Cover Page
Cover Page - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Feb. 18, 2020 | Jun. 28, 2019 | |
Entity Information [Line Items] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Transition Report | false | ||
Entity File Number | 001-2979 | ||
Entity Registrant Name | WELLS FARGO & COMPANY/MN | ||
Entity Central Index Key | 0000072971 | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 41-0449260 | ||
Entity Address, Address Line One | 420 Montgomery Street | ||
Entity Address, City or Town | San Francisco | ||
Entity Address, State or Province | CA | ||
Entity Address, Postal Zip Code | 94104 | ||
City Area Code | 866 | ||
Local Phone Number | 249-3302 | ||
Title of 12(g) Security | Dividend Equalization Preferred Shares, no par value | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 208,700 | ||
Entity Common Stock, Shares Outstanding | 4,099,887,226 | ||
Documents Incorporated by Reference | Incorporated Documents Where incorporated in Form 10-K 1. Portions of the Company’s Annual Report to Shareholders for the year ended December 31, 2019 (“2019 Annual Report to Shareholders”) Part I – Items 1, 1A, 2 and 3; Part II – Items 5, 6, 7, 7A, 8 and 9A; and Part IV– Item 15. 2. Portions of the Company’s Proxy Statement for the Annual Meeting of Shareholders to be held April 28, 2020 (“2020 Proxy Statement”) Part III – Items 10, 11, 12, 13 and 14 | ||
Common Stock, par value $1-2/3 | |||
Entity Information [Line Items] | |||
Title of 12(b) Security | Common Stock, par value $1-2/3 | ||
Trading Symbol | WFC | ||
Security Exchange Name | NYSE | ||
7.5% Non-Cumulative Perpetual Convertible Class A Preferred Stock, Series L | |||
Entity Information [Line Items] | |||
Title of 12(b) Security | 7.5% Non-Cumulative Perpetual Convertible Class A Preferred Stock, Series L | ||
Trading Symbol | WFC.PRL | ||
Security Exchange Name | NYSE | ||
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series N | |||
Entity Information [Line Items] | |||
Title of 12(b) Security | Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series N | ||
Trading Symbol | WFC.PRN | ||
Security Exchange Name | NYSE | ||
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series O | |||
Entity Information [Line Items] | |||
Title of 12(b) Security | Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series O | ||
Trading Symbol | WFC.PRO | ||
Security Exchange Name | NYSE | ||
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series P | |||
Entity Information [Line Items] | |||
Title of 12(b) Security | Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series P | ||
Trading Symbol | WFC.PRP | ||
Security Exchange Name | NYSE | ||
Depositary Shares, each representing a 1/1000th interest in a share of 5.85% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series Q | |||
Entity Information [Line Items] | |||
Title of 12(b) Security | 5.85% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series Q | ||
Trading Symbol | WFC.PRQ | ||
Security Exchange Name | NYSE | ||
Depositary Shares, each representing a 1/1000th interest in a share of 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series R | |||
Entity Information [Line Items] | |||
Title of 12(b) Security | 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series R | ||
Trading Symbol | WFC.PRR | ||
Security Exchange Name | NYSE | ||
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series T | |||
Entity Information [Line Items] | |||
Title of 12(b) Security | Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series T | ||
Trading Symbol | WFC.PRT | ||
Security Exchange Name | NYSE | ||
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series V | |||
Entity Information [Line Items] | |||
Title of 12(b) Security | Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series V | ||
Trading Symbol | WFC.PRV | ||
Security Exchange Name | NYSE | ||
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series W | |||
Entity Information [Line Items] | |||
Title of 12(b) Security | Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series W | ||
Trading Symbol | WFC.PRW | ||
Security Exchange Name | NYSE | ||
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series X | |||
Entity Information [Line Items] | |||
Title of 12(b) Security | Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series X | ||
Trading Symbol | WFC.PRX | ||
Security Exchange Name | NYSE | ||
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series Y | |||
Entity Information [Line Items] | |||
Title of 12(b) Security | Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series Y | ||
Trading Symbol | WFC.PRY | ||
Security Exchange Name | NYSE | ||
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series Z | |||
Entity Information [Line Items] | |||
Title of 12(b) Security | Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series Z | ||
Trading Symbol | WFC.PRZ | ||
Security Exchange Name | NYSE | ||
Guarantee of 5.80% Fixed-to-Floating Rate Normal Wachovia Income Trust Securities of Wachovia Capital Trust III | |||
Entity Information [Line Items] | |||
Title of 12(b) Security | Guarantee of 5.80% Fixed-to-Floating Rate Normal Wachovia Income Trust Securities of Wachovia Capital Trust III | ||
Trading Symbol | WFC/TP | ||
Security Exchange Name | NYSE | ||
Guarantee of Medium-Term Notes, Series A, due October 30, 2028 of Wells Fargo Finance LLC | |||
Entity Information [Line Items] | |||
Title of 12(b) Security | Guarantee of Medium-Term Notes, Series A, due October 30, 2028 of Wells Fargo Finance LLC | ||
Trading Symbol | WFC/28A | ||
Security Exchange Name | NYSE |
Consolidated Statement of Incom
Consolidated Statement of Income - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest income | |||
Debt securities | $ 14,955 | $ 14,406 | $ 12,946 |
Mortgage loans held for sale | 813 | 777 | 786 |
Loans held for sale | 79 | 140 | 50 |
Loans | 44,146 | 43,974 | 41,388 |
Equity securities | 962 | 992 | 799 |
Other interest income | 5,128 | 4,358 | 2,940 |
Total interest income | 66,083 | 64,647 | 58,909 |
Interest expense | |||
Deposits | 8,635 | 5,622 | 3,013 |
Short-term borrowings | 2,316 | 1,717 | 758 |
Long-term debt | 7,350 | 6,703 | 5,157 |
Other interest expense | 551 | 610 | 424 |
Total interest expense | 18,852 | 14,652 | 9,352 |
Net interest income | 47,231 | 49,995 | 49,557 |
Provision for credit losses | 2,687 | 1,744 | 2,528 |
Net interest income after provision for credit losses | 44,544 | 48,251 | 47,029 |
Noninterest income | |||
Mortgage banking | 2,715 | 3,017 | 4,350 |
Insurance | 378 | 429 | 1,049 |
Net gains from trading activities | 993 | 602 | 542 |
Net gains on debt securities (1) | 140 | 108 | 479 |
Net gains from equity securities (2) | 2,843 | 1,515 | 1,779 |
Lease income | 1,612 | 1,753 | 1,907 |
Other | 3,181 | 2,473 | 1,603 |
Total noninterest income | 37,832 | 36,413 | 38,832 |
Noninterest expense | |||
Salaries | 18,382 | 17,834 | 17,363 |
Commission and incentive compensation | 10,828 | 10,264 | 10,442 |
Employee benefits | 5,874 | 4,926 | 5,566 |
Technology and equipment | 2,763 | 2,444 | 2,237 |
Net occupancy | 2,945 | 2,888 | 2,849 |
Core deposit and other intangibles | 108 | 1,058 | 1,152 |
FDIC and other deposit assessments | 526 | 1,110 | 1,287 |
Other | 16,752 | 15,602 | 17,588 |
Total noninterest expense | 58,178 | 56,126 | 58,484 |
Income before income tax expense | 24,198 | 28,538 | 27,377 |
Income tax expense | 4,157 | 5,662 | 4,917 |
Net income before noncontrolling interests | 20,041 | 22,876 | 22,460 |
Less: Net income from noncontrolling interests | 492 | 483 | 277 |
Wells Fargo net income | 19,549 | 22,393 | 22,183 |
Less: Preferred stock dividends and other | 1,611 | 1,704 | 1,629 |
Wells Fargo net income applicable to common stock | $ 17,938 | $ 20,689 | $ 20,554 |
Per share information | |||
Earnings per common share (in dollars per share) | $ 4.08 | $ 4.31 | $ 4.14 |
Diluted earnings per common share (in dollars per share) | $ 4.05 | $ 4.28 | $ 4.10 |
Average common shares outstanding (in shares) | 4,393.1 | 4,799.7 | 4,964.6 |
Diluted average common shares outstanding (in shares) | 4,425.4 | 4,838.4 | 5,017.3 |
Service charges on deposit accounts [Member] | |||
Noninterest income | |||
Fee income | $ 4,798 | $ 4,716 | $ 5,111 |
Trust and investment fees [Member] | |||
Noninterest income | |||
Fee income | 14,072 | 14,509 | 14,495 |
Card fees [Member] | |||
Noninterest income | |||
Fee income | 4,016 | 3,907 | 3,960 |
Other fees [Member] | |||
Noninterest income | |||
Fee income | $ 3,084 | $ 3,384 | $ 3,557 |
Consolidated Statement of Inc_2
Consolidated Statement of Income (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Noninterest income | |||
Total OTTI losses recorded on equity securities | $ 245 | $ 352 | $ 344 |
Debt securities [Member] | |||
Noninterest income | |||
Total OTTI losses recorded on debt securities | 64 | 17 | 205 |
Total OTTI recorded as part of gross realized losses | 63 | 28 | 262 |
Total losses (reversal of losses) recognized in OCI as non-credit-related impairment | $ 1 | $ (11) | $ (57) |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | |||
Wells Fargo net income | $ 19,549 | $ 22,393 | $ 22,183 |
Debt securities (1): | |||
Net unrealized gains (losses) arising during the period | 5,439 | (4,493) | 2,719 |
Reclassification of net (gains) losses to net income | 122 | 248 | (737) |
Derivatives and hedging activities: | |||
Net unrealized losses arising during the period | (24) | (532) | (540) |
Reclassification of net (gains) losses on cash flow hedges to net income | 299 | 294 | (543) |
Defined benefit plans adjustments: | |||
Net actuarial and prior service gains (losses) arising during the period | (40) | (434) | 49 |
Amortization of net actuarial loss, settlements and other to net income | 133 | 253 | 153 |
Foreign currency translation adjustments: | |||
Net unrealized gains (losses) arising during the period | 73 | (156) | 96 |
Other comprehensive income (loss), before tax | 6,002 | (4,820) | 1,197 |
Income tax benefit (expense) related to other comprehensive income | (1,458) | 1,144 | (434) |
Other comprehensive income (loss), net of tax | 4,544 | (3,676) | 763 |
Less: Other comprehensive loss from noncontrolling interests | 0 | (2) | (62) |
Wells Fargo other comprehensive income (loss), net of tax | 4,544 | (3,674) | 825 |
Wells Fargo comprehensive income | 24,093 | 18,719 | 23,008 |
Comprehensive income from noncontrolling interests | 492 | 481 | 215 |
Total comprehensive income | $ 24,585 | $ 19,200 | $ 23,223 |
Consolidated Statement of Com_2
Consolidated Statement of Comprehensive Income Consolidated Statement of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net unrealized gains (losses) arising during the period, Before tax | $ 5,439 | $ (4,493) | $ 2,719 |
Reclassification of net (gains) losses to net income, Before tax | $ 122 | $ 248 | (737) |
Accounting Standards Update 2016-01 [Member] | |||
Net unrealized gains (losses) arising during the period, Before tax | 81 | ||
Reclassification of net (gains) losses to net income, Before tax | $ (456) |
Consolidated Balance Sheet
Consolidated Balance Sheet - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Assets | ||
Cash and due from banks | $ 21,757 | $ 23,551 |
Interest-earning deposits with banks | 119,493 | 149,736 |
Total cash, cash equivalents, and restricted cash | 141,250 | 173,287 |
Federal funds sold and securities purchased under resale agreements | 102,140 | 80,207 |
Trading, at fair value | 79,733 | 69,989 |
Available-for-sale, at fair value | 263,459 | 269,912 |
Held-to-maturity, at cost (fair value $156,860 and $142,115) | 153,933 | 144,788 |
Loans (includes $171 and $244 carried at fair value) (1) | 962,265 | 953,110 |
Allowance for loan losses | (9,551) | (9,775) |
Net loans | 952,714 | 943,335 |
Mortgage servicing rights: | ||
Measured at fair value | 11,517 | 14,649 |
Amortized | 1,430 | 1,443 |
Premises and equipment, net | 9,309 | 8,920 |
Goodwill | 26,390 | 26,418 |
Derivative assets | 14,203 | 10,770 |
Equity securities (includes $41,936 and $29,556 carried at fair value) (1) | 68,241 | 55,148 |
Other assets | 78,917 | 79,850 |
Total assets | 1,927,555 | 1,895,883 |
Liabilities | ||
Noninterest-bearing deposits | 344,496 | 349,534 |
Interest-bearing deposits | 978,130 | 936,636 |
Total deposits | 1,322,626 | 1,286,170 |
Short-term borrowings | 104,512 | 105,787 |
Derivative liabilities | 9,079 | 8,499 |
Accrued expenses and other liabilities | 75,163 | 69,317 |
Long-term debt | 228,191 | 229,044 |
Total liabilities | 1,739,571 | 1,698,817 |
Wells Fargo stockholders’ equity: | ||
Preferred stock | 21,549 | 23,214 |
Common stock – $1-2/3 par value, authorized 9,000,000,000 shares; issued 5,481,811,474 shares | 9,136 | 9,136 |
Additional paid-in capital | 61,049 | 60,685 |
Retained earnings | 166,697 | 158,163 |
Cumulative other comprehensive income (loss) | (1,311) | (6,336) |
Treasury stock – 1,347,385,537 shares and 900,557,866 shares | (68,831) | (47,194) |
Unearned ESOP shares | (1,143) | (1,502) |
Total Wells Fargo stockholders’ equity | 187,146 | 196,166 |
Noncontrolling interests | 838 | 900 |
Total equity | 187,984 | 197,066 |
Total liabilities and equity | 1,927,555 | 1,895,883 |
Mortgage loans [Member] | ||
Assets | ||
Loans held for sale | 23,342 | 15,126 |
Loans held for sale [Member] | ||
Assets | ||
Loans held for sale | $ 977 | $ 2,041 |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Assets | ||
Held-to-maturity, at fair value | $ 156,860 | $ 142,115 |
Equity securities, carried at fair value | 41,936 | 29,556 |
Cash and due from banks | 21,757 | 23,551 |
Interest-earning deposits with banks | 119,493 | 149,736 |
Net loans | 952,714 | 943,335 |
Derivative assets | 14,203 | 10,770 |
Equity securities | 68,241 | 55,148 |
Other assets | 78,917 | 79,850 |
Total assets | 1,927,555 | 1,895,883 |
Liabilities | ||
Short-term borrowings | 104,512 | 105,787 |
Derivative liabilities | 9,079 | 8,499 |
Accrued expenses and other liabilities | 75,163 | 69,317 |
Long-term debt | 228,191 | 229,044 |
Total liabilities | $ 1,739,571 | $ 1,698,817 |
Wells Fargo stockholders’ equity: | ||
Common stock, par value (in dollars per share) | $ 1.666602371 | $ 1.666602371 |
Common stock, shares authorized | 9,000,000,000 | 9,000,000,000 |
Common stock, shares issued | 5,481,811,474 | 5,481,811,474 |
Treasury stock, shares | 1,347,385,537 | 900,557,866 |
VIEs that we consolidate [Member] | ||
Assets | ||
Cash and due from banks | $ 16 | $ 139 |
Interest-earning deposits with banks | 284 | 8 |
Debt securities | 540 | 562 |
Net loans | 13,200 | 13,600 |
Derivative assets | 1 | 0 |
Equity securities | 118 | 85 |
Other assets | 239 | 227 |
Total assets | 14,368 | 14,585 |
Liabilities | ||
Short-term borrowings | 401 | 493 |
Derivative liabilities | 3 | 0 |
Accrued expenses and other liabilities | 235 | 199 |
Long-term debt | 587 | 816 |
Total liabilities | 1,226 | 1,508 |
Fair value option election [Member] | ||
Assets | ||
Mortgage loans held for sale, carried at fair value | 16,606 | 11,771 |
Loans held for sale, carried at fair value | 972 | 1,469 |
Loans, carried at fair value | $ 171 | $ 244 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - 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) | ||||||||||
Cumulative effect from change in accounting principle | Accounting Standards Update 2017-12 [Member] | $ (213) | $ (213) | $ (381) | $ 168 | ||||||
Balance, beginning of period adjusted balance | 200,284 | 199,368 | $ 24,551 | $ 9,136 | $ 60,234 | 132,694 | (2,969) | $ (22,713) | $ (1,565) | $ 916 |
Beginning balance, shares at Dec. 31, 2016 | 11,532,712 | 5,016,109,326 | ||||||||
Balance, beginning of period at Dec. 31, 2016 | 200,497 | 199,581 | $ 24,551 | $ 9,136 | 60,234 | 133,075 | (3,137) | (22,713) | (1,565) | 916 |
Stockholders' Equity Period Increase (Decrease) | ||||||||||
Net income | 22,183 | 22,183 | 22,183 | |||||||
Net income attributable to noncontrolling interests | (277) | 277 | ||||||||
Net income | 22,460 | |||||||||
Other comprehensive income (loss) attributable to parent, net of tax | 825 | 825 | 825 | |||||||
Other comprehensive income (loss) attributable to noncontrolling interest, net of tax | 62 | (62) | ||||||||
Other comprehensive income (loss), net of tax | 763 | 763 | ||||||||
Noncontrolling interests, adjustments to Additional Paid in Capital | 0 | 0 | ||||||||
Noncontrolling interests | 12 | |||||||||
Total change in noncontrolling interests | 12 | |||||||||
Common stock issued | 2,348 | 2,348 | (133) | (277) | 2,758 | |||||
Common stock, shares issued | 57,257,564 | |||||||||
Common stock repurchased | (9,908) | (9,908) | 750 | (10,658) | ||||||
Common stock repurchased, shares | (196,519,707) | |||||||||
Preferred stock issued to ESOP | 0 | 0 | $ 950 | 31 | (981) | |||||
Preferred stock issued to ESOP, shares | 950,000 | |||||||||
Preferred stock released by ESOP | 833 | 833 | (35) | 868 | ||||||
Preferred stock converted to common shares | 0 | 0 | $ (833) | 97 | 736 | |||||
Preferred stock converted to common shares, shares | (833,077) | 14,769,445 | ||||||||
Common stock warrants repurchased/exercised | (133) | (133) | (133) | |||||||
Preferred stock issued | 677 | 677 | $ 690 | (13) | ||||||
Preferred stock, shares issued | 27,600 | |||||||||
Common stock dividends | (7,658) | (7,658) | 50 | (7,708) | ||||||
Preferred stock dividends | (1,629) | (1,629) | (1,629) | |||||||
Stock incentive compensation expense | 875 | 875 | 875 | |||||||
Net change in deferred compensation and related plans | (845) | (845) | (830) | (15) | ||||||
Net change | 7,795 | 7,568 | $ 807 | $ 0 | 659 | 12,569 | 825 | (7,179) | (113) | 227 |
Net change, shares | 144,523 | (124,492,698) | ||||||||
Balance, end of period at Dec. 31, 2017 | 208,079 | 206,936 | $ 25,358 | $ 9,136 | 60,893 | 145,263 | (2,144) | (29,892) | (1,678) | 1,143 |
Ending balance, shares at Dec. 31, 2017 | 11,677,235 | 4,891,616,628 | ||||||||
Stockholders' Equity Period Increase (Decrease) | ||||||||||
Cumulative effect from change in accounting principle | Accounting Standards Update (ASU) 2016-01; ASU 2016-04; ASU 2016-16 and ASU 2014-09 [Member] | (24) | (24) | 94 | (118) | ||||||
Balance, beginning of period adjusted balance | 208,055 | 206,912 | $ 25,358 | $ 9,136 | 60,893 | 145,357 | (2,262) | (29,892) | (1,678) | 1,143 |
Adoption of accounting standard | Accounting Standards Update 2018-02 [Member] | 0 | 0 | 400 | (400) | ||||||
Net income | 22,393 | 22,393 | 22,393 | |||||||
Net income attributable to noncontrolling interests | (483) | 483 | ||||||||
Net income | 22,876 | |||||||||
Other comprehensive income (loss) attributable to parent, net of tax | (3,674) | (3,674) | (3,674) | |||||||
Other comprehensive income (loss) attributable to noncontrolling interest, net of tax | 2 | (2) | ||||||||
Other comprehensive income (loss), net of tax | (3,676) | (4,076) | ||||||||
Noncontrolling interests, adjustments to Additional Paid in Capital | 7 | 7 | ||||||||
Noncontrolling interests | (724) | |||||||||
Total change in noncontrolling interests | (717) | |||||||||
Common stock issued | 1,676 | 1,676 | (76) | (321) | 2,073 | |||||
Common stock, shares issued | 41,082,047 | |||||||||
Common stock repurchased | (20,633) | (20,633) | 0 | (20,633) | ||||||
Common stock repurchased, shares | (375,477,998) | |||||||||
Preferred stock redeemed, value | (2,150) | (2,150) | $ (1,995) | (155) | ||||||
Preferred stock redeemed, shares | (2,150,375) | |||||||||
Preferred stock issued to ESOP | 0 | 0 | $ 1,100 | 43 | (1,143) | |||||
Preferred stock issued to ESOP, shares | 1,100,000 | |||||||||
Preferred stock released by ESOP | 1,249 | 1,249 | (70) | 1,319 | ||||||
Preferred stock converted to common shares | 0 | 0 | $ (1,249) | 6 | 1,243 | |||||
Preferred stock converted to common shares, shares | (1,249,644) | 24,032,931 | ||||||||
Common stock warrants repurchased/exercised | (325) | (325) | (325) | |||||||
Preferred stock issued | 0 | 0 | $ 0 | 0 | ||||||
Preferred stock, shares issued | 0 | |||||||||
Common stock dividends | (7,889) | (7,889) | 66 | (7,955) | ||||||
Preferred stock dividends | (1,556) | (1,556) | (1,556) | |||||||
Stock incentive compensation expense | 1,041 | 1,041 | 1,041 | |||||||
Net change in deferred compensation and related plans | (885) | (885) | (900) | 15 | ||||||
Net change | (10,989) | (10,746) | $ (2,144) | $ 0 | (208) | 12,806 | (4,074) | (17,302) | 176 | (243) |
Net change, shares | (2,300,019) | (310,363,020) | ||||||||
Balance, end of period at Dec. 31, 2018 | 197,066 | 196,166 | $ 23,214 | $ 9,136 | 60,685 | 158,163 | (6,336) | (47,194) | (1,502) | 900 |
Ending balance, shares at Dec. 31, 2018 | 9,377,216 | 4,581,253,608 | ||||||||
Stockholders' Equity Period Increase (Decrease) | ||||||||||
Cumulative effect from change in accounting principle | Accounting Standards Update 2016-02 and Accounting Standards Update 2017-08 [Member] | (11) | (11) | (492) | 481 | ||||||
Balance, beginning of period adjusted balance | 197,055 | 196,155 | $ 23,214 | $ 9,136 | 60,685 | 157,671 | (5,855) | (47,194) | (1,502) | 900 |
Net income | 19,549 | 19,549 | 19,549 | |||||||
Net income attributable to noncontrolling interests | (492) | 492 | ||||||||
Net income | 20,041 | |||||||||
Other comprehensive income (loss) attributable to parent, net of tax | 4,544 | 4,544 | 4,544 | |||||||
Other comprehensive income (loss) attributable to noncontrolling interest, net of tax | 0 | 0 | ||||||||
Other comprehensive income (loss), net of tax | 4,544 | 4,544 | ||||||||
Noncontrolling interests, adjustments to Additional Paid in Capital | 0 | 0 | ||||||||
Noncontrolling interests | (554) | |||||||||
Total change in noncontrolling interests | (554) | |||||||||
Common stock issued | 2,157 | 2,157 | 9 | (382) | 2,530 | |||||
Common stock, shares issued | 48,771,064 | |||||||||
Common stock repurchased | (24,533) | (24,533) | 0 | (24,533) | ||||||
Common stock repurchased, shares | (502,418,179) | |||||||||
Preferred stock redeemed, value | (1,550) | (1,550) | $ (1,330) | (220) | ||||||
Preferred stock redeemed, shares | (1,550,000) | |||||||||
Preferred stock issued to ESOP | 0 | 0 | $ 0 | 0 | 0 | |||||
Preferred stock issued to ESOP, shares | 0 | |||||||||
Preferred stock released by ESOP | 335 | 335 | (24) | 359 | ||||||
Preferred stock converted to common shares | 0 | 0 | $ (335) | (16) | 351 | |||||
Preferred stock converted to common shares, shares | (335,047) | 6,819,444 | ||||||||
Common stock warrants repurchased/exercised | 0 | 0 | 0 | |||||||
Preferred stock issued | 0 | 0 | $ 0 | 0 | ||||||
Preferred stock, shares issued | 0 | |||||||||
Common stock dividends | (8,444) | (8,444) | 86 | (8,530) | ||||||
Preferred stock dividends | (1,391) | (1,391) | (1,391) | |||||||
Stock incentive compensation expense | 1,234 | 1,234 | 1,234 | |||||||
Net change in deferred compensation and related plans | (910) | (910) | (925) | 15 | ||||||
Net change | (9,071) | (9,009) | $ (1,665) | $ 0 | 364 | 9,026 | 4,544 | (21,637) | 359 | (62) |
Net change, shares | (1,885,047) | (446,827,671) | ||||||||
Balance, end of period at Dec. 31, 2019 | $ 187,984 | $ 187,146 | $ 21,549 | $ 9,136 | $ 61,049 | $ 166,697 | $ (1,311) | $ (68,831) | $ (1,143) | $ 838 |
Ending balance, shares at Dec. 31, 2019 | 7,492,169 | 4,134,425,937 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows from operating activities: | |||
Net income before noncontrolling interests | $ 20,041 | $ 22,876 | $ 22,460 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for credit losses | 2,687 | 1,744 | 2,528 |
Changes in fair value of MSRs, MLHFS and LHFS carried at fair value | 3,702 | 453 | 886 |
Depreciation, amortization and accretion | 7,075 | 5,593 | 5,406 |
Other net gains | (5,500) | (7,630) | (1,518) |
Stock-based compensation | 2,274 | 2,255 | 2,046 |
Originations and purchases of mortgage loans held for sale | (158,673) | (152,832) | (181,269) |
Proceeds from sales of and paydowns on mortgage loans held for sale | 112,718 | 119,097 | 134,984 |
Net change in: | |||
Debt and equity securities, held for trading | 22,066 | 35,054 | 33,505 |
Loans held for sale | 788 | (960) | 327 |
Deferred income taxes | (3,246) | 1,970 | 666 |
Derivative assets and liabilities | (2,665) | 1,513 | (5,025) |
Other assets | 3,034 | 7,805 | (1,214) |
Other accrued expenses and liabilities | 2,429 | (865) | 4,837 |
Net cash provided by operating activities | 6,730 | 36,073 | 18,619 |
Net change in: | |||
Federal funds sold and securities purchased under resale agreements | (21,933) | (1,184) | (21,497) |
Available-for-sale debt securities: | |||
Proceeds from sales | 9,386 | 7,320 | 42,067 |
Prepayments and maturities | 46,542 | 36,725 | 45,688 |
Purchases | (57,015) | (60,067) | (103,656) |
Held-to-maturity securities: | |||
Paydowns and maturities | 13,684 | 10,934 | 10,673 |
Purchases | (8,649) | 0 | 0 |
Equity securities, not held for trading: | |||
Proceeds from sales and capital returns | 6,143 | 6,242 | 5,451 |
Purchases | (6,865) | (6,433) | (3,735) |
Loans: | |||
Loans originated by banking subsidiaries, net of principal collected | (23,698) | (18,619) | 317 |
Proceeds from sales (including participations) of loans held for investment | 12,038 | 16,294 | 10,439 |
Purchases (including participations) of loans | (2,033) | (2,088) | (3,702) |
Principal collected on nonbank entities’ loans | 3,912 | 6,791 | 7,448 |
Loans originated by nonbank entities | (5,274) | (6,482) | (6,814) |
Proceeds from sales of foreclosed assets and short sales | 2,666 | 3,592 | 5,198 |
Other, net (1) | 1,465 | (779) | (1,029) |
Net cash used by investing activities | (29,631) | (7,754) | (13,152) |
Net change in: | |||
Deposits | 36,137 | (48,034) | 29,912 |
Short-term borrowings | (1,275) | 2,531 | 14,020 |
Long-term debt: | |||
Proceeds from issuance | 53,381 | 47,595 | 43,575 |
Repayment | (60,996) | (40,565) | (80,802) |
Preferred stock: | |||
Proceeds from issuance | 0 | 0 | 677 |
Redeemed | (1,550) | (2,150) | 0 |
Cash dividends paid | (1,391) | (1,622) | (1,629) |
Common stock: | |||
Proceeds from issuance | 380 | 632 | 1,211 |
Stock tendered for payment of withholding taxes | (302) | (331) | (393) |
Repurchased | (24,533) | (20,633) | (9,908) |
Cash dividends paid | (8,198) | (7,692) | (7,480) |
Net change in noncontrolling interests | (513) | (462) | 30 |
Other, net | (276) | (248) | (133) |
Net cash used by financing activities | (9,136) | (70,979) | (10,920) |
Net change in cash, cash equivalents, and restricted cash | (32,037) | (42,660) | (5,453) |
Cash, cash equivalents, and restricted cash at beginning of year | 173,287 | 215,947 | 221,400 |
Cash, cash equivalents, and restricted cash at end of year | 141,250 | 173,287 | 215,947 |
Supplemental cash flow disclosures: | |||
Cash paid for interest | 18,834 | 14,366 | 9,103 |
Cash paid for income taxes | $ 7,557 | $ 1,977 | $ 6,592 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
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, investment and mortgage products and services, as well as consumer and commercial finance, through banking locations and offices, the internet and other distribution channels to individuals, businesses and institutions in all 50 states, the District of Columbia, and in countries outside the U.S. 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. Our accounting and reporting policies conform with U.S. generally accepted accounting principles (GAAP) and practices in the financial services industry. 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 (Note 6 (Loans and Allowance for Credit Losses)); • valuations of residential mortgage servicing rights (MSRs) (Note 10 (Securitizations and Variable Interest Entities) and Note 11 (Mortgage Banking Activities)); • valuations of financial instruments (Note 18 (Derivatives) and Note 19 (Fair Values of Assets and Liabilities)); • liabilities for contingent litigation losses (Note 17 (Legal Actions)); and • income taxes (Note 24 (Income Taxes)). Actual results could differ from those estimates. Accounting Standards Adopted in 2019 In 2019 , we adopted the following new accounting guidance: • Accounting Standards Update (ASU or Update) 2018-16 – Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes • ASU 2017-08 – Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities • ASU 2016-02 – Leases (Topic 842) and subsequent related Updates, including early adoption of ASU 2019-01 – Leases (Topic 842): Codification Improvements ASU 2018-16 expands the list of U.S. benchmark interest rates permitted in the application of hedge accounting. The Update adds the OIS rate based on SOFR as a U.S. benchmark interest rate to facilitate the London Interbank Offered Rate (LIBOR) to SOFR transition and provide sufficient lead time for entities to prepare for changes to interest rate risk hedging strategies for both risk management and hedge accounting purposes. The Update is applied prospectively for qualifying new or re-designated hedging relationships entered into on or after adoption date. We adopted the guidance in first quarter 2019. The Update has not had an impact as we have not designated SOFR OIS as a benchmark interest rate in any hedging relationships. ASU 2017-08 changes the interest income recognition model for purchased callable debt securities carried at a premium, as the premium will be amortized to the earliest call date rather than to the contractual maturity date. Accounting for purchased callable debt securities held at a discount does not change, as the discount will continue to accrete to the contractual maturity date. The Update impacted our investments in purchased callable debt securities classified as available-for-sale (AFS) and held-to-maturity (HTM), which predominantly consist of debt securities of U.S. states and political subdivisions. We adopted the Update in first quarter 2019 and recorded a cumulative-effect adjustment as of January 1, 2019, that decreased total stockholders’ equity by $111 million . Retained earnings was reduced by $592 million which reflects both the incremental premium amortization under the new guidance from the acquisition date of our impacted AFS and HTM debt securities through the date of adoption and the fact that the incremental premium amortization is not deductible for federal income tax purposes. Other comprehensive income (OCI) was increased by $481 million which reflects the corresponding adjustment to the adoption date unrealized gain or loss of impacted AFS debt securities. Going forward, interest income recognized prior to the call date will be reduced because the premium will be amortized over a shorter period. ASU 2016-02 modifies the guidance used by lessors and lessees to account for leasing transactions. For our transition to the new guidance, we elected several available practical expedients, including to not reassess the classification of our existing leases, any initial direct costs associated with our leases, or whether any existing contracts are or contain leases. In addition, we elected not to provide a comparative presentation for 2018 and 2017 financial statements. We adopted the Update in first quarter 2019 and recorded a cumulative-effect adjustment that increased retained earnings by $100 million related to deferred gains on our prior sale-leaseback transactions. We also recognized operating lease right-of-use (ROU) assets and liabilities, substantially all of which relate to our leasing of real estate as a lessee, of $4.9 billion and $5.6 billion , respectively. Table 1.1 summarizes financial assets and liabilities by form and measurement accounting model. Table 1.1: Accounting Model for Financial Assets and Financial Liabilities Balance sheet caption Measurement model(s) Financial statement Note reference Cash and due from banks Amortized cost Note 3: Cash, Loan and Dividend Restrictions Interest-earning deposits with banks Amortized cost Note 3: Cash, Loan and Dividend Restrictions Federal funds sold and securities purchased under resale agreements Amortized cost N/A Debt securities: Trading FV-NI (1) Note 4: Trading Activities Available-for-sale FV-OCI (2) Note 5: Available-for-Sale and Held-to-Maturity Debt Securities Held-to-maturity Amortized cost Note 5: Available-for-Sale and Held-to-Maturity Debt Securities Mortgage loans held for sale FV-NI (1) LOCOM (3) Note 19: Fair Values of Assets and Liabilities Loans held for sale FV-NI (1) Note 19: Fair Values of Assets and Liabilities Loans Amortized cost FV-NI (1) Note 6: Loans and Allowance for Credit Losses Derivative assets and liabilities FV-NI (1) FV-OCI (2) Note 4: Trading Activities Equity securities: Marketable FV-NI (1) Note 4: Trading Activities Nonmarketable FV-NI (1) Cost method Equity method MA (4) Note 4: Trading Activities Other assets Amortized cost (5) Note 9: Premises, Equipment, and Other Assets Deposits Amortized cost Note 13: Deposits Short-term borrowings Amortized cost Note 14: Short-Term Borrowings Accrued expenses and other liabilities Amortized cost (6) Note 4: Trading Activities Note 7: Leasing Activity Note 19: Fair Values of Assets and Liabilities Long-term debt Amortized cost Note 15: Long-Term Debt (1) FV-NI represents the fair value through net income accounting model. (2) FV-OCI represents the fair value through other comprehensive income accounting model. (3) LOCOM represents the lower of cost or fair value accounting model. (4) MA represents the measurement alternative accounting model. (5) Other assets are generally measured at amortized cost, except for bank-owned life insurance which is measured at cash surrender value. (6) Accrued expenses and other liabilities are generally measured at amortized cost, except for trading short-sale liabilities which are measured at FV-NI. Consolidation Our consolidated financial statements include the accounts of the Parent and our subsidiaries in which we have a controlling financial interest. When our consolidated subsidiaries follow specialized industry accounting, that accounting is retained in consolidation. We are also a variable interest holder in certain entities in which equity investors do not have the characteristics of a controlling financial interest or where the entity does not have enough equity at risk to finance its activities without additional subordinated financial support from other parties (collectively referred to as variable interest entities (VIEs)). Our variable interest arises from contractual, ownership or other monetary interests in the entity, which change with fluctuations in the fair value of the entity’s net assets. We consolidate a VIE if we are the primary beneficiary, which is when we have both the power to direct the activities that most significantly impact the VIE and a variable interest that could potentially be significant to the VIE. To determine whether or not a variable interest we hold could potentially be significant to the VIE, we consider both qualitative and quantitative factors regarding the nature, size and form of our involvement with the VIE. We assess whether or not we are the primary beneficiary of a VIE on an ongoing basis. Significant intercompany accounts and transactions are eliminated in consolidation. When we have significant influence over operating and financing decisions for a company but do not own a majority of the voting equity interests, we account for the investment using the equity method of accounting, which requires us to recognize our proportionate share of the company’s earnings. If we do not have significant influence, we account for the equity security under the fair value method, cost method or measurement alternative. Cash, Cash Equivalents and Restricted Cash Cash, cash equivalents and restricted cash include cash on hand, cash items in transit, and amounts due from or held with other depository institutions. See Note 3 (Cash, Loan and Dividend Restrictions) for the nature of our restrictions on cash and cash equivalents. Trading Activities We engage in trading activities to accommodate the investment and risk management activities of our customers. These activities predominantly occur in our Wholesale Banking businesses and, to a lesser extent, other divisions of the Company. Trading assets and liabilities include debt securities, equity securities, loans, derivatives and short sales, which are reported within the balance sheet based on the accounting classification of the instrument. In addition, debt securities that are held for investment purposes that we have elected to account for under the fair value method, are classified as trading. Our trading assets and liabilities are carried on the balance sheet at fair value with changes in fair value recognized in net gains from trading activities and interest income and interest expense recognized in net interest income. Customer accommodation trading activities include our actions as an intermediary to buy and sell financial instruments and market-making activities. We also take positions to manage our exposure to customer accommodation activities. We hold financial instruments for trading in long positions, as well as short positions, to facilitate our trading activities. As an intermediary, we interact with market buyers and sellers to facilitate the purchase and sale of financial instruments to meet the anticipated or current needs of our customers. For example, we may purchase or sell a derivative to a customer who wants to manage interest rate risk exposure. We typically enter into an offsetting derivative or security position to manage our exposure to the customer transaction. We earn income based on the transaction price difference between the customer transaction and the offsetting position, which is reflected in earnings where the fair value changes and related interest income and expense of the positions are recorded. Our market-making activities include taking long and short trading positions to facilitate customer order flow. These activities are typically executed on a short-term basis. As a market-maker we earn income due to: (1) the difference between the price paid or received for the purchase and sale of the security (bid-ask spread), (2) the net interest income of the positions, and (3) the changes in fair value of the trading positions held on our balance sheet. Additionally, we may enter into separate derivative or security positions to manage our exposure related to our long and short trading positions taken in our market-making activities. Income earned on these market-making activities are reflected in earnings where the fair value changes and related interest income and expense of the positions are recorded. Debt Securities Our investments in debt securities that are not held for trading purposes are classified as either debt securities available-for-sale (AFS) or held-to-maturity (HTM). AVAILABLE-FOR-SALE DEBT SECURITIES Investments in debt securities for which the Company does not have the positive intent and ability to hold to maturity are classified as AFS. AFS debt securities are measured at fair value with unrealized gains and losses reported in cumulative OCI, net of applicable income taxes. We conduct other-than-temporary impairment (OTTI) analysis on a quarterly basis or more often if a potential loss-triggering event occurs. The initial indicator of OTTI is a decline in fair value below the amortized cost of the debt security. We recognize OTTI in earnings as a reduction to the amortized cost of the security. OTTI related to AFS debt securities is classified as net gains (losses) from debt securities within noninterest income. We recognize OTTI for an AFS debt security that has a decline in fair value below amortized cost if we: (1) have the intent to sell the security, (2) it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis, or (3) we do not expect to recover the entire amortized cost basis of the security. Estimating recovery of the amortized cost basis of an AFS debt security is based upon an assessment of the cash flows expected to be collected. If the present value of cash flows expected to be collected discounted at the security’s effective yield is less than amortized cost, an OTTI has occurred. In performing an assessment of the cash flows expected to be collected, we consider all relevant information, including: • the length of time and the extent to which the fair value has been less than the amortized cost basis; • the historical and implied volatility of the fair value of the security; • the cause of the price decline, such as the general level of interest rates or adverse conditions specifically related to the security, an industry or a geographic area; • the issuer’s financial condition, near-term prospects and ability to service the debt; • the payment structure of the debt security and the likelihood of the issuer being able to make payments that increase in the future; • for asset-backed securities, the credit performance of the underlying collateral, including delinquency rates, level of non-performing assets, cumulative losses to date, collateral value and the remaining credit enhancement compared with expected credit losses; • any change in rating agencies’ credit ratings and any likely imminent action; • independent analyst reports and forecasts, sector credit ratings and other independent market data; and • recoveries or additional declines in fair value subsequent to the balance sheet date. If we intend to sell the security, or if it is more likely than not we will be required to sell the security before recovery of amortized cost basis, OTTI is recognized in earnings equal to the entire difference between the amortized cost basis and fair value of the security. For a debt security that is considered other-than-temporarily impaired that we do not intend to sell or it is more likely than not that we will not be required to sell before recovery, OTTI is separated into an amount representing the credit loss, which is recognized in earnings, and the amount related to all other factors, which is recognized in OCI. The measurement of the credit loss component is equal to the difference between the debt security’s amortized cost basis and the present value of its expected future cash flows discounted at the security’s effective yield. The remaining difference between the security’s fair value and the present value of expected future cash flows is due to all other factors. We believe that we will fully collect the carrying value of securities on which we have recorded a non-credit-related impairment in OCI. Following the recognition of OTTI, the security’s new amortized cost basis is the previous basis less any OTTI recognized in earnings. We recognize realized gains and losses on the sale of AFS debt securities in net gains (losses) on debt securities using the specific identification method. Unamortized premiums and discounts are recognized in interest income over the contractual life of the security using the effective interest method, except for purchased callable debt securities carried at a premium. For purchased callable debt securities carried at a premium, the premium is amortized into interest income to the earliest call date using the effective interest method. As principal repayments are received on securities (e.g., mortgage-backed securities (MBS)) a proportionate amount of the related premium or discount is recognized in income so that the effective interest rate on the remaining portion of the security continues unchanged. HELD-TO-MATURITY DEBT SECURITIES Investments in debt securities for which the Company has the positive intent and ability to hold to maturity are classified as HTM. HTM debt securities are measured at historical cost adjusted for amortization of premiums and accretion of discounts under the same methods described for AFS debt securities. We recognize OTTI when there is a decline in fair value below amortized cost and we do not expect to recover the entire amortized cost basis of the debt security. The amortized cost is written-down to fair value with the credit loss component recorded to earnings and the remaining component recognized in OCI. The OTTI assessment related to intent to sell, required to sell, whether we expect recovery of the amortized cost basis and determination of any credit loss component recognized in earnings for HTM debt securities is the same as described for AFS debt securities. OTTI related to HTM debt securities is classified as net gains (losses) from debt securities within noninterest income. AFS debt securities transferred to the HTM classification are recorded at fair value and the unrealized gains or losses resulting from the transfer of these securities continue to be reported in cumulative OCI. The cumulative OCI balance is amortized into earnings over the same period as the unamortized premiums and discounts using the effective interest method. The HTM amortized cost basis used in the OTTI analysis includes the unamortized OCI balances related to previous security transfers from AFS to HTM. Securities Purchased and Sold Agreements Securities purchased under resale agreements and securities sold under repurchase agreements are accounted for as collateralized financing transactions and are recorded at the acquisition or sale price plus accrued interest. We monitor the fair value of securities purchased and sold as well as the collateral pledged and received. Additional collateral is pledged or returned to maintain the appropriate collateral position for the transactions. These financing transactions do not create material credit risk given the collateral provided and the related monitoring process. Mortgage Loans and Loans Held for Sale Mortgage loans held for sale (MLHFS) include commercial and residential mortgages originated for sale in the securitization or whole loan market. We have elected the fair value option for substantially all residential MLHFS (see Note 19 (Fair Values of Assets and Liabilities)). The remaining residential MLHFS are held at the lower of cost or fair value (LOCOM) and are measured on an aggregate portfolio basis. Commercial MLHFS are held at LOCOM and are measured on an individual loan basis. Loans held for sale (LHFS) include commercial loans originated for sale and purchased loans used in market-making activities in our trading business. The loans held for trading purposes are carried at fair value, with the remainder of LHFS recorded at LOCOM. LHFS are measured on an individual loan basis. Gains and losses on MLHFS are generally recorded in mortgage banking noninterest income. Gains and losses on LHFS used in trading activities are recognized in net gains from trading activities. Gains and losses on LHFS not used in trading activities are recognized in other noninterest income. Direct loan origination costs and fees for MLHFS and LHFS under the fair value option are recognized in earnings at origination. For MLHFS and LHFS recorded at LOCOM, loan costs and fees are deferred at origination and are recognized in earnings at time of sale. Interest income on MLHFS and LHFS is calculated based upon the note rate of the loan and is recorded in interest income. Our lines of business are authorized to originate held-for-investment loans that meet or exceed established loan product profitability criteria, including minimum positive net interest margin spreads in excess of funding costs. When a determination is made at the time of commitment to originate loans as held for investment, it is our intent to hold these loans to maturity or for the “foreseeable future,” subject to periodic review under our management evaluation processes, including corporate asset/liability management. In determining the “foreseeable future” for loans, management considers (1) the current economic environment and market conditions, (2) our business strategy and current business plans, (3) the nature and type of the loan receivable, including its expected life, and (4) our current financial condition and liquidity demands. If subsequent changes, including changes in interest rates, significantly impact the ongoing profitability of certain loan products, we may subsequently change our intent to hold these loans, and we would take actions to sell such loans. Upon such management determination, we immediately transfer these loans to the MLHFS or LHFS portfolio at LOCOM. Loans Loans are reported at their outstanding principal balances net of any unearned income, cumulative charge-offs, unamortized deferred fees and costs on originated loans and unamortized premiums or discounts on purchased loans. Purchased credit-impaired (PCI) loans are reported net of any remaining purchase accounting adjustments. See the “Purchased Credit-Impaired Loans” section in this Note for our accounting policy for PCI loans. Unearned income, deferred fees and costs, and discounts and premiums are amortized to interest income over the contractual life of the loan using the effective interest method. Loan commitment fees are generally deferred and amortized into noninterest income on a straight-line basis over the commitment period. Loans also include financing leases where we are the lessor. See the “Leasing Activity” section in this Note for our accounting policy for leases. NONACCRUAL AND PAST DUE LOANS We generally place loans on nonaccrual status when: • the full and timely collection of interest or principal becomes uncertain (generally based on an assessment of the borrower’s financial condition and the adequacy of collateral, if any), such as in bankruptcy or other circumstances; • they are 90 days ( 120 days with respect to real estate 1-4 family mortgages) past due for interest or principal, unless both well-secured and in the process of collection; • part of the principal balance has been charged off; or • for junior lien mortgages, we have evidence that the related first lien mortgage may be 120 days past due or in the process of foreclosure regardless of the junior lien delinquency status. Credit card loans are not placed on nonaccrual status, but are generally fully charged off when the loan reaches 180 days past due. PCI loans are written down at acquisition to fair value using an estimate of cash flows deemed to be collectible and an accretable yield is established. Accordingly, such loans are not classified as nonaccrual because they continue to earn interest from accretable yield, independent of performance in accordance of their contractual terms, and we expect to fully collect the new carrying values of such loans (that is, the new cost basis arising out of purchase accounting). When we place a loan on nonaccrual status, we reverse the accrued unpaid interest receivable against interest income and suspend amortization of any net deferred fees. If the ultimate collectability of the recorded loan balance is in doubt on a nonaccrual loan, the cost recovery method is used and cash collected is applied to first reduce the carrying value of the loan. Otherwise, interest income may be recognized to the extent cash is received. Generally, we return a loan to accrual status when all delinquent interest and principal become current under the terms of the loan agreement and collectability of remaining principal and interest is no longer doubtful. We typically re-underwrite modified loans at the time of a restructuring to determine if there is sufficient evidence of sustained repayment capacity based on the borrower’s financial strength, including documented income, debt to income ratios and other factors. If the borrower has demonstrated performance under the previous terms and the underwriting process shows the capacity to continue to perform under the restructured terms, the loan will generally remain in accruing status. When a loan classified as a troubled debt restructuring (TDR) performs in accordance with its modified terms, the loan either continues to accrue interest (for performing loans) or will return to accrual status after the borrower demonstrates a sustained period of performance (generally six consecutive months of payments, or equivalent, inclusive of consecutive payments made prior to the modification). Loans will be placed on nonaccrual status and a corresponding charge-off is recorded if we believe it is probable that principal and interest contractually due under the modified terms of the agreement will not be collectible. Our loans are considered past due when contractually required principal or interest payments have not been made on the due dates. LOAN CHARGE-OFF POLICIES For commercial loans, we generally fully charge off or charge down to net realizable value (fair value of collateral, less estimated costs to sell) for loans secured by collateral when: • management judges the loan to be uncollectible; • repayment is deemed to be protracted beyond reasonable time frames; • the loan has been classified as a loss by either our internal loan review process or our banking regulatory agencies; • the customer has filed bankruptcy and the loss becomes evident owing to a lack of assets; or • the loan is 180 days past due unless both well-secured and in the process of collection. For consumer loans, we fully charge off or charge down to net realizable value when deemed uncollectible due to bankruptcy or other factors, or no later than reaching a defined number of days past due, as follows: • Real estate 1-4 family mortgages – We generally charge down to net realizable value when the loan is 180 days past due. • Automobile loans – We generally fully charge off when the loan is 120 days past due. • Credit card loans – We generally fully charge off when the loan is 180 days past due. • Unsecured loans (closed end) – We generally fully charge off when the loan is 120 days past due. • Unsecured loans (open end) – We generally fully charge off when the loan is 180 days past due. • Other secured loans – We generally fully or partially charge down to net realizable value when the loan is 120 days past due. IMPAIRED LOANS We consider a loan to be impaired when, based on current information and events, we determine that we will not be able to collect all amounts due according to the loan contract, including scheduled interest payments. This evaluation is generally based on delinquency information, an assessment of the borrower’s financial condition and the adequacy of collateral, if any. 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. When we identify a loan as impaired, we generally measure the impairment, if any, based on the difference between the recorded investment in the loan (net of previous charge-offs, deferred loan fees or costs and unamortized premium or discount) and the present value of expected future cash flows, discounted at the loan’s pre-modification effective interest rate. When the value of an impaired loan is calculated by discounting expected cash flows, interest income is recognized using the loan’s pre-modification effective interest rate over the remaining life of the loan. When collateral is the sole source of repayment for the impaired loan, rather than the borrower’s income or other sources of repayment, we charge down to net realizable value. TROUBLED DEBT RESTRUCTURINGS In situations where, 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 the borrower that we would not otherwise consider, the related loan is classified as a TDR. These modified terms may include interest rate reductions, principal forgiveness, term extensions, payment forbearance and other actions intended to minimize our economic loss and to avoid foreclosure or repossession of the collateral, if applicable. For modifications where we forgive principal, the entire amount of such principal forgiveness is immediately charged off. Loans classified as TDRs, including loans in trial payment periods (trial modifications), are considered impaired loans. Other than resolutions such as foreclosures, sales and transfers to held-for-sale, we may remove loans held for investment from TDR classification, but only if they have been refinanced or restructured at market terms and qualify as a new loan. PURCHASED CREDIT-IMPAIRED LOANS Loans acquired with evidence of credit deterioration since their origination and where it is probable that we will not collect all contractually required principal and interest payments are PCI loans. PCI loans are recorded at fair value at the date of acquisition, and the historical allowance for credit losses related to these loans is not carried over. Fair value at date of acquisition is generally determined using a discounted cash flow method and any excess cash flow expected to be collected over the carrying value (estimated fair value at acquisition date) is referred to as the accretable yield and is recognized in interest income using an effective yield method over the remaining life of the loan, or pool of loans if aggregated based on common risk characteristics. The difference between contractually required payments and the cash flows expected to be collected at acquisition, considering the impact of prepayments, is referred to as the nonaccretable difference. Based on quarterly evaluations of remaining cash flows expected to be collected, expected decreases may result in recording a provision for loss and expected increases may result in a prospective yield adjustment after first reversing any allowance for losses related to the loan, or pool of loans. Resolutions of loans may include sales of loans to third parties, receipt of payments in settlement with the borrower, or foreclosure of the collateral. For individual PCI loans, gains or losses on sales to third parties are included in other noninterest income, and gains or losses as a result of a settlement with the borrower are included in interest income. Our policy is to remove an individual loan from a pool based on comparing the amount received from its resolution with its contractual amount. Any difference between these amounts is absorbed by the nonaccretable difference for the entire pool, which assumes that the amount received from resolution approximates pool performance expectation |
Business Combinations
Business Combinations | 12 Months Ended |
Dec. 31, 2019 | |
Business Combinations [Abstract] | |
Business Combinations | Note 2: Business Combinations There were no acquisitions during 2019 or 2018 . As of December 31, 2019 , we had no pending acquisitions. During 2019, we completed the sale of our Institutional Retirement and Trust (IRT) business in July and the sale of our Eastdil Secured (Eastdil) business in October, recognizing pre-tax gains within other noninterest income of $1.1 billion and $362 million , respectively. For the IRT business, we will continue to administer client assets at the direction of the buyer for up to 24 months from the closing date pursuant to a transition services agreement. The buyer will receive post-closing revenue from the client assets and will pay us a fee for certain costs that we incur to administer the client assets during the transition period. The transition services fee will be recognized as other noninterest income, and the expenses we incur will be recognized in the same manner as they were prior to the close of the sale. Transition period revenue is expected to approximate transition period expenses and is subject to downward adjustment as client assets transition to the buyer’s platform. No IRT client assets were transitioned to the buyer’s platform as of December 31, 2019 . At December 31, 2019 , we had assets under management (AUM) and assets under administration (AUA) associated with the IRT business of $21 billion and $915 billion , respectively. During 2018, we completed the sale of Wells Fargo Shareowner Services in February, the sale of the automobile lending business of Reliable Financial Services, Inc., and Reliable Finance Holding Company in August, and the sale of 52 branches in Indiana, Ohio, Michigan and part of Wisconsin in November. Included with the branches sale were approximately $2.0 billion |
Cash, Loan and Dividend Restric
Cash, Loan and Dividend Restrictions | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of Restrictions on Dividends, Loans and Advances Disclosure [Abstract] | |
Cash, Loan and Dividend Restrictions | Note 3: Cash, Loan and Dividend Restrictions Cash and cash equivalents may be restricted as to usage or withdrawal. FRB regulations require that each of our subsidiary banks maintain reserve balances on deposit with the Federal Reserve Banks. Table 3.1 provides a summary of restrictions on cash equivalents in addition to the FRB reserve cash balance requirements. Table 3.1: Nature of Restrictions on Cash Equivalents (in millions) Dec 31, Dec 31, Average required reserve balance for FRB (1) $ 11,374 12,428 Reserve balance for non-U.S. central banks 460 517 Segregated for benefit of brokerage customers under federal and other brokerage regulations 733 1,135 Related to consolidated variable interest entities (VIEs) that can only be used to settle liabilities of VIEs 300 147 (1) FRB required reserve balance represents average for the years ended December 31, 2019 , and December 31, 2018 . Federal law restricts the amount and the terms of both credit and non-credit transactions between a bank and its nonbank affiliates. These covered transactions may not exceed 10% of the bank’s capital and surplus (which for this purpose represents Tier 1 and Tier 2 capital, as calculated under the risk-based capital (RBC) guidelines, plus the balance of the ACL excluded from Tier 2 capital) with any single nonbank affiliate and 20% of the bank’s capital and surplus with all its nonbank affiliates. Transactions that are extensions of credit may require collateral to be held to provide added security to the bank. For further discussion of RBC, see Note 29 (Regulatory and Agency Capital Requirements) in this Report. Dividends paid by our subsidiary banks are subject to various federal and state regulatory limitations. Dividends that may be paid by a national bank without the express approval of the Office of the Comptroller of the Currency (OCC) are limited to that bank’s retained net profits for the preceding two calendar years plus retained net profits up to the date of any dividend declaration in the current calendar year. Retained net profits, as defined by the OCC, consist of net income less dividends declared during the period. We have a state-chartered subsidiary bank that is subject to state regulations that limit dividends. Under these provisions and regulatory limitations, our national and state-chartered subsidiary banks could have declared additional dividends of $5.4 billion at December 31, 2019 , without obtaining prior regulatory approval. We have elected to retain higher capital at our national and state-chartered subsidiary banks in order to meet internal capital policy minimums and regulatory requirements. Our nonbank subsidiaries are also limited by certain federal and state statutory provisions and regulations covering the amount of dividends that may be paid in any given year. In addition, under a Support Agreement dated June 28, 2017, as amended and restated on June 26, 2019, among Wells Fargo & Company, the parent holding company (the “Parent”), WFC Holdings, LLC, an intermediate holding company and subsidiary of the Parent (the “IHC”), Wells Fargo Bank, N.A., Wells Fargo Securities, LLC, Wells Fargo Clearing Services, LLC, and certain other direct and indirect subsidiaries of the Parent designated as material entities for resolution planning purposes or identified as related support entities in our resolution plan, the IHC may be restricted from making dividend payments to the Parent if certain liquidity and/or capital metrics fall below defined triggers, or if the Parent’s board of directors authorizes it to file a case under the U.S. Bankruptcy Code. Based on retained earnings at December 31, 2019 , our nonbank subsidiaries could have declared additional dividends of $25.9 billion at December 31, 2019 , without obtaining prior regulatory approval. The FRB’s Capital Plan Rule (codified at 12 CFR 225.8 of Regulation Y) establishes capital planning and prior notice and approval requirements for capital distributions including dividends by certain large bank holding companies. The FRB has also published guidance regarding its supervisory expectations for capital planning, including capital policies regarding the process relating to common stock dividend and repurchase decisions in the FRB’s SR Letter 15-18. The effect of this guidance is to require the approval of the FRB (or specifically under the Capital Plan Rule, a notice of non-objection) for the repurchase or redemption of common or perpetual preferred stock as well as to raise the per share quarterly dividend from its current level of $0.51 per share as declared by the Company’s Board of Directors (Board) on January 28, 2020 , payable on March 1, 2020 . |
Trading Activities
Trading Activities | 12 Months Ended |
Dec. 31, 2019 | |
Trading Activities [Abstract] | |
Trading Activities | Note 4: Trading Activities Table 4.1 presents a summary of our trading assets and liabilities measured at fair value through earnings. Table 4.1: Trading Assets and Liabilities (in millions) Dec 31, Dec 31, Trading assets: Debt securities $ 79,733 69,989 Equity securities 27,440 19,449 Loans held for sale 972 1,469 Gross trading derivative assets 34,825 29,216 Netting (1) (21,463 ) (19,807 ) Total trading derivative assets 13,362 9,409 Total trading assets 121,507 100,316 Trading liabilities: Short sale 17,430 19,720 Gross trading derivative liabilities 33,861 28,717 Netting (1) (26,074 ) (21,178 ) Total trading derivative liabilities 7,787 7,539 Total trading liabilities $ 25,217 27,259 (1) Represents balance sheet netting for trading derivative asset and liability balances, and trading portfolio level counterparty valuation adjustments. Table 4.2 provides a summary of the net interest income earned from trading securities, and net gains and losses due to the realized and unrealized gains and losses from trading activities. Net interest income also includes dividend income on trading securities and dividend expense on trading securities we have sold, but not yet purchased. Table 4.2: Net Interest Income and Net Gains (Losses) on Trading Activities Year ended December 31, (in millions) 2019 2018 2017 Interest income: Debt securities $ 3,130 2,831 2,313 Equity securities 579 587 515 Loans held for sale 78 62 38 Total interest income 3,787 3,480 2,866 Less: Interest expense 525 587 416 Net interest income 3,262 2,893 2,450 Net gains (losses) from trading activities (1): Debt securities 1,053 (824 ) 125 Equity securities 4,795 (4,240 ) 3,394 Loans held for sale 12 (1 ) 45 Derivatives (2) (4,867 ) 5,667 (3,022 ) Total net gains from trading activities 993 602 542 Total trading-related net interest and noninterest income $ 4,255 3,495 2,992 (1) Represents realized gains (losses) from our trading activities and unrealized gains (losses) due to changes in fair value of our trading positions. (2) Excludes economic hedging of mortgage banking and asset/liability management activities, for which hedge results (realized and unrealized) are reported with the respective hedged activities. |
AFS and HTM Debt Securities
AFS and HTM Debt Securities | 12 Months Ended |
Dec. 31, 2019 | |
AFS and HTM Debt Securities [Abstract] | |
AFS and HTM Debt Securities | Note 5: Available-for-Sale and Held-to-Maturity Debt Securities Table 5.1 provides the amortized cost and fair value by major categories of available-for-sale debt 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 debt securities are reported on an after-tax basis as a component of cumulative OCI. Information on debt securities held for trading is included in Note 4 (Trading Activities). Table 5.1: Amortized Cost and Fair Value (in millions) Amortized cost Gross unrealized gains Gross unrealized losses Fair value December 31, 2019 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ 14,948 13 (1 ) 14,960 Securities of U.S. states and political subdivisions (1) 39,381 992 (36 ) 40,337 Mortgage-backed securities: Federal agencies 160,318 2,299 (164 ) 162,453 Residential 814 14 (1 ) 827 Commercial 3,899 41 (6 ) 3,934 Total mortgage-backed securities 165,031 2,354 (171 ) 167,214 Corporate debt securities 6,343 252 (32 ) 6,563 Collateralized loan and other debt obligations 29,693 125 (123 ) 29,695 Other (2) 4,664 50 (24 ) 4,690 Total available-for-sale debt securities 260,060 3,786 (387 ) 263,459 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies 45,541 617 (19 ) 46,139 Securities of U.S. states and political subdivisions 13,486 286 (13 ) 13,759 Federal agency and other mortgage-backed securities (3) 94,869 2,093 (37 ) 96,925 Other debt securities 37 — — 37 Total held-to-maturity debt securities 153,933 2,996 (69 ) 156,860 Total (4) $ 413,993 6,782 (456 ) 420,319 December 31, 2018 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ 13,451 3 (106 ) 13,348 Securities of U.S. states and political subdivisions (1) 48,994 716 (446 ) 49,264 Mortgage-backed securities: Federal agencies 155,974 369 (3,140 ) 153,203 Residential 2,638 142 (5 ) 2,775 Commercial 4,207 40 (22 ) 4,225 Total mortgage-backed securities 162,819 551 (3,167 ) 160,203 Corporate debt securities 6,230 131 (90 ) 6,271 Collateralized loan and other debt obligations 35,581 158 (396 ) 35,343 Other (2) 5,396 100 (13 ) 5,483 Total available-for-sale debt securities 272,471 1,659 (4,218 ) 269,912 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies 44,751 4 (415 ) 44,340 Securities of U.S. states and political subdivisions 6,286 30 (116 ) 6,200 Federal agency and other mortgage-backed securities (3) 93,685 112 (2,288 ) 91,509 Other debt securities 66 — — 66 Total held-to-maturity debt securities 144,788 146 (2,819 ) 142,115 Total (4) $ 417,259 1,805 (7,037 ) 412,027 (1) Includes investments in tax-exempt preferred debt securities issued by investment funds or trusts that predominantly invest in tax-exempt municipal securities. The amortized cost and fair value of these types of securities was $5.8 billion each at December 31, 2019 , and $6.3 billion each at December 31, 2018 . (2) Largely includes asset-backed securities collateralized by student loans. (3) Predominantly consists of federal agency mortgage-backed securities at both December 31, 2019 , and December 31, 2018 . (4) We held debt securities from Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC) that each exceeded 10% of shareholders’ equity, with an amortized cost of $112.1 billion and $89.9 billion and a fair value of $114.0 billion and $91.4 billion at December 31, 2019 , and an amortized cost of $99.0 billion and $95.0 billion and a fair value of $97.6 billion and $93.0 billion at December 31, 2018 , respectively. Gross Unrealized Losses and Fair Value Table 5.2 shows the gross unrealized losses and fair value of available-for-sale and held-to-maturity debt securities by length of time those 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 5.2: 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 December 31, 2019 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ — — (1 ) 2,423 (1 ) 2,423 Securities of U.S. states and political subdivisions (10 ) 2,776 (26 ) 2,418 (36 ) 5,194 Mortgage-backed securities: Federal agencies (50 ) 16,807 (114 ) 10,641 (164 ) 27,448 Residential (1 ) 149 — — (1 ) 149 Commercial (3 ) 998 (3 ) 244 (6 ) 1,242 Total mortgage-backed securities (54 ) 17,954 (117 ) 10,885 (171 ) 28,839 Corporate debt securities (9 ) 303 (23 ) 216 (32 ) 519 Collateralized loan and other debt obligations (13 ) 5,070 (110 ) 16,789 (123 ) 21,859 Other (12 ) 1,587 (12 ) 492 (24 ) 2,079 Total available-for-sale debt securities (98 ) 27,690 (289 ) 33,223 (387 ) 60,913 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies (19 ) 989 — — (19 ) 989 Securities of U.S. states and political subdivisions (9 ) 613 (4 ) 57 (13 ) 670 Federal agency and other mortgage-backed securities (35 ) 5,825 (2 ) 31 (37 ) 5,856 Total held-to-maturity debt securities (63 ) 7,427 (6 ) 88 (69 ) 7,515 Total $ (161 ) 35,117 (295 ) 33,311 (456 ) 68,428 December 31, 2018 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ (1 ) 498 (105 ) 6,204 (106 ) 6,702 Securities of U.S. states and political subdivisions (73 ) 9,746 (373 ) 9,017 (446 ) 18,763 Mortgage-backed securities: Federal agencies (42 ) 10,979 (3,098 ) 112,252 (3,140 ) 123,231 Residential (3 ) 398 (2 ) 69 (5 ) 467 Commercial (20 ) 1,972 (2 ) 79 (22 ) 2,051 Total mortgage-backed securities (65 ) 13,349 (3,102 ) 112,400 (3,167 ) 125,749 Corporate debt securities (64 ) 1,965 (26 ) 298 (90 ) 2,263 Collateralized loan and other debt obligations (388 ) 28,306 (8 ) 553 (396 ) 28,859 Other (7 ) 819 (6 ) 159 (13 ) 978 Total available-for-sale debt securities (598 ) 54,683 (3,620 ) 128,631 (4,218 ) 183,314 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies (3 ) 895 (412 ) 41,083 (415 ) 41,978 Securities of U.S. states and political subdivisions (4 ) 598 (112 ) 3,992 (116 ) 4,590 Federal agency and other mortgage-backed securities (5 ) 4,635 (2,283 ) 77,741 (2,288 ) 82,376 Total held-to-maturity debt securities (12 ) 6,128 (2,807 ) 122,816 (2,819 ) 128,944 Total $ (610 ) 60,811 (6,427 ) 251,447 (7,037 ) 312,258 We have assessed each debt 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 debt 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. We evaluate, where necessary, whether credit impairment exists by comparing the present value of the expected cash flows to the debt securities’ amortized cost basis. For descriptions of the factors we consider when analyzing debt securities for impairment, see Note 1 (Summary of Significant Accounting Policies) and below. SECURITIES OF U.S. TREASURY AND FEDERAL AGENCIES AND FEDERAL AGENCY MORTGAGE-BACKED SECURITIES (MBS) The unrealized losses associated with U.S. Treasury and federal agency securities and federal agency MBS are generally driven by changes in interest rates and not due to credit losses given the explicit or implicit guarantees provided by the U.S. government. SECURITIES OF U.S. STATES AND POLITICAL SUBDIVISIONS The unrealized losses associated with securities of U.S. states and political subdivisions are usually driven by changes in the relationship between municipal and term funding credit curves rather than by changes to the credit quality of the underlying securities. Substantially all of these investments with unrealized losses are investment grade. The securities were generally underwritten in accordance with our own investment standards prior to the decision to purchase. Some of these securities are guaranteed by a bond insurer, but we did not rely on this guarantee when making our investment decision. These investments will continue to be monitored as part of our ongoing impairment analysis but are expected to perform, even if the rating agencies reduce the credit rating of the bond insurers. As a result, we expect to recover the entire amortized cost basis of these securities. RESIDENTIAL AND COMMERCIAL MBS The unrealized losses associated with private residential MBS and commercial MBS are generally driven by changes in projected collateral losses, credit spreads and interest rates. We assess for credit impairment by estimating the present value of expected cash flows. The key assumptions for determining expected cash flows include default rates, loss severities and/or prepayment rates. We estimate security losses by forecasting the underlying mortgage loans in each transaction. We use forecasted loan performance to project cash flows to the various tranches in the structure. We also consider cash flow forecasts and, as applicable, independent industry analyst reports and forecasts, sector credit ratings, and other independent market data. Based upon our assessment of the expected credit losses and the credit enhancement level of the securities, we expect to recover the entire amortized cost basis of these securities. CORPORATE DEBT SECURITIES The unrealized losses associated with corporate debt securities are predominantly related to unsecured debt obligations issued by various corporations. We evaluate the financial performance of each issuer on a quarterly basis to determine if the issuer can make all contractual principal and interest payments. Based upon this assessment, we expect to recover the entire amortized cost basis of these securities. COLLATERALIZED LOAN AND OTHER DEBT OBLIGATIONS The unrealized losses associated with collateralized loan and other debt obligations relate to securities predominantly backed by commercial collateral. The unrealized losses are typically driven by changes in projected collateral losses, credit spreads and interest rates. We assess for credit impairment by estimating the present value of expected cash flows. The key assumptions for determining expected cash flows include default rates, loss severities and prepayment rates. We also consider cash flow forecasts and, as applicable, independent industry analyst reports and forecasts, sector credit ratings, and other independent market data. Based upon our assessment of the expected credit losses and the credit enhancement level of the securities, we expect to recover the entire amortized cost basis of these securities. OTHER DEBT SECURITIES The unrealized losses associated with other debt securities predominantly relate to other asset-backed securities. The losses are usually driven by changes in projected collateral losses, credit spreads and interest rates. We assess for credit impairment by estimating the present value of expected cash flows. The key assumptions for determining expected cash flows include default rates, loss severities and prepayment rates. Based upon our assessment of the expected credit losses and the credit enhancement level of the securities, we expect to recover the entire amortized cost basis of these securities. OTHER DEBT SECURITIES MATTERS The fair values of our debt securities could decline in the future if the underlying performance of the collateral for the residential and commercial MBS or other securities deteriorate, and our credit enhancement levels do not provide sufficient protection to our contractual principal and interest. As a result, there is a risk that significant OTTI may occur in the future. Table 5.3 shows the gross unrealized losses and fair value of the available-for-sale and held-to-maturity debt 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 debt security. Debt 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, debt securities rated below investment grade, labeled as “speculative grade” by the rating agencies, are considered to be distinctively higher credit risk than investment grade debt securities. We have also included debt securities not rated by S&P or Moody’s in the table below based on our internal credit grade of the debt 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 debt securities categorized as investment grade based on internal credit grades were $7 million and $2.2 billion , respectively, at December 31, 2019 , and $20 million and $5.2 billion , respectively, at December 31, 2018 . If an internal credit grade was not assigned, we categorized the debt security as non-investment grade. Table 5.3: 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 December 31, 2019 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ (1 ) 2,423 — — Securities of U.S. states and political subdivisions (32 ) 5,019 (4 ) 175 Mortgage-backed securities: Federal agencies (164 ) 27,448 — — Residential (1 ) 149 — — Commercial (3 ) 1,158 (3 ) 84 Total mortgage-backed securities (168 ) 28,755 (3 ) 84 Corporate debt securities (3 ) 155 (29 ) 364 Collateralized loan and other debt obligations (123 ) 21,859 — — Other (13 ) 1,499 (11 ) 580 Total available-for-sale debt securities (340 ) 59,710 (47 ) 1,203 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies (19 ) 989 — — Securities of U.S. states and political subdivisions (13 ) 670 — — Federal agency and other mortgage-backed securities (25 ) 5,428 (12 ) 428 Total held-to-maturity debt securities (57 ) 7,087 (12 ) 428 Total $ (397 ) 66,797 (59 ) 1,631 December 31, 2018 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ (106 ) 6,702 — — Securities of U.S. states and political subdivisions (425 ) 18,447 (21 ) 316 Mortgage-backed securities: Federal agencies (3,140 ) 123,231 — — Residential (2 ) 295 (3 ) 172 Commercial (20 ) 1,999 (2 ) 52 Total mortgage-backed securities (3,162 ) 125,525 (5 ) 224 Corporate debt securities (17 ) 791 (73 ) 1,472 Collateralized loan and other debt obligations (396 ) 28,859 — — Other (7 ) 726 (6 ) 252 Total available-for-sale debt securities (4,113 ) 181,050 (105 ) 2,264 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies (415 ) 41,978 — — Securities of U.S. states and political subdivisions (116 ) 4,590 — — Federal agency and other mortgage-backed securities (2,278 ) 81,977 (10 ) 399 Total held-to-maturity debt securities (2,809 ) 128,545 (10 ) 399 Total $ (6,922 ) 309,595 (115 ) 2,663 Contractual Maturities Table 5.4 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 5.4: Available-for-Sale Debt Securities – Fair Value by Contractual Maturity Remaining contractual maturity Total Within one year After one year After five years After ten years (in millions) amount Yield Amount Yield Amount Yield Amount Yield Amount Yield December 31, 2019 Available-for-sale debt securities (1): Fair value: Securities of U.S. Treasury and federal agencies $ 14,960 1.96 % $ 9,980 1.88 % $ 4,674 2.12 % $ 46 1.83 % $ 260 2.25 % Securities of U.S. states and political subdivisions 40,337 4.82 2,687 2.91 3,208 3.31 4,245 3.21 30,197 5.38 Mortgage-backed securities: Federal agencies 162,453 3.43 — — 152 3.40 1,326 2.52 160,975 3.44 Residential 827 2.78 — — — — — — 827 2.78 Commercial 3,934 3.44 — — 31 4.03 235 3.22 3,668 3.45 Total mortgage-backed securities 167,214 3.43 — — 183 3.51 1,561 2.62 165,470 3.43 Corporate debt securities 6,563 4.83 460 5.37 2,251 4.93 3,070 4.64 782 4.98 Collateralized loan and other debt obligations 29,695 3.33 — — — — 12,137 3.43 17,558 3.27 Other 4,690 2.57 35 4.16 687 3.15 1,408 1.80 2,560 2.81 Total available-for-sale debt securities at fair value $ 263,459 3.57 % $ 13,162 2.22 % $ 11,003 3.12 % $ 22,467 3.39 % $ 216,827 3.69 % (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 5.5 shows the amortized cost and weighted-average yields of held-to-maturity debt securities by contractual maturity. Table 5.5: Held-to-Maturity Debt Securities – 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 December 31, 2019 Held-to-maturity debt securities (1): Amortized cost: Securities of U.S. Treasury and federal agencies $ 45,541 2.12 % $ 1,296 1.75 % $ 42,242 2.13 % $ 1,244 2.00 % $ 759 2.33 % Securities of U.S. states and political subdivisions 13,486 4.89 — — 87 5.95 1,866 4.80 11,533 4.90 Federal agency and other mortgage-backed securities 94,869 3.08 — — 15 3.10 — — 94,854 3.08 Other debt securities 37 3.18 — — — — 37 3.18 — — Total held-to-maturity debt securities at amortized cost $ 153,933 2.95 % $ 1,296 1.75 % $ 42,344 2.14 % $ 3,147 3.68 % $ 107,146 3.27 % (1) Weighted-average yields displayed by maturity bucket are weighted based on amortized cost and predominantly represent contractual coupon rates. Table 5.6 shows the fair value of held-to-maturity debt securities by contractual maturity. Table 5.6: Held-to-Maturity Debt Securities – Fair Value by Contractual Maturity Remaining contractual maturity Total Within After one year through five years After five years After ten years (in millions) amount Amount Amount Amount Amount December 31, 2019 Held-to-maturity debt securities: Fair value: Securities of U.S. Treasury and federal agencies $ 46,139 1,301 42,830 1,268 740 Securities of U.S. states and political subdivisions 13,759 — 87 1,940 11,732 Federal agency and other mortgage-backed securities 96,925 — 15 — 96,910 Other debt securities 37 — — 37 — Total held-to-maturity debt securities at fair value $ 156,860 1,301 42,932 3,245 109,382 Realized Gains and Losses Table 5.7 shows the gross realized gains and losses on sales and OTTI write-downs related to available-for-sale debt securities. Table 5.7: Realized Gains and Losses Year ended December 31, (in millions) 2019 2018 2017 Gross realized gains $ 227 155 948 Gross realized losses (24 ) (19 ) (207 ) OTTI write-downs (63 ) (28 ) (262 ) Net realized gains from available-for-sale debt securities $ 140 108 479 Other-Than-Temporary Impaired Debt Securities Table 5.8 shows the detail of total OTTI write-downs included in earnings for available-for-sale debt securities. There were no OTTI write-downs on held-to-maturity debt securities during the years ended December 31, 2019 , 2018 or 2017 . Table 5.8: Detail of OTTI Write-downs Year ended December 31, (in millions) 2019 2018 2017 Debt securities OTTI write-downs included in earnings: Securities of U.S. states and political subdivisions $ 33 2 150 Mortgage-backed securities: Residential — 4 11 Commercial 17 18 80 Corporate debt securities 13 — 21 Other debt securities — 4 — Total debt securities OTTI write-downs included in earnings $ 63 28 262 Table 5.9 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 5.9: OTTI Write-downs Included in Earnings and the Related Changes in OCI Year ended December 31, (in millions) 2019 2018 2017 OTTI on debt securities Recorded as part of gross realized losses: Credit-related OTTI $ 27 27 119 Intent-to-sell OTTI 36 1 143 Total recorded as part of gross realized losses 63 28 262 Changes to OCI for losses (reversal of losses) in non-credit-related OTTI (1): Securities of U.S. states and political subdivisions (1 ) (2 ) (5 ) Residential mortgage-backed securities (1 ) 2 (1 ) Commercial mortgage-backed securities 2 (11 ) (51 ) Other debt securities 1 — — Total changes to OCI for non-credit-related OTTI 1 (11 ) (57 ) Total OTTI losses recorded on debt securities $ 64 17 205 (1) Represents amounts recorded to OCI for impairment of debt securities, due to factors other than credit 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 debt securities due to non-credit factors. Table 5.10 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. We have not recognized OTTI on held-to-maturity debt securities we still own. 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 5.10: Rollforward of OTTI Credit Loss Year ended December 31, (in millions) 2019 2018 2017 Credit loss recognized, beginning of year $ 562 742 1,043 Additions: For securities with initial credit impairments 6 1 9 For securities with previous credit impairments 21 26 110 Total additions 27 27 119 Reductions: For securities sold, matured, or intended/required to be sold (390 ) (204 ) (414 ) For recoveries of previous credit impairments (1) — (3 ) (6 ) Total reductions (390 ) (207 ) (420 ) Credit loss recognized, end of year $ 199 562 742 (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 | 12 Months Ended |
Dec. 31, 2019 | |
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |
Loans and Allowance for Credit Losses | Note 6: Loans and Allowance for Credit Losses Table 6.1 presents total loans outstanding by portfolio segment and class of financing receivable. Outstanding balances include unearned income, net deferred loan fees or costs, and unamortized discounts and premiums. These amounts were less than 1% of our total loans outstanding at December 31, 2019 , and December 31, 2018 . Table 6.1: Loans Outstanding December 31, (in millions) 2019 2018 2017 2016 2015 Commercial: Commercial and industrial $ 354,125 350,199 333,125 330,840 299,892 Real estate mortgage 121,824 121,014 126,599 132,491 122,160 Real estate construction 19,939 22,496 24,279 23,916 22,164 Lease financing 19,831 19,696 19,385 19,289 12,367 Total commercial 515,719 513,405 503,388 506,536 456,583 Consumer: Real estate 1-4 family first mortgage 293,847 285,065 284,054 275,579 273,869 Real estate 1-4 family junior lien mortgage 29,509 34,398 39,713 46,237 53,004 Credit card 41,013 39,025 37,976 36,700 34,039 Automobile 47,873 45,069 53,371 62,286 59,966 Other revolving credit and installment 34,304 36,148 38,268 40,266 39,098 Total consumer 446,546 439,705 453,382 461,068 459,976 Total loans $ 962,265 953,110 956,770 967,604 916,559 Our non-U.S. loans are reported by respective class of financing receivable in the table above. Substantially all of our non-U.S. loan portfolio is commercial loans. Table 6.2 presents total non-U.S. commercial loans outstanding by class of financing receivable. Table 6.2: Non-U.S. Commercial Loans Outstanding December 31, (in millions) 2019 2018 2017 2016 2015 Non-U.S. commercial loans: Commercial and industrial $ 70,494 62,564 60,106 55,396 49,049 Real estate mortgage 7,004 6,731 8,033 8,541 8,350 Real estate construction 1,434 1,011 655 375 444 Lease financing 1,220 1,159 1,126 972 274 Total non-U.S. commercial loans $ 80,152 71,465 69,920 65,284 58,117 Loan Concentrations Loan concentrations may exist when there are amounts loaned to borrowers engaged in similar activities or similar types of loans extended to a diverse group of borrowers that would cause them to be similarly impacted by economic or other conditions. Commercial and industrial loans and lease financing to borrowers in the financial institutions except banks industry represented 12% and 11% of total loans at December 31, 2019 and 2018 , respectively. At December 31, 2019 and 2018 , we did not have concentrations representing 10% or more of our total loan portfolio in the commercial real estate (CRE) portfolios (real estate mortgage and real estate construction) by state or property type. Real estate 1-4 family non-PCI mortgage loans to borrowers in the state of California represented 13% and 12% of total loans at December 31, 2019 and 2018 , respectively, and PCI loans were under 1% in both years. These California loans are generally diversified among the larger metropolitan areas in California, with no single area consisting of more than 5% of total loans. We continuously monitor changes in real estate values and underlying economic or market conditions for all geographic areas of our real estate 1-4 family mortgage portfolio as part of our credit risk management process. Some of our real estate 1-4 family mortgage loans include an interest-only feature as part of the loan terms. These interest-only loans were approximately 3% and 4% of total loans at December 31, 2019 and 2018, respectively. Substantially all of these interest-only loans at origination were considered to be prime or near prime. We do not offer option adjustable-rate mortgage (ARM) products, nor do we offer variable-rate mortgage products with fixed payment amounts, commonly referred to within the financial services industry as negative amortizing mortgage loans. We acquired an option payment loan portfolio (Pick-a-Pay) from Wachovia with a majority of the portfolio identified as PCI loans. Since the acquisition, we have reduced our exposure to the option payment portion of the portfolio through our modification efforts and loss mitigation actions. At December 31, 2019 , these option payment loans were less than 1% of total loans. Our first and junior lien lines of credit products generally have draw periods of 10 , 15 or 20 years , with variable interest rate and payment options during the draw period of (1) interest only or (2) 1.5% of total outstanding balance plus accrued interest. During the draw period, the borrower has the option of converting all or a portion of the line from a variable interest rate to a fixed rate with terms including interest-only payments for a fixed period between three to seven years or a fully amortizing payment with a fixed period between five to 30 years . At the end of the draw period, a line of credit generally converts to an amortizing payment schedule with repayment terms of up to 30 years based on the balance at time of conversion. At December 31, 2019 , our lines of credit portfolio had an outstanding balance of $37.9 billion , of which $9.1 billion , or 24% , is in its amortization period, another $1.6 billion , or 4% , of our total outstanding balance, will reach their end of draw period during 2020 through 2021 , $11.1 billion , or 29% , during 2022 through 2024 , and $16.1 billion , or 43% , will convert in subsequent years. This portfolio had unfunded credit commitments of $58.9 billion at December 31, 2019 . The lines that enter their amortization period may experience higher delinquencies and higher loss rates than the lines in their draw period. At December 31, 2019 , $399 million , or 4% , of outstanding lines of credit that are in their amortization period were 30 or more days past due, compared with $488 million , or 2% , for lines in their draw period. We have considered this increased inherent risk in our ACL estimate. In anticipation of our borrowers reaching the end of their contractual commitment, we have created a program to inform, educate and help these borrowers transition from interest-only to fully-amortizing payments or full repayment. We monitor the performance of the borrowers moving through the program in an effort to refine our ongoing program strategy. Loan Purchases, Sales, and Transfers Table 6.3 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 primarily includes loans purchased and sales of whole loan or participating interests, whereby we receive or transfer a portion of a loan. The table excludes PCI loans, loans for which we have elected the fair value option, and government insured/guaranteed real estate 1-4 family first mortgage loans because their loan activity normally does not impact the ACL. Table 6.3: Loan Purchases, Sales, and Transfers Year ended December 31, 2019 2018 (in millions) Commercial Consumer Total Commercial Consumer Total Purchases $ 2,028 3,126 5,154 2,065 16 2,081 Sales (1,797 ) (530 ) (2,327 ) (1,905 ) (261 ) (2,166 ) Transfers to MLHFS/LHFS (123 ) (1,889 ) (2,012 ) (617 ) (1,995 ) (2,612 ) Commitments to Lend A commitment to lend is a legally binding agreement to lend 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. The unfunded amount of these temporary advance arrangements totaled approximately $75.4 billion at December 31, 2019 . We issue commercial letters of credit to assist customers in purchasing goods or services, typically for international trade. At December 31, 2019 and 2018 , we had $862 million and $919 million , respectively, of outstanding issued commercial letters of credit. We also originate multipurpose lending commitments under which borrowers have the option to draw on the facility for different purposes in one of several forms, including a standby letter of credit. See Note 16 (Guarantees, Pledged Assets and Collateral, and Other Commitments) for additional information on standby letters of credit. When we enter into commitments, we are exposed to credit risk. The maximum credit risk for these commitments will generally be lower than the contractual amount because a significant portion of these commitments are not funded. 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 6.4 . The table excludes the issued standby and commercial letters of credit and temporary advance arrangements described above. Table 6.4: Unfunded Credit Commitments (in millions) Dec 31, Dec 31, Commercial: Commercial and industrial $ 346,991 330,492 Real estate mortgage 8,206 6,984 Real estate construction 17,729 16,400 Total commercial 372,926 353,876 Consumer: Real estate 1-4 family first mortgage 34,391 29,736 Real estate 1-4 family junior lien mortgage 36,916 37,719 Credit card 114,933 109,840 Other revolving credit and installment 25,898 27,530 Total consumer 212,138 204,825 Total unfunded credit commitments $ 585,064 558,701 Allowance for Credit Losses Table 6.5 presents the ACL, which consists of the allowance for loan losses and the allowance for unfunded credit commitments. Table 6.5: Allowance for Credit Losses Year ended December 31, (in millions) 2019 2018 2017 2016 2015 Balance, beginning of year $ 10,707 11,960 12,540 12,512 13,169 Provision for credit losses 2,687 1,744 2,528 3,770 2,442 Interest income on certain impaired loans (1) (147 ) (166 ) (186 ) (205 ) (198 ) Loan charge-offs: Commercial: Commercial and industrial (802 ) (727 ) (789 ) (1,419 ) (734 ) Real estate mortgage (38 ) (42 ) (38 ) (27 ) (59 ) Real estate construction (1 ) — — (1 ) (4 ) Lease financing (70 ) (70 ) (45 ) (41 ) (14 ) Total commercial (911 ) (839 ) (872 ) (1,488 ) (811 ) Consumer: Real estate 1-4 family first mortgage (129 ) (179 ) (240 ) (452 ) (507 ) Real estate 1-4 family junior lien mortgage (118 ) (179 ) (279 ) (495 ) (635 ) Credit card (1,714 ) (1,599 ) (1,481 ) (1,259 ) (1,116 ) Automobile (647 ) (947 ) (1,002 ) (845 ) (742 ) Other revolving credit and installment (674 ) (685 ) (713 ) (708 ) (643 ) Total consumer (3,282 ) (3,589 ) (3,715 ) (3,759 ) (3,643 ) Total loan charge-offs (4,193 ) (4,428 ) (4,587 ) (5,247 ) (4,454 ) Loan recoveries: Commercial: Commercial and industrial 195 304 297 263 252 Real estate mortgage 32 70 82 116 127 Real estate construction 13 13 30 38 37 Lease financing 19 23 17 11 8 Total commercial 259 410 426 428 424 Consumer: Real estate 1-4 family first mortgage 179 267 288 373 245 Real estate 1-4 family junior lien mortgage 184 219 266 266 259 Credit card 344 307 239 207 175 Automobile 341 363 319 325 325 Other revolving credit and installment 124 118 121 128 134 Total consumer 1,172 1,274 1,233 1,299 1,138 Total loan recoveries 1,431 1,684 1,659 1,727 1,562 Net loan charge-offs (2,762 ) (2,744 ) (2,928 ) (3,520 ) (2,892 ) Other (29 ) (87 ) 6 (17 ) (9 ) Balance, end of year $ 10,456 10,707 11,960 12,540 12,512 Components: Allowance for loan losses $ 9,551 9,775 11,004 11,419 11,545 Allowance for unfunded credit commitments 905 932 956 1,121 967 Allowance for credit losses $ 10,456 10,707 11,960 12,540 12,512 Net loan charge-offs as a percentage of average total loans 0.29 % 0.29 0.31 0.37 0.33 Allowance for loan losses as a percentage of total loans 0.99 1.03 1.15 1.18 1.26 Allowance for credit losses as a percentage of total loans 1.09 1.12 1.25 1.30 1.37 (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 6.6 summarizes the activity in the ACL by our commercial and consumer portfolio segments. Table 6.6: Allowance for Credit Losses Activity by Portfolio Segment Year ended December 31, 2019 2018 (in millions) Commercial Consumer Total Commercial Consumer Total Balance, beginning of year $ 6,417 4,290 10,707 6,632 5,328 11,960 Provision for credit losses 518 2,169 2,687 281 1,463 1,744 Interest income on certain impaired loans (46 ) (101 ) (147 ) (47 ) (119 ) (166 ) Loan charge-offs (911 ) (3,282 ) (4,193 ) (839 ) (3,589 ) (4,428 ) Loan recoveries 259 1,172 1,431 410 1,274 1,684 Net loan charge-offs (652 ) (2,110 ) (2,762 ) (429 ) (2,315 ) (2,744 ) Other 8 (37 ) (29 ) (20 ) (67 ) (87 ) Balance, end of year $ 6,245 4,211 10,456 6,417 4,290 10,707 Table 6.7 disaggregates our ACL and recorded investment in loans by impairment methodology. Table 6.7: Allowance for Credit Losses by Impairment Methodology Allowance for credit losses Recorded investment in loans (in millions) Commercial Consumer Total Commercial Consumer Total December 31, 2019 Collectively evaluated (1) $ 5,778 3,364 9,142 512,586 436,081 948,667 Individually evaluated (2) 467 847 1,314 3,133 9,897 13,030 PCI (3) — — — — 568 568 Total $ 6,245 4,211 10,456 515,719 446,546 962,265 December 31, 2018 Collectively evaluated (1) $ 5,903 3,361 9,264 510,180 421,574 931,754 Individually evaluated (2) 514 929 1,443 3,221 13,126 16,347 PCI (3) — — — 4 5,005 5,009 Total $ 6,417 4,290 10,707 513,405 439,705 953,110 (1) Represents non-impaired loans evaluated collectively for impairment. (2) Represents impaired loans evaluated individually for impairment. (3) Represents the allowance for loan losses and related loan carrying value 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 ACL. 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 September 30, 2019 . 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 6.8 provides a breakdown of outstanding commercial loans by risk category. Table 6.8: Commercial Loans by Risk Category (in millions) Commercial and industrial Real estate mortgage Real estate construction Lease financing Total December 31, 2019 By risk category: Pass $ 338,740 118,054 19,752 18,655 495,201 Criticized 15,385 3,770 187 1,176 20,518 Total commercial loans (excluding PCI) 354,125 121,824 19,939 19,831 515,719 Total commercial PCI loans (carrying value) — — — — — Total commercial loans $ 354,125 121,824 19,939 19,831 515,719 December 31, 2018 By risk category: Pass $ 335,412 116,514 22,207 18,671 492,804 Criticized 14,783 4,500 289 1,025 20,597 Total commercial loans (excluding PCI) 350,195 121,014 22,496 19,696 513,401 Total commercial PCI loans (carrying value) 4 — — — 4 Total commercial loans $ 350,199 121,014 22,496 19,696 513,405 Table 6.9 provides past due information for commercial loans, which we monitor as part of our credit risk management practices. Table 6.9: Commercial Loans by Delinquency Status (in millions) Commercial and industrial Real estate mortgage Real estate construction Lease financing Total December 31, 2019 By delinquency status: Current-29 days past due (DPD) and still accruing $ 352,110 120,967 19,845 19,484 512,406 30-89 DPD and still accruing 423 253 53 252 981 90+ DPD and still accruing 47 31 — — 78 Nonaccrual loans 1,545 573 41 95 2,254 Total commercial loans (excluding PCI) 354,125 121,824 19,939 19,831 515,719 Total commercial PCI loans (carrying value) — — — — — Total commercial loans $ 354,125 121,824 19,939 19,831 515,719 December 31, 2018 By delinquency status: Current-29 DPD and still accruing $ 348,158 120,176 22,411 19,443 510,188 30-89 DPD and still accruing 508 207 53 163 931 90+ DPD and still accruing 43 51 — — 94 Nonaccrual loans 1,486 580 32 90 2,188 Total commercial loans (excluding PCI) 350,195 121,014 22,496 19,696 513,401 Total commercial PCI loans (carrying value) 4 — — — 4 Total commercial loans $ 350,199 121,014 22,496 19,696 513,405 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 ACL for the consumer portfolio segment. Many of our loss estimation techniques used for the ACL rely on delinquency-based models; therefore, delinquency is an important indicator of credit quality and the establishment of our ACL. Table 6.10 provides the outstanding balances of our consumer portfolio by delinquency status. Table 6.10: 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 December 31, 2019 By delinquency status: Current-29 DPD $ 279,722 28,870 39,935 46,650 33,981 429,158 30-59 DPD 1,136 216 311 882 140 2,685 60-89 DPD 404 115 221 263 81 1,084 90-119 DPD 197 69 202 77 74 619 120-179 DPD 160 71 343 1 18 593 180+ DPD 503 155 1 — 10 669 Government insured/guaranteed loans (1) 10,999 — — — — 10,999 Loans held at fair value 171 — — — — 171 Total consumer loans (excluding PCI) 293,292 29,496 41,013 47,873 34,304 445,978 Total consumer PCI loans (carrying value) (2) 555 13 — — — 568 Total consumer loans $ 293,847 29,509 41,013 47,873 34,304 446,546 December 31, 2018 By delinquency status: Current-29 DPD $ 263,881 33,644 38,008 43,604 35,794 414,931 30-59 DPD 1,411 247 292 1,040 140 3,130 60-89 DPD 549 126 212 314 87 1,288 90-119 DPD 257 74 192 109 80 712 120-179 DPD 225 77 320 2 27 651 180+ DPD 822 213 1 — 20 1,056 Government insured/guaranteed loans (1) 12,688 — — — — 12,688 Loans held at fair value 244 — — — — 244 Total consumer loans (excluding PCI) 280,077 34,381 39,025 45,069 36,148 434,700 Total consumer PCI loans (carrying value) (2) 4,988 17 — — — 5,005 Total consumer loans $ 285,065 34,398 39,025 45,069 36,148 439,705 (1) Represents loans whose repayments are predominantly insured by the Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA). Loans insured/guaranteed by the FHA/VA and 90+ DPD totaled $6.4 billion at December 31, 2019 , compared with $7.7 billion at December 31, 2018 . (2) 26% of the adjusted unpaid principal balance for consumer PCI loans are 30+ DPD at December 31, 2019 , compared with 18% at December 31, 2018 . Of the $1.9 billion of consumer loans not government insured/guaranteed that are 90 days or more past due at December 31, 2019 , $855 million was accruing, compared with $2.4 billion past due and $885 million accruing at December 31, 2018 . Table 6.11 provides a breakdown of our consumer portfolio by FICO. Substantially all 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 $9.1 billion at December 31, 2019 , and $8.9 billion at December 31, 2018 . Table 6.11: Consumer Loans by FICO (in millions) Real estate 1-4 family first mortgage Real estate 1-4 family junior lien mortgage Credit card Automobile Other revolving credit and installment Total December 31, 2019 By FICO: < 600 $ 3,264 1,164 3,373 6,041 704 14,546 600-639 2,392 782 2,853 4,230 670 10,927 640-679 5,068 1,499 6,626 6,324 1,730 21,247 680-719 12,844 3,192 9,732 7,871 3,212 36,851 720-759 27,879 4,407 8,376 7,839 4,097 52,598 760-799 61,559 5,483 5,648 7,624 4,915 85,229 800+ 165,460 11,851 4,037 7,900 7,585 196,833 No FICO available 3,656 1,118 368 44 2,316 7,502 FICO not required — — — — 9,075 9,075 Government insured/guaranteed loans (1) 11,170 — — — — 11,170 Total consumer loans (excluding PCI) 293,292 29,496 41,013 47,873 34,304 445,978 Total consumer PCI loans (carrying value) (2) 555 13 — — — 568 Total consumer loans $ 293,847 29,509 41,013 47,873 34,304 446,546 December 31, 2018 By FICO: < 600 $ 4,273 1,454 3,292 7,071 697 16,787 600-639 2,974 994 2,777 4,431 725 11,901 640-679 5,810 1,898 6,464 6,225 1,822 22,219 680-719 13,568 3,908 9,445 7,354 3,384 37,659 720-759 27,258 5,323 7,949 6,853 4,395 51,778 760-799 57,193 6,315 5,227 5,947 5,322 80,004 800+ 151,465 13,190 3,794 7,099 8,411 183,959 No FICO available 4,604 1,299 77 89 2,507 8,576 FICO not required — — — — 8,885 8,885 Government insured/guaranteed loans (1) 12,932 — — — — 12,932 Total consumer loans (excluding PCI) 280,077 34,381 39,025 45,069 36,148 434,700 Total consumer PCI loans (carrying value) (2) 4,988 17 — — — 5,005 Total consumer loans $ 285,065 34,398 39,025 45,069 36,148 439,705 (1) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. (2) 41% of the adjusted unpaid principal balance for consumer PCI loans have FICO scores less than 680 and 19% where no FICO is available to us at December 31, 2019 , compared with 45% and 15% , respectively, at December 31, 2018 . 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 6.12 shows the most updated LTV and CLTV distribution of the real estate 1-4 family mortgage loan portfolios. We consider the trends in residential real estate markets as we monitor credit risk and establish our ACL. 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 6.12: Consumer Loans by LTV/CLTV December 31, 2019 December 31, 2018 (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% $ 151,478 14,603 166,081 147,666 15,753 163,419 60.01-80% 114,795 9,663 124,458 104,477 11,183 115,660 80.01-100% 13,867 3,574 17,441 12,372 4,874 17,246 100.01-120% (1) 860 978 1,838 1,211 1,596 2,807 > 120% (1) 338 336 674 484 578 1,062 No LTV/CLTV available 784 342 1,126 935 397 1,332 Government insured/guaranteed loans (2) 11,170 — 11,170 12,932 — 12,932 Total consumer loans (excluding PCI) 293,292 29,496 322,788 280,077 34,381 314,458 Total consumer PCI loans (carrying value) (3) 555 13 568 4,988 17 5,005 Total consumer loans $ 293,847 29,509 323,356 285,065 34,398 319,463 (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. (3) 9% of the adjusted unpaid principal balance for consumer PCI loans have LTV/CLTV amounts greater than 80% at December 31, 2019 , compared with 10% at December 31, 2018 . NONACCRUAL LOANS Table 6.13 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 6.13: Nonaccrual Loans Dec 31, Dec 31, (in millions) 2019 2018 Commercial: Commercial and industrial $ 1,545 1,486 Real estate mortgage 573 580 Real estate construction 41 32 Lease financing 95 90 Total commercial 2,254 2,188 Consumer: Real estate 1-4 family first mortgage 2,150 3,183 Real estate 1-4 family junior lien mortgage 796 945 Automobile 106 130 Other revolving credit and installment 40 50 Total consumer 3,092 4,308 Total nonaccrual loans (excluding PCI) $ 5,346 6,496 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 $3.5 billion and $4.6 billion at December 31, 2019 and 2018 , respectively, which included $2.8 billion and $3.2 billion , respectively, of loans that are government insured/guaranteed. Under the Consumer Financial Protection Bureau guidelines, we do not commence the foreclosure process on real estate 1-4 family mortgage loans until after the loan is 120 days delinquent. 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 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 $102 million at December 31, 2019 , and $370 million at December 31, 2018 , are not included in these past due and still accruing loans even when they are 90 days or more contractually past due. 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 6.14 shows non-PCI loans 90 days or more past due and still accruing by class for loans not government insured/guaranteed. Table 6.14: Loans 90 Days or More Past Due and Still Accruing Dec 31, Dec 31, (in millions) 2019 2018 Total (excluding PCI): $ 7,285 8,704 Less: FHA insured/VA guaranteed (1) 6,352 7,725 Total, not government insured/guaranteed $ 933 979 By segment and class, not government insured/guaranteed: Commercial: Commercial and industrial $ 47 43 Real estate mortgage 31 51 Total commercial 78 94 Consumer: Real estate 1-4 family first mortgage 112 124 Real estate 1-4 family junior lien mortgage 32 32 Credit card 546 513 Automobile 78 114 Other revolving credit and installment 87 102 Total consumer 855 885 Total, not government insured/guaranteed $ 933 979 (1) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. IMPAIRED LOANS Table 6.15 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. Impaired loans generally have estimated losses which are included in the ACL. We do have impaired loans with no ACL when the loss content has been previously recognized through charge-offs, such as collateral dependent loans, or when loans are currently performing in accordance with their terms and no loss has been estimated. Impaired loans exclude PCI loans and loans that have been fully charged off or otherwise have zero recorded investment. Table 6.15 includes trial modifications that totaled $115 million at December 31, 2019 , and $149 million at December 31, 2018 . For additional information on our impaired loans and ACL, see Note 1 (Summary of Significant Accounting Policies). Table 6.15: Impaired Loans Summary Recorded investment (in millions) Unpaid principal balance Impaired loans Impaired loans with related allowance for credit losses Related allowance for credit losses December 31, 2019 Commercial: Commercial and industrial $ 2,792 2,003 1,903 311 Real estate mortgage 1,137 974 803 110 Real estate construction 81 51 41 11 Lease financing 131 105 105 35 Total commercial 4,141 3,133 2,852 467 Consumer: Real estate 1-4 family first mortgage (1) 8,107 7,674 4,433 437 Real estate 1-4 family junior lien mortgage 1,586 1,451 925 144 Credit card 520 520 520 209 Automobile 138 81 42 8 Other revolving credit and installment 178 171 155 49 Total consumer (2) 10,529 9,897 6,075 847 Total impaired loans (excluding PCI) $ 14,670 13,030 8,927 1,314 December 31, 2018 Commercial: Commercial and industrial $ 3,057 2,030 1,730 319 Real estate mortgage 1,228 1,032 1,009 154 Real estate construction 74 47 46 9 Lease financing 146 112 112 32 Total commercial 4,505 3,221 2,897 514 Consumer: Real estate 1-4 family first mortgage 12,309 10,738 4,420 525 Real estate 1-4 family junior lien mortgage 1,886 1,694 1,133 183 Credit card 449 449 449 172 Automobile 153 89 43 8 Other revolving credit and installment 162 156 136 41 Total consumer (2) 14,959 13,126 6,181 929 Total impaired loans (excluding PCI) $ 19,464 16,347 9,078 1,443 (1) Impaired loans includes reduction of $1.7 billion reclassified to MLHFS during 2019. (2) Includes the recorded investment of $1.2 billion and $1.3 billion at December 31, 2019 and 2018 , respectively, of government insured/guaranteed loans that are predominantly insured by the FHA or guaranteed by the VA and generally do not have an ACL. Impaired loans may also have limited, if any, ACL 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 $500 million and $513 million at December 31, 2019 and 2018 , respectively. Table 6.16 provides the average recorded investment in impaired loans and the amount of interest income recognized on impaired loan |
Leasing Activity
Leasing Activity | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Leases as Lessor and Lessee Disclosure [Text Block] | Note 7: Leasing Activity The information below provides a summary of our leasing activities as a lessor and lessee. As a Lessor Table 7.1 presents the composition of our leasing revenue and Table 7.2 provides the components of our investment in lease financing. Table 7.1: Leasing Revenue (in millions) Year ended December 31, 2019 Interest income on lease financing $ 869 Other lease revenues: Variable revenues on lease financing 96 Fixed revenues on operating leases 1,393 Variable revenues on operating leases 66 Other lease-related revenues (1) 57 Lease income 1,612 Total leasing revenue $ 2,481 (1) Predominantly includes net gains on disposition of assets leased under operating leases or lease financings. Table 7.2: Investment in Lease Financing (in millions) Dec 31, 2019 Lease receivables $ 18,114 Residual asset values 4,208 Unearned income (2,491 ) Lease financing $ 19,831 Our net investment in financing and sales-type leases includes $1.9 billion of leveraged leases at December 31, 2019 . As shown in Table 9.2 , included in Note 9 (Premises, Equipment and Other Assets), we had $8.2 billion in operating lease assets at December 31, 2019 , which was net of $3.1 billion of accumulated depreciation. Depreciation expense for the operating lease assets was $848 million in 2019. Table 7.3 presents future lease payments owed by our lessees. Table 7.3: Maturities of Lease Receivables December 31, 2019 (in millions) Direct financing and sales- type leases Operating leases 2020 $ 5,953 883 2021 4,997 614 2022 2,951 434 2023 1,634 298 2024 862 199 Thereafter 1,717 447 Total lease receivables $ 18,114 2,875 As a Lessee Substantially all of our leases are operating leases. Table 7.4 presents balances for our operating leases. Table 7.4: Operating Lease Right of Use (ROU) Assets and Lease Liabilities (in millions) Dec 31, 2019 ROU assets $ 4,724 Lease liabilities 5,297 Table 7.5 provides the composition of our lease costs, which are predominantly included in net occupancy expense. Table 7.5: Lease Costs (in millions) Year ended December 31, 2019 Fixed lease expense - operating leases $ 1,212 Variable lease expense 314 Other (1) (68 ) Total lease costs $ 1,458 (1) Predominantly includes gains recognized from sale leaseback transactions and sublease rental income. Net operating lease rental expense was $1.3 billion for the years 2018 and 2017 and is predominantly included in net occupancy expense. Tables Table 7.6 and 7.7 provide the future lease payments under operating leases as of December 31, 2018, and December 31, 2019 , respectively. Table 7.7 also includes information on the remaining average lease term and discount rate. Table 7.6: Lease Payments on Operating Leases Prior to Adoption of ASU 2016-02 – Leases (in millions) December 31, 2018 2019 $ 1,174 2020 1,056 2021 880 2022 713 2023 577 Thereafter 1,654 Total lease payments $ 6,054 Table 7.7: Lease Payments on Operating Leases Subsequent to Adoption of ASU 2016-02 – Leases (in millions, except for weighted averages) December 31, 2019 2020 $ 1,006 2021 1,045 2022 897 2023 750 2024 597 Thereafter 1,672 Total lease payments 5,967 Less: imputed interest 670 Total operating lease liabilities $ 5,297 Weighted average remaining lease term (in years) 7.1 Weighted average discount rate 3.1 % Our operating leases predominantly expire within the next 15 years , with the longest lease expiring in 2105 . We do not include renewal or termination options in the establishment of the lease term when we are not reasonably certain that we will exercise them. As of December 31, 2019 , we had additional operating leases commitments of $159 million , predominantly for real estate, which leases had not yet commenced. These leases are expected to commence during 2020 and have lease terms of 2 years to 17 years . |
Equity Securities
Equity Securities | 12 Months Ended |
Dec. 31, 2019 | |
Equity Securities [Abstract] | |
Equity Securities | Note 8: Equity Securities Table 8.1 provides a summary of our equity securities by business purpose and accounting method, including equity securities with readily determinable fair values (marketable) and those without readily determinable fair values (nonmarketable). Table 8.1: Equity Securities (in millions) Dec 31, Dec 31, Held for trading at fair value: Marketable equity securities $ 27,440 19,449 Not held for trading: Fair value: Marketable equity securities (1) 6,481 4,513 Nonmarketable equity securities 8,015 5,594 Total equity securities at fair value 14,496 10,107 Equity method: Low-income housing tax credit investments 11,343 10,999 Private equity 3,459 3,832 Tax-advantaged renewable energy 3,811 3,073 New market tax credit and other 387 311 Total equity method 19,000 18,215 Other: Federal Reserve Bank stock and other at cost (2) 4,790 5,643 Private equity (3) 2,515 1,734 Total equity securities not held for trading 40,801 35,699 Total equity securities $ 68,241 55,148 (1) Includes $3.8 billion and $3.2 billion at December 31, 2019 and 2018 , respectively, related to securities held as economic hedges of our deferred compensation plan obligations. (2) Includes $4.8 billion and $5.6 billion at December 31, 2019 and 2018 , respectively, related to investments in Federal Reserve Bank and Federal Home Loan Bank stock. (3) Represents nonmarketable equity securities accounted for under the measurement alternative. Equity Securities Held for Trading Equity securities held for trading purposes are marketable equity securities traded on organized exchanges. These securities are held as part of our customer accommodation trading activities. For more information on these activities, see Note 4 (Trading Activities). Equity Securities Not Held for Trading We also hold equity securities unrelated to trading activities. These securities include private equity and tax credit investments, securities held as economic hedges or to meet regulatory requirements (for example, Federal Reserve Bank and Federal Home Loan Bank stock). FAIR VALUE Marketable equity securities held for purposes other than trading primarily consist of exchange-traded equity funds held to economically hedge obligations related to our deferred compensation plans and, to a lesser extent, other holdings of publicly traded equity securities held for investment purposes. We account for certain nonmarketable equity securities under the fair value method, and substantially all of these securities are economically hedged with equity derivatives. EQUITY METHOD Our equity method investments consist of tax credit and private equity investments, the majority of which are our low-income housing tax credit (LIHTC) investments. We invest in affordable housing projects that qualify for the LIHTC, which are designed to promote private development of low-income housing. These investments generate a return mostly through realization of federal tax credit and other tax benefits. We recognized pre-tax losses of $1.3 billion for 2019 and $1.2 billion for both 2018 and 2017 , related to our LIHTC investments. These losses were recognized in other noninterest income. We also recognized total tax benefits of $1.5 billion for 2019 , 2018 and 2017 , which included tax credits recorded to income taxes of $1.2 billion for 2019 and 2018 , and $1.1 billion for 2017 . We are periodically required to provide additional financial support during the investment period. A liability is recognized for unfunded commitments that are both legally binding and probable of funding. These commitments are predominantly funded within three years of initial investment. Our liability for unfunded commitments was $4.3 billion and $3.9 billion at December 31, 2019 and 2018 , respectively. This liability for unfunded commitments is included in long-term debt. OTHER The remaining portion of our nonmarketable equity securities portfolio consists of securities accounted for using the cost or measurement alternative method. Realized Gains and Losses Not Held for Trading Table 8.2 provides a summary of the net gains and losses for equity securities not held for trading. Gains and losses for securities held for trading are reported in net gains from trading activities. Table 8.2: Net Gains (Losses) from Equity Securities Not Held for Trading Year ended December 31, (in millions) 2019 2018 2017 Net gains (losses) from equity securities carried at fair value: Marketable equity securities $ 1,067 (389 ) 967 Nonmarketable equity securities 2,413 709 1,557 Total equity securities carried at fair value 3,480 320 2,524 Net gains (losses) from nonmarketable equity securities not carried at fair value: Impairment write-downs (245 ) (352 ) (339 ) Net unrealized gains related to measurement alternative observable transactions 567 418 — Net realized gains on sale 1,161 1,504 980 All other — 33 97 Total nonmarketable equity securities not carried at fair value 1,483 1,603 738 Net losses from economic hedge derivatives (1) (2,120 ) (408 ) (1,483 ) Total net gains from equity securities not held for trading $ 2,843 1,515 1,779 (1) Includes net gains (losses) on derivatives not designated as hedging instruments. Measurement Alternative Table 8.3 provides additional information about the impairment write-downs and observable price adjustments related to nonmarketable equity securities accounted for under the measurement alternative. Gains and losses related to these adjustments are also included in Table 8.2 . Table 8.3: Net Gains (Losses) from Measurement Alternative Equity Securities Year ended December 31, (in millions) 2019 2018 Net gains (losses) recognized in earnings during the period: Gross unrealized gains due to observable price changes $ 584 443 Gross unrealized losses due to observable price changes (17 ) (25 ) Impairment write-downs (116 ) (33 ) Realized net gains from sale 163 274 Total net gains recognized during the period $ 614 659 Table 8.4 presents cumulative carrying value adjustments to nonmarketable equity securities accounted for under the measurement alternative that were still held as of December 31, 2019 and 2018 . Table 8.4: Measurement Alternative Cumulative Gains (Losses) Year ended December 31, (in millions) 2019 2018 Cumulative gains (losses): Gross unrealized gains due to observable price changes $ 973 415 Gross unrealized losses due to observable price changes (42 ) (25 ) Impairment write-downs (134 ) (33 ) |
Premises, Equipment and Other A
Premises, Equipment and Other Assets | 12 Months Ended |
Dec. 31, 2019 | |
Premises, Equipment And Other Assets [Abstract] | |
Premises, Equipment and Other Assets | Note 9: Premises, Equipment and Other Assets Table 9.1: Premises and Equipment (in millions) Dec 31, 2019 Dec 31, 2018 Land $ 1,857 1,757 Buildings 9,499 8,974 Furniture and equipment 7,189 6,896 Leasehold improvements 2,597 2,387 Finance lease ROU assets 33 75 Total premises and equipment 21,175 20,089 Less: Accumulated depreciation and amortization 11,866 11,169 Net book value, premises and equipment $ 9,309 8,920 Depreciation and amortization expense for premises and equipment was $1.4 billion , $1.3 billion and $1.2 billion in 2019 , 2018 and 2017 , respectively. Dispositions of premises and equipment resulted in net gains of $82 million , $32 million and $128 million in 2019 , 2018 and 2017 , respectively, included in other noninterest expense. Table 9.2 presents the components of other assets. Table 9.2: Other Assets (in millions) Dec 31, 2019 Dec 31, 2018 Corporate/bank-owned life insurance $ 20,070 19,751 Accounts receivable (1) 29,137 34,281 Interest receivable 5,586 6,084 Customer relationship and other amortized intangibles 423 545 Foreclosed assets: Residential real estate: Government insured/guaranteed (1) 50 88 Non-government insured/guaranteed 172 229 Other 81 134 Operating lease assets (lessor) 8,221 9,036 Operating lease ROU assets (lessee) (2) 4,724 — Due from customers on acceptances 253 258 Other 10,200 9,444 Total other assets $ 78,917 79,850 (1) Certain government-guaranteed residential real estate mortgage loans upon foreclosure are included in Accounts receivable. For more information, see Note 1 (Summary of Significant Accounting Policies). (2) We recognized operating lease right of use (ROU) assets effective January 1, 2019, in connection with the adoption of ASU 2016-02 – Leases. For more information, see Note 1 (Summary of Significant Accounting Policies). |
Securitizations and Variable In
Securitizations and Variable Interest Entities | 12 Months Ended |
Dec. 31, 2019 | |
Securitizations and Variable Interest Entities [Abstract] | |
Securitizations and Variable Interest Entities | Note 10: Securitizations and Variable Interest Entities Involvement with Special Purpose Entities (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. SPEs are often formed in connection with securitization transactions in which assets are transferred to an SPE. The SPE may alter the risk profile of the asset by entering into derivative transactions or obtaining credit support, and issues various forms of interests in those assets to investors. In a securitization transaction where we transferred assets from our balance sheet, we typically receive cash and sometimes other interests in an SPE as proceeds for the assets we transfer. In certain transactions we may retain the right to service the transferred receivables and to repurchase those receivables from the SPE if the outstanding balance of the receivables falls to a level where the cost exceeds the benefits of servicing such receivables. In addition, we may purchase the right to service loans in an SPE that were transferred to the SPE by a third party. In connection with our securitization activities, we have various forms of ongoing involvement with SPEs, which may include: • underwriting securities issued by SPEs and subsequently making markets in those securities; • providing liquidity facilities to support short-term obligations of SPEs issued to third-party investors; • providing credit enhancement on securities issued by SPEs or market value guarantees of assets held by SPEs through the use of letters of credit, financial guarantees, credit default swaps and total return swaps; • entering into other derivative contracts with SPEs; • holding senior or subordinated interests in SPEs; • acting as servicer or investment manager for SPEs; and • providing administrative or trustee services to SPEs. SPEs formed in connection with securitization transactions are generally considered variable interest entities (VIEs). SPEs formed for other corporate purposes may be VIEs as well. A VIE is an entity whose total equity is insufficient to finance its activities without additional subordinated financial support, or whose equity investors lack the ability to control the entity’s activities or lack the ability to receive expected benefits or absorb obligations in a manner consistent with their investment in the entity. A VIE is consolidated by its primary beneficiary which is the party that has both the power to direct the activities that most significantly impact the VIE and a variable interest that could potentially be significant to the VIE. A variable interest is a contractual, ownership or other interest whose value changes with changes in the fair value of the VIE’s net assets. To determine whether or not a variable interest we hold could potentially be significant to the VIE, we consider both qualitative and quantitative factors regarding the nature, size and form of our involvement with the VIE. We assess whether or not we are the primary beneficiary of a VIE on an on-going basis. Secured borrowings are transactions involving transfers of our financial assets to unconsolidated third parties that are accounted for as financings with the assets pledged as collateral. Accordingly, the transferred assets remain recognized on our balance sheet. See also Repurchase and Securities Lending Agreements in Note 16 (Guarantees, Pledged Assets and Collateral, and Other Commitments) for additional transactions accounted for as secured borrowings. Table 10.1 provides the classifications of assets and liabilities in our balance sheet for our transactions with VIEs. Table 10.1: Balance Sheet Transactions with VIEs (in millions) VIEs that we do not consolidate VIEs that we consolidate (2) Transfers that we account for as secured borrowings (2) Total December 31, 2019 Cash and due from banks $ — 16 — 16 Interest-earning deposits with banks — 284 — 284 Debt securities (1): Trading debt securities 792 339 — 1,131 Available-for-sale debt securities 1,696 201 — 1,897 Held-to-maturity debt securities 791 — — 791 Loans 2,127 13,170 80 15,377 Mortgage servicing rights 11,884 — — 11,884 Derivative assets 142 1 — 143 Equity securities 11,401 118 — 11,519 Other assets 1,268 239 — 1,507 Total assets 30,101 14,368 80 44,549 Short-term borrowings — 401 — 401 Derivative liabilities 1 3 — 4 Accrued expenses and other liabilities 189 235 — 424 Long-term debt 4,817 587 79 5,483 Total liabilities 5,007 1,226 79 6,312 Noncontrolling interests — 43 — 43 Net assets $ 25,094 13,099 1 38,194 December 31, 2018 Cash and due from banks $ — 139 — 139 Interest-earning deposits with banks — 8 — 8 Debt securities (1): Trading debt securities 2,110 245 — 2,355 Available-for-sale debt securities 2,686 317 — 3,003 Held-to-maturity debt securities 510 — — 510 Loans 2,657 13,564 94 16,315 Mortgage servicing rights 14,761 — — 14,761 Derivative assets 53 — — 53 Equity securities 11,041 85 — 11,126 Other assets — 227 — 227 Total assets 33,818 14,585 94 48,497 Short-term borrowings — 493 — 493 Derivative liabilities 26 — — 26 Accrued expenses and other liabilities 231 199 — 430 Long-term debt 5,094 816 93 6,003 Total liabilities 5,351 1,508 93 6,952 Noncontrolling interests — 34 — 34 Net assets $ 28,467 13,043 1 41,511 (1) Excludes certain debt securities related to loans serviced for the Federal National Mortgage Association (FNMA), Federal Home Loan Mortgage Corporation (FHLMC) and Government National Mortgage Association (GNMA). (2) Certain structures included in transfers that we account for as secured borrowings at December 31, 2018 were presented in VIEs that we consolidate to conform with the current period presentation. Transactions with Unconsolidated VIEs Our transactions with unconsolidated VIEs include predominantly securitizations of residential and commercial mortgage loans and investments in tax credit structures. We have various forms of involvement with VIEs, including servicing, holding senior or subordinated interests, and entering into liquidity arrangements and derivative contracts. Involvements with these unconsolidated VIEs are recorded on our balance sheet in debt and equity securities, loans, MSRs, derivative assets and liabilities, other assets, other liabilities, and long-term debt, as appropriate. Table 10.2 provides a summary of our exposure to unconsolidated VIEs with which we have significant continuing involvement but for which we are not the primary beneficiary. We include transactions where we were the sponsor or servicer and also have other significant forms of continuing involvement. Sponsorship includes transactions where we solely or materially participated in the initial design or structuring of the VIE or marketed the transaction to investors. We consider investments in securities, loans, guarantees, liquidity agreements, commitments and certain derivatives to be other forms of continuing involvement that may be significant. We also include transactions where we transferred assets to a VIE, account for the transfer as a sale, and service the VIE collateral or have other forms of continuing involvement that may be significant (as described above). We exclude certain transactions with unconsolidated VIEs when our continuing involvement is temporary in nature or insignificant in size. We also exclude 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 10.2: Unconsolidated VIEs Carrying value – asset (liability) (in millions) Total VIE assets Debt and equity interests (1) Servicing assets and advances Derivatives Debt, guarantees and other commitments Net assets December 31, 2019 Residential mortgage loan securitizations: Conforming (2) $ 1,098,103 1,528 11,931 — (683 ) 12,776 Other/nonconforming 5,178 6 152 — — 158 Commercial mortgage loan securitizations 169,736 2,239 1,069 80 (43 ) 3,345 Tax credit structures 39,091 12,826 — — (4,260 ) 8,566 Other asset-based finance structures 1,355 157 — 61 (20 ) 198 Other 1,167 51 — — — 51 Total $ 1,314,630 16,807 13,152 141 (5,006 ) 25,094 Maximum exposure to loss Debt and equity interests (1) Servicing assets and advances Derivatives Guarantees and other commitments Total exposure Residential mortgage loan securitizations: Conforming (2) $ 972 11,931 — 937 13,840 Other/nonconforming 6 152 — — 158 Commercial mortgage loan securitizations 2,239 1,069 80 11,667 15,055 Tax credit structures 12,826 — — 1,701 14,527 Other asset-based finance structures 157 — 63 91 311 Other 51 — — 157 208 Total $ 16,251 13,152 143 14,553 44,099 (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 Debt, guarantees and other commitments Net assets December 31, 2018 Residential mortgage loan securitizations: Conforming (2) $ 1,172,833 3,601 13,811 — (1,395 ) 16,017 Other/nonconforming 10,596 453 57 — — 510 Commercial mortgage loan securitizations 153,350 2,409 893 (22 ) (40 ) 3,240 Tax credit structures 35,185 12,087 — — (3,870 ) 8,217 Other asset-based finance structures 1,520 271 — 49 (20 ) 300 Other 1,318 183 — — — 183 Total $ 1,374,802 19,004 14,761 27 (5,325 ) 28,467 Maximum exposure to loss Debt and equity interests (1) Servicing assets Derivatives Guarantees and other commitments Total exposure Residential mortgage loan securitizations: Conforming (2) $ 2,377 13,811 — 1,183 17,371 Other/nonconforming 453 57 — — 510 Commercial mortgage loan securitizations 2,409 893 28 11,563 14,893 Tax credit structures 12,087 — — 1,420 13,507 Other asset-based finance structures 271 — 50 91 412 Other 183 — — 158 341 Total $ 17,780 14,761 78 14,415 47,034 (1) Includes total equity interests of $11.4 billion and $11.0 billion at December 31, 2019 and 2018 , 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) Carrying values include assets and related liabilities of $556 million and $1.2 billion at December 31, 2019 and 2018 , respectively, related to certain unexercised unconditional repurchase options. These amounts represent the carrying value of the loans and associated debt that would be payable if the option was exercised to repurchase eligible loans from GNMA loan securitizations. These amounts are excluded from maximum exposure to loss as we are not obligated to exercise the options. In Table 10.2 , “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” is determined as the carrying value of our investment in the VIEs excluding the unconditional repurchase options that have not been exercised, 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 disclosure is not an indication of expected loss. RESIDENTIAL MORTGAGE LOAN SECURITIZATIONS Residential mortgage loan securitizations are financed through the issuance of fixed-rate or floating-rate asset-backed securities, which are collateralized by the loans transferred to a VIE. We typically transfer loans we originated to these VIEs, account for the transfers as sales, retain the right to service the loans and may hold other beneficial interests issued by the VIEs. In certain instances, we may service residential mortgage loan securitizations structured by third parties whose loans we did not originate or transfer. Our residential mortgage loan securitizations include conforming and nonconforming securitizations. Conforming residential mortgage loan securitizations are those that are guaranteed by the government-sponsored entities (GSEs), such as FNMA and FHLMC, and GNMA. We do not consolidate these securitizations because the GSEs or GNMA hold the power over the VIEs. The loans sold to the VIEs in nonconforming residential mortgage loan securitizations are those that do not qualify for a GSE guarantee and are not GNMA guaranteed mortgage securitizations of FHA-insured or VA-guaranteed mortgages. We may hold variable interests issued by the VIEs, including senior securities. The nonconforming residential mortgage loan securitizations included in the table are not consolidated because we do not hold any variable interests, or hold variable interests that we do not consider potentially significant, or we are not the primary servicer for a majority of the VIE assets. Guarantees and other commitments include amounts related to loans sold that we may be required to repurchase, or otherwise indemnify or reimburse the investor or insurer for losses incurred, due to material breach of contractual representations and warranties as well as other retained recourse arrangements. The maximum exposure to loss for material breach of contractual representations and warranties represents a stressed case estimate we utilize for determining stressed case regulatory capital needs and is considered to be a remote scenario. COMMERCIAL MORTGAGE LOAN SECURITIZATIONS Commercial mortgage loan securitizations are financed through the issuance of fixed or floating-rate asset-backed securities, which are collateralized by the loans transferred to the VIE. In a typical securitization, we may transfer loans we originate to these VIEs, account for the transfers as sales, retain the right to service the loans and may hold other beneficial interests issued by the VIEs. In certain instances, we may service commercial mortgage loan securitizations structured by third parties whose loans we did not originate or transfer. We typically serve as primary or master servicer of these VIEs. In commercial mortgage loan securitizations, the most significant decisions impacting the performance of the VIE are generally made by the special servicer and the primary and master servicer do not have power over the VIE. We do not consolidate the commercial mortgage loan securitizations included in the disclosure because we do not have power over the majority of the SPE’s assets or we do not have a variable interest that could potentially be significant to the VIE. TAX CREDIT STRUCTURES We co-sponsor and make investments in affordable housing and sustainable energy projects that are designed to generate a return primarily through the realization of federal tax credits. The projects are typically managed by project sponsors who have the power over the VIE’s assets. In some instances, our investments in these structures may require that we fund future capital commitments at the discretion of the project sponsors. While the size of our investment in a single entity may at times exceed 50% of the outstanding equity interests, we do not consolidate these structures because we are not the project sponsors. OTHER ASSET-BASED FINANCE STRUCTURES We engage in various forms of structured finance arrangements with other VIEs, including collateralized loan obligations (CLOs), collateralized debt obligations, and other securitizations collateralized by asset classes other than mortgages. Collateral may include asset- backed securities, automobile and other transportation loans and leases, student loans and general corporate credit. Generally, a third party sponsors the VIE and also selects and manages the assets. We may participate in structuring or marketing the arrangements, provide financing to the VIE, service one or more of the underlying VIE assets, or enter into derivatives with the VIEs and receive fees for those services. We are not the primary beneficiary of these structures because we neither select nor manage the assets of the VIE. Loan Sales and Securitization Activity We periodically transfer consumer and commercial 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. 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 10.3 presents information about transfers during the period of assets to unconsolidated VIEs or third-party investors for which we recorded the transfers as sales and have continuing involvement with the transferred assets. In connection with these transfers, we recorded servicing assets, securities, and a liability for repurchase losses which reflects management’s estimate of probable losses related to various representations and warranties for the loans transferred. Each of these interests are initially measured at fair value. Servicing rights are classified as Level 3 measurements, and securities are initially predominantly classified as Level 2. Sales with continuing involvement include securitizations of conforming residential mortgages that are sold to the GSEs or GNMA. Substantially all transfers to these entities resulted in no gain or loss because the loans were already measured at fair value on a recurring basis. Table 10.3: Transfers With Continuing Involvement Year ended December 31, 2019 2018 2017 (in millions) Residential mortgages Commercial mortgages Residential mortgages Commercial mortgages Residential mortgages Commercial mortgages Net gains (losses) on sale $ 89 330 (10 ) 280 342 359 Asset balances sold 170,384 18,191 177,805 17,882 213,562 16,696 Servicing rights recognized 1,896 161 1,903 158 2,122 166 Securities recognized 2,747 51 5,030 81 1,414 65 Liability for repurchase losses recognized 18 — 17 — 24 — Table 10.4 presents the key weighted-average assumptions we used to measure residential MSRs at the date of securitization. Table 10.4: Residential Mortgage Servicing Rights Residential mortgage servicing rights Year ended December 31, 2019 2018 2017 Prepayment speed (1) 12.8 % 10.6 11.5 Discount rate 7.5 7.4 7.0 Cost to service ($ per loan) (2) $ 101 128 132 (1) The prepayment speed assumption for residential MSRs 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 due to changes in model assumptions and the mix of modified government-guaranteed loans sold to GNMA. Table 10.5 presents the proceeds related to transfers accounted for as sales in which we have continuing involvement with the transferred financial assets as well as current period cash flows from continuing involvement with previous transfers accounted for as sales. Cash flows from other interests held predominantly include principal and interest payments received on retained bonds and excess cash flows received on interest-only strips. Repurchases of assets represents cash paid to repurchase loans from investors under representation and warranty obligations or in connection with the exercise of cleanup calls on securitizations. Loss reimbursements is cash paid to reimburse investors for losses on individual loans that are already liquidated. Government insured loans are delinquent loans that we service and have exercised our option to purchase out of GNMA pools. These loans are insured by the FHA or guaranteed by the VA. Table 10.5: Cash Inflows (Outflows) From Sales and Securitization Activity Mortgage loans Year ended December 31, (in millions) 2019 2018 2017 Proceeds from securitizations and whole loan sales $ 186,615 193,721 228,282 Fees from servicing rights retained 3,149 3,337 3,352 Cash flows from other interests held 468 698 2,218 Repurchases of assets/loss reimbursements: Non-agency securitizations and whole loan transactions (4,441 ) (3 ) (12 ) Government insured loans (6,168 ) (7,775 ) (8,600 ) Agency securitizations (95 ) (96 ) (92 ) Servicing advances, net of recoveries (1) 187 154 269 (1) Cash flows from servicing advances includes principal and interest payments to investors required by servicing agreements. Retained Interests from Unconsolidated VIEs Table 10.6 provides key economic assumptions and the sensitivity of the current fair value of residential MSRs, and other interests held related to unconsolidated VIEs, to immediate adverse changes in those assumptions. Amounts for residential MSRs include purchased servicing rights as well as servicing rights resulting from the transfer of loans. See Note 19 (Fair Values of Assets and Liabilities) for additional information on key economic assumptions for residential MSRs. “Other interests held” were obtained when we securitized residential and commercial mortgage loans. Residential mortgage-backed securities retained in securitizations issued through GSEs or GNMA are excluded from the table because these securities have a remote risk of credit loss due to the GSE or government guarantee. These securities also have economic characteristics similar to GSE or GNMA 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 10.6: Retained Interests from Unconsolidated VIEs Other interests held Residential mortgage servicing rights Interest-only strips Commercial ($ in millions, except cost to service amounts) Subordinated bonds Senior bonds Fair value of interests held at December 31, 2019 $ 11,517 2 909 352 Expected weighted-average life (in years) 5.3 3.1 7.3 5.5 Key economic assumptions: Prepayment speed assumption 11.9 % 19.5 Decrease in fair value from: 10% adverse change $ 537 — 25% adverse change 1,261 — Discount rate assumption 7.2 % 12.8 4.0 2.9 Decrease in fair value from: 100 basis point increase $ 464 — 53 16 200 basis point increase 889 — 103 32 Cost to service assumption ($ per loan) 102 Decrease in fair value from: 10% adverse change 253 25% adverse change 632 Credit loss assumption 3.1 % — Decrease in fair value from: 10% higher losses $ 1 — 25% higher losses 4 — Fair value of interests held at December 31, 2018 $ 14,649 16 668 309 Expected weighted-average life (in years) 6.5 3.6 7.0 5.7 Key economic assumptions: Prepayment speed assumption 9.9 % 17.7 Decrease in fair value from: 10% adverse change $ 530 1 25% adverse change 1,301 1 Discount rate assumption 8.1 % 14.5 4.3 3.7 Decrease in fair value from: 100 basis point increase $ 615 — 37 14 200 basis point increase 1,176 1 72 28 Cost to service assumption ($ per loan) 106 Decrease in fair value from: 10% adverse change 316 25% adverse change 787 Credit loss assumption 5.1 % — Decrease in fair value from: 10% higher losses $ 2 — 25% higher losses 5 — In addition to residential MSRs included in the previous table, we have a small portfolio of commercial MSRs which are carried at LOCOM with a fair value of $1.9 billion and $2.3 billion at December 31, 2019 and 2018 , respectively. Prepayment assumptions do not significantly impact values of commercial MSRs and commercial mortgage bonds as most commercial loans include contractual restrictions on prepayment. Servicing costs are not a driver of our MSR value as we are typically primary or master servicer; the higher costs of servicing delinquent and foreclosed loans is generally born by the special servicer. 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 December 31, 2019 and 2018 , results in a decrease in fair value of $205 million and $320 million , respectively. See Note 11 (Mortgage Banking Activities) for further information on our commercial MSRs. The sensitivities in the preceding paragraph 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 10.7 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 10.7: Off-Balance Sheet Loans Sold or Securitized Net charge-offs (3) Total loans Delinquent loans and foreclosed assets (1) Year ended December 31, December 31, December 31, (in millions) 2019 2018 2019 2018 2019 2018 Commercial: Real estate mortgage $ 112,507 105,173 776 1,008 179 739 Total commercial 112,507 105,173 776 1,008 179 739 Consumer: Real estate 1-4 family first mortgage 1,008,446 1,097,128 6,664 8,947 229 466 Real estate 1-4 family junior lien mortgage 13 — 2 — — — Total consumer 1,008,459 1,097,128 6,666 8,947 229 466 Total off-balance sheet sold or securitized loans (2) $ 1,120,966 1,202,301 7,442 9,955 408 1,205 (1) Includes $492 million and $675 million of commercial foreclosed assets and $356 million and $582 million of consumer foreclosed assets at December 31, 2019 and 2018 , respectively. (2) At December 31, 2019 and 2018 , the table includes total loans of $1.0 trillion and $1.1 trillion , delinquent loans of $5.2 billion and $6.4 billion , and foreclosed assets of $251 million and $442 million , respectively, for FNMA, FHLMC and GNMA. (3) 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 10.8 presents a summary of financial assets and liabilities for asset transfers accounted for as secured borrowings and involvements with consolidated VIEs. Carrying values of “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 10.8: Transactions with Consolidated VIEs and Secured Borrowings Carrying value (in millions) Total VIE assets Assets Liabilities Noncontrolling interests Net assets December 31, 2019 Secured borrowings: Residential mortgage securitizations $ 81 80 (79 ) — 1 Total secured borrowings 81 80 (79 ) — 1 Consolidated VIEs: Commercial and industrial loans and leases 8,054 8,042 (529 ) (16 ) 7,497 Nonconforming residential mortgage loan securitizations 935 809 (290 ) — 519 Commercial real estate loans 4,836 4,836 — — 4,836 Municipal tender option bond securitizations 401 402 (401 ) — 1 Other 279 279 (6 ) (27 ) 246 Total consolidated VIEs 14,505 14,368 (1,226 ) (43 ) 13,099 Total secured borrowings and consolidated VIEs $ 14,586 14,448 (1,305 ) (43 ) 13,100 December 31, 2018 Secured borrowings: Residential mortgage securitizations $ 95 94 (93 ) — 1 Total secured borrowings 95 94 (93 ) — 1 Consolidated VIEs: Commercial and industrial loans and leases 8,215 8,204 (477 ) (14 ) 7,713 Nonconforming residential mortgage loan securitizations 1,947 1,732 (521 ) — 1,211 Commercial real estate loans 3,957 3,957 — — 3,957 Municipal tender option bond securitizations (1) 627 523 (501 ) — 22 Other 169 169 (9 ) (20 ) 140 Total consolidated VIEs 14,915 14,585 (1,508 ) (34 ) 13,043 Total secured borrowings and consolidated VIEs $ 15,010 14,679 (1,601 ) (34 ) 13,044 (1) Municipal tender option bond securitizations were reported as secured borrowings at December 31, 2018. These structures were reported as consolidated VIEs at December 31, 2019 to conform with our presentation of other transactions where we transfer assets to a consolidated VIE and use secured borrowing accounting. We have raised financing through the securitization of certain financial assets in transactions with VIEs accounted for as secured borrowings. We also consolidate VIEs where we are the primary beneficiary. In certain transactions, we provide contractual support in the form of limited recourse and liquidity to facilitate the remarketing of short-term securities issued to third-party investors. Other than this limited contractual support, the assets of the VIEs are the sole source of repayment of the securities held by third parties. COMMERCIAL AND INDUSTRIAL LOANS AND LEASES We securitize dealer floor plan loans and leases in a revolving master trust entity and retain the subordinated notes and residual equity interests. At December 31, 2019 and 2018 , total assets held by the master trust were $6.5 billion and $6.7 billion , respectively, and the outstanding senior notes were $300 million and $299 million , respectively. As servicer and residual interest holder, we control the key decisions of the trust. We also provide the majority of debt and equity financing to an SPE that engages in lending and leasing to specific vendors and service the underlying collateral. We control the key decisions of the entity and consolidate the entity as primary beneficiary. NONCONFORMING RESIDENTIAL MORTGAGE LOAN SECURITIZATIONS We have determined we are the primary beneficiary of these securitizations because we have the power to direct the most significant activities of the entity through our role as primary servicer and we also hold variable interests that we have determined to be significant. The nature of our variable interests in these entities may include senior or subordinated beneficial interests issued by the VIE, MSRs and recourse or repurchase reserve liabilities. COMMERCIAL REAL ESTATE LOANS We purchase local industrial development bonds and credit enhancement from GSEs, which bonds and credit enhancement are placed with a custodian who issues beneficial interests. We own all of the beneficial interests and may also service the underlying mortgages. Through our ownership of the beneficial interests we control the key decisions of the trust including the decision to invest in or divest of a bond and whether to purchase or retain credit support. MUNICIPAL TENDER OPTION BOND SECURITIZATIONS As part of our normal investment por |
Mortgage Banking Activities
Mortgage Banking Activities | 12 Months Ended |
Dec. 31, 2019 | |
Mortgage Banking Activities [Abstract] | |
Mortgage Banking Activities | Note 11: 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 11.1 presents the changes in MSRs measured using the fair value method. Table 11.1: Analysis of Changes in Fair Value MSRs Year ended December 31, (in millions) 2019 2018 2017 Fair value, beginning of year $ 14,649 13,625 12,959 Purchases — — 541 Servicing from securitizations or asset transfers (1) 1,933 2,010 2,263 Sales and other (2) (286 ) (71 ) (23 ) Net additions 1,647 1,939 2,781 Changes in fair value: Due to changes in valuation model inputs or assumptions: Mortgage interest rates (3) (2,406 ) 1,337 (103 ) Servicing and foreclosure costs (4) 48 818 96 Discount rates (5) 145 (830 ) 13 Prepayment estimates and other (6) (356 ) (365 ) (132 ) Net changes in valuation model inputs or assumptions (2,569 ) 960 (126 ) Changes due to collection/realization of expected cash flows over time (7) (2,210 ) (1,875 ) (1,989 ) Total changes in fair value (4,779 ) (915 ) (2,115 ) Fair value, end of year $ 11,517 14,649 13,625 (1) Includes impacts associated with exercising cleanup calls on securitizations as well as our right to repurchase delinquent loans from Government National Mortgage Association (GNMA) loan securitization pools. Total reported MSRs may increase upon repurchase due to servicing liabilities associated with these delinquent GNMA loans. (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 or portfolios with servicing liabilities. (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) Reflects discount rate assumption change, excluding portion attributable to changes in mortgage interest rates. (6) 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. (7) Represents the reduction in the MSR fair value for the cash flows expected to be collected during the period, net of income accreted due to the passage of time Table 11.2 presents the changes in amortized MSRs. Table 11.2: Analysis of Changes in Amortized MSRs Year ended December 31, (in millions) 2019 2018 2017 Balance, beginning of year $ 1,443 1,424 1,406 Purchases 100 127 115 Servicing from securitizations or asset transfers 161 158 166 Amortization (274 ) (266 ) (263 ) Balance, end of year (1) $ 1,430 1,443 1,424 Fair value of amortized MSRs: Beginning of year $ 2,288 2,025 1,956 End of year 1,872 2,288 2,025 (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 11.3 at unpaid principal balance for loans serviced and subserviced for others and at book value for owned loans serviced. Table 11.3: Managed Servicing Portfolio (in billions) Dec 31, 2019 Dec 31, 2018 Residential mortgage servicing: Serviced for others $ 1,063 1,164 Owned loans serviced (1) 343 334 Subserviced for others 2 4 Total residential servicing 1,408 1,502 Commercial mortgage servicing: Serviced for others 566 543 Owned loans serviced 124 121 Subserviced for others 9 9 Total commercial servicing 699 673 Total managed servicing portfolio $ 2,107 2,175 Total serviced for others $ 1,629 1,707 Ratio of MSRs to related loans serviced for others 0.79 % 0.94 (1) Excludes loans serviced by third parties . Table 11.4 presents the components of mortgage banking noninterest income. Table 11.4: Mortgage Banking Noninterest Income Year ended December 31, (in millions) 2019 2018 2017 Servicing income, net: Servicing fees: Contractually specified servicing fees $ 3,388 3,613 3,603 Late charges 129 162 172 Ancillary fees 143 182 199 Unreimbursed direct servicing costs (1) (403 ) (331 ) (582 ) Net servicing fees 3,257 3,626 3,392 Changes in fair value of MSRs carried at fair value: Due to changes in valuation model inputs or assumptions (2) (A) (2,569 ) 960 (126 ) Changes due to collection/realization of expected cash flows over time (3) (2,210 ) (1,875 ) (1,989 ) Total changes in fair value of MSRs carried at fair value (4,779 ) (915 ) (2,115 ) Amortization (274 ) (266 ) (263 ) Net derivative gains (losses) from economic hedges (4) (B) 2,318 (1,072 ) 413 Total servicing income, net 522 1,373 1,427 Net gains on mortgage loan origination/sales activities (5) 2,193 1,644 2,923 Total mortgage banking noninterest income $ 2,715 3,017 4,350 Market-related valuation changes to MSRs, net of hedge results (2)(4) (A)+(B) $ (251 ) (112 ) 287 (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 11.1 in this Note for more detail. (3) Represents the reduction in the MSR fair value for the cash flows expected to be collected during the period, net of income accreted due to the passage of time. (4) Represents results from economic hedges used to hedge the risk of changes in fair value of MSRs. See Note 18 (Derivatives) for additional discussion and detail. (5) Includes net gains (losses) of $(141) million , $857 million and $35 million at December 31, 2019 , 2018 and 2017 , respectively, related to derivatives used as economic hedges of mortgage loans held for sale and derivative loan commitments. |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | Note 12: Intangible Assets Table 12.1 presents the gross carrying value of intangible assets and accumulated amortization. Table 12.1: Intangible Assets December 31, 2019 December 31, 2018 (in millions) Gross carrying value Accumulated amortization Net carrying value Gross carrying value Accumulated amortization Net carrying value Amortized intangible assets (1): MSRs (2) $ 4,422 (2,992 ) 1,430 4,161 (2,718 ) 1,443 Core deposit intangibles — — — 12,834 (12,834 ) — Customer relationship and other intangibles 947 (524 ) 423 3,994 (3,449 ) 545 Total amortized intangible assets $ 5,369 (3,516 ) 1,853 20,989 (19,001 ) 1,988 Unamortized intangible assets: MSRs (carried at fair value) (2) $ 11,517 14,649 Goodwill 26,390 26,418 Trademark 14 14 (1) Balances are excluded commencing in the period following full amortization. (2) See Note 11 (Mortgage Banking Activities) for additional information on MSRs. Table 12.2 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 December 31, 2019 . Future amortization expense may vary from these projections. Table 12.2: Amortization Expense for Intangible Assets (in millions) Amortized MSRs Customer relationship and other intangibles Total Year ended December 31, 2019 (actual) $ 274 114 388 Estimate for year ended December 31, 2020 $ 263 95 358 2021 227 81 308 2022 203 68 271 2023 176 59 235 2024 152 48 200 Table 12.3 shows the allocation of goodwill to our reportable operating segments. Table 12.3: Goodwill (in millions) Community Banking Wholesale Banking Wealth and Investment Management Consolidated Company December 31, 2017 (1) $ 16,849 8,455 1,283 26,587 Reduction in goodwill related to divested businesses and foreign currency translation (164 ) (5 ) — (169 ) December 31, 2018 (1) $ 16,685 8,450 1,283 26,418 Reduction in goodwill related to divested businesses and foreign currency translation — (21 ) (7 ) (28 ) December 31, 2019 (1) $ 16,685 8,429 1,276 26,390 (1) At December 31, 2017, other assets included Goodwill classified as held-for-sale of $13 million related to the sales agreement for Wells Fargo Shareowner Services, which closed in February 2018. At December 31, 2019 , and December 31, 2018 , there was no Goodwill classified as held-for-sale in other assets. We assess goodwill for impairment at a reporting unit level, which is one level below the operating segments. Our goodwill was not impaired at December 31, 2019 and 2018 . The fair values exceeded the carrying amount of our respective reporting units by approximately 6% to 425% at December 31, 2019 |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2019 | |
Deposits [Abstract] | |
Deposits | Note 13: Deposits Table 13.1 presents a summary of the time certificates of deposit (CDs) and other time deposits issued by domestic and non-U.S. offices. Table 13.1: Time Certificates of Deposits and Other Time Deposits December 31, (in billions) 2019 2018 Total domestic and Non-U.S. $ 118.8 130.6 Domestic: $100,000 or more 43.7 42.5 $250,000 or more 34.6 37.1 Non-U.S. $100,000 or more 4.0 4.6 $250,000 or more 4.0 4.6 Substantially all CDs and other time deposits issued by domestic and non-U.S. offices were interest bearing. The contractual maturities of these deposits are presented in Table 13.2 . Table 13.2: Contractual Maturities of CDs and Other Time Deposits (in millions) December 31, 2019 2020 $ 88,259 2021 15,429 2022 6,055 2023 4,130 2024 1,906 Thereafter 3,070 Total $ 118,849 The contractual maturities of the domestic time deposits with a denomination of $100,000 or more are presented in Table 13.3 . Table 13.3: Contractual Maturities of Domestic Time Deposits (in millions) December 31, 2019 Three months or less $ 18,759 After three months through six months 10,583 After six months through twelve months 11,766 After twelve months 2,624 Total $ 43,732 Demand deposit overdrafts of $542 million and $624 million were included as loan balances at December 31, 2019 and 2018 , respectively. |
Short-Term Borrowings
Short-Term Borrowings | 12 Months Ended |
Dec. 31, 2019 | |
Short-term Debt [Abstract] | |
Short-Term Borrowings | Note 14: Short-Term Borrowings Table 14.1 shows selected information for short-term borrowings, which generally mature in less than 30 days . We pledge certain financial instruments that we own to collateralize repurchase agreements and other securities financings. For additional information, see the “Pledged Assets” section of Note 16 (Guarantees, Pledged Assets and Collateral, and Other Commitments). Table 14.1: Short-Term Borrowings 2019 2018 2017 (in millions) Amount Rate Amount Rate Amount Rate As of December 31, Federal funds purchased and securities sold under agreements to repurchase $ 92,403 1.54 % $ 92,430 2.65 % $ 88,684 1.30 % Commercial paper — — — — — — Other short-term borrowings 12,109 0.60 13,357 1.63 14,572 0.72 Total $ 104,512 1.43 $ 105,787 2.52 $ 103,256 1.22 Year ended December 31, Average daily balance Federal funds purchased and securities sold under agreements to repurchase $ 102,888 2.11 $ 90,348 1.78 $ 82,507 0.90 Commercial paper — — — — 16 0.95 Other short-term borrowings 12,449 1.20 13,919 0.79 16,399 0.13 Total $ 115,337 2.01 $ 104,267 1.65 $ 98,922 0.77 Maximum month-end balance Federal funds purchased and securities sold under agreements to repurchase (1) $ 111,726 N/A $ 93,918 N/A $ 91,604 N/A Commercial paper (2) — N/A — N/A 78 N/A Other short-term borrowings (3) 14,129 N/A 16,924 N/A 19,439 N/A N/A- Not applicable (1) Highest month-end balance in each of the last three years was October 2019 , November 2018 and November 2017 . (2) There were no month-end balances in 2019 and 2018; highest month-end balance in 2017 was January . (3) Highest month-end balance in each of the last three years was February 2019 , January 2018 and February 2017 . |
Long-Term Debt
Long-Term Debt | 12 Months Ended |
Dec. 31, 2019 | |
Long-term Debt, Current and Noncurrent [Abstract] | |
Long-Term Debt | Note 15: Long-Term Debt We issue long-term debt denominated in multiple currencies, largely in U.S. dollars. Our issuances have both fixed and floating interest rates. As a part of our overall interest rate risk management strategy, we often use derivatives to manage our exposure to interest rate risk. We also use derivatives to manage our exposure to foreign currency risk. As a result, approximately half of the long-term debt presented below is hedged in a fair value or cash flow hedge relationship. See Note 18 (Derivatives) for further information on qualifying hedge contracts. Table 15.1 presents a summary of our long-term debt carrying values, reflecting unamortized debt discounts and premiums, and purchase accounting adjustments, where applicable. The interest rates displayed represent the range of contractual rates in effect at December 31, 2019 . These interest rates do not include the effects of any associated derivatives designated in a hedge accounting relationship. Table 15.1: Long-Term Debt December 31, 2019 2018 (in millions) Maturity date(s) Stated interest rate(s) Wells Fargo & Company (Parent only) Senior Fixed-rate notes (1) 2020-2047 0.38 - 6.75% $ 86,618 77,742 Floating-rate notes 2020-2048 0.02-3.24% 16,800 19,553 FixFloat notes 2025-2030 2.41-3.58% 12,030 2,901 Structured notes (2) 8,390 7,984 Total senior debt - Parent 123,838 108,180 Subordinated Fixed-rate notes (3) 2023-2046 3.45-7.57% 27,195 25,428 Total subordinated debt - Parent 27,195 25,428 Junior subordinated Fixed-rate notes - trust securities 2029-2036 5.95-7.95% 1,428 1,308 Floating-rate notes 2027 2.50-3.00% 318 308 Total junior subordinated debt - Parent (4) 1,746 1,616 Total long-term debt - Parent (3) 152,779 135,224 Wells Fargo Bank, N.A., and other bank entities (Bank) Senior Fixed-rate notes 2020-2023 2.40-3.63% 9,364 14,222 Floating-rate notes 2020-2053 1.64-2.55% 10,617 6,617 FixFloat notes 2021-2022 2.08-3.33% 5,097 1,998 Fixed-rate advances - Federal Home Loan Bank (FHLB) 2020-2031 3.83-7.50% 41 51 Floating-rate advances - FHLB 2020-2022 1.83-2.31% 32,950 53,825 Structured notes (2) 1,914 1,646 Finance leases 2020-2029 1.69-17.78% 32 36 Total senior debt - Bank 60,015 78,395 Subordinated Fixed-rate notes 2023-2038 5.25-7.74% 5,374 5,199 Total subordinated debt - Bank 5,374 5,199 Junior subordinated Floating-rate notes 2027 2.48-2.65% 363 352 Total junior subordinated debt - Bank (4) 363 352 Long-term debt issued by VIE - Fixed rate 2037 6.00% 17 160 Long-term debt issued by VIE - Floating rate 2020-2038 2.38-4.62% 570 656 Mortgage notes and other debt (5) 2020-2057 9.20% 6,185 6,637 Total long-term debt - Bank 72,524 91,399 (continued on following page) (continued from previous page) December 31, 2019 2018 (in millions) Maturity date(s) Stated interest rate(s) Other consolidated subsidiaries Senior Fixed-rate notes 2021-2023 3.04-3.46% 1,352 2,383 Structured notes (2) 1,503 6 Finance leases 2020 3.71 % 1 — Total senior debt - Other consolidated subsidiaries 2,856 2,389 Mortgage notes and other 2026 3.27% 32 32 Total long-term debt - Other consolidated subsidiaries 2,888 2,421 Total long-term debt $ 228,191 229,044 (1) Includes $66 million of outstanding zero coupon callable notes at December 31, 2019 . (2) Included in the table are certain structured notes that have coupon or repayment terms linked to the performance of debt or equity securities, an embedded equity, commodity, or currency index, or basket of indices accounted for separately from the note as a free-standing derivative, and the maturity may be accelerated based on the value of a referenced index or security. For information on embedded derivatives, see the “Derivatives Not Designated as Hedging Instruments” section in Note 18 (Derivatives). In addition, a major portion consists of zero coupon callable notes where interest is paid as part of the final redemption amount. (3) Includes fixed-rate subordinated notes issued by the Parent at a discount of $128 million and $131 million in 2019 and 2018 , respectively, and debt issuance costs of $2 million in both 2019 and 2018, to effect a modification of Wells Fargo Bank, N.A., notes. These subordinated notes are carried at their par amount on the balance sheet of the Parent presented in Note 28 (Parent-Only Financial Statements). In addition, Parent long-term debt presented in Note 28 also includes affiliate related issuance costs of $281 million and $278 million in 2019 and 2018, respectively. (4) Represents junior subordinated debentures held by unconsolidated wholly-owned trusts formed for the sole purpose of issuing trust preferred securities. See Note 10 (Securitizations and Variable Interest Entities) for additional information. (5) Largely relates to unfunded commitments for LIHTC investments. For additional information, see Note 8 (Equity Securities). We issue long-term debt in a variety of maturities and currencies to achieve cost-efficient funding and to maintain an appropriate maturity profile. Long-term debt of $228.2 billion at December 31, 2019 , decreased $853 million from December 31, 2018. We issued $53.4 billion of long-term debt in 2019. The aggregate carrying value of long-term debt that matures (based on contractual payment dates) as of December 31, 2019 , in each of the following five years and thereafter is presented in Table 15.2 . Table 15.2: Maturity of Long-Term Debt December 31, 2019 (in millions) 2020 2021 2022 2023 2024 Thereafter Total Wells Fargo & Company (Parent Only) Senior notes $ 13,429 18,163 18,091 11,104 9,387 53,664 123,838 Subordinated notes — — — 3,653 737 22,805 27,195 Junior subordinated notes — — — — — 1,746 1,746 Total long-term debt - Parent 13,429 18,163 18,091 14,757 10,124 78,215 152,779 Wells Fargo Bank, N.A., and other bank entities (Bank) Senior notes 23,415 27,865 5,585 2,884 6 260 60,015 Subordinated notes — — — 1,071 — 4,303 5,374 Junior subordinated notes — — — — — 363 363 Securitizations and other bank debt 2,658 1,138 633 224 157 1,962 6,772 Total long-term debt - Bank 26,073 29,003 6,218 4,179 163 6,888 72,524 Other consolidated subsidiaries Senior notes 144 1,761 93 435 118 305 2,856 Securitizations and other bank debt — — — — — 32 32 Total long-term debt - Other consolidated subsidiaries 144 1,761 93 435 118 337 2,888 Total long-term debt $ 39,646 48,927 24,402 19,371 10,405 85,440 228,191 As part of our long-term and short-term borrowing arrangements, we are subject to various financial and operational covenants. Some of the agreements under which debt has been issued have provisions that may limit the merger or sale of certain subsidiary banks and the issuance of capital stock or convertible securities by certain subsidiary banks. At December 31, 2019 , we were in compliance with all the covenants. |
Guarantees, Pledged Assets and
Guarantees, Pledged Assets and Collateral, and Other Commitments | 12 Months Ended |
Dec. 31, 2019 | |
Guarantees [Abstract] | |
Guarantees, Pledged Assets and Collateral, and Other Commitments | Note 16: Guarantees, Pledged Assets and Collateral, and Other Commitments 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 options, recourse obligations, and other types of similar arrangements. Table 16.1 shows carrying value, maximum exposure to loss on our guarantees and the related non-investment grade amounts. Table 16.1: 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 December 31, 2019 Standby letters of credit $ 36 11,569 4,460 2,812 467 19,308 7,104 Direct pay letters of credit — 1,861 3,815 824 105 6,605 1,184 Written options (1) (345 ) 17,088 10,869 2,341 273 30,571 18,113 Loans and MLHFS sold with recourse (2) 52 114 576 1,356 10,050 12,096 9,835 Exchange and clearing house guarantees — — — — 4,817 4,817 — Other guarantees and indemnifications (3) 1 785 1 3 809 1,598 698 Total guarantees $ (256 ) 31,417 19,721 7,336 16,521 74,995 36,934 December 31, 2018 Standby letters of credit (4) $ 40 10,947 4,649 2,872 461 18,929 7,017 Direct pay letters of credit (4) — 3,689 3,248 526 36 7,499 1,010 Written options (1) (185 ) 17,243 10,502 3,066 400 31,211 21,732 Loans and MLHFS sold with recourse (2) 54 104 653 1,207 10,163 12,127 9,079 Exchange and clearing house guarantees (4) — — — — 2,922 2,922 — Other guarantees and indemnifications (3), (4) 1 889 1 3 1,081 1,974 753 Total guarantees $ (90 ) 32,872 19,053 7,674 15,063 74,662 39,591 (1) Written options, which are in the form of derivatives, are also included in the derivative disclosures in Note 18 (Derivatives). Carrying value net asset position is a result of certain deferred premium option trades. (2) Represent recourse provided, predominantly to the GSEs, on loans sold under various programs and arrangements. (3) Includes indemnifications provided to certain third-party clearing agents. Outstanding customer obligations under these arrangements were $80 million and $70 million with related collateral of $696 million and $974 million at December 31, 2019 and 2018 , respectively. (4) Prior period amounts have been revised to conform with the current period presentation. “Maximum exposure to loss” and “Non-investment grade” are required disclosures under GAAP. Maximum exposure to loss represents the estimated loss that would be incurred under an assumed hypothetical circumstance, despite what we believe is a remote possibility, where the value of our interests and any associated collateral declines to zero. Maximum exposure to loss estimates in Table 16.1 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, or the allowance for lending-related commitments, is more representative of our exposure to loss. Non-investment grade represents those guarantees on which we have a higher risk of performance 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 6 (Loans and Allowance for Credit Losses). STANDBY LETTERS OF CREDIT We issue standby letters of credit, which include performance and financial guarantees, for customers in connection with contracts between our customers and third parties. 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. Standby letters of credit are conditional lending commitments where we are obligated to make payment to a third party on behalf of a customer if the customer fails to meet their contractual obligations. Total maximum exposure to loss includes the portion of multipurpose lending facilities for which we have issued standby letters of credit under the commitments. We consider the credit risk in standby letters of credit and commercial and similar letters of credit in determining the ACL. DIRECT PAY LETTERS OF CREDIT We issue direct pay letters of credit to serve as 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 consider the credit risk in direct pay letters of credit in determining the ACL. WRITTEN OPTIONS We enter into certain derivative contracts that have the characteristics of a guarantee. These contracts include written put options that give the counterparty the right to sell to us an underlying instrument held by the counterparty at a specified price by a specified date. They also include certain written options that require us to make a payment for increases in fair value of assets held by the counterparty. These written option contracts generally permit or require net settlement. While these derivative transactions expose us to risk if the option is exercised, we manage this risk by entering into offsetting trades or by taking short positions in the underlying instrument. We offset market risk related to options written to customers with cash securities or other offsetting derivative transactions. Additionally, for certain of these contracts, we require the counterparty to pledge the underlying instrument as collateral for the transaction. Our ultimate obligation under written options is based on future market conditions and is only quantifiable at settlement. See Note 18 (Derivatives) for additional information regarding written derivative contracts. LOANS AND MLHFS SOLD WITH RECOURSE In certain sales and securitizations of loans, including mortgage loans, we provide recourse to the buyer whereby we are required to indemnify the buyer for any loss on the loan up to par value plus accrued interest. We provide recourse, predominantly to GSEs, on loans sold under various programs and arrangements. Substantially all of these programs and arrangements require that we share in the loans’ credit exposure for their remaining life by providing recourse to the GSE, up to 33.33% of actual losses incurred on a pro-rata basis in the event of borrower default. Under the remaining recourse programs and arrangements, if certain events occur within a specified period of time from transfer date, we have to provide limited recourse to the buyer to indemnify them for losses incurred for the remaining life of the loans. The maximum exposure to loss reported in Table 16.1 represents the outstanding principal balance of the loans sold or securitized that are subject to recourse provisions or the maximum losses per the contractual agreements. However, we believe the likelihood of loss of the entire balance due to these recourse agreements is remote, and amounts paid can be recovered in whole or in part from the sale of collateral. We also provide representation and warranty guarantees on loans sold under the various recourse programs and arrangements. Our loss exposure relative to these guarantees is separately considered and provided for, as necessary, in determination of our liability for loan repurchases due to breaches of representation and warranties. EXCHANGE AND CLEARING HOUSE GUARANTEES We are members of several securities and derivatives exchanges and clearing houses, both in the U.S. and in countries outside the U.S., that we use to clear our trades and those of our customers. It is common that all members in these organizations are required to collectively guarantee the performance of other members and of the organization. Our obligations under the guarantees are generally a pro-rata share based on either a fixed amount or a multiple of the guarantee fund we are required to maintain with these organizations. Some membership rules require members to assume a pro-rata share of losses resulting from another member’s default or from non-member default losses after applying the guarantee fund. We have not recorded a liability for these arrangements as of the dates presented in Table 16.1 because we believe the likelihood of loss is remote. OTHER GUARANTEES AND INDEMNIFICATIONS We have contingent performance arrangements related to various customer relationships and lease transactions. We are required to pay the counterparties to these agreements if third parties default on certain obligations. Under certain factoring arrangements, we may be required to purchase trade receivables from third parties, if receivable debtors default on their payment obligations. We use certain third-party clearing agents to clear and settle transactions on behalf of some of our institutional brokerage customers. We indemnify the clearing agents against loss that could occur for non-performance by our customers on transactions that are not sufficiently collateralized. Transactions subject to the indemnifications may include customer obligations related to the settlement of margin accounts and short positions, such as written call options and securities borrowing transactions. We enter into other types of indemnification agreements in the ordinary course of business under which we agree to indemnify third parties against any damages, losses and expenses incurred in connection with legal and other proceedings arising from relationships or transactions with us. These relationships or transactions include those arising from service as a director or officer of the Company, underwriting agreements relating to our securities, acquisition agreements and various other business transactions or arrangements. Because the extent of our obligations under these agreements depends entirely upon the occurrence of future events, we are unable to determine our potential future liability under these agreements. We do, however, record a liability for residential mortgage loans that we expect to repurchase pursuant to various representations and warranties. GUARANTEES OF SUBSIDIARIES In the normal course of business, the Parent may provide counterparties with guarantees related to its subsidiaries’ obligations. These obligations are included in the Company’s consolidated balance sheets or are reflected as off-balance sheet commitments, and therefore, the Parent has not recognized a separate liability for these guarantees. The Parent fully and unconditionally guarantees the payment of principal, interest, and any other amounts that may be due on securities that its 100% owned finance subsidiary, Wells Fargo Finance LLC, may issue. These guaranteed liabilities were $1.6 billion and $5 million at December 31, 2019 and 2018 , respectively. These guarantees rank on parity with all of the Parent’s other unsecured and unsubordinated indebtedness. Pledged Assets Table 16.2 provides the carrying amount of on-balance sheet pledged assets and the fair value of off-balance sheet pledged assets. TRADING RELATED ACTIVITY Our trading businesses may pledge debt and equity securities in connection with securities sold under agreements to repurchase (repurchase agreements) and securities lending arrangements. Substantially all of the trading activity pledged collateral is eligible to be repledged or sold by the secured party. The collateral that we pledge related to our trading activities may include our own collateral as well as collateral that we have received from third parties and have the right to repledge. NON-TRADING RELATED ACTIVITY As part of our liquidity management strategy, we may pledge loans, debt securities, and other assets to secure trust and public deposits, borrowings and letters of credit from the Federal Home Loan Bank (FHLB) and FRB and for other purposes as required or permitted by law or insurance statutory requirements. Substantially all of the non-trading activity pledged collateral is not eligible to be repledged or sold by the secured party. Table 16.2 excludes: • Pledged assets of consolidated VIEs of $14.4 billion and $14.6 billion at December 31, 2019 and 2018 , respectively, which can only be used to settle the liabilities of those entities; • Assets pledged in transactions with VIEs accounted for as secured borrowings of $80 million and $94 million at December 31, 2019 and 2018 , respectively; and • Pledged loans recorded on our balance sheet of $568 million and $1.2 billion at December 31, 2019 and 2018 , respectively, representing certain delinquent loans that are eligible for repurchase from GNMA loan securitizations. See Note 10 (Securitizations and Variable Interest Entities) for additional information on consolidated VIE assets and secured borrowings. Table 16.2: Pledged Assets Dec 31, Dec 31, (in millions) 2019 2018 Related to trading activities: Debt securities $ 106,105 96,616 Equity securities 6,204 9,695 Total pledged assets related to trading activities (1) 112,309 106,311 Related to non-trading activities: Debt securities and other 65,047 62,438 Mortgage loans held for sale (2) 2,266 7,439 Loans (2) 406,106 446,455 Total pledged assets related to non-trading activities 473,419 516,332 Total pledged assets $ 585,728 622,643 (1) Includes securities collateral received from third parties that we have repledged of $60.1 billion and $60.8 billion as of December 31, 2019 and 2018, respectively. (2) Prior period amounts have been revised to conform with the current period presentation. 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 SECURITIES FINANCING ACTIVITIES Table 16.3 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 16.3 , we also have balance sheet netting related to derivatives that is disclosed in Note 18 (Derivatives). Table 16.3: Offsetting – Securities Financing Activities Dec 31, Dec 31, (in millions) 2019 2018 Assets: Resale and securities borrowing agreements Gross amounts recognized $ 140,773 112,662 Gross amounts offset in consolidated balance sheet (1) (19,180 ) (15,258 ) Net amounts in consolidated balance sheet (2) 121,593 97,404 Collateral not recognized in consolidated balance sheet (3) (120,786 ) (96,734 ) Net amount (4) $ 807 670 Liabilities: Repurchase and securities lending agreements Gross amounts recognized (5) $ 111,038 106,248 Gross amounts offset in consolidated balance sheet (1) (19,180 ) (15,258 ) Net amounts in consolidated balance sheet (6) 91,858 90,990 Collateral pledged but not netted in consolidated balance sheet (7) (91,709 ) (90,798 ) Net amount (8) $ 149 192 (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) Includes $102.1 billion and $80.1 billion , respectively, classified on our consolidated balance sheet in federal funds sold and securities purchased under resale agreements at December 31, 2019 and 2018 . Also includes securities purchased under long-term resale agreements (generally one year or more) classified in loans, which totaled $19.5 billion and $17.3 billion , at December 31, 2019 and 2018 , respectively. (3) Represents the fair value of collateral we have received under enforceable MRAs or MSLAs, limited in the table above to the amount of the recognized asset due from each counterparty. At December 31, 2019 and 2018 , we have received total collateral with a fair value of $150.9 billion and $123.1 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 $59.1 billion at December 31, 2019 , and $60.8 billion at December 31, 2018 . (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 in the table above to the amount of the recognized liability owed to each counterparty. At December 31, 2019 and 2018 , we have pledged total collateral with a fair value of $113.3 billion and $108.8 billion , respectively, substantially all of which may be sold or repledged by the counterparty. (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 in various ways. Most of our collateral consists of highly liquid securities. In addition, we underwrite and monitor the financial strength of our counterparties, monitor the fair value of collateral pledged relative to contractually required repurchase amounts, and monitor that our collateral is properly returned through the clearing and settlement process in advance of our cash repayment. Table 16.4 provides the gross amounts recognized on the balance sheet (before the effects of offsetting) of our liabilities for repurchase and securities lending agreements disaggregated by underlying collateral type. Table 16.4: Gross Obligations by Underlying Collateral Type Dec 31, Dec 31, (in millions) 2019 2018 Repurchase agreements: Securities of U.S. Treasury and federal agencies $ 48,161 38,408 Securities of U.S. States and political subdivisions 104 159 Federal agency mortgage-backed securities 44,737 47,241 Non-agency mortgage-backed securities 1,818 1,875 Corporate debt securities 7,126 6,191 Asset-backed securities 1,844 2,074 Equity securities 1,674 992 Other 705 340 Total repurchases 106,169 97,280 Securities lending arrangements: Securities of U.S. Treasury and federal agencies 163 222 Federal agency mortgage-backed securities — 2 Corporate debt securities 223 389 Equity securities (1) 4,481 8,349 Other 2 6 Total securities lending 4,869 8,968 Total repurchases and securities lending $ 111,038 106,248 (1) Equity securities are generally exchange traded and represent collateral received from third parties that has been repledged. We received the collateral through either margin lending agreements or contemporaneous securities borrowing transactions with other counterparties. Table 16.5 provides the contractual maturities of our gross obligations under repurchase and securities lending agreements. Table 16.5: Contractual Maturities of Gross Obligations (in millions) Overnight/continuous Up to 30 days 30-90 days >90 days Total gross obligation December 31, 2019 Repurchase agreements $ 79,793 17,681 4,825 3,870 106,169 Securities lending arrangements 4,724 — 145 — 4,869 Total repurchases and securities lending (1) $ 84,517 17,681 4,970 3,870 111,038 December 31, 2018 Repurchase agreements $ 86,574 3,244 2,153 5,309 97,280 Securities lending arrangements 8,669 — 299 — 8,968 Total repurchases and securities lending (1) $ 95,243 3,244 2,452 5,309 106,248 (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. OTHER COMMITMENTS To meet the financing needs of our customers, we may enter into commitments to purchase debt and equity securities to provide capital for their funding, liquidity or other future needs. As of December 31, 2019 and 2018 , we had commitments to purchase debt securities of $18 million and $335 million , respectively, and commitments to purchase equity securities of $2.7 billion and $2.5 billion , respectively. As part of maintaining our memberships in certain clearing organizations, we are required to stand ready to provide liquidity to sustain market clearing activity in the event unforeseen events occur or are deemed likely to occur. Certain of these obligations are guarantees of other members’ performance and accordingly are included in Table 16.1 . Also, we have commitments to purchase loans and securities under resale agreements from certain counterparties, including central clearing organizations. The amount of our unfunded contractual commitments was $7.5 billion and $12.4 billion as of December 31, 2019 and 2018 , respectively. Given the nature of these commitments, they are excluded from Table 6.4 ( Unfunded Credit Commitments ) in Note 6 (Loans and Allowance for Credit Losses). |
Legal Actions
Legal Actions | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Legal Actions | Note 17: Legal Actions Wells Fargo and certain of our subsidiaries are involved in a number of judicial, regulatory, governmental, arbitration, and other proceedings or investigations concerning matters arising from the conduct of our business activities, and many of those proceedings and investigations expose Wells Fargo to potential financial loss. These proceedings and investigations include actions brought against Wells Fargo and/or our subsidiaries with respect to corporate-related matters and transactions in which Wells Fargo and/or our subsidiaries were involved. In addition, Wells Fargo and our subsidiaries may be requested to provide information or otherwise cooperate with government authorities in the conduct of investigations of other persons or industry groups. Although there can be no assurance as to the ultimate outcome, Wells Fargo and/or our subsidiaries have generally denied, or believe we have a meritorious defense and will deny, liability in all significant legal actions pending against us, including the matters described below, and we intend to defend vigorously each case, other than matters we describe as having settled. We establish accruals for legal actions when potential losses associated with the actions become probable and the costs can be reasonably estimated. For such accruals, we record the amount we consider to be the best estimate within a range of potential losses that are both probable and estimable; however, if we cannot determine a best estimate, then we record the low end of the range of those potential losses. The actual costs of resolving legal actions may be substantially higher or lower than the amounts accrued for those actions. ATM ACCESS FEE LITIGATION In October 2011, plaintiffs filed a putative class action, Mackmin, et al. v. Visa, Inc. et al. , against Wells Fargo & Company, Wells Fargo Bank, N.A., Visa, MasterCard, and several other banks in the United States District Court for the District of Columbia. Plaintiffs allege that the Visa and MasterCard requirement that if an ATM operator charges an access fee on Visa and MasterCard transactions, then that fee cannot be greater than the access fee charged for transactions on other networks, violates antitrust rules. Plaintiffs seek treble damages, restitution, injunctive relief, and attorneys’ fees where available under federal and state law. Two other antitrust cases that make similar allegations were filed in the same court, but these cases did not name Wells Fargo as a defendant. On February 13, 2013, the district court granted defendants’ motions to dismiss the three actions. Plaintiffs appealed the dismissals and, on August 4, 2015, the United States Court of Appeals for the District of Columbia Circuit vacated the district court’s decisions and remanded the three cases to the district court for further proceedings. On June 28, 2016, the United States Supreme Court granted defendants’ petitions for writ of certiorari to review the decisions of the United States Court of Appeals for the District of Columbia. On November 17, 2016, the United States Supreme Court dismissed the petitions as improvidently granted, and the three cases returned to the district court for further proceedings. AUTOMOBILE LENDING MATTERS On April 20, 2018, the Company entered into consent orders with the Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB) to resolve, among other things, investigations by the agencies into the Company’s compliance risk management program and its past practices involving certain automobile collateral protection insurance (CPI) policies and certain mortgage interest rate lock extensions. The consent orders require remediation to customers and the payment of a total of $1.0 billion in civil money penalties to the agencies. In July 2017, the Company announced a plan to remediate customers who may have been financially harmed due to issues related to automobile CPI policies purchased through a third-party vendor on their behalf. Multiple putative class action cases alleging, among other things, unfair and deceptive practices relating to these CPI policies, have been filed against the Company and consolidated into one multi-district litigation in the United States District Court for the Central District of California. The Company has reached an agreement to resolve the multi-district litigation pursuant to which the Company has agreed to pay, consistent with its remediation obligations under the consent orders, approximately $547 million in remediation to customers with CPI policies placed between October 15, 2005, and September 30, 2016. The settlement amount is not incremental to the Company’s remediation obligations under the consent orders, but instead encompasses those obligations, including remediation payments to date. The settlement amount is subject to change as the Company finalizes its remediation activity under the consent orders. In addition, the Company has agreed to contribute $1 million to a common fund for the class. The district court granted final approval of the settlement on November 21, 2019. A putative class of shareholders also filed a securities fraud class action against the Company and its executive officers alleging material misstatements and omissions of CPI-related information in the Company’s public disclosures. In addition, the Company is subject to a class action lawsuit in the United States District Court for the Central District of California alleging that customers are entitled to refunds related to the unused portion of guaranteed automobile protection (GAP) waiver or insurance agreements between the customer and dealer and, by assignment, the lender. Allegations related to the CPI and GAP programs are among the subjects of shareholder derivative lawsuits pending in federal and state court in California. The court dismissed the state court action in September 2018, but plaintiffs filed an amended complaint in November 2018. The parties to the state court action have entered into an agreement to resolve the action pursuant to which the Company will pay plaintiffs’ attorneys’ fees and undertake certain business and governance practices. The state court granted final approval of the settlement on January 15, 2020. These and other issues related to the origination, servicing, and collection of consumer automobile loans, including related insurance products, have also subjected the Company to formal or informal inquiries, investigations, or examinations from federal and state government agencies. In December 2018, the Company entered into an agreement with all 50 state Attorneys General and the District of Columbia to resolve an investigation into the Company’s retail sales practices, CPI and GAP, and mortgage interest rate lock matters, pursuant to which the Company paid $575 million . CONSUMER DEPOSIT ACCOUNT RELATED REGULATORY INVESTIGATION The CFPB is conducting an investigation into whether customers were unduly harmed by the Company’s historical practices associated with the freezing (and, in many cases, closing) of consumer deposit accounts after the Company detected suspected fraudulent activity (by third parties or account holders) that affected those accounts. FIDUCIARY AND CUSTODY ACCOUNT FEE CALCULATIONS Federal government agencies are conducting formal or informal inquiries, investigations, or examinations regarding fee calculations within certain fiduciary and custody accounts in the Company’s investment and fiduciary services business, which is part of the wealth management business within the Wealth and Investment Management (WIM) operating segment. The Company has determined that there have been instances of incorrect fees being applied to certain assets and accounts, resulting in both overcharges and undercharges to customers. FOREIGN EXCHANGE BUSINESS Federal government agencies, including the United States Department of Justice (Department of Justice), are investigating or examining certain activities in the Company’s foreign exchange business, including whether customers may have received pricing inconsistent with commitments made to those customers. These matters are at varying stages. The Company has responded, and continues to respond, to requests from a number of the foregoing and has discussed the potential resolution of some of the matters. INTERCHANGE LITIGATION Plaintiffs representing a putative class of merchants have filed putative class actions, and individual merchants have filed individual actions, against Wells Fargo Bank, N.A., Wells Fargo & Company, Wachovia Bank, N.A., and Wachovia Corporation regarding the interchange fees associated with Visa and MasterCard payment card transactions. Visa, MasterCard, and several other banks and bank holding companies are also named as defendants in these actions. These actions have been consolidated in the United States District Court for the Eastern District of New York. 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 action 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 United States Court of Appeals for the Second Circuit by settlement objector merchants. Other merchants opted out of the settlement and are pursuing several individual actions. On June 30, 2016, the Second Circuit vacated the settlement agreement and reversed and remanded the consolidated action to the United States 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. The parties have entered into a settlement agreement to resolve the money damages class claims pursuant to which defendants will pay a total of approximately $6.2 billion , which includes approximately $5.3 billion of funds remaining from the 2012 settlement and $900 million in additional funding. The Company’s allocated responsibility for the additional funding is approximately $94.5 million . The court granted final approval of the settlement on December 13, 2019, which was appealed to the United States Court of Appeals for the Second Circuit by settlement objector merchants. Several of the opt-out and direct action litigations have been settled while others remain pending. Discovery is proceeding in the opt-out litigations and the equitable relief class case. LOW INCOME HOUSING TAX CREDITS Federal government agencies have undertaken formal or informal inquiries or investigations regarding the manner in which the Company purchased, and negotiated the purchase of, certain federal low income housing tax credits in connection with the financing of low income housing developments. MOBILE DEPOSIT PATENT LITIGATION The Company is a defendant in two separate cases brought by United Services Automobile Association (USAA) in the United States District Court for the Eastern District of Texas alleging claims of patent infringement regarding mobile deposit capture technology patents held by USAA. Trial in the first case commenced on October 30, 2019, and resulted in a $200 million verdict against the Company. Trial in the second case commenced on January 6, 2020, and resulted in a $102.7 million verdict against the Company. The Company has filed post-trial motions to, among other things, vacate the verdicts, and USAA has filed post-trial motions seeking future royalty payments and damages for willful infringement. MORTGAGE LOAN MODIFICATION LITIGATION Plaintiffs representing a putative class of mortgage borrowers have filed separate putative class actions, Hernandez v. Wells Fargo, et al. , Coordes v. Wells Fargo, et al. , Ryder v. Wells Fargo , Liguori v. Wells Fargo , and Dore v. Wells Fargo , against Wells Fargo Bank, N.A., in the United States District Court for the Northern District of California, the United States District Court for the District of Washington, the United States District Court for the Southern District of Ohio, the United States District Court for the Southern District of New York, and the United States District Court for the Western District of Pennsylvania, respectively. Plaintiffs allege that Wells Fargo improperly denied mortgage loan modifications or repayment plans to customers in the foreclosure process due to the overstatement of foreclosure attorneys’ fees that were included for purposes of determining whether a customer in the foreclosure process qualified for a mortgage loan modification or repayment plan. MORTGAGE-RELATED REGULATORY INVESTIGATIONS Federal and state government agencies, including the Department of Justice, have been investigating or examining certain mortgage related activities of Wells Fargo and predecessor institutions. Wells Fargo, for itself and for predecessor institutions, has responded, or continues to respond, to requests from these agencies seeking information regarding the origination, underwriting, and securitization of residential mortgages, including sub-prime mortgages. These agencies have advanced theories of purported liability with respect to certain of these activities. An agreement, pursuant to which the Company paid $2.09 billion , was reached in August 2018 to resolve the Department of Justice investigation, which related to certain 2005-2007 residential mortgage-backed securities activities. In addition, the Company reached an agreement with the Attorney General of the State of Illinois in November 2018 pursuant to which the Company paid $17 million in restitution to certain Illinois state pension funds to resolve a claim relating to certain residential mortgage-backed securities activities. Other financial institutions have entered into similar settlements with these agencies, the nature of which related to the specific activities of those financial institutions, including the imposition of significant financial penalties and remedial actions. OFAC RELATED INVESTIGATION The Company has self-identified an issue whereby certain foreign banks utilized a Wells Fargo software-based solution to conduct import/export trade-related financing transactions with countries and entities prohibited by the Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury. We do not believe any funds related to these transactions flowed through accounts at Wells Fargo as a result of the aforementioned conduct. The Company has made voluntary self-disclosures to OFAC and is cooperating with an inquiry from the Department of Justice. ORDER OF POSTING LITIGATION Plaintiffs filed a series of putative class actions against Wachovia Bank, N.A., and Wells Fargo Bank, N.A., as well as many other banks, challenging the “high to low” order in which the banks post debit card transactions to consumer deposit accounts. Most of these actions were consolidated in multi-district litigation proceedings (MDL proceedings) in the United States District Court for the Southern District of Florida. The court in the MDL proceedings has certified a class of putative plaintiffs, and Wells Fargo moved to compel arbitration of the claims of unnamed class members. The court denied the motions to compel arbitration in October 2016, and Wells Fargo appealed this decision to the United States Court of Appeals for the Eleventh Circuit. In May 2018, the Eleventh Circuit ruled in Wells Fargo’s favor and found that Wells Fargo had not waived its arbitration rights and remanded the case to the district court for further proceedings. On September 26, 2019, the district court entered an order granting Wells Fargo’s motion and dismissed the claims of unnamed class members in favor of arbitration. Plaintiffs appealed this decision to the United States Court of Appeals for the Eleventh Circuit. RETAIL SALES PRACTICES MATTERS A number of bodies or entities, including (a) federal, state, and local government agencies, including the Department of Justice, the United States Securities and Exchange Commission (SEC), and the United States Department of Labor, (b) state attorneys general, including the New York Attorney General, and (c) Congressional committees, have undertaken formal or informal inquiries, investigations, or examinations arising out of certain retail sales practices of the Company that were the subject of settlements with the CFPB, the OCC, and the Office of the Los Angeles City Attorney announced by the Company on September 8, 2016. These matters are at varying stages. The Company has responded, and continues to respond, to requests from a number of the foregoing. In October 2018, the Company entered into an agreement to resolve the New York Attorney General’s investigation pursuant to which the Company paid $65 million to the State of New York. In December 2018, the Company entered into an agreement with all 50 state Attorneys General and the District of Columbia to resolve an investigation into the Company’s retail sales practices, CPI and GAP, and mortgage interest rate lock matters, pursuant to which the Company paid $575 million . On February 21, 2020 , the Company entered into an agreement with the Department of Justice to resolve the Department of Justice’s criminal investigation into the Company’s retail sales practices, as well as a separate agreement to resolve the Department of Justice’s civil investigation. As part of the Department of Justice criminal settlement, no charges will be filed against the Company provided the Company abides by all the terms of the agreement. The Department of Justice criminal settlement also includes the Company’s agreement that the facts set forth in the settlement document constitute sufficient facts for the finding of criminal violations of statutes regarding bank records and personal information. On February 21, 2020 , the Company also entered into an order to resolve the SEC’s investigation arising out of the Company’s retail sales practices. The SEC order contains a finding, to which the Company consented, that the facts set forth include violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. As part of the resolution of the Department of Justice and SEC investigations, the Company has agreed to make payments totaling $3.0 billion . In addition, as part of the settlements and included in the $3.0 billion amount, the Company has agreed to the creation of a $500 million Fair Fund for the benefit of investors who were harmed by the conduct covered in the SEC settlement. In addition, a number of lawsuits have been filed by non-governmental parties seeking damages or other remedies related to these retail 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 separate putative class actions 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 ., pursuant to which the Company will pay $142 million to resolve claims regarding certain products or services provided without authorization or consent for the time period May 1, 2002 to April 20, 2017. The district court issued an order granting final approval of the settlement on June 14, 2018. Several appeals of the district court’s order granting final approval of the settlement have been filed with the United States Court of Appeals for the Ninth Circuit. Second, Wells Fargo shareholders brought 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. The Company entered into a settlement agreement to resolve this matter pursuant to which the Company paid $480 million . The district court issued an order granting final approval of the settlement on December 20, 2018. Third, Wells Fargo shareholders have brought numerous shareholder derivative lawsuits asserting breach of fiduciary duty claims against, among others, current and former directors and officers for their alleged involvement with and failure to detect and prevent sales practices issues. These actions are currently pending in the United States District Court for the Northern District of California and California state court as coordinated proceedings. An additional lawsuit, which asserts similar claims and is pending in Delaware state court, has been stayed. The parties have entered into settlement agreements to resolve the shareholder derivative lawsuits pursuant to which insurance carriers will pay the Company approximately $240 million for alleged damage to the Company, and the Company will pay plaintiffs’ attorneys’ fees. The federal court granted preliminary approval of the settlement for its action and held a final approval hearing on August 1, 2019. The state court granted final approval of the settlement for its action on January 15, 2020. Fourth, multiple employment litigation matters have been brought against Wells Fargo, including (a) a purported Employee Retirement Income Security Act (ERISA) class action in the United States District Court for the District of Minnesota on behalf of 401(k) plan participants; this action has been dismissed and is now on appeal; (b) a purported class action in the United States District Court for the Northern District of California on behalf of team members who allege that they protested sales practice misconduct and/or were terminated for not meeting sales goals; this action has been dismissed, and we have entered into a framework with plaintiffs’ counsel to address individual claims that have been asserted; (c) 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 team members alleging that sales pressure resulted in uncompensated overtime; these actions have been settled; and (d) multiple single-plaintiff Sarbanes-Oxley Act complaints and state law whistleblower actions filed with the United States Department of Labor or in various state courts alleging adverse employment actions for raising sales practice misconduct issues. RMBS TRUSTEE LITIGATION In November 2014, a group of institutional investors (Institutional Investor Plaintiffs), including funds affiliated with BlackRock, Inc., filed a putative class action in the United States District Court for the Southern District of New York against Wells Fargo Bank, N.A., alleging claims against the Company in its capacity as trustee for a number of residential mortgage-backed securities (RMBS) trusts (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 alleged that Wells Fargo Bank, N.A., as trustee, caused losses to investors and asserted 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 sought money damages in an unspecified amount, reimbursement of expenses, and equitable relief. In December 2014 and December 2015, certain other investors filed additional complaints alleging similar claims against Wells Fargo Bank, N.A., in the Southern District of New York (Related Federal Cases). In January 2016, the Southern District of New York entered an order in connection with the Federal Court Complaint dismissing claims related to certain of the trusts at issue (Dismissed Trusts). The Company’s subsequent motion to dismiss the Federal Court Complaint and the complaints for the Related Federal Cases was granted in part and denied in part in March 2017. In May 2017, the Company filed third-party complaints against certain investment advisors affiliated with the Institutional Investor Plaintiffs seeking contribution with respect to claims alleged in the Federal Court Complaint (Third-Party Claims). 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 (State Court Action). A complaint raising similar allegations to those in the Federal Court Complaint was filed in May 2016 in New York state court by IKB International and IKB Deutsche Industriebank (IKB Action). In July 2017, certain of the plaintiffs from the State Court Action filed a civil complaint relating to Wells Fargo Bank, N.A.’s setting aside reserves for legal fees and expenses in connection with the liquidation of eleven RMBS trusts at issue in the State Court Action (Declaratory Judgment Action). The complaint sought, among other relief, declarations that the Company is not entitled to indemnification, the advancement of funds, or the taking of reserves from trust funds for legal fees and expenses it incurs in defending the claims in the State Court Action. In May 2019, the New York state court approved a settlement agreement among the Institutional Investor Plaintiffs and the Company pursuant to which, among other terms, the Company paid $43 million to resolve the Federal Court Complaint and the State Court Action. The settlement also resolved the Third Party Claims and the Declaratory Judgment Action. The settlement did not affect the Related Federal Cases or the IKB Action, which remain pending. SEMINOLE TRIBE TRUSTEE LITIGATION The Seminole Tribe of Florida filed a complaint in Florida state court alleging that Wells Fargo, as trustee, charged excess fees in connection with the administration of a minor’s trust and failed to invest the assets of the trust prudently. The complaint was later amended to include three individual current and former beneficiaries as plaintiffs and to remove the Tribe as a party to the case. In December 2016, the Company filed a motion to dismiss the amended complaint on the grounds that the Tribe is a necessary party and that the individual beneficiaries lack standing to bring claims. The motion was denied in June 2018. Trial is scheduled for April 2020. WHOLESALE BANKING CONSENT ORDER INVESTIGATION On November 19, 2015, the Company entered into a consent order with the OCC, pursuant to which the Wholesale Banking group was required to implement customer due diligence standards that include collection of current beneficial ownership information for certain business customers. The Company is responding to inquiries from various federal government agencies regarding potentially inappropriate conduct in connection with the collection of beneficial ownership information. OUTLOOK As described above, the Company establishes accruals for legal actions when potential losses associated with the actions become probable and the costs can be reasonably estimated. The high end of the range of reasonably possible potential losses in excess of the Company’s accrual for probable and estimable losses was approximately $2.6 billion as of December 31, 2019 . 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 accrual or the range of reasonably possible loss. Wells Fargo is unable to determine whether the ultimate resolution of the retail 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 | 12 Months Ended |
Dec. 31, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives | Note 18: 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 qualifying hedge accounting relationships (fair value or cash flow hedges). Our remaining derivatives consist of economic hedges that do not qualify for hedge accounting and derivatives held for customer accommodation trading or other purposes. Risk management derivatives Our asset/liability management approach to interest rate, foreign currency and certain other risks includes the use of derivatives, which are typically designated as fair value or cash flow hedges, or economic hedges. We use derivatives to help minimize significant, unplanned fluctuations in earnings, fair values of assets and liabilities, and cash flows caused by interest rate, foreign currency and other market risk volatility. This approach involves modifying the repricing characteristics of certain assets and liabilities so that changes in interest rates, foreign currency and other exposures, which may cause the hedged assets and liabilities to gain or lose fair value, do not have a significant adverse effect on the net interest margin, cash flows and earnings. In a fair value or economic hedge, the effect of change in fair value will generally be offset by the unrealized gain or loss on the derivatives linked to the hedged assets and liabilities. In a cash flow hedge, where we manage the variability of cash payments due to interest rate or foreign currency fluctuations by the effective use of derivatives linked to hedged assets and liabilities, the hedged asset or liability is not adjusted and the unrealized gain or loss on the derivative is recorded in other comprehensive income. Customer accommodation trading We also use various derivatives, including interest rate, commodity, equity, credit and foreign exchange contracts, as an accommodation to our customers as part of our trading businesses. These derivative transactions, which involve engaging in market-making activities or acting as an intermediary, are conducted in an effort to help customers manage their market risks. We usually offset our exposure from such derivatives by entering into other financial contracts, such as separate derivative or security transactions. These customer accommodations and any offsetting derivatives are treated as customer accommodation trading and other derivatives in our disclosures. Additionally, embedded derivatives that are required to be accounted for separately from their host contracts are included in the customer accommodation trading and other derivatives disclosures, as applicable. We mention derivative instruments within several other Notes in this Report. For more information on Derivatives, refer to the following areas: • Note 1 – Summary of Significant Accounting Policies • Note 4 – Trading Activities • Note 8 – Equity Securities • Note 10 – Securitizations and Variable Interest Entities • Note 11 – Mortgage Banking Activities • Note 15 – Long-Term Debt • Note 16 – Guarantees, Pledged Assets and Collateral, and Other Commitments • Note 19 – Fair Values of Assets and Liabilities • Note 24 – Income Taxes • Note 26 – Other Comprehensive Income • Note 28 – Parent-Only Financial Statements Table 18.1 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 18.1: Notional or Contractual Amounts and Fair Values of Derivatives December 31, 2019 December 31, 2018 Notional or Fair value Notional or Fair value contractual Derivative Derivative contractual Derivative Derivative (in millions) amount assets liabilities amount assets liabilities Derivatives designated as hedging instruments Interest rate contracts $ 182,789 2,595 1,237 177,511 2,237 636 Foreign exchange contracts 32,386 341 1,170 34,176 573 1,376 Total derivatives designated as qualifying hedging instruments 2,936 2,407 2,810 2,012 Derivatives not designated as hedging instruments Economic hedges: Interest rate contracts 235,810 207 160 173,215 849 369 Equity contracts 19,263 1,126 224 13,920 1,362 79 Foreign exchange contracts 26,595 118 286 19,521 225 80 Credit contracts - protection purchased 1,400 27 — 100 27 — Subtotal 1,478 670 2,463 528 Customer accommodation trading and other derivatives: Interest rate contracts 11,117,542 21,245 17,969 9,162,821 15,349 15,303 Commodity contracts 79,737 1,421 1,770 66,173 1,588 2,336 Equity contracts 272,145 7,410 10,240 217,890 6,183 5,931 Foreign exchange contracts 364,469 4,755 4,791 364,982 5,916 5,657 Credit contracts - protection sold 12,215 12 65 11,741 76 182 Credit contracts - protection purchased 24,030 69 18 20,880 175 98 Subtotal 34,912 34,853 29,287 29,507 Total derivatives not designated as hedging instruments 36,390 35,523 31,750 30,035 Total derivatives before netting 39,326 37,930 34,560 32,047 Netting (25,123 ) (28,851 ) (23,790 ) (23,548 ) Total $ 14,203 9,079 10,770 8,499 Table 18.2 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 $33.7 billion and $33.5 billion of gross derivative assets and liabilities, respectively, at December 31, 2019 , and $30.9 billion and $28.4 billion , respectively, at December 31, 2018 , with counterparties subject to enforceable master netting arrangements that are eligible for balance sheet netting adjustments. The majority of these amounts are interest rate contracts executed in over-the-counter (OTC) markets. The remaining gross derivative assets and liabilities of $5.6 billion and $4.4 billion , respectively, at December 31, 2019 , and $3.7 billion and $3.6 billion , respectively, at December 31, 2018 , 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. Cash collateral receivables and payables that have not been offset against our derivatives were $6.3 billion and $1.4 billion , respectively, at December 31, 2019, and $4.8 billion and $1.4 billion , respectively, at December 31, 2018. 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 18.2 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 OTC markets include bilateral contractual arrangements that are not cleared through a central clearing organization but are typically subject to enforceable master netting arrangements. Other derivative contracts that are settled through a central clearing organization whether OTC or exchange-traded, are excluded from that 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 16 (Guarantees, Pledged Assets and Collateral, and Other Commitments). Table 18.2: 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) Net amounts Percent exchanged in over-the-counter market December 31, 2019 Derivative assets Interest rate contracts $ 24,047 (14,878 ) 9,169 (445 ) 8,724 95 % Commodity contracts 1,421 (888 ) 533 (2 ) 531 80 Equity contracts 8,536 (5,570 ) 2,966 (69 ) 2,897 65 Foreign exchange contracts 5,214 (3,722 ) 1,492 (22 ) 1,470 100 Credit contracts-protection sold 12 (9 ) 3 — 3 84 Credit contracts-protection purchased 96 (56 ) 40 (1 ) 39 97 Total derivative assets $ 39,326 (25,123 ) 14,203 (539 ) 13,664 Derivative liabilities Interest rate contracts $ 19,366 (16,595 ) 2,771 (545 ) 2,226 94 % Commodity contracts 1,770 (677 ) 1,093 (2 ) 1,091 82 Equity contracts 10,464 (6,647 ) 3,817 (319 ) 3,498 81 Foreign exchange contracts 6,247 (4,866 ) 1,381 (169 ) 1,212 100 Credit contracts-protection sold 65 (60 ) 5 (3 ) 2 98 Credit contracts-protection purchased 18 (6 ) 12 — 12 93 Total derivative liabilities $ 37,930 (28,851 ) 9,079 (1,038 ) 8,041 December 31, 2018 Derivative assets Interest rate contracts $ 18,435 (12,029 ) 6,406 (80 ) 6,326 90 % Commodity contracts 1,588 (849 ) 739 (4 ) 735 57 Equity contracts 7,545 (5,318 ) 2,227 (755 ) 1,472 78 Foreign exchange contracts 6,714 (5,355 ) 1,359 (35 ) 1,324 100 Credit contracts-protection sold 76 (73 ) 3 — 3 12 Credit contracts-protection purchased 202 (166 ) 36 (1 ) 35 78 Total derivative assets $ 34,560 (23,790 ) 10,770 (875 ) 9,895 Derivative liabilities Interest rate contracts $ 16,308 (13,152 ) 3,156 (567 ) 2,589 92 % Commodity contracts 2,336 (727 ) 1,609 (8 ) 1,601 85 Equity contracts 6,010 (3,877 ) 2,133 (110 ) 2,023 75 Foreign exchange contracts 7,113 (5,522 ) 1,591 (188 ) 1,403 100 Credit contracts-protection sold 182 (180 ) 2 (2 ) — 67 Credit contracts-protection purchased 98 (90 ) 8 — 8 11 Total derivative liabilities $ 32,047 (23,548 ) 8,499 (875 ) 7,624 (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 related to derivative assets were $231 million and $353 million and debit valuation adjustments related to derivative liabilities were $100 million and $152 million as of December 31, 2019 and 2018 , respectively. Cash collateral totaled $2.9 billion and $6.8 billion , netted against derivative assets and liabilities, respectively, at December 31, 2019 , and $3.7 billion and $3.6 billion , respectively, at December 31, 2018 . Fair Value and Cash Flow Hedges For fair value hedges, we use interest rate swaps to convert certain of our fixed-rate long-term debt and time certificates of deposit to floating rates to hedge our exposure to interest rate risk. We also enter into cross-currency swaps, cross-currency interest rate swaps and forward contracts to hedge our exposure to foreign currency risk and interest rate risk associated with the issuance of non-U.S. dollar denominated long-term debt. In addition, we use interest rate swaps, cross-currency swaps, cross-currency interest rate swaps and forward contracts to hedge against changes in fair value of certain investments in available-for-sale debt securities due to changes in interest rates, foreign currency rates, or both. We also use interest rate swaps to hedge against changes in fair value for certain mortgage loans held for sale. For certain fair value hedges of foreign currency risk, changes in fair value of cross-currency swaps attributable to changes in cross-currency basis spreads are excluded from the assessment of hedge effectiveness and recorded in other comprehensive income. See Note 26 (Other Comprehensive Income) for the amounts recognized in other comprehensive income. For cash flow hedges, we use interest rate swaps to hedge the variability in interest payments received on certain floating-rate commercial loans and paid on certain floating-rate debt due to changes in the contractually specified interest rate. We also use cross-currency swaps to hedge variability in interest payments on fixed-rate foreign currency-denominated long-term debt due to changes in foreign exchange rates. We estimate $221 million pre-tax of deferred net losses related to cash flow hedges in OCI at December 31, 2019 , will be reclassified into net interest income during the next twelve months. The deferred losses expected to be reclassified into net interest income are predominantly related to discontinued hedges of floating rate loans. For cash flow hedges as of December 31, 2019 , we are hedging our foreign currency exposure to the variability of future cash flows for all forecasted transactions for a maximum of 11 years . Table 18.3 and Table 18.4 show the net gains (losses) related to derivatives in fair value and cash flow hedging relationships, respectively. Table 18.3: Gains (Losses) Recognized on Fair Value Hedging Relationships Net interest income Noninterest income Total recorded in net income Total recorded in OCI (in millions) Debt securities Mortgage loans held for sale Deposits Long-term debt Other Derivative gains (losses) Derivative gains (losses) Year Ended December 31, 2019 Total amounts presented in the consolidated statement of income and other comprehensive income $ 14,955 813 (8,635 ) (7,350 ) 3,181 N/A 275 Interest contracts Amounts related to interest settlements on derivatives — 2 58 169 — 229 Recognized on derivatives (2,082 ) 1 463 5,001 — 3,383 — Recognized on hedged items 2,096 (7 ) (442 ) (4,910 ) — (3,263 ) Total gains (losses) (pre-tax) on interest rate contracts 14 (4 ) 79 260 — 349 — Foreign exchange contracts Amounts related to interest settlements on derivatives 35 — — (483 ) — (448 ) Recognized on derivatives (5 ) — — 308 (358 ) (55 ) (3 ) Recognized on hedged items 6 — — (289 ) 350 67 Total gains (losses) (pre-tax) on foreign exchange contracts 36 — — (464 ) (8 ) (436 ) (3 ) Total gains (losses) (pre-tax) recognized on fair value hedges $ 50 (4 ) 79 (204 ) (8 ) (87 ) (3 ) (continued on following page) (continued from previous page) Net interest income Noninterest income Total recorded in net income Total recorded in OCI (in millions) Debt securities Mortgage loans held for sale Deposits Long-term debt Other Derivative gains (losses) Derivative gains (losses) Year ended December 31, 2018 Total amounts presented in the consolidated statement of income and other comprehensive income $ 14,406 777 (5,622 ) (6,703 ) 2,473 N/A (238 ) Interest contracts Amounts related to interest settlements on derivatives (187 ) (3 ) (41 ) 292 — 61 Recognized on derivatives 845 15 27 (1,923 ) — (1,035 ) — Recognized on hedged items (877 ) (22 ) (33 ) 1,843 — 910 Total gains (losses) (pre-tax) on interest rate contracts (219 ) (10 ) (47 ) 212 — (64 ) — Foreign exchange contracts Amounts related to interest settlements on derivatives 33 — — (434 ) — (401 ) Recognized on derivatives 7 — — 135 (1,204 ) (1,062 ) (254 ) Recognized on hedged items (1 ) — — (82 ) 1,114 1,031 Total gains (losses) (pre-tax) on foreign exchange contracts 39 — — (381 ) (90 ) (432 ) (254 ) Total gains (losses) (pre-tax) recognized on fair value hedges $ (180 ) (10 ) (47 ) (169 ) (90 ) (496 ) (254 ) Year ended December 31, 2017 Total amounts presented in the consolidated statement of income and other comprehensive income $ 12,946 786 (3,013 ) (5,157 ) 1,603 N/A (1,083 ) Interest contracts Amounts related to interest settlements on derivatives (469 ) (5 ) 36 1,286 — 847 Recognized on derivatives (43 ) (5 ) (20 ) (912 ) — (979 ) — Recognized on hedged items (52 ) (4 ) 36 938 — 917 Total gains (losses) (pre-tax) on interest rate contracts (564 ) (14 ) 52 1,312 — 785 — Foreign exchange contracts Amounts related to interest settlements on derivatives 14 — — (210 ) — (196 ) Recognized on derivatives 13 — — (230 ) 3,118 2,901 (253 ) Recognized on hedged items (10 ) — — 255 (2,855 ) (2,610 ) Total gains (losses) (pre-tax) on foreign exchange contracts 17 — — (185 ) 263 95 (253 ) Total gains (losses) (pre-tax) recognized on fair value hedges $ (547 ) (14 ) 52 1,127 263 880 (253 ) Table 18.4: Gains (Losses) Recognized on Cash Flow Hedging Relationships Net interest income Total recorded in net income Total recorded in OCI (in millions) Loans Long-term debt Derivative gains (losses) Derivative gains (losses) Year Ended December 31, 2019 Total amounts presented in the consolidated statement of income and other comprehensive income $ 44,146 (7,350 ) N/A 275 Interest rate contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income (291 ) 1 (290 ) 290 Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A — Total gains (losses) (pre-tax) on interest rate contracts (291 ) 1 (290 ) 290 Foreign exchange contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income — (9 ) (9 ) 9 Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A (21 ) Total gains (losses) (pre-tax) on foreign exchange contracts — (9 ) (9 ) (12 ) Total gains (losses) (pre-tax) recognized on cash flow hedges $ (291 ) (8 ) (299 ) 278 Year ended December 31, 2018 Total amounts presented in the consolidated statement of income and other comprehensive income $ 43,974 (6,703 ) N/A (238 ) Interest rate contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income (292 ) 1 (291 ) 291 Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A (266 ) Total gains (losses) (pre-tax) on interest rate contracts (292 ) 1 (291 ) 25 Foreign exchange contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income — (3 ) (3 ) 3 Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A (12 ) Total gains (losses) (pre-tax) on foreign exchange contracts — (3 ) (3 ) (9 ) Total gains (losses) (pre-tax) recognized on cash flow hedges $ (292 ) (2 ) (294 ) 16 Year ended December 31, 2017 Total amounts presented in the consolidated statement of income and other comprehensive income $ 41,388 (5,157 ) N/A (1,083 ) Interest rate contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income 551 (8 ) 543 (543 ) Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A (287 ) Total gains (losses) (pre-tax) on interest rate contracts 551 (8 ) 543 (830 ) Foreign exchange contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income — — — — Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A — Total gains (losses) (pre-tax) on foreign exchange contracts — — — — Total gains (losses) (pre-tax) recognized on cash flow hedges $ 551 (8 ) 543 (830 ) Table 18.5 shows the carrying amount and associated cumulative basis adjustment related to the application of hedge accounting that is included in the carrying amount of hedged assets and liabilities in fair value hedging relationships. Table 18.5: Hedged Items in Fair Value Hedging Relationship Hedged Items Currently Designated Hedged Items No Longer Designated (1) (in millions) Carrying Amount of Assets/(Liabilities) (2)(4) Hedge Accounting Basis Adjustment Assets/(Liabilities) (3) Carrying Amount of Assets/(Liabilities) (4) Hedge Accounting Basis Adjustment December 31, 2019 Available-for-sale debt securities (5) $ 36,896 1,110 9,486 278 Mortgage loans held for sale 961 (12 ) — — Deposits (43,716 ) (324 ) — — Long-term debt (127,423 ) (5,827 ) (25,750 ) 173 December 31, 2018 Available-for-sale debt securities (5) $ 37,857 (157 ) 4,938 238 Mortgage loans held for sale 448 7 — — Deposits (56,535 ) 115 — — Long-term debt (104,341 ) (742 ) (25,539 ) 366 (1) Represents hedged items no longer designated in qualifying fair value hedging relationships for which an associated basis adjustment exists at the balance sheet date. (2) Does not include the carrying amount of hedged items where only foreign currency risk is the designated hedged risk. The carrying amount excluded for debt securities is $1.2 billion and for long-term debt is $(5.2) billion as of December 31, 2019 , and $1.6 billion for debt securities and $(6.3) billion for long-term debt as of December 31, 2018 . (3) The balance includes $790 million and $109 million of debt securities and long-term debt cumulative basis adjustments as of December 31, 2019 , respectively, and $1.4 billion and $66 million of debt securities and long-term debt cumulative basis adjustments as of December 31, 2018 , respectively, on terminated hedges whereby the hedged items have subsequently been re-designated into existing hedges. (4) Represents the full carrying amount of the hedged asset or liability item as of the balance sheet date, except for circumstances in which only a portion of the asset or liability was designated as the hedged item in which case only the portion designated is presented. (5) Carrying amount represents the amortized cost. Derivatives Not Designated as Hedging Instruments Derivatives not designated as hedging instruments include economic hedges and derivatives entered into for customer accommodation trading purposes. We use economic hedge derivatives to manage our exposure to interest rate risk, equity price risk, foreign currency risk, and credit risk. We also use economic hedge derivatives to mitigate the periodic earnings volatility caused by mismatches between the changes in fair value of the hedged item and hedging instrument recognized on our fair value accounting hedges. Mortgage Banking Activities We use economic hedge derivatives in our mortgage banking business to hedge the risk of changes in the fair value of (1) certain residential MSRs measured at fair value, (2) residential MLHFS, (3) derivative loan commitments, and (4) other interests held. The types of derivatives used include swaps, swaptions, constant maturity mortgages, forwards, Eurodollar and Treasury futures and options contracts. Loan commitments for mortgage loans that we intend to sell are considered derivatives. Residential MSRs, derivative loan commitments, certain residential MLHFS, and our economic hedge derivatives are carried at fair value with changes in fair value included in mortgage banking noninterest income. See Note 11 (Mortgage Banking Activities) for additional information on this economic hedging activity and mortgage banking income. Customer Accommodation Trading and Other For customer accommodation trading purposes, we use swaps, futures, forwards, spots and options to assist our customers in managing their own risks, including interest rate, commodity, equity, foreign exchange, and credit contracts. These derivatives are not linked to specific assets and liabilities on the balance sheet or to forecasted transactions in an accounting hedge relationship and, therefore, do not qualify for hedge accounting. We also enter into derivatives for risk management that do not otherwise qualify for hedge accounting. They are carried at fair value with changes in fair value recorded in noninterest income. Customer accommodation trading and other derivatives also include embedded derivatives that are required to be accounted for separately from their host contract. We periodically issue hybrid long-term notes and CDs where the performance of the hybrid instrument note is linked to an equity, commodity or currency index, or basket of such indices. These notes contain explicit terms that affect some or all of the cash flows or the value of the note in a manner similar to a derivative instrument and therefore are considered to contain an “embedded” derivative instrument. The indices on which the performance of the hybrid instrument is calculated are not clearly and closely related to the host debt instrument. The “embedded” derivative is separated from the host contract and accounted for as a derivative. Additionally, we may invest in hybrid instruments that contain embedded derivatives, such as credit derivatives, that are not clearly and closely related to the host contract. In such instances, we either elect fair value option for the hybrid instrument or separate the embedded derivative from the host contract and account for the host contract and derivative separately. Table 18.6 shows the net gains (losses), recognized by income statement lines, related to derivatives not designated as hedging instruments. Table 18.6: Gains (Losses) on Derivatives Not Designated as Hedging Instruments Noninterest income (in millions) Mortgage banking Net gains (losses) from equity securities Net gains (losses) from trading activities Other Total Year ended December 31, 2019 Net gains (losses) recognized on economic hedges derivatives: Interest contracts (1) $ 2,177 — — 1 2,178 Equity contracts — (2,120 ) — (2 ) (2,122 ) Foreign exchange contracts — — — (77 ) (77 ) Credit contracts — — — (5 ) (5 ) Subtotal 2,177 (2,120 ) — (83 ) (26 ) Net gains (losses) recognized on customer accommodation trading and other derivatives: Interest contracts 418 — (95 ) — 323 Commodity contracts — — 164 — 164 Equity contracts — — (4,863 ) (484 ) (5,347 ) Foreign exchange contracts — — 47 — 47 Credit contracts — — (120 ) — (120 ) Subtotal 418 — (4,867 ) (484 ) (4,933 ) Net gains (losses) recognized related to derivatives not designated as hedging instruments $ 2,595 (2,120 ) (4,867 ) (567 ) (4,959 ) (Continued on following page) (continued from previous page) Noninterest income (in millions) Mortgage banking Net gains (losses) from equity securities Net gains (losses) from trading activities Other Total Year ended December 31, 2018 Net gains (losses) recognized on economic hedges derivatives: Interest contracts (1) $ (215 ) — — (15 ) (230 ) Equity contracts — (408 ) — 4 (404 ) Foreign exchange contracts — — — 669 669 Credit contracts — — — — — Subtotal (215 ) (408 ) — 658 35 Net gains (losses) recognized on customer accommodation trading and other derivatives: Interest contracts (352 ) — 446 — 94 Commodity contracts — — 83 — 83 Equity contracts — — 4,499 (403 ) 4,096 Foreign exchange contracts — — 638 — 638 Credit contracts — — 1 — 1 Subtotal (352 ) — 5,667 (403 ) 4,912 Net gains (losses) recognized related to derivatives not designated as hedging instruments $ (567 ) (408 ) 5,667 255 4,947 Year ended December 31, 2017 Net gains (losses) recognized on economic hedges derivatives: Interest contracts (1) $ 448 — — (75 ) 373 Equity contracts — (1,483 ) — 17 (1,466 ) Foreign exchange contracts — — — (866 ) (866 ) Credit contracts — — — 5 5 Subtotal 448 (1,483 ) — (919 ) (1,954 ) Net gains (losses) recognized on customer accommodation trading and other derivatives: Interest contracts 614 — 160 — 774 Commodity contracts — — 178 — 178 Equity contracts — — (3,932 ) 1 (3,931 ) Foreign exchange contracts — — 638 — 638 Credit contracts — — (81 ) — (81 ) Subtotal 614 — (3,037 ) 1 (2,422 ) Net gains (losses) recognized related to derivatives not designated as hedging instruments $ 1,062 (1,483 ) (3,037 ) (918 ) (4,376 ) (1) Mortgage banking amounts for the years ended December 31, 2019 , 2018 and 2017 , are comprised of gains (losses) of $2.3 billion , $(1.1) billion and $413 million , respectively, related to derivatives used as economic hedges of MSRs measured at fair value offset by gains (losses) of $(141) million , $857 million and $35 million , respectively, related to derivatives used as economic hedges of mortgage loans held for sale and derivative loan commitments. 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 purchased credit derivatives and similar products in order to achieve our desired credit risk profile. This credit risk management provides an ability to recover a significant portion of any amounts that would be paid under the sold credit derivatives. We would be required to perform under the 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 18.7 provides details of sold and purchased credit derivatives. Table 18.7: Sold and Purchased Credit Derivatives Notional amount (in millions) Fair value asset 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 December 31, 2019 Credit default swaps on: Corporate bonds $ 8 1 2,855 707 1,885 970 2,447 2020 - 2029 Structured products — 25 74 69 63 11 111 2022 - 2047 Credit protection on: Default swap index 1 — 2,542 120 550 1,992 8,105 2020 - 2029 Commercial mortgage-backed securities index 3 26 322 67 296 26 50 2047 - 2058 Asset-backed securities index — 8 41 41 41 — 1 2045 - 2046 Other — 5 6,381 5,738 — 6,381 11,881 2020 - 2049 Total credit derivatives $ 12 65 12,215 6,742 2,835 9,380 22,595 December 31, 2018 Credit default swaps on: Corporate bonds $ 38 59 2,037 441 1,374 663 1,460 2019 - 2027 Structured products — 62 133 128 121 12 113 2022 - 2047 Credit protection on: Default swap index 37 1 3,618 582 1,998 1,620 2,896 2019 - 2028 Commercial mortgage-backed securities index 1 49 389 109 363 26 51 2047 - 2058 Asset-backed securities index — 9 42 42 42 — 1 2045 - 2046 Other — 2 5,522 5,327 — 5,522 12,561 2018 - 2048 Total credit derivatives $ 76 182 11,741 6,629 3,898 7,843 17,082 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 |
Fair Values of Assets and Liabi
Fair Values of Assets and Liabilities | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Values of Assets and Liabilities | Note 19: 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 19.2 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, write-downs of individual assets or application of the measurement alternative for nonmarketable equity securities. Assets recorded on a nonrecurring basis are presented in Table 19.11 in this Note. Table 19.17 includes estimates of fair value for financial instruments that are not recorded at fair value. FAIR VALUE HIERARCHY We classify our assets and liabilities measured at fair value as either Level 1, Level 2 or Level 3 in the fair value hierarchy. The highest priority (Level 1) is assigned to valuations based on unadjusted quoted prices in active markets and the lowest priority (Level 3) is assigned to valuations based on significant unobservable inputs. See Note 1 (Summary of Significant Accounting Policies) for a detailed description of the fair value hierarchy. In the determination of the classification of financial instruments in Level 2 or Level 3 of the fair value hierarchy, we consider all available information, including observable market data, indications of market liquidity and orderliness, and our understanding of the valuation techniques and significant inputs used. For securities in inactive markets, we use a predetermined percentage to evaluate the impact of fair value adjustments derived from weighting both external and internal indications of value to determine if the instrument is classified as Level 2 or Level 3. Otherwise, the classification of Level 2 or Level 3 is based upon the specific facts and circumstances of each instrument or instrument category and judgments are made regarding the significance of the Level 3 inputs to the instruments’ fair value measurement in its entirety. If Level 3 inputs are considered significant, the instrument is classified as Level 3. We do not classify equity securities 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. Marketable equity securities with published NAVs are classified in the fair value hierarchy. Assets SHORT-TERM FINANCIAL ASSETS Short-term financial assets include cash and due from banks, interest-earning deposits with banks, federal funds sold and securities purchased under resale agreements and due from customers on acceptances (classified in Other Assets). These assets are carried at historical cost. The carrying amount is a reasonable estimate of fair value because of the relatively short time between the origination of the instrument and its expected realization. TRADING DEBT SECURITIES Trading debt securities are recorded at fair value on a recurring basis. These securities are valued using internal trader prices that are subject to price verification procedures. The fair values derived using internal valuation techniques are verified against multiple pricing sources, including prices obtained from third-party pricing services. These services compile prices from various sources and often apply matrix pricing for similar securities when no price is observable. We review pricing methodologies provided by the pricing services in order to determine if observable market information is being used versus unobservable inputs. When evaluating the appropriateness of an internal trader price compared with pricing service prices, considerations include the range and quality of pricing service prices. Pricing service prices are used to ensure the reasonableness of a trader price; however, valuing financial instruments involves judgments acquired from knowledge of a particular market. If a trader asserts that a third party pricing service price is not reflective of market value, justification for using the trader price, including recent sales activity where possible, must be provided to and approved by the appropriate levels of management. AVAILABLE-FOR-SALE AND HELD-TO-MATURITY DEBT SECURITIES AFS debt securities are recorded at fair value on a recurring basis and HTM debt securities are recorded at amortized cost. HTM debt securities are subject to impairment and written down to fair value if fair value declines below amortized cost and we do not expect to recover the entire amortized cost basis of the security. Fair value measurement for AFS and HTM debt securities is based upon various sources of market pricing. Where available, we use quoted prices in active markets. When instruments are traded in secondary markets and quoted market prices do not exist for such securities, we predominantly use prices obtained from third-party pricing services and, to a lesser extent, may use prices obtained from independent broker-dealers (brokers), collectively vendor prices. When vendor prices are deemed inappropriate by a trader who has knowledge of a particular market, vendor prices may be adjusted by weighting them with values from internal models. We also use internal models when no vendor prices are available. Internal models typically use discounted cash flow techniques or pricing models that make adjustments to quoted market prices for similar securities. MORTGAGE LOANS HELD FOR SALE (MLHFS) We carry most of our residential MLHFS portfolio at fair value on a recurring basis. We carry our commercial MLHFS and certain residential MLHFS at LOCOM which may be written down to fair value on a nonrecurring basis. Fair value for both residential and commercial mortgages is based on quoted market prices, where available, or the prices for other mortgage whole loans with similar characteristics. We may use securitization prices that are adjusted for typical securitization activities including servicing value, portfolio composition, market conditions and liquidity. Where market pricing data is not available, we use a discounted cash flow model to estimate fair value. LOANS HELD FOR SALE (LHFS) Loans used in our trading business are recorded at fair value on a recurring basis, and the fair value is based on current offerings in secondary markets for loans with similar characteristics. Loans carried at LOCOM, which are generally consumer loans, are subject to nonrecurring fair value adjustments. Fair value is determined based on pending transactions when available, or estimated using a discounted cash flow model. LOANS Although most loans are recorded at amortized cost, reverse mortgages are recorded at fair value on a recurring basis and are valued using a discounted cash flow model. In addition, we record nonrecurring fair value adjustments to loans carried at amortized cost to reflect partial write-downs that are based on the observable market price of the loan or current appraised value of the collateral. We also provide fair value estimates for loans that are not recorded at fair value on a recurring or nonrecurring basis. The fair value estimates of these loans are differentiated by their financial characteristics, such as product classification, loan category, pricing features and remaining maturity. Prepayment and credit loss estimates are evaluated and used in the valuation process. DERIVATIVES All derivatives are recorded at fair value on a recurring basis. Derivative valuations include the use of available market prices for our exchange-traded derivatives, such as certain interest rate futures and option contracts. However, substantially all of our derivatives are traded in over-the-counter (OTC) markets where quoted market prices are not always readily available. Therefore we value most OTC derivatives using internal valuation techniques. Valuation techniques and inputs to internally-developed models depend on the type of derivative and nature of the underlying rate, price or index upon which the derivative’s value is based. Key inputs can include yield curves, credit curves, foreign exchange rates, prepayment rates, volatility measurements and correlation of such inputs. The classification of derivatives between Level 2 and Level 3 of the fair value hierarchy can be particularly subjective. Examples of derivatives typically classified as Level 2 include generic interest rate swaps, foreign currency swaps, commodity swaps, and certain option and forward contracts. Examples of derivatives classified as Level 3 may include derivative loan commitments written for our mortgage loans that we intend to sell, long-dated equity options where volatility is not observable, credit risk participation swaps, and complex and highly structured derivatives. MORTGAGE SERVICING RIGHTS (MSRs) Residential MSRs are carried at fair value on a recurring basis, and commercial MSRs, which are carried at LOCOM, will be written down to fair value if impaired. MSRs do not trade in an active market with readily observable prices. We determine the fair value of MSRs using a valuation model that estimates the present value of expected future net servicing income. The model incorporates assumptions that market participants use in estimating future net servicing income cash flows, including estimates of prepayment speeds (including housing price volatility for residential MSRs), discount rates, default rates, cost to service (including delinquency and foreclosure costs), escrow account earnings, contractual servicing fee income, ancillary income and late fees. Our valuation approach is validated by our internal valuation model validation group. Changes in the fair value of MSRs reflect the collection/realization of expected cash flows as well as changes in valuation inputs and assumptions. Fair value measurements of our MSRs use significant unobservable inputs and, accordingly, we classify them as Level 3. EQUITY SECURITIES Marketable equity securities and certain nonmarketable equity securities which we have elected to account for under the fair value method are recorded at fair value on a recurring basis. Our remaining nonmarketable equity securities are accounted for using the equity method, cost method or measurement alternative and can be subject to nonrecurring fair value adjustments to record impairment. The carrying value of equity securities accounted for under the measurement alternative are also remeasured to fair value upon the occurrence of orderly observable transactions of the same or similar securities of the same issuer. We use quoted prices to determine the fair value of marketable equity securities as the securities are publicly traded. Quoted prices are typically not available for nonmarketable equity securities. We therefore use other methods, generally market comparable pricing, to determine fair value for such securities. We use all available information in making this determination, which includes observable transaction prices for the same or similar security, third-party pricing service prices, broker quotes, trading multiples of comparable public companies and discounted cash flow models. Where appropriate we make adjustments to observed market data to reflect the comparative differences between the market data and the attributes of our equity security, such as differences with public companies and other investment-specific considerations like liquidity, marketability or differences in terms of the instruments. Substantially all of our nonmarketable equity securities accounted for under the cost method are Federal Reserve Bank stock and Federal Home Loan Bank stock, for which carrying values approximate fair value. FORECLOSED ASSETS Foreclosed assets are carried at net realizable value, which represents fair value less costs to sell. Fair value is generally based upon independent market prices or appraised values of the collateral. Liabilities DEPOSIT AND SHORT-TERM FINANCIAL LIABILITIES Deposit and short-term financial liabilities including federal funds purchased, securities sold under repurchase agreements, commercial paper and other short-term borrowings, are recorded at historical cost. Carrying value is a reasonable estimate of fair value for short-term financial liabilities because of the relatively short time between their origination and expected realization. Fair values for deposits with contractual or defined maturities are estimated using discounted cash flow models. We are not required to estimate fair values for deposits with indeterminate maturities. OTHER LIABILITIES Other liabilities recorded at fair value on a recurring basis predominantly include short sale liabilities. We value these instruments using quoted prices in active markets, where available. When quoted prices for the same instruments are not available or markets are not active, fair values are estimated using recent trades of similar securities. LONG-TERM DEBT Our long-term debt is largely denominated in U.S. dollars and issued with a fixed or floating rate at varying levels of seniority and maturity. The long-term debt is recorded at amortized cost. We utilize third-party pricing service prices, discounted cash flow models, or a combination of the two when estimating fair value of our long-term debt. Level 3 Asset and Liability Valuation Processes We generally determine fair value of our Level 3 assets and liabilities by using internally-developed models and, to a lesser extent, prices obtained from vendors, which predominantly consist of third-party vendor pricing services. Our valuation processes vary depending on which approach is utilized. INTERNAL MODEL VALUATIONS Many of our Level 3 fair value estimates are based on internally-developed models, which typically involve use of discounted cash flow or market comparable pricing techniques. Some of the inputs used in these valuations are unobservable. Unobservable inputs are generally derived from historic performance of similar assets or determined from previous market trades in similar instruments. Unobservable inputs usually include discount rates, default rates, loss severity upon default, volatilities, correlations and prepayment rates. Such unobservable inputs can be correlated to similar portfolios with known historical experience or recent trades where particular unobservable inputs may be implied. We attempt to correlate each unobservable input to historical experience and other third-party data where available. Internal valuation models are subject to review prescribed within our model risk management policies and procedures, which include model validation. Model validation helps ensure our models are appropriate for intended use and appropriate controls exist to help mitigate risk of invalid valuations. Model validation assesses the adequacy and appropriateness of our models, including reviewing its key components, such as inputs, processing components, logic or theory, output results and supporting model documentation. Validation also includes ensuring significant unobservable model inputs are appropriate given observable market transactions or other market data within the same or similar asset classes. We also have ongoing monitoring procedures in place for our Level 3 assets and liabilities that use internal valuation models. These procedures, which are designed to provide reasonable assurance that models continue to perform as expected, include: • ongoing analysis and benchmarking to market transactions and other independent market data (including pricing vendors, if available); • back-testing of modeled fair values to actual realized transactions; and • review of modeled valuation results against expectations, including review of significant or unusual fluctuations in value. We update model inputs and methodologies periodically to reflect these monitoring procedures. Additionally, existing models are subject to periodic reviews and we perform full model revalidations as necessary. All internal valuation models are subject to ongoing review by business-unit-level management, and subject to additional oversight by corporate-level risk management. Corporate oversight responsibilities include evaluating the adequacy of business unit risk management programs, maintaining company-wide model validation policies and standards and reporting the results of these activities to management and our Corporate Model Risk Committee. This committee consists of senior executive management and reports on top model risk issues to the Company’s Risk Committee of the Board. VENDOR-DEVELOPED VALUATIONS We routinely obtain pricing from third-party vendors to value our assets or liabilities. In certain limited circumstances, this includes our Level 3 assets or liabilities. We have processes in place to approve and periodically review third-party vendors to ensure information obtained and valuation techniques used are appropriate. This review may consist of, among other things, obtaining and evaluating control reports issued and pricing methodology materials distributed. We monitor and review vendor prices on an ongoing basis to ensure the fair values are reasonable and in line with market experience in similar asset classes. While the inputs used to determine fair value are not provided by the pricing vendors, and therefore unavailable for our review, we perform one or more of the following procedures to validate the pricing information and determine appropriate classification within the fair value hierarchy: • comparison to other pricing vendors (if available); • variance analysis of prices; • corroboration of pricing by reference to other independent market data, such as market transactions and relevant benchmark indices; • review of pricing by Company personnel familiar with market liquidity and other market-related conditions; and • investigation of prices on a specific instrument-by-instrument basis. Fair Value Measurements from Vendors For certain assets and liabilities, we obtain fair value measurements from vendors and we record the unadjusted fair value in our financial statements. For instruments where we utilize vendor prices to record the price of an instrument, we perform the same procedures and controls as stated in the “Vendor-Developed Valuations” section. Table 19.1 presents unadjusted fair value measurements obtained from third-party pricing services classified within the fair value hierarchy. Unadjusted fair value measurements obtained from brokers and fair value measurements obtained from brokers or third-party pricing services that we have adjusted to determine the fair value are excluded from Table 19.1 . The unadjusted fair value measurements obtained from brokers for AFS debt securities were $45 million in Level 2 assets and $126 million in Level 3 assets at December 31, 2019 , and $45 million and $129 million at December 31, 2018 , respectively. Table 19.1: Fair Value Measurements obtained from Third-Party Pricing Services December 31, 2019 December 31, 2018 (in millions) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Trading debt securities $ 634 329 — 899 256 — Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies 13,460 1,500 — 10,399 2,949 — Securities of U.S. states and political subdivisions — 39,868 34 — 48,377 43 Mortgage-backed securities — 167,172 42 — 160,162 41 Other debt securities (1) — 38,067 650 — 44,292 758 Total available-for-sale debt securities 13,460 246,607 726 10,399 255,780 842 Equity securities: Marketable — 110 — — 158 — Nonmarketable — — — — 1 — Total equity securities — 110 — — 159 — Derivative assets 12 1 — 17 — — Derivative liabilities (11 ) (3 ) — (12 ) — — (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 19.2 presents the balances of assets and liabilities recorded at fair value on a recurring basis. Table 19.2: Fair Value on a Recurring Basis (in millions) Level 1 Level 2 Level 3 Netting (1) Total December 31, 2019 Trading debt securities: Securities of U.S. Treasury and federal agencies $ 32,335 4,382 — — 36,717 Securities of U.S. states and political subdivisions — 2,434 — — 2,434 Collateralized loan obligations — 555 183 — 738 Corporate debt securities — 11,006 38 — 11,044 Mortgage-backed securities — 27,712 — — 27,712 Asset-backed securities — 1,081 — — 1,081 Other trading debt securities — 5 2 — 7 Total trading debt securities 32,335 47,175 223 — 79,733 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies 13,460 1,500 — — 14,960 Securities of U.S. states and political subdivisions — 39,924 413 — 40,337 Mortgage-backed securities: Federal agencies — 162,453 — — 162,453 Residential — 827 — — 827 Commercial — 3,892 42 — 3,934 Total mortgage-backed securities — 167,172 42 — 167,214 Corporate debt securities 37 6,159 367 — 6,563 Collateralized loan and other debt obligations — 29,055 640 — 29,695 Asset-backed securities: Automobile loans and leases — 951 — — 951 Home equity loans — — — — — Other asset-backed securities — 3,635 103 — 3,738 Total asset-backed securities — 4,586 103 — 4,689 Other debt securities — 1 — — 1 Total available-for-sale debt securities 13,497 248,397 1,565 (2) — 263,459 Mortgage loans held for sale — 15,408 1,198 — 16,606 Loans held for sale — 956 16 — 972 Loans — — 171 — 171 Mortgage servicing rights (residential) — — 11,517 — 11,517 Derivative assets: Interest rate contracts 26 23,792 229 — 24,047 Commodity contracts — 1,413 8 — 1,421 Equity contracts 2,946 4,135 1,455 — 8,536 Foreign exchange contracts 12 5,197 5 — 5,214 Credit contracts — 49 59 — 108 Netting — — — (25,123 ) (25,123 ) Total derivative assets 2,984 34,586 1,756 (25,123 ) 14,203 Equity securities - excluding securities at NAV: Marketable 33,702 216 3 — 33,921 Nonmarketable — 22 7,847 — 7,869 Total equity securities 33,702 238 7,850 — 41,790 Total assets included in the fair value hierarchy $ 82,518 346,760 24,296 (25,123 ) 428,451 Equity securities at NAV (3) 146 Total assets recorded at fair value 428,597 Derivative liabilities: Interest rate contracts $ (23 ) (19,328 ) (15 ) — (19,366 ) Commodity contracts — (1,746 ) (24 ) — (1,770 ) Equity contracts (2,011 ) (6,729 ) (1,724 ) — (10,464 ) Foreign exchange contracts (11 ) (6,213 ) (23 ) — (6,247 ) Credit contracts — (53 ) (30 ) — (83 ) Netting — — — 28,851 28,851 Total derivative liabilities (2,045 ) (34,069 ) (1,816 ) 28,851 (9,079 ) Short sale liabilities: Securities of U.S. Treasury and federal agencies (9,035 ) (31 ) — — (9,066 ) Mortgage-backed securities — (2 ) — — (2 ) Corporate debt securities — (5,915 ) — — (5,915 ) Equity securities (2,447 ) — — — (2,447 ) Other securities — — — — — Total short sale liabilities (11,482 ) (5,948 ) — — (17,430 ) Other liabilities — — (2 ) — (2 ) Total liabilities recorded at fair value $ (13,527 ) (40,017 ) (1,818 ) 28,851 (26,511 ) (1) Represents balance sheet netting of derivative asset and liability balances, related cash collateral and portfolio level counterparty valuation adjustments. See Note 18 (Derivatives) for additional information. (2) A significant portion of the balance consists of securities that are 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) Consists of certain nonmarketable equity securities 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 (1) Total December 31, 2018 Trading debt securities: Securities of U.S. Treasury and federal agencies $ 20,525 2,892 — — 23,417 Securities of U.S. states and political subdivisions — 3,272 3 — 3,275 Collateralized loan obligations — 673 237 — 910 Corporate debt securities — 10,723 34 — 10,757 Mortgage-backed securities — 30,715 — — 30,715 Asset-backed securities — 893 — — 893 Other trading debt securities — 6 16 — 22 Total trading debt securities 20,525 49,174 290 — 69,989 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies 10,399 2,949 — — 13,348 Securities of U.S. states and political subdivisions — 48,820 444 — 49,264 Mortgage-backed securities: Federal agencies — 153,203 — — 153,203 Residential — 2,775 — — 2,775 Commercial — 4,184 41 — 4,225 Total mortgage-backed securities — 160,162 41 — 160,203 Corporate debt securities 34 5,867 370 — 6,271 Collateralized loan and other debt obligations — 34,543 800 — 35,343 Asset-backed securities: Automobile loans and leases — 925 — — 925 Home equity loans — 112 — — 112 Other asset-backed securities — 4,056 389 — 4,445 Total asset-backed securities — 5,093 389 — 5,482 Other debt securities — 1 — — 1 Total available-for-sale debt securities 10,433 257,435 2,044 (2) — 269,912 Mortgage loans held for sale — 10,774 997 — 11,771 Loans held for sale — 1,409 60 — 1,469 Loans — — 244 — 244 Mortgage servicing rights (residential) — — 14,649 — 14,649 Derivative assets: Interest rate contracts 46 18,294 95 — 18,435 Commodity contracts — 1,535 53 — 1,588 Equity contracts 1,648 4,582 1,315 — 7,545 Foreign exchange contracts 17 6,689 8 — 6,714 Credit contracts — 179 99 — 278 Netting — — — (23,790 ) (23,790 ) Total derivative assets 1,711 31,279 1,570 (23,790 ) 10,770 Equity securities - excluding securities at NAV: Marketable 23,205 757 — — 23,962 Nonmarketable — 24 5,468 — 5,492 Total equity securities 23,205 781 5,468 — 29,454 Total assets included in the fair value hierarchy $ 55,874 350,852 25,322 (23,790 ) 408,258 Equity securities at NAV (3) 102 Total assets recorded at fair value 408,360 Derivative liabilities: Interest rate contracts $ (21 ) (16,217 ) (70 ) — (16,308 ) Commodity contracts — (2,287 ) (49 ) — (2,336 ) Equity contracts (1,492 ) (3,186 ) (1,332 ) — (6,010 ) Foreign exchange contracts (12 ) (7,067 ) (34 ) — (7,113 ) Credit contracts — (216 ) (64 ) — (280 ) Netting — — — 23,548 23,548 Total derivative liabilities (1,525 ) (28,973 ) (1,549 ) 23,548 (8,499 ) Short sale liabilities: Securities of U.S. Treasury and federal agencies (11,850 ) (411 ) — — (12,261 ) Mortgage-backed securities — (47 ) — — (47 ) Corporate debt securities — (4,505 ) — — (4,505 ) Equity securities (2,902 ) (2 ) — — (2,904 ) Other securities — (3 ) — — (3 ) Total short sale liabilities (14,752 ) (4,968 ) — — (19,720 ) Other liabilities — — (2 ) — (2 ) Total liabilities recorded at fair value $ (16,277 ) (33,941 ) (1,551 ) 23,548 (28,221 ) (1) Represents balance sheet netting of derivative asset and liability balances, related cash collateral and portfolio level counterparty valuation adjustments. See Note 18 (Derivatives) for additional information. (2) A significant portion of the balance consists of securities that are 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) 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. The amounts reported as transfers represent the fair value as of the beginning of the quarter in which the transfer occurred. The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the year ended December 31, 2019 , are presented in Table 19.3 . Table 19.3: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – 2019 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 (2) Transfers out of Level 3 (3) Balance, end of period (4) Year ended December 31, 2019 Trading debt securities: Securities of U.S. states and political subdivisions $ 3 — — (2 ) — (1 ) — — Collateralized loan obligations 237 (30 ) — (22 ) — (2 ) 183 (35 ) Corporate debt securities 34 3 — 6 1 (6 ) 38 5 Other trading debt securities 16 (4 ) — (10 ) — — 2 (1 ) Total trading debt securities 290 (31 ) — (28 ) 1 (9 ) 223 (31 ) (5) Available-for-sale debt securities: Securities of U.S. states and political subdivisions 444 2 2 14 — (49 ) 413 — Mortgage-backed securities: Residential — — — — — — — — Commercial 41 — — (5 ) 6 — 42 — Total mortgage-backed securities 41 — — (5 ) 6 — 42 — Corporate debt securities 370 3 (5 ) (1 ) — — 367 (4 ) Collateralized loan and other debt obligations 800 29 (37 ) (152 ) — — 640 — Asset-backed securities: Other asset-backed securities 389 — — (133 ) — (153 ) 103 — Total asset-backed securities 389 — — (133 ) — (153 ) 103 — Total available-for-sale debt securities 2,044 34 (40 ) (277 ) 6 (202 ) 1,565 (4 ) (6) Mortgage loans held for sale 997 58 — (140 ) 299 (16 ) 1,198 54 (7) Loans held for sale 60 (2 ) — (4 ) 55 (93 ) 16 (3 ) Loans 244 — — (73 ) — — 171 (8 ) (7) Mortgage servicing rights (residential) (8) 14,649 (4,779 ) — 1,647 — — 11,517 (2,569 ) (7) Net derivative assets and liabilities: Interest rate contracts 25 585 — (396 ) — — 214 249 Commodity contracts 4 (203 ) — 158 2 23 (16 ) 9 Equity contracts (17 ) (571 ) — 292 6 21 (269 ) (186 ) Foreign exchange contracts (26 ) 34 — (26 ) — — (18 ) 9 Credit contracts 35 (7 ) — 1 — — 29 (6 ) Total derivative contracts 21 (162 ) — 29 8 44 (60 ) 75 (9) Equity securities: Marketable — — — — 3 — 3 — Nonmarketable 5,468 2,383 — (1 ) 9 (12 ) 7,847 2,386 Total equity securities 5,468 2,383 — (1 ) 12 (12 ) 7,850 2,386 (10) Other liabilities (2 ) — — — — — (2 ) — (7) (1) See Table 19.4 for detail. (2) All assets and liabilities transferred into level 3 were previously classified within level 2. (3) All assets and liabilities transferred out of level 3 are classified as level 2, except for $153 million of asset-backed securities that were transferred to loans during third quarter 2019. (4) 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. (5) Included in net gains (losses) from trading activities in the income statement. (6) Included in net gains (losses) from debt securities in the income statement. (7) Included in mortgage banking and other noninterest income in the income statement. (8) For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities). (9) Included in mortgage banking income, net gains from trading activities and from equity securities, and other noninterest income. (10) Included in net gains (losses) from equity securities in the income statement. Table 19.4 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 year ended December 31, 2019 . Table 19.4: Gross Purchases, Sales, Issuances and Settlements – Level 3 – 2019 (in millions) Purchases Sales Issuances Settlements Net Year ended December 31, 2019 Trading debt securities: Securities of U.S. states and political subdivisions $ — — — (2 ) (2 ) Collateralized loan obligations 372 (372 ) — (22 ) (22 ) Corporate debt securities 19 (13 ) — — 6 Other trading debt securities — — — (10 ) (10 ) Total trading debt securities 391 (385 ) — (34 ) (28 ) Available-for-sale debt se |
Preferred Stock
Preferred Stock | 12 Months Ended |
Dec. 31, 2019 | |
Preferred Stock [Abstract] | |
Preferred Stock | Note 20: 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. In January 2020, we issued $2.0 billion of our Preferred Stock, Series Z. On February 12, 2020, the Company announced a redemption of the remaining outstanding shares of our Preferred Stock, Series K, and a partial redemption of 26,720 outstanding shares of our Preferred Stock, Series T. The redemptions will occur on March 16, 2020. Table 20.1: Preferred Stock Shares December 31, 2019 December 31, 2018 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 I Floating Class A Preferred Stock (1) 100,000 25,010 100,000 25,010 Series K Floating Non-Cumulative Perpetual Class A Preferred Stock (2)(3) 1,000 3,500,000 1,000 3,500,000 Series L 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock (4) 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 Series Y 5.625% Non-Cumulative Perpetual Class A Preferred Stock 25,000 27,600 25,000 27,600 ESOP Cumulative Convertible Preferred Stock (5) — 1,071,418 — 1,406,460 Total 9,251,728 9,586,770 (1) Series I preferred stock issuance relates to trust preferred securities. See Note 10 (Securitizations and Variable Interest Entities) for additional information. This issuance has a floating interest rate that is the greater of three-month LIBOR plus 0.93% and 5.56975%. (2) Floating rate for Preferred Stock, Series K, is three-month LIBOR plus 3.77%. (3) In third quarter 2019, 1,550,000 shares of Preferred Stock, Series K, were redeemed. (4) Preferred Stock, Series L, may be converted at any time, at the option of the holder, into 6.3814 shares of our common stock, plus cash in lieu of fractional shares, subject to anti-dilution adjustments. (5) 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 20.2: Preferred Stock – Shares Issued and Carrying Value December 31, 2019 December 31, 2018 (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)(2) Floating Class A Preferred Stock 25,010 2,501 2,501 — 25,010 2,501 2,501 — Series K (1)(3)(4) Floating Non-Cumulative Perpetual Class A Preferred Stock 1,802,000 1,802 1,546 256 3,352,000 3,352 2,876 476 Series L (1)(5) 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock 3,967,995 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 — Series Y (1) 5.625% Non-Cumulative Perpetual Class A Preferred Stock 27,600 690 690 — 27,600 690 690 — ESOP Cumulative Convertible Preferred Stock 1,071,418 1,072 1,072 — 1,406,460 1,407 1,407 — Total 7,492,169 $ 22,573 21,549 1,024 9,377,216 $ 24,458 23,214 1,244 (1) Preferred shares qualify as Tier 1 capital. (2) Floating rate for Preferred Stock, Series I, is the greater of three-month LIBOR plus 0.93% and 5.56975%. (3) Floating rate for Preferred Stock, Series K, is three-month LIBOR plus 3.77%. (4) In third quarter 2019, 1,550,000 shares of Preferred Stock, Series K, were redeemed. (5) Preferred Stock, Series L, may be converted at any time, at the option of the holder, into 6.3814 shares of our common stock, plus cash in lieu of fractional shares, subject to anti-dilution adjustments. 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 20.3: ESOP Preferred Stock Shares issued and outstanding Carrying value Adjustable dividend rate Dec 31, Dec 31, Dec 31, Dec 31, (in millions, except shares) 2019 2018 2019 2018 Minimum Maximum ESOP Preferred Stock $1,000 liquidation preference per share 2018 254,945 336,945 $ 255 337 7.00 % 8.00 % 2017 192,210 222,210 192 222 7.00 8.00 2016 197,450 233,835 198 234 9.30 10.30 2015 116,784 144,338 117 144 8.90 9.90 2014 136,151 174,151 136 174 8.70 9.70 2013 97,948 133,948 98 134 8.50 9.50 2012 49,134 77,634 49 78 10.00 11.00 2011 26,796 61,796 27 62 9.00 10.00 2010 (1) — 21,603 — 22 9.50 10.50 Total ESOP Preferred Stock (2) 1,071,418 1,406,460 $ 1,072 1,407 Unearned ESOP shares (3) $ (1,143 ) (1,502 ) (1) In April 2019, all of the 2010 ESOP Preferred Stock was converted into common stock. (2) At December 31, 2019 and 2018 , additional paid-in capital included $71 million and $95 million , respectively, related to ESOP preferred stock. (3) 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. |
Common Stock and Stock Plans
Common Stock and Stock Plans | 12 Months Ended |
Dec. 31, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Common Stock and Stock Plans | Note 21: Common Stock and Stock Plans Common Stock Table 21.1 presents our reserved, issued and authorized shares of common stock at December 31, 2019 . Table 21.1: Common Stock Shares Number of shares Dividend reinvestment and common stock purchase plans 6,774,855 Director plans 375,293 Stock plans (1) 488,214,122 Convertible securities and warrants 65,835,437 Total shares reserved 561,199,707 Shares issued 5,481,811,474 Shares not reserved or issued 2,956,988,819 Total shares authorized 9,000,000,000 (1) Includes employee restricted share rights, performance share awards, 401(k), and deferred compensation plans. In connection with our participation in the Capital Purchase Program (CPP), a part of the Troubled Asset Relief Program (TARP), we issued to the U.S. Treasury Department warrants to purchase 110,261,688 shares of our common stock with an original exercise price of $34.01 per share. The warrants expired on October 29, 2018 , and the holders of 110,646 unexercised warrants as of the expiration date are no longer entitled to receive any shares of our common stock. Holders exercised no warrants and 23,217,208 warrants to purchase shares of our common stock in 2019 and 2018 , respectively. Dividend Reinvestment and Common Stock Purchase Plans Participants in our dividend reinvestment and common stock direct purchase plans may purchase shares of our common stock at fair market value by reinvesting dividends and/or making optional cash payments under the plan’s terms. Employee Stock Plans We offer stock-based employee compensation plans as described below. For information on our accounting for stock-based compensation plans, see Note 1 (Summary of Significant Accounting Policies). LONG-TERM INCENTIVE COMPENSATION PLANS Since 2010, we have granted restricted share rights (RSRs) and performance share awards (PSAs) as our primary long-term incentive awards using our Long-Term Incentive Compensation Plan (LTICP). Holders of RSRs and PSAs may be entitled to receive additional RSRs and PSAs (dividend equivalents) or cash payments equal to the cash dividends that would have been paid had the RSRs or PSAs been issued and outstanding shares of common stock. RSRs and PSAs granted as dividend equivalents are subject to the same vesting schedule and conditions as the underlying award. Table 21.2 summarizes the major components of stock incentive compensation expense and the related recognized tax benefit. Table 21.2: Stock Incentive Compensation Expense Year ended December 31, (in millions) 2019 2018 2017 RSRs (1) $ 1,109 1,013 743 Performance shares 108 9 112 Stock options — — (6 ) Total stock incentive compensation expense $ 1,217 1,022 849 Related recognized tax benefit $ 301 252 320 (1) In February 2018, a total of 11.9 million RSRs were granted to all eligible team members in the U.S., and eligible team members outside the U.S., referred to as broad-based RSRs. For various acquisitions and mergers, we converted employee and director stock options of acquired or merged companies into stock options to purchase our common stock based on the terms of the original stock option plan and the agreed-upon exchange ratio. In addition, we converted restricted stock awards into awards that entitle holders to our stock after the vesting conditions are met. Holders receive cash dividends on outstanding awards if provided in the original award. The total number of shares of common stock available for grant under the plans at December 31, 2019 , was 246 million . Director Awards Beginning in 2011, we granted only common stock awards under the LTICP to non-employee directors elected or re-elected at the annual meeting of stockholders and prorated awards to directors who join the Board at any other time. Stock awards vest immediately. Options also were granted to directors prior to 2011 and can be exercised after 12 months through the tenth anniversary of the grant date. Restricted Share Rights Holders of RSRs are entitled to the related shares of common stock at no cost generally vesting over three to five years after the RSRs are granted. A summary of the status of our RSRs at December 31, 2019 , and changes during 2019 is presented in Table 21.3 . Table 21.3: Restricted Share Rights Number Weighted- average grant-date fair value Nonvested at January 1, 2019 45,572,498 $ 54.85 Granted 22,743,879 49.32 Vested (15,281,949 ) 55.03 Canceled or forfeited (2,118,967 ) 55.37 Nonvested at December 31, 2019 50,915,461 52.30 The weighted-average grant date fair value of RSRs granted during 2018 and 2017 was $58.47 and $57.54 , respectively. At December 31, 2019 , there was $1.0 billion of total unrecognized compensation cost related to nonvested RSRs. The cost is expected to be recognized over a weighted-average period of 2.4 years . The total fair value of RSRs that vested during 2019 , 2018 and 2017 was $773 million , $824 million and $865 million , respectively. Performance Share Awards Holders of PSAs are entitled to the related shares of common stock at no cost subject to the Company’s achievement of specified performance criteria over a three-year period. PSAs are granted at a target number based on the Company’s performance. The number of awards that vest can be adjusted downward to zero and upward to a maximum of either 125% or 150% of target. The awards vest in the quarter after the end of the performance period. For PSAs whose performance period ended December 31, 2019 , the determination of the number of performance shares that will vest will occur in first quarter of 2020 after review of the Company’s performance by the Human Resources Committee of the Board. A summary of the status of our PSAs at December 31, 2019 , and changes during 2019 is in Table 21.4 , based on the performance adjustments recognized as of December 2019 . Table 21.4: Performance Share Awards Number Weighted- average grant-date fair value (1) Nonvested at January 1, 2019 5,984,686 $ 49.91 Granted 2,320,530 49.26 Vested (1,610,502 ) 48.59 Canceled or forfeited (190,501 ) 56.48 Nonvested at December 31, 2019 6,504,213 49.81 (1) Reflects approval date fair value for grants subject to variable accounting. The weighted-average grant date fair value of performance awards granted during 2018 and 2017 was $58.62 and $57.14 , respectively. At December 31, 2019 , there was $29 million of total unrecognized compensation cost related to nonvested performance awards. The cost is expected to be recognized over a weighted-average period of 1.6 years . The total fair value of PSAs that vested during 2019 , 2018 and 2017 was $82 million , $107 million and $117 million , respectively. Stock Options Table 21.5 summarizes stock option activity and related information for the stock plans. Options assumed in mergers are included in the activity and related information for Incentive Compensation Plans if originally issued under an employee plan, and in the activity and related information for Director Awards if originally issued under a director plan. Table 21.5: Stock Option Activity Number Weighted- average exercise price Weighted- average remaining contractual term (in yrs.) Aggregate intrinsic value (in millions) Incentive compensation plans Options outstanding as of December 31, 2018 8,343,157 $ 13.46 Canceled or forfeited (170,141 ) 13.05 Exercised (8,112,456 ) 13.34 Options exercisable and outstanding as of December 31, 2019 60,560 30.69 0.3 $ 1 The total intrinsic value to option holders, which is the stock market value in excess of the option exercise price, of options exercised during 2019 , 2018 and 2017 was $291 million , $375 million and $623 million , respectively. Cash received from the exercise of stock options for 2019 , 2018 and 2017 was $108 million , $227 million and $602 million , respectively. We do not have a specific policy on repurchasing shares to satisfy share option exercises. Rather, we have a general policy on repurchasing shares to meet common stock issuance requirements for our benefit plans (including share option exercises), conversion of our convertible securities, acquisitions and other corporate purposes. Various factors determine the amount and timing of our share repurchases, including our capital requirements, the number of shares we expect to issue for acquisitions and employee benefit plans, market conditions (including the trading price of our stock), and regulatory and legal considerations. These factors can change at any time, and there can be no assurance as to the number of shares we will repurchase or when we will repurchase them. Employee Stock Ownership Plan The Wells Fargo & Company 401(k) Plan (401(k) Plan) is a defined contribution plan with an Employee Stock Ownership Plan (ESOP) feature. The ESOP feature enables the 401(k) Plan to borrow money to purchase our preferred or common stock. From 1994 through 2019 , with the exception of 2009, we loaned money to the 401(k) Plan to purchase shares of our ESOP preferred stock. As our employer contributions are made to the 401(k) Plan and are used to make ESOP loan payments, the ESOP preferred stock in the 401(k) Plan is released and converted into our common stock shares. Dividends on the common stock shares allocated as a result of the release and conversion of the ESOP preferred stock reduce retained earnings, and the shares are considered outstanding for computing earnings per share. Dividends on the unallocated ESOP preferred stock do not reduce retained earnings, and the shares are not considered to be common stock equivalents for computing earnings per share. Loan principal and interest payments are made from our employer contributions to the 401(k) Plan, along with dividends paid on the ESOP preferred stock. With each principal and interest payment, a portion of the ESOP preferred stock is released and converted to common stock shares, which are allocated to the 401(k) Plan participants and invested in the Wells Fargo ESOP Fund within the 401(k) Plan. Table 21.6 presents the balance of common stock and unreleased preferred stock held in the Wells Fargo ESOP fund, the fair value of unreleased ESOP preferred stock and the dividends on allocated shares of common stock and unreleased ESOP Preferred Stock paid to the 401(k) Plan. Table 21.6: Common Stock and Unreleased Preferred Stock in the Wells Fargo ESOP Fund Shares outstanding December 31, (in millions, except shares) 2019 2018 2017 Allocated shares (common) 138,978,383 138,182,911 124,670,717 Unreleased shares (preferred) 1,071,418 1,406,460 1,556,104 Fair value of unreleased ESOP preferred shares $ 1,072 1,407 1,556 Dividends paid Year ended December 31, 2019 2018 2017 Allocated shares (common) $ 233 213 195 Unreleased shares (preferred) 101 159 166 |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 12 Months Ended |
Dec. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contracts with Customers | Note 22: Revenue from Contracts with Customers Our revenue includes net interest income on financial instruments and noninterest income. Table 22.1 presents our revenue by operating segment. The “Other” segment for each of the tables below includes the elimination of certain items that are included in more than one business segment, substantially all of which represents products and services for WIM customers served through Community Banking distribution channels. For additional description of our operating segments, including additional financial information and the underlying management accounting process, see Note 27 (Operating Segments). We adopted ASU 2014-09 – Revenue from Contracts with Customers on a modified retrospective basis as of January 1, 2018. For details on the impact of the adoption of this ASU, see Note 1 (Summary of Significant Accounting Policies) in our 2018 Form 10-K. Table 22.1 : Revenue by Operating Segment Year ended December 31, 2019 (in millions) Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated Net interest income (1) $ 27,610 17,699 4,037 (2,115 ) 47,231 Noninterest income: Service charges on deposit accounts 2,823 1,974 16 (15 ) 4,798 Trust and investment fees: Brokerage advisory, commissions and other fees 1,931 292 8,946 (1,932 ) 9,237 Trust and investment management 805 486 2,587 (840 ) 3,038 Investment banking (93 ) 1,889 6 (5 ) 1,797 Total trust and investment fees 2,643 2,667 11,539 (2,777 ) 14,072 Card fees 3,655 359 6 (4 ) 4,016 Other fees: Lending related charges and fees (1)(2) 239 1,139 8 (7 ) 1,379 Cash network fees 452 — — — 452 Commercial real estate brokerage commissions — 358 — — 358 Wire transfer and other remittance fees 274 196 8 (4 ) 474 All other fees (1) 313 108 1 (1 ) 421 Total other fees 1,278 1,801 17 (12 ) 3,084 Mortgage banking (1) 2,307 412 (12 ) 8 2,715 Insurance (1) 44 303 72 (41 ) 378 Net gains (losses) from trading activities (1) 24 915 53 1 993 Net gains (losses) on debt securities (1) 51 89 — — 140 Net gains (losses) from equity securities (1) 2,155 416 272 — 2,843 Lease income (1) — 1,612 — — 1,612 Other income of the segment (1) 2,726 (570 ) 1,341 (316 ) 3,181 Total noninterest income 17,706 9,978 13,304 (3,156 ) 37,832 Revenue $ 45,316 27,677 17,341 (5,271 ) 85,063 Year ended December 31, 2018 Net interest income (1) $ 29,219 18,690 4,441 (2,355 ) 49,995 Noninterest income: Service charges on deposit accounts 2,641 2,074 16 (15 ) 4,716 Trust and investment fees: Brokerage advisory, commissions and other fees 1,887 317 9,161 (1,929 ) 9,436 Trust and investment management 910 445 2,893 (932 ) 3,316 Investment banking (35 ) 1,783 9 — 1,757 Total trust and investment fees 2,762 2,545 12,063 (2,861 ) 14,509 Card fees 3,543 362 6 (4 ) 3,907 Other fees: Lending related charges and fees (1)(2) 278 1,247 7 (6 ) 1,526 Cash network fees 478 3 — — 481 Commercial real estate brokerage commissions — 468 — — 468 Wire transfer and other remittance fees 264 209 8 (4 ) 477 All other fees (1) 339 92 2 (1 ) 432 Total other fees 1,359 2,019 17 (11 ) 3,384 Mortgage banking (1) 2,659 362 (11 ) 7 3,017 Insurance (1) 83 312 82 (48 ) 429 Net gains (losses) from trading activities (1) 28 516 57 1 602 Net gains (losses) on debt securities (1) (3 ) 102 9 — 108 Net gains (losses) from equity securities (1) 1,505 293 (283 ) — 1,515 Lease income (1) — 1,753 — — 1,753 Other income of the segment (1) 3,117 (322 ) (21 ) (301 ) 2,473 Total noninterest income 17,694 10,016 11,935 (3,232 ) 36,413 Revenue $ 46,913 28,706 16,376 (5,587 ) 86,408 (continued on following page) (continued from previous page) Year ended December 31, 2017 Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated Net interest income (1) $ 28,658 18,810 4,641 (2,552 ) 49,557 Noninterest income: Service charges on deposit accounts 2,909 2,201 17 (16 ) 5,111 Trust and investment fees: Brokerage advisory, commissions and other fees 1,830 304 9,072 (1,848 ) 9,358 Trust and investment management 889 523 2,877 (917 ) 3,372 Investment banking (59 ) 1,827 (2 ) (1 ) 1,765 Total trust and investment fees 2,660 2,654 11,947 (2,766 ) 14,495 Card fees 3,613 345 6 (4 ) 3,960 Other fees: Lending related charges and fees (1)(2) 311 1,257 8 (8 ) 1,568 Cash network fees 498 8 — — 506 Commercial real estate brokerage commissions 1 461 — — 462 Wire transfer and other remittance fees 239 204 9 (4 ) 448 All other fees (1) 448 124 1 — 573 Total other fees 1,497 2,054 18 (12 ) 3,557 Mortgage banking (1) 3,895 458 (10 ) 7 4,350 Insurance (1) 139 872 88 (50 ) 1,049 Net gains (losses) from trading activities (1) (251 ) 701 92 — 542 Net gains (losses) on debt securities (1) 709 (232 ) 2 — 479 Net gains (losses) from equity securities (1) 1,455 116 208 — 1,779 Lease income (1) — 1,907 — — 1,907 Other income of the segment (1) 1,734 114 63 (308 ) 1,603 Total noninterest income 18,360 11,190 12,431 (3,149 ) 38,832 Revenue $ 47,018 30,000 17,072 (5,701 ) 88,389 (1) Most of our revenue is not within the scope of Accounting Standards Update (ASU) 2014-09 – Revenue from Contracts with Customers , and additional details are included in other notes to our financial statements. The scope explicitly excludes net interest income as well as many other revenues for financial assets and liabilities, including loans, leases, securities, and derivatives. (2) Represents combined amount of previously reported “Charges and fees on loans” and “Letters of credit fees.” We provide services to customers which have related performance obligations that we complete to recognize revenue. Our revenues are generally recognized either immediately upon the completion of our service or over time as we perform services. Any services performed over time generally require that we render services each period and therefore we measure our progress in completing these services based upon the passage of time. SERVICE CHARGES ON DEPOSIT ACCOUNTS are earned on depository accounts for commercial and consumer customers and include fees for account and overdraft services. Account charges include fees for periodic account maintenance activities and event-driven services such as stop payment fees. Our obligation for event-driven services is satisfied at the time of the event when the service is delivered, while our obligation for maintenance services is satisfied over the course of each month. Our obligation for overdraft services is satisfied at the time of the overdraft. Table 22.2 presents our service charges on deposit accounts by operating segment. Table 22.2 : Service Charges on Deposit Accounts by Operating Segment Year ended December 31, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated Company (in millions) 2019 2018 2017 2019 2018 2017 2019 2018 2017 2019 2018 2017 2019 2018 2017 Overdraft fees $ 1,965 1,776 1,941 5 5 6 1 1 1 — — — 1,971 1,782 1,948 Account charges 858 865 968 1,969 2,069 2,195 15 15 16 (15 ) (15 ) (16 ) 2,827 2,934 3,163 Service charges on deposit accounts $ 2,823 2,641 2,909 1,974 2,074 2,201 16 16 17 (15 ) (15 ) (16 ) 4,798 4,716 5,111 BROKERAGE ADVISORY, COMMISSIONS AND OTHER FEES are earned for providing full-service and discount brokerage services predominantly to retail brokerage clients. These revenues include fees earned on asset-based and transactional accounts and other brokerage advisory services. Asset-based revenues are charged based on the market value of the client’s assets. The services and related obligations associated with certain of these revenues, which include investment advice, active management of client assets, or assistance with selecting and engaging a third-party advisory manager, are generally satisfied over a month or quarter. The remaining revenues include trailing commissions which are earned for selling shares to investors. Our obligation associated with earning trailing commissions is satisfied at the time shares are sold. However, these fees are received and recognized over time during the period the customer owns the shares and we remain the broker of record. The amount of trailing commissions is variable based on the length of time the customer holds the shares and on changes in the value of the underlying assets. Transactional revenues are earned for executing transactions at the client’s direction. Our obligation is generally satisfied upon the execution of the transaction and the fees are based on the size and number of transactions executed. Other revenues earned from other brokerage advisory services include omnibus and networking fees received from mutual fund companies in return for providing record keeping and other administrative services, and annual account maintenance fees charged to customers. Table 22.3 presents our brokerage advisory, commissions and other fees by operating segment. Table 22.3 : Brokerage Advisory, Commissions and Other Fees by Operating Segment Year ended December 31, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated Company (in millions) 2019 2018 2017 2019 2018 2017 2019 2018 2017 2019 2018 2017 2019 2018 2017 Asset-based revenue (1) $ 1,478 1,482 1,372 — 1 1 6,777 6,899 6,630 (1,480 ) (1,484 ) (1,371 ) 6,775 6,898 6,632 Transactional revenue 383 340 382 26 70 40 1,534 1,618 1,802 (383 ) (380 ) (400 ) 1,560 1,648 1,824 Other revenue 70 65 76 266 246 263 635 644 640 (69 ) (65 ) (77 ) 902 890 902 Brokerage advisory, commissions and other fees $ 1,931 1,887 1,830 292 317 304 8,946 9,161 9,072 (1,932 ) (1,929 ) (1,848 ) 9,237 9,436 9,358 (1) We earned trailing commissions of $1.2 billion for the year ended December 31, 2019 and $1.3 billion for both of the years ended December 31, 2018 and 2017 , respectively. TRUST AND INVESTMENT MANAGEMENT FEES are earned for providing trust, investment management and other related services. Investment management services include managing and administering assets, including mutual funds, and institutional separate accounts. Fees for these services are generally determined based on a tiered scale relative to the market value of assets under management (AUM). In addition to AUM, we have client assets under administration (AUA) that earn various administrative fees which are generally based on the extent of the services provided to administer the account. Services with AUM and AUA-based fees are generally performed over time. Trust services include acting as a trustee or agent for corporate trust, personal trust, and agency assets. Obligations for trust services are generally satisfied over time, while obligations for activities that are transactional in nature are satisfied at the time of the transaction. Other related services include the custody and safekeeping of accounts. Our obligation for these services is generally satisfied over time. Table 22.4 presents our trust and investment management fees by operating segment. Table 22.4 : Trust and Investment Management Fees by Operating Segment Year ended December 31, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated Company (in millions) 2019 2018 2017 2019 2018 2017 2019 2018 2017 2019 2018 2017 2019 2018 2017 Investment management fees $ — — 1 — — — 1,990 2,087 2,053 — — — 1,990 2,087 2,054 Trust fees 804 908 887 338 329 421 557 728 757 (840 ) (932 ) (916 ) 859 1,033 1,149 Other revenue 1 2 1 148 116 102 40 78 67 — — (1 ) 189 196 169 Trust and investment management fees $ 805 910 889 486 445 523 2,587 2,893 2,877 (840 ) (932 ) (917 ) 3,038 3,316 3,372 INVESTMENT BANKING FEES are earned for underwriting debt and equity securities, arranging loan syndications and performing other advisory services. Our obligation for these services is generally satisfied at closing of the transaction. Substantially all of these fees are in the Wholesale Banking operating segment. CARD FEES include credit and debit card interchange and network revenues and various card-related fees. Credit and debit card interchange and network revenues are earned on credit and debit card transactions conducted through payment networks such as Visa, MasterCard, and American Express. Our obligation is satisfied concurrently with the delivery of services on a daily basis. Table 22.5 presents our card fees by operating segment. Table 22.5 : Card Fees by Operating Segment Year ended December 31, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated Company (in millions) 2019 2018 2017 2019 2018 2017 2019 2018 2017 2019 2018 2017 2019 2018 2017 Credit card interchange and network revenues (1) $ 809 792 944 359 361 345 6 6 6 (4 ) (4 ) (4 ) 1,170 1,155 1,291 Debit card interchange and network revenues 2,148 2,053 1,964 — — — — — — — — — 2,148 2,053 1,964 Late fees, cash advance fees, balance transfer fees, and annual fees 698 698 705 — 1 — — — — — — — 698 699 705 Card fees $ 3,655 3,543 3,613 359 362 345 6 6 6 (4 ) (4 ) (4 ) 4,016 3,907 3,960 (1) The cost of credit card rewards and rebates of $1.5 billion , $1.4 billion and $1.2 billion for the years ended December 31, 2019 , 2018 and 2017 , respectively, are presented net against the related revenues. CASH NETWORK FEES are earned for processing ATM transactions. Our obligation is completed daily upon settlement of ATM transactions. Substantially all of these fees are in the Community Banking operating segment. COMMERCIAL REAL ESTATE BROKERAGE COMMISSIONS are earned for assisting customers in the sale of real estate property. Our obligation is satisfied upon the successful brokering of a transaction. Fees are based on a fixed percentage of the sales price. All of these fees are in the Wholesale Banking operating segment. In October 2019, we sold our commercial real estate brokerage business (Eastdil). WIRE TRANSFER AND OTHER REMITTANCE FEES consist of fees earned for funds transfer services and issuing cashier’s checks and money orders. Our obligation is satisfied at the time of the funds transfer services or upon issuance of the cashier’s check or money order. Substantially all of these fees are in the Community Banking and Wholesale Banking operating segments. ALL OTHER FEES include various types of fees for products or services such as merchant payment services, safe deposit boxes, and loan syndication agency services. These fees are generally recognized over time as we perform the services. Most of these fees are in the Community Banking operating segment. |
Employee Benefits and Other Exp
Employee Benefits and Other Expenses | 12 Months Ended |
Dec. 31, 2019 | |
Defined Benefit Plan [Abstract] | |
Employee Benefits and Other Expenses | Note 23: Employee Benefits and Other Expenses Pension and Postretirement Plans We sponsor a frozen noncontributory qualified defined benefit retirement plan, 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. Prior to July 1, 2009, eligible employees’ Cash Balance Plan accounts were allocated a compensation credit based on a percentage of their certified compensation; the freeze discontinued the allocation of compensation credits after June 30, 2009. Investment credits continue to be allocated to participants’ accounts based on their accumulated balances. Although not required, we made a $192 million contribution to our Cash Balance Plan in 2019. We do not expect that we will be required to make a contribution to the Cash Balance Plan in 2020 ; however, this is dependent on the finalization of the actuarial valuation in 2020 . Our decision of whether to make a contribution in 2020 will be based on various factors including the actual investment performance of plan assets during 2020 . Given these uncertainties, we cannot estimate at this time the amount, if any, that we will contribute in 2020 to the Cash Balance Plan. For the nonqualified pension plans and postretirement benefit plans, there is no minimum required contribution beyond the amount needed to fund benefit payments. We recognize settlement losses for our Cash Balance Plan based on assessing whether lump sum payments will, in aggregate for the year, exceed the sum of its annual service and interest cost (threshold). Lump sum payments (included in the “Benefits paid” line in Table 23.1) did not exceed this threshold in 2019. Settlement losses of $134 million were recognized in 2018 representing the pro rata portion of the net loss in cumulative other comprehensive income based on the percentage reduction in the Cash Balance Plan’s projected benefit obligation attributable to 2018 lump sum payments. Our nonqualified defined benefit plans are unfunded and provide supplemental defined benefit pension benefits to certain eligible employees. The benefits under these plans were frozen in prior years. We provide health care and life insurance benefits for certain retired employees, and we reserve the right to amend, modify or terminate any of the benefits at any time. The information set forth in the following tables is based on current actuarial reports using the measurement date of December 31 for our pension and postretirement benefit plans. Table 23.1 presents the changes in the benefit obligation and the fair value of plan assets, the funded status, and the amounts recognized on the balance sheet. The increases in the benefit obligation of the qualified plans and nonqualified plans were primarily due to actuarial losses, reflecting a decrease in the discount rates, partially offset by benefits paid. The decrease in the benefit obligation for the other benefit plans was primarily due to benefits paid (net of participant contributions) and net actuarial gains, partially offset by interest cost. Net actuarial gains were primarily due to actual benefit claims being less than projected, partially offset by a decrease in the discount rate. Table 23.1: Changes in Benefit Obligation and Fair Value of Plan Assets December 31, 2019 December 31, 2018 Pension benefits Pension benefits (in millions) Qualified Non- qualified Other benefits Qualified Non- qualified Other benefits Change in benefit obligation: Benefit obligation at beginning of year $ 10,129 557 555 11,110 621 611 Service cost 11 — — 11 — — Interest cost 419 22 23 392 21 21 Plan participants’ contributions — — 44 — — 48 Actuarial loss (gain) 1,229 49 (11 ) (674 ) (27 ) (33 ) Benefits paid (672 ) (57 ) (86 ) (719 ) (57 ) (92 ) Medicare Part D subsidy — — — — — 2 Settlements, Curtailments, and Amendments (2 ) — — 1 — — Other — — — 13 — — Foreign exchange impact 2 1 — (5 ) (1 ) (2 ) Benefit obligation at end of year 11,116 572 525 10,129 557 555 Change in plan assets: Fair value of plan assets at beginning of year 9,477 — 511 10,667 — 565 Actual return on plan assets 1,758 — 64 (478 ) — (17 ) Employer contribution 199 57 7 10 57 5 Plan participants’ contributions — — 44 — — 48 Benefits paid (672 ) (57 ) (86 ) (719 ) (57 ) (92 ) Medicare Part D subsidy — — — — — 2 Settlement (1 ) — — — — — Other — — — 1 — — Foreign exchange impact 2 — — (4 ) — — Fair value of plan assets at end of year 10,763 — 540 9,477 — 511 Funded status at end of year $ (353 ) (572 ) 15 (652 ) (557 ) (44 ) Amounts recognized on the balance sheet at end of year: Assets $ 1 — 44 1 — — Liabilities (354 ) (572 ) (29 ) (653 ) (557 ) (44 ) Table 23.2 provides information for pension and post retirement plans with benefit obligations in excess of plan assets. Table 23.2: Plans with Benefit Obligations in Excess of Plan Assets December 31, 2019 December 31, 2018 (in millions) Pension Benefits Other Benefits Pension Benefits Other Benefits Projected benefit obligation $ 11,653 N/A 10,640 N/A Accumulated benefit obligation 11,634 29 10,627 555 Fair value of plan assets 10,727 — 9,429 511 Table 23.3 presents the components of net periodic benefit cost and other comprehensive income (OCI). Table 23.3: Net Periodic Benefit Cost and Other Comprehensive Income December 31, 2019 December 31, 2018 December 31, 2017 Pension benefits Pension benefits Pension benefits (in millions) Qualified Non- qualified Other benefits Qualified Non- qualified Other benefits Qualified Non- qualified Other benefits Service cost $ 11 — — 11 — — 5 — — Interest cost (1) 419 22 23 392 21 21 412 24 28 Expected return on plan assets (1) (567 ) — (28 ) (641 ) — (31 ) (652 ) — (30 ) Amortization of net actuarial loss (gain) (1) 148 10 (17 ) 131 14 (18 ) 148 11 (9 ) Amortization of prior service credit (1) — — (10 ) — — (10 ) — — (10 ) Settlement loss (1) — 2 — 134 2 — 7 6 — Net periodic benefit cost 11 34 (32 ) 27 37 (38 ) (80 ) 41 (21 ) Other changes in plan assets and benefit obligations recognized in other comprehensive income: Net actuarial loss (gain) 38 49 (47 ) 445 (27 ) 15 33 46 (128 ) Amortization of net actuarial gain (loss) (148 ) (10 ) 17 (131 ) (14 ) 18 (148 ) (11 ) 9 Prior service cost — — — 1 — — 1 — — Amortization of prior service credit — — 10 — — 10 — — 10 Settlement — (2 ) — (134 ) (2 ) — (8 ) (6 ) — Total recognized in other comprehensive income (110 ) 37 (20 ) 181 (43 ) 43 (122 ) 29 (109 ) Total recognized in net periodic benefit cost and other comprehensive income $ (99 ) 71 (52 ) 208 (6 ) 5 (202 ) 70 (130 ) (1) Effective January 1, 2018, we adopted ASU 2017-07 – Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost . Accordingly, 2019 and 2018 balances are reported in other noninterest expense on the consolidated statement of income. For 2017 , these balances were reported in employee benefits. Table 23.4 provides the amounts recognized in cumulative OCI (pre-tax). Table 23.4: Benefits Recognized in Cumulative OCI December 31, 2019 December 31, 2018 Pension benefits Pension benefits (in millions) Qualified Non- qualified Other benefits Qualified Non- qualified Other benefits Net actuarial loss (gain) $ 3,226 186 (357 ) 3,336 149 (327 ) Net prior service cost (credit) 1 — (146 ) 1 — (156 ) Total $ 3,227 186 (503 ) 3,337 149 (483 ) Plan Assumptions For additional information on our pension accounting assumptions, see Note 1 (Summary of Significant Accounting Policies). Table 23.5 presents the weighted-average assumptions used to estimate the projected benefit obligation. Table 23.5: Weighted-Average Assumptions Used to Estimate Projected Benefit Obligation December 31, 2019 December 31, 2018 Pension benefits Pension benefits Qualified Non- qualified Other benefits Qualified Non- qualified Other benefits Discount rate 3.21 % 3.03 3.10 4.30 4.20 4.24 Interest crediting rate 2.70 1.35 N/A 3.22 2.18 N/A Table 23.6 presents the weighted-average assumptions used to determine the net periodic benefit cost. Table 23.6: Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost December 31, 2019 December 31, 2018 December 31, 2017 Pension benefits Pension benefits Pension benefits Qualified Non- qualified Other benefits Qualified Non- qualified Other benefits Qualified Non- qualified Other benefits Discount rate (1) 4.30 % 4.10 4.24 3.65 3.65 3.54 3.98 3.93 4.00 Interest crediting rate (1) 3.22 2.05 N/A 2.74 1.68 N/A 2.92 1.85 N/A Expected return on plan assets 6.24 N/A 5.75 6.24 N/A 5.75 6.70 N/A 5.75 (1) Includes the impact of interim re-measurements as applicable. To account for postretirement health care plans, we used health care cost trend rates to recognize the effect of expected changes in future health care costs due to medical inflation, utilization changes, new technology, regulatory requirements and Medicare cost shifting. In determining the end of year benefit obligation, we assumed an average annual increase of approximately 8.30% for health care costs in 2020 . This rate is assumed to trend down 0.40% - 0.50% per year until the trend rate reaches an ultimate rate of 4.50% in 2028 . The 2019 periodic benefit cost was determined using an initial annual trend rate of 8.40% . This rate was assumed to decrease 0.50% - 0.60% per year until the trend rate reached an ultimate rate of 4.50% in 2026 . Investment Strategy and Asset Allocation We seek to achieve the expected long-term rate of return with a prudent level of risk, given the benefit obligations of the pension plans and their funded status. Our overall investment strategy is designed to provide our Cash Balance Plan with a moderate amount of long-term growth opportunities while ensuring that risk is mitigated through diversification across numerous asset classes and various investment strategies, coupled with an investment strategy for the fixed income assets that is generally designed to approximate the interest rate sensitivity of the Cash Balance Plan’s benefit obligations. As of the end of 2019, the asset allocation for our Cash Balance Plan had a mix range of 20% - 40% equities, 50% - 70% fixed income, and approximately 10% in real estate, private equity and other investments. The Employee Benefit Review Committee (EBRC), which includes several members of senior management, formally reviews the investment risk and performance of our Cash Balance Plan on a quarterly basis. Annual Plan liability analysis and periodic asset/liability evaluations are also conducted. Other benefit plan assets include (1) assets held in a 401(h) trust, which are invested with a target mix of 40% - 60% for both equities and fixed income, and (2) assets held in the Retiree Medical Plan Voluntary Employees’ Beneficiary Association (VEBA) trust, which are predominately invested in fixed income securities and cash. Members of the EBRC formally review the investment risk and performance of these assets on a quarterly basis. Projected Benefit Payments Future benefits that we expect to pay under the pension and other benefit plans are presented in Table 23.7 . Table 23.7: Projected Benefit Payments Pension benefits (in millions) Qualified Non- qualified Other Benefits Year ended December 31, 2020 $ 826 50 42 2021 811 48 42 2022 797 45 41 2023 738 44 40 2024 720 42 38 2025-2029 3,391 187 167 Fair Value of Plan Assets Table 23.8 presents the classification of the fair value of the pension plan and other benefit plan assets in the fair value hierarchy. See Note 19 (Fair Values of Assets and Liabilities) for a description of the fair value hierarchy. Table 23.8: Pension and Other Benefit Plan Assets Carrying value at year end Pension plan assets Other benefits plan assets (in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total December 31, 2019 Cash and cash equivalents $ 3 287 — 290 53 145 — 198 Long duration fixed income (1) 821 5,259 — 6,080 — — — — Intermediate (core) fixed income (2) — 167 — 167 — 177 — 177 High-yield fixed income — 217 — 217 — — — — International fixed income 33 97 — 130 — — — — Domestic large-cap stocks (3) 700 290 — 990 — 73 — 73 Domestic mid-cap stocks 210 113 — 323 — 19 — 19 Domestic small-cap stocks 201 9 — 210 — 11 — 11 Global stocks (4) 92 374 — 466 — — — — International stocks (5) 567 120 — 687 12 22 — 34 Emerging market stocks — 249 — 249 — — — — Real estate 141 35 7 183 — — — — Hedge funds/absolute return 68 50 — 118 — — — — Other 57 48 9 114 4 — 24 28 Plan investments - excluding investments at NAV $ 2,893 7,315 16 10,224 69 447 24 540 Investments at NAV (6) 478 — Net receivables 61 — Total plan assets $ 10,763 540 December 31, 2018 Cash and cash equivalents $ 2 284 — 286 69 22 — 91 Long duration fixed income (1) 902 4,414 — 5,316 — — — — Intermediate (core) fixed income (2) — 118 — 118 — 183 — 183 High-yield fixed income — 114 — 114 — — — — International fixed income 55 186 — 241 — — — — Domestic large-cap stocks (3) 582 238 — 820 — 115 — 115 Domestic mid-cap stocks 167 89 — 256 — 28 — 28 Domestic small-cap stocks 141 7 — 148 — 17 — 17 Global stocks (4) 72 357 — 429 — — — — International stocks (5) 449 110 — 559 9 40 — 49 Emerging market stocks — 205 — 205 — — — — Real estate 148 33 14 195 — — — — Hedge funds/absolute return 63 32 — 95 — — — — Other 34 44 8 86 4 — 24 28 Plan investments - excluding investments at NAV $ 2,615 6,231 22 8,868 82 405 24 511 Investments at NAV (6) 566 — Net receivables 43 — Total plan assets $ 9,477 511 (1) This category includes a diversified mix of assets, which are being managed in accordance with a duration target of approximately 10 years and an emphasis on corporate credit bonds combined with investments in U.S. Treasury securities and other U.S. agency and non-agency bonds. (2) This category includes assets that are intermediate duration, investment grade bonds held in investment strategies benchmarked to the Bloomberg Barclays Capital U.S. Aggregate Bond Index, including U.S. Treasury securities, agency and non-agency asset-backed bonds and corporate bonds. (3) This category covers a broad range of investment styles, including active, enhanced index and passive approaches, as well as style characteristics of value, core and growth emphasized strategies. Assets in this category are currently diversified across eight unique investment strategies with no single investment manager strategy representing more than 2.0% of total plan assets. (4) This category consists of five unique investment strategies providing exposure to broadly diversified, global equity investments, which generally have an allocation of 40 - 60% in U.S. domiciled equities and an equivalent allocation range in non-U.S. equities, with no single strategy representing more than 1.5% of total Plan assets. (5) This category includes assets diversified across four unique investment strategies providing exposure to companies in developed market, non-U.S. countries with no single strategy representing more than 2.5% of total plan assets. (6) Consists of certain 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. Table 23.9 presents the changes in Level 3 pension plan and other benefit plan assets measured at fair value. Table 23.9: Fair Value Level 3 Pension and Other Benefit Plan Assets Balance beginning of year Gains (losses) Purchases, sales and settlements (net) Transfers Into/ (Out of) Level 3 Balance end of year (in millions) Realized Unrealized (1) Quarter ended December 31, 2019 Pension plan assets: Real estate $ 14 1 1 (9 ) — 7 Other 8 — 2 (1 ) — 9 Total pension plan assets $ 22 1 3 (10 ) — 16 Other benefits plan assets: Other $ 24 — — — — 24 Total other benefit plan assets $ 24 — — — — 24 Quarter ended December 31, 2018 Pension plan assets: Real estate $ 20 (2 ) (1 ) (3 ) — 14 Other 8 — — — — 8 Total pension plan assets $ 28 (2 ) (1 ) (3 ) — 22 Other benefits plan assets: Other $ 23 1 — — — 24 Total other benefit plan assets $ 23 1 — — — 24 (1) All unrealized gains (losses) relate to instruments held at period end. VALUATION METHODOLOGIES Following is a description of the valuation methodologies used for assets measured at fair value. Cash and Cash Equivalents – includes investments in collective investment funds valued at fair value based upon the fund’s NAV per share held at year-end. The NAV per share is quoted on a private market that is not active; however, the NAV per share is based on underlying investments traded on an active market. This group of assets also includes investments in registered investment companies valued at the NAV per share held at year-end and in interest-bearing bank accounts. Long Duration, Intermediate (Core), High-Yield, and International Fixed Income – includes investments traded on the secondary markets; prices are measured by using quoted market prices for similar securities, pricing models, and discounted cash flow analyses using significant inputs observable in the market where available, or a combination of multiple valuation techniques. This group of assets also includes highly liquid government securities such as U.S. Treasuries, limited partnerships valued at the NAV, registered investment companies and collective investment funds described above. Domestic, Global, International and Emerging Market Stocks – investments in exchange-traded equity securities are valued at quoted market values. This group of assets also includes investments in registered investment companies and collective investment funds described above. Real Estate – includes investments in real estate, which are valued at fair value based on an income capitalization valuation approach. Market values are estimates, and the actual market price of the real estate can only be determined by negotiation between independent third parties in sales transactions. This group of assets also includes investments in exchange-traded equity securities and collective investment funds described above. Hedge Funds / Absolute Return – includes investments in registered investment companies, and limited partnerships, as described above. Other – insurance contracts that are stated at cash surrender value. This group of assets also includes investments in registered investment companies and collective investment funds described above. The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While we believe our valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. Defined Contribution Retirement Plans We sponsor a qualified defined contribution retirement plan, the Wells Fargo & Company 401(k) Plan (401(k) Plan). Under the 401(k) Plan, after 1 month of service, eligible employees may contribute up to 50% of their certified compensation, subject to statutory limits. Eligible employees who complete one year of service are eligible for quarterly company matching contributions, which are generally dollar for dollar up to 6% of an employee’s eligible certified compensation. Matching contributions are 100% vested. The 401(k) Plan includes an employer discretionary profit sharing contribution feature to allow us to make a contribution to eligible employees’ 401(k) Plan accounts for a plan year. Eligible employees who complete one year of service are eligible for profit sharing contributions. Profit sharing contributions are vested after three years of service. Total defined contribution retirement plan expenses were $1.1 billion in 2019 and $1.2 billion in both 2018 and 2017 . Other Expenses Table 23.10 separately presents other expenses exceeding 1% of the sum of net interest income and total noninterest income in any of the years presented. Table 23.10: Other Expenses Year ended December 31, (in millions) 2019 2018 2017 Operating losses $ 4,321 3,124 5,492 Outside professional services 3,198 3,306 3,813 Contract services (1) 2,489 2,192 1,638 Leases (2) 1,155 1,334 1,351 Advertising and promotion 1,076 857 614 Outside data processing 673 660 891 Other 3,840 4,129 3,789 Total other noninterest expense $ 16,752 15,602 17,588 (1) The amount for 2017 has been revised to conform with the current period presentation whereby temporary help is included in contract services rather than in all other noninterest expense. (2) Represents expenses for assets we lease to customers. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 24: Income Taxes Table 24.1 presents the components of income tax expense. Table 24.1: Income Tax Expense Year ended December 31, (in millions) 2019 2018 2017 Current: Federal $ 5,244 2,382 3,507 State and local 2,005 1,140 561 Non-U.S. 154 170 183 Total current 7,403 3,692 4,251 Deferred: Federal (2,374 ) 1,706 156 State and local (863 ) 236 564 Non-U.S. (9 ) 28 (54 ) Total deferred (3,246 ) 1,970 666 Total $ 4,157 5,662 4,917 The tax effects of our temporary differences that gave rise to significant portions of our deferred tax assets and liabilities are presented in Table 24.2 . Table 24.2: Net Deferred Tax Liability (1) Dec 31, Dec 31, (in millions) 2019 2018 Deferred tax assets Allowance for credit losses $ 2,587 2,644 Deferred compensation and employee benefits 2,969 2,893 Accrued expenses 874 815 PCI loans 69 467 Basis difference in debt securities 690 98 Net unrealized losses on debt securities — 1,022 Net operating loss and tax credit carry forwards 363 366 Other 1,207 1,272 Total deferred tax assets 8,759 9,577 Deferred tax assets valuation allowance (306 ) (315 ) Deferred tax liabilities Mortgage servicing rights (3,080 ) (3,475 ) Leasing (4,413 ) (4,271 ) Basis difference in investments (1,626 ) (1,301 ) Mark to market, net (4,146 ) (7,252 ) Intangible assets (511 ) (427 ) Net unrealized gains on debt securities (504 ) — Insurance reserves (561 ) (696 ) Other (890 ) (831 ) Total deferred tax liabilities (15,731 ) (18,253 ) Net deferred tax liability (2) $ (7,278 ) (8,991 ) (1) Prior period amounts have been revised to conform with the current period presentation. (2) The net deferred tax liability is included in accrued expenses and other liabilities. Deferred taxes related to net unrealized gains (losses) on debt securities, net unrealized gains (losses) on derivatives, foreign currency translation, and employee benefit plan adjustments are recorded in cumulative OCI. In 2018, we reclassified $400 million from cumulative OCI to retained earnings to update amounts to an appropriate tax rate under the Tax Act. See Note 26 (Other Comprehensive Income) for more information. We have determined that a valuation allowance is required for 2019 in the amount of $306 million , predominantly attributable to deferred tax assets in various state and non-U.S. jurisdictions where we believe it is more likely than not that these deferred tax assets will not be realized. In these jurisdictions, carry back limitations, lack of sources of taxable income, and tax planning strategy limitations contributed to our conclusion that the deferred tax assets would not be realizable. We have concluded that it is more likely than not that the remaining deferred tax assets will be realized based on our history of earnings, sources of taxable income in carry back periods, and our ability to implement tax planning strategies. At December 31, 2019 , we had net operating loss carry forwards with related deferred tax assets of $363 million . If these carry forwards are not utilized, they will mostly expire in varying amounts through December 31, 2039 . We do not intend to distribute earnings of certain non-U.S. subsidiaries in a taxable manner, and therefore intend to limit distributions of non-U.S. earnings previously taxed in the U.S., that would qualify for the 100% dividends received deduction, and that would not result in any significant state or non-U.S. taxes. All other undistributed non-U.S. earnings will continue to be permanently reinvested outside the U.S. and the related tax liability on these earnings is insignificant. Table 24.3 reconciles the statutory federal income tax expense and rate to the effective income tax expense and rate. Our effective tax rate is calculated by dividing income tax expense by income before income tax expense less the net income from noncontrolling interests. Table 24.3: Effective Income Tax Expense and Rate December 31, 2019 2018 2017 (in millions) Amount Rate Amount Rate Amount Rate Statutory federal income tax expense and rate $ 4,978 21.0 % $ 5,892 21.0 % $ 9,485 35.0 % Change in tax rate resulting from: State and local taxes on income, net of federal income tax benefit 896 3.8 1,076 3.9 926 3.4 Tax-exempt interest (460 ) (2.0 ) (494 ) (1.8 ) (812 ) (3.0 ) Tax credits (1,715 ) (7.2 ) (1,537 ) (5.5 ) (1,419 ) (5.2 ) Non-deductible accruals 653 2.7 236 0.8 1,320 4.9 Tax reform — — 164 0.6 (3,713 ) (13.7 ) Other (195 ) (0.8 ) 325 1.2 (870 ) (3.3 ) Effective income tax expense and rate $ 4,157 17.5 % $ 5,662 20.2 % $ 4,917 18.1 % All three years include income tax expense related to non-tax-deductible litigation accruals. The 2019 and 2018 effective tax rates reflect the reduction in the U.S. federal statutory income tax rate from 35% to 21% resulting from the Tax Cuts & Jobs Act (Tax Act). The 2018 effective tax rate also reflected the reconsideration of reserves for state income taxes following the U.S. Supreme Court opinion in South Dakota v. Wayfair, Inc. as well as $164 million of income tax expense resulting from the final re-measurement of our initial estimates for the impacts of the Tax Act. The 2017 effective income tax rate included an estimated impact of the Tax Act, including a benefit of $3.9 billion resulting from the re-measurement of the Company’s estimated net deferred tax liability as of December 31, 2017 , partially offset by $173 million of income tax expense for the estimated deemed repatriation of the Company’s previously undistributed non-U.S. earnings. Table 24.4 presents the change in unrecognized tax benefits. Table 24.4: Change in Unrecognized Tax Benefits Year ended December 31, (in millions) 2019 2018 Balance at beginning of year $ 5,750 5,167 Additions: For tax positions related to the current year 123 393 For tax positions related to prior years 91 503 Reductions: For tax positions related to prior years (378 ) (262 ) Lapse of statute of limitations (5 ) (7 ) Settlements with tax authorities (123 ) (44 ) Balance at end of year $ 5,458 5,750 Of the $5.5 billion of unrecognized tax benefits at December 31, 2019 , approximately $3.8 billion would, if recognized, affect the effective tax rate. The remaining $1.7 billion of unrecognized tax benefits relates to income tax positions on temporary differences. We recognize interest and penalties related to unrecognized tax benefits as a component of income tax expense. As of December 31, 2019 and 2018 , we have accrued approximately $998 million and $968 million , respectively, for the payment of interest and penalties. In 2019 , we recognized in income tax expense a net tax expense related to interest and penalties of $35 million . In 2018 , we recognized in income tax expense a net tax expense related to interest and penalties of $200 million . We are subject to U.S. federal income tax as well as income tax in numerous state and non-U.S. jurisdictions. We are routinely examined by tax authorities in these various jurisdictions. The IRS is currently examining the 2015 through 2016 consolidated U.S. federal income tax returns of Wells Fargo & Company and its subsidiaries. In addition, we are currently subject to examination by various state, local and non-U.S. taxing authorities. With few exceptions, Wells Fargo and its subsidiaries are not subject to federal, state, local and non-U.S. income tax examinations for taxable years prior to 2007. We are litigating or appealing various issues related to prior IRS examinations for the periods 2003 through 2014. For the 2003 through 2006 periods, we have paid the IRS the contested income tax and interest associated with these issues and refund claims have been filed for the respective years. It is possible that one or more of these examinations, appeals or litigation may be resolved within the next twelve months resulting in a decrease of up to $1.3 billion |
Earnings Per Common Share
Earnings Per Common Share | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Earnings and Dividends Per Common Share | Note 25: Earnings and Dividends Per Common Share Table 25.1 shows earnings per common share and diluted earnings per common share and reconciles the numerator and denominator of both earnings per common share calculations. See Note 1 (Summary of Significant Accounting Policies) for discussion on share repurchases, and the Consolidated Statement of Changes in Equity and Note 21 (Common Stock and Stock Plans) for information about stock and options activity and terms and conditions of warrants. Table 25.1: Earnings Per Common Share Calculations Year ended December 31, (in millions, except per share amounts) 2019 2018 2017 Wells Fargo net income $ 19,549 22,393 22,183 Less: Preferred stock dividends and other (1) 1,611 1,704 1,629 Wells Fargo net income applicable to common stock (numerator) $ 17,938 20,689 20,554 Earnings per common share Average common shares outstanding (denominator) 4,393.1 4,799.7 4,964.6 Per share $ 4.08 4.31 4.14 Diluted earnings per common share Average common shares outstanding 4,393.1 4,799.7 4,964.6 Add: Stock options (2) 0.8 8.0 17.1 Restricted share rights (2) 31.5 26.3 24.7 Warrants (2) — 4.4 10.9 Diluted average common shares outstanding (denominator) 4,425.4 4,838.4 5,017.3 Per share $ 4.05 4.28 4.10 (1) The years ended December 31, 2019 and December 31, 2018 , includes $220 million and $155 million , respectively, as a result of eliminating the discount on our Series K and Series J Preferred Stock. The Series K Preferred Stock was partially redeemed on September 16, 2019, and the Series J Preferred stock was redeemed on September 17, 2018. (2) Calculated using the treasury stock method. Table 25.2 presents the outstanding Convertible Preferred Stock, Series L, and options to purchase shares of common stock that were anti-dilutive and therefore not included in the calculation of diluted earnings per common share. Table 25.2: Outstanding Anti-Dilutive Securities Weighted-average shares Year ended December 31, (in millions) 2019 2018 2017 Convertible Preferred Stock, Series L (1) 25.3 25.3 25.3 Stock options (2) — 0.3 1.9 (1) Calculated using the if-converted method. (2) Calculated using the treasury stock method. Table 25.3 presents dividends declared per common share. Table 25.3: Dividends Declared Per Common Share Year ended December 31, 2019 2018 2017 Per common share $ 1.92 1.64 1.54 |
Other Comprehensive Income
Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2019 | |
Cumulative Other Comprehensive Income Balances [Abstract] [Abstract] | |
Other Comprehensive Income | Note 26: Other Comprehensive Income Table 26.1 provides the components of other comprehensive income (OCI), reclassifications to net income by income statement line item, and the related tax effects. Table 26.1: Summary of Other Comprehensive Income Year ended December 31, 2019 2018 2017 (in millions) Before tax Tax effect Net of tax Before tax Tax effect Net of tax Before tax Tax effect Net of tax Debt securities (1): Net unrealized gains (losses) arising during the period $ 5,439 (1,337 ) 4,102 (4,493 ) 1,100 (3,393 ) 2,719 (1,056 ) 1,663 Reclassification of net (gains) losses to net income: Interest income on debt securities (2) 263 (65 ) 198 357 (88 ) 269 198 (75 ) 123 Net gains on debt securities (140 ) 34 (106 ) (108 ) 27 (81 ) (479 ) 181 (298 ) Net gains from equity securities (3) — — — — — — (456 ) 172 (284 ) Other noninterest income (1 ) — (1 ) (1 ) — (1 ) — — — Subtotal reclassifications to net income 122 (31 ) 91 248 (61 ) 187 (737 ) 278 (459 ) Net change 5,561 (1,368 ) 4,193 (4,245 ) 1,039 (3,206 ) 1,982 (778 ) 1,204 Derivatives and hedging activities: Fair Value Hedges: Change in fair value of excluded components on fair value hedges (4) (3 ) 1 (2 ) (254 ) 63 (191 ) (253 ) 95 (158 ) Cash Flow Hedges: Net unrealized losses arising during the period on cash flow hedges (21 ) 5 (16 ) (278 ) 67 (211 ) (287 ) 108 (179 ) Reclassification of net (gains) losses to net income: Interest income on loans 291 (72 ) 219 292 (72 ) 220 (551 ) 208 (343 ) Interest expense on long-term debt 8 (2 ) 6 2 — 2 8 (3 ) 5 Subtotal reclassifications to net income 299 (74 ) 225 294 (72 ) 222 (543 ) 205 (338 ) Net change 275 (68 ) 207 (238 ) 58 (180 ) (1,083 ) 408 (675 ) Defined benefit plans adjustments: Net actuarial and prior service gains (losses) arising during the period (40 ) 10 (30 ) (434 ) 106 (328 ) 49 (12 ) 37 Reclassification of amounts to noninterest expense and employee benefits (5): Amortization of net actuarial loss 141 (35 ) 106 127 (31 ) 96 150 (57 ) 93 Settlements and other (8 ) 5 (3 ) 126 (29 ) 97 3 2 5 Subtotal reclassifications to noninterest expense and employee benefits 133 (30 ) 103 253 (60 ) 193 153 (55 ) 98 Net change 93 (20 ) 73 (181 ) 46 (135 ) 202 (67 ) 135 Foreign currency translation adjustments: Net unrealized gains (losses) arising during the period 73 (2 ) 71 (156 ) 1 (155 ) 96 3 99 Net change 73 (2 ) 71 (156 ) 1 (155 ) 96 3 99 Other comprehensive income (loss) $ 6,002 (1,458 ) 4,544 (4,820 ) 1,144 (3,676 ) 1,197 (434 ) 763 Less: Other comprehensive loss from noncontrolling interests, net of tax — (2 ) (62 ) Wells Fargo other comprehensive income (loss), net of tax $ 4,544 (3,674 ) 825 (1) The year ended December 31, 2017, includes net unrealized gains (losses) arising during the period from equity securities of $81 million and reclassification of net (gains) losses to net income related to equity securities of $(456) million . In connection with our adoption in first quarter 2018 of ASU 2016-01 – Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities , the years ended December 31, 2018, and December 31, 2019, reflect net unrealized gains (losses) arising during the period and reclassification of net (gains) losses to net income from only debt securities. (2) 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. (3) Net gains from equity securities is presented for table presentation purposes. After our adoption of ASU 2016-01 – Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities on January 1, 2018, this line will not contain balances as realized and unrealized gains and losses on marketable equity investments will be recorded in earnings. (4) Represents changes in fair value of cross-currency swaps attributable to changes in cross-currency basis spreads, which are excluded from the assessment of hedge effectiveness and recorded in other comprehensive income. (5) Effective January 1, 2018, we adopted ASU 2017-07 – Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost . Accordingly, 2018 and 2019 balances are reclassified to other noninterest expense on the consolidated statement of income. For 2017 these balances were reclassified to employee benefits. Table 26.2 provides the cumulative OCI balance activity on an after-tax basis. Table 26.2: Cumulative OCI Balances (in millions) Debt securities (1) Fair value hedges (2) Cash flow hedges (3) Defined benefit plans adjustments Foreign currency translation adjustments Cumulative other comprehensive income (loss) Balance, December 31, 2016 $ (1,099 ) — 89 (1,943 ) (184 ) (3,137 ) Transition adjustment (4) — 169 (1 ) — — 168 Balance, January 1, 2017 (1,099 ) 169 88 (1,943 ) (184 ) (2,969 ) Net unrealized gains (losses) arising during the period 1,663 (158 ) (179 ) 37 99 1,462 Amounts reclassified from accumulated other comprehensive income (459 ) — (338 ) 98 — (699 ) Net change 1,204 (158 ) (517 ) 135 99 763 Less: Other comprehensive income (loss) from noncontrolling interests (66 ) — — — 4 (62 ) Balance, December 31, 2017 171 11 (429 ) (1,808 ) (89 ) (2,144 ) Transition adjustment (5) (118 ) — — — — (118 ) Balance, January 1, 2018 53 11 (429 ) (1,808 ) (89 ) (2,262 ) Reclassification of certain tax effects to retained earnings (6) 31 2 (89 ) (353 ) 9 (400 ) Net unrealized losses arising during the period (3,393 ) (191 ) (211 ) (328 ) (155 ) (4,278 ) Amounts reclassified from accumulated other comprehensive income 187 — 222 193 — 602 Net change (3,175 ) (189 ) (78 ) (488 ) (146 ) (4,076 ) Less: Other comprehensive loss from noncontrolling interests — — — — (2 ) (2 ) Balance, December 31, 2018 (3,122 ) (178 ) (507 ) (2,296 ) (233 ) (6,336 ) Transition adjustment (7) 481 — — — — 481 Balance, January 1, 2019 (2,641 ) (178 ) (507 ) (2,296 ) (233 ) (5,855 ) Net unrealized gains (losses) arising during the period 4,102 (2 ) (16 ) (30 ) 71 4,125 Amounts reclassified from accumulated other comprehensive income 91 — 225 103 — 419 Net change 4,193 (2 ) 209 73 71 4,544 Less: Other comprehensive income (loss) from noncontrolling interests — — — — — — Balance, December 31, 2019 $ 1,552 (180 ) (298 ) (2,223 ) (162 ) (1,311 ) (1) The year ended December 31, 2017, includes net unrealized gains (losses) arising during the period from equity securities of $81 million and reclassification of net (gains) losses to net income related to equity securities of $(456) million . In connection with our adoption in first quarter 2018 of ASU 2016-01 – Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities , the years ended December 31, 2018, and December 31, 2019, reflect net unrealized gains (losses) arising during the period and reclassification of net (gains) losses to net income from only debt securities. (2) Substantially all of the amounts for fair value hedges are foreign exchange contracts. (3) Substantially all of the amounts for cash flow hedges are foreign exchange contracts for the year-ended December 31, 2019, and interest rate contracts for the years ended December 31, 2018 and 2017. (4) Transition adjustment relates to our adoption of ASU 2017-12 – Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . (5) The transition adjustment relates to our adoption of ASU 2016-01 – Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . (6) Represents the reclassification from other comprehensive income to retained earnings as a result of our adoption of ASU 2018-02 – Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income in third quarter 2018. (7) The transition adjustment relates to our adoption of ASU 2017-08 – Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities . See Note 1 (Summary of Significant Accounting Policies) for more information. |
Operating Segments
Operating Segments | 12 Months Ended |
Dec. 31, 2019 | |
Segment Reporting [Abstract] | |
Operating Segments | Note 27: Operating Segments As of December 31, 2019, we had 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 reporting process. The management reporting process is based on U.S. GAAP with specific adjustments, such as for funds transfer pricing for asset/liability management, for shared revenues and expenses, and tax-equivalent adjustments to consistently reflect income from taxable and tax-exempt sources. The management reporting 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. On February 11, 2020, we announced a new organizational structure with five principal lines of business: Consumer and Small Business Banking; Consumer Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management. The Company is currently in the process of transitioning to this new organizational structure, including identifying leadership for some of these principal business lines and aligning management reporting and allocation methodologies. These changes will not impact the consolidated financial results of the Company, but are expected to result in changes to our operating segments. We will update our operating segment disclosures, including comparative financial results, when the Company completes its transition and is managed in accordance with the new organizational structure. Community Banking offers a complete line of diversified financial products and services for consumers and small businesses with annual sales generally up to $5 million in which the owner generally is the financial decision maker. These financial products and services include checking and savings accounts, credit and debit cards, and automobile, student, mortgage, home equity and small business lending, as well as referrals to Wholesale Banking and WIM business partners. Community Banking serves customers through a complete range of channels, including traditional and in-supermarket and other small format branches, ATMs, digital (online, mobile, and social), and contact centers (phone, email and correspondence). The Community Banking segment also includes the results of our Corporate Treasury activities net of allocations (including funds transfer pricing, capital, liquidity and certain corporate expenses) in support of other segments and results of investments in our affiliated venture capital and private equity partnerships. Wholesale Banking provides financial solutions to businesses with annual sales generally in excess of $5 million and to financial institutions globally. Wholesale Banking provides a complete line of commercial, corporate, capital markets, cash management and real estate banking products and services. These include traditional commercial loans and lines of credit, letters of credit, asset-based lending, equipment leasing, international trade facilities, trade financing, collection services, foreign exchange services, treasury management, institutional fixed-income sales, interest rate, commodity and equity risk management, online/electronic products such as the Commercial Electronic Office ® ( CEO ® ) portal, corporate trust fiduciary and agency services, and investment banking services. Wholesale Banking also supports the CRE market with products and services such as construction loans for commercial and residential development, land acquisition and development loans, secured and unsecured lines of credit, interim financing arrangements for completed structures, rehabilitation loans, affordable housing loans and letters of credit, permanent loans for securitization, and CRE loan servicing. Wealth and Investment Management provides a full range of personalized wealth management, investment and retirement products and services to clients across U.S.-based businesses including Wells Fargo Advisors, The Private Bank, Abbot Downing, and Wells Fargo Asset Management. We deliver financial planning, private banking, credit, investment management and fiduciary services to high-net worth and ultra-high-net worth individuals and families. We also serve clients’ brokerage needs and provide investment management capabilities delivered to global institutional clients through separate accounts and the Wells Fargo Funds. Other 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. Table 27.1 presents our results by operating segment. Table 27.1: Operating Segments (income/expense in millions, average balances in billions) Community Banking Wholesale Banking Wealth and Investment Management Other (1) Consolidated Company 2019 Net interest income (2) $ 27,610 17,699 4,037 (2,115 ) 47,231 Provision (reversal of provision) for credit losses 2,319 378 5 (15 ) 2,687 Noninterest income 17,706 9,978 13,304 (3,156 ) 37,832 Noninterest expense 32,696 15,352 13,709 (3,579 ) 58,178 Income (loss) before income tax expense (benefit) 10,301 11,947 3,627 (1,677 ) 24,198 Income tax expense (benefit) (3) 2,426 1,246 904 (419 ) 4,157 Net income (loss) before noncontrolling interests 7,875 10,701 2,723 (1,258 ) 20,041 Less: Net income (loss) from noncontrolling interests 477 5 10 — 492 Net income (loss) $ 7,398 10,696 2,713 (1,258 ) 19,549 2018 Net interest income (2) $ 29,219 18,690 4,441 (2,355 ) 49,995 Provision (reversal of provision) for credit losses 1,783 (58 ) (5 ) 24 1,744 Noninterest income 17,694 10,016 11,935 (3,232 ) 36,413 Noninterest expense 30,491 16,157 12,938 (3,460 ) 56,126 Income (loss) before income tax expense (benefit) 14,639 12,607 3,443 (2,151 ) 28,538 Income tax expense (benefit) (3) 3,784 1,555 861 (538 ) 5,662 Net income (loss) before noncontrolling interests 10,855 11,052 2,582 (1,613 ) 22,876 Less: Net income (loss) from noncontrolling interests 461 20 2 — 483 Net income (loss) $ 10,394 11,032 2,580 (1,613 ) 22,393 2017 Net interest income (2) $ 28,658 18,810 4,641 (2,552 ) 49,557 Provision (reversal of provision) for credit losses 2,555 (19 ) (5 ) (3 ) 2,528 Noninterest income 18,360 11,190 12,431 (3,149 ) 38,832 Noninterest expense 32,615 16,624 12,623 (3,378 ) 58,484 Income (loss) before income tax expense (benefit) 11,848 13,395 4,454 (2,320 ) 27,377 Income tax expense (benefit) (3) 634 3,496 1,668 (881 ) 4,917 Net income (loss) before noncontrolling interests 11,214 9,899 2,786 (1,439 ) 22,460 Less: Net income (loss) from noncontrolling interests 276 (15 ) 16 — 277 Net income (loss) $ 10,938 9,914 2,770 (1,439 ) 22,183 2019 Average loans $ 459.4 475.3 75.6 (59.3 ) 951.0 Average assets 1,028.4 861.0 84.3 (60.3 ) 1,913.4 Average deposits 782.0 422.5 146.0 (64.2 ) 1,286.3 2018 Average loans 463.7 465.7 74.6 (58.8 ) 945.2 Average assets 1,034.1 830.5 83.9 (59.6 ) 1,888.9 Average deposits 757.2 423.7 165.0 (70.0 ) 1,275.9 (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 WIM 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 as well as interest credits for any funding of a segment available to be provided to other segments. The cost of liabilities includes actual interest expense on segment liabilities as well as funding charges for any funding provided from other segments. (3) Income tax expense (benefit) for our Wholesale Banking operating segment included income tax credits related to low-income housing and renewable energy investments of $1.8 billion , $1.6 billion and $1.4 billion |
Parent-Only Financial Statement
Parent-Only Financial Statements | 12 Months Ended |
Dec. 31, 2019 | |
Condensed Financial Information Disclosure [Abstract] | |
Parent-Only Financial Statements | Note 28: Parent-Only Financial Statements The following tables present Parent-only condensed financial statements. Table 28.1: Parent-Only Statement of Income Year ended December 31, (in millions) 2019 2018 2017 Income Dividends from subsidiaries (1) $ 21,930 22,427 20,746 Interest income from subsidiaries 3,356 3,298 1,984 Other interest income 43 49 146 Other income (162 ) (424 ) 1,238 Total income 25,167 25,350 24,114 Expense Interest expense: Indebtedness to nonbank subsidiaries 664 644 189 Short-term borrowings — 2 — Long-term debt 4,931 4,541 3,595 Other 2 3 5 Noninterest expense 1,327 286 1,888 Total expense 6,924 5,476 5,677 Income before income tax benefit and equity in undistributed income of subsidiaries 18,243 19,874 18,437 Income tax benefit (945 ) (544 ) (319 ) Equity in undistributed income of subsidiaries 361 1,975 3,427 Net income $ 19,549 22,393 22,183 (1) Includes dividends paid from indirect bank subsidiaries of $21.8 billion , $20.8 billion and $17.9 billion in 2019 , 2018 and 2017 , respectively. Table 28.2: Parent-Only Statement of Comprehensive Income Year ended December 31, (in millions) 2019 2018 2017 Net income $ 19,549 22,393 22,183 Other comprehensive income (loss), net of tax: Debt securities (1) (45 ) (12 ) 94 Derivatives and hedging activities (12 ) (198 ) (158 ) Defined benefit plans adjustment 75 (132 ) 118 Equity in other comprehensive income (loss) of subsidiaries 4,526 (3,332 ) 771 Other comprehensive income (loss), net of tax: 4,544 (3,674 ) 825 Total comprehensive income $ 24,093 18,719 23,008 (1) The year ended December 31, 2017 includes net unrealized gains arising during the period from equity securities of $3 million and reclassification of net (gains) to net income related to equity securities of $(21) million . In connection with our adoption in first quarter 2018 of ASU 2016-01 – Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities , the years ended December 31, 2019 and 2018 , reflect net unrealized gains (losses) arising during the period and reclassification of net (gains) losses to net income from only debt securities. Table 28.3: Parent-Only Balance Sheet Dec 31, Dec 31, (in millions) 2019 2018 Assets Cash, cash equivalents, and restricted cash due from: Subsidiary banks $ 14,948 16,301 Nonaffiliates 1 — Debt securities: Available-for-sale, at fair value 1 1 Loans to nonbank subsidiaries 145,383 139,163 Investments in subsidiaries (1) 208,076 202,695 Equity securities 1,007 2,164 Other assets 4,608 4,639 Total assets $ 374,024 364,963 Liabilities and equity Accrued expenses and other liabilities $ 8,050 6,986 Long-term debt 152,628 135,079 Indebtedness to nonbank subsidiaries 26,200 26,732 Total liabilities 186,878 168,797 Stockholders’ equity 187,146 196,166 Total liabilities and equity $ 374,024 364,963 (1) The years ended December 31, 2019 , and December 31, 2018 , include indirect ownership of bank subsidiaries with equity of $170.4 billion and $167.6 billion , respectively. Table 28.4: Parent-Only Statement of Cash Flows Year ended December 31, (in millions) 2019 2018 2017 Cash flows from operating activities: Net cash provided by operating activities $ 27,601 19,024 22,233 Cash flows from investing activities: Available-for-sale debt securities: Proceeds from sales: Subsidiary banks — — 8,658 Nonaffiliates — — 8,824 Prepayments and maturities: Subsidiary banks — — 10,250 Purchases: Subsidiary banks — — (3,900 ) Equity securities, not held for trading: Proceeds from sales and capital returns 326 355 743 Purchases (1,052 ) (220 ) (215 ) Loans: Net advances to subsidiaries (3 ) (7 ) (35,876 ) Capital notes and term loans made to subsidiaries (5,286 ) (2,441 ) (73,729 ) Principal collected on notes/loans made to subsidiaries 1,703 756 69,286 Net decrease (increase) in investment in subsidiaries (384 ) 2,407 (2,029 ) Other, net 22 109 113 Net cash provided (used) by investing activities (4,674 ) 959 (17,875 ) Cash flows from financing activities: Net increase (decrease) in short-term borrowings and indebtedness to subsidiaries (636 ) 12,467 (8,685 ) Long-term debt: Proceeds from issuance 20,369 1,876 22,217 Repayment (8,143 ) (9,162 ) (13,709 ) Preferred stock: Proceeds from issuance — — 677 Redeemed (1,550 ) (2,150 ) — Cash dividends paid (1,391 ) (1,622 ) (1,629 ) Common stock: Proceeds from issuance 380 632 1,211 Stock tendered for payment of withholding taxes (302 ) (331 ) (393 ) Repurchased (24,533 ) (20,633 ) (9,908 ) Cash dividends paid (8,198 ) (7,692 ) (7,480 ) Other, net (275 ) (248 ) (138 ) Net cash used by financing activities (24,279 ) (26,863 ) (17,837 ) Net change in cash, cash equivalents, and restricted cash (1,352 ) (6,880 ) (13,479 ) Cash, cash equivalents, and restricted cash at beginning of year 16,301 23,181 36,660 Cash, cash equivalents, and restricted cash at end of year $ 14,949 16,301 23,181 |
Regulatory and Agency Capital R
Regulatory and Agency Capital Requirements | 12 Months Ended |
Dec. 31, 2019 | |
Banking and Thrift [Abstract] | |
Regulatory and Agency Capital Requirements | Note 29: 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 29.1 presents regulatory capital information for Wells Fargo & Company and the Bank in accordance with the Basel III capital requirements. We must report the lower of our Common Equity Tier 1 (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 Standardized Approach applies assigned risk weights to broad risk categories, while the calculation of risk-weighted assets (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 capital requirements for calculating CET1 and tier 1 capital, along with RWAs, are fully phased-in. However, the requirements for determining tier 2 and total capital are still in accordance with Transition Requirements and are scheduled to be fully phased-in by the end of 2021. Accordingly, the information presented below reflects fully phased-in CET1 capital, tier 1 capital, and RWAs, but reflects total capital still in accordance with Transition Requirements. At December 31, 2019, the Bank and our other insured depository institutions were considered well-capitalized under the requirements of the Federal Deposit Insurance Act. 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 December 31, 2019 , the Bank met these requirements. Table 29.1: Regulatory Capital Information Wells Fargo & Company Wells Fargo Bank, N.A. December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 (in millions, except ratios) Advanced Approach Standardized Approach Advanced Approach Standardized Advanced Approach Standardized Advanced Approach Standardized Regulatory capital: Common equity tier 1 $ 138,760 138,760 146,363 146,363 145,149 145,149 142,685 142,685 Tier 1 158,949 158,949 167,866 167,866 145,149 145,149 142,685 142,685 Total 188,333 196,223 198,798 207,041 158,615 166,056 155,558 163,380 Assets: Risk-weighted assets 1,230,066 1,245,853 1,177,350 1,247,210 1,110,379 1,152,791 1,058,653 1,154,182 Adjusted average assets (1) 1,913,297 1,913,297 1,850,299 1,850,299 1,695,807 1,695,807 1,652,009 1,652,009 Regulatory capital ratios: Common equity tier 1 capital 11.28 % 11.14 * 12.43 11.74 * 13.07 12.59 * 13.48 12.36 * Tier 1 capital 12.92 12.76 * 14.26 13.46 * 13.07 12.59 * 13.48 12.36 * Total capital 15.31 * 15.75 16.89 16.60 * 14.28 * 14.40 14.69 14.16 * Tier 1 leverage (1) 8.31 8.31 9.07 9.07 8.56 8.56 8.64 8.64 Wells Fargo & Company Wells Fargo Bank, N.A. December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 Supplementary leverage: (2) Total leverage exposure $ 2,247,729 2,174,564 2,006,180 1,957,276 Supplementary leverage ratio 7.07 % 7.72 7.24 7.29 *Denotes the lowest capital ratio as determined under the Advanced and Standardized Approaches. (1) The leverage ratio consists of Tier 1 capital divided by total average assets, excluding goodwill and certain other items. (2) The supplementary leverage ratio (SLR) consists of Tier 1 capital divided by total leverage exposure. Total leverage exposure consists of total average assets, less goodwill and other permitted Tier 1 capital deductions (net of deferred tax liabilities), plus certain off-balance sheet exposures. Table 29.2 presents the minimum required regulatory capital ratios under Transition Requirements to which the Company and the Bank were subject as of December 31, 2019 , and December 31, 2018 . Table 29.2: Minimum Required Regulatory Capital Ratios – Transition Requirements (1) Wells Fargo & Company Wells Fargo Bank, N.A. December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 Regulatory capital ratios: Common equity tier 1 capital 9.000 % 7.875 7.000 6.375 Tier 1 capital 10.500 9.375 8.500 7.875 Total capital 12.500 11.375 10.500 9.875 Tier 1 leverage 4.000 4.000 4.000 4.000 Supplementary leverage (2) 5.000 5.000 6.000 6.000 (1) At December 31, 2019 , under transition requirements, the CET1, tier 1 and total capital minimum ratio requirements for Wells Fargo & Company include a capital conservation buffer of 2.500% and a global systemically important bank (G-SIB) surcharge of 2.000% . Only the 2.500% capital conservation buffer applies to the Bank at December 31, 2019 . (2) Wells Fargo & Company is required to maintain a SLR of at least 5.000% (comprised of a 3.000% minimum requirement plus a supplementary leverage buffer of 2.000% ) to avoid restrictions on capital distributions and discretionary bonus payments. The Bank is required to maintain a SLR of at least 6.000% to be considered well-capitalized under applicable regulatory capital adequacy guidelines. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Significant Accounting Policies [Line Items] | |
Business Description and Basis of Presentation | Wells Fargo & Company is a diversified financial services company. We provide banking, investment and mortgage products and services, as well as consumer and commercial finance, through banking locations and offices, the internet and other distribution channels to individuals, businesses and institutions in all 50 states, the District of Columbia, and in countries outside the U.S. 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. |
Use of Estimates | 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 (Note 6 (Loans and Allowance for Credit Losses)); • valuations of residential mortgage servicing rights (MSRs) (Note 10 (Securitizations and Variable Interest Entities) and Note 11 (Mortgage Banking Activities)); • valuations of financial instruments (Note 18 (Derivatives) and Note 19 (Fair Values of Assets and Liabilities)); • liabilities for contingent litigation losses (Note 17 (Legal Actions)); and • income taxes (Note 24 (Income Taxes)). Actual results could differ from those estimates. |
Accounting Standards Adopted in 2019 | Accounting Standards Adopted in 2019 In 2019 , we adopted the following new accounting guidance: • Accounting Standards Update (ASU or Update) 2018-16 – Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes • ASU 2017-08 – Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities • ASU 2016-02 – Leases (Topic 842) and subsequent related Updates, including early adoption of ASU 2019-01 – Leases (Topic 842): Codification Improvements |
Consolidation | Consolidation Our consolidated financial statements include the accounts of the Parent and our subsidiaries in which we have a controlling financial interest. When our consolidated subsidiaries follow specialized industry accounting, that accounting is retained in consolidation. We are also a variable interest holder in certain entities in which equity investors do not have the characteristics of a controlling financial interest or where the entity does not have enough equity at risk to finance its activities without additional subordinated financial support from other parties (collectively referred to as variable interest entities (VIEs)). Our variable interest arises from contractual, ownership or other monetary interests in the entity, which change with fluctuations in the fair value of the entity’s net assets. We consolidate a VIE if we are the primary beneficiary, which is when we have both the power to direct the activities that most significantly impact the VIE and a variable interest that could potentially be significant to the VIE. To determine whether or not a variable interest we hold could potentially be significant to the VIE, we consider both qualitative and quantitative factors regarding the nature, size and form of our involvement with the VIE. We assess whether or not we are the primary beneficiary of a VIE on an ongoing basis. Significant intercompany accounts and transactions are eliminated in consolidation. When we have significant influence over operating and financing decisions for a company but do not own a majority of the voting equity interests, we account for the investment using the equity method of accounting, which requires us to recognize our proportionate share of the company’s earnings. If we do not have significant influence, we account for the equity security under the fair value method, cost method or measurement alternative. |
Cash, Cash Equivalents and Restricted Cash | Cash, Cash Equivalents and Restricted Cash Cash, cash equivalents and restricted cash include cash on hand, cash items in transit, and amounts due from or held with other depository institutions. See Note 3 (Cash, Loan and Dividend Restrictions) for the nature of our restrictions on cash and cash equivalents. |
Securities Purchased and Sold Agreements | Securities Purchased and Sold Agreements Securities purchased under resale agreements and securities sold under repurchase agreements are accounted for as collateralized financing transactions and are recorded at the acquisition or sale price plus accrued interest. We monitor the fair value of securities purchased and sold as well as the collateral pledged and received. Additional collateral is pledged or returned to maintain the appropriate collateral position for the transactions. These financing transactions do not create material credit risk given the collateral provided and the related monitoring process. |
Mortgages Loans and Loans Held for Sale | Mortgage Loans and Loans Held for Sale Mortgage loans held for sale (MLHFS) include commercial and residential mortgages originated for sale in the securitization or whole loan market. We have elected the fair value option for substantially all residential MLHFS (see Note 19 (Fair Values of Assets and Liabilities)). The remaining residential MLHFS are held at the lower of cost or fair value (LOCOM) and are measured on an aggregate portfolio basis. Commercial MLHFS are held at LOCOM and are measured on an individual loan basis. Loans held for sale (LHFS) include commercial loans originated for sale and purchased loans used in market-making activities in our trading business. The loans held for trading purposes are carried at fair value, with the remainder of LHFS recorded at LOCOM. LHFS are measured on an individual loan basis. Gains and losses on MLHFS are generally recorded in mortgage banking noninterest income. Gains and losses on LHFS used in trading activities are recognized in net gains from trading activities. Gains and losses on LHFS not used in trading activities are recognized in other noninterest income. Direct loan origination costs and fees for MLHFS and LHFS under the fair value option are recognized in earnings at origination. For MLHFS and LHFS recorded at LOCOM, loan costs and fees are deferred at origination and are recognized in earnings at time of sale. Interest income on MLHFS and LHFS is calculated based upon the note rate of the loan and is recorded in interest income. Our lines of business are authorized to originate held-for-investment loans that meet or exceed established loan product profitability criteria, including minimum positive net interest margin spreads in excess of funding costs. When a determination is made at the time of commitment to originate loans as held for investment, it is our intent to hold these loans to maturity or for the “foreseeable future,” subject to periodic review under our management evaluation processes, including corporate asset/liability management. In determining the “foreseeable future” for loans, management considers (1) the current economic environment and market conditions, (2) our business strategy and current business plans, (3) the nature and type of the loan receivable, including its expected life, and (4) our current financial condition and liquidity demands. If subsequent changes, including changes in interest rates, significantly impact the ongoing profitability of certain loan products, we may subsequently change our intent to hold these loans, and we would take actions to sell such loans. Upon such management determination, we immediately transfer these loans to the MLHFS or LHFS portfolio at LOCOM. |
Loans | Loans Loans are reported at their outstanding principal balances net of any unearned income, cumulative charge-offs, unamortized deferred fees and costs on originated loans and unamortized premiums or discounts on purchased loans. Purchased credit-impaired (PCI) loans are reported net of any remaining purchase accounting adjustments. See the “Purchased Credit-Impaired Loans” section in this Note for our accounting policy for PCI loans. Unearned income, deferred fees and costs, and discounts and premiums are amortized to interest income over the contractual life of the loan using the effective interest method. Loan commitment fees are generally deferred and amortized into noninterest income on a straight-line basis over the commitment period. Loans also include financing leases where we are the lessor. See the “Leasing Activity” section in this Note for our accounting policy for leases. NONACCRUAL AND PAST DUE LOANS We generally place loans on nonaccrual status when: • the full and timely collection of interest or principal becomes uncertain (generally based on an assessment of the borrower’s financial condition and the adequacy of collateral, if any), such as in bankruptcy or other circumstances; • they are 90 days ( 120 days with respect to real estate 1-4 family mortgages) past due for interest or principal, unless both well-secured and in the process of collection; • part of the principal balance has been charged off; or • for junior lien mortgages, we have evidence that the related first lien mortgage may be 120 days past due or in the process of foreclosure regardless of the junior lien delinquency status. Credit card loans are not placed on nonaccrual status, but are generally fully charged off when the loan reaches 180 days past due. PCI loans are written down at acquisition to fair value using an estimate of cash flows deemed to be collectible and an accretable yield is established. Accordingly, such loans are not classified as nonaccrual because they continue to earn interest from accretable yield, independent of performance in accordance of their contractual terms, and we expect to fully collect the new carrying values of such loans (that is, the new cost basis arising out of purchase accounting). When we place a loan on nonaccrual status, we reverse the accrued unpaid interest receivable against interest income and suspend amortization of any net deferred fees. If the ultimate collectability of the recorded loan balance is in doubt on a nonaccrual loan, the cost recovery method is used and cash collected is applied to first reduce the carrying value of the loan. Otherwise, interest income may be recognized to the extent cash is received. Generally, we return a loan to accrual status when all delinquent interest and principal become current under the terms of the loan agreement and collectability of remaining principal and interest is no longer doubtful. We typically re-underwrite modified loans at the time of a restructuring to determine if there is sufficient evidence of sustained repayment capacity based on the borrower’s financial strength, including documented income, debt to income ratios and other factors. If the borrower has demonstrated performance under the previous terms and the underwriting process shows the capacity to continue to perform under the restructured terms, the loan will generally remain in accruing status. When a loan classified as a troubled debt restructuring (TDR) performs in accordance with its modified terms, the loan either continues to accrue interest (for performing loans) or will return to accrual status after the borrower demonstrates a sustained period of performance (generally six consecutive months of payments, or equivalent, inclusive of consecutive payments made prior to the modification). Loans will be placed on nonaccrual status and a corresponding charge-off is recorded if we believe it is probable that principal and interest contractually due under the modified terms of the agreement will not be collectible. Our loans are considered past due when contractually required principal or interest payments have not been made on the due dates. LOAN CHARGE-OFF POLICIES For commercial loans, we generally fully charge off or charge down to net realizable value (fair value of collateral, less estimated costs to sell) for loans secured by collateral when: • management judges the loan to be uncollectible; • repayment is deemed to be protracted beyond reasonable time frames; • the loan has been classified as a loss by either our internal loan review process or our banking regulatory agencies; • the customer has filed bankruptcy and the loss becomes evident owing to a lack of assets; or • the loan is 180 days past due unless both well-secured and in the process of collection. For consumer loans, we fully charge off or charge down to net realizable value when deemed uncollectible due to bankruptcy or other factors, or no later than reaching a defined number of days past due, as follows: • Real estate 1-4 family mortgages – We generally charge down to net realizable value when the loan is 180 days past due. • Automobile loans – We generally fully charge off when the loan is 120 days past due. • Credit card loans – We generally fully charge off when the loan is 180 days past due. • Unsecured loans (closed end) – We generally fully charge off when the loan is 120 days past due. • Unsecured loans (open end) – We generally fully charge off when the loan is 180 days past due. • Other secured loans – We generally fully or partially charge down to net realizable value when the loan is 120 days past due. IMPAIRED LOANS We consider a loan to be impaired when, based on current information and events, we determine that we will not be able to collect all amounts due according to the loan contract, including scheduled interest payments. This evaluation is generally based on delinquency information, an assessment of the borrower’s financial condition and the adequacy of collateral, if any. 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. When we identify a loan as impaired, we generally measure the impairment, if any, based on the difference between the recorded investment in the loan (net of previous charge-offs, deferred loan fees or costs and unamortized premium or discount) and the present value of expected future cash flows, discounted at the loan’s pre-modification effective interest rate. When the value of an impaired loan is calculated by discounting expected cash flows, interest income is recognized using the loan’s pre-modification effective interest rate over the remaining life of the loan. When collateral is the sole source of repayment for the impaired loan, rather than the borrower’s income or other sources of repayment, we charge down to net realizable value. TROUBLED DEBT RESTRUCTURINGS In situations where, 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 the borrower that we would not otherwise consider, the related loan is classified as a TDR. These modified terms may include interest rate reductions, principal forgiveness, term extensions, payment forbearance and other actions intended to minimize our economic loss and to avoid foreclosure or repossession of the collateral, if applicable. For modifications where we forgive principal, the entire amount of such principal forgiveness is immediately charged off. Loans classified as TDRs, including loans in trial payment periods (trial modifications), are considered impaired loans. Other than resolutions such as foreclosures, sales and transfers to held-for-sale, we may remove loans held for investment from TDR classification, but only if they have been refinanced or restructured at market terms and qualify as a new loan. PURCHASED CREDIT-IMPAIRED LOANS Loans acquired with evidence of credit deterioration since their origination and where it is probable that we will not collect all contractually required principal and interest payments are PCI loans. PCI loans are recorded at fair value at the date of acquisition, and the historical allowance for credit losses related to these loans is not carried over. Fair value at date of acquisition is generally determined using a discounted cash flow method and any excess cash flow expected to be collected over the carrying value (estimated fair value at acquisition date) is referred to as the accretable yield and is recognized in interest income using an effective yield method over the remaining life of the loan, or pool of loans if aggregated based on common risk characteristics. The difference between contractually required payments and the cash flows expected to be collected at acquisition, considering the impact of prepayments, is referred to as the nonaccretable difference. Based on quarterly evaluations of remaining cash flows expected to be collected, expected decreases may result in recording a provision for loss and expected increases may result in a prospective yield adjustment after first reversing any allowance for losses related to the loan, or pool of loans. Resolutions of loans may include sales of loans to third parties, receipt of payments in settlement with the borrower, or foreclosure of the collateral. For individual PCI loans, gains or losses on sales to third parties are included in other noninterest income, and gains or losses as a result of a settlement with the borrower are included in interest income. Our policy is to remove an individual loan from a pool based on comparing the amount received from its resolution with its contractual amount. Any difference between these amounts is absorbed by the nonaccretable difference for the entire pool, which assumes that the amount received from resolution approximates pool performance expectations. Any material change in remaining effective yield caused by this removal method is addressed by our quarterly cash flow evaluation process for each pool. We may also sell groups of loans from a pool and include any gains or losses on sales to third parties in other noninterest income. Any difference between the amount received from the buyer and the contractual amount due from the customer is absorbed by the nonaccretable difference for the entire pool. We maintain the effective yield for the remaining loans in the pool consistent with the yield immediately prior to the sale. Modified PCI loans are not removed from a pool even if those loans would otherwise be deemed TDRs. Modified PCI loans that are accounted for individually are considered TDRs and removed from PCI accounting if there has been a concession granted in excess of the original nonaccretable difference. We include these TDRs in our impaired loans. FORECLOSED ASSETS Foreclosed assets obtained through our lending activities primarily include real estate. Generally, loans have been written down to their net realizable value prior to foreclosure. Any further reduction to their net realizable value is recorded with a charge to the allowance for credit losses at foreclosure. We allow up to 90 days after foreclosure to finalize determination of net realizable value. Thereafter, changes in net realizable value are recorded to noninterest expense. The net realizable value of these assets is reviewed and updated periodically depending on the type of property. Certain government-guaranteed mortgage loans upon foreclosure are included in accounts receivable, not foreclosed assets. These receivables were loans insured by the FHA or guaranteed by the VA and are measured based on the balance expected to be recovered from the FHA or VA. ALLOWANCE FOR CREDIT LOSSES The allowance for credit losses (ACL) is management’s estimate of credit losses inherent in the loan portfolio, including unfunded credit commitments, at the balance sheet date. We have an established process to determine the appropriateness of the ACL that assesses the losses inherent in our portfolio and related unfunded credit commitments. We develop and document our ACL methodology at the portfolio segment level – commercial loan portfolio and consumer loan portfolio. While we attribute portions of the ACL to our respective commercial and consumer portfolio segments, the entire ACL is available to absorb credit losses inherent in the total loan portfolio and unfunded credit commitments. Our process involves procedures to appropriately consider the unique risk characteristics of our commercial and consumer loan portfolio segments. For each portfolio segment, losses are estimated collectively for groups of loans with similar characteristics, individually or pooled for impaired loans or, for PCI loans, based on the changes in cash flows expected to be collected. Our ACL amounts are influenced by loan volumes, loan grade migration or delinquency status, historic loss experience and other conditions influencing loss expectations, such as economic conditions. Commercial Portfolio Segment ACL Methodology Generally, commercial loans are assessed for estimated losses by grading each loan using various risk factors as identified through periodic reviews. Our estimation approach for the commercial portfolio reflects the estimated probability of default in accordance with the borrower’s financial strength and the severity of loss in the event of default, considering the quality of any underlying collateral. Probability of default and severity at the time of default are statistically derived through historical observations of default and losses after default within each credit risk rating. These estimates are adjusted as appropriate based on additional analysis of long-term average loss experience compared to previously forecasted losses, external loss data or other risks identified from current economic conditions and credit quality trends. The estimated probability of default and severity at the time of default are applied to loan equivalent exposures to estimate losses for unfunded credit commitments. The ACL also includes an amount for the estimated impairment on nonaccrual commercial loans and commercial loans modified in a TDR, whether on accrual or nonaccrual status. Consumer Portfolio Segment ACL Methodology For consumer loans that are not identified as a TDR, we generally determine the ACL on a collective basis utilizing forecasted losses to represent our best estimate of inherent loss. We pool loans, generally by product types with similar risk characteristics, such as residential real estate mortgages and credit cards. As appropriate and to achieve greater accuracy, we may further stratify selected portfolios by sub-product, origination channel, vintage, loss type, geographic location and other predictive characteristics. Models designed for each pool are utilized to develop the loss estimates. We use assumptions for these pools in our forecast models, such as historic delinquency and default, loss severity, home price trends, unemployment trends, and other key economic variables that may influence the frequency and severity of losses in the pool. We separately estimate impairment for consumer loans that have been modified in a TDR (including trial modifications), whether on accrual or nonaccrual status. Other ACL Matters The ACL for both portfolio segments includes an amount for imprecision or uncertainty that may change from period to period. This amount represents management’s judgment of risks inherent in the processes and assumptions used in establishing the ACL. This imprecision considers economic environmental factors, modeling assumptions and performance, process risk, and other subjective factors, including industry trends and emerging risk assessments. |
Leasing Activity, As a Lessor | AS LESSOR We lease equipment to our customers under financing or operating leases. Financing leases are presented in loans and are recorded at the discounted amounts of lease payments receivable plus the estimated residual value of the leased asset. Leveraged leases, which are a form of financing leases, are reduced by related non-recourse debt from third-party investors. Lease payments receivable reflect contractual lease payments adjusted for renewal or termination options that we believe the customer is reasonably certain to exercise. The residual value reflects our best estimate of the expected sales price for the equipment at lease termination based on sales history adjusted for recent trends in the expected exit markets. Many of our leases allow the customer to extend the lease at prevailing market terms or purchase the asset for fair value at lease termination. Our allowance for loan losses for financing leases considers both the collectability of the lease payments receivable as well as the estimated residual value of the leased asset. We typically purchase residual value insurance on our financing leases so that our risk of loss at lease termination will be less than 10% of the initial value of the lease. In addition, we have several channels for re-leasing or marketing those assets. In connection with a lease, we may finance the customer’s purchase of other products or services from the equipment vendor and allocate the contract consideration between the use of the asset and the purchase of those products or services based on information obtained from the vendor. Amounts allocated to financing of vendor products or services are reported in loans as commercial and industrial loans, rather than as lease financing. Our primary income from financing leases is interest income recognized using the effective interest method. Variable lease revenues, such as reimbursement for property taxes associated with the leased asset, are included in lease income within noninterest income. Operating lease assets are presented in other assets, net of accumulated depreciation. Periodic depreciation expense is recorded on a straight-line basis to the estimated residual value over the estimated useful life of the leased asset. On a periodic basis, operating lease assets are reviewed for impairment and impairment loss is recognized if the carrying amount of operating lease assets exceeds fair value and is not recoverable. The carrying amount of leased assets is deemed not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the lease payments and the estimated residual value upon the eventual disposition of the equipment. Depreciation of leased assets and impairment loss are presented in operating leases expense within other noninterest expense. Operating lease rental income for leased assets is recognized in lease income within noninterest income on a straight-line basis over the lease term. Variable revenues on operating leases include reimbursements of costs, including property taxes, which fluctuate over time, as well as rental revenue based on usage. For leases of railcars, revenue for maintenance services provided under the lease is recognized in lease income. We elected to exclude from revenues and expenses any sales tax incurred on lease payments which are reimbursed by the lessee. Substantially all of our leased assets are protected against casualty loss through third-party insurance. |
Leasing Activity, As a Lessee | AS LESSEE We enter into lease agreements to obtain the right to use assets for our business operations, substantially all of which are real estate. Lease liabilities and ROU assets are recognized when we enter into operating or financing leases and represent our obligations and rights to use these assets over the period of the leases and may be re-measured for certain modifications, resolution of certain contingencies involving variable consideration, or our exercise of options (renewal, extension, or termination) under the lease. Operating lease liabilities include fixed and in-substance fixed payments for the contractual duration of the lease, adjusted for renewals or terminations which were considered probable of exercise when measured. The lease payments are discounted using a rate determined when the lease is recognized. As we typically do not know the discount rate implicit in the lease, we estimate a discount rate that we believe approximates a collateralized borrowing rate for the estimated duration of the lease. The discount rate is updated when re-measurement events occur. The related operating lease ROU assets may differ from operating lease liabilities due to initial direct costs, deferred or prepaid lease payments and lease incentives. We present operating lease liabilities in accrued expenses and other liabilities and the related operating lease ROU assets in other assets. The amortization of operating lease ROU assets and the accretion of operating lease liabilities are reported together as fixed lease expense and are included in net occupancy expense within noninterest expense. The fixed lease expense is recognized on a straight-line basis over the life of the lease. Some of our operating leases include variable lease payments which are periodic adjustments of our payments for the use of the asset based on changes in factors such as consumer price indices, fair market value rents, tax rates imposed by taxing authorities, or lessor cost of insurance. To the extent not included in operating lease liabilities and operating lease ROU assets, these variable lease payments are recognized as incurred in net occupancy expense within noninterest expense. For substantially all of our leased assets, we account for consideration paid under the contract for maintenance or other services as lease payments. In addition, for certain asset classes, we have elected to exclude leases with original terms of less than one year from the operating lease ROU assets and lease liabilities. The related short-term lease expense is included in net occupancy expense. Finance lease (formerly capital lease) liabilities are presented in long-term debt and the associated finance ROU assets are presented in premises and equipment. |
Securitizations and Beneficial Interests | Securitizations and Beneficial Interests Securitizations are transactions in which financial assets are sold to a Special Purpose Entity (SPE), which then issues beneficial interests in the form of senior and subordinated interests collateralized by the transferred financial assets. In some cases, we may obtain beneficial interests issued by the SPE. Additionally, from time to time, we may re-securitize certain financial assets in a new securitization transaction. The assets and liabilities transferred to an SPE are excluded from our consolidated balance sheet if the transfer qualifies as a sale and we are not required to consolidate the SPE. For transfers of financial assets recorded as sales, we recognize and initially measure at fair value all assets obtained (including beneficial interests or mortgage servicing rights) and all liabilities incurred. We record a gain or loss in noninterest income for the difference between assets obtained (net of liabilities incurred) and the carrying amount of the assets sold. Interests obtained from, and liabilities incurred in, securitizations with off-balance sheet entities may include debt and equity securities, loans, MSRs, derivative assets and liabilities, other assets, and other obligations such as liabilities for mortgage repurchase losses or long-term debt and are accounted for as described within this Note. |
Mortgage Servicing Rights | Mortgage Servicing Rights We recognize the rights to service mortgage loans for others, or mortgage servicing rights (MSRs), as assets whether we purchase the MSRs or the MSRs result from a sale or securitization of loans we originate (asset transfers). We initially record all of our MSRs at fair value. Subsequently, residential loan MSRs are carried at fair value. All of our MSRs related to our commercial mortgage loans are subsequently measured at LOCOM. The valuation and sensitivity of MSRs is discussed further in Note 10 (Securitizations and Variable Interest Entities), Note 11 (Mortgage Banking Activities) and Note 19 (Fair Values of Assets and Liabilities). For MSRs carried at fair value, changes in fair value are reported in mortgage banking noninterest income in the period in which the change occurs. MSRs subsequently measured at LOCOM are amortized in proportion to, and over the period of, estimated net servicing income. The amortization of MSRs is reported in mortgage banking noninterest income, analyzed monthly and adjusted to reflect changes in prepayment speeds, as well as other factors. MSRs accounted for at LOCOM are periodically evaluated for impairment based on the fair value of those assets. For purposes of impairment evaluation and measurement, we stratify MSRs based on the predominant risk characteristics of the underlying loans, including investor and product type. If, by individual stratum, the carrying amount of these MSRs exceeds fair value, a valuation allowance is established. The valuation allowance is adjusted as the fair value changes. |
Premises and Equipment | Premises and Equipment Premises and equipment are carried at cost less accumulated depreciation and amortization. We use the straight-line method of depreciation and amortization. Estimated useful lives range up to 40 years for buildings, up to 10 years for furniture and equipment, and the shorter of the estimated useful life (up to 8 years ) or the lease term for leasehold improvements. |
Goodwill and Identifiable Intangible Assets | Goodwill and Identifiable Intangible Assets Goodwill is recorded in business combinations under the purchase method of accounting when the purchase price is higher than the fair value of net assets, including identifiable intangible assets. We assess goodwill for impairment at a reporting unit level on an annual basis or more frequently in certain circumstances. We have determined that our reporting units are one level below the operating segments and distinguish these reporting units based on how the segments and reporting units are managed, taking into consideration the economic characteristics, nature of the products, and customers of the segments and reporting units. At the time we acquire a business, we allocate goodwill to applicable reporting units based on their relative fair value, and if we have a significant business reorganization, we may reallocate the goodwill. If we sell a business, a portion of goodwill is included with the carrying amount of the divested business. We have the option of performing a qualitative assessment of goodwill. We may also elect to bypass the qualitative test and proceed directly to a quantitative test. If we perform a qualitative assessment of goodwill to test for impairment and conclude it is more likely than not that a reporting unit’s fair value is greater than its carrying amount, quantitative tests are not required. However, if we determine it is more likely than not that a reporting unit’s fair value is less than its carrying amount, we complete a quantitative assessment to determine if there is goodwill impairment. We apply various quantitative valuation methodologies, including discounted cash flow and earnings multiple approaches, to determine the estimated fair value, which is compared to the carrying value of each reporting unit. If the fair value is less than the carrying amount, an additional test is required to measure the amount of impairment. We recognize impairment losses as a charge to other noninterest expense (unless related to discontinued operations) and an adjustment to the carrying value of the goodwill asset. Subsequent reversals of goodwill impairment are prohibited. We amortize customer relationship intangible assets on an accelerated basis over useful lives not exceeding 10 years. We review intangible assets for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Impairment is indicated if the sum of undiscounted estimated future net cash flows is less than the carrying value of the asset. Impairment is permanently recognized by writing down the asset to the extent that the carrying value exceeds the estimated fair value. |
Derivatives and Hedging Activities | Derivatives and Hedging Activities DERIVATIVES We recognize all derivatives on the balance sheet at fair value. On the date we enter into a derivative contract, we categorize the derivative as either an accounting hedge, economic hedge or part of our customer accommodation trading and other portfolio. Accounting hedges are either fair value or cash flow hedges. Fair value hedges represent the hedge of the fair value of a recognized asset or liability or an unrecognized firm commitment, including hedges of foreign currency exposure. Cash flow hedges represent the hedge of a forecasted transaction or the variability of cash flows to be paid or received related to a recognized asset or liability. Economic hedges and customer accommodation trading and other derivatives do not qualify for, or we have elected not to apply, hedge accounting. Economic hedges are derivatives we use to manage interest rate, foreign currency and certain other risks associated with our non-trading activities. Customer accommodation trading and other derivatives primarily represents derivatives related to our trading business activities. We report changes in the fair values of these derivatives in noninterest income. FAIR VALUE HEDGES We record changes in the fair value of the derivative in income, except for certain derivatives in which a portion is recorded to OCI. We record basis adjustments to the amortized cost of the hedged asset or liability due to the changes in fair value related to the hedged risk with the offset recorded in earnings. We present derivative gains or losses in the same income statement category as the hedged asset or liability, as follows: • For fair value hedges of interest rate risk, amounts are reflected in net interest income; • For hedges of foreign currency risk, amounts representing the fair value changes less the accrual for periodic cash flow settlements are reflected in noninterest income. The periodic cash flow settlements are reflected in net interest income; • For hedges of both interest rate risk and foreign currency risk, amounts representing the fair value change less the accrual for periodic cash flow settlements is attributed to both net interest income and noninterest income. The periodic cash flow settlements are reflected in net interest income. The entire derivative gain or loss is included in the assessment of hedge effectiveness for all fair value hedge relationships, except for hedges of foreign-currency denominated AFS debt securities and long-term debt liabilities hedged with cross-currency swaps. The change in fair value of these swaps attributable to cross-currency basis spread changes is excluded from the assessment of hedge effectiveness. The initial fair value of the excluded component is amortized to net interest income and the difference between changes in fair value of the excluded component and the amount recorded in earnings is recorded in OCI. CASH FLOW HEDGES We record changes in the fair value of the derivative in OCI. We subsequently reclassify gains and losses from these changes in fair value from OCI to earnings in the same period(s) that the hedged transaction affects earnings and in the same income statement category as the hedged item. For cash flow hedges of interest rate risk associated with floating-rate commercial loans and long-term debt, these amounts are reflected in net interest income. For cash flow hedges of foreign currency risk associated with fixed-rate long-term debt, these amounts are reflected in net interest income. The entire gain or loss on these derivatives is included in the assessment of hedge effectiveness. DOCUMENTATION AND EFFECTIVENESS ASSESSMENT FOR ACCOUNTING HEDGES For fair value and cash flow hedges qualifying for hedge accounting, we formally document at inception the relationship between hedging instruments and hedged items, our risk management objective, strategy and our evaluation of effectiveness for our hedge transactions. This process includes linking all derivatives designated as fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific forecasted transactions. We assess hedge effectiveness using regression analysis, both at inception of the hedging relationship and on an ongoing basis. For fair value hedges, the regression analysis involves regressing the periodic change in fair value of the hedging instrument against the periodic changes in fair value of the asset or liability being hedged due to changes in the hedged risk(s). For cash flow hedges, the regression analysis involves regressing the periodic changes in fair value of the hedging instrument against the periodic changes in fair value of a hypothetical derivative. The hypothetical derivative has terms that identically match and offset the cash flows of the forecasted transaction being hedged due to changes in the hedged risk(s). The initial assessment for fair value and cash flow hedges includes an evaluation of the quantitative measures of the regression results used to validate the conclusion of high effectiveness. Periodically, as required, we also formally assess whether the derivative we designated in each hedging relationship is expected to be and has been highly effective in offsetting changes in fair values or cash flows of the hedged item using the regression analysis method. DISCONTINUING HEDGE ACCOUNTING We discontinue hedge accounting prospectively when (1) a derivative is no longer highly effective in offsetting changes in the fair value or cash flows of a hedged item, (2) a derivative expires or is sold, terminated or exercised, (3) we elect to discontinue the designation of a derivative as a hedge, or (4) in a cash flow hedge, a derivative is de-designated because it is no longer probable that a forecasted transaction will occur. When we discontinue fair value hedge accounting, we no longer adjust the previously hedged asset or liability for changes in fair value. The remaining cumulative adjustments to the hedged item and accumulated amounts reported in OCI are accounted for in the same manner as other components of the carrying amount of the asset or liability. For example, for financial debt instruments such as AFS debt securities, loans or long-term debt, these amounts are amortized into net interest income over the remaining life of the asset or liability similar to other amortized cost basis adjustments. If the hedged item is derecognized, the accumulated amounts reported in OCI are immediately reclassified to net interest income. If the derivative continues to be held after fair value hedge accounting ceases, we carry the derivative on the balance sheet at its fair value with changes in fair value included in noninterest income. When we discontinue cash flow hedge accounting and it is probable that the forecasted transaction will occur, the accumulated amount reported in OCI at the de-designation date continues to be reported in OCI until the forecasted transaction affects earnings at which point the related OCI amount is reclassified to net interest income. If cash flow hedge accounting is discontinued and it is probable the forecasted transaction will no longer occur, the accumulated gains and losses reported in OCI at the de-designation date is immediately reclassified to noninterest income. If the derivative continues to be held after cash flow hedge accounting ceases, we carry the derivative on the balance sheet at its fair value with changes in fair value included in noninterest income. EMBEDDED DERIVATIVES We may purchase or originate financial instruments that contain an embedded derivative. At inception of the financial instrument, we assess (1) if the economic characteristics of the embedded derivative are not clearly and closely related to the economic characteristics of the host contract, (2) if the financial instrument that embodies both the embedded derivative and the host contract is not measured at fair value with changes in fair value reported in earnings, and (3) if a separate instrument with the same terms as the embedded instrument would meet the definition of a derivative. If the embedded derivative meets all of these conditions, we separate it from the hybrid contract by recording the bifurcated derivative at fair value and the remaining host contract at the difference between the basis of the hybrid instrument and the fair value of the bifurcated derivative. The bifurcated derivative is carried at fair value with changes recorded in noninterest income and reported within the balance sheet as a derivative asset or liability. The accounting for the remaining host contract is the same as other assets and liabilities of a similar type and reported within the balance sheet based upon the accounting classification of the instrument. COUNTERPARTY CREDIT RISK AND NETTING By using derivatives, we are exposed to counterparty credit risk, which is the risk that 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. Counterparty credit risk related to derivatives is considered in determining fair value and our assessment of hedge effectiveness. To the extent derivatives subject to master netting arrangements 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 adjustments to reflect counterparty credit risk (credit valuation adjustments (CVA)) in determining the fair value of our derivatives. CVA, which considers the effects of enforceable master netting agreements and collateral arrangements, reflects market-based views of the credit quality of each counterparty. We estimate CVA based on observed credit spreads in the credit default swap market and indices indicative of the credit quality of the counterparties to our derivatives. Cash collateral exchanged related to our interest rate derivatives, and certain commodity and equity derivatives, with centrally cleared counterparties is recorded as a reduction of the derivative fair value asset and liability balances, as opposed to separate non-derivative receivables or payables. This cash collateral, also referred to as variation margin, is exchanged based upon derivative fair value changes, typically on a one-day lag. For additional information on our derivatives and hedging activities, see Note 18 (Derivatives). |
Pension Accounting | Pension Accounting We sponsor a frozen noncontributory qualified defined benefit retirement plan, the Wells Fargo & Company Cash Balance Plan (Cash Balance Plan), which covers eligible employees of Wells Fargo. We also sponsor nonqualified defined benefit plans that provide supplemental defined benefit pension benefits to certain eligible employees. We account for our defined benefit pension plans using an actuarial model. Two principal assumptions in determining net periodic pension cost are the discount rate and the expected long-term rate of return on plan assets. A discount rate is used to estimate the present value of our future pension benefit obligations. We use a consistent methodology to determine the discount rate using a yield curve with maturity dates that closely match the estimated timing of the expected benefit payments for our plans. The yield curve is derived from a broad-based universe of high-quality corporate bonds as of the measurement date. Our determination of the reasonableness of our expected long-term rate of return on plan assets is highly quantitative by nature. We evaluate the current asset allocations and expected returns under two sets of conditions: (1) projected returns using several forward-looking capital market assumptions, and (2) historical returns for the main asset classes dating back to 1970 or the earliest period for which historical data was readily available for the asset classes included. Using long-term historical data allows us to capture multiple economic environments, which we believe is relevant when using historical returns. We place greater emphasis on the forward-looking return and risk assumptions than on historical results. We use the resulting projections to derive a base line expected rate of return and risk level for the Cash Balance Plan’s prescribed asset mix. We evaluate the portfolio based on: (1) the established target asset allocations over short term ( one -year) and longer term ( ten -year) investment horizons, and (2) the range of potential outcomes over these horizons within specific standard deviations. We perform the above analyses to assess the reasonableness of our expected long-term rate of return on plan assets. We consider the expected rate of return to be a long-term average view of expected returns. At year end, we re-measure our defined benefit plan liabilities and related plan assets and recognize any resulting actuarial gain or loss in other comprehensive income. We generally amortize net actuarial gain or loss in excess of a 5% corridor from accumulated OCI into net periodic pension cost over the estimated average remaining participation period, which at December 31, 2019 , is 19 years . See Note 23 (Employee Benefits and Other Expenses) for additional information on our pension accounting. |
Income Taxes | Income Taxes We file consolidated and separate company U.S. federal income tax returns, non-U.S. tax returns and various combined and separate company state tax returns. We evaluate two components of income tax expense: current and deferred income tax expense. Current income tax expense represents our estimated taxes to be paid or refunded for the current period and includes income tax expense related to our uncertain tax positions. Uncertain tax positions that meet the more likely than not recognition threshold are measured to determine the amount of benefit to recognize. An uncertain tax position is measured at the largest amount of benefit that management believes has a greater than 50% likelihood of realization upon settlement. Tax benefits not meeting our realization criteria represent unrecognized tax benefits. Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. We determine deferred income taxes using the balance sheet method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax basis of assets and liabilities, and enacted changes in tax rates and laws are recognized in the period in which they occur. Deferred tax assets are recognized subject to management’s judgment that realization is more likely than not. See Note 24 (Income Taxes) to Financial Statements in this Report for a further description of our provision for income taxes and related income tax assets and liabilities. |
Stock-Based Compensation | Stock-Based Compensation We have stock-based employee compensation plans as more fully discussed in Note 21 (Common Stock and Stock Plans). Our Long-Term Incentive Compensation Plan provides for awards of incentive and nonqualified stock options, stock appreciation rights, restricted shares, restricted share rights (RSRs), performance share awards (PSAs) and stock awards without restrictions. We measure the cost of employee services received in exchange for an award of equity instruments, such as stock options, RSRs or PSAs, based on the fair value of the award on the grant date. The cost is recognized in commission and incentive compensation in our income statement normally over the vesting period of the award; awards with graded vesting are expensed on a straight-line method. Awards to team members who are retirement eligible at the grant date are subject to immediate expensing upon grant. Awards to team members who become retirement eligible before the final vesting date are expensed between the grant date and the date the team member becomes retirement eligible. Except for retirement and other limited circumstances, RSRs are canceled when employment ends. Beginning in 2013, certain RSRs and all PSAs granted include discretionary conditions that can result in forfeiture and are measured at fair value initially and subsequently until the discretionary conditions end. For these awards, the associated compensation expense fluctuates with changes in our stock price. For PSAs, compensation expense also fluctuates based on the estimated outcome of meeting the performance conditions. The total expense that will be recognized on these awards cannot be finalized until the determination of the awards that will vest. |
Earnings Per Common Share | Earnings Per Common Share We compute earnings per common share by dividing net income applicable to common stock (net income less dividends on preferred stock and the excess of consideration transferred over carrying value of preferred stock redeemed, if any) by the average number of common shares outstanding during the period. We compute diluted earnings per common share using net income applicable to common stock and adding the effect of common stock equivalents (e.g., stock options, restricted share rights, convertible debentures and warrants) that are dilutive to the average number of common shares outstanding during the period. |
Fair Value of Financial Instruments | Fair Value of Assets and Liabilities Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is based on the exit price notion while maximizing the use of observable inputs and minimizing the use of unobservable inputs. We measure our assets and liabilities at fair value when we are required to record them at fair value, when we have elected the fair value option, and to fulfill fair value disclosure requirements. Assets and liabilities are recorded at fair value on a recurring or nonrecurring basis. Assets and liabilities that are recorded at fair value on a recurring basis require a fair value measurement at each reporting period. Those that are recorded at fair value on a nonrecurring basis are adjusted to fair value only as required through the application of an accounting method such as LOCOM, the measurement alternative, or write-downs of individual assets. Measurements of fair value prioritize observable inputs, where available. We classify our assets and liabilities measured at fair value based upon a three-level hierarchy that assigns the highest priority to unadjusted quoted prices in active markets and the lowest priority to unobservable inputs. The three levels are as follows: • 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. For valuations that use several inputs, the determination of whether that measurement is Level 2 or Level 3 is based on the significance of the unobservable inputs to the entire fair value measurement. See Note 19 (Fair Values of Assets and Liabilities) for a more detailed discussion of the valuation methodologies that we apply to our assets and liabilities. |
Share Repurchases | Share Repurchases From time to time we may enter into written repurchase plans pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934, private forward repurchase contracts, or a combination of the two to complement our open-market common stock repurchase strategies. The stock repurchase transactions 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. Under a Rule 10b5-1 repurchase plan, payments and receipt of repurchased shares settle on the same day. Shares repurchased reduce the total number of outstanding shares of common stock upon the settlement of each trade under the plan. During 2019 and 2018 , we repurchased approximately 204 million and 12 million shares of our common stock, respectively, under Rule 10b5-1 repurchase plans. We had no shares repurchased under a Rule 10b5-1 repurchase plan during 2017 . We had no shares repurchased under private forward repurchase contracts in 2019 . During 2018 and 2017 , we repurchased approximately 82 million and 89 million shares of our common stock, respectively, under these contracts. We had no unsettled private forward repurchase contracts at December 31, 2019 , December 31, 2018 , or December 31, 2017 . Under private forward repurchase contract transactions, our payments to counterparties are recognized 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 the Board of Governors of the Federal Reserve System (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 contract. |
Subsequent Events | Subsequent Events We have evaluated the effects of events that have occurred subsequent to December 31, 2019 , and, except as disclosed in Note 17 (Legal Actions), Note 20 (Preferred Stock) and Note 27 (Operating Segments), there have been no material events that would require recognition in our 2019 |
Available-for-sale securities [Member] | |
Significant Accounting Policies [Line Items] | |
Marketable and Nonmarketable Securities, Policy | AVAILABLE-FOR-SALE DEBT SECURITIES Investments in debt securities for which the Company does not have the positive intent and ability to hold to maturity are classified as AFS. AFS debt securities are measured at fair value with unrealized gains and losses reported in cumulative OCI, net of applicable income taxes. We conduct other-than-temporary impairment (OTTI) analysis on a quarterly basis or more often if a potential loss-triggering event occurs. The initial indicator of OTTI is a decline in fair value below the amortized cost of the debt security. We recognize OTTI in earnings as a reduction to the amortized cost of the security. OTTI related to AFS debt securities is classified as net gains (losses) from debt securities within noninterest income. We recognize OTTI for an AFS debt security that has a decline in fair value below amortized cost if we: (1) have the intent to sell the security, (2) it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis, or (3) we do not expect to recover the entire amortized cost basis of the security. Estimating recovery of the amortized cost basis of an AFS debt security is based upon an assessment of the cash flows expected to be collected. If the present value of cash flows expected to be collected discounted at the security’s effective yield is less than amortized cost, an OTTI has occurred. In performing an assessment of the cash flows expected to be collected, we consider all relevant information, including: • the length of time and the extent to which the fair value has been less than the amortized cost basis; • the historical and implied volatility of the fair value of the security; • the cause of the price decline, such as the general level of interest rates or adverse conditions specifically related to the security, an industry or a geographic area; • the issuer’s financial condition, near-term prospects and ability to service the debt; • the payment structure of the debt security and the likelihood of the issuer being able to make payments that increase in the future; • for asset-backed securities, the credit performance of the underlying collateral, including delinquency rates, level of non-performing assets, cumulative losses to date, collateral value and the remaining credit enhancement compared with expected credit losses; • any change in rating agencies’ credit ratings and any likely imminent action; • independent analyst reports and forecasts, sector credit ratings and other independent market data; and • recoveries or additional declines in fair value subsequent to the balance sheet date. If we intend to sell the security, or if it is more likely than not we will be required to sell the security before recovery of amortized cost basis, OTTI is recognized in earnings equal to the entire difference between the amortized cost basis and fair value of the security. For a debt security that is considered other-than-temporarily impaired that we do not intend to sell or it is more likely than not that we will not be required to sell before recovery, OTTI is separated into an amount representing the credit loss, which is recognized in earnings, and the amount related to all other factors, which is recognized in OCI. The measurement of the credit loss component is equal to the difference between the debt security’s amortized cost basis and the present value of its expected future cash flows discounted at the security’s effective yield. The remaining difference between the security’s fair value and the present value of expected future cash flows is due to all other factors. We believe that we will fully collect the carrying value of securities on which we have recorded a non-credit-related impairment in OCI. Following the recognition of OTTI, the security’s new amortized cost basis is the previous basis less any OTTI recognized in earnings. We recognize realized gains and losses on the sale of AFS debt securities in net gains (losses) on debt securities using the specific identification method. Unamortized premiums and discounts are recognized in interest income over the contractual life of the security using the effective interest method, except for purchased callable debt securities carried at a premium. For purchased callable debt securities carried at a premium, the premium is amortized into interest income to the earliest call date using the effective interest method. As principal repayments are received on securities (e.g., mortgage-backed securities (MBS)) a proportionate amount of the related premium or discount is recognized in income so that the effective interest rate on the remaining portion of the security continues unchanged. |
Held-to-maturity securities [Member] | |
Significant Accounting Policies [Line Items] | |
Marketable and Nonmarketable Securities, Policy | HELD-TO-MATURITY DEBT SECURITIES Investments in debt securities for which the Company has the positive intent and ability to hold to maturity are classified as HTM. HTM debt securities are measured at historical cost adjusted for amortization of premiums and accretion of discounts under the same methods described for AFS debt securities. We recognize OTTI when there is a decline in fair value below amortized cost and we do not expect to recover the entire amortized cost basis of the debt security. The amortized cost is written-down to fair value with the credit loss component recorded to earnings and the remaining component recognized in OCI. The OTTI assessment related to intent to sell, required to sell, whether we expect recovery of the amortized cost basis and determination of any credit loss component recognized in earnings for HTM debt securities is the same as described for AFS debt securities. OTTI related to HTM debt securities is classified as net gains (losses) from debt securities within noninterest income. AFS debt securities transferred to the HTM classification are recorded at fair value and the unrealized gains or losses resulting from the transfer of these securities continue to be reported in cumulative OCI. The cumulative OCI balance is amortized into earnings over the same period as the unamortized premiums and discounts using the effective interest method. The HTM amortized cost basis used in the OTTI analysis includes the unamortized OCI balances related to previous security transfers from AFS to HTM. |
Trading Activities [Member] | |
Significant Accounting Policies [Line Items] | |
Marketable and Nonmarketable Securities, Policy | Trading Activities We engage in trading activities to accommodate the investment and risk management activities of our customers. These activities predominantly occur in our Wholesale Banking businesses and, to a lesser extent, other divisions of the Company. Trading assets and liabilities include debt securities, equity securities, loans, derivatives and short sales, which are reported within the balance sheet based on the accounting classification of the instrument. In addition, debt securities that are held for investment purposes that we have elected to account for under the fair value method, are classified as trading. Our trading assets and liabilities are carried on the balance sheet at fair value with changes in fair value recognized in net gains from trading activities and interest income and interest expense recognized in net interest income. Customer accommodation trading activities include our actions as an intermediary to buy and sell financial instruments and market-making activities. We also take positions to manage our exposure to customer accommodation activities. We hold financial instruments for trading in long positions, as well as short positions, to facilitate our trading activities. As an intermediary, we interact with market buyers and sellers to facilitate the purchase and sale of financial instruments to meet the anticipated or current needs of our customers. For example, we may purchase or sell a derivative to a customer who wants to manage interest rate risk exposure. We typically enter into an offsetting derivative or security position to manage our exposure to the customer transaction. We earn income based on the transaction price difference between the customer transaction and the offsetting position, which is reflected in earnings where the fair value changes and related interest income and expense of the positions are recorded. Our market-making activities include taking long and short trading positions to facilitate customer order flow. These activities are typically executed on a short-term basis. As a market-maker we earn income due to: (1) the difference between the price paid or received for the purchase and sale of the security (bid-ask spread), (2) the net interest income of the positions, and (3) the changes in fair value of the trading positions held on our balance sheet. Additionally, we may enter into separate derivative or security positions to manage our exposure related to our long and short trading positions taken in our market-making activities. Income earned on these market-making activities are reflected in earnings where the fair value changes and related interest income and expense of the positions are recorded. |
Debt securities [Member] | |
Significant Accounting Policies [Line Items] | |
Marketable and Nonmarketable Securities, Policy | Debt Securities Our investments in debt securities that are not held for trading purposes are classified as either debt securities available-for-sale (AFS) or held-to-maturity (HTM). |
Equity securities [Member] | |
Significant Accounting Policies [Line Items] | |
Marketable and Nonmarketable Securities, Policy | Equity Securities Equity securities exclude investments that represent a controlling interest in the investee. Marketable equity securities have readily determinable fair values and include, but are not limited to securities used in our trading activities. Marketable equity securities are recorded at fair value with unrealized gains and losses, due to changes in fair value, reflected in net gains (losses) on equity securities within noninterest income. Realized and unrealized gains and losses from marketable equity securities related to our trading activity are recognized in net gains from trading activities. The remaining marketable equity securities realized and unrealized gains and losses are recognized in net gains from equity securities. Dividend income from marketable equity securities is recognized in interest income. N onmarketable equity securities do not have readily determinable fair values. These securities are accounted for under one of the following accounting methods: • Fair value: This method is an election. The securities are recorded at fair value with unrealized gains or losses reflected in noninterest income; • Equity method: This method is applied when we have the ability to exert significant influence over the investee. These securities are carried at cost and adjusted for our share of the investee’s earnings or losses, less any dividends received and/or impairments; • Cost method: This method is required for specific securities, such as Federal Reserve Bank stock and Federal Home Loan Bank stock. These investments are held at amortized cost less any impairments. If impaired, the carrying value is written down to the fair value of the security; • Measurement alternative: This method is followed by all remaining nonmarketable equity securities. These securities are initially carried at amortized cost and are remeasured to fair value as of the date of an orderly observable transaction of the same or similar security of the same issuer. These securities are also adjusted for any impairments. Equity method adjustments for our share of the investee’s earnings or losses are recognized in other noninterest income. All other realized and unrealized gains and losses, including impairment losses, from nonmarketable equity securities are recognized in net gains from equity securities. Dividends from equity method securities are recognized as a reduction of the investment carrying value. Dividend income from all other nonmarketable equity securities is recognized in interest income. Our review for impairment for equity method, cost method and measurement alternative securities includes an analysis of the facts and circumstances of each security, the intent or requirement to sell the security, the expectations of cash flows, capital needs and the viability of its business model. For equity method and cost method investments, we reduce the asset’s carrying value when we consider declines in value to be other than temporary. For securities accounted for under the measurement alternative, we reduce the asset value when the fair value is less than carrying value, without the consideration of recovery. |
Accounting Standards Update 2018-16 [Member] | |
Significant Accounting Policies [Line Items] | |
Accounting Standards Adopted in 2019 | ASU 2018-16 expands the list of U.S. benchmark interest rates permitted in the application of hedge accounting. The Update adds the OIS rate based on SOFR as a U.S. benchmark interest rate to facilitate the London Interbank Offered Rate (LIBOR) to SOFR transition and provide sufficient lead time for entities to prepare for changes to interest rate risk hedging strategies for both risk management and hedge accounting purposes. The Update is applied prospectively for qualifying new or re-designated hedging relationships entered into on or after adoption date. We adopted the guidance in first quarter 2019. The Update has not had an impact as we have not designated SOFR OIS as a benchmark interest rate in any hedging relationships. |
Accounting Standards Update 2017-08 [Member] | |
Significant Accounting Policies [Line Items] | |
Accounting Standards Adopted in 2019 | ASU 2017-08 changes the interest income recognition model for purchased callable debt securities carried at a premium, as the premium will be amortized to the earliest call date rather than to the contractual maturity date. Accounting for purchased callable debt securities held at a discount does not change, as the discount will continue to accrete to the contractual maturity date. The Update impacted our investments in purchased callable debt securities classified as available-for-sale (AFS) and held-to-maturity (HTM), which predominantly consist of debt securities of U.S. states and political subdivisions. We adopted the Update in first quarter 2019 and recorded a cumulative-effect adjustment as of January 1, 2019, that decreased total stockholders’ equity by $111 million . Retained earnings was reduced by $592 million which reflects both the incremental premium amortization under the new guidance from the acquisition date of our impacted AFS and HTM debt securities through the date of adoption and the fact that the incremental premium amortization is not deductible for federal income tax purposes. Other comprehensive income (OCI) was increased by $481 million which reflects the corresponding adjustment to the adoption date unrealized gain or loss of impacted AFS debt securities. Going forward, interest income recognized prior to the call date will be reduced because the premium will be amortized over a shorter period. |
Accounting Standards Update 2016-02 [Member] | |
Significant Accounting Policies [Line Items] | |
Accounting Standards Adopted in 2019 | ASU 2016-02 modifies the guidance used by lessors and lessees to account for leasing transactions. For our transition to the new guidance, we elected several available practical expedients, including to not reassess the classification of our existing leases, any initial direct costs associated with our leases, or whether any existing contracts are or contain leases. In addition, we elected not to provide a comparative presentation for 2018 and 2017 financial statements. We adopted the Update in first quarter 2019 and recorded a cumulative-effect adjustment that increased retained earnings by $100 million related to deferred gains on our prior sale-leaseback transactions. We also recognized operating lease right-of-use (ROU) assets and liabilities, substantially all of which relate to our leasing of real estate as a lessee, of $4.9 billion and $5.6 billion , respectively. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Accounting Model for Financial Assets and Financial Liabilities | Table 1.1 summarizes financial assets and liabilities by form and measurement accounting model. Table 1.1: Accounting Model for Financial Assets and Financial Liabilities Balance sheet caption Measurement model(s) Financial statement Note reference Cash and due from banks Amortized cost Note 3: Cash, Loan and Dividend Restrictions Interest-earning deposits with banks Amortized cost Note 3: Cash, Loan and Dividend Restrictions Federal funds sold and securities purchased under resale agreements Amortized cost N/A Debt securities: Trading FV-NI (1) Note 4: Trading Activities Available-for-sale FV-OCI (2) Note 5: Available-for-Sale and Held-to-Maturity Debt Securities Held-to-maturity Amortized cost Note 5: Available-for-Sale and Held-to-Maturity Debt Securities Mortgage loans held for sale FV-NI (1) LOCOM (3) Note 19: Fair Values of Assets and Liabilities Loans held for sale FV-NI (1) Note 19: Fair Values of Assets and Liabilities Loans Amortized cost FV-NI (1) Note 6: Loans and Allowance for Credit Losses Derivative assets and liabilities FV-NI (1) FV-OCI (2) Note 4: Trading Activities Equity securities: Marketable FV-NI (1) Note 4: Trading Activities Nonmarketable FV-NI (1) Cost method Equity method MA (4) Note 4: Trading Activities Other assets Amortized cost (5) Note 9: Premises, Equipment, and Other Assets Deposits Amortized cost Note 13: Deposits Short-term borrowings Amortized cost Note 14: Short-Term Borrowings Accrued expenses and other liabilities Amortized cost (6) Note 4: Trading Activities Note 7: Leasing Activity Note 19: Fair Values of Assets and Liabilities Long-term debt Amortized cost Note 15: Long-Term Debt (1) FV-NI represents the fair value through net income accounting model. (2) FV-OCI represents the fair value through other comprehensive income accounting model. (3) LOCOM represents the lower of cost or fair value accounting model. (4) MA represents the measurement alternative accounting model. (5) Other assets are generally measured at amortized cost, except for bank-owned life insurance which is measured at cash surrender value. (6) Accrued expenses and other liabilities are generally measured at amortized cost, except for trading short-sale liabilities which are measured at FV-NI. |
Supplemental Cash Flow Information | Supplemental Cash Flow Information Significant noncash activities are presented in Table 1.2 . Table 1.2: Supplemental Cash Flow Information Year ended December 31, (in millions) 2019 2018 2017 Trading debt securities retained from securitization of MLHFS $ 40,650 37,265 52,435 Transfers from loans to MLHFS 6,330 5,366 5,500 Transfers from available-for-sale debt securities to held-to-maturity debt securities 13,833 16,479 50,405 Operating lease ROU assets acquired with operating lease liabilities (1) 5,804 — — (1) The year ended December 31, 2019 , balance includes $4.9 billion from adoption of ASU 2016-02 – Leases (Topic 842) and $904 million attributable to new leases and changes from modified leases. |
Cash, Loan and Dividend Restr_2
Cash, Loan and Dividend Restrictions Cash, Loan and Dividend Restrictions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of Restrictions on Dividends, Loans and Advances Disclosure [Abstract] | |
Nature of Restrictions on Cash Equivalents [Table Text Block] | Table 3.1 provides a summary of restrictions on cash equivalents in addition to the FRB reserve cash balance requirements. Table 3.1: Nature of Restrictions on Cash Equivalents (in millions) Dec 31, Dec 31, Average required reserve balance for FRB (1) $ 11,374 12,428 Reserve balance for non-U.S. central banks 460 517 Segregated for benefit of brokerage customers under federal and other brokerage regulations 733 1,135 Related to consolidated variable interest entities (VIEs) that can only be used to settle liabilities of VIEs 300 147 (1) FRB required reserve balance represents average for the years ended December 31, 2019 , and December 31, 2018 . |
Trading Activities (Tables)
Trading Activities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Trading Activities [Abstract] | |
Trading Assets and Liabilities | Table 4.1 presents a summary of our trading assets and liabilities measured at fair value through earnings. Table 4.1: Trading Assets and Liabilities (in millions) Dec 31, Dec 31, Trading assets: Debt securities $ 79,733 69,989 Equity securities 27,440 19,449 Loans held for sale 972 1,469 Gross trading derivative assets 34,825 29,216 Netting (1) (21,463 ) (19,807 ) Total trading derivative assets 13,362 9,409 Total trading assets 121,507 100,316 Trading liabilities: Short sale 17,430 19,720 Gross trading derivative liabilities 33,861 28,717 Netting (1) (26,074 ) (21,178 ) Total trading derivative liabilities 7,787 7,539 Total trading liabilities $ 25,217 27,259 (1) Represents balance sheet netting for trading derivative asset and liability balances, and trading portfolio level counterparty valuation adjustments. |
Net Interest Income and Net Gains (Losses) on Trading Activities | Table 4.2 provides a summary of the net interest income earned from trading securities, and net gains and losses due to the realized and unrealized gains and losses from trading activities. Net interest income also includes dividend income on trading securities and dividend expense on trading securities we have sold, but not yet purchased. Table 4.2: Net Interest Income and Net Gains (Losses) on Trading Activities Year ended December 31, (in millions) 2019 2018 2017 Interest income: Debt securities $ 3,130 2,831 2,313 Equity securities 579 587 515 Loans held for sale 78 62 38 Total interest income 3,787 3,480 2,866 Less: Interest expense 525 587 416 Net interest income 3,262 2,893 2,450 Net gains (losses) from trading activities (1): Debt securities 1,053 (824 ) 125 Equity securities 4,795 (4,240 ) 3,394 Loans held for sale 12 (1 ) 45 Derivatives (2) (4,867 ) 5,667 (3,022 ) Total net gains from trading activities 993 602 542 Total trading-related net interest and noninterest income $ 4,255 3,495 2,992 (1) Represents realized gains (losses) from our trading activities and unrealized gains (losses) due to changes in fair value of our trading positions. (2) Excludes economic hedging of mortgage banking and asset/liability management activities, for which hedge results (realized and unrealized) are reported with the respective hedged activities. |
AFS and HTM Debt Securities (Ta
AFS and HTM Debt Securities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
AFS and HTM Debt Securities [Abstract] | |
Amortized Cost and Fair Value | Table 5.1 provides the amortized cost and fair value by major categories of available-for-sale debt 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 debt securities are reported on an after-tax basis as a component of cumulative OCI. Information on debt securities held for trading is included in Note 4 (Trading Activities). Table 5.1: Amortized Cost and Fair Value (in millions) Amortized cost Gross unrealized gains Gross unrealized losses Fair value December 31, 2019 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ 14,948 13 (1 ) 14,960 Securities of U.S. states and political subdivisions (1) 39,381 992 (36 ) 40,337 Mortgage-backed securities: Federal agencies 160,318 2,299 (164 ) 162,453 Residential 814 14 (1 ) 827 Commercial 3,899 41 (6 ) 3,934 Total mortgage-backed securities 165,031 2,354 (171 ) 167,214 Corporate debt securities 6,343 252 (32 ) 6,563 Collateralized loan and other debt obligations 29,693 125 (123 ) 29,695 Other (2) 4,664 50 (24 ) 4,690 Total available-for-sale debt securities 260,060 3,786 (387 ) 263,459 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies 45,541 617 (19 ) 46,139 Securities of U.S. states and political subdivisions 13,486 286 (13 ) 13,759 Federal agency and other mortgage-backed securities (3) 94,869 2,093 (37 ) 96,925 Other debt securities 37 — — 37 Total held-to-maturity debt securities 153,933 2,996 (69 ) 156,860 Total (4) $ 413,993 6,782 (456 ) 420,319 December 31, 2018 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ 13,451 3 (106 ) 13,348 Securities of U.S. states and political subdivisions (1) 48,994 716 (446 ) 49,264 Mortgage-backed securities: Federal agencies 155,974 369 (3,140 ) 153,203 Residential 2,638 142 (5 ) 2,775 Commercial 4,207 40 (22 ) 4,225 Total mortgage-backed securities 162,819 551 (3,167 ) 160,203 Corporate debt securities 6,230 131 (90 ) 6,271 Collateralized loan and other debt obligations 35,581 158 (396 ) 35,343 Other (2) 5,396 100 (13 ) 5,483 Total available-for-sale debt securities 272,471 1,659 (4,218 ) 269,912 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies 44,751 4 (415 ) 44,340 Securities of U.S. states and political subdivisions 6,286 30 (116 ) 6,200 Federal agency and other mortgage-backed securities (3) 93,685 112 (2,288 ) 91,509 Other debt securities 66 — — 66 Total held-to-maturity debt securities 144,788 146 (2,819 ) 142,115 Total (4) $ 417,259 1,805 (7,037 ) 412,027 (1) Includes investments in tax-exempt preferred debt securities issued by investment funds or trusts that predominantly invest in tax-exempt municipal securities. The amortized cost and fair value of these types of securities was $5.8 billion each at December 31, 2019 , and $6.3 billion each at December 31, 2018 . (2) Largely includes asset-backed securities collateralized by student loans. (3) Predominantly consists of federal agency mortgage-backed securities at both December 31, 2019 , and December 31, 2018 . (4) We held debt securities from Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC) that each exceeded 10% of shareholders’ equity, with an amortized cost of $112.1 billion and $89.9 billion and a fair value of $114.0 billion and $91.4 billion at December 31, 2019 , and an amortized cost of $99.0 billion and $95.0 billion and a fair value of $97.6 billion and $93.0 billion at December 31, 2018 , respectively. |
Gross Unrealized Losses and Fair Value | Table 5.2 shows the gross unrealized losses and fair value of available-for-sale and held-to-maturity debt securities by length of time those 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 5.2: 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 December 31, 2019 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ — — (1 ) 2,423 (1 ) 2,423 Securities of U.S. states and political subdivisions (10 ) 2,776 (26 ) 2,418 (36 ) 5,194 Mortgage-backed securities: Federal agencies (50 ) 16,807 (114 ) 10,641 (164 ) 27,448 Residential (1 ) 149 — — (1 ) 149 Commercial (3 ) 998 (3 ) 244 (6 ) 1,242 Total mortgage-backed securities (54 ) 17,954 (117 ) 10,885 (171 ) 28,839 Corporate debt securities (9 ) 303 (23 ) 216 (32 ) 519 Collateralized loan and other debt obligations (13 ) 5,070 (110 ) 16,789 (123 ) 21,859 Other (12 ) 1,587 (12 ) 492 (24 ) 2,079 Total available-for-sale debt securities (98 ) 27,690 (289 ) 33,223 (387 ) 60,913 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies (19 ) 989 — — (19 ) 989 Securities of U.S. states and political subdivisions (9 ) 613 (4 ) 57 (13 ) 670 Federal agency and other mortgage-backed securities (35 ) 5,825 (2 ) 31 (37 ) 5,856 Total held-to-maturity debt securities (63 ) 7,427 (6 ) 88 (69 ) 7,515 Total $ (161 ) 35,117 (295 ) 33,311 (456 ) 68,428 December 31, 2018 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ (1 ) 498 (105 ) 6,204 (106 ) 6,702 Securities of U.S. states and political subdivisions (73 ) 9,746 (373 ) 9,017 (446 ) 18,763 Mortgage-backed securities: Federal agencies (42 ) 10,979 (3,098 ) 112,252 (3,140 ) 123,231 Residential (3 ) 398 (2 ) 69 (5 ) 467 Commercial (20 ) 1,972 (2 ) 79 (22 ) 2,051 Total mortgage-backed securities (65 ) 13,349 (3,102 ) 112,400 (3,167 ) 125,749 Corporate debt securities (64 ) 1,965 (26 ) 298 (90 ) 2,263 Collateralized loan and other debt obligations (388 ) 28,306 (8 ) 553 (396 ) 28,859 Other (7 ) 819 (6 ) 159 (13 ) 978 Total available-for-sale debt securities (598 ) 54,683 (3,620 ) 128,631 (4,218 ) 183,314 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies (3 ) 895 (412 ) 41,083 (415 ) 41,978 Securities of U.S. states and political subdivisions (4 ) 598 (112 ) 3,992 (116 ) 4,590 Federal agency and other mortgage-backed securities (5 ) 4,635 (2,283 ) 77,741 (2,288 ) 82,376 Total held-to-maturity debt securities (12 ) 6,128 (2,807 ) 122,816 (2,819 ) 128,944 Total $ (610 ) 60,811 (6,427 ) 251,447 (7,037 ) 312,258 |
Gross Unrealized Losses and Fair Value by Investment Grade | Table 5.3 shows the gross unrealized losses and fair value of the available-for-sale and held-to-maturity debt 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 debt security. Debt 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, debt securities rated below investment grade, labeled as “speculative grade” by the rating agencies, are considered to be distinctively higher credit risk than investment grade debt securities. We have also included debt securities not rated by S&P or Moody’s in the table below based on our internal credit grade of the debt 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 debt securities categorized as investment grade based on internal credit grades were $7 million and $2.2 billion , respectively, at December 31, 2019 , and $20 million and $5.2 billion , respectively, at December 31, 2018 . If an internal credit grade was not assigned, we categorized the debt security as non-investment grade. Table 5.3: 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 December 31, 2019 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ (1 ) 2,423 — — Securities of U.S. states and political subdivisions (32 ) 5,019 (4 ) 175 Mortgage-backed securities: Federal agencies (164 ) 27,448 — — Residential (1 ) 149 — — Commercial (3 ) 1,158 (3 ) 84 Total mortgage-backed securities (168 ) 28,755 (3 ) 84 Corporate debt securities (3 ) 155 (29 ) 364 Collateralized loan and other debt obligations (123 ) 21,859 — — Other (13 ) 1,499 (11 ) 580 Total available-for-sale debt securities (340 ) 59,710 (47 ) 1,203 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies (19 ) 989 — — Securities of U.S. states and political subdivisions (13 ) 670 — — Federal agency and other mortgage-backed securities (25 ) 5,428 (12 ) 428 Total held-to-maturity debt securities (57 ) 7,087 (12 ) 428 Total $ (397 ) 66,797 (59 ) 1,631 December 31, 2018 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ (106 ) 6,702 — — Securities of U.S. states and political subdivisions (425 ) 18,447 (21 ) 316 Mortgage-backed securities: Federal agencies (3,140 ) 123,231 — — Residential (2 ) 295 (3 ) 172 Commercial (20 ) 1,999 (2 ) 52 Total mortgage-backed securities (3,162 ) 125,525 (5 ) 224 Corporate debt securities (17 ) 791 (73 ) 1,472 Collateralized loan and other debt obligations (396 ) 28,859 — — Other (7 ) 726 (6 ) 252 Total available-for-sale debt securities (4,113 ) 181,050 (105 ) 2,264 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies (415 ) 41,978 — — Securities of U.S. states and political subdivisions (116 ) 4,590 — — Federal agency and other mortgage-backed securities (2,278 ) 81,977 (10 ) 399 Total held-to-maturity debt securities (2,809 ) 128,545 (10 ) 399 Total $ (6,922 ) 309,595 (115 ) 2,663 |
AFS and HTM Debt Securities Contractual Maturities | Table 5.4 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 5.4: Available-for-Sale Debt Securities – Fair Value by Contractual Maturity Remaining contractual maturity Total Within one year After one year After five years After ten years (in millions) amount Yield Amount Yield Amount Yield Amount Yield Amount Yield December 31, 2019 Available-for-sale debt securities (1): Fair value: Securities of U.S. Treasury and federal agencies $ 14,960 1.96 % $ 9,980 1.88 % $ 4,674 2.12 % $ 46 1.83 % $ 260 2.25 % Securities of U.S. states and political subdivisions 40,337 4.82 2,687 2.91 3,208 3.31 4,245 3.21 30,197 5.38 Mortgage-backed securities: Federal agencies 162,453 3.43 — — 152 3.40 1,326 2.52 160,975 3.44 Residential 827 2.78 — — — — — — 827 2.78 Commercial 3,934 3.44 — — 31 4.03 235 3.22 3,668 3.45 Total mortgage-backed securities 167,214 3.43 — — 183 3.51 1,561 2.62 165,470 3.43 Corporate debt securities 6,563 4.83 460 5.37 2,251 4.93 3,070 4.64 782 4.98 Collateralized loan and other debt obligations 29,695 3.33 — — — — 12,137 3.43 17,558 3.27 Other 4,690 2.57 35 4.16 687 3.15 1,408 1.80 2,560 2.81 Total available-for-sale debt securities at fair value $ 263,459 3.57 % $ 13,162 2.22 % $ 11,003 3.12 % $ 22,467 3.39 % $ 216,827 3.69 % (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 5.5 shows the amortized cost and weighted-average yields of held-to-maturity debt securities by contractual maturity. Table 5.5: Held-to-Maturity Debt Securities – 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 December 31, 2019 Held-to-maturity debt securities (1): Amortized cost: Securities of U.S. Treasury and federal agencies $ 45,541 2.12 % $ 1,296 1.75 % $ 42,242 2.13 % $ 1,244 2.00 % $ 759 2.33 % Securities of U.S. states and political subdivisions 13,486 4.89 — — 87 5.95 1,866 4.80 11,533 4.90 Federal agency and other mortgage-backed securities 94,869 3.08 — — 15 3.10 — — 94,854 3.08 Other debt securities 37 3.18 — — — — 37 3.18 — — Total held-to-maturity debt securities at amortized cost $ 153,933 2.95 % $ 1,296 1.75 % $ 42,344 2.14 % $ 3,147 3.68 % $ 107,146 3.27 % (1) Weighted-average yields displayed by maturity bucket are weighted based on amortized cost and predominantly represent contractual coupon rates. Table 5.6 shows the fair value of held-to-maturity debt securities by contractual maturity. Table 5.6: Held-to-Maturity Debt Securities – Fair Value by Contractual Maturity Remaining contractual maturity Total Within After one year through five years After five years After ten years (in millions) amount Amount Amount Amount Amount December 31, 2019 Held-to-maturity debt securities: Fair value: Securities of U.S. Treasury and federal agencies $ 46,139 1,301 42,830 1,268 740 Securities of U.S. states and political subdivisions 13,759 — 87 1,940 11,732 Federal agency and other mortgage-backed securities 96,925 — 15 — 96,910 Other debt securities 37 — — 37 — Total held-to-maturity debt securities at fair value $ 156,860 1,301 42,932 3,245 109,382 |
Realized Gains and Losses | Table 5.7 shows the gross realized gains and losses on sales and OTTI write-downs related to available-for-sale debt securities. Table 5.7: Realized Gains and Losses Year ended December 31, (in millions) 2019 2018 2017 Gross realized gains $ 227 155 948 Gross realized losses (24 ) (19 ) (207 ) OTTI write-downs (63 ) (28 ) (262 ) Net realized gains from available-for-sale debt securities $ 140 108 479 |
Detail of OTTI Write-downs | Table 5.8 shows the detail of total OTTI write-downs included in earnings for available-for-sale debt securities. There were no OTTI write-downs on held-to-maturity debt securities during the years ended December 31, 2019 , 2018 or 2017 . Table 5.8: Detail of OTTI Write-downs Year ended December 31, (in millions) 2019 2018 2017 Debt securities OTTI write-downs included in earnings: Securities of U.S. states and political subdivisions $ 33 2 150 Mortgage-backed securities: Residential — 4 11 Commercial 17 18 80 Corporate debt securities 13 — 21 Other debt securities — 4 — Total debt securities OTTI write-downs included in earnings $ 63 28 262 |
OTTI Write-downs Included in Earnings and the Related Change in OCI | Table 5.9 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 5.9: OTTI Write-downs Included in Earnings and the Related Changes in OCI Year ended December 31, (in millions) 2019 2018 2017 OTTI on debt securities Recorded as part of gross realized losses: Credit-related OTTI $ 27 27 119 Intent-to-sell OTTI 36 1 143 Total recorded as part of gross realized losses 63 28 262 Changes to OCI for losses (reversal of losses) in non-credit-related OTTI (1): Securities of U.S. states and political subdivisions (1 ) (2 ) (5 ) Residential mortgage-backed securities (1 ) 2 (1 ) Commercial mortgage-backed securities 2 (11 ) (51 ) Other debt securities 1 — — Total changes to OCI for non-credit-related OTTI 1 (11 ) (57 ) Total OTTI losses recorded on debt securities $ 64 17 205 (1) Represents amounts recorded to OCI for impairment of debt securities, due to factors other than credit 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 debt securities due to non-credit factors. |
Rollforward of OTTI Credit Loss | Table 5.10 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. We have not recognized OTTI on held-to-maturity debt securities we still own. 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 5.10: Rollforward of OTTI Credit Loss Year ended December 31, (in millions) 2019 2018 2017 Credit loss recognized, beginning of year $ 562 742 1,043 Additions: For securities with initial credit impairments 6 1 9 For securities with previous credit impairments 21 26 110 Total additions 27 27 119 Reductions: For securities sold, matured, or intended/required to be sold (390 ) (204 ) (414 ) For recoveries of previous credit impairments (1) — (3 ) (6 ) Total reductions (390 ) (207 ) (420 ) Credit loss recognized, end of year $ 199 562 742 (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 Credi_2
Loans and Allowance for Credit Losses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |
Loans Outstanding | Table 6.1 presents total loans outstanding by portfolio segment and class of financing receivable. Outstanding balances include unearned income, net deferred loan fees or costs, and unamortized discounts and premiums. These amounts were less than 1% of our total loans outstanding at December 31, 2019 , and December 31, 2018 . Table 6.1: Loans Outstanding December 31, (in millions) 2019 2018 2017 2016 2015 Commercial: Commercial and industrial $ 354,125 350,199 333,125 330,840 299,892 Real estate mortgage 121,824 121,014 126,599 132,491 122,160 Real estate construction 19,939 22,496 24,279 23,916 22,164 Lease financing 19,831 19,696 19,385 19,289 12,367 Total commercial 515,719 513,405 503,388 506,536 456,583 Consumer: Real estate 1-4 family first mortgage 293,847 285,065 284,054 275,579 273,869 Real estate 1-4 family junior lien mortgage 29,509 34,398 39,713 46,237 53,004 Credit card 41,013 39,025 37,976 36,700 34,039 Automobile 47,873 45,069 53,371 62,286 59,966 Other revolving credit and installment 34,304 36,148 38,268 40,266 39,098 Total consumer 446,546 439,705 453,382 461,068 459,976 Total loans $ 962,265 953,110 956,770 967,604 916,559 Our non-U.S. loans are reported by respective class of financing receivable in the table above. Substantially all of our non-U.S. loan portfolio is commercial loans. Table 6.2 presents total non-U.S. commercial loans outstanding by class of financing receivable. Table 6.2: Non-U.S. Commercial Loans Outstanding December 31, (in millions) 2019 2018 2017 2016 2015 Non-U.S. commercial loans: Commercial and industrial $ 70,494 62,564 60,106 55,396 49,049 Real estate mortgage 7,004 6,731 8,033 8,541 8,350 Real estate construction 1,434 1,011 655 375 444 Lease financing 1,220 1,159 1,126 972 274 Total non-U.S. commercial loans $ 80,152 71,465 69,920 65,284 58,117 |
Loans Purchases, Sales, and Transfers | Table 6.3 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 primarily includes loans purchased and sales of whole loan or participating interests, whereby we receive or transfer a portion of a loan. The table excludes PCI loans, loans for which we have elected the fair value option, and government insured/guaranteed real estate 1-4 family first mortgage loans because their loan activity normally does not impact the ACL. Table 6.3: Loan Purchases, Sales, and Transfers Year ended December 31, 2019 2018 (in millions) Commercial Consumer Total Commercial Consumer Total Purchases $ 2,028 3,126 5,154 2,065 16 2,081 Sales (1,797 ) (530 ) (2,327 ) (1,905 ) (261 ) (2,166 ) Transfers to MLHFS/LHFS (123 ) (1,889 ) (2,012 ) (617 ) (1,995 ) (2,612 ) |
Unfunded Credit Commitments | 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 6.4 . The table excludes the issued standby and commercial letters of credit and temporary advance arrangements described above. Table 6.4: Unfunded Credit Commitments (in millions) Dec 31, Dec 31, Commercial: Commercial and industrial $ 346,991 330,492 Real estate mortgage 8,206 6,984 Real estate construction 17,729 16,400 Total commercial 372,926 353,876 Consumer: Real estate 1-4 family first mortgage 34,391 29,736 Real estate 1-4 family junior lien mortgage 36,916 37,719 Credit card 114,933 109,840 Other revolving credit and installment 25,898 27,530 Total consumer 212,138 204,825 Total unfunded credit commitments $ 585,064 558,701 |
Allowance for Credit Losses | Table 6.5 presents the ACL, which consists of the allowance for loan losses and the allowance for unfunded credit commitments. Table 6.5: Allowance for Credit Losses Year ended December 31, (in millions) 2019 2018 2017 2016 2015 Balance, beginning of year $ 10,707 11,960 12,540 12,512 13,169 Provision for credit losses 2,687 1,744 2,528 3,770 2,442 Interest income on certain impaired loans (1) (147 ) (166 ) (186 ) (205 ) (198 ) Loan charge-offs: Commercial: Commercial and industrial (802 ) (727 ) (789 ) (1,419 ) (734 ) Real estate mortgage (38 ) (42 ) (38 ) (27 ) (59 ) Real estate construction (1 ) — — (1 ) (4 ) Lease financing (70 ) (70 ) (45 ) (41 ) (14 ) Total commercial (911 ) (839 ) (872 ) (1,488 ) (811 ) Consumer: Real estate 1-4 family first mortgage (129 ) (179 ) (240 ) (452 ) (507 ) Real estate 1-4 family junior lien mortgage (118 ) (179 ) (279 ) (495 ) (635 ) Credit card (1,714 ) (1,599 ) (1,481 ) (1,259 ) (1,116 ) Automobile (647 ) (947 ) (1,002 ) (845 ) (742 ) Other revolving credit and installment (674 ) (685 ) (713 ) (708 ) (643 ) Total consumer (3,282 ) (3,589 ) (3,715 ) (3,759 ) (3,643 ) Total loan charge-offs (4,193 ) (4,428 ) (4,587 ) (5,247 ) (4,454 ) Loan recoveries: Commercial: Commercial and industrial 195 304 297 263 252 Real estate mortgage 32 70 82 116 127 Real estate construction 13 13 30 38 37 Lease financing 19 23 17 11 8 Total commercial 259 410 426 428 424 Consumer: Real estate 1-4 family first mortgage 179 267 288 373 245 Real estate 1-4 family junior lien mortgage 184 219 266 266 259 Credit card 344 307 239 207 175 Automobile 341 363 319 325 325 Other revolving credit and installment 124 118 121 128 134 Total consumer 1,172 1,274 1,233 1,299 1,138 Total loan recoveries 1,431 1,684 1,659 1,727 1,562 Net loan charge-offs (2,762 ) (2,744 ) (2,928 ) (3,520 ) (2,892 ) Other (29 ) (87 ) 6 (17 ) (9 ) Balance, end of year $ 10,456 10,707 11,960 12,540 12,512 Components: Allowance for loan losses $ 9,551 9,775 11,004 11,419 11,545 Allowance for unfunded credit commitments 905 932 956 1,121 967 Allowance for credit losses $ 10,456 10,707 11,960 12,540 12,512 Net loan charge-offs as a percentage of average total loans 0.29 % 0.29 0.31 0.37 0.33 Allowance for loan losses as a percentage of total loans 0.99 1.03 1.15 1.18 1.26 Allowance for credit losses as a percentage of total loans 1.09 1.12 1.25 1.30 1.37 (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. |
Allowance for Credit Losses Activity by Portfolio Segment | Table 6.6 summarizes the activity in the ACL by our commercial and consumer portfolio segments. Table 6.6: Allowance for Credit Losses Activity by Portfolio Segment Year ended December 31, 2019 2018 (in millions) Commercial Consumer Total Commercial Consumer Total Balance, beginning of year $ 6,417 4,290 10,707 6,632 5,328 11,960 Provision for credit losses 518 2,169 2,687 281 1,463 1,744 Interest income on certain impaired loans (46 ) (101 ) (147 ) (47 ) (119 ) (166 ) Loan charge-offs (911 ) (3,282 ) (4,193 ) (839 ) (3,589 ) (4,428 ) Loan recoveries 259 1,172 1,431 410 1,274 1,684 Net loan charge-offs (652 ) (2,110 ) (2,762 ) (429 ) (2,315 ) (2,744 ) Other 8 (37 ) (29 ) (20 ) (67 ) (87 ) Balance, end of year $ 6,245 4,211 10,456 6,417 4,290 10,707 |
Allowance for Credit Losses by Impairment Methodology | Table 6.7 disaggregates our ACL and recorded investment in loans by impairment methodology. Table 6.7: Allowance for Credit Losses by Impairment Methodology Allowance for credit losses Recorded investment in loans (in millions) Commercial Consumer Total Commercial Consumer Total December 31, 2019 Collectively evaluated (1) $ 5,778 3,364 9,142 512,586 436,081 948,667 Individually evaluated (2) 467 847 1,314 3,133 9,897 13,030 PCI (3) — — — — 568 568 Total $ 6,245 4,211 10,456 515,719 446,546 962,265 December 31, 2018 Collectively evaluated (1) $ 5,903 3,361 9,264 510,180 421,574 931,754 Individually evaluated (2) 514 929 1,443 3,221 13,126 16,347 PCI (3) — — — 4 5,005 5,009 Total $ 6,417 4,290 10,707 513,405 439,705 953,110 (1) Represents non-impaired loans evaluated collectively for impairment. (2) Represents impaired loans evaluated individually for impairment. (3) Represents the allowance for loan losses and related loan carrying value for PCI loans. |
Commercial Loans by Risk Category | Table 6.8 provides a breakdown of outstanding commercial loans by risk category. Table 6.8: Commercial Loans by Risk Category (in millions) Commercial and industrial Real estate mortgage Real estate construction Lease financing Total December 31, 2019 By risk category: Pass $ 338,740 118,054 19,752 18,655 495,201 Criticized 15,385 3,770 187 1,176 20,518 Total commercial loans (excluding PCI) 354,125 121,824 19,939 19,831 515,719 Total commercial PCI loans (carrying value) — — — — — Total commercial loans $ 354,125 121,824 19,939 19,831 515,719 December 31, 2018 By risk category: Pass $ 335,412 116,514 22,207 18,671 492,804 Criticized 14,783 4,500 289 1,025 20,597 Total commercial loans (excluding PCI) 350,195 121,014 22,496 19,696 513,401 Total commercial PCI loans (carrying value) 4 — — — 4 Total commercial loans $ 350,199 121,014 22,496 19,696 513,405 |
Commercial Loans by Delinquency Status | Table 6.9 provides past due information for commercial loans, which we monitor as part of our credit risk management practices. Table 6.9: Commercial Loans by Delinquency Status (in millions) Commercial and industrial Real estate mortgage Real estate construction Lease financing Total December 31, 2019 By delinquency status: Current-29 days past due (DPD) and still accruing $ 352,110 120,967 19,845 19,484 512,406 30-89 DPD and still accruing 423 253 53 252 981 90+ DPD and still accruing 47 31 — — 78 Nonaccrual loans 1,545 573 41 95 2,254 Total commercial loans (excluding PCI) 354,125 121,824 19,939 19,831 515,719 Total commercial PCI loans (carrying value) — — — — — Total commercial loans $ 354,125 121,824 19,939 19,831 515,719 December 31, 2018 By delinquency status: Current-29 DPD and still accruing $ 348,158 120,176 22,411 19,443 510,188 30-89 DPD and still accruing 508 207 53 163 931 90+ DPD and still accruing 43 51 — — 94 Nonaccrual loans 1,486 580 32 90 2,188 Total commercial loans (excluding PCI) 350,195 121,014 22,496 19,696 513,401 Total commercial PCI loans (carrying value) 4 — — — 4 Total commercial loans $ 350,199 121,014 22,496 19,696 513,405 |
Consumer Loans by Delinquency Status | Table 6.10 provides the outstanding balances of our consumer portfolio by delinquency status. Table 6.10: 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 December 31, 2019 By delinquency status: Current-29 DPD $ 279,722 28,870 39,935 46,650 33,981 429,158 30-59 DPD 1,136 216 311 882 140 2,685 60-89 DPD 404 115 221 263 81 1,084 90-119 DPD 197 69 202 77 74 619 120-179 DPD 160 71 343 1 18 593 180+ DPD 503 155 1 — 10 669 Government insured/guaranteed loans (1) 10,999 — — — — 10,999 Loans held at fair value 171 — — — — 171 Total consumer loans (excluding PCI) 293,292 29,496 41,013 47,873 34,304 445,978 Total consumer PCI loans (carrying value) (2) 555 13 — — — 568 Total consumer loans $ 293,847 29,509 41,013 47,873 34,304 446,546 December 31, 2018 By delinquency status: Current-29 DPD $ 263,881 33,644 38,008 43,604 35,794 414,931 30-59 DPD 1,411 247 292 1,040 140 3,130 60-89 DPD 549 126 212 314 87 1,288 90-119 DPD 257 74 192 109 80 712 120-179 DPD 225 77 320 2 27 651 180+ DPD 822 213 1 — 20 1,056 Government insured/guaranteed loans (1) 12,688 — — — — 12,688 Loans held at fair value 244 — — — — 244 Total consumer loans (excluding PCI) 280,077 34,381 39,025 45,069 36,148 434,700 Total consumer PCI loans (carrying value) (2) 4,988 17 — — — 5,005 Total consumer loans $ 285,065 34,398 39,025 45,069 36,148 439,705 (1) Represents loans whose repayments are predominantly insured by the Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA). Loans insured/guaranteed by the FHA/VA and 90+ DPD totaled $6.4 billion at December 31, 2019 , compared with $7.7 billion at December 31, 2018 . (2) 26% of the adjusted unpaid principal balance for consumer PCI loans are 30+ DPD at December 31, 2019 , compared with 18% at December 31, 2018 . |
Consumer Loans by FICO | Table 6.11 provides a breakdown of our consumer portfolio by FICO. Substantially all 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 $9.1 billion at December 31, 2019 , and $8.9 billion at December 31, 2018 . Table 6.11: Consumer Loans by FICO (in millions) Real estate 1-4 family first mortgage Real estate 1-4 family junior lien mortgage Credit card Automobile Other revolving credit and installment Total December 31, 2019 By FICO: < 600 $ 3,264 1,164 3,373 6,041 704 14,546 600-639 2,392 782 2,853 4,230 670 10,927 640-679 5,068 1,499 6,626 6,324 1,730 21,247 680-719 12,844 3,192 9,732 7,871 3,212 36,851 720-759 27,879 4,407 8,376 7,839 4,097 52,598 760-799 61,559 5,483 5,648 7,624 4,915 85,229 800+ 165,460 11,851 4,037 7,900 7,585 196,833 No FICO available 3,656 1,118 368 44 2,316 7,502 FICO not required — — — — 9,075 9,075 Government insured/guaranteed loans (1) 11,170 — — — — 11,170 Total consumer loans (excluding PCI) 293,292 29,496 41,013 47,873 34,304 445,978 Total consumer PCI loans (carrying value) (2) 555 13 — — — 568 Total consumer loans $ 293,847 29,509 41,013 47,873 34,304 446,546 December 31, 2018 By FICO: < 600 $ 4,273 1,454 3,292 7,071 697 16,787 600-639 2,974 994 2,777 4,431 725 11,901 640-679 5,810 1,898 6,464 6,225 1,822 22,219 680-719 13,568 3,908 9,445 7,354 3,384 37,659 720-759 27,258 5,323 7,949 6,853 4,395 51,778 760-799 57,193 6,315 5,227 5,947 5,322 80,004 800+ 151,465 13,190 3,794 7,099 8,411 183,959 No FICO available 4,604 1,299 77 89 2,507 8,576 FICO not required — — — — 8,885 8,885 Government insured/guaranteed loans (1) 12,932 — — — — 12,932 Total consumer loans (excluding PCI) 280,077 34,381 39,025 45,069 36,148 434,700 Total consumer PCI loans (carrying value) (2) 4,988 17 — — — 5,005 Total consumer loans $ 285,065 34,398 39,025 45,069 36,148 439,705 (1) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. (2) 41% of the adjusted unpaid principal balance for consumer PCI loans have FICO scores less than 680 and 19% where no FICO is available to us at December 31, 2019 , compared with 45% and 15% , respectively, at December 31, 2018 . |
Consumer Loans by LTV/CLTV | Table 6.12 shows the most updated LTV and CLTV distribution of the real estate 1-4 family mortgage loan portfolios. We consider the trends in residential real estate markets as we monitor credit risk and establish our ACL. 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 6.12: Consumer Loans by LTV/CLTV December 31, 2019 December 31, 2018 (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% $ 151,478 14,603 166,081 147,666 15,753 163,419 60.01-80% 114,795 9,663 124,458 104,477 11,183 115,660 80.01-100% 13,867 3,574 17,441 12,372 4,874 17,246 100.01-120% (1) 860 978 1,838 1,211 1,596 2,807 > 120% (1) 338 336 674 484 578 1,062 No LTV/CLTV available 784 342 1,126 935 397 1,332 Government insured/guaranteed loans (2) 11,170 — 11,170 12,932 — 12,932 Total consumer loans (excluding PCI) 293,292 29,496 322,788 280,077 34,381 314,458 Total consumer PCI loans (carrying value) (3) 555 13 568 4,988 17 5,005 Total consumer loans $ 293,847 29,509 323,356 285,065 34,398 319,463 (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. (3) 9% of the adjusted unpaid principal balance for consumer PCI loans have LTV/CLTV amounts greater than 80% at December 31, 2019 , compared with 10% at December 31, 2018 . |
Nonaccrual Loans | Table 6.13 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 6.13: Nonaccrual Loans Dec 31, Dec 31, (in millions) 2019 2018 Commercial: Commercial and industrial $ 1,545 1,486 Real estate mortgage 573 580 Real estate construction 41 32 Lease financing 95 90 Total commercial 2,254 2,188 Consumer: Real estate 1-4 family first mortgage 2,150 3,183 Real estate 1-4 family junior lien mortgage 796 945 Automobile 106 130 Other revolving credit and installment 40 50 Total consumer 3,092 4,308 Total nonaccrual loans (excluding PCI) $ 5,346 6,496 |
Loans 90 days or More Past Due and Still Accruing | Table 6.14 shows non-PCI loans 90 days or more past due and still accruing by class for loans not government insured/guaranteed. Table 6.14: Loans 90 Days or More Past Due and Still Accruing Dec 31, Dec 31, (in millions) 2019 2018 Total (excluding PCI): $ 7,285 8,704 Less: FHA insured/VA guaranteed (1) 6,352 7,725 Total, not government insured/guaranteed $ 933 979 By segment and class, not government insured/guaranteed: Commercial: Commercial and industrial $ 47 43 Real estate mortgage 31 51 Total commercial 78 94 Consumer: Real estate 1-4 family first mortgage 112 124 Real estate 1-4 family junior lien mortgage 32 32 Credit card 546 513 Automobile 78 114 Other revolving credit and installment 87 102 Total consumer 855 885 Total, not government insured/guaranteed $ 933 979 (1) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. |
Impaired Loans Summary | Table 6.15 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. Impaired loans generally have estimated losses which are included in the ACL. We do have impaired loans with no ACL when the loss content has been previously recognized through charge-offs, such as collateral dependent loans, or when loans are currently performing in accordance with their terms and no loss has been estimated. Impaired loans exclude PCI loans and loans that have been fully charged off or otherwise have zero recorded investment. Table 6.15 includes trial modifications that totaled $115 million at December 31, 2019 , and $149 million at December 31, 2018 . For additional information on our impaired loans and ACL, see Note 1 (Summary of Significant Accounting Policies). Table 6.15: Impaired Loans Summary Recorded investment (in millions) Unpaid principal balance Impaired loans Impaired loans with related allowance for credit losses Related allowance for credit losses December 31, 2019 Commercial: Commercial and industrial $ 2,792 2,003 1,903 311 Real estate mortgage 1,137 974 803 110 Real estate construction 81 51 41 11 Lease financing 131 105 105 35 Total commercial 4,141 3,133 2,852 467 Consumer: Real estate 1-4 family first mortgage (1) 8,107 7,674 4,433 437 Real estate 1-4 family junior lien mortgage 1,586 1,451 925 144 Credit card 520 520 520 209 Automobile 138 81 42 8 Other revolving credit and installment 178 171 155 49 Total consumer (2) 10,529 9,897 6,075 847 Total impaired loans (excluding PCI) $ 14,670 13,030 8,927 1,314 December 31, 2018 Commercial: Commercial and industrial $ 3,057 2,030 1,730 319 Real estate mortgage 1,228 1,032 1,009 154 Real estate construction 74 47 46 9 Lease financing 146 112 112 32 Total commercial 4,505 3,221 2,897 514 Consumer: Real estate 1-4 family first mortgage 12,309 10,738 4,420 525 Real estate 1-4 family junior lien mortgage 1,886 1,694 1,133 183 Credit card 449 449 449 172 Automobile 153 89 43 8 Other revolving credit and installment 162 156 136 41 Total consumer (2) 14,959 13,126 6,181 929 Total impaired loans (excluding PCI) $ 19,464 16,347 9,078 1,443 (1) Impaired loans includes reduction of $1.7 billion reclassified to MLHFS during 2019. (2) Includes the recorded investment of $1.2 billion and $1.3 billion at December 31, 2019 and 2018 , respectively, of government insured/guaranteed loans that are predominantly insured by the FHA or guaranteed by the VA and generally do not have an ACL. Impaired loans may also have limited, if any, ACL when the recorded investment of the loan approximates estimated net realizable value as a result of charge-offs prior to a TDR modification. |
Average Recorded Investment in Impaired Loans | Table 6.16 provides the average recorded investment in impaired loans and the amount of interest income recognized on impaired loans by portfolio segment and class. Table 6.16: Average Recorded Investment in Impaired Loans Year ended December 31, 2019 2018 2017 (in millions) Average recorded investment Recognized interest income Average recorded investment Recognized interest income Average recorded investment Recognized interest income Commercial: Commercial and industrial $ 2,150 129 2,287 173 3,241 118 Real estate mortgage 1,067 59 1,193 89 1,328 91 Real estate construction 52 6 60 7 66 14 Lease financing 93 1 125 1 105 1 Total commercial 3,362 195 3,665 270 4,740 224 Consumer: Real estate 1-4 family first mortgage 9,031 506 11,522 664 13,326 730 Real estate 1-4 family junior lien mortgage 1,586 99 1,804 116 2,041 121 Credit card 488 64 407 50 323 36 Automobile 84 12 86 11 86 11 Other revolving credit and installment 162 13 142 10 117 8 Total consumer 11,351 694 13,961 851 15,893 906 Total impaired loans (excluding PCI) $ 14,713 889 17,626 1,121 20,633 1,130 Interest income: Cash basis of accounting $ 241 338 299 Other (1) 648 783 831 Total interest income $ 889 1,121 1,130 (1) Includes interest recognized on accruing TDRs, interest recognized related to certain impaired loans which have an ACL calculated using discounting, and amortization of purchase accounting adjustments related to certain impaired loans. |
TDR Modifications | Table 6.17 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 are paid off or written-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 6.17: 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) Year ended December 31, 2019 Commercial: Commercial and industrial $ 13 90 1,286 1,389 104 0.40 % $ 90 Real estate mortgage — 38 417 455 — 0.69 38 Real estate construction 13 1 32 46 — 1.00 1 Lease financing — — 2 2 — — — Total commercial 26 129 1,737 1,892 104 0.49 129 Consumer: Real estate 1-4 family first mortgage 110 13 868 991 2 2.04 68 Real estate 1-4 family junior lien mortgage 5 37 82 124 3 2.35 39 Credit card — 376 — 376 — 12.91 376 Automobile 8 9 51 68 29 4.86 9 Other revolving credit and installment 1 51 7 59 — 8.07 52 Trial modifications (6) — — 13 13 — — — Total consumer 124 486 1,021 1,631 34 10.19 544 Total $ 150 615 2,758 3,523 138 8.33 % $ 673 Year ended December 31, 2018 Commercial: Commercial and industrial $ 13 29 2,310 2,352 58 1.18 % $ 29 Real estate mortgage — 44 375 419 — 0.88 44 Real estate construction — — 25 25 — — — Lease financing — — 63 63 — — — Total commercial 13 73 2,773 2,859 58 1.00 73 Consumer: Real estate 1-4 family first mortgage 209 26 1,042 1,277 4 2.25 119 Real estate 1-4 family junior lien mortgage 7 41 113 161 5 2.14 45 Credit card — 336 — 336 — 12.54 336 Automobile 13 16 55 84 30 6.21 16 Other revolving credit and installment — 49 12 61 — 7.95 49 Trial modifications (6) — — 8 8 — — — Total consumer 229 468 1,230 1,927 39 8.96 565 Total $ 242 541 4,003 4,786 97 8.06 % $ 638 Year ended December 31, 2017 Commercial: Commercial and industrial $ 24 45 2,912 2,981 173 0.64 % $ 45 Real estate mortgage 5 59 507 571 20 1.28 59 Real estate construction — 1 26 27 — 0.69 1 Lease financing — — 37 37 — — — Total commercial 29 105 3,482 3,616 193 1.00 105 Consumer: Real estate 1-4 family first mortgage 231 140 1,035 1,406 15 2.57 257 Real estate 1-4 family junior lien mortgage 25 82 81 188 14 3.26 93 Credit card — 257 — 257 — 11.98 257 Automobile 2 15 67 84 39 5.89 15 Other revolving credit and installment — 47 8 55 1 7.47 47 Trial modifications (6) — — (28 ) (28 ) — — — Total consumer 258 541 1,163 1,962 69 6.70 669 Total $ 287 646 4,645 5,578 262 5.92 % $ 774 (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 $1.1 billion , $1.9 billion and $2.1 billion , for the years ended December 31, 2019 , 2018 and 2017 , 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 deferring or legally forgiving principal (actual or contingent) of $24 million , $28 million and $32 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. (5) Recorded investment related to interest rate reduction 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. |
Defaulted TDRs | Table 6.18 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 6.18: Defaulted TDRs Recorded investment of defaults Year ended December 31, (in millions) 2019 2018 2017 Commercial: Commercial and industrial $ 111 198 173 Real estate mortgage 48 76 61 Real estate construction 17 36 4 Lease financing — — 1 Total commercial 176 310 239 Consumer: Real estate 1-4 family first mortgage 41 60 114 Real estate 1-4 family junior lien mortgage 13 14 19 Credit card 88 79 74 Automobile 12 14 15 Other revolving credit and installment 8 6 5 Total consumer 162 173 227 Total $ 338 483 466 |
PCI Loans | Table 6.19 presents PCI loans net of any remaining purchase accounting adjustments. Total consumer loans are predominantly Pick-a-Pay loans (real estate 1-4 family mortgage). Table 6.19: PCI Loans Dec 31, Dec 31, (in millions) 2019 2018 Total commercial $ — 4 Total consumer 568 5,005 Total PCI loans (carrying value) $ 568 5,009 Total PCI loans (unpaid principal balance) $ 990 7,348 |
Leasing Activity (Tables)
Leasing Activity (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Lessor Disclosure [Abstract] | |
Leasing Revenue | Table 7.1: Leasing Revenue (in millions) Year ended December 31, 2019 Interest income on lease financing $ 869 Other lease revenues: Variable revenues on lease financing 96 Fixed revenues on operating leases 1,393 Variable revenues on operating leases 66 Other lease-related revenues (1) 57 Lease income 1,612 Total leasing revenue $ 2,481 (1) Predominantly includes net gains on disposition of assets leased under operating leases or lease financings. |
Investment in Lease Financing | Table 7.2: Investment in Lease Financing (in millions) Dec 31, 2019 Lease receivables $ 18,114 Residual asset values 4,208 Unearned income (2,491 ) Lease financing $ 19,831 |
Maturities of Lease Receivables | Table 7.3 presents future lease payments owed by our lessees. Table 7.3: Maturities of Lease Receivables December 31, 2019 (in millions) Direct financing and sales- type leases Operating leases 2020 $ 5,953 883 2021 4,997 614 2022 2,951 434 2023 1,634 298 2024 862 199 Thereafter 1,717 447 Total lease receivables $ 18,114 2,875 |
Lessee Disclosure [Abstract] | |
Operating Lease Right of Use (ROU) Assets and Lease Liabilities | Table 7.4 presents balances for our operating leases. Table 7.4: Operating Lease Right of Use (ROU) Assets and Lease Liabilities (in millions) Dec 31, 2019 ROU assets $ 4,724 Lease liabilities 5,297 |
Lease Costs | Table 7.5 provides the composition of our lease costs, which are predominantly included in net occupancy expense. Table 7.5: Lease Costs (in millions) Year ended December 31, 2019 Fixed lease expense - operating leases $ 1,212 Variable lease expense 314 Other (1) (68 ) Total lease costs $ 1,458 (1) |
Lease Payments on Operating Leases Prior to Adoption of ASU 2016-02 - Leases | Table 7.6: Lease Payments on Operating Leases Prior to Adoption of ASU 2016-02 – Leases (in millions) December 31, 2018 2019 $ 1,174 2020 1,056 2021 880 2022 713 2023 577 Thereafter 1,654 Total lease payments $ 6,054 |
Lease Payments on Operating Leases Subsequent to Adoption of ASU 2016-02 - Leases | Table 7.7: Lease Payments on Operating Leases Subsequent to Adoption of ASU 2016-02 – Leases (in millions, except for weighted averages) December 31, 2019 2020 $ 1,006 2021 1,045 2022 897 2023 750 2024 597 Thereafter 1,672 Total lease payments 5,967 Less: imputed interest 670 Total operating lease liabilities $ 5,297 Weighted average remaining lease term (in years) 7.1 Weighted average discount rate 3.1 % |
Equity Securities (Tables)
Equity Securities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Equity Securities [Abstract] | |
Equity Securities | Table 8.1 provides a summary of our equity securities by business purpose and accounting method, including equity securities with readily determinable fair values (marketable) and those without readily determinable fair values (nonmarketable). Table 8.1: Equity Securities (in millions) Dec 31, Dec 31, Held for trading at fair value: Marketable equity securities $ 27,440 19,449 Not held for trading: Fair value: Marketable equity securities (1) 6,481 4,513 Nonmarketable equity securities 8,015 5,594 Total equity securities at fair value 14,496 10,107 Equity method: Low-income housing tax credit investments 11,343 10,999 Private equity 3,459 3,832 Tax-advantaged renewable energy 3,811 3,073 New market tax credit and other 387 311 Total equity method 19,000 18,215 Other: Federal Reserve Bank stock and other at cost (2) 4,790 5,643 Private equity (3) 2,515 1,734 Total equity securities not held for trading 40,801 35,699 Total equity securities $ 68,241 55,148 (1) Includes $3.8 billion and $3.2 billion at December 31, 2019 and 2018 , respectively, related to securities held as economic hedges of our deferred compensation plan obligations. (2) Includes $4.8 billion and $5.6 billion at December 31, 2019 and 2018 , respectively, related to investments in Federal Reserve Bank and Federal Home Loan Bank stock. (3) Represents nonmarketable equity securities accounted for under the measurement alternative. |
Net Gains (Losses) from Equity Securities Not Held for Trading | Table 8.2 provides a summary of the net gains and losses for equity securities not held for trading. Gains and losses for securities held for trading are reported in net gains from trading activities. Table 8.2: Net Gains (Losses) from Equity Securities Not Held for Trading Year ended December 31, (in millions) 2019 2018 2017 Net gains (losses) from equity securities carried at fair value: Marketable equity securities $ 1,067 (389 ) 967 Nonmarketable equity securities 2,413 709 1,557 Total equity securities carried at fair value 3,480 320 2,524 Net gains (losses) from nonmarketable equity securities not carried at fair value: Impairment write-downs (245 ) (352 ) (339 ) Net unrealized gains related to measurement alternative observable transactions 567 418 — Net realized gains on sale 1,161 1,504 980 All other — 33 97 Total nonmarketable equity securities not carried at fair value 1,483 1,603 738 Net losses from economic hedge derivatives (1) (2,120 ) (408 ) (1,483 ) Total net gains from equity securities not held for trading $ 2,843 1,515 1,779 (1) Includes net gains (losses) on derivatives not designated as hedging instruments. |
Gains (Losses) from Measurement Alternative Equity Securities | Table 8.3 provides additional information about the impairment write-downs and observable price adjustments related to nonmarketable equity securities accounted for under the measurement alternative. Gains and losses related to these adjustments are also included in Table 8.2 . Table 8.3: Net Gains (Losses) from Measurement Alternative Equity Securities Year ended December 31, (in millions) 2019 2018 Net gains (losses) recognized in earnings during the period: Gross unrealized gains due to observable price changes $ 584 443 Gross unrealized losses due to observable price changes (17 ) (25 ) Impairment write-downs (116 ) (33 ) Realized net gains from sale 163 274 Total net gains recognized during the period $ 614 659 Table 8.4 presents cumulative carrying value adjustments to nonmarketable equity securities accounted for under the measurement alternative that were still held as of December 31, 2019 and 2018 . Table 8.4: Measurement Alternative Cumulative Gains (Losses) Year ended December 31, (in millions) 2019 2018 Cumulative gains (losses): Gross unrealized gains due to observable price changes $ 973 415 Gross unrealized losses due to observable price changes (42 ) (25 ) Impairment write-downs (134 ) (33 ) |
Premises, Equipment and Other_2
Premises, Equipment and Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Premises, Equipment And Other Assets [Abstract] | |
Premises and Equipment | Table 9.1: Premises and Equipment (in millions) Dec 31, 2019 Dec 31, 2018 Land $ 1,857 1,757 Buildings 9,499 8,974 Furniture and equipment 7,189 6,896 Leasehold improvements 2,597 2,387 Finance lease ROU assets 33 75 Total premises and equipment 21,175 20,089 Less: Accumulated depreciation and amortization 11,866 11,169 Net book value, premises and equipment $ 9,309 8,920 |
Other Assets | Table 9.2 presents the components of other assets. Table 9.2: Other Assets (in millions) Dec 31, 2019 Dec 31, 2018 Corporate/bank-owned life insurance $ 20,070 19,751 Accounts receivable (1) 29,137 34,281 Interest receivable 5,586 6,084 Customer relationship and other amortized intangibles 423 545 Foreclosed assets: Residential real estate: Government insured/guaranteed (1) 50 88 Non-government insured/guaranteed 172 229 Other 81 134 Operating lease assets (lessor) 8,221 9,036 Operating lease ROU assets (lessee) (2) 4,724 — Due from customers on acceptances 253 258 Other 10,200 9,444 Total other assets $ 78,917 79,850 (1) Certain government-guaranteed residential real estate mortgage loans upon foreclosure are included in Accounts receivable. For more information, see Note 1 (Summary of Significant Accounting Policies). (2) We recognized operating lease right of use (ROU) assets effective January 1, 2019, in connection with the adoption of ASU 2016-02 – Leases. For more information, see Note 1 (Summary of Significant Accounting Policies). |
Securitizations and Variable _2
Securitizations and Variable Interest Entities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Securitizations and Variable Interest Entities [Abstract] | |
Balance Sheet Transactions With VIEs | Table 10.1 provides the classifications of assets and liabilities in our balance sheet for our transactions with VIEs. Table 10.1: Balance Sheet Transactions with VIEs (in millions) VIEs that we do not consolidate VIEs that we consolidate (2) Transfers that we account for as secured borrowings (2) Total December 31, 2019 Cash and due from banks $ — 16 — 16 Interest-earning deposits with banks — 284 — 284 Debt securities (1): Trading debt securities 792 339 — 1,131 Available-for-sale debt securities 1,696 201 — 1,897 Held-to-maturity debt securities 791 — — 791 Loans 2,127 13,170 80 15,377 Mortgage servicing rights 11,884 — — 11,884 Derivative assets 142 1 — 143 Equity securities 11,401 118 — 11,519 Other assets 1,268 239 — 1,507 Total assets 30,101 14,368 80 44,549 Short-term borrowings — 401 — 401 Derivative liabilities 1 3 — 4 Accrued expenses and other liabilities 189 235 — 424 Long-term debt 4,817 587 79 5,483 Total liabilities 5,007 1,226 79 6,312 Noncontrolling interests — 43 — 43 Net assets $ 25,094 13,099 1 38,194 December 31, 2018 Cash and due from banks $ — 139 — 139 Interest-earning deposits with banks — 8 — 8 Debt securities (1): Trading debt securities 2,110 245 — 2,355 Available-for-sale debt securities 2,686 317 — 3,003 Held-to-maturity debt securities 510 — — 510 Loans 2,657 13,564 94 16,315 Mortgage servicing rights 14,761 — — 14,761 Derivative assets 53 — — 53 Equity securities 11,041 85 — 11,126 Other assets — 227 — 227 Total assets 33,818 14,585 94 48,497 Short-term borrowings — 493 — 493 Derivative liabilities 26 — — 26 Accrued expenses and other liabilities 231 199 — 430 Long-term debt 5,094 816 93 6,003 Total liabilities 5,351 1,508 93 6,952 Noncontrolling interests — 34 — 34 Net assets $ 28,467 13,043 1 41,511 (1) Excludes certain debt securities related to loans serviced for the Federal National Mortgage Association (FNMA), Federal Home Loan Mortgage Corporation (FHLMC) and Government National Mortgage Association (GNMA). (2) Certain structures included in transfers that we account for as secured borrowings at December 31, 2018 were presented in VIEs that we consolidate to conform with the current period presentation. |
Unconsolidated VIEs | Table 10.2 provides a summary of our exposure to unconsolidated VIEs with which we have significant continuing involvement but for which we are not the primary beneficiary. We include transactions where we were the sponsor or servicer and also have other significant forms of continuing involvement. Sponsorship includes transactions where we solely or materially participated in the initial design or structuring of the VIE or marketed the transaction to investors. We consider investments in securities, loans, guarantees, liquidity agreements, commitments and certain derivatives to be other forms of continuing involvement that may be significant. We also include transactions where we transferred assets to a VIE, account for the transfer as a sale, and service the VIE collateral or have other forms of continuing involvement that may be significant (as described above). We exclude certain transactions with unconsolidated VIEs when our continuing involvement is temporary in nature or insignificant in size. We also exclude 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 10.2: Unconsolidated VIEs Carrying value – asset (liability) (in millions) Total VIE assets Debt and equity interests (1) Servicing assets and advances Derivatives Debt, guarantees and other commitments Net assets December 31, 2019 Residential mortgage loan securitizations: Conforming (2) $ 1,098,103 1,528 11,931 — (683 ) 12,776 Other/nonconforming 5,178 6 152 — — 158 Commercial mortgage loan securitizations 169,736 2,239 1,069 80 (43 ) 3,345 Tax credit structures 39,091 12,826 — — (4,260 ) 8,566 Other asset-based finance structures 1,355 157 — 61 (20 ) 198 Other 1,167 51 — — — 51 Total $ 1,314,630 16,807 13,152 141 (5,006 ) 25,094 Maximum exposure to loss Debt and equity interests (1) Servicing assets and advances Derivatives Guarantees and other commitments Total exposure Residential mortgage loan securitizations: Conforming (2) $ 972 11,931 — 937 13,840 Other/nonconforming 6 152 — — 158 Commercial mortgage loan securitizations 2,239 1,069 80 11,667 15,055 Tax credit structures 12,826 — — 1,701 14,527 Other asset-based finance structures 157 — 63 91 311 Other 51 — — 157 208 Total $ 16,251 13,152 143 14,553 44,099 (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 Debt, guarantees and other commitments Net assets December 31, 2018 Residential mortgage loan securitizations: Conforming (2) $ 1,172,833 3,601 13,811 — (1,395 ) 16,017 Other/nonconforming 10,596 453 57 — — 510 Commercial mortgage loan securitizations 153,350 2,409 893 (22 ) (40 ) 3,240 Tax credit structures 35,185 12,087 — — (3,870 ) 8,217 Other asset-based finance structures 1,520 271 — 49 (20 ) 300 Other 1,318 183 — — — 183 Total $ 1,374,802 19,004 14,761 27 (5,325 ) 28,467 Maximum exposure to loss Debt and equity interests (1) Servicing assets Derivatives Guarantees and other commitments Total exposure Residential mortgage loan securitizations: Conforming (2) $ 2,377 13,811 — 1,183 17,371 Other/nonconforming 453 57 — — 510 Commercial mortgage loan securitizations 2,409 893 28 11,563 14,893 Tax credit structures 12,087 — — 1,420 13,507 Other asset-based finance structures 271 — 50 91 412 Other 183 — — 158 341 Total $ 17,780 14,761 78 14,415 47,034 (1) Includes total equity interests of $11.4 billion and $11.0 billion at December 31, 2019 and 2018 , 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) Carrying values include assets and related liabilities of $556 million and $1.2 billion at December 31, 2019 and 2018 , respectively, related to certain unexercised unconditional repurchase options. These amounts represent the carrying value of the loans and associated debt that would be payable if the option was exercised to repurchase eligible loans from GNMA loan securitizations. These amounts are excluded from maximum exposure to loss as we are not obligated to exercise the options. |
Transfers With Continuing Involvement | Table 10.3 presents information about transfers during the period of assets to unconsolidated VIEs or third-party investors for which we recorded the transfers as sales and have continuing involvement with the transferred assets. In connection with these transfers, we recorded servicing assets, securities, and a liability for repurchase losses which reflects management’s estimate of probable losses related to various representations and warranties for the loans transferred. Each of these interests are initially measured at fair value. Servicing rights are classified as Level 3 measurements, and securities are initially predominantly classified as Level 2. Sales with continuing involvement include securitizations of conforming residential mortgages that are sold to the GSEs or GNMA. Substantially all transfers to these entities resulted in no gain or loss because the loans were already measured at fair value on a recurring basis. Table 10.3: Transfers With Continuing Involvement Year ended December 31, 2019 2018 2017 (in millions) Residential mortgages Commercial mortgages Residential mortgages Commercial mortgages Residential mortgages Commercial mortgages Net gains (losses) on sale $ 89 330 (10 ) 280 342 359 Asset balances sold 170,384 18,191 177,805 17,882 213,562 16,696 Servicing rights recognized 1,896 161 1,903 158 2,122 166 Securities recognized 2,747 51 5,030 81 1,414 65 Liability for repurchase losses recognized 18 — 17 — 24 — |
Residential Mortgage Servicing Rights | Table 10.4 presents the key weighted-average assumptions we used to measure residential MSRs at the date of securitization. Table 10.4: Residential Mortgage Servicing Rights Residential mortgage servicing rights Year ended December 31, 2019 2018 2017 Prepayment speed (1) 12.8 % 10.6 11.5 Discount rate 7.5 7.4 7.0 Cost to service ($ per loan) (2) $ 101 128 132 (1) The prepayment speed assumption for residential MSRs 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 due to changes in model assumptions and the mix of modified government-guaranteed loans sold to GNMA. |
Cash Inflows (Outflows) From Sales and Securitization Activity | Table 10.5 presents the proceeds related to transfers accounted for as sales in which we have continuing involvement with the transferred financial assets as well as current period cash flows from continuing involvement with previous transfers accounted for as sales. Cash flows from other interests held predominantly include principal and interest payments received on retained bonds and excess cash flows received on interest-only strips. Repurchases of assets represents cash paid to repurchase loans from investors under representation and warranty obligations or in connection with the exercise of cleanup calls on securitizations. Loss reimbursements is cash paid to reimburse investors for losses on individual loans that are already liquidated. Government insured loans are delinquent loans that we service and have exercised our option to purchase out of GNMA pools. These loans are insured by the FHA or guaranteed by the VA. Table 10.5: Cash Inflows (Outflows) From Sales and Securitization Activity Mortgage loans Year ended December 31, (in millions) 2019 2018 2017 Proceeds from securitizations and whole loan sales $ 186,615 193,721 228,282 Fees from servicing rights retained 3,149 3,337 3,352 Cash flows from other interests held 468 698 2,218 Repurchases of assets/loss reimbursements: Non-agency securitizations and whole loan transactions (4,441 ) (3 ) (12 ) Government insured loans (6,168 ) (7,775 ) (8,600 ) Agency securitizations (95 ) (96 ) (92 ) Servicing advances, net of recoveries (1) 187 154 269 (1) Cash flows from servicing advances includes principal and interest payments to investors required by servicing agreements. |
Retained Interests from Unconsolidated VIEs | Table 10.6 provides key economic assumptions and the sensitivity of the current fair value of residential MSRs, and other interests held related to unconsolidated VIEs, to immediate adverse changes in those assumptions. Amounts for residential MSRs include purchased servicing rights as well as servicing rights resulting from the transfer of loans. See Note 19 (Fair Values of Assets and Liabilities) for additional information on key economic assumptions for residential MSRs. “Other interests held” were obtained when we securitized residential and commercial mortgage loans. Residential mortgage-backed securities retained in securitizations issued through GSEs or GNMA are excluded from the table because these securities have a remote risk of credit loss due to the GSE or government guarantee. These securities also have economic characteristics similar to GSE or GNMA 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 10.6: Retained Interests from Unconsolidated VIEs Other interests held Residential mortgage servicing rights Interest-only strips Commercial ($ in millions, except cost to service amounts) Subordinated bonds Senior bonds Fair value of interests held at December 31, 2019 $ 11,517 2 909 352 Expected weighted-average life (in years) 5.3 3.1 7.3 5.5 Key economic assumptions: Prepayment speed assumption 11.9 % 19.5 Decrease in fair value from: 10% adverse change $ 537 — 25% adverse change 1,261 — Discount rate assumption 7.2 % 12.8 4.0 2.9 Decrease in fair value from: 100 basis point increase $ 464 — 53 16 200 basis point increase 889 — 103 32 Cost to service assumption ($ per loan) 102 Decrease in fair value from: 10% adverse change 253 25% adverse change 632 Credit loss assumption 3.1 % — Decrease in fair value from: 10% higher losses $ 1 — 25% higher losses 4 — Fair value of interests held at December 31, 2018 $ 14,649 16 668 309 Expected weighted-average life (in years) 6.5 3.6 7.0 5.7 Key economic assumptions: Prepayment speed assumption 9.9 % 17.7 Decrease in fair value from: 10% adverse change $ 530 1 25% adverse change 1,301 1 Discount rate assumption 8.1 % 14.5 4.3 3.7 Decrease in fair value from: 100 basis point increase $ 615 — 37 14 200 basis point increase 1,176 1 72 28 Cost to service assumption ($ per loan) 106 Decrease in fair value from: 10% adverse change 316 25% adverse change 787 Credit loss assumption 5.1 % — Decrease in fair value from: 10% higher losses $ 2 — 25% higher losses 5 — |
Off-Balance Sheet Loans Sold or Securitized | Table 10.7 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 10.7: Off-Balance Sheet Loans Sold or Securitized Net charge-offs (3) Total loans Delinquent loans and foreclosed assets (1) Year ended December 31, December 31, December 31, (in millions) 2019 2018 2019 2018 2019 2018 Commercial: Real estate mortgage $ 112,507 105,173 776 1,008 179 739 Total commercial 112,507 105,173 776 1,008 179 739 Consumer: Real estate 1-4 family first mortgage 1,008,446 1,097,128 6,664 8,947 229 466 Real estate 1-4 family junior lien mortgage 13 — 2 — — — Total consumer 1,008,459 1,097,128 6,666 8,947 229 466 Total off-balance sheet sold or securitized loans (2) $ 1,120,966 1,202,301 7,442 9,955 408 1,205 (1) Includes $492 million and $675 million of commercial foreclosed assets and $356 million and $582 million of consumer foreclosed assets at December 31, 2019 and 2018 , respectively. (2) At December 31, 2019 and 2018 , the table includes total loans of $1.0 trillion and $1.1 trillion , delinquent loans of $5.2 billion and $6.4 billion , and foreclosed assets of $251 million and $442 million , respectively, for FNMA, FHLMC and GNMA. (3) 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 10.8 presents a summary of financial assets and liabilities for asset transfers accounted for as secured borrowings and involvements with consolidated VIEs. Carrying values of “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 10.8: Transactions with Consolidated VIEs and Secured Borrowings Carrying value (in millions) Total VIE assets Assets Liabilities Noncontrolling interests Net assets December 31, 2019 Secured borrowings: Residential mortgage securitizations $ 81 80 (79 ) — 1 Total secured borrowings 81 80 (79 ) — 1 Consolidated VIEs: Commercial and industrial loans and leases 8,054 8,042 (529 ) (16 ) 7,497 Nonconforming residential mortgage loan securitizations 935 809 (290 ) — 519 Commercial real estate loans 4,836 4,836 — — 4,836 Municipal tender option bond securitizations 401 402 (401 ) — 1 Other 279 279 (6 ) (27 ) 246 Total consolidated VIEs 14,505 14,368 (1,226 ) (43 ) 13,099 Total secured borrowings and consolidated VIEs $ 14,586 14,448 (1,305 ) (43 ) 13,100 December 31, 2018 Secured borrowings: Residential mortgage securitizations $ 95 94 (93 ) — 1 Total secured borrowings 95 94 (93 ) — 1 Consolidated VIEs: Commercial and industrial loans and leases 8,215 8,204 (477 ) (14 ) 7,713 Nonconforming residential mortgage loan securitizations 1,947 1,732 (521 ) — 1,211 Commercial real estate loans 3,957 3,957 — — 3,957 Municipal tender option bond securitizations (1) 627 523 (501 ) — 22 Other 169 169 (9 ) (20 ) 140 Total consolidated VIEs 14,915 14,585 (1,508 ) (34 ) 13,043 Total secured borrowings and consolidated VIEs $ 15,010 14,679 (1,601 ) (34 ) 13,044 (1) Municipal tender option bond securitizations were reported as secured borrowings at December 31, 2018. These structures were reported as consolidated VIEs at December 31, 2019 to conform with our presentation of other transactions where we transfer assets to a consolidated VIE and use secured borrowing accounting. |
Mortgage Banking Activities (Ta
Mortgage Banking Activities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Mortgage Banking Activities [Abstract] | |
Analysis of Changes in Fair Value MSRs | Table 11.1 presents the changes in MSRs measured using the fair value method. Table 11.1: Analysis of Changes in Fair Value MSRs Year ended December 31, (in millions) 2019 2018 2017 Fair value, beginning of year $ 14,649 13,625 12,959 Purchases — — 541 Servicing from securitizations or asset transfers (1) 1,933 2,010 2,263 Sales and other (2) (286 ) (71 ) (23 ) Net additions 1,647 1,939 2,781 Changes in fair value: Due to changes in valuation model inputs or assumptions: Mortgage interest rates (3) (2,406 ) 1,337 (103 ) Servicing and foreclosure costs (4) 48 818 96 Discount rates (5) 145 (830 ) 13 Prepayment estimates and other (6) (356 ) (365 ) (132 ) Net changes in valuation model inputs or assumptions (2,569 ) 960 (126 ) Changes due to collection/realization of expected cash flows over time (7) (2,210 ) (1,875 ) (1,989 ) Total changes in fair value (4,779 ) (915 ) (2,115 ) Fair value, end of year $ 11,517 14,649 13,625 (1) Includes impacts associated with exercising cleanup calls on securitizations as well as our right to repurchase delinquent loans from Government National Mortgage Association (GNMA) loan securitization pools. Total reported MSRs may increase upon repurchase due to servicing liabilities associated with these delinquent GNMA loans. (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 or portfolios with servicing liabilities. (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) Reflects discount rate assumption change, excluding portion attributable to changes in mortgage interest rates. (6) 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. (7) Represents the reduction in the MSR fair value for the cash flows expected to be collected during the period, net of income accreted due to the passage of time |
Analysis of Changes in Amortized MSRs | Table 11.2 presents the changes in amortized MSRs. Table 11.2: Analysis of Changes in Amortized MSRs Year ended December 31, (in millions) 2019 2018 2017 Balance, beginning of year $ 1,443 1,424 1,406 Purchases 100 127 115 Servicing from securitizations or asset transfers 161 158 166 Amortization (274 ) (266 ) (263 ) Balance, end of year (1) $ 1,430 1,443 1,424 Fair value of amortized MSRs: Beginning of year $ 2,288 2,025 1,956 End of year 1,872 2,288 2,025 (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 11.3 at unpaid principal balance for loans serviced and subserviced for others and at book value for owned loans serviced. Table 11.3: Managed Servicing Portfolio (in billions) Dec 31, 2019 Dec 31, 2018 Residential mortgage servicing: Serviced for others $ 1,063 1,164 Owned loans serviced (1) 343 334 Subserviced for others 2 4 Total residential servicing 1,408 1,502 Commercial mortgage servicing: Serviced for others 566 543 Owned loans serviced 124 121 Subserviced for others 9 9 Total commercial servicing 699 673 Total managed servicing portfolio $ 2,107 2,175 Total serviced for others $ 1,629 1,707 Ratio of MSRs to related loans serviced for others 0.79 % 0.94 (1) Excludes loans serviced by third parties . |
Mortgage Banking Noninterest Income | Table 11.4 presents the components of mortgage banking noninterest income. Table 11.4: Mortgage Banking Noninterest Income Year ended December 31, (in millions) 2019 2018 2017 Servicing income, net: Servicing fees: Contractually specified servicing fees $ 3,388 3,613 3,603 Late charges 129 162 172 Ancillary fees 143 182 199 Unreimbursed direct servicing costs (1) (403 ) (331 ) (582 ) Net servicing fees 3,257 3,626 3,392 Changes in fair value of MSRs carried at fair value: Due to changes in valuation model inputs or assumptions (2) (A) (2,569 ) 960 (126 ) Changes due to collection/realization of expected cash flows over time (3) (2,210 ) (1,875 ) (1,989 ) Total changes in fair value of MSRs carried at fair value (4,779 ) (915 ) (2,115 ) Amortization (274 ) (266 ) (263 ) Net derivative gains (losses) from economic hedges (4) (B) 2,318 (1,072 ) 413 Total servicing income, net 522 1,373 1,427 Net gains on mortgage loan origination/sales activities (5) 2,193 1,644 2,923 Total mortgage banking noninterest income $ 2,715 3,017 4,350 Market-related valuation changes to MSRs, net of hedge results (2)(4) (A)+(B) $ (251 ) (112 ) 287 (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 11.1 in this Note for more detail. (3) Represents the reduction in the MSR fair value for the cash flows expected to be collected during the period, net of income accreted due to the passage of time. (4) Represents results from economic hedges used to hedge the risk of changes in fair value of MSRs. See Note 18 (Derivatives) for additional discussion and detail. (5) Includes net gains (losses) of $(141) million , $857 million and $35 million at December 31, 2019 , 2018 and 2017 , respectively, related to derivatives used as economic hedges of mortgage loans held for sale and derivative loan commitments. |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | Table 12.1 presents the gross carrying value of intangible assets and accumulated amortization. Table 12.1: Intangible Assets December 31, 2019 December 31, 2018 (in millions) Gross carrying value Accumulated amortization Net carrying value Gross carrying value Accumulated amortization Net carrying value Amortized intangible assets (1): MSRs (2) $ 4,422 (2,992 ) 1,430 4,161 (2,718 ) 1,443 Core deposit intangibles — — — 12,834 (12,834 ) — Customer relationship and other intangibles 947 (524 ) 423 3,994 (3,449 ) 545 Total amortized intangible assets $ 5,369 (3,516 ) 1,853 20,989 (19,001 ) 1,988 Unamortized intangible assets: MSRs (carried at fair value) (2) $ 11,517 14,649 Goodwill 26,390 26,418 Trademark 14 14 (1) Balances are excluded commencing in the period following full amortization. (2) See Note 11 (Mortgage Banking Activities) for additional information on MSRs. |
Amortization Expense for Intangible Assets | Table 12.2 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 December 31, 2019 . Future amortization expense may vary from these projections. Table 12.2: Amortization Expense for Intangible Assets (in millions) Amortized MSRs Customer relationship and other intangibles Total Year ended December 31, 2019 (actual) $ 274 114 388 Estimate for year ended December 31, 2020 $ 263 95 358 2021 227 81 308 2022 203 68 271 2023 176 59 235 2024 152 48 200 |
Goodwill | Table 12.3 shows the allocation of goodwill to our reportable operating segments. Table 12.3: Goodwill (in millions) Community Banking Wholesale Banking Wealth and Investment Management Consolidated Company December 31, 2017 (1) $ 16,849 8,455 1,283 26,587 Reduction in goodwill related to divested businesses and foreign currency translation (164 ) (5 ) — (169 ) December 31, 2018 (1) $ 16,685 8,450 1,283 26,418 Reduction in goodwill related to divested businesses and foreign currency translation — (21 ) (7 ) (28 ) December 31, 2019 (1) $ 16,685 8,429 1,276 26,390 (1) At December 31, 2017, other assets included Goodwill classified as held-for-sale of $13 million related to the sales agreement for Wells Fargo Shareowner Services, which closed in February 2018. At December 31, 2019 , and December 31, 2018 , there was no Goodwill classified as held-for-sale in other assets. |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Deposits [Abstract] | |
Time Certificates of Deposits and Other Time Deposits | Table 13.1 presents a summary of the time certificates of deposit (CDs) and other time deposits issued by domestic and non-U.S. offices. Table 13.1: Time Certificates of Deposits and Other Time Deposits December 31, (in billions) 2019 2018 Total domestic and Non-U.S. $ 118.8 130.6 Domestic: $100,000 or more 43.7 42.5 $250,000 or more 34.6 37.1 Non-U.S. $100,000 or more 4.0 4.6 $250,000 or more 4.0 4.6 |
Contractual Maturities of CDs and Other Time Deposits | The contractual maturities of these deposits are presented in Table 13.2 . Table 13.2: Contractual Maturities of CDs and Other Time Deposits (in millions) December 31, 2019 2020 $ 88,259 2021 15,429 2022 6,055 2023 4,130 2024 1,906 Thereafter 3,070 Total $ 118,849 |
Contractual Maturities of Domestic Time Deposits | The contractual maturities of the domestic time deposits with a denomination of $100,000 or more are presented in Table 13.3 . Table 13.3: Contractual Maturities of Domestic Time Deposits (in millions) December 31, 2019 Three months or less $ 18,759 After three months through six months 10,583 After six months through twelve months 11,766 After twelve months 2,624 Total $ 43,732 |
Short-term Borrowings (Tables)
Short-term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Short-term Debt [Abstract] | |
Short-Term Borrowings | Table 14.1 shows selected information for short-term borrowings, which generally mature in less than 30 days . We pledge certain financial instruments that we own to collateralize repurchase agreements and other securities financings. For additional information, see the “Pledged Assets” section of Note 16 (Guarantees, Pledged Assets and Collateral, and Other Commitments). Table 14.1: Short-Term Borrowings 2019 2018 2017 (in millions) Amount Rate Amount Rate Amount Rate As of December 31, Federal funds purchased and securities sold under agreements to repurchase $ 92,403 1.54 % $ 92,430 2.65 % $ 88,684 1.30 % Commercial paper — — — — — — Other short-term borrowings 12,109 0.60 13,357 1.63 14,572 0.72 Total $ 104,512 1.43 $ 105,787 2.52 $ 103,256 1.22 Year ended December 31, Average daily balance Federal funds purchased and securities sold under agreements to repurchase $ 102,888 2.11 $ 90,348 1.78 $ 82,507 0.90 Commercial paper — — — — 16 0.95 Other short-term borrowings 12,449 1.20 13,919 0.79 16,399 0.13 Total $ 115,337 2.01 $ 104,267 1.65 $ 98,922 0.77 Maximum month-end balance Federal funds purchased and securities sold under agreements to repurchase (1) $ 111,726 N/A $ 93,918 N/A $ 91,604 N/A Commercial paper (2) — N/A — N/A 78 N/A Other short-term borrowings (3) 14,129 N/A 16,924 N/A 19,439 N/A N/A- Not applicable (1) Highest month-end balance in each of the last three years was October 2019 , November 2018 and November 2017 . (2) There were no month-end balances in 2019 and 2018; highest month-end balance in 2017 was January . (3) Highest month-end balance in each of the last three years was February 2019 , January 2018 and February 2017 . |
Long-term Debt (Tables)
Long-term Debt (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Long-term Debt, Current and Noncurrent [Abstract] | |
Long-Term Debt | Table 15.1 presents a summary of our long-term debt carrying values, reflecting unamortized debt discounts and premiums, and purchase accounting adjustments, where applicable. The interest rates displayed represent the range of contractual rates in effect at December 31, 2019 . These interest rates do not include the effects of any associated derivatives designated in a hedge accounting relationship. Table 15.1: Long-Term Debt December 31, 2019 2018 (in millions) Maturity date(s) Stated interest rate(s) Wells Fargo & Company (Parent only) Senior Fixed-rate notes (1) 2020-2047 0.38 - 6.75% $ 86,618 77,742 Floating-rate notes 2020-2048 0.02-3.24% 16,800 19,553 FixFloat notes 2025-2030 2.41-3.58% 12,030 2,901 Structured notes (2) 8,390 7,984 Total senior debt - Parent 123,838 108,180 Subordinated Fixed-rate notes (3) 2023-2046 3.45-7.57% 27,195 25,428 Total subordinated debt - Parent 27,195 25,428 Junior subordinated Fixed-rate notes - trust securities 2029-2036 5.95-7.95% 1,428 1,308 Floating-rate notes 2027 2.50-3.00% 318 308 Total junior subordinated debt - Parent (4) 1,746 1,616 Total long-term debt - Parent (3) 152,779 135,224 Wells Fargo Bank, N.A., and other bank entities (Bank) Senior Fixed-rate notes 2020-2023 2.40-3.63% 9,364 14,222 Floating-rate notes 2020-2053 1.64-2.55% 10,617 6,617 FixFloat notes 2021-2022 2.08-3.33% 5,097 1,998 Fixed-rate advances - Federal Home Loan Bank (FHLB) 2020-2031 3.83-7.50% 41 51 Floating-rate advances - FHLB 2020-2022 1.83-2.31% 32,950 53,825 Structured notes (2) 1,914 1,646 Finance leases 2020-2029 1.69-17.78% 32 36 Total senior debt - Bank 60,015 78,395 Subordinated Fixed-rate notes 2023-2038 5.25-7.74% 5,374 5,199 Total subordinated debt - Bank 5,374 5,199 Junior subordinated Floating-rate notes 2027 2.48-2.65% 363 352 Total junior subordinated debt - Bank (4) 363 352 Long-term debt issued by VIE - Fixed rate 2037 6.00% 17 160 Long-term debt issued by VIE - Floating rate 2020-2038 2.38-4.62% 570 656 Mortgage notes and other debt (5) 2020-2057 9.20% 6,185 6,637 Total long-term debt - Bank 72,524 91,399 (continued on following page) (continued from previous page) December 31, 2019 2018 (in millions) Maturity date(s) Stated interest rate(s) Other consolidated subsidiaries Senior Fixed-rate notes 2021-2023 3.04-3.46% 1,352 2,383 Structured notes (2) 1,503 6 Finance leases 2020 3.71 % 1 — Total senior debt - Other consolidated subsidiaries 2,856 2,389 Mortgage notes and other 2026 3.27% 32 32 Total long-term debt - Other consolidated subsidiaries 2,888 2,421 Total long-term debt $ 228,191 229,044 (1) Includes $66 million of outstanding zero coupon callable notes at December 31, 2019 . (2) Included in the table are certain structured notes that have coupon or repayment terms linked to the performance of debt or equity securities, an embedded equity, commodity, or currency index, or basket of indices accounted for separately from the note as a free-standing derivative, and the maturity may be accelerated based on the value of a referenced index or security. For information on embedded derivatives, see the “Derivatives Not Designated as Hedging Instruments” section in Note 18 (Derivatives). In addition, a major portion consists of zero coupon callable notes where interest is paid as part of the final redemption amount. (3) Includes fixed-rate subordinated notes issued by the Parent at a discount of $128 million and $131 million in 2019 and 2018 , respectively, and debt issuance costs of $2 million in both 2019 and 2018, to effect a modification of Wells Fargo Bank, N.A., notes. These subordinated notes are carried at their par amount on the balance sheet of the Parent presented in Note 28 (Parent-Only Financial Statements). In addition, Parent long-term debt presented in Note 28 also includes affiliate related issuance costs of $281 million and $278 million in 2019 and 2018, respectively. (4) Represents junior subordinated debentures held by unconsolidated wholly-owned trusts formed for the sole purpose of issuing trust preferred securities. See Note 10 (Securitizations and Variable Interest Entities) for additional information. (5) Largely relates to unfunded commitments for LIHTC investments. For additional information, see Note 8 (Equity Securities). |
Maturity of Long-Term Debt | The aggregate carrying value of long-term debt that matures (based on contractual payment dates) as of December 31, 2019 , in each of the following five years and thereafter is presented in Table 15.2 . Table 15.2: Maturity of Long-Term Debt December 31, 2019 (in millions) 2020 2021 2022 2023 2024 Thereafter Total Wells Fargo & Company (Parent Only) Senior notes $ 13,429 18,163 18,091 11,104 9,387 53,664 123,838 Subordinated notes — — — 3,653 737 22,805 27,195 Junior subordinated notes — — — — — 1,746 1,746 Total long-term debt - Parent 13,429 18,163 18,091 14,757 10,124 78,215 152,779 Wells Fargo Bank, N.A., and other bank entities (Bank) Senior notes 23,415 27,865 5,585 2,884 6 260 60,015 Subordinated notes — — — 1,071 — 4,303 5,374 Junior subordinated notes — — — — — 363 363 Securitizations and other bank debt 2,658 1,138 633 224 157 1,962 6,772 Total long-term debt - Bank 26,073 29,003 6,218 4,179 163 6,888 72,524 Other consolidated subsidiaries Senior notes 144 1,761 93 435 118 305 2,856 Securitizations and other bank debt — — — — — 32 32 Total long-term debt - Other consolidated subsidiaries 144 1,761 93 435 118 337 2,888 Total long-term debt $ 39,646 48,927 24,402 19,371 10,405 85,440 228,191 |
Guarantees, Pledged Assets an_2
Guarantees, Pledged Assets and Collateral, and Other Commitments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Guarantees [Abstract] | |
Guarantees - Carrying Value and Maximum Exposure to Loss | Table 16.1 shows carrying value, maximum exposure to loss on our guarantees and the related non-investment grade amounts. Table 16.1: 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 December 31, 2019 Standby letters of credit $ 36 11,569 4,460 2,812 467 19,308 7,104 Direct pay letters of credit — 1,861 3,815 824 105 6,605 1,184 Written options (1) (345 ) 17,088 10,869 2,341 273 30,571 18,113 Loans and MLHFS sold with recourse (2) 52 114 576 1,356 10,050 12,096 9,835 Exchange and clearing house guarantees — — — — 4,817 4,817 — Other guarantees and indemnifications (3) 1 785 1 3 809 1,598 698 Total guarantees $ (256 ) 31,417 19,721 7,336 16,521 74,995 36,934 December 31, 2018 Standby letters of credit (4) $ 40 10,947 4,649 2,872 461 18,929 7,017 Direct pay letters of credit (4) — 3,689 3,248 526 36 7,499 1,010 Written options (1) (185 ) 17,243 10,502 3,066 400 31,211 21,732 Loans and MLHFS sold with recourse (2) 54 104 653 1,207 10,163 12,127 9,079 Exchange and clearing house guarantees (4) — — — — 2,922 2,922 — Other guarantees and indemnifications (3), (4) 1 889 1 3 1,081 1,974 753 Total guarantees $ (90 ) 32,872 19,053 7,674 15,063 74,662 39,591 (1) Written options, which are in the form of derivatives, are also included in the derivative disclosures in Note 18 (Derivatives). Carrying value net asset position is a result of certain deferred premium option trades. (2) Represent recourse provided, predominantly to the GSEs, on loans sold under various programs and arrangements. (3) Includes indemnifications provided to certain third-party clearing agents. Outstanding customer obligations under these arrangements were $80 million and $70 million with related collateral of $696 million and $974 million at December 31, 2019 and 2018 , respectively. (4) Prior period amounts have been revised to conform with the current period presentation. |
Pledged Assets | Table 16.2 provides the carrying amount of on-balance sheet pledged assets and the fair value of off-balance sheet pledged assets. TRADING RELATED ACTIVITY Our trading businesses may pledge debt and equity securities in connection with securities sold under agreements to repurchase (repurchase agreements) and securities lending arrangements. Substantially all of the trading activity pledged collateral is eligible to be repledged or sold by the secured party. The collateral that we pledge related to our trading activities may include our own collateral as well as collateral that we have received from third parties and have the right to repledge. NON-TRADING RELATED ACTIVITY As part of our liquidity management strategy, we may pledge loans, debt securities, and other assets to secure trust and public deposits, borrowings and letters of credit from the Federal Home Loan Bank (FHLB) and FRB and for other purposes as required or permitted by law or insurance statutory requirements. Substantially all of the non-trading activity pledged collateral is not eligible to be repledged or sold by the secured party. Table 16.2 excludes: • Pledged assets of consolidated VIEs of $14.4 billion and $14.6 billion at December 31, 2019 and 2018 , respectively, which can only be used to settle the liabilities of those entities; • Assets pledged in transactions with VIEs accounted for as secured borrowings of $80 million and $94 million at December 31, 2019 and 2018 , respectively; and • Pledged loans recorded on our balance sheet of $568 million and $1.2 billion at December 31, 2019 and 2018 , respectively, representing certain delinquent loans that are eligible for repurchase from GNMA loan securitizations. See Note 10 (Securitizations and Variable Interest Entities) for additional information on consolidated VIE assets and secured borrowings. Table 16.2: Pledged Assets Dec 31, Dec 31, (in millions) 2019 2018 Related to trading activities: Debt securities $ 106,105 96,616 Equity securities 6,204 9,695 Total pledged assets related to trading activities (1) 112,309 106,311 Related to non-trading activities: Debt securities and other 65,047 62,438 Mortgage loans held for sale (2) 2,266 7,439 Loans (2) 406,106 446,455 Total pledged assets related to non-trading activities 473,419 516,332 Total pledged assets $ 585,728 622,643 (1) Includes securities collateral received from third parties that we have repledged of $60.1 billion and $60.8 billion as of December 31, 2019 and 2018, respectively. (2) Prior period amounts have been revised to conform with the current period presentation. |
Offsetting - Securities Financing Activities | Table 16.3 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 16.3 , we also have balance sheet netting related to derivatives that is disclosed in Note 18 (Derivatives). Table 16.3: Offsetting – Securities Financing Activities Dec 31, Dec 31, (in millions) 2019 2018 Assets: Resale and securities borrowing agreements Gross amounts recognized $ 140,773 112,662 Gross amounts offset in consolidated balance sheet (1) (19,180 ) (15,258 ) Net amounts in consolidated balance sheet (2) 121,593 97,404 Collateral not recognized in consolidated balance sheet (3) (120,786 ) (96,734 ) Net amount (4) $ 807 670 Liabilities: Repurchase and securities lending agreements Gross amounts recognized (5) $ 111,038 106,248 Gross amounts offset in consolidated balance sheet (1) (19,180 ) (15,258 ) Net amounts in consolidated balance sheet (6) 91,858 90,990 Collateral pledged but not netted in consolidated balance sheet (7) (91,709 ) (90,798 ) Net amount (8) $ 149 192 (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) Includes $102.1 billion and $80.1 billion , respectively, classified on our consolidated balance sheet in federal funds sold and securities purchased under resale agreements at December 31, 2019 and 2018 . Also includes securities purchased under long-term resale agreements (generally one year or more) classified in loans, which totaled $19.5 billion and $17.3 billion , at December 31, 2019 and 2018 , respectively. (3) Represents the fair value of collateral we have received under enforceable MRAs or MSLAs, limited in the table above to the amount of the recognized asset due from each counterparty. At December 31, 2019 and 2018 , we have received total collateral with a fair value of $150.9 billion and $123.1 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 $59.1 billion at December 31, 2019 , and $60.8 billion at December 31, 2018 . (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 in the table above to the amount of the recognized liability owed to each counterparty. At December 31, 2019 and 2018 , we have pledged total collateral with a fair value of $113.3 billion and $108.8 billion , respectively, substantially all of which may be sold or repledged by the counterparty. (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. |
Gross Obligations by Underlying Collateral Type and Contractual Maturities of Gross Obligations | Table 16.4 provides the gross amounts recognized on the balance sheet (before the effects of offsetting) of our liabilities for repurchase and securities lending agreements disaggregated by underlying collateral type. Table 16.4: Gross Obligations by Underlying Collateral Type Dec 31, Dec 31, (in millions) 2019 2018 Repurchase agreements: Securities of U.S. Treasury and federal agencies $ 48,161 38,408 Securities of U.S. States and political subdivisions 104 159 Federal agency mortgage-backed securities 44,737 47,241 Non-agency mortgage-backed securities 1,818 1,875 Corporate debt securities 7,126 6,191 Asset-backed securities 1,844 2,074 Equity securities 1,674 992 Other 705 340 Total repurchases 106,169 97,280 Securities lending arrangements: Securities of U.S. Treasury and federal agencies 163 222 Federal agency mortgage-backed securities — 2 Corporate debt securities 223 389 Equity securities (1) 4,481 8,349 Other 2 6 Total securities lending 4,869 8,968 Total repurchases and securities lending $ 111,038 106,248 (1) Equity securities are generally exchange traded and represent collateral received from third parties that has been repledged. We received the collateral through either margin lending agreements or contemporaneous securities borrowing transactions with other counterparties. Table 16.5 provides the contractual maturities of our gross obligations under repurchase and securities lending agreements. Table 16.5: Contractual Maturities of Gross Obligations (in millions) Overnight/continuous Up to 30 days 30-90 days >90 days Total gross obligation December 31, 2019 Repurchase agreements $ 79,793 17,681 4,825 3,870 106,169 Securities lending arrangements 4,724 — 145 — 4,869 Total repurchases and securities lending (1) $ 84,517 17,681 4,970 3,870 111,038 December 31, 2018 Repurchase agreements $ 86,574 3,244 2,153 5,309 97,280 Securities lending arrangements 8,669 — 299 — 8,968 Total repurchases and securities lending (1) $ 95,243 3,244 2,452 5,309 106,248 (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) | 12 Months Ended |
Dec. 31, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Notional or Contractual Amounts and Fair Values of Derivatives | Table 18.1 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 18.1: Notional or Contractual Amounts and Fair Values of Derivatives December 31, 2019 December 31, 2018 Notional or Fair value Notional or Fair value contractual Derivative Derivative contractual Derivative Derivative (in millions) amount assets liabilities amount assets liabilities Derivatives designated as hedging instruments Interest rate contracts $ 182,789 2,595 1,237 177,511 2,237 636 Foreign exchange contracts 32,386 341 1,170 34,176 573 1,376 Total derivatives designated as qualifying hedging instruments 2,936 2,407 2,810 2,012 Derivatives not designated as hedging instruments Economic hedges: Interest rate contracts 235,810 207 160 173,215 849 369 Equity contracts 19,263 1,126 224 13,920 1,362 79 Foreign exchange contracts 26,595 118 286 19,521 225 80 Credit contracts - protection purchased 1,400 27 — 100 27 — Subtotal 1,478 670 2,463 528 Customer accommodation trading and other derivatives: Interest rate contracts 11,117,542 21,245 17,969 9,162,821 15,349 15,303 Commodity contracts 79,737 1,421 1,770 66,173 1,588 2,336 Equity contracts 272,145 7,410 10,240 217,890 6,183 5,931 Foreign exchange contracts 364,469 4,755 4,791 364,982 5,916 5,657 Credit contracts - protection sold 12,215 12 65 11,741 76 182 Credit contracts - protection purchased 24,030 69 18 20,880 175 98 Subtotal 34,912 34,853 29,287 29,507 Total derivatives not designated as hedging instruments 36,390 35,523 31,750 30,035 Total derivatives before netting 39,326 37,930 34,560 32,047 Netting (25,123 ) (28,851 ) (23,790 ) (23,548 ) Total $ 14,203 9,079 10,770 8,499 |
Gross Fair Values of Derivative Assets and Liabilities | Table 18.2 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 $33.7 billion and $33.5 billion of gross derivative assets and liabilities, respectively, at December 31, 2019 , and $30.9 billion and $28.4 billion , respectively, at December 31, 2018 , with counterparties subject to enforceable master netting arrangements that are eligible for balance sheet netting adjustments. The majority of these amounts are interest rate contracts executed in over-the-counter (OTC) markets. The remaining gross derivative assets and liabilities of $5.6 billion and $4.4 billion , respectively, at December 31, 2019 , and $3.7 billion and $3.6 billion , respectively, at December 31, 2018 , 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. Cash collateral receivables and payables that have not been offset against our derivatives were $6.3 billion and $1.4 billion , respectively, at December 31, 2019, and $4.8 billion and $1.4 billion , respectively, at December 31, 2018. 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 18.2 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 OTC markets include bilateral contractual arrangements that are not cleared through a central clearing organization but are typically subject to enforceable master netting arrangements. Other derivative contracts that are settled through a central clearing organization whether OTC or exchange-traded, are excluded from that 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 16 (Guarantees, Pledged Assets and Collateral, and Other Commitments). Table 18.2: 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) Net amounts Percent exchanged in over-the-counter market December 31, 2019 Derivative assets Interest rate contracts $ 24,047 (14,878 ) 9,169 (445 ) 8,724 95 % Commodity contracts 1,421 (888 ) 533 (2 ) 531 80 Equity contracts 8,536 (5,570 ) 2,966 (69 ) 2,897 65 Foreign exchange contracts 5,214 (3,722 ) 1,492 (22 ) 1,470 100 Credit contracts-protection sold 12 (9 ) 3 — 3 84 Credit contracts-protection purchased 96 (56 ) 40 (1 ) 39 97 Total derivative assets $ 39,326 (25,123 ) 14,203 (539 ) 13,664 Derivative liabilities Interest rate contracts $ 19,366 (16,595 ) 2,771 (545 ) 2,226 94 % Commodity contracts 1,770 (677 ) 1,093 (2 ) 1,091 82 Equity contracts 10,464 (6,647 ) 3,817 (319 ) 3,498 81 Foreign exchange contracts 6,247 (4,866 ) 1,381 (169 ) 1,212 100 Credit contracts-protection sold 65 (60 ) 5 (3 ) 2 98 Credit contracts-protection purchased 18 (6 ) 12 — 12 93 Total derivative liabilities $ 37,930 (28,851 ) 9,079 (1,038 ) 8,041 December 31, 2018 Derivative assets Interest rate contracts $ 18,435 (12,029 ) 6,406 (80 ) 6,326 90 % Commodity contracts 1,588 (849 ) 739 (4 ) 735 57 Equity contracts 7,545 (5,318 ) 2,227 (755 ) 1,472 78 Foreign exchange contracts 6,714 (5,355 ) 1,359 (35 ) 1,324 100 Credit contracts-protection sold 76 (73 ) 3 — 3 12 Credit contracts-protection purchased 202 (166 ) 36 (1 ) 35 78 Total derivative assets $ 34,560 (23,790 ) 10,770 (875 ) 9,895 Derivative liabilities Interest rate contracts $ 16,308 (13,152 ) 3,156 (567 ) 2,589 92 % Commodity contracts 2,336 (727 ) 1,609 (8 ) 1,601 85 Equity contracts 6,010 (3,877 ) 2,133 (110 ) 2,023 75 Foreign exchange contracts 7,113 (5,522 ) 1,591 (188 ) 1,403 100 Credit contracts-protection sold 182 (180 ) 2 (2 ) — 67 Credit contracts-protection purchased 98 (90 ) 8 — 8 11 Total derivative liabilities $ 32,047 (23,548 ) 8,499 (875 ) 7,624 (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 related to derivative assets were $231 million and $353 million and debit valuation adjustments related to derivative liabilities were $100 million and $152 million as of December 31, 2019 and 2018 , respectively. Cash collateral totaled $2.9 billion and $6.8 billion , netted against derivative assets and liabilities, respectively, at December 31, 2019 , and $3.7 billion and $3.6 billion , respectively, at December 31, 2018 . |
Gains (Losses) Recognized on Fair Value Hedging Relationships | Table 18.3 and Table 18.4 show the net gains (losses) related to derivatives in fair value and cash flow hedging relationships, respectively. Table 18.3: Gains (Losses) Recognized on Fair Value Hedging Relationships Net interest income Noninterest income Total recorded in net income Total recorded in OCI (in millions) Debt securities Mortgage loans held for sale Deposits Long-term debt Other Derivative gains (losses) Derivative gains (losses) Year Ended December 31, 2019 Total amounts presented in the consolidated statement of income and other comprehensive income $ 14,955 813 (8,635 ) (7,350 ) 3,181 N/A 275 Interest contracts Amounts related to interest settlements on derivatives — 2 58 169 — 229 Recognized on derivatives (2,082 ) 1 463 5,001 — 3,383 — Recognized on hedged items 2,096 (7 ) (442 ) (4,910 ) — (3,263 ) Total gains (losses) (pre-tax) on interest rate contracts 14 (4 ) 79 260 — 349 — Foreign exchange contracts Amounts related to interest settlements on derivatives 35 — — (483 ) — (448 ) Recognized on derivatives (5 ) — — 308 (358 ) (55 ) (3 ) Recognized on hedged items 6 — — (289 ) 350 67 Total gains (losses) (pre-tax) on foreign exchange contracts 36 — — (464 ) (8 ) (436 ) (3 ) Total gains (losses) (pre-tax) recognized on fair value hedges $ 50 (4 ) 79 (204 ) (8 ) (87 ) (3 ) (continued on following page) (continued from previous page) Net interest income Noninterest income Total recorded in net income Total recorded in OCI (in millions) Debt securities Mortgage loans held for sale Deposits Long-term debt Other Derivative gains (losses) Derivative gains (losses) Year ended December 31, 2018 Total amounts presented in the consolidated statement of income and other comprehensive income $ 14,406 777 (5,622 ) (6,703 ) 2,473 N/A (238 ) Interest contracts Amounts related to interest settlements on derivatives (187 ) (3 ) (41 ) 292 — 61 Recognized on derivatives 845 15 27 (1,923 ) — (1,035 ) — Recognized on hedged items (877 ) (22 ) (33 ) 1,843 — 910 Total gains (losses) (pre-tax) on interest rate contracts (219 ) (10 ) (47 ) 212 — (64 ) — Foreign exchange contracts Amounts related to interest settlements on derivatives 33 — — (434 ) — (401 ) Recognized on derivatives 7 — — 135 (1,204 ) (1,062 ) (254 ) Recognized on hedged items (1 ) — — (82 ) 1,114 1,031 Total gains (losses) (pre-tax) on foreign exchange contracts 39 — — (381 ) (90 ) (432 ) (254 ) Total gains (losses) (pre-tax) recognized on fair value hedges $ (180 ) (10 ) (47 ) (169 ) (90 ) (496 ) (254 ) Year ended December 31, 2017 Total amounts presented in the consolidated statement of income and other comprehensive income $ 12,946 786 (3,013 ) (5,157 ) 1,603 N/A (1,083 ) Interest contracts Amounts related to interest settlements on derivatives (469 ) (5 ) 36 1,286 — 847 Recognized on derivatives (43 ) (5 ) (20 ) (912 ) — (979 ) — Recognized on hedged items (52 ) (4 ) 36 938 — 917 Total gains (losses) (pre-tax) on interest rate contracts (564 ) (14 ) 52 1,312 — 785 — Foreign exchange contracts Amounts related to interest settlements on derivatives 14 — — (210 ) — (196 ) Recognized on derivatives 13 — — (230 ) 3,118 2,901 (253 ) Recognized on hedged items (10 ) — — 255 (2,855 ) (2,610 ) Total gains (losses) (pre-tax) on foreign exchange contracts 17 — — (185 ) 263 95 (253 ) Total gains (losses) (pre-tax) recognized on fair value hedges $ (547 ) (14 ) 52 1,127 263 880 (253 ) |
Gains (Losses) Recognized on Cash Flow Hedging Relationships | Table 18.4: Gains (Losses) Recognized on Cash Flow Hedging Relationships Net interest income Total recorded in net income Total recorded in OCI (in millions) Loans Long-term debt Derivative gains (losses) Derivative gains (losses) Year Ended December 31, 2019 Total amounts presented in the consolidated statement of income and other comprehensive income $ 44,146 (7,350 ) N/A 275 Interest rate contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income (291 ) 1 (290 ) 290 Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A — Total gains (losses) (pre-tax) on interest rate contracts (291 ) 1 (290 ) 290 Foreign exchange contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income — (9 ) (9 ) 9 Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A (21 ) Total gains (losses) (pre-tax) on foreign exchange contracts — (9 ) (9 ) (12 ) Total gains (losses) (pre-tax) recognized on cash flow hedges $ (291 ) (8 ) (299 ) 278 Year ended December 31, 2018 Total amounts presented in the consolidated statement of income and other comprehensive income $ 43,974 (6,703 ) N/A (238 ) Interest rate contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income (292 ) 1 (291 ) 291 Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A (266 ) Total gains (losses) (pre-tax) on interest rate contracts (292 ) 1 (291 ) 25 Foreign exchange contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income — (3 ) (3 ) 3 Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A (12 ) Total gains (losses) (pre-tax) on foreign exchange contracts — (3 ) (3 ) (9 ) Total gains (losses) (pre-tax) recognized on cash flow hedges $ (292 ) (2 ) (294 ) 16 Year ended December 31, 2017 Total amounts presented in the consolidated statement of income and other comprehensive income $ 41,388 (5,157 ) N/A (1,083 ) Interest rate contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income 551 (8 ) 543 (543 ) Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A (287 ) Total gains (losses) (pre-tax) on interest rate contracts 551 (8 ) 543 (830 ) Foreign exchange contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income — — — — Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A — Total gains (losses) (pre-tax) on foreign exchange contracts — — — — Total gains (losses) (pre-tax) recognized on cash flow hedges $ 551 (8 ) 543 (830 ) |
Hedged Items in Fair Value Hedging Relationships | Table 18.5 shows the carrying amount and associated cumulative basis adjustment related to the application of hedge accounting that is included in the carrying amount of hedged assets and liabilities in fair value hedging relationships. Table 18.5: Hedged Items in Fair Value Hedging Relationship Hedged Items Currently Designated Hedged Items No Longer Designated (1) (in millions) Carrying Amount of Assets/(Liabilities) (2)(4) Hedge Accounting Basis Adjustment Assets/(Liabilities) (3) Carrying Amount of Assets/(Liabilities) (4) Hedge Accounting Basis Adjustment December 31, 2019 Available-for-sale debt securities (5) $ 36,896 1,110 9,486 278 Mortgage loans held for sale 961 (12 ) — — Deposits (43,716 ) (324 ) — — Long-term debt (127,423 ) (5,827 ) (25,750 ) 173 December 31, 2018 Available-for-sale debt securities (5) $ 37,857 (157 ) 4,938 238 Mortgage loans held for sale 448 7 — — Deposits (56,535 ) 115 — — Long-term debt (104,341 ) (742 ) (25,539 ) 366 (1) Represents hedged items no longer designated in qualifying fair value hedging relationships for which an associated basis adjustment exists at the balance sheet date. (2) Does not include the carrying amount of hedged items where only foreign currency risk is the designated hedged risk. The carrying amount excluded for debt securities is $1.2 billion and for long-term debt is $(5.2) billion as of December 31, 2019 , and $1.6 billion for debt securities and $(6.3) billion for long-term debt as of December 31, 2018 . (3) The balance includes $790 million and $109 million of debt securities and long-term debt cumulative basis adjustments as of December 31, 2019 , respectively, and $1.4 billion and $66 million of debt securities and long-term debt cumulative basis adjustments as of December 31, 2018 , respectively, on terminated hedges whereby the hedged items have subsequently been re-designated into existing hedges. (4) Represents the full carrying amount of the hedged asset or liability item as of the balance sheet date, except for circumstances in which only a portion of the asset or liability was designated as the hedged item in which case only the portion designated is presented. (5) Carrying amount represents the amortized cost. |
Gains (Losses) on Derivatives Not Designated as Hedging Instruments | Table 18.6 shows the net gains (losses), recognized by income statement lines, related to derivatives not designated as hedging instruments. Table 18.6: Gains (Losses) on Derivatives Not Designated as Hedging Instruments Noninterest income (in millions) Mortgage banking Net gains (losses) from equity securities Net gains (losses) from trading activities Other Total Year ended December 31, 2019 Net gains (losses) recognized on economic hedges derivatives: Interest contracts (1) $ 2,177 — — 1 2,178 Equity contracts — (2,120 ) — (2 ) (2,122 ) Foreign exchange contracts — — — (77 ) (77 ) Credit contracts — — — (5 ) (5 ) Subtotal 2,177 (2,120 ) — (83 ) (26 ) Net gains (losses) recognized on customer accommodation trading and other derivatives: Interest contracts 418 — (95 ) — 323 Commodity contracts — — 164 — 164 Equity contracts — — (4,863 ) (484 ) (5,347 ) Foreign exchange contracts — — 47 — 47 Credit contracts — — (120 ) — (120 ) Subtotal 418 — (4,867 ) (484 ) (4,933 ) Net gains (losses) recognized related to derivatives not designated as hedging instruments $ 2,595 (2,120 ) (4,867 ) (567 ) (4,959 ) (Continued on following page) (continued from previous page) Noninterest income (in millions) Mortgage banking Net gains (losses) from equity securities Net gains (losses) from trading activities Other Total Year ended December 31, 2018 Net gains (losses) recognized on economic hedges derivatives: Interest contracts (1) $ (215 ) — — (15 ) (230 ) Equity contracts — (408 ) — 4 (404 ) Foreign exchange contracts — — — 669 669 Credit contracts — — — — — Subtotal (215 ) (408 ) — 658 35 Net gains (losses) recognized on customer accommodation trading and other derivatives: Interest contracts (352 ) — 446 — 94 Commodity contracts — — 83 — 83 Equity contracts — — 4,499 (403 ) 4,096 Foreign exchange contracts — — 638 — 638 Credit contracts — — 1 — 1 Subtotal (352 ) — 5,667 (403 ) 4,912 Net gains (losses) recognized related to derivatives not designated as hedging instruments $ (567 ) (408 ) 5,667 255 4,947 Year ended December 31, 2017 Net gains (losses) recognized on economic hedges derivatives: Interest contracts (1) $ 448 — — (75 ) 373 Equity contracts — (1,483 ) — 17 (1,466 ) Foreign exchange contracts — — — (866 ) (866 ) Credit contracts — — — 5 5 Subtotal 448 (1,483 ) — (919 ) (1,954 ) Net gains (losses) recognized on customer accommodation trading and other derivatives: Interest contracts 614 — 160 — 774 Commodity contracts — — 178 — 178 Equity contracts — — (3,932 ) 1 (3,931 ) Foreign exchange contracts — — 638 — 638 Credit contracts — — (81 ) — (81 ) Subtotal 614 — (3,037 ) 1 (2,422 ) Net gains (losses) recognized related to derivatives not designated as hedging instruments $ 1,062 (1,483 ) (3,037 ) (918 ) (4,376 ) (1) Mortgage banking amounts for the years ended December 31, 2019 , 2018 and 2017 , are comprised of gains (losses) of $2.3 billion , $(1.1) billion and $413 million , respectively, related to derivatives used as economic hedges of MSRs measured at fair value offset by gains (losses) of $(141) million , $857 million and $35 million , respectively, related to derivatives used as economic hedges of mortgage loans held for sale and derivative loan commitments. |
Sold and Purchased Credit Derivatives | Table 18.7 provides details of sold and purchased credit derivatives. Table 18.7: Sold and Purchased Credit Derivatives Notional amount (in millions) Fair value asset 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 December 31, 2019 Credit default swaps on: Corporate bonds $ 8 1 2,855 707 1,885 970 2,447 2020 - 2029 Structured products — 25 74 69 63 11 111 2022 - 2047 Credit protection on: Default swap index 1 — 2,542 120 550 1,992 8,105 2020 - 2029 Commercial mortgage-backed securities index 3 26 322 67 296 26 50 2047 - 2058 Asset-backed securities index — 8 41 41 41 — 1 2045 - 2046 Other — 5 6,381 5,738 — 6,381 11,881 2020 - 2049 Total credit derivatives $ 12 65 12,215 6,742 2,835 9,380 22,595 December 31, 2018 Credit default swaps on: Corporate bonds $ 38 59 2,037 441 1,374 663 1,460 2019 - 2027 Structured products — 62 133 128 121 12 113 2022 - 2047 Credit protection on: Default swap index 37 1 3,618 582 1,998 1,620 2,896 2019 - 2028 Commercial mortgage-backed securities index 1 49 389 109 363 26 51 2047 - 2058 Asset-backed securities index — 9 42 42 42 — 1 2045 - 2046 Other — 2 5,522 5,327 — 5,522 12,561 2018 - 2048 Total credit derivatives $ 76 182 11,741 6,629 3,898 7,843 17,082 |
Credit-Risk Contingent Features | Table 18.8 illustrates our exposure to such derivatives with credit-risk contingent features, collateral we have posted, and the additional collateral we would be required to post if the credit rating of our debt was downgraded below investment grade. Table 18.8: Credit-Risk Contingent Features Dec 31, Dec 31, (in billions) 2019 2018 Net derivative liabilities with credit-risk contingent features $ 10.4 7.4 Collateral posted 9.1 5.6 Additional collateral to be posted upon a below investment grade credit rating (1) 1.3 1.8 (1) Any credit rating below investment grade requires us to post the maximum amount of collateral |
Fair Values of Assets and Lia_2
Fair Values of Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements obtained from Third Party Pricing Services | Table 19.1 presents unadjusted fair value measurements obtained from third-party pricing services classified within the fair value hierarchy. Unadjusted fair value measurements obtained from brokers and fair value measurements obtained from brokers or third-party pricing services that we have adjusted to determine the fair value are excluded from Table 19.1 . The unadjusted fair value measurements obtained from brokers for AFS debt securities were $45 million in Level 2 assets and $126 million in Level 3 assets at December 31, 2019 , and $45 million and $129 million at December 31, 2018 , respectively. Table 19.1: Fair Value Measurements obtained from Third-Party Pricing Services December 31, 2019 December 31, 2018 (in millions) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Trading debt securities $ 634 329 — 899 256 — Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies 13,460 1,500 — 10,399 2,949 — Securities of U.S. states and political subdivisions — 39,868 34 — 48,377 43 Mortgage-backed securities — 167,172 42 — 160,162 41 Other debt securities (1) — 38,067 650 — 44,292 758 Total available-for-sale debt securities 13,460 246,607 726 10,399 255,780 842 Equity securities: Marketable — 110 — — 158 — Nonmarketable — — — — 1 — Total equity securities — 110 — — 159 — Derivative assets 12 1 — 17 — — Derivative liabilities (11 ) (3 ) — (12 ) — — (1) Includes corporate debt securities, collateralized loan and other debt obligations, asset-backed securities, and other debt securities. |
Fair Value on a Recurring Basis | Table 19.2 presents the balances of assets and liabilities recorded at fair value on a recurring basis. Table 19.2: Fair Value on a Recurring Basis (in millions) Level 1 Level 2 Level 3 Netting (1) Total December 31, 2019 Trading debt securities: Securities of U.S. Treasury and federal agencies $ 32,335 4,382 — — 36,717 Securities of U.S. states and political subdivisions — 2,434 — — 2,434 Collateralized loan obligations — 555 183 — 738 Corporate debt securities — 11,006 38 — 11,044 Mortgage-backed securities — 27,712 — — 27,712 Asset-backed securities — 1,081 — — 1,081 Other trading debt securities — 5 2 — 7 Total trading debt securities 32,335 47,175 223 — 79,733 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies 13,460 1,500 — — 14,960 Securities of U.S. states and political subdivisions — 39,924 413 — 40,337 Mortgage-backed securities: Federal agencies — 162,453 — — 162,453 Residential — 827 — — 827 Commercial — 3,892 42 — 3,934 Total mortgage-backed securities — 167,172 42 — 167,214 Corporate debt securities 37 6,159 367 — 6,563 Collateralized loan and other debt obligations — 29,055 640 — 29,695 Asset-backed securities: Automobile loans and leases — 951 — — 951 Home equity loans — — — — — Other asset-backed securities — 3,635 103 — 3,738 Total asset-backed securities — 4,586 103 — 4,689 Other debt securities — 1 — — 1 Total available-for-sale debt securities 13,497 248,397 1,565 (2) — 263,459 Mortgage loans held for sale — 15,408 1,198 — 16,606 Loans held for sale — 956 16 — 972 Loans — — 171 — 171 Mortgage servicing rights (residential) — — 11,517 — 11,517 Derivative assets: Interest rate contracts 26 23,792 229 — 24,047 Commodity contracts — 1,413 8 — 1,421 Equity contracts 2,946 4,135 1,455 — 8,536 Foreign exchange contracts 12 5,197 5 — 5,214 Credit contracts — 49 59 — 108 Netting — — — (25,123 ) (25,123 ) Total derivative assets 2,984 34,586 1,756 (25,123 ) 14,203 Equity securities - excluding securities at NAV: Marketable 33,702 216 3 — 33,921 Nonmarketable — 22 7,847 — 7,869 Total equity securities 33,702 238 7,850 — 41,790 Total assets included in the fair value hierarchy $ 82,518 346,760 24,296 (25,123 ) 428,451 Equity securities at NAV (3) 146 Total assets recorded at fair value 428,597 Derivative liabilities: Interest rate contracts $ (23 ) (19,328 ) (15 ) — (19,366 ) Commodity contracts — (1,746 ) (24 ) — (1,770 ) Equity contracts (2,011 ) (6,729 ) (1,724 ) — (10,464 ) Foreign exchange contracts (11 ) (6,213 ) (23 ) — (6,247 ) Credit contracts — (53 ) (30 ) — (83 ) Netting — — — 28,851 28,851 Total derivative liabilities (2,045 ) (34,069 ) (1,816 ) 28,851 (9,079 ) Short sale liabilities: Securities of U.S. Treasury and federal agencies (9,035 ) (31 ) — — (9,066 ) Mortgage-backed securities — (2 ) — — (2 ) Corporate debt securities — (5,915 ) — — (5,915 ) Equity securities (2,447 ) — — — (2,447 ) Other securities — — — — — Total short sale liabilities (11,482 ) (5,948 ) — — (17,430 ) Other liabilities — — (2 ) — (2 ) Total liabilities recorded at fair value $ (13,527 ) (40,017 ) (1,818 ) 28,851 (26,511 ) (1) Represents balance sheet netting of derivative asset and liability balances, related cash collateral and portfolio level counterparty valuation adjustments. See Note 18 (Derivatives) for additional information. (2) A significant portion of the balance consists of securities that are 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) Consists of certain nonmarketable equity securities 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 (1) Total December 31, 2018 Trading debt securities: Securities of U.S. Treasury and federal agencies $ 20,525 2,892 — — 23,417 Securities of U.S. states and political subdivisions — 3,272 3 — 3,275 Collateralized loan obligations — 673 237 — 910 Corporate debt securities — 10,723 34 — 10,757 Mortgage-backed securities — 30,715 — — 30,715 Asset-backed securities — 893 — — 893 Other trading debt securities — 6 16 — 22 Total trading debt securities 20,525 49,174 290 — 69,989 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies 10,399 2,949 — — 13,348 Securities of U.S. states and political subdivisions — 48,820 444 — 49,264 Mortgage-backed securities: Federal agencies — 153,203 — — 153,203 Residential — 2,775 — — 2,775 Commercial — 4,184 41 — 4,225 Total mortgage-backed securities — 160,162 41 — 160,203 Corporate debt securities 34 5,867 370 — 6,271 Collateralized loan and other debt obligations — 34,543 800 — 35,343 Asset-backed securities: Automobile loans and leases — 925 — — 925 Home equity loans — 112 — — 112 Other asset-backed securities — 4,056 389 — 4,445 Total asset-backed securities — 5,093 389 — 5,482 Other debt securities — 1 — — 1 Total available-for-sale debt securities 10,433 257,435 2,044 (2) — 269,912 Mortgage loans held for sale — 10,774 997 — 11,771 Loans held for sale — 1,409 60 — 1,469 Loans — — 244 — 244 Mortgage servicing rights (residential) — — 14,649 — 14,649 Derivative assets: Interest rate contracts 46 18,294 95 — 18,435 Commodity contracts — 1,535 53 — 1,588 Equity contracts 1,648 4,582 1,315 — 7,545 Foreign exchange contracts 17 6,689 8 — 6,714 Credit contracts — 179 99 — 278 Netting — — — (23,790 ) (23,790 ) Total derivative assets 1,711 31,279 1,570 (23,790 ) 10,770 Equity securities - excluding securities at NAV: Marketable 23,205 757 — — 23,962 Nonmarketable — 24 5,468 — 5,492 Total equity securities 23,205 781 5,468 — 29,454 Total assets included in the fair value hierarchy $ 55,874 350,852 25,322 (23,790 ) 408,258 Equity securities at NAV (3) 102 Total assets recorded at fair value 408,360 Derivative liabilities: Interest rate contracts $ (21 ) (16,217 ) (70 ) — (16,308 ) Commodity contracts — (2,287 ) (49 ) — (2,336 ) Equity contracts (1,492 ) (3,186 ) (1,332 ) — (6,010 ) Foreign exchange contracts (12 ) (7,067 ) (34 ) — (7,113 ) Credit contracts — (216 ) (64 ) — (280 ) Netting — — — 23,548 23,548 Total derivative liabilities (1,525 ) (28,973 ) (1,549 ) 23,548 (8,499 ) Short sale liabilities: Securities of U.S. Treasury and federal agencies (11,850 ) (411 ) — — (12,261 ) Mortgage-backed securities — (47 ) — — (47 ) Corporate debt securities — (4,505 ) — — (4,505 ) Equity securities (2,902 ) (2 ) — — (2,904 ) Other securities — (3 ) — — (3 ) Total short sale liabilities (14,752 ) (4,968 ) — — (19,720 ) Other liabilities — — (2 ) — (2 ) Total liabilities recorded at fair value $ (16,277 ) (33,941 ) (1,551 ) 23,548 (28,221 ) (1) Represents balance sheet netting of derivative asset and liability balances, related cash collateral and portfolio level counterparty valuation adjustments. See Note 18 (Derivatives) for additional information. (2) A significant portion of the balance consists of securities that are 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) 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 Level 3 Fair Value Assets and Liabilities on a Recurring Basis | The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the year ended December 31, 2017 , are presented in Table 19.7 . Table 19.7: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – 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 (2) Transfers out of Level 3 (3) Balance, end of period (4) Year ended December 31, 2017 Trading debt securities: Securities of U.S. states and political subdivisions $ 3 — — — — — 3 — Collateralized loan obligations 309 3 — 42 — — 354 (13 ) Corporate debt securities 34 2 — (7 ) 6 (4 ) 31 2 Other trading debt securities 28 (9 ) — — — — 19 (4 ) Total trading debt securities 374 (4 ) — 35 6 (4 ) 407 (15 ) (5) Available-for-sale debt securities: Securities of U.S. states and political subdivisions 1,140 4 5 1,105 5 (1,334 ) 925 — Mortgage-backed securities: Residential 1 — — — — — 1 — Commercial 91 (4 ) — (12 ) — — 75 (11 ) Total mortgage-backed securities 92 (4 ) — (12 ) — — 76 (11 ) Corporate debt securities 432 (1 ) 23 (47 ) — — 407 — Collateralized loan and other 879 22 103 16 — — 1,020 — Asset-backed securities: Other asset-backed securities 962 1 3 (400 ) — — 566 — Total asset-backed securities 962 1 3 (400 ) — — 566 — Total available-for-sale debt securities 3,505 22 134 662 5 (1,334 ) 2,994 (11 ) (6) Mortgage loans held for sale 985 (36 ) — (75 ) 134 (10 ) 998 (34 ) (7) Loans held for sale — 1 — (3 ) 34 (18 ) 14 — Loans 758 (6 ) — (376 ) — — 376 (12 ) (7) Mortgage servicing rights (residential) (8) 12,959 (2,115 ) — 2,781 — — 13,625 (126 ) (7) Net derivative assets and liabilities: Interest rate contracts 121 604 — (654 ) — — 71 (52 ) Commodity contracts 23 (17 ) — 13 2 (2 ) 19 15 Equity contracts (267 ) (199 ) — (37 ) (53 ) 45 (511 ) (259 ) Foreign exchange contracts 12 (5 ) — — — — 7 6 Credit contracts 77 24 — (65 ) — — 36 (62 ) Other derivative contracts (47 ) 27 — 20 — — — — Total derivative contracts (81 ) 434 — (723 ) (51 ) 43 (378 ) (352 ) (9) Equity securities: Marketable — — — — — — — — Nonmarketable 3,259 1,563 — (2 ) 1 — 4,821 1,569 Total equity securities 3,259 1,563 — (2 ) 1 — 4,821 1,569 (10) Short sale liabilities — — — — — — — — (5) Other liabilities (4 ) 1 — — — — (3 ) — (7) (1) See Table 19.8 for detail. (2) All assets and liabilities transferred into level 3 were previously classified within level 2. (3) All assets and liabilities transferred out of level 3 are classified as level 2. (4) 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. (5) Included in net gains (losses) from trading activities in the income statement. (6) Included in net gains (losses) from debt securities in the income statement. (7) Included in mortgage banking and other noninterest income in the income statement. (8) For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities). (9) Included in mortgage banking income, net gains from trading activities and from equity securities, and other noninterest income. (10) The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the year ended December 31, 2019 , are presented in Table 19.3 . Table 19.3: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – 2019 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 (2) Transfers out of Level 3 (3) Balance, end of period (4) Year ended December 31, 2019 Trading debt securities: Securities of U.S. states and political subdivisions $ 3 — — (2 ) — (1 ) — — Collateralized loan obligations 237 (30 ) — (22 ) — (2 ) 183 (35 ) Corporate debt securities 34 3 — 6 1 (6 ) 38 5 Other trading debt securities 16 (4 ) — (10 ) — — 2 (1 ) Total trading debt securities 290 (31 ) — (28 ) 1 (9 ) 223 (31 ) (5) Available-for-sale debt securities: Securities of U.S. states and political subdivisions 444 2 2 14 — (49 ) 413 — Mortgage-backed securities: Residential — — — — — — — — Commercial 41 — — (5 ) 6 — 42 — Total mortgage-backed securities 41 — — (5 ) 6 — 42 — Corporate debt securities 370 3 (5 ) (1 ) — — 367 (4 ) Collateralized loan and other debt obligations 800 29 (37 ) (152 ) — — 640 — Asset-backed securities: Other asset-backed securities 389 — — (133 ) — (153 ) 103 — Total asset-backed securities 389 — — (133 ) — (153 ) 103 — Total available-for-sale debt securities 2,044 34 (40 ) (277 ) 6 (202 ) 1,565 (4 ) (6) Mortgage loans held for sale 997 58 — (140 ) 299 (16 ) 1,198 54 (7) Loans held for sale 60 (2 ) — (4 ) 55 (93 ) 16 (3 ) Loans 244 — — (73 ) — — 171 (8 ) (7) Mortgage servicing rights (residential) (8) 14,649 (4,779 ) — 1,647 — — 11,517 (2,569 ) (7) Net derivative assets and liabilities: Interest rate contracts 25 585 — (396 ) — — 214 249 Commodity contracts 4 (203 ) — 158 2 23 (16 ) 9 Equity contracts (17 ) (571 ) — 292 6 21 (269 ) (186 ) Foreign exchange contracts (26 ) 34 — (26 ) — — (18 ) 9 Credit contracts 35 (7 ) — 1 — — 29 (6 ) Total derivative contracts 21 (162 ) — 29 8 44 (60 ) 75 (9) Equity securities: Marketable — — — — 3 — 3 — Nonmarketable 5,468 2,383 — (1 ) 9 (12 ) 7,847 2,386 Total equity securities 5,468 2,383 — (1 ) 12 (12 ) 7,850 2,386 (10) Other liabilities (2 ) — — — — — (2 ) — (7) (1) See Table 19.4 for detail. (2) All assets and liabilities transferred into level 3 were previously classified within level 2. (3) All assets and liabilities transferred out of level 3 are classified as level 2, except for $153 million of asset-backed securities that were transferred to loans during third quarter 2019. (4) 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. (5) Included in net gains (losses) from trading activities in the income statement. (6) Included in net gains (losses) from debt securities in the income statement. (7) Included in mortgage banking and other noninterest income in the income statement. (8) For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities). (9) Included in mortgage banking income, net gains from trading activities and from equity securities, and other noninterest income. (10) Included in net gains (losses) from equity securities in the income statement. The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the year ended December 31, 2018 , are presented in Table 19.5 . Table 19.5: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – 2018 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 (2) Transfers out of Level 3 (3) Balance, end of period (4) Year ended December 31, 2018 Trading debt securities: Securities of U.S. states and political subdivisions $ 3 — — — — — 3 — Collateralized loan obligations 354 (12 ) — (101 ) — (4 ) 237 (14 ) Corporate debt securities 31 (1 ) — 16 — (12 ) 34 (1 ) Other trading debt securities 19 (3 ) — — — — 16 — Total trading debt securities 407 (16 ) — (85 ) — (16 ) 290 (15 ) (5) Available-for-sale debt securities: Securities of U.S. states and political subdivisions 925 8 (8 ) (137 ) — (344 ) 444 — Mortgage-backed securities: Residential 1 — — (1 ) — — — — Commercial 75 — (1 ) (33 ) — — 41 (1 ) Total mortgage-backed securities 76 — (1 ) (34 ) — — 41 (1 ) Corporate debt securities 407 4 (3 ) (38 ) — — 370 — Collateralized loan and other 1,020 72 5 (297 ) — — 800 — Asset-backed securities: Other asset-backed securities 566 5 (11 ) (171 ) — — 389 (3 ) Total asset-backed securities 566 5 (11 ) (171 ) — — 389 (3 ) Total available-for-sale debt securities 2,994 89 (18 ) (677 ) — (344 ) 2,044 (4 ) (6) Mortgage loans held for sale 998 (27 ) — (36 ) 72 (10 ) 997 (22 ) (7) Loans held for sale 14 2 — (36 ) 80 — 60 1 Loans 376 (1 ) — (131 ) — — 244 (11 ) (7) Mortgage servicing rights (residential) (8) 13,625 (915 ) — 1,939 — — 14,649 960 (7) Net derivative assets and liabilities: Interest rate contracts 71 (397 ) — 351 — — 25 (42 ) Commodity contracts 19 3 — (11 ) (7 ) — 4 (1 ) Equity contracts (511 ) (108 ) — 522 (1 ) 81 (17 ) (169 ) Foreign exchange contracts 7 (42 ) — 9 — — (26 ) (26 ) Credit contracts 36 5 — (6 ) — — 35 (1 ) Total derivative contracts (378 ) (539 ) — 865 (8 ) 81 21 (239 ) (9) Equity securities: Marketable — — — — — — — — Nonmarketable (10) 5,203 703 — (450 ) 16 (4 ) 5,468 642 Total equity securities 5,203 703 — (450 ) 16 (4 ) 5,468 642 (11) Other liabilities (3 ) 1 — — — — (2 ) — (7) (1) See Table 19.6 for detail. (2) All assets and liabilities transferred into level 3 were previously classified within level 2. (3) All assets and liabilities transferred out of level 3 are classified as level 2. (4) 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. (5) Included in net gains (losses) from trading activities in the income statement. (6) Included in net gains (losses) from debt securities in the income statement. (7) Included in mortgage banking and other noninterest income in the income statement. (8) For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities) (9) Included in mortgage banking income, net gains from trading activities and from equity securities, and other noninterest income. (10) Beginning balance includes $382 million of auction rate securities, which changed from the cost to fair value method of accounting in connection with our adoption of ASU 2016-01 in first quarter 2018. (11) Included in net gains (losses) from equity securities in the income statement. |
Gross Purchases, Sales, Issuances and Settlements - Level 3 | Table 19.4 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 year ended December 31, 2019 . Table 19.4: Gross Purchases, Sales, Issuances and Settlements – Level 3 – 2019 (in millions) Purchases Sales Issuances Settlements Net Year ended December 31, 2019 Trading debt securities: Securities of U.S. states and political subdivisions $ — — — (2 ) (2 ) Collateralized loan obligations 372 (372 ) — (22 ) (22 ) Corporate debt securities 19 (13 ) — — 6 Other trading debt securities — — — (10 ) (10 ) Total trading debt securities 391 (385 ) — (34 ) (28 ) Available-for-sale debt securities: Securities of U.S. states and political subdivisions — — 169 (155 ) 14 Mortgage-backed securities: Residential — — — — — Commercial — — — (5 ) (5 ) Total mortgage-backed securities — — — (5 ) (5 ) Corporate debt securities 18 — — (19 ) (1 ) Collateralized loan and other debt obligations 155 — — (307 ) (152 ) Asset-backed securities: Other asset-backed securities — (9 ) 133 (257 ) (133 ) Total asset-backed securities — (9 ) 133 (257 ) (133 ) Total available-for-sale debt securities 173 (9 ) 302 (743 ) (277 ) Mortgage loans held for sale 96 (235 ) 248 (249 ) (140 ) Loans held for sale 12 (2 ) — (14 ) (4 ) Loans 3 — 10 (86 ) (73 ) Mortgage servicing rights (residential) (1) — (286 ) 1,933 — 1,647 Net derivative assets and liabilities: Interest rate contracts — — — (396 ) (396 ) Commodity contracts — — — 158 158 Equity contracts — — — 292 292 Foreign exchange contracts — — — (26 ) (26 ) Credit contracts 13 (12 ) — — 1 Total derivative contracts 13 (12 ) — 28 29 Equity securities: Nonmarketable — (1 ) — — (1 ) Total equity securities — (1 ) — — (1 ) Other liabilities — — — — — (1) For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities). Table 19.8 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 year ended December 31, 2017 . Table 19.8: Gross Purchases, Sales, Issuances and Settlements – Level 3 – 2017 (in millions) Purchases Sales Issuances Settlements Net Year ended December 31, 2017 Trading debt securities: Securities of U.S. states and political subdivisions $ 37 (36 ) — (1 ) — Collateralized loan obligations 439 (250 ) — (147 ) 42 Corporate debt securities 25 (32 ) — — (7 ) Other trading debt securities — — — — — Total trading debt securities 501 (318 ) — (148 ) 35 Available-for-sale debt securities: Securities of U.S. states and political subdivisions — (68 ) 1,369 (196 ) 1,105 Mortgage-backed securities: Residential — — — — — Commercial — — — (12 ) (12 ) Total mortgage-backed securities — — — (12 ) (12 ) Corporate debt securities 14 (4 ) — (57 ) (47 ) Collateralized loan and other debt obligations 135 — — (119 ) 16 Asset-backed securities: Other asset-backed securities — — 211 (611 ) (400 ) Total asset-backed securities — — 211 (611 ) (400 ) Total available-for-sale debt securities 149 (72 ) 1,580 (995 ) 662 Mortgage loans held for sale 79 (485 ) 489 (158 ) (75 ) Loans held for sale — (2 ) — (1 ) (3 ) Loans 6 (129 ) 19 (272 ) (376 ) Mortgage servicing rights (residential) (1) 541 (24 ) 2,263 1 2,781 Net derivative assets and liabilities: Interest rate contracts — — — (654 ) (654 ) Commodity contracts — — — 13 13 Equity contracts — (118 ) — 81 (37 ) Foreign exchange contracts — — — — — Credit contracts 6 (3 ) — (68 ) (65 ) Other derivative contracts — — — 20 20 Total derivative contracts 6 (121 ) — (608 ) (723 ) Equity securities: Marketable — — — — — Nonmarketable — (2 ) — — (2 ) Total equity securities — (2 ) — — (2 ) Short sale liabilities 3 (3 ) — — — Other liabilities — — — — — (1) For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities). Table 19.6 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 year ended December 31, 2018 . Table 19.6: Gross Purchases, Sales, Issuances and Settlements – Level 3 – 2018 (in millions) Purchases Sales Issuances Settlements Net Year ended December 31, 2018 Trading debt securities: Securities of U.S. states and political subdivisions $ — — — — — Collateralized loan obligations 408 (348 ) — (161 ) (101 ) Corporate debt securities 20 (4 ) — — 16 Other trading debt securities — — — — — Total trading debt securities 428 (352 ) — (161 ) (85 ) Available-for-sale debt securities: Securities of U.S. states and political subdivisions — (6 ) 79 (210 ) (137 ) Mortgage-backed securities: Residential — — — (1 ) (1 ) Commercial — — — (33 ) (33 ) Total mortgage-backed securities — — — (34 ) (34 ) Corporate debt securities 33 — — (71 ) (38 ) Collateralized loan and other debt obligations 61 (149 ) — (209 ) (297 ) Asset-backed securities: Other asset-backed securities 25 (12 ) 166 (350 ) (171 ) Total asset-backed securities 25 (12 ) 166 (350 ) (171 ) Total available-for-sale debt securities 119 (167 ) 245 (874 ) (677 ) Mortgage loans held for sale 87 (320 ) 353 (156 ) (36 ) Loans held for sale 4 (40 ) — — (36 ) Loans 8 — 17 (156 ) (131 ) Mortgage servicing rights (residential) (1) — (71 ) 2,010 — 1,939 Net derivative assets and liabilities: Interest rate contracts — — — 351 351 Commodity contracts — — — (11 ) (11 ) Equity contracts 3 (37 ) — 556 522 Foreign exchange contracts — — — 9 9 Credit contracts 12 (7 ) — (11 ) (6 ) Total derivative contracts 15 (44 ) — 894 865 Equity securities: Marketable — — — — — Nonmarketable — (51 ) — (399 ) (450 ) Total equity securities — (51 ) — (399 ) (450 ) Other liabilities — — — — — (1) For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities). |
Valuation Techniques - Recurring Basis | Table 19.9 and Table 19.10 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 inherent in the fair values obtained from third-party vendors are not included in the table, as the specific inputs applied are not provided by the vendor (see discussion in the “Level 3 Asset and Liability Valuation Processes” section within this Note regarding vendor-developed valuations). In addition, the table excludes the valuation techniques and significant unobservable inputs for certain classes of Level 3 assets and liabilities measured using internal models 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 . Weighted averages of inputs are calculated using outstanding unpaid principal balance for cash instruments, such as loans and securities, and notional amounts for derivative instruments. Table 19.9: Valuation Techniques – Recurring Basis – Dece mber 31, 2019 ($ in millions, except cost to service amounts) Fair Value Level 3 Valuation Technique(s) Significant Unobservable Input Range of Inputs Weighted Average December 31, 2019 Trading and available-for-sale debt securities: Securities of U.S. states and political subdivisions: Government, healthcare and other revenue bonds $ 379 Discounted cash flow Discount rate 1.3 - 5.4 % 2.4 34 Vendor priced Collateralized loan and other debt obligations 183 Market comparable pricing Comparability adjustment (15.0 ) - 19.2 1.3 640 Vendor priced Corporate debt securities 220 Discounted cash flow Discount rate 3.2 14.9 9.2 60 Market comparable pricing Comparability adjustment (19.7 ) 14 (4.4 ) 125 Vendor priced Asset-backed securities: Diversified payment rights (1) 92 Discounted cash flow Discount rate 2.3 - 3.1 2.8 Other commercial and consumer 11 Vendor priced Mortgage loans held for sale (residential) 1,183 Discounted cash flow Default rate 0.0 - 15.5 0.7 Discount rate 3.0 - 5.6 4.5 Loss severity 0.0 - 43.5 21.7 Prepayment rate 5.7 - 15.4 7.8 15 Market comparable pricing Comparability adjustment (56.3 ) - (6.3 ) (40.3 ) Loans (2) 171 Discounted cash flow Discount rate 3.9 - 4.3 4.1 Prepayment rate 6.0 - 100.0 85.6 Loss severity 0.0 - 36.5 14.1 Mortgage servicing rights (residential) 11,517 Discounted cash flow Cost to service per loan (3) $ 61 - 495 102 Discount rate 6.0 - 13.6 % 7.2 Prepayment rate (4) 9.6 - 24.4 11.9 Net derivative assets and (liabilities): Interest rate contracts 146 Discounted cash flow Default rate 0.0 - 5.0 1.7 Loss severity 50.0 - 50.0 50.0 Prepayment rate 2.8 - 25.0 15.0 Interest rate contracts: derivative loan commitments 68 Discounted cash flow Fall-out factor 1.0 - 99.0 16.7 Initial-value servicing (32.2 ) - 149.0 bps 36.4 Equity contracts 147 Discounted cash flow Conversion factor (8.8 ) - 0.0 % (7.7 ) Weighted average life 0.5 - 3.0 yrs 1.5 (416 ) Option model Correlation factor (77.0 ) - 99.0 % 23.8 Volatility factor 6.8 - 100.0 18.7 Credit contracts 2 Market comparable pricing Comparability adjustment (56.1 ) - 10.8 (16.0 ) 27 Option model Credit spread 0.0 - 17.8 0.8 Loss severity 12.0 - 60.0 45.6 Nonmarketable equity securities 7,847 Market comparable pricing Comparability adjustment (20.2 ) - (4.2 ) (14.6 ) Insignificant Level 3 assets, net of liabilities 27 Total level 3 assets, net of liabilities $ 22,478 (5) (1) Securities backed by specified sources of current and future receivables generated from non-U.S. originators. (2) Consists of reverse mortgage loans. (3) The high end of the range of inputs is for servicing modified loans. For non-modified loans the range is $61 - $231 . (4) 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. (5) Consists of total Level 3 assets of $24.3 billion and total Level 3 liabilities of $1.8 billion , before netting of derivative balances. Table 19.10: Valuation Techniques – Recurring Basis – Dece mber 31, 2018 ($ in millions, except cost to service amounts) Fair Value Level 3 Valuation Technique(s) Significant Unobservable Input Range of Inputs Weighted December 31, 2018 Trading and available-for-sale debt securities: Securities of U.S. states and political subdivisions: Government, healthcare and other revenue bonds $ 404 Discounted cash flow Discount rate 2.1 - 6.4 % 3.4 43 Vendor priced Collateralized loan and other debt obligations 298 Market comparable pricing Comparability adjustment (13.5 ) - 22.1 % 3.2 739 Vendor priced Corporate debt securities 220 Discounted cash flow Discount rate 4.0 11.7 8.5 56 Market comparable pricing Comparability adjustment (11.3 ) 16.6 (1.4 ) 128 Vendor priced Asset-backed securities: Diversified payment rights (1) 171 Discounted cash flow Discount rate 3.4 - 6.2 4.4 Other commercial and consumer 198 (2) Discounted cash flow Discount rate 4.6 - 5.2 4.7 Weighted average life 1.1 - 1.5 yrs 1.1 20 Vendor priced Mortgage loans held for sale (residential) 982 Discounted cash flow Default rate 0.0 - 15.6 % 0.8 Discount rate 1.1 - 6.6 5.5 Loss severity 0.0 - 43.3 23.4 Prepayment rate 3.2 - 13.4 4.6 15 Market comparable pricing Comparability adjustment (56.3 ) - (6.3 ) (36.3 ) Loans (3) 244 Discounted cash flow Discount rate 3.4 - 6.4 4.2 Prepayment rate 2.9 - 100.0 87.2 Loss severity 0.0 - 34.8 10.2 Mortgage servicing rights (residential) 14,649 Discounted cash flow Cost to service per loan (4) $ 62 - 507 106 Discount rate 7.1 - 15.3 % 8.1 Prepayment rate (5) 9.0 - 23.5 9.9 Net derivative assets and (liabilities): Interest rate contracts (35 ) Discounted cash flow Default rate 0.0 - 5.0 2.0 Loss severity 50.0 - 50.0 50.0 Prepayment rate 2.8 - 25.0 13.8 Interest rate contracts: derivative loan commitments 60 Discounted cash flow Fall-out factor 1.0 - 99.0 19.4 Initial-value servicing (36.6 ) - 91.7 bps 18.5 Equity contracts 104 Discounted cash flow Conversion factor (9.3 ) - 0.0 % (7.8 ) Weighted average life 1.0 - 3.0 yrs 1.8 (121 ) Option model Correlation factor (77.0 ) - 99.0 % 21.6 Volatility factor 6.5 - 100.0 21.8 Credit contracts 3 Market comparable pricing Comparability adjustment (15.5 ) - 40.0 3.5 32 Option model Credit spread 0.9 - 21.5 1.3 Loss severity 13.0 - 60.0 45.2 Nonmarketable equity securities 5,468 Market comparable pricing Comparability adjustment (20.6 ) - (4.3 ) (15.8 ) Insignificant Level 3 assets, net of liabilities 93 Total level 3 assets, net of liabilities $ 23,771 (6) (1) Securities backed by specified sources of current and future receivables generated from non-U.S. originators. (2) Predominantly consists of investments in asset-backed securities that are revolving in nature, for which the timing of advances and repayments of principal are uncertain. (3) Consists of reverse mortgage loans. (4) The high end of the range of inputs is for servicing modified loans. For non-modified loans the range is $62 - $204 . (5) 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. (6) Consists of total Level 3 assets of $25.3 billion and total Level 3 liabilities of $1.6 billion , before netting of derivative balances. |
Fair Value on a Nonrecurring Basis | Table 19.11 provides the fair value hierarchy and fair value at the date of the nonrecurring fair value adjustment for all assets that were still held as of December 31, 2019 and 2018 , and for which a nonrecurring fair value adjustment was recorded during the years then ended. Table 19.12 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 19.11: Fair Value on a Nonrecurring Basis December 31, 2019 December 31, 2018 (in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Mortgage loans held for sale (1) $ — 2,034 3,803 5,837 — 1,213 1,233 2,446 Loans held for sale — 5 — 5 — 313 — 313 Loans: Commercial — 280 — 280 — 339 — 339 Consumer — 213 1 214 — 346 1 347 Total loans — 493 1 494 — 685 1 686 Nonmarketable equity securities — 1,308 173 1,481 — 774 157 931 Other assets — 359 27 386 — 149 6 155 Total assets at fair value on a nonrecurring basis $ — 4,199 4,004 8,203 — 3,134 1,397 4,531 (1) Consists of commercial mortgages and residential real estate 1-4 family first mortgage loans. |
Changes in Value of Assets with Nonrecurring Fair Value Adjustment | Table 19.12: Change in Value of Assets with Nonrecurring Fair Value Adjustment Year ended December 31, (in millions) 2019 2018 Mortgage loans held for sale $ 11 21 Loans held for sale — (39 ) Loans: Commercial (291 ) (221 ) Consumer (207 ) (284 ) Total loans (498 ) (505 ) Nonmarketable equity securities 322 265 Premises and equipment (170 ) — Other assets (84 ) (40 ) Total $ (419 ) (298 ) |
Valuation Techniques - Nonrecurring Basis | Table 19.13 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 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 19.13: Valuation Techniques – Nonrecurring Basis ($ in millions) Fair Value Level 3 Valuation Technique(s) (1) Significant Unobservable Inputs (1) Range of inputs Weighted Average (2) December 31, 2019 Residential mortgage loans held for sale $ 3,803 (3) Discounted cash flow Default rate (4) 0.3 – 48.3 % 4.6 % Discount rate 1.5 – 9.4 4.3 Loss severity 0.4 – 100.0 23.4 Prepayment rate (5) 4.8 – 100.0 23.2 Insignificant Level 3 assets 201 Total $ 4,004 December 31, 2018 Residential mortgage loans held for sale $ 1,233 (3) Discounted cash flow Default rate (4) 0.2 – 2.3 % 1.4 % Discount rate 1.5 – 8.5 4.0 Loss severity 0.5 – 66.0 1.7 Prepayment rate (5) 3.5 – 100.0 46.5 Insignificant Level 3 assets 164 Total $ 1,397 (1) Refer to the narrative following Table 19.10 for a definition of the valuation technique(s) and significant unobservable inputs. (2) For residential MLHFS, weighted averages are calculated using the outstanding unpaid principal balance of the loans. (3) Consists of approximately $1.3 billion and $1.2 billion of government insured/guaranteed loans purchased from GNMA-guaranteed mortgage securitizations at December 31, 2019 and 2018 , respectively, and $2.5 billion and $27 million , respectively, of other mortgage loans that are not government insured/guaranteed. (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 | Table 19.14 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 19.14: Fair Value Option December 31, 2019 December 31, 2018 (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 Mortgage loans held for sale: Total loans $ 16,606 16,279 327 11,771 11,573 198 Nonaccrual loans 133 157 (24 ) 127 158 (31 ) Loans 90 days or more past due and still accruing 8 10 (2 ) 7 9 (2 ) Loans held for sale: Total loans 972 1,020 (48 ) 1,469 1,536 (67 ) Nonaccrual loans 21 29 (8 ) 21 32 (11 ) Loans: Total loans 171 201 (30 ) 244 274 (30 ) Nonaccrual loans 129 159 (30 ) 179 208 (29 ) |
Fair Value Option - Changes in Fair Value Included in Earnings | 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 19.15 by income statement line item. Amounts recorded as interest income are excluded from Table 19.15 . Table 19.15: Fair Value Option – Changes in Fair Value Included in Earnings Year ended December 31, 2019 2018 2017 (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 Mortgage banking noninterest income Net gains (losses) from trading activities Other noninterest income Mortgage loans held for sale $ 1,064 — — 462 — — 1,229 — — Loans held for sale — 11 2 — (1 ) 1 — 45 2 Loans — — — — — (1 ) — — — |
Fair Value Option - Gains/Losses Attributable to Instrument-Specific Credit Risk | Table 19.16 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 19.16: Fair Value Option – Gains/Losses Attributable to Instrument-Specific Credit Risk Year ended December 31, (in millions) 2019 2018 2017 Gains (losses) attributable to instrument-specific credit risk: Mortgage loans held for sale $ 2 (16 ) (12 ) Loans held for sale 13 — 45 Total $ 15 (16 ) 33 |
Fair Value Estimates for Financial Instruments | Table 19.17 presents a summary of fair value estimates for financial instruments that are not carried at fair value on a recurring basis. Some financial instruments are excluded from the scope of this table, such as certain insurance contracts and leases. This table also excludes assets and liabilities that are not financial instruments such as the value of the long-term relationships with our deposit, credit card and trust customers, MSRs, premises and equipment, goodwill and deferred taxes. Loan commitments, standby letters of credit and commercial and similar letters of credit are not included in Table 19.17 . A reasonable estimate of the fair value of these instruments is the carrying value of deferred fees plus the allowance for unfunded credit commitments, which totaled $1.0 billion at both December 31, 2019 and 2018 . The total of the fair value calculations presented does not represent, and should not be construed to represent, the underlying fair value of the Company. Table 19.17: Fair Value Estimates for Financial Instruments Estimated fair value (in millions) Carrying amount Level 1 Level 2 Level 3 Total December 31, 2019 Financial assets Cash and due from banks (1) $ 21,757 21,757 — — 21,757 Interest-earning deposits with banks (1) 119,493 119,257 236 — 119,493 Federal funds sold and securities purchased under resale agreements (1) 102,140 — 102,140 — 102,140 Held-to-maturity debt securities 153,933 46,138 109,933 789 156,860 Mortgage loans held for sale 6,736 — 2,939 4,721 7,660 Loans held for sale 5 — 5 — 5 Loans, net (2) 933,042 — 54,125 891,714 945,839 Nonmarketable equity securities (cost method) 4,790 — — 4,823 4,823 Total financial assets $ 1,341,896 187,152 269,378 902,047 1,358,577 Financial liabilities Deposits (3) $ 118,849 — 87,279 31,858 119,137 Short-term borrowings 104,512 — 104,513 — 104,513 Long-term debt (4) 228,159 — 231,332 1,720 233,052 Total financial liabilities $ 451,520 — 423,124 33,578 456,702 December 31, 2018 Financial assets Cash and due from banks (1) $ 23,551 23,551 — — 23,551 Interest-earning deposits with banks (1) 149,736 149,542 194 — 149,736 Federal funds sold and securities purchased under resale agreements (1) 80,207 — 80,207 — 80,207 Held-to-maturity debt securities 144,788 44,339 97,275 501 142,115 Mortgage loans held for sale 3,355 — 2,129 1,233 3,362 Loans held for sale 572 — 572 — 572 Loans, net (2) 923,703 — 45,190 872,725 917,915 Nonmarketable equity securities (cost method) 5,643 — — 5,675 5,675 Total financial assets $ 1,331,555 217,432 225,567 880,134 1,323,133 Financial liabilities Deposits (3) $ 130,645 — 107,448 22,641 130,089 Short-term borrowings 105,787 — 105,789 — 105,789 Long-term debt (4) 229,008 — 225,904 2,230 228,134 Total financial liabilities $ 465,440 — 439,141 24,871 464,012 (1) Amounts consist of financial instruments for which carrying value approximates fair value. (2) Excludes lease financing with a carrying amount of $19.5 billion and $19.7 billion at December 31, 2019 and 2018 , respectively. (3) Excludes deposit liabilities with no defined or contractual maturity of $1.2 trillion at both December 31, 2019 and 2018 . (4) Excludes capital lease obligations under capital leases of $32 million and $36 million at December 31, 2019 and 2018 , respectively. |
Preferred Stock (Tables)
Preferred Stock (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Preferred Stock [Abstract] | |
Preferred Stock Shares | Table 20.1: Preferred Stock Shares December 31, 2019 December 31, 2018 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 I Floating Class A Preferred Stock (1) 100,000 25,010 100,000 25,010 Series K Floating Non-Cumulative Perpetual Class A Preferred Stock (2)(3) 1,000 3,500,000 1,000 3,500,000 Series L 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock (4) 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 Series Y 5.625% Non-Cumulative Perpetual Class A Preferred Stock 25,000 27,600 25,000 27,600 ESOP Cumulative Convertible Preferred Stock (5) — 1,071,418 — 1,406,460 Total 9,251,728 9,586,770 (1) Series I preferred stock issuance relates to trust preferred securities. See Note 10 (Securitizations and Variable Interest Entities) for additional information. This issuance has a floating interest rate that is the greater of three-month LIBOR plus 0.93% and 5.56975%. (2) Floating rate for Preferred Stock, Series K, is three-month LIBOR plus 3.77%. (3) In third quarter 2019, 1,550,000 shares of Preferred Stock, Series K, were redeemed. (4) Preferred Stock, Series L, may be converted at any time, at the option of the holder, into 6.3814 shares of our common stock, plus cash in lieu of fractional shares, subject to anti-dilution adjustments. (5) 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 20.2: Preferred Stock – Shares Issued and Carrying Value December 31, 2019 December 31, 2018 (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)(2) Floating Class A Preferred Stock 25,010 2,501 2,501 — 25,010 2,501 2,501 — Series K (1)(3)(4) Floating Non-Cumulative Perpetual Class A Preferred Stock 1,802,000 1,802 1,546 256 3,352,000 3,352 2,876 476 Series L (1)(5) 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock 3,967,995 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 — Series Y (1) 5.625% Non-Cumulative Perpetual Class A Preferred Stock 27,600 690 690 — 27,600 690 690 — ESOP Cumulative Convertible Preferred Stock 1,071,418 1,072 1,072 — 1,406,460 1,407 1,407 — Total 7,492,169 $ 22,573 21,549 1,024 9,377,216 $ 24,458 23,214 1,244 (1) Preferred shares qualify as Tier 1 capital. (2) Floating rate for Preferred Stock, Series I, is the greater of three-month LIBOR plus 0.93% and 5.56975%. (3) Floating rate for Preferred Stock, Series K, is three-month LIBOR plus 3.77%. (4) In third quarter 2019, 1,550,000 shares of Preferred Stock, Series K, were redeemed. (5) Preferred Stock, Series L, may be converted at any time, at the option of the holder, into 6.3814 shares of our common stock, plus cash in lieu of fractional shares, subject to anti-dilution adjustments. |
ESOP Preferred Stock | Table 20.3: ESOP Preferred Stock Shares issued and outstanding Carrying value Adjustable dividend rate Dec 31, Dec 31, Dec 31, Dec 31, (in millions, except shares) 2019 2018 2019 2018 Minimum Maximum ESOP Preferred Stock $1,000 liquidation preference per share 2018 254,945 336,945 $ 255 337 7.00 % 8.00 % 2017 192,210 222,210 192 222 7.00 8.00 2016 197,450 233,835 198 234 9.30 10.30 2015 116,784 144,338 117 144 8.90 9.90 2014 136,151 174,151 136 174 8.70 9.70 2013 97,948 133,948 98 134 8.50 9.50 2012 49,134 77,634 49 78 10.00 11.00 2011 26,796 61,796 27 62 9.00 10.00 2010 (1) — 21,603 — 22 9.50 10.50 Total ESOP Preferred Stock (2) 1,071,418 1,406,460 $ 1,072 1,407 Unearned ESOP shares (3) $ (1,143 ) (1,502 ) (1) In April 2019, all of the 2010 ESOP Preferred Stock was converted into common stock. (2) At December 31, 2019 and 2018 , additional paid-in capital included $71 million and $95 million , respectively, related to ESOP preferred stock. (3) 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. |
Common Stock and Stock Plans (T
Common Stock and Stock Plans (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Common Stock Shares | Table 21.1 presents our reserved, issued and authorized shares of common stock at December 31, 2019 . Table 21.1: Common Stock Shares Number of shares Dividend reinvestment and common stock purchase plans 6,774,855 Director plans 375,293 Stock plans (1) 488,214,122 Convertible securities and warrants 65,835,437 Total shares reserved 561,199,707 Shares issued 5,481,811,474 Shares not reserved or issued 2,956,988,819 Total shares authorized 9,000,000,000 (1) Includes employee restricted share rights, performance share awards, 401(k), and deferred compensation plans. |
Stock Incentive Compensation Expense | Table 21.2 summarizes the major components of stock incentive compensation expense and the related recognized tax benefit. Table 21.2: Stock Incentive Compensation Expense Year ended December 31, (in millions) 2019 2018 2017 RSRs (1) $ 1,109 1,013 743 Performance shares 108 9 112 Stock options — — (6 ) Total stock incentive compensation expense $ 1,217 1,022 849 Related recognized tax benefit $ 301 252 320 (1) In February 2018, a total of 11.9 million RSRs were granted to all eligible team members in the U.S., and eligible team members outside the U.S., referred to as broad-based RSRs. |
Restricted Share Rights | A summary of the status of our RSRs at December 31, 2019 , and changes during 2019 is presented in Table 21.3 . Table 21.3: Restricted Share Rights Number Weighted- average grant-date fair value Nonvested at January 1, 2019 45,572,498 $ 54.85 Granted 22,743,879 49.32 Vested (15,281,949 ) 55.03 Canceled or forfeited (2,118,967 ) 55.37 Nonvested at December 31, 2019 50,915,461 52.30 |
Performance Share Awards | A summary of the status of our PSAs at December 31, 2019 , and changes during 2019 is in Table 21.4 , based on the performance adjustments recognized as of December 2019 . Table 21.4: Performance Share Awards Number Weighted- average grant-date fair value (1) Nonvested at January 1, 2019 5,984,686 $ 49.91 Granted 2,320,530 49.26 Vested (1,610,502 ) 48.59 Canceled or forfeited (190,501 ) 56.48 Nonvested at December 31, 2019 6,504,213 49.81 (1) Reflects approval date fair value for grants subject to variable accounting. |
Stock Option Activity | Table 21.5 summarizes stock option activity and related information for the stock plans. Options assumed in mergers are included in the activity and related information for Incentive Compensation Plans if originally issued under an employee plan, and in the activity and related information for Director Awards if originally issued under a director plan. Table 21.5: Stock Option Activity Number Weighted- average exercise price Weighted- average remaining contractual term (in yrs.) Aggregate intrinsic value (in millions) Incentive compensation plans Options outstanding as of December 31, 2018 8,343,157 $ 13.46 Canceled or forfeited (170,141 ) 13.05 Exercised (8,112,456 ) 13.34 Options exercisable and outstanding as of December 31, 2019 60,560 30.69 0.3 $ 1 |
Common Stock and Unreleased Preferred Stock in the Wells Fargo ESOP Fund | Table 21.6 presents the balance of common stock and unreleased preferred stock held in the Wells Fargo ESOP fund, the fair value of unreleased ESOP preferred stock and the dividends on allocated shares of common stock and unreleased ESOP Preferred Stock paid to the 401(k) Plan. Table 21.6: Common Stock and Unreleased Preferred Stock in the Wells Fargo ESOP Fund Shares outstanding December 31, (in millions, except shares) 2019 2018 2017 Allocated shares (common) 138,978,383 138,182,911 124,670,717 Unreleased shares (preferred) 1,071,418 1,406,460 1,556,104 Fair value of unreleased ESOP preferred shares $ 1,072 1,407 1,556 Dividends paid Year ended December 31, 2019 2018 2017 Allocated shares (common) $ 233 213 195 Unreleased shares (preferred) 101 159 166 |
Revenue from Contracts with C_2
Revenue from Contracts with Customers (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue by Operating Segment | Table 22.1 presents our revenue by operating segment. The “Other” segment for each of the tables below includes the elimination of certain items that are included in more than one business segment, substantially all of which represents products and services for WIM customers served through Community Banking distribution channels. For additional description of our operating segments, including additional financial information and the underlying management accounting process, see Note 27 (Operating Segments). We adopted ASU 2014-09 – Revenue from Contracts with Customers on a modified retrospective basis as of January 1, 2018. For details on the impact of the adoption of this ASU, see Note 1 (Summary of Significant Accounting Policies) in our 2018 Form 10-K. Table 22.1 : Revenue by Operating Segment Year ended December 31, 2019 (in millions) Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated Net interest income (1) $ 27,610 17,699 4,037 (2,115 ) 47,231 Noninterest income: Service charges on deposit accounts 2,823 1,974 16 (15 ) 4,798 Trust and investment fees: Brokerage advisory, commissions and other fees 1,931 292 8,946 (1,932 ) 9,237 Trust and investment management 805 486 2,587 (840 ) 3,038 Investment banking (93 ) 1,889 6 (5 ) 1,797 Total trust and investment fees 2,643 2,667 11,539 (2,777 ) 14,072 Card fees 3,655 359 6 (4 ) 4,016 Other fees: Lending related charges and fees (1)(2) 239 1,139 8 (7 ) 1,379 Cash network fees 452 — — — 452 Commercial real estate brokerage commissions — 358 — — 358 Wire transfer and other remittance fees 274 196 8 (4 ) 474 All other fees (1) 313 108 1 (1 ) 421 Total other fees 1,278 1,801 17 (12 ) 3,084 Mortgage banking (1) 2,307 412 (12 ) 8 2,715 Insurance (1) 44 303 72 (41 ) 378 Net gains (losses) from trading activities (1) 24 915 53 1 993 Net gains (losses) on debt securities (1) 51 89 — — 140 Net gains (losses) from equity securities (1) 2,155 416 272 — 2,843 Lease income (1) — 1,612 — — 1,612 Other income of the segment (1) 2,726 (570 ) 1,341 (316 ) 3,181 Total noninterest income 17,706 9,978 13,304 (3,156 ) 37,832 Revenue $ 45,316 27,677 17,341 (5,271 ) 85,063 Year ended December 31, 2018 Net interest income (1) $ 29,219 18,690 4,441 (2,355 ) 49,995 Noninterest income: Service charges on deposit accounts 2,641 2,074 16 (15 ) 4,716 Trust and investment fees: Brokerage advisory, commissions and other fees 1,887 317 9,161 (1,929 ) 9,436 Trust and investment management 910 445 2,893 (932 ) 3,316 Investment banking (35 ) 1,783 9 — 1,757 Total trust and investment fees 2,762 2,545 12,063 (2,861 ) 14,509 Card fees 3,543 362 6 (4 ) 3,907 Other fees: Lending related charges and fees (1)(2) 278 1,247 7 (6 ) 1,526 Cash network fees 478 3 — — 481 Commercial real estate brokerage commissions — 468 — — 468 Wire transfer and other remittance fees 264 209 8 (4 ) 477 All other fees (1) 339 92 2 (1 ) 432 Total other fees 1,359 2,019 17 (11 ) 3,384 Mortgage banking (1) 2,659 362 (11 ) 7 3,017 Insurance (1) 83 312 82 (48 ) 429 Net gains (losses) from trading activities (1) 28 516 57 1 602 Net gains (losses) on debt securities (1) (3 ) 102 9 — 108 Net gains (losses) from equity securities (1) 1,505 293 (283 ) — 1,515 Lease income (1) — 1,753 — — 1,753 Other income of the segment (1) 3,117 (322 ) (21 ) (301 ) 2,473 Total noninterest income 17,694 10,016 11,935 (3,232 ) 36,413 Revenue $ 46,913 28,706 16,376 (5,587 ) 86,408 (continued on following page) (continued from previous page) Year ended December 31, 2017 Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated Net interest income (1) $ 28,658 18,810 4,641 (2,552 ) 49,557 Noninterest income: Service charges on deposit accounts 2,909 2,201 17 (16 ) 5,111 Trust and investment fees: Brokerage advisory, commissions and other fees 1,830 304 9,072 (1,848 ) 9,358 Trust and investment management 889 523 2,877 (917 ) 3,372 Investment banking (59 ) 1,827 (2 ) (1 ) 1,765 Total trust and investment fees 2,660 2,654 11,947 (2,766 ) 14,495 Card fees 3,613 345 6 (4 ) 3,960 Other fees: Lending related charges and fees (1)(2) 311 1,257 8 (8 ) 1,568 Cash network fees 498 8 — — 506 Commercial real estate brokerage commissions 1 461 — — 462 Wire transfer and other remittance fees 239 204 9 (4 ) 448 All other fees (1) 448 124 1 — 573 Total other fees 1,497 2,054 18 (12 ) 3,557 Mortgage banking (1) 3,895 458 (10 ) 7 4,350 Insurance (1) 139 872 88 (50 ) 1,049 Net gains (losses) from trading activities (1) (251 ) 701 92 — 542 Net gains (losses) on debt securities (1) 709 (232 ) 2 — 479 Net gains (losses) from equity securities (1) 1,455 116 208 — 1,779 Lease income (1) — 1,907 — — 1,907 Other income of the segment (1) 1,734 114 63 (308 ) 1,603 Total noninterest income 18,360 11,190 12,431 (3,149 ) 38,832 Revenue $ 47,018 30,000 17,072 (5,701 ) 88,389 (1) Most of our revenue is not within the scope of Accounting Standards Update (ASU) 2014-09 – Revenue from Contracts with Customers , and additional details are included in other notes to our financial statements. The scope explicitly excludes net interest income as well as many other revenues for financial assets and liabilities, including loans, leases, securities, and derivatives. (2) Represents combined amount of previously reported “Charges and fees on loans” and “Letters of credit fees.” |
Disaggregation of Revenue by Operating Segment | Table 22.3 presents our brokerage advisory, commissions and other fees by operating segment. Table 22.3 : Brokerage Advisory, Commissions and Other Fees by Operating Segment Year ended December 31, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated Company (in millions) 2019 2018 2017 2019 2018 2017 2019 2018 2017 2019 2018 2017 2019 2018 2017 Asset-based revenue (1) $ 1,478 1,482 1,372 — 1 1 6,777 6,899 6,630 (1,480 ) (1,484 ) (1,371 ) 6,775 6,898 6,632 Transactional revenue 383 340 382 26 70 40 1,534 1,618 1,802 (383 ) (380 ) (400 ) 1,560 1,648 1,824 Other revenue 70 65 76 266 246 263 635 644 640 (69 ) (65 ) (77 ) 902 890 902 Brokerage advisory, commissions and other fees $ 1,931 1,887 1,830 292 317 304 8,946 9,161 9,072 (1,932 ) (1,929 ) (1,848 ) 9,237 9,436 9,358 (1) We earned trailing commissions of $1.2 billion for the year ended December 31, 2019 and $1.3 billion for both of the years ended December 31, 2018 and 2017 , respectively. Table 22.5 presents our card fees by operating segment. Table 22.5 : Card Fees by Operating Segment Year ended December 31, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated Company (in millions) 2019 2018 2017 2019 2018 2017 2019 2018 2017 2019 2018 2017 2019 2018 2017 Credit card interchange and network revenues (1) $ 809 792 944 359 361 345 6 6 6 (4 ) (4 ) (4 ) 1,170 1,155 1,291 Debit card interchange and network revenues 2,148 2,053 1,964 — — — — — — — — — 2,148 2,053 1,964 Late fees, cash advance fees, balance transfer fees, and annual fees 698 698 705 — 1 — — — — — — — 698 699 705 Card fees $ 3,655 3,543 3,613 359 362 345 6 6 6 (4 ) (4 ) (4 ) 4,016 3,907 3,960 (1) The cost of credit card rewards and rebates of $1.5 billion , $1.4 billion and $1.2 billion for the years ended December 31, 2019 , 2018 and 2017 , respectively, are presented net against the related revenues. Table 22.4 presents our trust and investment management fees by operating segment. Table 22.4 : Trust and Investment Management Fees by Operating Segment Year ended December 31, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated Company (in millions) 2019 2018 2017 2019 2018 2017 2019 2018 2017 2019 2018 2017 2019 2018 2017 Investment management fees $ — — 1 — — — 1,990 2,087 2,053 — — — 1,990 2,087 2,054 Trust fees 804 908 887 338 329 421 557 728 757 (840 ) (932 ) (916 ) 859 1,033 1,149 Other revenue 1 2 1 148 116 102 40 78 67 — — (1 ) 189 196 169 Trust and investment management fees $ 805 910 889 486 445 523 2,587 2,893 2,877 (840 ) (932 ) (917 ) 3,038 3,316 3,372 Table 22.2 presents our service charges on deposit accounts by operating segment. Table 22.2 : Service Charges on Deposit Accounts by Operating Segment Year ended December 31, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated Company (in millions) 2019 2018 2017 2019 2018 2017 2019 2018 2017 2019 2018 2017 2019 2018 2017 Overdraft fees $ 1,965 1,776 1,941 5 5 6 1 1 1 — — — 1,971 1,782 1,948 Account charges 858 865 968 1,969 2,069 2,195 15 15 16 (15 ) (15 ) (16 ) 2,827 2,934 3,163 Service charges on deposit accounts $ 2,823 2,641 2,909 1,974 2,074 2,201 16 16 17 (15 ) (15 ) (16 ) 4,798 4,716 5,111 |
Employee Benefits and Other E_2
Employee Benefits and Other Expenses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Defined Benefit Plan [Abstract] | |
Changes in Benefit Obligation and Fair Value of Plan Assets | Table 23.1 presents the changes in the benefit obligation and the fair value of plan assets, the funded status, and the amounts recognized on the balance sheet. The increases in the benefit obligation of the qualified plans and nonqualified plans were primarily due to actuarial losses, reflecting a decrease in the discount rates, partially offset by benefits paid. The decrease in the benefit obligation for the other benefit plans was primarily due to benefits paid (net of participant contributions) and net actuarial gains, partially offset by interest cost. Net actuarial gains were primarily due to actual benefit claims being less than projected, partially offset by a decrease in the discount rate. Table 23.1: Changes in Benefit Obligation and Fair Value of Plan Assets December 31, 2019 December 31, 2018 Pension benefits Pension benefits (in millions) Qualified Non- qualified Other benefits Qualified Non- qualified Other benefits Change in benefit obligation: Benefit obligation at beginning of year $ 10,129 557 555 11,110 621 611 Service cost 11 — — 11 — — Interest cost 419 22 23 392 21 21 Plan participants’ contributions — — 44 — — 48 Actuarial loss (gain) 1,229 49 (11 ) (674 ) (27 ) (33 ) Benefits paid (672 ) (57 ) (86 ) (719 ) (57 ) (92 ) Medicare Part D subsidy — — — — — 2 Settlements, Curtailments, and Amendments (2 ) — — 1 — — Other — — — 13 — — Foreign exchange impact 2 1 — (5 ) (1 ) (2 ) Benefit obligation at end of year 11,116 572 525 10,129 557 555 Change in plan assets: Fair value of plan assets at beginning of year 9,477 — 511 10,667 — 565 Actual return on plan assets 1,758 — 64 (478 ) — (17 ) Employer contribution 199 57 7 10 57 5 Plan participants’ contributions — — 44 — — 48 Benefits paid (672 ) (57 ) (86 ) (719 ) (57 ) (92 ) Medicare Part D subsidy — — — — — 2 Settlement (1 ) — — — — — Other — — — 1 — — Foreign exchange impact 2 — — (4 ) — — Fair value of plan assets at end of year 10,763 — 540 9,477 — 511 Funded status at end of year $ (353 ) (572 ) 15 (652 ) (557 ) (44 ) Amounts recognized on the balance sheet at end of year: Assets $ 1 — 44 1 — — Liabilities (354 ) (572 ) (29 ) (653 ) (557 ) (44 ) |
Plans with Benefit Obligations in Excess of Plan Assets | Table 23.2 provides information for pension and post retirement plans with benefit obligations in excess of plan assets. Table 23.2: Plans with Benefit Obligations in Excess of Plan Assets December 31, 2019 December 31, 2018 (in millions) Pension Benefits Other Benefits Pension Benefits Other Benefits Projected benefit obligation $ 11,653 N/A 10,640 N/A Accumulated benefit obligation 11,634 29 10,627 555 Fair value of plan assets 10,727 — 9,429 511 |
Net Periodic Benefit Cost and Other Comprehensive Income | Table 23.3 presents the components of net periodic benefit cost and other comprehensive income (OCI). Table 23.3: Net Periodic Benefit Cost and Other Comprehensive Income December 31, 2019 December 31, 2018 December 31, 2017 Pension benefits Pension benefits Pension benefits (in millions) Qualified Non- qualified Other benefits Qualified Non- qualified Other benefits Qualified Non- qualified Other benefits Service cost $ 11 — — 11 — — 5 — — Interest cost (1) 419 22 23 392 21 21 412 24 28 Expected return on plan assets (1) (567 ) — (28 ) (641 ) — (31 ) (652 ) — (30 ) Amortization of net actuarial loss (gain) (1) 148 10 (17 ) 131 14 (18 ) 148 11 (9 ) Amortization of prior service credit (1) — — (10 ) — — (10 ) — — (10 ) Settlement loss (1) — 2 — 134 2 — 7 6 — Net periodic benefit cost 11 34 (32 ) 27 37 (38 ) (80 ) 41 (21 ) Other changes in plan assets and benefit obligations recognized in other comprehensive income: Net actuarial loss (gain) 38 49 (47 ) 445 (27 ) 15 33 46 (128 ) Amortization of net actuarial gain (loss) (148 ) (10 ) 17 (131 ) (14 ) 18 (148 ) (11 ) 9 Prior service cost — — — 1 — — 1 — — Amortization of prior service credit — — 10 — — 10 — — 10 Settlement — (2 ) — (134 ) (2 ) — (8 ) (6 ) — Total recognized in other comprehensive income (110 ) 37 (20 ) 181 (43 ) 43 (122 ) 29 (109 ) Total recognized in net periodic benefit cost and other comprehensive income $ (99 ) 71 (52 ) 208 (6 ) 5 (202 ) 70 (130 ) (1) Effective January 1, 2018, we adopted ASU 2017-07 – Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost . Accordingly, 2019 and 2018 balances are reported in other noninterest expense on the consolidated statement of income. For 2017 , these balances were reported in employee benefits. |
Benefits Recognized in Cumulative OCI | Table 23.4 provides the amounts recognized in cumulative OCI (pre-tax). Table 23.4: Benefits Recognized in Cumulative OCI December 31, 2019 December 31, 2018 Pension benefits Pension benefits (in millions) Qualified Non- qualified Other benefits Qualified Non- qualified Other benefits Net actuarial loss (gain) $ 3,226 186 (357 ) 3,336 149 (327 ) Net prior service cost (credit) 1 — (146 ) 1 — (156 ) Total $ 3,227 186 (503 ) 3,337 149 (483 ) |
Weighted Average Assumptions for Estimating Projected Benefit Obligation and Determining Net Periodic Benefit Cost | Table 23.5 presents the weighted-average assumptions used to estimate the projected benefit obligation. Table 23.5: Weighted-Average Assumptions Used to Estimate Projected Benefit Obligation December 31, 2019 December 31, 2018 Pension benefits Pension benefits Qualified Non- qualified Other benefits Qualified Non- qualified Other benefits Discount rate 3.21 % 3.03 3.10 4.30 4.20 4.24 Interest crediting rate 2.70 1.35 N/A 3.22 2.18 N/A Table 23.6 presents the weighted-average assumptions used to determine the net periodic benefit cost. Table 23.6: Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost December 31, 2019 December 31, 2018 December 31, 2017 Pension benefits Pension benefits Pension benefits Qualified Non- qualified Other benefits Qualified Non- qualified Other benefits Qualified Non- qualified Other benefits Discount rate (1) 4.30 % 4.10 4.24 3.65 3.65 3.54 3.98 3.93 4.00 Interest crediting rate (1) 3.22 2.05 N/A 2.74 1.68 N/A 2.92 1.85 N/A Expected return on plan assets 6.24 N/A 5.75 6.24 N/A 5.75 6.70 N/A 5.75 (1) Includes the impact of interim re-measurements as applicable. |
Projected Benefit Payments | Future benefits that we expect to pay under the pension and other benefit plans are presented in Table 23.7 . Table 23.7: Projected Benefit Payments Pension benefits (in millions) Qualified Non- qualified Other Benefits Year ended December 31, 2020 $ 826 50 42 2021 811 48 42 2022 797 45 41 2023 738 44 40 2024 720 42 38 2025-2029 3,391 187 167 |
Pension and Other Benefits Plan Assets | Table 23.8 presents the classification of the fair value of the pension plan and other benefit plan assets in the fair value hierarchy. See Note 19 (Fair Values of Assets and Liabilities) for a description of the fair value hierarchy. Table 23.8: Pension and Other Benefit Plan Assets Carrying value at year end Pension plan assets Other benefits plan assets (in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total December 31, 2019 Cash and cash equivalents $ 3 287 — 290 53 145 — 198 Long duration fixed income (1) 821 5,259 — 6,080 — — — — Intermediate (core) fixed income (2) — 167 — 167 — 177 — 177 High-yield fixed income — 217 — 217 — — — — International fixed income 33 97 — 130 — — — — Domestic large-cap stocks (3) 700 290 — 990 — 73 — 73 Domestic mid-cap stocks 210 113 — 323 — 19 — 19 Domestic small-cap stocks 201 9 — 210 — 11 — 11 Global stocks (4) 92 374 — 466 — — — — International stocks (5) 567 120 — 687 12 22 — 34 Emerging market stocks — 249 — 249 — — — — Real estate 141 35 7 183 — — — — Hedge funds/absolute return 68 50 — 118 — — — — Other 57 48 9 114 4 — 24 28 Plan investments - excluding investments at NAV $ 2,893 7,315 16 10,224 69 447 24 540 Investments at NAV (6) 478 — Net receivables 61 — Total plan assets $ 10,763 540 December 31, 2018 Cash and cash equivalents $ 2 284 — 286 69 22 — 91 Long duration fixed income (1) 902 4,414 — 5,316 — — — — Intermediate (core) fixed income (2) — 118 — 118 — 183 — 183 High-yield fixed income — 114 — 114 — — — — International fixed income 55 186 — 241 — — — — Domestic large-cap stocks (3) 582 238 — 820 — 115 — 115 Domestic mid-cap stocks 167 89 — 256 — 28 — 28 Domestic small-cap stocks 141 7 — 148 — 17 — 17 Global stocks (4) 72 357 — 429 — — — — International stocks (5) 449 110 — 559 9 40 — 49 Emerging market stocks — 205 — 205 — — — — Real estate 148 33 14 195 — — — — Hedge funds/absolute return 63 32 — 95 — — — — Other 34 44 8 86 4 — 24 28 Plan investments - excluding investments at NAV $ 2,615 6,231 22 8,868 82 405 24 511 Investments at NAV (6) 566 — Net receivables 43 — Total plan assets $ 9,477 511 (1) This category includes a diversified mix of assets, which are being managed in accordance with a duration target of approximately 10 years and an emphasis on corporate credit bonds combined with investments in U.S. Treasury securities and other U.S. agency and non-agency bonds. (2) This category includes assets that are intermediate duration, investment grade bonds held in investment strategies benchmarked to the Bloomberg Barclays Capital U.S. Aggregate Bond Index, including U.S. Treasury securities, agency and non-agency asset-backed bonds and corporate bonds. (3) This category covers a broad range of investment styles, including active, enhanced index and passive approaches, as well as style characteristics of value, core and growth emphasized strategies. Assets in this category are currently diversified across eight unique investment strategies with no single investment manager strategy representing more than 2.0% of total plan assets. (4) This category consists of five unique investment strategies providing exposure to broadly diversified, global equity investments, which generally have an allocation of 40 - 60% in U.S. domiciled equities and an equivalent allocation range in non-U.S. equities, with no single strategy representing more than 1.5% of total Plan assets. (5) This category includes assets diversified across four unique investment strategies providing exposure to companies in developed market, non-U.S. countries with no single strategy representing more than 2.5% of total plan assets. (6) Consists of certain 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 Level 3 Pension and Other Benefit Plan Assets | Table 23.9 presents the changes in Level 3 pension plan and other benefit plan assets measured at fair value. Table 23.9: Fair Value Level 3 Pension and Other Benefit Plan Assets Balance beginning of year Gains (losses) Purchases, sales and settlements (net) Transfers Into/ (Out of) Level 3 Balance end of year (in millions) Realized Unrealized (1) Quarter ended December 31, 2019 Pension plan assets: Real estate $ 14 1 1 (9 ) — 7 Other 8 — 2 (1 ) — 9 Total pension plan assets $ 22 1 3 (10 ) — 16 Other benefits plan assets: Other $ 24 — — — — 24 Total other benefit plan assets $ 24 — — — — 24 Quarter ended December 31, 2018 Pension plan assets: Real estate $ 20 (2 ) (1 ) (3 ) — 14 Other 8 — — — — 8 Total pension plan assets $ 28 (2 ) (1 ) (3 ) — 22 Other benefits plan assets: Other $ 23 1 — — — 24 Total other benefit plan assets $ 23 1 — — — 24 (1) All unrealized gains (losses) relate to instruments held at period end. |
Other Expenses | Table 23.10 separately presents other expenses exceeding 1% of the sum of net interest income and total noninterest income in any of the years presented. Table 23.10: Other Expenses Year ended December 31, (in millions) 2019 2018 2017 Operating losses $ 4,321 3,124 5,492 Outside professional services 3,198 3,306 3,813 Contract services (1) 2,489 2,192 1,638 Leases (2) 1,155 1,334 1,351 Advertising and promotion 1,076 857 614 Outside data processing 673 660 891 Other 3,840 4,129 3,789 Total other noninterest expense $ 16,752 15,602 17,588 (1) The amount for 2017 has been revised to conform with the current period presentation whereby temporary help is included in contract services rather than in all other noninterest expense. (2) Represents expenses for assets we lease to customers. |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Tax Expense | Table 24.1 presents the components of income tax expense. Table 24.1: Income Tax Expense Year ended December 31, (in millions) 2019 2018 2017 Current: Federal $ 5,244 2,382 3,507 State and local 2,005 1,140 561 Non-U.S. 154 170 183 Total current 7,403 3,692 4,251 Deferred: Federal (2,374 ) 1,706 156 State and local (863 ) 236 564 Non-U.S. (9 ) 28 (54 ) Total deferred (3,246 ) 1,970 666 Total $ 4,157 5,662 4,917 |
Net Deferred Tax Liability (1) | The tax effects of our temporary differences that gave rise to significant portions of our deferred tax assets and liabilities are presented in Table 24.2 . Table 24.2: Net Deferred Tax Liability (1) Dec 31, Dec 31, (in millions) 2019 2018 Deferred tax assets Allowance for credit losses $ 2,587 2,644 Deferred compensation and employee benefits 2,969 2,893 Accrued expenses 874 815 PCI loans 69 467 Basis difference in debt securities 690 98 Net unrealized losses on debt securities — 1,022 Net operating loss and tax credit carry forwards 363 366 Other 1,207 1,272 Total deferred tax assets 8,759 9,577 Deferred tax assets valuation allowance (306 ) (315 ) Deferred tax liabilities Mortgage servicing rights (3,080 ) (3,475 ) Leasing (4,413 ) (4,271 ) Basis difference in investments (1,626 ) (1,301 ) Mark to market, net (4,146 ) (7,252 ) Intangible assets (511 ) (427 ) Net unrealized gains on debt securities (504 ) — Insurance reserves (561 ) (696 ) Other (890 ) (831 ) Total deferred tax liabilities (15,731 ) (18,253 ) Net deferred tax liability (2) $ (7,278 ) (8,991 ) (1) Prior period amounts have been revised to conform with the current period presentation. (2) The net deferred tax liability is included in accrued expenses and other liabilities. |
Effective Income Tax Expense and Rate | Table 24.3 reconciles the statutory federal income tax expense and rate to the effective income tax expense and rate. Our effective tax rate is calculated by dividing income tax expense by income before income tax expense less the net income from noncontrolling interests. Table 24.3: Effective Income Tax Expense and Rate December 31, 2019 2018 2017 (in millions) Amount Rate Amount Rate Amount Rate Statutory federal income tax expense and rate $ 4,978 21.0 % $ 5,892 21.0 % $ 9,485 35.0 % Change in tax rate resulting from: State and local taxes on income, net of federal income tax benefit 896 3.8 1,076 3.9 926 3.4 Tax-exempt interest (460 ) (2.0 ) (494 ) (1.8 ) (812 ) (3.0 ) Tax credits (1,715 ) (7.2 ) (1,537 ) (5.5 ) (1,419 ) (5.2 ) Non-deductible accruals 653 2.7 236 0.8 1,320 4.9 Tax reform — — 164 0.6 (3,713 ) (13.7 ) Other (195 ) (0.8 ) 325 1.2 (870 ) (3.3 ) Effective income tax expense and rate $ 4,157 17.5 % $ 5,662 20.2 % $ 4,917 18.1 % |
Change in Unrecognized Tax Benefits | Table 24.4 presents the change in unrecognized tax benefits. Table 24.4: Change in Unrecognized Tax Benefits Year ended December 31, (in millions) 2019 2018 Balance at beginning of year $ 5,750 5,167 Additions: For tax positions related to the current year 123 393 For tax positions related to prior years 91 503 Reductions: For tax positions related to prior years (378 ) (262 ) Lapse of statute of limitations (5 ) (7 ) Settlements with tax authorities (123 ) (44 ) Balance at end of year $ 5,458 5,750 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share Calculations | Table 25.1 shows earnings per common share and diluted earnings per common share and reconciles the numerator and denominator of both earnings per common share calculations. See Note 1 (Summary of Significant Accounting Policies) for discussion on share repurchases, and the Consolidated Statement of Changes in Equity and Note 21 (Common Stock and Stock Plans) for information about stock and options activity and terms and conditions of warrants. Table 25.1: Earnings Per Common Share Calculations Year ended December 31, (in millions, except per share amounts) 2019 2018 2017 Wells Fargo net income $ 19,549 22,393 22,183 Less: Preferred stock dividends and other (1) 1,611 1,704 1,629 Wells Fargo net income applicable to common stock (numerator) $ 17,938 20,689 20,554 Earnings per common share Average common shares outstanding (denominator) 4,393.1 4,799.7 4,964.6 Per share $ 4.08 4.31 4.14 Diluted earnings per common share Average common shares outstanding 4,393.1 4,799.7 4,964.6 Add: Stock options (2) 0.8 8.0 17.1 Restricted share rights (2) 31.5 26.3 24.7 Warrants (2) — 4.4 10.9 Diluted average common shares outstanding (denominator) 4,425.4 4,838.4 5,017.3 Per share $ 4.05 4.28 4.10 (1) The years ended December 31, 2019 and December 31, 2018 , includes $220 million and $155 million , respectively, as a result of eliminating the discount on our Series K and Series J Preferred Stock. The Series K Preferred Stock was partially redeemed on September 16, 2019, and the Series J Preferred stock was redeemed on September 17, 2018. (2) Calculated using the treasury stock method. |
Outstanding Anti-Dilutive Securities | Table 25.2 presents the outstanding Convertible Preferred Stock, Series L, and options to purchase shares of common stock that were anti-dilutive and therefore not included in the calculation of diluted earnings per common share. Table 25.2: Outstanding Anti-Dilutive Securities Weighted-average shares Year ended December 31, (in millions) 2019 2018 2017 Convertible Preferred Stock, Series L (1) 25.3 25.3 25.3 Stock options (2) — 0.3 1.9 (1) Calculated using the if-converted method. (2) Calculated using the treasury stock method. |
Dividends Declared per common share | Table 25.3 presents dividends declared per common share. Table 25.3: Dividends Declared Per Common Share Year ended December 31, 2019 2018 2017 Per common share $ 1.92 1.64 1.54 |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Cumulative Other Comprehensive Income Balances [Abstract] [Abstract] | |
Summary of Other Comprehensive Income | Table 26.1 provides the components of other comprehensive income (OCI), reclassifications to net income by income statement line item, and the related tax effects. Table 26.1: Summary of Other Comprehensive Income Year ended December 31, 2019 2018 2017 (in millions) Before tax Tax effect Net of tax Before tax Tax effect Net of tax Before tax Tax effect Net of tax Debt securities (1): Net unrealized gains (losses) arising during the period $ 5,439 (1,337 ) 4,102 (4,493 ) 1,100 (3,393 ) 2,719 (1,056 ) 1,663 Reclassification of net (gains) losses to net income: Interest income on debt securities (2) 263 (65 ) 198 357 (88 ) 269 198 (75 ) 123 Net gains on debt securities (140 ) 34 (106 ) (108 ) 27 (81 ) (479 ) 181 (298 ) Net gains from equity securities (3) — — — — — — (456 ) 172 (284 ) Other noninterest income (1 ) — (1 ) (1 ) — (1 ) — — — Subtotal reclassifications to net income 122 (31 ) 91 248 (61 ) 187 (737 ) 278 (459 ) Net change 5,561 (1,368 ) 4,193 (4,245 ) 1,039 (3,206 ) 1,982 (778 ) 1,204 Derivatives and hedging activities: Fair Value Hedges: Change in fair value of excluded components on fair value hedges (4) (3 ) 1 (2 ) (254 ) 63 (191 ) (253 ) 95 (158 ) Cash Flow Hedges: Net unrealized losses arising during the period on cash flow hedges (21 ) 5 (16 ) (278 ) 67 (211 ) (287 ) 108 (179 ) Reclassification of net (gains) losses to net income: Interest income on loans 291 (72 ) 219 292 (72 ) 220 (551 ) 208 (343 ) Interest expense on long-term debt 8 (2 ) 6 2 — 2 8 (3 ) 5 Subtotal reclassifications to net income 299 (74 ) 225 294 (72 ) 222 (543 ) 205 (338 ) Net change 275 (68 ) 207 (238 ) 58 (180 ) (1,083 ) 408 (675 ) Defined benefit plans adjustments: Net actuarial and prior service gains (losses) arising during the period (40 ) 10 (30 ) (434 ) 106 (328 ) 49 (12 ) 37 Reclassification of amounts to noninterest expense and employee benefits (5): Amortization of net actuarial loss 141 (35 ) 106 127 (31 ) 96 150 (57 ) 93 Settlements and other (8 ) 5 (3 ) 126 (29 ) 97 3 2 5 Subtotal reclassifications to noninterest expense and employee benefits 133 (30 ) 103 253 (60 ) 193 153 (55 ) 98 Net change 93 (20 ) 73 (181 ) 46 (135 ) 202 (67 ) 135 Foreign currency translation adjustments: Net unrealized gains (losses) arising during the period 73 (2 ) 71 (156 ) 1 (155 ) 96 3 99 Net change 73 (2 ) 71 (156 ) 1 (155 ) 96 3 99 Other comprehensive income (loss) $ 6,002 (1,458 ) 4,544 (4,820 ) 1,144 (3,676 ) 1,197 (434 ) 763 Less: Other comprehensive loss from noncontrolling interests, net of tax — (2 ) (62 ) Wells Fargo other comprehensive income (loss), net of tax $ 4,544 (3,674 ) 825 (1) The year ended December 31, 2017, includes net unrealized gains (losses) arising during the period from equity securities of $81 million and reclassification of net (gains) losses to net income related to equity securities of $(456) million . In connection with our adoption in first quarter 2018 of ASU 2016-01 – Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities , the years ended December 31, 2018, and December 31, 2019, reflect net unrealized gains (losses) arising during the period and reclassification of net (gains) losses to net income from only debt securities. (2) 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. (3) Net gains from equity securities is presented for table presentation purposes. After our adoption of ASU 2016-01 – Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities on January 1, 2018, this line will not contain balances as realized and unrealized gains and losses on marketable equity investments will be recorded in earnings. (4) Represents changes in fair value of cross-currency swaps attributable to changes in cross-currency basis spreads, which are excluded from the assessment of hedge effectiveness and recorded in other comprehensive income. (5) Effective January 1, 2018, we adopted ASU 2017-07 – Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost . Accordingly, 2018 and 2019 balances are reclassified to other noninterest expense on the consolidated statement of income. For 2017 these balances were reclassified to employee benefits. |
Cumulative OCI Balances | Table 26.2 provides the cumulative OCI balance activity on an after-tax basis. Table 26.2: Cumulative OCI Balances (in millions) Debt securities (1) Fair value hedges (2) Cash flow hedges (3) Defined benefit plans adjustments Foreign currency translation adjustments Cumulative other comprehensive income (loss) Balance, December 31, 2016 $ (1,099 ) — 89 (1,943 ) (184 ) (3,137 ) Transition adjustment (4) — 169 (1 ) — — 168 Balance, January 1, 2017 (1,099 ) 169 88 (1,943 ) (184 ) (2,969 ) Net unrealized gains (losses) arising during the period 1,663 (158 ) (179 ) 37 99 1,462 Amounts reclassified from accumulated other comprehensive income (459 ) — (338 ) 98 — (699 ) Net change 1,204 (158 ) (517 ) 135 99 763 Less: Other comprehensive income (loss) from noncontrolling interests (66 ) — — — 4 (62 ) Balance, December 31, 2017 171 11 (429 ) (1,808 ) (89 ) (2,144 ) Transition adjustment (5) (118 ) — — — — (118 ) Balance, January 1, 2018 53 11 (429 ) (1,808 ) (89 ) (2,262 ) Reclassification of certain tax effects to retained earnings (6) 31 2 (89 ) (353 ) 9 (400 ) Net unrealized losses arising during the period (3,393 ) (191 ) (211 ) (328 ) (155 ) (4,278 ) Amounts reclassified from accumulated other comprehensive income 187 — 222 193 — 602 Net change (3,175 ) (189 ) (78 ) (488 ) (146 ) (4,076 ) Less: Other comprehensive loss from noncontrolling interests — — — — (2 ) (2 ) Balance, December 31, 2018 (3,122 ) (178 ) (507 ) (2,296 ) (233 ) (6,336 ) Transition adjustment (7) 481 — — — — 481 Balance, January 1, 2019 (2,641 ) (178 ) (507 ) (2,296 ) (233 ) (5,855 ) Net unrealized gains (losses) arising during the period 4,102 (2 ) (16 ) (30 ) 71 4,125 Amounts reclassified from accumulated other comprehensive income 91 — 225 103 — 419 Net change 4,193 (2 ) 209 73 71 4,544 Less: Other comprehensive income (loss) from noncontrolling interests — — — — — — Balance, December 31, 2019 $ 1,552 (180 ) (298 ) (2,223 ) (162 ) (1,311 ) (1) The year ended December 31, 2017, includes net unrealized gains (losses) arising during the period from equity securities of $81 million and reclassification of net (gains) losses to net income related to equity securities of $(456) million . In connection with our adoption in first quarter 2018 of ASU 2016-01 – Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities , the years ended December 31, 2018, and December 31, 2019, reflect net unrealized gains (losses) arising during the period and reclassification of net (gains) losses to net income from only debt securities. (2) Substantially all of the amounts for fair value hedges are foreign exchange contracts. (3) Substantially all of the amounts for cash flow hedges are foreign exchange contracts for the year-ended December 31, 2019, and interest rate contracts for the years ended December 31, 2018 and 2017. (4) Transition adjustment relates to our adoption of ASU 2017-12 – Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . (5) The transition adjustment relates to our adoption of ASU 2016-01 – Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . (6) Represents the reclassification from other comprehensive income to retained earnings as a result of our adoption of ASU 2018-02 – Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income in third quarter 2018. (7) The transition adjustment relates to our adoption of ASU 2017-08 – Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities . See Note 1 (Summary of Significant Accounting Policies) for more information. |
Operating Segments (Tables)
Operating Segments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Segment Reporting [Abstract] | |
Operating Segments | Table 27.1 presents our results by operating segment. Table 27.1: Operating Segments (income/expense in millions, average balances in billions) Community Banking Wholesale Banking Wealth and Investment Management Other (1) Consolidated Company 2019 Net interest income (2) $ 27,610 17,699 4,037 (2,115 ) 47,231 Provision (reversal of provision) for credit losses 2,319 378 5 (15 ) 2,687 Noninterest income 17,706 9,978 13,304 (3,156 ) 37,832 Noninterest expense 32,696 15,352 13,709 (3,579 ) 58,178 Income (loss) before income tax expense (benefit) 10,301 11,947 3,627 (1,677 ) 24,198 Income tax expense (benefit) (3) 2,426 1,246 904 (419 ) 4,157 Net income (loss) before noncontrolling interests 7,875 10,701 2,723 (1,258 ) 20,041 Less: Net income (loss) from noncontrolling interests 477 5 10 — 492 Net income (loss) $ 7,398 10,696 2,713 (1,258 ) 19,549 2018 Net interest income (2) $ 29,219 18,690 4,441 (2,355 ) 49,995 Provision (reversal of provision) for credit losses 1,783 (58 ) (5 ) 24 1,744 Noninterest income 17,694 10,016 11,935 (3,232 ) 36,413 Noninterest expense 30,491 16,157 12,938 (3,460 ) 56,126 Income (loss) before income tax expense (benefit) 14,639 12,607 3,443 (2,151 ) 28,538 Income tax expense (benefit) (3) 3,784 1,555 861 (538 ) 5,662 Net income (loss) before noncontrolling interests 10,855 11,052 2,582 (1,613 ) 22,876 Less: Net income (loss) from noncontrolling interests 461 20 2 — 483 Net income (loss) $ 10,394 11,032 2,580 (1,613 ) 22,393 2017 Net interest income (2) $ 28,658 18,810 4,641 (2,552 ) 49,557 Provision (reversal of provision) for credit losses 2,555 (19 ) (5 ) (3 ) 2,528 Noninterest income 18,360 11,190 12,431 (3,149 ) 38,832 Noninterest expense 32,615 16,624 12,623 (3,378 ) 58,484 Income (loss) before income tax expense (benefit) 11,848 13,395 4,454 (2,320 ) 27,377 Income tax expense (benefit) (3) 634 3,496 1,668 (881 ) 4,917 Net income (loss) before noncontrolling interests 11,214 9,899 2,786 (1,439 ) 22,460 Less: Net income (loss) from noncontrolling interests 276 (15 ) 16 — 277 Net income (loss) $ 10,938 9,914 2,770 (1,439 ) 22,183 2019 Average loans $ 459.4 475.3 75.6 (59.3 ) 951.0 Average assets 1,028.4 861.0 84.3 (60.3 ) 1,913.4 Average deposits 782.0 422.5 146.0 (64.2 ) 1,286.3 2018 Average loans 463.7 465.7 74.6 (58.8 ) 945.2 Average assets 1,034.1 830.5 83.9 (59.6 ) 1,888.9 Average deposits 757.2 423.7 165.0 (70.0 ) 1,275.9 (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 WIM 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 as well as interest credits for any funding of a segment available to be provided to other segments. The cost of liabilities includes actual interest expense on segment liabilities as well as funding charges for any funding provided from other segments. (3) Income tax expense (benefit) for our Wholesale Banking operating segment included income tax credits related to low-income housing and renewable energy investments of $1.8 billion , $1.6 billion and $1.4 billion |
Parent-Only Financial Stateme_2
Parent-Only Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Condensed Financial Information Disclosure [Abstract] | |
Parent-Only Statement of Income | The following tables present Parent-only condensed financial statements. Table 28.1: Parent-Only Statement of Income Year ended December 31, (in millions) 2019 2018 2017 Income Dividends from subsidiaries (1) $ 21,930 22,427 20,746 Interest income from subsidiaries 3,356 3,298 1,984 Other interest income 43 49 146 Other income (162 ) (424 ) 1,238 Total income 25,167 25,350 24,114 Expense Interest expense: Indebtedness to nonbank subsidiaries 664 644 189 Short-term borrowings — 2 — Long-term debt 4,931 4,541 3,595 Other 2 3 5 Noninterest expense 1,327 286 1,888 Total expense 6,924 5,476 5,677 Income before income tax benefit and equity in undistributed income of subsidiaries 18,243 19,874 18,437 Income tax benefit (945 ) (544 ) (319 ) Equity in undistributed income of subsidiaries 361 1,975 3,427 Net income $ 19,549 22,393 22,183 (1) Includes dividends paid from indirect bank subsidiaries of $21.8 billion , $20.8 billion and $17.9 billion in 2019 , 2018 and 2017 , respectively. |
Parent-Only Statement of Comprehensive Income | Table 28.2: Parent-Only Statement of Comprehensive Income Year ended December 31, (in millions) 2019 2018 2017 Net income $ 19,549 22,393 22,183 Other comprehensive income (loss), net of tax: Debt securities (1) (45 ) (12 ) 94 Derivatives and hedging activities (12 ) (198 ) (158 ) Defined benefit plans adjustment 75 (132 ) 118 Equity in other comprehensive income (loss) of subsidiaries 4,526 (3,332 ) 771 Other comprehensive income (loss), net of tax: 4,544 (3,674 ) 825 Total comprehensive income $ 24,093 18,719 23,008 (1) The year ended December 31, 2017 includes net unrealized gains arising during the period from equity securities of $3 million and reclassification of net (gains) to net income related to equity securities of $(21) million . In connection with our adoption in first quarter 2018 of ASU 2016-01 – Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities , the years ended December 31, 2019 and 2018 , reflect net unrealized gains (losses) arising during the period and reclassification of net (gains) losses to net income from only debt securities. |
Parent-Only Balance Sheet | Table 28.3: Parent-Only Balance Sheet Dec 31, Dec 31, (in millions) 2019 2018 Assets Cash, cash equivalents, and restricted cash due from: Subsidiary banks $ 14,948 16,301 Nonaffiliates 1 — Debt securities: Available-for-sale, at fair value 1 1 Loans to nonbank subsidiaries 145,383 139,163 Investments in subsidiaries (1) 208,076 202,695 Equity securities 1,007 2,164 Other assets 4,608 4,639 Total assets $ 374,024 364,963 Liabilities and equity Accrued expenses and other liabilities $ 8,050 6,986 Long-term debt 152,628 135,079 Indebtedness to nonbank subsidiaries 26,200 26,732 Total liabilities 186,878 168,797 Stockholders’ equity 187,146 196,166 Total liabilities and equity $ 374,024 364,963 (1) The years ended December 31, 2019 , and December 31, 2018 , include indirect ownership of bank subsidiaries with equity of $170.4 billion and $167.6 billion , respectively. |
Parent-Only Statement of Cash Flows | Table 28.4: Parent-Only Statement of Cash Flows Year ended December 31, (in millions) 2019 2018 2017 Cash flows from operating activities: Net cash provided by operating activities $ 27,601 19,024 22,233 Cash flows from investing activities: Available-for-sale debt securities: Proceeds from sales: Subsidiary banks — — 8,658 Nonaffiliates — — 8,824 Prepayments and maturities: Subsidiary banks — — 10,250 Purchases: Subsidiary banks — — (3,900 ) Equity securities, not held for trading: Proceeds from sales and capital returns 326 355 743 Purchases (1,052 ) (220 ) (215 ) Loans: Net advances to subsidiaries (3 ) (7 ) (35,876 ) Capital notes and term loans made to subsidiaries (5,286 ) (2,441 ) (73,729 ) Principal collected on notes/loans made to subsidiaries 1,703 756 69,286 Net decrease (increase) in investment in subsidiaries (384 ) 2,407 (2,029 ) Other, net 22 109 113 Net cash provided (used) by investing activities (4,674 ) 959 (17,875 ) Cash flows from financing activities: Net increase (decrease) in short-term borrowings and indebtedness to subsidiaries (636 ) 12,467 (8,685 ) Long-term debt: Proceeds from issuance 20,369 1,876 22,217 Repayment (8,143 ) (9,162 ) (13,709 ) Preferred stock: Proceeds from issuance — — 677 Redeemed (1,550 ) (2,150 ) — Cash dividends paid (1,391 ) (1,622 ) (1,629 ) Common stock: Proceeds from issuance 380 632 1,211 Stock tendered for payment of withholding taxes (302 ) (331 ) (393 ) Repurchased (24,533 ) (20,633 ) (9,908 ) Cash dividends paid (8,198 ) (7,692 ) (7,480 ) Other, net (275 ) (248 ) (138 ) Net cash used by financing activities (24,279 ) (26,863 ) (17,837 ) Net change in cash, cash equivalents, and restricted cash (1,352 ) (6,880 ) (13,479 ) Cash, cash equivalents, and restricted cash at beginning of year 16,301 23,181 36,660 Cash, cash equivalents, and restricted cash at end of year $ 14,949 16,301 23,181 |
Regulatory and Agency Capital_2
Regulatory and Agency Capital Requirements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Banking and Thrift [Abstract] | |
Regulatory Capital Information | Table 29.1 presents regulatory capital information for Wells Fargo & Company and the Bank in accordance with the Basel III capital requirements. We must report the lower of our Common Equity Tier 1 (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 Standardized Approach applies assigned risk weights to broad risk categories, while the calculation of risk-weighted assets (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 capital requirements for calculating CET1 and tier 1 capital, along with RWAs, are fully phased-in. However, the requirements for determining tier 2 and total capital are still in accordance with Transition Requirements and are scheduled to be fully phased-in by the end of 2021. Accordingly, the information presented below reflects fully phased-in CET1 capital, tier 1 capital, and RWAs, but reflects total capital still in accordance with Transition Requirements. At December 31, 2019, the Bank and our other insured depository institutions were considered well-capitalized under the requirements of the Federal Deposit Insurance Act. 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 December 31, 2019 , the Bank met these requirements. Table 29.1: Regulatory Capital Information Wells Fargo & Company Wells Fargo Bank, N.A. December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 (in millions, except ratios) Advanced Approach Standardized Approach Advanced Approach Standardized Advanced Approach Standardized Advanced Approach Standardized Regulatory capital: Common equity tier 1 $ 138,760 138,760 146,363 146,363 145,149 145,149 142,685 142,685 Tier 1 158,949 158,949 167,866 167,866 145,149 145,149 142,685 142,685 Total 188,333 196,223 198,798 207,041 158,615 166,056 155,558 163,380 Assets: Risk-weighted assets 1,230,066 1,245,853 1,177,350 1,247,210 1,110,379 1,152,791 1,058,653 1,154,182 Adjusted average assets (1) 1,913,297 1,913,297 1,850,299 1,850,299 1,695,807 1,695,807 1,652,009 1,652,009 Regulatory capital ratios: Common equity tier 1 capital 11.28 % 11.14 * 12.43 11.74 * 13.07 12.59 * 13.48 12.36 * Tier 1 capital 12.92 12.76 * 14.26 13.46 * 13.07 12.59 * 13.48 12.36 * Total capital 15.31 * 15.75 16.89 16.60 * 14.28 * 14.40 14.69 14.16 * Tier 1 leverage (1) 8.31 8.31 9.07 9.07 8.56 8.56 8.64 8.64 Wells Fargo & Company Wells Fargo Bank, N.A. December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 Supplementary leverage: (2) Total leverage exposure $ 2,247,729 2,174,564 2,006,180 1,957,276 Supplementary leverage ratio 7.07 % 7.72 7.24 7.29 *Denotes the lowest capital ratio as determined under the Advanced and Standardized Approaches. (1) The leverage ratio consists of Tier 1 capital divided by total average assets, excluding goodwill and certain other items. (2) The supplementary leverage ratio (SLR) consists of Tier 1 capital divided by total leverage exposure. Total leverage exposure consists of total average assets, less goodwill and other permitted Tier 1 capital deductions (net of deferred tax liabilities), plus certain off-balance sheet exposures. |
Minimum Required Regulatory Capital Ratios - Transition Requirements | Table 29.2 presents the minimum required regulatory capital ratios under Transition Requirements to which the Company and the Bank were subject as of December 31, 2019 , and December 31, 2018 . Table 29.2: Minimum Required Regulatory Capital Ratios – Transition Requirements (1) Wells Fargo & Company Wells Fargo Bank, N.A. December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 Regulatory capital ratios: Common equity tier 1 capital 9.000 % 7.875 7.000 6.375 Tier 1 capital 10.500 9.375 8.500 7.875 Total capital 12.500 11.375 10.500 9.875 Tier 1 leverage 4.000 4.000 4.000 4.000 Supplementary leverage (2) 5.000 5.000 6.000 6.000 (1) At December 31, 2019 , under transition requirements, the CET1, tier 1 and total capital minimum ratio requirements for Wells Fargo & Company include a capital conservation buffer of 2.500% and a global systemically important bank (G-SIB) surcharge of 2.000% . Only the 2.500% capital conservation buffer applies to the Bank at December 31, 2019 . (2) Wells Fargo & Company is required to maintain a SLR of at least 5.000% (comprised of a 3.000% minimum requirement plus a supplementary leverage buffer of 2.000% ) to avoid restrictions on capital distributions and discretionary bonus payments. The Bank is required to maintain a SLR of at least 6.000% to be considered well-capitalized under applicable regulatory capital adequacy guidelines. |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) - USD ($) shares in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2019 | |
Summary of Significant Accounting Policies [Line Items] | ||||
Operating lease ROU assets (lessee) | $ 4,724 | $ 0 | ||
Lease liabilities | $ 5,297 | |||
Direct financing lease, risk strategy, residual asset | Our allowance for loan losses for financing leases considers both the collectability of the lease payments receivable as well as the estimated residual value of the leased asset. We typically purchase residual value insurance on our financing leases so that our risk of loss at lease termination will be less than 10% of the initial value of the lease. In addition, we have several channels for re-leasing or marketing those assets. | |||
Stock repurchase program, shares repurchased | 204 | 12 | 0 | |
Operating lease ROU assets (lessee) from new or modified leases | $ 904 | |||
Supplemental cash flow information - Noncash activities | ||||
Trading debt securities retained from securitization of MLHFS | 40,650 | $ 37,265 | $ 52,435 | |
Transfers from loans to MLHFS | 6,330 | 5,366 | 5,500 | |
Transfers from available-for-sale debt securities to held-to-maturity debt securities | 13,833 | 16,479 | 50,405 | |
Operating lease ROU assets acquired with operating lease liabilities | $ 5,804 | $ 0 | $ 0 | |
Private Forward Repurchase Transaction [Member] | ||||
Summary of Significant Accounting Policies [Line Items] | ||||
Private forward repurchase contract, shares repurchased (in shares) | 0 | 82 | 89 | |
Private Forward Repurchase Transactions, Unsettled [Member] | ||||
Summary of Significant Accounting Policies [Line Items] | ||||
Private forward repurchase contract, shares repurchased (in shares) | 0 | 0 | 0 | |
Accounting Standards Update 2017-08 [Member] | ||||
Summary of Significant Accounting Policies [Line Items] | ||||
Cumulative effect from change in accounting principle | $ (111) | |||
Accounting Standards Update 2016-02 [Member] | ||||
Summary of Significant Accounting Policies [Line Items] | ||||
Operating lease ROU assets (lessee) | 4,900 | |||
Lease liabilities | 5,600 | |||
Retained earnings [Member] | Accounting Standards Update 2017-08 [Member] | ||||
Summary of Significant Accounting Policies [Line Items] | ||||
Cumulative effect from change in accounting principle | (592) | |||
Retained earnings [Member] | Accounting Standards Update 2016-02 [Member] | ||||
Summary of Significant Accounting Policies [Line Items] | ||||
Cumulative effect from change in accounting principle | $ 100 | |||
Cumulative other comprehensive income [Member] | Accounting Standards Update 2017-08 [Member] | ||||
Summary of Significant Accounting Policies [Line Items] | ||||
Cumulative effect from change in accounting principle | $ 481 |
Business Combinations (Details)
Business Combinations (Details) $ in Millions | Oct. 01, 2019USD ($) | Jul. 01, 2019USD ($) | Dec. 31, 2019USD ($)business | Dec. 31, 2018USD ($)business |
Business Acquisition and Divestitures [Line Items] | ||||
Businesses Acquisition, number completed during period | business | 0 | 0 | ||
Branches Divested | business | 52 | |||
Deposit Divested | $ 2,000 | |||
Pending Acquisition [Member] | ||||
Business Acquisition and Divestitures [Line Items] | ||||
Businesses Acquisition, number completed during period | business | 0 | |||
Institutional Retirement & Trust Business (IRT) [Member] | ||||
Business Acquisition and Divestitures [Line Items] | ||||
Disposal Date | Jul. 1, 2019 | |||
Gain (Loss) on Disposition of Business | $ 1,100 | |||
Maximum Duration Of Contract To Administer Client Assets | 24 months | |||
Amount of client assets transitioned to the buyer | $ 0 | |||
Carrying Amount Of Assets Under Management | 21,000 | |||
Carrying Amount Of Assets Under Administration | $ 915,000 | |||
Eastdil Secured [Member] | ||||
Business Acquisition and Divestitures [Line Items] | ||||
Disposal Date | Oct. 1, 2019 | |||
Gain (Loss) on Disposition of Business | $ 362 |
Cash, Loan and Dividend Restr_3
Cash, Loan and Dividend Restrictions (Details) - USD ($) $ / shares in Units, $ in Millions | Mar. 01, 2020 | Jan. 28, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Cash, Loan and Dividend Restrictions [Line Items] | |||||
Average Cash Reserve Deposit Required And Made Federal Reserve Banks | $ 11,374 | $ 12,428 | |||
Credit And Non-Credit Transactions With All Nonbank Affiliates, Maximum Percent of Bank Capital and Surplus | 20.00% | ||||
Common Stock, Dividends, Per Share, Declared | $ 1.92 | $ 1.64 | $ 1.54 | ||
Reserve balance for non-US central banks [Member] | |||||
Cash, Loan and Dividend Restrictions [Line Items] | |||||
Restricted Cash Equivalents | $ 460 | $ 517 | |||
Segregated for benefit brokerage customers under federal and other brokerage regulations [Member] | |||||
Cash, Loan and Dividend Restrictions [Line Items] | |||||
Restricted Cash Equivalents | 733 | 1,135 | |||
Related to consolidated variable interest entities (VIEs) that can only be used to settle liabilities of VIEs [Member] | |||||
Cash, Loan and Dividend Restrictions [Line Items] | |||||
Restricted Cash Equivalents | 300 | $ 147 | |||
Bank Subsidiaries [Member] | |||||
Cash, Loan and Dividend Restrictions [Line Items] | |||||
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval | 5,400 | ||||
Nonbank Subsidiaries [Member] | |||||
Cash, Loan and Dividend Restrictions [Line Items] | |||||
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval | $ 25,900 | ||||
Subsequent Event [Member] | |||||
Cash, Loan and Dividend Restrictions [Line Items] | |||||
Common Stock, Dividends, Per Share, Declared | $ 0.51 | ||||
Dividends Payable, Date Declared | Jan. 28, 2020 | ||||
Dividends Payable, Date To be Paid | Mar. 1, 2020 | ||||
Credit and non-credit transactions with a single nonbank affiliate, maximum percent of bank capital and surplus [Member] | |||||
Cash, Loan and Dividend Restrictions [Line Items] | |||||
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% |
Trading Assets and Liabilities
Trading Assets and Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Trading Assets and Liabilities [Line Items] | ||
Trading debt securities | $ 79,733 | $ 69,989 |
Trading equity securities | 27,440 | 19,449 |
Derivative asset | 39,326 | 34,560 |
Trading assets | 121,507 | 100,316 |
Gross trading derivative liabilities | 37,930 | 32,047 |
Net amounts in consolidated balance sheet, asset | 14,203 | 10,770 |
Net amounts in consolidated balance sheet, liability | 9,079 | 8,499 |
Total trading liabilities | 25,217 | 27,259 |
Held for trading [Member] | ||
Trading Assets and Liabilities [Line Items] | ||
Derivative asset | 34,825 | 29,216 |
Netting, derivative assets (1) | (21,463) | (19,807) |
Short sales | 17,430 | 19,720 |
Gross trading derivative liabilities | 33,861 | 28,717 |
Netting, derivative liabilities (1) | (26,074) | (21,178) |
Net amounts in consolidated balance sheet, asset | 13,362 | 9,409 |
Net amounts in consolidated balance sheet, liability | 7,787 | 7,539 |
Loans held for sale [Member] | ||
Trading Assets and Liabilities [Line Items] | ||
Loans held for sale | 977 | 2,041 |
Loans held for sale [Member] | Held for trading [Member] | ||
Trading Assets and Liabilities [Line Items] | ||
Loans held for sale | $ 972 | $ 1,469 |
Trading Activities Net Interest
Trading Activities Net Interest Income and Net Gains (Losses) on Trading Activities (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net Interest Income and Net Gains (Losses) on Trading Activities [Line Items] | |||
Debt Securities, interest income | $ 3,130 | $ 2,831 | $ 2,313 |
Equity Securities, interest income | 962 | 992 | 799 |
Loans held for sale, interest income | 79 | 140 | 50 |
Total interest income | 66,083 | 64,647 | 58,909 |
Less: Interest expense | 525 | 587 | 416 |
Net interest Income | 47,231 | 49,995 | 49,557 |
Debt securities, net gain (Losses) | 1,053 | (824) | 125 |
Equity securities, net gains (losses) | 4,795 | (4,240) | 3,394 |
Loans held for sale, net gain (losses) | 12 | (1) | 45 |
Derivatives (2) | (4,867) | 5,667 | (3,022) |
Net gains from trading activities | 993 | 602 | 542 |
Total trading-related net interest and noninterest income | 4,255 | 3,495 | 2,992 |
Held for trading [Member] | |||
Net Interest Income and Net Gains (Losses) on Trading Activities [Line Items] | |||
Equity Securities, interest income | 579 | 587 | 515 |
Loans held for sale, interest income | 78 | 62 | 38 |
Total interest income | 3,787 | 3,480 | 2,866 |
Net interest Income | $ 3,262 | $ 2,893 | $ 2,450 |
AFS and HTM Debt Securities, Ma
AFS and HTM Debt Securities, Major Categories (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Available-for-sale debt securities: | ||
Amortized Cost | $ 260,060 | $ 272,471 |
Gross unrealized gains | 3,786 | 1,659 |
Gross unrealized losses | (387) | (4,218) |
Fair Value | 263,459 | 269,912 |
Held-to-maturity debt securities: | ||
Held-to-maturity securities, amortized cost | 153,933 | 144,788 |
Gross unrealized gains | 2,996 | 146 |
Gross unrealized losses | (69) | (2,819) |
Held-to-maturity, at fair value | 156,860 | 142,115 |
Total AFS amd HTM Debt securities: | ||
Amortized cost | 413,993 | 417,259 |
Gross unrealized gains | 6,782 | 1,805 |
Gross unrealized losses | (456) | (7,037) |
Fair Value | 420,319 | 412,027 |
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ||
Total AFS amd HTM Debt securities: | ||
Amortized cost | 112,100 | 99,000 |
Fair Value | 114,000 | 97,600 |
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | ||
Total AFS amd HTM Debt securities: | ||
Amortized cost | 89,900 | 95,000 |
Fair Value | $ 91,400 | $ 93,000 |
Minimum [Member] | AFS and HTM Debt Securities Concentration Risk [Member] | Stockholders' Equity, Total [Member] | Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ||
Available-for-sale debt securities: | ||
Concentration risk, percentage | 10.00% | 10.00% |
Minimum [Member] | AFS and HTM Debt Securities Concentration Risk [Member] | Stockholders' Equity, Total [Member] | Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | ||
Available-for-sale debt securities: | ||
Concentration risk, percentage | 10.00% | 10.00% |
Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale debt securities: | ||
Amortized Cost | $ 14,948 | $ 13,451 |
Gross unrealized gains | 13 | 3 |
Gross unrealized losses | (1) | (106) |
Fair Value | 14,960 | 13,348 |
Held-to-maturity debt securities: | ||
Held-to-maturity securities, amortized cost | 45,541 | 44,751 |
Gross unrealized gains | 617 | 4 |
Gross unrealized losses | (19) | (415) |
Held-to-maturity, at fair value | 46,139 | 44,340 |
Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale debt securities: | ||
Amortized Cost | 39,381 | 48,994 |
Gross unrealized gains | 992 | 716 |
Gross unrealized losses | (36) | (446) |
Fair Value | 40,337 | 49,264 |
Held-to-maturity debt securities: | ||
Held-to-maturity securities, amortized cost | 13,486 | 6,286 |
Gross unrealized gains | 286 | 30 |
Gross unrealized losses | (13) | (116) |
Held-to-maturity, at fair value | 13,759 | 6,200 |
Securities of U.S. states and political subdivisions [Member] | Nontaxable Preferred Debt Securities [Member] | ||
Available-for-sale debt securities: | ||
Amortized Cost | 5,800 | 6,300 |
Fair Value | 5,800 | 6,300 |
Total mortgage-backed securities [Member] | ||
Available-for-sale debt securities: | ||
Amortized Cost | 165,031 | 162,819 |
Gross unrealized gains | 2,354 | 551 |
Gross unrealized losses | (171) | (3,167) |
Fair Value | 167,214 | 160,203 |
Federal agencies [Member] | ||
Available-for-sale debt securities: | ||
Amortized Cost | 160,318 | 155,974 |
Gross unrealized gains | 2,299 | 369 |
Gross unrealized losses | (164) | (3,140) |
Fair Value | 162,453 | 153,203 |
Held-to-maturity debt securities: | ||
Held-to-maturity securities, amortized cost | 94,869 | 93,685 |
Gross unrealized gains | 2,093 | 112 |
Gross unrealized losses | (37) | (2,288) |
Held-to-maturity, at fair value | 96,925 | 91,509 |
Residential [Member] | ||
Available-for-sale debt securities: | ||
Amortized Cost | 814 | 2,638 |
Gross unrealized gains | 14 | 142 |
Gross unrealized losses | (1) | (5) |
Fair Value | 827 | 2,775 |
Commercial [Member] | ||
Available-for-sale debt securities: | ||
Amortized Cost | 3,899 | 4,207 |
Gross unrealized gains | 41 | 40 |
Gross unrealized losses | (6) | (22) |
Fair Value | 3,934 | 4,225 |
Corporate debt securities [Member] | ||
Available-for-sale debt securities: | ||
Amortized Cost | 6,343 | 6,230 |
Gross unrealized gains | 252 | 131 |
Gross unrealized losses | (32) | (90) |
Fair Value | 6,563 | 6,271 |
Collateralized loan and other debt obligations obligations [Member] | ||
Available-for-sale debt securities: | ||
Amortized Cost | 29,693 | 35,581 |
Gross unrealized gains | 125 | 158 |
Gross unrealized losses | (123) | (396) |
Fair Value | 29,695 | 35,343 |
Other [Member] | ||
Available-for-sale debt securities: | ||
Amortized Cost | 4,664 | 5,396 |
Gross unrealized gains | 50 | 100 |
Gross unrealized losses | (24) | (13) |
Fair Value | 4,690 | 5,483 |
Held-to-maturity debt securities: | ||
Held-to-maturity securities, amortized cost | 37 | 66 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | 0 | 0 |
Held-to-maturity, at fair value | $ 37 | $ 66 |
AFS and HTM Debt Securities, Gr
AFS and HTM Debt Securities, Gross Unrealized Losses and Fair Value (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | $ (98) | $ (598) |
Less than 12 months, Fair value, available-for-sale | 27,690 | 54,683 |
12 months or more, Gross unrealized losses, available-for-sale | (289) | (3,620) |
12 months or more, Fair value, available-for-sale | 33,223 | 128,631 |
Total, Gross unrealized losses, available-for-sale | (387) | (4,218) |
Total Fair Value, available for sale | 60,913 | 183,314 |
Held-to-maturity debt securities: | ||
Less than 12 months, Gross unrealized losses, held-to-maturity | (63) | (12) |
Less than 12 months, Fair value, held-to-maturity | 7,427 | 6,128 |
12 months or more, Gross unrealized losses, held-to-maturity | (6) | (2,807) |
12 months or more, Fair value, held-to-maturity | 88 | 122,816 |
Total, Gross unrealized losses, held-to-maturity | (69) | (2,819) |
Total, Fair value, held-to-maturity | 7,515 | 128,944 |
Total AFS and HTM Debt securities: | ||
Less than 12 months, Gross unrealized losses, investment securities | (161) | (610) |
Less than 12 months, Fair value, investment securities | 35,117 | 60,811 |
12 months or more, Gross unrealized losses, investment securities | (295) | (6,427) |
12 months or more, Fair value, investment securities | 33,311 | 251,447 |
Total, Gross unrealized losses, investment securities | (456) | (7,037) |
Total, Fair value, investment securities | 68,428 | 312,258 |
Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | 0 | (1) |
Less than 12 months, Fair value, available-for-sale | 0 | 498 |
12 months or more, Gross unrealized losses, available-for-sale | (1) | (105) |
12 months or more, Fair value, available-for-sale | 2,423 | 6,204 |
Total, Gross unrealized losses, available-for-sale | (1) | (106) |
Total Fair Value, available for sale | 2,423 | 6,702 |
Held-to-maturity debt securities: | ||
Less than 12 months, Gross unrealized losses, held-to-maturity | (19) | (3) |
Less than 12 months, Fair value, held-to-maturity | 989 | 895 |
12 months or more, Gross unrealized losses, held-to-maturity | 0 | (412) |
12 months or more, Fair value, held-to-maturity | 0 | 41,083 |
Total, Gross unrealized losses, held-to-maturity | (19) | (415) |
Total, Fair value, held-to-maturity | 989 | 41,978 |
Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (10) | (73) |
Less than 12 months, Fair value, available-for-sale | 2,776 | 9,746 |
12 months or more, Gross unrealized losses, available-for-sale | (26) | (373) |
12 months or more, Fair value, available-for-sale | 2,418 | 9,017 |
Total, Gross unrealized losses, available-for-sale | (36) | (446) |
Total Fair Value, available for sale | 5,194 | 18,763 |
Held-to-maturity debt securities: | ||
Less than 12 months, Gross unrealized losses, held-to-maturity | (9) | (4) |
Less than 12 months, Fair value, held-to-maturity | 613 | 598 |
12 months or more, Gross unrealized losses, held-to-maturity | (4) | (112) |
12 months or more, Fair value, held-to-maturity | 57 | 3,992 |
Total, Gross unrealized losses, held-to-maturity | (13) | (116) |
Total, Fair value, held-to-maturity | 670 | 4,590 |
Mortgage-backed securities [Member] | ||
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (54) | (65) |
Less than 12 months, Fair value, available-for-sale | 17,954 | 13,349 |
12 months or more, Gross unrealized losses, available-for-sale | (117) | (3,102) |
12 months or more, Fair value, available-for-sale | 10,885 | 112,400 |
Total, Gross unrealized losses, available-for-sale | (171) | (3,167) |
Total Fair Value, available for sale | 28,839 | 125,749 |
Federal agencies [Member] | ||
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (50) | (42) |
Less than 12 months, Fair value, available-for-sale | 16,807 | 10,979 |
12 months or more, Gross unrealized losses, available-for-sale | (114) | (3,098) |
12 months or more, Fair value, available-for-sale | 10,641 | 112,252 |
Total, Gross unrealized losses, available-for-sale | (164) | (3,140) |
Total Fair Value, available for sale | 27,448 | 123,231 |
Held-to-maturity debt securities: | ||
Less than 12 months, Gross unrealized losses, held-to-maturity | (35) | (5) |
Less than 12 months, Fair value, held-to-maturity | 5,825 | 4,635 |
12 months or more, Gross unrealized losses, held-to-maturity | (2) | (2,283) |
12 months or more, Fair value, held-to-maturity | 31 | 77,741 |
Total, Gross unrealized losses, held-to-maturity | (37) | (2,288) |
Total, Fair value, held-to-maturity | 5,856 | 82,376 |
Residential [Member] | ||
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (1) | (3) |
Less than 12 months, Fair value, available-for-sale | 149 | 398 |
12 months or more, Gross unrealized losses, available-for-sale | 0 | (2) |
12 months or more, Fair value, available-for-sale | 0 | 69 |
Total, Gross unrealized losses, available-for-sale | (1) | (5) |
Total Fair Value, available for sale | 149 | 467 |
Commercial [Member] | ||
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (3) | (20) |
Less than 12 months, Fair value, available-for-sale | 998 | 1,972 |
12 months or more, Gross unrealized losses, available-for-sale | (3) | (2) |
12 months or more, Fair value, available-for-sale | 244 | 79 |
Total, Gross unrealized losses, available-for-sale | (6) | (22) |
Total Fair Value, available for sale | 1,242 | 2,051 |
Corporate debt securities [Member] | ||
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (9) | (64) |
Less than 12 months, Fair value, available-for-sale | 303 | 1,965 |
12 months or more, Gross unrealized losses, available-for-sale | (23) | (26) |
12 months or more, Fair value, available-for-sale | 216 | 298 |
Total, Gross unrealized losses, available-for-sale | (32) | (90) |
Total Fair Value, available for sale | 519 | 2,263 |
Collateralized loan and other debt obligations obligations [Member] | ||
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (13) | (388) |
Less than 12 months, Fair value, available-for-sale | 5,070 | 28,306 |
12 months or more, Gross unrealized losses, available-for-sale | (110) | (8) |
12 months or more, Fair value, available-for-sale | 16,789 | 553 |
Total, Gross unrealized losses, available-for-sale | (123) | (396) |
Total Fair Value, available for sale | 21,859 | 28,859 |
Other [Member] | ||
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (12) | (7) |
Less than 12 months, Fair value, available-for-sale | 1,587 | 819 |
12 months or more, Gross unrealized losses, available-for-sale | (12) | (6) |
12 months or more, Fair value, available-for-sale | 492 | 159 |
Total, Gross unrealized losses, available-for-sale | (24) | (13) |
Total Fair Value, available for sale | $ 2,079 | $ 978 |
AFS and HTM Debt Securities, Un
AFS and HTM Debt Securities, Unrealized Loss Position, by Credit Rating (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Available-for-sale debt securities: | ||
Gross unrealized losses | $ (387) | $ (4,218) |
Fair Value | 263,459 | 269,912 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | (69) | (2,819) |
Fair value | 156,860 | 142,115 |
Total AFS and HTM Debt securities: | ||
Gross unrealized losses | (456) | (7,037) |
Fair Value | 420,319 | 412,027 |
Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (1) | (106) |
Fair Value | 14,960 | 13,348 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | (19) | (415) |
Fair value | 46,139 | 44,340 |
Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (36) | (446) |
Fair Value | 40,337 | 49,264 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | (13) | (116) |
Fair value | 13,759 | 6,200 |
Mortgage-backed securities [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (171) | (3,167) |
Fair Value | 167,214 | 160,203 |
Federal agencies [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (164) | (3,140) |
Fair Value | 162,453 | 153,203 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | (37) | (2,288) |
Fair value | 96,925 | 91,509 |
Residential [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (1) | (5) |
Fair Value | 827 | 2,775 |
Commercial [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (6) | (22) |
Fair Value | 3,934 | 4,225 |
Corporate debt securities [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (32) | (90) |
Fair Value | 6,563 | 6,271 |
Collateralized loan obligations [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (123) | (396) |
Fair Value | 29,695 | 35,343 |
Other [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (24) | (13) |
Fair Value | 4,690 | 5,483 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | 0 | 0 |
Fair value | 37 | 66 |
Unrated Investment Grade Securities [Member] | ||
Total AFS and HTM Debt securities: | ||
Gross unrealized losses | (7) | (20) |
Fair Value | 2,200 | 5,200 |
Investment grade [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (340) | (4,113) |
Fair Value | 59,710 | 181,050 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | (57) | (2,809) |
Fair value | 7,087 | 128,545 |
Total AFS and HTM Debt securities: | ||
Gross unrealized losses | (397) | (6,922) |
Fair Value | 66,797 | 309,595 |
Investment grade [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (1) | (106) |
Fair Value | 2,423 | 6,702 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | (19) | (415) |
Fair value | 989 | 41,978 |
Investment grade [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (32) | (425) |
Fair Value | 5,019 | 18,447 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | (13) | (116) |
Fair value | 670 | 4,590 |
Investment grade [Member] | Mortgage-backed securities [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (168) | (3,162) |
Fair Value | 28,755 | 125,525 |
Investment grade [Member] | Federal agencies [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (164) | (3,140) |
Fair Value | 27,448 | 123,231 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | (25) | (2,278) |
Fair value | 5,428 | 81,977 |
Investment grade [Member] | Residential [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (1) | (2) |
Fair Value | 149 | 295 |
Investment grade [Member] | Commercial [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (3) | (20) |
Fair Value | 1,158 | 1,999 |
Investment grade [Member] | Corporate debt securities [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (3) | (17) |
Fair Value | 155 | 791 |
Investment grade [Member] | Collateralized loan obligations [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (123) | (396) |
Fair Value | 21,859 | 28,859 |
Investment grade [Member] | Other [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (13) | (7) |
Fair Value | 1,499 | 726 |
Non-investment grade [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (47) | (105) |
Fair Value | 1,203 | 2,264 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | (12) | (10) |
Fair value | 428 | 399 |
Total AFS and HTM Debt securities: | ||
Gross unrealized losses | (59) | (115) |
Fair Value | 1,631 | 2,663 |
Non-investment grade [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | 0 | 0 |
Fair Value | 0 | 0 |
Held-to-maturity debt 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 debt securities: | ||
Gross unrealized losses | (4) | (21) |
Fair Value | 175 | 316 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | 0 | 0 |
Fair value | 0 | 0 |
Non-investment grade [Member] | Mortgage-backed securities [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (3) | (5) |
Fair Value | 84 | 224 |
Non-investment grade [Member] | Federal agencies [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | 0 | 0 |
Fair Value | 0 | 0 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | (12) | (10) |
Fair value | 428 | 399 |
Non-investment grade [Member] | Residential [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | 0 | (3) |
Fair Value | 0 | 172 |
Non-investment grade [Member] | Commercial [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (3) | (2) |
Fair Value | 84 | 52 |
Non-investment grade [Member] | Corporate debt securities [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (29) | (73) |
Fair Value | 364 | 1,472 |
Non-investment grade [Member] | Collateralized loan obligations [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | 0 | 0 |
Fair Value | 0 | 0 |
Non-investment grade [Member] | Other [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (11) | (6) |
Fair Value | $ 580 | $ 252 |
AFS and HTM Debt Securities, Co
AFS and HTM Debt Securities, Contractual Maturities (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 263,459 | $ 269,912 |
Weighted average yield contractual maturities, Total, available-for-sale | 3.57% | |
Due within 1 year, Contractual maturities, available-for-sale | $ 13,162 | |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 2.22% | |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 11,003 | |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 3.12% | |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 22,467 | |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 3.39% | |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 216,827 | |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 3.69% | |
Held-to-maturity securities: | ||
Held-to-maturity securities, amortized cost | $ 153,933 | 144,788 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 2.95% | |
Due within 1 year, Contractual maturities, held-to-maturity, cost | $ 1,296 | |
Percentage of weighted average yield, Due In 1 year, held-to-maturity, cost | 1.75% | |
Due in 1-5 years, Contractual maturities, held-to-maturity, cost | $ 42,344 | |
Percentage of weighted average yield, Due In 1-5 years, held-to-maturity, cost | 2.14% | |
Due in 5-10 years, Contractual maturities, held-to-maturity, cost | $ 3,147 | |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 3.68% | |
Due in 10 years or more, Contractual maturities, held-to-maturity, cost | $ 107,146 | |
Percentage of weighted average yield, Due after 10 years, held-to-maturity, cost | 3.27% | |
Held-to-maturity securities, at fair value: | ||
Contractual maturities, Total amount, held-to-maturity, fair value | $ 156,860 | 142,115 |
Due within 1 year, Contractual maturities, held-to-maturity, at fair value | 1,301 | |
Due in 1-5 years, Contractual maturities, held-to-maturity, at fair value | 42,932 | |
Due in 5-10 years, Contractual maturities, held-to-maturity, at fair value | 3,245 | |
Due in 10 years or more, Contractual maturities, held-to-maturity, at fair value | 109,382 | |
Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 14,960 | 13,348 |
Weighted average yield contractual maturities, Total, available-for-sale | 1.96% | |
Due within 1 year, Contractual maturities, available-for-sale | $ 9,980 | |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 1.88% | |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 4,674 | |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 2.12% | |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 46 | |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 1.83% | |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 260 | |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 2.25% | |
Held-to-maturity securities: | ||
Held-to-maturity securities, amortized cost | $ 45,541 | 44,751 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 2.12% | |
Due within 1 year, Contractual maturities, held-to-maturity, cost | $ 1,296 | |
Percentage of weighted average yield, Due In 1 year, held-to-maturity, cost | 1.75% | |
Due in 1-5 years, Contractual maturities, held-to-maturity, cost | $ 42,242 | |
Percentage of weighted average yield, Due In 1-5 years, held-to-maturity, cost | 2.13% | |
Due in 5-10 years, Contractual maturities, held-to-maturity, cost | $ 1,244 | |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 2.00% | |
Due in 10 years or more, Contractual maturities, held-to-maturity, cost | $ 759 | |
Percentage of weighted average yield, Due after 10 years, held-to-maturity, cost | 2.33% | |
Held-to-maturity securities, at fair value: | ||
Contractual maturities, Total amount, held-to-maturity, fair value | $ 46,139 | 44,340 |
Due within 1 year, Contractual maturities, held-to-maturity, at fair value | 1,301 | |
Due in 1-5 years, Contractual maturities, held-to-maturity, at fair value | 42,830 | |
Due in 5-10 years, Contractual maturities, held-to-maturity, at fair value | 1,268 | |
Due in 10 years or more, Contractual maturities, held-to-maturity, at fair value | 740 | |
Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 40,337 | 49,264 |
Weighted average yield contractual maturities, Total, available-for-sale | 4.82% | |
Due within 1 year, Contractual maturities, available-for-sale | $ 2,687 | |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 2.91% | |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 3,208 | |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 3.31% | |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 4,245 | |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 3.21% | |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 30,197 | |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 5.38% | |
Held-to-maturity securities: | ||
Held-to-maturity securities, amortized cost | $ 13,486 | 6,286 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 4.89% | |
Due within 1 year, Contractual maturities, held-to-maturity, cost | $ 0 | |
Percentage of weighted average yield, Due In 1 year, held-to-maturity, cost | 0.00% | |
Due in 1-5 years, Contractual maturities, held-to-maturity, cost | $ 87 | |
Percentage of weighted average yield, Due In 1-5 years, held-to-maturity, cost | 5.95% | |
Due in 5-10 years, Contractual maturities, held-to-maturity, cost | $ 1,866 | |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 4.80% | |
Due in 10 years or more, Contractual maturities, held-to-maturity, cost | $ 11,533 | |
Percentage of weighted average yield, Due after 10 years, held-to-maturity, cost | 4.90% | |
Held-to-maturity securities, at fair value: | ||
Contractual maturities, Total amount, held-to-maturity, fair value | $ 13,759 | 6,200 |
Due within 1 year, Contractual maturities, held-to-maturity, at fair value | 0 | |
Due in 1-5 years, Contractual maturities, held-to-maturity, at fair value | 87 | |
Due in 5-10 years, Contractual maturities, held-to-maturity, at fair value | 1,940 | |
Due in 10 years or more, Contractual maturities, held-to-maturity, at fair value | 11,732 | |
Total mortgage-backed securities [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 167,214 | 160,203 |
Weighted average yield contractual maturities, Total, available-for-sale | 3.43% | |
Due within 1 year, Contractual maturities, available-for-sale | $ 0 | |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 0.00% | |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 183 | |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 3.51% | |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 1,561 | |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 2.62% | |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 165,470 | |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 3.43% | |
Federal agencies [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 162,453 | 153,203 |
Weighted average yield contractual maturities, Total, available-for-sale | 3.43% | |
Due within 1 year, Contractual maturities, available-for-sale | $ 0 | |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 0.00% | |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 152 | |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 3.40% | |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 1,326 | |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 2.52% | |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 160,975 | |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 3.44% | |
Held-to-maturity securities: | ||
Held-to-maturity securities, amortized cost | $ 94,869 | 93,685 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 3.08% | |
Due within 1 year, Contractual maturities, held-to-maturity, cost | $ 0 | |
Percentage of weighted average yield, Due In 1 year, held-to-maturity, cost | 0.00% | |
Due in 1-5 years, Contractual maturities, held-to-maturity, cost | $ 15 | |
Percentage of weighted average yield, Due In 1-5 years, held-to-maturity, cost | 3.10% | |
Due in 5-10 years, Contractual maturities, held-to-maturity, cost | $ 0 | |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 0.00% | |
Due in 10 years or more, Contractual maturities, held-to-maturity, cost | $ 94,854 | |
Percentage of weighted average yield, Due after 10 years, held-to-maturity, cost | 3.08% | |
Held-to-maturity securities, at fair value: | ||
Contractual maturities, Total amount, held-to-maturity, fair value | $ 96,925 | 91,509 |
Due within 1 year, Contractual maturities, held-to-maturity, at fair value | 0 | |
Due in 1-5 years, Contractual maturities, held-to-maturity, at fair value | 15 | |
Due in 5-10 years, Contractual maturities, held-to-maturity, at fair value | 0 | |
Due in 10 years or more, Contractual maturities, held-to-maturity, at fair value | 96,910 | |
Residential [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 827 | 2,775 |
Weighted average yield contractual maturities, Total, available-for-sale | 2.78% | |
Due within 1 year, Contractual maturities, available-for-sale | $ 0 | |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 0.00% | |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 0 | |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 0.00% | |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 0 | |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 0.00% | |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 827 | |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 2.78% | |
Commercial [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 3,934 | 4,225 |
Weighted average yield contractual maturities, Total, available-for-sale | 3.44% | |
Due within 1 year, Contractual maturities, available-for-sale | $ 0 | |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 0.00% | |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 31 | |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 4.03% | |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 235 | |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 3.22% | |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 3,668 | |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 3.45% | |
Corporate debt securities [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 6,563 | 6,271 |
Weighted average yield contractual maturities, Total, available-for-sale | 4.83% | |
Due within 1 year, Contractual maturities, available-for-sale | $ 460 | |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 5.37% | |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 2,251 | |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 4.93% | |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 3,070 | |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 4.64% | |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 782 | |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 4.98% | |
Collateralized loan obligations [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 29,695 | 35,343 |
Weighted average yield contractual maturities, Total, available-for-sale | 3.33% | |
Due within 1 year, Contractual maturities, available-for-sale | $ 0 | |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 0.00% | |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 0 | |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 0.00% | |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 12,137 | |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 3.43% | |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 17,558 | |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 3.27% | |
Other [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 4,690 | 5,483 |
Weighted average yield contractual maturities, Total, available-for-sale | 2.57% | |
Due within 1 year, Contractual maturities, available-for-sale | $ 35 | |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 4.16% | |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 687 | |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 3.15% | |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 1,408 | |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 1.80% | |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 2,560 | |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 2.81% | |
Held-to-maturity securities: | ||
Held-to-maturity securities, amortized cost | $ 37 | 66 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 3.18% | |
Due within 1 year, Contractual maturities, held-to-maturity, cost | $ 0 | |
Percentage of weighted average yield, Due In 1 year, held-to-maturity, cost | 0.00% | |
Due in 1-5 years, Contractual maturities, held-to-maturity, cost | $ 0 | |
Percentage of weighted average yield, Due In 1-5 years, held-to-maturity, cost | 0.00% | |
Due in 5-10 years, Contractual maturities, held-to-maturity, cost | $ 37 | |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 3.18% | |
Due in 10 years or more, Contractual maturities, held-to-maturity, cost | $ 0 | |
Percentage of weighted average yield, Due after 10 years, held-to-maturity, cost | 0.00% | |
Held-to-maturity securities, at fair value: | ||
Contractual maturities, Total amount, held-to-maturity, fair value | $ 37 | $ 66 |
Due within 1 year, Contractual maturities, held-to-maturity, at fair value | 0 | |
Due in 1-5 years, Contractual maturities, held-to-maturity, at fair value | 0 | |
Due in 5-10 years, Contractual maturities, held-to-maturity, at fair value | 37 | |
Due in 10 years or more, Contractual maturities, held-to-maturity, at fair value | $ 0 |
AFS and HTM Debt Securities, Re
AFS and HTM Debt Securities, Realized Gains and Losses (Details) - Debt securities [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Available-For-Sale Debt Securities, Realized Gain (Loss) [Abstract] | |||
Gross realized gains | $ 227 | $ 155 | $ 948 |
Gross realized losses | (24) | (19) | (207) |
OTTI write-downs | (63) | (28) | (262) |
Net realized gains from available-for-sale debt securities | $ 140 | $ 108 | $ 479 |
AFS and HTM Debt Securities, OT
AFS and HTM Debt Securities, OTTI Included in Earnings (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Schedule Of Available-For-Sale Debt Securities [Line Items] | |||
Other-than-temporary Impairment Loss, Debt Securities, Held-to-maturity, before Tax | $ 0 | $ 0 | $ 0 |
Debt securities [Member] | |||
OTTI write-downs included in earnings | |||
Total debt securities (1) | 63 | 28 | 262 |
Securities of U.S. states and political subdivisions [Member] | |||
OTTI write-downs included in earnings | |||
Total debt securities (1) | 33 | 2 | 150 |
Residential [Member] | |||
OTTI write-downs included in earnings | |||
Total debt securities (1) | 0 | 4 | 11 |
Commercial [Member] | |||
OTTI write-downs included in earnings | |||
Total debt securities (1) | 17 | 18 | 80 |
Corporate debt securities [Member] | |||
OTTI write-downs included in earnings | |||
Total debt securities (1) | 13 | 0 | 21 |
Other [Member] | |||
OTTI write-downs included in earnings | |||
Total debt securities (1) | $ 0 | $ 4 | $ 0 |
AFS and HTM Debt Securities, _2
AFS and HTM Debt Securities, OTTI Debt Securities (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Debt securities [Member] | |||
OTTI on debt securities (Abstract) | |||
Total OTTI recorded as part of gross realized losses | $ 63 | $ 28 | $ 262 |
Total changes to OCI for non-credit-related OTTI | 1 | (11) | (57) |
Total OTTI losses recorded on debt securities | 64 | 17 | 205 |
Securities of U.S. states and political subdivisions [Member] | |||
OTTI on debt securities (Abstract) | |||
Total OTTI recorded as part of gross realized losses | 33 | 2 | 150 |
Total changes to OCI for non-credit-related OTTI | (1) | (2) | (5) |
Residential [Member] | |||
OTTI on debt securities (Abstract) | |||
Total OTTI recorded as part of gross realized losses | 0 | 4 | 11 |
Total changes to OCI for non-credit-related OTTI | (1) | 2 | (1) |
Commercial [Member] | |||
OTTI on debt securities (Abstract) | |||
Total OTTI recorded as part of gross realized losses | 17 | 18 | 80 |
Total changes to OCI for non-credit-related OTTI | 2 | (11) | (51) |
Other [Member] | |||
OTTI on debt securities (Abstract) | |||
Total OTTI recorded as part of gross realized losses | 0 | 4 | 0 |
Total changes to OCI for non-credit-related OTTI | 1 | 0 | 0 |
Credit-related OTTI [Member] | Debt securities [Member] | |||
OTTI on debt securities (Abstract) | |||
Total OTTI recorded as part of gross realized losses | 27 | 27 | 119 |
Intent-to-sell OTTI [Member] | Debt securities [Member] | |||
OTTI on debt securities (Abstract) | |||
Total OTTI recorded as part of gross realized losses | $ 36 | $ 1 | $ 143 |
AFS ad HTM Debt Securities, Cre
AFS ad HTM Debt Securities, Credit Loss Component (Details) - Debt securities [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | |||
Credit loss recognized, beginning of year | $ 562 | $ 742 | $ 1,043 |
Additions: | |||
For securities with initial credit impairments | 6 | 1 | 9 |
For securities with previous credit impairments | 21 | 26 | 110 |
Total additions | 27 | 27 | 119 |
Reductions: | |||
For securities sold, matured, or intended/required to be sold | (390) | (204) | (414) |
For recoveries of previous credit impairments | 0 | (3) | (6) |
Total reductions | (390) | (207) | (420) |
Credit loss recognized, end of year | $ 199 | $ 562 | $ 742 |
Loans and Allowance for Credi_3
Loans and Allowance for Credit Losses, Loans Outstanding (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | $ 962,265 | $ 953,110 | $ 956,770 | $ 967,604 | $ 916,559 |
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||||
Deferred income as a percentage of total loans outstanding | 1.00% | 1.00% | |||
PCI [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | $ 568 | $ 5,009 | |||
Total Commercial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 515,719 | 513,405 | 503,388 | 506,536 | 456,583 |
Total Commercial [Member] | Non-U.S. [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 80,152 | 71,465 | 69,920 | 65,284 | 58,117 |
Total Commercial [Member] | PCI [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 0 | 4 | |||
Total Commercial [Member] | Non-PCI [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 515,719 | 513,401 | |||
Commercial and industrial loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 354,125 | 350,199 | 333,125 | 330,840 | 299,892 |
Commercial and industrial loans [Member] | Non-U.S. [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 70,494 | 62,564 | 60,106 | 55,396 | 49,049 |
Commercial and industrial loans [Member] | PCI [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 0 | 4 | |||
Commercial and industrial loans [Member] | Non-PCI [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 354,125 | 350,195 | |||
Commercial real estate mortgage [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 121,824 | 121,014 | 126,599 | 132,491 | 122,160 |
Commercial real estate mortgage [Member] | Non-U.S. [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 7,004 | 6,731 | 8,033 | 8,541 | 8,350 |
Commercial real estate mortgage [Member] | PCI [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 0 | 0 | |||
Commercial real estate mortgage [Member] | Non-PCI [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 121,824 | 121,014 | |||
Commercial real estate construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 19,939 | 22,496 | 24,279 | 23,916 | 22,164 |
Commercial real estate construction [Member] | Non-U.S. [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 1,434 | 1,011 | 655 | 375 | 444 |
Commercial real estate construction [Member] | PCI [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 0 | 0 | |||
Commercial real estate construction [Member] | Non-PCI [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 19,939 | 22,496 | |||
Lease financing [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 19,831 | 19,696 | 19,385 | 19,289 | 12,367 |
Lease financing [Member] | Non-U.S. [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 1,220 | 1,159 | 1,126 | 972 | 274 |
Lease financing [Member] | PCI [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 0 | 0 | |||
Lease financing [Member] | Non-PCI [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 19,831 | 19,696 | |||
Total Consumer [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 446,546 | 439,705 | 453,382 | 461,068 | 459,976 |
Total Consumer [Member] | PCI [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 568 | 5,005 | |||
Total Consumer [Member] | Non-PCI [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 445,978 | 434,700 | |||
Residential mortgage [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 323,356 | $ 319,463 | |||
Financing Receivable Line of Credit Facility [Abstract] | |||||
Financing receivable line of credit facility amount outstanding | 37,900 | ||||
Financing receivable line of credit facility conversion to term loan amount outstanding | $ 9,100 | ||||
Financing receivable line of credit facility conversion to term loan percentage | 24.00% | ||||
Financing receivable line of credit facility amount revolving credit conversion to term loan in next two years | $ 1,600 | ||||
Financing receivable line of credit facility percentage revolving credit conversion to term loan in next two years | 4.00% | ||||
Financing receivable line of credit facility amount revolving credit conversion to term loan in two to four years | $ 11,100 | ||||
Financing receivable line of credit facility percentage revolving credit conversion to term loan in two to four years | 29.00% | ||||
Financing receivable line of credit facility amount revolving credit conversion to term loan after four years | $ 16,100 | ||||
Financing receivable line of credit facility percentage revolving credit conversion to term loan after four years | 43.00% | ||||
Financing receivable line of credit facility remaining borrowing capacity | $ 58,900 | ||||
Residential mortgage [Member] | Draw period [Member] | |||||
Financing Receivable Line of Credit Facility [Abstract] | |||||
Financing receivable line of credit facility periodic payment | 1.50% | ||||
Financing receivable line of credit facility amount outstanding thirty or more days past due | $ 488 | ||||
Financing receivable line of credit facility percentage thirty or more days past due | 2.00% | ||||
Residential mortgage [Member] | Amortizing payment period [Member] | |||||
Financing Receivable Line of Credit Facility [Abstract] | |||||
Financing receivable line of credit facility amount outstanding thirty or more days past due | $ 399 | ||||
Financing receivable line of credit facility percentage thirty or more days past due | 4.00% | ||||
Residential mortgage [Member] | Minimum [Member] | Draw period [Member] | |||||
Financing Receivable Line of Credit Facility [Abstract] | |||||
Financing receivable line of credit facility expiration period | 10 years | ||||
Residential mortgage [Member] | Median [Member] | Draw period [Member] | |||||
Financing Receivable Line of Credit Facility [Abstract] | |||||
Financing receivable line of credit facility expiration period | 15 years | ||||
Residential mortgage [Member] | Maximum [Member] | |||||
Financing Receivable Line of Credit Facility [Abstract] | |||||
Financing receivable line of credit facility revolving credit conversion to term loan period | 30 years | ||||
Residential mortgage [Member] | Maximum [Member] | Draw period [Member] | |||||
Financing Receivable Line of Credit Facility [Abstract] | |||||
Financing receivable line of credit facility expiration period | 20 years | ||||
Residential mortgage [Member] | Geographic concentration risk [Member] | Loans [Member] | Maximum [Member] | California, larger metropolitan areas [Member] | |||||
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||||
Concentration risk, percentage | 5.00% | ||||
Residential mortgage [Member] | Interest-only loans [Member] | Minimum [Member] | Draw period [Member] | |||||
Financing Receivable Line of Credit Facility [Abstract] | |||||
Financing receivable line of credit facility expiration period | 3 years | ||||
Residential mortgage [Member] | Interest-only loans [Member] | Maximum [Member] | Draw period [Member] | |||||
Financing Receivable Line of Credit Facility [Abstract] | |||||
Financing receivable line of credit facility expiration period | 7 years | ||||
Residential mortgage [Member] | Interest-only loans [Member] | Product concentration risk [Member] | Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||||
Concentration risk, percentage | 3.00% | 4.00% | |||
Residential mortgage [Member] | Option payment loans [Member] | Product concentration risk [Member] | Loans [Member] | Maximum [Member] | |||||
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||||
Concentration risk, percentage | 1.00% | ||||
Residential mortgage [Member] | Fully amortizing payment loans [Member] | Minimum [Member] | Draw period [Member] | |||||
Financing Receivable Line of Credit Facility [Abstract] | |||||
Financing receivable line of credit facility expiration period | 5 years | ||||
Residential mortgage [Member] | Fully amortizing payment loans [Member] | Maximum [Member] | Draw period [Member] | |||||
Financing Receivable Line of Credit Facility [Abstract] | |||||
Financing receivable line of credit facility expiration period | 30 years | ||||
Residential mortgage [Member] | PCI [Member] | Geographic concentration risk [Member] | Loans [Member] | California [Member] | |||||
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||||
Concentration risk, percentage | 1.00% | 1.00% | |||
Residential mortgage [Member] | Non-PCI [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | $ 322,788 | $ 314,458 | |||
Residential mortgage [Member] | Non-PCI [Member] | Geographic concentration risk [Member] | Loans [Member] | California [Member] | |||||
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||||
Concentration risk, percentage | 13.00% | 12.00% | |||
Real estate 1-4 family first mortgage [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | $ 293,847 | $ 285,065 | 284,054 | 275,579 | 273,869 |
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 293,292 | 280,077 | |||
Real estate 1-4 family junior lien mortgage [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 29,509 | 34,398 | 39,713 | 46,237 | 53,004 |
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 29,496 | 34,381 | |||
Credit card [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 41,013 | 39,025 | 37,976 | 36,700 | 34,039 |
Credit card [Member] | Non-PCI [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 41,013 | 39,025 | |||
Automobile [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 47,873 | 45,069 | 53,371 | 62,286 | 59,966 |
Automobile [Member] | Non-PCI [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 47,873 | 45,069 | |||
Other revolving credit and installment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | 34,304 | 36,148 | $ 38,268 | $ 40,266 | $ 39,098 |
Other revolving credit and installment [Member] | Non-PCI [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans | $ 34,304 | $ 36,148 | |||
Commercial and industrial loans and leases [Member] | Product concentration risk [Member] | Loans [Member] | Financial institutions except banks industry [Member] | |||||
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||||
Concentration risk, percentage | 12.00% | 11.00% | |||
Commercial and industrial loans and leases [Member] | Product concentration risk [Member] | Loans [Member] | Domestic [Member] | |||||
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||||
Concentration risk, financing receivable amount | $ 0 | $ 0 | |||
Commercial and industrial loans and leases [Member] | Product concentration risk [Member] | Loans [Member] | Minimum [Member] | Domestic [Member] | |||||
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||||
Concentration risk, percentage | 10.00% | 10.00% |
Loans and Allowance for Credi_4
Loans and Allowance for Credit Losses, Significant Activity (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Loans and Allowance for Credit Losses, Significant Activity [Abstract] | ||
Purchases | $ 5,154 | $ 2,081 |
Sales | (2,327) | (2,166) |
Transfers to MLHFS/LHFS | (2,012) | (2,612) |
Total Commercial [Member] | ||
Loans and Allowance for Credit Losses, Significant Activity [Abstract] | ||
Purchases | 2,028 | 2,065 |
Sales | (1,797) | (1,905) |
Transfers to MLHFS/LHFS | (123) | (617) |
Total Consumer [Member] | ||
Loans and Allowance for Credit Losses, Significant Activity [Abstract] | ||
Purchases | 3,126 | 16 |
Sales | (530) | (261) |
Transfers to MLHFS/LHFS | $ (1,889) | $ (1,995) |
Loans and Allowance for Credi_5
Loans and Allowance for Credit Losses, Commitments to Lend (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable, temporary advance arrangements | $ 75,400 | |
Unfunded credit commitments | 585,064 | $ 558,701 |
Total Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unfunded credit commitments | 372,926 | 353,876 |
Commercial and industrial loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unfunded credit commitments | 346,991 | 330,492 |
Commercial real estate mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unfunded credit commitments | 8,206 | 6,984 |
Commercial real estate construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unfunded credit commitments | 17,729 | 16,400 |
Total Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unfunded credit commitments | 212,138 | 204,825 |
Real estate 1-4 family first mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unfunded credit commitments | 34,391 | 29,736 |
Real estate 1-4 family junior lien mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unfunded credit commitments | 36,916 | 37,719 |
Credit card [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unfunded credit commitments | 114,933 | 109,840 |
Other revolving credit and installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unfunded credit commitments | 25,898 | 27,530 |
International [Member] | Total Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Letters of credit outstanding, amount | $ 862 | $ 919 |
Loans and Allowance for Credi_6
Loans and Allowance for Credit Losses, Allowance for Credit Losses (Details) - USD ($) $ in Millions | 12 Months Ended | |||||||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||||||
Allowance for credit losses, beginning balance | $ 10,707 | $ 11,960 | $ 12,540 | $ 12,512 | $ 13,169 | |||||
Provision for credit losses | 2,687 | 1,744 | 2,528 | 3,770 | 2,442 | |||||
Interest income on certain impaired loans | (147) | (166) | (186) | (205) | (198) | |||||
Loan charge-offs | (4,193) | (4,428) | (4,587) | (5,247) | (4,454) | |||||
Loan recoveries | 1,431 | 1,684 | 1,659 | 1,727 | 1,562 | |||||
Net loan charge-offs | (2,762) | (2,744) | (2,928) | (3,520) | (2,892) | |||||
Other | (29) | (87) | 6 | (17) | (9) | |||||
Allowance for credit losses, ending balance | 10,456 | 10,707 | 11,960 | 12,540 | 12,512 | |||||
Components: | ||||||||||
Allowance for loan losses | $ 9,551 | $ 9,775 | ||||||||
Allowance for credit losses | $ 10,456 | $ 10,707 | $ 12,540 | $ 12,512 | $ 12,512 | $ 10,456 | $ 10,707 | $ 11,960 | $ 12,540 | $ 12,512 |
Net loan charge-offs as a percentage of average total loans | 0.29% | 0.29% | 0.31% | 0.37% | 0.33% | |||||
Allowance for loan losses as a percentage of total loans | 0.99% | 1.03% | 1.15% | 1.18% | 1.26% | |||||
Allowance for credit losses as a percentage of total loans | 1.09% | 1.12% | 1.25% | 1.30% | 1.37% | |||||
Allowance for loan losses [Member] | ||||||||||
Components: | ||||||||||
Allowance for loan losses | $ 9,551 | $ 9,775 | $ 11,004 | $ 11,419 | $ 11,545 | |||||
Allowance for unfunded credit commitments [Member] | ||||||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||||||
Allowance for credit losses, beginning balance | $ 932 | $ 956 | $ 1,121 | $ 967 | ||||||
Allowance for credit losses, ending balance | 905 | 932 | 956 | 1,121 | $ 967 | |||||
Components: | ||||||||||
Allowance for credit losses | 932 | 956 | 1,121 | 967 | 967 | 905 | 932 | 956 | $ 1,121 | $ 967 |
Total Commercial [Member] | ||||||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||||||
Allowance for credit losses, beginning balance | 6,417 | 6,632 | ||||||||
Provision for credit losses | 518 | 281 | ||||||||
Interest income on certain impaired loans | (46) | (47) | ||||||||
Loan charge-offs | (911) | (839) | (872) | (1,488) | (811) | |||||
Loan recoveries | 259 | 410 | 426 | 428 | 424 | |||||
Net loan charge-offs | (652) | (429) | ||||||||
Other | 8 | (20) | ||||||||
Allowance for credit losses, ending balance | 6,245 | 6,417 | 6,632 | |||||||
Components: | ||||||||||
Allowance for credit losses | 6,417 | 6,417 | 6,632 | 6,245 | 6,417 | 6,632 | ||||
Commercial and industrial loans [Member] | ||||||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||||||
Loan charge-offs | (802) | (727) | (789) | (1,419) | (734) | |||||
Loan recoveries | 195 | 304 | 297 | 263 | 252 | |||||
Commercial real estate mortgage [Member] | ||||||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||||||
Loan charge-offs | (38) | (42) | (38) | (27) | (59) | |||||
Loan recoveries | 32 | 70 | 82 | 116 | 127 | |||||
Commercial real estate construction [Member] | ||||||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||||||
Loan charge-offs | (1) | 0 | 0 | (1) | (4) | |||||
Loan recoveries | 13 | 13 | 30 | 38 | 37 | |||||
Lease financing [Member] | ||||||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||||||
Loan charge-offs | (70) | (70) | (45) | (41) | (14) | |||||
Loan recoveries | 19 | 23 | 17 | 11 | 8 | |||||
Total Consumer [Member] | ||||||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||||||
Allowance for credit losses, beginning balance | 4,290 | 5,328 | ||||||||
Provision for credit losses | 2,169 | 1,463 | ||||||||
Interest income on certain impaired loans | (101) | (119) | ||||||||
Loan charge-offs | (3,282) | (3,589) | (3,715) | (3,759) | (3,643) | |||||
Loan recoveries | 1,172 | 1,274 | 1,233 | 1,299 | 1,138 | |||||
Net loan charge-offs | (2,110) | (2,315) | ||||||||
Other | (37) | (67) | ||||||||
Allowance for credit losses, ending balance | 4,211 | 4,290 | 5,328 | |||||||
Components: | ||||||||||
Allowance for credit losses | 4,211 | 5,328 | 5,328 | $ 4,211 | $ 4,290 | $ 5,328 | ||||
Real estate 1-4 family first mortgage [Member] | ||||||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||||||
Loan charge-offs | (129) | (179) | (240) | (452) | (507) | |||||
Loan recoveries | 179 | 267 | 288 | 373 | 245 | |||||
Real estate 1-4 family junior lien mortgage [Member] | ||||||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||||||
Loan charge-offs | (118) | (179) | (279) | (495) | (635) | |||||
Loan recoveries | 184 | 219 | 266 | 266 | 259 | |||||
Credit card [Member] | ||||||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||||||
Loan charge-offs | (1,714) | (1,599) | (1,481) | (1,259) | (1,116) | |||||
Loan recoveries | 344 | 307 | 239 | 207 | 175 | |||||
Automobile [Member] | ||||||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||||||
Loan charge-offs | (647) | (947) | (1,002) | (845) | (742) | |||||
Loan recoveries | 341 | 363 | 319 | 325 | 325 | |||||
Other revolving credit and installment [Member] | ||||||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||||||
Loan charge-offs | (674) | (685) | (713) | (708) | (643) | |||||
Loan recoveries | $ 124 | $ 118 | $ 121 | $ 128 | $ 134 |
Loans and Allowance for Credi_7
Loans and Allowance for Credit Losses, Allowance for Credit Losses by Category (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||||
Allowance for credit losses, beginning balance | $ 10,707 | $ 11,960 | $ 12,540 | $ 12,512 | $ 13,169 |
Provision for credit losses | 2,687 | 1,744 | 2,528 | 3,770 | 2,442 |
Interest income on certain impaired loans | (147) | (166) | (186) | (205) | (198) |
Loan charge-offs | (4,193) | (4,428) | (4,587) | (5,247) | (4,454) |
Loan recoveries | 1,431 | 1,684 | 1,659 | 1,727 | 1,562 |
Net loan charge-offs | (2,762) | (2,744) | (2,928) | (3,520) | (2,892) |
Allowance related to business combinations/other | (29) | (87) | 6 | (17) | (9) |
Allowance for credit losses, ending balance | 10,456 | 10,707 | 11,960 | 12,540 | 12,512 |
Total Commercial [Member] | |||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||||
Allowance for credit losses, beginning balance | 6,417 | 6,632 | |||
Provision for credit losses | 518 | 281 | |||
Interest income on certain impaired loans | (46) | (47) | |||
Loan charge-offs | (911) | (839) | (872) | (1,488) | (811) |
Loan recoveries | 259 | 410 | 426 | 428 | 424 |
Net loan charge-offs | (652) | (429) | |||
Allowance related to business combinations/other | 8 | (20) | |||
Allowance for credit losses, ending balance | 6,245 | 6,417 | 6,632 | ||
Total Consumer [Member] | |||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||||
Allowance for credit losses, beginning balance | 4,290 | 5,328 | |||
Provision for credit losses | 2,169 | 1,463 | |||
Interest income on certain impaired loans | (101) | (119) | |||
Loan charge-offs | (3,282) | (3,589) | (3,715) | (3,759) | (3,643) |
Loan recoveries | 1,172 | 1,274 | 1,233 | $ 1,299 | $ 1,138 |
Net loan charge-offs | (2,110) | (2,315) | |||
Allowance related to business combinations/other | (37) | (67) | |||
Allowance for credit losses, ending balance | $ 4,211 | $ 4,290 | $ 5,328 |
Loans and Allowance for Credi_8
Loans and Allowance for Credit Losses, Loans by Credit Impairment Methodology (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | ||||||
Total allowance for credit losses | $ 10,456 | $ 10,707 | $ 11,960 | $ 12,540 | $ 12,512 | $ 13,169 |
Loans | 962,265 | 953,110 | 956,770 | 967,604 | 916,559 | |
Total Commercial [Member] | ||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | ||||||
Total allowance for credit losses | 6,245 | 6,417 | 6,632 | |||
Loans | 515,719 | 513,405 | 503,388 | 506,536 | 456,583 | |
Total Consumer [Member] | ||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | ||||||
Total allowance for credit losses | 4,211 | 4,290 | 5,328 | |||
Loans | 446,546 | 439,705 | $ 453,382 | $ 461,068 | $ 459,976 | |
Non-PCI [Member] | ||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | ||||||
Allowance for Credit Losses, Collectively evaluated | 9,142 | 9,264 | ||||
Allowance for Credit Losses, Individually evaluated | 1,314 | 1,443 | ||||
Financing Receivable, Collectively evaluated | 948,667 | 931,754 | ||||
Financing Receivable, Individually evaluated | 13,030 | 16,347 | ||||
Non-PCI [Member] | Total Commercial [Member] | ||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | ||||||
Allowance for Credit Losses, Collectively evaluated | 5,778 | 5,903 | ||||
Allowance for Credit Losses, Individually evaluated | 467 | 514 | ||||
Financing Receivable, Collectively evaluated | 512,586 | 510,180 | ||||
Financing Receivable, Individually evaluated | 3,133 | 3,221 | ||||
Loans | 515,719 | 513,401 | ||||
Non-PCI [Member] | Total Consumer [Member] | ||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | ||||||
Allowance for Credit Losses, Collectively evaluated | 3,364 | 3,361 | ||||
Allowance for Credit Losses, Individually evaluated | 847 | 929 | ||||
Financing Receivable, Collectively evaluated | 436,081 | 421,574 | ||||
Financing Receivable, Individually evaluated | 9,897 | 13,126 | ||||
Loans | 445,978 | 434,700 | ||||
PCI [Member] | ||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | ||||||
Total allowance for credit losses | 0 | 0 | ||||
Loans | 568 | 5,009 | ||||
PCI [Member] | Total Commercial [Member] | ||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | ||||||
Total allowance for credit losses | 0 | 0 | ||||
Loans | 0 | 4 | ||||
PCI [Member] | Total Consumer [Member] | ||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | ||||||
Total allowance for credit losses | 0 | 0 | ||||
Loans | $ 568 | $ 5,005 |
Loans and Allowance for Credi_9
Loans and Allowance for Credit Losses, Loans by Credit Quality Indicator, Commercial (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | $ 962,265 | $ 953,110 | $ 956,770 | $ 967,604 | $ 916,559 |
Total Commercial [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | 515,719 | 513,405 | 503,388 | 506,536 | 456,583 |
Commercial and industrial loans [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | 354,125 | 350,199 | 333,125 | 330,840 | 299,892 |
Commercial real estate mortgage [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | 121,824 | 121,014 | 126,599 | 132,491 | 122,160 |
Commercial real estate construction [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | 19,939 | 22,496 | 24,279 | 23,916 | 22,164 |
Lease financing [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | 19,831 | 19,696 | $ 19,385 | $ 19,289 | $ 12,367 |
Non-PCI [Member] | Total Commercial [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | 515,719 | 513,401 | |||
Non-PCI [Member] | Total Commercial [Member] | Pass [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | 495,201 | 492,804 | |||
Non-PCI [Member] | Total Commercial [Member] | Criticized [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | 20,518 | 20,597 | |||
Non-PCI [Member] | Commercial and industrial loans [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | 354,125 | 350,195 | |||
Non-PCI [Member] | Commercial and industrial loans [Member] | Pass [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | 338,740 | 335,412 | |||
Non-PCI [Member] | Commercial and industrial loans [Member] | Criticized [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | 15,385 | 14,783 | |||
Non-PCI [Member] | Commercial real estate mortgage [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | 121,824 | 121,014 | |||
Non-PCI [Member] | Commercial real estate mortgage [Member] | Pass [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | 118,054 | 116,514 | |||
Non-PCI [Member] | Commercial real estate mortgage [Member] | Criticized [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | 3,770 | 4,500 | |||
Non-PCI [Member] | Commercial real estate construction [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | 19,939 | 22,496 | |||
Non-PCI [Member] | Commercial real estate construction [Member] | Pass [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | 19,752 | 22,207 | |||
Non-PCI [Member] | Commercial real estate construction [Member] | Criticized [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | 187 | 289 | |||
Non-PCI [Member] | Lease financing [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | 19,831 | 19,696 | |||
Non-PCI [Member] | Lease financing [Member] | Pass [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | 18,655 | 18,671 | |||
Non-PCI [Member] | Lease financing [Member] | Criticized [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | 1,176 | 1,025 | |||
PCI [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | 568 | 5,009 | |||
PCI [Member] | Total Commercial [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | 0 | 4 | |||
PCI [Member] | Commercial and industrial loans [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | 0 | 4 | |||
PCI [Member] | Commercial real estate mortgage [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | 0 | 0 | |||
PCI [Member] | Commercial real estate construction [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | 0 | 0 | |||
PCI [Member] | Lease financing [Member] | |||||
Loans and Leases Receivable Disclosure [Abstract] | |||||
Loans | $ 0 | $ 0 |
Loans and Allowance for Cred_10
Loans and Allowance for Credit Losses, Loans by Delinquency Status, Commercial (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
By delinquency status: | |||||
Loans | $ 962,265 | $ 953,110 | $ 956,770 | $ 967,604 | $ 916,559 |
Total Commercial [Member] | |||||
By delinquency status: | |||||
Loans | 515,719 | 513,405 | 503,388 | 506,536 | 456,583 |
Commercial and industrial loans [Member] | |||||
By delinquency status: | |||||
Loans | 354,125 | 350,199 | 333,125 | 330,840 | 299,892 |
Commercial real estate mortgage [Member] | |||||
By delinquency status: | |||||
Loans | 121,824 | 121,014 | 126,599 | 132,491 | 122,160 |
Commercial real estate construction [Member] | |||||
By delinquency status: | |||||
Loans | 19,939 | 22,496 | 24,279 | 23,916 | 22,164 |
Lease financing [Member] | |||||
By delinquency status: | |||||
Loans | 19,831 | 19,696 | $ 19,385 | $ 19,289 | $ 12,367 |
Non-PCI [Member] | |||||
By delinquency status: | |||||
Nonaccrual loans | 5,346 | 6,496 | |||
Non-PCI [Member] | Total Commercial [Member] | |||||
By delinquency status: | |||||
Loans | 515,719 | 513,401 | |||
Nonaccrual loans | 2,254 | 2,188 | |||
Non-PCI [Member] | Commercial and industrial loans [Member] | |||||
By delinquency status: | |||||
Loans | 354,125 | 350,195 | |||
Nonaccrual loans | 1,545 | 1,486 | |||
Non-PCI [Member] | Commercial real estate mortgage [Member] | |||||
By delinquency status: | |||||
Loans | 121,824 | 121,014 | |||
Nonaccrual loans | 573 | 580 | |||
Non-PCI [Member] | Commercial real estate construction [Member] | |||||
By delinquency status: | |||||
Loans | 19,939 | 22,496 | |||
Nonaccrual loans | 41 | 32 | |||
Non-PCI [Member] | Lease financing [Member] | |||||
By delinquency status: | |||||
Loans | 19,831 | 19,696 | |||
Nonaccrual loans | 95 | 90 | |||
PCI [Member] | |||||
By delinquency status: | |||||
Loans | 568 | 5,009 | |||
PCI [Member] | Total Commercial [Member] | |||||
By delinquency status: | |||||
Loans | 0 | 4 | |||
PCI [Member] | Commercial and industrial loans [Member] | |||||
By delinquency status: | |||||
Loans | 0 | 4 | |||
PCI [Member] | Commercial real estate mortgage [Member] | |||||
By delinquency status: | |||||
Loans | 0 | 0 | |||
PCI [Member] | Commercial real estate construction [Member] | |||||
By delinquency status: | |||||
Loans | 0 | 0 | |||
PCI [Member] | Lease financing [Member] | |||||
By delinquency status: | |||||
Loans | 0 | 0 | |||
Current-29 days past due and still accruing [Member] | Non-PCI [Member] | Total Commercial [Member] | |||||
By delinquency status: | |||||
Loans | 512,406 | 510,188 | |||
Current-29 days past due and still accruing [Member] | Non-PCI [Member] | Commercial and industrial loans [Member] | |||||
By delinquency status: | |||||
Loans | 352,110 | 348,158 | |||
Current-29 days past due and still accruing [Member] | Non-PCI [Member] | Commercial real estate mortgage [Member] | |||||
By delinquency status: | |||||
Loans | 120,967 | 120,176 | |||
Current-29 days past due and still accruing [Member] | Non-PCI [Member] | Commercial real estate construction [Member] | |||||
By delinquency status: | |||||
Loans | 19,845 | 22,411 | |||
Current-29 days past due and still accruing [Member] | Non-PCI [Member] | Lease financing [Member] | |||||
By delinquency status: | |||||
Loans | 19,484 | 19,443 | |||
30-89 days past due and still accruing [Member] | Non-PCI [Member] | Total Commercial [Member] | |||||
By delinquency status: | |||||
Loans | 981 | 931 | |||
30-89 days past due and still accruing [Member] | Non-PCI [Member] | Commercial and industrial loans [Member] | |||||
By delinquency status: | |||||
Loans | 423 | 508 | |||
30-89 days past due and still accruing [Member] | Non-PCI [Member] | Commercial real estate mortgage [Member] | |||||
By delinquency status: | |||||
Loans | 253 | 207 | |||
30-89 days past due and still accruing [Member] | Non-PCI [Member] | Commercial real estate construction [Member] | |||||
By delinquency status: | |||||
Loans | 53 | 53 | |||
30-89 days past due and still accruing [Member] | Non-PCI [Member] | Lease financing [Member] | |||||
By delinquency status: | |||||
Loans | 252 | 163 | |||
90 days past due and still accruing [Member] | Non-PCI [Member] | Total Commercial [Member] | |||||
By delinquency status: | |||||
Loans | 78 | 94 | |||
90 days past due and still accruing [Member] | Non-PCI [Member] | Commercial and industrial loans [Member] | |||||
By delinquency status: | |||||
Loans | 47 | 43 | |||
90 days past due and still accruing [Member] | Non-PCI [Member] | Commercial real estate mortgage [Member] | |||||
By delinquency status: | |||||
Loans | 31 | 51 | |||
90 days past due and still accruing [Member] | Non-PCI [Member] | Commercial real estate construction [Member] | |||||
By delinquency status: | |||||
Loans | 0 | 0 | |||
90 days past due and still accruing [Member] | Non-PCI [Member] | Lease financing [Member] | |||||
By delinquency status: | |||||
Loans | $ 0 | $ 0 |
Loans and Allowance for Cred_11
Loans and Allowance for Credit Losses, Loans by Delinquency Status, Consumer (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
By delinquency status: | |||||
Loans | $ 962,265 | $ 953,110 | $ 956,770 | $ 967,604 | $ 916,559 |
Reported value measurement [Member] | |||||
By delinquency status: | |||||
Loans | 933,042 | 923,703 | |||
Non-PCI [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, 90 days or more past due and still accruing | 7,285 | 8,704 | |||
Non-PCI [Member] | Non-government insured/guaranteed [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, 90 days or more past due and still accruing | 933 | 979 | |||
PCI [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, 90 days or more past due and still accruing | 102 | 370 | |||
By delinquency status: | |||||
Loans | 568 | 5,009 | |||
Total Consumer [Member] | |||||
By delinquency status: | |||||
Loans | 446,546 | 439,705 | 453,382 | 461,068 | 459,976 |
Total Consumer [Member] | Non-PCI [Member] | |||||
By delinquency status: | |||||
Loans | 445,978 | 434,700 | |||
Total Consumer [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, 90 days or more past due and still accruing | 855 | 885 | |||
Total Consumer [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | Current-29 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 429,158 | 414,931 | |||
Total Consumer [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 30-59 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 2,685 | 3,130 | |||
Total Consumer [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 60 to 89 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 1,084 | 1,288 | |||
Total Consumer [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 90-119 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 619 | 712 | |||
Total Consumer [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 120-179 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 593 | 651 | |||
Total Consumer [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 180 plus days past due [Member] | |||||
By delinquency status: | |||||
Loans | 669 | 1,056 | |||
Total Consumer [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 90 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 1,900 | 2,400 | |||
Total Consumer [Member] | PCI [Member] | |||||
By delinquency status: | |||||
Loans | $ 568 | $ 5,005 | |||
Total Consumer [Member] | PCI [Member] | Greater than 30 days past due [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Unpaid principal balance, percent past due | 26.00% | 18.00% | |||
Total Consumer [Member] | PCI [Member] | Non-government insured/guaranteed [Member] | |||||
By delinquency status: | |||||
Loans | $ 568 | $ 5,005 | |||
Residential mortgage [Member] | |||||
By delinquency status: | |||||
Loans | 323,356 | 319,463 | |||
Residential mortgage [Member] | Non-PCI [Member] | |||||
By delinquency status: | |||||
Loans | 322,788 | 314,458 | |||
Residential mortgage [Member] | PCI [Member] | Non-government insured/guaranteed [Member] | |||||
By delinquency status: | |||||
Loans | 568 | 5,005 | |||
Real estate 1-4 family first mortgage [Member] | |||||
By delinquency status: | |||||
Loans | 293,847 | 285,065 | 284,054 | 275,579 | 273,869 |
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | |||||
By delinquency status: | |||||
Loans | 293,292 | 280,077 | |||
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, 90 days or more past due and still accruing | 112 | 124 | |||
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | Current-29 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 279,722 | 263,881 | |||
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 30-59 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 1,136 | 1,411 | |||
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 60 to 89 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 404 | 549 | |||
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 90-119 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 197 | 257 | |||
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 120-179 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 160 | 225 | |||
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 180 plus days past due [Member] | |||||
By delinquency status: | |||||
Loans | 503 | 822 | |||
Real estate 1-4 family first mortgage [Member] | PCI [Member] | Non-government insured/guaranteed [Member] | |||||
By delinquency status: | |||||
Loans | 555 | 4,988 | |||
Real estate 1-4 family junior lien mortgage [Member] | |||||
By delinquency status: | |||||
Loans | 29,509 | 34,398 | 39,713 | 46,237 | 53,004 |
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | |||||
By delinquency status: | |||||
Loans | 29,496 | 34,381 | |||
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, 90 days or more past due and still accruing | 32 | 32 | |||
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | Current-29 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 28,870 | 33,644 | |||
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 30-59 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 216 | 247 | |||
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 60 to 89 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 115 | 126 | |||
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 90-119 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 69 | 74 | |||
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 120-179 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 71 | 77 | |||
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 180 plus days past due [Member] | |||||
By delinquency status: | |||||
Loans | 155 | 213 | |||
Real estate 1-4 family junior lien mortgage [Member] | PCI [Member] | Non-government insured/guaranteed [Member] | |||||
By delinquency status: | |||||
Loans | 13 | 17 | |||
Credit card [Member] | |||||
By delinquency status: | |||||
Loans | 41,013 | 39,025 | 37,976 | 36,700 | 34,039 |
Credit card [Member] | Non-PCI [Member] | |||||
By delinquency status: | |||||
Loans | 41,013 | 39,025 | |||
Credit card [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, 90 days or more past due and still accruing | 546 | 513 | |||
Credit card [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | Current-29 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 39,935 | 38,008 | |||
Credit card [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 30-59 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 311 | 292 | |||
Credit card [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 60 to 89 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 221 | 212 | |||
Credit card [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 90-119 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 202 | 192 | |||
Credit card [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 120-179 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 343 | 320 | |||
Credit card [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 180 plus days past due [Member] | |||||
By delinquency status: | |||||
Loans | 1 | 1 | |||
Credit card [Member] | PCI [Member] | Non-government insured/guaranteed [Member] | |||||
By delinquency status: | |||||
Loans | 0 | 0 | |||
Automobile [Member] | |||||
By delinquency status: | |||||
Loans | 47,873 | 45,069 | 53,371 | 62,286 | 59,966 |
Automobile [Member] | Non-PCI [Member] | |||||
By delinquency status: | |||||
Loans | 47,873 | 45,069 | |||
Automobile [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, 90 days or more past due and still accruing | 78 | 114 | |||
Automobile [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | Current-29 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 46,650 | 43,604 | |||
Automobile [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 30-59 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 882 | 1,040 | |||
Automobile [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 60 to 89 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 263 | 314 | |||
Automobile [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 90-119 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 77 | 109 | |||
Automobile [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 120-179 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 1 | 2 | |||
Automobile [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 180 plus days past due [Member] | |||||
By delinquency status: | |||||
Loans | 0 | 0 | |||
Automobile [Member] | PCI [Member] | Non-government insured/guaranteed [Member] | |||||
By delinquency status: | |||||
Loans | 0 | 0 | |||
Other revolving credit and installment [Member] | |||||
By delinquency status: | |||||
Loans | 34,304 | 36,148 | $ 38,268 | $ 40,266 | $ 39,098 |
Other revolving credit and installment [Member] | Non-PCI [Member] | |||||
By delinquency status: | |||||
Loans | 34,304 | 36,148 | |||
Other revolving credit and installment [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, 90 days or more past due and still accruing | 87 | 102 | |||
Other revolving credit and installment [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | Current-29 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 33,981 | 35,794 | |||
Other revolving credit and installment [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 30-59 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 140 | 140 | |||
Other revolving credit and installment [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 60 to 89 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 81 | 87 | |||
Other revolving credit and installment [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 90-119 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 74 | 80 | |||
Other revolving credit and installment [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 120-179 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 18 | 27 | |||
Other revolving credit and installment [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | 180 plus days past due [Member] | |||||
By delinquency status: | |||||
Loans | 10 | 20 | |||
Other revolving credit and installment [Member] | PCI [Member] | Non-government insured/guaranteed [Member] | |||||
By delinquency status: | |||||
Loans | 0 | 0 | |||
Loans Insured or Guaranteed by US Government Authorities [Member] | Non-PCI [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, 90 days or more past due and still accruing | 6,352 | 7,725 | |||
Loans Insured or Guaranteed by US Government Authorities [Member] | Total Consumer [Member] | Non-PCI [Member] | |||||
By delinquency status: | |||||
Loans | 11,170 | 12,932 | |||
Loans Insured or Guaranteed by US Government Authorities [Member] | Total Consumer [Member] | Non-PCI [Member] | Reported value measurement [Member] | |||||
By delinquency status: | |||||
Loans | 171 | 244 | |||
Loans Insured or Guaranteed by US Government Authorities [Member] | Total Consumer [Member] | Non-PCI [Member] | Portion at other than fair value measurement [Member] | |||||
By delinquency status: | |||||
Loans | 10,999 | 12,688 | |||
Loans Insured or Guaranteed by US Government Authorities [Member] | Total Consumer [Member] | Non-PCI [Member] | 90 days past due [Member] | |||||
By delinquency status: | |||||
Loans | 6,400 | 7,700 | |||
Loans Insured or Guaranteed by US Government Authorities [Member] | Residential mortgage [Member] | Non-PCI [Member] | |||||
By delinquency status: | |||||
Loans | 11,170 | 12,932 | |||
Loans Insured or Guaranteed by US Government Authorities [Member] | Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | |||||
By delinquency status: | |||||
Loans | 11,170 | 12,932 | |||
Loans Insured or Guaranteed by US Government Authorities [Member] | Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Reported value measurement [Member] | |||||
By delinquency status: | |||||
Loans | 171 | 244 | |||
Loans Insured or Guaranteed by US Government Authorities [Member] | Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Portion at other than fair value measurement [Member] | |||||
By delinquency status: | |||||
Loans | 10,999 | 12,688 | |||
Loans Insured or Guaranteed by US Government Authorities [Member] | Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | |||||
By delinquency status: | |||||
Loans | 0 | 0 | |||
Loans Insured or Guaranteed by US Government Authorities [Member] | Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Reported value measurement [Member] | |||||
By delinquency status: | |||||
Loans | 0 | 0 | |||
Loans Insured or Guaranteed by US Government Authorities [Member] | Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Portion at other than fair value measurement [Member] | |||||
By delinquency status: | |||||
Loans | 0 | 0 | |||
Loans Insured or Guaranteed by US Government Authorities [Member] | Credit card [Member] | Non-PCI [Member] | |||||
By delinquency status: | |||||
Loans | 0 | 0 | |||
Loans Insured or Guaranteed by US Government Authorities [Member] | Credit card [Member] | Non-PCI [Member] | Reported value measurement [Member] | |||||
By delinquency status: | |||||
Loans | 0 | 0 | |||
Loans Insured or Guaranteed by US Government Authorities [Member] | Credit card [Member] | Non-PCI [Member] | Portion at other than fair value measurement [Member] | |||||
By delinquency status: | |||||
Loans | 0 | 0 | |||
Loans Insured or Guaranteed by US Government Authorities [Member] | Automobile [Member] | Non-PCI [Member] | |||||
By delinquency status: | |||||
Loans | 0 | 0 | |||
Loans Insured or Guaranteed by US Government Authorities [Member] | Automobile [Member] | Non-PCI [Member] | Reported value measurement [Member] | |||||
By delinquency status: | |||||
Loans | 0 | 0 | |||
Loans Insured or Guaranteed by US Government Authorities [Member] | Automobile [Member] | Non-PCI [Member] | Portion at other than fair value measurement [Member] | |||||
By delinquency status: | |||||
Loans | 0 | 0 | |||
Loans Insured or Guaranteed by US Government Authorities [Member] | Other revolving credit and installment [Member] | Non-PCI [Member] | |||||
By delinquency status: | |||||
Loans | 0 | 0 | |||
Loans Insured or Guaranteed by US Government Authorities [Member] | Other revolving credit and installment [Member] | Non-PCI [Member] | Reported value measurement [Member] | |||||
By delinquency status: | |||||
Loans | 0 | 0 | |||
Loans Insured or Guaranteed by US Government Authorities [Member] | Other revolving credit and installment [Member] | Non-PCI [Member] | Portion at other than fair value measurement [Member] | |||||
By delinquency status: | |||||
Loans | $ 0 | $ 0 |
Loans and Allowance for Cred_12
Loans and Allowance for Credit Losses, Loans by FICO Score, Consumer (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Loans by FICO [Abstract] | |||||
Loans | $ 962,265 | $ 953,110 | $ 956,770 | $ 967,604 | $ 916,559 |
PCI [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 568 | 5,009 | |||
Total Consumer [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 446,546 | 439,705 | 453,382 | 461,068 | 459,976 |
Total Consumer [Member] | Non-PCI [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 445,978 | 434,700 | |||
Total Consumer [Member] | Non-PCI [Member] | FICO not required [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 9,100 | 8,900 | |||
Total Consumer [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO less than 600 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 14,546 | 16,787 | |||
Total Consumer [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 600-639 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 10,927 | 11,901 | |||
Total Consumer [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 640-679 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 21,247 | 22,219 | |||
Total Consumer [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 680-719 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 36,851 | 37,659 | |||
Total Consumer [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 720-759 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 52,598 | 51,778 | |||
Total Consumer [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 760-799 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 85,229 | 80,004 | |||
Total Consumer [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 800 or more [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 196,833 | 183,959 | |||
Total Consumer [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | No FICO available [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 7,502 | 8,576 | |||
Total Consumer [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO not required [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 9,075 | 8,885 | |||
Total Consumer [Member] | Non-PCI [Member] | Government insured or guaranteed [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 11,170 | 12,932 | |||
Total Consumer [Member] | PCI [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 568 | 5,005 | |||
Total Consumer [Member] | PCI [Member] | Non-government insured/guaranteed [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | $ 568 | $ 5,005 | |||
Total Consumer [Member] | PCI [Member] | Non-government insured/guaranteed [Member] | No FICO available [Member] | |||||
Loans by FICO [Abstract] | |||||
Unpaid principal balance, percent of FICO score | 19.00% | 15.00% | |||
Total Consumer [Member] | PCI [Member] | Non-government insured/guaranteed [Member] | FICO less than 680 [Member] | |||||
Loans by FICO [Abstract] | |||||
Unpaid principal balance, percent of FICO score | 41.00% | 45.00% | |||
Residential mortgage [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | $ 323,356 | $ 319,463 | |||
Residential mortgage [Member] | Non-PCI [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 322,788 | 314,458 | |||
Residential mortgage [Member] | Non-PCI [Member] | Government insured or guaranteed [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 11,170 | 12,932 | |||
Residential mortgage [Member] | PCI [Member] | Non-government insured/guaranteed [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 568 | 5,005 | |||
Real estate 1-4 family first mortgage [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 293,847 | 285,065 | 284,054 | 275,579 | 273,869 |
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 293,292 | 280,077 | |||
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO less than 600 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 3,264 | 4,273 | |||
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 600-639 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 2,392 | 2,974 | |||
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 640-679 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 5,068 | 5,810 | |||
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 680-719 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 12,844 | 13,568 | |||
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 720-759 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 27,879 | 27,258 | |||
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 760-799 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 61,559 | 57,193 | |||
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 800 or more [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 165,460 | 151,465 | |||
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | No FICO available [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 3,656 | 4,604 | |||
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO not required [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 0 | 0 | |||
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Government insured or guaranteed [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 11,170 | 12,932 | |||
Real estate 1-4 family first mortgage [Member] | PCI [Member] | Non-government insured/guaranteed [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 555 | 4,988 | |||
Real estate 1-4 family junior lien mortgage [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 29,509 | 34,398 | 39,713 | 46,237 | 53,004 |
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 29,496 | 34,381 | |||
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO less than 600 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 1,164 | 1,454 | |||
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 600-639 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 782 | 994 | |||
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 640-679 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 1,499 | 1,898 | |||
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 680-719 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 3,192 | 3,908 | |||
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 720-759 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 4,407 | 5,323 | |||
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 760-799 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 5,483 | 6,315 | |||
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 800 or more [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 11,851 | 13,190 | |||
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | No FICO available [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 1,118 | 1,299 | |||
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO not required [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 0 | 0 | |||
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Government insured or guaranteed [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 0 | 0 | |||
Real estate 1-4 family junior lien mortgage [Member] | PCI [Member] | Non-government insured/guaranteed [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 13 | 17 | |||
Credit card [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 41,013 | 39,025 | 37,976 | 36,700 | 34,039 |
Credit card [Member] | Non-PCI [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 41,013 | 39,025 | |||
Credit card [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO less than 600 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 3,373 | 3,292 | |||
Credit card [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 600-639 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 2,853 | 2,777 | |||
Credit card [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 640-679 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 6,626 | 6,464 | |||
Credit card [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 680-719 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 9,732 | 9,445 | |||
Credit card [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 720-759 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 8,376 | 7,949 | |||
Credit card [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 760-799 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 5,648 | 5,227 | |||
Credit card [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 800 or more [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 4,037 | 3,794 | |||
Credit card [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | No FICO available [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 368 | 77 | |||
Credit card [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO not required [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 0 | 0 | |||
Credit card [Member] | Non-PCI [Member] | Government insured or guaranteed [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 0 | 0 | |||
Credit card [Member] | PCI [Member] | Non-government insured/guaranteed [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 0 | 0 | |||
Automobile Loan [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 47,873 | 45,069 | 53,371 | 62,286 | 59,966 |
Automobile Loan [Member] | Non-PCI [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 47,873 | 45,069 | |||
Automobile Loan [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO less than 600 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 6,041 | 7,071 | |||
Automobile Loan [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 600-639 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 4,230 | 4,431 | |||
Automobile Loan [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 640-679 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 6,324 | 6,225 | |||
Automobile Loan [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 680-719 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 7,871 | 7,354 | |||
Automobile Loan [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 720-759 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 7,839 | 6,853 | |||
Automobile Loan [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 760-799 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 7,624 | 5,947 | |||
Automobile Loan [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 800 or more [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 7,900 | 7,099 | |||
Automobile Loan [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | No FICO available [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 44 | 89 | |||
Automobile Loan [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO not required [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 0 | 0 | |||
Automobile Loan [Member] | Non-PCI [Member] | Government insured or guaranteed [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 0 | 0 | |||
Automobile Loan [Member] | PCI [Member] | Non-government insured/guaranteed [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 0 | 0 | |||
Other revolving credit and installment [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 34,304 | 36,148 | $ 38,268 | $ 40,266 | $ 39,098 |
Other revolving credit and installment [Member] | Non-PCI [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 34,304 | 36,148 | |||
Other revolving credit and installment [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO less than 600 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 704 | 697 | |||
Other revolving credit and installment [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 600-639 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 670 | 725 | |||
Other revolving credit and installment [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 640-679 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 1,730 | 1,822 | |||
Other revolving credit and installment [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 680-719 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 3,212 | 3,384 | |||
Other revolving credit and installment [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 720-759 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 4,097 | 4,395 | |||
Other revolving credit and installment [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 760-799 [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 4,915 | 5,322 | |||
Other revolving credit and installment [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO 800 or more [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 7,585 | 8,411 | |||
Other revolving credit and installment [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | No FICO available [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 2,316 | 2,507 | |||
Other revolving credit and installment [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | FICO not required [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 9,075 | 8,885 | |||
Other revolving credit and installment [Member] | Non-PCI [Member] | Government insured or guaranteed [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | 0 | 0 | |||
Other revolving credit and installment [Member] | PCI [Member] | Non-government insured/guaranteed [Member] | |||||
Loans by FICO [Abstract] | |||||
Loans | $ 0 | $ 0 |
Loans and Allowance for Cred_13
Loans and Allowance for Credit Losses, Loans by Loan to Value Ratio, Consumer (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
High value properties, threshold | $ 1 | ||||
Loans by Loan to Value [Abstract] | |||||
Loans | 962,265 | $ 953,110 | $ 956,770 | $ 967,604 | $ 916,559 |
PCI [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 568 | 5,009 | |||
Total Consumer [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 446,546 | 439,705 | 453,382 | 461,068 | 459,976 |
Total Consumer [Member] | Non-PCI [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 445,978 | 434,700 | |||
Total Consumer [Member] | Non-PCI [Member] | Government insured or guaranteed [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 11,170 | 12,932 | |||
Total Consumer [Member] | PCI [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 568 | 5,005 | |||
Total Consumer [Member] | PCI [Member] | Non-government insured/guaranteed [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | $ 568 | $ 5,005 | |||
Total Consumer [Member] | PCI [Member] | Non-government insured/guaranteed [Member] | LTV greater than 80% [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing receivable, percent of debt-to-value ratio | 9.00% | 10.00% | |||
Residential mortgage [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | $ 323,356 | $ 319,463 | |||
Residential mortgage [Member] | Non-PCI [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 322,788 | 314,458 | |||
Residential mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | LTV 0-60% [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 166,081 | 163,419 | |||
Residential mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | LTV 60.01-80% [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 124,458 | 115,660 | |||
Residential mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | LTV 80.01-100% [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 17,441 | 17,246 | |||
Residential mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | LTV 100.01-120% [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 1,838 | 2,807 | |||
Residential mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | LTV greater than 120% [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 674 | 1,062 | |||
Residential mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | No LTV/CLTV available [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 1,126 | 1,332 | |||
Residential mortgage [Member] | Non-PCI [Member] | Government insured or guaranteed [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 11,170 | 12,932 | |||
Residential mortgage [Member] | PCI [Member] | Non-government insured/guaranteed [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 568 | 5,005 | |||
Real estate 1-4 family first mortgage [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 293,847 | 285,065 | 284,054 | 275,579 | 273,869 |
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 293,292 | 280,077 | |||
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | LTV 0-60% [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 151,478 | 147,666 | |||
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | LTV 60.01-80% [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 114,795 | 104,477 | |||
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | LTV 80.01-100% [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 13,867 | 12,372 | |||
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | LTV 100.01-120% [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 860 | 1,211 | |||
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | LTV greater than 120% [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 338 | 484 | |||
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | No LTV/CLTV available [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 784 | 935 | |||
Real estate 1-4 family first mortgage [Member] | Non-PCI [Member] | Government insured or guaranteed [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 11,170 | 12,932 | |||
Real estate 1-4 family first mortgage [Member] | PCI [Member] | Non-government insured/guaranteed [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 555 | 4,988 | |||
Real estate 1-4 family junior lien mortgage [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 29,509 | 34,398 | $ 39,713 | $ 46,237 | $ 53,004 |
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 29,496 | 34,381 | |||
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | LTV 0-60% [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 14,603 | 15,753 | |||
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | LTV 60.01-80% [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 9,663 | 11,183 | |||
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | LTV 80.01-100% [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 3,574 | 4,874 | |||
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | LTV 100.01-120% [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 978 | 1,596 | |||
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | LTV greater than 120% [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 336 | 578 | |||
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Non-government insured/guaranteed [Member] | No LTV/CLTV available [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 342 | 397 | |||
Real estate 1-4 family junior lien mortgage [Member] | Non-PCI [Member] | Government insured or guaranteed [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | 0 | 0 | |||
Real estate 1-4 family junior lien mortgage [Member] | PCI [Member] | Non-government insured/guaranteed [Member] | |||||
Loans by Loan to Value [Abstract] | |||||
Loans | $ 13 | $ 17 |
Loans and Allowance for Cred_14
Loans and Allowance for Credit Losses, Nonaccrual (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Residential mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Mortgage loans in process of foreclosure, amount | $ 3,500 | $ 4,600 |
Government guaranteed mortgage loans upon foreclosure receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Mortgage loans in process of foreclosure, amount | 2,800 | 3,200 |
Non-PCI [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 5,346 | 6,496 |
Non-PCI [Member] | Total Commercial [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 2,254 | 2,188 |
Non-PCI [Member] | Commercial and industrial loans [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 1,545 | 1,486 |
Non-PCI [Member] | Commercial real estate mortgage [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 573 | 580 |
Non-PCI [Member] | Commercial real estate construction [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 41 | 32 |
Non-PCI [Member] | Lease financing [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 95 | 90 |
Non-PCI [Member] | Total Consumer [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 3,092 | 4,308 |
Non-PCI [Member] | Real estate 1-4 family first mortgage [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 2,150 | 3,183 |
Non-PCI [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 796 | 945 |
Non-PCI [Member] | Automobile [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 106 | 130 |
Non-PCI [Member] | Other revolving credit and installment [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | $ 40 | $ 50 |
Loans and Allowance for Cred_15
Loans and Allowance for Credit Losses, 90 Days or More Past Due and Still Accruing (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Non-PCI [Member] | ||
Loans 90 days or more past due and still accruing: | ||
Loans, 90 days or more past due and still accruing | $ 7,285 | $ 8,704 |
Non-PCI [Member] | Non-government insured/guaranteed [Member] | ||
Loans 90 days or more past due and still accruing: | ||
Loans, 90 days or more past due and still accruing | 933 | 979 |
Non-PCI [Member] | Non-government insured/guaranteed [Member] | Total Commercial [Member] | ||
Loans 90 days or more past due and still accruing: | ||
Loans, 90 days or more past due and still accruing | 78 | 94 |
Non-PCI [Member] | Non-government insured/guaranteed [Member] | Commercial and industrial loans [Member] | ||
Loans 90 days or more past due and still accruing: | ||
Loans, 90 days or more past due and still accruing | 47 | 43 |
Non-PCI [Member] | Non-government insured/guaranteed [Member] | Commercial real estate mortgage [Member] | ||
Loans 90 days or more past due and still accruing: | ||
Loans, 90 days or more past due and still accruing | 31 | 51 |
Non-PCI [Member] | Non-government insured/guaranteed [Member] | Total Consumer [Member] | ||
Loans 90 days or more past due and still accruing: | ||
Loans, 90 days or more past due and still accruing | 855 | 885 |
Non-PCI [Member] | Non-government insured/guaranteed [Member] | Real estate 1-4 family first mortgage [Member] | ||
Loans 90 days or more past due and still accruing: | ||
Loans, 90 days or more past due and still accruing | 112 | 124 |
Non-PCI [Member] | Non-government insured/guaranteed [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
Loans 90 days or more past due and still accruing: | ||
Loans, 90 days or more past due and still accruing | 32 | 32 |
Non-PCI [Member] | Non-government insured/guaranteed [Member] | Credit card [Member] | ||
Loans 90 days or more past due and still accruing: | ||
Loans, 90 days or more past due and still accruing | 546 | 513 |
Non-PCI [Member] | Non-government insured/guaranteed [Member] | Automobile [Member] | ||
Loans 90 days or more past due and still accruing: | ||
Loans, 90 days or more past due and still accruing | 78 | 114 |
Non-PCI [Member] | Non-government insured/guaranteed [Member] | Other revolving credit and installment [Member] | ||
Loans 90 days or more past due and still accruing: | ||
Loans, 90 days or more past due and still accruing | 87 | 102 |
Non-PCI [Member] | Government insured or guaranteed [Member] | ||
Loans 90 days or more past due and still accruing: | ||
Loans, 90 days or more past due and still accruing | 6,352 | 7,725 |
PCI [Member] | ||
Loans 90 days or more past due and still accruing: | ||
Loans, 90 days or more past due and still accruing | $ 102 | $ 370 |
Loans and Allowance for Cred_16
Loans and Allowance for Credit Losses, Impaired Loans (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Financing Receivable, Impaired [Line Items] | ||
Trial modifications | $ 11,800 | $ 15,500 |
Loans and leases receivable, impaired, commitment to lend | 500 | 513 |
Total Consumer [Member] | Trial modifications [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Trial modifications | 115 | 149 |
Real estate 1-4 family first mortgage [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans reclassified to held-for-sale | 1,700 | |
Non-PCI [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 14,670 | 19,464 |
Impaired loans | 13,030 | 16,347 |
Impaired loans with related allowance for credit losses | 8,927 | 9,078 |
Related allowance for credit losses | 1,314 | 1,443 |
Non-PCI [Member] | Total Commercial [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 4,141 | 4,505 |
Impaired loans | 3,133 | 3,221 |
Impaired loans with related allowance for credit losses | 2,852 | 2,897 |
Related allowance for credit losses | 467 | 514 |
Non-PCI [Member] | Commercial and industrial loans [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 2,792 | 3,057 |
Impaired loans | 2,003 | 2,030 |
Impaired loans with related allowance for credit losses | 1,903 | 1,730 |
Related allowance for credit losses | 311 | 319 |
Non-PCI [Member] | Commercial real estate mortgage [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 1,137 | 1,228 |
Impaired loans | 974 | 1,032 |
Impaired loans with related allowance for credit losses | 803 | 1,009 |
Related allowance for credit losses | 110 | 154 |
Non-PCI [Member] | Commercial real estate construction [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 81 | 74 |
Impaired loans | 51 | 47 |
Impaired loans with related allowance for credit losses | 41 | 46 |
Related allowance for credit losses | 11 | 9 |
Non-PCI [Member] | Lease financing [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 131 | 146 |
Impaired loans | 105 | 112 |
Impaired loans with related allowance for credit losses | 105 | 112 |
Related allowance for credit losses | 35 | 32 |
Non-PCI [Member] | Total Consumer [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 10,529 | 14,959 |
Impaired loans | 9,897 | 13,126 |
Impaired loans with related allowance for credit losses | 6,075 | 6,181 |
Related allowance for credit losses | 847 | 929 |
Non-PCI [Member] | Residential mortgage [Member] | Government insured or guaranteed [Member] | ||
Impaired Loans [Abstract] | ||
Impaired loans | 1,200 | 1,300 |
Non-PCI [Member] | Real estate 1-4 family first mortgage [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 8,107 | 12,309 |
Impaired loans | 7,674 | 10,738 |
Impaired loans with related allowance for credit losses | 4,433 | 4,420 |
Related allowance for credit losses | 437 | 525 |
Non-PCI [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 1,586 | 1,886 |
Impaired loans | 1,451 | 1,694 |
Impaired loans with related allowance for credit losses | 925 | 1,133 |
Related allowance for credit losses | 144 | 183 |
Non-PCI [Member] | Credit card [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 520 | 449 |
Impaired loans | 520 | 449 |
Impaired loans with related allowance for credit losses | 520 | 449 |
Related allowance for credit losses | 209 | 172 |
Non-PCI [Member] | Automobile [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 138 | 153 |
Impaired loans | 81 | 89 |
Impaired loans with related allowance for credit losses | 42 | 43 |
Related allowance for credit losses | 8 | 8 |
Non-PCI [Member] | Other revolving credit and installment [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 178 | 162 |
Impaired loans | 171 | 156 |
Impaired loans with related allowance for credit losses | 155 | 136 |
Related allowance for credit losses | $ 49 | $ 41 |
Loans and Allowance for Cred_17
Loans and Allowance for Credit Losses, Impaired Loans, Average Recorded Investment and Interest Income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | |||
Average recorded investment | $ 14,713 | $ 17,626 | $ 20,633 |
Recognized interest income | 889 | 1,121 | 1,130 |
Interest income: | |||
Cash basis of accounting | 241 | 338 | 299 |
Other | 648 | 783 | 831 |
Total Commercial [Member] | |||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | |||
Average recorded investment | 3,362 | 3,665 | 4,740 |
Recognized interest income | 195 | 270 | 224 |
Commercial and industrial loans [Member] | |||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | |||
Average recorded investment | 2,150 | 2,287 | 3,241 |
Recognized interest income | 129 | 173 | 118 |
Commercial real estate mortgage [Member] | |||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | |||
Average recorded investment | 1,067 | 1,193 | 1,328 |
Recognized interest income | 59 | 89 | 91 |
Commercial real estate construction [Member] | |||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | |||
Average recorded investment | 52 | 60 | 66 |
Recognized interest income | 6 | 7 | 14 |
Lease financing [Member] | |||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | |||
Average recorded investment | 93 | 125 | 105 |
Recognized interest income | 1 | 1 | 1 |
Total Consumer [Member] | |||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | |||
Average recorded investment | 11,351 | 13,961 | 15,893 |
Recognized interest income | 694 | 851 | 906 |
Real estate 1-4 family first mortgage [Member] | |||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | |||
Average recorded investment | 9,031 | 11,522 | 13,326 |
Recognized interest income | 506 | 664 | 730 |
Real estate 1-4 family junior lien mortgage [Member] | |||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | |||
Average recorded investment | 1,586 | 1,804 | 2,041 |
Recognized interest income | 99 | 116 | 121 |
Credit card [Member] | |||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | |||
Average recorded investment | 488 | 407 | 323 |
Recognized interest income | 64 | 50 | 36 |
Automobile [Member] | |||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | |||
Average recorded investment | 84 | 86 | 86 |
Recognized interest income | 12 | 11 | 11 |
Other revolving credit and installment [Member] | |||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | |||
Average recorded investment | 162 | 142 | 117 |
Recognized interest income | $ 13 | $ 10 | $ 8 |
Loans and Allowance for Cred_18
Loans and Allowance for Credit Losses, Troubled Debt Restructurings Modifications by Type (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing receivable, troubled debt restructuring | $ 11,800 | $ 15,500 | |
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 3,523 | 4,786 | $ 5,578 |
Financial effects of modifications [Abstract] | |||
Charge-offs | $ 138 | $ 97 | $ 262 |
Weighted average interest rate reduction | 8.33% | 8.06% | 5.92% |
Total Commercial [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | $ 1,892 | $ 2,859 | $ 3,616 |
Financial effects of modifications [Abstract] | |||
Charge-offs | $ 104 | $ 58 | $ 193 |
Weighted average interest rate reduction | 0.49% | 1.00% | 1.00% |
Commercial and industrial loans [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | $ 1,389 | $ 2,352 | $ 2,981 |
Financial effects of modifications [Abstract] | |||
Charge-offs | $ 104 | $ 58 | $ 173 |
Weighted average interest rate reduction | 0.40% | 1.18% | 0.64% |
Commercial real estate mortgage [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | $ 455 | $ 419 | $ 571 |
Financial effects of modifications [Abstract] | |||
Charge-offs | $ 0 | $ 0 | $ 20 |
Weighted average interest rate reduction | 0.69% | 0.88% | 1.28% |
Commercial real estate construction [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | $ 46 | $ 25 | $ 27 |
Financial effects of modifications [Abstract] | |||
Charge-offs | $ 0 | $ 0 | $ 0 |
Weighted average interest rate reduction | 1.00% | 0.00% | 0.69% |
Lease financing [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | $ 2 | $ 63 | $ 37 |
Financial effects of modifications [Abstract] | |||
Charge-offs | $ 0 | $ 0 | $ 0 |
Weighted average interest rate reduction | 0.00% | 0.00% | 0.00% |
Total Consumer [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | $ 1,631 | $ 1,927 | $ 1,962 |
Loan restructuring, trial modifications, amount | 13 | 8 | (28) |
Financial effects of modifications [Abstract] | |||
Charge-offs | $ 34 | $ 39 | $ 69 |
Weighted average interest rate reduction | 10.19% | 8.96% | 6.70% |
Real estate 1-4 family first mortgage [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | $ 991 | $ 1,277 | $ 1,406 |
Financial effects of modifications [Abstract] | |||
Charge-offs | $ 2 | $ 4 | $ 15 |
Weighted average interest rate reduction | 2.04% | 2.25% | 2.57% |
Real estate 1-4 family junior lien mortgage [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | $ 124 | $ 161 | $ 188 |
Financial effects of modifications [Abstract] | |||
Charge-offs | $ 3 | $ 5 | $ 14 |
Weighted average interest rate reduction | 2.35% | 2.14% | 3.26% |
Credit card [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | $ 376 | $ 336 | $ 257 |
Financial effects of modifications [Abstract] | |||
Charge-offs | $ 0 | $ 0 | $ 0 |
Weighted average interest rate reduction | 12.91% | 12.54% | 11.98% |
Automobile [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | $ 68 | $ 84 | $ 84 |
Financial effects of modifications [Abstract] | |||
Charge-offs | $ 29 | $ 30 | $ 39 |
Weighted average interest rate reduction | 4.86% | 6.21% | 5.89% |
Other revolving credit and installment [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | $ 59 | $ 61 | $ 55 |
Financial effects of modifications [Abstract] | |||
Charge-offs | $ 0 | $ 0 | $ 1 |
Weighted average interest rate reduction | 8.07% | 7.95% | 7.47% |
Primary modification type, Principal [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | $ 150 | $ 242 | $ 287 |
Financial effects of modifications [Abstract] | |||
Charge-offs | 24 | 28 | 32 |
Primary modification type, Principal [Member] | Total Commercial [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 26 | 13 | 29 |
Primary modification type, Principal [Member] | Commercial and industrial loans [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 13 | 13 | 24 |
Primary modification type, Principal [Member] | Commercial real estate mortgage [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 0 | 0 | 5 |
Primary modification type, Principal [Member] | Commercial real estate construction [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 13 | 0 | 0 |
Primary modification type, Principal [Member] | Lease financing [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 0 | 0 | 0 |
Primary modification type, Principal [Member] | Total Consumer [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 124 | 229 | 258 |
Loan restructuring, trial modifications, amount | 0 | 0 | 0 |
Primary modification type, Principal [Member] | Real estate 1-4 family first mortgage [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 110 | 209 | 231 |
Primary modification type, Principal [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 5 | 7 | 25 |
Primary modification type, Principal [Member] | Credit card [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 0 | 0 | 0 |
Primary modification type, Principal [Member] | Automobile [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 8 | 13 | 2 |
Primary modification type, Principal [Member] | Other revolving credit and installment [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 1 | 0 | 0 |
Primary modification type, Interest rate reduction [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 615 | 541 | 646 |
Primary modification type, Interest rate reduction [Member] | Total Commercial [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 129 | 73 | 105 |
Primary modification type, Interest rate reduction [Member] | Commercial and industrial loans [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 90 | 29 | 45 |
Primary modification type, Interest rate reduction [Member] | Commercial real estate mortgage [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 38 | 44 | 59 |
Primary modification type, Interest rate reduction [Member] | Commercial real estate construction [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 1 | 0 | 1 |
Primary modification type, Interest rate reduction [Member] | Lease financing [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 0 | 0 | 0 |
Primary modification type, Interest rate reduction [Member] | Total Consumer [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 486 | 468 | 541 |
Loan restructuring, trial modifications, amount | 0 | 0 | 0 |
Primary modification type, Interest rate reduction [Member] | Real estate 1-4 family first mortgage [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 13 | 26 | 140 |
Primary modification type, Interest rate reduction [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 37 | 41 | 82 |
Primary modification type, Interest rate reduction [Member] | Credit card [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 376 | 336 | 257 |
Primary modification type, Interest rate reduction [Member] | Automobile [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 9 | 16 | 15 |
Primary modification type, Interest rate reduction [Member] | Other revolving credit and installment [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 51 | 49 | 47 |
Primary modification type, Other concessions [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 2,758 | 4,003 | 4,645 |
Primary modification type, Other concessions [Member] | Total Commercial [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 1,737 | 2,773 | 3,482 |
Primary modification type, Other concessions [Member] | Commercial and industrial loans [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 1,286 | 2,310 | 2,912 |
Primary modification type, Other concessions [Member] | Commercial real estate mortgage [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 417 | 375 | 507 |
Primary modification type, Other concessions [Member] | Commercial real estate construction [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 32 | 25 | 26 |
Primary modification type, Other concessions [Member] | Lease financing [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 2 | 63 | 37 |
Primary modification type, Other concessions [Member] | Total Consumer [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 1,021 | 1,230 | 1,163 |
Loan restructuring, trial modifications, amount | 13 | 8 | (28) |
Primary modification type, Other concessions [Member] | Real estate 1-4 family first mortgage [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 868 | 1,042 | 1,035 |
Primary modification type, Other concessions [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 82 | 113 | 81 |
Primary modification type, Other concessions [Member] | Credit card [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 0 | 0 | 0 |
Primary modification type, Other concessions [Member] | Automobile [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 51 | 55 | 67 |
Primary modification type, Other concessions [Member] | Other revolving credit and installment [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 7 | 12 | 8 |
Trial modifications [Member] | Total Consumer [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing receivable, troubled debt restructuring | 115 | 149 | |
Financial effects of modifications [Abstract] | |||
Charge-offs | $ 0 | $ 0 | $ 0 |
Weighted average interest rate reduction | 0.00% | 0.00% | 0.00% |
Financial effects of modification, Recorded investment related to interest rate reduction [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | $ 673 | $ 638 | $ 774 |
Financial effects of modification, Recorded investment related to interest rate reduction [Member] | Total Commercial [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 129 | 73 | 105 |
Financial effects of modification, Recorded investment related to interest rate reduction [Member] | Commercial and industrial loans [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 90 | 29 | 45 |
Financial effects of modification, Recorded investment related to interest rate reduction [Member] | Commercial real estate mortgage [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 38 | 44 | 59 |
Financial effects of modification, Recorded investment related to interest rate reduction [Member] | Commercial real estate construction [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 1 | 0 | 1 |
Financial effects of modification, Recorded investment related to interest rate reduction [Member] | Lease financing [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 0 | 0 | 0 |
Financial effects of modification, Recorded investment related to interest rate reduction [Member] | Total Consumer [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 544 | 565 | 669 |
Loan restructuring, trial modifications, amount | 0 | 0 | 0 |
Financial effects of modification, Recorded investment related to interest rate reduction [Member] | Real estate 1-4 family first mortgage [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 68 | 119 | 257 |
Financial effects of modification, Recorded investment related to interest rate reduction [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 39 | 45 | 93 |
Financial effects of modification, Recorded investment related to interest rate reduction [Member] | Credit card [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 376 | 336 | 257 |
Financial effects of modification, Recorded investment related to interest rate reduction [Member] | Automobile [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 9 | 16 | 15 |
Financial effects of modification, Recorded investment related to interest rate reduction [Member] | Other revolving credit and installment [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | 52 | 49 | 47 |
Loans remodified [Member] | |||
Primary Modification Type [Abstract] | |||
Financing receivable, troubled debt restructuring, post modification | $ 1,100 | $ 1,900 | $ 2,100 |
Loans and Allowance for Cred_19
Loans and Allowance for Credit Losses, Troubled Debt Restructurings, Current Defaults (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Recorded investment of defaults | $ 338 | $ 483 | $ 466 |
Total Commercial [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Recorded investment of defaults | 176 | 310 | 239 |
Commercial and industrial loans [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Recorded investment of defaults | 111 | 198 | 173 |
Commercial real estate mortgage [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Recorded investment of defaults | 48 | 76 | 61 |
Commercial real estate construction [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Recorded investment of defaults | 17 | 36 | 4 |
Lease financing [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Recorded investment of defaults | 0 | 0 | 1 |
Total Consumer [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Recorded investment of defaults | 162 | 173 | 227 |
Real estate 1-4 family first mortgage [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Recorded investment of defaults | 41 | 60 | 114 |
Real estate 1-4 family junior lien mortgage [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Recorded investment of defaults | 13 | 14 | 19 |
Credit card [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Recorded investment of defaults | 88 | 79 | 74 |
Automobile [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Recorded investment of defaults | 12 | 14 | 15 |
Other revolving credit and installment [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Recorded investment of defaults | $ 8 | $ 6 | $ 5 |
Loans and Allowance for Cred_20
Loans and Allowance for Credit Losses Loans and Allowance for Credit Losses, PCI Loans Outstanding (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Purchased Credit Impaired Loans [Abstract] | |||||
Loans | $ 962,265 | $ 953,110 | $ 956,770 | $ 967,604 | $ 916,559 |
Total Commercial [Member] | |||||
Purchased Credit Impaired Loans [Abstract] | |||||
Loans | 515,719 | 513,405 | 503,388 | 506,536 | 456,583 |
Total Consumer [Member] | |||||
Purchased Credit Impaired Loans [Abstract] | |||||
Loans | 446,546 | 439,705 | $ 453,382 | $ 461,068 | $ 459,976 |
PCI [Member] | |||||
Purchased Credit Impaired Loans [Abstract] | |||||
Loans | 568 | 5,009 | |||
Finance receivables sold amount | 4,000 | 6,200 | |||
Gain (loss) on sale of financing receivable | 1,600 | 2,400 | |||
PCI [Member] | Total Commercial [Member] | |||||
Purchased Credit Impaired Loans [Abstract] | |||||
Loans | 0 | 4 | |||
PCI [Member] | Total Consumer [Member] | |||||
Purchased Credit Impaired Loans [Abstract] | |||||
Loans | 568 | 5,005 | |||
PCI loans (unpaid principal balance) [Member] | |||||
Purchased Credit Impaired Loans [Abstract] | |||||
Total PCI loans (unpaid principal balance) | $ 990 | $ 7,348 |
Leasing Activity, Leasing Reven
Leasing Activity, Leasing Revenue (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Leases [Line Items] | |||
Interest income on lease financing | $ 869 | ||
Variable revenues on lease financing | 96 | ||
Fixed revenues on operating leases | 1,393 | ||
Variable revenues on operating leases | 66 | ||
Lease income | 1,612 | $ 1,753 | $ 1,907 |
Total leasing revenue | 2,481 | ||
Assets lease-related revenues [Member] | |||
Leases [Line Items] | |||
Other lease-related revenues | $ 57 |
Leasing Activity, Investment in
Leasing Activity, Investment in Lease Financing (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Investment in Lease Financing [Line Items] | ||
Lease receivables | $ 18,114 | |
Residual asset values | 4,208 | |
Unearned income | (2,491) | |
Lease financing | 19,831 | |
Leasing Activity Disclosures Textual [Abstract] | ||
Net investment in financing and sales-type leases - average leases - lessor | 1,900 | |
Operating lease assets, lessor | 10,200 | $ 9,444 |
Assets leased to others [Member] | ||
Leasing Activity Disclosures Textual [Abstract] | ||
Operating lease assets, lessor | 8,221 | $ 9,036 |
Accumulated depreciation, Operating lease assets, lessor | (3,100) | |
Depreciation, Operating lease assets, lessor | $ 848 |
Leasing Activity, Maturities of
Leasing Activity, Maturities of Lease Receivables (Details) $ in Millions | Dec. 31, 2019USD ($) |
Sales-type and Direct Financing Leases, Lease Receivable, Fiscal Year Maturity [Abstract] | |
2020, direct financing and sales-type leases | $ 5,953 |
2021, direct financing and sales-type leases | 4,997 |
2022, direct financing and sales-type leases | 2,951 |
2023, direct financing and sales-type leases | 1,634 |
2024, direct financing and sales-type leases | 862 |
Thereafter, direct financing and sales-type leases | 1,717 |
Total lease receivable, direct financing and sales-type leases | 18,114 |
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract] | |
2020, operating leases | 883 |
2021, operating leases | 614 |
2022, operating leases | 434 |
2023, operating leases | 298 |
2024, operating leases | 199 |
Thereafter, operating leases | 447 |
Total lease receivables, operating leases | $ 2,875 |
Leasing Activity, Operating Lea
Leasing Activity, Operating Lease Right of Use (ROU) Assets and Lease Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Leases [Abstract] | ||
ROU assets | $ 4,724 | $ 0 |
Lease liabilities | $ 5,297 |
Leasing Activity, Lease Costs (
Leasing Activity, Lease Costs (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Leases [Abstract] | |||
Fixed lease expense - operating leases | $ 1,212 | ||
Variable lease expense | 314 | ||
Other | (68) | ||
Total lease costs | $ 1,458 | ||
Operating leases, rent expense, net | $ 1,300 | $ 1,300 |
Leasing Activity, Lease Payment
Leasing Activity, Lease Payments on Operating Leases Prior to Adoption of ASU 2016-02 - Leases (Details) $ in Millions | Dec. 31, 2018USD ($) |
Leases [Abstract] | |
2019, operating leases, prior to adoption of ASU 2016-02 | $ 1,174 |
2020, operating leases, prior to adoption of ASU 2016-02 | 1,056 |
2021, operating leases, prior to adoption of ASU 2016-02 | 880 |
2022, operating leases, prior to adoption of ASU 2016-02 | 713 |
2023, operating leases, prior to adoption of ASU 2016-02 | 577 |
Thereafter, operating leases, prior to adoption of ASU 2016-02 | 1,654 |
Total, operating leases, prior to adoption of ASU 2016-02 | $ 6,054 |
Leasing Activity, Lease Payme_2
Leasing Activity, Lease Payments on Operating Leases Subsequent to Adoption of ASU 2016-02 - Leases (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Lessee, Operating Lease, Liability, Payment, Due [Abstract] | |
2020, operating leases, subsequent to adoption of ASU 2016-02 | $ 1,006 |
2021, operating leases, subsequent to adoption of ASU 2016-02 | 1,045 |
2022, operating leases, subsequent to adoption of ASU 2016-02 | 897 |
2023, operating leases, subsequent to adoption of ASU 2016-02 | 750 |
2024, operating leases, subsequent to adoption of ASU 2016-02 | 597 |
Thereafter, operating leases, subsequent to adoption of ASU 2016-02 | 1,672 |
Total lease payments, operating leases, subsequent to adoption of ASU 2016-02 | 5,967 |
Less: imputed interest | 670 |
Total operating lease liabilities | $ 5,297 |
Weighted average remaining lease term (in years) | 7 years 1 month 6 days |
Weighted average discount rate | 3.10% |
Leasing Activity Disclosures Textual [Abstract] | |
Lessee, Operating lease, term of contract | 15 years |
Lessee, Operating lease, term of contract, longest expiration year | 2105 |
Lessee, Operating lease, not yet commenced, lease commitment amount | $ 159 |
Lessee, Operating lease, not yet commenced, earliest year of commencement | 2020 |
Minimum [Member] | |
Leasing Activity Disclosures Textual [Abstract] | |
Lessee, Operating lease, lease not yet commenced, term of contract | 2 years |
Maximum [Member] | |
Leasing Activity Disclosures Textual [Abstract] | |
Lessee, Operating lease, lease not yet commenced, term of contract | 17 years |
Equity Securities (Details)
Equity Securities (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Equity Securities [Line Items] | |||
Equity securities, carried at fair value | $ 41,936 | $ 29,556 | |
Equity securities | 68,241 | 55,148 | |
Equity Securities Disclosures Textual [Abstract] | |||
Securities held as economic hedges related to deferred compensation plan obligations | 3,800 | 3,200 | |
Federal home loan bank stock and federal reserve bank stock | 4,800 | 5,600 | |
Loss from affordable housing projects, equity method investments | 1,300 | 1,200 | $ 1,200 |
Affordable housing tax credits and other tax benefits, amount | 1,500 | 1,500 | 1,500 |
Affordable housing tax credits, amount | $ 1,200 | 1,200 | $ 1,100 |
Affordable housing tax credits commitment, payment period | 3 years | ||
Qualified affordable housing project investments, commitment | $ 4,300 | 3,900 | |
Held for trading [Member] | Marketable equity securities [Member] | |||
Equity Securities [Line Items] | |||
Equity securities, carried at fair value | 27,440 | 19,449 | |
Not held for trading [Member] | |||
Equity Securities [Line Items] | |||
Equity securities, carried at fair value | 14,496 | 10,107 | |
Equity securities | 40,801 | 35,699 | |
Not held for trading [Member] | Marketable equity securities [Member] | |||
Equity Securities [Line Items] | |||
Equity securities, carried at fair value | 6,481 | 4,513 | |
Not held for trading [Member] | Nonmarketable equity securities [Member] | |||
Equity Securities [Line Items] | |||
Equity securities, carried at fair value | 8,015 | 5,594 | |
Not held for trading [Member] | Equity method investments [Member] | |||
Equity Securities [Line Items] | |||
Equity securities, not carried at fair value | 19,000 | 18,215 | |
Not held for trading [Member] | Low income housing tax credit equity method investments [Member] | |||
Equity Securities [Line Items] | |||
Equity securities, not carried at fair value | 11,343 | 10,999 | |
Not held for trading [Member] | Private equity funds [Member] | |||
Equity Securities [Line Items] | |||
Equity securities, not carried at fair value | 3,459 | 3,832 | |
Not held for trading [Member] | Tax advantaged renewable energy [Member] | |||
Equity Securities [Line Items] | |||
Equity securities, not carried at fair value | 3,811 | 3,073 | |
Not held for trading [Member] | New market tax credit and other [Member] | |||
Equity Securities [Line Items] | |||
Equity securities, not carried at fair value | 387 | 311 | |
Not held for trading [Member] | Investment in federal reserve bank stock and other [Member] | |||
Equity Securities [Line Items] | |||
Equity securities, not carried at fair value | 4,790 | 5,643 | |
Not held for trading [Member] | Other security investments - Private equity [Member] | |||
Equity Securities [Line Items] | |||
Equity securities, not carried at fair value | $ 2,515 | $ 1,734 |
Equity Securities Net Gains (Lo
Equity Securities Net Gains (Losses) from Equity Securities (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net Gains (Losses) from Equity Securities [Line Items] | |||
Net gains from equity securities (2) | $ 2,843 | $ 1,515 | $ 1,779 |
Not designated as hedging instrument [Member] | |||
Net Gains (Losses) from Equity Securities [Line Items] | |||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (4,959) | 4,947 | (4,376) |
Not designated as hedging instrument [Member] | Net gain (loss) from equity securities [Member] | |||
Net Gains (Losses) from Equity Securities [Line Items] | |||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (2,120) | (408) | (1,483) |
Economic hedges [Member] | |||
Net Gains (Losses) from Equity Securities [Line Items] | |||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (26) | 35 | (1,954) |
Economic hedges [Member] | Net gain (loss) from equity securities [Member] | |||
Net Gains (Losses) from Equity Securities [Line Items] | |||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (2,120) | (408) | (1,483) |
Equity securities [Member] | Net gain (loss) from equity securities [Member] | |||
Net Gains (Losses) from Equity Securities [Line Items] | |||
Net gain (loss) from equity securities carried at fair value | 3,480 | 320 | 2,524 |
Marketable equity securities [Member] | Net gain (loss) from equity securities [Member] | |||
Net Gains (Losses) from Equity Securities [Line Items] | |||
Net gain (loss) from equity securities carried at fair value | 1,067 | (389) | 967 |
Nonmarketable equity securities [Member] | Net gain (loss) from equity securities [Member] | |||
Net Gains (Losses) from Equity Securities [Line Items] | |||
Net gain (loss) from equity securities carried at fair value | 2,413 | 709 | 1,557 |
Net gain (loss) from nonmarketable equity securities not carried at fair value | 1,483 | 1,603 | 738 |
Nonmarketable equity securities [Member] | Impairment write-downs | |||
Net Gains (Losses) from Equity Securities [Line Items] | |||
Net gain (loss) from nonmarketable equity securities not carried at fair value | (245) | (352) | (339) |
Nonmarketable equity securities [Member] | Measurement alternative observable transactions [Member] | |||
Net Gains (Losses) from Equity Securities [Line Items] | |||
Net gain (loss) from nonmarketable equity securities not carried at fair value | 567 | 418 | 0 |
Nonmarketable equity securities [Member] | Realized gains on sale [Member] | |||
Net Gains (Losses) from Equity Securities [Line Items] | |||
Net gain (loss) from nonmarketable equity securities not carried at fair value | 1,161 | 1,504 | 980 |
Nonmarketable equity securities [Member] | Other [Member] | |||
Net Gains (Losses) from Equity Securities [Line Items] | |||
Net gain (loss) from nonmarketable equity securities not carried at fair value | $ 0 | $ 33 | $ 97 |
Equity Securities Measurement A
Equity Securities Measurement Alternative (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net Gains (Losses) from Measurement Alternative Equity Securities | |||
Total net gains recognized during the period | $ 2,843 | $ 1,515 | $ 1,779 |
Measurement alternative [Member] | Nonmarketable equity securities [Member] | |||
Net Gains (Losses) from Measurement Alternative Equity Securities | |||
Gross unrealized gains due to observable price changes | 584 | 443 | |
Gross unrealized losses due to observable price changes | (17) | (25) | |
Impairment write-downs | (116) | (33) | |
Realized net gains from sale | 163 | 274 | |
Total net gains recognized during the period | 614 | 659 | |
Measurement Alternative Cumulative Gains (Losses) | |||
Cumulative gross unrealized gains due to observable price changes | 973 | 415 | |
Cumulative gross unrealized losses due to observable price changes | (42) | (25) | |
Cumulative impairment write-downs | $ (134) | $ (33) |
Premises, Equipment and Other_3
Premises, Equipment and Other Assets Premises and Equipment (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Property, Plant and Equipment [Line Items] | |||
Total premises and equipment | $ 21,175 | $ 20,089 | |
Accumulated depreciation and amortization | 11,866 | 11,169 | |
Net book value, premises and equipment | 9,309 | 8,920 | |
Premises, Equipment and Other Assets Textual [Abstract] | |||
Depreciation and amortization expense for premises and equipment | 1,400 | 1,300 | $ 1,200 |
Net gain (loss) on disposition of premises and equipment | 82 | 32 | $ 128 |
Land [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total premises and equipment | 1,857 | 1,757 | |
Buildings [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total premises and equipment | 9,499 | 8,974 | |
Furniture and equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total premises and equipment | 7,189 | 6,896 | |
Leasehold improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total premises and equipment | 2,597 | 2,387 | |
Finance lease ROU assets [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total premises and equipment | $ 33 | $ 75 |
Premises, Equipment and Other_4
Premises, Equipment and Other Assets Other Assets (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Components of Other Assets [Line Items] | ||
Corporate/bank-owned life insurance | $ 20,070 | $ 19,751 |
Accounts receivable | 29,137 | 34,281 |
Interest receivable | 5,586 | 6,084 |
Customer relationship and other amortized intangibles | 1,853 | 1,988 |
Other foreclosed assets | 81 | 134 |
Operating lease ROU assets (lessee) | 4,724 | 0 |
Due from customers on acceptances | 253 | 258 |
Other | 10,200 | 9,444 |
Total other assets | 78,917 | 79,850 |
Assets leased to others [Member] | ||
Components of Other Assets [Line Items] | ||
Other | 8,221 | 9,036 |
Non-government insured/guaranteed [Member] | ||
Components of Other Assets [Line Items] | ||
Residential real estate | 172 | 229 |
Government insured or guaranteed [Member] | ||
Components of Other Assets [Line Items] | ||
Residential real estate | 50 | 88 |
Customer relationship and other intangibles [Member] | ||
Components of Other Assets [Line Items] | ||
Customer relationship and other amortized intangibles | $ 423 | $ 545 |
Securitizations and Variable _3
Securitizations and Variable Interest Entities, Balance Sheet Transactions with VIEs (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Variable Interest Entity [Line Items] | |||||
Cash and due from banks | $ 21,757 | $ 23,551 | |||
Interest-earning deposits with banks | 119,493 | 149,736 | |||
Trading debt securities | 79,733 | 69,989 | |||
Available-for-sale, at fair value | 263,459 | 269,912 | |||
Held-to-maturity debt securities | 153,933 | 144,788 | |||
Loans | 962,265 | 953,110 | $ 956,770 | $ 967,604 | $ 916,559 |
Derivative assets | 14,203 | 10,770 | |||
Equity securities | 68,241 | 55,148 | |||
Other assets | 78,917 | 79,850 | |||
Total assets | 1,927,555 | 1,895,883 | |||
Short-term borrowings | 104,512 | 105,787 | $ 103,256 | ||
Derivative liabilities | 9,079 | 8,499 | |||
Accrued expenses and other liabilities | 75,163 | 69,317 | |||
Long-term debt | 228,191 | 229,044 | |||
Total liabilities | 1,739,571 | 1,698,817 | |||
Noncontrolling interests | 838 | 900 | |||
VIEs that we do not consolidate [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Cash and due from banks | 0 | 0 | |||
Interest-earning deposits with banks | 0 | 0 | |||
Trading debt securities | 792 | 2,110 | |||
Available-for-sale, at fair value | 1,696 | 2,686 | |||
Held-to-maturity debt securities | 791 | 510 | |||
Loans | 2,127 | 2,657 | |||
Mortgage servicing rights | 11,884 | 14,761 | |||
Derivative assets | 142 | 53 | |||
Equity securities | 11,401 | 11,041 | |||
Other assets | 1,268 | 0 | |||
Total assets | 30,101 | 33,818 | |||
Short-term borrowings | 0 | 0 | |||
Derivative liabilities | 1 | 26 | |||
Accrued expenses and other liabilities | 189 | 231 | |||
Long-term debt | 4,817 | 5,094 | |||
Total liabilities | 5,007 | 5,351 | |||
Noncontrolling interests | 0 | 0 | |||
Net assets | 25,094 | 28,467 | |||
VIEs that we consolidate [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Cash and due from banks | 16 | 139 | |||
Interest-earning deposits with banks | 284 | 8 | |||
Trading debt securities | 339 | 245 | |||
Available-for-sale, at fair value | 201 | 317 | |||
Held-to-maturity debt securities | 0 | 0 | |||
Loans | 13,170 | 13,564 | |||
Mortgage servicing rights | 0 | 0 | |||
Derivative assets | 1 | 0 | |||
Equity securities | 118 | 85 | |||
Other assets | 239 | 227 | |||
Total assets | 14,368 | 14,585 | |||
Short-term borrowings | 401 | 493 | |||
Derivative liabilities | 3 | 0 | |||
Accrued expenses and other liabilities | 235 | 199 | |||
Long-term debt | 587 | 816 | |||
Total liabilities | 1,226 | 1,508 | |||
Noncontrolling interests | 43 | 34 | |||
Net assets | 13,099 | 13,043 | |||
Transfers that we account for as secured borrowings [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Cash and due from banks | 0 | 0 | |||
Interest-earning deposits with banks | 0 | 0 | |||
Trading debt securities | 0 | 0 | |||
Available-for-sale, at fair value | 0 | 0 | |||
Held-to-maturity debt securities | 0 | 0 | |||
Loans | 80 | 94 | |||
Mortgage servicing rights | 0 | 0 | |||
Derivative assets | 0 | 0 | |||
Equity securities | 0 | 0 | |||
Other assets | 0 | 0 | |||
Total assets | 80 | 94 | |||
Short-term borrowings | 0 | 0 | |||
Derivative liabilities | 0 | 0 | |||
Accrued expenses and other liabilities | 0 | 0 | |||
Long-term debt | 79 | 93 | |||
Total liabilities | 79 | 93 | |||
Noncontrolling interests | 0 | 0 | |||
Net assets | 1 | 1 | |||
Total VIEs and Transfers that we account for as secured borrowings [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Cash and due from banks | 16 | 139 | |||
Interest-earning deposits with banks | 284 | 8 | |||
Trading debt securities | 1,131 | 2,355 | |||
Available-for-sale, at fair value | 1,897 | 3,003 | |||
Held-to-maturity debt securities | 791 | 510 | |||
Loans | 15,377 | 16,315 | |||
Mortgage servicing rights | 11,884 | 14,761 | |||
Derivative assets | 143 | 53 | |||
Equity securities | 11,519 | 11,126 | |||
Other assets | 1,507 | 227 | |||
Total assets | 44,549 | 48,497 | |||
Short-term borrowings | 401 | 493 | |||
Derivative liabilities | 4 | 26 | |||
Accrued expenses and other liabilities | 424 | 430 | |||
Long-term debt | 5,483 | 6,003 | |||
Total liabilities | 6,312 | 6,952 | |||
Noncontrolling interests | 43 | 34 | |||
Net assets | $ 38,194 | $ 41,511 |
Securitizations and Variable _4
Securitizations and Variable Interest Entities, Unconsolidated VIEs (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Securitizations and Variable Interest Entities Textual [Abstract] | ||
Carrying value of delinquent loans eligible for repurchase | $ 556 | $ 1,200 |
Principal amount that would be payable to securitization vehicles | 556 | 1,200 |
VIEs that we do not consolidate [Member] | ||
Variable Interest Entity [Line Items] | ||
Total VIE assets | 1,314,630 | 1,374,802 |
Carrying value – asset (liability) | 25,094 | 28,467 |
Maximum exposure to loss | 44,099 | 47,034 |
VIEs that we do not consolidate [Member] | Equity Interests [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | 11,400 | 11,000 |
VIEs that we do not consolidate [Member] | Conforming residential mortgage loan securitization [Member] | ||
Variable Interest Entity [Line Items] | ||
Total VIE assets | 1,098,103 | 1,172,833 |
Carrying value – asset (liability) | 12,776 | 16,017 |
Maximum exposure to loss | 13,840 | 17,371 |
VIEs that we do not consolidate [Member] | Other/nonconforming residential mortgage loan securitization [Member] | ||
Variable Interest Entity [Line Items] | ||
Total VIE assets | 5,178 | 10,596 |
Carrying value – asset (liability) | 158 | 510 |
Maximum exposure to loss | 158 | 510 |
VIEs that we do not consolidate [Member] | Commercial mortgage loan securitizations [Member] | ||
Variable Interest Entity [Line Items] | ||
Total VIE assets | 169,736 | 153,350 |
Carrying value – asset (liability) | 3,345 | 3,240 |
Maximum exposure to loss | 15,055 | 14,893 |
VIEs that we do not consolidate [Member] | Tax credit structures [Member] | ||
Variable Interest Entity [Line Items] | ||
Total VIE assets | 39,091 | 35,185 |
Carrying value – asset (liability) | 8,566 | 8,217 |
Maximum exposure to loss | 14,527 | 13,507 |
VIEs that we do not consolidate [Member] | Other asset-based finance structures [Member] | ||
Variable Interest Entity [Line Items] | ||
Total VIE assets | 1,355 | 1,520 |
Carrying value – asset (liability) | 198 | 300 |
Maximum exposure to loss | 311 | 412 |
VIEs that we do not consolidate [Member] | Other [Member] | ||
Variable Interest Entity [Line Items] | ||
Total VIE assets | 1,167 | 1,318 |
Carrying value – asset (liability) | 51 | 183 |
Maximum exposure to loss | 208 | 341 |
VIEs that we do not consolidate [Member] | Debt and equity interests [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | 16,807 | 19,004 |
Maximum exposure to loss | 16,251 | 17,780 |
VIEs that we do not consolidate [Member] | Debt and equity interests [Member] | Conforming residential mortgage loan securitization [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | 1,528 | 3,601 |
Maximum exposure to loss | 972 | 2,377 |
VIEs that we do not consolidate [Member] | Debt and equity interests [Member] | Other/nonconforming residential mortgage loan securitization [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | 6 | 453 |
Maximum exposure to loss | 6 | 453 |
VIEs that we do not consolidate [Member] | Debt and equity interests [Member] | Commercial mortgage loan securitizations [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | 2,239 | 2,409 |
Maximum exposure to loss | 2,239 | 2,409 |
VIEs that we do not consolidate [Member] | Debt and equity interests [Member] | Tax credit structures [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | 12,826 | 12,087 |
Maximum exposure to loss | 12,826 | 12,087 |
VIEs that we do not consolidate [Member] | Debt and equity interests [Member] | Other asset-based finance structures [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | 157 | 271 |
Maximum exposure to loss | 157 | 271 |
VIEs that we do not consolidate [Member] | Debt and equity interests [Member] | Other [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | 51 | 183 |
Maximum exposure to loss | 51 | 183 |
VIEs that we do not consolidate [Member] | Servicing assets and advances [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | 13,152 | 14,761 |
Maximum exposure to loss | 13,152 | 14,761 |
VIEs that we do not consolidate [Member] | Servicing assets and advances [Member] | Conforming residential mortgage loan securitization [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | 11,931 | 13,811 |
Maximum exposure to loss | 11,931 | 13,811 |
VIEs that we do not consolidate [Member] | Servicing assets and advances [Member] | Other/nonconforming residential mortgage loan securitization [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | 152 | 57 |
Maximum exposure to loss | 152 | 57 |
VIEs that we do not consolidate [Member] | Servicing assets and advances [Member] | Commercial mortgage loan securitizations [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | 1,069 | 893 |
Maximum exposure to loss | 1,069 | 893 |
VIEs that we do not consolidate [Member] | Servicing assets and advances [Member] | Tax credit structures [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | 0 | 0 |
Maximum exposure to loss | 0 | 0 |
VIEs that we do not consolidate [Member] | Servicing assets and advances [Member] | Other asset-based finance structures [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | 0 | 0 |
Maximum exposure to loss | 0 | 0 |
VIEs that we do not consolidate [Member] | Servicing assets and advances [Member] | Other [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | 0 | 0 |
Maximum exposure to loss | 0 | 0 |
VIEs that we do not consolidate [Member] | Derivatives [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | 141 | 27 |
Maximum exposure to loss | 143 | 78 |
VIEs that we do not consolidate [Member] | Derivatives [Member] | Conforming residential mortgage loan securitization [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | 0 | 0 |
Maximum exposure to loss | 0 | 0 |
VIEs that we do not consolidate [Member] | Derivatives [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 |
VIEs that we do not consolidate [Member] | Derivatives [Member] | Commercial mortgage loan securitizations [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | 80 | (22) |
Maximum exposure to loss | 80 | 28 |
VIEs that we do not consolidate [Member] | Derivatives [Member] | Tax credit structures [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | 0 | 0 |
Maximum exposure to loss | 0 | 0 |
VIEs that we do not consolidate [Member] | Derivatives [Member] | Other asset-based finance structures [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | 61 | 49 |
Maximum exposure to loss | 63 | 50 |
VIEs that we do not consolidate [Member] | Derivatives [Member] | Other [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | 0 | 0 |
Maximum exposure to loss | 0 | 0 |
VIEs that we do not consolidate [Member] | Debt, guarantees and other commitments [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | (5,006) | (5,325) |
Maximum exposure to loss | 14,553 | 14,415 |
VIEs that we do not consolidate [Member] | Debt, guarantees and other commitments [Member] | Conforming residential mortgage loan securitization [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | (683) | (1,395) |
Maximum exposure to loss | 937 | 1,183 |
VIEs that we do not consolidate [Member] | Debt, guarantees and other commitments [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 |
VIEs that we do not consolidate [Member] | Debt, guarantees and other commitments [Member] | Commercial mortgage loan securitizations [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | (43) | (40) |
Maximum exposure to loss | 11,667 | 11,563 |
VIEs that we do not consolidate [Member] | Debt, guarantees and other commitments [Member] | Tax credit structures [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | (4,260) | (3,870) |
Maximum exposure to loss | 1,701 | 1,420 |
VIEs that we do not consolidate [Member] | Debt, guarantees and other commitments [Member] | Other asset-based finance structures [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | (20) | (20) |
Maximum exposure to loss | 91 | 91 |
VIEs that we do not consolidate [Member] | Debt, guarantees and other commitments [Member] | Other [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying value – asset (liability) | 0 | 0 |
Maximum exposure to loss | $ 157 | $ 158 |
Securitizations and Variable _5
Securitizations and Variable Interest Entities, Transfers with Continuing Involvement (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Residential mortgages [Member] | |||
Quantitative Information, Transferor's Continuing Involvement [Line Items] | |||
Net gains (losses) on sale | $ 89 | $ (10) | $ 342 |
Asset balances sold | 170,384 | 177,805 | 213,562 |
Residential mortgages [Member] | Fair value, inputs, level 3 [Member] | |||
Quantitative Information, Transferor's Continuing Involvement [Line Items] | |||
Servicing rights recognized | 1,896 | 1,903 | 2,122 |
Liability for repurchase losses recognized | 18 | 17 | 24 |
Residential mortgages [Member] | Fair value, inputs, level 2 [Member] | |||
Quantitative Information, Transferor's Continuing Involvement [Line Items] | |||
Securities recognized | 2,747 | 5,030 | 1,414 |
Commercial mortgages [Member] | |||
Quantitative Information, Transferor's Continuing Involvement [Line Items] | |||
Net gains (losses) on sale | 330 | 280 | 359 |
Asset balances sold | 18,191 | 17,882 | 16,696 |
Commercial mortgages [Member] | Fair value, inputs, level 3 [Member] | |||
Quantitative Information, Transferor's Continuing Involvement [Line Items] | |||
Servicing rights recognized | 161 | 158 | 166 |
Liability for repurchase losses recognized | 0 | 0 | 0 |
Commercial mortgages [Member] | Fair value, inputs, level 2 [Member] | |||
Quantitative Information, Transferor's Continuing Involvement [Line Items] | |||
Securities recognized | $ 51 | $ 81 | $ 65 |
Securitizations and Variable _6
Securitizations and Variable Interest Entities, Residential Mortgage Servicing Rights (Details) - Residential mortgage servicing rights [Member] - $ / loan | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Fair Value Assumption, Date of Securitization or Asset-backed Financing Arrangement, Transferor's Continuing Involvement, Servicing Assets or Liabilities [Line Items] | |||
Prepayment speed | 12.80% | 10.60% | 11.50% |
Discount rate | 7.50% | 7.40% | 7.00% |
Cost to service ($ per loan) | 101 | 128 | 132 |
Securitizations and Variable _7
Securitizations and Variable Interest Entities, Cash Inflows (Outflows) From Sales and Securitization Activity (Details) - Mortgage loans [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash Flow Securitizations [Abstract] | |||
Proceeds from securitizations and whole loan sales | $ 186,615 | $ 193,721 | $ 228,282 |
Fees from servicing rights retained | 3,149 | 3,337 | 3,352 |
Cash flows from other interests held | 468 | 698 | 2,218 |
Servicing advances, net of repayments | 187 | 154 | 269 |
Government insured loans [Member] | |||
Cash Flow Securitizations [Abstract] | |||
Repurchases of assets/loss reimbursements | (6,168) | (7,775) | (8,600) |
Agency securitizations [Member] | |||
Cash Flow Securitizations [Abstract] | |||
Repurchases of assets/loss reimbursements | (95) | (96) | (92) |
Non-agency securitizations and whole loan transactions [Member] | |||
Cash Flow Securitizations [Abstract] | |||
Repurchases of assets/loss reimbursements | $ (4,441) | $ (3) | $ (12) |
Securitizations and Variable _8
Securitizations and Variable Interest Entities, Retained Interests from Unconsolidated VIEs (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2019USD ($)$ / loan | Dec. 31, 2018USD ($)$ / loan | |
Commercial mortgage servicing [Member] | ||
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | ||
Fair value of interests held | $ 1,900 | $ 2,300 |
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 | $ 205 | $ 320 |
Residential mortgage servicing rights [Member] | ||
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | ||
Fair value of interests held | $ 11,517 | $ 14,649 |
Expected weighted-average life (in years) | 5 years 3 months 18 days | 6 years 6 months |
Key economic assumptions: | ||
Prepayment speed assumption | 11.90% | 9.90% |
Decrease in fair value from: | ||
10% adverse change | $ 537 | $ 530 |
25% adverse change | $ 1,261 | $ 1,301 |
Discount rate assumption | 7.20% | 8.10% |
Decrease in fair value from: | ||
100 basis point increase | $ 464 | $ 615 |
200 basis point increase | $ 889 | $ 1,176 |
Cost to service assumption ($ per loan) | $ / loan | 102 | 106 |
Decrease in fair value from: | ||
10% adverse change | $ 253 | $ 316 |
25% adverse change | 632 | 787 |
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 | $ 2 | $ 16 |
Expected weighted-average life (in years) | 3 years 1 month 6 days | 3 years 7 months 6 days |
Key economic assumptions: | ||
Prepayment speed assumption | 19.50% | 17.70% |
Decrease in fair value from: | ||
10% adverse change | $ 0 | $ 1 |
25% adverse change | $ 0 | $ 1 |
Discount rate assumption | 12.80% | 14.50% |
Decrease in fair value from: | ||
100 basis point increase | $ 0 | $ 0 |
200 basis point increase | 0 | 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 | $ 909 | $ 668 |
Expected weighted-average life (in years) | 7 years 3 months 18 days | 7 years |
Decrease in fair value from: | ||
Discount rate assumption | 4.00% | 4.30% |
Decrease in fair value from: | ||
100 basis point increase | $ 53 | $ 37 |
200 basis point increase | $ 103 | $ 72 |
Decrease in fair value from: | ||
Credit loss assumption | 3.10% | 5.10% |
Decrease in fair value from: | ||
10% higher losses | $ 1 | $ 2 |
25% higher losses | 4 | 5 |
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 | $ 352 | $ 309 |
Expected weighted-average life (in years) | 5 years 6 months | 5 years 8 months 12 days |
Decrease in fair value from: | ||
Discount rate assumption | 2.90% | 3.70% |
Decrease in fair value from: | ||
100 basis point increase | $ 16 | $ 14 |
200 basis point increase | $ 32 | $ 28 |
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 |
Securitizations and Variable _9
Securitizations and Variable Interest Entities, Off-Balance Sheet Loans Sold or Securitized (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | ||
Total loans | $ 1,120,966 | $ 1,202,301 |
Delinquent loans and foreclosed assets | 7,442 | 9,955 |
Net charge-offs (3) | 408 | 1,205 |
Government insured or guaranteed [Member] | ||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | ||
Total loans | 1,000,000 | 1,100,000 |
Securitizations and Variable Interest Entities Textual [Abstract] | ||
Delinquent loans | 5,200 | 6,400 |
Foreclosed assets | 251 | 442 |
Total Commercial [Member] | ||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | ||
Total loans | 112,507 | 105,173 |
Delinquent loans and foreclosed assets | 776 | 1,008 |
Net charge-offs (3) | 179 | 739 |
Commercial real estate mortgage [Member] | ||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | ||
Total loans | 112,507 | 105,173 |
Delinquent loans and foreclosed assets | 776 | 1,008 |
Net charge-offs (3) | 179 | 739 |
Securitizations and Variable Interest Entities Textual [Abstract] | ||
Foreclosed assets | 492 | 675 |
Total Consumer [Member] | ||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | ||
Total loans | 1,008,459 | 1,097,128 |
Delinquent loans and foreclosed assets | 6,666 | 8,947 |
Net charge-offs (3) | 229 | 466 |
Residential mortgage [Member] | ||
Securitizations and Variable Interest Entities Textual [Abstract] | ||
Foreclosed assets | 356 | 582 |
Real estate 1-4 family first mortgage [Member] | ||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | ||
Total loans | 1,008,446 | 1,097,128 |
Delinquent loans and foreclosed assets | 6,664 | 8,947 |
Net charge-offs (3) | 229 | 466 |
Real estate 1-4 family junior lien mortgage [Member] | ||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | ||
Total loans | 13 | 0 |
Delinquent loans and foreclosed assets | 2 | 0 |
Net charge-offs (3) | $ 0 | $ 0 |
Securitizations and Variable_10
Securitizations and Variable Interest Entities, Transactions with Consolidated VIEs and Secured Borrowings (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Variable Interest Entity [Line Items] | |||
Assets | $ 1,927,555 | $ 1,895,883 | |
Liabilities | (1,739,571) | (1,698,817) | |
Noncontrolling interests | (838) | (900) | |
VIEs that we do not consolidate [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 30,101 | 33,818 | |
Liabilities | (5,007) | (5,351) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 25,094 | 28,467 | |
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 | 40 | 45 | $ 53 |
Total secured borrowings [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 81 | 95 | |
Assets | 80 | 94 | |
Liabilities | (79) | (93) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 1 | 1 | |
Total secured borrowings [Member] | Residential mortgage securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 81 | 95 | |
Total secured borrowings [Member] | Carrying value [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 80 | 94 | |
Liabilities | (79) | (93) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 1 | 1 | |
Total secured borrowings [Member] | Carrying value [Member] | Residential mortgage securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 80 | 94 | |
Liabilities | (79) | (93) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 1 | 1 | |
Consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 14,505 | 14,915 | |
Assets | 14,368 | 14,585 | |
Liabilities | (1,226) | (1,508) | |
Noncontrolling interests | (43) | (34) | |
Net assets | 13,099 | 13,043 | |
Consolidated VIEs [Member] | Municipal tender option bond securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 401 | 627 | |
Consolidated VIEs [Member] | Commercial and industrial loans and leases [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 8,054 | 8,215 | |
Consolidated VIEs [Member] | Nonconforming residential mortgage loan securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 935 | 1,947 | |
Consolidated VIEs [Member] | Commercial real estate loans [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 4,836 | 3,957 | |
Consolidated VIEs [Member] | Other [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 279 | 169 | |
Consolidated VIEs [Member] | Carrying value [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 14,368 | 14,585 | |
Liabilities | (1,226) | (1,508) | |
Noncontrolling interests | (43) | (34) | |
Net assets | 13,099 | 13,043 | |
Consolidated VIEs [Member] | Carrying value [Member] | Municipal tender option bond securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 402 | 523 | |
Liabilities | (401) | (501) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 1 | 22 | |
Consolidated VIEs [Member] | Carrying value [Member] | Commercial and industrial loans and leases [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 8,042 | 8,204 | |
Liabilities | (529) | (477) | |
Noncontrolling interests | (16) | (14) | |
Net assets | 7,497 | 7,713 | |
Consolidated VIEs [Member] | Carrying value [Member] | Nonconforming residential mortgage loan securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 809 | 1,732 | |
Liabilities | (290) | (521) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 519 | 1,211 | |
Consolidated VIEs [Member] | Carrying value [Member] | Commercial real estate loans [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 4,836 | 3,957 | |
Liabilities | 0 | 0 | |
Noncontrolling interests | 0 | 0 | |
Net assets | 4,836 | 3,957 | |
Consolidated VIEs [Member] | Carrying value [Member] | Other [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 279 | 169 | |
Liabilities | (6) | (9) | |
Noncontrolling interests | (27) | (20) | |
Net assets | 246 | 140 | |
Total secured borrowings and consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 14,586 | 15,010 | |
Total secured borrowings and consolidated VIEs [Member] | Carrying value [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 14,448 | 14,679 | |
Liabilities | (1,305) | (1,601) | |
Noncontrolling interests | (43) | (34) | |
Net assets | 13,100 | 13,044 | |
Revolving master trust entity [Member] | Commercial and industrial loans and leases [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 6,500 | 6,700 | |
Liabilities | $ (300) | $ (299) |
Mortgage Banking Activities, An
Mortgage Banking Activities, Analysis of Changes in Fair Value MSRs (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Changes in MSRs measured at fair value | |||
Fair value, beginning of year | $ 14,649 | ||
Changes in fair value: | |||
Net changes in valuation model inputs or assumptions | (2,569) | $ 960 | $ (126) |
Changes due to collection/realization of expected cash flows over time | (2,210) | (1,875) | (1,989) |
Total changes in fair value | (4,779) | (915) | (2,115) |
Fair value, end of year | 11,517 | 14,649 | |
Carried at fair value [Member] | |||
Changes in MSRs measured at fair value | |||
Fair value, beginning of year | 14,649 | 13,625 | 12,959 |
Purchases | 0 | 0 | 541 |
Servicing from securitizations or asset transfers | 1,933 | 2,010 | 2,263 |
Sales and other (2) | (286) | (71) | (23) |
Net additions | 1,647 | 1,939 | 2,781 |
Changes in fair value: | |||
Net changes in valuation model inputs or assumptions | (2,569) | 960 | (126) |
Changes due to collection/realization of expected cash flows over time | (2,210) | (1,875) | (1,989) |
Total changes in fair value | (4,779) | (915) | (2,115) |
Fair value, end of year | 11,517 | 14,649 | 13,625 |
Carried at fair value [Member] | Mortgage interest rates [Member] | |||
Changes in fair value: | |||
Net changes in valuation model inputs or assumptions | (2,406) | 1,337 | (103) |
Carried at fair value [Member] | Servicing and foreclosure costs [Member] | |||
Changes in fair value: | |||
Net changes in valuation model inputs or assumptions | 48 | 818 | 96 |
Carried at fair value [Member] | Discount rates [Member] | |||
Changes in fair value: | |||
Net changes in valuation model inputs or assumptions | 145 | (830) | 13 |
Carried at fair value [Member] | Prepayment estimates and other [Member] | |||
Changes in fair value: | |||
Net changes in valuation model inputs or assumptions | $ (356) | $ (365) | $ (132) |
Mortgage Banking Activities, _2
Mortgage Banking Activities, Analysis of Changes in Amortized MSRs (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Changes in amortized MSRs | |||
Amortization | $ (274) | $ (266) | $ (263) |
Amortized [Member] | |||
Changes in amortized MSRs | |||
Balance, beginning of year | 1,443 | 1,424 | 1,406 |
Purchases | 100 | 127 | 115 |
Servicing from securitizations or asset transfers | 161 | 158 | 166 |
Amortization | (274) | (266) | (263) |
Balance, end of year | 1,430 | 1,443 | 1,424 |
Fair value of amortized MSRs: | |||
Beginning of year | 2,288 | 2,025 | 1,956 |
End of year | 1,872 | 2,288 | 2,025 |
Commercial mortgage servicing [Member] | Amortized [Member] | |||
Mortgage Banking Activities Textual [Abstract] | |||
Valuation allowance | $ 0 | $ 0 | $ 0 |
Mortgage Banking Activities, Ma
Mortgage Banking Activities, Managed Servicing Portfolio (Details) - USD ($) $ in Billions | Dec. 31, 2019 | Dec. 31, 2018 |
Components of Managed Servicing Portfolio [Abstract] | ||
Serviced for others | $ 1,629 | $ 1,707 |
Total managed servicing portfolio | $ 2,107 | $ 2,175 |
Ratio of MSRs to related loans serviced for others | 0.79% | 0.94% |
Residential mortgage servicing rights [Member] | ||
Components of Managed Servicing Portfolio [Abstract] | ||
Serviced for others | $ 1,063 | $ 1,164 |
Owned loans serviced (1) | 343 | 334 |
Subserviced for others | 2 | 4 |
Total managed servicing portfolio | 1,408 | 1,502 |
Commercial mortgage servicing [Member] | ||
Components of Managed Servicing Portfolio [Abstract] | ||
Serviced for others | 566 | 543 |
Owned loans serviced (1) | 124 | 121 |
Subserviced for others | 9 | 9 |
Total managed servicing portfolio | $ 699 | $ 673 |
Mortgage Banking Activities, Mo
Mortgage Banking Activities, Mortgage Banking Noninterest Income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Servicing fees: | |||
Contractually specified servicing fees | $ 3,388 | $ 3,613 | $ 3,603 |
Late charges | 129 | 162 | 172 |
Ancillary fees | 143 | 182 | 199 |
Unreimbursed direct servicing costs | (403) | (331) | (582) |
Net servicing fees | 3,257 | 3,626 | 3,392 |
Changes in fair value of MSRs carried at fair value: | |||
Due to changes in valuation model inputs or assumptions | (2,569) | 960 | (126) |
Changes due to collection/realization of expected cash flows over time | (2,210) | (1,875) | (1,989) |
Total changes in fair value of MSRs carried at fair value | (4,779) | (915) | (2,115) |
Amortization | (274) | (266) | (263) |
Net derivative gains (losses) from economic hedges | 2,318 | (1,072) | 413 |
Total servicing income, net | 522 | 1,373 | 1,427 |
Net gains on mortgage loan origination/sales activities (5) | 2,193 | 1,644 | 2,923 |
Total mortgage banking noninterest income | 2,715 | 3,017 | 4,350 |
Market-related valuation changes to MSRs, net of hedge results | (251) | (112) | 287 |
Net derivative gains (losses) from economic hedges related to mortgage loans held for sale and derivative loan commitments | $ (141) | $ 857 | $ 35 |
Intangible Assets (Details)
Intangible Assets (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Amortized intangible assets: | |||
Gross carrying value | $ 5,369 | $ 20,989 | |
Accumulated amortization | (3,516) | (19,001) | |
Net carrying value | 1,853 | 1,988 | |
Unamortized intangible assets: | |||
Mortgage servicing rights | 11,517 | 14,649 | |
Goodwill | 26,390 | 26,418 | $ 26,587 |
Trademark | 14 | 14 | |
MSRs [Member] | |||
Amortized intangible assets: | |||
Gross carrying value | 4,422 | 4,161 | |
Accumulated amortization | (2,992) | (2,718) | |
Net carrying value | 1,430 | 1,443 | |
Core deposit intangibles [Member] | |||
Amortized intangible assets: | |||
Gross carrying value | 0 | 12,834 | |
Accumulated amortization | 0 | (12,834) | |
Net carrying value | 0 | 0 | |
Customer relationship and other intangibles [Member] | |||
Amortized intangible assets: | |||
Gross carrying value | 947 | 3,994 | |
Accumulated amortization | (524) | (3,449) | |
Net carrying value | $ 423 | $ 545 |
Intangible Assets, Amortization
Intangible Assets, Amortization Expense (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | |||
Year ended December 31, 2019 (actual) | $ 108 | $ 1,058 | $ 1,152 |
Estimate for year ended December 31, | |||
2020 | 358 | ||
2021 | 308 | ||
2022 | 271 | ||
2023 | 235 | ||
2024 | 200 | ||
Finite lived intangible assets [Member] | |||
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | |||
Year ended December 31, 2019 (actual) | 388 | ||
MSRs [Member] | |||
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | |||
Year ended December 31, 2019 (actual) | 274 | ||
Estimate for year ended December 31, | |||
2020 | 263 | ||
2021 | 227 | ||
2022 | 203 | ||
2023 | 176 | ||
2024 | 152 | ||
Customer relationship and other intangibles [Member] | |||
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | |||
Year ended December 31, 2019 (actual) | 114 | ||
Estimate for year ended December 31, | |||
2020 | 95 | ||
2021 | 81 | ||
2022 | 68 | ||
2023 | 59 | ||
2024 | $ 48 |
Intangible Assets, Allocation o
Intangible Assets, Allocation of Goodwill to Operating Segments (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Goodwill [Roll Forward] | |||
Goodwill, beginning balance | $ 26,418 | $ 26,587 | |
Reduction in goodwill related to divested businesses and foreign currency translation | (28) | (169) | |
Goodwill, ending balance | 26,390 | 26,418 | |
Goodwill classified as held-for-sale in other assets | 0 | 0 | $ 13 |
Goodwill impairment | $ 0 | 0 | |
Minimum [Member] | |||
Goodwill [Roll Forward] | |||
Reporting unit, percentage of fair value in excess of carrying amount | 6.00% | ||
Maximum [Member] | |||
Goodwill [Roll Forward] | |||
Reporting unit, percentage of fair value in excess of carrying amount | 425.00% | ||
Community Banking [Member] | |||
Goodwill [Roll Forward] | |||
Goodwill, beginning balance | $ 16,685 | 16,849 | |
Reduction in goodwill related to divested businesses and foreign currency translation | 0 | (164) | |
Goodwill, ending balance | 16,685 | 16,685 | |
Wholesale Banking [Member] | |||
Goodwill [Roll Forward] | |||
Goodwill, beginning balance | 8,450 | 8,455 | |
Reduction in goodwill related to divested businesses and foreign currency translation | (21) | (5) | |
Goodwill, ending balance | 8,429 | 8,450 | |
Wealth and Investment Management [Member] | |||
Goodwill [Roll Forward] | |||
Goodwill, beginning balance | 1,283 | 1,283 | |
Reduction in goodwill related to divested businesses and foreign currency translation | (7) | 0 | |
Goodwill, ending balance | $ 1,276 | $ 1,283 |
Deposits (Details)
Deposits (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Time Deposits [Line Items] | ||
Time certificates of deposit and other time deposits issued by domestic and foreign offices | $ 118,849 | $ 130,600 |
Time Deposits, Fiscal Year Maturity [Abstract] | ||
2020 | 88,259 | |
2021 | 15,429 | |
2022 | 6,055 | |
2023 | 4,130 | |
2024 | 1,906 | |
Thereafter | 3,070 | |
Total | 118,849 | 130,600 |
Deposits (Textuals) [Abstract] | ||
Demand deposit overdrafts as loan balances | 542 | 624 |
Domestic [Member] | ||
Time Deposits [Line Items] | ||
Time Deposits, $100,000 or More | 43,732 | 42,500 |
Time Deposits, $250,000 or more | 34,600 | 37,100 |
Contractual Maturities, Time Deposits, $100,000 or More [Abstract] | ||
Three months or less | 18,759 | |
After three months through six months | 10,583 | |
After six months through twelve months | 11,766 | |
After twelve months | 2,624 | |
Non-U.S. [Member] | ||
Time Deposits [Line Items] | ||
Time Deposits, $100,000 or More | 4,000 | 4,600 |
Time Deposits, $250,000 or more | $ 4,000 | $ 4,600 |
Short-Term Borrowings (Details)
Short-Term Borrowings (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Short-term Debt [Line Items] | |||
Short-term borrowings maturity period (less than 30 days) | 30 days | 30 days | 30 days |
Short-term borrowings | $ 104,512 | $ 105,787 | $ 103,256 |
Short-term Borrowings, Rate | 1.43% | 2.52% | 1.22% |
Short-term Debt average daily balance, Amount | $ 115,337 | $ 104,267 | $ 98,922 |
Short-term Debt average daily balance, Rate | 2.01% | 1.65% | 0.77% |
Federal Funds Purchased and Securities Sold under Agreements to Repurchase [Member] | |||
Short-term Debt [Line Items] | |||
Short-term borrowings | $ 92,403 | $ 92,430 | $ 88,684 |
Short-term Borrowings, Rate | 1.54% | 2.65% | 1.30% |
Short-term Debt average daily balance, Amount | $ 102,888 | $ 90,348 | $ 82,507 |
Short-term Debt average daily balance, Rate | 2.11% | 1.78% | 0.90% |
Maximum month-end balance, Amount | $ 111,726 | $ 93,918 | $ 91,604 |
Commercial Paper [Member] | |||
Short-term Debt [Line Items] | |||
Short-term borrowings | $ 0 | $ 0 | $ 0 |
Short-term Borrowings, Rate | 0.00% | 0.00% | 0.00% |
Short-term Debt average daily balance, Amount | $ 0 | $ 0 | $ 16 |
Short-term Debt average daily balance, Rate | 0.00% | 0.00% | 0.95% |
Maximum month-end balance, Amount | $ 0 | $ 0 | $ 78 |
Other Short-term Borrowings [Member] | |||
Short-term Debt [Line Items] | |||
Short-term borrowings | $ 12,109 | $ 13,357 | $ 14,572 |
Short-term Borrowings, Rate | 0.60% | 1.63% | 0.72% |
Short-term Debt average daily balance, Amount | $ 12,449 | $ 13,919 | $ 16,399 |
Short-term Debt average daily balance, Rate | 1.20% | 0.79% | 0.13% |
Maximum month-end balance, Amount | $ 14,129 | $ 16,924 | $ 19,439 |
Long-term Debt, Summary (Detail
Long-term Debt, Summary (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Debt Instrument [Line Items] | ||
Long-term debt | $ 228,191 | $ 229,044 |
VIEs that we consolidate [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | 587 | 816 |
Wells Fargo Bank, National Association and other bank entities [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | $ 72,524 | 91,399 |
Wells Fargo Bank, National Association and other bank entities [Member] | Fixed-rate notes [Member] | VIEs that we consolidate [Member] | ||
Debt Instrument [Line Items] | ||
Maturity date(s) start | Jan. 1, 2037 | |
Maturity date(s) end | Dec. 31, 2037 | |
Other long-term debt | $ 17 | 160 |
Wells Fargo Bank, National Association and other bank entities [Member] | Fixed-rate notes [Member] | VIEs that we consolidate [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 0.00% | |
Wells Fargo Bank, National Association and other bank entities [Member] | Fixed-rate notes [Member] | VIEs that we consolidate [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 6.00% | |
Wells Fargo Bank, National Association and other bank entities [Member] | Floating-rate notes [Member] | VIEs that we consolidate [Member] | ||
Debt Instrument [Line Items] | ||
Maturity date(s) start | Jan. 1, 2020 | |
Maturity date(s) end | Dec. 31, 2038 | |
Other long-term debt | $ 570 | 656 |
Wells Fargo Bank, National Association and other bank entities [Member] | Floating-rate notes [Member] | VIEs that we consolidate [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 2.38% | |
Wells Fargo Bank, National Association and other bank entities [Member] | Floating-rate notes [Member] | VIEs that we consolidate [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 4.62% | |
Wells Fargo Bank, National Association and other bank entities [Member] | Senior debt [Member] | ||
Debt Instrument [Line Items] | ||
Senior notes | $ 60,015 | 78,395 |
Long-term debt | $ 60,015 | |
Wells Fargo Bank, National Association and other bank entities [Member] | Senior debt [Member] | Fixed-rate notes [Member] | ||
Debt Instrument [Line Items] | ||
Maturity date(s) start | Jan. 1, 2020 | |
Maturity date(s) end | Dec. 31, 2023 | |
Senior notes | $ 9,364 | 14,222 |
Wells Fargo Bank, National Association and other bank entities [Member] | Senior debt [Member] | Fixed-rate notes [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 2.40% | |
Wells Fargo Bank, National Association and other bank entities [Member] | Senior debt [Member] | Fixed-rate notes [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 3.63% | |
Wells Fargo Bank, National Association and other bank entities [Member] | Senior debt [Member] | Floating-rate notes [Member] | ||
Debt Instrument [Line Items] | ||
Maturity date(s) start | Jan. 1, 2020 | |
Maturity date(s) end | Dec. 31, 2053 | |
Senior notes | $ 10,617 | 6,617 |
Wells Fargo Bank, National Association and other bank entities [Member] | Senior debt [Member] | Floating-rate notes [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 1.64% | |
Wells Fargo Bank, National Association and other bank entities [Member] | Senior debt [Member] | Floating-rate notes [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 2.55% | |
Wells Fargo Bank, National Association and other bank entities [Member] | Senior debt [Member] | FixFloat notes [Member] | ||
Debt Instrument [Line Items] | ||
Maturity date(s) start | Jan. 1, 2021 | |
Maturity date(s) end | Dec. 31, 2022 | |
Senior notes | $ 5,097 | 1,998 |
Wells Fargo Bank, National Association and other bank entities [Member] | Senior debt [Member] | FixFloat notes [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 2.08% | |
Wells Fargo Bank, National Association and other bank entities [Member] | Senior debt [Member] | FixFloat notes [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 3.33% | |
Wells Fargo Bank, National Association and other bank entities [Member] | Senior debt [Member] | Structured notes [Member] | ||
Debt Instrument [Line Items] | ||
Senior notes | $ 1,914 | 1,646 |
Wells Fargo Bank, National Association and other bank entities [Member] | Senior debt [Member] | Fixed-rate advances - Federal Home Loan Bank (FHLB) [Member] | ||
Debt Instrument [Line Items] | ||
Maturity date(s) start | Jan. 1, 2020 | |
Maturity date(s) end | Dec. 31, 2031 | |
Senior notes | $ 41 | 51 |
Wells Fargo Bank, National Association and other bank entities [Member] | Senior debt [Member] | Fixed-rate advances - Federal Home Loan Bank (FHLB) [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 3.83% | |
Wells Fargo Bank, National Association and other bank entities [Member] | Senior debt [Member] | Fixed-rate advances - Federal Home Loan Bank (FHLB) [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 7.50% | |
Wells Fargo Bank, National Association and other bank entities [Member] | Senior debt [Member] | Floating-rate advances - FHLB [Member] | ||
Debt Instrument [Line Items] | ||
Maturity date(s) start | Jan. 1, 2020 | |
Maturity date(s) end | Dec. 31, 2022 | |
Senior notes | $ 32,950 | 53,825 |
Wells Fargo Bank, National Association and other bank entities [Member] | Senior debt [Member] | Floating-rate advances - FHLB [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 1.83% | |
Wells Fargo Bank, National Association and other bank entities [Member] | Senior debt [Member] | Floating-rate advances - FHLB [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 2.31% | |
Wells Fargo Bank, National Association and other bank entities [Member] | Senior debt [Member] | Finance leases [Member] | ||
Debt Instrument [Line Items] | ||
Maturity date(s) start | Jan. 1, 2020 | |
Maturity date(s) end | Dec. 31, 2029 | |
Senior notes | $ 32 | 36 |
Wells Fargo Bank, National Association and other bank entities [Member] | Senior debt [Member] | Finance leases [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 1.69% | |
Wells Fargo Bank, National Association and other bank entities [Member] | Senior debt [Member] | Finance leases [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 17.78% | |
Wells Fargo Bank, National Association and other bank entities [Member] | Senior subordinated debt [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated notes | $ 5,374 | 5,199 |
Long-term debt | $ 5,374 | |
Wells Fargo Bank, National Association and other bank entities [Member] | Senior subordinated debt [Member] | Fixed-rate notes [Member] | ||
Debt Instrument [Line Items] | ||
Maturity date(s) start | Jan. 1, 2023 | |
Maturity date(s) end | Dec. 31, 2038 | |
Subordinated notes | $ 5,374 | 5,199 |
Wells Fargo Bank, National Association and other bank entities [Member] | Senior subordinated debt [Member] | Fixed-rate notes [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 5.25% | |
Wells Fargo Bank, National Association and other bank entities [Member] | Senior subordinated debt [Member] | Fixed-rate notes [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 7.74% | |
Wells Fargo Bank, National Association and other bank entities [Member] | Junior subordinated debt [Member] | ||
Debt Instrument [Line Items] | ||
Junior subordinated notes | $ 363 | 352 |
Long-term debt | $ 363 | |
Wells Fargo Bank, National Association and other bank entities [Member] | Junior subordinated debt [Member] | Floating-rate notes [Member] | ||
Debt Instrument [Line Items] | ||
Maturity date(s) start | Jan. 1, 2027 | |
Maturity date(s) end | Dec. 31, 2027 | |
Junior subordinated notes | $ 363 | 352 |
Wells Fargo Bank, National Association and other bank entities [Member] | Junior subordinated debt [Member] | Floating-rate notes [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 2.48% | |
Wells Fargo Bank, National Association and other bank entities [Member] | Junior subordinated debt [Member] | Floating-rate notes [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 2.65% | |
Wells Fargo Bank, National Association and other bank entities [Member] | Mortgage notes and other debt [Member] | ||
Debt Instrument [Line Items] | ||
Maturity date(s) start | Jan. 1, 2020 | |
Maturity date(s) end | Dec. 31, 2057 | |
Other long-term debt | $ 6,185 | 6,637 |
Wells Fargo Bank, National Association and other bank entities [Member] | Mortgage notes and other debt [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 0.00% | |
Wells Fargo Bank, National Association and other bank entities [Member] | Mortgage notes and other debt [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 9.20% | |
Other Consolidated Subsidiaries [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | $ 2,888 | 2,421 |
Other Consolidated Subsidiaries [Member] | Senior debt [Member] | ||
Debt Instrument [Line Items] | ||
Senior notes | 2,856 | 2,389 |
Long-term debt | $ 2,856 | |
Other Consolidated Subsidiaries [Member] | Senior debt [Member] | Fixed-rate notes [Member] | ||
Debt Instrument [Line Items] | ||
Maturity date(s) start | Jan. 1, 2021 | |
Maturity date(s) end | Dec. 31, 2023 | |
Senior notes | $ 1,352 | 2,383 |
Other Consolidated Subsidiaries [Member] | Senior debt [Member] | Fixed-rate notes [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 3.04% | |
Other Consolidated Subsidiaries [Member] | Senior debt [Member] | Fixed-rate notes [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 3.46% | |
Other Consolidated Subsidiaries [Member] | Senior debt [Member] | Structured notes [Member] | ||
Debt Instrument [Line Items] | ||
Senior notes | $ 1,503 | 6 |
Other Consolidated Subsidiaries [Member] | Senior debt [Member] | Finance leases [Member] | ||
Debt Instrument [Line Items] | ||
Maturity date(s) start | Jan. 1, 2020 | |
Maturity date(s) end | Dec. 31, 2020 | |
Senior notes | $ 1 | 0 |
Other Consolidated Subsidiaries [Member] | Senior debt [Member] | Finance leases [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 0.00% | |
Other Consolidated Subsidiaries [Member] | Senior debt [Member] | Finance leases [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 3.71% | |
Other Consolidated Subsidiaries [Member] | Mortgage notes and other debt [Member] | ||
Debt Instrument [Line Items] | ||
Maturity date(s) start | Jan. 1, 2026 | |
Maturity date(s) end | Dec. 31, 2026 | |
Other long-term debt | $ 32 | 32 |
Other Consolidated Subsidiaries [Member] | Mortgage notes and other debt [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 0.00% | |
Other Consolidated Subsidiaries [Member] | Mortgage notes and other debt [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 3.27% | |
Wells Fargo & Company [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | $ 152,628 | 135,079 |
Wells Fargo & Company [Member] | Notes issued by parent at discount [Member] | Fixed-rate notes [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated notes | 128 | 131 |
Debt Issuance costs, gross | 2 | 2 |
Affiliate related deferred finance costs, gross | 281 | 278 |
Wells Fargo & Company [Member] | Senior debt [Member] | ||
Debt Instrument [Line Items] | ||
Senior notes | 123,838 | 108,180 |
Long-term debt | $ 123,838 | |
Wells Fargo & Company [Member] | Senior debt [Member] | Fixed-rate notes [Member] | ||
Debt Instrument [Line Items] | ||
Maturity date(s) start | Jan. 1, 2020 | |
Maturity date(s) end | Dec. 31, 2047 | |
Senior notes | $ 86,618 | 77,742 |
Wells Fargo & Company [Member] | Senior debt [Member] | Fixed-rate notes [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 0.38% | |
Wells Fargo & Company [Member] | Senior debt [Member] | Fixed-rate notes [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 6.75% | |
Wells Fargo & Company [Member] | Senior debt [Member] | Fixed-rate notes [Member] | Deferrable notes [Member] | ||
Debt Instrument [Line Items] | ||
Senior notes | $ 66 | |
Wells Fargo & Company [Member] | Senior debt [Member] | Fixed-rate notes [Member] | Deferrable notes [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 0.00% | |
Wells Fargo & Company [Member] | Senior debt [Member] | Fixed-rate notes [Member] | Deferrable notes [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 0.00% | |
Wells Fargo & Company [Member] | Senior debt [Member] | Floating-rate notes [Member] | ||
Debt Instrument [Line Items] | ||
Maturity date(s) start | Jan. 1, 2020 | |
Maturity date(s) end | Dec. 31, 2048 | |
Senior notes | $ 16,800 | 19,553 |
Wells Fargo & Company [Member] | Senior debt [Member] | Floating-rate notes [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 0.02% | |
Wells Fargo & Company [Member] | Senior debt [Member] | Floating-rate notes [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 3.24% | |
Wells Fargo & Company [Member] | Senior debt [Member] | FixFloat notes [Member] | ||
Debt Instrument [Line Items] | ||
Maturity date(s) start | Jan. 1, 2025 | |
Maturity date(s) end | Dec. 31, 2030 | |
Senior notes | $ 12,030 | 2,901 |
Wells Fargo & Company [Member] | Senior debt [Member] | FixFloat notes [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 2.41% | |
Wells Fargo & Company [Member] | Senior debt [Member] | FixFloat notes [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 3.58% | |
Wells Fargo & Company [Member] | Senior debt [Member] | Structured notes [Member] | ||
Debt Instrument [Line Items] | ||
Senior notes | $ 8,390 | 7,984 |
Wells Fargo & Company [Member] | Senior subordinated debt [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated notes | 27,195 | 25,428 |
Long-term debt | $ 27,195 | |
Wells Fargo & Company [Member] | Senior subordinated debt [Member] | Fixed-rate notes [Member] | ||
Debt Instrument [Line Items] | ||
Maturity date(s) start | Jan. 1, 2023 | |
Maturity date(s) end | Dec. 31, 2046 | |
Subordinated notes | $ 27,195 | 25,428 |
Wells Fargo & Company [Member] | Senior subordinated debt [Member] | Fixed-rate notes [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 3.45% | |
Wells Fargo & Company [Member] | Senior subordinated debt [Member] | Fixed-rate notes [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 7.57% | |
Wells Fargo & Company [Member] | Junior subordinated debt [Member] | ||
Debt Instrument [Line Items] | ||
Junior subordinated notes | $ 1,746 | 1,616 |
Long-term debt | $ 1,746 | |
Wells Fargo & Company [Member] | Junior subordinated debt [Member] | Floating-rate notes [Member] | ||
Debt Instrument [Line Items] | ||
Maturity date(s) start | Jan. 1, 2027 | |
Maturity date(s) end | Dec. 31, 2027 | |
Junior subordinated notes | $ 318 | 308 |
Wells Fargo & Company [Member] | Junior subordinated debt [Member] | Floating-rate notes [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 2.50% | |
Wells Fargo & Company [Member] | Junior subordinated debt [Member] | Floating-rate notes [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 3.00% | |
Wells Fargo & Company [Member] | Junior subordinated debt [Member] | Fixed-rate notes - trust securities [Member] | ||
Debt Instrument [Line Items] | ||
Maturity date(s) start | Jan. 1, 2029 | |
Maturity date(s) end | Dec. 31, 2036 | |
Junior subordinated notes | $ 1,428 | 1,308 |
Wells Fargo & Company [Member] | Junior subordinated debt [Member] | Fixed-rate notes - trust securities [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 5.95% | |
Wells Fargo & Company [Member] | Junior subordinated debt [Member] | Fixed-rate notes - trust securities [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 7.95% | |
Wells Fargo & Company [Member] | Long-Term Debt Parent [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | $ 152,779 | $ 135,224 |
Long-term Debt, Maturities (Det
Long-term Debt, Maturities (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Maturities of Long-Term Debt [Line Items] | |||
2020 | $ 39,646 | ||
2021 | 48,927 | ||
2022 | 24,402 | ||
2023 | 19,371 | ||
2024 | 10,405 | ||
Thereafter | 85,440 | ||
Total | 228,191 | $ 229,044 | |
Proceeds from issuance of long-term debt | 53,381 | 47,595 | $ 43,575 |
Long-term debt [Member] | |||
Maturities of Long-Term Debt [Line Items] | |||
Net increase (decrease) in long-term debt | (853) | ||
Wells Fargo Bank, National Association and other bank entities [Member] | |||
Maturities of Long-Term Debt [Line Items] | |||
2020 | 26,073 | ||
2021 | 29,003 | ||
2022 | 6,218 | ||
2023 | 4,179 | ||
2024 | 163 | ||
Thereafter | 6,888 | ||
Total | 72,524 | 91,399 | |
Wells Fargo Bank, National Association and other bank entities [Member] | Senior debt [Member] | |||
Maturities of Long-Term Debt [Line Items] | |||
2020 | 23,415 | ||
2021 | 27,865 | ||
2022 | 5,585 | ||
2023 | 2,884 | ||
2024 | 6 | ||
Thereafter | 260 | ||
Total | 60,015 | ||
Wells Fargo Bank, National Association and other bank entities [Member] | Senior subordinated debt [Member] | |||
Maturities of Long-Term Debt [Line Items] | |||
2020 | 0 | ||
2021 | 0 | ||
2022 | 0 | ||
2023 | 1,071 | ||
2024 | 0 | ||
Thereafter | 4,303 | ||
Total | 5,374 | ||
Wells Fargo Bank, National Association and other bank entities [Member] | Junior subordinated debt [Member] | |||
Maturities of Long-Term Debt [Line Items] | |||
2020 | 0 | ||
2021 | 0 | ||
2022 | 0 | ||
2023 | 0 | ||
2024 | 0 | ||
Thereafter | 363 | ||
Total | 363 | ||
Wells Fargo Bank, National Association and other bank entities [Member] | Securitizations and other bank debt [Member] | |||
Maturities of Long-Term Debt [Line Items] | |||
2020 | 2,658 | ||
2021 | 1,138 | ||
2022 | 633 | ||
2023 | 224 | ||
2024 | 157 | ||
Thereafter | 1,962 | ||
Total | 6,772 | ||
Other Consolidated Subsidiaries [Member] | |||
Maturities of Long-Term Debt [Line Items] | |||
2020 | 144 | ||
2021 | 1,761 | ||
2022 | 93 | ||
2023 | 435 | ||
2024 | 118 | ||
Thereafter | 337 | ||
Total | 2,888 | 2,421 | |
Other Consolidated Subsidiaries [Member] | Senior debt [Member] | |||
Maturities of Long-Term Debt [Line Items] | |||
2020 | 144 | ||
2021 | 1,761 | ||
2022 | 93 | ||
2023 | 435 | ||
2024 | 118 | ||
Thereafter | 305 | ||
Total | 2,856 | ||
Other Consolidated Subsidiaries [Member] | Securitizations and other bank debt [Member] | |||
Maturities of Long-Term Debt [Line Items] | |||
2020 | 0 | ||
2021 | 0 | ||
2022 | 0 | ||
2023 | 0 | ||
2024 | 0 | ||
Thereafter | 32 | ||
Total | 32 | ||
Parent Company [Member] | |||
Maturities of Long-Term Debt [Line Items] | |||
Total | 152,628 | 135,079 | |
Proceeds from issuance of long-term debt | 20,369 | 1,876 | $ 22,217 |
Parent Company [Member] | Senior debt [Member] | |||
Maturities of Long-Term Debt [Line Items] | |||
2020 | 13,429 | ||
2021 | 18,163 | ||
2022 | 18,091 | ||
2023 | 11,104 | ||
2024 | 9,387 | ||
Thereafter | 53,664 | ||
Total | 123,838 | ||
Parent Company [Member] | Senior subordinated debt [Member] | |||
Maturities of Long-Term Debt [Line Items] | |||
2020 | 0 | ||
2021 | 0 | ||
2022 | 0 | ||
2023 | 3,653 | ||
2024 | 737 | ||
Thereafter | 22,805 | ||
Total | 27,195 | ||
Parent Company [Member] | Junior subordinated debt [Member] | |||
Maturities of Long-Term Debt [Line Items] | |||
2020 | 0 | ||
2021 | 0 | ||
2022 | 0 | ||
2023 | 0 | ||
2024 | 0 | ||
Thereafter | 1,746 | ||
Total | 1,746 | ||
Parent Company [Member] | Long-Term Debt Parent [Member] | |||
Maturities of Long-Term Debt [Line Items] | |||
2020 | 13,429 | ||
2021 | 18,163 | ||
2022 | 18,091 | ||
2023 | 14,757 | ||
2024 | 10,124 | ||
Thereafter | 78,215 | ||
Total | $ 152,779 | $ 135,224 |
Guarantees, Pledged Assets an_3
Guarantees, Pledged Assets and Collateral, Carrying Value and Maximum Exposure to Loss (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Guarantor Obligations [Line Items] | ||
Carrying value of obligation (asset) | $ (256) | $ (90) |
Maximum exposure to loss, Expires in one year or less | 31,417 | 32,872 |
Maximum exposure to loss, Expires after one year through three years | 19,721 | 19,053 |
Maximum exposure to loss, Expires after three years through five years | 7,336 | 7,674 |
Maximum exposure to loss, Expires after five years | 16,521 | 15,063 |
Maximum exposure to loss | $ 74,995 | 74,662 |
Percentage share of losses owed on loans and MHFS sold with recourse (up to 33.33%) | 33.33% | |
Statement of full and unconditional guarantee | The Parent fully and unconditionally guarantees the payment of principal, interest, and any other amounts that may be due on securities that its 100% owned finance subsidiary, Wells Fargo Finance LLC, may issue. | |
Liabilities | $ 1,739,571 | 1,698,817 |
Total assets | 1,927,555 | 1,895,883 |
Carrying value of delinquent loans eligible for repurchase from GNMA loan securitizations | 568 | 1,200 |
Security Owned and Pledged as Collateral, Fair Value [Abstract] | ||
Equity securities | 27,440 | 19,449 |
Total pledged asset related to trading activities | 121,507 | 100,316 |
Total pledged assets | 585,728 | 622,643 |
Related to non-trading activities [Member] | ||
Security Owned and Pledged as Collateral, Fair Value [Abstract] | ||
Debt securities and other | 65,047 | 62,438 |
Mortgage loans held for sale | 2,266 | 7,439 |
Loans | 406,106 | 446,455 |
Total pledged assets | 473,419 | 516,332 |
Related to trading activities [Member] | ||
Security Owned and Pledged as Collateral, Fair Value [Abstract] | ||
Debt securities | 106,105 | 96,616 |
Equity securities | 6,204 | 9,695 |
Total pledged asset related to trading activities | 112,309 | 106,311 |
Non-investment grade [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum exposure to loss | 36,934 | 39,591 |
Written options [Member] | ||
Guarantor Obligations [Line Items] | ||
Carrying value of obligation (asset) | (345) | (185) |
Maximum exposure to loss, Expires in one year or less | 17,088 | 17,243 |
Maximum exposure to loss, Expires after one year through three years | 10,869 | 10,502 |
Maximum exposure to loss, Expires after three years through five years | 2,341 | 3,066 |
Maximum exposure to loss, Expires after five years | 273 | 400 |
Maximum exposure to loss | 30,571 | 31,211 |
Written options [Member] | Non-investment grade [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum exposure to loss | 18,113 | 21,732 |
Standby Letters of Credit [Member] | ||
Guarantor Obligations [Line Items] | ||
Carrying value of obligation (asset) | 36 | 40 |
Maximum exposure to loss, Expires in one year or less | 11,569 | 10,947 |
Maximum exposure to loss, Expires after one year through three years | 4,460 | 4,649 |
Maximum exposure to loss, Expires after three years through five years | 2,812 | 2,872 |
Maximum exposure to loss, Expires after five years | 467 | 461 |
Maximum exposure to loss | 19,308 | 18,929 |
Standby Letters of Credit [Member] | Non-investment grade [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum exposure to loss | 7,104 | 7,017 |
Direct pay letters of credit (DPLCs) [Member] | ||
Guarantor Obligations [Line Items] | ||
Carrying value of obligation (asset) | 0 | 0 |
Maximum exposure to loss, Expires in one year or less | 1,861 | 3,689 |
Maximum exposure to loss, Expires after one year through three years | 3,815 | 3,248 |
Maximum exposure to loss, Expires after three years through five years | 824 | 526 |
Maximum exposure to loss, Expires after five years | 105 | 36 |
Maximum exposure to loss | 6,605 | 7,499 |
Direct pay letters of credit (DPLCs) [Member] | Non-investment grade [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum exposure to loss | 1,184 | 1,010 |
Loans and MHFS sold with recourse [Member] | ||
Guarantor Obligations [Line Items] | ||
Carrying value of obligation (asset) | 52 | 54 |
Maximum exposure to loss, Expires in one year or less | 114 | 104 |
Maximum exposure to loss, Expires after one year through three years | 576 | 653 |
Maximum exposure to loss, Expires after three years through five years | 1,356 | 1,207 |
Maximum exposure to loss, Expires after five years | 10,050 | 10,163 |
Maximum exposure to loss | 12,096 | 12,127 |
Loans and MHFS sold with recourse [Member] | Non-investment grade [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum exposure to loss | 9,835 | 9,079 |
Exchange and clearing house guarantees [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 after one year through three years | 0 | 0 |
Maximum exposure to loss, Expires after three years through five years | 0 | 0 |
Maximum exposure to loss, Expires after five years | 4,817 | 2,922 |
Maximum exposure to loss | 4,817 | 2,922 |
Exchange and clearing house guarantees [Member] | Non-investment grade [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum exposure to loss | 0 | 0 |
Other guarantees and indemnifications [Member] | ||
Guarantor Obligations [Line Items] | ||
Carrying value of obligation (asset) | 1 | 1 |
Maximum exposure to loss, Expires in one year or less | 785 | 889 |
Maximum exposure to loss, Expires after one year through three years | 1 | 1 |
Maximum exposure to loss, Expires after three years through five years | 3 | 3 |
Maximum exposure to loss, Expires after five years | 809 | 1,081 |
Maximum exposure to loss | 1,598 | 1,974 |
Other guarantees and indemnifications [Member] | Non-investment grade [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum exposure to loss | 698 | 753 |
Third Party Clearing Indemnifications [Member] | ||
Guarantor Obligations [Line Items] | ||
Outstanding customer obligations with indemnification to third-party clearing agents | 80 | 70 |
Outstanding customer obligations with related collateral | 696 | 974 |
Other Trading - Off-Balance Sheet [Member] | Related to trading activities [Member] | ||
Security Owned and Pledged as Collateral, Fair Value [Abstract] | ||
Total pledged asset related to trading activities | 60,100 | 60,800 |
Consolidated VIEs [Member] | ||
Guarantor Obligations [Line Items] | ||
Liabilities | 1,226 | 1,508 |
Total assets | 14,368 | 14,585 |
Transfers that we account for as secured borrowings [Member] | ||
Guarantor Obligations [Line Items] | ||
Liabilities | 79 | 93 |
Total assets | 80 | 94 |
Wells Fargo Finance, LLC [Member] | Other commitments and guarantees [Member] | ||
Guarantor Obligations [Line Items] | ||
Liabilities | $ 1,600 | $ 5 |
Pledged Assets, Offsetting - Se
Pledged Assets, Offsetting - Securities Financing Activities (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Financial Instruments Owned and Pledged as Collateral [Line Items] | ||
Net amounts in consolidated balance sheet | $ 121,593 | $ 97,404 |
Collateral received with the right to sell or repledge | 150,900 | 123,100 |
Collateral sold or repledged | 59,100 | 60,800 |
Collateral pledged, fair value | 113,300 | 108,800 |
Resale and securities borrowing agreements | ||
Gross amounts recognized | 140,773 | 112,662 |
Gross amounts offset in consolidated balance sheet | (19,180) | (15,258) |
Net amounts in consolidated balance sheet | 121,593 | 97,404 |
Collateral not recognized in consolidated balance sheet (3) | (120,786) | (96,734) |
Net amount (4) | 807 | 670 |
Repurchase and securities lending agreements | ||
Gross amounts recognized (5) | 111,038 | 106,248 |
Gross amounts offset in consolidated balance sheet (1) | (19,180) | (15,258) |
Net amounts in consolidated balance sheet | 91,858 | 90,990 |
Collateral pledged but not netted in consolidated balance sheet (7) | (91,709) | (90,798) |
Net amount | 149 | 192 |
Fed funds sold and securities purchased under resale agreements [Member] | ||
Financial Instruments Owned and Pledged as Collateral [Line Items] | ||
Net amounts in consolidated balance sheet | 102,100 | 80,100 |
Resale and securities borrowing agreements | ||
Net amounts in consolidated balance sheet | 102,100 | 80,100 |
Loans [Member] | ||
Financial Instruments Owned and Pledged as Collateral [Line Items] | ||
Net amounts in consolidated balance sheet | 19,500 | 17,300 |
Resale and securities borrowing agreements | ||
Net amounts in consolidated balance sheet | $ 19,500 | $ 17,300 |
Pledged Assets, Collateral Type
Pledged Assets, Collateral Type and Contractual Maturities of Gross Obligations (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | $ 106,169 | $ 97,280 |
Securities Lending arrangements | 4,869 | 8,968 |
Total Repurchases and Securities Lending (1) | 111,038 | 106,248 |
Overnight/Continuous [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 79,793 | 86,574 |
Securities Lending arrangements | 4,724 | 8,669 |
Total Repurchases and Securities Lending (1) | 84,517 | 95,243 |
Up to 30 days [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 17,681 | 3,244 |
Securities Lending arrangements | 0 | 0 |
Total Repurchases and Securities Lending (1) | 17,681 | 3,244 |
30-90 Days [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 4,825 | 2,153 |
Securities Lending arrangements | 145 | 299 |
Total Repurchases and Securities Lending (1) | 4,970 | 2,452 |
Over 90 days [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 3,870 | 5,309 |
Securities Lending arrangements | 0 | 0 |
Total Repurchases and Securities Lending (1) | 3,870 | 5,309 |
Securities of U.S. Treasury and federal agencies [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 48,161 | 38,408 |
Securities Lending arrangements | 163 | 222 |
Securities of U.S. states and political subdivisions [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 104 | 159 |
Federal agency mortgage-backed securities [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 44,737 | 47,241 |
Securities Lending arrangements | 0 | 2 |
Non-agency mortgage-backed securities [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 1,818 | 1,875 |
Corporate debt securities [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 7,126 | 6,191 |
Securities Lending arrangements | 223 | 389 |
Asset-backed securities [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 1,844 | 2,074 |
Equity securities [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 1,674 | 992 |
Securities Lending arrangements | 4,481 | 8,349 |
Other [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 705 | 340 |
Securities Lending arrangements | $ 2 | $ 6 |
Other Commitments (Details)
Other Commitments (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Other Commitments [Line Items] | ||
Resale Agreements, Unfunded Commitments | $ 7,500 | $ 12,400 |
Purchase Commitment [Member] | Debt securities [Member] | ||
Other Commitments [Line Items] | ||
Other Commitment | 18 | 335 |
Purchase Commitment [Member] | Equity securities [Member] | ||
Other Commitments [Line Items] | ||
Other Commitment | $ 2,700 | $ 2,500 |
Legal Actions (Details)
Legal Actions (Details) $ in Millions | Feb. 21, 2020USD ($) | Nov. 30, 2016USD ($) | Jul. 13, 2012USD ($) | Apr. 30, 2020 | May 31, 2019USD ($) | Dec. 31, 2018USD ($) | Nov. 30, 2018USD ($) | Oct. 31, 2018USD ($) | Aug. 31, 2018USD ($) | Dec. 31, 2019USD ($)legal_action | Apr. 20, 2017USD ($) | Jan. 31, 2020USD ($) | Jan. 15, 2020USD ($) | Apr. 20, 2018USD ($) | Jul. 31, 2017 | Nov. 17, 2016legal_action | May 31, 2016 |
Liability for Contingent Litigation Losses [Member] | |||||||||||||||||
Legal Actions (Textual) [Abstract] | |||||||||||||||||
Range of possible loss, portion not accrued | $ 2,600 | ||||||||||||||||
ATM Access Fee Litigation [Member] | |||||||||||||||||
Legal Actions (Textual) [Abstract] | |||||||||||||||||
Loss Contingency, Pending Claims, Number | legal_action | 3 | ||||||||||||||||
Automobile Lending Matters [Member] | |||||||||||||||||
Legal Actions (Textual) [Abstract] | |||||||||||||||||
Loss Contingency, Pending Claims, Number | legal_action | 1 | ||||||||||||||||
Loss Contingency, Estimate of Possible Loss | $ 547 | ||||||||||||||||
Interchange Litigation [Member] | |||||||||||||||||
Legal Actions (Textual) [Abstract] | |||||||||||||||||
Loss Contingency, Estimate of Possible Loss | $ 6,600 | ||||||||||||||||
Litigation Settlement, Additional Funding | $ 900 | ||||||||||||||||
Distribution to class merchants (percent) | 0.10% | ||||||||||||||||
Distribution period to class merchants | 8 months | ||||||||||||||||
Litigation Settlement, Expense | 6,200 | ||||||||||||||||
Litigation Settlement, Funds Remaining from 2012 | 5,300 | ||||||||||||||||
Litigation Settlement, Additional Funding Allocated to WFC | $ 94.5 | ||||||||||||||||
Mobile Deposit Patent Litigation [Member] | |||||||||||||||||
Legal Actions (Textual) [Abstract] | |||||||||||||||||
Loss Contingency, Pending Claims, Number | legal_action | 2 | ||||||||||||||||
Mobile Deposit Patent Litigation - First Case [Member] | |||||||||||||||||
Legal Actions (Textual) [Abstract] | |||||||||||||||||
Loss Contingency, Estimate of Possible Loss | $ 200 | ||||||||||||||||
Mortgage Related Regulatory Investigations [Member] | |||||||||||||||||
Legal Actions (Textual) [Abstract] | |||||||||||||||||
Loss Contingency Accrual, Payments | $ 17 | $ 2,090 | |||||||||||||||
Retail Sales Practice Matters [Member] | |||||||||||||||||
Legal Actions (Textual) [Abstract] | |||||||||||||||||
Loss Contingency Accrual, Payments | $ 65 | ||||||||||||||||
Amounts to be paid in connection with legal or regulatory matters | $ 142 | ||||||||||||||||
Retail Sales Practices, CPI and GAP, and Mortgage interest rate lock matters [Member] | |||||||||||||||||
Legal Actions (Textual) [Abstract] | |||||||||||||||||
Civil Money Penalty | $ 1,000 | ||||||||||||||||
Loss Contingency Accrual, Payments | $ 575 | ||||||||||||||||
RMBS Trustee Litigation [Member] | |||||||||||||||||
Legal Actions (Textual) [Abstract] | |||||||||||||||||
Loss Contingency Accrual, Payments | $ 43 | ||||||||||||||||
RMBS Trustee Litigation Civil Complaint [Member] | |||||||||||||||||
Legal Actions (Textual) [Abstract] | |||||||||||||||||
RMBS trusts at issue in the State Court Action | 11 | ||||||||||||||||
RMBS Trustee Punitive Class Action Complaint [Member] | |||||||||||||||||
Legal Actions (Textual) [Abstract] | |||||||||||||||||
RMBS trusts at issue in the State Court Action | 261 | ||||||||||||||||
Seminole Tribe - Administration of a minor’s trust [Member] | |||||||||||||||||
Legal Actions (Textual) [Abstract] | |||||||||||||||||
Loss Contingency, Pending Claims, Number | legal_action | 3 | ||||||||||||||||
All Class Members [Member] | Automobile Lending Matters [Member] | |||||||||||||||||
Legal Actions (Textual) [Abstract] | |||||||||||||||||
Litigation Settlement, Additional Funding | $ 1 | ||||||||||||||||
All Class Members [Member] | Retail Sales Practice Matters [Member] | |||||||||||||||||
Legal Actions (Textual) [Abstract] | |||||||||||||||||
Loss Contingency Accrual, Payments | $ 480 | ||||||||||||||||
Subsequent Event [Member] | Mobile Deposit Patent Litigation - Second Case [Member] | |||||||||||||||||
Legal Actions (Textual) [Abstract] | |||||||||||||||||
Loss Contingency, Estimate of Possible Loss | $ 102.7 | ||||||||||||||||
Subsequent Event [Member] | Retail Sales Practice Matters [Member] | |||||||||||||||||
Legal Actions (Textual) [Abstract] | |||||||||||||||||
Gain Contingency, Estimate of Possible Insurance Carriers Payments | $ 240 | ||||||||||||||||
Loss Contingency, Damages Awarded, Value | $ 3,000 | ||||||||||||||||
Subsequent Event [Member] | Retail Sales Practices Matters, Department Of Justice (DOJ) [Member] | |||||||||||||||||
Legal Actions (Textual) [Abstract] | |||||||||||||||||
Loss Contingency, Settlement Agreement, Date | Feb. 21, 2020 | ||||||||||||||||
Loss Contingency, Laws Affected | The Department of Justice criminal settlement also includes the Company’s agreement that the facts set forth in the settlement document constitute sufficient facts for the finding of criminal violations of statutes regarding bank records and personal information. | ||||||||||||||||
Subsequent Event [Member] | Retail Sales Practices Matters, Securities And Exchange Commission (SEC) [Member] | |||||||||||||||||
Legal Actions (Textual) [Abstract] | |||||||||||||||||
Loss Contingency, Settlement Agreement, Date | Feb. 21, 2020 | ||||||||||||||||
Loss Contingency, Laws Affected | The SEC order contains a finding, to which the Company consented, that the facts set forth include violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. | ||||||||||||||||
Fair Fund, Investors Benefits | $ 500 | ||||||||||||||||
Subsequent Event [Member] | Seminole Tribe - Administration of a minor’s trust [Member] | |||||||||||||||||
Legal Actions (Textual) [Abstract] | |||||||||||||||||
Loss Contingency, Expected Trial Commencement | 2020-04 |
Derivatives, Notional or Contra
Derivatives, Notional or Contractual Amounts and Fair Values of Derivatives (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value asset derivatives | $ 39,326 | $ 34,560 |
Fair value asset derivatives, netting | (25,123) | (23,790) |
Net amounts in consolidated balance sheet, asset | 14,203 | 10,770 |
Fair value liability derivatives | 37,930 | 32,047 |
Fair value liability derivatives, netting | (28,851) | (23,548) |
Net amounts in consolidated balance sheet, liability | 9,079 | 8,499 |
Interest rate contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value asset derivatives, netting | (14,878) | (12,029) |
Net amounts in consolidated balance sheet, asset | 9,169 | 6,406 |
Fair value liability derivatives, netting | (16,595) | (13,152) |
Net amounts in consolidated balance sheet, liability | 2,771 | 3,156 |
Commodity contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value asset derivatives, netting | (888) | (849) |
Net amounts in consolidated balance sheet, asset | 533 | 739 |
Fair value liability derivatives, netting | (677) | (727) |
Net amounts in consolidated balance sheet, liability | 1,093 | 1,609 |
Equity contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value asset derivatives, netting | (5,570) | (5,318) |
Net amounts in consolidated balance sheet, asset | 2,966 | 2,227 |
Fair value liability derivatives, netting | (6,647) | (3,877) |
Net amounts in consolidated balance sheet, liability | 3,817 | 2,133 |
Foreign exchange contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value asset derivatives, netting | (3,722) | (5,355) |
Net amounts in consolidated balance sheet, asset | 1,492 | 1,359 |
Fair value liability derivatives, netting | (4,866) | (5,522) |
Net amounts in consolidated balance sheet, liability | 1,381 | 1,591 |
Credit contracts protection sold [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value asset derivatives, netting | (9) | (73) |
Net amounts in consolidated balance sheet, asset | 3 | 3 |
Fair value liability derivatives, netting | (60) | (180) |
Net amounts in consolidated balance sheet, liability | 5 | 2 |
Credit Contracts Protection Purchased [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value asset derivatives, netting | (56) | (166) |
Net amounts in consolidated balance sheet, asset | 40 | 36 |
Fair value liability derivatives, netting | (6) | (90) |
Net amounts in consolidated balance sheet, liability | 12 | 8 |
Designated as hedging instrument [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value asset derivatives | 2,936 | 2,810 |
Fair value liability derivatives | 2,407 | 2,012 |
Designated as hedging instrument [Member] | Interest rate contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 182,789 | 177,511 |
Fair value asset derivatives | 2,595 | 2,237 |
Fair value liability derivatives | 1,237 | 636 |
Designated as hedging instrument [Member] | Foreign exchange contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 32,386 | 34,176 |
Fair value asset derivatives | 341 | 573 |
Fair value liability derivatives | 1,170 | 1,376 |
Not designated as hedging instrument [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value asset derivatives | 36,390 | 31,750 |
Fair value liability derivatives | 35,523 | 30,035 |
Economic hedges [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value asset derivatives | 1,478 | 2,463 |
Fair value liability derivatives | 670 | 528 |
Economic hedges [Member] | Interest rate contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 235,810 | 173,215 |
Fair value asset derivatives | 207 | 849 |
Fair value liability derivatives | 160 | 369 |
Economic hedges [Member] | Equity contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 19,263 | 13,920 |
Fair value asset derivatives | 1,126 | 1,362 |
Fair value liability derivatives | 224 | 79 |
Economic hedges [Member] | Foreign exchange contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 26,595 | 19,521 |
Fair value asset derivatives | 118 | 225 |
Fair value liability derivatives | 286 | 80 |
Economic hedges [Member] | Credit Contracts Protection Purchased [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 1,400 | 100 |
Fair value asset derivatives | 27 | 27 |
Fair value liability derivatives | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value asset derivatives | 34,912 | 29,287 |
Fair value liability derivatives | 34,853 | 29,507 |
Customer accommodation trading and other derivatives [Member] | Interest rate contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 11,117,542 | 9,162,821 |
Fair value asset derivatives | 21,245 | 15,349 |
Fair value liability derivatives | 17,969 | 15,303 |
Customer accommodation trading and other derivatives [Member] | Commodity contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 79,737 | 66,173 |
Fair value asset derivatives | 1,421 | 1,588 |
Fair value liability derivatives | 1,770 | 2,336 |
Customer accommodation trading and other derivatives [Member] | Equity contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 272,145 | 217,890 |
Fair value asset derivatives | 7,410 | 6,183 |
Fair value liability derivatives | 10,240 | 5,931 |
Customer accommodation trading and other derivatives [Member] | Foreign exchange contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 364,469 | 364,982 |
Fair value asset derivatives | 4,755 | 5,916 |
Fair value liability derivatives | 4,791 | 5,657 |
Customer accommodation trading and other derivatives [Member] | Credit contracts protection sold [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 12,215 | 11,741 |
Fair value asset derivatives | 12 | 76 |
Fair value liability derivatives | 65 | 182 |
Customer accommodation trading and other derivatives [Member] | Credit Contracts Protection Purchased [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 24,030 | 20,880 |
Fair value asset derivatives | 69 | 175 |
Fair value liability derivatives | $ 18 | $ 98 |
Derivatives, Gross Fair Values
Derivatives, Gross Fair Values of Derivative Assets and Liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Derivative Assets | ||
Gross amounts recognized | $ 39,326 | $ 34,560 |
Gross amounts offset in consolidated balance sheet | (25,123) | (23,790) |
Net amounts in consolidated balance sheet, asset | 14,203 | 10,770 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (539) | (875) |
Net amounts | 13,664 | 9,895 |
Derivative Liabilities | ||
Gross amounts recognized | 37,930 | 32,047 |
Gross amounts offset in consolidated balance sheet | (28,851) | (23,548) |
Net amounts in consolidated balance sheet, liability | 9,079 | 8,499 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (1,038) | (875) |
Net amounts | 8,041 | 7,624 |
Derivatives (Textual) [Abstract] | ||
Derivative assets subject to enforceable master netting arrangements | 33,700 | 30,900 |
Derivative liabilities subject to enforceable master netting arrangements | 33,500 | 28,400 |
Derivative assets not subject to enforceable master netting arrangements | 5,600 | 3,700 |
Derivative liabilities not subject to enforceable master netting arrangements | 4,400 | 3,600 |
Cash collateral receivables not offset against derivatives | 6,300 | 4,800 |
Cash collateral payables not offset against derivatives | 1,400 | 1,400 |
Valuation adjustments for derivative assets | 231 | 353 |
Valuation adjustments for derivative liabilities | 100 | 152 |
Cash collateral netted against derivative assets | 2,900 | 3,700 |
Cash collateral netted against derivative liabilities | 6,800 | 3,600 |
Interest rate contract [Member] | ||
Derivative Assets | ||
Gross amounts recognized | 24,047 | 18,435 |
Gross amounts offset in consolidated balance sheet | (14,878) | (12,029) |
Net amounts in consolidated balance sheet, asset | 9,169 | 6,406 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (445) | (80) |
Net amounts | $ 8,724 | $ 6,326 |
Percent exchanged in the over the counter market | 95.00% | 90.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 19,366 | $ 16,308 |
Gross amounts offset in consolidated balance sheet | (16,595) | (13,152) |
Net amounts in consolidated balance sheet, liability | 2,771 | 3,156 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (545) | (567) |
Net amounts | $ 2,226 | $ 2,589 |
Percent exchanged in the over the counter market | 94.00% | 92.00% |
Commodity contract [Member] | ||
Derivative Assets | ||
Gross amounts recognized | $ 1,421 | $ 1,588 |
Gross amounts offset in consolidated balance sheet | (888) | (849) |
Net amounts in consolidated balance sheet, asset | 533 | 739 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (2) | (4) |
Net amounts | $ 531 | $ 735 |
Percent exchanged in the over the counter market | 80.00% | 57.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 1,770 | $ 2,336 |
Gross amounts offset in consolidated balance sheet | (677) | (727) |
Net amounts in consolidated balance sheet, liability | 1,093 | 1,609 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (2) | (8) |
Net amounts | $ 1,091 | $ 1,601 |
Percent exchanged in the over the counter market | 82.00% | 85.00% |
Equity contract [Member] | ||
Derivative Assets | ||
Gross amounts recognized | $ 8,536 | $ 7,545 |
Gross amounts offset in consolidated balance sheet | (5,570) | (5,318) |
Net amounts in consolidated balance sheet, asset | 2,966 | 2,227 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (69) | (755) |
Net amounts | $ 2,897 | $ 1,472 |
Percent exchanged in the over the counter market | 65.00% | 78.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 10,464 | $ 6,010 |
Gross amounts offset in consolidated balance sheet | (6,647) | (3,877) |
Net amounts in consolidated balance sheet, liability | 3,817 | 2,133 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (319) | (110) |
Net amounts | $ 3,498 | $ 2,023 |
Percent exchanged in the over the counter market | 81.00% | 75.00% |
Foreign exchange contract [Member] | ||
Derivative Assets | ||
Gross amounts recognized | $ 5,214 | $ 6,714 |
Gross amounts offset in consolidated balance sheet | (3,722) | (5,355) |
Net amounts in consolidated balance sheet, asset | 1,492 | 1,359 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (22) | (35) |
Net amounts | $ 1,470 | $ 1,324 |
Percent exchanged in the over the counter market | 100.00% | 100.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 6,247 | $ 7,113 |
Gross amounts offset in consolidated balance sheet | (4,866) | (5,522) |
Net amounts in consolidated balance sheet, liability | 1,381 | 1,591 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (169) | (188) |
Net amounts | $ 1,212 | $ 1,403 |
Percent exchanged in the over the counter market | 100.00% | 100.00% |
Credit contracts protection sold [Member] | ||
Derivative Assets | ||
Gross amounts recognized | $ 12 | $ 76 |
Gross amounts offset in consolidated balance sheet | (9) | (73) |
Net amounts in consolidated balance sheet, asset | 3 | 3 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | 0 | 0 |
Net amounts | $ 3 | $ 3 |
Percent exchanged in the over the counter market | 84.00% | 12.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 65 | $ 182 |
Gross amounts offset in consolidated balance sheet | (60) | (180) |
Net amounts in consolidated balance sheet, liability | 5 | 2 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (3) | (2) |
Net amounts | $ 2 | $ 0 |
Percent exchanged in the over the counter market | 98.00% | 67.00% |
Credit Contracts Protection Purchased [Member] | ||
Derivative Assets | ||
Gross amounts recognized | $ 96 | $ 202 |
Gross amounts offset in consolidated balance sheet | (56) | (166) |
Net amounts in consolidated balance sheet, asset | 40 | 36 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (1) | (1) |
Net amounts | $ 39 | $ 35 |
Percent exchanged in the over the counter market | 97.00% | 78.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 18 | $ 98 |
Gross amounts offset in consolidated balance sheet | (6) | (90) |
Net amounts in consolidated balance sheet, liability | 12 | 8 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | 0 | 0 |
Net amounts | $ 12 | $ 8 |
Percent exchanged in the over the counter market | 93.00% | 11.00% |
Derivatives, Gains (Losses) Rec
Derivatives, Gains (Losses) Recognized on Fair Value Hedging Relationships (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Total amounts presented in the consolidated statement of income and other comprehensive income | |||
Debt securities | $ 14,955 | $ 14,406 | $ 12,946 |
Mortgage loans held for sale | 813 | 777 | 786 |
Deposits | (8,635) | (5,622) | (3,013) |
Long-term debt | (7,350) | (6,703) | (5,157) |
Other | 3,181 | 2,473 | 1,603 |
Total recorded in OCI, Derivative gains (losses) | 275 | (238) | (1,083) |
Derivatives (Textual) [Abstract] | |||
Deferred net gains (losses) on derivatives in other comprehensive income | $ (221) | ||
Maximum length of time hedged in cash flow hedge | 11 years | ||
Fair value hedging [Member] | |||
Gains (losses) recognized on fair value hedging relationships | |||
Recognized on derivatives, Total recorded in OCI | $ (3) | (254) | (253) |
Interest contracts [Member] | Fair value hedging [Member] | |||
Gains (losses) recognized on fair value hedging relationships | |||
Recognized on derivatives, Total recorded in OCI | 0 | 0 | 0 |
Foreign exchange contract [Member] | Fair value hedging [Member] | |||
Gains (losses) recognized on fair value hedging relationships | |||
Recognized on derivatives, Total recorded in OCI | (3) | (254) | (253) |
Debt securities [Member] | Fair value hedging [Member] | |||
Gains (losses) recognized on fair value hedging relationships | |||
Total gains (losses) (pre-tax) recognized on fair value hedges | 50 | (180) | (547) |
Debt securities [Member] | Interest contracts [Member] | Fair value hedging [Member] | |||
Gains (losses) recognized on fair value hedging relationships | |||
Amounts related to interest settlements on derivatives | 0 | (187) | (469) |
Recognized on derivatives | (2,082) | 845 | (43) |
Recognized on hedged items | 2,096 | (877) | (52) |
Total gains (losses) (pre-tax) recognized on fair value hedges | 14 | (219) | (564) |
Debt securities [Member] | Foreign exchange contract [Member] | Fair value hedging [Member] | |||
Gains (losses) recognized on fair value hedging relationships | |||
Amounts related to interest settlements on derivatives | 35 | 33 | 14 |
Recognized on derivatives | (5) | 7 | 13 |
Recognized on hedged items | 6 | (1) | (10) |
Total gains (losses) (pre-tax) recognized on fair value hedges | 36 | 39 | 17 |
Mortgage loans held for sale [Member] | Fair value hedging [Member] | |||
Gains (losses) recognized on fair value hedging relationships | |||
Total gains (losses) (pre-tax) recognized on fair value hedges | (4) | (10) | (14) |
Mortgage loans held for sale [Member] | Interest contracts [Member] | Fair value hedging [Member] | |||
Gains (losses) recognized on fair value hedging relationships | |||
Amounts related to interest settlements on derivatives | 2 | (3) | (5) |
Recognized on derivatives | 1 | 15 | (5) |
Recognized on hedged items | (7) | (22) | (4) |
Total gains (losses) (pre-tax) recognized on fair value hedges | (4) | (10) | (14) |
Mortgage loans held for sale [Member] | Foreign exchange contract [Member] | Fair value hedging [Member] | |||
Gains (losses) recognized on fair value hedging relationships | |||
Amounts related to interest settlements on derivatives | 0 | 0 | 0 |
Recognized on derivatives | 0 | 0 | 0 |
Recognized on hedged items | 0 | 0 | 0 |
Total gains (losses) (pre-tax) recognized on fair value hedges | 0 | 0 | 0 |
Deposits [Member] | Fair value hedging [Member] | |||
Gains (losses) recognized on fair value hedging relationships | |||
Total gains (losses) (pre-tax) recognized on fair value hedges | 79 | (47) | 52 |
Deposits [Member] | Interest contracts [Member] | Fair value hedging [Member] | |||
Gains (losses) recognized on fair value hedging relationships | |||
Amounts related to interest settlements on derivatives | 58 | (41) | 36 |
Recognized on derivatives | 463 | 27 | (20) |
Recognized on hedged items | (442) | (33) | 36 |
Total gains (losses) (pre-tax) recognized on fair value hedges | 79 | (47) | 52 |
Deposits [Member] | Foreign exchange contract [Member] | Fair value hedging [Member] | |||
Gains (losses) recognized on fair value hedging relationships | |||
Amounts related to interest settlements on derivatives | 0 | 0 | 0 |
Recognized on derivatives | 0 | 0 | 0 |
Recognized on hedged items | 0 | 0 | 0 |
Total gains (losses) (pre-tax) recognized on fair value hedges | 0 | 0 | 0 |
Long-term debt [Member] | Fair value hedging [Member] | |||
Gains (losses) recognized on fair value hedging relationships | |||
Total gains (losses) (pre-tax) recognized on fair value hedges | (204) | (169) | 1,127 |
Long-term debt [Member] | Interest contracts [Member] | Fair value hedging [Member] | |||
Gains (losses) recognized on fair value hedging relationships | |||
Amounts related to interest settlements on derivatives | 169 | 292 | 1,286 |
Recognized on derivatives | 5,001 | (1,923) | (912) |
Recognized on hedged items | (4,910) | 1,843 | 938 |
Total gains (losses) (pre-tax) recognized on fair value hedges | 260 | 212 | 1,312 |
Long-term debt [Member] | Foreign exchange contract [Member] | Fair value hedging [Member] | |||
Gains (losses) recognized on fair value hedging relationships | |||
Amounts related to interest settlements on derivatives | (483) | (434) | (210) |
Recognized on derivatives | 308 | 135 | (230) |
Recognized on hedged items | (289) | (82) | 255 |
Total gains (losses) (pre-tax) recognized on fair value hedges | (464) | (381) | (185) |
Other noninterest income [Member] | Fair value hedging [Member] | |||
Gains (losses) recognized on fair value hedging relationships | |||
Total gains (losses) (pre-tax) recognized on fair value hedges | (8) | (90) | 263 |
Other noninterest income [Member] | Interest contracts [Member] | Fair value hedging [Member] | |||
Gains (losses) recognized on fair value hedging relationships | |||
Amounts related to interest settlements on derivatives | 0 | 0 | 0 |
Recognized on derivatives | 0 | 0 | 0 |
Recognized on hedged items | 0 | 0 | 0 |
Total gains (losses) (pre-tax) recognized on fair value hedges | 0 | 0 | 0 |
Other noninterest income [Member] | Foreign exchange contract [Member] | Fair value hedging [Member] | |||
Gains (losses) recognized on fair value hedging relationships | |||
Amounts related to interest settlements on derivatives | 0 | 0 | 0 |
Recognized on derivatives | (358) | (1,204) | 3,118 |
Recognized on hedged items | 350 | 1,114 | (2,855) |
Total gains (losses) (pre-tax) recognized on fair value hedges | (8) | (90) | 263 |
Derivative gains (losses) [Member] | Fair value hedging [Member] | |||
Gains (losses) recognized on fair value hedging relationships | |||
Total gains (losses) (pre-tax) recognized on fair value hedges | (87) | (496) | 880 |
Derivative gains (losses) [Member] | Interest contracts [Member] | Fair value hedging [Member] | |||
Gains (losses) recognized on fair value hedging relationships | |||
Amounts related to interest settlements on derivatives | 229 | 61 | 847 |
Recognized on derivatives | 3,383 | (1,035) | (979) |
Recognized on hedged items | (3,263) | 910 | 917 |
Total gains (losses) (pre-tax) recognized on fair value hedges | 349 | (64) | 785 |
Derivative gains (losses) [Member] | Foreign exchange contract [Member] | Fair value hedging [Member] | |||
Gains (losses) recognized on fair value hedging relationships | |||
Amounts related to interest settlements on derivatives | (448) | (401) | (196) |
Recognized on derivatives | (55) | (1,062) | 2,901 |
Recognized on hedged items | 67 | 1,031 | (2,610) |
Total gains (losses) (pre-tax) recognized on fair value hedges | $ (436) | $ (432) | $ 95 |
Derivatives, Gains (Losses) R_2
Derivatives, Gains (Losses) Recognized on Cash Flow Hedging Relationships (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Total amounts presented in the consolidated statement of income and other comprehensive income | |||
Loans | $ 44,146 | $ 43,974 | $ 41,388 |
Long-term debt | (7,350) | (6,703) | (5,157) |
Total recorded in OCI, Derivative gains (losses) | 275 | (238) | (1,083) |
Gains (losses) recognized on cash flow hedging relationships [Abstract] | |||
Reclassification of net (gains) losses to net income on cash flow hedges, before tax | 299 | 294 | (543) |
Cash flow hedging [Member] | |||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | |||
Reclassification of net (gains) losses to net income on cash flow hedges, before tax | 299 | 294 | (543) |
Net unrealized gains (losses) (pre-tax) recognized in OCI | (278) | (287) | |
Total gains (losses) (pre-tax) recognized on cash flow hedges | 278 | 16 | (830) |
Cash flow hedging [Member] | Interest rate contract [Member] | |||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | |||
Reclassification of net (gains) losses to net income on cash flow hedges, before tax | 290 | 291 | (543) |
Net unrealized gains (losses) (pre-tax) recognized in OCI | 0 | (266) | (287) |
Total gains (losses) (pre-tax) recognized on cash flow hedges | 290 | 25 | (830) |
Cash flow hedging [Member] | Foreign exchange contract [Member] | |||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | |||
Reclassification of net (gains) losses to net income on cash flow hedges, before tax | 9 | 3 | 0 |
Net unrealized gains (losses) (pre-tax) recognized in OCI | (21) | (12) | 0 |
Total gains (losses) (pre-tax) recognized on cash flow hedges | (12) | (9) | 0 |
Cash flow hedging [Member] | Loans [Member] | |||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | |||
Net unrealized gains (losses) (pre-tax) recognized in OCI | (291) | (292) | 551 |
Cash flow hedging [Member] | Loans [Member] | Interest rate contract [Member] | |||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | |||
Realized gains (losses) (pre-tax) reclassified from OCI into net income | (291) | (292) | 551 |
Net unrealized gains (losses) (pre-tax) recognized in OCI | (291) | (292) | 551 |
Cash flow hedging [Member] | Loans [Member] | Foreign exchange contract [Member] | |||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | |||
Realized gains (losses) (pre-tax) reclassified from OCI into net income | 0 | 0 | |
Net unrealized gains (losses) (pre-tax) recognized in OCI | 0 | 0 | 0 |
Cash flow hedging [Member] | Long-term debt [Member] | |||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | |||
Net unrealized gains (losses) (pre-tax) recognized in OCI | (8) | (2) | (8) |
Cash flow hedging [Member] | Long-term debt [Member] | Interest rate contract [Member] | |||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | |||
Realized gains (losses) (pre-tax) reclassified from OCI into net income | 1 | 1 | (8) |
Net unrealized gains (losses) (pre-tax) recognized in OCI | 1 | 1 | (8) |
Cash flow hedging [Member] | Long-term debt [Member] | Foreign exchange contract [Member] | |||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | |||
Realized gains (losses) (pre-tax) reclassified from OCI into net income | (9) | (3) | 0 |
Net unrealized gains (losses) (pre-tax) recognized in OCI | (9) | (3) | 0 |
Cash flow hedging [Member] | Derivative gains (losses) [Member] | |||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | |||
Net unrealized gains (losses) (pre-tax) recognized in OCI | (299) | (294) | 543 |
Cash flow hedging [Member] | Derivative gains (losses) [Member] | Interest rate contract [Member] | |||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | |||
Realized gains (losses) (pre-tax) reclassified from OCI into net income | (290) | (291) | 543 |
Net unrealized gains (losses) (pre-tax) recognized in OCI | (290) | (291) | 543 |
Cash flow hedging [Member] | Derivative gains (losses) [Member] | Foreign exchange contract [Member] | |||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | |||
Realized gains (losses) (pre-tax) reclassified from OCI into net income | (9) | (3) | |
Net unrealized gains (losses) (pre-tax) recognized in OCI | $ (9) | $ (3) | $ 0 |
Derivatives, Fair Value Hedging
Derivatives, Fair Value Hedging Basis Adjustment (Details) - Fair value hedging [Member] - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Hedged items currently designated [Member] | Debt securities [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying Amount of Assets | $ 36,896 | $ 37,857 |
Hedged Asset, Fair Value Hedge, Cumulative Basis Adjustments | 1,110 | (157) |
Hedged items currently designated [Member] | Mortgage loans held for sale [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying Amount of Assets | 961 | 448 |
Hedged Asset, Fair Value Hedge, Cumulative Basis Adjustments | (12) | 7 |
Hedged items currently designated [Member] | Deposits [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying Amount of Liabilities | (43,716) | (56,535) |
Hedged Liability, Fair Value Hedge, Cumulative Basis Adjustments | (324) | 115 |
Hedged items currently designated [Member] | Long-term debt [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying Amount of Liabilities | (127,423) | (104,341) |
Hedged Liability, Fair Value Hedge, Cumulative Basis Adjustments | (5,827) | (742) |
Not designated as hedging instrument [Member] | Debt securities [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying Amount of Assets | 9,486 | 4,938 |
Hedged Asset, Discontinued Fair Value Hedge, Cumulative Basis Adjustments | 278 | 238 |
Not designated as hedging instrument [Member] | Mortgage loans held for sale [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying Amount of Assets | 0 | 0 |
Hedged Asset, Discontinued Fair Value Hedge, Cumulative Basis Adjustments | 0 | 0 |
Not designated as hedging instrument [Member] | Deposits [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying Amount of Liabilities | 0 | 0 |
Hedged Liability, Discontinued Fair Value Hedge, Cumulative Basis Adjustments | 0 | 0 |
Not designated as hedging instrument [Member] | Long-term debt [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying Amount of Liabilities | (25,750) | (25,539) |
Hedged Liability, Discontinued Fair Value Hedge, Cumulative Basis Adjustments | 173 | 366 |
Foreign exchange contract [Member] | Hedged items currently designated [Member] | Debt securities [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying Amount of Assets | 1,200 | 1,600 |
Foreign exchange contract [Member] | Hedged items currently designated [Member] | Long-term debt [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying Amount of Liabilities | (5,200) | (6,300) |
Re-Designated As Hedging Instrument [Member] | Debt securities [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Hedged Asset, Fair Value Hedge, Cumulative Basis Adjustments | 790 | 1,400 |
Re-Designated As Hedging Instrument [Member] | Long-term debt [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Hedged Liability, Fair Value Hedge, Cumulative Basis Adjustments | $ 109 | $ 66 |
Derivatives, Derivatives Not De
Derivatives, Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Derivatives (Textual) [Abstract] | |||
Gains (losses) on derivatives used to hedge residential mortgage servicing rights | $ 2,318 | $ (1,072) | $ 413 |
Net derivative gains (losses) from economic hedges related to mortgage loans held for sale and derivative loan commitments | (141) | 857 | 35 |
Not designated as hedging instrument [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | (4,959) | 4,947 | (4,376) |
Derivatives (Textual) [Abstract] | |||
Gains (losses) on derivatives used to hedge residential mortgage servicing rights | (1,100) | 413 | |
Not designated as hedging instrument [Member] | Mortgage banking [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 2,595 | (567) | 1,062 |
Not designated as hedging instrument [Member] | Net gain (loss) from equity investments [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | (2,120) | (408) | (1,483) |
Not designated as hedging instrument [Member] | Net gain (loss) from trading activities [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | (4,867) | 5,667 | (3,037) |
Not designated as hedging instrument [Member] | Other [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | (567) | 255 | (918) |
Economic hedges [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | (26) | 35 | (1,954) |
Economic hedges [Member] | Interest contracts [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 2,178 | (230) | 373 |
Economic hedges [Member] | Equity contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | (2,122) | (404) | (1,466) |
Economic hedges [Member] | Foreign exchange contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | (77) | 669 | (866) |
Economic hedges [Member] | Credit contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | (5) | 0 | 5 |
Economic hedges [Member] | Mortgage banking [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 2,177 | (215) | 448 |
Economic hedges [Member] | Mortgage banking [Member] | Interest contracts [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 2,177 | (215) | 448 |
Economic hedges [Member] | Mortgage banking [Member] | Equity contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 0 | 0 | 0 |
Economic hedges [Member] | Mortgage banking [Member] | Foreign exchange contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 0 | 0 | 0 |
Economic hedges [Member] | Mortgage banking [Member] | Credit contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 0 | 0 | 0 |
Economic hedges [Member] | Net gain (loss) from equity investments [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | (2,120) | (408) | (1,483) |
Economic hedges [Member] | Net gain (loss) from equity investments [Member] | Interest contracts [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 0 | 0 | 0 |
Economic hedges [Member] | Net gain (loss) from equity investments [Member] | Equity contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | (2,120) | (408) | (1,483) |
Economic hedges [Member] | Net gain (loss) from equity investments [Member] | Foreign exchange contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 0 | 0 | 0 |
Economic hedges [Member] | Net gain (loss) from equity investments [Member] | Credit contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 0 | 0 | 0 |
Economic hedges [Member] | Net gain (loss) from trading activities [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 0 | 0 | 0 |
Economic hedges [Member] | Net gain (loss) from trading activities [Member] | Interest contracts [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 0 | 0 | 0 |
Economic hedges [Member] | Net gain (loss) from trading activities [Member] | Equity contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 0 | 0 | 0 |
Economic hedges [Member] | Net gain (loss) from trading activities [Member] | Foreign exchange contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 0 | 0 | 0 |
Economic hedges [Member] | Net gain (loss) from trading activities [Member] | Credit contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 0 | 0 | 0 |
Economic hedges [Member] | Other [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | (83) | 658 | (919) |
Economic hedges [Member] | Other [Member] | Interest contracts [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 1 | (15) | (75) |
Economic hedges [Member] | Other [Member] | Equity contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | (2) | 4 | 17 |
Economic hedges [Member] | Other [Member] | Foreign exchange contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | (77) | 669 | (866) |
Economic hedges [Member] | Other [Member] | Credit contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | (5) | 0 | 5 |
Customer accommodation trading and other derivatives [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | (4,933) | 4,912 | (2,422) |
Customer accommodation trading and other derivatives [Member] | Interest contracts [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 323 | 94 | 774 |
Customer accommodation trading and other derivatives [Member] | Commodity contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 164 | 83 | 178 |
Customer accommodation trading and other derivatives [Member] | Equity contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | (5,347) | 4,096 | (3,931) |
Customer accommodation trading and other derivatives [Member] | Foreign exchange contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 47 | 638 | 638 |
Customer accommodation trading and other derivatives [Member] | Credit contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | (120) | 1 | (81) |
Customer accommodation trading and other derivatives [Member] | Mortgage banking [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 418 | (352) | 614 |
Customer accommodation trading and other derivatives [Member] | Mortgage banking [Member] | Interest contracts [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 418 | (352) | 614 |
Customer accommodation trading and other derivatives [Member] | Mortgage banking [Member] | Commodity contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Mortgage banking [Member] | Equity contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Mortgage banking [Member] | Foreign exchange contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Mortgage banking [Member] | Credit contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Net gain (loss) from equity investments [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Net gain (loss) from equity investments [Member] | Interest contracts [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Net gain (loss) from equity investments [Member] | Commodity contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Net gain (loss) from equity investments [Member] | Equity contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Net gain (loss) from equity investments [Member] | Foreign exchange contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Net gain (loss) from equity investments [Member] | Credit contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Net gain (loss) from trading activities [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | (4,867) | 5,667 | (3,037) |
Customer accommodation trading and other derivatives [Member] | Net gain (loss) from trading activities [Member] | Interest contracts [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | (95) | 446 | 160 |
Customer accommodation trading and other derivatives [Member] | Net gain (loss) from trading activities [Member] | Commodity contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 164 | 83 | 178 |
Customer accommodation trading and other derivatives [Member] | Net gain (loss) from trading activities [Member] | Equity contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | (4,863) | 4,499 | (3,932) |
Customer accommodation trading and other derivatives [Member] | Net gain (loss) from trading activities [Member] | Foreign exchange contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 47 | 638 | 638 |
Customer accommodation trading and other derivatives [Member] | Net gain (loss) from trading activities [Member] | Credit contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | (120) | 1 | (81) |
Customer accommodation trading and other derivatives [Member] | Other [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | (484) | (403) | 1 |
Customer accommodation trading and other derivatives [Member] | Other [Member] | Interest contracts [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Other [Member] | Commodity contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Other [Member] | Equity contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | (484) | (403) | 1 |
Customer accommodation trading and other derivatives [Member] | Other [Member] | Foreign exchange contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Other [Member] | Credit contract [Member] | |||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||
Gain (loss) on derivatives not designated as hedging instruments | $ 0 | $ 0 | $ 0 |
Derivatives, Sold and Purchased
Derivatives, Sold and Purchased Credit Derivatives (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value asset | $ 12 | $ 76 |
Fair value liability | 65 | 182 |
Notional amount Protection sold | 12,215 | 11,741 |
Notional amount Protection purchased with identical underlyings | 2,835 | 3,898 |
Notional Net protection sold | 9,380 | 7,843 |
Notional Other protection purchased | 22,595 | 17,082 |
Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | 6,742 | 6,629 |
Corporate bonds [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value asset | 8 | 38 |
Fair value liability | 1 | 59 |
Notional amount Protection sold | 2,855 | 2,037 |
Notional amount Protection purchased with identical underlyings | 1,885 | 1,374 |
Notional Net protection sold | 970 | 663 |
Notional Other protection purchased | $ 2,447 | $ 1,460 |
Corporate bonds [Member] | Minimum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Jan. 1, 2020 | Jan. 1, 2019 |
Corporate bonds [Member] | Maximum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Dec. 31, 2029 | Dec. 31, 2027 |
Corporate bonds [Member] | Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | $ 707 | $ 441 |
Structured products [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value asset | 0 | 0 |
Fair value liability | 25 | 62 |
Notional amount Protection sold | 74 | 133 |
Notional amount Protection purchased with identical underlyings | 63 | 121 |
Notional Net protection sold | 11 | 12 |
Notional Other protection purchased | $ 111 | $ 113 |
Structured products [Member] | Minimum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Jan. 1, 2022 | Jan. 1, 2022 |
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 | $ 69 | $ 128 |
Default swap [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value asset | 1 | 37 |
Fair value liability | 0 | 1 |
Notional amount Protection sold | 2,542 | 3,618 |
Notional amount Protection purchased with identical underlyings | 550 | 1,998 |
Notional Net protection sold | 1,992 | 1,620 |
Notional Other protection purchased | $ 8,105 | $ 2,896 |
Default swap [Member] | Minimum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Jan. 1, 2020 | Jan. 1, 2019 |
Default swap [Member] | Maximum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Dec. 31, 2029 | Dec. 31, 2028 |
Default swap [Member] | Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | $ 120 | $ 582 |
Commercial [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value asset | 3 | 1 |
Fair value liability | 26 | 49 |
Notional amount Protection sold | 322 | 389 |
Notional amount Protection purchased with identical underlyings | 296 | 363 |
Notional Net protection sold | 26 | 26 |
Notional Other protection purchased | $ 50 | $ 51 |
Commercial [Member] | Minimum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Jan. 1, 2047 | Jan. 1, 2047 |
Commercial [Member] | Maximum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Dec. 31, 2058 | Dec. 31, 2058 |
Commercial [Member] | Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | $ 67 | $ 109 |
Asset-backed securities [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value asset | 0 | 0 |
Fair value liability | 8 | 9 |
Notional amount Protection sold | 41 | 42 |
Notional amount Protection purchased with identical underlyings | 41 | 42 |
Notional Net protection sold | 0 | 0 |
Notional Other protection purchased | $ 1 | $ 1 |
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 | $ 41 | $ 42 |
Other credit derivatives [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value asset | 0 | 0 |
Fair value liability | 5 | 2 |
Notional amount Protection sold | 6,381 | 5,522 |
Notional amount Protection purchased with identical underlyings | 0 | 0 |
Notional Net protection sold | 6,381 | 5,522 |
Notional Other protection purchased | $ 11,881 | $ 12,561 |
Other credit derivatives [Member] | Minimum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Jan. 1, 2020 | Jan. 1, 2018 |
Other credit derivatives [Member] | Maximum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Dec. 31, 2049 | Dec. 31, 2048 |
Other credit derivatives [Member] | Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | $ 5,738 | $ 5,327 |
Derivatives Derivatives, Credit
Derivatives Derivatives, Credit-Risk Contingent Feature Textuals (Details) - USD ($) $ in Billions | Dec. 31, 2019 | Dec. 31, 2018 |
Derivatives [Abstract] | ||
Net derivative liabilities with credit-risk contingent features | $ 10.4 | $ 7.4 |
Collateral posted | 9.1 | 5.6 |
Additional collateral to be posted upon a below investment grade credit rating (1) | $ 1.3 | $ 1.8 |
Fair Value, Measurements From B
Fair Value, Measurements From Brokers or Third Party Pricing Services (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Financial assets | ||
Trading debt securities | $ 79,733 | $ 69,989 |
Available-for-sale, at fair value | 263,459 | 269,912 |
Marketable equity securities | 41,936 | 29,556 |
Equity securities | 68,241 | 55,148 |
Derivative asset | 39,326 | 34,560 |
Financial liabilities | ||
Derivative liabilities | (37,930) | (32,047) |
Securities of U.S. Treasury and federal agencies [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 14,960 | 13,348 |
Securities of U.S. states and political subdivisions [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 40,337 | 49,264 |
Mortgage-backed securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 167,214 | 160,203 |
Other debt securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 4,690 | 5,483 |
Brokers [Member] | Fair value, inputs, level 2 [Member] | Other debt securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 45 | 45 |
Brokers [Member] | Fair value, inputs, level 3 [Member] | Other debt securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 126 | 129 |
Third-party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial assets | ||
Derivative asset | 12 | 17 |
Financial liabilities | ||
Derivative liabilities | (11) | (12) |
Third-party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Debt securities [Member] | ||
Financial assets | ||
Trading debt securities | 634 | 899 |
Available-for-sale, at fair value | 13,460 | 10,399 |
Third-party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 13,460 | 10,399 |
Third-party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 0 | 0 |
Third-party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-backed securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 0 | 0 |
Third-party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Other debt securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 0 | 0 |
Third-party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Equity securities [Member] | ||
Financial assets | ||
Equity securities | 0 | 0 |
Third-party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Marketable equity securities [Member] | ||
Financial assets | ||
Marketable equity securities | 0 | 0 |
Third-party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Nonmarketable equity securities [Member] | ||
Financial assets | ||
Nonmarketable equity securities | 0 | 0 |
Third-party pricing services [Member] | Fair value, inputs, level 2 [Member] | ||
Financial assets | ||
Derivative asset | 1 | 0 |
Financial liabilities | ||
Derivative liabilities | (3) | 0 |
Third-party pricing services [Member] | Fair value, inputs, level 2 [Member] | Debt securities [Member] | ||
Financial assets | ||
Trading debt securities | 329 | 256 |
Available-for-sale, at fair value | 246,607 | 255,780 |
Third-party pricing services [Member] | Fair value, inputs, level 2 [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 1,500 | 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, at fair value | 39,868 | 48,377 |
Third-party pricing services [Member] | Fair value, inputs, level 2 [Member] | Mortgage-backed securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 167,172 | 160,162 |
Third-party pricing services [Member] | Fair value, inputs, level 2 [Member] | Other debt securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 38,067 | 44,292 |
Third-party pricing services [Member] | Fair value, inputs, level 2 [Member] | Equity securities [Member] | ||
Financial assets | ||
Equity securities | 110 | 159 |
Third-party pricing services [Member] | Fair value, inputs, level 2 [Member] | Marketable equity securities [Member] | ||
Financial assets | ||
Marketable equity securities | 110 | 158 |
Third-party pricing services [Member] | Fair value, inputs, level 2 [Member] | Nonmarketable equity securities [Member] | ||
Financial assets | ||
Nonmarketable equity securities | 0 | 1 |
Third-party pricing services [Member] | Fair value, inputs, level 3 [Member] | ||
Financial assets | ||
Derivative asset | 0 | 0 |
Financial liabilities | ||
Derivative liabilities | 0 | 0 |
Third-party pricing services [Member] | Fair value, inputs, level 3 [Member] | Debt securities [Member] | ||
Financial assets | ||
Trading debt securities | 0 | 0 |
Available-for-sale, at fair value | 726 | 842 |
Third-party pricing services [Member] | Fair value, inputs, level 3 [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 0 | 0 |
Third-party pricing services [Member] | Fair value, inputs, level 3 [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 34 | 43 |
Third-party pricing services [Member] | Fair value, inputs, level 3 [Member] | Mortgage-backed securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 42 | 41 |
Third-party pricing services [Member] | Fair value, inputs, level 3 [Member] | Other debt securities [Member] | ||
Financial assets | ||
Available-for-sale, at fair value | 650 | 758 |
Third-party pricing services [Member] | Fair value, inputs, level 3 [Member] | Equity securities [Member] | ||
Financial assets | ||
Equity securities | 0 | 0 |
Third-party pricing services [Member] | Fair value, inputs, level 3 [Member] | Marketable equity securities [Member] | ||
Financial assets | ||
Marketable equity securities | 0 | 0 |
Third-party pricing services [Member] | Fair value, inputs, level 3 [Member] | Nonmarketable equity securities [Member] | ||
Financial assets | ||
Nonmarketable equity 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 | Dec. 31, 2019 | Dec. 31, 2018 |
Assets: | ||
Trading debt securities | $ 79,733 | $ 69,989 |
Available-for-sale, at fair value | 263,459 | 269,912 |
Mortgage servicing rights | 11,517 | 14,649 |
Fair value asset derivatives | 39,326 | 34,560 |
Net amounts in consolidated balance sheet, asset | 14,203 | 10,770 |
Marketable equity securities | 41,936 | 29,556 |
Equity securities | 68,241 | 55,148 |
Liabilities: | ||
Total derivative liabilities | (37,930) | (32,047) |
Net amounts in consolidated balance sheet, liability | (9,079) | (8,499) |
Interest rate contract [Member] | ||
Assets: | ||
Net amounts in consolidated balance sheet, asset | 9,169 | 6,406 |
Liabilities: | ||
Net amounts in consolidated balance sheet, liability | (2,771) | (3,156) |
Commodity contract [Member] | ||
Assets: | ||
Net amounts in consolidated balance sheet, asset | 533 | 739 |
Liabilities: | ||
Net amounts in consolidated balance sheet, liability | (1,093) | (1,609) |
Equity contract [Member] | ||
Assets: | ||
Net amounts in consolidated balance sheet, asset | 2,966 | 2,227 |
Liabilities: | ||
Net amounts in consolidated balance sheet, liability | (3,817) | (2,133) |
Foreign exchange contract [Member] | ||
Assets: | ||
Net amounts in consolidated balance sheet, asset | 1,492 | 1,359 |
Liabilities: | ||
Net amounts in consolidated balance sheet, liability | (1,381) | (1,591) |
Securities of U.S. Treasury and federal agencies [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 14,960 | 13,348 |
Securities of U.S. states and political subdivisions [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 40,337 | 49,264 |
Mortgage-backed securities [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 167,214 | 160,203 |
Federal agencies [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 162,453 | 153,203 |
Residential [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 827 | 2,775 |
Commercial [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 3,934 | 4,225 |
Corporate debt securities [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 6,563 | 6,271 |
Collateralized loan obligations [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 29,695 | 35,343 |
Other debt securities [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 4,690 | 5,483 |
Fair Value, Recurring [Member] | ||
Assets: | ||
Mortgage loans held for sale | 16,606 | 11,771 |
Loans held for sale | 972 | 1,469 |
Loans | 171 | 244 |
Mortgage servicing rights | 11,517 | 14,649 |
Fair value asset derivatives, netting | (25,123) | (23,790) |
Net amounts in consolidated balance sheet, asset | 14,203 | 10,770 |
Total assets included in the fair value hierarchy | 428,451 | 408,258 |
Total assets recorded at fair value | 428,597 | 408,360 |
Liabilities: | ||
Fair value liability derivatives, netting | 28,851 | 23,548 |
Net amounts in consolidated balance sheet, liability | (9,079) | (8,499) |
Total short sale liabilities | (17,430) | (19,720) |
Other liabilities | (2) | (2) |
Total liabilities recorded at fair value | (26,511) | (28,221) |
Fair Value, Recurring [Member] | Interest rate contract [Member] | ||
Assets: | ||
Fair value asset derivatives | 24,047 | 18,435 |
Liabilities: | ||
Total derivative liabilities | (19,366) | (16,308) |
Fair Value, Recurring [Member] | Commodity contract [Member] | ||
Assets: | ||
Fair value asset derivatives | 1,421 | 1,588 |
Liabilities: | ||
Total derivative liabilities | (1,770) | (2,336) |
Fair Value, Recurring [Member] | Equity contract [Member] | ||
Assets: | ||
Fair value asset derivatives | 8,536 | 7,545 |
Liabilities: | ||
Total derivative liabilities | (10,464) | (6,010) |
Fair Value, Recurring [Member] | Foreign exchange contract [Member] | ||
Assets: | ||
Fair value asset derivatives | 5,214 | 6,714 |
Liabilities: | ||
Total derivative liabilities | (6,247) | (7,113) |
Fair Value, Recurring [Member] | Credit contract [Member] | ||
Assets: | ||
Fair value asset derivatives | 108 | 278 |
Liabilities: | ||
Total derivative liabilities | (83) | (280) |
Fair Value, Recurring [Member] | Debt securities [Member] | ||
Assets: | ||
Trading debt securities | 79,733 | 69,989 |
Available-for-sale, at fair value | 263,459 | 269,912 |
Fair Value, Recurring [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Assets: | ||
Trading debt securities | 36,717 | 23,417 |
Available-for-sale, at fair value | 14,960 | 13,348 |
Liabilities: | ||
Total short sale liabilities | (9,066) | (12,261) |
Fair Value, Recurring [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Assets: | ||
Trading debt securities | 2,434 | 3,275 |
Available-for-sale, at fair value | 40,337 | 49,264 |
Fair Value, Recurring [Member] | Other trading debt securities [Member] | ||
Assets: | ||
Trading debt securities | 7 | 22 |
Fair Value, Recurring [Member] | Mortgage-backed securities [Member] | ||
Assets: | ||
Trading debt securities | 27,712 | 30,715 |
Available-for-sale, at fair value | 167,214 | 160,203 |
Fair Value, Recurring [Member] | Federal agencies [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 162,453 | 153,203 |
Fair Value, Recurring [Member] | Residential [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 827 | 2,775 |
Fair Value, Recurring [Member] | Commercial [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 3,934 | 4,225 |
Fair Value, Recurring [Member] | Mortgage backed securities, other [Member] | ||
Liabilities: | ||
Total short sale liabilities | (2) | (47) |
Fair Value, Recurring [Member] | Corporate debt securities [Member] | ||
Assets: | ||
Trading debt securities | 11,044 | 10,757 |
Available-for-sale, at fair value | 6,563 | 6,271 |
Liabilities: | ||
Total short sale liabilities | (5,915) | (4,505) |
Fair Value, Recurring [Member] | Collateralized loan obligations [Member] | ||
Assets: | ||
Trading debt securities | 738 | 910 |
Available-for-sale, at fair value | 29,695 | 35,343 |
Fair Value, Recurring [Member] | Asset-backed securities [Member] | ||
Assets: | ||
Trading debt securities | 1,081 | 893 |
Available-for-sale, at fair value | 4,689 | 5,482 |
Fair Value, Recurring [Member] | Auto loans and leases [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 951 | 925 |
Fair Value, Recurring [Member] | Home equity loans [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 0 | 112 |
Fair Value, Recurring [Member] | Other asset-backed securities [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 3,738 | 4,445 |
Fair Value, Recurring [Member] | Other debt securities [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 1 | 1 |
Fair Value, Recurring [Member] | Equity securities [Member] | ||
Assets: | ||
Equity securities | 41,790 | 29,454 |
Liabilities: | ||
Total short sale liabilities | (2,447) | (2,904) |
Fair Value, Recurring [Member] | Marketable equity securities [Member] | ||
Assets: | ||
Marketable equity securities | 33,921 | 23,962 |
Fair Value, Recurring [Member] | Nonmarketable equity securities [Member] | ||
Assets: | ||
Nonmarketable equity securities | 7,869 | 5,492 |
Fair Value, Recurring [Member] | Other securities sold, not yet purchased [Member] | ||
Liabilities: | ||
Total short sale liabilities | 0 | (3) |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets: | ||
Mortgage loans held for sale | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Fair value asset derivatives, netting | 0 | 0 |
Net amounts in consolidated balance sheet, asset | 2,984 | 1,711 |
Total assets included in the fair value hierarchy | 82,518 | 55,874 |
Liabilities: | ||
Fair value liability derivatives, netting | 0 | 0 |
Net amounts in consolidated balance sheet, liability | (2,045) | (1,525) |
Total short sale liabilities | (11,482) | (14,752) |
Other liabilities | 0 | 0 |
Total liabilities recorded at fair value | (13,527) | (16,277) |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Interest rate contract [Member] | ||
Assets: | ||
Fair value asset derivatives | 26 | 46 |
Liabilities: | ||
Total derivative liabilities | (23) | (21) |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Commodity contract [Member] | ||
Assets: | ||
Fair value asset derivatives | 0 | 0 |
Liabilities: | ||
Total derivative liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Equity contract [Member] | ||
Assets: | ||
Fair value asset derivatives | 2,946 | 1,648 |
Liabilities: | ||
Total derivative liabilities | (2,011) | (1,492) |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Foreign exchange contract [Member] | ||
Assets: | ||
Fair value asset derivatives | 12 | 17 |
Liabilities: | ||
Total derivative liabilities | (11) | (12) |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Credit contract [Member] | ||
Assets: | ||
Fair value asset derivatives | 0 | 0 |
Liabilities: | ||
Total derivative liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Debt securities [Member] | ||
Assets: | ||
Trading debt securities | 32,335 | 20,525 |
Available-for-sale, at fair value | 13,497 | 10,433 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Assets: | ||
Trading debt securities | 32,335 | 20,525 |
Available-for-sale, at fair value | 13,460 | 10,399 |
Liabilities: | ||
Total short sale liabilities | (9,035) | (11,850) |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Assets: | ||
Trading debt securities | 0 | 0 |
Available-for-sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other trading debt securities [Member] | ||
Assets: | ||
Trading debt securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-backed securities [Member] | ||
Assets: | ||
Trading debt securities | 0 | 0 |
Available-for-sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Federal agencies [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Residential [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Commercial [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage backed securities, other [Member] | ||
Liabilities: | ||
Total short sale liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate debt securities [Member] | ||
Assets: | ||
Trading debt securities | 0 | 0 |
Available-for-sale, at fair value | 37 | 34 |
Liabilities: | ||
Total short sale liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Collateralized loan obligations [Member] | ||
Assets: | ||
Trading debt securities | 0 | 0 |
Available-for-sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Asset-backed securities [Member] | ||
Assets: | ||
Trading debt securities | 0 | 0 |
Available-for-sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Auto loans and leases [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Home equity loans [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other asset-backed securities [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other debt securities [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Equity securities [Member] | ||
Assets: | ||
Equity securities | 33,702 | 23,205 |
Liabilities: | ||
Total short sale liabilities | (2,447) | (2,902) |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Marketable equity securities [Member] | ||
Assets: | ||
Marketable equity securities | 33,702 | 23,205 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Nonmarketable equity securities [Member] | ||
Assets: | ||
Nonmarketable equity securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other securities sold, not yet purchased [Member] | ||
Liabilities: | ||
Total short sale liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | ||
Assets: | ||
Mortgage loans held for sale | 15,408 | 10,774 |
Loans held for sale | 956 | 1,409 |
Loans | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Fair value asset derivatives, netting | 0 | 0 |
Net amounts in consolidated balance sheet, asset | 34,586 | 31,279 |
Total assets included in the fair value hierarchy | 346,760 | 350,852 |
Liabilities: | ||
Fair value liability derivatives, netting | 0 | 0 |
Net amounts in consolidated balance sheet, liability | (34,069) | (28,973) |
Total short sale liabilities | (5,948) | (4,968) |
Other liabilities | 0 | 0 |
Total liabilities recorded at fair value | (40,017) | (33,941) |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | Interest rate contract [Member] | ||
Assets: | ||
Fair value asset derivatives | 23,792 | 18,294 |
Liabilities: | ||
Total derivative liabilities | (19,328) | (16,217) |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | Commodity contract [Member] | ||
Assets: | ||
Fair value asset derivatives | 1,413 | 1,535 |
Liabilities: | ||
Total derivative liabilities | (1,746) | (2,287) |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | Equity contract [Member] | ||
Assets: | ||
Fair value asset derivatives | 4,135 | 4,582 |
Liabilities: | ||
Total derivative liabilities | (6,729) | (3,186) |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | Foreign exchange contract [Member] | ||
Assets: | ||
Fair value asset derivatives | 5,197 | 6,689 |
Liabilities: | ||
Total derivative liabilities | (6,213) | (7,067) |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | Credit contract [Member] | ||
Assets: | ||
Fair value asset derivatives | 49 | 179 |
Liabilities: | ||
Total derivative liabilities | (53) | (216) |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | Debt securities [Member] | ||
Assets: | ||
Trading debt securities | 47,175 | 49,174 |
Available-for-sale, at fair value | 248,397 | 257,435 |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Assets: | ||
Trading debt securities | 4,382 | 2,892 |
Available-for-sale, at fair value | 1,500 | 2,949 |
Liabilities: | ||
Total short sale liabilities | (31) | (411) |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Assets: | ||
Trading debt securities | 2,434 | 3,272 |
Available-for-sale, at fair value | 39,924 | 48,820 |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | Other trading debt securities [Member] | ||
Assets: | ||
Trading debt securities | 5 | 6 |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | Mortgage-backed securities [Member] | ||
Assets: | ||
Trading debt securities | 27,712 | 30,715 |
Available-for-sale, at fair value | 167,172 | 160,162 |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | Federal agencies [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 162,453 | 153,203 |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | Residential [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 827 | 2,775 |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | Commercial [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 3,892 | 4,184 |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | Mortgage backed securities, other [Member] | ||
Liabilities: | ||
Total short sale liabilities | (2) | (47) |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | Corporate debt securities [Member] | ||
Assets: | ||
Trading debt securities | 11,006 | 10,723 |
Available-for-sale, at fair value | 6,159 | 5,867 |
Liabilities: | ||
Total short sale liabilities | (5,915) | (4,505) |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | Collateralized loan obligations [Member] | ||
Assets: | ||
Trading debt securities | 555 | 673 |
Available-for-sale, at fair value | 29,055 | 34,543 |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | Asset-backed securities [Member] | ||
Assets: | ||
Trading debt securities | 1,081 | 893 |
Available-for-sale, at fair value | 4,586 | 5,093 |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | Auto loans and leases [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 951 | 925 |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | Home equity loans [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 0 | 112 |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | Other asset-backed securities [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 3,635 | 4,056 |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | Other debt securities [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 1 | 1 |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | Equity securities [Member] | ||
Assets: | ||
Equity securities | 238 | 781 |
Liabilities: | ||
Total short sale liabilities | 0 | (2) |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | Marketable equity securities [Member] | ||
Assets: | ||
Marketable equity securities | 216 | 757 |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | Nonmarketable equity securities [Member] | ||
Assets: | ||
Nonmarketable equity securities | 22 | 24 |
Fair Value, Recurring [Member] | Fair value, inputs, level 2 [Member] | Other securities sold, not yet purchased [Member] | ||
Liabilities: | ||
Total short sale liabilities | 0 | (3) |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | ||
Assets: | ||
Mortgage loans held for sale | 1,198 | 997 |
Loans held for sale | 16 | 60 |
Loans | 171 | 244 |
Mortgage servicing rights | 11,517 | 14,649 |
Fair value asset derivatives, netting | 0 | 0 |
Net amounts in consolidated balance sheet, asset | 1,756 | 1,570 |
Total assets included in the fair value hierarchy | 24,296 | 25,322 |
Total assets recorded at fair value | 24,300 | 25,300 |
Liabilities: | ||
Fair value liability derivatives, netting | 0 | 0 |
Net amounts in consolidated balance sheet, liability | (1,816) | (1,549) |
Total short sale liabilities | 0 | 0 |
Other liabilities | (2) | (2) |
Total liabilities recorded at fair value | (1,818) | (1,551) |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | Interest rate contract [Member] | ||
Assets: | ||
Fair value asset derivatives | 229 | 95 |
Liabilities: | ||
Total derivative liabilities | (15) | (70) |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | Commodity contract [Member] | ||
Assets: | ||
Fair value asset derivatives | 8 | 53 |
Liabilities: | ||
Total derivative liabilities | (24) | (49) |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | Equity contract [Member] | ||
Assets: | ||
Fair value asset derivatives | 1,455 | 1,315 |
Liabilities: | ||
Total derivative liabilities | (1,724) | (1,332) |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | Foreign exchange contract [Member] | ||
Assets: | ||
Fair value asset derivatives | 5 | 8 |
Liabilities: | ||
Total derivative liabilities | (23) | (34) |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | Credit contract [Member] | ||
Assets: | ||
Fair value asset derivatives | 59 | 99 |
Liabilities: | ||
Total derivative liabilities | (30) | (64) |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | Debt securities [Member] | ||
Assets: | ||
Trading debt securities | 223 | 290 |
Available-for-sale, at fair value | 1,565 | 2,044 |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Assets: | ||
Trading debt securities | 0 | 0 |
Available-for-sale, at fair value | 0 | 0 |
Liabilities: | ||
Total short sale liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Assets: | ||
Trading debt securities | 0 | 3 |
Available-for-sale, at fair value | 413 | 444 |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | Other trading debt securities [Member] | ||
Assets: | ||
Trading debt securities | 2 | 16 |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | Mortgage-backed securities [Member] | ||
Assets: | ||
Trading debt securities | 0 | 0 |
Available-for-sale, at fair value | 42 | 41 |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | Federal agencies [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | Residential [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | Commercial [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 42 | 41 |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | Mortgage backed securities, other [Member] | ||
Liabilities: | ||
Total short sale liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | Corporate debt securities [Member] | ||
Assets: | ||
Trading debt securities | 38 | 34 |
Available-for-sale, at fair value | 367 | 370 |
Liabilities: | ||
Total short sale liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | Collateralized loan obligations [Member] | ||
Assets: | ||
Trading debt securities | 183 | 237 |
Available-for-sale, at fair value | 640 | 800 |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | Asset-backed securities [Member] | ||
Assets: | ||
Trading debt securities | 0 | 0 |
Available-for-sale, at fair value | 103 | 389 |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | Auto loans and leases [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | Home equity loans [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | Other asset-backed securities [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 103 | 389 |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | Other debt securities [Member] | ||
Assets: | ||
Available-for-sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | Equity securities [Member] | ||
Assets: | ||
Equity securities | 7,850 | 5,468 |
Liabilities: | ||
Total short sale liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | Marketable equity securities [Member] | ||
Assets: | ||
Marketable equity securities | 3 | 0 |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | Nonmarketable equity securities [Member] | ||
Assets: | ||
Nonmarketable equity securities | 7,847 | 5,468 |
Fair Value, Recurring [Member] | Fair value, inputs, level 3 [Member] | Other securities sold, not yet purchased [Member] | ||
Liabilities: | ||
Total short sale liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Fair value measured at net asset value per share [Member] | Nonmarketable equity securities [Member] | ||
Assets: | ||
Nonmarketable equity securities | $ 146 | $ 102 |
Fair Value, Assets and Liabil_2
Fair Value, Assets and Liabilities Measured on Recurring Basis Level 3 Reconciliation (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Equity securities [Member] | |||
Assets: | |||
Balance, beginning of period | $ 5,468 | $ 3,259 | |
Net gains (losses) included in net income | 2,383 | $ 703 | 1,563 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (1) | (450) | (2) |
Transfers into Level 3 | 12 | 16 | 1 |
Transfers out of Level 3 | (12) | (4) | 0 |
Balance, end of period | 7,850 | 5,468 | |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 2,386 | 642 | 1,569 |
Equity securities [Member] | Previously reported [Member] | |||
Assets: | |||
Balance, beginning of period | 4,821 | ||
Balance, end of period | 4,821 | ||
Equity securities [Member] | Restatement adjustment [Member] | |||
Assets: | |||
Balance, beginning of period | 5,203 | ||
Balance, end of period | 5,203 | ||
Marketable equity securities [Member] | |||
Assets: | |||
Balance, beginning of period | 0 | 0 | |
Net gains (losses) included in net income | 0 | 0 | 0 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 0 | 0 |
Transfers into Level 3 | 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 |
Balance, end of period | 3 | 0 | |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 |
Marketable equity securities [Member] | Previously reported [Member] | |||
Assets: | |||
Balance, beginning of period | 0 | ||
Balance, end of period | 0 | ||
Marketable equity securities [Member] | Restatement adjustment [Member] | |||
Assets: | |||
Balance, beginning of period | 0 | 0 | |
Balance, end of period | 0 | 0 | |
Nonmarketable equity securities [Member] | |||
Assets: | |||
Balance, beginning of period | 5,468 | 3,259 | |
Net gains (losses) included in net income | 2,383 | 703 | 1,563 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (1) | (450) | (2) |
Transfers into Level 3 | 9 | 16 | 1 |
Transfers out of Level 3 | (12) | (4) | 0 |
Balance, end of period | 7,847 | 5,468 | |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 2,386 | 642 | 1,569 |
Nonmarketable equity securities [Member] | Previously reported [Member] | |||
Assets: | |||
Balance, beginning of period | 4,821 | ||
Balance, end of period | 4,821 | ||
Nonmarketable equity securities [Member] | Restatement adjustment [Member] | |||
Assets: | |||
Balance, beginning of period | 5,203 | ||
Balance, end of period | 5,203 | ||
Auction rate securities [Member] | Restatement adjustment [Member] | Accounting Standards Update 2016-01 [Member] | |||
Assets: | |||
Balance, beginning of period | 382 | ||
Balance, end of period | 382 | ||
Trading debt securities [Member] | Debt securities [Member] | |||
Assets: | |||
Balance, beginning of period | 290 | 407 | 374 |
Net gains (losses) included in net income | (31) | (16) | (4) |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (28) | (85) | 35 |
Transfers into Level 3 | 1 | 0 | 6 |
Transfers out of Level 3 | (9) | (16) | (4) |
Balance, end of period | 223 | 290 | 407 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (31) | (15) | (15) |
Trading debt securities [Member] | Securities of U.S. states and political subdivisions [Member] | |||
Assets: | |||
Balance, beginning of period | 3 | 3 | 3 |
Net gains (losses) included in net income | 0 | 0 | 0 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (2) | 0 | 0 |
Transfers into Level 3 | 0 | 0 | 0 |
Transfers out of Level 3 | (1) | 0 | 0 |
Balance, end of period | 0 | 3 | 3 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 |
Trading debt securities [Member] | Corporate debt securities [Member] | |||
Assets: | |||
Balance, beginning of period | 34 | 31 | 34 |
Net gains (losses) included in net income | 3 | (1) | 2 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 6 | 16 | (7) |
Transfers into Level 3 | 1 | 0 | 6 |
Transfers out of Level 3 | (6) | (12) | (4) |
Balance, end of period | 38 | 34 | 31 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 5 | (1) | 2 |
Trading debt securities [Member] | Collateralized loan obligations [Member] | |||
Assets: | |||
Balance, beginning of period | 237 | 354 | 309 |
Net gains (losses) included in net income | (30) | (12) | 3 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (22) | (101) | 42 |
Transfers into Level 3 | 0 | 0 | 0 |
Transfers out of Level 3 | (2) | (4) | 0 |
Balance, end of period | 183 | 237 | 354 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (35) | (14) | (13) |
Trading debt securities [Member] | Other trading debt securities [Member] | |||
Assets: | |||
Balance, beginning of period | 16 | 19 | 28 |
Net gains (losses) included in net income | (4) | (3) | (9) |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (10) | 0 | 0 |
Transfers into Level 3 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 |
Balance, end of period | 2 | 16 | 19 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (1) | 0 | (4) |
Available-for-sale securities [Member] | Debt securities [Member] | |||
Assets: | |||
Balance, beginning of period | 2,044 | 2,994 | 3,505 |
Net gains (losses) included in net income | 34 | 89 | 22 |
Net gains (losses) included in other comprehensive income | (40) | (18) | 134 |
Purchases, sales, issuances and settlements, net | (277) | (677) | 662 |
Transfers into Level 3 | 6 | 0 | 5 |
Transfers out of Level 3 | (202) | (344) | (1,334) |
Balance, end of period | 1,565 | 2,044 | 2,994 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (4) | (4) | (11) |
Available-for-sale securities [Member] | Securities of U.S. states and political subdivisions [Member] | |||
Assets: | |||
Balance, beginning of period | 444 | 925 | 1,140 |
Net gains (losses) included in net income | 2 | 8 | 4 |
Net gains (losses) included in other comprehensive income | 2 | (8) | 5 |
Purchases, sales, issuances and settlements, net | 14 | (137) | 1,105 |
Transfers into Level 3 | 0 | 0 | 5 |
Transfers out of Level 3 | (49) | (344) | (1,334) |
Balance, end of period | 413 | 444 | 925 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 |
Available-for-sale securities [Member] | Mortgage-backed securities [Member] | |||
Assets: | |||
Balance, beginning of period | 41 | 76 | 92 |
Net gains (losses) included in net income | 0 | 0 | (4) |
Net gains (losses) included in other comprehensive income | 0 | (1) | 0 |
Purchases, sales, issuances and settlements, net | (5) | (34) | (12) |
Transfers into Level 3 | 6 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 |
Balance, end of period | 42 | 41 | 76 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | (1) | (11) |
Available-for-sale securities [Member] | Residential [Member] | |||
Assets: | |||
Balance, beginning of period | 0 | 1 | 1 |
Net gains (losses) included in net income | 0 | 0 | 0 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | (1) | 0 |
Transfers into Level 3 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 |
Balance, end of period | 0 | 0 | 1 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 |
Available-for-sale securities [Member] | Commercial [Member] | |||
Assets: | |||
Balance, beginning of period | 41 | 75 | 91 |
Net gains (losses) included in net income | 0 | 0 | (4) |
Net gains (losses) included in other comprehensive income | 0 | (1) | 0 |
Purchases, sales, issuances and settlements, net | (5) | (33) | (12) |
Transfers into Level 3 | 6 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 |
Balance, end of period | 42 | 41 | 75 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | (1) | (11) |
Available-for-sale securities [Member] | Corporate debt securities [Member] | |||
Assets: | |||
Balance, beginning of period | 370 | 407 | 432 |
Net gains (losses) included in net income | 3 | 4 | (1) |
Net gains (losses) included in other comprehensive income | (5) | (3) | 23 |
Purchases, sales, issuances and settlements, net | (1) | (38) | (47) |
Transfers into Level 3 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 |
Balance, end of period | 367 | 370 | 407 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (4) | 0 | 0 |
Available-for-sale securities [Member] | Collateralized loan obligations [Member] | |||
Assets: | |||
Balance, beginning of period | 800 | 1,020 | 879 |
Net gains (losses) included in net income | 29 | 72 | 22 |
Net gains (losses) included in other comprehensive income | (37) | 5 | 103 |
Purchases, sales, issuances and settlements, net | (152) | (297) | 16 |
Transfers into Level 3 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 |
Balance, end of period | 640 | 800 | 1,020 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 |
Available-for-sale securities [Member] | Asset-backed securities [Member] | |||
Assets: | |||
Balance, beginning of period | 389 | 566 | 962 |
Net gains (losses) included in net income | 0 | 5 | 1 |
Net gains (losses) included in other comprehensive income | 0 | (11) | 3 |
Purchases, sales, issuances and settlements, net | (133) | (171) | (400) |
Transfers into Level 3 | 0 | 0 | 0 |
Transfers out of Level 3 | (153) | 0 | 0 |
Balance, end of period | 103 | 389 | 566 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | (3) | 0 |
Fair Value Disclosures, Textual [Abstract] | |||
Securities transferred to loans | 153 | ||
Available-for-sale securities [Member] | Other asset-backed securities [Member] | |||
Assets: | |||
Balance, beginning of period | 389 | 566 | 962 |
Net gains (losses) included in net income | 0 | 5 | 1 |
Net gains (losses) included in other comprehensive income | 0 | (11) | 3 |
Purchases, sales, issuances and settlements, net | (133) | (171) | (400) |
Transfers into Level 3 | 0 | 0 | 0 |
Transfers out of Level 3 | (153) | 0 | 0 |
Balance, end of period | 103 | 389 | 566 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | (3) | 0 |
Mortgage loans held for sale [Member] | |||
Assets: | |||
Balance, beginning of period | 997 | 998 | 985 |
Net gains (losses) included in net income | 58 | (27) | (36) |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (140) | (36) | (75) |
Transfers into Level 3 | 299 | 72 | 134 |
Transfers out of Level 3 | (16) | (10) | (10) |
Balance, end of period | 1,198 | 997 | 998 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 54 | (22) | (34) |
Loans held for sale [Member] | |||
Assets: | |||
Balance, beginning of period | 60 | 14 | 0 |
Net gains (losses) included in net income | (2) | 2 | 1 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (4) | (36) | (3) |
Transfers into Level 3 | 55 | 80 | 34 |
Transfers out of Level 3 | (93) | 0 | (18) |
Balance, end of period | 16 | 60 | 14 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (3) | 1 | 0 |
Loans [Member] | |||
Assets: | |||
Balance, beginning of period | 244 | 376 | 758 |
Net gains (losses) included in net income | 0 | (1) | (6) |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (73) | (131) | (376) |
Transfers into Level 3 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 |
Balance, end of period | 171 | 244 | 376 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (8) | (11) | (12) |
Mortgage servicing rights [Member] | |||
Assets: | |||
Balance, beginning of period | 14,649 | 13,625 | 12,959 |
Net gains (losses) included in net income | (4,779) | (915) | (2,115) |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 1,647 | 1,939 | 2,781 |
Transfers into Level 3 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 |
Balance, end of period | 11,517 | 14,649 | 13,625 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (2,569) | 960 | (126) |
Derivative [Member] | |||
Assets and Liabilities: | |||
Balance, beginning of period | 21 | (378) | (81) |
Net gains (losses) included in net income | (162) | (539) | 434 |
Total net gains (losses) included in other comprehensive income | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 29 | 865 | (723) |
Transfers into Level 3 | 8 | (8) | (51) |
Transfers out of Level 3 | 44 | 81 | 43 |
Balance, end of period | (60) | 21 | (378) |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 75 | (239) | (352) |
Derivative [Member] | Interest rate contract [Member] | |||
Assets and Liabilities: | |||
Balance, beginning of period | 25 | 71 | 121 |
Net gains (losses) included in net income | 585 | (397) | 604 |
Total net gains (losses) included in other comprehensive income | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (396) | 351 | (654) |
Transfers into Level 3 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 |
Balance, end of period | 214 | 25 | 71 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 249 | (42) | (52) |
Derivative [Member] | Commodity contract [Member] | |||
Assets and Liabilities: | |||
Balance, beginning of period | 4 | 19 | 23 |
Net gains (losses) included in net income | (203) | 3 | (17) |
Total net gains (losses) included in other comprehensive income | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 158 | (11) | 13 |
Transfers into Level 3 | 2 | (7) | 2 |
Transfers out of Level 3 | 23 | 0 | (2) |
Balance, end of period | (16) | 4 | 19 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 9 | (1) | 15 |
Derivative [Member] | Equity contract [Member] | |||
Assets and Liabilities: | |||
Balance, beginning of period | (17) | (511) | (267) |
Net gains (losses) included in net income | (571) | (108) | (199) |
Total net gains (losses) included in other comprehensive income | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 292 | 522 | (37) |
Transfers into Level 3 | 6 | (1) | (53) |
Transfers out of Level 3 | 21 | 81 | 45 |
Balance, end of period | (269) | (17) | (511) |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (186) | (169) | (259) |
Derivative [Member] | Foreign exchange contract [Member] | |||
Assets and Liabilities: | |||
Balance, beginning of period | (26) | 7 | 12 |
Net gains (losses) included in net income | 34 | (42) | (5) |
Total net gains (losses) included in other comprehensive income | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (26) | 9 | 0 |
Transfers into Level 3 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 |
Balance, end of period | (18) | (26) | 7 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 9 | (26) | 6 |
Derivative [Member] | Credit contract [Member] | |||
Assets and Liabilities: | |||
Balance, beginning of period | 35 | 36 | 77 |
Net gains (losses) included in net income | (7) | 5 | 24 |
Total net gains (losses) included in other comprehensive income | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 1 | (6) | (65) |
Transfers into Level 3 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 |
Balance, end of period | 29 | 35 | 36 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (6) | (1) | (62) |
Derivative [Member] | Other contract [Member] | |||
Assets and Liabilities: | |||
Balance, beginning of period | 0 | (47) | |
Net gains (losses) included in net income | 27 | ||
Total net gains (losses) included in other comprehensive income | 0 | ||
Purchases, sales, issuances and settlements, net | 20 | ||
Transfers into Level 3 | 0 | ||
Transfers out of Level 3 | 0 | ||
Balance, end of period | 0 | ||
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | ||
Short sale liabilities [Member] | |||
Liabilities: | |||
Balance, beginning of period | 0 | 0 | |
Net gains (losses) included in net income | 0 | ||
Net gains (losses) included in other comprehensive income | 0 | ||
Purchases, sales, issuances and settlements, net | 0 | ||
Transfers into Level 3 | 0 | ||
Transfers out of Level 3 | 0 | ||
Balance, end of period | 0 | ||
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | ||
Other liabilities [Member] | |||
Liabilities: | |||
Balance, beginning of period | (2) | (3) | (4) |
Net gains (losses) included in net income | 0 | 1 | 1 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 0 | 0 |
Transfers into Level 3 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 |
Balance, end of period | (2) | (2) | (3) |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | $ 0 | $ 0 | $ 0 |
Fair Value, Assets and Liabil_3
Fair Value, Assets and Liabilities Measured on Recurring Basis Level 3 Reconciliation Breakout (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Equity securities [Member] | |||
Assets: | |||
Purchases | $ 0 | $ 0 | $ 0 |
Sales | (1) | (51) | (2) |
Issuances | 0 | 0 | 0 |
Settlements | 0 | (399) | 0 |
Purchases, sales, issuances and settlements, net | (1) | (450) | (2) |
Marketable equity securities [Member] | |||
Assets: | |||
Purchases | 0 | 0 | |
Sales | 0 | 0 | |
Issuances | 0 | 0 | |
Settlements | 0 | 0 | |
Purchases, sales, issuances and settlements, net | 0 | 0 | 0 |
Nonmarketable equity securities [Member] | |||
Assets: | |||
Purchases | 0 | 0 | 0 |
Sales | (1) | (51) | (2) |
Issuances | 0 | 0 | 0 |
Settlements | 0 | (399) | 0 |
Purchases, sales, issuances and settlements, net | (1) | (450) | (2) |
Trading debt securities [Member] | Debt securities [Member] | |||
Assets: | |||
Purchases | 391 | 428 | 501 |
Sales | (385) | (352) | (318) |
Issuances | 0 | 0 | 0 |
Settlements | (34) | (161) | (148) |
Purchases, sales, issuances and settlements, net | (28) | (85) | 35 |
Trading debt securities [Member] | Securities of U.S. states and political subdivisions [Member] | |||
Assets: | |||
Purchases | 0 | 0 | 37 |
Sales | 0 | 0 | (36) |
Issuances | 0 | 0 | 0 |
Settlements | (2) | 0 | (1) |
Purchases, sales, issuances and settlements, net | (2) | 0 | 0 |
Trading debt securities [Member] | Corporate debt securities [Member] | |||
Assets: | |||
Purchases | 19 | 20 | 25 |
Sales | (13) | (4) | (32) |
Issuances | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 6 | 16 | (7) |
Trading debt securities [Member] | Collateralized loan obligations [Member] | |||
Assets: | |||
Purchases | 372 | 408 | 439 |
Sales | (372) | (348) | (250) |
Issuances | 0 | 0 | 0 |
Settlements | (22) | (161) | (147) |
Purchases, sales, issuances and settlements, net | (22) | (101) | 42 |
Trading debt securities [Member] | Other trading debt securities [Member] | |||
Assets: | |||
Purchases | 0 | 0 | 0 |
Sales | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 |
Settlements | (10) | 0 | 0 |
Purchases, sales, issuances and settlements, net | (10) | 0 | 0 |
Available-for-sale securities [Member] | Debt securities [Member] | |||
Assets: | |||
Purchases | 173 | 119 | 149 |
Sales | (9) | (167) | (72) |
Issuances | 302 | 245 | 1,580 |
Settlements | (743) | (874) | (995) |
Purchases, sales, issuances and settlements, net | (277) | (677) | 662 |
Available-for-sale securities [Member] | Securities of U.S. states and political subdivisions [Member] | |||
Assets: | |||
Purchases | 0 | 0 | 0 |
Sales | 0 | (6) | (68) |
Issuances | 169 | 79 | 1,369 |
Settlements | (155) | (210) | (196) |
Purchases, sales, issuances and settlements, net | 14 | (137) | 1,105 |
Available-for-sale securities [Member] | Mortgage-backed securities [Member] | |||
Assets: | |||
Purchases | 0 | 0 | 0 |
Sales | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 |
Settlements | (5) | (34) | (12) |
Purchases, sales, issuances and settlements, net | (5) | (34) | (12) |
Available-for-sale securities [Member] | Residential [Member] | |||
Assets: | |||
Purchases | 0 | 0 | 0 |
Sales | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 |
Settlements | 0 | (1) | 0 |
Purchases, sales, issuances and settlements, net | 0 | (1) | 0 |
Available-for-sale securities [Member] | Commercial [Member] | |||
Assets: | |||
Purchases | 0 | 0 | 0 |
Sales | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 |
Settlements | (5) | (33) | (12) |
Purchases, sales, issuances and settlements, net | (5) | (33) | (12) |
Available-for-sale securities [Member] | Corporate debt securities [Member] | |||
Assets: | |||
Purchases | 18 | 33 | 14 |
Sales | 0 | 0 | (4) |
Issuances | 0 | 0 | 0 |
Settlements | (19) | (71) | (57) |
Purchases, sales, issuances and settlements, net | (1) | (38) | (47) |
Available-for-sale securities [Member] | Collateralized loan obligations [Member] | |||
Assets: | |||
Purchases | 155 | 61 | 135 |
Sales | 0 | (149) | 0 |
Issuances | 0 | 0 | 0 |
Settlements | (307) | (209) | (119) |
Purchases, sales, issuances and settlements, net | (152) | (297) | 16 |
Available-for-sale securities [Member] | Asset-backed securities [Member] | |||
Assets: | |||
Purchases | 0 | 25 | 0 |
Sales | (9) | (12) | 0 |
Issuances | 133 | 166 | 211 |
Settlements | (257) | (350) | (611) |
Purchases, sales, issuances and settlements, net | (133) | (171) | (400) |
Available-for-sale securities [Member] | Other asset-backed securities [Member] | |||
Assets: | |||
Purchases | 0 | 25 | 0 |
Sales | (9) | (12) | 0 |
Issuances | 133 | 166 | 211 |
Settlements | (257) | (350) | (611) |
Purchases, sales, issuances and settlements, net | (133) | (171) | (400) |
Mortgage loans held for sale [Member] | |||
Assets: | |||
Purchases | 96 | 87 | 79 |
Sales | (235) | (320) | (485) |
Issuances | 248 | 353 | 489 |
Settlements | (249) | (156) | (158) |
Purchases, sales, issuances and settlements, net | (140) | (36) | (75) |
Loans held for sale [Member] | |||
Assets: | |||
Purchases | 12 | 4 | 0 |
Sales | (2) | (40) | (2) |
Issuances | 0 | 0 | 0 |
Settlements | (14) | 0 | (1) |
Purchases, sales, issuances and settlements, net | (4) | (36) | (3) |
Loans [Member] | |||
Assets: | |||
Purchases | 3 | 8 | 6 |
Sales | 0 | 0 | (129) |
Issuances | 10 | 17 | 19 |
Settlements | (86) | (156) | (272) |
Purchases, sales, issuances and settlements, net | (73) | (131) | (376) |
Mortgage servicing rights [Member] | |||
Assets: | |||
Purchases | 0 | 0 | 541 |
Sales | (286) | (71) | (24) |
Issuances | 1,933 | 2,010 | 2,263 |
Settlements | 0 | 0 | 1 |
Purchases, sales, issuances and settlements, net | 1,647 | 1,939 | 2,781 |
Derivative [Member] | |||
Assets and Liabilities: | |||
Purchases | 13 | 15 | 6 |
Sales | (12) | (44) | (121) |
Issuances | 0 | 0 | 0 |
Settlements | 28 | 894 | (608) |
Purchases, sales, issuances and settlements, net | 29 | 865 | (723) |
Derivative [Member] | Interest rate contract [Member] | |||
Assets and Liabilities: | |||
Purchases | 0 | 0 | 0 |
Sales | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 |
Settlements | (396) | 351 | (654) |
Purchases, sales, issuances and settlements, net | (396) | 351 | (654) |
Derivative [Member] | Commodity contract [Member] | |||
Assets and Liabilities: | |||
Purchases | 0 | 0 | 0 |
Sales | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 |
Settlements | 158 | (11) | 13 |
Purchases, sales, issuances and settlements, net | 158 | (11) | 13 |
Derivative [Member] | Equity contract [Member] | |||
Assets and Liabilities: | |||
Purchases | 0 | 3 | 0 |
Sales | 0 | (37) | (118) |
Issuances | 0 | 0 | 0 |
Settlements | 292 | 556 | 81 |
Purchases, sales, issuances and settlements, net | 292 | 522 | (37) |
Derivative [Member] | Foreign exchange contract [Member] | |||
Assets and Liabilities: | |||
Purchases | 0 | 0 | 0 |
Sales | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 |
Settlements | (26) | 9 | 0 |
Purchases, sales, issuances and settlements, net | (26) | 9 | 0 |
Derivative [Member] | Credit contract [Member] | |||
Assets and Liabilities: | |||
Purchases | 13 | 12 | 6 |
Sales | (12) | (7) | (3) |
Issuances | 0 | 0 | 0 |
Settlements | 0 | (11) | (68) |
Purchases, sales, issuances and settlements, net | 1 | (6) | (65) |
Derivative [Member] | Other contract [Member] | |||
Assets and Liabilities: | |||
Purchases | 0 | ||
Sales | 0 | ||
Issuances | 0 | ||
Settlements | 20 | ||
Purchases, sales, issuances and settlements, net | 20 | ||
Short sale liabilities [Member] | |||
Liabilities: | |||
Purchases | 3 | ||
Sales | (3) | ||
Issuances | 0 | ||
Settlements | 0 | ||
Purchases, sales, issuances and settlements, net | 0 | ||
Other liabilities [Member] | |||
Liabilities: | |||
Purchases | 0 | 0 | 0 |
Sales | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | $ 0 | $ 0 | $ 0 |
Fair Value, Assets and Liabil_4
Fair Value, Assets and Liabilities Measured on a Recurring Basis Level 3 Valuation Techniques and Significant Unobservable Inputs (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2019USD ($)$ / loan | Dec. 31, 2018USD ($)$ / loan | |
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgage servicing rights | $ 11,517 | $ 14,649 |
Recurring [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgage loans held for sale, carried at fair value | 16,606 | 11,771 |
Loans | 171 | 244 |
Mortgage servicing rights | 11,517 | 14,649 |
Fair Value Disclosures, Textual [Abstract] | ||
Total assets recorded at fair value | 428,597 | 408,360 |
Total liabilities recorded at fair value | 26,511 | 28,221 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgage loans held for sale, carried at fair value | 1,198 | 997 |
Loans | 171 | 244 |
Mortgage servicing rights | 11,517 | 14,649 |
Total insignificant level 3 assets, net of liabilities | 27 | 93 |
Assets, fair value disclosure, net of liabilities | 22,478 | 23,771 |
Fair Value Disclosures, Textual [Abstract] | ||
Total assets recorded at fair value | 24,300 | 25,300 |
Total liabilities recorded at fair value | 1,818 | 1,551 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgage loans held for sale, carried at fair value | 15 | 15 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgage loans held for sale, carried at fair value | 1,183 | 982 |
Loans | 171 | 244 |
Mortgage servicing rights | $ 11,517 | $ 14,649 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Measurement input, discount rate [Member] | Minimum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | 0.030 | 0.011 |
Loans, measurement input | 0.039 | 0.034 |
Mortgage servicing rights, measurement input | 0.060 | 0.071 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Measurement input, discount rate [Member] | Maximum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | 0.056 | 0.066 |
Loans, measurement input | 0.043 | 0.064 |
Mortgage servicing rights, measurement input | 0.136 | 0.153 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Measurement input, discount rate [Member] | Weighted average [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | 0.045 | 0.055 |
Loans, measurement input | 0.041 | 0.042 |
Mortgage servicing rights, measurement input | 0.072 | 0.081 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Measurement input, market comparable pricing [Member] | Minimum [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | (0.563) | (0.563) |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Measurement input, market comparable pricing [Member] | Maximum [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | (0.063) | (0.063) |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Measurement input, market comparable pricing [Member] | Weighted average [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | (0.403) | (0.363) |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Measurement input, default rate [Member] | Minimum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | 0 | 0 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Measurement input, default rate [Member] | Maximum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | 0.155 | 0.156 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Measurement input, default rate [Member] | Weighted average [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | 0.007 | 0.008 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Measurement input, loss severity [Member] | Minimum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | 0 | 0 |
Loans, measurement input | 0 | 0 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Measurement input, loss severity [Member] | Maximum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | 0.435 | 0.433 |
Loans, measurement input | 0.365 | 0.348 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Measurement input, loss severity [Member] | Weighted average [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | 0.217 | 0.234 |
Loans, measurement input | 0.141 | 0.102 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Measurement input, cost to service per loan [Member] | Minimum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage servicing rights, measurement input | $ / loan | 61 | 62 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Measurement input, cost to service per loan [Member] | Maximum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage servicing rights, measurement input | $ / loan | 495 | 507 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Measurement input, cost to service per loan [Member] | Weighted average [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage servicing rights, measurement input | $ / loan | 102 | 106 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Measurement input, prepayment rate [Member] | Minimum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | 0.057 | 0.032 |
Loans, measurement input | 0.060 | 0.029 |
Mortgage servicing rights, measurement input | 0.096 | 0.090 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Measurement input, prepayment rate [Member] | Maximum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | 0.154 | 0.134 |
Loans, measurement input | 1 | 1 |
Mortgage servicing rights, measurement input | 0.244 | 0.235 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Measurement input, prepayment rate [Member] | Weighted average [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | 0.078 | 0.046 |
Loans, measurement input | 0.856 | 0.872 |
Mortgage servicing rights, measurement input | 0.119 | 0.099 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Interest rate contract [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Net derivative assets and (liabilities) | $ 146 | $ (35) |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Interest rate contract [Member] | Measurement input, default rate [Member] | Minimum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0 | 0 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Interest rate contract [Member] | Measurement input, default rate [Member] | Maximum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0.050 | 0.050 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Interest rate contract [Member] | Measurement input, default rate [Member] | Weighted average [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0.017 | 0.020 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Interest rate contract [Member] | Measurement input, loss severity [Member] | Minimum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0.500 | 0.500 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Interest rate contract [Member] | Measurement input, loss severity [Member] | Maximum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0.500 | 0.500 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Interest rate contract [Member] | Measurement input, loss severity [Member] | Weighted average [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0.500 | 0.500 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Interest rate contract [Member] | Measurement input, prepayment rate [Member] | Minimum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0.028 | 0.028 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Interest rate contract [Member] | Measurement input, prepayment rate [Member] | Maximum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0.250 | 0.250 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Interest rate contract [Member] | Measurement input, prepayment rate [Member] | Weighted average [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0.150 | 0.138 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Derivative loan commitments [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Net derivative assets and (liabilities) | $ 68 | $ 60 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Derivative loan commitments [Member] | Measurement input, fall-out factor [Member] | Minimum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0.010 | 0.010 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Derivative loan commitments [Member] | Measurement input, fall-out factor [Member] | Maximum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0.990 | 0.990 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Derivative loan commitments [Member] | Measurement input, fall-out factor [Member] | Weighted average [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0.167 | 0.194 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Derivative loan commitments [Member] | Measurement input, initial-value servicing [Member] | Minimum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | (0.00322) | (0.00366) |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Derivative loan commitments [Member] | Measurement input, initial-value servicing [Member] | Maximum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0.01490 | 0.00917 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Derivative loan commitments [Member] | Measurement input, initial-value servicing [Member] | Weighted average [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0.00364 | 0.00185 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Equity contract [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Net derivative assets and (liabilities) | $ 147 | $ 104 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Equity contract [Member] | Valuation technique, option model [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Net derivative assets and (liabilities) | $ (416) | $ (121) |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Equity contract [Member] | Measurement input, weighted average life [Member] | Minimum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), term of contract | 6 months | 1 year |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Equity contract [Member] | Measurement input, weighted average life [Member] | Maximum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), term of contract | 3 years | 3 years |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Equity contract [Member] | Measurement input, weighted average life [Member] | Weighted average [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), term of contract | 1 year 6 months | 1 year 9 months 18 days |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Equity contract [Member] | Measurement input, conversion factor [Member] | Minimum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | (0.088) | (0.093) |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Equity contract [Member] | Measurement input, conversion factor [Member] | Maximum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0 | 0 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Equity contract [Member] | Measurement input, conversion factor [Member] | Weighted average [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | (0.077) | (0.078) |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Equity contract [Member] | Measurement input, correlation factor [Member] | Minimum [Member] | Valuation technique, option model [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | (0.770) | (0.770) |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Equity contract [Member] | Measurement input, correlation factor [Member] | Maximum [Member] | Valuation technique, option model [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0.990 | 0.990 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Equity contract [Member] | Measurement input, correlation factor [Member] | Weighted average [Member] | Valuation technique, option model [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0.238 | 0.216 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Equity contract [Member] | Measurement input, volatility factor [Member] | Minimum [Member] | Valuation technique, option model [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0.068 | 0.065 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Equity contract [Member] | Measurement input, volatility factor [Member] | Maximum [Member] | Valuation technique, option model [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 1 | 1 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Equity contract [Member] | Measurement input, volatility factor [Member] | Weighted average [Member] | Valuation technique, option model [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0.187 | 0.218 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Credit contract [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Net derivative assets and (liabilities) | $ 2 | $ 3 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Credit contract [Member] | Valuation technique, option model [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Net derivative assets and (liabilities) | $ 27 | $ 32 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Credit contract [Member] | Measurement input, market comparable pricing [Member] | Minimum [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | (0.561) | (0.155) |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Credit contract [Member] | Measurement input, market comparable pricing [Member] | Maximum [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0.108 | 0.400 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Credit contract [Member] | Measurement input, market comparable pricing [Member] | Weighted average [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | (0.160) | 0.035 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Credit contract [Member] | Measurement input, credit spread [Member] | Minimum [Member] | Valuation technique, option model [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0 | 0.009 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Credit contract [Member] | Measurement input, credit spread [Member] | Maximum [Member] | Valuation technique, option model [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0.178 | 0.215 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Credit contract [Member] | Measurement input, credit spread [Member] | Weighted average [Member] | Valuation technique, option model [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0.008 | 0.013 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Credit contract [Member] | Measurement input, loss severity [Member] | Minimum [Member] | Valuation technique, option model [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0.120 | 0.130 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Credit contract [Member] | Measurement input, loss severity [Member] | Maximum [Member] | Valuation technique, option model [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0.600 | 0.600 |
Recurring [Member] | Fair value, inputs, level 3 [Member] | Credit contract [Member] | Measurement input, loss severity [Member] | Weighted average [Member] | Valuation technique, option model [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Net derivative assets and (liabilities), measurement input | 0.456 | 0.452 |
Recurring [Member] | Non modified loans [Member] | Fair value, inputs, level 3 [Member] | Measurement input, cost to service per loan [Member] | Minimum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage servicing rights, measurement input | $ / loan | 61 | 62 |
Recurring [Member] | Non modified loans [Member] | Fair value, inputs, level 3 [Member] | Measurement input, cost to service per loan [Member] | Maximum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage servicing rights, measurement input | $ / loan | 231 | 204 |
Recurring [Member] | Government, healthcare and other revenue bonds [Member] | Fair value, inputs, level 3 [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt securities, trading and available-for-sale | $ 379 | $ 404 |
Recurring [Member] | Government, healthcare and other revenue bonds [Member] | Fair value, inputs, level 3 [Member] | Valuation technique, vendor priced [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt securities, trading and available-for-sale | $ 34 | $ 43 |
Recurring [Member] | Government, healthcare and other revenue bonds [Member] | Fair value, inputs, level 3 [Member] | Measurement input, discount rate [Member] | Minimum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt securities, trading and available-for-sale, measurement input | 0.013 | 0.021 |
Recurring [Member] | Government, healthcare and other revenue bonds [Member] | Fair value, inputs, level 3 [Member] | Measurement input, discount rate [Member] | Maximum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt securities, trading and available-for-sale, measurement input | 0.054 | 0.064 |
Recurring [Member] | Government, healthcare and other revenue bonds [Member] | Fair value, inputs, level 3 [Member] | Measurement input, discount rate [Member] | Weighted average [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt securities, trading and available-for-sale, measurement input | 0.024 | 0.034 |
Recurring [Member] | Collateralized loan obligations [Member] | Fair value, inputs, level 3 [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt securities, trading and available-for-sale | $ 183 | $ 298 |
Recurring [Member] | Collateralized loan obligations [Member] | Fair value, inputs, level 3 [Member] | Valuation technique, vendor priced [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt securities, trading and available-for-sale | $ 640 | $ 739 |
Recurring [Member] | Collateralized loan obligations [Member] | Fair value, inputs, level 3 [Member] | Measurement input, market comparable pricing [Member] | Minimum [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt securities, trading and available-for-sale, measurement input | (0.150) | (0.135) |
Recurring [Member] | Collateralized loan obligations [Member] | Fair value, inputs, level 3 [Member] | Measurement input, market comparable pricing [Member] | Maximum [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt securities, trading and available-for-sale, measurement input | 0.192 | 0.221 |
Recurring [Member] | Collateralized loan obligations [Member] | Fair value, inputs, level 3 [Member] | Measurement input, market comparable pricing [Member] | Weighted average [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt securities, trading and available-for-sale, measurement input | 0.013 | 0.032 |
Recurring [Member] | Corporate debt securities [Member] | Fair value, inputs, level 3 [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt securities, trading and available-for-sale | $ 60 | $ 56 |
Recurring [Member] | Corporate debt securities [Member] | Fair value, inputs, level 3 [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt securities, trading and available-for-sale | 220 | 220 |
Recurring [Member] | Corporate debt securities [Member] | Fair value, inputs, level 3 [Member] | Valuation technique, vendor priced [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt securities, trading and available-for-sale | $ 125 | $ 128 |
Recurring [Member] | Corporate debt securities [Member] | Fair value, inputs, level 3 [Member] | Measurement input, discount rate [Member] | Minimum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt securities, trading and available-for-sale, measurement input | 0.032 | 0.040 |
Recurring [Member] | Corporate debt securities [Member] | Fair value, inputs, level 3 [Member] | Measurement input, discount rate [Member] | Maximum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt securities, trading and available-for-sale, measurement input | 0.149 | 0.117 |
Recurring [Member] | Corporate debt securities [Member] | Fair value, inputs, level 3 [Member] | Measurement input, discount rate [Member] | Weighted average [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt securities, trading and available-for-sale, measurement input | 0.092 | 0.085 |
Recurring [Member] | Corporate debt securities [Member] | Fair value, inputs, level 3 [Member] | Measurement input, market comparable pricing [Member] | Minimum [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt securities, trading and available-for-sale, measurement input | (0.197) | (0.113) |
Recurring [Member] | Corporate debt securities [Member] | Fair value, inputs, level 3 [Member] | Measurement input, market comparable pricing [Member] | Maximum [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt securities, trading and available-for-sale, measurement input | 0.14 | 0.166 |
Recurring [Member] | Corporate debt securities [Member] | Fair value, inputs, level 3 [Member] | Measurement input, market comparable pricing [Member] | Weighted average [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt securities, trading and available-for-sale, measurement input | (0.044) | (0.014) |
Recurring [Member] | Diversified payment rights [Member] | Fair value, inputs, level 3 [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt securities, trading and available-for-sale | $ 92 | $ 171 |
Recurring [Member] | Diversified payment rights [Member] | Fair value, inputs, level 3 [Member] | Measurement input, discount rate [Member] | Minimum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt securities, trading and available-for-sale, measurement input | 0.023 | 0.034 |
Recurring [Member] | Diversified payment rights [Member] | Fair value, inputs, level 3 [Member] | Measurement input, discount rate [Member] | Maximum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt securities, trading and available-for-sale, measurement input | 0.031 | 0.062 |
Recurring [Member] | Diversified payment rights [Member] | Fair value, inputs, level 3 [Member] | Measurement input, discount rate [Member] | Weighted average [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt securities, trading and available-for-sale, measurement input | 0.028 | 0.044 |
Recurring [Member] | Other commercial and consumer [Member] | Fair value, inputs, level 3 [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt securities, trading and available-for-sale | $ 198 | |
Recurring [Member] | Other commercial and consumer [Member] | Fair value, inputs, level 3 [Member] | Valuation technique, vendor priced [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt securities, trading and available-for-sale | $ 11 | $ 20 |
Recurring [Member] | Other commercial and consumer [Member] | Fair value, inputs, level 3 [Member] | Measurement input, discount rate [Member] | Minimum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt securities, trading and available-for-sale, measurement input | 0.046 | |
Recurring [Member] | Other commercial and consumer [Member] | Fair value, inputs, level 3 [Member] | Measurement input, discount rate [Member] | Maximum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt securities, trading and available-for-sale, measurement input | 0.052 | |
Recurring [Member] | Other commercial and consumer [Member] | Fair value, inputs, level 3 [Member] | Measurement input, discount rate [Member] | Weighted average [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt securities, trading and available-for-sale, measurement input | 0.047 | |
Recurring [Member] | Other commercial and consumer [Member] | Fair value, inputs, level 3 [Member] | Measurement input, weighted average life [Member] | Minimum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt securities, trading and available-for-sale, term | 1 year 1 month 6 days | |
Recurring [Member] | Other commercial and consumer [Member] | Fair value, inputs, level 3 [Member] | Measurement input, weighted average life [Member] | Maximum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt securities, trading and available-for-sale, term | 1 year 6 months | |
Recurring [Member] | Other commercial and consumer [Member] | Fair value, inputs, level 3 [Member] | Measurement input, weighted average life [Member] | Weighted average [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt securities, trading and available-for-sale, term | 1 year 1 month 6 days | |
Recurring [Member] | Nonmarketable equity securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Nonmarketable equity securities | 7,869 | $ 5,492 |
Recurring [Member] | Nonmarketable equity securities [Member] | Fair value, inputs, level 3 [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Nonmarketable equity securities | 7,847 | 5,468 |
Recurring [Member] | Nonmarketable equity securities [Member] | Fair value, inputs, level 3 [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Nonmarketable equity securities | $ 7,847 | $ 5,468 |
Recurring [Member] | Nonmarketable equity securities [Member] | Fair value, inputs, level 3 [Member] | Measurement input, market comparable pricing [Member] | Minimum [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Nonmarketable equity securities, measurement input | (20.20%) | (20.60%) |
Recurring [Member] | Nonmarketable equity securities [Member] | Fair value, inputs, level 3 [Member] | Measurement input, market comparable pricing [Member] | Maximum [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Nonmarketable equity securities, measurement input | (4.20%) | (4.30%) |
Recurring [Member] | Nonmarketable equity securities [Member] | Fair value, inputs, level 3 [Member] | Measurement input, market comparable pricing [Member] | Weighted average [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Nonmarketable equity securities, measurement input | (14.60%) | (15.80%) |
Fair Value, Assets Recorded at
Fair Value, Assets Recorded at Fair Value on Nonrecurring Basis (Details) - Nonrecurring [Member] - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale | $ 5,837 | $ 2,446 |
Loans held for sale | 5 | 313 |
Loans | 494 | 686 |
Other assets | 386 | 155 |
Total assets recorded at fair value | 8,203 | 4,531 |
Nonmarketable equity securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonmarketable equity securities | 1,481 | 931 |
Total Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 280 | 339 |
Total Consumer [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 214 | 347 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans | 0 | 0 |
Other assets | 0 | 0 |
Total assets recorded at fair value | 0 | 0 |
Level 1 [Member] | Nonmarketable equity securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonmarketable equity securities | 0 | 0 |
Level 1 [Member] | Total Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 0 | 0 |
Level 1 [Member] | Total Consumer [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 0 | 0 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale | 2,034 | 1,213 |
Loans held for sale | 5 | 313 |
Loans | 493 | 685 |
Other assets | 359 | 149 |
Total assets recorded at fair value | 4,199 | 3,134 |
Level 2 [Member] | Nonmarketable equity securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonmarketable equity securities | 1,308 | 774 |
Level 2 [Member] | Total Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 280 | 339 |
Level 2 [Member] | Total Consumer [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 213 | 346 |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale | 3,803 | 1,233 |
Loans held for sale | 0 | 0 |
Loans | 1 | 1 |
Other assets | 27 | 6 |
Total assets recorded at fair value | 4,004 | 1,397 |
Level 3 [Member] | Nonmarketable equity securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonmarketable equity securities | 173 | 157 |
Level 3 [Member] | Total Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 0 | 0 |
Level 3 [Member] | Total Consumer [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | $ 1 | $ 1 |
Fair Value, Changes in Value of
Fair Value, Changes in Value of Assets with Nonrecurring Fair Value Adjustments (Details) - Nonrecurring [Member] - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis Increase (Decrease) [Line Items] | ||
Mortgage loans held for sale | $ 11 | $ 21 |
Loans held for sale | 0 | (39) |
Loans | (498) | (505) |
Nonmarketable equity securities | 322 | 265 |
Premises and equipment | (170) | 0 |
Other assets | (84) | (40) |
Total | (419) | (298) |
Total Commercial [Member] | ||
Fair Value Assets And Liabilities Measured On Nonrecurring Basis Increase (Decrease) [Line Items] | ||
Loans | (291) | (221) |
Total Consumer [Member] | ||
Fair Value Assets And Liabilities Measured On Nonrecurring Basis Increase (Decrease) [Line Items] | ||
Loans | $ (207) | $ (284) |
Fair Value, Assets Recorded a_2
Fair Value, Assets Recorded at Fair Value on a Nonrecurring Basis Level 3 Valuation Techniques and Significant Unobservable Inputs (Details) - Nonrecurring [Member] - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgage loans held for sale | $ 5,837 | $ 2,446 |
Total assets recorded at fair value | 8,203 | 4,531 |
Residential [Member] | Non-government insured/guaranteed [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgage loans held for sale | 2,500 | 27 |
Residential [Member] | Government insured or guaranteed [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgage loans held for sale | 1,300 | 1,200 |
Nonmarketable equity securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Nonmarketable equity securities | $ 1,481 | $ 931 |
Measurement input, default rate [Member] | Valuation technique, discounted cash flow [Member] | Minimum [Member] | Residential [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | 0.30% | 0.20% |
Measurement input, default rate [Member] | Valuation technique, discounted cash flow [Member] | Maximum [Member] | Residential [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | 48.30% | 2.30% |
Measurement input, default rate [Member] | Valuation technique, discounted cash flow [Member] | Weighted average [Member] | Residential [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | 4.60% | 1.40% |
Measurement input, discount rate [Member] | Valuation technique, discounted cash flow [Member] | Minimum [Member] | Residential [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | 1.50% | 1.50% |
Measurement input, discount rate [Member] | Valuation technique, discounted cash flow [Member] | Maximum [Member] | Residential [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | 9.40% | 8.50% |
Measurement input, discount rate [Member] | Valuation technique, discounted cash flow [Member] | Weighted average [Member] | Residential [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | 4.30% | 4.00% |
Measurement input, loss severity [Member] | Valuation technique, discounted cash flow [Member] | Minimum [Member] | Residential [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | 0.40% | 0.50% |
Measurement input, loss severity [Member] | Valuation technique, discounted cash flow [Member] | Maximum [Member] | Residential [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | 100.00% | 66.00% |
Measurement input, loss severity [Member] | Valuation technique, discounted cash flow [Member] | Weighted average [Member] | Residential [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | 23.40% | 1.70% |
Measurement input, prepayment rate [Member] | Valuation technique, discounted cash flow [Member] | Minimum [Member] | Residential [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | 4.80% | 3.50% |
Measurement input, prepayment rate [Member] | Valuation technique, discounted cash flow [Member] | Maximum [Member] | Residential [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | 100.00% | 100.00% |
Measurement input, prepayment rate [Member] | Valuation technique, discounted cash flow [Member] | Weighted average [Member] | Residential [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale, measurement input | 23.20% | 46.50% |
Fair value, inputs, level 3 [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgage loans held for sale | $ 3,803 | $ 1,233 |
Total insignificant level 3 assets | 201 | 164 |
Total assets recorded at fair value | 4,004 | 1,397 |
Fair value, inputs, level 3 [Member] | Nonmarketable equity securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Nonmarketable equity securities | 173 | 157 |
Fair value, inputs, level 3 [Member] | Valuation technique, discounted cash flow [Member] | Residential [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgage loans held for sale | $ 3,803 | $ 1,233 |
Fair Value, Option, Carrying Am
Fair Value, Option, Carrying Amount (Details) - Fair value option election [Member] - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Mortgage loans held for sale | $ 16,606 | $ 11,771 |
Loans held for sale | 972 | 1,469 |
Loans | 171 | 244 |
Mortgage loans held for sale [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Mortgage loans held for sale | 16,606 | 11,771 |
Mortgage loans held for sale, aggregate unpaid principal | 16,279 | 11,573 |
Loans, loans held for sale and mortgage loans held for sale, aggregate difference | 327 | 198 |
Nonaccrual loans | 133 | 127 |
Nonaccrual loans, aggregate unpaid principal | 157 | 158 |
Nonaccrual loans, aggregate difference | (24) | (31) |
Loans 90 days or more past due and still accruing | 8 | 7 |
Loans 90 days or more past due and still accruing, aggregate unpaid principal | 10 | 9 |
Loans 90 days or more past due and still accruing, aggregate difference | (2) | (2) |
Loans held for sale [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans held for sale | 972 | 1,469 |
Loans held for sale, aggregate unpaid principal | 1,020 | 1,536 |
Loans, loans held for sale and mortgage loans held for sale, aggregate difference | (48) | (67) |
Nonaccrual loans | 21 | 21 |
Nonaccrual loans, aggregate unpaid principal | 29 | 32 |
Nonaccrual loans, aggregate difference | (8) | (11) |
Loans [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans | 171 | 244 |
Loans, aggregate unpaid principal | 201 | 274 |
Loans, loans held for sale and mortgage loans held for sale, aggregate difference | (30) | (30) |
Nonaccrual loans | 129 | 179 |
Nonaccrual loans, aggregate unpaid principal | 159 | 208 |
Nonaccrual loans, aggregate difference | $ (30) | $ (29) |
Fair Value Option, Changes in F
Fair Value Option, Changes in Fair Value Included in Earnings (Details) - Fair value option election [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Mortgage banking noninterest income [Member] | Mortgage loans held for sale [Member] | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Gains (Losses) on changes in fair value | $ 1,064 | $ 462 | $ 1,229 |
Mortgage banking noninterest income [Member] | Loans held for sale [Member] | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Gains (Losses) on changes in fair value | 0 | 0 | 0 |
Mortgage banking noninterest income [Member] | Loans [Member] | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Gains (Losses) on changes in fair value | 0 | 0 | 0 |
Net gains (losses) from trading activities [Member] | Mortgage loans held for sale [Member] | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Gains (Losses) on changes in fair value | 0 | 0 | 0 |
Net gains (losses) from trading activities [Member] | Loans held for sale [Member] | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Gains (Losses) on changes in fair value | 11 | (1) | 45 |
Net gains (losses) from trading activities [Member] | Loans [Member] | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Gains (Losses) on changes in fair value | 0 | 0 | 0 |
Other noninterest income [Member] | Mortgage loans held for sale [Member] | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Gains (Losses) on changes in fair value | 0 | 0 | 0 |
Other noninterest income [Member] | Loans held for sale [Member] | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Gains (Losses) on changes in fair value | 2 | 1 | 2 |
Other noninterest income [Member] | Loans [Member] | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Gains (Losses) on changes in fair value | $ 0 | $ (1) | $ 0 |
Fair Value, Option, Gains_Losse
Fair Value, Option, Gains/Losses Attributable to Instrument Specific Credit Risk (Details) - Fair value option election [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Gains (losses) attributable to instrument-specific credit risk | $ 15 | $ (16) | $ 33 |
Mortgage loans held for sale [Member] | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Gains (losses) attributable to instrument-specific credit risk | 2 | (16) | (12) |
Loans held for sale [Member] | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Gains (losses) attributable to instrument-specific credit risk | $ 13 | $ 0 | $ 45 |
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 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Financial assets | |||||
Cash and due from banks | $ 21,757 | $ 23,551 | |||
Interest-earning deposits with banks | 119,493 | 149,736 | |||
Federal funds sold and securities purchased under resale agreements | 102,140 | 80,207 | |||
Held-to-maturity debt securities | 153,933 | 144,788 | |||
Loans | 962,265 | 953,110 | $ 956,770 | $ 967,604 | $ 916,559 |
Financial liabilities | |||||
Deposits | 1,322,626 | 1,286,170 | |||
Short-term borrowings | 104,512 | 105,787 | 103,256 | ||
Long-term debt | 228,191 | 229,044 | |||
Mortgage loans [Member] | |||||
Financial assets | |||||
Loans held for sale | 23,342 | 15,126 | |||
Loans held for sale [Member] | |||||
Financial assets | |||||
Loans held for sale | 977 | 2,041 | |||
Commercial lease financing [Member] | |||||
Financial assets | |||||
Loans | 19,831 | 19,696 | $ 19,385 | $ 19,289 | $ 12,367 |
Carrying value [Member] | |||||
Financial assets | |||||
Cash and due from banks | 21,757 | 23,551 | |||
Interest-earning deposits with banks | 119,493 | 149,736 | |||
Federal funds sold and securities purchased under resale agreements | 102,140 | 80,207 | |||
Held-to-maturity debt securities | 153,933 | 144,788 | |||
Loans | 933,042 | 923,703 | |||
Nonmarketable equity securities | 4,790 | 5,643 | |||
Total financial assets | 1,341,896 | 1,331,555 | |||
Financial liabilities | |||||
Deposits | 118,849 | 130,645 | |||
Short-term borrowings | 104,512 | 105,787 | |||
Long-term debt | 228,159 | 229,008 | |||
Total financial liabilities | 451,520 | 465,440 | |||
Fair Value Disclosures, Textual [Abstract] | |||||
Deposit liabilities with no defined or contractual maturity | 1,200,000 | 1,200,000 | |||
Carrying value [Member] | Finance leases [Member] | |||||
Financial liabilities | |||||
Long-term debt | 32 | 36 | |||
Carrying value [Member] | Mortgage loans [Member] | |||||
Financial assets | |||||
Loans held for sale | 6,736 | 3,355 | |||
Carrying value [Member] | Loans held for sale [Member] | |||||
Financial assets | |||||
Loans held for sale | 5 | 572 | |||
Carrying value [Member] | Commercial lease financing [Member] | |||||
Financial assets | |||||
Loans | 19,500 | 19,700 | |||
Estimated fair value [Member] | |||||
Financial assets | |||||
Cash and due from banks | 21,757 | 23,551 | |||
Interest-earning deposits with banks | 119,493 | 149,736 | |||
Federal funds sold and securities purchased under resale agreements | 102,140 | 80,207 | |||
Held-to-maturity debt securities | 156,860 | 142,115 | |||
Loans | 945,839 | 917,915 | |||
Nonmarketable equity securities | 4,823 | 5,675 | |||
Total financial assets | 1,358,577 | 1,323,133 | |||
Financial liabilities | |||||
Deposits | 119,137 | 130,089 | |||
Short-term borrowings | 104,513 | 105,789 | |||
Long-term debt | 233,052 | 228,134 | |||
Total financial liabilities | 456,702 | 464,012 | |||
Fair Value Disclosures, Textual [Abstract] | |||||
Loan commitments and standby, commercial and similar letters of credit | 1,000 | 1,000 | |||
Estimated fair value [Member] | Mortgage loans [Member] | |||||
Financial assets | |||||
Loans held for sale | 7,660 | 3,362 | |||
Estimated fair value [Member] | Loans held for sale [Member] | |||||
Financial assets | |||||
Loans held for sale | 5 | 572 | |||
Estimated fair value [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Financial assets | |||||
Cash and due from banks | 21,757 | 23,551 | |||
Interest-earning deposits with banks | 119,257 | 149,542 | |||
Federal funds sold and securities purchased under resale agreements | 0 | 0 | |||
Held-to-maturity debt securities | 46,138 | 44,339 | |||
Loans | 0 | 0 | |||
Nonmarketable equity securities | 0 | 0 | |||
Total financial assets | 187,152 | 217,432 | |||
Financial liabilities | |||||
Deposits | 0 | 0 | |||
Short-term borrowings | 0 | 0 | |||
Long-term debt | 0 | 0 | |||
Total financial liabilities | 0 | 0 | |||
Estimated fair value [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage loans [Member] | |||||
Financial assets | |||||
Loans held for sale | 0 | 0 | |||
Estimated fair value [Member] | Fair Value, Inputs, Level 1 [Member] | Loans held for sale [Member] | |||||
Financial assets | |||||
Loans held for sale | 0 | 0 | |||
Estimated fair value [Member] | Fair value, inputs, level 2 [Member] | |||||
Financial assets | |||||
Cash and due from banks | 0 | 0 | |||
Interest-earning deposits with banks | 236 | 194 | |||
Federal funds sold and securities purchased under resale agreements | 102,140 | 80,207 | |||
Held-to-maturity debt securities | 109,933 | 97,275 | |||
Loans | 54,125 | 45,190 | |||
Nonmarketable equity securities | 0 | 0 | |||
Total financial assets | 269,378 | 225,567 | |||
Financial liabilities | |||||
Deposits | 87,279 | 107,448 | |||
Short-term borrowings | 104,513 | 105,789 | |||
Long-term debt | 231,332 | 225,904 | |||
Total financial liabilities | 423,124 | 439,141 | |||
Estimated fair value [Member] | Fair value, inputs, level 2 [Member] | Mortgage loans [Member] | |||||
Financial assets | |||||
Loans held for sale | 2,939 | 2,129 | |||
Estimated fair value [Member] | Fair value, inputs, level 2 [Member] | Loans held for sale [Member] | |||||
Financial assets | |||||
Loans held for sale | 5 | 572 | |||
Estimated fair value [Member] | Fair value, inputs, level 3 [Member] | |||||
Financial assets | |||||
Cash and due from banks | 0 | 0 | |||
Interest-earning deposits with banks | 0 | 0 | |||
Federal funds sold and securities purchased under resale agreements | 0 | 0 | |||
Held-to-maturity debt securities | 789 | 501 | |||
Loans | 891,714 | 872,725 | |||
Nonmarketable equity securities | 4,823 | 5,675 | |||
Total financial assets | 902,047 | 880,134 | |||
Financial liabilities | |||||
Deposits | 31,858 | 22,641 | |||
Short-term borrowings | 0 | 0 | |||
Long-term debt | 1,720 | 2,230 | |||
Total financial liabilities | 33,578 | 24,871 | |||
Estimated fair value [Member] | Fair value, inputs, level 3 [Member] | Mortgage loans [Member] | |||||
Financial assets | |||||
Loans held for sale | 4,721 | 1,233 | |||
Estimated fair value [Member] | Fair value, inputs, level 3 [Member] | Loans held for sale [Member] | |||||
Financial assets | |||||
Loans held for sale | $ 0 | $ 0 |
Preferred Stock (Details)
Preferred Stock (Details) $ / shares in Units, $ in Millions | Mar. 16, 2020shares | Sep. 30, 2019shares | Dec. 31, 2019USD ($)vote$ / sharesshares | Dec. 31, 2018USD ($)$ / sharesshares | Jan. 15, 2020USD ($) |
Detail of Preferred Stock [Abstract] | |||||
Preferred stock shares authorized and designated | shares | 9,251,728 | 9,586,770 | |||
ESOP liquidation preference per share (in dollars per share) | $ / shares | $ 0 | $ 0 | |||
ESOP shares authorized and designated | shares | 1,071,418 | 1,406,460 | |||
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||
Shares issued and outstanding | shares | 7,492,169 | 9,377,216 | |||
Voting rights | If issued, preference shares would be limited to one vote per share | ||||
Carrying value | $ 21,549 | $ 23,214 | |||
Discount | $ 1,024 | $ 1,244 | |||
ESOP shares issued and outstanding | shares | 1,071,418 | 1,406,460 | |||
ESOP liquidation preference value | $ 1,072 | $ 1,407 | |||
ESOP carrying value | 1,072 | 1,407 | |||
ESOP discount | 0 | 0 | |||
Preferred stock, par or stated value | $ 22,573 | $ 24,458 | |||
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 I - Floating Class A Preferred Stock [Member] | |||||
Detail of Preferred Stock [Abstract] | |||||
Preferred stock, dividend payment rate, variable | the greater of three-month LIBOR plus 0.93% and 5.56975% | the greater of three-month LIBOR plus 0.93% and 5.56975% | |||
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 K - Floating Non-Cumulative Perpetual Class A Preferred Stock [Member] | |||||
Class of Stock [Line Items] | |||||
Stock redeemed or called during period, shares | shares | 1,550,000 | ||||
Detail of Preferred Stock [Abstract] | |||||
Preferred stock, dividend payment rate, variable | three-month LIBOR plus 3.77% | three-month LIBOR plus 3.77% | |||
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 | 1,802,000 | 3,352,000 | |||
Preferred stock, liquidation preference, value | $ 1,802 | $ 3,352 | |||
Carrying value | 1,546 | 2,876 | |||
Discount | $ 256 | $ 476 | |||
Series L - 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock [Member] | |||||
Class of Stock [Line Items] | |||||
Number Of Common Stock Shares Per Preferred Share | $ / shares | $ 6.3814 | ||||
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 | 3,967,995 | 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 - 6.00% 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 | |||
Series Y - 5.625% Non-Cumulative Perpetual Class A Preferred Stock [Member] | |||||
Detail of Preferred Stock [Abstract] | |||||
Preferred stock, dividend rate (percent) | 5.625% | 5.625% | |||
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 | 27,600 | 27,600 | |||
Preferred stock, liquidation preference, value | $ 690 | $ 690 | |||
Carrying value | 690 | 690 | |||
Discount | $ 0 | $ 0 | |||
Subsequent Event [Member] | Series K - Floating Non-Cumulative Perpetual Class A Preferred Stock [Member] | |||||
Class of Stock [Line Items] | |||||
Stock redeemed or called during period, shares | shares | 1,802,000 | ||||
Subsequent Event [Member] | Series T - 6.00% Non-Cumulative Perpetual Class A Preferred Stock [Member] | |||||
Class of Stock [Line Items] | |||||
Stock redeemed or called during period, shares | shares | 26,720 | ||||
Subsequent Event [Member] | Series Z - 4.75% Non-Cumulative Perpetual Class A Preferred Stock [Member] | |||||
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||
Preferred stock, par or stated value | $ 2,000 |
ESOP Preferred Stock (Details)
ESOP Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Class of Stock [Line Items] | ||
Additional paid-in capital included related to preferred stock | $ 71 | $ 95 |
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 1,071,418 | 1,406,460 |
Carrying value | $ 1,072 | $ 1,407 |
Unearned ESOP shares | $ (1,143) | $ (1,502) |
Employee Stock Ownership Plan Preferred Stock 2018 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 254,945 | 336,945 |
Carrying value | $ 255 | $ 337 |
Employee Stock Ownership Plan Preferred Stock 2018 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 7.00% | 7.00% |
Employee Stock Ownership Plan Preferred Stock 2018 [Member] | Maximum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 8.00% | 8.00% |
Employee Stock Ownership Plan Preferred Stock 2017 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 192,210 | 222,210 |
Carrying value | $ 192 | $ 222 |
Employee Stock Ownership Plan Preferred Stock 2017 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 7.00% | 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% | 8.00% |
Employee Stock Ownership Plan Preferred Stock 2016 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 197,450 | 233,835 |
Carrying value | $ 198 | $ 234 |
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 | 116,784 | 144,338 |
Carrying value | $ 117 | $ 144 |
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 | 136,151 | 174,151 |
Carrying value | $ 136 | $ 174 |
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 | 97,948 | 133,948 |
Carrying value | $ 98 | $ 134 |
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 | 49,134 | 77,634 |
Carrying value | $ 49 | $ 78 |
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 | 26,796 | 61,796 |
Carrying value | $ 27 | $ 62 |
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 | 0 | 21,603 |
Carrying value | $ 0 | $ 22 |
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% |
Equity Award [Member] | Convertible preferred stock [Member] | Minimum [Member] | ||
Class of Stock [Line Items] | ||
Preferred stock, redemption price per share | $ 1,000 |
Common Stock and Stock Plans Te
Common Stock and Stock Plans Textuals (Details) - USD ($) | Oct. 29, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Warrant or Right, Reason for Issuance, Description | In connection with our participation in the Capital Purchase Program (CPP), a part of the Troubled Asset Relief Program (TARP), we issued to the U.S. Treasury Department warrants to purchase common stock. | |||
Common stock, shares authorized | 9,000,000,000 | 9,000,000,000 | ||
Common Stock and Stock Plans (Textual) [Abstract] | ||||
Total number of shares of common stock available for grant under plans | 246,000,000 | |||
Broad-based RSRs [Member] | ||||
Common Stock and Stock Plans (Textual) [Abstract] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 11,900,000 | |||
Performance Shares Awards [Member] | ||||
Common Stock and Stock Plans (Textual) [Abstract] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 2,320,530 | |||
Award vesting period | 3 years | |||
Unrecognized compensation cost related to nonvested awards | $ 29,000,000 | |||
Future vesting amount, minimum (percent) | 0.00% | |||
Future vesting amount option one, maximum (percent) | 125.00% | |||
Future vesting amount option two, maximum (percent) | 150.00% | |||
Granted, weighted-average grant-date fair value | $ 49.26 | $ 58.62 | $ 57.14 | |
Expected weighted-average period to recognize compensation costs related to awards | 1 year 7 months 6 days | |||
Cost Amount To Holders of Incentive Compensation Share Plans | $ 0 | |||
Fair value of awards vested | 82,000,000 | $ 107,000,000 | $ 117,000,000 | |
Stock options [Member] | ||||
Common Stock and Stock Plans (Textual) [Abstract] | ||||
Total intrinsic value of options exercised | 291,000,000 | 375,000,000 | 623,000,000 | |
Cash received from exercise of options | $ 108,000,000 | $ 227,000,000 | $ 602,000,000 | |
Restricted Share Rights [Member] | ||||
Common Stock and Stock Plans (Textual) [Abstract] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 22,743,879 | |||
Unrecognized compensation cost related to nonvested awards | $ 1,000,000,000 | |||
Granted, weighted-average grant-date fair value | $ 49.32 | $ 58.47 | $ 57.54 | |
Expected weighted-average period to recognize compensation costs related to awards | 2 years 4 months 24 days | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 773,000,000 | $ 824,000,000 | $ 865,000,000 | |
Cost Amount To Holders of Incentive Compensation Share Plans | $ 0 | |||
TARP CPP [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Common stock, shares authorized | 110,261,688 | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 34.01 | |||
Class Of Warrant Or Right, Expiration Date From Which Warrants Are Not Exercisable | Oct. 29, 2018 | |||
Class Of Warrant or Right, Number Of Warrants Not Exercisable | 110,646 | |||
Warrants exercised to purchase common stock | 0 | 23,217,208 | ||
Long-Term Incentive Compensation Plans [Member] | Minimum [Member] | Restricted Share Rights [Member] | ||||
Common Stock and Stock Plans (Textual) [Abstract] | ||||
Award vesting period | 3 years | |||
Long-Term Incentive Compensation Plans [Member] | Maximum [Member] | Restricted Share Rights [Member] | ||||
Common Stock and Stock Plans (Textual) [Abstract] | ||||
Award vesting period | 5 years | |||
Options granted prior to 2011 [Member] | Long-Term Incentive Compensation Plans [Member] | Director Awards [Member] | ||||
Common Stock and Stock Plans (Textual) [Abstract] | ||||
Award vesting period | 12 months | |||
Award expiration period | 10 years |
Common Stock and Stock Plans, C
Common Stock and Stock Plans, Common Stock Shares Reserved, Issued and Authorized (Details) - shares | Dec. 31, 2019 | Dec. 31, 2018 |
Reserved, Issued and Authorized Common Stock [Abstract] | ||
Total shares reserved | 561,199,707 | |
Shares issued | 5,481,811,474 | 5,481,811,474 |
Shares not reserved or issued | 2,956,988,819 | |
Total shares authorized | 9,000,000,000 | 9,000,000,000 |
Dividend Reinvestment and Common Stock Purchase Plans [Member] | ||
Reserved, Issued and Authorized Common Stock [Abstract] | ||
Total shares reserved | 6,774,855 | |
Director plans [Member] | ||
Reserved, Issued and Authorized Common Stock [Abstract] | ||
Total shares reserved | 375,293 | |
Stock Plan [Member] | ||
Reserved, Issued and Authorized Common Stock [Abstract] | ||
Total shares reserved | 488,214,122 | |
Convertible Securities And Warrants [Member] | ||
Reserved, Issued and Authorized Common Stock [Abstract] | ||
Total shares reserved | 65,835,437 |
Common Stock and Stock Plans, S
Common Stock and Stock Plans, Stock Incentive Compensation Expense (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Allocation of Stock Incentive Compensation Expense and Related Recognized Tax Benefit [Abstract] | |||
RSRs (1) | $ 1,109 | $ 1,013 | $ 743 |
Performance shares | 108 | 9 | 112 |
Stock Options | 0 | 0 | (6) |
Total stock incentive compensation expense | 1,217 | 1,022 | 849 |
Related recognized tax benefit | $ 301 | $ 252 | $ 320 |
Common Stock and Stock Plans,_2
Common Stock and Stock Plans, Summary of Restricted Share Rights and Restricted Share Awards (Details) - Restricted Share Rights [Member] - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Summary of Restricted Share Rights and Restricted Share Awards [Abstract] | |||
Cost Amount To Holders of Incentive Compensation Share Plans | $ 0 | ||
Nonvested at January 1, 2019 (in shares) | 45,572,498 | ||
Granted (in shares) | 22,743,879 | ||
Vested (in shares) | (15,281,949) | ||
Canceled or forfeited (in shares) | (2,118,967) | ||
Nonvested at December 31, 2019 (in shares) | 50,915,461 | 45,572,498 | |
Weighted- average grant-date fair value | |||
Nonvested at January 1, 2019 (in dollars per share) | $ 54.85 | ||
Granted (in dollars per share) | 49.32 | $ 58.47 | $ 57.54 |
Vested (in dollars per share) | 55.03 | ||
Canceled or forfeited (in dollars per share) | 55.37 | ||
Nonvested at December 31, 2019 (in dollars per share) | $ 52.30 | $ 54.85 |
Common Stock and Stock Plans,_3
Common Stock and Stock Plans, Summary of Performance Awards (Details) - Performance Shares Awards [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Summary of Performance Awards [Abstract] | |||
Nonvested at January 1, 2019 (in shares) | 5,984,686 | ||
Granted (in shares) | 2,320,530 | ||
Vested (in shares) | (1,610,502) | ||
Canceled or forfeited (in shares) | (190,501) | ||
Nonvested at December 31, 2019 (in shares) | 6,504,213 | 5,984,686 | |
Weighted- average grant-date fair value | |||
Nonvested at January 1, 2019 (in dollars per share) | $ 49.91 | ||
Granted (in dollars per share) | 49.26 | $ 58.62 | $ 57.14 |
Vested (in dollars per share) | 48.59 | ||
Canceled or forfeited (in dollars per share) | 56.48 | ||
Nonvested at December 31, 2019 (in dollars per share) | $ 49.81 | $ 49.91 |
Common Stock and Stock Plans,_4
Common Stock and Stock Plans, Stock Option Plans (Details) - Incentive Compensation Plans [Member] $ / shares in Units, $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($)$ / sharesshares | |
Summary of Stock Options | |
Options outstanding as of December 31, 2018 (in shares) | shares | 8,343,157 |
Canceled or forfeited (in shares) | shares | (170,141) |
Exercised (in shares) | shares | (8,112,456) |
Options exercisable and outstanding as of December 31, 2019 (in shares) | shares | 60,560 |
Employee Stock Options [Abstract] | |
Options outstanding, weighted-average remaining contractual term (in yrs.) | 3 months 18 days |
Options outstanding, aggregate intrinsic value | $ | $ 1 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | |
Options outstanding as of December 31, 2018 (in dollars per share) | $ / shares | $ 13.46 |
Canceled or forfeited (in dollars per share) | $ / shares | 13.05 |
Exercised (in dollars per share) | $ / shares | 13.34 |
Options outstanding as of December 31, 2019 (in dollars per share) | $ / shares | $ 30.69 |
Common Stock and Stock Plans, E
Common Stock and Stock Plans, Employee Stock Ownership Plan (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Common stock [Member] | |||
Employee Stock Ownership Plan [Abstract] | |||
Allocated shares (common) | 138,978,383 | 138,182,911 | 124,670,717 |
Dividends paid to ESOP | $ 233 | $ 213 | $ 195 |
Preferred stock Unreleased [Member] | |||
Employee Stock Ownership Plan [Abstract] | |||
Unreleased shares (preferred) | 1,071,418 | 1,406,460 | 1,556,104 |
Fair value of unreleased ESOP preferred shares | $ 1,072 | $ 1,407 | $ 1,556 |
Dividends paid to ESOP | $ 101 | $ 159 | $ 166 |
Revenue from Contracts with C_3
Revenue from Contracts with Customers, Revenue by Operating Segment (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Net interest Income | $ 47,231 | $ 49,995 | $ 49,557 |
Mortgage banking | 2,715 | 3,017 | 4,350 |
Insurance | 378 | 429 | 1,049 |
Net gains (losses) from trading activities | 993 | 602 | 542 |
Net gains (losses) on debt securities | 140 | 108 | 479 |
Net gains (losses) from equity securities | 2,843 | 1,515 | 1,779 |
Lease income | 1,612 | 1,753 | 1,907 |
Other income of the segment | 3,181 | 2,473 | 1,603 |
Total noninterest income | 37,832 | 36,413 | 38,832 |
Total income | 85,063 | 86,408 | 88,389 |
Service charges on deposit accounts [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 4,798 | 4,716 | 5,111 |
Trust and investment fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 14,072 | 14,509 | 14,495 |
Brokerage advisory, commissions and other fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 9,237 | 9,436 | 9,358 |
Trust and investment management [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 3,038 | 3,316 | 3,372 |
Investment banking [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 1,797 | 1,757 | 1,765 |
Card fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 4,016 | 3,907 | 3,960 |
Other fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 3,084 | 3,384 | 3,557 |
Lending related charges and fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 1,379 | 1,526 | 1,568 |
Cash network fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 452 | 481 | 506 |
Commercial real estate brokerage commissions [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 358 | 468 | 462 |
Wire transfer and other remittance fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 474 | 477 | 448 |
All other fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 421 | 432 | 573 |
Other [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Net interest Income | (2,115) | (2,355) | (2,552) |
Mortgage banking | 8 | 7 | 7 |
Insurance | (41) | (48) | (50) |
Net gains (losses) from trading activities | 1 | 1 | 0 |
Net gains (losses) on debt securities | 0 | 0 | 0 |
Net gains (losses) from equity securities | 0 | 0 | 0 |
Lease income | 0 | 0 | 0 |
Other income of the segment | (316) | (301) | (308) |
Total noninterest income | (3,156) | (3,232) | (3,149) |
Total income | (5,271) | (5,587) | (5,701) |
Other [Member] | Service charges on deposit accounts [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | (15) | (15) | (16) |
Other [Member] | Trust and investment fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | (2,777) | (2,861) | (2,766) |
Other [Member] | Brokerage advisory, commissions and other fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | (1,932) | (1,929) | (1,848) |
Other [Member] | Trust and investment management [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | (840) | (932) | (917) |
Other [Member] | Investment banking [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | (5) | 0 | (1) |
Other [Member] | Card fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | (4) | (4) | (4) |
Other [Member] | Other fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | (12) | (11) | (12) |
Other [Member] | Lending related charges and fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | (7) | (6) | (8) |
Other [Member] | Cash network fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 0 | 0 | 0 |
Other [Member] | Commercial real estate brokerage commissions [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 0 | 0 | 0 |
Other [Member] | Wire transfer and other remittance fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | (4) | (4) | (4) |
Other [Member] | All other fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | (1) | (1) | 0 |
Community Banking [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Net interest Income | 27,610 | 29,219 | 28,658 |
Mortgage banking | 2,307 | 2,659 | 3,895 |
Insurance | 44 | 83 | 139 |
Net gains (losses) from trading activities | 24 | 28 | (251) |
Net gains (losses) on debt securities | 51 | (3) | 709 |
Net gains (losses) from equity securities | 2,155 | 1,505 | 1,455 |
Lease income | 0 | 0 | 0 |
Other income of the segment | 2,726 | 3,117 | 1,734 |
Total noninterest income | 17,706 | 17,694 | 18,360 |
Total income | 45,316 | 46,913 | 47,018 |
Community Banking [Member] | Service charges on deposit accounts [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 2,823 | 2,641 | 2,909 |
Community Banking [Member] | Trust and investment fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 2,643 | 2,762 | 2,660 |
Community Banking [Member] | Brokerage advisory, commissions and other fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 1,931 | 1,887 | 1,830 |
Community Banking [Member] | Trust and investment management [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 805 | 910 | 889 |
Community Banking [Member] | Investment banking [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | (93) | (35) | (59) |
Community Banking [Member] | Card fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 3,655 | 3,543 | 3,613 |
Community Banking [Member] | Other fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 1,278 | 1,359 | 1,497 |
Community Banking [Member] | Lending related charges and fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 239 | 278 | 311 |
Community Banking [Member] | Cash network fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 452 | 478 | 498 |
Community Banking [Member] | Commercial real estate brokerage commissions [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 0 | 0 | 1 |
Community Banking [Member] | Wire transfer and other remittance fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 274 | 264 | 239 |
Community Banking [Member] | All other fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 313 | 339 | 448 |
Wholesale Banking [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Net interest Income | 17,699 | 18,690 | 18,810 |
Mortgage banking | 412 | 362 | 458 |
Insurance | 303 | 312 | 872 |
Net gains (losses) from trading activities | 915 | 516 | 701 |
Net gains (losses) on debt securities | 89 | 102 | (232) |
Net gains (losses) from equity securities | 416 | 293 | 116 |
Lease income | 1,612 | 1,753 | 1,907 |
Other income of the segment | (570) | (322) | 114 |
Total noninterest income | 9,978 | 10,016 | 11,190 |
Total income | 27,677 | 28,706 | 30,000 |
Wholesale Banking [Member] | Service charges on deposit accounts [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 1,974 | 2,074 | 2,201 |
Wholesale Banking [Member] | Trust and investment fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 2,667 | 2,545 | 2,654 |
Wholesale Banking [Member] | Brokerage advisory, commissions and other fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 292 | 317 | 304 |
Wholesale Banking [Member] | Trust and investment management [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 486 | 445 | 523 |
Wholesale Banking [Member] | Investment banking [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 1,889 | 1,783 | 1,827 |
Wholesale Banking [Member] | Card fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 359 | 362 | 345 |
Wholesale Banking [Member] | Other fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 1,801 | 2,019 | 2,054 |
Wholesale Banking [Member] | Lending related charges and fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 1,139 | 1,247 | 1,257 |
Wholesale Banking [Member] | Cash network fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 0 | 3 | 8 |
Wholesale Banking [Member] | Commercial real estate brokerage commissions [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 358 | 468 | 461 |
Wholesale Banking [Member] | Wire transfer and other remittance fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 196 | 209 | 204 |
Wholesale Banking [Member] | All other fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 108 | 92 | 124 |
Wealth and Investment Management [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Net interest Income | 4,037 | 4,441 | 4,641 |
Mortgage banking | (12) | (11) | (10) |
Insurance | 72 | 82 | 88 |
Net gains (losses) from trading activities | 53 | 57 | 92 |
Net gains (losses) on debt securities | 0 | 9 | 2 |
Net gains (losses) from equity securities | 272 | (283) | 208 |
Lease income | 0 | 0 | 0 |
Other income of the segment | 1,341 | (21) | 63 |
Total noninterest income | 13,304 | 11,935 | 12,431 |
Total income | 17,341 | 16,376 | 17,072 |
Wealth and Investment Management [Member] | Service charges on deposit accounts [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 16 | 16 | 17 |
Wealth and Investment Management [Member] | Trust and investment fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 11,539 | 12,063 | 11,947 |
Wealth and Investment Management [Member] | Brokerage advisory, commissions and other fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 8,946 | 9,161 | 9,072 |
Wealth and Investment Management [Member] | Trust and investment management [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 2,587 | 2,893 | 2,877 |
Wealth and Investment Management [Member] | Investment banking [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 6 | 9 | (2) |
Wealth and Investment Management [Member] | Card fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 6 | 6 | 6 |
Wealth and Investment Management [Member] | Other fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 17 | 17 | 18 |
Wealth and Investment Management [Member] | Lending related charges and fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 8 | 7 | 8 |
Wealth and Investment Management [Member] | Cash network fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 0 | 0 | 0 |
Wealth and Investment Management [Member] | Commercial real estate brokerage commissions [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 0 | 0 | 0 |
Wealth and Investment Management [Member] | Wire transfer and other remittance fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | 8 | 8 | 9 |
Wealth and Investment Management [Member] | All other fees [Member] | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Fee income | $ 1 | $ 2 | $ 1 |
Revenue from Contracts with C_4
Revenue from Contracts with Customers, Disaggregation of Revenue (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Service charges on deposit accounts [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | $ 4,798 | $ 4,716 | $ 5,111 |
Overdraft fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 1,971 | 1,782 | 1,948 |
Account charges [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 2,827 | 2,934 | 3,163 |
Brokerage advisory, commissions and other fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 9,237 | 9,436 | 9,358 |
Asset-based revenue [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 6,775 | 6,898 | 6,632 |
Trailing commissions [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 1,200 | 1,300 | 1,300 |
Transactional revenue [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 1,560 | 1,648 | 1,824 |
Other revenue [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 902 | 890 | 902 |
Trust and investment management [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 3,038 | 3,316 | 3,372 |
Investment management fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 1,990 | 2,087 | 2,054 |
Trust fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 859 | 1,033 | 1,149 |
Other revenue [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 189 | 196 | 169 |
Card fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 4,016 | 3,907 | 3,960 |
Credit card interchange and network revenues [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 1,170 | 1,155 | 1,291 |
Credit card rewards and rebates [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Cost of rewards and rebates | 1,500 | 1,400 | 1,200 |
Debit card interchange and network revenues [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 2,148 | 2,053 | 1,964 |
Late fees, cash advance fees, balance transfer fees, and annual fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 698 | 699 | 705 |
Other [Member] | Service charges on deposit accounts [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | (15) | (15) | (16) |
Other [Member] | Overdraft fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 0 | 0 | 0 |
Other [Member] | Account charges [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | (15) | (15) | (16) |
Other [Member] | Brokerage advisory, commissions and other fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | (1,932) | (1,929) | (1,848) |
Other [Member] | Asset-based revenue [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | (1,480) | (1,484) | (1,371) |
Other [Member] | Transactional revenue [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | (383) | (380) | (400) |
Other [Member] | Other revenue [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | (69) | (65) | (77) |
Other [Member] | Trust and investment management [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | (840) | (932) | (917) |
Other [Member] | Investment management fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 0 | 0 | 0 |
Other [Member] | Trust fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | (840) | (932) | (916) |
Other [Member] | Other revenue [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 0 | 0 | (1) |
Other [Member] | Card fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | (4) | (4) | (4) |
Other [Member] | Credit card interchange and network revenues [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | (4) | (4) | (4) |
Other [Member] | Debit card interchange and network revenues [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 0 | 0 | 0 |
Other [Member] | Late fees, cash advance fees, balance transfer fees, and annual fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 0 | 0 | 0 |
Community Banking [Member] | Service charges on deposit accounts [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 2,823 | 2,641 | 2,909 |
Community Banking [Member] | Overdraft fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 1,965 | 1,776 | 1,941 |
Community Banking [Member] | Account charges [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 858 | 865 | 968 |
Community Banking [Member] | Brokerage advisory, commissions and other fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 1,931 | 1,887 | 1,830 |
Community Banking [Member] | Asset-based revenue [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 1,478 | 1,482 | 1,372 |
Community Banking [Member] | Transactional revenue [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 383 | 340 | 382 |
Community Banking [Member] | Other revenue [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 70 | 65 | 76 |
Community Banking [Member] | Trust and investment management [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 805 | 910 | 889 |
Community Banking [Member] | Investment management fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 0 | 0 | 1 |
Community Banking [Member] | Trust fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 804 | 908 | 887 |
Community Banking [Member] | Other revenue [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 1 | 2 | 1 |
Community Banking [Member] | Card fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 3,655 | 3,543 | 3,613 |
Community Banking [Member] | Credit card interchange and network revenues [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 809 | 792 | 944 |
Community Banking [Member] | Debit card interchange and network revenues [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 2,148 | 2,053 | 1,964 |
Community Banking [Member] | Late fees, cash advance fees, balance transfer fees, and annual fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 698 | 698 | 705 |
Wholesale Banking [Member] | Service charges on deposit accounts [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 1,974 | 2,074 | 2,201 |
Wholesale Banking [Member] | Overdraft fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 5 | 5 | 6 |
Wholesale Banking [Member] | Account charges [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 1,969 | 2,069 | 2,195 |
Wholesale Banking [Member] | Brokerage advisory, commissions and other fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 292 | 317 | 304 |
Wholesale Banking [Member] | Asset-based revenue [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 0 | 1 | 1 |
Wholesale Banking [Member] | Transactional revenue [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 26 | 70 | 40 |
Wholesale Banking [Member] | Other revenue [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 266 | 246 | 263 |
Wholesale Banking [Member] | Trust and investment management [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 486 | 445 | 523 |
Wholesale Banking [Member] | Investment management fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 0 | 0 | 0 |
Wholesale Banking [Member] | Trust fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 338 | 329 | 421 |
Wholesale Banking [Member] | Other revenue [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 148 | 116 | 102 |
Wholesale Banking [Member] | Card fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 359 | 362 | 345 |
Wholesale Banking [Member] | Credit card interchange and network revenues [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 359 | 361 | 345 |
Wholesale Banking [Member] | Debit card interchange and network revenues [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 0 | 0 | 0 |
Wholesale Banking [Member] | Late fees, cash advance fees, balance transfer fees, and annual fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 0 | 1 | 0 |
Wealth and Investment Management [Member] | Service charges on deposit accounts [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 16 | 16 | 17 |
Wealth and Investment Management [Member] | Overdraft fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 1 | 1 | 1 |
Wealth and Investment Management [Member] | Account charges [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 15 | 15 | 16 |
Wealth and Investment Management [Member] | Brokerage advisory, commissions and other fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 8,946 | 9,161 | 9,072 |
Wealth and Investment Management [Member] | Asset-based revenue [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 6,777 | 6,899 | 6,630 |
Wealth and Investment Management [Member] | Transactional revenue [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 1,534 | 1,618 | 1,802 |
Wealth and Investment Management [Member] | Other revenue [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 635 | 644 | 640 |
Wealth and Investment Management [Member] | Trust and investment management [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 2,587 | 2,893 | 2,877 |
Wealth and Investment Management [Member] | Investment management fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 1,990 | 2,087 | 2,053 |
Wealth and Investment Management [Member] | Trust fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 557 | 728 | 757 |
Wealth and Investment Management [Member] | Other revenue [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 40 | 78 | 67 |
Wealth and Investment Management [Member] | Card fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 6 | 6 | 6 |
Wealth and Investment Management [Member] | Credit card interchange and network revenues [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 6 | 6 | 6 |
Wealth and Investment Management [Member] | Debit card interchange and network revenues [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | 0 | 0 | 0 |
Wealth and Investment Management [Member] | Late fees, cash advance fees, balance transfer fees, and annual fees [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Fee income | $ 0 | $ 0 | $ 0 |
Employee Benefits, Changes in B
Employee Benefits, Changes in Benefit Obligation and Fair Value of Plan Assets (Details) - USD ($) $ in Millions | 12 Months Ended | 126 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2019 | |
Cash balance plan [Member] | ||||
Change in plan assets: | ||||
Employer contribution | $ 192 | |||
Employee Benefits and Other Expenses Textual [Abstract] | ||||
Net periodic benefit cost (income) | $ 0 | |||
Pension benefits [Member] | ||||
Change in plan assets: | ||||
Fair value of plan assets at beginning of year | 9,477 | |||
Fair value of plan assets at end of year | 10,763 | $ 9,477 | 10,763 | |
Pension benefits qualified [Member] | ||||
Change in benefit obligation: | ||||
Benefit obligation at beginning of year | 10,129 | 11,110 | ||
Service cost | 11 | 11 | $ 5 | |
Interest cost | 419 | 392 | 412 | |
Plan participants’ contributions | 0 | 0 | ||
Actuarial loss (gain) | 1,229 | (674) | ||
Benefits paid | (672) | (719) | ||
Medicare Part D subsidy | 0 | 0 | ||
Settlements, curtailments and amendments | (2) | 1 | ||
Other | 0 | 13 | ||
Foreign exchange impact | 2 | (5) | ||
Benefit obligation at end of year | 11,116 | 10,129 | 11,110 | 11,116 |
Change in plan assets: | ||||
Fair value of plan assets at beginning of year | 9,477 | 10,667 | ||
Actual return on plan assets | 1,758 | (478) | ||
Employer contribution | 199 | 10 | ||
Plan participants’ contributions | 0 | 0 | ||
Benefits paid | (672) | (719) | ||
Medicare Part D subsidy | 0 | 0 | ||
Settlement | (1) | 0 | ||
Other | 0 | 1 | ||
Foreign exchange impact | 2 | (4) | ||
Fair value of plan assets at end of year | 10,763 | 9,477 | 10,667 | 10,763 |
Funded status at end of year | (353) | (652) | (353) | |
Assets recognized on the balance sheet at end of year | 1 | 1 | 1 | |
Liability recognized on the balance sheet at end of year | (354) | (653) | (354) | |
Employee Benefits and Other Expenses Textual [Abstract] | ||||
Net periodic benefit cost (income) | 11 | 27 | (80) | |
Settlement loss | 0 | 134 | 7 | |
Pension benefits qualified [Member] | Cash balance plan [Member] | ||||
Employee Benefits and Other Expenses Textual [Abstract] | ||||
Settlement loss | 134 | |||
Pension benefits nonqualified [Member] | ||||
Change in benefit obligation: | ||||
Benefit obligation at beginning of year | 557 | 621 | ||
Service cost | 0 | 0 | 0 | |
Interest cost | 22 | 21 | 24 | |
Plan participants’ contributions | 0 | 0 | ||
Actuarial loss (gain) | 49 | (27) | ||
Benefits paid | (57) | (57) | ||
Medicare Part D subsidy | 0 | 0 | ||
Settlements, curtailments and amendments | 0 | 0 | ||
Other | 0 | 0 | ||
Foreign exchange impact | 1 | (1) | ||
Benefit obligation at end of year | 572 | 557 | 621 | 572 |
Change in plan assets: | ||||
Fair value of plan assets at beginning of year | 0 | 0 | ||
Actual return on plan assets | 0 | 0 | ||
Employer contribution | 57 | 57 | ||
Plan participants’ contributions | 0 | 0 | ||
Benefits paid | (57) | (57) | ||
Medicare Part D subsidy | 0 | 0 | ||
Settlement | 0 | 0 | ||
Other | 0 | 0 | ||
Foreign exchange impact | 0 | 0 | ||
Fair value of plan assets at end of year | 0 | 0 | 0 | 0 |
Funded status at end of year | (572) | (557) | (572) | |
Assets recognized on the balance sheet at end of year | 0 | 0 | 0 | |
Liability recognized on the balance sheet at end of year | (572) | (557) | (572) | |
Employee Benefits and Other Expenses Textual [Abstract] | ||||
Net periodic benefit cost (income) | 34 | 37 | 41 | |
Settlement loss | 2 | 2 | 6 | |
Other benefits [Member] | ||||
Change in benefit obligation: | ||||
Benefit obligation at beginning of year | 555 | 611 | ||
Service cost | 0 | 0 | 0 | |
Interest cost | 23 | 21 | 28 | |
Plan participants’ contributions | 44 | 48 | ||
Actuarial loss (gain) | (11) | (33) | ||
Benefits paid | (86) | (92) | ||
Medicare Part D subsidy | 0 | 2 | ||
Settlements, curtailments and amendments | 0 | 0 | ||
Other | 0 | 0 | ||
Foreign exchange impact | 0 | (2) | ||
Benefit obligation at end of year | 525 | 555 | 611 | 525 |
Change in plan assets: | ||||
Fair value of plan assets at beginning of year | 511 | 565 | ||
Actual return on plan assets | 64 | (17) | ||
Employer contribution | 7 | 5 | ||
Plan participants’ contributions | 44 | 48 | ||
Benefits paid | (86) | (92) | ||
Medicare Part D subsidy | 0 | 2 | ||
Settlement | 0 | 0 | ||
Other | 0 | 0 | ||
Foreign exchange impact | 0 | 0 | ||
Fair value of plan assets at end of year | 540 | 511 | 565 | 540 |
Funded status at end of year | 15 | (44) | 15 | |
Assets recognized on the balance sheet at end of year | 44 | 0 | 44 | |
Liability recognized on the balance sheet at end of year | (29) | (44) | $ (29) | |
Employee Benefits and Other Expenses Textual [Abstract] | ||||
Net periodic benefit cost (income) | (32) | (38) | (21) | |
Settlement loss | $ 0 | $ 0 | $ 0 |
Employee Benefits, Pension Plan
Employee Benefits, Pension Plans With Benefit Obligations in Excess of Plan Assets (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Pension benefits [Member] | ||
Pension Plans Information with Benefit Obligations in Excess of Plan Assets [Abstract] | ||
Projected benefit obligation | $ 11,653 | $ 10,640 |
Accumulated benefit obligation | 11,634 | 10,627 |
Fair value of plan assets | 10,727 | 9,429 |
Other benefits [Member] | ||
Pension Plans Information with Benefit Obligations in Excess of Plan Assets [Abstract] | ||
Accumulated benefit obligation | 29 | 555 |
Fair value of plan assets | $ 0 | $ 511 |
Employee Benefits, Net Periodic
Employee Benefits, Net Periodic Benefit Cost and Other Comprehensive Income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Other changes in plan assets and benefit obligations recognized in other comprehensive income: | |||
Net actuarial loss (gain) | $ 40 | $ 434 | $ (49) |
Amortization of net actuarial gain (loss) | (141) | (127) | (150) |
Total recognized in other comprehensive income | (93) | 181 | (202) |
Pension benefits qualified [Member] | |||
Components of net periodic benefit cost [Abstract] | |||
Service cost | 11 | 11 | 5 |
Interest cost (1) | 419 | 392 | 412 |
Expected return on plan assets (1) | (567) | (641) | (652) |
Amortization of net actuarial loss (gain) (1) | 148 | 131 | 148 |
Amortization of prior service credit (1) | 0 | 0 | 0 |
Settlement loss | 0 | 134 | 7 |
Net periodic benefit cost | 11 | 27 | (80) |
Other changes in plan assets and benefit obligations recognized in other comprehensive income: | |||
Net actuarial loss (gain) | 38 | 445 | 33 |
Amortization of net actuarial gain (loss) | (148) | (131) | (148) |
Prior service cost | 0 | 1 | 1 |
Amortization of prior service credit | 0 | 0 | 0 |
Settlement | 0 | (134) | (8) |
Total recognized in other comprehensive income | (110) | 181 | (122) |
Total recognized in net periodic benefit cost and other comprehensive income | (99) | 208 | (202) |
Pension benefits nonqualified [Member] | |||
Components of net periodic benefit cost [Abstract] | |||
Service cost | 0 | 0 | 0 |
Interest cost (1) | 22 | 21 | 24 |
Expected return on plan assets (1) | 0 | 0 | 0 |
Amortization of net actuarial loss (gain) (1) | 10 | 14 | 11 |
Amortization of prior service credit (1) | 0 | 0 | 0 |
Settlement loss | 2 | 2 | 6 |
Net periodic benefit cost | 34 | 37 | 41 |
Other changes in plan assets and benefit obligations recognized in other comprehensive income: | |||
Net actuarial loss (gain) | 49 | (27) | 46 |
Amortization of net actuarial gain (loss) | (10) | (14) | (11) |
Prior service cost | 0 | 0 | 0 |
Amortization of prior service credit | 0 | 0 | 0 |
Settlement | (2) | (2) | (6) |
Total recognized in other comprehensive income | 37 | (43) | 29 |
Total recognized in net periodic benefit cost and other comprehensive income | 71 | (6) | 70 |
Other benefits [Member] | |||
Components of net periodic benefit cost [Abstract] | |||
Service cost | 0 | 0 | 0 |
Interest cost (1) | 23 | 21 | 28 |
Expected return on plan assets (1) | (28) | (31) | (30) |
Amortization of net actuarial loss (gain) (1) | (17) | (18) | (9) |
Amortization of prior service credit (1) | (10) | (10) | (10) |
Settlement loss | 0 | 0 | 0 |
Net periodic benefit cost | (32) | (38) | (21) |
Other changes in plan assets and benefit obligations recognized in other comprehensive income: | |||
Net actuarial loss (gain) | (47) | 15 | (128) |
Amortization of net actuarial gain (loss) | 17 | 18 | 9 |
Prior service cost | 0 | 0 | 0 |
Amortization of prior service credit | 10 | 10 | 10 |
Settlement | 0 | 0 | 0 |
Total recognized in other comprehensive income | (20) | 43 | (109) |
Total recognized in net periodic benefit cost and other comprehensive income | $ (52) | $ 5 | $ (130) |
Employee Benefits, Benefits Rec
Employee Benefits, Benefits Recognized in Cumulative OCI and Weighted-Average Assumptions in Determining Net Periodic Benefit Cost (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Assumed Health Care Cost Trend Rates Textuals [Abstract] | |||
Health care cost trend rate assumed for next fiscal year, projected benefit obligation | 8.30% | ||
Ultimate health care cost trend rate, projected benefit obligation | 4.50% | ||
Year that rate reaches ultimate health care cost trend rate, projected benefit obligation | 2028 | ||
Defined benefit plan health care cost initial annual tend rate assumed for current fiscal year periodic benefit cost | 8.40% | ||
Ultimate health care cost trend rate, periodic benefit cost | 4.50% | ||
Year that rate reaches ultimate health care cost trend rate, periodic benefit cost | 2026 | ||
Pension benefits qualified [Member] | |||
Benefits Recognized in Cumulative Other Comprehensive Income [Abstract] | |||
Net actuarial loss (gain) | $ 3,226 | $ 3,336 | |
Net prior service cost (credit) | 1 | 1 | |
Total | $ 3,227 | $ 3,337 | |
Defined Benefit Plan, Weighted Average Assumptions Used to Estimate Projected Benefit Obligation [Abstract] | |||
Discount rate | 3.21% | 4.30% | |
Interest credit rate | 2.70% | 3.22% | |
Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 4.30% | 3.65% | 3.98% |
Interest crediting rate | 3.22% | 2.74% | 2.92% |
Expected return on plan assets | 6.24% | 6.24% | 6.70% |
Pension benefits nonqualified [Member] | |||
Benefits Recognized in Cumulative Other Comprehensive Income [Abstract] | |||
Net actuarial loss (gain) | $ 186 | $ 149 | |
Net prior service cost (credit) | 0 | 0 | |
Total | $ 186 | $ 149 | |
Defined Benefit Plan, Weighted Average Assumptions Used to Estimate Projected Benefit Obligation [Abstract] | |||
Discount rate | 3.03% | 4.20% | |
Interest credit rate | 1.35% | 2.18% | |
Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 4.10% | 3.65% | 3.93% |
Interest crediting rate | 2.05% | 1.68% | 1.85% |
Other benefits [Member] | |||
Benefits Recognized in Cumulative Other Comprehensive Income [Abstract] | |||
Net actuarial loss (gain) | $ (357) | $ (327) | |
Net prior service cost (credit) | (146) | (156) | |
Total | $ (503) | $ (483) | |
Defined Benefit Plan, Weighted Average Assumptions Used to Estimate Projected Benefit Obligation [Abstract] | |||
Discount rate | 3.10% | 4.24% | |
Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 4.24% | 3.54% | 4.00% |
Expected return on plan assets | 5.75% | 5.75% | 5.75% |
Real estate, venture capital, private equity and other investments [Member] | Cash balance plan [Member] | |||
Investment Strategy and Asset Allocation Textuals [Abstract] | |||
Target asset allocation | 10.00% | ||
Minimum [Member] | |||
Assumed Health Care Cost Trend Rates Textuals [Abstract] | |||
Decrease in assumed health care cost trend, rate, projected benefit obligation | 0.40% | ||
Decrease in assumed health care cost trend, rate, periodic benefit cost | 0.50% | ||
Minimum [Member] | Equity securities [Member] | Cash balance plan [Member] | |||
Investment Strategy and Asset Allocation Textuals [Abstract] | |||
Target asset allocation | 20.00% | ||
Minimum [Member] | Equity securities [Member] | 401(h) trust [Member] | |||
Investment Strategy and Asset Allocation Textuals [Abstract] | |||
Target asset allocation | 40.00% | ||
Minimum [Member] | Fixed Income Funds [Member] | Cash balance plan [Member] | |||
Investment Strategy and Asset Allocation Textuals [Abstract] | |||
Target asset allocation | 50.00% | ||
Minimum [Member] | Fixed Income Funds [Member] | 401(h) trust [Member] | |||
Investment Strategy and Asset Allocation Textuals [Abstract] | |||
Target asset allocation | 40.00% | ||
Maximum [Member] | |||
Assumed Health Care Cost Trend Rates Textuals [Abstract] | |||
Decrease in assumed health care cost trend, rate, projected benefit obligation | 0.50% | ||
Decrease in assumed health care cost trend, rate, periodic benefit cost | 0.60% | ||
Maximum [Member] | Equity securities [Member] | Cash balance plan [Member] | |||
Investment Strategy and Asset Allocation Textuals [Abstract] | |||
Target asset allocation | 40.00% | ||
Maximum [Member] | Equity securities [Member] | 401(h) trust [Member] | |||
Investment Strategy and Asset Allocation Textuals [Abstract] | |||
Target asset allocation | 60.00% | ||
Maximum [Member] | Fixed Income Funds [Member] | Cash balance plan [Member] | |||
Investment Strategy and Asset Allocation Textuals [Abstract] | |||
Target asset allocation | 70.00% | ||
Maximum [Member] | Fixed Income Funds [Member] | 401(h) trust [Member] | |||
Investment Strategy and Asset Allocation Textuals [Abstract] | |||
Target asset allocation | 60.00% |
Employee Benefits, Projected Be
Employee Benefits, Projected Benefits Payments (Details) $ in Millions | Dec. 31, 2019USD ($) |
Pension benefits qualified [Member] | |
Future Benefit Payments: | |
2020 | $ 826 |
2021 | 811 |
2022 | 797 |
2023 | 738 |
2024 | 720 |
2025-2029 | 3,391 |
Pension benefits nonqualified [Member] | |
Future Benefit Payments: | |
2020 | 50 |
2021 | 48 |
2022 | 45 |
2023 | 44 |
2024 | 42 |
2025-2029 | 187 |
Other benefits [Member] | |
Future Benefit Payments: | |
2020 | 42 |
2021 | 42 |
2022 | 41 |
2023 | 40 |
2024 | 38 |
2025-2029 | $ 167 |
Employee Benefits, Pension and
Employee Benefits, Pension and Other Benefit Plan Assets (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019USD ($)strategy | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | $ 10,224 | $ 8,868 | |
Total plan assets | 10,763 | 9,477 | |
Net receivables | 61 | 43 | |
Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 540 | 511 | |
Total plan assets | 540 | 511 | $ 565 |
Net receivables | 0 | 0 | |
Level 1 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 2,893 | 2,615 | |
Level 1 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 69 | 82 | |
Level 2 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 7,315 | 6,231 | |
Level 2 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 447 | 405 | |
Level 3 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 16 | 22 | |
Total plan assets | 16 | 22 | 28 |
Level 3 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 24 | 24 | |
Total plan assets | 24 | 24 | 23 |
Fair value measured at net asset value per share [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Total plan assets | 478 | 566 | |
Fair value measured at net asset value per share [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Total plan assets | 0 | 0 | |
Cash and cash equivalents [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 290 | 286 | |
Cash and cash equivalents [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 198 | 91 | |
Cash and cash equivalents [Member] | Level 1 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 3 | 2 | |
Cash and cash equivalents [Member] | Level 1 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 53 | 69 | |
Cash and cash equivalents [Member] | Level 2 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 287 | 284 | |
Cash and cash equivalents [Member] | Level 2 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 145 | 22 | |
Cash and cash equivalents [Member] | Level 3 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Cash and cash equivalents [Member] | Level 3 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Long duration fixed income [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | $ 6,080 | 5,316 | |
Investment Strategy and Asset Allocation Textuals [Abstract] | |||
Duration target | 10 years | ||
Long duration fixed income [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | $ 0 | 0 | |
Long duration fixed income [Member] | Level 1 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 821 | 902 | |
Long duration fixed income [Member] | Level 1 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Long duration fixed income [Member] | Level 2 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 5,259 | 4,414 | |
Long duration fixed income [Member] | Level 2 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Long duration fixed income [Member] | Level 3 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Long duration fixed income [Member] | Level 3 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Intermediate (core) fixed income [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 167 | 118 | |
Intermediate (core) fixed income [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 177 | 183 | |
Intermediate (core) fixed income [Member] | Level 1 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Intermediate (core) fixed income [Member] | Level 1 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Intermediate (core) fixed income [Member] | Level 2 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 167 | 118 | |
Intermediate (core) fixed income [Member] | Level 2 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 177 | 183 | |
Intermediate (core) fixed income [Member] | Level 3 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Intermediate (core) fixed income [Member] | Level 3 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
High-yield fixed income [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 217 | 114 | |
High-yield fixed income [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
High-yield fixed income [Member] | Level 1 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
High-yield fixed income [Member] | Level 1 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
High-yield fixed income [Member] | Level 2 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 217 | 114 | |
High-yield fixed income [Member] | Level 2 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
High-yield fixed income [Member] | Level 3 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
High-yield fixed income [Member] | Level 3 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
International fixed income [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 130 | 241 | |
International fixed income [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
International fixed income [Member] | Level 1 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 33 | 55 | |
International fixed income [Member] | Level 1 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
International fixed income [Member] | Level 2 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 97 | 186 | |
International fixed income [Member] | Level 2 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
International fixed income [Member] | Level 3 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
International fixed income [Member] | Level 3 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Domestic large-cap stocks [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | $ 990 | 820 | |
Investment Strategy and Asset Allocation Textuals [Abstract] | |||
Number of unique investment strategies | strategy | 8 | ||
Domestic large-cap stocks [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | $ 73 | 115 | |
Domestic large-cap stocks [Member] | Level 1 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 700 | 582 | |
Domestic large-cap stocks [Member] | Level 1 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Domestic large-cap stocks [Member] | Level 2 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 290 | 238 | |
Domestic large-cap stocks [Member] | Level 2 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 73 | 115 | |
Domestic large-cap stocks [Member] | Level 3 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Domestic large-cap stocks [Member] | Level 3 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Domestic mid-cap stocks [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 323 | 256 | |
Domestic mid-cap stocks [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 19 | 28 | |
Domestic mid-cap stocks [Member] | Level 1 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 210 | 167 | |
Domestic mid-cap stocks [Member] | Level 1 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Domestic mid-cap stocks [Member] | Level 2 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 113 | 89 | |
Domestic mid-cap stocks [Member] | Level 2 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 19 | 28 | |
Domestic mid-cap stocks [Member] | Level 3 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Domestic mid-cap stocks [Member] | Level 3 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Domestic small-cap stocks [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 210 | 148 | |
Domestic small-cap stocks [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 11 | 17 | |
Domestic small-cap stocks [Member] | Level 1 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 201 | 141 | |
Domestic small-cap stocks [Member] | Level 1 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Domestic small-cap stocks [Member] | Level 2 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 9 | 7 | |
Domestic small-cap stocks [Member] | Level 2 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 11 | 17 | |
Domestic small-cap stocks [Member] | Level 3 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Domestic small-cap stocks [Member] | Level 3 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Global stocks [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | $ 466 | 429 | |
Investment Strategy and Asset Allocation Textuals [Abstract] | |||
Number of unique investment strategies | strategy | 5 | ||
Global stocks [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | $ 0 | 0 | |
Global stocks [Member] | Level 1 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 92 | 72 | |
Global stocks [Member] | Level 1 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Global stocks [Member] | Level 2 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 374 | 357 | |
Global stocks [Member] | Level 2 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Global stocks [Member] | Level 3 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Global stocks [Member] | Level 3 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
International stocks [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | $ 687 | 559 | |
Investment Strategy and Asset Allocation Textuals [Abstract] | |||
Number of unique investment strategies | strategy | 4 | ||
International stocks [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | $ 34 | 49 | |
International stocks [Member] | Level 1 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 567 | 449 | |
International stocks [Member] | Level 1 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 12 | 9 | |
International stocks [Member] | Level 2 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 120 | 110 | |
International stocks [Member] | Level 2 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 22 | 40 | |
International stocks [Member] | Level 3 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
International stocks [Member] | Level 3 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Emerging market stocks [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 249 | 205 | |
Emerging market stocks [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Emerging market stocks [Member] | Level 1 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Emerging market stocks [Member] | Level 1 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Emerging market stocks [Member] | Level 2 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 249 | 205 | |
Emerging market stocks [Member] | Level 2 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Emerging market stocks [Member] | Level 3 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Emerging market stocks [Member] | Level 3 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Real estate [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 183 | 195 | |
Real estate [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Real estate [Member] | Level 1 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 141 | 148 | |
Real estate [Member] | Level 1 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Real estate [Member] | Level 2 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 35 | 33 | |
Real estate [Member] | Level 2 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Real estate [Member] | Level 3 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 7 | 14 | |
Total plan assets | 7 | 14 | 20 |
Real estate [Member] | Level 3 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Hedge funds [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 118 | 95 | |
Hedge funds [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Hedge funds [Member] | Level 1 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 68 | 63 | |
Hedge funds [Member] | Level 1 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Hedge funds [Member] | Level 2 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 50 | 32 | |
Hedge funds [Member] | Level 2 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Hedge funds [Member] | Level 3 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Hedge funds [Member] | Level 3 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Other [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 114 | 86 | |
Other [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 28 | 28 | |
Other [Member] | Level 1 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 57 | 34 | |
Other [Member] | Level 1 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 4 | 4 | |
Other [Member] | Level 2 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 48 | 44 | |
Other [Member] | Level 2 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 0 | 0 | |
Other [Member] | Level 3 [Member] | Pension plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 9 | 8 | |
Total plan assets | 9 | 8 | 8 |
Other [Member] | Level 3 [Member] | Other benefits plan assets [Member] | |||
Balances of pension plan and other benefit plan assets measured at fair value [Abstract] | |||
Plan investments - excluding investments at NAV | 24 | 24 | |
Total plan assets | $ 24 | $ 24 | $ 23 |
Maximum [Member] | Global stocks [Member] | Pension plan assets [Member] | |||
Investment Strategy and Asset Allocation Textuals [Abstract] | |||
Target asset allocation | 60.00% | ||
Maximum [Member] | Investment Strategy [Member] | Defined Benefit Plan, Total Plan Assets [Member] | Domestic large-cap stocks [Member] | Pension plan assets [Member] | |||
Investment Strategy and Asset Allocation Textuals [Abstract] | |||
Concentration risk, percentage | 2.00% | ||
Maximum [Member] | Investment Strategy [Member] | Defined Benefit Plan, Total Plan Assets [Member] | Global stocks [Member] | Pension plan assets [Member] | |||
Investment Strategy and Asset Allocation Textuals [Abstract] | |||
Concentration risk, percentage | 1.50% | ||
Maximum [Member] | Investment Strategy [Member] | Defined Benefit Plan, Total Plan Assets [Member] | International stocks [Member] | Pension plan assets [Member] | |||
Investment Strategy and Asset Allocation Textuals [Abstract] | |||
Concentration risk, percentage | 2.50% | ||
Minimum [Member] | Global stocks [Member] | Pension plan assets [Member] | |||
Investment Strategy and Asset Allocation Textuals [Abstract] | |||
Target asset allocation | 40.00% |
Employee Benefits, Fair Value L
Employee Benefits, Fair Value Level 3 Pension and Other Benefit Plan Assets (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Defined Contribution Retirement Plans Textual [Abstract] | |||
Defined contribution retirement plan expense | $ 1,100 | $ 1,200 | $ 1,200 |
Pension plan assets [Member] | |||
Changes in Level 3 pension plan assets measured at fair value [Abstract] | |||
Fair value of plan assets at beginning of year | 9,477 | ||
Fair value of plan assets at end of year | 10,763 | 9,477 | |
Pension plan assets [Member] | Level 3 [Member] | |||
Changes in Level 3 pension plan assets measured at fair value [Abstract] | |||
Fair value of plan assets at beginning of year | 22 | 28 | |
Gross realized gain (loss) | 1 | (2) | |
Gross unrealized gain (loss) | 3 | (1) | |
Purchases, sales and settlements (net) | (10) | (3) | |
Transfers Into/ (Out of) Level 3 | 0 | 0 | |
Fair value of plan assets at end of year | 16 | 22 | 28 |
Other benefits plan assets [Member] | |||
Changes in Level 3 pension plan assets measured at fair value [Abstract] | |||
Fair value of plan assets at beginning of year | 511 | 565 | |
Fair value of plan assets at end of year | 540 | 511 | 565 |
Other benefits plan assets [Member] | Level 3 [Member] | |||
Changes in Level 3 pension plan assets measured at fair value [Abstract] | |||
Fair value of plan assets at beginning of year | 24 | 23 | |
Gross realized gain (loss) | 0 | 1 | |
Gross unrealized gain (loss) | 0 | 0 | |
Purchases, sales and settlements (net) | 0 | 0 | |
Transfers Into/ (Out of) Level 3 | 0 | 0 | |
Fair value of plan assets at end of year | 24 | 24 | 23 |
Real estate [Member] | Pension plan assets [Member] | Level 3 [Member] | |||
Changes in Level 3 pension plan assets measured at fair value [Abstract] | |||
Fair value of plan assets at beginning of year | 14 | 20 | |
Gross realized gain (loss) | 1 | (2) | |
Gross unrealized gain (loss) | 1 | (1) | |
Purchases, sales and settlements (net) | (9) | (3) | |
Transfers Into/ (Out of) Level 3 | 0 | 0 | |
Fair value of plan assets at end of year | 7 | 14 | 20 |
Other [Member] | Pension plan assets [Member] | Level 3 [Member] | |||
Changes in Level 3 pension plan assets measured at fair value [Abstract] | |||
Fair value of plan assets at beginning of year | 8 | 8 | |
Gross realized gain (loss) | 0 | 0 | |
Gross unrealized gain (loss) | 2 | 0 | |
Purchases, sales and settlements (net) | (1) | 0 | |
Transfers Into/ (Out of) Level 3 | 0 | 0 | |
Fair value of plan assets at end of year | 9 | 8 | 8 |
Other [Member] | Other benefits plan assets [Member] | Level 3 [Member] | |||
Changes in Level 3 pension plan assets measured at fair value [Abstract] | |||
Fair value of plan assets at beginning of year | 24 | 23 | |
Gross realized gain (loss) | 0 | 1 | |
Gross unrealized gain (loss) | 0 | 0 | |
Purchases, sales and settlements (net) | 0 | 0 | |
Transfers Into/ (Out of) Level 3 | 0 | 0 | |
Fair value of plan assets at end of year | $ 24 | $ 24 | $ 23 |
United States [Member] | Wells Fargo And Company 401(k) Plan [Member] | |||
Defined Contribution Retirement Plans Textual [Abstract] | |||
Service period for employee to be eligible for 401(k) plan | 1 year | ||
Percentage of employee contribution (up to 50%) | 50.00% | ||
Service period for employee to be eligible for company matching contributions | 1 year | ||
Percentage of employer match (up to 6%) | 6.00% | ||
Matching contribution vesting percentage | 100.00% | ||
Service period for employee to be eligible for profit sharing contributions | 1 year | ||
Profit sharing contribution vesting period | 3 years |
Employee Benefits and Other E_3
Employee Benefits and Other Expenses, Expenses Not Otherwise Shown Separately In Financial Statements (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Expenses Not Otherwise Shown Separately In Financial Statement [Abstract] | |||
Operating losses | $ 4,321 | $ 3,124 | $ 5,492 |
Outside professional services | 3,198 | 3,306 | 3,813 |
Contract services | 2,489 | 2,192 | 1,638 |
Leases | 1,155 | 1,334 | 1,351 |
Advertising and promotion | 1,076 | 857 | 614 |
Outside data processing | 673 | 660 | 891 |
Other | 3,840 | 4,129 | 3,789 |
Total other noninterest expense | $ 16,752 | $ 15,602 | $ 17,588 |
Income Taxes, Components of Inc
Income Taxes, Components of Income Tax Expense (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Current: | |||
Federal | $ 5,244 | $ 2,382 | $ 3,507 |
State and local | 2,005 | 1,140 | 561 |
Non-U.S. | 154 | 170 | 183 |
Total current | 7,403 | 3,692 | 4,251 |
Deferred: | |||
Federal | (2,374) | 1,706 | 156 |
State and local | (863) | 236 | 564 |
Non-U.S. | (9) | 28 | (54) |
Total deferred | (3,246) | 1,970 | 666 |
Income tax expense | $ 4,157 | $ 5,662 | $ 4,917 |
Income Taxes, Net Deferred Tax
Income Taxes, Net Deferred Tax Asset (Liability) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Deferred tax assets | ||
Allowance for credit losses | $ 2,587 | $ 2,644 |
Deferred compensation and employee benefits | 2,969 | 2,893 |
Accrued expenses | 874 | 815 |
PCI loans | 69 | 467 |
Basis difference in debt securities | 690 | 98 |
Net unrealized losses on debt securities | 0 | 1,022 |
Net operating loss and tax credit carry forwards | 363 | 366 |
Other | 1,207 | 1,272 |
Total deferred tax assets | 8,759 | 9,577 |
Deferred tax assets valuation allowance | (306) | (315) |
Deferred tax liabilities | ||
Mortgage servicing rights | (3,080) | (3,475) |
Leasing | (4,413) | (4,271) |
Basis difference in investments | (1,626) | (1,301) |
Mark to market, net | (4,146) | (7,252) |
Intangible assets | (511) | (427) |
Net unrealized gains on debt securities | (504) | 0 |
Insurance reserves | (561) | (696) |
Other | (890) | (831) |
Total deferred tax liabilities | (15,731) | (18,253) |
Net deferred tax liability | (7,278) | (8,991) |
Valuation allowance | 306 | 315 |
Net operating loss related to deferred tax assets | $ 363 | |
Expiration date of tax credit carryforwards | Dec. 31, 2039 | |
Undistributed Earnings of Foreign Subsidiaries | $ 0 | |
Accounting Standards Update 2018-02 [Member] | ||
Deferred tax liabilities | ||
Adoption of accounting standard | 0 | |
Accounting Standards Update 2018-02 [Member] | Retained earnings [Member] | ||
Deferred tax liabilities | ||
Adoption of accounting standard | $ 400 |
Income Taxes, Effective Income
Income Taxes, Effective Income Tax Expense and Rate (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | |||
Statutory federal income tax expense | $ 4,978 | $ 5,892 | $ 9,485 |
Statutory federal income tax expense, rate | 21.00% | 21.00% | 35.00% |
Change in tax rate resulting from: | |||
State and local taxes on income, net of federal income tax benefit | $ 896 | $ 1,076 | $ 926 |
State and local taxes on income, net of federal income tax benefit, rate | 3.80% | 3.90% | 3.40% |
Tax-exempt interest | $ (460) | $ (494) | $ (812) |
Tax-exempt interest, rate | (2.00%) | (1.80%) | (3.00%) |
Tax credits | $ (1,715) | $ (1,537) | $ (1,419) |
Tax credits, rate | (7.20%) | (5.50%) | (5.20%) |
Non-deductible accruals | $ 653 | $ 236 | $ 1,320 |
Non-deductible accruals, rate | 2.70% | 0.80% | 4.90% |
Tax reform | $ 0 | $ 164 | $ (3,713) |
Tax reform, rate | 0 | 0.006 | (0.137) |
Other | $ (195) | $ 325 | $ (870) |
Other, rate | (0.80%) | 1.20% | (3.30%) |
Income tax expense | $ 4,157 | $ 5,662 | $ 4,917 |
Effective income tax rate | 17.50% | 20.20% | 18.10% |
Income tax expense (benefit), continuing operations, adjustment of deferred tax (asset) liability | $ (3,900) | ||
Effective income tax rate reconciliation, repatriation of non-US earnings, amount | $ 173 | ||
Effective income tax rate reconciliation, tax reform act, amount | $ 164 |
Income Taxes, Change in Unrecog
Income Taxes, Change in Unrecognized Tax Benefits (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||||
Balance at beginning of year | $ 5,750 | $ 5,167 | ||
Additions: | ||||
For tax positions related to the current year | 123 | 393 | ||
For tax positions related to prior years | 91 | 503 | ||
Reductions: | ||||
For tax positions related to prior years | (378) | (262) | ||
Lapse of statute of limitations | (5) | (7) | ||
Settlements with tax authorities | (123) | (44) | ||
Balance at end of year | 5,458 | 5,750 | ||
Unrecognized tax benefits | 5,458 | 5,167 | $ 5,458 | $ 5,750 |
Unrecognized tax benefits that would impact effective tax rate | 3,800 | |||
Unrecognized tax benefits related to income tax positions on temporary differences | 1,700 | |||
Accrued interest and penalties | 998 | $ 968 | ||
Recognized interest and penalties expense (benefit) | $ 35 | $ 200 | ||
Possible decrease in unrecognized tax benefits (up to $1 billion) | $ 1,300 |
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 | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Earnings Per Common Share [Abstract] | |||
Wells Fargo net income | $ 19,549 | $ 22,393 | $ 22,183 |
Less: Preferred stock dividends and other | 1,611 | 1,704 | 1,629 |
Wells Fargo net income applicable to common stock (numerator) | $ 17,938 | $ 20,689 | $ 20,554 |
Earnings per common share | |||
Average common shares outstanding (denominator) (in shares) | 4,393.1 | 4,799.7 | 4,964.6 |
Per share (in dollars per share) | $ 4.08 | $ 4.31 | $ 4.14 |
Diluted earnings per common share | |||
Average common shares outstanding (in shares) | 4,393.1 | 4,799.7 | 4,964.6 |
Diluted average common shares outstanding (denominator) (in shares) | 4,425.4 | 4,838.4 | 5,017.3 |
Per share (in dollars per share) | $ 4.05 | $ 4.28 | $ 4.10 |
Stock options [Member] | |||
Diluted earnings per common share | |||
Weighted average number of diluted shares outstanding, adjustment (in shares) | 0.8 | 8 | 17.1 |
Restricted share rights [Member] | |||
Diluted earnings per common share | |||
Weighted average number of diluted shares outstanding, adjustment (in shares) | 31.5 | 26.3 | 24.7 |
Warrants [Member] | |||
Diluted earnings per common share | |||
Weighted average number of diluted shares outstanding, adjustment (in shares) | 0 | 4.4 | 10.9 |
Series K [Member] | |||
Earnings per Common Share, Basic and Diluted [Line Items] | |||
Preferred stock, accretion of redemption discount | $ 220 | ||
Series J [Member] | |||
Earnings per Common Share, Basic and Diluted [Line Items] | |||
Preferred stock, accretion of redemption discount | $ 155 |
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 | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Convertible Preferred Stock, Series L [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive Instruments | 25.3 | 25.3 | 25.3 |
Stock options [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive Instruments | 0 | 0.3 | 1.9 |
Earnings Per Common Share Earni
Earnings Per Common Share Earnings Per Common Share Dividends Declared Per Common Shares (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Earnings Per Share, Basic and Diluted, Other Disclosures [Abstract] | |||
Dividends declared per common share (in dollars per share) | $ 1.92 | $ 1.64 | $ 1.54 |
Other Comprehensive Income, Com
Other Comprehensive Income, Components of Other Comprehensive Income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Debt securities (1): | |||
Net unrealized gains (losses) arising during the period, Before tax | $ 5,439 | $ (4,493) | $ 2,719 |
Net unrealized gains (losses) arising during the period, Tax effect | (1,337) | 1,100 | (1,056) |
Net unrealized gains (losses) arising during the period, Net of tax | 4,102 | (3,393) | 1,663 |
Reclassification of net (gains) losses to net income, Before tax | 122 | 248 | (737) |
Reclassification of net (gains) losses to net income, Tax effect | (31) | (61) | 278 |
Reclassification of net (gains) losses to net income, Net of tax | 91 | 187 | (459) |
Net change, Before tax | 5,561 | (4,245) | 1,982 |
Net change, Tax effect | (1,368) | 1,039 | (778) |
Net change, Net of tax | 4,193 | (3,206) | 1,204 |
Cash Flow Hedges: | |||
Reclassification of net (gains) losses to net income on cash flow hedges, before tax | 299 | 294 | (543) |
Net change, Before tax | 275 | (238) | (1,083) |
Net change, Tax effect | (68) | 58 | 408 |
Net change, Net of tax | 207 | (180) | (675) |
Defined benefit plans adjustments: | |||
Net actuarial and prior service gains (losses) rising during the period, Before tax | (40) | (434) | 49 |
Net actuarial and prior service gains (losses) arising during the period, Tax effect | 10 | 106 | (12) |
Net actuarial and prior service gains (losses) arising during the period, Net of tax | (30) | (328) | 37 |
Amortization of net actuarial loss, Before tax | 141 | 127 | 150 |
Amortization of net actuarial loss, Tax effect | (35) | (31) | (57) |
Amortization of net actuarial loss, Net of tax | 106 | 96 | 93 |
Settlements and other, Before tax | (8) | 126 | 3 |
Settlements and other, Tax effect | 5 | (29) | 2 |
Settlements and other, Net of tax | (3) | 97 | 5 |
Subtotal reclassifications to noninterest expense and employee benefits, Before tax | 133 | 253 | 153 |
Subtotal reclassifications to noninterest expense and employee benefits, Tax effect | (30) | (60) | (55) |
Subtotal reclassifications to noninterest expense and employee benefits, Net of tax | 103 | 193 | 98 |
Net change, Before tax | 93 | (181) | 202 |
Net change, Tax effect | (20) | 46 | (67) |
Net change, Net of tax | 73 | (135) | 135 |
Foreign currency translation adjustments: | |||
Net unrealized gains (losses) arising during the period, Before tax | 73 | (156) | 96 |
Net unrealized gains (losses) arising during the period, Tax effect | (2) | 1 | 3 |
Net unrealized gains (losses) arising during the period, Net of tax | 71 | (155) | 99 |
Net change, Before tax | 73 | (156) | 96 |
Net change, Tax effect | (2) | 1 | 3 |
Net change, Net of tax | 71 | (155) | 99 |
Other comprehensive income (loss), before tax | 6,002 | (4,820) | 1,197 |
Other comprehensive income (loss), tax effect | (1,458) | 1,144 | (434) |
Other comprehensive income (loss), net of tax | 4,544 | (3,676) | 763 |
Less: Other comprehensive loss from noncontrolling interests | 0 | (2) | (62) |
Wells Fargo other comprehensive income (loss), net of tax | 4,544 | (3,674) | 825 |
Fair value hedging [Member] | |||
Fair Value Hedges: | |||
Change in fair value of excluded components on fair value hedges, before tax | (3) | (254) | (253) |
Change in fair value of excluded components on fair value hedges, tax | 1 | 63 | 95 |
Change in fair value of excluded components on fair value hedges, net of tax | (2) | (191) | (158) |
Cash flow hedging [Member] | |||
Cash Flow Hedges: | |||
Net unrealized gains (losses) arising during the period on cash flow hedges, Before Tax | (278) | (287) | |
Net unrealized gains (losses) arising during the period on cash flow hedges, Tax | 5 | 67 | 108 |
Net unrealized gains (losses) arising during the period on cash flow hedges, Net of Tax | (16) | (211) | (179) |
Reclassification of net (gains) losses to net income on cash flow hedges, before tax | 299 | 294 | (543) |
Reclassification of net (gains) losses to net income on cash flow hedges, tax | (74) | (72) | 205 |
Reclassification of net (gains) losses to net income on cash flow hedges, net of tax | 225 | 222 | (338) |
Interest expense on long-term debt [Member] | Cash flow hedging [Member] | |||
Cash Flow Hedges: | |||
Reclassification of net (gains) losses to net income on cash flow hedges, before tax | 8 | 2 | 8 |
Reclassification of net (gains) losses to net income on cash flow hedges, tax | (2) | 0 | (3) |
Reclassification of net (gains) losses to net income on cash flow hedges, net of tax | 6 | 2 | 5 |
Other noninterest income [Member] | |||
Debt securities (1): | |||
Reclassification of net (gains) losses to net income, Before tax | (1) | (1) | 0 |
Reclassification of net (gains) losses to net income, Tax effect | 0 | 0 | 0 |
Reclassification of net (gains) losses to net income, Net of tax | (1) | (1) | 0 |
Debt securities [Member] | Interest income [Member] | |||
Debt securities (1): | |||
Reclassification of net (gains) losses to net income, Before tax | 263 | 357 | 198 |
Reclassification of net (gains) losses to net income, Tax effect | (65) | (88) | (75) |
Reclassification of net (gains) losses to net income, Net of tax | 198 | 269 | 123 |
Debt securities [Member] | Net gains on debt securities [Member] | |||
Debt securities (1): | |||
Reclassification of net (gains) losses to net income, Before tax | (140) | (108) | (479) |
Reclassification of net (gains) losses to net income, Tax effect | 34 | 27 | 181 |
Reclassification of net (gains) losses to net income, Net of tax | (106) | (81) | (298) |
Equity securities [Member] | Net gains from equity securities [Member] | |||
Debt securities (1): | |||
Reclassification of net (gains) losses to net income, Before tax | 0 | 0 | (456) |
Reclassification of net (gains) losses to net income, Tax effect | 0 | 0 | 172 |
Reclassification of net (gains) losses to net income, Net of tax | 0 | 0 | (284) |
Loans [Member] | Interest income [Member] | Cash flow hedging [Member] | |||
Cash Flow Hedges: | |||
Reclassification of net (gains) losses to net income on cash flow hedges, before tax | 291 | 292 | (551) |
Reclassification of net (gains) losses to net income on cash flow hedges, tax | (72) | (72) | 208 |
Reclassification of net (gains) losses to net income on cash flow hedges, net of tax | 219 | 220 | (343) |
Accounting Standards Update 2016-01 [Member] | |||
Debt securities (1): | |||
Net unrealized gains (losses) arising during the period, Before tax | 81 | ||
Reclassification of net (gains) losses to net income, Before tax | (456) | ||
Foreign exchange contract [Member] | Fair value hedging [Member] | |||
Fair Value Hedges: | |||
Change in fair value of excluded components on fair value hedges, before tax | (3) | (254) | (253) |
Foreign exchange contract [Member] | Cash flow hedging [Member] | |||
Cash Flow Hedges: | |||
Net unrealized gains (losses) arising during the period on cash flow hedges, Before Tax | (21) | (12) | 0 |
Reclassification of net (gains) losses to net income on cash flow hedges, before tax | $ 9 | $ 3 | $ 0 |
Other Comprehensive Income, Cum
Other Comprehensive Income, Cumulative OCI Balances (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2019 | Dec. 31, 2016 | |
Cumulative OCI balances [Abstract] | |||||
Balance, beginning of period | $ 197,066 | $ 208,079 | $ 200,497 | ||
Balance, beginning of period adjusted balance | 197,055 | 208,055 | $ 200,284 | ||
Other comprehensive income (loss), net of tax | 4,544 | (3,676) | 763 | ||
Less: Other comprehensive loss from noncontrolling interests | 0 | (2) | (62) | ||
Balance, end of period | 187,984 | 197,066 | 208,079 | ||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||
Net unrealized gains (losses) arising during the period, Before tax | 5,439 | (4,493) | 2,719 | ||
Reclassification of net (gains) losses to net income, Before tax | 122 | 248 | (737) | ||
Accounting Standards Update 2017-12 [Member] | |||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||
Transition Adjustment | (213) | ||||
Accounting Standards Update 2016-01 [Member] | |||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||
Net unrealized gains (losses) arising during the period, Before tax | 81 | ||||
Reclassification of net (gains) losses to net income, Before tax | (456) | ||||
Accounting Standards Update 2017-08 [Member] | |||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||
Transition Adjustment | $ (111) | ||||
Cumulative other comprehensive income [Member] | |||||
Cumulative OCI balances [Abstract] | |||||
Balance, beginning of period | (6,336) | (2,144) | (3,137) | ||
Balance, beginning of period adjusted balance | (5,855) | (2,262) | (2,969) | ||
Reclassification of certain tax effects to retained earnings | (400) | ||||
Net unrealized gains (losses) arising during the period | 4,125 | (4,278) | 1,462 | ||
Amounts reclassified from accumulated other comprehensive income | 419 | 602 | (699) | ||
Other comprehensive income (loss), net of tax | 4,544 | (4,076) | 763 | ||
Balance, end of period | (1,311) | (6,336) | (2,144) | ||
Cumulative other comprehensive income [Member] | Accounting Standards Update 2017-12 [Member] | |||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||
Transition Adjustment | 168 | ||||
Cumulative other comprehensive income [Member] | Accounting Standards Update 2016-01 [Member] | |||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||
Transition Adjustment | (118) | ||||
Cumulative other comprehensive income [Member] | Accounting Standards Update 2017-08 [Member] | |||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||
Transition Adjustment | 481 | ||||
Debt securities, parent [Member] | |||||
Cumulative OCI balances [Abstract] | |||||
Balance, beginning of period | (3,122) | 171 | (1,099) | ||
Balance, beginning of period adjusted balance | (2,641) | 53 | (1,099) | ||
Reclassification of certain tax effects to retained earnings | 31 | ||||
Net unrealized gains (losses) arising during the period | 4,102 | (3,393) | 1,663 | ||
Amounts reclassified from accumulated other comprehensive income | 91 | 187 | (459) | ||
Other comprehensive income (loss), net of tax | 4,193 | (3,175) | 1,204 | ||
Balance, end of period | 1,552 | (3,122) | 171 | ||
Debt securities, parent [Member] | Accounting Standards Update 2017-12 [Member] | |||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||
Transition Adjustment | 0 | ||||
Debt securities, parent [Member] | Accounting Standards Update 2016-01 [Member] | |||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||
Transition Adjustment | (118) | ||||
Debt securities, parent [Member] | Accounting Standards Update 2017-08 [Member] | |||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||
Transition Adjustment | 481 | ||||
Fair value hedges, parent [Member] | |||||
Cumulative OCI balances [Abstract] | |||||
Balance, beginning of period | (178) | 11 | 0 | ||
Balance, beginning of period adjusted balance | (178) | 11 | 169 | ||
Reclassification of certain tax effects to retained earnings | 2 | ||||
Net unrealized gains (losses) arising during the period | (2) | (191) | (158) | ||
Amounts reclassified from accumulated other comprehensive income | 0 | 0 | 0 | ||
Other comprehensive income (loss), net of tax | (2) | (189) | (158) | ||
Balance, end of period | (180) | (178) | 11 | ||
Fair value hedges, parent [Member] | Accounting Standards Update 2017-12 [Member] | |||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||
Transition Adjustment | 169 | ||||
Fair value hedges, parent [Member] | Accounting Standards Update 2016-01 [Member] | |||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||
Transition Adjustment | 0 | ||||
Fair value hedges, parent [Member] | Accounting Standards Update 2017-08 [Member] | |||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||
Transition Adjustment | 0 | ||||
Cash flow hedges, parent [Member] | |||||
Cumulative OCI balances [Abstract] | |||||
Balance, beginning of period | (507) | (429) | 89 | ||
Balance, beginning of period adjusted balance | (507) | (429) | 88 | ||
Reclassification of certain tax effects to retained earnings | (89) | ||||
Net unrealized gains (losses) arising during the period | (16) | (211) | (179) | ||
Amounts reclassified from accumulated other comprehensive income | 225 | 222 | (338) | ||
Other comprehensive income (loss), net of tax | 209 | (78) | (517) | ||
Balance, end of period | (298) | (507) | (429) | ||
Cash flow hedges, parent [Member] | Accounting Standards Update 2017-12 [Member] | |||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||
Transition Adjustment | (1) | ||||
Cash flow hedges, parent [Member] | Accounting Standards Update 2016-01 [Member] | |||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||
Transition Adjustment | 0 | ||||
Cash flow hedges, parent [Member] | Accounting Standards Update 2017-08 [Member] | |||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||
Transition Adjustment | 0 | ||||
Defined benefit plans adjustments, noncontrolling interest [Member] | |||||
Cumulative OCI balances [Abstract] | |||||
Balance, beginning of period | (2,296) | (1,808) | (1,943) | ||
Balance, beginning of period adjusted balance | (2,296) | (1,808) | (1,943) | ||
Reclassification of certain tax effects to retained earnings | (353) | ||||
Net unrealized gains (losses) arising during the period | (30) | (328) | 37 | ||
Amounts reclassified from accumulated other comprehensive income | 103 | 193 | 98 | ||
Other comprehensive income (loss), net of tax | 73 | (488) | 135 | ||
Balance, end of period | (2,223) | (2,296) | (1,808) | ||
Defined benefit plans adjustments, noncontrolling interest [Member] | Accounting Standards Update 2017-12 [Member] | |||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||
Transition Adjustment | 0 | ||||
Defined benefit plans adjustments, noncontrolling interest [Member] | Accounting Standards Update 2016-01 [Member] | |||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||
Transition Adjustment | 0 | ||||
Defined benefit plans adjustments, noncontrolling interest [Member] | Accounting Standards Update 2017-08 [Member] | |||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||
Transition Adjustment | 0 | ||||
Foreign currency translation adjustments, parent [Member] | |||||
Cumulative OCI balances [Abstract] | |||||
Balance, beginning of period | (233) | (89) | (184) | ||
Balance, beginning of period adjusted balance | (233) | (89) | (184) | ||
Reclassification of certain tax effects to retained earnings | 9 | ||||
Net unrealized gains (losses) arising during the period | 71 | (155) | 99 | ||
Amounts reclassified from accumulated other comprehensive income | 0 | 0 | 0 | ||
Other comprehensive income (loss), net of tax | 71 | (146) | 99 | ||
Balance, end of period | (162) | (233) | (89) | ||
Foreign currency translation adjustments, parent [Member] | Accounting Standards Update 2017-12 [Member] | |||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||
Transition Adjustment | 0 | ||||
Foreign currency translation adjustments, parent [Member] | Accounting Standards Update 2016-01 [Member] | |||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||
Transition Adjustment | 0 | ||||
Foreign currency translation adjustments, parent [Member] | Accounting Standards Update 2017-08 [Member] | |||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||
Transition Adjustment | 0 | ||||
Noncontrolling interests [Member] | |||||
Cumulative OCI balances [Abstract] | |||||
Balance, beginning of period | 900 | 1,143 | 916 | ||
Balance, beginning of period adjusted balance | 900 | 1,143 | $ 916 | ||
Less: Other comprehensive loss from noncontrolling interests | 0 | 2 | 62 | ||
Balance, end of period | 838 | 900 | 1,143 | ||
AOCI Attributable to Noncontrolling Interest [Member] | |||||
Cumulative OCI balances [Abstract] | |||||
Less: Other comprehensive loss from noncontrolling interests | 0 | (2) | (62) | ||
Debt securities, noncontrolling interest [Member] | |||||
Cumulative OCI balances [Abstract] | |||||
Less: Other comprehensive loss from noncontrolling interests | 0 | 0 | (66) | ||
Fair value hedges, noncontrolling interest [Member] | |||||
Cumulative OCI balances [Abstract] | |||||
Less: Other comprehensive loss from noncontrolling interests | 0 | 0 | 0 | ||
Cash flow hedges, noncontrolling interest [Member] | |||||
Cumulative OCI balances [Abstract] | |||||
Less: Other comprehensive loss from noncontrolling interests | 0 | 0 | 0 | ||
Defined benefit plans adjustments, noncontrolling interest [Member] | |||||
Cumulative OCI balances [Abstract] | |||||
Less: Other comprehensive loss from noncontrolling interests | 0 | 0 | 0 | ||
Foreign currency translation adjustments, noncontrolling interest [Member] | |||||
Cumulative OCI balances [Abstract] | |||||
Less: Other comprehensive loss from noncontrolling interests | $ 0 | $ (2) | $ 4 |
Operating Segments (Details)
Operating Segments (Details) $ in Millions | Feb. 11, 2020 | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) |
Segment Reporting Information [Line Items] | ||||||
Number of reportable operating segments | 3 | |||||
Revenue | $ 85,063 | $ 86,408 | $ 88,389 | |||
Financial Information of Operating Segment [Abstract] | ||||||
Net interest income | 47,231 | 49,995 | 49,557 | |||
Provision (reversal of provision) for credit losses | 2,687 | 1,744 | 2,528 | $ 3,770 | $ 2,442 | |
Noninterest income | 37,832 | 36,413 | 38,832 | |||
Noninterest expense | 58,178 | 56,126 | 58,484 | |||
Income before income tax expense | 24,198 | 28,538 | 27,377 | |||
Income tax expense (benefit) | 4,157 | 5,662 | 4,917 | |||
Net income before noncontrolling interests | 20,041 | 22,876 | 22,460 | |||
Less: Net income (loss) from noncontrolling interests | 492 | 483 | 277 | |||
Wells Fargo net income | 19,549 | 22,393 | 22,183 | |||
Average loans | 951,000 | 945,200 | ||||
Average assets | 1,913,400 | 1,888,900 | ||||
Average deposits | 1,286,300 | 1,275,900 | ||||
Community Banking [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Revenue | 45,316 | 46,913 | 47,018 | |||
Financial Information of Operating Segment [Abstract] | ||||||
Net interest income | 27,610 | 29,219 | 28,658 | |||
Provision (reversal of provision) for credit losses | 2,319 | 1,783 | 2,555 | |||
Noninterest income | 17,706 | 17,694 | 18,360 | |||
Noninterest expense | 32,696 | 30,491 | 32,615 | |||
Income before income tax expense | 10,301 | 14,639 | 11,848 | |||
Income tax expense (benefit) | 2,426 | 3,784 | 634 | |||
Net income before noncontrolling interests | 7,875 | 10,855 | 11,214 | |||
Less: Net income (loss) from noncontrolling interests | 477 | 461 | 276 | |||
Wells Fargo net income | 7,398 | 10,394 | 10,938 | |||
Average loans | 459,400 | 463,700 | ||||
Average assets | 1,028,400 | 1,034,100 | ||||
Average deposits | 782,000 | 757,200 | ||||
Wholesale Banking [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Revenue | 27,677 | 28,706 | 30,000 | |||
Affordable housing and renewable energy tax credits, amount | 1,800 | 1,600 | 1,400 | |||
Financial Information of Operating Segment [Abstract] | ||||||
Net interest income | 17,699 | 18,690 | 18,810 | |||
Provision (reversal of provision) for credit losses | 378 | (58) | (19) | |||
Noninterest income | 9,978 | 10,016 | 11,190 | |||
Noninterest expense | 15,352 | 16,157 | 16,624 | |||
Income before income tax expense | 11,947 | 12,607 | 13,395 | |||
Income tax expense (benefit) | 1,246 | 1,555 | 3,496 | |||
Net income before noncontrolling interests | 10,701 | 11,052 | 9,899 | |||
Less: Net income (loss) from noncontrolling interests | 5 | 20 | (15) | |||
Wells Fargo net income | 10,696 | 11,032 | 9,914 | |||
Average loans | 475,300 | 465,700 | ||||
Average assets | 861,000 | 830,500 | ||||
Average deposits | 422,500 | 423,700 | ||||
Wealth and Investment Management [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Revenue | 17,341 | 16,376 | 17,072 | |||
Financial Information of Operating Segment [Abstract] | ||||||
Net interest income | 4,037 | 4,441 | 4,641 | |||
Provision (reversal of provision) for credit losses | 5 | (5) | (5) | |||
Noninterest income | 13,304 | 11,935 | 12,431 | |||
Noninterest expense | 13,709 | 12,938 | 12,623 | |||
Income before income tax expense | 3,627 | 3,443 | 4,454 | |||
Income tax expense (benefit) | 904 | 861 | 1,668 | |||
Net income before noncontrolling interests | 2,723 | 2,582 | 2,786 | |||
Less: Net income (loss) from noncontrolling interests | 10 | 2 | 16 | |||
Wells Fargo net income | 2,713 | 2,580 | 2,770 | |||
Average loans | 75,600 | 74,600 | ||||
Average assets | 84,300 | 83,900 | ||||
Average deposits | 146,000 | 165,000 | ||||
Other [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Revenue | (5,271) | (5,587) | (5,701) | |||
Financial Information of Operating Segment [Abstract] | ||||||
Net interest income | (2,115) | (2,355) | (2,552) | |||
Provision (reversal of provision) for credit losses | (15) | 24 | (3) | |||
Noninterest income | (3,156) | (3,232) | (3,149) | |||
Noninterest expense | (3,579) | (3,460) | (3,378) | |||
Income before income tax expense | (1,677) | (2,151) | (2,320) | |||
Income tax expense (benefit) | (419) | (538) | (881) | |||
Net income before noncontrolling interests | (1,258) | (1,613) | (1,439) | |||
Less: Net income (loss) from noncontrolling interests | 0 | 0 | 0 | |||
Wells Fargo net income | (1,258) | (1,613) | $ (1,439) | |||
Average loans | (59,300) | (58,800) | ||||
Average assets | (60,300) | (59,600) | ||||
Average deposits | (64,200) | $ (70,000) | ||||
Maximum [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Community Banking [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Revenue | 5 | |||||
Minimum [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Wholesale Banking [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Revenue | $ 5 | |||||
Subsequent Event [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Number of reportable operating segments | 5 |
Parent-Only Financial Stateme_3
Parent-Only Financial Statements, Statement of Income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income | |||
Other | $ 3,181 | $ 2,473 | $ 1,603 |
Total income | 85,063 | 86,408 | 88,389 |
Interest expense | |||
Short-term borrowings | 2,316 | 1,717 | 758 |
Long-term debt | 7,350 | 6,703 | 5,157 |
Other | 551 | 610 | 424 |
Noninterest expense | 58,178 | 56,126 | 58,484 |
Income before income tax benefit and equity in undistributed income of subsidiaries | 24,198 | 28,538 | 27,377 |
Income tax benefit | 4,157 | 5,662 | 4,917 |
Wells Fargo net income | 19,549 | 22,393 | 22,183 |
Parent Company [Member] | |||
Income | |||
Dividends from subsidiaries (1) | 21,930 | 22,427 | 20,746 |
Interest income from subsidiaries | 3,356 | 3,298 | 1,984 |
Other interest income | 43 | 49 | 146 |
Other | (162) | (424) | 1,238 |
Total income | 25,167 | 25,350 | 24,114 |
Interest expense | |||
Indebtedness to nonbank subsidiaries | 664 | 644 | 189 |
Short-term borrowings | 0 | 2 | 0 |
Long-term debt | 4,931 | 4,541 | 3,595 |
Other | 2 | 3 | 5 |
Noninterest expense | 1,327 | 286 | 1,888 |
Total expense | 6,924 | 5,476 | 5,677 |
Income before income tax benefit and equity in undistributed income of subsidiaries | 18,243 | 19,874 | 18,437 |
Income tax benefit | (945) | (544) | (319) |
Equity in undistributed income of subsidiaries | 361 | 1,975 | 3,427 |
Wells Fargo net income | 19,549 | 22,393 | 22,183 |
Parent Company [Member] | Bank [Member] | |||
Income | |||
Dividends from subsidiaries (1) | $ 21,800 | $ 20,800 | $ 17,900 |
Parent-Only Financial Stateme_4
Parent-Only Financial Statements, Statement of Comprehensive Income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Parent-Only Statement of Comprehensive Income [Abstract] | |||
Net income | $ 19,549 | $ 22,393 | $ 22,183 |
Other comprehensive income (loss), net of tax: | |||
Debt securities (1) | 4,193 | (3,206) | 1,204 |
Defined benefit plans adjustment | 73 | (135) | 135 |
Wells Fargo other comprehensive income (loss), net of tax | 4,544 | (3,674) | 825 |
Wells Fargo comprehensive income | 24,093 | 18,719 | 23,008 |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||
Net unrealized gains (losses) arising during the period, Net of tax | 4,102 | (3,393) | 1,663 |
Reclassification of net (gains) losses to net income, Net of tax | 91 | 187 | (459) |
Parent Company [Member] | |||
Parent-Only Statement of Comprehensive Income [Abstract] | |||
Net income | 19,549 | 22,393 | 22,183 |
Other comprehensive income (loss), net of tax: | |||
Debt securities (1) | (45) | (12) | 94 |
Derivatives and hedging activities | (12) | (198) | (158) |
Defined benefit plans adjustment | 75 | (132) | 118 |
Equity in other comprehensive income (loss) of subsidiaries | 4,526 | (3,332) | 771 |
Wells Fargo other comprehensive income (loss), net of tax | 4,544 | (3,674) | 825 |
Wells Fargo comprehensive income | $ 24,093 | $ 18,719 | 23,008 |
Parent Company [Member] | Accounting Standards Update 2016-01 [Member] | |||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||
Net unrealized gains (losses) arising during the period, Net of tax | 3 | ||
Reclassification of net (gains) losses to net income, Net of tax | $ (21) |
Parent-Only Financial Stateme_5
Parent-Only Financial Statements, Balance Sheet (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Assets | ||||
Cash, cash equivalents, and restricted cash | $ 141,250 | $ 173,287 | $ 215,947 | $ 221,400 |
Trading, at fair value | 79,733 | 69,989 | ||
Available-for-sale, at fair value | 263,459 | 269,912 | ||
Equity securities | 68,241 | 55,148 | ||
Other assets | 78,917 | 79,850 | ||
Total assets | 1,927,555 | 1,895,883 | ||
Liabilities and equity | ||||
Short-term borrowings | 104,512 | 105,787 | 103,256 | |
Accrued expenses and other liabilities | 75,163 | 69,317 | ||
Long-term debt | 228,191 | 229,044 | ||
Total liabilities | 1,739,571 | 1,698,817 | ||
Stockholders’ equity | 187,146 | 196,166 | ||
Total liabilities and equity | 1,927,555 | 1,895,883 | ||
Parent Company [Member] | ||||
Assets | ||||
Cash, cash equivalents, and restricted cash | 14,949 | 16,301 | $ 23,181 | $ 36,660 |
Available-for-sale, at fair value | 1 | 1 | ||
Investments in subsidiaries | 208,076 | 202,695 | ||
Equity securities | 1,007 | 2,164 | ||
Other assets | 4,608 | 4,639 | ||
Total assets | 374,024 | 364,963 | ||
Liabilities and equity | ||||
Accrued expenses and other liabilities | 8,050 | 6,986 | ||
Long-term debt | 152,628 | 135,079 | ||
Indebtedness to nonbank subsidiaries | 26,200 | 26,732 | ||
Total liabilities | 186,878 | 168,797 | ||
Stockholders’ equity | 187,146 | 196,166 | ||
Total liabilities and equity | 374,024 | 364,963 | ||
Parent Company [Member] | Bank [Member] | ||||
Assets | ||||
Investments in subsidiaries | 170,400 | 167,600 | ||
Parent Company [Member] | Nonbank [Member] | ||||
Assets | ||||
Loans to nonbank subsidiaries | 145,383 | 139,163 | ||
Parent Company [Member] | Subsidiary Banks [Member] | ||||
Assets | ||||
Cash, cash equivalents, and restricted cash | 14,948 | 16,301 | ||
Parent Company [Member] | Nonaffiliates [Member] | ||||
Assets | ||||
Cash, cash equivalents, and restricted cash | $ 1 | $ 0 |
Parent-Only Financial Stateme_6
Parent-Only Financial Statements, Statement of Cash Flows (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows from operating activities: | |||
Net cash provided by operating activities | $ 6,730 | $ 36,073 | $ 18,619 |
Available-for-sale debt securities: | |||
Proceeds from sales | 9,386 | 7,320 | 42,067 |
Prepayments and maturities | 46,542 | 36,725 | 45,688 |
Purchases | (57,015) | (60,067) | (103,656) |
Equity securities, not held for trading: | |||
Proceeds from sales and capital returns | 6,143 | 6,242 | 5,451 |
Purchases | (6,865) | (6,433) | (3,735) |
Loans: | |||
Other, net | 1,465 | (779) | (1,029) |
Net cash provided (used) by investing activities | (29,631) | (7,754) | (13,152) |
Cash flows from financing activities: | |||
Net increase (decrease) in short-term borrowings and indebtedness to subsidiaries | (1,275) | 2,531 | 14,020 |
Long-term debt: | |||
Proceeds from issuance | 53,381 | 47,595 | 43,575 |
Repayment | (60,996) | (40,565) | (80,802) |
Preferred stock: | |||
Proceeds from issuance | 0 | 0 | 677 |
Redeemed | (1,550) | (2,150) | 0 |
Cash dividends paid | (1,391) | (1,622) | (1,629) |
Common stock: | |||
Proceeds from issuance | 380 | 632 | 1,211 |
Stock tendered for payment of withholding taxes | (302) | (331) | (393) |
Repurchased | (24,533) | (20,633) | (9,908) |
Cash dividends paid | (8,198) | (7,692) | (7,480) |
Other, net | (276) | (248) | (133) |
Net cash used by financing activities | (9,136) | (70,979) | (10,920) |
Net change in cash, cash equivalents, and restricted cash | (32,037) | (42,660) | (5,453) |
Cash, cash equivalents, and restricted cash at beginning of year | 173,287 | 215,947 | 221,400 |
Cash, cash equivalents, and restricted cash at end of year | 141,250 | 173,287 | 215,947 |
Parent Company [Member] | |||
Cash flows from operating activities: | |||
Net cash provided by operating activities | 27,601 | 19,024 | 22,233 |
Equity securities, not held for trading: | |||
Proceeds from sales and capital returns | 326 | 355 | 743 |
Purchases | (1,052) | (220) | (215) |
Loans: | |||
Net advances to subsidiaries | (3) | (7) | (35,876) |
Capital notes and term loans made to subsidiaries | (5,286) | (2,441) | (73,729) |
Principal collected on notes/loans made to subsidiaries | 1,703 | 756 | 69,286 |
Net decrease (increase) in investment in subsidiaries | (384) | 2,407 | (2,029) |
Other, net | 22 | 109 | 113 |
Net cash provided (used) by investing activities | (4,674) | 959 | (17,875) |
Cash flows from financing activities: | |||
Net increase (decrease) in short-term borrowings and indebtedness to subsidiaries | (636) | 12,467 | (8,685) |
Long-term debt: | |||
Proceeds from issuance | 20,369 | 1,876 | 22,217 |
Repayment | (8,143) | (9,162) | (13,709) |
Preferred stock: | |||
Proceeds from issuance | 0 | 0 | 677 |
Redeemed | (1,550) | (2,150) | 0 |
Cash dividends paid | (1,391) | (1,622) | (1,629) |
Common stock: | |||
Proceeds from issuance | 380 | 632 | 1,211 |
Stock tendered for payment of withholding taxes | (302) | (331) | (393) |
Repurchased | (24,533) | (20,633) | (9,908) |
Cash dividends paid | (8,198) | (7,692) | (7,480) |
Other, net | (275) | (248) | (138) |
Net cash used by financing activities | (24,279) | (26,863) | (17,837) |
Net change in cash, cash equivalents, and restricted cash | (1,352) | (6,880) | (13,479) |
Cash, cash equivalents, and restricted cash at beginning of year | 16,301 | 23,181 | 36,660 |
Cash, cash equivalents, and restricted cash at end of year | 14,949 | 16,301 | 23,181 |
Parent Company [Member] | Subsidiary Banks [Member] | |||
Available-for-sale debt securities: | |||
Proceeds from sales | 0 | 0 | 8,658 |
Prepayments and maturities | 0 | 0 | 10,250 |
Purchases | 0 | 0 | (3,900) |
Common stock: | |||
Cash, cash equivalents, and restricted cash at beginning of year | 16,301 | ||
Cash, cash equivalents, and restricted cash at end of year | 14,948 | 16,301 | |
Parent Company [Member] | Nonaffiliates [Member] | |||
Available-for-sale debt securities: | |||
Proceeds from sales | 0 | 0 | $ 8,824 |
Common stock: | |||
Cash, cash equivalents, and restricted cash at beginning of year | 0 | ||
Cash, cash equivalents, and restricted cash at end of year | $ 1 | $ 0 |
Regulatory and Agency Capital_3
Regulatory and Agency Capital Requirements (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Wells Fargo & Company [Member] | ||
Supplementary leverage: | ||
Total leverage exposure | $ 2,247,729 | $ 2,174,564 |
Supplementary leverage ratio | 7.07% | 7.72% |
Wells Fargo & Company [Member] | Advanced Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common equity tier 1 | $ 138,760 | $ 146,363 |
Tier 1 | 158,949 | 167,866 |
Total | 188,333 | 198,798 |
Assets: | ||
Risk-weighted assets | 1,230,066 | 1,177,350 |
Adjusted average assets (1) | $ 1,913,297 | $ 1,850,299 |
Regulatory capital ratios: | ||
Common equity tier 1 capital | 11.28% | 12.43% |
Tier 1 capital | 12.92% | 14.26% |
Total capital | 15.31% | 16.89% |
Tier 1 leverage (1) | 8.31% | 9.07% |
Wells Fargo & Company [Member] | Standardized Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common equity tier 1 | $ 138,760 | $ 146,363 |
Tier 1 | 158,949 | 167,866 |
Total | 196,223 | 207,041 |
Assets: | ||
Risk-weighted assets | 1,245,853 | 1,247,210 |
Adjusted average assets (1) | $ 1,913,297 | $ 1,850,299 |
Regulatory capital ratios: | ||
Common equity tier 1 capital | 11.14% | 11.74% |
Tier 1 capital | 12.76% | 13.46% |
Total capital | 15.75% | 16.60% |
Tier 1 leverage (1) | 8.31% | 9.07% |
Wells Fargo Bank, NA [Member] | ||
Supplementary leverage: | ||
Total leverage exposure | $ 2,006,180 | $ 1,957,276 |
Supplementary leverage ratio | 7.24% | 7.29% |
Wells Fargo Bank, NA [Member] | Advanced Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common equity tier 1 | $ 145,149 | $ 142,685 |
Tier 1 | 145,149 | 142,685 |
Total | 158,615 | 155,558 |
Assets: | ||
Risk-weighted assets | 1,110,379 | 1,058,653 |
Adjusted average assets (1) | $ 1,695,807 | $ 1,652,009 |
Regulatory capital ratios: | ||
Common equity tier 1 capital | 13.07% | 13.48% |
Tier 1 capital | 13.07% | 13.48% |
Total capital | 14.28% | 14.69% |
Tier 1 leverage (1) | 8.56% | 8.64% |
Wells Fargo Bank, NA [Member] | Standardized Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common equity tier 1 | $ 145,149 | $ 142,685 |
Tier 1 | 145,149 | 142,685 |
Total | 166,056 | 163,380 |
Assets: | ||
Risk-weighted assets | 1,152,791 | 1,154,182 |
Adjusted average assets (1) | $ 1,695,807 | $ 1,652,009 |
Regulatory capital ratios: | ||
Common equity tier 1 capital | 12.59% | 12.36% |
Tier 1 capital | 12.59% | 12.36% |
Total capital | 14.40% | 14.16% |
Tier 1 leverage (1) | 8.56% | 8.64% |
Regulatory and Agency Capital_4
Regulatory and Agency Capital Requirements Minimum Required Regulatory Capital Ratios – Transition Requirements (Details) | Dec. 31, 2019 | Dec. 31, 2018 |
Wells Fargo & Company [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Common equity tier 1 capital | 9.00% | 7.875% |
Tier 1 capital | 10.50% | 9.375% |
Total capital | 12.50% | 11.375% |
Tier 1 leverage | 4.00% | 4.00% |
Supplementary leverage (2) | 5.00% | 5.00% |
Capital Conservation Buffer Minimum | 0.02500 | |
GSIB Surcharge | 0.02000 | |
Supplementary Leverage Ratio, Capital Adequacy, Minimum | 0.03000 | |
Supplementary Leverage Buffer, Minimum | 0.02000 | |
Wells Fargo Bank, NA [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Common equity tier 1 capital | 7.00% | 6.375% |
Tier 1 capital | 8.50% | 7.875% |
Total capital | 10.50% | 9.875% |
Tier 1 leverage | 4.00% | 4.00% |
Supplementary leverage (2) | 6.00% | 6.00% |
Capital Conservation Buffer Minimum | 0.02500 |