Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2022 | Jul. 21, 2022 | |
Entity Information [Line Items] | ||
Entity Registrant Name | WELLS FARGO & COMPANY/MN | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jun. 30, 2022 | |
Entity File Number | 001-2979 | |
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 | |
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 Common Stock, Shares Outstanding | 3,793,049,509 | |
Entity Central Index Key | 0000072971 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q2 | |
Current Fiscal Year End Date | --12-31 | |
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 [Member] | ||
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 int. in a share of 5.85% Fixed-to-Floating Rate Non-Cum. 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 int. in a share of 6.625% Fixed-to-Floating Rate Non-Cum. 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 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 | |
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series AA | ||
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 AA | |
Trading Symbol | WFC.PRA | |
Security Exchange Name | NYSE | |
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series CC | ||
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 CC | |
Trading Symbol | WFC.PRC | |
Security Exchange Name | NYSE | |
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series DD | ||
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 DD | |
Trading Symbol | WFC.PRD | |
Security Exchange Name | NYSE | |
Guarantee of Medium-Term Notes, Series A, due October 30, 2028 of Wells Fargo Finance LLC [Member] | ||
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 | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Interest income | ||||
Debt securities | $ 2,702 | $ 2,199 | $ 5,265 | $ 4,511 |
Loans held for sale | 126 | 193 | 266 | 524 |
Loans | 8,116 | 7,095 | 15,334 | 14,296 |
Equity securities | 193 | 132 | 363 | 269 |
Other interest income | 419 | 74 | 509 | 139 |
Total interest income | 11,556 | 9,693 | 21,737 | 19,739 |
Interest expense | ||||
Deposits | 158 | 92 | 241 | 204 |
Short-term borrowings | 31 | (12) | 17 | (21) |
Long-term debt | 1,011 | 712 | 1,772 | 1,738 |
Other interest expense | 158 | 101 | 288 | 210 |
Total interest expense | 1,358 | 893 | 2,318 | 2,131 |
Net interest income | 10,198 | 8,800 | 19,419 | 17,608 |
Noninterest income | ||||
Deposit and lending-related fees | 1,729 | 1,704 | 3,544 | 3,320 |
Card fees | 1,112 | 1,077 | 2,141 | 2,026 |
Mortgage banking | 287 | 1,336 | 980 | 2,662 |
Net gains (losses) from trading and securities | (26) | 2,717 | 770 | 3,608 |
Other | 554 | 692 | 1,110 | 1,674 |
Total noninterest income | 6,830 | 11,470 | 15,201 | 21,194 |
Total revenue | 17,028 | 20,270 | 34,620 | 38,802 |
Provision for credit losses | 580 | (1,260) | (207) | (2,308) |
Noninterest expense | ||||
Personnel | 8,442 | 8,818 | 17,713 | 18,376 |
Technology, telecommunications and equipment | 799 | 815 | 1,675 | 1,659 |
Occupancy | 705 | 735 | 1,427 | 1,505 |
Operating losses | 576 | 303 | 1,249 | 516 |
Professional and outside services | 1,310 | 1,450 | 2,596 | 2,838 |
Advertising and promotion | 102 | 132 | 201 | 222 |
Restructuring charges | 0 | (4) | 5 | 9 |
Other | 949 | 1,092 | 1,887 | 2,205 |
Total noninterest expense | 12,883 | 13,341 | 26,753 | 27,330 |
Income before income tax expense | 3,565 | 8,189 | 8,074 | 13,780 |
Income tax expense | 613 | 1,445 | 1,320 | 2,346 |
Net income before noncontrolling interests | 2,952 | 6,744 | 6,754 | 11,434 |
Less: Net income (loss) from noncontrolling interests | (167) | 704 | (36) | 758 |
Wells Fargo net income | 3,119 | 6,040 | 6,790 | 10,676 |
Less: Preferred stock dividends and other | 280 | 297 | 558 | 677 |
Wells Fargo net income applicable to common stock | $ 2,839 | $ 5,743 | $ 6,232 | $ 9,999 |
Per share information | ||||
Earnings per common share (in dollars per share) | $ 0.75 | $ 1.39 | $ 1.63 | $ 2.42 |
Diluted earnings per common share (in dollars per share) | $ 0.74 | $ 1.38 | $ 1.62 | $ 2.40 |
Average common shares outstanding (in shares) | 3,793.8 | 4,124.6 | 3,812.3 | 4,132.9 |
Diluted average common shares outstanding (in shares) | 3,819.6 | 4,156.1 | 3,845 | 4,164.6 |
Investment advisory and other asset-based fees [Member] | ||||
Noninterest income | ||||
Fee income | $ 2,346 | $ 2,794 | $ 4,844 | $ 5,550 |
Commissions and brokerage services fees [Member] | ||||
Noninterest income | ||||
Fee income | 542 | 580 | 1,079 | 1,216 |
Investment banking fees [Member] | ||||
Noninterest income | ||||
Fee income | $ 286 | $ 570 | $ 733 | $ 1,138 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Supplemental Income Statement Elements [Abstract] | ||||
Net income before noncontrolling interests | $ 2,952 | $ 6,744 | $ 6,754 | $ 11,434 |
Other comprehensive income (loss), net of tax: | ||||
Net change in debt securities | (3,620) | 304 | (8,768) | (1,221) |
Net change in derivatives and hedging activities | (83) | 27 | (63) | 63 |
Defined benefit plans adjustments | (22) | 334 | 50 | 369 |
Other | (116) | 22 | (125) | 33 |
Other comprehensive income (loss), after tax | (3,841) | 687 | (8,906) | (756) |
Total comprehensive income (loss) before noncontrolling interests | (889) | 7,431 | (2,152) | 10,678 |
Less: Other comprehensive income from noncontrolling interests | 0 | 1 | 0 | 2 |
Less: Net income (loss) from noncontrolling interests | (167) | 704 | (36) | 758 |
Wells Fargo comprehensive income (loss) | $ (722) | $ 6,726 | $ (2,116) | $ 9,918 |
Consolidated Balance Sheet
Consolidated Balance Sheet - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 | |
Assets | |||
Cash and due from banks | $ 29,716 | $ 24,616 | |
Interest-earning deposits with banks | 125,424 | 209,614 | |
Total cash, cash equivalents, and restricted cash | 155,140 | 234,230 | |
Federal funds sold and securities purchased under resale agreements | 55,546 | 66,223 | |
Trading, at fair value | 89,157 | 88,265 | |
Available-for-sale, at fair value | 125,832 | 177,244 | |
Held-to-maturity, at amortized cost, net of allowance for credit losses | 301,783 | 272,022 | |
Loans held for sale | 9,674 | 23,617 | |
Loans | 943,734 | 895,394 | |
Allowance for loan losses | (11,786) | (12,490) | |
Net loans | 931,948 | 882,904 | |
Mortgage servicing rights | 10,386 | 8,189 | |
Premises and equipment, net | 8,444 | 8,571 | |
Goodwill | 25,178 | 25,180 | |
Derivative assets | 24,896 | 21,478 | |
Equity securities | 61,774 | 72,886 | |
Other assets | 81,384 | 67,259 | |
Total assets | [1] | 1,881,142 | 1,948,068 |
Liabilities | |||
Noninterest-bearing deposits | 515,437 | 527,748 | |
Interest-bearing deposits | 909,716 | 954,731 | |
Total deposits | 1,425,153 | 1,482,479 | |
Short-term borrowings | 37,075 | 34,409 | |
Derivative liabilities | 17,168 | 9,424 | |
Accrued expenses and other liabilities | 71,662 | 70,957 | |
Long-term debt | 150,291 | 160,689 | |
Total liabilities | [2] | 1,701,349 | 1,757,958 |
Wells Fargo stockholders’ equity: | |||
Preferred stock | 20,057 | 20,057 | |
Common stock | 9,136 | 9,136 | |
Additional paid-in capital | 60,024 | 60,196 | |
Retained earnings | 184,475 | 180,322 | |
Accumulated other comprehensive income (loss) | (10,608) | (1,702) | |
Treasury stock | (84,906) | (79,757) | |
Unearned ESOP shares | (646) | (646) | |
Total Wells Fargo stockholders’ equity | 177,532 | 187,606 | |
Noncontrolling interests | 2,261 | 2,504 | |
Total equity | 179,793 | 190,110 | |
Total liabilities and equity | $ 1,881,142 | $ 1,948,068 | |
[1]Our consolidated assets at June 30, 2022 and December 31, 2021, included the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Debt securities, $71 million and $71 million; Loans, $4.5 billion and $4.5 billion; All other assets, $167 million and $234 million; and Total assets, $4.7 billion and $4.8 billion, respectively.[2]Our consolidated liabilities at June 30, 2022 and December 31, 2021, include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Long-term debt, $0 and $149 million; All other liabilities, $241 million and $259 million; and Total liabilities, $241 million and $408 million, respectively. |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 | |
Assets [Abstract] | |||
Available-for-sale, at amortized cost, net of allowance for credit losses | $ 131,991 | $ 175,463 | |
Held-to-maturity, at fair value | 272,044 | 272,386 | |
Equity securities, carried at fair value | 27,653 | 39,098 | |
Loans | 943,734 | 895,394 | |
Assets | [1] | 1,881,142 | 1,948,068 |
Liabilities | |||
Accrued expenses and other liabilities, carried at fair value | 22,116 | 20,685 | |
Long-term debt | 150,291 | 160,689 | |
Liabilities | [2] | $ 1,701,349 | $ 1,757,958 |
Wells Fargo stockholders’ equity: | |||
Common stock, par value (in dollars per share) | $ 1.6666 | $ 1.6666 | |
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 | 1,688,846,993 | 1,596,009,977 | |
Residential mortgage servicing rights [Member] | |||
Assets [Abstract] | |||
Mortgage servicing rights, carried at fair value | $ 9,163 | $ 6,920 | |
Fair value option election [Member] | |||
Assets [Abstract] | |||
Loans held for sale, carried at fair value | 5,699 | 15,895 | |
Liabilities | |||
Short-term borrowings, carried at fair value | 165 | 0 | |
Long-term debt, carried at fair value | 353 | 0 | |
Carrying value [Member] | |||
Liabilities | |||
Long-term debt | 149,913 | 160,660 | |
VIEs that we consolidate [Member] | |||
Assets [Abstract] | |||
Assets | 7,071 | 7,529 | |
VIEs that we consolidate [Member] | Carrying value [Member] | |||
Assets [Abstract] | |||
Debt securities | 71 | 71 | |
Loans | 4,471 | 4,476 | |
All other assets | 167 | 234 | |
Assets | 4,709 | 4,781 | |
Liabilities | |||
Long-term debt | 0 | 149 | |
All other liabilities | 241 | 259 | |
VIEs that we consolidate [Member] | Carrying value [Member] | Nonrecourse [Member] | |||
Liabilities | |||
Long-term debt | 0 | 149 | |
All other liabilities | 241 | 259 | |
Liabilities | $ 241 | $ 408 | |
[1]Our consolidated assets at June 30, 2022 and December 31, 2021, included the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Debt securities, $71 million and $71 million; Loans, $4.5 billion and $4.5 billion; All other assets, $167 million and $234 million; and Total assets, $4.7 billion and $4.8 billion, respectively.[2]Our consolidated liabilities at June 30, 2022 and December 31, 2021, include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Long-term debt, $0 and $149 million; All other liabilities, $241 million and $259 million; and Total liabilities, $241 million and $408 million, respectively. |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - USD ($) shares in Millions, $ in Millions | Total | Total Wells Fargo stockholders' equity [Member] | Preferred stock [Member] | Common stock [Member] | Additional paid-in capital [Member] | Retained earnings [Member] | Accumulative other comprehensive income (loss) [Member] | Treasury stock [Member] | Unearned ESOP shares [Member] | Noncontrolling interests [Member] | |
Balance, beginning of period at Dec. 31, 2020 | $ 185,712 | $ 21,136 | $ 9,136 | $ 60,197 | $ 162,683 | $ 194 | $ (67,791) | $ (875) | $ 1,032 | ||
Beginning balance, shares at Dec. 31, 2020 | 5.5 | 4,144 | |||||||||
Stockholders' Equity Period Increase (Decrease) | |||||||||||
Net income | 11,434 | 10,676 | 758 | ||||||||
Other comprehensive loss, net of tax | (756) | $ (758) | (758) | 2 | |||||||
Noncontrolling interests | 73 | 73 | |||||||||
Common stock issued | 819 | (81) | 900 | ||||||||
Common stock issued, shares | 16.5 | ||||||||||
Common stock repurchased | (2,161) | (2,161) | |||||||||
Common stock repurchased, shares | (52.5) | ||||||||||
Preferred stock issued | 4,529 | $ 4,560 | (31) | ||||||||
Preferred stock issued, shares | 0.2 | ||||||||||
Preferred stock redeemed | [1] | (4,876) | $ (4,876) | 48 | (48) | ||||||
Preferred stock redeemed, shares | [1] | (0.1) | |||||||||
Common stock dividends | (826) | 10 | (836) | ||||||||
Preferred stock dividends | (629) | (629) | |||||||||
Stock-based compensation | 724 | 724 | |||||||||
Net change in deferred compensation and related plans | (916) | (930) | 14 | ||||||||
Net change | 7,415 | $ (316) | $ 0 | (179) | 9,082 | (758) | (1,247) | 0 | 833 | ||
Net change, shares | 0.1 | (36) | |||||||||
Balance, end of period at Jun. 30, 2021 | 193,127 | $ 20,820 | $ 9,136 | 60,018 | 171,765 | (564) | (69,038) | (875) | 1,865 | ||
Ending balance, shares at Jun. 30, 2021 | 5.6 | 4,108 | |||||||||
Balance, beginning of period at Mar. 31, 2021 | 188,034 | $ 21,170 | $ 9,136 | 59,854 | 166,458 | (1,250) | (67,589) | (875) | 1,130 | ||
Beginning balance, shares at Mar. 31, 2021 | 5.6 | 4,141.1 | |||||||||
Stockholders' Equity Period Increase (Decrease) | |||||||||||
Net income | 6,744 | 6,040 | 704 | ||||||||
Other comprehensive loss, net of tax | 687 | 686 | 686 | 1 | |||||||
Noncontrolling interests | 30 | 30 | |||||||||
Common stock issued | 95 | (20) | 115 | ||||||||
Common stock issued, shares | 2.2 | ||||||||||
Common stock repurchased | (1,565) | (1,565) | |||||||||
Common stock repurchased, shares | (35.3) | ||||||||||
Preferred stock redeemed | [2] | (350) | $ (350) | 4 | (4) | ||||||
Preferred stock redeemed, shares | [2] | 0 | |||||||||
Common stock dividends | (412) | 4 | (416) | ||||||||
Preferred stock dividends | (293) | (293) | |||||||||
Stock-based compensation | 226 | 226 | |||||||||
Net change in deferred compensation and related plans | (69) | (70) | 1 | ||||||||
Net change | 5,093 | $ (350) | $ 0 | 164 | 5,307 | 686 | (1,449) | 0 | 735 | ||
Net change, shares | 0 | (33.1) | |||||||||
Balance, end of period at Jun. 30, 2021 | 193,127 | $ 20,820 | $ 9,136 | 60,018 | 171,765 | (564) | (69,038) | (875) | 1,865 | ||
Ending balance, shares at Jun. 30, 2021 | 5.6 | 4,108 | |||||||||
Balance, beginning of period at Dec. 31, 2021 | 190,110 | $ 20,057 | $ 9,136 | 60,196 | 180,322 | (1,702) | (79,757) | (646) | 2,504 | ||
Beginning balance, shares at Dec. 31, 2021 | 5.3 | 3,885.8 | |||||||||
Stockholders' Equity Period Increase (Decrease) | |||||||||||
Net income | 6,754 | 6,790 | (36) | ||||||||
Other comprehensive loss, net of tax | (8,906) | (8,906) | (8,906) | 0 | |||||||
Noncontrolling interests | (207) | (207) | |||||||||
Common stock issued | 716 | (143) | 859 | ||||||||
Common stock issued, shares | 17.4 | ||||||||||
Common stock repurchased | (6,022) | (6,022) | |||||||||
Common stock repurchased, shares | (110.2) | ||||||||||
Preferred stock issued | 0 | $ 0 | 0 | ||||||||
Preferred stock issued, shares | 0 | ||||||||||
Preferred stock redeemed | 0 | $ 0 | 0 | 0 | |||||||
Preferred stock redeemed, shares | 0 | ||||||||||
Common stock dividends | (1,907) | 29 | (1,936) | ||||||||
Preferred stock dividends | (558) | (558) | |||||||||
Stock-based compensation | 646 | 646 | |||||||||
Net change in deferred compensation and related plans | (833) | (847) | 14 | ||||||||
Net change | (10,317) | $ 0 | $ 0 | (172) | 4,153 | (8,906) | (5,149) | 0 | (243) | ||
Net change, shares | 0 | (92.8) | |||||||||
Balance, end of period at Jun. 30, 2022 | 179,793 | $ 20,057 | $ 9,136 | 60,024 | 184,475 | (10,608) | (84,906) | (646) | 2,261 | ||
Ending balance, shares at Jun. 30, 2022 | 5.3 | 3,793 | |||||||||
Balance, beginning of period at Mar. 31, 2022 | 181,689 | $ 20,057 | $ 9,136 | 59,899 | 182,623 | (6,767) | (85,059) | (646) | 2,446 | ||
Beginning balance, shares at Mar. 31, 2022 | 5.3 | 3,789.9 | |||||||||
Stockholders' Equity Period Increase (Decrease) | |||||||||||
Net income | 2,952 | 3,119 | (167) | ||||||||
Other comprehensive loss, net of tax | (3,841) | $ (3,841) | (3,841) | 0 | |||||||
Noncontrolling interests | (18) | (18) | |||||||||
Common stock issued | 136 | (26) | 162 | ||||||||
Common stock issued, shares | 3.2 | ||||||||||
Common stock repurchased | (4) | (4) | |||||||||
Common stock repurchased, shares | (0.1) | ||||||||||
Preferred stock redeemed | 0 | $ 0 | 0 | 0 | |||||||
Preferred stock redeemed, shares | 0 | ||||||||||
Common stock dividends | (948) | 13 | (961) | ||||||||
Preferred stock dividends | (280) | (280) | |||||||||
Stock-based compensation | 152 | 152 | |||||||||
Net change in deferred compensation and related plans | (45) | (40) | (5) | ||||||||
Net change | (1,896) | $ 0 | $ 0 | 125 | 1,852 | (3,841) | 153 | 0 | (185) | ||
Net change, shares | 0 | 3.1 | |||||||||
Balance, end of period at Jun. 30, 2022 | $ 179,793 | $ 20,057 | $ 9,136 | $ 60,024 | $ 184,475 | $ (10,608) | $ (84,906) | $ (646) | $ 2,261 | ||
Ending balance, shares at Jun. 30, 2022 | 5.3 | 3,793 | |||||||||
[1]Represents the impact of the redemption of Preferred Stock, Series I, Series P and Series W, in first quarter 2021, and Preferred Stock, Series N, in second quarter 2021.[2]Represents the impact of the redemption of the remaining Preferred Stock, Series N, in second quarter 2021. |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | ||
Cash flows from operating activities: | |||
Net income before noncontrolling interests | $ 6,754 | $ 11,434 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for credit losses | (207) | (2,308) | |
Changes in fair value of MSRs and LHFS carried at fair value | (1,236) | (895) | |
Depreciation, amortization and accretion | 3,563 | 4,173 | |
Deferred income tax benefit | (292) | (1,495) | |
Other, net | (12,071) | (6,186) | [1] |
Originations and purchases of loans held for sale | (43,271) | (87,673) | |
Proceeds from sales of and paydowns on loans originally classified as held for sale | 41,623 | 55,502 | |
Net change in: | |||
Debt and equity securities, held for trading | 20,943 | 7,531 | |
Derivative assets and liabilities | 3,665 | (1,299) | |
Other assets | (13,763) | 11,256 | |
Other accrued expenses and liabilities | 2,079 | (1,572) | |
Net cash provided (used) by operating activities | 7,787 | (11,532) | |
Net change in: | |||
Federal funds sold and securities purchased under resale agreements | 10,677 | (4,477) | |
Available-for-sale debt securities: | |||
Proceeds from sales | 15,330 | 13,675 | |
Prepayments and maturities | 11,850 | 45,238 | |
Purchases | (31,292) | (71,997) | |
Held-to-maturity debt securities: | |||
Paydowns and maturities | 15,966 | 45,833 | |
Purchases | (2,360) | (43,192) | |
Equity securities, not held for trading: | |||
Proceeds from sales and capital returns | 3,090 | 2,131 | |
Purchases | (2,744) | (3,033) | |
Loans: | |||
Loans originated by banking subsidiaries, net of principal collected | (56,839) | 21,926 | |
Proceeds from sales of loans originally classified as held for investment | 8,171 | 22,174 | |
Purchases of loans | (376) | (186) | |
Principal collected on nonbank entities’ loans | 2,705 | 7,007 | |
Loans originated by nonbank entities | (2,244) | (5,723) | |
Other, net | 597 | 1,428 | [1] |
Net cash provided (used) by investing activities | (27,469) | 30,804 | |
Net change in: | |||
Deposits | (57,326) | 36,575 | |
Short-term borrowings | 2,494 | (13,364) | |
Long-term debt: | |||
Proceeds from issuance | 16,378 | 1,125 | |
Repayment | (11,978) | (29,810) | |
Preferred stock: | |||
Proceeds from issuance | 0 | 4,529 | |
Redeemed | 0 | (4,875) | |
Cash dividends paid | (558) | (629) | |
Common stock: | |||
Repurchased | (6,022) | (2,161) | |
Cash dividends paid | (1,904) | (795) | |
Other, net | (492) | (306) | [1] |
Net cash used by financing activities | (59,408) | (9,711) | |
Net change in cash, cash equivalents, and restricted cash | (79,090) | 9,561 | |
Cash, cash equivalents, and restricted cash at beginning of period | 234,230 | 264,612 | |
Cash, cash equivalents, and restricted cash at end of period | 155,140 | 274,173 | |
Supplemental cash flow disclosures: | |||
Cash paid for interest | 2,240 | 2,345 | |
Cash paid for income taxes, net | $ 3,817 | $ 3,052 | |
[1]Prior period balances have been revised to conform with the current period presentation. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2022 | |
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. We also hold a majority interest in a real estate investment trust, which has publicly traded preferred stock outstanding. Our accounting and reporting policies conform with U.S. generally accepted accounting principles (GAAP) and practices in the financial services industry. For discussion of our significant accounting policies, see Note 1 (Summary of Significant Accounting Policies) in our Annual Report on Form 10-K for the year ended December 31, 2021 (2021 Form 10-K). There were no material changes to these policies in the first half of 2022. 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 4 (Loans and Related Allowance for Credit Losses)); • valuations of residential mortgage servicing rights (MSRs) (Note 8 (Securitizations and Variable Interest Entities) and Note 9 (Mortgage Banking Activities)); • valuations of financial instruments (Note 15 (Fair Values of Assets and Liabilities)); • liabilities for contingent litigation losses (Note 13 (Legal Actions)); • income taxes; and • goodwill impairment (Note 10 (Intangible Assets)). Actual results could differ from those estimates. These unaudited interim financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the periods presented. These adjustments are of a normal recurring nature, unless otherwise disclosed in this Form 10-Q. The results of operations in the interim financial statements do not necessarily indicate the results that may be expected for the full year. The interim financial information should be read in conjunction with our 2021 Form 10-K. Accounting Standards Adopted in 2022 In 2022, we adopted the following new accounting guidance: • Accounting Standards Update (ASU or Update) 2020-06 – Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity • ASU 2021-05 – Leases (Topic 842): Lessors – Certain Leases with Variable Lease Payments ASU 2020-06 simplifies the accounting for convertible financial instruments that embody characteristics of debt and equity by (1) eliminating accounting models for convertible financial instruments with cash conversion and beneficial conversion features within Accounting Standards Codification (ASC) 470-20, (2) removing three equity classification requirements for a contract in an entity's own equity to qualify for the derivative scope exception in ASC Subtopic 815-40, and (3) prescribing the method used for computing earnings per share. We adopted this Update prospectively in first quarter 2022. This Update did not have a material impact to our consolidated financial statements. ASU 2021-05 amends ASC 842 Topic – Leases and provides specific guidance for lessors whose leases include variable lease payments that are not dependent on a reference index or rate and otherwise would have resulted in the recognition of a loss at lease commencement (a day 1 loss). Prior to ASU 2016-02, variable lease payments were excluded from the definition of lease payments for lessors measuring their net investment loss in a sales-type lease or direct financing lease. This often resulted in a day 1 loss, even if the lessor expected the arrangement to be profitable overall. We adopted this Update prospectively in first quarter 2022. This Update did not have a material impact to our consolidated financial statements. Supplemental Cash Flow Information Significant noncash activities are presented in Table 1.1. Table 1.1: Supplemental Cash Flow Information Six months ended June 30, (in millions) 2022 2021 Available-for-sale debt securities purchased from securitization of LHFS (1) $ 1,506 — Held-to-maturity debt securities purchased from securitization of LHFS (1) 693 16,462 Transfers from loans to LHFS 4,970 11,551 Transfers from available-for-sale debt securities to held-to-maturity debt securities 43,041 41,298 (1) Predominantly represents agency mortgage-backed securities purchased upon settlement of the sale and securitization of our conforming residential mortgage loans. See Note 8 (Securitizations and Variable Interest Entities) for additional information. Subsequent Events |
Trading Activities
Trading Activities | 6 Months Ended |
Jun. 30, 2022 | |
Trading Activities [Abstract] | |
Trading Activities | Note 2: Trading Activities Table 2.1 presents a summary of our trading assets and liabilities measured at fair value through earnings. Table 2.1: Trading Assets and Liabilities (in millions) Jun 30, Dec 31, Trading assets: Debt securities $ 89,157 88,265 Equity securities (1) 25,930 27,476 Loans held for sale 1,913 3,242 Gross trading derivative assets (1) 67,487 48,325 Netting (2) (43,871) (28,146) Total trading derivative assets 23,616 20,179 Total trading assets 140,616 139,162 Trading liabilities: Short sale 22,116 20,685 Other liabilities 518 — Gross trading derivative liabilities (1) 58,182 42,449 Netting (2) (42,222) (33,978) Total trading derivative liabilities 15,960 8,471 Total trading liabilities $ 38,594 29,156 (1) In first quarter 2022, we prospectively reclassified certain equity securities and related economic hedge derivatives from “not held for trading activities” to “held for trading activities” to better reflect the business activity of those financial instruments. For additional information on Trading Activities, see Note 1 (Summary of Significant Accounting Policies) in our 2021 Form 10-K. (2) Represents balance sheet netting for trading derivative asset and liability balances, and trading portfolio level counterparty valuation adjustments. Table 2.2 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 2.2: Net Interest Income and Net Gains (Losses) from Trading Activities Quarter ended June 30, Six months ended June 30, (in millions) 2022 2021 2022 2021 Interest income: Debt securities $ 549 496 $ 1,097 1,025 Equity securities (1) 139 93 259 196 Loans held for sale 9 3 20 15 Total interest income 697 592 1,376 1,236 Less: Interest expense 158 105 290 215 Net interest income 539 487 1,086 1,021 Net gains (losses) from trading activities (2): Debt securities (3,103) 769 (6,751) (1,337) Equity securities (1) (3,606) 856 (4,430) 2,009 Loans held for sale 1 15 10 39 Other liabilities 11 — 23 — Derivatives (1)(3) 7,143 (1,619) 11,812 (342) Total net gains from trading activities 446 21 664 369 Total trading-related net interest and noninterest income $ 985 508 $ 1,750 1,390 (1) In first quarter 2022, we prospectively reclassified certain equity securities and related economic hedge derivatives from “not held for trading activities” to “held for trading activities” to better reflect the business activity of those financial instruments. For additional information on Trading Activities, see Note 1 (Summary of Significant Accounting Policies) in our 2021 Form 10-K. (2) Represents realized gains (losses) from our trading activities and unrealized gains (losses) due to changes in fair value of our trading positions. (3) 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 | 6 Months Ended |
Jun. 30, 2022 | |
AFS and HTM Debt Securities [Abstract] | |
Available-for-Sale and Held-to-Maturity Debt Securities | Note 3: Available-for-Sale and Held-to-Maturity Debt Securities Table 3.1 provides the amortized cost, net of the allowance for credit losses (ACL) for debt securities, and fair value by major categories of available-for-sale (AFS) debt securities, which are carried at fair value, and held-to-maturity (HTM) debt securities, which are carried at amortized cost, net of the ACL. The net unrealized gains (losses) for AFS debt securities are reported as a component of accumulated other comprehensive income (AOCI), net of the ACL and applicable income taxes. Information on debt securities held for trading is included in Note 2 (Trading Activities). Outstanding balances exclude accrued interest receivable on AFS and HTM debt securities, which are included in other assets. See Note 7 (Other Assets) for additional information on accrued interest receivable. Amounts considered to be uncollectible are reversed through interest income. The interest income reversed in the second quarter and first half of both 2022 and 2021 was insignificant. Table 3.1: Available-for-Sale and Held-to-Maturity Debt Securities Outstanding (in millions) Amortized Gross Gross Fair value June 30, 2022 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ 48,772 37 (2,294) 46,515 Non-U.S. government securities 166 — — 166 Securities of U.S. states and political subdivisions (2) 12,444 45 (413) 12,076 Federal agency mortgage-backed securities 59,559 13 (3,377) 56,195 Non-agency mortgage-backed securities (3) 3,917 4 (117) 3,804 Collateralized loan obligations 4,513 — (104) 4,409 Other debt securities 2,620 91 (44) 2,667 Total available-for-sale debt securities 131,991 190 (6,349) 125,832 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies 16,198 — (1,232) 14,966 Securities of U.S. states and political subdivisions 32,483 28 (3,812) 28,699 Federal agency mortgage-backed securities 219,972 — (23,737) 196,235 Non-agency mortgage-backed securities (3) 1,220 — (121) 1,099 Collateralized loan obligations 30,183 1 (760) 29,424 Other debt securities 1,727 — (106) 1,621 Total held-to-maturity debt securities 301,783 29 (29,768) 272,044 Total $ 433,774 219 (36,117) 397,876 December 31, 2021 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ 39,668 185 (192) 39,661 Non-U.S. government securities 71 — — 71 Securities of U.S. states and political subdivisions (2) 16,618 350 (51) 16,917 Federal agency mortgage-backed securities 104,661 1,807 (582) 105,886 Non-agency mortgage-backed securities (3) 4,515 32 (15) 4,532 Collateralized loan obligations 5,713 2 (7) 5,708 Other debt securities 4,217 259 (7) 4,469 Total available-for-sale debt securities 175,463 2,635 (854) 177,244 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies 16,544 599 (318) 16,825 Securities of U.S. states and political subdivisions 32,689 847 (61) 33,475 Federal agency mortgage-backed securities 188,909 1,882 (2,807) 187,984 Non-agency mortgage-backed securities (3) 1,082 31 (18) 1,095 Collateralized loan obligations 31,067 194 (2) 31,259 Other debt securities 1,731 17 — 1,748 Total held-to-maturity debt securities 272,022 3,570 (3,206) 272,386 Total $ 447,485 6,205 (4,060) 449,630 (1) Represents amortized cost of the securities, net of the ACL of $9 million and $8 million related to AFS debt securities and $83 million and $96 million related to HTM debt securities at June 30, 2022, and December 31, 2021, respectively. (2) 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, net of the ACL, and fair value of these types of securities, was $5.4 billion at June 30, 2022, and $5.2 billion at December 31, 2021. (3) Predominantly consists of commercial mortgage-backed securities at both June 30, 2022, and December 31, 2021. Table 3.2 details the breakout of purchases of and transfers to HTM debt securities by major category of security. Table 3.2: Held-to-Maturity Debt Securities Purchases and Transfers Quarter ended June 30, Six months ended June 30, (in millions) 2022 2021 2022 2021 Purchases of held-to-maturity debt securities (1): Securities of U.S. states and political subdivisions $ 9 1,173 $ 843 3,083 Federal agency mortgage-backed securities — 24,855 2,051 49,722 Non-agency mortgage-backed securities 55 55 159 84 Collateralized loan obligations — 3,385 — 7,338 Total purchases of held-to-maturity debt securities 64 29,468 3,053 60,227 Transfers from available-for-sale debt securities to held-to-maturity debt securities (2): Federal agency mortgage-backed securities 28,390 24,681 43,041 41,298 Total transfers from available-for-sale debt securities to held-to-maturity debt securities $ 28,390 24,681 $ 43,041 41,298 (1) Inclusive of securities purchased but not yet settled and noncash purchases from securitization of loans held for sale (LHFS). (2) Represents fair value as of the date of the transfers. Debt securities transferred from available-for-sale to held-to-maturity had pre-tax unrealized losses recorded in AOCI of $3.5 billion and $3.9 billion in the second quarter and first half of 2022, respectively, and $269 million and $615 million in the second quarter and first half of 2021, respectively, at the time of the transfers. Table 3.3 shows the composition of interest income, provision for credit losses, and gross realized gains and losses from sales and impairment write-downs included in earnings related to AFS and HTM debt securities (pre-tax) . Table 3.3: Income Statement Impacts for Available-for-Sale and Held-to-Maturity Debt Securities Quarter ended June 30, Six months ended June 30, (in millions) 2022 2021 2022 2021 Interest income (1): Available-for-sale $ 683 655 $ 1,385 1,466 Held-to-maturity 1,470 1,048 2,783 2,020 Total interest income 2,153 1,703 4,168 3,486 Provision for credit losses: Available-for-sale 3 (10) 4 12 Held-to-maturity (1) (11) (14) 36 Total provision for credit losses 2 (21) (10) 48 Realized gains and losses (2): Gross realized gains 247 1 249 152 Gross realized losses (104) (1) (104) (1) Net realized gains $ 143 — $ 145 151 (1) Excludes interest income from trading debt securities, which is disclosed in Note 2 (Trading Activities). (2) Realized gains and losses relate to AFS debt securities. There were no realized gains or losses from HTM debt securities in all periods presented. Credit Quality We monitor credit quality of debt securities by evaluating various attributes and utilize such information in our evaluation of the appropriateness of the ACL for debt securities. The credit quality indicators that we most closely monitor include credit ratings and delinquency status and are based on information as of our financial statement date. CREDIT RATINGS Credit ratings express opinions about the credit quality of a debt security. We determine the credit rating of a security according to the lowest credit rating made available by national recognized statistical rating organizations (NRSROs). Debt securities rated investment grade, that is those with ratings similar to BBB-/Baa3 or above, as defined by NRSROs, 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. For debt securities not rated by NRSROs, we determine an internal credit grade of the debt securities (used for credit risk management purposes) equivalent to the credit ratings assigned by major credit agencies. Substantially all of our debt securities were rated by NRSROs at June 30, 2022, and December 31, 2021. Table 3.4 shows the percentage of fair value of AFS debt securities and amortized cost of HTM debt securities determined to be rated investment grade, inclusive of securities rated based on internal credit grades. Table 3.4: Investment Grade Debt Securities Available-for-Sale Held-to-Maturity ($ in millions) Fair value % investment grade Amortized cost % investment grade June 30, 2022 Total portfolio (1) $ 125,832 99 % $ 301,866 99 % Breakdown by category: Securities of U.S. Treasury and federal agencies (2) $ 102,710 100 % $ 236,170 100 % Securities of U.S. states and political subdivisions 12,076 99 32,498 100 Collateralized loan obligations (3) 4,409 100 30,228 100 All other debt securities (4) 6,637 89 2,970 61 December 31, 2021 Total portfolio (1) $ 177,244 99 % $ 272,118 99 % Breakdown by category: Securities of U.S. Treasury and federal agencies (2) $ 145,547 100 % $ 205,453 100 % Securities of U.S. states and political subdivisions 16,917 99 32,704 100 Collateralized loan obligations (3) 5,708 100 31,128 100 All other debt securities (4) 9,072 88 2,833 64 (1) 98% were rated AA- and above at both June 30, 2022, and December 31, 2021, respectively. (2) Includes federal agency mortgage-backed securities. (3) 100% were rated AA- and above at both June 30, 2022, and December 31, 2021, respectively. (4) Includes non-U.S. government, non-agency mortgage-backed, and all other debt securities. DELINQUENCY STATUS AND NONACCRUAL DEBT SECURITIES Debt security issuers that are delinquent in payment of amounts due under contractual debt agreements have a higher probability of recognition of credit losses. As such, as part of our monitoring of the credit quality of the debt security portfolio, we consider whether debt securities we own are past due in payment of principal or interest payments and whether any securities have been placed into nonaccrual status. Debt securities that are past due and still accruing were insignificant at both June 30, 2022, and December 31, 2021. The carrying value of debt securities in nonaccrual status was insignificant at both June 30, 2022, and December 31, 2021. Charge-offs on debt securities were insignificant in the second quarter and first half of both 2022 and 2021. Purchased debt securities with credit deterioration (PCD) are not considered to be in nonaccrual status, as payments from issuers of these securities remain current. PCD securities were insignificant in the second quarter and first half of both 2022 and 2021. Unrealized Losses of Available-for-Sale Debt Securities Table 3.5 shows the gross unrealized losses and fair value of AFS 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 recorded credit impairment 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 amortized cost basis, net of allowance for credit losses. Table 3.5: Gross Unrealized Losses and Fair Value – Available-for-Sale Debt Securities Less than 12 months 12 months or more Total (in millions) Gross unrealized losses Fair value Gross unrealized losses Fair value Gross unrealized losses Fair value June 30, 2022 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ (2,222) 42,780 (72) 1,741 (2,294) 44,521 Securities of U.S. states and political subdivisions (296) 4,020 (117) 602 (413) 4,622 Federal agency mortgage-backed securities (2,996) 51,990 (381) 2,999 (3,377) 54,989 Non-agency mortgage-backed securities (94) 3,253 (23) 493 (117) 3,746 Collateralized loan obligations (88) 3,857 (16) 552 (104) 4,409 Other debt securities (29) 1,870 (15) 511 (44) 2,381 Total available-for-sale debt securities $ (5,725) 107,770 (624) 6,898 (6,349) 114,668 December 31, 2021 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ (192) 24,418 — — (192) 24,418 Securities of U.S. states and political subdivisions (36) 2,308 (15) 532 (51) 2,840 Federal agency mortgage-backed securities (334) 40,695 (248) 9,464 (582) 50,159 Non-agency mortgage-backed securities (4) 1,966 (11) 543 (15) 2,509 Collateralized loan obligations (3) 1,619 (4) 1,242 (7) 2,861 Other debt securities — — (7) 624 (7) 624 Total available-for-sale debt securities $ (569) 71,006 (285) 12,405 (854) 83,411 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. Credit impairment is recorded as an ACL for debt securities. For descriptions of the factors we consider when analyzing debt securities for impairment as well as methodology and significant inputs used to measure credit losses, see Note 1 (Summary of Significant Accounting Policies) in our 2021 Form 10-K. Contractual Maturities Table 3.6 and Table 3.7 show the remaining contractual maturities, amortized cost, net of the ACL, fair value and weighted average effective yields of AFS and HTM debt securities, respectively. The remaining contractual principal maturities for mortgage-backed securities (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 3.6: Contractual Maturities – Available-for-Sale Debt Securities By remaining contractual maturity ($ in millions) Total Within After After After June 30, 2022 Available-for-sale debt securities (1): Securities of U.S. Treasury and federal agencies Amortized cost, net $ 48,772 1,977 17,259 27,892 1,644 Fair value 46,515 1,948 16,916 25,983 1,668 Weighted average yield 1.03 % 0.55 0.35 1.45 1.44 Non-U.S. government securities Amortized cost, net $ 166 1 140 25 — Fair value 166 1 140 25 — Weighted average yield 1.14 % 1.49 1.27 0.43 — Securities of U.S. states and political subdivisions Amortized cost, net $ 12,444 1,133 2,779 5,234 3,298 Fair value 12,076 1,132 2,795 4,977 3,172 Weighted average yield 1.94 % 1.77 1.73 1.88 2.28 Federal agency mortgage-backed securities Amortized cost, net $ 59,559 — 241 1,024 58,294 Fair value 56,195 — 236 999 54,960 Weighted average yield 3.05 % — 1.98 2.34 3.06 Non-agency mortgage-backed securities Amortized cost, net $ 3,917 — — 28 3,889 Fair value 3,804 — — 28 3,776 Weighted average yield 2.64 % — — 3.50 2.64 Collateralized loan obligations Amortized cost, net $ 4,513 — 9 4,101 403 Fair value 4,409 — 9 4,013 387 Weighted average yield 2.43 % — 2.74 2.43 2.40 Other debt securities Amortized cost, net $ 2,620 92 247 917 1,364 Fair value 2,667 90 243 914 1,420 Weighted average yield 2.57 % 2.40 2.43 2.42 2.72 Total available-for-sale debt securities Amortized cost, net $ 131,991 3,203 20,675 39,221 68,892 Fair value 125,832 3,171 20,339 36,939 65,383 Weighted average yield 2.15 % 1.03 0.58 1.66 2.95 (1) Weighted average yields displayed by maturity bucket are weighted based on amortized cost without effect for any related hedging derivatives and are shown pre-tax. Table 3.7: Contractual Maturities – Held-to-Maturity Debt Securities By remaining contractual maturity ($ in millions) Total Within After After After June 30, 2022 Held-to-maturity debt securities (1): Securities of U.S. Treasury and federal agencies Amortized cost, net $ 16,198 — 12,413 — 3,785 Fair value 14,966 — 12,249 — 2,717 Weighted average yield 2.18 % — 2.37 — 1.58 Securities of U.S. states and political subdivisions Amortized cost, net $ 32,483 1,657 2,852 2,091 25,883 Fair value 28,699 1,656 2,815 2,061 22,167 Weighted average yield 2.14 % 2.28 1.40 2.37 2.19 Federal agency mortgage-backed securities Amortized cost, net $ 219,972 — — — 219,972 Fair value 196,235 — — — 196,235 Weighted average yield 2.24 % — — — 2.24 Non-agency mortgage-backed securities Amortized cost, net $ 1,220 15 18 49 1,138 Fair value 1,099 14 18 47 1,020 Weighted average yield 3.02 % 3.24 2.93 3.43 3.00 Collateralized loan obligations Amortized cost, net $ 30,183 — — 13,070 17,113 Fair value 29,424 — — 12,881 16,543 Weighted average yield 2.50 % — — 2.60 2.42 Other debt securities Amortized cost, net $ 1,727 — 760 967 — Fair value 1,621 — 729 892 — Weighted average yield 4.47 % — 4.13 4.74 — Total held-to-maturity debt securities Amortized cost, net $ 301,783 1,672 16,043 16,177 267,891 Fair value 272,044 1,670 15,811 15,881 238,682 Weighted average yield 2.26 % 2.29 2.28 2.70 2.24 (1) Weighted average yields displayed by maturity bucket are weighted based on amortized cost, excluding unamortized basis adjustments related to the transfer of certain debt securities from AFS to HTM, and are shown pre-tax. |
Loans and Related Allowance for
Loans and Related Allowance for Credit Losses | 6 Months Ended |
Jun. 30, 2022 | |
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |
Loans and Related Allowance for Credit Losses | Note 4: Loans and Related Allowance for Credit Losses Table 4.1 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 June 30, 2022, and December 31, 2021. Outstanding balances exclude accrued interest receivable on loans, except for certain revolving loans, such as credit card loans. See Note 7 (Other Assets) for additional information on accrued interest receivable. Amounts considered to be uncollectible are reversed through interest income. During the first half of 2022, we reversed accrued interest receivable of $20 million for our commercial portfolio segment and $65 million for our consumer portfolio segment, compared with $24 million and $104 million, respectively, for the same period a year ago. Table 4.1: Loans Outstanding (in millions) Jun 30, Dec 31, Commercial: Commercial and industrial $ 380,235 350,436 Real estate mortgage 133,411 127,733 Real estate construction 21,743 20,092 Lease financing 14,530 14,859 Total commercial 549,919 513,120 Consumer: Residential mortgage – first lien 252,941 242,270 Residential mortgage – junior lien 14,604 16,618 Credit card 41,222 38,453 Auto 55,658 56,659 Other consumer 29,390 28,274 Total consumer 393,815 382,274 Total loans $ 943,734 895,394 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 4.2 presents total non-U.S. commercial loans outstanding by class of financing receivable. Table 4.2: Non-U.S. Commercial Loans Outstanding (in millions) Jun 30, Dec 31, Non-U.S. commercial loans: Commercial and industrial $ 82,621 77,365 Real estate mortgage 6,442 7,070 Real estate construction 1,619 1,582 Lease financing 696 680 Total non-U.S. commercial loans $ 91,378 86,697 Loan Purchases, Sales, and Transfers Table 4.3 presents the proceeds paid or received for purchases and sales of loans and transfers from loans held for investment to mortgages/loans held for sale. The table excludes loans for which we have elected the fair value option and government insured/guaranteed residential mortgage – first lien loans because their loan activity normally does not impact the ACL. Table 4.3: Loan Purchases, Sales, and Transfers 2022 2021 (in millions) Commercial Consumer Total Commercial Consumer Total Quarter ended June 30, Purchases $ 276 2 278 134 1 135 Sales (689) — (689) (65) — (65) Transfers (to)/from LHFS (62) (14) (76) (359) (99) (458) Six months ended Purchases $ 376 2 378 182 2 184 Sales (1,271) — (1,271) (338) (188) (526) Transfers (to)/from LHFS (41) (23) (64) (794) (36) (830) Unfunded Credit Commitments Unfunded credit commitments are legally binding agreements to lend to customers with terms covering usage of funds, contractual interest rates, expiration dates, and any required collatera l. Our commercial lending commitments include, but are not limited to, (i) commitments for working capital and general corporate purposes, (ii) financing to customers who warehouse financial assets secured by real estate, consumer, or corporate loans, (iii) financing that is expected to be syndicated or replaced with other forms of long-term financing, and (iv) commercial real estate lending. We also originate multipurpose lending commitments under which commercial customers have the option to draw on the facility in one of several forms, including the issuance of letters of credit, which reduces the unfunded commitment amounts of the facility. The maximum credit risk for these commitments will generally be lower than the contractual amount because these commitments may expire without being used or may be cancelled at the customer’s request. We may reduce or cancel lines of credit in accordance with the contracts and applicable law. Certain commitments either provide us with funding discretion or are subject to loan agreements with covenants regarding the financial performance of the customer or borrowing base formulas that must be met before we are required to fund the commitment. Our credit risk monitoring activities include managing the amount of commitments, both to individual customers and in total, and the size and maturity structure of these commitments. We do not recognize an ACL for commitments that are unconditionally cancellable at our discretion. We issue commercial letters of credit to assist customers in purchasing goods or services, typically for international trade. At June 30, 2022, and December 31, 2021, we had $2.2 billion and $1.5 billion, respectively, of outstanding issued commercial letters of credit. See Note 11 (Guarantees and Other Commitments) for additional information on issued standby letters of credit. We may be a fronting bank, whereby we act as a representative for other lenders, and 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 fronting arrangements totaled approximately $87.6 billion at June 30, 2022. The contractual amount of our unfunded credit commitments, including unissued letters of credit, is summarized in Table 4.4. The table excludes issued letters of credit and is presented net of commitments syndicated to others, including the fronting arrangements described above. Table 4.4: Unfunded Credit Commitments (in millions) Jun 30, Dec 31, Commercial: Commercial and industrial (1) $ 399,216 388,162 Real estate mortgage 9,350 11,515 Real estate construction 21,178 19,943 Total commercial 429,744 419,620 Consumer: Residential mortgage – first lien 24,929 32,992 Residential mortgage – junior lien 24,142 27,447 Credit card 137,789 130,743 Other consumer (1) 67,339 75,919 Total consumer 254,199 267,101 Total unfunded credit commitments $ 683,943 686,721 (1) In second quarter 2022, we reclassified commitments for securities-based loans from commercial and industrial loan commitments to other consumer loan commitments to align all securities-based loan commitments originated by the Wealth and Investment Management operating segment. Prior period balances have been revised to conform with the current period presentation. Allowance for Credit Losses Table 4.5 presents the allowance for credit losses (ACL) for loans, which consists of the allowance for loan losses and the allowance for unfunded credit commitments. The ACL for loans decreased $904 million from December 31, 2021, reflecting reduced uncertainty around the economic impact of the COVID-19 pandemic on our loan portfolio. This decrease was partially offset by increased uncertainty related to the risks of high inflation, as well as loan growth. Table 4.5: Allowance for Credit Losses for Loans Quarter ended June 30, Six months ended June 30, ($ in millions) 2022 2021 2022 2021 Balance, beginning of period $ 12,681 18,043 $ 13,788 19,713 Provision for credit losses 578 (1,239) (197) (2,356) Interest income on certain loans (1) (27) (36) (56) (77) Loan charge-offs: Commercial: Commercial and industrial (68) (149) (124) (308) Real estate mortgage (3) (11) (3) (63) Real estate construction — — — — Lease financing (5) (10) (9) (31) Total commercial (76) (170) (136) (402) Consumer: Residential mortgage – first lien (26) (6) (51) (23) Residential mortgage – junior lien (20) (12) (42) (31) Credit card (287) (357) (554) (692) Auto (151) (128) (316) (257) Other consumer (94) (79) (202) (226) Total consumer (578) (582) (1,165) (1,229) Total loan charge-offs (654) (752) (1,301) (1,631) Loan recoveries: Commercial: Commercial and industrial 41 68 120 139 Real estate mortgage 7 16 12 22 Real estate construction — 1 — 1 Lease financing 5 5 10 11 Total commercial 53 90 142 173 Consumer: Residential mortgage – first lien 29 25 57 66 Residential mortgage – junior lien 33 43 73 81 Credit card 88 101 179 200 Auto 83 83 152 160 Other consumer 24 29 49 57 Total consumer 257 281 510 564 Total loan recoveries 310 371 652 737 Net loan charge-offs (344) (381) (649) (894) Other (4) 4 (2) 5 Balance, end of period $ 12,884 16,391 $ 12,884 16,391 Components: Allowance for loan losses $ 11,786 15,148 $ 11,786 15,148 Allowance for unfunded credit commitments 1,098 1,243 1,098 1,243 Allowance for credit losses $ 12,884 16,391 $ 12,884 16,391 Net loan charge-offs as a percentage of average total loans 0.15 % 0.18 0.14 0.21 Allowance for loan losses as a percentage of total loans 1.25 1.78 1.25 1.78 Allowance for credit losses for loans as a percentage of total loans 1.37 1.92 1.37 1.92 (1) Loans with an allowance measured 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 4.6 summarizes the activity in the ACL by our commercial and consumer portfolio segments. Table 4.6: Allowance for Credit Losses for Loans Activity by Portfolio Segment 2022 2021 (in millions) Commercial Consumer Total Commercial Consumer Total Quarter ended June 30, Balance, beginning of period $ 7,148 5,533 12,681 10,682 7,361 18,043 Provision for credit losses (32) 610 578 (1,021) (218) (1,239) Interest income on certain loans (1) (7) (20) (27) (15) (21) (36) Loan charge-offs (76) (578) (654) (170) (582) (752) Loan recoveries 53 257 310 90 281 371 Net loan charge-offs (23) (321) (344) (80) (301) (381) Other (4) — (4) 4 — 4 Balance, end of period $ 7,082 5,802 12,884 9,570 6,821 16,391 Six months ended June 30, Balance, beginning of period $ 7,791 5,997 13,788 11,516 8,197 19,713 Provision for credit losses (697) 500 (197) (1,688) (668) (2,356) Interest income on certain loans (1) (16) (40) (56) (34) (43) (77) Loan charge-offs (136) (1,165) (1,301) (402) (1,229) (1,631) Loan recoveries 142 510 652 173 564 737 Net loan charge-offs 6 (655) (649) (229) (665) (894) Other (2) — (2) 5 — 5 Balance, end of period $ 7,082 5,802 12,884 9,570 6,821 16,391 (1) Loans with an allowance measured 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. Credit Quality We monitor credit quality by evaluating various attributes and utilize such information in our evaluation of the appropriateness of the ACL for loans. 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. COMMERCIAL CREDIT QUALITY INDICATORS We manage a consistent process for assessing commercial loan credit quality. Commercial loans are generally subject to individual risk assessment using our internal borrower and collateral quality ratings, which is our primary credit quality indicator. Our ratings are aligned to regulatory definitions of pass and criticized categories with the criticized segmented among special mention, substandard, doubtful and loss categories. Table 4.7 provides the outstanding balances of our commercial loan portfolio by risk category and credit quality information by origination year for term loans. Revolving loans may convert to term loans as a result of a contractual provision in the original loan agreement or if modified in a troubled debt restructuring (TDR). At June 30, 2022, we had $526.5 billion and $23.4 billion of pass and criticized commercial loans, respectively. Table 4.7: Commercial Loan Categories by Risk Categories and Vintage Term loans by origination year Revolving loans Revolving loans converted to term loans Total (in millions) 2022 2021 2020 2019 2018 Prior June 30, 2022 Commercial and industrial Pass $ 38,557 37,325 11,983 16,317 5,329 7,622 252,271 777 370,181 Criticized 548 1,464 737 729 793 749 5,034 — 10,054 Total commercial and industrial 39,105 38,789 12,720 17,046 6,122 8,371 257,305 777 380,235 Real estate mortgage Pass 21,684 34,936 14,144 15,869 11,230 19,604 5,355 12 122,834 Criticized 886 2,151 1,011 2,673 1,379 2,224 253 — 10,577 Total real estate mortgage 22,570 37,087 15,155 18,542 12,609 21,828 5,608 12 133,411 Real estate construction Pass 2,445 6,553 3,859 3,919 1,464 550 1,218 — 20,008 Criticized 285 545 174 467 197 67 — — 1,735 Total real estate construction 2,730 7,098 4,033 4,386 1,661 617 1,218 — 21,743 Lease financing Pass 1,941 3,897 2,536 1,938 1,052 2,144 — — 13,508 Criticized 157 259 191 204 127 84 — — 1,022 Total lease financing 2,098 4,156 2,727 2,142 1,179 2,228 — — 14,530 Total commercial loans $ 66,503 87,130 34,635 42,116 21,571 33,044 264,131 789 549,919 Term loans by origination year Revolving loans Revolving loans converted to term loans Total 2021 2020 2019 2018 2017 Prior December 31, 2021 Commercial and industrial Pass $ 65,562 15,193 20,553 7,400 3,797 13,985 211,452 679 338,621 Criticized 1,657 884 1,237 1,256 685 551 5,528 17 11,815 Total commercial and industrial 67,219 16,077 21,790 8,656 4,482 14,536 216,980 696 350,436 Real estate mortgage Pass 38,196 15,929 19,013 12,618 7,451 16,026 5,411 3 114,647 Criticized 3,462 1,119 2,975 1,834 875 2,421 400 — 13,086 Total real estate mortgage 41,658 17,048 21,988 14,452 8,326 18,447 5,811 3 127,733 Real estate construction Pass 5,895 4,058 4,549 2,167 379 329 1,042 2 18,421 Criticized 510 266 586 234 68 7 — — 1,671 Total real estate construction 6,405 4,324 5,135 2,401 447 336 1,042 2 20,092 Lease financing Pass 4,100 3,012 2,547 1,373 838 1,805 — — 13,675 Criticized 284 246 282 184 86 102 — — 1,184 Total lease financing 4,384 3,258 2,829 1,557 924 1,907 — — 14,859 Total commercial loans $ 119,666 40,707 51,742 27,066 14,179 35,226 223,833 701 513,120 Table 4.8 provides past due information for commercial loans, which we monitor as part of our credit risk management practices; however, delinquency is not a primary credit quality indicator for commercial loans. Table 4.8: Commercial Loan Categories by Delinquency Status (in millions) Commercial Real Real Lease Total June 30, 2022 By delinquency status: Current-29 days past due (DPD) and still accruing $ 376,176 132,008 21,510 14,288 543,982 30-89 DPD and still accruing 2,842 421 230 146 3,639 90+ DPD and still accruing 495 84 — — 579 Nonaccrual loans 722 898 3 96 1,719 Total commercial loans $ 380,235 133,411 21,743 14,530 549,919 December 31, 2021 By delinquency status: Current-29 DPD and still accruing $ 348,033 126,184 19,900 14,568 508,685 30-89 DPD and still accruing 1,217 285 179 143 1,824 90+ DPD and still accruing 206 29 — — 235 Nonaccrual loans 980 1,235 13 148 2,376 Total commercial loans $ 350,436 127,733 20,092 14,859 513,120 CONSUMER CREDIT QUALITY INDICATORS We have various classes of consumer loans that present unique credit risks. Loan delinquency, FICO credit scores and loan-to-value (LTV) for residential mortgage loans are the primary credit quality indicators that we monitor and utilize in our evaluation of the appropriateness of the ACL for the consumer loan portfolio segment. Many of our loss estimation techniques used for the ACL for loans rely on delinquency-based models; therefore, delinquency is an important indicator of credit quality in the establishment of our ACL for consumer loans. Table 4.9 provides the outstanding balances of our consumer loan portfolio by delinquency status. Credit quality information is provided with the year of origination for term loans. Revolving loans may convert to term loans as a result of a contractual provision in the original loan agreement or if modified in a TDR. The revolving loans converted to term loans in the credit card loan category represent credit card loans with modified terms that require payment over a specific term. Payment deferral activities in the residential mortgage portfolio instituted in response to the COVID-19 pandemic could continue to delay the recognition of delinquencies for residential mortgage customers who otherwise would have moved into past due status. Table 4.9: Consumer Loan Categories by Delinquency Status and Vintage Term loans by origination year Revolving loans Revolving loans converted to term loans (in millions) 2022 2021 2020 2019 2018 Prior Total June 30, 2022 Residential mortgage – first lien By delinquency status: Current-29 DPD $ 36,321 67,320 38,481 21,788 6,533 65,767 4,231 1,919 242,360 30-59 DPD 116 42 27 25 8 459 14 34 725 60-89 DPD 1 6 6 7 2 140 5 16 183 90-119 DPD 2 1 3 2 1 51 3 8 71 120-179 DPD — 7 4 1 4 79 3 16 114 180+ DPD — 3 25 21 26 576 25 134 810 Government insured/guaranteed loans (1) 1 41 128 146 220 8,142 — — 8,678 Total residential mortgage – first lien 36,441 67,420 38,674 21,990 6,794 75,214 4,281 2,127 252,941 Residential mortgage – junior lien By delinquency status: Current-29 DPD 12 31 18 25 22 591 8,856 4,706 14,261 30-59 DPD — — — — — 9 19 50 78 60-89 DPD — — — — — 4 8 22 34 90-119 DPD — — — — — 3 3 11 17 120-179 DPD — — — — — 4 5 16 25 180+ DPD — — — — — 23 35 131 189 Total residential mortgage – junior lien 12 31 18 25 22 634 8,926 4,936 14,604 Credit cards By delinquency status: Current-29 DPD — — — — — — 40,397 201 40,598 30-59 DPD — — — — — — 186 10 196 60-89 DPD — — — — — — 126 8 134 90-119 DPD — — — — — — 97 6 103 120-179 DPD — — — — — — 188 3 191 180+ DPD — — — — — — — — — Total credit cards — — — — — — 40,994 228 41,222 Auto By delinquency status: Current-29 DPD 11,764 23,554 9,625 6,283 2,225 1,024 — — 54,475 30-59 DPD 54 340 182 130 59 56 — — 821 60-89 DPD 15 118 56 42 18 19 — — 268 90-119 DPD 5 45 20 12 5 6 — — 93 120-179 DPD — 1 — — — — — — 1 180+ DPD — — — — — — — — — Total auto 11,838 24,058 9,883 6,467 2,307 1,105 — — 55,658 Other consumer By delinquency status: Current-29 DPD 2,019 1,606 484 439 116 116 24,407 131 29,318 30-59 DPD 2 6 1 2 1 2 7 6 27 60-89 DPD 1 3 1 1 1 1 5 4 17 90-119 DPD — 3 1 1 — — 4 2 11 120-179 DPD — — — 1 — — 6 1 8 180+ DPD — — — — — 1 1 7 9 Total other consumer 2,022 1,618 487 444 118 120 24,430 151 29,390 Total consumer loans $ 50,313 93,127 49,062 28,926 9,241 77,073 78,631 7,442 393,815 (continued on following page) (continued from previous page) Term loans by origination year Revolving loans Revolving loans converted to term loans (in millions) 2021 2020 2019 2018 2017 Prior Total December 31, 2021 Residential mortgage – first lien By delinquency status: Current-29 DPD $ 69,994 41,527 24,887 7,660 13,734 61,576 5,248 1,673 226,299 30-59 DPD 129 27 30 12 24 418 14 29 683 60-89 DPD 10 7 2 — 3 126 7 15 170 90-119 DPD — 1 1 1 5 53 4 9 74 120-179 DPD 1 16 2 2 1 63 4 14 103 180+ DPD — 62 72 71 92 1,294 36 156 1,783 Government insured/guaranteed loans (1) 14 134 209 349 364 12,088 — — 13,158 Total residential mortgage – first lien 70,148 41,774 25,203 8,095 14,223 75,618 5,313 1,896 242,270 Residential mortgage – junior lien By delinquency status: Current-29 DPD 28 20 30 26 21 700 10,883 4,426 16,134 30-59 DPD — — — — 1 10 29 46 86 60-89 DPD — — — — — 4 10 21 35 90-119 DPD — — — 1 — 3 4 12 20 120-179 DPD — — — — — 5 7 14 26 180+ DPD — — 1 — — 40 59 217 317 Total residential mortgage – junior lien 28 20 31 27 22 762 10,992 4,736 16,618 Credit cards By delinquency status: Current-29 DPD — — — — — — 37,686 192 37,878 30-59 DPD — — — — — — 176 7 183 60-89 DPD — — — — — — 118 5 123 90-119 DPD — — — — — — 98 5 103 120-179 DPD — — — — — — 165 1 166 180+ DPD — — — — — — — — — Total credit cards — — — — — — 38,243 210 38,453 Auto By delinquency status: Current-29 DPD 29,246 12,412 8,476 3,271 1,424 714 — — 55,543 30-59 DPD 220 193 165 81 46 57 — — 762 60-89 DPD 69 67 53 25 14 21 — — 249 90-119 DPD 31 27 22 9 6 8 — — 103 120-179 DPD — 1 1 — — — — — 2 180+ DPD — — — — — — — — — Total auto 29,566 12,700 8,717 3,386 1,490 800 — — 56,659 Other consumer By delinquency status: Current-29 DPD 2,221 716 703 203 107 125 23,988 143 28,206 30-59 DPD 3 2 3 1 — 2 10 4 25 60-89 DPD 2 1 2 1 — 1 5 1 13 90-119 DPD 1 1 2 1 — — 4 — 9 120-179 DPD — — — — — — 8 2 10 180+ DPD — — — — — 1 1 9 11 Total other consumer 2,227 720 710 206 107 129 24,016 159 28,274 Total consumer loans $ 101,969 55,214 34,661 11,714 15,842 77,309 78,564 7,001 382,274 (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 $3.0 billion and $5.7 billion at June 30, 2022, and December 31, 2021, respectively. Of the $1.6 billion of consumer loans not government insured/guaranteed that are 90 days or more past due at June 30, 2022, $412 million was accruing, compared with $2.7 billion past due and $424 million accruing at December 31, 2021. We obtain Fair Isaac Corporation (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). FICO scores are 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 by our retail brokerage business. Table 4.10 provides the outstanding balances of our consumer loan portfolio by FICO score. Substantially all of the scored consumer portfolio has an updated FICO score of 680 or above. Table 4.10: Consumer Loan Categories by FICO and Vintage Term loans by origination year Revolving loans Revolving loans converted to term loans (in millions) 2022 2021 2020 2019 2018 Prior Total June 30, 2022 By FICO: Residential mortgage – first lien 800+ $ 16,288 41,130 26,393 14,748 4,378 40,390 2,092 591 146,010 760-799 13,513 17,649 8,218 4,503 1,211 11,332 864 319 57,609 720-759 4,643 6,057 2,722 1,726 562 6,408 543 268 22,929 680-719 1,447 1,780 796 546 247 3,585 316 212 8,929 640-679 394 455 207 178 80 1,743 164 148 3,369 600-639 73 113 55 41 28 911 71 80 1,372 < 600 16 25 20 17 19 937 86 126 1,246 No FICO available 66 170 135 85 49 1,766 145 383 2,799 Government insured/guaranteed loans (1) 1 41 128 146 220 8,142 — — 8,678 Total residential mortgage – first lien 36,441 67,420 38,674 21,990 6,794 75,214 4,281 2,127 252,941 Residential mortgage – junior lien 800+ — — — — — 152 4,562 1,646 6,360 760-799 — — — — — 94 1,808 839 2,741 720-759 — — — — — 109 1,158 784 2,051 680-719 — — — — — 90 667 628 1,385 640-679 — — — — — 49 260 330 639 600-639 — — — — — 30 123 186 339 < 600 — — — — — 36 121 208 365 No FICO available 12 31 18 25 22 74 227 315 724 Total residential mortgage – junior lien 12 31 18 25 22 634 8,926 4,936 14,604 Credit card 800+ — — — — — — 4,726 1 4,727 760-799 — — — — — — 6,527 8 6,535 720-759 — — — — — — 8,940 27 8,967 680-719 — — — — — — 9,635 48 9,683 640-679 — — — — — — 6,279 47 6,326 600-639 — — — — — — 2,472 33 2,505 < 600 — — — — — — 2,216 63 2,279 No FICO available — — — — — — 199 1 200 Total credit card — — — — — — 40,994 228 41,222 Auto 800+ 2,083 3,824 1,656 1,290 484 203 — — 9,540 760-799 2,168 4,115 1,652 1,154 393 149 — — 9,631 720-759 2,054 3,833 1,628 1,103 388 162 — — 9,168 680-719 1,992 3,878 1,702 1,028 347 153 — — 9,100 640-679 1,732 3,456 1,313 720 243 124 — — 7,588 600-639 1,088 2,301 802 443 163 100 — — 4,897 < 600 721 2,606 1,116 709 276 203 — — 5,631 No FICO available — 45 14 20 13 11 — — 103 Total auto 11,838 24,058 9,883 6,467 2,307 1,105 — — 55,658 Other consumer 800+ 413 314 110 81 19 40 1,070 19 2,066 760-799 460 332 91 69 17 18 664 17 1,668 720-759 408 315 104 71 21 18 594 26 1,557 680-719 314 268 63 62 20 15 576 18 1,336 640-679 153 153 32 35 12 8 298 20 711 600-639 38 47 10 13 5 4 113 10 240 < 600 13 36 11 16 7 6 99 12 200 No FICO available 223 153 66 97 17 11 1,074 29 1,670 FICO not required — — — — — — 19,942 — 19,942 Total other consumer 2,022 1,618 487 444 118 120 24,430 151 29,390 Total consumer loans $ 50,313 93,127 49,062 28,926 9,241 77,073 78,631 7,442 393,815 (continued on following page) (continued from previous page) Term loans by origination year Revolving loans Revolving loans converted to term loans (in millions) 2021 2020 2019 2018 2017 Prior Total December 31, 2021 By FICO: Residential mortgage – first lien 800+ $ 35,935 27,396 16,583 5,153 9,430 37,495 2,554 469 135,015 760-799 23,645 9,814 5,412 1,464 2,485 10,509 1,073 265 54,667 720-759 7,842 3,083 1,980 642 1,137 6,277 646 238 21,845 680-719 1,986 876 645 283 501 3,682 393 206 8,572 640-679 449 233 187 89 129 1,851 188 146 3,272 600-639 101 63 46 31 41 1,035 102 89 1,508 < 600 15 13 24 19 41 1,083 114 124 1,433 No FICO available 161 162 117 65 95 1,598 243 359 2,800 Government insured/guaranteed loans (1) 14 134 209 349 364 12,088 — — 13,158 Total residential mortgage – first lien 70,148 41,774 25,203 8,095 14,223 75,618 5,313 1,896 242,270 Residential mortgage – junior lien 800+ — — — — — 188 5,512 1,481 7,181 760-799 — — — — — 110 2,154 828 3,092 720-759 — — — — — 130 1,462 790 2,382 680-719 — — — — — 118 881 633 1,632 640-679 — — — — — 65 325 338 728 600-639 — — — — — 39 160 208 407 < 600 — — — — — 43 164 215 422 No FICO available 28 20 31 27 22 69 334 243 774 Total residential mortgage – junior lien 28 20 31 27 22 762 10,992 4,736 16,618 Credit card 800+ — — — — — — 4,247 1 4,248 760-799 — — — — — — 6,053 7 6,060 720-759 — — — — — — 8,475 26 8,501 680-719 — — — — — — 9,136 50 9,186 640-679 — — — — — — 5,850 47 5,897 600-639 — — — — — — 2,298 31 2,329 < 600 — — — — — — 2,067 47 2,114 No FICO available — — — — — — 117 1 118 Total credit card — — — — — — 38,243 210 38,453 Auto 800+ 4,688 1,983 1,680 690 318 108 — — 9,467 760-799 4,967 2,123 1,586 586 234 87 — — 9,583 720-759 4,789 2,104 1,503 583 241 106 — — 9,326 680-719 5,005 2,282 1,441 526 218 111 — — 9,583 640-679 4,611 1,824 1,025 369 160 99 — — 8,088 600-639 3,118 1,114 617 243 117 92 — — 5,301 < 600 2,372 1,236 853 376 193 187 — — 5,217 No FICO available 16 34 12 13 9 10 — — 94 Total auto 29,566 12,700 8,717 3,386 1,490 800 — — 56,659 Other consumer 800+ 450 162 128 34 8 47 1,343 22 2,194 760-799 502 147 117 33 7 22 819 19 1,666 720-759 461 134 115 38 9 18 714 22 1,511 680-719 349 95 99 37 9 15 630 22 1,256 640-679 170 44 55 21 6 8 328 17 649 600-639 42 13 19 9 3 4 117 9 216 < 600 18 12 22 11 3 5 114 12 197 No FICO available 235 113 155 23 62 10 1,236 36 1,870 FICO not required — — — — — — 18,715 — 18,715 Total other consumer 2,227 720 710 206 107 129 24,016 159 28,274 Total consumer loans $ 101,969 55,214 34,661 11,714 15,842 77,309 78,564 7,001 382,274 (1) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. LTV refers to the ratio comparing the loan’s unpaid principal balance to the property’s collateral value. Combined LTV (CLTV) refers to the combination of first lien mortgage and junior lien mortgage (including unused line amounts for credit line products) ratios. We obtain LTVs and CLTVs 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. Generally, we obtain available LTVs and CLTVs on a quarterly basis. Certain loans do not have an LTV or CLTV due to a lack of industry data availability and portfolios acquired from or serviced by other institutions. Table 4.11 shows the most updated LTV and CLTV distribution of the residential mortgage – first lien and residential mortgage – junior lien loan portfolios. Table 4.11: Consumer Loan Categories by LTV/CLTV and Vintage Term loans by origination year Revolving loans Revolving loans converted to term loans (in millions) 2022 2021 2020 2019 2018 Prior Total June 30, 2022 Residential mortgage – first lien By LTV: 0-60% $ 11,784 34,740 29,463 17,236 5,325 62,930 3,859 1,959 167,296 60.01-80% 23,853 31,942 8,858 4,411 1,165 3,773 322 129 74,453 80.01-100% 765 555 124 127 51 125 50 24 1,821 100.01-120% (1) — 16 13 5 2 18 7 2 63 > 120% (1) — 10 4 6 — 16 6 2 44 No LTV available 38 116 84 59 31 210 37 11 586 Government insured/guaranteed loans (2) 1 41 128 146 220 8,142 — — 8,678 Total residential mortgage – first lien 36,441 67,420 38,674 21,990 6,794 75,214 4,281 2,127 252,941 Residential mortgage – junior lien By CLTV: 0-60% — — — — — 458 7,514 4,122 12,094 60.01-80% — — — — — 98 1,173 649 1,920 80.01-100% — — — — — 23 187 116 326 100.01-120% (1) — — — — — 4 26 16 46 > 120% (1) — — — — — 1 9 7 17 No CLTV available 12 31 18 25 22 50 17 26 201 Total residential mortgage – junior lien 12 31 18 25 22 634 8,926 4,936 14,604 Total $ 36,453 67,451 38,692 22,015 6,816 75,848 13,207 7,063 267,545 Term loans by origination year Revolving loans Revolving loans converted to term loans 2021 2020 2019 2018 2017 Prior Total December 31, 2021 Residential mortgage – first lien By LTV: 0-60% $ 26,618 22,882 16,063 5,310 11,030 57,880 4,348 1,644 145,775 60.01-80% 42,893 18,188 8,356 2,234 2,647 5,017 674 188 80,197 80.01-100% 486 437 474 147 134 339 157 42 2,216 100.01-120% (1) 10 31 24 11 7 48 33 8 172 > 120% (1) 5 10 10 4 3 35 14 3 84 No LTV available 122 92 67 40 38 211 87 11 668 Government insured/guaranteed loans (2) 14 134 209 349 364 12,088 — — 13,158 Total residential mortgage – first lien 70,148 41,774 25,203 8,095 14,223 75,618 5,313 1,896 242,270 Residential mortgage – junior lien By CLTV: 0-60% — — — — — 475 7,949 3,588 12,012 60.01-80% — — — — — 172 2,329 823 3,324 80.01-100% — — — — — 55 554 241 850 100.01-120% (1) — — — — — 13 104 42 159 > 120% (1) — — — — — 3 35 13 51 No CLTV available 28 20 31 27 22 44 21 29 222 Total residential mortgage – junior lien 28 20 31 27 22 762 10,992 4,736 16,618 Total $ 70,176 41,794 25,234 8,122 14,245 76,380 16,305 6,632 258,888 (1) Reflects total loan balances with LTV/CLTV amounts in excess of 100%. In the event of default, the loss content would generally be limited to only the amount in excess of 100% LTV/CLTV. (2) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. NONACCRUAL LOANS Table 4.12 provides loans on nonaccrual status. Nonaccrual loans may have an ACL or a negative allowance for credit losses from expected recoveries of amounts previously written off. Customer payment deferral activities in the residential mortgage portfolio instituted in response to the COVID-19 pandemic could continue to delay the recognition of nonaccrual loans for those residential mortgage customers who would have otherwise moved into nonaccrual status. Table 4.12: Nonaccrual Loans Amortized cost Recognized interest income Nonaccrual loans Nonaccrual loans without related allowance for credit losses (1) Six months ended June 30, (in millions) Jun 30, Dec 31, Jun 30, Dec 31, 2022 2021 Commercial: Commercial and industrial $ 722 980 212 190 41 45 Real estate mortgage 898 1,235 39 66 28 33 Real estate construction 3 13 1 5 — 1 Lease financing 96 148 — 9 — — Total commercial 1,719 2,376 252 270 69 79 Consumer: Residential mortgage- first lien 3,322 3,803 2,380 2,722 83 56 Residential mortgage- junior lien 729 801 509 497 28 25 Auto 188 198 — — 14 17 Other consumer 35 34 — — 2 1 Total consumer 4,274 4,836 2,889 3,219 127 99 Total nonaccrual loans $ 5,993 7,212 3,141 3,489 196 178 (1) Nonaccrual loans may not have an allowance for credit losses if the loss expectations are zero given solid collateral value. 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 $946 million and $694 million at June 30, 2022, and December 31, 2021, respectively, which included $781 million and $583 million, respectively, of loans that are government insured/guaranteed. Under the Consumer Financial Protection Bureau guidelines, we do not commence the foreclosure process on residential 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 stat |
Leasing Activity
Leasing Activity | 6 Months Ended |
Jun. 30, 2022 | |
Leases [Abstract] | |
Leasing Activity | Note 5: Leasing Activity The information below provides a summary of our leasing activities as a lessor and lessee. See Note 5 (Leasing Activity) in our 2021 Form 10-K for additional information about our leasing activities. As a Lessor Noninterest income on leases, included in Table 5.1, is included in other noninterest income on our consolidated statement of income. Lease expense, included in other noninterest expense on our consolidated statement of income, was $185 million and $226 million for the quarters ended June 30, 2022 and 2021, respectively, and $373 million and $452 million for the first half of 2022 and 2021, respectively. Table 5.1: Leasing Revenue Quarter ended June 30, Six months ended June 30, (in millions) 2022 2021 2022 2021 Interest income on lease financing $ 152 172 $ 304 353 Other lease revenue: Variable revenue on lease financing 27 25 57 51 Fixed revenue on operating leases 242 254 487 514 Variable revenue on operating leases 14 18 29 36 Other lease-related revenue (1) 50 16 87 27 Noninterest income on leases 333 313 660 628 Total leasing revenue $ 485 485 $ 964 981 (1) Predominantly includes net gains (losses) on disposition of assets leased under operating leases or lease financings. As a Lessee Substantially all of our leases are operating leases. Table 5.2 presents balances for our operating leases. Table 5.2: Operating Lease Right-of-Use (ROU) Assets and Lease Liabilities (in millions) Jun 30, 2022 Dec 31, 2021 ROU assets $ 3,835 3,805 Lease liabilities 4,458 4,476 Table 5.3 provides the composition of our lease costs, which are predominantly included in net occupancy expense. Table 5.3: Lease Costs Quarter ended June 30, Six months ended June 30, (in millions) 2022 2021 2022 2021 Fixed lease expense – operating leases $ 253 265 $ 506 530 Variable lease expense 70 69 143 147 Other (1) (8) (28) (18) (31) Total lease costs $ 315 306 $ 631 646 |
Equity Securities
Equity Securities | 6 Months Ended |
Jun. 30, 2022 | |
Equity Securities [Abstract] | |
Equity Securities | Note 6: Equity Securities Table 6.1 provides a summary of our equity securities by business purpose and accounting method. Table 6.1: Equity Securities (in millions) Jun 30, Dec 31, Held for trading at fair value: Marketable equity securities (1) $ 16,640 27,476 Nonmarketable equity securities (2)(3) 9,290 — Total equity securities held for trading 25,930 27,476 Not held for trading: Fair value: Marketable equity securities 1,625 2,578 Nonmarketable equity securities (2) 98 9,044 Total equity securities not held for trading at fair value 1,723 11,622 Equity method: Private equity 2,918 3,077 Tax-advantaged renewable energy 4,949 4,740 New market tax credit and other 362 379 Total equity method 8,229 8,196 Other methods: Low-income housing tax credit investments 12,341 12,314 Private equity (4) 9,969 9,694 Federal Reserve Bank stock and other at cost (5) 3,582 3,584 Total equity securities not held for trading 35,844 45,410 Total equity securities $ 61,774 72,886 (1) Represents securities held as part of our customer accommodation trading activities. For additional information on these activities, see Note 2 (Trading Activities). (2) In first quarter 2022, we prospectively reclassified certain equity securities and related economic hedge derivatives from “not held for trading activities” to “held for trading activities” to better reflect the business activity of those financial instruments. For additional information on Trading Activities, see Note 1 (Summary of Significant Accounting Policies) in our 2021 Form 10-K. (3) Represents securities economically hedged with equity derivatives. (4) Represents nonmarketable equity securities accounted for under the measurement alternative, which were predominantly securities associated with our affiliated venture capital business. (5) Substantially all relates to investments in Federal Reserve Bank stock at both June 30, 2022, and December 31, 2021. Net Gains and Losses Not Held for Trading Table 6.2 provides a summary of the net gains and losses from equity securities not held for trading, which excludes equity method adjustments for our share of the investee’s earnings or losses that are recognized in other noninterest income. Gains and losses for securities held for trading are reported in net gains from trading and securities. Table 6.2: Net Gains (Losses) from Equity Securities Not Held for Trading Quarter ended June 30, Six months ended June 30, (in millions) 2022 2021 2022 2021 Net gains (losses) from equity securities carried at fair value: Marketable equity securities $ (226) 74 $ (228) 134 Nonmarketable equity securities (1) (16) 893 (38) 535 Total equity securities carried at fair value (242) 967 (266) 669 Net gains (losses) from nonmarketable equity securities not carried at fair value (2): Impairment write-downs (576) (42) (1,014) (57) Net unrealized gains (3) 144 2,037 834 2,262 Net realized gains from sale 59 496 407 551 Total nonmarketable equity securities not carried at fair value (373) 2,491 227 2,756 Net gains (losses) from economic hedge derivatives (1) — (762) — (337) Total net gains (losses) from equity securities not held for trading $ (615) 2,696 $ (39) 3,088 (1) In first quarter 2022, we prospectively reclassified certain equity securities and related economic hedge derivatives from “not held for trading activities” to “held for trading activities” to better reflect the business activity of those financial instruments. For additional information on Trading Activities, see Note 1 (Summary of Significant Accounting Policies) in our 2021 Form 10-K. (2) Includes amounts related to private equity and venture capital investments in consolidated portfolio companies, which are not reported in equity securities on our consolidated balance sheet. (3) Includes unrealized gains (losses) due to observable price changes from equity securities accounted for under the measurement alternative. Measurement Alternative Table 6.3 provides additional information about the impairment write-downs and observable price changes from nonmarketable equity securities accounted for under the measurement alternative. Gains and losses related to these adjustments are also included in Table 6.2. Table 6.3: Net Gains (Losses) from Measurement Alternative Equity Securities Quarter ended June 30, Six months ended June 30, (in millions) 2022 2021 2022 2021 Net gains (losses) recognized in earnings during the period: Gross unrealized gains from observable price changes $ 144 2,037 $ 834 2,262 Impairment write-downs (549) (38) (944) (50) Net realized gains from sale 45 195 78 195 Total net gains (losses) recognized during the period $ (360) $ 2,194 $ (32) 2,407 Table 6.4 presents cumulative carrying value adjustments to nonmarketable equity securities accounted for under the measurement alternative that were still held at the end of each reporting period presented. Table 6.4: Measurement Alternative Cumulative Gains (Losses) (in millions) Jun 30, Dec 31, Cumulative gains (losses): Gross unrealized gains from observable price changes $ 6,994 6,278 Gross unrealized losses from observable price changes (3) (3) Impairment write-downs (1,669) (821) |
Other Assets
Other Assets | 6 Months Ended |
Jun. 30, 2022 | |
Other Assets [Abstract] | |
Other Assets | Note 7: Other Assets Table 7.1 presents the components of other assets. Table 7.1: Other Assets (in millions) Jun 30, 2022 Dec 31, 2021 Corporate/bank-owned life insurance $ 20,718 20,619 Accounts receivable (1) 30,683 20,831 Interest receivable: AFS and HTM debt securities 1,372 1,360 Loans 2,275 1,950 Trading and other 418 305 Operating lease assets (lessor) 5,946 6,182 Operating lease ROU assets (lessee) 3,835 3,805 Customer relationship and other amortized intangibles 181 211 Foreclosed assets 130 112 Due from customers on acceptances 79 155 Other (2) 15,747 11,729 Total other assets $ 81,384 67,259 (1) Primarily includes derivatives clearinghouse receivables, trade date receivables, and servicer advances. (2) Primarily includes income tax receivables, prepaid expenses, and private equity and venture capital investments in consolidated portfolio companies. |
Securitizations and Variable In
Securitizations and Variable Interest Entities | 6 Months Ended |
Jun. 30, 2022 | |
Securitizations and Variable Interest Entities [Abstract] | |
Securitizations and Variable Interest Entities | Note 8: Securitizations and Variable Interest Entities Involvement with Variable Interest Entities (VIEs) In the normal course of business, we enter into various types of on- and off-balance sheet transactions with special purpose entities (SPEs), which are corporations, trusts, limited liability companies or partnerships that are established for a limited purpose. SPEs are often formed in connection with securitization transactions whereby financial assets are transferred to an SPE. SPEs formed in connection with securitization transactions are generally considered variable interest entities (VIEs). The VIE 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. When we transfer financial assets from our consolidated balance sheet to a VIE in connection with a securitization, we typically receive cash and sometimes other interests in the VIE as proceeds for the assets we transfer. In certain transactions with VIEs, we may retain the right to service the transferred assets and repurchase the transferred assets if the outstanding balance of the assets falls below the level at which the cost to service the assets exceed the benefits. In addition, we may purchase the right to service loans transferred to a VIE by a third party. In connection with our securitization or other VIE activities, we have various forms of ongoing involvement with VIEs, which may include: • underwriting securities issued by VIEs and subsequently making markets in those securities; • providing credit enhancement on securities issued by VIEs through the use of letters of credit or financial guarantees; • entering into other derivative contracts with VIEs; • holding senior or subordinated interests in VIEs; • acting as servicer or investment manager for VIEs; • providing administrative or trustee services to VIEs; and • providing seller financing to VIEs. 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. MORTGAGE LOANS SOLD TO U.S. GOVERNMENT SPONSORED ENTITIES AND TRANSACTIONS WITH GINNIE MAE In the normal course of business we sell originated and purchased residential and commercial mortgage loans to government-sponsored entities (GSEs). These loans are generally transferred into securitizations sponsored by the GSEs, which provide certain credit guarantees to investors and servicers. We also transfer mortgage loans into securitizations pursuant to Government National Mortgage Association (GNMA) guidelines which are insured by the Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA). Mortgage loans eligible for securitization with the GSEs or GNMA are considered conforming loans. The GSEs or GNMA design the structure of these securitizations, sponsor the involved VIEs, and have power over the activities most significant to the VIE. We account for loans transferred in conforming mortgage loan securitization transactions as sales and do not consolidate the VIEs as we are not the primary beneficiary. In exchange for the transfer of loans, we typically receive securities issued by the VIEs which we sell to third parties for cash or hold for investment purposes as HTM or AFS securities. We also retain servicing rights on the transferred loans. As a servicer, we retain the option to repurchase loans from GNMA loan securitization pools, which becomes exercisable when three scheduled loan payments remain unpaid by the borrower. We repurchased loans of $564 million and $1.5 billion, during the second quarter and first half of 2022, respectively, and $1.0 billion and $2.9 billion during the second quarter and first half of 2021, respectively, which predominantly represented repurchases of government insured loans. We recorded assets and related liabilities of $216 million and $107 million at June 30, 2022, and December 31, 2021, respectively, where we did not exercise our option to repurchase eligible loans. Upon transfers of loans, we also provide indemnification for losses incurred due to material breaches of contractual representations and warranties, as well as other recourse arrangements. At June 30, 2022, and December 31, 2021, our liability for these repurchase and recourse arrangements was $160 million and $173 million, respectively, and the maximum exposure to loss was $13.4 billion and $13.3 billion at June 30, 2022 and December 31, 2021, respectively. Loans serviced for others presented in Table 8.3 are predominantly loans securitized by the GSEs and GNMA. See Note 9 (Mortgage Banking Activities) for additional information about residential and commercial servicing rights, advances and servicing fees. Substantially all residential servicing activity is related to assets transferred to GSE and GNMA securitizations. NONCONFORMING MORTGAGE LOAN SECURITIZATIONS In the normal course of business, we sell nonconforming residential and commercial mortgage loans in securitization transactions that we design and sponsor. Nonconforming mortgage loan securitizations do not involve a government credit guarantee, and accordingly, beneficial interest holders are subject to credit risk of the underlying assets held by the securitization VIE. We typically originate the transferred loans, account for the transfers as sales and do not consolidate the VIE. We also typically retain the right to service the loans and may hold other beneficial interests issued by the VIEs, such as debt securities held for investment purposes. Our servicing role related to nonconforming commercial mortgage loan securitizations is limited to primary or master servicer and the most significant decisions impacting the performance of the VIE are generally made by the special servicer or the controlling class security holder. For our residential nonconforming mortgage loan securitizations accounted for as sales, we either do not hold variable interests that we consider potentially significant or are not the primary servicer for a majority of the VIE assets. WHOLE LOAN SALE TRANSACTIONS We also sell whole loans to VIEs where we have continuing involvement in the form of financing. We account for these transfers as sales, and do not consolidate the VIEs as we do not have the power to direct the most significant activities of the VIEs. Table 8.1 presents information about transfers of assets during the periods presented for which we recorded the transfers as sales and have continuing involvement with the transferred assets. In connection with these transfers, we received proceeds and recorded servicing assets, securities, and loans. Each of these interests are initially measured at fair value. Servicing rights are classified as Level 3 measurements, and generally securities are classified as Level 2. Substantially all transfers were related to residential mortgage securitizations with the GSEs or GNMA and resulted in no gain or loss because the loans are measured at fair value on a recurring basis. Additionally, we may transfer certain government insured loans that we previously repurchased. These loans are carried at the lower of cost or market, and we recognize gains on such transfers when the market value is greater than the carrying value of the loan when it is sold. Table 8.1: Transfers with Continuing Involvement 2022 2021 (in millions) Residential mortgages Commercial mortgages Residential mortgages Commercial mortgages Quarter ended June 30, Assets sold $ 23,817 4,345 45,903 5,173 Proceeds from transfer (1) 23,817 4,411 46,230 5,227 Net gains (losses) on sale — 66 327 54 Continuing involvement (2): Servicing rights recognized $ 313 41 487 24 Securities recognized (3) 475 33 6,171 39 Loans recognized — — — — Six months ended June 30, Assets sold $ 49,991 8,378 86,489 8,364 Proceeds from transfer (1) 50,043 8,508 86,921 8,509 Net gains (losses) on sale 52 130 432 145 Continuing involvement (2): Servicing rights recognized $ 640 70 894 71 Securities recognized (3) 2,062 137 16,394 68 Loans recognized — — 926 — (1) Represents cash proceeds and the fair value of non-cash beneficial interests recognized at securitization settlement. (2) Represents assets or liabilities recognized at securitization settlement date related to our continuing involvement in the transferred assets. (3) Represents debt securities obtained at securitization settlement held for investment purposes that are classified as available-for-sale or held-to-maturity, which predominantly relate to agency securities. Excludes trading debt securities held temporarily for market-marking purposes, which are sold to third parties at or shortly after securitization settlement, of $3.6 billion and $10.3 billion during the second quarter and first half of 2022, respectively, and $11.2 billion and $18.0 billion during the second quarter and first half of 2021, respectively. In the normal course of business we purchase certain non-agency securities at initial securitization or subsequently in the secondary market, which we hold for investment. We also provide seller financing in the form of loans. We received cash flows of $168 million and $304 million during the second quarter and first half of 2022, respectively, and $386 million and $461 million during the second quarter and first half of 2021, respectively, related to principal and interest payments on these securities and loans, which exclude cash flows related to trading activities and to the sale of our student loan portfolio. Table 8.2 presents the key weighted-average assumptions we used to initially measure residential MSRs recognized during the periods presented. Table 8.2: Residential Mortgage Servicing Rights 2022 2021 Quarter ended June 30, Prepayment rate (1) 10.9 % 13.4 Discount rate 8.0 6.1 Cost to service ($ per loan) $ 122 91 Six months ended June 30, Prepayment rate (1) 11.0 % 13.8 Discount rate 7.5 6.0 Cost to service ($ per loan) $ 117 87 (1) 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. See Note 15 (Fair Values of Assets and Liabilities) and Note 9 (Mortgage Banking Activities) for additional information on key economic assumptions for residential MSRs. RESECURITIZATION ACTIVITIES We enter into resecuritization transactions as part of our trading activities to accommodate the investment and risk management activities of our customers. In resecuritization transactions, we transfer trading debt securities to VIEs in exchange for new beneficial interests that are sold to third parties at or shortly after securitization settlement. This activity is performed for customers seeking a specific return or risk profile. Substantially all of our transactions involve the resecuritization of conforming mortgage-backed securities issued by the GSEs or GNMA. We do not consolidate the resecuritization VIEs as we share in the decision-making power with third parties and do not hold significant economic interests in the VIEs other than for market-making activities. We transferred $12.6 billion and $25.3 billion of securities to re-securitization VIEs during the six months ended June 30, 2022 and 2021, respectively. These amounts are not included in Table 8.1. Related total VIE assets were $117.2 billion and $117.7 billion at June 30, 2022 and December 31, 2021, respectively. As of June 30, 2022 and December 31, 2021 we held $951 million and $817 million of securities, respectively. $525 million and $915 million of these securities related to resecuritizations transacted during the six months ended June 30, 2022 and 2021, respectively. Loans Serviced for Others Table 8.3 presents information about loans that we sold or securitized in which we have ongoing involvement as servicer. These are primarily residential mortgage loans sold to the GSEs or GNMA. 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 generally experience a loss only 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 8.3: Loans Serviced for Others Net charge-offs (2) Total loans Delinquent loans and foreclosed assets (1) Six months ended June 30, (in millions) Jun 30, 2022 Dec 31, 2021 Jun 30, 2022 Dec 31, 2021 2022 2021 Commercial $ 122,696 120,962 1,217 1,923 22 122 Residential 673,797 690,813 6,623 10,714 7 12 Total off-balance sheet sold or securitized loans (3) $ 796,493 811,775 7,840 12,637 29 134 (1) Includes $370 million and $403 million of commercial foreclosed assets and $133 million and $129 million of residential foreclosed assets at June 30, 2022 and December 31, 2021, respectively. (2) Net charge-offs exclude loans sold to Federal National Mortgage Association (FNMA), Federal Home Loan Mortgage Corporation (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. (3) At June 30, 2022 and December 31, 2021, the table includes total loans of $719.4 billion and $736.8 billion, delinquent loans of $6.1 billion and $10.2 billion, and foreclosed assets of $104 million and $100 million, respectively, for FNMA, FHLMC and GNMA. Transactions with Unconsolidated VIEs MORTGAGE LOAN SECURITIZATIONS Table 8.4 includes nonconforming mortgage loan securitizations where we originate and transfer the loans to the unconsolidated securitization VIEs that we sponsor. For additional information about these VIEs, see the “Loan Sales and Securitization Activity” section within this Note. Nonconforming mortgage loan securitizations also include commercial mortgage loan securitizations sponsored by third parties where we did not originate or transfer the loans but serve as master servicer and invest in securities that could be potentially significant to the VIE. Conforming loan securitization and resecuritization transactions involving the GSEs and GNMA are excluded from Table 8.4 because we are not the sponsor or we do not have power over the activities most significant to the VIEs. Additionally, due to the nature of the guarantees provided by the GSEs and the FHA and VA, our credit risk associated with these VIEs is limited. For additional information about conforming mortgage loan securitizations and resecuritizations, see the “Loan Sales and Securitization Activity” and “Resecuritization Activities” sections within this Note. TAX CREDIT STRUCTURES We co-sponsor and make investments in affordable housing 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. COMMERCIAL REAL ESTATE LOANS We may transfer purchased industrial development bonds and GSE credit enhancements to VIEs in exchange for beneficial interests. We may also acquire such beneficial interests in transactions where we do not act as a transferor. We own all of the beneficial interests and may also service the underlying mortgages that serve as collateral to the bonds. OTHER VIE STRUCTURES We engage in various forms of structured finance arrangements with other VIEs, including asset-backed finance structures and other securitizations collateralized by asset classes other than mortgages. Collateral may include rental properties, asset-backed securities, student loans and mortgage loans. We may participate in structuring or marketing the arrangements, as well as provide financing, service one or more of the underlying assets, or enter into derivatives with the VIEs. We may also receive fees for those services. We are not the primary beneficiary of these structures because we do not have power to direct the most significant activities of the VIEs. Table 8.4 provides a summary of our exposure to the unconsolidated VIEs described above, which includes investments in securities, loans, guarantees, liquidity agreements, commitments and certain derivatives. We exclude certain transactions with unconsolidated VIEs when our continuing involvement is temporary or administrative in nature or insignificant in size. In Table 8.4, “Total VIE assets” represents the remaining principal balance of assets held by unconsolidated VIEs using the most current information available. “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. Debt, 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. “Maximum exposure to loss” 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. Table 8.4: Unconsolidated VIEs Carrying value – asset (liability) (in millions) Total Loans Debt Equity securities All other Debt and other liabilities Net assets June 30, 2022 Nonconforming mortgage loan securitizations $ 153,132 — 2,610 — 676 (6) 3,280 Tax credit structures 45,838 1,839 — 12,348 — (4,862) 9,325 Commercial real estate loans 5,475 5,464 — — 11 — 5,475 Other 2,564 376 1 42 29 — 448 Total $ 207,009 7,679 2,611 12,390 716 (4,868) 18,528 Maximum exposure to loss Loans Debt Equity securities All other Debt, guarantees, Total exposure Nonconforming mortgage loan securitizations $ — 2,610 — 676 6 3,292 Tax credit structures 1,839 — 12,348 — 3,993 18,180 Commercial real estate loans 5,464 — — 11 707 6,182 Other 376 1 42 29 229 677 Total $ 7,679 2,611 12,390 716 4,935 28,331 Carrying value – asset (liability) (in millions) Total Loans Debt Equity All other Debt and other liabilities Net assets December 31, 2021 Nonconforming mortgage loan securitizations $ 146,482 — 2,620 — 694 — 3,314 Tax credit structures 44,528 1,904 — 12,322 — (4,941) 9,285 Commercial real estate loans 5,489 5,481 — — 8 — 5,489 Other 3,196 531 3 62 49 (1) 644 Total $ 199,695 7,916 2,623 12,384 751 (4,942) 18,732 Maximum exposure to loss Loans Debt Equity All other Debt, Total exposure Nonconforming mortgage loan securitizations $ — 2,620 — 694 27 3,341 Tax credit structures 1,904 — 12,322 — 3,730 17,956 Commercial real estate loans 5,481 — — 8 710 6,199 Other 531 3 62 49 229 874 Total $ 7,916 2,623 12,384 751 4,696 28,370 (1) Includes $196 million and $352 million of securities classified as trading at June 30, 2022 and December 31, 2021, respectively. (2) All other assets includes mortgage servicing rights, derivative assets, and other assets (predominantly servicing advances). Consolidated VIEs We consolidate VIEs where we are the primary beneficiary. We are the primary beneficiary of the following structure types: COMMERCIAL AND INDUSTRIAL LOANS AND LEASES We securitize dealer floor plan loans and leases in a revolving master trust entity and hold the subordinated notes and residual equity interests. As servicer and residual interest holder, we control the key decisions of the trust and consolidate the entity. The total VIE assets held by the master trust represent a majority of the total VIE assets presented for this category in Table 8.5. In a separate transaction structure, 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. OTHER VIE STRUCTURES Other VIEs are primarily related to municipal tender option bond (MTOB) transactions. MTOBs are vehicles to finance the purchase of municipal bonds through the issuance of short-term debt to investors. Our involvement with MTOBs includes serving as the residual interest holder, which provides control over the key decisions of the VIE, as well as the remarketing agent or liquidity provider related to the debt issued to investors. We may also securitize nonconforming mortgage loans, in which our involvement includes servicer of the underlying assets and holder of subordinate or senior securities issued by the VIE. During second quarter 2022, we purchased the outstanding mortgage loans from the VIEs and extinguished the related debt associated with such securitizations. Table 8.5 presents a summary of financial assets and liabilities of our consolidated VIEs. The carrying value represents assets and liabilities recorded on our consolidated balance sheet. 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.” On our consolidated balance sheet, we separately disclose (1) the consolidated assets of certain VIEs that can only be used to settle the liabilities of those VIEs, and (2) the consolidated liabilities of certain VIEs for which the VIE creditors do not have recourse to Wells Fargo. Table 8.5: Transactions with Consolidated VIEs Carrying value – asset (liability) (in millions) Total Loans Debt All other Long-term debt All other liabilities (2) June 30, 2022 Commercial and industrial loans and leases $ 6,999 4,471 — 166 — (170) Other 72 — 71 1 — (71) Total consolidated VIEs $ 7,071 4,471 71 167 — (241) December 31, 2021 Commercial and industrial loans and leases $ 7,013 4,099 — 231 — (188) Other 516 377 71 3 (149) (71) Total consolidated VIEs $ 7,529 4,476 71 234 (149) (259) (1) All other assets includes cash and due from banks, interest-earning deposits with banks, derivative assets, equity securities, and other assets. (2) All other liabilities includes short-term borrowings, derivative liabilities, and accrued expenses and other liabilities. |
Mortgage Banking Activities
Mortgage Banking Activities | 6 Months Ended |
Jun. 30, 2022 | |
Mortgage Banking Activities [Abstract] | |
Mortgage Banking Activities | Note 9: Mortgage Banking Activities Mortgage banking activities consist of residential and commercial mortgage originations, sales and servicing. We apply the amortization method to commercial MSRs and apply the fair value method to residential MSRs. The amortized cost of commercial MSRs was $1.2 billion and $1.3 billion, with an estimated fair value of $2.1 billion and $1.5 billion, at June 30, 2022 and 2021, respectively. Table 9.1 presents the changes in MSRs measured using the fair value method. Table 9.1: Analysis of Changes in Fair Value MSRs Quarter ended June 30, Six months ended June 30, (in millions) 2022 2021 2022 2021 Fair value, beginning of period $ 8,511 7,536 $ 6,920 6,125 Servicing from securitizations or asset transfers (1) 322 485 664 891 Sales and other (2) (251) (7) (250) (8) Net additions 71 478 414 883 Changes in fair value: Due to valuation inputs or assumptions: Mortgage interest rates (3) 949 (529) 2,648 1,101 Servicing and foreclosure costs (4) (9) — (12) 9 Discount rates 31 160 86 207 Prepayment estimates and other (5) (103) (440) (249) (535) Net changes in valuation inputs or assumptions 868 (809) 2,473 782 Changes due to collection/realization of expected cash flows (6) (287) (488) (644) (1,073) Total changes in fair value 581 (1,297) 1,829 (291) Fair value, end of period $ 9,163 6,717 $ 9,163 6,717 (1) Includes impacts associated with exercising cleanup calls on securitizations and our right to repurchase delinquent loans from GNMA loan securitization pools. 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 in MSRs if related to portfolios with servicing liabilities. In second quarter 2022, MSRs decreased $244 million due to the sale of interest-only strips related to excess servicing cash flows from agency residential mortgage backed securitizations. (3) Includes prepayment rate changes as well as other valuation changes due to changes in mortgage interest rates. (4) Includes costs to service and unreimbursed foreclosure costs. (5) Represents other changes in valuation model inputs or assumptions including prepayment rate estimation changes that are independent of mortgage interest rate changes. (6) Represents the reduction in the MSR fair value for the cash flows expected to be collected during the period, net of income accreted due to the passage of time. Table 9.2 provides key economic assumptions and sensitivity of the current fair value of residential MSRs to immediate adverse changes in those assumptions. Amounts for residential MSRs include purchased servicing rights as well as servicing rights resulting from the transfer of loans. See Note 15 (Fair Values of Assets and Liabilities) for additional information on key economic assumptions for residential MSRs. Table 9.2: Economic Assumptions and Sensitivity of Residential MSRs ($ in millions, except cost to service amounts) Jun 30, 2022 Dec 31, 2021 Fair value of interests held $ 9,163 6,920 Expected weighted-average life (in years) 6.2 4.7 Key economic assumptions: Prepayment rate assumption (1) 9.7 % 14.7 Impact on fair value from 10% adverse change $ 319 356 Impact on fair value from 25% adverse change 759 834 Discount rate assumption 8.1 % 6.4 Impact on fair value from 100 basis point increase $ 367 276 Impact on fair value from 200 basis point increase 704 529 Cost to service assumption ($ per loan) 100 106 Impact on fair value from 10% adverse change 177 165 Impact on fair value from 25% adverse change 442 411 (1) 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. The sensitivities in the preceding 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, which might magnify or counteract the sensitivities. We present the components of our managed servicing portfolio in Table 9.3 at unpaid principal balance for loans serviced and subserviced for others and at book value for owned loans serviced. Table 9.3: Managed Servicing Portfolio (in billions) Jun 30, 2022 Dec 31, 2021 Residential mortgage servicing: Serviced and subserviced for others $ 699 718 Owned loans serviced 274 276 Total residential servicing 973 994 Commercial mortgage servicing: Serviced and subserviced for others 595 597 Owned loans serviced 134 130 Total commercial servicing 729 727 Total managed servicing portfolio $ 1,702 1,721 Total serviced for others, excluding subserviced for others $ 1,283 1,304 MSRs as a percentage of loans serviced for others 0.81 % 0.63 Weighted average note rate (mortgage loans serviced for others) 3.89 3.82 At June 30, 2022, and December 31, 2021, we had servicer advances, net of an allowance for uncollectible amounts, of $2.6 billion and $3.2 billion, respectively. As the servicer of loans for others, we advance certain payments of principal, interest, taxes, insurance, and default-related expenses which are generally reimbursed within a short timeframe from cash flows from the trust, GSEs, insurer or borrower. The credit risk related to these advances is limited since the reimbursement is generally senior to cash payments to investors. We also advance payments of taxes and insurance for our owned loans which are collectible from the borrower. We maintain an allowance for uncollectible amounts for advances on loans serviced for others that may not be reimbursed if the payments were not made in accordance with applicable servicing agreements or if the insurance or servicing agreements contain limitations on reimbursements. Servicing advances on owned loans are charged-off when deemed uncollectible. Table 9.4 presents the components of mortgage banking noninterest income. Table 9.4: Mortgage Banking Noninterest Income Quarter ended June 30, Six months ended June 30, (in millions) 2022 2021 2022 2021 Servicing fees: Contractually specified servicing fees, late charges and ancillary fees $ 645 692 $ 1,280 1,416 Unreimbursed direct servicing costs (1) (57) (90) (81) (214) Servicing fees 588 602 1,199 1,202 Amortization (2) (64) (33) (123) (98) Changes due to collection/realization of expected cash flows (3) (A) (287) (488) (644) (1,073) Net servicing fees 237 81 432 31 Changes in fair value of MSRs due to valuation inputs or assumptions (4) (B) 868 (809) 2,473 782 Net derivative gains (losses) from economic hedges (5) (980) 707 (2,626) (933) Market-related valuation changes to MSRs, net of hedge results (112) (102) (153) (151) Total net servicing income 125 (21) 279 (120) Net gains on mortgage loan originations/sales (6) 162 1,357 701 2,782 Total mortgage banking noninterest income $ 287 1,336 $ 980 2,662 Total changes in fair value of MSRs carried at fair value (A)+(B) $ 581 (1,297) $ 1,829 (291) (1) Includes costs associated with foreclosures, unreimbursed interest advances to investors, and other interest costs. (2) There was no reversal of impairment on the commercial amortized MSRs in second quarter 2022, and $4 million in the first half of 2022, compared with $37 million reversal of impairment in the second quarter and first half of 2021. (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) Refer to the analysis of changes in fair value MSRs presented in Table 9.1 in this Note for more detail. (5) See Note 14 (Derivatives) for additional discussion and detail on economic hedges. (6) Includes net gains (losses) of $710 million and $2.0 billion in the second quarter and first half of 2022, respectively, and $(420) million and $845 million in the second quarter and first half of 2021, respectively, related to derivatives used as economic hedges of mortgage loans held for sale and derivative loan commitments. |
Intangible Assets
Intangible Assets | 6 Months Ended |
Jun. 30, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | Note 10: Intangible Assets Table 10.1 presents the gross carrying value of intangible assets and accumulated amortization. Table 10.1: Intangible Assets June 30, 2022 December 31, 2021 (in millions) Gross carrying value Accumulated amortization Net carrying value Gross carrying value Accumulated amortization Net carrying value Amortized intangible assets (1): MSRs (2) $ 4,872 (3,649) 1,223 4,794 (3,525) 1,269 Customer relationship and other intangibles 754 (573) 181 842 (631) 211 Total amortized intangible assets $ 5,626 (4,222) 1,404 5,636 (4,156) 1,480 Unamortized intangible assets: MSRs (carried at fair value) $ 9,163 6,920 Goodwill 25,178 25,180 (1) Balances are excluded commencing in the period following full amortization. (2) Includes a $4 million valuation allowance recorded for amortized MSRs at December 31, 2021. See Note 9 (Mortgage Banking Activities) for additional information on MSRs. Table 10.2 provides the current year and estimated future amortization expense for amortized intangible assets. We based our projections of amortization expense shown below on existing asset balances at June 30, 2022. Future amortization expense may vary from these projections. Table 10.2: Amortization Expense for Intangible Assets (in millions) Amortized MSRs Customer relationship and other intangibles Total Six months ended June 30, 2022 (actual) $ 123 30 153 Estimate for the remainder of 2022 $ 123 30 153 Estimate for year ended December 31, 2023 220 51 271 2024 192 41 233 2025 169 33 202 2026 135 27 162 2027 105 — 105 Table 10.3 shows the allocation of goodwill to our reportable operating segments. Table 10.3: Goodwill (in millions) Consumer Banking and Lending Commercial Banking Corporate and Investment Banking Wealth and Investment Management Corporate Consolidated Company December 31, 2021 $ 16,418 2,938 5,375 344 105 25,180 Foreign currency translation — (2) — — — (2) June 30, 2022 $ 16,418 2,936 5,375 344 105 25,178 |
Guarantees and Other Commitment
Guarantees and Other Commitments | 6 Months Ended |
Jun. 30, 2022 | |
Guarantees [Abstract] | |
Guarantees and Other Commitments | Note 11: Guarantees 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. For additional descriptions of our guarantees, see Note 13 (Guarantees and Other Commitments) in our 2021 Form 10-K. Table 11.1 shows carrying value and maximum exposure to loss on our guarantees. Table 11.1: 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 June 30, 2022 Standby letters of credit (1) $ 111 15,024 4,797 1,901 475 22,197 6,754 Direct pay letters of credit (1) 11 1,550 2,806 366 5 4,727 1,318 Written options (2) 211 15,819 8,063 1,420 395 25,697 19,602 Loans and LHFS sold with recourse (3) 16 197 1,158 3,578 8,659 13,592 11,619 Exchange and clearing house guarantees — — — — 4,941 4,941 — Other guarantees and indemnifications (4) — 548 1 11 209 769 502 Total guarantees $ 349 33,138 16,825 7,276 14,684 71,923 39,795 December 31, 2021 Standby letters of credit (1) $ 119 13,816 5,260 1,572 460 21,108 6,939 Direct pay letters of credit (1) 6 1,597 2,137 1,283 4 5,021 1,373 Written options (2) (280) 12,107 4,575 513 36 17,231 13,645 Loans and LHFS sold with recourse (3) 20 71 943 3,610 8,650 13,274 11,268 Exchange and clearing house guarantees — — — — 8,100 8,100 — Other guarantees and indemnifications (4) — 797 2 12 263 1,074 756 Total guarantees $ (135) 28,388 12,917 6,990 17,513 65,808 33,981 (1) Standby and direct pay letters of credit are reported net of syndications and participations. (2) Written options, which are in the form of derivatives, are also included in the derivative disclosures in Note 14 (Derivatives). Carrying value net asset position is a result of certain deferred premium option trades. (3) Represents recourse provided, predominantly to the GSEs, on loans sold under various programs and arrangements. (4) Includes indemnifications provided to certain third-party clearing agents. Estimated maximum exposure to loss was $162 million and $216 million with related collateral of $1.1 billion and $2.3 billion as of June 30, 2022 and December 31, 2021, respectively. 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 11.1 do not reflect economic hedges or collateral we could use to offset or recover losses we may incur under our guarantee agreements. Accordingly, these amounts are not an indication of expected loss. We believe the carrying value is more representative of our current exposure to loss than maximum exposure to loss. The carrying value represents the fair value of the guarantee, if any, and also includes an ACL for guarantees, if applicable. In determining the ACL for guarantees, we consider the credit risk of the related contingent obligation. For our guarantees other than written options, non-investment grade represents those guarantees on which we have a higher risk of performance under the terms of the guarantee, which is determined based on an external rating or an internal credit grade that is below investment grade. For written options, non-investment grade represents those guarantees where the current intrinsic values would require us to perform under the contract. MERCHANT PROCESSING SERVICES We provide debit and credit card transaction processing services through payment networks directly for merchants and as a sponsor for merchant processing servicers, including our joint venture with a third party that is accounted for as an equity method investment. In our role as the merchant acquiring bank, we have a potential obligation in connection with payment and delivery disputes between the merchant and the cardholder that are resolved in favor of the cardholder, referred to as a charge-back transaction. We estimate our potential maximum exposure to be the total merchant transaction volume processed in the preceding four months, which is generally the lifecycle for a charge-back transaction. As of June 30, 2022, our potential maximum exposure was approximately $764.5 billion, and related losses, including those from our joint venture entity, were insignificant. GUARANTEES OF SUBSIDIARIES 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 securities are not guaranteed by any other subsidiary of the Parent. The guaranteed liabilities were $1.0 billion and $1.2 billion at June 30, 2022 and December 31, 2021, respectively. These guarantees rank on parity with all of the Parent’s other unsecured and unsubordinated indebtedness. 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 both June 30, 2022 and December 31, 2021, we had commitments to purchase debt securities of $18 million and commitments to purchase equity securities of $2.5 billion and $2.4 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 11.1 in Other guarantees and indemnifications. 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 $10.4 billion and $11.0 billion as of June 30, 2022 and December 31, 2021, respectively. Given the nature of these commitments, they are excluded from Table 4.4 (Unfunded Credit Commitments) in Note 4 (Loans and Related Allowance for Credit Losses). |
Pledged Assets and Collateral
Pledged Assets and Collateral | 6 Months Ended |
Jun. 30, 2022 | |
Transfers and Servicing [Abstract] | |
Pledged Assets and Collateral | Note 12: Pledged Assets and Collateral Pledged Assets Table 12.1 provides the carrying amount of on-balance sheet pledged assets and the fair value of other pledged collateral. Other pledged collateral is collateral we have received from third parties, have the right to repledge, have repledged and is not recognized on our consolidated balance sheet. 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. 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. All of the collateral we pledge related to trading activity is eligible to be repledged or sold by the secured party. NON-TRADING RELATED ACTIVITY As part of our liquidity management strategy, we may pledge loans, debt securities, and other financial assets to secure trust and public deposits, borrowings and letters of credit from Federal Home Loan Banks (FHLBs) and the Board of Governors of the Federal Reserve System (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. VIE RELATED We pledge assets in connection with various types of transactions entered into with VIEs. These pledged assets can only be used to settle the liabilities of those entities. We also have loans recorded on our consolidated balance sheet which represent certain delinquent loans that are eligible for repurchase from GNMA loan securitizations. See Note 8 (Securitizations and Variable Interest Entities) for additional information on consolidated VIE assets. Table 12.1: Pledged Assets (in millions) Jun 30, Dec 31, Related to trading activities: Repledged third-party owned debt and equity securities $ 34,520 31,087 Trading debt securities and other 22,788 14,216 Equity securities 1,766 984 Total pledged assets related to trading activities 59,074 46,287 Related to non-trading activities: Loans 299,258 288,698 Debt securities: Available-for-sale 64,065 65,198 Held-to-maturity 11,034 13,843 Other financial assets 42 1,600 Total pledged assets related to non-trading activities 374,399 369,339 Related to VIEs: Consolidated VIE assets 4,709 4,781 Loans eligible for repurchase from GNMA securitizations 217 109 Total pledged assets related to VIEs 4,926 4,890 Total pledged assets $ 438,399 420,516 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. Our securities financing activities primarily 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 12.2 presents resale and repurchase agreements subject to master repurchase agreements (MRA) and securities borrowing and lending agreements subject to master securities lending agreements (MSLA). Collateralized financings, and those with a single counterparty, are presented net on our consolidated balance sheet, provided certain criteria are met that permit balance sheet netting. The majority of 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 consolidated balance sheet against the related liability. Collateral we received includes securities or loans and is not recognized on our consolidated 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 12.2, we also have balance sheet netting related to derivatives that is disclosed in Note 14 (Derivatives). Table 12.2: Offsetting – Securities Financing Activities (in millions) Jun 30, Dec 31, Assets: Resale and securities borrowing agreements Gross amounts recognized $ 103,668 103,140 Gross amounts offset in consolidated balance sheet (1) (22,938) (14,074) Net amounts in consolidated balance sheet (2) 80,730 89,066 Collateral not recognized in consolidated balance sheet (3) (80,096) (88,330) Net amount (4) $ 634 736 Liabilities: Repurchase and securities lending agreements Gross amounts recognized $ 46,612 35,043 Gross amounts offset in consolidated balance sheet (1) (22,938) (14,074) Net amounts in consolidated balance sheet (5) 23,674 20,969 Collateral pledged but not netted in consolidated balance sheet (6) (23,450) (20,820) Net amount (4) $ 224 149 (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 $55.5 billion and $66.2 billion classified on our consolidated balance sheet in federal funds sold and securities purchased under resale agreements at June 30, 2022, and December 31, 2021, respectively. Also includes securities purchased under long-term resale agreements (generally one year or more) classified in loans, which totaled $25.2 billion and $22.9 billion, at June 30, 2022, and December 31, 2021, 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 June 30, 2022, and December 31, 2021, we have received total collateral with a fair value of $127.7 billion and $124.4 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 $33.2 billion and $28.8 billion at June 30, 2022, and December 31, 2021, respectively. (4) Represents the amount of our exposure (assets) or obligation (liabilities) that is not collateralized and/or is not subject to an enforceable MRA or MSLA. (5) Amount is classified in short-term borrowings on our consolidated balance sheet. (6) 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 June 30, 2022, and December 31, 2021, we have pledged total collateral with a fair value of $48.0 billion and $35.9 billion, respectively, substantially all of which may be sold or repledged by the counterparty. 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. Our collateral primarily 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 12.3 provides the gross amounts recognized on the consolidated balance sheet (before the effects of offsetting) of our liabilities for repurchase and securities lending agreements disaggregated by underlying collateral type. Table 12.3: Gross Obligations by Underlying Collateral Type (in millions) Jun 30, Dec 31, Repurchase agreements: Securities of U.S. Treasury and federal agencies $ 24,460 14,956 Securities of U.S. States and political subdivisions 60 1 Federal agency mortgage-backed securities 4,755 3,432 Non-agency mortgage-backed securities 1,056 809 Corporate debt securities 7,129 8,899 Asset-backed securities 532 358 Equity securities 564 919 Other 854 409 Total repurchases 39,410 29,783 Securities lending arrangements: Securities of U.S. Treasury and federal agencies 232 33 Federal agency mortgage-backed securities 28 17 Corporate debt securities 149 80 Equity securities (1) 6,715 5,050 Other 78 80 Total securities lending 7,202 5,260 Total repurchases and securities lending $ 46,612 35,043 (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 12.4 provides the contractual maturities of our gross obligations under repurchase and securities lending agreements. Table 12.4: Contractual Maturities of Gross Obligations (in millions) Overnight/continuous Up to 30 days 30-90 days >90 days Total gross obligation June 30, 2022 Repurchase agreements $ 26,682 5,337 1,957 5,434 39,410 Securities lending arrangements 6,752 — — 450 7,202 Total repurchases and securities lending (1) $ 33,434 5,337 1,957 5,884 46,612 December 31, 2021 Repurchase agreements $ 16,452 3,570 4,276 5,485 29,783 Securities lending arrangements 4,810 — — 450 5,260 Total repurchases and securities lending (1) $ 21,262 3,570 4,276 5,935 35,043 (1) Securities lending is executed under agreements that allow either party to terminate the transaction without notice, while repurchase agreements have a term structure to them that technically matures at a point in time. The overnight/continuous repurchase agreements require election of both parties to roll the trade rather than the election to terminate the arrangement as in securities lending. |
Legal Actions
Legal Actions | 6 Months Ended |
Jun. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Legal Actions | Note 13: 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 or other adverse consequences. 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 to or otherwise cooperate with government authorities in the conduct of investigations of other persons or industry groups. 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. There can be no assurance as to the ultimate outcome of legal actions, including the matters described below, and 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. In November 2021, the district court granted preliminary approval of an agreement pursuant to which the Company will pay $20.8 million in order to resolve the cases. 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 actions alleging, among other things, unfair and deceptive practices relating to these CPI policies, were filed against the Company and consolidated into one multi-district litigation in the United States District Court for the Central District of California. As previously disclosed, the Company entered into a settlement to resolve the multi-district litigation. Shareholders also filed a putative 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 January 2020, the court dismissed this action as to all defendants except the Company and a former executive officer and limited the action to two alleged misstatements. In addition, the Company was subject to a class action in the United States District Court for the Central District of California alleging that customers were 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. As previously disclosed, the Company entered into a settlement to resolve the class action. Allegations related to the CPI and GAP programs were among the subjects of a shareholder derivative lawsuit in the United States District Court for the Northern District of California, which has been dismissed. In addition, federal and state government agencies, including the CFPB, have undertaken formal or informal inquiries, investigations, or examinations regarding these and other issues related to the origination, servicing, and collection of consumer auto loans, including related insurance products. As previously disclosed, the Company entered into an agreement to resolve investigations by state attorneys general. COMMERCIAL LENDING SHAREHOLDER LITIGATION In October and November 2020, plaintiffs filed two putative securities fraud class actions, which were consolidated into one lawsuit pending in the United States District Court for the Northern District of California alleging that the Company and certain of its current and former officers made false and misleading statements or omissions regarding, among other things, the Company’s commercial lending underwriting practices, the credit quality of its commercial credit portfolios, and the value of its commercial loans, collateralized loan obligations and commercial mortgage-backed securities. On May 6, 2022, the district court granted defendants’ motion to dismiss the lawsuit. COMPANY 401(K) PLAN REGULATORY INVESTIGATIONS Federal government agencies, including the United States Department of Labor, are reviewing certain transactions associated with the Employee Stock Ownership Plan feature of the Company’s 401(k) plan, including the manner in which the 401(k) plan purchased certain securities used in connection with the Company’s contributions to the 401(k) plan. The Company is in resolution discussions with the Department of Labor, although there can be no assurance as to the outcome of these discussions. CONSENT ORDER DISCLOSURE LITIGATION Wells Fargo shareholders have brought a putative securities fraud class action in the United States District Court for the Southern District of New York alleging that the Company and certain of its current and former executive officers and directors made false or misleading statements regarding the Company’s efforts to comply with the February 2018 consent order with the Federal Reserve Board and the April 2018 consent orders with the CFPB and OCC. Allegations related to the Company’s efforts to comply with these three consent orders were also among the subjects of a shareholder derivative lawsuit filed in the United States District Court for the Northern District of California. On February 4, 2022, the district court granted the Company's motion to dismiss the shareholder derivative lawsuit. On April 19, 2022, shareholders filed a new derivative lawsuit in California state court making similar allegations. CONSUMER DEPOSIT ACCOUNT RELATED REGULATORY INVESTIGATIONS 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. The CFPB is also investigating certain of the Company’s past disclosures to customers regarding the minimum qualifying debit card usage required for customers to receive a waiver of monthly service fees on certain consumer deposit accounts. HIRING PRACTICES MATTERS Government agencies, including the United States Department of Justice, have undertaken formal or informal inquiries or investigations regarding the Company’s hiring practices related to diversity. A putative securities fraud class action has also been filed in the United States District Court for the Northern District of California alleging that the Company and certain of its executive officers made false or misleading statements about the Company’s hiring practices related to diversity. INTERCHANGE LITIGATION Plaintiffs representing a 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. On September 27, 2021, the district court granted the plaintiffs’ motion for class certification in the equitable relief case. Several of the opt-out and direct action litigations have been settled while others remain pending. MORTGAGE LENDING MATTERS Plaintiffs representing a class of mortgage borrowers filed separate putative class actions alleging 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. As previously disclosed, the Company entered into settlements to resolve the class actions, while the others were voluntarily dismissed. In addition, federal and state government agencies, including the CFPB, have undertaken formal or informal inquiries or investigations regarding these and other mortgage servicing matters. On September 9, 2021, the OCC assessed a $250 million civil money penalty against the Company regarding loss mitigation activities in the Company’s Home Lending business and insufficient progress in addressing requirements under the OCC’s April 2018 consent order. In addition, on September 9, 2021, the Company entered into a consent order with the OCC requiring the Company to improve the execution, risk management, and oversight of loss mitigation activities in its Home Lending business. NOMURA/NATIXIS MORTGAGE-RELATED LITIGATION In August 2014 and August 2015, Nomura Credit & Capital Inc. (Nomura) and Natixis Real Estate Holdings, LLC (Natixis) filed a total of seven third-party complaints against Wells Fargo Bank, N.A., in New York state court. In the underlying first-party actions, Nomura and Natixis have been sued for alleged breaches of representations and warranties made in connection with residential mortgage-backed securities sponsored by them. In the third-party actions, Nomura and Natixis allege that Wells Fargo, as master servicer, primary servicer or securities administrator, failed to notify Nomura and Natixis of their own breaches, failed to properly oversee the primary servicers, and failed to adhere to accepted servicing practices. Natixis additionally alleges that Wells Fargo failed to perform default oversight duties. In March 2022, Wells Fargo entered into an agreement to settle the six actions filed by Nomura, and the actions have been voluntarily dismissed. In the remaining action filed by Natixis, Wells Fargo has asserted counterclaims alleging that Natixis failed to provide Wells Fargo notice of its representation and warranty breaches. 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 has been cooperating with investigations or inquiries arising out of this matter by federal government agencies. The Company is in resolution discussions with certain of these agencies, although there can be no assurance as to the outcome of these discussions. RETAIL SALES PRACTICES MATTERS Federal and state government agencies, including the United States Department of Justice (Department of Justice) and the United States Securities and Exchange Commission (SEC), have undertaken formal or informal inquiries or investigations 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. 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 made payments totaling $3.0 billion. The Company has also entered into agreements to resolve other government agency investigations, including investigations by the state attorneys general. In addition, a number of lawsuits were filed by non-governmental parties seeking damages or other remedies related to these retail sales practices. As previously disclosed, the Company entered into various settlements to resolve these lawsuits. RMBS TRUSTEE LITIGATION In December 2014, Phoenix Light SF Limited (Phoenix Light) and certain related entities filed a complaint in the United States District Court for the Southern District of New York alleging claims against Wells Fargo Bank, N.A., in its capacity as trustee for a number of residential mortgage-backed securities (RMBS) trusts. Complaints raising similar allegations have been filed by Commerzbank AG in the Southern District of New York and by IKB International and IKB Deutsche Industriebank in New York state court. In each case, the plaintiffs allege that Wells Fargo Bank, N.A., as trustee, caused losses to investors, and plaintiffs assert 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. On July 12, 2022, the district court dismissed Phoenix Light’s claims and entered judgment in favor of Wells Fargo Bank, N.A. The district court also dismissed certain of the claims asserted by Commerzbank AG. The Company previously settled two class actions filed by institutional investors and an action filed by the National Credit Union Administration with similar allegations. In addition, Park Royal I LLC and Park Royal II LLC have filed complaints that were consolidated in New York state court alleging Wells Fargo Bank, N.A., as trustee, failed to take appropriate actions upon learning of defective mortgage loan documentation. 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. Wells Fargo filed a petition to remove the case to federal court. 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 $3.2 billion as of June 30, 2022. 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. Based on information currently available, advice of counsel, available insurance coverage, and established reserves, Wells Fargo believes that the eventual outcome of the actions against Wells Fargo and/or its subsidiaries 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 | 6 Months Ended |
Jun. 30, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives | Note 14: 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. For additional information on our derivative activities, see Note 16 (Derivatives) in our 2021 Form 10-K. Table 14.1 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 our consolidated 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 14.1: Notional or Contractual Amounts and Fair Values of Derivatives June 30, 2022 December 31, 2021 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 $ 215,814 1,142 291 153,993 2,212 327 Commodity contracts 2,251 47 3 1,739 26 3 Foreign exchange contracts 20,105 56 1,685 24,949 281 669 Total derivatives designated as qualifying hedging instruments 1,245 1,979 2,519 999 Derivatives not designated as hedging instruments Economic hedges: Interest rate contracts 89,973 200 121 142,234 40 41 Equity contracts (1) 3,883 — 338 26,263 1,493 1,194 Foreign exchange contracts 34,324 1,175 182 28,192 395 88 Credit contracts 275 15 — 290 7 — Subtotal 1,390 641 1,935 1,323 Customer accommodation trading and other derivatives: Interest rate contracts 9,931,381 29,654 30,376 7,976,534 20,286 17,435 Commodity contracts 112,758 12,884 5,757 74,903 5,939 2,414 Equity contracts (1) 388,726 13,092 10,230 321,863 16,278 17,827 Foreign exchange contracts 892,949 11,877 13,008 560,049 5,912 5,915 Credit contracts 42,677 54 38 38,318 39 43 Subtotal 67,561 59,409 48,454 43,634 Total derivatives not designated as hedging instruments 68,951 60,050 50,389 44,957 Total derivatives before netting 70,196 62,029 52,908 45,956 Netting (45,300) (44,861) (31,430) (36,532) Total $ 24,896 17,168 21,478 9,424 (1) In first quarter 2022, we prospectively reclassified certain equity securities and related economic hedge derivatives from "not held for trading activities" to "held for trading activities" to better reflect the business activity of those financial instruments. For additional information on Trading Activities, see Note 1 (Summary of Significant Accounting Policies) in our 2021 Form 10-K. Table 14.2 provides information on the fair values of derivative assets and liabilities subject to enforceable master netting arrangements, the balance sheet netting adjustments and the resulting net fair value amount recorded on our consolidated 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 our consolidated balance sheet. We determine the balance sheet netting adjustments based on the terms specified within each master netting arrangement, which are determined at the counterparty level. We do not net non-cash collateral that we receive and pledge on our consolidated balance sheet. For disclosure purposes, we present “Total Derivatives, net” which 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. 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 12 (Pledged Assets and Collateral). Table 14.2: Fair Values of Derivative Assets and Liabilities June 30, 2022 December 31, 2021 (in millions) Derivative Assets Derivative Liabilities Derivative Assets Derivative Liabilities Interest rate contracts Over-the-counter (OTC) $ 27,868 27,274 20,067 16,654 OTC cleared 1,027 1,013 168 192 Exchange traded 313 203 52 28 Total interest rate contracts 29,208 28,490 20,287 16,874 Commodity contracts OTC 10,745 2,942 5,040 1,249 Exchange traded 1,399 2,464 557 1,047 Total commodity contracts 12,144 5,406 5,597 2,296 Equity contracts OTC 5,397 5,109 6,132 9,730 Exchange traded 5,119 3,806 7,493 6,086 Total equity contracts 10,516 8,915 13,625 15,816 Foreign exchange contracts OTC 12,463 13,694 6,335 6,221 Total foreign exchange contracts 12,463 13,694 6,335 6,221 Credit contracts OTC 42 27 32 31 Total credit contracts 42 27 32 31 Total derivatives subject to enforceable master netting arrangements, gross 64,373 56,532 45,876 41,238 Less: Gross amounts offset Counterparty netting (1) (37,266) (37,217) (27,172) (27,046) Cash collateral netting (8,034) (7,644) (4,258) (9,486) Total derivatives subject to enforceable master netting arrangements, net 19,073 11,671 14,446 4,706 Derivatives not subject to enforceable master netting arrangements 5,823 5,497 7,032 4,718 Total derivatives recognized in consolidated balance sheet, net 24,896 17,168 21,478 9,424 Non-cash collateral (2,774) (981) (1,432) (412) Total Derivatives, net $ 22,122 16,187 20,046 9,012 (1) Represents amounts with counterparties subject to enforceable master netting arrangements that have been offset in our consolidated balance sheet, including portfolio level counterparty valuation adjustments related to customer accommodation and other trading derivatives. Counterparty valuation adjustments related to derivative assets were $438 million and $284 million and debit valuation adjustments related to derivative liabilities were $403 million and $158 million as of June 30, 2022, and December 31, 2021, respectively, and were primarily related to interest rate contracts. 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. We also enter into futures contracts, forward contracts, and swap contracts to hedge our exposure to the price risk of physical commodities included in Other Assets. 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. 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 (OCI). See Note 21 (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 interest-earning deposits with banks and certain floating-rate commercial loans, and interest 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 $107 million pre-tax of deferred net losses related to cash flow hedges in OCI at June 30, 2022, will be reclassified into net interest income during the next twelve months. For cash flow hedges as of June 30, 2022, we are hedging our interest rate and foreign currency exposure to the variability of future cash flows for all forecasted transactions for a maximum of 10 years. For additional information on our accounting hedges, see Note 1 (Summary of Significant Accounting Policies) in our 2021 Form 10-K. Table 14.3 and Table 14.4 show the net gains (losses) related to derivatives in fair value and cash flow hedging relationships, respectively. Table 14.3: 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 Deposits Long-term debt Other Derivative gains (losses) Derivative gains (losses) Quarter ended June 30, 2022 Total amounts presented in the consolidated statement of income and other comprehensive income $ 2,702 (158) (1,011) 554 N/A (111) Interest contracts Amounts related to interest settlements on derivatives (45) 23 336 — 314 N/A Recognized on derivatives 768 (70) (5,202) — (4,504) — Recognized on hedged items (753) 68 5,128 — 4,443 N/A Total gains (losses) (pre-tax) on interest rate contracts (30) 21 262 — 253 — Foreign exchange contracts Amounts related to interest settlements on derivatives — — (21) — (21) N/A Recognized on derivatives — — (315) (929) (1,244) 46 Recognized on hedged items — — 333 898 1,231 N/A Total gains (losses) (pre-tax) on foreign exchange contracts — — (3) (31) (34) 46 Commodity contracts Recognized on derivatives — — — 228 228 — Recognized on hedged items — — — (217) (217) N/A Total gains (losses) (pre-tax) on commodity contracts — — — 11 11 — Total gains (losses) (pre-tax) recognized on fair value hedges $ (30) 21 259 (20) 230 46 Quarter ended June 30, 2021 Total amounts presented in the consolidated statement of income and other comprehensive income $ 2,199 (92) (712) 692 N/A 37 Interest contracts Amounts related to interest settlements on derivatives (68) 74 541 — 547 N/A Recognized on derivatives (468) (61) 2,453 — 1,924 — Recognized on hedged items 452 62 (2,402) — (1,888) N/A Total gains (losses) (pre-tax) on interest rate contracts (84) 75 592 — 583 — Foreign exchange contracts Amounts related to interest settlements on derivatives 15 — 4 — 19 N/A Recognized on derivatives 2 — (42) 202 162 (14) Recognized on hedged items (1) — 44 (203) (160) N/A Total gains (losses) (pre-tax) on foreign exchange contracts 16 — 6 (1) 21 (14) Commodity contracts Recognized on derivatives — — — (38) (38) — Recognized on hedged items — — — 34 34 N/A Total gains (losses) (pre-tax) on commodity contracts — — — (4) (4) — Total gains (losses) (pre-tax) recognized on fair value hedges $ (68) 75 598 (5) 600 (14) (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 Deposits Long-term debt Other Derivative gains (losses) Derivative gains (losses) Six months ended June 30, 2022 Total amounts presented in the consolidated statement of income and other comprehensive income $ 5,265 (241) (1,772) 1,110 N/A (84) Interest contracts Amounts related to interest settlements on derivatives (86) 64 817 — 795 N/A Recognized on derivatives 2,030 (215) (12,071) — (10,256) — Recognized on hedged items (2,001) 211 11,941 — 10,151 N/A Total gains (losses) (pre-tax) on interest rate contracts (57) 60 687 — 690 — Foreign exchange contracts Amounts related to interest settlements on derivatives — — (17) — (17) N/A Recognized on derivatives — — (771) (1,171) (1,942) 110 Recognized on hedged items — — 778 1,139 1,917 N/A Total gains (losses) (pre-tax) on foreign exchange contracts — — (10) (32) (42) 110 Commodity contracts Recognized on derivatives — — — 136 136 — Recognized on hedged items — — — (130) (130) N/A Total gains (losses) (pre-tax) on commodity contracts — — — 6 6 — Total gains (losses) (pre-tax) recognized on fair value hedges $ (57) 60 677 (26) 654 110 Six months ended June 30, 2021 Total amounts presented in the consolidated statement of income and other comprehensive income $ 4,511 (204) (1,738) 1,674 N/A 84 Interest contracts Amounts related to interest settlements on derivatives (135) 165 1,091 — 1,121 N/A Recognized on derivatives 826 (184) (4,618) — (3,976) — Recognized on hedged items (806) 181 4,542 — 3,917 N/A Total gains (losses) (pre-tax) on interest rate contracts (115) 162 1,015 — 1,062 — Foreign exchange contracts Amounts related to interest settlements on derivatives 43 — 3 — 46 N/A Recognized on derivatives 3 — (269) 509 243 11 Recognized on hedged items (2) — 238 (520) (284) N/A Total gains (losses) (pre-tax) on foreign exchange contracts 44 — (28) (11) 5 11 Commodity contracts Recognized on derivatives — — — 33 33 — Recognized on hedged items — — — (37) (37) N/A Total gains (losses) (pre-tax) on commodity contracts — — — (4) (4) — Total gains (losses) (pre-tax) recognized on fair value hedges $ (71) 162 987 (15) 1,063 11 Table 14.4: Gains (Losses) Recognized on Cash Flow Hedging Relationships Net interest income Total recorded in net income Total recorded in OCI (in millions) Loans Other interest income Long-term debt Derivative gains (losses) Derivative gains (losses) Quarter ended June 30, 2022 Total amounts presented in the consolidated statement of income and other comprehensive income $ 8,116 419 (1,011) N/A (111) Interest rate contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income 11 34 — 45 (45) Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A N/A (101) Total gains (losses) (pre-tax) on interest rate contracts 11 34 — 45 (146) Foreign exchange contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income — — (2) (2) 2 Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A N/A (13) Total gains (losses) (pre-tax) on foreign exchange contracts — — (2) (2) (11) Total gains (losses) (pre-tax) recognized on cash flow hedges $ 11 34 (2) 43 (157) Quarter ended June 30, 2021 Total amounts presented in the consolidated statement of income and other comprehensive income $ 7,095 74 (712) N/A 37 Interest rate contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income (39) — — (39) 39 Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A N/A 10 Total gains (losses) (pre-tax) on interest rate contracts (39) — — (39) 49 Foreign exchange contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income — — (1) (1) 1 Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A N/A 1 Total gains (losses) (pre-tax) on foreign exchange contracts — — (1) (1) 2 Total gains (losses) (pre-tax) recognized on cash flow hedges $ (39) — (1) (40) 51 Six months ended June 30, 2022 Total amounts presented in the consolidated statement of income and other comprehensive income $ 15,334 509 (1,772) N/A (84) Interest rate contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income (5) 38 — 33 (33) Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A N/A (149) Total gains (losses) (pre-tax) on interest rate contracts (5) 38 — 33 (182) Foreign exchange contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income — — (4) (4) 4 Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A N/A (16) Total gains (losses) (pre-tax) on foreign exchange contracts — — (4) (4) (12) Total gains (losses) (pre-tax) recognized on cash flow hedges $ (5) 38 (4) 29 (194) Six months ended June 30, 2021 Total amounts presented in the consolidated statement of income and other comprehensive income $ 14,296 139 (1,738) N/A 84 Interest rate contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income (91) — — (91) 91 Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A N/A (10) Total gains (losses) (pre-tax) on interest rate contracts (91) — — (91) 81 Foreign exchange contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income — — (2) (2) 2 Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A N/A (10) Total gains (losses) (pre-tax) on foreign exchange contracts — — (2) (2) (8) Total gains (losses) (pre-tax) recognized on cash flow hedges $ (91) — (2) (93) 73 Table 14.5 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 14.5: Hedged Items in Fair Value Hedging Relationships Hedged items currently designated Hedged items no longer designated (in millions) Carrying amount of assets/(liabilities) (1)(2) Hedge accounting Carrying amount of assets/(liabilities) (2) Hedge accounting basis adjustment June 30, 2022 Available-for-sale debt securities (4) $ 42,006 (2,342) 17,405 840 Other assets 1,718 (115) — — Deposits (6,309) 68 (11) — Long-term debt (131,292) 7,547 (5) — December 31, 2021 Available-for-sale debt securities (4) $ 24,144 (559) 17,962 965 Other assets 1,156 (58) — — Deposits (10,187) (144) — — Long-term debt (138,801) (5,192) — — (1) 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 $765 million and for long-term debt is $0 million as of June 30, 2022, and $873 million for debt securities and $(2.7) billion for long-term debt as of December 31, 2021. (2) 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. (3) The balance includes $62 million and $228 million of debt securities and long-term debt cumulative basis adjustments as of June 30, 2022, respectively, and $136 million and $188 million of debt securities and long-term debt cumulative basis adjustments as of December 31, 2021, respectively, on terminated hedges whereby the hedged items have subsequently been re-designated into existing hedges. (4) 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. Changes in the fair values of derivatives used to economically hedge the deferred compensation plan are reported in personnel expense. For additional information on economic hedges and other derivatives, see Note 16 (Derivatives) in our 2021 Form 10-K. Table 14.6 shows the net gains (losses), recognized by income statement lines, related to derivatives not designated as hedging instruments. Table 14.6: Gains (Losses) on Derivatives Not Designated as Hedging Instruments Noninterest income Noninterest expense (in millions) Mortgage banking Net gains (losses) on trading and securities Other Total Personnel expense Quarter ended June 30, 2022 Net gains (losses) recognized on economic hedges derivatives: Interest contracts (1) $ (270) — (26) (296) — Equity contracts (2) — — 1 1 577 Foreign exchange contracts — — 838 838 — Credit contracts — — 2 2 — Subtotal (270) — 815 545 577 Net gains (losses) recognized on customer accommodation trading and other derivatives: Interest contracts (314) 2,791 — 2,477 — Commodity contracts — 104 — 104 — Equity contracts (2) — 3,901 (76) 3,825 — Foreign exchange contracts — 318 — 318 — Credit contracts — 29 — 29 — Subtotal (314) 7,143 (76) 6,753 — Net gains (losses) recognized related to derivatives not designated as hedging instruments $ (584) 7,143 739 7,298 577 Quarter ended June 30, 2021 Net gains (losses) recognized on economic hedges derivatives: Interest contracts (1) $ 287 — 14 301 — Equity contracts — (762) (4) (766) (239) Foreign exchange contracts — — (90) (90) — Credit contracts — — (5) (5) — Subtotal 287 (762) (85) (560) (239) Net gains (losses) recognized on customer accommodation trading and other derivatives: Interest contracts 482 (594) — (112) — Commodity contracts — (36) — (36) — Equity contracts — (922) (304) (1,226) — Foreign exchange contracts — (24) — (24) — Credit contracts — (43) — (43) — Subtotal 482 (1,619) (304) (1,441) — Net gains (losses) recognized related to derivatives not designated as hedging instruments $ 769 (2,381) (389) (2,001) (239) (continued on following page) (continued from previous page) Noninterest income Noninterest expense (in millions) Mortgage banking Net gains (losses) from trading and securities Other Total Personnel expense Six months ended June 30, 2022 Net gains (losses) recognized on economic hedges derivatives: Interest contracts (1) $ (638) — (52) (690) — Equity contracts (2) — — 9 9 843 Foreign exchange contracts — — 1,069 1,069 — Credit contracts — — 7 7 — Subtotal (638) — 1,033 395 843 Net gains (losses) recognized on customer accommodation trading and other derivatives: Interest contracts (812) 6,005 — 5,193 — Commodity contracts — 217 — 217 — Equity contracts (2) — 4,904 (114) 4,790 — Foreign exchange contracts — 645 — 645 — Credit contracts — 41 — 41 — Subtotal (812) 11,812 (114) 10,886 — Net gains (losses) recognized related to derivatives not designated as hedging instruments $ (1,450) 11,812 919 11,281 843 Six months ended June 30, 2021 Net gains (losses) recognized on economic hedges derivatives: Interest contracts (1) $ (88) — (6) (94) — Equity contracts — (337) 1 (336) (399) Foreign exchange contracts — — (19) (19) — Credit contracts — — (5) (5) — Subtotal (88) (337) (29) (454) (399) Net gains (losses) recognized on customer accommodation trading and other derivatives: Interest contracts (49) 1,330 — 1,281 — Commodity contracts — 44 — 44 — Equity contracts — (2,085) (393) (2,478) — Foreign exchange contracts — 440 — 440 — Credit contracts — (71) — (71) — Subtotal (49) (342) (393) (784) — Net gains (losses) recognized related to derivatives not designated as hedging instruments $ (137) (679) (422) (1,238) (399) (1) Mortgage banking amounts for second quarter and first half of 2022 are comprised of gains (losses) of $(980) million and $(2.6) billion, respectively, related to derivatives used as economic hedges of MSRs measured at fair value offset by gains (losses) of $710 million and $2.0 billion, respectively, related to derivatives used as economic hedges of mortgage loans held for sale and derivative loan commitments. The corresponding amounts for second quarter and first half of 2021 are comprised of gains (losses) of $707 million and $(933) million offset by gains (losses) of $(420) million and $845 million, respectively. (2) In first quarter 2022, we prospectively reclassified certain equity securities and related economic hedge derivatives from “not held for trading activities” to “held for trading activities” to better reflect the business activity of those financial instruments. For additional information on Trading Activities, see Note 1 (Summary of Significant Accounting Policies) in our 2021 Form 10-K. 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 generally use credit derivatives to assist customers with their risk management objectives by purchasing and selling credit protection on corporate debt obligations through the use of credit default swaps or through risk participation swaps to help manage counterparty exposure. We would be required to perform under the credit derivatives we sold 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. Table 14.7 provides details of sold credit derivatives. Table 14.7: Sold Credit Derivatives Notional amount (in millions) Protection sold Protection sold – non-investment grade June 30, 2022 Credit default swaps $ 9,274 2,110 Risk participation swaps 7,205 6,995 Total credit derivatives $ 16,479 9,105 December 31, 2021 Credit default swaps $ 8,033 1,982 Risk participation swaps 6,756 6,012 Total credit derivatives $ 14,789 7,994 Protection sold represents the estimated maximum exposure to loss that would be incurred if, upon an event of default, the value of our interests and any associated collateral declined to zero, and does not take into consideration any of recovery value from the referenced obligation or offset from collateral held or any economic hedges. 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 credit risk to be low if the underlying assets under the credit derivative have an external rating that is investment grade. If an external rating is not available, we classify the credit derivative as non-investment grade. Our maximum exposure to sold credit derivatives is managed through posted collateral and purchased credit derivatives with identical or similar reference positions in order to achieve our desired credit risk profile. The credit risk management is designed to provide an ability to recover a significant portion of any amounts that would be paid under sold credit derivatives. Credit-Risk Contingent Features Certain of our derivative contracts contain provisions whereby if the credit rating of our debt were to be downgraded by certain major credit rating agencies, the counterparty could demand additional collateral or require termination or replacement of derivative instruments in a net liability position. Table 14.8 illustrates our exposure to OTC bilateral derivative contracts 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 14.8: Credit-Risk Contingent Features (in billions) Jun 30, Dec 31, Net derivative liabilities with credit-risk contingent features $ 12.7 12.2 Collateral posted 10.5 11.0 Additional collateral to be posted upon a below investment grade credit rating (1) 2.2 1.2 (1) Any credit rating below investment grade requires us to post the maximum amount of collateral. |
Fair Values of Assets and Liabi
Fair Values of Assets and Liabilities | 6 Months Ended |
Jun. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Values of Assets and Liabilities | Note 15: Fair Values of Assets and Liabilities We use fair value measurements to record fair value adjustments to certain assets and liabilities and to fulfill fair value disclosure requirements. Assets and liabilities recorded at fair value on a recurring basis, such as derivatives, residential MSRs, and trading or AFS debt securities, are presented in Table 15.1 in this Note. Additionally, from time to time, we record fair value adjustments on a nonrecurring basis. These nonrecurring adjustments typically involve application of lower of cost or fair value (LOCOM) accounting, write-downs of individual assets or application of the measurement alternative for nonmarketable equity securities. Assets recorded at fair value on a nonrecurring basis are presented in Table 15.4 in this Note. We provide in Table 15.8 estimates of fair value for financial instruments that are not recorded at fair value, such as loans and debt liabilities carried at amortized cost. See Note 1 (Summary of Significant Accounting Policies) in our 2021 Form 10-K for discussion of how we determine fair value. For descriptions of the valuation methodologies we use for assets and liabilities recorded at fair value on a recurring or nonrecurring basis, see Note 17 (Fair Values of Assets and Liabilities) in our 2021 Form 10-K. FAIR VALUE HIERARCHY We classify our assets and liabilities recorded at fair value as either Level 1, 2, or 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) in our 2021 Form 10-K 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. This determination is ultimately based upon the specific facts and circumstances of each instrument or instrument category and judgments are made regarding the significance of the unobservable inputs to the instruments’ fair value measurement in its entirety. If unobservable inputs are considered significant, the instrument is classified as Level 3. We do not classify nonmarketable equity securities in the fair value hierarchy if we use the non-published net asset value (NAV) per share (or its equivalent) as a practical expedient to measure fair value. Marketable equity securities with published NAVs are classified in the fair value hierarchy. Assets and Liabilities Recorded at Fair Value on a Recurring Basis Table 15.1 presents the balances of assets and liabilities recorded at fair value on a recurring basis. Table 15.1: Fair Value on a Recurring Basis June 30, 2022 December 31, 2021 (in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Trading debt securities: Securities of U.S. Treasury and federal agencies $ 30,701 4,553 — 35,254 27,607 2,249 — 29,856 Collateralized loan obligations — 598 149 747 — 655 211 866 Corporate debt securities — 10,364 17 10,381 — 9,987 18 10,005 Federal agency mortgage-backed securities — 32,612 3 32,615 — 40,350 — 40,350 Non-agency mortgage-backed securities — 1,256 — 1,256 — 1,531 11 1,542 Other debt securities — 8,904 — 8,904 — 5,645 1 5,646 Total trading debt securities 30,701 58,287 169 89,157 27,607 60,417 241 88,265 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies 46,515 — — 46,515 39,661 — — 39,661 Non-U.S. government securities — 166 — 166 — 71 — 71 Securities of U.S. states and political subdivisions — 11,998 78 12,076 — 16,832 85 16,917 Federal agency mortgage-backed securities — 56,195 — 56,195 — 105,886 — 105,886 Non-agency mortgage-backed securities — 3,804 — 3,804 — 4,522 10 4,532 Collateralized loan obligations — 4,409 — 4,409 — 5,708 — 5,708 Other debt securities — 2,578 89 2,667 — 4,378 91 4,469 Total available-for-sale debt securities 46,515 79,150 167 125,832 39,661 137,397 186 177,244 Loans held for sale — 4,627 1,072 5,699 — 14,862 1,033 15,895 Mortgage servicing rights (residential) — — 9,163 9,163 — — 6,920 6,920 Derivative assets (gross): Interest rate contracts 313 30,489 194 30,996 52 22,296 190 22,538 Commodity contracts — 12,546 385 12,931 — 5,902 63 5,965 Equity contracts 4,499 7,503 1,090 13,092 6,402 9,350 2,019 17,771 Foreign exchange contracts 33 13,025 50 13,108 8 6,573 7 6,588 Credit contracts — 51 18 69 — 32 14 46 Total derivative assets (gross) 4,845 63,614 1,737 70,196 6,462 44,153 2,293 52,908 Equity securities: Marketable 18,022 236 7 18,265 29,968 82 4 30,054 Nonmarketable (1) — 9,364 24 9,388 — 57 8,906 8,963 Total equity securities 18,022 9,600 31 27,653 29,968 139 8,910 39,017 Total assets prior to derivative netting $ 100,083 215,278 12,339 327,700 103,698 256,968 19,583 380,249 Derivative netting (2) (45,300) (31,430) Total assets after derivative netting $ 282,400 348,819 Derivative liabilities (gross): Interest rate contracts $ (203) (29,820) (765) (30,788) (28) (17,712) (63) (17,803) Commodity contracts — (5,467) (293) (5,760) — (2,351) (66) (2,417) Equity contracts (3,312) (4,663) (2,593) (10,568) (5,820) (10,753) (2,448) (19,021) Foreign exchange contracts (43) (14,812) (20) (14,875) (8) (6,654) (10) (6,672) Credit contracts — (35) (3) (38) — (40) (3) (43) Total derivative liabilities (gross) (3,558) (54,797) (3,674) (62,029) (5,856) (37,510) (2,590) (45,956) Short-sale and other trading liabilities (16,698) (5,936) — (22,634) (15,436) (5,249) — (20,685) Total liabilities prior to derivative netting $ (20,256) (60,733) (3,674) (84,663) (21,292) (42,759) (2,590) (66,641) Derivative netting (2) 44,861 36,532 Total liabilities after derivative netting $ (39,802) (30,109) (1) Excludes $81 million of nonmarketable equity securities as of December 31, 2021 that are measured at fair value using non-published NAV per share (or its equivalent) as a practical expedient that are not classified in the fair value hierarchy. (2) Represents balance sheet netting of derivative asset and liability balances, related cash collateral and portfolio level counterparty valuation adjustments. See Note 14 (Derivatives) for additional information. Level 3 Assets and Liabilities Recorded at Fair Value on a Recurring Basis Table 15.2 presents the changes in Level 3 assets and liabilities measured at fair value on a recurring basis. Table 15.2: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis Net unrealized gains (losses) (in millions) Balance, Net gains/(losses) (1) Purchases (2) Sales Settlements Transfers Transfers Balance, (5) Quarter ended June 30, 2022 Trading debt securities $ 201 (22) 46 (78) 29 — (7) 169 (28) (6) Available-for-sale debt securities 338 (5) 2 (25) (5) — (138) 167 (1) (6) Loans held for sale 1,019 (61) 116 (27) (57) 84 (2) 1,072 (61) (7) Mortgage servicing rights (residential) (8) 8,511 581 322 (251) — — — 9,163 868 (7) Net derivative assets and liabilities: Interest rate contracts (176) (381) — — 371 (385) — (571) (133) Equity contracts (1,425) 192 — — 280 (516) (34) (1,503) 393 Other derivative contracts 27 88 — — 28 — (6) 137 89 Total derivative contracts (1,574) (101) — — 679 (901) (40) (1,937) 349 (9) Equity securities 26 5 — (2) — 3 (1) 31 5 (6) Quarter ended June 30, 2021 Trading debt securities $ 192 4 123 (129) (5) 15 (8) 192 1 (6) Available-for-sale debt securities 3,142 28 9 — (120) 11 (265) 2,805 41 (6) Loans held for sale 1,166 15 131 (231) (107) 97 (2) 1,069 9 (7) Mortgage servicing rights (residential) (8) 7,536 (1,297) 485 (7) — — — 6,717 (809) (7) Net derivative assets and liabilities: Interest rate contracts 1 458 — — (145) — — 314 167 Equity contracts (429) (158) — — 120 (10) 52 (425) (130) Other derivative contracts 56 (67) 2 (1) 42 — 3 35 (16) Total derivative contracts (372) 233 2 (1) 17 (10) 55 (76) 21 (9) Equity securities 8,865 794 — — — 1 — 9,660 794 (6) Six months ended June 30, 2022 Trading debt securities $ 241 (37) 93 (92) (6) 5 (35) 169 (40) (6) Available-for-sale debt securities 186 (26) 54 (25) (10) 126 (138) 167 (1) (6) Loans held for sale 1,033 (118) 179 (70) (130) 186 (8) 1,072 (115) (7) Mortgage servicing rights (residential) (8) 6,920 1,829 664 (250) — — — 9,163 2,473 (7) Net derivative assets and liabilities: Interest rate contracts 127 (959) — — 646 (385) — (571) (241) Equity contracts (429) (21) — — 869 (596) (1,326) (1,503) 603 Other derivative contracts 5 66 — — 72 — (6) 137 110 Total derivative contracts (297) (914) — — 1,587 (981) (1,332) (1,937) 472 (9) Equity securities 8,910 4 — (2) — 5 (8,886) 31 4 (6) Six months ended June 30, 2021 Trading debt securities $ 173 20 292 (302) (5) 22 (8) 192 5 (6) Available-for-sale debt securities 2,994 21 24 — (188) 253 (299) 2,805 16 (6) Loans held for sale 1,234 (4) 260 (379) (217) 178 (3) 1,069 (5) (7) Mortgage servicing rights (residential) (8) 6,125 (291) 891 (8) — — — 6,717 782 (7) Net derivative assets and liabilities: Interest rate contracts 446 (83) — — (44) — (5) 314 109 Equity contracts (314) (326) — — 160 (37) 92 (425) (236) Other derivative contracts 39 (40) 2 (1) 32 — 3 35 4 Total derivative contracts 171 (449) 2 (1) 148 (37) 90 (76) (123) (9) Equity securities 9,233 429 — (5) — 3 — 9,660 429 (6) (1) Includes net gains (losses) included in both net income and other comprehensive income. All amounts represent net gains (losses) included in net income except for $(6) million and $(27) million and included in other comprehensive income from AFS debt securities for the second quarter and first half of 2022, respectively. The corresponding amounts for the second quarter and first half of 2021 were $22 million and $36 million, respectively. (2) Includes originations of mortgage servicing rights and loans held for sale. (3) All assets and liabilities transferred into Level 3 were previously classified within Level 2. (4) All assets and liabilities transferred out of Level 3 are classified as Level 2. During first quarter 2022, we transferred $8.9 billion of non-marketable equity securities and $1.4 billion of related economic hedging derivative assets (equity contracts) out of Level 3 due to our election to measure fair value of these instruments as a portfolio. Under this election, the unit of valuation is the portfolio-level, rather than each individual instrument. The unobservable inputs previously significant to the valuation of the instruments individually are no longer significant, as those unobservable inputs offset under the portfolio election. (5) Includes net unrealized gains (losses) related to assets and liabilities held at period end included in both net income and other comprehensive income. All amounts represent net unrealized gains (losses) included in net income except for $38 million and $31 million included in other comprehensive income from AFS debt securities for the second quarter and first half of 2021, respectively. (6) Included in net gains from trading and securities in the consolidated statement of income. (7) Included in mortgage banking income in the consolidated statement of income. (8) For additional information on the changes in mortgage servicing rights, see Note 9 (Mortgage Banking Activities). (9) Included in mortgage banking income, net gains from trading and securities, and other noninterest income in the consolidated statement of income. Table 15.3 provides quantitative information about the valuation techniques and significant unobservable inputs used in the valuation of our Level 3 assets and liabilities measured at fair value on a recurring basis. The significant unobservable inputs for Level 3 assets inherent in the fair values obtained from third-party vendors are not included in the table, as the specific inputs applied are not provided by the vendor (for additional information on vendor-developed valuations, see Note 17 (Fair Values of Assets and Liabilities) in our 2021 Form 10-K). Weighted averages of inputs are calculated using outstanding unpaid principal balance for cash instruments, such as loans and securities, and notional amounts for derivative instruments. Table 15.3: Valuation Techniques – Recurring Basis ($ in millions, except cost to service amounts) Fair Value Level 3 Valuation Technique Significant Range of Inputs Weighted June 30, 2022 Trading and available-for-sale debt securities $ 126 Discounted cash flow Discount rate 1.5 - 12.5 % 6.0 1 Vendor priced 169 Market comparable pricing Comparability adjustment (23.3) - 79.9 2.4 40 Market comparable pricing Multiples 1.2x - 7.4x 2.4x Loans held for sale 1,072 Discounted cash flow Default rate 0.0 - 36.3 % 1.1 Discount rate 1.7 - 12.8 6.9 Loss severity 0.0 - 51.2 17.6 Prepayment rate 3.3 - 14.3 11.3 Mortgage servicing rights (residential) 9,163 Discounted cash flow Cost to service per loan (1) $ 52 - 541 100 Discount rate 7.6 - 10.7 % 8.1 Prepayment rate (2) 9.0 - 19.4 9.7 Net derivative assets and (liabilities): Interest rate contracts (416) Discounted cash flow Discount rate 2.1 - 3.0 2.8 (26) Discounted cash flow Default rate 0.4 - 5.0 2.3 Loss severity 50.0 - 50.0 50.0 Prepayment rate 2.8 - 22.0 18.7 Interest rate contracts: derivative loan commitments (129) Discounted cash flow Fall-out factor 1.0 - 99.0 22.0 Initial-value servicing (47.0) - 146.0 bps 19.1 Equity contracts (1,054) Discounted cash flow Conversion factor (13.3) - 0.0 % (10.5) Weighted average life 0.5 - 1.5 yrs 1.0 (449) Option model Correlation factor (77.0) - 99.0 % 21.7 Volatility factor 6.5 - 87.3 28.4 Insignificant Level 3 assets, net of liabilities 168 Total Level 3 assets, net of liabilities $ 8,665 (3) December 31, 2021 Trading and available-for-sale debt securities $ 136 Discounted cash flow Discount rate 0.4 - 12.5 % 5.5 11 Vendor priced 280 Market comparable pricing Comparability adjustment (30.2) - 19.2 (4.6) Loans held for sale 1,033 Discounted cash flow Default rate 0.0 - 29.2 % 1.2 Discount rate 1.6 - 11.9 5.1 Loss severity 0.0 - 46.9 15.4 Prepayment rate 7.5 - 18.2 13.1 Mortgage servicing rights (residential) 6,920 Discounted cash flow Cost to service per loan (1) $ 54 - 585 106 Discount rate 5.8 - 8.8 % 6.4 Prepayment rate (2) 12.5 - 21.1 14.7 Net derivative assets and (liabilities): Interest rate contracts 87 Discounted cash flow Default rate 0.0 - 5.0 2.1 Loss severity 50.0 - 50.0 50.0 Prepayment rate 2.8 - 22.0 18.7 Interest rate contracts: derivative loan commitments 40 Discounted cash flow Fall-out factor 1.0 - 99.0 16.8 Initial-value servicing (74.8) - 146.0 bps 50.9 Equity contracts 253 Discounted cash flow Conversion factor (10.2) - 0.0 % (9.7) Weighted average life 0.5 - 2.0 yrs 1.1 (682) Option model Correlation factor (77.0) - 99.0 % 23.2 Volatility factor 6.5 - 72.0 29.1 Nonmarketable equity securities 8,906 Market comparable pricing Comparability adjustment (21.6) - (7.7) (15.5) Insignificant Level 3 assets, net of liabilities 9 Total Level 3 assets, net of liabilities $ 16,993 (3) (1) The high end of the range of inputs is for servicing modified loans. For non-modified loans the range is $52 - $186 at June 30, 2022, and $54 - $199 at December 31, 2021. (2) 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. (3) Consists of total Level 3 assets of $12.3 billion and $19.6 billion and total Level 3 liabilities of $3.7 billion and $2.6 billion, before netting of derivative balances, at June 30, 2022, and December 31, 2021, respectively. Assets and Liabilities Recorded at Fair Value on a Nonrecurring Basis We may be required, from time to time, to measure certain assets at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from application of LOCOM accounting, write-downs of individual assets, or application of the measurement alternative for nonmarketable equity securities. Table 15.4 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 June 30, 2022 and December 31, 2021, and for which a nonrecurring fair value adjustment was recorded during the six months ended June 30, 2022, and year ended December 31, 2021. Table 15.4: Fair Value on a Nonrecurring Basis June 30, 2022 December 31, 2021 (in millions) Level 2 Level 3 Total Level 2 Level 3 Total Loans held for sale (1) $ 1,851 1,566 3,417 3,911 1,407 5,318 Loans: Commercial 46 — 46 476 — 476 Consumer 462 — 462 380 — 380 Total loans 508 — 508 856 — 856 Mortgage servicing rights (commercial) — 75 75 — 567 567 Nonmarketable equity securities 1,209 3,432 4,641 6,262 765 7,027 Other assets 1,749 110 1,859 1,373 175 1,548 Total assets at fair value on a nonrecurring basis $ 5,317 5,183 10,500 12,402 2,914 15,316 (1) Predominantly consists of commercial mortgages and residential mortgage – first lien loans. Table 15.5 presents the gains (losses) on certain assets held at the end of the reporting periods presented for which a nonrecurring fair value adjustment was recognized in earnings during the respective periods. Table 15.5: Gains (Losses) on Assets with Nonrecurring Fair Value Adjustment Six months ended June 30, (in millions) 2022 2021 Loans held for sale $ (66) 38 Loans: Commercial (36) (182) Consumer (358) (90) Total loans (394) (272) Mortgage servicing rights (commercial) 4 31 Nonmarketable equity securities (1) (95) 2,215 Other assets (2) (176) (56) Total $ (727) 1,956 (1) Includes impairment of nonmarketable equity securities and observable price changes related to nonmarketable equity securities accounted for under the measurement alternative. (2) Includes impairment of operating lease ROU assets, valuation of physical commodities, valuation losses on foreclosed real estate and other collateral owned, and impairment of private equity and venture capital investments in consolidated portfolio companies. Table 15.6 provides quantitative information about the valuation techniques and significant unobservable inputs used in the valuation of our Level 3 assets that are measured at fair value on a nonrecurring basis and determined using an internal model. The table is limited to financial instruments that had nonrecurring fair value adjustments during the periods presented. Weighted averages of inputs are calculated using outstanding unpaid principal balance for cash instruments, such as loans, and carrying value prior to the nonrecurring fair value measurement for nonmarketable equity securities and private equity and venture capital investments in consolidated portfolio companies. Table 15.6: Valuation Techniques – Nonrecurring Basis ($ in millions) Fair Value Valuation Significant Range of Inputs Weighted June 30, 2022 Loans held for sale (2) $ 1,566 Discounted cash flow Default rate (3) 0.2 - 85.6 % 18.8 Discount rate 0.6 - 12.8 3.9 Loss severity 0.3 - 43.8 3.8 Prepayment rate (4) 3.9 - 100.0 35.9 Mortgage servicing rights (commercial) 75 Discounted cash flow Cost to service per loan $ 3,775 - 3,775 3,775 Discount rate 5.2 - 5.2 % 5.2 Prepayment rate 0.0 - 20.6 6.7 Nonmarketable equity securities 2,154 Market comparable pricing Comparability adjustment (100.0) - (4.0) (22.7) 1,270 Market comparable pricing Multiples 2.6x - 24.2x 19.6x Other assets (5) 102 Market comparable pricing Multiples 8.0 - 8.0 8.0 Insignificant Level 3 assets 16 Total $ 5,183 December 31, 2021 Loans held for sale (2) $ 1,407 Discounted cash flow Default rate (3) 0.2 - 78.3 % 25.6 Discount rate 0.6 - 12.0 3.3 Loss severity 0.4 - 45.6 4.8 Prepayment rate (4) 5.4 - 100.0 38.9 Mortgage servicing rights (commercial) 567 Discounted cash flow Cost to service per loan $ 150 - 3,381 2,771 Discount rate 4.0 - 4.5 % 4.0 Prepayment rate 0.0 - 20.6 5.5 Nonmarketable equity securities 745 Market comparable pricing Comparability adjustment (100.0) - (33.0) (59.0) 15 Market comparable pricing Multiples 2.0x - 3.3x 2.8x 5 Discounted cash flow Discount rate 10.5 - 10.5 % 10.5 Other assets 175 Discounted cash flow Discount rate 0.2 - 4.4 2.9 Total $ 2,914 (1) See Note 17 (Fair Values of Assets and Liabilities) in our 2021 Form 10-K for additional information on the valuation technique and significant unobservable inputs used in the valuation of Level 3 assets. (2) Consists of approximately $1.4 billion and $1.2 billion of government insured/guaranteed loans purchased from GNMA-guaranteed mortgage securitizations at June 30, 2022, and December 31, 2021, respectively, and approximately $200 million of other mortgage loans that are not government insured/guaranteed at both June 30, 2022, and December 31, 2021. (3) Applies only to non-government insured/guaranteed loans. (4) 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. (5) Represents private equity and venture capital investments in consolidated portfolio companies. Fair Value Option The fair value option is an irrevocable election, generally only permitted upon initial recognition of financial assets or liabilities, to measure eligible financial instruments at fair value with changes in fair value reflected in earnings. We may elect the fair value option to align the measurement model with how the financial assets or liabilities are managed or to reduce complexity or accounting asymmetry. Following is a discussion of the portfolios for which we elected the fair value option. For additional information, including the basis for our fair value option elections, see Note 17 (Fair Values of Assets and Liabilities) in our 2021 Form 10-K. Table 15.7 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. Nonaccrual loans and loans 90 days or more past due and still accruing included in LHFS for which we have elected the fair value option were insignificant at June 30, 2022, and December 31, 2021. Table 15.7: Fair Value Option June 30, 2022 December 31, 2021 (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 Loans held for sale $ 5,699 5,985 (286) 15,895 15,750 145 Disclosures about Fair Value of Financial Instruments Table 15.8 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, certain nonmarketable equity securities, 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 15.8. 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 $1.2 billion and $1.4 billion at June 30, 2022 and December 31, 2021, respectively. 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 15.8: Fair Value Estimates for Financial Instruments Estimated fair value (in millions) Carrying amount Level 1 Level 2 Level 3 Total June 30, 2022 Financial assets Cash and due from banks (1) $ 29,716 29,716 — — 29,716 Interest-earning deposits with banks (1) 125,424 124,779 645 — 125,424 Federal funds sold and securities purchased under resale agreements (1) 55,546 — 55,546 — 55,546 Held-to-maturity debt securities 301,783 14,966 254,357 2,721 272,044 Loans held for sale 3,975 — 2,263 1,775 4,038 Loans, net (2) 917,538 — 60,386 835,057 895,443 Nonmarketable equity securities (cost method) 3,582 — — 3,644 3,644 Total financial assets $ 1,437,564 169,461 373,197 843,197 1,385,855 Financial liabilities Deposits (3) $ 25,776 — 11,316 13,733 25,049 Short-term borrowings 36,910 — 36,910 — 36,910 Long-term debt (4) 149,913 — 148,150 1,086 149,236 Total financial liabilities $ 212,599 — 196,376 14,819 211,195 December 31, 2021 Financial assets Cash and due from banks (1) $ 24,616 24,616 — — 24,616 Interest-earning deposits with banks (1) 209,614 209,452 162 — 209,614 Federal funds sold and securities purchased under resale agreements (1) 66,223 — 66,223 — 66,223 Held-to-maturity debt securities 272,022 16,825 252,717 2,844 272,386 Loans held for sale 7,722 — 6,300 1,629 7,929 Loans, net (2) 868,278 — 63,404 820,559 883,963 Nonmarketable equity securities (cost method) 3,584 — — 3,646 3,646 Total financial assets $ 1,452,059 250,893 388,806 828,678 1,468,377 Financial liabilities Deposits (3) $ 30,012 — 14,401 15,601 30,002 Short-term borrowings 34,409 — 34,409 — 34,409 Long-term debt (4) 160,660 — 166,682 1,402 168,084 Total financial liabilities $ 225,081 — 215,492 17,003 232,495 (1) Amounts consist of financial instruments for which carrying value approximates fair value. (2) Excludes lease financing with a carrying amount of $14.3 billion and $14.5 billion at June 30, 2022, and December 31, 2021, respectively. (3) Excludes deposit liabilities with no defined or contractual maturity of $1.4 trillion and $1.5 trillion at June 30, 2022, and December 31, 2021, respectively. (4) Excludes obligations under finance leases of $25 million and $26 million at June 30, 2022, and December 31, 2021, respectively. |
Preferred Stock
Preferred Stock | 6 Months Ended |
Jun. 30, 2022 | |
Preferred Stock [Abstract] | |
Preferred Stock | Note 16: 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. Table 16.1 summarizes information about our preferred stock including the Employee Stock Ownership Plan (ESOP) Cumulative Convertible Preferred Stock. Table 16.1: Preferred Stock June 30, 2022 December 31, 2021 (in millions, except shares) Shares Shares issued and outstanding Liquidation preference value Carrying Shares Shares Liquidation preference value Carrying value DEP Shares Dividend Equalization Preferred Shares (DEP) 97,000 96,546 $ — — 97,000 96,546 $ — — Series L (1) 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock 4,025,000 3,967,986 3,968 3,200 4,025,000 3,967,995 3,968 3,200 Series Q 5.85% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 69,000 69,000 1,725 1,725 69,000 69,000 1,725 1,725 Series R 6.625% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 34,500 33,600 840 840 34,500 33,600 840 840 Series S 5.90% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 80,000 80,000 2,000 2,000 80,000 80,000 2,000 2,000 Series U 5.875% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 80,000 80,000 2,000 2,000 80,000 80,000 2,000 2,000 Series Y 5.625% Non-Cumulative Perpetual Class A Preferred Stock 27,600 27,600 690 690 27,600 27,600 690 690 Series Z 4.75% Non-Cumulative Perpetual Class A Preferred Stock 80,500 80,500 2,013 2,013 80,500 80,500 2,013 2,013 Series AA 4.70% Non-Cumulative Perpetual Class A Preferred Stock 46,800 46,800 1,170 1,170 46,800 46,800 1,170 1,170 Series BB 3.90% Fixed-Reset Non-Cumulative Perpetual Class A Preferred Stock 140,400 140,400 3,510 3,510 140,400 140,400 3,510 3,510 Series CC 4.375% Non-Cumulative Perpetual Class A Preferred Stock 46,000 42,000 1,050 1,050 46,000 42,000 1,050 1,050 Series DD 4.25% Non-Cumulative Perpetual Class A Preferred Stock 50,000 50,000 1,250 1,250 50,000 50,000 1,250 1,250 ESOP (2) Cumulative Convertible Preferred Stock 609,434 609,434 609 609 609,434 609,434 609 609 Total 5,386,234 5,323,866 $ 20,825 20,057 5,386,234 5,323,875 $ 20,825 20,057 (1) 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. (2) See the “ESOP Cumulative Convertible Preferred Stock” section in this Note for additional information about the liquidation preference for the ESOP Cumulative Convertible Preferred Stock. 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 16.2: ESOP Preferred Stock Shares issued and outstanding Carrying value Adjustable dividend rate (in millions, except shares) Jun 30, Dec 31, Jun 30, Dec 31, Minimum Maximum ESOP Preferred Stock $1,000 liquidation preference per share 2018 189,225 189,225 $ 189 189 7.00 % 8.00 % 2017 135,135 135,135 135 135 7.00 8.00 2016 128,380 128,380 128 128 9.30 10.30 2015 68,106 68,106 68 68 8.90 9.90 2014 62,420 62,420 63 63 8.70 9.70 2013 26,168 26,168 26 26 8.50 9.50 Total ESOP Preferred Stock (1) 609,434 609,434 $ 609 609 Unearned ESOP shares (2) $ (646) (646) (1) At both June 30, 2022, and December 31, 2021, additional paid-in capital included $37 million related to ESOP preferred stock. (2) We recorded a corresponding charge to unearned ESOP shares in connection with the issuance of the ESOP Preferred Stock. The unearned ESOP shares are reduced as shares of the ESOP Preferred Stock are committed to be released. |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 6 Months Ended |
Jun. 30, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contracts with Customers | Note 17: Revenue from Contracts with Customers Our revenue includes net interest income on financial instruments and noninterest income. Table 17.1 presents our revenue by operating segment. For additional description of our operating segments, including additional financial information and the underlying management accounting process, see Note 22 (Operating Segments). For a description of our revenue from contracts with customers, see Note 20 (Revenue from Contracts with Customers) in our 2021 Form 10-K. Table 17.1: Revenue by Operating Segment (in millions) Consumer Banking and Lending Commercial Banking Corporate and Investment Banking Wealth and Investment Management Corporate Reconciling Consolidated Quarter ended June 30, 2022 Net interest income (2) $ 6,372 1,580 2,057 916 (619) (108) 10,198 Noninterest income: Deposit-related fees 779 310 280 7 — — 1,376 Lending-related fees (2) 34 122 195 2 — — 353 Investment advisory and other asset-based fees (3) — 10 30 2,306 — — 2,346 Commissions and brokerage services fees — — 83 459 — — 542 Investment banking fees (2) 15 307 — (34) — 286 Card fees: Card interchange and network revenue (4) 920 58 15 1 — — 994 Other card fees (2) 118 — — — — — 118 Total card fees 1,038 58 15 1 — — 1,112 Mortgage banking (2) 211 — 79 (3) — — 287 Net gains from trading activities (2) — — 378 11 57 — 446 Net gains from debt securities (2) — 5 — — 138 — 143 Net losses from equity securities (2) (8) (67) (2) (1) (537) — (615) Lease income (2) — 179 11 — 143 — 333 Other (2) 83 280 140 7 119 (408) 221 Total noninterest income 2,135 912 1,516 2,789 (114) (408) 6,830 Total revenue $ 8,507 2,492 3,573 3,705 (733) (516) 17,028 Quarter ended June 30, 2021 Net interest income (2) $ 5,618 1,202 1,783 610 (304) (109) 8,800 Noninterest income: Deposit-related fees 732 325 277 7 1 — 1,342 Lending-related fees (2) 36 135 190 2 (1) — 362 Investment advisory and other asset-based fees (3) — 2 12 2,382 398 — 2,794 Commissions and brokerage services fees — — 68 513 (1) — 580 Investment banking fees (2) 9 580 (1) (16) — 570 Card fees: Card interchange and network revenue (4) 896 49 11 1 — — 957 Other card fees (2) 121 — — — (1) — 120 Total card fees 1,017 49 11 1 (1) — 1,077 Mortgage banking (2) 1,158 — 181 (3) — — 1,336 Net gains (losses) from trading activities (2) — (1) 30 6 (14) — 21 Net gains from debt securities (2) — — — — — — — Net gains from equity securities (2) — 32 46 6 2,612 — 2,696 Lease income (2) — 173 — — 140 — 313 Other (2) 127 182 160 13 209 (312) 379 Total noninterest income 3,068 906 1,555 2,926 3,327 (312) 11,470 Total revenue $ 8,686 2,108 3,338 3,536 3,023 (421) 20,270 Six months ended June 30, 2022 Net interest income (2) $ 12,368 2,941 4,047 1,715 (1,437) (215) 19,419 Noninterest income: Deposit-related fees 1,624 638 573 14 — — 2,849 Lending-related fees (2) 68 243 380 4 — — 695 Investment advisory and other asset-based fees (3) — 12 42 4,782 8 — 4,844 Commissions and brokerage services fees — — 166 913 — — 1,079 Investment banking fees (3) 30 769 — (63) — 733 Card fees: Card interchange and network revenue (4) 1,754 111 29 2 — — 1,896 Other card fees (2) 245 — — — — — 245 Total card fees 1,999 111 29 2 — — 2,141 Mortgage banking (2) 865 — 121 (6) — — 980 Net gains from trading activities (2) — — 606 12 46 — 664 Net gains from debt securities (2) — 5 — — 140 — 145 Net gains (losses) from equity securities (2) (17) 19 (7) (1) (33) — (39) Lease income (2) — 358 13 — 289 — 660 Other (2) 166 462 304 27 305 (814) 450 Total noninterest income 4,702 1,878 2,996 5,747 692 (814) 15,201 Total revenue $ 17,070 4,819 7,043 7,462 (745) (1,029) 34,620 (continued on following page) (continued from previous page) (in millions) Consumer Banking and Lending Commercial Banking Corporate and Investment Banking Wealth and Investment Management Corporate Reconciling Consolidated Six months ended June 30, 2021 Net interest income (2) $ 11,233 2,456 3,562 1,267 (694) (216) 17,608 Noninterest income: Deposit-related fees 1,393 642 543 14 5 — 2,597 Lending-related fees (2) 76 271 373 4 (1) — 723 Investment advisory and other asset-based fees (3) — 7 34 4,688 821 — 5,550 Commissions and brokerage services fees — — 149 1,068 (1) — 1,216 Investment banking fees (8) 22 1,191 (2) (65) — 1,138 Card fees: Card interchange and network revenue (4) 1,674 94 21 2 — — 1,791 Other card fees (2) 235 — — — — — 235 Total card fees 1,909 94 21 2 — — 2,026 Mortgage banking (2) 2,417 — 251 (6) — — 2,662 Net gains (losses) from trading activities (2) 1 1 361 12 (6) — 369 Net gains from debt securities (2) — — — — 151 — 151 Net gains from equity securities (2) 34 45 121 6 2,882 — 3,088 Lease income (2) — 347 1 — 280 — 628 Other (2) 285 304 335 27 678 (583) 1,046 Total noninterest income 6,107 1,733 3,380 5,813 4,744 (583) 21,194 Total revenue $ 17,340 4,189 6,942 7,080 4,050 (799) 38,802 (1) Taxable-equivalent adjustments related to tax-exempt income on certain loans and debt securities are included in net interest income, while taxable-equivalent adjustments related to income tax credits for low-income housing and renewable energy investments are included in noninterest income, in each case with corresponding impacts to income tax expense (benefit). Adjustments are included in Corporate, Commercial Banking, and Corporate and Investment Banking and are eliminated to reconcile to the Company’s consolidated financial results. (2) These revenues are related to financial assets and liabilities, including loans, leases, securities and derivatives, with additional details included in other footnotes to our financial statements. (3) We earned trailing commissions of $245 million and $516 million for the second quarter and first half of 2022, respectively, and $300 million and $598 million for the second quarter and first half of 2021, respectively. |
Employee Benefits and Other Exp
Employee Benefits and Other Expenses | 6 Months Ended |
Jun. 30, 2022 | |
Retirement Benefits [Abstract] | |
Employee Benefits and Other Expenses | Note 18: 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. For additional information on our pension and postretirement plans, including plan assumptions, investment strategy and asset allocation, projected benefit payments, and valuation methodologies used for assets measured at fair value, see Note 1 (Summary of Significant Accounting Policies) and Note 21 (Employee Benefits and Other Expenses) in our 2021 Form 10-K. We recognize settlement losses for our Cash Balance Plan based on an assessment of whether lump sum benefit payments will, in aggregate for the year, exceed the sum of its annual service and interest cost (threshold). Settlement losses of $56 million and $103 million were recognized during the second quarter and first half of 2022, respectively, compared with $62 million for both the second quarter and first half of 2021, representing the pro rata portion of the net loss in AOCI based on the percentage reduction in the Cash Balance Plan’s projected benefit obligation attributable to lump sum benefit payments during the first half of both 2022 and 2021. As a result of the settlement losses, we remeasured the Cash Balance Plan obligation and plan assets as of both June 30, 2022 and 2021, and used a discount rate of 4.71% and 2.80%, respectively. In the second quarter and first half of 2022, respectively, the result of the settlement losses and remeasurements was: • a decrease of $120 million and $110 million in the Cash Balance Plan asset; and • a decrease of $64 million and $7 million in OCI (pre-tax). In both the second quarter and first half of 2021, the result of the settlement losses and remeasurement was: • an increase of $347 million in the Cash Balance Plan asset; and • an increase of $409 million in OCI (pre-tax). Table 18.1 presents the components of net periodic benefit cost. The expected long-term rate of return on plan assets and interest cost discount rate in determining net periodic benefit cost for second quarter 2022 were 5.00% and 3.44%, respectively. Service cost is reported in personnel expense and all other components of net periodic benefit cost are reported in other noninterest expense on the consolidated statement of income. Table 18.1: Net Periodic Benefit Cost 2022 2021 Pension benefits Pension benefits (in millions) Qualified Non- qualified Other benefits Qualified Non- qualified Other benefits Quarter ended June 30, Service cost $ 5 — — 5 — — Interest cost 82 3 3 71 3 3 Expected return on plan assets (126) — (6) (154) — (4) Amortization of net actuarial loss (gain) 33 3 (6) 38 3 (5) Amortization of prior service credit — — (2) — — (3) Settlement loss 62 — — 62 — — Net periodic benefit cost $ 56 6 (11) 22 6 (9) Six months ended June 30, Service cost $ 10 — — 9 — — Interest cost 149 5 5 142 6 6 Expected return on plan assets (265) — (11) (306) — (9) Amortization of net actuarial loss (gain) 66 6 (11) 75 7 (10) Amortization of prior service credit — — (5) — — (5) Settlement loss 109 1 — 62 2 — Net periodic benefit cost $ 69 12 (22) (18) 15 (18) Other Expenses Regulatory Charges and Assessments expense, which is included in other noninterest expense, was $208 million and $433 million in the second quarter and first half of 2022, respectively, compared with $192 million and $409 million in the same periods a year ago, and primarily consisted of Federal Deposit Insurance Corporation (FDIC) deposit assessment expense. |
Restructuring Charges
Restructuring Charges | 6 Months Ended |
Jun. 30, 2022 | |
Restructuring Costs [Abstract] | |
Restructuring Charges | Note 19: Restructuring Charges The Company began pursuing various initiatives to reduce expenses and create a more efficient and streamlined organization in third quarter 2020. Actions from these initiatives included (i) reorganizing and simplifying business processes and structures to improve internal operations and the customer experience, (ii) reducing headcount, (iii) optimizing third-party spending, including for our technology infrastructure, and (iv) rationalizing our branch and administrative locations, which may include consolidations and closures. Substantially all of the restructuring charges were personnel expenses related to severance costs associated with headcount reductions with payments made over time in accordance with our severance plan, as well as payments for other employee benefit costs such as incentive compensation. Restructuring charges are recorded as a component of noninterest expense on our consolidated statement of income. Changes in estimates represent adjustments to noninterest expense based on refinements to previously estimated amounts, which may reflect trends such as higher voluntary employee attrition, as well as changes in business activities. Table 19.1 provides details on our restructuring charges. Table 19.1: Accruals for Restructuring Charges Quarter ended June 30, Six months ended June 30, (in millions) 2022 2021 2022 2021 Balance, beginning of period $ 471 1,054 $ 565 1,214 Restructuring charges — 158 — 303 Changes in estimates — (162) 5 (294) Payments and utilization (96) (246) (195) (419) Balance, end of period $ 375 804 $ 375 804 |
Earnings Per Common Share
Earnings Per Common Share | 6 Months Ended |
Jun. 30, 2022 | |
Earnings Per Share [Abstract] | |
Earnings and Dividends Per Common Share | Note 20: Earnings and Dividends Per Common Share Table 20.1 shows earnings per common share and diluted earnings per common share and reconciles the numerator and denominator of both earnings per common share calculations. Table 20.1: Earnings Per Common Share Calculations Quarter ended June 30, Six months ended June 30, (in millions, except per share amounts) 2022 2021 2022 2021 Wells Fargo net income $ 3,119 6,040 $ 6,790 10,676 Less: Preferred stock dividends and other (1) 280 297 558 677 Wells Fargo net income applicable to common stock (numerator) $ 2,839 5,743 $ 6,232 9,999 Earnings per common share Average common shares outstanding (denominator) 3,793.8 4,124.6 3,812.3 4,132.9 Per share $ 0.75 1.39 $ 1.63 2.42 Diluted earnings per common share Average common shares outstanding 3,793.8 4,124.6 3,812.3 4,132.9 Add: Restricted share rights (2) 25.8 31.5 32.7 31.7 Diluted average common shares outstanding (denominator) 3,819.6 4,156.1 3,845.0 4,164.6 Per share $ 0.74 1.38 $ 1.62 2.40 (1) The quarter ended June 30, 2021, balance includes $4 million, and the six months ended June 30, 2021, balance includes $48 million from the elimination of discounts or issuance costs associated with redemptions of preferred stock. (2) Calculated using the treasury stock method. Table 20.2 presents the outstanding securities that were anti-dilutive and therefore not included in the calculation of diluted earnings per common share. Table 20.2: Outstanding Anti-Dilutive Securities Weighted-average shares Quarter ended June 30, Six months ended June 30, (in millions) 2022 2021 2022 2021 Convertible Preferred Stock, Series L (1) 25.3 25.3 25.3 25.3 Restricted share rights (2) 0.2 0.2 0.2 0.1 (1) Calculated using the if-converted method. (2) Calculated using the treasury stock method. Table 20.3 presents dividends declared per common share. Table 20.3: Dividends Declared Per Common Share Quarter ended June 30, Six months ended June 30, 2022 2021 2022 2021 Per common share $ 0.25 0.10 $ 0.50 0.20 |
Other Comprehensive Income
Other Comprehensive Income | 6 Months Ended |
Jun. 30, 2022 | |
Accumulative Other Comprehensive Income Balances [Abstract] | |
Other Comprehensive Income | Note 21: Other Comprehensive Income Table 21.1 provides the components of other comprehensive income (OCI), reclassifications to net income by income statement line item, and the related tax effects. Table 21.1: Summary of Other Comprehensive Income Quarter ended June 30, Six months ended June 30, 2022 2021 2022 2021 (in millions) Before Tax Net of Before Tax Net of Before Tax Net of Before Tax Net of Debt securities: Net unrealized gains (losses) arising during the period $ (4,806) 1,183 (3,623) 272 (68) 204 $ (11,694) 2,880 (8,814) (1,740) 432 (1,308) Reclassification of net (gains) losses to net income 4 (1) 3 132 (32) 100 62 (16) 46 118 (31) 87 Net change (4,802) 1,182 (3,620) 404 (100) 304 (11,632) 2,864 (8,768) (1,622) 401 (1,221) Derivatives and hedging activities: Fair Value Hedges: Change in fair value of excluded components on fair value hedges (1) 46 (11) 35 (14) 3 (11) 110 (27) 83 11 (3) 8 Cash Flow Hedges: Net unrealized gains (losses) arising during the period on cash flow hedges (114) 28 (86) 11 (3) 8 (165) 41 (124) (20) 5 (15) Reclassification of net (gains) losses to net income (43) 11 (32) 40 (10) 30 (29) 7 (22) 93 (23) 70 Net change (111) 28 (83) 37 (10) 27 (84) 21 (63) 84 (21) 63 Defined benefit plans adjustments: Net actuarial and prior service gains (losses) arising during the period (120) 30 (90) 347 (85) 262 (101) 25 (76) 357 (88) 269 Reclassification of amounts to noninterest expense (2) 90 (22) 68 95 (23) 72 166 (40) 126 131 (31) 100 Net change (30) 8 (22) 442 (108) 334 65 (15) 50 488 (119) 369 Debit valuation adjustments (DVA): Net unrealized gains (losses) arising during the period 10 (3) 7 — — — 6 (2) 4 — — — Reclassification of net (gains) losses to net income — — — — — — — — — — — — Net change 10 (3) 7 — — — 6 (2) 4 — — — Foreign currency translation adjustments: Net unrealized gains (losses) arising during the period (121) (2) (123) 23 (1) 22 (127) (2) (129) 36 (3) 33 Reclassification of net (gains) losses to net income — — — — — — — — — — — — Net change (121) (2) (123) 23 (1) 22 (127) (2) (129) 36 (3) 33 Other comprehensive income (loss) $ (5,054) 1,213 (3,841) 906 (219) 687 $ (11,772) 2,866 (8,906) (1,014) 258 (756) Less: Other comprehensive income from noncontrolling interests, net of tax — 1 — 2 Wells Fargo other comprehensive income (loss), net of tax $ (3,841) 686 $ (8,906) (758) (1) 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. (2) These items are included in the computation of net periodic benefit cost (see Note 18 (Employee Benefits and Other Expenses) for additional information). Table 21.2 provides the accumulated OCI (AOCI) balance activity on an after-tax basis. Table 21.2: Accumulated OCI Balances (in millions) Debt Fair value hedges (1) Cash flow hedges (2) Defined benefit plans adjustments Debit valuation adjustments Foreign currency translation adjustments Accumulated Quarter ended June 30, 2022 Balance, beginning of period $ (4,483) (95) (55) (1,983) (3) (148) (6,767) Net unrealized gains (losses) arising during the period (3,623) 35 (86) (90) 7 (123) (3,880) Amounts reclassified from accumulated other comprehensive income 3 — (32) 68 — — 39 Net change (3,620) 35 (118) (22) 7 (123) (3,841) Less: Other comprehensive income (loss) from noncontrolling interests — — — — — — — Balance, end of period (3) $ (8,103) (60) (173) (2,005) 4 (271) (10,608) Quarter ended June 30, 2021 Balance, beginning of period $ 1,514 (185) (108) (2,369) — (102) (1,250) Net unrealized gains (losses) arising during the period 204 (11) 8 262 — 22 485 Amounts reclassified from accumulated other comprehensive income 100 — 30 72 — — 202 Net change 304 (11) 38 334 — 22 687 Less: Other comprehensive income from noncontrolling interests 1 — — — — — 1 Balance, end of period (3) $ 1,817 (196) (70) (2,035) — (80) (564) Six months ended June 30, 2022 Balance, beginning of period $ 665 (143) (27) (2,055) — (142) (1,702) Net unrealized gains (losses) arising during the period (8,814) 83 (124) (76) 4 (129) (9,056) Amounts reclassified from accumulated other comprehensive income 46 — (22) 126 — — 150 Net change (8,768) 83 (146) 50 4 (129) (8,906) Less: Other comprehensive income (loss) from noncontrolling interests — — — — — — — Balance, end of period (3) $ (8,103) (60) (173) (2,005) 4 (271) (10,608) Six months ended June 30, 2021 Balance, beginning of period $ 3,039 (204) (125) (2,404) — (112) 194 Net unrealized gains (losses) arising during the period (1,308) 8 (15) 269 — 33 (1,013) Amounts reclassified from accumulated other comprehensive income 87 — 70 100 — — 257 Net change (1,221) 8 55 369 — 33 (756) Less: Other comprehensive income from noncontrolling interests 1 — — — — 1 2 Balance, end of period (3) $ 1,817 (196) (70) (2,035) — (80) (564) (1) Substantially all of the amounts for fair value hedges are foreign exchange contracts. (2) Majority of the amounts for cash flow hedges are interest rate contracts. (3) AOCI related to debt securities includes after-tax unrealized gains or losses associated with the transfer of securities from AFS to HTM of $3.4 billion and $898 million at June 30, 2022 and June 30, 2021, respectively. These amounts are subsequently amortized from AOCI into earnings over the same period as the related unamortized premiums and discounts. |
Operating Segments
Operating Segments | 6 Months Ended |
Jun. 30, 2022 | |
Segment Reporting [Abstract] | |
Operating Segments | Note 22: Operating Segments Our management reporting is organized into four reportable operating segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management. All other business activities that are not included in the reportable operating segments have been included in Corporate. We define our reportable operating segments by type of product and customer segment, and their results are based on our management reporting process. The management reporting process measures the performance of the reportable operating segments based on the Company’s management structure, and the results are regularly reviewed by our Chief Executive Officer and Operating Committee. The management reporting process is based on U.S. GAAP and includes specific adjustments, such as funds transfer pricing for asset/liability management, shared revenues and expenses, and taxable-equivalent adjustments to consistently reflect income from taxable and tax-exempt sources, which allows management to assess performance consistently across the operating segments. Consumer Banking and Lending offers diversified financial products and services for consumers and small businesses with annual sales generally up to $10 million. These financial products and services include checking and savings accounts, credit and debit cards, as well as home, auto, personal, and small business lending. Commercial Banking provides financial solutions to private, family owned and certain public companies. Products and services include banking and credit products across multiple industry sectors and municipalities, secured lending and lease products, and treasury management. Corporate and Investment Banking delivers a suite of capital markets, banking, and financial products and services to corporate, commercial real estate, government and institutional clients globally. Products and services include corporate banking, investment banking, treasury management, commercial real estate lending and servicing, equity and fixed income solutions, as well as sales, trading, and research capabilities. Wealth and Investment Management provides personalized wealth management, brokerage, financial planning, lending, private banking, trust and fiduciary products and services to affluent, high-net worth and ultra-high-net worth clients. We operate through financial advisors in our brokerage and wealth offices, consumer bank branches, independent offices, and digitally through WellsTrade ® and Intuitive Investor ® . Corporate includes corporate treasury and enterprise functions, net of allocations (including funds transfer pricing, capital, liquidity and certain expenses), in support of the reportable operating segments, as well as our investment portfolio and affiliated venture capital and private equity businesses. In addition, Corporate includes all restructuring charges related to our efficiency initiatives. See Note 19 (Restructuring Charges) for additional information on restructuring charges. Corporate also includes certain lines of business that management has determined are no longer consistent with the long-term strategic goals of the Company, as well as results for previously divested businesses. Basis of Presentation FUNDS TRANSFER PRICING Corporate treasury manages a funds transfer pricing methodology that considers interest rate risk, liquidity risk, and other product characteristics. Operating segments pay a funding charge for their assets and receive a funding credit for their deposits, both of which are included in net interest income. The net impact of the funding charges or credits is recognized in corporate treasury. REVENUE AND EXPENSE SHARING When lines of business jointly serve customers, the line of business that is responsible for providing the product or service recognizes revenue or expense with a referral fee paid or an allocation of cost to the other line of business based on established internal revenue-sharing agreements. When a line of business uses a service provided by another line of business or enterprise function (included in Corporate), expense is generally allocated based on the cost and use of the service provided. TAXABLE-EQUIVALENT ADJUSTMENTS Taxable-equivalent adjustments related to tax-exempt income on certain loans and debt securities are included in net interest income, while taxable-equivalent adjustments related to income tax credits for low-income housing and renewable energy investments are included in noninterest income, in each case with corresponding impacts to income tax expense (benefit). Adjustments are included in Corporate, Commercial Banking, and Corporate and Investment Banking and are eliminated to reconcile to the Company’s consolidated financial results. Table 22.1 presents our results by operating segment. Table 22.1: Operating Segments (in millions) Consumer Banking and Lending Commercial Banking Corporate and Investment Banking Wealth and Investment Management Corporate Reconciling Items (1) Consolidated Quarter ended June 30, 2022 Net interest income (2) $ 6,372 1,580 2,057 916 (619) (108) 10,198 Noninterest income 2,135 912 1,516 2,789 (114) (408) 6,830 Total revenue 8,507 2,492 3,573 3,705 (733) (516) 17,028 Provision for credit losses 613 21 (62) (7) 15 — 580 Noninterest expense 6,036 1,478 1,840 2,911 618 — 12,883 Income (loss) before income tax expense (benefit) 1,858 993 1,795 801 (1,366) (516) 3,565 Income tax expense (benefit) 465 249 459 198 (242) (516) 613 Net income (loss) before noncontrolling interests 1,393 744 1,336 603 (1,124) — 2,952 Less: Net income (loss) from noncontrolling interests — 3 — — (170) — (167) Net income (loss) $ 1,393 741 1,336 603 (954) — 3,119 Quarter ended June 30, 2021 Net interest income (2) $ 5,618 1,202 1,783 610 (304) (109) 8,800 Noninterest income 3,068 906 1,555 2,926 3,327 (312) 11,470 Total revenue 8,686 2,108 3,338 3,536 3,023 (421) 20,270 Provision for credit losses (367) (382) (501) 24 (34) — (1,260) Noninterest expense 6,202 1,443 1,805 2,891 1,000 — 13,341 Income (loss) before income tax expense (benefit) 2,851 1,047 2,034 621 2,057 (421) 8,189 Income tax expense (benefit) 713 261 513 156 223 (421) 1,445 Net income before noncontrolling interests 2,138 786 1,521 465 1,834 — 6,744 Less: Net income (loss) from noncontrolling interests — 2 (2) — 704 — 704 Net income $ 2,138 784 1,523 465 1,130 — 6,040 Six months ended June 30, 2022 Net interest income (2) $ 12,368 2,941 4,047 1,715 (1,437) (215) 19,419 Noninterest income 4,702 1,878 2,996 5,747 692 (814) 15,201 Total revenue 17,070 4,819 7,043 7,462 (745) (1,029) 34,620 Provision for credit losses 423 (323) (258) (44) (5) — (207) Noninterest expense 12,431 3,009 3,823 6,086 1,404 — 26,753 Income (loss) before income tax expense (benefit) 4,216 2,133 3,478 1,420 (2,144) (1,029) 8,074 Income tax expense (benefit) 1,053 529 884 352 (469) (1,029) 1,320 Net income (loss) before noncontrolling interests 3,163 1,604 2,594 1,068 (1,675) — 6,754 Less: Net income (loss) from noncontrolling interests — 6 — — (42) — (36) Net income (loss) $ 3,163 1,598 2,594 1,068 (1,633) — 6,790 Six months ended June 30, 2021 Net interest income (2) $ 11,233 2,456 3,562 1,267 (694) (216) 17,608 Noninterest income 6,107 1,733 3,380 5,813 4,744 (583) 21,194 Total revenue 17,340 4,189 6,942 7,080 4,050 (799) 38,802 Provision for credit losses (786) (781) (785) (19) 63 — (2,308) Noninterest expense 12,469 3,073 3,638 5,919 2,231 — 27,330 Income (loss) before income tax expense (benefit) 5,657 1,897 4,089 1,180 1,756 (799) 13,780 Income tax expense (benefit) 1,415 473 1,013 296 (52) (799) 2,346 Net income before noncontrolling interests 4,242 1,424 3,076 884 1,808 — 11,434 Less: Net income (loss) from noncontrolling interests — 3 (2) — 757 — 758 Net income $ 4,242 1,421 3,078 884 1,051 — 10,676 (continued on following page) (continued from previous page) Consumer Banking and Lending Commercial Banking Corporate and Investment Banking Wealth and Investment Management Corporate Reconciling Items (1) Consolidated Quarter ended June 30, 2022 Loans (average) $ 330,859 202,019 298,694 85,912 9,083 — 926,567 Assets (average) 379,194 223,890 564,306 92,575 642,606 — 1,902,571 Deposits (average) 898,650 188,286 164,860 173,670 20,327 — 1,445,793 Six months ended June 30, 2022 Loans (average) $ 327,973 198,228 291,635 85,342 9,187 — 912,365 Assets (average) 377,043 219,438 557,891 91,713 664,850 — 1,910,935 Deposits (average) 890,042 194,458 167,009 179,708 23,665 — 1,454,882 Loans (period-end) 335,732 205,241 308,286 85,342 9,133 — 943,734 Assets (period-end) 380,353 229,454 567,733 91,944 611,658 — 1,881,142 Deposits (period-end) 892,373 183,145 162,439 165,633 21,563 — 1,425,153 Quarter ended June 30, 2021 Loans (average) $ 331,892 178,572 252,422 81,784 10,077 — 854,747 Assets (average) 388,617 195,453 513,414 87,766 754,629 — 1,939,879 Deposits (average) 835,752 192,586 190,810 174,980 41,696 — 1,435,824 Six months ended June 30, 2021 Loans (average) $ 342,428 180,845 249,302 81,314 10,152 — 864,041 Assets (average) 398,530 197,396 512,476 87,562 741,203 — 1,937,167 Deposits (average) 812,723 190,984 192,645 174,333 44,080 — 1,414,765 Loans (period-end) 326,760 178,905 253,259 82,783 10,593 — 852,300 Assets (period-end) 382,464 196,421 516,518 88,678 761,915 — 1,945,996 Deposits (period-end) 840,434 197,461 188,219 174,267 40,091 — 1,440,472 (1) Taxable-equivalent adjustments related to tax-exempt income on certain loans and debt securities are included in net interest income, while taxable-equivalent adjustments related to income tax credits for low-income housing and renewable energy investments are included in noninterest income, in each case with corresponding impacts to income tax expense (benefit). Adjustments are included in Corporate, Commercial Banking, and Corporate and Investment Banking and are eliminated to reconcile to the Company’s consolidated financial results. (2) Net interest income is interest earned on assets minus the interest paid on liabilities to fund those assets. Segment interest earned includes actual interest income on segment assets as well as a funding credit for their deposits. Segment interest paid on liabilities includes actual interest expense on segment liabilities as well as a funding charge for their assets. |
Regulatory Capital Requirements
Regulatory Capital Requirements and Other Restrictions | 6 Months Ended |
Jun. 30, 2022 | |
Regulatory Capital Requirements and Other Restrictions [Abstract] | |
Regulatory Capital Requirements and Other Restrictions | Note 23: Regulatory Capital Requirements and Other Restrictions Regulatory Capital Requirements The Company and each of its subsidiary banks are subject to regulatory capital adequacy requirements promulgated by federal banking regulators. The FRB 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 23.1 presents regulatory capital information for Wells Fargo & Company and the Bank in accordance with Basel III capital requirements. We must calculate our risk-based capital ratios under both the Standardized and Advanced Approaches. 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. At June 30, 2022, the Bank and our other insured depository institutions were considered well-capitalized under the requirements of the Federal Deposit Insurance Act. Table 23.1: Regulatory Capital Information Wells Fargo & Company Wells Fargo Bank, N.A. Standardized Approach Advanced Approach Standardized Approach Advanced Approach (in millions, except ratios) June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 Regulatory capital: Common Equity Tier 1 $ 130,068 140,643 130,068 140,643 140,383 149,318 140,383 149,318 Tier 1 149,116 159,671 149,116 159,671 140,383 149,318 140,383 149,318 Total 183,620 196,308 174,783 186,580 163,090 173,044 154,279 163,213 Assets: Risk-weighted assets 1,253,618 1,239,026 1,121,572 1,116,068 1,182,778 1,137,839 1,001,559 965,511 Adjusted average assets 1,874,291 1,915,585 1,874,291 1,915,585 1,713,716 1,758,479 1,713,716 1,758,479 Regulatory capital ratios: Common Equity Tier 1 capital 10.38 % * 11.35 11.60 12.60 11.87 * 13.12 14.02 15.47 Tier 1 capital 11.89 * 12.89 13.30 14.31 11.87 * 13.12 14.02 15.47 Total capital 14.65 * 15.84 15.58 16.72 13.79 * 15.21 15.40 16.90 Required minimum capital ratios: Common Equity Tier 1 capital 9.10 9.60 8.50 9.00 7.00 7.00 7.00 7.00 Tier 1 capital 10.60 11.10 10.00 10.50 8.50 8.50 8.50 8.50 Total capital 12.60 13.10 12.00 12.50 10.50 10.50 10.50 10.50 Wells Fargo & Company Wells Fargo Bank, N.A. June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 Regulatory leverage: Total leverage exposure (1) $ 2,250,127 2,316,079 2,079,470 2,133,798 Supplementary leverage ratio (SLR) (1) 6.63 % 6.89 6.75 7.00 Tier 1 leverage ratio (2) 7.96 8.34 8.19 8.49 Required minimum leverage: Supplementary leverage ratio 5.00 5.00 6.00 6.00 Tier 1 leverage ratio 4.00 4.00 4.00 4.00 * Denotes the binding ratio under the Standardized and Advanced Approaches at June 30, 2022. (1) The 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. (2) The tier 1 leverage ratio consists of tier 1 capital divided by total average assets, excluding goodwill and certain other items as determined under the rule. At June 30, 2022, the Common Equity Tier 1 (CET1), tier 1 and total capital ratio requirements for the Company included a global systemically important bank (G-SIB) surcharge of 1.50%. The G-SIB surcharge is not applicable to the Bank. In addition, the CET1, tier 1 and total capital ratio requirements for the Company included a stress capital buffer of 3.10% under the Standardized Approach and a capital conservation buffer of 2.50% under the Advanced Approach. The capital ratio requirements for the Bank included a capital conservation buffer of 2.50% under both the Standardized and Advanced Approaches. The Company is required to maintain these risk-based capital ratios and to maintain an SLR of at least 5.00% (composed of a 3.00% minimum requirement plus a supplementary leverage buffer of 2.00%) to avoid restrictions on capital distributions and discretionary bonus payments. The Bank is required to maintain an SLR of at least 6.00% to be considered well-capitalized under applicable regulatory capital adequacy rules. Capital Planning Requirements The FRB’s c apital plan rule establishes capital planning and other requirements that govern capital distributions, including dividends and share repurchases, by certain large bank holding companies (BHCs), including Wells Fargo. The FRB conducts an annual Comprehensive Capital Analysis and Review exercise and 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 Parent’s ability to make certain capital distributions is subject to the requirements of the capital plan rule and is also subject to the Parent meeting or exceeding certain regulatory capital minimums. Loan and Dividend Restrictions Federal law restricts the amount and the terms of both credit and non-credit transactions between a bank and its nonbank affiliates. Additionally, federal laws and regulations limit the dividends that a national bank may pay. 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 subsidiaries of the Parent designated from time to time as material entities for resolution planning purposes or identified from time to time 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. For additional information on loan and dividend restrictions, see Note 28 (Regulatory Capital Requirements and Other Restrictions) in our 2021 Form 10-K. Cash Restrictions Cash and cash equivalents may be restricted as to usage or withdrawal. Table 23.2 provides a summary of restrictions on cash and cash equivalents . Table 23.2: Nature of Restrictions on Cash and Cash Equivalents (in millions) Jun 30, Dec 31, Reserve balance for non-U.S. central banks $ 255 382 Segregated for benefit of brokerage customers under federal and other brokerage regulations 739 830 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
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. We also hold a majority interest in a real estate investment trust, which has publicly traded preferred stock outstanding. Our accounting and reporting policies conform with U.S. generally accepted accounting principles (GAAP) and practices in the financial services industry. For discussion of our significant accounting policies, see Note 1 (Summary of Significant Accounting Policies) in our Annual Report on Form 10-K for the year ended December 31, 2021 (2021 Form 10-K). There were no material changes to these policies in the first half of 2022. |
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 4 (Loans and Related Allowance for Credit Losses)); • valuations of residential mortgage servicing rights (MSRs) (Note 8 (Securitizations and Variable Interest Entities) and Note 9 (Mortgage Banking Activities)); • valuations of financial instruments (Note 15 (Fair Values of Assets and Liabilities)); • liabilities for contingent litigation losses (Note 13 (Legal Actions)); • income taxes; and • goodwill impairment (Note 10 (Intangible Assets)). Actual results could differ from those estimates. These unaudited interim financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the periods presented. These adjustments are of a normal recurring nature, unless otherwise disclosed in this Form 10-Q. The results of operations in the interim financial statements do not necessarily indicate the results that may be expected for the full year. The interim financial information should be read in conjunction with our 2021 Form 10-K. |
Accounting Standards Adopted in 2022 | Accounting Standards Adopted in 2022 In 2022, we adopted the following new accounting guidance: • Accounting Standards Update (ASU or Update) 2020-06 – Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity • ASU 2021-05 – Leases (Topic 842): Lessors – Certain Leases with Variable Lease Payments |
Subsequent Events | Subsequent Events |
Accounting Standards Update 2020-06 [Member] | |
Significant Accounting Policies [Line Items] | |
Accounting Standards Adopted in 2022 | ASU 2020-06 simplifies the accounting for convertible financial instruments that embody characteristics of debt and equity by (1) eliminating accounting models for convertible financial instruments with cash conversion and beneficial conversion features within Accounting Standards Codification (ASC) 470-20, (2) removing three equity classification requirements for a contract in an entity's own equity to qualify for the derivative scope exception in ASC Subtopic 815-40, and (3) prescribing the method used for computing earnings per share. We adopted this Update prospectively in first quarter 2022. This Update did not have a material impact to our consolidated financial statements. |
Accounting Standards Update 2021-05 Prospective [Member] | |
Significant Accounting Policies [Line Items] | |
Accounting Standards Adopted in 2022 | ASU 2021-05 amends ASC 842 Topic – Leases and provides specific guidance for lessors whose leases include variable lease payments that are not dependent on a reference index or rate and otherwise would have resulted in the recognition of a loss at lease commencement (a day 1 loss). Prior to ASU 2016-02, variable lease payments were excluded from the definition of lease payments for lessors measuring their net investment loss in a sales-type lease or direct financing lease. This often resulted in a day 1 loss, even if the lessor expected the arrangement to be profitable overall. We adopted this Update prospectively in first quarter 2022. This Update did not have a material impact to our consolidated financial statements. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
Supplemental Cash Flow Information | Supplemental Cash Flow Information Significant noncash activities are presented in Table 1.1. Table 1.1: Supplemental Cash Flow Information Six months ended June 30, (in millions) 2022 2021 Available-for-sale debt securities purchased from securitization of LHFS (1) $ 1,506 — Held-to-maturity debt securities purchased from securitization of LHFS (1) 693 16,462 Transfers from loans to LHFS 4,970 11,551 Transfers from available-for-sale debt securities to held-to-maturity debt securities 43,041 41,298 (1) Predominantly represents agency mortgage-backed securities purchased upon settlement of the sale and securitization of our conforming residential mortgage loans. See Note 8 (Securitizations and Variable Interest Entities) for additional information. |
Trading Activities (Tables)
Trading Activities (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Trading Activities [Abstract] | |
Trading Assets and Liabilities | Table 2.1 presents a summary of our trading assets and liabilities measured at fair value through earnings. Table 2.1: Trading Assets and Liabilities (in millions) Jun 30, Dec 31, Trading assets: Debt securities $ 89,157 88,265 Equity securities (1) 25,930 27,476 Loans held for sale 1,913 3,242 Gross trading derivative assets (1) 67,487 48,325 Netting (2) (43,871) (28,146) Total trading derivative assets 23,616 20,179 Total trading assets 140,616 139,162 Trading liabilities: Short sale 22,116 20,685 Other liabilities 518 — Gross trading derivative liabilities (1) 58,182 42,449 Netting (2) (42,222) (33,978) Total trading derivative liabilities 15,960 8,471 Total trading liabilities $ 38,594 29,156 (1) In first quarter 2022, we prospectively reclassified certain equity securities and related economic hedge derivatives from “not held for trading activities” to “held for trading activities” to better reflect the business activity of those financial instruments. For additional information on Trading Activities, see Note 1 (Summary of Significant Accounting Policies) in our 2021 Form 10-K. (2) 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) from Trading Activities | Table 2.2 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 2.2: Net Interest Income and Net Gains (Losses) from Trading Activities Quarter ended June 30, Six months ended June 30, (in millions) 2022 2021 2022 2021 Interest income: Debt securities $ 549 496 $ 1,097 1,025 Equity securities (1) 139 93 259 196 Loans held for sale 9 3 20 15 Total interest income 697 592 1,376 1,236 Less: Interest expense 158 105 290 215 Net interest income 539 487 1,086 1,021 Net gains (losses) from trading activities (2): Debt securities (3,103) 769 (6,751) (1,337) Equity securities (1) (3,606) 856 (4,430) 2,009 Loans held for sale 1 15 10 39 Other liabilities 11 — 23 — Derivatives (1)(3) 7,143 (1,619) 11,812 (342) Total net gains from trading activities 446 21 664 369 Total trading-related net interest and noninterest income $ 985 508 $ 1,750 1,390 (1) In first quarter 2022, we prospectively reclassified certain equity securities and related economic hedge derivatives from “not held for trading activities” to “held for trading activities” to better reflect the business activity of those financial instruments. For additional information on Trading Activities, see Note 1 (Summary of Significant Accounting Policies) in our 2021 Form 10-K. (2) Represents realized gains (losses) from our trading activities and unrealized gains (losses) due to changes in fair value of our trading positions. (3) 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) | 6 Months Ended |
Jun. 30, 2022 | |
AFS and HTM Debt Securities [Abstract] | |
Available-for-Sale and Held-to-Maturity Debt Securities Outstanding | Table 3.1 provides the amortized cost, net of the allowance for credit losses (ACL) for debt securities, and fair value by major categories of available-for-sale (AFS) debt securities, which are carried at fair value, and held-to-maturity (HTM) debt securities, which are carried at amortized cost, net of the ACL. The net unrealized gains (losses) for AFS debt securities are reported as a component of accumulated other comprehensive income (AOCI), net of the ACL and applicable income taxes. Information on debt securities held for trading is included in Note 2 (Trading Activities). Outstanding balances exclude accrued interest receivable on AFS and HTM debt securities, which are included in other assets. See Note 7 (Other Assets) for additional information on accrued interest receivable. Amounts considered to be uncollectible are reversed through interest income. The interest income reversed in the second quarter and first half of both 2022 and 2021 was insignificant. Table 3.1: Available-for-Sale and Held-to-Maturity Debt Securities Outstanding (in millions) Amortized Gross Gross Fair value June 30, 2022 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ 48,772 37 (2,294) 46,515 Non-U.S. government securities 166 — — 166 Securities of U.S. states and political subdivisions (2) 12,444 45 (413) 12,076 Federal agency mortgage-backed securities 59,559 13 (3,377) 56,195 Non-agency mortgage-backed securities (3) 3,917 4 (117) 3,804 Collateralized loan obligations 4,513 — (104) 4,409 Other debt securities 2,620 91 (44) 2,667 Total available-for-sale debt securities 131,991 190 (6,349) 125,832 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies 16,198 — (1,232) 14,966 Securities of U.S. states and political subdivisions 32,483 28 (3,812) 28,699 Federal agency mortgage-backed securities 219,972 — (23,737) 196,235 Non-agency mortgage-backed securities (3) 1,220 — (121) 1,099 Collateralized loan obligations 30,183 1 (760) 29,424 Other debt securities 1,727 — (106) 1,621 Total held-to-maturity debt securities 301,783 29 (29,768) 272,044 Total $ 433,774 219 (36,117) 397,876 December 31, 2021 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ 39,668 185 (192) 39,661 Non-U.S. government securities 71 — — 71 Securities of U.S. states and political subdivisions (2) 16,618 350 (51) 16,917 Federal agency mortgage-backed securities 104,661 1,807 (582) 105,886 Non-agency mortgage-backed securities (3) 4,515 32 (15) 4,532 Collateralized loan obligations 5,713 2 (7) 5,708 Other debt securities 4,217 259 (7) 4,469 Total available-for-sale debt securities 175,463 2,635 (854) 177,244 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies 16,544 599 (318) 16,825 Securities of U.S. states and political subdivisions 32,689 847 (61) 33,475 Federal agency mortgage-backed securities 188,909 1,882 (2,807) 187,984 Non-agency mortgage-backed securities (3) 1,082 31 (18) 1,095 Collateralized loan obligations 31,067 194 (2) 31,259 Other debt securities 1,731 17 — 1,748 Total held-to-maturity debt securities 272,022 3,570 (3,206) 272,386 Total $ 447,485 6,205 (4,060) 449,630 (1) Represents amortized cost of the securities, net of the ACL of $9 million and $8 million related to AFS debt securities and $83 million and $96 million related to HTM debt securities at June 30, 2022, and December 31, 2021, respectively. (2) 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, net of the ACL, and fair value of these types of securities, was $5.4 billion at June 30, 2022, and $5.2 billion at December 31, 2021. (3) Predominantly consists of commercial mortgage-backed securities at both June 30, 2022, and December 31, 2021. |
Held-to-Maturity Debt Securities Purchases and Transfers | Table 3.2 details the breakout of purchases of and transfers to HTM debt securities by major category of security. Table 3.2: Held-to-Maturity Debt Securities Purchases and Transfers Quarter ended June 30, Six months ended June 30, (in millions) 2022 2021 2022 2021 Purchases of held-to-maturity debt securities (1): Securities of U.S. states and political subdivisions $ 9 1,173 $ 843 3,083 Federal agency mortgage-backed securities — 24,855 2,051 49,722 Non-agency mortgage-backed securities 55 55 159 84 Collateralized loan obligations — 3,385 — 7,338 Total purchases of held-to-maturity debt securities 64 29,468 3,053 60,227 Transfers from available-for-sale debt securities to held-to-maturity debt securities (2): Federal agency mortgage-backed securities 28,390 24,681 43,041 41,298 Total transfers from available-for-sale debt securities to held-to-maturity debt securities $ 28,390 24,681 $ 43,041 41,298 (1) Inclusive of securities purchased but not yet settled and noncash purchases from securitization of loans held for sale (LHFS). (2) Represents fair value as of the date of the transfers. Debt securities transferred from available-for-sale to held-to-maturity had pre-tax unrealized losses recorded in AOCI of $3.5 billion and $3.9 billion in the second quarter and first half of 2022, respectively, and $269 million and $615 million in the second quarter and first half of 2021, respectively, at the time of the transfers. |
Income Statement Impacts for Available-for-Sale and Held-to-Maturity Debt Securities | Table 3.3 shows the composition of interest income, provision for credit losses, and gross realized gains and losses from sales and impairment write-downs included in earnings related to AFS and HTM debt securities (pre-tax) . Table 3.3: Income Statement Impacts for Available-for-Sale and Held-to-Maturity Debt Securities Quarter ended June 30, Six months ended June 30, (in millions) 2022 2021 2022 2021 Interest income (1): Available-for-sale $ 683 655 $ 1,385 1,466 Held-to-maturity 1,470 1,048 2,783 2,020 Total interest income 2,153 1,703 4,168 3,486 Provision for credit losses: Available-for-sale 3 (10) 4 12 Held-to-maturity (1) (11) (14) 36 Total provision for credit losses 2 (21) (10) 48 Realized gains and losses (2): Gross realized gains 247 1 249 152 Gross realized losses (104) (1) (104) (1) Net realized gains $ 143 — $ 145 151 (1) Excludes interest income from trading debt securities, which is disclosed in Note 2 (Trading Activities). (2) Realized gains and losses relate to AFS debt securities. There were no realized gains or losses from HTM debt securities in all periods presented. |
Investment Grade Debt Securities | Table 3.4 shows the percentage of fair value of AFS debt securities and amortized cost of HTM debt securities determined to be rated investment grade, inclusive of securities rated based on internal credit grades. Table 3.4: Investment Grade Debt Securities Available-for-Sale Held-to-Maturity ($ in millions) Fair value % investment grade Amortized cost % investment grade June 30, 2022 Total portfolio (1) $ 125,832 99 % $ 301,866 99 % Breakdown by category: Securities of U.S. Treasury and federal agencies (2) $ 102,710 100 % $ 236,170 100 % Securities of U.S. states and political subdivisions 12,076 99 32,498 100 Collateralized loan obligations (3) 4,409 100 30,228 100 All other debt securities (4) 6,637 89 2,970 61 December 31, 2021 Total portfolio (1) $ 177,244 99 % $ 272,118 99 % Breakdown by category: Securities of U.S. Treasury and federal agencies (2) $ 145,547 100 % $ 205,453 100 % Securities of U.S. states and political subdivisions 16,917 99 32,704 100 Collateralized loan obligations (3) 5,708 100 31,128 100 All other debt securities (4) 9,072 88 2,833 64 (1) 98% were rated AA- and above at both June 30, 2022, and December 31, 2021, respectively. (2) Includes federal agency mortgage-backed securities. (3) 100% were rated AA- and above at both June 30, 2022, and December 31, 2021, respectively. (4) Includes non-U.S. government, non-agency mortgage-backed, and all other debt securities. |
Gross Unrealized Losses and Fair Value - Available-for-Sale Debt Securities | Table 3.5 shows the gross unrealized losses and fair value of AFS 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 recorded credit impairment 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 amortized cost basis, net of allowance for credit losses. Table 3.5: Gross Unrealized Losses and Fair Value – Available-for-Sale Debt Securities Less than 12 months 12 months or more Total (in millions) Gross unrealized losses Fair value Gross unrealized losses Fair value Gross unrealized losses Fair value June 30, 2022 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ (2,222) 42,780 (72) 1,741 (2,294) 44,521 Securities of U.S. states and political subdivisions (296) 4,020 (117) 602 (413) 4,622 Federal agency mortgage-backed securities (2,996) 51,990 (381) 2,999 (3,377) 54,989 Non-agency mortgage-backed securities (94) 3,253 (23) 493 (117) 3,746 Collateralized loan obligations (88) 3,857 (16) 552 (104) 4,409 Other debt securities (29) 1,870 (15) 511 (44) 2,381 Total available-for-sale debt securities $ (5,725) 107,770 (624) 6,898 (6,349) 114,668 December 31, 2021 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ (192) 24,418 — — (192) 24,418 Securities of U.S. states and political subdivisions (36) 2,308 (15) 532 (51) 2,840 Federal agency mortgage-backed securities (334) 40,695 (248) 9,464 (582) 50,159 Non-agency mortgage-backed securities (4) 1,966 (11) 543 (15) 2,509 Collateralized loan obligations (3) 1,619 (4) 1,242 (7) 2,861 Other debt securities — — (7) 624 (7) 624 Total available-for-sale debt securities $ (569) 71,006 (285) 12,405 (854) 83,411 |
Contractual Maturities - Available-for-Sale Debt Securities | Table 3.6 and Table 3.7 show the remaining contractual maturities, amortized cost, net of the ACL, fair value and weighted average effective yields of AFS and HTM debt securities, respectively. The remaining contractual principal maturities for mortgage-backed securities (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 3.6: Contractual Maturities – Available-for-Sale Debt Securities By remaining contractual maturity ($ in millions) Total Within After After After June 30, 2022 Available-for-sale debt securities (1): Securities of U.S. Treasury and federal agencies Amortized cost, net $ 48,772 1,977 17,259 27,892 1,644 Fair value 46,515 1,948 16,916 25,983 1,668 Weighted average yield 1.03 % 0.55 0.35 1.45 1.44 Non-U.S. government securities Amortized cost, net $ 166 1 140 25 — Fair value 166 1 140 25 — Weighted average yield 1.14 % 1.49 1.27 0.43 — Securities of U.S. states and political subdivisions Amortized cost, net $ 12,444 1,133 2,779 5,234 3,298 Fair value 12,076 1,132 2,795 4,977 3,172 Weighted average yield 1.94 % 1.77 1.73 1.88 2.28 Federal agency mortgage-backed securities Amortized cost, net $ 59,559 — 241 1,024 58,294 Fair value 56,195 — 236 999 54,960 Weighted average yield 3.05 % — 1.98 2.34 3.06 Non-agency mortgage-backed securities Amortized cost, net $ 3,917 — — 28 3,889 Fair value 3,804 — — 28 3,776 Weighted average yield 2.64 % — — 3.50 2.64 Collateralized loan obligations Amortized cost, net $ 4,513 — 9 4,101 403 Fair value 4,409 — 9 4,013 387 Weighted average yield 2.43 % — 2.74 2.43 2.40 Other debt securities Amortized cost, net $ 2,620 92 247 917 1,364 Fair value 2,667 90 243 914 1,420 Weighted average yield 2.57 % 2.40 2.43 2.42 2.72 Total available-for-sale debt securities Amortized cost, net $ 131,991 3,203 20,675 39,221 68,892 Fair value 125,832 3,171 20,339 36,939 65,383 Weighted average yield 2.15 % 1.03 0.58 1.66 2.95 (1) Weighted average yields displayed by maturity bucket are weighted based on amortized cost without effect for any related hedging derivatives and are shown pre-tax. |
Contractual Maturities - Held-to-Maturity Debt Securities | Table 3.7: Contractual Maturities – Held-to-Maturity Debt Securities By remaining contractual maturity ($ in millions) Total Within After After After June 30, 2022 Held-to-maturity debt securities (1): Securities of U.S. Treasury and federal agencies Amortized cost, net $ 16,198 — 12,413 — 3,785 Fair value 14,966 — 12,249 — 2,717 Weighted average yield 2.18 % — 2.37 — 1.58 Securities of U.S. states and political subdivisions Amortized cost, net $ 32,483 1,657 2,852 2,091 25,883 Fair value 28,699 1,656 2,815 2,061 22,167 Weighted average yield 2.14 % 2.28 1.40 2.37 2.19 Federal agency mortgage-backed securities Amortized cost, net $ 219,972 — — — 219,972 Fair value 196,235 — — — 196,235 Weighted average yield 2.24 % — — — 2.24 Non-agency mortgage-backed securities Amortized cost, net $ 1,220 15 18 49 1,138 Fair value 1,099 14 18 47 1,020 Weighted average yield 3.02 % 3.24 2.93 3.43 3.00 Collateralized loan obligations Amortized cost, net $ 30,183 — — 13,070 17,113 Fair value 29,424 — — 12,881 16,543 Weighted average yield 2.50 % — — 2.60 2.42 Other debt securities Amortized cost, net $ 1,727 — 760 967 — Fair value 1,621 — 729 892 — Weighted average yield 4.47 % — 4.13 4.74 — Total held-to-maturity debt securities Amortized cost, net $ 301,783 1,672 16,043 16,177 267,891 Fair value 272,044 1,670 15,811 15,881 238,682 Weighted average yield 2.26 % 2.29 2.28 2.70 2.24 (1) Weighted average yields displayed by maturity bucket are weighted based on amortized cost, excluding unamortized basis adjustments related to the transfer of certain debt securities from AFS to HTM, and are shown pre-tax. |
Loans and Related Allowance f_2
Loans and Related Allowance for Credit Losses (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |
Loans Outstanding | Table 4.1 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 June 30, 2022, and December 31, 2021. Outstanding balances exclude accrued interest receivable on loans, except for certain revolving loans, such as credit card loans. See Note 7 (Other Assets) for additional information on accrued interest receivable. Amounts considered to be uncollectible are reversed through interest income. During the first half of 2022, we reversed accrued interest receivable of $20 million for our commercial portfolio segment and $65 million for our consumer portfolio segment, compared with $24 million and $104 million, respectively, for the same period a year ago. Table 4.1: Loans Outstanding (in millions) Jun 30, Dec 31, Commercial: Commercial and industrial $ 380,235 350,436 Real estate mortgage 133,411 127,733 Real estate construction 21,743 20,092 Lease financing 14,530 14,859 Total commercial 549,919 513,120 Consumer: Residential mortgage – first lien 252,941 242,270 Residential mortgage – junior lien 14,604 16,618 Credit card 41,222 38,453 Auto 55,658 56,659 Other consumer 29,390 28,274 Total consumer 393,815 382,274 Total loans $ 943,734 895,394 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 4.2 presents total non-U.S. commercial loans outstanding by class of financing receivable. Table 4.2: Non-U.S. Commercial Loans Outstanding (in millions) Jun 30, Dec 31, Non-U.S. commercial loans: Commercial and industrial $ 82,621 77,365 Real estate mortgage 6,442 7,070 Real estate construction 1,619 1,582 Lease financing 696 680 Total non-U.S. commercial loans $ 91,378 86,697 |
Loan Purchases, Sales, and Transfers | Table 4.3 presents the proceeds paid or received for purchases and sales of loans and transfers from loans held for investment to mortgages/loans held for sale. The table excludes loans for which we have elected the fair value option and government insured/guaranteed residential mortgage – first lien loans because their loan activity normally does not impact the ACL. Table 4.3: Loan Purchases, Sales, and Transfers 2022 2021 (in millions) Commercial Consumer Total Commercial Consumer Total Quarter ended June 30, Purchases $ 276 2 278 134 1 135 Sales (689) — (689) (65) — (65) Transfers (to)/from LHFS (62) (14) (76) (359) (99) (458) Six months ended Purchases $ 376 2 378 182 2 184 Sales (1,271) — (1,271) (338) (188) (526) Transfers (to)/from LHFS (41) (23) (64) (794) (36) (830) |
Unfunded Credit Commitments | The contractual amount of our unfunded credit commitments, including unissued letters of credit, is summarized in Table 4.4. The table excludes issued letters of credit and is presented net of commitments syndicated to others, including the fronting arrangements described above. Table 4.4: Unfunded Credit Commitments (in millions) Jun 30, Dec 31, Commercial: Commercial and industrial (1) $ 399,216 388,162 Real estate mortgage 9,350 11,515 Real estate construction 21,178 19,943 Total commercial 429,744 419,620 Consumer: Residential mortgage – first lien 24,929 32,992 Residential mortgage – junior lien 24,142 27,447 Credit card 137,789 130,743 Other consumer (1) 67,339 75,919 Total consumer 254,199 267,101 Total unfunded credit commitments $ 683,943 686,721 (1) In second quarter 2022, we reclassified commitments for securities-based loans from commercial and industrial loan commitments to other consumer loan commitments to align all securities-based loan commitments originated by the Wealth and Investment Management operating segment. Prior period balances have been revised to conform with the current period presentation. |
Allowance for Credit Losses for Loans | Table 4.5 presents the allowance for credit losses (ACL) for loans, which consists of the allowance for loan losses and the allowance for unfunded credit commitments. The ACL for loans decreased $904 million from December 31, 2021, reflecting reduced uncertainty around the economic impact of the COVID-19 pandemic on our loan portfolio. This decrease was partially offset by increased uncertainty related to the risks of high inflation, as well as loan growth. Table 4.5: Allowance for Credit Losses for Loans Quarter ended June 30, Six months ended June 30, ($ in millions) 2022 2021 2022 2021 Balance, beginning of period $ 12,681 18,043 $ 13,788 19,713 Provision for credit losses 578 (1,239) (197) (2,356) Interest income on certain loans (1) (27) (36) (56) (77) Loan charge-offs: Commercial: Commercial and industrial (68) (149) (124) (308) Real estate mortgage (3) (11) (3) (63) Real estate construction — — — — Lease financing (5) (10) (9) (31) Total commercial (76) (170) (136) (402) Consumer: Residential mortgage – first lien (26) (6) (51) (23) Residential mortgage – junior lien (20) (12) (42) (31) Credit card (287) (357) (554) (692) Auto (151) (128) (316) (257) Other consumer (94) (79) (202) (226) Total consumer (578) (582) (1,165) (1,229) Total loan charge-offs (654) (752) (1,301) (1,631) Loan recoveries: Commercial: Commercial and industrial 41 68 120 139 Real estate mortgage 7 16 12 22 Real estate construction — 1 — 1 Lease financing 5 5 10 11 Total commercial 53 90 142 173 Consumer: Residential mortgage – first lien 29 25 57 66 Residential mortgage – junior lien 33 43 73 81 Credit card 88 101 179 200 Auto 83 83 152 160 Other consumer 24 29 49 57 Total consumer 257 281 510 564 Total loan recoveries 310 371 652 737 Net loan charge-offs (344) (381) (649) (894) Other (4) 4 (2) 5 Balance, end of period $ 12,884 16,391 $ 12,884 16,391 Components: Allowance for loan losses $ 11,786 15,148 $ 11,786 15,148 Allowance for unfunded credit commitments 1,098 1,243 1,098 1,243 Allowance for credit losses $ 12,884 16,391 $ 12,884 16,391 Net loan charge-offs as a percentage of average total loans 0.15 % 0.18 0.14 0.21 Allowance for loan losses as a percentage of total loans 1.25 1.78 1.25 1.78 Allowance for credit losses for loans as a percentage of total loans 1.37 1.92 1.37 1.92 (1) Loans with an allowance measured 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 for Loans Activity by Portfolio Segment | Table 4.6 summarizes the activity in the ACL by our commercial and consumer portfolio segments. Table 4.6: Allowance for Credit Losses for Loans Activity by Portfolio Segment 2022 2021 (in millions) Commercial Consumer Total Commercial Consumer Total Quarter ended June 30, Balance, beginning of period $ 7,148 5,533 12,681 10,682 7,361 18,043 Provision for credit losses (32) 610 578 (1,021) (218) (1,239) Interest income on certain loans (1) (7) (20) (27) (15) (21) (36) Loan charge-offs (76) (578) (654) (170) (582) (752) Loan recoveries 53 257 310 90 281 371 Net loan charge-offs (23) (321) (344) (80) (301) (381) Other (4) — (4) 4 — 4 Balance, end of period $ 7,082 5,802 12,884 9,570 6,821 16,391 Six months ended June 30, Balance, beginning of period $ 7,791 5,997 13,788 11,516 8,197 19,713 Provision for credit losses (697) 500 (197) (1,688) (668) (2,356) Interest income on certain loans (1) (16) (40) (56) (34) (43) (77) Loan charge-offs (136) (1,165) (1,301) (402) (1,229) (1,631) Loan recoveries 142 510 652 173 564 737 Net loan charge-offs 6 (655) (649) (229) (665) (894) Other (2) — (2) 5 — 5 Balance, end of period $ 7,082 5,802 12,884 9,570 6,821 16,391 (1) Loans with an allowance measured 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. |
Commercial Loan Categories by Risk Categories and Vintage | Table 4.7 provides the outstanding balances of our commercial loan portfolio by risk category and credit quality information by origination year for term loans. Revolving loans may convert to term loans as a result of a contractual provision in the original loan agreement or if modified in a troubled debt restructuring (TDR). At June 30, 2022, we had $526.5 billion and $23.4 billion of pass and criticized commercial loans, respectively. Table 4.7: Commercial Loan Categories by Risk Categories and Vintage Term loans by origination year Revolving loans Revolving loans converted to term loans Total (in millions) 2022 2021 2020 2019 2018 Prior June 30, 2022 Commercial and industrial Pass $ 38,557 37,325 11,983 16,317 5,329 7,622 252,271 777 370,181 Criticized 548 1,464 737 729 793 749 5,034 — 10,054 Total commercial and industrial 39,105 38,789 12,720 17,046 6,122 8,371 257,305 777 380,235 Real estate mortgage Pass 21,684 34,936 14,144 15,869 11,230 19,604 5,355 12 122,834 Criticized 886 2,151 1,011 2,673 1,379 2,224 253 — 10,577 Total real estate mortgage 22,570 37,087 15,155 18,542 12,609 21,828 5,608 12 133,411 Real estate construction Pass 2,445 6,553 3,859 3,919 1,464 550 1,218 — 20,008 Criticized 285 545 174 467 197 67 — — 1,735 Total real estate construction 2,730 7,098 4,033 4,386 1,661 617 1,218 — 21,743 Lease financing Pass 1,941 3,897 2,536 1,938 1,052 2,144 — — 13,508 Criticized 157 259 191 204 127 84 — — 1,022 Total lease financing 2,098 4,156 2,727 2,142 1,179 2,228 — — 14,530 Total commercial loans $ 66,503 87,130 34,635 42,116 21,571 33,044 264,131 789 549,919 Term loans by origination year Revolving loans Revolving loans converted to term loans Total 2021 2020 2019 2018 2017 Prior December 31, 2021 Commercial and industrial Pass $ 65,562 15,193 20,553 7,400 3,797 13,985 211,452 679 338,621 Criticized 1,657 884 1,237 1,256 685 551 5,528 17 11,815 Total commercial and industrial 67,219 16,077 21,790 8,656 4,482 14,536 216,980 696 350,436 Real estate mortgage Pass 38,196 15,929 19,013 12,618 7,451 16,026 5,411 3 114,647 Criticized 3,462 1,119 2,975 1,834 875 2,421 400 — 13,086 Total real estate mortgage 41,658 17,048 21,988 14,452 8,326 18,447 5,811 3 127,733 Real estate construction Pass 5,895 4,058 4,549 2,167 379 329 1,042 2 18,421 Criticized 510 266 586 234 68 7 — — 1,671 Total real estate construction 6,405 4,324 5,135 2,401 447 336 1,042 2 20,092 Lease financing Pass 4,100 3,012 2,547 1,373 838 1,805 — — 13,675 Criticized 284 246 282 184 86 102 — — 1,184 Total lease financing 4,384 3,258 2,829 1,557 924 1,907 — — 14,859 Total commercial loans $ 119,666 40,707 51,742 27,066 14,179 35,226 223,833 701 513,120 |
Commercial Loan Categories by Delinquency Status | Table 4.8 provides past due information for commercial loans, which we monitor as part of our credit risk management practices; however, delinquency is not a primary credit quality indicator for commercial loans. Table 4.8: Commercial Loan Categories by Delinquency Status (in millions) Commercial Real Real Lease Total June 30, 2022 By delinquency status: Current-29 days past due (DPD) and still accruing $ 376,176 132,008 21,510 14,288 543,982 30-89 DPD and still accruing 2,842 421 230 146 3,639 90+ DPD and still accruing 495 84 — — 579 Nonaccrual loans 722 898 3 96 1,719 Total commercial loans $ 380,235 133,411 21,743 14,530 549,919 December 31, 2021 By delinquency status: Current-29 DPD and still accruing $ 348,033 126,184 19,900 14,568 508,685 30-89 DPD and still accruing 1,217 285 179 143 1,824 90+ DPD and still accruing 206 29 — — 235 Nonaccrual loans 980 1,235 13 148 2,376 Total commercial loans $ 350,436 127,733 20,092 14,859 513,120 |
Consumer Loan Categories by Delinquency Status and Vintage | Table 4.9 provides the outstanding balances of our consumer loan portfolio by delinquency status. Credit quality information is provided with the year of origination for term loans. Revolving loans may convert to term loans as a result of a contractual provision in the original loan agreement or if modified in a TDR. The revolving loans converted to term loans in the credit card loan category represent credit card loans with modified terms that require payment over a specific term. Payment deferral activities in the residential mortgage portfolio instituted in response to the COVID-19 pandemic could continue to delay the recognition of delinquencies for residential mortgage customers who otherwise would have moved into past due status. Table 4.9: Consumer Loan Categories by Delinquency Status and Vintage Term loans by origination year Revolving loans Revolving loans converted to term loans (in millions) 2022 2021 2020 2019 2018 Prior Total June 30, 2022 Residential mortgage – first lien By delinquency status: Current-29 DPD $ 36,321 67,320 38,481 21,788 6,533 65,767 4,231 1,919 242,360 30-59 DPD 116 42 27 25 8 459 14 34 725 60-89 DPD 1 6 6 7 2 140 5 16 183 90-119 DPD 2 1 3 2 1 51 3 8 71 120-179 DPD — 7 4 1 4 79 3 16 114 180+ DPD — 3 25 21 26 576 25 134 810 Government insured/guaranteed loans (1) 1 41 128 146 220 8,142 — — 8,678 Total residential mortgage – first lien 36,441 67,420 38,674 21,990 6,794 75,214 4,281 2,127 252,941 Residential mortgage – junior lien By delinquency status: Current-29 DPD 12 31 18 25 22 591 8,856 4,706 14,261 30-59 DPD — — — — — 9 19 50 78 60-89 DPD — — — — — 4 8 22 34 90-119 DPD — — — — — 3 3 11 17 120-179 DPD — — — — — 4 5 16 25 180+ DPD — — — — — 23 35 131 189 Total residential mortgage – junior lien 12 31 18 25 22 634 8,926 4,936 14,604 Credit cards By delinquency status: Current-29 DPD — — — — — — 40,397 201 40,598 30-59 DPD — — — — — — 186 10 196 60-89 DPD — — — — — — 126 8 134 90-119 DPD — — — — — — 97 6 103 120-179 DPD — — — — — — 188 3 191 180+ DPD — — — — — — — — — Total credit cards — — — — — — 40,994 228 41,222 Auto By delinquency status: Current-29 DPD 11,764 23,554 9,625 6,283 2,225 1,024 — — 54,475 30-59 DPD 54 340 182 130 59 56 — — 821 60-89 DPD 15 118 56 42 18 19 — — 268 90-119 DPD 5 45 20 12 5 6 — — 93 120-179 DPD — 1 — — — — — — 1 180+ DPD — — — — — — — — — Total auto 11,838 24,058 9,883 6,467 2,307 1,105 — — 55,658 Other consumer By delinquency status: Current-29 DPD 2,019 1,606 484 439 116 116 24,407 131 29,318 30-59 DPD 2 6 1 2 1 2 7 6 27 60-89 DPD 1 3 1 1 1 1 5 4 17 90-119 DPD — 3 1 1 — — 4 2 11 120-179 DPD — — — 1 — — 6 1 8 180+ DPD — — — — — 1 1 7 9 Total other consumer 2,022 1,618 487 444 118 120 24,430 151 29,390 Total consumer loans $ 50,313 93,127 49,062 28,926 9,241 77,073 78,631 7,442 393,815 (continued on following page) (continued from previous page) Term loans by origination year Revolving loans Revolving loans converted to term loans (in millions) 2021 2020 2019 2018 2017 Prior Total December 31, 2021 Residential mortgage – first lien By delinquency status: Current-29 DPD $ 69,994 41,527 24,887 7,660 13,734 61,576 5,248 1,673 226,299 30-59 DPD 129 27 30 12 24 418 14 29 683 60-89 DPD 10 7 2 — 3 126 7 15 170 90-119 DPD — 1 1 1 5 53 4 9 74 120-179 DPD 1 16 2 2 1 63 4 14 103 180+ DPD — 62 72 71 92 1,294 36 156 1,783 Government insured/guaranteed loans (1) 14 134 209 349 364 12,088 — — 13,158 Total residential mortgage – first lien 70,148 41,774 25,203 8,095 14,223 75,618 5,313 1,896 242,270 Residential mortgage – junior lien By delinquency status: Current-29 DPD 28 20 30 26 21 700 10,883 4,426 16,134 30-59 DPD — — — — 1 10 29 46 86 60-89 DPD — — — — — 4 10 21 35 90-119 DPD — — — 1 — 3 4 12 20 120-179 DPD — — — — — 5 7 14 26 180+ DPD — — 1 — — 40 59 217 317 Total residential mortgage – junior lien 28 20 31 27 22 762 10,992 4,736 16,618 Credit cards By delinquency status: Current-29 DPD — — — — — — 37,686 192 37,878 30-59 DPD — — — — — — 176 7 183 60-89 DPD — — — — — — 118 5 123 90-119 DPD — — — — — — 98 5 103 120-179 DPD — — — — — — 165 1 166 180+ DPD — — — — — — — — — Total credit cards — — — — — — 38,243 210 38,453 Auto By delinquency status: Current-29 DPD 29,246 12,412 8,476 3,271 1,424 714 — — 55,543 30-59 DPD 220 193 165 81 46 57 — — 762 60-89 DPD 69 67 53 25 14 21 — — 249 90-119 DPD 31 27 22 9 6 8 — — 103 120-179 DPD — 1 1 — — — — — 2 180+ DPD — — — — — — — — — Total auto 29,566 12,700 8,717 3,386 1,490 800 — — 56,659 Other consumer By delinquency status: Current-29 DPD 2,221 716 703 203 107 125 23,988 143 28,206 30-59 DPD 3 2 3 1 — 2 10 4 25 60-89 DPD 2 1 2 1 — 1 5 1 13 90-119 DPD 1 1 2 1 — — 4 — 9 120-179 DPD — — — — — — 8 2 10 180+ DPD — — — — — 1 1 9 11 Total other consumer 2,227 720 710 206 107 129 24,016 159 28,274 Total consumer loans $ 101,969 55,214 34,661 11,714 15,842 77,309 78,564 7,001 382,274 (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 $3.0 billion and $5.7 billion at June 30, 2022, and December 31, 2021, respectively. |
Consumer Loan Categories by FICO and Vintage | Table 4.10 provides the outstanding balances of our consumer loan portfolio by FICO score. Substantially all of the scored consumer portfolio has an updated FICO score of 680 or above. Table 4.10: Consumer Loan Categories by FICO and Vintage Term loans by origination year Revolving loans Revolving loans converted to term loans (in millions) 2022 2021 2020 2019 2018 Prior Total June 30, 2022 By FICO: Residential mortgage – first lien 800+ $ 16,288 41,130 26,393 14,748 4,378 40,390 2,092 591 146,010 760-799 13,513 17,649 8,218 4,503 1,211 11,332 864 319 57,609 720-759 4,643 6,057 2,722 1,726 562 6,408 543 268 22,929 680-719 1,447 1,780 796 546 247 3,585 316 212 8,929 640-679 394 455 207 178 80 1,743 164 148 3,369 600-639 73 113 55 41 28 911 71 80 1,372 < 600 16 25 20 17 19 937 86 126 1,246 No FICO available 66 170 135 85 49 1,766 145 383 2,799 Government insured/guaranteed loans (1) 1 41 128 146 220 8,142 — — 8,678 Total residential mortgage – first lien 36,441 67,420 38,674 21,990 6,794 75,214 4,281 2,127 252,941 Residential mortgage – junior lien 800+ — — — — — 152 4,562 1,646 6,360 760-799 — — — — — 94 1,808 839 2,741 720-759 — — — — — 109 1,158 784 2,051 680-719 — — — — — 90 667 628 1,385 640-679 — — — — — 49 260 330 639 600-639 — — — — — 30 123 186 339 < 600 — — — — — 36 121 208 365 No FICO available 12 31 18 25 22 74 227 315 724 Total residential mortgage – junior lien 12 31 18 25 22 634 8,926 4,936 14,604 Credit card 800+ — — — — — — 4,726 1 4,727 760-799 — — — — — — 6,527 8 6,535 720-759 — — — — — — 8,940 27 8,967 680-719 — — — — — — 9,635 48 9,683 640-679 — — — — — — 6,279 47 6,326 600-639 — — — — — — 2,472 33 2,505 < 600 — — — — — — 2,216 63 2,279 No FICO available — — — — — — 199 1 200 Total credit card — — — — — — 40,994 228 41,222 Auto 800+ 2,083 3,824 1,656 1,290 484 203 — — 9,540 760-799 2,168 4,115 1,652 1,154 393 149 — — 9,631 720-759 2,054 3,833 1,628 1,103 388 162 — — 9,168 680-719 1,992 3,878 1,702 1,028 347 153 — — 9,100 640-679 1,732 3,456 1,313 720 243 124 — — 7,588 600-639 1,088 2,301 802 443 163 100 — — 4,897 < 600 721 2,606 1,116 709 276 203 — — 5,631 No FICO available — 45 14 20 13 11 — — 103 Total auto 11,838 24,058 9,883 6,467 2,307 1,105 — — 55,658 Other consumer 800+ 413 314 110 81 19 40 1,070 19 2,066 760-799 460 332 91 69 17 18 664 17 1,668 720-759 408 315 104 71 21 18 594 26 1,557 680-719 314 268 63 62 20 15 576 18 1,336 640-679 153 153 32 35 12 8 298 20 711 600-639 38 47 10 13 5 4 113 10 240 < 600 13 36 11 16 7 6 99 12 200 No FICO available 223 153 66 97 17 11 1,074 29 1,670 FICO not required — — — — — — 19,942 — 19,942 Total other consumer 2,022 1,618 487 444 118 120 24,430 151 29,390 Total consumer loans $ 50,313 93,127 49,062 28,926 9,241 77,073 78,631 7,442 393,815 (continued on following page) (continued from previous page) Term loans by origination year Revolving loans Revolving loans converted to term loans (in millions) 2021 2020 2019 2018 2017 Prior Total December 31, 2021 By FICO: Residential mortgage – first lien 800+ $ 35,935 27,396 16,583 5,153 9,430 37,495 2,554 469 135,015 760-799 23,645 9,814 5,412 1,464 2,485 10,509 1,073 265 54,667 720-759 7,842 3,083 1,980 642 1,137 6,277 646 238 21,845 680-719 1,986 876 645 283 501 3,682 393 206 8,572 640-679 449 233 187 89 129 1,851 188 146 3,272 600-639 101 63 46 31 41 1,035 102 89 1,508 < 600 15 13 24 19 41 1,083 114 124 1,433 No FICO available 161 162 117 65 95 1,598 243 359 2,800 Government insured/guaranteed loans (1) 14 134 209 349 364 12,088 — — 13,158 Total residential mortgage – first lien 70,148 41,774 25,203 8,095 14,223 75,618 5,313 1,896 242,270 Residential mortgage – junior lien 800+ — — — — — 188 5,512 1,481 7,181 760-799 — — — — — 110 2,154 828 3,092 720-759 — — — — — 130 1,462 790 2,382 680-719 — — — — — 118 881 633 1,632 640-679 — — — — — 65 325 338 728 600-639 — — — — — 39 160 208 407 < 600 — — — — — 43 164 215 422 No FICO available 28 20 31 27 22 69 334 243 774 Total residential mortgage – junior lien 28 20 31 27 22 762 10,992 4,736 16,618 Credit card 800+ — — — — — — 4,247 1 4,248 760-799 — — — — — — 6,053 7 6,060 720-759 — — — — — — 8,475 26 8,501 680-719 — — — — — — 9,136 50 9,186 640-679 — — — — — — 5,850 47 5,897 600-639 — — — — — — 2,298 31 2,329 < 600 — — — — — — 2,067 47 2,114 No FICO available — — — — — — 117 1 118 Total credit card — — — — — — 38,243 210 38,453 Auto 800+ 4,688 1,983 1,680 690 318 108 — — 9,467 760-799 4,967 2,123 1,586 586 234 87 — — 9,583 720-759 4,789 2,104 1,503 583 241 106 — — 9,326 680-719 5,005 2,282 1,441 526 218 111 — — 9,583 640-679 4,611 1,824 1,025 369 160 99 — — 8,088 600-639 3,118 1,114 617 243 117 92 — — 5,301 < 600 2,372 1,236 853 376 193 187 — — 5,217 No FICO available 16 34 12 13 9 10 — — 94 Total auto 29,566 12,700 8,717 3,386 1,490 800 — — 56,659 Other consumer 800+ 450 162 128 34 8 47 1,343 22 2,194 760-799 502 147 117 33 7 22 819 19 1,666 720-759 461 134 115 38 9 18 714 22 1,511 680-719 349 95 99 37 9 15 630 22 1,256 640-679 170 44 55 21 6 8 328 17 649 600-639 42 13 19 9 3 4 117 9 216 < 600 18 12 22 11 3 5 114 12 197 No FICO available 235 113 155 23 62 10 1,236 36 1,870 FICO not required — — — — — — 18,715 — 18,715 Total other consumer 2,227 720 710 206 107 129 24,016 159 28,274 Total consumer loans $ 101,969 55,214 34,661 11,714 15,842 77,309 78,564 7,001 382,274 (1) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. |
Consumer Loan Categories by LTV/CLTV and Vintage | Table 4.11 shows the most updated LTV and CLTV distribution of the residential mortgage – first lien and residential mortgage – junior lien loan portfolios. Table 4.11: Consumer Loan Categories by LTV/CLTV and Vintage Term loans by origination year Revolving loans Revolving loans converted to term loans (in millions) 2022 2021 2020 2019 2018 Prior Total June 30, 2022 Residential mortgage – first lien By LTV: 0-60% $ 11,784 34,740 29,463 17,236 5,325 62,930 3,859 1,959 167,296 60.01-80% 23,853 31,942 8,858 4,411 1,165 3,773 322 129 74,453 80.01-100% 765 555 124 127 51 125 50 24 1,821 100.01-120% (1) — 16 13 5 2 18 7 2 63 > 120% (1) — 10 4 6 — 16 6 2 44 No LTV available 38 116 84 59 31 210 37 11 586 Government insured/guaranteed loans (2) 1 41 128 146 220 8,142 — — 8,678 Total residential mortgage – first lien 36,441 67,420 38,674 21,990 6,794 75,214 4,281 2,127 252,941 Residential mortgage – junior lien By CLTV: 0-60% — — — — — 458 7,514 4,122 12,094 60.01-80% — — — — — 98 1,173 649 1,920 80.01-100% — — — — — 23 187 116 326 100.01-120% (1) — — — — — 4 26 16 46 > 120% (1) — — — — — 1 9 7 17 No CLTV available 12 31 18 25 22 50 17 26 201 Total residential mortgage – junior lien 12 31 18 25 22 634 8,926 4,936 14,604 Total $ 36,453 67,451 38,692 22,015 6,816 75,848 13,207 7,063 267,545 Term loans by origination year Revolving loans Revolving loans converted to term loans 2021 2020 2019 2018 2017 Prior Total December 31, 2021 Residential mortgage – first lien By LTV: 0-60% $ 26,618 22,882 16,063 5,310 11,030 57,880 4,348 1,644 145,775 60.01-80% 42,893 18,188 8,356 2,234 2,647 5,017 674 188 80,197 80.01-100% 486 437 474 147 134 339 157 42 2,216 100.01-120% (1) 10 31 24 11 7 48 33 8 172 > 120% (1) 5 10 10 4 3 35 14 3 84 No LTV available 122 92 67 40 38 211 87 11 668 Government insured/guaranteed loans (2) 14 134 209 349 364 12,088 — — 13,158 Total residential mortgage – first lien 70,148 41,774 25,203 8,095 14,223 75,618 5,313 1,896 242,270 Residential mortgage – junior lien By CLTV: 0-60% — — — — — 475 7,949 3,588 12,012 60.01-80% — — — — — 172 2,329 823 3,324 80.01-100% — — — — — 55 554 241 850 100.01-120% (1) — — — — — 13 104 42 159 > 120% (1) — — — — — 3 35 13 51 No CLTV available 28 20 31 27 22 44 21 29 222 Total residential mortgage – junior lien 28 20 31 27 22 762 10,992 4,736 16,618 Total $ 70,176 41,794 25,234 8,122 14,245 76,380 16,305 6,632 258,888 (1) Reflects total loan balances with LTV/CLTV amounts in excess of 100%. In the event of default, the loss content would generally be limited to only the amount in excess of 100% LTV/CLTV. (2) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. |
Nonaccrual Loans | Table 4.12 provides loans on nonaccrual status. Nonaccrual loans may have an ACL or a negative allowance for credit losses from expected recoveries of amounts previously written off. Customer payment deferral activities in the residential mortgage portfolio instituted in response to the COVID-19 pandemic could continue to delay the recognition of nonaccrual loans for those residential mortgage customers who would have otherwise moved into nonaccrual status. Table 4.12: Nonaccrual Loans Amortized cost Recognized interest income Nonaccrual loans Nonaccrual loans without related allowance for credit losses (1) Six months ended June 30, (in millions) Jun 30, Dec 31, Jun 30, Dec 31, 2022 2021 Commercial: Commercial and industrial $ 722 980 212 190 41 45 Real estate mortgage 898 1,235 39 66 28 33 Real estate construction 3 13 1 5 — 1 Lease financing 96 148 — 9 — — Total commercial 1,719 2,376 252 270 69 79 Consumer: Residential mortgage- first lien 3,322 3,803 2,380 2,722 83 56 Residential mortgage- junior lien 729 801 509 497 28 25 Auto 188 198 — — 14 17 Other consumer 35 34 — — 2 1 Total consumer 4,274 4,836 2,889 3,219 127 99 Total nonaccrual loans $ 5,993 7,212 3,141 3,489 196 178 (1) Nonaccrual loans may not have an allowance for credit losses if the loss expectations are zero given solid collateral value. |
Loans 90 days or More Past Due and Still Accruing | Table 4.13 shows loans 90 days or more past due and still accruing by class for loans not government insured/guaranteed. Table 4.13: Loans 90 Days or More Past Due and Still Accruing ($ in millions) Jun 30, Dec 31, Total: $ 3,653 5,358 Less: FHA insured/VA guaranteed (1) 2,662 4,699 Total, not government insured/guaranteed $ 991 659 By segment and class, not government insured/guaranteed: Commercial: Commercial and industrial $ 495 206 Real estate mortgage 84 29 Real estate construction — — Total commercial 579 235 Consumer: Residential mortgage – first lien 17 37 Residential mortgage – junior lien 5 12 Credit card 294 269 Auto 79 88 Other consumer 17 18 Total consumer 412 424 Total, not government insured/guaranteed $ 991 659 (1) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. |
TDR Modifications | Table 4.14 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 4.14: TDR Modifications Primary modification type (1) Financial effects of modifications ($ in millions) Principal forgiveness Interest Other Total Charge- Weighted Recorded Quarter ended June 30, 2022 Commercial: Commercial and industrial $ — 8 75 83 — 7.09 % $ 8 Real estate mortgage — 5 37 42 — 0.62 5 Real estate construction — — 1 1 — — — Lease financing — — 1 1 — — — Total commercial — 13 114 127 — 4.38 13 Consumer: Residential mortgage – first lien — 106 323 429 1 1.36 106 Residential mortgage – junior lien — 21 27 48 1 2.41 21 Credit card — 63 — 63 — 19.23 63 Auto — 1 8 9 2 4.02 1 Other consumer — 4 — 4 — 11.01 4 Trial modifications (5) — — 41 41 — — — Total consumer — 195 399 594 4 7.47 195 Total $ — 208 513 721 4 7.28 % $ 208 Quarter ended June 30, 2021 Commercial: Commercial and industrial $ — 1 330 331 14 1.22 % $ 1 Real estate mortgage 41 5 86 132 — 1.15 5 Real estate construction — — 2 2 — — — Lease financing — — 1 1 — — — Total commercial 41 6 419 466 14 1.17 6 Consumer: Residential mortgage – first lien — 8 353 361 1 1.26 8 Residential mortgage – junior lien — 2 9 11 — 2.51 2 Credit card — 24 — 24 — 19.02 24 Auto 1 1 72 74 30 3.93 1 Other consumer — 4 — 4 — 12.02 4 Trial modifications (5) — — 2 2 — — — Total consumer 1 39 436 476 31 13.24 39 Total $ 42 45 855 942 45 11.68 % $ 45 (continued on following page) (continued from previous page) Primary modification type (1) Financial effects of modifications ($ in millions) Principal forgiveness Interest Other Total Charge- Weighted Recorded Six months ended June 30, 2022 Commercial: Commercial and industrial $ — 14 148 162 — 8.37 % $ 14 Real estate mortgage — 10 64 74 — 0.99 10 Real estate construction — — 1 1 — — — Lease financing — — 1 1 — — — Total commercial — 24 214 238 — 5.27 24 Consumer: Residential mortgage – first lien 1 166 638 805 2 1.44 166 Residential mortgage – junior lien — 29 48 77 1 2.39 29 Credit card — 133 — 133 — 19.17 133 Auto 1 4 48 53 11 4.64 4 Other consumer — 7 1 8 — 11.31 7 Trial modifications (5) — — 252 252 — — — Total consumer 2 339 987 1,328 14 8.73 339 Total $ 2 363 1,201 1,566 14 8.50 % $ 363 Six months ended June 30, 2021 Commercial: Commercial and industrial $ — 2 560 562 20 1.10 % $ 2 Real estate mortgage 41 9 186 236 — 1.04 9 Real estate construction — — 3 3 — — — Lease financing — — 4 4 — — — Total commercial 41 11 753 805 20 1.05 11 Consumer: Residential mortgage – first lien — 15 885 900 1 1.53 15 Residential mortgage – junior lien — 7 22 29 1 2.44 7 Credit card — 56 — 56 — 18.93 56 Auto 1 2 86 89 37 3.90 2 Other consumer — 11 1 12 — 12.14 11 Trial modifications (5) — — 2 2 — — — Total consumer 1 91 996 1,088 39 13.67 91 Total $ 42 102 1,749 1,893 59 12.31 % $ 102 (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 $132 million and $202 million for the quarters ended June 30, 2022 and 2021, respectively, and $250 million and $458 million for the first half of 2022 and 2021, respectively. (2) Other concessions include loans with payment (principal and/or interest) deferral, 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. The reported amounts include loans that are new TDRs that may have COVID-related payment deferrals and exclude COVID-related payment deferrals on loans previously reported as TDRs given limited current financial effects other than payment deferral. (3) 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. (4) 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. (5) 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 4.15 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 4.15: Defaulted TDRs Recorded investment of defaults Quarter ended June 30, Six months ended June 30, (in millions) 2022 2021 2022 2021 Commercial: Commercial and industrial $ 3 84 $ 52 125 Real estate mortgage 8 9 10 25 Real estate construction — — — — Lease financing — — — — Total commercial 11 93 62 150 Consumer: Residential mortgage – first lien 49 2 56 5 Residential mortgage – junior lien 2 — 2 1 Credit card 8 6 13 16 Auto 7 12 13 23 Other consumer 1 — 1 1 Total consumer 67 20 85 46 Total $ 78 113 $ 147 196 |
Leasing Activity (Tables)
Leasing Activity (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Lessor Disclosure [Abstract] | |
Leasing Revenue | Noninterest income on leases, included in Table 5.1, is included in other noninterest income on our consolidated statement of income. Lease expense, included in other noninterest expense on our consolidated statement of income, was $185 million and $226 million for the quarters ended June 30, 2022 and 2021, respectively, and $373 million and $452 million for the first half of 2022 and 2021, respectively. Table 5.1: Leasing Revenue Quarter ended June 30, Six months ended June 30, (in millions) 2022 2021 2022 2021 Interest income on lease financing $ 152 172 $ 304 353 Other lease revenue: Variable revenue on lease financing 27 25 57 51 Fixed revenue on operating leases 242 254 487 514 Variable revenue on operating leases 14 18 29 36 Other lease-related revenue (1) 50 16 87 27 Noninterest income on leases 333 313 660 628 Total leasing revenue $ 485 485 $ 964 981 (1) Predominantly includes net gains (losses) on disposition of assets leased under operating leases or lease financings. |
Lessee Disclosure [Abstract] | |
Operating Lease Right-of-Use (ROU) Assets and Lease Liabilities | Table 5.2 presents balances for our operating leases. Table 5.2: Operating Lease Right-of-Use (ROU) Assets and Lease Liabilities (in millions) Jun 30, 2022 Dec 31, 2021 ROU assets $ 3,835 3,805 Lease liabilities 4,458 4,476 |
Lease Costs | Table 5.3 provides the composition of our lease costs, which are predominantly included in net occupancy expense. Table 5.3: Lease Costs Quarter ended June 30, Six months ended June 30, (in millions) 2022 2021 2022 2021 Fixed lease expense – operating leases $ 253 265 $ 506 530 Variable lease expense 70 69 143 147 Other (1) (8) (28) (18) (31) Total lease costs $ 315 306 $ 631 646 |
Equity Securities (Tables)
Equity Securities (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Equity Securities [Abstract] | |
Equity Securities | Table 6.1 provides a summary of our equity securities by business purpose and accounting method. Table 6.1: Equity Securities (in millions) Jun 30, Dec 31, Held for trading at fair value: Marketable equity securities (1) $ 16,640 27,476 Nonmarketable equity securities (2)(3) 9,290 — Total equity securities held for trading 25,930 27,476 Not held for trading: Fair value: Marketable equity securities 1,625 2,578 Nonmarketable equity securities (2) 98 9,044 Total equity securities not held for trading at fair value 1,723 11,622 Equity method: Private equity 2,918 3,077 Tax-advantaged renewable energy 4,949 4,740 New market tax credit and other 362 379 Total equity method 8,229 8,196 Other methods: Low-income housing tax credit investments 12,341 12,314 Private equity (4) 9,969 9,694 Federal Reserve Bank stock and other at cost (5) 3,582 3,584 Total equity securities not held for trading 35,844 45,410 Total equity securities $ 61,774 72,886 (1) Represents securities held as part of our customer accommodation trading activities. For additional information on these activities, see Note 2 (Trading Activities). (2) In first quarter 2022, we prospectively reclassified certain equity securities and related economic hedge derivatives from “not held for trading activities” to “held for trading activities” to better reflect the business activity of those financial instruments. For additional information on Trading Activities, see Note 1 (Summary of Significant Accounting Policies) in our 2021 Form 10-K. (3) Represents securities economically hedged with equity derivatives. (4) Represents nonmarketable equity securities accounted for under the measurement alternative, which were predominantly securities associated with our affiliated venture capital business. (5) Substantially all relates to investments in Federal Reserve Bank stock at both June 30, 2022, and December 31, 2021. |
Net Gains (Losses) from Equity Securities Not Held for Trading | Table 6.2 provides a summary of the net gains and losses from equity securities not held for trading, which excludes equity method adjustments for our share of the investee’s earnings or losses that are recognized in other noninterest income. Gains and losses for securities held for trading are reported in net gains from trading and securities. Table 6.2: Net Gains (Losses) from Equity Securities Not Held for Trading Quarter ended June 30, Six months ended June 30, (in millions) 2022 2021 2022 2021 Net gains (losses) from equity securities carried at fair value: Marketable equity securities $ (226) 74 $ (228) 134 Nonmarketable equity securities (1) (16) 893 (38) 535 Total equity securities carried at fair value (242) 967 (266) 669 Net gains (losses) from nonmarketable equity securities not carried at fair value (2): Impairment write-downs (576) (42) (1,014) (57) Net unrealized gains (3) 144 2,037 834 2,262 Net realized gains from sale 59 496 407 551 Total nonmarketable equity securities not carried at fair value (373) 2,491 227 2,756 Net gains (losses) from economic hedge derivatives (1) — (762) — (337) Total net gains (losses) from equity securities not held for trading $ (615) 2,696 $ (39) 3,088 (1) In first quarter 2022, we prospectively reclassified certain equity securities and related economic hedge derivatives from “not held for trading activities” to “held for trading activities” to better reflect the business activity of those financial instruments. For additional information on Trading Activities, see Note 1 (Summary of Significant Accounting Policies) in our 2021 Form 10-K. (2) Includes amounts related to private equity and venture capital investments in consolidated portfolio companies, which are not reported in equity securities on our consolidated balance sheet. (3) Includes unrealized gains (losses) due to observable price changes from equity securities accounted for under the measurement alternative. |
Net Gains (Losses) from Measurement Alternative Equity Securities | Table 6.3 provides additional information about the impairment write-downs and observable price changes from nonmarketable equity securities accounted for under the measurement alternative. Gains and losses related to these adjustments are also included in Table 6.2. Table 6.3: Net Gains (Losses) from Measurement Alternative Equity Securities Quarter ended June 30, Six months ended June 30, (in millions) 2022 2021 2022 2021 Net gains (losses) recognized in earnings during the period: Gross unrealized gains from observable price changes $ 144 2,037 $ 834 2,262 Impairment write-downs (549) (38) (944) (50) Net realized gains from sale 45 195 78 195 Total net gains (losses) recognized during the period $ (360) $ 2,194 $ (32) 2,407 |
Measurement Alternative Cumulative Gains (Losses) | Table 6.4 presents cumulative carrying value adjustments to nonmarketable equity securities accounted for under the measurement alternative that were still held at the end of each reporting period presented. Table 6.4: Measurement Alternative Cumulative Gains (Losses) (in millions) Jun 30, Dec 31, Cumulative gains (losses): Gross unrealized gains from observable price changes $ 6,994 6,278 Gross unrealized losses from observable price changes (3) (3) Impairment write-downs (1,669) (821) |
Other Assets (Tables)
Other Assets (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Other Assets [Abstract] | |
Other Assets | Table 7.1 presents the components of other assets. Table 7.1: Other Assets (in millions) Jun 30, 2022 Dec 31, 2021 Corporate/bank-owned life insurance $ 20,718 20,619 Accounts receivable (1) 30,683 20,831 Interest receivable: AFS and HTM debt securities 1,372 1,360 Loans 2,275 1,950 Trading and other 418 305 Operating lease assets (lessor) 5,946 6,182 Operating lease ROU assets (lessee) 3,835 3,805 Customer relationship and other amortized intangibles 181 211 Foreclosed assets 130 112 Due from customers on acceptances 79 155 Other (2) 15,747 11,729 Total other assets $ 81,384 67,259 (1) Primarily includes derivatives clearinghouse receivables, trade date receivables, and servicer advances. (2) Primarily includes income tax receivables, prepaid expenses, and private equity and venture capital investments in consolidated portfolio companies. |
Securitizations and Variable _2
Securitizations and Variable Interest Entities (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Securitizations and Variable Interest Entities [Abstract] | |
Transfers With Continuing Involvement | Table 8.1 presents information about transfers of assets during the periods presented for which we recorded the transfers as sales and have continuing involvement with the transferred assets. In connection with these transfers, we received proceeds and recorded servicing assets, securities, and loans. Each of these interests are initially measured at fair value. Servicing rights are classified as Level 3 measurements, and generally securities are classified as Level 2. Substantially all transfers were related to residential mortgage securitizations with the GSEs or GNMA and resulted in no gain or loss because the loans are measured at fair value on a recurring basis. Additionally, we may transfer certain government insured loans that we previously repurchased. These loans are carried at the lower of cost or market, and we recognize gains on such transfers when the market value is greater than the carrying value of the loan when it is sold. Table 8.1: Transfers with Continuing Involvement 2022 2021 (in millions) Residential mortgages Commercial mortgages Residential mortgages Commercial mortgages Quarter ended June 30, Assets sold $ 23,817 4,345 45,903 5,173 Proceeds from transfer (1) 23,817 4,411 46,230 5,227 Net gains (losses) on sale — 66 327 54 Continuing involvement (2): Servicing rights recognized $ 313 41 487 24 Securities recognized (3) 475 33 6,171 39 Loans recognized — — — — Six months ended June 30, Assets sold $ 49,991 8,378 86,489 8,364 Proceeds from transfer (1) 50,043 8,508 86,921 8,509 Net gains (losses) on sale 52 130 432 145 Continuing involvement (2): Servicing rights recognized $ 640 70 894 71 Securities recognized (3) 2,062 137 16,394 68 Loans recognized — — 926 — (1) Represents cash proceeds and the fair value of non-cash beneficial interests recognized at securitization settlement. (2) Represents assets or liabilities recognized at securitization settlement date related to our continuing involvement in the transferred assets. (3) Represents debt securities obtained at securitization settlement held for investment purposes that are classified as available-for-sale or held-to-maturity, which predominantly relate to agency securities. Excludes trading debt securities held temporarily for market-marking purposes, which are sold to third parties at or shortly after securitization settlement, of $3.6 billion and $10.3 billion during the second quarter and first half of 2022, respectively, and $11.2 billion and $18.0 billion during the second quarter and first half of 2021, respectively. |
Residential Mortgage Servicing Rights | Table 8.2 presents the key weighted-average assumptions we used to initially measure residential MSRs recognized during the periods presented. Table 8.2: Residential Mortgage Servicing Rights 2022 2021 Quarter ended June 30, Prepayment rate (1) 10.9 % 13.4 Discount rate 8.0 6.1 Cost to service ($ per loan) $ 122 91 Six months ended June 30, Prepayment rate (1) 11.0 % 13.8 Discount rate 7.5 6.0 Cost to service ($ per loan) $ 117 87 (1) 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. |
Loans Serviced for Others | Table 8.3 presents information about loans that we sold or securitized in which we have ongoing involvement as servicer. These are primarily residential mortgage loans sold to the GSEs or GNMA. 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 generally experience a loss only 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 8.3: Loans Serviced for Others Net charge-offs (2) Total loans Delinquent loans and foreclosed assets (1) Six months ended June 30, (in millions) Jun 30, 2022 Dec 31, 2021 Jun 30, 2022 Dec 31, 2021 2022 2021 Commercial $ 122,696 120,962 1,217 1,923 22 122 Residential 673,797 690,813 6,623 10,714 7 12 Total off-balance sheet sold or securitized loans (3) $ 796,493 811,775 7,840 12,637 29 134 (1) Includes $370 million and $403 million of commercial foreclosed assets and $133 million and $129 million of residential foreclosed assets at June 30, 2022 and December 31, 2021, respectively. (2) Net charge-offs exclude loans sold to Federal National Mortgage Association (FNMA), Federal Home Loan Mortgage Corporation (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. (3) At June 30, 2022 and December 31, 2021, the table includes total loans of $719.4 billion and $736.8 billion, delinquent loans of $6.1 billion and $10.2 billion, and foreclosed assets of $104 million and $100 million, respectively, for FNMA, FHLMC and GNMA. |
Unconsolidated VIEs | Table 8.4 provides a summary of our exposure to the unconsolidated VIEs described above, which includes investments in securities, loans, guarantees, liquidity agreements, commitments and certain derivatives. We exclude certain transactions with unconsolidated VIEs when our continuing involvement is temporary or administrative in nature or insignificant in size. In Table 8.4, “Total VIE assets” represents the remaining principal balance of assets held by unconsolidated VIEs using the most current information available. “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. Debt, 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. “Maximum exposure to loss” 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. Table 8.4: Unconsolidated VIEs Carrying value – asset (liability) (in millions) Total Loans Debt Equity securities All other Debt and other liabilities Net assets June 30, 2022 Nonconforming mortgage loan securitizations $ 153,132 — 2,610 — 676 (6) 3,280 Tax credit structures 45,838 1,839 — 12,348 — (4,862) 9,325 Commercial real estate loans 5,475 5,464 — — 11 — 5,475 Other 2,564 376 1 42 29 — 448 Total $ 207,009 7,679 2,611 12,390 716 (4,868) 18,528 Maximum exposure to loss Loans Debt Equity securities All other Debt, guarantees, Total exposure Nonconforming mortgage loan securitizations $ — 2,610 — 676 6 3,292 Tax credit structures 1,839 — 12,348 — 3,993 18,180 Commercial real estate loans 5,464 — — 11 707 6,182 Other 376 1 42 29 229 677 Total $ 7,679 2,611 12,390 716 4,935 28,331 Carrying value – asset (liability) (in millions) Total Loans Debt Equity All other Debt and other liabilities Net assets December 31, 2021 Nonconforming mortgage loan securitizations $ 146,482 — 2,620 — 694 — 3,314 Tax credit structures 44,528 1,904 — 12,322 — (4,941) 9,285 Commercial real estate loans 5,489 5,481 — — 8 — 5,489 Other 3,196 531 3 62 49 (1) 644 Total $ 199,695 7,916 2,623 12,384 751 (4,942) 18,732 Maximum exposure to loss Loans Debt Equity All other Debt, Total exposure Nonconforming mortgage loan securitizations $ — 2,620 — 694 27 3,341 Tax credit structures 1,904 — 12,322 — 3,730 17,956 Commercial real estate loans 5,481 — — 8 710 6,199 Other 531 3 62 49 229 874 Total $ 7,916 2,623 12,384 751 4,696 28,370 (1) Includes $196 million and $352 million of securities classified as trading at June 30, 2022 and December 31, 2021, respectively. (2) All other assets includes mortgage servicing rights, derivative assets, and other assets (predominantly servicing advances). |
Transactions with Consolidated VIEs | Table 8.5 presents a summary of financial assets and liabilities of our consolidated VIEs. The carrying value represents assets and liabilities recorded on our consolidated balance sheet. 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.” On our consolidated balance sheet, we separately disclose (1) the consolidated assets of certain VIEs that can only be used to settle the liabilities of those VIEs, and (2) the consolidated liabilities of certain VIEs for which the VIE creditors do not have recourse to Wells Fargo. Table 8.5: Transactions with Consolidated VIEs Carrying value – asset (liability) (in millions) Total Loans Debt All other Long-term debt All other liabilities (2) June 30, 2022 Commercial and industrial loans and leases $ 6,999 4,471 — 166 — (170) Other 72 — 71 1 — (71) Total consolidated VIEs $ 7,071 4,471 71 167 — (241) December 31, 2021 Commercial and industrial loans and leases $ 7,013 4,099 — 231 — (188) Other 516 377 71 3 (149) (71) Total consolidated VIEs $ 7,529 4,476 71 234 (149) (259) (1) All other assets includes cash and due from banks, interest-earning deposits with banks, derivative assets, equity securities, and other assets. (2) All other liabilities includes short-term borrowings, derivative liabilities, and accrued expenses and other liabilities. |
Mortgage Banking Activities (Ta
Mortgage Banking Activities (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Mortgage Banking Activities [Abstract] | |
Analysis of Changes in Fair Value MSRs | Table 9.1 presents the changes in MSRs measured using the fair value method. Table 9.1: Analysis of Changes in Fair Value MSRs Quarter ended June 30, Six months ended June 30, (in millions) 2022 2021 2022 2021 Fair value, beginning of period $ 8,511 7,536 $ 6,920 6,125 Servicing from securitizations or asset transfers (1) 322 485 664 891 Sales and other (2) (251) (7) (250) (8) Net additions 71 478 414 883 Changes in fair value: Due to valuation inputs or assumptions: Mortgage interest rates (3) 949 (529) 2,648 1,101 Servicing and foreclosure costs (4) (9) — (12) 9 Discount rates 31 160 86 207 Prepayment estimates and other (5) (103) (440) (249) (535) Net changes in valuation inputs or assumptions 868 (809) 2,473 782 Changes due to collection/realization of expected cash flows (6) (287) (488) (644) (1,073) Total changes in fair value 581 (1,297) 1,829 (291) Fair value, end of period $ 9,163 6,717 $ 9,163 6,717 (1) Includes impacts associated with exercising cleanup calls on securitizations and our right to repurchase delinquent loans from GNMA loan securitization pools. 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 in MSRs if related to portfolios with servicing liabilities. In second quarter 2022, MSRs decreased $244 million due to the sale of interest-only strips related to excess servicing cash flows from agency residential mortgage backed securitizations. (3) Includes prepayment rate changes as well as other valuation changes due to changes in mortgage interest rates. (4) Includes costs to service and unreimbursed foreclosure costs. (5) Represents other changes in valuation model inputs or assumptions including prepayment rate estimation changes that are independent of mortgage interest rate changes. (6) Represents the reduction in the MSR fair value for the cash flows expected to be collected during the period, net of income accreted due to the passage of time. |
Economic Assumptions and Sensitivity of Residential MSRs | Table 9.2 provides key economic assumptions and sensitivity of the current fair value of residential MSRs to immediate adverse changes in those assumptions. Amounts for residential MSRs include purchased servicing rights as well as servicing rights resulting from the transfer of loans. See Note 15 (Fair Values of Assets and Liabilities) for additional information on key economic assumptions for residential MSRs. Table 9.2: Economic Assumptions and Sensitivity of Residential MSRs ($ in millions, except cost to service amounts) Jun 30, 2022 Dec 31, 2021 Fair value of interests held $ 9,163 6,920 Expected weighted-average life (in years) 6.2 4.7 Key economic assumptions: Prepayment rate assumption (1) 9.7 % 14.7 Impact on fair value from 10% adverse change $ 319 356 Impact on fair value from 25% adverse change 759 834 Discount rate assumption 8.1 % 6.4 Impact on fair value from 100 basis point increase $ 367 276 Impact on fair value from 200 basis point increase 704 529 Cost to service assumption ($ per loan) 100 106 Impact on fair value from 10% adverse change 177 165 Impact on fair value from 25% adverse change 442 411 (1) 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. |
Managed Servicing Portfolio | We present the components of our managed servicing portfolio in Table 9.3 at unpaid principal balance for loans serviced and subserviced for others and at book value for owned loans serviced. Table 9.3: Managed Servicing Portfolio (in billions) Jun 30, 2022 Dec 31, 2021 Residential mortgage servicing: Serviced and subserviced for others $ 699 718 Owned loans serviced 274 276 Total residential servicing 973 994 Commercial mortgage servicing: Serviced and subserviced for others 595 597 Owned loans serviced 134 130 Total commercial servicing 729 727 Total managed servicing portfolio $ 1,702 1,721 Total serviced for others, excluding subserviced for others $ 1,283 1,304 MSRs as a percentage of loans serviced for others 0.81 % 0.63 Weighted average note rate (mortgage loans serviced for others) 3.89 3.82 |
Mortgage Banking Noninterest Income | Table 9.4 presents the components of mortgage banking noninterest income. Table 9.4: Mortgage Banking Noninterest Income Quarter ended June 30, Six months ended June 30, (in millions) 2022 2021 2022 2021 Servicing fees: Contractually specified servicing fees, late charges and ancillary fees $ 645 692 $ 1,280 1,416 Unreimbursed direct servicing costs (1) (57) (90) (81) (214) Servicing fees 588 602 1,199 1,202 Amortization (2) (64) (33) (123) (98) Changes due to collection/realization of expected cash flows (3) (A) (287) (488) (644) (1,073) Net servicing fees 237 81 432 31 Changes in fair value of MSRs due to valuation inputs or assumptions (4) (B) 868 (809) 2,473 782 Net derivative gains (losses) from economic hedges (5) (980) 707 (2,626) (933) Market-related valuation changes to MSRs, net of hedge results (112) (102) (153) (151) Total net servicing income 125 (21) 279 (120) Net gains on mortgage loan originations/sales (6) 162 1,357 701 2,782 Total mortgage banking noninterest income $ 287 1,336 $ 980 2,662 Total changes in fair value of MSRs carried at fair value (A)+(B) $ 581 (1,297) $ 1,829 (291) (1) Includes costs associated with foreclosures, unreimbursed interest advances to investors, and other interest costs. (2) There was no reversal of impairment on the commercial amortized MSRs in second quarter 2022, and $4 million in the first half of 2022, compared with $37 million reversal of impairment in the second quarter and first half of 2021. (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) Refer to the analysis of changes in fair value MSRs presented in Table 9.1 in this Note for more detail. (5) See Note 14 (Derivatives) for additional discussion and detail on economic hedges. (6) Includes net gains (losses) of $710 million and $2.0 billion in the second quarter and first half of 2022, respectively, and $(420) million and $845 million in the second quarter and first half of 2021, respectively, related to derivatives used as economic hedges of mortgage loans held for sale and derivative loan commitments. |
Intangible Assets (Tables)
Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | Table 10.1 presents the gross carrying value of intangible assets and accumulated amortization. Table 10.1: Intangible Assets June 30, 2022 December 31, 2021 (in millions) Gross carrying value Accumulated amortization Net carrying value Gross carrying value Accumulated amortization Net carrying value Amortized intangible assets (1): MSRs (2) $ 4,872 (3,649) 1,223 4,794 (3,525) 1,269 Customer relationship and other intangibles 754 (573) 181 842 (631) 211 Total amortized intangible assets $ 5,626 (4,222) 1,404 5,636 (4,156) 1,480 Unamortized intangible assets: MSRs (carried at fair value) $ 9,163 6,920 Goodwill 25,178 25,180 (1) Balances are excluded commencing in the period following full amortization. (2) Includes a $4 million valuation allowance recorded for amortized MSRs at December 31, 2021. See Note 9 (Mortgage Banking Activities) for additional information on MSRs. |
Amortization Expense for Intangible Assets | Table 10.2 provides the current year and estimated future amortization expense for amortized intangible assets. We based our projections of amortization expense shown below on existing asset balances at June 30, 2022. Future amortization expense may vary from these projections. Table 10.2: Amortization Expense for Intangible Assets (in millions) Amortized MSRs Customer relationship and other intangibles Total Six months ended June 30, 2022 (actual) $ 123 30 153 Estimate for the remainder of 2022 $ 123 30 153 Estimate for year ended December 31, 2023 220 51 271 2024 192 41 233 2025 169 33 202 2026 135 27 162 2027 105 — 105 |
Goodwill | Table 10.3 shows the allocation of goodwill to our reportable operating segments. Table 10.3: Goodwill (in millions) Consumer Banking and Lending Commercial Banking Corporate and Investment Banking Wealth and Investment Management Corporate Consolidated Company December 31, 2021 $ 16,418 2,938 5,375 344 105 25,180 Foreign currency translation — (2) — — — (2) June 30, 2022 $ 16,418 2,936 5,375 344 105 25,178 |
Guarantees and Other Commitme_2
Guarantees and Other Commitments (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Guarantees [Abstract] | |
Guarantees - Carrying Value and Maximum Exposure to Loss | Table 11.1 shows carrying value and maximum exposure to loss on our guarantees. Table 11.1: 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 June 30, 2022 Standby letters of credit (1) $ 111 15,024 4,797 1,901 475 22,197 6,754 Direct pay letters of credit (1) 11 1,550 2,806 366 5 4,727 1,318 Written options (2) 211 15,819 8,063 1,420 395 25,697 19,602 Loans and LHFS sold with recourse (3) 16 197 1,158 3,578 8,659 13,592 11,619 Exchange and clearing house guarantees — — — — 4,941 4,941 — Other guarantees and indemnifications (4) — 548 1 11 209 769 502 Total guarantees $ 349 33,138 16,825 7,276 14,684 71,923 39,795 December 31, 2021 Standby letters of credit (1) $ 119 13,816 5,260 1,572 460 21,108 6,939 Direct pay letters of credit (1) 6 1,597 2,137 1,283 4 5,021 1,373 Written options (2) (280) 12,107 4,575 513 36 17,231 13,645 Loans and LHFS sold with recourse (3) 20 71 943 3,610 8,650 13,274 11,268 Exchange and clearing house guarantees — — — — 8,100 8,100 — Other guarantees and indemnifications (4) — 797 2 12 263 1,074 756 Total guarantees $ (135) 28,388 12,917 6,990 17,513 65,808 33,981 (1) Standby and direct pay letters of credit are reported net of syndications and participations. (2) Written options, which are in the form of derivatives, are also included in the derivative disclosures in Note 14 (Derivatives). Carrying value net asset position is a result of certain deferred premium option trades. (3) Represents recourse provided, predominantly to the GSEs, on loans sold under various programs and arrangements. (4) Includes indemnifications provided to certain third-party clearing agents. Estimated maximum exposure to loss was $162 million and $216 million with related collateral of $1.1 billion and $2.3 billion as of June 30, 2022 and December 31, 2021, respectively. |
Pledged Assets and Collateral (
Pledged Assets and Collateral (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Transfers and Servicing [Abstract] | |
Pledged Assets | Table 12.1 provides the carrying amount of on-balance sheet pledged assets and the fair value of other pledged collateral. Other pledged collateral is collateral we have received from third parties, have the right to repledge, have repledged and is not recognized on our consolidated balance sheet. 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. 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. All of the collateral we pledge related to trading activity is eligible to be repledged or sold by the secured party. NON-TRADING RELATED ACTIVITY As part of our liquidity management strategy, we may pledge loans, debt securities, and other financial assets to secure trust and public deposits, borrowings and letters of credit from Federal Home Loan Banks (FHLBs) and the Board of Governors of the Federal Reserve System (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. VIE RELATED We pledge assets in connection with various types of transactions entered into with VIEs. These pledged assets can only be used to settle the liabilities of those entities. We also have loans recorded on our consolidated balance sheet which represent certain delinquent loans that are eligible for repurchase from GNMA loan securitizations. See Note 8 (Securitizations and Variable Interest Entities) for additional information on consolidated VIE assets. Table 12.1: Pledged Assets (in millions) Jun 30, Dec 31, Related to trading activities: Repledged third-party owned debt and equity securities $ 34,520 31,087 Trading debt securities and other 22,788 14,216 Equity securities 1,766 984 Total pledged assets related to trading activities 59,074 46,287 Related to non-trading activities: Loans 299,258 288,698 Debt securities: Available-for-sale 64,065 65,198 Held-to-maturity 11,034 13,843 Other financial assets 42 1,600 Total pledged assets related to non-trading activities 374,399 369,339 Related to VIEs: Consolidated VIE assets 4,709 4,781 Loans eligible for repurchase from GNMA securitizations 217 109 Total pledged assets related to VIEs 4,926 4,890 Total pledged assets $ 438,399 420,516 |
Offsetting - Securities Financing Activities | In addition to the amounts included in Table 12.2, we also have balance sheet netting related to derivatives that is disclosed in Note 14 (Derivatives). Table 12.2: Offsetting – Securities Financing Activities (in millions) Jun 30, Dec 31, Assets: Resale and securities borrowing agreements Gross amounts recognized $ 103,668 103,140 Gross amounts offset in consolidated balance sheet (1) (22,938) (14,074) Net amounts in consolidated balance sheet (2) 80,730 89,066 Collateral not recognized in consolidated balance sheet (3) (80,096) (88,330) Net amount (4) $ 634 736 Liabilities: Repurchase and securities lending agreements Gross amounts recognized $ 46,612 35,043 Gross amounts offset in consolidated balance sheet (1) (22,938) (14,074) Net amounts in consolidated balance sheet (5) 23,674 20,969 Collateral pledged but not netted in consolidated balance sheet (6) (23,450) (20,820) Net amount (4) $ 224 149 (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 $55.5 billion and $66.2 billion classified on our consolidated balance sheet in federal funds sold and securities purchased under resale agreements at June 30, 2022, and December 31, 2021, respectively. Also includes securities purchased under long-term resale agreements (generally one year or more) classified in loans, which totaled $25.2 billion and $22.9 billion, at June 30, 2022, and December 31, 2021, 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 June 30, 2022, and December 31, 2021, we have received total collateral with a fair value of $127.7 billion and $124.4 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 $33.2 billion and $28.8 billion at June 30, 2022, and December 31, 2021, respectively. (4) Represents the amount of our exposure (assets) or obligation (liabilities) that is not collateralized and/or is not subject to an enforceable MRA or MSLA. (5) Amount is classified in short-term borrowings on our consolidated balance sheet. |
Gross Obligations by Underlying Collateral Type and Contractual Maturities of Gross Obligations | Table 12.3 provides the gross amounts recognized on the consolidated balance sheet (before the effects of offsetting) of our liabilities for repurchase and securities lending agreements disaggregated by underlying collateral type. Table 12.3: Gross Obligations by Underlying Collateral Type (in millions) Jun 30, Dec 31, Repurchase agreements: Securities of U.S. Treasury and federal agencies $ 24,460 14,956 Securities of U.S. States and political subdivisions 60 1 Federal agency mortgage-backed securities 4,755 3,432 Non-agency mortgage-backed securities 1,056 809 Corporate debt securities 7,129 8,899 Asset-backed securities 532 358 Equity securities 564 919 Other 854 409 Total repurchases 39,410 29,783 Securities lending arrangements: Securities of U.S. Treasury and federal agencies 232 33 Federal agency mortgage-backed securities 28 17 Corporate debt securities 149 80 Equity securities (1) 6,715 5,050 Other 78 80 Total securities lending 7,202 5,260 Total repurchases and securities lending $ 46,612 35,043 (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 12.4 provides the contractual maturities of our gross obligations under repurchase and securities lending agreements. Table 12.4: Contractual Maturities of Gross Obligations (in millions) Overnight/continuous Up to 30 days 30-90 days >90 days Total gross obligation June 30, 2022 Repurchase agreements $ 26,682 5,337 1,957 5,434 39,410 Securities lending arrangements 6,752 — — 450 7,202 Total repurchases and securities lending (1) $ 33,434 5,337 1,957 5,884 46,612 December 31, 2021 Repurchase agreements $ 16,452 3,570 4,276 5,485 29,783 Securities lending arrangements 4,810 — — 450 5,260 Total repurchases and securities lending (1) $ 21,262 3,570 4,276 5,935 35,043 (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) | 6 Months Ended |
Jun. 30, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Notional or Contractual Amounts and Fair Values of Derivatives | Table 14.1 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 our consolidated 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 14.1: Notional or Contractual Amounts and Fair Values of Derivatives June 30, 2022 December 31, 2021 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 $ 215,814 1,142 291 153,993 2,212 327 Commodity contracts 2,251 47 3 1,739 26 3 Foreign exchange contracts 20,105 56 1,685 24,949 281 669 Total derivatives designated as qualifying hedging instruments 1,245 1,979 2,519 999 Derivatives not designated as hedging instruments Economic hedges: Interest rate contracts 89,973 200 121 142,234 40 41 Equity contracts (1) 3,883 — 338 26,263 1,493 1,194 Foreign exchange contracts 34,324 1,175 182 28,192 395 88 Credit contracts 275 15 — 290 7 — Subtotal 1,390 641 1,935 1,323 Customer accommodation trading and other derivatives: Interest rate contracts 9,931,381 29,654 30,376 7,976,534 20,286 17,435 Commodity contracts 112,758 12,884 5,757 74,903 5,939 2,414 Equity contracts (1) 388,726 13,092 10,230 321,863 16,278 17,827 Foreign exchange contracts 892,949 11,877 13,008 560,049 5,912 5,915 Credit contracts 42,677 54 38 38,318 39 43 Subtotal 67,561 59,409 48,454 43,634 Total derivatives not designated as hedging instruments 68,951 60,050 50,389 44,957 Total derivatives before netting 70,196 62,029 52,908 45,956 Netting (45,300) (44,861) (31,430) (36,532) Total $ 24,896 17,168 21,478 9,424 (1) In first quarter 2022, we prospectively reclassified certain equity securities and related economic hedge derivatives from "not held for trading activities" to "held for trading activities" to better reflect the business activity of those financial instruments. For additional information on Trading Activities, see Note 1 (Summary of Significant Accounting Policies) in our 2021 Form 10-K. |
Fair Values of Derivative Assets and Liabilities | Table 14.2 provides information on the fair values of derivative assets and liabilities subject to enforceable master netting arrangements, the balance sheet netting adjustments and the resulting net fair value amount recorded on our consolidated 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 our consolidated balance sheet. We determine the balance sheet netting adjustments based on the terms specified within each master netting arrangement, which are determined at the counterparty level. We do not net non-cash collateral that we receive and pledge on our consolidated balance sheet. For disclosure purposes, we present “Total Derivatives, net” which 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. 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 12 (Pledged Assets and Collateral). Table 14.2: Fair Values of Derivative Assets and Liabilities June 30, 2022 December 31, 2021 (in millions) Derivative Assets Derivative Liabilities Derivative Assets Derivative Liabilities Interest rate contracts Over-the-counter (OTC) $ 27,868 27,274 20,067 16,654 OTC cleared 1,027 1,013 168 192 Exchange traded 313 203 52 28 Total interest rate contracts 29,208 28,490 20,287 16,874 Commodity contracts OTC 10,745 2,942 5,040 1,249 Exchange traded 1,399 2,464 557 1,047 Total commodity contracts 12,144 5,406 5,597 2,296 Equity contracts OTC 5,397 5,109 6,132 9,730 Exchange traded 5,119 3,806 7,493 6,086 Total equity contracts 10,516 8,915 13,625 15,816 Foreign exchange contracts OTC 12,463 13,694 6,335 6,221 Total foreign exchange contracts 12,463 13,694 6,335 6,221 Credit contracts OTC 42 27 32 31 Total credit contracts 42 27 32 31 Total derivatives subject to enforceable master netting arrangements, gross 64,373 56,532 45,876 41,238 Less: Gross amounts offset Counterparty netting (1) (37,266) (37,217) (27,172) (27,046) Cash collateral netting (8,034) (7,644) (4,258) (9,486) Total derivatives subject to enforceable master netting arrangements, net 19,073 11,671 14,446 4,706 Derivatives not subject to enforceable master netting arrangements 5,823 5,497 7,032 4,718 Total derivatives recognized in consolidated balance sheet, net 24,896 17,168 21,478 9,424 Non-cash collateral (2,774) (981) (1,432) (412) Total Derivatives, net $ 22,122 16,187 20,046 9,012 (1) Represents amounts with counterparties subject to enforceable master netting arrangements that have been offset in our consolidated balance sheet, including portfolio level counterparty valuation adjustments related to customer accommodation and other trading derivatives. Counterparty valuation adjustments related to derivative assets were $438 million and $284 million and debit valuation adjustments related to derivative liabilities were $403 million and $158 million as of June 30, 2022, and December 31, 2021, respectively, and were primarily related to interest rate contracts. |
Gains (Losses) Recognized on Fair Value Hedging Relationships | Table 14.3 and Table 14.4 show the net gains (losses) related to derivatives in fair value and cash flow hedging relationships, respectively. Table 14.3: 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 Deposits Long-term debt Other Derivative gains (losses) Derivative gains (losses) Quarter ended June 30, 2022 Total amounts presented in the consolidated statement of income and other comprehensive income $ 2,702 (158) (1,011) 554 N/A (111) Interest contracts Amounts related to interest settlements on derivatives (45) 23 336 — 314 N/A Recognized on derivatives 768 (70) (5,202) — (4,504) — Recognized on hedged items (753) 68 5,128 — 4,443 N/A Total gains (losses) (pre-tax) on interest rate contracts (30) 21 262 — 253 — Foreign exchange contracts Amounts related to interest settlements on derivatives — — (21) — (21) N/A Recognized on derivatives — — (315) (929) (1,244) 46 Recognized on hedged items — — 333 898 1,231 N/A Total gains (losses) (pre-tax) on foreign exchange contracts — — (3) (31) (34) 46 Commodity contracts Recognized on derivatives — — — 228 228 — Recognized on hedged items — — — (217) (217) N/A Total gains (losses) (pre-tax) on commodity contracts — — — 11 11 — Total gains (losses) (pre-tax) recognized on fair value hedges $ (30) 21 259 (20) 230 46 Quarter ended June 30, 2021 Total amounts presented in the consolidated statement of income and other comprehensive income $ 2,199 (92) (712) 692 N/A 37 Interest contracts Amounts related to interest settlements on derivatives (68) 74 541 — 547 N/A Recognized on derivatives (468) (61) 2,453 — 1,924 — Recognized on hedged items 452 62 (2,402) — (1,888) N/A Total gains (losses) (pre-tax) on interest rate contracts (84) 75 592 — 583 — Foreign exchange contracts Amounts related to interest settlements on derivatives 15 — 4 — 19 N/A Recognized on derivatives 2 — (42) 202 162 (14) Recognized on hedged items (1) — 44 (203) (160) N/A Total gains (losses) (pre-tax) on foreign exchange contracts 16 — 6 (1) 21 (14) Commodity contracts Recognized on derivatives — — — (38) (38) — Recognized on hedged items — — — 34 34 N/A Total gains (losses) (pre-tax) on commodity contracts — — — (4) (4) — Total gains (losses) (pre-tax) recognized on fair value hedges $ (68) 75 598 (5) 600 (14) (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 Deposits Long-term debt Other Derivative gains (losses) Derivative gains (losses) Six months ended June 30, 2022 Total amounts presented in the consolidated statement of income and other comprehensive income $ 5,265 (241) (1,772) 1,110 N/A (84) Interest contracts Amounts related to interest settlements on derivatives (86) 64 817 — 795 N/A Recognized on derivatives 2,030 (215) (12,071) — (10,256) — Recognized on hedged items (2,001) 211 11,941 — 10,151 N/A Total gains (losses) (pre-tax) on interest rate contracts (57) 60 687 — 690 — Foreign exchange contracts Amounts related to interest settlements on derivatives — — (17) — (17) N/A Recognized on derivatives — — (771) (1,171) (1,942) 110 Recognized on hedged items — — 778 1,139 1,917 N/A Total gains (losses) (pre-tax) on foreign exchange contracts — — (10) (32) (42) 110 Commodity contracts Recognized on derivatives — — — 136 136 — Recognized on hedged items — — — (130) (130) N/A Total gains (losses) (pre-tax) on commodity contracts — — — 6 6 — Total gains (losses) (pre-tax) recognized on fair value hedges $ (57) 60 677 (26) 654 110 Six months ended June 30, 2021 Total amounts presented in the consolidated statement of income and other comprehensive income $ 4,511 (204) (1,738) 1,674 N/A 84 Interest contracts Amounts related to interest settlements on derivatives (135) 165 1,091 — 1,121 N/A Recognized on derivatives 826 (184) (4,618) — (3,976) — Recognized on hedged items (806) 181 4,542 — 3,917 N/A Total gains (losses) (pre-tax) on interest rate contracts (115) 162 1,015 — 1,062 — Foreign exchange contracts Amounts related to interest settlements on derivatives 43 — 3 — 46 N/A Recognized on derivatives 3 — (269) 509 243 11 Recognized on hedged items (2) — 238 (520) (284) N/A Total gains (losses) (pre-tax) on foreign exchange contracts 44 — (28) (11) 5 11 Commodity contracts Recognized on derivatives — — — 33 33 — Recognized on hedged items — — — (37) (37) N/A Total gains (losses) (pre-tax) on commodity contracts — — — (4) (4) — Total gains (losses) (pre-tax) recognized on fair value hedges $ (71) 162 987 (15) 1,063 11 |
Gains (Losses) Recognized on Cash Flow Hedging Relationships | Table 14.4: Gains (Losses) Recognized on Cash Flow Hedging Relationships Net interest income Total recorded in net income Total recorded in OCI (in millions) Loans Other interest income Long-term debt Derivative gains (losses) Derivative gains (losses) Quarter ended June 30, 2022 Total amounts presented in the consolidated statement of income and other comprehensive income $ 8,116 419 (1,011) N/A (111) Interest rate contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income 11 34 — 45 (45) Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A N/A (101) Total gains (losses) (pre-tax) on interest rate contracts 11 34 — 45 (146) Foreign exchange contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income — — (2) (2) 2 Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A N/A (13) Total gains (losses) (pre-tax) on foreign exchange contracts — — (2) (2) (11) Total gains (losses) (pre-tax) recognized on cash flow hedges $ 11 34 (2) 43 (157) Quarter ended June 30, 2021 Total amounts presented in the consolidated statement of income and other comprehensive income $ 7,095 74 (712) N/A 37 Interest rate contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income (39) — — (39) 39 Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A N/A 10 Total gains (losses) (pre-tax) on interest rate contracts (39) — — (39) 49 Foreign exchange contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income — — (1) (1) 1 Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A N/A 1 Total gains (losses) (pre-tax) on foreign exchange contracts — — (1) (1) 2 Total gains (losses) (pre-tax) recognized on cash flow hedges $ (39) — (1) (40) 51 Six months ended June 30, 2022 Total amounts presented in the consolidated statement of income and other comprehensive income $ 15,334 509 (1,772) N/A (84) Interest rate contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income (5) 38 — 33 (33) Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A N/A (149) Total gains (losses) (pre-tax) on interest rate contracts (5) 38 — 33 (182) Foreign exchange contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income — — (4) (4) 4 Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A N/A (16) Total gains (losses) (pre-tax) on foreign exchange contracts — — (4) (4) (12) Total gains (losses) (pre-tax) recognized on cash flow hedges $ (5) 38 (4) 29 (194) Six months ended June 30, 2021 Total amounts presented in the consolidated statement of income and other comprehensive income $ 14,296 139 (1,738) N/A 84 Interest rate contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income (91) — — (91) 91 Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A N/A (10) Total gains (losses) (pre-tax) on interest rate contracts (91) — — (91) 81 Foreign exchange contracts: Realized gains (losses) (pre-tax) reclassified from OCI into net income — — (2) (2) 2 Net unrealized gains (losses) (pre-tax) recognized in OCI N/A N/A N/A N/A (10) Total gains (losses) (pre-tax) on foreign exchange contracts — — (2) (2) (8) Total gains (losses) (pre-tax) recognized on cash flow hedges $ (91) — (2) (93) 73 |
Hedged Items in Fair Value Hedging Relationships | Table 14.5 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 14.5: Hedged Items in Fair Value Hedging Relationships Hedged items currently designated Hedged items no longer designated (in millions) Carrying amount of assets/(liabilities) (1)(2) Hedge accounting Carrying amount of assets/(liabilities) (2) Hedge accounting basis adjustment June 30, 2022 Available-for-sale debt securities (4) $ 42,006 (2,342) 17,405 840 Other assets 1,718 (115) — — Deposits (6,309) 68 (11) — Long-term debt (131,292) 7,547 (5) — December 31, 2021 Available-for-sale debt securities (4) $ 24,144 (559) 17,962 965 Other assets 1,156 (58) — — Deposits (10,187) (144) — — Long-term debt (138,801) (5,192) — — (1) 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 $765 million and for long-term debt is $0 million as of June 30, 2022, and $873 million for debt securities and $(2.7) billion for long-term debt as of December 31, 2021. (2) 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. (3) The balance includes $62 million and $228 million of debt securities and long-term debt cumulative basis adjustments as of June 30, 2022, respectively, and $136 million and $188 million of debt securities and long-term debt cumulative basis adjustments as of December 31, 2021, respectively, on terminated hedges whereby the hedged items have subsequently been re-designated into existing hedges. |
Gains (Losses) on Derivatives Not Designated as Hedging Instruments | Table 14.6 shows the net gains (losses), recognized by income statement lines, related to derivatives not designated as hedging instruments. Table 14.6: Gains (Losses) on Derivatives Not Designated as Hedging Instruments Noninterest income Noninterest expense (in millions) Mortgage banking Net gains (losses) on trading and securities Other Total Personnel expense Quarter ended June 30, 2022 Net gains (losses) recognized on economic hedges derivatives: Interest contracts (1) $ (270) — (26) (296) — Equity contracts (2) — — 1 1 577 Foreign exchange contracts — — 838 838 — Credit contracts — — 2 2 — Subtotal (270) — 815 545 577 Net gains (losses) recognized on customer accommodation trading and other derivatives: Interest contracts (314) 2,791 — 2,477 — Commodity contracts — 104 — 104 — Equity contracts (2) — 3,901 (76) 3,825 — Foreign exchange contracts — 318 — 318 — Credit contracts — 29 — 29 — Subtotal (314) 7,143 (76) 6,753 — Net gains (losses) recognized related to derivatives not designated as hedging instruments $ (584) 7,143 739 7,298 577 Quarter ended June 30, 2021 Net gains (losses) recognized on economic hedges derivatives: Interest contracts (1) $ 287 — 14 301 — Equity contracts — (762) (4) (766) (239) Foreign exchange contracts — — (90) (90) — Credit contracts — — (5) (5) — Subtotal 287 (762) (85) (560) (239) Net gains (losses) recognized on customer accommodation trading and other derivatives: Interest contracts 482 (594) — (112) — Commodity contracts — (36) — (36) — Equity contracts — (922) (304) (1,226) — Foreign exchange contracts — (24) — (24) — Credit contracts — (43) — (43) — Subtotal 482 (1,619) (304) (1,441) — Net gains (losses) recognized related to derivatives not designated as hedging instruments $ 769 (2,381) (389) (2,001) (239) (continued on following page) (continued from previous page) Noninterest income Noninterest expense (in millions) Mortgage banking Net gains (losses) from trading and securities Other Total Personnel expense Six months ended June 30, 2022 Net gains (losses) recognized on economic hedges derivatives: Interest contracts (1) $ (638) — (52) (690) — Equity contracts (2) — — 9 9 843 Foreign exchange contracts — — 1,069 1,069 — Credit contracts — — 7 7 — Subtotal (638) — 1,033 395 843 Net gains (losses) recognized on customer accommodation trading and other derivatives: Interest contracts (812) 6,005 — 5,193 — Commodity contracts — 217 — 217 — Equity contracts (2) — 4,904 (114) 4,790 — Foreign exchange contracts — 645 — 645 — Credit contracts — 41 — 41 — Subtotal (812) 11,812 (114) 10,886 — Net gains (losses) recognized related to derivatives not designated as hedging instruments $ (1,450) 11,812 919 11,281 843 Six months ended June 30, 2021 Net gains (losses) recognized on economic hedges derivatives: Interest contracts (1) $ (88) — (6) (94) — Equity contracts — (337) 1 (336) (399) Foreign exchange contracts — — (19) (19) — Credit contracts — — (5) (5) — Subtotal (88) (337) (29) (454) (399) Net gains (losses) recognized on customer accommodation trading and other derivatives: Interest contracts (49) 1,330 — 1,281 — Commodity contracts — 44 — 44 — Equity contracts — (2,085) (393) (2,478) — Foreign exchange contracts — 440 — 440 — Credit contracts — (71) — (71) — Subtotal (49) (342) (393) (784) — Net gains (losses) recognized related to derivatives not designated as hedging instruments $ (137) (679) (422) (1,238) (399) (1) Mortgage banking amounts for second quarter and first half of 2022 are comprised of gains (losses) of $(980) million and $(2.6) billion, respectively, related to derivatives used as economic hedges of MSRs measured at fair value offset by gains (losses) of $710 million and $2.0 billion, respectively, related to derivatives used as economic hedges of mortgage loans held for sale and derivative loan commitments. The corresponding amounts for second quarter and first half of 2021 are comprised of gains (losses) of $707 million and $(933) million offset by gains (losses) of $(420) million and $845 million, respectively. (2) In first quarter 2022, we prospectively reclassified certain equity securities and related economic hedge derivatives from “not held for trading activities” to “held for trading activities” to better reflect the business activity of those financial instruments. For additional information on Trading Activities, see Note 1 (Summary of Significant Accounting Policies) in our 2021 Form 10-K. |
Sold Credit Derivatives | Table 14.7 provides details of sold credit derivatives. Table 14.7: Sold Credit Derivatives Notional amount (in millions) Protection sold Protection sold – non-investment grade June 30, 2022 Credit default swaps $ 9,274 2,110 Risk participation swaps 7,205 6,995 Total credit derivatives $ 16,479 9,105 December 31, 2021 Credit default swaps $ 8,033 1,982 Risk participation swaps 6,756 6,012 Total credit derivatives $ 14,789 7,994 |
Credit-Risk Contingent Features | Table 14.8 illustrates our exposure to OTC bilateral derivative contracts 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 14.8: Credit-Risk Contingent Features (in billions) Jun 30, Dec 31, Net derivative liabilities with credit-risk contingent features $ 12.7 12.2 Collateral posted 10.5 11.0 Additional collateral to be posted upon a below investment grade credit rating (1) 2.2 1.2 (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) | 6 Months Ended |
Jun. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value on a Recurring Basis | Table 15.1 presents the balances of assets and liabilities recorded at fair value on a recurring basis. Table 15.1: Fair Value on a Recurring Basis June 30, 2022 December 31, 2021 (in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Trading debt securities: Securities of U.S. Treasury and federal agencies $ 30,701 4,553 — 35,254 27,607 2,249 — 29,856 Collateralized loan obligations — 598 149 747 — 655 211 866 Corporate debt securities — 10,364 17 10,381 — 9,987 18 10,005 Federal agency mortgage-backed securities — 32,612 3 32,615 — 40,350 — 40,350 Non-agency mortgage-backed securities — 1,256 — 1,256 — 1,531 11 1,542 Other debt securities — 8,904 — 8,904 — 5,645 1 5,646 Total trading debt securities 30,701 58,287 169 89,157 27,607 60,417 241 88,265 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies 46,515 — — 46,515 39,661 — — 39,661 Non-U.S. government securities — 166 — 166 — 71 — 71 Securities of U.S. states and political subdivisions — 11,998 78 12,076 — 16,832 85 16,917 Federal agency mortgage-backed securities — 56,195 — 56,195 — 105,886 — 105,886 Non-agency mortgage-backed securities — 3,804 — 3,804 — 4,522 10 4,532 Collateralized loan obligations — 4,409 — 4,409 — 5,708 — 5,708 Other debt securities — 2,578 89 2,667 — 4,378 91 4,469 Total available-for-sale debt securities 46,515 79,150 167 125,832 39,661 137,397 186 177,244 Loans held for sale — 4,627 1,072 5,699 — 14,862 1,033 15,895 Mortgage servicing rights (residential) — — 9,163 9,163 — — 6,920 6,920 Derivative assets (gross): Interest rate contracts 313 30,489 194 30,996 52 22,296 190 22,538 Commodity contracts — 12,546 385 12,931 — 5,902 63 5,965 Equity contracts 4,499 7,503 1,090 13,092 6,402 9,350 2,019 17,771 Foreign exchange contracts 33 13,025 50 13,108 8 6,573 7 6,588 Credit contracts — 51 18 69 — 32 14 46 Total derivative assets (gross) 4,845 63,614 1,737 70,196 6,462 44,153 2,293 52,908 Equity securities: Marketable 18,022 236 7 18,265 29,968 82 4 30,054 Nonmarketable (1) — 9,364 24 9,388 — 57 8,906 8,963 Total equity securities 18,022 9,600 31 27,653 29,968 139 8,910 39,017 Total assets prior to derivative netting $ 100,083 215,278 12,339 327,700 103,698 256,968 19,583 380,249 Derivative netting (2) (45,300) (31,430) Total assets after derivative netting $ 282,400 348,819 Derivative liabilities (gross): Interest rate contracts $ (203) (29,820) (765) (30,788) (28) (17,712) (63) (17,803) Commodity contracts — (5,467) (293) (5,760) — (2,351) (66) (2,417) Equity contracts (3,312) (4,663) (2,593) (10,568) (5,820) (10,753) (2,448) (19,021) Foreign exchange contracts (43) (14,812) (20) (14,875) (8) (6,654) (10) (6,672) Credit contracts — (35) (3) (38) — (40) (3) (43) Total derivative liabilities (gross) (3,558) (54,797) (3,674) (62,029) (5,856) (37,510) (2,590) (45,956) Short-sale and other trading liabilities (16,698) (5,936) — (22,634) (15,436) (5,249) — (20,685) Total liabilities prior to derivative netting $ (20,256) (60,733) (3,674) (84,663) (21,292) (42,759) (2,590) (66,641) Derivative netting (2) 44,861 36,532 Total liabilities after derivative netting $ (39,802) (30,109) (1) Excludes $81 million of nonmarketable equity securities as of December 31, 2021 that are measured at fair value using non-published NAV per share (or its equivalent) as a practical expedient that are not classified in the fair value hierarchy. (2) Represents balance sheet netting of derivative asset and liability balances, related cash collateral and portfolio level counterparty valuation adjustments. See Note 14 (Derivatives) for additional information. |
Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis | Table 15.2 presents the changes in Level 3 assets and liabilities measured at fair value on a recurring basis. Table 15.2: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis Net unrealized gains (losses) (in millions) Balance, Net gains/(losses) (1) Purchases (2) Sales Settlements Transfers Transfers Balance, (5) Quarter ended June 30, 2022 Trading debt securities $ 201 (22) 46 (78) 29 — (7) 169 (28) (6) Available-for-sale debt securities 338 (5) 2 (25) (5) — (138) 167 (1) (6) Loans held for sale 1,019 (61) 116 (27) (57) 84 (2) 1,072 (61) (7) Mortgage servicing rights (residential) (8) 8,511 581 322 (251) — — — 9,163 868 (7) Net derivative assets and liabilities: Interest rate contracts (176) (381) — — 371 (385) — (571) (133) Equity contracts (1,425) 192 — — 280 (516) (34) (1,503) 393 Other derivative contracts 27 88 — — 28 — (6) 137 89 Total derivative contracts (1,574) (101) — — 679 (901) (40) (1,937) 349 (9) Equity securities 26 5 — (2) — 3 (1) 31 5 (6) Quarter ended June 30, 2021 Trading debt securities $ 192 4 123 (129) (5) 15 (8) 192 1 (6) Available-for-sale debt securities 3,142 28 9 — (120) 11 (265) 2,805 41 (6) Loans held for sale 1,166 15 131 (231) (107) 97 (2) 1,069 9 (7) Mortgage servicing rights (residential) (8) 7,536 (1,297) 485 (7) — — — 6,717 (809) (7) Net derivative assets and liabilities: Interest rate contracts 1 458 — — (145) — — 314 167 Equity contracts (429) (158) — — 120 (10) 52 (425) (130) Other derivative contracts 56 (67) 2 (1) 42 — 3 35 (16) Total derivative contracts (372) 233 2 (1) 17 (10) 55 (76) 21 (9) Equity securities 8,865 794 — — — 1 — 9,660 794 (6) Six months ended June 30, 2022 Trading debt securities $ 241 (37) 93 (92) (6) 5 (35) 169 (40) (6) Available-for-sale debt securities 186 (26) 54 (25) (10) 126 (138) 167 (1) (6) Loans held for sale 1,033 (118) 179 (70) (130) 186 (8) 1,072 (115) (7) Mortgage servicing rights (residential) (8) 6,920 1,829 664 (250) — — — 9,163 2,473 (7) Net derivative assets and liabilities: Interest rate contracts 127 (959) — — 646 (385) — (571) (241) Equity contracts (429) (21) — — 869 (596) (1,326) (1,503) 603 Other derivative contracts 5 66 — — 72 — (6) 137 110 Total derivative contracts (297) (914) — — 1,587 (981) (1,332) (1,937) 472 (9) Equity securities 8,910 4 — (2) — 5 (8,886) 31 4 (6) Six months ended June 30, 2021 Trading debt securities $ 173 20 292 (302) (5) 22 (8) 192 5 (6) Available-for-sale debt securities 2,994 21 24 — (188) 253 (299) 2,805 16 (6) Loans held for sale 1,234 (4) 260 (379) (217) 178 (3) 1,069 (5) (7) Mortgage servicing rights (residential) (8) 6,125 (291) 891 (8) — — — 6,717 782 (7) Net derivative assets and liabilities: Interest rate contracts 446 (83) — — (44) — (5) 314 109 Equity contracts (314) (326) — — 160 (37) 92 (425) (236) Other derivative contracts 39 (40) 2 (1) 32 — 3 35 4 Total derivative contracts 171 (449) 2 (1) 148 (37) 90 (76) (123) (9) Equity securities 9,233 429 — (5) — 3 — 9,660 429 (6) (1) Includes net gains (losses) included in both net income and other comprehensive income. All amounts represent net gains (losses) included in net income except for $(6) million and $(27) million and included in other comprehensive income from AFS debt securities for the second quarter and first half of 2022, respectively. The corresponding amounts for the second quarter and first half of 2021 were $22 million and $36 million, respectively. (2) Includes originations of mortgage servicing rights and loans held for sale. (3) All assets and liabilities transferred into Level 3 were previously classified within Level 2. (4) All assets and liabilities transferred out of Level 3 are classified as Level 2. During first quarter 2022, we transferred $8.9 billion of non-marketable equity securities and $1.4 billion of related economic hedging derivative assets (equity contracts) out of Level 3 due to our election to measure fair value of these instruments as a portfolio. Under this election, the unit of valuation is the portfolio-level, rather than each individual instrument. The unobservable inputs previously significant to the valuation of the instruments individually are no longer significant, as those unobservable inputs offset under the portfolio election. (5) Includes net unrealized gains (losses) related to assets and liabilities held at period end included in both net income and other comprehensive income. All amounts represent net unrealized gains (losses) included in net income except for $38 million and $31 million included in other comprehensive income from AFS debt securities for the second quarter and first half of 2021, respectively. (6) Included in net gains from trading and securities in the consolidated statement of income. (7) Included in mortgage banking income in the consolidated statement of income. (8) For additional information on the changes in mortgage servicing rights, see Note 9 (Mortgage Banking Activities). |
Valuation Techniques - Recurring Basis | Table 15.3 provides quantitative information about the valuation techniques and significant unobservable inputs used in the valuation of our Level 3 assets and liabilities measured at fair value on a recurring basis. The significant unobservable inputs for Level 3 assets inherent in the fair values obtained from third-party vendors are not included in the table, as the specific inputs applied are not provided by the vendor (for additional information on vendor-developed valuations, see Note 17 (Fair Values of Assets and Liabilities) in our 2021 Form 10-K). Weighted averages of inputs are calculated using outstanding unpaid principal balance for cash instruments, such as loans and securities, and notional amounts for derivative instruments. Table 15.3: Valuation Techniques – Recurring Basis ($ in millions, except cost to service amounts) Fair Value Level 3 Valuation Technique Significant Range of Inputs Weighted June 30, 2022 Trading and available-for-sale debt securities $ 126 Discounted cash flow Discount rate 1.5 - 12.5 % 6.0 1 Vendor priced 169 Market comparable pricing Comparability adjustment (23.3) - 79.9 2.4 40 Market comparable pricing Multiples 1.2x - 7.4x 2.4x Loans held for sale 1,072 Discounted cash flow Default rate 0.0 - 36.3 % 1.1 Discount rate 1.7 - 12.8 6.9 Loss severity 0.0 - 51.2 17.6 Prepayment rate 3.3 - 14.3 11.3 Mortgage servicing rights (residential) 9,163 Discounted cash flow Cost to service per loan (1) $ 52 - 541 100 Discount rate 7.6 - 10.7 % 8.1 Prepayment rate (2) 9.0 - 19.4 9.7 Net derivative assets and (liabilities): Interest rate contracts (416) Discounted cash flow Discount rate 2.1 - 3.0 2.8 (26) Discounted cash flow Default rate 0.4 - 5.0 2.3 Loss severity 50.0 - 50.0 50.0 Prepayment rate 2.8 - 22.0 18.7 Interest rate contracts: derivative loan commitments (129) Discounted cash flow Fall-out factor 1.0 - 99.0 22.0 Initial-value servicing (47.0) - 146.0 bps 19.1 Equity contracts (1,054) Discounted cash flow Conversion factor (13.3) - 0.0 % (10.5) Weighted average life 0.5 - 1.5 yrs 1.0 (449) Option model Correlation factor (77.0) - 99.0 % 21.7 Volatility factor 6.5 - 87.3 28.4 Insignificant Level 3 assets, net of liabilities 168 Total Level 3 assets, net of liabilities $ 8,665 (3) December 31, 2021 Trading and available-for-sale debt securities $ 136 Discounted cash flow Discount rate 0.4 - 12.5 % 5.5 11 Vendor priced 280 Market comparable pricing Comparability adjustment (30.2) - 19.2 (4.6) Loans held for sale 1,033 Discounted cash flow Default rate 0.0 - 29.2 % 1.2 Discount rate 1.6 - 11.9 5.1 Loss severity 0.0 - 46.9 15.4 Prepayment rate 7.5 - 18.2 13.1 Mortgage servicing rights (residential) 6,920 Discounted cash flow Cost to service per loan (1) $ 54 - 585 106 Discount rate 5.8 - 8.8 % 6.4 Prepayment rate (2) 12.5 - 21.1 14.7 Net derivative assets and (liabilities): Interest rate contracts 87 Discounted cash flow Default rate 0.0 - 5.0 2.1 Loss severity 50.0 - 50.0 50.0 Prepayment rate 2.8 - 22.0 18.7 Interest rate contracts: derivative loan commitments 40 Discounted cash flow Fall-out factor 1.0 - 99.0 16.8 Initial-value servicing (74.8) - 146.0 bps 50.9 Equity contracts 253 Discounted cash flow Conversion factor (10.2) - 0.0 % (9.7) Weighted average life 0.5 - 2.0 yrs 1.1 (682) Option model Correlation factor (77.0) - 99.0 % 23.2 Volatility factor 6.5 - 72.0 29.1 Nonmarketable equity securities 8,906 Market comparable pricing Comparability adjustment (21.6) - (7.7) (15.5) Insignificant Level 3 assets, net of liabilities 9 Total Level 3 assets, net of liabilities $ 16,993 (3) (1) The high end of the range of inputs is for servicing modified loans. For non-modified loans the range is $52 - $186 at June 30, 2022, and $54 - $199 at December 31, 2021. (2) 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. (3) Consists of total Level 3 assets of $12.3 billion and $19.6 billion and total Level 3 liabilities of $3.7 billion and $2.6 billion, before netting of derivative balances, at June 30, 2022, and December 31, 2021, respectively. |
Fair Value on a Nonrecurring Basis | Table 15.4 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 June 30, 2022 and December 31, 2021, and for which a nonrecurring fair value adjustment was recorded during the six months ended June 30, 2022, and year ended December 31, 2021. Table 15.4: Fair Value on a Nonrecurring Basis June 30, 2022 December 31, 2021 (in millions) Level 2 Level 3 Total Level 2 Level 3 Total Loans held for sale (1) $ 1,851 1,566 3,417 3,911 1,407 5,318 Loans: Commercial 46 — 46 476 — 476 Consumer 462 — 462 380 — 380 Total loans 508 — 508 856 — 856 Mortgage servicing rights (commercial) — 75 75 — 567 567 Nonmarketable equity securities 1,209 3,432 4,641 6,262 765 7,027 Other assets 1,749 110 1,859 1,373 175 1,548 Total assets at fair value on a nonrecurring basis $ 5,317 5,183 10,500 12,402 2,914 15,316 (1) Predominantly consists of commercial mortgages and residential mortgage – first lien loans. |
Gains (Losses) on Assets with Nonrecurring Fair Value Adjustment | Table 15.5 presents the gains (losses) on certain assets held at the end of the reporting periods presented for which a nonrecurring fair value adjustment was recognized in earnings during the respective periods. Table 15.5: Gains (Losses) on Assets with Nonrecurring Fair Value Adjustment Six months ended June 30, (in millions) 2022 2021 Loans held for sale $ (66) 38 Loans: Commercial (36) (182) Consumer (358) (90) Total loans (394) (272) Mortgage servicing rights (commercial) 4 31 Nonmarketable equity securities (1) (95) 2,215 Other assets (2) (176) (56) Total $ (727) 1,956 (1) Includes impairment of nonmarketable equity securities and observable price changes related to nonmarketable equity securities accounted for under the measurement alternative. (2) Includes impairment of operating lease ROU assets, valuation of physical commodities, valuation losses on foreclosed real estate and other collateral owned, and impairment of private equity and venture capital investments in consolidated portfolio companies. |
Valuation Techniques - Nonrecurring Basis | Table 15.6 provides quantitative information about the valuation techniques and significant unobservable inputs used in the valuation of our Level 3 assets that are measured at fair value on a nonrecurring basis and determined using an internal model. The table is limited to financial instruments that had nonrecurring fair value adjustments during the periods presented. Weighted averages of inputs are calculated using outstanding unpaid principal balance for cash instruments, such as loans, and carrying value prior to the nonrecurring fair value measurement for nonmarketable equity securities and private equity and venture capital investments in consolidated portfolio companies. Table 15.6: Valuation Techniques – Nonrecurring Basis ($ in millions) Fair Value Valuation Significant Range of Inputs Weighted June 30, 2022 Loans held for sale (2) $ 1,566 Discounted cash flow Default rate (3) 0.2 - 85.6 % 18.8 Discount rate 0.6 - 12.8 3.9 Loss severity 0.3 - 43.8 3.8 Prepayment rate (4) 3.9 - 100.0 35.9 Mortgage servicing rights (commercial) 75 Discounted cash flow Cost to service per loan $ 3,775 - 3,775 3,775 Discount rate 5.2 - 5.2 % 5.2 Prepayment rate 0.0 - 20.6 6.7 Nonmarketable equity securities 2,154 Market comparable pricing Comparability adjustment (100.0) - (4.0) (22.7) 1,270 Market comparable pricing Multiples 2.6x - 24.2x 19.6x Other assets (5) 102 Market comparable pricing Multiples 8.0 - 8.0 8.0 Insignificant Level 3 assets 16 Total $ 5,183 December 31, 2021 Loans held for sale (2) $ 1,407 Discounted cash flow Default rate (3) 0.2 - 78.3 % 25.6 Discount rate 0.6 - 12.0 3.3 Loss severity 0.4 - 45.6 4.8 Prepayment rate (4) 5.4 - 100.0 38.9 Mortgage servicing rights (commercial) 567 Discounted cash flow Cost to service per loan $ 150 - 3,381 2,771 Discount rate 4.0 - 4.5 % 4.0 Prepayment rate 0.0 - 20.6 5.5 Nonmarketable equity securities 745 Market comparable pricing Comparability adjustment (100.0) - (33.0) (59.0) 15 Market comparable pricing Multiples 2.0x - 3.3x 2.8x 5 Discounted cash flow Discount rate 10.5 - 10.5 % 10.5 Other assets 175 Discounted cash flow Discount rate 0.2 - 4.4 2.9 Total $ 2,914 (1) See Note 17 (Fair Values of Assets and Liabilities) in our 2021 Form 10-K for additional information on the valuation technique and significant unobservable inputs used in the valuation of Level 3 assets. (2) Consists of approximately $1.4 billion and $1.2 billion of government insured/guaranteed loans purchased from GNMA-guaranteed mortgage securitizations at June 30, 2022, and December 31, 2021, respectively, and approximately $200 million of other mortgage loans that are not government insured/guaranteed at both June 30, 2022, and December 31, 2021. (3) Applies only to non-government insured/guaranteed loans. (4) 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. (5) Represents private equity and venture capital investments in consolidated portfolio companies. |
Fair Value Option | Table 15.7 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. Nonaccrual loans and loans 90 days or more past due and still accruing included in LHFS for which we have elected the fair value option were insignificant at June 30, 2022, and December 31, 2021. Table 15.7: Fair Value Option June 30, 2022 December 31, 2021 (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 Loans held for sale $ 5,699 5,985 (286) 15,895 15,750 145 |
Fair Value Estimates for Financial Instruments | Table 15.8 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, certain nonmarketable equity securities, 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 15.8. 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 $1.2 billion and $1.4 billion at June 30, 2022 and December 31, 2021, respectively. 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 15.8: Fair Value Estimates for Financial Instruments Estimated fair value (in millions) Carrying amount Level 1 Level 2 Level 3 Total June 30, 2022 Financial assets Cash and due from banks (1) $ 29,716 29,716 — — 29,716 Interest-earning deposits with banks (1) 125,424 124,779 645 — 125,424 Federal funds sold and securities purchased under resale agreements (1) 55,546 — 55,546 — 55,546 Held-to-maturity debt securities 301,783 14,966 254,357 2,721 272,044 Loans held for sale 3,975 — 2,263 1,775 4,038 Loans, net (2) 917,538 — 60,386 835,057 895,443 Nonmarketable equity securities (cost method) 3,582 — — 3,644 3,644 Total financial assets $ 1,437,564 169,461 373,197 843,197 1,385,855 Financial liabilities Deposits (3) $ 25,776 — 11,316 13,733 25,049 Short-term borrowings 36,910 — 36,910 — 36,910 Long-term debt (4) 149,913 — 148,150 1,086 149,236 Total financial liabilities $ 212,599 — 196,376 14,819 211,195 December 31, 2021 Financial assets Cash and due from banks (1) $ 24,616 24,616 — — 24,616 Interest-earning deposits with banks (1) 209,614 209,452 162 — 209,614 Federal funds sold and securities purchased under resale agreements (1) 66,223 — 66,223 — 66,223 Held-to-maturity debt securities 272,022 16,825 252,717 2,844 272,386 Loans held for sale 7,722 — 6,300 1,629 7,929 Loans, net (2) 868,278 — 63,404 820,559 883,963 Nonmarketable equity securities (cost method) 3,584 — — 3,646 3,646 Total financial assets $ 1,452,059 250,893 388,806 828,678 1,468,377 Financial liabilities Deposits (3) $ 30,012 — 14,401 15,601 30,002 Short-term borrowings 34,409 — 34,409 — 34,409 Long-term debt (4) 160,660 — 166,682 1,402 168,084 Total financial liabilities $ 225,081 — 215,492 17,003 232,495 (1) Amounts consist of financial instruments for which carrying value approximates fair value. (2) Excludes lease financing with a carrying amount of $14.3 billion and $14.5 billion at June 30, 2022, and December 31, 2021, respectively. (3) Excludes deposit liabilities with no defined or contractual maturity of $1.4 trillion and $1.5 trillion at June 30, 2022, and December 31, 2021, respectively. (4) Excludes obligations under finance leases of $25 million and $26 million at June 30, 2022, and December 31, 2021, respectively. |
Preferred Stock (Tables)
Preferred Stock (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Preferred Stock [Abstract] | |
Preferred Stock | Table 16.1 summarizes information about our preferred stock including the Employee Stock Ownership Plan (ESOP) Cumulative Convertible Preferred Stock. Table 16.1: Preferred Stock June 30, 2022 December 31, 2021 (in millions, except shares) Shares Shares issued and outstanding Liquidation preference value Carrying Shares Shares Liquidation preference value Carrying value DEP Shares Dividend Equalization Preferred Shares (DEP) 97,000 96,546 $ — — 97,000 96,546 $ — — Series L (1) 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock 4,025,000 3,967,986 3,968 3,200 4,025,000 3,967,995 3,968 3,200 Series Q 5.85% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 69,000 69,000 1,725 1,725 69,000 69,000 1,725 1,725 Series R 6.625% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 34,500 33,600 840 840 34,500 33,600 840 840 Series S 5.90% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 80,000 80,000 2,000 2,000 80,000 80,000 2,000 2,000 Series U 5.875% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 80,000 80,000 2,000 2,000 80,000 80,000 2,000 2,000 Series Y 5.625% Non-Cumulative Perpetual Class A Preferred Stock 27,600 27,600 690 690 27,600 27,600 690 690 Series Z 4.75% Non-Cumulative Perpetual Class A Preferred Stock 80,500 80,500 2,013 2,013 80,500 80,500 2,013 2,013 Series AA 4.70% Non-Cumulative Perpetual Class A Preferred Stock 46,800 46,800 1,170 1,170 46,800 46,800 1,170 1,170 Series BB 3.90% Fixed-Reset Non-Cumulative Perpetual Class A Preferred Stock 140,400 140,400 3,510 3,510 140,400 140,400 3,510 3,510 Series CC 4.375% Non-Cumulative Perpetual Class A Preferred Stock 46,000 42,000 1,050 1,050 46,000 42,000 1,050 1,050 Series DD 4.25% Non-Cumulative Perpetual Class A Preferred Stock 50,000 50,000 1,250 1,250 50,000 50,000 1,250 1,250 ESOP (2) Cumulative Convertible Preferred Stock 609,434 609,434 609 609 609,434 609,434 609 609 Total 5,386,234 5,323,866 $ 20,825 20,057 5,386,234 5,323,875 $ 20,825 20,057 (1) 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. (2) See the “ESOP Cumulative Convertible Preferred Stock” section in this Note for additional information about the liquidation preference for the ESOP Cumulative Convertible Preferred Stock. |
ESOP Preferred Stock | Table 16.2: ESOP Preferred Stock Shares issued and outstanding Carrying value Adjustable dividend rate (in millions, except shares) Jun 30, Dec 31, Jun 30, Dec 31, Minimum Maximum ESOP Preferred Stock $1,000 liquidation preference per share 2018 189,225 189,225 $ 189 189 7.00 % 8.00 % 2017 135,135 135,135 135 135 7.00 8.00 2016 128,380 128,380 128 128 9.30 10.30 2015 68,106 68,106 68 68 8.90 9.90 2014 62,420 62,420 63 63 8.70 9.70 2013 26,168 26,168 26 26 8.50 9.50 Total ESOP Preferred Stock (1) 609,434 609,434 $ 609 609 Unearned ESOP shares (2) $ (646) (646) (1) At both June 30, 2022, and December 31, 2021, additional paid-in capital included $37 million related to ESOP preferred stock. (2) We recorded a corresponding charge to unearned ESOP shares in connection with the issuance of the ESOP Preferred Stock. The unearned ESOP shares are reduced as shares of the ESOP Preferred Stock are committed to be released. |
Revenue from Contracts with C_2
Revenue from Contracts with Customers (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Revenue by Operating Segment | Table 17.1 presents our revenue by operating segment. For additional description of ouroperating segments, including additional financial information and the underlying management accounting process, see Note 22 (Operating Segments). For a description of our revenue from contracts with customers, see Note 20 (Revenue from Contracts with Customers) in our 2021 Form 10-K. Table 17.1: Revenue by Operating Segment (in millions) Consumer Banking and Lending Commercial Banking Corporate and Investment Banking Wealth and Investment Management Corporate Reconciling Consolidated Quarter ended June 30, 2022 Net interest income (2) $ 6,372 1,580 2,057 916 (619) (108) 10,198 Noninterest income: Deposit-related fees 779 310 280 7 — — 1,376 Lending-related fees (2) 34 122 195 2 — — 353 Investment advisory and other asset-based fees (3) — 10 30 2,306 — — 2,346 Commissions and brokerage services fees — — 83 459 — — 542 Investment banking fees (2) 15 307 — (34) — 286 Card fees: Card interchange and network revenue (4) 920 58 15 1 — — 994 Other card fees (2) 118 — — — — — 118 Total card fees 1,038 58 15 1 — — 1,112 Mortgage banking (2) 211 — 79 (3) — — 287 Net gains from trading activities (2) — — 378 11 57 — 446 Net gains from debt securities (2) — 5 — — 138 — 143 Net losses from equity securities (2) (8) (67) (2) (1) (537) — (615) Lease income (2) — 179 11 — 143 — 333 Other (2) 83 280 140 7 119 (408) 221 Total noninterest income 2,135 912 1,516 2,789 (114) (408) 6,830 Total revenue $ 8,507 2,492 3,573 3,705 (733) (516) 17,028 Quarter ended June 30, 2021 Net interest income (2) $ 5,618 1,202 1,783 610 (304) (109) 8,800 Noninterest income: Deposit-related fees 732 325 277 7 1 — 1,342 Lending-related fees (2) 36 135 190 2 (1) — 362 Investment advisory and other asset-based fees (3) — 2 12 2,382 398 — 2,794 Commissions and brokerage services fees — — 68 513 (1) — 580 Investment banking fees (2) 9 580 (1) (16) — 570 Card fees: Card interchange and network revenue (4) 896 49 11 1 — — 957 Other card fees (2) 121 — — — (1) — 120 Total card fees 1,017 49 11 1 (1) — 1,077 Mortgage banking (2) 1,158 — 181 (3) — — 1,336 Net gains (losses) from trading activities (2) — (1) 30 6 (14) — 21 Net gains from debt securities (2) — — — — — — — Net gains from equity securities (2) — 32 46 6 2,612 — 2,696 Lease income (2) — 173 — — 140 — 313 Other (2) 127 182 160 13 209 (312) 379 Total noninterest income 3,068 906 1,555 2,926 3,327 (312) 11,470 Total revenue $ 8,686 2,108 3,338 3,536 3,023 (421) 20,270 Six months ended June 30, 2022 Net interest income (2) $ 12,368 2,941 4,047 1,715 (1,437) (215) 19,419 Noninterest income: Deposit-related fees 1,624 638 573 14 — — 2,849 Lending-related fees (2) 68 243 380 4 — — 695 Investment advisory and other asset-based fees (3) — 12 42 4,782 8 — 4,844 Commissions and brokerage services fees — — 166 913 — — 1,079 Investment banking fees (3) 30 769 — (63) — 733 Card fees: Card interchange and network revenue (4) 1,754 111 29 2 — — 1,896 Other card fees (2) 245 — — — — — 245 Total card fees 1,999 111 29 2 — — 2,141 Mortgage banking (2) 865 — 121 (6) — — 980 Net gains from trading activities (2) — — 606 12 46 — 664 Net gains from debt securities (2) — 5 — — 140 — 145 Net gains (losses) from equity securities (2) (17) 19 (7) (1) (33) — (39) Lease income (2) — 358 13 — 289 — 660 Other (2) 166 462 304 27 305 (814) 450 Total noninterest income 4,702 1,878 2,996 5,747 692 (814) 15,201 Total revenue $ 17,070 4,819 7,043 7,462 (745) (1,029) 34,620 (continued on following page) (continued from previous page) (in millions) Consumer Banking and Lending Commercial Banking Corporate and Investment Banking Wealth and Investment Management Corporate Reconciling Consolidated Six months ended June 30, 2021 Net interest income (2) $ 11,233 2,456 3,562 1,267 (694) (216) 17,608 Noninterest income: Deposit-related fees 1,393 642 543 14 5 — 2,597 Lending-related fees (2) 76 271 373 4 (1) — 723 Investment advisory and other asset-based fees (3) — 7 34 4,688 821 — 5,550 Commissions and brokerage services fees — — 149 1,068 (1) — 1,216 Investment banking fees (8) 22 1,191 (2) (65) — 1,138 Card fees: Card interchange and network revenue (4) 1,674 94 21 2 — — 1,791 Other card fees (2) 235 — — — — — 235 Total card fees 1,909 94 21 2 — — 2,026 Mortgage banking (2) 2,417 — 251 (6) — — 2,662 Net gains (losses) from trading activities (2) 1 1 361 12 (6) — 369 Net gains from debt securities (2) — — — — 151 — 151 Net gains from equity securities (2) 34 45 121 6 2,882 — 3,088 Lease income (2) — 347 1 — 280 — 628 Other (2) 285 304 335 27 678 (583) 1,046 Total noninterest income 6,107 1,733 3,380 5,813 4,744 (583) 21,194 Total revenue $ 17,340 4,189 6,942 7,080 4,050 (799) 38,802 (1) Taxable-equivalent adjustments related to tax-exempt income on certain loans and debt securities are included in net interest income, while taxable-equivalent adjustments related to income tax credits for low-income housing and renewable energy investments are included in noninterest income, in each case with corresponding impacts to income tax expense (benefit). Adjustments are included in Corporate, Commercial Banking, and Corporate and Investment Banking and are eliminated to reconcile to the Company’s consolidated financial results. (2) These revenues are related to financial assets and liabilities, including loans, leases, securities and derivatives, with additional details included in other footnotes to our financial statements. (3) We earned trailing commissions of $245 million and $516 million for the second quarter and first half of 2022, respectively, and $300 million and $598 million for the second quarter and first half of 2021, respectively. |
Employee Benefits and Other E_2
Employee Benefits and Other Expenses (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Retirement Benefits [Abstract] | |
Net Periodic Benefit Cost | Table 18.1 presents the components of net periodic benefit cost. The expected long-term rate of return on plan assets and interest cost discount rate in determining net periodic benefit cost for second quarter 2022 were 5.00% and 3.44%, respectively. Service cost is reported in personnel expense and all other components of net periodic benefit cost are reported in other noninterest expense on the consolidated statement of income. Table 18.1: Net Periodic Benefit Cost 2022 2021 Pension benefits Pension benefits (in millions) Qualified Non- qualified Other benefits Qualified Non- qualified Other benefits Quarter ended June 30, Service cost $ 5 — — 5 — — Interest cost 82 3 3 71 3 3 Expected return on plan assets (126) — (6) (154) — (4) Amortization of net actuarial loss (gain) 33 3 (6) 38 3 (5) Amortization of prior service credit — — (2) — — (3) Settlement loss 62 — — 62 — — Net periodic benefit cost $ 56 6 (11) 22 6 (9) Six months ended June 30, Service cost $ 10 — — 9 — — Interest cost 149 5 5 142 6 6 Expected return on plan assets (265) — (11) (306) — (9) Amortization of net actuarial loss (gain) 66 6 (11) 75 7 (10) Amortization of prior service credit — — (5) — — (5) Settlement loss 109 1 — 62 2 — Net periodic benefit cost $ 69 12 (22) (18) 15 (18) |
Restructuring Charges (Tables)
Restructuring Charges (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Restructuring Costs [Abstract] | |
Accruals for Restructuring Charges | Table 19.1 provides details on our restructuring charges. Table 19.1: Accruals for Restructuring Charges Quarter ended June 30, Six months ended June 30, (in millions) 2022 2021 2022 2021 Balance, beginning of period $ 471 1,054 $ 565 1,214 Restructuring charges — 158 — 303 Changes in estimates — (162) 5 (294) Payments and utilization (96) (246) (195) (419) Balance, end of period $ 375 804 $ 375 804 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share Calculations | Table 20.1 shows earnings per common share and diluted earnings per common share and reconciles the numerator and denominator of both earnings per common share calculations. Table 20.1: Earnings Per Common Share Calculations Quarter ended June 30, Six months ended June 30, (in millions, except per share amounts) 2022 2021 2022 2021 Wells Fargo net income $ 3,119 6,040 $ 6,790 10,676 Less: Preferred stock dividends and other (1) 280 297 558 677 Wells Fargo net income applicable to common stock (numerator) $ 2,839 5,743 $ 6,232 9,999 Earnings per common share Average common shares outstanding (denominator) 3,793.8 4,124.6 3,812.3 4,132.9 Per share $ 0.75 1.39 $ 1.63 2.42 Diluted earnings per common share Average common shares outstanding 3,793.8 4,124.6 3,812.3 4,132.9 Add: Restricted share rights (2) 25.8 31.5 32.7 31.7 Diluted average common shares outstanding (denominator) 3,819.6 4,156.1 3,845.0 4,164.6 Per share $ 0.74 1.38 $ 1.62 2.40 (1) The quarter ended June 30, 2021, balance includes $4 million, and the six months ended June 30, 2021, balance includes $48 million from the elimination of discounts or issuance costs associated with redemptions of preferred stock. (2) Calculated using the treasury stock method. |
Outstanding Anti-Dilutive Securities | Table 20.2 presents the outstanding securities that were anti-dilutive and therefore not included in the calculation of diluted earnings per common share. Table 20.2: Outstanding Anti-Dilutive Securities Weighted-average shares Quarter ended June 30, Six months ended June 30, (in millions) 2022 2021 2022 2021 Convertible Preferred Stock, Series L (1) 25.3 25.3 25.3 25.3 Restricted share rights (2) 0.2 0.2 0.2 0.1 (1) Calculated using the if-converted method. |
Dividends Declared per Common Share | Table 20.3 presents dividends declared per common share. Table 20.3: Dividends Declared Per Common Share Quarter ended June 30, Six months ended June 30, 2022 2021 2022 2021 Per common share $ 0.25 0.10 $ 0.50 0.20 |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Accumulative Other Comprehensive Income Balances [Abstract] | |
Summary of Other Comprehensive Income | Table 21.1 provides the components of other comprehensive income (OCI), reclassifications to net income by income statement line item, and the related tax effects. Table 21.1: Summary of Other Comprehensive Income Quarter ended June 30, Six months ended June 30, 2022 2021 2022 2021 (in millions) Before Tax Net of Before Tax Net of Before Tax Net of Before Tax Net of Debt securities: Net unrealized gains (losses) arising during the period $ (4,806) 1,183 (3,623) 272 (68) 204 $ (11,694) 2,880 (8,814) (1,740) 432 (1,308) Reclassification of net (gains) losses to net income 4 (1) 3 132 (32) 100 62 (16) 46 118 (31) 87 Net change (4,802) 1,182 (3,620) 404 (100) 304 (11,632) 2,864 (8,768) (1,622) 401 (1,221) Derivatives and hedging activities: Fair Value Hedges: Change in fair value of excluded components on fair value hedges (1) 46 (11) 35 (14) 3 (11) 110 (27) 83 11 (3) 8 Cash Flow Hedges: Net unrealized gains (losses) arising during the period on cash flow hedges (114) 28 (86) 11 (3) 8 (165) 41 (124) (20) 5 (15) Reclassification of net (gains) losses to net income (43) 11 (32) 40 (10) 30 (29) 7 (22) 93 (23) 70 Net change (111) 28 (83) 37 (10) 27 (84) 21 (63) 84 (21) 63 Defined benefit plans adjustments: Net actuarial and prior service gains (losses) arising during the period (120) 30 (90) 347 (85) 262 (101) 25 (76) 357 (88) 269 Reclassification of amounts to noninterest expense (2) 90 (22) 68 95 (23) 72 166 (40) 126 131 (31) 100 Net change (30) 8 (22) 442 (108) 334 65 (15) 50 488 (119) 369 Debit valuation adjustments (DVA): Net unrealized gains (losses) arising during the period 10 (3) 7 — — — 6 (2) 4 — — — Reclassification of net (gains) losses to net income — — — — — — — — — — — — Net change 10 (3) 7 — — — 6 (2) 4 — — — Foreign currency translation adjustments: Net unrealized gains (losses) arising during the period (121) (2) (123) 23 (1) 22 (127) (2) (129) 36 (3) 33 Reclassification of net (gains) losses to net income — — — — — — — — — — — — Net change (121) (2) (123) 23 (1) 22 (127) (2) (129) 36 (3) 33 Other comprehensive income (loss) $ (5,054) 1,213 (3,841) 906 (219) 687 $ (11,772) 2,866 (8,906) (1,014) 258 (756) Less: Other comprehensive income from noncontrolling interests, net of tax — 1 — 2 Wells Fargo other comprehensive income (loss), net of tax $ (3,841) 686 $ (8,906) (758) (1) 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. (2) These items are included in the computation of net periodic benefit cost (see Note 18 (Employee Benefits and Other Expenses) for additional information). |
Accumulated OCI Balances | Table 21.2 provides the accumulated OCI (AOCI) balance activity on an after-tax basis. Table 21.2: Accumulated OCI Balances (in millions) Debt Fair value hedges (1) Cash flow hedges (2) Defined benefit plans adjustments Debit valuation adjustments Foreign currency translation adjustments Accumulated Quarter ended June 30, 2022 Balance, beginning of period $ (4,483) (95) (55) (1,983) (3) (148) (6,767) Net unrealized gains (losses) arising during the period (3,623) 35 (86) (90) 7 (123) (3,880) Amounts reclassified from accumulated other comprehensive income 3 — (32) 68 — — 39 Net change (3,620) 35 (118) (22) 7 (123) (3,841) Less: Other comprehensive income (loss) from noncontrolling interests — — — — — — — Balance, end of period (3) $ (8,103) (60) (173) (2,005) 4 (271) (10,608) Quarter ended June 30, 2021 Balance, beginning of period $ 1,514 (185) (108) (2,369) — (102) (1,250) Net unrealized gains (losses) arising during the period 204 (11) 8 262 — 22 485 Amounts reclassified from accumulated other comprehensive income 100 — 30 72 — — 202 Net change 304 (11) 38 334 — 22 687 Less: Other comprehensive income from noncontrolling interests 1 — — — — — 1 Balance, end of period (3) $ 1,817 (196) (70) (2,035) — (80) (564) Six months ended June 30, 2022 Balance, beginning of period $ 665 (143) (27) (2,055) — (142) (1,702) Net unrealized gains (losses) arising during the period (8,814) 83 (124) (76) 4 (129) (9,056) Amounts reclassified from accumulated other comprehensive income 46 — (22) 126 — — 150 Net change (8,768) 83 (146) 50 4 (129) (8,906) Less: Other comprehensive income (loss) from noncontrolling interests — — — — — — — Balance, end of period (3) $ (8,103) (60) (173) (2,005) 4 (271) (10,608) Six months ended June 30, 2021 Balance, beginning of period $ 3,039 (204) (125) (2,404) — (112) 194 Net unrealized gains (losses) arising during the period (1,308) 8 (15) 269 — 33 (1,013) Amounts reclassified from accumulated other comprehensive income 87 — 70 100 — — 257 Net change (1,221) 8 55 369 — 33 (756) Less: Other comprehensive income from noncontrolling interests 1 — — — — 1 2 Balance, end of period (3) $ 1,817 (196) (70) (2,035) — (80) (564) (1) Substantially all of the amounts for fair value hedges are foreign exchange contracts. (2) Majority of the amounts for cash flow hedges are interest rate contracts. (3) AOCI related to debt securities includes after-tax unrealized gains or losses associated with the transfer of securities from AFS to HTM of $3.4 billion and $898 million at June 30, 2022 and June 30, 2021, respectively. These amounts are subsequently amortized from AOCI into earnings over the same period as the related unamortized premiums and discounts. |
Operating Segments (Tables)
Operating Segments (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Segment Reporting [Abstract] | |
Operating Segments | Table 22.1 presents our results by operating segment. Table 22.1: Operating Segments (in millions) Consumer Banking and Lending Commercial Banking Corporate and Investment Banking Wealth and Investment Management Corporate Reconciling Items (1) Consolidated Quarter ended June 30, 2022 Net interest income (2) $ 6,372 1,580 2,057 916 (619) (108) 10,198 Noninterest income 2,135 912 1,516 2,789 (114) (408) 6,830 Total revenue 8,507 2,492 3,573 3,705 (733) (516) 17,028 Provision for credit losses 613 21 (62) (7) 15 — 580 Noninterest expense 6,036 1,478 1,840 2,911 618 — 12,883 Income (loss) before income tax expense (benefit) 1,858 993 1,795 801 (1,366) (516) 3,565 Income tax expense (benefit) 465 249 459 198 (242) (516) 613 Net income (loss) before noncontrolling interests 1,393 744 1,336 603 (1,124) — 2,952 Less: Net income (loss) from noncontrolling interests — 3 — — (170) — (167) Net income (loss) $ 1,393 741 1,336 603 (954) — 3,119 Quarter ended June 30, 2021 Net interest income (2) $ 5,618 1,202 1,783 610 (304) (109) 8,800 Noninterest income 3,068 906 1,555 2,926 3,327 (312) 11,470 Total revenue 8,686 2,108 3,338 3,536 3,023 (421) 20,270 Provision for credit losses (367) (382) (501) 24 (34) — (1,260) Noninterest expense 6,202 1,443 1,805 2,891 1,000 — 13,341 Income (loss) before income tax expense (benefit) 2,851 1,047 2,034 621 2,057 (421) 8,189 Income tax expense (benefit) 713 261 513 156 223 (421) 1,445 Net income before noncontrolling interests 2,138 786 1,521 465 1,834 — 6,744 Less: Net income (loss) from noncontrolling interests — 2 (2) — 704 — 704 Net income $ 2,138 784 1,523 465 1,130 — 6,040 Six months ended June 30, 2022 Net interest income (2) $ 12,368 2,941 4,047 1,715 (1,437) (215) 19,419 Noninterest income 4,702 1,878 2,996 5,747 692 (814) 15,201 Total revenue 17,070 4,819 7,043 7,462 (745) (1,029) 34,620 Provision for credit losses 423 (323) (258) (44) (5) — (207) Noninterest expense 12,431 3,009 3,823 6,086 1,404 — 26,753 Income (loss) before income tax expense (benefit) 4,216 2,133 3,478 1,420 (2,144) (1,029) 8,074 Income tax expense (benefit) 1,053 529 884 352 (469) (1,029) 1,320 Net income (loss) before noncontrolling interests 3,163 1,604 2,594 1,068 (1,675) — 6,754 Less: Net income (loss) from noncontrolling interests — 6 — — (42) — (36) Net income (loss) $ 3,163 1,598 2,594 1,068 (1,633) — 6,790 Six months ended June 30, 2021 Net interest income (2) $ 11,233 2,456 3,562 1,267 (694) (216) 17,608 Noninterest income 6,107 1,733 3,380 5,813 4,744 (583) 21,194 Total revenue 17,340 4,189 6,942 7,080 4,050 (799) 38,802 Provision for credit losses (786) (781) (785) (19) 63 — (2,308) Noninterest expense 12,469 3,073 3,638 5,919 2,231 — 27,330 Income (loss) before income tax expense (benefit) 5,657 1,897 4,089 1,180 1,756 (799) 13,780 Income tax expense (benefit) 1,415 473 1,013 296 (52) (799) 2,346 Net income before noncontrolling interests 4,242 1,424 3,076 884 1,808 — 11,434 Less: Net income (loss) from noncontrolling interests — 3 (2) — 757 — 758 Net income $ 4,242 1,421 3,078 884 1,051 — 10,676 (continued on following page) (continued from previous page) Consumer Banking and Lending Commercial Banking Corporate and Investment Banking Wealth and Investment Management Corporate Reconciling Items (1) Consolidated Quarter ended June 30, 2022 Loans (average) $ 330,859 202,019 298,694 85,912 9,083 — 926,567 Assets (average) 379,194 223,890 564,306 92,575 642,606 — 1,902,571 Deposits (average) 898,650 188,286 164,860 173,670 20,327 — 1,445,793 Six months ended June 30, 2022 Loans (average) $ 327,973 198,228 291,635 85,342 9,187 — 912,365 Assets (average) 377,043 219,438 557,891 91,713 664,850 — 1,910,935 Deposits (average) 890,042 194,458 167,009 179,708 23,665 — 1,454,882 Loans (period-end) 335,732 205,241 308,286 85,342 9,133 — 943,734 Assets (period-end) 380,353 229,454 567,733 91,944 611,658 — 1,881,142 Deposits (period-end) 892,373 183,145 162,439 165,633 21,563 — 1,425,153 Quarter ended June 30, 2021 Loans (average) $ 331,892 178,572 252,422 81,784 10,077 — 854,747 Assets (average) 388,617 195,453 513,414 87,766 754,629 — 1,939,879 Deposits (average) 835,752 192,586 190,810 174,980 41,696 — 1,435,824 Six months ended June 30, 2021 Loans (average) $ 342,428 180,845 249,302 81,314 10,152 — 864,041 Assets (average) 398,530 197,396 512,476 87,562 741,203 — 1,937,167 Deposits (average) 812,723 190,984 192,645 174,333 44,080 — 1,414,765 Loans (period-end) 326,760 178,905 253,259 82,783 10,593 — 852,300 Assets (period-end) 382,464 196,421 516,518 88,678 761,915 — 1,945,996 Deposits (period-end) 840,434 197,461 188,219 174,267 40,091 — 1,440,472 (1) Taxable-equivalent adjustments related to tax-exempt income on certain loans and debt securities are included in net interest income, while taxable-equivalent adjustments related to income tax credits for low-income housing and renewable energy investments are included in noninterest income, in each case with corresponding impacts to income tax expense (benefit). Adjustments are included in Corporate, Commercial Banking, and Corporate and Investment Banking and are eliminated to reconcile to the Company’s consolidated financial results. (2) Net interest income is interest earned on assets minus the interest paid on liabilities to fund those assets. Segment interest earned includes actual interest income on segment assets as well as a funding credit for their deposits. Segment interest paid on liabilities includes actual interest expense on segment liabilities as well as a funding charge for their assets. |
Regulatory Capital Requiremen_2
Regulatory Capital Requirements and Other Restrictions (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Regulatory Capital Requirements and Other Restrictions [Abstract] | |
Regulatory Capital Information | Table 23.1 presents regulatory capital information for Wells Fargo & Company and the Bank in accordance with Basel III capital requirements. We must calculate our risk-based capital ratios under both the Standardized and Advanced Approaches. 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. At June 30, 2022, the Bank and our other insured depository institutions were considered well-capitalized under the requirements of the Federal Deposit Insurance Act. Table 23.1: Regulatory Capital Information Wells Fargo & Company Wells Fargo Bank, N.A. Standardized Approach Advanced Approach Standardized Approach Advanced Approach (in millions, except ratios) June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 Regulatory capital: Common Equity Tier 1 $ 130,068 140,643 130,068 140,643 140,383 149,318 140,383 149,318 Tier 1 149,116 159,671 149,116 159,671 140,383 149,318 140,383 149,318 Total 183,620 196,308 174,783 186,580 163,090 173,044 154,279 163,213 Assets: Risk-weighted assets 1,253,618 1,239,026 1,121,572 1,116,068 1,182,778 1,137,839 1,001,559 965,511 Adjusted average assets 1,874,291 1,915,585 1,874,291 1,915,585 1,713,716 1,758,479 1,713,716 1,758,479 Regulatory capital ratios: Common Equity Tier 1 capital 10.38 % * 11.35 11.60 12.60 11.87 * 13.12 14.02 15.47 Tier 1 capital 11.89 * 12.89 13.30 14.31 11.87 * 13.12 14.02 15.47 Total capital 14.65 * 15.84 15.58 16.72 13.79 * 15.21 15.40 16.90 Required minimum capital ratios: Common Equity Tier 1 capital 9.10 9.60 8.50 9.00 7.00 7.00 7.00 7.00 Tier 1 capital 10.60 11.10 10.00 10.50 8.50 8.50 8.50 8.50 Total capital 12.60 13.10 12.00 12.50 10.50 10.50 10.50 10.50 Wells Fargo & Company Wells Fargo Bank, N.A. June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 Regulatory leverage: Total leverage exposure (1) $ 2,250,127 2,316,079 2,079,470 2,133,798 Supplementary leverage ratio (SLR) (1) 6.63 % 6.89 6.75 7.00 Tier 1 leverage ratio (2) 7.96 8.34 8.19 8.49 Required minimum leverage: Supplementary leverage ratio 5.00 5.00 6.00 6.00 Tier 1 leverage ratio 4.00 4.00 4.00 4.00 * Denotes the binding ratio under the Standardized and Advanced Approaches at June 30, 2022. (1) The 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. (2) The tier 1 leverage ratio consists of tier 1 capital divided by total average assets, excluding goodwill and certain other items as determined under the rule. |
Nature of Restrictions on Cash and Cash Equivalents | Table 23.2 provides a summary of restrictions on cash and cash equivalents . Table 23.2: Nature of Restrictions on Cash and Cash Equivalents (in millions) Jun 30, Dec 31, Reserve balance for non-U.S. central banks $ 255 382 Segregated for benefit of brokerage customers under federal and other brokerage regulations 739 830 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Supplemental cash flow information - Noncash activities | ||
Available-for-sale debt securities purchased from securitization of LHFS | $ 1,506 | $ 0 |
Held-to-maturity debt securities purchased from securitization of LHFS | 693 | 16,462 |
Transfers from loans to LHFS | 4,970 | 11,551 |
Transfers from available-for-sale debt securities to held-to-maturity debt securities | $ 43,041 | $ 41,298 |
Trading Assets and Liabilities
Trading Assets and Liabilities (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Trading Assets and Liabilities [Line Items] | ||
Trading debt securities | $ 89,157 | $ 88,265 |
Equity securities, carried at fair value | 27,653 | 39,098 |
Loans held for sale | 9,674 | 23,617 |
Gross derivative asset | 64,373 | 45,876 |
Derivative assets | 24,896 | 21,478 |
Total trading assets | 140,616 | 139,162 |
Short sale | 22,116 | 20,685 |
Gross trading derivative liabilities | 56,532 | 41,238 |
Derivative liabilities | 17,168 | 9,424 |
Total trading liabilities | 38,594 | 29,156 |
Other liabilities [Member] | ||
Trading Assets and Liabilities [Line Items] | ||
Total trading liabilities | 518 | 0 |
Related to trading activities [Member] | ||
Trading Assets and Liabilities [Line Items] | ||
Equity securities, carried at fair value | 25,930 | 27,476 |
Loans held for sale | 1,913 | 3,242 |
Gross derivative asset | 67,487 | 48,325 |
Netting | (43,871) | (28,146) |
Derivative assets | 23,616 | 20,179 |
Short sale | 22,116 | 20,685 |
Gross trading derivative liabilities | 58,182 | 42,449 |
Netting | (42,222) | (33,978) |
Derivative liabilities | $ 15,960 | $ 8,471 |
Trading Activities Net Interest
Trading Activities Net Interest Income and Net Gains (Losses) on Trading Activities (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net Interest Income and Net Gains (Losses) from Trading Activities [Line Items] | ||||
Debt securities, interest income | $ 549 | $ 496 | $ 1,097 | $ 1,025 |
Equity securities, interest income | 193 | 132 | 363 | 269 |
Total interest income | 11,556 | 9,693 | 21,737 | 19,739 |
Less: Interest expense | 158 | 105 | 290 | 215 |
Net interest Income | 10,198 | 8,800 | 19,419 | 17,608 |
Debt securities, net gains (losses) | (3,103) | 769 | (6,751) | (1,337) |
Equity securities, net gains (losses) | (3,606) | 856 | (4,430) | 2,009 |
Loans held for sale, net gains (losses) | 1 | 15 | 10 | 39 |
Other liabilities | 11 | 0 | 23 | 0 |
Derivatives | 7,143 | (1,619) | 11,812 | (342) |
Total net gains from trading activities | 446 | 21 | 664 | 369 |
Total trading-related net interest and noninterest income | 985 | 508 | 1,750 | 1,390 |
Related to trading activities [Member] | ||||
Net Interest Income and Net Gains (Losses) from Trading Activities [Line Items] | ||||
Equity securities, interest income | 139 | 93 | 259 | 196 |
Loans held for sale, interest income | 9 | 3 | 20 | 15 |
Total interest income | 697 | 592 | 1,376 | 1,236 |
Net interest Income | $ 539 | $ 487 | $ 1,086 | $ 1,021 |
AFS and HTM Debt Securities, Ou
AFS and HTM Debt Securities, Outstanding (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Available-for-sale debt securities: | ||
Available-for-sale, at amortized cost, net | $ 131,991 | $ 175,463 |
Available-for-sale, gross unrealized gains | 190 | 2,635 |
Available-for-sale, gross unrealized losses | (6,349) | (854) |
Available-for-sale, at fair value | 125,832 | 177,244 |
Held-to-maturity debt securities: | ||
Held-to-maturity, amortized cost, net | 301,783 | 272,022 |
Held-to-maturity, gross unrealized gains | 29 | 3,570 |
Held-to-maturity, gross unrealized losses | (29,768) | (3,206) |
Held-to-maturity, at fair value | 272,044 | 272,386 |
Total AFS and HTM Debt securities: | ||
Amortized cost, net | 433,774 | 447,485 |
Debt securities, gross unrealized gains | 219 | 6,205 |
Debt securities, gross unrealized losses | (36,117) | (4,060) |
Fair value | 397,876 | 449,630 |
Allowance for credit loss, available-for-sale debt securities | 9 | 8 |
Allowance for credit loss, held-to-maturity debt securities | 83 | 96 |
Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale debt securities: | ||
Available-for-sale, at amortized cost, net | 48,772 | 39,668 |
Available-for-sale, gross unrealized gains | 37 | 185 |
Available-for-sale, gross unrealized losses | (2,294) | (192) |
Available-for-sale, at fair value | 46,515 | 39,661 |
Held-to-maturity debt securities: | ||
Held-to-maturity, amortized cost, net | 16,198 | 16,544 |
Held-to-maturity, gross unrealized gains | 0 | 599 |
Held-to-maturity, gross unrealized losses | (1,232) | (318) |
Held-to-maturity, at fair value | 14,966 | 16,825 |
Non-U.S. government securities [Member] | ||
Available-for-sale debt securities: | ||
Available-for-sale, at amortized cost, net | 166 | 71 |
Available-for-sale, gross unrealized gains | 0 | 0 |
Available-for-sale, gross unrealized losses | 0 | 0 |
Available-for-sale, at fair value | 166 | 71 |
Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale debt securities: | ||
Available-for-sale, at amortized cost, net | 12,444 | 16,618 |
Available-for-sale, gross unrealized gains | 45 | 350 |
Available-for-sale, gross unrealized losses | (413) | (51) |
Available-for-sale, at fair value | 12,076 | 16,917 |
Held-to-maturity debt securities: | ||
Held-to-maturity, amortized cost, net | 32,483 | 32,689 |
Held-to-maturity, gross unrealized gains | 28 | 847 |
Held-to-maturity, gross unrealized losses | (3,812) | (61) |
Held-to-maturity, at fair value | 28,699 | 33,475 |
Securities of U.S. states and political subdivisions [Member] | Nontaxable preferred debt securities [Member] | ||
Available-for-sale debt securities: | ||
Available-for-sale, at amortized cost, net | 5,400 | 5,200 |
Available-for-sale, at fair value | 5,400 | 5,200 |
Federal agency mortgage-backed securities [Member] | ||
Available-for-sale debt securities: | ||
Available-for-sale, at amortized cost, net | 59,559 | 104,661 |
Available-for-sale, gross unrealized gains | 13 | 1,807 |
Available-for-sale, gross unrealized losses | (3,377) | (582) |
Available-for-sale, at fair value | 56,195 | 105,886 |
Held-to-maturity debt securities: | ||
Held-to-maturity, amortized cost, net | 219,972 | 188,909 |
Held-to-maturity, gross unrealized gains | 0 | 1,882 |
Held-to-maturity, gross unrealized losses | (23,737) | (2,807) |
Held-to-maturity, at fair value | 196,235 | 187,984 |
Non-agency mortgage-backed securities [Member] | ||
Available-for-sale debt securities: | ||
Available-for-sale, at amortized cost, net | 3,917 | 4,515 |
Available-for-sale, gross unrealized gains | 4 | 32 |
Available-for-sale, gross unrealized losses | (117) | (15) |
Available-for-sale, at fair value | 3,804 | 4,532 |
Held-to-maturity debt securities: | ||
Held-to-maturity, amortized cost, net | 1,220 | 1,082 |
Held-to-maturity, gross unrealized gains | 0 | 31 |
Held-to-maturity, gross unrealized losses | (121) | (18) |
Held-to-maturity, at fair value | 1,099 | 1,095 |
Collateralized loan obligations [Member] | ||
Available-for-sale debt securities: | ||
Available-for-sale, at amortized cost, net | 4,513 | 5,713 |
Available-for-sale, gross unrealized gains | 0 | 2 |
Available-for-sale, gross unrealized losses | (104) | (7) |
Available-for-sale, at fair value | 4,409 | 5,708 |
Held-to-maturity debt securities: | ||
Held-to-maturity, amortized cost, net | 30,183 | 31,067 |
Held-to-maturity, gross unrealized gains | 1 | 194 |
Held-to-maturity, gross unrealized losses | (760) | (2) |
Held-to-maturity, at fair value | 29,424 | 31,259 |
Other debt securities [Member] | ||
Available-for-sale debt securities: | ||
Available-for-sale, at amortized cost, net | 2,620 | 4,217 |
Available-for-sale, gross unrealized gains | 91 | 259 |
Available-for-sale, gross unrealized losses | (44) | (7) |
Available-for-sale, at fair value | 2,667 | 4,469 |
Held-to-maturity debt securities: | ||
Held-to-maturity, amortized cost, net | 1,727 | 1,731 |
Held-to-maturity, gross unrealized gains | 0 | 17 |
Held-to-maturity, gross unrealized losses | (106) | 0 |
Held-to-maturity, at fair value | $ 1,621 | $ 1,748 |
AFS and HTM Debt Securities, HT
AFS and HTM Debt Securities, HTM Debt Securities Purchases and Transfers (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Debt Securities, Held-to-maturity Purchase or Transfer of Investment [Abstract] | ||||
Purchases of held-to-maturity debt securities | $ 64 | $ 29,468 | $ 3,053 | $ 60,227 |
Transfers from available-for-sale debt securities to held-to-maturity debt securities | 28,390 | 24,681 | 43,041 | 41,298 |
Unrealized losses on debt securities transferred from AFS to HTM, before Tax | 3,500 | 269 | 3,900 | 615 |
Securities of U.S. states and political subdivisions [Member] | ||||
Debt Securities, Held-to-maturity Purchase or Transfer of Investment [Abstract] | ||||
Purchases of held-to-maturity debt securities | 9 | 1,173 | 843 | 3,083 |
Federal agency mortgage-backed securities [Member] | ||||
Debt Securities, Held-to-maturity Purchase or Transfer of Investment [Abstract] | ||||
Purchases of held-to-maturity debt securities | 0 | 24,855 | 2,051 | 49,722 |
Transfers from available-for-sale debt securities to held-to-maturity debt securities | 28,390 | 24,681 | 43,041 | 41,298 |
Non-agency mortgage-backed securities [Member] | ||||
Debt Securities, Held-to-maturity Purchase or Transfer of Investment [Abstract] | ||||
Purchases of held-to-maturity debt securities | 55 | 55 | 159 | 84 |
Collateralized loan obligations [Member] | ||||
Debt Securities, Held-to-maturity Purchase or Transfer of Investment [Abstract] | ||||
Purchases of held-to-maturity debt securities | $ 0 | $ 3,385 | $ 0 | $ 7,338 |
AFS and HTM Debt Securities, In
AFS and HTM Debt Securities, Income Statement Impacts (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
AFS and HTM Debt Securities [Abstract] | ||||
Debt securities, held-to-maturity, sold, realized gain (Loss) | $ 0 | $ 0 | $ 0 | $ 0 |
Available For Sale and Held To Maturity Debt Securities Income Statement Impacts [Abstract] | ||||
Interest income, Available-for-sale | 683 | 655 | 1,385 | 1,466 |
Interest income, Held-to-maturity | 1,470 | 1,048 | 2,783 | 2,020 |
Total interest income | 2,153 | 1,703 | 4,168 | 3,486 |
Provision for credit losses, Available-for-sale, | 3 | (10) | 4 | 12 |
Provision for credit losses, Held-to-maturity | (1) | (11) | (14) | 36 |
Total provision for credit losses | 2 | (21) | (10) | 48 |
Gross realized gains | 247 | 1 | 249 | 152 |
Gross realized losses | (104) | (1) | (104) | (1) |
Net realized gains | $ 143 | $ 0 | $ 145 | $ 151 |
AFS and HTM Debt Securities, _2
AFS and HTM Debt Securities, Investment Grade Debt Securities (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Available For Sale And Held To Maturity Debt Securities Credit Ratings [Abstract] | ||
Available-for-sale, at fair value | $ 125,832 | $ 177,244 |
Available-for-sale, percent of investment grade | 99% | 99% |
Held-to-maturity, amortized cost | $ 301,866 | $ 272,118 |
Held-to-maturity, percent of investment grade | 99% | 99% |
Credit rating AA- and above [Member] | ||
Available For Sale And Held To Maturity Debt Securities Credit Ratings [Abstract] | ||
Percentage of AFS and HTM debt securities with the same credit rating | 98% | 98% |
Securities of U.S. Treasury and federal agencies [Member] | ||
Available For Sale And Held To Maturity Debt Securities Credit Ratings [Abstract] | ||
Available-for-sale, at fair value | $ 102,710 | $ 145,547 |
Available-for-sale, percent of investment grade | 100% | 100% |
Held-to-maturity, amortized cost | $ 236,170 | $ 205,453 |
Held-to-maturity, percent of investment grade | 100% | 100% |
Securities of U.S. states and political subdivisions [Member] | ||
Available For Sale And Held To Maturity Debt Securities Credit Ratings [Abstract] | ||
Available-for-sale, at fair value | $ 12,076 | $ 16,917 |
Available-for-sale, percent of investment grade | 99% | 99% |
Held-to-maturity, amortized cost | $ 32,498 | $ 32,704 |
Held-to-maturity, percent of investment grade | 100% | 100% |
Collateralized loan obligations [Member] | ||
Available For Sale And Held To Maturity Debt Securities Credit Ratings [Abstract] | ||
Available-for-sale, at fair value | $ 4,409 | $ 5,708 |
Available-for-sale, percent of investment grade | 100% | 100% |
Held-to-maturity, amortized cost | $ 30,228 | $ 31,128 |
Held-to-maturity, percent of investment grade | 100% | 100% |
Collateralized loan obligations [Member] | Credit rating AA- and above [Member] | ||
Available For Sale And Held To Maturity Debt Securities Credit Ratings [Abstract] | ||
Percentage of AFS and HTM debt securities with the same credit rating | 100% | 100% |
All other debt securities [Member] | ||
Available For Sale And Held To Maturity Debt Securities Credit Ratings [Abstract] | ||
Available-for-sale, at fair value | $ 6,637 | $ 9,072 |
Available-for-sale, percent of investment grade | 89% | 88% |
Held-to-maturity, amortized cost | $ 2,970 | $ 2,833 |
Held-to-maturity, percent of investment grade | 61% | 64% |
AFS and HTM Debt Securities, Gr
AFS and HTM Debt Securities, Gross Unrealized Losses and Fair Value (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | $ (5,725) | $ (569) |
Less than 12 months, Fair value, available-for-sale | 107,770 | 71,006 |
12 months or more, Gross unrealized losses, available-for-sale | (624) | (285) |
12 months or more, Fair value, available-for-sale | 6,898 | 12,405 |
Total, Gross unrealized losses, available-for-sale | (6,349) | (854) |
Total Fair value, available for sale | 114,668 | 83,411 |
Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (2,222) | (192) |
Less than 12 months, Fair value, available-for-sale | 42,780 | 24,418 |
12 months or more, Gross unrealized losses, available-for-sale | (72) | 0 |
12 months or more, Fair value, available-for-sale | 1,741 | 0 |
Total, Gross unrealized losses, available-for-sale | (2,294) | (192) |
Total Fair value, available for sale | 44,521 | 24,418 |
Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (296) | (36) |
Less than 12 months, Fair value, available-for-sale | 4,020 | 2,308 |
12 months or more, Gross unrealized losses, available-for-sale | (117) | (15) |
12 months or more, Fair value, available-for-sale | 602 | 532 |
Total, Gross unrealized losses, available-for-sale | (413) | (51) |
Total Fair value, available for sale | 4,622 | 2,840 |
Federal agency mortgage-backed securities [Member] | ||
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (2,996) | (334) |
Less than 12 months, Fair value, available-for-sale | 51,990 | 40,695 |
12 months or more, Gross unrealized losses, available-for-sale | (381) | (248) |
12 months or more, Fair value, available-for-sale | 2,999 | 9,464 |
Total, Gross unrealized losses, available-for-sale | (3,377) | (582) |
Total Fair value, available for sale | 54,989 | 50,159 |
Non-agency mortgage-backed securities [Member] | ||
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (94) | (4) |
Less than 12 months, Fair value, available-for-sale | 3,253 | 1,966 |
12 months or more, Gross unrealized losses, available-for-sale | (23) | (11) |
12 months or more, Fair value, available-for-sale | 493 | 543 |
Total, Gross unrealized losses, available-for-sale | (117) | (15) |
Total Fair value, available for sale | 3,746 | 2,509 |
Collateralized loan obligations [Member] | ||
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (88) | (3) |
Less than 12 months, Fair value, available-for-sale | 3,857 | 1,619 |
12 months or more, Gross unrealized losses, available-for-sale | (16) | (4) |
12 months or more, Fair value, available-for-sale | 552 | 1,242 |
Total, Gross unrealized losses, available-for-sale | (104) | (7) |
Total Fair value, available for sale | 4,409 | 2,861 |
Other debt securities [Member] | ||
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (29) | 0 |
Less than 12 months, Fair value, available-for-sale | 1,870 | 0 |
12 months or more, Gross unrealized losses, available-for-sale | (15) | (7) |
12 months or more, Fair value, available-for-sale | 511 | 624 |
Total, Gross unrealized losses, available-for-sale | (44) | (7) |
Total Fair value, available for sale | $ 2,381 | $ 624 |
AFS Debt Securities, Contractua
AFS Debt Securities, Contractual Maturities (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Debt Securities, Available-for-sale, Amortized Cost, Fiscal Year Maturity [Abstract] | ||
Available-for-sale, at amortized cost, net | $ 131,991 | $ 175,463 |
Available-for-sale, amortized cost, net, remaining contractual maturity, due within one year | 3,203 | |
Available-for-sale, amortized cost, net, remaining contractual maturity, due after one year through five years | 20,675 | |
Available-for-sale, amortized cost, net, remaining contractual maturity, due after five years through ten years | 39,221 | |
Available-for-sale, amortized cost, net, remaining contractual maturity, due after ten years | 68,892 | |
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract] | ||
Available-for-sale, fair value | 125,832 | 177,244 |
Available-for-sale, fair value, remaining contractual maturity, due within one year | 3,171 | |
Available-for-sale, fair value, remaining contractual maturity, due after one year through five years | 20,339 | |
Available-for-sale, fair value, remaining contractual maturity, due after five years through ten years | 36,939 | |
Available-for-sale, fair value, remaining contractual maturity, due after ten years | $ 65,383 | |
Debt Securities, Available-for-Sale, Weighted Average Yield, Maturity [Abstract] | ||
Available-for-sale, weighted average yield | 2.15% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due within one year | 1.03% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due after one year through five years | 0.58% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due after five years through ten years | 1.66% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due after ten years | 2.95% | |
Securities of U.S. Treasury and federal agencies [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost, Fiscal Year Maturity [Abstract] | ||
Available-for-sale, at amortized cost, net | $ 48,772 | 39,668 |
Available-for-sale, amortized cost, net, remaining contractual maturity, due within one year | 1,977 | |
Available-for-sale, amortized cost, net, remaining contractual maturity, due after one year through five years | 17,259 | |
Available-for-sale, amortized cost, net, remaining contractual maturity, due after five years through ten years | 27,892 | |
Available-for-sale, amortized cost, net, remaining contractual maturity, due after ten years | 1,644 | |
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract] | ||
Available-for-sale, fair value | 46,515 | 39,661 |
Available-for-sale, fair value, remaining contractual maturity, due within one year | 1,948 | |
Available-for-sale, fair value, remaining contractual maturity, due after one year through five years | 16,916 | |
Available-for-sale, fair value, remaining contractual maturity, due after five years through ten years | 25,983 | |
Available-for-sale, fair value, remaining contractual maturity, due after ten years | $ 1,668 | |
Debt Securities, Available-for-Sale, Weighted Average Yield, Maturity [Abstract] | ||
Available-for-sale, weighted average yield | 1.03% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due within one year | 0.55% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due after one year through five years | 0.35% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due after five years through ten years | 1.45% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due after ten years | 1.44% | |
Non-U.S. government securities [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost, Fiscal Year Maturity [Abstract] | ||
Available-for-sale, at amortized cost, net | $ 166 | 71 |
Available-for-sale, amortized cost, net, remaining contractual maturity, due within one year | 1 | |
Available-for-sale, amortized cost, net, remaining contractual maturity, due after one year through five years | 140 | |
Available-for-sale, amortized cost, net, remaining contractual maturity, due after five years through ten years | 25 | |
Available-for-sale, amortized cost, net, remaining contractual maturity, due after ten years | 0 | |
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract] | ||
Available-for-sale, fair value | 166 | 71 |
Available-for-sale, fair value, remaining contractual maturity, due within one year | 1 | |
Available-for-sale, fair value, remaining contractual maturity, due after one year through five years | 140 | |
Available-for-sale, fair value, remaining contractual maturity, due after five years through ten years | 25 | |
Available-for-sale, fair value, remaining contractual maturity, due after ten years | $ 0 | |
Debt Securities, Available-for-Sale, Weighted Average Yield, Maturity [Abstract] | ||
Available-for-sale, weighted average yield | 1.14% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due within one year | 1.49% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due after one year through five years | 1.27% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due after five years through ten years | 0.43% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due after ten years | 0% | |
Securities of U.S. states and political subdivisions [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost, Fiscal Year Maturity [Abstract] | ||
Available-for-sale, at amortized cost, net | $ 12,444 | 16,618 |
Available-for-sale, amortized cost, net, remaining contractual maturity, due within one year | 1,133 | |
Available-for-sale, amortized cost, net, remaining contractual maturity, due after one year through five years | 2,779 | |
Available-for-sale, amortized cost, net, remaining contractual maturity, due after five years through ten years | 5,234 | |
Available-for-sale, amortized cost, net, remaining contractual maturity, due after ten years | 3,298 | |
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract] | ||
Available-for-sale, fair value | 12,076 | 16,917 |
Available-for-sale, fair value, remaining contractual maturity, due within one year | 1,132 | |
Available-for-sale, fair value, remaining contractual maturity, due after one year through five years | 2,795 | |
Available-for-sale, fair value, remaining contractual maturity, due after five years through ten years | 4,977 | |
Available-for-sale, fair value, remaining contractual maturity, due after ten years | $ 3,172 | |
Debt Securities, Available-for-Sale, Weighted Average Yield, Maturity [Abstract] | ||
Available-for-sale, weighted average yield | 1.94% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due within one year | 1.77% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due after one year through five years | 1.73% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due after five years through ten years | 1.88% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due after ten years | 2.28% | |
Federal agency mortgage-backed securities [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost, Fiscal Year Maturity [Abstract] | ||
Available-for-sale, at amortized cost, net | $ 59,559 | 104,661 |
Available-for-sale, amortized cost, net, remaining contractual maturity, due within one year | 0 | |
Available-for-sale, amortized cost, net, remaining contractual maturity, due after one year through five years | 241 | |
Available-for-sale, amortized cost, net, remaining contractual maturity, due after five years through ten years | 1,024 | |
Available-for-sale, amortized cost, net, remaining contractual maturity, due after ten years | 58,294 | |
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract] | ||
Available-for-sale, fair value | 56,195 | 105,886 |
Available-for-sale, fair value, remaining contractual maturity, due within one year | 0 | |
Available-for-sale, fair value, remaining contractual maturity, due after one year through five years | 236 | |
Available-for-sale, fair value, remaining contractual maturity, due after five years through ten years | 999 | |
Available-for-sale, fair value, remaining contractual maturity, due after ten years | $ 54,960 | |
Debt Securities, Available-for-Sale, Weighted Average Yield, Maturity [Abstract] | ||
Available-for-sale, weighted average yield | 3.05% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due within one year | 0% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due after one year through five years | 1.98% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due after five years through ten years | 2.34% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due after ten years | 3.06% | |
Non-agency mortgage-backed securities [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost, Fiscal Year Maturity [Abstract] | ||
Available-for-sale, at amortized cost, net | $ 3,917 | 4,515 |
Available-for-sale, amortized cost, net, remaining contractual maturity, due within one year | 0 | |
Available-for-sale, amortized cost, net, remaining contractual maturity, due after one year through five years | 0 | |
Available-for-sale, amortized cost, net, remaining contractual maturity, due after five years through ten years | 28 | |
Available-for-sale, amortized cost, net, remaining contractual maturity, due after ten years | 3,889 | |
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract] | ||
Available-for-sale, fair value | 3,804 | 4,532 |
Available-for-sale, fair value, remaining contractual maturity, due within one year | 0 | |
Available-for-sale, fair value, remaining contractual maturity, due after one year through five years | 0 | |
Available-for-sale, fair value, remaining contractual maturity, due after five years through ten years | 28 | |
Available-for-sale, fair value, remaining contractual maturity, due after ten years | $ 3,776 | |
Debt Securities, Available-for-Sale, Weighted Average Yield, Maturity [Abstract] | ||
Available-for-sale, weighted average yield | 2.64% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due within one year | 0% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due after one year through five years | 0% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due after five years through ten years | 3.50% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due after ten years | 2.64% | |
Collateralized loan obligations [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost, Fiscal Year Maturity [Abstract] | ||
Available-for-sale, at amortized cost, net | $ 4,513 | 5,713 |
Available-for-sale, amortized cost, net, remaining contractual maturity, due within one year | 0 | |
Available-for-sale, amortized cost, net, remaining contractual maturity, due after one year through five years | 9 | |
Available-for-sale, amortized cost, net, remaining contractual maturity, due after five years through ten years | 4,101 | |
Available-for-sale, amortized cost, net, remaining contractual maturity, due after ten years | 403 | |
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract] | ||
Available-for-sale, fair value | 4,409 | 5,708 |
Available-for-sale, fair value, remaining contractual maturity, due within one year | 0 | |
Available-for-sale, fair value, remaining contractual maturity, due after one year through five years | 9 | |
Available-for-sale, fair value, remaining contractual maturity, due after five years through ten years | 4,013 | |
Available-for-sale, fair value, remaining contractual maturity, due after ten years | $ 387 | |
Debt Securities, Available-for-Sale, Weighted Average Yield, Maturity [Abstract] | ||
Available-for-sale, weighted average yield | 2.43% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due within one year | 0% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due after one year through five years | 2.74% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due after five years through ten years | 2.43% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due after ten years | 2.40% | |
Other debt securities [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost, Fiscal Year Maturity [Abstract] | ||
Available-for-sale, at amortized cost, net | $ 2,620 | 4,217 |
Available-for-sale, amortized cost, net, remaining contractual maturity, due within one year | 92 | |
Available-for-sale, amortized cost, net, remaining contractual maturity, due after one year through five years | 247 | |
Available-for-sale, amortized cost, net, remaining contractual maturity, due after five years through ten years | 917 | |
Available-for-sale, amortized cost, net, remaining contractual maturity, due after ten years | 1,364 | |
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract] | ||
Available-for-sale, fair value | 2,667 | $ 4,469 |
Available-for-sale, fair value, remaining contractual maturity, due within one year | 90 | |
Available-for-sale, fair value, remaining contractual maturity, due after one year through five years | 243 | |
Available-for-sale, fair value, remaining contractual maturity, due after five years through ten years | 914 | |
Available-for-sale, fair value, remaining contractual maturity, due after ten years | $ 1,420 | |
Debt Securities, Available-for-Sale, Weighted Average Yield, Maturity [Abstract] | ||
Available-for-sale, weighted average yield | 2.57% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due within one year | 2.40% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due after one year through five years | 2.43% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due after five years through ten years | 2.42% | |
Available-for-sale, weighted average yield, remaining contractual maturity, due after ten years | 2.72% |
HTM Debt Securities, Contractua
HTM Debt Securities, Contractual Maturities (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Debt Securities, Held-to-maturity, Maturity, Amortized Cost, Net [Abstract] | ||
Held-to-maturity, amortized cost, net | $ 301,783 | $ 272,022 |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due within one year | 1,672 | |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due after one year through five years | 16,043 | |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due after five years through ten years | 16,177 | |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due after ten years | 267,891 | |
Debt Securities, Held-to-maturity, Maturity, Fair Value [Abstract] | ||
Held-to-maturity, fair value | 272,044 | 272,386 |
Held-to-maturity, fair value, remaining contractual maturity, due within one year | 1,670 | |
Held-to-maturity, fair value, remaining contractual maturity, due after one year through five years | 15,811 | |
Held-to-maturity, fair value, remaining contractual maturity, due after five years through ten years | 15,881 | |
Held-to-maturity, fair value, remaining contractual maturity, due after ten years | $ 238,682 | |
Debt Securities, Held-to-Maturity, Weighted Average Yield, Maturity [Abstract] | ||
Held-to-maturity weighted average yield | 2.26% | |
Held-to-maturity, weighted average yield, remaining contractual maturity, due within one year | 2.29% | |
Held-to-maturity, weighted average yield, remaining contractual maturity, due after one year through five years | 2.28% | |
Held-to-maturity, weighted average yield, remaining contractual maturity, due after five years through ten years | 2.70% | |
Held-to-maturity, weighed average yield, remaining contractual maturity, due after ten years | 2.24% | |
Securities of U.S. Treasury and federal agencies [Member] | ||
Debt Securities, Held-to-maturity, Maturity, Amortized Cost, Net [Abstract] | ||
Held-to-maturity, amortized cost, net | $ 16,198 | 16,544 |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due within one year | 0 | |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due after one year through five years | 12,413 | |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due after five years through ten years | 0 | |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due after ten years | 3,785 | |
Debt Securities, Held-to-maturity, Maturity, Fair Value [Abstract] | ||
Held-to-maturity, fair value | 14,966 | 16,825 |
Held-to-maturity, fair value, remaining contractual maturity, due within one year | 0 | |
Held-to-maturity, fair value, remaining contractual maturity, due after one year through five years | 12,249 | |
Held-to-maturity, fair value, remaining contractual maturity, due after five years through ten years | 0 | |
Held-to-maturity, fair value, remaining contractual maturity, due after ten years | $ 2,717 | |
Debt Securities, Held-to-Maturity, Weighted Average Yield, Maturity [Abstract] | ||
Held-to-maturity weighted average yield | 2.18% | |
Held-to-maturity, weighted average yield, remaining contractual maturity, due within one year | 0% | |
Held-to-maturity, weighted average yield, remaining contractual maturity, due after one year through five years | 2.37% | |
Held-to-maturity, weighted average yield, remaining contractual maturity, due after five years through ten years | 0% | |
Held-to-maturity, weighed average yield, remaining contractual maturity, due after ten years | 1.58% | |
Securities of U.S. states and political subdivisions [Member] | ||
Debt Securities, Held-to-maturity, Maturity, Amortized Cost, Net [Abstract] | ||
Held-to-maturity, amortized cost, net | $ 32,483 | 32,689 |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due within one year | 1,657 | |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due after one year through five years | 2,852 | |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due after five years through ten years | 2,091 | |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due after ten years | 25,883 | |
Debt Securities, Held-to-maturity, Maturity, Fair Value [Abstract] | ||
Held-to-maturity, fair value | 28,699 | 33,475 |
Held-to-maturity, fair value, remaining contractual maturity, due within one year | 1,656 | |
Held-to-maturity, fair value, remaining contractual maturity, due after one year through five years | 2,815 | |
Held-to-maturity, fair value, remaining contractual maturity, due after five years through ten years | 2,061 | |
Held-to-maturity, fair value, remaining contractual maturity, due after ten years | $ 22,167 | |
Debt Securities, Held-to-Maturity, Weighted Average Yield, Maturity [Abstract] | ||
Held-to-maturity weighted average yield | 2.14% | |
Held-to-maturity, weighted average yield, remaining contractual maturity, due within one year | 2.28% | |
Held-to-maturity, weighted average yield, remaining contractual maturity, due after one year through five years | 1.40% | |
Held-to-maturity, weighted average yield, remaining contractual maturity, due after five years through ten years | 2.37% | |
Held-to-maturity, weighed average yield, remaining contractual maturity, due after ten years | 2.19% | |
Federal agency mortgage-backed securities [Member] | ||
Debt Securities, Held-to-maturity, Maturity, Amortized Cost, Net [Abstract] | ||
Held-to-maturity, amortized cost, net | $ 219,972 | 188,909 |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due within one year | 0 | |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due after one year through five years | 0 | |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due after five years through ten years | 0 | |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due after ten years | 219,972 | |
Debt Securities, Held-to-maturity, Maturity, Fair Value [Abstract] | ||
Held-to-maturity, fair value | 196,235 | 187,984 |
Held-to-maturity, fair value, remaining contractual maturity, due within one year | 0 | |
Held-to-maturity, fair value, remaining contractual maturity, due after one year through five years | 0 | |
Held-to-maturity, fair value, remaining contractual maturity, due after five years through ten years | 0 | |
Held-to-maturity, fair value, remaining contractual maturity, due after ten years | $ 196,235 | |
Debt Securities, Held-to-Maturity, Weighted Average Yield, Maturity [Abstract] | ||
Held-to-maturity weighted average yield | 2.24% | |
Held-to-maturity, weighted average yield, remaining contractual maturity, due within one year | 0% | |
Held-to-maturity, weighted average yield, remaining contractual maturity, due after one year through five years | 0% | |
Held-to-maturity, weighted average yield, remaining contractual maturity, due after five years through ten years | 0% | |
Held-to-maturity, weighed average yield, remaining contractual maturity, due after ten years | 2.24% | |
Non-agency mortgage-backed securities [Member] | ||
Debt Securities, Held-to-maturity, Maturity, Amortized Cost, Net [Abstract] | ||
Held-to-maturity, amortized cost, net | $ 1,220 | 1,082 |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due within one year | 15 | |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due after one year through five years | 18 | |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due after five years through ten years | 49 | |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due after ten years | 1,138 | |
Debt Securities, Held-to-maturity, Maturity, Fair Value [Abstract] | ||
Held-to-maturity, fair value | 1,099 | 1,095 |
Held-to-maturity, fair value, remaining contractual maturity, due within one year | 14 | |
Held-to-maturity, fair value, remaining contractual maturity, due after one year through five years | 18 | |
Held-to-maturity, fair value, remaining contractual maturity, due after five years through ten years | 47 | |
Held-to-maturity, fair value, remaining contractual maturity, due after ten years | $ 1,020 | |
Debt Securities, Held-to-Maturity, Weighted Average Yield, Maturity [Abstract] | ||
Held-to-maturity weighted average yield | 3.02% | |
Held-to-maturity, weighted average yield, remaining contractual maturity, due within one year | 3.24% | |
Held-to-maturity, weighted average yield, remaining contractual maturity, due after one year through five years | 2.93% | |
Held-to-maturity, weighted average yield, remaining contractual maturity, due after five years through ten years | 3.43% | |
Held-to-maturity, weighed average yield, remaining contractual maturity, due after ten years | 3% | |
Collateralized loan obligations [Member] | ||
Debt Securities, Held-to-maturity, Maturity, Amortized Cost, Net [Abstract] | ||
Held-to-maturity, amortized cost, net | $ 30,183 | 31,067 |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due within one year | 0 | |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due after one year through five years | 0 | |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due after five years through ten years | 13,070 | |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due after ten years | 17,113 | |
Debt Securities, Held-to-maturity, Maturity, Fair Value [Abstract] | ||
Held-to-maturity, fair value | 29,424 | 31,259 |
Held-to-maturity, fair value, remaining contractual maturity, due within one year | 0 | |
Held-to-maturity, fair value, remaining contractual maturity, due after one year through five years | 0 | |
Held-to-maturity, fair value, remaining contractual maturity, due after five years through ten years | 12,881 | |
Held-to-maturity, fair value, remaining contractual maturity, due after ten years | $ 16,543 | |
Debt Securities, Held-to-Maturity, Weighted Average Yield, Maturity [Abstract] | ||
Held-to-maturity weighted average yield | 2.50% | |
Held-to-maturity, weighted average yield, remaining contractual maturity, due within one year | 0% | |
Held-to-maturity, weighted average yield, remaining contractual maturity, due after one year through five years | 0% | |
Held-to-maturity, weighted average yield, remaining contractual maturity, due after five years through ten years | 2.60% | |
Held-to-maturity, weighed average yield, remaining contractual maturity, due after ten years | 2.42% | |
Other debt securities [Member] | ||
Debt Securities, Held-to-maturity, Maturity, Amortized Cost, Net [Abstract] | ||
Held-to-maturity, amortized cost, net | $ 1,727 | 1,731 |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due within one year | 0 | |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due after one year through five years | 760 | |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due after five years through ten years | 967 | |
Held-to-maturity, amortized cost, net, remaining contractual maturity, due after ten years | 0 | |
Debt Securities, Held-to-maturity, Maturity, Fair Value [Abstract] | ||
Held-to-maturity, fair value | 1,621 | $ 1,748 |
Held-to-maturity, fair value, remaining contractual maturity, due within one year | 0 | |
Held-to-maturity, fair value, remaining contractual maturity, due after one year through five years | 729 | |
Held-to-maturity, fair value, remaining contractual maturity, due after five years through ten years | 892 | |
Held-to-maturity, fair value, remaining contractual maturity, due after ten years | $ 0 | |
Debt Securities, Held-to-Maturity, Weighted Average Yield, Maturity [Abstract] | ||
Held-to-maturity weighted average yield | 4.47% | |
Held-to-maturity, weighted average yield, remaining contractual maturity, due within one year | 0% | |
Held-to-maturity, weighted average yield, remaining contractual maturity, due after one year through five years | 4.13% | |
Held-to-maturity, weighted average yield, remaining contractual maturity, due after five years through ten years | 4.74% | |
Held-to-maturity, weighed average yield, remaining contractual maturity, due after ten years | 0% |
Loans and Related Allowance f_3
Loans and Related Allowance for Credit Losses, Loans Outstanding (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 943,734 | $ 852,300 | $ 895,394 |
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||
Deferred income as a percentage of total loans outstanding | 1% | 1% | |
Total Commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 549,919 | $ 513,120 | |
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||
Financing receivable, accrued interest, writeoff | 20 | 24 | |
Total Commercial [Member] | Non-U.S. [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 91,378 | 86,697 | |
Commercial and industrial loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 380,235 | 350,436 | |
Commercial and industrial loans [Member] | Non-U.S. [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 82,621 | 77,365 | |
Real estate mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 133,411 | 127,733 | |
Real estate mortgage [Member] | Non-U.S. [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 6,442 | 7,070 | |
Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 21,743 | 20,092 | |
Real estate construction [Member] | Non-U.S. [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 1,619 | 1,582 | |
Lease financing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 14,530 | 14,859 | |
Lease financing [Member] | Non-U.S. [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 696 | 680 | |
Total Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 393,815 | 382,274 | |
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||
Financing receivable, accrued interest, writeoff | 65 | $ 104 | |
Residential mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 267,545 | 258,888 | |
Residential mortgage - first lien [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 252,941 | 242,270 | |
Residential mortgage - junior lien [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 14,604 | 16,618 | |
Credit card [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 41,222 | 38,453 | |
Auto [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 55,658 | 56,659 | |
Other consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 29,390 | $ 28,274 |
Loans and Related Allowance f_4
Loans and Related Allowance for Credit Losses, Significant Activity (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Loans and Allowance for Credit Losses, Significant Activity [Abstract] | ||||
Purchases | $ 278 | $ 135 | $ 378 | $ 184 |
Sales | (689) | (65) | (1,271) | (526) |
Transfers (to)/from LHFS | (76) | (458) | (64) | (830) |
Total Commercial [Member] | ||||
Loans and Allowance for Credit Losses, Significant Activity [Abstract] | ||||
Purchases | 276 | 134 | 376 | 182 |
Sales | (689) | (65) | (1,271) | (338) |
Transfers (to)/from LHFS | (62) | (359) | (41) | (794) |
Total Consumer [Member] | ||||
Loans and Allowance for Credit Losses, Significant Activity [Abstract] | ||||
Purchases | 2 | 1 | 2 | 2 |
Sales | 0 | 0 | 0 | (188) |
Transfers (to)/from LHFS | $ (14) | $ (99) | $ (23) | $ (36) |
Loans and Related Allowance f_5
Loans and Related Allowance for Credit Losses, Commitments to Lend (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unfunded credit commitments | $ 683,943 | $ 686,721 |
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | ||
Financing receivable, temporary advance arrangements | 87,600 | |
Total Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unfunded credit commitments | 429,744 | 419,620 |
Commercial and industrial loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unfunded credit commitments | 399,216 | 388,162 |
Real estate mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unfunded credit commitments | 9,350 | 11,515 |
Real estate construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unfunded credit commitments | 21,178 | 19,943 |
Total Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unfunded credit commitments | 254,199 | 267,101 |
Residential mortgage - first lien [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unfunded credit commitments | 24,929 | 32,992 |
Residential mortgage - junior lien [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unfunded credit commitments | 24,142 | 27,447 |
Credit card [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unfunded credit commitments | 137,789 | 130,743 |
Other consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unfunded credit commitments | 67,339 | 75,919 |
International [Member] | Total Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | ||
Letters of credit outstanding, amount | $ 2,200 | $ 1,500 |
Loans and Related Allowance f_6
Loans and Related Allowance for Credit Losses, Allowance for Credit Losses for Loans (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||||
Allowance for credit losses, beginning balance | $ 12,681 | $ 18,043 | $ 13,788 | $ 19,713 | |
Provision for credit losses | 578 | (1,239) | (197) | (2,356) | |
Interest income on certain loans | (27) | (36) | (56) | (77) | |
Loan charge-offs | (654) | (752) | (1,301) | (1,631) | |
Loan recoveries | 310 | 371 | 652 | 737 | |
Net loan charge-offs | (344) | (381) | (649) | (894) | |
Other | (4) | 4 | (2) | 5 | |
Allowance for credit losses, ending balance | 12,884 | 16,391 | 12,884 | 16,391 | |
Allowance for loan losses | 11,786 | 15,148 | 11,786 | 15,148 | $ 12,490 |
Allowance for unfunded credit commitments | $ 1,098 | $ 1,243 | $ 1,098 | $ 1,243 | |
Net loan charge-offs as a percentage of average total loans | 0.15% | 0.18% | 0.14% | 0.21% | |
Allowance for loan losses as a percentage of total loans | 1.25% | 1.78% | 1.25% | 1.78% | |
Allowance for credit losses for loans as a percentage of total loans | 1.37% | 1.92% | 1.37% | 1.92% | |
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||||
Financing receivable, allowance for credit loss, period increase (decrease) | $ (904) | ||||
Total Commercial [Member] | |||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||||
Allowance for credit losses, beginning balance | $ 7,148 | $ 10,682 | 7,791 | $ 11,516 | |
Provision for credit losses | (32) | (1,021) | (697) | (1,688) | |
Interest income on certain loans | (7) | (15) | (16) | (34) | |
Loan charge-offs | (76) | (170) | (136) | (402) | |
Loan recoveries | 53 | 90 | 142 | 173 | |
Net loan charge-offs | (23) | (80) | 6 | (229) | |
Other | (4) | 4 | (2) | 5 | |
Allowance for credit losses, ending balance | 7,082 | 9,570 | 7,082 | 9,570 | |
Commercial and industrial loans [Member] | |||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||||
Loan charge-offs | (68) | (149) | (124) | (308) | |
Loan recoveries | 41 | 68 | 120 | 139 | |
Real estate mortgage [Member] | |||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||||
Loan charge-offs | (3) | (11) | (3) | (63) | |
Loan recoveries | 7 | 16 | 12 | 22 | |
Real estate construction [Member] | |||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||||
Loan charge-offs | 0 | 0 | 0 | 0 | |
Loan recoveries | 0 | 1 | 0 | 1 | |
Lease financing [Member] | |||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||||
Loan charge-offs | (5) | (10) | (9) | (31) | |
Loan recoveries | 5 | 5 | 10 | 11 | |
Total Consumer [Member] | |||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||||
Allowance for credit losses, beginning balance | 5,533 | 7,361 | 5,997 | 8,197 | |
Provision for credit losses | 610 | (218) | 500 | (668) | |
Interest income on certain loans | (20) | (21) | (40) | (43) | |
Loan charge-offs | (578) | (582) | (1,165) | (1,229) | |
Loan recoveries | 257 | 281 | 510 | 564 | |
Net loan charge-offs | (321) | (301) | (655) | (665) | |
Other | 0 | 0 | 0 | 0 | |
Allowance for credit losses, ending balance | 5,802 | 6,821 | 5,802 | 6,821 | |
Residential mortgage - first lien [Member] | |||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||||
Loan charge-offs | (26) | (6) | (51) | (23) | |
Loan recoveries | 29 | 25 | 57 | 66 | |
Residential mortgage - junior lien [Member] | |||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||||
Loan charge-offs | (20) | (12) | (42) | (31) | |
Loan recoveries | 33 | 43 | 73 | 81 | |
Credit card [Member] | |||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||||
Loan charge-offs | (287) | (357) | (554) | (692) | |
Loan recoveries | 88 | 101 | 179 | 200 | |
Auto [Member] | |||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||||
Loan charge-offs | (151) | (128) | (316) | (257) | |
Loan recoveries | 83 | 83 | 152 | 160 | |
Other consumer [Member] | |||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||||
Loan charge-offs | (94) | (79) | (202) | (226) | |
Loan recoveries | $ 24 | $ 29 | $ 49 | $ 57 |
Loans and Related Allowance f_7
Loans and Related Allowance for Credit Losses, Allowance for Credit Losses for Loans Activity by Portfolio Segment (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Allowance for credit losses, beginning balance | $ 12,681 | $ 18,043 | $ 13,788 | $ 19,713 |
Provision for credit losses | 578 | (1,239) | (197) | (2,356) |
Interest income on certain loans | (27) | (36) | (56) | (77) |
Loan charge-offs | (654) | (752) | (1,301) | (1,631) |
Loan recoveries | 310 | 371 | 652 | 737 |
Net loan charge-offs | (344) | (381) | (649) | (894) |
Other | (4) | 4 | (2) | 5 |
Allowance for credit losses, ending balance | 12,884 | 16,391 | 12,884 | 16,391 |
Total Commercial [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Allowance for credit losses, beginning balance | 7,148 | 10,682 | 7,791 | 11,516 |
Provision for credit losses | (32) | (1,021) | (697) | (1,688) |
Interest income on certain loans | (7) | (15) | (16) | (34) |
Loan charge-offs | (76) | (170) | (136) | (402) |
Loan recoveries | 53 | 90 | 142 | 173 |
Net loan charge-offs | (23) | (80) | 6 | (229) |
Other | (4) | 4 | (2) | 5 |
Allowance for credit losses, ending balance | 7,082 | 9,570 | 7,082 | 9,570 |
Total Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Allowance for credit losses, beginning balance | 5,533 | 7,361 | 5,997 | 8,197 |
Provision for credit losses | 610 | (218) | 500 | (668) |
Interest income on certain loans | (20) | (21) | (40) | (43) |
Loan charge-offs | (578) | (582) | (1,165) | (1,229) |
Loan recoveries | 257 | 281 | 510 | 564 |
Net loan charge-offs | (321) | (301) | (655) | (665) |
Other | 0 | 0 | 0 | 0 |
Allowance for credit losses, ending balance | $ 5,802 | $ 6,821 | $ 5,802 | $ 6,821 |
Loans and Related Allowance f_8
Loans and Related Allowance for Credit Losses, Commercial Loan Categories by Risk Categories and Vintage (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 943,734 | $ 895,394 | $ 852,300 |
Total Commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 66,503 | 119,666 | |
Term loans by origination year, fiscal year before current fiscal year | 87,130 | 40,707 | |
Term loans by origination year, two years before current fiscal year | 34,635 | 51,742 | |
Term loans by origination year, three years before current fiscal year | 42,116 | 27,066 | |
Term loans by origination year, four years before current fiscal year | 21,571 | 14,179 | |
Term loans by origination year, more than five years before current fiscal year | 33,044 | 35,226 | |
Revolving loans | 264,131 | 223,833 | |
Revolving loans converted to term loans | 789 | 701 | |
Loans | 549,919 | 513,120 | |
Total Commercial [Member] | Pass [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 526,500 | ||
Total Commercial [Member] | Criticized [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 23,400 | ||
Commercial and industrial loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 39,105 | 67,219 | |
Term loans by origination year, fiscal year before current fiscal year | 38,789 | 16,077 | |
Term loans by origination year, two years before current fiscal year | 12,720 | 21,790 | |
Term loans by origination year, three years before current fiscal year | 17,046 | 8,656 | |
Term loans by origination year, four years before current fiscal year | 6,122 | 4,482 | |
Term loans by origination year, more than five years before current fiscal year | 8,371 | 14,536 | |
Revolving loans | 257,305 | 216,980 | |
Revolving loans converted to term loans | 777 | 696 | |
Loans | 380,235 | 350,436 | |
Commercial and industrial loans [Member] | Pass [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 38,557 | 65,562 | |
Term loans by origination year, fiscal year before current fiscal year | 37,325 | 15,193 | |
Term loans by origination year, two years before current fiscal year | 11,983 | 20,553 | |
Term loans by origination year, three years before current fiscal year | 16,317 | 7,400 | |
Term loans by origination year, four years before current fiscal year | 5,329 | 3,797 | |
Term loans by origination year, more than five years before current fiscal year | 7,622 | 13,985 | |
Revolving loans | 252,271 | 211,452 | |
Revolving loans converted to term loans | 777 | 679 | |
Loans | 370,181 | 338,621 | |
Commercial and industrial loans [Member] | Criticized [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 548 | 1,657 | |
Term loans by origination year, fiscal year before current fiscal year | 1,464 | 884 | |
Term loans by origination year, two years before current fiscal year | 737 | 1,237 | |
Term loans by origination year, three years before current fiscal year | 729 | 1,256 | |
Term loans by origination year, four years before current fiscal year | 793 | 685 | |
Term loans by origination year, more than five years before current fiscal year | 749 | 551 | |
Revolving loans | 5,034 | 5,528 | |
Revolving loans converted to term loans | 0 | 17 | |
Loans | 10,054 | 11,815 | |
Real estate mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 22,570 | 41,658 | |
Term loans by origination year, fiscal year before current fiscal year | 37,087 | 17,048 | |
Term loans by origination year, two years before current fiscal year | 15,155 | 21,988 | |
Term loans by origination year, three years before current fiscal year | 18,542 | 14,452 | |
Term loans by origination year, four years before current fiscal year | 12,609 | 8,326 | |
Term loans by origination year, more than five years before current fiscal year | 21,828 | 18,447 | |
Revolving loans | 5,608 | 5,811 | |
Revolving loans converted to term loans | 12 | 3 | |
Loans | 133,411 | 127,733 | |
Real estate mortgage [Member] | Pass [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 21,684 | 38,196 | |
Term loans by origination year, fiscal year before current fiscal year | 34,936 | 15,929 | |
Term loans by origination year, two years before current fiscal year | 14,144 | 19,013 | |
Term loans by origination year, three years before current fiscal year | 15,869 | 12,618 | |
Term loans by origination year, four years before current fiscal year | 11,230 | 7,451 | |
Term loans by origination year, more than five years before current fiscal year | 19,604 | 16,026 | |
Revolving loans | 5,355 | 5,411 | |
Revolving loans converted to term loans | 12 | 3 | |
Loans | 122,834 | 114,647 | |
Real estate mortgage [Member] | Criticized [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 886 | 3,462 | |
Term loans by origination year, fiscal year before current fiscal year | 2,151 | 1,119 | |
Term loans by origination year, two years before current fiscal year | 1,011 | 2,975 | |
Term loans by origination year, three years before current fiscal year | 2,673 | 1,834 | |
Term loans by origination year, four years before current fiscal year | 1,379 | 875 | |
Term loans by origination year, more than five years before current fiscal year | 2,224 | 2,421 | |
Revolving loans | 253 | 400 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | 10,577 | 13,086 | |
Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 2,730 | 6,405 | |
Term loans by origination year, fiscal year before current fiscal year | 7,098 | 4,324 | |
Term loans by origination year, two years before current fiscal year | 4,033 | 5,135 | |
Term loans by origination year, three years before current fiscal year | 4,386 | 2,401 | |
Term loans by origination year, four years before current fiscal year | 1,661 | 447 | |
Term loans by origination year, more than five years before current fiscal year | 617 | 336 | |
Revolving loans | 1,218 | 1,042 | |
Revolving loans converted to term loans | 0 | 2 | |
Loans | 21,743 | 20,092 | |
Real estate construction [Member] | Pass [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 2,445 | 5,895 | |
Term loans by origination year, fiscal year before current fiscal year | 6,553 | 4,058 | |
Term loans by origination year, two years before current fiscal year | 3,859 | 4,549 | |
Term loans by origination year, three years before current fiscal year | 3,919 | 2,167 | |
Term loans by origination year, four years before current fiscal year | 1,464 | 379 | |
Term loans by origination year, more than five years before current fiscal year | 550 | 329 | |
Revolving loans | 1,218 | 1,042 | |
Revolving loans converted to term loans | 0 | 2 | |
Loans | 20,008 | 18,421 | |
Real estate construction [Member] | Criticized [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 285 | 510 | |
Term loans by origination year, fiscal year before current fiscal year | 545 | 266 | |
Term loans by origination year, two years before current fiscal year | 174 | 586 | |
Term loans by origination year, three years before current fiscal year | 467 | 234 | |
Term loans by origination year, four years before current fiscal year | 197 | 68 | |
Term loans by origination year, more than five years before current fiscal year | 67 | 7 | |
Revolving loans | 0 | 0 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | 1,735 | 1,671 | |
Lease financing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 2,098 | 4,384 | |
Term loans by origination year, fiscal year before current fiscal year | 4,156 | 3,258 | |
Term loans by origination year, two years before current fiscal year | 2,727 | 2,829 | |
Term loans by origination year, three years before current fiscal year | 2,142 | 1,557 | |
Term loans by origination year, four years before current fiscal year | 1,179 | 924 | |
Term loans by origination year, more than five years before current fiscal year | 2,228 | 1,907 | |
Revolving loans | 0 | 0 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | 14,530 | 14,859 | |
Lease financing [Member] | Pass [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 1,941 | 4,100 | |
Term loans by origination year, fiscal year before current fiscal year | 3,897 | 3,012 | |
Term loans by origination year, two years before current fiscal year | 2,536 | 2,547 | |
Term loans by origination year, three years before current fiscal year | 1,938 | 1,373 | |
Term loans by origination year, four years before current fiscal year | 1,052 | 838 | |
Term loans by origination year, more than five years before current fiscal year | 2,144 | 1,805 | |
Revolving loans | 0 | 0 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | 13,508 | 13,675 | |
Lease financing [Member] | Criticized [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 157 | 284 | |
Term loans by origination year, fiscal year before current fiscal year | 259 | 246 | |
Term loans by origination year, two years before current fiscal year | 191 | 282 | |
Term loans by origination year, three years before current fiscal year | 204 | 184 | |
Term loans by origination year, four years before current fiscal year | 127 | 86 | |
Term loans by origination year, more than five years before current fiscal year | 84 | 102 | |
Revolving loans | 0 | 0 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | $ 1,022 | $ 1,184 |
Loans and Related Allowance f_9
Loans and Related Allowance for Credit Losses, Commercial Loan Categories by Delinquency Status (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 943,734 | $ 895,394 | $ 852,300 |
Nonaccrual loans | 5,993 | 7,212 | |
Total Commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 549,919 | 513,120 | |
Nonaccrual loans | 1,719 | 2,376 | |
Total Commercial [Member] | Current-29 days past due and still accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 543,982 | 508,685 | |
Total Commercial [Member] | 30-89 days past due and still accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 3,639 | 1,824 | |
Total Commercial [Member] | 90 days or more past due and still accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 579 | 235 | |
Commercial and industrial loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 380,235 | 350,436 | |
Nonaccrual loans | 722 | 980 | |
Commercial and industrial loans [Member] | Current-29 days past due and still accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 376,176 | 348,033 | |
Commercial and industrial loans [Member] | 30-89 days past due and still accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 2,842 | 1,217 | |
Commercial and industrial loans [Member] | 90 days or more past due and still accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 495 | 206 | |
Real estate mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 133,411 | 127,733 | |
Nonaccrual loans | 898 | 1,235 | |
Real estate mortgage [Member] | Current-29 days past due and still accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 132,008 | 126,184 | |
Real estate mortgage [Member] | 30-89 days past due and still accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 421 | 285 | |
Real estate mortgage [Member] | 90 days or more past due and still accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 84 | 29 | |
Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 21,743 | 20,092 | |
Nonaccrual loans | 3 | 13 | |
Real estate construction [Member] | Current-29 days past due and still accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 21,510 | 19,900 | |
Real estate construction [Member] | 30-89 days past due and still accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 230 | 179 | |
Real estate construction [Member] | 90 days or more past due and still accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 0 | 0 | |
Lease financing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 14,530 | 14,859 | |
Nonaccrual loans | 96 | 148 | |
Lease financing [Member] | Current-29 days past due and still accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 14,288 | 14,568 | |
Lease financing [Member] | 30-89 days past due and still accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 146 | 143 | |
Lease financing [Member] | 90 days or more past due and still accruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 0 | $ 0 |
Loans and Related Allowance _10
Loans and Related Allowance for Credit Losses, Consumer Loan Categories by Delinquency Status and Vintage (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 943,734 | $ 895,394 | $ 852,300 |
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||
Loans, 90 days or more past due and still accruing | 3,653 | 5,358 | |
Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||
Loans, 90 days or more past due and still accruing | 991 | 659 | |
Government insured or guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||
Loans, 90 days or more past due and still accruing | 2,662 | 4,699 | |
Total Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 50,313 | 101,969 | |
Term loans by origination year, fiscal year before current fiscal year | 93,127 | 55,214 | |
Term loans by origination year, two years before current fiscal year | 49,062 | 34,661 | |
Term loans by origination year, three years before current fiscal year | 28,926 | 11,714 | |
Term loans by origination year, four years before current fiscal year | 9,241 | 15,842 | |
Term loans by origination year, more than five years before current fiscal year | 77,073 | 77,309 | |
Revolving loans | 78,631 | 78,564 | |
Revolving loans converted to term loans | 7,442 | 7,001 | |
Loans | 393,815 | 382,274 | |
Total Consumer [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||
Loans, 90 days or more past due and still accruing | 412 | 424 | |
Total Consumer [Member] | 90 days or more past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 1,600 | 2,700 | |
Residential mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 36,453 | 70,176 | |
Term loans by origination year, fiscal year before current fiscal year | 67,451 | 41,794 | |
Term loans by origination year, two years before current fiscal year | 38,692 | 25,234 | |
Term loans by origination year, three years before current fiscal year | 22,015 | 8,122 | |
Term loans by origination year, four years before current fiscal year | 6,816 | 14,245 | |
Term loans by origination year, more than five years before current fiscal year | 75,848 | 76,380 | |
Revolving loans | 13,207 | 16,305 | |
Revolving loans converted to term loans | 7,063 | 6,632 | |
Loans | 267,545 | 258,888 | |
Residential mortgage - first lien [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 36,441 | 70,148 | |
Term loans by origination year, fiscal year before current fiscal year | 67,420 | 41,774 | |
Term loans by origination year, two years before current fiscal year | 38,674 | 25,203 | |
Term loans by origination year, three years before current fiscal year | 21,990 | 8,095 | |
Term loans by origination year, four years before current fiscal year | 6,794 | 14,223 | |
Term loans by origination year, more than five years before current fiscal year | 75,214 | 75,618 | |
Revolving loans | 4,281 | 5,313 | |
Revolving loans converted to term loans | 2,127 | 1,896 | |
Loans | 252,941 | 242,270 | |
Residential mortgage - first lien [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||
Loans, 90 days or more past due and still accruing | 17 | 37 | |
Residential mortgage - first lien [Member] | Government insured or guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 1 | 14 | |
Term loans by origination year, fiscal year before current fiscal year | 41 | 134 | |
Term loans by origination year, two years before current fiscal year | 128 | 209 | |
Term loans by origination year, three years before current fiscal year | 146 | 349 | |
Term loans by origination year, four years before current fiscal year | 220 | 364 | |
Term loans by origination year, more than five years before current fiscal year | 8,142 | 12,088 | |
Revolving loans | 0 | 0 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | 8,678 | 13,158 | |
Residential mortgage - first lien [Member] | Current-29 days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 36,321 | 69,994 | |
Term loans by origination year, fiscal year before current fiscal year | 67,320 | 41,527 | |
Term loans by origination year, two years before current fiscal year | 38,481 | 24,887 | |
Term loans by origination year, three years before current fiscal year | 21,788 | 7,660 | |
Term loans by origination year, four years before current fiscal year | 6,533 | 13,734 | |
Term loans by origination year, more than five years before current fiscal year | 65,767 | 61,576 | |
Revolving loans | 4,231 | 5,248 | |
Revolving loans converted to term loans | 1,919 | 1,673 | |
Loans | 242,360 | 226,299 | |
Residential mortgage - first lien [Member] | 30-59 days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 116 | 129 | |
Term loans by origination year, fiscal year before current fiscal year | 42 | 27 | |
Term loans by origination year, two years before current fiscal year | 27 | 30 | |
Term loans by origination year, three years before current fiscal year | 25 | 12 | |
Term loans by origination year, four years before current fiscal year | 8 | 24 | |
Term loans by origination year, more than five years before current fiscal year | 459 | 418 | |
Revolving loans | 14 | 14 | |
Revolving loans converted to term loans | 34 | 29 | |
Loans | 725 | 683 | |
Residential mortgage - first lien [Member] | 60 to 89 days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 1 | 10 | |
Term loans by origination year, fiscal year before current fiscal year | 6 | 7 | |
Term loans by origination year, two years before current fiscal year | 6 | 2 | |
Term loans by origination year, three years before current fiscal year | 7 | 0 | |
Term loans by origination year, four years before current fiscal year | 2 | 3 | |
Term loans by origination year, more than five years before current fiscal year | 140 | 126 | |
Revolving loans | 5 | 7 | |
Revolving loans converted to term loans | 16 | 15 | |
Loans | 183 | 170 | |
Residential mortgage - first lien [Member] | 90-119 days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 2 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 1 | 1 | |
Term loans by origination year, two years before current fiscal year | 3 | 1 | |
Term loans by origination year, three years before current fiscal year | 2 | 1 | |
Term loans by origination year, four years before current fiscal year | 1 | 5 | |
Term loans by origination year, more than five years before current fiscal year | 51 | 53 | |
Revolving loans | 3 | 4 | |
Revolving loans converted to term loans | 8 | 9 | |
Loans | 71 | 74 | |
Residential mortgage - first lien [Member] | 120-179 days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 1 | |
Term loans by origination year, fiscal year before current fiscal year | 7 | 16 | |
Term loans by origination year, two years before current fiscal year | 4 | 2 | |
Term loans by origination year, three years before current fiscal year | 1 | 2 | |
Term loans by origination year, four years before current fiscal year | 4 | 1 | |
Term loans by origination year, more than five years before current fiscal year | 79 | 63 | |
Revolving loans | 3 | 4 | |
Revolving loans converted to term loans | 16 | 14 | |
Loans | 114 | 103 | |
Residential mortgage - first lien [Member] | 180 plus days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 3 | 62 | |
Term loans by origination year, two years before current fiscal year | 25 | 72 | |
Term loans by origination year, three years before current fiscal year | 21 | 71 | |
Term loans by origination year, four years before current fiscal year | 26 | 92 | |
Term loans by origination year, more than five years before current fiscal year | 576 | 1,294 | |
Revolving loans | 25 | 36 | |
Revolving loans converted to term loans | 134 | 156 | |
Loans | 810 | 1,783 | |
Residential mortgage - first lien [Member] | 90 days or more past due [Member] | Government insured or guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 3,000 | 5,700 | |
Residential mortgage - junior lien [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 12 | 28 | |
Term loans by origination year, fiscal year before current fiscal year | 31 | 20 | |
Term loans by origination year, two years before current fiscal year | 18 | 31 | |
Term loans by origination year, three years before current fiscal year | 25 | 27 | |
Term loans by origination year, four years before current fiscal year | 22 | 22 | |
Term loans by origination year, more than five years before current fiscal year | 634 | 762 | |
Revolving loans | 8,926 | 10,992 | |
Revolving loans converted to term loans | 4,936 | 4,736 | |
Loans | 14,604 | 16,618 | |
Residential mortgage - junior lien [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||
Loans, 90 days or more past due and still accruing | 5 | 12 | |
Residential mortgage - junior lien [Member] | Current-29 days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 12 | 28 | |
Term loans by origination year, fiscal year before current fiscal year | 31 | 20 | |
Term loans by origination year, two years before current fiscal year | 18 | 30 | |
Term loans by origination year, three years before current fiscal year | 25 | 26 | |
Term loans by origination year, four years before current fiscal year | 22 | 21 | |
Term loans by origination year, more than five years before current fiscal year | 591 | 700 | |
Revolving loans | 8,856 | 10,883 | |
Revolving loans converted to term loans | 4,706 | 4,426 | |
Loans | 14,261 | 16,134 | |
Residential mortgage - junior lien [Member] | 30-59 days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 1 | |
Term loans by origination year, more than five years before current fiscal year | 9 | 10 | |
Revolving loans | 19 | 29 | |
Revolving loans converted to term loans | 50 | 46 | |
Loans | 78 | 86 | |
Residential mortgage - junior lien [Member] | 60 to 89 days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 4 | 4 | |
Revolving loans | 8 | 10 | |
Revolving loans converted to term loans | 22 | 21 | |
Loans | 34 | 35 | |
Residential mortgage - junior lien [Member] | 90-119 days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 1 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 3 | 3 | |
Revolving loans | 3 | 4 | |
Revolving loans converted to term loans | 11 | 12 | |
Loans | 17 | 20 | |
Residential mortgage - junior lien [Member] | 120-179 days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 4 | 5 | |
Revolving loans | 5 | 7 | |
Revolving loans converted to term loans | 16 | 14 | |
Loans | 25 | 26 | |
Residential mortgage - junior lien [Member] | 180 plus days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 1 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 23 | 40 | |
Revolving loans | 35 | 59 | |
Revolving loans converted to term loans | 131 | 217 | |
Loans | 189 | 317 | |
Credit card [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 0 | 0 | |
Revolving loans | 40,994 | 38,243 | |
Revolving loans converted to term loans | 228 | 210 | |
Loans | 41,222 | 38,453 | |
Credit card [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||
Loans, 90 days or more past due and still accruing | 294 | 269 | |
Credit card [Member] | Current-29 days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 0 | 0 | |
Revolving loans | 40,397 | 37,686 | |
Revolving loans converted to term loans | 201 | 192 | |
Loans | 40,598 | 37,878 | |
Credit card [Member] | 30-59 days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 0 | 0 | |
Revolving loans | 186 | 176 | |
Revolving loans converted to term loans | 10 | 7 | |
Loans | 196 | 183 | |
Credit card [Member] | 60 to 89 days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 0 | 0 | |
Revolving loans | 126 | 118 | |
Revolving loans converted to term loans | 8 | 5 | |
Loans | 134 | 123 | |
Credit card [Member] | 90-119 days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 0 | 0 | |
Revolving loans | 97 | 98 | |
Revolving loans converted to term loans | 6 | 5 | |
Loans | 103 | 103 | |
Credit card [Member] | 120-179 days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 0 | 0 | |
Revolving loans | 188 | 165 | |
Revolving loans converted to term loans | 3 | 1 | |
Loans | 191 | 166 | |
Credit card [Member] | 180 plus days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 0 | 0 | |
Revolving loans | 0 | 0 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | 0 | 0 | |
Auto [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 11,838 | 29,566 | |
Term loans by origination year, fiscal year before current fiscal year | 24,058 | 12,700 | |
Term loans by origination year, two years before current fiscal year | 9,883 | 8,717 | |
Term loans by origination year, three years before current fiscal year | 6,467 | 3,386 | |
Term loans by origination year, four years before current fiscal year | 2,307 | 1,490 | |
Term loans by origination year, more than five years before current fiscal year | 1,105 | 800 | |
Revolving loans | 0 | 0 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | 55,658 | 56,659 | |
Auto [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||
Loans, 90 days or more past due and still accruing | 79 | 88 | |
Auto [Member] | Current-29 days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 11,764 | 29,246 | |
Term loans by origination year, fiscal year before current fiscal year | 23,554 | 12,412 | |
Term loans by origination year, two years before current fiscal year | 9,625 | 8,476 | |
Term loans by origination year, three years before current fiscal year | 6,283 | 3,271 | |
Term loans by origination year, four years before current fiscal year | 2,225 | 1,424 | |
Term loans by origination year, more than five years before current fiscal year | 1,024 | 714 | |
Revolving loans | 0 | 0 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | 54,475 | 55,543 | |
Auto [Member] | 30-59 days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 54 | 220 | |
Term loans by origination year, fiscal year before current fiscal year | 340 | 193 | |
Term loans by origination year, two years before current fiscal year | 182 | 165 | |
Term loans by origination year, three years before current fiscal year | 130 | 81 | |
Term loans by origination year, four years before current fiscal year | 59 | 46 | |
Term loans by origination year, more than five years before current fiscal year | 56 | 57 | |
Revolving loans | 0 | 0 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | 821 | 762 | |
Auto [Member] | 60 to 89 days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 15 | 69 | |
Term loans by origination year, fiscal year before current fiscal year | 118 | 67 | |
Term loans by origination year, two years before current fiscal year | 56 | 53 | |
Term loans by origination year, three years before current fiscal year | 42 | 25 | |
Term loans by origination year, four years before current fiscal year | 18 | 14 | |
Term loans by origination year, more than five years before current fiscal year | 19 | 21 | |
Revolving loans | 0 | 0 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | 268 | 249 | |
Auto [Member] | 90-119 days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 5 | 31 | |
Term loans by origination year, fiscal year before current fiscal year | 45 | 27 | |
Term loans by origination year, two years before current fiscal year | 20 | 22 | |
Term loans by origination year, three years before current fiscal year | 12 | 9 | |
Term loans by origination year, four years before current fiscal year | 5 | 6 | |
Term loans by origination year, more than five years before current fiscal year | 6 | 8 | |
Revolving loans | 0 | 0 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | 93 | 103 | |
Auto [Member] | 120-179 days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 1 | 1 | |
Term loans by origination year, two years before current fiscal year | 0 | 1 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 0 | 0 | |
Revolving loans | 0 | 0 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | 1 | 2 | |
Auto [Member] | 180 plus days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 0 | 0 | |
Revolving loans | 0 | 0 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | 0 | 0 | |
Other consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 2,022 | 2,227 | |
Term loans by origination year, fiscal year before current fiscal year | 1,618 | 720 | |
Term loans by origination year, two years before current fiscal year | 487 | 710 | |
Term loans by origination year, three years before current fiscal year | 444 | 206 | |
Term loans by origination year, four years before current fiscal year | 118 | 107 | |
Term loans by origination year, more than five years before current fiscal year | 120 | 129 | |
Revolving loans | 24,430 | 24,016 | |
Revolving loans converted to term loans | 151 | 159 | |
Loans | 29,390 | 28,274 | |
Other consumer [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||
Loans, 90 days or more past due and still accruing | 17 | 18 | |
Other consumer [Member] | Current-29 days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 2,019 | 2,221 | |
Term loans by origination year, fiscal year before current fiscal year | 1,606 | 716 | |
Term loans by origination year, two years before current fiscal year | 484 | 703 | |
Term loans by origination year, three years before current fiscal year | 439 | 203 | |
Term loans by origination year, four years before current fiscal year | 116 | 107 | |
Term loans by origination year, more than five years before current fiscal year | 116 | 125 | |
Revolving loans | 24,407 | 23,988 | |
Revolving loans converted to term loans | 131 | 143 | |
Loans | 29,318 | 28,206 | |
Other consumer [Member] | 30-59 days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 2 | 3 | |
Term loans by origination year, fiscal year before current fiscal year | 6 | 2 | |
Term loans by origination year, two years before current fiscal year | 1 | 3 | |
Term loans by origination year, three years before current fiscal year | 2 | 1 | |
Term loans by origination year, four years before current fiscal year | 1 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 2 | 2 | |
Revolving loans | 7 | 10 | |
Revolving loans converted to term loans | 6 | 4 | |
Loans | 27 | 25 | |
Other consumer [Member] | 60 to 89 days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 1 | 2 | |
Term loans by origination year, fiscal year before current fiscal year | 3 | 1 | |
Term loans by origination year, two years before current fiscal year | 1 | 2 | |
Term loans by origination year, three years before current fiscal year | 1 | 1 | |
Term loans by origination year, four years before current fiscal year | 1 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 1 | 1 | |
Revolving loans | 5 | 5 | |
Revolving loans converted to term loans | 4 | 1 | |
Loans | 17 | 13 | |
Other consumer [Member] | 90-119 days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 1 | |
Term loans by origination year, fiscal year before current fiscal year | 3 | 1 | |
Term loans by origination year, two years before current fiscal year | 1 | 2 | |
Term loans by origination year, three years before current fiscal year | 1 | 1 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 0 | 0 | |
Revolving loans | 4 | 4 | |
Revolving loans converted to term loans | 2 | 0 | |
Loans | 11 | 9 | |
Other consumer [Member] | 120-179 days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 1 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 0 | 0 | |
Revolving loans | 6 | 8 | |
Revolving loans converted to term loans | 1 | 2 | |
Loans | 8 | 10 | |
Other consumer [Member] | 180 plus days past due [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 1 | 1 | |
Revolving loans | 1 | 1 | |
Revolving loans converted to term loans | 7 | 9 | |
Loans | $ 9 | $ 11 |
Loans and Related Allowance _11
Loans and Related Allowance for Credit Losses, Consumer Loan Categories by FICO and Vintage (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 943,734 | $ 895,394 | $ 852,300 |
Total Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 50,313 | 101,969 | |
Term loans by origination year, fiscal year before current fiscal year | 93,127 | 55,214 | |
Term loans by origination year, two years before current fiscal year | 49,062 | 34,661 | |
Term loans by origination year, three years before current fiscal year | 28,926 | 11,714 | |
Term loans by origination year, four years before current fiscal year | 9,241 | 15,842 | |
Term loans by origination year, more than five years before current fiscal year | 77,073 | 77,309 | |
Revolving loans | 78,631 | 78,564 | |
Revolving loans converted to term loans | 7,442 | 7,001 | |
Loans | 393,815 | 382,274 | |
Residential mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 36,453 | 70,176 | |
Term loans by origination year, fiscal year before current fiscal year | 67,451 | 41,794 | |
Term loans by origination year, two years before current fiscal year | 38,692 | 25,234 | |
Term loans by origination year, three years before current fiscal year | 22,015 | 8,122 | |
Term loans by origination year, four years before current fiscal year | 6,816 | 14,245 | |
Term loans by origination year, more than five years before current fiscal year | 75,848 | 76,380 | |
Revolving loans | 13,207 | 16,305 | |
Revolving loans converted to term loans | 7,063 | 6,632 | |
Loans | 267,545 | 258,888 | |
Residential mortgage - first lien [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 36,441 | 70,148 | |
Term loans by origination year, fiscal year before current fiscal year | 67,420 | 41,774 | |
Term loans by origination year, two years before current fiscal year | 38,674 | 25,203 | |
Term loans by origination year, three years before current fiscal year | 21,990 | 8,095 | |
Term loans by origination year, four years before current fiscal year | 6,794 | 14,223 | |
Term loans by origination year, more than five years before current fiscal year | 75,214 | 75,618 | |
Revolving loans | 4,281 | 5,313 | |
Revolving loans converted to term loans | 2,127 | 1,896 | |
Loans | 252,941 | 242,270 | |
Residential mortgage - first lien [Member] | Government insured or guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 1 | 14 | |
Term loans by origination year, fiscal year before current fiscal year | 41 | 134 | |
Term loans by origination year, two years before current fiscal year | 128 | 209 | |
Term loans by origination year, three years before current fiscal year | 146 | 349 | |
Term loans by origination year, four years before current fiscal year | 220 | 364 | |
Term loans by origination year, more than five years before current fiscal year | 8,142 | 12,088 | |
Revolving loans | 0 | 0 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | 8,678 | 13,158 | |
Residential mortgage - first lien [Member] | FICO 800 or more [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 16,288 | 35,935 | |
Term loans by origination year, fiscal year before current fiscal year | 41,130 | 27,396 | |
Term loans by origination year, two years before current fiscal year | 26,393 | 16,583 | |
Term loans by origination year, three years before current fiscal year | 14,748 | 5,153 | |
Term loans by origination year, four years before current fiscal year | 4,378 | 9,430 | |
Term loans by origination year, more than five years before current fiscal year | 40,390 | 37,495 | |
Revolving loans | 2,092 | 2,554 | |
Revolving loans converted to term loans | 591 | 469 | |
Loans | 146,010 | 135,015 | |
Residential mortgage - first lien [Member] | FICO 760-799 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 13,513 | 23,645 | |
Term loans by origination year, fiscal year before current fiscal year | 17,649 | 9,814 | |
Term loans by origination year, two years before current fiscal year | 8,218 | 5,412 | |
Term loans by origination year, three years before current fiscal year | 4,503 | 1,464 | |
Term loans by origination year, four years before current fiscal year | 1,211 | 2,485 | |
Term loans by origination year, more than five years before current fiscal year | 11,332 | 10,509 | |
Revolving loans | 864 | 1,073 | |
Revolving loans converted to term loans | 319 | 265 | |
Loans | 57,609 | 54,667 | |
Residential mortgage - first lien [Member] | FICO 720-759 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 4,643 | 7,842 | |
Term loans by origination year, fiscal year before current fiscal year | 6,057 | 3,083 | |
Term loans by origination year, two years before current fiscal year | 2,722 | 1,980 | |
Term loans by origination year, three years before current fiscal year | 1,726 | 642 | |
Term loans by origination year, four years before current fiscal year | 562 | 1,137 | |
Term loans by origination year, more than five years before current fiscal year | 6,408 | 6,277 | |
Revolving loans | 543 | 646 | |
Revolving loans converted to term loans | 268 | 238 | |
Loans | 22,929 | 21,845 | |
Residential mortgage - first lien [Member] | FICO 680-719 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 1,447 | 1,986 | |
Term loans by origination year, fiscal year before current fiscal year | 1,780 | 876 | |
Term loans by origination year, two years before current fiscal year | 796 | 645 | |
Term loans by origination year, three years before current fiscal year | 546 | 283 | |
Term loans by origination year, four years before current fiscal year | 247 | 501 | |
Term loans by origination year, more than five years before current fiscal year | 3,585 | 3,682 | |
Revolving loans | 316 | 393 | |
Revolving loans converted to term loans | 212 | 206 | |
Loans | 8,929 | 8,572 | |
Residential mortgage - first lien [Member] | FICO 640-679 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 394 | 449 | |
Term loans by origination year, fiscal year before current fiscal year | 455 | 233 | |
Term loans by origination year, two years before current fiscal year | 207 | 187 | |
Term loans by origination year, three years before current fiscal year | 178 | 89 | |
Term loans by origination year, four years before current fiscal year | 80 | 129 | |
Term loans by origination year, more than five years before current fiscal year | 1,743 | 1,851 | |
Revolving loans | 164 | 188 | |
Revolving loans converted to term loans | 148 | 146 | |
Loans | 3,369 | 3,272 | |
Residential mortgage - first lien [Member] | FICO 600-639 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 73 | 101 | |
Term loans by origination year, fiscal year before current fiscal year | 113 | 63 | |
Term loans by origination year, two years before current fiscal year | 55 | 46 | |
Term loans by origination year, three years before current fiscal year | 41 | 31 | |
Term loans by origination year, four years before current fiscal year | 28 | 41 | |
Term loans by origination year, more than five years before current fiscal year | 911 | 1,035 | |
Revolving loans | 71 | 102 | |
Revolving loans converted to term loans | 80 | 89 | |
Loans | 1,372 | 1,508 | |
Residential mortgage - first lien [Member] | FICO less than 600 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 16 | 15 | |
Term loans by origination year, fiscal year before current fiscal year | 25 | 13 | |
Term loans by origination year, two years before current fiscal year | 20 | 24 | |
Term loans by origination year, three years before current fiscal year | 17 | 19 | |
Term loans by origination year, four years before current fiscal year | 19 | 41 | |
Term loans by origination year, more than five years before current fiscal year | 937 | 1,083 | |
Revolving loans | 86 | 114 | |
Revolving loans converted to term loans | 126 | 124 | |
Loans | 1,246 | 1,433 | |
Residential mortgage - first lien [Member] | No FICO available [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 66 | 161 | |
Term loans by origination year, fiscal year before current fiscal year | 170 | 162 | |
Term loans by origination year, two years before current fiscal year | 135 | 117 | |
Term loans by origination year, three years before current fiscal year | 85 | 65 | |
Term loans by origination year, four years before current fiscal year | 49 | 95 | |
Term loans by origination year, more than five years before current fiscal year | 1,766 | 1,598 | |
Revolving loans | 145 | 243 | |
Revolving loans converted to term loans | 383 | 359 | |
Loans | 2,799 | 2,800 | |
Residential mortgage - junior lien [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 12 | 28 | |
Term loans by origination year, fiscal year before current fiscal year | 31 | 20 | |
Term loans by origination year, two years before current fiscal year | 18 | 31 | |
Term loans by origination year, three years before current fiscal year | 25 | 27 | |
Term loans by origination year, four years before current fiscal year | 22 | 22 | |
Term loans by origination year, more than five years before current fiscal year | 634 | 762 | |
Revolving loans | 8,926 | 10,992 | |
Revolving loans converted to term loans | 4,936 | 4,736 | |
Loans | 14,604 | 16,618 | |
Residential mortgage - junior lien [Member] | FICO 800 or more [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 152 | 188 | |
Revolving loans | 4,562 | 5,512 | |
Revolving loans converted to term loans | 1,646 | 1,481 | |
Loans | 6,360 | 7,181 | |
Residential mortgage - junior lien [Member] | FICO 760-799 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 94 | 110 | |
Revolving loans | 1,808 | 2,154 | |
Revolving loans converted to term loans | 839 | 828 | |
Loans | 2,741 | 3,092 | |
Residential mortgage - junior lien [Member] | FICO 720-759 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 109 | 130 | |
Revolving loans | 1,158 | 1,462 | |
Revolving loans converted to term loans | 784 | 790 | |
Loans | 2,051 | 2,382 | |
Residential mortgage - junior lien [Member] | FICO 680-719 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 90 | 118 | |
Revolving loans | 667 | 881 | |
Revolving loans converted to term loans | 628 | 633 | |
Loans | 1,385 | 1,632 | |
Residential mortgage - junior lien [Member] | FICO 640-679 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 49 | 65 | |
Revolving loans | 260 | 325 | |
Revolving loans converted to term loans | 330 | 338 | |
Loans | 639 | 728 | |
Residential mortgage - junior lien [Member] | FICO 600-639 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 30 | 39 | |
Revolving loans | 123 | 160 | |
Revolving loans converted to term loans | 186 | 208 | |
Loans | 339 | 407 | |
Residential mortgage - junior lien [Member] | FICO less than 600 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 36 | 43 | |
Revolving loans | 121 | 164 | |
Revolving loans converted to term loans | 208 | 215 | |
Loans | 365 | 422 | |
Residential mortgage - junior lien [Member] | No FICO available [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 12 | 28 | |
Term loans by origination year, fiscal year before current fiscal year | 31 | 20 | |
Term loans by origination year, two years before current fiscal year | 18 | 31 | |
Term loans by origination year, three years before current fiscal year | 25 | 27 | |
Term loans by origination year, four years before current fiscal year | 22 | 22 | |
Term loans by origination year, more than five years before current fiscal year | 74 | 69 | |
Revolving loans | 227 | 334 | |
Revolving loans converted to term loans | 315 | 243 | |
Loans | 724 | 774 | |
Credit card [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 0 | 0 | |
Revolving loans | 40,994 | 38,243 | |
Revolving loans converted to term loans | 228 | 210 | |
Loans | 41,222 | 38,453 | |
Credit card [Member] | FICO 800 or more [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 0 | 0 | |
Revolving loans | 4,726 | 4,247 | |
Revolving loans converted to term loans | 1 | 1 | |
Loans | 4,727 | 4,248 | |
Credit card [Member] | FICO 760-799 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 0 | 0 | |
Revolving loans | 6,527 | 6,053 | |
Revolving loans converted to term loans | 8 | 7 | |
Loans | 6,535 | 6,060 | |
Credit card [Member] | FICO 720-759 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 0 | 0 | |
Revolving loans | 8,940 | 8,475 | |
Revolving loans converted to term loans | 27 | 26 | |
Loans | 8,967 | 8,501 | |
Credit card [Member] | FICO 680-719 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 0 | 0 | |
Revolving loans | 9,635 | 9,136 | |
Revolving loans converted to term loans | 48 | 50 | |
Loans | 9,683 | 9,186 | |
Credit card [Member] | FICO 640-679 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 0 | 0 | |
Revolving loans | 6,279 | 5,850 | |
Revolving loans converted to term loans | 47 | 47 | |
Loans | 6,326 | 5,897 | |
Credit card [Member] | FICO 600-639 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 0 | 0 | |
Revolving loans | 2,472 | 2,298 | |
Revolving loans converted to term loans | 33 | 31 | |
Loans | 2,505 | 2,329 | |
Credit card [Member] | FICO less than 600 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 0 | 0 | |
Revolving loans | 2,216 | 2,067 | |
Revolving loans converted to term loans | 63 | 47 | |
Loans | 2,279 | 2,114 | |
Credit card [Member] | No FICO available [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 0 | 0 | |
Revolving loans | 199 | 117 | |
Revolving loans converted to term loans | 1 | 1 | |
Loans | 200 | 118 | |
Auto [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 11,838 | 29,566 | |
Term loans by origination year, fiscal year before current fiscal year | 24,058 | 12,700 | |
Term loans by origination year, two years before current fiscal year | 9,883 | 8,717 | |
Term loans by origination year, three years before current fiscal year | 6,467 | 3,386 | |
Term loans by origination year, four years before current fiscal year | 2,307 | 1,490 | |
Term loans by origination year, more than five years before current fiscal year | 1,105 | 800 | |
Revolving loans | 0 | 0 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | 55,658 | 56,659 | |
Auto [Member] | FICO 800 or more [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 2,083 | 4,688 | |
Term loans by origination year, fiscal year before current fiscal year | 3,824 | 1,983 | |
Term loans by origination year, two years before current fiscal year | 1,656 | 1,680 | |
Term loans by origination year, three years before current fiscal year | 1,290 | 690 | |
Term loans by origination year, four years before current fiscal year | 484 | 318 | |
Term loans by origination year, more than five years before current fiscal year | 203 | 108 | |
Revolving loans | 0 | 0 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | 9,540 | 9,467 | |
Auto [Member] | FICO 760-799 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 2,168 | 4,967 | |
Term loans by origination year, fiscal year before current fiscal year | 4,115 | 2,123 | |
Term loans by origination year, two years before current fiscal year | 1,652 | 1,586 | |
Term loans by origination year, three years before current fiscal year | 1,154 | 586 | |
Term loans by origination year, four years before current fiscal year | 393 | 234 | |
Term loans by origination year, more than five years before current fiscal year | 149 | 87 | |
Revolving loans | 0 | 0 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | 9,631 | 9,583 | |
Auto [Member] | FICO 720-759 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 2,054 | 4,789 | |
Term loans by origination year, fiscal year before current fiscal year | 3,833 | 2,104 | |
Term loans by origination year, two years before current fiscal year | 1,628 | 1,503 | |
Term loans by origination year, three years before current fiscal year | 1,103 | 583 | |
Term loans by origination year, four years before current fiscal year | 388 | 241 | |
Term loans by origination year, more than five years before current fiscal year | 162 | 106 | |
Revolving loans | 0 | 0 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | 9,168 | 9,326 | |
Auto [Member] | FICO 680-719 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 1,992 | 5,005 | |
Term loans by origination year, fiscal year before current fiscal year | 3,878 | 2,282 | |
Term loans by origination year, two years before current fiscal year | 1,702 | 1,441 | |
Term loans by origination year, three years before current fiscal year | 1,028 | 526 | |
Term loans by origination year, four years before current fiscal year | 347 | 218 | |
Term loans by origination year, more than five years before current fiscal year | 153 | 111 | |
Revolving loans | 0 | 0 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | 9,100 | 9,583 | |
Auto [Member] | FICO 640-679 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 1,732 | 4,611 | |
Term loans by origination year, fiscal year before current fiscal year | 3,456 | 1,824 | |
Term loans by origination year, two years before current fiscal year | 1,313 | 1,025 | |
Term loans by origination year, three years before current fiscal year | 720 | 369 | |
Term loans by origination year, four years before current fiscal year | 243 | 160 | |
Term loans by origination year, more than five years before current fiscal year | 124 | 99 | |
Revolving loans | 0 | 0 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | 7,588 | 8,088 | |
Auto [Member] | FICO 600-639 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 1,088 | 3,118 | |
Term loans by origination year, fiscal year before current fiscal year | 2,301 | 1,114 | |
Term loans by origination year, two years before current fiscal year | 802 | 617 | |
Term loans by origination year, three years before current fiscal year | 443 | 243 | |
Term loans by origination year, four years before current fiscal year | 163 | 117 | |
Term loans by origination year, more than five years before current fiscal year | 100 | 92 | |
Revolving loans | 0 | 0 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | 4,897 | 5,301 | |
Auto [Member] | FICO less than 600 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 721 | 2,372 | |
Term loans by origination year, fiscal year before current fiscal year | 2,606 | 1,236 | |
Term loans by origination year, two years before current fiscal year | 1,116 | 853 | |
Term loans by origination year, three years before current fiscal year | 709 | 376 | |
Term loans by origination year, four years before current fiscal year | 276 | 193 | |
Term loans by origination year, more than five years before current fiscal year | 203 | 187 | |
Revolving loans | 0 | 0 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | 5,631 | 5,217 | |
Auto [Member] | No FICO available [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 16 | |
Term loans by origination year, fiscal year before current fiscal year | 45 | 34 | |
Term loans by origination year, two years before current fiscal year | 14 | 12 | |
Term loans by origination year, three years before current fiscal year | 20 | 13 | |
Term loans by origination year, four years before current fiscal year | 13 | 9 | |
Term loans by origination year, more than five years before current fiscal year | 11 | 10 | |
Revolving loans | 0 | 0 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | 103 | 94 | |
Other consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 2,022 | 2,227 | |
Term loans by origination year, fiscal year before current fiscal year | 1,618 | 720 | |
Term loans by origination year, two years before current fiscal year | 487 | 710 | |
Term loans by origination year, three years before current fiscal year | 444 | 206 | |
Term loans by origination year, four years before current fiscal year | 118 | 107 | |
Term loans by origination year, more than five years before current fiscal year | 120 | 129 | |
Revolving loans | 24,430 | 24,016 | |
Revolving loans converted to term loans | 151 | 159 | |
Loans | 29,390 | 28,274 | |
Other consumer [Member] | FICO 800 or more [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 413 | 450 | |
Term loans by origination year, fiscal year before current fiscal year | 314 | 162 | |
Term loans by origination year, two years before current fiscal year | 110 | 128 | |
Term loans by origination year, three years before current fiscal year | 81 | 34 | |
Term loans by origination year, four years before current fiscal year | 19 | 8 | |
Term loans by origination year, more than five years before current fiscal year | 40 | 47 | |
Revolving loans | 1,070 | 1,343 | |
Revolving loans converted to term loans | 19 | 22 | |
Loans | 2,066 | 2,194 | |
Other consumer [Member] | FICO 760-799 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 460 | 502 | |
Term loans by origination year, fiscal year before current fiscal year | 332 | 147 | |
Term loans by origination year, two years before current fiscal year | 91 | 117 | |
Term loans by origination year, three years before current fiscal year | 69 | 33 | |
Term loans by origination year, four years before current fiscal year | 17 | 7 | |
Term loans by origination year, more than five years before current fiscal year | 18 | 22 | |
Revolving loans | 664 | 819 | |
Revolving loans converted to term loans | 17 | 19 | |
Loans | 1,668 | 1,666 | |
Other consumer [Member] | FICO 720-759 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 408 | 461 | |
Term loans by origination year, fiscal year before current fiscal year | 315 | 134 | |
Term loans by origination year, two years before current fiscal year | 104 | 115 | |
Term loans by origination year, three years before current fiscal year | 71 | 38 | |
Term loans by origination year, four years before current fiscal year | 21 | 9 | |
Term loans by origination year, more than five years before current fiscal year | 18 | 18 | |
Revolving loans | 594 | 714 | |
Revolving loans converted to term loans | 26 | 22 | |
Loans | 1,557 | 1,511 | |
Other consumer [Member] | FICO 680-719 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 314 | 349 | |
Term loans by origination year, fiscal year before current fiscal year | 268 | 95 | |
Term loans by origination year, two years before current fiscal year | 63 | 99 | |
Term loans by origination year, three years before current fiscal year | 62 | 37 | |
Term loans by origination year, four years before current fiscal year | 20 | 9 | |
Term loans by origination year, more than five years before current fiscal year | 15 | 15 | |
Revolving loans | 576 | 630 | |
Revolving loans converted to term loans | 18 | 22 | |
Loans | 1,336 | 1,256 | |
Other consumer [Member] | FICO 640-679 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 153 | 170 | |
Term loans by origination year, fiscal year before current fiscal year | 153 | 44 | |
Term loans by origination year, two years before current fiscal year | 32 | 55 | |
Term loans by origination year, three years before current fiscal year | 35 | 21 | |
Term loans by origination year, four years before current fiscal year | 12 | 6 | |
Term loans by origination year, more than five years before current fiscal year | 8 | 8 | |
Revolving loans | 298 | 328 | |
Revolving loans converted to term loans | 20 | 17 | |
Loans | 711 | 649 | |
Other consumer [Member] | FICO 600-639 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 38 | 42 | |
Term loans by origination year, fiscal year before current fiscal year | 47 | 13 | |
Term loans by origination year, two years before current fiscal year | 10 | 19 | |
Term loans by origination year, three years before current fiscal year | 13 | 9 | |
Term loans by origination year, four years before current fiscal year | 5 | 3 | |
Term loans by origination year, more than five years before current fiscal year | 4 | 4 | |
Revolving loans | 113 | 117 | |
Revolving loans converted to term loans | 10 | 9 | |
Loans | 240 | 216 | |
Other consumer [Member] | FICO less than 600 [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 13 | 18 | |
Term loans by origination year, fiscal year before current fiscal year | 36 | 12 | |
Term loans by origination year, two years before current fiscal year | 11 | 22 | |
Term loans by origination year, three years before current fiscal year | 16 | 11 | |
Term loans by origination year, four years before current fiscal year | 7 | 3 | |
Term loans by origination year, more than five years before current fiscal year | 6 | 5 | |
Revolving loans | 99 | 114 | |
Revolving loans converted to term loans | 12 | 12 | |
Loans | 200 | 197 | |
Other consumer [Member] | No FICO available [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 223 | 235 | |
Term loans by origination year, fiscal year before current fiscal year | 153 | 113 | |
Term loans by origination year, two years before current fiscal year | 66 | 155 | |
Term loans by origination year, three years before current fiscal year | 97 | 23 | |
Term loans by origination year, four years before current fiscal year | 17 | 62 | |
Term loans by origination year, more than five years before current fiscal year | 11 | 10 | |
Revolving loans | 1,074 | 1,236 | |
Revolving loans converted to term loans | 29 | 36 | |
Loans | 1,670 | 1,870 | |
Other consumer [Member] | FICO not required [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 0 | 0 | |
Revolving loans | 19,942 | 18,715 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | $ 19,942 | $ 18,715 |
Loans and Related Allowance _12
Loans and Related Allowance for Credit Losses, Consumer Loan Categories by LTV/CLTV and Vintage (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 943,734 | $ 895,394 | $ 852,300 |
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||
High value properties, threshold | 1 | ||
Total Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 50,313 | 101,969 | |
Term loans by origination year, fiscal year before current fiscal year | 93,127 | 55,214 | |
Term loans by origination year, two years before current fiscal year | 49,062 | 34,661 | |
Term loans by origination year, three years before current fiscal year | 28,926 | 11,714 | |
Term loans by origination year, four years before current fiscal year | 9,241 | 15,842 | |
Term loans by origination year, more than five years before current fiscal year | 77,073 | 77,309 | |
Revolving loans | 78,631 | 78,564 | |
Revolving loans converted to term loans | 7,442 | 7,001 | |
Loans | 393,815 | 382,274 | |
Residential mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 36,453 | 70,176 | |
Term loans by origination year, fiscal year before current fiscal year | 67,451 | 41,794 | |
Term loans by origination year, two years before current fiscal year | 38,692 | 25,234 | |
Term loans by origination year, three years before current fiscal year | 22,015 | 8,122 | |
Term loans by origination year, four years before current fiscal year | 6,816 | 14,245 | |
Term loans by origination year, more than five years before current fiscal year | 75,848 | 76,380 | |
Revolving loans | 13,207 | 16,305 | |
Revolving loans converted to term loans | 7,063 | 6,632 | |
Loans | 267,545 | 258,888 | |
Residential mortgage - first lien [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 36,441 | 70,148 | |
Term loans by origination year, fiscal year before current fiscal year | 67,420 | 41,774 | |
Term loans by origination year, two years before current fiscal year | 38,674 | 25,203 | |
Term loans by origination year, three years before current fiscal year | 21,990 | 8,095 | |
Term loans by origination year, four years before current fiscal year | 6,794 | 14,223 | |
Term loans by origination year, more than five years before current fiscal year | 75,214 | 75,618 | |
Revolving loans | 4,281 | 5,313 | |
Revolving loans converted to term loans | 2,127 | 1,896 | |
Loans | 252,941 | 242,270 | |
Residential mortgage - first lien [Member] | Government insured or guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 1 | 14 | |
Term loans by origination year, fiscal year before current fiscal year | 41 | 134 | |
Term loans by origination year, two years before current fiscal year | 128 | 209 | |
Term loans by origination year, three years before current fiscal year | 146 | 349 | |
Term loans by origination year, four years before current fiscal year | 220 | 364 | |
Term loans by origination year, more than five years before current fiscal year | 8,142 | 12,088 | |
Revolving loans | 0 | 0 | |
Revolving loans converted to term loans | 0 | 0 | |
Loans | 8,678 | 13,158 | |
Residential mortgage - first lien [Member] | LTV 0-60% [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 11,784 | 26,618 | |
Term loans by origination year, fiscal year before current fiscal year | 34,740 | 22,882 | |
Term loans by origination year, two years before current fiscal year | 29,463 | 16,063 | |
Term loans by origination year, three years before current fiscal year | 17,236 | 5,310 | |
Term loans by origination year, four years before current fiscal year | 5,325 | 11,030 | |
Term loans by origination year, more than five years before current fiscal year | 62,930 | 57,880 | |
Revolving loans | 3,859 | 4,348 | |
Revolving loans converted to term loans | 1,959 | 1,644 | |
Loans | 167,296 | 145,775 | |
Residential mortgage - first lien [Member] | LTV 60.01-80% [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 23,853 | 42,893 | |
Term loans by origination year, fiscal year before current fiscal year | 31,942 | 18,188 | |
Term loans by origination year, two years before current fiscal year | 8,858 | 8,356 | |
Term loans by origination year, three years before current fiscal year | 4,411 | 2,234 | |
Term loans by origination year, four years before current fiscal year | 1,165 | 2,647 | |
Term loans by origination year, more than five years before current fiscal year | 3,773 | 5,017 | |
Revolving loans | 322 | 674 | |
Revolving loans converted to term loans | 129 | 188 | |
Loans | 74,453 | 80,197 | |
Residential mortgage - first lien [Member] | LTV 80.01-100% [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 765 | 486 | |
Term loans by origination year, fiscal year before current fiscal year | 555 | 437 | |
Term loans by origination year, two years before current fiscal year | 124 | 474 | |
Term loans by origination year, three years before current fiscal year | 127 | 147 | |
Term loans by origination year, four years before current fiscal year | 51 | 134 | |
Term loans by origination year, more than five years before current fiscal year | 125 | 339 | |
Revolving loans | 50 | 157 | |
Revolving loans converted to term loans | 24 | 42 | |
Loans | 1,821 | 2,216 | |
Residential mortgage - first lien [Member] | LTV 100.01-120% [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 10 | |
Term loans by origination year, fiscal year before current fiscal year | 16 | 31 | |
Term loans by origination year, two years before current fiscal year | 13 | 24 | |
Term loans by origination year, three years before current fiscal year | 5 | 11 | |
Term loans by origination year, four years before current fiscal year | 2 | 7 | |
Term loans by origination year, more than five years before current fiscal year | 18 | 48 | |
Revolving loans | 7 | 33 | |
Revolving loans converted to term loans | 2 | 8 | |
Loans | 63 | 172 | |
Residential mortgage - first lien [Member] | LTV greater than 120% [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 5 | |
Term loans by origination year, fiscal year before current fiscal year | 10 | 10 | |
Term loans by origination year, two years before current fiscal year | 4 | 10 | |
Term loans by origination year, three years before current fiscal year | 6 | 4 | |
Term loans by origination year, four years before current fiscal year | 0 | 3 | |
Term loans by origination year, more than five years before current fiscal year | 16 | 35 | |
Revolving loans | 6 | 14 | |
Revolving loans converted to term loans | 2 | 3 | |
Loans | 44 | 84 | |
Residential mortgage - first lien [Member] | No LTV/CLTV available [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 38 | 122 | |
Term loans by origination year, fiscal year before current fiscal year | 116 | 92 | |
Term loans by origination year, two years before current fiscal year | 84 | 67 | |
Term loans by origination year, three years before current fiscal year | 59 | 40 | |
Term loans by origination year, four years before current fiscal year | 31 | 38 | |
Term loans by origination year, more than five years before current fiscal year | 210 | 211 | |
Revolving loans | 37 | 87 | |
Revolving loans converted to term loans | 11 | 11 | |
Loans | 586 | 668 | |
Residential mortgage - junior lien [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 12 | 28 | |
Term loans by origination year, fiscal year before current fiscal year | 31 | 20 | |
Term loans by origination year, two years before current fiscal year | 18 | 31 | |
Term loans by origination year, three years before current fiscal year | 25 | 27 | |
Term loans by origination year, four years before current fiscal year | 22 | 22 | |
Term loans by origination year, more than five years before current fiscal year | 634 | 762 | |
Revolving loans | 8,926 | 10,992 | |
Revolving loans converted to term loans | 4,936 | 4,736 | |
Loans | 14,604 | 16,618 | |
Residential mortgage - junior lien [Member] | LTV 0-60% [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 458 | 475 | |
Revolving loans | 7,514 | 7,949 | |
Revolving loans converted to term loans | 4,122 | 3,588 | |
Loans | 12,094 | 12,012 | |
Residential mortgage - junior lien [Member] | LTV 60.01-80% [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 98 | 172 | |
Revolving loans | 1,173 | 2,329 | |
Revolving loans converted to term loans | 649 | 823 | |
Loans | 1,920 | 3,324 | |
Residential mortgage - junior lien [Member] | LTV 80.01-100% [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 23 | 55 | |
Revolving loans | 187 | 554 | |
Revolving loans converted to term loans | 116 | 241 | |
Loans | 326 | 850 | |
Residential mortgage - junior lien [Member] | LTV 100.01-120% [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 4 | 13 | |
Revolving loans | 26 | 104 | |
Revolving loans converted to term loans | 16 | 42 | |
Loans | 46 | 159 | |
Residential mortgage - junior lien [Member] | LTV greater than 120% [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 0 | 0 | |
Term loans by origination year, fiscal year before current fiscal year | 0 | 0 | |
Term loans by origination year, two years before current fiscal year | 0 | 0 | |
Term loans by origination year, three years before current fiscal year | 0 | 0 | |
Term loans by origination year, four years before current fiscal year | 0 | 0 | |
Term loans by origination year, more than five years before current fiscal year | 1 | 3 | |
Revolving loans | 9 | 35 | |
Revolving loans converted to term loans | 7 | 13 | |
Loans | 17 | 51 | |
Residential mortgage - junior lien [Member] | No LTV/CLTV available [Member] | Non-government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Term loans by origination year, current fiscal year | 12 | 28 | |
Term loans by origination year, fiscal year before current fiscal year | 31 | 20 | |
Term loans by origination year, two years before current fiscal year | 18 | 31 | |
Term loans by origination year, three years before current fiscal year | 25 | 27 | |
Term loans by origination year, four years before current fiscal year | 22 | 22 | |
Term loans by origination year, more than five years before current fiscal year | 50 | 44 | |
Revolving loans | 17 | 21 | |
Revolving loans converted to term loans | 26 | 29 | |
Loans | $ 201 | $ 222 |
Loans and Related Allowance _13
Loans and Related Allowance for Credit Losses, Nonaccrual Loans (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | $ 5,993 | $ 7,212 | |
Nonaccrual loans without related allowance for credit losses | 3,141 | 3,489 | |
Recognized interest income | 196 | $ 178 | |
Total Commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 1,719 | 2,376 | |
Nonaccrual loans without related allowance for credit losses | 252 | 270 | |
Recognized interest income | 69 | 79 | |
Commercial and industrial loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 722 | 980 | |
Nonaccrual loans without related allowance for credit losses | 212 | 190 | |
Recognized interest income | 41 | 45 | |
Real estate mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 898 | 1,235 | |
Nonaccrual loans without related allowance for credit losses | 39 | 66 | |
Recognized interest income | 28 | 33 | |
Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 3 | 13 | |
Nonaccrual loans without related allowance for credit losses | 1 | 5 | |
Recognized interest income | 0 | 1 | |
Lease financing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 96 | 148 | |
Nonaccrual loans without related allowance for credit losses | 0 | 9 | |
Recognized interest income | 0 | 0 | |
Total Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 4,274 | 4,836 | |
Nonaccrual loans without related allowance for credit losses | 2,889 | 3,219 | |
Recognized interest income | 127 | 99 | |
Residential mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||
Mortgage loans in process of foreclosure, amount | 946 | 694 | |
Residential mortgage - first lien [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 3,322 | 3,803 | |
Nonaccrual loans without related allowance for credit losses | 2,380 | 2,722 | |
Recognized interest income | 83 | 56 | |
Residential mortgage - junior lien [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 729 | 801 | |
Nonaccrual loans without related allowance for credit losses | 509 | 497 | |
Recognized interest income | 28 | 25 | |
Auto [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 188 | 198 | |
Nonaccrual loans without related allowance for credit losses | 0 | 0 | |
Recognized interest income | 14 | 17 | |
Other consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 35 | 34 | |
Nonaccrual loans without related allowance for credit losses | 0 | 0 | |
Recognized interest income | 2 | $ 1 | |
Government guaranteed mortgage loans upon foreclosure receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||
Mortgage loans in process of foreclosure, amount | $ 781 | $ 583 |
Loans and Related Allowance _14
Loans and Related Allowance for Credit Losses, 90 Days or More Past Due and Still Accruing (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, 90 days or more past due and still accruing | $ 3,653 | $ 5,358 |
Non-government insured/guaranteed [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, 90 days or more past due and still accruing | 991 | 659 |
Government insured or guaranteed [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, 90 days or more past due and still accruing | 2,662 | 4,699 |
Total Commercial [Member] | Non-government insured/guaranteed [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, 90 days or more past due and still accruing | 579 | 235 |
Commercial and industrial loans [Member] | Non-government insured/guaranteed [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, 90 days or more past due and still accruing | 495 | 206 |
Real estate mortgage [Member] | Non-government insured/guaranteed [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, 90 days or more past due and still accruing | 84 | 29 |
Real estate construction [Member] | Non-government insured/guaranteed [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, 90 days or more past due and still accruing | 0 | 0 |
Total Consumer [Member] | Non-government insured/guaranteed [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, 90 days or more past due and still accruing | 412 | 424 |
Residential mortgage - first lien [Member] | Non-government insured/guaranteed [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, 90 days or more past due and still accruing | 17 | 37 |
Residential mortgage - junior lien [Member] | Non-government insured/guaranteed [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, 90 days or more past due and still accruing | 5 | 12 |
Credit card [Member] | Non-government insured/guaranteed [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, 90 days or more past due and still accruing | 294 | 269 |
Auto [Member] | Non-government insured/guaranteed [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, 90 days or more past due and still accruing | 79 | 88 |
Other consumer [Member] | Non-government insured/guaranteed [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, 90 days or more past due and still accruing | $ 17 | $ 18 |
Loans and Related Allowance _15
Loans and Related Allowance for Credit Losses, Troubled Debt Restructurings Modifications (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | $ 721 | $ 942 | $ 1,566 | $ 1,893 | |
Financial effects of modifications [Abstract] | |||||
Charge-offs | $ 4 | $ 45 | $ 14 | $ 59 | |
Weighted average interest rate reduction | 7.28% | 11.68% | 8.50% | 12.31% | |
Accounts, Notes, Loans and Financing Receivable Textual [Abstract] | |||||
Financing receivable, troubled debt restructuring | $ 9,400 | $ 9,400 | $ 10,200 | ||
Loans and leases receivable, impaired, commitment to lend | 411 | 411 | $ 431 | ||
Total Commercial [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 127 | $ 466 | 238 | $ 805 | |
Financial effects of modifications [Abstract] | |||||
Charge-offs | $ 0 | $ 14 | $ 0 | $ 20 | |
Weighted average interest rate reduction | 4.38% | 1.17% | 5.27% | 1.05% | |
Commercial and industrial loans [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | $ 83 | $ 331 | $ 162 | $ 562 | |
Financial effects of modifications [Abstract] | |||||
Charge-offs | $ 0 | $ 14 | $ 0 | $ 20 | |
Weighted average interest rate reduction | 7.09% | 1.22% | 8.37% | 1.10% | |
Real estate mortgage [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | $ 42 | $ 132 | $ 74 | $ 236 | |
Financial effects of modifications [Abstract] | |||||
Charge-offs | $ 0 | $ 0 | $ 0 | $ 0 | |
Weighted average interest rate reduction | 0.62% | 1.15% | 0.99% | 1.04% | |
Real estate construction [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | $ 1 | $ 2 | $ 1 | $ 3 | |
Financial effects of modifications [Abstract] | |||||
Charge-offs | $ 0 | $ 0 | $ 0 | $ 0 | |
Weighted average interest rate reduction | 0% | 0% | 0% | 0% | |
Lease financing [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | $ 1 | $ 1 | $ 1 | $ 4 | |
Financial effects of modifications [Abstract] | |||||
Charge-offs | $ 0 | $ 0 | $ 0 | $ 0 | |
Weighted average interest rate reduction | 0% | 0% | 0% | 0% | |
Total Consumer [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | $ 594 | $ 476 | $ 1,328 | $ 1,088 | |
Loan restructuring, trial modifications, amount | 41 | 2 | 252 | 2 | |
Financial effects of modifications [Abstract] | |||||
Charge-offs | $ 4 | $ 31 | $ 14 | $ 39 | |
Weighted average interest rate reduction | 7.47% | 13.24% | 8.73% | 13.67% | |
Residential mortgage - first lien [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | $ 429 | $ 361 | $ 805 | $ 900 | |
Financial effects of modifications [Abstract] | |||||
Charge-offs | $ 1 | $ 1 | $ 2 | $ 1 | |
Weighted average interest rate reduction | 1.36% | 1.26% | 1.44% | 1.53% | |
Residential mortgage - junior lien [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | $ 48 | $ 11 | $ 77 | $ 29 | |
Financial effects of modifications [Abstract] | |||||
Charge-offs | $ 1 | $ 0 | $ 1 | $ 1 | |
Weighted average interest rate reduction | 2.41% | 2.51% | 2.39% | 2.44% | |
Credit card [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | $ 63 | $ 24 | $ 133 | $ 56 | |
Financial effects of modifications [Abstract] | |||||
Charge-offs | $ 0 | $ 0 | $ 0 | $ 0 | |
Weighted average interest rate reduction | 19.23% | 19.02% | 19.17% | 18.93% | |
Auto [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | $ 9 | $ 74 | $ 53 | $ 89 | |
Financial effects of modifications [Abstract] | |||||
Charge-offs | $ 2 | $ 30 | $ 11 | $ 37 | |
Weighted average interest rate reduction | 4.02% | 3.93% | 4.64% | 3.90% | |
Other consumer [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | $ 4 | $ 4 | $ 8 | $ 12 | |
Financial effects of modifications [Abstract] | |||||
Charge-offs | $ 0 | $ 0 | $ 0 | $ 0 | |
Weighted average interest rate reduction | 11.01% | 12.02% | 11.31% | 12.14% | |
Primary modification type, Principal forgiveness [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | $ 0 | $ 42 | $ 2 | $ 42 | |
Primary modification type, Principal forgiveness [Member] | Total Commercial [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 0 | 41 | 0 | 41 | |
Primary modification type, Principal forgiveness [Member] | Commercial and industrial loans [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 0 | 0 | 0 | 0 | |
Primary modification type, Principal forgiveness [Member] | Real estate mortgage [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 0 | 41 | 0 | 41 | |
Primary modification type, Principal forgiveness [Member] | Real estate construction [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 0 | 0 | 0 | 0 | |
Primary modification type, Principal forgiveness [Member] | Lease financing [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 0 | 0 | 0 | 0 | |
Primary modification type, Principal forgiveness [Member] | Total Consumer [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 0 | 1 | 2 | 1 | |
Loan restructuring, trial modifications, amount | 0 | 0 | 0 | 0 | |
Primary modification type, Principal forgiveness [Member] | Residential mortgage - first lien [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 0 | 0 | 1 | 0 | |
Primary modification type, Principal forgiveness [Member] | Residential mortgage - junior lien [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 0 | 0 | 0 | 0 | |
Primary modification type, Principal forgiveness [Member] | Credit card [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 0 | 0 | 0 | 0 | |
Primary modification type, Principal forgiveness [Member] | Auto [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 0 | 1 | 1 | 1 | |
Primary modification type, Principal forgiveness [Member] | Other consumer [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 0 | 0 | 0 | 0 | |
Primary modification type, Interest rate reduction [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 208 | 45 | 363 | 102 | |
Primary modification type, Interest rate reduction [Member] | Total Commercial [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 13 | 6 | 24 | 11 | |
Primary modification type, Interest rate reduction [Member] | Commercial and industrial loans [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 8 | 1 | 14 | 2 | |
Primary modification type, Interest rate reduction [Member] | Real estate mortgage [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 5 | 5 | 10 | 9 | |
Primary modification type, Interest rate reduction [Member] | Real estate construction [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 0 | 0 | 0 | 0 | |
Primary modification type, Interest rate reduction [Member] | Lease financing [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 0 | 0 | 0 | 0 | |
Primary modification type, Interest rate reduction [Member] | Total Consumer [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 195 | 39 | 339 | 91 | |
Loan restructuring, trial modifications, amount | 0 | 0 | 0 | 0 | |
Primary modification type, Interest rate reduction [Member] | Residential mortgage - first lien [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 106 | 8 | 166 | 15 | |
Primary modification type, Interest rate reduction [Member] | Residential mortgage - junior lien [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 21 | 2 | 29 | 7 | |
Primary modification type, Interest rate reduction [Member] | Credit card [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 63 | 24 | 133 | 56 | |
Primary modification type, Interest rate reduction [Member] | Auto [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 1 | 1 | 4 | 2 | |
Primary modification type, Interest rate reduction [Member] | Other consumer [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 4 | 4 | 7 | 11 | |
Primary modification type, Other concessions [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 513 | 855 | 1,201 | 1,749 | |
Primary modification type, Other concessions [Member] | Total Commercial [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 114 | 419 | 214 | 753 | |
Primary modification type, Other concessions [Member] | Commercial and industrial loans [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 75 | 330 | 148 | 560 | |
Primary modification type, Other concessions [Member] | Real estate mortgage [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 37 | 86 | 64 | 186 | |
Primary modification type, Other concessions [Member] | Real estate construction [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 1 | 2 | 1 | 3 | |
Primary modification type, Other concessions [Member] | Lease financing [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 1 | 1 | 1 | 4 | |
Primary modification type, Other concessions [Member] | Total Consumer [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 399 | 436 | 987 | 996 | |
Loan restructuring, trial modifications, amount | 41 | 2 | 252 | 2 | |
Primary modification type, Other concessions [Member] | Residential mortgage - first lien [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 323 | 353 | 638 | 885 | |
Primary modification type, Other concessions [Member] | Residential mortgage - junior lien [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 27 | 9 | 48 | 22 | |
Primary modification type, Other concessions [Member] | Credit card [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 0 | 0 | 0 | 0 | |
Primary modification type, Other concessions [Member] | Auto [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 8 | 72 | 48 | 86 | |
Primary modification type, Other concessions [Member] | Other consumer [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 0 | 0 | 1 | 1 | |
Trial modifications [Member] | Total Consumer [Member] | |||||
Financial effects of modifications [Abstract] | |||||
Charge-offs | $ 0 | $ 0 | $ 0 | $ 0 | |
Weighted average interest rate reduction | 0% | 0% | 0% | 0% | |
Financial effects of modification, Recorded investment related to interest rate reduction [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | $ 208 | $ 45 | $ 363 | $ 102 | |
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 | 13 | 6 | 24 | 11 | |
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 | 8 | 1 | 14 | 2 | |
Financial effects of modification, Recorded investment related to interest rate reduction [Member] | Real estate mortgage [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 5 | 5 | 10 | 9 | |
Financial effects of modification, Recorded investment related to interest rate reduction [Member] | Real estate construction [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 0 | 0 | 0 | 0 | |
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 | 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 | 195 | 39 | 339 | 91 | |
Loan restructuring, trial modifications, amount | 0 | 0 | 0 | 0 | |
Financial effects of modification, Recorded investment related to interest rate reduction [Member] | Residential mortgage - first lien [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 106 | 8 | 166 | 15 | |
Financial effects of modification, Recorded investment related to interest rate reduction [Member] | Residential mortgage - junior lien [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 21 | 2 | 29 | 7 | |
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 | 63 | 24 | 133 | 56 | |
Financial effects of modification, Recorded investment related to interest rate reduction [Member] | Auto [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 1 | 1 | 4 | 2 | |
Financial effects of modification, Recorded investment related to interest rate reduction [Member] | Other consumer [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | 4 | 4 | 7 | 11 | |
Loans remodified [Member] | |||||
Primary Modification Type [Abstract] | |||||
Financing receivable, troubled debt restructuring, post modification | $ 132 | $ 202 | $ 250 | $ 458 |
Loans and Related Allowance _16
Loans and Related Allowance for Credit Losses, Defaulted Troubled Debt Restructurings (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Recorded investment of defaults | $ 78 | $ 113 | $ 147 | $ 196 |
Total Commercial [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Recorded investment of defaults | 11 | 93 | 62 | 150 |
Commercial and industrial loans [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Recorded investment of defaults | 3 | 84 | 52 | 125 |
Real estate mortgage [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Recorded investment of defaults | 8 | 9 | 10 | 25 |
Real estate construction [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Recorded investment of defaults | 0 | 0 | 0 | 0 |
Lease financing [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Recorded investment of defaults | 0 | 0 | 0 | 0 |
Total Consumer [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Recorded investment of defaults | 67 | 20 | 85 | 46 |
Residential mortgage - first lien [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Recorded investment of defaults | 49 | 2 | 56 | 5 |
Residential mortgage - junior lien [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Recorded investment of defaults | 2 | 0 | 2 | 1 |
Credit card [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Recorded investment of defaults | 8 | 6 | 13 | 16 |
Auto [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Recorded investment of defaults | 7 | 12 | 13 | 23 |
Other consumer [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Recorded investment of defaults | $ 1 | $ 0 | $ 1 | $ 1 |
Leasing Activity, Leasing Reven
Leasing Activity, Leasing Revenue (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Income and Expenses, Lessor [Abstract] | ||||
Interest income on lease financing | $ 152 | $ 172 | $ 304 | $ 353 |
Variable revenue on lease financing | 27 | 25 | 57 | 51 |
Fixed revenue on operating leases | 242 | 254 | 487 | 514 |
Variable revenue on operating leases | 14 | 18 | 29 | 36 |
Other lease-related revenue | 50 | 16 | 87 | 27 |
Noninterest income on leases | 333 | 313 | 660 | 628 |
Total leasing revenue | 485 | 485 | 964 | 981 |
Leasing Activity Disclosures Textual [Abstract] | ||||
Lease expense | $ 185 | $ 226 | $ 373 | $ 452 |
Leasing Activity, Operating Lea
Leasing Activity, Operating Lease Right-of-Use (ROU) Assets and Lease Liabilities (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Leases [Abstract] | ||
ROU assets | $ 3,835 | $ 3,805 |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Lease liabilities | $ 4,458 | $ 4,476 |
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] | Other Liabilities | Other Liabilities |
Leasing Activity, Lease Costs (
Leasing Activity, Lease Costs (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Leases [Abstract] | ||||
Fixed lease expense – operating leases | $ 253 | $ 265 | $ 506 | $ 530 |
Variable lease expense | 70 | 69 | 143 | 147 |
Other | (8) | (28) | (18) | (31) |
Total lease costs | $ 315 | $ 306 | $ 631 | $ 646 |
Equity Securities (Details)
Equity Securities (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Equity Securities [Line Items] | ||
Equity securities, carried at fair value | $ 27,653 | $ 39,098 |
Equity securities | 61,774 | 72,886 |
Related to trading activities [Member] | ||
Equity Securities [Line Items] | ||
Equity securities, carried at fair value | 25,930 | 27,476 |
Related to trading activities [Member] | Marketable equity securities [Member] | ||
Equity Securities [Line Items] | ||
Equity securities, carried at fair value | 16,640 | 27,476 |
Related to trading activities [Member] | Nonmarketable equity securities [Member] | ||
Equity Securities [Line Items] | ||
Equity securities, carried at fair value | 9,290 | 0 |
Not held for trading [Member] | ||
Equity Securities [Line Items] | ||
Equity securities, carried at fair value | 1,723 | 11,622 |
Equity securities | 35,844 | 45,410 |
Not held for trading [Member] | Marketable equity securities [Member] | ||
Equity Securities [Line Items] | ||
Equity securities, carried at fair value | 1,625 | 2,578 |
Not held for trading [Member] | Nonmarketable equity securities [Member] | ||
Equity Securities [Line Items] | ||
Equity securities, carried at fair value | 98 | 9,044 |
Not held for trading [Member] | Equity method investments [Member] | ||
Equity Securities [Line Items] | ||
Equity securities, not carried at fair value | 8,229 | 8,196 |
Not held for trading [Member] | Private equity [Member] | ||
Equity Securities [Line Items] | ||
Equity securities, not carried at fair value | 2,918 | 3,077 |
Not held for trading [Member] | Tax-advantaged renewable energy [Member] | ||
Equity Securities [Line Items] | ||
Equity securities, not carried at fair value | 4,949 | 4,740 |
Not held for trading [Member] | New market tax credit and other [Member] | ||
Equity Securities [Line Items] | ||
Equity securities, not carried at fair value | 362 | 379 |
Not held for trading [Member] | Low-income housing tax credit investments [Member] | ||
Equity Securities [Line Items] | ||
Equity securities, not carried at fair value | 12,341 | 12,314 |
Not held for trading [Member] | Other method investments - Private equity [Member] | ||
Equity Securities [Line Items] | ||
Equity securities, not carried at fair value | 9,969 | 9,694 |
Not held for trading [Member] | Federal Reserve Bank stock and other at cost [Member] | ||
Equity Securities [Line Items] | ||
Equity securities, not carried at fair value | $ 3,582 | $ 3,584 |
Equity Securities Net Gains (Lo
Equity Securities Net Gains (Losses) from Equity Securities (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net Gains (Losses) from Equity Securities [Line Items] | ||||
Total net gains (losses) from equity securities not held for trading | $ (615) | $ 2,696 | $ (39) | $ 3,088 |
Not designated as hedging instrument [Member] | ||||
Net Gains (Losses) from Equity Securities [Line Items] | ||||
Net gains (losses) from economic hedge derivatives | 7,298 | (2,001) | 11,281 | (1,238) |
Economic hedges [Member] | ||||
Net Gains (Losses) from Equity Securities [Line Items] | ||||
Net gains (losses) from economic hedge derivatives | 545 | (560) | 395 | (454) |
Net gains (losses) from equity securities [Member] | Economic hedges [Member] | ||||
Net Gains (Losses) from Equity Securities [Line Items] | ||||
Net gains (losses) from economic hedge derivatives | 0 | (762) | 0 | (337) |
Equity securities [Member] | Net gains (losses) from equity securities [Member] | ||||
Net Gains (Losses) from Equity Securities [Line Items] | ||||
Total equity securities carried at fair value | (242) | 967 | (266) | 669 |
Marketable equity securities [Member] | Net gains (losses) from equity securities [Member] | ||||
Net Gains (Losses) from Equity Securities [Line Items] | ||||
Total equity securities carried at fair value | (226) | 74 | (228) | 134 |
Nonmarketable equity securities [Member] | Net gains (losses) from equity securities [Member] | ||||
Net Gains (Losses) from Equity Securities [Line Items] | ||||
Total equity securities carried at fair value | (16) | 893 | (38) | 535 |
Total nonmarketable equity securities not carried at fair value | (373) | 2,491 | 227 | 2,756 |
Nonmarketable equity securities [Member] | Impairment write-downs [Member] | ||||
Net Gains (Losses) from Equity Securities [Line Items] | ||||
Total nonmarketable equity securities not carried at fair value | (576) | (42) | (1,014) | (57) |
Nonmarketable equity securities [Member] | Net unrealized gains (losses) [Member] | ||||
Net Gains (Losses) from Equity Securities [Line Items] | ||||
Total nonmarketable equity securities not carried at fair value | 144 | 2,037 | 834 | 2,262 |
Nonmarketable equity securities [Member] | Net realized gainsfrom sale [Member] | ||||
Net Gains (Losses) from Equity Securities [Line Items] | ||||
Total nonmarketable equity securities not carried at fair value | $ 59 | $ 496 | $ 407 | $ 551 |
Equity Securities Net Gains (_2
Equity Securities Net Gains (Losses) from Measurement Alternative Equity Securities (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net Gains (Losses) from Measurement Alternative Equity Securities | ||||
Total net gains (losses) recognized during the period | $ (615) | $ 2,696 | $ (39) | $ 3,088 |
Measurement alternative [Member] | Nonmarketable equity securities [Member] | ||||
Net Gains (Losses) from Measurement Alternative Equity Securities | ||||
Gross unrealized gains from observable price changes | 144 | 2,037 | 834 | 2,262 |
Impairment write-downs | (549) | (38) | (944) | (50) |
Net realized gains from sale | 45 | 195 | 78 | 195 |
Total net gains (losses) recognized during the period | $ (360) | $ 2,194 | $ (32) | $ 2,407 |
Equity Securities Measurement A
Equity Securities Measurement Alternative Cumulative Gains (Losses) (Details) - Nonmarketable equity securities [Member] - Measurement alternative [Member] - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Measurement Alternative Cumulative Gains (Losses) | ||
Gross unrealized gains from observable price changes | $ 6,994 | $ 6,278 |
Gross unrealized losses from observable price changes | (3) | (3) |
Impairment write-downs | $ (1,669) | $ (821) |
Other Assets (Details)
Other Assets (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Components of Other Assets [Line Items] | ||
Corporate/bank-owned life insurance | $ 20,718 | $ 20,619 |
Accounts receivable | 30,683 | 20,831 |
Operating lease assets (lessor) | 5,946 | 6,182 |
Operating lease ROU assets (lessee) | 3,835 | 3,805 |
Customer relationship and other amortized intangibles | 1,404 | 1,480 |
Foreclosed assets | 130 | 112 |
Due from customers on acceptances | 79 | 155 |
Other | 15,747 | 11,729 |
Total other assets | 81,384 | 67,259 |
Customer relationship and other amortized intangibles [Member] | ||
Components of Other Assets [Line Items] | ||
Customer relationship and other amortized intangibles | 181 | 211 |
AFS And HTM debt securities [Member] | ||
Components of Other Assets [Line Items] | ||
Interest receivable | 1,372 | 1,360 |
Loans [Member] | ||
Components of Other Assets [Line Items] | ||
Interest receivable | 2,275 | 1,950 |
Trading and other [Member] | ||
Components of Other Assets [Line Items] | ||
Interest receivable | $ 418 | $ 305 |
Securitizations and Variable _3
Securitizations and Variable Interest Entities, Transfers with Continuing Involvement (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Excluding resecuritization [Member] | |||||
Securitizations and Variable Interest Entities Textual [Abstract] | |||||
Cash flows from other interests held | $ 168 | $ 386 | $ 304 | $ 461 | |
Excluding resecuritization [Member] | Fair value, inputs, level 2 [Member] | |||||
Securitizations and Variable Interest Entities Textual [Abstract] | |||||
Securities recognized, trading | 3,600 | 11,200 | 10,300 | 18,000 | |
Excluding resecuritization [Member] | Residential mortgages [Member] | |||||
Quantitative Information, Transferor's Continuing Involvement [Line Items] | |||||
Assets sold | 23,817 | 45,903 | 49,991 | 86,489 | |
Proceeds from transfer | 23,817 | 46,230 | 50,043 | 86,921 | |
Net gains (losses) on sale | 0 | 327 | 52 | 432 | |
Excluding resecuritization [Member] | Residential mortgages [Member] | Fair value, inputs, level 3 [Member] | |||||
Quantitative Information, Transferor's Continuing Involvement [Line Items] | |||||
Servicing rights recognized | 313 | 487 | 640 | 894 | |
Excluding resecuritization [Member] | Residential mortgages [Member] | Fair value, inputs, level 2 [Member] | |||||
Quantitative Information, Transferor's Continuing Involvement [Line Items] | |||||
Securities recognized | 475 | 6,171 | 2,062 | 16,394 | |
Excluding resecuritization [Member] | Residential mortgages [Member] | Collateralized financing receivable [Member] | |||||
Quantitative Information, Transferor's Continuing Involvement [Line Items] | |||||
Loans recognized | 0 | 0 | 0 | 926 | |
Excluding resecuritization [Member] | Commercial mortgages [Member] | |||||
Quantitative Information, Transferor's Continuing Involvement [Line Items] | |||||
Assets sold | 4,345 | 5,173 | 8,378 | 8,364 | |
Proceeds from transfer | 4,411 | 5,227 | 8,508 | 8,509 | |
Net gains (losses) on sale | 66 | 54 | 130 | 145 | |
Excluding resecuritization [Member] | Commercial mortgages [Member] | Fair value, inputs, level 3 [Member] | |||||
Quantitative Information, Transferor's Continuing Involvement [Line Items] | |||||
Servicing rights recognized | 41 | 24 | 70 | 71 | |
Excluding resecuritization [Member] | Commercial mortgages [Member] | Fair value, inputs, level 2 [Member] | |||||
Quantitative Information, Transferor's Continuing Involvement [Line Items] | |||||
Securities recognized | 33 | 39 | 137 | 68 | |
Excluding resecuritization [Member] | Commercial mortgages [Member] | Collateralized financing receivable [Member] | |||||
Quantitative Information, Transferor's Continuing Involvement [Line Items] | |||||
Loans recognized | 0 | 0 | 0 | 0 | |
Government insured or guaranteed [Member] | Excluding resecuritization [Member] | Residential mortgages [Member] | |||||
Quantitative Information, Transferor's Continuing Involvement [Line Items] | |||||
Net gains (losses) on sale | 0 | 0 | 0 | 0 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | |||||
Securitizations and Variable Interest Entities Textual [Abstract] | |||||
Maximum exposure to loss | 28,331 | 28,331 | $ 28,370 | ||
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Debt, guarantees, and other commitments [Member] | |||||
Securitizations and Variable Interest Entities Textual [Abstract] | |||||
Maximum exposure to loss | 4,935 | 4,935 | 4,696 | ||
VIEs that we do not consolidate [Member] | Conforming mortgage loan securitization [Member] | |||||
Securitizations and Variable Interest Entities Textual [Abstract] | |||||
Repurchases of assets/loss reimbursements | 564 | $ 1,000 | 1,500 | $ 2,900 | |
Carrying value of delinquent loans eligible for repurchase | 216 | 216 | 107 | ||
Principal amount that would be payable to securitization vehicles | 216 | 216 | 107 | ||
VIEs that we do not consolidate [Member] | Conforming mortgage loan securitization [Member] | Debt and other liabilities [Member] | |||||
Securitizations and Variable Interest Entities Textual [Abstract] | |||||
Liability for mortgage repurchase reserves amount, fair value | 160 | 160 | 173 | ||
VIEs that we do not consolidate [Member] | Conforming mortgage loan securitization [Member] | Debt, guarantees, and other commitments [Member] | |||||
Securitizations and Variable Interest Entities Textual [Abstract] | |||||
Maximum exposure to loss | $ 13,400 | $ 13,400 | $ 13,300 |
Securitizations and Variable _4
Securitizations and Variable Interest Entities, Residential Mortgage Servicing Rights (Details) - Residential mortgage servicing rights [Member] - $ / loan | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Fair Value Assumption, Date of Securitization or Asset-backed Financing Arrangement, Transferor's Continuing Involvement, Servicing Assets or Liabilities [Line Items] | ||||
Prepayment rate | 10.90% | 13.40% | 11% | 13.80% |
Discount rate | 8% | 6.10% | 7.50% | 6% |
Cost to service ($ per loan) | 122 | 91 | 117 | 87 |
Securitizations and Variable _5
Securitizations and Variable Interest Entities, Resecuritization Activities (Details) - USD ($) $ in Millions | 6 Months Ended | ||||
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |||
Variable Interest Entity [Line Items] | |||||
Assets | $ 1,881,142 | [1] | $ 1,945,996 | $ 1,948,068 | [1] |
Resecuritization [Member] | VIEs that we do not consolidate [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Assets sold | 12,600 | 25,300 | |||
Assets, nonconsolidated VIE | 117,200 | 117,700 | |||
Resecuritization [Member] | VIEs that we do not consolidate [Member] | Carrying value [Member] | Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Assets | 951 | $ 817 | |||
Resecuritization [Member] | VIEs that we do not consolidate [Member] | Fair value, inputs, level 2 [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Securities recognized | $ 525 | $ 915 | |||
[1]Our consolidated assets at June 30, 2022 and December 31, 2021, included the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Debt securities, $71 million and $71 million; Loans, $4.5 billion and $4.5 billion; All other assets, $167 million and $234 million; and Total assets, $4.7 billion and $4.8 billion, respectively. |
Securitizations and Variable _6
Securitizations and Variable Interest Entities, Loans Serviced for Others (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | $ 796,493 | $ 811,775 | |
Delinquent loans and foreclosed assets | 7,840 | 12,637 | |
Net charge-offs | 29 | $ 134 | |
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Foreclosed assets | 130 | 112 | |
Government insured or guaranteed [Member] | |||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | 719,400 | 736,800 | |
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Delinquent loans | 6,100 | 10,200 | |
Foreclosed assets | 104 | 100 | |
Commercial mortgage [Member] | |||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | 122,696 | 120,962 | |
Delinquent loans and foreclosed assets | 1,217 | 1,923 | |
Net charge-offs | 22 | 122 | |
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Foreclosed assets | 370 | 403 | |
Residential mortgage [Member] | |||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | 673,797 | 690,813 | |
Delinquent loans and foreclosed assets | 6,623 | 10,714 | |
Net charge-offs | 7 | $ 12 | |
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Foreclosed assets | $ 133 | $ 129 |
Securitizations and Variable _7
Securitizations and Variable Interest Entities, Unconsolidated VIEs (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 |
Variable Interest Entity [Line Items] | |||
Loans | $ 943,734 | $ 895,394 | $ 852,300 |
Equity securities | 61,774 | 72,886 | |
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Trading debt securities | 89,157 | 88,265 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets, nonconsolidated VIE | 207,009 | 199,695 | |
Maximum exposure to loss | 28,331 | 28,370 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Nonconforming mortgage loan securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets, nonconsolidated VIE | 153,132 | 146,482 | |
Maximum exposure to loss | 3,292 | 3,341 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Tax credit structures [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets, nonconsolidated VIE | 45,838 | 44,528 | |
Maximum exposure to loss | 18,180 | 17,956 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Commercial real estate loans [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets, nonconsolidated VIE | 5,475 | 5,489 | |
Maximum exposure to loss | 6,182 | 6,199 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Other [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets, nonconsolidated VIE | 2,564 | 3,196 | |
Maximum exposure to loss | 677 | 874 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Loans [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 7,679 | 7,916 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Loans [Member] | Nonconforming mortgage loan securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 0 | 0 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Loans [Member] | Tax credit structures [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 1,839 | 1,904 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Loans [Member] | Commercial real estate loans [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 5,464 | 5,481 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Loans [Member] | Other [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 376 | 531 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Securities [Member] | Debt securities [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 2,611 | 2,623 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Securities [Member] | Equity securities [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 12,390 | 12,384 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Securities [Member] | Nonconforming mortgage loan securitizations [Member] | Debt securities [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 2,610 | 2,620 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Securities [Member] | Nonconforming mortgage loan securitizations [Member] | Equity securities [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 0 | 0 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Securities [Member] | Tax credit structures [Member] | Debt securities [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 0 | 0 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Securities [Member] | Tax credit structures [Member] | Equity securities [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 12,348 | 12,322 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Securities [Member] | Commercial real estate loans [Member] | Debt securities [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 0 | 0 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Securities [Member] | Commercial real estate loans [Member] | Equity securities [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 0 | 0 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Securities [Member] | Other [Member] | Debt securities [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 1 | 3 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Securities [Member] | Other [Member] | Equity securities [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 42 | 62 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | All other assets [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 716 | 751 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | All other assets [Member] | Nonconforming mortgage loan securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 676 | 694 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | All other assets [Member] | Tax credit structures [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 0 | 0 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | All other assets [Member] | Commercial real estate loans [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 11 | 8 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | All other assets [Member] | Other [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 29 | 49 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Debt, guarantees, and other commitments [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 4,935 | 4,696 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Debt, guarantees, and other commitments [Member] | Nonconforming mortgage loan securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 6 | 27 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Debt, guarantees, and other commitments [Member] | Tax credit structures [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 3,993 | 3,730 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Debt, guarantees, and other commitments [Member] | Commercial real estate loans [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 707 | 710 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Debt, guarantees, and other commitments [Member] | Other [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 229 | 229 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Carrying value [Member] | |||
Variable Interest Entity [Line Items] | |||
Loans | 7,679 | 7,916 | |
Debt securities | 2,611 | 2,623 | |
Equity securities | 12,390 | 12,384 | |
All other assets | 716 | 751 | |
Debt and other liabilities | (4,868) | (4,942) | |
Net assets | 18,528 | 18,732 | |
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Trading debt securities | 196 | 352 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Carrying value [Member] | Nonconforming mortgage loan securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Loans | 0 | 0 | |
Debt securities | 2,610 | 2,620 | |
Equity securities | 0 | 0 | |
All other assets | 676 | 694 | |
Debt and other liabilities | (6) | 0 | |
Net assets | 3,280 | 3,314 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Carrying value [Member] | Tax credit structures [Member] | |||
Variable Interest Entity [Line Items] | |||
Loans | 1,839 | 1,904 | |
Debt securities | 0 | 0 | |
Equity securities | 12,348 | 12,322 | |
All other assets | 0 | 0 | |
Debt and other liabilities | (4,862) | (4,941) | |
Net assets | 9,325 | 9,285 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Carrying value [Member] | Commercial real estate loans [Member] | |||
Variable Interest Entity [Line Items] | |||
Loans | 5,464 | 5,481 | |
Debt securities | 0 | 0 | |
Equity securities | 0 | 0 | |
All other assets | 11 | 8 | |
Debt and other liabilities | 0 | 0 | |
Net assets | 5,475 | 5,489 | |
VIEs that we do not consolidate [Member] | Excluding resecuritization [Member] | Carrying value [Member] | Other [Member] | |||
Variable Interest Entity [Line Items] | |||
Loans | 376 | 531 | |
Debt securities | 1 | 3 | |
Equity securities | 42 | 62 | |
All other assets | 29 | 49 | |
Debt and other liabilities | 0 | (1) | |
Net assets | $ 448 | $ 644 |
Securitizations and Variable _8
Securitizations and Variable Interest Entities, Transactions with Consolidated VIEs (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | ||
Variable Interest Entity [Line Items] | |||||
Assets | $ 1,881,142 | [1] | $ 1,948,068 | [1] | $ 1,945,996 |
Loans | 943,734 | 895,394 | $ 852,300 | ||
Long-term debt | (150,291) | (160,689) | |||
Carrying value [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Long-term debt | (149,913) | (160,660) | |||
VIEs that we consolidate [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Assets | 7,071 | 7,529 | |||
VIEs that we consolidate [Member] | Commercial and industrial loans and leases [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Assets | 6,999 | 7,013 | |||
VIEs that we consolidate [Member] | Other [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Assets | 72 | 516 | |||
VIEs that we consolidate [Member] | Carrying value [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Assets | 4,709 | 4,781 | |||
Loans | 4,471 | 4,476 | |||
Debt securities | 71 | 71 | |||
All other assets | 167 | 234 | |||
Long-term debt | 0 | (149) | |||
All other liabilities | (241) | (259) | |||
VIEs that we consolidate [Member] | Carrying value [Member] | Commercial and industrial loans and leases [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Loans | 4,471 | 4,099 | |||
Debt securities | 0 | 0 | |||
All other assets | 166 | 231 | |||
Long-term debt | 0 | 0 | |||
All other liabilities | (170) | (188) | |||
VIEs that we consolidate [Member] | Carrying value [Member] | Other [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Loans | 0 | 377 | |||
Debt securities | 71 | 71 | |||
All other assets | 1 | 3 | |||
Long-term debt | 0 | (149) | |||
All other liabilities | $ (71) | $ (71) | |||
[1]Our consolidated assets at June 30, 2022 and December 31, 2021, included the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Debt securities, $71 million and $71 million; Loans, $4.5 billion and $4.5 billion; All other assets, $167 million and $234 million; and Total assets, $4.7 billion and $4.8 billion, respectively. |
Securitizations and Variable _9
Securitizations and Variable Interest Entities, Other Transactions (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
VIEs that we do not consolidate [Member] | ||
Variable Interest Entity [Line Items] | ||
Junior subordinated debenture owed to unconsolidated subsidiary trust | $ 395 | $ 388 |
Mortgage Banking Activities, An
Mortgage Banking Activities, Analysis of Changes in Fair Value MSRs (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Changes in fair value: | ||||
Net changes in valuation inputs or assumptions | $ 868 | $ (809) | $ 2,473 | $ 782 |
Changes due to collection/realization of expected cash flows | (287) | (488) | (644) | (1,073) |
Total changes in fair value | 581 | (1,297) | 1,829 | (291) |
Commercial mortgage servicing [Member] | ||||
Mortgage Banking Activities Textual [Abstract] | ||||
Mortgage servicing rights | 1,200 | 1,300 | 1,200 | 1,300 |
Servicing asset at amortized cost, fair value | 2,100 | 1,500 | 2,100 | 1,500 |
Residential mortgage servicing rights [Member] | ||||
Changes in MSRs measured at fair value | ||||
Fair value, beginning of period | 8,511 | 7,536 | 6,920 | 6,125 |
Servicing from securitizations or asset transfers | 322 | 485 | 664 | 891 |
Sales and other | (251) | (7) | (250) | (8) |
Net additions | 71 | 478 | 414 | 883 |
Changes in fair value: | ||||
Net changes in valuation inputs or assumptions | 868 | (809) | 2,473 | 782 |
Changes due to collection/realization of expected cash flows | (287) | (488) | (644) | (1,073) |
Total changes in fair value | 581 | (1,297) | 1,829 | (291) |
Fair value, end of period | 9,163 | 6,717 | 9,163 | 6,717 |
Residential mortgage servicing rights [Member] | Mortgage interest rates [Member] | ||||
Changes in fair value: | ||||
Net changes in valuation inputs or assumptions | 949 | (529) | 2,648 | 1,101 |
Residential mortgage servicing rights [Member] | Servicing and foreclosure costs [Member] | ||||
Changes in fair value: | ||||
Net changes in valuation inputs or assumptions | (9) | 0 | (12) | 9 |
Residential mortgage servicing rights [Member] | Discount rates [Member] | ||||
Changes in fair value: | ||||
Net changes in valuation inputs or assumptions | 31 | 160 | 86 | 207 |
Residential mortgage servicing rights [Member] | Prepayment estimates and other [Member] | ||||
Changes in fair value: | ||||
Net changes in valuation inputs or assumptions | (103) | $ (440) | $ (249) | $ (535) |
Interest-only strips [Member] | Residential mortgage servicing rights [Member] | ||||
Changes in MSRs measured at fair value | ||||
Sales and other | $ 244 |
Mortgage Banking Activities, Ec
Mortgage Banking Activities, Economic Assumptions and Sensitivity of Residential MSRs (Details) - Residential mortgage servicing rights [Member] $ in Millions | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2022 USD ($) $ / loan | Dec. 31, 2021 USD ($) $ / loan | Mar. 31, 2022 USD ($) | Jun. 30, 2021 USD ($) | Mar. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
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] | ||||||
Mortgage servicing rights, carried at fair value | $ 9,163 | $ 6,920 | $ 8,511 | $ 6,717 | $ 7,536 | $ 6,125 |
Expected weighted-average life (in years) | 6 years 2 months 12 days | 4 years 8 months 12 days | ||||
Key economic assumptions [Abstract] | ||||||
Prepayment rate assumption | 9.70% | 14.70% | ||||
Impact on fair value from 10% adverse change | $ 319 | $ 356 | ||||
Impact on fair value from 25% adverse change | $ 759 | $ 834 | ||||
Discount rate assumption | 8.10% | 6.40% | ||||
Impact on fair value from 100 basis point increase | $ 367 | $ 276 | ||||
Impact on fair value from 200 basis point increase | $ 704 | $ 529 | ||||
Cost to service assumption ($ per loan) | $ / loan | 100 | 106 | ||||
Impact on fair value from 10% adverse change | $ 177 | $ 165 | ||||
Impact on fair value from 25% adverse change | $ 442 | $ 411 |
Mortgage Banking Activities, Ma
Mortgage Banking Activities, Managed Servicing Portfolio (Details) - USD ($) $ in Billions | Jun. 30, 2022 | Dec. 31, 2021 |
Components of Managed Servicing Portfolio [Abstract] | ||
Total managed servicing portfolio | $ 1,702 | $ 1,721 |
Total serviced for others, excluding subserviced for others | $ 1,283 | $ 1,304 |
MSRs as a percentage of loans serviced for others | 0.81% | 0.63% |
Weighted average note rate (mortgage loans serviced for others) | 3.89% | 3.82% |
Mortgage Banking Activities Textual [Abstract] | ||
Servicer advances on mortgage loans | $ 2.6 | $ 3.2 |
Residential mortgage servicing rights [Member] | ||
Components of Managed Servicing Portfolio [Abstract] | ||
Serviced and subserviced for others | 699 | 718 |
Owned loans serviced | 274 | 276 |
Total managed servicing portfolio | 973 | 994 |
Commercial mortgage servicing [Member] | ||
Components of Managed Servicing Portfolio [Abstract] | ||
Serviced and subserviced for others | 595 | 597 |
Owned loans serviced | 134 | 130 |
Total managed servicing portfolio | $ 729 | $ 727 |
Mortgage Banking Activities, Mo
Mortgage Banking Activities, Mortgage Banking Noninterest Income (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Servicing Asset at Amortized Cost [Line Items] | ||||
Contractually specified servicing fees, late charges and ancillary fees | $ 645 | $ 692 | $ 1,280 | $ 1,416 |
Unreimbursed direct servicing costs | (57) | (90) | (81) | (214) |
Servicing fees | 588 | 602 | 1,199 | 1,202 |
Amortization | (64) | (33) | (123) | (98) |
Changes due to collection/realization of expected cash flows | (287) | (488) | (644) | (1,073) |
Net servicing fees | 237 | 81 | 432 | 31 |
Changes in fair value of MSRs due to valuation inputs or assumptions | 868 | (809) | 2,473 | 782 |
Market-related valuation changes to MSRs, net of hedge results | (112) | (102) | (153) | (151) |
Total net servicing income | 125 | (21) | 279 | (120) |
Net gains on mortgage loan originations/sales | 162 | 1,357 | 701 | 2,782 |
Total mortgage banking noninterest income | 287 | 1,336 | 980 | 2,662 |
Total changes in fair value | 581 | (1,297) | 1,829 | (291) |
Mortgage Banking Activities Textual [Abstract] | ||||
Net derivative gains (losses) from economic hedges related to mortgage loans held for sale and derivative loan commitments | 710 | (420) | 2,000 | 845 |
Not designated as hedging instrument [Member] | ||||
Servicing Asset at Amortized Cost [Line Items] | ||||
Net derivative gains (losses) from economic hedges | (980) | 707 | (2,626) | (933) |
Commercial mortgage servicing [Member] | Amortized [Member] | ||||
Mortgage Banking Activities Textual [Abstract] | ||||
MSR impairment | $ 0 | $ (37) | $ (4) | $ (37) |
Intangible Assets (Details)
Intangible Assets (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Amortized intangible assets: | ||||||
Gross carrying value | $ 5,626 | $ 5,636 | ||||
Accumulated amortization | (4,222) | (4,156) | ||||
Net carrying value | 1,404 | 1,480 | ||||
Unamortized intangible assets: | ||||||
Goodwill | 25,178 | 25,180 | ||||
Residential mortgage servicing rights [Member] | ||||||
Unamortized intangible assets: | ||||||
Mortgage servicing rights, carried at fair value | 9,163 | $ 8,511 | 6,920 | $ 6,717 | $ 7,536 | $ 6,125 |
Amortized [Member] | Commercial mortgage servicing [Member] | ||||||
Finite-Lived Intangible Assets [Line Items] | ||||||
MSR Valuation allowance | 4 | |||||
MSRs [Member] | ||||||
Amortized intangible assets: | ||||||
Gross carrying value | 4,872 | 4,794 | ||||
Accumulated amortization | (3,649) | (3,525) | ||||
Net carrying value | 1,223 | 1,269 | ||||
Customer relationship and other intangibles [Member] | ||||||
Amortized intangible assets: | ||||||
Gross carrying value | 754 | 842 | ||||
Accumulated amortization | (573) | (631) | ||||
Net carrying value | $ 181 | $ 211 |
Intangible Assets, Amortization
Intangible Assets, Amortization Expense for Intangible Assets (Details) $ in Millions | 6 Months Ended |
Jun. 30, 2022 USD ($) | |
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | |
Six months ended June 30, 2022 (actual) | $ 153 |
Estimate for the remainder of 2022 | 153 |
Estimate for year ended December 31, | |
2023 | 271 |
2024 | 233 |
2025 | 202 |
2026 | 162 |
2027 | 105 |
MSRs [Member] | |
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | |
Six months ended June 30, 2022 (actual) | 123 |
Estimate for the remainder of 2022 | 123 |
Estimate for year ended December 31, | |
2023 | 220 |
2024 | 192 |
2025 | 169 |
2026 | 135 |
2027 | 105 |
Customer relationship and other intangibles [Member] | |
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | |
Six months ended June 30, 2022 (actual) | 30 |
Estimate for the remainder of 2022 | 30 |
Estimate for year ended December 31, | |
2023 | 51 |
2024 | 41 |
2025 | 33 |
2026 | 27 |
2027 | $ 0 |
Intangible Assets, Goodwill (De
Intangible Assets, Goodwill (Details) $ in Millions | 6 Months Ended |
Jun. 30, 2022 USD ($) | |
Goodwill [Roll Forward] | |
Goodwill, beginning balance | $ 25,180 |
Foreign currency translation | (2) |
Goodwill, ending balance | 25,178 |
Corporate [Member] | |
Goodwill [Roll Forward] | |
Goodwill, beginning balance | 105 |
Foreign currency translation | 0 |
Goodwill, ending balance | 105 |
Consumer Banking and Lending [Member] | Operating Segments [Member] | |
Goodwill [Roll Forward] | |
Goodwill, beginning balance | 16,418 |
Foreign currency translation | 0 |
Goodwill, ending balance | 16,418 |
Commercial Banking [Member] | Operating Segments [Member] | |
Goodwill [Roll Forward] | |
Goodwill, beginning balance | 2,938 |
Foreign currency translation | (2) |
Goodwill, ending balance | 2,936 |
Corporate and Investment Banking [Member] | Operating Segments [Member] | |
Goodwill [Roll Forward] | |
Goodwill, beginning balance | 5,375 |
Foreign currency translation | 0 |
Goodwill, ending balance | 5,375 |
Wealth and Investment Management [Member] | Operating Segments [Member] | |
Goodwill [Roll Forward] | |
Goodwill, beginning balance | 344 |
Foreign currency translation | 0 |
Goodwill, ending balance | $ 344 |
Guarantees - Carrying Value and
Guarantees - Carrying Value and Maximum Exposure to Loss (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2022 | Dec. 31, 2021 | ||
Guarantor Obligations [Line Items] | |||
Carrying value of obligation (asset) | $ 349 | $ (135) | |
Maximum exposure to loss, Expires in one year or less | 33,138 | 28,388 | |
Maximum exposure to loss, Expires after one year through three years | 16,825 | 12,917 | |
Maximum exposure to loss, Expires after three years through five years | 7,276 | 6,990 | |
Maximum exposure to loss, Expires after five years | 14,684 | 17,513 | |
Maximum exposure to loss | $ 71,923 | 65,808 | |
Description of guarantees given by registrant | 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] | $ 1,701,349 | 1,757,958 |
Non-investment grade [Member] | |||
Guarantor Obligations [Line Items] | |||
Maximum exposure to loss | 39,795 | 33,981 | |
Written options [Member] | |||
Guarantor Obligations [Line Items] | |||
Carrying value of obligation (asset) | 211 | (280) | |
Maximum exposure to loss, Expires in one year or less | 15,819 | 12,107 | |
Maximum exposure to loss, Expires after one year through three years | 8,063 | 4,575 | |
Maximum exposure to loss, Expires after three years through five years | 1,420 | 513 | |
Maximum exposure to loss, Expires after five years | 395 | 36 | |
Maximum exposure to loss | 25,697 | 17,231 | |
Written options [Member] | Non-investment grade [Member] | |||
Guarantor Obligations [Line Items] | |||
Maximum exposure to loss | 19,602 | 13,645 | |
Standby letters of credit [Member] | |||
Guarantor Obligations [Line Items] | |||
Carrying value of obligation (asset) | 111 | 119 | |
Maximum exposure to loss, Expires in one year or less | 15,024 | 13,816 | |
Maximum exposure to loss, Expires after one year through three years | 4,797 | 5,260 | |
Maximum exposure to loss, Expires after three years through five years | 1,901 | 1,572 | |
Maximum exposure to loss, Expires after five years | 475 | 460 | |
Maximum exposure to loss | 22,197 | 21,108 | |
Standby letters of credit [Member] | Non-investment grade [Member] | |||
Guarantor Obligations [Line Items] | |||
Maximum exposure to loss | 6,754 | 6,939 | |
Direct pay letters of credit [Member] | |||
Guarantor Obligations [Line Items] | |||
Carrying value of obligation (asset) | 11 | 6 | |
Maximum exposure to loss, Expires in one year or less | 1,550 | 1,597 | |
Maximum exposure to loss, Expires after one year through three years | 2,806 | 2,137 | |
Maximum exposure to loss, Expires after three years through five years | 366 | 1,283 | |
Maximum exposure to loss, Expires after five years | 5 | 4 | |
Maximum exposure to loss | 4,727 | 5,021 | |
Direct pay letters of credit [Member] | Non-investment grade [Member] | |||
Guarantor Obligations [Line Items] | |||
Maximum exposure to loss | 1,318 | 1,373 | |
Loans and LHFS sold with recourse [Member] | |||
Guarantor Obligations [Line Items] | |||
Carrying value of obligation (asset) | 16 | 20 | |
Maximum exposure to loss, Expires in one year or less | 197 | 71 | |
Maximum exposure to loss, Expires after one year through three years | 1,158 | 943 | |
Maximum exposure to loss, Expires after three years through five years | 3,578 | 3,610 | |
Maximum exposure to loss, Expires after five years | 8,659 | 8,650 | |
Maximum exposure to loss | 13,592 | 13,274 | |
Loans and LHFS sold with recourse [Member] | Non-investment grade [Member] | |||
Guarantor Obligations [Line Items] | |||
Maximum exposure to loss | 11,619 | 11,268 | |
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 | 4,941 | 8,100 | |
Maximum exposure to loss | 4,941 | 8,100 | |
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) | 0 | 0 | |
Maximum exposure to loss, Expires in one year or less | 548 | 797 | |
Maximum exposure to loss, Expires after one year through three years | 1 | 2 | |
Maximum exposure to loss, Expires after three years through five years | 11 | 12 | |
Maximum exposure to loss, Expires after five years | 209 | 263 | |
Maximum exposure to loss | 769 | 1,074 | |
Other guarantees and indemnifications [Member] | Non-investment grade [Member] | |||
Guarantor Obligations [Line Items] | |||
Maximum exposure to loss | 502 | 756 | |
Third party clearing indemnifications [Member] | |||
Guarantor Obligations [Line Items] | |||
Maximum exposure to loss | 162 | 216 | |
Collateral provided to third-party clearing agents | 1,100 | 2,300 | |
Other commitments and guarantees [Member] | Wells Fargo Finance, LLC [Member] | |||
Guarantor Obligations [Line Items] | |||
Liabilities | 1,000 | $ 1,200 | |
Debit and credit card [Member] | |||
Guarantor Obligations [Line Items] | |||
Maximum exposure to loss | $ 764,500 | ||
[1]Our consolidated liabilities at June 30, 2022 and December 31, 2021, include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Long-term debt, $0 and $149 million; All other liabilities, $241 million and $259 million; and Total liabilities, $241 million and $408 million, respectively. |
Other Commitments (Details)
Other Commitments (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Other Commitments [Line Items] | ||
Resale agreements, unfunded commitments | $ 10,400 | $ 11,000 |
Purchase commitment [Member] | Debt securities [Member] | ||
Other Commitments [Line Items] | ||
Other commitment | 18 | 18 |
Purchase commitment [Member] | Equity securities [Member] | ||
Other Commitments [Line Items] | ||
Other commitment | $ 2,500 | $ 2,400 |
Pledged Assets (Details)
Pledged Assets (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | ||
Related to trading activities: | |||||
Equity securities, carried at fair value | $ 27,653 | $ 39,098 | |||
Total pledged assets related to trading activities | 140,616 | 139,162 | |||
Related to VIEs: | |||||
Assets | 1,881,142 | [1] | 1,948,068 | [1] | $ 1,945,996 |
Loans eligible for repurchase from GNMA securitizations | 217 | 109 | |||
Total pledged assets | 438,399 | 420,516 | |||
VIEs that we consolidate [Member] | |||||
Related to VIEs: | |||||
Assets | 7,071 | 7,529 | |||
Carrying value [Member] | VIEs that we consolidate [Member] | |||||
Related to VIEs: | |||||
Assets | 4,709 | 4,781 | |||
Carrying value [Member] | Total VIEs and Transfers that we account for as secured borrowings [Member] | |||||
Related to VIEs: | |||||
Total pledged assets | 4,926 | 4,890 | |||
Related to trading activities [Member] | |||||
Related to trading activities: | |||||
Equity securities, carried at fair value | 25,930 | 27,476 | |||
Related to non-trading activities [Member] | |||||
Related to trading activities: | |||||
Equity securities, carried at fair value | 1,723 | 11,622 | |||
Related to non-trading activities: | |||||
Loans | 299,258 | 288,698 | |||
Deb securities: | |||||
Available-for-sale | 64,065 | 65,198 | |||
Held-to-maturity | 11,034 | 13,843 | |||
Other financial assets | 42 | 1,600 | |||
Related to VIEs: | |||||
Total pledged assets | 374,399 | 369,339 | |||
Related to trading activities [Member] | |||||
Related to trading activities: | |||||
Trading debt securities and other | 22,788 | 14,216 | |||
Total pledged assets related to trading activities | 59,074 | 46,287 | |||
Related to trading activities [Member] | Related to trading activities [Member] | |||||
Related to trading activities: | |||||
Equity securities, carried at fair value | 1,766 | 984 | |||
Related to trading activities [Member] | Repledged third-party owned debt and equity securities [Member] | |||||
Related to trading activities: | |||||
Total pledged assets related to trading activities | $ 34,520 | $ 31,087 | |||
[1]Our consolidated assets at June 30, 2022 and December 31, 2021, included the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Debt securities, $71 million and $71 million; Loans, $4.5 billion and $4.5 billion; All other assets, $167 million and $234 million; and Total assets, $4.7 billion and $4.8 billion, respectively. |
Pledged Assets, Offsetting - Se
Pledged Assets, Offsetting - Securities Financing Activities (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Financial Instruments Owned and Pledged as Collateral [Line Items] | ||
Net amounts in consolidated balance sheet | $ 80,730 | $ 89,066 |
Collateral received with the right to sell or repledge | 127,700 | 124,400 |
Resale, Securities Borrowing and Similar Arrangements | ||
Gross amounts recognized | 103,668 | 103,140 |
Gross amounts offset in consolidated balance sheet | (22,938) | (14,074) |
Net amounts in consolidated balance sheet | 80,730 | 89,066 |
Collateral not recognized in consolidated balance sheet | (80,096) | (88,330) |
Net amount | 634 | 736 |
Repurchase and securities lending agreements | ||
Gross amounts recognized | 46,612 | 35,043 |
Gross amounts offset in consolidated balance sheet | (22,938) | (14,074) |
Net amounts in consolidated balance sheet | 23,674 | 20,969 |
Collateral pledged but not netted in consolidated balance sheet | (23,450) | (20,820) |
Net amount | 224 | 149 |
Collateral sold or repledged | 33,200 | 28,800 |
Collateral pledged, fair value | 48,000 | 35,900 |
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 | 55,500 | 66,200 |
Resale, Securities Borrowing and Similar Arrangements | ||
Net amounts in consolidated balance sheet | 55,500 | 66,200 |
Loans [Member] | ||
Financial Instruments Owned and Pledged as Collateral [Line Items] | ||
Net amounts in consolidated balance sheet | 25,200 | 22,900 |
Resale, Securities Borrowing and Similar Arrangements | ||
Net amounts in consolidated balance sheet | $ 25,200 | $ 22,900 |
Pledged Assets, Collateral Type
Pledged Assets, Collateral Type and Contractual Maturities of Gross Obligations (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | $ 39,410 | $ 29,783 |
Securities lending arrangements | 7,202 | 5,260 |
Total repurchases and securities lending | 46,612 | 35,043 |
Overnight/Continuous [Member] | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | 26,682 | 16,452 |
Securities lending arrangements | 6,752 | 4,810 |
Total repurchases and securities lending | 33,434 | 21,262 |
Up to 30 days [Member] | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | 5,337 | 3,570 |
Securities lending arrangements | 0 | 0 |
Total repurchases and securities lending | 5,337 | 3,570 |
30-90 Days [Member] | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | 1,957 | 4,276 |
Securities lending arrangements | 0 | 0 |
Total repurchases and securities lending | 1,957 | 4,276 |
Over 90 days [Member] | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | 5,434 | 5,485 |
Securities lending arrangements | 450 | 450 |
Total repurchases and securities lending | 5,884 | 5,935 |
Securities of U.S. Treasury and federal agencies [Member] | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | 24,460 | 14,956 |
Securities lending arrangements | 232 | 33 |
Securities of U.S. states and political subdivisions [Member] | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | 60 | 1 |
Federal agency mortgage-backed securities [Member] | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | 4,755 | 3,432 |
Securities lending arrangements | 28 | 17 |
Non-agency mortgage-backed securities [Member] | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | 1,056 | 809 |
Corporate debt securities [Member] | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | 7,129 | 8,899 |
Securities lending arrangements | 149 | 80 |
Asset-backed securities index [Member] | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | 532 | 358 |
Equity securities [Member] | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | 564 | 919 |
Securities lending arrangements | 6,715 | 5,050 |
Other liabilities [Member] | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | 854 | 409 |
Securities lending arrangements | $ 78 | $ 80 |
Legal Actions (Details)
Legal Actions (Details) $ in Millions | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||
Jul. 12, 2022 | May 06, 2022 legal_action | Apr. 19, 2022 legal_action | Feb. 04, 2022 legal_action | Dec. 31, 2020 legal_action | Feb. 21, 2020 USD ($) | Nov. 30, 2016 USD ($) | Jul. 13, 2012 USD ($) | Mar. 31, 2022 legal_action | Mar. 31, 2021 legal_action | Jun. 30, 2022 USD ($) legal_action | Aug. 31, 2015 legal_action | Sep. 09, 2021 USD ($) | Apr. 20, 2018 USD ($) | Jul. 31, 2017 legal_action | Nov. 17, 2016 legal_action | |
Liability for contingent litigation losses [Member] | ||||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||||
Range of possible loss, portion not accrued | $ | $ 3,200 | |||||||||||||||
ATM Access Fee Litigation [Member] | ||||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||||
Loss contingency, pending claims, number | 3 | |||||||||||||||
Loss Contingency, Estimate of Possible Loss | $ | $ 20.8 | |||||||||||||||
Retail Sales Practices, CPI and GAP, and Mortgage interest rate lock matters [Member] | ||||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||||
Civil Money Penalty | $ | $ 1,000 | |||||||||||||||
Automobile Lending Matters [Member] | ||||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||||
Loss contingency, pending claims, number | 1 | |||||||||||||||
Commercial Lending Shareholder Litigation [Member] | ||||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||||
Loss Contingency, Date of Dismissal | May 06, 2022 | |||||||||||||||
Loss Contingency, Claims Dismissed, Number | 1 | |||||||||||||||
Wells Fargo Shareholders [Member] | ||||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||||
Loss Contingency, Date of Dismissal | Feb. 04, 2022 | |||||||||||||||
Loss Contingency, Claims Dismissed, Number | 1 | |||||||||||||||
Loss Contingency, New Claims Filed, Number | 1 | |||||||||||||||
Hiring Practices Matters [Member] | ||||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||||
Loss Contingency, New Claims Filed, Number | 1 | |||||||||||||||
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 | |||||||||||||||
Mortgage Lending Matters (OCC) [Member] | ||||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||||
Civil Money Penalty | $ | $ 250 | |||||||||||||||
Nomura/Natixis [Member] | ||||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||||
Loss Contingency, Claims Settled and Dismissed, Number | 6 | |||||||||||||||
Number Of Third Party Complaints | 7 | |||||||||||||||
Retail Sales Practices Matters, Department Of Justice (DOJ) [Member] | ||||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||||
Loss Contingency, Settlement Agreement, Date | February 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. | |||||||||||||||
Retail Sales Practices Matters, Securities And Exchange Commission (SEC) [Member] | ||||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||||
Loss Contingency, Settlement Agreement, Date | February 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. | |||||||||||||||
Sales Practice Matters [Member] | ||||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||||
Loss Contingency, Damages Awarded, Value | $ | $ 3,000 | |||||||||||||||
RMBS Trustee - Phoenix Light SF [Member] | Subsequent event [Member] | ||||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||||
Loss Contingency, Date of Dismissal | Jul. 12, 2022 | |||||||||||||||
RMBS Trustee - Institutional Investors [Member] | ||||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||||
Loss Contingency, Claims Settled, Number | 2 | |||||||||||||||
RBMS Trustee - NCUA [Member] | ||||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||||
Loss Contingency, Claims Settled, Number | 1 | |||||||||||||||
Seminole Tribe - Administration of a minor’s trust [Member] | ||||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||||
Loss contingency, pending claims, number | 3 |
Derivatives, Notional or Contra
Derivatives, Notional or Contractual Amounts and Fair Values of Derivatives (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets, gross | $ 70,196 | $ 52,908 |
Fair value derivative assets, netting | (45,300) | (31,430) |
Total derivatives recognized in consolidated balance sheet, net, assets | 24,896 | 21,478 |
Fair value of derivative liabilities, gross | 62,029 | 45,956 |
Fair value derivative liabilities, netting | (44,861) | (36,532) |
Net amounts in consolidated balance sheet, liabilities | 17,168 | 9,424 |
Designated as hedging instrument [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets, gross | 1,245 | 2,519 |
Fair value of derivative liabilities, gross | 1,979 | 999 |
Designated as hedging instrument [Member] | Interest rate contracts [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 215,814 | 153,993 |
Fair value derivative assets, gross | 1,142 | 2,212 |
Fair value of derivative liabilities, gross | 291 | 327 |
Designated as hedging instrument [Member] | Commodity contracts [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 2,251 | 1,739 |
Fair value derivative assets, gross | 47 | 26 |
Fair value of derivative liabilities, gross | 3 | 3 |
Designated as hedging instrument [Member] | Foreign exchange contracts [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 20,105 | 24,949 |
Fair value derivative assets, gross | 56 | 281 |
Fair value of derivative liabilities, gross | 1,685 | 669 |
Not designated as hedging instrument [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets, gross | 68,951 | 50,389 |
Fair value of derivative liabilities, gross | 60,050 | 44,957 |
Economic hedges [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets, gross | 1,390 | 1,935 |
Fair value of derivative liabilities, gross | 641 | 1,323 |
Economic hedges [Member] | Interest rate contracts [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 89,973 | 142,234 |
Fair value derivative assets, gross | 200 | 40 |
Fair value of derivative liabilities, gross | 121 | 41 |
Economic hedges [Member] | Equity contracts [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 3,883 | 26,263 |
Fair value derivative assets, gross | 0 | 1,493 |
Fair value of derivative liabilities, gross | 338 | 1,194 |
Economic hedges [Member] | Foreign exchange contracts [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 34,324 | 28,192 |
Fair value derivative assets, gross | 1,175 | 395 |
Fair value of derivative liabilities, gross | 182 | 88 |
Economic hedges [Member] | Credit contracts [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 275 | 290 |
Fair value derivative assets, gross | 15 | 7 |
Fair value of derivative liabilities, gross | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets, gross | 67,561 | 48,454 |
Fair value of derivative liabilities, gross | 59,409 | 43,634 |
Customer accommodation trading and other derivatives [Member] | Interest rate contracts [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 9,931,381 | 7,976,534 |
Fair value derivative assets, gross | 29,654 | 20,286 |
Fair value of derivative liabilities, gross | 30,376 | 17,435 |
Customer accommodation trading and other derivatives [Member] | Commodity contracts [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 112,758 | 74,903 |
Fair value derivative assets, gross | 12,884 | 5,939 |
Fair value of derivative liabilities, gross | 5,757 | 2,414 |
Customer accommodation trading and other derivatives [Member] | Equity contracts [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 388,726 | 321,863 |
Fair value derivative assets, gross | 13,092 | 16,278 |
Fair value of derivative liabilities, gross | 10,230 | 17,827 |
Customer accommodation trading and other derivatives [Member] | Foreign exchange contracts [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 892,949 | 560,049 |
Fair value derivative assets, gross | 11,877 | 5,912 |
Fair value of derivative liabilities, gross | 13,008 | 5,915 |
Customer accommodation trading and other derivatives [Member] | Credit contracts [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 42,677 | 38,318 |
Fair value derivative assets, gross | 54 | 39 |
Fair value of derivative liabilities, gross | $ 38 | $ 43 |
Derivatives, Fair Values of Der
Derivatives, Fair Values of Derivative Assets and Liabilities (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Derivative Assets | ||
Derivative Assets | $ 64,373 | $ 45,876 |
Counterparty netting, assets | (37,266) | (27,172) |
Cash collateral netting, assets | (8,034) | (4,258) |
Total derivatives subject to enforceable master netting arrangements, net, assets | 19,073 | 14,446 |
Derivatives not subject to enforceable master netting arrangements, assets | 5,823 | 7,032 |
Total derivatives recognized in consolidated balance sheet, net, assets | 24,896 | 21,478 |
Non-cash collateral not offset, assets | (2,774) | (1,432) |
Total Derivatives, net, assets | 22,122 | 20,046 |
Derivative Liabilities | ||
Derivative Liabilities | 56,532 | 41,238 |
Counterparty netting, liabilities | (37,217) | (27,046) |
Cash collateral netting, liabilities | (7,644) | (9,486) |
Total derivatives subject to enforceable master netting arrangements, net, liabilities | 11,671 | 4,706 |
Derivatives not subject to enforceable master netting arrangements , liabilities | 5,497 | 4,718 |
Total derivatives recognized in consolidated balance sheet, net, liabilities | 17,168 | 9,424 |
Non-cash collateral not offset, Liabilities | (981) | (412) |
Total Derivatives, net, liabilities | 16,187 | 9,012 |
Derivatives (Textual) [Abstract] | ||
Valuation adjustments for derivative assets | 438 | 284 |
Valuation adjustments for derivative liabilities | 403 | 158 |
Interest rate contracts [Member] | ||
Derivative Assets | ||
Derivative Assets | 29,208 | 20,287 |
Derivative Liabilities | ||
Derivative Liabilities | 28,490 | 16,874 |
Interest rate contracts [Member] | OTC [Member] | ||
Derivative Assets | ||
Derivative Assets | 27,868 | 20,067 |
Derivative Liabilities | ||
Derivative Liabilities | 27,274 | 16,654 |
Interest rate contracts [Member] | OTC cleared [Member] | ||
Derivative Assets | ||
Derivative Assets | 1,027 | 168 |
Derivative Liabilities | ||
Derivative Liabilities | 1,013 | 192 |
Interest rate contracts [Member] | Exchange traded [Member] | ||
Derivative Assets | ||
Derivative Assets | 313 | 52 |
Derivative Liabilities | ||
Derivative Liabilities | 203 | 28 |
Commodity contracts [Member] | ||
Derivative Assets | ||
Derivative Assets | 12,144 | 5,597 |
Derivative Liabilities | ||
Derivative Liabilities | 5,406 | 2,296 |
Commodity contracts [Member] | OTC [Member] | ||
Derivative Assets | ||
Derivative Assets | 10,745 | 5,040 |
Derivative Liabilities | ||
Derivative Liabilities | 2,942 | 1,249 |
Commodity contracts [Member] | Exchange traded [Member] | ||
Derivative Assets | ||
Derivative Assets | 1,399 | 557 |
Derivative Liabilities | ||
Derivative Liabilities | 2,464 | 1,047 |
Equity contracts [Member] | ||
Derivative Assets | ||
Derivative Assets | 10,516 | 13,625 |
Derivative Liabilities | ||
Derivative Liabilities | 8,915 | 15,816 |
Equity contracts [Member] | OTC [Member] | ||
Derivative Assets | ||
Derivative Assets | 5,397 | 6,132 |
Derivative Liabilities | ||
Derivative Liabilities | 5,109 | 9,730 |
Equity contracts [Member] | Exchange traded [Member] | ||
Derivative Assets | ||
Derivative Assets | 5,119 | 7,493 |
Derivative Liabilities | ||
Derivative Liabilities | 3,806 | 6,086 |
Foreign exchange contracts [Member] | ||
Derivative Assets | ||
Derivative Assets | 12,463 | 6,335 |
Derivative Liabilities | ||
Derivative Liabilities | 13,694 | 6,221 |
Foreign exchange contracts [Member] | OTC [Member] | ||
Derivative Assets | ||
Derivative Assets | 12,463 | 6,335 |
Derivative Liabilities | ||
Derivative Liabilities | 13,694 | 6,221 |
Credit contracts [Member] | ||
Derivative Assets | ||
Derivative Assets | 42 | 32 |
Derivative Liabilities | ||
Derivative Liabilities | 27 | 31 |
Credit contracts [Member] | OTC [Member] | ||
Derivative Assets | ||
Derivative Assets | 42 | 32 |
Derivative Liabilities | ||
Derivative Liabilities | $ 27 | $ 31 |
Derivatives, Gains (Losses) Rec
Derivatives, Gains (Losses) Recognized on Fair Value Hedging Relationships (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Line Items Presented in the Consolidated Statement of Income and Other Comprehensive Income [Abstract] | ||||
Debt securities | $ 2,702 | $ 2,199 | $ 5,265 | $ 4,511 |
Deposits | (158) | (92) | (241) | (204) |
Long-term debt | (1,011) | (712) | (1,772) | (1,738) |
Other | 554 | 692 | 1,110 | 1,674 |
Total recorded in OCI, Derivative gains (losses) | (111) | 37 | (84) | 84 |
Derivatives (Textual) [Abstract] | ||||
Deferred net gains (losses) on derivatives in other comprehensive income | $ (107) | |||
Maximum length of time hedged in cash flow hedge | 10 years | |||
Fair value hedging [Member] | ||||
Total gains (losses) (pre-tax) recognized on fair value hedges | ||||
Recognized on derivatives, Total recorded in OCI | 46 | (14) | $ 110 | 11 |
Fair value hedging [Member] | Interest contracts [Member] | ||||
Total gains (losses) (pre-tax) recognized on fair value hedges | ||||
Recognized on derivatives, Total recorded in OCI | 0 | 0 | 0 | 0 |
Fair value hedging [Member] | Foreign exchange contracts [Member] | ||||
Total gains (losses) (pre-tax) recognized on fair value hedges | ||||
Recognized on derivatives, Total recorded in OCI | 46 | (14) | 110 | 11 |
Fair value hedging [Member] | Commodity contracts [Member] | ||||
Total gains (losses) (pre-tax) recognized on fair value hedges | ||||
Recognized on derivatives, Total recorded in OCI | 0 | 0 | 0 | 0 |
Fair value hedging [Member] | Debt securities [Member] | ||||
Total gains (losses) (pre-tax) recognized on fair value hedges | ||||
Total gains (losses) (pre-tax) on interest rate contracts | (30) | (68) | (57) | (71) |
Fair value hedging [Member] | Debt securities [Member] | Interest contracts [Member] | ||||
Total gains (losses) (pre-tax) recognized on fair value hedges | ||||
Amounts related to interest settlements on derivatives | (45) | (68) | (86) | (135) |
Recognized on derivatives | 768 | (468) | 2,030 | 826 |
Recognized on hedged items | (753) | 452 | (2,001) | (806) |
Total gains (losses) (pre-tax) on interest rate contracts | (30) | (84) | (57) | (115) |
Fair value hedging [Member] | Debt securities [Member] | Foreign exchange contracts [Member] | ||||
Total gains (losses) (pre-tax) recognized on fair value hedges | ||||
Amounts related to interest settlements on derivatives | 0 | 15 | 0 | 43 |
Recognized on derivatives | 0 | 2 | 0 | 3 |
Recognized on hedged items | 0 | (1) | 0 | (2) |
Total gains (losses) (pre-tax) on interest rate contracts | 0 | 16 | 0 | 44 |
Fair value hedging [Member] | Debt securities [Member] | Commodity contracts [Member] | ||||
Total gains (losses) (pre-tax) recognized on fair value hedges | ||||
Recognized on derivatives | 0 | 0 | 0 | 0 |
Recognized on hedged items | 0 | 0 | 0 | 0 |
Total gains (losses) (pre-tax) on interest rate contracts | 0 | 0 | 0 | 0 |
Fair value hedging [Member] | Deposits [Member] | ||||
Total gains (losses) (pre-tax) recognized on fair value hedges | ||||
Total gains (losses) (pre-tax) on interest rate contracts | 21 | 75 | 60 | 162 |
Fair value hedging [Member] | Deposits [Member] | Interest contracts [Member] | ||||
Total gains (losses) (pre-tax) recognized on fair value hedges | ||||
Amounts related to interest settlements on derivatives | 23 | 74 | 64 | 165 |
Recognized on derivatives | (70) | (61) | (215) | (184) |
Recognized on hedged items | 68 | 62 | 211 | 181 |
Total gains (losses) (pre-tax) on interest rate contracts | 21 | 75 | 60 | 162 |
Fair value hedging [Member] | Deposits [Member] | Foreign exchange contracts [Member] | ||||
Total gains (losses) (pre-tax) recognized on fair value hedges | ||||
Amounts related to interest settlements on derivatives | 0 | 0 | 0 | 0 |
Recognized on derivatives | 0 | 0 | 0 | 0 |
Recognized on hedged items | 0 | 0 | 0 | 0 |
Total gains (losses) (pre-tax) on interest rate contracts | 0 | 0 | 0 | 0 |
Fair value hedging [Member] | Deposits [Member] | Commodity contracts [Member] | ||||
Total gains (losses) (pre-tax) recognized on fair value hedges | ||||
Recognized on derivatives | 0 | 0 | 0 | 0 |
Recognized on hedged items | 0 | 0 | 0 | 0 |
Total gains (losses) (pre-tax) on interest rate contracts | 0 | 0 | 0 | 0 |
Fair value hedging [Member] | Long-term debt [Member] | ||||
Total gains (losses) (pre-tax) recognized on fair value hedges | ||||
Total gains (losses) (pre-tax) on interest rate contracts | 259 | 598 | 677 | 987 |
Fair value hedging [Member] | Long-term debt [Member] | Interest contracts [Member] | ||||
Total gains (losses) (pre-tax) recognized on fair value hedges | ||||
Amounts related to interest settlements on derivatives | 336 | 541 | 817 | 1,091 |
Recognized on derivatives | (5,202) | 2,453 | (12,071) | (4,618) |
Recognized on hedged items | 5,128 | (2,402) | 11,941 | 4,542 |
Total gains (losses) (pre-tax) on interest rate contracts | 262 | 592 | 687 | 1,015 |
Fair value hedging [Member] | Long-term debt [Member] | Foreign exchange contracts [Member] | ||||
Total gains (losses) (pre-tax) recognized on fair value hedges | ||||
Amounts related to interest settlements on derivatives | (21) | 4 | (17) | 3 |
Recognized on derivatives | (315) | (42) | (771) | (269) |
Recognized on hedged items | 333 | 44 | 778 | 238 |
Total gains (losses) (pre-tax) on interest rate contracts | (3) | 6 | (10) | (28) |
Fair value hedging [Member] | Long-term debt [Member] | Commodity contracts [Member] | ||||
Total gains (losses) (pre-tax) recognized on fair value hedges | ||||
Recognized on derivatives | 0 | 0 | 0 | 0 |
Recognized on hedged items | 0 | 0 | 0 | 0 |
Total gains (losses) (pre-tax) on interest rate contracts | 0 | 0 | 0 | 0 |
Fair value hedging [Member] | Other noninterest income [Member] | ||||
Total gains (losses) (pre-tax) recognized on fair value hedges | ||||
Total gains (losses) (pre-tax) on interest rate contracts | (20) | (5) | (26) | (15) |
Fair value hedging [Member] | Other noninterest income [Member] | Interest contracts [Member] | ||||
Total gains (losses) (pre-tax) recognized on fair value hedges | ||||
Amounts related to interest settlements on derivatives | 0 | 0 | 0 | 0 |
Recognized on derivatives | 0 | 0 | 0 | 0 |
Recognized on hedged items | 0 | 0 | 0 | 0 |
Total gains (losses) (pre-tax) on interest rate contracts | 0 | 0 | 0 | 0 |
Fair value hedging [Member] | Other noninterest income [Member] | Foreign exchange contracts [Member] | ||||
Total gains (losses) (pre-tax) recognized on fair value hedges | ||||
Amounts related to interest settlements on derivatives | 0 | 0 | 0 | 0 |
Recognized on derivatives | (929) | 202 | (1,171) | 509 |
Recognized on hedged items | 898 | (203) | 1,139 | (520) |
Total gains (losses) (pre-tax) on interest rate contracts | (31) | (1) | (32) | (11) |
Fair value hedging [Member] | Other noninterest income [Member] | Commodity contracts [Member] | ||||
Total gains (losses) (pre-tax) recognized on fair value hedges | ||||
Recognized on derivatives | 228 | (38) | 136 | 33 |
Recognized on hedged items | (217) | 34 | (130) | (37) |
Total gains (losses) (pre-tax) on interest rate contracts | 11 | (4) | 6 | (4) |
Fair value hedging [Member] | Derivative gains (losses) [Member] | ||||
Total gains (losses) (pre-tax) recognized on fair value hedges | ||||
Total gains (losses) (pre-tax) on interest rate contracts | 230 | 600 | 654 | 1,063 |
Fair value hedging [Member] | Derivative gains (losses) [Member] | Interest contracts [Member] | ||||
Total gains (losses) (pre-tax) recognized on fair value hedges | ||||
Amounts related to interest settlements on derivatives | 314 | 547 | 795 | 1,121 |
Recognized on derivatives | (4,504) | 1,924 | (10,256) | (3,976) |
Recognized on hedged items | 4,443 | (1,888) | 10,151 | 3,917 |
Total gains (losses) (pre-tax) on interest rate contracts | 253 | 583 | 690 | 1,062 |
Fair value hedging [Member] | Derivative gains (losses) [Member] | Foreign exchange contracts [Member] | ||||
Total gains (losses) (pre-tax) recognized on fair value hedges | ||||
Amounts related to interest settlements on derivatives | (21) | 19 | (17) | 46 |
Recognized on derivatives | (1,244) | 162 | (1,942) | 243 |
Recognized on hedged items | 1,231 | (160) | 1,917 | (284) |
Total gains (losses) (pre-tax) on interest rate contracts | (34) | 21 | (42) | 5 |
Fair value hedging [Member] | Derivative gains (losses) [Member] | Commodity contracts [Member] | ||||
Total gains (losses) (pre-tax) recognized on fair value hedges | ||||
Recognized on derivatives | 228 | (38) | 136 | 33 |
Recognized on hedged items | (217) | 34 | (130) | (37) |
Total gains (losses) (pre-tax) on interest rate contracts | $ 11 | $ (4) | $ 6 | $ (4) |
Derivatives, Gains (Losses) R_2
Derivatives, Gains (Losses) Recognized on Cash Flow Hedging Relationships (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Line Items Presented in the Consolidated Statement of Income and Other Comprehensive Income [Abstract] | ||||
Loans | $ 8,116 | $ 7,095 | $ 15,334 | $ 14,296 |
Other interest income | 419 | 74 | 509 | 139 |
Long-term debt | (1,011) | (712) | (1,772) | (1,738) |
Total recorded in OCI, Derivative gains (losses) | (111) | 37 | (84) | 84 |
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 | (43) | 40 | (29) | 93 |
Net unrealized gains (losses) (pre-tax) recognized in OCI | (114) | 11 | (165) | (20) |
Other comprehensive income (loss), cash flow hedge, gain (loss), after reclassification, before tax | (157) | 51 | (194) | 73 |
Cash flow hedging [Member] | Interest rate contracts [Member] | ||||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | ||||
Reclassification of net (gains) losses to net income on cash flow hedges, Before tax | (45) | 39 | (33) | 91 |
Net unrealized gains (losses) (pre-tax) recognized in OCI | (101) | 10 | (149) | (10) |
Other comprehensive income (loss), cash flow hedge, gain (loss), after reclassification, before tax | (146) | 49 | (182) | 81 |
Cash flow hedging [Member] | Foreign exchange contracts [Member] | ||||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | ||||
Reclassification of net (gains) losses to net income on cash flow hedges, Before tax | 2 | 1 | 4 | 2 |
Net unrealized gains (losses) (pre-tax) recognized in OCI | (13) | 1 | (16) | (10) |
Other comprehensive income (loss), cash flow hedge, gain (loss), after reclassification, before tax | (11) | 2 | (12) | (8) |
Cash flow hedging [Member] | Loans [Member] | ||||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | ||||
Total gain (loss) (pre-tax) on cash flow hedges recognized in earnings | 11 | (39) | (5) | (91) |
Cash flow hedging [Member] | Loans [Member] | Interest rate contracts [Member] | ||||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | ||||
Realized gains (losses) (pre-tax) reclassified from OCI into net income | 11 | (39) | (5) | (91) |
Total gain (loss) (pre-tax) on cash flow hedges recognized in earnings | 11 | (39) | (5) | (91) |
Cash flow hedging [Member] | Loans [Member] | Foreign exchange contracts [Member] | ||||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | ||||
Realized gains (losses) (pre-tax) reclassified from OCI into net income | 0 | 0 | 0 | 0 |
Total gain (loss) (pre-tax) on cash flow hedges recognized in earnings | 0 | 0 | 0 | 0 |
Cash flow hedging [Member] | Other interest income [Member] | ||||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | ||||
Total gain (loss) (pre-tax) on cash flow hedges recognized in earnings | 34 | 0 | 38 | 0 |
Cash flow hedging [Member] | Other interest income [Member] | Interest rate contracts [Member] | ||||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | ||||
Realized gains (losses) (pre-tax) reclassified from OCI into net income | 34 | 0 | 38 | 0 |
Total gain (loss) (pre-tax) on cash flow hedges recognized in earnings | 34 | 0 | 38 | 0 |
Cash flow hedging [Member] | Other interest income [Member] | Foreign exchange contracts [Member] | ||||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | ||||
Realized gains (losses) (pre-tax) reclassified from OCI into net income | 0 | 0 | 0 | 0 |
Total gain (loss) (pre-tax) on cash flow hedges recognized in earnings | 0 | 0 | 0 | 0 |
Cash flow hedging [Member] | Long-term debt [Member] | ||||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | ||||
Total gain (loss) (pre-tax) on cash flow hedges recognized in earnings | (2) | (1) | (4) | (2) |
Cash flow hedging [Member] | Long-term debt [Member] | Interest rate contracts [Member] | ||||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | ||||
Realized gains (losses) (pre-tax) reclassified from OCI into net income | 0 | 0 | 0 | 0 |
Total gain (loss) (pre-tax) on cash flow hedges recognized in earnings | 0 | 0 | 0 | 0 |
Cash flow hedging [Member] | Long-term debt [Member] | Foreign exchange contracts [Member] | ||||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | ||||
Realized gains (losses) (pre-tax) reclassified from OCI into net income | (2) | (1) | (4) | (2) |
Total gain (loss) (pre-tax) on cash flow hedges recognized in earnings | (2) | (1) | (4) | (2) |
Cash flow hedging [Member] | Derivative gains (losses) [Member] | ||||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | ||||
Total gain (loss) (pre-tax) on cash flow hedges recognized in earnings | 43 | (40) | 29 | (93) |
Cash flow hedging [Member] | Derivative gains (losses) [Member] | Interest rate contracts [Member] | ||||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | ||||
Realized gains (losses) (pre-tax) reclassified from OCI into net income | 45 | (39) | 33 | (91) |
Total gain (loss) (pre-tax) on cash flow hedges recognized in earnings | 45 | (39) | 33 | (91) |
Cash flow hedging [Member] | Derivative gains (losses) [Member] | Foreign exchange contracts [Member] | ||||
Gains (losses) recognized on cash flow hedging relationships [Abstract] | ||||
Realized gains (losses) (pre-tax) reclassified from OCI into net income | (2) | (1) | (4) | (2) |
Total gain (loss) (pre-tax) on cash flow hedges recognized in earnings | $ (2) | $ (1) | $ (4) | $ (2) |
Derivatives, Hedged Items in Fa
Derivatives, Hedged Items in Fair Value Hedging Relationships (Details) - Fair value hedging [Member] - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Hedged items currently designated [Member] | Available-for-sale debt securities [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying amount of assets | $ 42,006 | $ 24,144 |
Hedge accounting basis adjustment, assets | (2,342) | (559) |
Hedged items currently designated [Member] | Other assets [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying amount of assets | 1,718 | 1,156 |
Hedge accounting basis adjustment, assets | (115) | (58) |
Hedged items currently designated [Member] | Deposits [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying amount of liabilities | (6,309) | (10,187) |
Hedge accounting basis adjustment, liabilities | 68 | (144) |
Hedged items currently designated [Member] | Long-term debt [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying amount of liabilities | (131,292) | (138,801) |
Hedge accounting basis adjustment, liabilities | 7,547 | (5,192) |
Not designated as hedging instrument [Member] | Available-for-sale debt securities [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying amount of assets | 17,405 | 17,962 |
Hedge accounting basis adjustment, assets | 840 | 965 |
Not designated as hedging instrument [Member] | Other assets [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying amount of assets | 0 | 0 |
Hedge accounting basis adjustment, assets | 0 | 0 |
Not designated as hedging instrument [Member] | Deposits [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying amount of liabilities | (11) | 0 |
Hedge accounting basis adjustment, liabilities | 0 | 0 |
Not designated as hedging instrument [Member] | Long-term debt [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying amount of liabilities | (5) | 0 |
Hedge accounting basis adjustment, liabilities | 0 | 0 |
Foreign exchange contracts [Member] | Hedged items currently designated [Member] | Available-for-sale debt securities [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying amount of assets | 765 | 873 |
Foreign exchange contracts [Member] | Hedged items currently designated [Member] | Long-term debt [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying amount of liabilities | 0 | (2,700) |
Re-designated as hedging instrument [Member] | Available-for-sale debt securities [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Hedge accounting basis adjustment, assets | 62 | 136 |
Re-designated as hedging instrument [Member] | Long-term debt [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Hedge accounting basis adjustment, liabilities | $ 228 | $ 188 |
Derivatives, Gains (Losses) on
Derivatives, Gains (Losses) on Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Derivatives (Textual) [Abstract] | ||||
Net derivative gains (losses) from economic hedges related to mortgage loans held for sale and derivative loan commitments | $ 710 | $ (420) | $ 2,000 | $ 845 |
Not designated as hedging instrument [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 7,298 | (2,001) | 11,281 | (1,238) |
Derivatives (Textual) [Abstract] | ||||
Gains (losses) on derivatives used to hedge residential mortgage servicing rights | (980) | 707 | (2,626) | (933) |
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] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (584) | 769 | (1,450) | (137) |
Not designated as hedging instrument [Member] | Net gains (losses) on trading and securities [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 7,143 | (2,381) | 11,812 | (679) |
Not designated as hedging instrument [Member] | Other [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 739 | (389) | 919 | (422) |
Not designated as hedging instrument [Member] | Personnel expense [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 577 | (239) | 843 | (399) |
Economic hedges [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 545 | (560) | 395 | (454) |
Economic hedges [Member] | Interest contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (296) | 301 | (690) | (94) |
Economic hedges [Member] | Equity contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 1 | (766) | 9 | (336) |
Economic hedges [Member] | Foreign exchange contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 838 | (90) | 1,069 | (19) |
Economic hedges [Member] | Credit contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 2 | (5) | 7 | (5) |
Economic hedges [Member] | Mortgage banking [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (270) | 287 | (638) | (88) |
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] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (270) | 287 | (638) | (88) |
Economic hedges [Member] | Mortgage banking [Member] | Equity contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 |
Economic hedges [Member] | Mortgage banking [Member] | Foreign exchange contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 |
Economic hedges [Member] | Mortgage banking [Member] | Credit contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 |
Economic hedges [Member] | Net gains (losses) on trading and securities [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | (762) | 0 | (337) |
Economic hedges [Member] | Net gains (losses) on trading and securities [Member] | Interest contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 |
Economic hedges [Member] | Net gains (losses) on trading and securities [Member] | Equity contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | (762) | 0 | (337) |
Economic hedges [Member] | Net gains (losses) on trading and securities [Member] | Foreign exchange contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 |
Economic hedges [Member] | Net gains (losses) on trading and securities [Member] | Credit contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 |
Economic hedges [Member] | Other [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 815 | (85) | 1,033 | (29) |
Economic hedges [Member] | Other [Member] | Interest contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (26) | 14 | (52) | (6) |
Economic hedges [Member] | Other [Member] | Equity contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 1 | (4) | 9 | 1 |
Economic hedges [Member] | Other [Member] | Foreign exchange contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 838 | (90) | 1,069 | (19) |
Economic hedges [Member] | Other [Member] | Credit contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 2 | (5) | 7 | (5) |
Economic hedges [Member] | Personnel expense [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 577 | (239) | 843 | (399) |
Economic hedges [Member] | Personnel expense [Member] | Interest contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 |
Economic hedges [Member] | Personnel expense [Member] | Equity contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 577 | (239) | 843 | (399) |
Economic hedges [Member] | Personnel expense [Member] | Foreign exchange contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 |
Economic hedges [Member] | Personnel expense [Member] | Credit contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 6,753 | (1,441) | 10,886 | (784) |
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] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 2,477 | (112) | 5,193 | 1,281 |
Customer accommodation trading and other derivatives [Member] | Commodity contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 104 | (36) | 217 | 44 |
Customer accommodation trading and other derivatives [Member] | Equity contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 3,825 | (1,226) | 4,790 | (2,478) |
Customer accommodation trading and other derivatives [Member] | Foreign exchange contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 318 | (24) | 645 | 440 |
Customer accommodation trading and other derivatives [Member] | Credit contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 29 | (43) | 41 | (71) |
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] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (314) | 482 | (812) | (49) |
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] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (314) | 482 | (812) | (49) |
Customer accommodation trading and other derivatives [Member] | Mortgage banking [Member] | Commodity contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Mortgage banking [Member] | Equity contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Mortgage banking [Member] | Foreign exchange contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Mortgage banking [Member] | Credit contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Net gains (losses) on trading and securities [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 7,143 | (1,619) | 11,812 | (342) |
Customer accommodation trading and other derivatives [Member] | Net gains (losses) on trading and securities [Member] | Interest contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 2,791 | (594) | 6,005 | 1,330 |
Customer accommodation trading and other derivatives [Member] | Net gains (losses) on trading and securities [Member] | Commodity contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 104 | (36) | 217 | 44 |
Customer accommodation trading and other derivatives [Member] | Net gains (losses) on trading and securities [Member] | Equity contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 3,901 | (922) | 4,904 | (2,085) |
Customer accommodation trading and other derivatives [Member] | Net gains (losses) on trading and securities [Member] | Foreign exchange contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 318 | (24) | 645 | 440 |
Customer accommodation trading and other derivatives [Member] | Net gains (losses) on trading and securities [Member] | Credit contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 29 | (43) | 41 | (71) |
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] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (76) | (304) | (114) | (393) |
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] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Other [Member] | Commodity contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Other [Member] | Equity contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (76) | (304) | (114) | (393) |
Customer accommodation trading and other derivatives [Member] | Other [Member] | Foreign exchange contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Other [Member] | Credit contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Personnel expense [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Personnel expense [Member] | Interest contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Personnel expense [Member] | Commodity contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Personnel expense [Member] | Equity contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Personnel expense [Member] | Foreign exchange contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 |
Customer accommodation trading and other derivatives [Member] | Personnel expense [Member] | Credit contracts [Member] | ||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | ||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | $ 0 | $ 0 | $ 0 | $ 0 |
Derivatives, Sold Credit Deriva
Derivatives, Sold Credit Derivatives (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount, Protection sold | $ 16,479 | $ 14,789 |
Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount, Protection sold | 9,105 | 7,994 |
Credit default swaps [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount, Protection sold | 9,274 | 8,033 |
Credit default swaps [Member] | Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount, Protection sold | 2,110 | 1,982 |
Risk participation swaps [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount, Protection sold | 7,205 | 6,756 |
Risk participation swaps [Member] | Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount, Protection sold | $ 6,995 | $ 6,012 |
Derivatives Derivatives, Credit
Derivatives Derivatives, Credit-Risk Contingent Features (Details) - USD ($) $ in Billions | Jun. 30, 2022 | Dec. 31, 2021 |
Derivatives [Abstract] | ||
Net derivative liabilities with credit-risk contingent features | $ 12.7 | $ 12.2 |
Collateral posted | 10.5 | 11 |
Additional collateral to be posted upon a below investment grade credit rating | $ 2.2 | $ 1.2 |
Fair Value, Assets and Liabilit
Fair Value, Assets and Liabilities, Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Assets: | ||
Trading debt securities | $ 89,157 | $ 88,265 |
Available-for-sale debt securities | 125,832 | 177,244 |
Gross derivative asset | 64,373 | 45,876 |
Marketable equity securities | 27,653 | 39,098 |
Equity securities | 61,774 | 72,886 |
Liabilities: | ||
Total derivative liabilities (gross) | (56,532) | (41,238) |
Interest rate contracts [Member] | ||
Assets: | ||
Gross derivative asset | 29,208 | 20,287 |
Liabilities: | ||
Total derivative liabilities (gross) | (28,490) | (16,874) |
Commodity contracts [Member] | ||
Assets: | ||
Gross derivative asset | 12,144 | 5,597 |
Liabilities: | ||
Total derivative liabilities (gross) | (5,406) | (2,296) |
Equity contracts [Member] | ||
Assets: | ||
Gross derivative asset | 10,516 | 13,625 |
Liabilities: | ||
Total derivative liabilities (gross) | (8,915) | (15,816) |
Foreign exchange contracts [Member] | ||
Assets: | ||
Gross derivative asset | 12,463 | 6,335 |
Liabilities: | ||
Total derivative liabilities (gross) | (13,694) | (6,221) |
Credit contracts [Member] | ||
Assets: | ||
Gross derivative asset | 42 | 32 |
Liabilities: | ||
Total derivative liabilities (gross) | (27) | (31) |
Securities of U.S. Treasury and federal agencies [Member] | ||
Assets: | ||
Available-for-sale debt securities | 46,515 | 39,661 |
Collateralized loan obligations [Member] | ||
Assets: | ||
Available-for-sale debt securities | 4,409 | 5,708 |
Non-U.S. government securities [Member] | ||
Assets: | ||
Available-for-sale debt securities | 166 | 71 |
Securities of U.S. states and political subdivisions [Member] | ||
Assets: | ||
Available-for-sale debt securities | 12,076 | 16,917 |
Federal agency mortgage-backed securities [Member] | ||
Assets: | ||
Available-for-sale debt securities | 56,195 | 105,886 |
Non-agency mortgage-backed securities [Member] | ||
Assets: | ||
Available-for-sale debt securities | 3,804 | 4,532 |
Other debt securities [Member] | ||
Assets: | ||
Available-for-sale debt securities | 2,667 | 4,469 |
Fair value, recurring [Member] | ||
Assets: | ||
Loans held for sale | 5,699 | 15,895 |
Gross derivative asset | 70,196 | 52,908 |
Total assets prior to derivative netting | 327,700 | 380,249 |
Fair value assets, Derivative netting | (45,300) | (31,430) |
Total assets after derivative netting | 282,400 | 348,819 |
Liabilities: | ||
Total derivative liabilities (gross) | (62,029) | (45,956) |
Short-sale and other trading liabilities | (22,634) | (20,685) |
Total liabilities prior to derivative netting | (84,663) | (66,641) |
Fair value liabilities, Derivative netting | 44,861 | 36,532 |
Total liabilities after derivative netting | (39,802) | (30,109) |
Fair value, recurring [Member] | Residential mortgage [Member] | ||
Assets: | ||
Mortgage servicing rights | 9,163 | 6,920 |
Fair value, recurring [Member] | Interest rate contracts [Member] | ||
Assets: | ||
Gross derivative asset | 30,996 | 22,538 |
Liabilities: | ||
Total derivative liabilities (gross) | (30,788) | (17,803) |
Fair value, recurring [Member] | Commodity contracts [Member] | ||
Assets: | ||
Gross derivative asset | 12,931 | 5,965 |
Liabilities: | ||
Total derivative liabilities (gross) | (5,760) | (2,417) |
Fair value, recurring [Member] | Equity contracts [Member] | ||
Assets: | ||
Gross derivative asset | 13,092 | 17,771 |
Liabilities: | ||
Total derivative liabilities (gross) | (10,568) | (19,021) |
Fair value, recurring [Member] | Foreign exchange contracts [Member] | ||
Assets: | ||
Gross derivative asset | 13,108 | 6,588 |
Liabilities: | ||
Total derivative liabilities (gross) | (14,875) | (6,672) |
Fair value, recurring [Member] | Credit contracts [Member] | ||
Assets: | ||
Gross derivative asset | 69 | 46 |
Liabilities: | ||
Total derivative liabilities (gross) | (38) | (43) |
Fair value, recurring [Member] | Debt securities [Member] | ||
Assets: | ||
Trading debt securities | 89,157 | 88,265 |
Available-for-sale debt securities | 125,832 | 177,244 |
Fair value, recurring [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Assets: | ||
Trading debt securities | 35,254 | 29,856 |
Available-for-sale debt securities | 46,515 | 39,661 |
Fair value, recurring [Member] | Collateralized loan obligations [Member] | ||
Assets: | ||
Trading debt securities | 747 | 866 |
Available-for-sale debt securities | 4,409 | 5,708 |
Fair value, recurring [Member] | Corporate debt securities [Member] | ||
Assets: | ||
Trading debt securities | 10,381 | 10,005 |
Fair value, recurring [Member] | Non-U.S. government securities [Member] | ||
Assets: | ||
Available-for-sale debt securities | 166 | 71 |
Fair value, recurring [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Assets: | ||
Available-for-sale debt securities | 12,076 | 16,917 |
Fair value, recurring [Member] | Federal agency mortgage-backed securities [Member] | ||
Assets: | ||
Trading debt securities | 32,615 | 40,350 |
Available-for-sale debt securities | 56,195 | 105,886 |
Fair value, recurring [Member] | Non-agency mortgage-backed securities [Member] | ||
Assets: | ||
Trading debt securities | 1,256 | 1,542 |
Available-for-sale debt securities | 3,804 | 4,532 |
Fair value, recurring [Member] | Other debt securities [Member] | ||
Assets: | ||
Trading debt securities | 8,904 | 5,646 |
Available-for-sale debt securities | 2,667 | 4,469 |
Fair value, recurring [Member] | Equity securities [Member] | ||
Assets: | ||
Equity securities | 27,653 | 39,017 |
Fair value, recurring [Member] | Marketable equity securities [Member] | ||
Assets: | ||
Marketable equity securities | 18,265 | 30,054 |
Fair value, recurring [Member] | Nonmarketable equity securities [Member] | ||
Assets: | ||
Nonmarketable equity securities | 9,388 | 8,963 |
Fair value, recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets: | ||
Loans held for sale | 0 | 0 |
Gross derivative asset | 4,845 | 6,462 |
Total assets prior to derivative netting | 100,083 | 103,698 |
Liabilities: | ||
Total derivative liabilities (gross) | (3,558) | (5,856) |
Short-sale and other trading liabilities | (16,698) | (15,436) |
Total liabilities prior to derivative netting | (20,256) | (21,292) |
Fair value, recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Residential mortgage [Member] | ||
Assets: | ||
Mortgage servicing rights | 0 | 0 |
Fair value, recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Interest rate contracts [Member] | ||
Assets: | ||
Gross derivative asset | 313 | 52 |
Liabilities: | ||
Total derivative liabilities (gross) | (203) | (28) |
Fair value, recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Commodity contracts [Member] | ||
Assets: | ||
Gross derivative asset | 0 | 0 |
Liabilities: | ||
Total derivative liabilities (gross) | 0 | 0 |
Fair value, recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Equity contracts [Member] | ||
Assets: | ||
Gross derivative asset | 4,499 | 6,402 |
Liabilities: | ||
Total derivative liabilities (gross) | (3,312) | (5,820) |
Fair value, recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Foreign exchange contracts [Member] | ||
Assets: | ||
Gross derivative asset | 33 | 8 |
Liabilities: | ||
Total derivative liabilities (gross) | (43) | (8) |
Fair value, recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Credit contracts [Member] | ||
Assets: | ||
Gross derivative asset | 0 | 0 |
Liabilities: | ||
Total derivative liabilities (gross) | 0 | 0 |
Fair value, recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Debt securities [Member] | ||
Assets: | ||
Trading debt securities | 30,701 | 27,607 |
Available-for-sale debt securities | 46,515 | 39,661 |
Fair value, recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Assets: | ||
Trading debt securities | 30,701 | 27,607 |
Available-for-sale debt securities | 46,515 | 39,661 |
Fair value, recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Collateralized loan obligations [Member] | ||
Assets: | ||
Trading debt securities | 0 | 0 |
Available-for-sale debt securities | 0 | 0 |
Fair value, recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate debt securities [Member] | ||
Assets: | ||
Trading debt securities | 0 | 0 |
Fair value, recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Non-U.S. government securities [Member] | ||
Assets: | ||
Available-for-sale debt securities | 0 | 0 |
Fair value, recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Assets: | ||
Available-for-sale debt securities | 0 | 0 |
Fair value, recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Federal agency mortgage-backed securities [Member] | ||
Assets: | ||
Trading debt securities | 0 | 0 |
Available-for-sale debt securities | 0 | 0 |
Fair value, recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Non-agency mortgage-backed securities [Member] | ||
Assets: | ||
Trading debt securities | 0 | 0 |
Available-for-sale debt securities | 0 | 0 |
Fair value, recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other debt securities [Member] | ||
Assets: | ||
Trading debt securities | 0 | 0 |
Available-for-sale debt securities | 0 | 0 |
Fair value, recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Equity securities [Member] | ||
Assets: | ||
Equity securities | 18,022 | 29,968 |
Fair value, recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Marketable equity securities [Member] | ||
Assets: | ||
Marketable equity securities | 18,022 | 29,968 |
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 2 [Member] | ||
Assets: | ||
Loans held for sale | 4,627 | 14,862 |
Gross derivative asset | 63,614 | 44,153 |
Total assets prior to derivative netting | 215,278 | 256,968 |
Liabilities: | ||
Total derivative liabilities (gross) | (54,797) | (37,510) |
Short-sale and other trading liabilities | (5,936) | (5,249) |
Total liabilities prior to derivative netting | (60,733) | (42,759) |
Fair value, recurring [Member] | Fair value, inputs, level 2 [Member] | Residential mortgage [Member] | ||
Assets: | ||
Mortgage servicing rights | 0 | 0 |
Fair value, recurring [Member] | Fair value, inputs, level 2 [Member] | Interest rate contracts [Member] | ||
Assets: | ||
Gross derivative asset | 30,489 | 22,296 |
Liabilities: | ||
Total derivative liabilities (gross) | (29,820) | (17,712) |
Fair value, recurring [Member] | Fair value, inputs, level 2 [Member] | Commodity contracts [Member] | ||
Assets: | ||
Gross derivative asset | 12,546 | 5,902 |
Liabilities: | ||
Total derivative liabilities (gross) | (5,467) | (2,351) |
Fair value, recurring [Member] | Fair value, inputs, level 2 [Member] | Equity contracts [Member] | ||
Assets: | ||
Gross derivative asset | 7,503 | 9,350 |
Liabilities: | ||
Total derivative liabilities (gross) | (4,663) | (10,753) |
Fair value, recurring [Member] | Fair value, inputs, level 2 [Member] | Foreign exchange contracts [Member] | ||
Assets: | ||
Gross derivative asset | 13,025 | 6,573 |
Liabilities: | ||
Total derivative liabilities (gross) | (14,812) | (6,654) |
Fair value, recurring [Member] | Fair value, inputs, level 2 [Member] | Credit contracts [Member] | ||
Assets: | ||
Gross derivative asset | 51 | 32 |
Liabilities: | ||
Total derivative liabilities (gross) | (35) | (40) |
Fair value, recurring [Member] | Fair value, inputs, level 2 [Member] | Debt securities [Member] | ||
Assets: | ||
Trading debt securities | 58,287 | 60,417 |
Available-for-sale debt securities | 79,150 | 137,397 |
Fair value, recurring [Member] | Fair value, inputs, level 2 [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Assets: | ||
Trading debt securities | 4,553 | 2,249 |
Available-for-sale debt securities | 0 | 0 |
Fair value, recurring [Member] | Fair value, inputs, level 2 [Member] | Collateralized loan obligations [Member] | ||
Assets: | ||
Trading debt securities | 598 | 655 |
Available-for-sale debt securities | 4,409 | 5,708 |
Fair value, recurring [Member] | Fair value, inputs, level 2 [Member] | Corporate debt securities [Member] | ||
Assets: | ||
Trading debt securities | 10,364 | 9,987 |
Fair value, recurring [Member] | Fair value, inputs, level 2 [Member] | Non-U.S. government securities [Member] | ||
Assets: | ||
Available-for-sale debt securities | 166 | 71 |
Fair value, recurring [Member] | Fair value, inputs, level 2 [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Assets: | ||
Available-for-sale debt securities | 11,998 | 16,832 |
Fair value, recurring [Member] | Fair value, inputs, level 2 [Member] | Federal agency mortgage-backed securities [Member] | ||
Assets: | ||
Trading debt securities | 32,612 | 40,350 |
Available-for-sale debt securities | 56,195 | 105,886 |
Fair value, recurring [Member] | Fair value, inputs, level 2 [Member] | Non-agency mortgage-backed securities [Member] | ||
Assets: | ||
Trading debt securities | 1,256 | 1,531 |
Available-for-sale debt securities | 3,804 | 4,522 |
Fair value, recurring [Member] | Fair value, inputs, level 2 [Member] | Other debt securities [Member] | ||
Assets: | ||
Trading debt securities | 8,904 | 5,645 |
Available-for-sale debt securities | 2,578 | 4,378 |
Fair value, recurring [Member] | Fair value, inputs, level 2 [Member] | Equity securities [Member] | ||
Assets: | ||
Equity securities | 9,600 | 139 |
Fair value, recurring [Member] | Fair value, inputs, level 2 [Member] | Marketable equity securities [Member] | ||
Assets: | ||
Marketable equity securities | 236 | 82 |
Fair value, recurring [Member] | Fair value, inputs, level 2 [Member] | Nonmarketable equity securities [Member] | ||
Assets: | ||
Nonmarketable equity securities | 9,364 | 57 |
Fair value, recurring [Member] | Fair value, inputs, level 3 [Member] | ||
Assets: | ||
Loans held for sale | 1,072 | 1,033 |
Gross derivative asset | 1,737 | 2,293 |
Total assets prior to derivative netting | 12,339 | 19,583 |
Liabilities: | ||
Total derivative liabilities (gross) | (3,674) | (2,590) |
Short-sale and other trading liabilities | 0 | 0 |
Total liabilities prior to derivative netting | (3,674) | (2,590) |
Fair value, recurring [Member] | Fair value, inputs, level 3 [Member] | Residential mortgage [Member] | ||
Assets: | ||
Mortgage servicing rights | 9,163 | 6,920 |
Fair value, recurring [Member] | Fair value, inputs, level 3 [Member] | Interest rate contracts [Member] | ||
Assets: | ||
Gross derivative asset | 194 | 190 |
Liabilities: | ||
Total derivative liabilities (gross) | (765) | (63) |
Fair value, recurring [Member] | Fair value, inputs, level 3 [Member] | Commodity contracts [Member] | ||
Assets: | ||
Gross derivative asset | 385 | 63 |
Liabilities: | ||
Total derivative liabilities (gross) | (293) | (66) |
Fair value, recurring [Member] | Fair value, inputs, level 3 [Member] | Equity contracts [Member] | ||
Assets: | ||
Gross derivative asset | 1,090 | 2,019 |
Liabilities: | ||
Total derivative liabilities (gross) | (2,593) | (2,448) |
Fair value, recurring [Member] | Fair value, inputs, level 3 [Member] | Foreign exchange contracts [Member] | ||
Assets: | ||
Gross derivative asset | 50 | 7 |
Liabilities: | ||
Total derivative liabilities (gross) | (20) | (10) |
Fair value, recurring [Member] | Fair value, inputs, level 3 [Member] | Credit contracts [Member] | ||
Assets: | ||
Gross derivative asset | 18 | 14 |
Liabilities: | ||
Total derivative liabilities (gross) | (3) | (3) |
Fair value, recurring [Member] | Fair value, inputs, level 3 [Member] | Debt securities [Member] | ||
Assets: | ||
Trading debt securities | 169 | 241 |
Available-for-sale debt securities | 167 | 186 |
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 debt securities | 0 | 0 |
Fair value, recurring [Member] | Fair value, inputs, level 3 [Member] | Collateralized loan obligations [Member] | ||
Assets: | ||
Trading debt securities | 149 | 211 |
Available-for-sale debt securities | 0 | 0 |
Fair value, recurring [Member] | Fair value, inputs, level 3 [Member] | Corporate debt securities [Member] | ||
Assets: | ||
Trading debt securities | 17 | 18 |
Fair value, recurring [Member] | Fair value, inputs, level 3 [Member] | Non-U.S. government securities [Member] | ||
Assets: | ||
Available-for-sale debt securities | 0 | 0 |
Fair value, recurring [Member] | Fair value, inputs, level 3 [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Assets: | ||
Available-for-sale debt securities | 78 | 85 |
Fair value, recurring [Member] | Fair value, inputs, level 3 [Member] | Federal agency mortgage-backed securities [Member] | ||
Assets: | ||
Trading debt securities | 3 | 0 |
Available-for-sale debt securities | 0 | 0 |
Fair value, recurring [Member] | Fair value, inputs, level 3 [Member] | Non-agency mortgage-backed securities [Member] | ||
Assets: | ||
Trading debt securities | 0 | 11 |
Available-for-sale debt securities | 0 | 10 |
Fair value, recurring [Member] | Fair value, inputs, level 3 [Member] | Other debt securities [Member] | ||
Assets: | ||
Trading debt securities | 0 | 1 |
Available-for-sale debt securities | 89 | 91 |
Fair value, recurring [Member] | Fair value, inputs, level 3 [Member] | Equity securities [Member] | ||
Assets: | ||
Equity securities | 31 | 8,910 |
Fair value, recurring [Member] | Fair value, inputs, level 3 [Member] | Marketable equity securities [Member] | ||
Assets: | ||
Marketable equity securities | 7 | 4 |
Fair value, recurring [Member] | Fair value, inputs, level 3 [Member] | Nonmarketable equity securities [Member] | ||
Assets: | ||
Nonmarketable equity securities | $ 24 | 8,906 |
Fair value, recurring [Member] | Fair value measured at net asset value per share [Member] | Nonmarketable equity securities [Member] | ||
Assets: | ||
Nonmarketable equity securities | $ 81 |
Fair Value, Assets and Liabil_2
Fair Value, Assets and Liabilities, Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Trading debt securities [Member] | |||||
Assets: | |||||
Balance, beginning of period | $ 201 | $ 241 | $ 192 | $ 241 | $ 173 |
Net gains (losses) | (22) | 4 | (37) | 20 | |
Purchases | 46 | 123 | 93 | 292 | |
Sales | (78) | (129) | (92) | (302) | |
Settlements | 29 | (5) | (6) | (5) | |
Transfers into Level 3 | 0 | 15 | 5 | 22 | |
Transfers out of Level 3 | (7) | (8) | (35) | (8) | |
Balance, end of period | 169 | 201 | 192 | 169 | 192 |
Net unrealized gains (losses) related to assets and liabilities held at period end | (28) | 1 | (40) | 5 | |
Available-for-sale debt securities [Member] | |||||
Assets: | |||||
Balance, beginning of period | 338 | 186 | 3,142 | 186 | 2,994 |
Net gains (losses) | (5) | 28 | (26) | 21 | |
Purchases | 2 | 9 | 54 | 24 | |
Sales | (25) | 0 | (25) | 0 | |
Settlements | (5) | (120) | (10) | (188) | |
Transfers into Level 3 | 0 | 11 | 126 | 253 | |
Transfers out of Level 3 | (138) | (265) | (138) | (299) | |
Balance, end of period | 167 | 338 | 2,805 | 167 | 2,805 |
Net unrealized gains (losses) related to assets and liabilities held at period end | (1) | 41 | (1) | 16 | |
Fair Value Disclosures, Textual [Abstract] | |||||
Total net gains (losses) included in other comprehensive income | (6) | 22 | (27) | 36 | |
Net unrealized gains (losses) related to assets and liabilities held at period end and included in other comprehensive income | 38 | 31 | |||
Loans held for sale [Member] | |||||
Assets: | |||||
Balance, beginning of period | 1,019 | 1,033 | 1,166 | 1,033 | 1,234 |
Net gains (losses) | (61) | 15 | (118) | (4) | |
Purchases | 116 | 131 | 179 | 260 | |
Sales | (27) | (231) | (70) | (379) | |
Settlements | (57) | (107) | (130) | (217) | |
Transfers into Level 3 | 84 | 97 | 186 | 178 | |
Transfers out of Level 3 | (2) | (2) | (8) | (3) | |
Balance, end of period | 1,072 | 1,019 | 1,069 | 1,072 | 1,069 |
Net unrealized gains (losses) related to assets and liabilities held at period end | (61) | 9 | (115) | (5) | |
Mortgage servicing rights [Member] | Residential mortgage [Member] | |||||
Assets: | |||||
Balance, beginning of period | 8,511 | 6,920 | 7,536 | 6,920 | 6,125 |
Net gains (losses) | 581 | (1,297) | 1,829 | (291) | |
Purchases | 322 | 485 | 664 | 891 | |
Sales | (251) | (7) | (250) | (8) | |
Settlements | 0 | 0 | 0 | 0 | |
Transfers into Level 3 | 0 | 0 | 0 | 0 | |
Transfers out of Level 3 | 0 | 0 | 0 | 0 | |
Balance, end of period | 9,163 | 8,511 | 6,717 | 9,163 | 6,717 |
Net unrealized gains (losses) related to assets and liabilities held at period end | 868 | (809) | 2,473 | 782 | |
Derivative [Member] | |||||
Assets and Liabilities: | |||||
Balance, beginning of period | (1,574) | (297) | (372) | (297) | 171 |
Net gains (losses) | (101) | 233 | (914) | (449) | |
Purchases | 0 | 2 | 0 | 2 | |
Sales | 0 | (1) | 0 | (1) | |
Settlements | 679 | 17 | 1,587 | 148 | |
Transfers into Level 3 | (901) | (10) | (981) | (37) | |
Transfers out of Level 3 | (40) | 55 | (1,332) | 90 | |
Balance, end of period | (1,937) | (1,574) | (76) | (1,937) | (76) |
Net unrealized gains (losses) related to assets and liabilities held at period end | 349 | 21 | 472 | (123) | |
Derivative [Member] | Interest rate contracts [Member] | |||||
Assets and Liabilities: | |||||
Balance, beginning of period | (176) | 127 | 1 | 127 | 446 |
Net gains (losses) | (381) | 458 | (959) | (83) | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | 0 | |
Settlements | 371 | (145) | 646 | (44) | |
Transfers into Level 3 | (385) | 0 | (385) | 0 | |
Transfers out of Level 3 | 0 | 0 | 0 | (5) | |
Balance, end of period | (571) | (176) | 314 | (571) | 314 |
Net unrealized gains (losses) related to assets and liabilities held at period end | (133) | 167 | (241) | 109 | |
Derivative [Member] | Equity contracts [Member] | |||||
Assets and Liabilities: | |||||
Balance, beginning of period | (1,425) | (429) | (429) | (429) | (314) |
Net gains (losses) | 192 | (158) | (21) | (326) | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | 0 | |
Settlements | 280 | 120 | 869 | 160 | |
Transfers into Level 3 | (516) | (10) | (596) | (37) | |
Transfers out of Level 3 | (34) | 52 | (1,326) | 92 | |
Balance, end of period | (1,503) | (1,425) | (425) | (1,503) | (425) |
Net unrealized gains (losses) related to assets and liabilities held at period end | 393 | (130) | 603 | (236) | |
Derivative [Member] | Equity contracts [Member] | Nonmarketable equity securities [Member] | |||||
Assets and Liabilities: | |||||
Transfers out of Level 3 | 1,400 | ||||
Derivative [Member] | Other contract [Member] | |||||
Assets and Liabilities: | |||||
Balance, beginning of period | 27 | 5 | 56 | 5 | 39 |
Net gains (losses) | 88 | (67) | 66 | (40) | |
Purchases | 0 | 2 | 0 | 2 | |
Sales | 0 | (1) | 0 | (1) | |
Settlements | 28 | 42 | 72 | 32 | |
Transfers into Level 3 | 0 | 0 | 0 | 0 | |
Transfers out of Level 3 | (6) | 3 | (6) | 3 | |
Balance, end of period | 137 | 27 | 35 | 137 | 35 |
Net unrealized gains (losses) related to assets and liabilities held at period end | 89 | (16) | 110 | 4 | |
Securities [Member] | Equity securities [Member] | |||||
Assets: | |||||
Balance, beginning of period | 26 | 8,910 | 8,865 | 8,910 | 9,233 |
Net gains (losses) | 5 | 794 | 4 | 429 | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | (2) | 0 | (2) | (5) | |
Settlements | 0 | 0 | 0 | 0 | |
Transfers into Level 3 | 3 | 1 | 5 | 3 | |
Transfers out of Level 3 | (1) | 0 | (8,886) | 0 | |
Balance, end of period | 31 | 26 | 9,660 | 31 | 9,660 |
Net unrealized gains (losses) related to assets and liabilities held at period end | $ 5 | $ 794 | $ 4 | $ 429 | |
Securities [Member] | Equity contracts [Member] | Nonmarketable equity securities [Member] | |||||
Assets and Liabilities: | |||||
Transfers out of Level 3 | $ 8,900 |
Fair Value, Assets and Liabil_3
Fair Value, Assets and Liabilities, Valuation Techniques - Recurring Basis (Details) - Fair value, recurring [Member] $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 USD ($) $ / loan | Dec. 31, 2021 USD ($) $ / loan | |
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Loans held for sale | $ 5,699 | $ 15,895 |
Fair Value Disclosures, Textual [Abstract] | ||
Total assets prior to derivative netting | 327,700 | 380,249 |
Total liabilities prior to derivative netting | (84,663) | (66,641) |
Nonmarketable equity securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Nonmarketable equity securities | 9,388 | 8,963 |
Residential mortgage [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgage servicing rights | 9,163 | 6,920 |
Fair value, inputs, level 3 [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Loans held for sale | 1,072 | 1,033 |
Insignificant Level 3 assets, net of liabilities | 168 | 9 |
Assets, fair value disclosure, net of liabilities | 8,665 | 16,993 |
Fair Value Disclosures, Textual [Abstract] | ||
Total assets prior to derivative netting | 12,339 | 19,583 |
Total liabilities prior to derivative netting | (3,674) | (2,590) |
Fair value, inputs, level 3 [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Trading and available-for-sale debt securities | 126 | 136 |
Loans held for sale | 1,072 | 1,033 |
Fair value, inputs, level 3 [Member] | Valuation technique, vendor priced [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Trading and available-for-sale debt securities | $ 1 | $ 11 |
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] | ||
Trading and available-for-sale debt securities, measurement input | 0.015 | 0.004 |
Loans held for sale, measurement input | 0.017 | 0.016 |
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] | ||
Trading and available-for-sale debt securities, measurement input | 0.125 | 0.125 |
Loans held for sale, measurement input | 0.128 | 0.119 |
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] | ||
Trading and available-for-sale debt securities, measurement input | 0.060 | 0.055 |
Loans held for sale, measurement input | 0.069 | 0.051 |
Fair value, inputs, level 3 [Member] | Measurement input, market comparability adjustment [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Trading and available-for-sale debt securities | $ 169 | $ 280 |
Fair value, inputs, level 3 [Member] | Measurement input, market comparability adjustment [Member] | Minimum [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Trading and available-for-sale debt securities, measurement input | (0.233) | (0.302) |
Fair value, inputs, level 3 [Member] | Measurement input, market comparability adjustment [Member] | Maximum [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Trading and available-for-sale debt securities, measurement input | 0.799 | 0.192 |
Fair value, inputs, level 3 [Member] | Measurement input, market comparability adjustment [Member] | Weighted average [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Trading and available-for-sale debt securities, measurement input | 0.024 | (0.046) |
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] | ||
Loans held for sale, measurement input | 0 | 0 |
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] | ||
Loans held for sale, measurement input | 0.363 | 0.292 |
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] | ||
Loans held for sale, measurement input | 0.011 | 0.012 |
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] | ||
Loans held for sale, measurement input | 0 | 0 |
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] | ||
Loans held for sale, measurement input | 0.512 | 0.469 |
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] | ||
Loans held for sale, measurement input | 0.176 | 0.154 |
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] | ||
Loans held for sale, measurement input | 0.033 | 0.075 |
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] | ||
Loans held for sale, measurement input | 0.143 | 0.182 |
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] | ||
Loans held for sale, measurement input | 0.113 | 0.131 |
Fair value, inputs, level 3 [Member] | Measurement input, multiples [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Trading and available-for-sale debt securities | $ 40 | |
Fair value, inputs, level 3 [Member] | Measurement input, multiples [Member] | Minimum [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Trading and available-for-sale debt securities, measurement input | 1.2 | |
Fair value, inputs, level 3 [Member] | Measurement input, multiples [Member] | Maximum [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Trading and available-for-sale debt securities, measurement input | 7.4 | |
Fair value, inputs, level 3 [Member] | Measurement input, multiples [Member] | Weighted average [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Trading and available-for-sale debt securities, measurement input | 2.4 | |
Fair value, inputs, level 3 [Member] | Nonmarketable equity securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Nonmarketable equity securities | $ 24 | $ 8,906 |
Fair value, inputs, level 3 [Member] | Nonmarketable equity securities [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Nonmarketable equity securities | $ 8,906 | |
Fair value, inputs, level 3 [Member] | Nonmarketable equity securities [Member] | Measurement input, market comparability adjustment [Member] | Minimum [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Nonmarketable equity securities, measurement input | (0.216) | |
Fair value, inputs, level 3 [Member] | Nonmarketable equity securities [Member] | Measurement input, market comparability adjustment [Member] | Maximum [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Nonmarketable equity securities, measurement input | (0.077) | |
Fair value, inputs, level 3 [Member] | Nonmarketable equity securities [Member] | Measurement input, market comparability adjustment [Member] | Weighted average [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Nonmarketable equity securities, measurement input | (0.155) | |
Fair value, inputs, level 3 [Member] | Interest rate contracts [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Net derivative assets and (liabilities) | $ 87 | |
Fair value, inputs, level 3 [Member] | Interest rate contracts [Member] | Measurement input, discount rate [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Net derivative assets and (liabilities) | $ (416) | |
Fair value, inputs, level 3 [Member] | Interest rate contracts [Member] | Measurement input, discount 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 | 0.021 | |
Fair value, inputs, level 3 [Member] | Interest rate contracts [Member] | Measurement input, discount 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 | 0.030 | |
Fair value, inputs, level 3 [Member] | Interest rate contracts [Member] | Measurement input, discount 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 | 0.028 | |
Fair value, inputs, level 3 [Member] | Interest rate contracts [Member] | Measurement input, default rate [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Net derivative assets and (liabilities) | $ (26) | |
Fair value, inputs, level 3 [Member] | Interest rate contracts [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 | 0.004 | 0 |
Fair value, inputs, level 3 [Member] | Interest rate contracts [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 |
Fair value, inputs, level 3 [Member] | Interest rate contracts [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 | 0.023 | 0.021 |
Fair value, inputs, level 3 [Member] | Interest rate contracts [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 |
Fair value, inputs, level 3 [Member] | Interest rate contracts [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 |
Fair value, inputs, level 3 [Member] | Interest rate contracts [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 |
Fair value, inputs, level 3 [Member] | Interest rate contracts [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 |
Fair value, inputs, level 3 [Member] | Interest rate contracts [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 | 0.220 | 0.220 |
Fair value, inputs, level 3 [Member] | Interest rate contracts [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 | 0.187 | 0.187 |
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) | $ (129) | $ 40 |
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 |
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 |
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 | 0.220 | 0.168 |
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 | (0.0047) | (0.00748) |
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 | 0.01460 | 0.01460 |
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 | 0.00191 | 0.00509 |
Fair value, inputs, level 3 [Member] | Equity contracts [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Net derivative assets and (liabilities) | $ (1,054) | $ 253 |
Fair value, inputs, level 3 [Member] | Equity contracts [Member] | Valuation technique, option model [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Net derivative assets and (liabilities) | $ (449) | $ (682) |
Fair value, inputs, level 3 [Member] | Equity contracts [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 | 6 months |
Fair value, inputs, level 3 [Member] | Equity contracts [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 | 1 year 6 months | 2 years |
Fair value, inputs, level 3 [Member] | Equity contracts [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 | 1 year 1 month 6 days |
Fair value, inputs, level 3 [Member] | Equity contracts [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 | (0.133) | (0.102) |
Fair value, inputs, level 3 [Member] | Equity contracts [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 |
Fair value, inputs, level 3 [Member] | Equity contracts [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 | (0.105) | (0.097) |
Fair value, inputs, level 3 [Member] | Equity contracts [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) |
Fair value, inputs, level 3 [Member] | Equity contracts [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 |
Fair value, inputs, level 3 [Member] | Equity contracts [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 | 0.217 | 0.232 |
Fair value, inputs, level 3 [Member] | Equity contracts [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 | 0.065 | 0.065 |
Fair value, inputs, level 3 [Member] | Equity contracts [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 | 0.873 | 0.720 |
Fair value, inputs, level 3 [Member] | Equity contracts [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 | 0.284 | 0.291 |
Fair value, inputs, level 3 [Member] | Non modified loans [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 | 52 | 54 |
Fair value, inputs, level 3 [Member] | Non modified loans [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 | 186 | 199 |
Fair value, inputs, level 3 [Member] | Residential mortgage [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgage servicing rights | $ 9,163 | $ 6,920 |
Fair value, inputs, level 3 [Member] | Residential mortgage [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgage servicing rights | $ 9,163 | $ 6,920 |
Fair value, inputs, level 3 [Member] | Residential mortgage [Member] | Measurement input, discount rate [Member] | Minimum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage servicing rights, measurement input | 0.076 | 0.058 |
Fair value, inputs, level 3 [Member] | Residential mortgage [Member] | Measurement input, discount rate [Member] | Maximum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage servicing rights, measurement input | 0.107 | 0.088 |
Fair value, inputs, level 3 [Member] | Residential mortgage [Member] | Measurement input, discount rate [Member] | Weighted average [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage servicing rights, measurement input | 0.081 | 0.064 |
Fair value, inputs, level 3 [Member] | Residential mortgage [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 | 52 | 54 |
Fair value, inputs, level 3 [Member] | Residential mortgage [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 | 541 | 585 |
Fair value, inputs, level 3 [Member] | Residential mortgage [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 | 100 | 106 |
Fair value, inputs, level 3 [Member] | Residential mortgage [Member] | Measurement input, prepayment rate [Member] | Minimum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage servicing rights, measurement input | 0.090 | 0.125 |
Fair value, inputs, level 3 [Member] | Residential mortgage [Member] | Measurement input, prepayment rate [Member] | Maximum [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage servicing rights, measurement input | 0.194 | 0.211 |
Fair value, inputs, level 3 [Member] | Residential mortgage [Member] | Measurement input, prepayment rate [Member] | Weighted average [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage servicing rights, measurement input | 0.097 | 0.147 |
Fair Value, Assets and Liabil_4
Fair Value, Assets and Liabilities, Fair Value on a Nonrecurring Basis (Details) - Nonrecurring [Member] - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held for sale | $ 3,417 | $ 5,318 |
Loans | 508 | 856 |
Other assets | 1,859 | 1,548 |
Total assets at fair value on a nonrecurring basis | 10,500 | 15,316 |
Nonmarketable equity securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonmarketable equity securities | 4,641 | 7,027 |
Total Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 46 | 476 |
Mortgage servicing rights | 75 | 567 |
Total Consumer [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 462 | 380 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held for sale | 1,851 | 3,911 |
Loans | 508 | 856 |
Other assets | 1,749 | 1,373 |
Total assets at fair value on a nonrecurring basis | 5,317 | 12,402 |
Level 2 [Member] | Nonmarketable equity securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonmarketable equity securities | 1,209 | 6,262 |
Level 2 [Member] | Total Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 46 | 476 |
Mortgage servicing rights | 0 | 0 |
Level 2 [Member] | Total Consumer [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 462 | 380 |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held for sale | 1,566 | 1,407 |
Loans | 0 | 0 |
Other assets | 110 | 175 |
Total assets at fair value on a nonrecurring basis | 5,183 | 2,914 |
Level 3 [Member] | Nonmarketable equity securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonmarketable equity securities | 3,432 | 765 |
Level 3 [Member] | Total Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 0 | 0 |
Mortgage servicing rights | 75 | 567 |
Level 3 [Member] | Total Consumer [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | $ 0 | $ 0 |
Fair Value, Assets and Liabil_5
Fair Value, Assets and Liabilities, Gains (Losses) on Assets with Nonrecurring Fair Value Adjustment (Details) - Nonrecurring [Member] - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis Increase (Decrease) [Line Items] | ||
Loans held for sale | $ (66) | $ 38 |
Loans | (394) | (272) |
Nonmarketable equity securities | (95) | 2,215 |
Other assets | (176) | (56) |
Total | (727) | 1,956 |
Total Commercial [Member] | ||
Fair Value Assets And Liabilities Measured On Nonrecurring Basis Increase (Decrease) [Line Items] | ||
Loans | (36) | (182) |
Mortgage servicing rights | 4 | 31 |
Total Consumer [Member] | ||
Fair Value Assets And Liabilities Measured On Nonrecurring Basis Increase (Decrease) [Line Items] | ||
Loans | $ (358) | $ (90) |
Fair Value, Assets and Liabil_6
Fair Value, Assets and Liabilities, Valuation Techniques - Nonrecurring Basis (Details) - Nonrecurring [Member] $ in Millions | Jun. 30, 2022 USD ($) $ / loan | Dec. 31, 2021 USD ($) $ / loan |
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Loans held for sale | $ 3,417 | $ 5,318 |
Other assets | 1,859 | 1,548 |
Total assets at fair value on a nonrecurring basis | 10,500 | 15,316 |
Nonmarketable equity securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Nonmarketable equity securities | 4,641 | 7,027 |
Fair value, inputs, level 3 [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Loans held for sale | 1,566 | 1,407 |
Other assets | 110 | 175 |
Total insignificant level 3 assets | 16 | |
Total assets at fair value on a nonrecurring basis | 5,183 | 2,914 |
Fair value, inputs, level 3 [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Loans held for sale | 1,566 | 1,407 |
Other assets | 175 | |
Fair value, inputs, level 3 [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Other assets | 102 | |
Fair value, inputs, level 3 [Member] | Commercial [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgage servicing rights | 75 | 567 |
Fair value, inputs, level 3 [Member] | Residential [Member] | Non-government insured/guaranteed [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Loans held for sale | 200 | 200 |
Fair value, inputs, level 3 [Member] | Residential [Member] | Government insured or guaranteed [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Loans held for sale | $ 1,400 | $ 1,200 |
Fair value, inputs, level 3 [Member] | Measurement input, default rate [Member] | Valuation technique, discounted cash flow [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Loans held for sale, measurement input | 0.002 | 0.002 |
Fair value, inputs, level 3 [Member] | Measurement input, default rate [Member] | Valuation technique, discounted cash flow [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Loans held for sale, measurement input | 0.856 | 0.783 |
Fair value, inputs, level 3 [Member] | Measurement input, default rate [Member] | Valuation technique, discounted cash flow [Member] | Weighted average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Loans held for sale, measurement input | 0.188 | 0.256 |
Fair value, inputs, level 3 [Member] | Measurement input, discount rate [Member] | Valuation technique, discounted cash flow [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Loans held for sale, measurement input | 0.006 | 0.006 |
Other assets, measurement input | 0.002 | |
Fair value, inputs, level 3 [Member] | Measurement input, discount rate [Member] | Valuation technique, discounted cash flow [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Loans held for sale, measurement input | 0.128 | 0.120 |
Other assets, measurement input | 0.044 | |
Fair value, inputs, level 3 [Member] | Measurement input, discount rate [Member] | Valuation technique, discounted cash flow [Member] | Weighted average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Loans held for sale, measurement input | 0.039 | 0.033 |
Other assets, measurement input | 0.029 | |
Fair value, inputs, level 3 [Member] | Measurement input, discount rate [Member] | Commercial [Member] | Valuation technique, discounted cash flow [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage servicing rights, measurement input | 0.052 | 0.040 |
Fair value, inputs, level 3 [Member] | Measurement input, discount rate [Member] | Commercial [Member] | Valuation technique, discounted cash flow [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage servicing rights, measurement input | 0.052 | 0.045 |
Fair value, inputs, level 3 [Member] | Measurement input, discount rate [Member] | Commercial [Member] | Valuation technique, discounted cash flow [Member] | Weighted average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage servicing rights, measurement input | 0.052 | 0.040 |
Fair value, inputs, level 3 [Member] | Measurement input, loss severity [Member] | Valuation technique, discounted cash flow [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Loans held for sale, measurement input | 0.003 | 0.004 |
Fair value, inputs, level 3 [Member] | Measurement input, loss severity [Member] | Valuation technique, discounted cash flow [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Loans held for sale, measurement input | 0.438 | 0.456 |
Fair value, inputs, level 3 [Member] | Measurement input, loss severity [Member] | Valuation technique, discounted cash flow [Member] | Weighted average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Loans held for sale, measurement input | 0.038 | 0.048 |
Fair value, inputs, level 3 [Member] | Measurement input, prepayment rate [Member] | Valuation technique, discounted cash flow [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Loans held for sale, measurement input | 0.039 | 0.054 |
Fair value, inputs, level 3 [Member] | Measurement input, prepayment rate [Member] | Valuation technique, discounted cash flow [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Loans held for sale, measurement input | 1 | 1 |
Fair value, inputs, level 3 [Member] | Measurement input, prepayment rate [Member] | Valuation technique, discounted cash flow [Member] | Weighted average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Loans held for sale, measurement input | 0.359 | 0.389 |
Fair value, inputs, level 3 [Member] | Measurement input, prepayment rate [Member] | Commercial [Member] | Valuation technique, discounted cash flow [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage servicing rights, measurement input | 0 | 0 |
Fair value, inputs, level 3 [Member] | Measurement input, prepayment rate [Member] | Commercial [Member] | Valuation technique, discounted cash flow [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage servicing rights, measurement input | 0.206 | 0.206 |
Fair value, inputs, level 3 [Member] | Measurement input, prepayment rate [Member] | Commercial [Member] | Valuation technique, discounted cash flow [Member] | Weighted average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage servicing rights, measurement input | 0.067 | 0.055 |
Fair value, inputs, level 3 [Member] | Measurement input, cost to service per loan [Member] | Commercial [Member] | Valuation technique, discounted cash flow [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage servicing rights, measurement input | $ / loan | 3,775 | 150 |
Fair value, inputs, level 3 [Member] | Measurement input, cost to service per loan [Member] | Commercial [Member] | Valuation technique, discounted cash flow [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage servicing rights, measurement input | $ / loan | 3,775 | 3,381 |
Fair value, inputs, level 3 [Member] | Measurement input, cost to service per loan [Member] | Commercial [Member] | Valuation technique, discounted cash flow [Member] | Weighted average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage servicing rights, measurement input | $ / loan | 3,775 | 2,771 |
Fair value, inputs, level 3 [Member] | Measurement input, multiples [Member] | Valuation, market comparable pricing [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Other assets, measurement input | 8 | |
Fair value, inputs, level 3 [Member] | Measurement input, multiples [Member] | Valuation, market comparable pricing [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Other assets, measurement input | 8 | |
Fair value, inputs, level 3 [Member] | Measurement input, multiples [Member] | Valuation, market comparable pricing [Member] | Weighted average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Other assets, measurement input | 8 | |
Fair value, inputs, level 3 [Member] | Nonmarketable equity securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Nonmarketable equity securities | $ 3,432 | $ 765 |
Fair value, inputs, level 3 [Member] | Nonmarketable equity securities [Member] | Valuation technique, discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Nonmarketable equity securities | $ 5 | |
Fair value, inputs, level 3 [Member] | Nonmarketable equity securities [Member] | Measurement input, discount rate [Member] | Valuation technique, discounted cash flow [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Nonmarketable equity securities, measurement input | 0.105 | |
Fair value, inputs, level 3 [Member] | Nonmarketable equity securities [Member] | Measurement input, discount rate [Member] | Valuation technique, discounted cash flow [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Nonmarketable equity securities, measurement input | 0.105 | |
Fair value, inputs, level 3 [Member] | Nonmarketable equity securities [Member] | Measurement input, discount rate [Member] | Valuation technique, discounted cash flow [Member] | Weighted average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Nonmarketable equity securities, measurement input | 0.105 | |
Fair value, inputs, level 3 [Member] | Nonmarketable equity securities [Member] | Measurement input, multiples [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Nonmarketable equity securities | $ 1,270 | $ 15 |
Fair value, inputs, level 3 [Member] | Nonmarketable equity securities [Member] | Measurement input, multiples [Member] | Valuation, market comparable pricing [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Nonmarketable equity securities, measurement input | 2.6 | 2 |
Fair value, inputs, level 3 [Member] | Nonmarketable equity securities [Member] | Measurement input, multiples [Member] | Valuation, market comparable pricing [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Nonmarketable equity securities, measurement input | 24.2 | 3.3 |
Fair value, inputs, level 3 [Member] | Nonmarketable equity securities [Member] | Measurement input, multiples [Member] | Valuation, market comparable pricing [Member] | Weighted average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Nonmarketable equity securities, measurement input | 19.6 | 2.8 |
Fair value, inputs, level 3 [Member] | Nonmarketable equity securities [Member] | Measurement input, market comparability adjustment [Member] | Valuation, market comparable pricing [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Nonmarketable equity securities | $ 2,154 | $ 745 |
Fair value, inputs, level 3 [Member] | Nonmarketable equity securities [Member] | Measurement input, market comparability adjustment [Member] | Valuation, market comparable pricing [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Nonmarketable equity securities, measurement input | (1) | (1) |
Fair value, inputs, level 3 [Member] | Nonmarketable equity securities [Member] | Measurement input, market comparability adjustment [Member] | Valuation, market comparable pricing [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Nonmarketable equity securities, measurement input | (0.040) | (0.330) |
Fair value, inputs, level 3 [Member] | Nonmarketable equity securities [Member] | Measurement input, market comparability adjustment [Member] | Valuation, market comparable pricing [Member] | Weighted average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Nonmarketable equity securities, measurement input | (0.227) | (0.590) |
Fair Value, Assets and Liabil_7
Fair Value, Assets and Liabilities, Fair Value Option (Details) - Fair value option election [Member] - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Fair Value, Option, Quantitative Disclosures [Line Items] | |||||
Loans held for sale, carried at fair value | $ 5,699 | $ 5,699 | $ 15,895 | ||
Loans held for sale, Aggregate unpaid principal | 5,985 | 5,985 | 15,750 | ||
Loans held for sale, Fair value carrying amount less aggregate unpaid principal | (286) | (286) | $ 145 | ||
Loans held for sale [Member] | |||||
Fair Value Disclosures, Textual [Abstract] | |||||
Fair value option, changes in fair value, gain (loss) | $ (236) | $ 823 | $ (593) | $ 1,200 |
Fair Value, Assets and Liabil_8
Fair Value, Assets and Liabilities, Fair Value Estimates for Financial Instruments (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 |
Financial assets | |||
Cash and due from banks | $ 29,716 | $ 24,616 | |
Interest-earning deposits with banks | 125,424 | 209,614 | |
Federal funds sold and securities purchased under resale agreements | 55,546 | 66,223 | |
Held-to-maturity debt securities | 301,783 | 272,022 | |
Loans held for sale | 9,674 | 23,617 | |
Loans, net | 931,948 | 882,904 | |
Financial liabilities | |||
Deposits | 1,425,153 | 1,482,479 | $ 1,440,472 |
Short-term borrowings | 37,075 | 34,409 | |
Long-term debt | 150,291 | 160,689 | |
Carrying value [Member] | |||
Financial assets | |||
Cash and due from banks | 29,716 | 24,616 | |
Interest-earning deposits with banks | 125,424 | 209,614 | |
Federal funds sold and securities purchased under resale agreements | 55,546 | 66,223 | |
Held-to-maturity debt securities | 301,783 | 272,022 | |
Loans held for sale | 3,975 | 7,722 | |
Loans, net | 917,538 | 868,278 | |
Nonmarketable equity securities | 3,582 | 3,584 | |
Total financial assets | 1,437,564 | 1,452,059 | |
Financial liabilities | |||
Deposits | 25,776 | 30,012 | |
Short-term borrowings | 36,910 | 34,409 | |
Long-term debt | 149,913 | 160,660 | |
Total financial liabilities | 212,599 | 225,081 | |
Fair Value Disclosures, Textual [Abstract] | |||
Deposit liabilities with no defined or contractual maturity | 1,400,000 | 1,500,000 | |
Carrying value [Member] | Finance leases [Member] | |||
Financial liabilities | |||
Long-term debt | 25 | 26 | |
Carrying value [Member] | Commercial lease financing [Member] | |||
Financial assets | |||
Loans, net | 14,300 | 14,500 | |
Estimated fair value [Member] | |||
Financial assets | |||
Cash and due from banks | 29,716 | 24,616 | |
Interest-earning deposits with banks | 125,424 | 209,614 | |
Federal funds sold and securities purchased under resale agreements | 55,546 | 66,223 | |
Held-to-maturity debt securities | 272,044 | 272,386 | |
Loans held for sale | 4,038 | 7,929 | |
Loans, net | 895,443 | 883,963 | |
Nonmarketable equity securities | 3,644 | 3,646 | |
Total financial assets | 1,385,855 | 1,468,377 | |
Financial liabilities | |||
Deposits | 25,049 | 30,002 | |
Short-term borrowings | 36,910 | 34,409 | |
Long-term debt | 149,236 | 168,084 | |
Total financial liabilities | 211,195 | 232,495 | |
Fair Value Disclosures, Textual [Abstract] | |||
Loan commitments and standby, commercial and similar letters of credit | 1,200 | 1,400 | |
Estimated fair value [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Financial assets | |||
Cash and due from banks | 29,716 | 24,616 | |
Interest-earning deposits with banks | 124,779 | 209,452 | |
Federal funds sold and securities purchased under resale agreements | 0 | 0 | |
Held-to-maturity debt securities | 14,966 | 16,825 | |
Loans held for sale | 0 | 0 | |
Loans, net | 0 | 0 | |
Nonmarketable equity securities | 0 | 0 | |
Total financial assets | 169,461 | 250,893 | |
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 2 [Member] | |||
Financial assets | |||
Cash and due from banks | 0 | 0 | |
Interest-earning deposits with banks | 645 | 162 | |
Federal funds sold and securities purchased under resale agreements | 55,546 | 66,223 | |
Held-to-maturity debt securities | 254,357 | 252,717 | |
Loans held for sale | 2,263 | 6,300 | |
Loans, net | 60,386 | 63,404 | |
Nonmarketable equity securities | 0 | 0 | |
Total financial assets | 373,197 | 388,806 | |
Financial liabilities | |||
Deposits | 11,316 | 14,401 | |
Short-term borrowings | 36,910 | 34,409 | |
Long-term debt | 148,150 | 166,682 | |
Total financial liabilities | 196,376 | 215,492 | |
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 | 2,721 | 2,844 | |
Loans held for sale | 1,775 | 1,629 | |
Loans, net | 835,057 | 820,559 | |
Nonmarketable equity securities | 3,644 | 3,646 | |
Total financial assets | 843,197 | 828,678 | |
Financial liabilities | |||
Deposits | 13,733 | 15,601 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 1,086 | 1,402 | |
Total financial liabilities | $ 14,819 | $ 17,003 |
Preferred Stock (Details)
Preferred Stock (Details) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 USD ($) vote shares | Dec. 31, 2021 USD ($) shares | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Preferred stock, shares authorized and designated | 5,386,234 | 5,386,234 |
Preferred Stock, shares issued and outstanding | 5,323,866 | 5,323,875 |
Preferred stock, liquidation preference, value | $ | $ 20,825 | $ 20,825 |
Preferred stock, carrying value | $ | $ 20,057 | $ 20,057 |
ESOP, shares authorized and designated | 609,434 | 609,434 |
ESOP, shares issued and outstanding | 609,434 | 609,434 |
ESOP, liquidation preference value | $ | $ 609 | $ 609 |
ESOP, carrying value | $ | $ 609 | $ 609 |
Detail of Preferred Stock [Abstract] | ||
Voting rights | If issued, preference shares would be limited to one vote per share | |
Preferred stock, no voting rights [Member] | ||
Detail of Preferred Stock [Abstract] | ||
Preferred shares authorized | 20,000,000 | |
Preferred stock, par or stated value | $ | $ 0 | |
Preferred stock, voting rights [Member] | ||
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Preferred Stock, shares issued and outstanding | 0 | |
Detail of Preferred Stock [Abstract] | ||
Preferred shares authorized | 4,000,000 | |
Number of votes per share | vote | 1 | |
Preferred stock, par or stated value | $ | $ 0 | |
Dividend Equalization Preferred Shares (DEP) [Member] | ||
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Preferred stock, shares authorized and designated | 97,000 | 97,000 |
Preferred Stock, shares issued and outstanding | 96,546 | 96,546 |
Preferred stock, liquidation preference, value | $ | $ 0 | $ 0 |
Preferred stock, carrying value | $ | $ 0 | $ 0 |
Series L - 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock [Member] | ||
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Preferred stock, shares authorized and designated | 4,025,000 | 4,025,000 |
Preferred Stock, shares issued and outstanding | 3,967,986 | 3,967,995 |
Preferred stock, liquidation preference, value | $ | $ 3,968 | $ 3,968 |
Preferred stock, carrying value | $ | $ 3,200 | $ 3,200 |
Preferred stock, dividend rate (percent) | 7.50% | 7.50% |
Detail of Preferred Stock [Abstract] | ||
Number of common stock shares per preferred share | 6.3814 | 6.3814 |
Series Q - 5.85% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Preferred stock, shares authorized and designated | 69,000 | 69,000 |
Preferred Stock, shares issued and outstanding | 69,000 | 69,000 |
Preferred stock, liquidation preference, value | $ | $ 1,725 | $ 1,725 |
Preferred stock, carrying value | $ | $ 1,725 | $ 1,725 |
Preferred stock, dividend rate (percent) | 5.85% | 5.85% |
Series R - 6.625% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Preferred stock, shares authorized and designated | 34,500 | 34,500 |
Preferred Stock, shares issued and outstanding | 33,600 | 33,600 |
Preferred stock, liquidation preference, value | $ | $ 840 | $ 840 |
Preferred stock, carrying value | $ | $ 840 | $ 840 |
Preferred stock, dividend rate (percent) | 6.625% | 6.625% |
Series S - 5.900% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Preferred stock, shares authorized and designated | 80,000 | 80,000 |
Preferred Stock, shares issued and outstanding | 80,000 | 80,000 |
Preferred stock, liquidation preference, value | $ | $ 2,000 | $ 2,000 |
Preferred stock, carrying value | $ | $ 2,000 | $ 2,000 |
Preferred stock, dividend rate (percent) | 5.90% | 5.90% |
Series U - 5.875% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Preferred stock, shares authorized and designated | 80,000 | 80,000 |
Preferred Stock, shares issued and outstanding | 80,000 | 80,000 |
Preferred stock, liquidation preference, value | $ | $ 2,000 | $ 2,000 |
Preferred stock, carrying value | $ | $ 2,000 | $ 2,000 |
Preferred stock, dividend rate (percent) | 5.875% | 5.875% |
Series Y - 5.625% Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Preferred stock, shares authorized and designated | 27,600 | 27,600 |
Preferred Stock, shares issued and outstanding | 27,600 | 27,600 |
Preferred stock, liquidation preference, value | $ | $ 690 | $ 690 |
Preferred stock, carrying value | $ | $ 690 | $ 690 |
Preferred stock, dividend rate (percent) | 5.625% | 5.625% |
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, shares authorized and designated | 80,500 | 80,500 |
Preferred Stock, shares issued and outstanding | 80,500 | 80,500 |
Preferred stock, liquidation preference, value | $ | $ 2,013 | $ 2,013 |
Preferred stock, carrying value | $ | $ 2,013 | $ 2,013 |
Preferred stock, dividend rate (percent) | 4.75% | 4.75% |
Series AA - 4.70% Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Preferred stock, shares authorized and designated | 46,800 | 46,800 |
Preferred Stock, shares issued and outstanding | 46,800 | 46,800 |
Preferred stock, liquidation preference, value | $ | $ 1,170 | $ 1,170 |
Preferred stock, carrying value | $ | $ 1,170 | $ 1,170 |
Preferred stock, dividend rate (percent) | 4.70% | 4.70% |
Series BB - 3.90% Fixed-Reset Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Preferred stock, shares authorized and designated | 140,400 | 140,400 |
Preferred Stock, shares issued and outstanding | 140,400 | 140,400 |
Preferred stock, liquidation preference, value | $ | $ 3,510 | $ 3,510 |
Preferred stock, carrying value | $ | $ 3,510 | $ 3,510 |
Preferred stock, dividend rate (percent) | 3.90% | 3.90% |
Series CC - 4.375% Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Preferred stock, shares authorized and designated | 46,000 | 46,000 |
Preferred Stock, shares issued and outstanding | 42,000 | 42,000 |
Preferred stock, liquidation preference, value | $ | $ 1,050 | $ 1,050 |
Preferred stock, carrying value | $ | $ 1,050 | $ 1,050 |
Preferred stock, dividend rate (percent) | 4.375% | 4.375% |
Series DD - 4.25% Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Preferred stock, shares authorized and designated | 50,000 | 50,000 |
Preferred Stock, shares issued and outstanding | 50,000 | 50,000 |
Preferred stock, liquidation preference, value | $ | $ 1,250 | $ 1,250 |
Preferred stock, carrying value | $ | $ 1,250 | $ 1,250 |
Preferred stock, dividend rate (percent) | 4.25% | 4.25% |
ESOP Preferred Stock (Details)
ESOP Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Class of Stock [Line Items] | ||
Additional paid-in capital included related to ESOP preferred stock | $ 37 | $ 37 |
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 609,434 | 609,434 |
Carrying value | $ 609 | $ 609 |
Unearned ESOP shares | $ (646) | $ (646) |
Employee Stock Ownership Plan Preferred Stock 2018 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 189,225 | 189,225 |
Carrying value | $ 189 | $ 189 |
Employee Stock Ownership Plan Preferred Stock 2018 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 7% | 7% |
Employee Stock Ownership Plan Preferred Stock 2018 [Member] | Maximum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 8% | 8% |
Employee Stock Ownership Plan Preferred Stock 2017 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 135,135 | 135,135 |
Carrying value | $ 135 | $ 135 |
Employee Stock Ownership Plan Preferred Stock 2017 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 7% | 7% |
Employee Stock Ownership Plan Preferred Stock 2017 [Member] | Maximum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 8% | 8% |
Employee Stock Ownership Plan Preferred Stock 2016 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 128,380 | 128,380 |
Carrying value | $ 128 | $ 128 |
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 | 68,106 | 68,106 |
Carrying value | $ 68 | $ 68 |
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 | 62,420 | 62,420 |
Carrying value | $ 63 | $ 63 |
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 | 26,168 | 26,168 |
Carrying value | $ 26 | $ 26 |
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% |
Equity award [Member] | Convertible preferred stock [Member] | Minimum [Member] | ||
Class of Stock [Line Items] | ||
Preferred stock, redemption price per share | $ 1,000 | $ 1,000 |
Revenue from Contracts with C_3
Revenue from Contracts with Customers, Revenue by Operating Segment (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Net interest Income | $ 10,198 | $ 8,800 | $ 19,419 | $ 17,608 |
Lending-related fees | 353 | 362 | 695 | 723 |
Other card fees | 118 | 120 | 245 | 235 |
Total card fees | 1,112 | 1,077 | 2,141 | 2,026 |
Mortgage banking | 287 | 1,336 | 980 | 2,662 |
Net gains (losses) from trading activities | 446 | 21 | 664 | 369 |
Net gains (losses) from debt securities | 143 | 0 | 145 | 151 |
Net gains (losses) from equity securities | (615) | 2,696 | (39) | 3,088 |
Lease income | 333 | 313 | 660 | 628 |
Other | 221 | 379 | 450 | 1,046 |
Total noninterest income | 6,830 | 11,470 | 15,201 | 21,194 |
Total revenue | 17,028 | 20,270 | 34,620 | 38,802 |
Deposit-related fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 1,376 | 1,342 | 2,849 | 2,597 |
Investment advisory and other asset-based fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 2,346 | 2,794 | 4,844 | 5,550 |
Trailing commissions [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 245 | 300 | 516 | 598 |
Commissions and brokerage services fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 542 | 580 | 1,079 | 1,216 |
Investment banking fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 286 | 570 | 733 | 1,138 |
Card interchange and network revenue [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 994 | 957 | 1,896 | 1,791 |
Credit card rewards and rebates [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Other cost of revenue | 552 | 373 | 1,000 | 683 |
Corporate [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Net interest Income | (619) | (304) | (1,437) | (694) |
Lending-related fees | 0 | (1) | 0 | (1) |
Other card fees | 0 | (1) | 0 | 0 |
Total card fees | 0 | (1) | 0 | 0 |
Mortgage banking | 0 | 0 | 0 | 0 |
Net gains (losses) from trading activities | 57 | (14) | 46 | (6) |
Net gains (losses) from debt securities | 138 | 0 | 140 | 151 |
Net gains (losses) from equity securities | (537) | 2,612 | (33) | 2,882 |
Lease income | 143 | 140 | 289 | 280 |
Other | 119 | 209 | 305 | 678 |
Total noninterest income | (114) | 3,327 | 692 | 4,744 |
Total revenue | (733) | 3,023 | (745) | 4,050 |
Corporate [Member] | Deposit-related fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 0 | 1 | 0 | 5 |
Corporate [Member] | Investment advisory and other asset-based fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 0 | 398 | 8 | 821 |
Corporate [Member] | Commissions and brokerage services fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 0 | (1) | 0 | (1) |
Corporate [Member] | Investment banking fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | (34) | (16) | (63) | (65) |
Corporate [Member] | Card interchange and network revenue [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 0 | 0 | 0 | 0 |
Reconciling Items [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Net interest Income | (108) | (109) | (215) | (216) |
Lending-related fees | 0 | 0 | 0 | 0 |
Other card fees | 0 | 0 | 0 | 0 |
Total card fees | 0 | 0 | 0 | 0 |
Mortgage banking | 0 | 0 | 0 | 0 |
Net gains (losses) from trading activities | 0 | 0 | 0 | 0 |
Net gains (losses) from debt securities | 0 | 0 | 0 | 0 |
Net gains (losses) from equity securities | 0 | 0 | 0 | 0 |
Lease income | 0 | 0 | 0 | 0 |
Other | (408) | (312) | (814) | (583) |
Total noninterest income | (408) | (312) | (814) | (583) |
Total revenue | (516) | (421) | (1,029) | (799) |
Reconciling Items [Member] | Deposit-related fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 0 | 0 | 0 | 0 |
Reconciling Items [Member] | Investment advisory and other asset-based fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 0 | 0 | 0 | 0 |
Reconciling Items [Member] | Commissions and brokerage services fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 0 | 0 | 0 | 0 |
Reconciling Items [Member] | Investment banking fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 0 | 0 | 0 | 0 |
Reconciling Items [Member] | Card interchange and network revenue [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 0 | 0 | 0 | 0 |
Consumer Banking and Lending [Member] | Operating Segments [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Net interest Income | 6,372 | 5,618 | 12,368 | 11,233 |
Lending-related fees | 34 | 36 | 68 | 76 |
Other card fees | 118 | 121 | 245 | 235 |
Total card fees | 1,038 | 1,017 | 1,999 | 1,909 |
Mortgage banking | 211 | 1,158 | 865 | 2,417 |
Net gains (losses) from trading activities | 0 | 0 | 0 | 1 |
Net gains (losses) from debt securities | 0 | 0 | 0 | 0 |
Net gains (losses) from equity securities | (8) | 0 | (17) | 34 |
Lease income | 0 | 0 | 0 | 0 |
Other | 83 | 127 | 166 | 285 |
Total noninterest income | 2,135 | 3,068 | 4,702 | 6,107 |
Total revenue | 8,507 | 8,686 | 17,070 | 17,340 |
Consumer Banking and Lending [Member] | Operating Segments [Member] | Deposit-related fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 779 | 732 | 1,624 | 1,393 |
Consumer Banking and Lending [Member] | Operating Segments [Member] | Investment advisory and other asset-based fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 0 | 0 | 0 | 0 |
Consumer Banking and Lending [Member] | Operating Segments [Member] | Commissions and brokerage services fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 0 | 0 | 0 | 0 |
Consumer Banking and Lending [Member] | Operating Segments [Member] | Investment banking fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | (2) | (2) | (3) | (8) |
Consumer Banking and Lending [Member] | Operating Segments [Member] | Card interchange and network revenue [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 920 | 896 | 1,754 | 1,674 |
Commercial Banking [Member] | Operating Segments [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Net interest Income | 1,580 | 1,202 | 2,941 | 2,456 |
Lending-related fees | 122 | 135 | 243 | 271 |
Other card fees | 0 | 0 | 0 | 0 |
Total card fees | 58 | 49 | 111 | 94 |
Mortgage banking | 0 | 0 | 0 | 0 |
Net gains (losses) from trading activities | 0 | (1) | 0 | 1 |
Net gains (losses) from debt securities | 5 | 0 | 5 | 0 |
Net gains (losses) from equity securities | (67) | 32 | 19 | 45 |
Lease income | 179 | 173 | 358 | 347 |
Other | 280 | 182 | 462 | 304 |
Total noninterest income | 912 | 906 | 1,878 | 1,733 |
Total revenue | 2,492 | 2,108 | 4,819 | 4,189 |
Commercial Banking [Member] | Operating Segments [Member] | Deposit-related fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 310 | 325 | 638 | 642 |
Commercial Banking [Member] | Operating Segments [Member] | Investment advisory and other asset-based fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 10 | 2 | 12 | 7 |
Commercial Banking [Member] | Operating Segments [Member] | Commissions and brokerage services fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 0 | 0 | 0 | 0 |
Commercial Banking [Member] | Operating Segments [Member] | Investment banking fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 15 | 9 | 30 | 22 |
Commercial Banking [Member] | Operating Segments [Member] | Card interchange and network revenue [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 58 | 49 | 111 | 94 |
Corporate and Investment Banking [Member] | Operating Segments [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Net interest Income | 2,057 | 1,783 | 4,047 | 3,562 |
Lending-related fees | 195 | 190 | 380 | 373 |
Other card fees | 0 | 0 | 0 | 0 |
Total card fees | 15 | 11 | 29 | 21 |
Mortgage banking | 79 | 181 | 121 | 251 |
Net gains (losses) from trading activities | 378 | 30 | 606 | 361 |
Net gains (losses) from debt securities | 0 | 0 | 0 | 0 |
Net gains (losses) from equity securities | (2) | 46 | (7) | 121 |
Lease income | 11 | 0 | 13 | 1 |
Other | 140 | 160 | 304 | 335 |
Total noninterest income | 1,516 | 1,555 | 2,996 | 3,380 |
Total revenue | 3,573 | 3,338 | 7,043 | 6,942 |
Corporate and Investment Banking [Member] | Operating Segments [Member] | Deposit-related fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 280 | 277 | 573 | 543 |
Corporate and Investment Banking [Member] | Operating Segments [Member] | Investment advisory and other asset-based fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 30 | 12 | 42 | 34 |
Corporate and Investment Banking [Member] | Operating Segments [Member] | Commissions and brokerage services fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 83 | 68 | 166 | 149 |
Corporate and Investment Banking [Member] | Operating Segments [Member] | Investment banking fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 307 | 580 | 769 | 1,191 |
Corporate and Investment Banking [Member] | Operating Segments [Member] | Card interchange and network revenue [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 15 | 11 | 29 | 21 |
Wealth and Investment Management [Member] | Operating Segments [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Net interest Income | 916 | 610 | 1,715 | 1,267 |
Lending-related fees | 2 | 2 | 4 | 4 |
Other card fees | 0 | 0 | 0 | 0 |
Total card fees | 1 | 1 | 2 | 2 |
Mortgage banking | (3) | (3) | (6) | (6) |
Net gains (losses) from trading activities | 11 | 6 | 12 | 12 |
Net gains (losses) from debt securities | 0 | 0 | 0 | 0 |
Net gains (losses) from equity securities | (1) | 6 | (1) | 6 |
Lease income | 0 | 0 | 0 | 0 |
Other | 7 | 13 | 27 | 27 |
Total noninterest income | 2,789 | 2,926 | 5,747 | 5,813 |
Total revenue | 3,705 | 3,536 | 7,462 | 7,080 |
Wealth and Investment Management [Member] | Operating Segments [Member] | Deposit-related fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 7 | 7 | 14 | 14 |
Wealth and Investment Management [Member] | Operating Segments [Member] | Investment advisory and other asset-based fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 2,306 | 2,382 | 4,782 | 4,688 |
Wealth and Investment Management [Member] | Operating Segments [Member] | Commissions and brokerage services fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 459 | 513 | 913 | 1,068 |
Wealth and Investment Management [Member] | Operating Segments [Member] | Investment banking fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 0 | (1) | 0 | (2) |
Wealth and Investment Management [Member] | Operating Segments [Member] | Card interchange and network revenue [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | $ 1 | $ 1 | $ 2 | $ 2 |
Employee Benefits and Other E_3
Employee Benefits and Other Expenses, Net Periodic Benefit Cost (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | 156 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | |
Employee Benefits and Other Expenses Textual [Abstract] | |||||
Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets | 5% | ||||
Net Periodic Benefit Cost, Discount Rate | 3.44% | ||||
Qualified Plan [Member] | |||||
Components of net periodic benefit cost [Abstract] | |||||
Service cost | $ 5 | $ 5 | $ 10 | $ 9 | |
Interest cost | 82 | 71 | 149 | 142 | |
Expected return on plan assets | (126) | (154) | (265) | (306) | |
Amortization of net actuarial loss (gain) | 33 | 38 | 66 | 75 | |
Amortization of prior service credit | 0 | 0 | 0 | 0 | |
Settlement loss | 62 | 62 | 109 | 62 | |
Net periodic benefit cost | 56 | 22 | 69 | (18) | |
Nonqualified Plan [Member] | |||||
Components of net periodic benefit cost [Abstract] | |||||
Service cost | 0 | 0 | 0 | 0 | |
Interest cost | 3 | 3 | 5 | 6 | |
Expected return on plan assets | 0 | 0 | 0 | 0 | |
Amortization of net actuarial loss (gain) | 3 | 3 | 6 | 7 | |
Amortization of prior service credit | 0 | 0 | 0 | 0 | |
Settlement loss | 0 | 0 | 1 | 2 | |
Net periodic benefit cost | 6 | 6 | 12 | 15 | |
Other benefits [Member] | |||||
Components of net periodic benefit cost [Abstract] | |||||
Service cost | 0 | 0 | 0 | 0 | |
Interest cost | 3 | 3 | 5 | 6 | |
Expected return on plan assets | (6) | (4) | (11) | (9) | |
Amortization of net actuarial loss (gain) | (6) | (5) | (11) | (10) | |
Amortization of prior service credit | (2) | (3) | (5) | (5) | |
Settlement loss | 0 | 0 | 0 | 0 | |
Net periodic benefit cost | (11) | (9) | (22) | (18) | |
Cash balance plan [Member] | |||||
Components of net periodic benefit cost [Abstract] | |||||
Net periodic benefit cost | $ 0 | ||||
Cash balance plan [Member] | Qualified Plan [Member] | |||||
Components of net periodic benefit cost [Abstract] | |||||
Settlement loss | $ 56 | $ 62 | $ 103 | $ 62 | |
Employee Benefits and Other Expenses Textual [Abstract] | |||||
Discount rate | 4.71% | 2.80% | 4.71% | 2.80% | 4.71% |
Defined Benefit Plan, Plan Assets, (Increase) Decrease for Remeasurement due to Settlement | $ (120) | $ 347 | $ (110) | $ 347 | |
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), before Tax | $ (64) | $ 409 | $ (7) | $ 409 |
Employee Benefits and Other E_4
Employee Benefits and Other Expenses, Other Expenses (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Other noninterest expense | $ 949 | $ 1,092 | $ 1,887 | $ 2,205 |
Regulatory charges and assessments expense, including FDIC assessment expense [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Other noninterest expense | $ 208 | $ 192 | $ 433 | $ 409 |
Restructuring Charges, Accruals
Restructuring Charges, Accruals for Restructuring Charges (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Restructuring Reserve [Roll Forward] | ||||
Accruals for restructuring charges, beginning balance | $ 471 | $ 1,054 | $ 565 | $ 1,214 |
Restructuring charges | 0 | 158 | 0 | 303 |
Changes in estimates | 0 | (162) | 5 | (294) |
Payments and utilization | (96) | (246) | (195) | (419) |
Accruals for restructuring charges, ending balance | $ 375 | $ 804 | $ 375 | $ 804 |
Earnings Per Common Share, Earn
Earnings Per Common Share, Earnings Per Common Share Calculations (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Earnings Per Common Share [Abstract] | ||||
Wells Fargo net income (loss) | $ 3,119 | $ 6,040 | $ 6,790 | $ 10,676 |
Less: Preferred stock dividends and other | 280 | 297 | 558 | 677 |
Wells Fargo net income applicable to common stock | $ 2,839 | $ 5,743 | $ 6,232 | $ 9,999 |
Earnings per common share | ||||
Average common shares outstanding (denominator) (in shares) | 3,793.8 | 4,124.6 | 3,812.3 | 4,132.9 |
Per share (in dollars per share) | $ 0.75 | $ 1.39 | $ 1.63 | $ 2.42 |
Diluted earnings per common share | ||||
Average common shares outstanding (in shares) | 3,793.8 | 4,124.6 | 3,812.3 | 4,132.9 |
Diluted average common shares outstanding (denominator) (in shares) | 3,819.6 | 4,156.1 | 3,845 | 4,164.6 |
Per share (in dollars per share) | $ 0.74 | $ 1.38 | $ 1.62 | $ 2.40 |
Preferred stock, accretion of redemption discount or issuance costs | $ 4 | $ 48 | ||
Restricted share rights [Member] | ||||
Diluted earnings per common share | ||||
Diluted average common shares outstanding, adjustment (in shares) | 25.8 | 31.5 | 32.7 | 31.7 |
Earnings Per Common Share, Outs
Earnings Per Common Share, Outstanding Anti-dilutive Securities (Details) - shares shares in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Restricted share rights [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive instruments | 0.2 | 0.2 | 0.2 | 0.1 |
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 | 25.3 |
Earnings Per Common Share, Divi
Earnings Per Common Share, Dividends Declared Per Common Shares (Details) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Earnings Per Share, Basic and Diluted, Other Disclosures [Abstract] | ||||
Dividends declared per common share (in dollars per share) | $ 0.25 | $ 0.10 | $ 0.50 | $ 0.20 |
Other Comprehensive Income, Sum
Other Comprehensive Income, Summary of Other Comprehensive Income (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Debt securities: | ||||
Net unrealized gains (losses) arising during the period, Before tax | $ (4,806) | $ 272 | $ (11,694) | $ (1,740) |
Net unrealized gains (losses) arising during the period, Tax effect | 1,183 | (68) | 2,880 | 432 |
Net unrealized gains (losses) arising during the period, Net of tax | (3,623) | 204 | (8,814) | (1,308) |
Reclassification of net (gains) losses to net income, Before tax | 4 | 132 | 62 | 118 |
Reclassification of net (gains) losses to net income, Tax effect | (1) | (32) | (16) | (31) |
Reclassification of net (gains) losses to net income, Net of tax | 3 | 100 | 46 | 87 |
Net change, Before tax | (4,802) | 404 | (11,632) | (1,622) |
Net change, Tax effect | 1,182 | (100) | 2,864 | 401 |
Net change, Net of tax | (3,620) | 304 | (8,768) | (1,221) |
Cash Flow Hedges: | ||||
Net change, Before tax | (111) | 37 | (84) | 84 |
Net change, Tax effect | 28 | (10) | 21 | (21) |
Net change, Net of tax | (83) | 27 | (63) | 63 |
Defined benefit plans adjustments: | ||||
Net actuarial and prior service gains (losses) arising during the period, Before tax | (120) | 347 | (101) | 357 |
Net actuarial and prior service gains (losses) arising during the period, Tax effect | 30 | (85) | 25 | (88) |
Net actuarial and prior service gains (losses) arising during the period, Net of tax | (90) | 262 | (76) | 269 |
Reclassification of amounts to noninterest expense, Before tax | 90 | 95 | 166 | 131 |
Reclassification of amounts to noninterest expense, Tax effect | (22) | (23) | (40) | (31) |
Reclassification of amounts to noninterest expense, Net of tax | 68 | 72 | 126 | 100 |
Net change, Before tax | (30) | 442 | 65 | 488 |
Net change, Tax effect | 8 | (108) | (15) | (119) |
Net change, Net of tax | (22) | 334 | 50 | 369 |
Debit valuation adjustment (DVA): | ||||
Net unrealized gains (losses) arising during period, Before tax | 10 | 0 | 6 | 0 |
Net unrealized gains (losses) arising during period, Tax effect | (3) | 0 | (2) | 0 |
Net unrealized gains (losses) arising during period, Net of tax | 7 | 0 | 4 | 0 |
Reclassification of net (gains) losses to net income, Before tax | 0 | 0 | 0 | 0 |
Reclassification of net (gains) losses to net income, Tax effect | 0 | 0 | 0 | 0 |
Reclassification of net (gains) losses to net income, Net of tax | 0 | 0 | 0 | 0 |
Net change, Before tax | 10 | 0 | 6 | 0 |
Net change, Tax effect | (3) | 0 | (2) | 0 |
Net change, net of tax | 7 | 0 | 4 | 0 |
Foreign currency translation adjustments: | ||||
Net unrealized gains (losses) arising during the period, Before tax | (121) | 23 | (127) | 36 |
Net unrealized gains (losses) arising during the period, Tax effect | (2) | (1) | (2) | (3) |
Net unrealized gains (losses) arising during the period, Net of tax | (123) | 22 | (129) | 33 |
Reclassification of net (gains) losses to net income, Before tax | 0 | 0 | 0 | 0 |
Reclassification of net (gains) losses to net income, Tax | 0 | 0 | 0 | 0 |
Reclassification of net (gains) losses to net income, Net of Tax | 0 | 0 | 0 | 0 |
Net change, Before tax | (121) | 23 | (127) | 36 |
Net change, Tax effect | (2) | (1) | (2) | (3) |
Net change, Net of tax | (123) | 22 | (129) | 33 |
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract] | ||||
Other comprehensive income (loss), Before tax | (5,054) | 906 | (11,772) | (1,014) |
Other comprehensive income (loss), Tax effect | 1,213 | (219) | 2,866 | 258 |
Other comprehensive income (loss), after tax | (3,841) | 687 | (8,906) | (756) |
Noncontrolling interests [Member] | ||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract] | ||||
Other comprehensive income (loss), after tax | 0 | 1 | 0 | 2 |
Total Wells Fargo stockholders' equity [Member] | ||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract] | ||||
Other comprehensive income (loss), after tax | (3,841) | 686 | (8,906) | (758) |
Fair value hedging [Member] | ||||
Fair Value Hedges: | ||||
Change in fair value of excluded components on fair value hedges, Before tax | 46 | (14) | 110 | 11 |
Change in fair value of excluded components on fair value hedges, Tax | (11) | 3 | (27) | (3) |
Change in fair value of excluded components on fair value hedges, Net of tax | 35 | (11) | 83 | 8 |
Cash flow hedging [Member] | ||||
Cash Flow Hedges: | ||||
Net unrealized gains (losses) arising during the period on cash flow hedges, Before Tax | (114) | 11 | (165) | (20) |
Net unrealized gains (losses) arising during the period on cash flow hedges, Tax | 28 | (3) | 41 | 5 |
Net unrealized gains (losses) arising during the period on cash flow hedges, Net of Tax | (86) | 8 | (124) | (15) |
Reclassification of net (gains) losses to net income on cash flow hedges, Before tax | (43) | 40 | (29) | 93 |
Reclassification of net (gains) losses to net income on cash flow hedges, Tax | 11 | (10) | 7 | (23) |
Reclassification of net (gains) losses to net income on cash flow hedges, Net of tax | $ (32) | $ 30 | $ (22) | $ 70 |
Other Comprehensive Income, Acc
Other Comprehensive Income, Accumulated OCI Balances (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Accumulative OCI balances [Abstract] | ||||
Balance, beginning of period | $ 181,689 | $ 188,034 | $ 190,110 | $ 185,712 |
Other comprehensive income (loss), after tax | (3,841) | 687 | (8,906) | (756) |
Balance, end of period | 179,793 | 193,127 | 179,793 | 193,127 |
Other Comprehensive Income Textual [Abstract] | ||||
Unrealized gain (loss) in AOCI, on available-for-sale debt securities transferred to held-to-maturity debt securities, after tax | 3,400 | 898 | 3,400 | 898 |
AOCI including portion attributable to noncontrolling interest [Member] | ||||
Accumulative OCI balances [Abstract] | ||||
Net unrealized gains (losses) arising during the period | (3,880) | 485 | (9,056) | (1,013) |
Amounts reclassified from accumulated other comprehensive income | 39 | 202 | 150 | 257 |
Other comprehensive income (loss), after tax | (3,841) | 687 | (8,906) | (756) |
Debt securities [Member] | ||||
Accumulative OCI balances [Abstract] | ||||
Net unrealized gains (losses) arising during the period | (3,623) | 204 | (8,814) | (1,308) |
Amounts reclassified from accumulated other comprehensive income | 3 | 100 | 46 | 87 |
Other comprehensive income (loss), after tax | (3,620) | 304 | (8,768) | (1,221) |
Fair value hedges [Member] | ||||
Accumulative OCI balances [Abstract] | ||||
Net unrealized gains (losses) arising during the period | 35 | (11) | 83 | 8 |
Amounts reclassified from accumulated other comprehensive income | 0 | 0 | 0 | 0 |
Other comprehensive income (loss), after tax | 35 | (11) | 83 | 8 |
Cash flow hedges [Member] | ||||
Accumulative OCI balances [Abstract] | ||||
Net unrealized gains (losses) arising during the period | (86) | 8 | (124) | (15) |
Amounts reclassified from accumulated other comprehensive income | (32) | 30 | (22) | 70 |
Other comprehensive income (loss), after tax | (118) | 38 | (146) | 55 |
Defined benefit plans adjustments [Member] | ||||
Accumulative OCI balances [Abstract] | ||||
Net unrealized gains (losses) arising during the period | (90) | 262 | (76) | 269 |
Amounts reclassified from accumulated other comprehensive income | 68 | 72 | 126 | 100 |
Other comprehensive income (loss), after tax | (22) | 334 | 50 | 369 |
Debit valuation adjustments (DVA) [Member] | ||||
Accumulative OCI balances [Abstract] | ||||
Net unrealized gains (losses) arising during the period | 7 | 0 | 4 | 0 |
Amounts reclassified from accumulated other comprehensive income | 0 | 0 | 0 | 0 |
Other comprehensive income (loss), after tax | 7 | 0 | 4 | 0 |
Foreign currency translation adjustments [Member] | ||||
Accumulative OCI balances [Abstract] | ||||
Net unrealized gains (losses) arising during the period | (123) | 22 | (129) | 33 |
Amounts reclassified from accumulated other comprehensive income | 0 | 0 | 0 | 0 |
Other comprehensive income (loss), after tax | (123) | 22 | (129) | 33 |
Total Wells Fargo stockholders' equity [Member] | ||||
Accumulative OCI balances [Abstract] | ||||
Other comprehensive income (loss), after tax | (3,841) | 686 | (8,906) | (758) |
Accumulative other comprehensive income, parent [Member] | ||||
Accumulative OCI balances [Abstract] | ||||
Balance, beginning of period | (6,767) | (1,250) | (1,702) | 194 |
Other comprehensive income (loss), after tax | (3,841) | 686 | (8,906) | (758) |
Balance, end of period | (10,608) | (564) | (10,608) | (564) |
Debt securities, parent [Member] | ||||
Accumulative OCI balances [Abstract] | ||||
Balance, beginning of period | (4,483) | 1,514 | 665 | 3,039 |
Balance, end of period | (8,103) | 1,817 | (8,103) | 1,817 |
Fair value hedges, parent [Member] | ||||
Accumulative OCI balances [Abstract] | ||||
Balance, beginning of period | (95) | (185) | (143) | (204) |
Balance, end of period | (60) | (196) | (60) | (196) |
Cash flow hedges, parent [Member] | ||||
Accumulative OCI balances [Abstract] | ||||
Balance, beginning of period | (55) | (108) | (27) | (125) |
Balance, end of period | (173) | (70) | (173) | (70) |
Defined benefit plans adjustments, parent [Member] | ||||
Accumulative OCI balances [Abstract] | ||||
Balance, beginning of period | (1,983) | (2,369) | (2,055) | (2,404) |
Balance, end of period | (2,005) | (2,035) | (2,005) | (2,035) |
Debit valuation adjustment (DVA), Attributable to Parent [Member] | ||||
Accumulative OCI balances [Abstract] | ||||
Balance, beginning of period | (3) | 0 | 0 | 0 |
Balance, end of period | 4 | 0 | 4 | 0 |
Foreign currency translation adjustments, parent [Member] | ||||
Accumulative OCI balances [Abstract] | ||||
Balance, beginning of period | (148) | (102) | (142) | (112) |
Balance, end of period | (271) | (80) | (271) | (80) |
Noncontrolling interests [Member] | ||||
Accumulative OCI balances [Abstract] | ||||
Balance, beginning of period | 2,446 | 1,130 | 2,504 | 1,032 |
Other comprehensive income (loss), after tax | 0 | 1 | 0 | 2 |
Balance, end of period | 2,261 | 1,865 | 2,261 | 1,865 |
Cumulative other comprehensive income, noncontrolling Interests [Member] | ||||
Accumulative OCI balances [Abstract] | ||||
Other comprehensive income (loss), after tax | 0 | 1 | 0 | 2 |
Debt securities, noncontrolling interest [Member] | ||||
Accumulative OCI balances [Abstract] | ||||
Other comprehensive income (loss), after tax | 0 | 1 | 0 | 1 |
Fair value hedges, noncontrolling interest [Member] | ||||
Accumulative OCI balances [Abstract] | ||||
Other comprehensive income (loss), after tax | 0 | 0 | 0 | 0 |
Cash flow hedges, noncontrolling interest [Member] | ||||
Accumulative OCI balances [Abstract] | ||||
Other comprehensive income (loss), after tax | 0 | 0 | 0 | 0 |
Defined benefit plans adjustments, noncontrolling interest [Member] | ||||
Accumulative OCI balances [Abstract] | ||||
Other comprehensive income (loss), after tax | 0 | 0 | 0 | 0 |
Debit valuation adjustment (DVA) [Member] | ||||
Accumulative OCI balances [Abstract] | ||||
Other comprehensive income (loss), after tax | 0 | 0 | 0 | 0 |
Foreign currency translation adjustments, noncontrolling interest [Member] | ||||
Accumulative OCI balances [Abstract] | ||||
Other comprehensive income (loss), after tax | $ 0 | $ 0 | $ 0 | $ 1 |
Operating Segments (Details)
Operating Segments (Details) $ in Millions | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) | ||||
Segment Reporting Information [Line Items] | ||||||||
Number of reportable operating segments | 4 | |||||||
Financial Information of Operating Segment [Abstract] | ||||||||
Net interest income | $ 10,198 | $ 8,800 | $ 19,419 | $ 17,608 | ||||
Noninterest Income | 6,830 | 11,470 | 15,201 | 21,194 | ||||
Total revenue | 17,028 | 20,270 | 34,620 | 38,802 | ||||
Provision for credit losses | 580 | (1,260) | (207) | (2,308) | ||||
Noninterest expense | 12,883 | 13,341 | 26,753 | 27,330 | ||||
Income before income tax expense | 3,565 | 8,189 | 8,074 | 13,780 | ||||
Income tax expense (benefit) | 613 | 1,445 | 1,320 | 2,346 | ||||
Net income before noncontrolling interests | 2,952 | 6,744 | 6,754 | 11,434 | ||||
Less: Net income (loss) from noncontrolling interests | (167) | 704 | (36) | 758 | ||||
Wells Fargo net income | 3,119 | 6,040 | 6,790 | 10,676 | ||||
Loans (average) | 926,567 | 854,747 | 912,365 | 864,041 | ||||
Assets (average) | 1,902,571 | 1,939,879 | 1,910,935 | 1,937,167 | ||||
Deposits (average) | 1,445,793 | 1,435,824 | 1,454,882 | 1,414,765 | ||||
Loans (period-end) | 943,734 | 852,300 | 943,734 | 852,300 | $ 895,394 | |||
Assets | 1,881,142 | [1] | 1,945,996 | 1,881,142 | [1] | 1,945,996 | 1,948,068 | [1] |
Deposits (period-end) | 1,425,153 | 1,440,472 | 1,425,153 | 1,440,472 | $ 1,482,479 | |||
Corporate [Member] | ||||||||
Financial Information of Operating Segment [Abstract] | ||||||||
Net interest income | (619) | (304) | (1,437) | (694) | ||||
Noninterest Income | (114) | 3,327 | 692 | 4,744 | ||||
Total revenue | (733) | 3,023 | (745) | 4,050 | ||||
Provision for credit losses | 15 | (34) | (5) | 63 | ||||
Noninterest expense | 618 | 1,000 | 1,404 | 2,231 | ||||
Income before income tax expense | (1,366) | 2,057 | (2,144) | 1,756 | ||||
Income tax expense (benefit) | (242) | 223 | (469) | (52) | ||||
Net income before noncontrolling interests | (1,124) | 1,834 | (1,675) | 1,808 | ||||
Less: Net income (loss) from noncontrolling interests | (170) | 704 | (42) | 757 | ||||
Wells Fargo net income | (954) | 1,130 | (1,633) | 1,051 | ||||
Loans (average) | 9,083 | 10,077 | 9,187 | 10,152 | ||||
Assets (average) | 642,606 | 754,629 | 664,850 | 741,203 | ||||
Deposits (average) | 20,327 | 41,696 | 23,665 | 44,080 | ||||
Loans (period-end) | 9,133 | 10,593 | 9,133 | 10,593 | ||||
Assets | 611,658 | 761,915 | 611,658 | 761,915 | ||||
Deposits (period-end) | 21,563 | 40,091 | 21,563 | 40,091 | ||||
Reconciling Items [Member] | ||||||||
Financial Information of Operating Segment [Abstract] | ||||||||
Net interest income | (108) | (109) | (215) | (216) | ||||
Noninterest Income | (408) | (312) | (814) | (583) | ||||
Total revenue | (516) | (421) | (1,029) | (799) | ||||
Provision for credit losses | 0 | 0 | 0 | 0 | ||||
Noninterest expense | 0 | 0 | 0 | 0 | ||||
Income before income tax expense | (516) | (421) | (1,029) | (799) | ||||
Income tax expense (benefit) | (516) | (421) | (1,029) | (799) | ||||
Net income before noncontrolling interests | 0 | 0 | 0 | 0 | ||||
Less: Net income (loss) from noncontrolling interests | 0 | 0 | 0 | 0 | ||||
Wells Fargo net income | 0 | 0 | 0 | 0 | ||||
Loans (average) | 0 | 0 | 0 | 0 | ||||
Assets (average) | 0 | 0 | 0 | 0 | ||||
Deposits (average) | 0 | 0 | 0 | 0 | ||||
Loans (period-end) | 0 | 0 | 0 | 0 | ||||
Assets | 0 | 0 | 0 | 0 | ||||
Deposits (period-end) | 0 | 0 | 0 | 0 | ||||
Consumer Banking and Lending [Member] | Operating Segments [Member] | ||||||||
Financial Information of Operating Segment [Abstract] | ||||||||
Net interest income | 6,372 | 5,618 | 12,368 | 11,233 | ||||
Noninterest Income | 2,135 | 3,068 | 4,702 | 6,107 | ||||
Total revenue | 8,507 | 8,686 | 17,070 | 17,340 | ||||
Provision for credit losses | 613 | (367) | 423 | (786) | ||||
Noninterest expense | 6,036 | 6,202 | 12,431 | 12,469 | ||||
Income before income tax expense | 1,858 | 2,851 | 4,216 | 5,657 | ||||
Income tax expense (benefit) | 465 | 713 | 1,053 | 1,415 | ||||
Net income before noncontrolling interests | 1,393 | 2,138 | 3,163 | 4,242 | ||||
Less: Net income (loss) from noncontrolling interests | 0 | 0 | 0 | 0 | ||||
Wells Fargo net income | 1,393 | 2,138 | 3,163 | 4,242 | ||||
Loans (average) | 330,859 | 331,892 | 327,973 | 342,428 | ||||
Assets (average) | 379,194 | 388,617 | 377,043 | 398,530 | ||||
Deposits (average) | 898,650 | 835,752 | 890,042 | 812,723 | ||||
Loans (period-end) | 335,732 | 326,760 | 335,732 | 326,760 | ||||
Assets | 380,353 | 382,464 | 380,353 | 382,464 | ||||
Deposits (period-end) | 892,373 | 840,434 | 892,373 | 840,434 | ||||
Consumer Banking and Lending [Member] | Operating Segments [Member] | Maximum [Member] | Customer concentration risk [Member] | Revenue benchmark [Member] | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Revenue | 10 | |||||||
Commercial Banking [Member] | Operating Segments [Member] | ||||||||
Financial Information of Operating Segment [Abstract] | ||||||||
Net interest income | 1,580 | 1,202 | 2,941 | 2,456 | ||||
Noninterest Income | 912 | 906 | 1,878 | 1,733 | ||||
Total revenue | 2,492 | 2,108 | 4,819 | 4,189 | ||||
Provision for credit losses | 21 | (382) | (323) | (781) | ||||
Noninterest expense | 1,478 | 1,443 | 3,009 | 3,073 | ||||
Income before income tax expense | 993 | 1,047 | 2,133 | 1,897 | ||||
Income tax expense (benefit) | 249 | 261 | 529 | 473 | ||||
Net income before noncontrolling interests | 744 | 786 | 1,604 | 1,424 | ||||
Less: Net income (loss) from noncontrolling interests | 3 | 2 | 6 | 3 | ||||
Wells Fargo net income | 741 | 784 | 1,598 | 1,421 | ||||
Loans (average) | 202,019 | 178,572 | 198,228 | 180,845 | ||||
Assets (average) | 223,890 | 195,453 | 219,438 | 197,396 | ||||
Deposits (average) | 188,286 | 192,586 | 194,458 | 190,984 | ||||
Loans (period-end) | 205,241 | 178,905 | 205,241 | 178,905 | ||||
Assets | 229,454 | 196,421 | 229,454 | 196,421 | ||||
Deposits (period-end) | 183,145 | 197,461 | 183,145 | 197,461 | ||||
Corporate and Investment Banking [Member] | Operating Segments [Member] | ||||||||
Financial Information of Operating Segment [Abstract] | ||||||||
Net interest income | 2,057 | 1,783 | 4,047 | 3,562 | ||||
Noninterest Income | 1,516 | 1,555 | 2,996 | 3,380 | ||||
Total revenue | 3,573 | 3,338 | 7,043 | 6,942 | ||||
Provision for credit losses | (62) | (501) | (258) | (785) | ||||
Noninterest expense | 1,840 | 1,805 | 3,823 | 3,638 | ||||
Income before income tax expense | 1,795 | 2,034 | 3,478 | 4,089 | ||||
Income tax expense (benefit) | 459 | 513 | 884 | 1,013 | ||||
Net income before noncontrolling interests | 1,336 | 1,521 | 2,594 | 3,076 | ||||
Less: Net income (loss) from noncontrolling interests | 0 | (2) | 0 | (2) | ||||
Wells Fargo net income | 1,336 | 1,523 | 2,594 | 3,078 | ||||
Loans (average) | 298,694 | 252,422 | 291,635 | 249,302 | ||||
Assets (average) | 564,306 | 513,414 | 557,891 | 512,476 | ||||
Deposits (average) | 164,860 | 190,810 | 167,009 | 192,645 | ||||
Loans (period-end) | 308,286 | 253,259 | 308,286 | 253,259 | ||||
Assets | 567,733 | 516,518 | 567,733 | 516,518 | ||||
Deposits (period-end) | 162,439 | 188,219 | 162,439 | 188,219 | ||||
Wealth and Investment Management [Member] | Operating Segments [Member] | ||||||||
Financial Information of Operating Segment [Abstract] | ||||||||
Net interest income | 916 | 610 | 1,715 | 1,267 | ||||
Noninterest Income | 2,789 | 2,926 | 5,747 | 5,813 | ||||
Total revenue | 3,705 | 3,536 | 7,462 | 7,080 | ||||
Provision for credit losses | (7) | 24 | (44) | (19) | ||||
Noninterest expense | 2,911 | 2,891 | 6,086 | 5,919 | ||||
Income before income tax expense | 801 | 621 | 1,420 | 1,180 | ||||
Income tax expense (benefit) | 198 | 156 | 352 | 296 | ||||
Net income before noncontrolling interests | 603 | 465 | 1,068 | 884 | ||||
Less: Net income (loss) from noncontrolling interests | 0 | 0 | 0 | 0 | ||||
Wells Fargo net income | 603 | 465 | 1,068 | 884 | ||||
Loans (average) | 85,912 | 81,784 | 85,342 | 81,314 | ||||
Assets (average) | 92,575 | 87,766 | 91,713 | 87,562 | ||||
Deposits (average) | 173,670 | 174,980 | 179,708 | 174,333 | ||||
Loans (period-end) | 85,342 | 82,783 | 85,342 | 82,783 | ||||
Assets | 91,944 | 88,678 | 91,944 | 88,678 | ||||
Deposits (period-end) | $ 165,633 | $ 174,267 | $ 165,633 | $ 174,267 | ||||
[1]Our consolidated assets at June 30, 2022 and December 31, 2021, included the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Debt securities, $71 million and $71 million; Loans, $4.5 billion and $4.5 billion; All other assets, $167 million and $234 million; and Total assets, $4.7 billion and $4.8 billion, respectively. |
Regulatory Capital Requiremen_3
Regulatory Capital Requirements and Other Restrictions, Regulatory Capital Information (Details) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Wells Fargo & Company [Member] | ||
Regulatory leverage: | ||
Total leverage exposure | $ 2,250,127 | $ 2,316,079 |
Supplementary leverage ratio (SLR) | 0.0663 | 0.0689 |
Tier 1 leverage ratio | 0.0796 | 0.0834 |
Required minimum leverage | ||
Supplementary leverage ratio | 0.0500 | 0.0500 |
Tier 1 leverage ratio | 0.0400 | 0.0400 |
Wells Fargo & Company [Member] | Standardized Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common Equity Tier 1 | $ 130,068 | $ 140,643 |
Tier 1 | 149,116 | 159,671 |
Total | 183,620 | 196,308 |
Assets: | ||
Risk-weighted assets | 1,253,618 | 1,239,026 |
Adjusted average assets | $ 1,874,291 | $ 1,915,585 |
Regulatory capital ratios: | ||
Common Equity Tier 1 capital | 0.1038 | 0.1135 |
Tier 1 capital | 0.1189 | 0.1289 |
Total capital | 0.1465 | 0.1584 |
Required minimum capital ratios: | ||
Common Equity Tier 1 Capital | 0.0910 | 0.0960 |
Tier 1 capital | 0.1060 | 0.1110 |
Total capital | 0.1260 | 0.1310 |
Wells Fargo & Company [Member] | Advanced Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common Equity Tier 1 | $ 130,068 | $ 140,643 |
Tier 1 | 149,116 | 159,671 |
Total | 174,783 | 186,580 |
Assets: | ||
Risk-weighted assets | 1,121,572 | 1,116,068 |
Adjusted average assets | $ 1,874,291 | $ 1,915,585 |
Regulatory capital ratios: | ||
Common Equity Tier 1 capital | 0.1160 | 0.1260 |
Tier 1 capital | 0.1330 | 0.1431 |
Total capital | 0.1558 | 0.1672 |
Required minimum capital ratios: | ||
Common Equity Tier 1 Capital | 0.0850 | 0.0900 |
Tier 1 capital | 0.1000 | 0.1050 |
Total capital | 0.1200 | 0.1250 |
Wells Fargo Bank, NA [Member] | ||
Regulatory leverage: | ||
Total leverage exposure | $ 2,079,470 | $ 2,133,798 |
Supplementary leverage ratio (SLR) | 0.0675 | 0.0700 |
Tier 1 leverage ratio | 0.0819 | 0.0849 |
Required minimum leverage | ||
Supplementary leverage ratio | 0.0600 | 0.0600 |
Tier 1 leverage ratio | 0.0400 | 0.0400 |
Wells Fargo Bank, NA [Member] | Standardized Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common Equity Tier 1 | $ 140,383 | $ 149,318 |
Tier 1 | 140,383 | 149,318 |
Total | 163,090 | 173,044 |
Assets: | ||
Risk-weighted assets | 1,182,778 | 1,137,839 |
Adjusted average assets | $ 1,713,716 | $ 1,758,479 |
Regulatory capital ratios: | ||
Common Equity Tier 1 capital | 0.1187 | 0.1312 |
Tier 1 capital | 0.1187 | 0.1312 |
Total capital | 0.1379 | 0.1521 |
Required minimum capital ratios: | ||
Common Equity Tier 1 Capital | 0.0700 | 0.0700 |
Tier 1 capital | 0.0850 | 0.0850 |
Total capital | 0.1050 | 0.1050 |
Wells Fargo Bank, NA [Member] | Advanced Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common Equity Tier 1 | $ 140,383 | $ 149,318 |
Tier 1 | 140,383 | 149,318 |
Total | 154,279 | 163,213 |
Assets: | ||
Risk-weighted assets | 1,001,559 | 965,511 |
Adjusted average assets | $ 1,713,716 | $ 1,758,479 |
Regulatory capital ratios: | ||
Common Equity Tier 1 capital | 0.1402 | 0.1547 |
Tier 1 capital | 0.1402 | 0.1547 |
Total capital | 0.1540 | 0.1690 |
Required minimum capital ratios: | ||
Common Equity Tier 1 Capital | 0.0700 | 0.0700 |
Tier 1 capital | 0.0850 | 0.0850 |
Total capital | 0.1050 | 0.1050 |
Regulatory Capital Requiremen_4
Regulatory Capital Requirements and Other Restrictions, Minimum Required Regulatory Capital Ratios (Details) | Jun. 30, 2022 | Dec. 31, 2021 |
Wells Fargo & Company [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Banking Regulation, Global Systemically Important Bank (GSIB) Surcharge | 0.0150 | |
Supplementary leverage ratio, minimum | 0.0300 | |
Leverage buffer, minimum | 0.0200 | |
Supplementary leverage ratio | 0.0500 | 0.0500 |
Wells Fargo & Company [Member] | Advanced Approach Under Basel III [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Capital conservation buffer, minimum | 0.0250 | |
Wells Fargo & Company [Member] | Standardized Approach Under Basel III [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Banking Regulation, Stress Capital Buffer (SCB) | 0.0310 | |
Wells Fargo Bank, NA [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Supplementary leverage ratio | 0.0600 | 0.0600 |
Wells Fargo Bank, NA [Member] | Advanced Approach Under Basel III [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Capital conservation buffer, minimum | 0.0250 | |
Wells Fargo Bank, NA [Member] | Standardized Approach Under Basel III [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Capital conservation buffer, minimum | 0.0250 |
Regulatory Capital Requiremen_5
Regulatory Capital Requirements and Other Restrictions, Nature of Restrictions on Cash and Cash Equivalents (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Reserve balance for non-U.S. central banks [Member] | ||
Restricted Cash and Cash Equivalents Items [Line Items] | ||
Restricted cash equivalents | $ 255 | $ 382 |
Segregated for benefit of brokerage customers under federal and other brokerage regulations [Member] | ||
Restricted Cash and Cash Equivalents Items [Line Items] | ||
Restricted cash equivalents | $ 739 | $ 830 |