Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2017 | Apr. 26, 2017 | |
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 | Mar. 31, 2017 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
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 | 4,997,318,006 |
Consolidated Statement of Incom
Consolidated Statement of Income (Unaudited) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Interest income | |||
Trading assets | $ 643 | $ 596 | |
Investment securities | 2,675 | 2,262 | |
Mortgages held for sale | 184 | 161 | |
Loans held for sale | 1 | 2 | |
Loans | 10,141 | 9,577 | |
Other interest income | 582 | 374 | |
Total interest income | 14,226 | 12,972 | |
Interest expense | |||
Deposits | 537 | 307 | |
Short-term borrowings | 114 | 67 | |
Long-term debt | 1,183 | 842 | |
Other interest expense | 92 | 89 | |
Total interest expense | 1,926 | 1,305 | |
Net interest income | 12,300 | 11,667 | |
Provision for credit losses | 605 | 1,086 | |
Net interest income after provision for credit losses | 11,695 | 10,581 | |
Noninterest income | |||
Service charges on deposit accounts | 1,313 | 1,309 | |
Trust and investment fees | 3,570 | 3,385 | |
Card fees | 945 | 941 | |
Other fees | 865 | 933 | |
Mortgage banking | 1,228 | 1,598 | |
Insurance | 277 | 427 | |
Net gains from trading activities | 439 | 200 | |
Net gains on debt securities | [1] | 36 | 244 |
Net gains from equity investments | [2] | 403 | 244 |
Lease income | 481 | 373 | |
Other | 145 | 874 | |
Total noninterest income | 9,702 | 10,528 | |
Noninterest expense | |||
Salaries | 4,261 | 4,036 | |
Commission and incentive compensation | 2,725 | 2,645 | |
Employee benefits | 1,686 | 1,526 | |
Equipment | 577 | 528 | |
Net occupancy | 712 | 711 | |
Core deposit and other intangibles | 289 | 293 | |
FDIC and other deposit assessments | 333 | 250 | |
Other | 3,209 | 3,039 | |
Total noninterest expense | 13,792 | 13,028 | |
Income before income tax expense | 7,605 | 8,081 | |
Income tax expense | 2,057 | 2,567 | |
Net income before noncontrolling interests | 5,548 | 5,514 | |
Less: Net income from noncontrolling interests | 91 | 52 | |
Wells Fargo net income | 5,457 | 5,462 | |
Less: Preferred stock dividends and other | 401 | 377 | |
Wells Fargo net income applicable to common stock | $ 5,056 | $ 5,085 | |
Per share information | |||
Earnings per common share (in dollars per share) | $ 1.01 | $ 1 | |
Diluted earnings per common share (in dollars per share) | 1 | 0.99 | |
Dividends declared per common share (in dollars per share) | $ 0.380 | $ 0.375 | |
Average common shares outstanding (in shares) | 5,008.6 | 5,075.7 | |
Diluted average common shares outstanding (in shares) | 5,070.4 | 5,139.4 | |
[1] | (1)Total other-than-temporary impairment (OTTI) losses were $43 million and $76 million for first quarter 2017 and 2016, respectively. Of total OTTI, losses of $52 million and $65 million were recognized in earnings, and losses (reversal of losses) of $(9) million and $11 million were recognized as non-credit-related OTTI in other comprehensive income for first quarter 2017 and 2016, respectively. | ||
[2] | (2)Includes OTTI losses of $77 million and $133 million for first quarter 2017 and 2016, respectively. |
Consolidated Statement of Inco3
Consolidated Statement of Income (Unaudited) (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Noninterest income | ||
Total recorded as part of gross realized losses | $ 53 | $ 69 |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Available-for-sale Equity Securities and Nonmarketable Equity Securities | 77 | 133 |
Total debt securities [Member] | ||
Noninterest income | ||
Total OTTI losses (reversal of losses) recorded on debt securities | 43 | 76 |
Total recorded as part of gross realized losses | 52 | 65 |
Total reversal of losses recognized in OCI as non-credit-related impairment | $ (9) | $ 11 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Statement of Comprehensive Income [Abstract] | ||
Wells Fargo net income | $ 5,457 | $ 5,462 |
Investment securities: | ||
Net unrealized gains arising during the period | 369 | 795 |
Reclassification of net gains to net income | (145) | (304) |
Derivatives and hedging activities: | ||
Net unrealized gains (losses) arising during the period | (133) | 1,999 |
Reclassification of net gains on cash flow hedges to net income | (202) | (256) |
Defined benefit plans adjustments: | ||
Net actuarial and prior service losses arising during the period | (7) | (8) |
Amortization of net actuarial loss, settlements and other to net income | 38 | 37 |
Foreign currency translation adjustments: | ||
Net unrealized gains arising during the period | 16 | 43 |
Other comprehensive income (loss), before tax | (64) | 2,306 |
Income tax (expense) benefit related to other comprehensive income | 37 | (857) |
Other comprehensive income (loss), net of tax | (27) | 1,449 |
Less: Other comprehensive income (loss) from noncontrolling interests | 14 | (28) |
Wells Fargo other comprehensive income (loss), net of tax | (41) | 1,477 |
Wells Fargo comprehensive income | 5,416 | 6,939 |
Comprehensive income from noncontrolling interests | 105 | 24 |
Total comprehensive income | $ 5,521 | $ 6,963 |
Consolidated Balance Sheet
Consolidated Balance Sheet - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 | |
Assets | |||
Cash and due from banks | $ 19,698 | $ 20,729 | |
Federal funds sold, securities purchased under resale agreements and other short-term investments | 308,747 | 266,038 | |
Trading assets | 80,326 | 74,397 | |
Investment securities: | |||
Available-for-sale Securities | 299,530 | 308,364 | |
Held-to-maturity, at cost (fair value $107,629 and $99,155) | 108,030 | 99,583 | |
Mortgages held for sale (includes $14,018 and $22,042 carried at fair value) | [1] | 17,822 | 26,309 |
Loans held for sale | 253 | 80 | |
Loans (includes $505 and $758 carried at fair value) | [1] | 958,405 | 967,604 |
Allowance for loan losses | (11,168) | (11,419) | |
Net loans | 947,237 | 956,185 | |
Mortgage servicing rights: | |||
Measured at fair value | 13,208 | 12,959 | |
Amortized | 1,402 | 1,406 | |
Premises and equipment, net | 8,320 | 8,333 | |
Goodwill | 26,666 | 26,693 | |
Net amounts in consolidated balance sheet, assets | 12,564 | 14,498 | |
Other assets (includes $3,780 and $3,275 carried at fair value) | [1] | 107,761 | 114,541 |
Total assets | [2] | 1,951,564 | 1,930,115 |
Liabilities | |||
Noninterest-bearing deposits | 365,780 | 375,967 | |
Interest-bearing deposits | 959,664 | 930,112 | |
Total deposits | 1,325,444 | 1,306,079 | |
Short-term borrowings | 94,871 | 96,781 | |
Net amounts in consolidated balance sheet, liabilities | 12,461 | 14,492 | |
Accrued expenses and other liabilities | 59,831 | 57,189 | |
Long-term debt | 256,468 | 255,077 | |
Total liabilities | [3] | 1,749,075 | 1,729,618 |
Wells Fargo stockholders' equity: | |||
Preferred stock | 25,501 | 24,551 | |
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 | 60,585 | 60,234 | |
Retained earnings | 136,032 | 133,075 | |
Cumulative other comprehensive income | (3,178) | (3,137) | |
Treasury stock – 485,076,875 shares and 465,702,148 shares | (24,030) | (22,713) | |
Unearned ESOP shares | (2,546) | (1,565) | |
Total Wells Fargo stockholders' equity | 201,500 | 199,581 | |
Noncontrolling interests | 989 | 916 | |
Total equity | 202,489 | 200,497 | |
Total liabilities and equity | $ 1,951,564 | $ 1,930,115 | |
[1] | Parenthetical amounts represent assets and liabilities for which we have elected the fair value option. | ||
[2] | Our consolidated assets at March 31, 2017, and December 31, 2016, 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, $128 million and $168 million; Federal funds sold, securities purchased under resale agreements and other short-term investments, $485 million and $74 million; Trading assets, $126 million and $130 million; Investment securities, $0 million at both period ends; Net loans, $13.1 billion and $12.6 billion; Derivative assets, $1 million and $1 million; Other assets, $361 million and $452 million; and Total assets, $14.2 billion and $13.4 billion, respectively. | ||
[3] | Our consolidated liabilities at March 31, 2017, and December 31, 2016, include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Derivative liabilities, $30 million and $33 million; Accrued expenses and other liabilities, $103 million and $107 million; Long-term debt, $3.6 billion and $3.7 billion; and Total liabilities, $3.8 billion at both period ends, respectively. |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 | |
Assets | |||
Cash and due from banks | $ 19,698 | $ 20,729 | |
Federal Funds Sold Securities Purchased Under Resale Agreements And Other Short Term Investments | 308,747 | 266,038 | |
Trading Assets | 80,326 | 74,397 | |
Investment securities | 407,159 | 407,519 | |
Held-to-maturity, at fair value | 107,629 | 99,155 | |
Mortgages held for sale, carried at fair value | 14,018 | 22,042 | |
Loans Receivable, Fair Value Disclosure | 505 | 758 | |
Net loans | 947,237 | 956,185 | |
Net amounts in consolidated balance sheet, assets | 12,564 | 14,498 | |
Other assets | [1] | 107,761 | 114,541 |
Other assets, carried at fair value | 3,780 | 3,275 | |
Liabilities | |||
Accrued expenses and other liabilities | 59,831 | 57,189 | |
Long-term debt | 256,468 | 255,077 | |
Total liabilities | [2] | 1,749,075 | 1,729,618 |
Wells Fargo stockholders' equity: | |||
Total assets | [3] | $ 1,951,564 | $ 1,930,115 |
Common stock, par value | $ 1.6666 | $ 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 | 485,076,875 | 465,702,148 | |
Net amounts in consolidated balance sheet, liabilities | $ 12,461 | $ 14,492 | |
VIEs that we consolidate [Member] | |||
Assets | |||
Cash and due from banks | 128 | 168 | |
Federal Funds Sold Securities Purchased Under Resale Agreements And Other Short Term Investments | 485 | 74 | |
Trading Assets | 126 | 130 | |
Investment securities | 0 | 0 | |
Net loans | 13,100 | 12,600 | |
Net amounts in consolidated balance sheet, assets | 1 | 1 | |
Other assets | 361 | 452 | |
Liabilities | |||
Accrued expenses and other liabilities | 103 | 107 | |
Long-term debt | 3,640 | 3,694 | |
Total liabilities | 3,773 | 3,834 | |
Wells Fargo stockholders' equity: | |||
Total assets | 14,157 | 13,414 | |
Net amounts in consolidated balance sheet, liabilities | 30 | 33 | |
Vies That We Consolidate No Recourse [Member] | |||
Liabilities | |||
Accrued expenses and other liabilities | 103 | 107 | |
Long-term debt | 3,600 | 3,700 | |
Total liabilities | $ 3,800 | $ 3,800 | |
[1] | Parenthetical amounts represent assets and liabilities for which we have elected the fair value option. | ||
[2] | Our consolidated liabilities at March 31, 2017, and December 31, 2016, include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Derivative liabilities, $30 million and $33 million; Accrued expenses and other liabilities, $103 million and $107 million; Long-term debt, $3.6 billion and $3.7 billion; and Total liabilities, $3.8 billion at both period ends, respectively. | ||
[3] | Our consolidated assets at March 31, 2017, and December 31, 2016, 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, $128 million and $168 million; Federal funds sold, securities purchased under resale agreements and other short-term investments, $485 million and $74 million; Trading assets, $126 million and $130 million; Investment securities, $0 million at both period ends; Net loans, $13.1 billion and $12.6 billion; Derivative assets, $1 million and $1 million; Other assets, $361 million and $452 million; and Total assets, $14.2 billion and $13.4 billion, respectively. |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity (Unaudited) - USD ($) $ 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] | |
Stockholders' Equity Period Increase (Decrease) | |||||||||||
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 | 893 | |||||||||
Beginning balance, shares at Dec. 31, 2015 | 11,259,917 | 5,092,128,810 | |||||||||
Stockholders' Equity Period Increase (Decrease) | |||||||||||
Net income | 5,462 | 5,462 | 5,462 | ||||||||
Net income attributable to noncontrolling interests | 52 | 52 | |||||||||
Net income | 5,514 | ||||||||||
Other comprehensive income (loss) attributable to parent, net of tax | 1,477 | 1,477 | 1,477 | ||||||||
Other comprehensive income (loss) attributable to noncontrolling interest, net of tax | (28) | (28) | |||||||||
Other comprehensive income (loss), net of tax | 1,449 | ||||||||||
Noncontrolling interests, adjustments to Additional Paid in Capital | 1 | 1 | |||||||||
Noncontrolling interests | (30) | ||||||||||
Total change in noncontrolling interests | (29) | ||||||||||
Common stock issued | 1,079 | 1,079 | (160) | (140) | 1,379 | ||||||
Common stock, shares issued | 28,984,457 | ||||||||||
Common stock repurchased | (2,029) | (2,029) | 500 | (2,529) | |||||||
Common stock repurchased, shares | (51,674,544) | ||||||||||
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 | 313 | 313 | (27) | 340 | |||||||
Preferred stock converted to common shares | 0 | 0 | $ (313) | 1 | 312 | ||||||
Preferred stock converted to common shares, shares | (312,927) | 6,464,167 | |||||||||
Common stock warrants repurchased/exercised | 0 | 0 | 0 | ||||||||
Preferred stock issued | 975 | 975 | $ 1,000 | (25) | |||||||
Preferred stock, shares issued | 40,000 | ||||||||||
Common stock dividends | (1,904) | (1,904) | 15 | (1,919) | |||||||
Preferred stock dividends | (378) | (378) | (378) | ||||||||
Tax benefit from stock incentive compensation | 149 | 149 | 149 | ||||||||
Stock incentive compensation expense | 369 | 369 | 369 | ||||||||
Net change in deferred compensation and related plans | (1,016) | (1,016) | (1,034) | 18 | |||||||
Net change | 4,492 | 4,498 | $ 1,837 | $ 0 | (112) | 3,025 | 1,477 | (820) | (909) | (6) | |
Net change, shares | 877,073 | (16,225,920) | |||||||||
Ending balance at Mar. 31, 2016 | 198,504 | 197,496 | $ 24,051 | $ 9,136 | 60,602 | 123,891 | 1,774 | (19,687) | (2,271) | 1,008 | |
Ending balance, shares at Mar. 31, 2016 | 12,136,990 | 5,075,902,890 | |||||||||
Beginning balance at Dec. 31, 2016 | 200,497 | 199,581 | $ 24,551 | $ 9,136 | 60,234 | 133,075 | (3,137) | (22,713) | (1,565) | 916 | |
Beginning balance, shares at Dec. 31, 2016 | 11,532,712 | 5,016,109,326 | |||||||||
Stockholders' Equity Period Increase (Decrease) | |||||||||||
Net income | 5,457 | 5,457 | 5,457 | ||||||||
Net income attributable to noncontrolling interests | 91 | 91 | |||||||||
Net income | 5,548 | ||||||||||
Other comprehensive income (loss) attributable to parent, net of tax | (41) | (41) | (41) | ||||||||
Other comprehensive income (loss) attributable to noncontrolling interest, net of tax | 14 | 14 | |||||||||
Other comprehensive income (loss), net of tax | (27) | ||||||||||
Noncontrolling interests, adjustments to Additional Paid in Capital | 2 | 2 | |||||||||
Noncontrolling interests | (32) | ||||||||||
Total change in noncontrolling interests | (30) | ||||||||||
Common stock issued | 1,406 | 1,406 | 3 | (184) | 1,587 | ||||||
Common stock, shares issued | 33,699,497 | ||||||||||
Common stock repurchased | (2,175) | (2,175) | 750 | (2,925) | |||||||
Common stock repurchased, shares | (53,074,224) | ||||||||||
Preferred stock issued to ESOP | 0 | 0 | $ 950 | 31 | (981) | ||||||
Preferred stock issued to ESOP, shares | 950,000 | ||||||||||
Preferred stock released by ESOP | 0 | 0 | 0 | 0 | |||||||
Preferred stock converted to common shares | 0 | 0 | $ 0 | 0 | 0 | ||||||
Preferred stock converted to common shares, shares | 0 | 0 | |||||||||
Common stock warrants repurchased/exercised | (44) | (44) | (44) | ||||||||
Preferred stock issued | 0 | 0 | $ 0 | 0 | |||||||
Preferred stock, shares issued | 0 | ||||||||||
Common stock dividends | (1,903) | (1,903) | 12 | (1,915) | |||||||
Preferred stock dividends | (401) | (401) | (401) | ||||||||
Tax benefit from stock incentive compensation | [1] | 0 | 0 | 0 | |||||||
Stock incentive compensation expense | 389 | 389 | 389 | ||||||||
Net change in deferred compensation and related plans | (771) | (771) | (792) | 21 | |||||||
Net change | 1,992 | 1,919 | $ 950 | $ 0 | 351 | 2,957 | (41) | (1,317) | (981) | 73 | |
Net change, shares | 950,000 | (19,374,727) | |||||||||
Ending balance at Mar. 31, 2017 | $ 202,489 | $ 201,500 | $ 25,501 | $ 9,136 | $ 60,585 | $ 136,032 | $ (3,178) | $ (24,030) | $ (2,546) | $ 989 | |
Ending balance, shares at Mar. 31, 2017 | 12,482,712 | 4,996,734,599 | |||||||||
[1] | (2)Effective January 1, 2017, we adopted Accounting Standards Update 2016-09 (Improvements to Employee Share-Based Payment Accounting). Accordingly, tax benefit from stock incentive compensation is reported in income tax expense in the consolidated statement of income. |
Consolidated Statement of Chan8
Consolidated Statement of Changes in Equity (Unaudited) (Parenthetical) $ in Millions | Jan. 01, 2016USD ($) | |
Noncontrolling Interest [Member] | ||
Consolidated Statement of Changes in Equity (Textuals) [Abstract] | ||
Cumulative effect from change in consolidation accounting | $ 121 | [1] |
[1] | (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 | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Cash flows from operating activities: | |||
Net income before noncontrolling interests | $ 5,548 | $ 5,514 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for credit losses | 605 | 1,086 | |
Changes in fair value of MSRs, MHFS and LHFS carried at fair value | 8 | 883 | |
Depreciation, amortization and accretion | 1,237 | 1,295 | |
Other net (gains) losses | (961) | 1,855 | |
Stock-based compensation | 740 | 716 | |
Originations and purchases of MHFS and LHFS (1) | [1] | (37,675) | (37,114) |
Proceeds from sales of and paydowns on mortgages originated for sale and LHFS (1) | [1] | 25,270 | 29,605 |
Net change in: | |||
Trading assets (1) | [1] | 14,721 | 12,234 |
Deferred income taxes | 1,007 | (1,240) | |
Derivative assets and liabilities (1) | [1] | (481) | 292 |
Other assets (1) | [1] | 3,553 | (10,202) |
Other accrued expenses and liabilities (1) | [1] | (381) | 990 |
Net cash provided by operating activities | 13,191 | 5,914 | |
Net change in: | |||
Federal funds sold, securities purchased under resale agreements and other short-term investments | (39,716) | (30,518) | |
Available-for-sale securities: | |||
Sales proceeds | 3,231 | 13,058 | |
Prepayments and maturities | 11,016 | 6,651 | |
Purchases | (14,495) | (5,321) | |
Held-to-maturity securities: | |||
Paydowns and maturities | 1,470 | 997 | |
Nonmarketable equity investments: | |||
Sales proceeds | 1,016 | 529 | |
Purchases | (442) | (995) | |
Loans: | |||
Loans originated by banking subsidiaries, net of principal collected | 5,153 | (9,798) | |
Proceeds from sales (including participations) of loans held for investment | 2,504 | 2,134 | |
Purchases (including participations) of loans | (1,148) | (727) | |
Principal collected on nonbank entities’ loans | 3,881 | 3,376 | |
Loans originated by nonbank entities | (3,050) | (2,875) | |
Net cash paid for acquisitions | (46) | (28,904) | |
Proceeds from sales of foreclosed assets and short sales | 1,519 | 1,859 | |
Other, net (1) | [1] | (166) | 168 |
Net cash used by investing activities | (29,273) | (50,366) | |
Net change in: | |||
Deposits | 19,365 | 18,178 | |
Short-term borrowings | (1,064) | 10,175 | |
Long-term debt: | |||
Proceeds from issuance | 12,975 | 23,934 | |
Repayment | (11,937) | (4,523) | |
Preferred stock: | |||
Proceeds from issuance | 0 | 975 | |
Cash dividends paid | (408) | (386) | |
Common stock: | |||
Proceeds from issuance | 572 | 479 | |
Stock tendered for payment of withholding taxes (1) | [1] | (359) | (468) |
Repurchased | (2,175) | (2,029) | |
Cash dividends paid | (1,859) | (1,858) | |
Net change in noncontrolling interests | (30) | (32) | |
Other, net | (29) | (20) | |
Net cash provided by financing activities | 15,051 | 44,425 | |
Net change in cash and due from banks | (1,031) | (27) | |
Cash and due from banks at beginning of period | 20,729 | 19,111 | |
Cash and due from banks at end of period | 19,698 | 19,084 | |
Supplemental cash flow disclosures: | |||
Cash paid for interest | 1,612 | 1,054 | |
Cash paid for income taxes | $ 215 | $ 138 | |
[1] | Prior periods have been revised to conform to the current period presentation. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2017 | |
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 branches, 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, 2016 ( 2016 Form 10-K). There were no material changes to these policies in the first quarter 2017 . 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 2016 Form 10-K. Accounting Standards Adopted in 2017 In first quarter 2017 , we adopted the following new accounting guidance: • Accounting Standards Update (ASU or Update) 2016-09 – Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting; • ASU 2016-07 - Investments - Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting; • ASU 2016-06 - Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments; and • ASU 2016-05 - Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships. ASU 2016-09 Simplifies the accounting for share-based payment awards issued to employees. We have income tax effects based on changes in our stock price from the grant date to the vesting date of the employee stock compensation. The Update requires these income tax effects to be recognized in the statement of income within income tax expense instead of within additional paid-in capital. In addition, the Update requires changes to the Statement of Cash Flows including the classification between the operating and financing section for tax activity related to employee stock compensation, which we adopted retrospectively. We recorded excess tax benefits and tax deficiencies within income tax expense in the statement of income in first quarter 2017, on a prospective basis. ASU 2016-07 eliminates the requirement for companies to retroactively apply the equity method of accounting for investments when increases in ownership interests or degree of influence result in the adoption of the equity method. Under the guidance, the equity method should be applied prospectively in the period in which the ownership changes occur. We adopted this change in first quarter 2017. The Update did not impact our consolidated financial statements, as the standard is applied on a prospective basis. ASU 2016-06 clarifies the criteria entities should use when evaluating whether embedded contingent put and call options in debt instruments should be separated from the debt instrument and accounted for separately as derivatives. The Update clarifies that companies should not consider whether the event that triggers the ability to exercise put or call options is related to interest rates or credit risk. We adopted this change in first quarter 2017. The Update did not have a material impact on our consolidated financial statements. ASU 2016-05 clarifies that a change in the counterparty to a derivative instrument that has been designated as an accounting hedge does not require the hedging relationship to be dedesignated as long as all other hedge accounting criteria continue to be met. We adopted the guidance in first quarter 2017. The Update did not have a material impact on our consolidated financial statements. Accounting Standards with Retrospective Application The following accounting pronouncement has been issued by the FASB but is not yet effective: • ASU 2016-15 – Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. ASU 2016-15 addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice for reporting in the Statement of Cash Flows. The Update is effective for us in first quarter 2018 with retrospective application. We are evaluating the impact the Update will have on our consolidated financial statements. 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 both March 31, 2017 and March 31, 2016 . SUPPLEMENTAL CASH FLOW INFORMATION Significant noncash activities are presented below. Table 1.1: Supplemental Cash Flow Information Quarter ended March 31, (in millions) 2017 2016 Trading assets retained from securitization of MHFS $ 20,929 9,955 Transfers from loans to MHFS 1,657 1,839 Transfers from available-for-sale to held-to-maturity securities 9,897 — SUBSEQUENT EVENTS We have evaluated the effects of events that have occurred subsequent to March 31, 2017 , and there have been no material events that would require recognition in our first quarter 2017 consolidated financial statements or disclosure in the Notes to the consolidated financial statements. |
Business Combinations
Business Combinations | 3 Months Ended |
Mar. 31, 2017 | |
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). During first quarter 2017 , we finalized the related purchase accounting of our 2016 acquisition of GE Capital's Commercial Distribution Finance and Vendor Finance businesses. We completed no acquisitions during first quarter 2017 , and had no business combinations pending as of March 31, 2017 . |
Federal Funds Sold, Securities
Federal Funds Sold, Securities Purchased under Resale Agreements and Other Short-Term Investments | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 , and December 31, 2016 , were held at Federal Reserve Banks. Table 3.1: Fed Funds Sold and Other Short-Term Investments (in millions) Mar 31, Dec 31, Federal funds sold and securities purchased under resale agreements $ 68,457 58,215 Interest-earning deposits 227,635 200,671 Other short-term investments 12,655 7,152 Total $ 308,747 266,038 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 $1.7 billion and $2.9 billion as of March 31, 2017 , and December 31, 2016 , respectively. We have classified securities purchased under long-term resale agreements (generally one year or more), which totaled $21.2 billion and $21.3 billion at March 31, 2017 , and December 31, 2016 , 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 | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ 24,681 43 (99 ) 24,625 Securities of U.S. states and political subdivisions 52,747 624 (1,310 ) 52,061 Mortgage-backed securities: Federal agencies 159,098 1,042 (3,174 ) 156,966 Residential 7,146 457 (10 ) 7,593 Commercial 6,595 93 (48 ) 6,640 Total mortgage-backed securities 172,839 1,592 (3,232 ) 171,199 Corporate debt securities 10,097 418 (85 ) 10,430 Collateralized loan and other debt obligations (1) 33,686 341 (18 ) 34,009 Other (2) 5,963 139 (21 ) 6,081 Total debt securities 300,013 3,157 (4,765 ) 298,405 Marketable equity securities: Perpetual preferred securities 467 21 (6 ) 482 Other marketable equity securities 208 436 (1 ) 643 Total marketable equity securities 675 457 (7 ) 1,125 Total available-for-sale securities 300,688 3,614 (4,772 ) 299,530 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies 44,697 518 (61 ) 45,154 Securities of U.S. states and political subdivisions 6,331 28 (120 ) 6,239 Federal agency and other mortgage-backed securities (3) 53,778 91 (870 ) 52,999 Collateralized loan obligations 1,011 5 — 1,016 Other (2) 2,213 9 (1 ) 2,221 Total held-to-maturity securities 108,030 651 (1,052 ) 107,629 Total $ 408,718 4,265 (5,824 ) 407,159 December 31, 2016 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ 25,874 54 (109 ) 25,819 Securities of U.S. states and political subdivisions 52,121 551 (1,571 ) 51,101 Mortgage-backed securities: Federal agencies 163,513 1,175 (3,458 ) 161,230 Residential 7,375 449 (8 ) 7,816 Commercial 8,475 101 (74 ) 8,502 Total mortgage-backed securities 179,363 1,725 (3,540 ) 177,548 Corporate debt securities 11,186 381 (110 ) 11,457 Collateralized loan and other debt obligations (1) 34,764 287 (31 ) 35,020 Other (2) 6,139 104 (35 ) 6,208 Total debt securities 309,447 3,102 (5,396 ) 307,153 Marketable equity securities: Perpetual preferred securities 445 35 (11 ) 469 Other marketable equity securities 261 481 — 742 Total marketable equity securities 706 516 (11 ) 1,211 Total available-for-sale securities 310,153 3,618 (5,407 ) 308,364 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies 44,690 466 (77 ) 45,079 Securities of U.S. states and political subdivisions 6,336 17 (144 ) 6,209 Federal agency and other mortgage-backed securities (3) 45,161 100 (804 ) 44,457 Collateralized loan obligations 1,065 6 (1 ) 1,070 Other (2) 2,331 10 (1 ) 2,340 Total held-to-maturity securities 99,583 599 (1,027 ) 99,155 Total $ 409,736 4,217 (6,434 ) 407,519 (1) The available-for-sale portfolio includes collateralized debt obligations (CDOs) with a cost basis and fair value of $875 million and $945 million , respectively, at March 31, 2017 , and $819 million and $847 million , respectively, at December 31, 2016 . (2) The “Other” category of available-for-sale securities largely includes asset-backed securities collateralized by student loans. 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 $1.2 billion each at March 31, 2017 , and $1.3 billion each at December 31, 2016 . 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 both March 31, 2017 and December 31, 2016 . (3) Predominantly consists of federal agency mortgage-backed securities at both March 31, 2017 and December 31, 2016 . 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 March 31, 2017 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ (99 ) 11,090 — — (99 ) 11,090 Securities of U.S. states and political subdivisions (210 ) 14,826 (1,100 ) 16,070 (1,310 ) 30,896 Mortgage-backed securities: Federal agencies (3,066 ) 112,495 (108 ) 3,358 (3,174 ) 115,853 Residential (5 ) 389 (5 ) 240 (10 ) 629 Commercial (30 ) 974 (18 ) 1,084 (48 ) 2,058 Total mortgage-backed securities (3,101 ) 113,858 (131 ) 4,682 (3,232 ) 118,540 Corporate debt securities (7 ) 883 (78 ) 878 (85 ) 1,761 Collateralized loan and other debt obligations (2 ) 1,366 (16 ) 1,399 (18 ) 2,765 Other (6 ) 727 (15 ) 988 (21 ) 1,715 Total debt securities (3,425 ) 142,750 (1,340 ) 24,017 (4,765 ) 166,767 Marketable equity securities: Perpetual preferred securities (1 ) 61 (5 ) 48 (6 ) 109 Other marketable equity securities (1 ) 5 — — (1 ) 5 Total marketable equity securities (2 ) 66 (5 ) 48 (7 ) 114 Total available-for-sale securities (3,427 ) 142,816 (1,345 ) 24,065 (4,772 ) 166,881 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies (61 ) 4,772 — — (61 ) 4,772 Securities of U.S. states and political subdivisions (120 ) 4,497 — — (120 ) 4,497 Federal agency and other mortgage-backed securities (870 ) 48,779 — — (870 ) 48,779 Collateralized loan obligations — — — — — — Other — — (1 ) 178 (1 ) 178 Total held-to-maturity securities (1,051 ) 58,048 (1 ) 178 (1,052 ) 58,226 Total $ (4,478 ) 200,864 (1,346 ) 24,243 (5,824 ) 225,107 December 31, 2016 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ (109 ) 10,816 — — (109 ) 10,816 Securities of U.S. states and political subdivisions (341 ) 17,412 (1,230 ) 16,213 (1,571 ) 33,625 Mortgage-backed securities: Federal agencies (3,338 ) 120,735 (120 ) 3,481 (3,458 ) 124,216 Residential (4 ) 527 (4 ) 245 (8 ) 772 Commercial (43 ) 1,459 (31 ) 1,690 (74 ) 3,149 Total mortgage-backed securities (3,385 ) 122,721 (155 ) 5,416 (3,540 ) 128,137 Corporate debt securities (11 ) 946 (99 ) 1,229 (110 ) 2,175 Collateralized loan and other debt obligations (2 ) 1,899 (29 ) 3,197 (31 ) 5,096 Other (9 ) 971 (26 ) 1,262 (35 ) 2,233 Total debt securities (3,857 ) 154,765 (1,539 ) 27,317 (5,396 ) 182,082 Marketable equity securities: Perpetual preferred securities (3 ) 41 (8 ) 45 (11 ) 86 Other marketable equity securities — — — — — — Total marketable equity securities (3 ) 41 (8 ) 45 (11 ) 86 Total available-for-sale securities (3,860 ) 154,806 (1,547 ) 27,362 (5,407 ) 182,168 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies (77 ) 6,351 — — (77 ) 6,351 Securities of U.S. states and political subdivisions (144 ) 4,871 — — (144 ) 4,871 Federal agency and other mortgage-backed securities (804 ) 40,095 — — (804 ) 40,095 Collateralized loan obligations — — (1 ) 266 (1 ) 266 Other — — (1 ) 633 (1 ) 633 Total held-to-maturity securities (1,025 ) 51,317 (2 ) 899 (1,027 ) 52,216 Total $ (4,885 ) 206,123 (1,549 ) 28,261 (6,434 ) 234,384 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 2016 Form 10-K. There were no material changes to our methodologies for assessing impairment in first quarter 2017. 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 $38 million and $5.9 billion , respectively, at March 31, 2017 , and $54 million and $7.0 billion , respectively, at December 31, 2016 . 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 March 31, 2017 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ (99 ) 11,090 — — Securities of U.S. states and political subdivisions (1,262 ) 30,538 (48 ) 358 Mortgage-backed securities: Federal agencies (3,174 ) 115,853 — — Residential (1 ) 105 (9 ) 524 Commercial (8 ) 1,562 (40 ) 496 Total mortgage-backed securities (3,183 ) 117,520 (49 ) 1,020 Corporate debt securities (23 ) 972 (62 ) 789 Collateralized loan and other debt obligations (18 ) 2,765 — — Other (16 ) 1,307 (5 ) 408 Total debt securities (4,601 ) 164,192 (164 ) 2,575 Perpetual preferred securities (5 ) 90 (1 ) 19 Total available-for-sale securities (4,606 ) 164,282 (165 ) 2,594 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies (61 ) 4,772 — — Securities of U.S. states and political subdivisions (120 ) 4,497 — — Federal agency and other mortgage-backed securities (869 ) 48,711 (1 ) 68 Collateralized loan obligations — — — — Other (1 ) 178 — — Total held-to-maturity securities (1,051 ) 58,158 (1 ) 68 Total $ (5,657 ) 222,440 (166 ) 2,662 December 31, 2016 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ (109 ) 10,816 — — Securities of U.S. states and political subdivisions (1,517 ) 33,271 (54 ) 354 Mortgage-backed securities: Federal agencies (3,458 ) 124,216 — — Residential (1 ) 176 (7 ) 596 Commercial (15 ) 2,585 (59 ) 564 Total mortgage-backed securities (3,474 ) 126,977 (66 ) 1,160 Corporate debt securities (31 ) 1,238 (79 ) 937 Collateralized loan and other debt obligations (31 ) 5,096 — — Other (30 ) 1,842 (5 ) 391 Total debt securities (5,192 ) 179,240 (204 ) 2,842 Perpetual preferred securities (10 ) 68 (1 ) 18 Total available-for-sale securities (5,202 ) 179,308 (205 ) 2,860 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies (77 ) 6,351 — — Securities of U.S. states and political subdivisions (144 ) 4,871 — — Federal agency and other mortgage-backed securities (803 ) 40,078 (1 ) 17 Collateralized loan obligations (1 ) 266 — — Other (1 ) 633 — — Total held-to-maturity securities (1,026 ) 52,199 (1 ) 17 Total $ (6,228 ) 231,507 (206 ) 2,877 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 March 31, 2017 Available-for-sale debt securities (1): Fair value: Securities of U.S. Treasury and federal agencies $ 24,625 1.45 % $ 1,322 0.92 % $ 22,288 1.46 % $ 1,015 1.80 % $ — — % Securities of U.S. states and political subdivisions 52,061 5.68 2,590 1.80 9,990 2.86 2,597 4.65 36,884 6.78 Mortgage-backed securities: Federal agencies 156,966 3.11 1 5.16 107 3.07 5,564 3.08 151,294 3.11 Residential 7,593 3.84 — — 26 5.50 23 3.85 7,544 3.84 Commercial 6,640 4.40 — — — — 31 3.13 6,609 4.40 Total mortgage-backed securities 171,199 3.20 1 5.16 133 3.54 5,618 3.08 165,447 3.20 Corporate debt securities 10,430 4.92 1,467 3.70 3,124 5.79 4,696 4.63 1,143 5.35 Collateralized loan and other debt obligations 34,009 2.81 — — 153 1.84 17,841 2.77 16,015 2.86 Other 6,081 2.37 40 3.21 871 2.41 1,170 2.24 4,000 2.39 Total available-for-sale debt securities at fair value $ 298,405 3.48 % $ 5,420 2.11 % $ 36,559 2.25 % $ 32,937 3.19 % $ 223,489 3.76 % December 31, 2016 Available-for-sale debt securities (1): ` Fair value: Securities of U.S. Treasury and federal agencies $ 25,819 1.44 % $ 1,328 0.92 % $ 23,477 1.45 % $ 1,014 1.80 % $ — — % Securities of U.S. states and political subdivisions 51,101 5.65 2,990 1.69 9,299 2.74 2,391 4.71 36,421 6.78 Mortgage-backed securities: Federal agencies 161,230 3.09 — — 128 2.98 5,363 3.16 155,739 3.09 Residential 7,816 3.84 — — 25 5.21 35 4.34 7,756 3.83 Commercial 8,502 4.58 — — — — 30 3.13 8,472 4.59 Total mortgage-backed securities 177,548 3.19 — — 153 3.34 5,428 3.16 171,967 3.19 Corporate debt securities 11,457 4.81 2,043 2.90 3,374 5.89 4,741 4.71 1,299 5.38 Collateralized loan and other debt obligations 35,020 2.70 — — 168 1.34 16,482 2.66 18,370 2.74 Other 6,208 2.18 57 3.06 971 2.35 1,146 2.04 4,034 2.17 Total available-for-sale debt securities at fair value $ 307,153 3.44 % $ 6,418 1.93 % $ 37,442 2.20 % $ 31,202 3.17 % $ 232,091 3.72 % (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 March 31, 2017 Held-to-maturity securities (1): Amortized cost: Securities of U.S. Treasury and federal agencies $ 44,697 2.12 % $ — — % $ 32,311 2.04 % $ 12,386 2.32 % $ — — % Securities of U.S. states and political subdivisions 6,331 6.04 — — 24 8.20 470 6.72 5,837 5.98 Federal agency and other mortgage-backed securities 53,778 3.19 — — — — — — 53,778 3.19 Collateralized loan obligations 1,011 2.66 — — — — 1,011 2.66 — — Other 2,213 2.00 — — 1,565 1.95 648 2.13 — — Total held-to-maturity debt securities at amortized cost $ 108,030 2.88 % $ — — % $ 33,900 2.04 % $ 14,515 2.48 % $ 59,615 3.46 % December 31, 2016 Held-to-maturity securities (1): Amortized cost: Securities of U.S. Treasury and federal agencies $ 44,690 2.12 % $ — — % $ 31,956 2.05 % $ 12,734 2.30 % $ — — % Securities of U.S. states and political subdivisions 6,336 6.04 — — 24 8.20 436 6.76 5,876 5.98 Federal agency and other mortgage-backed securities 45,161 3.23 — — — — — — 45,161 3.23 Collateralized loan obligations 1,065 2.58 — — — — 1,065 2.58 — — Other 2,331 1.83 — — 1,683 1.81 648 1.89 — — Total held-to-maturity debt securities at amortized cost $ 99,583 2.87 % $ — — % $ 33,663 2.04 % $ 14,883 2.43 % $ 51,037 3.55 % (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 March 31, 2017 Held-to-maturity securities: Fair value: Securities of U.S. Treasury and federal agencies $ 45,154 — 32,686 12,468 — Securities of U.S. states and political subdivisions 6,239 — 24 469 5,746 Federal agency and other mortgage-backed securities 52,999 — — — 52,999 Collateralized loan obligations 1,016 — — 1,016 — Other 2,221 — 1,568 653 — Total held-to-maturity debt securities at fair value $ 107,629 — 34,278 14,606 58,745 December 31, 2016 Held-to-maturity securities: Fair value: Securities of U.S. Treasury and federal agencies $ 45,079 — 32,313 12,766 — Securities of U.S. states and political subdivisions 6,209 — 24 430 5,755 Federal agency and other mortgage-backed securities 44,457 — — — 44,457 Collateralized loan obligations 1,070 — — 1,070 — Other 2,340 — 1,688 652 — Total held-to-maturity debt securities at fair value $ 99,155 — 34,025 14,918 50,212 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 March 31, (in millions) 2017 2016 Gross realized gains $ 241 385 Gross realized losses (36 ) (13 ) OTTI write-downs (53 ) (69 ) Net realized gains from available-for-sale securities 152 303 Net realized gains from nonmarketable equity investments 287 185 Net realized gains from debt securities and equity investments $ 439 488 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 first quarter 2017 and 2016 . Table 4.8: OTTI Write-downs Quarter ended March 31, (in millions) 2017 2016 OTTI write-downs included in earnings Debt securities: Securities of U.S. states and political subdivisions $ 8 4 Mortgage-backed securities: Residential 3 12 Commercial 25 1 Corporate debt securities 16 45 Other debt securities — 3 Total debt securities 52 65 Equity securities: Marketable equity securities: Other marketable equity securities 1 4 Total marketable equity securities 1 4 Total investment securities (1) 53 69 Nonmarketable equity investments (1) 76 129 Total OTTI write-downs included in earnings (1) $ 129 198 (1) The quarters ended March 31, 2017 and March 31, 2016 , include $39 million and $124 million , respectively, in OTTI write-downs of oil and gas investments, of which $15 million and $46 million , respectively, related to investment securities and $24 million and $78 million , respectively, 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 March 31, (in millions) 2017 2016 OTTI on debt securities Recorded as part of gross realized losses: Credit-related OTTI $ 52 61 Intent-to-sell OTTI — 4 Total recorded as part of gross realized losses 52 65 Changes to OCI for losses (reversal of losses) in non-credit-related OTTI (1): Securities of U.S. states and political subdivisions (5 ) — Residential mortgage-backed securities 3 10 Commercial mortgage-backed securities (7 ) 3 Corporate debt securities — (4 ) Other debt securities — 2 Total changes to OCI for non-credit-related OTTI (9 ) 11 Total OTTI losses recorded on debt securities $ 43 76 (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 March 31, (in millions) 2017 2016 Credit loss recognized, beginning of period $ 1,043 1,092 Additions: For securities with initial credit impairments 6 38 For securities with previous credit impairments 46 23 Total additions 52 61 Reductions: For securities sold, matured, or intended/required to be sold (7 ) (6 ) For recoveries of previous credit impairments (1) (2 ) (2 ) Total reductions (9 ) (8 ) Credit loss recognized, end of period $ 1,086 1,145 (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 | 3 Months Ended |
Mar. 31, 2017 | |
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 $4.3 billion and $4.4 billion at March 31, 2017 , and December 31, 2016 , respectively, for unearned income, net deferred loan fees, and unamortized discounts and premiums. Table 5.1: Loans Outstanding (in millions) Mar 31, Dec 31, Commercial: Commercial and industrial $ 329,252 330,840 Real estate mortgage 131,532 132,491 Real estate construction 25,064 23,916 Lease financing 19,156 19,289 Total commercial 505,004 506,536 Consumer: Real estate 1-4 family first mortgage 274,633 275,579 Real estate 1-4 family junior lien mortgage 44,333 46,237 Credit card 34,742 36,700 Automobile 60,408 62,286 Other revolving credit and installment 39,285 40,266 Total consumer 453,401 461,068 Total loans $ 958,405 967,604 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) Mar 31, Dec 31, Commercial foreign loans: Commercial and industrial $ 56,987 55,396 Real estate mortgage 8,206 8,541 Real estate construction 471 375 Lease financing 986 972 Total commercial foreign loans $ 66,650 65,284 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 2017 2016 (in millions) Commercial Consumer (1) Total Commercial (2) Consumer (1) Total Quarter ended March 31, Purchases $ 1,159 2 1,161 24,646 — 24,646 Sales (287 ) (62 ) (349 ) (223 ) (272 ) (495 ) Transfers to MHFS/LHFS (479 ) — (479 ) (32 ) (3 ) (35 ) (1) 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. (2) Purchases include loans and capital leases from the 2016 GE Capital business acquisitions. 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 $76 billion and $77 billion at March 31, 2017 and December 31, 2016 , respectively. We issue commercial letters of credit to assist customers in purchasing goods or services, typically for international trade. At both March 31, 2017 , and December 31, 2016 , we had $1.1 billion of outstanding issued commercial letters of credit. We also originate multipurpose lending commitments under which borrowers have the option to draw on the facility for different purposes in one of several forms, including a standby letter of credit. See Note 10 (Guarantees, Pledged Assets and Collateral) for additional information on standby letters of credit. When we make commitments, we are exposed to credit risk. The maximum credit risk for these commitments will generally be lower than the contractual amount because a significant portion of these commitments 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 issued standby and commercial letters of credit and temporary advance arrangements described above. Table 5.4: Unfunded Credit Commitments (in millions) Mar 31, Dec 31, Commercial: Commercial and industrial $ 316,794 319,662 Real estate mortgage 7,448 7,833 Real estate construction 17,794 18,840 Lease financing 11 16 Total commercial 342,047 346,351 Consumer: Real estate 1-4 family first mortgage 33,594 33,498 Real estate 1-4 family junior lien mortgage 41,070 41,431 Credit card 104,630 101,895 Other revolving credit and installment 27,814 28,349 Total consumer 207,108 205,173 Total unfunded credit commitments $ 549,155 551,524 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 March 31, (in millions) 2017 2016 Balance, beginning of period $ 12,540 12,512 Provision for credit losses 605 1,086 Interest income on certain impaired loans (1) (48 ) (48 ) Loan charge-offs: Commercial: Commercial and industrial (253 ) (349 ) Real estate mortgage (5 ) (3 ) Real estate construction — — Lease financing (7 ) (4 ) Total commercial (265 ) (356 ) Consumer: Real estate 1-4 family first mortgage (69 ) (137 ) Real estate 1-4 family junior lien mortgage (93 ) (133 ) Credit card (367 ) (314 ) Automobile (255 ) (211 ) Other revolving credit and installment (189 ) (175 ) Total consumer (973 ) (970 ) Total loan charge-offs (1,238 ) (1,326 ) Loan recoveries: Commercial: Commercial and industrial 82 76 Real estate mortgage 30 32 Real estate construction 8 8 Lease financing 2 3 Total commercial 122 119 Consumer: Real estate 1-4 family first mortgage 62 89 Real estate 1-4 family junior lien mortgage 70 59 Credit card 58 52 Automobile 88 84 Other revolving credit and installment 33 37 Total consumer 311 321 Total loan recoveries 433 440 Net loan charge-offs (805 ) (886 ) Other (5 ) 4 Balance, end of period $ 12,287 12,668 Components: Allowance for loan losses $ 11,168 11,621 Allowance for unfunded credit commitments 1,119 1,047 Allowance for credit losses $ 12,287 12,668 Net loan charge-offs (annualized) as a percentage of average total loans 0.34 % 0.38 Allowance for loan losses as a percentage of total loans 1.17 1.23 Allowance for credit losses as a percentage of total loans 1.28 1.34 (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 changes in allowance attributable to the passage of time 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 2017 2016 (in millions) Commercial Consumer Total Commercial Consumer Total Quarter ended March 31, Balance, beginning of period $ 7,394 5,146 12,540 6,872 5,640 12,512 Provision (reversal of provision) for credit losses (89 ) 694 605 714 372 1,086 Interest income on certain impaired loans (15 ) (33 ) (48 ) (5 ) (43 ) (48 ) Loan charge-offs (265 ) (973 ) (1,238 ) (356 ) (970 ) (1,326 ) Loan recoveries 122 311 433 119 321 440 Net loan charge-offs (143 ) (662 ) (805 ) (237 ) (649 ) (886 ) Other (5 ) — (5 ) 4 — 4 Balance, end of period $ 7,142 5,145 12,287 7,348 5,320 12,668 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 March 31, 2017 Collectively evaluated (1) $ 6,281 3,691 9,972 499,565 421,619 921,184 Individually evaluated (2) 859 1,454 2,313 5,076 16,475 21,551 PCI (3) 2 — 2 363 15,307 15,670 Total $ 7,142 5,145 12,287 505,004 453,401 958,405 December 31, 2016 Collectively evaluated (1) $ 6,392 3,553 9,945 500,487 428,009 928,496 Individually evaluated (2) 1,000 1,593 2,593 5,372 17,005 22,377 PCI (3) 2 — 2 677 16,054 16,731 Total $ 7,394 5,146 12,540 506,536 461,068 967,604 (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 December 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 $20.4 billion in criticized commercial and industrial loans and $5.7 billion in criticized commercial real estate (CRE) loans at March 31, 2017 , $2.9 billion and $712 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 March 31, 2017 By risk category: Pass $ 308,652 126,215 24,450 17,881 477,198 Criticized 20,423 5,153 592 1,275 27,443 Total commercial loans (excluding PCI) 329,075 131,368 25,042 19,156 504,641 Total commercial PCI loans (carrying value) 177 164 22 — 363 Total commercial loans $ 329,252 131,532 25,064 19,156 505,004 December 31, 2016 By risk category: Pass $ 308,166 126,793 23,408 17,899 476,266 Criticized 22,437 5,315 451 1,390 29,593 Total commercial loans (excluding PCI) 330,603 132,108 23,859 19,289 505,859 Total commercial PCI loans (carrying value) 237 383 57 — 677 Total commercial loans $ 330,840 132,491 23,916 19,289 506,536 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 March 31, 2017 By delinquency status: Current-29 days past due (DPD) and still accruing $ 325,001 130,566 24,969 18,946 499,482 30-89 DPD and still accruing 1,088 119 30 114 1,351 90+ DPD and still accruing 88 11 3 — 102 Nonaccrual loans 2,898 672 40 96 3,706 Total commercial loans (excluding PCI) 329,075 131,368 25,042 19,156 504,641 Total commercial PCI loans (carrying value) 177 164 22 — 363 Total commercial loans $ 329,252 131,532 25,064 19,156 505,004 December 31, 2016 By delinquency status: Current-29 DPD and still accruing $ 326,765 131,165 23,776 19,042 500,748 30-89 DPD and still accruing 594 222 40 132 988 90+ DPD and still accruing 28 36 — — 64 Nonaccrual loans 3,216 685 43 115 4,059 Total commercial loans (excluding PCI) 330,603 132,108 23,859 19,289 505,859 Total commercial PCI loans (carrying value) 237 383 57 — 677 Total commercial loans $ 330,840 132,491 23,916 19,289 506,536 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 March 31, 2017 By delinquency status: Current-29 DPD $ 240,508 43,422 33,868 59,064 38,885 415,747 30-59 DPD 1,612 286 238 1,007 154 3,297 60-89 DPD 635 137 183 243 95 1,293 90-119 DPD 253 80 160 87 89 669 120-179 DPD 289 99 292 6 33 719 180+ DPD 1,534 275 1 1 29 1,840 Government insured/guaranteed loans (1) 14,529 — — — — 14,529 Total consumer loans (excluding PCI) 259,360 44,299 34,742 60,408 39,285 438,094 Total consumer PCI loans (carrying value) 15,273 34 — — — 15,307 Total consumer loans $ 274,633 44,333 34,742 60,408 39,285 453,401 December 31, 2016 By delinquency status: Current-29 DPD $ 239,061 45,238 35,773 60,572 39,833 420,477 30-59 DPD 1,904 296 275 1,262 177 3,914 60-89 DPD 700 160 200 330 111 1,501 90-119 DPD 307 102 169 116 93 787 120-179 DPD 323 108 279 5 30 745 180+ DPD 1,661 297 4 1 22 1,985 Government insured/guaranteed loans (1) 15,605 — — — — 15,605 Total consumer loans (excluding PCI) 259,561 46,201 36,700 62,286 40,266 445,014 Total consumer PCI loans (carrying value) 16,018 36 — — — 16,054 Total consumer loans $ 275,579 46,237 36,700 62,286 40,266 461,068 (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 $9.2 billion at March 31, 2017 , compared with $10.1 billion at December 31, 2016 . Of the $3.2 billion of consumer loans not government insured/guaranteed that are 90 days or more past due at March 31, 2017 , $838 million was accruing, compared with $3.5 billion past due and $908 million accruing at December 31, 2016 . Real estate 1-4 family first mortgage loans 180 days or more past due totaled $1.5 billion , or 0.6% of total first mortgages (excluding PCI), at March 31, 2017 , compared with $1.7 billion , or 0.6% , at December 31, 2016 . Table 5.11 provides a breakdown of our consumer portfolio by FICO. The March 31, 2017 FICO scores for real estate 1-4 family first and junior lien mortgages reflect a new FICO score version we adopted in first quarter 2017 to monitor and manage those portfolios. In general the impact for us is a shift to higher scores, particularly to the 800+ level, as the new FICO score version utilizes a more refined approach that better distinguishes borrower credit risk. Most of the scored consumer portfolio has an updated FICO of 680 and above, reflecting a strong current borrower credit profile. FICO is not available for certain loan types, or may not be required if we deem it unnecessary due to strong collateral and other borrower attributes. Substantially all loans not requiring a FICO score are securities-based loans originated through retail brokerage, and totaled $7.9 billion at March 31, 2017 , and $8.0 billion at December 31, 2016 . Table 5.11: Consumer Loans by FICO (in millions) Real estate 1-4 family first mortgage (1) Real estate 1-4 family junior lien mortgage (1) Credit card Automobile Other revolving credit and installment (1) Total March 31, 2017 By FICO: < 600 $ 6,260 2,123 3,352 9,906 947 22,588 600-639 4,256 1,501 2,943 6,393 1,009 16,102 640-679 8,081 2,934 5,371 9,763 2,158 28,307 680-719 16,503 5,663 7,080 10,826 3,899 43,971 720-759 28,250 7,106 7,339 8,525 5,407 56,627 760-799 51,813 7,993 5,823 7,945 6,614 80,188 800+ 124,534 16,237 2,792 6,720 8,682 158,965 No FICO available 5,134 742 42 330 2,643 8,891 FICO not required — — — — 7,926 7,926 Government insured/guaranteed loans (2) 14,529 — — — — 14,529 Total consumer loans (excluding PCI) 259,360 44,299 34,742 60,408 39,285 438,094 Total consumer PCI loans (carrying value) 15,273 34 — — — 15,307 Total consumer loans $ 274,633 44,333 34,742 60,408 39,285 453,401 December 31, 2016 By FICO: < 600 $ 6,720 2,591 3,475 9,934 976 23,696 600-639 5,400 1,917 3,109 6,705 1,056 18,187 640-679 10,975 3,747 5,678 10,204 2,333 32,937 680-719 23,300 6,432 7,382 11,233 4,302 52,649 720-759 38,832 9,413 7,632 8,769 5,869 70,515 760-799 103,608 14,929 6,191 8,164 8,348 141,240 800+ 49,508 6,391 2,868 6,856 6,434 72,057 No FICO available 5,613 781 365 421 2,906 10,086 FICO not required — — — — 8,042 8,042 Government insured/guaranteed loans (2) 15,605 — — — — 15,605 Total consumer loans (excluding PCI) 259,561 46,201 36,700 62,286 40,266 445,014 Total consumer PCI loans (carrying value) 16,018 36 — — — 16,054 Total consumer loans $ 275,579 46,237 36,700 62,286 40,266 461,068 (1) The March 31, 2017 , amounts reflect updated FICO score version implemented in first quarter 2017. (2) 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 March 31, 2017 December 31, 2016 (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% $ 121,653 16,024 137,677 121,430 16,464 137,894 60.01-80% 101,956 14,651 116,607 101,726 15,262 116,988 80.01-100% 16,506 8,312 24,818 15,795 8,765 24,560 100.01-120% (1) 2,459 3,339 5,798 2,644 3,589 6,233 > 120% (1) 1,025 1,482 2,507 1,066 1,613 2,679 No LTV/CLTV available 1,232 491 1,723 1,295 508 1,803 Government insured/guaranteed loans (2) 14,529 — 14,529 15,605 — 15,605 Total consumer loans (excluding PCI) 259,360 44,299 303,659 259,561 46,201 305,762 Total consumer PCI loans (carrying value) 15,273 34 15,307 16,018 36 16,054 Total consumer loans $ 274,633 44,333 318,966 275,579 46,237 321,816 (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) Mar 31, Dec 31, Commercial: Commercial and industrial $ 2,898 3,216 Real estate mortgage 672 685 Real estate construction 40 43 Lease financing 96 115 Total commercial 3,706 4,059 Consumer: Real estate 1-4 family first mortgage (1) 4,743 4,962 Real estate 1-4 family junior lien mortgage 1,153 1,206 Automobile 101 106 Other revolving credit and installment 56 51 Total consumer 6,053 6,325 Total nonaccrual loans (excluding PCI) $ 9,759 10,384 (1) Includes MHFS of $145 million and $149 million at March 31, 2017 , and December 31, 2016 , 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 $7.8 billion and $8.1 billion at March 31, 2017 and December 31, 2016 , respectively, which included $4.7 billion and $4.8 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 $1.8 billion at March 31, 2017 , and $2.0 billion at December 31, 2016 , are not included in these past due and still accruing loans even when 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) Mar 31, 2017 Dec 31, 2016 Total (excluding PCI): $ 10,525 11,858 Less: FHA insured/guaranteed by the VA (1)(2) 9,585 10,883 Less: Student loans guaranteed under the Federal Family Education Loan Program (FFELP) (3) — 3 Total, not government insured/guaranteed $ 940 972 By segment and class, not government insured/guaranteed: Commercial: Commercial and industrial $ 88 28 Real estate mortgage 11 36 Real estate construction 3 — Total commercial 102 64 Consumer: Real estate 1-4 family first mortgage (2) 149 175 Real estate 1-4 family junior lien mortgage (2) 42 56 Credit card 453 452 Automobile 79 112 Other revolving credit and installment 115 113 Total consumer 838 908 Total, not government insured/guaranteed $ 940 972 (1) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. (2) Includes mortgages held for sale 90 days or more past due and still accruing. (3) Represents loans whose repayments are largely guaranteed by agencies on behalf of the U.S. Department of Education under the FFELP. All remaining student loans guaranteed under the FFELP were sold as of March 31, 2017. 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 $261 million at March 31, 2017 , and $299 million at December 31, 2016 . For additional information on our impaired loans and allowance for credit losses, see Note 1 (Summary of Significant Accounting Policies) in our 2016 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 March 31, 2017 Commercial: Commercial and industrial $ 4,833 3,508 3,158 571 Real estate mortgage 1,722 1,393 1,393 236 Real estate construction 134 73 73 14 Lease financing 149 102 102 38 Total commercial 6,838 5,076 4,726 859 Consumer: Real estate 1-4 family first mortgage 15,891 13,872 9,075 996 Real estate 1-4 family junior lien mortgage 2,339 2,106 1,628 326 Credit card 308 308 308 107 Automobile 146 80 29 7 Other revolving credit and installment 117 109 99 18 Total consumer (2) 18,801 16,475 11,139 1,454 Total impaired loans (excluding PCI) $ 25,639 21,551 15,865 2,313 December 31, 2016 Commercial: Commercial and industrial $ 5,058 3,742 3,418 675 Real estate mortgage 1,777 1,418 1,396 280 Real estate construction 167 93 93 22 Lease financing 146 119 119 23 Total commercial 7,148 5,372 5,026 1,000 Consumer: Real estate 1-4 family first mortgage 16,438 14,362 9,475 1,117 Real estate 1-4 family junior lien mortgage 2,399 2,156 1,681 350 Credit card 300 300 300 104 Automobile 153 85 31 5 Other revolving credit and installment 109 102 91 17 Total consumer (2) 19,399 17,005 11,578 1,593 Total impaired loans (excluding PCI) $ 26,547 22,377 16,604 2,593 (1) Excludes the unpaid principal balance for loans that have been fully charged off or otherwise have zero recorded investment. (2) Includes the recorded investment of $1.5 billion at both March 31, 2017 and December 31, 2016 , 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 $630 million and $403 million at March 31, 2017 and December 31, 2016 , 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 March 31, 2017 2016 (in millions) Average recorded investment Recognized interest income Average recorded investment Recognized interest income Commercial: Commercial and industrial $ 3,675 33 2,766 19 Real estate mortgage 1,394 27 1,772 32 Real estate construction 84 1 130 2 Lease financing 119 — 75 — Total commercial 5,272 61 4,743 53 Consumer: Real estate 1-4 family first mortgage 14,132 190 16,911 221 Real estate 1-4 family junior lien mortgage 2,131 31 2,382 34 Credit card 302 8 297 9 Automobile 83 3 101 3 Other revolving credit and installment 106 2 82 1 Total consumer 16,754 234 19,773 268 Total impaired loans (excluding PCI) $ 22,026 295 24,516 321 Interest income: Cash basis of accounting $ 78 95 Other (1) 217 226 Total interest income $ 295 321 (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 $20.1 billion and $20.8 billion at March 31, 2017 and December 31, 2016 , respectively. We do not consider loan resolutions such as foreclosure or short sale to be a TDR. We may require some consumer borrowers experiencing financial difficulty to make trial payments generally for a period of three to four months, according to the terms of a planned permanent modification, to determine if they can perform according to those terms. These arrangements represent trial modifications, which we classify and account for as TDRs. While loans are in trial payment programs, their original terms are not considered modified and they continue to advance through delinquency status and accrue interest according to their original terms. 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 rate reduction Other concessions (3) Total Charge- offs (4) Weighted average interest rate reduction Recorded investment related to interest rate reduction (5) Quar |
Other Assets
Other Assets | 3 Months Ended |
Mar. 31, 2017 | |
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) Mar 31, Dec 31, Nonmarketable equity investments: Cost method: Federal bank stock $ 6,185 6,407 Private equity 1,484 1,465 Auction rate securities 453 525 Total cost method 8,122 8,397 Equity method: LIHTC (1) 9,624 9,714 Private equity 3,620 3,635 Tax-advantaged renewable energy 2,013 2,054 New market tax credit and other 277 305 Total equity method 15,534 15,708 Fair value (2) 3,780 3,275 Total nonmarketable equity investments 27,436 27,380 Corporate/bank-owned life insurance 19,368 19,325 Accounts receivable (3) 31,570 31,056 Interest receivable 5,486 5,339 Core deposit intangibles 1,407 1,620 Customer relationship and other amortized intangibles 1,028 1,089 Foreclosed assets: Residential real estate: Government insured/guaranteed (3) 179 197 Non-government insured/guaranteed 345 378 Non-residential real estate 381 403 Operating lease assets 9,837 10,089 Due from customers on acceptances 191 196 Other 10,533 17,469 Total other assets $ 107,761 114,541 (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 the classification of certain government-guaranteed mortgage loans upon foreclosure, see Note 1 (Summary of Significant Accounting Policies) to Financial Statements in our 2016 10-K. Table 6.2 presents income (expense) related to nonmarketable equity investments. Table 6.2: Nonmarketable Equity Investments Quarter ended March 31, (in millions) 2017 2016 Net realized gains from nonmarketable equity investments $ 287 185 All other (45 ) (186 ) Total $ 242 (1 ) 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 $9.6 billion and $9.7 billion at March 31, 2017 and December 31, 2016 , respectively. In first quarter 2017 , we recognized pre-tax losses of $230 million related to our LIHTC investments, compared with $202 million in first quarter 2016. We also recognized total tax benefits of $347 million in first quarter 2017 , which included tax credits recorded in income taxes of $261 million . In first quarter 2016 , total tax benefits were $307 million , which included tax credits of $230 million . We are periodically required to provide additional financial support during the investment period. Our liability for these unfunded commitments was $3.4 billion at March 31, 2017 and $3.6 billion at December 31, 2016 . 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 | 3 Months Ended |
Mar. 31, 2017 | |
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 2016 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 March 31, 2017 Cash $ — 128 — 128 Federal funds sold, securities purchased under resale agreements and other short-term investments — 485 — 485 Trading assets 1,546 126 201 1,873 Investment securities (1) 7,221 — 650 7,871 Loans 6,527 13,056 127 19,710 Mortgage servicing rights 13,704 — — 13,704 Derivative assets 68 1 — 69 Other assets 10,148 361 10 10,519 Total assets 39,214 14,157 988 54,359 Short-term borrowings — — 783 783 Derivative liabilities 57 30 (2) — 87 Accrued expenses and other liabilities 287 103 (2) 2 392 Long-term debt 3,351 3,640 (2) 129 7,120 Total liabilities 3,695 3,773 914 8,382 Noncontrolling interests — 132 — 132 Net assets $ 35,519 10,252 74 45,845 December 31, 2016 Cash $ — 168 — 168 Federal funds sold, securities purchased under resale agreements and other short-term investments — 74 — 74 Trading assets 2,034 130 201 2,365 Investment securities (1) 8,530 — 786 9,316 Loans 6,698 12,589 138 19,425 Mortgage servicing rights 13,386 — — 13,386 Derivative assets 91 1 — 92 Other assets 10,281 452 11 10,744 Total assets 41,020 13,414 1,136 55,570 Short-term borrowings — — 905 905 Derivative liabilities 59 33 (2) — 92 Accrued expenses and other liabilities 306 107 (2) 2 415 Long-term debt 3,598 3,694 (2) 136 7,428 Total liabilities 3,963 3,834 1,043 8,840 Noncontrolling interests — 138 — 138 Net assets $ 37,057 9,442 93 46,592 (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, derivative assets and liabilities, 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 March 31, 2017 Residential mortgage loan securitizations: Conforming (2) $ 1,176,819 2,539 12,750 — (226 ) 15,063 Other/nonconforming 17,459 824 101 — (2 ) 923 Commercial mortgage securitizations 152,603 3,115 853 62 (34 ) 3,996 Collateralized debt obligations: Debt securities 1,336 — — — (25 ) (25 ) Loans (3) 1,527 1,489 — — — 1,489 Asset-based finance structures 8,039 6,142 — — — 6,142 Tax credit structures 29,808 10,642 — — (3,351 ) 7,291 Collateralized loan obligations 49 10 — — — 10 Investment funds 220 52 — — — 52 Other (4) 1,720 629 — (51 ) — 578 Total $ 1,389,580 25,442 13,704 11 (3,638 ) 35,519 Maximum exposure to loss Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Total exposure Residential mortgage loan securitizations: Conforming $ 2,539 12,750 — 929 16,218 Other/nonconforming 824 101 — 2 927 Commercial mortgage securitizations 3,115 853 72 9,783 13,823 Collateralized debt obligations: Debt securities — — — 25 25 Loans (3) 1,489 — — — 1,489 Asset-based finance structures 6,142 — — 71 6,213 Tax credit structures 10,642 — — 941 11,583 Collateralized loan obligations 10 — — — 10 Investment funds 52 — — — 52 Other (4) 629 — 89 — 718 Total $ 25,442 13,704 161 11,751 51,058 (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, 2016 Residential mortgage loan securitizations: Conforming (2) $ 1,166,296 3,026 12,434 — (232 ) 15,228 Other/nonconforming 18,805 873 109 — (2 ) 980 Commercial mortgage securitizations 166,596 4,258 843 87 (35 ) 5,153 Collateralized debt obligations: Debt securities 1,472 — — — (25 ) (25 ) Loans (3) 1,545 1,507 — — — 1,507 Asset-based finance structures 9,152 6,522 — — — 6,522 Tax credit structures 29,713 10,669 — — (3,609 ) 7,060 Collateralized loan obligations 78 10 — — — 10 Investment funds 214 48 — — — 48 Other (4) 1,733 630 — (56 ) — 574 Total $ 1,395,604 27,543 13,386 31 (3,903 ) 37,057 Maximum exposure to loss Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Total exposure Residential mortgage loan securitizations: Conforming $ 3,026 12,434 — 979 16,439 Other/nonconforming 873 109 — 2 984 Commercial mortgage securitizations 4,258 843 94 9,566 14,761 Collateralized debt obligations: Debt securities — — — 25 25 Loans (3) 1,507 — — — 1,507 Asset-based finance structures 6,522 — — 72 6,594 Tax credit structures 10,669 — — 1,104 11,773 Collateralized loan obligations 10 — — — 10 Investment funds 48 — — — 48 Other (4) 630 — 93 — 723 Total $ 27,543 13,386 187 11,748 52,864 (1) Includes total equity interests of $10.1 billion and $10.3 billion at March 31, 2017 , and December 31, 2016 , 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 $888 million and $1.2 billion at March 31, 2017 , and December 31, 2016 , 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 in senior tranches from a diversified pool of U.S. asset securitizations, of which all are current and 100% were rated as investment grade by the primary rating agencies at both March 31, 2017 , and December 31, 2016 . 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 2016 Form 10-K. INVESTMENT FUNDS Subsequent to adopting ASU 2015-02 ( Amendments to the Consolidation Analysis ) in first quarter 2016, 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 was $14 million and $30 million in first quarter 2017 and 2016 , respectively. 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 both March 31, 2017 and December 31, 2016 , we held $453 million of ARS issued by VIEs. 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 March 31, 2017 , and December 31, 2016 , we reported the debt securities issued to the VIEs as long-term junior subordinated debt with a carrying value of $2.1 billion 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 2017 2016 (in millions) Mortgage loans Other financial assets Mortgage loans Other financial assets Quarter ended March 31, Proceeds from securitizations and whole loan sales $ 58,257 21 45,016 50 Fees from servicing rights retained 854 — 881 — Cash flows from other interests held (1) 834 — 407 1 Repurchases of assets/loss reimbursements (2): Non-agency securitizations and whole loan transactions 2 — 3 — Agency securitizations (3) 23 — 47 — Servicing advances, net of repayments (142 ) — (68 ) — (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. First quarter 2017 and 2016 exclude $ 2.3 billion and $2.9 billion , respectively, in delinquent insured/guaranteed loans that we service and have exercised our option to purchase out of GNMA pools. These loans are predominantly insured by the FHA or guaranteed by the VA. In first quarter 2017 and 2016 , we recognized net gains of $132 million and $195 million , respectively, from transfers accounted for as sales of financial assets. 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 first quarter 2017 and 2016 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 first quarter 2017 and 2016 , we transferred $55.5 billion and $37.3 billion , respectively, in fair value of residential mortgages to unconsolidated VIEs and third-party investors and recorded the transfers as sales. 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 first quarter 2017 , we recorded a $546 million servicing asset, measured at fair value using a Level 3 measurement technique, securities of $2.8 billion , classified as Level 2, and a $8 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 first quarter 2016 , we recorded a $315 million servicing asset, securities of $832 million , and a $7 million liability. Table 7.4 presents the key weighted-average assumptions we used to measure residential mortgage servicing rights at the date of securitization. Table 7.4: Residential Mortgage Servicing Rights Residential mortgage servicing rights 2017 2016 Quarter ended March 31, Prepayment speed (1) 10.3 % 13.0 Discount rate 6.8 6.8 Cost to service ($ per loan) (2) $ 134 146 (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 first quarter 2017 and 2016 , we transferred $3.3 billion and $8.1 billion , respectively, in carrying value of commercial mortgages to unconsolidated VIEs and third-party investors and recorded the transfers as sales. These transfers resulted in gains of $96 million and $135 million for the same periods, respectively, because the loans were carried at lower of cost or market value (LOCOM). In connection with these transfers, in first quarter 2017 , we recorded a servicing asset of $45 million , initially measured at fair value using a Level 3 measurement technique, and no securities were classified as Level 2. In first quarter 2016 , we recorded a servicing asset of $97 million and securities of $86 million . Retained Interests from Unconsolidated VIEs Table 7.5 provides key economic assumptions and the sensitivity of the current fair value of residential mortgage servicing rights and other interests held to immediate adverse changes in those assumptions. “Other interests held” relate to residential and commercial mortgage loan securitizations. Residential mortgage-backed securities retained in securitizations issued through GSEs, such as FNMA, FHLMC and GNMA, are excluded from the table because these securities have a remote risk of credit loss due to the GSE guarantee. These securities also have economic characteristics similar to GSE mortgage-backed securities that we purchase, which are not included in the table. Subordinated interests include only those bonds whose credit rating was below AAA by a major rating agency at issuance. Senior interests include only those bonds whose credit rating was AAA by a major rating agency at issuance. The information presented excludes trading positions held in inventory. Table 7.5: Retained Interests from Unconsolidated VIEs Other interests held Residential mortgage servicing rights (1) Interest-only strips Consumer Commercial (2) ($ in millions, except cost to service amounts) Subordinated bonds Subordinated bonds Senior bonds Fair value of interests held at March 31, 2017 $ 13,208 26 — 346 545 Expected weighted-average life (in years) 6.4 3.9 0.0 4.5 5.5 Key economic assumptions: Prepayment speed assumption (3) 10.2 % 17.2 — Decrease in fair value from: 10% adverse change $ 570 1 — 25% adverse change 1,353 2 — Discount rate assumption 6.9 % 13.6 — 4.3 2.9 Decrease in fair value from: 100 basis point increase $ 658 1 — 12 24 200 basis point increase 1,257 1 — 23 47 Cost to service assumption ($ per loan) 150 Decrease in fair value from: 10% adverse change 498 25% adverse change 1,246 Credit loss assumption — % 3.4 — Decrease in fair value from: 10% higher losses $ — — — 25% higher losses — — — Fair value of interests held at December 31, 2016 $ 12,959 28 1 249 552 Expected weighted-average life (in years) 6.3 3.9 8.3 3.1 5.1 Key economic assumptions: Prepayment speed assumption (3) 10.3 % 17.4 13.5 Decrease in fair value from: 10% adverse change $ 583 1 — 25% adverse change 1,385 2 — Discount rate assumption 6.8 % 13.3 10.7 5.2 2.7 Decrease in fair value from: 100 basis point increase $ 649 1 — 7 23 200 basis point increase 1,239 1 — 12 45 Cost to service assumption ($ per loan) 155 Decrease in fair value from: 10% adverse change 515 25% adverse change 1,282 Credit loss assumption 3.0 % 4.7 — Decrease in fair value from: 10% higher losses $ — — — 25% higher losses — — — (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 $2.1 billion and $2.0 billion at March 31, 2017 , and December 31, 2016 , 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 March 31, 2017 , and December 31, 2016 , results in a decrease in fair value of $270 million and $259 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 March 31, 2017 , and December 31, 2016 . The carrying amount of the loan at March 31, 2017 , and December 31, 2016 , was $3.1 billion and $3.2 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 $129 million and $154 million at March 31, 2017 , and December 31, 2016 , 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) Quarter ended Mar 31, (in millions) Mar 31, 2017 Dec 31, 2016 Mar 31, 2017 Dec 31, 2016 2017 2016 Commercial: Real estate mortgage $ 100,695 106,745 3,076 3,325 295 83 Total commercial 100,695 106,745 3,076 3,325 295 83 Consumer: Real estate 1-4 family first mortgage 1,162,112 1,160,191 15,202 16,453 200 287 Total consumer 1,162,112 1,160,191 15,202 16,453 200 287 Total off-balance sheet sold or securitized loans (2) $ 1,262,807 1,266,936 18,278 19,778 495 370 (1) Includes $1.5 billion and $1.7 billion of commercial foreclosed assets and $1.6 billion and $1.8 billion of consumer foreclosed assets at March 31, 2017 , and December 31, 2016 , respectively. (2) At March 31, 2017 , and December 31, 2016 , the table includes total loans of $1.2 trillion at both dates, delinquent loans of $9.5 billion and $9.8 billion , and foreclosed assets of $1.2 billion and $1.3 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 March 31, 2017 Secured borrowings: Municipal tender option bond securitizations $ 1,328 861 (785 ) — 76 Residential mortgage securitizations 131 127 (129 ) — (2 ) Total secured borrowings 1,459 988 (914 ) — 74 Consolidated VIEs: Commercial and industrial loans and leases 9,504 9,306 (2,812 ) (12 ) 6,482 Nonconforming residential mortgage loan securitizations 3,189 2,812 (950 ) — 1,862 Commercial real estate loans 1,747 1,747 — — 1,747 Structured asset finance 22 11 (8 ) — 3 Investment funds 147 147 (2 ) (69 ) 76 Other 157 134 (1 ) (51 ) 82 Total consolidated VIEs 14,766 14,157 (3,773 ) (132 ) 10,252 Total secured borrowings and consolidated VIEs $ 16,225 15,145 (4,687 ) (132 ) 10,326 December 31, 2016 Secured borrowings: Municipal tender option bond securitizations $ 1,473 998 (907 ) — 91 Residential mortgage securitizations 139 138 (136 ) — 2 Total secured borrowings 1,612 1,136 (1,043 ) — 93 Consolidated VIEs: Commercial and industrial loans and leases 8,821 8,623 (2,819 ) (14 ) 5,790 Nonconforming residential mortgage loan securitizations 3,349 2,974 (1,003 ) — 1,971 Commercial real estate loans 1,516 1,516 — — 1,516 Structured asset finance 23 13 (9 ) — 4 Investment funds 142 142 (2 ) (67 ) 73 Other 166 146 (1 ) (57 ) 88 Total consolidated VIEs 14,017 13,414 (3,834 ) (138 ) 9,442 Total secured borrowings and consolidated VIEs $ 15,629 14,550 (4,877 ) (138 ) 9,535 INVESTMENT FUNDS Subsequent to adopting ASU 2015-02 ( Amendments to the Consolidation Analysis ) in first quarter 2016, we consolidate certain investment funds because we have both the power to manage fund assets and hold variable interests that are considered significant. OTHER CONSOLIDATED VIE STRUCTURES In addition to the structure types included in the previous table, at both March 31, 2017 , and December 31, 2016 , we had approximately $6.0 billion of private placement debt financing issued through a consolidated VIE. The issuance is classified as long-term debt in our consolidated financial statements. At March 31, 2017 , we pledged approximately $414 million in loans (principal and interest eligible to be capitalized) and $6.2 billion in available-for-sale securities to collateralize the VIE’s borrowings, compared with $434 million and $6.1 billion , respectively, at December 31, 2016 . These assets were not transferred to the VIE, and accordingly we have excluded the VIE from the previous table. For complete descriptions of our accounting for transfers accounted for as secured borrowings and involvements with consolidated VIEs, see Note 8 (Securitizations and Variable Interest Entities) to Financial Statements in our 2016 Form 10-K. |
Mortgage Banking Activities
Mortgage Banking Activities | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, (in millions) 2017 2016 Fair value, beginning of period $ 12,959 12,415 Servicing from securitizations or asset transfers (1) 583 366 Sales and other (2) (47 ) — Net additions 536 366 Changes in fair value: Due to changes in valuation model inputs or assumptions: Mortgage interest rates (3) 152 (1,084 ) Servicing and foreclosure costs (4) 27 27 Prepayment estimates and other (5) (5 ) 100 Net changes in valuation model inputs or assumptions 174 (957 ) Changes due to collection/realization of expected cash flows over time (461 ) (491 ) Total changes in fair value (287 ) (1,448 ) Fair value, end of period $ 13,208 11,333 (1) Includes impacts associated with exercising our right to repurchase delinquent loans from GNMA loan securitization pools. (2) Includes sales and transfers of MSRs, which can result in an increase of total reported MSRs if the sales or transfers are related to nonperforming loan portfolios. (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. Table 8.2 presents the changes in amortized MSRs. Table 8.2: Analysis of Changes in Amortized MSRs Quarter ended March 31, (in millions) 2017 2016 Balance, beginning of period $ 1,406 1,308 Purchases 18 21 Servicing from securitizations or asset transfers 45 97 Amortization (67 ) (67 ) Balance, end of period (1) $ 1,402 1,359 Fair value of amortized MSRs: Beginning of period $ 1,956 1,680 End of period 2,051 1,725 (1) Commercial amortized MSRs are evaluated for impairment purposes by the following risk strata: agency (GSEs) for multi-family properties 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) Mar 31, 2017 Dec 31, 2016 Residential mortgage servicing: Serviced for others $ 1,204 1,205 Owned loans serviced 335 347 Subserviced for others 4 8 Total residential servicing 1,543 1,560 Commercial mortgage servicing: Serviced for others 474 479 Owned loans serviced 132 132 Subserviced for others 7 8 Total commercial servicing 613 619 Total managed servicing portfolio $ 2,156 2,179 Total serviced for others $ 1,678 1,684 Ratio of MSRs to related loans serviced for others 0.87 % 0.85 Table 8.4 presents the components of mortgage banking noninterest income. Table 8.4: Mortgage Banking Noninterest Income Quarter ended March 31, (in millions) 2017 2016 Servicing income, net: Servicing fees: Contractually specified servicing fees $ 907 954 Late charges 48 48 Ancillary fees 50 61 Unreimbursed direct servicing costs (1) (123 ) (153 ) Net servicing fees 882 910 Changes in fair value of MSRs carried at fair value: Due to changes in valuation model inputs or assumptions (2) (A) 174 (957 ) Changes due to collection/realization of expected cash flows over time (461 ) (491 ) Total changes in fair value of MSRs carried at fair value (287 ) (1,448 ) Amortization (67 ) (67 ) Net derivative gains (losses) from economic hedges (3) (B) (72 ) 1,455 Total servicing income, net 456 850 Net gains on mortgage loan origination/sales activities 772 748 Total mortgage banking noninterest income $ 1,228 1,598 Market-related valuation changes to MSRs, net of hedge results (2)(3) (A)+(B) $ 102 498 (1) Includes costs associated with foreclosures, unreimbursed interest advances to investors, and other interest costs. (2) Refer to the analysis of changes in fair value MSRs presented in Table 8.1 in this Note for more detail. (3) 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 adjustments to the repurchase liability are recorded in 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 $155 million at March 31, 2017 , 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 March 31, (in millions) 2017 2016 Balance, beginning of period $ 229 378 Provision for repurchase losses: Loan sales 8 7 Change in estimate (1) (8 ) (19 ) Net additions (reductions) — (12 ) Losses (7 ) (11 ) Balance, end of period $ 222 355 (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 | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 December 31, 2016 (in millions) Gross carrying value Accumulated amortization Net carrying value Gross carrying value Accumulated amortization Net carrying value Amortized intangible assets (1): MSRs (2) $ 3,658 (2,256 ) 1,402 3,595 (2,189 ) 1,406 Core deposit intangibles 12,834 (11,427 ) 1,407 12,834 (11,214 ) 1,620 Customer relationship and other intangibles 3,945 (2,917 ) 1,028 3,928 (2,839 ) 1,089 Total amortized intangible assets $ 20,437 (16,600 ) 3,837 20,357 (16,242 ) 4,115 Unamortized intangible assets: MSRs (carried at fair value) (2) $ 13,208 12,959 Goodwill 26,666 26,693 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 March 31, 2017 . 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 (1) Total Three months ended March 31, 2017 (actual) $ 67 213 79 359 Estimate for the remainder of 2017 $ 190 638 230 1,058 Estimate for year ended December 31, 2018 218 769 300 1,287 2019 194 108 302 2020 178 89 267 2021 153 76 229 2022 134 63 197 (1) The three months ended March 31, 2017 balance includes $3 million for lease intangible amortization. Table 9.3 shows the allocation of goodwill to our reportable operating segments. Table 9.3: Goodwill (in millions) Community Banking Wholesale Banking Wealth and Investment Management Consolidated Company December 31, 2015 $ 16,849 7,475 1,205 25,529 Reduction in goodwill related to divested businesses and other — (58 ) — (58 ) Goodwill from business combinations — 1,532 — 1,532 March 31, 2016 $ 16,849 8,949 1,205 27,003 December 31, 2016 $ 16,849 8,585 1,259 26,693 Reduction in goodwill related to divested businesses and other — (27 ) — (27 ) March 31, 2017 $ 16,849 8,558 1,259 26,666 We assess goodwill for impairment at a reporting unit level, which is one level below the operating segments. See Note 18 (Operating Segments) for further information on management reporting. |
Guarantees, Pledged Assets and
Guarantees, Pledged Assets and Collateral | 3 Months Ended |
Mar. 31, 2017 | |
Guarantees [Abstract] | |
Guarantees, Pledged Assets and Collateral | 90 days Total gross obligation March 31, 2017 Repurchase agreements $ 64,530 12,321 5,723 4,966 87,540 Securities lending 7,054 432 1,247 — 8,733 Total repurchases and securities lending (1) $ 71,584 12,753 6,970 4,966 96,273 December 31, 2016 Repurchase agreements $ 60,516 9,598 6,762 5,228 82,104 Securities lending 5,565 167 1,275 — 7,007 Total repurchases and securities lending (1) $ 66,081 9,765 8,037 5,228 89,111 (1) Securities lending is executed under agreements that allow either party to terminate the transaction without notice, while repurchase agreements have a term structure to them that technically matures at a point in time. The overnight/continuous repurchase agreements require election of both parties to roll the trade rather than the election to terminate the arrangement as in securities lending." 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 2016 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 of obligation (asset) 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 March 31, 2017 Standby letters of credit (1) $ 39 15,818 8,319 3,288 661 28,086 9,594 Securities lending and other indemnifications (2) — — — 1 793 794 2 Written put options (3) (129 ) 12,708 10,690 4,354 1,438 29,190 17,870 Loans and MHFS sold with recourse (4) 54 213 533 980 8,739 10,465 7,425 Factoring guarantees (5) — 766 — — — 766 766 Other guarantees 4 13 20 17 4,507 4,557 5 Total guarantees $ (32 ) 29,518 19,562 8,640 16,138 73,858 35,662 December 31, 2016 Standby letters of credit (1) $ 38 16,050 8,727 3,194 658 28,629 9,898 Securities lending and other indemnifications (2) — — — 1 1,166 1,167 2 Written put options (3) 37 10,427 10,805 4,573 1,216 27,021 15,915 Loans and MHFS sold with recourse (4) 55 84 637 947 8,592 10,260 7,228 Factoring guarantees (5) — 1,109 — — — 1,109 1,109 Other guarantees 6 19 21 17 3,580 3,637 15 Total guarantees $ 136 27,689 20,190 8,732 15,212 71,823 34,167 (1) Total maximum exposure to loss includes direct pay letters of credit (DPLCs) of $8.8 billion and $9.2 billion at March 31, 2017 , and December 31, 2016 , 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 $75 million and $175 million with related collateral of $718 million and $991 million at March 31, 2017 , and December 31, 2016 , respectively. Estimated maximum exposure to loss was $793 million at March 31, 2017 and $1.2 billion at December 31, 2016 . (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 of loans associated with these agreements in the first quarter 2017 , and $1 million in the same period of 2016 . (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. Credit quality indicators we usually consider in evaluating risk of payments or performance are 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 various 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 and pledged off-balance sheet securities for securities financings. The table excludes pledged consolidated VIE assets of $14.2 billion and $13.4 billion at March 31, 2017 , and December 31, 2016 , respectively, which can only be used to settle the liabilities of those entities. The table also excludes $1.0 billion and $1.1 billion in assets pledged in transactions with VIE's accounted for as secured borrowings at March 31, 2017 , and December 31, 2016 , 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) Mar 31, Dec 31, Trading assets and other (1) $ 93,849 84,603 Investment securities (2) 78,163 90,946 Mortgages held for sale and loans (3) 506,776 516,112 Total pledged assets $ 678,788 691,661 (1) Consists of trading assets of $31.1 billion and $33.2 billion at March 31, 2017 , and December 31, 2016 , respectively and off-balance sheet securities of $62.7 billion and $51.4 billion as of the same dates, respectively, that are pledged as collateral for repurchase agreements and other securities financings. Total trading assets and other includes $93.4 billion and $84.2 billion at March 31, 2017 , and December 31, 2016 , respectively that permit the secured parties to sell or repledge the collateral. (2) Includes carrying value of $4.8 billion and $6.2 billion (fair value of $4.7 billion and $ 6.2 billion ) in collateral for repurchase agreements at March 31, 2017 , and December 31, 2016 , respectively, which are pledged under agreements that do not permit the secured parties to sell or repledge the collateral. Also includes $101 million and $617 million in collateral pledged under repurchase agreements at March 31, 2017 , and December 31, 2016 , 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 $9.7 billion and $15.8 billion at March 31, 2017 , and December 31, 2016 , respectively. Substantially all of the total mortgages held for sale and loans are pledged under agreements that do not permit the secured parties to sell or repledge the collateral. Amounts exclude $888 million and $1.2 billion at March 31, 2017 , and December 31, 2016 , respectively, of pledged loans recorded on our balance sheet representing certain delinquent loans that are eligible for repurchase from GNMA loan securitizations. 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 reported 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) Mar 31, Dec 31, Assets: Resale and securities borrowing agreements Gross amounts recognized $ 110,061 91,123 Gross amounts offset in consolidated balance sheet (1) (20,529 ) (11,680 ) Net amounts in consolidated balance sheet (2) 89,532 79,443 Collateral not recognized in consolidated balance sheet (3) (88,755 ) (78,837 ) Net amount (4) $ 777 606 Liabilities: Repurchase and securities lending agreements Gross amounts recognized (5) $ 96,273 89,111 Gross amounts offset in consolidated balance sheet (1) (20,529 ) (11,680 ) Net amounts in consolidated balance sheet (6) 75,744 77,431 Collateral pledged but not netted in consolidated balance sheet (7) (75,505 ) (77,184 ) Net amount (8) $ 239 247 (1) Represents recognized amount of resale and repurchase agreements with counterparties subject to enforceable MRAs that have been offset in the consolidated balance sheet. (2) At March 31, 2017 , and December 31, 2016 , includes $68.3 billion and $58.1 billion , respectively, classified on our consolidated balance sheet in federal funds sold, securities purchased under resale agreements and other short-term investments and $21.2 billion and $21.3 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 March 31, 2017 , and December 31, 2016 , we have received total collateral with a fair value of $120.8 billion and $102.3 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 $61.5 billion at March 31, 2017 , and $50.0 billion at December 31, 2016 . (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 March 31, 2017 , and December 31, 2016 , we have pledged total collateral with a fair value of $98.6 billion and $91.4 billion , respectively, of which, the counterparty does not have the right to sell or repledge $5.1 billion as of March 31, 2017 and $6.6 billion as of December 31, 2016 . (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) Mar 31, Dec 31, Repurchase agreements: Securities of U.S. Treasury and federal agencies $ 44,376 34,335 Securities of U.S. States and political subdivisions 106 81 Federal agency mortgage-backed securities 28,726 32,669 Non-agency mortgage-backed securities 1,800 2,167 Corporate debt securities 7,481 6,829 Asset-backed securities 2,370 3,010 Equity securities 1,530 1,309 Other 1,151 1,704 Total repurchases 87,540 82,104 Securities lending: Securities of U.S. Treasury and federal agencies 130 152 Federal agency mortgage-backed securities 240 104 Non-agency mortgage-backed securities — 1 Corporate debt securities 556 653 Equity securities (1) 7,807 6,097 Total securities lending 8,733 7,007 Total repurchases and securities lending $ 96,273 89,111 (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 March 31, 2017 Repurchase agreements $ 64,530 12,321 5,723 4,966 87,540 Securities lending 7,054 432 1,247 — 8,733 Total repurchases and securities lending (1) $ 71,584 12,753 6,970 4,966 96,273 December 31, 2016 Repurchase agreements $ 60,516 9,598 6,762 5,228 82,104 Securities lending 5,565 167 1,275 — 7,007 Total repurchases and securities lending (1) $ 66,081 9,765 8,037 5,228 89,111 (1) Securities lending is executed under agreements that allow either party to terminate the transaction without notice, while repurchase agreements have a term structure to them that technically matures at a point in time. The overnight/continuous repurchase agreements require election of both parties to roll the trade rather than the election to terminate the arrangement as in securities lending. |
Legal Actions
Legal Actions | 3 Months Ended |
Mar. 31, 2017 | |
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 2016 Form 10-K for events occurring during first quarter 2017 . INTERCHANGE LITIGATION Wells Fargo Bank, N.A., Wells Fargo & Company, Wachovia Bank, N.A. and Wachovia Corporation are named as defendants, separately or in combination, in putative class actions filed on behalf of a plaintiff class of merchants and in individual actions brought by individual merchants with regard to the interchange fees associated with Visa and MasterCard payment card transactions. These actions have been consolidated in the U.S. District Court for the Eastern District of New York. Visa, MasterCard and several banks and bank holding companies are named as defendants in 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. On November 23, 2016, prior class counsel filed a petition to the United States Supreme Court, seeking review of the reversal of the settlement by the Second Circuit, and the Supreme Court denied the petition on March 27, 2017. On November 30, 2016, the District Court appointed lead class counsel for a damages class and an equitable relief class. Several of the opt-out litigations were settled during the pendency of the Second Circuit appeal while others remain pending. Discovery is proceeding in the opt-out litigations and the remanded class cases. RMBS TRUSTEE LITIGATION In November 2014, a group of institutional investors (the “Institutional Investor Plaintiffs”) filed a putative class action complaint in the United States District Court for the Southern District of New York against Wells Fargo Bank, N.A., alleging claims against the bank in its capacity as trustee for a number of residential mortgage-backed securities (“RMBS”) trusts (the “Federal Court Complaint”). Similar complaints have been filed against other trustees in various courts, including in the Southern District of New York, in New York state court and in other states, by RMBS investors. The Federal Court Complaint alleges that Wells Fargo Bank, N.A., as trustee, caused losses to investors and asserts causes of action based upon, among other things, the trustee's alleged failure to notify and enforce repurchase obligations of mortgage loan sellers for purported breaches of representations and warranties, notify investors of alleged events of default, and abide by appropriate standards of care following alleged events of default. Plaintiffs seek money damages in an unspecified amount, reimbursement of expenses, and equitable relief. In December 2014 and December 2015, certain other investors filed four complaints alleging similar claims against Wells Fargo Bank, N.A. in the Southern District of New York, and the various cases pending against us are proceeding before the same judge. On January 19, 2016, an order was entered in connection with the Federal Court Complaint in which the District Court dismissed claims related to certain of the trusts at issue (the “Dismissed Trusts”). Our motion to dismiss the Federal Court Complaint was granted in part and denied in part in March 2017 . A complaint raising similar allegations to the Federal Court Complaint was filed in May 2016 in New York state court by a different plaintiff investor. In addition, the Institutional Investor Plaintiffs subsequently filed a complaint relating to the Dismissed Trusts and certain additional trusts in California state court (the “California Action”). The California Action was subsequently dismissed in September 2016. In December 2016, the Institutional Investor Plaintiffs filed a new putative class action complaint in New York state court in respect of 261 RMBS trusts, including the Dismissed Trusts, for which Wells Fargo Bank, N.A. serves or served as trustee. SALES PRACTICES MATTERS Federal, state and local government agencies, including the United States Department of Justice, the United States Securities and Exchange Commission and the United States Department of Labor, and state attorneys general and prosecutors’ offices, as well as Congressional committees, have undertaken formal or informal inquiries, investigations or examinations arising out of certain sales practices of the Company that were the subject of settlements with the Consumer Financial Protection Bureau, the Office of the Comptroller of the Currency and the Office of the Los Angeles City Attorney announced by the Company on September 8, 2016. The Company has responded, and continues to respond, to requests from a number of the foregoing seeking information regarding these sales practices and the circumstances of the settlements and related matters. In addition, a number of lawsuits have also been filed by non-governmental parties seeking damages or other remedies related to these sales practices. First, various class plaintiffs purporting to represent consumers who allege that they received products or services without their authorization or consent have brought eleven separate putative class action lawsuits against the Company in the United States District Court for the Northern District of California and various other jurisdictions. In April 2017, the Company entered into a settlement agreement in the first-filed action, Jabbari v. Wells Fargo Bank, N.A ., to resolve any claims regarding products or services provided without authorization or consent for the time period May 1, 2002 to April 20, 2017. Pursuant to the settlement, we will pay $142 million for remediation, attorneys’ fees, and settlement fund claims administration. The settlement is subject to approval by the District Court. Second, Wells Fargo shareholders are pursuing a consolidated securities fraud class action in the United States District Court for the Northern District of California alleging certain misstatements and omissions in the Company’s disclosures related to sales practices matters. Third, Wells Fargo shareholders have brought numerous shareholder derivative lawsuits asserting breach of fiduciary claims, among others, against current and former directors and officers for their alleged failure to detect and prevent sales practices issues, which lawsuits are consolidated into two separate actions in the United States District Court for the Northern District of California and California state court, as well as a third in Delaware state court. Fourth, a range of employment litigation has been brought against Wells Fargo, including an Employee Retirement Income Security Act class action in the United States District Court for the District of Minnesota brought on behalf of 401(k) plan participants; class actions brought in the United States District Court for the Northern District of California and New York state court on behalf of employees who allege they protested sales practice misconduct and/or were terminated for not meeting sales goals; various wage and hour class actions brought in federal and state court in California, New Jersey, and Pennsylvania on behalf of non-exempt branch based employees alleging sales pressure resulted in uncompensated overtime; and multiple single plaintiff Sarbanes-Oxley Act complaints and state law whistleblower actions filed with the Department of Labor or in various state courts alleging adverse employment action for raising sales practice misconduct issues. VA LOAN GUARANTY PROGRAM QUI TAM Wells Fargo Bank, N.A. is named as a defendant in a qui tam lawsuit, United States ex rel. Bibby & Donnelly v. Wells Fargo, et al. , brought in the U.S. District Court for the Northern District of Georgia by two individuals on behalf of the United States under the federal False Claims Act. The lawsuit was originally filed on March 8, 2006, and then unsealed on October 3, 2011. The United States elected not to intervene in the action. The plaintiffs allege that Wells Fargo charged certain impermissible closing or origination fees to borrowers under a U.S. Department of Veteran Affairs’ (“VA”) loan guaranty program and then made false statements to the VA concerning such fees in violation of the civil False Claims Act. On their behalf and on behalf of the United States, the plaintiffs seek, among other things, damages equal to three times the amount paid by the VA in connection with any loan guaranty as to which the borrower paid certain impermissible fees or charges less the net amount received by the VA upon any re-sale of collateral, statutory civil penalties of between $5,500 and $11,000 per False Claims Act violation, and attorneys’ fees. The parties have engaged in extensive discovery, and both parties have moved for judgment in their favor as a matter of law. The trial date has been postponed and a status conference is expected to be scheduled for May 2017. 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 $2.0 billion as of March 31, 2017 . The outcomes of legal actions are unpredictable and subject to significant uncertainties, and it is inherently difficult to determine whether any loss is probable or even possible. It is also inherently difficult to estimate the amount of any loss and there may be matters for which a loss is probable or reasonably possible but not currently estimable. Accordingly, actual losses may be in excess of the established liability or the range of reasonably possible loss. Wells Fargo is unable to determine whether the ultimate resolution of either the mortgage related regulatory investigations or the sales practices matters will have a material adverse effect on its consolidated financial condition. Based on information currently available, advice of counsel, available insurance coverage and established reserves, Wells Fargo believes that the eventual outcome of other actions against Wells Fargo and/or its subsidiaries will not, individually or in the aggregate, have a material adverse effect on Wells Fargo’s consolidated financial condition. However, it is possible that the ultimate resolution of a matter, if unfavorable, may be material to Wells Fargo’s results of operations for any particular period. |
Derivatives
Derivatives | 3 Months Ended |
Mar. 31, 2017 | |
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 2016 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. Table 12.1: Notional or Contractual Amounts and Fair Values of Derivatives March 31, 2017 December 31, 2016 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) $ 243,374 5,910 2,876 235,222 6,587 2,710 Foreign exchange contracts (1) 27,692 540 2,556 25,861 673 2,779 Total derivatives designated as qualifying hedging instruments 6,450 5,432 7,260 5,489 Derivatives not designated as hedging instruments Economic hedges: Interest rate contracts (2) 222,692 547 548 228,051 1,098 1,441 Equity contracts 9,036 586 98 7,964 545 83 Foreign exchange contracts 17,308 130 142 20,435 626 165 Credit contracts – protection purchased 161 85 — 482 102 — Subtotal 1,348 788 2,371 1,689 Customer accommodation trading and other derivatives: Interest rate contracts 7,231,404 57,030 60,008 6,018,370 57,583 61,058 Commodity contracts 63,882 1,738 1,348 65,532 3,057 2,551 Equity contracts 174,984 5,670 6,712 151,675 4,813 6,029 Foreign exchange contracts 325,923 7,048 6,930 318,999 9,595 9,798 Credit contracts – protection sold 10,601 142 300 10,483 85 389 Credit contracts – protection purchased 19,652 296 184 19,964 365 138 Other contracts 977 — 36 961 — 47 Subtotal 71,924 75,518 75,498 80,010 Total derivatives not designated as hedging instruments 73,272 76,306 77,869 81,699 Total derivatives before netting 79,722 81,738 85,129 87,188 Netting (3) (67,158 ) (69,277 ) (70,631 ) (72,696 ) Total $ 12,564 12,461 14,498 14,492 (1) Notional amounts presented exclude $ 1.9 billion of interest rate contracts at both March 31, 2017 , and December 31, 2016 , for certain derivatives that are combined for designation as a hedge on a single instrument. The notional amount for foreign exchange contracts at March 31, 2017 , and December 31, 2016 , excludes $9.8 billion and $9.6 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 and 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 $70.5 billion and $75.5 billion of gross derivative assets and liabilities, respectively, at March 31, 2017 , and $74.4 billion and $78.4 billion , respectively, at December 31, 2016 , 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 $9.2 billion and $6.2 billion , respectively, at March 31, 2017 , and $10.7 billion and $8.7 billion , respectively, at December 31, 2016 , 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 netting 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. We do not net non-cash collateral that we receive and pledge on the balance sheet. 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 Values of Derivative Assets and Liabilities (in millions) Gross amounts recognized Gross amounts offset in consolidated balance sheet (1) Net amounts in consolidated balance sheet Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) (2) Net amounts Percent exchanged in over-the-counter market (3) March 31, 2017 Derivative assets Interest rate contracts $ 63,487 (56,813 ) 6,674 (355 ) 6,319 31 % Commodity contracts 1,738 (734 ) 1,004 (6 ) 998 87 Equity contracts 6,256 (3,123 ) 3,133 (328 ) 2,805 71 Foreign exchange contracts 7,718 (6,142 ) 1,576 (22 ) 1,554 96 Credit contracts – protection sold 142 (54 ) 88 — 88 19 Credit contracts – protection purchased 381 (292 ) 89 (1 ) 88 99 Total derivative assets $ 79,722 (67,158 ) 12,564 (712 ) 11,852 Derivative liabilities Interest rate contracts $ 63,432 (58,885 ) 4,547 (2,038 ) 2,509 27 % Commodity contracts 1,348 (378 ) 970 (33 ) 937 83 Equity contracts 6,810 (2,939 ) 3,871 (451 ) 3,420 83 Foreign exchange contracts 9,628 (6,813 ) 2,815 (783 ) 2,032 99 Credit contracts – protection sold 300 (252 ) 48 (40 ) 8 96 Credit contracts – protection purchased 184 (10 ) 174 (33 ) 141 14 Other contracts 36 — 36 — 36 100 Total derivative liabilities $ 81,738 (69,277 ) 12,461 (3,378 ) 9,083 December 31, 2016 Derivative assets Interest rate contracts $ 65,268 (59,880 ) 5,388 (987 ) 4,401 34 % Commodity contracts 3,057 (707 ) 2,350 (30 ) 2,320 74 Equity contracts 5,358 (3,018 ) 2,340 (365 ) 1,975 75 Foreign exchange contracts 10,894 (6,663 ) 4,231 (362 ) 3,869 97 Credit contracts – protection sold 85 (48 ) 37 — 37 61 Credit contracts – protection purchased 467 (315 ) 152 (1 ) 151 98 Total derivative assets $ 85,129 (70,631 ) 14,498 (1,745 ) 12,753 Derivative liabilities Interest rate contracts $ 65,209 (58,956 ) 6,253 (3,129 ) 3,124 30 % Commodity contracts 2,551 (402 ) 2,149 (37 ) 2,112 38 Equity contracts 6,112 (2,433 ) 3,679 (331 ) 3,348 85 Foreign exchange contracts 12,742 (10,572 ) 2,170 (251 ) 1,919 100 Credit contracts – protection sold 389 (295 ) 94 (44 ) 50 98 Credit contracts – protection purchased 138 (38 ) 100 (2 ) 98 50 Other contracts 47 — 47 — 47 100 Total derivative liabilities $ 87,188 (72,696 ) 14,492 (3,794 ) 10,698 (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 $288 million and $348 million related to derivative assets and $99 million and $114 million related to derivative liabilities at March 31, 2017 , and December 31, 2016 , respectively. Cash collateral totaled $3.7 billion and $6.0 billion , netted against derivative assets and liabilities, respectively, at March 31, 2017 , and $4.8 billion and $7.1 billion , respectively, at December 31, 2016 . (2) 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. (3) 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 1 (Summary of Significant Accounting Policies) and Note 16 (Derivatives) to Financial Statements in our 2016 Form 10-K. Table 12.3 shows the net gains (losses) recognized in the income statement related to derivatives in fair value hedging relationships. 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 March 31, 2017 Net interest income (expense) recognized on derivatives (1) $ (131 ) (2 ) 427 4 (33 ) 265 Gains (losses) recorded in noninterest income Recognized on derivatives 126 (1 ) (564 ) (42 ) 157 (324 ) Recognized on hedged item (141 ) — 540 44 (311 ) 132 Net recognized on fair value hedges (ineffective portion) $ (15 ) (1 ) (24 ) 2 (154 ) (192 ) Quarter ended March 31, 2016 Net interest income (expense) recognized on derivatives (1) $ (181 ) (2 ) 482 — 16 315 Gains (losses) recorded in noninterest income Recognized on derivatives (1,683 ) (37 ) 3,103 (66 ) 1,618 2,935 Recognized on hedged item 1,691 33 (2,807 ) 59 (1,402 ) (2,426 ) Net recognized on fair value hedges (ineffective portion) $ 8 (4 ) 296 (7 ) 216 509 (1) Includes $(1) million and $(4) million , respectively, for the quarters ended March 31, 2017 and 2016 , of the time value component recognized as net interest income (expense) on forward derivatives hedging foreign currency 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 1 (Summary of Significant Accounting Policies) and Note 16 (Derivatives) to Financial Statements in our 2016 Form 10-K. Based upon current interest rates, we estimate that $416 million (pre tax) of deferred net gains on derivatives in OCI at March 31, 2017 , 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 6 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 March 31, (in millions) 2017 2016 Gains (losses) (pre tax) recognized in OCI on derivatives (133 ) 1,999 Gains (pre tax) reclassified from cumulative OCI into net income (1) 202 256 Gains (losses) (pre tax) recognized in noninterest income for hedge ineffectiveness (2) (3 ) 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, residential MSRs measured at fair value, derivative loan commitments and other interests held. We also use economic hedge derivatives to mitigate the periodic earnings volatility caused by ineffectiveness recognized on our fair value accounting hedges. 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 $(72) million in first quarter 2017 and $1.5 billion in first quarter 2016 , which are included in mortgage banking noninterest income. The aggregate fair value of these derivatives was a net asset of $228 million at March 31, 2017 , and net liability of $617 million at December 31, 2016 . 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 $113 million and net liability of $6 million at March 31, 2017 , and December 31, 2016 , 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 2016 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 March 31, (in millions) 2017 2016 Net gains (losses) recognized on economic hedges derivatives: Interest rate contracts Recognized in noninterest income: Mortgage banking (1) (9 ) 865 Other (2) 6 (135 ) Equity contracts (3) (481 ) 83 Foreign exchange contracts (2) (93 ) (166 ) Credit contracts (2) 4 — Subtotal (4) (573 ) 647 Net gains (losses) recognized on customer accommodation trading and other derivatives: Interest rate contracts Recognized in noninterest income: Mortgage banking (5) 193 465 Other (6) 45 (450 ) Commodity contracts (6) 60 53 Equity contracts (6) (1,109 ) 20 Foreign exchange contracts (6) 185 222 Credit contracts (6) (15 ) (16 ) Other (2) 12 (21 ) Subtotal (629 ) 273 Net gains (losses) recognized related to derivatives not designated as hedging instruments (1,202 ) 920 (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) Includes hedging gains (losses) of $2 million and $(131) million for first quarter 2017 , and 2016 , respectively, which partially offset hedge accounting ineffectiveness. (5) Reflected in mortgage banking noninterest income including gains (losses) on interest rate lock commitments and net gains from trading activities in noninterest income. (6) 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 March 31, 2017 Credit default swaps on: Corporate bonds $ 15 3,306 1,645 2,577 729 1,024 2017 - 2026 Structured products 141 306 271 245 61 209 2020 - 2047 Credit protection on: Default swap index — 3,043 665 241 2,802 4,168 2017 - 2027 Commercial mortgage-backed securities index 126 499 — 461 38 66 2047 - 2058 Asset-backed securities index 17 44 — 40 4 5 2045 - 2046 Other 1 3,403 3,403 — 3,403 10,777 2017 - 2028 Total credit derivatives $ 300 10,601 5,984 3,564 7,037 16,249 December 31, 2016 Credit default swaps on: Corporate bonds $ 22 4,324 1,704 3,060 1,264 1,804 2017 - 2026 Structured products 193 405 333 295 110 79 2020 - 2047 Credit protection on: Default swap index — 1,515 257 139 1,376 3,668 2017 - 2021 Commercial mortgage-backed securities index 156 627 — 584 43 71 2047 - 2058 Asset-backed securities index 17 45 — 40 5 187 2045 - 2046 Other 1 3,567 3,568 — 3,567 10,519 2017 - 2047 Total credit derivatives $ 389 10,483 5,862 4,118 6,365 16,328 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 $11.3 billion at March 31, 2017 , and $12.8 billion at December 31, 2016 , for which we posted $8.3 billion and $8.9 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 March 31, 2017 , or December 31, 2016 , we would have been required to post additional collateral of $3.0 billion or $4.0 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 | 3 Months Ended |
Mar. 31, 2017 | |
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 2016 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 2016 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 2016 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 March 31, 2017 Trading assets $ — — — 648 55 — Available-for-sale securities: Securities of U.S. Treasury and federal agencies — — — 21,672 2,953 — Securities of U.S. states and political subdivisions — — — — 50,701 214 Mortgage-backed securities — 69 — — 170,540 89 Other debt securities (1) — 777 861 — 46,797 250 Total debt securities — 846 861 21,672 270,991 553 Total marketable equity securities — — — — 293 — Total available-for-sale securities — 846 861 21,672 271,284 553 Derivatives assets — — — 25 7 — Derivatives liabilities — — — (21 ) (2 ) — Other liabilities (2) — — — — — — December 31, 2016 Trading assets $ — — — 899 60 — Available-for-sale securities: Securities of U.S. Treasury and federal agencies — — — 22,870 2,949 — Securities of U.S. states and political subdivisions — — — — 49,837 208 Mortgage-backed securities — 171 — — 176,923 92 Other debt securities (1) — 450 968 — 49,162 54 Total debt securities — 621 968 22,870 278,871 354 Total marketable equity securities — — — — 358 — Total available-for-sale securities — 621 968 22,870 279,229 354 Derivatives assets — — — 22 — — Derivatives liabilities — — — (109 ) (1 ) — Other liabilities (2) — — — — — — (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 March 31, 2017 Trading assets Securities of U.S. Treasury and federal agencies $ 12,369 3,436 — — 15,805 Securities of U.S. states and political subdivisions — 3,330 3 — 3,333 Collateralized loan obligations — 426 398 — 824 Corporate debt securities — 9,252 37 — 9,289 Mortgage-backed securities — 20,466 — — 20,466 Asset-backed securities — 794 — — 794 Equity securities 28,414 246 — — 28,660 Total trading securities (1) 40,783 37,950 438 — 79,171 Other trading assets — 1,129 26 — 1,155 Total trading assets 40,783 39,079 464 — 80,326 Securities of U.S. Treasury and federal agencies 21,672 2,953 — — 24,625 Securities of U.S. states and political subdivisions — 50,701 1,360 (2) — 52,061 Mortgage-backed securities: Federal agencies — 156,966 — — 156,966 Residential — 7,592 1 — 7,593 Commercial — 6,551 89 — 6,640 Total mortgage-backed securities — 171,109 90 — 171,199 Corporate debt securities 60 9,979 391 — 10,430 Collateralized loan and other debt obligations (3) — 33,045 964 (2) — 34,009 Asset-backed securities: Automobile loans and leases — 11 — — 11 Home equity loans — 319 — — 319 Other asset-backed securities — 4,905 845 (2) — 5,750 Total asset-backed securities — 5,235 845 — 6,080 Other debt securities — 1 — — 1 Total debt securities 21,732 273,023 3,650 — 298,405 Marketable equity securities: Perpetual preferred securities 190 292 — — 482 Other marketable equity securities 642 1 — — 643 Total marketable equity securities 832 293 — — 1,125 Total available-for-sale securities 22,564 273,316 3,650 — 299,530 Mortgages held for sale — 13,061 957 — 14,018 Loans — — 505 — 505 Mortgage servicing rights (residential) — — 13,208 — 13,208 Derivative assets: Interest rate contracts 28 63,205 254 — 63,487 Commodity contracts — 1,701 37 — 1,738 Equity contracts 1,808 3,215 1,233 — 6,256 Foreign exchange contracts 25 7,679 14 — 7,718 Credit contracts — 294 229 — 523 Netting — — — (67,158 ) (4) (67,158 ) Total derivative assets 1,861 76,094 1,767 (67,158 ) 12,564 Other assets – excluding nonmarketable equity investments at NAV — 40 3,740 — 3,780 Total assets included in the fair value hierarchy $ 65,208 401,590 24,291 (67,158 ) 423,931 Other assets – nonmarketable equity investments at NAV (5) — Total assets recorded at fair value $ 423,931 Derivative liabilities: Interest rate contracts $ (19 ) (63,377 ) (36 ) — (63,432 ) Commodity contracts — (1,330 ) (18 ) — (1,348 ) Equity contracts (1,164 ) (4,114 ) (1,532 ) — (6,810 ) Foreign exchange contracts (21 ) (9,596 ) (11 ) — (9,628 ) Credit contracts — (342 ) (142 ) — (484 ) Other derivative contracts — — (36 ) — (36 ) Netting — — — 69,277 (4) 69,277 Total derivative liabilities (1,204 ) (78,759 ) (1,775 ) 69,277 (12,461 ) Short sale liabilities: Securities of U.S. Treasury and federal agencies (12,164 ) (809 ) — — (12,973 ) Corporate debt securities — (4,712 ) — — (4,712 ) Equity securities (2,246 ) — — — (2,246 ) Other securities — (51 ) — — (51 ) Total short sale liabilities (14,410 ) (5,572 ) — — (19,982 ) Other liabilities — — (4 ) — (4 ) Total liabilities recorded at fair value $ (15,614 ) (84,331 ) (1,779 ) 69,277 (32,447 ) (1) Net gains (losses) from trading activities recognized in the income statement for the quarters ended March 31, 2017 and 2016 include $587 million and $572 million in net unrealized gains (losses) on trading securities held at March 31, 2017 and 2016 , 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 $945 million . (4) Represents balance sheet netting of derivative asset and liability balances and related cash collateral. See Note 12 (Derivatives) for additional information. (5) 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, 2016 Trading assets Securities of U.S. Treasury and federal agencies $ 14,950 2,710 — — 17,660 Securities of U.S. states and political subdivisions — 2,910 3 — 2,913 Collateralized loan obligations — 501 309 — 810 Corporate debt securities — 9,481 34 — 9,515 Mortgage-backed securities — 20,254 — — 20,254 Asset-backed securities — 1,128 — — 1,128 Equity securities 20,462 290 — — 20,752 Total trading securities (1) 35,412 37,274 346 — 73,032 Other trading assets — 1,337 28 — 1,365 Total trading assets 35,412 38,611 374 — 74,397 Securities of U.S. Treasury and federal agencies 22,870 2,949 — — 25,819 Securities of U.S. states and political subdivisions — 49,961 1,140 (2) — 51,101 Mortgage-backed securities: Federal agencies — 161,230 — — 161,230 Residential — 7,815 1 — 7,816 Commercial — 8,411 91 — 8,502 Total mortgage-backed securities — 177,456 92 — 177,548 Corporate debt securities 58 10,967 432 — 11,457 Collateralized loan and other debt obligations (3) — 34,141 879 (2) — 35,020 Asset-backed securities: Automobile loans and leases — 9 — — 9 Home equity loans — 327 — — 327 Other asset-backed securities — 4,909 962 (2) — 5,871 Total asset-backed securities — 5,245 962 — 6,207 Other debt securities — 1 — — 1 Total debt securities 22,928 280,720 3,505 — 307,153 Marketable equity securities: Perpetual preferred securities 112 357 — — 469 Other marketable equity securities 741 1 — — 742 Total marketable equity securities 853 358 — — 1,211 Total available-for-sale securities 23,781 281,078 3,505 — 308,364 Mortgages held for sale — 21,057 985 — 22,042 Loans — — 758 — 758 Mortgage servicing rights (residential) — — 12,959 — 12,959 Derivative assets: Interest rate contracts 44 64,986 238 — 65,268 Commodity contracts — 3,020 37 — 3,057 Equity contracts 1,314 2,997 1,047 — 5,358 Foreign exchange contracts 22 10,843 29 — 10,894 Credit contracts — 280 272 — 552 Netting — — — (70,631 ) (4) (70,631 ) Total derivative assets 1,380 82,126 1,623 (70,631 ) 14,498 Other assets – excluding nonmarketable equity investments at NAV — 16 3,259 — 3,275 Total assets included in the fair value hierarchy $ 60,573 422,888 23,463 (70,631 ) 436,293 Other assets – nonmarketable equity investments at NAV (5) — Total assets recorded at fair value $ 436,293 Derivative liabilities: Interest rate contracts $ (45 ) (65,047 ) (117 ) — (65,209 ) Commodity contracts — (2,537 ) (14 ) — (2,551 ) Equity contracts (919 ) (3,879 ) (1,314 ) — (6,112 ) Foreign exchange contracts (109 ) (12,616 ) (17 ) — (12,742 ) Credit contracts — (332 ) (195 ) — (527 ) Other derivative contracts — — (47 ) — (47 ) Netting — — — 72,696 (4) 72,696 Total derivative liabilities (1,073 ) (84,411 ) (1,704 ) 72,696 (14,492 ) Short sale liabilities: Securities of U.S. Treasury and federal agencies (9,722 ) (701 ) — — (10,423 ) Corporate debt securities — (4,063 ) — — (4,063 ) Equity securities (1,795 ) — — — (1,795 ) Other securities — (98 ) — — (98 ) Total short sale liabilities (11,517 ) (4,862 ) — — (16,379 ) Other liabilities — — (4 ) — (4 ) Total liabilities recorded at fair value $ (12,590 ) (89,273 ) (1,708 ) 72,696 (30,875 ) (1) Net gains (losses) from trading activities recognized in the income statement for the year ended December 31, 2016 , include $820 million in net unrealized gains (losses) on trading securities held at December 31, 2016 . (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 $847 million . (4) Represents balance sheet netting of derivative asset and liability balances and related cash collateral. See Note 12 (Derivatives) for additional information. (5) 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 March 31, 2017 Trading assets $ — — 1 (3 ) 3 (1 ) — Available-for-sale securities — — 72 (5 ) 5 (72 ) — Mortgages held for sale — — 1 (42 ) 42 (1 ) — Net derivative assets and liabilities (2) — — 3 22 (22 ) (3 ) — Short sale liabilities — — — — — — — Total transfers $ — — 77 (28 ) 28 (77 ) — Quarter ended March 31, 2016 Trading assets $ 4 — 11 (4 ) — (11 ) — Available-for-sale securities — — — (80 ) 80 — — Mortgages held for sale — — 2 (29 ) 29 (2 ) — Net derivative assets and liabilities (2) — — 62 (25 ) 25 (62 ) — Short sale liabilities (1 ) — — 1 — — — Total transfers $ 3 — 75 (137 ) 134 (75 ) — (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. The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarter ended March 31, 2017 , are presented in Table 13.4 . Table 13.4: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – Quarter ended March 31, 2017 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 March 31, 2017 Trading assets: Securities of U.S. states and political subdivisions $ 3 — — — — — 3 — Collateralized loan obligations 309 4 — 85 — — 398 — Corporate debt securities 34 — — 1 3 (1 ) 37 — Mortgage-backed securities — — — — — — — — Asset-backed securities — — — — — — — — Equity securities — — — — — — — — Total trading securities 346 4 — 86 3 (1 ) 438 — Other trading assets 28 (2 ) — — — — 26 (1 ) Total trading assets 374 2 — 86 3 (1 ) 464 (1 ) (3) Available-for-sale securities: Securities of U.S. states and political subdivisions 1,140 — 2 285 5 (72 ) 1,360 — Mortgage-backed securities: Residential 1 — — — — — 1 — Commercial 91 (3 ) 4 (3 ) — — 89 (4 ) Total mortgage-backed securities 92 (3 ) 4 (3 ) — — 90 (4 ) Corporate debt securities 432 (14 ) 8 (35 ) — — 391 — Collateralized loan and other debt obligations 879 5 41 39 — — 964 — Asset-backed securities: Automobile loans and leases — — — — — — — — Other asset-backed securities 962 — 2 (119 ) — — 845 — Total asset-backed securities 962 — 2 (119 ) — — 845 — Total debt securities 3,505 (12 ) 57 167 5 (72 ) 3,650 (4 ) (4) Marketable equity securities: Perpetual preferred securities — — — — — — — — Other marketable equity securities — — — — — — — — Total marketable equity securities — — — — — — — — (5) Total available-for-sale securities 3,505 (12 ) 57 167 5 (72 ) 3,650 (4 ) Mortgages held for sale 985 (9 ) — (60 ) 42 (1 ) 957 (11 ) (6) Loans 758 (6 ) — (247 ) — — 505 (5 ) (6) Mortgage servicing rights (residential) (7) 12,959 (287 ) — 536 — — 13,208 174 (6) Net derivative assets and liabilities: Interest rate contracts 121 209 — (112 ) — — 218 85 Commodity contracts 23 2 — (6 ) — — 19 7 Equity contracts (267 ) (44 ) — 37 (22 ) (3 ) (299 ) (57 ) Foreign exchange contracts 12 (9 ) — — — — 3 (5 ) Credit contracts 77 7 — 3 — — 87 (14 ) Other derivative contracts (47 ) 11 — — — — (36 ) 11 Total derivative contracts (81 ) 176 — (78 ) (22 ) (3 ) (8 ) 27 (8) Other assets 3,259 481 — — — — 3,740 485 (5) Short sale liabilities — — — — — — — — (3) Other liabilities (4 ) — — — — — (4 ) — (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 March 31, 2017 . Table 13.5: Gross Purchases, Sales, Issuances and Settlements – Level 3 – Quarter ended March 31, 2017 (in millions) Purchases Sales Issuances Settlements Net Quarter ended March 31, 2017 Trading assets: Securities of U.S. states and political subdivisions $ 1 (1 ) — — — Collateralized loan obligations 199 (76 ) — (38 ) 85 Corporate debt securities 6 (5 ) — — 1 Mortgage-backed securities — — — — — Asset-backed securities — — — — — Equity securities — — — — — Total trading securities 206 (82 ) — (38 ) 86 Other trading assets — — — — — Total trading assets 206 (82 ) — (38 ) 86 Available-for-sale securities: Securities of U.S. states and political subdivisions — — 346 (61 ) 285 Mortgage-backed securities: Residential — — — — — Commercial — — — (3 ) (3 ) Total mortgage-backed securities — — — (3 ) (3 ) Corporate debt securities 4 — — (39 ) (35 ) Collateralized loan and other debt obligations 72 — — (33 ) 39 Asset-backed securities: Automobile loans and leases — — — — — Other asset-backed securities — — 21 (140 ) (119 ) Total asset-backed securities — — 21 (140 ) (119 ) Total debt securities 76 — 367 (276 ) 167 Marketable equity securities: Perpetual preferred securities — — — — — Other marketable equity securities — — — — — Total marketable equity securities — — — — — Total available-for-sale securities 76 — 367 (276 ) 167 Mortgages held for sale 22 (156 ) 106 (32 ) (60 ) Loans 1 (129 ) 6 (125 ) (247 ) Mortgage servicing rights (residential) (1) — (47 ) 583 — 536 Net derivative assets and liabilities: Interest rate contracts — — — (112 ) (112 ) Commodity contracts — — — (6 ) (6 ) Equity contracts — — — 37 37 Foreign exchange contracts — — — — — Credit contracts 2 (1 ) — 2 3 Other derivative contracts — — — — — Total derivative contracts 2 (1 ) — (79 ) (78 ) Other assets — — — — — Short sale liabilities — — — — — Other liabilities — — — — — (1) For more information on the changes in mortgage servicing rights, see Note 8 (Mortgage Banking Activities). The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarter ended March 31, 2016 , are presented in Table 13.6 . Table 13.6: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – Quarter ended March 31, 2016 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 March 31, 2016 Trading assets: Securities of U.S. states and political subdivisions $ 8 — — — — — 8 — Collateralized loan obligations 343 (25 ) — (39 ) — (11 ) 268 (23 ) Corporate debt securities 56 (5 ) — (18 ) — — 33 (4 ) Mortgage-backed securities — — — — — — — — Asset-backed securities — — — — — — — — Equity securities — — — — — — — — Total trading securities 407 (30 ) — (57 ) — (11 ) 309 (27 ) Other trading assets 34 (2 ) — — — — 32 — Total trading assets 441 (32 ) — (57 ) — (11 ) 341 (27 ) (3) Available-for-sale securities: Securities of U.S. states and political subdivisions 1,500 1 3 (127 ) 80 — 1,457 — Mortgage-backed securities: Residential 1 — — — — — 1 — Commercial 73 — — — — — 73 — Total mortgage-backed securities 74 — — — — — 74 — Corporate debt securities 405 2 19 27 — — 453 — Collateralized loan and other debt obligations 565 15 (24 ) 257 — — 813 — Asset-backed securities: Automobile loans and leases — — — — — — — — Other asset-backed securities 1,182 — — 58 — — 1,240 — Total asset-backed securities 1,182 — — 58 — — 1,240 — Total debt securities 3,726 18 (2 ) 215 80 — 4,037 — (4) Marketable equity securities: Perpetual preferred securities — — — — — — — — Other marketable equity securities — — — — — — — — Total marketable equity securities — — — — — — — — (5) Total available-for-sale securities 3,726 18 (2 ) 215 80 — 4,037 — Mortgages held for sale 1,082 24 — (62 ) 29 (2 ) 1,071 21 (6) Loans 5,316 (1 ) — (94 ) — — 5,221 (2 ) (6) Mortgage servicing rights (residential) (7) 12,415 (1,448 ) — 366 — — 11,333 (957 ) (6) Net derivative assets and liabilities: Interest rate contracts 288 599 — (379 ) — (7 ) 501 270 Commodity contracts 12 2 — (3 ) — — 11 3 Equity contracts (111 ) (2 ) — (140 ) 25 (55 ) (283 ) (147 ) Foreign exchange contracts — — — — — — — — Credit contracts (3 ) 9 — (6 ) — — — (1 ) Other derivative contracts (58 ) (21 ) — 2 — — (77 ) (21 ) Total derivative contracts 128 587 — (526 ) 25 (62 ) 152 104 (8) Other assets 3,065 (57 ) — 89 — — 3,097 (58 ) (5) Short sale liabilities — — — — — — — — (3) Other liabilities (30 ) — — 25 — — (5 ) — (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 March 31, 2016 . Table 13.7: Gross Purchases, Sales, Issuances and Settlements – Level 3 – Quarter ended March 31, 2016 (in millions) Purchases Sales Issuances Settlements Net Quarter ended March 31, 2016 Trading assets: Securities of U.S. states and political subdivisions $ — — — — — Collateralized loan obligations 56 (95 ) — — (39 ) Corporate debt securities 3 (21 ) — — (18 ) Mortgage-backed securities — — — — — Asset-backed securities — — — — — Equity securities — — — — — Total trading securities 59 (116 ) — — (57 ) Other trading assets — — — — — Total trading assets 59 (116 ) — — (57 ) Available-for-sale securities: Securities of U.S. states and political subdivisions 28 — 16 (171 ) (127 ) Mortgage-backed securities: Residential — — — — — Commercial — — — — — Total mortgage-backed securities — — — — — Corporate debt securities 28 — — (1 ) 27 Collateralized loan and other debt obligations 301 — — (44 ) 257 Asset-backed securities: Automobile loans and leases — — — — — Other asset-backed securities — — 160 (102 ) 58 Total asset-backed securities — — 160 (102 ) 58 Total debt securities 357 — 176 (318 ) 215 Marketable equity securities: Perpetual preferred securities — — — — — Other marketable equity securities — — — — — Total marketable equity securities — — — — — Total available-for-sale securities 357 — 176 (318 ) 215 Mortgages held for sale 22 (159 ) 118 (43 ) (62 ) Loans 4 — 88 (186 ) (94 ) Mortgage servicing rights (residential) (1) — — 366 — 366 Net derivative assets and liabilities: Interest rate contracts — — — (379 ) (379 ) Commodity contracts — — — (3 ) (3 ) Equity contracts 13 (147 ) — (6 ) (140 ) Foreign exchange contracts — — — — — Credit contracts 3 — — (9 ) (6 ) Other derivative contracts — — — 2 2 Total derivative contracts 16 (147 ) — (395 ) (526 ) Other assets 89 — — — 89 Short sale liabilities — — — — — Other liabilities — — — 25 25 (1) For more information on the changes in mortgage servicing rights, see Note 8 (Mortgage Banking Activities). Table 13.8 and Table 13.9 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 2016 Form 10-K. Table 13.8: Valuation Techniques – Recurring Basis – March 31, 2017 ($ in millions, except cost to service amounts) Fair Value Level 3 Valuation Technique(s) Significant Unobservable Input Range of Inputs Weighted Average (1) March 31, 2017 Trading and available-for-sale securities: Securities of U.S. states and political subdivisions: Government, healthcare and other revenue bonds $ 1,120 Discounted cash flow Discount rate 1.2 - 5.0 % 2.0 Auction rate securities and other municipal bonds 29 Discounted cash flow Discount rate 4.1 - 4.6 4.3 214 Vendor priced Collateralized loan and other debt obligations (2) 398 Market comparable pricing Comparability adjustment (19.8 ) - 20.3 1.6 964 Vendor priced Asset-backed securities: Diversified payment rights (3) 401 Discounted cash flow Discount rate 1.7 - 4.3 3.1 Other commercial and consumer 417 (4) Discounted cash flow Discount rate 3.3 - 4.7 4.2 Weighted average life 0.6 - 4.0 yrs 2.8 27 Vendor priced Mortgages held for sale (residential) 928 Discounted cash flow Default rate 0.5 - 8.1 % 1.8 Discount rate 2.1 - 7.0 5.3 Loss severity 0.1 - 45.9 28.1 Prepayment rate 6.2 - 17.2 10.0 29 Market comparable pricing Comparability adjustment (53.3 ) - 0.0 (36.3 ) Loans 505 (5) Discounted cash flow Discount rate 0.0 - 7.2 0.2 Prepayment rate 9.4 - 100.0 95.0 Mortgage servicing rights (residential) 13,208 Discounted cash flow Cost to service per loan (6) $ 79 - 562 150 Discount rate 6.6 - 18.8 % 6.9 Prepayment rate (7) 9.2 - 21.2 10.2 Net derivative assets and (liabilities): Interest rate contracts 105 Discounted cash flow Default rate 0.0 - 6.8 1.7 Loss severity 50.0 - 50.0 50.0 Prepayment rate 2.8 - 12.5 9.6 Interest rate contracts: derivative loan commitments 113 Discounted cash flow Fall-out factor 1.0 - 99.0 21.0 Initial-value servicing (23.8 ) - 131.2 bps 61.0 Equity contracts 94 Discounted cash flow Conversion factor (10.3 ) - 0.0 % (7.9 ) Weighted average life 0.8 - 2.8 yrs 1.7 (393 ) Option model Correlation factor (77.0 ) - 98.5 % 37.6 Volatility factor 5.0 - 100.0 19.7 Credit contracts 0 (8) Market comparable pricing Comparability adjustment (23.8 ) - 29.1 1.0 87 Option model Credit spread 0.0 - 9.4 1.1 Loss severity 12.0 - 60.0 48.4 Other assets: nonmarketable equity investments 17 Discounted cash flow Discount rate 5.0 - 10.3 9.0 Volatility Factor 0.4 2.8 1.4 3,723 Market comparable pricing Comparability adjustment (21.0 ) - (4.8 ) (15.6 ) Insignificant Level 3 assets, net of liabilities 526 (9) Total level 3 assets, net of liabilities $ 22,512 (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 $945 million of collateralized debt obligations. (3) Securities backed by specified sources of current and future receivables generated from foreign originators. (4) A significant portion of the balance consists of investments in asset-backed securities that are revolving in nature, for 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 $79 - $280 . (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) Consists of $15 million of derivative assets and $15 million derivative liabilities. (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, foreign exchange contracts, and other derivative contracts. (10) Consists of total Level 3 assets of $24.3 billion and total Level 3 liabilities of $1.8 billion , before netting of derivative balances. Table 13.9: Valuation Techniques – Recurring Basis – December 31, 2016 ($ in millions, except cost to service amounts) Fair Value Level 3 Valuation Technique(s) Significant Unobser |
Preferred Stock
Preferred Stock | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 December 31, 2016 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 (1) — — 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 5.90% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 25,000 80,000 25,000 80,000 Series T 6.00% 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 6.00% Non-Cumulative Perpetual Class A Preferred Stock 25,000 40,000 25,000 40,000 Series W 5.70% Non-Cumulative Perpetual Class A Preferred Stock 25,000 40,000 25,000 40,000 Series X 5.50% Non-Cumulative Perpetual Class A Preferred Stock 25,000 46,000 25,000 46,000 ESOP Cumulative Convertible Preferred Stock (2) — 2,389,181 — 1,439,181 Total 12,841,891 11,941,891 (1) On January 26, 2017, we filed with the Delaware Secretary of State a Certificate Eliminating the Certificate of Designations with respect to the Series H preferred stock. (2) 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 March 31, 2017 December 31, 2016 (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) 5.90% 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) 6.00% 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) 6.00% Non-Cumulative Perpetual Class A Preferred Stock 40,000 1,000 1,000 — 40,000 1,000 1,000 — Series W (1) 5.70% Non-Cumulative Perpetual Class A Preferred Stock 40,000 1,000 1,000 — 40,000 1,000 1,000 — Series X (1) 5.50% Non-Cumulative Perpetual Class A Preferred Stock 46,000 1,150 1,150 — 46,000 1,150 1,150 — ESOP Cumulative Convertible Preferred Stock 2,389,181 2,389 2,389 — 1,439,181 1,439 1,439 — Total 12,482,712 $ 26,900 25,501 1,399 11,532,712 $ 25,950 24,551 1,399 (1) Preferred shares qualify as Tier 1 capital. See Note 7 (Securitizations and Variable Interest Entities) for additional information on our trust preferred securities. 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) Mar 31, Dec 31, Mar 31, Dec 31, Minimum Maximum ESOP Preferred Stock $1,000 liquidation preference per share 2017 950,000 — $ 950 — 7.00 % 8.00 2016 358,528 358,528 358 358 9.30 10.30 2015 200,820 200,820 201 201 8.90 9.90 2014 255,413 255,413 255 255 8.70 9.70 2013 222,558 222,558 223 223 8.50 9.50 2012 144,072 144,072 144 144 10.00 11.00 2011 149,301 149,301 149 149 9.00 10.00 2010 90,775 90,775 91 91 9.50 10.50 2008 17,714 17,714 18 18 10.50 11.50 Total ESOP Preferred Stock (1) 2,389,181 1,439,181 $ 2,389 1,439 Unearned ESOP shares (2) $ (2,546 ) (1,565 ) (1) At March 31, 2017 and December 31, 2016 , additional paid-in capital included $157 million and $126 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 | 3 Months Ended |
Mar. 31, 2017 | |
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 2017 2016 Pension benefits Pension benefits (in millions) Qualified Non-qualified Other benefits Qualified Non-qualified Other benefits Quarter ended March 31, Service cost $ 1 — — 1 — — Interest cost 103 6 7 109 7 10 Expected return on plan assets (163 ) — (7 ) (142 ) — (8 ) Amortization of net actuarial loss (gain) 38 2 (2 ) 33 3 (1 ) Amortization of prior service credit — — (3 ) — — — Settlement loss 1 2 — — 2 — Net periodic benefit cost (income) $ (20 ) 10 (5 ) 1 12 1 |
Earnings Per Common Share
Earnings Per Common Share | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, (in millions, except per share amounts) 2017 2016 Wells Fargo net income $ 5,457 5,462 Less: Preferred stock dividends and other 401 377 Wells Fargo net income applicable to common stock (numerator) $ 5,056 5,085 Earnings per common share Average common shares outstanding (denominator) 5,008.6 5,075.7 Per share $ 1.01 1.00 Diluted earnings per common share Average common shares outstanding 5,008.6 5,075.7 Add: Stock options 21.2 21.2 Restricted share rights 28.0 31.7 Warrants 12.6 10.8 Diluted average common shares outstanding (denominator) 5,070.4 5,139.4 Per share $ 1.00 0.99 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 March 31, (in millions) 2017 2016 Options 2.2 4.4 |
Other Comprehensive Income
Other Comprehensive Income | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 2016 (in millions) Before tax Tax effect Net of tax Before tax Tax effect Net of tax Investment securities: Net unrealized gains arising during the period $ 369 (133 ) 236 795 (310 ) 485 Reclassification of net (gains) losses to net income: Interest income on investment securities (1) 7 (3 ) 4 — — — Net gains on debt securities (36 ) 13 (23 ) (244 ) 91 (153 ) Net gains from equity investments (116 ) 44 (72 ) (59 ) 22 (37 ) Other noninterest income — — — (1 ) — (1 ) Subtotal reclassifications to net income (145 ) 54 (91 ) (304 ) 113 (191 ) Net change 224 (79 ) 145 491 (197 ) 294 Derivatives and hedging activities: Net unrealized gains (losses) arising during the period (133 ) 50 (83 ) 1,999 (753 ) 1,246 Reclassification of net (gains) losses to net income: Interest income on loans (205 ) 77 (128 ) (260 ) 98 (162 ) Interest expense on long-term debt 3 (1 ) 2 4 (2 ) 2 Subtotal reclassifications to net income (202 ) 76 (126 ) (256 ) 96 (160 ) Net change (335 ) 126 (209 ) 1,743 (657 ) 1,086 Defined benefit plans adjustments: Net actuarial and prior service losses arising during the period (7 ) 3 (4 ) (8 ) 3 (5 ) Reclassification of amounts to net periodic benefit costs (2): Amortization of net actuarial loss 38 (14 ) 24 35 (13 ) 22 Settlements and other — — — 2 (1 ) 1 Subtotal reclassifications to net periodic benefit costs 38 (14 ) 24 37 (14 ) 23 Net change 31 (11 ) 20 29 (11 ) 18 Foreign currency translation adjustments: Net unrealized gains arising during the period 16 1 17 43 8 51 Net change 16 1 17 43 8 51 Other comprehensive income (loss) $ (64 ) 37 (27 ) 2,306 (857 ) 1,449 Less: Other comprehensive income (loss) from noncontrolling interests, net of tax 14 (28 ) Wells Fargo other comprehensive income (loss), net of tax $ (41 ) 1,477 (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 March 31, 2017 Balance, beginning of period $ (1,099 ) 89 (1,943 ) (184 ) (3,137 ) Net unrealized gains (losses) arising during the period 236 (83 ) (4 ) 17 166 Amounts reclassified from accumulated other comprehensive income (91 ) (126 ) 24 — (193 ) Net change 145 (209 ) 20 17 (27 ) Less: Other comprehensive income from noncontrolling interests 13 — — 1 14 Balance, end of period $ (967 ) (120 ) (1,923 ) (168 ) (3,178 ) Quarter ended March 31, 2016 Balance, beginning of period $ 1,813 620 (1,951 ) (185 ) 297 Net unrealized gains (losses) arising during the period 485 1,246 (5 ) 51 1,777 Amounts reclassified from accumulated other comprehensive income (191 ) (160 ) 23 — (328 ) Net change 294 1,086 18 51 1,449 Less: Other comprehensive income (loss) from noncontrolling interests (30 ) — — 2 (28 ) Balance, end of period $ 2,137 1,706 (1,933 ) (136 ) 1,774 |
Operating Segments
Operating Segments | 3 Months Ended |
Mar. 31, 2017 | |
Segment Reporting [Abstract] | |
Operating Segments | Note 18: Operating Segments We have three reportable operating segments: Community Banking; Wholesale Banking; and Wealth and Investment Management (WIM). 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 2016 Form 10-K. Table 18.1 presents our results by 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) 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 Quarter ended March 31, Net interest income (2) $ 7,627 7,468 4,148 3,748 1,074 943 (549 ) (492 ) 12,300 11,667 Provision (reversal of provision) for credit losses 646 720 (43 ) 363 (4 ) (14 ) 6 17 605 1,086 Noninterest income 4,466 5,146 2,890 3,210 3,119 2,911 (773 ) (739 ) 9,702 10,528 Noninterest expense 7,221 6,836 4,225 3,968 3,206 3,042 (860 ) (818 ) 13,792 13,028 Income (loss) before income tax expense (benefit) 4,226 5,058 2,856 2,627 991 826 (468 ) (430 ) 7,605 8,081 Income tax expense (benefit) 1,127 1,697 746 719 362 314 (178 ) (163 ) 2,057 2,567 Net income (loss) before noncontrolling interests 3,099 3,361 2,110 1,908 629 512 (290 ) (267 ) 5,548 5,514 Less: Net income (loss) from noncontrolling interests 90 65 (5 ) (13 ) 6 — — — 91 52 Net income (loss) (3) $ 3,009 3,296 2,115 1,921 623 512 (290 ) (267 ) 5,457 5,462 Average loans $ 482.7 484.3 466.3 429.8 70.7 64.1 (56.1 ) (51.0 ) 963.6 927.2 Average assets 990.7 947.4 807.8 748.6 221.9 208.1 (89.4 ) (84.2 ) 1,931.0 1,819.9 Average deposits 717.2 683.0 466.0 428.0 195.6 184.5 (79.6 ) (76.1 ) 1,299.2 1,219.4 (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 | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 , 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. March 31, 2017 December 31, 2016 March 31, 2017 December 31, 2016 (in millions, except ratios) Advanced Approach Standardized Approach Advanced Approach Standardized Advanced Approach Standardized Advanced Approach Standardized Regulatory capital: Common equity tier 1 $ 149,860 149,860 148,785 148,785 133,362 133,362 132,225 132,225 Tier 1 172,543 172,543 171,364 171,364 133,362 133,362 132,225 132,225 Total 205,269 215,158 204,425 214,877 147,007 156,150 145,665 155,281 Assets: Risk-weighted $ 1,250,630 1,300,723 1,274,589 1,336,198 1,123,251 1,190,078 1,143,681 1,222,876 Adjusted average (1) 1,901,719 1,901,719 1,914,802 1,914,802 1,705,841 1,705,841 1,714,524 1,714,524 Regulatory capital ratios: Common equity tier 1 capital 11.98 % 11.52 * 11.67 11.13 * 11.87 11.21 * 11.56 10.81 * Tier 1 capital 13.80 13.27 * 13.44 12.82 * 11.87 11.21 * 11.56 10.81 * Total capital 16.41 * 16.54 16.04 * 16.08 13.09 * 13.12 12.74 12.70 * Tier 1 leverage (1) 9.07 9.07 8.95 8.95 7.82 7.82 7.71 7.71 *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 March 31, 2017 and December 31, 2016 . Table 19.2: Minimum Required Regulatory Capital Ratios – Transition Requirements (1) Wells Fargo & Company Wells Fargo Bank, N.A. March 31, 2017 December 31, 2016 March 31, 2017 December 31, 2016 Regulatory capital ratios: Common equity tier 1 capital 6.750 % 5.625 5.750 5.125 Tier 1 capital 8.250 7.125 7.250 6.625 Total capital 10.250 9.125 9.250 8.625 Tier 1 leverage 4.000 4.000 4.000 4.000 (1) At March 31, 2017 , under transition requirements, the CET1, tier 1 and total capital minimum ratio requirements for Wells Fargo & Company include a capital conservation buffer of 1.250% and a global systemically important bank (G-SIB) surcharge of 1.000% . Only the 1.250% capital conservation buffer applies to the Bank at March 31, 2017 . |
Summary of Significant Accoun29
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2017 | |
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 branches, 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, 2016 ( 2016 Form 10-K). There were no material changes to these policies in the first quarter 2017 . 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 2016 Form 10-K. |
Accounting Standards Adopted in 2017 | Accounting Standards Adopted in 2017 In first quarter 2017 , we adopted the following new accounting guidance: • Accounting Standards Update (ASU or Update) 2016-09 – Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting; • ASU 2016-07 - Investments - Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting; • ASU 2016-06 - Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments; and • ASU 2016-05 - Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships. |
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 both March 31, 2017 and March 31, 2016 . |
Subsequent Events | SUBSEQUENT EVENTS We have evaluated the effects of events that have occurred subsequent to March 31, 2017 , and there have been no material events that would require recognition in our first quarter 2017 consolidated financial statements or disclosure in the Notes to the consolidated financial statements. |
Accounting Standards Update 2016-09 [Member] | |
Significant Accounting Policies [Line Items] | |
Accounting Standards Adopted in 2017 | ASU 2016-09 Simplifies the accounting for share-based payment awards issued to employees. We have income tax effects based on changes in our stock price from the grant date to the vesting date of the employee stock compensation. The Update requires these income tax effects to be recognized in the statement of income within income tax expense instead of within additional paid-in capital. In addition, the Update requires changes to the Statement of Cash Flows including the classification between the operating and financing section for tax activity related to employee stock compensation, which we adopted retrospectively. We recorded excess tax benefits and tax deficiencies within income tax expense in the statement of income in first quarter 2017, on a prospective basis. |
Accounting Standards Update 2016-07 [Member] | |
Significant Accounting Policies [Line Items] | |
Accounting Standards Adopted in 2017 | ASU 2016-07 eliminates the requirement for companies to retroactively apply the equity method of accounting for investments when increases in ownership interests or degree of influence result in the adoption of the equity method. Under the guidance, the equity method should be applied prospectively in the period in which the ownership changes occur. We adopted this change in first quarter 2017. The Update did not impact our consolidated financial statements, as the standard is applied on a prospective basis. |
Accounting Standards Update 2016-06 [Member] | |
Significant Accounting Policies [Line Items] | |
Accounting Standards Adopted in 2017 | ASU 2016-06 clarifies the criteria entities should use when evaluating whether embedded contingent put and call options in debt instruments should be separated from the debt instrument and accounted for separately as derivatives. The Update clarifies that companies should not consider whether the event that triggers the ability to exercise put or call options is related to interest rates or credit risk. We adopted this change in first quarter 2017. The Update did not have a material impact on our consolidated financial statements. |
Accounting Standards Update 2016-05 [Member] | |
Significant Accounting Policies [Line Items] | |
Accounting Standards Adopted in 2017 | ASU 2016-05 clarifies that a change in the counterparty to a derivative instrument that has been designated as an accounting hedge does not require the hedging relationship to be dedesignated as long as all other hedge accounting criteria continue to be met. We adopted the guidance in first quarter 2017. The Update did not have a material impact on our consolidated financial statements. |
Accounting Standards Update 2016-15 [Member] | |
Significant Accounting Policies [Line Items] | |
Accounting Standards with Retrospective Application [Policy Text Block] | Accounting Standards with Retrospective Application The following accounting pronouncement has been issued by the FASB but is not yet effective: • ASU 2016-15 – Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. ASU 2016-15 addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice for reporting in the Statement of Cash Flows. The Update is effective for us in first quarter 2018 with retrospective application. We are evaluating the impact the Update will have on our consolidated financial statements. |
Summary of Significant Accoun30
Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Accounting Policies [Abstract] | |
Supplemental Cash Flow Information | SUPPLEMENTAL CASH FLOW INFORMATION Significant noncash activities are presented below. Table 1.1: Supplemental Cash Flow Information Quarter ended March 31, (in millions) 2017 2016 Trading assets retained from securitization of MHFS $ 20,929 9,955 Transfers from loans to MHFS 1,657 1,839 Transfers from available-for-sale to held-to-maturity securities 9,897 — |
Federal Funds Sold, Securitie31
Federal Funds Sold, Securities Purchased under Resale Agreements and Other Short-Term Investments (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 , and December 31, 2016 , were held at Federal Reserve Banks. Table 3.1: Fed Funds Sold and Other Short-Term Investments (in millions) Mar 31, Dec 31, Federal funds sold and securities purchased under resale agreements $ 68,457 58,215 Interest-earning deposits 227,635 200,671 Other short-term investments 12,655 7,152 Total $ 308,747 266,038 |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities, Amortized Cost and Fair Value, by Category | 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 March 31, 2017 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ 24,681 43 (99 ) 24,625 Securities of U.S. states and political subdivisions 52,747 624 (1,310 ) 52,061 Mortgage-backed securities: Federal agencies 159,098 1,042 (3,174 ) 156,966 Residential 7,146 457 (10 ) 7,593 Commercial 6,595 93 (48 ) 6,640 Total mortgage-backed securities 172,839 1,592 (3,232 ) 171,199 Corporate debt securities 10,097 418 (85 ) 10,430 Collateralized loan and other debt obligations (1) 33,686 341 (18 ) 34,009 Other (2) 5,963 139 (21 ) 6,081 Total debt securities 300,013 3,157 (4,765 ) 298,405 Marketable equity securities: Perpetual preferred securities 467 21 (6 ) 482 Other marketable equity securities 208 436 (1 ) 643 Total marketable equity securities 675 457 (7 ) 1,125 Total available-for-sale securities 300,688 3,614 (4,772 ) 299,530 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies 44,697 518 (61 ) 45,154 Securities of U.S. states and political subdivisions 6,331 28 (120 ) 6,239 Federal agency and other mortgage-backed securities (3) 53,778 91 (870 ) 52,999 Collateralized loan obligations 1,011 5 — 1,016 Other (2) 2,213 9 (1 ) 2,221 Total held-to-maturity securities 108,030 651 (1,052 ) 107,629 Total $ 408,718 4,265 (5,824 ) 407,159 December 31, 2016 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ 25,874 54 (109 ) 25,819 Securities of U.S. states and political subdivisions 52,121 551 (1,571 ) 51,101 Mortgage-backed securities: Federal agencies 163,513 1,175 (3,458 ) 161,230 Residential 7,375 449 (8 ) 7,816 Commercial 8,475 101 (74 ) 8,502 Total mortgage-backed securities 179,363 1,725 (3,540 ) 177,548 Corporate debt securities 11,186 381 (110 ) 11,457 Collateralized loan and other debt obligations (1) 34,764 287 (31 ) 35,020 Other (2) 6,139 104 (35 ) 6,208 Total debt securities 309,447 3,102 (5,396 ) 307,153 Marketable equity securities: Perpetual preferred securities 445 35 (11 ) 469 Other marketable equity securities 261 481 — 742 Total marketable equity securities 706 516 (11 ) 1,211 Total available-for-sale securities 310,153 3,618 (5,407 ) 308,364 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies 44,690 466 (77 ) 45,079 Securities of U.S. states and political subdivisions 6,336 17 (144 ) 6,209 Federal agency and other mortgage-backed securities (3) 45,161 100 (804 ) 44,457 Collateralized loan obligations 1,065 6 (1 ) 1,070 Other (2) 2,331 10 (1 ) 2,340 Total held-to-maturity securities 99,583 599 (1,027 ) 99,155 Total $ 409,736 4,217 (6,434 ) 407,519 (1) The available-for-sale portfolio includes collateralized debt obligations (CDOs) with a cost basis and fair value of $875 million and $945 million , respectively, at March 31, 2017 , and $819 million and $847 million , respectively, at December 31, 2016 . (2) The “Other” category of available-for-sale securities largely includes asset-backed securities collateralized by student loans. 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 $1.2 billion each at March 31, 2017 , and $1.3 billion each at December 31, 2016 . 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 both March 31, 2017 and December 31, 2016 . (3) Predominantly consists of federal agency mortgage-backed securities at both March 31, 2017 and December 31, 2016 . |
Investment Securities, Gross Unrealized Losses and Fair Value, 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 March 31, 2017 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ (99 ) 11,090 — — (99 ) 11,090 Securities of U.S. states and political subdivisions (210 ) 14,826 (1,100 ) 16,070 (1,310 ) 30,896 Mortgage-backed securities: Federal agencies (3,066 ) 112,495 (108 ) 3,358 (3,174 ) 115,853 Residential (5 ) 389 (5 ) 240 (10 ) 629 Commercial (30 ) 974 (18 ) 1,084 (48 ) 2,058 Total mortgage-backed securities (3,101 ) 113,858 (131 ) 4,682 (3,232 ) 118,540 Corporate debt securities (7 ) 883 (78 ) 878 (85 ) 1,761 Collateralized loan and other debt obligations (2 ) 1,366 (16 ) 1,399 (18 ) 2,765 Other (6 ) 727 (15 ) 988 (21 ) 1,715 Total debt securities (3,425 ) 142,750 (1,340 ) 24,017 (4,765 ) 166,767 Marketable equity securities: Perpetual preferred securities (1 ) 61 (5 ) 48 (6 ) 109 Other marketable equity securities (1 ) 5 — — (1 ) 5 Total marketable equity securities (2 ) 66 (5 ) 48 (7 ) 114 Total available-for-sale securities (3,427 ) 142,816 (1,345 ) 24,065 (4,772 ) 166,881 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies (61 ) 4,772 — — (61 ) 4,772 Securities of U.S. states and political subdivisions (120 ) 4,497 — — (120 ) 4,497 Federal agency and other mortgage-backed securities (870 ) 48,779 — — (870 ) 48,779 Collateralized loan obligations — — — — — — Other — — (1 ) 178 (1 ) 178 Total held-to-maturity securities (1,051 ) 58,048 (1 ) 178 (1,052 ) 58,226 Total $ (4,478 ) 200,864 (1,346 ) 24,243 (5,824 ) 225,107 December 31, 2016 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ (109 ) 10,816 — — (109 ) 10,816 Securities of U.S. states and political subdivisions (341 ) 17,412 (1,230 ) 16,213 (1,571 ) 33,625 Mortgage-backed securities: Federal agencies (3,338 ) 120,735 (120 ) 3,481 (3,458 ) 124,216 Residential (4 ) 527 (4 ) 245 (8 ) 772 Commercial (43 ) 1,459 (31 ) 1,690 (74 ) 3,149 Total mortgage-backed securities (3,385 ) 122,721 (155 ) 5,416 (3,540 ) 128,137 Corporate debt securities (11 ) 946 (99 ) 1,229 (110 ) 2,175 Collateralized loan and other debt obligations (2 ) 1,899 (29 ) 3,197 (31 ) 5,096 Other (9 ) 971 (26 ) 1,262 (35 ) 2,233 Total debt securities (3,857 ) 154,765 (1,539 ) 27,317 (5,396 ) 182,082 Marketable equity securities: Perpetual preferred securities (3 ) 41 (8 ) 45 (11 ) 86 Other marketable equity securities — — — — — — Total marketable equity securities (3 ) 41 (8 ) 45 (11 ) 86 Total available-for-sale securities (3,860 ) 154,806 (1,547 ) 27,362 (5,407 ) 182,168 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies (77 ) 6,351 — — (77 ) 6,351 Securities of U.S. states and political subdivisions (144 ) 4,871 — — (144 ) 4,871 Federal agency and other mortgage-backed securities (804 ) 40,095 — — (804 ) 40,095 Collateralized loan obligations — — (1 ) 266 (1 ) 266 Other — — (1 ) 633 (1 ) 633 Total held-to-maturity securities (1,025 ) 51,317 (2 ) 899 (1,027 ) 52,216 Total $ (4,885 ) 206,123 (1,549 ) 28,261 (6,434 ) 234,384 |
Investment Securities, Gross Unrealized Losses and Fair Value, 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 $38 million and $5.9 billion , respectively, at March 31, 2017 , and $54 million and $7.0 billion , respectively, at December 31, 2016 . 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 March 31, 2017 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ (99 ) 11,090 — — Securities of U.S. states and political subdivisions (1,262 ) 30,538 (48 ) 358 Mortgage-backed securities: Federal agencies (3,174 ) 115,853 — — Residential (1 ) 105 (9 ) 524 Commercial (8 ) 1,562 (40 ) 496 Total mortgage-backed securities (3,183 ) 117,520 (49 ) 1,020 Corporate debt securities (23 ) 972 (62 ) 789 Collateralized loan and other debt obligations (18 ) 2,765 — — Other (16 ) 1,307 (5 ) 408 Total debt securities (4,601 ) 164,192 (164 ) 2,575 Perpetual preferred securities (5 ) 90 (1 ) 19 Total available-for-sale securities (4,606 ) 164,282 (165 ) 2,594 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies (61 ) 4,772 — — Securities of U.S. states and political subdivisions (120 ) 4,497 — — Federal agency and other mortgage-backed securities (869 ) 48,711 (1 ) 68 Collateralized loan obligations — — — — Other (1 ) 178 — — Total held-to-maturity securities (1,051 ) 58,158 (1 ) 68 Total $ (5,657 ) 222,440 (166 ) 2,662 December 31, 2016 Available-for-sale securities: Securities of U.S. Treasury and federal agencies $ (109 ) 10,816 — — Securities of U.S. states and political subdivisions (1,517 ) 33,271 (54 ) 354 Mortgage-backed securities: Federal agencies (3,458 ) 124,216 — — Residential (1 ) 176 (7 ) 596 Commercial (15 ) 2,585 (59 ) 564 Total mortgage-backed securities (3,474 ) 126,977 (66 ) 1,160 Corporate debt securities (31 ) 1,238 (79 ) 937 Collateralized loan and other debt obligations (31 ) 5,096 — — Other (30 ) 1,842 (5 ) 391 Total debt securities (5,192 ) 179,240 (204 ) 2,842 Perpetual preferred securities (10 ) 68 (1 ) 18 Total available-for-sale securities (5,202 ) 179,308 (205 ) 2,860 Held-to-maturity securities: Securities of U.S. Treasury and federal agencies (77 ) 6,351 — — Securities of U.S. states and political subdivisions (144 ) 4,871 — — Federal agency and other mortgage-backed securities (803 ) 40,078 (1 ) 17 Collateralized loan obligations (1 ) 266 — — Other (1 ) 633 — — Total held-to-maturity securities (1,026 ) 52,199 (1 ) 17 Total $ (6,228 ) 231,507 (206 ) 2,877 |
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 March 31, 2017 Available-for-sale debt securities (1): Fair value: Securities of U.S. Treasury and federal agencies $ 24,625 1.45 % $ 1,322 0.92 % $ 22,288 1.46 % $ 1,015 1.80 % $ — — % Securities of U.S. states and political subdivisions 52,061 5.68 2,590 1.80 9,990 2.86 2,597 4.65 36,884 6.78 Mortgage-backed securities: Federal agencies 156,966 3.11 1 5.16 107 3.07 5,564 3.08 151,294 3.11 Residential 7,593 3.84 — — 26 5.50 23 3.85 7,544 3.84 Commercial 6,640 4.40 — — — — 31 3.13 6,609 4.40 Total mortgage-backed securities 171,199 3.20 1 5.16 133 3.54 5,618 3.08 165,447 3.20 Corporate debt securities 10,430 4.92 1,467 3.70 3,124 5.79 4,696 4.63 1,143 5.35 Collateralized loan and other debt obligations 34,009 2.81 — — 153 1.84 17,841 2.77 16,015 2.86 Other 6,081 2.37 40 3.21 871 2.41 1,170 2.24 4,000 2.39 Total available-for-sale debt securities at fair value $ 298,405 3.48 % $ 5,420 2.11 % $ 36,559 2.25 % $ 32,937 3.19 % $ 223,489 3.76 % December 31, 2016 Available-for-sale debt securities (1): ` Fair value: Securities of U.S. Treasury and federal agencies $ 25,819 1.44 % $ 1,328 0.92 % $ 23,477 1.45 % $ 1,014 1.80 % $ — — % Securities of U.S. states and political subdivisions 51,101 5.65 2,990 1.69 9,299 2.74 2,391 4.71 36,421 6.78 Mortgage-backed securities: Federal agencies 161,230 3.09 — — 128 2.98 5,363 3.16 155,739 3.09 Residential 7,816 3.84 — — 25 5.21 35 4.34 7,756 3.83 Commercial 8,502 4.58 — — — — 30 3.13 8,472 4.59 Total mortgage-backed securities 177,548 3.19 — — 153 3.34 5,428 3.16 171,967 3.19 Corporate debt securities 11,457 4.81 2,043 2.90 3,374 5.89 4,741 4.71 1,299 5.38 Collateralized loan and other debt obligations 35,020 2.70 — — 168 1.34 16,482 2.66 18,370 2.74 Other 6,208 2.18 57 3.06 971 2.35 1,146 2.04 4,034 2.17 Total available-for-sale debt securities at fair value $ 307,153 3.44 % $ 6,418 1.93 % $ 37,442 2.20 % $ 31,202 3.17 % $ 232,091 3.72 % (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 March 31, 2017 Held-to-maturity securities (1): Amortized cost: Securities of U.S. Treasury and federal agencies $ 44,697 2.12 % $ — — % $ 32,311 2.04 % $ 12,386 2.32 % $ — — % Securities of U.S. states and political subdivisions 6,331 6.04 — — 24 8.20 470 6.72 5,837 5.98 Federal agency and other mortgage-backed securities 53,778 3.19 — — — — — — 53,778 3.19 Collateralized loan obligations 1,011 2.66 — — — — 1,011 2.66 — — Other 2,213 2.00 — — 1,565 1.95 648 2.13 — — Total held-to-maturity debt securities at amortized cost $ 108,030 2.88 % $ — — % $ 33,900 2.04 % $ 14,515 2.48 % $ 59,615 3.46 % December 31, 2016 Held-to-maturity securities (1): Amortized cost: Securities of U.S. Treasury and federal agencies $ 44,690 2.12 % $ — — % $ 31,956 2.05 % $ 12,734 2.30 % $ — — % Securities of U.S. states and political subdivisions 6,336 6.04 — — 24 8.20 436 6.76 5,876 5.98 Federal agency and other mortgage-backed securities 45,161 3.23 — — — — — — 45,161 3.23 Collateralized loan obligations 1,065 2.58 — — — — 1,065 2.58 — — Other 2,331 1.83 — — 1,683 1.81 648 1.89 — — Total held-to-maturity debt securities at amortized cost $ 99,583 2.87 % $ — — % $ 33,663 2.04 % $ 14,883 2.43 % $ 51,037 3.55 % (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 March 31, 2017 Held-to-maturity securities: Fair value: Securities of U.S. Treasury and federal agencies $ 45,154 — 32,686 12,468 — Securities of U.S. states and political subdivisions 6,239 — 24 469 5,746 Federal agency and other mortgage-backed securities 52,999 — — — 52,999 Collateralized loan obligations 1,016 — — 1,016 — Other 2,221 — 1,568 653 — Total held-to-maturity debt securities at fair value $ 107,629 — 34,278 14,606 58,745 December 31, 2016 Held-to-maturity securities: Fair value: Securities of U.S. Treasury and federal agencies $ 45,079 — 32,313 12,766 — Securities of U.S. states and political subdivisions 6,209 — 24 430 5,755 Federal agency and other mortgage-backed securities 44,457 — — — 44,457 Collateralized loan obligations 1,070 — — 1,070 — Other 2,340 — 1,688 652 — Total held-to-maturity debt securities at fair value $ 99,155 — 34,025 14,918 50,212 |
Investment Securities and Nonmarketable Equity Investments, 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 March 31, (in millions) 2017 2016 Gross realized gains $ 241 385 Gross realized losses (36 ) (13 ) OTTI write-downs (53 ) (69 ) Net realized gains from available-for-sale securities 152 303 Net realized gains from nonmarketable equity investments 287 185 Net realized gains from debt securities and equity investments $ 439 488 |
Investment Securities and Nonmarketable Equity Investments, 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 first quarter 2017 and 2016 . Table 4.8: OTTI Write-downs Quarter ended March 31, (in millions) 2017 2016 OTTI write-downs included in earnings Debt securities: Securities of U.S. states and political subdivisions $ 8 4 Mortgage-backed securities: Residential 3 12 Commercial 25 1 Corporate debt securities 16 45 Other debt securities — 3 Total debt securities 52 65 Equity securities: Marketable equity securities: Other marketable equity securities 1 4 Total marketable equity securities 1 4 Total investment securities (1) 53 69 Nonmarketable equity investments (1) 76 129 Total OTTI write-downs included in earnings (1) $ 129 198 (1) The quarters ended March 31, 2017 and March 31, 2016 , include $39 million and $124 million , respectively, in OTTI write-downs of oil and gas investments, of which $15 million and $46 million , respectively, related to investment securities and $24 million and $78 million , respectively, related to nonmarketable equity investments. |
Debt Securities Other Than Temporary Impairment Included in Earnings | 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 March 31, (in millions) 2017 2016 OTTI on debt securities Recorded as part of gross realized losses: Credit-related OTTI $ 52 61 Intent-to-sell OTTI — 4 Total recorded as part of gross realized losses 52 65 Changes to OCI for losses (reversal of losses) in non-credit-related OTTI (1): Securities of U.S. states and political subdivisions (5 ) — Residential mortgage-backed securities 3 10 Commercial mortgage-backed securities (7 ) 3 Corporate debt securities — (4 ) Other debt securities — 2 Total changes to OCI for non-credit-related OTTI (9 ) 11 Total OTTI losses recorded on debt securities $ 43 76 (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. |
Rollforward of 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 March 31, (in millions) 2017 2016 Credit loss recognized, beginning of period $ 1,043 1,092 Additions: For securities with initial credit impairments 6 38 For securities with previous credit impairments 46 23 Total additions 52 61 Reductions: For securities sold, matured, or intended/required to be sold (7 ) (6 ) For recoveries of previous credit impairments (1) (2 ) (2 ) Total reductions (9 ) (8 ) Credit loss recognized, end of period $ 1,086 1,145 (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) | 3 Months Ended |
Mar. 31, 2017 | |
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 $4.3 billion and $4.4 billion at March 31, 2017 , and December 31, 2016 , respectively, for unearned income, net deferred loan fees, and unamortized discounts and premiums. Table 5.1: Loans Outstanding (in millions) Mar 31, Dec 31, Commercial: Commercial and industrial $ 329,252 330,840 Real estate mortgage 131,532 132,491 Real estate construction 25,064 23,916 Lease financing 19,156 19,289 Total commercial 505,004 506,536 Consumer: Real estate 1-4 family first mortgage 274,633 275,579 Real estate 1-4 family junior lien mortgage 44,333 46,237 Credit card 34,742 36,700 Automobile 60,408 62,286 Other revolving credit and installment 39,285 40,266 Total consumer 453,401 461,068 Total loans $ 958,405 967,604 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) Mar 31, Dec 31, Commercial foreign loans: Commercial and industrial $ 56,987 55,396 Real estate mortgage 8,206 8,541 Real estate construction 471 375 Lease financing 986 972 Total commercial foreign loans $ 66,650 65,284 |
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 2017 2016 (in millions) Commercial Consumer (1) Total Commercial (2) Consumer (1) Total Quarter ended March 31, Purchases $ 1,159 2 1,161 24,646 — 24,646 Sales (287 ) (62 ) (349 ) (223 ) (272 ) (495 ) Transfers to MHFS/LHFS (479 ) — (479 ) (32 ) (3 ) (35 ) (1) 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. (2) Purchases include loans and capital leases from the 2016 GE Capital business acquisitions. |
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 issued standby and commercial letters of credit and temporary advance arrangements described above. Table 5.4: Unfunded Credit Commitments (in millions) Mar 31, Dec 31, Commercial: Commercial and industrial $ 316,794 319,662 Real estate mortgage 7,448 7,833 Real estate construction 17,794 18,840 Lease financing 11 16 Total commercial 342,047 346,351 Consumer: Real estate 1-4 family first mortgage 33,594 33,498 Real estate 1-4 family junior lien mortgage 41,070 41,431 Credit card 104,630 101,895 Other revolving credit and installment 27,814 28,349 Total consumer 207,108 205,173 Total unfunded credit commitments $ 549,155 551,524 |
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 March 31, (in millions) 2017 2016 Balance, beginning of period $ 12,540 12,512 Provision for credit losses 605 1,086 Interest income on certain impaired loans (1) (48 ) (48 ) Loan charge-offs: Commercial: Commercial and industrial (253 ) (349 ) Real estate mortgage (5 ) (3 ) Real estate construction — — Lease financing (7 ) (4 ) Total commercial (265 ) (356 ) Consumer: Real estate 1-4 family first mortgage (69 ) (137 ) Real estate 1-4 family junior lien mortgage (93 ) (133 ) Credit card (367 ) (314 ) Automobile (255 ) (211 ) Other revolving credit and installment (189 ) (175 ) Total consumer (973 ) (970 ) Total loan charge-offs (1,238 ) (1,326 ) Loan recoveries: Commercial: Commercial and industrial 82 76 Real estate mortgage 30 32 Real estate construction 8 8 Lease financing 2 3 Total commercial 122 119 Consumer: Real estate 1-4 family first mortgage 62 89 Real estate 1-4 family junior lien mortgage 70 59 Credit card 58 52 Automobile 88 84 Other revolving credit and installment 33 37 Total consumer 311 321 Total loan recoveries 433 440 Net loan charge-offs (805 ) (886 ) Other (5 ) 4 Balance, end of period $ 12,287 12,668 Components: Allowance for loan losses $ 11,168 11,621 Allowance for unfunded credit commitments 1,119 1,047 Allowance for credit losses $ 12,287 12,668 Net loan charge-offs (annualized) as a percentage of average total loans 0.34 % 0.38 Allowance for loan losses as a percentage of total loans 1.17 1.23 Allowance for credit losses as a percentage of total loans 1.28 1.34 (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 changes in allowance attributable to the passage of time as interest income. |
Loans and Allowance for Credit Losses, Allowance Activity by Portfolio Segment | 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 2017 2016 (in millions) Commercial Consumer Total Commercial Consumer Total Quarter ended March 31, Balance, beginning of period $ 7,394 5,146 12,540 6,872 5,640 12,512 Provision (reversal of provision) for credit losses (89 ) 694 605 714 372 1,086 Interest income on certain impaired loans (15 ) (33 ) (48 ) (5 ) (43 ) (48 ) Loan charge-offs (265 ) (973 ) (1,238 ) (356 ) (970 ) (1,326 ) Loan recoveries 122 311 433 119 321 440 Net loan charge-offs (143 ) (662 ) (805 ) (237 ) (649 ) (886 ) Other (5 ) — (5 ) 4 — 4 Balance, end of period $ 7,142 5,145 12,287 7,348 5,320 12,668 |
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 March 31, 2017 Collectively evaluated (1) $ 6,281 3,691 9,972 499,565 421,619 921,184 Individually evaluated (2) 859 1,454 2,313 5,076 16,475 21,551 PCI (3) 2 — 2 363 15,307 15,670 Total $ 7,142 5,145 12,287 505,004 453,401 958,405 December 31, 2016 Collectively evaluated (1) $ 6,392 3,553 9,945 500,487 428,009 928,496 Individually evaluated (2) 1,000 1,593 2,593 5,372 17,005 22,377 PCI (3) 2 — 2 677 16,054 16,731 Total $ 7,394 5,146 12,540 506,536 461,068 967,604 (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 $20.4 billion in criticized commercial and industrial loans and $5.7 billion in criticized commercial real estate (CRE) loans at March 31, 2017 , $2.9 billion and $712 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 March 31, 2017 By risk category: Pass $ 308,652 126,215 24,450 17,881 477,198 Criticized 20,423 5,153 592 1,275 27,443 Total commercial loans (excluding PCI) 329,075 131,368 25,042 19,156 504,641 Total commercial PCI loans (carrying value) 177 164 22 — 363 Total commercial loans $ 329,252 131,532 25,064 19,156 505,004 December 31, 2016 By risk category: Pass $ 308,166 126,793 23,408 17,899 476,266 Criticized 22,437 5,315 451 1,390 29,593 Total commercial loans (excluding PCI) 330,603 132,108 23,859 19,289 505,859 Total commercial PCI loans (carrying value) 237 383 57 — 677 Total commercial loans $ 330,840 132,491 23,916 19,289 506,536 |
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 March 31, 2017 By delinquency status: Current-29 days past due (DPD) and still accruing $ 325,001 130,566 24,969 18,946 499,482 30-89 DPD and still accruing 1,088 119 30 114 1,351 90+ DPD and still accruing 88 11 3 — 102 Nonaccrual loans 2,898 672 40 96 3,706 Total commercial loans (excluding PCI) 329,075 131,368 25,042 19,156 504,641 Total commercial PCI loans (carrying value) 177 164 22 — 363 Total commercial loans $ 329,252 131,532 25,064 19,156 505,004 December 31, 2016 By delinquency status: Current-29 DPD and still accruing $ 326,765 131,165 23,776 19,042 500,748 30-89 DPD and still accruing 594 222 40 132 988 90+ DPD and still accruing 28 36 — — 64 Nonaccrual loans 3,216 685 43 115 4,059 Total commercial loans (excluding PCI) 330,603 132,108 23,859 19,289 505,859 Total commercial PCI loans (carrying value) 237 383 57 — 677 Total commercial loans $ 330,840 132,491 23,916 19,289 506,536 |
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 March 31, 2017 By delinquency status: Current-29 DPD $ 240,508 43,422 33,868 59,064 38,885 415,747 30-59 DPD 1,612 286 238 1,007 154 3,297 60-89 DPD 635 137 183 243 95 1,293 90-119 DPD 253 80 160 87 89 669 120-179 DPD 289 99 292 6 33 719 180+ DPD 1,534 275 1 1 29 1,840 Government insured/guaranteed loans (1) 14,529 — — — — 14,529 Total consumer loans (excluding PCI) 259,360 44,299 34,742 60,408 39,285 438,094 Total consumer PCI loans (carrying value) 15,273 34 — — — 15,307 Total consumer loans $ 274,633 44,333 34,742 60,408 39,285 453,401 December 31, 2016 By delinquency status: Current-29 DPD $ 239,061 45,238 35,773 60,572 39,833 420,477 30-59 DPD 1,904 296 275 1,262 177 3,914 60-89 DPD 700 160 200 330 111 1,501 90-119 DPD 307 102 169 116 93 787 120-179 DPD 323 108 279 5 30 745 180+ DPD 1,661 297 4 1 22 1,985 Government insured/guaranteed loans (1) 15,605 — — — — 15,605 Total consumer loans (excluding PCI) 259,561 46,201 36,700 62,286 40,266 445,014 Total consumer PCI loans (carrying value) 16,018 36 — — — 16,054 Total consumer loans $ 275,579 46,237 36,700 62,286 40,266 461,068 (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 $9.2 billion at March 31, 2017 , compared with $10.1 billion at December 31, 2016 . |
Loans and Allowance for Credit Losses, Loans by FICO Score, Consumer | Table 5.11 provides a breakdown of our consumer portfolio by FICO. The March 31, 2017 FICO scores for real estate 1-4 family first and junior lien mortgages reflect a new FICO score version we adopted in first quarter 2017 to monitor and manage those portfolios. In general the impact for us is a shift to higher scores, particularly to the 800+ level, as the new FICO score version utilizes a more refined approach that better distinguishes borrower credit risk. Most of the scored consumer portfolio has an updated FICO of 680 and above, reflecting a strong current borrower credit profile. FICO is not available for certain loan types, or may not be required if we deem it unnecessary due to strong collateral and other borrower attributes. Substantially all loans not requiring a FICO score are securities-based loans originated through retail brokerage, and totaled $7.9 billion at March 31, 2017 , and $8.0 billion at December 31, 2016 . Table 5.11: Consumer Loans by FICO (in millions) Real estate 1-4 family first mortgage (1) Real estate 1-4 family junior lien mortgage (1) Credit card Automobile Other revolving credit and installment (1) Total March 31, 2017 By FICO: < 600 $ 6,260 2,123 3,352 9,906 947 22,588 600-639 4,256 1,501 2,943 6,393 1,009 16,102 640-679 8,081 2,934 5,371 9,763 2,158 28,307 680-719 16,503 5,663 7,080 10,826 3,899 43,971 720-759 28,250 7,106 7,339 8,525 5,407 56,627 760-799 51,813 7,993 5,823 7,945 6,614 80,188 800+ 124,534 16,237 2,792 6,720 8,682 158,965 No FICO available 5,134 742 42 330 2,643 8,891 FICO not required — — — — 7,926 7,926 Government insured/guaranteed loans (2) 14,529 — — — — 14,529 Total consumer loans (excluding PCI) 259,360 44,299 34,742 60,408 39,285 438,094 Total consumer PCI loans (carrying value) 15,273 34 — — — 15,307 Total consumer loans $ 274,633 44,333 34,742 60,408 39,285 453,401 December 31, 2016 By FICO: < 600 $ 6,720 2,591 3,475 9,934 976 23,696 600-639 5,400 1,917 3,109 6,705 1,056 18,187 640-679 10,975 3,747 5,678 10,204 2,333 32,937 680-719 23,300 6,432 7,382 11,233 4,302 52,649 720-759 38,832 9,413 7,632 8,769 5,869 70,515 760-799 103,608 14,929 6,191 8,164 8,348 141,240 800+ 49,508 6,391 2,868 6,856 6,434 72,057 No FICO available 5,613 781 365 421 2,906 10,086 FICO not required — — — — 8,042 8,042 Government insured/guaranteed loans (2) 15,605 — — — — 15,605 Total consumer loans (excluding PCI) 259,561 46,201 36,700 62,286 40,266 445,014 Total consumer PCI loans (carrying value) 16,018 36 — — — 16,054 Total consumer loans $ 275,579 46,237 36,700 62,286 40,266 461,068 (1) The March 31, 2017 , amounts reflect updated FICO score version implemented in first quarter 2017. (2) 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 March 31, 2017 December 31, 2016 (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% $ 121,653 16,024 137,677 121,430 16,464 137,894 60.01-80% 101,956 14,651 116,607 101,726 15,262 116,988 80.01-100% 16,506 8,312 24,818 15,795 8,765 24,560 100.01-120% (1) 2,459 3,339 5,798 2,644 3,589 6,233 > 120% (1) 1,025 1,482 2,507 1,066 1,613 2,679 No LTV/CLTV available 1,232 491 1,723 1,295 508 1,803 Government insured/guaranteed loans (2) 14,529 — 14,529 15,605 — 15,605 Total consumer loans (excluding PCI) 259,360 44,299 303,659 259,561 46,201 305,762 Total consumer PCI loans (carrying value) 15,273 34 15,307 16,018 36 16,054 Total consumer loans $ 274,633 44,333 318,966 275,579 46,237 321,816 (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) Mar 31, Dec 31, Commercial: Commercial and industrial $ 2,898 3,216 Real estate mortgage 672 685 Real estate construction 40 43 Lease financing 96 115 Total commercial 3,706 4,059 Consumer: Real estate 1-4 family first mortgage (1) 4,743 4,962 Real estate 1-4 family junior lien mortgage 1,153 1,206 Automobile 101 106 Other revolving credit and installment 56 51 Total consumer 6,053 6,325 Total nonaccrual loans (excluding PCI) $ 9,759 10,384 (1) Includes MHFS of $145 million and $149 million at March 31, 2017 , and December 31, 2016 , 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) Mar 31, 2017 Dec 31, 2016 Total (excluding PCI): $ 10,525 11,858 Less: FHA insured/guaranteed by the VA (1)(2) 9,585 10,883 Less: Student loans guaranteed under the Federal Family Education Loan Program (FFELP) (3) — 3 Total, not government insured/guaranteed $ 940 972 By segment and class, not government insured/guaranteed: Commercial: Commercial and industrial $ 88 28 Real estate mortgage 11 36 Real estate construction 3 — Total commercial 102 64 Consumer: Real estate 1-4 family first mortgage (2) 149 175 Real estate 1-4 family junior lien mortgage (2) 42 56 Credit card 453 452 Automobile 79 112 Other revolving credit and installment 115 113 Total consumer 838 908 Total, not government insured/guaranteed $ 940 972 (1) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. (2) Includes mortgages held for sale 90 days or more past due and still accruing. (3) Represents loans whose repayments are largely 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 $261 million at March 31, 2017 , and $299 million at December 31, 2016 . For additional information on our impaired loans and allowance for credit losses, see Note 1 (Summary of Significant Accounting Policies) in our 2016 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 March 31, 2017 Commercial: Commercial and industrial $ 4,833 3,508 3,158 571 Real estate mortgage 1,722 1,393 1,393 236 Real estate construction 134 73 73 14 Lease financing 149 102 102 38 Total commercial 6,838 5,076 4,726 859 Consumer: Real estate 1-4 family first mortgage 15,891 13,872 9,075 996 Real estate 1-4 family junior lien mortgage 2,339 2,106 1,628 326 Credit card 308 308 308 107 Automobile 146 80 29 7 Other revolving credit and installment 117 109 99 18 Total consumer (2) 18,801 16,475 11,139 1,454 Total impaired loans (excluding PCI) $ 25,639 21,551 15,865 2,313 December 31, 2016 Commercial: Commercial and industrial $ 5,058 3,742 3,418 675 Real estate mortgage 1,777 1,418 1,396 280 Real estate construction 167 93 93 22 Lease financing 146 119 119 23 Total commercial 7,148 5,372 5,026 1,000 Consumer: Real estate 1-4 family first mortgage 16,438 14,362 9,475 1,117 Real estate 1-4 family junior lien mortgage 2,399 2,156 1,681 350 Credit card 300 300 300 104 Automobile 153 85 31 5 Other revolving credit and installment 109 102 91 17 Total consumer (2) 19,399 17,005 11,578 1,593 Total impaired loans (excluding PCI) $ 26,547 22,377 16,604 2,593 (1) Excludes the unpaid principal balance for loans that have been fully charged off or otherwise have zero recorded investment. (2) Includes the recorded investment of $1.5 billion at both March 31, 2017 and December 31, 2016 , 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. |
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 March 31, 2017 2016 (in millions) Average recorded investment Recognized interest income Average recorded investment Recognized interest income Commercial: Commercial and industrial $ 3,675 33 2,766 19 Real estate mortgage 1,394 27 1,772 32 Real estate construction 84 1 130 2 Lease financing 119 — 75 — Total commercial 5,272 61 4,743 53 Consumer: Real estate 1-4 family first mortgage 14,132 190 16,911 221 Real estate 1-4 family junior lien mortgage 2,131 31 2,382 34 Credit card 302 8 297 9 Automobile 83 3 101 3 Other revolving credit and installment 106 2 82 1 Total consumer 16,754 234 19,773 268 Total impaired loans (excluding PCI) $ 22,026 295 24,516 321 Interest income: Cash basis of accounting $ 78 95 Other (1) 217 226 Total interest income $ 295 321 (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 rate reduction Other concessions (3) Total Charge- offs (4) Weighted average interest rate reduction Recorded investment related to interest rate reduction (5) Quarter ended March 31, 2017 Commercial: Commercial and industrial $ — 6 928 934 65 0.82 % $ 6 Real estate mortgage — 14 181 195 — 1.00 14 Real estate construction — — 3 3 — 2.00 — Lease financing — — 3 3 — — — Total commercial — 20 1,115 1,135 65 0.95 20 Consumer: Real estate 1-4 family first mortgage 74 72 291 437 9 2.60 103 Real estate 1-4 family junior lien mortgage 13 21 23 57 6 2.95 24 Credit card — 57 — 57 — 12.22 57 Automobile 1 3 12 16 7 6.42 3 Other revolving credit and installment — 11 3 14 — 7.29 11 Trial modifications (6) — — (17 ) (17 ) — — — Total consumer 88 164 312 564 22 5.72 198 Total $ 88 184 1,427 1,699 87 5.27 % $ 218 Quarter ended March 31, 2016 Commercial: Commercial and industrial $ 42 78 632 752 106 1.89 % $ 78 Real estate mortgage — 24 159 183 — 1.13 24 Real estate construction — — 44 44 — — — Lease financing — — 4 4 — — — Total commercial 42 102 839 983 106 1.71 102 Consumer: Real estate 1-4 family first mortgage 96 65 450 611 13 2.81 119 Real estate 1-4 family junior lien mortgage 6 29 27 62 10 2.92 34 Credit card — 44 — 44 — 11.94 44 Automobile — 4 15 19 8 6.54 4 Other revolving credit and installment — 8 3 11 1 6.10 8 Trial modifications (6) — — 15 15 — — — Total consumer 102 150 510 762 32 4.94 209 Total $ 144 252 1,349 1,745 138 3.88 % $ 311 (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 $657 million and $348 million , for quarters ended March 31, 2017 and 2016 , 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 loans discharged in bankruptcy, 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 $9 million and $19 million for the quarters ended March 31, 2017 and 2016 , 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 March 31, (in millions) 2017 2016 Commercial: Commercial and industrial $ 62 25 Real estate mortgage 21 20 Real estate construction — 2 Total commercial 83 47 Consumer: Real estate 1-4 family first mortgage 25 31 Real estate 1-4 family junior lien mortgage 4 5 Credit card 15 13 Automobile 3 3 Other revolving credit and installment 1 1 Total consumer 48 53 Total $ 131 100 |
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. Real estate 1-4 family first mortgage PCI loans are predominantly Pick-a-Pay loans. Table 5.19: PCI Loans (in millions) Mar 31, Dec 31, Commercial: Commercial and industrial $ 177 237 Real estate mortgage 164 383 Real estate construction 22 57 Total commercial 363 677 Consumer: Real estate 1-4 family first mortgage 15,273 16,018 Real estate 1-4 family junior lien mortgage 34 36 Total consumer 15,307 16,054 Total PCI loans (carrying value) $ 15,670 16,731 Total PCI loans (unpaid principal balance) $ 22,855 24,136 |
Loans and Allowance for Credit Losses, Purchased Credit Impaired Loans, Accretable Yield | The change in the accretable yield related to PCI loans since the merger with Wachovia is presented in Table 5.20 . Changes during first quarter 2017 reflect an expectation, as a result of our quarterly evaluation of PCI cash flows, that prepayment of modified Pick-a-Pay loans will increase over their estimated weighted-average life and that expected loss has decreased as a result of reduced loan to value ratios and sustained higher housing prices. Table 5.20: Change in Accretable Yield (in millions) Quarter ended March 31, 2017 2009-2016 Balance, beginning of period $ 11,216 10,447 Change in accretable yield due to acquisitions 2 159 Accretion into interest income (1) (357 ) (15,577 ) Accretion into noninterest income due to sales (2) (25 ) (467 ) Reclassification from nonaccretable difference for loans with improving credit-related cash flows 406 10,955 Changes in expected cash flows that do not affect nonaccretable difference (3) (927 ) 5,699 Balance, end of period $ 10,315 11,216 (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 March 31, 2017 By risk category: Pass $ 21 129 14 164 Criticized 156 35 8 199 Total commercial PCI loans $ 177 164 22 363 December 31, 2016 By risk category: Pass $ 92 263 47 402 Criticized 145 120 10 275 Total commercial PCI loans $ 237 383 57 677 |
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 March 31, 2017 By delinquency status: Current-29 DPD and still accruing $ 175 147 14 336 30-89 DPD and still accruing 2 — — 2 90+ DPD and still accruing — 17 8 25 Total commercial PCI loans $ 177 164 22 363 December 31, 2016 By delinquency status: Current-29 DPD and still accruing $ 235 353 48 636 30-89 DPD and still accruing 2 10 — 12 90+ DPD and still accruing — 20 9 29 Total commercial PCI loans $ 237 383 57 677 |
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 March 31, 2017 December 31, 2016 (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 $ 15,851 167 16,018 16,095 171 16,266 30-59 DPD and still accruing 1,276 6 1,282 1,488 7 1,495 60-89 DPD and still accruing 572 2 574 668 2 670 90-119 DPD and still accruing 185 1 186 233 2 235 120-179 DPD and still accruing 209 1 210 238 2 240 180+ DPD and still accruing 1,884 7 1,891 2,081 8 2,089 Total consumer PCI loans (adjusted unpaid principal balance) $ 19,977 184 20,161 20,803 192 20,995 Total consumer PCI loans (carrying value) $ 15,273 34 15,307 16,018 36 16,054 |
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 March 31, 2017 (1) December 31, 2016 (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 $ 5,022 46 5,068 4,292 46 4,338 600-639 2,703 24 2,727 3,001 26 3,027 640-679 3,075 34 3,109 3,972 35 4,007 680-719 2,653 34 2,687 3,170 37 3,207 720-759 1,956 24 1,980 1,767 24 1,791 760-799 952 12 964 962 15 977 800+ 457 7 464 254 4 258 No FICO available 3,159 3 3,162 3,385 5 3,390 Total consumer PCI loans (adjusted unpaid principal balance) $ 19,977 184 20,161 20,803 192 20,995 Total consumer PCI loans (carrying value) $ 15,273 34 15,307 16,018 36 16,054 (1) March 31, 2017 amounts reflect updated FICO score version implemented in first quarter 2017. |
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 March 31, 2017 December 31, 2016 (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% $ 7,710 40 7,750 7,513 38 7,551 60.01-80% 8,490 74 8,564 9,000 76 9,076 80.01-100% 3,063 50 3,113 3,458 54 3,512 100.01-120% (1) 575 15 590 669 18 687 > 120% (1) 137 5 142 161 5 166 No LTV/CLTV available 2 — 2 2 1 3 Total consumer PCI loans (adjusted unpaid principal balance) $ 19,977 184 20,161 20,803 192 20,995 Total consumer PCI loans (carrying value) $ 15,273 34 15,307 16,018 36 16,054 (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) | 3 Months Ended |
Mar. 31, 2017 | |
Other Assets [Abstract] | |
Components of Other Assets | Table 6.1 presents the components of other assets. Table 6.1: Other Assets (in millions) Mar 31, Dec 31, Nonmarketable equity investments: Cost method: Federal bank stock $ 6,185 6,407 Private equity 1,484 1,465 Auction rate securities 453 525 Total cost method 8,122 8,397 Equity method: LIHTC (1) 9,624 9,714 Private equity 3,620 3,635 Tax-advantaged renewable energy 2,013 2,054 New market tax credit and other 277 305 Total equity method 15,534 15,708 Fair value (2) 3,780 3,275 Total nonmarketable equity investments 27,436 27,380 Corporate/bank-owned life insurance 19,368 19,325 Accounts receivable (3) 31,570 31,056 Interest receivable 5,486 5,339 Core deposit intangibles 1,407 1,620 Customer relationship and other amortized intangibles 1,028 1,089 Foreclosed assets: Residential real estate: Government insured/guaranteed (3) 179 197 Non-government insured/guaranteed 345 378 Non-residential real estate 381 403 Operating lease assets 9,837 10,089 Due from customers on acceptances 191 196 Other 10,533 17,469 Total other assets $ 107,761 114,541 (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 the classification of certain government-guaranteed mortgage loans upon foreclosure, see Note 1 (Summary of Significant Accounting Policies) to Financial Statements in our 2016 10-K. |
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 March 31, (in millions) 2017 2016 Net realized gains from nonmarketable equity investments $ 287 185 All other (45 ) (186 ) Total $ 242 (1 ) |
Securitizations and Variable 35
Securitizations and Variable Interest Entities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 Cash $ — 128 — 128 Federal funds sold, securities purchased under resale agreements and other short-term investments — 485 — 485 Trading assets 1,546 126 201 1,873 Investment securities (1) 7,221 — 650 7,871 Loans 6,527 13,056 127 19,710 Mortgage servicing rights 13,704 — — 13,704 Derivative assets 68 1 — 69 Other assets 10,148 361 10 10,519 Total assets 39,214 14,157 988 54,359 Short-term borrowings — — 783 783 Derivative liabilities 57 30 (2) — 87 Accrued expenses and other liabilities 287 103 (2) 2 392 Long-term debt 3,351 3,640 (2) 129 7,120 Total liabilities 3,695 3,773 914 8,382 Noncontrolling interests — 132 — 132 Net assets $ 35,519 10,252 74 45,845 December 31, 2016 Cash $ — 168 — 168 Federal funds sold, securities purchased under resale agreements and other short-term investments — 74 — 74 Trading assets 2,034 130 201 2,365 Investment securities (1) 8,530 — 786 9,316 Loans 6,698 12,589 138 19,425 Mortgage servicing rights 13,386 — — 13,386 Derivative assets 91 1 — 92 Other assets 10,281 452 11 10,744 Total assets 41,020 13,414 1,136 55,570 Short-term borrowings — — 905 905 Derivative liabilities 59 33 (2) — 92 Accrued expenses and other liabilities 306 107 (2) 2 415 Long-term debt 3,598 3,694 (2) 136 7,428 Total liabilities 3,963 3,834 1,043 8,840 Noncontrolling interests — 138 — 138 Net assets $ 37,057 9,442 93 46,592 (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 March 31, 2017 Residential mortgage loan securitizations: Conforming (2) $ 1,176,819 2,539 12,750 — (226 ) 15,063 Other/nonconforming 17,459 824 101 — (2 ) 923 Commercial mortgage securitizations 152,603 3,115 853 62 (34 ) 3,996 Collateralized debt obligations: Debt securities 1,336 — — — (25 ) (25 ) Loans (3) 1,527 1,489 — — — 1,489 Asset-based finance structures 8,039 6,142 — — — 6,142 Tax credit structures 29,808 10,642 — — (3,351 ) 7,291 Collateralized loan obligations 49 10 — — — 10 Investment funds 220 52 — — — 52 Other (4) 1,720 629 — (51 ) — 578 Total $ 1,389,580 25,442 13,704 11 (3,638 ) 35,519 Maximum exposure to loss Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Total exposure Residential mortgage loan securitizations: Conforming $ 2,539 12,750 — 929 16,218 Other/nonconforming 824 101 — 2 927 Commercial mortgage securitizations 3,115 853 72 9,783 13,823 Collateralized debt obligations: Debt securities — — — 25 25 Loans (3) 1,489 — — — 1,489 Asset-based finance structures 6,142 — — 71 6,213 Tax credit structures 10,642 — — 941 11,583 Collateralized loan obligations 10 — — — 10 Investment funds 52 — — — 52 Other (4) 629 — 89 — 718 Total $ 25,442 13,704 161 11,751 51,058 (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, 2016 Residential mortgage loan securitizations: Conforming (2) $ 1,166,296 3,026 12,434 — (232 ) 15,228 Other/nonconforming 18,805 873 109 — (2 ) 980 Commercial mortgage securitizations 166,596 4,258 843 87 (35 ) 5,153 Collateralized debt obligations: Debt securities 1,472 — — — (25 ) (25 ) Loans (3) 1,545 1,507 — — — 1,507 Asset-based finance structures 9,152 6,522 — — — 6,522 Tax credit structures 29,713 10,669 — — (3,609 ) 7,060 Collateralized loan obligations 78 10 — — — 10 Investment funds 214 48 — — — 48 Other (4) 1,733 630 — (56 ) — 574 Total $ 1,395,604 27,543 13,386 31 (3,903 ) 37,057 Maximum exposure to loss Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Total exposure Residential mortgage loan securitizations: Conforming $ 3,026 12,434 — 979 16,439 Other/nonconforming 873 109 — 2 984 Commercial mortgage securitizations 4,258 843 94 9,566 14,761 Collateralized debt obligations: Debt securities — — — 25 25 Loans (3) 1,507 — — — 1,507 Asset-based finance structures 6,522 — — 72 6,594 Tax credit structures 10,669 — — 1,104 11,773 Collateralized loan obligations 10 — — — 10 Investment funds 48 — — — 48 Other (4) 630 — 93 — 723 Total $ 27,543 13,386 187 11,748 52,864 (1) Includes total equity interests of $10.1 billion and $10.3 billion at March 31, 2017 , and December 31, 2016 , 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 $888 million and $1.2 billion at March 31, 2017 , and December 31, 2016 , 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 in senior tranches from a diversified pool of U.S. asset securitizations, of which all are current and 100% were rated as investment grade by the primary rating agencies at both March 31, 2017 , and December 31, 2016 . 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 2017 2016 (in millions) Mortgage loans Other financial assets Mortgage loans Other financial assets Quarter ended March 31, Proceeds from securitizations and whole loan sales $ 58,257 21 45,016 50 Fees from servicing rights retained 854 — 881 — Cash flows from other interests held (1) 834 — 407 1 Repurchases of assets/loss reimbursements (2): Non-agency securitizations and whole loan transactions 2 — 3 — Agency securitizations (3) 23 — 47 — Servicing advances, net of repayments (142 ) — (68 ) — (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. First quarter 2017 and 2016 exclude $ 2.3 billion and $2.9 billion , respectively, in delinquent insured/guaranteed loans that we service and have exercised our option to purchase out of GNMA pools. These loans are predominantly insured by the FHA or guaranteed by the VA. |
Residential Mortgage Servicing Rights | Table 7.4 presents the key weighted-average assumptions we used to measure residential mortgage servicing rights at the date of securitization. Table 7.4: Residential Mortgage Servicing Rights Residential mortgage servicing rights 2017 2016 Quarter ended March 31, Prepayment speed (1) 10.3 % 13.0 Discount rate 6.8 6.8 Cost to service ($ per loan) (2) $ 134 146 (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 March 31, 2017 $ 13,208 26 — 346 545 Expected weighted-average life (in years) 6.4 3.9 0.0 4.5 5.5 Key economic assumptions: Prepayment speed assumption (3) 10.2 % 17.2 — Decrease in fair value from: 10% adverse change $ 570 1 — 25% adverse change 1,353 2 — Discount rate assumption 6.9 % 13.6 — 4.3 2.9 Decrease in fair value from: 100 basis point increase $ 658 1 — 12 24 200 basis point increase 1,257 1 — 23 47 Cost to service assumption ($ per loan) 150 Decrease in fair value from: 10% adverse change 498 25% adverse change 1,246 Credit loss assumption — % 3.4 — Decrease in fair value from: 10% higher losses $ — — — 25% higher losses — — — Fair value of interests held at December 31, 2016 $ 12,959 28 1 249 552 Expected weighted-average life (in years) 6.3 3.9 8.3 3.1 5.1 Key economic assumptions: Prepayment speed assumption (3) 10.3 % 17.4 13.5 Decrease in fair value from: 10% adverse change $ 583 1 — 25% adverse change 1,385 2 — Discount rate assumption 6.8 % 13.3 10.7 5.2 2.7 Decrease in fair value from: 100 basis point increase $ 649 1 — 7 23 200 basis point increase 1,239 1 — 12 45 Cost to service assumption ($ per loan) 155 Decrease in fair value from: 10% adverse change 515 25% adverse change 1,282 Credit loss assumption 3.0 % 4.7 — Decrease in fair value from: 10% higher losses $ — — — 25% higher losses — — — (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) Quarter ended Mar 31, (in millions) Mar 31, 2017 Dec 31, 2016 Mar 31, 2017 Dec 31, 2016 2017 2016 Commercial: Real estate mortgage $ 100,695 106,745 3,076 3,325 295 83 Total commercial 100,695 106,745 3,076 3,325 295 83 Consumer: Real estate 1-4 family first mortgage 1,162,112 1,160,191 15,202 16,453 200 287 Total consumer 1,162,112 1,160,191 15,202 16,453 200 287 Total off-balance sheet sold or securitized loans (2) $ 1,262,807 1,266,936 18,278 19,778 495 370 (1) Includes $1.5 billion and $1.7 billion of commercial foreclosed assets and $1.6 billion and $1.8 billion of consumer foreclosed assets at March 31, 2017 , and December 31, 2016 , respectively. (2) At March 31, 2017 , and December 31, 2016 , the table includes total loans of $1.2 trillion at both dates, delinquent loans of $9.5 billion and $9.8 billion , and foreclosed assets of $1.2 billion and $1.3 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 March 31, 2017 Secured borrowings: Municipal tender option bond securitizations $ 1,328 861 (785 ) — 76 Residential mortgage securitizations 131 127 (129 ) — (2 ) Total secured borrowings 1,459 988 (914 ) — 74 Consolidated VIEs: Commercial and industrial loans and leases 9,504 9,306 (2,812 ) (12 ) 6,482 Nonconforming residential mortgage loan securitizations 3,189 2,812 (950 ) — 1,862 Commercial real estate loans 1,747 1,747 — — 1,747 Structured asset finance 22 11 (8 ) — 3 Investment funds 147 147 (2 ) (69 ) 76 Other 157 134 (1 ) (51 ) 82 Total consolidated VIEs 14,766 14,157 (3,773 ) (132 ) 10,252 Total secured borrowings and consolidated VIEs $ 16,225 15,145 (4,687 ) (132 ) 10,326 December 31, 2016 Secured borrowings: Municipal tender option bond securitizations $ 1,473 998 (907 ) — 91 Residential mortgage securitizations 139 138 (136 ) — 2 Total secured borrowings 1,612 1,136 (1,043 ) — 93 Consolidated VIEs: Commercial and industrial loans and leases 8,821 8,623 (2,819 ) (14 ) 5,790 Nonconforming residential mortgage loan securitizations 3,349 2,974 (1,003 ) — 1,971 Commercial real estate loans 1,516 1,516 — — 1,516 Structured asset finance 23 13 (9 ) — 4 Investment funds 142 142 (2 ) (67 ) 73 Other 166 146 (1 ) (57 ) 88 Total consolidated VIEs 14,017 13,414 (3,834 ) (138 ) 9,442 Total secured borrowings and consolidated VIEs $ 15,629 14,550 (4,877 ) (138 ) 9,535 |
Mortgage Banking Activities (Ta
Mortgage Banking Activities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, (in millions) 2017 2016 Fair value, beginning of period $ 12,959 12,415 Servicing from securitizations or asset transfers (1) 583 366 Sales and other (2) (47 ) — Net additions 536 366 Changes in fair value: Due to changes in valuation model inputs or assumptions: Mortgage interest rates (3) 152 (1,084 ) Servicing and foreclosure costs (4) 27 27 Prepayment estimates and other (5) (5 ) 100 Net changes in valuation model inputs or assumptions 174 (957 ) Changes due to collection/realization of expected cash flows over time (461 ) (491 ) Total changes in fair value (287 ) (1,448 ) Fair value, end of period $ 13,208 11,333 (1) Includes impacts associated with exercising our right to repurchase delinquent loans from GNMA loan securitization pools. (2) Includes sales and transfers of MSRs, which can result in an increase of total reported MSRs if the sales or transfers are related to nonperforming loan portfolios. (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. |
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 March 31, (in millions) 2017 2016 Balance, beginning of period $ 1,406 1,308 Purchases 18 21 Servicing from securitizations or asset transfers 45 97 Amortization (67 ) (67 ) Balance, end of period (1) $ 1,402 1,359 Fair value of amortized MSRs: Beginning of period $ 1,956 1,680 End of period 2,051 1,725 (1) Commercial amortized MSRs are evaluated for impairment purposes by the following risk strata: agency (GSEs) for multi-family properties 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) Mar 31, 2017 Dec 31, 2016 Residential mortgage servicing: Serviced for others $ 1,204 1,205 Owned loans serviced 335 347 Subserviced for others 4 8 Total residential servicing 1,543 1,560 Commercial mortgage servicing: Serviced for others 474 479 Owned loans serviced 132 132 Subserviced for others 7 8 Total commercial servicing 613 619 Total managed servicing portfolio $ 2,156 2,179 Total serviced for others $ 1,678 1,684 Ratio of MSRs to related loans serviced for others 0.87 % 0.85 |
Mortgage Banking Noninterest Income | Table 8.4 presents the components of mortgage banking noninterest income. Table 8.4: Mortgage Banking Noninterest Income Quarter ended March 31, (in millions) 2017 2016 Servicing income, net: Servicing fees: Contractually specified servicing fees $ 907 954 Late charges 48 48 Ancillary fees 50 61 Unreimbursed direct servicing costs (1) (123 ) (153 ) Net servicing fees 882 910 Changes in fair value of MSRs carried at fair value: Due to changes in valuation model inputs or assumptions (2) (A) 174 (957 ) Changes due to collection/realization of expected cash flows over time (461 ) (491 ) Total changes in fair value of MSRs carried at fair value (287 ) (1,448 ) Amortization (67 ) (67 ) Net derivative gains (losses) from economic hedges (3) (B) (72 ) 1,455 Total servicing income, net 456 850 Net gains on mortgage loan origination/sales activities 772 748 Total mortgage banking noninterest income $ 1,228 1,598 Market-related valuation changes to MSRs, net of hedge results (2)(3) (A)+(B) $ 102 498 (1) Includes costs associated with foreclosures, unreimbursed interest advances to investors, and other interest costs. (2) Refer to the analysis of changes in fair value MSRs presented in Table 8.1 in this Note for more detail. (3) 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 adjustments to the repurchase liability are recorded in 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 $155 million at March 31, 2017 , 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 March 31, (in millions) 2017 2016 Balance, beginning of period $ 229 378 Provision for repurchase losses: Loan sales 8 7 Change in estimate (1) (8 ) (19 ) Net additions (reductions) — (12 ) Losses (7 ) (11 ) Balance, end of period $ 222 355 (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) | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 December 31, 2016 (in millions) Gross carrying value Accumulated amortization Net carrying value Gross carrying value Accumulated amortization Net carrying value Amortized intangible assets (1): MSRs (2) $ 3,658 (2,256 ) 1,402 3,595 (2,189 ) 1,406 Core deposit intangibles 12,834 (11,427 ) 1,407 12,834 (11,214 ) 1,620 Customer relationship and other intangibles 3,945 (2,917 ) 1,028 3,928 (2,839 ) 1,089 Total amortized intangible assets $ 20,437 (16,600 ) 3,837 20,357 (16,242 ) 4,115 Unamortized intangible assets: MSRs (carried at fair value) (2) $ 13,208 12,959 Goodwill 26,666 26,693 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 March 31, 2017 . 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 (1) Total Three months ended March 31, 2017 (actual) $ 67 213 79 359 Estimate for the remainder of 2017 $ 190 638 230 1,058 Estimate for year ended December 31, 2018 218 769 300 1,287 2019 194 108 302 2020 178 89 267 2021 153 76 229 2022 134 63 197 (1) The three months ended March 31, 2017 balance includes $3 million for lease intangible amortization. |
Allocation of Goodwill to Operating Segments | Table 9.3 shows the allocation of goodwill to our reportable operating segments. Table 9.3: Goodwill (in millions) Community Banking Wholesale Banking Wealth and Investment Management Consolidated Company December 31, 2015 $ 16,849 7,475 1,205 25,529 Reduction in goodwill related to divested businesses and other — (58 ) — (58 ) Goodwill from business combinations — 1,532 — 1,532 March 31, 2016 $ 16,849 8,949 1,205 27,003 December 31, 2016 $ 16,849 8,585 1,259 26,693 Reduction in goodwill related to divested businesses and other — (27 ) — (27 ) March 31, 2017 $ 16,849 8,558 1,259 26,666 |
Guarantees, Pledged Assets an38
Guarantees, Pledged Assets and Collateral (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Guarantees [Abstract] | |
Guarantees - Carrying Value and Maximum Exposure to Loss | 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 of obligation (asset) 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 March 31, 2017 Standby letters of credit (1) $ 39 15,818 8,319 3,288 661 28,086 9,594 Securities lending and other indemnifications (2) — — — 1 793 794 2 Written put options (3) (129 ) 12,708 10,690 4,354 1,438 29,190 17,870 Loans and MHFS sold with recourse (4) 54 213 533 980 8,739 10,465 7,425 Factoring guarantees (5) — 766 — — — 766 766 Other guarantees 4 13 20 17 4,507 4,557 5 Total guarantees $ (32 ) 29,518 19,562 8,640 16,138 73,858 35,662 December 31, 2016 Standby letters of credit (1) $ 38 16,050 8,727 3,194 658 28,629 9,898 Securities lending and other indemnifications (2) — — — 1 1,166 1,167 2 Written put options (3) 37 10,427 10,805 4,573 1,216 27,021 15,915 Loans and MHFS sold with recourse (4) 55 84 637 947 8,592 10,260 7,228 Factoring guarantees (5) — 1,109 — — — 1,109 1,109 Other guarantees 6 19 21 17 3,580 3,637 15 Total guarantees $ 136 27,689 20,190 8,732 15,212 71,823 34,167 (1) Total maximum exposure to loss includes direct pay letters of credit (DPLCs) of $8.8 billion and $9.2 billion at March 31, 2017 , and December 31, 2016 , 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 $75 million and $175 million with related collateral of $718 million and $991 million at March 31, 2017 , and December 31, 2016 , respectively. Estimated maximum exposure to loss was $793 million at March 31, 2017 and $1.2 billion at December 31, 2016 . (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 of loans associated with these agreements in the first quarter 2017 , and $1 million in the same period of 2016 . (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. |
Pledged Assets | Table 10.2 provides the total carrying amount of pledged assets by asset type and pledged off-balance sheet securities for securities financings. The table excludes pledged consolidated VIE assets of $14.2 billion and $13.4 billion at March 31, 2017 , and December 31, 2016 , respectively, which can only be used to settle the liabilities of those entities. The table also excludes $1.0 billion and $1.1 billion in assets pledged in transactions with VIE's accounted for as secured borrowings at March 31, 2017 , and December 31, 2016 , 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) Mar 31, Dec 31, Trading assets and other (1) $ 93,849 84,603 Investment securities (2) 78,163 90,946 Mortgages held for sale and loans (3) 506,776 516,112 Total pledged assets $ 678,788 691,661 (1) Consists of trading assets of $31.1 billion and $33.2 billion at March 31, 2017 , and December 31, 2016 , respectively and off-balance sheet securities of $62.7 billion and $51.4 billion as of the same dates, respectively, that are pledged as collateral for repurchase agreements and other securities financings. Total trading assets and other includes $93.4 billion and $84.2 billion at March 31, 2017 , and December 31, 2016 , respectively that permit the secured parties to sell or repledge the collateral. (2) Includes carrying value of $4.8 billion and $6.2 billion (fair value of $4.7 billion and $ 6.2 billion ) in collateral for repurchase agreements at March 31, 2017 , and December 31, 2016 , respectively, which are pledged under agreements that do not permit the secured parties to sell or repledge the collateral. Also includes $101 million and $617 million in collateral pledged under repurchase agreements at March 31, 2017 , and December 31, 2016 , 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 $9.7 billion and $15.8 billion at March 31, 2017 , and December 31, 2016 , respectively. Substantially all of the total mortgages held for sale and loans are pledged under agreements that do not permit the secured parties to sell or repledge the collateral. Amounts exclude $888 million and $1.2 billion at March 31, 2017 , and December 31, 2016 , respectively, of pledged loans recorded on our balance sheet representing certain delinquent loans that are eligible for repurchase from GNMA loan securitizations. |
Offsetting - Resale and Repurchase 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 reported 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) Mar 31, Dec 31, Assets: Resale and securities borrowing agreements Gross amounts recognized $ 110,061 91,123 Gross amounts offset in consolidated balance sheet (1) (20,529 ) (11,680 ) Net amounts in consolidated balance sheet (2) 89,532 79,443 Collateral not recognized in consolidated balance sheet (3) (88,755 ) (78,837 ) Net amount (4) $ 777 606 Liabilities: Repurchase and securities lending agreements Gross amounts recognized (5) $ 96,273 89,111 Gross amounts offset in consolidated balance sheet (1) (20,529 ) (11,680 ) Net amounts in consolidated balance sheet (6) 75,744 77,431 Collateral pledged but not netted in consolidated balance sheet (7) (75,505 ) (77,184 ) Net amount (8) $ 239 247 (1) Represents recognized amount of resale and repurchase agreements with counterparties subject to enforceable MRAs that have been offset in the consolidated balance sheet. (2) At March 31, 2017 , and December 31, 2016 , includes $68.3 billion and $58.1 billion , respectively, classified on our consolidated balance sheet in federal funds sold, securities purchased under resale agreements and other short-term investments and $21.2 billion and $21.3 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 March 31, 2017 , and December 31, 2016 , we have received total collateral with a fair value of $120.8 billion and $102.3 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 $61.5 billion at March 31, 2017 , and $50.0 billion at December 31, 2016 . (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 March 31, 2017 , and December 31, 2016 , we have pledged total collateral with a fair value of $98.6 billion and $91.4 billion , respectively, of which, the counterparty does not have the right to sell or repledge $5.1 billion as of March 31, 2017 and $6.6 billion as of December 31, 2016 . (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. |
Underlying Collateral Types of Gross Obligations and Contractual Maturities of Gross Obligations | 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) Mar 31, Dec 31, Repurchase agreements: Securities of U.S. Treasury and federal agencies $ 44,376 34,335 Securities of U.S. States and political subdivisions 106 81 Federal agency mortgage-backed securities 28,726 32,669 Non-agency mortgage-backed securities 1,800 2,167 Corporate debt securities 7,481 6,829 Asset-backed securities 2,370 3,010 Equity securities 1,530 1,309 Other 1,151 1,704 Total repurchases 87,540 82,104 Securities lending: Securities of U.S. Treasury and federal agencies 130 152 Federal agency mortgage-backed securities 240 104 Non-agency mortgage-backed securities — 1 Corporate debt securities 556 653 Equity securities (1) 7,807 6,097 Total securities lending 8,733 7,007 Total repurchases and securities lending $ 96,273 89,111 (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 March 31, 2017 Repurchase agreements $ 64,530 12,321 5,723 4,966 87,540 Securities lending 7,054 432 1,247 — 8,733 Total repurchases and securities lending (1) $ 71,584 12,753 6,970 4,966 96,273 December 31, 2016 Repurchase agreements $ 60,516 9,598 6,762 5,228 82,104 Securities lending 5,565 167 1,275 — 7,007 Total repurchases and securities lending (1) $ 66,081 9,765 8,037 5,228 89,111 (1) Securities lending is executed under agreements that allow either party to terminate the transaction without notice, while repurchase agreements have a term structure to them that technically matures at a point in time. The overnight/continuous repurchase agreements require election of both parties to roll the trade rather than the election to terminate the arrangement as in securities lending. |
Derivatives (Tables)
Derivatives (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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. Table 12.1: Notional or Contractual Amounts and Fair Values of Derivatives March 31, 2017 December 31, 2016 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) $ 243,374 5,910 2,876 235,222 6,587 2,710 Foreign exchange contracts (1) 27,692 540 2,556 25,861 673 2,779 Total derivatives designated as qualifying hedging instruments 6,450 5,432 7,260 5,489 Derivatives not designated as hedging instruments Economic hedges: Interest rate contracts (2) 222,692 547 548 228,051 1,098 1,441 Equity contracts 9,036 586 98 7,964 545 83 Foreign exchange contracts 17,308 130 142 20,435 626 165 Credit contracts – protection purchased 161 85 — 482 102 — Subtotal 1,348 788 2,371 1,689 Customer accommodation trading and other derivatives: Interest rate contracts 7,231,404 57,030 60,008 6,018,370 57,583 61,058 Commodity contracts 63,882 1,738 1,348 65,532 3,057 2,551 Equity contracts 174,984 5,670 6,712 151,675 4,813 6,029 Foreign exchange contracts 325,923 7,048 6,930 318,999 9,595 9,798 Credit contracts – protection sold 10,601 142 300 10,483 85 389 Credit contracts – protection purchased 19,652 296 184 19,964 365 138 Other contracts 977 — 36 961 — 47 Subtotal 71,924 75,518 75,498 80,010 Total derivatives not designated as hedging instruments 73,272 76,306 77,869 81,699 Total derivatives before netting 79,722 81,738 85,129 87,188 Netting (3) (67,158 ) (69,277 ) (70,631 ) (72,696 ) Total $ 12,564 12,461 14,498 14,492 (1) Notional amounts presented exclude $ 1.9 billion of interest rate contracts at both March 31, 2017 , and December 31, 2016 , for certain derivatives that are combined for designation as a hedge on a single instrument. The notional amount for foreign exchange contracts at March 31, 2017 , and December 31, 2016 , excludes $9.8 billion and $9.6 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 Values 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 and 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 $70.5 billion and $75.5 billion of gross derivative assets and liabilities, respectively, at March 31, 2017 , and $74.4 billion and $78.4 billion , respectively, at December 31, 2016 , 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 $9.2 billion and $6.2 billion , respectively, at March 31, 2017 , and $10.7 billion and $8.7 billion , respectively, at December 31, 2016 , 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 netting 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. We do not net non-cash collateral that we receive and pledge on the balance sheet. 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 Values of Derivative Assets and Liabilities (in millions) Gross amounts recognized Gross amounts offset in consolidated balance sheet (1) Net amounts in consolidated balance sheet Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) (2) Net amounts Percent exchanged in over-the-counter market (3) March 31, 2017 Derivative assets Interest rate contracts $ 63,487 (56,813 ) 6,674 (355 ) 6,319 31 % Commodity contracts 1,738 (734 ) 1,004 (6 ) 998 87 Equity contracts 6,256 (3,123 ) 3,133 (328 ) 2,805 71 Foreign exchange contracts 7,718 (6,142 ) 1,576 (22 ) 1,554 96 Credit contracts – protection sold 142 (54 ) 88 — 88 19 Credit contracts – protection purchased 381 (292 ) 89 (1 ) 88 99 Total derivative assets $ 79,722 (67,158 ) 12,564 (712 ) 11,852 Derivative liabilities Interest rate contracts $ 63,432 (58,885 ) 4,547 (2,038 ) 2,509 27 % Commodity contracts 1,348 (378 ) 970 (33 ) 937 83 Equity contracts 6,810 (2,939 ) 3,871 (451 ) 3,420 83 Foreign exchange contracts 9,628 (6,813 ) 2,815 (783 ) 2,032 99 Credit contracts – protection sold 300 (252 ) 48 (40 ) 8 96 Credit contracts – protection purchased 184 (10 ) 174 (33 ) 141 14 Other contracts 36 — 36 — 36 100 Total derivative liabilities $ 81,738 (69,277 ) 12,461 (3,378 ) 9,083 December 31, 2016 Derivative assets Interest rate contracts $ 65,268 (59,880 ) 5,388 (987 ) 4,401 34 % Commodity contracts 3,057 (707 ) 2,350 (30 ) 2,320 74 Equity contracts 5,358 (3,018 ) 2,340 (365 ) 1,975 75 Foreign exchange contracts 10,894 (6,663 ) 4,231 (362 ) 3,869 97 Credit contracts – protection sold 85 (48 ) 37 — 37 61 Credit contracts – protection purchased 467 (315 ) 152 (1 ) 151 98 Total derivative assets $ 85,129 (70,631 ) 14,498 (1,745 ) 12,753 Derivative liabilities Interest rate contracts $ 65,209 (58,956 ) 6,253 (3,129 ) 3,124 30 % Commodity contracts 2,551 (402 ) 2,149 (37 ) 2,112 38 Equity contracts 6,112 (2,433 ) 3,679 (331 ) 3,348 85 Foreign exchange contracts 12,742 (10,572 ) 2,170 (251 ) 1,919 100 Credit contracts – protection sold 389 (295 ) 94 (44 ) 50 98 Credit contracts – protection purchased 138 (38 ) 100 (2 ) 98 50 Other contracts 47 — 47 — 47 100 Total derivative liabilities $ 87,188 (72,696 ) 14,492 (3,794 ) 10,698 (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 $288 million and $348 million related to derivative assets and $99 million and $114 million related to derivative liabilities at March 31, 2017 , and December 31, 2016 , respectively. Cash collateral totaled $3.7 billion and $6.0 billion , netted against derivative assets and liabilities, respectively, at March 31, 2017 , and $4.8 billion and $7.1 billion , respectively, at December 31, 2016 . (2) 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. (3) 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. 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 March 31, 2017 Net interest income (expense) recognized on derivatives (1) $ (131 ) (2 ) 427 4 (33 ) 265 Gains (losses) recorded in noninterest income Recognized on derivatives 126 (1 ) (564 ) (42 ) 157 (324 ) Recognized on hedged item (141 ) — 540 44 (311 ) 132 Net recognized on fair value hedges (ineffective portion) $ (15 ) (1 ) (24 ) 2 (154 ) (192 ) Quarter ended March 31, 2016 Net interest income (expense) recognized on derivatives (1) $ (181 ) (2 ) 482 — 16 315 Gains (losses) recorded in noninterest income Recognized on derivatives (1,683 ) (37 ) 3,103 (66 ) 1,618 2,935 Recognized on hedged item 1,691 33 (2,807 ) 59 (1,402 ) (2,426 ) Net recognized on fair value hedges (ineffective portion) $ 8 (4 ) 296 (7 ) 216 509 (1) Includes $(1) million and $(4) million , respectively, for the quarters ended March 31, 2017 and 2016 , of the time value component recognized as net interest income (expense) on forward derivatives hedging foreign currency 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 March 31, (in millions) 2017 2016 Gains (losses) (pre tax) recognized in OCI on derivatives (133 ) 1,999 Gains (pre tax) reclassified from cumulative OCI into net income (1) 202 256 Gains (losses) (pre tax) recognized in noninterest income for hedge ineffectiveness (2) (3 ) 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 March 31, (in millions) 2017 2016 Net gains (losses) recognized on economic hedges derivatives: Interest rate contracts Recognized in noninterest income: Mortgage banking (1) (9 ) 865 Other (2) 6 (135 ) Equity contracts (3) (481 ) 83 Foreign exchange contracts (2) (93 ) (166 ) Credit contracts (2) 4 — Subtotal (4) (573 ) 647 Net gains (losses) recognized on customer accommodation trading and other derivatives: Interest rate contracts Recognized in noninterest income: Mortgage banking (5) 193 465 Other (6) 45 (450 ) Commodity contracts (6) 60 53 Equity contracts (6) (1,109 ) 20 Foreign exchange contracts (6) 185 222 Credit contracts (6) (15 ) (16 ) Other (2) 12 (21 ) Subtotal (629 ) 273 Net gains (losses) recognized related to derivatives not designated as hedging instruments (1,202 ) 920 (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) Includes hedging gains (losses) of $2 million and $(131) million for first quarter 2017 , and 2016 , respectively, which partially offset hedge accounting ineffectiveness. (5) Reflected in mortgage banking noninterest income including gains (losses) on interest rate lock commitments and net gains from trading activities in noninterest income. (6) 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 March 31, 2017 Credit default swaps on: Corporate bonds $ 15 3,306 1,645 2,577 729 1,024 2017 - 2026 Structured products 141 306 271 245 61 209 2020 - 2047 Credit protection on: Default swap index — 3,043 665 241 2,802 4,168 2017 - 2027 Commercial mortgage-backed securities index 126 499 — 461 38 66 2047 - 2058 Asset-backed securities index 17 44 — 40 4 5 2045 - 2046 Other 1 3,403 3,403 — 3,403 10,777 2017 - 2028 Total credit derivatives $ 300 10,601 5,984 3,564 7,037 16,249 December 31, 2016 Credit default swaps on: Corporate bonds $ 22 4,324 1,704 3,060 1,264 1,804 2017 - 2026 Structured products 193 405 333 295 110 79 2020 - 2047 Credit protection on: Default swap index — 1,515 257 139 1,376 3,668 2017 - 2021 Commercial mortgage-backed securities index 156 627 — 584 43 71 2047 - 2058 Asset-backed securities index 17 45 — 40 5 187 2045 - 2046 Other 1 3,567 3,568 — 3,567 10,519 2017 - 2047 Total credit derivatives $ 389 10,483 5,862 4,118 6,365 16,328 |
Fair Values of Assets and Lia40
Fair Values of Assets and Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 Trading assets $ — — — 648 55 — Available-for-sale securities: Securities of U.S. Treasury and federal agencies — — — 21,672 2,953 — Securities of U.S. states and political subdivisions — — — — 50,701 214 Mortgage-backed securities — 69 — — 170,540 89 Other debt securities (1) — 777 861 — 46,797 250 Total debt securities — 846 861 21,672 270,991 553 Total marketable equity securities — — — — 293 — Total available-for-sale securities — 846 861 21,672 271,284 553 Derivatives assets — — — 25 7 — Derivatives liabilities — — — (21 ) (2 ) — Other liabilities (2) — — — — — — December 31, 2016 Trading assets $ — — — 899 60 — Available-for-sale securities: Securities of U.S. Treasury and federal agencies — — — 22,870 2,949 — Securities of U.S. states and political subdivisions — — — — 49,837 208 Mortgage-backed securities — 171 — — 176,923 92 Other debt securities (1) — 450 968 — 49,162 54 Total debt securities — 621 968 22,870 278,871 354 Total marketable equity securities — — — — 358 — Total available-for-sale securities — 621 968 22,870 279,229 354 Derivatives assets — — — 22 — — Derivatives liabilities — — — (109 ) (1 ) — Other liabilities (2) — — — — — — (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 March 31, 2017 Trading assets Securities of U.S. Treasury and federal agencies $ 12,369 3,436 — — 15,805 Securities of U.S. states and political subdivisions — 3,330 3 — 3,333 Collateralized loan obligations — 426 398 — 824 Corporate debt securities — 9,252 37 — 9,289 Mortgage-backed securities — 20,466 — — 20,466 Asset-backed securities — 794 — — 794 Equity securities 28,414 246 — — 28,660 Total trading securities (1) 40,783 37,950 438 — 79,171 Other trading assets — 1,129 26 — 1,155 Total trading assets 40,783 39,079 464 — 80,326 Securities of U.S. Treasury and federal agencies 21,672 2,953 — — 24,625 Securities of U.S. states and political subdivisions — 50,701 1,360 (2) — 52,061 Mortgage-backed securities: Federal agencies — 156,966 — — 156,966 Residential — 7,592 1 — 7,593 Commercial — 6,551 89 — 6,640 Total mortgage-backed securities — 171,109 90 — 171,199 Corporate debt securities 60 9,979 391 — 10,430 Collateralized loan and other debt obligations (3) — 33,045 964 (2) — 34,009 Asset-backed securities: Automobile loans and leases — 11 — — 11 Home equity loans — 319 — — 319 Other asset-backed securities — 4,905 845 (2) — 5,750 Total asset-backed securities — 5,235 845 — 6,080 Other debt securities — 1 — — 1 Total debt securities 21,732 273,023 3,650 — 298,405 Marketable equity securities: Perpetual preferred securities 190 292 — — 482 Other marketable equity securities 642 1 — — 643 Total marketable equity securities 832 293 — — 1,125 Total available-for-sale securities 22,564 273,316 3,650 — 299,530 Mortgages held for sale — 13,061 957 — 14,018 Loans — — 505 — 505 Mortgage servicing rights (residential) — — 13,208 — 13,208 Derivative assets: Interest rate contracts 28 63,205 254 — 63,487 Commodity contracts — 1,701 37 — 1,738 Equity contracts 1,808 3,215 1,233 — 6,256 Foreign exchange contracts 25 7,679 14 — 7,718 Credit contracts — 294 229 — 523 Netting — — — (67,158 ) (4) (67,158 ) Total derivative assets 1,861 76,094 1,767 (67,158 ) 12,564 Other assets – excluding nonmarketable equity investments at NAV — 40 3,740 — 3,780 Total assets included in the fair value hierarchy $ 65,208 401,590 24,291 (67,158 ) 423,931 Other assets – nonmarketable equity investments at NAV (5) — Total assets recorded at fair value $ 423,931 Derivative liabilities: Interest rate contracts $ (19 ) (63,377 ) (36 ) — (63,432 ) Commodity contracts — (1,330 ) (18 ) — (1,348 ) Equity contracts (1,164 ) (4,114 ) (1,532 ) — (6,810 ) Foreign exchange contracts (21 ) (9,596 ) (11 ) — (9,628 ) Credit contracts — (342 ) (142 ) — (484 ) Other derivative contracts — — (36 ) — (36 ) Netting — — — 69,277 (4) 69,277 Total derivative liabilities (1,204 ) (78,759 ) (1,775 ) 69,277 (12,461 ) Short sale liabilities: Securities of U.S. Treasury and federal agencies (12,164 ) (809 ) — — (12,973 ) Corporate debt securities — (4,712 ) — — (4,712 ) Equity securities (2,246 ) — — — (2,246 ) Other securities — (51 ) — — (51 ) Total short sale liabilities (14,410 ) (5,572 ) — — (19,982 ) Other liabilities — — (4 ) — (4 ) Total liabilities recorded at fair value $ (15,614 ) (84,331 ) (1,779 ) 69,277 (32,447 ) (1) Net gains (losses) from trading activities recognized in the income statement for the quarters ended March 31, 2017 and 2016 include $587 million and $572 million in net unrealized gains (losses) on trading securities held at March 31, 2017 and 2016 , 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 $945 million . (4) Represents balance sheet netting of derivative asset and liability balances and related cash collateral. See Note 12 (Derivatives) for additional information. (5) 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, 2016 Trading assets Securities of U.S. Treasury and federal agencies $ 14,950 2,710 — — 17,660 Securities of U.S. states and political subdivisions — 2,910 3 — 2,913 Collateralized loan obligations — 501 309 — 810 Corporate debt securities — 9,481 34 — 9,515 Mortgage-backed securities — 20,254 — — 20,254 Asset-backed securities — 1,128 — — 1,128 Equity securities 20,462 290 — — 20,752 Total trading securities (1) 35,412 37,274 346 — 73,032 Other trading assets — 1,337 28 — 1,365 Total trading assets 35,412 38,611 374 — 74,397 Securities of U.S. Treasury and federal agencies 22,870 2,949 — — 25,819 Securities of U.S. states and political subdivisions — 49,961 1,140 (2) — 51,101 Mortgage-backed securities: Federal agencies — 161,230 — — 161,230 Residential — 7,815 1 — 7,816 Commercial — 8,411 91 — 8,502 Total mortgage-backed securities — 177,456 92 — 177,548 Corporate debt securities 58 10,967 432 — 11,457 Collateralized loan and other debt obligations (3) — 34,141 879 (2) — 35,020 Asset-backed securities: Automobile loans and leases — 9 — — 9 Home equity loans — 327 — — 327 Other asset-backed securities — 4,909 962 (2) — 5,871 Total asset-backed securities — 5,245 962 — 6,207 Other debt securities — 1 — — 1 Total debt securities 22,928 280,720 3,505 — 307,153 Marketable equity securities: Perpetual preferred securities 112 357 — — 469 Other marketable equity securities 741 1 — — 742 Total marketable equity securities 853 358 — — 1,211 Total available-for-sale securities 23,781 281,078 3,505 — 308,364 Mortgages held for sale — 21,057 985 — 22,042 Loans — — 758 — 758 Mortgage servicing rights (residential) — — 12,959 — 12,959 Derivative assets: Interest rate contracts 44 64,986 238 — 65,268 Commodity contracts — 3,020 37 — 3,057 Equity contracts 1,314 2,997 1,047 — 5,358 Foreign exchange contracts 22 10,843 29 — 10,894 Credit contracts — 280 272 — 552 Netting — — — (70,631 ) (4) (70,631 ) Total derivative assets 1,380 82,126 1,623 (70,631 ) 14,498 Other assets – excluding nonmarketable equity investments at NAV — 16 3,259 — 3,275 Total assets included in the fair value hierarchy $ 60,573 422,888 23,463 (70,631 ) 436,293 Other assets – nonmarketable equity investments at NAV (5) — Total assets recorded at fair value $ 436,293 Derivative liabilities: Interest rate contracts $ (45 ) (65,047 ) (117 ) — (65,209 ) Commodity contracts — (2,537 ) (14 ) — (2,551 ) Equity contracts (919 ) (3,879 ) (1,314 ) — (6,112 ) Foreign exchange contracts (109 ) (12,616 ) (17 ) — (12,742 ) Credit contracts — (332 ) (195 ) — (527 ) Other derivative contracts — — (47 ) — (47 ) Netting — — — 72,696 (4) 72,696 Total derivative liabilities (1,073 ) (84,411 ) (1,704 ) 72,696 (14,492 ) Short sale liabilities: Securities of U.S. Treasury and federal agencies (9,722 ) (701 ) — — (10,423 ) Corporate debt securities — (4,063 ) — — (4,063 ) Equity securities (1,795 ) — — — (1,795 ) Other securities — (98 ) — — (98 ) Total short sale liabilities (11,517 ) (4,862 ) — — (16,379 ) Other liabilities — — (4 ) — (4 ) Total liabilities recorded at fair value $ (12,590 ) (89,273 ) (1,708 ) 72,696 (30,875 ) (1) Net gains (losses) from trading activities recognized in the income statement for the year ended December 31, 2016 , include $820 million in net unrealized gains (losses) on trading securities held at December 31, 2016 . (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 $847 million . (4) Represents balance sheet netting of derivative asset and liability balances and related cash collateral. See Note 12 (Derivatives) for additional information. (5) 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. |
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 March 31, 2017 Trading assets $ — — 1 (3 ) 3 (1 ) — Available-for-sale securities — — 72 (5 ) 5 (72 ) — Mortgages held for sale — — 1 (42 ) 42 (1 ) — Net derivative assets and liabilities (2) — — 3 22 (22 ) (3 ) — Short sale liabilities — — — — — — — Total transfers $ — — 77 (28 ) 28 (77 ) — Quarter ended March 31, 2016 Trading assets $ 4 — 11 (4 ) — (11 ) — Available-for-sale securities — — — (80 ) 80 — — Mortgages held for sale — — 2 (29 ) 29 (2 ) — Net derivative assets and liabilities (2) — — 62 (25 ) 25 (62 ) — Short sale liabilities (1 ) — — 1 — — — Total transfers $ 3 — 75 (137 ) 134 (75 ) — (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. |
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 March 31, 2017 , are presented in Table 13.4 . Table 13.4: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – Quarter ended March 31, 2017 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 March 31, 2017 Trading assets: Securities of U.S. states and political subdivisions $ 3 — — — — — 3 — Collateralized loan obligations 309 4 — 85 — — 398 — Corporate debt securities 34 — — 1 3 (1 ) 37 — Mortgage-backed securities — — — — — — — — Asset-backed securities — — — — — — — — Equity securities — — — — — — — — Total trading securities 346 4 — 86 3 (1 ) 438 — Other trading assets 28 (2 ) — — — — 26 (1 ) Total trading assets 374 2 — 86 3 (1 ) 464 (1 ) (3) Available-for-sale securities: Securities of U.S. states and political subdivisions 1,140 — 2 285 5 (72 ) 1,360 — Mortgage-backed securities: Residential 1 — — — — — 1 — Commercial 91 (3 ) 4 (3 ) — — 89 (4 ) Total mortgage-backed securities 92 (3 ) 4 (3 ) — — 90 (4 ) Corporate debt securities 432 (14 ) 8 (35 ) — — 391 — Collateralized loan and other debt obligations 879 5 41 39 — — 964 — Asset-backed securities: Automobile loans and leases — — — — — — — — Other asset-backed securities 962 — 2 (119 ) — — 845 — Total asset-backed securities 962 — 2 (119 ) — — 845 — Total debt securities 3,505 (12 ) 57 167 5 (72 ) 3,650 (4 ) (4) Marketable equity securities: Perpetual preferred securities — — — — — — — — Other marketable equity securities — — — — — — — — Total marketable equity securities — — — — — — — — (5) Total available-for-sale securities 3,505 (12 ) 57 167 5 (72 ) 3,650 (4 ) Mortgages held for sale 985 (9 ) — (60 ) 42 (1 ) 957 (11 ) (6) Loans 758 (6 ) — (247 ) — — 505 (5 ) (6) Mortgage servicing rights (residential) (7) 12,959 (287 ) — 536 — — 13,208 174 (6) Net derivative assets and liabilities: Interest rate contracts 121 209 — (112 ) — — 218 85 Commodity contracts 23 2 — (6 ) — — 19 7 Equity contracts (267 ) (44 ) — 37 (22 ) (3 ) (299 ) (57 ) Foreign exchange contracts 12 (9 ) — — — — 3 (5 ) Credit contracts 77 7 — 3 — — 87 (14 ) Other derivative contracts (47 ) 11 — — — — (36 ) 11 Total derivative contracts (81 ) 176 — (78 ) (22 ) (3 ) (8 ) 27 (8) Other assets 3,259 481 — — — — 3,740 485 (5) Short sale liabilities — — — — — — — — (3) Other liabilities (4 ) — — — — — (4 ) — (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 March 31, 2017 . Table 13.5: Gross Purchases, Sales, Issuances and Settlements – Level 3 – Quarter ended March 31, 2017 (in millions) Purchases Sales Issuances Settlements Net Quarter ended March 31, 2017 Trading assets: Securities of U.S. states and political subdivisions $ 1 (1 ) — — — Collateralized loan obligations 199 (76 ) — (38 ) 85 Corporate debt securities 6 (5 ) — — 1 Mortgage-backed securities — — — — — Asset-backed securities — — — — — Equity securities — — — — — Total trading securities 206 (82 ) — (38 ) 86 Other trading assets — — — — — Total trading assets 206 (82 ) — (38 ) 86 Available-for-sale securities: Securities of U.S. states and political subdivisions — — 346 (61 ) 285 Mortgage-backed securities: Residential — — — — — Commercial — — — (3 ) (3 ) Total mortgage-backed securities — — — (3 ) (3 ) Corporate debt securities 4 — — (39 ) (35 ) Collateralized loan and other debt obligations 72 — — (33 ) 39 Asset-backed securities: Automobile loans and leases — — — — — Other asset-backed securities — — 21 (140 ) (119 ) Total asset-backed securities — — 21 (140 ) (119 ) Total debt securities 76 — 367 (276 ) 167 Marketable equity securities: Perpetual preferred securities — — — — — Other marketable equity securities — — — — — Total marketable equity securities — — — — — Total available-for-sale securities 76 — 367 (276 ) 167 Mortgages held for sale 22 (156 ) 106 (32 ) (60 ) Loans 1 (129 ) 6 (125 ) (247 ) Mortgage servicing rights (residential) (1) — (47 ) 583 — 536 Net derivative assets and liabilities: Interest rate contracts — — — (112 ) (112 ) Commodity contracts — — — (6 ) (6 ) Equity contracts — — — 37 37 Foreign exchange contracts — — — — — Credit contracts 2 (1 ) — 2 3 Other derivative contracts — — — — — Total derivative contracts 2 (1 ) — (79 ) (78 ) Other assets — — — — — Short sale liabilities — — — — — Other liabilities — — — — — (1) For more information on the changes in mortgage servicing rights, see Note 8 (Mortgage Banking Activities). The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarter ended March 31, 2016 , are presented in Table 13.6 . Table 13.6: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – Quarter ended March 31, 2016 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 March 31, 2016 Trading assets: Securities of U.S. states and political subdivisions $ 8 — — — — — 8 — Collateralized loan obligations 343 (25 ) — (39 ) — (11 ) 268 (23 ) Corporate debt securities 56 (5 ) — (18 ) — — 33 (4 ) Mortgage-backed securities — — — — — — — — Asset-backed securities — — — — — — — — Equity securities — — — — — — — — Total trading securities 407 (30 ) — (57 ) — (11 ) 309 (27 ) Other trading assets 34 (2 ) — — — — 32 — Total trading assets 441 (32 ) — (57 ) — (11 ) 341 (27 ) (3) Available-for-sale securities: Securities of U.S. states and political subdivisions 1,500 1 3 (127 ) 80 — 1,457 — Mortgage-backed securities: Residential 1 — — — — — 1 — Commercial 73 — — — — — 73 — Total mortgage-backed securities 74 — — — — — 74 — Corporate debt securities 405 2 19 27 — — 453 — Collateralized loan and other debt obligations 565 15 (24 ) 257 — — 813 — Asset-backed securities: Automobile loans and leases — — — — — — — — Other asset-backed securities 1,182 — — 58 — — 1,240 — Total asset-backed securities 1,182 — — 58 — — 1,240 — Total debt securities 3,726 18 (2 ) 215 80 — 4,037 — (4) Marketable equity securities: Perpetual preferred securities — — — — — — — — Other marketable equity securities — — — — — — — — Total marketable equity securities — — — — — — — — (5) Total available-for-sale securities 3,726 18 (2 ) 215 80 — 4,037 — Mortgages held for sale 1,082 24 — (62 ) 29 (2 ) 1,071 21 (6) Loans 5,316 (1 ) — (94 ) — — 5,221 (2 ) (6) Mortgage servicing rights (residential) (7) 12,415 (1,448 ) — 366 — — 11,333 (957 ) (6) Net derivative assets and liabilities: Interest rate contracts 288 599 — (379 ) — (7 ) 501 270 Commodity contracts 12 2 — (3 ) — — 11 3 Equity contracts (111 ) (2 ) — (140 ) 25 (55 ) (283 ) (147 ) Foreign exchange contracts — — — — — — — — Credit contracts (3 ) 9 — (6 ) — — — (1 ) Other derivative contracts (58 ) (21 ) — 2 — — (77 ) (21 ) Total derivative contracts 128 587 — (526 ) 25 (62 ) 152 104 (8) Other assets 3,065 (57 ) — 89 — — 3,097 (58 ) (5) Short sale liabilities — — — — — — — — (3) Other liabilities (30 ) — — 25 — — (5 ) — (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 March 31, 2016 . Table 13.7: Gross Purchases, Sales, Issuances and Settlements – Level 3 – Quarter ended March 31, 2016 (in millions) Purchases Sales Issuances Settlements Net Quarter ended March 31, 2016 Trading assets: Securities of U.S. states and political subdivisions $ — — — — — Collateralized loan obligations 56 (95 ) — — (39 ) Corporate debt securities 3 (21 ) — — (18 ) Mortgage-backed securities — — — — — Asset-backed securities — — — — — Equity securities — — — — — Total trading securities 59 (116 ) — — (57 ) Other trading assets — — — — — Total trading assets 59 (116 ) — — (57 ) Available-for-sale securities: Securities of U.S. states and political subdivisions 28 — 16 (171 ) (127 ) Mortgage-backed securities: Residential — — — — — Commercial — — — — — Total mortgage-backed securities — — — — — Corporate debt securities 28 — — (1 ) 27 Collateralized loan and other debt obligations 301 — — (44 ) 257 Asset-backed securities: Automobile loans and leases — — — — — Other asset-backed securities — — 160 (102 ) 58 Total asset-backed securities — — 160 (102 ) 58 Total debt securities 357 — 176 (318 ) 215 Marketable equity securities: Perpetual preferred securities — — — — — Other marketable equity securities — — — — — Total marketable equity securities — — — — — Total available-for-sale securities 357 — 176 (318 ) 215 Mortgages held for sale 22 (159 ) 118 (43 ) (62 ) Loans 4 — 88 (186 ) (94 ) Mortgage servicing rights (residential) (1) — — 366 — 366 Net derivative assets and liabilities: Interest rate contracts — — — (379 ) (379 ) Commodity contracts — — — (3 ) (3 ) Equity contracts 13 (147 ) — (6 ) (140 ) Foreign exchange contracts — — — — — Credit contracts 3 — — (9 ) (6 ) Other derivative contracts — — — 2 2 Total derivative contracts 16 (147 ) — (395 ) (526 ) Other assets 89 — — — 89 Short sale liabilities — — — — — Other liabilities — — — 25 25 (1) For more information on the changes in mortgage servicing rights, see Note 8 (Mortgage Banking Activities). |
Fair Value, Assets and Liabilities Measured on Recurring Basis, Quantitative Information about Valuation Techniques and Unobservable Inputs | Table 13.8: Valuation Techniques – Recurring Basis – March 31, 2017 ($ in millions, except cost to service amounts) Fair Value Level 3 Valuation Technique(s) Significant Unobservable Input Range of Inputs Weighted Average (1) March 31, 2017 Trading and available-for-sale securities: Securities of U.S. states and political subdivisions: Government, healthcare and other revenue bonds $ 1,120 Discounted cash flow Discount rate 1.2 - 5.0 % 2.0 Auction rate securities and other municipal bonds 29 Discounted cash flow Discount rate 4.1 - 4.6 4.3 214 Vendor priced Collateralized loan and other debt obligations (2) 398 Market comparable pricing Comparability adjustment (19.8 ) - 20.3 1.6 964 Vendor priced Asset-backed securities: Diversified payment rights (3) 401 Discounted cash flow Discount rate 1.7 - 4.3 3.1 Other commercial and consumer 417 (4) Discounted cash flow Discount rate 3.3 - 4.7 4.2 Weighted average life 0.6 - 4.0 yrs 2.8 27 Vendor priced Mortgages held for sale (residential) 928 Discounted cash flow Default rate 0.5 - 8.1 % 1.8 Discount rate 2.1 - 7.0 5.3 Loss severity 0.1 - 45.9 28.1 Prepayment rate 6.2 - 17.2 10.0 29 Market comparable pricing Comparability adjustment (53.3 ) - 0.0 (36.3 ) Loans 505 (5) Discounted cash flow Discount rate 0.0 - 7.2 0.2 Prepayment rate 9.4 - 100.0 95.0 Mortgage servicing rights (residential) 13,208 Discounted cash flow Cost to service per loan (6) $ 79 - 562 150 Discount rate 6.6 - 18.8 % 6.9 Prepayment rate (7) 9.2 - 21.2 10.2 Net derivative assets and (liabilities): Interest rate contracts 105 Discounted cash flow Default rate 0.0 - 6.8 1.7 Loss severity 50.0 - 50.0 50.0 Prepayment rate 2.8 - 12.5 9.6 Interest rate contracts: derivative loan commitments 113 Discounted cash flow Fall-out factor 1.0 - 99.0 21.0 Initial-value servicing (23.8 ) - 131.2 bps 61.0 Equity contracts 94 Discounted cash flow Conversion factor (10.3 ) - 0.0 % (7.9 ) Weighted average life 0.8 - 2.8 yrs 1.7 (393 ) Option model Correlation factor (77.0 ) - 98.5 % 37.6 Volatility factor 5.0 - 100.0 19.7 Credit contracts 0 (8) Market comparable pricing Comparability adjustment (23.8 ) - 29.1 1.0 87 Option model Credit spread 0.0 - 9.4 1.1 Loss severity 12.0 - 60.0 48.4 Other assets: nonmarketable equity investments 17 Discounted cash flow Discount rate 5.0 - 10.3 9.0 Volatility Factor 0.4 2.8 1.4 3,723 Market comparable pricing Comparability adjustment (21.0 ) - (4.8 ) (15.6 ) Insignificant Level 3 assets, net of liabilities 526 (9) Total level 3 assets, net of liabilities $ 22,512 (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 $945 million of collateralized debt obligations. (3) Securities backed by specified sources of current and future receivables generated from foreign originators. (4) A significant portion of the balance consists of investments in asset-backed securities that are revolving in nature, for 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 $79 - $280 . (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) Consists of $15 million of derivative assets and $15 million derivative liabilities. (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, foreign exchange contracts, and other derivative contracts. (10) Consists of total Level 3 assets of $24.3 billion and total Level 3 liabilities of $1.8 billion , before netting of derivative balances. Table 13.9: Valuation Techniques – Recurring Basis – December 31, 2016 ($ in millions, except cost to service amounts) Fair Value Level 3 Valuation Technique(s) Significant Unobservable Input Range of Inputs Weighted Average (1) December 31, 2016 Trading and available-for-sale securities: Securities of U.S. states and political subdivisions: Government, healthcare and other revenue bonds $ 906 Discounted cash flow Discount rate 1.1 - 5.6 % 2.0 Auction rate securities and other municipal bonds 29 Discounted cash flow Discount rate 3.7 - 4.9 4.5 Weighted average life 3.6 - 3.6 yrs 3.6 208 Vendor priced Collateralized loan and other debt obligations (2) 309 Market comparable pricing Comparability adjustment (15.5 ) - 20.3 % 2.9 879 Vendor priced Asset-backed securities: Diversified payment rights (3) 443 Discounted cash flow Discount rate 1.9 - 4.8 3.3 Other commercial and consumer 492 (4) Discounted cash flow Discount rate 3.0 - 4.6 3.9 Weighted average life 0.8 - 4.2 yrs 2.9 27 Vendor priced Mortgages held for sale (residential) 955 Discounted cash flow Default rate 0.5 - 7.9 % 1.9 Discount rate 1.1 - 6.9 5.1 Loss severity 0.1 - 42.5 26.9 Prepayment rate 6.3 - 17.1 10.0 30 Market comparable pricing Comparability adjustment (53.3 ) - 0.0 (37.8 ) Loans 758 (5) Discounted cash flow Discount rate 0.0 - 3.9 0.6 Prepayment rate 0.4 - 100.0 83.7 Utilization rate 0.0 - 0.8 0.1 Mortgage servicing rights (residential) 12,959 Discounted cash flow Cost to service per loan (6) $ 79 - 598 155 Discount rate 6.5 - 18.4 % 6.8 Prepayment rate (7) 9.4 - 20.6 10.3 Net derivative assets and (liabilities): Interest rate contracts 127 Discounted cash flow Default rate 0.1 - 6.8 2.1 Loss severity 50.0 - 50.0 50.0 Prepayment rate 2.8 - 12.5 9.6 Interest rate contracts: derivative loan commitments (6 ) Discounted cash flow Fall-out factor 1.0 - 99.0 15.0 Initial-value servicing (23.0 ) - 131.2 bps 56.8 Equity contracts 79 Discounted cash flow Conversion factor (10.6 ) - 0.0 % (7.9 ) Weighted average life 1.0 - 3.0 yrs 2.0 (346 ) Option model Correlation factor (65.0 ) - 98.5 % 39.9 Volatility factor 6.5 - 100.0 20.7 Credit contracts (28 ) Market comparable pricing Comparability adjustment (27.7 ) - 21.3 0.02 105 Option model Credit spread 0.0 - 11.6 1.2 Loss severity 12.0 - 60.0 50.4 Other assets: nonmarketable equity investments 21 Discounted cash flow Discount rate 5.0 - 10.3 8.7 Volatility Factor 0.3 2.4 1.1 3,238 Market comparable pricing Comparability adjustment (22.1 ) - (5.5 ) (16.4 ) Insignificant Level 3 assets, net of liabilities 570 (8) Total level 3 assets, net of liabilities $ 21,755 (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 $847 million of collateralized debt obligations. (3) Securities backed by specified sources of current and future receivables generated from foreign originators. (4) A significant portion of the balance consists of investments in asset-backed securities that are revolving in nature, for 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 $79 - $293 . (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, foreign exchange contracts, and other derivative contracts. (9) Consists of total Level 3 assets of $23.5 billion and total Level 3 liabilities of $1.7 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 March 31, 2017 , and December 31, 2016 , and for which a nonrecurring fair value adjustment was recorded during the periods presented. Table 13.14: Fair Value on a Nonrecurring Basis March 31, 2017 December 31, 2016 (in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Mortgages held for sale (LOCOM) (1) $ — 1,624 1,318 2,942 — 2,312 1,350 3,662 Loans held for sale — 24 — 24 — 8 — 8 Loans: Commercial — 452 — 452 — 464 — 464 Consumer — 225 5 230 — 822 7 829 Total loans (2) — 677 5 682 — 1,286 7 1,293 Other assets - excluding nonmarketable equity investments at NAV (3) — 170 147 317 — 233 412 645 Total included in the fair value hierarchy $ — 2,495 1,470 3,965 — 3,839 1,769 5,608 Other assets - nonmarketable equity investments at NAV (4) — 13 Total assets at fair value on a nonrecurring basis $ 3,965 5,621 (1) Consists of commercial mortgages and residential real estate 1-4 family first mortgage loans. (2) Represents the carrying value of loans for which nonrecurring 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 periods presented. Table 13.15: Change in Value of Assets with Nonrecurring Fair Value Adjustment Quarter ended March 31, (in millions) 2017 2016 Mortgages held for sale (LOCOM) $ 21 31 Loans: Commercial (127 ) (110 ) Consumer (175 ) (260 ) Total loans (1) (302 ) (370 ) Other assets (2) (100 ) (99 ) Total $ (381 ) (438 ) (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, Quantitative 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 valuation techniques and significant unobservable inputs for certain classes of Level 3 assets 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) March 31, 2017 Residential mortgages held for sale (LOCOM) $ 1,318 (3) Discounted cash flow Default rate (4) 0.1 — 8.6 % 2.8 % Discount rate 1.5 — 8.5 3.8 Loss severity 0.7 — 47.8 2.4 Prepayment rate (5) 3.5 — 100.0 49.9 Other assets: nonmarketable equity investments 3 Discounted cash flow Discount rate 15.0 — 15.0 15.0 Insignificant level 3 assets 149 Total $ 1,470 December 31, 2016 Residential mortgages held for sale (LOCOM) $ 1,350 (3) Discounted cash flow Default rate (4) 0.2 — 4.3 % 1.9 % Discount rate 1.5 — 8.5 3.8 Loss severity 0.7 — 50.1 2.4 Prepayment rate (5) 3.0 — 100.0 50.7 Other assets: nonmarketable equity investments 220 Discounted cash flow Discount rate 4.7 — 9.3 7.3 Insignificant level 3 assets 199 Total $ 1,769 (1) Refer to the narrative following Table 13.9 for a definition of the valuation technique(s) and significant unobservable inputs. (2) For residential MHFS, weighted averages are calculated using the outstanding unpaid principal balance of the loans. (3) Consists of approximately $1.3 billion of government insured/guaranteed loans purchased from GNMA-guaranteed mortgage securitizations at both March 31, 2017 , and December 31, 2016 , and $32 million and $33 million of other mortgage loans that are not government insured/guaranteed at March 31, 2017 and December 31, 2016 , respectively. (4) Applies only to non-government insured/guaranteed loans. (5) Includes the impact on prepayment rate of expected defaults for government insured/guaranteed loans, which impact 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 the assets for which we have elected the fair value option and the contractual aggregate unpaid principal amount at maturity. Table 13.17: Fair Value Option March 31, 2017 December 31, 2016 (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 $ 1,120 1,168 (48 ) 1,332 1,418 (86 ) Nonaccrual loans 46 49 (3 ) 100 115 (15 ) Mortgages held for sale: Total loans 14,018 13,695 323 22,042 21,961 81 Nonaccrual loans 130 172 (42 ) 136 182 (46 ) Loans 90 days or more past due and still accruing 11 15 (4 ) 12 16 (4 ) Loans held for sale: Total loans — 6 (6 ) — 6 (6 ) Nonaccrual loans — 6 (6 ) — 6 (6 ) Loans: Total loans 505 529 (24 ) 758 775 (17 ) Nonaccrual loans 302 325 (23 ) 297 318 (21 ) Other assets (1) 3,780 N/A N/A 3,275 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 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 2017 2016 (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 March 31, Trading assets - loans $ — 25 — — 10 — Mortgages held for sale 279 — — 565 — — Loans — — — — — (1 ) Other assets — — 490 — — (58 ) Other interests held (1) — (2 ) — — (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 March 31, (in millions) 2017 2016 Gains (losses) attributable to instrument-specific credit risk: Trading assets – loans $ 25 10 Mortgages held for sale (1 ) (4 ) Total $ 24 6 |
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 March 31, 2017 Financial assets Cash and due from banks (1) $ 19,698 19,698 — — 19,698 Federal funds sold, securities purchased under resale agreements and other short-term investments (1) 308,747 26,189 282,480 78 308,747 Held-to-maturity securities 108,030 45,154 60,138 2,337 107,629 Mortgages held for sale (2) 3,804 — 2,496 1,318 3,814 Loans held for sale 253 — 255 — 255 Loans, net (3) 927,812 — 58,461 878,705 937,166 Nonmarketable equity investments (cost method) Excluding investments at NAV 8,108 — 18 8,637 8,655 Total financial assets included in the fair value hierarchy 1,376,452 91,041 403,848 891,075 1,385,964 Investments at NAV (4) 14 16 Total financial assets $ 1,376,466 1,385,980 Financial liabilities Deposits $ 1,325,444 — 1,302,614 22,994 1,325,608 Short-term borrowings (1) 94,871 — 94,871 — 94,871 Long-term debt (5) 256,461 — 248,256 10,163 258,419 Total financial liabilities $ 1,676,776 — 1,645,741 33,157 1,678,898 December 31, 2016 Financial assets Cash and due from banks (1) $ 20,729 20,729 — — 20,729 Federal funds sold, securities purchased under resale agreements and other short-term investments (1) 266,038 18,670 247,286 82 266,038 Held-to-maturity securities 99,583 45,079 51,706 2,370 99,155 Mortgages held for sale (2) 4,267 — 2,927 1,350 4,277 Loans held for sale 80 — 81 — 81 Loans, net (3) 936,358 — 60,245 887,589 947,834 Nonmarketable equity investments (cost method) Excluding investments at NAV 8,362 — 18 8,924 8,942 Total financial assets included in the fair value hierarchy 1,335,417 84,478 362,263 900,315 1,347,056 Investments at NAV (4) 35 48 Total financial assets $ 1,335,452 1,347,104 Financial liabilities Deposits $ 1,306,079 — 1,282,158 23,995 1,306,153 Short-term borrowings (1) 96,781 — 96,781 — 96,781 Long-term debt (5) 255,070 — 245,704 10,075 255,779 Total financial liabilities $ 1,657,930 — 1,624,643 34,070 1,658,713 (1) Amounts consist of financial instruments for which carrying value approximates fair value. (2) Excludes MHFS for which we elected the fair value option. (3) Excludes loans for which the fair value option was elected and also exclude lease financing with a carrying amount of $19.2 billion and $19.3 billion at March 31, 2017 , and December 31, 2016 , 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) Excludes capital lease obligations under capital leases of $7 million at both March 31, 2017 , and December 31, 2016 . |
Preferred Stock (Tables)
Preferred Stock (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Preferred Stock [Abstract] | |
Preferred Stock Shares | 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 March 31, 2017 December 31, 2016 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 (1) — — 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 5.90% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 25,000 80,000 25,000 80,000 Series T 6.00% 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 6.00% Non-Cumulative Perpetual Class A Preferred Stock 25,000 40,000 25,000 40,000 Series W 5.70% Non-Cumulative Perpetual Class A Preferred Stock 25,000 40,000 25,000 40,000 Series X 5.50% Non-Cumulative Perpetual Class A Preferred Stock 25,000 46,000 25,000 46,000 ESOP Cumulative Convertible Preferred Stock (2) — 2,389,181 — 1,439,181 Total 12,841,891 11,941,891 (1) On January 26, 2017, we filed with the Delaware Secretary of State a Certificate Eliminating the Certificate of Designations with respect to the Series H preferred stock. (2) 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 March 31, 2017 December 31, 2016 (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) 5.90% 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) 6.00% 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) 6.00% Non-Cumulative Perpetual Class A Preferred Stock 40,000 1,000 1,000 — 40,000 1,000 1,000 — Series W (1) 5.70% Non-Cumulative Perpetual Class A Preferred Stock 40,000 1,000 1,000 — 40,000 1,000 1,000 — Series X (1) 5.50% Non-Cumulative Perpetual Class A Preferred Stock 46,000 1,150 1,150 — 46,000 1,150 1,150 — ESOP Cumulative Convertible Preferred Stock 2,389,181 2,389 2,389 — 1,439,181 1,439 1,439 — Total 12,482,712 $ 26,900 25,501 1,399 11,532,712 $ 25,950 24,551 1,399 (1) Preferred shares qualify as Tier 1 capital. |
ESOP Preferred Stock | Table 14.3: ESOP Preferred Stock Shares issued and outstanding Carrying value Adjustable dividend rate (in millions, except shares) Mar 31, Dec 31, Mar 31, Dec 31, Minimum Maximum ESOP Preferred Stock $1,000 liquidation preference per share 2017 950,000 — $ 950 — 7.00 % 8.00 2016 358,528 358,528 358 358 9.30 10.30 2015 200,820 200,820 201 201 8.90 9.90 2014 255,413 255,413 255 255 8.70 9.70 2013 222,558 222,558 223 223 8.50 9.50 2012 144,072 144,072 144 144 10.00 11.00 2011 149,301 149,301 149 149 9.00 10.00 2010 90,775 90,775 91 91 9.50 10.50 2008 17,714 17,714 18 18 10.50 11.50 Total ESOP Preferred Stock (1) 2,389,181 1,439,181 $ 2,389 1,439 Unearned ESOP shares (2) $ (2,546 ) (1,565 ) (1) At March 31, 2017 and December 31, 2016 , additional paid-in capital included $157 million and $126 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) | 3 Months Ended |
Mar. 31, 2017 | |
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 2017 2016 Pension benefits Pension benefits (in millions) Qualified Non-qualified Other benefits Qualified Non-qualified Other benefits Quarter ended March 31, Service cost $ 1 — — 1 — — Interest cost 103 6 7 109 7 10 Expected return on plan assets (163 ) — (7 ) (142 ) — (8 ) Amortization of net actuarial loss (gain) 38 2 (2 ) 33 3 (1 ) Amortization of prior service credit — — (3 ) — — — Settlement loss 1 2 — — 2 — Net periodic benefit cost (income) $ (20 ) 10 (5 ) 1 12 1 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share Calculations | 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 March 31, (in millions, except per share amounts) 2017 2016 Wells Fargo net income $ 5,457 5,462 Less: Preferred stock dividends and other 401 377 Wells Fargo net income applicable to common stock (numerator) $ 5,056 5,085 Earnings per common share Average common shares outstanding (denominator) 5,008.6 5,075.7 Per share $ 1.01 1.00 Diluted earnings per common share Average common shares outstanding 5,008.6 5,075.7 Add: Stock options 21.2 21.2 Restricted share rights 28.0 31.7 Warrants 12.6 10.8 Diluted average common shares outstanding (denominator) 5,070.4 5,139.4 Per share $ 1.00 0.99 |
Outstanding Anti-Dilutive Options | 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 March 31, (in millions) 2017 2016 Options 2.2 4.4 |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 2016 (in millions) Before tax Tax effect Net of tax Before tax Tax effect Net of tax Investment securities: Net unrealized gains arising during the period $ 369 (133 ) 236 795 (310 ) 485 Reclassification of net (gains) losses to net income: Interest income on investment securities (1) 7 (3 ) 4 — — — Net gains on debt securities (36 ) 13 (23 ) (244 ) 91 (153 ) Net gains from equity investments (116 ) 44 (72 ) (59 ) 22 (37 ) Other noninterest income — — — (1 ) — (1 ) Subtotal reclassifications to net income (145 ) 54 (91 ) (304 ) 113 (191 ) Net change 224 (79 ) 145 491 (197 ) 294 Derivatives and hedging activities: Net unrealized gains (losses) arising during the period (133 ) 50 (83 ) 1,999 (753 ) 1,246 Reclassification of net (gains) losses to net income: Interest income on loans (205 ) 77 (128 ) (260 ) 98 (162 ) Interest expense on long-term debt 3 (1 ) 2 4 (2 ) 2 Subtotal reclassifications to net income (202 ) 76 (126 ) (256 ) 96 (160 ) Net change (335 ) 126 (209 ) 1,743 (657 ) 1,086 Defined benefit plans adjustments: Net actuarial and prior service losses arising during the period (7 ) 3 (4 ) (8 ) 3 (5 ) Reclassification of amounts to net periodic benefit costs (2): Amortization of net actuarial loss 38 (14 ) 24 35 (13 ) 22 Settlements and other — — — 2 (1 ) 1 Subtotal reclassifications to net periodic benefit costs 38 (14 ) 24 37 (14 ) 23 Net change 31 (11 ) 20 29 (11 ) 18 Foreign currency translation adjustments: Net unrealized gains arising during the period 16 1 17 43 8 51 Net change 16 1 17 43 8 51 Other comprehensive income (loss) $ (64 ) 37 (27 ) 2,306 (857 ) 1,449 Less: Other comprehensive income (loss) from noncontrolling interests, net of tax 14 (28 ) Wells Fargo other comprehensive income (loss), net of tax $ (41 ) 1,477 (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 March 31, 2017 Balance, beginning of period $ (1,099 ) 89 (1,943 ) (184 ) (3,137 ) Net unrealized gains (losses) arising during the period 236 (83 ) (4 ) 17 166 Amounts reclassified from accumulated other comprehensive income (91 ) (126 ) 24 — (193 ) Net change 145 (209 ) 20 17 (27 ) Less: Other comprehensive income from noncontrolling interests 13 — — 1 14 Balance, end of period $ (967 ) (120 ) (1,923 ) (168 ) (3,178 ) Quarter ended March 31, 2016 Balance, beginning of period $ 1,813 620 (1,951 ) (185 ) 297 Net unrealized gains (losses) arising during the period 485 1,246 (5 ) 51 1,777 Amounts reclassified from accumulated other comprehensive income (191 ) (160 ) 23 — (328 ) Net change 294 1,086 18 51 1,449 Less: Other comprehensive income (loss) from noncontrolling interests (30 ) — — 2 (28 ) Balance, end of period $ 2,137 1,706 (1,933 ) (136 ) 1,774 |
Operating Segments (Tables)
Operating Segments (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Segment Reporting [Abstract] | |
Operating Segments | Table 18.1 presents our results by 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) 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 Quarter ended March 31, Net interest income (2) $ 7,627 7,468 4,148 3,748 1,074 943 (549 ) (492 ) 12,300 11,667 Provision (reversal of provision) for credit losses 646 720 (43 ) 363 (4 ) (14 ) 6 17 605 1,086 Noninterest income 4,466 5,146 2,890 3,210 3,119 2,911 (773 ) (739 ) 9,702 10,528 Noninterest expense 7,221 6,836 4,225 3,968 3,206 3,042 (860 ) (818 ) 13,792 13,028 Income (loss) before income tax expense (benefit) 4,226 5,058 2,856 2,627 991 826 (468 ) (430 ) 7,605 8,081 Income tax expense (benefit) 1,127 1,697 746 719 362 314 (178 ) (163 ) 2,057 2,567 Net income (loss) before noncontrolling interests 3,099 3,361 2,110 1,908 629 512 (290 ) (267 ) 5,548 5,514 Less: Net income (loss) from noncontrolling interests 90 65 (5 ) (13 ) 6 — — — 91 52 Net income (loss) (3) $ 3,009 3,296 2,115 1,921 623 512 (290 ) (267 ) 5,457 5,462 Average loans $ 482.7 484.3 466.3 429.8 70.7 64.1 (56.1 ) (51.0 ) 963.6 927.2 Average assets 990.7 947.4 807.8 748.6 221.9 208.1 (89.4 ) (84.2 ) 1,931.0 1,819.9 Average deposits 717.2 683.0 466.0 428.0 195.6 184.5 (79.6 ) (76.1 ) 1,299.2 1,219.4 (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) | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 , 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. March 31, 2017 December 31, 2016 March 31, 2017 December 31, 2016 (in millions, except ratios) Advanced Approach Standardized Approach Advanced Approach Standardized Advanced Approach Standardized Advanced Approach Standardized Regulatory capital: Common equity tier 1 $ 149,860 149,860 148,785 148,785 133,362 133,362 132,225 132,225 Tier 1 172,543 172,543 171,364 171,364 133,362 133,362 132,225 132,225 Total 205,269 215,158 204,425 214,877 147,007 156,150 145,665 155,281 Assets: Risk-weighted $ 1,250,630 1,300,723 1,274,589 1,336,198 1,123,251 1,190,078 1,143,681 1,222,876 Adjusted average (1) 1,901,719 1,901,719 1,914,802 1,914,802 1,705,841 1,705,841 1,714,524 1,714,524 Regulatory capital ratios: Common equity tier 1 capital 11.98 % 11.52 * 11.67 11.13 * 11.87 11.21 * 11.56 10.81 * Tier 1 capital 13.80 13.27 * 13.44 12.82 * 11.87 11.21 * 11.56 10.81 * Total capital 16.41 * 16.54 16.04 * 16.08 13.09 * 13.12 12.74 12.70 * Tier 1 leverage (1) 9.07 9.07 8.95 8.95 7.82 7.82 7.71 7.71 *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 March 31, 2017 and December 31, 2016 . Table 19.2: Minimum Required Regulatory Capital Ratios – Transition Requirements (1) Wells Fargo & Company Wells Fargo Bank, N.A. March 31, 2017 December 31, 2016 March 31, 2017 December 31, 2016 Regulatory capital ratios: Common equity tier 1 capital 6.750 % 5.625 5.750 5.125 Tier 1 capital 8.250 7.125 7.250 6.625 Total capital 10.250 9.125 9.250 8.625 Tier 1 leverage 4.000 4.000 4.000 4.000 (1) At March 31, 2017 , under transition requirements, the CET1, tier 1 and total capital minimum ratio requirements for Wells Fargo & Company include a capital conservation buffer of 1.250% and a global systemically important bank (G-SIB) surcharge of 1.000% . Only the 1.250% capital conservation buffer applies to the Bank at March 31, 2017 . |
Summary of Significant Accoun47
Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Supplemental cash flow information - Noncash activities | ||
Trading assets retained from securitization of MHFS | $ 20,929 | $ 9,955 |
Transfers from loans to MHFS | 1,657 | 1,839 |
Transfers from available-for-sale to held-to-maturity securities | 9,897 | 0 |
Private Forward Repurchase Transaction [Member] | ||
Summary Of Significant Accounting Policies Textuals [Abstract] | ||
Private forward repurchase contract | $ 0 | $ 0 |
Business Combinations (Details)
Business Combinations (Details) | 3 Months Ended |
Mar. 31, 2017business | |
Business Acquisition [Line Items] | |
Business acquisition, number completed during period | 0 |
Federal Funds Sold, Securitie49
Federal Funds Sold, Securities Purchased under Resale Agreements and Other Short-Term Investments (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Federal Funds Sold, Securities Purchased under Resale Agreements and Other Short-Term Investments [Line Items] | ||
Federal funds sold and securities purchased under resale agreements | $ 68,457 | $ 58,215 |
Interest-earning deposits | 227,635 | 200,671 |
Other short-term investments | 12,655 | 7,152 |
Total | 308,747 | 266,038 |
Federal Funds Sold, Securities Purchased under Resale Agreements and Other Short-Term Investments Textual [Abstract] | ||
Unfunded contractual commitments | 1,700 | 2,900 |
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 | $ 21,200 | $ 21,300 |
Investment Securities, Major Ca
Investment Securities, Major Categories (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Available-for-sale securities: | ||
Amortized Cost | $ 300,688 | $ 310,153 |
Gross unrealized gains | 3,614 | 3,618 |
Gross unrealized losses | (4,772) | (5,407) |
Fair value | 299,530 | 308,364 |
Held-to-maturity securities: | ||
Held-to-maturity securities, Amortized Cost | 108,030 | 99,583 |
Gross unrealized gains | 651 | 599 |
Gross unrealized losses | (1,052) | (1,027) |
Held-to-maturity, at fair value | 107,629 | 99,155 |
Total investment securities: | ||
Amortized Cost | 408,718 | 409,736 |
Gross unrealized gains | 4,265 | 4,217 |
Gross unrealized losses | (5,824) | (6,434) |
Fair value | 407,159 | 407,519 |
Held-to-maturity, at fair value | 107,629 | 99,155 |
Collateralized Debt Obligations [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 875 | 819 |
Fair value | 945 | 847 |
Asset-backed Securities, Securitized Loans and Receivables [Member] | ||
Held-to-maturity securities: | ||
Held-to-maturity securities, Amortized Cost | 1,200 | 1,300 |
Held-to-maturity, at fair value | 1,200 | 1,300 |
Total investment securities: | ||
Held-to-maturity, at fair value | 1,200 | 1,300 |
Asset-backed Securities Collateralized by Dealer Floorplan Loans [Member] | ||
Held-to-maturity securities: | ||
Held-to-maturity securities, Amortized Cost | 1,100 | 1,100 |
Held-to-maturity, at fair value | 1,100 | 1,100 |
Total investment securities: | ||
Held-to-maturity, at fair value | 1,100 | 1,100 |
Total debt securities [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 300,013 | 309,447 |
Gross unrealized gains | 3,157 | 3,102 |
Gross unrealized losses | (4,765) | (5,396) |
Fair value | 298,405 | 307,153 |
Held-to-maturity securities: | ||
Held-to-maturity securities, Amortized Cost | 108,030 | 99,583 |
Held-to-maturity, at fair value | 107,629 | 99,155 |
Total investment securities: | ||
Held-to-maturity, at fair value | 107,629 | 99,155 |
Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 24,681 | 25,874 |
Gross unrealized gains | 43 | 54 |
Gross unrealized losses | (99) | (109) |
Fair value | 24,625 | 25,819 |
Held-to-maturity securities: | ||
Held-to-maturity securities, Amortized Cost | 44,697 | 44,690 |
Gross unrealized gains | 518 | 466 |
Gross unrealized losses | (61) | (77) |
Held-to-maturity, at fair value | 45,154 | 45,079 |
Total investment securities: | ||
Held-to-maturity, at fair value | 45,154 | 45,079 |
Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 52,747 | 52,121 |
Gross unrealized gains | 624 | 551 |
Gross unrealized losses | (1,310) | (1,571) |
Fair value | 52,061 | 51,101 |
Held-to-maturity securities: | ||
Held-to-maturity securities, Amortized Cost | 6,331 | 6,336 |
Gross unrealized gains | 28 | 17 |
Gross unrealized losses | (120) | (144) |
Held-to-maturity, at fair value | 6,239 | 6,209 |
Total investment securities: | ||
Held-to-maturity, at fair value | 6,239 | 6,209 |
Mortgage-backed securities: [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 172,839 | 179,363 |
Gross unrealized gains | 1,592 | 1,725 |
Gross unrealized losses | (3,232) | (3,540) |
Fair value | 171,199 | 177,548 |
Federal agencies [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 159,098 | 163,513 |
Gross unrealized gains | 1,042 | 1,175 |
Gross unrealized losses | (3,174) | (3,458) |
Fair value | 156,966 | 161,230 |
Held-to-maturity securities: | ||
Held-to-maturity securities, Amortized Cost | 53,778 | 45,161 |
Gross unrealized gains | 91 | 100 |
Gross unrealized losses | (870) | (804) |
Held-to-maturity, at fair value | 52,999 | 44,457 |
Total investment securities: | ||
Held-to-maturity, at fair value | 52,999 | 44,457 |
Residential [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 7,146 | 7,375 |
Gross unrealized gains | 457 | 449 |
Gross unrealized losses | (10) | (8) |
Fair value | 7,593 | 7,816 |
Commercial [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 6,595 | 8,475 |
Gross unrealized gains | 93 | 101 |
Gross unrealized losses | (48) | (74) |
Fair value | 6,640 | 8,502 |
Corporate debt securities [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 10,097 | 11,186 |
Gross unrealized gains | 418 | 381 |
Gross unrealized losses | (85) | (110) |
Fair value | 10,430 | 11,457 |
Collateralized loan and other debt obligations [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 33,686 | 34,764 |
Gross unrealized gains | 341 | 287 |
Gross unrealized losses | (18) | (31) |
Fair value | 34,009 | 35,020 |
Held-to-maturity securities: | ||
Held-to-maturity securities, Amortized Cost | 1,011 | 1,065 |
Gross unrealized gains | 5 | 6 |
Gross unrealized losses | 0 | (1) |
Held-to-maturity, at fair value | 1,016 | 1,070 |
Total investment securities: | ||
Held-to-maturity, at fair value | 1,016 | 1,070 |
Other [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 5,963 | 6,139 |
Gross unrealized gains | 139 | 104 |
Gross unrealized losses | (21) | (35) |
Fair value | 6,081 | 6,208 |
Held-to-maturity securities: | ||
Held-to-maturity securities, Amortized Cost | 2,213 | 2,331 |
Gross unrealized gains | 9 | 10 |
Gross unrealized losses | (1) | (1) |
Held-to-maturity, at fair value | 2,221 | 2,340 |
Total investment securities: | ||
Held-to-maturity, at fair value | 2,221 | 2,340 |
Total marketable equity securities [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 675 | 706 |
Gross unrealized gains | 457 | 516 |
Gross unrealized losses | (7) | (11) |
Fair value | 1,125 | 1,211 |
Perpetual preferred securities [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 467 | 445 |
Gross unrealized gains | 21 | 35 |
Gross unrealized losses | (6) | (11) |
Fair value | 482 | 469 |
Other marketable equity securities [Member] | ||
Available-for-sale securities: | ||
Amortized Cost | 208 | 261 |
Gross unrealized gains | 436 | 481 |
Gross unrealized losses | (1) | 0 |
Fair value | $ 643 | $ 742 |
Investment Securities, Gross Un
Investment Securities, Gross Unrealized Losses and Fair Value (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | $ (3,427) | $ (3,860) |
Less than 12 months, Fair value, available-for-sale | 142,816 | 154,806 |
12 months or more, Gross unrealized losses, available-for-sale | (1,345) | (1,547) |
12 months or more, Fair value, available-for-sale | 24,065 | 27,362 |
Total, Gross unrealized losses, available-for-sale | (4,772) | (5,407) |
Total, Fair value, available-for-sale | 166,881 | 182,168 |
Held-to-maturity securities: | ||
Less than 12 months, Gross unrealized losses, held-to-maturity | (1,051) | (1,025) |
Less than 12 months, Fair value, held-to-maturity | 58,048 | 51,317 |
12 months or more, Gross unrealized losses, held-to-maturity | (1) | (2) |
12 months or more, Fair value, held-to-maturity | 178 | 899 |
Total, Gross unrealized losses, held-to-maturity | (1,052) | (1,027) |
Total, Fair value, held-to-maturity | 58,226 | 52,216 |
Total investment securities: | ||
Less than 12 months, Gross unrealized losses, investment securities | (4,478) | (4,885) |
Less than 12 months, Fair value, investment securities | 200,864 | 206,123 |
12 months or more, Gross unrealized losses, investment securities | (1,346) | (1,549) |
12 months or more, Fair value, investment securities | 24,243 | 28,261 |
Total, Gross unrealized losses, investment securities | (5,824) | (6,434) |
Total, Fair value, investment securities | 225,107 | 234,384 |
Total debt securities [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (3,425) | (3,857) |
Less than 12 months, Fair value, available-for-sale | 142,750 | 154,765 |
12 months or more, Gross unrealized losses, available-for-sale | (1,340) | (1,539) |
12 months or more, Fair value, available-for-sale | 24,017 | 27,317 |
Total, Gross unrealized losses, available-for-sale | (4,765) | (5,396) |
Total, Fair value, available-for-sale | 166,767 | 182,082 |
Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (99) | (109) |
Less than 12 months, Fair value, available-for-sale | 11,090 | 10,816 |
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 | (99) | (109) |
Total, Fair value, available-for-sale | 11,090 | 10,816 |
Held-to-maturity securities: | ||
Less than 12 months, Gross unrealized losses, held-to-maturity | (61) | (77) |
Less than 12 months, Fair value, held-to-maturity | 4,772 | 6,351 |
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 | (61) | (77) |
Total, Fair value, held-to-maturity | 4,772 | 6,351 |
Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (210) | (341) |
Less than 12 months, Fair value, available-for-sale | 14,826 | 17,412 |
12 months or more, Gross unrealized losses, available-for-sale | (1,100) | (1,230) |
12 months or more, Fair value, available-for-sale | 16,070 | 16,213 |
Total, Gross unrealized losses, available-for-sale | (1,310) | (1,571) |
Total, Fair value, available-for-sale | 30,896 | 33,625 |
Held-to-maturity securities: | ||
Less than 12 months, Gross unrealized losses, held-to-maturity | (120) | (144) |
Less than 12 months, Fair value, held-to-maturity | 4,497 | 4,871 |
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 | (120) | (144) |
Total, Fair value, held-to-maturity | 4,497 | 4,871 |
Mortgage-backed securities: [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (3,101) | (3,385) |
Less than 12 months, Fair value, available-for-sale | 113,858 | 122,721 |
12 months or more, Gross unrealized losses, available-for-sale | (131) | (155) |
12 months or more, Fair value, available-for-sale | 4,682 | 5,416 |
Total, Gross unrealized losses, available-for-sale | (3,232) | (3,540) |
Total, Fair value, available-for-sale | 118,540 | 128,137 |
Federal agencies [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (3,066) | (3,338) |
Less than 12 months, Fair value, available-for-sale | 112,495 | 120,735 |
12 months or more, Gross unrealized losses, available-for-sale | (108) | (120) |
12 months or more, Fair value, available-for-sale | 3,358 | 3,481 |
Total, Gross unrealized losses, available-for-sale | (3,174) | (3,458) |
Total, Fair value, available-for-sale | 115,853 | 124,216 |
Held-to-maturity securities: | ||
Less than 12 months, Gross unrealized losses, held-to-maturity | (870) | (804) |
Less than 12 months, Fair value, held-to-maturity | 48,779 | 40,095 |
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 | (870) | (804) |
Total, Fair value, held-to-maturity | 48,779 | 40,095 |
Residential [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (5) | (4) |
Less than 12 months, Fair value, available-for-sale | 389 | 527 |
12 months or more, Gross unrealized losses, available-for-sale | (5) | (4) |
12 months or more, Fair value, available-for-sale | 240 | 245 |
Total, Gross unrealized losses, available-for-sale | (10) | (8) |
Total, Fair value, available-for-sale | 629 | 772 |
Commercial [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (30) | (43) |
Less than 12 months, Fair value, available-for-sale | 974 | 1,459 |
12 months or more, Gross unrealized losses, available-for-sale | (18) | (31) |
12 months or more, Fair value, available-for-sale | 1,084 | 1,690 |
Total, Gross unrealized losses, available-for-sale | (48) | (74) |
Total, Fair value, available-for-sale | 2,058 | 3,149 |
Corporate debt securities [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (7) | (11) |
Less than 12 months, Fair value, available-for-sale | 883 | 946 |
12 months or more, Gross unrealized losses, available-for-sale | (78) | (99) |
12 months or more, Fair value, available-for-sale | 878 | 1,229 |
Total, Gross unrealized losses, available-for-sale | (85) | (110) |
Total, Fair value, available-for-sale | 1,761 | 2,175 |
Collateralized loan and other debt obligations [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (2) | (2) |
Less than 12 months, Fair value, available-for-sale | 1,366 | 1,899 |
12 months or more, Gross unrealized losses, available-for-sale | (16) | (29) |
12 months or more, Fair value, available-for-sale | 1,399 | 3,197 |
Total, Gross unrealized losses, available-for-sale | (18) | (31) |
Total, Fair value, available-for-sale | 2,765 | 5,096 |
Held-to-maturity securities: | ||
Less than 12 months, Gross unrealized losses, held-to-maturity | 0 | 0 |
Less than 12 months, Fair value, held-to-maturity | 0 | 0 |
12 months or more, Gross unrealized losses, held-to-maturity | 0 | (1) |
12 months or more, Fair value, held-to-maturity | 0 | 266 |
Total, Gross unrealized losses, held-to-maturity | 0 | (1) |
Total, Fair value, held-to-maturity | 0 | 266 |
Other [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (6) | (9) |
Less than 12 months, Fair value, available-for-sale | 727 | 971 |
12 months or more, Gross unrealized losses, available-for-sale | (15) | (26) |
12 months or more, Fair value, available-for-sale | 988 | 1,262 |
Total, Gross unrealized losses, available-for-sale | (21) | (35) |
Total, Fair value, available-for-sale | 1,715 | 2,233 |
Held-to-maturity securities: | ||
Less than 12 months, Gross unrealized losses, held-to-maturity | 0 | 0 |
Less than 12 months, Fair value, held-to-maturity | 0 | 0 |
12 months or more, Gross unrealized losses, held-to-maturity | (1) | (1) |
12 months or more, Fair value, held-to-maturity | 178 | 633 |
Total, Gross unrealized losses, held-to-maturity | (1) | (1) |
Total, Fair value, held-to-maturity | 178 | 633 |
Total marketable equity securities [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (2) | (3) |
Less than 12 months, Fair value, available-for-sale | 66 | 41 |
12 months or more, Gross unrealized losses, available-for-sale | (5) | (8) |
12 months or more, Fair value, available-for-sale | 48 | 45 |
Total, Gross unrealized losses, available-for-sale | (7) | (11) |
Total, Fair value, available-for-sale | 114 | 86 |
Perpetual preferred securities [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (1) | (3) |
Less than 12 months, Fair value, available-for-sale | 61 | 41 |
12 months or more, Gross unrealized losses, available-for-sale | (5) | (8) |
12 months or more, Fair value, available-for-sale | 48 | 45 |
Total, Gross unrealized losses, available-for-sale | (6) | (11) |
Total, Fair value, available-for-sale | 109 | 86 |
Other marketable equity securities [Member] | ||
Available-for-sale securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (1) | 0 |
Less than 12 months, Fair value, available-for-sale | 5 | 0 |
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 | (1) | 0 |
Total, Fair value, available-for-sale | $ 5 | $ 0 |
Investment Securities, Unrealiz
Investment Securities, Unrealized Loss Position, by Credit Rating (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Available-for-sale securities: | ||
Gross unrealized losses | $ (4,772) | $ (5,407) |
Fair value | 299,530 | 308,364 |
Held-to-maturity securities: | ||
Gross unrealized losses | (1,052) | (1,027) |
Fair value | 107,629 | 99,155 |
Total investment securities: | ||
Gross unrealized losses | (5,824) | (6,434) |
Fair value | 407,159 | 407,519 |
Total debt securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (4,765) | (5,396) |
Fair value | 298,405 | 307,153 |
Held-to-maturity securities: | ||
Fair value | 107,629 | 99,155 |
Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (99) | (109) |
Fair value | 24,625 | 25,819 |
Held-to-maturity securities: | ||
Gross unrealized losses | (61) | (77) |
Fair value | 45,154 | 45,079 |
Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (1,310) | (1,571) |
Fair value | 52,061 | 51,101 |
Held-to-maturity securities: | ||
Gross unrealized losses | (120) | (144) |
Fair value | 6,239 | 6,209 |
Mortgage-backed securities: [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (3,232) | (3,540) |
Fair value | 171,199 | 177,548 |
Federal agencies [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (3,174) | (3,458) |
Fair value | 156,966 | 161,230 |
Held-to-maturity securities: | ||
Gross unrealized losses | (870) | (804) |
Fair value | 52,999 | 44,457 |
Residential [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (10) | (8) |
Fair value | 7,593 | 7,816 |
Commercial [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (48) | (74) |
Fair value | 6,640 | 8,502 |
Corporate debt securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (85) | (110) |
Fair value | 10,430 | 11,457 |
Collateralized loan and other debt obligations [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (18) | (31) |
Fair value | 34,009 | 35,020 |
Held-to-maturity securities: | ||
Gross unrealized losses | 0 | (1) |
Fair value | 1,016 | 1,070 |
Other [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (21) | (35) |
Fair value | 6,081 | 6,208 |
Held-to-maturity securities: | ||
Gross unrealized losses | (1) | (1) |
Fair value | 2,221 | 2,340 |
Total marketable equity securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (7) | (11) |
Fair value | 1,125 | 1,211 |
Perpetual preferred securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (6) | (11) |
Fair value | 482 | 469 |
Unrated Investment Grade Securities [Member] | ||
Total investment securities: | ||
Gross unrealized losses | (38) | (54) |
Fair value | 5,900 | 7,000 |
Investment grade [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (4,606) | (5,202) |
Fair value | 164,282 | 179,308 |
Held-to-maturity securities: | ||
Gross unrealized losses | (1,051) | (1,026) |
Fair value | 58,158 | 52,199 |
Total investment securities: | ||
Gross unrealized losses | (5,657) | (6,228) |
Fair value | 222,440 | 231,507 |
Investment grade [Member] | Total debt securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (4,601) | (5,192) |
Fair value | 164,192 | 179,240 |
Investment grade [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (99) | (109) |
Fair value | 11,090 | 10,816 |
Held-to-maturity securities: | ||
Gross unrealized losses | (61) | (77) |
Fair value | 4,772 | 6,351 |
Investment grade [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (1,262) | (1,517) |
Fair value | 30,538 | 33,271 |
Held-to-maturity securities: | ||
Gross unrealized losses | (120) | (144) |
Fair value | 4,497 | 4,871 |
Investment grade [Member] | Mortgage-backed securities: [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (3,183) | (3,474) |
Fair value | 117,520 | 126,977 |
Investment grade [Member] | Federal agencies [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (3,174) | (3,458) |
Fair value | 115,853 | 124,216 |
Held-to-maturity securities: | ||
Gross unrealized losses | (869) | (803) |
Fair value | 48,711 | 40,078 |
Investment grade [Member] | Residential [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (1) | (1) |
Fair value | 105 | 176 |
Investment grade [Member] | Commercial [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (8) | (15) |
Fair value | 1,562 | 2,585 |
Investment grade [Member] | Corporate debt securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (23) | (31) |
Fair value | 972 | 1,238 |
Investment grade [Member] | Collateralized loan and other debt obligations [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (18) | (31) |
Fair value | 2,765 | 5,096 |
Held-to-maturity securities: | ||
Gross unrealized losses | 0 | (1) |
Fair value | 0 | 266 |
Investment grade [Member] | Other [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (16) | (30) |
Fair value | 1,307 | 1,842 |
Held-to-maturity securities: | ||
Gross unrealized losses | (1) | (1) |
Fair value | 178 | 633 |
Investment grade [Member] | Perpetual preferred securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (5) | (10) |
Fair value | 90 | 68 |
Non-investment grade [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (165) | (205) |
Fair value | 2,594 | 2,860 |
Held-to-maturity securities: | ||
Gross unrealized losses | (1) | (1) |
Fair value | 68 | 17 |
Total investment securities: | ||
Gross unrealized losses | (166) | (206) |
Fair value | 2,662 | 2,877 |
Non-investment grade [Member] | Total debt securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (164) | (204) |
Fair value | 2,575 | 2,842 |
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 | (48) | (54) |
Fair value | 358 | 354 |
Held-to-maturity securities: | ||
Gross unrealized losses | 0 | 0 |
Fair value | 0 | 0 |
Non-investment grade [Member] | Mortgage-backed securities: [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (49) | (66) |
Fair value | 1,020 | 1,160 |
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 | (1) | (1) |
Fair value | 68 | 17 |
Non-investment grade [Member] | Residential [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (9) | (7) |
Fair value | 524 | 596 |
Non-investment grade [Member] | Commercial [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (40) | (59) |
Fair value | 496 | 564 |
Non-investment grade [Member] | Corporate debt securities [Member] | ||
Available-for-sale securities: | ||
Gross unrealized losses | (62) | (79) |
Fair value | 789 | 937 |
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 | (5) | (5) |
Fair value | 408 | 391 |
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 | (1) | (1) |
Fair value | $ 19 | $ 18 |
Investment Securities, Contract
Investment Securities, Contractual Maturities (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 298,405 | $ 307,153 |
Weighted average yield contractual maturities, Total, available-for-sale | 3.48% | 3.44% |
Due within 1 year, Contractual maturities, available-for-sale | $ 5,420 | $ 6,418 |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 2.11% | 1.93% |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 36,559 | $ 37,442 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 2.25% | 2.20% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 32,937 | $ 31,202 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 3.19% | 3.17% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 223,489 | $ 232,091 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 3.76% | 3.72% |
Held-to-maturity securities: | ||
Held-to-maturity securities, Amortized Cost | $ 108,030 | $ 99,583 |
Held-to-maturity securities, fair value: [Abstract] | ||
Contractual maturities, Total amount, held-to-maturity, fair value | 107,629 | 99,155 |
Total debt securities [Member] | ||
Held-to-maturity securities: | ||
Held-to-maturity securities, Amortized Cost | $ 108,030 | $ 99,583 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 2.88% | 2.87% |
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 | $ 33,900 | $ 33,663 |
Percentage of weighted average yield, Due In 1-5 years, held-to-maturity, cost | 2.04% | 2.04% |
Due in 5-10 years, Contractual maturities, held-to-maturity, cost | $ 14,515 | $ 14,883 |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 2.48% | 2.43% |
Due in 10 years or more, Contractual maturities, held-to-maturity, cost | $ 59,615 | $ 51,037 |
Percentage of weighted average yield, Due after 10 years, held-to-maturity, cost | 3.46% | 3.55% |
Held-to-maturity securities, fair value: [Abstract] | ||
Contractual maturities, Total amount, held-to-maturity, fair value | $ 107,629 | $ 99,155 |
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 | 34,278 | 34,025 |
Due in 5-10 years, Contractual maturities, held-to-maturity, fair value | 14,606 | 14,918 |
Due in 10 years or more, Contractual maturities, held-to-maturity, fair value | 58,745 | 50,212 |
Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 24,625 | $ 25,819 |
Weighted average yield contractual maturities, Total, available-for-sale | 1.45% | 1.44% |
Due within 1 year, Contractual maturities, available-for-sale | $ 1,322 | $ 1,328 |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 0.92% | 0.92% |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 22,288 | $ 23,477 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 1.46% | 1.45% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 1,015 | $ 1,014 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 1.80% | 1.80% |
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 | $ 44,697 | $ 44,690 |
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 | $ 32,311 | $ 31,956 |
Percentage of weighted average yield, Due In 1-5 years, held-to-maturity, cost | 2.04% | 2.05% |
Due in 5-10 years, Contractual maturities, held-to-maturity, cost | $ 12,386 | $ 12,734 |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 2.32% | 2.30% |
Due in 10 years or more, Contractual maturities, held-to-maturity, cost | $ 0 | $ 0 |
Percentage of weighted average yield, Due after 10 years, held-to-maturity, cost | 0.00% | 0.00% |
Held-to-maturity securities, fair value: [Abstract] | ||
Contractual maturities, Total amount, held-to-maturity, fair value | $ 45,154 | $ 45,079 |
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 | 32,686 | 32,313 |
Due in 5-10 years, Contractual maturities, held-to-maturity, fair value | 12,468 | 12,766 |
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 | $ 52,061 | $ 51,101 |
Weighted average yield contractual maturities, Total, available-for-sale | 5.68% | 5.65% |
Due within 1 year, Contractual maturities, available-for-sale | $ 2,590 | $ 2,990 |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 1.80% | 1.69% |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 9,990 | $ 9,299 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 2.86% | 2.74% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 2,597 | $ 2,391 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 4.65% | 4.71% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 36,884 | $ 36,421 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 6.78% | 6.78% |
Held-to-maturity securities: | ||
Held-to-maturity securities, Amortized Cost | $ 6,331 | $ 6,336 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 6.04% | 6.04% |
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 | $ 24 | $ 24 |
Percentage of weighted average yield, Due In 1-5 years, held-to-maturity, cost | 8.20% | 8.20% |
Due in 5-10 years, Contractual maturities, held-to-maturity, cost | $ 470 | $ 436 |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 6.72% | 6.76% |
Due in 10 years or more, Contractual maturities, held-to-maturity, cost | $ 5,837 | $ 5,876 |
Percentage of weighted average yield, Due after 10 years, held-to-maturity, cost | 5.98% | 5.98% |
Held-to-maturity securities, fair value: [Abstract] | ||
Contractual maturities, Total amount, held-to-maturity, fair value | $ 6,239 | $ 6,209 |
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 | 24 |
Due in 5-10 years, Contractual maturities, held-to-maturity, fair value | 469 | 430 |
Due in 10 years or more, Contractual maturities, held-to-maturity, fair value | 5,746 | 5,755 |
Mortgage-backed securities: [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 171,199 | $ 177,548 |
Weighted average yield contractual maturities, Total, available-for-sale | 3.20% | 3.19% |
Due within 1 year, Contractual maturities, available-for-sale | $ 1 | $ 0 |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 5.16% | 0.00% |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 133 | $ 153 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 3.54% | 3.34% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 5,618 | $ 5,428 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 3.08% | 3.16% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 165,447 | $ 171,967 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 3.20% | 3.19% |
Federal agencies [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 156,966 | $ 161,230 |
Weighted average yield contractual maturities, Total, available-for-sale | 3.11% | 3.09% |
Due within 1 year, Contractual maturities, available-for-sale | $ 1 | $ 0 |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 5.16% | 0.00% |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 107 | $ 128 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 3.07% | 2.98% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 5,564 | $ 5,363 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 3.08% | 3.16% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 151,294 | $ 155,739 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 3.11% | 3.09% |
Held-to-maturity securities: | ||
Held-to-maturity securities, Amortized Cost | $ 53,778 | $ 45,161 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 3.19% | 3.23% |
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 | $ 53,778 | $ 45,161 |
Percentage of weighted average yield, Due after 10 years, held-to-maturity, cost | 3.19% | 3.23% |
Held-to-maturity securities, fair value: [Abstract] | ||
Contractual maturities, Total amount, held-to-maturity, fair value | $ 52,999 | $ 44,457 |
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 | 52,999 | 44,457 |
Residential [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 7,593 | $ 7,816 |
Weighted average yield contractual maturities, Total, available-for-sale | 3.84% | 3.84% |
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 | $ 26 | $ 25 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 5.50% | 5.21% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 23 | $ 35 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 3.85% | 4.34% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 7,544 | $ 7,756 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 3.84% | 3.83% |
Commercial [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 6,640 | $ 8,502 |
Weighted average yield contractual maturities, Total, available-for-sale | 4.40% | 4.58% |
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 | $ 0 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 0.00% | 0.00% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 31 | $ 30 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 3.13% | 3.13% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 6,609 | $ 8,472 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 4.40% | 4.59% |
Corporate debt securities [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 10,430 | $ 11,457 |
Weighted average yield contractual maturities, Total, available-for-sale | 4.92% | 4.81% |
Due within 1 year, Contractual maturities, available-for-sale | $ 1,467 | $ 2,043 |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 3.70% | 2.90% |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 3,124 | $ 3,374 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 5.79% | 5.89% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 4,696 | $ 4,741 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 4.63% | 4.71% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 1,143 | $ 1,299 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 5.35% | 5.38% |
Collateralized loan and other debt obligations [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 34,009 | $ 35,020 |
Weighted average yield contractual maturities, Total, available-for-sale | 2.81% | 2.70% |
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 | $ 153 | $ 168 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 1.84% | 1.34% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 17,841 | $ 16,482 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 2.77% | 2.66% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 16,015 | $ 18,370 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 2.86% | 2.74% |
Held-to-maturity securities: | ||
Held-to-maturity securities, Amortized Cost | $ 1,011 | $ 1,065 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 2.66% | 2.58% |
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 | $ 1,011 | $ 1,065 |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 2.66% | 2.58% |
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 | $ 1,016 | $ 1,070 |
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 | 1,016 | 1,070 |
Due in 10 years or more, Contractual maturities, held-to-maturity, fair value | 0 | 0 |
Other [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 6,081 | $ 6,208 |
Weighted average yield contractual maturities, Total, available-for-sale | 2.37% | 2.18% |
Due within 1 year, Contractual maturities, available-for-sale | $ 40 | $ 57 |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 3.21% | 3.06% |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 871 | $ 971 |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 2.41% | 2.35% |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 1,170 | $ 1,146 |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 2.24% | 2.04% |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 4,000 | $ 4,034 |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 2.39% | 2.17% |
Held-to-maturity securities: | ||
Held-to-maturity securities, Amortized Cost | $ 2,213 | $ 2,331 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 2.00% | 1.83% |
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 | $ 1,565 | $ 1,683 |
Percentage of weighted average yield, Due In 1-5 years, held-to-maturity, cost | 1.95% | 1.81% |
Due in 5-10 years, Contractual maturities, held-to-maturity, cost | $ 648 | $ 648 |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 2.13% | 1.89% |
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 | $ 2,221 | $ 2,340 |
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 | 1,568 | 1,688 |
Due in 5-10 years, Contractual maturities, held-to-maturity, fair value | 653 | 652 |
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 | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Marketable Securities, Realized Gain (Loss) [Abstract] | ||
Gross realized gains | $ 241 | $ 385 |
Gross realized losses | (36) | (13) |
OTTI write-downs | (53) | (69) |
Net realized gains from available-for-sale securities | 152 | 303 |
Net realized gains from nonmarketable equity investments | 287 | 185 |
Net realized gains from debt securities and equity investments | $ 439 | $ 488 |
Investment Securities, OTTI Inc
Investment Securities, OTTI Included in Earnings (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
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) | 53 | 69 |
Nonmarketable equity investments (1) | 76 | 129 |
Total OTTI write-downs included in earnings (1) | 129 | 198 |
Total debt securities [Member] | ||
OTTI write-downs included in earnings (Abstract) | ||
Total investment securities (1) | 52 | 65 |
Securities of U.S. states and political subdivisions [Member] | ||
OTTI write-downs included in earnings (Abstract) | ||
Total investment securities (1) | 8 | 4 |
Residential [Member] | ||
OTTI write-downs included in earnings (Abstract) | ||
Total investment securities (1) | 3 | 12 |
Commercial [Member] | ||
OTTI write-downs included in earnings (Abstract) | ||
Total investment securities (1) | 25 | 1 |
Corporate debt securities [Member] | ||
OTTI write-downs included in earnings (Abstract) | ||
Total investment securities (1) | 16 | 45 |
Other [Member] | ||
OTTI write-downs included in earnings (Abstract) | ||
Total investment securities (1) | 0 | 3 |
Total marketable equity securities [Member] | ||
OTTI write-downs included in earnings (Abstract) | ||
Total investment securities (1) | 1 | 4 |
Other marketable equity securities [Member] | ||
OTTI write-downs included in earnings (Abstract) | ||
Total investment securities (1) | 1 | 4 |
Energy [Domain] | ||
OTTI write-downs included in earnings (Abstract) | ||
Total investment securities (1) | 15 | 46 |
Nonmarketable equity investments (1) | 24 | 78 |
Total OTTI write-downs included in earnings (1) | $ 39 | $ 124 |
Investment Securities, OTTI Deb
Investment Securities, OTTI Debt Securities (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
OTTI on debt securities (Abstract) | ||
Total recorded as part of gross realized losses | $ 53 | $ 69 |
Cost And Equity Method, Other Than Temporary Impairment | 76 | 129 |
Other Than Temporary Impairment Investments Portion Recognized In Earnings Net | 129 | 198 |
Total debt securities [Member] | ||
OTTI on debt securities (Abstract) | ||
Total recorded as part of gross realized losses | 52 | 65 |
Total changes to OCI for non-credit-related OTTI | (9) | 11 |
Total OTTI losses recorded on debt securities | 43 | 76 |
Total debt securities [Member] | Credit-related OTTI [Member] | ||
OTTI on debt securities (Abstract) | ||
Total recorded as part of gross realized losses | 52 | 61 |
Total debt securities [Member] | Intent-to-sell OTTI [Member] | ||
OTTI on debt securities (Abstract) | ||
Total recorded as part of gross realized losses | 0 | 4 |
Securities of U.S. states and political subdivisions [Member] | ||
OTTI on debt securities (Abstract) | ||
Total recorded as part of gross realized losses | 8 | 4 |
Total changes to OCI for non-credit-related OTTI | (5) | 0 |
Residential [Member] | ||
OTTI on debt securities (Abstract) | ||
Total recorded as part of gross realized losses | 3 | 12 |
Total changes to OCI for non-credit-related OTTI | 3 | 10 |
Commercial Mortgage Backed Securities [Member] | ||
OTTI on debt securities (Abstract) | ||
Total recorded as part of gross realized losses | 25 | 1 |
Total changes to OCI for non-credit-related OTTI | (7) | 3 |
Corporate debt securities [Member] | ||
OTTI on debt securities (Abstract) | ||
Total recorded as part of gross realized losses | 16 | 45 |
Total changes to OCI for non-credit-related OTTI | 0 | (4) |
Other debt securities | ||
OTTI on debt securities (Abstract) | ||
Total recorded as part of gross realized losses | 0 | 3 |
Total changes to OCI for non-credit-related OTTI | 0 | 2 |
Equity Securities, Other 1 [Member] | ||
OTTI on debt securities (Abstract) | ||
Total recorded as part of gross realized losses | 1 | 4 |
Equity Securities [Member] | ||
OTTI on debt securities (Abstract) | ||
Total recorded as part of gross realized losses | $ 1 | $ 4 |
Investment Securities, Credit L
Investment Securities, Credit Loss Component (Details) - Total debt securities [Member] - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||
Credit loss recognized, beginning of period | $ 1,043 | $ 1,092 |
Additions: | ||
For securities with initial credit impairments | 6 | 38 |
For securities with previous credit impairments | 46 | 23 |
Total additions | 52 | 61 |
Reductions: | ||
For securities sold, matured, or intended/required to be sold | (7) | (6) |
For recoveries of previous credit impairments | (2) | (2) |
Total reductions | (9) | (8) |
Credit loss recognized, end of period | $ 1,086 | $ 1,145 |
Loans and Allowance for Credi58
Loans and Allowance for Credit Losses, Loans Outstanding (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable, Temporary Advance Arrangements | $ 76,000 | $ 77,000 | |
Loans and Leases Receivable, Deferred Income | 4,300 | 4,400 | |
Loans | [1] | 958,405 | 967,604 |
Total Commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 505,004 | 506,536 | |
Commercial and Industrial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 329,252 | 330,840 | |
Commercial real estate mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 131,532 | 132,491 | |
Commercial Real Estate Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 25,064 | 23,916 | |
Commercial Lease Financing Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 19,156 | 19,289 | |
Total Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 453,401 | 461,068 | |
Real estate 1-4 family first mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 274,633 | 275,579 | |
Real estate 1-4 family junior lien mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 44,333 | 46,237 | |
Credit Card [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 34,742 | 36,700 | |
Automobile [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 60,408 | 62,286 | |
Other revolving credit and installment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 39,285 | 40,266 | |
Geographic Distribution, Foreign [Member] | Total Commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 66,650 | 65,284 | |
Geographic Distribution, Foreign [Member] | Commercial and Industrial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 56,987 | 55,396 | |
Geographic Distribution, Foreign [Member] | Commercial real estate mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 8,206 | 8,541 | |
Geographic Distribution, Foreign [Member] | Commercial Real Estate Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 471 | 375 | |
Geographic Distribution, Foreign [Member] | Commercial Lease Financing Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 986 | 972 | |
International [Member] | Total Commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Letters of Credit Outstanding, Amount | $ 1,100 | $ 1,100 | |
[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 | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Loans and Allowance for Credit Losses, Significant Activity [Abstract] | ||
Purchases | $ 1,161 | $ 24,646 |
Sales | (349) | (495) |
Transfers to MHFS/LHFS | (479) | (35) |
Commercial Portfolio Segment [Member] | ||
Loans and Allowance for Credit Losses, Significant Activity [Abstract] | ||
Purchases | 1,159 | 24,646 |
Sales | (287) | (223) |
Transfers to MHFS/LHFS | (479) | (32) |
Consumer Portfolio Segment [Member] | ||
Loans and Allowance for Credit Losses, Significant Activity [Abstract] | ||
Purchases | 2 | 0 |
Sales | (62) | (272) |
Transfers to MHFS/LHFS | $ 0 | $ (3) |
Loans and Allowance for Credi60
Loans and Allowance for Credit Losses, Commitments to Lend (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Temporary Advance Arrangements | $ 76,000 | $ 77,000 |
Total unfunded credit commitments | 549,155 | 551,524 |
Commercial and Industrial Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 316,794 | 319,662 |
Commercial real estate mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 7,448 | 7,833 |
Commercial Real Estate Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 17,794 | 18,840 |
Commercial Lease Financing Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 11 | 16 |
Total Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 342,047 | 346,351 |
Total Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 207,108 | 205,173 |
Real estate 1-4 family first mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 33,594 | 33,498 |
Real estate 1-4 family junior lien mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 41,070 | 41,431 |
Credit Card [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 104,630 | 101,895 |
Other revolving credit and installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 27,814 | 28,349 |
International [Member] | Total Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial Letters of Credit International | $ 1,100 | $ 1,100 |
Loans and Allowance for Credi61
Loans and Allowance for Credit Losses, Allowance for Credit Losses (Details) - USD ($) $ in Millions | 3 Months Ended | ||||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Allowance for credit losses, beginning balance | $ 12,540 | $ 12,512 | |||
Provision for credit losses | 605 | 1,086 | |||
Interest income on certain impaired loans | (48) | (48) | |||
Loan charge-offs | (1,238) | (1,326) | |||
Loan recoveries | 433 | 440 | |||
Net loan charge-offs | (805) | (886) | |||
Other | (5) | 4 | |||
Allowance for credit losses, ending balance | 12,287 | 12,668 | |||
Components: | |||||
Allowance for loan losses | $ 11,168 | $ 11,419 | $ 11,621 | ||
Allowance for unfunded credit commitments | 1,119 | 1,047 | |||
Total allowance for credit losses | $ 12,540 | $ 12,512 | $ 12,287 | 12,540 | $ 12,668 |
Net loan charge-offs (annualized) as a percentage of average total loans | 0.34% | 0.38% | |||
Allowance for loan losses as a percentage of total loans | 1.17% | 1.23% | |||
Allowance for credit losses as a percentage of total loans | 1.28% | 1.34% | |||
Total Commercial [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Allowance for credit losses, beginning balance | $ 7,394 | $ 6,872 | |||
Provision for credit losses | (89) | 714 | |||
Interest income on certain impaired loans | (15) | (5) | |||
Loan charge-offs | (265) | (356) | |||
Loan recoveries | 122 | 119 | |||
Net loan charge-offs | (143) | (237) | |||
Other | (5) | 4 | |||
Allowance for credit losses, ending balance | 7,142 | 7,348 | |||
Components: | |||||
Total allowance for credit losses | 7,394 | 6,872 | $ 7,142 | 7,394 | $ 7,348 |
Commercial and Industrial Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Loan charge-offs | (253) | (349) | |||
Loan recoveries | 82 | 76 | |||
Commercial real estate mortgage [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Loan charge-offs | (5) | (3) | |||
Loan recoveries | 30 | 32 | |||
Commercial Real Estate Construction [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Loan charge-offs | 0 | 0 | |||
Loan recoveries | 8 | 8 | |||
Commercial Lease Financing Receivable [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Loan charge-offs | (7) | (4) | |||
Loan recoveries | 2 | 3 | |||
Total Consumer [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Allowance for credit losses, beginning balance | 5,146 | 5,640 | |||
Provision for credit losses | 694 | 372 | |||
Interest income on certain impaired loans | (33) | (43) | |||
Loan charge-offs | (973) | (970) | |||
Loan recoveries | 311 | 321 | |||
Net loan charge-offs | (662) | (649) | |||
Other | 0 | 0 | |||
Allowance for credit losses, ending balance | 5,145 | 5,320 | |||
Components: | |||||
Total allowance for credit losses | 5,146 | 5,640 | $ 5,145 | $ 5,146 | $ 5,320 |
Real estate 1-4 family first mortgage [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Loan charge-offs | (69) | (137) | |||
Loan recoveries | 62 | 89 | |||
Real estate 1-4 family junior lien mortgage [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Loan charge-offs | (93) | (133) | |||
Loan recoveries | 70 | 59 | |||
Credit Card [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Loan charge-offs | (367) | (314) | |||
Loan recoveries | 58 | 52 | |||
Automobile [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Loan charge-offs | (255) | (211) | |||
Loan recoveries | 88 | 84 | |||
Other revolving credit and installment [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Loan charge-offs | (189) | (175) | |||
Loan recoveries | $ 33 | $ 37 |
Loans and Allowance for Credi62
Loans and Allowance for Credit Losses, Allowance Activity by Portfolio Segment (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Allowance for credit losses, beginning balance | $ 12,540 | $ 12,512 |
Provision for credit losses | 605 | 1,086 |
Interest income on certain impaired loans | (48) | (48) |
Loan charge-offs | (1,238) | (1,326) |
Loan recoveries | 433 | 440 |
Net loan charge-offs | (805) | (886) |
Other | (5) | 4 |
Allowance for credit losses, ending balance | 12,287 | 12,668 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Allowance for credit losses, beginning balance | 7,394 | 6,872 |
Provision for credit losses | (89) | 714 |
Interest income on certain impaired loans | (15) | (5) |
Loan charge-offs | (265) | (356) |
Loan recoveries | 122 | 119 |
Net loan charge-offs | (143) | (237) |
Other | (5) | 4 |
Allowance for credit losses, ending balance | 7,142 | 7,348 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Allowance for credit losses, beginning balance | 5,146 | 5,640 |
Provision for credit losses | 694 | 372 |
Interest income on certain impaired loans | (33) | (43) |
Loan charge-offs | (973) | (970) |
Loan recoveries | 311 | 321 |
Net loan charge-offs | (662) | (649) |
Other | 0 | 0 |
Allowance for credit losses, ending balance | $ 5,145 | $ 5,320 |
Loans and Allowance for Credi63
Loans and Allowance for Credit Losses, Allowance by Credit Impairment Methodology (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | |
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | |||||
Allowance for Credit Losses, Collectively evaluated | $ 9,972 | $ 9,945 | |||
Allowance for Credit Losses, Individually evaluated | 2,313 | 2,593 | |||
Total allowance for credit losses | 12,287 | 12,540 | $ 12,668 | $ 12,512 | |
Financing Receivable, Collectively evaluated | 921,184 | 928,496 | |||
Financing Receivable, Individually evaluated | 21,551 | 22,377 | |||
Loans | [1] | 958,405 | 967,604 | ||
Commercial Portfolio Segment [Member] | |||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | |||||
Allowance for Credit Losses, Collectively evaluated | 6,281 | 6,392 | |||
Allowance for Credit Losses, Individually evaluated | 859 | 1,000 | |||
Total allowance for credit losses | 7,142 | 7,394 | 7,348 | 6,872 | |
Financing Receivable, Collectively evaluated | 499,565 | 500,487 | |||
Financing Receivable, Individually evaluated | 5,076 | 5,372 | |||
Loans | 505,004 | 506,536 | |||
Consumer Portfolio Segment [Member] | |||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | |||||
Allowance for Credit Losses, Collectively evaluated | 3,691 | 3,553 | |||
Allowance for Credit Losses, Individually evaluated | 1,454 | 1,593 | |||
Total allowance for credit losses | 5,145 | 5,146 | $ 5,320 | $ 5,640 | |
Financing Receivable, Collectively evaluated | 421,619 | 428,009 | |||
Financing Receivable, Individually evaluated | 16,475 | 17,005 | |||
Loans | 453,401 | 461,068 | |||
PCI Loans Carrying Value [Member] | |||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | |||||
Financing Receivable, Recorded Investment, Current | 15,670 | 16,731 | |||
PCI Loans Carrying Value [Member] | Commercial Portfolio Segment [Member] | |||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | |||||
Financing Receivable, Recorded Investment, Current | 363 | 677 | |||
PCI Loans Carrying Value [Member] | Consumer Portfolio Segment [Member] | |||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | |||||
Financing Receivable, Recorded Investment, Current | 15,307 | 16,054 | |||
Allowance for Doubtful Accounts [Member] | |||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | |||||
Total allowance for credit losses | 2 | 2 | |||
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 | 2 | |||
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 | Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2008 | |
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | [1] | $ 958,405 | $ 967,604 | |
Total Commercial [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 505,004 | 506,536 | ||
Commercial and Industrial Loans [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 329,252 | 330,840 | ||
Commercial real estate mortgage [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 131,532 | 132,491 | ||
Commercial Real Estate Construction [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 25,064 | 23,916 | ||
Commercial Lease Financing Receivable [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 19,156 | 19,289 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 9,759 | 10,384 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial Real Estate Mortgage and Construction Loans [Member] | Criticized [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 5,700 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 712 | |||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Commercial [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 504,641 | 505,859 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 3,706 | 4,059 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Commercial [Member] | Pass [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 477,198 | 476,266 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Commercial [Member] | Criticized [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 27,443 | 29,593 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial and Industrial Loans [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 329,075 | 330,603 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,898 | 3,216 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial and Industrial Loans [Member] | Pass [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 308,652 | 308,166 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial and Industrial Loans [Member] | Criticized [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 20,423 | 22,437 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,898 | |||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial real estate mortgage [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 131,368 | 132,108 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 672 | 685 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial real estate mortgage [Member] | Pass [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 126,215 | 126,793 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial real estate mortgage [Member] | Criticized [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 5,153 | 5,315 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial Real Estate Construction [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 25,042 | 23,859 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 40 | 43 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial Real Estate Construction [Member] | Pass [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 24,450 | 23,408 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial Real Estate Construction [Member] | Criticized [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 592 | 451 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial Lease Financing Receivable [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 19,156 | 19,289 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 96 | 115 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial Lease Financing Receivable [Member] | Pass [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 17,881 | 17,899 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial Lease Financing Receivable [Member] | Criticized [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
Loans | 1,275 | 1,390 | ||
PCI Loans Carrying Value [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
PCI loans | 15,670 | 16,731 | ||
PCI Loans Carrying Value [Member] | Total Commercial [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
PCI loans | 363 | 677 | $ 18,700 | |
PCI Loans Carrying Value [Member] | Commercial and Industrial Loans [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
PCI loans | 177 | 237 | ||
PCI Loans Carrying Value [Member] | Commercial real estate mortgage [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
PCI loans | 164 | 383 | ||
PCI Loans Carrying Value [Member] | Commercial Real Estate Construction [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
PCI loans | 22 | 57 | ||
PCI Loans Carrying Value [Member] | Commercial Lease Financing Receivable [Member] | ||||
Loans and Leases Receivable Disclosure [Abstract] | ||||
PCI loans | $ 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 | Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2008 | |
By delinquency status: | ||||
Loans | [1] | $ 958,405 | $ 967,604 | |
Total Commercial [Member] | ||||
By delinquency status: | ||||
Loans | 505,004 | 506,536 | ||
Commercial and Industrial Loans [Member] | ||||
By delinquency status: | ||||
Loans | 329,252 | 330,840 | ||
Commercial real estate mortgage [Member] | ||||
By delinquency status: | ||||
Loans | 131,532 | 132,491 | ||
Commercial Real Estate Construction [Member] | ||||
By delinquency status: | ||||
Loans | 25,064 | 23,916 | ||
Commercial Lease Financing Receivable [Member] | ||||
By delinquency status: | ||||
Loans | 19,156 | 19,289 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | ||||
By delinquency status: | ||||
Over 90 DPD and still accruing | 10,525 | 11,858 | ||
Nonaccrual loans | 9,759 | 10,384 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Commercial [Member] | ||||
By delinquency status: | ||||
Loans | 504,641 | 505,859 | ||
Over 90 DPD and still accruing | 102 | 64 | ||
Nonaccrual loans | 3,706 | 4,059 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial and Industrial Loans [Member] | ||||
By delinquency status: | ||||
Loans | 329,075 | 330,603 | ||
Over 90 DPD and still accruing | 88 | 28 | ||
Nonaccrual loans | 2,898 | 3,216 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial real estate mortgage [Member] | ||||
By delinquency status: | ||||
Loans | 131,368 | 132,108 | ||
Over 90 DPD and still accruing | 11 | 36 | ||
Nonaccrual loans | 672 | 685 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial Real Estate Construction [Member] | ||||
By delinquency status: | ||||
Loans | 25,042 | 23,859 | ||
Over 90 DPD and still accruing | 3 | 0 | ||
Nonaccrual loans | 40 | 43 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial Lease Financing Receivable [Member] | ||||
By delinquency status: | ||||
Loans | 19,156 | 19,289 | ||
Over 90 DPD and still accruing | 0 | 0 | ||
Nonaccrual loans | 96 | 115 | ||
PCI Loans Carrying Value [Member] | ||||
By delinquency status: | ||||
PCI loans | 15,670 | 16,731 | ||
PCI Loans Carrying Value [Member] | Total Commercial [Member] | ||||
By delinquency status: | ||||
PCI loans | 363 | 677 | $ 18,700 | |
PCI Loans Carrying Value [Member] | Commercial and Industrial Loans [Member] | ||||
By delinquency status: | ||||
PCI loans | 177 | 237 | ||
PCI Loans Carrying Value [Member] | Commercial real estate mortgage [Member] | ||||
By delinquency status: | ||||
PCI loans | 164 | 383 | ||
PCI Loans Carrying Value [Member] | Commercial Real Estate Construction [Member] | ||||
By delinquency status: | ||||
PCI loans | 22 | 57 | ||
PCI Loans Carrying Value [Member] | Commercial Lease Financing Receivable [Member] | ||||
By delinquency status: | ||||
PCI loans | 0 | 0 | ||
Pass [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Commercial [Member] | ||||
By delinquency status: | ||||
Loans | 477,198 | 476,266 | ||
Pass [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial and Industrial Loans [Member] | ||||
By delinquency status: | ||||
Loans | 308,652 | 308,166 | ||
Pass [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial real estate mortgage [Member] | ||||
By delinquency status: | ||||
Loans | 126,215 | 126,793 | ||
Pass [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial Real Estate Construction [Member] | ||||
By delinquency status: | ||||
Loans | 24,450 | 23,408 | ||
Pass [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial Lease Financing Receivable [Member] | ||||
By delinquency status: | ||||
Loans | 17,881 | 17,899 | ||
Criticized [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Commercial [Member] | ||||
By delinquency status: | ||||
Loans | 27,443 | 29,593 | ||
Criticized [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial and Industrial Loans [Member] | ||||
By delinquency status: | ||||
Loans | 20,423 | 22,437 | ||
Nonaccrual loans | 2,898 | |||
Criticized [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial real estate mortgage [Member] | ||||
By delinquency status: | ||||
Loans | 5,153 | 5,315 | ||
Criticized [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial Real Estate Construction [Member] | ||||
By delinquency status: | ||||
Loans | 592 | 451 | ||
Criticized [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial Lease Financing Receivable [Member] | ||||
By delinquency status: | ||||
Loans | 1,275 | 1,390 | ||
Current-29 days past due (DPD) and still accruing [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Commercial [Member] | ||||
By delinquency status: | ||||
Loans | 499,482 | 500,748 | ||
Current-29 days past due (DPD) and still accruing [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial and Industrial Loans [Member] | ||||
By delinquency status: | ||||
Loans | 325,001 | 326,765 | ||
Current-29 days past due (DPD) and still accruing [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial real estate mortgage [Member] | ||||
By delinquency status: | ||||
Loans | 130,566 | 131,165 | ||
Current-29 days past due (DPD) and still accruing [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial Real Estate Construction [Member] | ||||
By delinquency status: | ||||
Loans | 24,969 | 23,776 | ||
Current-29 days past due (DPD) and still accruing [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial Lease Financing Receivable [Member] | ||||
By delinquency status: | ||||
Loans | 18,946 | 19,042 | ||
30-89 days past due and still accruing [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Commercial [Member] | ||||
By delinquency status: | ||||
Loans | 1,351 | 988 | ||
30-89 days past due and still accruing [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial and Industrial Loans [Member] | ||||
By delinquency status: | ||||
Loans | 1,088 | 594 | ||
30-89 days past due and still accruing [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial real estate mortgage [Member] | ||||
By delinquency status: | ||||
Loans | 119 | 222 | ||
30-89 days past due and still accruing [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial Real Estate Construction [Member] | ||||
By delinquency status: | ||||
Loans | 30 | 40 | ||
30-89 days past due and still accruing [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Commercial Lease Financing Receivable [Member] | ||||
By delinquency status: | ||||
Loans | $ 114 | $ 132 | ||
[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 | Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2008 | |
By delinquency status: | ||||
Loans | [1] | $ 958,405 | $ 967,604 | |
Total Consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
90 days or more past due and still accruing | 838 | 908 | ||
By delinquency status: | ||||
Loans | $ 453,401 | $ 461,068 | ||
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 | 0.60% | 0.60% | ||
Loans | $ 274,633 | $ 275,579 | ||
Real estate 1-4 family junior lien mortgage [Member] | ||||
By delinquency status: | ||||
Loans | 44,333 | 46,237 | ||
Credit Card [Member] | ||||
By delinquency status: | ||||
Loans | 34,742 | 36,700 | ||
Automobile [Member] | ||||
By delinquency status: | ||||
Loans | 60,408 | 62,286 | ||
Other revolving credit and installment [Member] | ||||
By delinquency status: | ||||
Loans | 39,285 | 40,266 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
90 days or more past due and still accruing | 10,525 | 11,858 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | 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 | 9,585 | 10,883 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Consumer [Member] | ||||
By delinquency status: | ||||
Loans | 438,094 | 445,014 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By delinquency status: | ||||
Loans | 259,360 | 259,561 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By delinquency status: | ||||
Loans | 44,299 | 46,201 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Credit Card [Member] | ||||
By delinquency status: | ||||
Loans | 34,742 | 36,700 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Automobile [Member] | ||||
By delinquency status: | ||||
Loans | 60,408 | 62,286 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Other revolving credit and installment [Member] | ||||
By delinquency status: | ||||
Loans | 39,285 | 40,266 | ||
PCI Loans Carrying Value [Member] | ||||
By delinquency status: | ||||
PCI loans | 15,670 | 16,731 | ||
PCI Loans Carrying Value [Member] | Total Consumer [Member] | ||||
By delinquency status: | ||||
PCI loans | 15,307 | 16,054 | $ 40,100 | |
PCI Loans Carrying Value [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By delinquency status: | ||||
PCI loans | 15,273 | 16,018 | ||
PCI Loans Carrying Value [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By delinquency status: | ||||
PCI loans | 34 | 36 | ||
PCI Loans Carrying Value [Member] | Credit Card [Member] | ||||
By delinquency status: | ||||
PCI loans | 0 | 0 | ||
PCI Loans Carrying Value [Member] | Automobile [Member] | ||||
By delinquency status: | ||||
PCI loans | 0 | 0 | ||
PCI Loans Carrying Value [Member] | Other revolving credit and installment [Member] | ||||
By delinquency status: | ||||
PCI loans | 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: | ||||
Loans | 9,200 | 10,100 | ||
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 | 3,200 | 3,500 | ||
Current-29 days past due (DPD) [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Consumer [Member] | ||||
By delinquency status: | ||||
Loans | 415,747 | 420,477 | ||
Current-29 days past due (DPD) [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By delinquency status: | ||||
Loans | 240,508 | 239,061 | ||
Current-29 days past due (DPD) [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By delinquency status: | ||||
Loans | 43,422 | 45,238 | ||
Current-29 days past due (DPD) [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Credit Card [Member] | ||||
By delinquency status: | ||||
Loans | 33,868 | 35,773 | ||
Current-29 days past due (DPD) [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Automobile [Member] | ||||
By delinquency status: | ||||
Loans | 59,064 | 60,572 | ||
Current-29 days past due (DPD) [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Other revolving credit and installment [Member] | ||||
By delinquency status: | ||||
Loans | 38,885 | 39,833 | ||
30-59 DPD [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Consumer [Member] | ||||
By delinquency status: | ||||
Loans | 3,297 | 3,914 | ||
30-59 DPD [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By delinquency status: | ||||
Loans | 1,612 | 1,904 | ||
30-59 DPD [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By delinquency status: | ||||
Loans | 286 | 296 | ||
30-59 DPD [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Credit Card [Member] | ||||
By delinquency status: | ||||
Loans | 238 | 275 | ||
30-59 DPD [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Automobile [Member] | ||||
By delinquency status: | ||||
Loans | 1,007 | 1,262 | ||
30-59 DPD [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Other revolving credit and installment [Member] | ||||
By delinquency status: | ||||
Loans | 154 | 177 | ||
60 to 89 Days Past Due [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Consumer [Member] | ||||
By delinquency status: | ||||
Loans | 1,293 | 1,501 | ||
60 to 89 Days Past Due [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By delinquency status: | ||||
Loans | 635 | 700 | ||
60 to 89 Days Past Due [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By delinquency status: | ||||
Loans | 137 | 160 | ||
60 to 89 Days Past Due [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Credit Card [Member] | ||||
By delinquency status: | ||||
Loans | 183 | 200 | ||
60 to 89 Days Past Due [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Automobile [Member] | ||||
By delinquency status: | ||||
Loans | 243 | 330 | ||
60 to 89 Days Past Due [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Other revolving credit and installment [Member] | ||||
By delinquency status: | ||||
Loans | 95 | 111 | ||
90-119 Days Past Due [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Consumer [Member] | ||||
By delinquency status: | ||||
Loans | 669 | 787 | ||
90-119 Days Past Due [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By delinquency status: | ||||
Loans | 253 | 307 | ||
90-119 Days Past Due [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By delinquency status: | ||||
Loans | 80 | 102 | ||
90-119 Days Past Due [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Credit Card [Member] | ||||
By delinquency status: | ||||
Loans | 160 | 169 | ||
90-119 Days Past Due [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Automobile [Member] | ||||
By delinquency status: | ||||
Loans | 87 | 116 | ||
90-119 Days Past Due [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Other revolving credit and installment [Member] | ||||
By delinquency status: | ||||
Loans | 89 | 93 | ||
120-179 DPD member [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Consumer [Member] | ||||
By delinquency status: | ||||
Loans | 719 | 745 | ||
120-179 DPD member [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By delinquency status: | ||||
Loans | 289 | 323 | ||
120-179 DPD member [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By delinquency status: | ||||
Loans | 99 | 108 | ||
120-179 DPD member [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Credit Card [Member] | ||||
By delinquency status: | ||||
Loans | 292 | 279 | ||
120-179 DPD member [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Automobile [Member] | ||||
By delinquency status: | ||||
Loans | 6 | 5 | ||
120-179 DPD member [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Other revolving credit and installment [Member] | ||||
By delinquency status: | ||||
Loans | 33 | 30 | ||
180 plus DPD [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Consumer [Member] | ||||
By delinquency status: | ||||
Loans | 1,840 | 1,985 | ||
180 plus DPD [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By delinquency status: | ||||
Loans | 1,534 | 1,661 | ||
180 plus DPD [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By delinquency status: | ||||
Loans | 275 | 297 | ||
180 plus DPD [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Credit Card [Member] | ||||
By delinquency status: | ||||
Loans | 1 | 4 | ||
180 plus DPD [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Automobile [Member] | ||||
By delinquency status: | ||||
Loans | 1 | 1 | ||
180 plus DPD [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Other revolving credit and installment [Member] | ||||
By delinquency status: | ||||
Loans | 29 | 22 | ||
Government Insured or Guaranteed [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Consumer [Member] | ||||
By delinquency status: | ||||
Loans | 14,529 | 15,605 | ||
Government Insured or Guaranteed [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By delinquency status: | ||||
Loans | 14,529 | 15,605 | ||
Government Insured or Guaranteed [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By delinquency status: | ||||
Loans | 0 | 0 | ||
Government Insured or Guaranteed [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Credit Card [Member] | ||||
By delinquency status: | ||||
Loans | 0 | 0 | ||
Government Insured or Guaranteed [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Automobile [Member] | ||||
By delinquency status: | ||||
Loans | 0 | 0 | ||
Government Insured or Guaranteed [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Other revolving credit and installment [Member] | ||||
By delinquency status: | ||||
Loans | $ 0 | $ 0 | ||
[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 | Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2008 | |
By FICO: | ||||
Loans | [1] | $ 958,405 | $ 967,604 | |
Total Consumer [Member] | ||||
By FICO: | ||||
Loans | 453,401 | 461,068 | ||
90 days or more past due and still accruing | 838 | 908 | ||
Real estate 1-4 family first mortgage [Member] | ||||
By FICO: | ||||
Loans | 274,633 | 275,579 | ||
Real estate 1-4 family junior lien mortgage [Member] | ||||
By FICO: | ||||
Loans | 44,333 | 46,237 | ||
Credit Card [Member] | ||||
By FICO: | ||||
Loans | 34,742 | 36,700 | ||
Automobile [Member] | ||||
By FICO: | ||||
Loans | 60,408 | 62,286 | ||
Other revolving credit and installment [Member] | ||||
By FICO: | ||||
Loans | 39,285 | 40,266 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | ||||
By FICO: | ||||
90 days or more past due and still accruing | 10,525 | 11,858 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Consumer [Member] | ||||
By FICO: | ||||
Loans | 438,094 | 445,014 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By FICO: | ||||
Loans | 259,360 | 259,561 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By FICO: | ||||
Loans | 44,299 | 46,201 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Credit Card [Member] | ||||
By FICO: | ||||
Loans | 34,742 | 36,700 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Automobile [Member] | ||||
By FICO: | ||||
Loans | 60,408 | 62,286 | ||
Loans Excluding Purchased Credit-Impaired Loans [Member] | Other revolving credit and installment [Member] | ||||
By FICO: | ||||
Loans | 39,285 | 40,266 | ||
PCI Loans Carrying Value [Member] | ||||
By FICO: | ||||
PCI loans | 15,670 | 16,731 | ||
PCI Loans Carrying Value [Member] | Total Consumer [Member] | ||||
By FICO: | ||||
PCI loans | 15,307 | 16,054 | $ 40,100 | |
PCI Loans Carrying Value [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By FICO: | ||||
PCI loans | 15,273 | 16,018 | ||
PCI Loans Carrying Value [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By FICO: | ||||
PCI loans | 34 | 36 | ||
PCI Loans Carrying Value [Member] | Credit Card [Member] | ||||
By FICO: | ||||
PCI loans | 0 | 0 | ||
PCI Loans Carrying Value [Member] | Automobile [Member] | ||||
By FICO: | ||||
PCI loans | 0 | 0 | ||
PCI Loans Carrying Value [Member] | Other revolving credit and installment [Member] | ||||
By FICO: | ||||
PCI loans | 0 | 0 | ||
FICO less than 600 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Consumer [Member] | ||||
By FICO: | ||||
Loans | 22,588 | 23,696 | ||
FICO less than 600 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By FICO: | ||||
Loans | 6,260 | 6,720 | ||
FICO less than 600 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By FICO: | ||||
Loans | 2,123 | 2,591 | ||
FICO less than 600 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Credit Card [Member] | ||||
By FICO: | ||||
Loans | 3,352 | 3,475 | ||
FICO less than 600 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Automobile [Member] | ||||
By FICO: | ||||
Loans | 9,906 | 9,934 | ||
FICO less than 600 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Other revolving credit and installment [Member] | ||||
By FICO: | ||||
Loans | 947 | 976 | ||
FICO 600-639 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Consumer [Member] | ||||
By FICO: | ||||
Loans | 16,102 | 18,187 | ||
FICO 600-639 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By FICO: | ||||
Loans | 4,256 | 5,400 | ||
FICO 600-639 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By FICO: | ||||
Loans | 1,501 | 1,917 | ||
FICO 600-639 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Credit Card [Member] | ||||
By FICO: | ||||
Loans | 2,943 | 3,109 | ||
FICO 600-639 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Automobile [Member] | ||||
By FICO: | ||||
Loans | 6,393 | 6,705 | ||
FICO 600-639 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Other revolving credit and installment [Member] | ||||
By FICO: | ||||
Loans | 1,009 | 1,056 | ||
FICO 640-679 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Consumer [Member] | ||||
By FICO: | ||||
Loans | 28,307 | 32,937 | ||
FICO 640-679 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By FICO: | ||||
Loans | 8,081 | 10,975 | ||
FICO 640-679 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By FICO: | ||||
Loans | 2,934 | 3,747 | ||
FICO 640-679 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Credit Card [Member] | ||||
By FICO: | ||||
Loans | 5,371 | 5,678 | ||
FICO 640-679 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Automobile [Member] | ||||
By FICO: | ||||
Loans | 9,763 | 10,204 | ||
FICO 640-679 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Other revolving credit and installment [Member] | ||||
By FICO: | ||||
Loans | 2,158 | 2,333 | ||
FICO 680-719 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Consumer [Member] | ||||
By FICO: | ||||
Loans | 43,971 | 52,649 | ||
FICO 680-719 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By FICO: | ||||
Loans | 16,503 | 23,300 | ||
FICO 680-719 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By FICO: | ||||
Loans | 5,663 | 6,432 | ||
FICO 680-719 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Credit Card [Member] | ||||
By FICO: | ||||
Loans | 7,080 | 7,382 | ||
FICO 680-719 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Automobile [Member] | ||||
By FICO: | ||||
Loans | 10,826 | 11,233 | ||
FICO 680-719 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Other revolving credit and installment [Member] | ||||
By FICO: | ||||
Loans | 3,899 | 4,302 | ||
FICO 720-759 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Consumer [Member] | ||||
By FICO: | ||||
Loans | 56,627 | 70,515 | ||
FICO 720-759 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By FICO: | ||||
Loans | 28,250 | 38,832 | ||
FICO 720-759 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By FICO: | ||||
Loans | 7,106 | 9,413 | ||
FICO 720-759 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Credit Card [Member] | ||||
By FICO: | ||||
Loans | 7,339 | 7,632 | ||
FICO 720-759 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Automobile [Member] | ||||
By FICO: | ||||
Loans | 8,525 | 8,769 | ||
FICO 720-759 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Other revolving credit and installment [Member] | ||||
By FICO: | ||||
Loans | 5,407 | 5,869 | ||
FICO 760-799 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Consumer [Member] | ||||
By FICO: | ||||
Loans | 80,188 | 141,240 | ||
FICO 760-799 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By FICO: | ||||
Loans | 51,813 | 103,608 | ||
FICO 760-799 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By FICO: | ||||
Loans | 7,993 | 14,929 | ||
FICO 760-799 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Credit Card [Member] | ||||
By FICO: | ||||
Loans | 5,823 | 6,191 | ||
FICO 760-799 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Automobile [Member] | ||||
By FICO: | ||||
Loans | 7,945 | 8,164 | ||
FICO 760-799 [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Other revolving credit and installment [Member] | ||||
By FICO: | ||||
Loans | 6,614 | 8,348 | ||
FICO 800 or more [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Consumer [Member] | ||||
By FICO: | ||||
Loans | 158,965 | 72,057 | ||
FICO 800 or more [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By FICO: | ||||
Loans | 124,534 | 49,508 | ||
FICO 800 or more [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By FICO: | ||||
Loans | 16,237 | 6,391 | ||
FICO 800 or more [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Credit Card [Member] | ||||
By FICO: | ||||
Loans | 2,792 | 2,868 | ||
FICO 800 or more [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Automobile [Member] | ||||
By FICO: | ||||
Loans | 6,720 | 6,856 | ||
FICO 800 or more [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Other revolving credit and installment [Member] | ||||
By FICO: | ||||
Loans | 8,682 | 6,434 | ||
No FICO available [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Consumer [Member] | ||||
By FICO: | ||||
Loans | 8,891 | 10,086 | ||
No FICO available [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By FICO: | ||||
Loans | 5,134 | 5,613 | ||
No FICO available [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By FICO: | ||||
Loans | 742 | 781 | ||
No FICO available [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Credit Card [Member] | ||||
By FICO: | ||||
Loans | 42 | 365 | ||
No FICO available [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Automobile [Member] | ||||
By FICO: | ||||
Loans | 330 | 421 | ||
No FICO available [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Other revolving credit and installment [Member] | ||||
By FICO: | ||||
Loans | 2,643 | 2,906 | ||
FICO not required [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Consumer [Member] | ||||
By FICO: | ||||
Loans | 7,926 | 8,042 | ||
FICO not required [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By FICO: | ||||
Loans | 0 | 0 | ||
FICO not required [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By FICO: | ||||
Loans | 0 | 0 | ||
FICO not required [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Credit Card [Member] | ||||
By FICO: | ||||
Loans | 0 | 0 | ||
FICO not required [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Automobile [Member] | ||||
By FICO: | ||||
Loans | 0 | 0 | ||
FICO not required [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Other revolving credit and installment [Member] | ||||
By FICO: | ||||
Loans | 7,926 | 8,042 | ||
Government Insured or Guaranteed [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Total Consumer [Member] | ||||
By FICO: | ||||
Loans | 14,529 | 15,605 | ||
Government Insured or Guaranteed [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family first mortgage [Member] | ||||
By FICO: | ||||
Loans | 14,529 | 15,605 | ||
Government Insured or Guaranteed [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||||
By FICO: | ||||
Loans | 0 | 0 | ||
Government Insured or Guaranteed [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Credit Card [Member] | ||||
By FICO: | ||||
Loans | 0 | 0 | ||
Government Insured or Guaranteed [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Automobile [Member] | ||||
By FICO: | ||||
Loans | 0 | 0 | ||
Government Insured or Guaranteed [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | Other revolving credit and installment [Member] | ||||
By FICO: | ||||
Loans | $ 0 | $ 0 | ||
[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 | Mar. 31, 2017 | Dec. 31, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
High Value Properties, Threshold | $ 1 | ||
By LTV/CLTV: | |||
Loans | [1] | 958,405 | $ 967,604 |
Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
Nonaccrual loans | 9,759 | 10,384 | |
Residential Mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 318,966 | 321,816 | |
Residential Mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
Loans | 303,659 | 305,762 | |
Real estate 1-4 family first mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 274,633 | 275,579 | |
Real estate 1-4 family first mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
Loans | 259,360 | 259,561 | |
Nonaccrual loans | 4,743 | 4,962 | |
Real estate 1-4 family junior lien mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 44,333 | 46,237 | |
Real estate 1-4 family junior lien mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
Loans | 44,299 | 46,201 | |
Nonaccrual loans | 1,153 | 1,206 | |
PCI Loans Carrying Value [Member] | |||
By LTV/CLTV: | |||
PCI loans | 15,670 | 16,731 | |
PCI Loans Carrying Value [Member] | Real estate 1-4 family first mortgage [Member] | |||
By LTV/CLTV: | |||
PCI loans | 15,273 | 16,018 | |
PCI Loans Carrying Value [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By LTV/CLTV: | |||
PCI loans | 34 | 36 | |
PCI Loans Carrying Value [Member] | Residential Mortgage [Member] | |||
By LTV/CLTV: | |||
PCI loans | 15,307 | 16,054 | |
LTV 0-60% [Member] | Residential Mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
Loans | 137,677 | 137,894 | |
LTV 0-60% [Member] | Real estate 1-4 family first mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
Loans | 121,653 | 121,430 | |
LTV 0-60% [Member] | Real estate 1-4 family junior lien mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
Loans | 16,024 | 16,464 | |
LTV 60.01-80% [Member] | Residential Mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
Loans | 116,607 | 116,988 | |
LTV 60.01-80% [Member] | Real estate 1-4 family first mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
Loans | 101,956 | 101,726 | |
LTV 60.01-80% [Member] | Real estate 1-4 family junior lien mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
Loans | 14,651 | 15,262 | |
LTV 80.01-100% [Member] | Residential Mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
Loans | 24,818 | 24,560 | |
LTV 80.01-100% [Member] | Real estate 1-4 family first mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
Loans | 16,506 | 15,795 | |
LTV 80.01-100% [Member] | Real estate 1-4 family junior lien mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
Loans | 8,312 | 8,765 | |
LTV 100.01-120% [Member] | Residential Mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
Loans | 5,798 | 6,233 | |
LTV 100.01-120% [Member] | Real estate 1-4 family first mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
Loans | 2,459 | 2,644 | |
LTV 100.01-120% [Member] | Real estate 1-4 family junior lien mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
Loans | 3,339 | 3,589 | |
LTV greater than 120% [Member] | Residential Mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
Loans | 2,507 | 2,679 | |
LTV greater than 120% [Member] | Real estate 1-4 family first mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
Loans | 1,025 | 1,066 | |
LTV greater than 120% [Member] | Real estate 1-4 family junior lien mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
Loans | 1,482 | 1,613 | |
No LTV/CLTV available [Member] | Residential Mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
Loans | 1,723 | 1,803 | |
No LTV/CLTV available [Member] | Real estate 1-4 family first mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
Loans | 1,232 | 1,295 | |
No LTV/CLTV available [Member] | Real estate 1-4 family junior lien mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
Loans | 491 | 508 | |
Government Insured Or Guaranteed [Member] | Residential Mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
Loans | 14,529 | 15,605 | |
Government Insured Or Guaranteed [Member] | Real estate 1-4 family first mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
Loans | 14,529 | 15,605 | |
Government Insured Or Guaranteed [Member] | Real estate 1-4 family junior lien mortgage [Member] | Loans Excluding Purchased Credit-Impaired Loans [Member] | |||
By LTV/CLTV: | |||
Loans | $ 0 | $ 0 | |
[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 | Mar. 31, 2017 | Dec. 31, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | [1] | $ 958,405 | $ 967,604 |
Total Commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 505,004 | 506,536 | |
Commercial and Industrial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 329,252 | 330,840 | |
Commercial real estate mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 131,532 | 132,491 | |
Commercial Real Estate Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 25,064 | 23,916 | |
Commercial Lease Financing Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 19,156 | 19,289 | |
Total Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 453,401 | 461,068 | |
Real estate 1-4 family first mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 274,633 | 275,579 | |
Real estate 1-4 family junior lien mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 44,333 | 46,237 | |
Automobile [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 60,408 | 62,286 | |
Other revolving credit and installment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 39,285 | 40,266 | |
Residential Real Estate [Member] | |||
Nonaccrual Loans [Abstract] | |||
Mortgage Loans in Process of Foreclosure, Amount | 7,800 | 8,100 | |
Government Guaranteed Mortgage Loans upon Foreclosure Receivable [Member] | |||
Nonaccrual Loans [Abstract] | |||
Mortgage Loans in Process of Foreclosure, Amount | 4,700 | 4,800 | |
Mortgages held for sale [Member] | Real estate 1-4 family first mortgage [Member] | |||
Nonaccrual Loans [Abstract] | |||
Nonaccrual loans | 145 | 149 | |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | |||
Nonaccrual Loans [Abstract] | |||
Nonaccrual loans | 9,759 | 10,384 | |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | Total Commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 504,641 | 505,859 | |
Nonaccrual Loans [Abstract] | |||
Nonaccrual loans | 3,706 | 4,059 | |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | Commercial and Industrial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 329,075 | 330,603 | |
Nonaccrual Loans [Abstract] | |||
Nonaccrual loans | 2,898 | 3,216 | |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | Commercial real estate mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 131,368 | 132,108 | |
Nonaccrual Loans [Abstract] | |||
Nonaccrual loans | 672 | 685 | |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | Commercial Real Estate Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 25,042 | 23,859 | |
Nonaccrual Loans [Abstract] | |||
Nonaccrual loans | 40 | 43 | |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | Commercial Lease Financing Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 19,156 | 19,289 | |
Nonaccrual Loans [Abstract] | |||
Nonaccrual loans | 96 | 115 | |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | Total Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 438,094 | 445,014 | |
Nonaccrual Loans [Abstract] | |||
Nonaccrual loans | 6,053 | 6,325 | |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | Real estate 1-4 family first mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 259,360 | 259,561 | |
Nonaccrual Loans [Abstract] | |||
Nonaccrual loans | 4,743 | 4,962 | |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 44,299 | 46,201 | |
Nonaccrual Loans [Abstract] | |||
Nonaccrual loans | 1,153 | 1,206 | |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | Automobile [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 60,408 | 62,286 | |
Nonaccrual Loans [Abstract] | |||
Nonaccrual loans | 101 | 106 | |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | Other revolving credit and installment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 39,285 | 40,266 | |
Nonaccrual Loans [Abstract] | |||
Nonaccrual loans | 56 | 51 | |
Criticized [Member] | Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | Total Commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 27,443 | 29,593 | |
Criticized [Member] | Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | Commercial and Industrial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 20,423 | 22,437 | |
Nonaccrual Loans [Abstract] | |||
Nonaccrual loans | 2,898 | ||
Criticized [Member] | Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | Commercial real estate mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 5,153 | 5,315 | |
Criticized [Member] | Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | Commercial Real Estate Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 592 | 451 | |
Criticized [Member] | Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | Commercial Lease Financing Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 1,275 | $ 1,390 | |
[1] | Parenthetical amounts represent assets and liabilities for which we have elected the fair value option. |
Loans and Allowance for Credi70
Loans and Allowance for Credit Losses, 90 Days or More Past Due and Still Accruing (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Total Consumer [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | $ 838 | $ 908 |
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 | 1,800 | 2,000 |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 10,525 | 11,858 |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | FHA Insured/VA Guaranteed [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 9,585 | 10,883 |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | 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 | 0 | 3 |
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 | 102 | 64 |
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 | 88 | 28 |
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 | 11 | 36 |
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 | 3 | 0 |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | 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 | 940 | 972 |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | 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 | 102 | 64 |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | 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 | 88 | 28 |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | 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 | 11 | 36 |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | 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 | 3 | 0 |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | 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 | 838 | 908 |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | 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 | 149 | 175 |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | 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 | 42 | 56 |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | 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 | 453 | 452 |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | 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 | 79 | 112 |
Loans Excluding Certain Loans Acquired In Transfer With Evidence Of Credit Deterioration [Member] | 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 | $ 115 | $ 113 |
Loans and Allowance for Credi71
Loans and Allowance for Credit Losses, Impaired Loans (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Impaired Loans [Abstract] | ||
Unpaid principal balance | $ 25,639 | $ 26,547 |
Impaired loans | 21,551 | 22,377 |
Impaired loans with related allowance for credit losses | 15,865 | 16,604 |
Related allowance for credit losses | 2,313 | 2,593 |
Loans and Leases Receivable, Impaired, Commitment to Lend | 630 | 403 |
Trial modifications [Member] | ||
Impaired Loans [Abstract] | ||
Impaired loans | 261 | 299 |
Consumer Real Estate Loans Government Guaranteed Or Insured [Member] | ||
Impaired Loans [Abstract] | ||
Impaired loans | 1,500 | 1,500 |
Total Commercial [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 6,838 | 7,148 |
Impaired loans | 5,076 | 5,372 |
Impaired loans with related allowance for credit losses | 4,726 | 5,026 |
Related allowance for credit losses | 859 | 1,000 |
Commercial and Industrial Loans [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 4,833 | 5,058 |
Impaired loans | 3,508 | 3,742 |
Impaired loans with related allowance for credit losses | 3,158 | 3,418 |
Related allowance for credit losses | 571 | 675 |
Commercial real estate mortgage [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 1,722 | 1,777 |
Impaired loans | 1,393 | 1,418 |
Impaired loans with related allowance for credit losses | 1,393 | 1,396 |
Related allowance for credit losses | 236 | 280 |
Commercial Real Estate Construction [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 134 | 167 |
Impaired loans | 73 | 93 |
Impaired loans with related allowance for credit losses | 73 | 93 |
Related allowance for credit losses | 14 | 22 |
Commercial Lease Financing Receivable [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 149 | 146 |
Impaired loans | 102 | 119 |
Impaired loans with related allowance for credit losses | 102 | 119 |
Related allowance for credit losses | 38 | 23 |
Total Consumer [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 18,801 | 19,399 |
Impaired loans | 16,475 | 17,005 |
Impaired loans with related allowance for credit losses | 11,139 | 11,578 |
Related allowance for credit losses | 1,454 | 1,593 |
Real estate 1-4 family first mortgage [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 15,891 | 16,438 |
Impaired loans | 13,872 | 14,362 |
Impaired loans with related allowance for credit losses | 9,075 | 9,475 |
Related allowance for credit losses | 996 | 1,117 |
Real estate 1-4 family junior lien mortgage [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 2,339 | 2,399 |
Impaired loans | 2,106 | 2,156 |
Impaired loans with related allowance for credit losses | 1,628 | 1,681 |
Related allowance for credit losses | 326 | 350 |
Credit Card [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 308 | 300 |
Impaired loans | 308 | 300 |
Impaired loans with related allowance for credit losses | 308 | 300 |
Related allowance for credit losses | 107 | 104 |
Automobile [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 146 | 153 |
Impaired loans | 80 | 85 |
Impaired loans with related allowance for credit losses | 29 | 31 |
Related allowance for credit losses | 7 | 5 |
Other revolving credit and installment [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 117 | 109 |
Impaired loans | 109 | 102 |
Impaired loans with related allowance for credit losses | 99 | 91 |
Related allowance for credit losses | $ 18 | $ 17 |
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 | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||
Average recorded investment | $ 22,026 | $ 24,516 |
Recognized interest income | 295 | 321 |
Interest income: | ||
Cash basis of accounting | 78 | 95 |
Other | 217 | 226 |
Total Commercial [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||
Average recorded investment | 5,272 | 4,743 |
Recognized interest income | 61 | 53 |
Commercial and Industrial Loans [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||
Average recorded investment | 3,675 | 2,766 |
Recognized interest income | 33 | 19 |
Commercial real estate mortgage [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||
Average recorded investment | 1,394 | 1,772 |
Recognized interest income | 27 | 32 |
Commercial Real Estate Construction [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||
Average recorded investment | 84 | 130 |
Recognized interest income | 1 | 2 |
Commercial Lease Financing Receivable [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||
Average recorded investment | 119 | 75 |
Recognized interest income | 0 | 0 |
Total Consumer [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||
Average recorded investment | 16,754 | 19,773 |
Recognized interest income | 234 | 268 |
Real estate 1-4 family first mortgage [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||
Average recorded investment | 14,132 | 16,911 |
Recognized interest income | 190 | 221 |
Real estate 1-4 family junior lien mortgage [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||
Average recorded investment | 2,131 | 2,382 |
Recognized interest income | 31 | 34 |
Credit Card [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||
Average recorded investment | 302 | 297 |
Recognized interest income | 8 | 9 |
Automobile [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||
Average recorded investment | 83 | 101 |
Recognized interest income | 3 | 3 |
Other revolving credit and installment [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||
Average recorded investment | 106 | 82 |
Recognized interest income | $ 2 | $ 1 |
Loans and Allowance for Credi73
Loans and Allowance for Credit Losses, Troubled Debt Restructurings Modifications by Type (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Financing Receivable, Modifications [Line Items] | |||
Net loans | $ 947,237 | $ 956,185 | |
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 1,699 | $ 1,745 | |
Financial effects of modifications | |||
Charge-offs | $ 87 | $ 138 | |
Weighted average interest rate reduction | 5.27% | 3.88% | |
Commercial Portfolio Segment [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,135 | $ 983 | |
Financial effects of modifications | |||
Charge-offs | $ 65 | $ 106 | |
Weighted average interest rate reduction | 0.95% | 1.71% | |
Consumer Portfolio Segment [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 564 | $ 762 | |
Financial effects of modifications | |||
Charge-offs | $ 22 | $ 32 | |
Weighted average interest rate reduction | 5.72% | 4.94% | |
Commercial and Industrial Loans [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 934 | $ 752 | |
Financial effects of modifications | |||
Charge-offs | $ 65 | $ 106 | |
Weighted average interest rate reduction | 0.82% | 1.89% | |
Commercial real estate mortgage [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 195 | $ 183 | |
Financial effects of modifications | |||
Charge-offs | $ 0 | $ 0 | |
Weighted average interest rate reduction | 1.00% | 1.13% | |
Commercial Real Estate Construction [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 3 | $ 44 | |
Financial effects of modifications | |||
Charge-offs | $ 0 | $ 0 | |
Weighted average interest rate reduction | 2.00% | 0.00% | |
Commercial Lease Financing Receivable [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 3 | $ 4 | |
Financial effects of modifications | |||
Charge-offs | $ 0 | $ 0 | |
Weighted average interest rate reduction | 0.00% | 0.00% | |
Real estate 1-4 family first mortgage [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 437 | $ 611 | |
Financial effects of modifications | |||
Charge-offs | $ 9 | $ 13 | |
Weighted average interest rate reduction | 2.60% | 2.81% | |
Real estate 1-4 family junior lien mortgage [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 57 | $ 62 | |
Financial effects of modifications | |||
Charge-offs | $ 6 | $ 10 | |
Weighted average interest rate reduction | 2.95% | 2.92% | |
Credit Card [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 57 | $ 44 | |
Financial effects of modifications | |||
Charge-offs | $ 0 | $ 0 | |
Weighted average interest rate reduction | 12.22% | 11.94% | |
Automobile [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 16 | $ 19 | |
Financial effects of modifications | |||
Charge-offs | $ 7 | $ 8 | |
Weighted average interest rate reduction | 6.42% | 6.54% | |
Other revolving credit and installment [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 14 | $ 11 | |
Financial effects of modifications | |||
Charge-offs | $ 0 | $ 1 | |
Weighted average interest rate reduction | 7.29% | 6.10% | |
Trial modifications [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ (17) | $ 15 | |
Financial effects of modifications | |||
Charge-offs | $ 0 | $ 0 | |
Weighted average interest rate reduction | 0.00% | 0.00% | |
Modification to principal [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 88 | $ 144 | |
Modification to principal [Member] | Commercial Portfolio Segment [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 42 | |
Modification to principal [Member] | Consumer Portfolio Segment [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 88 | 102 | |
Modification to principal [Member] | Commercial and Industrial Loans [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 42 | |
Modification to principal [Member] | Commercial real estate mortgage [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | |
Modification to principal [Member] | Commercial Real Estate Construction [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | |
Modification to principal [Member] | Commercial Lease Financing Receivable [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | |
Modification to principal [Member] | Real estate 1-4 family first mortgage [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 74 | 96 | |
Modification to principal [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 13 | 6 | |
Modification to principal [Member] | Credit Card [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | |
Modification to principal [Member] | Automobile [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 1 | 0 | |
Modification to principal [Member] | Other revolving credit and installment [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | |
Modification to principal [Member] | Trial modifications [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | |
Contractual Interest Rate Reduction [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 184 | 252 | |
Contractual Interest Rate Reduction [Member] | Commercial Portfolio Segment [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 20 | 102 | |
Contractual Interest Rate Reduction [Member] | Consumer Portfolio Segment [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 164 | 150 | |
Contractual Interest Rate Reduction [Member] | Commercial and Industrial Loans [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 6 | 78 | |
Contractual Interest Rate Reduction [Member] | Commercial real estate mortgage [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 14 | 24 | |
Contractual Interest Rate Reduction [Member] | Commercial Real Estate Construction [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | |
Contractual Interest Rate Reduction [Member] | Commercial Lease Financing Receivable [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | |
Contractual Interest Rate Reduction [Member] | Real estate 1-4 family first mortgage [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 72 | 65 | |
Contractual Interest Rate Reduction [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 21 | 29 | |
Contractual Interest Rate Reduction [Member] | Credit Card [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 57 | 44 | |
Contractual Interest Rate Reduction [Member] | Automobile [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 3 | 4 | |
Contractual Interest Rate Reduction [Member] | Other revolving credit and installment [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 11 | 8 | |
Contractual Interest Rate Reduction [Member] | Trial modifications [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | |
Modifications, other concessions [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 1,427 | 1,349 | |
Modifications, other concessions [Member] | Commercial Portfolio Segment [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 1,115 | 839 | |
Modifications, other concessions [Member] | Consumer Portfolio Segment [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 312 | 510 | |
Modifications, other concessions [Member] | Commercial and Industrial Loans [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 928 | 632 | |
Modifications, other concessions [Member] | Commercial real estate mortgage [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 181 | 159 | |
Modifications, other concessions [Member] | Commercial Real Estate Construction [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 3 | 44 | |
Modifications, other concessions [Member] | Commercial Lease Financing Receivable [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 3 | 4 | |
Modifications, other concessions [Member] | Real estate 1-4 family first mortgage [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 291 | 450 | |
Modifications, other concessions [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 23 | 27 | |
Modifications, other concessions [Member] | Credit Card [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | |
Modifications, other concessions [Member] | Automobile [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 12 | 15 | |
Modifications, other concessions [Member] | Other revolving credit and installment [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 3 | 3 | |
Modifications, other concessions [Member] | Trial modifications [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | (17) | 15 | |
Modification of recorded investment related to interest rate reduction [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 218 | 311 | |
Modification of recorded investment related to interest rate reduction [Member] | Commercial Portfolio Segment [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 20 | 102 | |
Modification of recorded investment related to interest rate reduction [Member] | Consumer Portfolio Segment [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 198 | 209 | |
Modification of recorded investment related to interest rate reduction [Member] | Commercial and Industrial Loans [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 6 | 78 | |
Modification of recorded investment related to interest rate reduction [Member] | Commercial real estate mortgage [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 14 | 24 | |
Modification of recorded investment related to interest rate reduction [Member] | Commercial Real Estate Construction [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | |
Modification of recorded investment related to interest rate reduction [Member] | Commercial Lease Financing Receivable [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | |
Modification of recorded investment related to interest rate reduction [Member] | Real estate 1-4 family first mortgage [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 103 | 119 | |
Modification of recorded investment related to interest rate reduction [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 24 | 34 | |
Modification of recorded investment related to interest rate reduction [Member] | Credit Card [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 57 | 44 | |
Modification of recorded investment related to interest rate reduction [Member] | Automobile [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 3 | 4 | |
Modification of recorded investment related to interest rate reduction [Member] | Other revolving credit and installment [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 11 | 8 | |
Modification of recorded investment related to interest rate reduction [Member] | Trial modifications [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | |
Troubled Debt Restructuring Outstanding Balance [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Net loans | 20,100 | $ 20,800 | |
Loans remodified [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 657 | 348 | |
Principal Forgiveness [Member] | |||
Primary modification type | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 9 | $ 19 |
Loans and Allowance for Credi74
Loans and Allowance for Credit Losses, Troubled Debt Restructurings, Current Defaults (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Financing Receivable, Modifications [Line Items] | ||
Recorded investment of defaults | $ 131 | $ 100 |
Commercial and Industrial Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Recorded investment of defaults | 62 | 25 |
Commercial real estate mortgage [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Recorded investment of defaults | 21 | 20 |
Commercial Real Estate Construction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Recorded investment of defaults | 0 | 2 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Recorded investment of defaults | 83 | 47 |
Real estate 1-4 family first mortgage [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Recorded investment of defaults | 25 | 31 |
Real estate 1-4 family junior lien mortgage [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Recorded investment of defaults | 4 | 5 |
Credit Card [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Recorded investment of defaults | 15 | 13 |
Automobile [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Recorded investment of defaults | 3 | 3 |
Other revolving credit and installment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Recorded investment of defaults | 1 | 1 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Recorded investment of defaults | $ 48 | $ 53 |
Loans and Allowance for Credi75
Loans and Allowance for Credit Losses, PCI Loans Outstanding (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2008 |
PCI Loans UPB [Member] | |||
PCI loans [Abstract] | |||
Total PCI loans (unpaid principal balance) | $ 22,855 | $ 24,136 | $ 98,200 |
PCI Loans UPB [Member] | Real estate 1-4 family first mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI loans | 19,977 | 20,803 | |
PCI Loans UPB [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI loans | 184 | 192 | |
PCI Loans Carrying Value [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI loans | 15,670 | 16,731 | |
PCI Loans Carrying Value [Member] | Commercial Real Estate Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI loans | 22 | 57 | |
PCI Loans Carrying Value [Member] | Commercial Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI loans | 363 | 677 | 18,700 |
PCI Loans Carrying Value [Member] | Commercial and Industrial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI loans | 177 | 237 | |
PCI Loans Carrying Value [Member] | Real estate 1-4 family first mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI loans | 15,273 | 16,018 | |
PCI Loans Carrying Value [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI loans | 34 | 36 | |
PCI Loans Carrying Value [Member] | Commercial real estate mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI loans | 164 | 383 | |
PCI Loans Carrying Value [Member] | Consumer Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
PCI loans | $ 15,307 | $ 16,054 | $ 40,100 |
Loans and Allowance for Credi76
Loans and Allowance for Credit Losses, PCI, Accretable Yield (Details) - USD ($) $ in Millions | 3 Months Ended | 96 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Change in accretable yield related to PCI loans [Abstract] | ||
Total, beginning of period | $ 11,216 | $ 10,447 |
Change in accretable yield due to acquisitions | 2 | 159 |
Accretion into interest income | (357) | (15,577) |
Accretion into noninterest income due to sales | (25) | (467) |
Reclassification from nonaccretable difference for loans with improving credit-related cash flows | 406 | 10,955 |
Changes in expected cash flows that do not affect nonaccretable difference | (927) | 5,699 |
Total, end of period | $ 10,315 | $ 11,216 |
Loans and Allowance for Credi77
Loans and Allowance for Credit Losses, PCI, by Credit Quality Indicator (Details) - Receivables Acquired with Deteriorated Credit Quality [Member] - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Total Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
PCI loans | $ 363 | $ 677 |
Commercial and Industrial Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
PCI loans | 177 | 237 |
Commercial real estate mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
PCI loans | 164 | 383 |
Commercial Real Estate Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
PCI loans | 22 | 57 |
Pass [Member] | Total Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
PCI loans | 164 | 402 |
Pass [Member] | Commercial and Industrial Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
PCI loans | 21 | 92 |
Pass [Member] | Commercial real estate mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
PCI loans | 129 | 263 |
Pass [Member] | Commercial Real Estate Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
PCI loans | 14 | 47 |
Criticized [Member] | Total Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
PCI loans | 199 | 275 |
Criticized [Member] | Commercial and Industrial Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
PCI loans | 156 | 145 |
Criticized [Member] | Commercial real estate mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
PCI loans | 35 | 120 |
Criticized [Member] | Commercial Real Estate Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
PCI loans | $ 8 | $ 10 |
Loans and Allowance for Credi78
Loans and Allowance for Credit Losses, PCI, by Delinquency Status, Commercial (Details) - Receivables Acquired with Deteriorated Credit Quality [Member] - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Total Commercial [Member] | ||
By delinquency status: | ||
Over 90 DPD and still accruing | $ 25 | $ 29 |
PCI loans | 363 | 677 |
Commercial and Industrial Loans [Member] | ||
By delinquency status: | ||
Over 90 DPD and still accruing | 0 | 0 |
PCI loans | 177 | 237 |
Commercial real estate mortgage [Member] | ||
By delinquency status: | ||
Over 90 DPD and still accruing | 17 | 20 |
PCI loans | 164 | 383 |
Commercial Real Estate Construction [Member] | ||
By delinquency status: | ||
Over 90 DPD and still accruing | 8 | 9 |
PCI loans | 22 | 57 |
Current-29 days past due (DPD) and still accruing [Member] | Total Commercial [Member] | ||
By delinquency status: | ||
PCI loans | 336 | 636 |
Current-29 days past due (DPD) and still accruing [Member] | Commercial and Industrial Loans [Member] | ||
By delinquency status: | ||
PCI loans | 175 | 235 |
Current-29 days past due (DPD) and still accruing [Member] | Commercial real estate mortgage [Member] | ||
By delinquency status: | ||
PCI loans | 147 | 353 |
Current-29 days past due (DPD) and still accruing [Member] | Commercial Real Estate Construction [Member] | ||
By delinquency status: | ||
PCI loans | 14 | 48 |
30-89 days past due and still accruing [Member] | Total Commercial [Member] | ||
By delinquency status: | ||
PCI loans | 2 | 12 |
30-89 days past due and still accruing [Member] | Commercial and Industrial Loans [Member] | ||
By delinquency status: | ||
PCI loans | 2 | 2 |
30-89 days past due and still accruing [Member] | Commercial real estate mortgage [Member] | ||
By delinquency status: | ||
PCI loans | 0 | 10 |
30-89 days past due and still accruing [Member] | Commercial Real Estate Construction [Member] | ||
By delinquency status: | ||
PCI loans | $ 0 | $ 0 |
Loans and Allowance for Credi79
Loans and Allowance for Credit Losses, PCI, by Delinquency Status, Consumer (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
PCI Loans UPB [Member] | Real estate 1-4 family first mortgage [Member] | ||
By delinquency status: | ||
PCI loans | $ 19,977 | $ 20,803 |
PCI Loans UPB [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By delinquency status: | ||
PCI loans | 184 | 192 |
PCI Loans UPB [Member] | Residential Mortgage [Member] | ||
By delinquency status: | ||
PCI loans | 20,161 | 20,995 |
PCI Loans Carrying Value [Member] | ||
By delinquency status: | ||
PCI loans | 15,670 | 16,731 |
PCI Loans Carrying Value [Member] | Real estate 1-4 family first mortgage [Member] | ||
By delinquency status: | ||
PCI loans | 15,273 | 16,018 |
PCI Loans Carrying Value [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By delinquency status: | ||
PCI loans | 34 | 36 |
PCI Loans Carrying Value [Member] | Residential Mortgage [Member] | ||
By delinquency status: | ||
PCI loans | 15,307 | 16,054 |
Current-29 days past due (DPD) [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family first mortgage [Member] | ||
By delinquency status: | ||
PCI loans | 15,851 | 16,095 |
Current-29 days past due (DPD) [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By delinquency status: | ||
PCI loans | 167 | 171 |
Current-29 days past due (DPD) [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Mortgage [Member] | ||
By delinquency status: | ||
PCI loans | 16,018 | 16,266 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family first mortgage [Member] | ||
By delinquency status: | ||
PCI loans | 1,276 | 1,488 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By delinquency status: | ||
PCI loans | 6 | 7 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Mortgage [Member] | ||
By delinquency status: | ||
PCI loans | 1,282 | 1,495 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family first mortgage [Member] | ||
By delinquency status: | ||
PCI loans | 572 | 668 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By delinquency status: | ||
PCI loans | 2 | 2 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Mortgage [Member] | ||
By delinquency status: | ||
PCI loans | 574 | 670 |
90-119 Days Past Due [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family first mortgage [Member] | ||
By delinquency status: | ||
PCI loans | 185 | 233 |
90-119 Days Past Due [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By delinquency status: | ||
PCI loans | 1 | 2 |
90-119 Days Past Due [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Mortgage [Member] | ||
By delinquency status: | ||
PCI loans | 186 | 235 |
120-179 DPD member [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family first mortgage [Member] | ||
By delinquency status: | ||
PCI loans | 209 | 238 |
120-179 DPD member [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By delinquency status: | ||
PCI loans | 1 | 2 |
120-179 DPD member [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Mortgage [Member] | ||
By delinquency status: | ||
PCI loans | 210 | 240 |
180 plus DPD [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family first mortgage [Member] | ||
By delinquency status: | ||
PCI loans | 1,884 | 2,081 |
180 plus DPD [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By delinquency status: | ||
PCI loans | 7 | 8 |
180 plus DPD [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Mortgage [Member] | ||
By delinquency status: | ||
PCI loans | $ 1,891 | $ 2,089 |
Loans and Allowance for Credi80
Loans and Allowance for Credit Losses, PCI, by FICO Score, Consumer (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
PCI Loans UPB [Member] | Real estate 1-4 family first mortgage [Member] | ||
By FICO: | ||
PCI loans | $ 19,977 | $ 20,803 |
PCI Loans UPB [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By FICO: | ||
PCI loans | 184 | 192 |
PCI Loans UPB [Member] | Residential Mortgage [Member] | ||
By FICO: | ||
PCI loans | 20,161 | 20,995 |
PCI Loans Carrying Value [Member] | ||
By FICO: | ||
PCI loans | 15,670 | 16,731 |
PCI Loans Carrying Value [Member] | Real estate 1-4 family first mortgage [Member] | ||
By FICO: | ||
PCI loans | 15,273 | 16,018 |
PCI Loans Carrying Value [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By FICO: | ||
PCI loans | 34 | 36 |
PCI Loans Carrying Value [Member] | Residential Mortgage [Member] | ||
By FICO: | ||
PCI loans | 15,307 | 16,054 |
FICO less than 600 [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family first mortgage [Member] | ||
By FICO: | ||
PCI loans | 5,022 | 4,292 |
FICO less than 600 [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By FICO: | ||
PCI loans | 46 | 46 |
FICO less than 600 [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Mortgage [Member] | ||
By FICO: | ||
PCI loans | 5,068 | 4,338 |
FICO 600-639 [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family first mortgage [Member] | ||
By FICO: | ||
PCI loans | 2,703 | 3,001 |
FICO 600-639 [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By FICO: | ||
PCI loans | 24 | 26 |
FICO 600-639 [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Mortgage [Member] | ||
By FICO: | ||
PCI loans | 2,727 | 3,027 |
FICO 640-679 [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family first mortgage [Member] | ||
By FICO: | ||
PCI loans | 3,075 | 3,972 |
FICO 640-679 [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By FICO: | ||
PCI loans | 34 | 35 |
FICO 640-679 [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Mortgage [Member] | ||
By FICO: | ||
PCI loans | 3,109 | 4,007 |
FICO 680-719 [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family first mortgage [Member] | ||
By FICO: | ||
PCI loans | 2,653 | 3,170 |
FICO 680-719 [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By FICO: | ||
PCI loans | 34 | 37 |
FICO 680-719 [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Mortgage [Member] | ||
By FICO: | ||
PCI loans | 2,687 | 3,207 |
FICO 720-759 [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family first mortgage [Member] | ||
By FICO: | ||
PCI loans | 1,956 | 1,767 |
FICO 720-759 [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By FICO: | ||
PCI loans | 24 | 24 |
FICO 720-759 [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Mortgage [Member] | ||
By FICO: | ||
PCI loans | 1,980 | 1,791 |
FICO 760-799 [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family first mortgage [Member] | ||
By FICO: | ||
PCI loans | 952 | 962 |
FICO 760-799 [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By FICO: | ||
PCI loans | 12 | 15 |
FICO 760-799 [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Mortgage [Member] | ||
By FICO: | ||
PCI loans | 964 | 977 |
FICO 800 or more [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family first mortgage [Member] | ||
By FICO: | ||
PCI loans | 457 | 254 |
FICO 800 or more [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By FICO: | ||
PCI loans | 7 | 4 |
FICO 800 or more [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Mortgage [Member] | ||
By FICO: | ||
PCI loans | 464 | 258 |
No FICO available [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family first mortgage [Member] | ||
By FICO: | ||
PCI loans | 3,159 | 3,385 |
No FICO available [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By FICO: | ||
PCI loans | 3 | 5 |
No FICO available [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Mortgage [Member] | ||
By FICO: | ||
PCI loans | $ 3,162 | $ 3,390 |
Loans and Allowance for Credi81
Loans and Allowance for Credit Losses, PCI, by Loan to Value Ratio, Consumer (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
PCI Loans UPB [Member] | Real estate 1-4 family first mortgage [Member] | ||
By LTV/CLTV: | ||
PCI loans | $ 19,977 | $ 20,803 |
PCI Loans UPB [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By LTV/CLTV: | ||
PCI loans | 184 | 192 |
PCI Loans UPB [Member] | Residential Mortgage [Member] | ||
By LTV/CLTV: | ||
PCI loans | 20,161 | 20,995 |
PCI Loans Carrying Value [Member] | ||
By LTV/CLTV: | ||
PCI loans | 15,670 | 16,731 |
PCI Loans Carrying Value [Member] | Real estate 1-4 family first mortgage [Member] | ||
By LTV/CLTV: | ||
PCI loans | 15,273 | 16,018 |
PCI Loans Carrying Value [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By LTV/CLTV: | ||
PCI loans | 34 | 36 |
PCI Loans Carrying Value [Member] | Residential Mortgage [Member] | ||
By LTV/CLTV: | ||
PCI loans | 15,307 | 16,054 |
LTV 0-60% [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family first mortgage [Member] | ||
By LTV/CLTV: | ||
PCI loans | 7,710 | 7,513 |
LTV 0-60% [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By LTV/CLTV: | ||
PCI loans | 40 | 38 |
LTV 0-60% [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Mortgage [Member] | ||
By LTV/CLTV: | ||
PCI loans | 7,750 | 7,551 |
LTV 60.01-80% [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family first mortgage [Member] | ||
By LTV/CLTV: | ||
PCI loans | 8,490 | 9,000 |
LTV 60.01-80% [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By LTV/CLTV: | ||
PCI loans | 74 | 76 |
LTV 60.01-80% [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Mortgage [Member] | ||
By LTV/CLTV: | ||
PCI loans | 8,564 | 9,076 |
LTV 80.01-100% [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family first mortgage [Member] | ||
By LTV/CLTV: | ||
PCI loans | 3,063 | 3,458 |
LTV 80.01-100% [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By LTV/CLTV: | ||
PCI loans | 50 | 54 |
LTV 80.01-100% [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Mortgage [Member] | ||
By LTV/CLTV: | ||
PCI loans | 3,113 | 3,512 |
LTV 100.01-120% [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family first mortgage [Member] | ||
By LTV/CLTV: | ||
PCI loans | 575 | 669 |
LTV 100.01-120% [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By LTV/CLTV: | ||
PCI loans | 15 | 18 |
LTV 100.01-120% [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Mortgage [Member] | ||
By LTV/CLTV: | ||
PCI loans | 590 | 687 |
LTV greater than 120% [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family first mortgage [Member] | ||
By LTV/CLTV: | ||
PCI loans | 137 | 161 |
LTV greater than 120% [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By LTV/CLTV: | ||
PCI loans | 5 | 5 |
LTV greater than 120% [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Mortgage [Member] | ||
By LTV/CLTV: | ||
PCI loans | 142 | 166 |
No LTV/CLTV available [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family first mortgage [Member] | ||
By LTV/CLTV: | ||
PCI loans | 2 | 2 |
No LTV/CLTV available [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
By LTV/CLTV: | ||
PCI loans | 0 | 1 |
No LTV/CLTV available [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Mortgage [Member] | ||
By LTV/CLTV: | ||
PCI loans | $ 2 | $ 3 |
Other Assets (Details)
Other Assets (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | ||
Components of Other Assets [Line Items] | ||||
Cost method investments | $ 8,122 | $ 8,397 | ||
Equity method investments | 15,534 | 15,708 | ||
Other assets, carried at fair value | 3,780 | 3,275 | ||
Total nonmarketable equity investments | 27,436 | 27,380 | ||
Corporate/bank-owned life insurance | 19,368 | 19,325 | ||
Accounts receivable (3) | 31,570 | 31,056 | ||
Interest receivable | 5,486 | 5,339 | ||
Customer relationship and other amortized intangibles | 3,837 | 4,115 | ||
Non-residential real estate | 381 | 403 | ||
Operating lease assets | 9,837 | 10,089 | ||
Due from customers on acceptances | 191 | 196 | ||
Other | 10,533 | 17,469 | ||
Other assets | [1] | 107,761 | 114,541 | |
Other Assets Textual [Abstract] | ||||
Income (loss) from affordable housing projects, equity method investments | 230 | $ 202 | ||
Low income housing tax credit (LIHTC) investment total tax benefits | 347 | 307 | ||
Low income housing tax credit (LIHTC) investment tax credits | 261 | 230 | ||
Low income housing tax credit (LIHTC) investment liability for unfunded commitments | $ 3,400 | 3,600 | ||
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 | $ 287 | 185 | ||
All other | (45) | (186) | ||
Total | 242 | $ (1) | ||
Government insured/guaranteed [Member] | ||||
Components of Other Assets [Line Items] | ||||
Residential real estate | 179 | 197 | ||
Non-government insured/guaranteed [Member] | ||||
Components of Other Assets [Line Items] | ||||
Residential real estate | 345 | 378 | ||
Core deposit intangibles [Member] | ||||
Components of Other Assets [Line Items] | ||||
Customer relationship and other amortized intangibles | 1,407 | 1,620 | ||
Customer relationship and other amortized intangibles [Member] | ||||
Components of Other Assets [Line Items] | ||||
Customer relationship and other amortized intangibles | 1,028 | 1,089 | ||
Auction rate securities [Member] | ||||
Components of Other Assets [Line Items] | ||||
Cost method investments | 453 | 525 | ||
Federal bank stock [Member] | ||||
Components of Other Assets [Line Items] | ||||
Cost method investments | 6,185 | 6,407 | ||
Low Income Housing Tax Credit Equity Method Investments [Member] | ||||
Components of Other Assets [Line Items] | ||||
Equity method investments | 9,624 | 9,714 | ||
Private equity and other [Member] | ||||
Components of Other Assets [Line Items] | ||||
Cost method investments | 1,484 | 1,465 | ||
Equity method investments | 3,620 | 3,635 | ||
Tax Advantaged Renewable Energy [Member] | ||||
Components of Other Assets [Line Items] | ||||
Equity method investments | 2,013 | 2,054 | ||
New Market Tax Credit and Other [Member] | ||||
Components of Other Assets [Line Items] | ||||
Equity method investments | $ 277 | $ 305 | ||
[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 | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | |
Variable Interest Entity Consolidated Carrying Amount Assets and Liabilities | |||||
Cash | $ 19,698 | $ 20,729 | $ 19,084 | $ 19,111 | |
Federal funds sold, securities purchased under resale agreements and other short-term investments | 308,747 | 266,038 | |||
Trading assets | 80,326 | 74,397 | |||
Investment securities | 407,159 | 407,519 | |||
Loans | [1] | 958,405 | 967,604 | ||
Mortgage servicing rights | 13,208 | 12,959 | |||
Derivative asset | 12,564 | 14,498 | |||
Other assets | [1] | 107,761 | 114,541 | ||
Total assets | [2] | 1,951,564 | 1,930,115 | ||
Short-term borrowings | 94,871 | 96,781 | |||
Derivative liabilities | 12,461 | 14,492 | |||
Accrued expenses and other liabilities | 59,831 | 57,189 | |||
Long-term debt | 256,468 | 255,077 | |||
Total liabilities | [3] | 1,749,075 | 1,729,618 | ||
Noncontrolling interests | 989 | 916 | |||
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 | 1,546 | 2,034 | |||
Investment securities | 7,221 | 8,530 | |||
Loans | 6,527 | 6,698 | |||
Mortgage servicing rights | 13,704 | 13,386 | |||
Derivative asset | 68 | 91 | |||
Other assets | 10,148 | 10,281 | |||
Total assets | 39,214 | 41,020 | |||
Short-term borrowings | 0 | 0 | |||
Derivative liabilities | 57 | 59 | |||
Accrued expenses and other liabilities | 287 | 306 | |||
Long-term debt | 3,351 | 3,598 | |||
Total liabilities | 3,695 | 3,963 | |||
Noncontrolling interests | 0 | 0 | |||
Net assets | 35,519 | 37,057 | |||
VIEs that we consolidate [Member] | |||||
Variable Interest Entity Consolidated Carrying Amount Assets and Liabilities | |||||
Cash | 128 | 168 | |||
Federal funds sold, securities purchased under resale agreements and other short-term investments | 485 | 74 | |||
Trading assets | 126 | 130 | |||
Investment securities | 0 | 0 | |||
Loans | 13,056 | 12,589 | |||
Mortgage servicing rights | 0 | 0 | |||
Derivative asset | 1 | 1 | |||
Other assets | 361 | 452 | |||
Total assets | 14,157 | 13,414 | |||
Short-term borrowings | 0 | 0 | |||
Derivative liabilities | 30 | 33 | |||
Accrued expenses and other liabilities | 103 | 107 | |||
Long-term debt | 3,640 | 3,694 | |||
Total liabilities | 3,773 | 3,834 | |||
Noncontrolling interests | 132 | 138 | |||
Net assets | 10,252 | 9,442 | |||
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 | 201 | 201 | |||
Investment securities | 650 | 786 | |||
Loans | 127 | 138 | |||
Mortgage servicing rights | 0 | 0 | |||
Derivative asset | 0 | 0 | |||
Other assets | 10 | 11 | |||
Total assets | 988 | 1,136 | |||
Short-term borrowings | 783 | 905 | |||
Derivative liabilities | 0 | 0 | |||
Accrued expenses and other liabilities | 2 | 2 | |||
Long-term debt | 129 | 136 | |||
Total liabilities | 914 | 1,043 | |||
Noncontrolling interests | 0 | 0 | |||
Net assets | 74 | 93 | |||
Total VIE [Member] | |||||
Variable Interest Entity Consolidated Carrying Amount Assets and Liabilities | |||||
Cash | 128 | 168 | |||
Federal funds sold, securities purchased under resale agreements and other short-term investments | 485 | 74 | |||
Trading assets | 1,873 | 2,365 | |||
Investment securities | 7,871 | 9,316 | |||
Loans | 19,710 | 19,425 | |||
Mortgage servicing rights | 13,704 | 13,386 | |||
Derivative asset | 69 | 92 | |||
Other assets | 10,519 | 10,744 | |||
Total assets | 54,359 | 55,570 | |||
Short-term borrowings | 783 | 905 | |||
Derivative liabilities | 87 | 92 | |||
Accrued expenses and other liabilities | 392 | 415 | |||
Long-term debt | 7,120 | 7,428 | |||
Total liabilities | 8,382 | 8,840 | |||
Noncontrolling interests | 132 | 138 | |||
Net assets | $ 45,845 | $ 46,592 | |||
[1] | Parenthetical amounts represent assets and liabilities for which we have elected the fair value option. | ||||
[2] | Our consolidated assets at March 31, 2017, and December 31, 2016, 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, $128 million and $168 million; Federal funds sold, securities purchased under resale agreements and other short-term investments, $485 million and $74 million; Trading assets, $126 million and $130 million; Investment securities, $0 million at both period ends; Net loans, $13.1 billion and $12.6 billion; Derivative assets, $1 million and $1 million; Other assets, $361 million and $452 million; and Total assets, $14.2 billion and $13.4 billion, respectively. | ||||
[3] | Our consolidated liabilities at March 31, 2017, and December 31, 2016, include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Derivative liabilities, $30 million and $33 million; Accrued expenses and other liabilities, $103 million and $107 million; Long-term debt, $3.6 billion and $3.7 billion; and Total liabilities, $3.8 billion at both period ends, respectively. |
Securitizations and Variable 84
Securitizations and Variable Interest Entities, Unconsolidated VIEs (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Variable Interest Entity [Line Items] | |||
Total VIE assets | $ 1,389,580 | $ 1,395,604 | |
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Carrying value of delinquent loans eligible for repurchase | $ 888 | $ 1,200 | |
Percentage of underlying collateral rated as investment grade | 100.00% | 100.00% | |
Principal amount that would be payable to securitization vehicles | $ 888 | $ 1,200 | |
Conforming Residential Mortgage Loan Securitization [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 1,176,819 | 1,166,296 | |
Other/Nonconforming Residential Mortgage Loan Securitization [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 17,459 | 18,805 | |
Commercial Mortgage Backed Securities [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 152,603 | 166,596 | |
Collateralized Debt Obligations Debt Securities [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 1,336 | 1,472 | |
Collateralized Debt Obligations Loans [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 1,527 | 1,545 | |
Asset-based finance structures [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 8,039 | 9,152 | |
Tax Credit Structures [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 29,808 | 29,713 | |
Collateralized Loan Obligations [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 49 | 78 | |
Investment Funds [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 220 | 214 | |
Other securitizations and transactions [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 1,720 | 1,733 | |
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 | 14 | $ 30 | |
Debt and equity interests [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 25,442 | 27,543 | |
Maximum exposure to loss | 25,442 | 27,543 | |
Debt and equity interests [Member] | Conforming Residential Mortgage Loan Securitization [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 2,539 | 3,026 | |
Maximum exposure to loss | 2,539 | 3,026 | |
Debt and equity interests [Member] | Other/Nonconforming Residential Mortgage Loan Securitization [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 824 | 873 | |
Maximum exposure to loss | 824 | 873 | |
Debt and equity interests [Member] | Commercial Mortgage Backed Securities [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 3,115 | 4,258 | |
Maximum exposure to loss | 3,115 | 4,258 | |
Debt and equity interests [Member] | Collateralized Debt Obligations Debt Securities [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 0 | 0 | |
Maximum exposure to loss | 0 | 0 | |
Debt and equity interests [Member] | Collateralized Debt Obligations Loans [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 1,489 | 1,507 | |
Maximum exposure to loss | 1,489 | 1,507 | |
Debt and equity interests [Member] | Asset-based finance structures [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 6,142 | 6,522 | |
Maximum exposure to loss | 6,142 | 6,522 | |
Debt and equity interests [Member] | Tax Credit Structures [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 10,642 | 10,669 | |
Maximum exposure to loss | 10,642 | 10,669 | |
Debt and equity interests [Member] | Collateralized Loan Obligations [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 10 | 10 | |
Maximum exposure to loss | 10 | 10 | |
Debt and equity interests [Member] | Investment Funds [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 52 | 48 | |
Maximum exposure to loss | 52 | 48 | |
Debt and equity interests [Member] | Other securitizations and transactions [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 629 | 630 | |
Maximum exposure to loss | 629 | 630 | |
Servicing assets [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 13,704 | 13,386 | |
Maximum exposure to loss | 13,704 | 13,386 | |
Servicing assets [Member] | Conforming Residential Mortgage Loan Securitization [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 12,750 | 12,434 | |
Maximum exposure to loss | 12,750 | 12,434 | |
Servicing assets [Member] | Other/Nonconforming Residential Mortgage Loan Securitization [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 101 | 109 | |
Maximum exposure to loss | 101 | 109 | |
Servicing assets [Member] | Commercial Mortgage Backed Securities [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 853 | 843 | |
Maximum exposure to loss | 853 | 843 | |
Servicing assets [Member] | Collateralized Debt Obligations Debt Securities [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 0 | 0 | |
Maximum exposure to loss | 0 | 0 | |
Servicing assets [Member] | Collateralized Debt Obligations Loans [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 0 | 0 | |
Maximum exposure to loss | 0 | 0 | |
Servicing assets [Member] | Asset-based finance structures [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 0 | 0 | |
Maximum exposure to loss | 0 | 0 | |
Servicing assets [Member] | Tax Credit Structures [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 0 | 0 | |
Maximum exposure to loss | 0 | 0 | |
Servicing assets [Member] | Collateralized Loan Obligations [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 0 | 0 | |
Maximum exposure to loss | 0 | 0 | |
Servicing assets [Member] | Investment Funds [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 0 | 0 | |
Maximum exposure to loss | 0 | 0 | |
Servicing assets [Member] | Other securitizations and transactions [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 0 | 0 | |
Maximum exposure to loss | 0 | 0 | |
Derivative [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 11 | 31 | |
Maximum exposure to loss | 161 | 187 | |
Derivative [Member] | Conforming Residential Mortgage Loan Securitization [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 0 | 0 | |
Maximum exposure to loss | 0 | 0 | |
Derivative [Member] | Other/Nonconforming Residential Mortgage Loan Securitization [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 0 | 0 | |
Maximum exposure to loss | 0 | 0 | |
Derivative [Member] | Commercial Mortgage Backed Securities [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 62 | 87 | |
Maximum exposure to loss | 72 | 94 | |
Derivative [Member] | Collateralized Debt Obligations Debt Securities [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 0 | 0 | |
Maximum exposure to loss | 0 | 0 | |
Derivative [Member] | Collateralized Debt Obligations Loans [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 0 | 0 | |
Maximum exposure to loss | 0 | 0 | |
Derivative [Member] | Asset-based finance structures [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 0 | 0 | |
Maximum exposure to loss | 0 | 0 | |
Derivative [Member] | Tax Credit Structures [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 0 | 0 | |
Maximum exposure to loss | 0 | 0 | |
Derivative [Member] | Collateralized Loan Obligations [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 0 | 0 | |
Maximum exposure to loss | 0 | 0 | |
Derivative [Member] | Investment Funds [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 0 | 0 | |
Maximum exposure to loss | 0 | 0 | |
Derivative [Member] | Other securitizations and transactions [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | (51) | (56) | |
Maximum exposure to loss | 89 | 93 | |
Other commitments and guarantees [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | (3,638) | (3,903) | |
Maximum exposure to loss | 11,751 | 11,748 | |
Other commitments and guarantees [Member] | Conforming Residential Mortgage Loan Securitization [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | (226) | (232) | |
Maximum exposure to loss | 929 | 979 | |
Other commitments and guarantees [Member] | Other/Nonconforming Residential Mortgage Loan Securitization [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | (2) | (2) | |
Maximum exposure to loss | 2 | 2 | |
Other commitments and guarantees [Member] | Commercial Mortgage Backed Securities [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | (34) | (35) | |
Maximum exposure to loss | 9,783 | 9,566 | |
Other commitments and guarantees [Member] | Collateralized Debt Obligations Debt Securities [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | (25) | (25) | |
Maximum exposure to loss | 25 | 25 | |
Other commitments and guarantees [Member] | Collateralized Debt Obligations Loans [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 0 | 0 | |
Maximum exposure to loss | 0 | 0 | |
Other commitments and guarantees [Member] | Asset-based finance structures [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 0 | 0 | |
Maximum exposure to loss | 71 | 72 | |
Other commitments and guarantees [Member] | Tax Credit Structures [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | (3,351) | (3,609) | |
Maximum exposure to loss | 941 | 1,104 | |
Other commitments and guarantees [Member] | Collateralized Loan Obligations [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 0 | 0 | |
Maximum exposure to loss | 0 | 0 | |
Other commitments and guarantees [Member] | Investment Funds [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 0 | 0 | |
Maximum exposure to loss | 0 | 0 | |
Other commitments and guarantees [Member] | Other securitizations and transactions [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 0 | 0 | |
Maximum exposure to loss | 0 | 0 | |
Total exposure [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 51,058 | 52,864 | |
Total exposure [Member] | Conforming Residential Mortgage Loan Securitization [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 16,218 | 16,439 | |
Total exposure [Member] | Other/Nonconforming Residential Mortgage Loan Securitization [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 927 | 984 | |
Total exposure [Member] | Commercial Mortgage Backed Securities [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 13,823 | 14,761 | |
Total exposure [Member] | Collateralized Debt Obligations Debt Securities [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 25 | 25 | |
Total exposure [Member] | Collateralized Debt Obligations Loans [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 1,489 | 1,507 | |
Total exposure [Member] | Asset-based finance structures [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 6,213 | 6,594 | |
Total exposure [Member] | Tax Credit Structures [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 11,583 | 11,773 | |
Total exposure [Member] | Collateralized Loan Obligations [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 10 | 10 | |
Total exposure [Member] | Investment Funds [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 52 | 48 | |
Total exposure [Member] | Other securitizations and transactions [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 718 | 723 | |
Net assets [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 35,519 | 37,057 | |
Net assets [Member] | Conforming Residential Mortgage Loan Securitization [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 15,063 | 15,228 | |
Net assets [Member] | Other/Nonconforming Residential Mortgage Loan Securitization [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 923 | 980 | |
Net assets [Member] | Commercial Mortgage Backed Securities [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 3,996 | 5,153 | |
Net assets [Member] | Collateralized Debt Obligations Debt Securities [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | (25) | (25) | |
Net assets [Member] | Collateralized Debt Obligations Loans [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 1,489 | 1,507 | |
Net assets [Member] | Asset-based finance structures [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 6,142 | 6,522 | |
Net assets [Member] | Tax Credit Structures [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 7,291 | 7,060 | |
Net assets [Member] | Collateralized Loan Obligations [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 10 | 10 | |
Net assets [Member] | Investment Funds [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 52 | 48 | |
Net assets [Member] | Other securitizations and transactions [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 578 | 574 | |
Equity Interests [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | 10,100 | 10,300 | |
Other Investments [Member] | |||
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Securities Available for Sale Portfolio of ARS issued by VIEs | 453 | 453 | |
Trust Preferred Securities [Member] | |||
Variable Interest Entity [Line Items] | |||
Carrying value asset (liability) | (2,100) | (2,100) | |
Trust Preferred Securities [Member] | Preferred Stock [Member] | |||
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Carrying value - equity | $ 2,500 | $ 2,500 |
Securitizations and Variable 85
Securitizations and Variable Interest Entities, Cash Flows From Sales and Securitization Activity (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Securitizations and Variable Interest Entities Textual [Abstract] | ||
Amount paid to repurchase loans from securitization vehicles | $ 2,300 | $ 2,900 |
Net gain from sale of assets securitizations | 132 | 195 |
Residential Mortgage [Member] | ||
Securitizations and Variable Interest Entities Textual [Abstract] | ||
Amount transferred related to mortgages to unconsolidated VIE | 55,500 | 37,300 |
Mortgage loans [Member] | ||
Cash Flow Securitizations [Abstract] | ||
Proceeds from securitizations and whole loan sales | 58,257 | 45,016 |
Fees from servicing rights retained | 854 | 881 |
Cash flows from other interests held | 834 | 407 |
Servicing advances, net of repayments | (142) | (68) |
Other financial assets [Member] | ||
Cash Flow Securitizations [Abstract] | ||
Proceeds from securitizations and whole loan sales | 21 | 50 |
Fees from servicing rights retained | 0 | 0 |
Cash flows from other interests held | 0 | 1 |
Servicing advances, net of repayments | 0 | 0 |
Commercial Loans [Member] | ||
Securitizations and Variable Interest Entities Textual [Abstract] | ||
Net gain from sale of assets securitizations | 96 | 135 |
Amount transferred related to mortgages to unconsolidated VIE | 3,300 | 8,100 |
Non-agency securitizations and whole loan transactions [Member] | Mortgage loans [Member] | ||
Cash Flow Securitizations [Abstract] | ||
Repurchases of assets/loss reimbursements | 2 | 3 |
Non-agency securitizations and whole loan transactions [Member] | Other financial assets [Member] | ||
Cash Flow Securitizations [Abstract] | ||
Repurchases of assets/loss reimbursements | 0 | 0 |
Agency securitizations | Mortgage loans [Member] | ||
Cash Flow Securitizations [Abstract] | ||
Repurchases of assets/loss reimbursements | 23 | 47 |
Agency securitizations | Other financial assets [Member] | ||
Cash Flow Securitizations [Abstract] | ||
Repurchases of assets/loss reimbursements | 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 | 546 | 315 |
Amount of liability for repurchase reserves at fair value | 8 | 7 |
Fair Value, Inputs, Level 3 [Member] | Commercial Loans [Member] | ||
Securitizations and Variable Interest Entities Textual [Abstract] | ||
Amount of servicing asset at fair value | 45 | 97 |
Fair Value, Inputs, Level 2 [Member] | Residential Mortgage [Member] | ||
Securitizations and Variable Interest Entities Textual [Abstract] | ||
Securities, at fair value | 2,800 | 832 |
Fair Value, Inputs, Level 2 [Member] | Commercial Loans [Member] | ||
Securitizations and Variable Interest Entities Textual [Abstract] | ||
Securities, at fair value | $ 0 | $ 86 |
Securitizations and Variable 86
Securitizations and Variable Interest Entities, Residential Mortgage Servicing Rights (Details) - Residential mortgage servicing rights [Member] - $ / loan | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Fair Value Assumption, Date of Securitization or Asset-backed Financing Arrangement, Transferor's Continuing Involvement, Servicing Assets or Liabilities [Line Items] | ||
Prepayment speed | 10.30% | 13.00% |
Discount rate | 6.80% | 6.80% |
Cost to service ($ per loan) | 134 | 146 |
Securitizations and Variable 87
Securitizations and Variable Interest Entities, Retained Interests from Unconsolidated VIEs (Details) $ in Millions | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017USD ($)$ / loan | Dec. 31, 2016USD ($)$ / loan | |
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 | $ 13,208 | $ 12,959 |
Expected weighted-average life (in years) | 6 years 4 months 24 days | 6 years 3 months 18 days |
Key economic assumptions: | ||
Prepayment speed assumption | 10.20% | 10.30% |
Decrease in fair value from: | ||
10% adverse change | $ 570 | $ 583 |
25% adverse change | $ 1,353 | $ 1,385 |
Discount rate assumption | 6.90% | 6.80% |
Decrease in fair value from: | ||
100 basis point increase | $ 658 | $ 649 |
200 basis point increase | $ 1,257 | $ 1,239 |
Cost to service assumption ($ per loan) | $ / loan | 150 | 155 |
Decrease in fair value from: | ||
10% adverse change | $ 498 | $ 515 |
25% adverse change | 1,246 | 1,282 |
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 | $ 26 | $ 28 |
Expected weighted-average life (in years) | 3 years 10 months 24 days | 3 years 10 months 24 days |
Key economic assumptions: | ||
Prepayment speed assumption | 17.20% | 17.40% |
Decrease in fair value from: | ||
10% adverse change | $ 1 | $ 1 |
25% adverse change | $ 2 | $ 2 |
Discount rate assumption | 13.60% | 13.30% |
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 | $ 346 | $ 249 |
Expected weighted-average life (in years) | 4 years 6 months 18 days | 3 years 1 month 6 days |
Decrease in fair value from: | ||
Discount rate assumption | 4.30% | 5.20% |
Decrease in fair value from: | ||
100 basis point increase | $ 12 | $ 7 |
200 basis point increase | $ 23 | $ 12 |
Decrease in fair value from: | ||
Credit loss assumption | 3.40% | 4.70% |
Decrease in fair value from: | ||
10% higher losses | $ 0 | $ 0 |
25% higher losses | 0 | 0 |
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 | $ 0 | $ 1 |
Expected weighted-average life (in years) | 0 years | 8 years 3 months 18 days |
Key economic assumptions: | ||
Prepayment speed assumption | 0.00% | 13.50% |
Decrease in fair value from: | ||
10% adverse change | $ 0 | $ 0 |
25% adverse change | $ 0 | $ 0 |
Discount rate assumption | 0.00% | 10.70% |
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 | 0.00% | 3.00% |
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 | $ 545 | $ 552 |
Expected weighted-average life (in years) | 5 years 6 months 18 days | 5 years 1 month 6 days |
Decrease in fair value from: | ||
Discount rate assumption | 2.90% | 2.70% |
Decrease in fair value from: | ||
100 basis point increase | $ 24 | $ 23 |
200 basis point increase | $ 47 | $ 45 |
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 | $ 2,100 | $ 2,000 |
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 | $ 270 | $ 259 |
VIEs that we do not consolidate [Member] | Loans [Member] | ||
Decrease in fair value from: | ||
200 basis point increase | 129 | 154 |
Securitizations and Variable Interest Entities Textual [Abstract] | ||
Loans receivable | $ 3,100 | $ 3,200 |
Securitizations and Variable 88
Securitizations and Variable Interest Entities, Off-Balance Sheet Loans Sold or Securitized (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | $ 1,262,807 | $ 1,266,936 | |
Delinquent loans and foreclosed assets | 18,278 | 19,778 | |
Net charge-offs | 495 | $ 370 | |
FNMA, FHLMC and GNMA [Member] | |||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | 1,200,000 | 1,200,000 | |
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Foreclosed assets | 1,200 | 1,300 | |
Delinquent loans | 9,500 | 9,800 | |
Total Commercial [Member] | |||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | 100,695 | 106,745 | |
Delinquent loans and foreclosed assets | 3,076 | 3,325 | |
Net charge-offs | 295 | 83 | |
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Foreclosed assets | 1,500 | 1,700 | |
Commercial real estate mortgage [Member] | |||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | 100,695 | 106,745 | |
Delinquent loans and foreclosed assets | 3,076 | 3,325 | |
Net charge-offs | 295 | 83 | |
Total Consumer [Member] | |||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | 1,162,112 | 1,160,191 | |
Delinquent loans and foreclosed assets | 15,202 | 16,453 | |
Net charge-offs | 200 | 287 | |
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Foreclosed assets | 1,600 | 1,800 | |
Real estate 1-4 family first mortgage [Member] | |||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | 1,162,112 | 1,160,191 | |
Delinquent loans and foreclosed assets | 15,202 | $ 16,453 | |
Net charge-offs | $ 200 | $ 287 |
Securitizations and Variable 89
Securitizations and Variable Interest Entities, Transactions with Consolidated VIEs and Secured Borrowings (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 | |
Variable Interest Entity [Line Items] | |||
Assets | [1] | $ 1,951,564 | $ 1,930,115 |
Liabilities | [2] | (1,749,075) | (1,729,618) |
Noncontrolling interests | (989) | (916) | |
Total secured borrowings [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 1,459 | 1,612 | |
Total secured borrowings [Member] | Municipal tender option bond securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 1,328 | 1,473 | |
Total secured borrowings [Member] | Residential mortgage securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 131 | 139 | |
Consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 14,766 | 14,017 | |
Assets | 14,157 | 13,414 | |
Liabilities | (3,773) | (3,834) | |
Noncontrolling interests | (132) | (138) | |
Net assets | 10,252 | 9,442 | |
Consolidated VIEs [Member] | Commercial real estate loans [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 1,747 | 1,516 | |
Consolidated VIEs [Member] | Commercial and Industrial Loans and Leases [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 9,504 | 8,821 | |
Consolidated VIEs [Member] | Nonconforming residential mortgage loan securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 3,189 | 3,349 | |
Consolidated VIEs [Member] | Structured asset finance [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 22 | 23 | |
Consolidated VIEs [Member] | Investment funds [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 147 | 142 | |
Consolidated VIEs [Member] | Other securitizations and transactions [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 157 | 166 | |
Total secured borrowings and consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 16,225 | 15,629 | |
Carrying value [Member] | Total secured borrowings [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 988 | 1,136 | |
Liabilities | (914) | (1,043) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 74 | 93 | |
Carrying value [Member] | Total secured borrowings [Member] | Municipal tender option bond securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 861 | 998 | |
Liabilities | (785) | (907) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 76 | 91 | |
Carrying value [Member] | Total secured borrowings [Member] | Residential mortgage securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 127 | 138 | |
Liabilities | (129) | (136) | |
Noncontrolling interests | 0 | 0 | |
Net assets | (2) | 2 | |
Carrying value [Member] | Consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 14,157 | 13,414 | |
Liabilities | (3,773) | (3,834) | |
Noncontrolling interests | (132) | (138) | |
Net assets | 10,252 | 9,442 | |
Carrying value [Member] | Consolidated VIEs [Member] | Commercial real estate loans [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 1,747 | 1,516 | |
Liabilities | 0 | 0 | |
Noncontrolling interests | 0 | 0 | |
Net assets | 1,747 | 1,516 | |
Carrying value [Member] | Consolidated VIEs [Member] | Commercial and Industrial Loans and Leases [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 9,306 | 8,623 | |
Liabilities | (2,812) | (2,819) | |
Noncontrolling interests | (12) | (14) | |
Net assets | 6,482 | 5,790 | |
Carrying value [Member] | Consolidated VIEs [Member] | Nonconforming residential mortgage loan securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 2,812 | 2,974 | |
Liabilities | (950) | (1,003) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 1,862 | 1,971 | |
Carrying value [Member] | Consolidated VIEs [Member] | Structured asset finance [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 11 | 13 | |
Liabilities | (8) | (9) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 3 | 4 | |
Carrying value [Member] | Consolidated VIEs [Member] | Investment funds [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 147 | 142 | |
Liabilities | (2) | (2) | |
Noncontrolling interests | (69) | (67) | |
Net assets | 76 | 73 | |
Carrying value [Member] | Consolidated VIEs [Member] | Other securitizations and transactions [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 134 | 146 | |
Liabilities | (1) | (1) | |
Noncontrolling interests | (51) | (57) | |
Net assets | 82 | 88 | |
Carrying value [Member] | Total secured borrowings and consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 15,145 | 14,550 | |
Liabilities | (4,687) | (4,877) | |
Noncontrolling interests | (132) | (138) | |
Net assets | 10,326 | 9,535 | |
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 | 414 | 434 | |
Available-for-sale securities [Member] | |||
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Assets pledged to collateralize the borrowings of variable interest entity | $ 6,200 | $ 6,100 | |
[1] | Our consolidated assets at March 31, 2017, and December 31, 2016, 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, $128 million and $168 million; Federal funds sold, securities purchased under resale agreements and other short-term investments, $485 million and $74 million; Trading assets, $126 million and $130 million; Investment securities, $0 million at both period ends; Net loans, $13.1 billion and $12.6 billion; Derivative assets, $1 million and $1 million; Other assets, $361 million and $452 million; and Total assets, $14.2 billion and $13.4 billion, respectively. | ||
[2] | Our consolidated liabilities at March 31, 2017, and December 31, 2016, include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Derivative liabilities, $30 million and $33 million; Accrued expenses and other liabilities, $103 million and $107 million; Long-term debt, $3.6 billion and $3.7 billion; and Total liabilities, $3.8 billion at both period ends, respectively. |
Mortgage Banking Activities, An
Mortgage Banking Activities, Analysis of Changes in Fair Value MSRs (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Changes in MSRs measured at fair value | ||
Fair value, beginning of period | $ 12,959 | |
Changes in fair value: | ||
Net changes in valuation model inputs or assumptions | 174 | $ (957) |
Changes due to collection/realization of expected cash flows over time | (461) | (491) |
Total changes in fair value | (287) | (1,448) |
Fair value, end of period | 13,208 | |
Carried at fair value [Member] | ||
Changes in MSRs measured at fair value | ||
Fair value, beginning of period | 12,959 | 12,415 |
Servicing from securitizations or asset transfers (1) | 583 | 366 |
Sales and other (2) | (47) | 0 |
Net additions | 536 | 366 |
Changes in fair value: | ||
Net changes in valuation model inputs or assumptions | 174 | (957) |
Changes due to collection/realization of expected cash flows over time | (461) | (491) |
Total changes in fair value | (287) | (1,448) |
Fair value, end of period | 13,208 | 11,333 |
Carried at fair value [Member] | Mortgage interest rates [Member] | ||
Changes in fair value: | ||
Net changes in valuation model inputs or assumptions | 152 | (1,084) |
Carried at fair value [Member] | Servicing and foreclosure costs [Member] | ||
Changes in fair value: | ||
Net changes in valuation model inputs or assumptions | 27 | 27 |
Carried at fair value [Member] | Prepayment estimates and other [Member] | ||
Changes in fair value: | ||
Net changes in valuation model inputs or assumptions | $ (5) | $ 100 |
Mortgage Banking Activities, 91
Mortgage Banking Activities, Analysis of Changes in Amortized MSRs (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Changes in amortized MSRs | ||
Amortization | $ (67) | $ (67) |
Amortized [Member] | ||
Changes in amortized MSRs | ||
Balance, beginning of period | 1,406 | 1,308 |
Purchases | 18 | 21 |
Servicing from securitizations or asset transfers | 45 | 97 |
Amortization | (67) | (67) |
Balance, end of period | 1,402 | 1,359 |
Fair value of amortized MSRs: | ||
Beginning of period | 1,956 | 1,680 |
End of period | 2,051 | 1,725 |
Commercial mortgage servicing [Member] | Amortized [Member] | ||
Mortgage Banking Activities (Textual) [Abstract] | ||
Valuation allowance | $ 0 | $ 0 |
Mortgage Banking Activities, Ma
Mortgage Banking Activities, Managed Servicing Portfolio (Details) - USD ($) $ in Billions | Mar. 31, 2017 | Dec. 31, 2016 |
Components of Managed Servicing Portfolio [Abstract] | ||
Serviced for others | $ 1,678 | $ 1,684 |
Total managed servicing portfolio | $ 2,156 | $ 2,179 |
Ratio of MSRs to related loans serviced for others | 0.87% | 0.85% |
Residential mortgage servicing rights [Member] | ||
Components of Managed Servicing Portfolio [Abstract] | ||
Serviced for others | $ 1,204 | $ 1,205 |
Owned loans serviced | 335 | 347 |
Subserviced for others | 4 | 8 |
Total managed servicing portfolio | 1,543 | 1,560 |
Commercial mortgage servicing [Member] | ||
Components of Managed Servicing Portfolio [Abstract] | ||
Serviced for others | 474 | 479 |
Owned loans serviced | 132 | 132 |
Subserviced for others | 7 | 8 |
Total managed servicing portfolio | $ 613 | $ 619 |
Mortgage Banking Activities, Mo
Mortgage Banking Activities, Mortgage Banking Noninterest Income (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Mortgage Banking Activities [Abstract] | ||
Contractually specified servicing fees | $ 907 | $ 954 |
Late charges | 48 | 48 |
Ancillary fees | 50 | 61 |
Unreimbursed direct servicing costs | (123) | (153) |
Net servicing fees | 882 | 910 |
Changes in fair value of MSRs carried at fair value: | ||
Due to changes in valuation model inputs or assumptions | 174 | (957) |
Changes due to collection/realization of expected cash flows over time | (461) | (491) |
Total changes in fair value of MSRs carried at fair value | (287) | (1,448) |
Amortization | (67) | (67) |
Net derivative gains from economic hedges | (72) | 1,455 |
Total servicing income, net | 456 | 850 |
Net gains on mortgage loan origination/sales activities | 772 | 748 |
Total mortgage banking noninterest income | 1,228 | 1,598 |
Market-related valuation changes to MSRs, net of hedge results | $ 102 | $ 498 |
Mortgage Banking Activities, 94
Mortgage Banking Activities, Analysis of Changes in Liability for Mortgage Loan Repurchase Losses (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Liability For Mortgage Loan Repurchase Losses [Abstract] | ||
Balance, beginning of period | $ 229 | $ 378 |
Provision for repurchase losses: | ||
Loan sales | 8 | 7 |
Change in estimate | (8) | (19) |
Net additions (reductions) | 0 | (12) |
Losses | (7) | (11) |
Balance, end of period | 222 | $ 355 |
Liability For Mortgage Loans Repurchase Losses [Member] | ||
Mortgage Banking Activities (Textual) [Abstract] | ||
Range of possible loss, portion not accrued | $ 155 |
Intangible Assets (Details)
Intangible Assets (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Amortized intangible assets: | ||||
Gross carrying value | $ 20,437 | $ 20,357 | ||
Accumulated amortization | (16,600) | (16,242) | ||
Net carrying value | 3,837 | 4,115 | ||
Unamortized intangible assets: | ||||
Mortgage servicing rights | 13,208 | 12,959 | ||
Goodwill | 26,666 | 26,693 | $ 27,003 | $ 25,529 |
Trademark | 14 | 14 | ||
MSRs [Member] | ||||
Amortized intangible assets: | ||||
Gross carrying value | 3,658 | 3,595 | ||
Accumulated amortization | (2,256) | (2,189) | ||
Net carrying value | 1,402 | 1,406 | ||
Core deposit intangibles [Member] | ||||
Amortized intangible assets: | ||||
Gross carrying value | 12,834 | 12,834 | ||
Accumulated amortization | (11,427) | (11,214) | ||
Net carrying value | 1,407 | 1,620 | ||
Customer relationship and other intangibles [Member] | ||||
Amortized intangible assets: | ||||
Gross carrying value | 3,945 | 3,928 | ||
Accumulated amortization | (2,917) | (2,839) | ||
Net carrying value | $ 1,028 | $ 1,089 |
Intangible Assets, Amortization
Intangible Assets, Amortization Expense (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | ||
Three months ended March 31, 2017 (actual) | $ 289 | $ 293 |
Estimate for the remainder of 2017 | 1,058 | |
Estimate for year ended December 31, | ||
2,018 | 1,287 | |
2,019 | 302 | |
2,020 | 267 | |
2,021 | 229 | |
2,022 | 197 | |
Finite lived intangible assets [Member] | ||
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | ||
Three months ended March 31, 2017 (actual) | 359 | |
Amortized MSRs [Member] | ||
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | ||
Three months ended March 31, 2017 (actual) | 67 | |
Estimate for the remainder of 2017 | 190 | |
Estimate for year ended December 31, | ||
2,018 | 218 | |
2,019 | 194 | |
2,020 | 178 | |
2,021 | 153 | |
2,022 | 134 | |
Core deposit intangibles [Member] | ||
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | ||
Three months ended March 31, 2017 (actual) | 213 | |
Estimate for the remainder of 2017 | 638 | |
Estimate for year ended December 31, | ||
2,018 | 769 | |
2,019 | ||
2,020 | ||
2,021 | ||
2,022 | ||
Customer relationship and other amortized intangibles [Member] | ||
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | ||
Three months ended March 31, 2017 (actual) | 79 | |
Estimate for the remainder of 2017 | 230 | |
Estimate for year ended December 31, | ||
2,018 | 300 | |
2,019 | 108 | |
2,020 | 89 | |
2,021 | 76 | |
2,022 | 63 | |
Lease agreement intangibles [Member] | ||
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | ||
Three months ended March 31, 2017 (actual) | $ 3 |
Intangible Assets, Allocation o
Intangible Assets, Allocation of Goodwill to Operating Segments (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | $ 26,693 | $ 25,529 |
Reduction in goodwill related to divested business and other | (27) | (58) |
Goodwill from business combinations | 1,532 | |
Goodwill, Ending Balance | 26,666 | 27,003 |
Community Banking [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 16,849 | 16,849 |
Reduction in goodwill related to divested business and other | 0 | 0 |
Goodwill from business combinations | 0 | |
Goodwill, Ending Balance | 16,849 | 16,849 |
Wholesale Banking [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 8,585 | 7,475 |
Reduction in goodwill related to divested business and other | (27) | (58) |
Goodwill from business combinations | 1,532 | |
Goodwill, Ending Balance | 8,558 | 8,949 |
Wealth and Investment Management [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 1,259 | 1,205 |
Reduction in goodwill related to divested business and other | 0 | 0 |
Goodwill from business combinations | 0 | |
Goodwill, Ending Balance | $ 1,259 | $ 1,205 |
Guarantees, Pledged Assets an98
Guarantees, Pledged Assets and Collateral (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | ||
Guarantor Obligations [Line Items] | ||||
Carrying value of obligation (asset) | $ (32) | $ 136 | ||
Maximum exposure to loss, expires in one year or less | 29,518 | 27,689 | ||
Maximum exposure to loss, expires in one year through three years | 19,562 | 20,190 | ||
Maximum exposure to loss, expires in three years through five years | 8,640 | 8,732 | ||
Maximum exposure to loss, expires after five years | 16,138 | 15,212 | ||
Maximum exposure to loss | 73,858 | 71,823 | ||
Total assets | [1] | 1,951,564 | 1,930,115 | |
Securities owned and pledged as collateral related to repurchase agreements not available to be repledged, Fair Value | 5,100 | 6,600 | ||
Mortgages held for sale | 9,700 | 15,800 | ||
Carrying value of delinquent loans eligible for repurchase | 888 | 1,200 | ||
Security Owned and Pledged as Collateral, Fair Value [Abstract] | ||||
Trading assets and other | 93,849 | 84,603 | ||
Investment securities | 78,163 | 90,946 | ||
Mortgages held for sale and loans | 506,776 | 516,112 | ||
Total pledged assets | 678,788 | 691,661 | ||
Non-investment grade [Member] | ||||
Guarantor Obligations [Line Items] | ||||
Maximum exposure to loss | 35,662 | 34,167 | ||
Written put options [Member] | ||||
Guarantor Obligations [Line Items] | ||||
Carrying value of obligation (asset) | (129) | 37 | ||
Maximum exposure to loss, expires in one year or less | 12,708 | 10,427 | ||
Maximum exposure to loss, expires in one year through three years | 10,690 | 10,805 | ||
Maximum exposure to loss, expires in three years through five years | 4,354 | 4,573 | ||
Maximum exposure to loss, expires after five years | 1,438 | 1,216 | ||
Maximum exposure to loss | 29,190 | 27,021 | ||
Written put options [Member] | Non-investment grade [Member] | ||||
Guarantor Obligations [Line Items] | ||||
Maximum exposure to loss | 17,870 | 15,915 | ||
Direct pay letters of credit (DPLCs) [Member] | ||||
Guarantor Obligations [Line Items] | ||||
Maximum exposure to loss | 8,800 | 9,200 | ||
Third Party Clearing Indemnifications [Member] | ||||
Guarantor Obligations [Line Items] | ||||
Maximum exposure to loss | 793 | 1,200 | ||
Third-party Clearing Customer Obligations | 75 | 175 | ||
Collateral Provided to Third-party Clearing Agents | 718 | 991 | ||
Standby Letters of Credit [Member] | ||||
Guarantor Obligations [Line Items] | ||||
Carrying value of obligation (asset) | 39 | 38 | ||
Maximum exposure to loss, expires in one year or less | 15,818 | 16,050 | ||
Maximum exposure to loss, expires in one year through three years | 8,319 | 8,727 | ||
Maximum exposure to loss, expires in three years through five years | 3,288 | 3,194 | ||
Maximum exposure to loss, expires after five years | 661 | 658 | ||
Maximum exposure to loss | 28,086 | 28,629 | ||
Standby Letters of Credit [Member] | Non-investment grade [Member] | ||||
Guarantor Obligations [Line Items] | ||||
Maximum exposure to loss | 9,594 | 9,898 | ||
Securities lending and other indemnifications [Member] | ||||
Guarantor Obligations [Line Items] | ||||
Carrying value of obligation (asset) | 0 | 0 | ||
Maximum exposure to loss, expires in one year or less | 0 | 0 | ||
Maximum exposure to loss, expires in one year through three years | 0 | 0 | ||
Maximum exposure to loss, expires in three years through five years | 1 | 1 | ||
Maximum exposure to loss, expires after five years | 793 | 1,166 | ||
Maximum exposure to loss | 794 | 1,167 | ||
Securities lending and other indemnifications [Member] | Non-investment grade [Member] | ||||
Guarantor Obligations [Line Items] | ||||
Maximum exposure to loss | 2 | 2 | ||
Loans and MHFS sold with recourse [Member] | ||||
Guarantor Obligations [Line Items] | ||||
Carrying value of obligation (asset) | 54 | 55 | ||
Maximum exposure to loss, expires in one year or less | 213 | 84 | ||
Maximum exposure to loss, expires in one year through three years | 533 | 637 | ||
Maximum exposure to loss, expires in three years through five years | 980 | 947 | ||
Maximum exposure to loss, expires after five years | 8,739 | 8,592 | ||
Maximum exposure to loss | 10,465 | 10,260 | ||
Loans and MHFS sold with recourse [Member] | Non-investment grade [Member] | ||||
Guarantor Obligations [Line Items] | ||||
Maximum exposure to loss | 7,425 | 7,228 | ||
Factoring guarantee [Member] | ||||
Guarantor Obligations [Line Items] | ||||
Carrying value of obligation (asset) | 0 | 0 | ||
Maximum exposure to loss, expires in one year or less | 766 | 1,109 | ||
Maximum exposure to loss, expires in one year through three years | 0 | 0 | ||
Maximum exposure to loss, expires in three years through five years | 0 | 0 | ||
Maximum exposure to loss, expires after five years | 0 | 0 | ||
Maximum exposure to loss | 766 | 1,109 | ||
Factoring guarantee [Member] | Non-investment grade [Member] | ||||
Guarantor Obligations [Line Items] | ||||
Maximum exposure to loss | 766 | 1,109 | ||
Other guarantees [Member] | ||||
Guarantor Obligations [Line Items] | ||||
Carrying value of obligation (asset) | 4 | 6 | ||
Maximum exposure to loss, expires in one year or less | 13 | 19 | ||
Maximum exposure to loss, expires in one year through three years | 20 | 21 | ||
Maximum exposure to loss, expires in three years through five years | 17 | 17 | ||
Maximum exposure to loss, expires after five years | 4,507 | 3,580 | ||
Maximum exposure to loss | 4,557 | 3,637 | ||
Other guarantees [Member] | Non-investment grade [Member] | ||||
Guarantor Obligations [Line Items] | ||||
Maximum exposure to loss | 5 | 15 | ||
Loans and MHFS sold with recourse [Member] | ||||
Guarantor Obligations [Line Items] | ||||
Loans repurchased | 1 | $ 1 | ||
Trading assets and other [Member] | ||||
Guarantor Obligations [Line Items] | ||||
Securities owned and pledged as collateral available to be repledged, Fair Value | 93,400 | 84,200 | ||
Security Owned and Pledged as Collateral, Fair Value [Abstract] | ||||
Trading assets and other | 31,100 | 33,200 | ||
Other Trading - Off-Balance Sheet [Member] | ||||
Security Owned and Pledged as Collateral, Fair Value [Abstract] | ||||
Trading assets and other | 62,700 | 51,400 | ||
Investment securities [Member] | ||||
Guarantor Obligations [Line Items] | ||||
Securities owned and pledged as collateral available to be repledged, Fair Value | 101 | 617 | ||
Securities owned and pledged as collateral related to repurchase agreements not available to be repledged, carrying value | 4,800 | 6,200 | ||
Securities owned and pledged as collateral related to repurchase agreements not available to be repledged, Fair Value | 4,700 | 6,200 | ||
Consolidated VIEs [Member] | ||||
Guarantor Obligations [Line Items] | ||||
Total assets | 14,157 | 13,414 | ||
Secured Borrowing transactions excluded [Member] | ||||
Guarantor Obligations [Line Items] | ||||
Total assets | $ 988 | $ 1,136 | ||
[1] | Our consolidated assets at March 31, 2017, and December 31, 2016, 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, $128 million and $168 million; Federal funds sold, securities purchased under resale agreements and other short-term investments, $485 million and $74 million; Trading assets, $126 million and $130 million; Investment securities, $0 million at both period ends; Net loans, $13.1 billion and $12.6 billion; Derivative assets, $1 million and $1 million; Other assets, $361 million and $452 million; and Total assets, $14.2 billion and $13.4 billion, respectively. |
Guarantees, Offsetting of Resal
Guarantees, Offsetting of Resale and Repurchase Agreements and Securities Borrowing and Lending (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
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 | $ 5,100 | $ 6,600 |
Net amounts in consolidated balance sheet | 89,532 | 79,443 |
Collateral received, fair value | 120,800 | 102,300 |
Collateral received with the right to sell or repledge | 120,800 | 102,300 |
Collateral sold or repledged | 61,500 | 50,000 |
Collateral pledged, fair value | 98,600 | 91,400 |
Resale and securities borrowing agreements | ||
Gross amounts recognized | 110,061 | 91,123 |
Gross amounts offset in consolidated balance sheet | (20,529) | (11,680) |
Net amounts in consolidated balance sheet | 89,532 | 79,443 |
Collateral not recognized in consolidated balance sheet | (88,755) | (78,837) |
Net amount | 777 | 606 |
Repurchase and securities lending agreements | ||
Gross amounts recognized | 96,273 | 89,111 |
Gross amounts offset in consolidated balance sheet | (20,529) | (11,680) |
Net amounts in consolidated balance sheet | 75,744 | 77,431 |
Collateral pledged but not netted in consolidated balance sheet | (75,505) | (77,184) |
Net amount | 239 | 247 |
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 | 68,300 | 58,100 |
Resale and securities borrowing agreements | ||
Net amounts in consolidated balance sheet | 68,300 | 58,100 |
Loans [Member] | ||
Financial Instruments Owned and Pledged as Collateral [Line Items] | ||
Net amounts in consolidated balance sheet | 21,200 | 21,300 |
Resale and securities borrowing agreements | ||
Net amounts in consolidated balance sheet | $ 21,200 | $ 21,300 |
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 | Mar. 31, 2017 | Dec. 31, 2016 |
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | $ 87,540 | $ 82,104 |
Securities Lending | 8,733 | 7,007 |
Total Repurchases and Securities Lending | 96,273 | 89,111 |
Securities of U.S. Treasury and federal agencies [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 44,376 | 34,335 |
Securities Lending | 130 | 152 |
Securities of U.S. states and political subdivisions [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 106 | 81 |
Federal agencies [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 28,726 | 32,669 |
Securities Lending | 240 | 104 |
Non-Agency Mortgage-backed Securities [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 1,800 | 2,167 |
Securities Lending | 0 | 1 |
Corporate debt securities [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 7,481 | 6,829 |
Securities Lending | 556 | 653 |
Asset-backed Securities [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 2,370 | 3,010 |
Equity Securities [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 1,530 | 1,309 |
Securities Lending | 7,807 | 6,097 |
Other [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 1,151 | 1,704 |
Overnight/Continuous [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 64,530 | 60,516 |
Securities Lending | 7,054 | 5,565 |
Total Repurchases and Securities Lending | 71,584 | 66,081 |
Up to 30 days [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 12,321 | 9,598 |
Securities Lending | 432 | 167 |
Total Repurchases and Securities Lending | 12,753 | 9,765 |
30-90 days [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 5,723 | 6,762 |
Securities Lending | 1,247 | 1,275 |
Total Repurchases and Securities Lending | 6,970 | 8,037 |
Over 90 days [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 4,966 | 5,228 |
Securities Lending | 0 | 0 |
Total Repurchases and Securities Lending | $ 4,966 | $ 5,228 |
Legal Actions (Details)
Legal Actions (Details) | Jul. 13, 2012USD ($) | Mar. 31, 2017USD ($)legal_action | Apr. 20, 2017USD ($) |
In re Interchange Litigation [Member] | |||
Legal Actions (Textual) [Abstract] | |||
Amounts To Be Paid In Connection With Legal Or Regulatory Matters | $ 6,600,000,000 | ||
Litigation Settlement, Default Interchange Distributed To Class Merchants, Distribution Period | 8 months | ||
RMBS Trustee Litigation [Member] | |||
Legal Actions (Textual) [Abstract] | |||
Legal actions, number | legal_action | 4 | ||
Sales Practice Matters [Member] | |||
Legal Actions (Textual) [Abstract] | |||
Legal actions, number | legal_action | 11 | ||
VALoanGuaranty [Member] | |||
Legal Actions (Textual) [Abstract] | |||
Loss Contingency, Number of Plaintiffs | legal_action | 2 | ||
Liability for Contingent Litigation Losses [Member] | |||
Legal Actions (Textual) [Abstract] | |||
Range of possible loss, portion not accrued | $ 2,000,000,000 | ||
Subsequent Event [Member] | Sales Practice Matters [Member] | |||
Legal Actions (Textual) [Abstract] | |||
Amounts To Be Paid In Connection With Legal Or Regulatory Matters | $ 142,000,000 | ||
Minimum [Member] | VALoanGuaranty [Member] | |||
Legal Actions (Textual) [Abstract] | |||
Loss Contingency, Damages Sought, Value | 5,500 | ||
Maximum [Member] | VALoanGuaranty [Member] | |||
Legal Actions (Textual) [Abstract] | |||
Loss Contingency, Damages Sought, Value | $ 11,000 |
Derivatives, Notional or Contra
Derivatives, Notional or Contractual Amounts and Fair Values of Derivatives (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets | $ 79,722 | $ 85,129 |
Fair value derivative assets, netting | (67,158) | (70,631) |
Net amounts in consolidated balance sheet, assets | 12,564 | 14,498 |
Fair value derivative liabilities | 81,738 | 87,188 |
Fair value derivative liabilities, netting | (69,277) | (72,696) |
Net amounts in consolidated balance sheet, liabilities | 12,461 | 14,492 |
Interest rate contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets, netting | (56,813) | (59,880) |
Net amounts in consolidated balance sheet, assets | 6,674 | 5,388 |
Fair value derivative liabilities, netting | (58,885) | (58,956) |
Net amounts in consolidated balance sheet, liabilities | 4,547 | 6,253 |
Commodity contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets, netting | (734) | (707) |
Net amounts in consolidated balance sheet, assets | 1,004 | 2,350 |
Fair value derivative liabilities, netting | (378) | (402) |
Net amounts in consolidated balance sheet, liabilities | 970 | 2,149 |
Equity contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets, netting | (3,123) | (3,018) |
Net amounts in consolidated balance sheet, assets | 3,133 | 2,340 |
Fair value derivative liabilities, netting | (2,939) | (2,433) |
Net amounts in consolidated balance sheet, liabilities | 3,871 | 3,679 |
Foreign exchange contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets, netting | (6,142) | (6,663) |
Net amounts in consolidated balance sheet, assets | 1,576 | 4,231 |
Fair value derivative liabilities, netting | (6,813) | (10,572) |
Net amounts in consolidated balance sheet, liabilities | 2,815 | 2,170 |
Credit Contracts Protection Sold [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets, netting | (54) | (48) |
Net amounts in consolidated balance sheet, assets | 88 | 37 |
Fair value derivative liabilities, netting | (252) | (295) |
Net amounts in consolidated balance sheet, liabilities | 48 | 94 |
Credit Contracts Protection Purchased [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets, netting | (292) | (315) |
Net amounts in consolidated balance sheet, assets | 89 | 152 |
Fair value derivative liabilities, netting | (10) | (38) |
Net amounts in consolidated balance sheet, liabilities | 174 | 100 |
Other contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative liabilities, netting | 0 | 0 |
Net amounts in consolidated balance sheet, liabilities | 36 | 47 |
Designated as Hedging Instrument [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets | 6,450 | 7,260 |
Fair value derivative liabilities | 5,432 | 5,489 |
Designated as Hedging Instrument [Member] | Interest rate contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 243,374 | 235,222 |
Fair value derivative assets | 5,910 | 6,587 |
Fair value derivative liabilities | 2,876 | 2,710 |
Designated as Hedging Instrument [Member] | Foreign exchange contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 27,692 | 25,861 |
Fair value derivative assets | 540 | 673 |
Fair value derivative liabilities | 2,556 | 2,779 |
Not Designated as Hedging Instrument [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets | 73,272 | 77,869 |
Fair value derivative liabilities | 76,306 | 81,699 |
Not Designated as Hedging Instrument [Member] | Economic hedges [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets | 1,348 | 2,371 |
Fair value derivative liabilities | 788 | 1,689 |
Not Designated as Hedging Instrument [Member] | Customer accommodation trading, and other derivatives [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets | 71,924 | 75,498 |
Fair value derivative liabilities | 75,518 | 80,010 |
Not Designated as Hedging Instrument [Member] | Interest rate contract [Member] | Economic hedges [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 222,692 | 228,051 |
Fair value derivative assets | 547 | 1,098 |
Fair value derivative liabilities | 548 | 1,441 |
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 | 7,231,404 | 6,018,370 |
Fair value derivative assets | 57,030 | 57,583 |
Fair value derivative liabilities | 60,008 | 61,058 |
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 | 63,882 | 65,532 |
Fair value derivative assets | 1,738 | 3,057 |
Fair value derivative liabilities | 1,348 | 2,551 |
Not Designated as Hedging Instrument [Member] | Equity contract [Member] | Economic hedges [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 9,036 | 7,964 |
Fair value derivative assets | 586 | 545 |
Fair value derivative liabilities | 98 | 83 |
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 | 174,984 | 151,675 |
Fair value derivative assets | 5,670 | 4,813 |
Fair value derivative liabilities | 6,712 | 6,029 |
Not Designated as Hedging Instrument [Member] | Foreign exchange contract [Member] | Economic hedges [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 17,308 | 20,435 |
Fair value derivative assets | 130 | 626 |
Fair value derivative liabilities | 142 | 165 |
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 | 325,923 | 318,999 |
Fair value derivative assets | 7,048 | 9,595 |
Fair value derivative liabilities | 6,930 | 9,798 |
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 | 10,601 | 10,483 |
Fair value derivative assets | 142 | 85 |
Fair value derivative liabilities | 300 | 389 |
Not Designated as Hedging Instrument [Member] | Credit Contracts Protection Purchased [Member] | Economic hedges [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 161 | 482 |
Fair value derivative assets | 85 | 102 |
Fair value derivative liabilities | 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 | 19,652 | 19,964 |
Fair value derivative assets | 296 | 365 |
Fair value derivative liabilities | 184 | 138 |
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 | 977 | 961 |
Fair value derivative assets | 0 | 0 |
Fair value derivative liabilities | 36 | 47 |
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 | $ 9,800 | $ 9,600 |
Derivatives, Gross Fair Value o
Derivatives, Gross Fair Value of Derivative Assets and Liabilities (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Derivative Assets | ||
Gross amounts recognized | $ 79,722 | $ 85,129 |
Gross amounts offset in consolidated balance sheet | (67,158) | (70,631) |
Net amounts in consolidated balance sheet, assets | 12,564 | 14,498 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (712) | (1,745) |
Net amounts | 11,852 | 12,753 |
Derivative Liabilities | ||
Gross amounts recognized | 81,738 | 87,188 |
Gross amounts offset in consolidated balance sheet, liabilities | (69,277) | (72,696) |
Net amounts in consolidated balance sheet, liabilities | 12,461 | 14,492 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (3,378) | (3,794) |
Net amounts | 9,083 | 10,698 |
Derivatives (Textual) [Abstract] | ||
Derivative assets subject to enforceable master netting arrangements | 70,500 | 74,400 |
Derivative liabilities subject to enforceable master netting arrangements | 75,500 | 78,400 |
Derivative assets not subject to enforceable master netting arrangements | 9,200 | 10,700 |
Derivative liabilities not subject to enforceable master netting arrangements | 6,200 | 8,700 |
Valuation adjustments for derivative assets | 288 | 348 |
Valuation adjustments for derivative liabilities | 99 | 114 |
Cash collateral netted against derivative assets | 3,700 | 4,800 |
Cash collateral netted against derivative liabilities | 6,000 | 7,100 |
Interest rate contract [Member] | ||
Derivative Assets | ||
Gross amounts recognized | 63,487 | 65,268 |
Gross amounts offset in consolidated balance sheet | (56,813) | (59,880) |
Net amounts in consolidated balance sheet, assets | 6,674 | 5,388 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (355) | (987) |
Net amounts | $ 6,319 | $ 4,401 |
Percent exchanged in the over the counter market | 31.00% | 34.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 63,432 | $ 65,209 |
Gross amounts offset in consolidated balance sheet, liabilities | (58,885) | (58,956) |
Net amounts in consolidated balance sheet, liabilities | 4,547 | 6,253 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (2,038) | (3,129) |
Net amounts | $ 2,509 | $ 3,124 |
Percent exchanged in over-the-counter market | 27.00% | 30.00% |
Commodity contract [Member] | ||
Derivative Assets | ||
Gross amounts recognized | $ 1,738 | $ 3,057 |
Gross amounts offset in consolidated balance sheet | (734) | (707) |
Net amounts in consolidated balance sheet, assets | 1,004 | 2,350 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (6) | (30) |
Net amounts | $ 998 | $ 2,320 |
Percent exchanged in the over the counter market | 87.00% | 74.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 1,348 | $ 2,551 |
Gross amounts offset in consolidated balance sheet, liabilities | (378) | (402) |
Net amounts in consolidated balance sheet, liabilities | 970 | 2,149 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (33) | (37) |
Net amounts | $ 937 | $ 2,112 |
Percent exchanged in over-the-counter market | 83.00% | 38.00% |
Equity contract [Member] | ||
Derivative Assets | ||
Gross amounts recognized | $ 6,256 | $ 5,358 |
Gross amounts offset in consolidated balance sheet | (3,123) | (3,018) |
Net amounts in consolidated balance sheet, assets | 3,133 | 2,340 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (328) | (365) |
Net amounts | $ 2,805 | $ 1,975 |
Percent exchanged in the over the counter market | 71.00% | 75.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 6,810 | $ 6,112 |
Gross amounts offset in consolidated balance sheet, liabilities | (2,939) | (2,433) |
Net amounts in consolidated balance sheet, liabilities | 3,871 | 3,679 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (451) | (331) |
Net amounts | $ 3,420 | $ 3,348 |
Percent exchanged in over-the-counter market | 83.00% | 85.00% |
Foreign exchange contract [Member] | ||
Derivative Assets | ||
Gross amounts recognized | $ 7,718 | $ 10,894 |
Gross amounts offset in consolidated balance sheet | (6,142) | (6,663) |
Net amounts in consolidated balance sheet, assets | 1,576 | 4,231 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (22) | (362) |
Net amounts | $ 1,554 | $ 3,869 |
Percent exchanged in the over the counter market | 96.00% | 97.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 9,628 | $ 12,742 |
Gross amounts offset in consolidated balance sheet, liabilities | (6,813) | (10,572) |
Net amounts in consolidated balance sheet, liabilities | 2,815 | 2,170 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (783) | (251) |
Net amounts | $ 2,032 | $ 1,919 |
Percent exchanged in over-the-counter market | 99.00% | 100.00% |
Credit Contracts Protection Sold [Member] | ||
Derivative Assets | ||
Gross amounts recognized | $ 142 | $ 85 |
Gross amounts offset in consolidated balance sheet | (54) | (48) |
Net amounts in consolidated balance sheet, assets | 88 | 37 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | 0 | 0 |
Net amounts | $ 88 | $ 37 |
Percent exchanged in the over the counter market | 19.00% | 61.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 300 | $ 389 |
Gross amounts offset in consolidated balance sheet, liabilities | (252) | (295) |
Net amounts in consolidated balance sheet, liabilities | 48 | 94 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (40) | (44) |
Net amounts | $ 8 | $ 50 |
Percent exchanged in over-the-counter market | 96.00% | 98.00% |
Credit Contracts Protection Purchased [Member] | ||
Derivative Assets | ||
Gross amounts recognized | $ 381 | $ 467 |
Gross amounts offset in consolidated balance sheet | (292) | (315) |
Net amounts in consolidated balance sheet, assets | 89 | 152 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (1) | (1) |
Net amounts | $ 88 | $ 151 |
Percent exchanged in the over the counter market | 99.00% | 98.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 184 | $ 138 |
Gross amounts offset in consolidated balance sheet, liabilities | (10) | (38) |
Net amounts in consolidated balance sheet, liabilities | 174 | 100 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (33) | (2) |
Net amounts | $ 141 | $ 98 |
Percent exchanged in over-the-counter market | 14.00% | 50.00% |
Other contract [Member] | ||
Derivative Liabilities | ||
Gross amounts recognized | $ 36 | $ 47 |
Gross amounts offset in consolidated balance sheet, liabilities | 0 | 0 |
Net amounts in consolidated balance sheet, liabilities | 36 | 47 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | 0 | 0 |
Net amounts | $ 36 | $ 47 |
Percent exchanged in over-the-counter market | 100.00% | 100.00% |
Derivatives, Derivatives in Fai
Derivatives, Derivatives in Fair Value Hedging Relationships (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Net Gains Losses Recognized In Income Statement Related To Derivatives In Fair Value Hedging Relationships [Abstract] | ||
Net interest income (expense) recognized on derivatives (1) | $ 265 | $ 315 |
Gains (losses) recorded in noninterest income recognized on derivatives | (324) | 2,935 |
Gains (losses) recorded in noninterest income recognized on hedged item | 132 | (2,426) |
Net recognized on fair value hedges (ineffective portion) | (192) | 509 |
Derivatives (Textual) [Abstract] | ||
Time value component recognized as net interest income (expense) on forward derivatives excluded from the assessment of hedge effectiveness | (1) | (4) |
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 (1) | (131) | (181) |
Gains (losses) recorded in noninterest income recognized on derivatives | 126 | (1,683) |
Gains (losses) recorded in noninterest income recognized on hedged item | (141) | 1,691 |
Net recognized on fair value hedges (ineffective portion) | (15) | 8 |
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 (1) | 4 | 0 |
Gains (losses) recorded in noninterest income recognized on derivatives | (42) | (66) |
Gains (losses) recorded in noninterest income recognized on hedged item | 44 | 59 |
Net recognized on fair value hedges (ineffective portion) | 2 | (7) |
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 (1) | (2) | (2) |
Gains (losses) recorded in noninterest income recognized on derivatives | (1) | (37) |
Gains (losses) recorded in noninterest income recognized on hedged item | 0 | 33 |
Net recognized on fair value hedges (ineffective portion) | (1) | (4) |
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 (1) | 427 | 482 |
Gains (losses) recorded in noninterest income recognized on derivatives | (564) | 3,103 |
Gains (losses) recorded in noninterest income recognized on hedged item | 540 | (2,807) |
Net recognized on fair value hedges (ineffective portion) | (24) | 296 |
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 (1) | (33) | 16 |
Gains (losses) recorded in noninterest income recognized on derivatives | 157 | 1,618 |
Gains (losses) recorded in noninterest income recognized on hedged item | (311) | (1,402) |
Net recognized on fair value hedges (ineffective portion) | $ (154) | $ 216 |
Derivatives, Derivatives in Cas
Derivatives, Derivatives in Cash Flow Hedging Relationships (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Net Gains Losses Recognized Related to Derivatives in Cash Flow Hedging Relationships [Abstract] | ||
Gains (losses) (pre tax) recognized in OCI on derivatives | $ (133) | $ 1,999 |
Gains (pre tax) reclassified from cumulative OCI into net income | 202 | 256 |
Gains (losses) (pre tax) recognized in noninterest income for hedge ineffectiveness. | (3) | 1 |
Derivatives (Textual) [Abstract] | ||
Deferred net gains on derivatives in other comprehensive income | $ 416 | |
Maximum length of time hedged in cash flow hedge | 6 years | |
Change in value of derivatives excluded from assessment of cash flow hedge effectiveness | $ 0 | $ 0 |
Derivatives, Derivatives Not De
Derivatives, Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Derivatives (Textual) [Abstract] | |||
Gains (losses) on derivatives used to hedge residential mortgage servicing rights | $ (72) | $ 1,455 | |
Aggregate fair value of derivatives used for economic hedges net asset (liability) | 228 | $ (617) | |
Aggregate fair value of derivative loan commitments net asset (liability) | 113 | $ (6) | |
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 | (1,202) | 920 | |
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 | (573) | 647 | |
Derivatives (Textual) [Abstract] | |||
Derivative Instruments Not Designated as Hedging Instruments, Loss | (131) | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain | 2 | ||
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 | (629) | 273 | |
Not Designated as Hedging Instrument [Member] | Interest Rate Contracts, Mortgage Banking [ 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 | (9) | 865 | |
Not Designated as Hedging Instrument [Member] | Interest Rate Contracts, Mortgage Banking [ 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 | 193 | 465 | |
Not Designated as Hedging Instrument [Member] | Interest Rate Contracts, Other | 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 | 6 | (135) | |
Not Designated as Hedging Instrument [Member] | Interest Rate Contracts, Other | 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 | 45 | (450) | |
Not Designated as Hedging Instrument [Member] | Commodity contract [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 | 60 | 53 | |
Not Designated as Hedging Instrument [Member] | Equity contract [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 | (481) | 83 | |
Not Designated as Hedging Instrument [Member] | Equity contract [Member] | Customer accommodation trading, and other derivatives [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (1,109) | 20 | |
Not Designated as Hedging Instrument [Member] | Foreign exchange contract [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 | (93) | (166) | |
Not Designated as Hedging Instrument [Member] | Foreign exchange contract [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 | 185 | 222 | |
Not Designated as Hedging Instrument [Member] | Credit contract [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 | 4 | 0 | |
Not Designated as Hedging Instrument [Member] | Credit contract [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 | (15) | (16) | |
Not Designated as Hedging Instrument [Member] | Other contract [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 | $ 12 | $ (21) |
Derivatives, Sold and Purchased
Derivatives, Sold and Purchased Credit Derivatives (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value liability | $ 300 | $ 389 |
Notional amount Protection sold | 10,601 | 10,483 |
Notional amount Protection purchased with identical underlyings | 3,564 | 4,118 |
Notional Net protection sold | 7,037 | 6,365 |
Notional Other protection purchased | 16,249 | 16,328 |
Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | 5,984 | 5,862 |
Corporate bonds [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value liability | 15 | 22 |
Notional amount Protection sold | 3,306 | 4,324 |
Notional amount Protection purchased with identical underlyings | 2,577 | 3,060 |
Notional Net protection sold | 729 | 1,264 |
Notional Other protection purchased | $ 1,024 | $ 1,804 |
Corporate bonds [Member] | Minimum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Jan. 1, 2017 | Jan. 1, 2017 |
Corporate bonds [Member] | Maximum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Dec. 31, 2026 | Dec. 31, 2026 |
Corporate bonds [Member] | Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | $ 1,645 | $ 1,704 |
Structured products [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value liability | 141 | 193 |
Notional amount Protection sold | 306 | 405 |
Notional amount Protection purchased with identical underlyings | 245 | 295 |
Notional Net protection sold | 61 | 110 |
Notional Other protection purchased | $ 209 | $ 79 |
Structured products [Member] | Minimum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Jan. 1, 2020 | Jan. 1, 2020 |
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 | $ 271 | $ 333 |
Credit default swap [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value liability | 0 | 0 |
Notional amount Protection sold | 3,043 | 1,515 |
Notional amount Protection purchased with identical underlyings | 241 | 139 |
Notional Net protection sold | 2,802 | 1,376 |
Notional Other protection purchased | $ 4,168 | $ 3,668 |
Credit default swap [Member] | Minimum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Jan. 1, 2017 | Jan. 1, 2017 |
Credit default swap [Member] | Maximum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Dec. 31, 2027 | Dec. 31, 2021 |
Credit default swap [Member] | Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | $ 665 | $ 257 |
Commercial Mortgage Backed Securities [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value liability | 126 | 156 |
Notional amount Protection sold | 499 | 627 |
Notional amount Protection purchased with identical underlyings | 461 | 584 |
Notional Net protection sold | 38 | 43 |
Notional Other protection purchased | $ 66 | $ 71 |
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, 2058 |
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 | 17 | 17 |
Notional amount Protection sold | 44 | 45 |
Notional amount Protection purchased with identical underlyings | 40 | 40 |
Notional Net protection sold | 4 | 5 |
Notional Other protection purchased | $ 5 | $ 187 |
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 | 1 | 1 |
Notional amount Protection sold | 3,403 | 3,567 |
Notional amount Protection purchased with identical underlyings | 0 | 0 |
Notional Net protection sold | 3,403 | 3,567 |
Notional Other protection purchased | $ 10,777 | $ 10,519 |
Other Credit Derivatives [Member] | Minimum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Jan. 1, 2017 | Jan. 1, 2017 |
Other Credit Derivatives [Member] | Maximum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Dec. 31, 2028 | Dec. 31, 2047 |
Other Credit Derivatives [Member] | Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | $ 3,403 | $ 3,568 |
Derivatives Credit-Risk Conting
Derivatives Credit-Risk Contingent Feature Textuals (Details) - USD ($) $ in Billions | Mar. 31, 2017 | Dec. 31, 2016 |
Derivatives [Abstract] | ||
Aggregate fair value of derivative instruments with credit-risk-related contingent features, net liability | $ 11.3 | $ 12.8 |
Collateral for derivative instruments with credit-risk-related contingent features | 8.3 | 8.9 |
Additional collateral for derivative instruments with credit-risk-related contingent features | $ 3 | $ 4 |
Fair Value, Measurements From B
Fair Value, Measurements From Brokers or Third Party Pricing Services (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Financial assets | ||
Available-for-sale Securities | $ 299,530 | $ 308,364 |
Derivatives assets | 79,722 | 85,129 |
Financial liabilities | ||
Derivatives liabilities | (81,738) | (87,188) |
Brokers [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial assets | ||
Trading assets | 0 | 0 |
Available-for-sale Securities | 0 | 0 |
Derivatives 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 | 0 | 0 |
Available-for-sale Securities | 846 | 621 |
Derivatives 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 | 621 |
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 | 69 | 171 |
Brokers [Member] | Fair Value, Inputs, Level 2 [Member] | Other debt securities | ||
Financial assets | ||
Available-for-sale Securities | 777 | 450 |
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 | 0 | 0 |
Available-for-sale Securities | 861 | 968 |
Derivatives 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 | 861 | 968 |
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 | 861 | 968 |
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 | 648 | 899 |
Available-for-sale Securities | 21,672 | 22,870 |
Derivatives assets | 25 | 22 |
Financial liabilities | ||
Derivatives liabilities | (21) | (109) |
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 | 21,672 | 22,870 |
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 | 21,672 | 22,870 |
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 | 55 | 60 |
Available-for-sale Securities | 271,284 | 279,229 |
Derivatives assets | 7 | 0 |
Financial liabilities | ||
Derivatives liabilities | (2) | (1) |
Other liabilities (2) | 0 | 0 |
Third party pricing services [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | ||
Financial assets | ||
Available-for-sale Securities | 270,991 | 278,871 |
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 | 2,953 | 2,949 |
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 | 50,701 | 49,837 |
Third party pricing services [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-Backed Securities [Member] | ||
Financial assets | ||
Available-for-sale Securities | 170,540 | 176,923 |
Third party pricing services [Member] | Fair Value, Inputs, Level 2 [Member] | Other debt securities | ||
Financial assets | ||
Available-for-sale Securities | 46,797 | 49,162 |
Third party pricing services [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | ||
Financial assets | ||
Available-for-sale Securities | 293 | 358 |
Third party pricing services [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial assets | ||
Trading assets | 0 | 0 |
Available-for-sale Securities | 553 | 354 |
Derivatives 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 | 553 | 354 |
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 | 214 | 208 |
Third party pricing services [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-Backed Securities [Member] | ||
Financial assets | ||
Available-for-sale Securities | 89 | 92 |
Third party pricing services [Member] | Fair Value, Inputs, Level 3 [Member] | Other debt securities | ||
Financial assets | ||
Available-for-sale Securities | 250 | 54 |
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 | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading Securities, Change in Unrealized Holding Gain (Loss) | $ 587 | $ 572 | $ 820 |
Assets: | |||
Available-for-sale Securities | 299,530 | 308,364 | |
Mortgages held for sale | 14,018 | 22,042 | |
Loans | 505 | 758 | |
Mortgage servicing rights | 13,208 | 12,959 | |
Derivatives assets | 79,722 | 85,129 | |
Net amounts in consolidated balance sheet, assets | 12,564 | 14,498 | |
Other assets, carried at fair value (excluding nonmarketable equity investments at NAV) | 3,780 | 3,275 | |
Investment Measured at NAV | 16 | 48 | |
Liabilities: | |||
Total derivative liabilities | (81,738) | (87,188) | |
Fair value liability derivatives, net | (12,461) | (14,492) | |
Collateralized Debt Obligations [Member] | |||
Assets: | |||
Available-for-sale Securities | 945 | 847 | |
Interest rate contract [Member] | |||
Assets: | |||
Net amounts in consolidated balance sheet, assets | 6,674 | 5,388 | |
Liabilities: | |||
Fair value liability derivatives, net | (4,547) | (6,253) | |
Commodity contract [Member] | |||
Assets: | |||
Net amounts in consolidated balance sheet, assets | 1,004 | 2,350 | |
Liabilities: | |||
Fair value liability derivatives, net | (970) | (2,149) | |
Equity contract [Member] | |||
Assets: | |||
Net amounts in consolidated balance sheet, assets | 3,133 | 2,340 | |
Liabilities: | |||
Fair value liability derivatives, net | (3,871) | (3,679) | |
Foreign exchange contract [Member] | |||
Assets: | |||
Net amounts in consolidated balance sheet, assets | 1,576 | 4,231 | |
Liabilities: | |||
Fair value liability derivatives, net | (2,815) | (2,170) | |
Other contract [Member] | |||
Liabilities: | |||
Fair value liability derivatives, net | (36) | (47) | |
Fair Value, Measurements, Recurring [Member] | |||
Assets: | |||
Trading assets | 79,171 | 73,032 | |
Total trading assets | 80,326 | 74,397 | |
Available-for-sale Securities | 299,530 | 308,364 | |
Mortgages held for sale | 14,018 | 22,042 | |
Loans | 505 | 758 | |
Mortgage servicing rights | 13,208 | 12,959 | |
Fair value asset derivatives, netting | (67,158) | (70,631) | |
Net amounts in consolidated balance sheet, assets | 12,564 | 14,498 | |
Other assets, carried at fair value (excluding nonmarketable equity investments at NAV) | 3,780 | 3,275 | |
Liabilities: | |||
Fair value liability derivatives, netting | 69,277 | 72,696 | |
Fair value liability derivatives, net | (12,461) | (14,492) | |
Total short sale liabilities | (19,982) | (16,379) | |
Other liabilities (2) | (4) | (4) | |
Total liabilities recorded at fair value | (32,447) | (30,875) | |
Fair Value, Measurements, Recurring [Member] | Interest rate contract [Member] | |||
Assets: | |||
Derivatives assets | 63,487 | 65,268 | |
Liabilities: | |||
Total derivative liabilities | (63,432) | (65,209) | |
Fair Value, Measurements, Recurring [Member] | Commodity contract [Member] | |||
Assets: | |||
Derivatives assets | 1,738 | 3,057 | |
Liabilities: | |||
Total derivative liabilities | (1,348) | (2,551) | |
Fair Value, Measurements, Recurring [Member] | Equity contract [Member] | |||
Assets: | |||
Derivatives assets | 6,256 | 5,358 | |
Liabilities: | |||
Total derivative liabilities | (6,810) | (6,112) | |
Fair Value, Measurements, Recurring [Member] | Foreign exchange contract [Member] | |||
Assets: | |||
Derivatives assets | 7,718 | 10,894 | |
Liabilities: | |||
Total derivative liabilities | (9,628) | (12,742) | |
Fair Value, Measurements, Recurring [Member] | Credit contract [Member] | |||
Assets: | |||
Derivatives assets | 523 | 552 | |
Liabilities: | |||
Total derivative liabilities | (484) | (527) | |
Fair Value, Measurements, Recurring [Member] | Other contract [Member] | |||
Liabilities: | |||
Total derivative liabilities | (36) | (47) | |
Fair Value, Measurements, Recurring [Member] | Debt Securities [Member] | |||
Assets: | |||
Available-for-sale Securities | 298,405 | 307,153 | |
Fair Value, Measurements, Recurring [Member] | Securities of U.S. Treasury and federal agencies [Member] | |||
Assets: | |||
Trading assets | 15,805 | 17,660 | |
Available-for-sale Securities | 24,625 | 25,819 | |
Liabilities: | |||
Total short sale liabilities | (12,973) | (10,423) | |
Fair Value, Measurements, Recurring [Member] | Securities of U.S. states and political subdivisions [Member] | |||
Assets: | |||
Trading assets | 3,333 | 2,913 | |
Available-for-sale Securities | 52,061 | 51,101 | |
Fair Value, Measurements, Recurring [Member] | Collateralized Loan Obligations [Member] | |||
Assets: | |||
Trading assets | 824 | 810 | |
Available-for-sale Securities | 34,009 | 35,020 | |
Fair Value, Measurements, Recurring [Member] | Corporate debt securities [Member] | |||
Assets: | |||
Trading assets | 9,289 | 9,515 | |
Available-for-sale Securities | 10,430 | 11,457 | |
Liabilities: | |||
Total short sale liabilities | (4,712) | (4,063) | |
Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities [Member] | |||
Assets: | |||
Trading assets | 20,466 | 20,254 | |
Available-for-sale Securities | 171,199 | 177,548 | |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Assets: | |||
Available-for-sale Securities | 156,966 | 161,230 | |
Fair Value, Measurements, Recurring [Member] | Residential [Member] | |||
Assets: | |||
Available-for-sale Securities | 7,593 | 7,816 | |
Fair Value, Measurements, Recurring [Member] | Commercial [Member] | |||
Assets: | |||
Available-for-sale Securities | 6,640 | 8,502 | |
Fair Value, Measurements, Recurring [Member] | Asset-backed securities [Member] | |||
Assets: | |||
Trading assets | 794 | 1,128 | |
Available-for-sale Securities | 6,080 | 6,207 | |
Fair Value, Measurements, Recurring [Member] | Auto loans and leases [Member] | |||
Assets: | |||
Available-for-sale Securities | 11 | 9 | |
Fair Value, Measurements, Recurring [Member] | Home equity loans [Member] | |||
Assets: | |||
Available-for-sale Securities | 319 | 327 | |
Fair Value, Measurements, Recurring [Member] | Other asset-backed securities [Member] | |||
Assets: | |||
Available-for-sale Securities | 5,750 | 5,871 | |
Fair Value, Measurements, Recurring [Member] | Other trading assets [Member] | |||
Assets: | |||
Other trading assets | 1,155 | 1,365 | |
Fair Value, Measurements, Recurring [Member] | Other debt securities | |||
Assets: | |||
Available-for-sale Securities | 1 | 1 | |
Fair Value, Measurements, Recurring [Member] | Other short sale liabilities [Member] | |||
Liabilities: | |||
Total short sale liabilities | (51) | (98) | |
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | |||
Assets: | |||
Trading assets | 28,660 | 20,752 | |
Available-for-sale Securities | 1,125 | 1,211 | |
Liabilities: | |||
Total short sale liabilities | (2,246) | (1,795) | |
Fair Value, Measurements, Recurring [Member] | Perpetual preferred securities [Member] | |||
Assets: | |||
Available-for-sale Securities | 482 | 469 | |
Fair Value, Measurements, Recurring [Member] | Other marketable equity securities [Member] | |||
Assets: | |||
Available-for-sale Securities | 643 | 742 | |
Fair Value, Measurements, Recurring [Member] | Excluding NAV Investments [Member] | |||
Assets: | |||
Total assets recorded at fair value | 423,931 | 436,293 | |
Fair Value, Measurements, Recurring [Member] | Including NAV Investments [Member] | |||
Assets: | |||
Total assets recorded at fair value | 423,931 | 436,293 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Assets: | |||
Trading assets | 40,783 | 35,412 | |
Total trading assets | 40,783 | 35,412 | |
Available-for-sale Securities | 22,564 | 23,781 | |
Mortgages held for sale | 0 | 0 | |
Loans | 0 | 0 | |
Mortgage servicing rights | 0 | 0 | |
Fair value asset derivatives, netting | 0 | 0 | |
Net amounts in consolidated balance sheet, assets | 1,861 | 1,380 | |
Other assets, carried at fair value (excluding nonmarketable equity investments at NAV) | 0 | 0 | |
Total assets recorded at fair value | 65,208 | 60,573 | |
Liabilities: | |||
Fair value liability derivatives, netting | 0 | 0 | |
Fair value liability derivatives, net | (1,204) | (1,073) | |
Total short sale liabilities | (14,410) | (11,517) | |
Other liabilities (2) | 0 | 0 | |
Total liabilities recorded at fair value | (15,614) | (12,590) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Interest rate contract [Member] | |||
Assets: | |||
Derivatives assets | 28 | 44 | |
Liabilities: | |||
Total derivative liabilities | (19) | (45) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Commodity contract [Member] | |||
Assets: | |||
Derivatives 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 assets | 1,808 | 1,314 | |
Liabilities: | |||
Total derivative liabilities | (1,164) | (919) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Foreign exchange contract [Member] | |||
Assets: | |||
Derivatives assets | 25 | 22 | |
Liabilities: | |||
Total derivative liabilities | (21) | (109) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Credit contract [Member] | |||
Assets: | |||
Derivatives 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 | 21,732 | 22,928 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Securities of U.S. Treasury and federal agencies [Member] | |||
Assets: | |||
Trading assets | 12,369 | 14,950 | |
Available-for-sale Securities | 21,672 | 22,870 | |
Liabilities: | |||
Total short sale liabilities | (12,164) | (9,722) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Securities of U.S. states and political subdivisions [Member] | |||
Assets: | |||
Trading assets | 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 | 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 | 0 | 0 | |
Available-for-sale Securities | 60 | 58 | |
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 | 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 | 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 | 28,414 | 20,462 | |
Available-for-sale Securities | 832 | 853 | |
Liabilities: | |||
Total short sale liabilities | (2,246) | (1,795) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Perpetual preferred securities [Member] | |||
Assets: | |||
Available-for-sale Securities | 190 | 112 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other marketable equity securities [Member] | |||
Assets: | |||
Available-for-sale Securities | 642 | 741 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Assets: | |||
Trading assets | 37,950 | 37,274 | |
Total trading assets | 39,079 | 38,611 | |
Available-for-sale Securities | 273,316 | 281,078 | |
Mortgages held for sale | 13,061 | 21,057 | |
Loans | 0 | 0 | |
Mortgage servicing rights | 0 | 0 | |
Fair value asset derivatives, netting | 0 | 0 | |
Net amounts in consolidated balance sheet, assets | 76,094 | 82,126 | |
Other assets, carried at fair value (excluding nonmarketable equity investments at NAV) | 40 | 16 | |
Total assets recorded at fair value | 401,590 | 422,888 | |
Liabilities: | |||
Fair value liability derivatives, netting | 0 | 0 | |
Fair value liability derivatives, net | (78,759) | (84,411) | |
Total short sale liabilities | (5,572) | (4,862) | |
Other liabilities (2) | 0 | 0 | |
Total liabilities recorded at fair value | (84,331) | (89,273) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest rate contract [Member] | |||
Assets: | |||
Derivatives assets | 63,205 | 64,986 | |
Liabilities: | |||
Total derivative liabilities | (63,377) | (65,047) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commodity contract [Member] | |||
Assets: | |||
Derivatives assets | 1,701 | 3,020 | |
Liabilities: | |||
Total derivative liabilities | (1,330) | (2,537) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Equity contract [Member] | |||
Assets: | |||
Derivatives assets | 3,215 | 2,997 | |
Liabilities: | |||
Total derivative liabilities | (4,114) | (3,879) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Foreign exchange contract [Member] | |||
Assets: | |||
Derivatives assets | 7,679 | 10,843 | |
Liabilities: | |||
Total derivative liabilities | (9,596) | (12,616) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Credit contract [Member] | |||
Assets: | |||
Derivatives assets | 294 | 280 | |
Liabilities: | |||
Total derivative liabilities | (342) | (332) | |
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 | 273,023 | 280,720 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Securities of U.S. Treasury and federal agencies [Member] | |||
Assets: | |||
Trading assets | 3,436 | 2,710 | |
Available-for-sale Securities | 2,953 | 2,949 | |
Liabilities: | |||
Total short sale liabilities | (809) | (701) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Securities of U.S. states and political subdivisions [Member] | |||
Assets: | |||
Trading assets | 3,330 | 2,910 | |
Available-for-sale Securities | 50,701 | 49,961 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Collateralized Loan Obligations [Member] | |||
Assets: | |||
Trading assets | 426 | 501 | |
Available-for-sale Securities | 33,045 | 34,141 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate debt securities [Member] | |||
Assets: | |||
Trading assets | 9,252 | 9,481 | |
Available-for-sale Securities | 9,979 | 10,967 | |
Liabilities: | |||
Total short sale liabilities | (4,712) | (4,063) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-Backed Securities [Member] | |||
Assets: | |||
Trading assets | 20,466 | 20,254 | |
Available-for-sale Securities | 171,109 | 177,456 | |
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 | 156,966 | 161,230 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Residential [Member] | |||
Assets: | |||
Available-for-sale Securities | 7,592 | 7,815 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commercial [Member] | |||
Assets: | |||
Available-for-sale Securities | 6,551 | 8,411 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Asset-backed securities [Member] | |||
Assets: | |||
Trading assets | 794 | 1,128 | |
Available-for-sale Securities | 5,235 | 5,245 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Auto loans and leases [Member] | |||
Assets: | |||
Available-for-sale Securities | 11 | 9 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Home equity loans [Member] | |||
Assets: | |||
Available-for-sale Securities | 319 | 327 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other asset-backed securities [Member] | |||
Assets: | |||
Available-for-sale Securities | 4,905 | 4,909 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other trading assets [Member] | |||
Assets: | |||
Other trading assets | 1,129 | 1,337 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other debt securities | |||
Assets: | |||
Available-for-sale Securities | 1 | 1 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other short sale liabilities [Member] | |||
Liabilities: | |||
Total short sale liabilities | (51) | (98) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | |||
Assets: | |||
Trading assets | 246 | 290 | |
Available-for-sale Securities | 293 | 358 | |
Liabilities: | |||
Total short sale liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Perpetual preferred securities [Member] | |||
Assets: | |||
Available-for-sale Securities | 292 | 357 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other marketable equity securities [Member] | |||
Assets: | |||
Available-for-sale Securities | 1 | 1 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Assets: | |||
Trading assets | 438 | 346 | |
Total trading assets | 464 | 374 | |
Available-for-sale Securities | 3,650 | 3,505 | |
Mortgages held for sale | 957 | 985 | |
Loans | 505 | 758 | |
Mortgage servicing rights | 13,208 | 12,959 | |
Fair value asset derivatives, netting | 0 | 0 | |
Net amounts in consolidated balance sheet, assets | 1,767 | 1,623 | |
Other assets, carried at fair value (excluding nonmarketable equity investments at NAV) | 3,740 | 3,259 | |
Total assets recorded at fair value | 24,291 | 23,463 | |
Liabilities: | |||
Fair value liability derivatives, netting | 0 | 0 | |
Fair value liability derivatives, net | (1,775) | (1,704) | |
Total short sale liabilities | 0 | 0 | |
Other liabilities (2) | (4) | (4) | |
Total liabilities recorded at fair value | (1,779) | (1,708) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest rate contract [Member] | |||
Assets: | |||
Derivatives assets | 254 | 238 | |
Liabilities: | |||
Total derivative liabilities | (36) | (117) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commodity contract [Member] | |||
Assets: | |||
Derivatives assets | 37 | 37 | |
Liabilities: | |||
Total derivative liabilities | (18) | (14) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity contract [Member] | |||
Assets: | |||
Derivatives assets | 1,233 | 1,047 | |
Liabilities: | |||
Total derivative liabilities | (1,532) | (1,314) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Foreign exchange contract [Member] | |||
Assets: | |||
Derivatives assets | 14 | 29 | |
Liabilities: | |||
Total derivative liabilities | (11) | (17) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Credit contract [Member] | |||
Assets: | |||
Derivatives assets | 229 | 272 | |
Liabilities: | |||
Total derivative liabilities | (142) | (195) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other contract [Member] | |||
Liabilities: | |||
Total derivative liabilities | (36) | (47) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | |||
Assets: | |||
Available-for-sale Securities | 3,650 | 3,505 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Securities of U.S. Treasury and federal agencies [Member] | |||
Assets: | |||
Trading assets | 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 | 3 | 3 | |
Available-for-sale Securities | 1,360 | 1,140 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Collateralized Loan Obligations [Member] | |||
Assets: | |||
Trading assets | 398 | 309 | |
Available-for-sale Securities | 964 | 879 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate debt securities [Member] | |||
Assets: | |||
Trading assets | 37 | 34 | |
Available-for-sale Securities | 391 | 432 | |
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 | 0 | 0 | |
Available-for-sale Securities | 90 | 92 | |
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 | 89 | 91 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Asset-backed securities [Member] | |||
Assets: | |||
Trading assets | 0 | 0 | |
Available-for-sale Securities | 845 | 962 | |
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 | 845 | 962 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other trading assets [Member] | |||
Assets: | |||
Other trading assets | 26 | 28 | |
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 | 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 | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||
Total | $ 0 | $ 0 |
Trading assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||
Total | 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 |
Mortgages held for sale [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||
Total | 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 |
Short sale liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||
Total | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||
Transfer In | 0 | 3 |
Transfer Out | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Trading assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||
Transfer In | 0 | 4 |
Transfer Out | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Available-for-sale securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||
Transfer In | 0 | 0 |
Transfer Out | 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 |
Transfer Out | 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 |
Transfer Out | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Short sale liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||
Transfer In | 0 | (1) |
Transfer Out | 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 | 77 | 75 |
Transfer Out | (28) | (137) |
Fair Value, Inputs, Level 2 [Member] | Trading assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||
Transfer In | 1 | 11 |
Transfer Out | (3) | (4) |
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 | 72 | 0 |
Transfer Out | (5) | (80) |
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 | 1 | 2 |
Transfer Out | (42) | (29) |
Fair Value, Inputs, Level 2 [Member] | Net derivative assets and liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||
Transfer In | 3 | 62 |
Transfer Out | 22 | (25) |
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 |
Transfer Out | 0 | 1 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||
Transfer In | 28 | 134 |
Transfer Out | (77) | (75) |
Fair Value, Inputs, Level 3 [Member] | Trading assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||
Transfer In | 3 | 0 |
Transfer Out | (1) | (11) |
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] | ||
Transfer In | 5 | 80 |
Transfer Out | (72) | 0 |
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 | 42 | 29 |
Transfer Out | (1) | (2) |
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 | (22) | 25 |
Transfer Out | (3) | (62) |
Fair Value, Inputs, Level 3 [Member] | Short sale liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis Transfers Between Fair Value Levels [Line Items] | ||
Transfer In | 0 | 0 |
Transfer Out | $ 0 | $ 0 |
Fair Value, Assets and Liabi112
Fair Value, Assets and Liabilities Measured on Recurring Basis Level 3 Reconciliation (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Trading securities and trading assets [Member] | ||
Assets: | ||
Balance, beginning of period | $ 374 | $ 441 |
Net gains (losses) included in net income | 2 | (32) |
Net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | 86 | (57) |
Transfers into Level 3 | 3 | 0 |
Transfers out of Level 3 | (1) | (11) |
Balance, end of period | 464 | 341 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (1) | (27) |
Trading assets [Member] | ||
Assets: | ||
Balance, beginning of period | 346 | 407 |
Net gains (losses) included in net income | 4 | (30) |
Net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | 86 | (57) |
Transfers into Level 3 | 3 | 0 |
Transfers out of Level 3 | (1) | (11) |
Balance, end of period | 438 | 309 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | (27) |
Trading assets [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Assets: | ||
Balance, beginning of period | 3 | 8 |
Net gains (losses) included in net income | 0 | 0 |
Net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 0 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Balance, end of period | 3 | 8 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 |
Trading assets [Member] | Mortgage-Backed Securities [Member] | ||
Assets: | ||
Balance, beginning of period | 0 | 0 |
Net gains (losses) included in net income | 0 | 0 |
Net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 0 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Balance, end of period | 0 | 0 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 |
Trading assets [Member] | Collateralized Loan Obligations [Member] | ||
Assets: | ||
Balance, beginning of period | 309 | 343 |
Net gains (losses) included in net income | 4 | (25) |
Net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | 85 | (39) |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | (11) |
Balance, end of period | 398 | 268 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | (23) |
Trading assets [Member] | Corporate debt securities [Member] | ||
Assets: | ||
Balance, beginning of period | 34 | 56 |
Net gains (losses) included in net income | 0 | (5) |
Net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | 1 | (18) |
Transfers into Level 3 | 3 | 0 |
Transfers out of Level 3 | (1) | 0 |
Balance, end of period | 37 | 33 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | (4) |
Trading assets [Member] | Asset-backed securities [Member] | ||
Assets: | ||
Balance, beginning of period | 0 | 0 |
Net gains (losses) included in net income | 0 | 0 |
Net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 0 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Balance, end of period | 0 | 0 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 |
Trading assets [Member] | Equity Securities [Member] | ||
Assets: | ||
Balance, beginning of period | 0 | 0 |
Net gains (losses) included in net income | 0 | 0 |
Net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 0 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Balance, end of period | 0 | 0 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 |
Other trading assets [Member] | ||
Assets: | ||
Balance, beginning of period | 28 | 34 |
Net gains (losses) included in net income | (2) | (2) |
Net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 0 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Balance, end of period | 26 | 32 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (1) | 0 |
Mortgages held for sale [Member] | ||
Assets: | ||
Balance, beginning of period | 985 | 1,082 |
Net gains (losses) included in net income | (9) | 24 |
Net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | (60) | (62) |
Transfers into Level 3 | 42 | 29 |
Transfers out of Level 3 | (1) | (2) |
Balance, end of period | 957 | 1,071 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (11) | 21 |
Loans [Member] | ||
Assets: | ||
Balance, beginning of period | 758 | 5,316 |
Net gains (losses) included in net income | (6) | (1) |
Net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | (247) | (94) |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Balance, end of period | 505 | 5,221 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (5) | (2) |
Mortgage servicing rights [Member] | ||
Assets: | ||
Balance, beginning of period | 12,959 | 12,415 |
Net gains (losses) included in net income | (287) | (1,448) |
Net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | 536 | 366 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Balance, end of period | 13,208 | 11,333 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 174 | (957) |
Derivative [Member] | ||
Assets and Liabilities: | ||
Balance, beginning of period | (81) | 128 |
Net gains (losses) included in net income | 176 | 587 |
Total net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | (78) | (526) |
Transfers into Level 3 | (22) | 25 |
Transfers out of Level 3 | (3) | (62) |
Balance, end of period | (8) | 152 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 27 | 104 |
Derivative [Member] | Interest rate contract [Member] | ||
Assets and Liabilities: | ||
Balance, beginning of period | 121 | 288 |
Net gains (losses) included in net income | 209 | 599 |
Total net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | (112) | (379) |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | (7) |
Balance, end of period | 218 | 501 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 85 | 270 |
Derivative [Member] | Commodity contract [Member] | ||
Assets and Liabilities: | ||
Balance, beginning of period | 23 | 12 |
Net gains (losses) included in net income | 2 | 2 |
Total net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | (6) | (3) |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Balance, end of period | 19 | 11 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 7 | 3 |
Derivative [Member] | Equity contract [Member] | ||
Assets and Liabilities: | ||
Balance, beginning of period | (267) | (111) |
Net gains (losses) included in net income | (44) | (2) |
Total net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | 37 | (140) |
Transfers into Level 3 | (22) | 25 |
Transfers out of Level 3 | (3) | (55) |
Balance, end of period | (299) | (283) |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (57) | (147) |
Derivative [Member] | Foreign exchange contract [Member] | ||
Assets and Liabilities: | ||
Balance, beginning of period | 12 | 0 |
Net gains (losses) included in net income | (9) | 0 |
Total net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 0 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Balance, end of period | 3 | 0 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (5) | 0 |
Derivative [Member] | Credit contract [Member] | ||
Assets and Liabilities: | ||
Balance, beginning of period | 77 | (3) |
Net gains (losses) included in net income | 7 | 9 |
Total net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | 3 | (6) |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Balance, end of period | 87 | 0 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (14) | (1) |
Derivative [Member] | Other contract [Member] | ||
Assets and Liabilities: | ||
Balance, beginning of period | (47) | (58) |
Net gains (losses) included in net income | 11 | (21) |
Total net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 2 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Balance, end of period | (36) | (77) |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 11 | (21) |
Other assets [Member] | ||
Assets: | ||
Balance, beginning of period | 3,259 | 3,065 |
Net gains (losses) included in net income | 481 | (57) |
Net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 89 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Balance, end of period | 3,740 | 3,097 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 485 | (58) |
Short sale liabilities [Member] | ||
Liabilities: | ||
Balance, beginning of period | 0 | 0 |
Net gains (losses) included in net income | 0 | 0 |
Net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 0 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Balance, end of period | 0 | 0 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 |
Other liabilities [Member] | ||
Liabilities: | ||
Balance, beginning of period | (4) | (30) |
Net gains (losses) included in net income | 0 | 0 |
Net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 25 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Balance, end of period | (4) | (5) |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 |
Available-for-sale securities [Member] | ||
Assets: | ||
Balance, beginning of period | 3,505 | 3,726 |
Net gains (losses) included in net income | (12) | 18 |
Net gains (losses) included in other comprehensive income | 57 | (2) |
Purchases, sales, issuances and settlements, net | 167 | 215 |
Transfers into Level 3 | 5 | 80 |
Transfers out of Level 3 | (72) | 0 |
Balance, end of period | 3,650 | 4,037 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (4) | 0 |
Available-for-sale securities [Member] | Debt Securities [Member] | ||
Assets: | ||
Balance, beginning of period | 3,505 | 3,726 |
Net gains (losses) included in net income | (12) | 18 |
Net gains (losses) included in other comprehensive income | 57 | (2) |
Purchases, sales, issuances and settlements, net | 167 | 215 |
Transfers into Level 3 | 5 | 80 |
Transfers out of Level 3 | (72) | 0 |
Balance, end of period | 3,650 | 4,037 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (4) | 0 |
Available-for-sale securities [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Assets: | ||
Balance, beginning of period | 1,140 | 1,500 |
Net gains (losses) included in net income | 0 | 1 |
Net gains (losses) included in other comprehensive income | 2 | 3 |
Purchases, sales, issuances and settlements, net | 285 | (127) |
Transfers into Level 3 | 5 | 80 |
Transfers out of Level 3 | (72) | 0 |
Balance, end of period | 1,360 | 1,457 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 |
Available-for-sale securities [Member] | Mortgage-Backed Securities [Member] | ||
Assets: | ||
Balance, beginning of period | 92 | 74 |
Net gains (losses) included in net income | (3) | 0 |
Net gains (losses) included in other comprehensive income | 4 | 0 |
Purchases, sales, issuances and settlements, net | (3) | 0 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Balance, end of period | 90 | 74 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (4) | 0 |
Available-for-sale securities [Member] | Residential [Member] | ||
Assets: | ||
Balance, beginning of period | 1 | 1 |
Net gains (losses) included in net income | 0 | 0 |
Net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 0 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Balance, end of period | 1 | 1 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 |
Available-for-sale securities [Member] | Commercial [Member] | ||
Assets: | ||
Balance, beginning of period | 91 | 73 |
Net gains (losses) included in net income | (3) | 0 |
Net gains (losses) included in other comprehensive income | 4 | 0 |
Purchases, sales, issuances and settlements, net | (3) | 0 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Balance, end of period | 89 | 73 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (4) | 0 |
Available-for-sale securities [Member] | Collateralized Loan Obligations [Member] | ||
Assets: | ||
Balance, beginning of period | 879 | 565 |
Net gains (losses) included in net income | 5 | 15 |
Net gains (losses) included in other comprehensive income | 41 | (24) |
Purchases, sales, issuances and settlements, net | 39 | 257 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Balance, end of period | 964 | 813 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 |
Available-for-sale securities [Member] | Corporate debt securities [Member] | ||
Assets: | ||
Balance, beginning of period | 432 | 405 |
Net gains (losses) included in net income | (14) | 2 |
Net gains (losses) included in other comprehensive income | 8 | 19 |
Purchases, sales, issuances and settlements, net | (35) | 27 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Balance, end of period | 391 | 453 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 |
Available-for-sale securities [Member] | Asset-backed securities [Member] | ||
Assets: | ||
Balance, beginning of period | 962 | 1,182 |
Net gains (losses) included in net income | 0 | 0 |
Net gains (losses) included in other comprehensive income | 2 | 0 |
Purchases, sales, issuances and settlements, net | (119) | 58 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Balance, end of period | 845 | 1,240 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 |
Available-for-sale securities [Member] | Auto loans and leases [Member] | ||
Assets: | ||
Balance, beginning of period | 0 | 0 |
Net gains (losses) included in net income | 0 | 0 |
Net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 0 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Balance, end of period | 0 | 0 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 |
Available-for-sale securities [Member] | Other asset-backed securities [Member] | ||
Assets: | ||
Balance, beginning of period | 962 | 1,182 |
Net gains (losses) included in net income | 0 | 0 |
Net gains (losses) included in other comprehensive income | 2 | 0 |
Purchases, sales, issuances and settlements, net | (119) | 58 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Balance, end of period | 845 | 1,240 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 |
Available-for-sale securities [Member] | Equity Securities [Member] | ||
Assets: | ||
Balance, beginning of period | 0 | 0 |
Net gains (losses) included in net income | 0 | 0 |
Net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 0 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Balance, end of period | 0 | 0 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 |
Available-for-sale securities [Member] | Perpetual preferred securities [Member] | ||
Assets: | ||
Balance, beginning of period | 0 | 0 |
Net gains (losses) included in net income | 0 | 0 |
Net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 0 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Balance, end of period | 0 | 0 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 |
Available-for-sale securities [Member] | Other marketable equity securities [Member] | ||
Assets: | ||
Balance, beginning of period | 0 | 0 |
Net gains (losses) included in net income | 0 | 0 |
Net gains (losses) included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 0 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Balance, end of period | 0 | 0 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | $ 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 | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Trading securities and trading assets [Member] | ||
Assets: | ||
Purchases | $ 206 | $ 59 |
Sales | (82) | (116) |
Issuances | 0 | 0 |
Settlements | (38) | 0 |
Net | 86 | (57) |
Trading assets [Member] | ||
Assets: | ||
Purchases | 206 | 59 |
Sales | (82) | (116) |
Issuances | 0 | 0 |
Settlements | (38) | 0 |
Net | 86 | (57) |
Trading assets [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Assets: | ||
Purchases | 1 | 0 |
Sales | (1) | 0 |
Issuances | 0 | 0 |
Settlements | 0 | 0 |
Net | 0 | 0 |
Trading assets [Member] | Mortgage-Backed Securities [Member] | ||
Assets: | ||
Purchases | 0 | 0 |
Sales | 0 | 0 |
Issuances | 0 | 0 |
Settlements | 0 | 0 |
Net | 0 | 0 |
Trading assets [Member] | Collateralized Loan Obligations [Member] | ||
Assets: | ||
Purchases | 199 | 56 |
Sales | (76) | (95) |
Issuances | 0 | 0 |
Settlements | (38) | 0 |
Net | 85 | (39) |
Trading assets [Member] | Corporate debt securities [Member] | ||
Assets: | ||
Purchases | 6 | 3 |
Sales | (5) | (21) |
Issuances | 0 | 0 |
Settlements | 0 | 0 |
Net | 1 | (18) |
Trading assets [Member] | Asset-backed securities [Member] | ||
Assets: | ||
Purchases | 0 | 0 |
Sales | 0 | 0 |
Issuances | 0 | 0 |
Settlements | 0 | 0 |
Net | 0 | 0 |
Trading assets [Member] | Equity Securities [Member] | ||
Assets: | ||
Purchases | 0 | 0 |
Sales | 0 | 0 |
Issuances | 0 | 0 |
Settlements | 0 | 0 |
Net | 0 | 0 |
Other trading assets [Member] | ||
Assets: | ||
Purchases | 0 | 0 |
Sales | 0 | 0 |
Issuances | 0 | 0 |
Settlements | 0 | 0 |
Net | 0 | 0 |
Available-for-sale securities [Member] | ||
Assets: | ||
Purchases | 76 | 357 |
Sales | 0 | 0 |
Issuances | 367 | 176 |
Settlements | (276) | (318) |
Net | 167 | 215 |
Available-for-sale securities [Member] | Debt Securities [Member] | ||
Assets: | ||
Purchases | 76 | 357 |
Sales | 0 | 0 |
Issuances | 367 | 176 |
Settlements | (276) | (318) |
Net | 167 | 215 |
Available-for-sale securities [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Assets: | ||
Purchases | 0 | 28 |
Sales | 0 | 0 |
Issuances | 346 | 16 |
Settlements | (61) | (171) |
Net | 285 | (127) |
Available-for-sale securities [Member] | Mortgage-Backed Securities [Member] | ||
Assets: | ||
Purchases | 0 | 0 |
Sales | 0 | 0 |
Issuances | 0 | 0 |
Settlements | (3) | 0 |
Net | (3) | 0 |
Available-for-sale securities [Member] | Residential [Member] | ||
Assets: | ||
Purchases | 0 | 0 |
Sales | 0 | 0 |
Issuances | 0 | 0 |
Settlements | 0 | 0 |
Net | 0 | 0 |
Available-for-sale securities [Member] | Commercial [Member] | ||
Assets: | ||
Purchases | 0 | 0 |
Sales | 0 | 0 |
Issuances | 0 | 0 |
Settlements | (3) | 0 |
Net | (3) | 0 |
Available-for-sale securities [Member] | Collateralized Loan Obligations [Member] | ||
Assets: | ||
Purchases | 72 | 301 |
Sales | 0 | 0 |
Issuances | 0 | 0 |
Settlements | (33) | (44) |
Net | 39 | 257 |
Available-for-sale securities [Member] | Corporate debt securities [Member] | ||
Assets: | ||
Purchases | 4 | 28 |
Sales | 0 | 0 |
Issuances | 0 | 0 |
Settlements | (39) | (1) |
Net | (35) | 27 |
Available-for-sale securities [Member] | Asset-backed securities [Member] | ||
Assets: | ||
Purchases | 0 | 0 |
Sales | 0 | 0 |
Issuances | 21 | 160 |
Settlements | (140) | (102) |
Net | (119) | 58 |
Available-for-sale securities [Member] | Auto loans and leases [Member] | ||
Assets: | ||
Purchases | 0 | 0 |
Sales | 0 | 0 |
Issuances | 0 | 0 |
Settlements | 0 | 0 |
Net | 0 | 0 |
Available-for-sale securities [Member] | Other asset-backed securities [Member] | ||
Assets: | ||
Purchases | 0 | 0 |
Sales | 0 | 0 |
Issuances | 21 | 160 |
Settlements | (140) | (102) |
Net | (119) | 58 |
Available-for-sale securities [Member] | Equity Securities [Member] | ||
Assets: | ||
Purchases | 0 | 0 |
Sales | 0 | 0 |
Issuances | 0 | 0 |
Settlements | 0 | 0 |
Net | 0 | 0 |
Available-for-sale securities [Member] | Perpetual preferred securities [Member] | ||
Assets: | ||
Purchases | 0 | 0 |
Sales | 0 | 0 |
Issuances | 0 | 0 |
Settlements | 0 | 0 |
Net | 0 | 0 |
Available-for-sale securities [Member] | Equity Securities, Other 1 [Member] | ||
Assets: | ||
Purchases | 0 | 0 |
Sales | 0 | 0 |
Issuances | 0 | 0 |
Settlements | 0 | 0 |
Net | 0 | 0 |
Mortgages held for sale [Member] | ||
Assets: | ||
Purchases | 22 | 22 |
Sales | (156) | (159) |
Issuances | 106 | 118 |
Settlements | (32) | (43) |
Net | (60) | (62) |
Loans [Member] | ||
Assets: | ||
Purchases | 1 | 4 |
Sales | (129) | 0 |
Issuances | 6 | 88 |
Settlements | (125) | (186) |
Net | (247) | (94) |
Mortgage servicing rights [Member] | ||
Assets: | ||
Purchases | 0 | 0 |
Sales | (47) | 0 |
Issuances | 583 | 366 |
Settlements | 0 | 0 |
Net | 536 | 366 |
Derivative [Member] | ||
Assets and Liabilities: | ||
Purchases | 2 | 16 |
Sales | (1) | (147) |
Issuances | 0 | 0 |
Settlements | (79) | (395) |
Net | (78) | (526) |
Derivative [Member] | Interest rate contract [Member] | ||
Assets and Liabilities: | ||
Purchases | 0 | 0 |
Sales | 0 | 0 |
Issuances | 0 | 0 |
Settlements | (112) | (379) |
Net | (112) | (379) |
Derivative [Member] | Commodity contract [Member] | ||
Assets and Liabilities: | ||
Purchases | 0 | 0 |
Sales | 0 | 0 |
Issuances | 0 | 0 |
Settlements | (6) | (3) |
Net | (6) | (3) |
Derivative [Member] | Equity contract [Member] | ||
Assets and Liabilities: | ||
Purchases | 0 | 13 |
Sales | 0 | (147) |
Issuances | 0 | 0 |
Settlements | 37 | (6) |
Net | 37 | (140) |
Derivative [Member] | Foreign exchange contract [Member] | ||
Assets and Liabilities: | ||
Purchases | 0 | 0 |
Sales | 0 | 0 |
Issuances | 0 | 0 |
Settlements | 0 | 0 |
Net | 0 | 0 |
Derivative [Member] | Credit contract [Member] | ||
Assets and Liabilities: | ||
Purchases | 2 | 3 |
Sales | (1) | 0 |
Issuances | 0 | 0 |
Settlements | 2 | (9) |
Net | 3 | (6) |
Derivative [Member] | Other contract [Member] | ||
Assets and Liabilities: | ||
Purchases | 0 | 0 |
Sales | 0 | 0 |
Issuances | 0 | 0 |
Settlements | 0 | 2 |
Net | 0 | 2 |
Other assets [Member] | ||
Assets: | ||
Purchases | 0 | 89 |
Sales | 0 | 0 |
Issuances | 0 | 0 |
Settlements | 0 | 0 |
Net | 0 | 89 |
Short sale liabilities [Member] | ||
Liabilities: | ||
Purchases | 0 | 0 |
Sales | 0 | 0 |
Issuances | 0 | 0 |
Settlements | 0 | 0 |
Net | 0 | 0 |
Other liabilities [Member] | ||
Liabilities: | ||
Purchases | 0 | 0 |
Sales | 0 | 0 |
Issuances | 0 | 0 |
Settlements | 0 | 25 |
Net | $ 0 | $ 25 |
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 | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017USD ($)$ / loan | Dec. 31, 2016USD ($)$ / loan | |
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | $ 299,530 | $ 308,364 |
Mortgages held for sale, carried at fair value | 14,018 | 22,042 |
Loans | 505 | 758 |
Mortgage servicing rights | 13,208 | 12,959 |
Fair Value Inputs [Abstract] | ||
Fair value derivative assets | 79,722 | 85,129 |
Aggregate Fair Value Of Derivative Loan Commitments Net Asset (Liability) | 113 | (6) |
Fair value derivative liabilities | $ 81,738 | $ 87,188 |
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) | (0.238%) | (0.23%) |
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) | 1.31% | 1.312% |
Derivative Loan Commitments [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Fall-out factor | 21.00% | 15.00% |
Initial-value servicing (in bps) | 0.61% | 0.568% |
Interest rate contract [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Prepayment rate | 2.80% | 2.80% |
Loss severity | 50.00% | 50.00% |
Default rate | 0.00% | 0.10% |
Interest rate contract [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Prepayment rate | 12.50% | 12.50% |
Loss severity | 50.00% | 50.00% |
Default rate | 6.80% | 6.80% |
Interest rate contract [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Prepayment rate | 9.60% | 9.60% |
Loss severity | 50.00% | 50.00% |
Default rate | 1.70% | 2.10% |
Equity contract [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Weighted average life | 9 months | 1 year |
Conversion factor | (10.30%) | (10.60%) |
Equity contract [Member] | Minimum [Member] | Option model [Member] | ||
Fair Value Inputs [Abstract] | ||
Volatility factor | 5.00% | 6.50% |
Correlation factor | (77.00%) | (65.00%) |
Equity contract [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Weighted average life | 2 years 9 months | 3 years |
Conversion factor | 0.00% | 0.00% |
Equity contract [Member] | Maximum [Member] | Option model [Member] | ||
Fair Value Inputs [Abstract] | ||
Volatility factor | 100.00% | 100.00% |
Correlation factor | 98.50% | 98.50% |
Equity contract [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Weighted average life | 1 year 8 months | 2 years |
Conversion factor | (7.90%) | (7.90%) |
Equity contract [Member] | Weighted Average [Member] | Option model [Member] | ||
Fair Value Inputs [Abstract] | ||
Volatility factor | 19.70% | 20.70% |
Correlation factor | 37.60% | 39.90% |
Credit contract [Member] | Minimum [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | (23.80%) | (27.70%) |
Credit contract [Member] | Minimum [Member] | Option model [Member] | ||
Fair Value Inputs [Abstract] | ||
Loss severity | 12.00% | 12.00% |
Credit spread | 0.00% | 0.00% |
Credit contract [Member] | Maximum [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | 29.10% | 21.30% |
Credit contract [Member] | Maximum [Member] | Option model [Member] | ||
Fair Value Inputs [Abstract] | ||
Loss severity | 60.00% | 60.00% |
Credit spread | 9.40% | 11.60% |
Credit contract [Member] | Weighted Average [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | 1.00% | 0.02% |
Credit contract [Member] | Weighted Average [Member] | Option model [Member] | ||
Fair Value Inputs [Abstract] | ||
Loss severity | 48.40% | 50.40% |
Credit spread | 1.10% | 1.20% |
Government, healthcare and other revenue bonds [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 1.20% | 1.10% |
Government, healthcare and other revenue bonds [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 5.00% | 5.60% |
Government, healthcare and other revenue bonds [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 2.00% | 2.00% |
Auction rate and other municipal bonds [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 4.10% | 3.70% |
Weighted average life | 3 years 7 months | |
Auction rate and other municipal bonds [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 4.60% | 4.90% |
Weighted average life | 3 years 7 months | |
Auction rate and other municipal bonds [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 4.30% | 4.50% |
Weighted average life | 3 years 7 months | |
Collateralized Loan Obligations [Member] | Minimum [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | (19.80%) | (15.50%) |
Collateralized Loan Obligations [Member] | Maximum [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | 20.30% | 20.30% |
Collateralized Loan Obligations [Member] | Weighted Average [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | 1.60% | 2.90% |
Diversified payment rights [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 1.70% | 1.90% |
Diversified payment rights [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 4.30% | 4.80% |
Diversified payment rights [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 3.10% | 3.30% |
Other commercial and consumer [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 3.30% | 3.00% |
Weighted average life | 7 months | 9 months |
Other commercial and consumer [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 4.70% | 4.60% |
Weighted average life | 4 years | 4 years 2 months |
Other commercial and consumer [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 4.20% | 3.90% |
Weighted average life | 2 years 9 months | 2 years 11 months |
Mortgages held for sale [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 2.10% | 1.10% |
Prepayment rate | 6.20% | 6.30% |
Loss severity | 0.10% | 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 | 7.00% | 6.90% |
Prepayment rate | 17.20% | 17.10% |
Loss severity | 45.90% | 42.50% |
Default rate | 8.10% | 7.90% |
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 | 5.30% | 5.10% |
Prepayment rate | 10.00% | 10.00% |
Loss severity | 28.10% | 26.90% |
Default rate | 1.80% | 1.90% |
Mortgages held for sale [Member] | Weighted Average [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | (36.30%) | (37.80%) |
Loans [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 0.00% | 0.00% |
Prepayment rate | 9.40% | 0.40% |
Utilization rate | 0.00% | |
Loans [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 7.20% | 3.90% |
Prepayment rate | 100.00% | 100.00% |
Utilization rate | 0.80% | |
Loans [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 0.20% | 0.60% |
Prepayment rate | 95.00% | 83.70% |
Utilization rate | 0.10% | |
Residential mortgage servicing rights [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 6.60% | 6.50% |
Prepayment rate | 9.20% | 9.40% |
Cost to service per loan | $ / loan | 79 | 79 |
Residential mortgage servicing rights [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 18.80% | 18.40% |
Prepayment rate | 21.20% | 20.60% |
Cost to service per loan | $ / loan | 562 | 598 |
Residential mortgage servicing rights [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 6.90% | 6.80% |
Prepayment rate | 10.20% | 10.30% |
Cost to service per loan | $ / loan | 150 | 155 |
Other assets: nonmarketable equity investments [Member] | Minimum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 5.00% | 5.00% |
Volatility factor | 0.40% | 0.30% |
Other assets: nonmarketable equity investments [Member] | Minimum [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | (21.00%) | (22.10%) |
Other assets: nonmarketable equity investments [Member] | Maximum [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 10.30% | 10.30% |
Volatility factor | 2.80% | 2.40% |
Other assets: nonmarketable equity investments [Member] | Maximum [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | (4.80%) | (5.50%) |
Other assets: nonmarketable equity investments [Member] | Weighted Average [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 9.00% | 8.70% |
Volatility factor | 1.40% | 1.10% |
Other assets: nonmarketable equity investments [Member] | Weighted Average [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | (15.60%) | (16.40%) |
Recurring [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ (32,447) | $ (30,875) |
Available-for-sale Securities | 299,530 | 308,364 |
Mortgages held for sale, carried at fair value | 14,018 | 22,042 |
Loans | 505 | 758 |
Mortgage servicing rights | 13,208 | 12,959 |
Recurring [Member] | Interest rate contract [Member] | ||
Fair Value Inputs [Abstract] | ||
Fair value derivative assets | 63,487 | 65,268 |
Fair value derivative liabilities | 63,432 | 65,209 |
Recurring [Member] | Equity contract [Member] | ||
Fair Value Inputs [Abstract] | ||
Fair value derivative assets | 6,256 | 5,358 |
Fair value derivative liabilities | 6,810 | 6,112 |
Recurring [Member] | Credit contract [Member] | ||
Fair Value Inputs [Abstract] | ||
Fair value derivative assets | 523 | 552 |
Fair value derivative liabilities | 484 | 527 |
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 | 52,061 | 51,101 |
Recurring [Member] | Collateralized Loan Obligations [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 34,009 | 35,020 |
Recurring [Member] | Asset-backed securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 6,080 | 6,207 |
Recurring [Member] | Auto loans and leases [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 11 | 9 |
Recurring [Member] | Other asset-backed securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 5,750 | 5,871 |
Recurring [Member] | Equity Securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 1,125 | 1,211 |
Recurring [Member] | Perpetual preferred securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | 482 | 469 |
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 | (1,779) | (1,708) |
Available-for-sale Securities | 3,650 | 3,505 |
Mortgages held for sale, carried at fair value | 957 | 985 |
Loans | 505 | 758 |
Mortgage servicing rights | 13,208 | 12,959 |
Total insignificant level 3 assets, net of liabilities | 526 | 570 |
Total level 3 assets, net of liabilities | 22,512 | 21,755 |
Fair Value Inputs [Abstract] | ||
Assets, Fair Value Disclosure | 24,291 | 23,463 |
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 | 113 | (6) |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Interest rate contract [Member] | ||
Fair Value Inputs [Abstract] | ||
Fair value derivative assets | 254 | 238 |
Fair value derivative liabilities | 36 | 117 |
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 | 105 | 127 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Equity contract [Member] | ||
Fair Value Inputs [Abstract] | ||
Fair value derivative assets | 1,233 | 1,047 |
Fair value derivative liabilities | 1,532 | 1,314 |
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 | 94 | 79 |
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 | (393) | (346) |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Credit contract [Member] | ||
Fair Value Inputs [Abstract] | ||
Fair value derivative assets | 229 | 272 |
Fair value derivative liabilities | 142 | 195 |
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 | 0 | (28) |
Fair Value Inputs [Abstract] | ||
Fair value derivative assets | 15 | |
Fair value derivative liabilities | (15) | |
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 | 87 | 105 |
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 | 1,360 | 1,140 |
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 | 1,120 | 906 |
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 | 29 | 29 |
Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | Auction rate and other municipal bonds [Member] | Vendor priced [Member] | ||
Fair Value Inputs [Abstract] | ||
Trading and Available for Sale Securities, Fair Value Disclosure | 214 | 208 |
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 | 964 | 879 |
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 | 398 | 309 |
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 | 964 | 879 |
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 | 845 | 962 |
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 | 845 | 962 |
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 | 401 | 443 |
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 | 417 | 492 |
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 | 27 | 27 |
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 | 928 | 955 |
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 | 29 | 30 |
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 | 505 | 758 |
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 | 13,208 | 12,959 |
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 | 17 | 21 |
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 | 3,723 | 3,238 |
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 | (84,331) | (89,273) |
Available-for-sale Securities | 273,316 | 281,078 |
Mortgages held for sale, carried at fair value | 13,061 | 21,057 |
Loans | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Fair Value Inputs [Abstract] | ||
Assets, Fair Value Disclosure | 401,590 | 422,888 |
Fair Value, Inputs, Level 2 [Member] | Recurring [Member] | Interest rate contract [Member] | ||
Fair Value Inputs [Abstract] | ||
Fair value derivative assets | 63,205 | 64,986 |
Fair value derivative liabilities | 63,377 | 65,047 |
Fair Value, Inputs, Level 2 [Member] | Recurring [Member] | Equity contract [Member] | ||
Fair Value Inputs [Abstract] | ||
Fair value derivative assets | 3,215 | 2,997 |
Fair value derivative liabilities | 4,114 | 3,879 |
Fair Value, Inputs, Level 2 [Member] | Recurring [Member] | Credit contract [Member] | ||
Fair Value Inputs [Abstract] | ||
Fair value derivative assets | 294 | 280 |
Fair value derivative liabilities | 342 | 332 |
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 | 50,701 | 49,961 |
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 | 33,045 | 34,141 |
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 | 5,235 | 5,245 |
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 | 11 | 9 |
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 | 4,905 | 4,909 |
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 | 293 | 358 |
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 | $ 292 | $ 357 |
Non modified loans [Member] | Minimum [Member] | ||
Fair Value Inputs [Abstract] | ||
Cost to service per loan | $ / loan | 79 | 79 |
Non modified loans [Member] | Maximum [Member] | ||
Fair Value Inputs [Abstract] | ||
Cost to service per loan | $ / loan | 280 | 293 |
Collateralized Debt Obligations [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | $ 945 | $ 847 |
Fair Value, Assets Recorded at
Fair Value, Assets Recorded at Fair Value on Nonrecurring Basis (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgages held for sale | $ 14,018 | $ 22,042 |
Loans | 505 | 758 |
Other assets, carried at fair value (excluding nonmarketable equity investments at NAV) | 3,780 | 3,275 |
Investment Measured at NAV | 16 | 48 |
Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgages held for sale | 2,942 | 3,662 |
Loans held for sale | 24 | 8 |
Loans | 682 | 1,293 |
Other assets, carried at fair value (excluding nonmarketable equity investments at NAV) | 317 | 645 |
Investment Measured at NAV | 0 | 13 |
Nonrecurring [Member] | Total Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 452 | 464 |
Nonrecurring [Member] | Total Consumer [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 230 | 829 |
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 (excluding nonmarketable equity investments at NAV) | 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 | 1,624 | 2,312 |
Loans held for sale | 24 | 8 |
Loans | 677 | 1,286 |
Other assets, carried at fair value (excluding nonmarketable equity investments at NAV) | 170 | 233 |
Assets, Fair Value Disclosure | 2,495 | 3,839 |
Level 2 [Member] | Nonrecurring [Member] | Total Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 452 | 464 |
Level 2 [Member] | Nonrecurring [Member] | Total Consumer [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 225 | 822 |
Level 3 [Member] | Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgages held for sale | 1,318 | 1,350 |
Loans held for sale | 0 | 0 |
Loans | 5 | 7 |
Other assets, carried at fair value (excluding nonmarketable equity investments at NAV) | 147 | 412 |
Assets, Fair Value Disclosure | 1,470 | 1,769 |
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 | 5 | 7 |
Excluding NAV Investments [Member] | Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 3,965 | 5,608 |
Including NAV Investments [Member] | Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | $ 3,965 | $ 5,621 |
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 | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis Increase (Decrease) [Line Items] | ||
Mortgages held for sale (LOCOM) | $ 21 | $ 31 |
Loans | (302) | (370) |
Other assets | (100) | (99) |
Total | (381) | (438) |
Total Commercial [Member] | ||
Fair Value Assets And Liabilities Measured On Nonrecurring Basis Increase (Decrease) [Line Items] | ||
Loans | (127) | (110) |
Total Consumer [Member] | ||
Fair Value Assets And Liabilities Measured On Nonrecurring Basis Increase (Decrease) [Line Items] | ||
Loans | $ (175) | $ (260) |
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 | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | $ 299,530 | $ 308,364 |
Mortgages held for sale | $ 14,018 | $ 22,042 |
Minimum [Member] | Mortgages held for sale [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Default rate | 0.50% | 0.50% |
Discount rate | 2.10% | 1.10% |
Loss severity | 0.10% | 0.10% |
Prepayment rate | 6.20% | 6.30% |
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 | 8.10% | 7.90% |
Discount rate | 7.00% | 6.90% |
Loss severity | 45.90% | 42.50% |
Prepayment rate | 17.20% | 17.10% |
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 | 1.80% | 1.90% |
Discount rate | 5.30% | 5.10% |
Loss severity | 28.10% | 26.90% |
Prepayment rate | 10.00% | 10.00% |
Weighted Average [Member] | Mortgages held for sale [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs [Abstract] | ||
Comparability adjustment | (36.30%) | (37.80%) |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | $ 299,530 | $ 308,364 |
Mortgages held for sale | 14,018 | 22,042 |
Fair Value Inputs [Abstract] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | (32,447) | (30,875) |
Nonrecurring [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgages held for sale | $ 2,942 | $ 3,662 |
Nonrecurring [Member] | Minimum [Member] | Discounted cash flow [Member] | Other Assets: Nonmarketable Equity Investments [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 15.00% | 4.70% |
Nonrecurring [Member] | Minimum [Member] | Residential [Member] | Mortgages held for sale [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Default rate | 0.10% | 0.20% |
Discount rate | 1.50% | 1.50% |
Loss severity | 0.70% | 0.70% |
Prepayment rate | 3.50% | 3.00% |
Nonrecurring [Member] | Maximum [Member] | Discounted cash flow [Member] | Other Assets: Nonmarketable Equity Investments [Member] | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 15.00% | 9.30% |
Nonrecurring [Member] | Maximum [Member] | Residential [Member] | Mortgages held for sale [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Default rate | 8.60% | 4.30% |
Discount rate | 8.50% | 8.50% |
Loss severity | 47.80% | 50.10% |
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 | 15.00% | 7.30% |
Nonrecurring [Member] | Weighted Average [Member] | Residential [Member] | Mortgages held for sale [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Default rate | 2.80% | 1.90% |
Discount rate | 3.80% | 3.80% |
Loss severity | 2.40% | 2.40% |
Prepayment rate | 49.90% | 50.70% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | $ 3,650 | $ 3,505 |
Mortgages held for sale | 957 | 985 |
Total assets recorded at fair value | 24,291 | 23,463 |
Fair Value Inputs [Abstract] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | (1,779) | (1,708) |
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 | 928 | 955 |
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 | 29 | 30 |
Fair Value, Inputs, Level 3 [Member] | Nonrecurring [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgages held for sale | 1,318 | 1,350 |
Insignificant level 3 assets | 149 | 199 |
Total assets recorded at fair value | 1,470 | 1,769 |
Fair Value, Inputs, Level 3 [Member] | Nonrecurring [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs [Abstract] | ||
Other Assets Nonmarketable Equity Investments, Fair Value Disclosure | 3 | 220 |
Fair Value, Inputs, Level 3 [Member] | Nonrecurring [Member] | Residential [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgages held for sale | 1,318 | 1,350 |
Government Insured Or Guaranteed [Member] | Residential [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgages held for sale | 1,300 | 1,300 |
Non Government Insured Or Guaranteed [Member] | Residential [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgages held for sale | 32 | 33 |
Collateralized Debt Obligations [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale Securities | $ 945 | $ 847 |
Fair Value, Investments in Enti
Fair Value, Investments in Entities That Calculate Net Asset Value Per Share (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Dec. 31, 2016 | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Fair value | $ 16 | $ 48 |
Unfunded commitments | $ 27 | $ 37 |
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 | 2,023 |
Fair Value, Option, Carrying Am
Fair Value, Option, Carrying Amount (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Mortgages held for sale | $ 14,018 | $ 22,042 |
Loans | 505 | 758 |
Other assets, carried at fair value | 3,780 | 3,275 |
Trading assets - loans [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Trading assets, loans | 1,120 | 1,332 |
Trading assets, loans, unpaid principal | 1,168 | 1,418 |
Trading assets, loans, aggregate difference | (48) | (86) |
Nonaccrual loans | 46 | 100 |
Nonaccrual loans, unpaid principal | 49 | 115 |
Nonaccrual loans, Aggregate difference | (3) | (15) |
Mortgages held for sale [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Mortgages held for sale | 14,018 | 22,042 |
Mortgages held for sale, unpaid principal | 13,695 | 21,961 |
Loans, Loans held for sale and Mortgages held for sale, aggregate difference | 323 | 81 |
Nonaccrual loans | 130 | 136 |
Nonaccrual loans, unpaid principal | 172 | 182 |
Nonaccrual loans, Aggregate difference | (42) | (46) |
Loans 90 days or more past due and still accruing | 11 | 12 |
Loans 90 days or more past due and still accruing, Unpaid principal | 15 | 16 |
Loans 90 days or more past due and still accruing, Aggregate difference | (4) | (4) |
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 | 6 |
Loans, Loans held for sale and Mortgages held for sale, aggregate difference | (6) | (6) |
Nonaccrual loans | 0 | 0 |
Nonaccrual loans, unpaid principal | 6 | 6 |
Nonaccrual loans, Aggregate difference | (6) | (6) |
Loans [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans | 505 | 758 |
Loans, Unpaid principal | 529 | 775 |
Loans, Loans held for sale and Mortgages held for sale, aggregate difference | (24) | (17) |
Nonaccrual loans | 302 | 297 |
Nonaccrual loans, unpaid principal | 325 | 318 |
Nonaccrual loans, Aggregate difference | (23) | (21) |
Other assets [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Other assets, carried at fair value | $ 3,780 | $ 3,275 |
Fair Value, Option, Gains and L
Fair Value, Option, Gains and Losses (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
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 |
Mortgage banking noninterest income [Member] | Mortgages held for sale [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Gains (Losses) on changes in fair value | 279 | 565 |
Mortgage banking noninterest income [Member] | Loans [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Gains (Losses) on changes in fair value | 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 |
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 |
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 | 25 | 10 |
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 |
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 |
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 |
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 | (2) | (2) |
Other noninterest income [Member] | Trading assets - loans [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Gains (Losses) on changes in fair value | 0 | 0 |
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 |
Other noninterest income [Member] | Loans [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Gains (Losses) on changes in fair value | 0 | (1) |
Other noninterest income [Member] | Other assets [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Gains (Losses) on changes in fair value | 490 | (58) |
Other noninterest income [Member] | Other interests held [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Gains (Losses) on changes in fair value | $ 0 | $ 0 |
Fair Value, Option, Instrument
Fair Value, Option, Instrument Specific Credit Risk (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Gains (losses) attributable to instrument-specific credit risk | $ 24 | $ 6 |
Trading assets - loans [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Gains (losses) attributable to instrument-specific credit risk | 25 | 10 |
Mortgages held for sale [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Gains (losses) attributable to instrument-specific credit risk | $ (1) | $ (4) |
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 | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | |
Financial assets | |||||
Cash and due from banks | $ 19,698 | $ 20,729 | $ 19,084 | $ 19,111 | |
Federal funds sold, securities purchased under resale agreements and other short-term investments | 308,747 | 266,038 | |||
Held-to-maturity securities | 108,030 | 99,583 | |||
Loans | [1] | 958,405 | 967,604 | ||
Excluding investments at NAV | 8,122 | 8,397 | |||
Investment Measured at NAV | 16 | 48 | |||
Financial liabilities | |||||
Deposits | 1,325,444 | 1,306,079 | |||
Short-term borrowings | 94,871 | 96,781 | |||
Long-Term Debt | 256,468 | 255,077 | |||
Capital Lease Obligations | 7 | 8 | |||
Carrying value [Member] | |||||
Financial assets | |||||
Cash and due from banks | 19,698 | 20,729 | |||
Federal funds sold, securities purchased under resale agreements and other short-term investments | 308,747 | 266,038 | |||
Held-to-maturity securities | 108,030 | 99,583 | |||
Mortgages held for sale | 3,804 | 4,267 | |||
Loans held for sale | 253 | 80 | |||
Loans | 927,812 | 936,358 | |||
Excluding investments at NAV | 8,108 | 8,362 | |||
Investment Measured at NAV | 14 | 35 | |||
Financial liabilities | |||||
Deposits | 1,325,444 | 1,306,079 | |||
Short-term borrowings | 94,871 | 96,781 | |||
Long-Term Debt | 256,461 | 255,070 | |||
Financial Liabilities Fair Value Disclosure | 1,676,776 | 1,657,930 | |||
Estimated fair value [Member] | |||||
Financial assets | |||||
Cash and due from banks | 19,698 | 20,729 | |||
Federal funds sold, securities purchased under resale agreements and other short-term investments | 308,747 | 266,038 | |||
Held-to-maturity securities | 107,629 | 99,155 | |||
Mortgages held for sale | 3,814 | 4,277 | |||
Loans held for sale | 255 | 81 | |||
Loans | 937,166 | 947,834 | |||
Excluding investments at NAV | 8,655 | 8,942 | |||
Investment Measured at NAV | 16 | 48 | |||
Financial liabilities | |||||
Deposits | 1,325,608 | 1,306,153 | |||
Short-term borrowings | 94,871 | 96,781 | |||
Long-Term Debt | 258,419 | 255,779 | |||
Financial Liabilities Fair Value Disclosure | 1,678,898 | 1,658,713 | |||
Loan Commitments And Standby, Commercial And Similar Letters of Credit | 1,200 | 1,200 | |||
Estimated fair value [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Financial assets | |||||
Cash and due from banks | 19,698 | 20,729 | |||
Federal funds sold, securities purchased under resale agreements and other short-term investments | 26,189 | 18,670 | |||
Held-to-maturity securities | 45,154 | 45,079 | |||
Mortgages held for sale | 0 | 0 | |||
Loans held for sale | 0 | 0 | |||
Loans | 0 | 0 | |||
Excluding investments at NAV | 0 | 0 | |||
Assets | 91,041 | 84,478 | |||
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 | 282,480 | 247,286 | |||
Held-to-maturity securities | 60,138 | 51,706 | |||
Mortgages held for sale | 2,496 | 2,927 | |||
Loans held for sale | 255 | 81 | |||
Loans | 58,461 | 60,245 | |||
Excluding investments at NAV | 18 | 18 | |||
Assets | 403,848 | 362,263 | |||
Financial liabilities | |||||
Deposits | 1,302,614 | 1,282,158 | |||
Short-term borrowings | 94,871 | 96,781 | |||
Long-Term Debt | 248,256 | 245,704 | |||
Financial Liabilities Fair Value Disclosure | 1,645,741 | 1,624,643 | |||
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 | 78 | 82 | |||
Held-to-maturity securities | 2,337 | 2,370 | |||
Mortgages held for sale | 1,318 | 1,350 | |||
Loans held for sale | 0 | 0 | |||
Loans | 878,705 | 887,589 | |||
Excluding investments at NAV | 8,637 | 8,924 | |||
Assets | 891,075 | 900,315 | |||
Financial liabilities | |||||
Deposits | 22,994 | 23,995 | |||
Short-term borrowings | 0 | 0 | |||
Long-Term Debt | 10,163 | 10,075 | |||
Financial Liabilities Fair Value Disclosure | 33,157 | 34,070 | |||
Finance Leases Financing Receivable [Member] | |||||
Financial assets | |||||
Loans | 19,200 | 19,300 | |||
Excluding NAV Investments [Member] | Carrying value [Member] | |||||
Financial assets | |||||
Assets | 1,376,452 | 1,335,417 | |||
Excluding NAV Investments [Member] | Estimated fair value [Member] | |||||
Financial assets | |||||
Assets | 1,385,964 | 1,347,056 | |||
Including NAV Investments [Member] | Carrying value [Member] | |||||
Financial assets | |||||
Assets | 1,376,466 | 1,335,452 | |||
Including NAV Investments [Member] | Estimated fair value [Member] | |||||
Financial assets | |||||
Assets | $ 1,385,980 | $ 1,347,104 | |||
[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 | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017USD ($)vote$ / sharesshares | Dec. 31, 2016USD ($)$ / sharesshares | |
Detail of Preferred Stock [Abstract] | ||
Preferred Stock, Shares authorized and designated | shares | 12,841,891 | 11,941,891 |
ESOP, Liquidation preference per share | $ / shares | $ 0 | $ 0 |
ESOP, Shares authorized and designated | shares | 2,389,181 | 1,439,181 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 12,482,712 | 11,532,712 |
Voting Rights | If issued, preference shares would be limited to one vote per share | |
Preferred Stock, Liquidation Preference, Value | $ 26,900 | $ 25,950 |
Carrying value | 25,501 | 24,551 |
Discount | $ 1,399 | $ 1,399 |
ESOP Shares issued and outstanding | shares | 2,389,181 | 1,439,181 |
ESOP Liquidation preference value | $ 2,389 | $ 1,439 |
ESOP Carrying value | 2,389 | 1,439 |
ESOP Discount | $ 0 | $ 0 |
Preferred Stock, No Voting Rights [Member] | ||
Class of Stock [Line Items] | ||
Preferred shares authorized | shares | 20,000,000 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Preferred Stock, Par or Stated Value | $ 0 | |
Preferred Stock, Voting Rights [Member] | ||
Class of Stock [Line Items] | ||
Preferred shares authorized | shares | 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 | |
Preferred Stock, Par or Stated Value | $ 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 |
Preferred Stock, Shares authorized and designated | shares | 97,000 | 97,000 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 96,546 | 96,546 |
Preferred Stock, Liquidation Preference, Value | $ 0 | $ 0 |
Carrying value | 0 | 0 |
Discount | $ 0 | $ 0 |
Series H - Floating Class A Preferred Stock [Member] | ||
Detail of Preferred Stock [Abstract] | ||
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 0 | $ 20,000 |
Preferred Stock, Shares authorized and designated | shares | 0 | 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 |
Preferred Stock, Shares authorized and designated | shares | 25,010 | 25,010 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 25,010 | 25,010 |
Preferred Stock, Liquidation Preference, Value | $ 2,501 | $ 2,501 |
Carrying value | 2,501 | 2,501 |
Discount | $ 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 |
Preferred Stock, Shares authorized and designated | shares | 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 |
Preferred Stock, Liquidation Preference, Value | $ 2,150 | $ 2,150 |
Carrying value | 1,995 | 1,995 |
Discount | $ 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 |
Preferred Stock, Shares authorized and designated | shares | 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 |
Preferred Stock, Liquidation Preference, Value | $ 3,352 | $ 3,352 |
Carrying value | 2,876 | 2,876 |
Discount | $ 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 |
Preferred Stock, Shares authorized and designated | shares | 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 |
Preferred Stock, Liquidation Preference, Value | $ 3,968 | $ 3,968 |
Carrying value | 3,200 | 3,200 |
Discount | $ 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 |
Preferred Stock, Shares authorized and designated | shares | 30,000 | 30,000 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 30,000 | 30,000 |
Preferred Stock, Liquidation Preference, Value | $ 750 | $ 750 |
Carrying value | 750 | 750 |
Discount | $ 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 |
Preferred Stock, Shares authorized and designated | shares | 27,600 | 27,600 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 26,000 | 26,000 |
Preferred Stock, Liquidation Preference, Value | $ 650 | $ 650 |
Carrying value | 650 | 650 |
Discount | $ 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 |
Preferred Stock, Shares authorized and designated | shares | 26,400 | 26,400 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 25,000 | 25,000 |
Preferred Stock, Liquidation Preference, Value | $ 625 | $ 625 |
Carrying value | 625 | 625 |
Discount | $ 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 |
Preferred Stock, Shares authorized and designated | shares | 69,000 | 69,000 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 69,000 | 69,000 |
Preferred Stock, Liquidation Preference, Value | $ 1,725 | $ 1,725 |
Carrying value | 1,725 | 1,725 |
Discount | $ 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 |
Preferred Stock, Shares authorized and designated | shares | 34,500 | 34,500 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 33,600 | 33,600 |
Preferred Stock, Liquidation Preference, Value | $ 840 | $ 840 |
Carrying value | 840 | 840 |
Discount | $ 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 |
Preferred Stock, Shares authorized and designated | shares | 80,000 | 80,000 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 80,000 | 80,000 |
Preferred Stock, Liquidation Preference, Value | $ 2,000 | $ 2,000 |
Carrying value | 2,000 | 2,000 |
Discount | $ 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 |
Preferred Stock, Shares authorized and designated | shares | 32,200 | 32,200 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 32,000 | 32,000 |
Preferred Stock, Liquidation Preference, Value | $ 800 | $ 800 |
Carrying value | 800 | 800 |
Discount | $ 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 |
Preferred Stock, Shares authorized and designated | shares | 80,000 | 80,000 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 80,000 | 80,000 |
Preferred Stock, Liquidation Preference, Value | $ 2,000 | $ 2,000 |
Carrying value | 2,000 | 2,000 |
Discount | $ 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 |
Preferred Stock, Shares authorized and designated | shares | 40,000 | 40,000 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 40,000 | 40,000 |
Preferred Stock, Liquidation Preference, Value | $ 1,000 | $ 1,000 |
Carrying value | 1,000 | 1,000 |
Discount | $ 0 | $ 0 |
Series W - 5.700% Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||
Detail of Preferred Stock [Abstract] | ||
Preferred Stock, Dividend rate (percent) | 5.70% | 5.70% |
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 25,000 | $ 25,000 |
Preferred Stock, Shares authorized and designated | shares | 40,000 | 40,000 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 40,000 | 40,000 |
Preferred Stock, Liquidation Preference, Value | $ 1,000 | $ 1,000 |
Carrying value | 1,000 | 1,000 |
Discount | $ 0 | $ 0 |
Series X - 5.500% Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||
Detail of Preferred Stock [Abstract] | ||
Preferred Stock, Dividend rate (percent) | 5.50% | 5.50% |
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 25,000 | $ 25,000 |
Preferred Stock, Shares authorized and designated | shares | 46,000 | 46,000 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 46,000 | 46,000 |
Preferred Stock, Liquidation Preference, Value | $ 1,150 | $ 1,150 |
Carrying value | 1,150 | 1,150 |
Discount | $ 0 | $ 0 |
ESOP Preferred Stock (Details)
ESOP Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Class of Stock [Line Items] | ||
Additional paid-in capital included related to preferred stock | $ 157 | $ 126 |
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 2,389,181 | 1,439,181 |
Carrying value | $ 2,389 | $ 1,439 |
Unearned ESOP shares | $ (2,546) | $ (1,565) |
Employee Stock Ownership Plan Preferred Stock 2017 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 950,000 | 0 |
Carrying value | $ 950 | $ 0 |
Employee Stock Ownership Plan Preferred Stock 2017 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 7.00% | |
Employee Stock Ownership Plan Preferred Stock 2017 [Member] | Maximum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 8.00% | |
Employee Stock Ownership Plan Preferred Stock 2016 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 358,528 | 358,528 |
Carrying value | $ 358 | $ 358 |
Employee Stock Ownership Plan Preferred Stock 2016 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 9.30% | 9.30% |
Employee Stock Ownership Plan Preferred Stock 2016 [Member] | Maximum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 10.30% | 10.30% |
Employee Stock Ownership Plan Preferred Stock 2015 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 200,820 | 200,820 |
Carrying value | $ 201 | $ 201 |
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 | 255,413 |
Carrying value | $ 255 | $ 255 |
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 | 222,558 |
Carrying value | $ 223 | $ 223 |
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 | 144,072 |
Carrying value | $ 144 | $ 144 |
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 | 149,301 |
Carrying value | $ 149 | $ 149 |
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 | 90,775 |
Carrying value | $ 91 | $ 91 |
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 | 17,714 |
Carrying value | $ 18 | $ 18 |
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% |
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 | 93 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | |
Cash Balance Plan [Member] | |||
Components of net periodic benefit cost [Abstract] | |||
Net periodic benefit cost (income) | $ 0 | ||
Pension benefits qualified [Member] | |||
Components of net periodic benefit cost [Abstract] | |||
Service cost | $ 1 | $ 1 | |
Interest cost | 103 | 109 | |
Expected return on plan assets | (163) | (142) | |
Amortization of net actuarial loss (gain) | 38 | 33 | |
Amortization of prior service credit | 0 | 0 | |
Settlement loss | 1 | 0 | |
Net periodic benefit cost (income) | (20) | 1 | |
Pension benefits nonqualified [Member] | |||
Components of net periodic benefit cost [Abstract] | |||
Service cost | 0 | 0 | |
Interest cost | 6 | 7 | |
Expected return on plan assets | 0 | 0 | |
Amortization of net actuarial loss (gain) | 2 | 3 | |
Amortization of prior service credit | 0 | 0 | |
Settlement loss | 2 | 2 | |
Net periodic benefit cost (income) | 10 | 12 | |
Other benefits [Member] | |||
Components of net periodic benefit cost [Abstract] | |||
Service cost | 0 | 0 | |
Interest cost | 7 | 10 | |
Expected return on plan assets | (7) | (8) | |
Amortization of net actuarial loss (gain) | (2) | (1) | |
Amortization of prior service credit | (3) | 0 | |
Settlement loss | 0 | 0 | |
Net periodic benefit cost (income) | $ (5) | $ 1 |
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 | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Earnings Per Common Share [Abstract] | ||
Wells Fargo net income | $ 5,457 | $ 5,462 |
Less: Preferred stock dividends and other | 401 | 377 |
Wells Fargo net income applicable to common stock (numerator) | $ 5,056 | $ 5,085 |
Earnings per common share | ||
Average common shares outstanding (denominator) | 5,008.6 | 5,075.7 |
Per share | $ 1.01 | $ 1 |
Diluted earnings per common share | ||
Average common shares outstanding (in shares) | 5,008.6 | 5,075.7 |
Diluted average common shares outstanding (denominator) | 5,070.4 | 5,139.4 |
Per share | $ 1 | $ 0.99 |
Stock Option [Member] | ||
Diluted earnings per common share | ||
Weighted average number of diluted shares outstanding, adjustment (in shares) | 21.2 | 21.2 |
Restricted Share Rights [Member] | ||
Diluted earnings per common share | ||
Weighted average number of diluted shares outstanding, adjustment (in shares) | 28 | 31.7 |
Warrants [Member] | ||
Diluted earnings per common share | ||
Weighted average number of diluted shares outstanding, adjustment (in shares) | 12.6 | 10.8 |
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 | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Stock Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Instruments | 2.2 | 4.4 |
Other Comprehensive Income, Com
Other Comprehensive Income, Components of Other Comprehensive Income (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Investment securities: | ||
Net unrealized gains arising during the period, Before tax | $ 369 | $ 795 |
Net unrealized gains arising during the period, Tax effect | (133) | (310) |
Net unrealized gains (losses) arising during the period, Net of tax | 236 | 485 |
Reclassification of net (gains) losses to net income, Before tax | (145) | (304) |
Reclassification of net (gains) losses to net income, Tax effect | 54 | 113 |
Reclassification of net (gains) losses to net income, Net of tax | (91) | (191) |
Net change, Before tax | 224 | 491 |
Net change, Tax effect | (79) | (197) |
Net change, Net of tax | 145 | 294 |
Derivatives and hedging activities: | ||
Net unrealized gains (losses) arising during the period | (133) | 1,999 |
Net unrealized gains (losses) arising during the period, Tax effect | 50 | (753) |
Net unrealized gains (losses) arising during the period, Net of tax | (83) | 1,246 |
Reclassification of net (gains) losses to net income, Before tax | (202) | (256) |
Reclassification of net (gains) losses to net income, Tax effect | 76 | 96 |
Reclassification of net (gains) losses to net income, Net of tax | (126) | (160) |
Net change, Before tax | (335) | 1,743 |
Net change, Tax effect | 126 | (657) |
Net change, Net of tax | (209) | 1,086 |
Defined benefit plans adjustments: | ||
Net actuarial and prior service losses arising during the period, Before tax | (7) | (8) |
Net actuarial and prior service losses arising during the period, Tax effect | 3 | 3 |
Net actuarial and prior service losses arising during the period, Net of tax | (4) | (5) |
Amortization of net actuarial loss, Before tax | 38 | 35 |
Amortization of net actuarial loss, Tax effect | (14) | (13) |
Amortization of net actuarial loss, Net of tax | 24 | 22 |
Settlements and other, Before tax | 0 | 2 |
Settlements and other, Tax effect | 0 | (1) |
Settlements and other, Net of tax | 0 | 1 |
Reclassification of amounts to net periodic benefit costs, Before tax | 38 | 37 |
Reclassification of amounts to net periodic benefit costs, Tax effect | (14) | (14) |
Reclassification of amounts to net periodic benefit costs, Net of tax | 24 | 23 |
Net change, Before tax | 31 | 29 |
Net change, Tax effect | (11) | (11) |
Net change, Net of tax | 20 | 18 |
Foreign currency translation adjustments: | ||
Net unrealized gains arising during the period, Before tax | 16 | 43 |
Net unrealized gains arising during the period, Tax effect | 1 | 8 |
Net unrealized gains arising during the period, Net of tax | 17 | 51 |
Net change, Before tax | 16 | 43 |
Net change, Tax effect | 1 | 8 |
Net change, Net of tax | 17 | 51 |
Other comprehensive income (loss), before tax | (64) | 2,306 |
Other comprehensive income (loss), tax effect | 37 | (857) |
Other comprehensive income (loss), net of tax | (27) | 1,449 |
Less: Other comprehensive income (loss) from noncontrolling interests | 14 | (28) |
Wells Fargo other comprehensive income (loss), net of tax | (41) | 1,477 |
Interest income [Member] | Loans [Member] | ||
Derivatives and hedging activities: | ||
Reclassification of net (gains) losses to net income, Before tax | (205) | (260) |
Reclassification of net (gains) losses to net income, Tax effect | 77 | 98 |
Reclassification of net (gains) losses to net income, Net of tax | (128) | (162) |
Interest income [Member] | Investment securities [Member] | ||
Investment securities: | ||
Reclassification of net (gains) losses to net income, Before tax | 7 | 0 |
Reclassification of net (gains) losses to net income, Tax effect | (3) | 0 |
Reclassification of net (gains) losses to net income, Net of tax | 4 | 0 |
Net (gains) losses from debt and equity investments [Member] | Debt Securities [Member] | ||
Investment securities: | ||
Reclassification of net (gains) losses to net income, Before tax | (36) | (244) |
Reclassification of net (gains) losses to net income, Tax effect | 13 | 91 |
Reclassification of net (gains) losses to net income, Net of tax | (23) | (153) |
Net (gains) losses from debt and equity investments [Member] | Equity Securities [Member] | ||
Investment securities: | ||
Reclassification of net (gains) losses to net income, Before tax | (116) | (59) |
Reclassification of net (gains) losses to net income, Tax effect | 44 | 22 |
Reclassification of net (gains) losses to net income, Net of tax | (72) | (37) |
Other noninterest income [Member] | ||
Investment securities: | ||
Reclassification of net (gains) losses to net income, Before tax | 0 | (1) |
Reclassification of net (gains) losses to net income, Tax effect | 0 | 0 |
Reclassification of net (gains) losses to net income, Net of tax | 0 | (1) |
Interest expense on long-term debt [Member] | ||
Derivatives and hedging activities: | ||
Reclassification of net (gains) losses to net income, Before tax | 3 | 4 |
Reclassification of net (gains) losses to net income, Tax effect | (1) | (2) |
Reclassification of net (gains) losses to net income, Net of tax | $ 2 | $ 2 |
Other Comprehensive Income, Cum
Other Comprehensive Income, Cumulative OCI Balances (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Investment securities: | ||
Cumulative other comprehensive income (loss), Investment securities, beginning of period | $ (1,099) | $ 1,813 |
Net unrealized gains arising during the period | 236 | 485 |
Amounts reclassified from accumulated other comprehensive income | (91) | (191) |
Net change, Net of tax | 145 | 294 |
Less: Other comprehensive income (loss) from noncontrolling interests | 13 | (30) |
Cumulative other comprehensive income (loss), Investment securities, end of period | (967) | 2,137 |
Derivatives and hedging activities: | ||
Cumulative other comprehensive income, Derivatives and hedging activities, beginning of period | 89 | 620 |
Net unrealized gains (losses) arising during the period | (83) | 1,246 |
Amounts reclassified from accumulated other comprehensive income | (126) | (160) |
Net change, Net of tax | (209) | 1,086 |
Less: Other comprehensive income from noncontrolling interests | 0 | 0 |
Cumulative other comprehensive income (loss), Derivatives and hedging activities, end of period | (120) | 1,706 |
Defined benefit plans adjustments: | ||
Cumulative other comprehensive loss, Defined benefit plans adjustment, beginning of period | (1,943) | (1,951) |
Net unrealized losses arising during the period | (4) | (5) |
Amounts reclassified from accumulated other comprehensive income | 24 | 23 |
Net change, Net of tax | 20 | 18 |
Less: Other comprehensive income from noncontrolling interests | 0 | 0 |
Cumulative other comprehensive loss, Defined benefit plans adjustment, end of period | (1,923) | (1,933) |
Foreign currency translation adjustments: | ||
Cumulative other comprehensive loss, Foreign currency translation adjustments, beginning of period | (184) | (185) |
Net unrealized gains arising during the period | 17 | 51 |
Amounts reclassified from accumulated other comprehensive income | 0 | 0 |
Net change, Net of tax | 17 | 51 |
Less: Other comprehensive income from noncontrolling interests | 1 | 2 |
Cumulative other comprehensive loss, Foreign currency translation adjustments, end of period | (168) | (136) |
Cumulative other comprehensive income (loss), beginning of period | (3,137) | 297 |
Net unrealized gains arising during the period | 166 | 1,777 |
Amounts reclassified from accumulated other comprehensive income | (193) | (328) |
Other comprehensive income (loss), net of tax | (27) | 1,449 |
Less: Other comprehensive income (loss) from noncontrolling interests, net of tax | 14 | (28) |
Cumulative other comprehensive income (loss), end of period | $ (3,178) | $ 1,774 |
Operating Segments (Details)
Operating Segments (Details) $ in Millions | 3 Months Ended | |
Mar. 31, 2017USD ($)segment | Mar. 31, 2016USD ($) | |
Segment Reporting Information [Line Items] | ||
Number of reportable operating segments | segment | 3 | |
Financial Information of Operating Segment [Abstract] | ||
Net interest income | $ 12,300 | $ 11,667 |
Provision (reversal of provision) for credit losses | 605 | 1,086 |
Noninterest income | 9,702 | 10,528 |
Noninterest expense | 13,792 | 13,028 |
Income before income tax expense | 7,605 | 8,081 |
Income tax expense (benefit) | 2,057 | 2,567 |
Net income before noncontrolling interests | 5,548 | 5,514 |
Less: Net income from noncontrolling interests | 91 | 52 |
Wells Fargo net income | 5,457 | 5,462 |
Average loans | 963,600 | 927,200 |
Average assets | 1,931,000 | 1,819,900 |
Average Deposits | 1,299,200 | 1,219,400 |
Other [Member] | ||
Financial Information of Operating Segment [Abstract] | ||
Net interest income | (549) | (492) |
Provision (reversal of provision) for credit losses | 6 | 17 |
Noninterest income | (773) | (739) |
Noninterest expense | (860) | (818) |
Income before income tax expense | (468) | (430) |
Income tax expense (benefit) | (178) | (163) |
Net income before noncontrolling interests | (290) | (267) |
Less: Net income from noncontrolling interests | 0 | 0 |
Wells Fargo net income | (290) | (267) |
Average loans | (56,100) | (51,000) |
Average assets | (89,400) | (84,200) |
Average Deposits | (79,600) | (76,100) |
Community Banking [Member] | ||
Financial Information of Operating Segment [Abstract] | ||
Net interest income | 7,627 | 7,468 |
Provision (reversal of provision) for credit losses | 646 | 720 |
Noninterest income | 4,466 | 5,146 |
Noninterest expense | 7,221 | 6,836 |
Income before income tax expense | 4,226 | 5,058 |
Income tax expense (benefit) | 1,127 | 1,697 |
Net income before noncontrolling interests | 3,099 | 3,361 |
Less: Net income from noncontrolling interests | 90 | 65 |
Wells Fargo net income | 3,009 | 3,296 |
Average loans | 482,700 | 484,300 |
Average assets | 990,700 | 947,400 |
Average Deposits | 717,200 | 683,000 |
Wholesale Banking [Member] | ||
Financial Information of Operating Segment [Abstract] | ||
Net interest income | 4,148 | 3,748 |
Provision (reversal of provision) for credit losses | (43) | 363 |
Noninterest income | 2,890 | 3,210 |
Noninterest expense | 4,225 | 3,968 |
Income before income tax expense | 2,856 | 2,627 |
Income tax expense (benefit) | 746 | 719 |
Net income before noncontrolling interests | 2,110 | 1,908 |
Less: Net income from noncontrolling interests | (5) | (13) |
Wells Fargo net income | 2,115 | 1,921 |
Average loans | 466,300 | 429,800 |
Average assets | 807,800 | 748,600 |
Average Deposits | 466,000 | 428,000 |
Wealth and Investment Management [Member] | ||
Financial Information of Operating Segment [Abstract] | ||
Net interest income | 1,074 | 943 |
Provision (reversal of provision) for credit losses | (4) | (14) |
Noninterest income | 3,119 | 2,911 |
Noninterest expense | 3,206 | 3,042 |
Income before income tax expense | 991 | 826 |
Income tax expense (benefit) | 362 | 314 |
Net income before noncontrolling interests | 629 | 512 |
Less: Net income from noncontrolling interests | 6 | 0 |
Wells Fargo net income | 623 | 512 |
Average loans | 70,700 | 64,100 |
Average assets | 221,900 | 208,100 |
Average Deposits | $ 195,600 | $ 184,500 |
Regulatory and Agency Capita131
Regulatory and Agency Capital Requirements (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Wells Fargo & Company [Member] | Advanced Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common equity tier 1 | $ 149,860 | $ 148,785 |
Tier 1 | 172,543 | 171,364 |
Total | 205,269 | 204,425 |
Assets: | ||
Risk-weighted | 1,250,630 | 1,274,589 |
Adjusted average | $ 1,901,719 | $ 1,914,802 |
Regulatory capital ratios: | ||
Common equity tier 1 capital | 11.98% | 11.67% |
Tier 1 capital | 13.80% | 13.44% |
Total capital | 16.41% | 16.04% |
Tier 1 leverage | 9.07% | 8.95% |
Wells Fargo & Company [Member] | Standardized Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common equity tier 1 | $ 149,860 | $ 148,785 |
Tier 1 | 172,543 | 171,364 |
Total | 215,158 | 214,877 |
Assets: | ||
Risk-weighted | 1,300,723 | 1,336,198 |
Adjusted average | $ 1,901,719 | $ 1,914,802 |
Regulatory capital ratios: | ||
Common equity tier 1 capital | 11.52% | 11.13% |
Tier 1 capital | 13.27% | 12.82% |
Total capital | 16.54% | 16.08% |
Tier 1 leverage | 9.07% | 8.95% |
Wells Fargo Bank, NA [Member] | Advanced Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common equity tier 1 | $ 133,362 | $ 132,225 |
Tier 1 | 133,362 | 132,225 |
Total | 147,007 | 145,665 |
Assets: | ||
Risk-weighted | 1,123,251 | 1,143,681 |
Adjusted average | $ 1,705,841 | $ 1,714,524 |
Regulatory capital ratios: | ||
Common equity tier 1 capital | 11.87% | 11.56% |
Tier 1 capital | 11.87% | 11.56% |
Total capital | 13.09% | 12.74% |
Tier 1 leverage | 7.82% | 7.71% |
Wells Fargo Bank, NA [Member] | Standardized Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common equity tier 1 | $ 133,362 | $ 132,225 |
Tier 1 | 133,362 | 132,225 |
Total | 156,150 | 155,281 |
Assets: | ||
Risk-weighted | 1,190,078 | 1,222,876 |
Adjusted average | $ 1,705,841 | $ 1,714,524 |
Regulatory capital ratios: | ||
Common equity tier 1 capital | 11.21% | 10.81% |
Tier 1 capital | 11.21% | 10.81% |
Total capital | 13.12% | 12.70% |
Tier 1 leverage | 7.82% | 7.71% |
Regulatory and Agency Capita132
Regulatory and Agency Capital Requirements Minimum Required Regulatory Capital Ratios – Transition Requirements (Details) | Mar. 31, 2017 | Dec. 31, 2016 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Capital Conservation Buffer | 1.25% | |
GSIB Surcharge | 1.00% | |
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 | 6.75% | 5.625% |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 8.25% | 7.125% |
Capital Required for Capital Adequacy to Risk Weighted Assets | 10.25% | 9.125% |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% |
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 | 5.75% | 5.125% |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 7.25% | 6.625% |
Capital Required for Capital Adequacy to Risk Weighted Assets | 9.25% | 8.625% |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% |