements | $ 0 | $ 0 | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Residential Mortgage [Member] | ||||
Securitizations and Variable Interest Entities Textual [Abstract] | ||||
Amount of servicing asset at fair value | 1,184 | 900 | ||
Amount of liability for repurchase reserves at fair value | 34 | 34 | ||
Fair Value, Inputs, Level 3 [Member] | Commercial Mortgage [Member] | ||||
Securitizations and Variable Interest Entities Textual [Abstract] | ||||
Amount of servicing asset at fair value | 131 | 12 | ||
Fair Value, Inputs, Level 2 [Member] | Residential Mortgage [Member] | ||||
Securitizations and Variable Interest Entities Textual [Abstract] | ||||
Securities, at fair value | 787 | |||
Fair Value, Inputs, Level 2 [Member] | Commercial Mortgage [Member] | ||||
Securitizations and Variable Interest Entities Textual [Abstract] | ||||
Securities, at fair value | $ 209 | $ 100 |
Securitizations and Variable 87
Securitizations and Variable Interest Entities, Key Economic Assumptions - Mortgage Servicing Assets (Details) - Residential mortgage servicing rights [Member] - $ / loan | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Fair Value Assumption, Date of Securitization or Asset-backed Financing Arrangement, Transferor's Continuing Involvement, Servicing Assets or Liabilities [Line Items] | ||||
Prepayment speed | 11.50% | 12.10% | 12.10% | 12.40% |
Discount rate | 7.10% | 7.70% | 7.40% | 7.60% |
Cost to service ($ per loan) | 223 | 267 | 232 | 268 |
Securitizations and Variable 88
Securitizations and Variable Interest Entities, Key Economic Assumptions - Mortgage Servicing Rights (Details) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015USD ($)$ / loan | Dec. 31, 2014USD ($)$ / loan | |
Decrease in fair value from: | ||
200 basis point increase | $ 82 | $ 130 |
Residential mortgage servicing rights [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 of interests held | $ 11,778 | $ 12,738 |
Expected weighted-average life (in years) | 5 years 7 months 6 days | 5 years 8 months 12 days |
Key economic assumptions: | ||
Prepayment speed assumption | 12.40% | 12.50% |
Decrease in fair value from: | ||
10% adverse change | $ 680 | $ 738 |
25% adverse change | $ 1,614 | $ 1,754 |
Discount rate assumption | 7.00% | 7.60% |
Decrease in fair value from: | ||
100 basis point increase | $ 574 | $ 617 |
200 basis point increase | $ 1,097 | $ 1,178 |
Cost to service assumption ($ per loan) | $ / loan | 165 | 179 |
Decrease in fair value from: | ||
10% adverse change | $ 0 | $ 0 |
25% adverse change | 0 | 0 |
Interest-Only Strips [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 of interests held | $ 35 | $ 117 |
Expected weighted-average life (in years) | 3 years 7 months 6 days | 3 years 10 months 24 days |
Key economic assumptions: | ||
Prepayment speed assumption | 19.20% | 11.40% |
Decrease in fair value from: | ||
10% adverse change | $ 1 | $ 2 |
25% adverse change | $ 3 | $ 6 |
Discount rate assumption | 13.40% | 18.70% |
Decrease in fair value from: | ||
100 basis point increase | $ 1 | $ 2 |
200 basis point increase | 1 | 4 |
Subordinated bonds [Member] | Commercial Securitizations [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 of interests held | $ 349 | $ 294 |
Expected weighted-average life (in years) | 2 years | 2 years 10 months 24 days |
Decrease in fair value from: | ||
Discount rate assumption | 4.20% | 4.70% |
Decrease in fair value from: | ||
100 basis point increase | $ 6 | $ 8 |
200 basis point increase | $ 12 | $ 15 |
Decrease in fair value from: | ||
Credit loss assumption | 2.90% | 4.10% |
Decrease in fair value from: | ||
10% higher losses | $ 1 | $ 3 |
25% higher losses | 6 | 10 |
Subordinated bonds [Member] | Consumer Securitizations [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 of interests held | $ 1 | $ 36 |
Expected weighted-average life (in years) | 11 years 8 months 12 days | 5 years 6 months |
Key economic assumptions: | ||
Prepayment speed assumption | 15.50% | 7.10% |
Decrease in fair value from: | ||
10% adverse change | $ 0 | $ 0 |
25% adverse change | $ 0 | $ 0 |
Discount rate assumption | 10.70% | 3.90% |
Decrease in fair value from: | ||
100 basis point increase | $ 0 | $ 2 |
200 basis point increase | $ 0 | $ 3 |
Decrease in fair value from: | ||
Credit loss assumption | 1.10% | 0.40% |
Decrease in fair value from: | ||
10% higher losses | $ 0 | $ 0 |
25% higher losses | 0 | 0 |
Senior bonds [Member] | Commercial Securitizations [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 of interests held | $ 634 | $ 546 |
Expected weighted-average life (in years) | 5 years 7 months 6 days | 6 years 2 months 12 days |
Decrease in fair value from: | ||
Discount rate assumption | 2.50% | 2.80% |
Decrease in fair value from: | ||
100 basis point increase | $ 30 | $ 29 |
200 basis point increase | $ 59 | $ 55 |
Decrease in fair value from: | ||
Credit loss assumption | 0.00% | 0.00% |
Decrease in fair value from: | ||
10% higher losses | $ 0 | $ 0 |
25% higher losses | 0 | 0 |
Commercial Mortgage Servicing [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 of interests held | $ 1,600 | $ 1,600 |
Securitizations and Variable Interest Entities Textual [Abstract] | ||
Percentage of adverse change in interest rate | 25.00% | 25.00% |
Decrease in fair value from 25% adverse change in interest rate | $ 171 | $ 185 |
VIEs that we do not consolidate [Member] | Loans [Member] | ||
Securitizations and Variable Interest Entities Textual [Abstract] | ||
Loans receivable | $ 5,100 | $ 6,500 |
Securitizations and Variable 89
Securitizations and Variable Interest Entities, Principal Balances of Off-Balance Sheet Securitized Loans (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | $ 1,364,243 | $ 1,437,817 | |
Delinquent loans and foreclosed assets | 29,087 | 36,663 | |
Net charge-offs | 979 | $ 1,554 | |
FNMA, FHLMC and GNMA [Member] | |||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | 1,200,000 | 1,300,000 | |
Delinquent loans and foreclosed assets | 12,200 | 16,500 | |
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Foreclosed assets | 1,800 | 2,400 | |
Total Commercial [Member] | |||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | 111,221 | 114,081 | |
Delinquent loans and foreclosed assets | 6,905 | 7,949 | |
Net charge-offs | 301 | 582 | |
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Foreclosed assets | 5,200 | 3,300 | |
Real estate mortgage [Member] | |||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | 111,221 | 114,081 | |
Delinquent loans and foreclosed assets | 6,905 | 7,949 | |
Net charge-offs | 301 | 582 | |
Total Consumer [Member] | |||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | 1,253,022 | 1,323,736 | |
Delinquent loans and foreclosed assets | 22,182 | 28,714 | |
Net charge-offs | 678 | 972 | |
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Foreclosed assets | 2,400 | 2,700 | |
Real estate 1-4 family first mortgage [Member] | |||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | 1,253,022 | 1,322,136 | |
Delinquent loans and foreclosed assets | 22,182 | 28,639 | |
Net charge-offs | 678 | 971 | |
Real estate 1-4 family junior lien mortgage [Member] | |||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | 0 | 1 | |
Delinquent loans and foreclosed assets | 0 | 0 | |
Net charge-offs | 0 | 0 | |
Other revolving credit and installment [Member] | |||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | 0 | 1,599 | |
Delinquent loans and foreclosed assets | 0 | $ 75 | |
Net charge-offs | $ 0 | $ 1 |
Securitizations and Variable 90
Securitizations and Variable Interest Entities, Secured Borrowing and Consolidated Variable Interest Entity (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | |
Variable Interest Entity [Line Items] | |||
Assets | [1] | $ 1,751,265 | $ 1,687,155 |
Liabilities | [2] | (1,557,222) | (1,501,893) |
Noncontrolling interests | (992) | (868) | |
Total secured borrowings [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 7,538 | 10,476 | |
Total secured borrowings [Member] | Municipal tender option bond securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 3,170 | 5,422 | |
Total secured borrowings [Member] | Commercial real estate loans [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 0 | 250 | |
Total secured borrowings [Member] | Residential mortgage securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 4,368 | 4,804 | |
Consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 6,533 | 6,423 | |
Assets | 5,950 | 5,817 | |
Liabilities | (1,447) | (1,677) | |
Noncontrolling interests | (99) | (103) | |
Net assets | 4,404 | 4,037 | |
Consolidated VIEs [Member] | Commercial real estate loans [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 1,177 | ||
Assets | 1,177 | ||
Liabilities | 0 | ||
Noncontrolling interests | 0 | ||
Net assets | 1,177 | ||
Consolidated VIEs [Member] | Nonconforming residential mortgage loan securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 4,346 | 5,041 | |
Consolidated VIEs [Member] | Structured asset finance [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 84 | 47 | |
Consolidated VIEs [Member] | Investment funds [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 581 | 904 | |
Consolidated VIEs [Member] | Other securitizations and transactions [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 345 | 431 | |
Total secured borrowings and consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 14,071 | 16,899 | |
Carrying value [Member] | Total secured borrowings [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 7,294 | 10,132 | |
Liabilities | (6,368) | (8,132) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 926 | 2,000 | |
Carrying value [Member] | Total secured borrowings [Member] | Municipal tender option bond securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 2,732 | 4,837 | |
Liabilities | (1,910) | (3,143) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 822 | 1,694 | |
Carrying value [Member] | Total secured borrowings [Member] | Commercial real estate loans [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 0 | 250 | |
Liabilities | 0 | (63) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 0 | 187 | |
Carrying value [Member] | Total secured borrowings [Member] | Residential mortgage securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 4,562 | 5,045 | |
Liabilities | (4,458) | (4,926) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 104 | 119 | |
Carrying value [Member] | Consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 5,950 | 5,817 | |
Liabilities | (1,447) | (1,677) | |
Noncontrolling interests | (99) | (103) | |
Net assets | 4,404 | 4,037 | |
Carrying value [Member] | Consolidated VIEs [Member] | Nonconforming residential mortgage loan securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 3,844 | 4,491 | |
Liabilities | (1,302) | (1,509) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 2,542 | 2,982 | |
Carrying value [Member] | Consolidated VIEs [Member] | Structured asset finance [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 45 | 47 | |
Liabilities | (42) | (23) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 3 | 24 | |
Carrying value [Member] | Consolidated VIEs [Member] | Investment funds [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 581 | 904 | |
Liabilities | (1) | (2) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 580 | 902 | |
Carrying value [Member] | Consolidated VIEs [Member] | Other securitizations and transactions [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 303 | 375 | |
Liabilities | (102) | (143) | |
Noncontrolling interests | (99) | (103) | |
Net assets | 102 | 129 | |
Carrying value [Member] | Total secured borrowings and consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 13,244 | 15,949 | |
Liabilities | (7,815) | (9,809) | |
Noncontrolling interests | (99) | (103) | |
Net assets | 5,330 | 6,037 | |
Long-term debt [Member] | |||
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Private placement debt financing | 6,000 | 6,000 | |
Loans [Member] | |||
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Assets pledged to collateralize the borrowings of variable interest entity | 563 | 637 | |
Available-for-sale securities [Member] | |||
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Assets pledged to collateralize the borrowings of variable interest entity | $ 5,900 | $ 5,700 | |
[1] | Our consolidated assets at September 30, 2015, and December 31, 2014, include the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Cash and due from banks, $149 million and $117 million; Trading assets, $1 million and $0 million; Investment securities, $530 million and $875 million; Net loans, $5.0 billion and $4.5 billion; Other assets, $279 million and $316 million; and Total assets, $6.0 billion and $5.8 billion, respectively. | ||
[2] | Our consolidated liabilities at September 30, 2015, and December 31, 2014, include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Accrued expenses and other liabilities, $61 million and $49 million; Long-term debt, $1.4 billion and $1.6 billion; and Total liabilities, $1.4 billion and $1.7 billion, respectively. |
Mortgage Banking Activities, Mo
Mortgage Banking Activities, Mortgage Servicing Rights Carried at Fair Value (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Changes in MSRs measured at fair value | ||||
Fair value, beginning of period | $ 12,738 | |||
Changes in fair value: | ||||
Net changes in valuation model inputs or assumptions | $ (833) | $ 253 | (553) | $ (1,023) |
Other changes in fair value | (504) | (462) | (1,591) | (1,426) |
Total changes in fair value | (1,337) | (209) | (2,144) | (2,449) |
Fair value, end of period | 11,778 | 11,778 | ||
Carried at fair value [Member] | ||||
Changes in MSRs measured at fair value | ||||
Fair value, beginning of period | 12,661 | 13,900 | 12,738 | 15,580 |
Servicing from securitizations or asset transfers | 448 | 340 | 1,184 | 900 |
Sales and other (1) | 6 | 0 | 0 | 0 |
Net additions | 454 | 340 | 1,184 | 900 |
Changes in fair value: | ||||
Net changes in valuation model inputs or assumptions | (833) | 253 | (553) | (1,023) |
Other changes in fair value | (504) | (462) | (1,591) | (1,426) |
Total changes in fair value | (1,337) | (209) | (2,144) | (2,449) |
Fair value, end of period | 11,778 | 14,031 | 11,778 | 14,031 |
Carried at fair value [Member] | Mortgage interest rates [Member] | ||||
Changes in fair value: | ||||
Net changes in valuation model inputs or assumptions | (858) | 251 | (313) | (1,134) |
Carried at fair value [Member] | Servicing and foreclosure costs [Member] | ||||
Changes in fair value: | ||||
Net changes in valuation model inputs or assumptions | (18) | (4) | (46) | (15) |
Carried at fair value [Member] | Discount Rates [Member] | ||||
Changes in fair value: | ||||
Net changes in valuation model inputs or assumptions | 0 | 0 | 0 | (55) |
Carried at fair value [Member] | Prepayment estimates and other [Member] | ||||
Changes in fair value: | ||||
Net changes in valuation model inputs or assumptions | $ 43 | $ 6 | $ (194) | $ 181 |
Mortgage Banking Activities, Am
Mortgage Banking Activities, Amortized Mortgage Servicing Rights (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Changes in amortized MSRs | ||||
Amortization | $ (65,000,000) | $ (48,000,000) | $ (192,000,000) | $ (191,000,000) |
Amortized [Member] | ||||
Changes in amortized MSRs | ||||
Balance, beginning of period | 1,262,000,000 | 1,196,000,000 | 1,242,000,000 | 1,229,000,000 |
Purchases | 45,000,000 | 47,000,000 | 96,000,000 | 119,000,000 |
Servicing from securitizations or asset transfers | 35,000,000 | 29,000,000 | 131,000,000 | 67,000,000 |
Amortization | (65,000,000) | (48,000,000) | (192,000,000) | (191,000,000) |
Balance, end of period | 1,277,000,000 | 1,224,000,000 | 1,277,000,000 | 1,224,000,000 |
Fair value of amortized MSRs: | ||||
Beginning of period | 1,692,000,000 | 1,577,000,000 | 1,637,000,000 | 1,575,000,000 |
End of period | 1,643,000,000 | 1,647,000,000 | 1,643,000,000 | 1,647,000,000 |
Commercial Mortgage Servicing [Member] | Amortized [Member] | ||||
Mortgage Banking Activities (Textual) [Abstract] | ||||
Valuation allowance | $ 0 | $ 0 | $ 0 | $ 0 |
Mortgage Banking Activities, Ma
Mortgage Banking Activities, Managed Servicing Portfolio Components (Details) - USD ($) $ in Billions | Sep. 30, 2015 | Dec. 31, 2014 |
Components of Managed Servicing Portfolio [Abstract] | ||
Serviced for others | $ 1,793 | $ 1,861 |
Total managed servicing portfolio | $ 2,271 | $ 2,327 |
Ratio of MSRs to related loans serviced for others | 0.73% | 0.75% |
Residential Mortgage Servicing [Member] | ||
Components of Managed Servicing Portfolio [Abstract] | ||
Serviced for others | $ 1,323 | $ 1,405 |
Owned loans serviced | 346 | 342 |
Subserviced for others | 4 | 5 |
Total managed servicing portfolio | 1,673 | 1,752 |
Commercial Mortgage Servicing [Member] | ||
Components of Managed Servicing Portfolio [Abstract] | ||
Serviced for others | 470 | 456 |
Owned loans serviced | 121 | 112 |
Subserviced for others | 7 | 7 |
Total managed servicing portfolio | $ 598 | $ 575 |
Mortgage Banking Activities, No
Mortgage Banking Activities, Noninterest Income (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Servicing fees: | ||||
Contractually specified servicing fees | $ 1,001 | $ 1,058 | $ 3,029 | $ 3,217 |
Late charges | 48 | 49 | 147 | 153 |
Ancillary fees | 69 | 74 | 221 | 241 |
Unreimbursed direct servicing costs | (128) | (262) | (371) | (494) |
Net servicing fees | 990 | 919 | 3,026 | 3,117 |
Changes in fair value of MSRs carried at fair value: | ||||
Net changes in valuation model inputs or assumptions | (833) | 253 | (553) | (1,023) |
Other changes in fair value | (504) | (462) | (1,591) | (1,426) |
Total changes in fair value | (1,337) | (209) | (2,144) | (2,449) |
Amortization | (65) | (48) | (192) | (191) |
Net Derivative Gains (Losses) From Economic Hedges Related To Mortgage Servicing Activities | 1,086 | 17 | 1,021 | 2,175 |
Total servicing income, net | 674 | 679 | 1,711 | 2,652 |
Net gains on mortgage loan origination/sales activities | 915 | 954 | 3,130 | 2,214 |
Total mortgage banking noninterest income | 1,589 | 1,633 | 4,841 | 4,866 |
Market-related valuation changes to MSRs, net of hedge results | $ 253 | $ 270 | $ 468 | $ 1,152 |
Mortgage Banking Activities, Li
Mortgage Banking Activities, Liability for Mortgage Loan Repurchase Losses (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Liability For Mortgage Loan Repurchase Losses [Abstract] | ||||
Balance, beginning of period | $ 557 | $ 766 | $ 615 | $ 899 |
Provision for repurchase losses: | ||||
Loan sales | 11 | 12 | 34 | 34 |
Change in estimate | (17) | (93) | (74) | (135) |
Net additions (reductions) | (6) | (81) | (40) | (101) |
Losses | (13) | (16) | (37) | (129) |
Balance, end of period | 538 | $ 669 | 538 | $ 669 |
Liability For Mortgage Loans Repurchase Losses [Member] | ||||
Mortgage Banking Activities (Textual) [Abstract] | ||||
Range of possible loss, portion not accrued | $ 928 | $ 928 |
Intangible Assets (Details)
Intangible Assets (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Amortized intangible assets: | |||
Gross carrying value | $ 19,127 | $ 18,919 | |
Accumulated amortization | (14,385) | (13,259) | |
Net carrying value | 4,742 | 5,660 | |
Unamortized intangible assets: | |||
Mortgage servicing rights | 11,778 | 12,738 | |
Goodwill | 25,684 | 25,705 | $ 25,637 |
Trademark | 14 | 14 | |
MSRs [Member] | |||
Amortized intangible assets: | |||
Gross carrying value | 3,130 | 2,906 | |
Accumulated amortization | (1,853) | (1,664) | |
Net carrying value | 1,277 | 1,242 | |
Core deposit intangibles [Member] | |||
Amortized intangible assets: | |||
Gross carrying value | 12,834 | 12,834 | |
Accumulated amortization | (10,040) | (9,273) | |
Net carrying value | 2,794 | 3,561 | |
Customer relationship and other intangibles [Member] | |||
Amortized intangible assets: | |||
Gross carrying value | 3,163 | 3,179 | |
Accumulated amortization | (2,492) | (2,322) | |
Net carrying value | $ 671 | $ 857 |
Intangible Assets, Amortization
Intangible Assets, Amortization Expense (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | ||||
Nine months ended September 30, 2015 | $ 311 | $ 342 | $ 935 | $ 1,032 |
Estimate for the remainder of 2015 | 376 | 376 | ||
Estimate for year ended December 31, | ||||
2,016 | 1,370 | 1,370 | ||
2,017 | 1,239 | 1,239 | ||
2,018 | 1,111 | 1,111 | ||
2,019 | 146 | 146 | ||
2,020 | 129 | 129 | ||
Finite lived intangible assets [Member] | ||||
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | ||||
Nine months ended September 30, 2015 | 1,129 | |||
MSRs [Member] | ||||
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | ||||
Nine months ended September 30, 2015 | 192 | |||
Estimate for the remainder of 2015 | 66 | 66 | ||
Estimate for year ended December 31, | ||||
2,016 | 243 | 243 | ||
2,017 | 194 | 194 | ||
2,018 | 157 | 157 | ||
2,019 | 136 | 136 | ||
2,020 | 123 | 123 | ||
Core deposit intangibles [Member] | ||||
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | ||||
Nine months ended September 30, 2015 | 767 | |||
Estimate for the remainder of 2015 | 255 | 255 | ||
Estimate for year ended December 31, | ||||
2,016 | 919 | 919 | ||
2,017 | 851 | 851 | ||
2,018 | 769 | 769 | ||
2,019 | 0 | 0 | ||
2,020 | 0 | 0 | ||
Customer relationship and other intangibles [Member] | ||||
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | ||||
Nine months ended September 30, 2015 | 170 | |||
Estimate for the remainder of 2015 | 55 | 55 | ||
Estimate for year ended December 31, | ||||
2,016 | 208 | 208 | ||
2,017 | 194 | 194 | ||
2,018 | 185 | 185 | ||
2,019 | 10 | 10 | ||
2,020 | $ 6 | $ 6 |
Intangible Assets, Allocation o
Intangible Assets, Allocation of Goodwill to Operating Segments (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | $ 25,705 | $ 25,637 |
Goodwill, Written off Related to Sale of Business Unit | (21) | (11) |
Goodwill, Acquired During Period | 87 | |
Goodwill, Other Changes | (8) | |
Goodwill, Ending Balance | 25,684 | 25,705 |
Goodwill | 25,705 | 25,637 |
Community Banking [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 17,863 | 17,871 |
Goodwill, Written off Related to Sale of Business Unit | (21) | 0 |
Goodwill, Acquired During Period | 0 | |
Goodwill, Other Changes | (8) | |
Goodwill, Ending Balance | 17,842 | 17,863 |
Goodwill | 17,863 | 17,871 |
Wholesale Banking [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 6,640 | 6,564 |
Goodwill, Written off Related to Sale of Business Unit | 0 | (11) |
Goodwill, Acquired During Period | 87 | |
Goodwill, Other Changes | 0 | |
Goodwill, Ending Balance | 6,640 | 6,640 |
Goodwill | 6,640 | 6,564 |
Wealth, Brokerage and Retirement [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 1,202 | 1,202 |
Goodwill, Written off Related to Sale of Business Unit | 0 | 0 |
Goodwill, Acquired During Period | 0 | |
Goodwill, Other Changes | 0 | |
Goodwill, Ending Balance | 1,202 | 1,202 |
Goodwill | $ 1,202 | $ 1,202 |
Guarantees, Pledged Assets an99
Guarantees, Pledged Assets and Collateral (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | ||
Guarantor Obligations [Line Items] | ||||||
Carrying value | $ 738 | $ 738 | $ 606 | |||
Maximum exposure to loss, expires in one year or less | 26,059 | 26,059 | 27,515 | |||
Maximum exposure to loss, expires in one year through three years | 16,307 | 16,307 | 16,098 | |||
Maximum exposure to loss, expires in three years through five years | 10,269 | 10,269 | 9,963 | |||
Maximum exposure to loss, expires after five years | 13,580 | 13,580 | 16,546 | |||
Maximum exposure to loss | 66,215 | 66,215 | 70,122 | |||
Securities Loaned | 0 | 0 | 211 | |||
Total assets | [1] | 1,751,265 | 1,751,265 | 1,687,155 | ||
Securities owned and pledged as collateral related to repurchase agreements not available to be repledged, Fair Value | 6,500 | 6,500 | 6,900 | |||
Mortgages held for sale | 11,600 | 11,600 | 8,700 | |||
Carrying value of delinquent loans eligible for repurchase | 1,300 | 1,300 | 1,700 | |||
Security Owned and Pledged as Collateral, Fair Value [Abstract] | ||||||
Trading assets and other | 70,522 | 70,522 | 49,685 | |||
Investment securities | 95,882 | 95,882 | 101,997 | |||
Mortgages held for sale and loans | 449,374 | 449,374 | 418,338 | |||
Total pledged assets | 615,778 | 615,778 | 570,020 | |||
Non-investment grade [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Maximum exposure to loss | 25,732 | 25,732 | 23,823 | |||
Written put options [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Carrying value | 619 | 619 | 469 | |||
Maximum exposure to loss, expires in one year or less | 7,268 | 7,268 | 7,644 | |||
Maximum exposure to loss, expires in one year through three years | 6,328 | 6,328 | 5,256 | |||
Maximum exposure to loss, expires in three years through five years | 4,426 | 4,426 | 2,822 | |||
Maximum exposure to loss, expires after five years | 2,047 | 2,047 | 2,409 | |||
Maximum exposure to loss | 20,069 | 20,069 | 18,131 | |||
Written put options [Member] | Non-investment grade [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Maximum exposure to loss | 10,889 | 10,889 | 7,902 | |||
Direct pay letters of credit (DPLCs) [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Maximum exposure to loss | 12,100 | 12,100 | 15,000 | |||
Third Party Clearing Indemnifications [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Maximum exposure to loss | 2,300 | 2,300 | 5,700 | |||
Third-party Clearing Customer Obligations | 365 | 365 | 950 | |||
Collateral Provided to Third-party Clearing Agents | 1,900 | 1,900 | 5,600 | |||
Standby Letters of Credit [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Carrying value | 39 | 39 | 41 | |||
Maximum exposure to loss, expires in one year or less | 16,584 | 16,584 | 16,271 | |||
Maximum exposure to loss, expires in one year through three years | 9,297 | 9,297 | 10,269 | |||
Maximum exposure to loss, expires in three years through five years | 5,143 | 5,143 | 6,295 | |||
Maximum exposure to loss, expires after five years | 700 | 700 | 645 | |||
Maximum exposure to loss | 31,724 | 31,724 | 33,480 | |||
Standby Letters of Credit [Member] | Non-investment grade [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Maximum exposure to loss | 8,318 | 8,318 | 8,447 | |||
Securities lending and other indemnifications [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Carrying value | 0 | 0 | 0 | |||
Maximum exposure to loss, expires in one year or less | 0 | 0 | 0 | |||
Maximum exposure to loss, expires in one year through three years | 0 | 0 | 2 | |||
Maximum exposure to loss, expires in three years through five years | 0 | 0 | 2 | |||
Maximum exposure to loss, expires after five years | 2,281 | 2,281 | 5,948 | |||
Maximum exposure to loss | 2,281 | 2,281 | 5,952 | |||
Securities lending and other indemnifications [Member] | Non-investment grade [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Maximum exposure to loss | 0 | 0 | 0 | |||
Loans and MHFS sold with recourse [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Carrying value | 63 | 63 | 72 | |||
Maximum exposure to loss, expires in one year or less | 117 | 117 | 131 | |||
Maximum exposure to loss, expires in one year through three years | 664 | 664 | 486 | |||
Maximum exposure to loss, expires in three years through five years | 682 | 682 | 822 | |||
Maximum exposure to loss, expires after five years | 6,004 | 6,004 | 5,386 | |||
Maximum exposure to loss | 7,467 | 7,467 | 6,825 | |||
Loans and MHFS sold with recourse [Member] | Non-investment grade [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Maximum exposure to loss | 4,443 | 4,443 | 3,945 | |||
Factoring guarantee [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Carrying value | 0 | 0 | 0 | |||
Maximum exposure to loss, expires in one year or less | 2,025 | 2,025 | 3,460 | |||
Maximum exposure to loss, expires in one year through three years | 0 | 0 | 0 | |||
Maximum exposure to loss, expires in three years through five years | 0 | 0 | 0 | |||
Maximum exposure to loss, expires after five years | 0 | 0 | 0 | |||
Maximum exposure to loss | 2,025 | 2,025 | 3,460 | |||
Factoring guarantee [Member] | Non-investment grade [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Maximum exposure to loss | 2,025 | 2,025 | 3,460 | |||
Other guarantees [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Carrying value | 17 | 17 | 24 | |||
Maximum exposure to loss, expires in one year or less | 65 | 65 | 9 | |||
Maximum exposure to loss, expires in one year through three years | 18 | 18 | 85 | |||
Maximum exposure to loss, expires in three years through five years | 18 | 18 | 22 | |||
Maximum exposure to loss, expires after five years | 2,548 | 2,548 | 2,158 | |||
Maximum exposure to loss | 2,649 | 2,649 | 2,274 | |||
Other guarantees [Member] | Non-investment grade [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Maximum exposure to loss | 57 | 57 | 69 | |||
Loans and MHFS sold with recourse [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Loans repurchased | 2 | $ 5 | 5 | $ 10 | ||
VIEs that we consolidate [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Total assets | 5,950 | 5,950 | 5,817 | |||
Secured Borrowing transactions excluded [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Total assets | 7,294 | 7,294 | 10,132 | |||
Trading assets and other [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Securities owned and pledged as collateral available to be repledged, Fair Value | 69,900 | 69,900 | 49,400 | |||
Investment securities [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Securities owned and pledged as collateral available to be repledged, Fair Value | 8,800 | 8,800 | 164 | |||
Securities owned and pledged as collateral related to repurchase agreements not available to be repledged, carrying value | 5,900 | 5,900 | 6,600 | |||
Securities owned and pledged as collateral related to repurchase agreements not available to be repledged, Fair Value | $ 5,900 | $ 5,900 | $ 6,800 | |||
[1] | Our consolidated assets at September 30, 2015, and December 31, 2014, include the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Cash and due from banks, $149 million and $117 million; Trading assets, $1 million and $0 million; Investment securities, $530 million and $875 million; Net loans, $5.0 billion and $4.5 billion; Other assets, $279 million and $316 million; and Total assets, $6.0 billion and $5.8 billion, respectively. |
Guarantees, Offsetting of Resal
Guarantees, Offsetting of Resale and Repurchase Agreements and Securities Borrowing and Lending (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Financial Instruments Owned and Pledged as Collateral [Line Items] | ||
Securities owned and pledged as collateral related to repurchase agreements not available to be repledged, Fair Value | $ 6,500 | $ 6,900 |
Net amounts in consolidated balance sheet | 64,487 | 51,671 |
Collateral received, fair value | 86,100 | 64,500 |
Collateral received with the right to sell or repledge | 86,100 | 64,500 |
Collateral sold or repledged | 51,300 | 40,800 |
Collateral pledged, fair value | 85,200 | 56,500 |
Resale and securities borrowing agreements | ||
Gross amounts recognized | 74,370 | 58,148 |
Gross amounts offset in consolidated balance sheet | (9,883) | (6,477) |
Net amounts in consolidated balance sheet | 64,487 | 51,671 |
Collateral not recognized in consolidated balance sheet | (63,991) | (51,624) |
Net amount | 496 | 47 |
Repurchase and securities lending agreements | ||
Gross amounts recognized (5) | 83,798 | 56,583 |
Gross amounts offset in consolidated balance sheet | (9,883) | (6,477) |
Net amounts in consolidated balance sheet | 73,915 | 50,106 |
Collateral pledged but not netted in consolidated balance sheet | (73,525) | (49,713) |
Net amount | 390 | 393 |
Fed Funds Sold, Securities Purchased under Resale Agreements and Other Short-Term Investments [Member] | ||
Financial Instruments Owned and Pledged as Collateral [Line Items] | ||
Net amounts in consolidated balance sheet | 44,800 | 36,800 |
Resale and securities borrowing agreements | ||
Net amounts in consolidated balance sheet | 44,800 | 36,800 |
Loans [Member] | ||
Financial Instruments Owned and Pledged as Collateral [Line Items] | ||
Net amounts in consolidated balance sheet | 19,700 | 14,900 |
Resale and securities borrowing agreements | ||
Net amounts in consolidated balance sheet | $ 19,700 | $ 14,900 |
Guarantees, Pledged Assets a101
Guarantees, Pledged Assets and Collateral Guarantees, Collateral Type and Contractual Maturities of Repurchase Agreements and Securities Lending Agreements (Details) $ in Millions | Sep. 30, 2015USD ($) |
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | |
Repurchase Agreements | $ 73,079 |
Securities Lending | 10,719 |
Total Repurchases and Securities Lending | 83,798 |
Securities of U.S. Treasury and federal agencies [Member] | |
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | |
Repurchase Agreements | 24,295 |
Securities Lending | 65 |
Securities of U.S. states and political subdivisions [Member] | |
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | |
Repurchase Agreements | 43 |
Securities Lending | 10 |
Federal agencies [Member] | |
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | |
Repurchase Agreements | 39,694 |
Securities Lending | 99 |
Non-Agency Mortgage-backed Securities [Member] | |
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | |
Repurchase Agreements | 1,491 |
Corporate debt securities [Member] | |
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | |
Repurchase Agreements | 3,546 |
Securities Lending | 732 |
Asset-backed Securities [Member] | |
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | |
Repurchase Agreements | 2,402 |
Equity Securities [Member] | |
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | |
Repurchase Agreements | 1,224 |
Securities Lending | 9,813 |
Other [Member] | |
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | |
Repurchase Agreements | 384 |
Overnight/Continuous [Member] | |
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | |
Repurchase Agreements | 48,452 |
Securities Lending | 9,540 |
Total Repurchases and Securities Lending | 57,992 |
Up to 30 days [Member] | |
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | |
Repurchase Agreements | 19,424 |
Securities Lending | 0 |
Total Repurchases and Securities Lending | 19,424 |
30-90 days [Member] | |
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | |
Repurchase Agreements | 3,202 |
Securities Lending | 969 |
Total Repurchases and Securities Lending | 4,171 |
Over 90 days [Member] | |
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | |
Repurchase Agreements | 2,001 |
Securities Lending | 210 |
Total Repurchases and Securities Lending | $ 2,211 |
Legal Actions (Details)
Legal Actions (Details) - USD ($) $ in Billions | Jul. 13, 2012 | Sep. 30, 2015 |
In re Interchange Litigation [Member] | ||
Loss Contingencies [Line Items] | ||
Litigation Settlement, Percentage Of Default Interchange Distributed To Class Merchants | 0.10% | |
Legal Actions (Textual) [Abstract] | ||
Amounts to be paid in connection with legal or regulatory matters | $ 6.6 | |
Litigation Settlement, Default Interchange Distributed To Class Merchants, Distribution Period | 8 months | |
Liability for Contingent Litigation Losses [Member] | ||
Legal Actions (Textual) [Abstract] | ||
Range of possible loss, portion not accrued | $ 1.4 |
Derivatives, Notional or Contra
Derivatives, Notional or Contractual Amounts (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Derivatives (trading and other assets) | $ 114,041 | $ 88,474 |
Fair value asset derivatives, netting | (94,142) | (65,869) |
Net amounts in consolidated balance sheet | 19,899 | 22,605 |
Fair value liability derivatives | 107,681 | 83,781 |
Fair value liability derivatives, netting | (92,286) | (65,043) |
Net amounts in consolidated balance sheet | 15,395 | 18,738 |
Interest Rate Contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Derivatives (trading and other assets) | 92,013 | 63,698 |
Fair value asset derivatives, netting | (84,393) | (56,051) |
Net amounts in consolidated balance sheet | 7,620 | 7,647 |
Fair value liability derivatives | 85,655 | 60,059 |
Fair value liability derivatives, netting | (80,128) | (54,394) |
Net amounts in consolidated balance sheet | 5,527 | 5,665 |
Commodity contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Derivatives (trading and other assets) | 5,218 | 7,461 |
Fair value asset derivatives, netting | (1,000) | (1,233) |
Net amounts in consolidated balance sheet | 4,218 | 6,228 |
Fair value liability derivatives | 6,042 | 7,702 |
Fair value liability derivatives, netting | (1,065) | (1,459) |
Net amounts in consolidated balance sheet | 4,977 | 6,243 |
Equity contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Derivatives (trading and other assets) | 7,809 | 9,005 |
Fair value asset derivatives, netting | (2,811) | (2,842) |
Net amounts in consolidated balance sheet | 4,998 | 6,163 |
Fair value liability derivatives | 5,123 | 7,038 |
Fair value liability derivatives, netting | (2,253) | (2,845) |
Net amounts in consolidated balance sheet | 2,870 | 4,193 |
Foreign exchange contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Derivatives (trading and other assets) | 8,343 | 7,404 |
Fair value asset derivatives, netting | (5,404) | (4,923) |
Net amounts in consolidated balance sheet | 2,939 | 2,481 |
Fair value liability derivatives | 10,107 | 7,827 |
Fair value liability derivatives, netting | (8,321) | (5,511) |
Net amounts in consolidated balance sheet | 1,786 | 2,316 |
Credit Contracts Protection Sold [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Derivatives (trading and other assets) | 82 | 151 |
Fair value asset derivatives, netting | (72) | (131) |
Net amounts in consolidated balance sheet | 10 | 20 |
Fair value liability derivatives | 593 | 943 |
Fair value liability derivatives, netting | (463) | (713) |
Net amounts in consolidated balance sheet | 130 | 230 |
Credit Contracts Protection Purchased [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Derivatives (trading and other assets) | 576 | 755 |
Fair value asset derivatives, netting | (462) | (689) |
Net amounts in consolidated balance sheet | 114 | 66 |
Fair value liability derivatives | 91 | 168 |
Fair value liability derivatives, netting | (56) | (121) |
Net amounts in consolidated balance sheet | 35 | 47 |
Other contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value liability derivatives | 70 | 44 |
Fair value liability derivatives, netting | 0 | 0 |
Net amounts in consolidated balance sheet | 70 | 44 |
Designated as Hedging Instrument [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Derivatives (trading and other assets) | 9,489 | 7,288 |
Fair value liability derivatives | 5,117 | 3,782 |
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 186,840 | 148,967 |
Derivatives (trading and other assets) | 9,091 | 6,536 |
Fair value liability derivatives | 2,708 | 2,435 |
Derivatives (Textual) [Abstract] | ||
Certain derivatives combined for designation as a hedge on a single instrument | 1,900 | 1,900 |
Designated as Hedging Instrument [Member] | Foreign exchange contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 27,286 | 26,778 |
Derivatives (trading and other assets) | 398 | 752 |
Fair value liability derivatives | 2,409 | 1,347 |
Derivatives (Textual) [Abstract] | ||
Certain derivatives combined for designation as a hedge on a single instrument | 5,800 | 2,700 |
Not Designated as Hedging Instrument [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Derivatives (trading and other assets) | 104,552 | 81,186 |
Fair value liability derivatives | 102,564 | 79,999 |
Not Designated as Hedging Instrument [Member] | Free standing derivatives (economic hedges) [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Derivatives (trading and other assets) | 1,472 | 1,339 |
Fair value liability derivatives | 750 | 611 |
Not Designated as Hedging Instrument [Member] | Customer Accommodation, Trading, And Other Derivatives [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Derivatives (trading and other assets) | 103,080 | 79,847 |
Fair value liability derivatives | 101,814 | 79,388 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Free standing derivatives (economic hedges) [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 202,390 | 221,527 |
Derivatives (trading and other assets) | 673 | 697 |
Fair value liability derivatives | 507 | 487 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Customer Accommodation, Trading, And Other Derivatives [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 5,116,922 | 4,378,767 |
Derivatives (trading and other assets) | 82,249 | 56,465 |
Fair value liability derivatives | 82,440 | 57,137 |
Not Designated as Hedging Instrument [Member] | Commodity contract [Member] | Customer Accommodation, Trading, And Other Derivatives [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 57,779 | 88,640 |
Derivatives (trading and other assets) | 5,218 | 7,461 |
Fair value liability derivatives | 6,042 | 7,702 |
Not Designated as Hedging Instrument [Member] | Equity contract [Member] | Free standing derivatives (economic hedges) [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 6,577 | 5,219 |
Derivatives (trading and other assets) | 502 | 367 |
Fair value liability derivatives | 45 | 96 |
Not Designated as Hedging Instrument [Member] | Equity contract [Member] | Customer Accommodation, Trading, And Other Derivatives [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 136,981 | 138,422 |
Derivatives (trading and other assets) | 7,307 | 8,638 |
Fair value liability derivatives | 5,078 | 6,942 |
Not Designated as Hedging Instrument [Member] | Foreign exchange contract [Member] | Free standing derivatives (economic hedges) [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 19,062 | 14,405 |
Derivatives (trading and other assets) | 297 | 275 |
Fair value liability derivatives | 198 | 28 |
Not Designated as Hedging Instrument [Member] | Foreign exchange contract [Member] | Customer Accommodation, Trading, And Other Derivatives [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 295,409 | 253,742 |
Derivatives (trading and other assets) | 7,648 | 6,377 |
Fair value liability derivatives | 7,500 | 6,452 |
Not Designated as Hedging Instrument [Member] | Credit Contracts Protection Sold [Member] | Customer Accommodation, Trading, And Other Derivatives [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 11,059 | 12,304 |
Derivatives (trading and other assets) | 82 | 151 |
Fair value liability derivatives | 593 | 943 |
Not Designated as Hedging Instrument [Member] | Credit Contracts Protection Purchased [Member] | Customer Accommodation, Trading, And Other Derivatives [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 19,318 | 16,659 |
Derivatives (trading and other assets) | 576 | 755 |
Fair value liability derivatives | 91 | 168 |
Not Designated as Hedging Instrument [Member] | Other contract [Member] | Customer Accommodation, Trading, And Other Derivatives [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 1,790 | 1,994 |
Derivatives (trading and other assets) | 0 | 0 |
Fair value liability derivatives | $ 70 | $ 44 |
Derivatives, Balance Sheet Offs
Derivatives, Balance Sheet Offsetting of Assets and Liabilities (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Derivative Assets | ||
Gross amounts recognized | $ 114,041 | $ 88,474 |
Gross amounts offset in consolidated balance sheet | (94,142) | (65,869) |
Net amounts in consolidated balance sheet | 19,899 | 22,605 |
Gross amounts not offset in consolidated balance sheet | (1,450) | (1,332) |
Net amounts | 18,449 | 21,273 |
Derivative Liabilities | ||
Gross amounts recognized | 107,681 | 83,781 |
Gross amounts offset in consolidated balance sheet | (92,286) | (65,043) |
Net amounts in consolidated balance sheet | 15,395 | 18,738 |
Gross amounts not offset in consolidated balance sheet | (4,540) | (5,248) |
Net amounts | 10,855 | 13,490 |
Derivatives (Textual) [Abstract] | ||
Derivative assets subject to enforceable master netting arrangements | 96,700 | 69,600 |
Derivative liabilities subject to enforceable master netting arrangements | 100,300 | 75,000 |
Derivative assets not subject to enforceable master netting arrangements | 17,300 | 18,900 |
Derivative liabilities not subject to enforceable master netting arrangements | 7,300 | 8,800 |
Valuation adjustments for derivative assets | 390 | 266 |
Valuation adjustments for derivative liabilities | 99 | 56 |
Cash collateral netted against derivative assets | 6,500 | 5,200 |
Cash collateral netted against derivative liabilities | 5,000 | 4,600 |
Interest Rate Contract [Member] | ||
Derivative Assets | ||
Gross amounts recognized | 92,013 | 63,698 |
Gross amounts offset in consolidated balance sheet | (84,393) | (56,051) |
Net amounts in consolidated balance sheet | 7,620 | 7,647 |
Gross amounts not offset in consolidated balance sheet | (928) | (769) |
Net amounts | $ 6,692 | $ 6,878 |
Percent exchanged in the over the counter market | 30.00% | 45.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 85,655 | $ 60,059 |
Gross amounts offset in consolidated balance sheet | (80,128) | (54,394) |
Net amounts in consolidated balance sheet | 5,527 | 5,665 |
Gross amounts not offset in consolidated balance sheet | (3,890) | (4,244) |
Net amounts | $ 1,637 | $ 1,421 |
Percent traded in over the counter market | 26.00% | 44.00% |
Commodity contract [Member] | ||
Derivative Assets | ||
Gross amounts recognized | $ 5,218 | $ 7,461 |
Gross amounts offset in consolidated balance sheet | (1,000) | (1,233) |
Net amounts in consolidated balance sheet | 4,218 | 6,228 |
Gross amounts not offset in consolidated balance sheet | (62) | (72) |
Net amounts | $ 4,156 | $ 6,156 |
Percent exchanged in the over the counter market | 32.00% | 27.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 6,042 | $ 7,702 |
Gross amounts offset in consolidated balance sheet | (1,065) | (1,459) |
Net amounts in consolidated balance sheet | 4,977 | 6,243 |
Gross amounts not offset in consolidated balance sheet | (143) | (33) |
Net amounts | $ 4,834 | $ 6,210 |
Percent traded in over the counter market | 84.00% | 81.00% |
Equity contract [Member] | ||
Derivative Assets | ||
Gross amounts recognized | $ 7,809 | $ 9,005 |
Gross amounts offset in consolidated balance sheet | (2,811) | (2,842) |
Net amounts in consolidated balance sheet | 4,998 | 6,163 |
Gross amounts not offset in consolidated balance sheet | (449) | (405) |
Net amounts | $ 4,549 | $ 5,758 |
Percent exchanged in the over the counter market | 50.00% | 54.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 5,123 | $ 7,038 |
Gross amounts offset in consolidated balance sheet | (2,253) | (2,845) |
Net amounts in consolidated balance sheet | 2,870 | 4,193 |
Gross amounts not offset in consolidated balance sheet | (217) | (484) |
Net amounts | $ 2,653 | $ 3,709 |
Percent traded in over the counter market | 81.00% | 82.00% |
Foreign exchange contract [Member] | ||
Derivative Assets | ||
Gross amounts recognized | $ 8,343 | $ 7,404 |
Gross amounts offset in consolidated balance sheet | (5,404) | (4,923) |
Net amounts in consolidated balance sheet | 2,939 | 2,481 |
Gross amounts not offset in consolidated balance sheet | (9) | (85) |
Net amounts | $ 2,930 | $ 2,396 |
Percent exchanged in the over the counter market | 99.00% | 98.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 10,107 | $ 7,827 |
Gross amounts offset in consolidated balance sheet | (8,321) | (5,511) |
Net amounts in consolidated balance sheet | 1,786 | 2,316 |
Gross amounts not offset in consolidated balance sheet | (175) | (270) |
Net amounts | $ 1,611 | $ 2,046 |
Percent traded in over the counter market | 100.00% | 100.00% |
Credit Contracts Protection Sold [Member] | ||
Derivative Assets | ||
Gross amounts recognized | $ 82 | $ 151 |
Gross amounts offset in consolidated balance sheet | (72) | (131) |
Net amounts in consolidated balance sheet | 10 | 20 |
Gross amounts not offset in consolidated balance sheet | 0 | 0 |
Net amounts | $ 10 | $ 20 |
Percent exchanged in the over the counter market | 90.00% | 90.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 593 | $ 943 |
Gross amounts offset in consolidated balance sheet | (463) | (713) |
Net amounts in consolidated balance sheet | 130 | 230 |
Gross amounts not offset in consolidated balance sheet | (100) | (199) |
Net amounts | $ 30 | $ 31 |
Percent traded in over the counter market | 100.00% | 100.00% |
Credit Contracts Protection Purchased [Member] | ||
Derivative Assets | ||
Gross amounts recognized | $ 576 | $ 755 |
Gross amounts offset in consolidated balance sheet | (462) | (689) |
Net amounts in consolidated balance sheet | 114 | 66 |
Gross amounts not offset in consolidated balance sheet | (2) | (1) |
Net amounts | $ 112 | $ 65 |
Percent exchanged in the over the counter market | 100.00% | 100.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 91 | $ 168 |
Gross amounts offset in consolidated balance sheet | (56) | (121) |
Net amounts in consolidated balance sheet | 35 | 47 |
Gross amounts not offset in consolidated balance sheet | (15) | (18) |
Net amounts | $ 20 | $ 29 |
Percent traded in over the counter market | 78.00% | 86.00% |
Other contract [Member] | ||
Derivative Liabilities | ||
Gross amounts recognized | $ 70 | $ 44 |
Gross amounts offset in consolidated balance sheet | 0 | 0 |
Net amounts in consolidated balance sheet | 70 | 44 |
Gross amounts not offset in consolidated balance sheet | 0 | 0 |
Net amounts | $ 70 | $ 44 |
Percent traded in over the counter market | 100.00% | 100.00% |
Trading assets (excluding derivatives) [Member] | ||
Derivative Assets | ||
Net amounts in consolidated balance sheet | $ 15,200 | $ 16,900 |
Other Assets [Member] | ||
Derivative Assets | ||
Net amounts in consolidated balance sheet | $ 4,700 | $ 5,700 |
Derivatives, Net Gains (Losses)
Derivatives, Net Gains (Losses) in Income related to Fair Value Hedges (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Net Gains Losses Recognized In Income Statement Related To Derivatives In Fair Value Hedging Relationships [Abstract] | ||||
Net interest income (expense) recognized on derivatives | $ 327 | $ 363 | $ 1,002 | $ 1,046 |
Gains (losses) recorded in noninterest income | ||||
Recognized on derivatives | 858 | (989) | (956) | 218 |
Recognized on hedged item | (659) | 1,074 | 1,041 | 91 |
Net recognized on fair value hedges (ineffective portion) | 199 | 85 | 85 | 309 |
Derivatives (Textual) [Abstract] | ||||
Time value component recognized as net interest income (expense) on forward derivatives excluded from the assessment of hedge effectiveness | (1) | 0 | (4) | 0 |
Available-for-sale securities [Member] | Interest rate contract [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives In Fair Value Hedging Relationships [Abstract] | ||||
Net interest income (expense) recognized on derivatives | (199) | (183) | (585) | (536) |
Gains (losses) recorded in noninterest income | ||||
Recognized on derivatives | (1,182) | (28) | (496) | (973) |
Recognized on hedged item | 1,180 | 23 | 484 | 947 |
Net recognized on fair value hedges (ineffective portion) | (2) | (5) | (12) | (26) |
Available-for-sale securities [Member] | Foreign exchange contract [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives In Fair Value Hedging Relationships [Abstract] | ||||
Net interest income (expense) recognized on derivatives | 0 | (1) | 0 | (9) |
Gains (losses) recorded in noninterest income | ||||
Recognized on derivatives | 27 | 294 | 191 | 275 |
Recognized on hedged item | (29) | (286) | (187) | (271) |
Net recognized on fair value hedges (ineffective portion) | (2) | 8 | 4 | 4 |
Mortgages held for sale [Member] | Interest rate contract [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives In Fair Value Hedging Relationships [Abstract] | ||||
Net interest income (expense) recognized on derivatives | (3) | (2) | (10) | (12) |
Gains (losses) recorded in noninterest income | ||||
Recognized on derivatives | (20) | 1 | (14) | (25) |
Recognized on hedged item | 16 | (5) | 5 | 14 |
Net recognized on fair value hedges (ineffective portion) | (4) | (4) | (9) | (11) |
Long-term debt [Member] | Interest rate contract [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives In Fair Value Hedging Relationships [Abstract] | ||||
Net interest income (expense) recognized on derivatives | 494 | 467 | 1,445 | 1,371 |
Gains (losses) recorded in noninterest income | ||||
Recognized on derivatives | 2,233 | 18 | 1,186 | 1,801 |
Recognized on hedged item | (2,039) | 37 | (1,121) | (1,530) |
Net recognized on fair value hedges (ineffective portion) | 194 | 55 | 65 | 271 |
Long-term debt [Member] | Foreign exchange contract [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives In Fair Value Hedging Relationships [Abstract] | ||||
Net interest income (expense) recognized on derivatives | 35 | 82 | 152 | 232 |
Gains (losses) recorded in noninterest income | ||||
Recognized on derivatives | (200) | (1,274) | (1,823) | (860) |
Recognized on hedged item | 213 | 1,305 | 1,860 | 931 |
Net recognized on fair value hedges (ineffective portion) | $ 13 | $ 31 | $ 37 | $ 71 |
Derivatives, Net Gains (Loss106
Derivatives, Net Gains (Losses) related to Cash Flow Hedges (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Net Gains Losses Recognized Related to Derivatives in Cash Flow Hedging Relationships [Abstract] | ||||
Gains (losses) (pre tax) recognized in OCI on derivatives | $ 1,769,000,000 | $ (34,000,000) | $ 2,233,000,000 | $ 222,000,000 |
Gains (pre tax) reclassified from cumulative OCI into net income | 293,000,000 | 127,000,000 | 795,000,000 | 348,000,000 |
Gains (losses) (pre tax) recognized in noninterest income for hedge ineffectiveness. | 0 | 0 | 1,000,000 | 1,000,000 |
Derivatives (Textual) [Abstract] | ||||
Deferred net gains on derivatives in other comprehensive income | $ 992,000,000 | |||
Maximum length of time hedged in cash flow hedge | 7 years | |||
Change in value of derivatives excluded from assessment of cash flow hedge effectiveness | $ 0 | $ 0 | $ 0 | $ 0 |
Derivatives, Net Gains (Loss107
Derivatives, Net Gains (Losses) in Income related to Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Derivatives (Textual) [Abstract] | |||||
Gains (losses) on derivatives used to hedge residential mortgage servicing rights | $ 1,086 | $ 17 | $ 1,021 | $ 2,175 | |
Aggregate fair value of derivatives used for economic hedges net asset (liability) | 561 | 561 | $ 492 | ||
Aggregate fair value of derivative loan commitments net asset (liability) | 160 | 160 | $ 98 | ||
Not Designated as Hedging Instrument [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 1,913 | 696 | 3,395 | 1,713 | |
Not Designated as Hedging Instrument [Member] | Economic Hedges [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 764 | 542 | 1,061 | 1,333 | |
Not Designated as Hedging Instrument [Member] | Economic Hedges [Member] | Interest Rate Contracts, Mortgage Banking [ Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 621 | 85 | 885 | 926 | |
Not Designated as Hedging Instrument [Member] | Economic Hedges [Member] | Interest Rate Contracts, Other | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (92) | (25) | (42) | (150) | |
Not Designated as Hedging Instrument [Member] | Economic Hedges [Member] | Equity contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (90) | (47) | (85) | 76 | |
Not Designated as Hedging Instrument [Member] | Economic Hedges [Member] | Foreign exchange contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 325 | 530 | 303 | 482 | |
Not Designated as Hedging Instrument [Member] | Economic Hedges [Member] | Credit contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | (1) | 0 | (1) | |
Not Designated as Hedging Instrument [Member] | Customer Accommodation, Trading, And Other Derivatives [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 1,149 | 154 | 2,334 | 380 | |
Not Designated as Hedging Instrument [Member] | Customer Accommodation, Trading, And Other Derivatives [Member] | Interest Rate Contracts, Mortgage Banking [ Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 442 | 142 | 806 | 930 | |
Not Designated as Hedging Instrument [Member] | Customer Accommodation, Trading, And Other Derivatives [Member] | Interest Rate Contracts, Other | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (340) | 4 | 56 | (724) | |
Not Designated as Hedging Instrument [Member] | Customer Accommodation, Trading, And Other Derivatives [Member] | Commodity contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 10 | 23 | 54 | 60 | |
Not Designated as Hedging Instrument [Member] | Customer Accommodation, Trading, And Other Derivatives [Member] | Equity contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 747 | (197) | 797 | (505) | |
Not Designated as Hedging Instrument [Member] | Customer Accommodation, Trading, And Other Derivatives [Member] | Foreign exchange contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 286 | 185 | 611 | 599 | |
Not Designated as Hedging Instrument [Member] | Customer Accommodation, Trading, And Other Derivatives [Member] | Credit contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 37 | 9 | 36 | 41 | |
Not Designated as Hedging Instrument [Member] | Customer Accommodation, Trading, And Other Derivatives [Member] | Other contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | $ (33) | $ (12) | $ (26) | $ (21) |
Derivatives, Sold and Purchased
Derivatives, Sold and Purchased Credit Derivatives (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value liability | $ 593 | $ 943 |
Notional amount Protection sold | 11,059 | 12,304 |
Notional amount Protection purchased with identical underlyings | 6,042 | 6,888 |
Notional Net protection sold | 5,017 | 5,416 |
Notional Other protection purchased | 13,276 | 9,771 |
Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | 5,247 | 6,207 |
Corporate bonds [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value liability | 29 | 23 |
Notional amount Protection sold | 5,131 | 6,344 |
Notional amount Protection purchased with identical underlyings | 3,889 | 4,894 |
Notional Net protection sold | 1,242 | 1,450 |
Notional Other protection purchased | $ 2,514 | $ 2,831 |
Corporate bonds [Member] | Minimum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Jan. 1, 2015 | Jan. 1, 2015 |
Corporate bonds [Member] | Maximum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Dec. 31, 2025 | Dec. 31, 2021 |
Corporate bonds [Member] | Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | $ 1,801 | $ 2,904 |
Structured products [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value liability | 340 | 654 |
Notional amount Protection sold | 680 | 1,055 |
Notional amount Protection purchased with identical underlyings | 456 | 608 |
Notional Net protection sold | 224 | 447 |
Notional Other protection purchased | $ 126 | $ 277 |
Structured products [Member] | Minimum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Jan. 1, 2017 | Jan. 1, 2017 |
Structured products [Member] | Maximum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Dec. 31, 2052 | Dec. 31, 2052 |
Structured products [Member] | Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | $ 539 | $ 874 |
Credit default swap [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value liability | 0 | 0 |
Notional amount Protection sold | 1,762 | 1,659 |
Notional amount Protection purchased with identical underlyings | 968 | 777 |
Notional Net protection sold | 794 | 882 |
Notional Other protection purchased | $ 1,794 | $ 1,042 |
Credit default swap [Member] | Minimum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Jan. 1, 2015 | Jan. 1, 2015 |
Credit default swap [Member] | Maximum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Dec. 31, 2020 | Dec. 31, 2019 |
Credit default swap [Member] | Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | $ 302 | $ 292 |
Commercial Mortgage Backed Securities [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value liability | 205 | 246 |
Notional amount Protection sold | 833 | 1,058 |
Notional amount Protection purchased with identical underlyings | 728 | 608 |
Notional Net protection sold | 105 | 450 |
Notional Other protection purchased | $ 392 | $ 355 |
Commercial Mortgage Backed Securities [Member] | Minimum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Jan. 1, 2047 | Jan. 1, 2047 |
Commercial Mortgage Backed Securities [Member] | Maximum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Dec. 31, 2057 | Dec. 31, 2063 |
Commercial Mortgage Backed Securities [Member] | Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | $ 0 | $ 0 |
Asset-backed securities [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value liability | 18 | 19 |
Notional amount Protection sold | 48 | 52 |
Notional amount Protection purchased with identical underlyings | 1 | 1 |
Notional Net protection sold | 47 | 51 |
Notional Other protection purchased | $ 72 | $ 81 |
Asset-backed securities [Member] | Minimum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Jan. 1, 2045 | Jan. 1, 2045 |
Asset-backed securities [Member] | Maximum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Dec. 31, 2046 | Dec. 31, 2046 |
Asset-backed securities [Member] | Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | $ 0 | $ 1 |
Other Credit Derivatives [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value liability | 1 | 1 |
Notional amount Protection sold | 2,605 | 2,136 |
Notional amount Protection purchased with identical underlyings | 0 | 0 |
Notional Net protection sold | 2,605 | 2,136 |
Notional Other protection purchased | $ 8,378 | $ 5,185 |
Other Credit Derivatives [Member] | Minimum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Jan. 1, 2015 | Jan. 1, 2015 |
Other Credit Derivatives [Member] | Maximum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Dec. 31, 2025 | Dec. 31, 2025 |
Other Credit Derivatives [Member] | Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | $ 2,605 | $ 2,136 |
Derivatives Credit-Risk Conting
Derivatives Credit-Risk Contingent Feature Textuals (Details) - USD ($) $ in Billions | Sep. 30, 2015 | Dec. 31, 2014 |
Derivatives [Abstract] | ||
Aggregate fair value of derivative instruments with credit-risk-related contingent features, net liability | $ 12.6 | $ 13.6 |
Collateral for derivative instruments with credit-risk-related contingent features | 9 | 10.5 |
Additional collateral for derivative instruments with credit-risk-related contingent features | $ 3.5 | $ 3.1 |
Fair Value, Measurements From B
Fair Value, Measurements From Brokers or Third Party Pricing Services (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Financial assets | ||
Available-for-sale, at fair value | $ 266,406 | $ 257,442 |
Derivatives (trading and other assets) | 114,041 | 88,474 |
Financial liabilities | ||
Derivatives (liabilities) | (107,681) | (83,781) |
Brokers [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial assets | ||
Trading assets (excluding derivatives) | 0 | 0 |
Available-for-sale, at fair value | 0 | 0 |
Derivatives (trading and other assets) | 0 | 0 |
Financial liabilities | ||
Derivatives (liabilities) | 0 | 0 |
Other liabilities | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 1 [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 1 [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-Backed Securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 1 [Member] | Other debt securities | ||
Financial assets | ||
Available-for-sale, at fair value | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial assets | ||
Trading assets (excluding derivatives) | 0 | 0 |
Available-for-sale, at fair value | 457 | 1,187 |
Derivatives (trading and other assets) | 0 | 1 |
Financial liabilities | ||
Derivatives (liabilities) | 0 | (1) |
Other liabilities | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 457 | 1,187 |
Brokers [Member] | Fair Value, Inputs, Level 2 [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 2 [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-Backed Securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 152 | 152 |
Brokers [Member] | Fair Value, Inputs, Level 2 [Member] | Other debt securities | ||
Financial assets | ||
Available-for-sale, at fair value | 305 | 1,035 |
Brokers [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial assets | ||
Trading assets (excluding derivatives) | 0 | 0 |
Available-for-sale, at fair value | 463 | 601 |
Derivatives (trading and other assets) | 0 | 0 |
Financial liabilities | ||
Derivatives (liabilities) | 0 | 0 |
Other liabilities | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 463 | 601 |
Brokers [Member] | Fair Value, Inputs, Level 3 [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 3 [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-Backed Securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 3 [Member] | Other debt securities | ||
Financial assets | ||
Available-for-sale, at fair value | 463 | 601 |
Brokers [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 0 | 0 |
Third party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial assets | ||
Trading assets (excluding derivatives) | 0 | 2 |
Available-for-sale, at fair value | 29,430 | 19,899 |
Derivatives (trading and other assets) | 0 | 0 |
Financial liabilities | ||
Derivatives (liabilities) | 0 | 0 |
Other liabilities | 0 | 0 |
Third party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 29,430 | 19,899 |
Third party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 29,430 | 19,899 |
Third party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 0 | 0 |
Third party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-Backed Securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 0 | 0 |
Third party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Other debt securities | ||
Financial assets | ||
Available-for-sale, at fair value | 0 | 0 |
Third party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 0 | 0 |
Third party pricing services [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial assets | ||
Trading assets (excluding derivatives) | 7 | 105 |
Available-for-sale, at fair value | 229,513 | 227,070 |
Derivatives (trading and other assets) | 228 | 290 |
Financial liabilities | ||
Derivatives (liabilities) | (224) | (292) |
Other liabilities | (1) | (1) |
Third party pricing services [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 229,019 | 226,501 |
Third party pricing services [Member] | Fair Value, Inputs, Level 2 [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 5,993 | 5,905 |
Third party pricing services [Member] | Fair Value, Inputs, Level 2 [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 47,506 | 42,666 |
Third party pricing services [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-Backed Securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 127,541 | 135,997 |
Third party pricing services [Member] | Fair Value, Inputs, Level 2 [Member] | Other debt securities | ||
Financial assets | ||
Available-for-sale, at fair value | 47,979 | 41,933 |
Third party pricing services [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 494 | 569 |
Third party pricing services [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial assets | ||
Trading assets (excluding derivatives) | 0 | 0 |
Available-for-sale, at fair value | 587 | 735 |
Derivatives (trading and other assets) | 0 | 0 |
Financial liabilities | ||
Derivatives (liabilities) | 0 | 0 |
Other liabilities | 0 | 0 |
Third party pricing services [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 587 | 735 |
Third party pricing services [Member] | Fair Value, Inputs, Level 3 [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 0 | 0 |
Third party pricing services [Member] | Fair Value, Inputs, Level 3 [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 54 | 61 |
Third party pricing services [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-Backed Securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 84 | 133 |
Third party pricing services [Member] | Fair Value, Inputs, Level 3 [Member] | Other debt securities | ||
Financial assets | ||
Available-for-sale, at fair value | 449 | 541 |
Third party pricing services [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | $ 0 | $ 0 |
Fair Value, Assets and Liabilit
Fair Value, Assets and Liabilities Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading Securities, Change in Unrealized Holding Gain (Loss) | $ (985) | $ 90 | $ 211 |
Assets: | |||
Available-for-sale, at fair value | 266,406 | 257,442 | |
Mortgages held for sale | 17,627 | 15,565 | |
Loans held for sale | 0 | 1 | |
Loans | 5,529 | 5,788 | |
Mortgage servicing rights | 11,778 | 12,738 | |
Derivatives (trading and other assets) | 114,041 | 88,474 | |
Fair value asset derivatives, net | 19,899 | 22,605 | |
Other assets, carried at fair value | 2,745 | 2,512 | |
Liabilities: | |||
Total derivative liabilities | (107,681) | (83,781) | |
Fair value liability derivatives, net | (15,395) | (18,738) | |
Interest rate contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 92,013 | 63,698 | |
Fair value asset derivatives, net | 7,620 | 7,647 | |
Liabilities: | |||
Total derivative liabilities | (85,655) | (60,059) | |
Fair value liability derivatives, net | (5,527) | (5,665) | |
Commodity contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 5,218 | 7,461 | |
Fair value asset derivatives, net | 4,218 | 6,228 | |
Liabilities: | |||
Total derivative liabilities | (6,042) | (7,702) | |
Fair value liability derivatives, net | (4,977) | (6,243) | |
Equity contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 7,809 | 9,005 | |
Fair value asset derivatives, net | 4,998 | 6,163 | |
Liabilities: | |||
Total derivative liabilities | (5,123) | (7,038) | |
Fair value liability derivatives, net | (2,870) | (4,193) | |
Foreign exchange contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 8,343 | 7,404 | |
Fair value asset derivatives, net | 2,939 | 2,481 | |
Liabilities: | |||
Total derivative liabilities | (10,107) | (7,827) | |
Fair value liability derivatives, net | (1,786) | (2,316) | |
Other contract [Member] | |||
Liabilities: | |||
Total derivative liabilities | (70) | (44) | |
Fair value liability derivatives, net | (70) | (44) | |
Fair Value, Measurements, Recurring [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 57,837 | 59,914 | |
Total trading assets (excluding derivatives) | 58,691 | 61,367 | |
Available-for-sale, at fair value | 266,406 | 257,442 | |
Mortgages held for sale | 17,627 | 15,565 | |
Loans held for sale | 0 | 1 | |
Loans | 5,529 | 5,788 | |
Mortgage servicing rights | 11,778 | 12,738 | |
Fair value asset derivatives, netting | (94,142) | (65,869) | |
Fair value asset derivatives, net | 19,899 | 22,605 | |
Other assets, carried at fair value | 2,808 | 2,593 | |
Total assets recorded at fair value | 382,738 | 378,099 | |
Liabilities: | |||
Fair value liability derivatives, netting | 92,286 | 65,043 | |
Fair value liability derivatives, net | (15,395) | (18,738) | |
Total short sale liabilities | (17,433) | (16,100) | |
Other liabilities | (20) | (28) | |
Total liabilities recorded at fair value | (32,848) | (34,866) | |
Fair Value, Measurements, Recurring [Member] | Interest rate contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 92,013 | 63,698 | |
Liabilities: | |||
Total derivative liabilities | (85,655) | (60,059) | |
Fair Value, Measurements, Recurring [Member] | Commodity contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 5,218 | 7,461 | |
Liabilities: | |||
Total derivative liabilities | (6,042) | (7,702) | |
Fair Value, Measurements, Recurring [Member] | Equity contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 7,809 | 9,005 | |
Liabilities: | |||
Total derivative liabilities | (5,123) | (7,038) | |
Fair Value, Measurements, Recurring [Member] | Foreign exchange contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 8,343 | 7,404 | |
Liabilities: | |||
Total derivative liabilities | (10,107) | (7,827) | |
Fair Value, Measurements, Recurring [Member] | Credit contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 658 | 906 | |
Liabilities: | |||
Total derivative liabilities | (684) | (1,111) | |
Fair Value, Measurements, Recurring [Member] | Other contract [Member] | |||
Liabilities: | |||
Total derivative liabilities | (70) | (44) | |
Fair Value, Measurements, Recurring [Member] | Debt Securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 264,465 | 253,766 | |
Fair Value, Measurements, Recurring [Member] | Securities of U.S. Treasury and federal agencies [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 14,441 | 14,392 | |
Available-for-sale, at fair value | 35,423 | 25,804 | |
Liabilities: | |||
Total short sale liabilities | (10,722) | (8,679) | |
Fair Value, Measurements, Recurring [Member] | Securities of U.S. states and political subdivisions [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 1,648 | 1,544 | |
Available-for-sale, at fair value | 49,423 | 44,944 | |
Liabilities: | |||
Total short sale liabilities | 0 | (26) | |
Fair Value, Measurements, Recurring [Member] | Collateralized loan and other debt obligations [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 803 | 719 | |
Available-for-sale, at fair value | 30,054 | 25,361 | |
Fair Value, Measurements, Recurring [Member] | Corporate debt securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 7,062 | 7,571 | |
Available-for-sale, at fair value | 15,490 | 14,786 | |
Liabilities: | |||
Total short sale liabilities | (4,292) | (5,055) | |
Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 21,377 | 16,273 | |
Available-for-sale, at fair value | 127,859 | 136,352 | |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 105,023 | 110,089 | |
Fair Value, Measurements, Recurring [Member] | Residential [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 8,128 | 9,269 | |
Fair Value, Measurements, Recurring [Member] | Commercial [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 14,708 | 16,994 | |
Fair Value, Measurements, Recurring [Member] | Asset-backed securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 1,088 | 855 | |
Available-for-sale, at fair value | 6,206 | 6,499 | |
Fair Value, Measurements, Recurring [Member] | Auto loans and leases [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 262 | 276 | |
Fair Value, Measurements, Recurring [Member] | Home equity loans [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 428 | 662 | |
Fair Value, Measurements, Recurring [Member] | Other asset-backed securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 5,516 | 5,561 | |
Fair Value, Measurements, Recurring [Member] | Other trading assets [Member] | |||
Assets: | |||
Other trading assets | 854 | 1,453 | |
Fair Value, Measurements, Recurring [Member] | Other debt securities | |||
Assets: | |||
Available-for-sale, at fair value | 10 | 20 | |
Fair Value, Measurements, Recurring [Member] | Other short sale liabilities [Member] | |||
Liabilities: | |||
Total short sale liabilities | (21) | (79) | |
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 11,418 | 18,560 | |
Available-for-sale, at fair value | 1,941 | 3,676 | |
Liabilities: | |||
Total short sale liabilities | (2,398) | (2,261) | |
Fair Value, Measurements, Recurring [Member] | Perpetual preferred securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 940 | 1,700 | |
Fair Value, Measurements, Recurring [Member] | Other marketable equity securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 1,001 | 1,976 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 22,381 | 29,018 | |
Total trading assets (excluding derivatives) | 22,381 | 29,018 | |
Available-for-sale, at fair value | 30,941 | 22,402 | |
Mortgages held for sale | 0 | 0 | |
Loans held for sale | 0 | 0 | |
Loans | 0 | 0 | |
Mortgage servicing rights | 0 | 0 | |
Fair value asset derivatives, netting | 0 | 0 | |
Fair value asset derivatives, net | 4,099 | 4,194 | |
Other assets, carried at fair value | 0 | 0 | |
Total assets recorded at fair value | 57,421 | 55,614 | |
Liabilities: | |||
Fair value liability derivatives, netting | 0 | 0 | |
Fair value liability derivatives, net | (1,125) | (1,379) | |
Total short sale liabilities | (12,150) | (9,302) | |
Other liabilities | 0 | 0 | |
Total liabilities recorded at fair value | (13,275) | (10,681) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Interest rate contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 85 | 27 | |
Liabilities: | |||
Total derivative liabilities | (43) | (29) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Commodity contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 0 | 0 | |
Liabilities: | |||
Total derivative liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Equity contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 3,900 | 4,102 | |
Liabilities: | |||
Total derivative liabilities | (969) | (1,290) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Foreign exchange contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 114 | 65 | |
Liabilities: | |||
Total derivative liabilities | (113) | (60) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Credit contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 0 | 0 | |
Liabilities: | |||
Total derivative liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other contract [Member] | |||
Liabilities: | |||
Total derivative liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 29,494 | 19,982 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Securities of U.S. Treasury and federal agencies [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 11,052 | 10,506 | |
Available-for-sale, at fair value | 29,430 | 19,899 | |
Liabilities: | |||
Total short sale liabilities | (9,754) | (7,043) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Securities of U.S. states and political subdivisions [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 0 | 0 | |
Available-for-sale, at fair value | 0 | 0 | |
Liabilities: | |||
Total short sale liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Collateralized loan and other debt obligations [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 0 | 0 | |
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate debt securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 0 | 0 | |
Available-for-sale, at fair value | 64 | 83 | |
Liabilities: | |||
Total short sale liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-Backed Securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 0 | 0 | |
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Residential [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Commercial [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Asset-backed securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 0 | 0 | |
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Auto loans and leases [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Home equity loans [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other asset-backed securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other trading assets [Member] | |||
Assets: | |||
Other trading assets | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other debt securities | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other short sale liabilities [Member] | |||
Liabilities: | |||
Total short sale liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 11,329 | 18,512 | |
Available-for-sale, at fair value | 1,447 | 2,420 | |
Liabilities: | |||
Total short sale liabilities | (2,396) | (2,259) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Perpetual preferred securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 446 | 468 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other marketable equity securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 1,001 | 1,952 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 35,010 | 30,301 | |
Total trading assets (excluding derivatives) | 35,830 | 31,699 | |
Available-for-sale, at fair value | 230,870 | 229,011 | |
Mortgages held for sale | 16,165 | 13,252 | |
Loans held for sale | 0 | 1 | |
Loans | 0 | 0 | |
Mortgage servicing rights | 0 | 0 | |
Fair value asset derivatives, netting | 0 | 0 | |
Fair value asset derivatives, net | 108,236 | 82,067 | |
Other assets, carried at fair value | 0 | 0 | |
Total assets recorded at fair value | 391,101 | 356,030 | |
Liabilities: | |||
Fair value liability derivatives, netting | 0 | 0 | |
Fair value liability derivatives, net | (105,082) | (80,166) | |
Total short sale liabilities | (5,283) | (6,792) | |
Other liabilities | 0 | 0 | |
Total liabilities recorded at fair value | (110,365) | (86,958) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest rate contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 91,468 | 63,306 | |
Liabilities: | |||
Total derivative liabilities | (85,595) | (59,958) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commodity contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 5,191 | 7,438 | |
Liabilities: | |||
Total derivative liabilities | (6,019) | (7,680) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Equity contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 3,014 | 3,544 | |
Liabilities: | |||
Total derivative liabilities | (3,155) | (4,305) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Foreign exchange contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 8,206 | 7,339 | |
Liabilities: | |||
Total derivative liabilities | (9,971) | (7,767) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Credit contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 357 | 440 | |
Liabilities: | |||
Total derivative liabilities | (342) | (456) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other contract [Member] | |||
Liabilities: | |||
Total derivative liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 230,376 | 228,418 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Securities of U.S. Treasury and federal agencies [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 3,389 | 3,886 | |
Available-for-sale, at fair value | 5,993 | 5,905 | |
Liabilities: | |||
Total short sale liabilities | (968) | (1,636) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Securities of U.S. states and political subdivisions [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 1,639 | 1,537 | |
Available-for-sale, at fair value | 47,506 | 42,667 | |
Liabilities: | |||
Total short sale liabilities | 0 | (26) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Collateralized loan and other debt obligations [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 413 | 274 | |
Available-for-sale, at fair value | 29,329 | 24,274 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate debt securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 7,016 | 7,517 | |
Available-for-sale, at fair value | 15,045 | 14,451 | |
Liabilities: | |||
Total short sale liabilities | (4,292) | (5,055) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-Backed Securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 21,377 | 16,273 | |
Available-for-sale, at fair value | 127,775 | 136,219 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 105,023 | 110,089 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Residential [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 8,128 | 9,245 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commercial [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 14,624 | 16,885 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Asset-backed securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 1,088 | 776 | |
Available-for-sale, at fair value | 4,718 | 4,882 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Auto loans and leases [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 14 | 31 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Home equity loans [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 428 | 662 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other asset-backed securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 4,276 | 4,189 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other trading assets [Member] | |||
Assets: | |||
Other trading assets | 820 | 1,398 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other debt securities | |||
Assets: | |||
Available-for-sale, at fair value | 10 | 20 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other short sale liabilities [Member] | |||
Liabilities: | |||
Total short sale liabilities | (21) | (73) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 88 | 38 | |
Available-for-sale, at fair value | 494 | 593 | |
Liabilities: | |||
Total short sale liabilities | (2) | (2) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Perpetual preferred securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 494 | 569 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other marketable equity securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 24 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 446 | 595 | |
Total trading assets (excluding derivatives) | 480 | 650 | |
Available-for-sale, at fair value | 4,595 | 6,029 | |
Mortgages held for sale | 1,462 | 2,313 | |
Loans held for sale | 0 | 0 | |
Loans | 5,529 | 5,788 | |
Mortgage servicing rights | 11,778 | 12,738 | |
Fair value asset derivatives, netting | 0 | 0 | |
Fair value asset derivatives, net | 1,706 | 2,213 | |
Other assets, carried at fair value | 2,808 | 2,593 | |
Total assets recorded at fair value | 28,358 | 32,324 | |
Liabilities: | |||
Fair value liability derivatives, netting | 0 | 0 | |
Fair value liability derivatives, net | (1,474) | (2,236) | |
Total short sale liabilities | 0 | (6) | |
Other liabilities | (20) | (28) | |
Total liabilities recorded at fair value | (1,494) | (2,270) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest rate contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 460 | 365 | |
Liabilities: | |||
Total derivative liabilities | (17) | (72) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commodity contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 27 | 23 | |
Liabilities: | |||
Total derivative liabilities | (23) | (22) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 895 | 1,359 | |
Liabilities: | |||
Total derivative liabilities | (999) | (1,443) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Foreign exchange contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 23 | 0 | |
Liabilities: | |||
Total derivative liabilities | (23) | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Credit contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 301 | 466 | |
Liabilities: | |||
Total derivative liabilities | (342) | (655) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other contract [Member] | |||
Liabilities: | |||
Total derivative liabilities | (70) | (44) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 4,595 | 5,366 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Securities of U.S. Treasury and federal agencies [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 0 | 0 | |
Available-for-sale, at fair value | 0 | 0 | |
Liabilities: | |||
Total short sale liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Securities of U.S. states and political subdivisions [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 9 | 7 | |
Available-for-sale, at fair value | 1,917 | 2,277 | |
Liabilities: | |||
Total short sale liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Collateralized loan and other debt obligations [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 390 | 445 | |
Available-for-sale, at fair value | 725 | 1,087 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate debt securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 46 | 54 | |
Available-for-sale, at fair value | 381 | 252 | |
Liabilities: | |||
Total short sale liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-Backed Securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 0 | 0 | |
Available-for-sale, at fair value | 84 | 133 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Residential [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 24 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 84 | 109 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Asset-backed securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 0 | 79 | |
Available-for-sale, at fair value | 1,488 | 1,617 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Auto loans and leases [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 248 | 245 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Home equity loans [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other asset-backed securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 1,240 | 1,372 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other trading assets [Member] | |||
Assets: | |||
Other trading assets | 34 | 55 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other debt securities | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other short sale liabilities [Member] | |||
Liabilities: | |||
Total short sale liabilities | 0 | (6) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 1 | 10 | |
Available-for-sale, at fair value | 0 | 663 | |
Liabilities: | |||
Total short sale liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Perpetual preferred securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 663 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other marketable equity securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 0 | |
Collateralized debt obligations [Member] | |||
Assets: | |||
Available-for-sale, at fair value | $ 316 | $ 500 |
Fair Value, Transfers Between F
Fair Value, Transfers Between Fair Value Levels (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Total | $ 0 | $ 0 | $ 0 | $ 0 |
Trading assets (excluding derivatives) [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Total | 0 | 0 | 0 | 0 |
Available-for-sale securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Total | 0 | 0 | 0 | 0 |
Mortgages held for sale [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Total | 0 | 0 | 0 | 0 |
Loans [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Total | 0 | 0 | 0 | 0 |
Net derivative assets and liabilities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Total | 0 | 0 | 0 | 0 |
Short sale liabilities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Total | 0 | 0 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Transfer In | 0 | 0 | 15 | 0 |
Transfer Out | (7) | 0 | (10) | (8) |
Fair Value, Inputs, Level 1 [Member] | Trading assets (excluding derivatives) [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Transfer In | 0 | 0 | 16 | 0 |
Transfer Out | (8) | 0 | (11) | 0 |
Fair Value, Inputs, Level 1 [Member] | Available-for-sale securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Transfer In | 0 | 0 | 0 | 0 |
Transfer Out | 0 | 0 | 0 | 8 |
Fair Value, Inputs, Level 1 [Member] | Mortgages held for sale [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Transfer In | 0 | 0 | 0 | 0 |
Transfer Out | 0 | 0 | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Loans [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Transfer In | 0 | 0 | 0 | 0 |
Transfer Out | 0 | 0 | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Net derivative assets and liabilities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Transfer In | 0 | 0 | 0 | 0 |
Transfer Out | 0 | 0 | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Short sale liabilities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Transfer In | 0 | (1) | ||
Transfer Out | 1 | 1 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Transfer In | 17 | 241 | 691 | 470 |
Transfer Out | (70) | 46 | (168) | (596) |
Fair Value, Inputs, Level 2 [Member] | Trading assets (excluding derivatives) [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Transfer In | 10 | 15 | 103 | 55 |
Transfer Out | (10) | (1) | (26) | (29) |
Fair Value, Inputs, Level 2 [Member] | Available-for-sale securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Transfer In | 0 | 218 | 76 | 323 |
Transfer Out | 0 | 0 | 0 | (148) |
Fair Value, Inputs, Level 2 [Member] | Mortgages held for sale [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Transfer In | 11 | 24 | 464 | 146 |
Transfer Out | (60) | (36) | (155) | (232) |
Fair Value, Inputs, Level 2 [Member] | Loans [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Transfer In | 0 | 0 | 0 | 49 |
Transfer Out | 0 | 0 | 0 | (270) |
Fair Value, Inputs, Level 2 [Member] | Net derivative assets and liabilities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Transfer In | (3) | (16) | 49 | (103) |
Transfer Out | 0 | 83 | 12 | 83 |
Fair Value, Inputs, Level 2 [Member] | Short sale liabilities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Transfer In | (1) | (1) | ||
Transfer Out | 0 | 1 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Transfer In | 70 | (46) | 154 | 596 |
Transfer Out | (10) | (241) | (682) | (462) |
Fair Value, Inputs, Level 3 [Member] | Trading assets (excluding derivatives) [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Transfer In | 10 | 1 | 11 | 29 |
Transfer Out | (2) | (15) | (93) | (55) |
Fair Value, Inputs, Level 3 [Member] | Available-for-sale securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Fair Value Level, Transfer Out, Amount Except For | 640 | |||
Transfer In | 0 | 0 | 0 | 148 |
Transfer Out | 0 | (218) | (76) | (315) |
Fair Value, Inputs, Level 3 [Member] | Mortgages held for sale [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Transfer In | 60 | 36 | 155 | 232 |
Transfer Out | (11) | (24) | (464) | (146) |
Fair Value, Inputs, Level 3 [Member] | Loans [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Transfer In | 0 | 0 | 0 | 270 |
Transfer Out | 0 | 0 | 0 | (49) |
Fair Value, Inputs, Level 3 [Member] | Net derivative assets and liabilities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Transfer In | 0 | (83) | (12) | (83) |
Transfer Out | 3 | $ 16 | (49) | $ 103 |
Fair Value, Inputs, Level 3 [Member] | Short sale liabilities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Transfer In | 0 | 0 | ||
Transfer Out | $ 0 | $ 0 |
Fair Value, Assets and Liabi113
Fair Value, Assets and Liabilities Measured on Recurring Basis Level 3 Reconciliation (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Trading securities and trading assets, excluding derivatives [Member] | ||||
Assets: | ||||
Balance, beginning of period | $ 511 | $ 805 | $ 650 | $ 823 |
Net gains (losses) included in net income | (5) | 12 | 61 | 44 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (34) | (133) | (149) | (171) |
Transfers into Level 3 | 10 | 1 | 11 | 29 |
Transfers out of Level 3 | (2) | (15) | (93) | (55) |
Balance, end of period | 480 | 670 | 480 | 670 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (27) | (10) | (12) | (15) |
Trading assets (excluding derivatives) [Member] | ||||
Assets: | ||||
Balance, beginning of period | 449 | 756 | 595 | 769 |
Net gains (losses) included in net income | (4) | 14 | 57 | 51 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (7) | (133) | (124) | (171) |
Transfers into Level 3 | 10 | 1 | 10 | 29 |
Transfers out of Level 3 | (2) | (14) | (92) | (54) |
Balance, end of period | 446 | 624 | 446 | 624 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (2) | (10) | 3 | (16) |
Trading assets (excluding derivatives) [Member] | Securities of U.S. states and political subdivisions [Member] | ||||
Assets: | ||||
Balance, beginning of period | 8 | 8 | 7 | 39 |
Net gains (losses) included in net income | 0 | 0 | 0 | 0 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 1 | (1) | 2 | (1) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | (31) |
Balance, end of period | 9 | 7 | 9 | 7 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | 0 |
Trading assets (excluding derivatives) [Member] | Mortgage-Backed Securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 0 | 1 | 0 | 1 |
Net gains (losses) included in net income | 0 | 0 | 0 | 0 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 2 | 0 | 2 |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 0 | 3 | 0 | 3 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | 0 |
Trading assets (excluding derivatives) [Member] | Collateralized loan and other debt obligations [Member] | ||||
Assets: | ||||
Balance, beginning of period | 407 | 581 | 445 | 541 |
Net gains (losses) included in net income | (3) | 22 | 39 | 36 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (14) | (109) | (94) | (83) |
Transfers into Level 3 | 0 | 0 | 0 | 4 |
Transfers out of Level 3 | 0 | (11) | 0 | (15) |
Balance, end of period | 390 | 483 | 390 | 483 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | (7) | 5 | (38) |
Trading assets (excluding derivatives) [Member] | Corporate debt securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 33 | 62 | 54 | 53 |
Net gains (losses) included in net income | (1) | (6) | 1 | (9) |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 6 | (15) | (8) | (26) |
Transfers into Level 3 | 10 | 1 | 10 | 25 |
Transfers out of Level 3 | (2) | (3) | (11) | (4) |
Balance, end of period | 46 | 39 | 46 | 39 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (2) | (1) | (2) | (1) |
Trading assets (excluding derivatives) [Member] | Asset-backed securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 0 | 91 | 79 | 122 |
Net gains (losses) included in net income | 0 | (2) | 16 | 24 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | (7) | (14) | (60) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | (81) | (4) |
Balance, end of period | 0 | 82 | 0 | 82 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | (2) | 0 | 24 |
Trading assets (excluding derivatives) [Member] | Equity Securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 1 | 13 | 10 | 13 |
Net gains (losses) included in net income | 0 | 0 | 1 | 0 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | (3) | (10) | (3) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 1 | 10 | 1 | 10 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | (1) |
Other trading assets [Member] | ||||
Assets: | ||||
Balance, beginning of period | 62 | 49 | 55 | 54 |
Net gains (losses) included in net income | (1) | (2) | 4 | (7) |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (27) | 0 | (25) | 0 |
Transfers into Level 3 | 0 | 0 | 1 | 0 |
Transfers out of Level 3 | 0 | (1) | (1) | (1) |
Balance, end of period | 34 | 46 | 34 | 46 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (25) | 0 | (15) | 1 |
Mortgages held for sale [Member] | ||||
Assets: | ||||
Balance, beginning of period | 1,623 | 2,396 | 2,313 | 2,374 |
Net gains (losses) included in net income | 16 | (30) | 53 | (7) |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (226) | (95) | (595) | (170) |
Transfers into Level 3 | 60 | 36 | 155 | 232 |
Transfers out of Level 3 | (11) | (24) | (464) | (146) |
Balance, end of period | 1,462 | 2,283 | 1,462 | 2,283 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 16 | (31) | 14 | (9) |
Loans [Member] | ||||
Assets: | ||||
Balance, beginning of period | 5,651 | 5,926 | 5,788 | 5,723 |
Net gains (losses) included in net income | (4) | (44) | (51) | (39) |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (118) | (33) | (208) | (56) |
Transfers into Level 3 | 0 | 0 | 0 | 270 |
Transfers out of Level 3 | 0 | 0 | 0 | (49) |
Balance, end of period | 5,529 | 5,849 | 5,529 | 5,849 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (2) | (38) | (37) | (26) |
Mortgage servicing rights [Member] | ||||
Assets: | ||||
Balance, beginning of period | 12,661 | 13,900 | 12,738 | 15,580 |
Net gains (losses) included in net income | (1,337) | (209) | (2,144) | (2,449) |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 454 | 340 | 1,184 | 900 |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 11,778 | 14,031 | 11,778 | 14,031 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (833) | 253 | (553) | (1,023) |
Derivative [Member] | ||||
Assets and Liabilities: | ||||
Balance, beginning of period | (85) | (142) | (23) | (465) |
Net gains (losses) included in net income | 541 | 259 | 1,025 | 1,178 |
Total net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (227) | (312) | (709) | (995) |
Transfers into Level 3 | 0 | (83) | (12) | (83) |
Transfers out of Level 3 | 3 | 16 | (49) | 103 |
Balance, end of period | 232 | (262) | 232 | (262) |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 305 | 111 | 316 | 194 |
Derivative [Member] | Interest rate contract [Member] | ||||
Assets and Liabilities: | ||||
Balance, beginning of period | 252 | 183 | 293 | (40) |
Net gains (losses) included in net income | 562 | 165 | 987 | 1,078 |
Total net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (371) | (234) | (837) | (924) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 443 | 114 | 443 | 114 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 219 | 55 | 240 | 166 |
Derivative [Member] | Commodity contract [Member] | ||||
Assets and Liabilities: | ||||
Balance, beginning of period | 3 | 2 | 1 | (10) |
Net gains (losses) included in net income | 1 | (1) | 3 | (22) |
Total net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | (1) | 2 | (2) |
Transfers into Level 3 | 0 | 0 | (2) | (3) |
Transfers out of Level 3 | 0 | 0 | 0 | 37 |
Balance, end of period | 4 | 0 | 4 | 0 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 2 | 0 | 4 | (1) |
Derivative [Member] | Equity contract [Member] | ||||
Assets and Liabilities: | ||||
Balance, beginning of period | (185) | (50) | (84) | (46) |
Net gains (losses) included in net income | 15 | 99 | 65 | 118 |
Total net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 63 | (122) | (26) | (198) |
Transfers into Level 3 | 0 | (83) | (10) | (80) |
Transfers out of Level 3 | 3 | 16 | (49) | 66 |
Balance, end of period | (104) | (140) | (104) | (140) |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 109 | 46 | 96 | (1) |
Derivative [Member] | Foreign exchange contract [Member] | ||||
Assets and Liabilities: | ||||
Balance, beginning of period | 0 | 2 | 0 | 9 |
Net gains (losses) included in net income | 0 | 0 | 0 | 5 |
Total net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | (2) | 0 | (14) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 0 | 0 | 0 | 0 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | 0 |
Derivative [Member] | Credit contract [Member] | ||||
Assets and Liabilities: | ||||
Balance, beginning of period | (117) | (266) | (189) | (375) |
Net gains (losses) included in net income | (5) | 8 | (4) | 21 |
Total net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 81 | 47 | 152 | 143 |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | (41) | (211) | (41) | (211) |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 7 | 10 | 2 | 30 |
Derivative [Member] | Other contract [Member] | ||||
Assets and Liabilities: | ||||
Balance, beginning of period | (38) | (13) | (44) | (3) |
Net gains (losses) included in net income | (32) | (12) | (26) | (22) |
Total net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 0 | 0 | 0 |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | (70) | (25) | (70) | (25) |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (32) | 0 | (26) | 0 |
Other assets [Member] | ||||
Assets: | ||||
Balance, beginning of period | 2,711 | 2,005 | 2,593 | 1,503 |
Net gains (losses) included in net income | 105 | 62 | 136 | (31) |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (8) | (6) | 79 | 589 |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 2,808 | 2,061 | 2,808 | 2,061 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (5) | 3 | (4) | (3) |
Short sale liabilities [Member] | ||||
Liabilities: | ||||
Balance, beginning of period | (1) | 0 | (6) | 0 |
Net gains (losses) included in net income | 0 | 0 | 0 | (1) |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 1 | (5) | 6 | (4) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 0 | (5) | 0 | (5) |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | 0 |
Other liabilities [Member] | ||||
Liabilities: | ||||
Balance, beginning of period | (30) | (45) | (28) | (39) |
Net gains (losses) included in net income | 0 | (3) | (2) | (10) |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | |
Purchases, sales, issuances and settlements, net | 10 | 19 | 10 | 20 |
Transfers into Level 3 | 0 | 0 | 0 | |
Transfers out of Level 3 | 0 | 0 | 0 | |
Balance, end of period | (20) | (29) | (20) | (29) |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | (1) |
Available-for-sale securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 4,830 | 7,223 | 6,029 | 7,995 |
Net gains (losses) included in net income | 81 | 46 | 158 | 156 |
Net gains (losses) included in other comprehensive income | (109) | (112) | (142) | (141) |
Purchases, sales, issuances and settlements, net | (207) | (341) | (734) | (1,245) |
Transfers into Level 3 | 0 | 0 | 0 | 148 |
Transfers out of Level 3 | 0 | (218) | (716) | (315) |
Balance, end of period | 4,595 | 6,598 | 4,595 | 6,598 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (6) | 0 | (9) | (6) |
Available-for-sale securities [Member] | Debt Securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 4,830 | 6,523 | 5,366 | 7,266 |
Net gains (losses) included in net income | 81 | 42 | 155 | 144 |
Net gains (losses) included in other comprehensive income | (109) | (95) | (140) | (114) |
Purchases, sales, issuances and settlements, net | (207) | (322) | (710) | (1,199) |
Transfers into Level 3 | 0 | 0 | 0 | 148 |
Transfers out of Level 3 | 0 | (218) | (76) | (315) |
Balance, end of period | 4,595 | 5,930 | 4,595 | 5,930 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (6) | 0 | (9) | (6) |
Available-for-sale securities [Member] | Securities of U.S. states and political subdivisions [Member] | ||||
Assets: | ||||
Balance, beginning of period | 1,889 | 3,169 | 2,277 | 3,214 |
Net gains (losses) included in net income | 1 | 2 | 4 | 11 |
Net gains (losses) included in other comprehensive income | 1 | (75) | (14) | (66) |
Purchases, sales, issuances and settlements, net | 26 | (226) | (274) | (251) |
Transfers into Level 3 | 0 | 0 | 0 | 59 |
Transfers out of Level 3 | 0 | (218) | (76) | (315) |
Balance, end of period | 1,917 | 2,652 | 1,917 | 2,652 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | (5) | (2) |
Available-for-sale securities [Member] | Mortgage-Backed Securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 103 | 177 | 133 | 202 |
Net gains (losses) included in net income | 5 | 12 | 10 | 21 |
Net gains (losses) included in other comprehensive income | (7) | (10) | (15) | (4) |
Purchases, sales, issuances and settlements, net | (17) | (37) | (44) | (77) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 84 | 142 | 84 | 142 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (2) | 0 | (2) | (2) |
Available-for-sale securities [Member] | Residential [Member] | ||||
Assets: | ||||
Balance, beginning of period | 0 | 41 | 24 | 64 |
Net gains (losses) included in net income | 0 | 0 | 4 | 10 |
Net gains (losses) included in other comprehensive income | 0 | (1) | (6) | (3) |
Purchases, sales, issuances and settlements, net | 0 | (9) | (22) | (40) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 0 | 31 | 0 | 31 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | 0 |
Available-for-sale securities [Member] | Commercial [Member] | ||||
Assets: | ||||
Balance, beginning of period | 103 | 136 | 109 | 138 |
Net gains (losses) included in net income | 5 | 12 | 6 | 11 |
Net gains (losses) included in other comprehensive income | (7) | (9) | (9) | (1) |
Purchases, sales, issuances and settlements, net | (17) | (28) | (22) | (37) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 84 | 111 | 84 | 111 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (2) | 0 | (2) | (2) |
Available-for-sale securities [Member] | Collateralized loan and other debt obligations [Member] | ||||
Assets: | ||||
Balance, beginning of period | 924 | 1,326 | 1,087 | 1,420 |
Net gains (losses) included in net income | 71 | 14 | 132 | 84 |
Net gains (losses) included in other comprehensive income | (76) | 7 | (87) | (14) |
Purchases, sales, issuances and settlements, net | (194) | (158) | (407) | (301) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 725 | 1,189 | 725 | 1,189 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | (2) |
Available-for-sale securities [Member] | Corporate debt securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 334 | 284 | 252 | 281 |
Net gains (losses) included in net income | 4 | 12 | 7 | 25 |
Net gains (losses) included in other comprehensive income | (9) | (10) | (12) | (15) |
Purchases, sales, issuances and settlements, net | 52 | (29) | 134 | (34) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 381 | 257 | 381 | 257 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (4) | 0 | (2) | 0 |
Available-for-sale securities [Member] | Asset-backed securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 1,580 | 1,567 | 1,617 | 2,149 |
Net gains (losses) included in net income | 0 | 2 | 2 | 3 |
Net gains (losses) included in other comprehensive income | (18) | (7) | (12) | (15) |
Purchases, sales, issuances and settlements, net | (74) | 128 | (119) | (536) |
Transfers into Level 3 | 0 | 0 | 0 | 89 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 1,488 | 1,690 | 1,488 | 1,690 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | 0 |
Available-for-sale securities [Member] | Auto loans and leases [Member] | ||||
Assets: | ||||
Balance, beginning of period | 260 | 272 | 245 | 492 |
Net gains (losses) included in net income | 0 | 0 | 0 | 0 |
Net gains (losses) included in other comprehensive income | (12) | (19) | 3 | (24) |
Purchases, sales, issuances and settlements, net | 0 | 0 | 0 | (215) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 248 | 253 | 248 | 253 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | 0 |
Available-for-sale securities [Member] | Other asset-backed securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 1,320 | 1,295 | 1,372 | 1,657 |
Net gains (losses) included in net income | 0 | 2 | 2 | 3 |
Net gains (losses) included in other comprehensive income | (6) | 12 | (15) | 9 |
Purchases, sales, issuances and settlements, net | (74) | 128 | (119) | (321) |
Transfers into Level 3 | 0 | 0 | 0 | 89 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 1,240 | 1,437 | 1,240 | 1,437 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | 0 |
Available-for-sale securities [Member] | Equity Securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 0 | 700 | 663 | 729 |
Net gains (losses) included in net income | 0 | 4 | 3 | 12 |
Net gains (losses) included in other comprehensive income | 0 | (17) | (2) | (27) |
Purchases, sales, issuances and settlements, net | 0 | (19) | (24) | (46) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | (640) | 0 |
Balance, end of period | 0 | 668 | 0 | 668 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | 0 |
Available-for-sale securities [Member] | Perpetual preferred securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 0 | 700 | 663 | 729 |
Net gains (losses) included in net income | 0 | 4 | 3 | 8 |
Net gains (losses) included in other comprehensive income | 0 | (17) | (2) | (27) |
Purchases, sales, issuances and settlements, net | 0 | (19) | (24) | (42) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | (640) | 0 |
Balance, end of period | 0 | 668 | 0 | 668 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | 0 |
Available-for-sale securities [Member] | Other marketable equity securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 0 | 0 | 0 | 0 |
Net gains (losses) included in net income | 0 | 0 | 0 | 4 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 0 | 0 | (4) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 0 | 0 | 0 | 0 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | $ 0 | $ 0 | $ 0 | $ 0 |
Fair Value, Assets and Liabi114
Fair Value, Assets and Liabilities Measured on Recurring Basis Level 3 Reconciliation Breakout (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Trading securities and trading assets, excluding derivatives [Member] | ||||
Assets: | ||||
Purchases | $ 162 | $ 314 | $ 1,103 | $ 806 |
Sales | (195) | (428) | (1,232) | (939) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (1) | (19) | (20) | (38) |
Net | (34) | (133) | (149) | (171) |
Trading assets (excluding derivatives) [Member] | ||||
Assets: | ||||
Purchases | 162 | 314 | 1,100 | 805 |
Sales | (169) | (428) | (1,205) | (938) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | (19) | (19) | (38) |
Net | (7) | (133) | (124) | (171) |
Trading assets (excluding derivatives) [Member] | Securities of U.S. states and political subdivisions [Member] | ||||
Assets: | ||||
Purchases | 1 | 4 | 4 | 10 |
Sales | 0 | (5) | (2) | (10) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | (1) |
Net | 1 | (1) | 2 | (1) |
Trading assets (excluding derivatives) [Member] | Mortgage-Backed Securities [Member] | ||||
Assets: | ||||
Purchases | 0 | 3 | 0 | 3 |
Sales | 0 | (1) | 0 | (1) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Net | 0 | 2 | 0 | 2 |
Trading assets (excluding derivatives) [Member] | Collateralized loan and other debt obligations [Member] | ||||
Assets: | ||||
Purchases | 152 | 267 | 1,060 | 718 |
Sales | (166) | (376) | (1,154) | (797) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | (4) |
Net | (14) | (109) | (94) | (83) |
Trading assets (excluding derivatives) [Member] | Corporate debt securities [Member] | ||||
Assets: | ||||
Purchases | 9 | 36 | 36 | 59 |
Sales | (3) | (45) | (44) | (85) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | (6) | 0 | 0 |
Net | 6 | (15) | (8) | (26) |
Trading assets (excluding derivatives) [Member] | Asset-backed securities [Member] | ||||
Assets: | ||||
Purchases | 0 | 4 | 0 | 15 |
Sales | 0 | (1) | (5) | (45) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | (10) | (9) | (30) |
Net | 0 | (7) | (14) | (60) |
Trading assets (excluding derivatives) [Member] | Equity Securities [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | (3) | (10) | (3) |
Net | 0 | (3) | (10) | (3) |
Other trading assets [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 3 | 1 |
Sales | (26) | 0 | (27) | (1) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (1) | 0 | (1) | 0 |
Net | (27) | 0 | (25) | 0 |
Available-for-sale securities [Member] | ||||
Assets: | ||||
Purchases | 102 | 4 | 257 | 304 |
Sales | (89) | (57) | (268) | (206) |
Issuances | 291 | 246 | 823 | 638 |
Settlements | (511) | (534) | (1,546) | (1,981) |
Net | (207) | (341) | (734) | (1,245) |
Available-for-sale securities [Member] | Debt Securities [Member] | ||||
Assets: | ||||
Purchases | 102 | 4 | 257 | 304 |
Sales | (89) | (57) | (268) | (202) |
Issuances | 291 | 246 | 823 | 638 |
Settlements | (511) | (515) | (1,522) | (1,939) |
Net | (207) | (322) | (710) | (1,199) |
Available-for-sale securities [Member] | Securities of U.S. states and political subdivisions [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 73 |
Sales | 0 | 0 | (41) | (55) |
Issuances | 261 | 16 | 555 | 284 |
Settlements | (235) | (242) | (788) | (553) |
Net | 26 | (226) | (274) | (251) |
Available-for-sale securities [Member] | Mortgage-Backed Securities [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | (32) | (27) | (69) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (17) | (5) | (17) | (8) |
Net | (17) | (37) | (44) | (77) |
Available-for-sale securities [Member] | Residential [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | (9) | (22) | (38) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | (2) |
Net | 0 | (9) | (22) | (40) |
Available-for-sale securities [Member] | Commercial [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | (23) | (5) | (31) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (17) | (5) | (17) | (6) |
Net | (17) | (28) | (22) | (37) |
Available-for-sale securities [Member] | Collateralized loan and other debt obligations [Member] | ||||
Assets: | ||||
Purchases | 15 | 1 | 74 | 134 |
Sales | (86) | 0 | (188) | (32) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (123) | (159) | (293) | (403) |
Net | (194) | (158) | (407) | (301) |
Available-for-sale securities [Member] | Corporate debt securities [Member] | ||||
Assets: | ||||
Purchases | 57 | 3 | 153 | 10 |
Sales | (3) | (23) | (11) | (32) |
Issuances | 0 | 0 | 0 | 10 |
Settlements | (2) | (9) | (8) | (22) |
Net | 52 | (29) | 134 | (34) |
Available-for-sale securities [Member] | Asset-backed securities [Member] | ||||
Assets: | ||||
Purchases | 30 | 0 | 30 | 87 |
Sales | 0 | (2) | (1) | (14) |
Issuances | 30 | 230 | 268 | 344 |
Settlements | (134) | (100) | (416) | (953) |
Net | (74) | 128 | (119) | (536) |
Available-for-sale securities [Member] | Auto loans and leases [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | (215) |
Net | 0 | 0 | 0 | (215) |
Available-for-sale securities [Member] | Other asset-backed securities [Member] | ||||
Assets: | ||||
Purchases | 30 | 0 | 30 | 87 |
Sales | 0 | (2) | (1) | (14) |
Issuances | 30 | 230 | 268 | 344 |
Settlements | (134) | (100) | (416) | (738) |
Net | (74) | 128 | (119) | (321) |
Available-for-sale securities [Member] | Equity Securities [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | (4) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | (19) | (24) | (42) |
Net | 0 | (19) | (24) | (46) |
Available-for-sale securities [Member] | Perpetual preferred securities [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | (19) | (24) | (42) |
Net | 0 | (19) | (24) | (42) |
Available-for-sale securities [Member] | Equity Securities, Other 1 [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | (4) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Net | 0 | 0 | 0 | (4) |
Mortgages held for sale [Member] | ||||
Assets: | ||||
Purchases | 44 | 60 | 164 | 166 |
Sales | (436) | 0 | (1,059) | (21) |
Issuances | 246 | 0 | 592 | 0 |
Settlements | (80) | (155) | (292) | (315) |
Net | (226) | (95) | (595) | (170) |
Loans [Member] | ||||
Assets: | ||||
Purchases | 3 | 56 | 70 | 58 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 93 | 103 | 287 | 309 |
Settlements | (214) | (192) | (565) | (423) |
Net | (118) | (33) | (208) | (56) |
Mortgage servicing rights [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 6 | 0 | 5 | 0 |
Issuances | 448 | 340 | 1,184 | 900 |
Settlements | 0 | 0 | (5) | 0 |
Net | 454 | 340 | 1,184 | 900 |
Derivative [Member] | ||||
Assets and Liabilities: | ||||
Purchases | 4 | 0 | 25 | 2 |
Sales | (32) | 33 | (105) | (10) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (199) | (345) | (629) | (987) |
Net | (227) | (312) | (709) | (995) |
Derivative [Member] | Interest rate contract [Member] | ||||
Assets and Liabilities: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (371) | (234) | (837) | (924) |
Net | (371) | (234) | (837) | (924) |
Derivative [Member] | Commodity contract [Member] | ||||
Assets and Liabilities: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | (1) | 2 | (2) |
Net | 0 | (1) | 2 | (2) |
Derivative [Member] | Equity contract [Member] | ||||
Assets and Liabilities: | ||||
Purchases | 0 | 0 | 15 | 0 |
Sales | (32) | (1) | (103) | (116) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 95 | (121) | 62 | (82) |
Net | 63 | (122) | (26) | (198) |
Derivative [Member] | Foreign exchange contract [Member] | ||||
Assets and Liabilities: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | (2) | 0 | (14) |
Net | 0 | (2) | 0 | (14) |
Derivative [Member] | Credit contract [Member] | ||||
Assets and Liabilities: | ||||
Purchases | 4 | 0 | 10 | 2 |
Sales | 0 | 34 | (2) | 106 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 77 | 13 | 144 | 35 |
Net | 81 | 47 | 152 | 143 |
Derivative [Member] | Other contract [Member] | ||||
Assets and Liabilities: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Net | 0 | 0 | 0 | 0 |
Other assets [Member] | ||||
Assets: | ||||
Purchases | 1 | 0 | 97 | 609 |
Sales | 0 | 0 | (1) | (1) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (9) | (6) | (17) | (19) |
Net | (8) | (6) | 79 | 589 |
Short sale liabilities [Member] | ||||
Liabilities: | ||||
Purchases | 1 | 4 | 21 | 10 |
Sales | 0 | (9) | (15) | (14) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Net | 1 | (5) | 6 | (4) |
Other liabilities [Member] | ||||
Liabilities: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 10 | 19 | 10 | 20 |
Net | $ 10 | $ 19 | $ 10 | $ 20 |
Fair Value, Assets and Liabi115
Fair Value, Assets and Liabilities Measured on a Recurring Basis Level 3 Valuation Techniques and Significant Unobservable Inputs (Details) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015USD ($)$ / loan | Dec. 31, 2014USD ($)$ / loan | |
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgages held for sale, carried at fair value | $ 17,627 | $ 15,565 |
Loans | 5,529 | 5,788 |
Mortgage servicing rights | 11,778 | 12,738 |
Fair Value Inputs [Abstract] | ||
Aggregate Fair Value Of Derivative Loan Commitments Net Asset (Liability) | $ 160 | $ 98 |
Derivative Loan Commitments [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Fall-out factor | 1.00% | 1.00% |
Initial-value servicing (in bps) | (0.224%) | (0.311%) |
Derivative Loan Commitments [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Fall-out factor | 99.00% | 99.00% |
Initial-value servicing (in bps) | 1.59% | 1.133% |
Derivative Loan Commitments [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Fall-out factor | 24.80% | 24.50% |
Initial-value servicing (in bps) | 0.644% | 0.465% |
Interest rate contract [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Loss severity | 50.00% | 50.00% |
Default rate | 0.07% | 0.00% |
Interest rate contract [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Loss severity | 50.00% | 50.00% |
Default rate | 9.60% | 0.02% |
Interest rate contract [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Loss severity | 50.00% | 50.00% |
Default rate | 2.72% | 0.01% |
Equity contract [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Weighted average life | 9 months 18 days | 1 year |
Conversion factor | (11.00%) | (11.20%) |
Equity contract [Member] | Minimum [Member] | Option model [Member] | ||
Fair Value Inputs [Abstract] | ||
Volatility factor | 8.30% | 8.30% |
Correlation factor | (65.00%) | (56.00%) |
Equity contract [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Weighted average life | 2 years 3 months 18 days | 2 years |
Conversion factor | 0.00% | 0.00% |
Equity contract [Member] | Maximum [Member] | Option model [Member] | ||
Fair Value Inputs [Abstract] | ||
Volatility factor | 87.30% | 80.90% |
Correlation factor | 98.50% | 96.30% |
Equity contract [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Weighted average life | 1 year 7 months 6 days | 1 year 3 months 18 days |
Conversion factor | (8.20%) | (8.40%) |
Equity contract [Member] | Weighted Average [Member] | Option model [Member] | ||
Fair Value Inputs [Abstract] | ||
Volatility factor | 29.50% | 28.30% |
Correlation factor | 33.90% | 42.10% |
Credit contract [Member] | Minimum [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | (30.40%) | (28.60%) |
Credit contract [Member] | Minimum [Member] | Option model [Member] | ||
Fair Value Inputs [Abstract] | ||
Loss severity | 11.50% | 11.50% |
Credit spread | 0.10% | 0.00% |
Credit contract [Member] | Maximum [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | 35.10% | 26.30% |
Credit contract [Member] | Maximum [Member] | Option model [Member] | ||
Fair Value Inputs [Abstract] | ||
Loss severity | 72.50% | 72.50% |
Credit spread | 16.70% | 17.00% |
Credit contract [Member] | Weighted Average [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | 2.20% | 1.80% |
Credit contract [Member] | Weighted Average [Member] | Option model [Member] | ||
Fair Value Inputs [Abstract] | ||
Loss severity | 49.30% | 48.70% |
Credit spread | 1.40% | 0.90% |
Government, healthcare and other revenue bonds [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 0.50% | 0.40% |
Government, healthcare and other revenue bonds [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 5.80% | 5.60% |
Government, healthcare and other revenue bonds [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 1.50% | 1.50% |
Auction rate and other municipal bonds [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 1.50% | 1.50% |
Weighted average life | 1 year 9 months 18 days | 1 year 3 months 18 days |
Auction rate and other municipal bonds [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 5.90% | 7.60% |
Weighted average life | 18 years 9 months 18 days | 19 years 4 months 24 days |
Auction rate and other municipal bonds [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 3.70% | 3.90% |
Weighted average life | 8 years 8 months 11 days | 6 years 4 months 24 days |
Collateralized loan and other debt obligations [Member] | Minimum [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | (18.20%) | (53.90%) |
Collateralized loan and other debt obligations [Member] | Maximum [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | 35.00% | 25.00% |
Collateralized loan and other debt obligations [Member] | Weighted Average [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | 2.90% | 0.90% |
Auto loans and leases [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | (0.30%) | 0.40% |
Auto loans and leases [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | (0.30%) | 0.40% |
Auto loans and leases [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | (0.30%) | 0.40% |
Diversified payment rights [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 0.90% | 0.90% |
Diversified payment rights [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 5.30% | 7.10% |
Diversified payment rights [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 3.00% | 2.90% |
Other commercial and consumer [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 2.40% | 1.90% |
Weighted average life | 1 year 2 months 13 days | 1 year 7 months 6 days |
Other commercial and consumer [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 5.90% | 21.50% |
Weighted average life | 8 years 9 months 18 days | 10 years 8 months 12 days |
Other commercial and consumer [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 3.40% | 5.00% |
Weighted average life | 3 years 10 months 23 days | 4 years |
Perpetual preferred securities [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 4.10% | |
Weighted average life | 1 year | |
Perpetual preferred securities [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 9.30% | |
Weighted average life | 11 years 9 months 18 days | |
Perpetual preferred securities [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 6.60% | |
Weighted average life | 9 years 8 months 12 days | |
Mortgages held for sale [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 1.10% | 1.10% |
Prepayment rate | 2.60% | 2.00% |
Loss severity | 0.00% | 0.10% |
Default rate | 0.30% | 0.40% |
Mortgages held for sale [Member] | Minimum [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | (53.30%) | (93.00%) |
Mortgages held for sale [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 6.30% | 7.70% |
Prepayment rate | 18.40% | 15.50% |
Loss severity | 22.60% | 26.40% |
Default rate | 12.10% | 15.00% |
Mortgages held for sale [Member] | Maximum [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | 0.00% | 10.00% |
Mortgages held for sale [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 4.60% | 5.20% |
Prepayment rate | 8.90% | 8.10% |
Loss severity | 11.90% | 18.30% |
Default rate | 2.90% | 2.60% |
Mortgages held for sale [Member] | Weighted Average [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | (31.50%) | (30.00%) |
Loans [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 0.00% | 0.00% |
Prepayment rate | 0.20% | 0.60% |
Utilization rate | 0.00% | 0.00% |
Loans [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 3.50% | 3.80% |
Prepayment rate | 100.00% | 100.00% |
Utilization rate | 0.80% | 1.00% |
Loans [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 2.90% | 3.10% |
Prepayment rate | 13.90% | 11.20% |
Utilization rate | 0.30% | 0.40% |
Residential mortgage servicing rights [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 6.20% | 5.90% |
Prepayment rate | 8.60% | 8.00% |
Cost to service per loan | $ / loan | 68 | 86 |
Residential mortgage servicing rights [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 11.60% | 16.90% |
Prepayment rate | 24.70% | 22.00% |
Cost to service per loan | $ / loan | 624 | 683 |
Residential mortgage servicing rights [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 7.00% | 7.60% |
Prepayment rate | 12.40% | 12.50% |
Cost to service per loan | $ / loan | 165 | 179 |
Interest rate contract [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Prepayment rate | 0.30% | |
Interest rate contract [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Prepayment rate | 2.50% | |
Interest rate contract [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Prepayment rate | 2.20% | |
Other assets: nonmarketable equity investments [Member] | Minimum [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | (20.30%) | (19.70%) |
Other assets: nonmarketable equity investments [Member] | Maximum [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | (3.30%) | (4.00%) |
Other assets: nonmarketable equity investments [Member] | Weighted Average [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | (15.40%) | (14.70%) |
Recurring [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ (32,848) | $ (34,866) |
Mortgages held for sale, carried at fair value | 17,627 | 15,565 |
Loans | 5,529 | 5,788 |
Mortgage servicing rights | 11,778 | 12,738 |
Fair Value Inputs [Abstract] | ||
Assets, Fair Value Disclosure | 382,738 | 378,099 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | (1,494) | (2,270) |
Mortgages held for sale, carried at fair value | 1,462 | 2,313 |
Loans | 5,529 | 5,788 |
Mortgage servicing rights | 11,778 | 12,738 |
Total insignificant level 3 assets, net of liabilities | 523 | 507 |
Total level 3 assets, net of liabilities | 26,864 | 30,054 |
Fair Value Inputs [Abstract] | ||
Assets, Fair Value Disclosure | 28,358 | 32,324 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Derivative Loan Commitments [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Net derivative assets and liabilities | 160 | 97 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Interest rate contract [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Net derivative assets and liabilities | 283 | 196 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Equity contract [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Net derivative assets and liabilities | 66 | 162 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Equity contract [Member] | Option model [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Net derivative assets and liabilities | (170) | (246) |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Credit contract [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Net derivative assets and liabilities | (48) | (192) |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Credit contract [Member] | Option model [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Net derivative assets and liabilities | 7 | 3 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Government, healthcare and other revenue bonds [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Trading and available for sale securities | 1,625 | 1,900 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Government, healthcare and other revenue bonds [Member] | Vendor priced [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Trading and available for sale securities | 54 | 61 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Auction rate and other municipal bonds [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Trading and available for sale securities | 247 | 323 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Collateralized loan and other debt obligations [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Trading and available for sale securities | 400 | 565 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Collateralized loan and other debt obligations [Member] | Vendor priced [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Trading and available for sale securities | 715 | 967 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Auto loans and leases [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Trading and available for sale securities | 248 | 245 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Diversified payment rights [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Trading and available for sale securities | 556 | 661 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Other commercial and consumer [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Trading and available for sale securities | 616 | 750 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Other commercial and consumer [Member] | Vendor priced [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Trading and available for sale securities | 68 | 40 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Perpetual preferred securities [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Trading and available for sale securities | 663 | |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Mortgages held for sale [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgages held for sale, carried at fair value | 1,410 | 2,235 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Mortgages held for sale [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgages held for sale, carried at fair value | 52 | 78 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Loans [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Loans | 5,529 | 5,788 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Residential mortgage servicing rights [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgage servicing rights | 11,778 | 12,738 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Other assets: nonmarketable equity investments [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Other assets: nonmarketable equity investments | 2,745 | 2,512 |
Fair Value, Inputs, Level 2 [Member] | Recurring [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | (110,365) | (86,958) |
Mortgages held for sale, carried at fair value | 16,165 | 13,252 |
Loans | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Fair Value Inputs [Abstract] | ||
Assets, Fair Value Disclosure | 391,101 | 356,030 |
Collateralized Debt Obligations [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Trading and available for sale securities | $ 316 | $ 500 |
Non modified loans [Member] | Minimum [Member] | ||
Fair Value Inputs [Abstract] | ||
Cost to service per loan | $ / loan | 68 | 86 |
Non modified loans [Member] | Maximum [Member] | ||
Fair Value Inputs [Abstract] | ||
Cost to service per loan | $ / loan | 350 | 270 |
Fair Value, Assets Recorded at
Fair Value, Assets Recorded at Fair Value on Nonrecurring Basis (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgages held for sale | $ 17,627 | $ 15,565 |
Loans held for sale | 0 | 1 |
Loans | 5,529 | 5,788 |
Other assets, carried at fair value | 2,745 | 2,512 |
Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgages held for sale | 2,505 | 3,295 |
Loans held for sale | 13 | 0 |
Loans | 1,294 | 2,266 |
Other assets, carried at fair value | 823 | 877 |
Nonrecurring [Member] | Total Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 120 | 243 |
Nonrecurring [Member] | Total Consumer [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 1,174 | 2,023 |
Level 1 [Member] | Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgages held for sale | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans | 0 | 0 |
Other assets, carried at fair value | 0 | 0 |
Level 1 [Member] | Nonrecurring [Member] | Total Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 0 | 0 |
Level 1 [Member] | Nonrecurring [Member] | Total Consumer [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 0 | 0 |
Level 2 [Member] | Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgages held for sale | 1,559 | 2,197 |
Loans held for sale | 13 | 0 |
Loans | 1,283 | 2,261 |
Other assets, carried at fair value | 282 | 417 |
Level 2 [Member] | Nonrecurring [Member] | Total Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 120 | 243 |
Level 2 [Member] | Nonrecurring [Member] | Total Consumer [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 1,163 | 2,018 |
Level 3 [Member] | Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgages held for sale | 946 | 1,098 |
Loans held for sale | 0 | 0 |
Loans | 11 | 5 |
Other assets, carried at fair value | 541 | 460 |
Level 3 [Member] | Nonrecurring [Member] | Total Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 0 | 0 |
Level 3 [Member] | Nonrecurring [Member] | Total Consumer [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | $ 11 | $ 5 |
Fair Value, Changes in Fair Val
Fair Value, Changes in Fair Value of Assets Recorded at Fair Value on Nonrecurring Basis (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis Increase (Decrease) [Line Items] | ||
Mortgages held for sale (LOCOM) | $ 17 | $ 40 |
Loans held for sale | (3) | 0 |
Loans | (929) | (1,183) |
Other assets | (223) | (265) |
Total | (1,138) | (1,408) |
Total Commercial [Member] | ||
Fair Value Assets And Liabilities Measured On Nonrecurring Basis Increase (Decrease) [Line Items] | ||
Loans | (113) | (90) |
Total Consumer [Member] | ||
Fair Value Assets And Liabilities Measured On Nonrecurring Basis Increase (Decrease) [Line Items] | ||
Loans | $ (816) | $ (1,093) |
Fair Value, Assets Recorded 118
Fair Value, Assets Recorded at Fair Value on a Nonrecurring Basis Level 3 Valuation Techniques and Significant Unobservable Inputs (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgages held for sale | $ 17,627 | $ 15,565 |
Minimum [Member] | Mortgages held for sale [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Default rate | 0.30% | 0.40% |
Discount rate | 1.10% | 1.10% |
Loss severity | 0.00% | 0.10% |
Prepayment rate | 2.60% | 2.00% |
Minimum [Member] | Mortgages held for sale [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | (53.30%) | (93.00%) |
Maximum [Member] | Mortgages held for sale [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Default rate | 12.10% | 15.00% |
Discount rate | 6.30% | 7.70% |
Loss severity | 22.60% | 26.40% |
Prepayment rate | 18.40% | 15.50% |
Maximum [Member] | Mortgages held for sale [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | 0.00% | 10.00% |
Weighted Average [Member] | Mortgages held for sale [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Default rate | 2.90% | 2.60% |
Discount rate | 4.60% | 5.20% |
Loss severity | 11.90% | 18.30% |
Prepayment rate | 8.90% | 8.10% |
Weighted Average [Member] | Mortgages held for sale [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | (31.50%) | (30.00%) |
Nonrecurring [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgages held for sale | $ 2,505 | $ 3,295 |
Nonrecurring [Member] | Minimum [Member] | Market comparable pricing [Member] | Private Equity Funds [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | 0.00% | 6.00% |
Nonrecurring [Member] | Minimum [Member] | Market comparable pricing [Member] | Other Assets: Nonmarketable Equity Investments [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | 4.80% | |
Nonrecurring [Member] | Minimum [Member] | Residential [Member] | Mortgages held for sale [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Default rate | 0.20% | 0.90% |
Discount rate | 1.50% | 1.50% |
Loss severity | 0.00% | 0.00% |
Prepayment rate | 2.30% | 2.00% |
Nonrecurring [Member] | Maximum [Member] | Market comparable pricing [Member] | Private Equity Funds [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | 0.00% | 6.00% |
Nonrecurring [Member] | Maximum [Member] | Market comparable pricing [Member] | Other Assets: Nonmarketable Equity Investments [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | 8.00% | |
Nonrecurring [Member] | Maximum [Member] | Residential [Member] | Mortgages held for sale [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Default rate | 9.60% | 3.80% |
Discount rate | 8.50% | 8.50% |
Loss severity | 29.40% | 29.80% |
Prepayment rate | 100.00% | 100.00% |
Nonrecurring [Member] | Weighted Average [Member] | Market comparable pricing [Member] | Private Equity Funds [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | 0.00% | 6.00% |
Nonrecurring [Member] | Weighted Average [Member] | Market comparable pricing [Member] | Other Assets: Nonmarketable Equity Investments [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | 7.10% | |
Nonrecurring [Member] | Weighted Average [Member] | Residential [Member] | Mortgages held for sale [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Default rate | 2.40% | 2.10% |
Discount rate | 3.60% | 3.60% |
Loss severity | 3.10% | 3.80% |
Prepayment rate | 58.20% | 65.50% |
Fair Value, Inputs, Level 3 [Member] | Nonrecurring [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgages held for sale | $ 946 | $ 1,098 |
Other assets: private equity fund investments | 0 | 171 |
Insignificant level 3 assets | 339 | 294 |
Total assets recorded at fair value | 1,498 | 1,563 |
Fair Value Inputs [Abstract] | ||
Other Assets Nonmarketable Equity Investments, Fair Value Disclosure | 213 | |
Fair Value, Inputs, Level 3 [Member] | Nonrecurring [Member] | Residential [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgages held for sale | 946 | 1,098 |
Government Insured Or Guaranteed [Member] | Residential [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgages held for sale | 899 | 1,000 |
Non Government Insured Or Guaranteed [Member] | Residential [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgages held for sale | $ 47 | $ 78 |
Fair Value, Investments in Enti
Fair Value, Investments in Entities That Calculate Net Asset Value Per Share (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Fair value | $ 1,047 | $ 1,507 |
Unfunded commitments | 201 | 252 |
Fair Value of nonmarketable equity investments in private equity funds where nonrecurring fair value adjustments were recorded | 0 | 171 |
Fair Value of cost method NMEI funds using NAV | 922 | 1,300 |
Fair Value of nonmarketable equity investments where net asset value was used | 133 | 108 |
Offshore funds [Member] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Fair value | 28 | 125 |
Unfunded commitments | $ 0 | $ 0 |
Redemption frequency | Daily - Monthly | Daily - Quarterly |
Alternative investments, assets with redemption restrictions, fair value disclosure | $ 0 | $ 24 |
Offshore funds [Member] | Minimum [Member] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Redemption notice period | 1 day | 1 day |
Offshore funds [Member] | Maximum [Member] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Redemption notice period | 30 days | 60 days |
Hedge funds [Member] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Fair value | $ 1 | $ 1 |
Unfunded commitments | $ 0 | $ 0 |
Redemption frequency | Daily - Quarterly | Daily - Quarterly |
Hedge funds [Member] | Minimum [Member] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Redemption notice period | 1 day | 1 day |
Hedge funds [Member] | Maximum [Member] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Redemption notice period | 90 days | 90 days |
Private equity funds [Member] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Fair value | $ 921 | $ 1,313 |
Unfunded commitments | $ 192 | 243 |
Alternative investment, distributions from underlying assets, distribution period | 6 years | |
Venture capital funds [Member] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Fair value | $ 97 | 68 |
Unfunded commitments | $ 9 | $ 9 |
Investment fund liquidation period | 4 years |
Fair Value, Option, Carrying Am
Fair Value, Option, Carrying Amount (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Mortgages held for sale | $ 17,627 | $ 15,565 |
Loans held for sale | 0 | 1 |
Loans | 5,529 | 5,788 |
Other assets, carried at fair value | 2,745 | 2,512 |
Trading assets - loans [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Trading assets, loans | 805 | 1,387 |
Trading assets, loans, unpaid principal | 850 | 1,410 |
Trading assets, loans, aggregate difference | (45) | (23) |
Nonaccrual loans | 0 | 0 |
Nonaccrual loans, unpaid principal | 0 | 1 |
Nonaccrual loans, Aggregate difference | 0 | (1) |
Mortgages held for sale [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Mortgages held for sale | 17,627 | 15,565 |
Mortgages held for sale, unpaid principal | 17,027 | 15,246 |
Loans, Loans held for sale and Mortgages held for sale, aggregate difference | 600 | 319 |
Nonaccrual loans | 81 | 160 |
Nonaccrual loans, unpaid principal | 137 | 252 |
Nonaccrual loans, Aggregate difference | (56) | (92) |
Loans 90 days or more past due and still accruing | 19 | 27 |
Loans 90 days or more past due and still accruing, Unpaid principal | 21 | 30 |
Loans 90 days or more past due and still accruing, Aggregate difference | (2) | (3) |
Loans held for sale [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans held for sale | 0 | 1 |
Loans held for sale, unpaid principal | 5 | 10 |
Loans, Loans held for sale and Mortgages held for sale, aggregate difference | (5) | (9) |
Nonaccrual loans | 0 | 1 |
Nonaccrual loans, unpaid principal | 5 | 10 |
Nonaccrual loans, Aggregate difference | (5) | (9) |
Loans [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans | 5,529 | 5,788 |
Loans, Unpaid principal | 5,319 | 5,527 |
Loans, Loans held for sale and Mortgages held for sale, aggregate difference | 210 | 261 |
Nonaccrual loans | 406 | 367 |
Nonaccrual loans, unpaid principal | 422 | 376 |
Nonaccrual loans, Aggregate difference | (16) | (9) |
Other assets [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Other assets, carried at fair value | $ 2,745 | $ 2,512 |
Fair Value, Option, Gains and L
Fair Value, Option, Gains and Losses (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Mortgage banking noninterest income [Member] | Trading assets - loans [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | $ 0 | $ 0 | $ 0 | $ 0 |
Mortgage banking noninterest income [Member] | Mortgages held for sale [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | 662 | 365 | 1,559 | 1,565 |
Mortgage banking noninterest income [Member] | Loans [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | 0 | 0 | 0 | 0 |
Mortgage banking noninterest income [Member] | Other assets [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | 0 | 0 | 0 | 0 |
Mortgage banking noninterest income [Member] | Other interests held [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | 0 | 0 | 0 | 0 |
Net gains (losses) from trading activities [Member] | Trading assets - loans [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | (16) | 8 | 3 | 25 |
Net gains (losses) from trading activities [Member] | Mortgages held for sale [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | 0 | 0 | 0 | 0 |
Net gains (losses) from trading activities [Member] | Loans [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | 0 | 0 | 0 | 0 |
Net gains (losses) from trading activities [Member] | Other assets [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | 0 | 0 | 0 | 0 |
Net gains (losses) from trading activities [Member] | Other interests held [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | (3) | (2) | (5) | (7) |
Other noninterest income [Member] | Trading assets - loans [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | 1 | 1 | 3 | 4 |
Other noninterest income [Member] | Mortgages held for sale [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | 0 | 0 | 0 | 0 |
Other noninterest income [Member] | Loans [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | (2) | (44) | (45) | (43) |
Other noninterest income [Member] | Other assets [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | 109 | 62 | 137 | (30) |
Other noninterest income [Member] | Other interests held [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | $ 0 | $ 0 | $ 0 | $ 0 |
Fair Value, Option, Instrument
Fair Value, Option, Instrument Specific Credit Risk (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) attributable to instrument-specific credit risk | $ (21) | $ 14 | $ 46 | $ 87 |
Trading assets - loans [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) attributable to instrument-specific credit risk | (16) | 7 | 3 | 25 |
Mortgages held for sale [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) attributable to instrument-specific credit risk | $ (5) | $ 7 | $ 43 | $ 62 |
Fair Value, Estimates for Finan
Fair Value, Estimates for Financial Instruments Excluding those Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | |
Financial assets | |||||
Cash and due from banks | $ 17,395 | $ 19,571 | $ 18,032 | $ 19,919 | |
Federal funds sold, securities purchased under resale agreements and other short-term investments | 254,811 | 258,429 | |||
Held-to-maturity securities | 78,668 | 55,483 | |||
Mortgages held for sale | 21,840 | [1] | 19,536 | ||
Loans held for sale | 430 | [1] | 722 | ||
Loans | 903,233 | [1] | 862,551 | ||
Nonmarketable equity investments (cost method) | 6,786 | 7,033 | |||
Financial liabilities | |||||
Deposits | 1,202,179 | 1,168,310 | |||
Short-term borrowings | 88,069 | 63,518 | |||
Long-Term Debt | 185,274 | 183,943 | |||
Capital Lease Obligations | 8 | 9 | |||
Carrying value [Member] | |||||
Financial assets | |||||
Cash and due from banks | 17,395 | 19,571 | |||
Federal funds sold, securities purchased under resale agreements and other short-term investments | 254,811 | 258,429 | |||
Held-to-maturity securities | 78,668 | 55,483 | |||
Mortgages held for sale | 4,213 | 3,971 | |||
Loans held for sale | 430 | 721 | |||
Loans | 874,085 | 832,671 | |||
Nonmarketable equity investments (cost method) | 6,786 | 7,033 | |||
Financial liabilities | |||||
Deposits | 1,202,179 | 1,196,663 | |||
Short-term borrowings | 88,069 | 63,518 | |||
Long-Term Debt | 185,266 | 183,934 | |||
Estimated fair value [Member] | |||||
Financial assets | |||||
Cash and due from banks | 17,395 | 19,571 | |||
Federal funds sold, securities purchased under resale agreements and other short-term investments | 254,811 | 258,429 | |||
Held-to-maturity securities | 80,119 | 56,359 | |||
Mortgages held for sale | 4,215 | 3,973 | |||
Loans held for sale | 438 | 739 | |||
Loans | 887,706 | 844,838 | |||
Nonmarketable equity investments (cost method) | 7,916 | 8,377 | |||
Financial liabilities | |||||
Deposits | 1,202,359 | 1,168,411 | |||
Short-term borrowings | 88,069 | 63,518 | |||
Long-Term Debt | 184,702 | 185,475 | |||
Loan Commitments And Standby, Commercial And Similar Letters of Credit | 992 | 945 | |||
Estimated fair value [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Financial assets | |||||
Cash and due from banks | 17,395 | 19,571 | |||
Federal funds sold, securities purchased under resale agreements and other short-term investments | 17,668 | 8,991 | |||
Held-to-maturity securities | 45,974 | 41,548 | |||
Mortgages held for sale | 0 | 0 | |||
Loans held for sale | 0 | 0 | |||
Loans | 0 | 0 | |||
Nonmarketable equity investments (cost method) | 0 | 0 | |||
Financial liabilities | |||||
Deposits | 0 | 0 | |||
Short-term borrowings | 0 | 0 | |||
Long-Term Debt | 0 | 0 | |||
Estimated fair value [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Financial assets | |||||
Cash and due from banks | 0 | 0 | |||
Federal funds sold, securities purchased under resale agreements and other short-term investments | 236,966 | 249,438 | |||
Held-to-maturity securities | 30,533 | 9,021 | |||
Mortgages held for sale | 3,269 | 2,875 | |||
Loans held for sale | 438 | 739 | |||
Loans | 60,970 | 60,052 | |||
Nonmarketable equity investments (cost method) | 0 | 0 | |||
Financial liabilities | |||||
Deposits | 1,171,938 | 1,132,845 | |||
Short-term borrowings | 88,069 | 63,518 | |||
Long-Term Debt | 174,284 | 174,996 | |||
Estimated fair value [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Financial assets | |||||
Cash and due from banks | 0 | 0 | |||
Federal funds sold, securities purchased under resale agreements and other short-term investments | 177 | 0 | |||
Held-to-maturity securities | 3,612 | 5,790 | |||
Mortgages held for sale | 946 | 1,098 | |||
Loans held for sale | 0 | 0 | |||
Loans | 826,736 | 784,786 | |||
Nonmarketable equity investments (cost method) | 7,916 | 8,377 | |||
Financial liabilities | |||||
Deposits | 30,421 | 35,566 | |||
Short-term borrowings | 0 | 0 | |||
Long-Term Debt | 10,418 | 10,479 | |||
Finance Leases Financing Receivable [Member] | |||||
Financial assets | |||||
Loans | $ 12,142 | $ 12,307 | |||
[1] | Parenthetical amounts represent assets and liabilities for which we have elected the fair value option. |
Preferred Stock (Details)
Preferred Stock (Details) | 1 Months Ended | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2015USD ($)$ / sharesshares | Jan. 31, 2015USD ($)shares | Sep. 30, 2015USD ($)vote$ / sharesshares | Dec. 31, 2014USD ($)$ / sharesshares | |
Detail of Preferred Stock [Abstract] | ||||
Preferred Stock, Shares authorized and designated | shares | 11,928,529 | 11,928,529 | 11,597,997 | |
ESOP, Liquidation preference per share | $ / shares | $ 0 | $ 0 | $ 0 | |
ESOP, Shares authorized and designated | shares | 1,461,819 | 1,461,819 | 1,251,287 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||||
Shares issued and outstanding | shares | 11,469,350 | 11,469,350 | 11,138,818 | |
Voting Rights | If issued, preference shares would be limited to one vote per share | |||
Par value | $ 23,823,000,000 | $ 23,823,000,000 | $ 20,612,000,000 | |
Carrying value | 22,424,000,000 | 22,424,000,000 | 19,213,000,000 | |
Discount | $ 1,399,000,000 | $ 1,399,000,000 | $ 1,399,000,000 | |
ESOP Shares issued and outstanding | shares | 1,461,819 | 1,461,819 | 1,251,287 | |
ESOP Par value | $ 1,462,000,000 | $ 1,462,000,000 | $ 1,251,000,000 | |
ESOP Carrying value | 1,462,000,000 | 1,462,000,000 | 1,251,000,000 | |
ESOP Discount | $ 0 | $ 0 | $ 0 | |
Preferred Stock, No Voting Rights [Member] | ||||
Class of Stock [Line Items] | ||||
Preferred shares authorized | shares | 20,000,000 | 20,000,000 | ||
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||||
Par value | $ 0 | $ 0 | ||
Preferred Stock, Voting Rights [Member] | ||||
Class of Stock [Line Items] | ||||
Preferred shares authorized | shares | 4,000,000 | 4,000,000 | ||
Number of votes per share | vote | 1 | |||
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||||
Shares issued and outstanding | shares | 0 | 0 | ||
Par value | $ 0 | $ 0 | ||
Dividend Equalization Preferred Shares (DEP) [Member] | ||||
Detail of Preferred Stock [Abstract] | ||||
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 10 | $ 10 | $ 10 | |
Preferred Stock, Shares authorized and designated | shares | 97,000 | 97,000 | 97,000 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||||
Shares issued and outstanding | shares | 96,546 | 96,546 | 96,546 | |
Par value | $ 0 | $ 0 | $ 0 | |
Carrying value | 0 | 0 | 0 | |
Discount | 0 | 0 | $ 0 | |
Series G - 7.25% Class A Preferred Stock [Member] | ||||
Class of Stock [Line Items] | ||||
Preferred stock, commitment to issue | $ 0 | $ 0 | ||
Detail of Preferred Stock [Abstract] | ||||
Preferred Stock, Dividend rate (percent) | 7.25% | 7.25% | ||
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 15,000 | $ 15,000 | $ 15,000 | |
Preferred Stock, Shares authorized and designated | shares | 50,000 | 50,000 | 50,000 | |
Series H - Floating Class A Preferred Stock [Member] | ||||
Class of Stock [Line Items] | ||||
Preferred stock, commitment to issue | $ 0 | $ 0 | ||
Detail of Preferred Stock [Abstract] | ||||
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 20,000 | $ 20,000 | $ 20,000 | |
Preferred Stock, Shares authorized and designated | shares | 50,000 | 50,000 | 50,000 | |
Series I - Floating Class A Preferred Stock [Member] | ||||
Detail of Preferred Stock [Abstract] | ||||
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 100,000 | $ 100,000 | $ 100,000 | |
Preferred Stock, Shares authorized and designated | shares | 25,010 | 25,010 | 25,010 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||||
Shares issued and outstanding | shares | 25,010 | 25,010 | 25,010 | |
Par value | $ 2,501,000,000 | $ 2,501,000,000 | $ 2,501,000,000 | |
Carrying value | 2,501,000,000 | 2,501,000,000 | 2,501,000,000 | |
Discount | $ 0 | $ 0 | $ 0 | |
Series J - 8.00% Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||||
Detail of Preferred Stock [Abstract] | ||||
Preferred Stock, Dividend rate (percent) | 8.00% | 8.00% | ||
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 1,000 | $ 1,000 | $ 1,000 | |
Preferred Stock, Shares authorized and designated | shares | 2,300,000 | 2,300,000 | 2,300,000 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||||
Shares issued and outstanding | shares | 2,150,375 | 2,150,375 | 2,150,375 | |
Par value | $ 2,150,000,000 | $ 2,150,000,000 | $ 2,150,000,000 | |
Carrying value | 1,995,000,000 | 1,995,000,000 | 1,995,000,000 | |
Discount | $ 155,000,000 | $ 155,000,000 | $ 155,000,000 | |
Series K - 7.98% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||||
Detail of Preferred Stock [Abstract] | ||||
Preferred Stock, Dividend rate (percent) | 7.98% | 7.98% | ||
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 1,000 | $ 1,000 | $ 1,000 | |
Preferred Stock, Shares authorized and designated | shares | 3,500,000 | 3,500,000 | 3,500,000 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||||
Shares issued and outstanding | shares | 3,352,000 | 3,352,000 | 3,352,000 | |
Par value | $ 3,352,000,000 | $ 3,352,000,000 | $ 3,352,000,000 | |
Carrying value | 2,876,000,000 | 2,876,000,000 | 2,876,000,000 | |
Discount | $ 476,000,000 | $ 476,000,000 | $ 476,000,000 | |
Series L - 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock [Member] | ||||
Detail of Preferred Stock [Abstract] | ||||
Preferred Stock, Dividend rate (percent) | 7.50% | 7.50% | ||
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 1,000 | $ 1,000 | $ 1,000 | |
Preferred Stock, Shares authorized and designated | shares | 4,025,000 | 4,025,000 | 4,025,000 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||||
Shares issued and outstanding | shares | 3,968,000 | 3,968,000 | 3,968,000 | |
Par value | $ 3,968,000,000 | $ 3,968,000,000 | $ 3,968,000,000 | |
Carrying value | 3,200,000,000 | 3,200,000,000 | 3,200,000,000 | |
Discount | $ 768,000,000 | $ 768,000,000 | $ 768,000,000 | |
Series N - 5.20% Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||||
Detail of Preferred Stock [Abstract] | ||||
Preferred Stock, Dividend rate (percent) | 5.20% | 5.20% | ||
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 25,000 | $ 25,000 | $ 25,000 | |
Preferred Stock, Shares authorized and designated | shares | 30,000 | 30,000 | 30,000 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||||
Shares issued and outstanding | shares | 30,000 | 30,000 | 30,000 | |
Par value | $ 750,000,000 | $ 750,000,000 | $ 750,000,000 | |
Carrying value | 750,000,000 | 750,000,000 | 750,000,000 | |
Discount | $ 0 | $ 0 | $ 0 | |
Series O - 5.125% Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||||
Detail of Preferred Stock [Abstract] | ||||
Preferred Stock, Dividend rate (percent) | 5.125% | 5.125% | ||
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 25,000 | $ 25,000 | $ 25,000 | |
Preferred Stock, Shares authorized and designated | shares | 27,600 | 27,600 | 27,600 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||||
Shares issued and outstanding | shares | 26,000 | 26,000 | 26,000 | |
Par value | $ 650,000,000 | $ 650,000,000 | $ 650,000,000 | |
Carrying value | 650,000,000 | 650,000,000 | 650,000,000 | |
Discount | $ 0 | $ 0 | $ 0 | |
Series P - 5.25% Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||||
Detail of Preferred Stock [Abstract] | ||||
Preferred Stock, Dividend rate (percent) | 5.25% | 5.25% | ||
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 25,000 | $ 25,000 | $ 25,000 | |
Preferred Stock, Shares authorized and designated | shares | 26,400 | 26,400 | 26,400 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||||
Shares issued and outstanding | shares | 25,000 | 25,000 | 25,000 | |
Par value | $ 625,000,000 | $ 625,000,000 | $ 625,000,000 | |
Carrying value | 625,000,000 | 625,000,000 | 625,000,000 | |
Discount | $ 0 | $ 0 | $ 0 | |
Series Q - 5.85% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||||
Detail of Preferred Stock [Abstract] | ||||
Preferred Stock, Dividend rate (percent) | 5.85% | 5.85% | ||
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 25,000 | $ 25,000 | $ 25,000 | |
Preferred Stock, Shares authorized and designated | shares | 69,000 | 69,000 | 69,000 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||||
Shares issued and outstanding | shares | 69,000 | 69,000 | 69,000 | |
Par value | $ 1,725,000,000 | $ 1,725,000,000 | $ 1,725,000,000 | |
Carrying value | 1,725,000,000 | 1,725,000,000 | 1,725,000,000 | |
Discount | $ 0 | $ 0 | $ 0 | |
Series R - 6.625% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||||
Detail of Preferred Stock [Abstract] | ||||
Preferred Stock, Dividend rate (percent) | 6.625% | 6.625% | ||
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 25,000 | $ 25,000 | $ 25,000 | |
Preferred Stock, Shares authorized and designated | shares | 34,500 | 34,500 | 34,500 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||||
Shares issued and outstanding | shares | 33,600 | 33,600 | 33,600 | |
Par value | $ 840,000,000 | $ 840,000,000 | $ 840,000,000 | |
Carrying value | 840,000,000 | 840,000,000 | 840,000,000 | |
Discount | $ 0 | $ 0 | $ 0 | |
Series S - 5.900% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||||
Detail of Preferred Stock [Abstract] | ||||
Preferred Stock, Dividend rate (percent) | 5.90% | 5.90% | ||
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 25,000 | $ 25,000 | $ 25,000 | |
Preferred Stock, Shares authorized and designated | shares | 80,000 | 80,000 | 80,000 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||||
Shares issued and outstanding | shares | 80,000 | 80,000 | 80,000 | |
Par value | $ 2,000,000,000 | $ 2,000,000,000 | $ 2,000,000,000 | |
Carrying value | 2,000,000,000 | 2,000,000,000 | 2,000,000,000 | |
Discount | $ 0 | $ 0 | $ 0 | |
Series T - 6.000% Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||||
Detail of Preferred Stock [Abstract] | ||||
Preferred Stock, Dividend rate (percent) | 6.00% | 6.00% | ||
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 25,000 | $ 25,000 | $ 25,000 | |
Preferred Stock, Shares authorized and designated | shares | 32,200 | 32,200 | 32,200 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||||
Shares issued and outstanding | shares | 32,000 | 32,000 | 32,000 | |
Par value | $ 800,000,000 | $ 800,000,000 | $ 800,000,000 | |
Carrying value | 800,000,000 | 800,000,000 | 800,000,000 | |
Discount | $ 0 | $ 0 | $ 0 | |
Series U - 5.875% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||||
Class of Stock [Line Items] | ||||
Percentage Interest in share of issued preferred stock | 4.00% | |||
Depositary shares issued and outstanding | shares | 2,000,000 | |||
Detail of Preferred Stock [Abstract] | ||||
Preferred Stock, Dividend rate (percent) | 5.875% | 0.00% | ||
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 25,000 | $ 25,000 | $ 0 | |
Preferred Stock, Shares authorized and designated | shares | 80,000 | 80,000 | 0 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||||
Shares issued and outstanding | shares | 80,000 | 80,000 | 0 | |
Par value | $ 2,000,000,000 | $ 2,000,000,000 | $ 2,000,000,000 | $ 0 |
Carrying value | 2,000,000,000 | 2,000,000,000 | 0 | |
Discount | $ 0 | $ 0 | $ 0 | |
Series V - 6.000% Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||||
Class of Stock [Line Items] | ||||
Percentage Interest in share of issued preferred stock | 0.10% | |||
Depositary shares issued and outstanding | shares | 40,000,000 | |||
Detail of Preferred Stock [Abstract] | ||||
Preferred Stock, Dividend rate (percent) | 6.00% | 0.00% | ||
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 25,000 | $ 25,000 | $ 0 | |
Preferred Stock, Shares authorized and designated | shares | 40,000 | 40,000 | 0 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||||
Shares issued and outstanding | shares | 40,000 | 40,000 | 0 | |
Par value | $ 1,000,000,000 | $ 1,000,000,000 | $ 0 | |
Carrying value | 1,000,000,000 | 1,000,000,000 | 0 | |
Discount | $ 0 | $ 0 | $ 0 |
ESOP Preferred Stock (Details)
ESOP Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Class of Stock [Line Items] | ||
Additional paid-in capital included related to preferred stock | $ 128 | $ 109 |
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 1,461,819 | 1,251,287 |
Carrying value | $ 1,462 | $ 1,251 |
Unearned ESOP shares | $ (1,590) | $ (1,360) |
Employee Stock Ownership Plan Preferred Stock 2015 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 394,841 | 0 |
Carrying value | $ 395 | $ 0 |
Employee Stock Ownership Plan Preferred Stock 2015 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 8.90% | 0.00% |
Employee Stock Ownership Plan Preferred Stock 2015 [Member] | Maximum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 9.90% | 0.00% |
Employee Stock Ownership Plan Preferred Stock 2014 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 318,791 | 352,158 |
Carrying value | $ 319 | $ 352 |
Employee Stock Ownership Plan Preferred Stock 2014 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 8.70% | 8.70% |
Employee Stock Ownership Plan Preferred Stock 2014 [Member] | Maximum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 9.70% | 9.70% |
Employee Stock Ownership Plan Preferred Stock 2013 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 251,304 | 288,000 |
Carrying value | $ 251 | $ 288 |
Employee Stock Ownership Plan Preferred Stock 2013 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 8.50% | 8.50% |
Employee Stock Ownership Plan Preferred Stock 2013 [Member] | Maximum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 9.50% | 9.50% |
Employee Stock Ownership Plan Preferred Stock 2012 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 166,353 | 189,204 |
Carrying value | $ 166 | $ 189 |
Employee Stock Ownership Plan Preferred Stock 2012 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 10.00% | 10.00% |
Employee Stock Ownership Plan Preferred Stock 2012 [Member] | Maximum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 11.00% | 11.00% |
Employee Stock Ownership Plan Preferred Stock 2011 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 177,614 | 205,263 |
Carrying value | $ 178 | $ 205 |
Employee Stock Ownership Plan Preferred Stock 2011 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 9.00% | 9.00% |
Employee Stock Ownership Plan Preferred Stock 2011 [Member] | Maximum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 10.00% | 10.00% |
Employee Stock Ownership Plan Preferred Stock 2010 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 113,234 | 141,011 |
Carrying value | $ 113 | $ 141 |
Employee Stock Ownership Plan Preferred Stock 2010 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 9.50% | 9.50% |
Employee Stock Ownership Plan Preferred Stock 2010 [Member] | Maximum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 10.50% | 10.50% |
Employee Stock Ownership Plan Preferred Stock 2008 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 28,972 | 42,204 |
Carrying value | $ 29 | $ 42 |
Employee Stock Ownership Plan Preferred Stock 2008 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 10.50% | 10.50% |
Employee Stock Ownership Plan Preferred Stock 2008 [Member] | Maximum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 11.50% | 11.50% |
Employee Stock Ownership Plan Preferred Stock 2007 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 10,710 | 24,728 |
Carrying value | $ 11 | $ 25 |
Employee Stock Ownership Plan Preferred Stock 2007 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 10.75% | 10.75% |
Employee Stock Ownership Plan Preferred Stock 2007 [Member] | Maximum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 11.75% | 11.75% |
Employee Stock Ownership Plan Preferred Stock 2006 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 0 | 8,719 |
Carrying value | $ 0 | $ 9 |
Employee Stock Ownership Plan Preferred Stock 2006 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 10.75% | 10.75% |
Employee Stock Ownership Plan Preferred Stock 2006 [Member] | Maximum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 11.75% | 11.75% |
Stock Compensation Plan [Member] | Convertible Preferred Stock [Member] | ||
Class of Stock [Line Items] | ||
Preferred stock, redemption price per share | $ 1,000 |
Employee Benefits, Components o
Employee Benefits, Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Pension benefits qualified [Member] | ||||
Components of net periodic benefit cost [Abstract] | ||||
Service cost | $ 1 | $ 1 | $ 2 | $ 1 |
Interest cost | 107 | 116 | 321 | 349 |
Expected return on plan assets | (161) | (157) | (483) | (472) |
Amortization of net actuarial loss (gain) | 27 | 22 | 81 | 68 |
Amortization of prior service credit | 0 | 0 | 0 | 0 |
Settlement loss | 0 | 0 | 0 | 0 |
Net periodic benefit cost (income) | (26) | (18) | (79) | (54) |
Pension benefits nonqualified [Member] | ||||
Components of net periodic benefit cost [Abstract] | ||||
Service cost | 0 | 0 | 0 | 0 |
Interest cost | 5 | 6 | 18 | 20 |
Expected return on plan assets | 0 | 0 | 0 | 0 |
Amortization of net actuarial loss (gain) | 5 | 4 | 14 | 9 |
Amortization of prior service credit | 0 | 0 | 0 | 0 |
Settlement loss | 0 | 0 | 13 | 2 |
Net periodic benefit cost (income) | 10 | 10 | 45 | 31 |
Other benefits [Member] | ||||
Components of net periodic benefit cost [Abstract] | ||||
Service cost | 1 | 1 | 5 | 5 |
Interest cost | 11 | 12 | 32 | 32 |
Expected return on plan assets | (8) | (9) | (26) | (27) |
Amortization of net actuarial loss (gain) | (1) | (7) | (3) | (21) |
Amortization of prior service credit | (1) | (1) | (2) | (2) |
Settlement loss | 0 | 0 | 0 | 0 |
Net periodic benefit cost (income) | $ 2 | $ (4) | $ 6 | $ (13) |
Earnings Per Common Share, Calc
Earnings Per Common Share, Calculation of Earnings and Diluted Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Earnings Per Common Share [Abstract] | ||||
Wells Fargo net income | $ 5,796 | $ 5,729 | $ 17,319 | $ 17,348 |
Less: Preferred stock dividends and other | 353 | 321 | 1,052 | 909 |
Wells Fargo net income applicable to common stock (numerator) | $ 5,443 | $ 5,408 | $ 16,267 | $ 16,439 |
Earnings per common share | ||||
Average common shares outstanding (denominator) | 5,125.8 | 5,225.9 | 5,145.9 | 5,252.2 |
Per share | $ 1.06 | $ 1.04 | $ 3.16 | $ 3.13 |
Diluted earnings per common share | ||||
Average common shares outstanding (in shares) | 5,125.8 | 5,225.9 | 5,145.9 | 5,252.2 |
Diluted average common shares outstanding (denominator) | 5,193.8 | 5,310.4 | 5,220.3 | 5,339.2 |
Per share | $ 1.05 | $ 1.02 | $ 3.12 | $ 3.08 |
Stock Option [Member] | ||||
Diluted earnings per common share | ||||
Weighted average number of diluted shares outstanding, adjustment (in shares) | 25.5 | 32.3 | 27.3 | 33.4 |
Restricted Share Rights [Member] | ||||
Diluted earnings per common share | ||||
Weighted average number of diluted shares outstanding, adjustment (in shares) | 29 | 38.9 | 33 | 41.4 |
Warrants [Member] | ||||
Diluted earnings per common share | ||||
Weighted average number of diluted shares outstanding, adjustment (in shares) | 13.5 | 13.3 | 14.1 | 12.2 |
Earnings Per Common Share, Anti
Earnings Per Common Share, Antidilutive Securities Excluded from the Calculation of Diluted Earnings per Common Share (Details) - shares shares in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Stock Option [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive Instruments | 5 | 7.2 | 5.9 | 8.2 |
Other Comprehensive Income, Com
Other Comprehensive Income, Components of Other Comprehensive Income (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Investment securities: | ||||
Net unrealized gains (losses) arising during the period, Before tax | $ (441) | $ (944) | $ (2,017) | $ 3,866 |
Net unrealized gains (losses) arising during the period, Tax effect | 148 | 260 | 779 | (1,569) |
Net unrealized gains (losses) arising during the period, Net of tax | (293) | (684) | (1,238) | 2,297 |
Reclassification of net (gains) losses to net income, Before tax | (439) | (661) | (957) | (1,205) |
Reclassification of net (gains) losses to net income, Tax effect | 160 | 250 | 355 | 455 |
Reclassification of net (gains) losses to net income, Net of tax | (279) | (411) | (602) | (750) |
Net change, Before tax | (880) | (1,605) | (2,974) | 2,661 |
Net change, Tax effect | 308 | 510 | 1,134 | (1,114) |
Net change, Net of tax | (572) | (1,095) | (1,840) | 1,547 |
Derivatives and hedging activities: | ||||
Net unrealized gains (losses) arising during the period | 1,769 | (34) | 2,233 | 222 |
Net unrealized gains (losses) arising during the period, Tax effect | (667) | 13 | (842) | (84) |
Net unrealized gains (losses) arising during the period, Net of tax | 1,102 | (21) | 1,391 | 138 |
Reclassification of net (gains) losses on cash flow hedges to net income, Before tax | (293) | (127) | (795) | (348) |
Reclassification of net (gains) losses on cash flow hedges to net income, Tax effect | 110 | 47 | 300 | 131 |
Reclassification of net (gains) losses on cash flow hedges to net income, Net of tax | (183) | (80) | (495) | (217) |
Net change, Before tax | 1,476 | (161) | 1,438 | (126) |
Net change, Tax effect | (557) | 60 | (542) | 47 |
Net change, Net of tax | 919 | (101) | 896 | (79) |
Defined benefit plans adjustments: | ||||
Net actuarial losses arising during the period, Before tax | 0 | 0 | (11) | (12) |
Net actuarial losses arising during the period, Tax effect | 0 | 0 | 4 | 5 |
Net actuarial losses arising during the period, Net of tax | 0 | 0 | (7) | (7) |
Amortization of net actuarial loss, Before tax | 31 | 19 | 92 | 56 |
Amortization of net actuarial loss, Tax effect | (12) | (8) | (35) | (22) |
Amortization of net actuarial loss, Net of tax | 19 | 11 | 57 | 34 |
Settlements and other, Before tax | (1) | (1) | 11 | 0 |
Settlements and other, Tax effect | 1 | 1 | (4) | 0 |
Settlements and other, Net of tax | 0 | 0 | 7 | 0 |
Reclassification of amounts to net periodic benefit costs, Before tax | 30 | 18 | 103 | 56 |
Reclassification of amounts to net periodic benefit costs, Tax effect | (11) | (7) | (39) | (22) |
Reclassification of amounts to net periodic benefit costs, Net of tax | 19 | 11 | 64 | 34 |
Net change, Before tax | 30 | 18 | 92 | 44 |
Net change, Tax effect | (11) | (7) | (35) | (17) |
Net change, Net of tax | 19 | 11 | 57 | 27 |
Foreign currency translation adjustments: | ||||
Net unrealized losses arising during the period, Before tax | (59) | (32) | (104) | (32) |
Net unrealized losses arising during the period, Tax effect | (8) | (3) | (13) | (3) |
Net unrealized losses arising during the period, Net of tax | (67) | (35) | (117) | (35) |
Reclassification of net losses to net income, Net of tax | 0 | 0 | 0 | 6 |
Net change, Before tax | (59) | (32) | (104) | (26) |
Net change, Tax effect | (8) | (3) | (13) | (3) |
Net change, Net of tax | (67) | (35) | (117) | (29) |
Other comprehensive income (loss), before tax | 567 | (1,780) | (1,548) | 2,553 |
Other comprehensive income (loss), tax effect | (268) | 560 | 544 | (1,087) |
Other comprehensive income (loss), net of tax | 299 | (1,220) | (1,004) | 1,466 |
Less: Other comprehensive income (loss) from noncontrolling interests | (22) | (221) | 125 | (266) |
Wells Fargo other comprehensive income (loss), net of tax | 321 | (999) | (1,129) | 1,732 |
Interest income [Member] | Loans [Member] | ||||
Derivatives and hedging activities: | ||||
Reclassification of net (gains) losses on cash flow hedges to net income, Before tax | (297) | (133) | (806) | (387) |
Reclassification of net (gains) losses on cash flow hedges to net income, Tax effect | 112 | 49 | 304 | 145 |
Reclassification of net (gains) losses on cash flow hedges to net income, Net of tax | (185) | (84) | (502) | (242) |
Interest income [Member] | Investment securities [Member] | ||||
Investment securities: | ||||
Reclassification of net (gains) losses to net income, Before tax | 1 | (5) | (1) | (31) |
Reclassification of net (gains) losses to net income, Tax effect | (1) | 2 | 0 | 12 |
Reclassification of net (gains) losses to net income, Net of tax | 0 | (3) | (1) | (19) |
Derivatives and hedging activities: | ||||
Reclassification of net (gains) losses on cash flow hedges to net income, Before tax | 0 | 0 | (2) | (1) |
Reclassification of net (gains) losses on cash flow hedges to net income, Tax effect | 0 | 0 | 1 | 1 |
Reclassification of net (gains) losses on cash flow hedges to net income, Net of tax | 0 | 0 | (1) | 0 |
Gain(Loss) on investments [Member] | Debt Securities [Member] | ||||
Investment securities: | ||||
Reclassification of net (gains) losses to net income, Before tax | (147) | (253) | (606) | (407) |
Reclassification of net (gains) losses to net income, Tax effect | 52 | 96 | 225 | 154 |
Reclassification of net (gains) losses to net income, Net of tax | (95) | (157) | (381) | (253) |
Gain(Loss) on investments [Member] | Equity Securities [Member] | ||||
Investment securities: | ||||
Reclassification of net (gains) losses to net income, Before tax | (288) | (403) | (345) | (767) |
Reclassification of net (gains) losses to net income, Tax effect | 107 | 152 | 128 | 289 |
Reclassification of net (gains) losses to net income, Net of tax | (181) | (251) | (217) | (478) |
Other noninterest income [Member] | ||||
Investment securities: | ||||
Reclassification of net (gains) losses to net income, Before tax | (5) | 0 | (5) | 0 |
Reclassification of net (gains) losses to net income, Tax effect | 2 | 0 | 2 | 0 |
Reclassification of net (gains) losses to net income, Net of tax | (3) | 0 | (3) | 0 |
Interest expense on long-term debt [Member] | ||||
Derivatives and hedging activities: | ||||
Reclassification of net (gains) losses on cash flow hedges to net income, Before tax | 4 | 6 | 13 | 40 |
Reclassification of net (gains) losses on cash flow hedges to net income, Tax effect | (2) | (2) | (5) | (15) |
Reclassification of net (gains) losses on cash flow hedges to net income, Net of tax | 2 | 4 | 8 | 25 |
Noninterest income [Member] | ||||
Foreign currency translation adjustments: | ||||
Reclassification of net losses to net income, Before tax | 0 | 0 | 0 | 6 |
Reclassification of net losses to net income, Tax effect | 0 | 0 | 0 | 0 |
Reclassification of net losses to net income, Net of tax | $ 0 | $ 0 | $ 0 | $ 6 |
Other Comprehensive Income, Cum
Other Comprehensive Income, Cumulative OCI Balances (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Investment securities: | ||||
Cumulative other comprehensive income, Investment securities, beginning of period | $ 3,509 | $ 5,025 | $ 4,926 | $ 2,338 |
Net unrealized gains (losses) arising during the period | (293) | (684) | (1,238) | 2,297 |
Amounts reclassified from accumulated other comprehensive income | (279) | (411) | (602) | (750) |
Net change, Net of tax | (572) | (1,095) | (1,840) | 1,547 |
Less: Other comprehensive income from noncontrolling interests | (20) | (221) | 129 | (266) |
Cumulative other comprehensive income, Investment securities, end of period | 2,957 | 4,151 | 2,957 | 4,151 |
Derivatives and hedging activities: | ||||
Cumulative other comprehensive income, Derivatives and hedging activities, beginning of period | 310 | 102 | 333 | 80 |
Net unrealized gains (losses) arising during the period | 1,102 | (21) | 1,391 | 138 |
Amounts reclassified from accumulated other comprehensive income | (183) | (80) | (495) | (217) |
Net change, Net of tax | 919 | (101) | 896 | (79) |
Less: Other comprehensive income from noncontrolling interests | 0 | 0 | 0 | 0 |
Cumulative other comprehensive income, Derivatives and hedging activities, end of period | 1,229 | 1 | 1,229 | 1 |
Defined benefit plans adjustments: | ||||
Cumulative other comprehensive loss, Defined benefit plans adjustment, beginning of period | (1,665) | (1,037) | (1,703) | (1,053) |
Net unrealized gains (losses) arising during the period | 0 | 0 | (7) | (7) |
Amounts reclassified from accumulated other comprehensive income | 19 | 11 | 64 | 34 |
Net change, Net of tax | 19 | 11 | 57 | 27 |
Less: Other comprehensive income from noncontrolling interests | 0 | 0 | 0 | 0 |
Cumulative other comprehensive loss, Defined benefit plans adjustment, end of period | (1,646) | (1,026) | (1,646) | (1,026) |
Foreign currency translation adjustments: | ||||
Cumulative other comprehensive income (loss), Foreign currency translation adjustments, beginning of period | (86) | 27 | (38) | 21 |
Net unrealized gains (losses) arising during the period | (67) | (35) | (117) | (35) |
Amounts reclassified from accumulated other comprehensive income | 0 | 0 | 0 | 6 |
Net change, Net of tax | (67) | (35) | (117) | (29) |
Less: Other comprehensive income from noncontrolling interests | (2) | 0 | (4) | 0 |
Cumulative other comprehensive income (loss), Foreign currency translation adjustments, end of period | (151) | (8) | (151) | (8) |
Cumulative other comprehensive income, beginning of period | 2,068 | 4,117 | 3,518 | 1,386 |
Net unrealized gains (losses) arising during the period | 742 | (740) | 29 | 2,393 |
Amounts reclassified from accumulated other comprehensive income | (443) | (480) | (1,033) | (927) |
Other comprehensive income (loss), net of tax | 299 | (1,220) | (1,004) | 1,466 |
Less: Other comprehensive income (loss) from noncontrolling interests, net of tax | (22) | (221) | 125 | (266) |
Cumulative other comprehensive income, end of period | $ 2,389 | $ 3,118 | $ 2,389 | $ 3,118 |
Operating Segments (Details)
Operating Segments (Details) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Sep. 30, 2015USD ($)segment | Sep. 30, 2014USD ($) | |
Segment Reporting Information [Line Items] | ||||
Number of reportable operating segments | segment | 3 | |||
Financial Information of Operating Segment [Abstract] | ||||
Net interest income | $ 11,457 | $ 10,941 | $ 33,713 | $ 32,347 |
Provision (reversal of provision) for credit losses | 703 | 368 | 1,611 | 910 |
Noninterest income | 10,418 | 10,272 | 30,758 | 30,557 |
Noninterest expense | 12,399 | 12,248 | 37,375 | 36,390 |
Income before income tax expense | 8,773 | 8,597 | 25,485 | 25,604 |
Income tax expense (benefit) | 2,790 | 2,642 | 7,832 | 7,788 |
Net income before noncontrolling interests | 5,983 | 5,955 | 17,653 | 17,816 |
Less: Net income from noncontrolling interests | 187 | 226 | 334 | 468 |
Wells Fargo net income | 5,796 | 5,729 | 17,319 | 17,348 |
Average loans | 895,100 | 833,200 | 876,400 | 829,400 |
Average assets | 1,746,400 | 1,617,900 | 1,728,000 | 1,569,600 |
Average core deposits | 1,093,600 | 1,012,200 | 1,078,800 | 992,700 |
Other [Member] | ||||
Financial Information of Operating Segment [Abstract] | ||||
Net interest income | (380) | (328) | (1,098) | (970) |
Provision (reversal of provision) for credit losses | 6 | 13 | 11 | 32 |
Noninterest income | (811) | (742) | (2,409) | (2,152) |
Noninterest expense | (765) | (743) | (2,327) | (2,219) |
Income before income tax expense | (432) | (340) | (1,191) | (935) |
Income tax expense (benefit) | (164) | (129) | (452) | (355) |
Net income before noncontrolling interests | (268) | (211) | (739) | (580) |
Less: Net income from noncontrolling interests | 0 | 0 | 0 | 0 |
Wells Fargo net income | (268) | (211) | (739) | (580) |
Average loans | (40,100) | (34,500) | (38,900) | (33,700) |
Average assets | (75,900) | (74,100) | (75,700) | (74,300) |
Average core deposits | (71,200) | (66,700) | (70,600) | (67,100) |
Community Banking [Member] | ||||
Financial Information of Operating Segment [Abstract] | ||||
Net interest income | 7,822 | 7,455 | 23,051 | 22,075 |
Provision (reversal of provision) for credit losses | 658 | 465 | 1,638 | 1,163 |
Noninterest income | 5,796 | 5,356 | 15,980 | 15,883 |
Noninterest expense | 7,219 | 7,049 | 21,442 | 20,839 |
Income before income tax expense | 5,741 | 5,297 | 15,951 | 15,956 |
Income tax expense (benefit) | 1,861 | 1,603 | 4,921 | 4,781 |
Net income before noncontrolling interests | 3,880 | 3,694 | 11,030 | 11,175 |
Less: Net income from noncontrolling interests | 194 | 233 | 337 | 469 |
Wells Fargo net income | 3,686 | 3,461 | 10,693 | 10,706 |
Average loans | 511,000 | 498,300 | 507,800 | 502,700 |
Average assets | 977,100 | 944,800 | 984,000 | 914,500 |
Average core deposits | 690,500 | 646,900 | 681,800 | 637,800 |
Wholesale Banking [Member] | ||||
Financial Information of Operating Segment [Abstract] | ||||
Net interest income | 3,128 | 3,061 | 9,215 | 9,021 |
Provision (reversal of provision) for credit losses | 45 | (85) | (19) | (227) |
Noninterest income | 2,442 | 2,606 | 7,902 | 7,691 |
Noninterest expense | 3,036 | 2,997 | 9,191 | 8,843 |
Income before income tax expense | 2,489 | 2,755 | 7,945 | 8,096 |
Income tax expense (benefit) | 722 | 830 | 2,309 | 2,418 |
Net income before noncontrolling interests | 1,767 | 1,925 | 5,636 | 5,678 |
Less: Net income from noncontrolling interests | (5) | (4) | (8) | (3) |
Wells Fargo net income | 1,772 | 1,929 | 5,644 | 5,681 |
Average loans | 363,100 | 316,800 | 348,400 | 309,200 |
Average assets | 652,600 | 562,000 | 628,600 | 544,000 |
Average core deposits | 311,300 | 278,300 | 306,200 | 267,700 |
Wealth and Investment Management [Member] | ||||
Financial Information of Operating Segment [Abstract] | ||||
Net interest income | 887 | 753 | 2,545 | 2,221 |
Provision (reversal of provision) for credit losses | (6) | (25) | (19) | (58) |
Noninterest income | 2,991 | 3,052 | 9,285 | 9,135 |
Noninterest expense | 2,909 | 2,945 | 9,069 | 8,927 |
Income before income tax expense | 975 | 885 | 2,780 | 2,487 |
Income tax expense (benefit) | 371 | 338 | 1,054 | 944 |
Net income before noncontrolling interests | 604 | 547 | 1,726 | 1,543 |
Less: Net income from noncontrolling interests | (2) | (3) | 5 | 2 |
Wells Fargo net income | 606 | 550 | 1,721 | 1,541 |
Average loans | 61,100 | 52,600 | 59,100 | 51,200 |
Average assets | 192,600 | 185,200 | 191,100 | 185,400 |
Average core deposits | $ 163,000 | $ 153,700 | $ 161,400 | $ 154,300 |
Regulatory and Agency Capita132
Regulatory and Agency Capital Requirements (Details) - USD ($) $ in Billions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Regulatory and Agency Capital Requirements (Textual) [Abstract] | ||
Minimum leverage ratio for banking organizations | 3.00% | |
Advance Approach Under Basel III [Member] | ||
Regulatory capital ratios: | ||
Tier 1 common equity ratio required for capital adequacy purposes | 4.50% | |
Tier 1 capital ratio required for capital adequacy purposes | 6.00% | |
Total capital ratio required for capital adequacy purposes | 8.00% | |
Tier 1 leverage capital ratio required for capital adequacy purposes | 4.00% | |
Standardized Approach Under Basel III [Member] | ||
Regulatory capital ratios: | ||
Tier 1 common equity ratio required for capital adequacy purposes | 4.50% | |
Tier 1 capital ratio required for capital adequacy purposes | 6.00% | |
Total capital ratio required for capital adequacy purposes | 8.00% | |
Tier 1 leverage capital ratio required for capital adequacy purposes | 4.00% | |
General Approach Under Basel III [Member] | ||
Regulatory capital ratios: | ||
Tier 1 common equity ratio required for capital adequacy purposes | 4.50% | |
Tier 1 capital ratio required for capital adequacy purposes | 4.00% | |
Total capital ratio required for capital adequacy purposes | 8.00% | |
Tier 1 leverage capital ratio required for capital adequacy purposes | 4.00% | |
Wells Fargo & Company [Member] | Advance Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common equity tier 1 | $ 142.9 | |
Tier 1 | 163.2 | |
Total | 192.2 | |
Assets: | ||
Risk-weighted | 1,293.9 | |
Adjusted average | $ 1,715.5 | |
Regulatory capital ratios: | ||
Common equity tier 1 capital | 11.05% | |
Tier 1 capital | 12.61% | |
Total capital | 14.86% | |
Tier 1 leverage | 9.51% | |
Wells Fargo & Company [Member] | Standardized Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common equity tier 1 | $ 142.9 | |
Tier 1 | 163.2 | |
Total | 202.9 | |
Assets: | ||
Risk-weighted | 1,314.4 | |
Adjusted average | $ 1,715.5 | |
Regulatory capital ratios: | ||
Common equity tier 1 capital | 10.87% | |
Tier 1 capital | 12.42% | |
Total capital | 15.44% | |
Tier 1 leverage | 9.51% | |
Wells Fargo & Company [Member] | General Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common equity tier 1 | $ 137.1 | |
Tier 1 | 154.7 | |
Total | 192.9 | |
Assets: | ||
Risk-weighted | 1,242.5 | |
Adjusted average | $ 1,637 | |
Regulatory capital ratios: | ||
Common equity tier 1 capital | 11.04% | |
Tier 1 capital | 12.45% | |
Total capital | 15.53% | |
Tier 1 leverage | 9.45% | |
Wells Fargo Bank, NA [Member] | Advance Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common equity tier 1 | $ 124.9 | |
Tier 1 | 124.9 | |
Total | 138.5 | |
Assets: | ||
Risk-weighted | 1,112.6 | |
Adjusted average | $ 1,546.3 | |
Regulatory capital ratios: | ||
Common equity tier 1 capital | 11.22% | |
Tier 1 capital | 11.22% | |
Total capital | 12.45% | |
Tier 1 leverage | 8.08% | |
Wells Fargo Bank, NA [Member] | Standardized Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common equity tier 1 | $ 124.9 | |
Tier 1 | 124.9 | |
Total | 148.2 | |
Assets: | ||
Risk-weighted | 1,195 | |
Adjusted average | $ 1,546.3 | |
Regulatory capital ratios: | ||
Common equity tier 1 capital | 10.45% | |
Tier 1 capital | 10.45% | |
Total capital | 12.40% | |
Tier 1 leverage | 8.08% | |
Wells Fargo Bank, NA [Member] | General Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common equity tier 1 | $ 119.9 | |
Tier 1 | 119.9 | |
Total | 144 | |
Assets: | ||
Risk-weighted | 1,142.5 | |
Adjusted average | $ 1,487.6 | |
Regulatory capital ratios: | ||
Common equity tier 1 capital | 10.49% | |
Tier 1 capital | 10.49% | |
Total capital | 12.61% | |
Tier 1 leverage | 8.06% |