Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2016 | Jul. 29, 2016 | |
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 | Jun. 30, 2016 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q2 | |
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 | 5,045,547,142 |
Consolidated Statement of Incom
Consolidated Statement of Income (Unaudited) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | ||
Interest income | |||||
Trading assets | $ 572 | $ 483 | $ 1,168 | $ 928 | |
Investment securities | 2,176 | 2,181 | 4,438 | 4,325 | |
Mortgages held for sale | 181 | 209 | 342 | 386 | |
Loans held for sale | 3 | 5 | 5 | 10 | |
Loans | 9,822 | 9,098 | 19,399 | 18,036 | |
Other interest income | 392 | 250 | 766 | 504 | |
Total interest income | 13,146 | 12,226 | 26,118 | 24,189 | |
Interest expense | |||||
Deposits | 332 | 232 | 639 | 490 | |
Short-term borrowings | 77 | 21 | 144 | 39 | |
Long-term debt | 921 | 620 | 1,763 | 1,224 | |
Other interest expense | 83 | 83 | 172 | 180 | |
Total interest expense | 1,413 | 956 | 2,718 | 1,933 | |
Net interest income | 11,733 | 11,270 | 23,400 | 22,256 | |
Provision for credit losses | 1,074 | 300 | 2,160 | 908 | |
Net interest income after provision for credit losses | 10,659 | 10,970 | 21,240 | 21,348 | |
Noninterest income | |||||
Service charges on deposit accounts | 1,336 | 1,289 | 2,645 | 2,504 | |
Trust and investment fees | 3,547 | 3,710 | 6,932 | 7,387 | |
Card fees | 997 | 930 | 1,938 | 1,801 | |
Other fees | 906 | 1,107 | 1,839 | 2,185 | |
Mortgage banking | 1,414 | 1,705 | 3,012 | 3,252 | |
Insurance | 286 | 461 | 713 | 891 | |
Net gains from trading activities | 328 | 133 | 528 | 541 | |
Net gains on debt securities | [1] | 447 | 181 | 691 | 459 |
Net gains from equity investments | [2] | 189 | 517 | 433 | 887 |
Lease income | 497 | 155 | 870 | 287 | |
Other | 482 | (140) | 1,356 | 146 | |
Total noninterest income | 10,429 | 10,048 | 20,957 | 20,340 | |
Noninterest expense | |||||
Salaries | 4,099 | 3,936 | 8,135 | 7,787 | |
Commission and incentive compensation | 2,604 | 2,606 | 5,249 | 5,291 | |
Employee benefits | 1,244 | 1,106 | 2,770 | 2,583 | |
Equipment | 493 | 470 | 1,021 | 964 | |
Net occupancy | 716 | 710 | 1,427 | 1,433 | |
Core deposit and other intangibles | 299 | 312 | 592 | 624 | |
FDIC and other deposit assessments | 255 | 222 | 505 | 470 | |
Other | 3,156 | 3,107 | 6,195 | 5,824 | |
Total noninterest expense | 12,866 | 12,469 | 25,894 | 24,976 | |
Income before income tax expense | 8,222 | 8,549 | 16,303 | 16,712 | |
Income tax expense | 2,649 | 2,763 | 5,216 | 5,042 | |
Net income before noncontrolling interests | 5,573 | 5,786 | 11,087 | 11,670 | |
Less: Net income from noncontrolling interests | 15 | 67 | 67 | 147 | |
Wells Fargo net income | 5,558 | 5,719 | 11,020 | 11,523 | |
Less: Preferred stock dividends and other | 385 | 356 | 762 | 699 | |
Wells Fargo net income applicable to common stock | $ 5,173 | $ 5,363 | $ 10,258 | $ 10,824 | |
Per share information | |||||
Earnings per common share (in dollars per share) | $ 1.02 | $ 1.04 | $ 2.02 | $ 2.10 | |
Diluted earnings per common share (in dollars per share) | 1.01 | 1.03 | 2 | 2.07 | |
Dividends declared per common share (in dollars per share) | $ 0.38 | $ 0.375 | $ 0.755 | $ 0.725 | |
Average common shares outstanding (in shares) | 5,066.9 | 5,151.9 | 5,071.3 | 5,156.1 | |
Diluted average common shares outstanding (in shares) | 5,118.1 | 5,220.5 | 5,129.8 | 5,233.2 | |
[1] | (1)Total other-than-temporary impairment (OTTI) losses were $11 million and $10 million for second quarter 2016 and 2015, respectively. Of total OTTI, losses of $26 million and $20 million were recognized in earnings, and reversal of losses of $(15) million and $(10) million were recognized as non-credit-related OTTI in other comprehensive income for second quarter 2016 and 2015, respectively. Total OTTI losses were $87 million and $4 million for the first half of 2016 and 2015, respectively. Of total OTTI, losses of $91 million and $51 million were recognized in earnings, and reversal of losses of $(4) million and $(47) million were recognized as non-credit-related OTTI in other comprehensive income for the first half of 2016 and 2015, respectively. | ||||
[2] | (2)Includes OTTI losses of $104 million and $76 million for second quarter 2016 and 2015, respectively, and $237 million and $118 million for the first half of 2016 and 2015, respectively. |
Consolidated Statement of Inco3
Consolidated Statement of Income (Unaudited) (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Noninterest income | ||||
Total recorded as part of gross realized losses | $ 26 | $ 21 | $ 95 | $ 52 |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Available-for-sale Equity Securities and Nonmarketable Equity Securities | 104 | 76 | 237 | 118 |
Total debt securities [Member] | ||||
Noninterest income | ||||
Total OTTI losses (reversal of losses) recorded on debt securities | 11 | 10 | 87 | 4 |
Total recorded as part of gross realized losses | 26 | 20 | 91 | 51 |
Total reversal of losses recognized in OCI as non-credit-related impairment | $ (15) | $ (10) | $ (4) | $ (47) |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Statement of Comprehensive Income [Abstract] | ||||
Wells Fargo net income | $ 5,558 | $ 5,719 | $ 11,020 | $ 11,523 |
Investment securities: | ||||
Net unrealized gains (losses) arising during the period | 1,571 | (1,969) | 2,366 | (1,576) |
Reclassification of net gains to net income | (504) | (218) | (808) | (518) |
Derivatives and hedging activities: | ||||
Net unrealized gains (losses) arising during the period | 1,057 | (488) | 3,056 | 464 |
Reclassification of net gains on cash flow hedges to net income | (265) | (268) | (521) | (502) |
Defined benefit plans adjustments: | ||||
Net actuarial losses arising during the period | (19) | 0 | (27) | (11) |
Amortization of net actuarial loss, settlements and other to net income | 39 | 30 | 76 | 73 |
Foreign currency translation adjustments: | ||||
Net unrealized gains (losses) arising during the period | (6) | 10 | 37 | (45) |
Other comprehensive income (loss), before tax | 1,873 | (2,903) | 4,179 | (2,115) |
Income tax (expense) benefit related to other comprehensive income | (714) | 1,040 | (1,571) | 812 |
Other comprehensive income (loss), net of tax | 1,159 | (1,863) | 2,608 | (1,303) |
Less: Other comprehensive income (loss) from noncontrolling interests | (15) | (154) | (43) | 147 |
Wells Fargo other comprehensive income (loss), net of tax | 1,174 | (1,709) | 2,651 | (1,450) |
Wells Fargo comprehensive income | 6,732 | 4,010 | 13,671 | 10,073 |
Comprehensive income (loss) from noncontrolling interests | 0 | (87) | 24 | 294 |
Total comprehensive income | $ 6,732 | $ 3,923 | $ 13,695 | $ 10,367 |
Consolidated Balance Sheet
Consolidated Balance Sheet - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 | |
Assets | |||
Cash and due from banks | $ 20,407 | $ 19,111 | |
Federal funds sold, securities purchased under resale agreements and other short-term investments | 295,521 | 270,130 | |
Trading assets | 80,093 | 77,202 | |
Investment securities: | |||
Available-for-sale Securities | 253,006 | 267,358 | |
Held-to-maturity, at cost (fair value $104,077 and $80,567) | 100,420 | 80,197 | |
Mortgages held for sale (includes $20,241 and $13,539 carried at fair value) | [1] | 23,930 | 19,603 |
Loans held for sale | 220 | 279 | |
Loans (includes $5,032 and $5,316 carried at fair value) | [1] | 957,157 | 916,559 |
Allowance for loan losses | (11,664) | (11,545) | |
Net loans | 945,493 | 905,014 | |
Mortgage servicing rights: | |||
Measured at fair value | 10,396 | 12,415 | |
Amortized | 1,353 | 1,308 | |
Premises and equipment, net | 8,289 | 8,704 | |
Goodwill | 26,963 | 25,529 | |
Other assets (includes $3,046 and $3,065 carried at fair value) | [1] | 123,144 | 100,782 |
Total assets | [2] | 1,889,235 | 1,787,632 |
Liabilities | |||
Noninterest-bearing deposits | 361,934 | 351,579 | |
Interest-bearing deposits | 883,539 | 871,733 | |
Total deposits | 1,245,473 | 1,223,312 | |
Short-term borrowings | 120,258 | 97,528 | |
Accrued expenses and other liabilities | 76,916 | 73,365 | |
Long-term debt | 243,927 | 199,536 | |
Total liabilities | [3] | 1,686,574 | 1,593,741 |
Wells Fargo stockholders' equity: | |||
Preferred stock | 24,830 | 22,214 | |
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 | 60,691 | 60,714 | |
Retained earnings | 127,076 | 120,866 | |
Cumulative other comprehensive income | 2,948 | 297 | |
Treasury stock – 433,317,519 shares and 389,682,664 shares | (21,068) | (18,867) | |
Unearned ESOP shares | (1,868) | (1,362) | |
Total Wells Fargo stockholders' equity | 201,745 | 192,998 | |
Noncontrolling interests | 916 | 893 | |
Total equity | 202,661 | 193,891 | |
Total liabilities and equity | $ 1,889,235 | $ 1,787,632 | |
[1] | Parenthetical amounts represent assets and liabilities for which we have elected the fair value option. | ||
[2] | Our consolidated assets at June 30, 2016, and December 31, 2015, 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, $172 million and $157 million; Federal funds sold, securities purchased under resale agreements and other short-term investments, $135 million and $0 million; Trading assets, $101 million and $1 million; Investment securities, $303 million and $425 million; Net loans, $12.9 billion and $4.8 billion; Other assets, $447 million and $242 million; and Total assets, $14.0 billion and $5.6 billion, respectively. | ||
[3] | Our consolidated liabilities at June 30, 2016, and December 31, 2015, include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Accrued expenses and other liabilities, $85 million and $57 million; Long-term debt, $4.0 billion and $1.3 billion; and Total liabilities, $4.1 billion and $1.4 billion, respectively. |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 | |
Assets | |||
Cash and due from banks | $ 20,407 | $ 19,111 | |
Federal Funds Sold Securities Purchased Under Resale Agreements And Other Short Term Investments | 295,521 | 270,130 | |
Trading Assets | 80,093 | 77,202 | |
Investment securities | 357,083 | 347,925 | |
Held-to-maturity, at fair value | 104,077 | 80,567 | |
Mortgages held for sale, carried at fair value | 20,241 | 13,539 | |
Loans Receivable, Fair Value Disclosure | 5,032 | 5,316 | |
Net loans | 945,493 | 905,014 | |
Other assets | [1] | 123,144 | 100,782 |
Other assets, carried at fair value | 3,046 | 3,065 | |
Liabilities | |||
Accrued expenses and other liabilities | 76,916 | 73,365 | |
Long-term debt | 243,927 | 199,536 | |
Total liabilities | [2] | 1,686,574 | 1,593,741 |
Wells Fargo stockholders' equity: | |||
Total assets | [3] | $ 1,889,235 | $ 1,787,632 |
Common stock, par value | $ 1.6667 | $ 1.6667 | |
Common stock, shares issued | 5,481,811,474 | 5,481,811,474 | |
Common stock, shares authorized | 9,000,000,000 | 9,000,000,000 | |
Treasury stock, shares | 433,317,519 | 389,682,664 | |
VIEs that we consolidate [Member] | |||
Assets | |||
Cash and due from banks | $ 172 | $ 157 | |
Federal Funds Sold Securities Purchased Under Resale Agreements And Other Short Term Investments | 135 | 0 | |
Trading Assets | 101 | 1 | |
Investment securities | 303 | 425 | |
Net loans | 12,868 | 4,811 | |
Other assets | 447 | 242 | |
Liabilities | |||
Accrued expenses and other liabilities | 85 | 57 | |
Long-term debt | 4,043 | 1,301 | |
Total liabilities | 4,128 | 1,358 | |
Wells Fargo stockholders' equity: | |||
Total assets | 14,026 | 5,636 | |
Vies That We Consolidate No Recourse [Member] | |||
Liabilities | |||
Accrued expenses and other liabilities | 85 | 57 | |
Long-term debt | 4,000 | 1,300 | |
Total liabilities | $ 4,100 | $ 1,400 | |
[1] | Parenthetical amounts represent assets and liabilities for which we have elected the fair value option. | ||
[2] | Our consolidated liabilities at June 30, 2016, and December 31, 2015, include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Accrued expenses and other liabilities, $85 million and $57 million; Long-term debt, $4.0 billion and $1.3 billion; and Total liabilities, $4.1 billion and $1.4 billion, respectively. | ||
[3] | Our consolidated assets at June 30, 2016, and December 31, 2015, 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, $172 million and $157 million; Federal funds sold, securities purchased under resale agreements and other short-term investments, $135 million and $0 million; Trading assets, $101 million and $1 million; Investment securities, $303 million and $425 million; Net loans, $12.9 billion and $4.8 billion; Other assets, $447 million and $242 million; and Total assets, $14.0 billion and $5.6 billion, respectively. |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity (Unaudited) - USD ($) $ 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] | |
Beginning Balance at Dec. 31, 2014 | $ 185,262 | $ 184,394 | $ 19,213 | $ 9,136 | $ 60,537 | $ 107,040 | $ 3,518 | $ (13,690) | $ (1,360) | $ 868 | |
Beginning balance, shares at Dec. 31, 2014 | 11,138,818 | 5,170,349,198 | |||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Net income | 11,523 | 11,523 | 11,523 | ||||||||
Net income attributable to noncontrolling interests | 147 | 147 | |||||||||
Net income | 11,670 | ||||||||||
Other comprehensive income (loss) attributable to parent, net of tax | (1,450) | (1,450) | (1,450) | ||||||||
Other comprehensive income (loss) attributable to noncontrolling interest, net of tax | 147 | 147 | |||||||||
Other comprehensive income (loss), net of tax | (1,303) | ||||||||||
Noncontrolling interests, adjustments to Additional Paid in Capital | 0 | ||||||||||
Noncontrolling interests | (44) | ||||||||||
Total change in noncontrolling interests | (44) | ||||||||||
Common stock issued | 1,829 | 1,829 | (397) | 0 | 2,226 | ||||||
Common stock, shares issued | 52,509,675 | ||||||||||
Common stock repurchased | [1] | (4,586) | (4,586) | 0 | (4,586) | ||||||
Common stock repurchased, shares | [1] | (84,705,380) | |||||||||
Preferred stock issued to ESOP | 0 | 0 | $ 826 | 74 | (900) | ||||||
Preferred stock issued to ESOP, shares | 826,598 | ||||||||||
Preferred stock released by ESOP | 390 | 390 | (35) | 425 | |||||||
Preferred stock converted to common shares | 0 | 0 | $ (390) | 65 | 325 | ||||||
Preferred stock converted to common shares, shares | (391,014) | 7,081,764 | |||||||||
Common stock warrants repurchased/exercised | (32) | (32) | (32) | ||||||||
Preferred stock issued | 1,997 | 1,997 | $ 2,000 | (3) | |||||||
Preferred stock, shares issued | 80,000 | ||||||||||
Common stock dividends | (3,737) | (3,737) | 34 | (3,771) | |||||||
Preferred stock dividends | (699) | (699) | (699) | ||||||||
Tax benefit from stock incentive compensation | 409 | 409 | 409 | ||||||||
Stock incentive compensation expense | 542 | 542 | 542 | ||||||||
Net change in deferred compensation and related plans | (1,022) | (1,022) | (1,040) | 18 | |||||||
Net change | 5,414 | 5,164 | $ 2,436 | $ 0 | (383) | 7,053 | (1,450) | (2,017) | (475) | 250 | |
Net change, shares | 515,584 | (25,113,941) | |||||||||
Ending Balance at Jun. 30, 2015 | 190,676 | 189,558 | $ 21,649 | $ 9,136 | 60,154 | 114,093 | 2,068 | (15,707) | (1,835) | 1,118 | |
Ending balance, shares at Jun. 30, 2015 | 11,654,402 | 5,145,235,257 | |||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance | 194,012 | 192,998 | $ 22,214 | $ 9,136 | 60,714 | 120,866 | 297 | (18,867) | (1,362) | 1,014 | |
Beginning Balance at Dec. 31, 2015 | 193,891 | 192,998 | $ 22,214 | $ 9,136 | 60,714 | 120,866 | 297 | (18,867) | (1,362) | 893 | |
Beginning balance, shares at Dec. 31, 2015 | 11,259,917 | 5,092,128,810 | |||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Net income | 11,020 | 11,020 | 11,020 | ||||||||
Net income attributable to noncontrolling interests | 67 | 67 | |||||||||
Net income | 11,087 | ||||||||||
Other comprehensive income (loss) attributable to parent, net of tax | 2,651 | 2,651 | 2,651 | ||||||||
Other comprehensive income (loss) attributable to noncontrolling interest, net of tax | (43) | (43) | |||||||||
Other comprehensive income (loss), net of tax | 2,608 | ||||||||||
Noncontrolling interests, adjustments to Additional Paid in Capital | 1 | 1 | |||||||||
Noncontrolling interests | (122) | ||||||||||
Total change in noncontrolling interests | (121) | ||||||||||
Common stock issued | 1,476 | 1,476 | (184) | (185) | 1,845 | ||||||
Common stock, shares issued | 38,655,156 | ||||||||||
Common stock repurchased | [1] | (4,243) | (4,243) | 500 | (4,743) | ||||||
Common stock repurchased, shares | [1] | (96,479,740) | |||||||||
Preferred stock issued to ESOP | 0 | 0 | $ 1,150 | 99 | (1,249) | ||||||
Preferred stock issued to ESOP, shares | 1,150,000 | ||||||||||
Preferred stock released by ESOP | 684 | 684 | (59) | 743 | |||||||
Preferred stock converted to common shares | 0 | 0 | $ (684) | 0 | 684 | ||||||
Preferred stock converted to common shares, shares | (684,244) | 14,189,729 | |||||||||
Common stock warrants repurchased/exercised | 0 | 0 | 0 | ||||||||
Preferred stock issued | 2,101 | 2,101 | $ 2,150 | (49) | |||||||
Preferred stock, shares issued | 86,000 | ||||||||||
Common stock dividends | (3,834) | (3,834) | 27 | (3,861) | |||||||
Preferred stock dividends | (764) | (764) | (764) | ||||||||
Tax benefit from stock incentive compensation | 172 | 172 | 172 | ||||||||
Stock incentive compensation expense | 508 | 508 | 508 | ||||||||
Net change in deferred compensation and related plans | (1,025) | (1,025) | (1,038) | 13 | |||||||
Net change | 8,649 | 8,747 | $ 2,616 | $ 0 | (23) | 6,210 | 2,651 | (2,201) | (506) | (98) | |
Net change, shares | 551,756 | (43,634,855) | |||||||||
Ending Balance at Jun. 30, 2016 | $ 202,661 | $ 201,745 | $ 24,830 | $ 9,136 | $ 60,691 | $ 127,076 | $ 2,948 | $ (21,068) | $ (1,868) | $ 916 | |
Ending balance, shares at Jun. 30, 2016 | 11,811,673 | 5,048,493,955 | |||||||||
[1] | We had no unsettled private share repurchase contracts at June 30, 2016. For the first six months of 2015, includes $750 million related to a private forward repurchase transaction entered into in second quarter 2015 that settled in third quarter 2015 for 13.6 million shares of common stock. |
Consolidated Statement of Chan8
Consolidated Statement of Changes in Equity (Unaudited) (Parenthetical) - USD ($) shares in Millions, $ in Millions | 1 Months Ended | 3 Months Ended | |||
Jul. 31, 2015 | Jun. 30, 2016 | Jan. 01, 2016 | Jun. 30, 2015 | ||
Consolidated Statement of Changes in Equity (Textuals) [Abstract] | |||||
Cumulative Effect of New Accounting Principle in Period of Adoption | [1] | $ 121 | |||
Private Forward Repurchase Transaction [Member] | |||||
Consolidated Statement of Changes in Equity (Textuals) [Abstract] | |||||
Common stock repurchased, shares | 13.6 | 0 | |||
Private forward repurchase contract | $ 0 | $ 750 | |||
Noncontrolling Interest [Member] | |||||
Consolidated Statement of Changes in Equity (Textuals) [Abstract] | |||||
Cumulative Effect of New Accounting Principle in Period of Adoption | [1] | $ 121 | |||
[1] | Effective January 1, 2016, we adopted changes in consolidation accounting pursuant to ASU 2015-02 (Amendments to the Consolidation Analysis). Accordingly, we recorded a $121 million increase to beginning noncontrolling interests as a cumulative-effect adjustment. |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Cash flows from operating activities: | ||
Net income before noncontrolling interests | $ 11,087 | $ 11,670 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for credit losses | 2,160 | 908 |
Changes in fair value of MSRs, MHFS and LHFS carried at fair value | 1,664 | (90) |
Depreciation, amortization and accretion | 2,233 | 1,558 |
Other net (gains) losses | 1,107 | (3,125) |
Stock-based compensation | 1,176 | 1,178 |
Excess tax benefits related to stock incentive compensation | (178) | (409) |
Originations of MHFS | (85,818) | (94,133) |
Proceeds from sales of and principal collected on mortgages originated for sale | 59,821 | 67,608 |
Proceeds from sales of and principal collected on LHFS | 3 | 6 |
Purchases of LHFS | (3) | (27) |
Net change in: | ||
Trading assets | 20,367 | 19,792 |
Deferred income taxes | (2,286) | (364) |
Accrued interest receivable | (272) | (382) |
Accrued interest payable | 361 | 186 |
Other assets | (15,589) | 2,284 |
Other accrued expenses and liabilities | 2,095 | (5,796) |
Net cash provided (used) by operating activities | (2,072) | 864 |
Net change in: | ||
Federal funds sold, securities purchased under resale agreements and other short-term investments | (25,492) | 26,044 |
Available-for-sale securities: | ||
Sales proceeds | 22,631 | 10,143 |
Prepayments and maturities | 15,182 | 15,847 |
Purchases | (19,602) | (34,968) |
Held-to-maturity securities: | ||
Paydowns and maturities | 2,951 | 2,821 |
Purchases | (19,217) | (22,734) |
Nonmarketable equity investments: | ||
Sales proceeds | 1,060 | 1,894 |
Purchases | (1,998) | (792) |
Loans: | ||
Loans originated by banking subsidiaries, net of principal collected | (21,537) | (22,290) |
Proceeds from sales (including participations) of loans held for investment | 4,736 | 5,248 |
Purchases (including participations) of loans | (3,146) | (10,873) |
Principal collected on nonbank entities’ loans | 5,885 | 5,220 |
Loans originated by nonbank entities | (5,875) | (6,452) |
Net cash paid for acquisitions | (28,987) | 0 |
Proceeds from sales of foreclosed assets and short sales | 3,704 | 3,962 |
Net cash from purchases and sales of MSRs | (23) | (45) |
Other, net | 224 | (1,151) |
Net cash used by investing activities | (69,504) | (28,126) |
Net change in: | ||
Deposits | 22,161 | 17,756 |
Short-term borrowings | 22,730 | 19,445 |
Long-term debt: | ||
Proceeds from issuance | 47,971 | 13,835 |
Repayment | (14,138) | (18,104) |
Preferred stock: | ||
Proceeds from issuance | 2,101 | 1,997 |
Cash dividends paid | (764) | (699) |
Common stock: | ||
Proceeds from issuance | 795 | 1,012 |
Repurchased | (4,243) | (4,586) |
Cash dividends paid | (3,739) | (3,647) |
Excess tax benefits related to stock incentive compensation | 178 | 409 |
Net change in noncontrolling interests | (135) | (84) |
Other, net | (45) | 44 |
Net cash provided by financing activities | 72,872 | 27,378 |
Net change in cash and due from banks | 1,296 | 116 |
Cash and due from banks at beginning of period | 19,111 | 19,571 |
Cash and due from banks at end of period | 20,407 | 19,687 |
Supplemental cash flow disclosures: | ||
Cash paid for interest | 2,357 | 1,747 |
Cash paid for income taxes | $ 4,255 | $ 7,105 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2016 | |
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, 2015 ( 2015 Form 10-K). There were no material changes to these policies in the first half of 2016 . 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, 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 2015 Form 10-K. Accounting Standards Adopted in 2016 In first quarter 2016, we adopted the following new accounting guidance: • Accounting Standards Update (ASU or Update) 2015-16 – Business Combinations ( Topic 805 ): Simplifying the Accounting for Measurement-Period Adjustments; • ASU 2015-07 – Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities that Calculate Net Asset Value per Share (or Its Equivalent); • ASU 2015-03 – Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs; • ASU 2015-02 – Consolidation (Topic 810): Amendments to the Consolidation Analysis; • ASU 2015-01 – Income Statement – Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items; • ASU 2014-16 – Derivatives and Hedging (Topic 815): Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share is More Akin to Debt or to Equity; • ASU 2014-13 – Consolidation (Topic 810): Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity; and • ASU 2014-12 – Compensation – Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. ASU 2015-16 eliminates the requirement for companies to retrospectively adjust initial amounts recognized in business combinations when the accounting is incomplete at the acquisition date. Under the new guidance, companies should record adjustments in the same reporting period in which the amounts are determined. We adopted this accounting change in first quarter 2016 with prospective application. The Update did not have a material impact on our consolidated financial statements. ASU 2015-07 eliminates the disclosure requirement to categorize investments within the fair value hierarchy that are measured at fair value using net asset value as a practical expedient. We adopted this change in first quarter 2016 with retrospective application. The Update did not affect our consolidated financial statements as it impacts only the fair value disclosure requirements for certain investments. For additional information, see Note 13 (Fair Values of Assets and Liabilities). ASU 2015-03 changes the balance sheet presentation for debt issuance costs. Under the new guidance, debt issuance costs should be reported as a deduction from debt liabilities rather than as a deferred charge classified as an asset. We adopted this change in first quarter 2016, which resulted in a $180 million reclassification from Other assets to Long-term debt on January 1, 2016. Because the impact on prior periods was not material, we applied the guidance prospectively. ASU 2015-02 requires companies to reevaluate all legal entities under new consolidation guidance. The new guidance amends the criteria companies use to evaluate whether they should consolidate certain variable interest entities that have fee arrangements and the criteria used to determine whether partnerships and similar entities are variable interest entities. The new guidance also amends the consolidation analysis for certain investment funds and excludes certain money market funds. We adopted the accounting changes on January 1, 2016, which resulted in a net increase in assets and a corresponding cumulative-effect adjustment to noncontrolling interests of $121 million . There was no impact to consolidated retained earnings. For additional information, see Note 7 (Securitizations and Variable Interest Entities). ASU 2015-01 removes the concept of extraordinary items from GAAP and eliminates the requirement for extraordinary items to be separately presented in the statement of income. We adopted this change in first quarter 2016 with prospective application. This Update did not have a material impact on our consolidated financial statements. ASU 2014-16 clarifies that the nature of host contracts in hybrid financial instruments that are issued in share form should be determined based on the entire instrument, including the embedded derivative. We adopted this new requirement in first quarter 2016. This Update did not have a material impact on our consolidated financial statements. ASU 2014-13 provides a measurement alternative to companies that consolidate collateralized financing entities (CFEs), such as collateralized debt obligation and collateralized loan obligation structures. Under the new guidance, companies can measure both the financial assets and financial liabilities of a CFE using the more observable fair value of the financial assets or of the financial liabilities. We adopted this accounting change in first quarter 2016. The Update did not have a material impact on our consolidated financial statements. ASU 2014-12 provides accounting guidance for employee share-based payment awards with specific performance targets. The Update clarifies that performance targets should be treated as performance conditions if the targets affect vesting and could be achieved after the requisite service period. We adopted this change in first quarter 2016 with prospective application. The Update did not have a material effect on our consolidated financial statements, as our historical practice complies with the new requirements. 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 submitted annually under the 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 capital plans, which contemplate 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 June 30, 2016 . At June 30, 2015 , we had a $750 million private repurchase contract outstanding that settled in July 2015 for 13.6 million shares of common stock. SUPPLEMENTAL CASH FLOW INFORMATION Significant noncash activities are presented below. Table 1.1: Supplemental Cash Flow Information Six months ended June 30, (in millions) 2016 2015 Trading assets retained from securitization of MHFS $ 23,403 20,816 Transfers from loans to MHFS 3,309 4,757 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 June 30, 2016 , and there have been no material events that would require recognition in our second quarter 2016 consolidated financial statements or disclosure in the Notes to the consolidated financial statements. |
Business Combinations
Business Combinations | 6 Months Ended |
Jun. 30, 2016 | |
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 also periodically review existing businesses to ensure they remain strategically aligned with our operating business model and risk profile. During the first half of 2016, we completed two acquisitions and refined the related purchase accounting adjustments. On January 1, 2016 , we acquired $4.3 billion in assets associated with GE Railcar Services, which included 77,000 railcars and 1,000 locomotives. The acquired assets included $918 million of loans and capital leases and $3.2 billion of operating lease assets. On March 1, 2016 , we acquired a total of $30.0 billion in assets associated with the North American portion of GE Capital’s Commercial Distribution Finance and Vendor Finance businesses. The acquired assets included $24.2 billion of loans and capital leases, $2.7 billion of operating lease assets, and $2.2 billion of goodwill and intangible assets. The North American portion represented approximately 90% of the total assets to be acquired. The Asia portion was completed on July 1, 2016 , and the Australia and New Zealand portion was completed on August 1, 2016; these consisted of an additional $1.0 billion in acquired assets, with the balance of the international portion expected to close during the remainder of 2016. We also completed two divestitures during the first half of 2016. On March 31, 2016 , we completed the divestiture of Rural Community Insurance, our crop insurance business. The transaction involved the sale of approximately $4 billion in assets, which resulted in a pre-tax gain of $381 million . On May 31, 2016, we sold our health benefit services business, which resulted in a pre-tax gain of $290 million . |
Federal Funds Sold, Securities
Federal Funds Sold, Securities Purchased under Resale Agreements and Other Short-Term Investments | 6 Months Ended |
Jun. 30, 2016 | |
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 Table 3.1 provides the detail of federal funds sold, securities purchased under short-term resale agreements (generally less than one year) and other short-term investments. Substantially all of the interest-earning deposits at June 30, 2016 , and December 31, 2015 , were held at the Federal Reserve. Table 3.1: Fed Funds Sold and Other Short-Term Investments (in millions) Jun 30, Dec 31, Federal funds sold and securities purchased under resale agreements $ 54,593 45,828 Interest-earning deposits 231,210 220,409 Other short-term investments 9,718 3,893 Total $ 295,521 270,130 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 $3.3 billion and $2.2 billion as of June 30, 2016 , and December 31, 2015 , respectively. We have classified securities purchased under long-term resale agreements (generally one year or more), which totaled $23.8 billion and $20.1 billion at June 30, 2016 , and December 31, 2015 , 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 in Note 10 (Guarantees, Pledged Assets and Collateral). |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Note 4: Investment Securities Table 4.1 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. Table 4.1: Amortized Cost and Fair Value (in millions) Amortized Cost Gross unrealized gains Gross unrealized losses Fair value June 30, 2016 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ 27,348 591 — 27,939 Securities of U.S. states and political subdivisions 53,960 1,165 (1,101 ) 54,024 Mortgage-backed securities: Federal agencies 92,929 2,984 (45 ) 95,868 Residential 7,698 605 (32 ) 8,271 Commercial 11,580 155 (68 ) 11,667 Total mortgage-backed securities 112,207 3,744 (145 ) 115,806 Corporate debt securities 13,306 336 (262 ) 13,380 Collateralized loan and other debt obligations (1) 34,551 112 (382 ) 34,281 Other (2) 6,230 99 (55 ) 6,274 Total debt securities 247,602 6,047 (1,945 ) 251,704 Marketable equity securities: Perpetual preferred securities 650 87 (3 ) 734 Other marketable equity securities 218 350 — 568 Total marketable equity securities 868 437 (3 ) 1,302 Total available-for-sale securities 248,470 6,484 (1,948 ) 253,006 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies 44,675 2,642 — 47,317 Securities of U.S. states and political subdivisions 2,181 151 — 2,332 Federal agency mortgage-backed securities 49,594 880 — 50,474 Collateralized loan obligations 1,406 — (21 ) 1,385 Other (2) 2,564 6 (1 ) 2,569 Total held-to-maturity securities 100,420 3,679 (22 ) 104,077 Total $ 348,890 10,163 (1,970 ) 357,083 December 31, 2015 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ 36,374 24 (148 ) 36,250 Securities of U.S. states and political subdivisions 49,167 1,325 (502 ) 49,990 Mortgage-backed securities: Federal agencies 103,391 1,983 (828 ) 104,546 Residential 7,843 740 (25 ) 8,558 Commercial 13,943 230 (85 ) 14,088 Total mortgage-backed securities 125,177 2,953 (938 ) 127,192 Corporate debt securities 15,548 312 (449 ) 15,411 Collateralized loan and other debt obligations (1) 31,210 125 (368 ) 30,967 Other (2) 5,842 115 (46 ) 5,911 Total debt securities 263,318 4,854 (2,451 ) 265,721 Marketable equity securities: Perpetual preferred securities 819 112 (13 ) 918 Other marketable equity securities 239 482 (2 ) 719 Total marketable equity securities 1,058 594 (15 ) 1,637 Total available-for-sale securities 264,376 5,448 (2,466 ) 267,358 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies 44,660 580 (73 ) 45,167 Securities of U.S. states and political subdivisions 2,185 65 — 2,250 Federal agency mortgage-backed securities 28,604 131 (314 ) 28,421 Collateralized loan obligations 1,405 — (24 ) 1,381 Other (2) 3,343 8 (3 ) 3,348 Total held-to-maturity securities 80,197 784 (414 ) 80,567 Total $ 344,573 6,232 (2,880 ) 347,925 (1) The available-for-sale portfolio includes collateralized debt obligations (CDOs) with a cost basis and fair value of $713 million and $719 million , respectively, at June 30, 2016 , and $247 million and $257 million , respectively, at December 31, 2015 . (2) The “Other” category of available-for-sale securities largely includes asset-backed securities collateralized by credit cards, student loans, home equity loans and automobile leases or loans and cash. Included in the “Other” category of held-to-maturity securities are asset-backed securities collateralized by automobile leases or loans and cash with a cost basis and fair value of $1.5 billion each at June 30, 2016 , and $1.9 billion each at December 31, 2015 . 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 $1.1 billion each at June 30, 2016 , and $1.4 billion each at December 31, 2015 . Gross Unrealized Losses and Fair Value Table 4.2 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. Table 4.2: Gross Unrealized Losses and Fair Value 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 June 30, 2016 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ — — — — — — Securities of U.S. states and political subdivisions (170 ) 12,054 (931 ) 13,194 (1,101 ) 25,248 Mortgage-backed securities: Federal agencies (4 ) 2,003 (41 ) 4,105 (45 ) 6,108 Residential (20 ) 1,855 (12 ) 492 (32 ) 2,347 Commercial (21 ) 2,478 (47 ) 2,157 (68 ) 4,635 Total mortgage-backed securities (45 ) 6,336 (100 ) 6,754 (145 ) 13,090 Corporate debt securities (63 ) 2,061 (199 ) 1,614 (262 ) 3,675 Collateralized loan and other debt obligations (219 ) 15,850 (163 ) 11,635 (382 ) 27,485 Other (20 ) 2,193 (35 ) 1,080 (55 ) 3,273 Total debt securities (517 ) 38,494 (1,428 ) 34,277 (1,945 ) 72,771 Marketable equity securities: Perpetual preferred securities — — (3 ) 65 (3 ) 65 Other marketable equity securities — — — — — — Total marketable equity securities — — (3 ) 65 (3 ) 65 Total available-for-sale securities (517 ) 38,494 (1,431 ) 34,342 (1,948 ) 72,836 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies — — — — — — Federal agency mortgage-backed securities — — — — — — Collateralized loan obligations (5 ) 150 (16 ) 1,181 (21 ) 1,331 Other (1 ) 865 — — (1 ) 865 Total held-to-maturity securities (6 ) 1,015 (16 ) 1,181 (22 ) 2,196 Total $ (523 ) 39,509 (1,447 ) 35,523 (1,970 ) 75,032 December 31, 2015 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ (148 ) 24,795 — — (148 ) 24,795 Securities of U.S. states and political subdivisions (26 ) 3,453 (476 ) 12,377 (502 ) 15,830 Mortgage-backed securities: Federal agencies (522 ) 36,329 (306 ) 9,888 (828 ) 46,217 Residential (20 ) 1,276 (5 ) 285 (25 ) 1,561 Commercial (32 ) 4,476 (53 ) 2,363 (85 ) 6,839 Total mortgage-backed securities (574 ) 42,081 (364 ) 12,536 (938 ) 54,617 Corporate debt securities (244 ) 4,941 (205 ) 1,057 (449 ) 5,998 Collateralized loan and other debt obligations (276 ) 22,214 (92 ) 4,844 (368 ) 27,058 Other (33 ) 2,768 (13 ) 425 (46 ) 3,193 Total debt securities (1,301 ) 100,252 (1,150 ) 31,239 (2,451 ) 131,491 Marketable equity securities: Perpetual preferred securities (1 ) 24 (12 ) 109 (13 ) 133 Other marketable equity securities (2 ) 40 — — (2 ) 40 Total marketable equity securities (3 ) 64 (12 ) 109 (15 ) 173 Total available-for-sale securities (1,304 ) 100,316 (1,162 ) 31,348 (2,466 ) 131,664 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies (73 ) 5,264 — — (73 ) 5,264 Federal agency mortgage-backed securities (314 ) 23,115 — — (314 ) 23,115 Collateralized loan obligations (20 ) 1,148 (4 ) 233 (24 ) 1,381 Other (3 ) 1,096 — — (3 ) 1,096 Total held-to-maturity securities (410 ) 30,623 (4 ) 233 (414 ) 30,856 Total $ (1,714 ) 130,939 (1,166 ) 31,581 (2,880 ) 162,520 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 2015 Form 10-K. There were no material changes to our methodologies for assessing impairment in the first half of 2016 . Table 4.3 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 $12 million and $3.4 billion , respectively, at June 30, 2016 , and $17 million and $3.7 billion , respectively, at December 31, 2015 . If an internal credit grade was not assigned, we categorized the security as non-investment grade. Table 4.3: Gross Unrealized Losses and Fair Value by Investment Grade Investment grade Non-investment grade (in millions) Gross unrealized losses Fair value Gross unrealized losses Fair value June 30, 2016 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ — — — — Securities of U.S. states and political subdivisions (1,056 ) 24,902 (45 ) 346 Mortgage-backed securities: Federal agencies (45 ) 6,108 — — Residential (15 ) 1,264 (17 ) 1,083 Commercial (29 ) 3,817 (39 ) 818 Total mortgage-backed securities (89 ) 11,189 (56 ) 1,901 Corporate debt securities (74 ) 1,780 (188 ) 1,895 Collateralized loan and other debt obligations (382 ) 27,485 — — Other (49 ) 2,717 (6 ) 556 Total debt securities (1,650 ) 68,073 (295 ) 4,698 Perpetual preferred securities (3 ) 65 — — Total available-for-sale securities (1,653 ) 68,138 (295 ) 4,698 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies — — — — Federal agency mortgage-backed securities — — — — Collateralized loan obligations (21 ) 1,331 — — Other (1 ) 865 — — Total held-to-maturity securities (22 ) 2,196 — — Total $ (1,675 ) 70,334 (295 ) 4,698 December 31, 2015 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ (148 ) 24,795 — — Securities of U.S. states and political subdivisions (464 ) 15,470 (38 ) 360 Mortgage-backed securities: Federal agencies (828 ) 46,217 — — Residential (12 ) 795 (13 ) 766 Commercial (59 ) 6,361 (26 ) 478 Total mortgage-backed securities (899 ) 53,373 (39 ) 1,244 Corporate debt securities (140 ) 4,167 (309 ) 1,831 Collateralized loan and other debt obligations (368 ) 27,058 — — Other (43 ) 2,915 (3 ) 278 Total debt securities (2,062 ) 127,778 (389 ) 3,713 Perpetual preferred securities (13 ) 133 — — Total available-for-sale securities (2,075 ) 127,911 (389 ) 3,713 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies (73 ) 5,264 — — Federal agency mortgage-backed securities (314 ) 23,115 — — Collateralized loan obligations (24 ) 1,381 — — Other (3 ) 1,096 — — Total held-to-maturity securities (414 ) 30,856 — — Total $ (2,489 ) 158,767 (389 ) 3,713 Contractual Maturities Table 4.4 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. Table 4.4: Contractual Maturities 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 June 30, 2016 Available-for-sale debt securities (1): Securities of U.S. Treasury and federal agencies $ 27,939 1.44 % $ 123 1.64 % $ 27,690 1.43 % $ 126 1.88 % $ — — % Securities of U.S. states and political subdivisions 54,024 5.90 1,439 2.06 8,657 2.33 2,812 5.50 41,116 6.81 Mortgage-backed securities: Federal agencies 95,868 3.20 — — 135 2.61 2,374 3.50 93,359 3.19 Residential 8,271 4.00 — — 30 5.18 39 4.23 8,202 3.99 Commercial 11,667 4.96 — — — — — — 11,667 4.96 Total mortgage-backed securities 115,806 3.44 — — 165 3.09 2,413 3.51 113,228 3.44 Corporate debt securities 13,380 4.76 2,953 3.27 4,313 5.47 4,868 4.85 1,246 5.45 Collateralized loan and other debt obligations 34,281 2.41 1 0.98 695 1.14 16,158 2.36 17,427 2.50 Other 6,274 2.04 48 3.06 1,056 2.40 1,116 1.91 4,054 1.98 Total available-for-sale debt securities at fair value $ 251,704 3.64 % $ 4,564 2.84 % $ 42,576 2.05 % $ 27,493 3.20 % $ 177,071 4.11 % December 31, 2015 Available-for-sale debt securities (1): ` Securities of U.S. Treasury and federal agencies $ 36,250 1.49 % $ 216 0.77 % $ 31,602 1.44 % $ 4,432 1.86 % $ — — % Securities of U.S. states and political subdivisions 49,990 5.82 1,969 2.09 7,709 2.02 3,010 5.25 37,302 6.85 Mortgage-backed securities: Federal agencies 104,546 3.29 3 6.55 373 1.58 1,735 3.84 102,435 3.29 Residential 8,558 4.17 — — 34 5.11 34 6.03 8,490 4.16 Commercial 14,088 5.06 — — 61 2.79 — — 14,027 5.07 Total mortgage-backed securities 127,192 3.54 3 6.55 468 1.99 1,769 3.88 124,952 3.55 Corporate debt securities 15,411 4.57 1,960 3.84 6,731 4.47 5,459 4.76 1,261 5.47 Collateralized loan and other debt obligations 30,967 2.08 2 0.33 804 0.90 12,707 2.01 17,454 2.19 Other 5,911 2.05 68 2.47 1,228 2.57 953 1.94 3,662 1.89 Total available-for-sale debt securities at fair value $ 265,721 3.55 % $ 4,218 2.84 % $ 48,542 1.98 % $ 28,330 2.98 % $ 184,631 4.07 % (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. Table 4.5 shows the amortized cost and weighted-average yields of held-to-maturity debt securities by contractual maturity. Table 4.5: Amortized Cost 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 June 30, 2016 Held-to-maturity securities (1): Amortized cost: Securities of U.S. Treasury and federal agencies $ 44,675 2.12 % $ — — % $ 20,911 2.08 % $ 23,764 2.15 % $ — — % Securities of U.S. states and political subdivisions 2,181 5.97 — — — — 119 7.53 2,062 5.88 Federal agency mortgage-backed securities 49,594 3.25 — — — — — — 49,594 3.25 Collateralized loan obligations 1,406 2.36 — — — — 239 2.28 1,167 2.37 Other 2,564 1.59 — — 1,916 1.65 648 1.42 — — Total held-to-maturity debt securities at amortized cost $ 100,420 2.75 % $ — — % $ 22,827 2.04 % $ 24,770 2.16 % $ 52,823 3.33 % December 31, 2015 Held-to-maturity securities (1): Amortized cost: Securities of U.S. Treasury and federal agencies $ 44,660 2.12 % $ — — % $ 1,276 1.75 % $ 43,384 2.13 % $ — — % Securities of U.S. states and political subdivisions 2,185 5.97 — — — — 104 7.49 2,081 5.89 Federal agency mortgage-backed securities 28,604 3.47 — — — — — — 28,604 3.47 Collateralized loan obligations 1,405 2.03 — — — — — — 1,405 2.03 Other 3,343 1.68 — — 2,351 1.74 992 1.53 — — Total held-to-maturity debt securities at amortized cost $ 80,197 2.69 % $ — — % $ 3,627 1.74 % $ 44,480 2.13 % $ 32,090 3.57 % (1) Weighted-average yields displayed by maturity bucket are weighted based on amortized cost and predominantly represent contractual coupon rates. Table 4.6 shows the fair value of held-to-maturity debt securities by contractual maturity. Table 4.6: Fair Value 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 June 30, 2016 Held-to-maturity securities: Fair value: Securities of U.S. Treasury and federal agencies $ 47,317 — 22,089 25,228 — Securities of U.S. states and political subdivisions 2,332 — — 125 2,207 Federal agency mortgage-backed securities 50,474 — — — 50,474 Collateralized loan obligations 1,385 — — 238 1,147 Other 2,569 — 1,919 650 — Total held-to-maturity debt securities at fair value $ 104,077 — 24,008 26,241 53,828 December 31, 2015 Held-to-maturity securities: Fair value: Securities of U.S. Treasury and federal agencies $ 45,167 — 1,298 43,869 — Securities of U.S. states and political subdivisions 2,250 — — 105 2,145 Federal agency mortgage-backed securities 28,421 — — — 28,421 Collateralized loan obligations 1,381 — — — 1,381 Other 3,348 — 2,353 995 — Total held-to-maturity debt securities at fair value $ 80,567 — 3,651 44,969 31,947 Realized Gains and Losses Table 4.7 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)). Table 4.7: Realized Gains and Losses Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Gross realized gains $ 564 255 949 603 Gross realized losses (31 ) (15 ) (44 ) (35 ) OTTI write-downs (26 ) (21 ) (95 ) (52 ) Net realized gains from available-for-sale securities 507 219 810 516 Net realized gains from nonmarketable equity investments 129 479 314 830 Net realized gains from debt securities and equity investments $ 636 698 1,124 1,346 Other-Than-Temporary Impairment Table 4.8 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 half of 2016 and 2015 . Table 4.8: OTTI Write-downs Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 OTTI write-downs included in earnings Debt securities: Securities of U.S. states and political subdivisions $ 6 — 10 16 Mortgage-backed securities: Residential 12 19 24 34 Commercial — — 1 — Corporate debt securities 5 1 50 1 Other debt securities 3 — 6 — Total debt securities 26 20 91 51 Equity securities: Marketable equity securities: Other marketable equity securities — 1 4 1 Total marketable equity securities — 1 4 1 Total investment securities (1) 26 21 95 52 Nonmarketable equity investments (1) 104 75 233 117 Total OTTI write-downs included in earnings (1) $ 130 96 328 169 (1) The quarter ended June 30, 2016 , includes $29 million in OTTI write-downs of oil and gas investments, of which $5 million related to investment securities and $24 million related to nonmarketable equity investments. Oil and gas related OTTI for the first half of 2016 totaled $153 million , of which $51 million related to investment securities and $102 million related to nonmarketable equity investments. Other-Than-Temporarily Impaired Debt Securities Table 4.9 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. Table 4.9: OTTI Write-downs Included in Earnings Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 OTTI on debt securities Recorded as part of gross realized losses: Credit-related OTTI $ 20 19 81 39 Intent-to-sell OTTI 6 1 10 12 Total recorded as part of gross realized losses 26 20 91 51 Changes to OCI for losses (reversal of losses) in non-credit-related OTTI (1): Securities of U.S. states and political subdivisions — — — (1 ) Residential mortgage-backed securities (5 ) (10 ) 5 (31 ) Commercial mortgage-backed securities (1 ) — 2 (15 ) Corporate debt securities (9 ) — (13 ) — Other debt securities — — 2 — Total changes to OCI for non-credit-related OTTI (15 ) (10 ) (4 ) (47 ) Total OTTI losses recorded on debt securities $ 11 10 87 4 (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. Table 4.10 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. Table 4.10: Rollforward of OTTI Credit Loss Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Credit loss recognized, beginning of period $ 1,145 1,029 1,092 1,025 Additions: For securities with initial credit impairments — — 38 — For securities with previous credit impairments 20 19 43 39 Total additions 20 19 81 39 Reductions: For securities sold, matured, or intended/required to be sold (83 ) (52 ) (89 ) (66 ) For recoveries of previous credit impairments (1) (2 ) (3 ) (4 ) (5 ) Total reductions (85 ) (55 ) (93 ) (71 ) Credit loss recognized, end of period $ 1,080 993 1,080 993 (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 | 6 Months Ended |
Jun. 30, 2016 | |
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |
Loans and Allowance for Credit Losses | Note 5: Loans and Allowance for Credit Losses Table 5.1 presents total loans outstanding by portfolio segment and class of financing receivable. Outstanding balances include a total net reduction of $4.8 billion and $3.8 billion at June 30, 2016 , and December 31, 2015 , respectively, for unearned income, net deferred loan fees, and unamortized discounts and premiums. Outstanding balances at June 30, 2016 also reflect the acquisition of various loans and capital leases from GE Capital as described in Note 2 (Business Combinations). Table 5.1: Loans Outstanding (in millions) Jun 30, Dec 31, Commercial: Commercial and industrial $ 323,858 299,892 Real estate mortgage 128,320 122,160 Real estate construction 23,387 22,164 Lease financing 18,973 12,367 Total commercial 494,538 456,583 Consumer: Real estate 1-4 family first mortgage 277,162 273,869 Real estate 1-4 family junior lien mortgage 49,772 53,004 Credit card 34,137 34,039 Automobile 61,939 59,966 Other revolving credit and installment 39,609 39,098 Total consumer 462,619 459,976 Total loans $ 957,157 916,559 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. Table 5.2 presents total commercial foreign loans outstanding by class of financing receivable. Table 5.2: Commercial Foreign Loans Outstanding (in millions) Jun 30, Dec 31, Commercial foreign loans: Commercial and industrial $ 50,515 49,049 Real estate mortgage 8,467 8,350 Real estate construction 246 444 Lease financing 987 274 Total commercial foreign loans $ 60,215 58,117 Loan Purchases, Sales, and Transfers Table 5.3 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 also includes participating interests, whereby we receive or transfer a portion of a loan. The table excludes PCI loans and loans for which we have elected the fair value option, including loans originated for sale because their loan activity normally does not impact the allowance for credit losses. Table 5.3: Loan Purchases, Sales, and Transfers 2016 2015 (in millions) Commercial (1) Consumer (2) Total Commercial Consumer (2) Total Quarter ended June 30, Purchases $ 2,607 — 2,607 9,739 311 10,050 Sales (385 ) (407 ) (792 ) (157 ) (1 ) (158 ) Transfers to MHFS/LHFS (69 ) (1 ) (70 ) (45 ) (5 ) (50 ) Six months ended June 30, Purchases $ 27,253 — 27,253 10,830 311 11,141 Sales (608 ) (679 ) (1,287 ) (363 ) (30 ) (393 ) Transfers to MHFS/LHFS (101 ) (4 ) (105 ) (52 ) (7 ) (59 ) (1) Purchases include loans and capital leases from the GE Capital acquisitions as described in Note 2 (Business Combinations). (2) Excludes 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, and manage and/or resell them in accordance with applicable requirements. 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. 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 $78 billion at June 30, 2016 and $75 billion at December 31, 2015 . We issue commercial letters of credit to assist customers in purchasing goods or services, typically for international trade. At June 30, 2016 , and December 31, 2015 , we had $1.2 billion and $1.1 billion , respectively, 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 is 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, automobiles, 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 Table 5.4 . The table excludes the standby and commercial letters of credit and temporary advance arrangements described above. Table 5.4: Unfunded Credit Commitments (in millions) Jun 30, Dec 31, Commercial: Commercial and industrial $ 303,407 296,710 Real estate mortgage 7,595 7,378 Real estate construction 19,290 18,047 Total commercial 330,292 322,135 Consumer: Real estate 1-4 family first mortgage 39,392 34,621 Real estate 1-4 family junior lien mortgage 42,589 43,309 Credit card 102,932 98,904 Other revolving credit and installment 27,869 27,899 Total consumer 212,782 204,733 Total unfunded credit commitments $ 543,074 526,868 Allowance for Credit Losses Table 5.5 presents the allowance for credit losses, which consists of the allowance for loan losses and the allowance for unfunded credit commitments. Table 5.5: Allowance for Credit Losses Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Balance, beginning of period $ 12,668 13,013 12,512 13,169 Provision for credit losses 1,074 300 2,160 908 Interest income on certain impaired loans (1) (51 ) (50 ) (99 ) (102 ) Loan charge-offs: Commercial: Commercial and industrial (437 ) (154 ) (786 ) (287 ) Real estate mortgage (3 ) (16 ) (6 ) (39 ) Real estate construction (1 ) (1 ) (1 ) (2 ) Lease financing (17 ) (3 ) (21 ) (6 ) Total commercial (458 ) (174 ) (814 ) (334 ) Consumer: Real estate 1-4 family first mortgage (123 ) (119 ) (260 ) (249 ) Real estate 1-4 family junior lien mortgage (133 ) (163 ) (266 ) (342 ) Credit card (320 ) (284 ) (634 ) (562 ) Automobile (176 ) (150 ) (387 ) (345 ) Other revolving credit and installment (163 ) (151 ) (338 ) (305 ) Total consumer (915 ) (867 ) (1,885 ) (1,803 ) Total loan charge-offs (1,373 ) (1,041 ) (2,699 ) (2,137 ) Loan recoveries: Commercial: Commercial and industrial 69 73 145 142 Real estate mortgage 23 31 55 65 Real estate construction 4 7 12 17 Lease financing 5 1 8 4 Total commercial 101 112 220 228 Consumer: Real estate 1-4 family first mortgage 109 52 198 99 Real estate 1-4 family junior lien mortgage 71 69 130 125 Credit card 50 41 102 80 Automobile 86 82 170 176 Other revolving credit and installment 32 35 69 71 Total consumer 348 279 669 551 Total loan recoveries 449 391 889 779 Net loan charge-offs (924 ) (650 ) (1,810 ) (1,358 ) Other (18 ) 1 (14 ) (3 ) Balance, end of period $ 12,749 12,614 12,749 12,614 Components: Allowance for loan losses $ 11,664 11,754 11,664 11,754 Allowance for unfunded credit commitments 1,085 860 1,085 860 Allowance for credit losses $ 12,749 12,614 12,749 12,614 Net loan charge-offs (annualized) as a percentage of average total loans 0.39 % 0.30 0.39 0.32 Allowance for loan losses as a percentage of total loans 1.22 1.32 1.22 1.32 Allowance for credit losses as a percentage of total loans 1.33 1.42 1.33 1.42 (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. Table 5.6 summarizes the activity in the allowance for credit losses by our commercial and consumer portfolio segments. Table 5.6: Allowance Activity by Portfolio Segment 2016 2015 (in millions) Commercial Consumer Total Commercial Consumer Total Quarter ended June 30, Balance, beginning of period $ 7,348 5,320 12,668 6,333 6,680 13,013 Provision for credit losses 478 596 1,074 11 289 300 Interest income on certain impaired loans (10 ) (41 ) (51 ) (4 ) (46 ) (50 ) Loan charge-offs (458 ) (915 ) (1,373 ) (174 ) (867 ) (1,041 ) Loan recoveries 101 348 449 112 279 391 Net loan charge-offs (357 ) (567 ) (924 ) (62 ) (588 ) (650 ) Other (18 ) — (18 ) 1 — 1 Balance, end of period $ 7,441 5,308 12,749 6,279 6,335 12,614 Six months ended June 30, Balance, beginning of period $ 6,872 5,640 12,512 6,377 6,792 13,169 Provision for credit losses 1,192 968 2,160 20 888 908 Interest income on certain impaired loans (15 ) (84 ) (99 ) (9 ) (93 ) (102 ) Loan charge-offs (814 ) (1,885 ) (2,699 ) (334 ) (1,803 ) (2,137 ) Loan recoveries 220 669 889 228 551 779 Net loan charge-offs (594 ) (1,216 ) (1,810 ) (106 ) (1,252 ) (1,358 ) Other (14 ) — (14 ) (3 ) — (3 ) Balance, end of period $ 7,441 5,308 12,749 6,279 6,335 12,614 Table 5.7 disaggregates our allowance for credit losses and recorded investment in loans by impairment methodology. Table 5.7: Allowance by Impairment Methodology Allowance for credit losses Recorded investment in loans (in millions) Commercial Consumer Total Commercial Consumer Total June 30, 2016 Collectively evaluated (1) $ 6,233 3,450 9,683 487,062 426,302 913,364 Individually evaluated (2) 1,206 1,858 3,064 5,880 18,576 24,456 PCI (3) 2 — 2 1,596 17,741 19,337 Total $ 7,441 5,308 12,749 494,538 462,619 957,157 December 31, 2015 Collectively evaluated (1) $ 5,999 3,436 9,435 452,063 420,705 872,768 Individually evaluated (2) 872 2,204 3,076 3,808 20,012 23,820 PCI (3) 1 — 1 712 19,259 19,971 Total $ 6,872 5,640 12,512 456,583 459,976 916,559 (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).We obtain FICO scores at loan origination and the scores are generally updated at least quarterly, except in limited circumstances, including compliance with the Fair Credit Reporting Act (FCRA). Generally, the LTV and CLTV indicators are updated in the second month of each quarter, with updates no older than March 31, 2016 . See the “Purchased Credit-Impaired Loans” section in 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. Table 5.8 provides a breakdown of outstanding commercial loans by risk category. Of the $25.7 billion in criticized commercial and industrial loans and $6.3 billion in criticized commercial real estate (CRE) loans at June 30, 2016 , $3.5 billion and $931 million , respectively, have been placed on nonaccrual status and written down to net realizable collateral value. Table 5.8: Commercial Loans by Risk Category (in millions) Commercial and industrial Real estate mortgage Real estate construction Lease financing Total June 30, 2016 By risk category: Pass $ 297,032 122,078 22,817 17,331 459,258 Criticized 25,746 5,796 500 1,642 33,684 Total commercial loans (excluding PCI) 322,778 127,874 23,317 18,973 492,942 Total commercial PCI loans (carrying value) 1,080 446 70 — 1,596 Total commercial loans $ 323,858 128,320 23,387 18,973 494,538 December 31, 2015 By risk category: Pass $ 281,356 115,025 21,546 11,772 429,699 Criticized 18,458 6,593 526 595 26,172 Total commercial loans (excluding PCI) 299,814 121,618 22,072 12,367 455,871 Total commercial PCI loans (carrying value) 78 542 92 — 712 Total commercial loans $ 299,892 122,160 22,164 12,367 456,583 Table 5.9 provides past due information for commercial loans, which we monitor as part of our credit risk management practices. Table 5.9: Commercial Loans by Delinquency Status (in millions) Commercial and industrial Real estate mortgage Real estate construction Lease financing Total June 30, 2016 By delinquency status: Current-29 days past due (DPD) and still accruing $ 318,731 126,792 23,140 18,736 487,399 30-89 DPD and still accruing 547 188 118 125 978 90+ DPD and still accruing 36 22 — — 58 Nonaccrual loans 3,464 872 59 112 4,507 Total commercial loans (excluding PCI) 322,778 127,874 23,317 18,973 492,942 Total commercial PCI loans (carrying value) 1,080 446 70 — 1,596 Total commercial loans $ 323,858 128,320 23,387 18,973 494,538 December 31, 2015 By delinquency status: Current-29 DPD and still accruing $ 297,847 120,415 21,920 12,313 452,495 30-89 DPD and still accruing 507 221 82 28 838 90+ DPD and still accruing 97 13 4 — 114 Nonaccrual loans 1,363 969 66 26 2,424 Total commercial loans (excluding PCI) 299,814 121,618 22,072 12,367 455,871 Total commercial PCI loans (carrying value) 78 542 92 — 712 Total commercial loans $ 299,892 122,160 22,164 12,367 456,583 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. Table 5.10 provides the outstanding balances of our consumer portfolio by delinquency status. Table 5.10: Consumer Loans 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 June 30, 2016 By delinquency status: Current-29 DPD $ 233,153 48,712 33,403 60,697 39,257 415,222 30-59 DPD 1,916 298 227 947 133 3,521 60-89 DPD 746 163 159 223 97 1,388 90-119 DPD 317 91 123 68 80 679 120-179 DPD 341 109 224 4 21 699 180+ DPD 2,419 348 1 — 21 2,789 Government insured/guaranteed loans (1) 20,580 — — — — 20,580 Total consumer loans (excluding PCI) 259,472 49,721 34,137 61,939 39,609 444,878 Total consumer PCI loans (carrying value) 17,690 51 — — — 17,741 Total consumer loans $ 277,162 49,772 34,137 61,939 39,609 462,619 December 31, 2015 By delinquency status: Current-29 DPD $ 225,195 51,778 33,208 58,503 38,690 407,374 30-59 DPD 2,072 325 257 1,121 175 3,950 60-89 DPD 821 184 177 253 107 1,542 90-119 DPD 402 110 150 84 86 832 120-179 DPD 460 145 246 4 21 876 180+ DPD 3,376 393 1 1 19 3,790 Government insured/guaranteed loans (1) 22,353 — — — — 22,353 Total consumer loans (excluding PCI) 254,679 52,935 34,039 59,966 39,098 440,717 Total consumer PCI loans (carrying value) 19,190 69 — — — 19,259 Total consumer loans $ 273,869 53,004 34,039 59,966 39,098 459,976 (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 $10.8 billion at June 30, 2016 , compared with $12.4 billion at December 31, 2015 . Of the $4.2 billion of consumer loans not government insured/guaranteed that are 90 days or more past due at June 30, 2016 , $730 million was accruing, compared with $5.5 billion past due and $867 million accruing at December 31, 2015 . Real estate 1-4 family first mortgage loans 180 days or more past due totaled $2.4 billion , or 0.9% of total first mortgages (excluding PCI), at June 30, 2016 , compared with $3.4 billion , or 1.3% , at December 31, 2015 . Table 5.11 provides a breakdown of our consumer portfolio by FICO. Most 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, substantially all of which are security-based loans originated through retail brokerage of $7.5 billion at June 30, 2016 , and $7.0 billion at December 31, 2015 . Table 5.11: Consumer Loans by FICO (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 June 30, 2016 By FICO: < 600 $ 7,842 2,614 3,048 9,782 943 24,229 600-639 6,253 2,184 2,893 6,999 1,056 19,385 640-679 12,538 4,127 5,326 10,335 2,378 34,704 680-719 24,250 7,147 6,937 11,188 4,367 53,889 720-759 38,140 10,360 7,201 8,528 5,987 70,216 760-799 99,093 15,752 5,836 7,923 8,260 136,864 800+ 46,613 6,782 2,792 6,747 6,565 69,499 No FICO available 4,163 755 104 437 2,521 7,980 FICO not required — — — — 7,532 7,532 Government insured/guaranteed loans (1) 20,580 — — — — 20,580 Total consumer loans (excluding PCI) 259,472 49,721 34,137 61,939 39,609 444,878 Total consumer PCI loans (carrying value) 17,690 51 — — — 17,741 Total consumer loans $ 277,162 49,772 34,137 61,939 39,609 462,619 December 31, 2015 By FICO: < 600 $ 8,716 3,025 2,927 9,260 965 24,893 600-639 6,961 2,367 2,875 6,619 1,086 19,908 640-679 13,006 4,613 5,354 10,014 2,416 35,403 680-719 24,460 7,863 6,857 10,947 4,388 54,515 720-759 38,309 10,966 7,017 8,279 6,010 70,581 760-799 92,975 16,369 5,693 7,761 8,351 131,149 800+ 44,452 6,895 3,090 6,654 6,510 67,601 No FICO available 3,447 837 226 432 2,395 7,337 FICO not required — — — — 6,977 6,977 Government insured/guaranteed loans (1) 22,353 — — — — 22,353 Total consumer loans (excluding PCI) 254,679 52,935 34,039 59,966 39,098 440,717 Total consumer PCI loans (carrying value) 19,190 69 — — — 19,259 Total consumer loans $ 273,869 53,004 34,039 59,966 39,098 459,976 (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. Table 5.12 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 due to industry data availability and portfolios acquired from or serviced by other institutions. Table 5.12: Consumer Loans by LTV/CLTV June 30, 2016 December 31, 2015 (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% $ 114,333 16,043 130,376 109,558 15,805 125,363 60.01-80% 94,888 15,864 110,752 92,005 16,579 108,584 80.01-100% 23,065 10,217 33,282 22,765 11,385 34,150 100.01-120% (1) 3,603 4,673 8,276 4,480 5,545 10,025 > 120% (1) 1,607 2,397 4,004 2,065 3,051 5,116 No LTV/CLTV available 1,396 527 1,923 1,453 570 2,023 Government insured/guaranteed loans (2) 20,580 — 20,580 22,353 — 22,353 Total consumer loans (excluding PCI) 259,472 49,721 309,193 254,679 52,935 307,614 Total consumer PCI loans (carrying value) 17,690 51 17,741 19,190 69 19,259 Total consumer loans $ 277,162 49,772 326,934 273,869 53,004 326,873 (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 Table 5.13 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. Table 5.13: Nonaccrual Loans (in millions) Jun 30, Dec 31, Commercial: Commercial and industrial $ 3,464 1,363 Real estate mortgage 872 969 Real estate construction 59 66 Lease financing 112 26 Total commercial 4,507 2,424 Consumer: Real estate 1-4 family first mortgage (1) 5,970 7,293 Real estate 1-4 family junior lien mortgage 1,330 1,495 Automobile 111 121 Other revolving credit and installment 45 49 Total consumer 7,456 8,958 Total nonaccrual loans (excluding PCI) $ 11,963 11,382 (1) Includes MHFS of $155 million and $177 million at June 30, 2016 , and December 31, 2015 , 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 $9.4 billion and $11.0 billion at June 30, 2016 and December 31, 2015 , respectively, which included $5.3 billion and $6.2 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 $2.4 billion at June 30, 2016 , and $2.9 billion at December 31, 2015 , 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. Table 5.14 shows non-PCI loans 90 days or more past due and still accruing by class for loans not government insured/guaranteed. Table 5.14: Loans 90 Days or More Past Due and Still Accruing (in millions) Jun 30, 2016 Dec 31, 2015 Loans 90 days or more past due and still accruing: Total (excluding PCI): $ 12,385 14,380 Less: FHA insured/guaranteed by the VA (1)(2) 11,577 13,373 Less: Student loans guaranteed under the FFELP (3) 20 26 Total, not government insured/guaranteed $ 788 981 By segment and class, not government insured/guaranteed: Commercial: Commercial and industrial $ 36 97 Real estate mortgage 22 13 Real estate construction — 4 Total commercial 58 114 Consumer: Real estate 1-4 family first mortgage (2) 169 224 Real estate 1-4 family junior lien mortgage (2) 52 65 Credit card 348 397 Automobile 64 79 Other revolving credit and installment 97 102 Total consumer 730 867 Total, not government insured/guaranteed $ 788 981 (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 Table 5.15 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. Table 5.15 includes trial modifications that totaled $364 million at June 30, 2016 , and $402 million at December 31, 2015 . For additional information on our impaired loans and allowance for credit losses, see Note 1 (Summary of Significant Accounting Policies) in our 2015 Form 10-K. Table 5.15: Impaired Loans Summary Recorded investment (in millions) Unpaid principal balance (1) Impaired loans Impaired loans with related allowance for credit losses Related allowance for credit losses June 30, 2016 Commercial: Commercial and industrial $ 5,270 3,977 3,766 846 Real estate mortgage 2,141 1,681 1,669 310 Real estate construction 210 112 98 23 Lease financing 129 110 110 27 Total commercial 7,750 5,880 5,643 1,206 Consumer: Real estate 1-4 family first mortgage 17,975 15,799 10,426 1,335 Real estate 1-4 family junior lien mortgage 2,567 2,306 1,757 409 Credit card 291 291 291 94 Automobile 157 92 34 5 Other revolving credit and installment 95 88 80 15 Total consumer (2) 21,085 18,576 12,588 1,858 Total impaired loans (excluding PCI) $ 28,835 24,456 18,231 3,064 December 31, 2015 Commercial: Commercial and industrial $ 2,746 1,835 1,648 435 Real estate mortgage 2,369 1,815 1,773 405 Real estate construction 262 131 112 23 Lease financing 38 27 27 9 Total commercial 5,415 3,808 3,560 872 Consumer: Real estate 1-4 family first mortgage 19,626 17,121 11,057 1,643 Real estate 1-4 family junior lien mortgage 2,704 2,408 1,859 447 Credit card 299 299 299 94 Automobile 173 105 41 5 Other revolving credit and installment 86 79 71 15 Total consumer (2) 22,888 20,012 13,327 2,204 Total impaired loans (excluding PCI) $ 28,303 23,820 16,887 3,076 (1) Excludes the unpaid principal balance for loans that have been fully charged off or otherwise have zero recorded investment. (2) Periods ended June 30, 2016 and December 31, 2015 include the recorded investment of $1.7 billion and $1.8 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 may also have limited, if any, allowance when the recorded investment of the loan approximates estimated net realizable value as a result of charge-offs prior to a TDR modification. Commitments to lend additional funds on loans whose terms have been modified in a TDR amounted to $198 million and $363 million at June 30, 2016 and December 31, 2015 , respectively. Table 5.16 provides the average recorded investment in impaired loans and the amount of interest income recognized on impaired loans by portfolio segment and class. Table 5.16: Average Recorded Investment in Impaired Loans Quarter ended June 30, Six months ended June 30, 2016 2015 2016 2015 (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 $ 3,803 21 1,109 23 3,146 40 1,050 43 Real estate mortgage 1,695 34 2,280 31 1,730 66 2,331 74 Real estate construction 116 3 264 11 122 5 284 15 Lease financing 93 — 23 — 79 — 22 — Total commercial 5,707 58 3,676 65 5,077 111 3,687 132 Consumer: Real estate 1-4 family first mortgage 16,278 211 18,161 235 16,595 432 18,321 466 Real estate 1-4 family junior lien mortgage 2,325 33 2,507 34 2,354 67 2,514 69 Credit card 293 8 321 10 295 17 326 20 Automobile 94 3 118 4 98 6 121 8 Other revolving credit and installment 84 2 57 1 80 3 54 2 Total consumer 19,074 257 21,164 284 19,422 525 21,336 565 Total impaired loans (excluding PCI) $ 24,781 315 24,840 349 24,499 636 25,023 697 Interest income: Cash basis of accounting $ 92 111 187 219 Other (1) 223 238 449 478 Total interest income $ 315 349 636 697 (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, the balance of which totaled $22.0 billion and $22.7 billion at June 30, 2016 and December 31, 2015 , respectively. 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, |
Other Assets
Other Assets | 6 Months Ended |
Jun. 30, 2016 | |
Other Assets [Abstract] | |
Other Assets | Note 6: Other Assets Table 6.1 presents the components of other assets. Table 6.1: Other Assets (in millions) Jun 30, Dec 31, Nonmarketable equity investments: Cost method: Federal bank stock $ 5,686 4,814 Private equity 1,481 1,626 Auction rate securities 558 595 Total cost method 7,725 7,035 Equity method: LIHTC (1) 8,949 8,314 Private equity 3,521 3,300 Tax-advantaged renewable energy 1,538 1,625 New market tax credit and other 320 408 Total equity method 14,328 13,647 Fair value (2) 3,046 3,065 Total nonmarketable equity investments 25,099 23,747 Corporate/bank-owned life insurance 19,281 19,199 Accounts receivable (3) 35,056 26,251 Interest receivable 5,241 5,065 Core deposit intangibles 2,079 2,539 Customer relationship and other amortized intangibles 1,263 614 Foreclosed assets: Residential real estate: Government insured/guaranteed (3) 321 446 Non-government insured/guaranteed 335 414 Non-residential real estate 461 565 Operating lease assets 10,285 3,782 Due from customers on acceptances 222 273 Other (4) 23,501 17,887 Total other assets $ 123,144 100,782 (1) Represents low income housing tax credit investments. (2) 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. (3) Certain government-guaranteed residential real estate mortgage loans upon foreclosure are included in Accounts receivable. 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 2015 10-K. (4) 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. Table 6.2 presents income (expense) related to nonmarketable equity investments. Table 6.2: Nonmarketable Equity Investments Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Net realized gains from nonmarketable equity investments $ 129 479 $ 314 830 All other (135 ) (278 ) (321 ) (426 ) Total $ (6 ) 201 $ (7 ) 404 Low Income Housing Tax Credit Investments We invest in affordable housing projects that qualify for the low income housing tax credit (LIHTC), which is designed to promote private development of low income housing. These investments generate a return mostly through realization of federal tax credits. Total LIHTC investments were $8.9 billion and $8.3 billion at June 30, 2016 and December 31, 2015 , respectively. In second quarter and first half of 2016 , we recognized pre-tax losses of $199 million and $401 million , respectively, related to our LIHTC investments, compared with $178 million and $356 million , respectively, for the same periods a year ago. We also recognized total tax benefits of $304 million and $611 million in the second quarter and first half of 2016 , which included tax credits recorded in income taxes of $230 million and $460 million for the same periods, respectively. In the second quarter and first half of 2015 , total tax benefits were $274 million and $550 million , respectively, which included tax credits of $207 million and $416 million for the same periods, respectively. We are periodically required to provide additional financial support during the investment period. Our liability for these unfunded commitments was $3.3 billion at June 30, 2016 and $3.0 billion at December 31, 2015 . Predominantly all of this liability 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 | 6 Months Ended |
Jun. 30, 2016 | |
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 SPEs, which are corporations, trusts, limited liability companies 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 2015 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. Table 7.1 provides the classifications of assets and liabilities in our balance sheet for our transactions with VIEs. Table 7.1: Balance Sheet Transactions with VIEs (in millions) VIEs that we do not consolidate VIEs that we consolidate Transfers that we account for as secured borrowings Total June 30, 2016 Cash $ — 172 — 172 Federal funds sold, securities purchased under resale agreements and other short-term investments — 135 — 135 Trading assets 2,540 101 203 2,844 Investment securities (1) 10,205 303 1,185 11,693 Loans 7,707 12,868 4,400 24,975 Mortgage servicing rights 10,729 — — 10,729 Other assets 9,538 447 15 10,000 Total assets 40,719 14,026 5,803 60,548 Short-term borrowings — — 1,199 1,199 Accrued expenses and other liabilities 450 85 (2) 2 537 Long-term debt 3,291 4,043 (2) 4,351 11,685 Total liabilities 3,741 4,128 5,552 13,421 Noncontrolling interests — 149 — 149 Net assets $ 36,978 9,749 251 46,978 December 31, 2015 Cash $ — 157 — 157 Federal funds sold, securities purchased under resale agreements and other short-term investments — — — — Trading assets 1,340 1 203 1,544 Investment securities (1) 12,388 425 2,171 14,984 Loans 9,661 4,811 4,887 19,359 Mortgage servicing rights 12,518 — — 12,518 Other assets 8,938 242 26 9,206 Total assets 44,845 5,636 7,287 57,768 Short-term borrowings — — 1,799 1,799 Accrued expenses and other liabilities 629 57 (2) 1 687 Long-term debt 3,021 1,301 (2) 4,844 9,166 Total liabilities 3,650 1,358 6,644 11,652 Noncontrolling interests — 93 — 93 Net assets $ 41,195 4,185 643 46,023 (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 unconsolidated VIEs include securitizations of residential mortgage loans, CRE loans, student loans, automobile loans and leases, certain dealer floorplan loans; investment and financing activities involving collateralized debt obligations (CDOs) backed by asset-backed and CRE securities, tax credit structures, 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 in trading assets, investment securities, loans, MSRs, other assets, other liabilities, and long-term debt, as appropriate. Table 7.2 provides 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). Table 7.2: Unconsolidated VIEs Carrying value – asset (liability) (in millions) Total VIE assets Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Net assets June 30, 2016 Residential mortgage loan securitizations: Conforming (2) $ 1,181,463 3,431 9,829 — (268 ) 12,992 Other/nonconforming 22,132 1,125 115 — (2 ) 1,238 Commercial mortgage securitizations 173,135 5,185 785 324 (31 ) 6,263 Collateralized debt obligations: Debt securities 2,611 — — 58 (39 ) 19 Loans (3) 1,589 1,551 — — — 1,551 Asset-based finance structures 11,482 8,001 — — — 8,001 Tax credit structures 27,157 9,743 — — (3,320 ) 6,423 Collateralized loan obligations 600 57 — — — 57 Investment funds 209 49 — — — 49 Other (4) 12,588 466 — (81 ) — 385 Total $ 1,432,966 29,608 10,729 301 (3,660 ) 36,978 Maximum exposure to loss Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Total exposure Residential mortgage loan securitizations: Conforming $ 3,431 9,829 — 1,074 14,334 Other/nonconforming 1,125 115 — 2 1,242 Commercial mortgage securitizations 5,185 785 324 8,699 14,993 Collateralized debt obligations: Debt securities — — 58 39 97 Loans (3) 1,551 — — — 1,551 Asset-based finance structures 8,001 — — 444 8,445 Tax credit structures 9,743 — — 976 10,719 Collateralized loan obligations 57 — — — 57 Investment funds 49 — — — 49 Other (4) 466 — 119 — 585 Total $ 29,608 10,729 501 11,234 52,072 (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, 2015 Residential mortgage loan securitizations: Conforming (2) $ 1,199,225 2,458 11,665 — (386 ) 13,737 Other/nonconforming 24,809 1,228 141 — (1 ) 1,368 Commercial mortgage securitizations 184,959 6,323 712 203 (26 ) 7,212 Collateralized debt obligations: Debt securities 3,247 — — 64 (57 ) 7 Loans (3) 3,314 3,207 — — — 3,207 Asset-based finance structures 13,063 8,956 — (66 ) — 8,890 Tax credit structures 26,099 9,094 — — (3,047 ) 6,047 Collateralized loan obligations 898 213 — — — 213 Investment funds 1,131 47 — — — 47 Other (4) 12,690 511 — (44 ) — 467 Total $ 1,469,435 32,037 12,518 157 (3,517 ) 41,195 Maximum exposure to loss Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Total exposure Residential mortgage loan securitizations: Conforming $ 2,458 11,665 — 1,452 15,575 Other/nonconforming 1,228 141 — 1 1,370 Commercial mortgage securitizations 6,323 712 203 7,152 14,390 Collateralized debt obligations: Debt securities — — 64 57 121 Loans (3) 3,207 — — — 3,207 Asset-based finance structures 8,956 — 76 444 9,476 Tax credit structures 9,094 — — 866 9,960 Collateralized loan obligations 213 — — — 213 Investment funds 47 — — — 47 Other (4) 511 — 117 150 778 Total $ 32,037 12,518 460 10,122 55,137 (1) Includes total equity interests of $9.5 billion and $8.9 billion at June 30, 2016 , and December 31, 2015 , 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 $1.0 billion and $1.3 billion at June 30, 2016 , and December 31, 2015 , respectively, for certain delinquent loans that are eligible for repurchase 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 predominantly in senior tranches from a diversified pool of U.S. asset securitizations, of which all are current and 100% and 70% were rated as investment grade by the primary rating agencies at June 30, 2016 , and December 31, 2015 , 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 Table 7.2 , “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 2015 Form 10-K. INVESTMENT FUNDS In first quarter 2016, we adopted ASU 2015-02 ( Amendments to the Consolidation Analysis ) which changed the consolidation analysis for certain investment funds. We do not consolidate these investment funds because we do not hold variable interests that are considered significant to the funds. We voluntarily waived a portion of our management fees for certain money market funds that are exempt from the consolidation analysis to ensure the funds maintained a minimum level of daily net investment income. The amount of fees waived in the second quarter and first half of 2016 was $26 million and $56 million , respectively, compared with $53 million and $109 million , respectively, in the same periods of 2015 . OTHER TRANSACTIONS WITH VIEs Other VIEs include certain entities that issue auction rate securities (ARS) which are debt instruments with long-term maturities, that re-price more frequently, and preferred equities with no maturity. At June 30, 2016 , we held $465 million of ARS issued by VIEs compared with $502 million at December 31, 2015 . 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 June 30, 2016 , and December 31, 2015 , we reported the debt securities issued to the VIEs as long-term junior subordinated debt with a carrying value of $2.3 billion and $2.2 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. Table 7.3 presents the cash flows for our transfers accounted for as sales. Table 7.3: Cash Flows From Sales and Securitization Activity 2016 2015 (in millions) Mortgage loans Other financial assets Mortgage loans Other financial assets Quarter ended June 30, Proceeds from securitizations and whole loan sales $ 66,455 83 58,984 160 Fees from servicing rights retained 864 — 923 2 Cash flows from other interests held (1) 627 — 348 11 Repurchases of assets/loss reimbursements (2): Non-agency securitizations and whole loan transactions 15 — 1 — Agency securitizations (3) 35 — 76 — Servicing advances, net of repayments (39 ) — (154 ) — Six months ended June 30, Proceeds from securitizations and whole loan sales $ 111,471 133 100,893 181 Fees from servicing rights retained 1,745 — 1,858 4 Cash flows from other interests held (1) 1,034 1 614 23 Repurchases of assets/loss reimbursements (2): Non-agency securitizations and whole loan transactions 18 — 7 — Agency securitizations (3) 82 — 138 — Servicing advances, net of repayments (107 ) — (254 ) — (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. (3) Represent loans repurchased from GNMA, FNMA, and FHLMC under representation and warranty provisions included in our loan sales contracts. Second quarter and first half of 2016 exclude $2.0 billion and $ 4.9 billion respectively, in delinquent insured/guaranteed loans that we service and have exercised our option to purchase out of GNMA pools, compared with $2.7 billion and $ 6.0 billion , respectively, in the same periods of 2015 . These loans are predominantly insured by the FHA or guaranteed by the VA. In the second quarter and first half of 2016 , we recognized net gains of $100 million and $295 million , respectively, from transfers accounted for as sales of financial assets, compared with $205 million and $316 million , respectively, in the same periods of 2015 . These net gains largely 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 second quarter and first half of 2016 and 2015 largely 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 second quarter and first half of 2016 , we transferred $65.0 billion and $102.3 billion , respectively, in fair value of residential mortgages to unconsolidated VIEs and third-party investors and recorded the transfers as sales, compared with $53.4 billion and $92.9 billion , respectively, in the same periods of 2015 . 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 half of 2016 , we recorded a $764 million servicing asset, measured at fair value using a Level 3 measurement technique, securities of $3.2 billion , classified as Level 2, and a $15 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 half of 2015 , we recorded a $736 million servicing asset, securities of $800 million , and a $23 million liability. Table 7.4 presents the key weighted-average assumptions we used to measure residential mortgage servicing rights at the date of securitization. Table 7.4: Residential Mortgage Servicing Rights Residential mortgage servicing rights 2016 2015 Quarter ended June 30, Prepayment speed (1) 12.1 % 11.9 Discount rate 6.7 7.6 Cost to service ($ per loan) (2) $ 141 237 Six months ended June 30, Prepayment speed (1) 12.5 % 12.4 Discount rate 6.8 7.6 Cost to service ($ per loan) (2) $ 143 237 (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 second quarter and first half of 2016 , we transferred $1.8 billion and $9.9 billion , respectively, in carrying value of commercial mortgages to unconsolidated VIEs and third-party investors and recorded the transfers as sales, compared with $6.3 billion and $9.5 billion in the same periods of 2015 , respectively. These transfers resulted in gains of $58 million and $193 million in the second quarter and first half of 2016 , respectively, because the loans were carried at lower of cost of market value (LOCOM), compared with gains of $123 million and $200 million in the second quarter and first half of 2015 , respectively. In connection with these transfers, in the first half of 2016, we recorded a servicing asset of $135 million , initially measured at fair value using a Level 3 measurement technique, and securities of $86 million , classified as Level 2. In the first half of 2015, we recorded a servicing asset of $97 million and securities of $179 million . Retained Interests from Unconsolidated VIEs Table 7.5 provides key economic assumptions and the sensitivity of the current fair value of residential mortgage servicing rights and other interests held to immediate adverse changes in those assumptions. “Other interests held” relate to residential and commercial mortgage loan securitizations. Residential mortgage-backed securities retained in securitizations issued through GSEs, such as FNMA, FHLMC and GNMA, are excluded from the table because these securities have a remote risk of credit loss due to the GSE guarantee. These securities also have economic characteristics similar to GSE mortgage-backed securities that we purchase, which are not included in the table. Subordinated interests include only those bonds whose credit rating was below AAA by a major rating agency at issuance. Senior interests include only those bonds whose credit rating was AAA by a major rating agency at issuance. The information presented excludes trading positions held in inventory. Table 7.5: Retained Interests from Unconsolidated VIEs Other interests held Residential mortgage servicing rights (1) Interest-only strips Consumer Commercial (2) ($ in millions, except cost to service amounts) Subordinated bonds Subordinated bonds Senior bonds Fair value of interests held at June 30, 2016 $ 10,396 33 1 303 698 Expected weighted-average life (in years) 5.2 3.6 9.1 1.2 5.9 Key economic assumptions: Prepayment speed assumption (3) 13.6 % 19.1 15.0 Decrease in fair value from: 10% adverse change $ 595 1 — 25% adverse change 1,401 3 — Discount rate assumption 6.2 % 13.1 9.8 7.0 2.5 Decrease in fair value from: 100 basis point increase $ 490 1 — 4 35 200 basis point increase 938 1 — 7 68 Cost to service assumption ($ per loan) 162 Decrease in fair value from: 10% adverse change 515 25% adverse change 1,289 Credit loss assumption 2.6 % 2.9 — Decrease in fair value from: 10% higher losses $ — 2 — 25% higher losses — 5 — Fair value of interests held at December 31, 2015 $ 12,415 34 1 342 673 Expected weighted-average life (in years) 6.0 3.6 11.6 1.9 5.8 Key economic assumptions: Prepayment speed assumption (3) 11.4 % 19.0 15.1 Decrease in fair value from: 10% adverse change $ 616 1 — 25% adverse change 1,463 3 — Discount rate assumption 7.3 % 13.8 10.5 5.3 3.0 Decrease in fair value from: 100 basis point increase $ 605 1 — 6 33 200 basis point increase 1,154 1 — 11 63 Cost to service assumption ($ per loan) 168 Decrease in fair value from: 10% adverse change 567 25% adverse change 1,417 Credit loss assumption 1.1 % 2.8 — Decrease in fair value from: 10% higher losses $ — — — 25% higher losses — 2 — (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 and $1.7 billion at June 30, 2016 , and December 31, 2015 , respectively. 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 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 June 30, 2016 , and December 31, 2015 , results in a decrease in fair value of $127 million and $150 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 June 30, 2016 , and December 31, 2015 . The carrying amount of the loan at June 30, 2016 , and December 31, 2015 , was $4.5 billion and $4.9 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 $75 million and $82 million at June 30, 2016 , and December 31, 2015 , 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 Table 7.6 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 (including 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. Table 7.6: Off-Balance Sheet Loans Sold or Securitized Net charge-offs Total loans Delinquent loans and foreclosed assets (1) Six months ended June 30, (in millions) Jun 30, 2016 Dec 31, 2015 Jun 30, 2016 Dec 31, 2015 2016 2015 Commercial: Real estate mortgage $ 110,135 110,815 2,622 6,670 156 196 Total commercial 110,135 110,815 2,622 6,670 156 196 Consumer: Real estate 1-4 family first mortgage 1,192,910 1,235,662 18,294 20,904 534 428 Total consumer 1,192,910 1,235,662 18,294 20,904 534 428 Total off-balance sheet sold or securitized loans (2) $ 1,303,045 1,346,477 20,916 27,574 690 624 (1) Includes $1.9 billion and $5.0 billion of commercial foreclosed assets and $2.1 billion and $2.2 billion of consumer foreclosed assets at June 30, 2016 , and December 31, 2015 , respectively. (2) At June 30, 2016 , and December 31, 2015 , the table includes total loans of $1.2 trillion at both dates, delinquent loans of $10.7 billion and $12.1 billion , and foreclosed assets of $1.5 billion and $1.7 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 Table 7.7 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. Table 7.7: Transactions with Consolidated VIEs and Secured Borrowings Carrying value (in millions) Total VIE assets Assets Liabilities Noncontrolling interests Net assets June 30, 2016 Secured borrowings: Municipal tender option bond securitizations $ 1,846 1,403 (1,200 ) — 203 Residential mortgage securitizations 4,264 4,400 (4,352 ) — 48 Total secured borrowings 6,110 5,803 (5,552 ) — 251 Consolidated VIEs: Commercial and industrial loans and leases 8,841 8,841 (2,985 ) (12 ) 5,844 Nonconforming residential mortgage loan securitizations 3,723 3,318 (1,122 ) — 2,196 Commercial real estate loans 1,207 1,207 — — 1,207 Structured asset finance 29 16 (12 ) — 4 Investment funds 492 492 (8 ) (67 ) 417 Other 165 152 (1 ) (70 ) 81 Total consolidated VIEs 14,457 14,026 (4,128 ) (149 ) 9,749 Total secured borrowings and consolidated VIEs $ 20,567 19,829 (9,680 ) (149 ) 10,000 December 31, 2015 Secured borrowings: Municipal tender option bond securitizations $ 2,818 2,400 (1,800 ) — 600 Residential mortgage securitizations 4,738 4,887 (4,844 ) — 43 Total secured borrowings 7,556 7,287 (6,644 ) — 643 Consolidated VIEs: Nonconforming residential mortgage loan securitizations 4,134 3,654 (1,239 ) — 2,415 Commercial real estate loans 1,185 1,185 — — 1,185 Structured asset finance 54 20 (18 ) — 2 Investment funds 482 482 — — 482 Other 305 295 (101 ) (93 ) 101 Total consolidated VIEs 6,160 5,636 (1,358 ) (93 ) 4,185 Total secured borrowings and consolidated VIEs $ 13,716 12,923 (8,002 ) (93 ) 4,828 COMMERCIAL AND INDUSTRIAL LOANS AND LEASES In conjunction with the GE Capital transactions, on March 1, 2016, we acquired certain consolidated SPE entities. The most significant of these SPEs is a revolving master trust entity that purchases dealer floorplan loans and issues senior and subordinated notes. The senior notes are held by third parties and the subordinated notes and residual equity interests are held by us. At June 30, 2016 , total assets held by the master trust were $7.2 billion and the outstanding senior notes were $2.7 billion . The other SPEs acquired include securitization term trust entities, which purchase vendor finance lease and loan assets and issue notes to investors, and a SPE that engages in leasing activities to specific vendors. At June 30, 2016 , total assets held by these SPEs were $1.5 billion , with outstanding debt of $239 million . We are the primary beneficiary of these acquired SPEs due to our ability to direct the significant activities of the SPEs, such as our role as servicer, and because we hold variable interests that are considered significant. INVESTMENT FUNDS Our adoption of ASU 2015-02 ( Amendments to the Consolidation Analysis ) |
Mortgage Banking Activities
Mortgage Banking Activities | 6 Months Ended |
Jun. 30, 2016 | |
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. Table 8.1 presents the changes in MSRs measured using the fair value method. Table 8.1: Analysis of Changes in Fair Value MSRs Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Fair value, beginning of period $ 11,333 11,739 12,415 12,738 Servicing from securitizations or asset transfers (1) 477 428 843 736 Sales and other (2) (22 ) (5 ) (22 ) (6 ) Net additions 455 423 821 730 Changes in fair value: Due to changes in valuation model inputs or assumptions: Mortgage interest rates (3) (779 ) 1,117 (1,863 ) 545 Servicing and foreclosure costs (4) (4 ) (10 ) 23 (28 ) Prepayment estimates and other (5) (41 ) (54 ) 59 (237 ) Net changes in valuation model inputs or assumptions (824 ) 1,053 (1,781 ) 280 Other changes in fair value (6) (568 ) (554 ) (1,059 ) (1,087 ) Total changes in fair value (1,392 ) 499 (2,840 ) (807 ) Fair value, end of period $ 10,396 12,661 10,396 12,661 (1) Includes impacts associated with exercising our right to repurchase delinquent loans from GNMA loan securitization pools. (2) Includes sales and transfers of MSRs. (3) 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). (4) Includes costs to service and unreimbursed foreclosure costs. (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. Table 8.2 presents the changes in amortized MSRs. Table 8.2: Analysis of Changes in Amortized MSRs Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Balance, beginning of period $ 1,359 1,252 1,308 1,242 Purchases 24 29 45 51 Servicing from securitizations or asset transfers 38 46 135 96 Amortization (68 ) (65 ) (135 ) (127 ) Balance, end of period (1) $ 1,353 1,262 1,353 1,262 Fair value of amortized MSRs: Beginning of period $ 1,725 1,522 1,680 1,637 End of period 1,620 1,692 1,620 1,692 (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 Table 8.3 at unpaid principal balance for loans serviced and subserviced for others and at book value for owned loans serviced. Table 8.3: Managed Servicing Portfolio (in billions) Jun 30, 2016 Dec 31, 2015 Residential mortgage servicing: Serviced for others $ 1,250 1,300 Owned loans serviced 349 345 Subserviced for others 4 4 Total residential servicing 1,603 1,649 Commercial mortgage servicing: Serviced for others 478 478 Owned loans serviced 128 122 Subserviced for others 8 7 Total commercial servicing 614 607 Total managed servicing portfolio $ 2,217 2,256 Total serviced for others $ 1,728 1,778 Ratio of MSRs to related loans serviced for others 0.68 % 0.77 Table 8.4 presents the components of mortgage banking noninterest income. Table 8.4: Mortgage Banking Noninterest Income Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Servicing income, net: Servicing fees: Contractually specified servicing fees $ 949 1,008 1,903 2,028 Late charges 42 46 90 99 Ancillary fees 54 81 115 152 Unreimbursed direct servicing costs (1) (203 ) (109 ) (356 ) (243 ) Net servicing fees 842 1,026 1,752 2,036 Changes in fair value of MSRs carried at fair value: Due to changes in valuation model inputs or assumptions (2) (A) (824 ) 1,053 (1,781 ) 280 Other changes in fair value (3) (568 ) (554 ) (1,059 ) (1,087 ) Total changes in fair value of MSRs carried at fair value (1,392 ) 499 (2,840 ) (807 ) Amortization (68 ) (65 ) (135 ) (127 ) Net derivative gains from economic hedges (4) (B) 978 (946 ) 2,433 (65 ) Total servicing income, net 360 514 1,210 1,037 Net gains on mortgage loan origination/sales activities 1,054 1,191 1,802 2,215 Total mortgage banking noninterest income $ 1,414 1,705 3,012 3,252 Market-related valuation changes to MSRs, net of hedge results (2)(4) (A)+(B) $ 154 107 652 215 (1) Includes costs associated with foreclosures, unreimbursed interest advances to investors, and other interest costs. (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. Table 8.5 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 exceeded our recorded liability by $179 million at June 30, 2016 , 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. Table 8.5: Analysis of Changes in Liability for Mortgage Loan Repurchase Losses Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Balance, beginning of period $ 355 586 378 615 Provision for repurchase losses: Loan sales 8 13 15 23 Change in estimate (1) (89 ) (31 ) (108 ) (57 ) Net reductions (81 ) (18 ) (93 ) (34 ) Losses (19 ) (11 ) (30 ) (24 ) Balance, end of period $ 255 557 255 557 (1) Results from changes in investor demand and mortgage insurer practices, credit deterioration and changes in the financial stability of correspondent lenders. |
Intangible Assets
Intangible Assets | 6 Months Ended |
Jun. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | Note 9: Intangible Assets Table 9.1 presents the gross carrying value of intangible assets and accumulated amortization. Table 9.1: Intangible Assets June 30, 2016 December 31, 2015 (in millions) Gross carrying value Accumulated amortization Net carrying value Gross carrying value Accumulated amortization Net carrying value Amortized intangible assets (1): MSRs (2) $ 3,408 (2,055 ) 1,353 3,228 (1,920 ) 1,308 Core deposit intangibles 12,834 (10,755 ) 2,079 12,834 (10,295 ) 2,539 Customer relationship and other intangibles 3,953 (2,690 ) 1,263 3,163 (2,549 ) 614 Total amortized intangible assets $ 20,195 (15,500 ) 4,695 19,225 (14,764 ) 4,461 Unamortized intangible assets: MSRs (carried at fair value) (2) $ 10,396 12,415 Goodwill 26,963 25,529 Trademark 14 14 (1) Excludes fully amortized intangible assets. (2) See Note 8 (Mortgage Banking Activities) for additional information on MSRs. Table 9.2 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 June 30, 2016 . Future amortization expense may vary from these projections. Table 9.2: Amortization Expense for Intangible Assets (in millions) Amortized MSRs Core deposit intangibles Customer relationship and other intangibles Total Six months ended June 30, 2016 (actual) $ 135 460 141 736 Estimate for the remainder of 2016 $ 133 459 151 743 Estimate for year ended December 31, 2017 228 851 309 1,388 2018 190 769 305 1,264 2019 168 — 112 280 2020 153 — 93 246 2021 129 — 75 204 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. Table 9.3 shows the allocation of goodwill to our reportable operating segments for purposes of goodwill impairment testing. Table 9.3: Goodwill (in millions) Community Banking Wholesale Banking Wealth and Investment Management Consolidated Company December 31, 2014 and June 30, 2015 $ 16,870 7,633 1,202 25,705 December 31, 2015 $ 16,849 7,475 1,205 25,529 Reduction in goodwill related to divested businesses and other — (84 ) — (84 ) Goodwill from business combinations — 1,518 — 1,518 June 30, 2016 $ 16,849 8,909 1,205 26,963 |
Guarantees, Pledged Assets and
Guarantees, Pledged Assets and Collateral | 6 Months Ended |
Jun. 30, 2016 | |
Guarantees [Abstract] | |
Guarantees, Pledged Assets and Collateral | 90 days Total gross obligation June 30, 2016 Repurchase agreements $ 83,097 15,454 7,023 1,891 107,465 Securities lending 11,718 220 1,873 — 13,811 Total repurchases and securities lending (1) $ 94,815 15,674 8,896 1,891 121,276 December 31, 2015 Repurchase agreements $ 58,021 19,561 2,935 1,025 81,542 Securities lending 7,845 362 1,529 — 9,736 Total repurchases and securities lending (1) $ 65,866 19,923 4,464 1,025 91,278 (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 2015 Form 10-K. Table 10.1 shows carrying value, maximum exposure to loss on our guarantees and the related non-investment grade amounts. Table 10.1: Guarantees – Carrying Value and Maximum Exposure to Loss 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 June 30, 2016 Standby letters of credit (1) $ 40 16,261 10,407 3,731 798 31,197 10,374 Securities lending and other indemnifications (2) — — — — 1,770 1,770 — Written put options (3) 234 8,919 7,348 4,314 1,563 22,144 11,506 Loans and MHFS sold with recourse (4) 64 115 709 739 7,842 9,405 6,382 Factoring guarantees (5) — 740 — — — 740 740 Other guarantees 9 31 21 18 2,818 2,888 28 Total guarantees $ 347 26,066 18,485 8,802 14,791 68,144 29,030 December 31, 2015 Standby letters of credit (1) $ 38 16,360 9,618 4,116 642 30,736 8,981 Securities lending and other indemnifications (2) — — — — 1,841 1,841 — Written put options (3) 371 7,387 6,463 4,505 1,440 19,795 9,583 Loans and MHFS sold with recourse (4) 62 112 723 690 6,434 7,959 4,864 Factoring guarantees (5) — 1,598 — — — 1,598 1,598 Other guarantees 28 62 17 17 2,482 2,578 53 Total guarantees $ 499 25,519 16,821 9,328 12,839 64,507 25,079 (1) Total maximum exposure to loss includes direct pay letters of credit (DPLCs) of $11.2 billion and $11.8 billion at June 30, 2016 , and December 31, 2015 , 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 indemnifications provided to certain third-party clearing agents. Outstanding customer obligations under these arrangements were $181 million and $352 million with related collateral of $1.6 billion and $1.5 billion at June 30, 2016 , and December 31, 2015 , respectively. Estimated maximum exposure to loss was $1.8 billion at both June 30, 2016 and December 31, 2015. (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 $1 million and $2 million respectively, of loans associated with these agreements in the second quarter and first half of 2016 , and $2 million and $3 million in the same periods of 2015 , 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 Table 10.1 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), securities lending arrangements, 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. Table 10.2 provides the total carrying amount of pledged assets by asset type. The table excludes pledged consolidated VIE assets of $14.0 billion and $5.6 billion at June 30, 2016 , and December 31, 2015 , respectively, which can only be used to settle the liabilities of those entities. The table also excludes $5.8 billion and $7.3 billion in assets pledged in transactions accounted for as secured borrowings at June 30, 2016 , and December 31, 2015 , respectively. See Note 7 (Securitizations and Variable Interest Entities) for additional information on consolidated VIE assets and secured borrowings. Table 10.2: Pledged Assets (in millions) Jun 30, Dec 31, Trading assets and other (1) $ 104,793 73,396 Investment securities (2) 95,354 113,912 Mortgages held for sale and Loans (3) 497,364 453,058 Total pledged assets $ 697,511 640,366 (1) Represent assets pledged to collateralize repurchase agreements and other securities financings. Balance includes $104.3 billion and $73.0 billion at June 30, 2016 , and December 31, 2015 , respectively, under agreements that permit the secured parties to sell or repledge the collateral. (2) Includes carrying value of $5.8 billion and $6.5 billion (fair value of $5.9 billion and $ 6.5 billion ) in collateral for repurchase agreements at June 30, 2016 , and December 31, 2015 , respectively, which are pledged under agreements that do not permit the secured parties to sell or repledge the collateral. Also includes $12.8 billion and $13.0 billion in collateral pledged under repurchase agreements at June 30, 2016 , and December 31, 2015 , 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 $14.4 billion and $8.7 billion at June 30, 2016 , and December 31, 2015 , 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 $1.0 billion and $1.3 billion at June 30, 2016 , and December 31, 2015 , respectively, of pledged loans recorded on our balance sheet representing certain delinquent loans that are eligible for repurchase 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”) typically to finance trading positions (including securities and derivatives), 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. Most 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 Table 10.3 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 Table 10.3 , we also have balance sheet netting related to derivatives that is disclosed in Note 12 (Derivatives). Table 10.3: Offsetting – Resale and Repurchase Agreements (in millions) Jun 30, Dec 31, Assets: Resale and securities borrowing agreements Gross amounts recognized $ 95,437 74,935 Gross amounts offset in consolidated balance sheet (1) (17,150 ) (9,158 ) Net amounts in consolidated balance sheet (2) 78,287 65,777 Collateral not recognized in consolidated balance sheet (3) (77,683 ) (65,035 ) Net amount (4) $ 604 742 Liabilities: Repurchase and securities lending agreements Gross amounts recognized (5) $ 121,276 91,278 Gross amounts offset in consolidated balance sheet (1) (17,150 ) (9,158 ) Net amounts in consolidated balance sheet (6) 104,126 82,120 Collateral pledged but not netted in consolidated balance sheet (7) (103,791 ) (81,772 ) Net amount (8) $ 335 348 (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 June 30, 2016 , and December 31, 2015 , includes $54.5 billion and $45.7 billion , respectively, classified on our consolidated balance sheet in federal funds sold, securities purchased under resale agreements and other short-term investments and $23.8 billion and $20.1 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 June 30, 2016 , and December 31, 2015 , we have received total collateral with a fair value of $107.6 billion and $84.9 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 $67.9 billion at June 30, 2016 , and $51.1 billion at December 31, 2015 . (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 June 30, 2016 , and December 31, 2015 , we have pledged total collateral with a fair value of $123.4 billion and $92.9 billion , respectively, of which, the counterparty does not have the right to sell or repledge $6.3 billion as of June 30, 2016 and $6.9 billion as of December 31, 2015 . (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 most 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. Table 10.4 provides the underlying collateral types of our gross obligations under repurchase and securities lending agreements. Table 10.4: Underlying Collateral Types of Gross Obligations (in millions) Jun 30, Dec 31, Repurchase agreements: Securities of U.S. Treasury and federal agencies $ 52,177 32,254 Securities of U.S. States and political subdivisions 109 7 Federal agency mortgage-backed securities 43,001 37,033 Non-agency mortgage-backed securities 1,954 1,680 Corporate debt securities 5,298 4,674 Asset-backed securities 2,789 2,275 Equity securities 999 2,457 Other 1,138 1,162 Total repurchases 107,465 81,542 Securities lending: Securities of U.S. Treasury and federal agencies 80 61 Federal agency mortgage-backed securities 148 76 Non-agency mortgage-backed securities 1 — Corporate debt securities 924 899 Equity securities (1) 12,658 8,700 Total securities lending 13,811 9,736 Total repurchases and securities lending $ 121,276 91,278 (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. Table 10.5 provides the contractual maturities of our gross obligations under repurchase and securities lending agreements. Table 10.5: Contractual Maturities of Gross Obligations (in millions) Overnight/continuous Up to 30 days 30-90 days >90 days Total gross obligation June 30, 2016 Repurchase agreements $ 83,097 15,454 7,023 1,891 107,465 Securities lending 11,718 220 1,873 — 13,811 Total repurchases and securities lending (1) $ 94,815 15,674 8,896 1,891 121,276 December 31, 2015 Repurchase agreements $ 58,021 19,561 2,935 1,025 81,542 Securities lending 7,845 362 1,529 — 9,736 Total repurchases and securities lending (1) $ 65,866 19,923 4,464 1,025 91,278 (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 | 6 Months Ended |
Jun. 30, 2016 | |
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 2015 Form 10-K and Note 11 (Legal Actions) to Financial Statements in our 2016 first quarter Quarterly Report on Form 10-Q for events occurring during second quarter 2016 . 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 and certain rules 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 totaled 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 was appealed to the Second Circuit Court of Appeals by settlement objector merchants. Other merchants opted out of the settlement and are pursuing several individual actions. On June 30, 2016, the Second Circuit Court of Appeals vacated the settlement agreement and reversed and remanded the consolidated action to the U.S. District Court for the Eastern District of New York for further proceedings. 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 $1.0 billion as of June 30, 2016 . 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 | 6 Months Ended |
Jun. 30, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives | Note 12: Derivatives We 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 2015 Form 10-K. Table 12.1 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. Table 12.1: Notional or Contractual Amounts and Fair Values of Derivatives June 30, 2016 December 31, 2015 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) $ 225,772 14,893 4,456 191,684 7,477 2,253 Foreign exchange contracts (1) 26,670 1,000 1,658 25,115 378 2,494 Total derivatives designated as qualifying hedging instruments 15,893 6,114 7,855 4,747 Derivatives not designated as hedging instruments Economic hedges: Interest rate contracts (2) 243,492 1,134 1,006 211,375 195 315 Equity contracts 7,600 808 49 7,427 531 47 Foreign exchange contracts 15,945 455 231 16,407 321 100 Credit contracts – protection purchased 184 78 — — — — Subtotal 2,475 1,286 1,047 462 Customer accommodation, trading and other derivatives: Interest rate contracts 5,655,493 105,333 105,358 4,685,898 55,053 55,409 Commodity contracts 54,628 2,920 3,282 47,571 4,659 5,519 Equity contracts 161,398 6,542 5,445 139,956 7,068 4,761 Foreign exchange contracts 331,009 9,520 9,565 295,962 8,248 8,339 Credit contracts – protection sold 9,917 60 467 10,544 83 541 Credit contracts – protection purchased 20,765 455 97 18,018 567 88 Other contracts 983 — 88 1,041 — 58 Subtotal 124,830 124,302 75,678 74,715 Total derivatives not designated as hedging instruments 127,305 125,588 76,725 75,177 Total derivatives before netting 143,198 131,702 84,580 79,924 Netting (3) (122,199 ) (116,219 ) (66,924 ) (66,004 ) Total $ 20,999 15,483 17,656 13,920 (1) Notional amounts presented exclude $ 1.9 billion of interest rate contracts at both June 30, 2016 and December 31, 2015 , for certain derivatives that are combined for designation as a hedge on a single instrument. The notional amount for foreign exchange contracts at June 30, 2016 , and December 31, 2015 excludes $7.9 billion and $7.8 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 Table 12.2 for further information. Table 12.2 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 substantially all 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 $126.8 billion and $124.0 billion of gross derivative assets and liabilities, respectively, at June 30, 2016 , and $69.9 billion and $74.0 billion , respectively, at December 31, 2015 , 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 $16.4 billion and $7.7 billion , respectively, at June 30, 2016 and $14.6 billion and $5.9 billion , respectively, at December 31, 2015 , 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 Table 12.2 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). Table 12.2: Gross Fair Value of Derivative Assets and Liabilities (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) June 30, 2016 Derivative assets Interest rate contracts $ 121,360 (110,736 ) 10,624 (1,266 ) 9,358 27 % Commodity contracts 2,920 (905 ) 2,015 (92 ) 1,923 61 Equity contracts 7,350 (2,468 ) 4,882 (469 ) 4,413 54 Foreign exchange contracts 10,975 (7,647 ) 3,328 (43 ) 3,285 95 Credit contracts – protection sold 60 (53 ) 7 — 7 81 Credit contracts – protection purchased 533 (390 ) 143 (5 ) 138 99 Total derivative assets $ 143,198 (122,199 ) 20,999 (1,875 ) 19,124 Derivative liabilities Interest rate contracts $ 110,820 (103,357 ) 7,463 (4,897 ) 2,566 24 % Commodity contracts 3,282 (781 ) 2,501 (46 ) 2,455 68 Equity contracts 5,494 (2,219 ) 3,275 (294 ) 2,981 82 Foreign exchange contracts 11,454 (9,440 ) 2,014 (698 ) 1,316 100 Credit contracts – protection sold 467 (373 ) 94 (75 ) 19 99 Credit contracts – protection purchased 97 (49 ) 48 (5 ) 43 48 Other contracts 88 — 88 — 88 100 Total derivative liabilities $ 131,702 (116,219 ) 15,483 (6,015 ) 9,468 December 31, 2015 Derivative assets Interest rate contracts $ 62,725 (56,612 ) 6,113 (749 ) 5,364 39 % Commodity contracts 4,659 (998 ) 3,661 (76 ) 3,585 35 Equity contracts 7,599 (2,625 ) 4,974 (471 ) 4,503 51 Foreign exchange contracts 8,947 (6,141 ) 2,806 (34 ) 2,772 98 Credit contracts – protection sold 83 (79 ) 4 — 4 76 Credit contracts – protection purchased 567 (469 ) 98 (2 ) 96 100 Total derivative assets $ 84,580 (66,924 ) 17,656 (1,332 ) 16,324 Derivative liabilities Interest rate contracts $ 57,977 (53,259 ) 4,718 (3,543 ) 1,175 35 % Commodity contracts 5,519 (1,052 ) 4,467 (40 ) 4,427 84 Equity contracts 4,808 (2,241 ) 2,567 (154 ) 2,413 85 Foreign exchange contracts 10,933 (8,968 ) 1,965 (634 ) 1,331 100 Credit contracts – protection sold 541 (434 ) 107 (107 ) — 100 Credit contracts – protection purchased 88 (50 ) 38 (6 ) 32 70 Other contracts 58 — 58 — 58 100 Total derivative liabilities $ 79,924 (66,004 ) 13,920 (4,484 ) 9,436 (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 $452 million and $375 million related to derivative assets and $104 million and $81 million related to derivative liabilities at June 30, 2016 and December 31, 2015 , respectively. Cash collateral totaled $10.4 billion and $4.8 billion , netted against derivative assets and liabilities, respectively, at June 30, 2016 , and $5.3 billion and $4.7 billion , respectively, at December 31, 2015 . (2) Net derivative assets of $8.5 billion and $12.4 billion are classified in Trading assets at June 30, 2016 and December 31, 2015 , respectively. $12.5 billion and $5.3 billion are classified in Other assets in the consolidated balance sheet at June 30, 2016 and December 31, 2015 , 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 2015 Form 10-K. Table 12.3 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. Table 12.3: Derivatives in Fair Value Hedging Relationships 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 June 30, 2016 Net interest income (expense) recognized on derivatives $ (170 ) (2 ) 483 2 15 328 Gains (losses) recorded in noninterest income Recognized on derivatives (1,012 ) (5 ) 1,983 134 (455 ) 645 Recognized on hedged item 1,018 6 (1,762 ) (133 ) 394 (477 ) Net recognized on fair value hedges (ineffective portion) (1) $ 6 1 221 1 (61 ) 168 Quarter ended June 30, 2015 Net interest income (expense) recognized on derivatives $ (200 ) (4 ) 479 (1 ) 56 330 Gains (losses) recorded in noninterest income Recognized on derivatives 1,352 19 (2,305 ) (116 ) 264 (786 ) Recognized on hedged item (1,357 ) (21 ) 2,068 111 (302 ) 499 Net recognized on fair value hedges (ineffective portion) (1) $ (5 ) (2 ) (237 ) (5 ) (38 ) (287 ) Six months ended June 30, 2016 Net interest income (expense) recognized on derivatives $ (351 ) (4 ) 965 2 31 643 Gains (losses) recorded in noninterest income Recognized on derivatives (2,695 ) (42 ) 5,086 68 1,163 3,580 Recognized on hedged item 2,709 39 (4,569 ) (74 ) (1,008 ) (2,903 ) Net recognized on fair value hedges (ineffective portion) (1) $ 14 (3 ) 517 (6 ) 155 677 Six months ended June 30, 2015 Net interest income (expense) recognized on derivatives $ (386 ) (7 ) 951 — 117 675 Gains (losses) recorded in noninterest income Recognized on derivatives 686 6 (1,047 ) 164 (1,623 ) (1,814 ) Recognized on hedged item (696 ) (11 ) 918 (158 ) 1,647 1,700 Net recognized on fair value hedges (ineffective portion) (1) $ (10 ) (5 ) (129 ) 6 24 (114 ) (1) The second quarter and first half of 2016 included $(3) million and $(7) million , respectively, and the second quarter and first half of 2015 included $(2) million and $(3) million , respectively, 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 2015 Form 10-K. Based upon current interest rates, we estimate that $1.1 billion (pre tax) of deferred net gains on derivatives in OCI at June 30, 2016 , 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 . Table 12.4 shows the net gains (losses) recognized related to derivatives in cash flow hedging relationships. Table 12.4: Derivatives in Cash Flow Hedging Relationships Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Gains (losses) (pre tax) recognized in OCI on derivatives $ 1,057 (488 ) 3,056 464 Gains (pre tax) reclassified from cumulative OCI into net income (1) 265 268 521 502 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 (losses) of $978 million and $2.4 billion in the second quarter and first half of 2016 , respectively and $(946) million and $(65) million in the second quarter and first half of 2015 , respectively, which are included in mortgage banking noninterest income. The aggregate fair value of these derivatives was a net asset of $894 million at June 30, 2016 , and net liability of $3 million at December 31, 2015 . 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 $285 million and $56 million at June 30, 2016 , and December 31, 2015 , respectively, and is included in the caption “Interest rate contracts” under “Customer accommodation, trading and other derivatives” in Table 12.1 in this Note. For more information on economic hedges and other derivatives, see Note 16 (Derivatives) to Financial Statements in our 2015 Form 10-K. Table 12.5 shows the net gains recognized in the income statement related to derivatives not designated as hedging instruments. Table 12.5: Derivatives Not Designated as Hedging Instruments Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Net gains (losses) recognized on economic hedges derivatives: Interest rate contracts Recognized in noninterest income: Mortgage banking (1) $ 566 (383 ) 1,431 264 Other (2) (117 ) 114 (252 ) 50 Equity contracts (3) 205 25 288 5 Foreign exchange contracts (2) 495 (670 ) 329 (22 ) Subtotal 1,149 (914 ) 1,796 297 Net gains (losses) recognized on customer accommodation, trading and other derivatives: Interest rate contracts Recognized in noninterest income: Mortgage banking (4) 510 (23 ) 975 364 Other (5) (280 ) 489 (730 ) 396 Commodity contracts (5) 64 13 117 44 Equity contracts (5) (315 ) (139 ) (295 ) 50 Foreign exchange contracts (5) 276 215 498 325 Credit contracts (5) (25 ) 7 (41 ) (1 ) Other (2) (9 ) 15 (30 ) 7 Subtotal 221 577 494 1,185 Net gains recognized related to derivatives not designated as hedging instruments $ 1,370 (337 ) 2,290 1,482 (1) Reflected in 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) Included in other noninterest income. (3) Included in net gains (losses) from equity investments and other noninterest income. (4) Reflected in mortgage banking noninterest income including gains (losses) on interest rate lock commitments. (5) 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 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 sold 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. Table 12.6 provides details of sold and purchased credit derivatives. Table 12.6: 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 June 30, 2016 Credit default swaps on: Corporate bonds $ 25 4,561 1,681 3,376 1,185 2,089 2016 - 2025 Structured products 233 493 395 333 160 123 2020 - 2047 Credit protection on: Default swap index — 1,610 240 1,226 384 2,662 2016 - 2021 Commercial mortgage-backed securities index 187 614 — 569 45 53 2047 - 2058 Asset-backed securities index 20 46 — 41 5 189 2045 - 2046 Other 2 2,593 2,593 — 2,593 10,288 2016 - 2025 Total credit derivatives $ 467 9,917 4,909 5,545 4,372 15,404 December 31, 2015 Credit default swaps on: Corporate bonds $ 44 4,838 1,745 3,602 1,236 2,272 2016 - 2025 Structured products 275 598 463 395 203 142 2017 - 2047 Credit protection on: Default swap index — 1,727 370 1,717 10 960 2016 - 2020 Commercial mortgage-backed securities index 203 822 — 766 56 316 2047 - 2057 Asset-backed securities index 18 47 — 1 46 71 2045 - 2046 Other 1 2,512 2,512 — 2,512 7,776 2016 - 2025 Total credit derivatives $ 541 10,544 5,090 6,481 4,063 11,537 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 $14.5 billion at June 30, 2016 , and $12.3 billion at December 31, 2015 , for which we posted $10.8 billion and $8.8 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 June 30, 2016 , or December 31, 2015 , we would have been required to post additional collateral of $3.7 billion or $3.6 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 | 6 Months Ended |
Jun. 30, 2016 | |
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 Table 13.2 in this Note. From time to time, we may be required to record fair value adjustments on a nonrecurring basis. These nonrecurring fair value adjustments typically involve application of LOCOM accounting or write-downs of individual assets. Assets recorded on a nonrecurring basis are presented in Table 13.14 in this Note. See Note 1 (Summary of Significant Accounting Policies) to Financial Statements in our 2015 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 2015 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 that are 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. In accordance with new accounting guidance that we adopted effective January 1, 2016, we do not classify an investment in the fair value hierarchy if we use the non-published net asset value (NAV) per share (or its equivalent) that has been communicated to us as an investor as a practical expedient to measure fair value. We generally use NAV per share as the fair value measurement for certain nonmarketable equity fund investments. This guidance was required to be applied retrospectively. Accordingly, certain prior period fair value disclosures have been revised to conform with current period presentation. Marketable equity investments with published NAVs continue to be classified in the fair value hierarchy. 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 2015 Form 10-K. Table 13.1 . presents unadjusted fair value measurements provided by brokers or third-party pricing services by fair value hierarchy level. 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 excluded from Table 13.1 . Table 13.1: Fair Value Measurements by Brokers or Third-Party Pricing Services Brokers Third party pricing services (in millions) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 June 30, 2016 Trading assets (excluding derivatives) $ — — — — 55 — Available-for-sale securities: Securities of U.S. Treasury and federal agencies — — — 24,788 3,151 — Securities of U.S. states and political subdivisions — — — — 52,230 49 Mortgage-backed securities — 222 — — 115,117 95 Other debt securities (1) — 624 832 — 49,948 238 Total debt securities — 846 832 24,788 220,446 382 Total marketable equity securities — — — — 464 — Total available-for-sale securities — 846 832 24,788 220,910 382 Derivatives (trading and other assets) — — — — 210 — Derivatives (liabilities) — — — — (209 ) — Other liabilities (2) — — — — (1 ) — December 31, 2015 Trading assets (excluding derivatives) $ — — — — 5 — Available-for-sale securities: Securities of U.S. Treasury and federal agencies — — — 32,868 3,382 — Securities of U.S. states and political subdivisions — — — — 48,443 51 Mortgage-backed securities — 226 — — 126,525 73 Other debt securities (1) — 503 409 — 48,721 345 Total debt securities — 729 409 32,868 227,071 469 Total marketable equity securities — — — — 484 — Total available-for-sale securities — 729 409 32,868 227,555 469 Derivatives (trading and other assets) — — — — 224 — Derivatives (liabilities) — — — — (221 ) — Other liabilities (2) — — — — (1 ) — (1) Includes corporate debt securities, collateralized loan and other debt obligations, asset-backed securities, and other debt securities. (2) Includes short sale liabilities and other liabilities. Assets and Liabilities Recorded at Fair Value on a Recurring Basis Table 13.2 presents the balances of assets and liabilities recorded at fair value on a recurring basis. Table 13.2: Fair Value on a Recurring Basis (in millions) Level 1 Level 2 Level 3 Netting Total June 30, 2016 Trading assets (excluding derivatives) Securities of U.S. Treasury and federal agencies $ 17,551 4,439 — — 21,990 Securities of U.S. states and political subdivisions — 2,443 7 — 2,450 Collateralized loan obligations — 380 249 — 629 Corporate debt securities 25 8,361 36 — 8,422 Mortgage-backed securities — 20,690 — — 20,690 Asset-backed securities — 939 — — 939 Equity securities 14,626 196 — — 14,822 Total trading securities (1) 32,202 37,448 292 — 69,942 Other trading assets — 1,582 33 — 1,615 Total trading assets (excluding derivatives) 32,202 39,030 325 — 71,557 Securities of U.S. Treasury and federal agencies 24,788 3,151 — — 27,939 Securities of U.S. states and political subdivisions — 52,231 1,793 (2) — 54,024 Mortgage-backed securities: Federal agencies — 95,868 — — 95,868 Residential — 8,270 1 — 8,271 Commercial — 11,573 94 — 11,667 Total mortgage-backed securities — 115,711 95 — 115,806 Corporate debt securities 62 12,847 471 — 13,380 Collateralized loan and other debt obligations (3) — 33,330 951 (2) — 34,281 Asset-backed securities: Automobile loans and leases — 12 — — 12 Home equity loans — 387 — — 387 Other asset-backed securities — 4,750 1,117 (2) — 5,867 Total asset-backed securities — 5,149 1,117 — 6,266 Other debt securities — 8 — — 8 Total debt securities 24,850 222,427 4,427 — 251,704 Marketable equity securities: Perpetual preferred securities 270 464 — — 734 Other marketable equity securities 568 — — — 568 Total marketable equity securities 838 464 — — 1,302 Total available-for-sale securities 25,688 222,891 4,427 — 253,006 Mortgages held for sale — 19,157 1,084 — 20,241 Loans — — 5,032 — 5,032 Mortgage servicing rights (residential) — — 10,396 — 10,396 Derivative assets: Interest rate contracts 32 120,614 714 — 121,360 Commodity contracts — 2,892 28 — 2,920 Equity contracts 3,401 2,932 1,017 — 7,350 Foreign exchange contracts 48 10,927 — — 10,975 Credit contracts — 297 296 — 593 Netting — — — (122,199 ) (4) (122,199 ) Total derivative assets (5) 3,481 137,662 2,055 (122,199 ) 20,999 Other assets – excluding nonmarketable equity investments at NAV — 8 3,038 — 3,046 Total assets included in the fair value hierarchy $ 61,371 418,748 26,357 (122,199 ) 384,277 Other assets – nonmarketable equity investments at NAV (6) — Total assets recorded at fair value $ 384,277 Derivative liabilities: Interest rate contracts $ (44 ) (110,752 ) (24 ) — (110,820 ) Commodity contracts — (3,275 ) (7 ) — (3,282 ) Equity contracts (1,006 ) (3,219 ) (1,269 ) — (5,494 ) Foreign exchange contracts (50 ) (11,404 ) — — (11,454 ) Credit contracts — (329 ) (235 ) — (564 ) Other derivative contracts — — (88 ) — (88 ) Netting — — — 116,219 (4) 116,219 Total derivative liabilities (5) (1,100 ) (128,979 ) (1,623 ) 116,219 (15,483 ) Short sale liabilities: Securities of U.S. Treasury and federal agencies (9,340 ) (897 ) — — (10,237 ) Corporate debt securities — (4,777 ) — — (4,777 ) Equity securities (1,808 ) (30 ) — — (1,838 ) Other securities — (97 ) — — (97 ) Total short sale liabilities (11,148 ) (5,801 ) — — (16,949 ) Other liabilities (excluding derivatives) — — (5 ) — (5 ) Total liabilities recorded at fair value $ (12,248 ) (134,780 ) (1,628 ) 116,219 (32,437 ) (1) Net gains (losses) from trading activities recognized in the income statement for the first half of June 30, 2016 and 2015 include $1.1 billion and $(470) million in net unrealized gains (losses) on trading securities held at June 30, 2016 and 2015 , respectively. (2) 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. (3) Includes collateralized debt obligations of $719 million . (4) Represents balance sheet netting of derivative asset and liability balances and related cash collateral. See Note 12 (Derivatives) for additional information. (5) Derivative assets and derivative liabilities include contracts qualifying for hedge accounting, economic hedges, and derivatives included in trading assets and trading liabilities, respectively. (6) Consists of certain nonmarketable equity investments that are measured at fair value using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy. (continued on following page) (continued from previous page) (in millions) Level 1 Level 2 Level 3 Netting Total December 31, 2015 Trading assets (excluding derivatives) Securities of U.S. Treasury and federal agencies $ 13,357 3,469 — — 16,826 Securities of U.S. states and political subdivisions — 1,667 8 — 1,675 Collateralized loan obligations — 346 343 — 689 Corporate debt securities — 7,909 56 — 7,965 Mortgage-backed securities — 20,619 — — 20,619 Asset-backed securities — 1,005 — — 1,005 Equity securities 15,010 101 — — 15,111 Total trading securities (1) 28,367 35,116 407 — 63,890 Other trading assets — 891 34 — 925 Total trading assets (excluding derivatives) 28,367 36,007 441 — 64,815 Securities of U.S. Treasury and federal agencies 32,868 3,382 — — 36,250 Securities of U.S. states and political subdivisions — 48,490 1,500 (2) — 49,990 Mortgage-backed securities: Federal agencies — 104,546 — — 104,546 Residential — 8,557 1 — 8,558 Commercial — 14,015 73 — 14,088 Total mortgage-backed securities — 127,118 74 — 127,192 Corporate debt securities 54 14,952 405 — 15,411 Collateralized loan and other debt obligations (3) — 30,402 565 (2) — 30,967 Asset-backed securities: Automobile loans and leases — 15 — — 15 Home equity loans — 414 — — 414 Other asset-backed securities — 4,290 1,182 (2) — 5,472 Total asset-backed securities — 4,719 1,182 — 5,901 Other debt securities — 10 — — 10 Total debt securities 32,922 229,073 3,726 — 265,721 Marketable equity securities: Perpetual preferred securities 434 484 — — 918 Other marketable equity securities 719 — — — 719 Total marketable equity securities 1,153 484 — — 1,637 Total available-for-sale securities 34,075 229,557 3,726 — 267,358 Mortgages held for sale — 12,457 1,082 — 13,539 Loans — — 5,316 — 5,316 Mortgage servicing rights (residential) — — 12,415 — 12,415 Derivative assets: Interest rate contracts 16 62,390 319 — 62,725 Commodity contracts — 4,623 36 — 4,659 Equity contracts 3,726 2,907 966 — 7,599 Foreign exchange contracts 48 8,899 — — 8,947 Credit contracts — 375 275 — 650 Netting — — — (66,924 ) (4) (66,924 ) Total derivative assets (5) 3,790 79,194 1,596 (66,924 ) 17,656 Other assets – excluding nonmarketable equity investments at NAV — — 3,065 — 3,065 Total assets included in the fair value hierarchy $ 66,232 357,215 27,641 (66,924 ) 384,164 Other assets – nonmarketable equity investments at NAV (6) 23 Total assets recorded at fair value $ 384,187 Derivative liabilities: Interest rate contracts $ (41 ) (57,905 ) (31 ) — (57,977 ) Commodity contracts — (5,495 ) (24 ) — (5,519 ) Equity contracts (704 ) (3,027 ) (1,077 ) — (4,808 ) Foreign exchange contracts (37 ) (10,896 ) — — (10,933 ) Credit contracts — (351 ) (278 ) — (629 ) Other derivative contracts — — (58 ) — (58 ) Netting — — — 66,004 (4) 66,004 Total derivative liabilities (5) (782 ) (77,674 ) (1,468 ) 66,004 (13,920 ) Short sale liabilities: Securities of U.S. Treasury and federal agencies (8,621 ) (1,074 ) — — (9,695 ) Corporate debt securities — (4,209 ) — — (4,209 ) Equity securities (1,692 ) (4 ) — — (1,696 ) Other securities — (70 ) — — (70 ) Total short sale liabilities (10,313 ) (5,357 ) — — (15,670 ) Other liabilities (excluding derivatives) — — (30 ) — (30 ) Total liabilities recorded at fair value $ (11,095 ) (83,031 ) (1,498 ) 66,004 (29,620 ) (1) Net gains (losses) from trading activities recognized in the income statement for the year ended December 31, 2015 , include $(1.0) billion in net unrealized gains (losses) on trading securities held at December 31, 2015 . (2) 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. (3) Includes collateralized debt obligations of $257 million . (4) Represents balance sheet netting of derivative asset and liability balances and related cash collateral. See Note 12 (Derivatives) for additional information. (5) Derivative assets and derivative liabilities include contracts qualifying for hedge accounting, economic hedges, and derivatives included in trading assets and trading liabilities, respectively. (6) Consists of certain nonmarketable equity investments that are measured at fair value using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy. 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 are provided within Table 13.3 for the periods presented. The amounts reported as transfers represent the fair value as of the beginning of the quarter in which the transfer occurred. Table 13.3: Transfers Between Fair Value Levels Transfers Between Fair Value Levels Level 1 Level 2 Level 3 (1) (in millions) In Out In Out In Out Total Quarter ended June 30, 2016 Trading assets (excluding derivatives) $ — (4 ) 4 — — — — Available-for-sale securities — — 16 — — (16 ) — Mortgages held for sale — — 7 (25 ) 25 (7 ) — Net derivative assets and liabilities (2) — — (12 ) (3 ) 3 12 — Short sale liabilities — — — — — — — Total transfers $ — (4 ) 15 (28 ) 28 (11 ) — Quarter ended June 30, 2015 Trading assets (excluding derivatives) $ — — 83 — — (83 ) — Available-for-sale securities (3) — — 24 — — (24 ) — Mortgages held for sale — — 386 (53 ) 53 (386 ) — Net derivative assets and liabilities (2) — — 18 — — (18 ) — Short sale liabilities — — — — — — — Total transfers $ — — 511 (53 ) 53 (511 ) — Six months ended June 30, 2016 Trading assets (excluding derivatives) $ 4 (4 ) 15 (4 ) — (11 ) — Available-for-sale securities — — 16 (80 ) 80 (16 ) — Mortgages held for sale — — 9 (54 ) 54 (9 ) — Net derivative assets and liabilities (2) — — 50 (28 ) 28 (50 ) — Short sale liabilities (1 ) — — 1 — — — Total transfers $ 3 (4 ) 90 (165 ) 162 (86 ) — Six months ended June 30, 2015 Trading assets (excluding derivatives) $ 16 (3 ) 93 (16 ) 1 (91 ) — Available-for-sale securities (3) — — 76 — — (76 ) — Mortgages held for sale — — 453 (95 ) 95 (453 ) — Net derivative assets and liabilities (2) — — 52 12 (12 ) (52 ) — Short sale liabilities (1 ) — — 1 — — — Total transfers $ 15 (3 ) 674 (98 ) 84 (672 ) — (1) All transfers in and out of Level 3 are disclosed within the recurring Level 3 rollforward tables in this Note. (2) Includes transfers of net derivative assets and net derivative liabilities between levels due to changes 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. The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarter ended June 30, 2016 , are presented in Table 13.4 . Table 13.4: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – Quarter ended June 30, 2016 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 June 30, 2016 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 8 — — (1 ) — — 7 — Collateralized loan obligations 268 1 — (20 ) — — 249 (4 ) Corporate debt securities 33 (3 ) — 6 — — 36 (2 ) Mortgage-backed securities — — — — — — — — Asset-backed securities — — — — — — — — Equity securities — — — — — — — — Total trading securities 309 (2 ) — (15 ) — — 292 (6 ) Other trading assets 32 1 — — — — 33 3 Total trading assets (excluding derivatives) 341 (1 ) — (15 ) — — 325 (3 ) (3) Available-for-sale securities: Securities of U.S. states and political subdivisions 1,457 3 1 348 — (16 ) 1,793 — Mortgage-backed securities: Residential 1 — — — — — 1 — Commercial 73 — — 21 — — 94 — Total mortgage-backed securities 74 — — 21 — — 95 — Corporate debt securities 453 3 9 6 — — 471 — Collateralized loan and other debt obligations 813 8 4 126 — — 951 — Asset-backed securities: Automobile loans and leases — — — — — — — — Other asset-backed securities 1,240 2 (7 ) (118 ) — — 1,117 (4 ) Total asset-backed securities 1,240 2 (7 ) (118 ) — — 1,117 (4 ) Total debt securities 4,037 16 7 383 — (16 ) 4,427 (4 ) (4) Marketable equity securities: Perpetual preferred securities — — — — — — — — Other marketable equity securities — — — — — — — — Total marketable equity securities — — — — — — — — (5) Total available-for-sale securities 4,037 16 7 383 — (16 ) 4,427 (4 ) Mortgages held for sale 1,071 6 — (11 ) 25 (7 ) 1,084 6 (6) Loans 5,221 (3 ) — (186 ) — — 5,032 (4 ) (6) Mortgage servicing rights (residential) (7) 11,333 (1,392 ) — 455 — — 10,396 (824 ) (6) Net derivative assets and liabilities: Interest rate contracts 501 660 — (471 ) — — 690 357 Commodity contracts 11 6 — 1 3 — 21 9 Equity contracts (283 ) 9 — 10 — 12 (252 ) (7 ) Credit contracts — (1 ) — 62 — — 61 (4 ) Other derivative contracts (77 ) (9 ) — (2 ) — — (88 ) (10 ) Total derivative contracts 152 665 — (400 ) 3 12 432 345 (8) Other assets 3,097 (181 ) — 122 — — 3,038 (181 ) (5) Short sale liabilities — — — — — — — — (3) Other liabilities (excluding derivatives) (5 ) — — — — — (5 ) — (6) (1) See Table 13.5 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) Table 13.5 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 June 30, 2016 . Table 13.5: Gross Purchases, Sales, Issuances and Settlements – Level 3 – Quarter ended June 30, 2016 (in millions) Purchases Sales Issuances Settlements Net Quarter ended June 30, 2016 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 2 (2 ) — (1 ) (1 ) Collateralized loan obligations 134 (154 ) — — (20 ) Corporate debt securities 10 (4 ) — — 6 Mortgage-backed securities — — — — — Asset-backed securities — — — — — Equity securities — — — — — Total trading securities 146 (160 ) — (1 ) (15 ) Other trading assets — — — — — Total trading assets (excluding derivatives) 146 (160 ) — (1 ) (15 ) Available-for-sale securities: Securities of U.S. states and political subdivisions — (7 ) 459 (104 ) 348 Mortgage-backed securities: Residential — — — — — Commercial 22 — — (1 ) 21 Total mortgage-backed securities 22 — — (1 ) 21 Corporate debt securities 6 — — — 6 Collateralized loan and other debt obligations 188 (4 ) — (58 ) 126 Asset-backed securities: Automobile loans and leases — — — — — Other asset-backed securities — (28 ) 38 (128 ) (118 ) Total asset-backed securities — (28 ) 38 (128 ) (118 ) Total debt securities 216 (39 ) 497 (291 ) 383 Marketable equity securities: Perpetual preferred securities — — — — — Other marketable equity securities — — — — — Total marketable equity securities — — — — — Total available-for-sale securities 216 (39 ) 497 (291 ) 383 Mortgages held for sale 22 (152 ) 164 (45 ) (11 ) Loans 8 — 84 (278 ) (186 ) Mortgage servicing rights (residential) — (22 ) 477 — 455 Net derivative assets and liabilities: Interest rate contracts — — — (471 ) (471 ) Commodity contracts — — — 1 1 Equity contracts 16 1 — (7 ) 10 Credit contracts — (1 ) — 63 62 Other derivative contracts — — — (2 ) (2 ) Total derivative contracts 16 — — (416 ) (400 ) Other assets 122 — — — 122 Short sale liabilities — — — — — Other liabilities (excluding derivatives) — — — — — The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarter ended June 30, 2015 , are presented in Table 13.6 . Table 13.6: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – Quarter ended June 30, 2015 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 June 30, 2015 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 6 — — 2 — — 8 — Collateralized loan obligations 381 21 — 5 — — 407 13 Corporate debt securities 31 — — 4 — (2 ) 33 — Mortgage-backed securities — — — — — — — — Asset-backed securities 81 — — — — (81 ) — — Equity securities 10 1 — (10 ) — — 1 — Total trading securities 509 22 — 1 — (83 ) 449 13 Other trading assets 64 (1 ) — (1 ) — — 62 1 Total trading assets (excluding derivatives) 573 21 — — — (83 ) 511 14 (3) Available-for-sale securities: Securities of U.S. states and political subdivisions 1,980 4 (12 ) (59 ) — (24 ) 1,889 — Mortgage-backed securities: Residential — — — — — — — — Commercial 104 — (1 ) — — — 103 — Total mortgage-backed securities 104 — (1 ) — — — 103 — Corporate debt securities 312 3 (3 ) 22 — — 334 2 Collateralized loan and other debt obligations 1,053 32 5 (166 ) — — 924 — Asset-backed securities: Automobile loans and leases 249 — 11 — — — 260 — Other asset-backed securities 1,206 1 2 111 — — 1,320 — Total asset-backed securities 1,455 1 13 111 — — 1,580 — Total debt securities 4,904 40 2 (92 ) — (24 ) 4,830 2 (4) Marketable equity securities: Perpetual preferred securities 640 — — — — (640 ) — — Other marketable equity securities — — — — — — — — Total marketable equity securities 640 — — — — (640 ) — — (5) Total available-for-sale securities 5,544 40 2 (92 ) — (664 ) 4,830 2 Mortgages held for sale 2,098 (1 ) — (141 ) 53 (386 ) 1,623 (8 ) (6) Loans 5,730 (41 ) — (38 ) — — 5,651 (37 ) (6) Mortgage servicing rights (residential) (7) 11,739 499 — 423 — — 12,661 1,053 (6) Net derivative assets and liabilities: Interest rate contracts 438 (57 ) — (129 ) — — 252 8 Commodity contracts (2 ) 3 — 2 — — 3 3 Equity contracts (186 ) 57 — (38 ) — (18 ) (185 ) 43 Credit contracts (154 ) 3 — 34 — — (117 ) (9 ) Other derivative contracts (52 ) 14 — — — — (38 ) 14 Total derivative contracts 44 20 — (131 ) — (18 ) (85 ) 59 (8) Other assets 2,549 (9 ) — 96 — — 2,636 (8 ) (5) Short sale liabilities (15 ) — — 14 — — (1 ) — (3) Other liabilities (excluding derivatives) (27 ) (3 ) — — — — (30 ) — (6) (1) See Table 13.7 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) Table 13.7 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 June 30, 2015 . Table 13.7: Gross Purchases, Sales, Issuances and Settlements – Level 3 – Quarter ended June 30, 2015 (in millions) Purchases Sales Issuances Settlements Net Quarter ended June 30, 2015 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 3 (1 ) — — 2 Collateralized loan obligations 508 (503 ) — — 5 Corporate debt securities 12 (8 ) — — 4 Mortgage-backed securities — — — — — Asset-backed securities — — — — — Equity securities — — — (10 ) (10 ) Total trading securities 523 (512 ) — (10 ) 1 Other trading assets — (1 ) — — (1 ) Total trading assets (excluding derivatives) 523 (513 ) — (10 ) — Available-for-sale securities: Securities of U.S. states and political subdivisions — (21 ) 239 (277 ) (59 ) Mortgage-backed securities: Residential — — — — — Commercial — — — — — Total mortgage-backed securities — — — — — Corporate debt securities 36 (8 ) — (6 ) 22 Collateralized loan and other debt obligations 15 (99 ) — (82 ) (166 ) Asset-backed securities: Automobile loans and leases — — — — — Other asset-backed securities — — 179 (68 ) 111 Total asset-backed securities — — 179 (68 ) 111 Total debt securities 51 (128 ) 418 (433 ) (92 ) Marketable equity securities: Perpetual preferred securities — — — — — Other marketable equity securities — — — — — Total marketable equity securities — — — — — Total available-for-sale securities 51 (128 ) 418 (433 ) (92 ) Mortgages held for sale 67 (332 ) 226 (102 ) (141 ) Loans 1 — 99 (138 ) (38 ) Mortgage servicing rights (residential) — — 428 (5 ) 423 Net derivative assets and liabilities: Interest rate contracts — — — (129 ) (129 ) Commodity contracts — — — 2 2 Equity contracts 15 (39 ) — (14 ) (38 ) Credit contracts 4 (2 ) — 32 34 Other derivative contracts — — — — — Total derivative contracts 19 (41 ) — (109 ) (131 ) Other assets 96 — — — 96 Short sale liabilities 14 — — — 14 Other liabilities (excluding derivatives) — — — — — The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the first half of 2016 , are presented in Table 13.8 . Table 13.8: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – Six months ended June 30, 2016 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) Six months ended June 30, 2016 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 8 — — (1 ) — — 7 — Collateralized loan obligations 343 (24 ) — (59 ) — (11 ) 249 (25 ) Corporate debt securities 56 (8 ) — (12 ) — — 36 (6 ) Mortgage-backed securities — — — — — — — — Asset-backed securities — — — — — — — — Equity securities — — — — — — — — Total trading securities 407 (32 ) — (72 ) — (11 ) 292 (31 ) Other trading assets 34 (1 ) — — — — 33 3 Total trading assets (excluding derivatives) 441 (33 ) — (72 ) — (11 ) 325 (28 ) (3) Available-for-sale securities: Securities of U.S. states and political subdivisions 1,500 4 4 221 80 (16 ) 1,793 — Mortgage-backed securities: Residential 1 — — — — — 1 — Commercial 73 — — 21 — — 94 — Total mortgage-backed securities 74 — — 21 — — 95 — Corporate debt securities 405 5 28 33 — — 471 — Collateralized loan and other debt obligations 565 23 (20 ) 383 — — 951 — Asset-backed securities: Automobile loans and leases — — — — — — — — Other asset-backed securities 1,182 2 (7 ) (60 ) — — 1,117 (4 ) Total asset-backed securities 1,182 2 (7 ) (60 ) — — 1,117 (4 ) Total debt securities 3,726 34 5 598 80 (16 ) 4,427 (4 ) (4) Marketable equity securities: Perpetual preferred securities — — — — — — — — Other marketable equity securities — — — — — — — — Total marketable equity securities — — — — — — — — (5) Total available-for-sale securities 3,726 34 5 598 80 (16 ) 4,427 (4 ) Mortgages held for sale 1,082 30 — (73 ) 54 (9 ) 1,084 27 (6) Loans 5,316 (4 ) — (280 ) — — 5,032 (6 ) (6) Mortgage servicing rights (residential) (7) 12,415 (2,840 ) — 821 — — 10,396 (1,781 ) (6) Net derivative assets and liabilities: Interest rate contracts 288 1,259 — (850 ) — (7 ) 690 458 Commodity contracts 12 8 — (2 ) 3 — 21 13 Equity contracts (111 ) 7 — (130 ) 25 (43 ) (252 ) (160 ) Credit contracts (3 ) 8 — 56 — — 61 4 Other derivative contracts (58 ) (30 ) — — — — (88 ) (30 ) Total derivative contracts 128 1,252 — (926 ) 28 (50 ) 432 285 (8) Other assets 3,065 (238 ) — 211 — — 3,038 (239 ) (5) Short sale liabilities — — — — — — — — (3) Other liabilities (excluding derivatives) (30 ) — — 25 — — (5 ) — (6) (1) See Table 13.9 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) Table 13.9 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 half of 2016 . Table 13.9: Gross Purchases, S |
Preferred Stock
Preferred Stock | 6 Months Ended |
Jun. 30, 2016 | |
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. Table 14.1: Preferred Stock Shares June 30, 2016 December 31, 2015 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 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 25,000 80,000 Series V 6.000% Non-Cumulative Perpetual Class A Preferred Stock 25,000 40,000 25,000 40,000 Series W 5.700% Non-Cumulative Perpetual Class A Preferred Stock 25,000 40,000 — — Series X 5.500% Non-Cumulative Perpetual Class A Preferred Stock 25,000 46,000 — — ESOP Cumulative Convertible Preferred Stock (1) — 1,718,142 — 1,252,386 Total 12,220,852 11,669,096 (1) See the ESOP Cumulative Convertible Preferred Stock section in this Note for additional information about the liquidation preference for the ESOP Cumulative Convertible Preferred Stock. Table 14.2: Preferred Stock – Shares Issued and Carrying Value June 30, 2016 December 31, 2015 (in millions, except shares) Shares issued and outstanding Liquidation preference value Carrying value Discount Shares issued and outstanding Liquidation preference 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 — 80,000 2,000 2,000 — Series V (1) 6.000% Non-Cumulative Perpetual Class A Preferred Stock 40,000 1,000 1,000 — 40,000 1,000 1,000 — Series W (1) 5.700% Non-Cumulative Perpetual Class A Preferred Stock 40,000 1,000 1,000 — — — — — Series X (1) 5.500% Non-Cumulative Perpetual Class A Preferred Stock 46,000 1,150 1,150 — — — — — ESOP Cumulative Convertible Preferred Stock 1,718,142 1,718 1,718 — 1,252,386 1,252 1,252 — Total 11,811,673 $ 26,229 24,830 1,399 11,259,917 $ 23,613 22,214 1,399 (1) Preferred shares qualify as Tier 1 capital. In January 2016, we issued 40 million Depositary Shares, each representing a 1/1,000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series W, for an aggregate public offering price of $1.0 billion . In June 2016, we issued 46 million Depositary Shares, each representing a 1/1,000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series X, for an aggregate public offering price of $1.2 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 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. Table 14.3: ESOP Preferred Stock Shares issued and outstanding Carrying value Adjustable dividend rate (in millions, except shares) Jun 30, Dec 31, Jun 30, Dec 31, Minimum Maximum ESOP Preferred Stock $1,000 liquidation preference per share 2016 637,489 — $ 637 — 9.30 % 10.30 2015 200,820 220,408 201 220 8.90 9.90 2014 255,413 283,791 255 284 8.70 9.70 2013 222,558 251,304 223 251 8.50 9.50 2012 144,072 166,353 144 166 10.00 11.00 2011 149,301 177,614 149 178 9.00 10.00 2010 90,775 113,234 91 113 9.50 10.50 2008 17,714 28,972 18 29 10.50 11.50 2007 — 10,710 — 11 10.75 11.75 Total ESOP Preferred Stock (1) 1,718,142 1,252,386 $ 1,718 1,252 Unearned ESOP shares (2) $ (1,868 ) (1,362 ) (1) At June 30, 2016 and December 31, 2015 , additional paid-in capital included $150 million and $110 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 | 6 Months Ended |
Jun. 30, 2016 | |
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. Table 15.1 presents the components of net periodic benefit cost. Table 15.1: Net Periodic Benefit Cost 2016 2015 Pension benefits Pension benefits (in millions) Qualified Non-qualified Other benefits Qualified Non-qualified Other benefits Quarter ended June 30, Service cost $ 1 — — 1 — 2 Interest cost 109 6 10 107 7 10 Expected return on plan assets (141 ) — (7 ) (161 ) — (9 ) Amortization of net actuarial loss (gain) 33 3 (1 ) 27 4 (1 ) Amortization of prior service credit — — — — — — Settlement loss 4 — — — — — Net periodic benefit cost (income) $ 6 9 2 (26 ) 11 2 Six months ended June 30, Service cost $ 2 — — 1 — 4 Interest cost 218 13 20 214 13 21 Expected return on plan assets (283 ) — (15 ) (322 ) — (18 ) Amortization of net actuarial loss (gain) 66 6 (2 ) 54 9 (2 ) Amortization of prior service credit — — — — — (1 ) Settlement loss 4 2 — — 13 — Net periodic benefit cost (income) $ 7 21 3 (53 ) 35 4 |
Earnings Per Common Share
Earnings Per Common Share | 6 Months Ended |
Jun. 30, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | Note 16: Earnings Per Common Share Table 16.1 shows earnings per common share and diluted earnings per common share and reconciles the numerator and denominator of both earnings per common share calculations. Table 16.1: Earnings Per Common Share Calculations Quarter ended June 30, Six months ended June 30, (in millions, except per share amounts) 2016 2015 2016 2015 Wells Fargo net income $ 5,558 5,719 $ 11,020 11,523 Less: Preferred stock dividends and other 385 356 762 699 Wells Fargo net income applicable to common stock (numerator) $ 5,173 5,363 $ 10,258 10,824 Earnings per common share Average common shares outstanding (denominator) 5,066.9 5,151.9 5,071.3 5,156.1 Per share $ 1.02 1.04 $ 2.02 2.10 Diluted earnings per common share Average common shares outstanding 5,066.9 5,151.9 5,071.3 5,156.1 Add: Stock options 19.6 27.3 20.4 28.1 Restricted share rights 21.0 26.8 27.4 34.6 Warrants 10.6 14.5 10.7 14.4 Diluted average common shares outstanding (denominator) 5,118.1 5,220.5 5,129.8 5,233.2 Per share $ 1.01 1.03 $ 2.00 2.07 Table 16.2 presents the outstanding options 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. Table 16.2: Outstanding Anti-Dilutive Options Weighted-average shares Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Options 2.7 5.6 3.7 6.3 |
Other Comprehensive Income
Other Comprehensive Income | 6 Months Ended |
Jun. 30, 2016 | |
Cumulative Other Comprehensive Income Balances [Abstract] | |
Other Comprehensive Income | Note 17: Other Comprehensive Income Table 17.1 provides the components of other comprehensive income (OCI), reclassifications to net income by income statement line item, and the related tax effects. Table 17.1: Summary of Other Comprehensive Income Quarter ended June 30, Six months ended June 30, 2016 2015 2016 2015 (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 $ 1,571 (596 ) 975 (1,969 ) 678 (1,291 ) 2,366 (906 ) 1,460 (1,576 ) 631 (945 ) Reclassification of net (gains) losses to net income: Interest income on investment securities (1) 3 (1 ) 2 1 — 1 3 (1 ) 2 (2 ) 1 (1 ) Net gains on debt securities (447 ) 168 (279 ) (181 ) 68 (113 ) (691 ) 259 (432 ) (459 ) 173 (286 ) Net gains from equity investments (60 ) 23 (37 ) (38 ) 14 (24 ) (119 ) 45 (74 ) (57 ) 21 (36 ) Other noninterest income — — — — — — (1 ) — (1 ) — — — Subtotal reclassifications to net income (504 ) 190 (314 ) (218 ) 82 (136 ) (808 ) 303 (505 ) (518 ) 195 (323 ) Net change 1,067 (406 ) 661 (2,187 ) 760 (1,427 ) 1,558 (603 ) 955 (2,094 ) 826 (1,268 ) Derivatives and hedging activities: Net unrealized gains (losses) arising during the period 1,057 (399 ) 658 (488 ) 184 (304 ) 3,056 (1,152 ) 1,904 464 (175 ) 289 Reclassification of net (gains) losses to net income: Interest income on investment securities — — — (1 ) — (1 ) — — — (2 ) 1 (1 ) Interest income on loans (268 ) 101 (167 ) (272 ) 103 (169 ) (528 ) 199 (329 ) (509 ) 192 (317 ) Interest expense on long-term debt 3 (1 ) 2 5 (2 ) 3 7 (3 ) 4 9 (3 ) 6 Subtotal reclassifications to net income (265 ) 100 (165 ) (268 ) 101 (167 ) (521 ) 196 (325 ) (502 ) 190 (312 ) Net change 792 (299 ) 493 (756 ) 285 (471 ) 2,535 (956 ) 1,579 (38 ) 15 (23 ) Defined benefit plans adjustments: Net actuarial losses arising during the period (19 ) 7 (12 ) — — — (27 ) 10 (17 ) (11 ) 4 (7 ) Reclassification of amounts to net periodic benefit costs (2): Amortization of net actuarial loss 35 (14 ) 21 30 (11 ) 19 70 (27 ) 43 61 (23 ) 38 Settlements and other 4 (1 ) 3 — — — 6 (2 ) 4 12 (5 ) 7 Subtotal reclassifications to net periodic benefit costs 39 (15 ) 24 30 (11 ) 19 76 (29 ) 47 73 (28 ) 45 Net change 20 (8 ) 12 30 (11 ) 19 49 (19 ) 30 62 (24 ) 38 Foreign currency translation adjustments: Net unrealized gains (losses) arising during the period (6 ) (1 ) (7 ) 10 6 16 37 7 44 (45 ) (5 ) (50 ) Net change (6 ) (1 ) (7 ) 10 6 16 37 7 44 (45 ) (5 ) (50 ) Other comprehensive income (loss) $ 1,873 (714 ) 1,159 (2,903 ) 1,040 (1,863 ) 4,179 (1,571 ) 2,608 (2,115 ) 812 (1,303 ) Less: Other comprehensive income (loss) from noncontrolling interests, net of tax (15 ) (154 ) (43 ) 147 Wells Fargo other comprehensive income (loss), net of tax $ 1,174 (1,709 ) 2,651 (1,450 ) (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). Table 17.2: Cumulative OCI Balances (in millions) Investment securities Derivatives and hedging activities Defined benefit plans adjustments Foreign currency translation adjustments Cumulative other compre- hensive income Quarter ended June 30, 2016 Balance, beginning of period $ 2,137 1,706 (1,933 ) (136 ) 1,774 Net unrealized gains (losses) arising during the period 975 658 (12 ) (7 ) 1,614 Amounts reclassified from accumulated other comprehensive income (314 ) (165 ) 24 — (455 ) Net change 661 493 12 (7 ) 1,159 Less: Other comprehensive loss from noncontrolling interests (14 ) — — (1 ) (15 ) Balance, end of period $ 2,812 2,199 (1,921 ) (142 ) 2,948 Quarter ended June 30, 2015 Balance, beginning of period $ 4,784 781 (1,684 ) (104 ) 3,777 Net unrealized gains (losses) arising during the period (1,291 ) (304 ) — 16 (1,579 ) Amounts reclassified from accumulated other comprehensive income (136 ) (167 ) 19 — (284 ) Net change (1,427 ) (471 ) 19 16 (1,863 ) Less: Other comprehensive loss from noncontrolling interests (152 ) — — (2 ) (154 ) Balance, end of period $ 3,509 310 (1,665 ) (86 ) 2,068 Six months ended June 30, 2016 Balance, beginning of period $ 1,813 620 (1,951 ) (185 ) 297 Net unrealized gains (losses) arising during the period 1,460 1,904 (17 ) 44 3,391 Amounts reclassified from accumulated other comprehensive income (505 ) (325 ) 47 — (783 ) Net change 955 1,579 30 44 2,608 Less: Other comprehensive income (loss) from noncontrolling interests (44 ) — — 1 (43 ) Balance, end of period $ 2,812 2,199 (1,921 ) (142 ) 2,948 Six months ended June 30, 2015 Balance, beginning of period $ 4,926 333 (1,703 ) (38 ) 3,518 Net unrealized gains (losses) arising during the period (945 ) 289 (7 ) (50 ) (713 ) Amounts reclassified from accumulated other comprehensive income (323 ) (312 ) 45 — (590 ) Net change (1,268 ) (23 ) 38 (50 ) (1,303 ) Less: Other comprehensive income (loss) from noncontrolling interests 149 — — (2 ) 147 Balance, end of period $ 3,509 310 (1,665 ) (86 ) 2,068 |
Operating Segments
Operating Segments | 6 Months Ended |
Jun. 30, 2016 | |
Segment Reporting [Abstract] | |
Operating Segments | Note 18: Operating Segments We have three reportable operating segments: Community Banking; Wholesale Banking; and Wealth and Investment Management. 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. For a description of our operating segments, including the underlying management accounting process, see Note 24 (Operating Segments) to Financial Statements in our 2015 Form 10-K. Table 18.1: Operating Segments Community Banking Wholesale Banking Wealth and Investment Management Other (1) Consolidated Company (income/expense in millions, average balances in billions) 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 Quarter ended June 30, Net interest income (2) $ 7,379 7,277 3,919 3,591 932 832 (497 ) (430 ) 11,733 11,270 Provision (reversal of provision) for credit losses 689 397 385 (84 ) 2 (10 ) (2 ) (3 ) 1,074 300 Noninterest income 4,825 4,690 3,365 3,019 2,987 3,144 (748 ) (805 ) 10,429 10,048 Noninterest expense 6,648 6,719 4,036 3,504 2,976 3,038 (794 ) (792 ) 12,866 12,469 Income (loss) before income tax expense (benefit) 4,867 4,851 2,863 3,190 941 948 (449 ) (440 ) 8,222 8,549 Income tax expense (benefit) 1,667 1,620 795 951 358 359 (171 ) (167 ) 2,649 2,763 Net income (loss) before noncontrolling interests 3,200 3,231 2,068 2,239 583 589 (278 ) (273 ) 5,573 5,786 Less: Net income (loss) from noncontrolling interests 21 16 (5 ) 48 (1 ) 3 — — 15 67 Net income (loss) (3) $ 3,179 3,215 2,073 2,191 584 586 (278 ) (273 ) 5,558 5,719 Average loans $ 485.7 472.3 451.4 386.2 66.7 59.3 (53.0 ) (47.4 ) 950.8 870.4 Average assets 967.6 910.0 772.6 713.7 205.3 189.1 (83.4 ) (83.5 ) 1,862.1 1,729.3 Average deposits 703.7 654.8 425.8 432.4 182.5 168.2 (75.3 ) (70.1 ) 1,236.7 1,185.3 Six months ended June 30, Net interest income (2) $ 14,847 14,424 7,667 7,028 1,875 1,658 (989 ) (854 ) 23,400 22,256 Provision (reversal of provision) for credit losses 1,409 1,055 748 (135 ) (12 ) (13 ) 15 1 2,160 908 Noninterest income 9,971 9,654 6,575 5,991 5,898 6,294 (1,487 ) (1,599 ) 20,957 20,340 Noninterest expense 13,484 13,310 8,004 7,122 6,018 6,160 (1,612 ) (1,616 ) 25,894 24,976 Income (loss) before income tax expense (benefit) 9,925 9,713 5,490 6,032 1,767 1,805 (879 ) (838 ) 16,303 16,712 Income tax expense (benefit) 3,364 2,910 1,514 1,768 672 683 (334 ) (319 ) 5,216 5,042 Net income (loss) before noncontrolling interests 6,561 6,803 3,976 4,264 1,095 1,122 (545 ) (519 ) 11,087 11,670 Less: Net income (loss) from noncontrolling interests 86 41 (18 ) 99 (1 ) 7 — — 67 147 Net income (loss) (3) $ 6,475 6,762 3,994 4,165 1,096 1,115 (545 ) (519 ) 11,020 11,523 Average loans $ 485.0 472.3 440.6 383.1 65.4 58.1 (52.0 ) (46.6 ) 939.0 866.9 Average assets 957.5 909.8 760.6 702.2 206.7 190.3 (83.8 ) (83.7 ) 1,841.0 1,718.6 Average deposits 693.3 649.1 426.9 432.1 183.5 169.2 (75.7 ) (70.3 ) 1,228.0 1,180.1 (1) Includes the elimination of certain items that are included in more than one business segment, substantially all of which represents products and services for Wealth and Investment Management customers served through Community Banking distribution channels. (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 | 6 Months Ended |
Jun. 30, 2016 | |
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). Table 19.1 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. 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 reflects risk-weighted assets (RWAs) under the Standardized and Advanced Approaches with Transition Requirements. The Standardized Approach applies assigned risk weights to broad risk categories, while the 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 June 30, 2016 , 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. Table 19.1: Regulatory Capital Information Wells Fargo & Company Wells Fargo Bank, N.A. June 30, 2016 December 31, 2015 June 30, 2016 December 31, 2015 (in millions, except ratios) Advanced Approach Standardized Approach Advanced Approach Standardized Advanced Approach Standardized Advanced Approach Standardized Regulatory capital: Common equity tier 1 $ 146,624 146,624 144,247 144,247 130,700 130,700 126,901 126,901 Tier 1 169,287 169,287 164,584 164,584 130,700 130,700 126,901 126,901 Total 200,125 211,311 195,153 205,529 143,686 154,068 140,545 149,969 Assets: Risk-weighted $ 1,321,729 1,354,622 1,263,182 1,303,148 1,173,316 1,239,031 1,100,896 1,197,648 Adjusted average (1) 1,830,527 1,830,527 1,757,107 1,757,107 1,653,380 1,653,380 1,584,297 1,584,297 Regulatory capital ratios: Common equity tier 1 capital 11.09 % 10.82 * 11.42 11.07 * 11.14 10.55 * 11.53 10.60 * Tier 1 capital 12.81 12.50 * 13.03 12.63 * 11.14 10.55 * 11.53 10.60 * Total capital 15.14 * 15.60 15.45 * 15.77 12.25 * 12.43 12.77 12.52 * Tier 1 leverage (1) 9.25 9.25 9.37 9.37 7.91 7.91 8.01 8.01 *Denotes the lowest capital ratio as determined under the Advanced and Standardized Approaches. (1) The leverage ratio consists of Tier 1 capital divided by quarterly average total assets, excluding goodwill and certain other items. Table 19.2 presents the minimum required regulatory capital ratios under Transition Requirements to which the Company and the Bank were subject as of June 30, 2016 and December 31, 2015 . Table 19.2: Minimum Required Regulatory Capital Ratios – Transition Requirements (1) Wells Fargo & Company Wells Fargo Bank, N.A. June 30, 2016 December 31, 2015 June 30, 2016 December 31, 2015 Regulatory capital ratios: Common equity tier 1 capital 5.625 % 4.500 5.125 4.500 Tier 1 capital 7.125 6.000 6.625 6.000 Total capital 9.125 8.000 8.625 8.000 Tier 1 leverage 4.000 4.000 4.000 4.000 (1) At June 30, 2016 , under transition requirements, the CET1, tier 1 and total capital minimum ratio requirements for Wells Fargo & Company include a capital conservation buffer of 0.625% and a global systemically important bank (G-SIB) surcharge of 0.5% . Only the 0.625% capital conservation buffer applies to the Bank at June 30, 2016 . |
Summary of Significant Accoun29
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2016 | |
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, 2015 ( 2015 Form 10-K). There were no material changes to these policies in the first half of 2016 . 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, 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 2015 Form 10-K. |
Accounting Standards Adopted in 2016 | Accounting Standards Adopted in 2016 In first quarter 2016, we adopted the following new accounting guidance: • Accounting Standards Update (ASU or Update) 2015-16 – Business Combinations ( Topic 805 ): Simplifying the Accounting for Measurement-Period Adjustments; • ASU 2015-07 – Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities that Calculate Net Asset Value per Share (or Its Equivalent); • ASU 2015-03 – Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs; • ASU 2015-02 – Consolidation (Topic 810): Amendments to the Consolidation Analysis; • ASU 2015-01 – Income Statement – Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items; • ASU 2014-16 – Derivatives and Hedging (Topic 815): Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share is More Akin to Debt or to Equity; • ASU 2014-13 – Consolidation (Topic 810): Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity; and • ASU 2014-12 – Compensation – Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. |
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 submitted annually under the 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 capital plans, which contemplate 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 June 30, 2016 . At June 30, 2015 , we had a $750 million private repurchase contract outstanding that settled in July 2015 for 13.6 million shares of common stock. |
Subsequent Events | SUBSEQUENT EVENTS We have evaluated the effects of events that have occurred subsequent to June 30, 2016 , and there have been no material events that would require recognition in our second quarter 2016 consolidated financial statements or disclosure in the Notes to the consolidated financial statements. |
Accounting Standards Update 2015-16 [Member] | |
Significant Accounting Policies [Line Items] | |
Accounting Standards Adopted in 2016 | ASU 2015-16 eliminates the requirement for companies to retrospectively adjust initial amounts recognized in business combinations when the accounting is incomplete at the acquisition date. Under the new guidance, companies should record adjustments in the same reporting period in which the amounts are determined. We adopted this accounting change in first quarter 2016 with prospective application. The Update did not have a material impact on our consolidated financial statements. |
Accounting Standards Update 2015-07 [Member] | |
Significant Accounting Policies [Line Items] | |
Accounting Standards Adopted in 2016 | ASU 2015-07 eliminates the disclosure requirement to categorize investments within the fair value hierarchy that are measured at fair value using net asset value as a practical expedient. We adopted this change in first quarter 2016 with retrospective application. The Update did not affect our consolidated financial statements as it impacts only the fair value disclosure requirements for certain investments. For additional information, see Note 13 (Fair Values of Assets and Liabilities). |
Accounting Standards Update 2015-03 [Member] | |
Significant Accounting Policies [Line Items] | |
Accounting Standards Adopted in 2016 | ASU 2015-03 changes the balance sheet presentation for debt issuance costs. Under the new guidance, debt issuance costs should be reported as a deduction from debt liabilities rather than as a deferred charge classified as an asset. We adopted this change in first quarter 2016, which resulted in a $180 million reclassification from Other assets to Long-term debt on January 1, 2016. Because the impact on prior periods was not material, we applied the guidance prospectively. |
Accounting Standards Update 2015-02 [Member] | |
Significant Accounting Policies [Line Items] | |
Accounting Standards Adopted in 2016 | ASU 2015-02 requires companies to reevaluate all legal entities under new consolidation guidance. The new guidance amends the criteria companies use to evaluate whether they should consolidate certain variable interest entities that have fee arrangements and the criteria used to determine whether partnerships and similar entities are variable interest entities. The new guidance also amends the consolidation analysis for certain investment funds and excludes certain money market funds. We adopted the accounting changes on January 1, 2016, which resulted in a net increase in assets and a corresponding cumulative-effect adjustment to noncontrolling interests of $121 million . There was no impact to consolidated retained earnings. For additional information, see Note 7 (Securitizations and Variable Interest Entities). |
Accounting Standards Update 2015-01 [Member] | |
Significant Accounting Policies [Line Items] | |
Accounting Standards Adopted in 2016 | ASU 2015-01 removes the concept of extraordinary items from GAAP and eliminates the requirement for extraordinary items to be separately presented in the statement of income. We adopted this change in first quarter 2016 with prospective application. This Update did not have a material impact on our consolidated financial statements. |
Accounting Standards Update 2014-16 [Member] | |
Significant Accounting Policies [Line Items] | |
Accounting Standards Adopted in 2016 | ASU 2014-16 clarifies that the nature of host contracts in hybrid financial instruments that are issued in share form should be determined based on the entire instrument, including the embedded derivative. We adopted this new requirement in first quarter 2016. This Update did not have a material impact on our consolidated financial statements. |
Accounting Standards Update 2014-13 [Member] | |
Significant Accounting Policies [Line Items] | |
Accounting Standards Adopted in 2016 | ASU 2014-13 provides a measurement alternative to companies that consolidate collateralized financing entities (CFEs), such as collateralized debt obligation and collateralized loan obligation structures. Under the new guidance, companies can measure both the financial assets and financial liabilities of a CFE using the more observable fair value of the financial assets or of the financial liabilities. We adopted this accounting change in first quarter 2016. The Update did not have a material impact on our consolidated financial statements. |
Accounting Standards Update 2014-12 [Member] | |
Significant Accounting Policies [Line Items] | |
Accounting Standards Adopted in 2016 | ASU 2014-12 provides accounting guidance for employee share-based payment awards with specific performance targets. The Update clarifies that performance targets should be treated as performance conditions if the targets affect vesting and could be achieved after the requisite service period. We adopted this change in first quarter 2016 with prospective application. The Update did not have a material effect on our consolidated financial statements, as our historical practice complies with the new requirements. |
Summary of Significant Accoun30
Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Accounting Policies [Abstract] | |
Supplemental Cash Flow Information | Significant noncash activities are presented below. Table 1.1: Supplemental Cash Flow Information Six months ended June 30, (in millions) 2016 2015 Trading assets retained from securitization of MHFS $ 23,403 20,816 Transfers from loans to MHFS 3,309 4,757 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) | 6 Months Ended |
Jun. 30, 2016 | |
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 | Table 3.1 provides the detail of federal funds sold, securities purchased under short-term resale agreements (generally less than one year) and other short-term investments. Substantially all of the interest-earning deposits at June 30, 2016 , and December 31, 2015 , were held at the Federal Reserve. Table 3.1: Fed Funds Sold and Other Short-Term Investments (in millions) Jun 30, Dec 31, Federal funds sold and securities purchased under resale agreements $ 54,593 45,828 Interest-earning deposits 231,210 220,409 Other short-term investments 9,718 3,893 Total $ 295,521 270,130 |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities Major Categories | Table 4.1 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. Table 4.1: Amortized Cost and Fair Value (in millions) Amortized Cost Gross unrealized gains Gross unrealized losses Fair value June 30, 2016 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ 27,348 591 — 27,939 Securities of U.S. states and political subdivisions 53,960 1,165 (1,101 ) 54,024 Mortgage-backed securities: Federal agencies 92,929 2,984 (45 ) 95,868 Residential 7,698 605 (32 ) 8,271 Commercial 11,580 155 (68 ) 11,667 Total mortgage-backed securities 112,207 3,744 (145 ) 115,806 Corporate debt securities 13,306 336 (262 ) 13,380 Collateralized loan and other debt obligations (1) 34,551 112 (382 ) 34,281 Other (2) 6,230 99 (55 ) 6,274 Total debt securities 247,602 6,047 (1,945 ) 251,704 Marketable equity securities: Perpetual preferred securities 650 87 (3 ) 734 Other marketable equity securities 218 350 — 568 Total marketable equity securities 868 437 (3 ) 1,302 Total available-for-sale securities 248,470 6,484 (1,948 ) 253,006 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies 44,675 2,642 — 47,317 Securities of U.S. states and political subdivisions 2,181 151 — 2,332 Federal agency mortgage-backed securities 49,594 880 — 50,474 Collateralized loan obligations 1,406 — (21 ) 1,385 Other (2) 2,564 6 (1 ) 2,569 Total held-to-maturity securities 100,420 3,679 (22 ) 104,077 Total $ 348,890 10,163 (1,970 ) 357,083 December 31, 2015 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ 36,374 24 (148 ) 36,250 Securities of U.S. states and political subdivisions 49,167 1,325 (502 ) 49,990 Mortgage-backed securities: Federal agencies 103,391 1,983 (828 ) 104,546 Residential 7,843 740 (25 ) 8,558 Commercial 13,943 230 (85 ) 14,088 Total mortgage-backed securities 125,177 2,953 (938 ) 127,192 Corporate debt securities 15,548 312 (449 ) 15,411 Collateralized loan and other debt obligations (1) 31,210 125 (368 ) 30,967 Other (2) 5,842 115 (46 ) 5,911 Total debt securities 263,318 4,854 (2,451 ) 265,721 Marketable equity securities: Perpetual preferred securities 819 112 (13 ) 918 Other marketable equity securities 239 482 (2 ) 719 Total marketable equity securities 1,058 594 (15 ) 1,637 Total available-for-sale securities 264,376 5,448 (2,466 ) 267,358 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies 44,660 580 (73 ) 45,167 Securities of U.S. states and political subdivisions 2,185 65 — 2,250 Federal agency mortgage-backed securities 28,604 131 (314 ) 28,421 Collateralized loan obligations 1,405 — (24 ) 1,381 Other (2) 3,343 8 (3 ) 3,348 Total held-to-maturity securities 80,197 784 (414 ) 80,567 Total $ 344,573 6,232 (2,880 ) 347,925 (1) The available-for-sale portfolio includes collateralized debt obligations (CDOs) with a cost basis and fair value of $713 million and $719 million , respectively, at June 30, 2016 , and $247 million and $257 million , respectively, at December 31, 2015 . (2) The “Other” category of available-for-sale securities largely includes asset-backed securities collateralized by credit cards, student loans, home equity loans and automobile leases or loans and cash. Included in the “Other” category of held-to-maturity securities are asset-backed securities collateralized by automobile leases or loans and cash with a cost basis and fair value of $1.5 billion each at June 30, 2016 , and $1.9 billion each at December 31, 2015 . 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 $1.1 billion each at June 30, 2016 , and $1.4 billion each at December 31, 2015 . |
Investment Securities Gross Unrealized Losses Over And Under 12 Months | Table 4.2 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. Table 4.2: Gross Unrealized Losses and Fair Value 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 June 30, 2016 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ — — — — — — Securities of U.S. states and political subdivisions (170 ) 12,054 (931 ) 13,194 (1,101 ) 25,248 Mortgage-backed securities: Federal agencies (4 ) 2,003 (41 ) 4,105 (45 ) 6,108 Residential (20 ) 1,855 (12 ) 492 (32 ) 2,347 Commercial (21 ) 2,478 (47 ) 2,157 (68 ) 4,635 Total mortgage-backed securities (45 ) 6,336 (100 ) 6,754 (145 ) 13,090 Corporate debt securities (63 ) 2,061 (199 ) 1,614 (262 ) 3,675 Collateralized loan and other debt obligations (219 ) 15,850 (163 ) 11,635 (382 ) 27,485 Other (20 ) 2,193 (35 ) 1,080 (55 ) 3,273 Total debt securities (517 ) 38,494 (1,428 ) 34,277 (1,945 ) 72,771 Marketable equity securities: Perpetual preferred securities — — (3 ) 65 (3 ) 65 Other marketable equity securities — — — — — — Total marketable equity securities — — (3 ) 65 (3 ) 65 Total available-for-sale securities (517 ) 38,494 (1,431 ) 34,342 (1,948 ) 72,836 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies — — — — — — Federal agency mortgage-backed securities — — — — — — Collateralized loan obligations (5 ) 150 (16 ) 1,181 (21 ) 1,331 Other (1 ) 865 — — (1 ) 865 Total held-to-maturity securities (6 ) 1,015 (16 ) 1,181 (22 ) 2,196 Total $ (523 ) 39,509 (1,447 ) 35,523 (1,970 ) 75,032 December 31, 2015 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ (148 ) 24,795 — — (148 ) 24,795 Securities of U.S. states and political subdivisions (26 ) 3,453 (476 ) 12,377 (502 ) 15,830 Mortgage-backed securities: Federal agencies (522 ) 36,329 (306 ) 9,888 (828 ) 46,217 Residential (20 ) 1,276 (5 ) 285 (25 ) 1,561 Commercial (32 ) 4,476 (53 ) 2,363 (85 ) 6,839 Total mortgage-backed securities (574 ) 42,081 (364 ) 12,536 (938 ) 54,617 Corporate debt securities (244 ) 4,941 (205 ) 1,057 (449 ) 5,998 Collateralized loan and other debt obligations (276 ) 22,214 (92 ) 4,844 (368 ) 27,058 Other (33 ) 2,768 (13 ) 425 (46 ) 3,193 Total debt securities (1,301 ) 100,252 (1,150 ) 31,239 (2,451 ) 131,491 Marketable equity securities: Perpetual preferred securities (1 ) 24 (12 ) 109 (13 ) 133 Other marketable equity securities (2 ) 40 — — (2 ) 40 Total marketable equity securities (3 ) 64 (12 ) 109 (15 ) 173 Total available-for-sale securities (1,304 ) 100,316 (1,162 ) 31,348 (2,466 ) 131,664 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies (73 ) 5,264 — — (73 ) 5,264 Federal agency mortgage-backed securities (314 ) 23,115 — — (314 ) 23,115 Collateralized loan obligations (20 ) 1,148 (4 ) 233 (24 ) 1,381 Other (3 ) 1,096 — — (3 ) 1,096 Total held-to-maturity securities (410 ) 30,623 (4 ) 233 (414 ) 30,856 Total $ (1,714 ) 130,939 (1,166 ) 31,581 (2,880 ) 162,520 |
Investment Securities Gross Unrealized Losses By Investment Grade | Table 4.3 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 $12 million and $3.4 billion , respectively, at June 30, 2016 , and $17 million and $3.7 billion , respectively, at December 31, 2015 . If an internal credit grade was not assigned, we categorized the security as non-investment grade. Table 4.3: Gross Unrealized Losses and Fair Value by Investment Grade Investment grade Non-investment grade (in millions) Gross unrealized losses Fair value Gross unrealized losses Fair value June 30, 2016 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ — — — — Securities of U.S. states and political subdivisions (1,056 ) 24,902 (45 ) 346 Mortgage-backed securities: Federal agencies (45 ) 6,108 — — Residential (15 ) 1,264 (17 ) 1,083 Commercial (29 ) 3,817 (39 ) 818 Total mortgage-backed securities (89 ) 11,189 (56 ) 1,901 Corporate debt securities (74 ) 1,780 (188 ) 1,895 Collateralized loan and other debt obligations (382 ) 27,485 — — Other (49 ) 2,717 (6 ) 556 Total debt securities (1,650 ) 68,073 (295 ) 4,698 Perpetual preferred securities (3 ) 65 — — Total available-for-sale securities (1,653 ) 68,138 (295 ) 4,698 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies — — — — Federal agency mortgage-backed securities — — — — Collateralized loan obligations (21 ) 1,331 — — Other (1 ) 865 — — Total held-to-maturity securities (22 ) 2,196 — — Total $ (1,675 ) 70,334 (295 ) 4,698 December 31, 2015 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ (148 ) 24,795 — — Securities of U.S. states and political subdivisions (464 ) 15,470 (38 ) 360 Mortgage-backed securities: Federal agencies (828 ) 46,217 — — Residential (12 ) 795 (13 ) 766 Commercial (59 ) 6,361 (26 ) 478 Total mortgage-backed securities (899 ) 53,373 (39 ) 1,244 Corporate debt securities (140 ) 4,167 (309 ) 1,831 Collateralized loan and other debt obligations (368 ) 27,058 — — Other (43 ) 2,915 (3 ) 278 Total debt securities (2,062 ) 127,778 (389 ) 3,713 Perpetual preferred securities (13 ) 133 — — Total available-for-sale securities (2,075 ) 127,911 (389 ) 3,713 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies (73 ) 5,264 — — Federal agency mortgage-backed securities (314 ) 23,115 — — Collateralized loan obligations (24 ) 1,381 — — Other (3 ) 1,096 — — Total held-to-maturity securities (414 ) 30,856 — — Total $ (2,489 ) 158,767 (389 ) 3,713 |
Debt Securities Contractual Maturities | Table 4.4 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. Table 4.4: Contractual Maturities 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 June 30, 2016 Available-for-sale debt securities (1): Securities of U.S. Treasury and federal agencies $ 27,939 1.44 % $ 123 1.64 % $ 27,690 1.43 % $ 126 1.88 % $ — — % Securities of U.S. states and political subdivisions 54,024 5.90 1,439 2.06 8,657 2.33 2,812 5.50 41,116 6.81 Mortgage-backed securities: Federal agencies 95,868 3.20 — — 135 2.61 2,374 3.50 93,359 3.19 Residential 8,271 4.00 — — 30 5.18 39 4.23 8,202 3.99 Commercial 11,667 4.96 — — — — — — 11,667 4.96 Total mortgage-backed securities 115,806 3.44 — — 165 3.09 2,413 3.51 113,228 3.44 Corporate debt securities 13,380 4.76 2,953 3.27 4,313 5.47 4,868 4.85 1,246 5.45 Collateralized loan and other debt obligations 34,281 2.41 1 0.98 695 1.14 16,158 2.36 17,427 2.50 Other 6,274 2.04 48 3.06 1,056 2.40 1,116 1.91 4,054 1.98 Total available-for-sale debt securities at fair value $ 251,704 3.64 % $ 4,564 2.84 % $ 42,576 2.05 % $ 27,493 3.20 % $ 177,071 4.11 % December 31, 2015 Available-for-sale debt securities (1): ` Securities of U.S. Treasury and federal agencies $ 36,250 1.49 % $ 216 0.77 % $ 31,602 1.44 % $ 4,432 1.86 % $ — — % Securities of U.S. states and political subdivisions 49,990 5.82 1,969 2.09 7,709 2.02 3,010 5.25 37,302 6.85 Mortgage-backed securities: Federal agencies 104,546 3.29 3 6.55 373 1.58 1,735 3.84 102,435 3.29 Residential 8,558 4.17 — — 34 5.11 34 6.03 8,490 4.16 Commercial 14,088 5.06 — — 61 2.79 — — 14,027 5.07 Total mortgage-backed securities 127,192 3.54 3 6.55 468 1.99 1,769 3.88 124,952 3.55 Corporate debt securities 15,411 4.57 1,960 3.84 6,731 4.47 5,459 4.76 1,261 5.47 Collateralized loan and other debt obligations 30,967 2.08 2 0.33 804 0.90 12,707 2.01 17,454 2.19 Other 5,911 2.05 68 2.47 1,228 2.57 953 1.94 3,662 1.89 Total available-for-sale debt securities at fair value $ 265,721 3.55 % $ 4,218 2.84 % $ 48,542 1.98 % $ 28,330 2.98 % $ 184,631 4.07 % (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. Table 4.5 shows the amortized cost and weighted-average yields of held-to-maturity debt securities by contractual maturity. Table 4.5: Amortized Cost 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 June 30, 2016 Held-to-maturity securities (1): Amortized cost: Securities of U.S. Treasury and federal agencies $ 44,675 2.12 % $ — — % $ 20,911 2.08 % $ 23,764 2.15 % $ — — % Securities of U.S. states and political subdivisions 2,181 5.97 — — — — 119 7.53 2,062 5.88 Federal agency mortgage-backed securities 49,594 3.25 — — — — — — 49,594 3.25 Collateralized loan obligations 1,406 2.36 — — — — 239 2.28 1,167 2.37 Other 2,564 1.59 — — 1,916 1.65 648 1.42 — — Total held-to-maturity debt securities at amortized cost $ 100,420 2.75 % $ — — % $ 22,827 2.04 % $ 24,770 2.16 % $ 52,823 3.33 % December 31, 2015 Held-to-maturity securities (1): Amortized cost: Securities of U.S. Treasury and federal agencies $ 44,660 2.12 % $ — — % $ 1,276 1.75 % $ 43,384 2.13 % $ — — % Securities of U.S. states and political subdivisions 2,185 5.97 — — — — 104 7.49 2,081 5.89 Federal agency mortgage-backed securities 28,604 3.47 — — — — — — 28,604 3.47 Collateralized loan obligations 1,405 2.03 — — — — — — 1,405 2.03 Other 3,343 1.68 — — 2,351 1.74 992 1.53 — — Total held-to-maturity debt securities at amortized cost $ 80,197 2.69 % $ — — % $ 3,627 1.74 % $ 44,480 2.13 % $ 32,090 3.57 % (1) Weighted-average yields displayed by maturity bucket are weighted based on amortized cost and predominantly represent contractual coupon rates. Table 4.6 shows the fair value of held-to-maturity debt securities by contractual maturity. Table 4.6: Fair Value 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 June 30, 2016 Held-to-maturity securities: Fair value: Securities of U.S. Treasury and federal agencies $ 47,317 — 22,089 25,228 — Securities of U.S. states and political subdivisions 2,332 — — 125 2,207 Federal agency mortgage-backed securities 50,474 — — — 50,474 Collateralized loan obligations 1,385 — — 238 1,147 Other 2,569 — 1,919 650 — Total held-to-maturity debt securities at fair value $ 104,077 — 24,008 26,241 53,828 December 31, 2015 Held-to-maturity securities: Fair value: Securities of U.S. Treasury and federal agencies $ 45,167 — 1,298 43,869 — Securities of U.S. states and political subdivisions 2,250 — — 105 2,145 Federal agency mortgage-backed securities 28,421 — — — 28,421 Collateralized loan obligations 1,381 — — — 1,381 Other 3,348 — 2,353 995 — Total held-to-maturity debt securities at fair value $ 80,567 — 3,651 44,969 31,947 |
Investment Securities Realized Gains And Losses | Table 4.7 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)). Table 4.7: Realized Gains and Losses Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Gross realized gains $ 564 255 949 603 Gross realized losses (31 ) (15 ) (44 ) (35 ) OTTI write-downs (26 ) (21 ) (95 ) (52 ) Net realized gains from available-for-sale securities 507 219 810 516 Net realized gains from nonmarketable equity investments 129 479 314 830 Net realized gains from debt securities and equity investments $ 636 698 1,124 1,346 |
Investment Securities And Nonmarketable Equity Securities Other Than Temporary Impairment | Table 4.8 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 half of 2016 and 2015 . Table 4.8: OTTI Write-downs Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 OTTI write-downs included in earnings Debt securities: Securities of U.S. states and political subdivisions $ 6 — 10 16 Mortgage-backed securities: Residential 12 19 24 34 Commercial — — 1 — Corporate debt securities 5 1 50 1 Other debt securities 3 — 6 — Total debt securities 26 20 91 51 Equity securities: Marketable equity securities: Other marketable equity securities — 1 4 1 Total marketable equity securities — 1 4 1 Total investment securities (1) 26 21 95 52 Nonmarketable equity investments (1) 104 75 233 117 Total OTTI write-downs included in earnings (1) $ 130 96 328 169 (1) The quarter ended June 30, 2016 , includes $29 million in OTTI write-downs of oil and gas investments, of which $5 million related to investment securities and $24 million related to nonmarketable equity investments. Oil and gas related OTTI for the first half of 2016 totaled $153 million , of which $51 million related to investment securities and $102 million related to nonmarketable equity investments. |
Debt Securities Other Than Temporary Impairment | Table 4.9 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. Table 4.9: OTTI Write-downs Included in Earnings Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 OTTI on debt securities Recorded as part of gross realized losses: Credit-related OTTI $ 20 19 81 39 Intent-to-sell OTTI 6 1 10 12 Total recorded as part of gross realized losses 26 20 91 51 Changes to OCI for losses (reversal of losses) in non-credit-related OTTI (1): Securities of U.S. states and political subdivisions — — — (1 ) Residential mortgage-backed securities (5 ) (10 ) 5 (31 ) Commercial mortgage-backed securities (1 ) — 2 (15 ) Corporate debt securities (9 ) — (13 ) — Other debt securities — — 2 — Total changes to OCI for non-credit-related OTTI (15 ) (10 ) (4 ) (47 ) Total OTTI losses recorded on debt securities $ 11 10 87 4 (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 | Table 4.10 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. Table 4.10: Rollforward of OTTI Credit Loss Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Credit loss recognized, beginning of period $ 1,145 1,029 1,092 1,025 Additions: For securities with initial credit impairments — — 38 — For securities with previous credit impairments 20 19 43 39 Total additions 20 19 81 39 Reductions: For securities sold, matured, or intended/required to be sold (83 ) (52 ) (89 ) (66 ) For recoveries of previous credit impairments (1) (2 ) (3 ) (4 ) (5 ) Total reductions (85 ) (55 ) (93 ) (71 ) Credit loss recognized, end of period $ 1,080 993 1,080 993 (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) | 6 Months Ended |
Jun. 30, 2016 | |
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |
Loans and Allowance for Credit Losses, Loans Outstanding | Table 5.1 presents total loans outstanding by portfolio segment and class of financing receivable. Outstanding balances include a total net reduction of $4.8 billion and $3.8 billion at June 30, 2016 , and December 31, 2015 , respectively, for unearned income, net deferred loan fees, and unamortized discounts and premiums. Outstanding balances at June 30, 2016 also reflect the acquisition of various loans and capital leases from GE Capital as described in Note 2 (Business Combinations). Table 5.1: Loans Outstanding (in millions) Jun 30, Dec 31, Commercial: Commercial and industrial $ 323,858 299,892 Real estate mortgage 128,320 122,160 Real estate construction 23,387 22,164 Lease financing 18,973 12,367 Total commercial 494,538 456,583 Consumer: Real estate 1-4 family first mortgage 277,162 273,869 Real estate 1-4 family junior lien mortgage 49,772 53,004 Credit card 34,137 34,039 Automobile 61,939 59,966 Other revolving credit and installment 39,609 39,098 Total consumer 462,619 459,976 Total loans $ 957,157 916,559 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. Table 5.2 presents total commercial foreign loans outstanding by class of financing receivable. Table 5.2: Commercial Foreign Loans Outstanding (in millions) Jun 30, Dec 31, Commercial foreign loans: Commercial and industrial $ 50,515 49,049 Real estate mortgage 8,467 8,350 Real estate construction 246 444 Lease financing 987 274 Total commercial foreign loans $ 60,215 58,117 |
Loans and Allowance for Credit Losses, Significant Activity | Table 5.3 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 also includes participating interests, whereby we receive or transfer a portion of a loan. The table excludes PCI loans and loans for which we have elected the fair value option, including loans originated for sale because their loan activity normally does not impact the allowance for credit losses. Table 5.3: Loan Purchases, Sales, and Transfers 2016 2015 (in millions) Commercial (1) Consumer (2) Total Commercial Consumer (2) Total Quarter ended June 30, Purchases $ 2,607 — 2,607 9,739 311 10,050 Sales (385 ) (407 ) (792 ) (157 ) (1 ) (158 ) Transfers to MHFS/LHFS (69 ) (1 ) (70 ) (45 ) (5 ) (50 ) Six months ended June 30, Purchases $ 27,253 — 27,253 10,830 311 11,141 Sales (608 ) (679 ) (1,287 ) (363 ) (30 ) (393 ) Transfers to MHFS/LHFS (101 ) (4 ) (105 ) (52 ) (7 ) (59 ) (1) Purchases include loans and capital leases from the GE Capital acquisitions as described in Note 2 (Business Combinations). (2) Excludes 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, and manage and/or resell them in accordance with applicable requirements. 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. |
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 Table 5.4 . The table excludes the standby and commercial letters of credit and temporary advance arrangements described above. Table 5.4: Unfunded Credit Commitments (in millions) Jun 30, Dec 31, Commercial: Commercial and industrial $ 303,407 296,710 Real estate mortgage 7,595 7,378 Real estate construction 19,290 18,047 Total commercial 330,292 322,135 Consumer: Real estate 1-4 family first mortgage 39,392 34,621 Real estate 1-4 family junior lien mortgage 42,589 43,309 Credit card 102,932 98,904 Other revolving credit and installment 27,869 27,899 Total consumer 212,782 204,733 Total unfunded credit commitments $ 543,074 526,868 |
Loans and Allowance for Credit Losses, Allowance for Credit Losses | Table 5.5 presents the allowance for credit losses, which consists of the allowance for loan losses and the allowance for unfunded credit commitments. Table 5.5: Allowance for Credit Losses Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Balance, beginning of period $ 12,668 13,013 12,512 13,169 Provision for credit losses 1,074 300 2,160 908 Interest income on certain impaired loans (1) (51 ) (50 ) (99 ) (102 ) Loan charge-offs: Commercial: Commercial and industrial (437 ) (154 ) (786 ) (287 ) Real estate mortgage (3 ) (16 ) (6 ) (39 ) Real estate construction (1 ) (1 ) (1 ) (2 ) Lease financing (17 ) (3 ) (21 ) (6 ) Total commercial (458 ) (174 ) (814 ) (334 ) Consumer: Real estate 1-4 family first mortgage (123 ) (119 ) (260 ) (249 ) Real estate 1-4 family junior lien mortgage (133 ) (163 ) (266 ) (342 ) Credit card (320 ) (284 ) (634 ) (562 ) Automobile (176 ) (150 ) (387 ) (345 ) Other revolving credit and installment (163 ) (151 ) (338 ) (305 ) Total consumer (915 ) (867 ) (1,885 ) (1,803 ) Total loan charge-offs (1,373 ) (1,041 ) (2,699 ) (2,137 ) Loan recoveries: Commercial: Commercial and industrial 69 73 145 142 Real estate mortgage 23 31 55 65 Real estate construction 4 7 12 17 Lease financing 5 1 8 4 Total commercial 101 112 220 228 Consumer: Real estate 1-4 family first mortgage 109 52 198 99 Real estate 1-4 family junior lien mortgage 71 69 130 125 Credit card 50 41 102 80 Automobile 86 82 170 176 Other revolving credit and installment 32 35 69 71 Total consumer 348 279 669 551 Total loan recoveries 449 391 889 779 Net loan charge-offs (924 ) (650 ) (1,810 ) (1,358 ) Other (18 ) 1 (14 ) (3 ) Balance, end of period $ 12,749 12,614 12,749 12,614 Components: Allowance for loan losses $ 11,664 11,754 11,664 11,754 Allowance for unfunded credit commitments 1,085 860 1,085 860 Allowance for credit losses $ 12,749 12,614 12,749 12,614 Net loan charge-offs (annualized) as a percentage of average total loans 0.39 % 0.30 0.39 0.32 Allowance for loan losses as a percentage of total loans 1.22 1.32 1.22 1.32 Allowance for credit losses as a percentage of total loans 1.33 1.42 1.33 1.42 (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. |
Loans and Allowance for Credit Losses, Allowance for Credit Losses by Category | Table 5.6 summarizes the activity in the allowance for credit losses by our commercial and consumer portfolio segments. Table 5.6: Allowance Activity by Portfolio Segment 2016 2015 (in millions) Commercial Consumer Total Commercial Consumer Total Quarter ended June 30, Balance, beginning of period $ 7,348 5,320 12,668 6,333 6,680 13,013 Provision for credit losses 478 596 1,074 11 289 300 Interest income on certain impaired loans (10 ) (41 ) (51 ) (4 ) (46 ) (50 ) Loan charge-offs (458 ) (915 ) (1,373 ) (174 ) (867 ) (1,041 ) Loan recoveries 101 348 449 112 279 391 Net loan charge-offs (357 ) (567 ) (924 ) (62 ) (588 ) (650 ) Other (18 ) — (18 ) 1 — 1 Balance, end of period $ 7,441 5,308 12,749 6,279 6,335 12,614 Six months ended June 30, Balance, beginning of period $ 6,872 5,640 12,512 6,377 6,792 13,169 Provision for credit losses 1,192 968 2,160 20 888 908 Interest income on certain impaired loans (15 ) (84 ) (99 ) (9 ) (93 ) (102 ) Loan charge-offs (814 ) (1,885 ) (2,699 ) (334 ) (1,803 ) (2,137 ) Loan recoveries 220 669 889 228 551 779 Net loan charge-offs (594 ) (1,216 ) (1,810 ) (106 ) (1,252 ) (1,358 ) Other (14 ) — (14 ) (3 ) — (3 ) Balance, end of period $ 7,441 5,308 12,749 6,279 6,335 12,614 |
Loans and Allowance for Credit Losses, by Impairment Methodology | Table 5.7 disaggregates our allowance for credit losses and recorded investment in loans by impairment methodology. Table 5.7: Allowance by Impairment Methodology Allowance for credit losses Recorded investment in loans (in millions) Commercial Consumer Total Commercial Consumer Total June 30, 2016 Collectively evaluated (1) $ 6,233 3,450 9,683 487,062 426,302 913,364 Individually evaluated (2) 1,206 1,858 3,064 5,880 18,576 24,456 PCI (3) 2 — 2 1,596 17,741 19,337 Total $ 7,441 5,308 12,749 494,538 462,619 957,157 December 31, 2015 Collectively evaluated (1) $ 5,999 3,436 9,435 452,063 420,705 872,768 Individually evaluated (2) 872 2,204 3,076 3,808 20,012 23,820 PCI (3) 1 — 1 712 19,259 19,971 Total $ 6,872 5,640 12,512 456,583 459,976 916,559 (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 and Allowance for Credit Losses, Loans by Credit Quality Indicator | Table 5.8 provides a breakdown of outstanding commercial loans by risk category. Of the $25.7 billion in criticized commercial and industrial loans and $6.3 billion in criticized commercial real estate (CRE) loans at June 30, 2016 , $3.5 billion and $931 million , respectively, have been placed on nonaccrual status and written down to net realizable collateral value. Table 5.8: Commercial Loans by Risk Category (in millions) Commercial and industrial Real estate mortgage Real estate construction Lease financing Total June 30, 2016 By risk category: Pass $ 297,032 122,078 22,817 17,331 459,258 Criticized 25,746 5,796 500 1,642 33,684 Total commercial loans (excluding PCI) 322,778 127,874 23,317 18,973 492,942 Total commercial PCI loans (carrying value) 1,080 446 70 — 1,596 Total commercial loans $ 323,858 128,320 23,387 18,973 494,538 December 31, 2015 By risk category: Pass $ 281,356 115,025 21,546 11,772 429,699 Criticized 18,458 6,593 526 595 26,172 Total commercial loans (excluding PCI) 299,814 121,618 22,072 12,367 455,871 Total commercial PCI loans (carrying value) 78 542 92 — 712 Total commercial loans $ 299,892 122,160 22,164 12,367 456,583 |
Loans and Allowance for Credit Losses, Loans by Delinquency Status, Commercial | Table 5.9 provides past due information for commercial loans, which we monitor as part of our credit risk management practices. Table 5.9: Commercial Loans by Delinquency Status (in millions) Commercial and industrial Real estate mortgage Real estate construction Lease financing Total June 30, 2016 By delinquency status: Current-29 days past due (DPD) and still accruing $ 318,731 126,792 23,140 18,736 487,399 30-89 DPD and still accruing 547 188 118 125 978 90+ DPD and still accruing 36 22 — — 58 Nonaccrual loans 3,464 872 59 112 4,507 Total commercial loans (excluding PCI) 322,778 127,874 23,317 18,973 492,942 Total commercial PCI loans (carrying value) 1,080 446 70 — 1,596 Total commercial loans $ 323,858 128,320 23,387 18,973 494,538 December 31, 2015 By delinquency status: Current-29 DPD and still accruing $ 297,847 120,415 21,920 12,313 452,495 30-89 DPD and still accruing 507 221 82 28 838 90+ DPD and still accruing 97 13 4 — 114 Nonaccrual loans 1,363 969 66 26 2,424 Total commercial loans (excluding PCI) 299,814 121,618 22,072 12,367 455,871 Total commercial PCI loans (carrying value) 78 542 92 — 712 Total commercial loans $ 299,892 122,160 22,164 12,367 456,583 |
Loans and Allowance for Credit Losses, Loans by Delinquency Status, Consumer | Table 5.10 provides the outstanding balances of our consumer portfolio by delinquency status. Table 5.10: Consumer Loans 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 June 30, 2016 By delinquency status: Current-29 DPD $ 233,153 48,712 33,403 60,697 39,257 415,222 30-59 DPD 1,916 298 227 947 133 3,521 60-89 DPD 746 163 159 223 97 1,388 90-119 DPD 317 91 123 68 80 679 120-179 DPD 341 109 224 4 21 699 180+ DPD 2,419 348 1 — 21 2,789 Government insured/guaranteed loans (1) 20,580 — — — — 20,580 Total consumer loans (excluding PCI) 259,472 49,721 34,137 61,939 39,609 444,878 Total consumer PCI loans (carrying value) 17,690 51 — — — 17,741 Total consumer loans $ 277,162 49,772 34,137 61,939 39,609 462,619 December 31, 2015 By delinquency status: Current-29 DPD $ 225,195 51,778 33,208 58,503 38,690 407,374 30-59 DPD 2,072 325 257 1,121 175 3,950 60-89 DPD 821 184 177 253 107 1,542 90-119 DPD 402 110 150 84 86 832 120-179 DPD 460 145 246 4 21 876 180+ DPD 3,376 393 1 1 19 3,790 Government insured/guaranteed loans (1) 22,353 — — — — 22,353 Total consumer loans (excluding PCI) 254,679 52,935 34,039 59,966 39,098 440,717 Total consumer PCI loans (carrying value) 19,190 69 — — — 19,259 Total consumer loans $ 273,869 53,004 34,039 59,966 39,098 459,976 (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 $10.8 billion at June 30, 2016 , compared with $12.4 billion at December 31, 2015 . |
Loans and Allowance for Credit Losses, Loans by FICO Score, Consumer | Table 5.11 provides a breakdown of our consumer portfolio by FICO. Most 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, substantially all of which are security-based loans originated through retail brokerage of $7.5 billion at June 30, 2016 , and $7.0 billion at December 31, 2015 . Table 5.11: Consumer Loans by FICO (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 June 30, 2016 By FICO: < 600 $ 7,842 2,614 3,048 9,782 943 24,229 600-639 6,253 2,184 2,893 6,999 1,056 19,385 640-679 12,538 4,127 5,326 10,335 2,378 34,704 680-719 24,250 7,147 6,937 11,188 4,367 53,889 720-759 38,140 10,360 7,201 8,528 5,987 70,216 760-799 99,093 15,752 5,836 7,923 8,260 136,864 800+ 46,613 6,782 2,792 6,747 6,565 69,499 No FICO available 4,163 755 104 437 2,521 7,980 FICO not required — — — — 7,532 7,532 Government insured/guaranteed loans (1) 20,580 — — — — 20,580 Total consumer loans (excluding PCI) 259,472 49,721 34,137 61,939 39,609 444,878 Total consumer PCI loans (carrying value) 17,690 51 — — — 17,741 Total consumer loans $ 277,162 49,772 34,137 61,939 39,609 462,619 December 31, 2015 By FICO: < 600 $ 8,716 3,025 2,927 9,260 965 24,893 600-639 6,961 2,367 2,875 6,619 1,086 19,908 640-679 13,006 4,613 5,354 10,014 2,416 35,403 680-719 24,460 7,863 6,857 10,947 4,388 54,515 720-759 38,309 10,966 7,017 8,279 6,010 70,581 760-799 92,975 16,369 5,693 7,761 8,351 131,149 800+ 44,452 6,895 3,090 6,654 6,510 67,601 No FICO available 3,447 837 226 432 2,395 7,337 FICO not required — — — — 6,977 6,977 Government insured/guaranteed loans (1) 22,353 — — — — 22,353 Total consumer loans (excluding PCI) 254,679 52,935 34,039 59,966 39,098 440,717 Total consumer PCI loans (carrying value) 19,190 69 — — — 19,259 Total consumer loans $ 273,869 53,004 34,039 59,966 39,098 459,976 (1) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. |
Loans and Allowance for Credit Losses, Loans by Loan to Value Ratio, Consumer | Table 5.12 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 due to industry data availability and portfolios acquired from or serviced by other institutions. Table 5.12: Consumer Loans by LTV/CLTV June 30, 2016 December 31, 2015 (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% $ 114,333 16,043 130,376 109,558 15,805 125,363 60.01-80% 94,888 15,864 110,752 92,005 16,579 108,584 80.01-100% 23,065 10,217 33,282 22,765 11,385 34,150 100.01-120% (1) 3,603 4,673 8,276 4,480 5,545 10,025 > 120% (1) 1,607 2,397 4,004 2,065 3,051 5,116 No LTV/CLTV available 1,396 527 1,923 1,453 570 2,023 Government insured/guaranteed loans (2) 20,580 — 20,580 22,353 — 22,353 Total consumer loans (excluding PCI) 259,472 49,721 309,193 254,679 52,935 307,614 Total consumer PCI loans (carrying value) 17,690 51 17,741 19,190 69 19,259 Total consumer loans $ 277,162 49,772 326,934 273,869 53,004 326,873 (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. |
Loans and Allowance for Credit Losses, Nonaccrual Loans | Table 5.13 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. Table 5.13: Nonaccrual Loans (in millions) Jun 30, Dec 31, Commercial: Commercial and industrial $ 3,464 1,363 Real estate mortgage 872 969 Real estate construction 59 66 Lease financing 112 26 Total commercial 4,507 2,424 Consumer: Real estate 1-4 family first mortgage (1) 5,970 7,293 Real estate 1-4 family junior lien mortgage 1,330 1,495 Automobile 111 121 Other revolving credit and installment 45 49 Total consumer 7,456 8,958 Total nonaccrual loans (excluding PCI) $ 11,963 11,382 (1) Includes MHFS of $155 million and $177 million at June 30, 2016 , and December 31, 2015 , respectively. |
Loans and Allowance for Credit Losses, 90 days or More Past Due and Still Accruing Loans | Table 5.14 shows non-PCI loans 90 days or more past due and still accruing by class for loans not government insured/guaranteed. Table 5.14: Loans 90 Days or More Past Due and Still Accruing (in millions) Jun 30, 2016 Dec 31, 2015 Loans 90 days or more past due and still accruing: Total (excluding PCI): $ 12,385 14,380 Less: FHA insured/guaranteed by the VA (1)(2) 11,577 13,373 Less: Student loans guaranteed under the FFELP (3) 20 26 Total, not government insured/guaranteed $ 788 981 By segment and class, not government insured/guaranteed: Commercial: Commercial and industrial $ 36 97 Real estate mortgage 22 13 Real estate construction — 4 Total commercial 58 114 Consumer: Real estate 1-4 family first mortgage (2) 169 224 Real estate 1-4 family junior lien mortgage (2) 52 65 Credit card 348 397 Automobile 64 79 Other revolving credit and installment 97 102 Total consumer 730 867 Total, not government insured/guaranteed $ 788 981 (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. |
Loans and Allowance for Credit Losses, Impaired Loans | Table 5.15 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. Table 5.15 includes trial modifications that totaled $364 million at June 30, 2016 , and $402 million at December 31, 2015 . For additional information on our impaired loans and allowance for credit losses, see Note 1 (Summary of Significant Accounting Policies) in our 2015 Form 10-K. Table 5.15: Impaired Loans Summary Recorded investment (in millions) Unpaid principal balance (1) Impaired loans Impaired loans with related allowance for credit losses Related allowance for credit losses June 30, 2016 Commercial: Commercial and industrial $ 5,270 3,977 3,766 846 Real estate mortgage 2,141 1,681 1,669 310 Real estate construction 210 112 98 23 Lease financing 129 110 110 27 Total commercial 7,750 5,880 5,643 1,206 Consumer: Real estate 1-4 family first mortgage 17,975 15,799 10,426 1,335 Real estate 1-4 family junior lien mortgage 2,567 2,306 1,757 409 Credit card 291 291 291 94 Automobile 157 92 34 5 Other revolving credit and installment 95 88 80 15 Total consumer (2) 21,085 18,576 12,588 1,858 Total impaired loans (excluding PCI) $ 28,835 24,456 18,231 3,064 December 31, 2015 Commercial: Commercial and industrial $ 2,746 1,835 1,648 435 Real estate mortgage 2,369 1,815 1,773 405 Real estate construction 262 131 112 23 Lease financing 38 27 27 9 Total commercial 5,415 3,808 3,560 872 Consumer: Real estate 1-4 family first mortgage 19,626 17,121 11,057 1,643 Real estate 1-4 family junior lien mortgage 2,704 2,408 1,859 447 Credit card 299 299 299 94 Automobile 173 105 41 5 Other revolving credit and installment 86 79 71 15 Total consumer (2) 22,888 20,012 13,327 2,204 Total impaired loans (excluding PCI) $ 28,303 23,820 16,887 3,076 (1) Excludes the unpaid principal balance for loans that have been fully charged off or otherwise have zero recorded investment. (2) Periods ended June 30, 2016 and December 31, 2015 include the recorded investment of $1.7 billion and $1.8 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. |
Loans and Allowance for Credit Losses, Average Recorded Investment in Impaired Loans | Table 5.16 provides the average recorded investment in impaired loans and the amount of interest income recognized on impaired loans by portfolio segment and class. Table 5.16: Average Recorded Investment in Impaired Loans Quarter ended June 30, Six months ended June 30, 2016 2015 2016 2015 (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 $ 3,803 21 1,109 23 3,146 40 1,050 43 Real estate mortgage 1,695 34 2,280 31 1,730 66 2,331 74 Real estate construction 116 3 264 11 122 5 284 15 Lease financing 93 — 23 — 79 — 22 — Total commercial 5,707 58 3,676 65 5,077 111 3,687 132 Consumer: Real estate 1-4 family first mortgage 16,278 211 18,161 235 16,595 432 18,321 466 Real estate 1-4 family junior lien mortgage 2,325 33 2,507 34 2,354 67 2,514 69 Credit card 293 8 321 10 295 17 326 20 Automobile 94 3 118 4 98 6 121 8 Other revolving credit and installment 84 2 57 1 80 3 54 2 Total consumer 19,074 257 21,164 284 19,422 525 21,336 565 Total impaired loans (excluding PCI) $ 24,781 315 24,840 349 24,499 636 25,023 697 Interest income: Cash basis of accounting $ 92 111 187 219 Other (1) 223 238 449 478 Total interest income $ 315 349 636 697 (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. |
Loans and Allowance for Credit Losses, Troubled Debt Restructurings, Modification by Type | Table 5.17 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 pay off 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. Table 5.17: TDR Modifications Primary modification type (1) Financial effects of modifications (in millions) Principal (2) Interest Other Total Charge- Weighted Recorded Quarter ended June 30, 2016 Commercial: Commercial and industrial $ — 35 697 732 137 2.29 % $ 35 Real estate mortgage — 29 135 164 — 1.30 28 Real estate construction — 14 18 32 — 1.05 14 Lease financing — — — — — — — Total commercial — 78 850 928 137 1.70 77 Consumer: Real estate 1-4 family first mortgage 92 78 314 484 12 2.63 138 Real estate 1-4 family junior lien mortgage 6 27 33 66 11 3.11 33 Credit card — 41 — 41 — 11.98 41 Automobile 1 3 14 18 8 6.40 3 Other revolving credit and installment — 8 2 10 — 6.99 8 Trial modifications (6) — — 17 17 — — — Total consumer 99 157 380 636 31 4.64 223 Total $ 99 235 1,230 1,564 168 3.88 % $ 300 Quarter ended June 30, 2015 Commercial: Commercial and industrial $ — 5 425 430 — 0.96 % $ 5 Real estate mortgage 4 49 271 324 — 1.73 49 Real estate construction — 2 13 15 — 0.86 2 Lease financing — — — — — — — Total commercial 4 56 709 769 — 1.62 56 Consumer: Real estate 1-4 family first mortgage 78 88 425 591 12 2.62 155 Real estate 1-4 family junior lien mortgage 10 21 39 70 8 3.21 28 Credit card — 39 — 39 — 11.33 40 Automobile — 1 17 18 7 9.00 1 Other revolving credit and installment — 8 2 10 1 5.88 8 Trial modifications (6) — — 46 46 — — — Total consumer 88 157 529 774 28 4.31 232 Total $ 92 213 1,238 1,543 28 3.79 % $ 288 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) Six months ended June 30, 2016 Commercial: Commercial and industrial $ 42 113 1,329 1,484 243 2.02 % $ 113 Real estate mortgage — 53 294 347 — 1.22 52 Real estate construction — 14 62 76 — 1.05 14 Lease financing — — 4 4 — — — Total commercial 42 180 1,689 1,911 243 1.71 179 Consumer: Real estate 1-4 family first mortgage 188 143 764 1,095 25 2.72 257 Real estate 1-4 family junior lien mortgage 12 56 60 128 21 3.01 67 Credit card — 85 — 85 — 11.96 85 Automobile 1 7 29 37 16 6.47 7 Other revolving credit and installment — 16 5 21 1 6.53 16 Trial modifications (6) — — 32 32 — — — Total consumer 201 307 890 1,398 63 4.79 432 Total $ 243 487 2,579 3,309 306 3.88 % $ 611 Six months ended June 30, 2015 Commercial: Commercial and industrial $ — 15 649 664 2 0.83 % $ 15 Real estate mortgage 4 70 580 654 1 1.61 70 Real estate construction 11 3 57 71 — 0.62 3 Lease financing — — — — — — — Total commercial 15 88 1,286 1,389 3 1.45 88 Consumer: Real estate 1-4 family first mortgage 182 171 941 1,294 27 2.54 320 Real estate 1-4 family junior lien mortgage 17 41 90 148 20 3.20 55 Credit card — 84 — 84 — 11.31 84 Automobile 1 2 44 47 17 9.03 2 Other revolving credit and installment — 13 4 17 1 5.85 13 Trial modifications (6) — — 44 44 — — — Total consumer 200 311 1,123 1,634 65 4.29 474 Total $ 215 399 2,409 3,023 68 3.84 % $ 562 (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 $301 million and $566 million , for quarters ended June 30, 2016 and 2015 , and $649 million and $1.1 billion for the first half of 2016 and 2015 , 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 $19 million and $20 million for the quarters ended June 30, 2016 and 2015 , and $38 million and $46 million for the first half of 2016 and 2015 , 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. |
Loans and Allowance for Credit Losses, Troubled Debt Restructuring, Current Defaults | Table 5.18 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. Table 5.18: Defaulted TDRs Recorded investment of defaults Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Commercial: Commercial and industrial $ 20 38 45 46 Real estate mortgage 31 49 51 72 Real estate construction 1 1 3 2 Total commercial 52 88 99 120 Consumer: Real estate 1-4 family first mortgage 30 42 61 94 Real estate 1-4 family junior lien mortgage 4 4 9 8 Credit card 13 14 26 27 Automobile 3 3 6 6 Other revolving credit and installment 1 1 2 2 Total consumer 51 64 104 137 Total $ 103 152 203 257 |
Loans and Allowance for Credit Losses, Purchased Credit Impaired Loans, Loans Outstanding | Table 5.19 presents PCI loans net of any remaining purchase accounting adjustments. Commercial and industrial PCI loans at June 30, 2016 , included $1.0 billion from the GE Capital acquisitions. Real estate 1-4 family first mortgage PCI loans are predominantly Pick-a-Pay loans. Table 5.19: PCI Loans (in millions) Jun 30, Dec 31, Commercial: Commercial and industrial $ 1,080 78 Real estate mortgage 446 542 Real estate construction 70 92 Total commercial 1,596 712 Consumer: Real estate 1-4 family first mortgage 17,690 19,190 Real estate 1-4 family junior lien mortgage 51 69 Total consumer 17,741 19,259 Total PCI loans (carrying value) $ 19,337 19,971 Total PCI loans (unpaid principal balance) $ 27,391 28,278 |
Loans and Allowance for Credit Losses, Purchased Credit Impaired Loans, Accretable Yield | The change in the accretable yield related to PCI loans is presented in Table 5.20 . Table 5.20: Change in Accretable Yield (in millions) Quarter ended June 30, 2016 Six months ended June 30, 2016 Balance, beginning of period $ 15,978 16,301 Addition of accretable yield due to acquisitions 70 69 Accretion into interest income (1) (329 ) (668 ) Accretion into noninterest income due to sales (2) — (9 ) Reclassification from nonaccretable difference for loans with improving credit-related cash flows 24 58 Changes in expected cash flows that do not affect nonaccretable difference (3) (16 ) (24 ) Balance, end of period $ 15,727 15,727 (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. |
Loans and Allowance for Credit Losses, Purchased Credit Impaired Loans by Credit Quality Indicator | Table 5.21 provides a breakdown of commercial PCI loans by risk category. Table 5.21: Commercial PCI Loans by Risk Category (in millions) Commercial and industrial Real estate mortgage Real estate construction Total June 30, 2016 By risk category: Pass $ 273 266 56 595 Criticized 807 180 14 1,001 Total commercial PCI loans $ 1,080 446 70 1,596 December 31, 2015 By risk category: Pass $ 35 298 68 401 Criticized 43 244 24 311 Total commercial PCI loans $ 78 542 92 712 |
Loans and Allowance for Credit Losses, Purchased Credit Impaired Loans by Delinquency Status, Commercial | Table 5.22 provides past due information for commercial PCI loans. Table 5.22: Commercial PCI Loans by Delinquency Status (in millions) Commercial and industrial Real estate mortgage Real estate construction Total June 30, 2016 By delinquency status: Current-29 DPD and still accruing $ 1,073 425 70 1,568 30-89 DPD and still accruing 7 1 — 8 90+ DPD and still accruing — 20 — 20 Total commercial PCI loans $ 1,080 446 70 1,596 December 31, 2015 By delinquency status: Current-29 DPD and still accruing $ 78 510 90 678 30-89 DPD and still accruing — 2 — 2 90+ DPD and still accruing — 30 2 32 Total commercial PCI loans $ 78 542 92 712 |
Loans and Allowance for Credit Losses, Purchased Credit Impaired Loans by Delinquency Status, Consumer | Table 5.23 provides the delinquency status of consumer PCI loans. Table 5.23: Consumer PCI Loans by Delinquency Status June 30, 2016 December 31, 2015 (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 $ 17,315 188 17,503 18,086 202 18,288 30-59 DPD and still accruing 1,525 7 1,532 1,686 7 1,693 60-89 DPD and still accruing 676 3 679 716 3 719 90-119 DPD and still accruing 254 2 256 293 2 295 120-179 DPD and still accruing 226 2 228 319 3 322 180+ DPD and still accruing 2,559 10 2,569 3,035 12 3,047 Total consumer PCI loans (adjusted unpaid principal balance) $ 22,555 212 22,767 24,135 229 24,364 Total consumer PCI loans (carrying value) $ 17,690 51 17,741 19,190 69 19,259 |
Loans and Allowance for Credit Losses, Purchased Credit Impaired Loans by FICO Score, Consumer | Table 5.24 provides FICO scores for consumer PCI loans. Table 5.24: Consumer PCI Loans by FICO June 30, 2016 December 31, 2015 (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 $ 5,399 47 5,446 5,737 52 5,789 600-639 3,846 30 3,876 4,754 38 4,792 640-679 5,345 41 5,386 6,208 48 6,256 680-719 4,057 42 4,099 4,283 43 4,326 720-759 1,869 25 1,894 1,914 24 1,938 760-799 940 18 958 910 13 923 800+ 254 3 257 241 3 244 No FICO available 845 6 851 88 8 96 Total consumer PCI loans (adjusted unpaid principal balance) $ 22,555 212 22,767 24,135 229 24,364 Total consumer PCI loans (carrying value) $ 17,690 51 17,741 19,190 69 19,259 |
Loans and Allowance for Credit Losses, Purchased Credit Impaired Loans by Loan to Value Ratio, Consumer | Table 5.25 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. Table 5.25: Consumer PCI Loans by LTV/CLTV June 30, 2016 December 31, 2015 (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% $ 6,747 38 6,785 5,437 32 5,469 60.01-80% 9,878 75 9,953 10,036 65 10,101 80.01-100% 4,475 64 4,539 6,299 80 6,379 100.01-120% (1) 1,109 24 1,133 1,779 36 1,815 > 120% (1) 340 10 350 579 15 594 No LTV/CLTV available 6 1 7 5 1 6 Total consumer PCI loans (adjusted unpaid principal balance) $ 22,555 212 22,767 24,135 229 24,364 Total consumer PCI loans (carrying value) $ 17,690 51 17,741 19,190 69 19,259 (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) | 6 Months Ended |
Jun. 30, 2016 | |
Other Assets [Abstract] | |
Components of Other Assets | Table 6.1 presents the components of other assets. Table 6.1: Other Assets (in millions) Jun 30, Dec 31, Nonmarketable equity investments: Cost method: Federal bank stock $ 5,686 4,814 Private equity 1,481 1,626 Auction rate securities 558 595 Total cost method 7,725 7,035 Equity method: LIHTC (1) 8,949 8,314 Private equity 3,521 3,300 Tax-advantaged renewable energy 1,538 1,625 New market tax credit and other 320 408 Total equity method 14,328 13,647 Fair value (2) 3,046 3,065 Total nonmarketable equity investments 25,099 23,747 Corporate/bank-owned life insurance 19,281 19,199 Accounts receivable (3) 35,056 26,251 Interest receivable 5,241 5,065 Core deposit intangibles 2,079 2,539 Customer relationship and other amortized intangibles 1,263 614 Foreclosed assets: Residential real estate: Government insured/guaranteed (3) 321 446 Non-government insured/guaranteed 335 414 Non-residential real estate 461 565 Operating lease assets 10,285 3,782 Due from customers on acceptances 222 273 Other (4) 23,501 17,887 Total other assets $ 123,144 100,782 (1) Represents low income housing tax credit investments. (2) 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. (3) Certain government-guaranteed residential real estate mortgage loans upon foreclosure are included in Accounts receivable. 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 2015 10-K. (4) 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] | Table 6.2 presents income (expense) related to nonmarketable equity investments. Table 6.2: Nonmarketable Equity Investments Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Net realized gains from nonmarketable equity investments $ 129 479 $ 314 830 All other (135 ) (278 ) (321 ) (426 ) Total $ (6 ) 201 $ (7 ) 404 |
Securitizations and Variable 35
Securitizations and Variable Interest Entities (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Securitizations and Variable Interest Entities [Abstract] | |
Balance Sheet Transactions With VIEs | Table 7.1 provides the classifications of assets and liabilities in our balance sheet for our transactions with VIEs. Table 7.1: Balance Sheet Transactions with VIEs (in millions) VIEs that we do not consolidate VIEs that we consolidate Transfers that we account for as secured borrowings Total June 30, 2016 Cash $ — 172 — 172 Federal funds sold, securities purchased under resale agreements and other short-term investments — 135 — 135 Trading assets 2,540 101 203 2,844 Investment securities (1) 10,205 303 1,185 11,693 Loans 7,707 12,868 4,400 24,975 Mortgage servicing rights 10,729 — — 10,729 Other assets 9,538 447 15 10,000 Total assets 40,719 14,026 5,803 60,548 Short-term borrowings — — 1,199 1,199 Accrued expenses and other liabilities 450 85 (2) 2 537 Long-term debt 3,291 4,043 (2) 4,351 11,685 Total liabilities 3,741 4,128 5,552 13,421 Noncontrolling interests — 149 — 149 Net assets $ 36,978 9,749 251 46,978 December 31, 2015 Cash $ — 157 — 157 Federal funds sold, securities purchased under resale agreements and other short-term investments — — — — Trading assets 1,340 1 203 1,544 Investment securities (1) 12,388 425 2,171 14,984 Loans 9,661 4,811 4,887 19,359 Mortgage servicing rights 12,518 — — 12,518 Other assets 8,938 242 26 9,206 Total assets 44,845 5,636 7,287 57,768 Short-term borrowings — — 1,799 1,799 Accrued expenses and other liabilities 629 57 (2) 1 687 Long-term debt 3,021 1,301 (2) 4,844 9,166 Total liabilities 3,650 1,358 6,644 11,652 Noncontrolling interests — 93 — 93 Net assets $ 41,195 4,185 643 46,023 (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. |
Unconsolidated VIEs | Table 7.2 provides 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). Table 7.2: Unconsolidated VIEs Carrying value – asset (liability) (in millions) Total VIE assets Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Net assets June 30, 2016 Residential mortgage loan securitizations: Conforming (2) $ 1,181,463 3,431 9,829 — (268 ) 12,992 Other/nonconforming 22,132 1,125 115 — (2 ) 1,238 Commercial mortgage securitizations 173,135 5,185 785 324 (31 ) 6,263 Collateralized debt obligations: Debt securities 2,611 — — 58 (39 ) 19 Loans (3) 1,589 1,551 — — — 1,551 Asset-based finance structures 11,482 8,001 — — — 8,001 Tax credit structures 27,157 9,743 — — (3,320 ) 6,423 Collateralized loan obligations 600 57 — — — 57 Investment funds 209 49 — — — 49 Other (4) 12,588 466 — (81 ) — 385 Total $ 1,432,966 29,608 10,729 301 (3,660 ) 36,978 Maximum exposure to loss Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Total exposure Residential mortgage loan securitizations: Conforming $ 3,431 9,829 — 1,074 14,334 Other/nonconforming 1,125 115 — 2 1,242 Commercial mortgage securitizations 5,185 785 324 8,699 14,993 Collateralized debt obligations: Debt securities — — 58 39 97 Loans (3) 1,551 — — — 1,551 Asset-based finance structures 8,001 — — 444 8,445 Tax credit structures 9,743 — — 976 10,719 Collateralized loan obligations 57 — — — 57 Investment funds 49 — — — 49 Other (4) 466 — 119 — 585 Total $ 29,608 10,729 501 11,234 52,072 (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, 2015 Residential mortgage loan securitizations: Conforming (2) $ 1,199,225 2,458 11,665 — (386 ) 13,737 Other/nonconforming 24,809 1,228 141 — (1 ) 1,368 Commercial mortgage securitizations 184,959 6,323 712 203 (26 ) 7,212 Collateralized debt obligations: Debt securities 3,247 — — 64 (57 ) 7 Loans (3) 3,314 3,207 — — — 3,207 Asset-based finance structures 13,063 8,956 — (66 ) — 8,890 Tax credit structures 26,099 9,094 — — (3,047 ) 6,047 Collateralized loan obligations 898 213 — — — 213 Investment funds 1,131 47 — — — 47 Other (4) 12,690 511 — (44 ) — 467 Total $ 1,469,435 32,037 12,518 157 (3,517 ) 41,195 Maximum exposure to loss Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Total exposure Residential mortgage loan securitizations: Conforming $ 2,458 11,665 — 1,452 15,575 Other/nonconforming 1,228 141 — 1 1,370 Commercial mortgage securitizations 6,323 712 203 7,152 14,390 Collateralized debt obligations: Debt securities — — 64 57 121 Loans (3) 3,207 — — — 3,207 Asset-based finance structures 8,956 — 76 444 9,476 Tax credit structures 9,094 — — 866 9,960 Collateralized loan obligations 213 — — — 213 Investment funds 47 — — — 47 Other (4) 511 — 117 150 778 Total $ 32,037 12,518 460 10,122 55,137 (1) Includes total equity interests of $9.5 billion and $8.9 billion at June 30, 2016 , and December 31, 2015 , 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 $1.0 billion and $1.3 billion at June 30, 2016 , and December 31, 2015 , respectively, for certain delinquent loans that are eligible for repurchase 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 predominantly in senior tranches from a diversified pool of U.S. asset securitizations, of which all are current and 100% and 70% were rated as investment grade by the primary rating agencies at June 30, 2016 , and December 31, 2015 , 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 from Sales and Securitization Activity | Table 7.3 presents the cash flows for our transfers accounted for as sales. Table 7.3: Cash Flows From Sales and Securitization Activity 2016 2015 (in millions) Mortgage loans Other financial assets Mortgage loans Other financial assets Quarter ended June 30, Proceeds from securitizations and whole loan sales $ 66,455 83 58,984 160 Fees from servicing rights retained 864 — 923 2 Cash flows from other interests held (1) 627 — 348 11 Repurchases of assets/loss reimbursements (2): Non-agency securitizations and whole loan transactions 15 — 1 — Agency securitizations (3) 35 — 76 — Servicing advances, net of repayments (39 ) — (154 ) — Six months ended June 30, Proceeds from securitizations and whole loan sales $ 111,471 133 100,893 181 Fees from servicing rights retained 1,745 — 1,858 4 Cash flows from other interests held (1) 1,034 1 614 23 Repurchases of assets/loss reimbursements (2): Non-agency securitizations and whole loan transactions 18 — 7 — Agency securitizations (3) 82 — 138 — Servicing advances, net of repayments (107 ) — (254 ) — (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. (3) Represent loans repurchased from GNMA, FNMA, and FHLMC under representation and warranty provisions included in our loan sales contracts. Second quarter and first half of 2016 exclude $2.0 billion and $ 4.9 billion respectively, in delinquent insured/guaranteed loans that we service and have exercised our option to purchase out of GNMA pools, compared with $2.7 billion and $ 6.0 billion , respectively, in the same periods of 2015 . These loans are predominantly insured by the FHA or guaranteed by the VA. |
Residential Mortgage Servicing Rights | Table 7.4 presents the key weighted-average assumptions we used to measure residential mortgage servicing rights at the date of securitization. Table 7.4: Residential Mortgage Servicing Rights Residential mortgage servicing rights 2016 2015 Quarter ended June 30, Prepayment speed (1) 12.1 % 11.9 Discount rate 6.7 7.6 Cost to service ($ per loan) (2) $ 141 237 Six months ended June 30, Prepayment speed (1) 12.5 % 12.4 Discount rate 6.8 7.6 Cost to service ($ per loan) (2) $ 143 237 (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. |
Retained Interests from Unconsolidated VIEs | Table 7.5 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 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. Table 7.5: Retained Interests from Unconsolidated VIEs 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 June 30, 2016 $ 10,396 33 1 303 698 Expected weighted-average life (in years) 5.2 3.6 9.1 1.2 5.9 Key economic assumptions: Prepayment speed assumption (3) 13.6 % 19.1 15.0 Decrease in fair value from: 10% adverse change $ 595 1 — 25% adverse change 1,401 3 — Discount rate assumption 6.2 % 13.1 9.8 7.0 2.5 Decrease in fair value from: 100 basis point increase $ 490 1 — 4 35 200 basis point increase 938 1 — 7 68 Cost to service assumption ($ per loan) 162 Decrease in fair value from: 10% adverse change 515 25% adverse change 1,289 Credit loss assumption 2.6 % 2.9 — Decrease in fair value from: 10% higher losses $ — 2 — 25% higher losses — 5 — Fair value of interests held at December 31, 2015 $ 12,415 34 1 342 673 Expected weighted-average life (in years) 6.0 3.6 11.6 1.9 5.8 Key economic assumptions: Prepayment speed assumption (3) 11.4 % 19.0 15.1 Decrease in fair value from: 10% adverse change $ 616 1 — 25% adverse change 1,463 3 — Discount rate assumption 7.3 % 13.8 10.5 5.3 3.0 Decrease in fair value from: 100 basis point increase $ 605 1 — 6 33 200 basis point increase 1,154 1 — 11 63 Cost to service assumption ($ per loan) 168 Decrease in fair value from: 10% adverse change 567 25% adverse change 1,417 Credit loss assumption 1.1 % 2.8 — Decrease in fair value from: 10% higher losses $ — — — 25% higher losses — 2 — (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. |
Off-Balance Sheet Loans Sold Or Securitized | Table 7.6 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 (including 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. Table 7.6: Off-Balance Sheet Loans Sold or Securitized Net charge-offs Total loans Delinquent loans and foreclosed assets (1) Six months ended June 30, (in millions) Jun 30, 2016 Dec 31, 2015 Jun 30, 2016 Dec 31, 2015 2016 2015 Commercial: Real estate mortgage $ 110,135 110,815 2,622 6,670 156 196 Total commercial 110,135 110,815 2,622 6,670 156 196 Consumer: Real estate 1-4 family first mortgage 1,192,910 1,235,662 18,294 20,904 534 428 Total consumer 1,192,910 1,235,662 18,294 20,904 534 428 Total off-balance sheet sold or securitized loans (2) $ 1,303,045 1,346,477 20,916 27,574 690 624 (1) Includes $1.9 billion and $5.0 billion of commercial foreclosed assets and $2.1 billion and $2.2 billion of consumer foreclosed assets at June 30, 2016 , and December 31, 2015 , respectively. (2) At June 30, 2016 , and December 31, 2015 , the table includes total loans of $1.2 trillion at both dates, delinquent loans of $10.7 billion and $12.1 billion , and foreclosed assets of $1.5 billion and $1.7 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 | Table 7.7 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. Table 7.7: Transactions with Consolidated VIEs and Secured Borrowings Carrying value (in millions) Total VIE assets Assets Liabilities Noncontrolling interests Net assets June 30, 2016 Secured borrowings: Municipal tender option bond securitizations $ 1,846 1,403 (1,200 ) — 203 Residential mortgage securitizations 4,264 4,400 (4,352 ) — 48 Total secured borrowings 6,110 5,803 (5,552 ) — 251 Consolidated VIEs: Commercial and industrial loans and leases 8,841 8,841 (2,985 ) (12 ) 5,844 Nonconforming residential mortgage loan securitizations 3,723 3,318 (1,122 ) — 2,196 Commercial real estate loans 1,207 1,207 — — 1,207 Structured asset finance 29 16 (12 ) — 4 Investment funds 492 492 (8 ) (67 ) 417 Other 165 152 (1 ) (70 ) 81 Total consolidated VIEs 14,457 14,026 (4,128 ) (149 ) 9,749 Total secured borrowings and consolidated VIEs $ 20,567 19,829 (9,680 ) (149 ) 10,000 December 31, 2015 Secured borrowings: Municipal tender option bond securitizations $ 2,818 2,400 (1,800 ) — 600 Residential mortgage securitizations 4,738 4,887 (4,844 ) — 43 Total secured borrowings 7,556 7,287 (6,644 ) — 643 Consolidated VIEs: Nonconforming residential mortgage loan securitizations 4,134 3,654 (1,239 ) — 2,415 Commercial real estate loans 1,185 1,185 — — 1,185 Structured asset finance 54 20 (18 ) — 2 Investment funds 482 482 — — 482 Other 305 295 (101 ) (93 ) 101 Total consolidated VIEs 6,160 5,636 (1,358 ) (93 ) 4,185 Total secured borrowings and consolidated VIEs $ 13,716 12,923 (8,002 ) (93 ) 4,828 |
Mortgage Banking Activities (Ta
Mortgage Banking Activities (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Mortgage Banking Activities [Abstract] | |
Analysis of Changes in Fair Value MSRs | Table 8.1 presents the changes in MSRs measured using the fair value method. Table 8.1: Analysis of Changes in Fair Value MSRs Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Fair value, beginning of period $ 11,333 11,739 12,415 12,738 Servicing from securitizations or asset transfers (1) 477 428 843 736 Sales and other (2) (22 ) (5 ) (22 ) (6 ) Net additions 455 423 821 730 Changes in fair value: Due to changes in valuation model inputs or assumptions: Mortgage interest rates (3) (779 ) 1,117 (1,863 ) 545 Servicing and foreclosure costs (4) (4 ) (10 ) 23 (28 ) Prepayment estimates and other (5) (41 ) (54 ) 59 (237 ) Net changes in valuation model inputs or assumptions (824 ) 1,053 (1,781 ) 280 Other changes in fair value (6) (568 ) (554 ) (1,059 ) (1,087 ) Total changes in fair value (1,392 ) 499 (2,840 ) (807 ) Fair value, end of period $ 10,396 12,661 10,396 12,661 (1) Includes impacts associated with exercising our right to repurchase delinquent loans from GNMA loan securitization pools. (2) Includes sales and transfers of MSRs. (3) 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). (4) Includes costs to service and unreimbursed foreclosure costs. (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. |
Analysis of Changes in Amortized MSRs | Table 8.2 presents the changes in amortized MSRs. Table 8.2: Analysis of Changes in Amortized MSRs Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Balance, beginning of period $ 1,359 1,252 1,308 1,242 Purchases 24 29 45 51 Servicing from securitizations or asset transfers 38 46 135 96 Amortization (68 ) (65 ) (135 ) (127 ) Balance, end of period (1) $ 1,353 1,262 1,353 1,262 Fair value of amortized MSRs: Beginning of period $ 1,725 1,522 1,680 1,637 End of period 1,620 1,692 1,620 1,692 (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. |
Managed Servicing Portfolio | We present the components of our managed servicing portfolio in Table 8.3 at unpaid principal balance for loans serviced and subserviced for others and at book value for owned loans serviced. Table 8.3: Managed Servicing Portfolio (in billions) Jun 30, 2016 Dec 31, 2015 Residential mortgage servicing: Serviced for others $ 1,250 1,300 Owned loans serviced 349 345 Subserviced for others 4 4 Total residential servicing 1,603 1,649 Commercial mortgage servicing: Serviced for others 478 478 Owned loans serviced 128 122 Subserviced for others 8 7 Total commercial servicing 614 607 Total managed servicing portfolio $ 2,217 2,256 Total serviced for others $ 1,728 1,778 Ratio of MSRs to related loans serviced for others 0.68 % 0.77 |
Mortgage Banking Noninterest Income | Table 8.4 presents the components of mortgage banking noninterest income. Table 8.4: Mortgage Banking Noninterest Income Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Servicing income, net: Servicing fees: Contractually specified servicing fees $ 949 1,008 1,903 2,028 Late charges 42 46 90 99 Ancillary fees 54 81 115 152 Unreimbursed direct servicing costs (1) (203 ) (109 ) (356 ) (243 ) Net servicing fees 842 1,026 1,752 2,036 Changes in fair value of MSRs carried at fair value: Due to changes in valuation model inputs or assumptions (2) (A) (824 ) 1,053 (1,781 ) 280 Other changes in fair value (3) (568 ) (554 ) (1,059 ) (1,087 ) Total changes in fair value of MSRs carried at fair value (1,392 ) 499 (2,840 ) (807 ) Amortization (68 ) (65 ) (135 ) (127 ) Net derivative gains from economic hedges (4) (B) 978 (946 ) 2,433 (65 ) Total servicing income, net 360 514 1,210 1,037 Net gains on mortgage loan origination/sales activities 1,054 1,191 1,802 2,215 Total mortgage banking noninterest income $ 1,414 1,705 3,012 3,252 Market-related valuation changes to MSRs, net of hedge results (2)(4) (A)+(B) $ 154 107 652 215 (1) Includes costs associated with foreclosures, unreimbursed interest advances to investors, and other interest costs. (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. |
Analysis of Changes in Liability for Mortgage Loan Repurchase Losses | Table 8.5 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 exceeded our recorded liability by $179 million at June 30, 2016 , 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. Table 8.5: Analysis of Changes in Liability for Mortgage Loan Repurchase Losses Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Balance, beginning of period $ 355 586 378 615 Provision for repurchase losses: Loan sales 8 13 15 23 Change in estimate (1) (89 ) (31 ) (108 ) (57 ) Net reductions (81 ) (18 ) (93 ) (34 ) Losses (19 ) (11 ) (30 ) (24 ) Balance, end of period $ 255 557 255 557 (1) Results from changes in investor demand and mortgage insurer practices, credit deterioration and changes in the financial stability of correspondent lenders. |
Intangible Assets (Tables)
Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Gross Carrying Value of Intangible Assets And Accumulated Amortization | Table 9.1 presents the gross carrying value of intangible assets and accumulated amortization. Table 9.1: Intangible Assets June 30, 2016 December 31, 2015 (in millions) Gross carrying value Accumulated amortization Net carrying value Gross carrying value Accumulated amortization Net carrying value Amortized intangible assets (1): MSRs (2) $ 3,408 (2,055 ) 1,353 3,228 (1,920 ) 1,308 Core deposit intangibles 12,834 (10,755 ) 2,079 12,834 (10,295 ) 2,539 Customer relationship and other intangibles 3,953 (2,690 ) 1,263 3,163 (2,549 ) 614 Total amortized intangible assets $ 20,195 (15,500 ) 4,695 19,225 (14,764 ) 4,461 Unamortized intangible assets: MSRs (carried at fair value) (2) $ 10,396 12,415 Goodwill 26,963 25,529 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 | Table 9.2 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 June 30, 2016 . Future amortization expense may vary from these projections. Table 9.2: Amortization Expense for Intangible Assets (in millions) Amortized MSRs Core deposit intangibles Customer relationship and other intangibles Total Six months ended June 30, 2016 (actual) $ 135 460 141 736 Estimate for the remainder of 2016 $ 133 459 151 743 Estimate for year ended December 31, 2017 228 851 309 1,388 2018 190 769 305 1,264 2019 168 — 112 280 2020 153 — 93 246 2021 129 — 75 204 |
Allocation of Goodwill to Operating Segments | Table 9.3 shows the allocation of goodwill to our reportable operating segments for purposes of goodwill impairment testing. Table 9.3: Goodwill (in millions) Community Banking Wholesale Banking Wealth and Investment Management Consolidated Company December 31, 2014 and June 30, 2015 $ 16,870 7,633 1,202 25,705 December 31, 2015 $ 16,849 7,475 1,205 25,529 Reduction in goodwill related to divested businesses and other — (84 ) — (84 ) Goodwill from business combinations — 1,518 — 1,518 June 30, 2016 $ 16,849 8,909 1,205 26,963 |
Guarantees, Pledged Assets an38
Guarantees, Pledged Assets and Collateral (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Guarantees [Abstract] | |
Schedule of Guarantor Obligations | Table 10.1 shows carrying value, maximum exposure to loss on our guarantees and the related non-investment grade amounts. Table 10.1: Guarantees – Carrying Value and Maximum Exposure to Loss 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 June 30, 2016 Standby letters of credit (1) $ 40 16,261 10,407 3,731 798 31,197 10,374 Securities lending and other indemnifications (2) — — — — 1,770 1,770 — Written put options (3) 234 8,919 7,348 4,314 1,563 22,144 11,506 Loans and MHFS sold with recourse (4) 64 115 709 739 7,842 9,405 6,382 Factoring guarantees (5) — 740 — — — 740 740 Other guarantees 9 31 21 18 2,818 2,888 28 Total guarantees $ 347 26,066 18,485 8,802 14,791 68,144 29,030 December 31, 2015 Standby letters of credit (1) $ 38 16,360 9,618 4,116 642 30,736 8,981 Securities lending and other indemnifications (2) — — — — 1,841 1,841 — Written put options (3) 371 7,387 6,463 4,505 1,440 19,795 9,583 Loans and MHFS sold with recourse (4) 62 112 723 690 6,434 7,959 4,864 Factoring guarantees (5) — 1,598 — — — 1,598 1,598 Other guarantees 28 62 17 17 2,482 2,578 53 Total guarantees $ 499 25,519 16,821 9,328 12,839 64,507 25,079 (1) Total maximum exposure to loss includes direct pay letters of credit (DPLCs) of $11.2 billion and $11.8 billion at June 30, 2016 , and December 31, 2015 , 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 indemnifications provided to certain third-party clearing agents. Outstanding customer obligations under these arrangements were $181 million and $352 million with related collateral of $1.6 billion and $1.5 billion at June 30, 2016 , and December 31, 2015 , respectively. Estimated maximum exposure to loss was $1.8 billion at both June 30, 2016 and December 31, 2015. (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 $1 million and $2 million respectively, of loans associated with these agreements in the second quarter and first half of 2016 , and $2 million and $3 million in the same periods of 2015 , 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 | Table 10.2 provides the total carrying amount of pledged assets by asset type. The table excludes pledged consolidated VIE assets of $14.0 billion and $5.6 billion at June 30, 2016 , and December 31, 2015 , respectively, which can only be used to settle the liabilities of those entities. The table also excludes $5.8 billion and $7.3 billion in assets pledged in transactions accounted for as secured borrowings at June 30, 2016 , and December 31, 2015 , respectively. See Note 7 (Securitizations and Variable Interest Entities) for additional information on consolidated VIE assets and secured borrowings. Table 10.2: Pledged Assets (in millions) Jun 30, Dec 31, Trading assets and other (1) $ 104,793 73,396 Investment securities (2) 95,354 113,912 Mortgages held for sale and Loans (3) 497,364 453,058 Total pledged assets $ 697,511 640,366 (1) Represent assets pledged to collateralize repurchase agreements and other securities financings. Balance includes $104.3 billion and $73.0 billion at June 30, 2016 , and December 31, 2015 , respectively, under agreements that permit the secured parties to sell or repledge the collateral. (2) Includes carrying value of $5.8 billion and $6.5 billion (fair value of $5.9 billion and $ 6.5 billion ) in collateral for repurchase agreements at June 30, 2016 , and December 31, 2015 , respectively, which are pledged under agreements that do not permit the secured parties to sell or repledge the collateral. Also includes $12.8 billion and $13.0 billion in collateral pledged under repurchase agreements at June 30, 2016 , and December 31, 2015 , 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 $14.4 billion and $8.7 billion at June 30, 2016 , and December 31, 2015 , 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 $1.0 billion and $1.3 billion at June 30, 2016 , and December 31, 2015 , respectively, of pledged loans recorded on our balance sheet representing certain delinquent loans that are eligible for repurchase 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 | Table 10.3 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 Table 10.3 , we also have balance sheet netting related to derivatives that is disclosed in Note 12 (Derivatives). Table 10.3: Offsetting – Resale and Repurchase Agreements (in millions) Jun 30, Dec 31, Assets: Resale and securities borrowing agreements Gross amounts recognized $ 95,437 74,935 Gross amounts offset in consolidated balance sheet (1) (17,150 ) (9,158 ) Net amounts in consolidated balance sheet (2) 78,287 65,777 Collateral not recognized in consolidated balance sheet (3) (77,683 ) (65,035 ) Net amount (4) $ 604 742 Liabilities: Repurchase and securities lending agreements Gross amounts recognized (5) $ 121,276 91,278 Gross amounts offset in consolidated balance sheet (1) (17,150 ) (9,158 ) Net amounts in consolidated balance sheet (6) 104,126 82,120 Collateral pledged but not netted in consolidated balance sheet (7) (103,791 ) (81,772 ) Net amount (8) $ 335 348 (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 June 30, 2016 , and December 31, 2015 , includes $54.5 billion and $45.7 billion , respectively, classified on our consolidated balance sheet in federal funds sold, securities purchased under resale agreements and other short-term investments and $23.8 billion and $20.1 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 June 30, 2016 , and December 31, 2015 , we have received total collateral with a fair value of $107.6 billion and $84.9 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 $67.9 billion at June 30, 2016 , and $51.1 billion at December 31, 2015 . (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 June 30, 2016 , and December 31, 2015 , we have pledged total collateral with a fair value of $123.4 billion and $92.9 billion , respectively, of which, the counterparty does not have the right to sell or repledge $6.3 billion as of June 30, 2016 and $6.9 billion as of December 31, 2015 . (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 | Table 10.4 provides the underlying collateral types of our gross obligations under repurchase and securities lending agreements. Table 10.4: Underlying Collateral Types of Gross Obligations (in millions) Jun 30, Dec 31, Repurchase agreements: Securities of U.S. Treasury and federal agencies $ 52,177 32,254 Securities of U.S. States and political subdivisions 109 7 Federal agency mortgage-backed securities 43,001 37,033 Non-agency mortgage-backed securities 1,954 1,680 Corporate debt securities 5,298 4,674 Asset-backed securities 2,789 2,275 Equity securities 999 2,457 Other 1,138 1,162 Total repurchases 107,465 81,542 Securities lending: Securities of U.S. Treasury and federal agencies 80 61 Federal agency mortgage-backed securities 148 76 Non-agency mortgage-backed securities 1 — Corporate debt securities 924 899 Equity securities (1) 12,658 8,700 Total securities lending 13,811 9,736 Total repurchases and securities lending $ 121,276 91,278 (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. Table 10.5 provides the contractual maturities of our gross obligations under repurchase and securities lending agreements. Table 10.5: Contractual Maturities of Gross Obligations (in millions) Overnight/continuous Up to 30 days 30-90 days >90 days Total gross obligation June 30, 2016 Repurchase agreements $ 83,097 15,454 7,023 1,891 107,465 Securities lending 11,718 220 1,873 — 13,811 Total repurchases and securities lending (1) $ 94,815 15,674 8,896 1,891 121,276 December 31, 2015 Repurchase agreements $ 58,021 19,561 2,935 1,025 81,542 Securities lending 7,845 362 1,529 — 9,736 Total repurchases and securities lending (1) $ 65,866 19,923 4,464 1,025 91,278 (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) | 6 Months Ended |
Jun. 30, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Notional or Contractual Amounts and Fair Values of Derivatives | Table 12.1 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. Table 12.1: Notional or Contractual Amounts and Fair Values of Derivatives June 30, 2016 December 31, 2015 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) $ 225,772 14,893 4,456 191,684 7,477 2,253 Foreign exchange contracts (1) 26,670 1,000 1,658 25,115 378 2,494 Total derivatives designated as qualifying hedging instruments 15,893 6,114 7,855 4,747 Derivatives not designated as hedging instruments Economic hedges: Interest rate contracts (2) 243,492 1,134 1,006 211,375 195 315 Equity contracts 7,600 808 49 7,427 531 47 Foreign exchange contracts 15,945 455 231 16,407 321 100 Credit contracts – protection purchased 184 78 — — — — Subtotal 2,475 1,286 1,047 462 Customer accommodation, trading and other derivatives: Interest rate contracts 5,655,493 105,333 105,358 4,685,898 55,053 55,409 Commodity contracts 54,628 2,920 3,282 47,571 4,659 5,519 Equity contracts 161,398 6,542 5,445 139,956 7,068 4,761 Foreign exchange contracts 331,009 9,520 9,565 295,962 8,248 8,339 Credit contracts – protection sold 9,917 60 467 10,544 83 541 Credit contracts – protection purchased 20,765 455 97 18,018 567 88 Other contracts 983 — 88 1,041 — 58 Subtotal 124,830 124,302 75,678 74,715 Total derivatives not designated as hedging instruments 127,305 125,588 76,725 75,177 Total derivatives before netting 143,198 131,702 84,580 79,924 Netting (3) (122,199 ) (116,219 ) (66,924 ) (66,004 ) Total $ 20,999 15,483 17,656 13,920 (1) Notional amounts presented exclude $ 1.9 billion of interest rate contracts at both June 30, 2016 and December 31, 2015 , for certain derivatives that are combined for designation as a hedge on a single instrument. The notional amount for foreign exchange contracts at June 30, 2016 , and December 31, 2015 excludes $7.9 billion and $7.8 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 Table 12.2 for further information. |
Gross Fair Value of Derivative Assets and Liabilities | Table 12.2 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 substantially all 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 $126.8 billion and $124.0 billion of gross derivative assets and liabilities, respectively, at June 30, 2016 , and $69.9 billion and $74.0 billion , respectively, at December 31, 2015 , 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 $16.4 billion and $7.7 billion , respectively, at June 30, 2016 and $14.6 billion and $5.9 billion , respectively, at December 31, 2015 , 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 Table 12.2 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). Table 12.2: Gross Fair Value of Derivative Assets and Liabilities (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) June 30, 2016 Derivative assets Interest rate contracts $ 121,360 (110,736 ) 10,624 (1,266 ) 9,358 27 % Commodity contracts 2,920 (905 ) 2,015 (92 ) 1,923 61 Equity contracts 7,350 (2,468 ) 4,882 (469 ) 4,413 54 Foreign exchange contracts 10,975 (7,647 ) 3,328 (43 ) 3,285 95 Credit contracts – protection sold 60 (53 ) 7 — 7 81 Credit contracts – protection purchased 533 (390 ) 143 (5 ) 138 99 Total derivative assets $ 143,198 (122,199 ) 20,999 (1,875 ) 19,124 Derivative liabilities Interest rate contracts $ 110,820 (103,357 ) 7,463 (4,897 ) 2,566 24 % Commodity contracts 3,282 (781 ) 2,501 (46 ) 2,455 68 Equity contracts 5,494 (2,219 ) 3,275 (294 ) 2,981 82 Foreign exchange contracts 11,454 (9,440 ) 2,014 (698 ) 1,316 100 Credit contracts – protection sold 467 (373 ) 94 (75 ) 19 99 Credit contracts – protection purchased 97 (49 ) 48 (5 ) 43 48 Other contracts 88 — 88 — 88 100 Total derivative liabilities $ 131,702 (116,219 ) 15,483 (6,015 ) 9,468 December 31, 2015 Derivative assets Interest rate contracts $ 62,725 (56,612 ) 6,113 (749 ) 5,364 39 % Commodity contracts 4,659 (998 ) 3,661 (76 ) 3,585 35 Equity contracts 7,599 (2,625 ) 4,974 (471 ) 4,503 51 Foreign exchange contracts 8,947 (6,141 ) 2,806 (34 ) 2,772 98 Credit contracts – protection sold 83 (79 ) 4 — 4 76 Credit contracts – protection purchased 567 (469 ) 98 (2 ) 96 100 Total derivative assets $ 84,580 (66,924 ) 17,656 (1,332 ) 16,324 Derivative liabilities Interest rate contracts $ 57,977 (53,259 ) 4,718 (3,543 ) 1,175 35 % Commodity contracts 5,519 (1,052 ) 4,467 (40 ) 4,427 84 Equity contracts 4,808 (2,241 ) 2,567 (154 ) 2,413 85 Foreign exchange contracts 10,933 (8,968 ) 1,965 (634 ) 1,331 100 Credit contracts – protection sold 541 (434 ) 107 (107 ) — 100 Credit contracts – protection purchased 88 (50 ) 38 (6 ) 32 70 Other contracts 58 — 58 — 58 100 Total derivative liabilities $ 79,924 (66,004 ) 13,920 (4,484 ) 9,436 (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 $452 million and $375 million related to derivative assets and $104 million and $81 million related to derivative liabilities at June 30, 2016 and December 31, 2015 , respectively. Cash collateral totaled $10.4 billion and $4.8 billion , netted against derivative assets and liabilities, respectively, at June 30, 2016 , and $5.3 billion and $4.7 billion , respectively, at December 31, 2015 . (2) Net derivative assets of $8.5 billion and $12.4 billion are classified in Trading assets at June 30, 2016 and December 31, 2015 , respectively. $12.5 billion and $5.3 billion are classified in Other assets in the consolidated balance sheet at June 30, 2016 and December 31, 2015 , 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. |
Derivatives in Fair Value Hedging Relationships | Table 12.3 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. Table 12.3: Derivatives in Fair Value Hedging Relationships 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 June 30, 2016 Net interest income (expense) recognized on derivatives $ (170 ) (2 ) 483 2 15 328 Gains (losses) recorded in noninterest income Recognized on derivatives (1,012 ) (5 ) 1,983 134 (455 ) 645 Recognized on hedged item 1,018 6 (1,762 ) (133 ) 394 (477 ) Net recognized on fair value hedges (ineffective portion) (1) $ 6 1 221 1 (61 ) 168 Quarter ended June 30, 2015 Net interest income (expense) recognized on derivatives $ (200 ) (4 ) 479 (1 ) 56 330 Gains (losses) recorded in noninterest income Recognized on derivatives 1,352 19 (2,305 ) (116 ) 264 (786 ) Recognized on hedged item (1,357 ) (21 ) 2,068 111 (302 ) 499 Net recognized on fair value hedges (ineffective portion) (1) $ (5 ) (2 ) (237 ) (5 ) (38 ) (287 ) Six months ended June 30, 2016 Net interest income (expense) recognized on derivatives $ (351 ) (4 ) 965 2 31 643 Gains (losses) recorded in noninterest income Recognized on derivatives (2,695 ) (42 ) 5,086 68 1,163 3,580 Recognized on hedged item 2,709 39 (4,569 ) (74 ) (1,008 ) (2,903 ) Net recognized on fair value hedges (ineffective portion) (1) $ 14 (3 ) 517 (6 ) 155 677 Six months ended June 30, 2015 Net interest income (expense) recognized on derivatives $ (386 ) (7 ) 951 — 117 675 Gains (losses) recorded in noninterest income Recognized on derivatives 686 6 (1,047 ) 164 (1,623 ) (1,814 ) Recognized on hedged item (696 ) (11 ) 918 (158 ) 1,647 1,700 Net recognized on fair value hedges (ineffective portion) (1) $ (10 ) (5 ) (129 ) 6 24 (114 ) (1) The second quarter and first half of 2016 included $(3) million and $(7) million , respectively, and the second quarter and first half of 2015 included $(2) million and $(3) million , respectively, 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. |
Derivatives in Cash Flow Hedging Relationships | Table 12.4 shows the net gains (losses) recognized related to derivatives in cash flow hedging relationships. Table 12.4: Derivatives in Cash Flow Hedging Relationships Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Gains (losses) (pre tax) recognized in OCI on derivatives $ 1,057 (488 ) 3,056 464 Gains (pre tax) reclassified from cumulative OCI into net income (1) 265 268 521 502 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 | Table 12.5 shows the net gains recognized in the income statement related to derivatives not designated as hedging instruments. Table 12.5: Derivatives Not Designated as Hedging Instruments Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Net gains (losses) recognized on economic hedges derivatives: Interest rate contracts Recognized in noninterest income: Mortgage banking (1) $ 566 (383 ) 1,431 264 Other (2) (117 ) 114 (252 ) 50 Equity contracts (3) 205 25 288 5 Foreign exchange contracts (2) 495 (670 ) 329 (22 ) Subtotal 1,149 (914 ) 1,796 297 Net gains (losses) recognized on customer accommodation, trading and other derivatives: Interest rate contracts Recognized in noninterest income: Mortgage banking (4) 510 (23 ) 975 364 Other (5) (280 ) 489 (730 ) 396 Commodity contracts (5) 64 13 117 44 Equity contracts (5) (315 ) (139 ) (295 ) 50 Foreign exchange contracts (5) 276 215 498 325 Credit contracts (5) (25 ) 7 (41 ) (1 ) Other (2) (9 ) 15 (30 ) 7 Subtotal 221 577 494 1,185 Net gains recognized related to derivatives not designated as hedging instruments $ 1,370 (337 ) 2,290 1,482 (1) Reflected in 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) Included in other noninterest income. (3) Included in net gains (losses) from equity investments and other noninterest income. (4) Reflected in mortgage banking noninterest income including gains (losses) on interest rate lock commitments. (5) Included in net gains from trading activities in noninterest income. |
Sold and Purchased Credit Derivatives | Table 12.6 provides details of sold and purchased credit derivatives. Table 12.6: 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 June 30, 2016 Credit default swaps on: Corporate bonds $ 25 4,561 1,681 3,376 1,185 2,089 2016 - 2025 Structured products 233 493 395 333 160 123 2020 - 2047 Credit protection on: Default swap index — 1,610 240 1,226 384 2,662 2016 - 2021 Commercial mortgage-backed securities index 187 614 — 569 45 53 2047 - 2058 Asset-backed securities index 20 46 — 41 5 189 2045 - 2046 Other 2 2,593 2,593 — 2,593 10,288 2016 - 2025 Total credit derivatives $ 467 9,917 4,909 5,545 4,372 15,404 December 31, 2015 Credit default swaps on: Corporate bonds $ 44 4,838 1,745 3,602 1,236 2,272 2016 - 2025 Structured products 275 598 463 395 203 142 2017 - 2047 Credit protection on: Default swap index — 1,727 370 1,717 10 960 2016 - 2020 Commercial mortgage-backed securities index 203 822 — 766 56 316 2047 - 2057 Asset-backed securities index 18 47 — 1 46 71 2045 - 2046 Other 1 2,512 2,512 — 2,512 7,776 2016 - 2025 Total credit derivatives $ 541 10,544 5,090 6,481 4,063 11,537 |
Fair Values of Assets and Lia40
Fair Values of Assets and Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Measurements from Brokers or Third Party Pricing Services | Table 13.1 . presents unadjusted fair value measurements provided by brokers or third-party pricing services by fair value hierarchy level. 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 excluded from Table 13.1 . Table 13.1: Fair Value Measurements by Brokers or Third-Party Pricing Services Brokers Third party pricing services (in millions) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 June 30, 2016 Trading assets (excluding derivatives) $ — — — — 55 — Available-for-sale securities: Securities of U.S. Treasury and federal agencies — — — 24,788 3,151 — Securities of U.S. states and political subdivisions — — — — 52,230 49 Mortgage-backed securities — 222 — — 115,117 95 Other debt securities (1) — 624 832 — 49,948 238 Total debt securities — 846 832 24,788 220,446 382 Total marketable equity securities — — — — 464 — Total available-for-sale securities — 846 832 24,788 220,910 382 Derivatives (trading and other assets) — — — — 210 — Derivatives (liabilities) — — — — (209 ) — Other liabilities (2) — — — — (1 ) — December 31, 2015 Trading assets (excluding derivatives) $ — — — — 5 — Available-for-sale securities: Securities of U.S. Treasury and federal agencies — — — 32,868 3,382 — Securities of U.S. states and political subdivisions — — — — 48,443 51 Mortgage-backed securities — 226 — — 126,525 73 Other debt securities (1) — 503 409 — 48,721 345 Total debt securities — 729 409 32,868 227,071 469 Total marketable equity securities — — — — 484 — Total available-for-sale securities — 729 409 32,868 227,555 469 Derivatives (trading and other assets) — — — — 224 — Derivatives (liabilities) — — — — (221 ) — Other liabilities (2) — — — — (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 | Table 13.2 presents the balances of assets and liabilities recorded at fair value on a recurring basis. Table 13.2: Fair Value on a Recurring Basis (in millions) Level 1 Level 2 Level 3 Netting Total June 30, 2016 Trading assets (excluding derivatives) Securities of U.S. Treasury and federal agencies $ 17,551 4,439 — — 21,990 Securities of U.S. states and political subdivisions — 2,443 7 — 2,450 Collateralized loan obligations — 380 249 — 629 Corporate debt securities 25 8,361 36 — 8,422 Mortgage-backed securities — 20,690 — — 20,690 Asset-backed securities — 939 — — 939 Equity securities 14,626 196 — — 14,822 Total trading securities (1) 32,202 37,448 292 — 69,942 Other trading assets — 1,582 33 — 1,615 Total trading assets (excluding derivatives) 32,202 39,030 325 — 71,557 Securities of U.S. Treasury and federal agencies 24,788 3,151 — — 27,939 Securities of U.S. states and political subdivisions — 52,231 1,793 (2) — 54,024 Mortgage-backed securities: Federal agencies — 95,868 — — 95,868 Residential — 8,270 1 — 8,271 Commercial — 11,573 94 — 11,667 Total mortgage-backed securities — 115,711 95 — 115,806 Corporate debt securities 62 12,847 471 — 13,380 Collateralized loan and other debt obligations (3) — 33,330 951 (2) — 34,281 Asset-backed securities: Automobile loans and leases — 12 — — 12 Home equity loans — 387 — — 387 Other asset-backed securities — 4,750 1,117 (2) — 5,867 Total asset-backed securities — 5,149 1,117 — 6,266 Other debt securities — 8 — — 8 Total debt securities 24,850 222,427 4,427 — 251,704 Marketable equity securities: Perpetual preferred securities 270 464 — — 734 Other marketable equity securities 568 — — — 568 Total marketable equity securities 838 464 — — 1,302 Total available-for-sale securities 25,688 222,891 4,427 — 253,006 Mortgages held for sale — 19,157 1,084 — 20,241 Loans — — 5,032 — 5,032 Mortgage servicing rights (residential) — — 10,396 — 10,396 Derivative assets: Interest rate contracts 32 120,614 714 — 121,360 Commodity contracts — 2,892 28 — 2,920 Equity contracts 3,401 2,932 1,017 — 7,350 Foreign exchange contracts 48 10,927 — — 10,975 Credit contracts — 297 296 — 593 Netting — — — (122,199 ) (4) (122,199 ) Total derivative assets (5) 3,481 137,662 2,055 (122,199 ) 20,999 Other assets – excluding nonmarketable equity investments at NAV — 8 3,038 — 3,046 Total assets included in the fair value hierarchy $ 61,371 418,748 26,357 (122,199 ) 384,277 Other assets – nonmarketable equity investments at NAV (6) — Total assets recorded at fair value $ 384,277 Derivative liabilities: Interest rate contracts $ (44 ) (110,752 ) (24 ) — (110,820 ) Commodity contracts — (3,275 ) (7 ) — (3,282 ) Equity contracts (1,006 ) (3,219 ) (1,269 ) — (5,494 ) Foreign exchange contracts (50 ) (11,404 ) — — (11,454 ) Credit contracts — (329 ) (235 ) — (564 ) Other derivative contracts — — (88 ) — (88 ) Netting — — — 116,219 (4) 116,219 Total derivative liabilities (5) (1,100 ) (128,979 ) (1,623 ) 116,219 (15,483 ) Short sale liabilities: Securities of U.S. Treasury and federal agencies (9,340 ) (897 ) — — (10,237 ) Corporate debt securities — (4,777 ) — — (4,777 ) Equity securities (1,808 ) (30 ) — — (1,838 ) Other securities — (97 ) — — (97 ) Total short sale liabilities (11,148 ) (5,801 ) — — (16,949 ) Other liabilities (excluding derivatives) — — (5 ) — (5 ) Total liabilities recorded at fair value $ (12,248 ) (134,780 ) (1,628 ) 116,219 (32,437 ) (1) Net gains (losses) from trading activities recognized in the income statement for the first half of June 30, 2016 and 2015 include $1.1 billion and $(470) million in net unrealized gains (losses) on trading securities held at June 30, 2016 and 2015 , respectively. (2) 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. (3) Includes collateralized debt obligations of $719 million . (4) Represents balance sheet netting of derivative asset and liability balances and related cash collateral. See Note 12 (Derivatives) for additional information. (5) Derivative assets and derivative liabilities include contracts qualifying for hedge accounting, economic hedges, and derivatives included in trading assets and trading liabilities, respectively. (6) Consists of certain nonmarketable equity investments that are measured at fair value using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy. (continued on following page) (continued from previous page) (in millions) Level 1 Level 2 Level 3 Netting Total December 31, 2015 Trading assets (excluding derivatives) Securities of U.S. Treasury and federal agencies $ 13,357 3,469 — — 16,826 Securities of U.S. states and political subdivisions — 1,667 8 — 1,675 Collateralized loan obligations — 346 343 — 689 Corporate debt securities — 7,909 56 — 7,965 Mortgage-backed securities — 20,619 — — 20,619 Asset-backed securities — 1,005 — — 1,005 Equity securities 15,010 101 — — 15,111 Total trading securities (1) 28,367 35,116 407 — 63,890 Other trading assets — 891 34 — 925 Total trading assets (excluding derivatives) 28,367 36,007 441 — 64,815 Securities of U.S. Treasury and federal agencies 32,868 3,382 — — 36,250 Securities of U.S. states and political subdivisions — 48,490 1,500 (2) — 49,990 Mortgage-backed securities: Federal agencies — 104,546 — — 104,546 Residential — 8,557 1 — 8,558 Commercial — 14,015 73 — 14,088 Total mortgage-backed securities — 127,118 74 — 127,192 Corporate debt securities 54 14,952 405 — 15,411 Collateralized loan and other debt obligations (3) — 30,402 565 (2) — 30,967 Asset-backed securities: Automobile loans and leases — 15 — — 15 Home equity loans — 414 — — 414 Other asset-backed securities — 4,290 1,182 (2) — 5,472 Total asset-backed securities — 4,719 1,182 — 5,901 Other debt securities — 10 — — 10 Total debt securities 32,922 229,073 3,726 — 265,721 Marketable equity securities: Perpetual preferred securities 434 484 — — 918 Other marketable equity securities 719 — — — 719 Total marketable equity securities 1,153 484 — — 1,637 Total available-for-sale securities 34,075 229,557 3,726 — 267,358 Mortgages held for sale — 12,457 1,082 — 13,539 Loans — — 5,316 — 5,316 Mortgage servicing rights (residential) — — 12,415 — 12,415 Derivative assets: Interest rate contracts 16 62,390 319 — 62,725 Commodity contracts — 4,623 36 — 4,659 Equity contracts 3,726 2,907 966 — 7,599 Foreign exchange contracts 48 8,899 — — 8,947 Credit contracts — 375 275 — 650 Netting — — — (66,924 ) (4) (66,924 ) Total derivative assets (5) 3,790 79,194 1,596 (66,924 ) 17,656 Other assets – excluding nonmarketable equity investments at NAV — — 3,065 — 3,065 Total assets included in the fair value hierarchy $ 66,232 357,215 27,641 (66,924 ) 384,164 Other assets – nonmarketable equity investments at NAV (6) 23 Total assets recorded at fair value $ 384,187 Derivative liabilities: Interest rate contracts $ (41 ) (57,905 ) (31 ) — (57,977 ) Commodity contracts — (5,495 ) (24 ) — (5,519 ) Equity contracts (704 ) (3,027 ) (1,077 ) — (4,808 ) Foreign exchange contracts (37 ) (10,896 ) — — (10,933 ) Credit contracts — (351 ) (278 ) — (629 ) Other derivative contracts — — (58 ) — (58 ) Netting — — — 66,004 (4) 66,004 Total derivative liabilities (5) (782 ) (77,674 ) (1,468 ) 66,004 (13,920 ) Short sale liabilities: Securities of U.S. Treasury and federal agencies (8,621 ) (1,074 ) — — (9,695 ) Corporate debt securities — (4,209 ) — — (4,209 ) Equity securities (1,692 ) (4 ) — — (1,696 ) Other securities — (70 ) — — (70 ) Total short sale liabilities (10,313 ) (5,357 ) — — (15,670 ) Other liabilities (excluding derivatives) — — (30 ) — (30 ) Total liabilities recorded at fair value $ (11,095 ) (83,031 ) (1,498 ) 66,004 (29,620 ) (1) Net gains (losses) from trading activities recognized in the income statement for the year ended December 31, 2015 , include $(1.0) billion in net unrealized gains (losses) on trading securities held at December 31, 2015 . (2) 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. (3) Includes collateralized debt obligations of $257 million . (4) Represents balance sheet netting of derivative asset and liability balances and related cash collateral. See Note 12 (Derivatives) for additional information. (5) Derivative assets and derivative liabilities include contracts qualifying for hedge accounting, economic hedges, and derivatives included in trading assets and trading liabilities, respectively. (6) Consists of certain nonmarketable equity inv |
Fair Value, Transfers Between Fair Value Levels | Table 13.3: Transfers Between Fair Value Levels Transfers Between Fair Value Levels Level 1 Level 2 Level 3 (1) (in millions) In Out In Out In Out Total Quarter ended June 30, 2016 Trading assets (excluding derivatives) $ — (4 ) 4 — — — — Available-for-sale securities — — 16 — — (16 ) — Mortgages held for sale — — 7 (25 ) 25 (7 ) — Net derivative assets and liabilities (2) — — (12 ) (3 ) 3 12 — Short sale liabilities — — — — — — — Total transfers $ — (4 ) 15 (28 ) 28 (11 ) — Quarter ended June 30, 2015 Trading assets (excluding derivatives) $ — — 83 — — (83 ) — Available-for-sale securities (3) — — 24 — — (24 ) — Mortgages held for sale — — 386 (53 ) 53 (386 ) — Net derivative assets and liabilities (2) — — 18 — — (18 ) — Short sale liabilities — — — — — — — Total transfers $ — — 511 (53 ) 53 (511 ) — Six months ended June 30, 2016 Trading assets (excluding derivatives) $ 4 (4 ) 15 (4 ) — (11 ) — Available-for-sale securities — — 16 (80 ) 80 (16 ) — Mortgages held for sale — — 9 (54 ) 54 (9 ) — Net derivative assets and liabilities (2) — — 50 (28 ) 28 (50 ) — Short sale liabilities (1 ) — — 1 — — — Total transfers $ 3 (4 ) 90 (165 ) 162 (86 ) — Six months ended June 30, 2015 Trading assets (excluding derivatives) $ 16 (3 ) 93 (16 ) 1 (91 ) — Available-for-sale securities (3) — — 76 — — (76 ) — Mortgages held for sale — — 453 (95 ) 95 (453 ) — Net derivative assets and liabilities (2) — — 52 12 (12 ) (52 ) — Short sale liabilities (1 ) — — 1 — — — Total transfers $ 15 (3 ) 674 (98 ) 84 (672 ) — (1) All transfers in and out of Level 3 are disclosed within the recurring Level 3 rollforward tables in this Note. (2) Includes transfers of net derivative assets and net derivative liabilities between levels due to changes 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. |
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 June 30, 2016 , are presented in Table 13.4 . Table 13.4: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – Quarter ended June 30, 2016 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 June 30, 2016 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 8 — — (1 ) — — 7 — Collateralized loan obligations 268 1 — (20 ) — — 249 (4 ) Corporate debt securities 33 (3 ) — 6 — — 36 (2 ) Mortgage-backed securities — — — — — — — — Asset-backed securities — — — — — — — — Equity securities — — — — — — — — Total trading securities 309 (2 ) — (15 ) — — 292 (6 ) Other trading assets 32 1 — — — — 33 3 Total trading assets (excluding derivatives) 341 (1 ) — (15 ) — — 325 (3 ) (3) Available-for-sale securities: Securities of U.S. states and political subdivisions 1,457 3 1 348 — (16 ) 1,793 — Mortgage-backed securities: Residential 1 — — — — — 1 — Commercial 73 — — 21 — — 94 — Total mortgage-backed securities 74 — — 21 — — 95 — Corporate debt securities 453 3 9 6 — — 471 — Collateralized loan and other debt obligations 813 8 4 126 — — 951 — Asset-backed securities: Automobile loans and leases — — — — — — — — Other asset-backed securities 1,240 2 (7 ) (118 ) — — 1,117 (4 ) Total asset-backed securities 1,240 2 (7 ) (118 ) — — 1,117 (4 ) Total debt securities 4,037 16 7 383 — (16 ) 4,427 (4 ) (4) Marketable equity securities: Perpetual preferred securities — — — — — — — — Other marketable equity securities — — — — — — — — Total marketable equity securities — — — — — — — — (5) Total available-for-sale securities 4,037 16 7 383 — (16 ) 4,427 (4 ) Mortgages held for sale 1,071 6 — (11 ) 25 (7 ) 1,084 6 (6) Loans 5,221 (3 ) — (186 ) — — 5,032 (4 ) (6) Mortgage servicing rights (residential) (7) 11,333 (1,392 ) — 455 — — 10,396 (824 ) (6) Net derivative assets and liabilities: Interest rate contracts 501 660 — (471 ) — — 690 357 Commodity contracts 11 6 — 1 3 — 21 9 Equity contracts (283 ) 9 — 10 — 12 (252 ) (7 ) Credit contracts — (1 ) — 62 — — 61 (4 ) Other derivative contracts (77 ) (9 ) — (2 ) — — (88 ) (10 ) Total derivative contracts 152 665 — (400 ) 3 12 432 345 (8) Other assets 3,097 (181 ) — 122 — — 3,038 (181 ) (5) Short sale liabilities — — — — — — — — (3) Other liabilities (excluding derivatives) (5 ) — — — — — (5 ) — (6) (1) See Table 13.5 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) Table 13.5 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 June 30, 2016 . Table 13.5: Gross Purchases, Sales, Issuances and Settlements – Level 3 – Quarter ended June 30, 2016 (in millions) Purchases Sales Issuances Settlements Net Quarter ended June 30, 2016 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 2 (2 ) — (1 ) (1 ) Collateralized loan obligations 134 (154 ) — — (20 ) Corporate debt securities 10 (4 ) — — 6 Mortgage-backed securities — — — — — Asset-backed securities — — — — — Equity securities — — — — — Total trading securities 146 (160 ) — (1 ) (15 ) Other trading assets — — — — — Total trading assets (excluding derivatives) 146 (160 ) — (1 ) (15 ) Available-for-sale securities: Securities of U.S. states and political subdivisions — (7 ) 459 (104 ) 348 Mortgage-backed securities: Residential — — — — — Commercial 22 — — (1 ) 21 Total mortgage-backed securities 22 — — (1 ) 21 Corporate debt securities 6 — — — 6 Collateralized loan and other debt obligations 188 (4 ) — (58 ) 126 Asset-backed securities: Automobile loans and leases — — — — — Other asset-backed securities — (28 ) 38 (128 ) (118 ) Total asset-backed securities — (28 ) 38 (128 ) (118 ) Total debt securities 216 (39 ) 497 (291 ) 383 Marketable equity securities: Perpetual preferred securities — — — — — Other marketable equity securities — — — — — Total marketable equity securities — — — — — Total available-for-sale securities 216 (39 ) 497 (291 ) 383 Mortgages held for sale 22 (152 ) 164 (45 ) (11 ) Loans 8 — 84 (278 ) (186 ) Mortgage servicing rights (residential) — (22 ) 477 — 455 Net derivative assets and liabilities: Interest rate contracts — — — (471 ) (471 ) Commodity contracts — — — 1 1 Equity contracts 16 1 — (7 ) 10 Credit contracts — (1 ) — 63 62 Other derivative contracts — — — (2 ) (2 ) Total derivative contracts 16 — — (416 ) (400 ) Other assets 122 — — — 122 Short sale liabilities — — — — — Other liabilities (excluding derivatives) — — — — — The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarter ended June 30, 2015 , are presented in Table 13.6 . Table 13.6: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – Quarter ended June 30, 2015 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 June 30, 2015 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 6 — — 2 — — 8 — Collateralized loan obligations 381 21 — 5 — — 407 13 Corporate debt securities 31 — — 4 — (2 ) 33 — Mortgage-backed securities — — — — — — — — Asset-backed securities 81 — — — — (81 ) — — Equity securities 10 1 — (10 ) — — 1 — Total trading securities 509 22 — 1 — (83 ) 449 13 Other trading assets 64 (1 ) — (1 ) — — 62 1 Total trading assets (excluding derivatives) 573 21 — — — (83 ) 511 14 (3) Available-for-sale securities: Securities of U.S. states and political subdivisions 1,980 4 (12 ) (59 ) — (24 ) 1,889 — Mortgage-backed securities: Residential — — — — — — — — Commercial 104 — (1 ) — — — 103 — Total mortgage-backed securities 104 — (1 ) — — — 103 — Corporate debt securities 312 3 (3 ) 22 — — 334 2 Collateralized loan and other debt obligations 1,053 32 5 (166 ) — — 924 — Asset-backed securities: Automobile loans and leases 249 — 11 — — — 260 — Other asset-backed securities 1,206 1 2 111 — — 1,320 — Total asset-backed securities 1,455 1 13 111 — — 1,580 — Total debt securities 4,904 40 2 (92 ) — (24 ) 4,830 2 (4) Marketable equity securities: Perpetual preferred securities 640 — — — — (640 ) — — Other marketable equity securities — — — — — — — — Total marketable equity securities 640 — — — — (640 ) — — (5) Total available-for-sale securities 5,544 40 2 (92 ) — (664 ) 4,830 2 Mortgages held for sale 2,098 (1 ) — (141 ) 53 (386 ) 1,623 (8 ) (6) Loans 5,730 (41 ) — (38 ) — — 5,651 (37 ) (6) Mortgage servicing rights (residential) (7) 11,739 499 — 423 — — 12,661 1,053 (6) Net derivative assets and liabilities: Interest rate contracts 438 (57 ) — (129 ) — — 252 8 Commodity contracts (2 ) 3 — 2 — — 3 3 Equity contracts (186 ) 57 — (38 ) — (18 ) (185 ) 43 Credit contracts (154 ) 3 — 34 — — (117 ) (9 ) Other derivative contracts (52 ) 14 — — — — (38 ) 14 Total derivative contracts 44 20 — (131 ) — (18 ) (85 ) 59 (8) Other assets 2,549 (9 ) — 96 — — 2,636 (8 ) (5) Short sale liabilities (15 ) — — 14 — — (1 ) — (3) Other liabilities (excluding derivatives) (27 ) (3 ) — — — — (30 ) — (6) (1) See Table 13.7 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) Table 13.7 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 June 30, 2015 . Table 13.7: Gross Purchases, Sales, Issuances and Settlements – Level 3 – Quarter ended June 30, 2015 (in millions) Purchases Sales Issuances Settlements Net Quarter ended June 30, 2015 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 3 (1 ) — — 2 Collateralized loan obligations 508 (503 ) — — 5 Corporate debt securities 12 (8 ) — — 4 Mortgage-backed securities — — — — — Asset-backed securities — — — — — Equity securities — — — (10 ) (10 ) Total trading securities 523 (512 ) — (10 ) 1 Other trading assets — (1 ) — — (1 ) Total trading assets (excluding derivatives) 523 (513 ) — (10 ) — Available-for-sale securities: Securities of U.S. states and political subdivisions — (21 ) 239 (277 ) (59 ) Mortgage-backed securities: Residential — — — — — Commercial — — — — — Total mortgage-backed securities — — — — — Corporate debt securities 36 (8 ) — (6 ) 22 Collateralized loan and other debt obligations 15 (99 ) — (82 ) (166 ) Asset-backed securities: Automobile loans and leases — — — — — Other asset-backed securities — — 179 (68 ) 111 Total asset-backed securities — — 179 (68 ) 111 Total debt securities 51 (128 ) 418 (433 ) (92 ) Marketable equity securities: Perpetual preferred securities — — — — — Other marketable equity securities — — — — — Total marketable equity securities — — — — — Total available-for-sale securities 51 (128 ) 418 (433 ) (92 ) Mortgages held for sale 67 (332 ) 226 (102 ) (141 ) Loans 1 — 99 (138 ) (38 ) Mortgage servicing rights (residential) — — 428 (5 ) 423 Net derivative assets and liabilities: Interest rate contracts — — — (129 ) (129 ) Commodity contracts — — — 2 2 Equity contracts 15 (39 ) — (14 ) (38 ) Credit contracts 4 (2 ) — 32 34 Other derivative contracts — — — — — Total derivative contracts 19 (41 ) — (109 ) (131 ) Other assets 96 — — — 96 Short sale liabilities 14 — — — 14 Other liabilities (excluding derivatives) — — — — — The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the first half of 2016 , are presented in Table 13.8 . Table 13.8: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – Six months ended June 30, 2016 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) Six months ended June 30, 2016 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 8 — — (1 ) — — 7 — Collateralized loan obligations 343 (24 ) — (59 ) — (11 ) 249 (25 ) Corporate debt securities 56 (8 ) — (12 ) — — 36 (6 ) Mortgage-backed securities — — — — — — — — Asset-backed securities — — — — — — — — Equity securities — — — — — — — — Total trading securities 407 (32 ) — (72 ) — (11 ) 292 (31 ) Other trading assets 34 (1 ) — — — — 33 3 Total trading assets (excluding derivatives) 441 (33 ) — (72 ) — (11 ) 325 (28 ) (3) Available-for-sale securities: Securities of U.S. states and political subdivisions 1,500 4 4 221 80 (16 ) 1,793 — Mortgage-backed securities: Residential 1 — — — — — 1 — Commercial 73 — — 21 — — 94 — Total mortgage-backed securities 74 — — 21 — — 95 — Corporate debt securities 405 5 28 33 — — 471 — Collateralized loan and other debt obligations 565 23 (20 ) 383 — — 951 — Asset-backed securities: Automobile loans and leases — — — — — — — — Other asset-backed securities 1,182 2 (7 ) (60 ) — — 1,117 (4 ) Total asset-backed securities 1,182 2 (7 ) (60 ) — — 1,117 (4 ) Total debt securities 3,726 34 5 598 80 (16 ) 4,427 (4 ) (4) Marketable equity securities: Perpetual preferred securities — — — — — — — — Other marketable equity securities — — — — — — — — Total marketable equity securities — — — — — — — — (5) Total available-for-sale securities 3,726 34 5 598 80 (16 ) 4,427 (4 ) Mortgages held for sale 1,082 30 — (73 ) 54 (9 ) 1,084 27 (6) Loans 5,316 (4 ) — (280 ) — — 5,032 (6 ) (6) Mortgage servicing rights (residential) (7) 12,415 (2,840 ) — 821 — — 10,396 (1,781 ) (6) Net derivative assets and liabilities: Interest rate contracts 288 1,259 — (850 ) — (7 ) 690 458 Commodity contracts 12 8 — (2 ) 3 — 21 13 Equity contracts (111 ) 7 — (130 ) 25 (43 ) (252 ) (160 ) Credit contracts (3 ) 8 — 56 — — 61 4 Other derivative contracts (58 ) (30 ) — — — — (88 ) (30 ) Total derivative contracts 128 1,252 — (926 ) 28 (50 ) 432 285 (8) Other assets 3,065 (238 ) — 211 — — 3,038 (239 ) (5) Short sale liabilities — — — — — — — — (3) Other liabilities (excluding derivatives) (30 ) — — 25 — — (5 ) — (6) (1) See Table 13.9 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) Table 13.9 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 half of 2016 . Table 13.9: Gross Purchases, Sales, Issuances and Settlements – Level 3 – Six months ended June 30, 2016 (in millions) Purchases Sales Issuances Settlements Net Six months ended June 30, 2016 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 2 (2 ) — (1 ) (1 ) Collateralized loan obligations 190 (249 ) — — (59 ) Corporate debt securities 13 (25 ) — — (12 ) Mortgage-backed securities — — — — — Asset-backed securities — — — — — Equity securities — — — — — Total trading securities 205 (276 ) — (1 ) (72 ) Other trading assets — — — — — Total trading assets (excluding derivatives) 205 (276 ) — (1 ) (72 ) Available-for-sale securities: Securities of U.S. states and political subdivisions 28 (7 ) 475 (275 ) 221 Mortgage-backed securities: Residential — — — — — Commercial 22 — — (1 ) 21 Total mortgage-backed securities 22 — — (1 ) 21 Corporate debt securities 34 — — (1 ) 33 Collateralized loan and other debt obligations 489 (4 ) — (102 ) 383 Asset-backed securities: Automobile loans and leases — — — — — Other asset-backed securities — (28 ) 198 (230 ) (60 ) Total asset-backed securities — (28 ) 198 (230 ) (60 ) Total debt securities 573 (39 ) 673 (609 ) 598 Marketable equity securities: Perpetual preferred securities — — — — — Other marketable equity securities — — — — — Total marketable equity securities — — — — — Total available-for-sale securities 573 (39 ) 673 (609 ) 598 Mortgages held for sale 44 (311 ) 282 (88 ) (73 ) Loans 12 — 172 (464 ) (280 ) Mortgage servicing rights (residential) — (22 ) 843 — 821 Net derivative assets and liabilities: Interest rate contracts — — — (850 ) (850 ) Commodity contracts — — — (2 ) (2 ) Equity contracts 29 (146 ) — (13 ) (130 ) Credit contracts 3 (1 ) — 54 56 Other derivative contracts — — — — — Total derivative contracts 32 (147 ) — (811 ) (926 ) Other assets 211 — — — 211 Short sale liabilities — — — — — Other liabilities (excluding derivatives) — — — 25 25 The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the first half of 2015 , are presented in Table 13.10 . Table 13.10: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – Six months ended June 30, 2015 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) Six months ended June 30, 2015 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 7 — — 1 — — 8 — Collateralized loan obligations 445 42 — (80 ) — — 407 7 Corporate debt securities 54 2 — (14 ) — (9 ) 33 (1 ) Mortgage-backed securities — — — — — — — — Asset-backed securities 79 16 — (14 ) — (81 ) — — Equity securities 10 1 — (10 ) — — 1 — Total trading securities 595 61 — (117 ) — (90 ) 449 6 Other trading assets 55 5 — 2 1 (1 ) 62 9 Total trading assets (excluding derivatives) 650 66 — (115 ) 1 (91 ) 511 15 (3) Available-for-sale securities: Securities of U.S. states and political subdivisions 2,277 3 (15 ) (300 ) — (76 ) 1,889 (5 ) Mortgage-backed securities: Residential 24 4 (6 ) (22 ) — — — — Commercial 109 1 (2 ) (5 ) — — 103 — Total mortgage-backed securities 133 5 (8 ) (27 ) — — 103 — Corporate debt securities 252 3 (3 ) 82 — — 334 2 Collateralized loan and other debt obligations 1,087 61 (11 ) (213 ) — — 924 — Asset-backed securities: Automobile loans and leases 245 — 15 — — — 260 — Other asset-backed securities 1,372 2 (9 ) (45 ) — — 1,320 — Total asset-backed securities 1,617 2 6 (45 ) — — 1,580 — Total debt securities 5,366 74 (31 ) (503 ) — (76 ) 4,830 (3 ) (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 77 (33 ) (527 ) — (716 ) 4,830 (3 ) Mortgages held for sale 2,313 37 — (369 ) 95 (453 ) 1,623 6 (6) Loans 5,788 (47 ) — (90 ) — — 5,651 (37 ) (6) Mortgage servicing rights (residential) (7) 12,738 (807 ) — 730 — — 12,661 280 (6) Net derivative assets and liabilities: Interest rate contracts 293 425 — (466 ) — — 252 57 Commodity contracts 1 2 — 2 (2 ) — 3 1 Equity contracts (84 ) 50 — (89 ) (10 ) (52 ) (185 ) (14 ) Credit contracts (189 ) 1 — 71 — — (117 ) (5 ) Other derivative contracts (44 ) 6 — — — — (38 ) 6 Total derivative contracts (23 ) 484 — (482 ) (12 ) (52 ) (85 ) 45 (8) Other assets 2,512 28 — 96 — — 2,636 29 (5) Short sale liabilities (6 ) — — 5 — — (1 ) — (3) Other liabilities (excluding derivatives) (28 ) (2 ) — — — — (30 ) — (6) (1) See Table 13.11 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) Table 13.11 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 half of 2015 . Table 13.11: Gross Purchases, Sales, Issuances and Settlements – Level 3 – Six months ended June 30, 2015 (in millions) Purchases Sales Issuances Settlements Net Six months ended June 30, 2015 Trading assets (excluding derivatives): Securities of U.S. states and political subdivisions $ 3 (2 ) — — 1 Collateralized loan obligations 908 (988 ) — — (80 ) Corporate debt securities 27 (41 ) — — (14 ) Mortgage-backed securities — — — — — Asset-backed securities — (5 ) — (9 ) (14 ) Equity securities — — — (10 ) (10 ) Total trading securities 938 (1,036 ) — (19 ) (117 ) Other trading assets 3 (1 ) — — 2 Total trading assets (excluding derivatives) 941 (1,037 ) — (19 ) (115 ) Available-for-sale securities: Securities of U.S. states and political subdivisions — (41 ) 294 (553 ) (300 ) Mortgage-backed securities: Residential — (22 ) — — (22 ) Commercial — (5 ) — — (5 ) Total mortgage-backed securities — (27 ) — — (27 ) Corporate debt securities 96 (8 ) — (6 ) 82 Collateralized loan and other debt obligations 59 (102 ) — (170 ) (213 ) Asset-backed securities: Automobile loans and leases — — — — — Other asset-backed securities — (1 ) 238 (282 ) (45 ) Total asset-backed securities — (1 ) 238 (282 ) (45 ) Total debt securities 155 (179 ) 532 (1,011 ) (503 ) Marketable equity securities: Perpetual preferred securities — — — (24 ) (24 ) Other marketable equity securities — — — — — Total marketable equity securities — — — (24 ) (24 ) Total available-for-sale securities 155 (179 ) 532 (1,035 ) (527 ) Mortgages held for sale 120 (623 ) 346 (212 ) (369 ) Loans 67 — 194 (351 ) (90 ) Mortgage servicing rights (residential) — (1 ) 736 (5 ) 730 Net derivative assets and liabilities: Interest rate contracts — — — (466 ) (466 ) Commodity contracts — — — 2 2 Equity contracts 15 (71 ) — (33 ) (89 ) Credit contracts 6 (2 ) — 67 71 Other derivative contracts — — — — — Total derivative contracts 21 (73 ) — (430 ) (482 ) Other assets 96 — — — 96 Short sale liabilities 20 (15 ) — — 5 Other liabilities (excluding derivatives) — — — — — |
Fair Value, Assets and Liabilities Measured on Recurring Basis, Quantative Information about Valuation Techniques and Unobservable Inputs | Table 13.12 and Table 13.13 provide 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 2015 Form 10-K. Table 13.12: Valuation Techniques – Recurring Basis – June 30, 2016 ($ in millions, except cost to service amounts) Fair Value Level 3 Valuation Technique(s) Significant Unobservable Input Range of Inputs Weighted Average (1) June 30, 2016 Trading and available-for-sale securities: Securities of U.S. states and political subdivisions: Government, healthcare and other revenue bonds $ 1,538 Discounted cash flow Discount rate 0.7 - 4.8 % 1.4 49 Vendor priced Auction rate securities and other municipal bonds 213 Discounted cash flow Discount rate 0.9 - 4.8 2.8 Weighted average life 2.3 - 17.6 yrs 8.2 Collateralized loan and other debt obligations (2) 249 Market comparable pricing Comparability adjustment (18.0 ) - 19.8 % 2.8 951 Vendor priced Asset-backed securities: Diversified payment rights (3) 499 Discounted cash flow Discount rate 1.1 - 3.8 2.4 Other commercial and consumer 612 (4) Discounted cash flow Discount rate 2.5 - 5.4 3.0 Weighted average life 1.1 - 8.3 yrs 3.2 6 Vendor priced Mortgages held for sale (residential) 1,045 Discounted cash flow Default rate 0.5 - 11.5 % 2.2 Discount rate 1.1 - 6.6 4.7 Loss severity 0.0 - 39.8 21.3 Prepayment rate 8.3 - 15.5 10.9 39 Market comparable pricing Comparability adjustment (53.3 ) - 0.0 (33.9 ) Loans 5,032 (5) Discounted cash flow Discount rate 0.0 - 3.1 2.6 Prepayment rate 0.5 - 100.0 18.4 Utilization rate 0.0 - 0.8 0.3 Mortgage servicing rights (residential) 10,396 Discounted cash flow Cost to service per loan (6) $ 70 - 572 162 Discount rate 5.7 - 10.8 % 6.2 Prepayment rate (7) 10.8 - 23.3 13.6 Net derivative assets and (liabilities): Interest rate contracts 405 Discounted cash flow Default rate 0.1 - 9.6 2.5 Loss severity 50.0 - 50.0 50.0 Prepayment rate 2.8 - 12.5 9.7 Interest rate contracts: derivative loan commitments 285 Discounted cash flow Fall-out factor 1.0 - 99.0 23.5 Initial-value servicing (25.9 ) - 132.6 bps 63.6 Equity contracts 84 Discounted cash flow Conversion factor (10.8 ) - 0.0 % (8.0 ) Weighted average life 2.0 - 3.5 yrs 2.4 (336 ) Option model Correlation factor (77.0 ) - 98.5 % 46.3 Volatility factor 6.5 - 100.0 26.8 Credit contracts (25 ) Market comparable pricing Comparability adjustment (24.1 ) - 21.7 % 0.2 86 Option model Credit spread 0.0 - 8.9 1.4 Loss severity 13.0 - 60.0 51.1 Other assets: nonmarketable equity investments 11 Discounted cash flow Discount rate 5.0 10.3 6.0 3,027 Market comparable pricing Comparability adjustment (23.9 ) - (7.1 ) (17.8 ) Insignificant Level 3 assets, net of liabilities 563 (8) Total level 3 assets, net of liabilities $ 24,729 (9) (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 $719 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 reverse mortgage loans. (6) The high end of the range of inputs is for servicing modified loans. For non-modified loans the range is $70 - $321 . (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) 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, other trading assets, other liabilities and certain net derivative assets and liabilities, such as commodity contracts and other derivative contracts. (9) Consists of total Level 3 assets of $26.4 billion and total Level 3 liabilities of $1.6 billion , before netting of derivative balances. Table 13.13: Valuation Techniques – Recurring Basis – December 31, 2015 ($ in millions, except cost to service amounts) Fair Value Level 3 Valuation Technique(s) Significant Unobservable Input Range of Inputs Weighted December 31, 2015 Trading and available-for-sale securities: Securities of U.S. states and political subdivisions: Government, healthcare and other revenue bonds $ 1,213 Discounted cash flow Discount rate 0.8 - 5.6 % 1.9 51 Vendor priced Auction rate securities and other municipal bonds 244 Discounted cash flow Discount rate 0.8 - 4.5 2.0 Weighted average life 1.0 - 10.0 yrs 4.7 Collateralized loan and other debt obligations (2) 343 Market comparable pricing Comparability adjustment (20.0 ) - 20.3 % 2.9 565 Vendor priced Asset-backed securities: Diversified payment rights (3) 608 Discounted cash flow Discount rate 1.0 - 5.0 3.2 Other commercial and consumer 508 (4) Discounted cash flow Discount rate 2.5 - 6.3 3.8 Weighted average life 1.0 - 9.4 yrs 4.3 66 Vendor priced Mortgages held for sale (residential) 1,033 Discounted cash flow Default rate 0.5 - 13.7 % 3.6 Discount rate 1.1 - 6.3 4.7 Loss severity 0.1 - 22.7 11.2 Prepayment rate 2.6 - 9.6 6.4 49 Market comparable pricing Comparability adjustment (53.3 ) - 0.0 (32.6 ) Loans 5,316 (5) Discounted cash flow Discount rate 0.0 - 3.9 3.1 Prepayment rate 0.2 - 100.0 14.6 Utilization rate 0.0 - 0.8 0.3 Mortgage servicing rights (residential) 12,415 Discounted cash flow Cost to service per loan (6) $ 70 - 599 168 Discount rate 6.8 - 11.8 % 7.3 Prepayment rate (7) 10.1 - 18.9 11.4 Net derivative assets and (liabilities): Interest rate contracts 230 Discounted cash flow Default rate 0.1 - 9.6 2.6 Loss severity 50.0 - 50.0 50.0 Prepayment rate 0.3 - 2.5 2.2 Interest rate contracts: derivative loan commitments 58 (8) Discounted cash flow Fall-out factor 1.0 - 99.0 18.8 Initial-value servicing (30.6 ) - 127.0 bps 41.5 Equity contracts 72 Discounted cash flow Conversion factor (10.6 ) - 0.0 % (8.1 ) Weighted average life 0.5 - 2.0 yrs 1.5 (183 ) Option model Correlation factor (77.0 ) - 98.5 % 66.0 Volatility factor 6.5 - 91.3 24.2 Credit contracts (9 ) Market comparable pricing Comparability adjustment (53.6 ) - 18.2 (0.6 ) 6 Option model Credit spread 0.0 - 19.9 1.6 Loss severity 13.0 - 73.0 49.6 Other assets: nonmarketable equity investments 3,065 Market comparable pricing Comparability adjustment (19.1 ) - (5.5 ) (15.1 ) Insignificant Level 3 assets, net of liabilities 493 (9) Total level 3 assets, net of liabilities $ 26,143 (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 $257 million of collateralized debt obligations. (3) Securities backed by specified sources of current and future receivables generated from foreign originators. (4) Consists largely 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 reverse mortgage loans. (6) The high end of the range of inputs is for servicing modified loans. For non-modified loans the range is $70 - $335 . (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 $56 million , of which a $2 million derivative liability was classified as level 2 at December 31, 2015. (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, other trading 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 $27.6 billion and total Level 3 liabilities of $1.5 billion , before netting of derivative balances. |
Fair Value, Assets Recorded at Fair Value on a Nonrecurring Basis | Table 13.14 provides the fair value hierarchy and carrying amount of all assets that were still held as of June 30, 2016 , and December 31, 2015 , and for which a nonrecurring fair value adjustment was recorded during the periods presented. Table 13.14: Fair Value on a Nonrecurring Basis June 30, 2016 December 31, 2015 (in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Mortgages held for sale (LOCOM) (1) $ — 1,476 1,246 2,722 — 4,667 1,047 5,714 Loans held for sale — 197 — 197 — 279 — 279 Loans: Commercial — 605 — 605 — 191 — 191 Consumer — 613 6 619 — 1,406 7 1,413 Total loans (2) — 1,218 6 1,224 — 1,597 7 1,604 Other assets - excluding nonmarketable equity investments at NAV (3) — 225 394 619 — 280 368 648 Total included in the fair value hierarchy $ — 3,116 1,646 4,762 — 6,823 1,422 8,245 Other assets - nonmarketable equity investments at NAV (4) 31 286 Total assets at fair value on a nonrecurring basis $ 4,793 8,531 (1) Consists of commercial mortgages and residential 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, operating lease assets and nonmarketable equity investments. (4) Consists of certain nonmarketable equity investments that are measured at fair value on a nonrecurring basis using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy. |
Changes in Fair Value of Assets Recorded at Fair Value on Nonrecurring Basis | Table 13.15 presents the increase (decrease) in value of certain assets held at the end of the respective reporting periods presented for which a nonrecurring fair value adjustment was recognized during the reporting period. Table 13.15: Change in Value of Assets with Nonrecurring Fair Value Adjustment Six months ended June 30, (in millions) 2016 2015 Mortgages held for sale (LOCOM) $ 30 18 Loans held for sale — (1 ) Loans: Commercial (560 ) (74 ) Consumer (431 ) (601 ) Total loans (1) (991 ) (675 ) Other assets (2) (259 ) (152 ) Total $ (1,220 ) (810 ) (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 | Table 13.16 provides quantitative information about the valuation techniques and significant unobservable inputs used in the valuation of substantially all of our Level 3 assets 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 that 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. Table 13.16: Valuation Techniques – Nonrecurring Basis ($ in millions) Fair Value Level 3 Valuation Technique(s) (1) Significant Unobservable Inputs (1) Range of inputs Weighted Average (2) June 30, 2016 Residential mortgages held for sale (LOCOM) $ 1,246 (3) Discounted cash flow Default rate (4) 0.2 — 5.8 % 2.6 % Discount rate 1.5 — 8.5 3.8 Loss severity 0.8 — 45.3 2.5 Prepayment rate (5) 6.0 — 100.0 54.1 Other assets: nonmarketable equity investments — Market comparable pricing Comparability adjustment 0.0 — 0.0 0.0 178 Discounted cash flow Discount rate 7.0 — 9.0 8.0 Insignificant level 3 assets 222 Total $ 1,646 December 31, 2015 Residential mortgages held for sale (LOCOM) $ 1,047 (3) Discounted cash flow Default rate (4) 0.5 — 5.0 % 4.2 % Discount rate 1.5 — 8.5 3.5 Loss severity 0.0 — 26.1 2.9 Prepayment rate (5) 2.6 — 100.0 65.4 Other assets: nonmarketable equity investments 228 Market comparable pricing Comparability adjustment 5.0 — 9.2 8.5 — Discounted cash flow Discount rate 0.0 — 0.0 0.0 Insignificant level 3 assets 147 Total $ 1,422 (1) Refer to the narrative following Table 13.13 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 $1.2 billion and $1.0 billion of government insured/guaranteed loans purchased from GNMA-guaranteed mortgage securitizations at June 30, 2016 , and December 31, 2015 , respectively, and $38 million and $41 million of other mortgage loans that are not government insured/guaranteed at June 30, 2016 and December 31, 2015 , respectively. (4) Applies only to non-government insured/guaranteed loans. (5) Includes the impact on prepayment rate of expected defaults for the government insured/guaranteed loans, which impacts the frequency and timing of early resolution of loans. |
Fair Value Option, Carrying Amount | Table 13.17 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. Table 13.17: Fair Value Option June 30, 2016 December 31, 2015 (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 $ 1,574 1,667 (93 ) 886 935 (49 ) Nonaccrual loans 19 27 (8 ) — — — Mortgages held for sale: Total loans 20,241 19,446 795 13,539 13,265 274 Nonaccrual loans 141 187 (46 ) 161 228 (67 ) Loans 90 days or more past due and still accruing 15 19 (4 ) 19 22 (3 ) Loans held for sale: Total loans — 6 (6 ) — 5 (5 ) Nonaccrual loans — 6 (6 ) — 5 (5 ) Loans: Total loans 5,032 4,909 123 5,316 5,184 132 Nonaccrual loans 262 277 (15 ) 305 322 (17 ) Other assets (1) 3,046 N/A N/A 3,065 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 in Table 13.18 by income statement line item. Table 13.18: Fair Value Option – Changes in Fair Value Included in Earnings 2016 2015 (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 June 30, Trading assets - loans $ — 16 1 — 4 1 Mortgages held for sale 611 — — 316 — — Loans — — (3 ) — — (39 ) Other assets — — (176 ) — — (10 ) Other interests held (1) — 1 — — (2 ) — Six months ended June 30, Trading assets – loans $ — 26 1 — 19 2 Mortgages held for sale 1,176 — — 897 — — Loans — — (4 ) — — (43 ) Other assets — — (234 ) — — 28 Other interests held (1) — (1 ) — — (2 ) — (1) Includes retained interests in securitizations. |
Fair Value Option, Instrument Specific Credit Risk | Table 13.19 shows the estimated gains and losses from earnings attributable to instrument-specific credit risk related to assets accounted for under the fair value option. Table 13.19: Fair Value Option – Gains/Losses Attributable to Instrument-Specific Credit Risk Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Gains (losses) attributable to instrument-specific credit risk: Trading assets – loans $ 16 4 26 19 Mortgages held for sale (1 ) 31 (5 ) 48 Total $ 15 35 21 67 |
Fair Value, Estimated for Financial Instruments Not Carried at Fair Value | Table 13.20 is a summary of fair value estimates for financial instruments, excluding financial instruments recorded at fair value on a recurring basis, as they are included within Table 13.2 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. Table 13.20: Fair Value Estimates for Financial Instruments Estimated fair value (in millions) Carrying amount Level 1 Level 2 Level 3 Total June 30, 2016 Financial assets Cash and due from banks (1) $ 20,407 20,407 — — 20,407 Federal funds sold, securities purchased under resale agreements and other short-term investments (1) 295,521 20,288 275,123 110 295,521 Held-to-maturity securities 100,420 47,317 54,191 2,569 104,077 Mortgages held for sale (2) 3,689 — 2,457 1,246 3,703 Loans held for sale 220 — 222 — 222 Loans, net (3) 921,679 — 60,732 879,352 940,084 Nonmarketable equity investments (cost method) Excluding investments at NAV 7,624 — 18 8,205 8,223 Total financial assets included in the fair value hierarchy 1,349,560 88,012 392,743 891,482 1,372,237 Investments at NAV (4) 101 148 Total financial assets $ 1,349,661 1,372,385 Financial liabilities Deposits $ 1,245,473 — 1,220,198 25,583 1,245,781 Short-term borrowings (1) 120,258 — 120,258 — 120,258 Long-term debt (5) 243,919 — 232,701 10,690 243,391 Total financial liabilities $ 1,609,650 — 1,573,157 36,273 1,609,430 December 31, 2015 Financial assets Cash and due from banks (1) $ 19,111 19,111 — — 19,111 Federal funds sold, securities purchased under resale agreements and other short-term investments (1) 270,130 14,057 255,911 162 270,130 Held-to-maturity securities 80,197 45,167 32,052 3,348 80,567 Mortgages held for sale (2) 6,064 — 5,019 1,047 6,066 Loans held for sale 279 — 279 — 279 Loans, net (3) 887,497 — 60,848 839,816 900,664 Nonmarketable equity investments (cost method) Excluding investments at NAV 6,659 — 14 7,271 7,285 Total financial assets included in the fair value hierarchy 1,269,937 78,335 354,123 851,644 1,284,102 Investments at NAV (4) 376 619 Total financial assets $ 1,270,313 1,284,721 Financial liabilities Deposits $ 1,223,312 — 1,194,781 28,616 1,223,397 Short-term borrowings (1) 97,528 — 97,528 — 97,528 Long-term debt (5) 199,528 — 188,015 10,468 198,483 Total financial liabilities $ 1,520,368 — 1,480,324 39,084 1,519,408 (1) Amounts consist of financial instruments for which carrying value approximates fair value. (2) MHFS exclude balances for which we elected the fair value option. (3) Loans exclude balances for which we elected the fair value option and also exclude lease financing with a carrying amount of $19.0 billion and $12.4 billion at June 30, 2016 , and December 31, 2015 , respectively. (4) Consists of certain nonmarketable equity investments for which estimated fair values are determined using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy. (5) The carrying amount and fair value exclude obligations under capital leases of $8 million at both June 30, 2016 , and December 31, 2015 . |
Preferred Stock (Tables)
Preferred Stock (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
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. Table 14.1: Preferred Stock Shares June 30, 2016 December 31, 2015 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 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 25,000 80,000 Series V 6.000% Non-Cumulative Perpetual Class A Preferred Stock 25,000 40,000 25,000 40,000 Series W 5.700% Non-Cumulative Perpetual Class A Preferred Stock 25,000 40,000 — — Series X 5.500% Non-Cumulative Perpetual Class A Preferred Stock 25,000 46,000 — — ESOP Cumulative Convertible Preferred Stock (1) — 1,718,142 — 1,252,386 Total 12,220,852 11,669,096 (1) See the ESOP Cumulative Convertible Preferred Stock section in this Note for additional information about the liquidation preference for the ESOP Cumulative Convertible Preferred Stock. Table 14.2: Preferred Stock – Shares Issued and Carrying Value June 30, 2016 December 31, 2015 (in millions, except shares) Shares issued and outstanding Liquidation preference value Carrying value Discount Shares issued and outstanding Liquidation preference 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 — 80,000 2,000 2,000 — Series V (1) 6.000% Non-Cumulative Perpetual Class A Preferred Stock 40,000 1,000 1,000 — 40,000 1,000 1,000 — Series W (1) 5.700% Non-Cumulative Perpetual Class A Preferred Stock 40,000 1,000 1,000 — — — — — Series X (1) 5.500% Non-Cumulative Perpetual Class A Preferred Stock 46,000 1,150 1,150 — — — — — ESOP Cumulative Convertible Preferred Stock 1,718,142 1,718 1,718 — 1,252,386 1,252 1,252 — Total 11,811,673 $ 26,229 24,830 1,399 11,259,917 $ 23,613 22,214 1,399 (1) Preferred shares qualify as Tier 1 capital. |
Detail of Employee Stock Ownership Plan Preferred Stock | Table 14.3: ESOP Preferred Stock Shares issued and outstanding Carrying value Adjustable dividend rate (in millions, except shares) Jun 30, Dec 31, Jun 30, Dec 31, Minimum Maximum ESOP Preferred Stock $1,000 liquidation preference per share 2016 637,489 — $ 637 — 9.30 % 10.30 2015 200,820 220,408 201 220 8.90 9.90 2014 255,413 283,791 255 284 8.70 9.70 2013 222,558 251,304 223 251 8.50 9.50 2012 144,072 166,353 144 166 10.00 11.00 2011 149,301 177,614 149 178 9.00 10.00 2010 90,775 113,234 91 113 9.50 10.50 2008 17,714 28,972 18 29 10.50 11.50 2007 — 10,710 — 11 10.75 11.75 Total ESOP Preferred Stock (1) 1,718,142 1,252,386 $ 1,718 1,252 Unearned ESOP shares (2) $ (1,868 ) (1,362 ) (1) At June 30, 2016 and December 31, 2015 , additional paid-in capital included $150 million and $110 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) | 6 Months Ended |
Jun. 30, 2016 | |
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | |
Net Periodic Benefit Cost | Table 15.1 presents the components of net periodic benefit cost. Table 15.1: Net Periodic Benefit Cost 2016 2015 Pension benefits Pension benefits (in millions) Qualified Non-qualified Other benefits Qualified Non-qualified Other benefits Quarter ended June 30, Service cost $ 1 — — 1 — 2 Interest cost 109 6 10 107 7 10 Expected return on plan assets (141 ) — (7 ) (161 ) — (9 ) Amortization of net actuarial loss (gain) 33 3 (1 ) 27 4 (1 ) Amortization of prior service credit — — — — — — Settlement loss 4 — — — — — Net periodic benefit cost (income) $ 6 9 2 (26 ) 11 2 Six months ended June 30, Service cost $ 2 — — 1 — 4 Interest cost 218 13 20 214 13 21 Expected return on plan assets (283 ) — (15 ) (322 ) — (18 ) Amortization of net actuarial loss (gain) 66 6 (2 ) 54 9 (2 ) Amortization of prior service credit — — — — — (1 ) Settlement loss 4 2 — — 13 — Net periodic benefit cost (income) $ 7 21 3 (53 ) 35 4 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | Table 16.1 shows earnings per common share and diluted earnings per common share and reconciles the numerator and denominator of both earnings per common share calculations. Table 16.1: Earnings Per Common Share Calculations Quarter ended June 30, Six months ended June 30, (in millions, except per share amounts) 2016 2015 2016 2015 Wells Fargo net income $ 5,558 5,719 $ 11,020 11,523 Less: Preferred stock dividends and other 385 356 762 699 Wells Fargo net income applicable to common stock (numerator) $ 5,173 5,363 $ 10,258 10,824 Earnings per common share Average common shares outstanding (denominator) 5,066.9 5,151.9 5,071.3 5,156.1 Per share $ 1.02 1.04 $ 2.02 2.10 Diluted earnings per common share Average common shares outstanding 5,066.9 5,151.9 5,071.3 5,156.1 Add: Stock options 19.6 27.3 20.4 28.1 Restricted share rights 21.0 26.8 27.4 34.6 Warrants 10.6 14.5 10.7 14.4 Diluted average common shares outstanding (denominator) 5,118.1 5,220.5 5,129.8 5,233.2 Per share $ 1.01 1.03 $ 2.00 2.07 |
Antidilutive Warrants And Options Outstanding | Table 16.2 presents the outstanding options 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. Table 16.2: Outstanding Anti-Dilutive Options Weighted-average shares Quarter ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Options 2.7 5.6 3.7 6.3 |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Cumulative Other Comprehensive Income Balances [Abstract] | |
Summary of Other Comprehensive Income | Table 17.1 provides the components of other comprehensive income (OCI), reclassifications to net income by income statement line item, and the related tax effects. Table 17.1: Summary of Other Comprehensive Income Quarter ended June 30, Six months ended June 30, 2016 2015 2016 2015 (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 $ 1,571 (596 ) 975 (1,969 ) 678 (1,291 ) 2,366 (906 ) 1,460 (1,576 ) 631 (945 ) Reclassification of net (gains) losses to net income: Interest income on investment securities (1) 3 (1 ) 2 1 — 1 3 (1 ) 2 (2 ) 1 (1 ) Net gains on debt securities (447 ) 168 (279 ) (181 ) 68 (113 ) (691 ) 259 (432 ) (459 ) 173 (286 ) Net gains from equity investments (60 ) 23 (37 ) (38 ) 14 (24 ) (119 ) 45 (74 ) (57 ) 21 (36 ) Other noninterest income — — — — — — (1 ) — (1 ) — — — Subtotal reclassifications to net income (504 ) 190 (314 ) (218 ) 82 (136 ) (808 ) 303 (505 ) (518 ) 195 (323 ) Net change 1,067 (406 ) 661 (2,187 ) 760 (1,427 ) 1,558 (603 ) 955 (2,094 ) 826 (1,268 ) Derivatives and hedging activities: Net unrealized gains (losses) arising during the period 1,057 (399 ) 658 (488 ) 184 (304 ) 3,056 (1,152 ) 1,904 464 (175 ) 289 Reclassification of net (gains) losses to net income: Interest income on investment securities — — — (1 ) — (1 ) — — — (2 ) 1 (1 ) Interest income on loans (268 ) 101 (167 ) (272 ) 103 (169 ) (528 ) 199 (329 ) (509 ) 192 (317 ) Interest expense on long-term debt 3 (1 ) 2 5 (2 ) 3 7 (3 ) 4 9 (3 ) 6 Subtotal reclassifications to net income (265 ) 100 (165 ) (268 ) 101 (167 ) (521 ) 196 (325 ) (502 ) 190 (312 ) Net change 792 (299 ) 493 (756 ) 285 (471 ) 2,535 (956 ) 1,579 (38 ) 15 (23 ) Defined benefit plans adjustments: Net actuarial losses arising during the period (19 ) 7 (12 ) — — — (27 ) 10 (17 ) (11 ) 4 (7 ) Reclassification of amounts to net periodic benefit costs (2): Amortization of net actuarial loss 35 (14 ) 21 30 (11 ) 19 70 (27 ) 43 61 (23 ) 38 Settlements and other 4 (1 ) 3 — — — 6 (2 ) 4 12 (5 ) 7 Subtotal reclassifications to net periodic benefit costs 39 (15 ) 24 30 (11 ) 19 76 (29 ) 47 73 (28 ) 45 Net change 20 (8 ) 12 30 (11 ) 19 49 (19 ) 30 62 (24 ) 38 Foreign currency translation adjustments: Net unrealized gains (losses) arising during the period (6 ) (1 ) (7 ) 10 6 16 37 7 44 (45 ) (5 ) (50 ) Net change (6 ) (1 ) (7 ) 10 6 16 37 7 44 (45 ) (5 ) (50 ) Other comprehensive income (loss) $ 1,873 (714 ) 1,159 (2,903 ) 1,040 (1,863 ) 4,179 (1,571 ) 2,608 (2,115 ) 812 (1,303 ) Less: Other comprehensive income (loss) from noncontrolling interests, net of tax (15 ) (154 ) (43 ) 147 Wells Fargo other comprehensive income (loss), net of tax $ 1,174 (1,709 ) 2,651 (1,450 ) (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 | Table 17.2: Cumulative OCI Balances (in millions) Investment securities Derivatives and hedging activities Defined benefit plans adjustments Foreign currency translation adjustments Cumulative other compre- hensive income Quarter ended June 30, 2016 Balance, beginning of period $ 2,137 1,706 (1,933 ) (136 ) 1,774 Net unrealized gains (losses) arising during the period 975 658 (12 ) (7 ) 1,614 Amounts reclassified from accumulated other comprehensive income (314 ) (165 ) 24 — (455 ) Net change 661 493 12 (7 ) 1,159 Less: Other comprehensive loss from noncontrolling interests (14 ) — — (1 ) (15 ) Balance, end of period $ 2,812 2,199 (1,921 ) (142 ) 2,948 Quarter ended June 30, 2015 Balance, beginning of period $ 4,784 781 (1,684 ) (104 ) 3,777 Net unrealized gains (losses) arising during the period (1,291 ) (304 ) — 16 (1,579 ) Amounts reclassified from accumulated other comprehensive income (136 ) (167 ) 19 — (284 ) Net change (1,427 ) (471 ) 19 16 (1,863 ) Less: Other comprehensive loss from noncontrolling interests (152 ) — — (2 ) (154 ) Balance, end of period $ 3,509 310 (1,665 ) (86 ) 2,068 Six months ended June 30, 2016 Balance, beginning of period $ 1,813 620 (1,951 ) (185 ) 297 Net unrealized gains (losses) arising during the period 1,460 1,904 (17 ) 44 3,391 Amounts reclassified from accumulated other comprehensive income (505 ) (325 ) 47 — (783 ) Net change 955 1,579 30 44 2,608 Less: Other comprehensive income (loss) from noncontrolling interests (44 ) — — 1 (43 ) Balance, end of period $ 2,812 2,199 (1,921 ) (142 ) 2,948 Six months ended June 30, 2015 Balance, beginning of period $ 4,926 333 (1,703 ) (38 ) 3,518 Net unrealized gains (losses) arising during the period (945 ) 289 (7 ) (50 ) (713 ) Amounts reclassified from accumulated other comprehensive income (323 ) (312 ) 45 — (590 ) Net change (1,268 ) (23 ) 38 (50 ) (1,303 ) Less: Other comprehensive income (loss) from noncontrolling interests 149 — — (2 ) 147 Balance, end of period $ 3,509 310 (1,665 ) (86 ) 2,068 |
Operating Segments (Tables)
Operating Segments (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Segment Reporting [Abstract] | |
Financial Information of Operating Segment | Table 18.1: Operating Segments Community Banking Wholesale Banking Wealth and Investment Management Other (1) Consolidated Company (income/expense in millions, average balances in billions) 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 Quarter ended June 30, Net interest income (2) $ 7,379 7,277 3,919 3,591 932 832 (497 ) (430 ) 11,733 11,270 Provision (reversal of provision) for credit losses 689 397 385 (84 ) 2 (10 ) (2 ) (3 ) 1,074 300 Noninterest income 4,825 4,690 3,365 3,019 2,987 3,144 (748 ) (805 ) 10,429 10,048 Noninterest expense 6,648 6,719 4,036 3,504 2,976 3,038 (794 ) (792 ) 12,866 12,469 Income (loss) before income tax expense (benefit) 4,867 4,851 2,863 3,190 941 948 (449 ) (440 ) 8,222 8,549 Income tax expense (benefit) 1,667 1,620 795 951 358 359 (171 ) (167 ) 2,649 2,763 Net income (loss) before noncontrolling interests 3,200 3,231 2,068 2,239 583 589 (278 ) (273 ) 5,573 5,786 Less: Net income (loss) from noncontrolling interests 21 16 (5 ) 48 (1 ) 3 — — 15 67 Net income (loss) (3) $ 3,179 3,215 2,073 2,191 584 586 (278 ) (273 ) 5,558 5,719 Average loans $ 485.7 472.3 451.4 386.2 66.7 59.3 (53.0 ) (47.4 ) 950.8 870.4 Average assets 967.6 910.0 772.6 713.7 205.3 189.1 (83.4 ) (83.5 ) 1,862.1 1,729.3 Average deposits 703.7 654.8 425.8 432.4 182.5 168.2 (75.3 ) (70.1 ) 1,236.7 1,185.3 Six months ended June 30, Net interest income (2) $ 14,847 14,424 7,667 7,028 1,875 1,658 (989 ) (854 ) 23,400 22,256 Provision (reversal of provision) for credit losses 1,409 1,055 748 (135 ) (12 ) (13 ) 15 1 2,160 908 Noninterest income 9,971 9,654 6,575 5,991 5,898 6,294 (1,487 ) (1,599 ) 20,957 20,340 Noninterest expense 13,484 13,310 8,004 7,122 6,018 6,160 (1,612 ) (1,616 ) 25,894 24,976 Income (loss) before income tax expense (benefit) 9,925 9,713 5,490 6,032 1,767 1,805 (879 ) (838 ) 16,303 16,712 Income tax expense (benefit) 3,364 2,910 1,514 1,768 672 683 (334 ) (319 ) 5,216 5,042 Net income (loss) before noncontrolling interests 6,561 6,803 3,976 4,264 1,095 1,122 (545 ) (519 ) 11,087 11,670 Less: Net income (loss) from noncontrolling interests 86 41 (18 ) 99 (1 ) 7 — — 67 147 Net income (loss) (3) $ 6,475 6,762 3,994 4,165 1,096 1,115 (545 ) (519 ) 11,020 11,523 Average loans $ 485.0 472.3 440.6 383.1 65.4 58.1 (52.0 ) (46.6 ) 939.0 866.9 Average assets 957.5 909.8 760.6 702.2 206.7 190.3 (83.8 ) (83.7 ) 1,841.0 1,718.6 Average deposits 693.3 649.1 426.9 432.1 183.5 169.2 (75.7 ) (70.3 ) 1,228.0 1,180.1 (1) Includes the elimination of certain items that are included in more than one business segment, substantially all of which represents products and services for Wealth and Investment Management customers served through Community Banking distribution channels. (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) | 6 Months Ended |
Jun. 30, 2016 | |
Banking and Thrift [Abstract] | |
Regulatory And Agency Capital Requirements | Table 19.1 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. 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 reflects risk-weighted assets (RWAs) under the Standardized and Advanced Approaches with Transition Requirements. The Standardized Approach applies assigned risk weights to broad risk categories, while the 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 June 30, 2016 , 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. Table 19.1: Regulatory Capital Information Wells Fargo & Company Wells Fargo Bank, N.A. June 30, 2016 December 31, 2015 June 30, 2016 December 31, 2015 (in millions, except ratios) Advanced Approach Standardized Approach Advanced Approach Standardized Advanced Approach Standardized Advanced Approach Standardized Regulatory capital: Common equity tier 1 $ 146,624 146,624 144,247 144,247 130,700 130,700 126,901 126,901 Tier 1 169,287 169,287 164,584 164,584 130,700 130,700 126,901 126,901 Total 200,125 211,311 195,153 205,529 143,686 154,068 140,545 149,969 Assets: Risk-weighted $ 1,321,729 1,354,622 1,263,182 1,303,148 1,173,316 1,239,031 1,100,896 1,197,648 Adjusted average (1) 1,830,527 1,830,527 1,757,107 1,757,107 1,653,380 1,653,380 1,584,297 1,584,297 Regulatory capital ratios: Common equity tier 1 capital 11.09 % 10.82 * 11.42 11.07 * 11.14 10.55 * 11.53 10.60 * Tier 1 capital 12.81 12.50 * 13.03 12.63 * 11.14 10.55 * 11.53 10.60 * Total capital 15.14 * 15.60 15.45 * 15.77 12.25 * 12.43 12.77 12.52 * Tier 1 leverage (1) 9.25 9.25 9.37 9.37 7.91 7.91 8.01 8.01 *Denotes the lowest capital ratio as determined under the Advanced and Standardized Approaches. (1) The leverage ratio consists of Tier 1 capital divided by quarterly average total assets, excluding goodwill and certain other items. |
Minimum Required Regulatory Capital Ratios (Transition Requirements) [Table Text Block] | Table 19.2 presents the minimum required regulatory capital ratios under Transition Requirements to which the Company and the Bank were subject as of June 30, 2016 and December 31, 2015 . Table 19.2: Minimum Required Regulatory Capital Ratios – Transition Requirements (1) Wells Fargo & Company Wells Fargo Bank, N.A. June 30, 2016 December 31, 2015 June 30, 2016 December 31, 2015 Regulatory capital ratios: Common equity tier 1 capital 5.625 % 4.500 5.125 4.500 Tier 1 capital 7.125 6.000 6.625 6.000 Total capital 9.125 8.000 8.625 8.000 Tier 1 leverage 4.000 4.000 4.000 4.000 (1) At June 30, 2016 , under transition requirements, the CET1, tier 1 and total capital minimum ratio requirements for Wells Fargo & Company include a capital conservation buffer of 0.625% and a global systemically important bank (G-SIB) surcharge of 0.5% . Only the 0.625% capital conservation buffer applies to the Bank at June 30, 2016 . |
Summary of Significant Accoun47
Summary of Significant Accounting Policies (Details) - USD ($) shares in Millions, $ in Millions | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||
Jul. 31, 2015 | Jun. 30, 2016 | Jun. 30, 2016 | Jun. 30, 2015 | Jan. 01, 2016 | ||
Supplemental cash flow information - Noncash activities | ||||||
Trading assets retained from securitization of MHFS | $ 23,403 | $ 20,816 | ||||
Transfers from loans to MHFS | 3,309 | 4,757 | ||||
Transfers from available-for-sale to held-to-maturity securities | 0 | 4,972 | ||||
Summary Of Significant Accounting Policies Textuals [Abstract] | ||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | [1] | $ 121 | ||||
Private Forward Repurchase Transaction [Member] | ||||||
Summary Of Significant Accounting Policies Textuals [Abstract] | ||||||
Private forward repurchase contract | $ 0 | $ 0 | $ 750 | |||
Common stock repurchased, shares | 13.6 | 0 | ||||
Noncontrolling Interest [Member] | ||||||
Summary Of Significant Accounting Policies Textuals [Abstract] | ||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | [1] | 121 | ||||
Retained Earnings [Member] | ||||||
Summary Of Significant Accounting Policies Textuals [Abstract] | ||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | 0 | |||||
Other Assets [Member] | ||||||
Summary of Significant Accounting Policies [Line Items] | ||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ 180 | |||||
[1] | Effective January 1, 2016, we adopted changes in consolidation accounting pursuant to ASU 2015-02 (Amendments to the Consolidation Analysis). Accordingly, we recorded a $121 million increase to beginning noncontrolling interests as a cumulative-effect adjustment. |
Business Combinations (Details)
Business Combinations (Details) $ in Millions | Jan. 01, 2016USD ($)locomotive | Jul. 13, 2012 | Aug. 01, 2016USD ($) | Jun. 30, 2016USD ($) | Mar. 31, 2016USD ($) | Jun. 30, 2016business | Mar. 01, 2016USD ($) |
Business Acquisition [Line Items] | |||||||
Business acquisition, number completed during period | business | 2 | ||||||
NumberofDivestitures | business | 2 | ||||||
Proceeds from Divestiture of Businesses | $ 4,000 | ||||||
Railcar and Locomotive Leasing [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Acquisitions, GE Railcar Services | $ 4,300 | ||||||
Business Acquisition,Number of Railcars | locomotive | 77,000 | ||||||
Business Acquisitions, Number of Locomotives | locomotive | 1,000 | ||||||
GE Capital Acquisition [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Acquisitions, GE Capital | $ 30,000 | ||||||
North America [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Percentage Of Business Acquired | 90.00% | ||||||
Loans [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Acquisitions, GE Capital | $ 24,200 | ||||||
Loans [Member] | Railcar and Locomotive Leasing [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Acquisitions, GE Railcar Services | $ 918 | ||||||
Loans [Member] | Subsequent Event [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Acquisitions, GE Capital International | $ 1,000 | ||||||
Lease Agreements [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Acquisitions, GE Capital | 2,700 | ||||||
Lease Agreements [Member] | Railcar and Locomotive Leasing [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Acquisitions, GE Railcar Services | $ 3,200 | ||||||
Other Intangible Assets [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Acquisitions, GE Capital | $ 2,200 | ||||||
Gain (Loss) on Investments [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Proceeds from Divestiture of Businesses | $ 290 | $ 381 | |||||
In re Interchange Litigation [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Litigation Settlement, Percentage Of Default Interchange Distributed To Class Merchants | 0.10% |
Federal Funds Sold, Securitie49
Federal Funds Sold, Securities Purchased under Resale Agreements and Other Short-Term Investments (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Federal Funds Sold, Securities Purchased under Resale Agreements and Other Short-Term Investments [Line Items] | ||
Federal funds sold and securities purchased under resale agreements | $ 54,593 | $ 45,828 |
Interest-earning deposits | 231,210 | 220,409 |
Other short-term investments | 9,718 | 3,893 |
Total | 295,521 | 270,130 |
Federal Funds Sold, Securities Purchased under Resale Agreements and Other Short-Term Investments Textual [Abstract] | ||
Unfunded contractual commitments | 3,300 | 2,200 |
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 | $ 23,800 | $ 20,100 |
Investment Securities, Major Ca
Investment Securities, Major Categories (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Available-for-sale securities: | ||
Amortized Cost | $ 248,470 | $ 264,376 |
Gross unrealized gains | 6,484 | 5,448 |
Gross unrealized losses | (1,948) | (2,466) |
Fair value | 253,006 | 267,358 |
Held-to-maturity, at cost (fair value $104,077 and $80,567) | 100,420 | 80,197 |
Held-to-maturity securities: | ||
Gross unrealized gains | 3,679 | 784 |
Gross unrealized losses | (22) | (414) |
Total investment securities: | ||
Amortized Cost | 348,890 | 344,573 |
Gross unrealized gains | 10,163 | 6,232 |
Gross unrealized losses | (1,970) | (2,880) |
Fair value | 357,083 | 347,925 |
Held-to-maturity, at fair value | 104,077 | 80,567 |
Collateralized Debt Obligations [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 713 | 247 |
Fair value | 719 | 257 |
Asset-backed Securities, Securitized Loans and Receivables [Member] | ||
Available-for-sale securities: | ||
Held-to-maturity, at cost (fair value $104,077 and $80,567) | 1,500 | 1,900 |
Total investment securities: | ||
Held-to-maturity, at fair value | 1,500 | 1,900 |
Asset-backed Securities Collateralized by Dealer Floorplan Loans [Member] | ||
Available-for-sale securities: | ||
Held-to-maturity, at cost (fair value $104,077 and $80,567) | 1,100 | 1,400 |
Total investment securities: | ||
Held-to-maturity, at fair value | 1,000 | 1,400 |
Total debt securities [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 247,602 | 263,318 |
Gross unrealized gains | 6,047 | 4,854 |
Gross unrealized losses | (1,945) | (2,451) |
Fair value | 251,704 | 265,721 |
Total investment securities: | ||
Held-to-maturity, at fair value | 104,077 | 80,567 |
Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 27,348 | 36,374 |
Gross unrealized gains | 591 | 24 |
Gross unrealized losses | 0 | (148) |
Fair value | 27,939 | 36,250 |
Held-to-maturity, at cost (fair value $104,077 and $80,567) | 44,675 | 44,660 |
Held-to-maturity securities: | ||
Gross unrealized gains | 2,642 | 580 |
Gross unrealized losses | 0 | (73) |
Total investment securities: | ||
Held-to-maturity, at fair value | 47,317 | 45,167 |
Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 53,960 | 49,167 |
Gross unrealized gains | 1,165 | 1,325 |
Gross unrealized losses | (1,101) | (502) |
Fair value | 54,024 | 49,990 |
Held-to-maturity, at cost (fair value $104,077 and $80,567) | 2,181 | 2,185 |
Held-to-maturity securities: | ||
Gross unrealized gains | 151 | 65 |
Gross unrealized losses | 0 | 0 |
Total investment securities: | ||
Held-to-maturity, at fair value | 2,332 | 2,250 |
Mortgage-backed securities: [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 112,207 | 125,177 |
Gross unrealized gains | 3,744 | 2,953 |
Gross unrealized losses | (145) | (938) |
Fair value | 115,806 | 127,192 |
Federal agencies [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 92,929 | 103,391 |
Gross unrealized gains | 2,984 | 1,983 |
Gross unrealized losses | (45) | (828) |
Fair value | 95,868 | 104,546 |
Held-to-maturity, at cost (fair value $104,077 and $80,567) | 49,594 | 28,604 |
Held-to-maturity securities: | ||
Gross unrealized gains | 880 | 131 |
Gross unrealized losses | 0 | (314) |
Total investment securities: | ||
Held-to-maturity, at fair value | 50,474 | 28,421 |
Residential [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 7,698 | 7,843 |
Gross unrealized gains | 605 | 740 |
Gross unrealized losses | (32) | (25) |
Fair value | 8,271 | 8,558 |
Commercial [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 11,580 | 13,943 |
Gross unrealized gains | 155 | 230 |
Gross unrealized losses | (68) | (85) |
Fair value | 11,667 | 14,088 |
Corporate debt securities [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 13,306 | 15,548 |
Gross unrealized gains | 336 | 312 |
Gross unrealized losses | (262) | (449) |
Fair value | 13,380 | 15,411 |
Collateralized loan and other debt obligations [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 34,551 | 31,210 |
Gross unrealized gains | 112 | 125 |
Gross unrealized losses | (382) | (368) |
Fair value | 34,281 | 30,967 |
Held-to-maturity, at cost (fair value $104,077 and $80,567) | 1,406 | 1,405 |
Held-to-maturity securities: | ||
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | (21) | (24) |
Total investment securities: | ||
Held-to-maturity, at fair value | 1,385 | 1,381 |
Other [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 6,230 | 5,842 |
Gross unrealized gains | 99 | 115 |
Gross unrealized losses | (55) | (46) |
Fair value | 6,274 | 5,911 |
Held-to-maturity, at cost (fair value $104,077 and $80,567) | 2,564 | 3,343 |
Held-to-maturity securities: | ||
Gross unrealized gains | 6 | 8 |
Gross unrealized losses | (1) | (3) |
Total investment securities: | ||
Held-to-maturity, at fair value | 2,569 | 3,348 |
Total marketable equity securities [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 868 | 1,058 |
Gross unrealized gains | 437 | 594 |
Gross unrealized losses | (3) | (15) |
Fair value | 1,302 | 1,637 |
Perpetual preferred securities [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 650 | 819 |
Gross unrealized gains | 87 | 112 |
Gross unrealized losses | (3) | (13) |
Fair value | 734 | 918 |
Other marketable equity securities [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 218 | 239 |
Gross unrealized gains | 350 | 482 |
Gross unrealized losses | 0 | (2) |
Fair value | $ 568 | $ 719 |
Investment Securities, Gross Un
Investment Securities, Gross Unrealized Losses and Fair Value (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | $ (517) | $ (1,304) |
Less than 12 months, Fair value, available-for-sale | 38,494 | 100,316 |
12 months or more, Gross unrealized losses, available-for-sale | (1,431) | (1,162) |
12 months or more, Fair value, available-for-sale | 34,342 | 31,348 |
Total, Gross unrealized losses, available-for-sale | (1,948) | (2,466) |
Total, Fair value, available-for-sale | 72,836 | 131,664 |
Held-to-maturity securities: | ||
Less than 12 months, Gross unrealized losses, held-to-maturity | (6) | (410) |
Less than 12 months, Fair value, held-to-maturity | 1,015 | 30,623 |
12 months or more, Gross unrealized losses, held-to-maturity | (16) | (4) |
12 months or more, Fair value, held-to-maturity | 1,181 | 233 |
Total, Gross unrealized losses, held-to-maturity | (22) | (414) |
Total, Fair value, held-to-maturity | 2,196 | 30,856 |
Total investment securities: | ||
Less than 12 months, Gross unrealized losses, investment securities | (523) | (1,714) |
Less than 12 months, Fair value, investment securities | 39,509 | 130,939 |
12 months or more, Gross unrealized losses, investment securities | (1,447) | (1,166) |
12 months or more, Fair value, investment securities | 35,523 | 31,581 |
Total, Gross unrealized losses, investment securities | (1,970) | (2,880) |
Total, Fair value, investment securities | 75,032 | 162,520 |
Total debt securities [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (517) | (1,301) |
Less than 12 months, Fair value, available-for-sale | 38,494 | 100,252 |
12 months or more, Gross unrealized losses, available-for-sale | (1,428) | (1,150) |
12 months or more, Fair value, available-for-sale | 34,277 | 31,239 |
Total, Gross unrealized losses, available-for-sale | (1,945) | (2,451) |
Total, Fair value, available-for-sale | 72,771 | 131,491 |
Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | 0 | (148) |
Less than 12 months, Fair value, available-for-sale | 0 | 24,795 |
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 | 0 | (148) |
Total, Fair value, available-for-sale | 0 | 24,795 |
Held-to-maturity securities: | ||
Less than 12 months, Gross unrealized losses, held-to-maturity | 0 | (73) |
Less than 12 months, Fair value, held-to-maturity | 0 | 5,264 |
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 | 0 | (73) |
Total, Fair value, held-to-maturity | 0 | 5,264 |
Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (170) | (26) |
Less than 12 months, Fair value, available-for-sale | 12,054 | 3,453 |
12 months or more, Gross unrealized losses, available-for-sale | (931) | (476) |
12 months or more, Fair value, available-for-sale | 13,194 | 12,377 |
Total, Gross unrealized losses, available-for-sale | (1,101) | (502) |
Total, Fair value, available-for-sale | 25,248 | 15,830 |
Mortgage-backed securities: [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (45) | (574) |
Less than 12 months, Fair value, available-for-sale | 6,336 | 42,081 |
12 months or more, Gross unrealized losses, available-for-sale | (100) | (364) |
12 months or more, Fair value, available-for-sale | 6,754 | 12,536 |
Total, Gross unrealized losses, available-for-sale | (145) | (938) |
Total, Fair value, available-for-sale | 13,090 | 54,617 |
Federal agencies [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (4) | (522) |
Less than 12 months, Fair value, available-for-sale | 2,003 | 36,329 |
12 months or more, Gross unrealized losses, available-for-sale | (41) | (306) |
12 months or more, Fair value, available-for-sale | 4,105 | 9,888 |
Total, Gross unrealized losses, available-for-sale | (45) | (828) |
Total, Fair value, available-for-sale | 6,108 | 46,217 |
Held-to-maturity securities: | ||
Less than 12 months, Gross unrealized losses, held-to-maturity | 0 | (314) |
Less than 12 months, Fair value, held-to-maturity | 0 | 23,115 |
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 | 0 | (314) |
Total, Fair value, held-to-maturity | 0 | 23,115 |
Residential [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (20) | (20) |
Less than 12 months, Fair value, available-for-sale | 1,855 | 1,276 |
12 months or more, Gross unrealized losses, available-for-sale | (12) | (5) |
12 months or more, Fair value, available-for-sale | 492 | 285 |
Total, Gross unrealized losses, available-for-sale | (32) | (25) |
Total, Fair value, available-for-sale | 2,347 | 1,561 |
Commercial [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (21) | (32) |
Less than 12 months, Fair value, available-for-sale | 2,478 | 4,476 |
12 months or more, Gross unrealized losses, available-for-sale | (47) | (53) |
12 months or more, Fair value, available-for-sale | 2,157 | 2,363 |
Total, Gross unrealized losses, available-for-sale | (68) | (85) |
Total, Fair value, available-for-sale | 4,635 | 6,839 |
Corporate debt securities [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (63) | (244) |
Less than 12 months, Fair value, available-for-sale | 2,061 | 4,941 |
12 months or more, Gross unrealized losses, available-for-sale | (199) | (205) |
12 months or more, Fair value, available-for-sale | 1,614 | 1,057 |
Total, Gross unrealized losses, available-for-sale | (262) | (449) |
Total, Fair value, available-for-sale | 3,675 | 5,998 |
Collateralized loan and other debt obligations [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (219) | (276) |
Less than 12 months, Fair value, available-for-sale | 15,850 | 22,214 |
12 months or more, Gross unrealized losses, available-for-sale | (163) | (92) |
12 months or more, Fair value, available-for-sale | 11,635 | 4,844 |
Total, Gross unrealized losses, available-for-sale | (382) | (368) |
Total, Fair value, available-for-sale | 27,485 | 27,058 |
Held-to-maturity securities: | ||
Less than 12 months, Gross unrealized losses, held-to-maturity | (5) | (20) |
Less than 12 months, Fair value, held-to-maturity | 150 | 1,148 |
12 months or more, Gross unrealized losses, held-to-maturity | (16) | (4) |
12 months or more, Fair value, held-to-maturity | 1,181 | 233 |
Total, Gross unrealized losses, held-to-maturity | (21) | (24) |
Total, Fair value, held-to-maturity | 1,331 | 1,381 |
Other [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (20) | (33) |
Less than 12 months, Fair value, available-for-sale | 2,193 | 2,768 |
12 months or more, Gross unrealized losses, available-for-sale | (35) | (13) |
12 months or more, Fair value, available-for-sale | 1,080 | 425 |
Total, Gross unrealized losses, available-for-sale | (55) | (46) |
Total, Fair value, available-for-sale | 3,273 | 3,193 |
Held-to-maturity securities: | ||
Less than 12 months, Gross unrealized losses, held-to-maturity | (1) | (3) |
Less than 12 months, Fair value, held-to-maturity | 865 | 1,096 |
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 | (1) | (3) |
Total, Fair value, held-to-maturity | 865 | 1,096 |
Total marketable equity securities [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | 0 | (3) |
Less than 12 months, Fair value, available-for-sale | 0 | 64 |
12 months or more, Gross unrealized losses, available-for-sale | (3) | (12) |
12 months or more, Fair value, available-for-sale | 65 | 109 |
Total, Gross unrealized losses, available-for-sale | (3) | (15) |
Total, Fair value, available-for-sale | 65 | 173 |
Perpetual preferred securities [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | 0 | (1) |
Less than 12 months, Fair value, available-for-sale | 0 | 24 |
12 months or more, Gross unrealized losses, available-for-sale | (3) | (12) |
12 months or more, Fair value, available-for-sale | 65 | 109 |
Total, Gross unrealized losses, available-for-sale | (3) | (13) |
Total, Fair value, available-for-sale | 65 | 133 |
Other marketable equity securities [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | 0 | (2) |
Less than 12 months, Fair value, available-for-sale | 0 | 40 |
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 | 0 | (2) |
Total, Fair value, available-for-sale | $ 0 | $ 40 |
Investment Securities, Unrealiz
Investment Securities, Unrealized Loss Position, by Credit Rating (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Available-for-sale securities: | ||
Gross unrealized losses | $ (1,948) | $ (2,466) |
Fair value | 253,006 | 267,358 |
Held-to-maturity securities: | ||
Gross unrealized losses | (22) | (414) |
Fair value | 104,077 | 80,567 |
Total investment securities: | ||
Gross unrealized losses | (1,970) | (2,880) |
Fair value | 357,083 | 347,925 |
Total debt securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (1,945) | (2,451) |
Fair value | 251,704 | 265,721 |
Held-to-maturity securities: | ||
Fair value | 104,077 | 80,567 |
Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | 0 | (148) |
Fair value | 27,939 | 36,250 |
Held-to-maturity securities: | ||
Gross unrealized losses | 0 | (73) |
Fair value | 47,317 | 45,167 |
Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (1,101) | (502) |
Fair value | 54,024 | 49,990 |
Held-to-maturity securities: | ||
Gross unrealized losses | 0 | 0 |
Fair value | 2,332 | 2,250 |
Mortgage-backed securities: [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (145) | (938) |
Fair value | 115,806 | 127,192 |
Federal agencies [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (45) | (828) |
Fair value | 95,868 | 104,546 |
Held-to-maturity securities: | ||
Gross unrealized losses | 0 | (314) |
Fair value | 50,474 | 28,421 |
Residential [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (32) | (25) |
Fair value | 8,271 | 8,558 |
Commercial [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (68) | (85) |
Fair value | 11,667 | 14,088 |
Corporate debt securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (262) | (449) |
Fair value | 13,380 | 15,411 |
Collateralized loan and other debt obligations [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (382) | (368) |
Fair value | 34,281 | 30,967 |
Held-to-maturity securities: | ||
Gross unrealized losses | (21) | (24) |
Fair value | 1,385 | 1,381 |
Other [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (55) | (46) |
Fair value | 6,274 | 5,911 |
Held-to-maturity securities: | ||
Gross unrealized losses | (1) | (3) |
Fair value | 2,569 | 3,348 |
Total marketable equity securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (3) | (15) |
Fair value | 1,302 | 1,637 |
Perpetual preferred securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (3) | (13) |
Fair value | 734 | 918 |
Unrated Investment Grade Securities [Member] | ||
Total investment securities: | ||
Gross unrealized losses | (12) | (17) |
Fair value | 3,400 | 3,700 |
Investment grade [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (1,653) | (2,075) |
Fair value | 68,138 | 127,911 |
Held-to-maturity securities: | ||
Gross unrealized losses | (22) | (414) |
Fair value | 2,196 | 30,856 |
Total investment securities: | ||
Gross unrealized losses | (1,675) | (2,489) |
Fair value | 70,334 | 158,767 |
Investment grade [Member] | Total debt securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (1,650) | (2,062) |
Fair value | 68,073 | 127,778 |
Investment grade [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | 0 | (148) |
Fair value | 0 | 24,795 |
Held-to-maturity securities: | ||
Gross unrealized losses | 0 | (73) |
Fair value | 0 | 5,264 |
Investment grade [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (1,056) | (464) |
Fair value | 24,902 | 15,470 |
Investment grade [Member] | Mortgage-backed securities: [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (89) | (899) |
Fair value | 11,189 | 53,373 |
Investment grade [Member] | Federal agencies [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (45) | (828) |
Fair value | 6,108 | 46,217 |
Held-to-maturity securities: | ||
Gross unrealized losses | 0 | (314) |
Fair value | 0 | 23,115 |
Investment grade [Member] | Residential [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (15) | (12) |
Fair value | 1,264 | 795 |
Investment grade [Member] | Commercial [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (29) | (59) |
Fair value | 3,817 | 6,361 |
Investment grade [Member] | Corporate debt securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (74) | (140) |
Fair value | 1,780 | 4,167 |
Investment grade [Member] | Collateralized loan and other debt obligations [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (382) | (368) |
Fair value | 27,485 | 27,058 |
Held-to-maturity securities: | ||
Gross unrealized losses | (21) | (24) |
Fair value | 1,331 | 1,381 |
Investment grade [Member] | Other [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (49) | (43) |
Fair value | 2,717 | 2,915 |
Held-to-maturity securities: | ||
Gross unrealized losses | (1) | (3) |
Fair value | 865 | 1,096 |
Investment grade [Member] | Perpetual preferred securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (3) | (13) |
Fair value | 65 | 133 |
Non-investment grade [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (295) | (389) |
Fair value | 4,698 | 3,713 |
Held-to-maturity securities: | ||
Gross unrealized losses | 0 | 0 |
Fair value | 0 | 0 |
Total investment securities: | ||
Gross unrealized losses | (295) | (389) |
Fair value | 4,698 | 3,713 |
Non-investment grade [Member] | Total debt securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (295) | (389) |
Fair value | 4,698 | 3,713 |
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) | (38) |
Fair value | 346 | 360 |
Non-investment grade [Member] | Mortgage-backed securities: [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (56) | (39) |
Fair value | 1,901 | 1,244 |
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 | 0 |
Fair value | 0 | 0 |
Non-investment grade [Member] | Residential [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (17) | (13) |
Fair value | 1,083 | 766 |
Non-investment grade [Member] | Commercial [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (39) | (26) |
Fair value | 818 | 478 |
Non-investment grade [Member] | Corporate debt securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (188) | (309) |
Fair value | 1,895 | 1,831 |
Non-investment grade [Member] | Collateralized loan and other debt obligations [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] | Other [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (6) | (3) |
Fair value | 556 | 278 |
Held-to-maturity securities: | ||
Gross unrealized losses | 0 | 0 |
Fair value | 0 | 0 |
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 | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 251,704 | $ 265,721 |
Weighted average yield contractual maturities, Total, available-for-sale | 3.64% | 3.55% |
Due within 1 year, Contractual maturities, available-for-sale | $ 4,564 | $ 4,218 |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 2.84% | 2.84% |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 42,576 | $ 48,542 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 2.05% | 1.98% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 27,493 | $ 28,330 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 3.20% | 2.98% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 177,071 | $ 184,631 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 4.11% | 4.07% |
Held-to-maturity securities: | ||
Held-to-maturity securities, Amortized Cost | $ 100,420 | $ 80,197 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 2.75% | 2.69% |
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 | $ 22,827 | $ 3,627 |
Percentage of weighted average yield, Due In 1-5 years, held-to-maturity, cost | 2.04% | 1.74% |
Due in 5-10 years, Contractual maturities, held-to-maturity, cost | $ 24,770 | $ 44,480 |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 2.16% | 2.13% |
Due in 10 years or more, Contractual maturities, held-to-maturity, cost | $ 52,823 | $ 32,090 |
Percentage of weighted average yield, Due after 10 years, held-to-maturity, cost | 3.33% | 3.57% |
Held-to-maturity securities, fair value: [Abstract] | ||
Contractual maturities, Total amount, held-to-maturity, fair value | $ 104,077 | $ 80,567 |
Total debt securities [Member] | ||
Held-to-maturity securities, fair value: [Abstract] | ||
Contractual maturities, Total amount, held-to-maturity, fair value | 104,077 | 80,567 |
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 | 24,008 | 3,651 |
Due in 5-10 years, Contractual maturities, held-to-maturity, fair value | 26,241 | 44,969 |
Due in 10 years or more, Contractual maturities, held-to-maturity, fair value | 53,828 | 31,947 |
Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 27,939 | $ 36,250 |
Weighted average yield contractual maturities, Total, available-for-sale | 1.44% | 1.49% |
Due within 1 year, Contractual maturities, available-for-sale | $ 123 | $ 216 |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 1.64% | 0.77% |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 27,690 | $ 31,602 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 1.43% | 1.44% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 126 | $ 4,432 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 1.88% | 1.86% |
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: | ||
Held-to-maturity securities, Amortized Cost | $ 44,675 | $ 44,660 |
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 | $ 20,911 | $ 1,276 |
Percentage of weighted average yield, Due In 1-5 years, held-to-maturity, cost | 2.08% | 1.75% |
Due in 5-10 years, Contractual maturities, held-to-maturity, cost | $ 23,764 | $ 43,384 |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 2.15% | 2.13% |
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 | $ 47,317 | $ 45,167 |
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 | 22,089 | 1,298 |
Due in 5-10 years, Contractual maturities, held-to-maturity, fair value | 25,228 | 43,869 |
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 | $ 54,024 | $ 49,990 |
Weighted average yield contractual maturities, Total, available-for-sale | 5.90% | 5.82% |
Due within 1 year, Contractual maturities, available-for-sale | $ 1,439 | $ 1,969 |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 2.06% | 2.09% |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 8,657 | $ 7,709 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 2.33% | 2.02% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 2,812 | $ 3,010 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 5.50% | 5.25% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 41,116 | $ 37,302 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 6.81% | 6.85% |
Held-to-maturity securities: | ||
Held-to-maturity securities, Amortized Cost | $ 2,181 | $ 2,185 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 5.97% | 5.97% |
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 | $ 119 | $ 104 |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 7.53% | 7.49% |
Due in 10 years or more, Contractual maturities, held-to-maturity, cost | $ 2,062 | $ 2,081 |
Percentage of weighted average yield, Due after 10 years, held-to-maturity, cost | 5.88% | 5.89% |
Held-to-maturity securities, fair value: [Abstract] | ||
Contractual maturities, Total amount, held-to-maturity, fair value | $ 2,332 | $ 2,250 |
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 | 125 | 105 |
Due in 10 years or more, Contractual maturities, held-to-maturity, fair value | 2,207 | 2,145 |
Mortgage-backed securities: [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 115,806 | $ 127,192 |
Weighted average yield contractual maturities, Total, available-for-sale | 3.44% | 3.54% |
Due within 1 year, Contractual maturities, available-for-sale | $ 0 | $ 3 |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 0.00% | 6.55% |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 165 | $ 468 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 3.09% | 1.99% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 2,413 | $ 1,769 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 3.51% | 3.88% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 113,228 | $ 124,952 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 3.44% | 3.55% |
Federal agencies [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 95,868 | $ 104,546 |
Weighted average yield contractual maturities, Total, available-for-sale | 3.20% | 3.29% |
Due within 1 year, Contractual maturities, available-for-sale | $ 0 | $ 3 |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 0.00% | 6.55% |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 135 | $ 373 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 2.61% | 1.58% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 2,374 | $ 1,735 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 3.50% | 3.84% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 93,359 | $ 102,435 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 3.19% | 3.29% |
Held-to-maturity securities: | ||
Held-to-maturity securities, Amortized Cost | $ 49,594 | $ 28,604 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 3.25% | 3.47% |
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 | $ 49,594 | $ 28,604 |
Percentage of weighted average yield, Due after 10 years, held-to-maturity, cost | 3.25% | 3.47% |
Held-to-maturity securities, fair value: [Abstract] | ||
Contractual maturities, Total amount, held-to-maturity, fair value | $ 50,474 | $ 28,421 |
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 | 50,474 | 28,421 |
Residential [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 8,271 | $ 8,558 |
Weighted average yield contractual maturities, Total, available-for-sale | 4.00% | 4.17% |
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 | $ 30 | $ 34 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 5.18% | 5.11% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 39 | $ 34 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 4.23% | 6.03% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 8,202 | $ 8,490 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 3.99% | 4.16% |
Commercial [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 11,667 | $ 14,088 |
Weighted average yield contractual maturities, Total, available-for-sale | 4.96% | 5.06% |
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 | $ 0 | $ 61 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 0.00% | 2.79% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 0 | $ 0 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 0.00% | 0.00% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 11,667 | $ 14,027 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 4.96% | 5.07% |
Corporate debt securities [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 13,380 | $ 15,411 |
Weighted average yield contractual maturities, Total, available-for-sale | 4.76% | 4.57% |
Due within 1 year, Contractual maturities, available-for-sale | $ 2,953 | $ 1,960 |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 3.27% | 3.84% |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 4,313 | $ 6,731 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 5.47% | 4.47% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 4,868 | $ 5,459 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 4.85% | 4.76% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 1,246 | $ 1,261 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 5.45% | 5.47% |
Collateralized loan and other debt obligations [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 34,281 | $ 30,967 |
Weighted average yield contractual maturities, Total, available-for-sale | 2.41% | 2.08% |
Due within 1 year, Contractual maturities, available-for-sale | $ 1 | $ 2 |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 0.98% | 0.33% |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 695 | $ 804 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 1.14% | 0.90% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 16,158 | $ 12,707 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 2.36% | 2.01% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 17,427 | $ 17,454 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 2.50% | 2.19% |
Held-to-maturity securities: | ||
Held-to-maturity securities, Amortized Cost | $ 1,406 | $ 1,405 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 2.36% | 2.03% |
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 | $ 239 | $ 0 |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 2.28% | 0.00% |
Due in 10 years or more, Contractual maturities, held-to-maturity, cost | $ 1,167 | $ 1,405 |
Percentage of weighted average yield, Due after 10 years, held-to-maturity, cost | 2.37% | 2.03% |
Held-to-maturity securities, fair value: [Abstract] | ||
Contractual maturities, Total amount, held-to-maturity, fair value | $ 1,385 | $ 1,381 |
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 | 238 | 0 |
Due in 10 years or more, Contractual maturities, held-to-maturity, fair value | 1,147 | 1,381 |
Other [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 6,274 | $ 5,911 |
Weighted average yield contractual maturities, Total, available-for-sale | 2.04% | 2.05% |
Due within 1 year, Contractual maturities, available-for-sale | $ 48 | $ 68 |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 3.06% | 2.47% |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 1,056 | $ 1,228 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 2.40% | 2.57% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 1,116 | $ 953 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 1.91% | 1.94% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 4,054 | $ 3,662 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 1.98% | 1.89% |
Held-to-maturity securities: | ||
Held-to-maturity securities, Amortized Cost | $ 2,564 | $ 3,343 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 1.59% | 1.68% |
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 | $ 1,916 | $ 2,351 |
Percentage of weighted average yield, Due In 1-5 years, held-to-maturity, cost | 1.65% | 1.74% |
Due in 5-10 years, Contractual maturities, held-to-maturity, cost | $ 648 | $ 992 |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 1.42% | 1.53% |
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 | $ 2,569 | $ 3,348 |
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 | 1,919 | 2,353 |
Due in 5-10 years, Contractual maturities, held-to-maturity, fair value | 650 | 995 |
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 | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Marketable Securities, Realized Gain (Loss) [Abstract] | ||||
Gross realized gains | $ 564 | $ 255 | $ 949 | $ 603 |
Gross realized losses | (31) | (15) | (44) | (35) |
OTTI write-downs | (26) | (21) | (95) | (52) |
Net realized gains from available-for-sale securities | 507 | 219 | 810 | 516 |
Net realized gains from nonmarketable equity investments | 129 | 479 | 314 | 830 |
Net realized gains from debt securities and equity investments | $ 636 | $ 698 | $ 1,124 | $ 1,346 |
Investment Securities, OTTI Inc
Investment Securities, OTTI Included in Earnings (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
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 (1) | $ 26 | $ 21 | 95 | 52 |
Nonmarketable equity investments (1) | 104 | 75 | 233 | 117 |
Total OTTI write-downs included in earnings (1) | 130 | 96 | 328 | 169 |
Total debt securities [Member] | ||||
OTTI write-downs included in earnings (Abstract) | ||||
Total investment securities (1) | 26 | 20 | 91 | 51 |
Securities of U.S. states and political subdivisions [Member] | ||||
OTTI write-downs included in earnings (Abstract) | ||||
Total investment securities (1) | 6 | 0 | 10 | 16 |
Residential [Member] | ||||
OTTI write-downs included in earnings (Abstract) | ||||
Total investment securities (1) | 12 | 19 | 24 | 34 |
Commercial [Member] | ||||
OTTI write-downs included in earnings (Abstract) | ||||
Total investment securities (1) | 0 | 0 | 1 | 0 |
Total marketable equity securities [Member] | ||||
OTTI write-downs included in earnings (Abstract) | ||||
Total investment securities (1) | 0 | 1 | 4 | 1 |
Other marketable equity securities [Member] | ||||
OTTI write-downs included in earnings (Abstract) | ||||
Total investment securities (1) | 0 | 1 | 4 | 1 |
Corporate debt securities [Member] | ||||
OTTI write-downs included in earnings (Abstract) | ||||
Total investment securities (1) | 5 | 1 | 50 | 1 |
Other [Member] | ||||
OTTI write-downs included in earnings (Abstract) | ||||
Total investment securities (1) | 3 | $ 0 | 6 | $ 0 |
Energy [Domain] | ||||
OTTI write-downs included in earnings (Abstract) | ||||
Total OTTI write-downs included in earnings (1) | 29 | 153 | ||
Energy [Domain] | Investment securities [Member] | ||||
OTTI write-downs included in earnings (Abstract) | ||||
Total OTTI write-downs included in earnings (1) | 5 | 51 | ||
Energy [Domain] | Other Assets: Nonmarketable Equity Investments [Member] | ||||
OTTI write-downs included in earnings (Abstract) | ||||
Total OTTI write-downs included in earnings (1) | $ 24 | $ 102 |
Investment Securities, OTTI Deb
Investment Securities, OTTI Debt Securities (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | $ 26 | $ 21 | $ 95 | $ 52 |
Cost And Equity Method, Other Than Temporary Impairment | 104 | 75 | 233 | 117 |
Other Than Temporary Impairment Investments Portion Recognized In Earnings Net | 130 | 96 | 328 | 169 |
Total debt securities [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | 26 | 20 | 91 | 51 |
Total changes to OCI for non-credit-related OTTI | (15) | (10) | (4) | (47) |
Total OTTI losses recorded on debt securities | 11 | 10 | 87 | 4 |
Total debt securities [Member] | Credit-related OTTI [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | 20 | 19 | 81 | 39 |
Total debt securities [Member] | Intent-to-sell OTTI [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | 6 | 1 | 10 | 12 |
Securities of U.S. states and political subdivisions [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | 6 | 0 | 10 | 16 |
Total changes to OCI for non-credit-related OTTI | 0 | 0 | 0 | (1) |
Residential [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | 12 | 19 | 24 | 34 |
Total changes to OCI for non-credit-related OTTI | (5) | (10) | 5 | (31) |
Commercial Mortgage Backed Securities [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | 0 | 0 | 1 | 0 |
Total changes to OCI for non-credit-related OTTI | (1) | 0 | 2 | (15) |
Corporate debt securities [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | 5 | 1 | 50 | 1 |
Total changes to OCI for non-credit-related OTTI | (9) | 0 | (13) | 0 |
Other [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | 3 | 0 | 6 | 0 |
Total changes to OCI for non-credit-related OTTI | 0 | 0 | 2 | 0 |
Equity Securities, Other 1 [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | 0 | 1 | 4 | 1 |
Equity Securities [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | $ 0 | $ 1 | $ 4 | $ 1 |
Investment Securities, Credit L
Investment Securities, Credit Loss Component (Details) - Total debt securities [Member] - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Schedule of Marketable Securities [Line Items] | ||||
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Additions, No Previous Impairment | $ 0 | $ 0 | $ 38 | $ 0 |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||||
Credit loss recognized, beginning of period | 1,145 | 1,029 | 1,092 | 1,025 |
Additions: | ||||
For securities with previous credit impairments | 20 | 19 | 43 | 39 |
Total additions | 20 | 19 | 81 | 39 |
Reductions: | ||||
For securities sold, matured, or intended/required to be sold | (83) | (52) | (89) | (66) |
For recoveries of previous credit impairments | (2) | (3) | (4) | (5) |
Total reductions | (85) | (55) | (93) | (71) |
Credit loss recognized, end of period | $ 1,080 | $ 993 | $ 1,080 | $ 993 |
Loans and Allowance for Credi58
Loans and Allowance for Credit Losses, Loans Outstanding (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Deferred Income | $ 4,800 | $ 3,800 | |
Loans | [1] | 957,157 | 916,559 |
Total Commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 494,538 | 456,583 | |
Commercial and Industrial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 323,858 | 299,892 | |
Commercial real estate mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 128,320 | 122,160 | |
Commercial Real Estate Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 23,387 | 22,164 | |
Lease Financing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 18,973 | 12,367 | |
Total Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 462,619 | 459,976 | |
Real estate 1-4 family first mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 277,162 | 273,869 | |
Real estate 1-4 family junior lien mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 49,772 | 53,004 | |
Credit Card [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 34,137 | 34,039 | |
Automobile [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 61,939 | 59,966 | |
Other revolving credit and installment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 39,609 | 39,098 | |
Geographic Distribution, Foreign [Member] | Total Commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 60,215 | 58,117 | |
Geographic Distribution, Foreign [Member] | Commercial and Industrial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 50,515 | 49,049 | |
Geographic Distribution, Foreign [Member] | Commercial real estate mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 8,467 | 8,350 | |
Geographic Distribution, Foreign [Member] | Commercial Real Estate Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 246 | 444 | |
Geographic Distribution, Foreign [Member] | Lease Financing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 987 | $ 274 | |
[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 | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Loans and Allowance for Credit Losses, Significant Activity [Abstract] | ||||
Purchases | $ 2,607 | $ 10,050 | $ 27,253 | $ 11,141 |
Sales | (792) | (158) | (1,287) | (393) |
Transfers to MHFS/LHFS | (70) | (50) | (105) | (59) |
Commercial Portfolio Segment [Member] | ||||
Loans and Allowance for Credit Losses, Significant Activity [Abstract] | ||||
Purchases | 2,607 | 9,739 | 27,253 | 10,830 |
Sales | (385) | (157) | (608) | (363) |
Transfers to MHFS/LHFS | (69) | (45) | (101) | (52) |
Consumer Portfolio Segment [Member] | ||||
Loans and Allowance for Credit Losses, Significant Activity [Abstract] | ||||
Purchases | 0 | 311 | 0 | 311 |
Sales | (407) | (1) | (679) | (30) |
Transfers to MHFS/LHFS | $ (1) | $ (5) | $ (4) | $ (7) |
Loans and Allowance for Credi60
Loans and Allowance for Credit Losses, Commitments to Lend (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Temporary Advance Arrangements | $ 78,000 | $ 75,000 |
Total unfunded credit commitments | 543,074 | 526,868 |
Commercial Letters of Credit International | 1,200 | 1,100 |
Total Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 330,292 | 322,135 |
Commercial and Industrial Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 303,407 | 296,710 |
Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 7,595 | 7,378 |
Construction Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 19,290 | 18,047 |
Total Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 212,782 | 204,733 |
Real estate 1-4 family first mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 39,392 | 34,621 |
Real estate 1-4 family junior lien mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 42,589 | 43,309 |
Credit Card [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 102,932 | 98,904 |
Other revolving credit and installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | $ 27,869 | $ 27,899 |
Loans and Allowance for Credi61
Loans and Allowance for Credit Losses, Allowance for Credit Losses (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Allowance for credit losses, beginning balance | $ 12,668 | $ 13,013 | $ 12,512 | $ 13,169 | |||
Provision for credit losses | 1,074 | 300 | 2,160 | 908 | |||
Interest income on certain impaired loans | (51) | (50) | (99) | (102) | |||
Loan charge-offs | (1,373) | (1,041) | (2,699) | (2,137) | |||
Loan recoveries | 449 | 391 | 889 | 779 | |||
Net loan charge-offs | (924) | (650) | (1,810) | (1,358) | |||
Other | (18) | 1 | (14) | (3) | |||
Allowance for credit losses, ending balance | 12,749 | 12,614 | 12,749 | 12,614 | |||
Components: | |||||||
Allowance for loan losses | $ 11,664 | $ 11,545 | $ 11,754 | ||||
Allowance for unfunded credit commitments | 1,085 | 860 | |||||
Total allowance for credit losses | $ 12,668 | $ 13,013 | $ 12,512 | $ 13,169 | $ 12,749 | 12,512 | $ 12,614 |
Net loan charge-offs (annualized) as a percentage of average total loans | 0.39% | 0.30% | 0.39% | 0.32% | |||
Allowance for loan losses as a percentage of total loans | 1.22% | 1.32% | |||||
Allowance for credit losses as a percentage of total loans | 1.33% | 1.42% | |||||
Total Commercial [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Allowance for credit losses, beginning balance | $ 7,348 | $ 6,333 | $ 6,872 | $ 6,377 | |||
Provision for credit losses | 478 | 11 | 1,192 | 20 | |||
Interest income on certain impaired loans | (10) | (4) | (15) | (9) | |||
Loan charge-offs | (458) | (174) | (814) | (334) | |||
Loan recoveries | 101 | 112 | 220 | 228 | |||
Net loan charge-offs | (357) | (62) | (594) | (106) | |||
Other | (18) | 1 | (14) | (3) | |||
Allowance for credit losses, ending balance | 7,441 | 6,279 | 7,441 | 6,279 | |||
Components: | |||||||
Total allowance for credit losses | 7,348 | 6,333 | 6,872 | 6,377 | $ 7,441 | 6,872 | $ 6,279 |
Commercial and Industrial Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | (437) | (154) | (786) | (287) | |||
Loan recoveries | 69 | 73 | 145 | 142 | |||
Commercial real estate mortgage [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | (3) | (16) | (6) | (39) | |||
Loan recoveries | 23 | 31 | 55 | 65 | |||
Commercial Real Estate Construction [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | (1) | (1) | (1) | (2) | |||
Loan recoveries | 4 | 7 | 12 | 17 | |||
Lease Financing [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | (17) | (3) | (21) | (6) | |||
Loan recoveries | 5 | 1 | 8 | 4 | |||
Total Consumer [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Allowance for credit losses, beginning balance | 5,320 | 6,680 | 5,640 | 6,792 | |||
Provision for credit losses | 596 | 289 | 968 | 888 | |||
Interest income on certain impaired loans | (41) | (46) | (84) | (93) | |||
Loan charge-offs | (915) | (867) | (1,885) | (1,803) | |||
Loan recoveries | 348 | 279 | 669 | 551 | |||
Net loan charge-offs | (567) | (588) | (1,216) | (1,252) | |||
Other | 0 | 0 | 0 | 0 | |||
Allowance for credit losses, ending balance | 5,308 | 6,335 | 5,308 | 6,335 | |||
Components: | |||||||
Total allowance for credit losses | 5,320 | 6,680 | 5,640 | 6,792 | $ 5,308 | $ 5,640 | $ 6,335 |
Real estate 1-4 family first mortgage [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | (123) | (119) | (260) | (249) | |||
Loan recoveries | 109 | 52 | 198 | 99 | |||
Real estate 1-4 family junior lien mortgage [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | (133) | (163) | (266) | (342) | |||
Loan recoveries | 71 | 69 | 130 | 125 | |||
Credit Card [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | (320) | (284) | (634) | (562) | |||
Loan recoveries | 50 | 41 | 102 | 80 | |||
Automobile [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | (176) | (150) | (387) | (345) | |||
Loan recoveries | 86 | 82 | 170 | 176 | |||
Other revolving credit and installment [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | (163) | (151) | (338) | (305) | |||
Loan recoveries | $ 32 | $ 35 | $ 69 | $ 71 |
Loans and Allowance for Credi62
Loans and Allowance for Credit Losses, Allowance for Credit Losses by Category (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Allowance for credit losses, beginning balance | $ 12,668 | $ 13,013 | $ 12,512 | $ 13,169 |
Provision for credit losses | 1,074 | 300 | 2,160 | 908 |
Interest income on certain impaired loans | (51) | (50) | (99) | (102) |
Loan charge-offs | (1,373) | (1,041) | (2,699) | (2,137) |
Loan recoveries | 449 | 391 | 889 | 779 |
Net loan charge-offs | (924) | (650) | (1,810) | (1,358) |
Other | (18) | 1 | (14) | (3) |
Allowance for credit losses, ending balance | 12,749 | 12,614 | 12,749 | 12,614 |
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Allowance for credit losses, beginning balance | 7,348 | 6,333 | 6,872 | 6,377 |
Provision for credit losses | 478 | 11 | 1,192 | 20 |
Interest income on certain impaired loans | (10) | (4) | (15) | (9) |
Loan charge-offs | (458) | (174) | (814) | (334) |
Loan recoveries | 101 | 112 | 220 | 228 |
Net loan charge-offs | (357) | (62) | (594) | (106) |
Other | (18) | 1 | (14) | (3) |
Allowance for credit losses, ending balance | 7,441 | 6,279 | 7,441 | 6,279 |
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Allowance for credit losses, beginning balance | 5,320 | 6,680 | 5,640 | 6,792 |
Provision for credit losses | 596 | 289 | 968 | 888 |
Interest income on certain impaired loans | (41) | (46) | (84) | (93) |
Loan charge-offs | (915) | (867) | (1,885) | (1,803) |
Loan recoveries | 348 | 279 | 669 | 551 |
Net loan charge-offs | (567) | (588) | (1,216) | (1,252) |
Other | 0 | 0 | 0 | 0 |
Allowance for credit losses, ending balance | $ 5,308 | $ 6,335 | $ 5,308 | $ 6,335 |
Loans and Allowance for Credi63
Loans and Allowance for Credit Losses, Loans by Credit Impairment Methodology (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | |
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | |||||||
Allowance for Credit Losses, Collectively evaluated | $ 9,683 | $ 9,435 | |||||
Allowance for Credit Losses, Individually evaluated | 3,064 | 3,076 | |||||
Total allowance for credit losses | 12,749 | $ 12,668 | 12,512 | $ 12,614 | $ 13,013 | $ 13,169 | |
Financing Receivable, Collectively evaluated | 913,364 | 872,768 | |||||
Financing Receivable, Individually evaluated | 24,456 | 23,820 | |||||
Loans | [1] | 957,157 | 916,559 | ||||
Commercial Portfolio Segment [Member] | |||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | |||||||
Allowance for Credit Losses, Collectively evaluated | 6,233 | 5,999 | |||||
Allowance for Credit Losses, Individually evaluated | 1,206 | 872 | |||||
Total allowance for credit losses | 7,441 | 7,348 | 6,872 | 6,279 | 6,333 | 6,377 | |
Financing Receivable, Collectively evaluated | 487,062 | 452,063 | |||||
Financing Receivable, Individually evaluated | 5,880 | 3,808 | |||||
Loans | 494,538 | 456,583 | |||||
Consumer Portfolio Segment [Member] | |||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | |||||||
Allowance for Credit Losses, Collectively evaluated | 3,450 | 3,436 | |||||
Allowance for Credit Losses, Individually evaluated | 1,858 | 2,204 | |||||
Total allowance for credit losses | 5,308 | $ 5,320 | 5,640 | $ 6,335 | $ 6,680 | $ 6,792 | |
Financing Receivable, Collectively evaluated | 426,302 | 420,705 | |||||
Financing Receivable, Individually evaluated | 18,576 | 20,012 | |||||
Loans | 462,619 | 459,976 | |||||
PCI Loans Carrying Value [Member] | |||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | |||||||
Current-29 DPD and still accruing | 19,337 | 19,971 | |||||
PCI Loans Carrying Value [Member] | Commercial Portfolio Segment [Member] | |||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | |||||||
Current-29 DPD and still accruing | 1,596 | 712 | |||||
PCI Loans Carrying Value [Member] | Consumer Portfolio Segment [Member] | |||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | |||||||
Current-29 DPD and still accruing | 17,741 | 19,259 | |||||
Allowance for Doubtful Accounts [Member] | |||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | |||||||
Total allowance for credit losses | 2 | 1 | |||||
Allowance for Doubtful Accounts [Member] | Commercial Portfolio Segment [Member] | |||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | |||||||
Total allowance for credit losses | 2 | 1 | |||||
Allowance for Doubtful Accounts [Member] | Consumer Portfolio Segment [Member] | |||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | |||||||
Total allowance for credit losses | $ 0 | $ 0 | |||||
[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 | Jun. 30, 2016 | Dec. 31, 2015 | Dec. 31, 2008 | |
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | [1] | $ 957,157 | $ 916,559 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 11,963 | 11,382 | ||
Commercial Real Estate Mortgage and Construction Loans [Member] | Criticized [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 6,300 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 931 | |||
Total Commercial [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 494,538 | 456,583 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 4,507 | 2,424 | ||
Commercial and Industrial Loans [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 323,858 | 299,892 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 3,464 | 1,363 | ||
Real Estate Loan [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 128,320 | 122,160 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 872 | 969 | ||
Construction Loans [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 23,387 | 22,164 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 59 | 66 | ||
Lease Financing [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 18,973 | 12,367 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 112 | 26 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Commercial [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 492,942 | 455,871 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 4,507 | 2,424 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Commercial [Member] | Pass [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 459,258 | 429,699 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Commercial [Member] | Criticized [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 33,684 | 26,172 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial and Industrial Loans [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 322,778 | 299,814 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 3,464 | 1,363 | ||
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 | 297,032 | 281,356 | ||
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 | 25,746 | 18,458 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Real Estate Loan [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 127,874 | 121,618 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 872 | 969 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Real Estate Loan [Member] | Pass [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 122,078 | 115,025 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Real Estate Loan [Member] | Criticized [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 5,796 | 6,593 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Construction Loans [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 23,317 | 22,072 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 59 | 66 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Construction Loans [Member] | Pass [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 22,817 | 21,546 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Construction Loans [Member] | Criticized [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 500 | 526 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Lease Financing [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 18,973 | 12,367 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 112 | 26 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Lease Financing [Member] | Pass [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 17,331 | 11,772 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Lease Financing [Member] | Criticized [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans, excluding Purchased Credit Impaired Loans | 1,642 | 595 | ||
PCI Loans Carrying Value [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Financing Receivable, Net | 19,337 | 19,971 | ||
PCI Loans Carrying Value [Member] | Total Commercial [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Financing Receivable, Net | 1,596 | 712 | $ 18,700 | |
PCI Loans Carrying Value [Member] | Commercial and Industrial Loans [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Financing Receivable, Net | 1,080 | 78 | ||
PCI Loans Carrying Value [Member] | Real Estate Loan [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Financing Receivable, Net | 446 | 542 | ||
PCI Loans Carrying Value [Member] | Construction Loans [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Financing Receivable, Net | 70 | 92 | ||
PCI Loans Carrying Value [Member] | Lease Financing [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Financing Receivable, Net | $ 0 | $ 0 | ||
[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 | Jun. 30, 2016 | Dec. 31, 2015 | Dec. 31, 2008 | |
By delinquency status: | ||||
Over 90 DPD and still accruing | $ 12,385 | $ 14,380 | ||
Nonaccrual loans | 11,963 | 11,382 | ||
Loans | [1] | 957,157 | 916,559 | |
Total Commercial [Member] | ||||
By delinquency status: | ||||
Nonaccrual loans | 4,507 | 2,424 | ||
Loans | 494,538 | 456,583 | ||
Commercial and Industrial Loans [Member] | ||||
By delinquency status: | ||||
Nonaccrual loans | 3,464 | 1,363 | ||
Loans | 323,858 | 299,892 | ||
Real Estate Loan [Member] | ||||
By delinquency status: | ||||
Nonaccrual loans | 872 | 969 | ||
Loans | 128,320 | 122,160 | ||
Construction Loans [Member] | ||||
By delinquency status: | ||||
Nonaccrual loans | 59 | 66 | ||
Loans | 23,387 | 22,164 | ||
Lease Financing [Member] | ||||
By delinquency status: | ||||
Nonaccrual loans | 112 | 26 | ||
Loans | 18,973 | 12,367 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Commercial [Member] | ||||
By delinquency status: | ||||
Current-29 DPD and still accruing | 487,399 | 452,495 | ||
30-89 DPD and still accruing | 978 | 838 | ||
Over 90 DPD and still accruing | 58 | 114 | ||
Nonaccrual loans | 4,507 | 2,424 | ||
Loans, excluding Purchased Credit Impaired Loans | 492,942 | 455,871 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial and Industrial Loans [Member] | ||||
By delinquency status: | ||||
Current-29 DPD and still accruing | 318,731 | 297,847 | ||
30-89 DPD and still accruing | 547 | 507 | ||
Over 90 DPD and still accruing | 36 | 97 | ||
Nonaccrual loans | 3,464 | 1,363 | ||
Loans, excluding Purchased Credit Impaired Loans | 322,778 | 299,814 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Real Estate Loan [Member] | ||||
By delinquency status: | ||||
Current-29 DPD and still accruing | 126,792 | 120,415 | ||
30-89 DPD and still accruing | 188 | 221 | ||
Over 90 DPD and still accruing | 22 | 13 | ||
Nonaccrual loans | 872 | 969 | ||
Loans, excluding Purchased Credit Impaired Loans | 127,874 | 121,618 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Construction Loans [Member] | ||||
By delinquency status: | ||||
Current-29 DPD and still accruing | 23,140 | 21,920 | ||
30-89 DPD and still accruing | 118 | 82 | ||
Over 90 DPD and still accruing | 0 | 4 | ||
Nonaccrual loans | 59 | 66 | ||
Loans, excluding Purchased Credit Impaired Loans | 23,317 | 22,072 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Lease Financing [Member] | ||||
By delinquency status: | ||||
Current-29 DPD and still accruing | 18,736 | 12,313 | ||
30-89 DPD and still accruing | 125 | 28 | ||
Over 90 DPD and still accruing | 0 | 0 | ||
Nonaccrual loans | 112 | 26 | ||
Loans, excluding Purchased Credit Impaired Loans | 18,973 | 12,367 | ||
PCI Loans Carrying Value [Member] | ||||
By delinquency status: | ||||
Current-29 DPD and still accruing | 19,337 | 19,971 | ||
Financing Receivable, Net | 19,337 | 19,971 | ||
PCI Loans Carrying Value [Member] | Total Commercial [Member] | ||||
By delinquency status: | ||||
Current-29 DPD and still accruing | 1,596 | 712 | ||
Financing Receivable, Net | 1,596 | 712 | $ 18,700 | |
PCI Loans Carrying Value [Member] | Commercial and Industrial Loans [Member] | ||||
By delinquency status: | ||||
Financing Receivable, Net | 1,080 | 78 | ||
PCI Loans Carrying Value [Member] | Real Estate Loan [Member] | ||||
By delinquency status: | ||||
Financing Receivable, Net | 446 | 542 | ||
PCI Loans Carrying Value [Member] | Construction Loans [Member] | ||||
By delinquency status: | ||||
Financing Receivable, Net | 70 | 92 | ||
PCI Loans Carrying Value [Member] | Lease Financing [Member] | ||||
By delinquency status: | ||||
Financing Receivable, Net | 0 | 0 | ||
Pass [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Commercial [Member] | ||||
By delinquency status: | ||||
Loans, excluding Purchased Credit Impaired Loans | 459,258 | 429,699 | ||
Pass [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial and Industrial Loans [Member] | ||||
By delinquency status: | ||||
Loans, excluding Purchased Credit Impaired Loans | 297,032 | 281,356 | ||
Pass [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real Estate Loan [Member] | ||||
By delinquency status: | ||||
Loans, excluding Purchased Credit Impaired Loans | 122,078 | 115,025 | ||
Pass [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Construction Loans [Member] | ||||
By delinquency status: | ||||
Loans, excluding Purchased Credit Impaired Loans | 22,817 | 21,546 | ||
Pass [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Lease Financing [Member] | ||||
By delinquency status: | ||||
Loans, excluding Purchased Credit Impaired Loans | 17,331 | 11,772 | ||
Criticized [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Commercial [Member] | ||||
By delinquency status: | ||||
Loans, excluding Purchased Credit Impaired Loans | 33,684 | 26,172 | ||
Criticized [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial and Industrial Loans [Member] | ||||
By delinquency status: | ||||
Loans, excluding Purchased Credit Impaired Loans | 25,746 | 18,458 | ||
Criticized [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real Estate Loan [Member] | ||||
By delinquency status: | ||||
Loans, excluding Purchased Credit Impaired Loans | 5,796 | 6,593 | ||
Criticized [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Construction Loans [Member] | ||||
By delinquency status: | ||||
Loans, excluding Purchased Credit Impaired Loans | 500 | 526 | ||
Criticized [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Lease Financing [Member] | ||||
By delinquency status: | ||||
Loans, excluding Purchased Credit Impaired Loans | $ 1,642 | $ 595 | ||
[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 | Jun. 30, 2016 | Dec. 31, 2015 | Dec. 31, 2008 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
90 days or more past due and still accruing | $ 12,385 | $ 14,380 | ||
By delinquency status: | ||||
Loans | [1] | 957,157 | 916,559 | |
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 | 11,577 | 13,373 | ||
Total Consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
90 days or more past due and still accruing | 730 | 867 | ||
By delinquency status: | ||||
Loans | $ 462,619 | $ 459,976 | ||
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 | 0.90% | 1.30% | ||
Loans | $ 277,162 | $ 273,869 | ||
Real estate 1-4 family junior lien mortgage [Member] | ||||
By delinquency status: | ||||
Loans | 49,772 | 53,004 | ||
Credit Card [Member] | ||||
By delinquency status: | ||||
Loans | 34,137 | 34,039 | ||
Automobile Loan [Member] | ||||
By delinquency status: | ||||
Loans | 61,939 | 59,966 | ||
Other revolving credit and installment [Member] | ||||
By delinquency status: | ||||
Loans | 39,609 | 39,098 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Consumer [Member] | ||||
By delinquency status: | ||||
Current-29 DPD | 415,222 | 407,374 | ||
90-119 DPD | 679 | 832 | ||
120-179 DPD | 699 | 876 | ||
180 or more DPD | 2,789 | 3,790 | ||
Government insured/guaranteed loans | 20,580 | 22,353 | ||
Loans, excluding Purchased Credit Impaired Loans | 444,878 | 440,717 | ||
Financing Receivables 30 to 59 Days Past Due | 3,521 | 3,950 | ||
Financing Receivables, 60 to 89 Days Past Due | 1,388 | 1,542 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By delinquency status: | ||||
Current-29 DPD | 233,153 | 225,195 | ||
90-119 DPD | 317 | 402 | ||
120-179 DPD | 341 | 460 | ||
180 or more DPD | 2,419 | 3,376 | ||
Government insured/guaranteed loans | 20,580 | 22,353 | ||
Loans, excluding Purchased Credit Impaired Loans | 259,472 | 254,679 | ||
Financing Receivables 30 to 59 Days Past Due | 1,916 | 2,072 | ||
Financing Receivables, 60 to 89 Days Past Due | 746 | 821 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By delinquency status: | ||||
Current-29 DPD | 48,712 | 51,778 | ||
90-119 DPD | 91 | 110 | ||
120-179 DPD | 109 | 145 | ||
180 or more DPD | 348 | 393 | ||
Government insured/guaranteed loans | 0 | 0 | ||
Loans, excluding Purchased Credit Impaired Loans | 49,721 | 52,935 | ||
Financing Receivables 30 to 59 Days Past Due | 298 | 325 | ||
Financing Receivables, 60 to 89 Days Past Due | 163 | 184 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Credit Card [Member] | ||||
By delinquency status: | ||||
Current-29 DPD | 33,403 | 33,208 | ||
90-119 DPD | 123 | 150 | ||
120-179 DPD | 224 | 246 | ||
180 or more DPD | 1 | 1 | ||
Government insured/guaranteed loans | 0 | 0 | ||
Loans, excluding Purchased Credit Impaired Loans | 34,137 | 34,039 | ||
Financing Receivables 30 to 59 Days Past Due | 227 | 257 | ||
Financing Receivables, 60 to 89 Days Past Due | 159 | 177 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Automobile Loan [Member] | ||||
By delinquency status: | ||||
Current-29 DPD | 60,697 | 58,503 | ||
90-119 DPD | 68 | 84 | ||
120-179 DPD | 4 | 4 | ||
180 or more DPD | 0 | 1 | ||
Government insured/guaranteed loans | 0 | 0 | ||
Loans, excluding Purchased Credit Impaired Loans | 61,939 | 59,966 | ||
Financing Receivables 30 to 59 Days Past Due | 947 | 1,121 | ||
Financing Receivables, 60 to 89 Days Past Due | 223 | 253 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Other revolving credit and installment [Member] | ||||
By delinquency status: | ||||
Current-29 DPD | 39,257 | 38,690 | ||
90-119 DPD | 80 | 86 | ||
120-179 DPD | 21 | 21 | ||
180 or more DPD | 21 | 19 | ||
Government insured/guaranteed loans | 0 | 0 | ||
Loans, excluding Purchased Credit Impaired Loans | 39,609 | 39,098 | ||
Financing Receivables 30 to 59 Days Past Due | 133 | 175 | ||
Financing Receivables, 60 to 89 Days Past Due | 97 | 107 | ||
PCI Loans Carrying Value [Member] | ||||
By delinquency status: | ||||
Current-29 DPD | 19,337 | 19,971 | ||
Financing Receivable, Net | 19,337 | 19,971 | ||
PCI Loans Carrying Value [Member] | Total Consumer [Member] | ||||
By delinquency status: | ||||
Current-29 DPD | 17,741 | 19,259 | ||
Financing Receivable, Net | 17,741 | 19,259 | $ 40,100 | |
PCI Loans Carrying Value [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By delinquency status: | ||||
Financing Receivable, Net | 17,690 | 19,190 | ||
PCI Loans Carrying Value [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By delinquency status: | ||||
Financing Receivable, Net | 51 | 69 | ||
PCI Loans Carrying Value [Member] | Credit Card [Member] | ||||
By delinquency status: | ||||
Financing Receivable, Net | 0 | 0 | ||
PCI Loans Carrying Value [Member] | Automobile Loan [Member] | ||||
By delinquency status: | ||||
Financing Receivable, Net | 0 | 0 | ||
PCI Loans Carrying Value [Member] | Other revolving credit and installment [Member] | ||||
By delinquency status: | ||||
Financing Receivable, Net | 0 | 0 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Real Estate Loans Government Guaranteed Or Insured [Member] | ||||
By delinquency status: | ||||
Government insured/guaranteed loans | 10,800 | 12,400 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Total Consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
90 days or more past due and still accruing | $ 4,200 | $ 5,500 | ||
[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 | Jun. 30, 2016 | Dec. 31, 2015 | Dec. 31, 2008 | |
By FICO: | ||||
Loans | [1] | $ 957,157 | $ 916,559 | |
90 days or more past due and still accruing | 12,385 | 14,380 | ||
Total Consumer [Member] | ||||
By FICO: | ||||
Loans | 462,619 | 459,976 | ||
90 days or more past due and still accruing | 730 | 867 | ||
Real estate 1-4 family first mortgage [Member] | ||||
By FICO: | ||||
Loans | 277,162 | 273,869 | ||
Real estate 1-4 family junior lien mortgage [Member] | ||||
By FICO: | ||||
Loans | 49,772 | 53,004 | ||
Credit Card [Member] | ||||
By FICO: | ||||
Loans | 34,137 | 34,039 | ||
Automobile Loan [Member] | ||||
By FICO: | ||||
Loans | 61,939 | 59,966 | ||
Other revolving credit and installment [Member] | ||||
By FICO: | ||||
Loans | 39,609 | 39,098 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Consumer [Member] | ||||
By FICO: | ||||
Less than 600 | 24,229 | 24,893 | ||
600-639 | 19,385 | 19,908 | ||
640-679 | 34,704 | 35,403 | ||
680-719 | 53,889 | 54,515 | ||
720-759 | 70,216 | 70,581 | ||
760-799 | 136,864 | 131,149 | ||
800 and greater | 69,499 | 67,601 | ||
No FICO available | 7,980 | 7,337 | ||
FICO not required | 7,532 | 6,977 | ||
Government insured/guaranteed loans | 20,580 | 22,353 | ||
Loans, excluding Purchased Credit Impaired Loans | 444,878 | 440,717 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By FICO: | ||||
Less than 600 | 7,842 | 8,716 | ||
600-639 | 6,253 | 6,961 | ||
640-679 | 12,538 | 13,006 | ||
680-719 | 24,250 | 24,460 | ||
720-759 | 38,140 | 38,309 | ||
760-799 | 99,093 | 92,975 | ||
800 and greater | 46,613 | 44,452 | ||
No FICO available | 4,163 | 3,447 | ||
FICO not required | 0 | 0 | ||
Government insured/guaranteed loans | 20,580 | 22,353 | ||
Loans, excluding Purchased Credit Impaired Loans | 259,472 | 254,679 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By FICO: | ||||
Less than 600 | 2,614 | 3,025 | ||
600-639 | 2,184 | 2,367 | ||
640-679 | 4,127 | 4,613 | ||
680-719 | 7,147 | 7,863 | ||
720-759 | 10,360 | 10,966 | ||
760-799 | 15,752 | 16,369 | ||
800 and greater | 6,782 | 6,895 | ||
No FICO available | 755 | 837 | ||
FICO not required | 0 | 0 | ||
Government insured/guaranteed loans | 0 | 0 | ||
Loans, excluding Purchased Credit Impaired Loans | 49,721 | 52,935 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Credit Card [Member] | ||||
By FICO: | ||||
Less than 600 | 3,048 | 2,927 | ||
600-639 | 2,893 | 2,875 | ||
640-679 | 5,326 | 5,354 | ||
680-719 | 6,937 | 6,857 | ||
720-759 | 7,201 | 7,017 | ||
760-799 | 5,836 | 5,693 | ||
800 and greater | 2,792 | 3,090 | ||
No FICO available | 104 | 226 | ||
FICO not required | 0 | 0 | ||
Government insured/guaranteed loans | 0 | 0 | ||
Loans, excluding Purchased Credit Impaired Loans | 34,137 | 34,039 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Automobile Loan [Member] | ||||
By FICO: | ||||
Less than 600 | 9,782 | 9,260 | ||
600-639 | 6,999 | 6,619 | ||
640-679 | 10,335 | 10,014 | ||
680-719 | 11,188 | 10,947 | ||
720-759 | 8,528 | 8,279 | ||
760-799 | 7,923 | 7,761 | ||
800 and greater | 6,747 | 6,654 | ||
No FICO available | 437 | 432 | ||
FICO not required | 0 | 0 | ||
Government insured/guaranteed loans | 0 | 0 | ||
Loans, excluding Purchased Credit Impaired Loans | 61,939 | 59,966 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Other revolving credit and installment [Member] | ||||
By FICO: | ||||
Less than 600 | 943 | 965 | ||
600-639 | 1,056 | 1,086 | ||
640-679 | 2,378 | 2,416 | ||
680-719 | 4,367 | 4,388 | ||
720-759 | 5,987 | 6,010 | ||
760-799 | 8,260 | 8,351 | ||
800 and greater | 6,565 | 6,510 | ||
No FICO available | 2,521 | 2,395 | ||
FICO not required | 7,532 | 6,977 | ||
Government insured/guaranteed loans | 0 | 0 | ||
Loans, excluding Purchased Credit Impaired Loans | 39,609 | 39,098 | ||
PCI Loans Carrying Value [Member] | ||||
By FICO: | ||||
Financing Receivable, Net | 19,337 | 19,971 | ||
PCI Loans Carrying Value [Member] | Total Consumer [Member] | ||||
By FICO: | ||||
Financing Receivable, Net | 17,741 | 19,259 | $ 40,100 | |
PCI Loans Carrying Value [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By FICO: | ||||
Financing Receivable, Net | 17,690 | 19,190 | ||
PCI Loans Carrying Value [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By FICO: | ||||
Financing Receivable, Net | 51 | 69 | ||
PCI Loans Carrying Value [Member] | Credit Card [Member] | ||||
By FICO: | ||||
Financing Receivable, Net | 0 | 0 | ||
PCI Loans Carrying Value [Member] | Automobile Loan [Member] | ||||
By FICO: | ||||
Financing Receivable, Net | 0 | 0 | ||
PCI Loans Carrying Value [Member] | Other revolving credit and installment [Member] | ||||
By FICO: | ||||
Financing Receivable, Net | 0 | 0 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Total Consumer [Member] | ||||
By FICO: | ||||
90 days or more past due and still accruing | $ 4,200 | $ 5,500 | ||
[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 ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
High Value Properties, Threshold | $ 1 | ||
By LTV/CLTV: | |||
Loans | [1] | 957,157 | $ 916,559 |
Nonaccrual loans | 11,963 | 11,382 | |
Residential Mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 326,934 | 326,873 | |
Residential Mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
0-60% | 130,376 | 125,363 | |
60.01-80% | 110,752 | 108,584 | |
80.01-100% | 33,282 | 34,150 | |
100.01-120% | 8,276 | 10,025 | |
Greater than 120% | 4,004 | 5,116 | |
No LTV/CLTV available | 1,923 | 2,023 | |
Government insured/guaranteed loans | 20,580 | 22,353 | |
Loans, excluding Purchased Credit Impaired Loans | 309,193 | 307,614 | |
Real estate 1-4 family first mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 277,162 | 273,869 | |
Nonaccrual loans | 5,970 | 7,293 | |
Real estate 1-4 family first mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
0-60% | 114,333 | 109,558 | |
60.01-80% | 94,888 | 92,005 | |
80.01-100% | 23,065 | 22,765 | |
100.01-120% | 3,603 | 4,480 | |
Greater than 120% | 1,607 | 2,065 | |
No LTV/CLTV available | 1,396 | 1,453 | |
Government insured/guaranteed loans | 20,580 | 22,353 | |
Loans, excluding Purchased Credit Impaired Loans | 259,472 | 254,679 | |
Real estate 1-4 family junior lien mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 49,772 | 53,004 | |
Nonaccrual loans | 1,330 | 1,495 | |
Real estate 1-4 family junior lien mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
0-60% | 16,043 | 15,805 | |
60.01-80% | 15,864 | 16,579 | |
80.01-100% | 10,217 | 11,385 | |
100.01-120% | 4,673 | 5,545 | |
Greater than 120% | 2,397 | 3,051 | |
No LTV/CLTV available | 527 | 570 | |
Government insured/guaranteed loans | 0 | 0 | |
Loans, excluding Purchased Credit Impaired Loans | 49,721 | 52,935 | |
PCI Loans Carrying Value [Member] | |||
By LTV/CLTV: | |||
Financing Receivable, Net | 19,337 | 19,971 | |
PCI Loans Carrying Value [Member] | Real estate 1-4 family first mortgage [Member] | |||
By LTV/CLTV: | |||
Financing Receivable, Net | 17,690 | 19,190 | |
PCI Loans Carrying Value [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By LTV/CLTV: | |||
Financing Receivable, Net | 51 | 69 | |
PCI Loans Carrying Value [Member] | Residential Mortgage [Member] | |||
By LTV/CLTV: | |||
Financing Receivable, Net | $ 17,741 | $ 19,259 | |
[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 | Jun. 30, 2016 | Dec. 31, 2015 |
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | $ 11,963 | $ 11,382 |
Total Commercial [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 4,507 | 2,424 |
Commercial and Industrial Loans [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 3,464 | 1,363 |
Commercial real estate mortgage [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 872 | 969 |
Commercial Real Estate Construction [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 59 | 66 |
Lease Financing [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 112 | 26 |
Total Consumer [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 7,456 | 8,958 |
Real estate 1-4 family first mortgage [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 5,970 | 7,293 |
Real estate 1-4 family junior lien mortgage [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 1,330 | 1,495 |
Automobile [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 111 | 121 |
Other revolving credit and installment [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 45 | 49 |
Mortgages held for sale [Member] | Real estate 1-4 family first mortgage [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 155 | 177 |
In Process Of Foreclosure [Member] | ||
Nonaccrual Loans [Abstract] | ||
Recorded Investment Amount In Consumer Mortgage Loans Collateralized By Residential Real Estate Property | 9,400 | 11,000 |
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 | $ 5,300 | $ 6,200 |
Loans and Allowance for Credi70
Loans and Allowance for Credit Losses, 90 Days or More Past Due and Still Accruing (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | $ 12,385 | $ 14,380 |
FHA Insured/VA Guaranteed [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 11,577 | 13,373 |
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 | 20 | 26 |
Total Consumer [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 730 | 867 |
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 | 788 | 981 |
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 | 58 | 114 |
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 | 36 | 97 |
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 | 22 | 13 |
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 | 4 |
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 | 730 | 867 |
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 | 169 | 224 |
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 | 52 | 65 |
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 | 348 | 397 |
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 | 64 | 79 |
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 | 97 | 102 |
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 | 2,400 | 2,900 |
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 | 20 | 30 |
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 | 0 | 2 |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | Total Commercial [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 58 | 114 |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [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 | 36 | 97 |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [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 | 22 | 13 |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [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 | $ 4 |
Loans and Allowance for Credi71
Loans and Allowance for Credit Losses, Impaired Loans (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Impaired Loans [Abstract] | ||
Unpaid principal balance | $ 28,835 | $ 28,303 |
Impaired loans | 24,456 | 23,820 |
Impaired loans with related allowance for credit losses | 18,231 | 16,887 |
Related allowance for credit losses | 3,064 | 3,076 |
Loans and Leases Receivable, Impaired, Commitment to Lend | 198 | 363 |
Total Commercial [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 7,750 | 5,415 |
Impaired loans | 5,880 | 3,808 |
Impaired loans with related allowance for credit losses | 5,643 | 3,560 |
Related allowance for credit losses | 1,206 | 872 |
Commercial and Industrial Loans [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 5,270 | 2,746 |
Impaired loans | 3,977 | 1,835 |
Impaired loans with related allowance for credit losses | 3,766 | 1,648 |
Related allowance for credit losses | 846 | 435 |
Real Estate Loan [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 2,141 | 2,369 |
Impaired loans | 1,681 | 1,815 |
Impaired loans with related allowance for credit losses | 1,669 | 1,773 |
Related allowance for credit losses | 310 | 405 |
Construction Loans [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 210 | 262 |
Impaired loans | 112 | 131 |
Impaired loans with related allowance for credit losses | 98 | 112 |
Related allowance for credit losses | 23 | 23 |
Lease Financing [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 129 | 38 |
Impaired loans | 110 | 27 |
Impaired loans with related allowance for credit losses | 110 | 27 |
Related allowance for credit losses | 27 | 9 |
Total Consumer [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 21,085 | 22,888 |
Impaired loans | 18,576 | 20,012 |
Impaired loans with related allowance for credit losses | 12,588 | 13,327 |
Related allowance for credit losses | 1,858 | 2,204 |
Real estate 1-4 family first mortgage [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 17,975 | 19,626 |
Impaired loans | 15,799 | 17,121 |
Impaired loans with related allowance for credit losses | 10,426 | 11,057 |
Related allowance for credit losses | 1,335 | 1,643 |
Real estate 1-4 family junior lien mortgage [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 2,567 | 2,704 |
Impaired loans | 2,306 | 2,408 |
Impaired loans with related allowance for credit losses | 1,757 | 1,859 |
Related allowance for credit losses | 409 | 447 |
Credit Card [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 291 | 299 |
Impaired loans | 291 | 299 |
Impaired loans with related allowance for credit losses | 291 | 299 |
Related allowance for credit losses | 94 | 94 |
Automobile [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 157 | 173 |
Impaired loans | 92 | 105 |
Impaired loans with related allowance for credit losses | 34 | 41 |
Related allowance for credit losses | 5 | 5 |
Other revolving credit and installment [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 95 | 86 |
Impaired loans | 88 | 79 |
Impaired loans with related allowance for credit losses | 80 | 71 |
Related allowance for credit losses | 15 | 15 |
Trial modifications [Member] | ||
Impaired Loans [Abstract] | ||
Impaired loans | 364 | 402 |
Impaired Loans [Member] | Consumer Real Estate Loans Government Guaranteed Or Insured [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Government insured/guaranteed loans | $ 1,700 | $ 1,800 |
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 | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | $ 24,781 | $ 24,840 | $ 24,499 | $ 25,023 |
Recognized interest income | 315 | 349 | 636 | 697 |
Interest income: | ||||
Cash basis of accounting | 92 | 111 | 187 | 219 |
Other | 223 | 238 | 449 | 478 |
Total Commercial [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 5,707 | 3,676 | 5,077 | 3,687 |
Recognized interest income | 58 | 65 | 111 | 132 |
Commercial and Industrial Loans [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 3,803 | 1,109 | 3,146 | 1,050 |
Recognized interest income | 21 | 23 | 40 | 43 |
Commercial real estate mortgage [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 1,695 | 2,280 | 1,730 | 2,331 |
Recognized interest income | 34 | 31 | 66 | 74 |
Commercial Real Estate Construction [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 116 | 264 | 122 | 284 |
Recognized interest income | 3 | 11 | 5 | 15 |
Lease Financing [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 93 | 23 | 79 | 22 |
Recognized interest income | 0 | 0 | 0 | 0 |
Total Consumer [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 19,074 | 21,164 | 19,422 | 21,336 |
Recognized interest income | 257 | 284 | 525 | 565 |
Real estate 1-4 family first mortgage [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 16,278 | 18,161 | 16,595 | 18,321 |
Recognized interest income | 211 | 235 | 432 | 466 |
Real estate 1-4 family junior lien mortgage [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 2,325 | 2,507 | 2,354 | 2,514 |
Recognized interest income | 33 | 34 | 67 | 69 |
Credit Card [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 293 | 321 | 295 | 326 |
Recognized interest income | 8 | 10 | 17 | 20 |
Automobile [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 94 | 118 | 98 | 121 |
Recognized interest income | 3 | 4 | 6 | 8 |
Other revolving credit and installment [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 84 | 57 | 80 | 54 |
Recognized interest income | $ 2 | $ 1 | $ 3 | $ 2 |
Loans and Allowance for Credi73
Loans and Allowance for Credit Losses, Troubled Debt Restructurings Modifications by Type (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructuring balance | $ 22,000 | $ 22,000 | $ 22,700 | ||
Impaired Financing Receivable, Recorded Investment | 24,456 | 24,456 | 23,820 | ||
Loans remodified | 301 | $ 566 | 649 | $ 1,100 | |
Financing Receivable Modifications Principal Forgiven | 19 | 20 | 38 | 46 | |
Primary modification type | |||||
Principal | 99 | 92 | 243 | 215 | |
Interest rate reduction | 235 | 213 | 487 | 399 | |
Other concessions | 1,230 | 1,238 | 2,579 | 2,409 | |
Total | 1,564 | 1,543 | 3,309 | 3,023 | |
Financial effects of modifications | |||||
Charge-offs | $ 168 | $ 28 | $ 306 | $ 68 | |
Weighted average interest rate reduction | 3.88% | 3.79% | 3.88% | 3.84% | |
Recorded investment related to interest rate reduction | $ 300 | $ 288 | $ 611 | $ 562 | |
Home Affordable Modification Program [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 137 | 137 | 130 | ||
Second Lien Modification Program [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 29 | 29 | 32 | ||
Proprietary Program [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 198 | 198 | 240 | ||
Trial modifications [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 364 | 364 | 402 | ||
Trial modifications [Member] | Financing Receivable Accruing [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 128 | 128 | 136 | ||
Trial modifications [Member] | Financing Receivable Nonaccruing [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 236 | 236 | $ 266 | ||
Trial modifications [Member] | |||||
Primary modification type | |||||
Principal | 0 | 0 | 0 | 0 | |
Interest rate reduction | 0 | 0 | 0 | 0 | |
Other concessions | 17 | 46 | 32 | 44 | |
Total | 17 | 46 | 32 | 44 | |
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 | |
Commercial Loan [Member] | |||||
Primary modification type | |||||
Principal | 0 | 0 | 42 | 0 | |
Interest rate reduction | 35 | 5 | 113 | 15 | |
Other concessions | 697 | 425 | 1,329 | 649 | |
Total | 732 | 430 | 1,484 | 664 | |
Financial effects of modifications | |||||
Charge-offs | $ 137 | $ 0 | $ 243 | $ 2 | |
Weighted average interest rate reduction | 2.29% | 0.96% | 2.02% | 0.83% | |
Recorded investment related to interest rate reduction | $ 35 | $ 5 | $ 113 | $ 15 | |
Commercial Portfolio Segment [Member] | |||||
Primary modification type | |||||
Principal | 0 | 4 | 42 | 15 | |
Interest rate reduction | 78 | 56 | 180 | 88 | |
Other concessions | 850 | 709 | 1,689 | 1,286 | |
Total | 928 | 769 | 1,911 | 1,389 | |
Financial effects of modifications | |||||
Charge-offs | $ 137 | $ 0 | $ 243 | $ 3 | |
Weighted average interest rate reduction | 1.70% | 1.62% | 1.71% | 1.45% | |
Recorded investment related to interest rate reduction | $ 77 | $ 56 | $ 179 | $ 88 | |
Consumer Portfolio Segment [Member] | |||||
Primary modification type | |||||
Principal | 99 | 88 | 201 | 200 | |
Interest rate reduction | 157 | 157 | 307 | 311 | |
Other concessions | 380 | 529 | 890 | 1,123 | |
Total | 636 | 774 | 1,398 | 1,634 | |
Financial effects of modifications | |||||
Charge-offs | $ 31 | $ 28 | $ 63 | $ 65 | |
Weighted average interest rate reduction | 4.64% | 4.31% | 4.79% | 4.29% | |
Recorded investment related to interest rate reduction | $ 223 | $ 232 | $ 432 | $ 474 | |
Real Estate Loan [Member] | |||||
Primary modification type | |||||
Principal | 0 | 4 | 0 | 4 | |
Interest rate reduction | 29 | 49 | 53 | 70 | |
Other concessions | 135 | 271 | 294 | 580 | |
Total | 164 | 324 | 347 | 654 | |
Financial effects of modifications | |||||
Charge-offs | $ 0 | $ 0 | $ 0 | $ 1 | |
Weighted average interest rate reduction | 1.30% | 1.73% | 1.22% | 1.61% | |
Recorded investment related to interest rate reduction | $ 28 | $ 49 | $ 52 | $ 70 | |
Construction Loans [Member] | |||||
Primary modification type | |||||
Principal | 0 | 0 | 0 | 11 | |
Interest rate reduction | 14 | 2 | 14 | 3 | |
Other concessions | 18 | 13 | 62 | 57 | |
Total | 32 | 15 | 76 | 71 | |
Financial effects of modifications | |||||
Charge-offs | $ 0 | $ 0 | $ 0 | $ 0 | |
Weighted average interest rate reduction | 1.05% | 0.86% | 1.05% | 0.62% | |
Recorded investment related to interest rate reduction | $ 14 | $ 2 | $ 14 | $ 3 | |
Finance Leases Portfolio Segment [Member] | |||||
Primary modification type | |||||
Principal | 0 | 0 | 0 | 0 | |
Interest rate reduction | 0 | 0 | 0 | 0 | |
Other concessions | 0 | 0 | 4 | 0 | |
Total | 0 | 0 | 4 | 0 | |
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 | |
First Mortgage [Member] | |||||
Primary modification type | |||||
Principal | 92 | 78 | 188 | 182 | |
Interest rate reduction | 78 | 88 | 143 | 171 | |
Other concessions | 314 | 425 | 764 | 941 | |
Total | 484 | 591 | 1,095 | 1,294 | |
Financial effects of modifications | |||||
Charge-offs | $ 12 | $ 12 | $ 25 | $ 27 | |
Weighted average interest rate reduction | 2.63% | 2.62% | 2.72% | 2.54% | |
Recorded investment related to interest rate reduction | $ 138 | $ 155 | $ 257 | $ 320 | |
Second Mortgage [Member] | |||||
Primary modification type | |||||
Principal | 6 | 10 | 12 | 17 | |
Interest rate reduction | 27 | 21 | 56 | 41 | |
Other concessions | 33 | 39 | 60 | 90 | |
Total | 66 | 70 | 128 | 148 | |
Financial effects of modifications | |||||
Charge-offs | $ 11 | $ 8 | $ 21 | $ 20 | |
Weighted average interest rate reduction | 3.11% | 3.21% | 3.01% | 3.20% | |
Recorded investment related to interest rate reduction | $ 33 | $ 28 | $ 67 | $ 55 | |
Credit Card Receivable [Member] | |||||
Primary modification type | |||||
Principal | 0 | 0 | 0 | 0 | |
Interest rate reduction | 41 | 39 | 85 | 84 | |
Other concessions | 0 | 0 | 0 | 0 | |
Total | 41 | 39 | 85 | 84 | |
Financial effects of modifications | |||||
Charge-offs | $ 0 | $ 0 | $ 0 | $ 0 | |
Weighted average interest rate reduction | 11.98% | 11.33% | 11.96% | 11.31% | |
Recorded investment related to interest rate reduction | $ 41 | $ 40 | $ 85 | $ 84 | |
Automobile Loan [Member] | |||||
Primary modification type | |||||
Principal | 1 | 0 | 1 | 1 | |
Interest rate reduction | 3 | 1 | 7 | 2 | |
Other concessions | 14 | 17 | 29 | 44 | |
Total | 18 | 18 | 37 | 47 | |
Financial effects of modifications | |||||
Charge-offs | $ 8 | $ 7 | $ 16 | $ 17 | |
Weighted average interest rate reduction | 6.40% | 9.00% | 6.47% | 9.03% | |
Recorded investment related to interest rate reduction | $ 3 | $ 1 | $ 7 | $ 2 | |
Other revolving credit and installment [Member] | |||||
Primary modification type | |||||
Principal | 0 | 0 | 0 | 0 | |
Interest rate reduction | 8 | 8 | 16 | 13 | |
Other concessions | 2 | 2 | 5 | 4 | |
Total | 10 | 10 | 21 | 17 | |
Financial effects of modifications | |||||
Charge-offs | $ 0 | $ 1 | $ 1 | $ 1 | |
Weighted average interest rate reduction | 6.99% | 5.88% | 6.53% | 5.85% | |
Recorded investment related to interest rate reduction | $ 8 | $ 8 | $ 16 | $ 13 |
Loans and Allowance for Credi74
Loans and Allowance for Credit Losses, Troubled Debt Restructurings, Current Defaults (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | $ 103 | $ 152 | $ 203 | $ 257 |
Commercial Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 20 | 38 | 45 | 46 |
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 52 | 88 | 99 | 120 |
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 51 | 64 | 104 | 137 |
Real Estate Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 31 | 49 | 51 | 72 |
Construction Loans [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 1 | 1 | 3 | 2 |
First Mortgage [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 30 | 42 | 61 | 94 |
Second Mortgage [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 4 | 4 | 9 | 8 |
Credit Card Receivable [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 13 | 14 | 26 | 27 |
Automobile Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 3 | 3 | 6 | 6 |
Other revolving credit and installment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | $ 1 | $ 1 | $ 2 | $ 2 |
Loans and Allowance for Credi75
Loans and Allowance for Credit Losses, PCI Loans Outstanding (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 | Dec. 31, 2008 |
PCI loans [Abstract] | |||
Total PCI loans (unpaid principal balance) | $ 98,200 | ||
PCI Loans UPB [Member] | |||
PCI loans [Abstract] | |||
Total PCI loans (unpaid principal balance) | $ 27,391 | $ 28,278 | |
PCI Loans Carrying Value [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable, Net | 19,337 | 19,971 | |
PCI Loans Carrying Value [Member] | Construction Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable, Net | 70 | 92 | |
PCI Loans Carrying Value [Member] | Commercial Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable, Net | 1,596 | 712 | 18,700 |
PCI Loans Carrying Value [Member] | Commercial and Industrial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable, Net | 1,080 | 78 | |
PCI Loans Carrying Value [Member] | Real estate 1-4 family first mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable, Net | 17,690 | 19,190 | |
PCI Loans Carrying Value [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable, Net | 51 | 69 | |
PCI Loans Carrying Value [Member] | Real Estate Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable, Net | 446 | 542 | |
PCI Loans Carrying Value [Member] | Consumer Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable, Net | 17,741 | $ 19,259 | $ 40,100 |
GE Capital Acquisition [Member] | Commercial Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable, Net | $ 1,000 |
Loans and Allowance for Credi76
Loans and Allowance for Credit Losses, PCI, Accretable Yield (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended |
Jun. 30, 2016 | Jun. 30, 2016 | |
Change in accretable yield related to PCI loans [Abstract] | ||
Total, beginning of period | $ 15,978 | $ 16,301 |
Addition of accretable yield due to acquisitions | 70 | 69 |
Accretion into interest income | (329) | 668 |
Accretion into noninterest income due to sales | 0 | 9 |
Reclassification from nonaccretable difference for loans with improving credit-related cash flows | 24 | 58 |
Changes in expected cash flows that do not affect nonaccretable difference | (16) | (24) |
Total, end of period | $ 15,727 | $ 15,727 |
Loans and Allowance for Credi77
Loans and Allowance for Credit Losses, PCI, by Credit Quality Indicator (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Purchased Credit-Impaired Loans [Member] | Total Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | $ 1,596 | $ 712 |
Purchased Credit-Impaired Loans [Member] | Total Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,596 | 712 |
Purchased Credit-Impaired Loans [Member] | Construction Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 70 | 92 |
Purchased Credit-Impaired Loans [Member] | Commercial and Industrial Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,080 | 78 |
Purchased Credit-Impaired Loans [Member] | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 446 | 542 |
Purchased Credit-Impaired Loans [Member] | Pass [Member] | Total Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 595 | 401 |
Purchased Credit-Impaired Loans [Member] | Pass [Member] | Construction Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 56 | 68 |
Purchased Credit-Impaired Loans [Member] | Pass [Member] | Commercial and Industrial Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 273 | 35 |
Purchased Credit-Impaired Loans [Member] | Pass [Member] | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 266 | 298 |
Purchased Credit-Impaired Loans [Member] | Criticized [Member] | Total Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,001 | 311 |
Purchased Credit-Impaired Loans [Member] | Criticized [Member] | Construction Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 14 | 24 |
Purchased Credit-Impaired Loans [Member] | Criticized [Member] | Commercial and Industrial Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 807 | 43 |
Purchased Credit-Impaired Loans [Member] | Criticized [Member] | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | $ 180 | $ 244 |
Loans and Allowance for Credi78
Loans and Allowance for Credit Losses, PCI, by Delinquency Status, Commercial (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
By delinquency status: | ||
Over 90 DPD and still accruing | $ 12,385 | $ 14,380 |
Total Commercial [Member] | Purchased Credit-Impaired Loans [Member] | ||
By delinquency status: | ||
Current-29 DPD and still accruing | 1,568 | 678 |
30-89 DPD and still accruing | 8 | 2 |
Over 90 DPD and still accruing | 20 | 32 |
Financing Receivable, Net | 1,596 | 712 |
Purchased Credit-Impaired Loans [Member] | ||
By delinquency status: | ||
Over 90 DPD and still accruing | 2,400 | 2,900 |
Purchased Credit-Impaired Loans [Member] | Total Commercial [Member] | ||
By delinquency status: | ||
Financing Receivable, Net | 1,596 | 712 |
Purchased Credit-Impaired Loans [Member] | Commercial and Industrial Loans [Member] | ||
By delinquency status: | ||
Current-29 DPD and still accruing | 1,073 | 78 |
30-89 DPD and still accruing | 7 | 0 |
Over 90 DPD and still accruing | 0 | 0 |
Financing Receivable, Net | 1,080 | 78 |
Purchased Credit-Impaired Loans [Member] | Real Estate Loan [Member] | ||
By delinquency status: | ||
Current-29 DPD and still accruing | 425 | 510 |
30-89 DPD and still accruing | 1 | 2 |
Over 90 DPD and still accruing | 20 | 30 |
Financing Receivable, Net | 446 | 542 |
Purchased Credit-Impaired Loans [Member] | Commercial Real Estate Construction [Member] | ||
By delinquency status: | ||
Current-29 DPD and still accruing | 70 | 90 |
30-89 DPD and still accruing | 0 | 0 |
Over 90 DPD and still accruing | 0 | 2 |
Financing Receivable, Net | $ 70 | $ 92 |
Loans and Allowance for Credi79
Loans and Allowance for Credit Losses, PCI, by Delinquency Status, Consumer (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Residential Mortgage [Member] | Purchased Credit-Impaired Loans [Member] | ||
By delinquency status: | ||
Current-29 DPD and still accruing | $ 17,503 | $ 18,288 |
90-119 DPD and still accruing | 256 | 295 |
120-179 DPD and still accruing | 228 | 322 |
180 or more DPD and still accruing | 2,569 | 3,047 |
Total consumer PCI loans (adjusted unpaid principal balance) | 22,767 | 24,364 |
Real estate 1-4 family first mortgage [Member] | Purchased Credit-Impaired Loans [Member] | ||
By delinquency status: | ||
Total consumer PCI loans (adjusted unpaid principal balance) | 22,555 | 24,135 |
Real estate 1-4 family junior lien mortgage [Member] | Purchased Credit-Impaired Loans [Member] | ||
By delinquency status: | ||
Total consumer PCI loans (adjusted unpaid principal balance) | 212 | 229 |
Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||
By delinquency status: | ||
Current-29 DPD and still accruing | 17,315 | 18,086 |
Financing Receivables 30 to 59 Days Past Due | 1,525 | 1,686 |
Financing Receivables, 60 to 89 Days Past Due | 676 | 716 |
90-119 DPD and still accruing | 254 | 293 |
120-179 DPD and still accruing | 226 | 319 |
180 or more DPD and still accruing | 2,559 | 3,035 |
Financing Receivable, Net | 17,690 | 19,190 |
Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By delinquency status: | ||
Current-29 DPD and still accruing | 188 | 202 |
Financing Receivables 30 to 59 Days Past Due | 7 | 7 |
Financing Receivables, 60 to 89 Days Past Due | 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 | 10 | 12 |
Financing Receivable, Net | 51 | 69 |
Purchased Credit-Impaired Loans [Member] | Residential Mortgage [Member] | ||
By delinquency status: | ||
Financing Receivables 30 to 59 Days Past Due | 1,532 | 1,693 |
Financing Receivables, 60 to 89 Days Past Due | 679 | 719 |
Financing Receivable, Net | $ 17,741 | $ 19,259 |
Loans and Allowance for Credi80
Loans and Allowance for Credit Losses, PCI, by FICO Score, Consumer (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Residential Mortgage [Member] | Purchased Credit-Impaired Loans [Member] | ||
By FICO: | ||
Less than 600 | $ 5,446 | $ 5,789 |
600-639 | 3,876 | 4,792 |
640-679 | 5,386 | 6,256 |
680-719 | 4,099 | 4,326 |
720-759 | 1,894 | 1,938 |
760-799 | 958 | 923 |
800 and greater | 257 | 244 |
No FICO available | 851 | 96 |
Total consumer PCI loans (adjusted unpaid principal balance) | 22,767 | 24,364 |
Real estate 1-4 family first mortgage [Member] | Purchased Credit-Impaired Loans [Member] | ||
By FICO: | ||
Total consumer PCI loans (adjusted unpaid principal balance) | 22,555 | 24,135 |
Real estate 1-4 family junior lien mortgage [Member] | Purchased Credit-Impaired Loans [Member] | ||
By FICO: | ||
Total consumer PCI loans (adjusted unpaid principal balance) | 212 | 229 |
Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||
By FICO: | ||
Less than 600 | 5,399 | 5,737 |
600-639 | 3,846 | 4,754 |
640-679 | 5,345 | 6,208 |
680-719 | 4,057 | 4,283 |
720-759 | 1,869 | 1,914 |
760-799 | 940 | 910 |
800 and greater | 254 | 241 |
No FICO available | 845 | 88 |
Financing Receivable, Net | 17,690 | 19,190 |
Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By FICO: | ||
Less than 600 | 47 | 52 |
600-639 | 30 | 38 |
640-679 | 41 | 48 |
680-719 | 42 | 43 |
720-759 | 25 | 24 |
760-799 | 18 | 13 |
800 and greater | 3 | 3 |
No FICO available | 6 | 8 |
Financing Receivable, Net | 51 | 69 |
Purchased Credit-Impaired Loans [Member] | Residential Mortgage [Member] | ||
By FICO: | ||
Financing Receivable, Net | $ 17,741 | $ 19,259 |
Loans and Allowance for Credi81
Loans and Allowance for Credit Losses, PCI, by Loan to Value Ratio, Consumer (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Purchased Credit-Impaired Loans [Member] | Residential Mortgage [Member] | ||
By LTV/CLTV: | ||
0-60% | $ 6,785 | $ 5,469 |
60.01-80% | 9,953 | 10,101 |
80.01-100% | 4,539 | 6,379 |
100.01-120% | 1,133 | 1,815 |
Greater than 120% | 350 | 594 |
No LTV/CLTV available | 7 | 6 |
Total consumer PCI loans (adjusted unpaid principal balance) | 22,767 | 24,364 |
Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||
By LTV/CLTV: | ||
Total consumer PCI loans (adjusted unpaid principal balance) | 22,555 | 24,135 |
Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By LTV/CLTV: | ||
Total consumer PCI loans (adjusted unpaid principal balance) | 212 | 229 |
Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||
By LTV/CLTV: | ||
0-60% | 6,747 | 5,437 |
60.01-80% | 9,878 | 10,036 |
80.01-100% | 4,475 | 6,299 |
100.01-120% | 1,109 | 1,779 |
Greater than 120% | 340 | 579 |
No LTV/CLTV available | 6 | 5 |
Financing Receivable, Net | 17,690 | 19,190 |
Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By LTV/CLTV: | ||
0-60% | 38 | 32 |
60.01-80% | 75 | 65 |
80.01-100% | 64 | 80 |
100.01-120% | 24 | 36 |
Greater than 120% | 10 | 15 |
No LTV/CLTV available | 1 | 1 |
Financing Receivable, Net | 51 | 69 |
Purchased Credit-Impaired Loans [Member] | Residential Mortgage [Member] | ||
By LTV/CLTV: | ||
Financing Receivable, Net | $ 17,741 | $ 19,259 |
Other Assets (Details)
Other Assets (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | ||
Components of Other Assets [Line Items] | ||||||
Cost method investments | $ 7,725 | $ 7,725 | $ 7,035 | |||
Equity method investments | 14,328 | 14,328 | 13,647 | |||
Other assets, carried at fair value | 3,046 | 3,046 | 3,065 | |||
Total nonmarketable equity investments | 25,099 | 25,099 | 23,747 | |||
Corporate/bank-owned life insurance | 19,281 | 19,281 | 19,199 | |||
Accounts receivable (3) | 35,056 | 35,056 | 26,251 | |||
Interest receivable | 5,241 | 5,241 | 5,065 | |||
Customer relationship and other amortized intangibles | 4,695 | 4,695 | 4,461 | |||
Non-residential real estate | 461 | 461 | 565 | |||
Operating lease assets | 10,285 | 10,285 | 3,782 | |||
Due from customers on acceptances | 222 | 222 | 273 | |||
Other | 23,501 | 23,501 | 17,887 | |||
Other assets | [1] | 123,144 | 123,144 | 100,782 | ||
Other Assets Textual [Abstract] | ||||||
Income (loss) from affordable housing projects, equity method investments | 199 | $ 178 | 401 | $ 356 | ||
Low income housing tax credit (LIHTC) investment total tax benefits | 304 | 274 | 611 | 550 | ||
Low income housing tax credit (LIHTC) investment tax credits | 230 | 207 | 460 | 416 | ||
Low income housing tax credit (LIHTC) investment liability for unfunded commitments | 3,300 | $ 3,300 | 3,000 | |||
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 | 129 | 479 | $ 314 | 830 | ||
All other | (135) | (278) | (321) | (426) | ||
Total | (6) | $ 201 | (7) | $ 404 | ||
Government insured/guaranteed [Member] | ||||||
Components of Other Assets [Line Items] | ||||||
Residential real estate | 321 | 321 | 446 | |||
Non-government insured/guaranteed [Member] | ||||||
Components of Other Assets [Line Items] | ||||||
Residential real estate | 335 | 335 | 414 | |||
Core deposit intangibles [Member] | ||||||
Components of Other Assets [Line Items] | ||||||
Customer relationship and other amortized intangibles | 2,079 | 2,079 | 2,539 | |||
Customer relationship and other amortized intangibles [Member] | ||||||
Components of Other Assets [Line Items] | ||||||
Customer relationship and other amortized intangibles | 1,263 | 1,263 | 614 | |||
Auction rate securities [Member] | ||||||
Components of Other Assets [Line Items] | ||||||
Cost method investments | 558 | 558 | 595 | |||
Federal bank stock [Member] | ||||||
Components of Other Assets [Line Items] | ||||||
Cost method investments | 5,686 | 5,686 | 4,814 | |||
Low Income Housing Tax Credit Equity Method Investments [Member] | ||||||
Components of Other Assets [Line Items] | ||||||
Equity method investments | 8,949 | 8,949 | 8,314 | |||
Private equity and other [Member] | ||||||
Components of Other Assets [Line Items] | ||||||
Cost method investments | 1,481 | 1,481 | 1,626 | |||
Equity method investments | 3,521 | 3,521 | 3,300 | |||
Tax Advantaged Renewable Energy [Member] | ||||||
Components of Other Assets [Line Items] | ||||||
Equity method investments | 1,538 | 1,538 | 1,625 | |||
New Market Tax Credit and Other [Member] | ||||||
Components of Other Assets [Line Items] | ||||||
Equity method investments | $ 320 | $ 320 | $ 408 | |||
[1] | Parenthetical amounts represent assets and liabilities for which we have elected the fair value option. |
Securitizations and Variable 83
Securitizations and Variable Interest Entities, Balance Sheet Transactions with VIEs (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | |
Variable Interest Entity Consolidated Carrying Amount Assets and Liabilities | |||||
Cash | $ 20,407 | $ 19,111 | $ 19,687 | $ 19,571 | |
Federal funds sold, securities purchased under resale agreements and other short-term investments | 295,521 | 270,130 | |||
Trading assets | 80,093 | 77,202 | |||
Investment securities | 357,083 | 347,925 | |||
Loans | [1] | 957,157 | 916,559 | ||
Mortgage servicing rights | 10,396 | 12,415 | |||
Other assets | [1] | 123,144 | 100,782 | ||
Total assets | [2] | 1,889,235 | 1,787,632 | ||
Short-term borrowings | 120,258 | 97,528 | |||
Accrued expenses and other liabilities | 76,916 | 73,365 | |||
Long-term debt | 243,927 | 199,536 | |||
Total liabilities | [3] | 1,686,574 | 1,593,741 | ||
Noncontrolling interests | 916 | 893 | |||
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 | |||
Federal funds sold, securities purchased under resale agreements and other short-term investments | 0 | 0 | |||
Trading assets | 2,540 | 1,340 | |||
Investment securities | 10,205 | 12,388 | |||
Loans | 7,707 | 9,661 | |||
Mortgage servicing rights | 10,729 | 12,518 | |||
Other assets | 9,538 | 8,938 | |||
Total assets | 40,719 | 44,845 | |||
Short-term borrowings | 0 | 0 | |||
Accrued expenses and other liabilities | 450 | 629 | |||
Long-term debt | 3,291 | 3,021 | |||
Total liabilities | 3,741 | 3,650 | |||
Noncontrolling interests | 0 | 0 | |||
Net assets | 36,978 | 41,195 | |||
VIEs that we consolidate [Member] | |||||
Variable Interest Entity Consolidated Carrying Amount Assets and Liabilities | |||||
Cash | 172 | 157 | |||
Federal funds sold, securities purchased under resale agreements and other short-term investments | 135 | 0 | |||
Trading assets | 101 | 1 | |||
Investment securities | 303 | 425 | |||
Loans | 12,868 | 4,811 | |||
Mortgage servicing rights | 0 | 0 | |||
Other assets | 447 | 242 | |||
Total assets | 14,026 | 5,636 | |||
Short-term borrowings | 0 | 0 | |||
Accrued expenses and other liabilities | 85 | 57 | |||
Long-term debt | 4,043 | 1,301 | |||
Total liabilities | 4,128 | 1,358 | |||
Noncontrolling interests | 149 | 93 | |||
Net assets | 9,749 | 4,185 | |||
Transfers that we account for as secured borrowings [Member] | |||||
Variable Interest Entity Consolidated Carrying Amount Assets and Liabilities | |||||
Cash | 0 | 0 | |||
Federal funds sold, securities purchased under resale agreements and other short-term investments | 0 | 0 | |||
Trading assets | 203 | 203 | |||
Investment securities | 1,185 | 2,171 | |||
Loans | 4,400 | 4,887 | |||
Mortgage servicing rights | 0 | 0 | |||
Other assets | 15 | 26 | |||
Total assets | 5,803 | 7,287 | |||
Short-term borrowings | 1,199 | 1,799 | |||
Accrued expenses and other liabilities | 2 | 1 | |||
Long-term debt | 4,351 | 4,844 | |||
Total liabilities | 5,552 | 6,644 | |||
Noncontrolling interests | 0 | 0 | |||
Net assets | 251 | 643 | |||
Total VIE [Member] | |||||
Variable Interest Entity Consolidated Carrying Amount Assets and Liabilities | |||||
Cash | 172 | 157 | |||
Federal funds sold, securities purchased under resale agreements and other short-term investments | 135 | 0 | |||
Trading assets | 2,844 | 1,544 | |||
Investment securities | 11,693 | 14,984 | |||
Loans | 24,975 | 19,359 | |||
Mortgage servicing rights | 10,729 | 12,518 | |||
Other assets | 10,000 | 9,206 | |||
Total assets | 60,548 | 57,768 | |||
Short-term borrowings | 1,199 | 1,799 | |||
Accrued expenses and other liabilities | 537 | 687 | |||
Long-term debt | 11,685 | 9,166 | |||
Total liabilities | 13,421 | 11,652 | |||
Noncontrolling interests | 149 | 93 | |||
Net assets | $ 46,978 | $ 46,023 | |||
[1] | Parenthetical amounts represent assets and liabilities for which we have elected the fair value option. | ||||
[2] | Our consolidated assets at June 30, 2016, and December 31, 2015, 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, $172 million and $157 million; Federal funds sold, securities purchased under resale agreements and other short-term investments, $135 million and $0 million; Trading assets, $101 million and $1 million; Investment securities, $303 million and $425 million; Net loans, $12.9 billion and $4.8 billion; Other assets, $447 million and $242 million; and Total assets, $14.0 billion and $5.6 billion, respectively. | ||||
[3] | Our consolidated liabilities at June 30, 2016, and December 31, 2015, include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Accrued expenses and other liabilities, $85 million and $57 million; Long-term debt, $4.0 billion and $1.3 billion; and Total liabilities, $4.1 billion and $1.4 billion, respectively. |
Securitizations and Variable 84
Securitizations and Variable Interest Entities, Unconsolidated VIEs (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Variable Interest Entity [Line Items] | |||||
Total VIE assets | $ 1,432,966 | $ 1,432,966 | $ 1,469,435 | ||
Securitizations and Variable Interest Entities Textual [Abstract] | |||||
Carrying value of delinquent loans eligible for repurchase | $ 1,000 | $ 1,000 | $ 1,300 | ||
Percentage of underlying collateral rated as investment grade | 100.00% | 100.00% | 70.00% | ||
Principal amount that would be payable to securitization vehicles | $ 1,000 | $ 1,000 | $ 1,300 | ||
Conforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Total VIE assets | 1,181,463 | 1,181,463 | 1,199,225 | ||
Other/Nonconforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Total VIE assets | 22,132 | 22,132 | 24,809 | ||
Commercial Mortgage Backed Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Total VIE assets | 173,135 | 173,135 | 184,959 | ||
Collateralized Debt Obligations Debt Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Total VIE assets | 2,611 | 2,611 | 3,247 | ||
Collateralized Debt Obligations Loans [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Total VIE assets | 1,589 | 1,589 | 3,314 | ||
Asset-based finance structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Total VIE assets | 11,482 | 11,482 | 13,063 | ||
Tax Credit Structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Total VIE assets | 27,157 | 27,157 | 26,099 | ||
Collateralized Loan Obligations [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Total VIE assets | 600 | 600 | 898 | ||
Investment Funds [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Total VIE assets | 209 | 209 | 1,131 | ||
Other securitizations and transactions [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Total VIE assets | 12,588 | 12,588 | 12,690 | ||
VIEs that we do not consolidate [Member] | Waived fees [Member] | |||||
Securitizations and Variable Interest Entities Textual [Abstract] | |||||
Financial support provided to a nonconsolidated legal entity | 26 | $ 53 | 56 | $ 109 | |
Debt and equity interests [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 29,608 | 29,608 | 32,037 | ||
Maximum exposure to loss | 29,608 | 29,608 | 32,037 | ||
Debt and equity interests [Member] | Conforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 3,431 | 3,431 | 2,458 | ||
Maximum exposure to loss | 3,431 | 3,431 | 2,458 | ||
Debt and equity interests [Member] | Other/Nonconforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 1,125 | 1,125 | 1,228 | ||
Maximum exposure to loss | 1,125 | 1,125 | 1,228 | ||
Debt and equity interests [Member] | Commercial Mortgage Backed Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 5,185 | 5,185 | 6,323 | ||
Maximum exposure to loss | 5,185 | 5,185 | 6,323 | ||
Debt and equity interests [Member] | Collateralized Debt Obligations Debt Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Debt and equity interests [Member] | Collateralized Debt Obligations Loans [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 1,551 | 1,551 | 3,207 | ||
Maximum exposure to loss | 1,551 | 1,551 | 3,207 | ||
Debt and equity interests [Member] | Asset-based finance structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 8,001 | 8,001 | 8,956 | ||
Maximum exposure to loss | 8,001 | 8,001 | 8,956 | ||
Debt and equity interests [Member] | Tax Credit Structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 9,743 | 9,743 | 9,094 | ||
Maximum exposure to loss | 9,743 | 9,743 | 9,094 | ||
Debt and equity interests [Member] | Collateralized Loan Obligations [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 57 | 57 | 213 | ||
Maximum exposure to loss | 57 | 57 | 213 | ||
Debt and equity interests [Member] | Investment Funds [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 49 | 49 | 47 | ||
Maximum exposure to loss | 49 | 49 | 47 | ||
Debt and equity interests [Member] | Other securitizations and transactions [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 466 | 466 | 511 | ||
Maximum exposure to loss | 466 | 466 | 511 | ||
Servicing assets [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 10,729 | 10,729 | 12,518 | ||
Maximum exposure to loss | 10,729 | 10,729 | 12,518 | ||
Servicing assets [Member] | Conforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 9,829 | 9,829 | 11,665 | ||
Maximum exposure to loss | 9,829 | 9,829 | 11,665 | ||
Servicing assets [Member] | Other/Nonconforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 115 | 115 | 141 | ||
Maximum exposure to loss | 115 | 115 | 141 | ||
Servicing assets [Member] | Commercial Mortgage Backed Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 785 | 785 | 712 | ||
Maximum exposure to loss | 785 | 785 | 712 | ||
Servicing assets [Member] | Collateralized Debt Obligations Debt Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Servicing assets [Member] | Collateralized Debt Obligations Loans [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Servicing assets [Member] | Asset-based finance structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Servicing assets [Member] | Tax Credit Structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Servicing assets [Member] | Collateralized Loan Obligations [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Servicing assets [Member] | Investment Funds [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Servicing assets [Member] | Other securitizations and transactions [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Derivative [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 301 | 301 | 157 | ||
Maximum exposure to loss | 501 | 501 | 460 | ||
Derivative [Member] | Conforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Derivative [Member] | Other/Nonconforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Derivative [Member] | Commercial Mortgage Backed Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 324 | 324 | 203 | ||
Maximum exposure to loss | 324 | 324 | 203 | ||
Derivative [Member] | Collateralized Debt Obligations Debt Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 58 | 58 | 64 | ||
Maximum exposure to loss | 58 | 58 | 64 | ||
Derivative [Member] | Collateralized Debt Obligations Loans [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Derivative [Member] | Asset-based finance structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | (66) | ||
Maximum exposure to loss | 0 | 0 | 76 | ||
Derivative [Member] | Tax Credit Structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Derivative [Member] | Collateralized Loan Obligations [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Derivative [Member] | Investment Funds [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Derivative [Member] | Other securitizations and transactions [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | (81) | (81) | (44) | ||
Maximum exposure to loss | 119 | 119 | 117 | ||
Other commitments and guarantees [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | (3,660) | (3,660) | (3,517) | ||
Maximum exposure to loss | 11,234 | 11,234 | 10,122 | ||
Other commitments and guarantees [Member] | Conforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | (268) | (268) | (386) | ||
Maximum exposure to loss | 1,074 | 1,074 | 1,452 | ||
Other commitments and guarantees [Member] | Other/Nonconforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | (2) | (2) | (1) | ||
Maximum exposure to loss | 2 | 2 | 1 | ||
Other commitments and guarantees [Member] | Commercial Mortgage Backed Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | (31) | (31) | (26) | ||
Maximum exposure to loss | 8,699 | 8,699 | 7,152 | ||
Other commitments and guarantees [Member] | Collateralized Debt Obligations Debt Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | (39) | (39) | (57) | ||
Maximum exposure to loss | 39 | 39 | 57 | ||
Other commitments and guarantees [Member] | Collateralized Debt Obligations Loans [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Other commitments and guarantees [Member] | Asset-based finance structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 444 | 444 | 444 | ||
Other commitments and guarantees [Member] | Tax Credit Structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | (3,320) | (3,320) | (3,047) | ||
Maximum exposure to loss | 976 | 976 | 866 | ||
Other commitments and guarantees [Member] | Collateralized Loan Obligations [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Other commitments and guarantees [Member] | Investment Funds [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Other commitments and guarantees [Member] | Other securitizations and transactions [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 150 | ||
Total exposure [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum exposure to loss | 52,072 | 52,072 | 55,137 | ||
Total exposure [Member] | Conforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum exposure to loss | 14,334 | 14,334 | 15,575 | ||
Total exposure [Member] | Other/Nonconforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum exposure to loss | 1,242 | 1,242 | 1,370 | ||
Total exposure [Member] | Commercial Mortgage Backed Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum exposure to loss | 14,993 | 14,993 | 14,390 | ||
Total exposure [Member] | Collateralized Debt Obligations Debt Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum exposure to loss | 97 | 97 | 121 | ||
Total exposure [Member] | Collateralized Debt Obligations Loans [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum exposure to loss | 1,551 | 1,551 | 3,207 | ||
Total exposure [Member] | Asset-based finance structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum exposure to loss | 8,445 | 8,445 | 9,476 | ||
Total exposure [Member] | Tax Credit Structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum exposure to loss | 10,719 | 10,719 | 9,960 | ||
Total exposure [Member] | Collateralized Loan Obligations [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum exposure to loss | 57 | 57 | 213 | ||
Total exposure [Member] | Investment Funds [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum exposure to loss | 49 | 49 | 47 | ||
Total exposure [Member] | Other securitizations and transactions [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum exposure to loss | 585 | 585 | 778 | ||
Net assets [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 36,978 | 36,978 | 41,195 | ||
Net assets [Member] | Conforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 12,992 | 12,992 | 13,737 | ||
Net assets [Member] | Other/Nonconforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 1,238 | 1,238 | 1,368 | ||
Net assets [Member] | Commercial Mortgage Backed Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 6,263 | 6,263 | 7,212 | ||
Net assets [Member] | Collateralized Debt Obligations Debt Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 19 | 19 | 7 | ||
Net assets [Member] | Collateralized Debt Obligations Loans [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 1,551 | 1,551 | 3,207 | ||
Net assets [Member] | Asset-based finance structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 8,001 | 8,001 | 8,890 | ||
Net assets [Member] | Tax Credit Structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 6,423 | 6,423 | 6,047 | ||
Net assets [Member] | Collateralized Loan Obligations [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 57 | 57 | 213 | ||
Net assets [Member] | Investment Funds [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 49 | 49 | 47 | ||
Net assets [Member] | Other securitizations and transactions [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 385 | 385 | 467 | ||
Equity Interests [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 9,500 | 9,500 | 8,900 | ||
Other Investments [Member] | |||||
Securitizations and Variable Interest Entities Textual [Abstract] | |||||
Securities Available for Sale Portfolio of ARS issued by VIEs | 465 | 465 | 502 | ||
Trust Preferred Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | (2,300) | (2,300) | (2,200) | ||
Trust Preferred Securities [Member] | Preferred Stock [Member] | |||||
Securitizations and Variable Interest Entities Textual [Abstract] | |||||
Carrying value - equity | $ 2,500 | $ 2,500 | $ 2,500 |
Securitizations and Variable 85
Securitizations and Variable Interest Entities, Cash Flows From Sales and Securitization Activity (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Securitizations and Variable Interest Entities Textual [Abstract] | ||||
Amount paid to repurchase loans from securitization vehicles | $ 2,000 | $ 2,700 | $ 4,900 | $ 6,000 |
Net gains from sale of assets securitizations | 100 | 205 | 295 | 316 |
Residential Mortgage [Member] | ||||
Securitizations and Variable Interest Entities Textual [Abstract] | ||||
Amount transferred related to mortgages to unconsolidated VIE | 65,000 | 53,400 | 102,300 | 92,900 |
Mortgage loans [Member] | ||||
Cash Flow Securitizations [Abstract] | ||||
Proceeds from securitizations and whole loan sales | 66,455 | 58,984 | 111,471 | 100,893 |
Fees from servicing rights retained | 864 | 923 | 1,745 | 1,858 |
Cash flows from other interests held | 627 | 348 | 1,034 | 614 |
Servicing advances, net of repayments | (39) | (154) | (107) | (254) |
Other financial assets [Member] | ||||
Cash Flow Securitizations [Abstract] | ||||
Proceeds from securitizations and whole loan sales | 83 | 160 | 133 | 181 |
Fees from servicing rights retained | 0 | 2 | 0 | 4 |
Cash flows from other interests held | 0 | 11 | 1 | 23 |
Servicing advances, net of repayments | 0 | 0 | 0 | 0 |
Commercial Loan [Member] | ||||
Securitizations and Variable Interest Entities Textual [Abstract] | ||||
Net gains from sale of assets securitizations | 58 | 123 | 193 | 200 |
Amount transferred related to mortgages to unconsolidated VIE | 1,800 | 6,300 | 9,900 | 9,500 |
Non-agency securitizations and whole loan transactions [Member] | Mortgage loans [Member] | ||||
Cash Flow Securitizations [Abstract] | ||||
Repurchases of assets/loss reimbursements | 15 | 1 | 18 | 7 |
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 | 35 | 76 | 82 | 138 |
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 | 764 | 736 | ||
Amount of liability for repurchase reserves at fair value | 15 | 23 | ||
Fair Value, Inputs, Level 3 [Member] | Commercial Loan [Member] | ||||
Securitizations and Variable Interest Entities Textual [Abstract] | ||||
Amount of servicing asset at fair value | 135 | 97 | ||
Fair Value, Inputs, Level 2 [Member] | Residential Mortgage [Member] | ||||
Securitizations and Variable Interest Entities Textual [Abstract] | ||||
Securities, at fair value | 3,200 | 800 | ||
Fair Value, Inputs, Level 2 [Member] | Commercial Loan [Member] | ||||
Securitizations and Variable Interest Entities Textual [Abstract] | ||||
Securities, at fair value | $ 86 | $ 179 |
Securitizations and Variable 86
Securitizations and Variable Interest Entities, Residential Mortgage Servicing Rights (Details) - Residential mortgage servicing rights [Member] - $ / loan | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Fair Value Assumption, Date of Securitization or Asset-backed Financing Arrangement, Transferor's Continuing Involvement, Servicing Assets or Liabilities [Line Items] | ||||
Prepayment speed | 12.10% | 11.90% | 12.50% | 12.40% |
Discount rate | 6.70% | 7.60% | 6.80% | 7.60% |
Cost to service ($ per loan) | 141 | 237 | 143 | 237 |
Securitizations and Variable 87
Securitizations and Variable Interest Entities, Retained Interests from Unconsolidated VIEs (Details) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016USD ($)$ / loan | Dec. 31, 2015USD ($)$ / loan | |
Decrease in fair value from: | ||
200 basis point increase | $ 75 | $ 82 |
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 | $ 10,396 | $ 12,415 |
Expected weighted-average life (in years) | 5 years 2 months 12 days | 6 years |
Key economic assumptions: | ||
Prepayment speed assumption | 13.60% | 11.40% |
Decrease in fair value from: | ||
10% adverse change | $ 595 | $ 616 |
25% adverse change | $ 1,401 | $ 1,463 |
Discount rate assumption | 6.20% | 7.30% |
Decrease in fair value from: | ||
100 basis point increase | $ 490 | $ 605 |
200 basis point increase | $ 938 | $ 1,154 |
Cost to service assumption ($ per loan) | $ / loan | 162 | 168 |
Decrease in fair value from: | ||
10% adverse change | $ 515 | $ 567 |
25% adverse change | 1,289 | 1,417 |
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 | $ 33 | $ 34 |
Expected weighted-average life (in years) | 3 years 7 months 6 days | 3 years 7 months 6 days |
Key economic assumptions: | ||
Prepayment speed assumption | 19.10% | 19.00% |
Decrease in fair value from: | ||
10% adverse change | $ 1 | $ 1 |
25% adverse change | $ 3 | $ 3 |
Discount rate assumption | 13.10% | 13.80% |
Decrease in fair value from: | ||
100 basis point increase | $ 1 | $ 1 |
200 basis point increase | 1 | 1 |
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 | $ 303 | $ 342 |
Expected weighted-average life (in years) | 1 year 2 months 12 days | 1 year 10 months 24 days |
Decrease in fair value from: | ||
Discount rate assumption | 7.00% | 5.30% |
Decrease in fair value from: | ||
100 basis point increase | $ 4 | $ 6 |
200 basis point increase | $ 7 | $ 11 |
Decrease in fair value from: | ||
Credit loss assumption | 2.90% | 2.80% |
Decrease in fair value from: | ||
10% higher losses | $ 2 | $ 0 |
25% higher losses | 5 | 2 |
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 | $ 1 |
Expected weighted-average life (in years) | 9 years 1 month 6 days | 11 years 7 months 6 days |
Key economic assumptions: | ||
Prepayment speed assumption | 15.00% | 15.10% |
Decrease in fair value from: | ||
10% adverse change | $ 0 | $ 0 |
25% adverse change | $ 0 | $ 0 |
Discount rate assumption | 9.80% | 10.50% |
Decrease in fair value from: | ||
100 basis point increase | $ 0 | $ 0 |
200 basis point increase | $ 0 | $ 0 |
Decrease in fair value from: | ||
Credit loss assumption | 2.60% | 1.10% |
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 | $ 698 | $ 673 |
Expected weighted-average life (in years) | 5 years 10 months 24 days | 5 years 9 months 27 days |
Decrease in fair value from: | ||
Discount rate assumption | 2.50% | 3.00% |
Decrease in fair value from: | ||
100 basis point increase | $ 35 | $ 33 |
200 basis point increase | $ 68 | $ 63 |
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 | $ 1,700 |
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 | $ 127 | $ 150 |
VIEs that we do not consolidate [Member] | Loans [Member] | ||
Securitizations and Variable Interest Entities Textual [Abstract] | ||
Loans receivable | $ 4,500 | $ 4,900 |
Securitizations and Variable 88
Securitizations and Variable Interest Entities, Off-Balance Sheet Loans Sold or Securitized (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | $ 1,303,045 | $ 1,346,477 | |
Delinquent loans and foreclosed assets | 20,916 | 27,574 | |
Net charge-offs | 690 | $ 624 | |
FNMA, FHLMC and GNMA [Member] | |||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | 1,200,000 | 1,200,000 | |
Delinquent loans and foreclosed assets | 10,700 | 12,100 | |
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Foreclosed assets | 1,500 | 1,700 | |
Total Commercial [Member] | |||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | 110,135 | 110,815 | |
Delinquent loans and foreclosed assets | 2,622 | 6,670 | |
Net charge-offs | 156 | 196 | |
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Foreclosed assets | 1,900 | 5,000 | |
Commercial real estate mortgage [Member] | |||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | 110,135 | 110,815 | |
Delinquent loans and foreclosed assets | 2,622 | 6,670 | |
Net charge-offs | 156 | 196 | |
Total Consumer [Member] | |||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | 1,192,910 | 1,235,662 | |
Delinquent loans and foreclosed assets | 18,294 | 20,904 | |
Net charge-offs | 534 | 428 | |
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Foreclosed assets | 2,100 | 2,200 | |
Real estate 1-4 family first mortgage [Member] | |||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | 1,192,910 | 1,235,662 | |
Delinquent loans and foreclosed assets | 18,294 | $ 20,904 | |
Net charge-offs | $ 534 | $ 428 |
Securitizations and Variable 89
Securitizations and Variable Interest Entities, Transactions with Consolidated VIEs and Secured Borrowings (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 | |
Variable Interest Entity [Line Items] | |||
Assets | [1] | $ 1,889,235 | $ 1,787,632 |
Liabilities | [2] | (1,686,574) | (1,593,741) |
Noncontrolling interests | (916) | (893) | |
Total secured borrowings [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 6,110 | 7,556 | |
Total secured borrowings [Member] | Municipal tender option bond securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 1,846 | 2,818 | |
Total secured borrowings [Member] | Residential mortgage securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 4,264 | 4,738 | |
Consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 14,457 | 6,160 | |
Assets | 14,026 | 5,636 | |
Liabilities | (4,128) | (1,358) | |
Noncontrolling interests | (149) | (93) | |
Net assets | 9,749 | 4,185 | |
Consolidated VIEs [Member] | Commercial real estate loans [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 1,207 | 1,185 | |
Consolidated VIEs [Member] | Commercial and Industrial Loans and Leases [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 8,841 | ||
Consolidated VIEs [Member] | Nonconforming residential mortgage loan securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 3,723 | 4,134 | |
Consolidated VIEs [Member] | Structured asset finance [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 29 | 54 | |
Consolidated VIEs [Member] | Investment funds [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 492 | 482 | |
Consolidated VIEs [Member] | Other securitizations and transactions [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 165 | 305 | |
Total secured borrowings and consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 20,567 | 13,716 | |
Revolving master trust entity [Member] | Commercial and Industrial Loans and Leases [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 7,200 | ||
Liabilities | (2,700) | ||
Securitized term trust and other entities [Member] | Commercial and Industrial Loans and Leases [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 1,500 | ||
Liabilities | (239) | ||
Carrying value [Member] | Total secured borrowings [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 5,803 | 7,287 | |
Liabilities | (5,552) | (6,644) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 251 | 643 | |
Carrying value [Member] | Total secured borrowings [Member] | Municipal tender option bond securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 1,403 | 2,400 | |
Liabilities | (1,200) | (1,800) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 203 | 600 | |
Carrying value [Member] | Total secured borrowings [Member] | Residential mortgage securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 4,400 | 4,887 | |
Liabilities | (4,352) | (4,844) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 48 | 43 | |
Carrying value [Member] | Consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 14,026 | 5,636 | |
Liabilities | (4,128) | (1,358) | |
Noncontrolling interests | (149) | (93) | |
Net assets | 9,749 | 4,185 | |
Carrying value [Member] | Consolidated VIEs [Member] | Commercial real estate loans [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 1,207 | 1,185 | |
Liabilities | 0 | 0 | |
Noncontrolling interests | 0 | 0 | |
Net assets | 1,207 | 1,185 | |
Carrying value [Member] | Consolidated VIEs [Member] | Commercial and Industrial Loans and Leases [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 8,841 | ||
Liabilities | (2,985) | ||
Noncontrolling interests | (12) | ||
Net assets | 5,844 | ||
Carrying value [Member] | Consolidated VIEs [Member] | Nonconforming residential mortgage loan securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 3,318 | 3,654 | |
Liabilities | (1,122) | (1,239) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 2,196 | 2,415 | |
Carrying value [Member] | Consolidated VIEs [Member] | Structured asset finance [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 16 | 20 | |
Liabilities | (12) | (18) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 4 | 2 | |
Carrying value [Member] | Consolidated VIEs [Member] | Investment funds [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 492 | 482 | |
Liabilities | (8) | 0 | |
Noncontrolling interests | (67) | 0 | |
Net assets | 417 | 482 | |
Carrying value [Member] | Consolidated VIEs [Member] | Other securitizations and transactions [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 152 | 295 | |
Liabilities | (1) | (101) | |
Noncontrolling interests | (70) | (93) | |
Net assets | 81 | 101 | |
Carrying value [Member] | Total secured borrowings and consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 19,829 | 12,923 | |
Liabilities | (9,680) | (8,002) | |
Noncontrolling interests | (149) | (93) | |
Net assets | 10,000 | 4,828 | |
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 | 481 | 529 | |
Available-for-sale securities [Member] | |||
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Assets pledged to collateralize the borrowings of variable interest entity | $ 5,800 | $ 5,900 | |
[1] | Our consolidated assets at June 30, 2016, and December 31, 2015, 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, $172 million and $157 million; Federal funds sold, securities purchased under resale agreements and other short-term investments, $135 million and $0 million; Trading assets, $101 million and $1 million; Investment securities, $303 million and $425 million; Net loans, $12.9 billion and $4.8 billion; Other assets, $447 million and $242 million; and Total assets, $14.0 billion and $5.6 billion, respectively. | ||
[2] | Our consolidated liabilities at June 30, 2016, and December 31, 2015, include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Accrued expenses and other liabilities, $85 million and $57 million; Long-term debt, $4.0 billion and $1.3 billion; and Total liabilities, $4.1 billion and $1.4 billion, respectively. |
Mortgage Banking Activities, An
Mortgage Banking Activities, Analysis of Changes in Fair Value MSRs (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Changes in MSRs measured at fair value | ||||
Fair value, beginning of period | $ 12,415 | |||
Changes in fair value: | ||||
Net changes in valuation model inputs or assumptions | $ (824) | $ 1,053 | (1,781) | $ 280 |
Other changes in fair value | (568) | (554) | (1,059) | (1,087) |
Total changes in fair value | (1,392) | 499 | (2,840) | (807) |
Fair value, end of period | 10,396 | 10,396 | ||
Carried at fair value [Member] | ||||
Changes in MSRs measured at fair value | ||||
Fair value, beginning of period | 11,333 | 11,739 | 12,415 | 12,738 |
Servicing from securitizations or asset transfers (1) | 477 | 428 | 843 | 736 |
Sales and other (2) | (22) | (5) | (22) | (6) |
Net additions | 455 | 423 | 821 | 730 |
Changes in fair value: | ||||
Net changes in valuation model inputs or assumptions | (824) | 1,053 | (1,781) | 280 |
Other changes in fair value | (568) | (554) | (1,059) | (1,087) |
Total changes in fair value | (1,392) | 499 | (2,840) | (807) |
Fair value, end of period | 10,396 | 12,661 | 10,396 | 12,661 |
Carried at fair value [Member] | Mortgage interest rates [Member] | ||||
Changes in fair value: | ||||
Net changes in valuation model inputs or assumptions | (779) | 1,117 | (1,863) | 545 |
Carried at fair value [Member] | Servicing and foreclosure costs [Member] | ||||
Changes in fair value: | ||||
Net changes in valuation model inputs or assumptions | (4) | (10) | 23 | (28) |
Carried at fair value [Member] | Prepayment estimates and other [Member] | ||||
Changes in fair value: | ||||
Net changes in valuation model inputs or assumptions | $ (41) | $ (54) | $ 59 | $ (237) |
Mortgage Banking Activities, 91
Mortgage Banking Activities, Analysis of Changes in Amortized MSRs (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Changes in amortized MSRs | ||||
Amortization | $ (68) | $ (65) | $ (135) | $ (127) |
Amortized [Member] | ||||
Changes in amortized MSRs | ||||
Balance, beginning of period | 1,359 | 1,252 | 1,308 | 1,242 |
Purchases | 24 | 29 | 45 | 51 |
Servicing from securitizations or asset transfers | 38 | 46 | 135 | 96 |
Amortization | (68) | (65) | (135) | (127) |
Balance, end of period | 1,353 | 1,262 | 1,353 | 1,262 |
Fair value of amortized MSRs: | ||||
Beginning of period | 1,725 | 1,522 | 1,680 | 1,637 |
End of period | 1,620 | 1,692 | 1,620 | 1,692 |
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 (Details) - USD ($) $ in Billions | Jun. 30, 2016 | Dec. 31, 2015 |
Components of Managed Servicing Portfolio [Abstract] | ||
Serviced for others | $ 1,728 | $ 1,778 |
Total managed servicing portfolio | $ 2,217 | $ 2,256 |
Ratio of MSRs to related loans serviced for others | 0.68% | 0.77% |
Residential mortgage servicing rights [Member] | ||
Components of Managed Servicing Portfolio [Abstract] | ||
Serviced for others | $ 1,250 | $ 1,300 |
Owned loans serviced | 349 | 345 |
Subserviced for others | 4 | 4 |
Total managed servicing portfolio | 1,603 | 1,649 |
Commercial mortgage servicing [Member] | ||
Components of Managed Servicing Portfolio [Abstract] | ||
Serviced for others | 478 | 478 |
Owned loans serviced | 128 | 122 |
Subserviced for others | 8 | 7 |
Total managed servicing portfolio | $ 614 | $ 607 |
Mortgage Banking Activities, Mo
Mortgage Banking Activities, Mortgage Banking Noninterest Income (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Mortgage Banking Activities [Abstract] | ||||
Contractually specified servicing fees | $ 949 | $ 1,008 | $ 1,903 | $ 2,028 |
Late charges | 42 | 46 | 90 | 99 |
Ancillary fees | 54 | 81 | 115 | 152 |
Unreimbursed direct servicing costs | (203) | (109) | (356) | (243) |
Net servicing fees | 842 | 1,026 | 1,752 | 2,036 |
Changes in fair value of MSRs carried at fair value: | ||||
Net changes in valuation model inputs or assumptions | (824) | 1,053 | (1,781) | 280 |
Other changes in fair value | (568) | (554) | (1,059) | (1,087) |
Total changes in fair value | (1,392) | 499 | (2,840) | (807) |
Amortization | (68) | (65) | (135) | (127) |
Net derivative gains (losses) from economic hedges related to mortgage servicing activities | 978 | (946) | 2,433 | (65) |
Total servicing income, net | 360 | 514 | 1,210 | 1,037 |
Net gains on mortgage loan origination/sales activities | 1,054 | 1,191 | 1,802 | 2,215 |
Total mortgage banking noninterest income | 1,414 | 1,705 | 3,012 | 3,252 |
Market-related valuation changes to MSRs, net of hedge results | $ 154 | $ 107 | $ 652 | $ 215 |
Mortgage Banking Activities, 94
Mortgage Banking Activities, Analysis of Changes in Liability for Mortgage Loan Repurchase Losses (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Liability For Mortgage Loan Repurchase Losses [Abstract] | ||||
Balance, beginning of period | $ 355 | $ 586 | $ 378 | $ 615 |
Provision for repurchase losses: | ||||
Loan sales | 8 | 13 | 15 | 23 |
Change in estimate | (89) | (31) | (108) | (57) |
Net reductions | (81) | (18) | (93) | (34) |
Losses | (19) | (11) | (30) | (24) |
Balance, end of period | 255 | $ 557 | 255 | $ 557 |
Liability For Mortgage Loans Repurchase Losses [Member] | ||||
Mortgage Banking Activities (Textual) [Abstract] | ||||
Range of possible loss, portion not accrued | $ 179 | $ 179 |
Intangible Assets (Details)
Intangible Assets (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Amortized intangible assets: | ||||
Gross carrying value | $ 20,195 | $ 19,225 | ||
Accumulated amortization | (15,500) | (14,764) | ||
Net carrying value | 4,695 | 4,461 | ||
Unamortized intangible assets: | ||||
Mortgage servicing rights | 10,396 | 12,415 | ||
Goodwill | 26,963 | 25,529 | $ 25,705 | $ 25,705 |
Trademark | 14 | 14 | ||
MSRs [Member] | ||||
Amortized intangible assets: | ||||
Gross carrying value | 3,408 | 3,228 | ||
Accumulated amortization | (2,055) | (1,920) | ||
Net carrying value | 1,353 | 1,308 | ||
Core deposit intangibles [Member] | ||||
Amortized intangible assets: | ||||
Gross carrying value | 12,834 | 12,834 | ||
Accumulated amortization | (10,755) | (10,295) | ||
Net carrying value | 2,079 | 2,539 | ||
Customer relationship and other intangibles [Member] | ||||
Amortized intangible assets: | ||||
Gross carrying value | 3,953 | 3,163 | ||
Accumulated amortization | (2,690) | (2,549) | ||
Net carrying value | $ 1,263 | $ 614 |
Intangible Assets, Amortization
Intangible Assets, Amortization Expense (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | ||||
Six months ended June 30, 2016 | $ 299 | $ 312 | $ 592 | $ 624 |
Estimate for the remainder of 2016 | 743 | 743 | ||
Estimate for year ended December 31, | ||||
2,017 | 1,388 | 1,388 | ||
2,018 | 1,264 | 1,264 | ||
2,019 | 280 | 280 | ||
2,020 | 246 | 246 | ||
2,021 | 204 | 204 | ||
Finite lived intangible assets [Member] | ||||
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | ||||
Six months ended June 30, 2016 | 736 | |||
Amortized MSRs [Member] | ||||
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | ||||
Six months ended June 30, 2016 | 135 | |||
Estimate for the remainder of 2016 | 133 | 133 | ||
Estimate for year ended December 31, | ||||
2,017 | 228 | 228 | ||
2,018 | 190 | 190 | ||
2,019 | 168 | 168 | ||
2,020 | 153 | 153 | ||
2,021 | 129 | 129 | ||
Core deposit intangibles [Member] | ||||
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | ||||
Six months ended June 30, 2016 | 460 | |||
Estimate for the remainder of 2016 | 459 | 459 | ||
Estimate for year ended December 31, | ||||
2,017 | 851 | 851 | ||
2,018 | 769 | 769 | ||
2,019 | 0 | 0 | ||
2,020 | 0 | 0 | ||
2,021 | 0 | 0 | ||
Customer relationship and other intangibles [Member] | ||||
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | ||||
Six months ended June 30, 2016 | 141 | |||
Estimate for the remainder of 2016 | 151 | 151 | ||
Estimate for year ended December 31, | ||||
2,017 | 309 | 309 | ||
2,018 | 305 | 305 | ||
2,019 | 112 | 112 | ||
2,020 | 93 | 93 | ||
2,021 | $ 75 | $ 75 |
Intangible Assets, Allocation o
Intangible Assets, Allocation of Goodwill to Operating Segments (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2014 | |
Goodwill [Roll Forward] | |||
Goodwill, Beginning Balance | $ 25,529 | ||
Goodwill, Written off Related to Sale of Business Unit | (84) | ||
Goodwill, Acquired During Period | 1,518 | ||
Goodwill, Ending Balance | 26,963 | ||
Goodwill | 25,529 | $ 25,705 | $ 25,705 |
Community Banking [Member] | |||
Goodwill [Roll Forward] | |||
Goodwill, Beginning Balance | 16,849 | ||
Goodwill, Written off Related to Sale of Business Unit | 0 | ||
Goodwill, Acquired During Period | 0 | ||
Goodwill, Ending Balance | 16,849 | ||
Goodwill | 16,849 | 16,870 | 16,870 |
Wholesale Banking [Member] | |||
Goodwill [Roll Forward] | |||
Goodwill, Beginning Balance | 7,475 | ||
Goodwill, Written off Related to Sale of Business Unit | (84) | ||
Goodwill, Acquired During Period | 1,518 | ||
Goodwill, Ending Balance | 8,909 | ||
Goodwill | 7,475 | 7,633 | 7,633 |
Wealth and Investment Management [Member] | |||
Goodwill [Roll Forward] | |||
Goodwill, Beginning Balance | 1,205 | ||
Goodwill, Written off Related to Sale of Business Unit | 0 | ||
Goodwill, Acquired During Period | 0 | ||
Goodwill, Ending Balance | 1,205 | ||
Goodwill | $ 1,205 | $ 1,202 | $ 1,202 |
Guarantees, Pledged Assets an98
Guarantees, Pledged Assets and Collateral (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | ||
Guarantor Obligations [Line Items] | ||||||
Carrying value | $ 347 | $ 347 | $ 499 | |||
Maximum exposure to loss, expires in one year or less | 26,066 | 26,066 | 25,519 | |||
Maximum exposure to loss, expires in one year through three years | 18,485 | 18,485 | 16,821 | |||
Maximum exposure to loss, expires in three years through five years | 8,802 | 8,802 | 9,328 | |||
Maximum exposure to loss, expires after five years | 14,791 | 14,791 | 12,839 | |||
Maximum exposure to loss | 68,144 | 68,144 | 64,507 | |||
Total assets | [1] | 1,889,235 | 1,889,235 | 1,787,632 | ||
Securities owned and pledged as collateral related to repurchase agreements not available to be repledged, Fair Value | 6,300 | 6,300 | 6,900 | |||
Mortgages held for sale | 14,400 | 14,400 | 8,700 | |||
Carrying value of delinquent loans eligible for repurchase | 1,000 | 1,000 | 1,300 | |||
Security Owned and Pledged as Collateral, Fair Value [Abstract] | ||||||
Trading assets and other | 104,793 | 104,793 | 73,396 | |||
Investment securities | 95,354 | 95,354 | 113,912 | |||
Mortgages held for sale and loans | 497,364 | 497,364 | 453,058 | |||
Total pledged assets | 697,511 | 697,511 | 640,366 | |||
Non-investment grade [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Maximum exposure to loss | 29,030 | 29,030 | 25,079 | |||
Written put options [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Carrying value | 234 | 234 | 371 | |||
Maximum exposure to loss, expires in one year or less | 8,919 | 8,919 | 7,387 | |||
Maximum exposure to loss, expires in one year through three years | 7,348 | 7,348 | 6,463 | |||
Maximum exposure to loss, expires in three years through five years | 4,314 | 4,314 | 4,505 | |||
Maximum exposure to loss, expires after five years | 1,563 | 1,563 | 1,440 | |||
Maximum exposure to loss | 22,144 | 22,144 | 19,795 | |||
Written put options [Member] | Non-investment grade [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Maximum exposure to loss | 11,506 | 11,506 | 9,583 | |||
Direct pay letters of credit (DPLCs) [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Maximum exposure to loss | 11,200 | 11,200 | 11,800 | |||
Third Party Clearing Indemnifications [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Maximum exposure to loss | 1,800 | 1,800 | 1,800 | |||
Third-party Clearing Customer Obligations | 181 | 181 | 352 | |||
Collateral Provided to Third-party Clearing Agents | 1,600 | 1,600 | 1,500 | |||
Standby Letters of Credit [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Carrying value | 40 | 40 | 38 | |||
Maximum exposure to loss, expires in one year or less | 16,261 | 16,261 | 16,360 | |||
Maximum exposure to loss, expires in one year through three years | 10,407 | 10,407 | 9,618 | |||
Maximum exposure to loss, expires in three years through five years | 3,731 | 3,731 | 4,116 | |||
Maximum exposure to loss, expires after five years | 798 | 798 | 642 | |||
Maximum exposure to loss | 31,197 | 31,197 | 30,736 | |||
Standby Letters of Credit [Member] | Non-investment grade [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Maximum exposure to loss | 10,374 | 10,374 | 8,981 | |||
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 | 0 | |||
Maximum exposure to loss, expires in three years through five years | 0 | 0 | 0 | |||
Maximum exposure to loss, expires after five years | 1,770 | 1,770 | 1,841 | |||
Maximum exposure to loss | 1,770 | 1,770 | 1,841 | |||
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 | 64 | 64 | 62 | |||
Maximum exposure to loss, expires in one year or less | 115 | 115 | 112 | |||
Maximum exposure to loss, expires in one year through three years | 709 | 709 | 723 | |||
Maximum exposure to loss, expires in three years through five years | 739 | 739 | 690 | |||
Maximum exposure to loss, expires after five years | 7,842 | 7,842 | 6,434 | |||
Maximum exposure to loss | 9,405 | 9,405 | 7,959 | |||
Loans and MHFS sold with recourse [Member] | Non-investment grade [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Maximum exposure to loss | 6,382 | 6,382 | 4,864 | |||
Factoring guarantee [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Carrying value | 0 | 0 | 0 | |||
Maximum exposure to loss, expires in one year or less | 740 | 740 | 1,598 | |||
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 | 740 | 740 | 1,598 | |||
Factoring guarantee [Member] | Non-investment grade [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Maximum exposure to loss | 740 | 740 | 1,598 | |||
Other guarantees [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Carrying value | 9 | 9 | 28 | |||
Maximum exposure to loss, expires in one year or less | 31 | 31 | 62 | |||
Maximum exposure to loss, expires in one year through three years | 21 | 21 | 17 | |||
Maximum exposure to loss, expires in three years through five years | 18 | 18 | 17 | |||
Maximum exposure to loss, expires after five years | 2,818 | 2,818 | 2,482 | |||
Maximum exposure to loss | 2,888 | 2,888 | 2,578 | |||
Other guarantees [Member] | Non-investment grade [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Maximum exposure to loss | 28 | 28 | 53 | |||
Loans and MHFS sold with recourse [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Loans repurchased | 1 | $ 2 | 2 | $ 3 | ||
VIEs that we consolidate [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Total assets | 14,000 | 14,000 | 5,600 | |||
Secured Borrowing transactions excluded [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Total assets | 5,800 | 5,800 | 7,300 | |||
Trading assets and other [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Securities owned and pledged as collateral available to be repledged, Fair Value | 104,300 | 104,300 | 73,000 | |||
Investment securities [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Securities owned and pledged as collateral available to be repledged, Fair Value | 12,800 | 12,800 | 13,000 | |||
Securities owned and pledged as collateral related to repurchase agreements not available to be repledged, carrying value | 5,800 | 5,800 | 6,500 | |||
Securities owned and pledged as collateral related to repurchase agreements not available to be repledged, Fair Value | $ 5,900 | $ 5,900 | $ 6,500 | |||
[1] | Our consolidated assets at June 30, 2016, and December 31, 2015, 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, $172 million and $157 million; Federal funds sold, securities purchased under resale agreements and other short-term investments, $135 million and $0 million; Trading assets, $101 million and $1 million; Investment securities, $303 million and $425 million; Net loans, $12.9 billion and $4.8 billion; Other assets, $447 million and $242 million; and Total assets, $14.0 billion and $5.6 billion, respectively. |
Guarantees, Offsetting of Resal
Guarantees, Offsetting of Resale and Repurchase Agreements and Securities Borrowing and Lending (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
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 | $ 6,300 | $ 6,900 |
Net amounts in consolidated balance sheet | 78,287 | 65,777 |
Collateral received, fair value | 107,600 | 84,900 |
Collateral received with the right to sell or repledge | 107,600 | 84,900 |
Collateral sold or repledged | 67,900 | 51,100 |
Collateral pledged, fair value | 123,400 | 92,900 |
Resale and securities borrowing agreements | ||
Gross amounts recognized | 95,437 | 74,935 |
Gross amounts offset in consolidated balance sheet | (17,150) | (9,158) |
Net amounts in consolidated balance sheet | 78,287 | 65,777 |
Collateral not recognized in consolidated balance sheet | (77,683) | (65,035) |
Net amount | 604 | 742 |
Repurchase and securities lending agreements | ||
Gross amounts recognized | 121,276 | 91,278 |
Gross amounts offset in consolidated balance sheet | (17,150) | (9,158) |
Net amounts in consolidated balance sheet | 104,126 | 82,120 |
Collateral pledged but not netted in consolidated balance sheet | (103,791) | (81,772) |
Net amount | 335 | 348 |
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 | 54,500 | 45,700 |
Resale and securities borrowing agreements | ||
Net amounts in consolidated balance sheet | 54,500 | 45,700 |
Loans [Member] | ||
Financial Instruments Owned and Pledged as Collateral [Line Items] | ||
Net amounts in consolidated balance sheet | 23,800 | 20,100 |
Resale and securities borrowing agreements | ||
Net amounts in consolidated balance sheet | $ 23,800 | $ 20,100 |
Guarantees, Pledged Assets a100
Guarantees, Pledged Assets and Collateral Guarantees, Collateral Type and Contractual Maturities of Repurchase Agreements and Securities Lending Agreements (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | $ 107,465 | $ 81,542 |
Securities Lending | 13,811 | 9,736 |
Total Repurchases and Securities Lending | 121,276 | 91,278 |
Securities of U.S. Treasury and federal agencies [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 52,177 | 32,254 |
Securities Lending | 80 | 61 |
Securities of U.S. states and political subdivisions [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 109 | 7 |
Federal agencies [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 43,001 | 37,033 |
Securities Lending | 148 | 76 |
Non-Agency Mortgage-backed Securities [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 1,954 | 1,680 |
Securities Lending | 1 | 0 |
Corporate debt securities [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 5,298 | 4,674 |
Securities Lending | 924 | 899 |
Asset-backed Securities [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 2,789 | 2,275 |
Equity Securities [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 999 | 2,457 |
Securities Lending | 12,658 | 8,700 |
Other [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 1,138 | 1,162 |
Overnight/Continuous [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 83,097 | 58,021 |
Securities Lending | 11,718 | 7,845 |
Total Repurchases and Securities Lending | 94,815 | 65,866 |
Up to 30 days [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 15,454 | 19,561 |
Securities Lending | 220 | 362 |
Total Repurchases and Securities Lending | 15,674 | 19,923 |
30-90 days [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 7,023 | 2,935 |
Securities Lending | 1,873 | 1,529 |
Total Repurchases and Securities Lending | 8,896 | 4,464 |
Over 90 days [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 1,891 | 1,025 |
Securities Lending | 0 | 0 |
Total Repurchases and Securities Lending | $ 1,891 | $ 1,025 |
Legal Actions (Details)
Legal Actions (Details) - USD ($) $ in Billions | Jul. 13, 2012 | Jun. 30, 2016 |
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 |
Derivatives, Notional or Contra
Derivatives, Notional or Contractual Amounts (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Derivatives (trading and other assets) | $ 143,198 | $ 84,580 |
Fair value asset derivatives, netting | (122,199) | (66,924) |
Net amounts in consolidated balance sheet, asset | 20,999 | 17,656 |
Fair value liability derivatives | 131,702 | 79,924 |
Fair value liability derivatives, netting | (116,219) | (66,004) |
Net amounts in consolidated balance sheet, liability | 15,483 | 13,920 |
Interest rate contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Derivatives (trading and other assets) | 121,360 | 62,725 |
Fair value asset derivatives, netting | (110,736) | (56,612) |
Net amounts in consolidated balance sheet, asset | 10,624 | 6,113 |
Fair value liability derivatives | 110,820 | 57,977 |
Fair value liability derivatives, netting | (103,357) | (53,259) |
Net amounts in consolidated balance sheet, liability | 7,463 | 4,718 |
Commodity contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Derivatives (trading and other assets) | 2,920 | 4,659 |
Fair value asset derivatives, netting | (905) | (998) |
Net amounts in consolidated balance sheet, asset | 2,015 | 3,661 |
Fair value liability derivatives | 3,282 | 5,519 |
Fair value liability derivatives, netting | (781) | (1,052) |
Net amounts in consolidated balance sheet, liability | 2,501 | 4,467 |
Equity contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Derivatives (trading and other assets) | 7,350 | 7,599 |
Fair value asset derivatives, netting | (2,468) | (2,625) |
Net amounts in consolidated balance sheet, asset | 4,882 | 4,974 |
Fair value liability derivatives | 5,494 | 4,808 |
Fair value liability derivatives, netting | (2,219) | (2,241) |
Net amounts in consolidated balance sheet, liability | 3,275 | 2,567 |
Foreign exchange contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Derivatives (trading and other assets) | 10,975 | 8,947 |
Fair value asset derivatives, netting | (7,647) | (6,141) |
Net amounts in consolidated balance sheet, asset | 3,328 | 2,806 |
Fair value liability derivatives | 11,454 | 10,933 |
Fair value liability derivatives, netting | (9,440) | (8,968) |
Net amounts in consolidated balance sheet, liability | 2,014 | 1,965 |
Credit Contracts Protection Sold [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Derivatives (trading and other assets) | 60 | 83 |
Fair value asset derivatives, netting | (53) | (79) |
Net amounts in consolidated balance sheet, asset | 7 | 4 |
Fair value liability derivatives | 467 | 541 |
Fair value liability derivatives, netting | (373) | (434) |
Net amounts in consolidated balance sheet, liability | 94 | 107 |
Credit Contracts Protection Purchased [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Derivatives (trading and other assets) | 533 | 567 |
Fair value asset derivatives, netting | (390) | (469) |
Net amounts in consolidated balance sheet, asset | 143 | 98 |
Fair value liability derivatives | 97 | 88 |
Fair value liability derivatives, netting | (49) | (50) |
Net amounts in consolidated balance sheet, liability | 48 | 38 |
Other contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value liability derivatives | 88 | 58 |
Fair value liability derivatives, netting | 0 | 0 |
Net amounts in consolidated balance sheet, liability | 88 | 58 |
Designated as Hedging Instrument [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Derivatives (trading and other assets) | 15,893 | 7,855 |
Fair value liability derivatives | 6,114 | 4,747 |
Designated as Hedging Instrument [Member] | Interest rate contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 225,772 | 191,684 |
Derivatives (trading and other assets) | 14,893 | 7,477 |
Fair value liability derivatives | 4,456 | 2,253 |
Designated as Hedging Instrument [Member] | Foreign exchange contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 26,670 | 25,115 |
Derivatives (trading and other assets) | 1,000 | 378 |
Fair value liability derivatives | 1,658 | 2,494 |
Not Designated as Hedging Instrument [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Derivatives (trading and other assets) | 127,305 | 76,725 |
Fair value liability derivatives | 125,588 | 75,177 |
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) | 2,475 | 1,047 |
Fair value liability derivatives | 1,286 | 462 |
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) | 124,830 | 75,678 |
Fair value liability derivatives | 124,302 | 74,715 |
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 | 243,492 | 211,375 |
Derivatives (trading and other assets) | 1,134 | 195 |
Fair value liability derivatives | 1,006 | 315 |
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 | 5,655,493 | 4,685,898 |
Derivatives (trading and other assets) | 105,333 | 55,053 |
Fair value liability derivatives | 105,358 | 55,409 |
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 | 54,628 | 47,571 |
Derivatives (trading and other assets) | 2,920 | 4,659 |
Fair value liability derivatives | 3,282 | 5,519 |
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 | 7,600 | 7,427 |
Derivatives (trading and other assets) | 808 | 531 |
Fair value liability derivatives | 49 | 47 |
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 | 161,398 | 139,956 |
Derivatives (trading and other assets) | 6,542 | 7,068 |
Fair value liability derivatives | 5,445 | 4,761 |
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 | 15,945 | 16,407 |
Derivatives (trading and other assets) | 455 | 321 |
Fair value liability derivatives | 231 | 100 |
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 | 331,009 | 295,962 |
Derivatives (trading and other assets) | 9,520 | 8,248 |
Fair value liability derivatives | 9,565 | 8,339 |
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 | 9,917 | 10,544 |
Derivatives (trading and other assets) | 60 | 83 |
Fair value liability derivatives | 467 | 541 |
Not Designated as Hedging Instrument [Member] | Credit Contracts Protection Purchased [Member] | Free standing derivatives (economic hedges) [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 184 | 0 |
Derivatives (trading and other assets) | 78 | 0 |
Fair value liability derivatives | 0 | 0 |
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 | 20,765 | 18,018 |
Derivatives (trading and other assets) | 455 | 567 |
Fair value liability derivatives | 97 | 88 |
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 | 983 | 1,041 |
Derivatives (trading and other assets) | 0 | 0 |
Fair value liability derivatives | 88 | 58 |
Basis swap [Member] | Designated as Hedging Instrument [Member] | Interest rate contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 1,900 | 1,900 |
Basis swap [Member] | Designated as Hedging Instrument [Member] | Foreign exchange contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | $ 7,900 | $ 7,800 |
Derivatives, Balance Sheet Offs
Derivatives, Balance Sheet Offsetting of Assets and Liabilities (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Derivative Assets | ||
Gross amounts recognized | $ 143,198 | $ 84,580 |
Gross amounts offset in consolidated balance sheet | (122,199) | (66,924) |
Net amounts in consolidated balance sheet | 20,999 | 17,656 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (1,875) | (1,332) |
Net amounts | 19,124 | 16,324 |
Derivative Liabilities | ||
Gross amounts recognized | 131,702 | 79,924 |
Gross amounts offset in consolidated balance sheet, liability | (116,219) | (66,004) |
Net amounts in consolidated balance sheet | 15,483 | 13,920 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (6,015) | (4,484) |
Net amounts | 9,468 | 9,436 |
Derivatives (Textual) [Abstract] | ||
Derivative assets subject to enforceable master netting arrangements | 126,800 | 69,900 |
Derivative liabilities subject to enforceable master netting arrangements | 124,000 | 74,000 |
Derivative assets not subject to enforceable master netting arrangements | 16,400 | 14,600 |
Derivative liabilities not subject to enforceable master netting arrangements | 7,700 | 5,900 |
Valuation adjustments for derivative assets | 452 | 375 |
Valuation adjustments for derivative liabilities | 104 | 81 |
Cash collateral netted against derivative assets | 10,400 | 5,300 |
Cash collateral netted against derivative liabilities | 4,800 | 4,700 |
Interest rate contract [Member] | ||
Derivative Assets | ||
Gross amounts recognized | 121,360 | 62,725 |
Gross amounts offset in consolidated balance sheet | (110,736) | (56,612) |
Net amounts in consolidated balance sheet | 10,624 | 6,113 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (1,266) | (749) |
Net amounts | $ 9,358 | $ 5,364 |
Percent exchanged in the over the counter market | 27.00% | 39.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 110,820 | $ 57,977 |
Gross amounts offset in consolidated balance sheet, liability | (103,357) | (53,259) |
Net amounts in consolidated balance sheet | 7,463 | 4,718 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (4,897) | (3,543) |
Net amounts | $ 2,566 | $ 1,175 |
Percent exchanged in over the counter market | 24.00% | 35.00% |
Commodity contract [Member] | ||
Derivative Assets | ||
Gross amounts recognized | $ 2,920 | $ 4,659 |
Gross amounts offset in consolidated balance sheet | (905) | (998) |
Net amounts in consolidated balance sheet | 2,015 | 3,661 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (92) | (76) |
Net amounts | $ 1,923 | $ 3,585 |
Percent exchanged in the over the counter market | 61.00% | 35.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 3,282 | $ 5,519 |
Gross amounts offset in consolidated balance sheet, liability | (781) | (1,052) |
Net amounts in consolidated balance sheet | 2,501 | 4,467 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (46) | (40) |
Net amounts | $ 2,455 | $ 4,427 |
Percent exchanged in over the counter market | 68.00% | 84.00% |
Equity contract [Member] | ||
Derivative Assets | ||
Gross amounts recognized | $ 7,350 | $ 7,599 |
Gross amounts offset in consolidated balance sheet | (2,468) | (2,625) |
Net amounts in consolidated balance sheet | 4,882 | 4,974 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (469) | (471) |
Net amounts | $ 4,413 | $ 4,503 |
Percent exchanged in the over the counter market | 54.00% | 51.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 5,494 | $ 4,808 |
Gross amounts offset in consolidated balance sheet, liability | (2,219) | (2,241) |
Net amounts in consolidated balance sheet | 3,275 | 2,567 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (294) | (154) |
Net amounts | $ 2,981 | $ 2,413 |
Percent exchanged in over the counter market | 82.00% | 85.00% |
Foreign exchange contract [Member] | ||
Derivative Assets | ||
Gross amounts recognized | $ 10,975 | $ 8,947 |
Gross amounts offset in consolidated balance sheet | (7,647) | (6,141) |
Net amounts in consolidated balance sheet | 3,328 | 2,806 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (43) | (34) |
Net amounts | $ 3,285 | $ 2,772 |
Percent exchanged in the over the counter market | 95.00% | 98.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 11,454 | $ 10,933 |
Gross amounts offset in consolidated balance sheet, liability | (9,440) | (8,968) |
Net amounts in consolidated balance sheet | 2,014 | 1,965 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (698) | (634) |
Net amounts | $ 1,316 | $ 1,331 |
Percent exchanged in over the counter market | 100.00% | 100.00% |
Credit Contracts Protection Sold [Member] | ||
Derivative Assets | ||
Gross amounts recognized | $ 60 | $ 83 |
Gross amounts offset in consolidated balance sheet | (53) | (79) |
Net amounts in consolidated balance sheet | 7 | 4 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | 0 | 0 |
Net amounts | $ 7 | $ 4 |
Percent exchanged in the over the counter market | 81.00% | 76.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 467 | $ 541 |
Gross amounts offset in consolidated balance sheet, liability | (373) | (434) |
Net amounts in consolidated balance sheet | 94 | 107 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (75) | (107) |
Net amounts | $ 19 | $ 0 |
Percent exchanged in over the counter market | 99.00% | 100.00% |
Credit Contracts Protection Purchased [Member] | ||
Derivative Assets | ||
Gross amounts recognized | $ 533 | $ 567 |
Gross amounts offset in consolidated balance sheet | (390) | (469) |
Net amounts in consolidated balance sheet | 143 | 98 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (5) | (2) |
Net amounts | $ 138 | $ 96 |
Percent exchanged in the over the counter market | 99.00% | 100.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 97 | $ 88 |
Gross amounts offset in consolidated balance sheet, liability | (49) | (50) |
Net amounts in consolidated balance sheet | 48 | 38 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (5) | (6) |
Net amounts | $ 43 | $ 32 |
Percent exchanged in over the counter market | 48.00% | 70.00% |
Other contract [Member] | ||
Derivative Liabilities | ||
Gross amounts recognized | $ 88 | $ 58 |
Gross amounts offset in consolidated balance sheet, liability | 0 | 0 |
Net amounts in consolidated balance sheet | 88 | 58 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | 0 | 0 |
Net amounts | $ 88 | $ 58 |
Percent exchanged in over the counter market | 100.00% | 100.00% |
Trading assets (excluding derivatives) [Member] | ||
Derivative Assets | ||
Net amounts in consolidated balance sheet | $ 8,500 | $ 12,400 |
Other Assets [Member] | ||
Derivative Assets | ||
Net amounts in consolidated balance sheet | $ 12,500 | $ 5,300 |
Derivatives, Net Gains (Losses)
Derivatives, Net Gains (Losses) in Income related to Fair Value Hedges (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Net Gains Losses Recognized In Income Statement Related To Derivatives In Fair Value Hedging Relationships [Abstract] | ||||
Net interest income (expense) recognized on derivatives | $ 328 | $ 330 | $ 643 | $ 675 |
Gains (losses) recorded in noninterest income recognized on derivatives | 645 | (786) | 3,580 | (1,814) |
Gains (losses) recorded in noninterest income recognized on hedged item | (477) | 499 | (2,903) | 1,700 |
Net recognized on fair value hedges (ineffective portion) | 168 | (287) | 677 | (114) |
Derivatives (Textual) [Abstract] | ||||
Time value component recognized as net interest income (expense) on forward derivatives excluded from the assessment of hedge effectiveness | (3) | (2) | (7) | (3) |
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 | (170) | (200) | (351) | (386) |
Gains (losses) recorded in noninterest income recognized on derivatives | (1,012) | 1,352 | (2,695) | 686 |
Gains (losses) recorded in noninterest income recognized on hedged item | 1,018 | (1,357) | 2,709 | (696) |
Net recognized on fair value hedges (ineffective portion) | 6 | (5) | 14 | (10) |
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 | 2 | (1) | 2 | 0 |
Gains (losses) recorded in noninterest income recognized on derivatives | 134 | (116) | 68 | 164 |
Gains (losses) recorded in noninterest income recognized on hedged item | (133) | 111 | (74) | (158) |
Net recognized on fair value hedges (ineffective portion) | 1 | (5) | (6) | 6 |
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 | (2) | (4) | (4) | (7) |
Gains (losses) recorded in noninterest income recognized on derivatives | (5) | 19 | (42) | 6 |
Gains (losses) recorded in noninterest income recognized on hedged item | 6 | (21) | 39 | (11) |
Net recognized on fair value hedges (ineffective portion) | 1 | (2) | (3) | (5) |
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 | 483 | 479 | 965 | 951 |
Gains (losses) recorded in noninterest income recognized on derivatives | 1,983 | (2,305) | 5,086 | (1,047) |
Gains (losses) recorded in noninterest income recognized on hedged item | (1,762) | 2,068 | (4,569) | 918 |
Net recognized on fair value hedges (ineffective portion) | 221 | (237) | 517 | (129) |
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 | 15 | 56 | 31 | 117 |
Gains (losses) recorded in noninterest income recognized on derivatives | (455) | 264 | 1,163 | (1,623) |
Gains (losses) recorded in noninterest income recognized on hedged item | 394 | (302) | (1,008) | 1,647 |
Net recognized on fair value hedges (ineffective portion) | $ (61) | $ (38) | $ 155 | $ 24 |
Derivatives, Net Gains (Loss105
Derivatives, Net Gains (Losses) related to Cash Flow Hedges (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2016 | Jun. 30, 2015 | |
Net Gains Losses Recognized Related to Derivatives in Cash Flow Hedging Relationships [Abstract] | ||||||
Gains (losses) (pre tax) recognized in OCI on derivatives | $ 1,057 | $ (488) | $ 3,056 | $ 464 | ||
Gains (pre tax) reclassified from cumulative OCI into net income | 265 | 268 | 521 | 502 | ||
Gains (losses) (pre tax) recognized in noninterest income for hedge ineffectiveness. | $ 0 | $ 0 | 1 | 1 | ||
Derivatives (Textual) [Abstract] | ||||||
Deferred net gains on derivatives in other comprehensive income | $ 1,100 | |||||
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 (Loss106
Derivatives, Net Gains (Losses) in Income related to Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Derivatives (Textual) [Abstract] | |||||
Gains (losses) on derivatives used to hedge residential mortgage servicing rights | $ 978 | $ (946) | $ 2,433 | $ (65) | |
Aggregate fair value of derivatives used for economic hedges net asset (liability) | 894 | 894 | $ (3) | ||
Aggregate fair value of derivative loan commitments net asset (liability) | 285 | 285 | $ 56 | ||
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 | 1,370 | (337) | 2,290 | 1,482 | |
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 | 1,149 | (914) | 1,796 | 297 | |
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 | 566 | (383) | 1,431 | 264 | |
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 | (117) | 114 | (252) | 50 | |
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 | 205 | 25 | 288 | 5 | |
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 | 495 | (670) | 329 | (22) | |
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 | 221 | 577 | 494 | 1,185 | |
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 | 510 | (23) | 975 | 364 | |
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 | (280) | 489 | (730) | 396 | |
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 | 64 | 13 | 117 | 44 | |
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 | (315) | (139) | (295) | 50 | |
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 | 276 | 215 | 498 | 325 | |
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 | (25) | 7 | (41) | (1) | |
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 | $ (9) | $ 15 | $ (30) | $ 7 |
Derivatives, Sold and Purchased
Derivatives, Sold and Purchased Credit Derivatives (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value liability | $ 467 | $ 541 |
Notional amount Protection sold | 9,917 | 10,544 |
Notional amount Protection purchased with identical underlyings | 5,545 | 6,481 |
Notional Net protection sold | 4,372 | 4,063 |
Notional Other protection purchased | 15,404 | 11,537 |
Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | 4,909 | 5,090 |
Corporate bonds [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value liability | 25 | 44 |
Notional amount Protection sold | 4,561 | 4,838 |
Notional amount Protection purchased with identical underlyings | 3,376 | 3,602 |
Notional Net protection sold | 1,185 | 1,236 |
Notional Other protection purchased | $ 2,089 | $ 2,272 |
Corporate bonds [Member] | Minimum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Jan. 1, 2016 | Jan. 1, 2016 |
Corporate bonds [Member] | Maximum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Dec. 31, 2025 | Dec. 31, 2025 |
Corporate bonds [Member] | Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | $ 1,681 | $ 1,745 |
Structured products [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value liability | 233 | 275 |
Notional amount Protection sold | 493 | 598 |
Notional amount Protection purchased with identical underlyings | 333 | 395 |
Notional Net protection sold | 160 | 203 |
Notional Other protection purchased | $ 123 | $ 142 |
Structured products [Member] | Minimum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Jan. 1, 2020 | Jan. 1, 2017 |
Structured products [Member] | Maximum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Dec. 31, 2047 | Dec. 31, 2047 |
Structured products [Member] | Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | $ 395 | $ 463 |
Credit default swap [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value liability | 0 | 0 |
Notional amount Protection sold | 1,610 | 1,727 |
Notional amount Protection purchased with identical underlyings | 1,226 | 1,717 |
Notional Net protection sold | 384 | 10 |
Notional Other protection purchased | $ 2,662 | $ 960 |
Credit default swap [Member] | Minimum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Jan. 1, 2016 | Jan. 1, 2016 |
Credit default swap [Member] | Maximum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Dec. 31, 2021 | Dec. 31, 2020 |
Credit default swap [Member] | Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | $ 240 | $ 370 |
Commercial Mortgage Backed Securities [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value liability | 187 | 203 |
Notional amount Protection sold | 614 | 822 |
Notional amount Protection purchased with identical underlyings | 569 | 766 |
Notional Net protection sold | 45 | 56 |
Notional Other protection purchased | $ 53 | $ 316 |
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, 2058 | Dec. 31, 2057 |
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 | 20 | 18 |
Notional amount Protection sold | 46 | 47 |
Notional amount Protection purchased with identical underlyings | 41 | 1 |
Notional Net protection sold | 5 | 46 |
Notional Other protection purchased | $ 189 | $ 71 |
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 | $ 0 |
Other Credit Derivatives [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value liability | 2 | 1 |
Notional amount Protection sold | 2,593 | 2,512 |
Notional amount Protection purchased with identical underlyings | 0 | 0 |
Notional Net protection sold | 2,593 | 2,512 |
Notional Other protection purchased | $ 10,288 | $ 7,776 |
Other Credit Derivatives [Member] | Minimum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Jan. 1, 2016 | Jan. 1, 2016 |
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 | $ 2,593 | $ 2,512 |
Derivatives Credit-Risk Conting
Derivatives Credit-Risk Contingent Feature Textuals (Details) - USD ($) $ in Billions | Jun. 30, 2016 | Dec. 31, 2015 |
Derivatives [Abstract] | ||
Aggregate fair value of derivative instruments with credit-risk-related contingent features, net liability | $ 14.5 | $ 12.3 |
Collateral for derivative instruments with credit-risk-related contingent features | 10.8 | 8.8 |
Additional collateral for derivative instruments with credit-risk-related contingent features | $ 3.7 | $ 3.6 |
Fair Value, Measurements From B
Fair Value, Measurements From Brokers or Third Party Pricing Services (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Financial assets | ||
Available-for-sale Securities | $ 253,006 | $ 267,358 |
Derivatives (trading and other assets) | 143,198 | 84,580 |
Financial liabilities | ||
Derivatives (liabilities) | (131,702) | (79,924) |
Brokers [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial assets | ||
Trading assets (excluding derivatives) | 0 | 0 |
Available-for-sale Securities | 0 | 0 |
Derivatives (trading and other assets) | 0 | 0 |
Financial liabilities | ||
Derivatives (liabilities) | 0 | 0 |
Other liabilities (2) | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | ||
Financial assets | ||
Available-for-sale Securities | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 1 [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Financial assets | ||
Available-for-sale Securities | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 1 [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Financial assets | ||
Available-for-sale Securities | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-Backed Securities [Member] | ||
Financial assets | ||
Available-for-sale Securities | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 1 [Member] | Other debt securities | ||
Financial assets | ||
Available-for-sale Securities | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | ||
Financial assets | ||
Available-for-sale Securities | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial assets | ||
Trading assets (excluding derivatives) | 0 | 0 |
Available-for-sale Securities | 846 | 729 |
Derivatives (trading and other assets) | 0 | 0 |
Financial liabilities | ||
Derivatives (liabilities) | 0 | 0 |
Other liabilities (2) | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | ||
Financial assets | ||
Available-for-sale Securities | 846 | 729 |
Brokers [Member] | Fair Value, Inputs, Level 2 [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Financial assets | ||
Available-for-sale Securities | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 2 [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Financial assets | ||
Available-for-sale Securities | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-Backed Securities [Member] | ||
Financial assets | ||
Available-for-sale Securities | 222 | 226 |
Brokers [Member] | Fair Value, Inputs, Level 2 [Member] | Other debt securities | ||
Financial assets | ||
Available-for-sale Securities | 624 | 503 |
Brokers [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | ||
Financial assets | ||
Available-for-sale Securities | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial assets | ||
Trading assets (excluding derivatives) | 0 | 0 |
Available-for-sale Securities | 832 | 409 |
Derivatives (trading and other assets) | 0 | 0 |
Financial liabilities | ||
Derivatives (liabilities) | 0 | 0 |
Other liabilities (2) | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | ||
Financial assets | ||
Available-for-sale Securities | 832 | 409 |
Brokers [Member] | Fair Value, Inputs, Level 3 [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Financial assets | ||
Available-for-sale Securities | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 3 [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Financial assets | ||
Available-for-sale Securities | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-Backed Securities [Member] | ||
Financial assets | ||
Available-for-sale Securities | 0 | 0 |
Brokers [Member] | Fair Value, Inputs, Level 3 [Member] | Other debt securities | ||
Financial assets | ||
Available-for-sale Securities | 832 | 409 |
Brokers [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | ||
Financial assets | ||
Available-for-sale Securities | 0 | 0 |
Third party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial assets | ||
Trading assets (excluding derivatives) | 0 | 0 |
Available-for-sale Securities | 24,788 | 32,868 |
Derivatives (trading and other assets) | 0 | 0 |
Financial liabilities | ||
Derivatives (liabilities) | 0 | 0 |
Other liabilities (2) | 0 | 0 |
Third party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | ||
Financial assets | ||
Available-for-sale Securities | 24,788 | 32,868 |
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 Securities | 24,788 | 32,868 |
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 Securities | 0 | 0 |
Third party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-Backed Securities [Member] | ||
Financial assets | ||
Available-for-sale Securities | 0 | 0 |
Third party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Other debt securities | ||
Financial assets | ||
Available-for-sale Securities | 0 | 0 |
Third party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | ||
Financial assets | ||
Available-for-sale Securities | 0 | 0 |
Third party pricing services [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial assets | ||
Trading assets (excluding derivatives) | 55 | 5 |
Available-for-sale Securities | 220,910 | 227,555 |
Derivatives (trading and other assets) | 210 | 224 |
Financial liabilities | ||
Derivatives (liabilities) | (209) | (221) |
Other liabilities (2) | (1) | (1) |
Third party pricing services [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | ||
Financial assets | ||
Available-for-sale Securities | 220,446 | 227,071 |
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 Securities | 3,151 | 3,382 |
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 Securities | 52,230 | 48,443 |
Third party pricing services [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-Backed Securities [Member] | ||
Financial assets | ||
Available-for-sale Securities | 115,117 | 126,525 |
Third party pricing services [Member] | Fair Value, Inputs, Level 2 [Member] | Other debt securities | ||
Financial assets | ||
Available-for-sale Securities | 49,948 | 48,721 |
Third party pricing services [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | ||
Financial assets | ||
Available-for-sale Securities | 464 | 484 |
Third party pricing services [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial assets | ||
Trading assets (excluding derivatives) | 0 | 0 |
Available-for-sale Securities | 382 | 469 |
Derivatives (trading and other assets) | 0 | 0 |
Financial liabilities | ||
Derivatives (liabilities) | 0 | 0 |
Other liabilities (2) | 0 | 0 |
Third party pricing services [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | ||
Financial assets | ||
Available-for-sale Securities | 382 | 469 |
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 Securities | 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 Securities | 49 | 51 |
Third party pricing services [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-Backed Securities [Member] | ||
Financial assets | ||
Available-for-sale Securities | 95 | 73 |
Third party pricing services [Member] | Fair Value, Inputs, Level 3 [Member] | Other debt securities | ||
Financial assets | ||
Available-for-sale Securities | 238 | 345 |
Third party pricing services [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | ||
Financial assets | ||
Available-for-sale Securities | $ 0 | $ 0 |
Fair Value, Assets and Liabilit
Fair Value, Assets and Liabilities Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading Securities, Change in Unrealized Holding Gain (Loss) | $ 1,100 | $ (470) | $ (1,000) |
Assets: | |||
Available-for-sale Securities | 253,006 | 267,358 | |
Mortgages held for sale | 20,241 | 13,539 | |
Loans | 5,032 | 5,316 | |
Mortgage servicing rights | 10,396 | 12,415 | |
Derivatives (trading and other assets) | 143,198 | 84,580 | |
Fair value asset derivatives, net | 20,999 | 17,656 | |
Other assets, carried at fair value | 3,046 | 3,065 | |
Liabilities: | |||
Total derivative liabilities | (131,702) | (79,924) | |
Fair value liability derivatives, net | (15,483) | (13,920) | |
Collateralized Debt Obligations [Member] | |||
Assets: | |||
Available-for-sale Securities | 719 | 257 | |
Interest rate contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 121,360 | 62,725 | |
Fair value asset derivatives, net | 10,624 | 6,113 | |
Liabilities: | |||
Total derivative liabilities | (110,820) | (57,977) | |
Fair value liability derivatives, net | (7,463) | (4,718) | |
Commodity contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 2,920 | 4,659 | |
Fair value asset derivatives, net | 2,015 | 3,661 | |
Liabilities: | |||
Total derivative liabilities | (3,282) | (5,519) | |
Fair value liability derivatives, net | (2,501) | (4,467) | |
Equity contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 7,350 | 7,599 | |
Fair value asset derivatives, net | 4,882 | 4,974 | |
Liabilities: | |||
Total derivative liabilities | (5,494) | (4,808) | |
Fair value liability derivatives, net | (3,275) | (2,567) | |
Foreign exchange contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 10,975 | 8,947 | |
Fair value asset derivatives, net | 3,328 | 2,806 | |
Liabilities: | |||
Total derivative liabilities | (11,454) | (10,933) | |
Fair value liability derivatives, net | (2,014) | (1,965) | |
Other contract [Member] | |||
Liabilities: | |||
Total derivative liabilities | (88) | (58) | |
Fair value liability derivatives, net | (88) | (58) | |
Fair Value, Measurements, Recurring [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 69,942 | 63,890 | |
Total trading assets (excluding derivatives) | 71,557 | 64,815 | |
Available-for-sale Securities | 253,006 | 267,358 | |
Mortgages held for sale | 20,241 | 13,539 | |
Loans | 5,032 | 5,316 | |
Mortgage servicing rights | 10,396 | 12,415 | |
Fair value asset derivatives, netting | (122,199) | (66,924) | |
Fair value asset derivatives, net | 20,999 | 17,656 | |
Other assets, carried at fair value | 3,046 | 3,065 | |
Investment Measured at NAV | 0 | 23 | |
Liabilities: | |||
Fair value liability derivatives, netting | 116,219 | 66,004 | |
Fair value liability derivatives, net | (15,483) | (13,920) | |
Total short sale liabilities | (16,949) | (15,670) | |
Other liabilities (2) | (5) | (30) | |
Total liabilities recorded at fair value | (32,437) | (29,620) | |
Fair Value, Measurements, Recurring [Member] | Interest rate contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 121,360 | 62,725 | |
Liabilities: | |||
Total derivative liabilities | (110,820) | (57,977) | |
Fair Value, Measurements, Recurring [Member] | Commodity contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 2,920 | 4,659 | |
Liabilities: | |||
Total derivative liabilities | (3,282) | (5,519) | |
Fair Value, Measurements, Recurring [Member] | Equity contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 7,350 | 7,599 | |
Liabilities: | |||
Total derivative liabilities | (5,494) | (4,808) | |
Fair Value, Measurements, Recurring [Member] | Foreign exchange contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 10,975 | 8,947 | |
Liabilities: | |||
Total derivative liabilities | (11,454) | (10,933) | |
Fair Value, Measurements, Recurring [Member] | Credit contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 593 | 650 | |
Liabilities: | |||
Total derivative liabilities | (564) | (629) | |
Fair Value, Measurements, Recurring [Member] | Other contract [Member] | |||
Liabilities: | |||
Total derivative liabilities | (88) | (58) | |
Fair Value, Measurements, Recurring [Member] | Debt Securities [Member] | |||
Assets: | |||
Available-for-sale Securities | 251,704 | 265,721 | |
Fair Value, Measurements, Recurring [Member] | Securities of U.S. Treasury and federal agencies [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 21,990 | 16,826 | |
Available-for-sale Securities | 27,939 | 36,250 | |
Liabilities: | |||
Total short sale liabilities | (10,237) | (9,695) | |
Fair Value, Measurements, Recurring [Member] | Securities of U.S. states and political subdivisions [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 2,450 | 1,675 | |
Available-for-sale Securities | 54,024 | 49,990 | |
Fair Value, Measurements, Recurring [Member] | Collateralized Loan Obligations [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 629 | 689 | |
Available-for-sale Securities | 34,281 | 30,967 | |
Fair Value, Measurements, Recurring [Member] | Corporate debt securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 8,422 | 7,965 | |
Available-for-sale Securities | 13,380 | 15,411 | |
Liabilities: | |||
Total short sale liabilities | (4,777) | (4,209) | |
Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 20,690 | 20,619 | |
Available-for-sale Securities | 115,806 | 127,192 | |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Assets: | |||
Available-for-sale Securities | 95,868 | 104,546 | |
Fair Value, Measurements, Recurring [Member] | Residential [Member] | |||
Assets: | |||
Available-for-sale Securities | 8,271 | 8,558 | |
Fair Value, Measurements, Recurring [Member] | Commercial [Member] | |||
Assets: | |||
Available-for-sale Securities | 11,667 | 14,088 | |
Fair Value, Measurements, Recurring [Member] | Asset-backed securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 939 | 1,005 | |
Available-for-sale Securities | 6,266 | 5,901 | |
Fair Value, Measurements, Recurring [Member] | Auto loans and leases [Member] | |||
Assets: | |||
Available-for-sale Securities | 12 | 15 | |
Fair Value, Measurements, Recurring [Member] | Home equity loans [Member] | |||
Assets: | |||
Available-for-sale Securities | 387 | 414 | |
Fair Value, Measurements, Recurring [Member] | Other asset-backed securities [Member] | |||
Assets: | |||
Available-for-sale Securities | 5,867 | 5,472 | |
Fair Value, Measurements, Recurring [Member] | Other trading assets [Member] | |||
Assets: | |||
Other trading assets | 1,615 | 925 | |
Fair Value, Measurements, Recurring [Member] | Other debt securities | |||
Assets: | |||
Available-for-sale Securities | 8 | 10 | |
Fair Value, Measurements, Recurring [Member] | Other short sale liabilities [Member] | |||
Liabilities: | |||
Total short sale liabilities | (97) | (70) | |
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 14,822 | 15,111 | |
Available-for-sale Securities | 1,302 | 1,637 | |
Liabilities: | |||
Total short sale liabilities | (1,838) | (1,696) | |
Fair Value, Measurements, Recurring [Member] | Perpetual preferred securities [Member] | |||
Assets: | |||
Available-for-sale Securities | 734 | 918 | |
Fair Value, Measurements, Recurring [Member] | Other marketable equity securities [Member] | |||
Assets: | |||
Available-for-sale Securities | 568 | 719 | |
Fair Value, Measurements, Recurring [Member] | Excluding NAV Investments [Member] | |||
Assets: | |||
Total assets recorded at fair value | 384,277 | 384,164 | |
Fair Value, Measurements, Recurring [Member] | Including NAV Investments [Member] | |||
Assets: | |||
Total assets recorded at fair value | 384,277 | 384,187 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 32,202 | 28,367 | |
Total trading assets (excluding derivatives) | 32,202 | 28,367 | |
Available-for-sale Securities | 25,688 | 34,075 | |
Mortgages 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 | 3,481 | 3,790 | |
Other assets, carried at fair value | 0 | 0 | |
Total assets recorded at fair value | 61,371 | 66,232 | |
Liabilities: | |||
Fair value liability derivatives, netting | 0 | 0 | |
Fair value liability derivatives, net | (1,100) | (782) | |
Total short sale liabilities | (11,148) | (10,313) | |
Other liabilities (2) | 0 | 0 | |
Total liabilities recorded at fair value | (12,248) | (11,095) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Interest rate contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 32 | 16 | |
Liabilities: | |||
Total derivative liabilities | (44) | (41) | |
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) | 3,401 | 3,726 | |
Liabilities: | |||
Total derivative liabilities | (1,006) | (704) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Foreign exchange contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 48 | 48 | |
Liabilities: | |||
Total derivative liabilities | (50) | (37) | |
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 Securities | 24,850 | 32,922 | |
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) | 17,551 | 13,357 | |
Available-for-sale Securities | 24,788 | 32,868 | |
Liabilities: | |||
Total short sale liabilities | (9,340) | (8,621) | |
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 Securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Collateralized Loan Obligations [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 0 | 0 | |
Available-for-sale Securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate debt securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 25 | 0 | |
Available-for-sale Securities | 62 | 54 | |
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 Securities | 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 Securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Residential [Member] | |||
Assets: | |||
Available-for-sale Securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Commercial [Member] | |||
Assets: | |||
Available-for-sale Securities | 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 Securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Auto loans and leases [Member] | |||
Assets: | |||
Available-for-sale Securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Home equity loans [Member] | |||
Assets: | |||
Available-for-sale Securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other asset-backed securities [Member] | |||
Assets: | |||
Available-for-sale Securities | 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 Securities | 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) | 14,626 | 15,010 | |
Available-for-sale Securities | 838 | 1,153 | |
Liabilities: | |||
Total short sale liabilities | (1,808) | (1,692) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Perpetual preferred securities [Member] | |||
Assets: | |||
Available-for-sale Securities | 270 | 434 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other marketable equity securities [Member] | |||
Assets: | |||
Available-for-sale Securities | 568 | 719 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 37,448 | 35,116 | |
Total trading assets (excluding derivatives) | 39,030 | 36,007 | |
Available-for-sale Securities | 222,891 | 229,557 | |
Mortgages held for sale | 19,157 | 12,457 | |
Loans | 0 | 0 | |
Mortgage servicing rights | 0 | 0 | |
Fair value asset derivatives, netting | 0 | 0 | |
Fair value asset derivatives, net | 137,662 | 79,194 | |
Other assets, carried at fair value | 8 | 0 | |
Total assets recorded at fair value | 418,748 | 357,215 | |
Liabilities: | |||
Fair value liability derivatives, netting | 0 | 0 | |
Fair value liability derivatives, net | (128,979) | (77,674) | |
Total short sale liabilities | (5,801) | (5,357) | |
Other liabilities (2) | 0 | 0 | |
Total liabilities recorded at fair value | (134,780) | (83,031) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest rate contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 120,614 | 62,390 | |
Liabilities: | |||
Total derivative liabilities | (110,752) | (57,905) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commodity contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 2,892 | 4,623 | |
Liabilities: | |||
Total derivative liabilities | (3,275) | (5,495) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Equity contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 2,932 | 2,907 | |
Liabilities: | |||
Total derivative liabilities | (3,219) | (3,027) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Foreign exchange contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 10,927 | 8,899 | |
Liabilities: | |||
Total derivative liabilities | (11,404) | (10,896) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Credit contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 297 | 375 | |
Liabilities: | |||
Total derivative liabilities | (329) | (351) | |
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 Securities | 222,427 | 229,073 | |
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) | 4,439 | 3,469 | |
Available-for-sale Securities | 3,151 | 3,382 | |
Liabilities: | |||
Total short sale liabilities | (897) | (1,074) | |
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) | 2,443 | 1,667 | |
Available-for-sale Securities | 52,231 | 48,490 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Collateralized Loan Obligations [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 380 | 346 | |
Available-for-sale Securities | 33,330 | 30,402 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate debt securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 8,361 | 7,909 | |
Available-for-sale Securities | 12,847 | 14,952 | |
Liabilities: | |||
Total short sale liabilities | (4,777) | (4,209) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-Backed Securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 20,690 | 20,619 | |
Available-for-sale Securities | 115,711 | 127,118 | |
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 Securities | 95,868 | 104,546 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Residential [Member] | |||
Assets: | |||
Available-for-sale Securities | 8,270 | 8,557 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commercial [Member] | |||
Assets: | |||
Available-for-sale Securities | 11,573 | 14,015 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Asset-backed securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 939 | 1,005 | |
Available-for-sale Securities | 5,149 | 4,719 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Auto loans and leases [Member] | |||
Assets: | |||
Available-for-sale Securities | 12 | 15 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Home equity loans [Member] | |||
Assets: | |||
Available-for-sale Securities | 387 | 414 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other asset-backed securities [Member] | |||
Assets: | |||
Available-for-sale Securities | 4,750 | 4,290 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other trading assets [Member] | |||
Assets: | |||
Other trading assets | 1,582 | 891 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other debt securities | |||
Assets: | |||
Available-for-sale Securities | 8 | 10 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other short sale liabilities [Member] | |||
Liabilities: | |||
Total short sale liabilities | (97) | (70) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 196 | 101 | |
Available-for-sale Securities | 464 | 484 | |
Liabilities: | |||
Total short sale liabilities | (30) | (4) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Perpetual preferred securities [Member] | |||
Assets: | |||
Available-for-sale Securities | 464 | 484 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other marketable equity securities [Member] | |||
Assets: | |||
Available-for-sale Securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 292 | 407 | |
Total trading assets (excluding derivatives) | 325 | 441 | |
Available-for-sale Securities | 4,427 | 3,726 | |
Mortgages held for sale | 1,084 | 1,082 | |
Loans | 5,032 | 5,316 | |
Mortgage servicing rights | 10,396 | 12,415 | |
Fair value asset derivatives, netting | 0 | 0 | |
Fair value asset derivatives, net | 2,055 | 1,596 | |
Other assets, carried at fair value | 3,038 | 3,065 | |
Total assets recorded at fair value | 26,357 | 27,641 | |
Liabilities: | |||
Fair value liability derivatives, netting | 0 | 0 | |
Fair value liability derivatives, net | (1,623) | (1,468) | |
Total short sale liabilities | 0 | 0 | |
Other liabilities (2) | (5) | (30) | |
Total liabilities recorded at fair value | (1,628) | (1,498) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest rate contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 714 | 319 | |
Liabilities: | |||
Total derivative liabilities | (24) | (31) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commodity contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 28 | 36 | |
Liabilities: | |||
Total derivative liabilities | (7) | (24) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 1,017 | 966 | |
Liabilities: | |||
Total derivative liabilities | (1,269) | (1,077) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Foreign exchange 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 3 [Member] | Credit contract [Member] | |||
Assets: | |||
Derivatives (trading and other assets) | 296 | 275 | |
Liabilities: | |||
Total derivative liabilities | (235) | (278) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other contract [Member] | |||
Liabilities: | |||
Total derivative liabilities | (88) | (58) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | |||
Assets: | |||
Available-for-sale Securities | 4,427 | 3,726 | |
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 Securities | 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) | 7 | 8 | |
Available-for-sale Securities | 1,793 | 1,500 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Collateralized Loan Obligations [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 249 | 343 | |
Available-for-sale Securities | 951 | 565 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate debt securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 36 | 56 | |
Available-for-sale Securities | 471 | 405 | |
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 Securities | 95 | 74 | |
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 Securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Residential [Member] | |||
Assets: | |||
Available-for-sale Securities | 1 | 1 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial [Member] | |||
Assets: | |||
Available-for-sale Securities | 94 | 73 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Asset-backed securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 0 | 0 | |
Available-for-sale Securities | 1,117 | 1,182 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Auto loans and leases [Member] | |||
Assets: | |||
Available-for-sale Securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Home equity loans [Member] | |||
Assets: | |||
Available-for-sale Securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other asset-backed securities [Member] | |||
Assets: | |||
Available-for-sale Securities | 1,117 | 1,182 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other trading assets [Member] | |||
Assets: | |||
Other trading assets | 33 | 34 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other debt securities | |||
Assets: | |||
Available-for-sale Securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other short sale liabilities [Member] | |||
Liabilities: | |||
Total short sale liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | |||
Assets: | |||
Trading assets (excluding derivatives) | 0 | 0 | |
Available-for-sale Securities | 0 | 0 | |
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 Securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other marketable equity securities [Member] | |||
Assets: | |||
Available-for-sale Securities | $ 0 | $ 0 |
Fair Value, Transfers Between F
Fair Value, Transfers Between Fair Value Levels (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
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 |
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 | 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 | 3 | 15 |
Transfer Out | (4) | 0 | (4) | (3) |
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 | 4 | 16 |
Transfer Out | (4) | 0 | (4) | (3) |
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 | 0 |
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] | 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 | 0 | (1) | (1) |
Transfer Out | 0 | 0 | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||||
Transfer In | 15 | 511 | 90 | 674 |
Transfer Out | (28) | (53) | (165) | (98) |
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 | 4 | 83 | 15 | 93 |
Transfer Out | 0 | 0 | (4) | (16) |
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 | 16 | 24 | 16 | 76 |
Transfer Out | 0 | 0 | (80) | 0 |
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 | 7 | 386 | 9 | 453 |
Transfer Out | (25) | (53) | (54) | (95) |
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 | (12) | 18 | 50 | 52 |
Transfer Out | (3) | 0 | (28) | 12 |
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 | 0 | 0 | 0 | 0 |
Transfer Out | 0 | 0 | 1 | 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 | 28 | 53 | 162 | 84 |
Transfer Out | (11) | (511) | (86) | (672) |
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 | 0 | 0 | 0 | 1 |
Transfer Out | 0 | (83) | (11) | (91) |
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 | 80 | 0 |
Transfer Out | (16) | (24) | (16) | (76) |
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 | 25 | 53 | 54 | 95 |
Transfer Out | (7) | (386) | (9) | (453) |
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 | 3 | 0 | 28 | (12) |
Transfer Out | 12 | (18) | (50) | (52) |
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 | 0 | 0 |
Transfer Out | $ 0 | $ 0 | $ 0 | $ 0 |
Fair Value, Assets and Liabi112
Fair Value, Assets and Liabilities Measured on Recurring Basis Level 3 Reconciliation (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Trading securities and trading assets, excluding derivatives [Member] | ||||
Assets: | ||||
Balance, beginning of period | $ 341 | $ 573 | $ 441 | $ 650 |
Net gains (losses) included in net income | (1) | 21 | (33) | 66 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (15) | 0 | (72) | (115) |
Transfers into Level 3 | 0 | 0 | 0 | 1 |
Transfers out of Level 3 | 0 | (83) | (11) | (91) |
Balance, end of period | 325 | 511 | 325 | 511 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (3) | 14 | (28) | 15 |
Trading assets (excluding derivatives) [Member] | ||||
Assets: | ||||
Balance, beginning of period | 309 | 509 | 407 | 595 |
Net gains (losses) included in net income | (2) | 22 | (32) | 61 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (15) | 1 | (72) | (117) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | (83) | (11) | (90) |
Balance, end of period | 292 | 449 | 292 | 449 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (6) | 13 | (31) | 6 |
Trading assets (excluding derivatives) [Member] | Securities of U.S. states and political subdivisions [Member] | ||||
Assets: | ||||
Balance, beginning of period | 8 | 6 | 8 | 7 |
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) | 2 | (1) | 1 |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 7 | 8 | 7 | 8 |
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 | 0 | 0 | 0 |
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 | 0 | 0 | 0 |
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 |
Trading assets (excluding derivatives) [Member] | Collateralized Loan Obligations [Member] | ||||
Assets: | ||||
Balance, beginning of period | 268 | 381 | 343 | 445 |
Net gains (losses) included in net income | 1 | 21 | (24) | 42 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (20) | 5 | (59) | (80) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | (11) | 0 |
Balance, end of period | 249 | 407 | 249 | 407 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (4) | 13 | (25) | 7 |
Trading assets (excluding derivatives) [Member] | Corporate debt securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 33 | 31 | 56 | 54 |
Net gains (losses) included in net income | (3) | 0 | (8) | 2 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 6 | 4 | (12) | (14) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | (2) | 0 | (9) |
Balance, end of period | 36 | 33 | 36 | 33 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (2) | 0 | (6) | (1) |
Trading assets (excluding derivatives) [Member] | Asset-backed securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 0 | 81 | 0 | 79 |
Net gains (losses) included in net income | 0 | 0 | 0 | 16 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 0 | 0 | (14) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | (81) | 0 | (81) |
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 |
Trading assets (excluding derivatives) [Member] | Equity Securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 0 | 10 | 0 | 10 |
Net gains (losses) included in net income | 0 | 1 | 0 | 1 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | (10) | 0 | (10) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 0 | 1 | 0 | 1 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | 0 |
Other trading assets [Member] | ||||
Assets: | ||||
Balance, beginning of period | 32 | 64 | 34 | 55 |
Net gains (losses) included in net income | 1 | (1) | (1) | 5 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | (1) | 0 | 2 |
Transfers into Level 3 | 0 | 0 | 0 | 1 |
Transfers out of Level 3 | 0 | 0 | 0 | (1) |
Balance, end of period | 33 | 62 | 33 | 62 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 3 | 1 | 3 | 9 |
Mortgages held for sale [Member] | ||||
Assets: | ||||
Balance, beginning of period | 1,071 | 2,098 | 1,082 | 2,313 |
Net gains (losses) included in net income | 6 | (1) | 30 | 37 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (11) | (141) | (73) | (369) |
Transfers into Level 3 | 25 | 53 | 54 | 95 |
Transfers out of Level 3 | (7) | (386) | (9) | (453) |
Balance, end of period | 1,084 | 1,623 | 1,084 | 1,623 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 6 | (8) | 27 | 6 |
Loans [Member] | ||||
Assets: | ||||
Balance, beginning of period | 5,221 | 5,730 | 5,316 | 5,788 |
Net gains (losses) included in net income | (3) | (41) | (4) | (47) |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (186) | (38) | (280) | (90) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 5,032 | 5,651 | 5,032 | 5,651 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (4) | (37) | (6) | (37) |
Mortgage servicing rights [Member] | ||||
Assets: | ||||
Balance, beginning of period | 11,333 | 11,739 | 12,415 | 12,738 |
Net gains (losses) included in net income | (1,392) | 499 | (2,840) | (807) |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 455 | 423 | 821 | 730 |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 10,396 | 12,661 | 10,396 | 12,661 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (824) | 1,053 | (1,781) | 280 |
Derivative [Member] | ||||
Assets and Liabilities: | ||||
Balance, beginning of period | 152 | 44 | 128 | (23) |
Net gains (losses) included in net income | 665 | 20 | 1,252 | 484 |
Total net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (400) | (131) | (926) | (482) |
Transfers into Level 3 | 3 | 0 | 28 | (12) |
Transfers out of Level 3 | 12 | (18) | (50) | (52) |
Balance, end of period | 432 | (85) | 432 | (85) |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 345 | 59 | 285 | 45 |
Derivative [Member] | Interest rate contract [Member] | ||||
Assets and Liabilities: | ||||
Balance, beginning of period | 501 | 438 | 288 | 293 |
Net gains (losses) included in net income | 660 | (57) | 1,259 | 425 |
Total net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (471) | (129) | (850) | (466) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | (7) | 0 |
Balance, end of period | 690 | 252 | 690 | 252 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 357 | 8 | 458 | 57 |
Derivative [Member] | Commodity contract [Member] | ||||
Assets and Liabilities: | ||||
Balance, beginning of period | 11 | (2) | 12 | 1 |
Net gains (losses) included in net income | 6 | 3 | 8 | 2 |
Total net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 1 | 2 | (2) | 2 |
Transfers into Level 3 | 3 | 0 | 3 | (2) |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 21 | 3 | 21 | 3 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 9 | 3 | 13 | 1 |
Derivative [Member] | Equity contract [Member] | ||||
Assets and Liabilities: | ||||
Balance, beginning of period | (283) | (186) | (111) | (84) |
Net gains (losses) included in net income | 9 | 57 | 7 | 50 |
Total net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 10 | (38) | (130) | (89) |
Transfers into Level 3 | 0 | 0 | 25 | (10) |
Transfers out of Level 3 | 12 | (18) | (43) | (52) |
Balance, end of period | (252) | (185) | (252) | (185) |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (7) | 43 | (160) | (14) |
Derivative [Member] | Credit contract [Member] | ||||
Assets and Liabilities: | ||||
Balance, beginning of period | 0 | (154) | (3) | (189) |
Net gains (losses) included in net income | (1) | 3 | 8 | 1 |
Total net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 62 | 34 | 56 | 71 |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 61 | (117) | 61 | (117) |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (4) | (9) | 4 | (5) |
Derivative [Member] | Other contract [Member] | ||||
Assets and Liabilities: | ||||
Balance, beginning of period | (77) | (52) | (58) | (44) |
Net gains (losses) included in net income | (9) | 14 | (30) | 6 |
Total net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (2) | 0 | 0 | 0 |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | (88) | (38) | (88) | (38) |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (10) | 14 | (30) | 6 |
Other assets [Member] | ||||
Assets: | ||||
Balance, beginning of period | 3,097 | 2,549 | 3,065 | 2,512 |
Net gains (losses) included in net income | (181) | (9) | (238) | 28 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 122 | 96 | 211 | 96 |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 3,038 | 2,636 | 3,038 | 2,636 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (181) | (8) | (239) | 29 |
Short sale liabilities [Member] | ||||
Liabilities: | ||||
Balance, beginning of period | 0 | (15) | 0 | (6) |
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 | 14 | 0 | 5 |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 0 | (1) | 0 | (1) |
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 | (5) | (27) | (30) | (28) |
Net gains (losses) included in net income | 0 | (3) | 0 | (2) |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 0 | 25 | 0 |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | (5) | (30) | (5) | (30) |
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] | ||||
Assets: | ||||
Balance, beginning of period | 4,037 | 5,544 | 3,726 | 6,029 |
Net gains (losses) included in net income | 16 | 40 | 34 | 77 |
Net gains (losses) included in other comprehensive income | 7 | 2 | 5 | (33) |
Purchases, sales, issuances and settlements, net | 383 | (92) | 598 | (527) |
Transfers into Level 3 | 0 | 0 | 80 | 0 |
Transfers out of Level 3 | (16) | (664) | (16) | (716) |
Balance, end of period | 4,427 | 4,830 | 4,427 | 4,830 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (4) | 2 | (4) | (3) |
Available-for-sale securities [Member] | Debt Securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 4,037 | 4,904 | 3,726 | 5,366 |
Net gains (losses) included in net income | 16 | 40 | 34 | 74 |
Net gains (losses) included in other comprehensive income | 7 | 2 | 5 | (31) |
Purchases, sales, issuances and settlements, net | 383 | (92) | 598 | (503) |
Transfers into Level 3 | 0 | 0 | 80 | 0 |
Transfers out of Level 3 | (16) | (24) | (16) | (76) |
Balance, end of period | 4,427 | 4,830 | 4,427 | 4,830 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (4) | 2 | (4) | (3) |
Available-for-sale securities [Member] | Securities of U.S. states and political subdivisions [Member] | ||||
Assets: | ||||
Balance, beginning of period | 1,457 | 1,980 | 1,500 | 2,277 |
Net gains (losses) included in net income | 3 | 4 | 4 | 3 |
Net gains (losses) included in other comprehensive income | 1 | (12) | 4 | (15) |
Purchases, sales, issuances and settlements, net | 348 | (59) | 221 | (300) |
Transfers into Level 3 | 0 | 0 | 80 | 0 |
Transfers out of Level 3 | (16) | (24) | (16) | (76) |
Balance, end of period | 1,793 | 1,889 | 1,793 | 1,889 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | (5) |
Available-for-sale securities [Member] | Mortgage-Backed Securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 74 | 104 | 74 | 133 |
Net gains (losses) included in net income | 0 | 0 | 0 | 5 |
Net gains (losses) included in other comprehensive income | 0 | (1) | 0 | (8) |
Purchases, sales, issuances and settlements, net | 21 | 0 | 21 | (27) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 95 | 103 | 95 | 103 |
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] | Residential [Member] | ||||
Assets: | ||||
Balance, beginning of period | 1 | 0 | 1 | 24 |
Net gains (losses) included in net income | 0 | 0 | 0 | 4 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | (6) |
Purchases, sales, issuances and settlements, net | 0 | 0 | 0 | (22) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 1 | 0 | 1 | 0 |
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 | 73 | 104 | 73 | 109 |
Net gains (losses) included in net income | 0 | 0 | 0 | 1 |
Net gains (losses) included in other comprehensive income | 0 | (1) | 0 | (2) |
Purchases, sales, issuances and settlements, net | 21 | 0 | 21 | (5) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 94 | 103 | 94 | 103 |
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] | Collateralized Loan Obligations [Member] | ||||
Assets: | ||||
Balance, beginning of period | 813 | 1,053 | 565 | 1,087 |
Net gains (losses) included in net income | 8 | 32 | 23 | 61 |
Net gains (losses) included in other comprehensive income | 4 | 5 | (20) | (11) |
Purchases, sales, issuances and settlements, net | 126 | (166) | 383 | (213) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 951 | 924 | 951 | 924 |
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] | Corporate debt securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 453 | 312 | 405 | 252 |
Net gains (losses) included in net income | 3 | 3 | 5 | 3 |
Net gains (losses) included in other comprehensive income | 9 | (3) | 28 | (3) |
Purchases, sales, issuances and settlements, net | 6 | 22 | 33 | 82 |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 471 | 334 | 471 | 334 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 2 | 0 | 2 |
Available-for-sale securities [Member] | Asset-backed securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 1,240 | 1,455 | 1,182 | 1,617 |
Net gains (losses) included in net income | 2 | 1 | 2 | 2 |
Net gains (losses) included in other comprehensive income | (7) | 13 | (7) | 6 |
Purchases, sales, issuances and settlements, net | (118) | 111 | (60) | (45) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 1,117 | 1,580 | 1,117 | 1,580 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (4) | 0 | (4) | 0 |
Available-for-sale securities [Member] | Auto loans and leases [Member] | ||||
Assets: | ||||
Balance, beginning of period | 0 | 249 | 0 | 245 |
Net gains (losses) included in net income | 0 | 0 | 0 | 0 |
Net gains (losses) included in other comprehensive income | 0 | 11 | 0 | 15 |
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 | 0 | 260 | 0 | 260 |
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 | 1,240 | 1,206 | 1,182 | 1,372 |
Net gains (losses) included in net income | 2 | 1 | 2 | 2 |
Net gains (losses) included in other comprehensive income | (7) | 2 | (7) | (9) |
Purchases, sales, issuances and settlements, net | (118) | 111 | (60) | (45) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 1,117 | 1,320 | 1,117 | 1,320 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (4) | 0 | (4) | 0 |
Available-for-sale securities [Member] | Equity Securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 0 | 640 | 0 | 663 |
Net gains (losses) included in net income | 0 | 0 | 0 | 3 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | (2) |
Purchases, sales, issuances and settlements, net | 0 | 0 | 0 | (24) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | (640) | 0 | (640) |
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 |
Available-for-sale securities [Member] | Perpetual preferred securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 0 | 640 | 0 | 663 |
Net gains (losses) included in net income | 0 | 0 | 0 | 3 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | (2) |
Purchases, sales, issuances and settlements, net | 0 | 0 | 0 | (24) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | (640) | 0 | (640) |
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 |
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 | 0 |
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 | 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 Liabi113
Fair Value, Assets and Liabilities Measured on Recurring Basis Level 3 Reconciliation Breakout (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Trading securities and trading assets, excluding derivatives [Member] | ||||
Assets: | ||||
Purchases | $ 146 | $ 523 | $ 205 | $ 941 |
Sales | (160) | (513) | (276) | (1,037) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (1) | (10) | (1) | (19) |
Net | (15) | 0 | (72) | (115) |
Trading assets (excluding derivatives) [Member] | ||||
Assets: | ||||
Purchases | 146 | 523 | 205 | 938 |
Sales | (160) | (512) | (276) | (1,036) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (1) | (10) | (1) | (19) |
Net | (15) | 1 | (72) | (117) |
Trading assets (excluding derivatives) [Member] | Securities of U.S. states and political subdivisions [Member] | ||||
Assets: | ||||
Purchases | 2 | 3 | 2 | 3 |
Sales | (2) | (1) | (2) | (2) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (1) | 0 | (1) | 0 |
Net | (1) | 2 | (1) | 1 |
Trading assets (excluding derivatives) [Member] | Mortgage-Backed Securities [Member] | ||||
Assets: | ||||
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 |
Trading assets (excluding derivatives) [Member] | Collateralized Loan Obligations [Member] | ||||
Assets: | ||||
Purchases | 134 | 508 | 190 | 908 |
Sales | (154) | (503) | (249) | (988) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Net | (20) | 5 | (59) | (80) |
Trading assets (excluding derivatives) [Member] | Corporate debt securities [Member] | ||||
Assets: | ||||
Purchases | 10 | 12 | 13 | 27 |
Sales | (4) | (8) | (25) | (41) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Net | 6 | 4 | (12) | (14) |
Trading assets (excluding derivatives) [Member] | Asset-backed securities [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | (5) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | (9) |
Net | 0 | 0 | 0 | (14) |
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 | (10) | 0 | (10) |
Net | 0 | (10) | 0 | (10) |
Other trading assets [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 3 |
Sales | 0 | (1) | 0 | (1) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Net | 0 | (1) | 0 | 2 |
Available-for-sale securities [Member] | ||||
Assets: | ||||
Purchases | 216 | 51 | 573 | 155 |
Sales | (39) | (128) | (39) | (179) |
Issuances | 497 | 418 | 673 | 532 |
Settlements | (291) | (433) | (609) | (1,035) |
Net | 383 | (92) | 598 | (527) |
Available-for-sale securities [Member] | Debt Securities [Member] | ||||
Assets: | ||||
Purchases | 216 | 51 | 573 | 155 |
Sales | (39) | (128) | (39) | (179) |
Issuances | 497 | 418 | 673 | 532 |
Settlements | (291) | (433) | (609) | (1,011) |
Net | 383 | (92) | 598 | (503) |
Available-for-sale securities [Member] | Securities of U.S. states and political subdivisions [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 28 | 0 |
Sales | (7) | (21) | (7) | (41) |
Issuances | 459 | 239 | 475 | 294 |
Settlements | (104) | (277) | (275) | (553) |
Net | 348 | (59) | 221 | (300) |
Available-for-sale securities [Member] | Mortgage-Backed Securities [Member] | ||||
Assets: | ||||
Purchases | 22 | 0 | 22 | 0 |
Sales | 0 | 0 | 0 | (27) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (1) | 0 | (1) | 0 |
Net | 21 | 0 | 21 | (27) |
Available-for-sale securities [Member] | Residential [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | (22) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Net | 0 | 0 | 0 | (22) |
Available-for-sale securities [Member] | Commercial [Member] | ||||
Assets: | ||||
Purchases | 22 | 0 | 22 | 0 |
Sales | 0 | 0 | 0 | (5) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (1) | 0 | (1) | 0 |
Net | 21 | 0 | 21 | (5) |
Available-for-sale securities [Member] | Collateralized Loan Obligations [Member] | ||||
Assets: | ||||
Purchases | 188 | 15 | 489 | 59 |
Sales | (4) | (99) | (4) | (102) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (58) | (82) | (102) | (170) |
Net | 126 | (166) | 383 | (213) |
Available-for-sale securities [Member] | Corporate debt securities [Member] | ||||
Assets: | ||||
Purchases | 6 | 36 | 34 | 96 |
Sales | 0 | (8) | 0 | (8) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | (6) | (1) | (6) |
Net | 6 | 22 | 33 | 82 |
Available-for-sale securities [Member] | Asset-backed securities [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | (28) | 0 | (28) | (1) |
Issuances | 38 | 179 | 198 | 238 |
Settlements | (128) | (68) | (230) | (282) |
Net | (118) | 111 | (60) | (45) |
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 | 0 |
Net | 0 | 0 | 0 | 0 |
Available-for-sale securities [Member] | Other asset-backed securities [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | (28) | 0 | (28) | (1) |
Issuances | 38 | 179 | 198 | 238 |
Settlements | (128) | (68) | (230) | (282) |
Net | (118) | 111 | (60) | (45) |
Available-for-sale securities [Member] | Equity Securities [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | (24) |
Net | 0 | 0 | 0 | (24) |
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 | 0 | 0 | (24) |
Net | 0 | 0 | 0 | (24) |
Available-for-sale securities [Member] | Equity Securities, Other 1 [Member] | ||||
Assets: | ||||
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 |
Mortgages held for sale [Member] | ||||
Assets: | ||||
Purchases | 22 | 67 | 44 | 120 |
Sales | (152) | (332) | (311) | (623) |
Issuances | 164 | 226 | 282 | 346 |
Settlements | (45) | (102) | (88) | (212) |
Net | (11) | (141) | (73) | (369) |
Loans [Member] | ||||
Assets: | ||||
Purchases | 8 | 1 | 12 | 67 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 84 | 99 | 172 | 194 |
Settlements | (278) | (138) | (464) | (351) |
Net | (186) | (38) | (280) | (90) |
Mortgage servicing rights [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | (22) | 0 | (22) | (1) |
Issuances | 477 | 428 | 843 | 736 |
Settlements | 0 | (5) | 0 | (5) |
Net | 455 | 423 | 821 | 730 |
Derivative [Member] | ||||
Assets and Liabilities: | ||||
Purchases | 16 | 19 | 32 | 21 |
Sales | 0 | (41) | (147) | (73) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (416) | (109) | (811) | (430) |
Net | (400) | (131) | (926) | (482) |
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 | (471) | (129) | (850) | (466) |
Net | (471) | (129) | (850) | (466) |
Derivative [Member] | Commodity contract [Member] | ||||
Assets and Liabilities: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 1 | 2 | (2) | 2 |
Net | 1 | 2 | (2) | 2 |
Derivative [Member] | Equity contract [Member] | ||||
Assets and Liabilities: | ||||
Purchases | 16 | 15 | 29 | 15 |
Sales | 1 | (39) | (146) | (71) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (7) | (14) | (13) | (33) |
Net | 10 | (38) | (130) | (89) |
Derivative [Member] | Credit contract [Member] | ||||
Assets and Liabilities: | ||||
Purchases | 0 | 4 | 3 | 6 |
Sales | (1) | (2) | (1) | (2) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 63 | 32 | 54 | 67 |
Net | 62 | 34 | 56 | 71 |
Derivative [Member] | Other contract [Member] | ||||
Assets and Liabilities: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (2) | 0 | 0 | 0 |
Net | (2) | 0 | 0 | 0 |
Other assets [Member] | ||||
Assets: | ||||
Purchases | 122 | 96 | 211 | 96 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Net | 122 | 96 | 211 | 96 |
Short sale liabilities [Member] | ||||
Liabilities: | ||||
Purchases | 0 | 14 | 0 | 20 |
Sales | 0 | 0 | 0 | (15) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Net | 0 | 14 | 0 | 5 |
Other liabilities [Member] | ||||
Liabilities: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 25 | 0 |
Net | $ 0 | $ 0 | $ 25 | $ 0 |
Fair Value, Assets and Liabi114
Fair Value, Assets and Liabilities Measured on a Recurring Basis Level 3 Valuation Techniques and Significant Unobservable Inputs (Details) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016USD ($)$ / loan | Dec. 31, 2015USD ($)$ / loan | |
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | $ 253,006 | $ 267,358 |
Mortgages held for sale, carried at fair value | 20,241 | 13,539 |
Loans | 5,032 | 5,316 |
Mortgage servicing rights | 10,396 | 12,415 |
Fair Value Inputs [Abstract] | ||
Aggregate Fair Value Of Derivative Loan Commitments Net Asset (Liability) | $ 285 | $ 56 |
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) | (0.259%) | (0.306%) |
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) | 1.326% | 1.27% |
Derivative Loan Commitments [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Fall-out factor | 23.50% | 18.80% |
Initial-value servicing (in bps) | 0.636% | 0.415% |
Interest rate contract [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Prepayment rate | 2.80% | 0.30% |
Loss severity | 50.00% | 50.00% |
Default rate | 0.10% | 0.10% |
Interest rate contract [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Prepayment rate | 12.50% | 2.50% |
Loss severity | 50.00% | 50.00% |
Default rate | 9.60% | 9.60% |
Interest rate contract [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Prepayment rate | 9.70% | 2.20% |
Loss severity | 50.00% | 50.00% |
Default rate | 2.50% | 2.60% |
Equity contract [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Weighted average life | 2 years | 6 months |
Conversion factor | (10.80%) | (10.60%) |
Equity contract [Member] | Minimum [Member] | Option model [Member] | ||
Fair Value Inputs [Abstract] | ||
Volatility factor | 6.50% | 6.50% |
Correlation factor | (77.00%) | (77.00%) |
Equity contract [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Weighted average life | 3 years 6 months | 2 years |
Conversion factor | 0.00% | 0.00% |
Equity contract [Member] | Maximum [Member] | Option model [Member] | ||
Fair Value Inputs [Abstract] | ||
Volatility factor | 100.00% | 91.30% |
Correlation factor | 98.50% | 98.50% |
Equity contract [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Weighted average life | 2 years 5 months | 1 year 6 months |
Conversion factor | (8.00%) | (8.10%) |
Equity contract [Member] | Weighted Average [Member] | Option model [Member] | ||
Fair Value Inputs [Abstract] | ||
Volatility factor | 26.80% | 24.20% |
Correlation factor | 46.30% | 66.00% |
Credit contract [Member] | Minimum [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | (24.10%) | (53.60%) |
Credit contract [Member] | Minimum [Member] | Option model [Member] | ||
Fair Value Inputs [Abstract] | ||
Loss severity | 13.00% | 13.00% |
Credit spread | 0.00% | 0.00% |
Credit contract [Member] | Maximum [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | 21.70% | 18.20% |
Credit contract [Member] | Maximum [Member] | Option model [Member] | ||
Fair Value Inputs [Abstract] | ||
Loss severity | 60.00% | 73.00% |
Credit spread | 8.90% | 19.90% |
Credit contract [Member] | Weighted Average [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | 0.20% | (0.60%) |
Credit contract [Member] | Weighted Average [Member] | Option model [Member] | ||
Fair Value Inputs [Abstract] | ||
Loss severity | 51.10% | 49.60% |
Credit spread | 1.40% | 1.60% |
Government, healthcare and other revenue bonds [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 0.70% | 0.80% |
Government, healthcare and other revenue bonds [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 4.80% | 5.60% |
Government, healthcare and other revenue bonds [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 1.40% | 1.90% |
Auction rate and other municipal bonds [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 0.90% | 0.80% |
Weighted average life | 2 years 4 months | 1 year |
Auction rate and other municipal bonds [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 4.80% | 4.50% |
Weighted average life | 17 years 7 months | 10 years |
Auction rate and other municipal bonds [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 2.80% | 2.00% |
Weighted average life | 8 years 2 months | 4 years 8 months 12 days |
Collateralized Loan Obligations [Member] | Minimum [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | (18.00%) | (20.00%) |
Collateralized Loan Obligations [Member] | Maximum [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | 19.80% | 20.30% |
Collateralized Loan Obligations [Member] | Weighted Average [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | 2.80% | 2.90% |
Diversified payment rights [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 1.10% | 1.00% |
Diversified payment rights [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 3.80% | 5.00% |
Diversified payment rights [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 2.40% | 3.20% |
Other commercial and consumer [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 2.50% | 2.50% |
Weighted average life | 1 year 1 month | 1 year |
Other commercial and consumer [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 5.40% | 6.30% |
Weighted average life | 8 years 4 months | 9 years 4 months 25 days |
Other commercial and consumer [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 3.00% | 3.80% |
Weighted average life | 3 years 2 months | 4 years 3 months 18 days |
Mortgages held for sale [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 1.10% | 1.10% |
Prepayment rate | 8.30% | 2.60% |
Loss severity | 0.00% | 0.10% |
Default rate | 0.50% | 0.50% |
Mortgages held for sale [Member] | Minimum [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | (53.30%) | (53.30%) |
Mortgages held for sale [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 6.60% | 6.30% |
Prepayment rate | 15.50% | 9.60% |
Loss severity | 39.80% | 22.70% |
Default rate | 11.50% | 13.70% |
Mortgages held for sale [Member] | Maximum [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | 0.00% | 0.00% |
Mortgages held for sale [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 4.70% | 4.70% |
Prepayment rate | 10.90% | 6.40% |
Loss severity | 21.30% | 11.20% |
Default rate | 2.20% | 3.60% |
Mortgages held for sale [Member] | Weighted Average [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | (33.90%) | (32.60%) |
Loans [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 0.00% | 0.00% |
Prepayment rate | 0.50% | 0.20% |
Utilization rate | 0.00% | 0.00% |
Loans [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 3.10% | 3.90% |
Prepayment rate | 100.00% | 100.00% |
Utilization rate | 0.80% | 0.80% |
Loans [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 2.60% | 3.10% |
Prepayment rate | 18.40% | 14.60% |
Utilization rate | 0.30% | 0.30% |
Residential mortgage servicing rights [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 5.70% | 6.80% |
Prepayment rate | 10.80% | 10.10% |
Cost to service per loan | $ / loan | 70 | 70 |
Residential mortgage servicing rights [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 10.80% | 11.80% |
Prepayment rate | 23.30% | 18.90% |
Cost to service per loan | $ / loan | 572 | 599 |
Residential mortgage servicing rights [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 6.20% | 7.30% |
Prepayment rate | 13.60% | 11.40% |
Cost to service per loan | $ / loan | 162 | 168 |
Other assets: nonmarketable equity investments [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 5.00% | |
Other assets: nonmarketable equity investments [Member] | Minimum [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | (23.90%) | (19.10%) |
Other assets: nonmarketable equity investments [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 10.30% | |
Other assets: nonmarketable equity investments [Member] | Maximum [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | (7.10%) | (5.50%) |
Other assets: nonmarketable equity investments [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 6.00% | |
Other assets: nonmarketable equity investments [Member] | Weighted Average [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | (17.80%) | (15.10%) |
Recurring [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ (32,437) | $ (29,620) |
Available-for-sale Securities | 253,006 | 267,358 |
Mortgages held for sale, carried at fair value | 20,241 | 13,539 |
Loans | 5,032 | 5,316 |
Mortgage servicing rights | 10,396 | 12,415 |
Recurring [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 54,024 | 49,990 |
Recurring [Member] | Collateralized Loan Obligations [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 34,281 | 30,967 |
Recurring [Member] | Asset-backed securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 6,266 | 5,901 |
Recurring [Member] | Auto loans and leases [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 12 | 15 |
Recurring [Member] | Other asset-backed securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 5,867 | 5,472 |
Recurring [Member] | Equity Securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 1,302 | 1,637 |
Recurring [Member] | Perpetual preferred securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 734 | 918 |
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 | (1,628) | (1,498) |
Available-for-sale Securities | 4,427 | 3,726 |
Mortgages held for sale, carried at fair value | 1,084 | 1,082 |
Loans | 5,032 | 5,316 |
Mortgage servicing rights | 10,396 | 12,415 |
Total insignificant level 3 assets, net of liabilities | 563 | 493 |
Total level 3 assets, net of liabilities | 24,729 | 26,143 |
Fair Value Inputs [Abstract] | ||
Assets, Fair Value Disclosure | 26,357 | 27,641 |
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 | 285 | 58 |
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 | 405 | 230 |
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 | 84 | 72 |
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 | (336) | (183) |
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 | (25) | (9) |
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 | 86 | 6 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 1,793 | 1,500 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Government, healthcare and other revenue bonds [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Trading and Available for Sale Securities, Fair Value Disclosure | 1,538 | 1,213 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Government, healthcare and other revenue bonds [Member] | Vendor priced [Member] | ||
Fair Value Inputs [Abstract] | ||
Trading and Available for Sale Securities, Fair Value Disclosure | 49 | 51 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Auction rate and other municipal bonds [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Trading and Available for Sale Securities, Fair Value Disclosure | 213 | 244 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Collateralized Loan Obligations [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 951 | 565 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Collateralized Loan Obligations [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Trading and Available for Sale Securities, Fair Value Disclosure | 249 | 343 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Collateralized Loan Obligations [Member] | Vendor priced [Member] | ||
Fair Value Inputs [Abstract] | ||
Trading and Available for Sale Securities, Fair Value Disclosure | 951 | 565 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Asset-backed securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 1,117 | 1,182 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Auto loans and leases [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Other asset-backed securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 1,117 | 1,182 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Diversified payment rights [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Trading and Available for Sale Securities, Fair Value Disclosure | 499 | 608 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Other commercial and consumer [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Trading and Available for Sale Securities, Fair Value Disclosure | 612 | 508 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Other commercial and consumer [Member] | Vendor priced [Member] | ||
Fair Value Inputs [Abstract] | ||
Trading and Available for Sale Securities, Fair Value Disclosure | 6 | 66 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Equity Securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Perpetual preferred securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 0 | 0 |
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 | 1,045 | 1,033 |
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 | 39 | 49 |
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 | 5,032 | 5,316 |
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 | 10,396 | 12,415 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Other assets: nonmarketable equity investments [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Other assets: nonmarketable equity investments | 11 | |
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 | 3,027 | 3,065 |
Fair Value, Inputs, Level 2 [Member] | Derivative [Member] | ||
Fair Value Inputs [Abstract] | ||
Aggregate Fair Value Of Derivative Loan Commitments Net Asset (Liability) | 2 | |
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 | (134,780) | (83,031) |
Available-for-sale Securities | 222,891 | 229,557 |
Mortgages held for sale, carried at fair value | 19,157 | 12,457 |
Loans | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Fair Value Inputs [Abstract] | ||
Assets, Fair Value Disclosure | 418,748 | 357,215 |
Fair Value, Inputs, Level 2 [Member] | Recurring [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 52,231 | 48,490 |
Fair Value, Inputs, Level 2 [Member] | Recurring [Member] | Collateralized Loan Obligations [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 33,330 | 30,402 |
Fair Value, Inputs, Level 2 [Member] | Recurring [Member] | Asset-backed securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 5,149 | 4,719 |
Fair Value, Inputs, Level 2 [Member] | Recurring [Member] | Auto loans and leases [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 12 | 15 |
Fair Value, Inputs, Level 2 [Member] | Recurring [Member] | Other asset-backed securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 4,750 | 4,290 |
Fair Value, Inputs, Level 2 [Member] | Recurring [Member] | Equity Securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 464 | 484 |
Fair Value, Inputs, Level 2 [Member] | Recurring [Member] | Perpetual preferred securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | $ 464 | $ 484 |
Non modified loans [Member] | Minimum [Member] | ||
Fair Value Inputs [Abstract] | ||
Cost to service per loan | $ / loan | 70 | 70 |
Non modified loans [Member] | Maximum [Member] | ||
Fair Value Inputs [Abstract] | ||
Cost to service per loan | $ / loan | 321 | 335 |
Collateralized Debt Obligations [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | $ 719 | $ 257 |
Fair Value, Assets Recorded at
Fair Value, Assets Recorded at Fair Value on Nonrecurring Basis (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgages held for sale | $ 20,241 | $ 13,539 |
Loans | 5,032 | 5,316 |
Other assets, carried at fair value | 3,046 | 3,065 |
Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgages held for sale | 2,722 | 5,714 |
Loans held for sale | 197 | 279 |
Loans | 1,224 | 1,604 |
Other assets, carried at fair value | 619 | 648 |
Investment Measured at NAV | 31 | 286 |
Nonrecurring [Member] | Total Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 605 | 191 |
Nonrecurring [Member] | Total Consumer [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 619 | 1,413 |
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 |
Assets, Fair Value Disclosure | 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 | 1,476 | 4,667 |
Loans held for sale | 197 | 279 |
Loans | 1,218 | 1,597 |
Other assets, carried at fair value | 225 | 280 |
Assets, Fair Value Disclosure | 3,116 | 6,823 |
Level 2 [Member] | Nonrecurring [Member] | Total Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 605 | 191 |
Level 2 [Member] | Nonrecurring [Member] | Total Consumer [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 613 | 1,406 |
Level 3 [Member] | Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgages held for sale | 1,246 | 1,047 |
Loans held for sale | 0 | 0 |
Loans | 6 | 7 |
Other assets, carried at fair value | 394 | 368 |
Assets, Fair Value Disclosure | 1,646 | 1,422 |
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 | 6 | 7 |
Excluding NAV Investments [Member] | Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 4,762 | 8,245 |
Including NAV Investments [Member] | Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | $ 4,793 | $ 8,531 |
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 | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis Increase (Decrease) [Line Items] | ||
Mortgages held for sale (LOCOM) | $ 30 | $ 18 |
Loans held for sale | 0 | (1) |
Loans | (991) | (675) |
Other assets | (259) | (152) |
Total | (1,220) | (810) |
Total Commercial [Member] | ||
Fair Value Assets And Liabilities Measured On Nonrecurring Basis Increase (Decrease) [Line Items] | ||
Loans | (560) | (74) |
Total Consumer [Member] | ||
Fair Value Assets And Liabilities Measured On Nonrecurring Basis Increase (Decrease) [Line Items] | ||
Loans | $ (431) | $ (601) |
Fair Value, Assets Recorded 117
Fair Value, Assets Recorded at Fair Value on a Nonrecurring Basis Level 3 Valuation Techniques and Significant Unobservable Inputs (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgages held for sale | $ 20,241 | $ 13,539 |
Minimum [Member] | Mortgages held for sale [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Default rate | 0.50% | 0.50% |
Discount rate | 1.10% | 1.10% |
Loss severity | 0.00% | 0.10% |
Prepayment rate | 8.30% | 2.60% |
Minimum [Member] | Mortgages held for sale [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | (53.30%) | (53.30%) |
Maximum [Member] | Mortgages held for sale [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Default rate | 11.50% | 13.70% |
Discount rate | 6.60% | 6.30% |
Loss severity | 39.80% | 22.70% |
Prepayment rate | 15.50% | 9.60% |
Maximum [Member] | Mortgages held for sale [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | 0.00% | 0.00% |
Weighted Average [Member] | Mortgages held for sale [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Default rate | 2.20% | 3.60% |
Discount rate | 4.70% | 4.70% |
Loss severity | 21.30% | 11.20% |
Prepayment rate | 10.90% | 6.40% |
Weighted Average [Member] | Mortgages held for sale [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | (33.90%) | (32.60%) |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgages held for sale | $ 20,241 | $ 13,539 |
Fair Value Inputs [Abstract] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 32,437 | 29,620 |
Nonrecurring [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgages held for sale | $ 2,722 | $ 5,714 |
Nonrecurring [Member] | Minimum [Member] | Discounted cash flow [Member] | Other Assets: Nonmarketable Equity Investments [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 7.00% | 0.00% |
Comparability adjustment | 0.00% | 5.00% |
Nonrecurring [Member] | Minimum [Member] | Residential [Member] | Mortgages held for sale [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Default rate | 0.20% | 0.50% |
Discount rate | 1.50% | 1.50% |
Loss severity | 0.80% | 0.00% |
Prepayment rate | 6.00% | 2.60% |
Nonrecurring [Member] | Maximum [Member] | Discounted cash flow [Member] | Other Assets: Nonmarketable Equity Investments [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 9.00% | 0.00% |
Comparability adjustment | 0.00% | 9.20% |
Nonrecurring [Member] | Maximum [Member] | Residential [Member] | Mortgages held for sale [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Default rate | 5.80% | 5.00% |
Discount rate | 8.50% | 8.50% |
Loss severity | 45.30% | 26.10% |
Prepayment rate | 100.00% | 100.00% |
Nonrecurring [Member] | Weighted Average [Member] | Discounted cash flow [Member] | Other Assets: Nonmarketable Equity Investments [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 8.00% | 0.00% |
Comparability adjustment | 0.00% | 8.50% |
Nonrecurring [Member] | Weighted Average [Member] | Residential [Member] | Mortgages held for sale [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Default rate | 2.60% | 4.20% |
Discount rate | 3.80% | 3.50% |
Loss severity | 2.50% | 2.90% |
Prepayment rate | 54.10% | 65.40% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgages held for sale | $ 1,084 | $ 1,082 |
Total assets recorded at fair value | 26,357 | 27,641 |
Fair Value Inputs [Abstract] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 1,628 | 1,498 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, 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 | 1,045 | 1,033 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, 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 | 39 | 49 |
Fair Value, Inputs, Level 3 [Member] | Nonrecurring [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgages held for sale | 1,246 | 1,047 |
Insignificant level 3 assets | 222 | 147 |
Total assets recorded at fair value | 1,646 | 1,422 |
Fair Value, Inputs, Level 3 [Member] | Nonrecurring [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Other Assets Nonmarketable Equity Investments, Fair Value Disclosure | 178 | 0 |
Fair Value, Inputs, Level 3 [Member] | Nonrecurring [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Other Assets Nonmarketable Equity Investments, Fair Value Disclosure | 0 | 228 |
Fair Value, Inputs, Level 3 [Member] | Nonrecurring [Member] | Residential [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgages held for sale | 1,246 | 1,047 |
Government Insured Or Guaranteed [Member] | Residential [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgages held for sale | 1,200 | 1,006 |
Non Government Insured Or Guaranteed [Member] | Residential [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgages held for sale | $ 38 | $ 41 |
Fair Value, Investments in Enti
Fair Value, Investments in Entities That Calculate Net Asset Value Per Share (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2015 | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Fair value | $ 148 | $ 642 |
Unfunded commitments | $ 71 | $ 144 |
Private equity funds [Member] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Alternative investment, distributions from underlying assets, distribution period | 2 years |
Fair Value, Option, Carrying Am
Fair Value, Option, Carrying Amount (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Mortgages held for sale | $ 20,241 | $ 13,539 |
Loans | 5,032 | 5,316 |
Other assets, carried at fair value | 3,046 | 3,065 |
Trading assets - loans [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Trading assets, loans | 1,574 | 886 |
Trading assets, loans, unpaid principal | 1,667 | 935 |
Trading assets, loans, aggregate difference | (93) | (49) |
Nonaccrual loans | 19 | 0 |
Nonaccrual loans, unpaid principal | 27 | 0 |
Nonaccrual loans, Aggregate difference | (8) | 0 |
Mortgages held for sale [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Mortgages held for sale | 20,241 | 13,539 |
Mortgages held for sale, unpaid principal | 19,446 | 13,265 |
Loans, Loans held for sale and Mortgages held for sale, aggregate difference | 795 | 274 |
Nonaccrual loans | 141 | 161 |
Nonaccrual loans, unpaid principal | 187 | 228 |
Nonaccrual loans, Aggregate difference | (46) | (67) |
Loans 90 days or more past due and still accruing | 15 | 19 |
Loans 90 days or more past due and still accruing, Unpaid principal | 19 | 22 |
Loans 90 days or more past due and still accruing, Aggregate difference | (4) | (3) |
Loans held for sale [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans held for sale | 0 | 0 |
Loans held for sale, unpaid principal | 6 | 5 |
Loans, Loans held for sale and Mortgages held for sale, aggregate difference | (6) | (5) |
Nonaccrual loans | 0 | 0 |
Nonaccrual loans, unpaid principal | 6 | 5 |
Nonaccrual loans, Aggregate difference | (6) | (5) |
Loans [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans | 5,032 | 5,316 |
Loans, Unpaid principal | 4,909 | 5,184 |
Loans, Loans held for sale and Mortgages held for sale, aggregate difference | 123 | 132 |
Nonaccrual loans | 262 | 305 |
Nonaccrual loans, unpaid principal | 277 | 322 |
Nonaccrual loans, Aggregate difference | (15) | (17) |
Other assets [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Other assets, carried at fair value | $ 3,046 | $ 3,065 |
Fair Value, Option, Gains and L
Fair Value, Option, Gains and Losses (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
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 | 611 | 316 | 1,176 | 897 |
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 | 4 | 26 | 19 |
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 | 1 | (2) | (1) | (2) |
Other noninterest income [Member] | Trading assets - loans [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | 1 | 1 | 1 | 2 |
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 | (3) | (39) | (4) | (43) |
Other noninterest income [Member] | Other assets [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | (176) | (10) | (234) | 28 |
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 | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) attributable to instrument-specific credit risk | $ 15 | $ 35 | $ 21 | $ 67 |
Trading assets - loans [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) attributable to instrument-specific credit risk | 16 | 4 | 26 | 19 |
Mortgages held for sale [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) attributable to instrument-specific credit risk | $ (1) | $ 31 | $ (5) | $ 48 |
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 | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | |
Financial assets | |||||
Cash and due from banks | $ 20,407 | $ 19,111 | $ 19,687 | $ 19,571 | |
Federal funds sold, securities purchased under resale agreements and other short-term investments | 295,521 | 270,130 | |||
Held-to-maturity securities | 100,420 | 80,197 | |||
Loans | [1] | 957,157 | 916,559 | ||
Excluding investments at NAV | 7,725 | 7,035 | |||
Financial liabilities | |||||
Deposits | 1,245,473 | 1,223,312 | |||
Short-term borrowings | 120,258 | 97,528 | |||
Long-Term Debt | 243,927 | 199,536 | |||
Capital Lease Obligations | 8 | 8 | |||
Carrying value [Member] | |||||
Financial assets | |||||
Cash and due from banks | 20,407 | 19,111 | |||
Federal funds sold, securities purchased under resale agreements and other short-term investments | 295,521 | 270,130 | |||
Held-to-maturity securities | 100,420 | 80,197 | |||
Mortgages held for sale | 3,689 | 6,064 | |||
Loans held for sale | 220 | 279 | |||
Loans | 921,679 | 887,497 | |||
Excluding investments at NAV | 7,624 | 6,659 | |||
Investment Measured at NAV | 101 | 376 | |||
Financial liabilities | |||||
Deposits | 1,245,473 | 1,223,312 | |||
Short-term borrowings | 120,258 | 97,528 | |||
Long-Term Debt | 243,919 | 199,528 | |||
Financial Liabilities Fair Value Disclosure | 1,609,650 | 1,520,368 | |||
Estimated fair value [Member] | |||||
Financial assets | |||||
Cash and due from banks | 20,407 | 19,111 | |||
Federal funds sold, securities purchased under resale agreements and other short-term investments | 295,521 | 270,130 | |||
Held-to-maturity securities | 104,077 | 80,567 | |||
Mortgages held for sale | 3,703 | 6,066 | |||
Loans held for sale | 222 | 279 | |||
Loans | 940,084 | 900,664 | |||
Excluding investments at NAV | 8,223 | 7,285 | |||
Investment Measured at NAV | 148 | 619 | |||
Financial liabilities | |||||
Deposits | 1,245,781 | 1,223,397 | |||
Short-term borrowings | 120,258 | 97,528 | |||
Long-Term Debt | 243,391 | 198,483 | |||
Financial Liabilities Fair Value Disclosure | 1,609,430 | 1,519,408 | |||
Loan Commitments And Standby, Commercial And Similar Letters of Credit | 1,200 | 1,000 | |||
Estimated fair value [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Financial assets | |||||
Cash and due from banks | 20,407 | 19,111 | |||
Federal funds sold, securities purchased under resale agreements and other short-term investments | 20,288 | 14,057 | |||
Held-to-maturity securities | 47,317 | 45,167 | |||
Mortgages held for sale | 0 | 0 | |||
Loans held for sale | 0 | 0 | |||
Loans | 0 | 0 | |||
Excluding investments at NAV | 0 | 0 | |||
Assets | 88,012 | 78,335 | |||
Financial liabilities | |||||
Deposits | 0 | 0 | |||
Short-term borrowings | 0 | 0 | |||
Long-Term Debt | 0 | 0 | |||
Financial Liabilities Fair Value Disclosure | 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 | 275,123 | 255,911 | |||
Held-to-maturity securities | 54,191 | 32,052 | |||
Mortgages held for sale | 2,457 | 5,019 | |||
Loans held for sale | 222 | 279 | |||
Loans | 60,732 | 60,848 | |||
Excluding investments at NAV | 18 | 14 | |||
Assets | 392,743 | 354,123 | |||
Financial liabilities | |||||
Deposits | 1,220,198 | 1,194,781 | |||
Short-term borrowings | 120,258 | 97,528 | |||
Long-Term Debt | 232,701 | 188,015 | |||
Financial Liabilities Fair Value Disclosure | 1,573,157 | 1,480,324 | |||
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 | 110 | 162 | |||
Held-to-maturity securities | 2,569 | 3,348 | |||
Mortgages held for sale | 1,246 | 1,047 | |||
Loans held for sale | 0 | 0 | |||
Loans | 879,352 | 839,816 | |||
Excluding investments at NAV | 8,205 | 7,271 | |||
Assets | 891,482 | 851,644 | |||
Financial liabilities | |||||
Deposits | 25,583 | 28,616 | |||
Short-term borrowings | 0 | 0 | |||
Long-Term Debt | 10,690 | 10,468 | |||
Financial Liabilities Fair Value Disclosure | 36,273 | 39,084 | |||
Finance Leases Financing Receivable [Member] | |||||
Financial assets | |||||
Loans | 19,000 | 12,400 | |||
Excluding NAV Investments [Member] | Carrying value [Member] | |||||
Financial assets | |||||
Assets | 1,349,560 | 1,269,937 | |||
Excluding NAV Investments [Member] | Estimated fair value [Member] | |||||
Financial assets | |||||
Assets | 1,372,237 | 1,284,102 | |||
Including NAV Investments [Member] | Carrying value [Member] | |||||
Financial assets | |||||
Assets | 1,349,661 | 1,270,313 | |||
Including NAV Investments [Member] | Estimated fair value [Member] | |||||
Financial assets | |||||
Assets | $ 1,372,385 | $ 1,284,721 | |||
[1] | Parenthetical amounts represent assets and liabilities for which we have elected the fair value option. |
Preferred Stock (Details)
Preferred Stock (Details) $ / shares in Units, $ in Millions | 1 Months Ended | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2016USD ($)$ / sharesshares | Jan. 31, 2016USD ($)shares | Jun. 30, 2016USD ($)vote$ / sharesshares | Dec. 31, 2015USD ($)$ / sharesshares | |
Detail of Preferred Stock [Abstract] | ||||
Preferred Stock, Shares authorized and designated | shares | 12,220,852 | 12,220,852 | 11,669,096 | |
ESOP, Liquidation preference per share | $ / shares | $ 0 | $ 0 | $ 0 | |
ESOP, Shares authorized and designated | shares | 1,718,142 | 1,718,142 | 1,252,386 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||||
Shares issued and outstanding | shares | 11,811,673 | 11,811,673 | 11,259,917 | |
Voting Rights | If issued, preference shares would be limited to one vote per share | |||
Preferred Stock, Liquidation Preference, Value | $ 26,229 | $ 26,229 | $ 23,613 | |
Carrying value | 24,830 | 24,830 | 22,214 | |
Discount | $ 1,399 | $ 1,399 | $ 1,399 | |
ESOP Shares issued and outstanding | shares | 1,718,142 | 1,718,142 | 1,252,386 | |
ESOP Liquidation preference value | $ 1,718 | $ 1,718 | $ 1,252 | |
ESOP Carrying value | 1,718 | 1,718 | 1,252 | |
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] | ||||
Preferred Stock, Par or Stated 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 | ||
Preferred Stock, Par or Stated 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 | |
Preferred Stock, Liquidation Preference, Value | $ 0 | $ 0 | $ 0 | |
Carrying value | 0 | 0 | 0 | |
Discount | 0 | 0 | $ 0 | |
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 | |
Preferred Stock, Liquidation Preference, Value | $ 2,501 | $ 2,501 | $ 2,501 | |
Carrying value | 2,501 | 2,501 | 2,501 | |
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 | |
Preferred Stock, Liquidation Preference, Value | $ 2,150 | $ 2,150 | $ 2,150 | |
Carrying value | 1,995 | 1,995 | 1,995 | |
Discount | $ 155 | $ 155 | $ 155 | |
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 | |
Preferred Stock, Liquidation Preference, Value | $ 3,352 | $ 3,352 | $ 3,352 | |
Carrying value | 2,876 | 2,876 | 2,876 | |
Discount | $ 476 | $ 476 | $ 476 | |
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 | |
Preferred Stock, Liquidation Preference, Value | $ 3,968 | $ 3,968 | $ 3,968 | |
Carrying value | 3,200 | 3,200 | 3,200 | |
Discount | $ 768 | $ 768 | $ 768 | |
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 | |
Preferred Stock, Liquidation Preference, Value | $ 750 | $ 750 | $ 750 | |
Carrying value | 750 | 750 | 750 | |
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 | |
Preferred Stock, Liquidation Preference, Value | $ 650 | $ 650 | $ 650 | |
Carrying value | 650 | 650 | 650 | |
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 | |
Preferred Stock, Liquidation Preference, Value | $ 625 | $ 625 | $ 625 | |
Carrying value | 625 | 625 | 625 | |
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 | |
Preferred Stock, Liquidation Preference, Value | $ 1,725 | $ 1,725 | $ 1,725 | |
Carrying value | 1,725 | 1,725 | 1,725 | |
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 | |
Preferred Stock, Liquidation Preference, Value | $ 840 | $ 840 | $ 840 | |
Carrying value | 840 | 840 | 840 | |
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 | |
Preferred Stock, Liquidation Preference, Value | $ 2,000 | $ 2,000 | $ 2,000 | |
Carrying value | 2,000 | 2,000 | 2,000 | |
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 | |
Preferred Stock, Liquidation Preference, Value | $ 800 | $ 800 | $ 800 | |
Carrying value | 800 | 800 | 800 | |
Discount | $ 0 | $ 0 | $ 0 | |
Series U - 5.875% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||||
Detail of Preferred Stock [Abstract] | ||||
Preferred Stock, Dividend rate (percent) | 5.875% | 5.875% | ||
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 | |
Preferred Stock, Liquidation Preference, Value | $ 2,000 | $ 2,000 | $ 2,000 | |
Carrying value | 2,000 | 2,000 | 2,000 | |
Discount | $ 0 | $ 0 | $ 0 | |
Series V - 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 | 40,000 | 40,000 | 40,000 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||||
Shares issued and outstanding | shares | 40,000 | 40,000 | 40,000 | |
Preferred Stock, Liquidation Preference, Value | $ 1,000 | $ 1,000 | $ 1,000 | |
Carrying value | 1,000 | 1,000 | 1,000 | |
Discount | $ 0 | $ 0 | $ 0 | |
Series W - 5.700% 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) | 5.70% | 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 | |
Preferred Stock, Liquidation Preference, Value | $ 1,000 | $ 1,000 | $ 0 | |
Carrying value | 1,000 | 1,000 | 0 | |
Discount | $ 0 | $ 0 | $ 0 | |
Preferred Stock, Par or Stated Value | $ 1,000 | |||
Series X - 5.500% 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 | 46,000,000 | |||
Detail of Preferred Stock [Abstract] | ||||
Preferred Stock, Dividend rate (percent) | 5.50% | 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 | 46,000 | 46,000 | 0 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||||
Shares issued and outstanding | shares | 46,000 | 46,000 | 0 | |
Preferred Stock, Liquidation Preference, Value | $ 1,150 | $ 1,150 | $ 0 | |
Carrying value | 1,150 | 1,150 | 0 | |
Discount | 0 | 0 | $ 0 | |
Preferred Stock, Par or Stated Value | $ 1,200 | $ 1,200 |
ESOP Preferred Stock (Details)
ESOP Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Class of Stock [Line Items] | ||
Additional paid-in capital included related to preferred stock | $ 150 | $ 110 |
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 1,718,142 | 1,252,386 |
Carrying value | $ 1,718 | $ 1,252 |
Unearned ESOP shares | $ (1,868) | $ (1,362) |
Employee Stock Ownership Plan Preferred Stock 2016 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 637,489 | 0 |
Carrying value | $ 637 | $ 0 |
Employee Stock Ownership Plan Preferred Stock 2016 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 9.30% | 0.00% |
Employee Stock Ownership Plan Preferred Stock 2016 [Member] | Maximum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 10.30% | 0.00% |
Employee Stock Ownership Plan Preferred Stock 2015 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 200,820 | 220,408 |
Carrying value | $ 201 | $ 220 |
Employee Stock Ownership Plan Preferred Stock 2015 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 8.90% | 8.90% |
Employee Stock Ownership Plan Preferred Stock 2015 [Member] | Maximum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 9.90% | 9.90% |
Employee Stock Ownership Plan Preferred Stock 2014 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 255,413 | 283,791 |
Carrying value | $ 255 | $ 284 |
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 | 222,558 | 251,304 |
Carrying value | $ 223 | $ 251 |
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 | 144,072 | 166,353 |
Carrying value | $ 144 | $ 166 |
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 | 149,301 | 177,614 |
Carrying value | $ 149 | $ 178 |
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 | 90,775 | 113,234 |
Carrying value | $ 91 | $ 113 |
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 | 17,714 | 28,972 |
Carrying value | $ 18 | $ 29 |
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 | 0 | 10,710 |
Carrying value | $ 0 | $ 11 |
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% |
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 | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Pension benefits qualified [Member] | ||||
Components of net periodic benefit cost [Abstract] | ||||
Service cost | $ 1 | $ 1 | $ 2 | $ 1 |
Interest cost | 109 | 107 | 218 | 214 |
Expected return on plan assets | (141) | (161) | (283) | (322) |
Amortization of net actuarial loss (gain) | 33 | 27 | 66 | 54 |
Amortization of prior service credit | 0 | 0 | 0 | 0 |
Settlement loss | 4 | 0 | 4 | 0 |
Net periodic benefit cost (income) | 6 | (26) | 7 | (53) |
Pension benefits nonqualified [Member] | ||||
Components of net periodic benefit cost [Abstract] | ||||
Service cost | 0 | 0 | 0 | 0 |
Interest cost | 6 | 7 | 13 | 13 |
Expected return on plan assets | 0 | 0 | 0 | 0 |
Amortization of net actuarial loss (gain) | 3 | 4 | 6 | 9 |
Amortization of prior service credit | 0 | 0 | 0 | 0 |
Settlement loss | 0 | 0 | 2 | 13 |
Net periodic benefit cost (income) | 9 | 11 | 21 | 35 |
Other benefits [Member] | ||||
Components of net periodic benefit cost [Abstract] | ||||
Service cost | 0 | 2 | 0 | 4 |
Interest cost | 10 | 10 | 20 | 21 |
Expected return on plan assets | (7) | (9) | (15) | (18) |
Amortization of net actuarial loss (gain) | (1) | (1) | (2) | (2) |
Amortization of prior service credit | 0 | 0 | 0 | (1) |
Settlement loss | 0 | 0 | 0 | 0 |
Net periodic benefit cost (income) | $ 2 | $ 2 | $ 3 | $ 4 |
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 | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Earnings Per Common Share [Abstract] | ||||
Wells Fargo net income | $ 5,558 | $ 5,719 | $ 11,020 | $ 11,523 |
Less: Preferred stock dividends and other | 385 | 356 | 762 | 699 |
Wells Fargo net income applicable to common stock (numerator) | $ 5,173 | $ 5,363 | $ 10,258 | $ 10,824 |
Earnings per common share | ||||
Average common shares outstanding (denominator) | 5,066.9 | 5,151.9 | 5,071.3 | 5,156.1 |
Per share | $ 1.02 | $ 1.04 | $ 2.02 | $ 2.10 |
Diluted earnings per common share | ||||
Average common shares outstanding (in shares) | 5,066.9 | 5,151.9 | 5,071.3 | 5,156.1 |
Diluted average common shares outstanding (denominator) | 5,118.1 | 5,220.5 | 5,129.8 | 5,233.2 |
Per share | $ 1.01 | $ 1.03 | $ 2 | $ 2.07 |
Stock Option [Member] | ||||
Diluted earnings per common share | ||||
Weighted average number of diluted shares outstanding, adjustment (in shares) | 19.6 | 27.3 | 20.4 | 28.1 |
Restricted Share Rights [Member] | ||||
Diluted earnings per common share | ||||
Weighted average number of diluted shares outstanding, adjustment (in shares) | 21 | 26.8 | 27.4 | 34.6 |
Warrants [Member] | ||||
Diluted earnings per common share | ||||
Weighted average number of diluted shares outstanding, adjustment (in shares) | 10.6 | 14.5 | 10.7 | 14.4 |
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 | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Stock Option [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive Instruments | 2.7 | 5.6 | 3.7 | 6.3 |
Other Comprehensive Income, Com
Other Comprehensive Income, Components of Other Comprehensive Income (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Investment securities: | ||||
Net unrealized gains (losses) arising during the period, Before tax | $ 1,571 | $ (1,969) | $ 2,366 | $ (1,576) |
Net unrealized gains (losses) arising during the period, Tax effect | (596) | 678 | (906) | 631 |
Net unrealized gains (losses) arising during the period, Net of tax | 975 | (1,291) | 1,460 | (945) |
Reclassification of net (gains) losses to net income, Before tax | (504) | (218) | (808) | (518) |
Reclassification of net (gains) losses to net income, Tax effect | 190 | 82 | 303 | 195 |
Reclassification of net (gains) losses to net income, Net of tax | (314) | (136) | (505) | (323) |
Net change, Before tax | 1,067 | (2,187) | 1,558 | (2,094) |
Net change, Tax effect | (406) | 760 | (603) | 826 |
Net change, Net of tax | 661 | (1,427) | 955 | (1,268) |
Derivatives and hedging activities: | ||||
Net unrealized gains (losses) arising during the period | 1,057 | (488) | 3,056 | 464 |
Net unrealized gains (losses) arising during the period, Tax effect | (399) | 184 | (1,152) | (175) |
Net unrealized gains (losses) arising during the period, Net of tax | 658 | (304) | 1,904 | 289 |
Reclassification of net (gains) losses to net income, Before tax | (265) | (268) | (521) | (502) |
Reclassification of net (gains) losses to net income, Tax effect | 100 | 101 | 196 | 190 |
Reclassification of net (gains) losses to net income, Net of tax | (165) | (167) | (325) | (312) |
Net change, Before tax | 792 | (756) | 2,535 | (38) |
Net change, Tax effect | (299) | 285 | (956) | 15 |
Net change, Net of tax | 493 | (471) | 1,579 | (23) |
Defined benefit plans adjustments: | ||||
Net actuarial losses arising during the period, Before tax | (19) | 0 | (27) | (11) |
Net actuarial losses arising during the period, Tax effect | 7 | 0 | 10 | 4 |
Net actuarial losses arising during the period, Net of tax | (12) | 0 | (17) | (7) |
Amortization of net actuarial loss, Before tax | 35 | 30 | 70 | 61 |
Amortization of net actuarial loss, Tax effect | (14) | (11) | (27) | (23) |
Amortization of net actuarial loss, Net of tax | 21 | 19 | 43 | 38 |
Settlements and other, Before tax | 4 | 0 | 6 | 12 |
Settlements and other, Tax effect | (1) | 0 | (2) | (5) |
Settlements and other, Net of tax | 3 | 0 | 4 | 7 |
Reclassification of amounts to net periodic benefit costs, Before tax | 39 | 30 | 76 | 73 |
Reclassification of amounts to net periodic benefit costs, Tax effect | (15) | (11) | (29) | (28) |
Reclassification of amounts to net periodic benefit costs, Net of tax | 24 | 19 | 47 | 45 |
Net change, Before tax | 20 | 30 | 49 | 62 |
Net change, Tax effect | (8) | (11) | (19) | (24) |
Net change, Net of tax | 12 | 19 | 30 | 38 |
Foreign currency translation adjustments: | ||||
Net unrealized gains (losses) arising during the period, Before tax | (6) | 10 | 37 | (45) |
Net unrealized gains (losses) arising during the period, Tax effect | (1) | 6 | 7 | (5) |
Net unrealized gains (losses) arising during the period, Net of tax | (7) | 16 | 44 | (50) |
Net change, Before tax | (6) | 10 | 37 | (45) |
Net change, Tax effect | (1) | 6 | 7 | (5) |
Net change, Net of tax | (7) | 16 | 44 | (50) |
Other comprehensive income (loss), before tax | 1,873 | (2,903) | 4,179 | (2,115) |
Other comprehensive income (loss), tax effect | (714) | 1,040 | (1,571) | 812 |
Other comprehensive income (loss), net of tax | 1,159 | (1,863) | 2,608 | (1,303) |
Less: Other comprehensive income (loss) from noncontrolling interests | (15) | (154) | (43) | 147 |
Wells Fargo other comprehensive income (loss), net of tax | 1,174 | (1,709) | 2,651 | (1,450) |
Interest income [Member] | Loans [Member] | ||||
Derivatives and hedging activities: | ||||
Reclassification of net (gains) losses to net income, Before tax | (268) | (272) | (528) | (509) |
Reclassification of net (gains) losses to net income, Tax effect | 101 | 103 | 199 | 192 |
Reclassification of net (gains) losses to net income, Net of tax | (167) | (169) | (329) | (317) |
Interest income [Member] | Investment securities [Member] | ||||
Investment securities: | ||||
Reclassification of net (gains) losses to net income, Before tax | 3 | 1 | 3 | (2) |
Reclassification of net (gains) losses to net income, Tax effect | (1) | 0 | (1) | 1 |
Reclassification of net (gains) losses to net income, Net of tax | 2 | 1 | 2 | (1) |
Derivatives and hedging activities: | ||||
Reclassification of net (gains) losses to net income, Before tax | 0 | (1) | 0 | (2) |
Reclassification of net (gains) losses to net income, Tax effect | 0 | 0 | 0 | 1 |
Reclassification of net (gains) losses to net income, Net of tax | 0 | (1) | 0 | (1) |
Net (gains) losses from debt and equity investments [Member] | Debt Securities [Member] | ||||
Investment securities: | ||||
Reclassification of net (gains) losses to net income, Before tax | (447) | (181) | (691) | (459) |
Reclassification of net (gains) losses to net income, Tax effect | 168 | 68 | 259 | 173 |
Reclassification of net (gains) losses to net income, Net of tax | (279) | (113) | (432) | (286) |
Net (gains) losses from debt and equity investments [Member] | Equity Securities [Member] | ||||
Investment securities: | ||||
Reclassification of net (gains) losses to net income, Before tax | (60) | (38) | (119) | (57) |
Reclassification of net (gains) losses to net income, Tax effect | 23 | 14 | 45 | 21 |
Reclassification of net (gains) losses to net income, Net of tax | (37) | (24) | (74) | (36) |
Other noninterest income [Member] | ||||
Investment securities: | ||||
Reclassification of net (gains) losses to net income, Before tax | 0 | 0 | (1) | 0 |
Reclassification of net (gains) losses to net income, Tax effect | 0 | 0 | 0 | 0 |
Reclassification of net (gains) losses to net income, Net of tax | 0 | 0 | (1) | 0 |
Interest expense on long-term debt [Member] | ||||
Derivatives and hedging activities: | ||||
Reclassification of net (gains) losses to net income, Before tax | 3 | 5 | 7 | 9 |
Reclassification of net (gains) losses to net income, Tax effect | (1) | (2) | (3) | (3) |
Reclassification of net (gains) losses to net income, Net of tax | $ 2 | $ 3 | $ 4 | $ 6 |
Other Comprehensive Income, Cum
Other Comprehensive Income, Cumulative OCI Balances (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Investment securities: | ||||
Cumulative other comprehensive income, Investment securities, beginning of period | $ 2,137 | $ 4,784 | $ 1,813 | $ 4,926 |
Net unrealized gains (losses) arising during the period | 975 | (1,291) | 1,460 | (945) |
Amounts reclassified from accumulated other comprehensive income | (314) | (136) | (505) | (323) |
Net change, Net of tax | 661 | (1,427) | 955 | (1,268) |
Less: Other comprehensive income (loss) from noncontrolling interests | (14) | (152) | (44) | 149 |
Cumulative other comprehensive income, Investment securities, end of period | 2,812 | 3,509 | 2,812 | 3,509 |
Derivatives and hedging activities: | ||||
Cumulative other comprehensive income, Derivatives and hedging activities, beginning of period | 1,706 | 781 | 620 | 333 |
Net unrealized gains (losses) arising during the period | 658 | (304) | 1,904 | 289 |
Amounts reclassified from accumulated other comprehensive income | (165) | (167) | (325) | (312) |
Net change, Net of tax | 493 | (471) | 1,579 | (23) |
Less: Other comprehensive income from noncontrolling interests | 0 | 0 | 0 | 0 |
Cumulative other comprehensive income, Derivatives and hedging activities, end of period | 2,199 | 310 | 2,199 | 310 |
Defined benefit plans adjustments: | ||||
Cumulative other comprehensive loss, Defined benefit plans adjustment, beginning of period | (1,933) | (1,684) | (1,951) | (1,703) |
Net unrealized losses arising during the period | (12) | 0 | (17) | (7) |
Amounts reclassified from accumulated other comprehensive income | 24 | 19 | 47 | 45 |
Net change, Net of tax | 12 | 19 | 30 | 38 |
Less: Other comprehensive income from noncontrolling interests | 0 | 0 | 0 | 0 |
Cumulative other comprehensive loss, Defined benefit plans adjustment, end of period | (1,921) | (1,665) | (1,921) | (1,665) |
Foreign currency translation adjustments: | ||||
Cumulative other comprehensive loss, Foreign currency translation adjustments, beginning of period | (136) | (104) | (185) | (38) |
Net unrealized gains (losses) arising during the period | (7) | 16 | 44 | (50) |
Amounts reclassified from accumulated other comprehensive income | 0 | 0 | 0 | 0 |
Net change, Net of tax | (7) | 16 | 44 | (50) |
Less: Other comprehensive income (loss) from noncontrolling interests | (1) | (2) | 1 | (2) |
Cumulative other comprehensive loss, Foreign currency translation adjustments, end of period | (142) | (86) | (142) | (86) |
Cumulative other comprehensive income, beginning of period | 1,774 | 3,777 | 297 | 3,518 |
Net unrealized gains (losses) arising during the period | 1,614 | (1,579) | 3,391 | (713) |
Amounts reclassified from accumulated other comprehensive income | (455) | (284) | (783) | (590) |
Other comprehensive income (loss), net of tax | 1,159 | (1,863) | 2,608 | (1,303) |
Less: Other comprehensive income (loss) from noncontrolling interests, net of tax | (15) | (154) | (43) | 147 |
Cumulative other comprehensive income, end of period | $ 2,948 | $ 2,068 | $ 2,948 | $ 2,068 |
Operating Segments (Details)
Operating Segments (Details) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2016USD ($)segment | Jun. 30, 2015USD ($) | |
Segment Reporting Information [Line Items] | ||||
Number of reportable operating segments | segment | 3 | |||
Financial Information of Operating Segment [Abstract] | ||||
Net interest income | $ 11,733 | $ 11,270 | $ 23,400 | $ 22,256 |
Provision (reversal of provision) for credit losses | 1,074 | 300 | 2,160 | 908 |
Noninterest income | 10,429 | 10,048 | 20,957 | 20,340 |
Noninterest expense | 12,866 | 12,469 | 25,894 | 24,976 |
Income before income tax expense | 8,222 | 8,549 | 16,303 | 16,712 |
Income tax expense (benefit) | 2,649 | 2,763 | 5,216 | 5,042 |
Net income before noncontrolling interests | 5,573 | 5,786 | 11,087 | 11,670 |
Less: Net income from noncontrolling interests | 15 | 67 | 67 | 147 |
Wells Fargo net income | 5,558 | 5,719 | 11,020 | 11,523 |
Average loans | 950,800 | 870,400 | 939,000 | 866,900 |
Average assets | 1,862,100 | 1,729,300 | 1,841,000 | 1,718,600 |
Average Deposits | 1,236,700 | 1,185,300 | 1,228,000 | 1,180,100 |
Other [Member] | ||||
Financial Information of Operating Segment [Abstract] | ||||
Net interest income | (497) | (430) | (989) | (854) |
Provision (reversal of provision) for credit losses | (2) | (3) | 15 | 1 |
Noninterest income | (748) | (805) | (1,487) | (1,599) |
Noninterest expense | (794) | (792) | (1,612) | (1,616) |
Income before income tax expense | (449) | (440) | (879) | (838) |
Income tax expense (benefit) | (171) | (167) | (334) | (319) |
Net income before noncontrolling interests | (278) | (273) | (545) | (519) |
Less: Net income from noncontrolling interests | 0 | 0 | 0 | 0 |
Wells Fargo net income | (278) | (273) | (545) | (519) |
Average loans | (53,000) | (47,400) | (52,000) | (46,600) |
Average assets | (83,400) | (83,500) | (83,800) | (83,700) |
Average Deposits | (75,300) | (70,100) | (75,700) | (70,300) |
Community Banking [Member] | ||||
Financial Information of Operating Segment [Abstract] | ||||
Net interest income | 7,379 | 7,277 | 14,847 | 14,424 |
Provision (reversal of provision) for credit losses | 689 | 397 | 1,409 | 1,055 |
Noninterest income | 4,825 | 4,690 | 9,971 | 9,654 |
Noninterest expense | 6,648 | 6,719 | 13,484 | 13,310 |
Income before income tax expense | 4,867 | 4,851 | 9,925 | 9,713 |
Income tax expense (benefit) | 1,667 | 1,620 | 3,364 | 2,910 |
Net income before noncontrolling interests | 3,200 | 3,231 | 6,561 | 6,803 |
Less: Net income from noncontrolling interests | 21 | 16 | 86 | 41 |
Wells Fargo net income | 3,179 | 3,215 | 6,475 | 6,762 |
Average loans | 485,700 | 472,300 | 485,000 | 472,300 |
Average assets | 967,600 | 910,000 | 957,500 | 909,800 |
Average Deposits | 703,700 | 654,800 | 693,300 | 649,100 |
Wholesale Banking [Member] | ||||
Financial Information of Operating Segment [Abstract] | ||||
Net interest income | 3,919 | 3,591 | 7,667 | 7,028 |
Provision (reversal of provision) for credit losses | 385 | (84) | 748 | (135) |
Noninterest income | 3,365 | 3,019 | 6,575 | 5,991 |
Noninterest expense | 4,036 | 3,504 | 8,004 | 7,122 |
Income before income tax expense | 2,863 | 3,190 | 5,490 | 6,032 |
Income tax expense (benefit) | 795 | 951 | 1,514 | 1,768 |
Net income before noncontrolling interests | 2,068 | 2,239 | 3,976 | 4,264 |
Less: Net income from noncontrolling interests | (5) | 48 | (18) | 99 |
Wells Fargo net income | 2,073 | 2,191 | 3,994 | 4,165 |
Average loans | 451,400 | 386,200 | 440,600 | 383,100 |
Average assets | 772,600 | 713,700 | 760,600 | 702,200 |
Average Deposits | 425,800 | 432,400 | 426,900 | 432,100 |
Wealth and Investment Management [Member] | ||||
Financial Information of Operating Segment [Abstract] | ||||
Net interest income | 932 | 832 | 1,875 | 1,658 |
Provision (reversal of provision) for credit losses | 2 | (10) | (12) | (13) |
Noninterest income | 2,987 | 3,144 | 5,898 | 6,294 |
Noninterest expense | 2,976 | 3,038 | 6,018 | 6,160 |
Income before income tax expense | 941 | 948 | 1,767 | 1,805 |
Income tax expense (benefit) | 358 | 359 | 672 | 683 |
Net income before noncontrolling interests | 583 | 589 | 1,095 | 1,122 |
Less: Net income from noncontrolling interests | (1) | 3 | (1) | 7 |
Wells Fargo net income | 584 | 586 | 1,096 | 1,115 |
Average loans | 66,700 | 59,300 | 65,400 | 58,100 |
Average assets | 205,300 | 189,100 | 206,700 | 190,300 |
Average Deposits | $ 182,500 | $ 168,200 | $ 183,500 | $ 169,200 |
Regulatory and Agency Capita131
Regulatory and Agency Capital Requirements (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Wells Fargo & Company [Member] | Advance Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common equity tier 1 | $ 146,624 | $ 144,247 |
Tier 1 | 169,287 | 164,584 |
Total | 200,125 | 195,153 |
Assets: | ||
Risk-weighted | 1,321,729 | 1,263,182 |
Adjusted average | $ 1,830,527 | $ 1,757,107 |
Regulatory capital ratios: | ||
Common equity tier 1 capital | 11.09% | 11.42% |
Tier 1 capital | 12.81% | 13.03% |
Total capital | 15.14% | 15.45% |
Tier 1 leverage | 9.25% | 9.37% |
Wells Fargo & Company [Member] | Standardized Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common equity tier 1 | $ 146,624 | $ 144,247 |
Tier 1 | 169,287 | 164,584 |
Total | 211,311 | 205,529 |
Assets: | ||
Risk-weighted | 1,354,622 | 1,303,148 |
Adjusted average | $ 1,830,527 | $ 1,757,107 |
Regulatory capital ratios: | ||
Common equity tier 1 capital | 10.82% | 11.07% |
Tier 1 capital | 12.50% | 12.63% |
Total capital | 15.60% | 15.77% |
Tier 1 leverage | 9.25% | 9.37% |
Wells Fargo Bank, NA [Member] | Advance Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common equity tier 1 | $ 130,700 | $ 126,901 |
Tier 1 | 130,700 | 126,901 |
Total | 143,686 | 140,545 |
Assets: | ||
Risk-weighted | 1,173,316 | 1,100,896 |
Adjusted average | $ 1,653,380 | $ 1,584,297 |
Regulatory capital ratios: | ||
Common equity tier 1 capital | 11.14% | 11.53% |
Tier 1 capital | 11.14% | 11.53% |
Total capital | 12.25% | 12.77% |
Tier 1 leverage | 7.91% | 8.01% |
Wells Fargo Bank, NA [Member] | Standardized Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common equity tier 1 | $ 130,700 | $ 126,901 |
Tier 1 | 130,700 | 126,901 |
Total | 154,068 | 149,969 |
Assets: | ||
Risk-weighted | 1,239,031 | 1,197,648 |
Adjusted average | $ 1,653,380 | $ 1,584,297 |
Regulatory capital ratios: | ||
Common equity tier 1 capital | 10.55% | 10.60% |
Tier 1 capital | 10.55% | 10.60% |
Total capital | 12.43% | 12.52% |
Tier 1 leverage | 7.91% | 8.01% |
Regulatory and Agency Capita132
Regulatory and Agency Capital Requirements Minimum Required Regulatory Capital Ratios – Transition Requirements (Details) | Jun. 30, 2016 | Dec. 31, 2015 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Capital Conservation Buffer | 0.625% | |
GSIB Surcharge | 0.50% | |
Advance Approach Under Basel III [Member] | Parent Company [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier One Risk Based Common Equity Required for Capital Adequacy to Risk Weighted Assets | 5.625% | 4.50% |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 7.125% | 6.00% |
Capital Required for Capital Adequacy to Risk Weighted Assets | 9.125% | 8.00% |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% |
Advance Approach Under Basel III [Member] | Wells Fargo Bank, NA [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier One Risk Based Common Equity Required for Capital Adequacy to Risk Weighted Assets | 5.125% | 4.50% |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 6.625% | 6.00% |
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.625% | 8.00% |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% |