Document and Entity Information
Document and Entity Information - $ / shares | 9 Months Ended | ||
Sep. 30, 2018 | Oct. 31, 2018 | Dec. 31, 2017 | |
Entity Registrant Name | SUNTRUST BANKS INC | ||
Entity Central Index Key | 750,556 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Document Type | 10-Q | ||
Document Period End Date | Sep. 30, 2018 | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | Q3 | ||
Amendment Flag | false | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Common Stock, Shares Outstanding | 449,285,214 | ||
Entity Current Reporting Status | Yes | ||
Common Stock, Par or Stated Value Per Share | $ 1 | $ 1 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Millions | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||||||
Interest Income | |||||||||
Interest and Fee Income, Loans and Leases Held-in-portfolio | $ 1,549 | $ 1,382 | $ 4,424 | $ 4,009 | |||||
Interest and fees on loans held for sale | 22 | 24 | 67 | 70 | |||||
Interest and Dividend Income, Securities, Available-for-sale | [1],[2] | 212 | 191 | 628 | 560 | ||||
Trading account interest and other | [2] | 51 | 38 | 142 | 108 | ||||
Total interest income | 1,834 | 1,635 | 5,261 | 4,747 | |||||
Interest Expense | |||||||||
Interest Expense, Deposits | 193 | 111 | 484 | 286 | |||||
Interest Expense, Long-term Debt | 95 | 76 | 252 | 216 | |||||
Interest on other borrowings | 34 | 18 | 85 | 46 | |||||
Total interest expense | 322 | 205 | 821 | 548 | |||||
Net, interest income | 1,512 | 1,430 | [3],[4] | 4,440 | 4,199 | [5],[6] | |||
Provision for Loan, Lease, and Other Losses | 61 | [7] | 120 | [3],[4],[8] | 121 | [9] | 330 | [5],[6],[10] | |
Interest Income (Expense), after Provision for Loan Loss | 1,451 | 1,310 | 4,319 | 3,869 | |||||
Noninterest Income | |||||||||
Investment Banking Revenue | [12] | 150 | [11] | 169 | [13] | 453 | [14] | 501 | [15] |
Trading Gain (Loss) | 42 | [11] | 51 | [13] | 137 | [14] | 148 | [15] | |
Fees and Commissions, Mortgage Banking and Servicing | 43 | [11] | 46 | [13] | 138 | [14] | 148 | [15] | |
commercial real estate related income | 24 | [11] | 17 | [13] | 66 | [14] | 61 | [15] | |
Debt and Equity Securities, Gain (Loss) | 0 | [11] | 0 | [13] | 1 | [14] | 1 | [15] | |
Noninterest Income, Other Operating Income | 21 | [11] | 25 | [13] | 108 | [14] | 76 | [15] | |
Noninterest Income | 782 | [11] | 846 | [3],[4],[13] | 2,408 | [14] | 2,520 | [5],[6],[15] | |
Noninterest Expense | |||||||||
Employee compensation | 719 | 725 | 2,141 | 2,152 | |||||
Other Labor-related Expenses | 76 | 81 | 310 | 302 | |||||
Outside processing and software | 234 | 203 | 667 | 612 | |||||
Net occupancy expense | 86 | 94 | 270 | 280 | |||||
Federal Deposit Insurance Corporation Premium Expense | 39 | 47 | 118 | 143 | |||||
Marketing and Advertising Expense | 45 | 45 | 127 | 129 | |||||
Equipment Expense | 40 | 40 | 124 | 123 | |||||
Operating losses | 18 | (34) | 40 | 17 | |||||
Amortization | 19 | 22 | 51 | 49 | |||||
Other Noninterest Expense | 108 | 168 | 343 | 436 | |||||
Noninterest Expense | 1,384 | 1,391 | [3],[4] | 4,191 | 4,243 | [5],[6] | |||
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest | 849 | 765 | 2,536 | 2,146 | |||||
Income Tax Expense (Benefit) | 95 | 225 | 412 | 606 | |||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 754 | 540 | [3],[4] | 2,124 | 1,540 | [5],[6] | |||
Net Income (Loss) Attributable to Noncontrolling Interest | 2 | 2 | [3],[4] | 7 | 7 | [5],[6] | |||
Net Income (Loss) Attributable to Parent | 752 | 538 | [3],[4] | 2,117 | 1,533 | [5],[6] | |||
Dividends, Preferred Stock, Cash | 26 | 26 | 81 | [16] | 65 | [16] | |||
Net Income (Loss) Available to Common Stockholders, Basic | $ 726 | $ 512 | $ 2,036 | $ 1,468 | |||||
Earnings Per Share, Diluted | $ 1.56 | $ 1.06 | $ 4.34 | $ 3 | |||||
Earnings Per Share, Basic | 1.58 | 1.07 | 4.38 | 3.04 | |||||
Common Stock, Dividends, Per Share, Declared | $ 0.50 | $ 0.40 | $ 1.30 | $ 0.92 | |||||
Weighted Average Number of Shares Outstanding, Diluted | 464,164 | 483,640 | 469,006 | 489,176 | |||||
Weighted Average Number of Shares Outstanding, Basic | 460,252 | 478,258 | 464,804 | 483,711 | |||||
Deposit Account [Member] | |||||||||
Noninterest Income | |||||||||
Revenues | $ 144 | [11] | $ 154 | [13] | $ 433 | [14] | $ 453 | [15] | |
Financial Service, Other [Member] | |||||||||
Noninterest Income | |||||||||
Revenues | [12] | 89 | [11] | 89 | [13] | 264 | [14] | 270 | [15] |
Credit and Debit Card [Member] | |||||||||
Noninterest Income | |||||||||
Revenues | 75 | [11] | 86 | [13] | 241 | [14] | 255 | [15] | |
Fiduciary and Trust [Member] | |||||||||
Noninterest Income | |||||||||
Revenues | 80 | [11] | 79 | [13] | 230 | [14] | 229 | [15] | |
Investment Advisory, Management and Administrative Service [Member] | |||||||||
Noninterest Income | |||||||||
Revenues | 74 | [11] | 69 | [13] | 219 | [14] | 208 | [15] | |
Mortgage Banking [Member] | |||||||||
Noninterest Income | |||||||||
Revenues | $ 40 | [11] | $ 61 | [13] | $ 118 | [14] | $ 170 | [15] | |
[1] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets and began presenting income associated with certain of these equity securities in Trading account interest and other on the Consolidated Statements of Income. For periods prior to January 1, 2018, this income was previously presented in Interest on securities available for sale and has been reclassified to Trading account interest and other for comparability. | ||||||||
[2] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets and began presenting income associated with certain of these equity securities in Trading account interest and other. For periods prior to January 1, 2018, this income was previously presented in Interest on securities available for sale and has been reclassified to Trading account interest and other for comparability. | ||||||||
[3] | During the fourth quarter of 2017, the Company sold PAC, the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC. | ||||||||
[4] | During the second quarter of 2018, certain of the Company's business banking clients were transferred from the Wholesale business segment to the Consumer business segment. For all periods prior to the second quarter of 2018, the corresponding financial results have been transferred to the Consumer business segment for comparability purposes. | ||||||||
[5] | During the fourth quarter of 2017, the Company sold PAC, the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC. | ||||||||
[6] | During the second quarter of 2018, certain of the Company's business banking clients were transferred from the Wholesale business segment to the Consumer business segment. For all periods prior to the second quarter of 2018, the corresponding financial results have been transferred to the Consumer business segment for comparability purposes. | ||||||||
[7] | Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances. | ||||||||
[8] | Provision/(benefit) for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision/(benefit) attributable to quarterly changes in the ALLL and unfunded commitment reserve balances. | ||||||||
[9] | Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances. | ||||||||
[10] | Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balan | ||||||||
[11] | Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers, except for out of scope amounts. | ||||||||
[12] | Beginning July 1, 2018, the Company began presenting bridge commitment fee income related to capital market transactions in Investment banking income on the Consolidated Statements of Income. For periods prior to July 1, 2018, this income was previously presented in Other charges and fees and has been reclassified to Investment banking income for comparability. | ||||||||
[13] | Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition, and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers. | ||||||||
[14] | Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers, except for out of scope amounts. | ||||||||
[15] | Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition, and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers. | ||||||||
[16] | For the nine months ended September 30, 2018, dividends were $3,044 per share for both Series A and B Preferred Stock, $1,469 per share for Series E Preferred Stock, $4,219 per share for Series F Preferred Stock, $3,788 per share for Series G Preferred Stock, and $4,285 per share for Series H Preferred Stock.For the nine months ended September 30, 2017, dividends were $3,044 per share for both Series A and B Preferred Stock, $4,406 per share for Series E Preferred Stock, $4,219 per share for Series F Preferred Stock, and $2,090 per share for Series G Preferred Stock. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income Consolidated Statement of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |||
Statement of Comprehensive Income [Abstract] | ||||||
Net Income (Loss) Attributable to Parent | $ 752 | $ 538 | [1],[2] | $ 2,117 | $ 1,533 | [3],[4] |
Other Comprehensive Income (Loss), Securities, Available-for-sale, Adjustment, after Tax | (178) | 40 | (726) | 97 | ||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | (20) | (2) | (179) | (13) | ||
Other Comprehensive Income (Loss), Brokered Time Deposits, Net of Tax | 0 | 0 | 0 | 0 | ||
Other Comprehensive Income (Loss), Long Term Debt, Adjustment, Net of Tax | 0 | 1 | 3 | 1 | ||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 3 | 3 | 2 | 1 | ||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (195) | 42 | (900) | 86 | ||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $ 557 | $ 580 | $ 1,217 | $ 1,619 | ||
[1] | During the fourth quarter of 2017, the Company sold PAC, the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC. | |||||
[2] | During the second quarter of 2018, certain of the Company's business banking clients were transferred from the Wholesale business segment to the Consumer business segment. For all periods prior to the second quarter of 2018, the corresponding financial results have been transferred to the Consumer business segment for comparability purposes. | |||||
[3] | During the fourth quarter of 2017, the Company sold PAC, the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC. | |||||
[4] | During the second quarter of 2018, certain of the Company's business banking clients were transferred from the Wholesale business segment to the Consumer business segment. For all periods prior to the second quarter of 2018, the corresponding financial results have been transferred to the Consumer business segment for comparability purposes. |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income Consolidated Statement of Comprehensive Income (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Statement of Comprehensive Income [Abstract] | ||||
Other Comprehensive Income (Loss), Securities, Available-for-sale, Tax | $ (55) | $ 24 | $ (223) | $ 57 |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax | (6) | (1) | (55) | (7) |
Other Comprehensive Income (Loss), Brokered Time Deposits, Tax | 0 | 0 | 0 | 0 |
Other Comprehensive Income (Loss), Long Term Debt, Adjustment, Tax | 0 | 1 | 1 | 1 |
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, Tax | $ 1 | $ 2 | $ 1 | $ 3 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) shares in Thousands, $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | ||
Assets | ||||
Cash and Due from Banks | $ 6,206 | $ 5,349 | ||
Federal Funds Sold and Securities Purchased under Agreements to Resell | 1,374 | 1,538 | ||
Interest-bearing Deposits in Banks and Other Financial Institutions | 25 | 25 | ||
Cash and cash equivalents | 7,605 | 6,912 | ||
Debt Securities, Trading, and Equity Securities, FV-NI | [1] | 5,676 | 5,093 | |
Available-for-sale Securities | [2],[3] | 30,984 | 30,947 | [4] |
Loans Held for Sale | [5] | 1,961 | 2,290 | |
Loans held for investment | [6] | 147,215 | 143,181 | |
Loans and Leases Receivable, Allowance | (1,623) | (1,735) | ||
Net loans | 145,592 | 141,446 | ||
Property, Plant and Equipment, Net | 1,555 | 1,734 | ||
Goodwill | 6,331 | 6,331 | ||
Intangible Assets, Net (Excluding Goodwill) | [7] | 2,140 | 1,791 | |
Other Assets | [2] | 9,432 | 9,418 | |
Total assets | 211,276 | 205,962 | ||
Liabilities and Shareholders' Equity | ||||
Noninterest-bearing consumer and commercial deposits | 41,870 | 42,784 | ||
Interest-bearing Deposit Liabilities | 118,508 | 117,996 | ||
Total deposits | 160,378 | 160,780 | ||
Federal Funds Purchased | 3,354 | 2,561 | ||
Securities Sold under Agreements to Repurchase | 1,730 | 1,503 | ||
Other Short-term Borrowings | 2,856 | 717 | ||
Long-term Debt | [8] | 14,289 | 9,785 | |
Trading liabilities | 1,863 | 1,283 | ||
Other Liabilities | 2,667 | 4,179 | ||
Total liabilities | 187,137 | 180,808 | ||
Preferred Stock, Value, Outstanding | 2,025 | 2,475 | ||
Common Stock, Value, Outstanding | 553 | 550 | ||
Additional Paid in Capital | 9,001 | 9,000 | ||
Retained earnings | 19,111 | 17,540 | ||
Treasury Stock, Value | [9] | (4,677) | (3,591) | |
Accumulated Other Comprehensive Income (Loss), Net of Tax | (1,874) | (820) | ||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 24,139 | 25,154 | ||
Liabilities and Equity | $ 211,276 | $ 205,962 | ||
Common Stock, Shares, Outstanding | [10] | 458,626 | 470,931 | |
Common shares authorized | 750,000 | 750,000 | ||
Preferred Stock, Shares Outstanding | 20 | 25 | ||
Preferred Stock, Shares Authorized | 50,000 | 50,000 | ||
Treasury shares of common stock | 94,038 | 79,133 | ||
Treasury Stock and Other | ||||
Liabilities and Shareholders' Equity | ||||
Treasury Stock, Value | $ (4,777) | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | [11] | (4,677) | $ (3,591) | |
Stockholders' Equity Attributable to Noncontrolling Interest | 101 | 103 | ||
Variable Interest Entity, Primary Beneficiary [Member] | ||||
Assets | ||||
Loans held for investment | 159 | 179 | ||
Liabilities and Shareholders' Equity | ||||
Long-term Debt | $ 168 | $ 189 | ||
Restricted Stock [Member] | ||||
Liabilities and Shareholders' Equity | ||||
Common Stock, Shares, Outstanding | 7 | 9 | ||
Trading Assets [Member] | ||||
Liabilities and Shareholders' Equity | ||||
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value | $ 1,362 | $ 1,086 | ||
Available-for-sale Securities [Member] | ||||
Liabilities and Shareholders' Equity | ||||
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value | $ 164 | $ 223 | ||
[1] | Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,362 million and $1,086 million at September 30, 2018 and December 31, 2017, respectively. | |||
[2] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets. Reclassifications have been made to previously reported amounts for comparability. | |||
[3] | Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $164 million and $223 million at September 30, 2018 and December 31, 2017, respectively. | |||
[4] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information. | |||
[5] | Includes $1.8 billion and $1.6 billion of LHFS measured at fair value at September 30, 2018 and December 31, 2017, respectively. | |||
[6] | Includes loans of consolidated VIEs of $159 million and $179 million at September 30, 2018 and December 31, 2017, respectively. | |||
[7] | Excludes other intangible assets that are indefinite-lived, carried at fair value, or fully amortized. | |||
[8] | Includes debt of consolidated VIEs of $168 million and $189 million at September 30, 2018 and December 31, 2017, respectively. | |||
[9] | Includes noncontrolling interest of $101 million and $103 million at September 30, 2018 and December 31, 2017, respectively. | |||
[10] | Includes restricted shares of 7 thousand and 9 thousand at September 30, 2018 and December 31, 2017, respectively. | |||
[11] | At September 30, 2018, includes ($4,777) million for treasury stock, less than ($1) million for the compensation element of restricted stock, and $101 million for noncontrolling interest.At September 30, 2017, includes ($3,374) million for treasury stock, less than ($1) million for the compensation element of restricted stock, and $101 million for noncontrolling interest. |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | |||
Debt Securities, Held-to-maturity, Fair Value | $ 0 | $ 0 | |||
Loans Held-for-sale, Fair Value Disclosure | 1,822 | 1,577 | |||
Loans Receivable, Fair Value Disclosure | $ 168 | 196 | |||
Other Assets, Fair Value Disclosure | $ 56 | ||||
Common stock, par value | $ 1 | $ 1 | |||
Loans and Leases Receivable, Gross | [1] | $ 147,215 | $ 143,181 | ||
Long-term Debt | [2] | $ 14,289 | $ 9,785 | ||
Common Stock, Shares, Outstanding | [3] | 458,626 | 470,931 | ||
Variable Interest Entity, Primary Beneficiary [Member] | |||||
Loans and Leases Receivable, Gross | $ 159 | $ 179 | |||
Long-term Debt | 168 | 189 | |||
Treasury Stock and Other | |||||
Stockholders' Equity Attributable to Noncontrolling Interest | 101 | 103 | |||
Consumer Portfolio Segment [Member] | |||||
Loans Receivable, Fair Value Disclosure | 168 | 196 | |||
Loans and Leases Receivable, Gross | 69,257 | 67,704 | |||
Residential Portfolio Segment [Member] | |||||
Loans and Leases Receivable, Gross | $ 38,505 | $ 38,620 | |||
Restricted Stock [Member] | |||||
Common Stock, Shares, Outstanding | 7 | 9 | |||
Available-for-sale Securities [Member] | |||||
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value | $ 164 | $ 223 | |||
Fair Value, Measurements, Recurring [Member] | |||||
Loans Held-for-sale, Fair Value Disclosure | 1,822 | 1,577 | |||
Loans Receivable, Fair Value Disclosure | 168 | 196 | |||
Servicing Asset at Fair Value, Amount | 2,062 | 1,710 | |||
Other Assets, Fair Value Disclosure | 92 | [4] | 56 | [5] | |
Long-term Debt, Fair Value | 235 | 530 | |||
Brokered Time Deposits [Member] | Fair Value, Measurements, Recurring [Member] | |||||
Deposits, Fair Value Disclosure | $ 384 | $ 236 | |||
[1] | Includes loans of consolidated VIEs of $159 million and $179 million at September 30, 2018 and December 31, 2017, respectively. | ||||
[2] | Includes debt of consolidated VIEs of $168 million and $189 million at September 30, 2018 and December 31, 2017, respectively. | ||||
[3] | Includes restricted shares of 7 thousand and 9 thousand at September 30, 2018 and December 31, 2017, respectively. | ||||
[4] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information. | ||||
[5] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information. |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Millions | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock and Other | [1] | AOCI Attributable to Parent [Member] | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Common Stock, Shares, Outstanding | 491,000 | ||||||||||
Total shareholders' equity at Dec. 31, 2016 | $ 23,618 | $ 1,225 | $ 550 | $ 9,010 | $ 16,000 | $ (2,346) | $ (821) | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Net Income (Loss) Attributable to Parent | 1,533 | [2],[3] | 1,533 | ||||||||
Other Comprehensive Income (Loss), Net of Tax | 86 | 86 | |||||||||
Noncontrolling Interest, Period Increase (Decrease) | (2) | (2) | |||||||||
Dividends, Common Stock, Cash | (443) | (443) | |||||||||
Dividends, Preferred Stock, Cash | [4] | (65) | (65) | ||||||||
Stock Issued During Period, Value, New Issues | 743 | 750 | (7) | ||||||||
Treasury Stock, Shares, Acquired | (17,000) | ||||||||||
Treasury Stock, Value, Acquired, Cost Method | (984) | (984) | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 1,000 | ||||||||||
Stock Issued During Period, Value, Stock Options Exercised | (13) | (14) | (27) | ||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures | 1,000 | ||||||||||
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | 23 | (4) | (4) | 31 | |||||||
Total shareholders' equity at Sep. 30, 2017 | $ 24,522 | 1,975 | $ 550 | 8,985 | 17,021 | (3,274) | (735) | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Common Stock, Shares, Outstanding | 476,000 | ||||||||||
Common Stock, Shares, Outstanding | 470,931 | [5] | 471,000 | ||||||||
Total shareholders' equity at Dec. 31, 2017 | $ 25,154 | 2,475 | $ 550 | 9,000 | 17,540 | (3,591) | (820) | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income | [6] | (10) | 144 | (154) | [7] | ||||||
Net Income (Loss) Attributable to Parent | 2,117 | 2,117 | |||||||||
Other Comprehensive Income (Loss), Net of Tax | (900) | (900) | |||||||||
Noncontrolling Interest, Period Increase (Decrease) | (2) | (2) | |||||||||
Dividends, Common Stock, Cash | (603) | (603) | |||||||||
Dividends, Preferred Stock, Cash | [4] | (81) | (81) | ||||||||
Treasury Stock, Shares, Acquired | (17,000) | ||||||||||
Treasury Stock, Value, Acquired, Cost Method | (1,160) | (1,160) | |||||||||
Stock Redeemed or Called During Period, Value | (450) | (450) | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 1,000 | ||||||||||
Stock Issued During Period, Value, Stock Options Exercised | (36) | (36) | |||||||||
Stock Issued During Period, Shares, Other | 3,000 | ||||||||||
Stock Issued During Period, Value, Other | 0 | $ 3 | (3) | ||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures | 1,000 | ||||||||||
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | 38 | 4 | (6) | 40 | |||||||
Total shareholders' equity at Sep. 30, 2018 | $ 24,139 | $ 2,025 | $ 553 | $ 9,001 | $ 19,111 | $ (4,677) | $ (1,874) | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Common Stock, Shares, Outstanding | 458,626 | [5] | 459,000 | ||||||||
[1] | At September 30, 2018, includes ($4,777) million for treasury stock, less than ($1) million for the compensation element of restricted stock, and $101 million for noncontrolling interest.At September 30, 2017, includes ($3,374) million for treasury stock, less than ($1) million for the compensation element of restricted stock, and $101 million for noncontrolling interest. | ||||||||||
[2] | During the fourth quarter of 2017, the Company sold PAC, the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC. | ||||||||||
[3] | During the second quarter of 2018, certain of the Company's business banking clients were transferred from the Wholesale business segment to the Consumer business segment. For all periods prior to the second quarter of 2018, the corresponding financial results have been transferred to the Consumer business segment for comparability purposes. | ||||||||||
[4] | For the nine months ended September 30, 2018, dividends were $3,044 per share for both Series A and B Preferred Stock, $1,469 per share for Series E Preferred Stock, $4,219 per share for Series F Preferred Stock, $3,788 per share for Series G Preferred Stock, and $4,285 per share for Series H Preferred Stock.For the nine months ended September 30, 2017, dividends were $3,044 per share for both Series A and B Preferred Stock, $4,406 per share for Series E Preferred Stock, $4,219 per share for Series F Preferred Stock, and $2,090 per share for Series G Preferred Stock. | ||||||||||
[5] | Includes restricted shares of 7 thousand and 9 thousand at September 30, 2018 and December 31, 2017, respectively. | ||||||||||
[6] | Related to the Company's adoption of ASU 2014-09, ASU 2016-01, ASU 2017-12, and ASU 2018-02 on January 1, 2018. See Note 1, "Significant Accounting Policies," for additional information. | ||||||||||
[7] | Related to the Company's adoption of ASU 2018-02 on January 1, 2018. See Note 1, "Significant Accounting Policies," for additional information. |
Consolidated Statements of Sh_2
Consolidated Statements of Shareholders' Equity (Parenthetical) - USD ($) $ in Millions | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | ||
Treasury Stock, Value | [1] | $ (4,677) | $ (3,591) | |
Common stock dividends, per share | $ 1.30 | $ 0.92 | ||
Treasury Stock and Other | ||||
Treasury Stock, Value | $ (4,777) | $ (3,374) | ||
Deferred Compensation Equity | (1) | (1) | ||
Stockholders' Equity Attributable to Noncontrolling Interest | $ 101 | $ 101 | $ 103 | |
Series A Preferred Stock [Member] | ||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 3,044 | $ 3,044 | ||
Series B Preferred Stock [Member] | ||||
Preferred Stock, Dividends, Per Share, Cash Paid | 3,044 | 3,044 | ||
Series E Preferred Stock [Member] | ||||
Preferred Stock, Dividends, Per Share, Cash Paid | 1,469 | 4,406 | ||
Series F Preferred Stock [Member] | ||||
Preferred Stock, Dividends, Per Share, Cash Paid | 4,219 | 4,219 | ||
Series G Preferred Stock [Member] | ||||
Preferred Stock, Dividends, Per Share, Cash Paid | 3,788 | $ 2,090 | ||
Series H Preferred Stock [Member] | ||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 4,285 | |||
[1] | Includes noncontrolling interest of $101 million and $103 million at September 30, 2018 and December 31, 2017, respectively. |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 9 Months Ended | ||||
Sep. 30, 2018 | Sep. 30, 2017 | ||||
Cash Flows from Operating Activities: | |||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 2,124 | $ 1,540 | [1],[2] | ||
Adjustments to reconcile net income/(loss) to net cash provided by operating activities: | |||||
Depreciation, Amortization and Accretion, Net | 535 | 540 | |||
Payments to Acquire Mortgage Servicing Rights (MSR) | (260) | (262) | |||
Provisions For Credit Losses And Foreclosed Properties | 130 | 336 | |||
Stock Option Compensation And Amortization Of Restricted Stock Compensation | 118 | 121 | |||
Debt and Equity Securities, Gain (Loss) | (1) | [3] | (1) | [4] | |
Gain (Loss) on Sale of Loans and Leases | (83) | (183) | |||
Net decrease/(increase) in loans held for sale | 382 | 1,488 | |||
Net decrease/(increase) in Debt Securities, Trading, and Equity Securities, FV-NI | (818) | (272) | |||
Net decrease/(increase) in other assets | [5] | (1,713) | (835) | ||
Net increase/(decrease) in Other Operating Liabilities | 478 | (267) | |||
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | 892 | 2,205 | |||
Cash Flows from Investing Activities: | |||||
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale | 2,840 | 3,169 | |||
Proceeds from Sale of Available-for-sale Securities | 2,047 | 1,486 | |||
Payments to Acquire Available-for-sale Securities | (5,534) | (5,344) | |||
Proceeds from (payments for) Originations and Purchases of Loans Held-for-investment | (4,566) | (1,839) | |||
Proceeds from sales of loans | 199 | 520 | |||
Payments for (Proceeds from) Mortgage Servicing Rights | (73) | 0 | |||
Payment to Acquire Life Insurance Policy, Investing Activities | [5] | (201) | (127) | ||
Proceeds from Life Insurance Policy | [5] | 8 | 3 | ||
Capital expenditures | (170) | (233) | |||
Proceeds from Sale of Other Real Estate | 148 | 183 | |||
Payments for (Proceeds from) Other Investing Activities | [5] | 1 | 9 | ||
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | (5,301) | (2,173) | |||
Cash Flows from Financing Activities: | |||||
Net (decrease)/increase in total deposits | (402) | 2,339 | |||
Net increase/(decrease) in funds purchased, securities sold under agreements to repurchase, and other short-term borrowings | 3,159 | 685 | |||
Proceeds from Issuance of Long-term Debt | 5,111 | 2,623 | |||
Repayment of long-term debt | (484) | (3,073) | |||
Proceeds from Issuance of Preferred Stock and Preference Stock | 0 | 743 | |||
Payments for Repurchase of Preferred Stock and Preference Stock | (450) | 0 | |||
Payments for Repurchase of Common Stock | (1,160) | (984) | |||
Common and preferred dividends paid | (664) | (485) | |||
Payments Related to Tax Withholding for Share-based Compensation | (44) | (38) | |||
Proceeds from the exercise of stock options | 36 | 13 | |||
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | 5,102 | 1,823 | |||
Cash and Cash Equivalents, Period Increase (Decrease) | 693 | 1,855 | |||
Cash and cash equivalents | 6,912 | 6,423 | |||
Cash and cash equivalents | 7,605 | 8,278 | |||
Supplemental Disclosures: | |||||
Transfer of Loans Held-for-sale to Portfolio Loans | 23 | 16 | |||
Transfer of Portfolio Loans and Leases to Held-for-sale | 449 | 218 | |||
Transfer to Other Real Estate | 44 | 43 | |||
Non-cash impact of debt acquired by purchaser in leverage lease sale | $ 0 | $ 9 | |||
[1] | During the fourth quarter of 2017, the Company sold PAC, the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC. | ||||
[2] | During the second quarter of 2018, certain of the Company's business banking clients were transferred from the Wholesale business segment to the Consumer business segment. For all periods prior to the second quarter of 2018, the corresponding financial results have been transferred to the Consumer business segment for comparability purposes. | ||||
[3] | Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers, except for out of scope amounts. | ||||
[4] | Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition, and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers. | ||||
[5] | Related to the Company's adoption of ASU 2016-15, certain prior period amounts have been retrospectively reclassified between operating activities and investing activities. See Note 1, "Significant Accounting Policies," for additional information. |
Significant Accounting Policies
Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | NOTE 1 – SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Basis of Presentation The unaudited Consolidated Financial Statements included within this report have been prepared in accordance with U.S. GAAP to present interim financial statement information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete, consolidated financial statements. However, in the opinion of management, all adjustments, consisting only of normal recurring adjustments that are necessary for a fair presentation of the results of operations in these financial statements, have been made. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying Notes; actual results could vary from these estimates. Certain reclassifications have been made to prior period amounts to conform to the current period presentation. Interim Consolidated Financial Statements should be read in conjunction with the Company’s 2017 Annual Report on Form 10-K. Changes in Significant Accounting Policies Pursuant to the Company's adoption of certain ASU s as of January 1, 2018, the following significant accounting policies have been added to or updated from those disclosed in the Company's 2017 Annual Report on Form 10-K: Revenue Recognition In the ordinary course of business, the Company recognizes revenue as services are rendered, or as transactions occur, and as collectability is reasonably assured. For the Company's revenue recognition accounting policies, see Note 2 , “Revenue Recognition.” Trading Activities and Securities AFS Trading assets and liabilities are measured at fair value with changes in fair value recognized within Noninterest income in the Company's Consolidated Statements of Income. Securities AFS are used primarily as a store of liquidity and as part of the overall ALM process to optimize income and market performance over an entire interest rate cycle. Interest income on securities AFS is recognized on an accrual basis in Interest income in the Company's Consolidated Statements of Income. Premiums and discounts on securities AFS are amortized or accreted as an adjustment to yield over the life of the security. The Company estimates principal prepayments on securities AFS for which prepayments are probable and the timing and amount of prepayments can be reasonably estimated. The estimates are informed by analyses of both historical prepayments and anticipated macroeconomic conditions, such as spot interest rates compared to implied forward interest rates. The estimate of prepayments for these securities impacts their lives and thereby the amortization or accretion of associated premiums and discounts. Securities AFS are measured at fair value with unrealized gains and losses, net of any tax effect, included in AOCI as a component of shareholders’ equity. Realized gains and losses, including OTTI , are determined using the specific identification method and are recognized as a component of Noninterest income in the Consolidated Statements of Income. Securities AFS are reviewed for OTTI on a quarterly basis. In determining whether OTTI exists for securities AFS in an unrealized loss position, the Company assesses whether it has the intent to sell the security or assesses the likelihood of selling the security prior to the recovery of its amortized cost basis. If the Company intends to sell the security or it is more-likely-than-not that the Company will be required to sell the security prior to the recovery of its amortized cost basis, the security is written down to fair value, and the full amount of any impairment charge is recognized as a component of Noninterest income in the Consolidated Statements of Income. If the Company does not intend to sell the security and it is more-likely-than-not that the Company will not be required to sell the security prior to recovery of its amortized cost basis, only the credit component of any impairment of a security is recognized as a component of Noninterest income in the Consolidated Statements of Income, with the amount of any remaining unrealized losses recorded in OCI . For additional information on the Company’s trading and securities AFS activities, see Note 4 , “Trading Assets and Liabilities and Derivatives,” and Note 5 , “Securities Available for Sale.” Equity Securities The Company records equity securities that are not classified as trading assets or liabilities within Other assets in its Consolidated Balance Sheets. Investments in equity securities with readily determinable fair values (marketable) are measured at fair value, with changes in the fair value recognized as a component of Noninterest income in the Company's Consolidated Statements of Income. Investments in equity investments that do not have readily determinable fair values (nonmarketable) are accounted for at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer, also referred to as the measurement alternative. Any adjustments to the carrying value of these investments are recorded in Noninterest income in the Company's Consolidated Statements of Income. For additional information on the Company's equity securities, see Note 9 , “Other Assets,” and Note 16 , “Fair Value Election and Measurement.” Derivative Instruments and Hedging Activities The Company records derivative contracts at fair value in the Consolidated Balance Sheets. Accounting for changes in the fair value of a derivative depends upon whether or not it has been designated in a formal, qualifying hedging relationship. Changes in the fair value of derivatives not designated in a hedging relationship are recorded in noninterest income. This includes derivatives that the Company enters into in a dealer capacity to facilitate client transactions and as a risk management tool to economically hedge certain identified risks, along with certain IRLC s on residential mortgage and commercial loans that are a normal part of the Company’s operations. The Company also evaluates contracts, such as brokered deposits and debt, to determine whether any embedded derivatives are required to be bifurcated and separately accounted for as freestanding derivatives. Certain derivatives used as risk management tools are designated as accounting hedges of the Company’s exposure to changes in interest rates or other identified market risks. The Company prepares written hedge documentation for all derivatives which are designated as hedges of (i) changes in the fair value of a recognized asset or liability (fair value hedge) attributable to a specified risk or (ii) a forecasted transaction, such as the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge). The written hedge documentation includes identification of, among other items, the risk management objective, hedging instrument, hedged item and methodologies for assessing and measuring hedge effectiveness, along with support for management’s assertion that the hedge will be highly effective. Methodologies related to hedge effectiveness include (i) statistical regression analysis of changes in the cash flows of the actual derivative and hypothetical derivatives, or (ii) statistical regression analysis of changes in the fair values of the actual derivative and the hedged item. For designated hedging relationships, subsequent to the initial assessment of hedge effectiveness, the Company generally performs retrospective and prospective effectiveness testing using a qualitative approach. Assessments of hedge effectiveness are performed at least quarterly. Changes in the fair value of a derivative that is highly effective and that has been designated and qualifies as a fair value hedge are recorded in current period earnings, in the same line item with the changes in the fair value of the hedged item that are attributable to the hedged risk. The changes in the fair value of a derivative that is highly effective and that has been designated and qualifies as a cash flow hedge is initially recorded in AOCI and reclassified to earnings in the same period that the hedged item impacts earnings. The amount reclassified to earnings is recorded in the same line item as the earnings effect of the hedged item. Hedge accounting ceases for hedging relationships that are no longer deemed effective, or for which the derivative has been terminated or de-designated. For discontinued fair value hedges where the hedged item remains outstanding, the hedged item would cease to be remeasured at fair value attributable to changes in the hedged risk and any existing basis adjustment would be recognized as an adjustment to net interest income over the remaining life of the hedged item. For discontinued cash flow hedges, the unrealized gains and losses recorded in AOCI would be reclassified to earnings in the period when the previously designated hedged cash flows occur unless it was determined that transaction was probable to not occur, in which case any unrealized gains and losses in AOCI would be immediately reclassified to earnings. It is the Company's policy to offset derivative transactions with a single counterparty as well as any cash collateral paid to and received from that counterparty for derivative contracts that are subject to ISDA or other legally enforceable netting arrangements and meet accounting guidance for offsetting treatment. For additional information on the Company’s derivative activities, see Note 15 , “Derivative Financial Instruments,” and Note 16 , “Fair Value Election and Measurement.” Subsequent Events The Company evaluated events that occurred between September 30, 2018 and the date the accompanying financial statements were issued, and there were no material events, other than those already discussed in this Form 10-Q , that would require recognition in the Company's Consolidated Financial Statements or disclosure in the accompanying Notes. Accounting Pronouncements The following table summarizes ASU s issued by the FASB that were adopted during the current year or not yet adopted as of September 30, 2018 , that could have a material effect on the Company's financial statements: Standard Description Required Date of Adoption Effect on the Financial Statements or Other Significant Matters Standards Adopted in 2018 ASU 2014-09, Revenue from Contracts with Customers (ASC Topic 606) and subsequent related ASUs These ASUs comprise ASC Topic 606, Revenue from Contracts with Customers , which supersede the revenue recognition requirements in ASC Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Industry Topics of the ASC. The core principle of these ASUs is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. January 1, 2018 The Company adopted these ASUs on a modified retrospective basis beginning January 1, 2018. Upon adoption, the Company recognized an immaterial cumulative effect adjustment that resulted in a decrease to the beginning balance of retained earnings as of January 1, 2018. Furthermore, the Company prospectively changed the presentation of certain types of revenue and expenses, such as underwriting revenue within investment banking income which is shown on a gross basis, and certain cash promotions and card network expenses, which were reclassified from noninterest expense to service charges on deposit accounts, card fees, and other charges and fees. The net quantitative impact of these presentation changes decreased both revenue and expenses by $9 million and $16 million for the three and nine months ended September 30, 2018, respectively; however, these presentation changes did not have an impact on net income. Prior period balances have not been restated to reflect these presentation changes. See Note 2, “Revenue Recognition,” for disclosures relating to ASC Topic 606. Standard Description Required Date of Adoption Effect on the Financial Statements or Other Significant Matters Standards Adopted in 2018 (continued) ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities; and ASU 2018-03, Technical Corrections and Improvements to Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities These ASUs amend ASC Topic 825, Financial Instruments-Overall , and address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The main provisions require most investments in equity securities to be measured at fair value through net income, unless they qualify for a measurement alternative, and require fair value changes arising from changes in instrument-specific credit risk for financial liabilities that are measured under the fair value option to be recognized in other comprehensive income. With the exception of disclosure requirements and the application of the measurement alternative for certain equity investments that was adopted prospectively, these ASUs must be adopted on a modified retrospective basis. January 1, 2018 Early adoption was permitted for the provision related to changes in instrument-specific credit risk for financial liabilities under the FVO. The Company early adopted the provision related to changes in instrument-specific credit risk beginning January 1, 2016, which resulted in an immaterial cumulative effect adjustment from retained earnings to AOCI. See Note 1, “Significant Accounting Policies,” to the Company's 2016 Annual Report on Form 10-K for additional information regarding the early adoption of this provision. Additionally, the Company adopted the remaining provisions of these ASUs beginning January 1, 2018, which resulted in an immaterial cumulative effect adjustment to the beginning balance of retained earnings. In connection with the adoption of these ASUs, an immaterial amount of equity securities previously classified as securities AFS were reclassified to other assets, as the AFS classification is no longer permitted for equity securities under these ASUs. Subsequent to adoption of these ASUs, the Company recognized net gains on certain of its equity investments during the three and nine months ended September 30, 2018. For additional information relating to these net gains, see Note 9, “Other Assets,” and Note 16, “Fair Value Election and Measurement.” The remaining provisions and disclosure requirements of these ASUs did not have a material impact on the Company's Consolidated Financial Statements or related disclosures upon adoption. ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments This ASU amends ASC Topic 230, Statement of Cash Flows , to clarify the classification of certain cash receipts and payments within the Company's Consolidated Statements of Cash Flows. These items include: cash payments for debt prepayment or debt extinguishment costs; cash outflows for the settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned and bank-owned life insurance policies; distributions received from equity method investees; and beneficial interests acquired in securitization transactions. The ASU also clarifies that when no specific U.S. GAAP guidance exists and the source of the cash flows are not separately identifiable, the predominant source of cash flow should be used to determine the classification for the item. The ASU must be adopted on a retrospective basis. January 1, 2018 The Company adopted this ASU on a retrospective basis effective January 1, 2018 and changed the presentation of certain cash payments and receipts within its Consolidated Statements of Cash Flows. Specifically, the Company changed the presentation of proceeds from the settlement of bank-owned life insurance policies from operating activities to investing activities. The Company also changed the presentation of cash payments for bank-owned life insurance policy premiums from operating activities to investing activities. Lastly, for contingent consideration payments made more than three months after a business combination, the Company changed the presentation for the portion of the cash payment up to the acquisition date fair value of the contingent consideration as a financing activity and any amount paid in excess of the acquisition date fair value as an operating activity. For the nine months ended September 30, 2018 and 2017, the Company reclassified $201 million and $127 million, respectively, of cash payments for bank-owned life insurance policy premiums and an immaterial amount of proceeds from the settlement of bank-owned life insurance policies from operating activities to investing activities on the Company’s Consolidated Statements of Cash Flows. The remaining presentation change described above was immaterial for both the nine months ended September 30, 2018 and 2017. ASU 2017-09, Stock Compensation (Topic 718): Scope of Modification Accounting This ASU amends ASC Topic 718, Stock Compensation , to provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting per ASC Topic 718, Stock Compensation . The amendments clarify that modification accounting only applies to an entity if the fair value, vesting conditions, or classification of the award changes as a result of changes in the terms or conditions of a share-based payment award. The ASU should be applied prospectively to awards modified on or after the adoption date. January 1, 2018 The Company adopted this ASU on January 1, 2018 and upon adoption, the ASU did not have a material impact on the Company's Consolidated Financial Statements or related disclosures. Standard Description Required Date of Adoption Effect on the Financial Statements or Other Significant Matters Standards Adopted in 2018 (continued) ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities This ASU amends ASC Topic 815, Derivatives and Hedging, to simplify the requirements for hedge accounting. Key amendments include: eliminating the requirement to separately measure and report hedge ineffectiveness, requiring changes in the value of the hedging instrument to be presented in the same income statement line as the earnings effect of the hedged item, and the ability to measure the hedged item based on the benchmark interest rate component of the total contractual coupon for fair value hedges. These changes expand the types of risk management strategies eligible for hedge accounting. The ASU also permits entities to qualitatively assert that a hedging relationship was and continues to be highly effective. New incremental disclosures are required for reporting periods subsequent to the date of adoption. All transition requirements and elections should be applied to hedging relationships existing on the date of adoption using a modified retrospective approach. January 1, 2019 Early adoption is permitted. The Company early adopted this ASU beginning January 1, 2018 and modified its measurement methodology for certain hedged items designated under fair value hedge relationships. The Company elected to perform its subsequent assessments of hedge effectiveness using a qualitative, rather than a quantitative, approach. The adoption resulted in an immaterial cumulative effect adjustment to the opening balance of retained earnings and a basis adjustment to the related hedged items arising from measuring the hedged items based on the benchmark interest rate component of the total contractual coupon of the fair value hedges. For additional information on the Company’s derivative and hedging activities, see Note 15, “Derivative Financial Instruments.” ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from AOCI This ASU amends ASC Topic 220, Income Statement - Reporting Comprehensive Income, to allow for a reclassification from AOCI to Retained earnings for the tax effects stranded in AOCI as a result of the remeasurement of DTAs and DTLs for the change in the federal corporate tax rate pursuant to the 2017 Tax Act, which was recognized through the income tax provision in 2017. The Company may apply this ASU at the beginning of the period of adoption or retrospectively to all periods in which the 2017 Tax Act is enacted. January 1, 2019 The Company early adopted this ASU beginning January 1, 2018. Upon adoption of this ASU, the Company elected to reclassify $182 million of stranded tax effects relating to securities AFS, derivative instruments, credit risk on long-term debt, and employee benefit plans from AOCI to retained earnings. This amount was offset by $28 million of stranded tax effects relating to equity securities previously classified as securities AFS, resulting in a net $154 million increase to retained earnings. ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement This ASU amends ASC Topic 820, Fair Value Measurement , to add new disclosure requirements, as well as to modify and remove certain disclosure requirements to improve the effectiveness of disclosures in the notes to financial statements. In the initial period of adoption, the Company will be required to disclose the average of significant unobservable inputs used to develop level 3 fair value measurements and to disclose information about the measurement uncertainty around these measurements on a prospective basis. All other amendments of this ASU must be applied retrospectively to all periods presented upon adoption. January 1, 2020 Early adoption is permitted. The Company early adopted this ASU beginning September 30, 2018 and modified its fair value disclosures accordingly. The adoption of this ASU did not have an impact on the Company's Consolidated Financial Statements. See Note 16, “Fair Value Election and Measurement,” for the Company's fair value disclosures. Standard Description Required Date of Adoption Effect on the Financial Statements or Other Significant Matters Standards Not Yet Adopted ASU 2016-02, Leases (ASC Topic 842) and subsequent related ASUs This ASU creates ASC Topic 842, Leases , which supersedes ASC Topic 840, Leases . ASC Topic 842 requires lessees to recognize right-of-use assets and associated liabilities that arise from leases, with the exception of short-term leases. The ASU does not make significant changes to lessor accounting; however, there were certain improvements made to align lessor accounting with the lessee accounting model and ASC Topic 606, Revenue from Contracts with Customers . There are several new qualitative and quantitative disclosures required. Upon transition, lessees and lessors have the option to: - Recognize and measure leases at the beginning of the earliest period presented using a modified retrospective transition approach, or - Apply a modified retrospective transition approach as of the date of adoption. January 1, 2019 Early adoption is permitted. The Company has formed a cross-functional team to oversee the implementation of this ASU. The Company's implementation efforts are ongoing, including the review of its lease portfolios and related lease accounting policies, the review of its service contracts for embedded leases, and the deployment of a new lease software solution. Additionally, in conjunction with this implementation, the Company is reviewing business processes and evaluating potential changes to its control environment. The Company will adopt this ASU on January 1, 2019, which will result in an increase in right-of-use assets and associated lease liabilities, arising from operating leases in which the Company is the lessee, on its Consolidated Balance Sheets. The amount of the right-of-use assets and associated lease liabilities recorded upon adoption will be based primarily on the present value of unpaid future minimum lease payments, the amount of which will depend on the population of leases in effect at the date of adoption. At September 30, 2018, the Company’s estimate of right-of-use assets and lease liabilities that would be recorded on its Consolidated Balance Sheets upon adoption was between $1.0 billion and $1.5 billion. The Company expects to recognize a cumulative effect adjustment upon adoption to increase the beginning balance of retained earnings as of January 1, 2019 for remaining deferred gains on sale-leaseback transactions which occurred prior to the date of adoption. The Company had approximately $44 million of deferred gains on sale-leaseback transactions as of September 30, 2018. The Company does not expect this ASU to have a material impact on the timing of expense recognition in its Consolidated Statements of Income. ASU 2016-13, Measurement of Credit Losses on Financial Instruments This ASU adds ASC Topic 326, Financial Instruments - Credit Losses , to replace the incurred loss impairment methodology with a current expected credit loss methodology for financial instruments measured at amortized cost and other commitments to extend credit. For this purpose, expected credit losses reflect losses over the remaining contractual life of an asset, considering the effect of voluntary prepayments and considering available information about the collectability of cash flows, including information about past events, current conditions, and reasonable and supportable forecasts. The resulting allowance for credit losses is deducted from the amortized cost basis of the financial assets to reflect the net amount expected to be collected on the financial assets. Additional quantitative and qualitative disclosures are required upon adoption. The change to the allowance for credit losses at the time of the adoption will be made with a cumulative effect adjustment to Retained earnings. January 1, 2020 The Company has formed a cross-functional team to oversee the implementation of this ASU. A detailed implementation plan has been developed and substantial progress has been made on the identification and staging of data, development and validation of models, refinement of economic forecasting processes, and documentation of accounting policy decisions. Additionally, a new credit loss platform is being implemented to host data and run models in a controlled, automated environment. In conjunction with this implementation, the Company is reviewing business processes and evaluating potential changes to the control environment. ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment This ASU amends ASC Topic 350, Intangibles - Goodwill and Other , to simplify the subsequent measurement of goodwill, by eliminating Step 2 from the goodwill impairment test. The amendments require an entity to perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. This ASU requires an entity to recognize an impairment charge for the amount by which a reporting unit's carrying amount exceeds its fair value, with the loss limited to the total amount of goodwill allocated to that reporting unit. The ASU must be applied on a prospective basis. January 1, 2020 Early adoption is permitted. Based on the Company's most recent annual goodwill impairment test performed as of October 1, 2017, there were no reporting units for which the carrying amount of the reporting unit exceeded its fair value; therefore, this ASU would not currently have an impact on the Company's Consolidated Financial Statements or related disclosures. However, if upon the adoption date, which is expected to occur on January 1, 2020, the carrying amount of a reporting unit exceeds its fair value, the Company would be required to recognize an impairment charge for the amount that the carrying value exceeds the fair value. Standard Description Required Date of Adoption Effect on the Financial Statements or Other Significant Matters Standards Not Yet Adopted (continued) ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans This ASU amends ASC Subtopic 715-20, Compensation - Retirement Benefits - Defined Benefit Plans - General , to add new disclosure requirements, as well as to remove certain disclosure requirements to improve the effectiveness of disclosures in the notes to financial statements. The ASU must be adopted on a retrospective basis. December 31, 2020 Early adoption is permitted. The Company is in the process of evaluating this ASU and does not expect this ASU to have a material impact on its Consolidated Financial Statements or related disclosures. ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract This ASU amends ASC Subtopic 350-40, Intangibles - Goodwill and Other - Internal-Use Software , to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The Company may apply this ASU either retrospectively, or prospectively to all implementation costs incurred after the date of adoption. January 1, 2020 Early adoption is permitted. The Company is in the process of evaluating this ASU. The Company’s current accounting policy for capitalizing implementation costs incurred in a hosting arrangement generally aligns with the requirements of this ASU. Therefore, the Company's adoption of this ASU is not expected to have a material impact on the Company’s Consolidated Financial Statements or related disclosures. |
Revenue Recognition (Notes)
Revenue Recognition (Notes) | 9 Months Ended |
Sep. 30, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contract with Customer [Text Block] | NOTE 2 – REVENUE RECOGNITION Pursuant to the Company's adoption of ASC Topic 606, Revenue from Contracts with Customers , the following disclosures discuss the Company's revenue recognition accounting policies. The Company recognizes two primary types of revenue: Interest income and noninterest income. Interest Income The Company’s principal source of revenue is interest income from loans and securities, which is recognized on an accrual basis using the effective interest method. For additional information on the Company’s policies for recognizing interest income on loans and securities, see Note 1 , “Significant Accounting Policies,” in the Company’s 2017 Annual Report on Form 10-K. Interest income is not within the scope of ASC Topic 606. Noninterest Income Noninterest income includes revenue from various types of transactions and services provided to clients. The following table reflects the Company’s noninterest income disaggregated by the amount of revenue that is in scope and out of scope of ASC Topic 606. (Dollars in millions) Three Months Ended September 30 Nine Months Ended September 30 Noninterest income 2018 2017 2018 2017 Revenue in scope of ASC Topic 606 $508 $530 $1,514 $1,571 Revenue out of scope of ASC Topic 606 274 316 894 949 Total noninterest income $782 $846 $2,408 $2,520 The following tables further disaggregate the Company’s noninterest income by financial statement line item, business segment, and by the amount of each revenue stream that is in scope or out of scope of ASC Topic 606. The commentary following these tables describes the nature, amount, and timing of the related revenue streams. Three Months Ended September 30, 2018 1 (Dollars in millions) Consumer 2 Wholesale 2 Out of Scope 2, 3 Total Noninterest income Service charges on deposit accounts $111 $33 $— $144 Other charges and fees 4 28 3 58 89 Card fees 49 26 — 75 Investment banking income 4 — 101 49 150 Trading income — — 42 42 Trust and investment management income 79 — 1 80 Retail investment services 73 — 1 74 Mortgage servicing related income — — 43 43 Mortgage production related income — — 40 40 Commercial real estate related income — — 24 24 Net securities gains — — — — Other noninterest income 5 — 16 21 Total noninterest income $345 $163 $274 $782 1 Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers , except for out of scope amounts. 2 Consumer total noninterest income and Wholesale total noninterest income exclude $100 million and $210 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 18 , "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($36) million of Corporate Other noninterest income that is not subject to ASC Topic 606. 3 The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income. 4 Beginning July 1, 2018, the Company began presenting bridge commitment fee income related to capital market transactions in Investment banking income on the Consolidated Statements of Income. For periods prior to July 1, 2018, this income was previously presented in Other charges and fees and has been reclassified to Investment banking income for comparability. Three Months Ended September 30, 2017 1 (Dollars in millions) Consumer 2 Wholesale 2 Out of Scope 2, 3 Total Noninterest income Service charges on deposit accounts $119 $35 $— $154 Other charges and fees 4 29 3 57 89 Card fees 58 27 1 86 Investment banking income 4 — 106 63 169 Trading income — — 51 51 Trust and investment management income 78 — 1 79 Retail investment services 69 — — 69 Mortgage servicing related income — — 46 46 Mortgage production related income — — 61 61 Commercial real estate related income — — 17 17 Net securities gains — — — — Other noninterest income 6 — 19 25 Total noninterest income $359 $171 $316 $846 1 Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition , and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers . 2 Consumer total noninterest income and Wholesale total noninterest income exclude $123 million and $226 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 18 , "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($33) million of Corporate Other noninterest income that is not subject to ASC Topic 606. 3 The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income. 4 Beginning July 1, 2018, the Company began presenting bridge commitment fee income related to capital market transactions in Investment banking income on the Consolidated Statements of Income. For periods prior to July 1, 2018, this income was previously presented in Other charges and fees and has been reclassified to Investment banking income for comparability. Nine Months Ended September 30, 2018 1 (Dollars in millions) Consumer 2 Wholesale 2 Out of Scope 2, 3 Total Noninterest income Service charges on deposit accounts $330 $103 $— $433 Other charges and fees 4 85 8 171 264 Card fees 160 78 3 241 Investment banking income 4 — 287 166 453 Trading income — — 137 137 Trust and investment management income 228 — 2 230 Retail investment services 216 2 1 219 Mortgage servicing related income — — 138 138 Mortgage production related income — — 118 118 Commercial real estate related income — — 66 66 Net securities gains — — 1 1 Other noninterest income 17 — 91 108 Total noninterest income $1,036 $478 $894 $2,408 1 Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers , except for out of scope amounts. 2 Consumer total noninterest income and Wholesale total noninterest income exclude $313 million and $646 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 18 , "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($65) million of Corporate Other noninterest income that is not subject to ASC Topic 606. 3 The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income. 4 Beginning July 1, 2018, the Company began presenting bridge commitment fee income related to capital market transactions in Investment banking income on the Consolidated Statements of Income. For periods prior to July 1, 2018, this income was previously presented in Other charges and fees and has been reclassified to Investment banking income for comparability. Nine Months Ended September 30, 2017 1 (Dollars in millions) Consumer 2 Wholesale 2 Out of Scope 2, 3 Total Noninterest income Service charges on deposit accounts $344 $109 $— $453 Other charges and fees 4 93 9 168 270 Card fees 172 81 2 255 Investment banking income 4 — 309 192 501 Trading income — — 148 148 Trust and investment management income 227 — 2 229 Retail investment services 206 1 1 208 Mortgage servicing related income — — 148 148 Mortgage production related income — — 170 170 Commercial real estate related income — — 61 61 Net securities gains — — 1 1 Other noninterest income 20 — 56 76 Total noninterest income $1,062 $509 $949 $2,520 1 Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition , and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers . 2 Consumer total noninterest income and Wholesale total noninterest income exclude $365 million and $660 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 18 , "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($76) million of Corporate Other noninterest income that is not subject to ASC Topic 606. 3 The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income. 4 Beginning July 1, 2018, the Company began presenting bridge commitment fee income related to capital market transactions in Investment banking income on the Consolidated Statements of Income. For periods prior to July 1, 2018, this income was previously presented in Other charges and fees and has been reclassified to Investment banking income for comparability. Service Charges on Deposit Accounts Service charges on deposit accounts represent fees relating to the Company’s various deposit products. These fees include account maintenance, cash management, treasury management, wire transfers, overdraft and other deposit-related fees. The Company’s execution of the services related to these fees represents its related performance obligations. Each of these performance obligations are either satisfied over time or at a point in time as the services are provided to the customer. The Company is the principal when rendering these services. Payments for services provided are either withdrawn from the customer’s account as services are rendered or in the billing period following the completion of the service. The transaction price for each of these fees is based on the Company’s predetermined fee schedule. Other Charges and Fees Other charges and fees consist primarily of loan commitment and letter of credit fees, operating lease revenue, ATM fees, insurance revenue, and miscellaneous service charges including wire fees and check cashing fees. Loan commitment and letter of credit fees and operating lease revenue are out of scope of ASC Topic 606. The Company’s execution of the services related to the fees within the scope of ASC Topic 606 represents its related performance obligations, which are either satisfied at a point in time or over time as services are rendered. ATM fees and miscellaneous service charges are recognized at a point in time as the services are provided. Insurance commission revenue is earned through the sale of insurance products. The commissions are recognized as revenue when the customer executes an insurance policy with the insurance carrier. In some cases, the Company receives payment of trailing commissions each year when the customer pays its annual premium. For both the three and nine months ended September 30, 2018 , the Company recognized an immaterial amount of insurance trailing commissions related to performance obligations satisfied in prior periods. Card Fees Card fees consist of interchange fees from credit and debit cards, merchant acquirer revenue, and other card related services. Interchange fees are earned by the Company each time a request for payment is initiated by a customer at a merchant for which the Company transfers the funds on behalf of the customer. Interchange rates are set by the payment network and are based on purchase volumes and other factors. Interchange fees are received daily and recognized at a point in time when the card transaction is processed. The Company is considered an agent of the customer and incurs costs with the payment network to facilitate the interchange with the merchant; therefore, the related payment network expense is recognized as a reduction of card fees. Prior to the adoption of ASC Topic 606, these expenses were recognized in Outside processing and software in the Company's Consolidated Statements of Income. The Company offers rewards and/or rebates to its customers based on card usage. The costs associated with these programs are recognized as a reduction of card fees. The Company also has a revenue sharing agreement with a merchant acquirer. The Company’s referral of a merchant to the merchant acquirer represents its related performance obligation, which is satisfied at a point in time when the referral is made. Monthly revenue is estimated based on the expected amount of transactions processed. Payments are generally made by the merchant acquirer quarterly in the month following the quarter in which the services are rendered. Investment Banking Income Investment banking income is comprised primarily of securities underwriting fees, advisory fees, and loan syndication fees. The Company assists corporate clients in raising capital by offering equity or debt securities to potential investors. The underwriting fees are earned on the trade date when the Company, as a member of an underwriting syndicate, purchases the securities from the issuer and sells the securities to third party investors. Each member of the syndicate is responsible for selling its portion of the underwriting and is liable for the proportionate costs of the underwriting; therefore, the Company’s portion of underwriting revenue and expense is presented gross within noninterest income and noninterest expense. Prior to the adoption of ASC Topic 606, underwriting expense was recorded as a reduction of investment banking income. The transaction price is based on a percentage of the total transaction amount and payments are settled shortly after the trade date. Loan syndication fees are typically recognized at the closing of a loan syndication transaction. These fees are out of the scope of ASC Topic 606. The Company also provides merger and acquisition advisory services, including various activities such as business valuation, identification of potential targets or acquirers, and the issuance of fairness opinions. The Company’s execution of these advisory services represents its related performance obligations. The performance obligations relating to advisory services are fulfilled at a point in time upon completion of the contractually specified merger or acquisition. The transaction price is based on contractually specified terms agreed upon with the client for each advisory service. Additionally, payments for advisory services consist of upfront retainer fees and success fees at the date the related merger or acquisition is closed. The retainer fees are typically paid upfront, which creates a contract liability. At September 30, 2018 , the contract liability relating to these retainer fees was immaterial. Revenue related to trade execution services is earned on the trade date and recognized at a point in time. The fees related to trade execution services are due on the settlement date. Trading Income The Company recognizes trading income as a result of gains and losses from the sales of trading account assets and liabilities. The Company also recognizes trading income as a result of changes in the fair value of trading account assets and liabilities that it holds. The Company’s trading accounts include various types of debt and equity securities, trading loans, and derivative instruments. For additional information relating to trading income, see Note 15 , “Derivative Financial Instruments,” and Note 16 , “Fair Value Election and Measurement.” Trust and Investment Management Income Trust and investment management income includes revenue from custodial services, trust administration, financial advisory services, employee benefit solutions, and other services provided to customers within the Consumer business segment. The Company generally recognizes trust and investment management revenue over time as services are rendered. Revenue is based on either a percentage of the market value of the assets under management, or advisement, or fixed based on the services provided to the customer. Fees are generally swept from the customer’s account one billing period in arrears based on the prior period’s assets under management or advisement. Retail Investment Services Retail investment services consists primarily of investment management, selling and distribution services, and trade execution services. The Company’s execution of these services represents its related performance obligations. Investment management fees are generally recognized over time as services are rendered and are based on either a percentage of the market value of the assets under management, or advisement, or fixed based on the services provided to the customer. The fees are calculated quarterly and are usually collected at the beginning of the period from the customer’s account and recognized ratably over the related billing period. The Company also offers selling and distribution services and earns commissions through the sale of annuity and mutual fund products. The Company acts as an agent in these transactions and recognizes revenue at a point in time when the customer enters into an agreement with the product carrier. The Company may also receive trailing commissions and 12b-1 fees related to mutual fund and annuity products, and recognizes this revenue in the period that they are realized since the revenue cannot be accurately predicted at the time the policy becomes effective. The Company recognized revenue of $12 million and $38 million for the three and nine months ended September 30, 2018 , respectively, which relates to mutual fund 12b-1 fees and annuity trailing commissions from performance obligations satisfied in periods prior to September 30, 2018 . Trade execution commissions are earned and recognized on the trade date, when the Company executes a trade for a customer. Payment for the trade execution is due on the settlement date. Mortgage Servicing Related Income The Company recognizes as assets the rights to service mortgage loans, either when the loans are sold and the associated servicing rights are retained or when servicing rights are purchased from a third party. Mortgage servicing related income includes servicing fees, modification fees, fees for ancillary services, other fees customarily associated with servicing arrangements, gains or losses from hedging, and changes in the fair value of residential MSRs inclusive of decay resulting from the realization of monthly net servicing cash flows. For additional information relating to mortgage servicing related income, see Note 1 , “Significant Accounting Policies,” in the Company’s 2017 Annual Report on Form 10-K, and Note 8 , “Goodwill and Other Intangible Assets,” Note 15 , “Derivative Financial Instruments,” and Note 16 , “Fair Value Election and Measurement,” in this Form 10-Q . Mortgage Production Related Income Mortgage production related income is comprised primarily of activity related to the sale of consumer mortgage loans as well as loan origination fees such as closing charges, document review fees, application fees, other loan origination fees, and loan processing fees. For additional information relating to mortgage production related income, see Note 1 , “Significant Accounting Policies,” in the Company’s 2017 Annual Report on Form 10-K, and Note 15 , “Derivative Financial Instruments,” and Note 16 , “Fair Value Election and Measurement,” in this Form 10-Q . Commercial Real Estate Related Income Commercial real estate related income consists primarily of origination fees, such as loan placement and broker fees, gains and losses on the sale of commercial loans, commercial mortgage loan servicing fees, income from community development investments, gains and losses from the sale of structured real estate, and other fee income, such as asset advisory fees. For additional information relating to commercial real estate related income, see Note 1 , “Significant Accounting Policies,” in the Company’s 2017 Annual Report on Form 10-K, and Note 8 , “Goodwill and Other Intangible Assets,” Note 15 , “Derivative Financial Instruments,” and Note 16 , “Fair Value Election and Measurement,” in this Form 10-Q . Net Securities Gains or Losses The Company recognizes net securities gains or losses primarily as a result of the sale of securities AFS and the recognition of any OTTI on securities AFS. For additional information relating to net securities gains or losses, see Note 5 , “Investment Securities.” Other Noninterest Income Other noninterest income within the scope of ASC Topic 606 consists primarily of fees from the sale of customized personal checks. The Company serves as an agent for customers by connecting them with a third party check provider. Revenue from such sales are earned in the form of commissions from the third party check provider and is recognized at a point in time on the date the customer places an order. Commissions for personal check orders are credited to revenue on an ongoing basis, and commissions for commercial check orders are received quarterly in arrears. Other noninterest income also includes income from bank-owned life insurance policies that is not within the scope of ASC Topic 606. Income from bank-owned life insurance primarily represents changes in the cash surrender value of such life insurance policies held on certain key employees, for which the Company is the owner and beneficiary. Revenue is recognized in each period based on the change in the cash surrender value during the period. Practical Expedients and Other The Company has elected the practical expedient to exclude disclosure of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which the Company recognizes revenue at the amount to which the Company has the right to invoice for services performed. The Company pays sales commissions as a cost to obtain certain contracts within the scope of ASC Topic 606; however, sales commissions relating to these contracts are generally expensed when incurred because the amortization period would be one year or less. Sales commissions are recognized as employee compensation within Noninterest expense on the Company’s Consolidated Statements of Income. At September 30, 2018 , the Company does not have any material contract assets, liabilities, or other receivables recorded on its Consolidated Balance Sheets, relating to its revenue streams within the scope of ASC Topic 606. Additionally, the Company's contracts generally do not contain terms that require significant judgment to determine the amount of revenue to recognize. |
Federal Funds Sold and Securiti
Federal Funds Sold and Securities Financing Activities | 9 Months Ended |
Sep. 30, 2018 | |
Securities Purchased under Agreements to Resell [Abstract] | |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | NOTE 3 - FEDERAL FUNDS SOLD AND SECURITIES FINANCING ACTIVITIES Federal Funds Sold and Securities Borrowed or Purchased Under Agreements to Resell Fed Funds sold and securities borrowed or purchased under agreements to resell were as follows: (Dollars in millions) September 30, 2018 December 31, 2017 Fed funds sold $46 $65 Securities borrowed 429 298 Securities purchased under agreements to resell 899 1,175 Total Fed funds sold and securities borrowed or purchased under agreements to resell $1,374 $1,538 Securities purchased under agreements to resell are primarily collateralized by U.S. government or agency securities and are carried at the amounts at which the securities will be subsequently resold, plus accrued interest. Securities borrowed are primarily collateralized by corporate securities. The Company borrows securities and purchases securities under agreements to resell as part of its securities financing activities. On the acquisition date of these securities, the Company and the related counterparty agree on the amount of collateral required to secure the principal amount loaned under these arrangements. The Company monitors collateral values daily and calls for additional collateral to be provided as warranted under the respective agreements. At September 30, 2018 and December 31, 2017 , the total market value of collateral held was $1.3 billion and $1.5 billion , of which $112 million and $177 million was repledged, respectively. Securities Sold Under Agreements to Repurchase Securities sold under agreements to repurchase are accounted for as secured borrowings. The following table presents the Company’s related activity, by collateral type and remaining contractual maturity: September 30, 2018 December 31, 2017 (Dollars in millions) Overnight and Continuous Up to 30 days 30-90 days Total Overnight and Continuous Up to 30 days 30-90 days Total U.S. Treasury securities $119 $23 $— $142 $95 $— $— $95 Federal agency securities 64 43 — 107 101 15 — 116 MBS - agency 772 148 — 920 694 135 — 829 CP 19 — — 19 19 — — 19 Corporate and other debt securities 356 146 40 542 316 88 40 444 Total securities sold under agreements to repurchase $1,330 $360 $40 $1,730 $1,225 $238 $40 $1,503 For securities sold under agreements to repurchase, the Company would be obligated to provide additional collateral in the event of a significant decline in fair value of the collateral pledged. This risk is managed by monitoring the liquidity and credit quality of the collateral, as well as the maturity profile of the transactions. Netting of Securities - Repurchase and Resell Agreements The Company has various financial assets and financial liabilities that are subject to enforceable master netting agreements or similar agreements. The Company's derivatives that are subject to enforceable master netting agreements or similar agreements are discussed in Note 15 , "Derivative Financial Instruments." The following table presents the Company's securities borrowed or purchased under agreements to resell and securities sold under agreements to repurchase that are subject to MRA s. Generally, MRA s require collateral to exceed the asset or liability recognized on the balance sheet. Transactions subject to these agreements are treated as collateralized financings, and those with a single counterparty are permitted to be presented net on the Company's Consolidated Balance Sheets, provided certain criteria are met that permit balance sheet netting. At September 30, 2018 and December 31, 2017 , there were no such transactions subject to legally enforceable MRA s that were eligible for balance sheet netting. The following table includes the amount of collateral pledged or received related to exposures subject to enforceable MRA s. While these agreements are typically over-collateralized, the amount of collateral presented in this table is limited to the amount of the related recognized asset or liability for each counterparty. (Dollars in millions) Gross Amount Amount Offset Net Amount Presented in Consolidated Balance Sheets Held/Pledged Financial Instruments Net Amount September 30, 2018 Financial assets: Securities borrowed or purchased under agreements to resell $1,328 $— $1,328 1 $1,309 $19 Financial liabilities: Securities sold under agreements to repurchase 1,730 — 1,730 1,730 — December 31, 2017 Financial assets: Securities borrowed or purchased under agreements to resell $1,473 $— $1,473 1 $1,462 $11 Financial liabilities: Securities sold under agreements to repurchase 1,503 — 1,503 1,503 — 1 Excludes $46 million and $65 million of Fed Funds sold, which are not subject to a master netting agreement at September 30, 2018 and December 31, 2017 , respectively. |
Trading Assets and Liabilities
Trading Assets and Liabilities and Derivatives Trading Assets and Liabilities and Derivatives | 9 Months Ended |
Sep. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Trading Assets and Liabilities and Derivatives [Text Block] | NOTE 4 - TRADING ASSETS AND LIABILITIES AND DERIVATIVE INSTRUMENTS The fair values of the components of trading assets and liabilities and derivative instruments are presented in the following table: (Dollars in millions) September 30, 2018 December 31, 2017 Trading Assets and Derivative Instruments: U.S. Treasury securities $247 $157 Federal agency securities 507 395 U.S. states and political subdivisions 91 61 MBS - agency 743 700 Corporate and other debt securities 820 655 CP 408 118 Equity securities 67 56 Derivative instruments 1 622 802 Trading loans 2 2,171 2,149 Total trading assets and derivative instruments $5,676 $5,093 Trading Liabilities and Derivative Instruments: U.S. Treasury securities $742 $577 Corporate and other debt securities 411 289 Equity securities 12 9 Derivative instruments 1 698 408 Total trading liabilities and derivative instruments $1,863 $1,283 1 Amounts include the impact of offsetting cash collateral received from and paid to the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. 2 Includes loans related to TRS . Various trading and derivative instruments are used as part of the Company’s overall balance sheet management strategies and to support client requirements executed through the Bank and/or STRH , a broker/dealer subsidiary of the Company. The Company manages the potential market volatility associated with trading instruments by using appropriate risk management strategies. The size, volume, and nature of the trading products and derivative instruments can vary based on economic conditions as well as client-specific and Company-specific asset or liability positions. Product offerings to clients include debt securities, loans traded in the secondary market, equity securities, derivative contracts, and other similar financial instruments. Other trading-related activities include acting as a market maker for certain debt and equity security transactions, derivative instrument transactions, and foreign exchange transactions. The Company also uses derivatives to manage its interest rate and market risk from non-trading activities. The Company has policies and procedures to manage market risk associated with client trading and non-trading activities, and assumes a limited degree of market risk by managing the size and nature of its exposure. For valuation assumptions and additional information related to the Company's trading products and derivative instruments, see Note 15 , “Derivative Financial Instruments,” and the “ Trading Assets and Derivative Instruments and Investment Securities ” section of Note 16 , “Fair Value Election and Measurement.” Pledged trading assets are presented in the following table: (Dollars in millions) September 30, 2018 December 31, 2017 Pledged trading assets to secure repurchase agreements 1 $1,284 $1,016 Pledged trading assets to secure certain derivative agreements 76 72 Pledged trading assets to secure other arrangements 40 41 1 Repurchase agreements secured by collateral totaled $1.2 billion and $975 million at September 30, 2018 and December 31, 2017 , respectively. |
Securities Available for Sale
Securities Available for Sale | 9 Months Ended |
Sep. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities Available for Sale | NOTE 5 – INVESTMENT SECURITIES Investment Securities Portfolio Composition September 30, 2018 (Dollars in millions) Amortized Unrealized Unrealized Fair Securities AFS: U.S. Treasury securities $4,275 $— $142 $4,133 Federal agency securities 224 2 3 223 U.S. states and political subdivisions 621 3 22 602 MBS - agency residential 23,112 111 718 22,505 MBS - agency commercial 2,713 1 112 2,602 MBS - non-agency commercial 943 — 38 905 Corporate and other debt securities 14 — — 14 Total securities AFS $31,902 $117 $1,035 $30,984 December 31, 2017 1 (Dollars in millions) Amortized Unrealized Unrealized Fair Securities AFS: U.S. Treasury securities $4,361 $2 $32 $4,331 Federal agency securities 257 3 1 259 U.S. states and political subdivisions 618 7 8 617 MBS - agency residential 22,616 222 134 22,704 MBS - agency commercial 2,121 3 38 2,086 MBS - non-agency residential 55 4 — 59 MBS - non-agency commercial 862 7 3 866 ABS 6 2 — 8 Corporate and other debt securities 17 — — 17 Total securities AFS $30,913 $250 $216 $30,947 1 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability . See Note 9 , "Other Assets," for additional information. The following table presents interest on securities AFS: Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2018 2017 2018 2017 Taxable interest $207 $187 $614 $551 Tax-exempt interest 5 4 14 9 Total interest on securities AFS 1 $212 $191 $628 $560 1 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets and began presenting income associated with certain of these equity securities in Trading account interest and other on the Consolidated Statements of Income. For periods prior to January 1, 2018, this income was previously presented in Interest on securities available for sale and has been reclassified to Trading account interest and other for comparability . Investment securities pledged to secure public deposits, repurchase agreements, trusts, certain derivative agreements, and other funds had a fair value of $3.4 billion and $4.3 billion at September 30, 2018 and December 31, 2017 , respectively. The following table presents the amortized cost, fair value, and weighted average yield of the Company's investment securities at September 30, 2018 , by remaining contractual maturity, with the exception of MBS , which are based on estimated average life. Receipt of cash flows may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. Distribution of Remaining Maturities (Dollars in millions) Due in 1 Year or Less Due After 1 Year through 5 Years Due After 5 Years through 10 Years Due After 10 Years Total Amortized Cost: Securities AFS: U.S. Treasury securities $15 $2,695 $1,565 $— $4,275 Federal agency securities 113 28 8 75 224 U.S. states and political subdivisions 3 72 25 521 621 MBS - agency residential 1,619 6,488 14,736 269 23,112 MBS - agency commercial 1 467 1,937 308 2,713 MBS - non-agency commercial — 12 931 — 943 Corporate and other debt securities — 14 — — 14 Total securities AFS $1,751 $9,776 $19,202 $1,173 $31,902 Fair Value: Securities AFS: U.S. Treasury securities $15 $2,615 $1,503 $— $4,133 Federal agency securities 114 28 8 73 223 U.S. states and political subdivisions 3 75 25 499 602 MBS - agency residential 1,674 6,341 14,230 260 22,505 MBS - agency commercial 1 448 1,859 294 2,602 MBS - non-agency commercial — 12 893 — 905 Corporate and other debt securities — 14 — — 14 Total securities AFS $1,807 $9,533 $18,518 $1,126 $30,984 Weighted average yield 1 3.22 % 2.38 % 2.94 % 3.12 % 2.79 % 1 Weighted average yields are based on amortized cost and presented on an FTE basis. Investment Securities in an Unrealized Loss Position The Company held certain investment securities where amortized cost exceeded fair value, resulting in unrealized loss positions. Market changes in interest rates and credit spreads may result in temporary unrealized losses as the market prices of securities fluctuate. At September 30, 2018 , the Company did not intend to sell these securities nor was it more-likely-than-not that the Company would be required to sell these securities before their anticipated recovery or maturity. The Company reviewed its portfolio for OTTI in accordance with the accounting policies described in Note 1 , "Significant Accounting Policies," to the Company's 2017 Annual Report on Form 10-K . Investment securities in an unrealized loss position at period end are presented in the following tables: September 30, 2018 Less than twelve months Twelve months or longer Total (Dollars in millions) Fair Unrealized 1 Fair Unrealized 1 Fair Unrealized 1 Temporarily impaired securities AFS: U.S. Treasury securities $2,554 $77 $1,579 $65 $4,133 $142 Federal agency securities 16 — 62 3 78 3 U.S. states and political subdivisions 210 7 280 15 490 22 MBS - agency residential 10,347 276 8,772 442 19,119 718 MBS - agency commercial 1,029 25 1,519 87 2,548 112 MBS - non-agency commercial 781 30 124 8 905 38 Corporate and other debt securities — — 9 — 9 — Total temporarily impaired securities AFS 14,937 415 12,345 620 27,282 1,035 OTTI securities AFS 2 : Total OTTI securities AFS — — — — — — Total impaired securities AFS $14,937 $415 $12,345 $620 $27,282 $1,035 1 Unrealized losses less than $0.5 million are presented as zero within the table. 2 OTTI securities AFS are impaired securities for which OTTI credit losses have been previously recognized in earnings. December 31, 2017 1 Less than twelve months Twelve months or longer Total (Dollars in millions) Fair Value Unrealized Losses 2 Fair Value Unrealized Losses 2 Fair Value Unrealized Losses 2 Temporarily impaired securities AFS: U.S. Treasury securities $1,993 $12 $841 $20 $2,834 $32 Federal agency securities 23 — 60 1 83 1 U.S. states and political subdivisions 267 3 114 5 381 8 MBS - agency residential 8,095 38 4,708 96 12,803 134 MBS - agency commercial 887 9 915 29 1,802 38 MBS - non-agency commercial 134 1 93 2 227 3 ABS — — 4 — 4 — Corporate and other debt securities 10 — — — 10 — Total temporarily impaired securities AFS 11,409 63 6,735 153 18,144 216 OTTI securities AFS 3 : ABS — — 1 — 1 — Total OTTI securities AFS — — 1 — 1 — Total impaired securities AFS $11,409 $63 $6,736 $153 $18,145 $216 1 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability . 2 Unrealized losses less than $0.5 million are presented as zero within the table. 3 OTTI securities AFS are impaired securities for which OTTI credit losses have been previously recognized in earnings. The Company does not consider the unrealized losses on temporarily impaired securities AFS to be credit-related. These unrealized losses were due primarily to market interest rates being higher than the securities' stated coupon rates, and therefore, are recorded in AOCI, net of tax. Realized Gains and Losses and Other-Than-Temporarily Impaired Securities Net securities gains or losses are comprised of gross realized gains, gross realized losses, and OTTI credit losses recognized in earnings. Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2018 2017 2018 2017 Gross realized gains $— $1 $7 $2 Gross realized losses — (1 ) (6 ) (1 ) OTTI credit losses recognized in earnings — — — — Net securities gains $— $— $1 $1 Investment securities in an unrealized loss position are evaluated quarterly for other-than-temporary credit impairment, which is determined using cash flow analyses that take into account security specific collateral and transaction structure. Future expected credit losses are determined using various assumptions, the most significant of which include default rates, prepayment rates, and loss severities. If, based on this analysis, a security is in an unrealized loss position and the Company does not expect to recover the entire amortized cost basis of the security, the expected cash flows are then discounted at the security’s initial effective interest rate to arrive at a present value amount. Credit losses on the OTTI security are recognized in earnings and reflect the difference between the present value of cash flows expected to be collected and the amortized cost basis of the security. Subsequent credit losses may be recorded on OTTI securities without a corresponding further decline in fair value when there has been a decline in expected cash flows. See Note 1 , "Significant Accounting Policies," to the Company's 2017 Annual Report on Form 10-K for additional information regarding the Company's policy on securities AFS and related impairments. During the three and nine months ended September 30, 2018 and 2017 , there were no credit impairment losses recognized on securities AFS held at the end of each period. During the nine months ended September 30, 2018, the Company sold securities AFS that had accumulated OTTI credit losses of $23 million and recognized an associated gain on sale of $6 million in Net securities gains on the Consolidated Statements of Income. The accumulated balance of OTTI credit losses recognized in earnings on securities AFS held at period end was zero and $22 million at September 30, 2018 and 2017 , respectively. |
Loans
Loans | 9 Months Ended |
Sep. 30, 2018 | |
Receivables [Abstract] | |
Loans, Notes, Trade and Other Receivables, Excluding Allowance for Credit Losses [Text Block] | NOTE 6 - LOANS Composition of Loan Portfolio (Dollars in millions) September 30, 2018 December 31, 2017 Commercial loans: C&I 1 $68,203 $66,356 CRE 6,618 5,317 Commercial construction 3,137 3,804 Total commercial LHFI 77,958 75,477 Consumer loans: Residential mortgages - guaranteed 452 560 Residential mortgages - nonguaranteed 2 28,187 27,136 Residential home equity products 9,669 10,626 Residential construction 197 298 Guaranteed student 7,039 6,633 Other direct 10,100 8,729 Indirect 12,010 12,140 Credit cards 1,603 1,582 Total consumer LHFI 69,257 67,704 LHFI $147,215 $143,181 LHFS 3 $1,961 $2,290 1 Includes $3.8 billion and $3.7 billion of lease financing, and $838 million and $778 million of installment loans at September 30, 2018 and December 31, 2017 , respectively. 2 Includes $168 million and $196 million of LHFI measured at fair value at September 30, 2018 and December 31, 2017 , respectively. 3 Includes $1.8 billion and $1.6 billion of LHFS measured at fair value at September 30, 2018 and December 31, 2017 , respectively. During the three months ended September 30, 2018 and 2017 , the Company transferred $122 million and $91 million of LHFI to LHFS, and $5 million and $6 million of LHFS to LHFI, respectively. In addition to sales of residential and commercial mortgage LHFS in the normal course of business, the Company sold $14 million and $285 million of loans and leases during the three months ended September 30, 2018 and 2017 , respectively, at a price approximating their recorded investment. During the nine months ended September 30, 2018 and 2017 , the Company transferred $449 million and $218 million of LHFI to LHFS, and transferred $23 million and $16 million of LHFS to LHFI, respectively. In addition to sales of residential and commercial mortgage LHFS in the normal course of business, the Company sold $187 million and $513 million of loans and leases during the nine months ended September 30, 2018 and 2017 , respectively, at a price approximating their recorded investment. During the three months ended September 30, 2018 and 2017 , the Company purchased $433 million and $333 million , respectively, of guaranteed student loans. During the three months ended September 30, 2018 , the Company purchased $213 million of consumer indirect loans. No consumer indirect loans were purchased during the three months ended September 30, 2017 . During each of the nine months ended September 30, 2018 and 2017 , the Company purchased $1.4 billion of guaranteed student loans, and purchased $229 million and $99 million , respectively, of consumer indirect loans. At September 30, 2018 and December 31, 2017 , the Company had $26.1 billion and $24.3 billion of net eligible loan collateral pledged to the Federal Reserve discount window to support $19.8 billion and $18.2 billion of available, unused borrowing capacity, respectively. At September 30, 2018 and December 31, 2017 , the Company had $39.4 billion and $38.0 billion of net eligible loan collateral pledged to the FHLB of Atlanta to support $31.5 billion and $30.5 billion of available borrowing capacity, respectively. The available FHLB borrowing capacity at September 30, 2018 was used to support $3.0 billion of long-term debt and $4.3 billion of letters of credit issued on the Company's behalf. At December 31, 2017 , the available FHLB borrowing capacity was used to support $4 million of long-term debt and $6.7 billion of letters of credit issued on the Company's behalf. Credit Quality Evaluation The Company evaluates the credit quality of its loan portfolio by employing a dual internal risk rating system, which assigns both PD and LGD ratings to derive expected losses. Assignment of these ratings are predicated upon numerous factors, including consumer credit risk scores, rating agency information, borrower/guarantor financial capacity, LTV ratios, collateral type, debt service coverage ratios, collection experience, other internal metrics/analyses, and/or qualitative assessments. For the commercial portfolio, the Company believes that the most appropriate credit quality indicator is an individual loan’s risk assessment expressed according to the broad regulatory agency classifications of Pass or Criticized. The Company conforms to the following regulatory classifications for Criticized assets: Other Assets Especially Mentioned (or Special Mention), Substandard, Doubtful, and Loss. However, for the purposes of disclosure, management believes the most meaningful distinction within the Criticized categories is between Criticized accruing (which includes Special Mention and a portion of Substandard) and Criticized nonaccruing (which includes a portion of Substandard as well as Doubtful and Loss). This distinction identifies those relatively higher risk loans for which there is a basis to believe that the Company will not collect all amounts due under those loan agreements. The Company's risk rating system is more granular, with multiple risk ratings in both the Pass and Criticized categories. Pass ratings reflect relatively low PD s, whereas, Criticized assets have higher PD s. The granularity in Pass ratings assists in establishing pricing, loan structures, approval requirements, reserves, and ongoing credit management requirements. Commercial risk ratings are refreshed at least annually, or more frequently as appropriate, based upon considerations such as market conditions, borrower characteristics, and portfolio trends. Additionally, management routinely reviews portfolio risk ratings, trends, and concentrations to support risk identification and mitigation activities. For consumer loans, the Company monitors credit risk based on indicators such as delinquencies and FICO scores. The Company believes that consumer credit risk, as assessed by the industry-wide FICO scoring method, is a relevant credit quality indicator. Borrower-specific FICO scores are obtained at origination as part of the Company’s formal underwriting process, and refreshed FICO scores are obtained by the Company at least quarterly. For guaranteed loans, the Company monitors the credit quality based primarily on delinquency status, as it is a more relevant indicator of credit quality due to the government guarantee. At both September 30, 2018 and December 31, 2017 , 28% of guaranteed residential mortgages were current with respect to payments. At September 30, 2018 and December 31, 2017 , 74% and 75% , respectively, of guaranteed student loans were current with respect to payments. The Company's loss exposure on guaranteed residential mortgages and student loans is mitigated by the government guarantee. LHFI by credit quality indicator are presented in the following tables: Commercial Loans C&I CRE Commercial Construction (Dollars in millions) September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 Risk rating: Pass $66,224 $64,546 $6,418 $5,126 $3,038 $3,770 Criticized accruing 1,723 1,595 157 167 99 33 Criticized nonaccruing 256 215 43 24 — 1 Total $68,203 $66,356 $6,618 $5,317 $3,137 $3,804 Consumer Loans 1 Residential Mortgages - Nonguaranteed Residential Home Equity Products Residential Construction (Dollars in millions) September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 Current FICO score range: 700 and above $24,968 $23,602 $8,208 $8,946 $163 $240 620 - 699 2,499 2,721 1,046 1,242 27 50 Below 620 2 720 813 415 438 7 8 Total $28,187 $27,136 $9,669 $10,626 $197 $298 Other Direct Indirect Credit Cards (Dollars in millions) September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 Current FICO score range: 700 and above $9,197 $7,929 $8,967 $9,094 $1,084 $1,088 620 - 699 866 757 2,321 2,344 401 395 Below 620 2 37 43 722 702 118 99 Total $10,100 $8,729 $12,010 $12,140 $1,603 $1,582 1 Excludes $7.0 billion and $6.6 billion of guaranteed student loans and $452 million and $560 million of guaranteed residential mortgages at September 30, 2018 and December 31, 2017 , respectively, for which there was nominal risk of principal loss due to the government guarantee. 2 For substantially all loans with refreshed FICO scores below 620, the borrower’s FICO score at the time of origination exceeded 620 but has since deteriorated as the loan has seasoned. The LHFI portfolio by payment status is presented in the following tables: September 30, 2018 Accruing (Dollars in millions) Current 30-89 Days Past Due 90+ Days Past Due Nonaccruing 1 Total Commercial loans: C&I $67,897 $40 $10 $256 $68,203 CRE 6,572 2 1 43 6,618 Commercial construction 3,137 — — — 3,137 Total commercial LHFI 77,606 42 11 299 77,958 Consumer loans: Residential mortgages - guaranteed 127 38 287 — 3 452 Residential mortgages - nonguaranteed 2 27,880 73 9 225 28,187 Residential home equity products 9,449 70 1 149 9,669 Residential construction 185 1 2 9 197 Guaranteed student 5,175 711 1,153 — 3 7,039 Other direct 10,050 39 4 7 10,100 Indirect 11,905 99 — 6 12,010 Credit cards 1,573 15 15 — 1,603 Total consumer LHFI 66,344 1,046 1,471 396 69,257 Total LHFI $143,950 $1,088 $1,482 $695 $147,215 1 Includes nonaccruing LHFI past due 90 days or more of $348 million . Nonaccruing LHFI past due fewer than 90 days include nonaccrual loans modified in TDRs, performing second lien loans where the first lien loan is nonperforming, and certain energy-related commercial loans. 2 I ncludes $168 million of loans measured at fair value, the majority of which were accruing current. 3 Guaranteed loans are not placed on nonaccruing regardless of delinquency status because collection of principal and interest is reasonably assured by the government. December 31, 2017 Accruing (Dollars in millions) Current 30-89 Days Past Due 90+ Days Past Due Nonaccruing 1 Total Commercial loans: C&I $66,092 $42 $7 $215 $66,356 CRE 5,293 — — 24 5,317 Commercial construction 3,803 — — 1 3,804 Total commercial LHFI 75,188 42 7 240 75,477 Consumer loans: Residential mortgages - guaranteed 159 55 346 — 3 560 Residential mortgages - nonguaranteed 2 26,778 148 4 206 27,136 Residential home equity products 10,348 75 — 203 10,626 Residential construction 280 7 — 11 298 Guaranteed student 4,946 659 1,028 — 3 6,633 Other direct 8,679 36 7 7 8,729 Indirect 12,022 111 — 7 12,140 Credit cards 1,556 13 13 — 1,582 Total consumer LHFI 64,768 1,104 1,398 434 67,704 Total LHFI $139,956 $1,146 $1,405 $674 $143,181 1 Includes nonaccruing LHFI past due 90 days or more of $357 million . Nonaccruing LHFI past due fewer than 90 days include nonaccrual loans modified in TDRs, performing second lien loans where the first lien loan is nonperforming, and certain energy-related commercial loans. 2 Includes $196 million of loans measured at fair value, the majority of which were accruing current. 3 Guaranteed loans are not placed on nonaccruing regardless of delinquency status because collection of principal and interest is reasonably assured by the government. Impaired Loans A loan is considered impaired when it is probable that the Company will be unable to collect all amounts due, including principal and interest, according to the contractual terms of the agreement. Commercial nonaccrual loans greater than $3 million and certain commercial and consumer loans whose terms have been modified in a TDR are individually evaluated for impairment. Smaller-balance homogeneous loans that are collectively evaluated for impairment and loans measured at fair value are not included in the following tables. Additionally, the following tables exclude guaranteed student loans and guaranteed residential mortgages for which there was nominal risk of principal loss due to the government guarantee. September 30, 2018 December 31, 2017 (Dollars in millions) Unpaid Principal Balance Carrying 1 Value Related ALLL Unpaid Principal Balance Carrying 1 Value Related ALLL Impaired LHFI with no ALLL recorded: Commercial loans: C&I $51 $32 $— $38 $35 $— CRE 21 20 — — — — Total commercial LHFI with no ALLL recorded 72 52 — 38 35 — Consumer loans: Residential mortgages - nonguaranteed 483 378 — 458 363 — Residential construction 12 6 — 15 9 — Total consumer LHFI with no ALLL recorded 495 384 — 473 372 — Impaired LHFI with an ALLL recorded: Commercial loans: C&I 189 165 26 127 117 19 CRE 25 21 2 21 21 2 Total commercial LHFI with an ALLL recorded 214 186 28 148 138 21 Consumer loans: Residential mortgages - nonguaranteed 1,049 1,027 101 1,133 1,103 113 Residential home equity products 873 821 49 953 895 54 Residential construction 83 81 6 93 90 7 Other direct 57 57 1 59 59 1 Indirect 131 131 6 123 122 7 Credit cards 29 8 1 26 7 1 Total consumer LHFI with an ALLL recorded 2,222 2,125 164 2,387 2,276 183 Total impaired LHFI $3,003 $2,747 $192 $3,046 $2,821 $204 1 Carrying value reflects charge-offs that have been recognized plus other amounts that have been applied to adjust the net book balance. Included in the impaired LHFI carrying values above at September 30, 2018 and December 31, 2017 were $2.3 billion and $2.4 billion of accruing TDRs, of which 97% and 96% were current, respectively. See Note 1 , “Significant Accounting Policies,” to the Company's 2017 Annual Report on Form 10-K for further information regarding the Company’s loan impairment policy. Three Months Ended September 30 Nine Months Ended September 30 2018 2017 2018 2017 (Dollars in millions) Average Carrying Value Interest 1 Income Recognized Average Carrying Value Interest 1 Income Recognized Average Carrying Value Interest 1 Income Recognized Average Carrying Value Interest 1 Income Recognized Impaired LHFI with no ALLL recorded: Commercial loans: C&I $44 $— $70 $— $45 $1 $81 $— CRE 20 — — — 20 — — — Total commercial LHFI with no ALLL recorded 64 — 70 — 65 1 81 — Consumer loans: Residential mortgages - nonguaranteed 381 4 364 4 386 11 361 11 Residential construction 7 — 9 — 7 — 9 — Total consumer LHFI with no ALLL recorded 388 4 373 4 393 11 370 11 Impaired LHFI with an ALLL recorded: Commercial loans: C&I 177 — 150 — 176 3 145 2 CRE 21 — — — 22 — — — Total commercial LHFI with an ALLL recorded 198 — 150 — 198 3 145 2 Consumer loans: Residential mortgages - nonguaranteed 1,027 13 1,135 14 1,031 39 1,146 45 Residential home equity products 824 9 890 8 833 27 901 24 Residential construction 80 1 96 2 82 4 98 4 Other direct 57 1 58 1 58 3 59 3 Indirect 134 2 120 2 141 5 128 4 Credit cards 8 — 6 — 8 1 6 1 Total consumer LHFI with an ALLL recorded 2,130 26 2,305 27 2,153 79 2,338 81 Total impaired LHFI $2,780 $30 $2,898 $31 $2,809 $94 $2,934 $94 1 Of the interest income recognized during each of the three and nine months ended September 30, 2018 and 2017 , cash basis interest income was immaterial. NPAs are presented in the following table: (Dollars in millions) September 30, 2018 December 31, 2017 NPAs: Commercial NPLs: C&I $256 $215 CRE 43 24 Commercial construction — 1 Consumer NPLs: Residential mortgages - nonguaranteed 225 206 Residential home equity products 149 203 Residential construction 9 11 Other direct 7 7 Indirect 6 7 Total nonaccrual loans/NPLs 1 695 674 OREO 2 52 57 Other repossessed assets 7 10 Total NPAs $754 $741 1 Nonaccruing restructured loans are included in total nonaccrual loans /NPLs. 2 Does not include foreclosed real estate related to loans insured by the FHA or guaranteed by the VA . Proceeds due from the FHA and the VA are recorded as a receivable in Other assets in the Consolidated Balance Sheets until the property is conveyed and the funds are received. The receivable related to proceeds due from the FHA and the VA totaled $49 million and $45 million at September 30, 2018 and December 31, 2017 , respectively. The Company's recorded investment of nonaccruing loans secured by residential real estate properties for which formal foreclosure proceedings were in process at September 30, 2018 and December 31, 2017 was $89 million and $73 million , respectively. The Company's recorded investment of accruing loans secured by residential real estate properties for which formal foreclosure proceedings were in process at September 30, 2018 and December 31, 2017 was $108 million and $101 million , of which $100 million and $97 million were insured by the FHA or guaranteed by the VA , respectively. At September 30, 2018 , OREO included $49 million of foreclosed residential real estate properties and $2 million of foreclosed commercial real estate properties, with the remaining $1 million related to land. At December 31, 2017 , OREO included $51 million of foreclosed residential real estate properties and $4 million of foreclosed commercial real estate properties, with the remaining $2 million related to land. Restructured Loans A TDR is a loan for which the Company has granted an economic concession to a borrower in response to financial difficulty experienced by the borrower, which the Company would not have considered otherwise. When a loan is modified under the terms of a TDR, the Company typically offers the borrower an extension of the loan maturity date and/or a reduction in the original contractual interest rate. In limited situations, the Company may offer to restructure a loan in a manner that ultimately results in the forgiveness of a contractually specified principal balance. At both September 30, 2018 and December 31, 2017 , the Company had an immaterial amount of commitments to lend additional funds to debtors whose terms have been modified in a TDR. The number and carrying value of loans modified under the terms of a TDR, by type of modification, are presented in the following tables: Three Months Ended September 30, 2018 1 (Dollars in millions) Number of Loans Modified Rate Modification Term Extension and/or Other Concessions Total Commercial loans: C&I 47 $— $16 $16 Consumer loans: Residential mortgages - nonguaranteed 48 3 7 10 Residential home equity products 130 1 11 12 Other direct 141 — 2 2 Indirect 559 — 14 14 Credit cards 345 1 — 1 Total TDR additions 1,270 $5 $50 $55 1 Includes loans modified under the terms of a TDR that were charged-off during the period. Nine Months Ended September 30, 2018 1 (Dollars in millions) Number of Loans Modified Rate Modification Term Extension and/or Other Concessions Total Commercial loans: C&I 122 $— $75 $75 Consumer loans: Residential mortgages - nonguaranteed 267 18 46 64 Residential home equity products 410 1 34 35 Residential construction 4 — — — Other direct 469 — 6 6 Indirect 1,954 — 46 46 Credit cards 1,079 4 — 4 Total TDR additions 4,305 $23 $207 $230 1 Includes loans modified under the terms of a TDR that were charged-off during the period. Three Months Ended September 30, 2017 1 (Dollars in millions) Number of Loans Modified Rate Modification Term Extension and/or Other Concessions Total Commercial loans: C&I 76 $2 $7 $9 Consumer loans: Residential mortgages - nonguaranteed 41 6 4 10 Residential home equity products 696 18 45 63 Other direct 135 — 2 2 Indirect 738 — 17 17 Credit cards 182 1 — 1 Total TDR additions 1,868 $27 $75 $102 1 Includes loans modified under the terms of a TDR that were charged-off during the period. Nine Months Ended September 30, 2017 1 (Dollars in millions) Number of Loans Modified Rate Modification Term Extension and/or Other Concessions Total Commercial loans: C&I 136 $2 $86 $88 Consumer loans: Residential mortgages - nonguaranteed 119 17 8 25 Residential home equity products 1,971 18 172 190 Other direct 425 — 6 6 Indirect 2,034 — 50 50 Credit cards 615 3 — 3 Total TDR additions 5,300 $40 $322 $362 1 Includes loans modified under the terms of a TDR that were charged-off during the period. TDRs that defaulted during the three and nine months ended September 30, 2018 and 2017 , which were first modified within the previous 12 months, were immaterial. The majority of lo ans that were modified under the terms of a TDR and subsequently became 90 days or more delinquent have remained on nonaccrual status since the time of delinquency. Concentrations of Credit Risk The Company does not have a significant concentration of credit risk to any individual client except for the U.S. government and its agencies. However, a geographic concentration arises because the majority of the Company's LHFI portfolio represents borrowers that reside in Florida, Georgia, Virginia, Maryland, and North Carolina . The Company’s cross-border outstanding loans totaled $1.4 billion at both September 30, 2018 and December 31, 2017 . With respect to collateral concentration, the Company's recorded investment in residential real estate secured LHFI totaled $38.5 billion at September 30, 2018 and represented 26% of total LHFI. At December 31, 2017 , the Company's recorded investment in residential real estate secured LHFI totaled $38.6 billion and represented 27% of total LHFI. Additionally, at September 30, 2018 and December 31, 2017 , the Company had commitments to extend credit on home equity lines of $10.2 billion and $10.1 billion , and had residential mortgage commitments outstanding of $3.8 billion and $3.0 billion , respectively. At both September 30, 2018 and December 31, 2017 , 1% of the Company's LHFI secured by residential real estate was insured by the FHA or guaranteed by the VA . |
Allowance for Credit Losses
Allowance for Credit Losses | 9 Months Ended |
Sep. 30, 2018 | |
Allowance for Credit Losses [Abstract] | |
Allowance for Credit Losses | NOTE 7 - ALLOWANCE FOR CREDIT LOSSES The allowance for credit losses consists of the ALLL and the unfunded commitments reserve. Activity in the allowance for credit losses by loan segment is presented in the following tables: Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 (Dollars in millions) Commercial Consumer Total Commercial Consumer Total ALLL, beginning of period $1,068 $582 $1,650 $1,101 $634 $1,735 Provision for loan losses 36 25 61 37 91 128 Loan charge-offs (51 ) (71 ) (122 ) (95 ) (234 ) (329 ) Loan recoveries 9 25 34 19 70 89 ALLL, end of period 1,062 561 1,623 1,062 561 1,623 Unfunded commitments reserve, beginning of period 1 72 — 72 79 — 79 Benefit for unfunded commitments — — — (7 ) — (7 ) Unfunded commitments reserve, end of period 1 72 — 72 72 — 72 Allowance for credit losses, end of period $1,134 $561 $1,695 $1,134 $561 $1,695 1 The unfunded commitments reserve is recorded in Other liabilities in the Consolidated Balance Sheets. Three Months Ended September 30, 2017 Nine Months Ended September 30, 2017 (Dollars in millions) Commercial Consumer Total Commercial Consumer Total ALLL, beginning of period $1,140 $591 $1,731 $1,124 $585 $1,709 Provision for loan losses 5 114 119 89 235 324 Loan charge-offs (33 ) (76 ) (109 ) (122 ) (235 ) (357 ) Loan recoveries 11 20 31 32 64 96 ALLL, end of period 1,123 649 1,772 1,123 649 1,772 Unfunded commitments reserve, beginning of period 1 72 — 72 67 — 67 Provision for unfunded commitments 1 — 1 6 — 6 Unfunded commitments reserve, end of period 1 73 — 73 73 — 73 Allowance for credit losses, end of period $1,196 $649 $1,845 $1,196 $649 $1,845 1 The unfunded commitments reserve is recorded in Other liabilities in the Consolidated Balance Sheets. As discussed in Note 1 , “Significant Accounting Policies,” to the Company's 2017 Annual Report on Form 10-K , the ALLL is composed of both specific allowances for certain nonaccrual loans and TDRs, and general allowances for groups of loans with similar risk characteristics. No allowance is required for loans measured at fair value. Additionally, the Company records an immaterial allowance for loan products that are insured by federal agencies or guaranteed by GSE s, as there is nominal risk of principal loss. The Company’s LHFI portfolio and related ALLL are presented in the following tables: September 30, 2018 Commercial Loans Consumer Loans Total (Dollars in millions) Carrying Value Related ALLL Carrying Value Related Carrying Value Related LHFI evaluated for impairment: Individually evaluated $238 $28 $2,509 $164 $2,747 $192 Collectively evaluated 77,720 1,034 66,580 397 144,300 1,431 Total evaluated 77,958 1,062 69,089 561 147,047 1,623 LHFI measured at fair value — — 168 — 168 — Total LHFI $77,958 $1,062 $69,257 $561 $147,215 $1,623 December 31, 2017 Commercial Loans Consumer Loans Total (Dollars in millions) Carrying Related ALLL Carrying Related Carrying Related LHFI evaluated for impairment: Individually evaluated $173 $21 $2,648 $183 $2,821 $204 Collectively evaluated 75,304 1,080 64,860 451 140,164 1,531 Total evaluated 75,477 1,101 67,508 634 142,985 1,735 LHFI measured at fair value — — 196 — 196 — Total LHFI $75,477 $1,101 $67,704 $634 $143,181 $1,735 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 9 Months Ended |
Sep. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | NOTE 8 – GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill The Company conducts a goodwill impairment test at the reporting unit level at least annually, or more frequently as events occur or circumstances change that would more-likely-than-not reduce the fair value of a reporting unit below its carrying amount. See Note 1 , "Significant Accounting Policies," to the Company's 2017 Annual Report on Form 10-K for additional information regarding the Company's goodwill accounting policy. In the first, second, and third quarters of 2018, the Company performed qualitative goodwill assessments on its Consumer and Wholesale reporting units, considering changes in key assumptions as well as other events and circumstances occurring since the most recent annual goodwill impairment test performed as of October 1, 2017. The Company concluded, based on the totality of factors observed, that it is not more-likely-than-not that the fair values of its reportable segments are less than their respective carrying values. Accordingly, goodwill was not required to be quantitatively tested for impairment during the nine months ended September 30, 2018 . In the second quarter of 2018, certain business banking clients were transferred from the Wholesale segment to the Consumer segment, resulting in the reallocation of $128 million in goodwill. See Note 18 , "Business Segment Reporting," for additional information. The changes in the carrying amount of goodwill by reportable segment for the nine months ended September 30, 2018 are presented in the following table. There were no material changes in the carrying amount of goodwill by reportable segment for the nine months ended September 30, 2017 . (Dollars in millions) Consumer Wholesale Total Balance, January 1, 2018 $4,262 $2,069 $6,331 Reallocation related to intersegment transfer of business banking clients 128 (128 ) — Balance, September 30, 2018 $4,390 $1,941 $6,331 Other Intangible Assets Changes in the carrying amount of other intangible assets are presented in the following table: (Dollars in millions) Residential MSRs - Fair Value Commercial Mortgage Servicing Rights and Other Total Balance, January 1, 2018 $1,710 $81 $1,791 Amortization 1 — (13 ) (13 ) Servicing rights originated 250 10 260 Servicing rights purchased 89 — 89 Changes in fair value: Due to changes in inputs and assumptions 2 198 — 198 Other changes in fair value 3 (183 ) — (183 ) Servicing rights sold (2 ) — (2 ) Balance, September 30, 2018 $2,062 $78 $2,140 Balance, January 1, 2017 $1,572 $85 $1,657 Amortization 1 — (16 ) (16 ) Servicing rights originated 252 10 262 Changes in fair value: Due to changes in inputs and assumptions 2 (27 ) — (27 ) Other changes in fair value 3 (168 ) — (168 ) Servicing rights sold (1 ) — (1 ) Other 4 — (1 ) (1 ) Balance, September 30, 2017 $1,628 $78 $1,706 1 Does not include expense associated with community development investments. See Note 10 , "Certain Transfers of Financial Assets and Variable Interest Entities," for additional information. 2 Primarily reflects changes in option adjusted spreads and prepayment speed assumptions, due to changes in interest rates. 3 Represents changes due to the collection of expected cash flows, net of accretion due to the passage of time. 4 Represents measurement period adjustment on other intangible assets acquired previously in the Pillar acquisition. The gross carrying value and accumulated amortization of other intangible assets are presented in the following table: September 30, 2018 December 31, 2017 (Dollars in millions) Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value Amortized other intangible assets 1 : Commercial mortgage servicing rights $89 ($25 ) $64 $79 ($14 ) $65 Other 19 (17 ) 2 32 (28 ) 4 Unamortized other intangible assets: Residential MSRs 2,062 — 2,062 1,710 — 1,710 Other 12 — 12 12 — 12 Total other intangible assets $2,182 ($42 ) $2,140 $1,833 ($42 ) $1,791 1 Excludes other intangible assets that are indefinite-lived, carried at fair value, or fully amortized. Servicing Rights The Company acquires servicing rights and retains servicing rights for certain of its sales or securitizations of residential mortgages and commercial loans. Servicing rights on residential and commercial mortgages are the only material servicing assets capitalized by the Company and are classified as Other intangible assets on the Company's Consolidated Balance Sheets. Residential Mortgage Servicing Rights Income earned by the Company on its residential MSRs is derived primarily from contractually specified mortgage servicing fees and late fees, net of curtailment costs, and is presented in the following table. Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2018 2017 2018 2017 Income from residential MSRs 1 $108 $100 $322 $301 1 Recognized in Mortgage servicing related income in the Consolidated Statements of Income. The UPB of residential mortgage loans serviced for third parties is presented in the following table: (Dollars in millions) September 30, 2018 December 31, 2017 UPB of loans underlying residential MSRs $139,955 $136,071 The Company purchased MSRs on residential loans with a UPB of $7.0 billion during the nine months ended September 30, 2018 ; $5.9 billion of which are reflected in the UPB amounts above and the transfer of servicing for the remainder is scheduled for the fourth quarter of 2018. No MSRs on residential loans were purchased during the nine months ended September 30, 2017 . During the nine months ended September 30, 2018 and 2017 , the Company sold MSRs on residential loans, at a price approximating their fair value, with a UPB of $781 million and $350 million , respectively. The Company measures the fair value of its residential MSRs using a valuation model that calculates the present value of estimated future net servicing income using prepayment projections, spreads, and other assumptions. The Consumer Valuation Committee reviews and approves all significant assumption changes at least annually, drawing upon various market and empirical data sources. Changes to valuation model inputs are reflected in the periods' results. See Note 16 , “Fair Value Election and Measurement,” for further information regarding the Company's residential MSR valuation methodology. A summary of the significant unobservable inputs used to estimate the fair value of the Company’s residential MSRs and the uncertainty of the fair values in response to 10% and 20% adverse changes in those inputs at the reporting date, are presented in the following table. (Dollars in millions) September 30, 2018 December 31, 2017 Fair value of residential MSRs $2,062 $1,710 Prepayment rate assumption (annual) 12 % 13 % Decline in fair value from 10% adverse change $91 $85 Decline in fair value from 20% adverse change 173 160 Option adjusted spread (annual) 3 % 4 % Decline in fair value from 10% adverse change $52 $47 Decline in fair value from 20% adverse change 100 90 Weighted-average life (in years) 5.8 5.4 Weighted-average coupon 4.0 % 3.9 % Residential MSR uncertainties are hypothetical and should be used with caution. Changes in fair value based on variations in assumptions generally cannot be extrapolated because (i) the relationship of the change in an assumption to the change in fair value may not be linear and (ii) changes in one assumption may result in changes in another, which might magnify or counteract the uncertainties. The uncertainties do not reflect the effect of hedging activity undertaken by the Company to offset changes in the fair value of MSRs. See Note 15 , “Derivative Financial Instruments,” for further information regarding these hedging activities. Commercial Mortgage Servicing Rights Income earned by the Company on its commercial mortgage servicing rights is derived primarily from contractually specified servicing fees and other ancillary fees. The Company also earns income from subservicing certain third party commercial mortgages for which the Company does not record servicing rights. The following table presents the Company's income earned from servicing commercial mortgages. Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2018 2017 2018 2017 Income from commercial mortgage servicing rights 1 $5 $6 $20 $17 Income from subservicing third party commercial mortgages 1 3 3 9 11 1 Recognized in Commercial real estate related income in the Consolidated Statements of Income. The UPB of commercial mortgage loans serviced for third parties is presented in the following table: (Dollars in millions) September 30, 2018 December 31, 2017 UPB of commercial mortgages subserviced for third parties $26,206 $24,294 UPB of loans underlying commercial mortgage servicing rights 6,039 5,760 Total UPB of commercial mortgages serviced for third parties $32,245 $30,054 No commercial mortgage servicing rights were purchased or sold during the nine months ended September 30, 2018 and 2017 . Commercial mortgage servicing rights are accounted for at amortized cost and are monitored for impairment on an ongoing basis. The Company calculates the fair value of commercial servicing rights based on the present value of estimated future net servicing income, considering prepayment projections and other assumptions. Impairment, if any, is recognized when the carrying value of the servicing asset exceeds the fair value at the measurement date. The amortized cost of the Company's commercial mortgage servicing rights was $64 million and $65 million at September 30, 2018 and December 31, 2017 , respectively. A summary of the significant unobservable inputs used to estimate the fair value of the Company’s commercial mortgage servicing rights and the uncertainty of the fair values in response to 10% and 20% adverse changes in those inputs at the reporting date, are presented in the following table. (Dollars in millions) September 30, 2018 December 31, 2017 Fair value of commercial mortgage servicing rights $77 $75 Discount rate (annual) 12 % 12 % Decline in fair value from 10% adverse change $3 $3 Decline in fair value from 20% adverse change 6 6 Prepayment rate assumption (annual) 6 % 7 % Decline in fair value from 10% adverse change $1 $1 Decline in fair value from 20% adverse change 2 2 Weighted-average life (in years) 7.8 7.0 Float earnings rate (annual) 1.1 % 1.1 % Commercial mortgage servicing right uncertainties are hypothetical and should be used with caution. |
Other Assets (Notes)
Other Assets (Notes) | 9 Months Ended |
Sep. 30, 2018 | |
Other Assets Disclosure [Abstract] | |
Other Assets Disclosure [Text Block] | NOTE 9 - OTHER ASSETS The components of other assets are presented in the following table: (Dollars in millions) September 30, 2018 December 31, 2017 Equity securities 1 : Marketable equity securities 2 : Mutual fund investments $65 $49 Other equity 3 27 7 Nonmarketable equity securities: Federal Reserve Bank stock 2 403 403 FHLB stock 2 142 15 Other equity 3 50 26 Lease assets 2,110 1,528 Tax credit investments 4 1,583 1,272 Bank-owned life insurance 1,619 1,411 Accrued income 1,059 880 Accounts receivable 669 2,201 Pension assets, net 518 464 Prepaid expenses 248 319 OREO 52 57 Other 887 786 Total other assets $9,432 $9,418 1 Equity securities held for trading purposes are classified in Trading assets and derivative instruments or Trading liabilities and derivative instruments on the Company's Consolidated Balance Sheets. 2 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability . 3 During the second quarter of 2018, the Company reclassified $22 million of equity securities from nonmarketable to marketable equity securities due to readily determinable fair value information observed in active markets. 4 See Note 10 , "Certain Transfers of Financial Assets and Variable Interest Entities," for additional information. Equity Securities Not Classified as Trading Assets or Liabilities Equity securities with readily determinable fair values (marketable) that are not held for trading purposes are recorded at fair value and include mutual fund investments and other publicly traded equity securities. Equity securities without readily determinable fair values (nonmarketable) that are not held for trading purposes include Federal Reserve Bank of Atlanta and FHLB of Atlanta capital stock, both held at cost, as well as other equity securities that the Company elected to account for under the measurement alternative, pursuant to its adoption of ASU 2016-01 on January 1, 2018. See the “Equity Securities” and “Accounting Pronouncements” sections of Note 1 , “Significant Accounting Policies,” for additional information on the Company's adoption of ASU 2016-01 and for policy updates related to equity securities. The following table summarizes net gains/(losses) for equity securities not classified as trading assets: (Dollars in millions) Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 Net (losses)/gains from marketable equity securities 1 ($4 ) $10 Net gains/(losses) from nonmarketable equity securities: Remeasurement losses and impairment — — Remeasurement gains 1 7 30 Less: Net realized gains from sale — — Total net unrealized gains from non-trading equity securities $3 $40 1 Recognized in Other noninterest income in the Company's Consolidated Statements of Income. Lease Assets Lease assets consist primarily of operating leases in which the Company is the lessor. In these scenarios, the Company leases assets and receives periodic rental payments. Depreciation on the leased asset is recognized over the term of the operating lease. Any impairment on the leased asset is recognized to the extent that the carrying value of the asset is not recoverable and is greater than its fair value. Bank-Owned Life Insurance Bank-owned life insurance consists of life insurance policies held on certain employees for which the Company is the beneficiary. These policies provide the Company an efficient form of funding for retirement and other employee benefits costs. Accrued Income Accrued income consists primarily of interest and other income accrued on the Company's LHFI. Interest income on loans, except those classified as nonaccrual, is accrued based upon the outstanding principal amounts using the effective yield method. See Note 1 , “Significant Accounting Policies,” to the Company's 2017 Annual Report on Form 10-K for information regarding the Company's accounting policy for loans. Accounts Receivable Accounts receivable consists primarily of receivables from brokers, dealers, and customers related to pending loan trades, unsettled trades of securities, loan-related advances, and investment securities income due but not received. Additionally, includes proceeds due from the FHA and the VA on foreclosed real estate related to loans insured by the FHA or guaranteed by the VA . Pension Assets Pension assets (net) represent the funded status of the Company's overfunded pension and other postretirement benefits plans, measured as the difference between the fair value of plan assets and the benefit obligation at period end. |
Certain Transfers of Financial
Certain Transfers of Financial Assets and Variable Interest Entities | 9 Months Ended |
Sep. 30, 2018 | |
Certain Transfers of Financial Assets and Variable Interest Entities [Abstract] | |
Transfers and Servicing of Financial Assets [Text Block] | NOTE 10 - CERTAIN TRANSFERS OF FINANCIAL ASSETS AND VARIABLE INTEREST ENTITIES The Company has transferred loans and securities in sale or securitization transactions for which the Company retains certain beneficial interests, servicing rights, and/or recourse. These transfers of financial assets include certain residential mortgage loans, guaranteed student loans, and commercial loans, as discussed in the following section, "Transfers of Financial Assets." Cash receipts on beneficial interests held related to these transfers were immaterial for each of the three and nine months ended September 30, 2018 and 2017 . When a transfer or other transaction occurs with a VIE, the Company first determines whether it has a VI in the VIE. A VI is typically in the form of securities representing retained interests in transferred assets and, at times, servicing rights, and for commercial mortgage loans sold to Fannie Mae , the loss share guarantee. See Note 14 , “Guarantees,” for further discussion of the Company's loss share guarantee. When determining whether to consolidate the VIE, the Company evaluates whether it is a primary beneficiary which has both (i) the power to direct the activities that most significantly impact the economic performance of the VIE, and (ii) the obligation to absorb losses, or the right to receive benefits, that could potentially be significant to the VIE . To determine whether a transfer should be accounted for as a sale or a secured borrowing, the Company evaluates whether: (i) the transferred assets are legally isolated, (ii) the transferee has the right to pledge or exchange the transferred assets, and (iii) the Company has relinquished effective control of the transferred assets. If all three conditions are met, then the transfer is accounted for as a sale. Except as specifically noted herein, the Company is not required to provide additional financial support to any of the entities to which the Company has transferred financial assets, nor has the Company provided any support it was not otherwise obligated to provide. No events occurred during the nine months ended September 30, 2018 that changed the Company’s previous conclusions regarding whether it is the primary beneficiary of the VIEs described herein. Furthermore, no events occurred during the nine months ended September 30, 2018 that changed the Company’s sale conclusion with regards to previously transferred residential mortgage loans, guaranteed student loans, or commercial loans. Transfers of Financial Assets The following discussion summarizes transfers of financial assets to entities for which the Company has retained some level of continuing involvement. Consumer Loans Residential Mortgage Loans The Company typically transfers first lien residential mortgage loans in conjunction with Ginnie Mae , Fannie Mae , and Freddie Mac securitization transactions, whereby the loans are exchanged for cash or securities that are readily redeemable for cash, and servicing rights are retained. The Company sold residential mortgage loans to Ginnie Mae , Fannie Mae , and Freddie Mac , which resulted in pre-tax net gains of $46 million and $53 million for the three and nine months ended September 30, 2018 , and pre-tax net gains of $73 million and $152 million for the three and nine months ended September 30, 2017 , respectively. Net gains/losses on the sale of residential mortgage LHFS are recorded at inception of the associated IRLCs and reflect the change in value of the loans resulting from changes in interest rates from the time the Company enters into the related IRLCs with borrowers until the loans are sold, but do not include the results of hedging activities initiated by the Company to mitigate this market risk. See Note 15 , "Derivative Financial Instruments," for further discussion of the Company's hedging activities. The Company has made certain representations and warranties with respect to the transfer of these loans. See Note 14 , “Guarantees,” for additional information regarding representations and warranties. In a limited number of securitizations, the Company has received securities in addition to cash in exchange for the transferred loans, while also retaining servicing rights. The securities received are measured at fair value and classified as securities AFS. During the second quarter of 2018, the Company sold the majority of these securities for a net gain of $6 million , recognized in Net securities gains on the Consolidated Statements of Income for the nine months ended September 30, 2018 . The fair value of retained securities was immaterial at September 30, 2018 and totaled $22 million at December 31, 2017 . The Company evaluates securitization entities in which it has a VI for potential consolidation under the VIE consolidation model. Notwithstanding the Company's role as servicer, the Company typically does not have power over the securitization entities as a result of rights held by the master servicer. In certain transactions, the Company does have power as the servicer, but does not have an obligation to absorb losses, or the right to receive benefits, that could potentially be significant. In all such cases, the Company does not consolidate the securitization entity. Due to the aforementioned sale of securities AFS in the second quarter of 2018, the Company’s remaining VI in the securitization entity was immaterial at September 30, 2018 . Assets of the unconsolidated entities in which the Company has a VI totaled $147 million at December 31, 2017 . The Company’s maximum exposure to loss related to these unconsolidated residential mortgage loan securitizations is comprised of the loss of value of any interests it retains, which was immaterial at September 30, 2018 and totaled $22 million at December 31, 2017 , as well as any repurchase obligations or other losses it incurs as a result of any guarantees related to these securitizations, which is discussed further in Note 14 , “Guarantees.” Guaranteed Student Loans The Company has securitized government-guaranteed student loans through a transfer of loans to a securitization entity and retained the residual interest in the entity. The Company concluded that this entity should be consolidated because the Company has (i) the power to direct the activities that most significantly impact the economic performance of the VIE and (ii) the obligation to absorb losses, and the right to receive benefits, that could potentially be significant. At September 30, 2018 and December 31, 2017 , the Company’s Consolidated Balance Sheets reflected $171 million and $192 million of assets held by the securitization entity and $168 million and $189 million of debt issued by the entity, respectively, inclusive of related accrued interest. To the extent that the securitization entity incurs losses on its assets, the securitization entity has recourse to the guarantor of the underlying loan, which is backed by the Department of Education up to a maximum guarantee of 98% , or in the event of death, disability, or bankruptcy, 100% . When not fully guaranteed, losses reduce the amount of available cash payable to the Company as the owner of the residual interest. To the extent that losses result from a breach of servicing responsibilities, the Company, which functions as the master servicer, may be required to repurchase the defaulted loan(s) at par value. If the breach was caused by the subservicer, the Company would seek reimbursement from the subservicer up to the guaranteed amount. The Company’s maximum exposure to loss related to the securitization entity would arise from a breach of its servicing responsibilities. To date, loss claims filed with the guarantor that have been denied due to servicing errors have either been, or are in the process of being cured, or reimbursement has been provided to the Company by the subservicer, or in limited cases, absorbed by the Company. Commercial Loans The Company originates and sells certain commercial mortgage loans to Fannie Mae and Freddie Mac , originates FHA insured loans, and issues and sells Ginnie Mae commercial MBS secured by FHA insured loans. The Company transferred commercial loans to these Agencies and GSE s, which resulted in pre-tax net gains of $8 million and $22 million for the three and nine months ended September 30, 2018 , and pre-tax net gains of $9 million and $33 million for the three and nine months ended September 30, 2017 , respectively. The loans are exchanged for cash or securities that are readily redeemable for cash, with servicing rights retained. The Company has made certain representations and warranties with respect to the transfer of these loans and has entered into a loss share guarantee related to certain loans transferred to Fannie Mae . See Note 14 , “Guarantees,” for additional information regarding the commercial mortgage loan loss share guarantee. The Company's total managed loans, including the LHFI portfolio and other transferred loans (securitized and unsecuritized), are presented in the following table by portfolio balance and delinquency status (accruing loans 90 days or more past due and all nonaccrual loans) at September 30, 2018 and December 31, 2017 , as well as the related net charge-offs for the three and nine months ended September 30, 2018 and 2017 . Portfolio Balance Past Due and Nonaccrual Net Charge-offs September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2018 2017 2018 2017 LHFI portfolio: Commercial $77,958 $75,477 $310 $247 $42 $22 $76 $90 Consumer 69,257 67,704 1,867 1,832 46 56 164 171 Total LHFI portfolio 147,215 143,181 2,177 2,079 88 78 240 261 Managed securitized loans: Commercial 1 6,039 5,760 — — — — — — Consumer 138,747 134,160 226 171 1 2 3 2 5 2 7 2 Total managed securitized loans 144,786 139,920 226 171 1 3 5 7 Managed unsecuritized loans 3 1,380 2,200 190 340 — — — — Total managed loans $293,381 $285,301 $2,593 $2,590 $89 $81 $245 $268 1 Comprised of commercial mortgages sold through Fannie Mae , Freddie Mac , and Ginnie Mae securitizations, whereby servicing has been retained by the Company. 2 Amounts associated with $429 million and $602 million of managed securitized loans at September 30, 2018 and December 31, 2017 , respectively. Net charge-off data is not reported to the Company for the remaining balance of $138.3 billion and $133.6 billion of managed securitized loans at September 30, 2018 and December 31, 2017 , respectively. 3 Comprised of unsecuritized loans the Company originated and sold to private investors with servicing rights retained. Net charge-offs on these loans are not presented in the table as the data is not reported to the Company by the private investors that own these related loans. Other Variable Interest Entities In addition to exposure to VIEs arising from transfers of financial assets, the Company also has involvement with VIEs from other business activities. Tax Credit Investments The following table provides information related to the Company's investments in tax credit VIEs that it does not consolidate: Community Development Investments Renewable Energy Partnerships (Dollars in millions) September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 Carrying value of investments 1 $1,515 $1,272 $68 $— Maximum exposure to loss related to investments 2 2,173 1,905 165 — 1 At September 30, 2018 and December 31, 2017 , the carrying value of community development investments excludes $67 million and $59 million of investments in funds that do not qualify for tax credits, respectively. 2 At September 30, 2018 and December 31, 2017 , the Company's maximum exposure to loss related to community development investments includes $484 million and $354 million of loans and $648 million and $627 million of unfunded equity commitments, respectively. At September 30, 2018 and December 31, 2017 , the Company's maximum exposure to loss related to renewable energy partnerships includes $97 million and $0 of unfunded equity commitments, respectively. Community Development Investments The Company invests in multi-family affordable housing partnership developments and other community development entities as a limited partner and/or a lender. The carrying value of these investments is recorded in Other assets on the Company’s Consolidated Balance Sheets. The Company receives tax credits for its limited partner investments, which are recorded in Provision for income taxes in the Company's Consolidated Statements of Income. Amortization recognized on qualified affordable housing partnerships is recorded in the Provision for income taxes, net of the related tax benefits, in the Company's Consolidated Statements of Income. Amortization recognized on other community development investments is recorded in Amortization in the Company's Consolidated Statements of Income. The Company has determined that the majority of the related partnerships are VIEs. The Company has concluded that it is not the primary beneficiary of these investments when it invests as a limited partner and there is a third party general partner. The general partner, or an affiliate of the general partner, often provides guarantees to the limited partner, which protects the Company from construction and operating losses and tax credit allocation deficits. The Company’s maximum exposure to loss would result from the loss of its limited partner investments, net of liabilities, along with loans or interest rate swap exposures related to these investments as well as unfunded equity commitments that the Company is required to fund if certain conditions are met. The following table presents tax credits and amortization associated with the Company’s investments in community development investments. Tax Credits Amortization Three Months Ended September 30 Nine Months Ended September 30 Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2018 2017 2018 2017 2018 2017 2018 2017 Qualified affordable housing partnerships $28 $27 $87 $77 $29 $27 $92 $76 Other community development investments 23 25 62 60 19 19 49 45 Renewable Energy Partnerships In the second quarter of 2018, the Company began investing in entities that promote renewable energy sources as a limited partner. The carrying value of these renewable energy partnership investments is recorded in Other assets on the Company’s Consolidated Balance Sheets, and the associated tax credits received for these investments are recorded as a reduction to the carrying value of these investments. The Company has determined that these renewable energy tax credit partnerships are VIEs. The Company has concluded that it is not the primary beneficiary of these VIEs because it does not have the power to direct the activities that most significantly impact the VIEs' financial performance and therefore, it is not required to consolidate these VIEs. The Company’s maximum exposure to loss related to these investments is comprised of its equity investments in these partnerships and any additional unfunded equity commitments. Total Return Swaps At September 30, 2018 and December 31, 2017 , the outstanding notional amount of the Company's VIE-facing TRS contracts totaled $1.9 billion and $1.7 billion , and related loans outstanding to VIEs totaled $1.9 billion and $1.7 billion , respectively. These financings were measured at fair value and classified within Trading assets and derivative instruments on the Consolidated Balance Sheets. The Company entered into client-facing TRS contracts of the same outstanding notional amounts. The notional amounts of the TRS contracts with VIEs represent the Company’s maximum exposure to loss, although this exposure has been mitigated via the TRS contracts with clients. For additional information on the Company’s TRS contracts and its involvement with these VIEs, see Note 15 , “Derivative Financial Instruments,” as well as Note 10, "Certain Transfers of Financial Assets and Variable Interest Entities," to the Company's 2017 Annual Report on Form 10-K. |
Net Income Per Common Share
Net Income Per Common Share | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Net Income/(Loss) Per Share | NOTE 11 – NET INCOME PER COMMON SHARE Reconciliations of net income to net income available to common shareholders and average basic common shares outstanding to average diluted common shares outstanding are presented in the following table. Equivalent shares of less than 1 million related to common stock options and warrants outstanding at September 30, 2017 were excluded from the computations of diluted net income per average common share because they would have been anti-dilutive. Three Months Ended September 30 Nine Months Ended September 30 (Dollars and shares in millions, except per share data) 2018 2017 2018 2017 Net income $752 $538 $2,117 $1,533 Less: Preferred stock dividends (26 ) (26 ) (81 ) (65 ) Net income available to common shareholders $726 $512 $2,036 $1,468 Average common shares outstanding - basic 460.3 478.3 464.8 483.7 Add dilutive securities: RSUs 3.0 2.9 2.8 2.9 Common stock warrants, options, and restricted stock 0.9 2.4 1.4 2.6 Average common shares outstanding - diluted 464.2 483.6 469.0 489.2 Net income per average common share - diluted $1.56 $1.06 $4.34 $3.00 Net income per average common share - basic 1.58 1.07 4.38 3.04 |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | NOTE 12 - INCOME TAXES For the three months ended September 30, 2018 and 2017 , the provision for income taxes was $95 million and $225 million , representing effective tax rates of 11% and 29% , respectively. For the nine months ended September 30, 2018 and 2017 , the provision for income taxes was $412 million and $606 million , representing effective tax rates of 16% and 28% , respectively. The effective tax rate for the nine months ended September 30, 2018 was favorably impacted by a net $71 million discrete income tax benefit, while the effective tax rate for the nine months ended September 30, 2017 was favorably impacted by a net $26 million discrete income tax benefit related primarily to share-based compensation. The $71 million net discrete income tax benefit for the nine months ended September 30, 2018 was driven by a $55 million tax benefit for the income tax effects of the 2017 Tax Act , a $22 million tax benefit for share-based compensation, and an $8 million tax benefit related to the release of certain UTB s due to the expiration of the applicable statute of limitation. These income tax benefits were offset partially by a $14 million discrete tax expense resulting from the merger of the Company's STM and Bank legal entities, which includes the $35 million discrete tax expense in the first quarter of 2018 related to the increase in the valuation allowance recorded for STM 's state carryforwards and a $21 million discrete tax benefit in the third quarter of 2018 related to the net adjustment of STM ’s state DTA s and DTL s upon completion of the merger. The $55 million adjustment for the income tax effects of the 2017 Tax Act reflects the final adjustment to the Company's December 31, 2017 DTA s and DTL s at the reduced federal corporate income tax rate of 21% . This adjustment completed the Company's accounting for the income tax effects of the 2017 Tax Act . At September 30, 2018 and December 31, 2017 , the Company had a valuation allowance against its state carryforwards and certain state DTA s of $89 million and $143 million , respectively. This decrease in the valuation allowance was due primarily to the reversal of the valuation allowance that was recorded against certain of STM 's pre-merger state NOL carryforwards that could not be carried forward by the Bank after the merger. The reversal of the valuation allowance was offset by the write-off of the related state NOL carryforwards. See Note 18 , “Business Segment Reporting,” for additional information regarding the merger of STM and the Bank. The provision for income taxes includes both federal and state income taxes and differs from the provision using statutory rates due primarily to favorable permanent tax items such as interest income from lending to tax-exempt entities, tax credits, and amortization expense related to qualified affordable housing investment costs. The Company calculated the provision for income taxes by applying the estimated annual effective tax rate to year-to-date pre-tax income and adjusting for discrete items that occurred during the period |
Employee Benefit Plans
Employee Benefit Plans | 9 Months Ended |
Sep. 30, 2018 | |
Defined Contribution Plan Disclosure [Line Items] | |
Employee Benefit Plans | NOTE 13 - EMPLOYEE BENEFIT PLANS The Company sponsors various compensation and benefit programs to attract and retain talent. Aligned with a pay for performance culture, the Company's plans and programs include short-term incentives, AIP , and various LTI plans. See Note 15, "Employee Benefit Plans," to the Company's 2017 Annual Report on Form 10-K for additional information regarding the Company's employee benefit plans. Stock-based compensation expense recognized in Employee compensation in the Consolidated Statements of Income consisted of the following: Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2018 2017 2018 2017 RSUs $21 $14 $82 $64 Phantom stock units 1 10 17 36 57 Total stock-based compensation expense $31 $31 $118 $121 Stock-based compensation tax benefit 2 $8 $12 $28 $46 1 Phantom stock units are settled in cash. During the three and nine months ended September 30, 2018 , the Company paid $1 million and $76 million , respectively, related to these share-based liabilities. During the three and nine months ended September 30, 2017 , the Company paid $2 million and $79 million , respectively, related to these share-based liabilities. 2 Does not include excess tax benefits or deficiencies recognized in the Provision for income taxes in the Consolidated Statements of Income. Components of net periodic benefit related to the Company's pension and other postretirement benefits plans are presented in the following table and are recognized in Employee benefits in the Consolidated Statements of Income: Pension Benefits 1 Other Postretirement Benefits Three Months Ended September 30 Nine Months Ended September 30 Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2018 2017 2018 2017 2018 2017 2018 2017 Service cost $1 $1 $4 $4 $— $— $— $— Interest cost 23 24 68 71 — — 1 1 Expected return on plan assets (47 ) (49 ) (140 ) (146 ) (1 ) (1 ) (4 ) (4 ) Amortization of prior service credit — — — — (2 ) (1 ) (5 ) (4 ) Amortization of actuarial loss 6 6 17 18 — — — — Net periodic benefit ($17 ) ($18 ) ($51 ) ($53 ) ($3 ) ($2 ) ($8 ) ($7 ) 1 Administrative fees are recognized in service cost for each of the periods presented. In the second quarter of 2017, the Company amended its NCF Retirement Plan in accordance with its decision to terminate the pension plan effective as of July 31, 2017. The Company expects to reclassify approximately $61 million of pre-tax deferred losses from AOCI into net income upon settlement of the NCF pension plan, which is on schedule to be completed by the end of 2018. |
Guarantees
Guarantees | 9 Months Ended |
Sep. 30, 2018 | |
Guarantees [Abstract] | |
Guarantees | NOTE 14 – GUARANTEES The Company has undertaken certain guarantee obligations in the ordinary course of business. The issuance of a guarantee imposes an obligation for the Company to stand ready to perform and make future payments should certain triggering events occur. Payments may be in the form of cash, financial instruments, other assets, shares of stock, or through provision of the Company’s services. The following is a discussion of the guarantees that the Company has issued at September 30, 2018 . The Company has also entered into certain contracts that are similar to guarantees, but that are accounted for as derivative instruments as discussed in Note 15 , “Derivative Financial Instruments.” Letters of Credit Letters of credit are conditional commitments issued by the Company, generally to guarantee the performance of a client to a third party in borrowing arrangements, such as CP , bond financing, or similar transactions. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to clients but may be reduced by selling participations to third parties. The Company issues letters of credit that are classified as financial standby, performance standby, or commercial letters of credit; however, commercial letters of credit are considered guarantees of funding and are not subject to the disclosure requirements of guarantee obligations. At September 30, 2018 and December 31, 2017 , the maximum potential exposure to loss related to the Company's issued letters of credit was $3.1 billion and $2.6 billion , respectively. The Company’s outstanding letters of credit generally have a term of more than one year. Some standby letters of credit are designed to be drawn upon in the normal course of business and others are drawn upon only in circumstances of dispute or default in the underlying transaction to which the Company is not a party. In all cases, the Company is entitled to reimbursement from the client. If a letter of credit is drawn upon and reimbursement is not provided by the client, the Company may take possession of the collateral securing the letter of credit, where applicable. The Company monitors its credit exposure under standby letters of credit in the same manner as it monitors other extensions of credit in accordance with its credit policies. Consistent with the methodologies used for all commercial borrowers, an internal assessment of the PD and loss severity in the event of default is performed. The Company's credit risk management for letters of credit leverages the risk rating process to focus greater visibility on higher risk and higher dollar letters of credit. The allowance associated with letters of credit is a component of the unfunded commitments reserve recorded in Other liabilities on the Consolidated Balance Sheets and is included in the allowance for credit losses as disclosed in Note 7 , “Allowance for Credit Losses.” Additionally, unearned fees relating to letters of credit are recorded in Other liabilities on the Consolidated Balance Sheets. The net carrying amount of unearned fees was immaterial at both September 30, 2018 and December 31, 2017 . Loan Sales and Servicing The Company originates and purchases residential mortgage loans, a portion of which are sold to outside investors in the normal course of business through a combination of whole loan sales to GSE s, Ginnie Mae , and non-agency investors. The Company also originates and sells certain commercial mortgage loans to Fannie Mae and Freddie Mac , originates FHA insured loans, and issues and sells Ginnie Mae commercial MBS secured by FHA insured loans. When loans are sold, representations and warranties regarding certain attributes of the loans are made to third party purchasers. Subsequent to the sale, if a material underwriting deficiency or documentation defect is discovered, the Company may be obligated to repurchase the loan or to reimburse an investor for losses incurred (make whole requests), if such deficiency or defect cannot be cured by the Company within the specified period following discovery. These representations and warranties may extend through the life of the loan. In addition to representations and warranties related to loan sales, the Company makes representations and warranties that it will service the loans in accordance with investor servicing guidelines and standards, which may include (i) collection and remittance of principal and interest, (ii) administration of escrow for taxes and insurance, (iii) advancing principal, interest, taxes, insurance, and collection expenses on delinquent accounts, and (iv) loss mitigation strategies, including loan modifications and foreclosures. The following table summarizes the changes in the Company’s reserve for residential mortgage loan repurchases: Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2018 2017 2018 2017 Balance, beginning of period $36 $40 $39 $40 Repurchase provision/(benefit) 1 — (2 ) — Charge-offs, net of recoveries (1 ) (1 ) (1 ) (1 ) Balance, end of period $36 $39 $36 $39 A significant degree of judgment is used to estimate the mortgage repurchase liability as the estimation process is inherently uncertain and subject to imprecision. The Company believes that its reserve appropriately estimates incurred losses based on its current analysis and assumptions. While the mortgage repurchase reserve includes the estimated cost of settling claims related to required repurchases, the Company's estimate of losses depends on its assumptions regarding GSE and other counterparty behavior, loan performance, home prices, and other factors. The liability is recorded in Other liabilities on the Consolidated Balance Sheets, and the related repurchase provision/(benefit) is recognized in Mortgage production related income in the Consolidated Statements of Income. See Note 17 , "Contingencies," for additional information on current legal matters related to loan sales. The following table summarizes the carrying value of the Company's outstanding repurchased residential mortgage loans: (Dollars in millions) September 30, 2018 December 31, 2017 Outstanding repurchased residential mortgage loans: Performing LHFI $189 $203 Nonperforming LHFI 17 16 Total carrying value of outstanding repurchased residential mortgages $206 $219 Residential mortgage loans sold to Ginnie Mae are insured by the FHA or are guaranteed by the VA . As servicer, the Company may elect to repurchase delinquent loans in accordance with Ginnie Mae guidelines; however, the loans continue to be insured. The Company may also indemnify the FHA and VA for losses related to loans not originated in accordance with their guidelines. Commercial Mortgage Loan Loss Share Guarantee In connection with the acquisition of Pillar , the Company assumed a loss share obligation associated with the terms of a master loss sharing agreement with Fannie Mae for multi-family commercial mortgage loans that were sold by Pillar to Fannie Mae under Fannie Mae ’s delegated underwriting and servicing program. Upon the acquisition of Pillar , the Company entered into a lender contract amendment with Fannie Mae for multi-family commercial mortgage loans that Pillar sold to Fannie Mae prior to acquisition and that the Company sold to Fannie Mae subsequent to acquisition, whereby the Company bears a risk of loss of up to one-third of the incurred losses resulting from borrower defaults. The breach of any representation or warranty related to a loan sold to Fannie Mae could increase the Company's level of risk-sharing associated with the loan. The outstanding UPB of loans sold subject to the loss share guarantee was $3.4 billion at both September 30, 2018 and December 31, 2017 . The maximum potential exposure to loss was $978 million and $962 million at September 30, 2018 and December 31, 2017 , respectively. Using probability of default and severity of loss estimates, the Company's loss share liability was $12 million and $11 million at September 30, 2018 and December 31, 2017 , respectively, and is recorded in Other liabilities on the Consolidated Balance Sheets. Visa The Company executes credit and debit transactions through Visa and Mastercard . The Company is a defendant, along with Visa and Mastercard (the “Card Associations”), as well as other banks, in one of several antitrust lawsuits challenging the practices of the Card Associations (the “Litigation”). The Company entered into judgment and loss sharing agreements with Visa and certain other banks in order to apportion financial responsibilities arising from any potential adverse judgment or negotiated settlements related to the Litigation. Additionally, in connection with Visa 's restructuring in 2007, shares of Visa common stock were issued to its financial institution members and the Company received its proportionate number of shares of Visa Inc. common stock, which were subsequently converted to Class B shares of Visa Inc. upon completion of Visa ’s IPO in 2008. A provision of the original Visa By-Laws, which was restated in Visa 's certificate of incorporation, contains a general indemnification provision between a Visa member and Visa that explicitly provides that each member's indemnification obligation is limited to losses arising from its own conduct and the specifically defined Litigation. While the district court approved a class action settlement of the Litigation in 2012 that settled the claims of both a damages class and an injunctive relief class, the U.S. Court of Appeals for the Second Circuit reversed the district court's approval of the settlement on June 30, 2016. The U.S. Supreme Court denied plaintiffs' petition for certiorari on March 27, 2017, and the case returned to the district court for further action. Since being remanded to the district court, plaintiffs have pursued two separate class actions—one class action seeking damages that names, among others, the Company as a defendant, and one class action seeking injunctive relief that does not name the Company as a defendant, but for which the Company could bear some responsibility under the judgment and loss sharing agreement described above. An agreement to resolve the claims of the damages class has been filed with the district court and is awaiting court approval. Agreements associated with Visa 's IPO have provisions that Visa will fund a litigation escrow account, established for the purpose of funding judgments in, or settlements of, the Litigation. If the escrow account is insufficient to cover the Litigation losses, then Visa will issue additional Class A shares (“loss shares”). The proceeds from the sale of the loss shares would then be deposited in the escrow account. The issuance of the loss shares will cause a dilution of Visa 's Class B shares as a result of an adjustment to lower the conversion factor of the Class B shares to Class A shares . Visa U.S.A.'s members are responsible for any portion of the settlement or loss on the Litigation after the escrow account is depleted and the value of the Class B shares is fully diluted. In May 2009, the Company sold its 3.2 million Class B shares to the Visa Counterparty and entered into a derivative with the Visa Counterparty . Under the derivative, the Visa Counterparty is compensated by the Company for any decline in the conversion factor as a result of the outcome of the Litigation. Conversely, the Company is compensated by the Visa Counterparty for any increase in the conversion factor. The amount of payments made or received under the derivative is a function of the 3.2 million shares sold to the Visa Counterparty , the change in conversion rate, and Visa ’s share price. The Visa Counterparty , as a result of its ownership of the Class B shares , is impacted by dilutive adjustments to the conversion factor of the Class B shares caused by the Litigation losses. Additionally, the Company will make periodic payments based on the notional of the derivative and a fixed rate until the date on which the Litigation is settled. The fair value of the derivative is estimated based on unobservable inputs consisting of management's estimate of the probability of certain litigation scenarios and the timing of the resolution of the Litigation due in large part to the aforementioned decision by the U.S. Court of Appeals for the Second Circuit. The fair value of the derivative liability was $7 million and $15 million at September 30, 2018 and December 31, 2017 , respectively. The fair value of the derivative is estimated based on the Company's expectations regarding the resolution of the Litigation. The ultimate impact to the Company could be significantly different based on the Litigation outcome. |
Derivative Financial Instrument
Derivative Financial Instruments | 9 Months Ended |
Sep. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | NOTE 15 - DERIVATIVE FINANCIAL INSTRUMENTS The Company enters into various derivative financial instruments, both in a dealer capacity to facilitate client transactions and as an end user as a risk management tool. The Company generally manages the risk associated with these derivatives within the established MRM and credit risk management frameworks. Derivatives may be used by the Company to hedge various economic or client-related exposures. In such instances, derivative positions are typically monitored using a VAR methodology, with exposures reviewed daily. Derivatives are also used as a risk management tool to hedge the Company’s balance sheet exposure to changes in identified cash flow and fair value risks, either economically or in accordance with hedge accounting provisions. The Company’s Corporate Treasury function is responsible for employing the various hedge strategies to manage these objectives. The Company enters into IRLC s on residential and commercial mortgage loans that are accounted for as freestanding derivatives. Additionally, certain contracts containing embedded derivatives are measured, in their entirety, at fair value. All derivatives, including both freestanding as well as any embedded derivatives that the Company bifurcates from the host contracts, are measured at fair value in the Consolidated Balance Sheets in Trading assets and derivative instruments and Trading liabilities and derivative instruments. The associated gains and losses are either recognized in AOCI, net of tax, or within the Consolidated Statements of Income, depending upon the use and designation of the derivatives. Credit and Market Risk Associated with Derivative Instruments Derivatives expose the Company to risk that the counterparty to the derivative contract does not perform as expected. The Company manages its exposure to counterparty credit risk associated with derivatives by entering into transactions with counterparties with defined exposure limits based on their credit quality and in accordance with established policies and procedures. All counterparties are reviewed regularly as part of the Company’s credit risk management practices and appropriate action is taken to adjust the exposure limits to certain counterparties as necessary. The Company’s derivative transactions are generally governed by ISDA agreements or other legally enforceable industry standard master netting agreements. In certain cases and depending on the nature of the underlying derivative transactions, bilateral collateral agreements are also utilized. Furthermore, the Company and its subsidiaries are subject to OTC derivative clearing requirements, which require certain derivatives to be cleared through central clearing houses, such as LCH and the CME . These clearing houses require the Company to post initial and variation margin to mitigate the risk of non-payment, the latter of which is received or paid daily based on the net asset or liability position of the contracts. Effective January 3, 2017, the CME amended its rulebook to legally characterize variation margin cash payments for cleared OTC derivatives as settlement rather than as collateral. Consistent with the CME 's amended requirements, LCH amended its rulebook effective January 16, 2018, to legally characterize variation margin cash payments for cleared OTC derivatives as settlement rather than as collateral. As a result, in the first quarter of 2018, the Company began reducing the corresponding derivative asset and liability balances for LCH -cleared OTC derivatives to reflect the settlement of those positions via the exchange of variation margin. When the Company has more than one outstanding derivative transaction with a single counterparty, and there exists a legal right of offset with that counterparty, the Company considers its exposure to the counterparty to be the net fair value of its derivative positions with that counterparty. If the net fair value is positive, then the corresponding asset value also reflects cash collateral held. At September 30, 2018 , the economic exposure of these net derivative asset positions was $404 million , reflecting $889 million of net derivative gains, adjusted for cash and other collateral of $485 million that the Company held in relation to these positions. At December 31, 2017 , the economic exposure of net derivative asset positions was $541 million , reflecting $940 million of net derivative gains, adjusted for cash and other collateral held of $399 million . Derivatives also expose the Company to market risk arising from the adverse effects that changes in market factors, such as interest rates, currency rates, equity prices, commodity prices, or implied volatility, may have on the value of the Company's derivatives. The Company manages this risk by establishing and monitoring limits on the types and degree of risk that may be undertaken. The Company measures its market risk exposure using a VAR methodology for derivatives designated as trading instruments. Other tools and risk measures are also used to actively manage risk associated with derivatives including scenario analysis and stress testing. Derivative instruments are priced using observable market inputs at a mid-market valuation point and take into consideration appropriate valuation adjustments for collateral, market liquidity, and counterparty credit risk. For purposes of determining fair value adjustments to its OTC derivative positions, the Company takes into consideration the credit profile and likelihood of default by counterparties and itself, as well as its net exposure, which considers legally enforceable master netting agreements and collateral along with remaining maturities. The expected loss of each counterparty is estimated using market-based views of counterparty default probabilities observed in the single-name CDS market, when available and of sufficient liquidity. When single-name CDS market data is not available or not of sufficient liquidity, the probability of default is estimated using a combination of the Company's internal risk rating system and sector/rating based CDS data. For purposes of estimating the Company’s own credit risk on derivative liability positions, the DVA , the Company uses probabilities of default from observable, sector/rating based CDS data. The net fair value of the Company's derivative contracts were adjusted by an immaterial amount for estimates of counterparty credit risk and its own credit risk at both September 30, 2018 and December 31, 2017 . For additional information on the Company's fair value measurements, see Note 16 , "Fair Value Election and Measurement." Currently, the industry standard master netting agreements governing the majority of the Company's derivative transactions with counterparties contain bilateral events of default and acceleration provisions related to the creditworthiness of the Bank and the counterparty. Should the Bank be in default under any of these provisions, the Bank’s counterparties would be permitted to close out transactions with the Bank on a net basis, at amounts that would approximate the fair values of the derivatives, resulting in a single sum due by one party to the other. The counterparties would have the right to apply any collateral posted by the Bank against any net amount owed by the Bank. Additionally, certain of the Company’s derivative liability positions, totaling $1.0 billion and $1.1 billion in fair value at September 30, 2018 and December 31, 2017 , respectively, contain provisions conditioned on downgrades of the Bank’s credit rating. These provisions, if triggered, would either give rise to an ATE that permits the counterparties to close-out net and apply collateral or, where a CSA is present, require the Bank to post additional collateral. At September 30, 2018 , the Bank held senior long-term debt credit ratings of Baal / A- / A- from Moody’s , S&P , and Fitch , respectively. At September 30, 2018 , ATE s have been triggered for less than $1 million in fair value liabilities. The maximum additional liability that could be triggered from ATE s was approximately $18 million at September 30, 2018 . At September 30, 2018 , $1.0 billion in fair value of derivative liabilities were subject to CSA s, against which the Bank has posted $918 million in collateral, primarily in the form of cash. Pursuant to the terms of the CSA , the Bank would be required to post additional collateral of approximately $2 million against these contracts if the Bank were downgraded to Baa2/BBB+. Further downgrades to Baa3/BBB and Ba1/BBB- would require the Bank to post an additional $3 million and $2 million of collateral, respectively. Any downgrades below Ba2/BB+ do not contain predetermined collateral posting levels. Notional and Fair Value of Derivative Positions The following table presents the Company’s derivative positions at September 30, 2018 and December 31, 2017 . The notional amounts in the table are presented on a gross basis at September 30, 2018 and December 31, 2017 . Gross positive and gross negative fair value amounts associated with respective notional amounts are presented without consideration of any netting agreements, including collateral arrangements. Net fair value derivative amounts are adjusted on an aggregate basis, where applicable, to take into consideration the effects of legally enforceable master netting agreements, including any cash collateral received or paid, and are recognized in Trading assets and derivative instruments or Trading liabilities and derivative instruments on the Consolidated Balance Sheets . September 30, 2018 December 31, 2017 Fair Value Fair Value (Dollars in millions) Notional Amounts Asset Derivatives Liability Derivatives Notional Amounts Asset Derivatives Liability Derivatives Derivative instruments designated in hedging relationships Cash flow hedges: 1 Interest rate contracts hedging floating rate LHFI $12,900 $2 $1 $14,200 $2 $252 Subtotal 12,900 2 1 14,200 2 252 Fair value hedges: 2 Interest rate contracts hedging fixed rate debt 7,705 2 — 5,920 1 58 Interest rate contracts hedging brokered time deposits 60 — — 60 — — Subtotal 7,765 2 — 5,980 1 58 Derivative instruments not designated as hedging instruments 3 Interest rate contracts hedging: Residential MSRs 4 25,690 18 20 42,021 119 119 LHFS, IRLCs 5 5,485 15 4 7,590 9 6 LHFI 183 — — 175 2 2 Trading activity 6 127,059 595 894 126,366 1,066 946 Foreign exchange rate contracts hedging loans and trading activity 7,418 106 91 7,058 110 102 Credit contracts hedging: LHFI 825 — 23 515 — 11 Trading activity 7 3,869 25 23 3,454 15 12 Equity contracts hedging trading activity 6 37,362 2,384 2,648 38,907 2,499 2,857 Other contracts: IRLCs and other 8 1,886 13 9 2,017 18 16 Commodity derivatives 1,678 118 116 1,422 63 61 Subtotal 211,455 3,274 3,828 229,525 3,901 4,132 Total derivative instruments $232,120 $3,278 $3,829 $249,705 $3,904 $4,442 Total gross derivative instruments (before netting) $3,278 $3,829 $3,904 $4,442 Less: Legally enforceable master netting agreements (2,185 ) (2,185 ) (2,731 ) (2,731 ) Less: Cash collateral received/paid (471 ) (946 ) (371 ) (1,303 ) Total derivative instruments (after netting) $622 $698 $802 $408 1 See “Cash Flow Hedging” in this Note for further discussion. 2 See “Fair Value Hedging” in this Note for further discussion. 3 See “Economic Hedging Instruments and Trading Activities” in this Note for further discussion. 4 Notional amounts include $5.6 billion and $16.6 billion related to interest rate futures at September 30, 2018 and December 31, 2017 , respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. 5 Notional amounts include $302 million and $190 million related to interest rate futures at September 30, 2018 and December 31, 2017 , respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. 6 Notional amounts include $4.9 billion and $9.8 billion related to interest rate futures at September 30, 2018 and December 31, 2017 , and $274 million and $1.2 billion related to equity futures at September 30, 2018 and December 31, 2017 , respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. Notional amounts also include amounts related to interest rate swaps hedging fixed rate debt. 7 Notional amounts include $7 million and $4 million from purchased credit risk participation agreements at September 30, 2018 and December 31, 2017 , and $33 million and $11 million from written credit risk participation agreements at September 30, 2018 and December 31, 2017 , respectively. These notional amounts are calculated as the notional of the derivative participated adjusted by the relevant RWA conversion factor. 8 Notional amounts include $41 million and $49 million related to the Visa derivative liability at September 30, 2018 and December 31, 2017 , respectively. See Note 14 , "Gua rantees" for additional information. Netting of Derivative Instruments The Company has various financial assets and financial liabilities that are subject to enforceable master netting agreements or similar agreements. The Company's securities borrowed or purchased under agreements to resell, and securities sold under agreements to repurchase, that are subject to enforceable master netting agreements or similar agreements, are discussed in Note 3 , "Federal Funds Sold and Securities Financing Activities." The Company enters into ISDA or other legally enforceable industry standard master netting agreements with derivative counterparties. Under the terms of the master netting agreements, all transactions between the Company and the counterparty constitute a single business relationship such that in the event of default, the nondefaulting party is entitled to set off claims and apply property held by that party in respect of any transaction against obligations owed. The following tables present total gross derivative instrument assets and liabilities at September 30, 2018 and December 31, 2017 , which are adjusted to reflect the effects of legally enforceable master netting agreements and cash collateral received or paid when calculating the net amount reported in the Consolidated Balance Sheets. Also included in the tables are financial instrument collateral related to legally enforceable master netting agreements that represents securities collateral received or pledged and customer cash collateral held at third party custodians. These amounts are not offset on the Consolidated Balance Sheets but are shown as a reduction to total derivative instrument assets and liabilities to derive net derivative assets and liabilities. These amounts are limited to the derivative asset/liability balance, and accordingly, do not include excess collateral received/pledged. (Dollars in millions) Gross Amount Amount Offset Net Amount Presented in Consolidated Balance Sheets Held/Pledged Financial Instruments Net Amount September 30, 2018 Derivative instrument assets: Derivatives subject to master netting arrangement or similar arrangement $2,940 $2,525 $415 $14 $401 Derivatives not subject to master netting arrangement or similar arrangement 14 — 14 — 14 Exchange traded derivatives 324 131 193 — 193 Total derivative instrument assets $3,278 $2,656 $622 1 $14 $608 Derivative instrument liabilities: Derivatives subject to master netting arrangement or similar arrangement $3,587 $3,000 $587 $58 $529 Derivatives not subject to master netting arrangement or similar arrangement 111 — 111 — 111 Exchange traded derivatives 131 131 — — — Total derivative instrument liabilities $3,829 $3,131 $698 2 $58 $640 December 31, 2017 Derivative instrument assets: Derivatives subject to master netting arrangement or similar arrangement $3,491 $2,923 $568 $28 $540 Derivatives not subject to master netting arrangement or similar arrangement 18 — 18 — 18 Exchange traded derivatives 395 179 216 — 216 Total derivative instrument assets $3,904 $3,102 $802 1 $28 $774 Derivative instrument liabilities: Derivatives subject to master netting arrangement or similar arrangement $4,128 $3,855 $273 $27 $246 Derivatives not subject to master netting arrangement or similar arrangement 130 — 130 — 130 Exchange traded derivatives 184 179 5 — 5 Total derivative instrument liabilities $4,442 $4,034 $408 2 $27 $381 1 At September 30, 2018 , $622 million , net of $471 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2017 , $802 million , net of $371 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. 2 At September 30, 2018 , $698 million , net of $946 million offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2017 , $408 million , net of $1.3 billion offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. Fair Value and Cash Flow Hedging Instruments Fair Value Hedging The Company enters into interest rate swap agreements as part of its risk management objectives for hedging exposure to changes in fair value due to changes in interest rates. These hedging arrangements convert certain fixed rate long-term debt and CD s to floating rates. Subsequent to the adoption of ASU 2017-12, changes in the fair value of the hedging instrument attributable to the hedged risk are recognized in the same income statement line as the earnings impact from the hedged item. There were no components of derivative gains or losses excluded in the Company’s assessment of hedge effectiveness related to the fair value hedges. For additional information on the Company's adoption of ASU 2017-12 and related policy updates, see Note 1 , “Significant Accounting Policies.” Cash Flow Hedging The Company utilizes a comprehensive risk management strategy to monitor sensitivity of earnings to movements in interest rates. Specific types of funding and principal amounts hedged are determined based on prevailing market conditions and the shape of the yield curve. In conjunction with this strategy, the Company may employ various interest rate derivatives as risk management tools to hedge interest rate risk from recognized assets and liabilities or from forecasted transactions. The terms and notional amounts of derivatives are determined based on management’s assessment of future interest rates, as well as other factors. The Company enters into interest rate swaps designated as cash flow hedging instruments to hedge its exposure to benchmark interest rate risk associated with floating rate loans. For the three and nine months ended September 30, 2018 , the amount of pre-tax loss recognized in OCI on derivative instruments was $48 million and $274 million , respectively. For the three and nine months ended September 30, 2017 , the amount of pre-tax gain recognized in OCI on derivative instruments was $10 million and $61 million , respectively. At September 30, 2018 , the maturities for hedges of floating rate loans ranged from less than one year to seven years, with the weighted average being 3.1 years. At December 31, 2017 , the maturities for hedges of floating rate loans ranged from less than one year to five years, with the weighted average being 3.6 years. These hedges have been highly effective in offsetting the designated risks. At September 30, 2018 , $135 million of deferred net pre-tax losses on derivative instruments designated as cash flow hedges on floating rate loans recognized in AOCI are expected to be reclassified into net interest income during the next twelve months. The amount to be reclassified into income incorporates the impact from both active and terminated cash flow hedges, including the net interest income earned on the active hedges, assuming no changes in LIBOR . The Company may choose to terminate or de-designate a hedging relationship due to a change in the risk management objective for that specific hedge item, which may arise in conjunction with an overall balance sheet management strategy. Pursuant to the adoption of ASU 2017-12, the following table presents gains and losses on derivatives in fair value and cash flow hedging relationships by contract type and by income statement line item for the three and nine months ended September 30, 2018 . For the three and nine months ended September 30, 2017 the amounts presented below were not conformed to the new hedge accounting guidance. The table does not disclose the financial impact of the activities that these derivative instruments are intended to hedge. Net Interest Income Noninterest Income (Dollars in millions) Interest and fees on LHFI Interest on Long-term Debt Interest on Deposits Trading Income Total Three Months Ended September 30, 2018 Interest income/(expense), including the effects of fair value and cash flow hedges $1,549 ($95 ) ($193 ) $42 $1,303 (Loss)/gain on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $— ($2 ) $— $— ($2 ) Recognized on derivatives — (33 ) — — (33 ) Recognized on hedged items — 31 1 — — 31 Net expense recognized on fair value hedges $— ($4 ) $— $— ($4 ) Loss on cash flow hedging relationships: Interest rate contracts: Amount of pre-tax loss reclassified from AOCI into income ($22 ) 2 $— $— $— ($22 ) Net expense recognized on cash flow hedges ($22 ) $— $— $— ($22 ) Nine Months Ended September 30, 2018 Interest income/(expense), including the effects of fair value and cash flow hedges $4,424 ($252 ) ($484 ) $137 $3,825 (Loss)/gain on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $— ($1 ) $— $— ($1 ) Recognized on derivatives — (130 ) — — (130 ) Recognized on hedged items — 124 1 — — 124 Net expense recognized on fair value hedges $— ($7 ) $— $— ($7 ) Loss on cash flow hedging relationships: Interest rate contracts: Amount of pre-tax loss reclassified from AOCI into income ($39 ) 2 $— $— $— ($39 ) Net expense recognized on cash flow hedges ($39 ) $— $— $— ($39 ) Three Months Ended September 30, 2017 Interest income/(expense), including the effects of fair value and cash flow hedges $1,382 ($76 ) ($111 ) $51 $1,246 Gain/(loss) on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $— $3 $— $— $3 Recognized on derivatives — — — (3 ) (3 ) Recognized on hedged items — — — 3 3 Net income recognized on fair value hedges $— $3 $— $— $3 Gain on cash flow hedging relationships: Interest rate contracts: Amount of pre-tax gain reclassified from AOCI into income $13 2 $— $— $— $13 Net income recognized on cash flow hedges $13 $— $— $— $13 Nine Months Ended September 30, 2017 Interest income/(expense), including the effects of fair value and cash flow hedges $4,009 ($216 ) ($286 ) $148 $3,655 Gain/(loss) on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $— $12 $— $— $12 Recognized on derivatives — — — 5 5 Recognized on hedged items — — — (4 ) (4 ) Net income recognized on fair value hedges $— $12 $— $1 $13 Gain on cash flow hedging relationships: Interest rate contracts: Amount of pre-tax gain reclassified from AOCI into income $81 2 $— $— $— $81 Net income recognized on cash flow hedges $81 $— $— $— $81 1 Includes amortization from de-designated fair value hedging relationships. 2 These amounts include pre-tax gains/(losses) related to cash flow hedging relationships that have been terminated and were reclassified into earnings consistent with the pattern of net cash flows expected to be recognized. The following table presents the carrying amount of hedged liabilities on the Consolidated Balance Sheets in fair value hedging relationships and the associated cumulative basis adjustment related to the application of hedge accounting: Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of Hedged Liabilities (Dollars in millions) Carrying Amount of Hedged Liabilities Hedged Items Currently Designated Hedged Items No Longer Designated September 30, 2018 Long-term debt $6,495 ($170 ) ($73 ) Brokered time deposits 29 — — Economic Hedging Instruments and Trading Activities In addition to designated hedge accounting relationships, the Company also enters into derivatives as an end user to economically hedge risks associated with certain non-derivative and derivative instruments, along with entering into derivatives in a trading capacity with its clients. The primary risks that the Company economically hedges are interest rate risk, foreign exchange risk, and credit risk. The Company mitigates these risks by entering into offsetting derivatives either on an individual basis or collectively on a macro basis. The Company utilizes interest rate derivatives as economic hedges related to: • Residential MSRs . The Company hedges these instruments with a combination of interest rate derivatives, including forward and option contracts, futures, and forward rate agreements. • Residential mortgage IRLC s and LHFS . The Company hedges these instruments using forward and option contracts, futures, and forward rate agreements. The Company is exposed to volatility and changes in foreign exchange rates associated with certain commercial loans. To hedge against this foreign exchange rate risk, the Company enters into foreign exchange rate contracts that provide for the future receipt and delivery of foreign currency at previously agreed-upon terms. The Company enters into CDS to hedge credit risk associated with certain loans held within its Wholesale segment. The Company accounts for these contracts as derivatives, and accordingly, recognizes these contracts at fair value, with changes in fair value recognized in Other noninterest income in the Consolidated Statements of Income. Trading activity primarily includes interest rate swaps, equity derivatives, CDS , futures, options, foreign exchange rate contracts, and commodity derivatives. These derivatives are entered into in a dealer capacity to facilitate client transactions, or are utilized as a risk management tool by the Company as an end user (predominantly in certain macro-hedging strategies). The impacts of derivative instruments used for economic hedging or trading purposes on the Consolidated Statements of Income are presented in the following table: Classification of (Loss)/Gain Recognized in Income on Derivatives Amount of (Loss)/Gain Recognized in Income on Derivatives During the Three Months Ended September 30 Amount of (Loss)/Gain Recognized in Income on Derivatives During the Nine Months Ended September 30 (Dollars in millions) 2018 2017 2018 2017 Derivative instruments not designated as hedging instruments: Interest rate contracts hedging: Residential MSRs Mortgage servicing related income ($54 ) $17 ($210 ) $41 LHFS, IRLCs Mortgage production related income 10 (20 ) 57 (57 ) LHFI Other noninterest income 1 — 3 (1 ) Trading activity Trading income 18 11 48 33 Foreign exchange rate contracts hedging loans and trading activity Trading income 9 (10 ) 49 (43 ) Credit contracts hedging: LHFI Other noninterest income (5 ) (1 ) (5 ) (3 ) Trading activity Trading income 5 8 16 19 Equity contracts hedging trading activity Trading income 6 (1 ) 8 (1 ) Other contracts: IRLCs and other Mortgage production related income, 19 49 39 154 Commodity derivatives Trading income — — — 1 Total $9 $53 $5 $143 Credit Derivative Instruments As part of the Company's trading businesses, the Company enters into contracts that are, in form or substance, written guarantees; specifically, CDS , risk participations, and TRS . The Company accounts for these contracts as derivatives, and accordingly, records these contracts at fair value, with changes in fair value recognized in Trading income in the Consolidated Statements of Income. At September 30, 2018 , there were no purchased CDS contracts designated as trading instruments. At December 31, 2017 , the gross notional amount of purchased CDS contracts designated as trading instruments was $5 million . The fair value of purchased CDS was immaterial at December 31, 2017 . The Company has also entered into TRS contracts on loans. The Company’s TRS business consists of matched trades, such that when the Company pays depreciation on one TRS , it receives the same amount on the matched TRS . To mitigate its credit risk, the Company typically receives initial cash collateral from the counterparty upon entering into the TRS and is entitled to additional collateral if the fair value of the underlying reference assets deteriorates. There were $1.9 billion and $1.7 billion of outstanding TRS notional balances at September 30, 2018 and December 31, 2017 , respectively. The fair values of these TRS assets and liabilities at September 30, 2018 were $25 million and $23 million , respectively, and related cash collateral held at September 30, 2018 was $486 million . The fair values of the TRS assets and liabilities at December 31, 2017 were $15 million and $13 million , respectively, and related cash collateral held at December 31, 2017 was $368 million . For additional information on the Company's TRS contracts, see Note 10 , "Certain Transfers of Financial Assets and Variable Interest Entities," as well as Note 16 , "Fair Value Election and Measurement." The Company writes risk participations, which are credit derivatives, whereby the Company has guaranteed payment to a dealer counterparty in the event the counterparty experiences a loss on a derivative, such as an interest rate swap, due to a failure to pay by the counterparty’s customer (the “obligor”) on that derivative. The Company manages its payment risk on its risk participations by monitoring the creditworthiness of the obligors, which are all corporations or partnerships, through the normal credit review process that the Company would have performed had it entered into a derivative directly with the obligors. To date, no material losses have been incurred related to the Company’s written risk participations. At September 30, 2018 , the remaining terms on these risk participations generally ranged from less than one year to 11 years, with a weighted average term on the maximum estimated exposure of 6.4 years. At December 31, 2017 , the remaining terms on these risk participations generally ranged from less than one year to nine years, with a weighted average term on the maximum estimated exposure of 5.5 years. The Company’s maximum estimated exposure to written risk participations, as measured by projecting a maximum value of the guaranteed derivative instruments based on interest rate curve simulations and assuming 100% default by all obligors on the maximum values, was approximately $230 million and $55 million at September 30, 2018 and December 31, 2017 , respectively. The fair values of the written risk participations were immaterial at both September 30, 2018 and December 31, 2017 . |
Fair Value Election and Measure
Fair Value Election and Measurement | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Election and Measurement | NOTE 16 - FAIR VALUE ELECTION AND MEASUREMENT The Company measures certain assets and liabilities at fair value, which are classified as level 1, 2, or 3 within the fair value hierarchy, as shown below, on the basis of whether the measurement employs observable or unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s own assumptions, taking into account information about market participant assumptions that is readily available. • Level 1: Quoted prices for identical instruments in active markets • Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets • Level 3: Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. The Company’s recurring fair value measurements are based on either a requirement to measure such assets and liabilities at fair value or on the Company’s election to measure certain financial assets and liabilities at fair value. Assets and liabilities that are required to be measured at fair value on a recurring basis include trading securities, securities AFS, and derivative financial instruments. Assets and liabilities that the Company has elected to measure at fair value on a recurring basis include its residential MSRs, trading loans, and certain LHFS, LHFI, brokered time deposits, and long-term debt issuances. The Company elects to measure certain assets and liabilities at fair value to better align its financial performance with the economic value of actively traded or hedged assets or liabilities. The use of fair value also enables the Company to mitigate non-economic earnings volatility caused from financial assets and liabilities being measured using different bases of accounting, as well as to more accurately portray the active and dynamic management of the Company’s balance sheet. The Company uses various valuation techniques and assumptions in estimating fair value. The assumptions used to estimate the value of an instrument have varying degrees of impact to the overall fair value of an asset or liability. This process involves gathering multiple sources of information, including broker quotes, values provided by pricing services, trading activity in other identical or similar securities, market indices, and pricing matrices. When observable market prices for the asset or liability are not available, the Company employs various modeling techniques, such as discounted cash flow analyses, to estimate fair value. Models used to produce material financial reporting information are validated prior to use and following any material change in methodology. Their performance is monitored at least quarterly, and any material deterioration in model performance is escalated. The Company has formal processes and controls in place to support the appropriateness of its fair value estimates. For fair values obtained from a third party, or those that include certain trader estimates of fair value, there is an independent price validation function that provides oversight for these estimates. For level 2 instruments and certain level 3 instruments, the validation generally involves evaluating pricing received from two or more third party pricing sources that are widely used by market participants. The Company evaluates this pricing information from both a qualitative and quantitative perspective and determines whether any pricing differences exceed acceptable thresholds. If thresholds are exceeded, the Company assesses differences in valuation approaches used, which may include contacting a pricing service to gain further insight into the valuation of a particular security or class of securities to resolve the pricing variance, which could include an adjustment to the price used for financial reporting purposes. The Company classifies instruments within level 2 in the fair value hierarchy when it determines that external pricing sources estimated fair value using prices for similar instruments trading in active markets. A wide range of quoted values from pricing sources may imply a reduced level of market activity and indicate that significant adjustments to price indications have been made. In such cases, the Company evaluates whether the asset or liability should be classified as level 3. Determining whether to classify an instrument as level 3 involves judgment and is based on a variety of subjective factors, including whether a market is inactive. A market is considered inactive if significant decreases in the volume and level of activity for the asset or liability have been observed. Recurring Fair Value Measurements The following tables present certain information regarding assets and liabilities measured at fair value on a recurring basis and the changes in fair value for those specific financial instruments for which fair value has been elected. September 30, 2018 Fair Value Measurements (Dollars in millions) Level 1 Level 2 Level 3 Netting Adjustments 1 Assets/Liabilities at Fair Value Assets Trading assets and derivative instruments: U.S. Treasury securities $247 $— $— $— $247 Federal agency securities — 507 — — 507 U.S. states and political subdivisions — 91 — — 91 MBS - agency — 743 — — 743 Corporate and other debt securities — 820 — — 820 CP — 408 — — 408 Equity securities 67 — — — 67 Derivative instruments 324 2,942 12 (2,656 ) 622 Trading loans — 2,171 — — 2,171 Total trading assets and derivative instruments 638 7,682 12 (2,656 ) 5,676 Securities AFS: U.S. Treasury securities 4,133 — — — 4,133 Federal agency securities — 223 — — 223 U.S. states and political subdivisions — 602 — — 602 MBS - agency residential — 22,505 — — 22,505 MBS - agency commercial — 2,602 — — 2,602 MBS - non-agency commercial — 905 — — 905 Corporate and other debt securities — 14 — — 14 Total securities AFS 2 4,133 26,851 — — 30,984 LHFS — 1,822 — — 1,822 LHFI — — 168 — 168 Residential MSRs — — 2,062 — 2,062 Other assets 2 92 — — — 92 Liabilities Trading liabilities and derivative instruments: U.S. Treasury securities 742 — — — 742 Corporate and other debt securities — 411 — — 411 Equity securities 12 — — — 12 Derivative instruments 132 3,688 9 (3,131 ) 698 Total trading liabilities and derivative instruments 886 4,099 9 (3,131 ) 1,863 Brokered time deposits — 384 — — 384 Long-term debt — 235 — — 235 1 Amounts represent offsetting cash collateral received from, and paid to, the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. See Note 15 , "Derivative Financial Instruments," for additional information. 2 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability . See Note 9 , "Other Assets," for additional information. December 31, 2017 Fair Value Measurements (Dollars in millions) Level 1 Level 2 Level 3 Netting Adjustments 1 Assets/Liabilities at Fair Value Assets Trading assets and derivative instruments: U.S. Treasury securities $157 $— $— $— $157 Federal agency securities — 395 — — 395 U.S. states and political subdivisions — 61 — — 61 MBS - agency — 700 — — 700 Corporate and other debt securities — 655 — — 655 CP — 118 — — 118 Equity securities 56 — — — 56 Derivative instruments 395 3,493 16 (3,102 ) 802 Trading loans — 2,149 — — 2,149 Total trading assets and derivative instruments 608 7,571 16 (3,102 ) 5,093 Securities AFS: U.S. Treasury securities 4,331 — — — 4,331 Federal agency securities — 259 — — 259 U.S. states and political subdivisions — 617 — — 617 MBS - agency residential — 22,704 — — 22,704 MBS - agency commercial — 2,086 — — 2,086 MBS - non-agency residential — — 59 — 59 MBS - non-agency commercial — 866 — — 866 ABS — — 8 — 8 Corporate and other debt securities — 12 5 — 17 Total securities AFS 2 4,331 26,544 72 — 30,947 LHFS — 1,577 — — 1,577 LHFI — — 196 — 196 Residential MSRs — — 1,710 — 1,710 Other assets 2 56 — — — 56 Liabilities Trading liabilities and derivative instruments: U.S. Treasury securities 577 — — — 577 Corporate and other debt securities — 289 — — 289 Equity securities 9 — — — 9 Derivative instruments 183 4,243 16 (4,034 ) 408 Total trading liabilities and derivative instruments 769 4,532 16 (4,034 ) 1,283 Brokered time deposits — 236 — — 236 Long-term debt — 530 — — 530 1 Amounts represent offsetting cash collateral received from, and paid to, the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. See Note 15 , "Derivative Financial Instruments," for additional information. 2 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability . See Note 9 , "Other Assets," for additional information. The following tables present the difference between fair value and the aggregate UPB for which the FVO has been elected for certain trading loans, LHFS, LHFI, brokered time deposits, and long-term debt instruments. (Dollars in millions) Fair Value at September 30, 2018 Aggregate UPB at September 30, 2018 Fair Value Over/(Under) Unpaid Principal Assets: Trading loans $2,171 $2,160 $11 LHFS: Accruing 1,822 1,775 47 LHFI: Accruing 162 171 (9 ) Nonaccrual 6 8 (2 ) Liabilities: Brokered time deposits 384 379 5 Long-term debt 235 230 5 (Dollars in millions) Fair Value at December 31, 2017 Aggregate UPB at December 31, 2017 Fair Value Over/(Under) Unpaid Principal Assets: Trading loans $2,149 $2,111 $38 LHFS: Accruing 1,576 1,533 43 Past due 90 days or more 1 1 — LHFI: Accruing 192 198 (6 ) Nonaccrual 4 6 (2 ) Liabilities: Brokered time deposits 236 233 3 Long-term debt 530 517 13 The following tables present the changes in fair value of financial instruments for which the FVO has been elected. The tables do not reflect the change in fair value attributable to related economic hedges that the Company uses to mitigate market-related risks associated with the financial instruments. Generally, changes in the fair value of economic hedges are recognized in Trading income, Mortgage production related income, Mortgage servicing related income, Commercial real estate related income, or Other noninterest income as appropriate, and are designed to partially offset the change in fair value of the financial instruments referenced in the tables below. The Company’s economic hedging activities are deployed at both the instrument and portfolio level. Fair Value Gain/(Loss) for the Three Months Ended September 30, 2018 for Items Measured at Fair Value Pursuant to Election of the FVO Fair Value Gain/(Loss) for the Nine Months Ended September 30, 2018 for Items Measured at Fair Value Pursuant to Election of the FVO (Dollars in millions) Trading Income Mortgage Production Related Income 1 Mortgage Servicing Related Income Other Noninterest Income Total Changes in Fair Values Included in Earnings 2 Trading Income Mortgage 1 Mortgage Servicing Related Income Other Noninterest Income Total Changes in Fair Values Included in Earnings 2 Assets: Trading loans $3 $— $— $— $3 $10 $— $— $— $10 LHFS — 5 — — 5 — (3 ) — — (3 ) LHFI — — — (1 ) (1 ) — — — (4 ) (4 ) Residential MSRs — 3 (11 ) — (8 ) — 7 15 — 22 Liabilities: Brokered time deposits (4 ) — — — (4 ) 6 — — — 6 Long-term debt 1 — — — 1 6 — — — 6 1 Income related to LHFS does not include income from IRLC s. For the three and nine months ended September 30, 2018 , income related to residential MSRs includes income recognized upon the sale of loans reported at LOCOM . 2 Changes in fair value for the three and nine months ended September 30, 2018 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS, LHFI, brokered time deposits, and long-term debt that have been elected to be measured at fair value are recognized in Interest income or Interest expense in the Consolidated Statements of Income. Fair Value Gain/(Loss) for the Three Months Ended September 30, 2017 for Items Measured at Fair Value Pursuant to Election of the FVO Fair Value Gain/(Loss) for the Nine Months Ended September 30, 2017 for Items Measured at Fair Value Pursuant to Election of the FVO (Dollars in millions) Trading Income Mortgage Production Related Income 1 Mortgage Servicing Related Income Other Noninterest Income Total Changes in Fair Values Included in Earnings 2 Trading Mortgage 1 Mortgage Other Total 2 Assets: Trading loans $8 $— $— $— $8 $16 $— $— $— $16 LHFS — 21 — — 21 — 44 — — 44 LHFI — — — — — — — — 1 1 Residential MSRs — 1 (70 ) — (69 ) — 3 (195 ) — (192 ) Liabilities: Brokered time deposits — — — — — 2 — — — 2 Long-term debt 5 — — — 5 16 — — — 16 1 Income related to LHFS does not include income from IRLC s. For the three and nine months ended September 30, 2017 , income related to residential MSRs includes income recognized upon the sale of loans reported at LOCOM . 2 Changes in fair value for the three and nine months ended September 30, 2017 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS, LHFI, brokered time deposits, and long-term debt that have been elected to be measured at fair value are recognized in Interest income or Interest expense in the Consolidated Statements of Income. The following is a discussion of the valuation techniques and inputs used in estimating fair value for assets and liabilities measured at fair value on a recurring basis. Trading Assets and Derivative Instruments and Investment Securities Unless otherwise indicated, trading assets are priced by the trading desk and investment securities are valued by an independent third party pricing service. The third party pricing service gathers relevant market data and observable inputs, such as new issue data, benchmark curves, reported trades, credit spreads, and dealer bids and offers, and integrates relevant credit information, market movements, and sector news into its matrix pricing and other market-based modeling techniques. U.S. Treasury Securities The Company estimates the fair value of its U.S. Treasury securities based on quoted prices observed in active markets; as such, these investments are classified as level 1. Federal Agency Securities The Company includes in this classification securities issued by federal agencies and GSE s. Agency securities consist of debt obligations issued by HUD , FHLB , and other agencies, as well as securities collateralized by loans that are guaranteed by the SBA , and thus, are backed by the full faith and credit of the U.S. government. For SBA instruments, the Company estimates fair value based on pricing from observable trading activity for similar securities or from a third party pricing service. Accordingly, these instruments are classified as level 2. U.S. States and Political Subdivisions The Company’s investments in U.S. states and political subdivisions (collectively “municipals”) include obligations of county and municipal authorities and agency bonds, which are general obligations of the municipality or are supported by a specified revenue source. Holdings are geographically dispersed, with no significant concentrations in any one state or municipality. Additionally, all AFS municipal obligations classified as level 2 are highly rated or are otherwise collateralized by securities backed by the full faith and credit of the federal government. MBS – Agency Agency MBS includes pass-through securities and collateralized mortgage obligations issued by GSE s and U.S. government agencies, such as Fannie Mae , Freddie Mac , and Ginnie Mae . Each security contains a guarantee by the issuing GSE or agency. For agency MBS , the Company estimates fair value based on pricing from observable trading activity for similar securities or from a third party pricing service; accordingly, the Company classified these instruments as level 2. MBS – Non-Agency Non-agency residential MBS includes purchased interests in third party securitizations, as well as retained interests in Company-sponsored securitizations of 2006 and 2007 vintage residential mortgages (including both prime jumbo fixed rate collateral and floating rate collateral). At the time of purchase or origination, these securities had high investment grade ratings; however, they have experienced deterioration in credit quality leading to downgrades to non-investment grade levels. The Company obtains pricing for these securities from an independent pricing service. The Company evaluates third party pricing to determine the reasonableness of the information relative to changes in market data, such as any recent trades, information received from market participants and analysts, and/or changes in the underlying collateral performance. At December 31, 2017 , the Company classified non-agency residential MBS as level 3. Non-agency commercial MBS consists of purchased interests in third party securitizations. These interests have high investment grade ratings, and the Company obtains pricing for these securities from an independent pricing service. The Company has classified these non-agency commercial MBS as level 2, as the third party pricing service relies on observable data for similar securities in active markets. Asset-Backed Securities ABS classified as securities AFS includes purchased interests in third party securitizations collateralized by home equity loans. At December 31, 2017 , the Company classified ABS as level 3. Corporate and Other Debt Securities Corporate debt securities are comprised predominantly of senior and subordinate debt obligations of domestic corporations and are classified as level 2. Other debt securities classified as AFS include bonds that are redeemable with the issuer at par. At September 30, 2018 and December 31, 2017 , the Company classified other debt securities AFS as level 2 and level 3, respectively. Commercial Paper The Company acquires CP that is generally short-term in nature (maturity of less than 30 days) and highly rated. The Company estimates the fair value of this CP based on observable pricing from executed trades of similar instruments; as such, CP is classified as level 2. Equity Securities The Company estimates the fair value of its equity securities classified as trading assets based on quoted prices observed in active markets; accordingly, these investments are classified as level 1. Derivative Instruments The Company holds derivative instruments for both trading and risk management purposes. Level 1 derivative instruments generally include exchange-traded futures or option contracts for which pricing is readily available. The Company’s level 2 instruments are predominantly OTC swaps, options, and forwards, measured using observable market assumptions for interest rates, foreign exchange, equity, and credit. Because fair values for OTC contracts are not readily available, the Company estimates fair values using internal, but standard, valuation models. The selection of valuation models is driven by the type of contract: for option-based products, the Company uses an appropriate option pricing model such as Black-Scholes. For forward-based products, the Company’s valuation methodology is generally a discounted cash flow approach. The Company's derivative instruments classified as level 2 are primarily transacted in the institutional dealer market and priced with observable market assumptions at a mid-market valuation point, with appropriate valuation adjustments for liquidity and credit risk. See Note 15 , “Derivative Financial Instruments, ” for additional information on the Company's derivative instruments. The Company's derivative instruments classified as level 3 include IRLC s that satisfy the criteria to be treated as derivative financial instruments. The fair value of IRLC s on LHFS, while based on interest rates observable in the market, is highly dependent on the ultimate closing of the loans. These “pull-through” rates are based on the Company’s historical data and reflect the Company’s best estimate of the likelihood that a commitment will result in a closed loan. As pull-through rates increase, the fair value of IRLC s also increases. Servicing value is included in the fair value of IRLC s, and the fair value of servicing is determined by projecting cash flows, which are then discounted to estimate an expected fair value. The fair value of servicing is impacted by a variety of factors, including prepayment assumptions, discount rates, delinquency rates, contractually specified servicing fees, servicing costs, and underlying portfolio characteristics. Because these inputs are not transparent in market trades, IRLC s are considered to be level 3 assets. During the three and nine months ended September 30, 2018 , the Company transferred $26 million and $43 million , respectively, of net IRLC assets out of level 3 as the associated loans were closed. During the three and nine months ended September 30, 2017 , the Company transferred $51 million and $157 million , respectively, of net IRLC assets out of level 3, as the associated loans were closed. Trading Loans The Company engages in certain businesses whereby electing to measure loans at fair value for financial reporting aligns with the underlying business purpose. Specifically, loans included within this classification include trading loans that are (i) made or acquired in connection with the Company’s TRS business, (ii) part of the loan sales and trading business within the Company’s Wholesale segment, or (iii) backed by the SBA . See Note 10 , "Certain Transfers of Financial Assets and Variable Interest Entities," and Note 15 , “Derivative Financial Instruments,” for further discussion of this business. All of these loans are classified as level 2 due to the nature of market data that the Company uses to estimate fair value. The loans made in connection with the Company’s TRS business are short-term, senior demand loans supported by a pledge agreement granting first priority security interest to the Bank in all the assets held by the borrower, a VIE with assets comprised primarily of corporate loans. While these TRS -related loans do not trade in the market, the Company believes that the par amount of the loans approximates fair value and no unobservable assumptions are used by the Company to value these loans. At September 30, 2018 and December 31, 2017 , the Company had $1.9 billion and $1.7 billion , respectively, of these short-term loans outstanding, measured at fair value. The loans from the Company’s sales and trading business are commercial and corporate leveraged loans that are either traded in the market or for which similar loans trade. The Company elected to measure these loans at fair value since they are actively traded. For each of the three and nine months ended September 30, 2018 and 2017 , the Company recognized an immaterial amount of gains/(losses) in the Consolidated Statements of Income due to changes in fair value attributable to instrument-specific credit risk. The Company is able to obtain fair value estimates for substantially all of these loans through a third party valuation service that is broadly used by market participants. While most of the loans are traded in the market, the Company does not believe that trading activity qualifies the loans as level 1 instruments, as the volume and level of trading activity is subject to variability and the loans are not exchange-traded. At September 30, 2018 and December 31, 2017 , $65 million and $48 million , respectively, of loans related to the Company’s trading business were held in inventory. SBA loans are similar to SBA securities discussed herein under “Federal agency securities,” except for their legal form. In both cases, the Company trades instruments that are fully guaranteed by the U.S. government as to contractual principal and interest and there is sufficient observable trading activity upon which to base the estimate of fair value. As these SBA loans are fully guaranteed, the changes in fair value are attributable to factors other than instrument-specific credit risk. At September 30, 2018 and December 31, 2017 , the Company held $182 million and $368 million of SBA loans in inventory, respectively. Loans Held for Sale and Loans Held for Investment Residential Mortgage LHFS The Company values certain newly-originated residential mortgage LHFS at fair value based upon defined product criteria. The Company chooses to fair value these residential mortgage LHFS to eliminate the complexities and inherent difficulties of achieving hedge accounting and to better align reported results with the underlying economic changes in value of the loans and related hedge instruments. Any origination fees are recognized within Mortgage production related income in the Consolidated Statements of Income when earned at the time of closing. The servicing value is included in the fair value of the loan and is initially recognized at the time the Company enters into IRLC s with borrowers. The Company employs derivative instruments to economically hedge changes in interest rates and the related impact on servicing value in the fair value of the loan. The mark-to-market adjustments related to LHFS and the associated economic hedges are captured in Mortgage production related income. LHFS classified as level 2 are primarily agency loans which trade in active secondary markets and are priced using current market pricing for similar securities, adjusted for servicing, interest rate risk, and credit risk. Non-agency residential mortgage LHFS are also included in level 2. For residential mortgages that the Company has elected to measure at fair value, the Company recognized an immaterial amount of gains/(losses) in the Consolidated Statements of Income due to changes in fair value attributable to borrower-specific credit risk for each of the three and nine months ended September 30, 2018 and 2017 . In addition to borrower-specific credit risk, there are other more significant variables that drive changes in the fair values of the loans, including interest rates and general market conditions. Commercial Mortgage LHFS The Company values certain commercial mortgage LHFS at fair value based upon observable current market prices for similar loans. These loans are generally transferred to agencies within 90 days of origination. The Company had commitments from agencies to purchase these loans at September 30, 2018 and December 31, 2017 ; therefore, they are classified as level 2. Origination fees are recognized within Commercial real estate related income in the Consolidated Statements of Income when earned at the time of closing. To mitigate the effect of interest rate risk inherent in entering into IRLCs with borrowers, the Company enters into forward contracts with investors at the same time that it enters into IRLCs with borrowers. The mark-to-market adjustments related to commercial mortgage LHFS, IRLCs, and forward contracts are recognized in Commercial real estate related income. For commercial mortgages that the Company has elected to measure at fair value, the Company recognized no gains/(losses) in the Consolidated Statements of Income due to changes in fair value attributable to borrower-specific credit risk for each of the three and nine months ended September 30, 2018 and 2017 . LHFI LHFI classified as level 3 includes predominantly mortgage loans that are not marketable, largely due to the identification of loan defects. The Company chooses to measure these mortgage LHFI at fair value to better align reported results with the underlying economic changes in value of the loans and any related hedging instruments. The Company values these loans using a discounted cash flow approach based on assumptions that are generally not observable in current markets, such as prepayment speeds, default rates, loss severity rates, and discount rates. Level 3 LHFI also includes mortgage loans that are valued using collateral based pricing. Changes in the applicable housing price index since the time of the loan origination are considered and applied to the loan's collateral value. An additional discount representing the return that a buyer would require is also considered in the overall fair value. Residential Mortgage Servicing Rights The Company records residential MSR assets at fair value using a discounted cash flow approach. The fair values of residential MSRs are impacted by a variety of factors, including prepayment assumptions, discount rates, delinquency rates, contractually specified servicing fees, servicing costs, and underlying portfolio characteristics. The underlying assumptions and estimated values are corroborated by values received from independent third parties based on their review of the servicing portfolio, and comparisons to market transactions. Because these inputs are not transparent in market trades, residential MSRs are classified as level 3 assets. For additional information see Note 8 , "Goodwill and Other Intangible Assets." Other Assets The Company estimates the fair value of its mutual fund investments and other equity securities with readily determinable fair values based on quoted prices observed in active markets; therefore, these investments are classified as level 1. During the second quarter of 2018, the Company reclassified $22 million of nonmarketable equity securities to marketable equity securities due to newly available, readily determinable fair value information observed in active markets. Liabilities Trading Liabilities and Derivative Instruments Trading liabilities are comprised primarily of derivative contracts, including IRLC s that satisfy the criteria to be treated as derivative financial instruments, as well as various contracts (primarily U.S. Treasury securities, corporate and other debt securities) that the Company uses in certain of its trading businesses. The Company's valuation methodologies for these derivative contracts and securities are consistent with those discussed within the corresponding sections herein under “ Trading Assets and Derivative Instruments and Investment Securities .” During the second quarter of 2009, in connection with its sale of Visa Class B shares , the Company entered into a derivative contract whereby the ultimate cash payments received or paid, if any, under the contract are based on the ultimate resolution of the Litigation involving Visa . The fair value of the derivative is estimated based on the Company’s expectations regarding the ultimate resolution of that Litigation. The significant unobservable inputs used in the fair value measurement of the derivative involve a high degree of judgment and subjectivity; accordingly, the derivative liability is classified as level 3. See Note 14 , "Guarantees," for a discussion of the valuation assumptions. Brokered Time Deposits The Company has elected to measure certain CD s that contain embedded derivatives at fair value. This fair value election better aligns the economics of the CD s with the Company’s risk management strategies. The Company evaluated, on an instrument by instrument basis, whether a new issuance would be measured at fair value. The Company has classified CD s measured at fair value as level 2 instruments due to the Company's ability to reasonably measure all significant inputs based on observable market variables. The Company employs a discounted cash flow approach based on observable market interest rates for the term of the CD and an estimate of the Bank's credit risk. For any embedded derivative features, the Company uses the same valuation methodologies as if the derivative were a standalone derivative, as discussed in the "Derivative Instruments" section above. Long-Term Debt The Company has elected to measure at fair value certain fixed rate issuances of public debt that are valued by obtaining price indicatio |
Contingencies
Contingencies | 9 Months Ended |
Sep. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingencies | NOTE 17 – CONTINGENCIES Litigation and Regulatory Matters In the ordinary course of business, the Company and its subsidiaries are parties to numerous civil claims and lawsuits and subject to regulatory examinations, investigations, and requests for information. Some of these matters involve claims for substantial amounts. The Company’s experience has shown that the damages alleged by plaintiffs or claimants are often overstated, based on unsubstantiated legal theories, unsupported by facts, and/or bear no relation to the ultimate award that a court might grant. Additionally, the outcome of litigation and regulatory matters and the timing of ultimate resolution are inherently difficult to predict. These factors make it difficult for the Company to provide a meaningful estimate of the range of reasonably possible outcomes of claims in the aggregate or by individual claim. However, on a case-by-case basis, reserves are established for those legal claims in which it is probable that a loss will be incurred and the amount of such loss can be reasonably estimated. The Company's financial statements at September 30, 2018 reflect the Company's current best estimate of probable losses associated with these matters, including costs to comply with various settlement agreements, where applicable. The actual costs of resolving these claims may be substantially higher or lower than the amounts reserved. For a limited number of legal matters in which the Company is involved, the Company is able to estimate a range of reasonably possible losses in excess of related reserves, if any. Management currently estimates these losses to range from $0 to approximately $160 million . This estimated range of reasonably possible losses represents the estimated possible losses over the life of such legal matters, which may span a currently indeterminable number of years, and is based on information available at September 30, 2018 . The matters underlying the estimated range will change from time to time, and actual results may vary significantly from this estimate. Those matters for which an estimate is not possible are not included within this estimated range; therefore, this estimated range does not represent the Company’s maximum loss exposure. Based on current knowledge, it is the opinion of management that liabilities arising from legal claims in excess of the amounts currently reserved, if any, will not have a material impact on the Company’s financial condition, results of operations, or cash flows. However, in light of the significant uncertainties involved in these matters and the large or indeterminate damages sought in some of these matters, an adverse outcome in one or more of these matters could be material to the Company’s financial condition, results of operations, or cash flows for any given reporting period. The following is a description of certain litigation and regulatory matters: Card Association Antitrust Litigation The Company is a defendant, along with Visa and Mastercard , as well as several other banks, in several antitrust lawsuits challenging their practices. For a discussion regarding the Company’s involvement in this litigation matter, see Note 14 , “Guarantees.” Bickerstaff v. SunTrust Bank This case was filed in the Fulton County State Court on July 12, 2010, and an amended complaint was filed on August 9, 2010. Plaintiff asserts that all overdraft fees charged to his account which related to debit card and ATM transactions are actually interest charges and therefore subject to the usury laws of Georgia. Plaintiff has brought claims for violations of civil and criminal usury laws, conversion, and money had and received, and purports to bring the action on behalf of all Georgia citizens who incurred such overdraft fees within the four years before the complaint was filed where the overdraft fee resulted in an interest rate being charged in excess of the usury rate. On April 8, 2013, the plaintiff filed a motion for class certification and that motion was denied but the ruling was later reversed and remanded by the Georgia Supreme Court. On October 6, 2017, the trial court granted plaintiff's motion for class certification and the Bank filed an appeal of the decision on November 3, 2017. Mutual Funds ERISA Class Action On March 11, 2011, the Company and certain officers, directors, and employees of the Company were named in a putative class action alleging that they breached their fiduciary duties under ERISA by offering certain STI Classic Mutual Funds as investment options in the Plan. The plaintiffs purport to represent all current and former Plan participants who held the STI Classic Mutual Funds in their Plan accounts from April 2002 through December 2010 and seek to recover alleged losses these Plan participants supposedly incurred as a result of their investment in the STI Classic Mutual Funds. This action is pending in the U.S. District Court for the Northern District of Georgia, Atlanta Division (the “District Court”). Subsequently, plaintiffs' counsel initiated a substantially similar lawsuit against the Company naming two new plaintiffs. On June 27, 2014, Brown, et al. v. SunTrust Banks, Inc., et al., another putative class action alleging breach of fiduciary duties associated with the inclusion of STI Classic Mutual Funds as investment options in the Plan, was filed in the U.S. District Court for the District of Columbia but then was transferred to the District Court. After various appeals, the cases were remanded to the District Court. On March 25, 2016, a consolidated amended complaint was filed, consolidating all of these pending actions into one case . The Company filed an answer to the consolidated amended complaint on June 6, 2016. Subsequent to the closing of fact discovery, plaintiffs filed their second amended consolidated complaint on December 19, 2017 which among other things named five new defendants. On January 2, 2018, defendants filed their answer to the second amended consolidated complaint. Defendants' motion for partial summary judgment was filed on January 12, 2018, and on January 16, 2018 the plaintiffs filed for motion for class certification. Defendants' motion for partial summary judgment was granted by the District Court on May 2, 2018, which held that all claims prior to March 11, 2005 have been dismissed as well as dismissing three individual defendants from action. On June 27, 2018, the District Court granted the plaintiffs' motion for class certification. An additional motion for partial summary judgment was filed by defendants on October 5, 2018. Intellectual Ventures II v. SunTrust Banks, Inc. and SunTrust Bank This action was filed in the U.S. District Court for the Northern District of Georgia on July 24, 2013. Plaintiff alleged that SunTrust violates five patents held by plaintiff in connection with SunTrust’s provision of online banking services and other systems and services. Plaintiff seeks damages for alleged patent infringement of an unspecified amount, as well as attorney’s fees and expenses. The matter was stayed on October 7, 2014 pending inter partes reviews of a number of the claims asserted against SunTrust. After completion of those reviews, plaintiff dismissed its claims regarding four of the five patents on August 1, 2017. United States Mortgage Servicing Settlement In the second quarter of 2014, STM and the U.S., through the DOJ , HUD , and Attorneys General for several states, reached a final settlement agreement related to the National Mortgage Servicing Settlement. The settlement agreement became effective on September 30, 2014 when the court entered the Consent Judgment. Pursuant to the settlements, STM made $50 million in cash payments, provided $500 million of consumer relief, and implemented certain mortgage servicing standards. In an August 10, 2017 report, the independent Office of Mortgage Settlement Oversight ("OMSO"), appointed to review and certify compliance with the provisions of the settlement, confirmed that STM fulfilled its consumer relief commitments of the settlement. STM 's mortgage servicing standard obligations concluded on March 31, 2018. On August 22, 2018, the OMSO issued its final compliance report confirming that STM completed its obligations under the settlement. LR Trust v. SunTrust Banks, Inc., et al. In November 2016, the Company and certain officers and directors were named as defendants in a shareholder derivative action alleging that defendants failed to take action related to activities at issue in the National Mortgage Servicing, HAMP , and FHA Originations settlements, and certain other legal matters or to ensure that the alleged activities in each were remedied and otherwise appropriately addressed. Plaintiff sought an award in favor of the Company for the amount of damages sustained by the Company, disgorgement of alleged benefits obtained by defendants, and enhancements to corporate governance and internal controls. On September 18, 2017, the district court dismissed this matter and on October 16, 2017, plaintiff filed an appeal. A settlement of the matter was reached in which the defendants agreed to pay $585,000 and the Company committed to certain non-monetary corporate governance activities through March 2021. Preliminary approval of the settlement was granted by the district court on September 18, 2018. Millennium Lender Claim Trust v. STRH and SunTrust Bank, et al. In August 2017, the Trustee of the Millennium Lender Claim Trust filed a suit in the New York State Court against STRH , SunTrust Bank, and other lenders of the $1.775 B Millennium Health LLC f/k/a Millennium Laboratories LLC (“Millennium”) syndicated loan. The Trustee alleges that the loan was actually a security and that defendants misrepresented or omitted to state material facts in the offering materials and communications provided concerning the legality of Millennium's sales, marketing, and billing practices and the known risks posed by a pending government investigation into the illegality of such practices. The Trustee brings claims for violation of the California Corporate Securities Law, the Massachusetts Uniform Securities Act, the Colorado Securities Act, and the Illinois Securities Law, as well as negligent misrepresentation and seeks rescission of sales of securities as well as unspecified rescissory damages, compensatory damages, punitive damages, interest, and attorneys' fees and costs. The defendants have removed the case to the U.S. District Court for the Southern District of New York and Trustee's motion to remand the case back to state court was denied. |
Business Segment Reporting
Business Segment Reporting | 9 Months Ended |
Sep. 30, 2018 | |
Segment Reporting [Abstract] | |
Business Segment Reporting | NOTE 18 - BUSINESS SEGMENT REPORTING The Company operates and measures business activity across two segments: Consumer and Wholesale , with functional activities included in Corporate Other . The Company's business segment structure is based on the manner in which financial information is evaluated by management as well as the products and services provided or the type of client served. In the second quarter of 2018, certain business banking clients within Commercial Banking were transferred from the Wholesale segment to the Consumer segment to create greater consistency in delivering tailored solutions to business banking clients through the alignment of client coverage and client service in branches. Prior period business segment results were revised to conform with this updated business segment structure. Additionally, the transfer resulted in a reallocation of goodwill from Wholesale to Consumer, as disclosed in Note 8 , "Goodwill and Other Intangible Assets." The following is a description of the segments and their primary businesses at September 30, 2018 . The Consumer segment is made up of four primary businesses: • Consumer Banking provides services to individual consumers, small business, and business banking clients through an extensive network of traditional and in-store branches, ATM s, online banking ( www.suntrust.com ), mobile banking, and by telephone (1-800-SUNTRUST). Financial products and services offered to consumers and small business clients include deposits and payments, loans, and various fee-based services. Consumer Banking also serves as an entry point for clients and provides services for other businesses. • Consumer Lending offers an array of lending products to individual consumers and small business clients via the Company's Consumer Banking and PWM businesses, through the internet ( www.suntrust.com and www.lightstream.com ), as well as through various national offices and partnerships. Products offered include home equity lines, personal credit lines and loans, direct auto, indirect auto, student lending, credit cards, and other lending products. • PWM provides a full array of wealth management products and professional services to individual consumers and institutional clients, including loans, deposits, brokerage, professional investment advisory, and trust services to clients seeking active management of their financial resources. Institutional clients are served by the Institutional Investment Solutions business. Discount/online and full-service brokerage products are offered to individual clients through STIS . Investment advisory products and services are offered to clients by STAS , an SEC registered investment advisor. PWM also includes GFO Advisory Services, LLC, which provides family office solutions to clients and their families to help them manage and sustain wealth across multiple generations, including family meeting facilitation, consolidated reporting, expense management, specialty asset management, and business transition advice, as well as other wealth management disciplines. • Mortgage Banking offers residential mortgage products nationally through its retail and correspondent channels, the internet ( www.suntrust.com ), and by telephone (1-800-SUNTRUST). These products are either sold in the secondary market, primarily with servicing rights retained, or held in the Company’s loan portfolio. Mortgage Banking also services loans for other investors, in addition to loans held in the Company’s loan portfolio. ◦ The Company successfully merged its STM and Bank legal entities in the third quarter of 2018. Subsequent to the merger, mortgage operations have continued under the Bank’s charter . This merger will simplify the Company's organizational structure and allow it to more fully serve the needs of clients. There were no material financial impacts associated with the merger, other than the tax impacts described in Note 12 , “Income Taxes.” The Wholesale segment is made up of three primary businesses and the Treasury & Payment Solutions product group: • CIB delivers comprehensive capital markets solutions, including advisory, capital raising, and financial risk management, with the goal of serving the needs of both public and private companies in the Wholesale segment and PWM business. Investment Banking and Corporate Banking teams within CIB serve clients across the nation, offering a full suite of traditional banking and investment banking products and services to companies with annual revenues typically greater than $150 million. Investment Banking serves select industry segments including consumer and retail, energy, technology, financial services, healthcare, industrials, and media and communications. Corporate Banking serves clients across diversified industry sectors based on size, complexity, and frequency of capital markets issuance. CIB also includes the Company's Asset Finance Group, which offers a full complement of asset-based financing solutions such as securitizations, asset-based lending, equipment financing, and structured real estate arrangements. • Commercial Banking offers an array of traditional banking products, including lending, cash management, and investment banking solutions via CIB , to commercial clients (generally clients with revenues between $5 million and $250 million), including not-for-profit organizations, governmental entities, healthcare and aging services, and auto dealer financing (floor plan inventory financing). Local teams deliver these solutions along with the Company's industry expertise to commercial clients to help them achieve smart growth. • Commercial Real Estate provides a range of credit and deposit services as well as fee-based product offerings to privately held real estate companies and institutional funds operating within the office, retail, multifamily, and industrial property sectors. Commercial Real Estate also provides multi-family agency lending and servicing, advisory, and commercial mortgage brokerage services via its Agency Lending division. Additionally, Commercial Real Estate offers tailored financing and equity investment solutions for community development and affordable housing projects through STCC , with particular expertise in Low Income Housing Tax Credits and New Market Tax Credits. The Institutional Property Group business targets relationships with REIT s, pension fund advisors, private funds, homebuilders, and insurance companies and the Regional business focuses on private real estate owners and developers through a regional delivery structure. The Investor Services Group offers loan administration, special servicing, valuation, and advisory services to third party clients. • Treasury & Payment Solutions provides business clients in the Wholesale segment with services required to manage their payments and receipts, combined with the ability to manage and optimize their deposits across all aspects of their business. Treasury & Payment Solutions operates all electronic and paper payment types, including card, wire transfer, ACH , check, and cash. It also provides clients the means to manage their accounts electronically online, both domestically and internationally. Corporate Other includes management of the Company’s investment securities portfolio, long-term debt, end user derivative instruments, short-term liquidity and funding activities, balance sheet risk management, and most real estate assets, as well as the Company's functional activities such as marketing, finance, ER , legal, enterprise information services, and executive management, among others. Additionally, for all periods prior to January 1, 2018, the results of PAC were reported in the Wholesale segment and were reclassified to Corporate Other for enhanced comparability of the Wholesale segment results excluding PAC . See Note 2, "Acquisitions/Dispositions," in the Company's 2017 Annual Report on Form 10-K for additional information related to the sale of PAC in December 2017. Because business segment results are presented based on management accounting practices, the transition to the consolidated results prepared under U.S. GAAP creates certain differences, which are reflected in reconciling items. Business segment reporting conventions are described below. • Net interest income-FTE – is reconciled from Net interest income and is grossed-up on an FTE basis to make income from tax-exempt assets comparable to other taxable products. Segment results reflect matched maturity funds transfer pricing, which ascribes credits or charges based on the economic value or cost created by assets and liabilities of each segment. Differences between these credits and charges are captured as reconciling items. • Provision for credit losses – represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to each segment's quarterly change in the ALLL and unfunded commitments reserve balances. • Noninterest income – includes federal and state tax credits that are grossed-up on a pre-tax equivalent basis, related primarily to certain community development investments. • Provision for income taxes-FTE – is calculated using a blended income tax rate for each segment and includes reversals of the tax adjustments and credits described above. The difference between the calculated provision for income taxes at the segment level and the consolidated provision for income taxes is reported as reconciling items. The segment’s financial performance is comprised of direct financial results and allocations for various corporate functions that provide management an enhanced view of the segment’s financial performance. Internal allocations include the following: • Operational costs – expenses are charged to segments based on an activity-based costing process, which also allocates residual expenses to the segments. Generally, recoveries of these costs are reported in Corporate Other. • Support and overhead costs – expenses not directly attributable to a specific segment are allocated based on various drivers (number of equivalent employees, number of PCs/laptops, net revenue, etc.). Recoveries for these allocations are reported in Corporate Other. The application and development of management reporting methodologies is an active process and undergoes periodic enhancements. The implementation of these enhancements to the internal management reporting methodology may materially affect the results disclosed for each segment, with no impact on consolidated results. If significant changes to management reporting methodologies take place, the impact of these changes is quantified and prior period information is revised, when practicable. Three Months Ended September 30, 2018 (Dollars in millions) Consumer Wholesale Corporate Other Reconciling Consolidated Balance Sheets: Average LHFI $75,414 $70,485 $96 $— $145,995 Average consumer and commercial deposits 111,930 47,773 212 (567 ) 159,348 Average total assets 86,112 84,766 35,612 905 207,395 Average total liabilities 112,879 54,284 16,481 (524 ) 183,120 Average total equity — — — 24,275 24,275 Statements of Income: Net interest income $1,079 $550 ($49 ) ($68 ) $1,512 FTE adjustment — 22 1 (1 ) 22 Net interest income-FTE 1 1,079 572 (48 ) (69 ) 1,534 Provision for credit losses 2 36 25 — — 61 Net interest income after provision for credit losses-FTE 1,043 547 (48 ) (69 ) 1,473 Total noninterest income 445 373 10 (46 ) 782 Total noninterest expense 994 433 (38 ) (5 ) 1,384 Income before provision for income taxes-FTE 494 487 — (110 ) 871 Provision for income taxes-FTE 3 113 115 (52 ) (59 ) 117 Net income including income attributable to noncontrolling interest 381 372 52 (51 ) 754 Net income attributable to noncontrolling interest — — 2 — 2 Net income $381 $372 $50 ($51 ) $752 1 Presented on a matched maturity funds transfer price basis for the segments. 2 Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances. 3 Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals. Three Months Ended September 30, 2017 1, 2 (Dollars in millions) Consumer Wholesale Corporate Other Reconciling Consolidated Balance Sheets: Average LHFI $74,742 $68,568 $1,399 ($3 ) $144,706 Average consumer and commercial deposits 109,774 49,515 189 (59 ) 159,419 Average total assets 84,345 82,573 36,286 2,534 205,738 Average total liabilities 110,713 55,054 15,406 (8 ) 181,165 Average total equity — — — 24,573 24,573 Statements of Income: Net interest income $999 $511 ($5 ) ($75 ) $1,430 FTE adjustment — 36 1 — 37 Net interest income-FTE 3 999 547 (4 ) (75 ) 1,467 Provision/(benefit) for credit losses 4 140 (19 ) — (1 ) 120 Net interest income after provision/(benefit) for credit losses-FTE 859 566 (4 ) (74 ) 1,347 Total noninterest income 482 397 19 (52 ) 846 Total noninterest expense 927 421 48 (5 ) 1,391 Income before provision for income taxes-FTE 414 542 (33 ) (121 ) 802 Provision for income taxes-FTE 5 150 201 (18 ) (71 ) 262 Net income including income attributable to noncontrolling interest 264 341 (15 ) (50 ) 540 Net income attributable to noncontrolling interest — — 2 — 2 Net income $264 $341 ($17 ) ($50 ) $538 1 During the second quarter of 2018, certain of the Company's business banking clients were transferred from the Wholesale business segment to the Consumer business segment. For all periods prior to the second quarter of 2018, the corresponding financial results have been transferred to the Consumer business segment for comparability purposes. 2 During the fourth quarter of 2017, the Company sold PAC , the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC 's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC. 3 Presented on a matched maturity funds transfer price basis for the segments. 4 Provision/(benefit) for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision/(benefit) attributable to quarterly changes in the ALLL and unfunded commitment reserve balances. 5 Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals. Nine Months Ended September 30, 2018 (Dollars in millions) Consumer Wholesale Corporate Other Reconciling Consolidated Balance Sheets: Average LHFI $75,122 $69,155 $93 ($2 ) $144,368 Average consumer and commercial deposits 111,025 48,259 205 (330 ) 159,159 Average total assets 85,124 83,001 35,563 1,682 205,370 Average total liabilities 111,928 54,383 15,038 (303 ) 181,046 Average total equity — — — 24,324 24,324 Statements of Income: Net interest income $3,144 $1,605 ($120 ) ($189 ) $4,440 FTE adjustment — 63 2 — 65 Net interest income-FTE 1 3,144 1,668 (118 ) (189 ) 4,505 Provision for credit losses 2 101 19 — 1 121 Net interest income after provision for credit losses-FTE 3,043 1,649 (118 ) (190 ) 4,384 Total noninterest income 1,349 1,124 50 (115 ) 2,408 Total noninterest expense 2,995 1,307 (95 ) (16 ) 4,191 Income before provision for income taxes-FTE 1,397 1,466 27 (289 ) 2,601 Provision for income taxes-FTE 3 316 346 (29 ) (156 ) 477 Net income including income attributable to noncontrolling interest 1,081 1,120 56 (133 ) 2,124 Less: Net income attributable to noncontrolling interest — — 7 — 7 Net income $1,081 $1,120 $49 ($133 ) $2,117 1 Presented on a matched maturity funds transfer price basis for the segments. 2 Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances. 3 Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals. Nine Months Ended September 30, 2017 1, 2 (Dollars in millions) Consumer Wholesale Corporate Other Reconciling Consolidated Balance Sheets: Average LHFI $73,613 $69,303 $1,362 ($2 ) $144,276 Average consumer and commercial deposits 109,301 49,724 149 (29 ) 159,145 Average total assets 83,310 82,916 35,903 2,704 204,833 Average total liabilities 110,264 55,322 15,110 6 180,702 Average total equity — — — 24,131 24,131 Statements of Income: Net interest income $2,915 $1,490 $29 ($235 ) $4,199 FTE adjustment — 105 2 — 107 Net interest income-FTE 3 2,915 1,595 31 (235 ) 4,306 Provision for credit losses 4 310 19 — 1 330 Net interest income after provision for credit losses-FTE 2,605 1,576 31 (236 ) 3,976 Total noninterest income 1,427 1,169 59 (135 ) 2,520 Total noninterest expense 2,939 1,284 34 (14 ) 4,243 Income before provision for income taxes-FTE 1,093 1,461 56 (357 ) 2,253 Provision for income taxes-FTE 5 395 544 (11 ) (215 ) 713 Net income including income attributable to noncontrolling interest 698 917 67 (142 ) 1,540 Less: Net income attributable to noncontrolling interest — — 7 — 7 Net income $698 $917 $60 ($142 ) $1,533 1 During the second quarter of 2018, certain of the Company's business banking clients were transferred from the Wholesale business segment to the Consumer business segment. For all periods prior to the second quarter of 2018, the corresponding financial results have been transferred to the Consumer business segment for comparability purposes. 2 During the fourth quarter of 2017, the Company sold PAC , the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC 's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC. 3 Presented on a matched maturity funds transfer price basis for the segments. 4 Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances. 5 Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2018 | |
Accumulated Other Comprehensive Income | NOTE 19 - ACCUMULATED OTHER COMPREHENSIVE LOSS Changes in the components of AOCI, net of tax, are presented in the following table: (Dollars in millions) Securities AFS Derivative Instruments Brokered Time Deposits Long-Term Debt Employee Benefit Plans Total Three Months Ended September 30, 2018 Balance, beginning of period ($519 ) ($459 ) ($1 ) ($2 ) ($698 ) ($1,679 ) Net unrealized losses arising during the period (178 ) (37 ) — — — (215 ) Amounts reclassified to net income — 17 — — 3 20 Other comprehensive (loss)/income, net of tax (178 ) (20 ) — — 3 (195 ) Balance, end of period ($697 ) ($479 ) ($1 ) ($2 ) ($695 ) ($1,874 ) Three Months Ended September 30, 2017 Balance, beginning of period ($5 ) ($168 ) ($1 ) ($7 ) ($596 ) ($777 ) Net unrealized gains arising during the period 40 6 — 1 — 47 Amounts reclassified to net income — (8 ) — — 3 (5 ) Other comprehensive income/(loss), net of tax 40 (2 ) — 1 3 42 Balance, end of period $35 ($170 ) ($1 ) ($6 ) ($593 ) ($735 ) Nine Months Ended September 30, 2018 Balance, beginning of period ($1 ) ($244 ) ($1 ) ($4 ) ($570 ) ($820 ) Cumulative effect adjustment related to ASU adoption 1 30 (56 ) — (1 ) (127 ) (154 ) Net unrealized (losses)/gains arising during the period (725 ) (209 ) — 3 (7 ) (938 ) Amounts reclassified to net income (1 ) 30 — — 9 38 Other comprehensive (loss)/income, net of tax (726 ) (179 ) — 3 2 (900 ) Balance, end of period ($697 ) ($479 ) ($1 ) ($2 ) ($695 ) ($1,874 ) Nine Months Ended September 30, 2017 Balance, beginning of period ($62 ) ($157 ) ($1 ) ($7 ) ($594 ) ($821 ) Net unrealized gains/(losses) arising during the period 98 38 — 1 (9 ) 128 Amounts reclassified to net income (1 ) (51 ) — — 10 (42 ) Other comprehensive income/(loss), net of tax 97 (13 ) — 1 1 86 Balance, end of period $35 ($170 ) ($1 ) ($6 ) ($593 ) ($735 ) 1 Related to the Company's adoption of ASU 2018-02 on January 1, 2018. See Note 1 , "Significant Accounting Policies," for additional information. Reclassifications from AOCI to Net income, and the related tax effects, are presented in the following table: (Dollars in millions) Three Months Ended September 30 Nine Months Ended September 30 Impacted Line Item in the Consolidated Statements of Income Details About AOCI Components 2018 2017 2018 2017 Securities AFS: Net realized gains on securities AFS $— $— ($1 ) ($1 ) Net securities gains Tax effect — — — — Provision for income taxes — — (1 ) (1 ) Derivative Instruments: Net realized losses/(gains) on cash flow hedges 22 (13 ) 39 (81 ) Interest and fees on loans held for investment Tax effect (5 ) 5 (9 ) 30 Provision for income taxes 17 (8 ) 30 (51 ) Employee Benefit Plans: Amortization of prior service credit (2 ) (1 ) (5 ) (4 ) Employee benefits Amortization of actuarial loss 6 6 17 18 Employee benefits 4 5 12 14 Tax effect (1 ) (2 ) (3 ) (4 ) Provision for income taxes 3 3 9 10 Total reclassifications from AOCI to net income $20 ($5 ) $38 ($42 ) |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Accounting Policies Recently Adopted and Pending Accounting Pronouncements | Accounting Pronouncements The following table summarizes ASU s issued by the FASB that were adopted during the current year or not yet adopted as of September 30, 2018 , that could have a material effect on the Company's financial statements: Standard Description Required Date of Adoption Effect on the Financial Statements or Other Significant Matters Standards Adopted in 2018 ASU 2014-09, Revenue from Contracts with Customers (ASC Topic 606) and subsequent related ASUs These ASUs comprise ASC Topic 606, Revenue from Contracts with Customers , which supersede the revenue recognition requirements in ASC Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Industry Topics of the ASC. The core principle of these ASUs is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. January 1, 2018 The Company adopted these ASUs on a modified retrospective basis beginning January 1, 2018. Upon adoption, the Company recognized an immaterial cumulative effect adjustment that resulted in a decrease to the beginning balance of retained earnings as of January 1, 2018. Furthermore, the Company prospectively changed the presentation of certain types of revenue and expenses, such as underwriting revenue within investment banking income which is shown on a gross basis, and certain cash promotions and card network expenses, which were reclassified from noninterest expense to service charges on deposit accounts, card fees, and other charges and fees. The net quantitative impact of these presentation changes decreased both revenue and expenses by $9 million and $16 million for the three and nine months ended September 30, 2018, respectively; however, these presentation changes did not have an impact on net income. Prior period balances have not been restated to reflect these presentation changes. See Note 2, “Revenue Recognition,” for disclosures relating to ASC Topic 606. Standard Description Required Date of Adoption Effect on the Financial Statements or Other Significant Matters Standards Adopted in 2018 (continued) ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities; and ASU 2018-03, Technical Corrections and Improvements to Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities These ASUs amend ASC Topic 825, Financial Instruments-Overall , and address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The main provisions require most investments in equity securities to be measured at fair value through net income, unless they qualify for a measurement alternative, and require fair value changes arising from changes in instrument-specific credit risk for financial liabilities that are measured under the fair value option to be recognized in other comprehensive income. With the exception of disclosure requirements and the application of the measurement alternative for certain equity investments that was adopted prospectively, these ASUs must be adopted on a modified retrospective basis. January 1, 2018 Early adoption was permitted for the provision related to changes in instrument-specific credit risk for financial liabilities under the FVO. The Company early adopted the provision related to changes in instrument-specific credit risk beginning January 1, 2016, which resulted in an immaterial cumulative effect adjustment from retained earnings to AOCI. See Note 1, “Significant Accounting Policies,” to the Company's 2016 Annual Report on Form 10-K for additional information regarding the early adoption of this provision. Additionally, the Company adopted the remaining provisions of these ASUs beginning January 1, 2018, which resulted in an immaterial cumulative effect adjustment to the beginning balance of retained earnings. In connection with the adoption of these ASUs, an immaterial amount of equity securities previously classified as securities AFS were reclassified to other assets, as the AFS classification is no longer permitted for equity securities under these ASUs. Subsequent to adoption of these ASUs, the Company recognized net gains on certain of its equity investments during the three and nine months ended September 30, 2018. For additional information relating to these net gains, see Note 9, “Other Assets,” and Note 16, “Fair Value Election and Measurement.” The remaining provisions and disclosure requirements of these ASUs did not have a material impact on the Company's Consolidated Financial Statements or related disclosures upon adoption. ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments This ASU amends ASC Topic 230, Statement of Cash Flows , to clarify the classification of certain cash receipts and payments within the Company's Consolidated Statements of Cash Flows. These items include: cash payments for debt prepayment or debt extinguishment costs; cash outflows for the settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned and bank-owned life insurance policies; distributions received from equity method investees; and beneficial interests acquired in securitization transactions. The ASU also clarifies that when no specific U.S. GAAP guidance exists and the source of the cash flows are not separately identifiable, the predominant source of cash flow should be used to determine the classification for the item. The ASU must be adopted on a retrospective basis. January 1, 2018 The Company adopted this ASU on a retrospective basis effective January 1, 2018 and changed the presentation of certain cash payments and receipts within its Consolidated Statements of Cash Flows. Specifically, the Company changed the presentation of proceeds from the settlement of bank-owned life insurance policies from operating activities to investing activities. The Company also changed the presentation of cash payments for bank-owned life insurance policy premiums from operating activities to investing activities. Lastly, for contingent consideration payments made more than three months after a business combination, the Company changed the presentation for the portion of the cash payment up to the acquisition date fair value of the contingent consideration as a financing activity and any amount paid in excess of the acquisition date fair value as an operating activity. For the nine months ended September 30, 2018 and 2017, the Company reclassified $201 million and $127 million, respectively, of cash payments for bank-owned life insurance policy premiums and an immaterial amount of proceeds from the settlement of bank-owned life insurance policies from operating activities to investing activities on the Company’s Consolidated Statements of Cash Flows. The remaining presentation change described above was immaterial for both the nine months ended September 30, 2018 and 2017. ASU 2017-09, Stock Compensation (Topic 718): Scope of Modification Accounting This ASU amends ASC Topic 718, Stock Compensation , to provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting per ASC Topic 718, Stock Compensation . The amendments clarify that modification accounting only applies to an entity if the fair value, vesting conditions, or classification of the award changes as a result of changes in the terms or conditions of a share-based payment award. The ASU should be applied prospectively to awards modified on or after the adoption date. January 1, 2018 The Company adopted this ASU on January 1, 2018 and upon adoption, the ASU did not have a material impact on the Company's Consolidated Financial Statements or related disclosures. Standard Description Required Date of Adoption Effect on the Financial Statements or Other Significant Matters Standards Adopted in 2018 (continued) ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities This ASU amends ASC Topic 815, Derivatives and Hedging, to simplify the requirements for hedge accounting. Key amendments include: eliminating the requirement to separately measure and report hedge ineffectiveness, requiring changes in the value of the hedging instrument to be presented in the same income statement line as the earnings effect of the hedged item, and the ability to measure the hedged item based on the benchmark interest rate component of the total contractual coupon for fair value hedges. These changes expand the types of risk management strategies eligible for hedge accounting. The ASU also permits entities to qualitatively assert that a hedging relationship was and continues to be highly effective. New incremental disclosures are required for reporting periods subsequent to the date of adoption. All transition requirements and elections should be applied to hedging relationships existing on the date of adoption using a modified retrospective approach. January 1, 2019 Early adoption is permitted. The Company early adopted this ASU beginning January 1, 2018 and modified its measurement methodology for certain hedged items designated under fair value hedge relationships. The Company elected to perform its subsequent assessments of hedge effectiveness using a qualitative, rather than a quantitative, approach. The adoption resulted in an immaterial cumulative effect adjustment to the opening balance of retained earnings and a basis adjustment to the related hedged items arising from measuring the hedged items based on the benchmark interest rate component of the total contractual coupon of the fair value hedges. For additional information on the Company’s derivative and hedging activities, see Note 15, “Derivative Financial Instruments.” ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from AOCI This ASU amends ASC Topic 220, Income Statement - Reporting Comprehensive Income, to allow for a reclassification from AOCI to Retained earnings for the tax effects stranded in AOCI as a result of the remeasurement of DTAs and DTLs for the change in the federal corporate tax rate pursuant to the 2017 Tax Act, which was recognized through the income tax provision in 2017. The Company may apply this ASU at the beginning of the period of adoption or retrospectively to all periods in which the 2017 Tax Act is enacted. January 1, 2019 The Company early adopted this ASU beginning January 1, 2018. Upon adoption of this ASU, the Company elected to reclassify $182 million of stranded tax effects relating to securities AFS, derivative instruments, credit risk on long-term debt, and employee benefit plans from AOCI to retained earnings. This amount was offset by $28 million of stranded tax effects relating to equity securities previously classified as securities AFS, resulting in a net $154 million increase to retained earnings. ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement This ASU amends ASC Topic 820, Fair Value Measurement , to add new disclosure requirements, as well as to modify and remove certain disclosure requirements to improve the effectiveness of disclosures in the notes to financial statements. In the initial period of adoption, the Company will be required to disclose the average of significant unobservable inputs used to develop level 3 fair value measurements and to disclose information about the measurement uncertainty around these measurements on a prospective basis. All other amendments of this ASU must be applied retrospectively to all periods presented upon adoption. January 1, 2020 Early adoption is permitted. The Company early adopted this ASU beginning September 30, 2018 and modified its fair value disclosures accordingly. The adoption of this ASU did not have an impact on the Company's Consolidated Financial Statements. See Note 16, “Fair Value Election and Measurement,” for the Company's fair value disclosures. Standard Description Required Date of Adoption Effect on the Financial Statements or Other Significant Matters Standards Not Yet Adopted ASU 2016-02, Leases (ASC Topic 842) and subsequent related ASUs This ASU creates ASC Topic 842, Leases , which supersedes ASC Topic 840, Leases . ASC Topic 842 requires lessees to recognize right-of-use assets and associated liabilities that arise from leases, with the exception of short-term leases. The ASU does not make significant changes to lessor accounting; however, there were certain improvements made to align lessor accounting with the lessee accounting model and ASC Topic 606, Revenue from Contracts with Customers . There are several new qualitative and quantitative disclosures required. Upon transition, lessees and lessors have the option to: - Recognize and measure leases at the beginning of the earliest period presented using a modified retrospective transition approach, or - Apply a modified retrospective transition approach as of the date of adoption. January 1, 2019 Early adoption is permitted. The Company has formed a cross-functional team to oversee the implementation of this ASU. The Company's implementation efforts are ongoing, including the review of its lease portfolios and related lease accounting policies, the review of its service contracts for embedded leases, and the deployment of a new lease software solution. Additionally, in conjunction with this implementation, the Company is reviewing business processes and evaluating potential changes to its control environment. The Company will adopt this ASU on January 1, 2019, which will result in an increase in right-of-use assets and associated lease liabilities, arising from operating leases in which the Company is the lessee, on its Consolidated Balance Sheets. The amount of the right-of-use assets and associated lease liabilities recorded upon adoption will be based primarily on the present value of unpaid future minimum lease payments, the amount of which will depend on the population of leases in effect at the date of adoption. At September 30, 2018, the Company’s estimate of right-of-use assets and lease liabilities that would be recorded on its Consolidated Balance Sheets upon adoption was between $1.0 billion and $1.5 billion. The Company expects to recognize a cumulative effect adjustment upon adoption to increase the beginning balance of retained earnings as of January 1, 2019 for remaining deferred gains on sale-leaseback transactions which occurred prior to the date of adoption. The Company had approximately $44 million of deferred gains on sale-leaseback transactions as of September 30, 2018. The Company does not expect this ASU to have a material impact on the timing of expense recognition in its Consolidated Statements of Income. ASU 2016-13, Measurement of Credit Losses on Financial Instruments This ASU adds ASC Topic 326, Financial Instruments - Credit Losses , to replace the incurred loss impairment methodology with a current expected credit loss methodology for financial instruments measured at amortized cost and other commitments to extend credit. For this purpose, expected credit losses reflect losses over the remaining contractual life of an asset, considering the effect of voluntary prepayments and considering available information about the collectability of cash flows, including information about past events, current conditions, and reasonable and supportable forecasts. The resulting allowance for credit losses is deducted from the amortized cost basis of the financial assets to reflect the net amount expected to be collected on the financial assets. Additional quantitative and qualitative disclosures are required upon adoption. The change to the allowance for credit losses at the time of the adoption will be made with a cumulative effect adjustment to Retained earnings. January 1, 2020 The Company has formed a cross-functional team to oversee the implementation of this ASU. A detailed implementation plan has been developed and substantial progress has been made on the identification and staging of data, development and validation of models, refinement of economic forecasting processes, and documentation of accounting policy decisions. Additionally, a new credit loss platform is being implemented to host data and run models in a controlled, automated environment. In conjunction with this implementation, the Company is reviewing business processes and evaluating potential changes to the control environment. ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment This ASU amends ASC Topic 350, Intangibles - Goodwill and Other , to simplify the subsequent measurement of goodwill, by eliminating Step 2 from the goodwill impairment test. The amendments require an entity to perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. This ASU requires an entity to recognize an impairment charge for the amount by which a reporting unit's carrying amount exceeds its fair value, with the loss limited to the total amount of goodwill allocated to that reporting unit. The ASU must be applied on a prospective basis. January 1, 2020 Early adoption is permitted. Based on the Company's most recent annual goodwill impairment test performed as of October 1, 2017, there were no reporting units for which the carrying amount of the reporting unit exceeded its fair value; therefore, this ASU would not currently have an impact on the Company's Consolidated Financial Statements or related disclosures. However, if upon the adoption date, which is expected to occur on January 1, 2020, the carrying amount of a reporting unit exceeds its fair value, the Company would be required to recognize an impairment charge for the amount that the carrying value exceeds the fair value. Standard Description Required Date of Adoption Effect on the Financial Statements or Other Significant Matters Standards Not Yet Adopted (continued) ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans This ASU amends ASC Subtopic 715-20, Compensation - Retirement Benefits - Defined Benefit Plans - General , to add new disclosure requirements, as well as to remove certain disclosure requirements to improve the effectiveness of disclosures in the notes to financial statements. The ASU must be adopted on a retrospective basis. December 31, 2020 Early adoption is permitted. The Company is in the process of evaluating this ASU and does not expect this ASU to have a material impact on its Consolidated Financial Statements or related disclosures. ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract This ASU amends ASC Subtopic 350-40, Intangibles - Goodwill and Other - Internal-Use Software , to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The Company may apply this ASU either retrospectively, or prospectively to all implementation costs incurred after the date of adoption. January 1, 2020 Early adoption is permitted. The Company is in the process of evaluating this ASU. The Company’s current accounting policy for capitalizing implementation costs incurred in a hosting arrangement generally aligns with the requirements of this ASU. Therefore, the Company's adoption of this ASU is not expected to have a material impact on the Company’s Consolidated Financial Statements or related disclosures. |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue [Table Text Block] | Nine Months Ended September 30, 2018 1 (Dollars in millions) Consumer 2 Wholesale 2 Out of Scope 2, 3 Total Noninterest income Service charges on deposit accounts $330 $103 $— $433 Other charges and fees 4 85 8 171 264 Card fees 160 78 3 241 Investment banking income 4 — 287 166 453 Trading income — — 137 137 Trust and investment management income 228 — 2 230 Retail investment services 216 2 1 219 Mortgage servicing related income — — 138 138 Mortgage production related income — — 118 118 Commercial real estate related income — — 66 66 Net securities gains — — 1 1 Other noninterest income 17 — 91 108 Total noninterest income $1,036 $478 $894 $2,408 1 Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers , except for out of scope amounts. 2 Consumer total noninterest income and Wholesale total noninterest income exclude $313 million and $646 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 18 , "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($65) million of Corporate Other noninterest income that is not subject to ASC Topic 606. 3 The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income. 4 Beginning July 1, 2018, the Company began presenting bridge commitment fee income related to capital market transactions in Investment banking income on the Consolidated Statements of Income. For periods prior to July 1, 2018, this income was previously presented in Other charges and fees and has been reclassified to Investment banking income for comparability. Nine Months Ended September 30, 2017 1 (Dollars in millions) Consumer 2 Wholesale 2 Out of Scope 2, 3 Total Noninterest income Service charges on deposit accounts $344 $109 $— $453 Other charges and fees 4 93 9 168 270 Card fees 172 81 2 255 Investment banking income 4 — 309 192 501 Trading income — — 148 148 Trust and investment management income 227 — 2 229 Retail investment services 206 1 1 208 Mortgage servicing related income — — 148 148 Mortgage production related income — — 170 170 Commercial real estate related income — — 61 61 Net securities gains — — 1 1 Other noninterest income 20 — 56 76 Total noninterest income $1,062 $509 $949 $2,520 1 Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition , and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers . 2 Consumer total noninterest income and Wholesale total noninterest income exclude $365 million and $660 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 18 , "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($76) million of Corporate Other noninterest income that is not subject to ASC Topic 606. 3 The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income. The following table reflects the Company’s noninterest income disaggregated by the amount of revenue that is in scope and out of scope of ASC Topic 606. (Dollars in millions) Three Months Ended September 30 Nine Months Ended September 30 Noninterest income 2018 2017 2018 2017 Revenue in scope of ASC Topic 606 $508 $530 $1,514 $1,571 Revenue out of scope of ASC Topic 606 274 316 894 949 Total noninterest income $782 $846 $2,408 $2,520 The following tables further disaggregate the Company’s noninterest income by financial statement line item, business segment, and by the amount of each revenue stream that is in scope or out of scope of ASC Topic 606. The commentary following these tables describes the nature, amount, and timing of the related revenue streams. Three Months Ended September 30, 2018 1 (Dollars in millions) Consumer 2 Wholesale 2 Out of Scope 2, 3 Total Noninterest income Service charges on deposit accounts $111 $33 $— $144 Other charges and fees 4 28 3 58 89 Card fees 49 26 — 75 Investment banking income 4 — 101 49 150 Trading income — — 42 42 Trust and investment management income 79 — 1 80 Retail investment services 73 — 1 74 Mortgage servicing related income — — 43 43 Mortgage production related income — — 40 40 Commercial real estate related income — — 24 24 Net securities gains — — — — Other noninterest income 5 — 16 21 Total noninterest income $345 $163 $274 $782 1 Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers , except for out of scope amounts. 2 Consumer total noninterest income and Wholesale total noninterest income exclude $100 million and $210 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 18 , "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($36) million of Corporate Other noninterest income that is not subject to ASC Topic 606. 3 The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income. 4 Beginning July 1, 2018, the Company began presenting bridge commitment fee income related to capital market transactions in Investment banking income on the Consolidated Statements of Income. For periods prior to July 1, 2018, this income was previously presented in Other charges and fees and has been reclassified to Investment banking income for comparability. Three Months Ended September 30, 2017 1 (Dollars in millions) Consumer 2 Wholesale 2 Out of Scope 2, 3 Total Noninterest income Service charges on deposit accounts $119 $35 $— $154 Other charges and fees 4 29 3 57 89 Card fees 58 27 1 86 Investment banking income 4 — 106 63 169 Trading income — — 51 51 Trust and investment management income 78 — 1 79 Retail investment services 69 — — 69 Mortgage servicing related income — — 46 46 Mortgage production related income — — 61 61 Commercial real estate related income — — 17 17 Net securities gains — — — — Other noninterest income 6 — 19 25 Total noninterest income $359 $171 $316 $846 1 Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition , and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers . 2 Consumer total noninterest income and Wholesale total noninterest income exclude $123 million and $226 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 18 , "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($33) million of Corporate Other noninterest income that is not subject to ASC Topic 606. 3 The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income. (Dollars in millions) Three Months Ended September 30 Nine Months Ended September 30 Noninterest income 2018 2017 2018 2017 Revenue in scope of ASC Topic 606 $508 $530 $1,514 $1,571 Revenue out of scope of ASC Topic 606 274 316 894 949 Total noninterest income $782 $846 $2,408 $2,520 |
Federal Funds Sold and Securi_2
Federal Funds Sold and Securities Financing Activities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Securities Purchased under Agreements to Resell [Abstract] | |
Schedule of Resale Agreements [Table Text Block] | Fed Funds sold and securities borrowed or purchased under agreements to resell were as follows: (Dollars in millions) September 30, 2018 December 31, 2017 Fed funds sold $46 $65 Securities borrowed 429 298 Securities purchased under agreements to resell 899 1,175 Total Fed funds sold and securities borrowed or purchased under agreements to resell $1,374 $1,538 |
Securities sold under agreements to repurchase remaining contractual maturity [Table Text Block] | Securities sold under agreements to repurchase are accounted for as secured borrowings. The following table presents the Company’s related activity, by collateral type and remaining contractual maturity: September 30, 2018 December 31, 2017 (Dollars in millions) Overnight and Continuous Up to 30 days 30-90 days Total Overnight and Continuous Up to 30 days 30-90 days Total U.S. Treasury securities $119 $23 $— $142 $95 $— $— $95 Federal agency securities 64 43 — 107 101 15 — 116 MBS - agency 772 148 — 920 694 135 — 829 CP 19 — — 19 19 — — 19 Corporate and other debt securities 356 146 40 542 316 88 40 444 Total securities sold under agreements to repurchase $1,330 $360 $40 $1,730 $1,225 $238 $40 $1,503 |
Netting of Financial Instruments - Repurchase Agreements [Table Text Block] | The following table presents the Company's securities borrowed or purchased under agreements to resell and securities sold under agreements to repurchase that are subject to MRA s. Generally, MRA s require collateral to exceed the asset or liability recognized on the balance sheet. Transactions subject to these agreements are treated as collateralized financings, and those with a single counterparty are permitted to be presented net on the Company's Consolidated Balance Sheets, provided certain criteria are met that permit balance sheet netting. At September 30, 2018 and December 31, 2017 , there were no such transactions subject to legally enforceable MRA s that were eligible for balance sheet netting. The following table includes the amount of collateral pledged or received related to exposures subject to enforceable MRA s. While these agreements are typically over-collateralized, the amount of collateral presented in this table is limited to the amount of the related recognized asset or liability for each counterparty. (Dollars in millions) Gross Amount Amount Offset Net Amount Presented in Consolidated Balance Sheets Held/Pledged Financial Instruments Net Amount September 30, 2018 Financial assets: Securities borrowed or purchased under agreements to resell $1,328 $— $1,328 1 $1,309 $19 Financial liabilities: Securities sold under agreements to repurchase 1,730 — 1,730 1,730 — December 31, 2017 Financial assets: Securities borrowed or purchased under agreements to resell $1,473 $— $1,473 1 $1,462 $11 Financial liabilities: Securities sold under agreements to repurchase 1,503 — 1,503 1,503 — 1 Excludes $46 million and $65 million of Fed Funds sold, which are not subject to a master netting agreement at September 30, 2018 and December 31, 2017 |
Trading Assets and Liabilitie_2
Trading Assets and Liabilities and Derivatives Trading Assets and Liabilities and Derivatives (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block] | The fair values of the components of trading assets and liabilities and derivative instruments are presented in the following table: (Dollars in millions) September 30, 2018 December 31, 2017 Trading Assets and Derivative Instruments: U.S. Treasury securities $247 $157 Federal agency securities 507 395 U.S. states and political subdivisions 91 61 MBS - agency 743 700 Corporate and other debt securities 820 655 CP 408 118 Equity securities 67 56 Derivative instruments 1 622 802 Trading loans 2 2,171 2,149 Total trading assets and derivative instruments $5,676 $5,093 Trading Liabilities and Derivative Instruments: U.S. Treasury securities $742 $577 Corporate and other debt securities 411 289 Equity securities 12 9 Derivative instruments 1 698 408 Total trading liabilities and derivative instruments $1,863 $1,283 1 Amounts include the impact of offsetting cash collateral received from and paid to the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. 2 Includes loans related to TRS . |
Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block] | Pledged trading assets are presented in the following table: (Dollars in millions) September 30, 2018 December 31, 2017 Pledged trading assets to secure repurchase agreements 1 $1,284 $1,016 Pledged trading assets to secure certain derivative agreements 76 72 Pledged trading assets to secure other arrangements 40 41 1 Repurchase agreements secured by collateral totaled $1.2 billion and $975 million at September 30, 2018 and December 31, 2017 , respectively. |
Securities Available for Sale (
Securities Available for Sale (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities Portfolio Composition | Securities Portfolio Composition September 30, 2018 (Dollars in millions) Amortized Unrealized Unrealized Fair Securities AFS: U.S. Treasury securities $4,275 $— $142 $4,133 Federal agency securities 224 2 3 223 U.S. states and political subdivisions 621 3 22 602 MBS - agency residential 23,112 111 718 22,505 MBS - agency commercial 2,713 1 112 2,602 MBS - non-agency commercial 943 — 38 905 Corporate and other debt securities 14 — — 14 Total securities AFS $31,902 $117 $1,035 $30,984 December 31, 2017 1 (Dollars in millions) Amortized Unrealized Unrealized Fair Securities AFS: U.S. Treasury securities $4,361 $2 $32 $4,331 Federal agency securities 257 3 1 259 U.S. states and political subdivisions 618 7 8 617 MBS - agency residential 22,616 222 134 22,704 MBS - agency commercial 2,121 3 38 2,086 MBS - non-agency residential 55 4 — 59 MBS - non-agency commercial 862 7 3 866 ABS 6 2 — 8 Corporate and other debt securities 17 — — 17 Total securities AFS $30,913 $250 $216 $30,947 1 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability . See Note 9 , "Other Assets," for additional information. |
Investment Income [Table Text Block] | The following table presents interest on securities AFS: Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2018 2017 2018 2017 Taxable interest $207 $187 $614 $551 Tax-exempt interest 5 4 14 9 Total interest on securities AFS 1 $212 $191 $628 $560 1 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets and began presenting income associated with certain of these equity securities in Trading account interest and other on the Consolidated Statements of Income. For periods prior to January 1, 2018, this income was previously presented in Interest on securities available for sale and has been reclassified to Trading account interest and other for comparability . |
Amortized Cost and Fair Value of Investments in Debt Securities by Estimated Average Life | The following table presents the amortized cost, fair value, and weighted average yield of the Company's investment securities at September 30, 2018 , by remaining contractual maturity, with the exception of MBS , which are based on estimated average life. Receipt of cash flows may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. Distribution of Remaining Maturities (Dollars in millions) Due in 1 Year or Less Due After 1 Year through 5 Years Due After 5 Years through 10 Years Due After 10 Years Total Amortized Cost: Securities AFS: U.S. Treasury securities $15 $2,695 $1,565 $— $4,275 Federal agency securities 113 28 8 75 224 U.S. states and political subdivisions 3 72 25 521 621 MBS - agency residential 1,619 6,488 14,736 269 23,112 MBS - agency commercial 1 467 1,937 308 2,713 MBS - non-agency commercial — 12 931 — 943 Corporate and other debt securities — 14 — — 14 Total securities AFS $1,751 $9,776 $19,202 $1,173 $31,902 Fair Value: Securities AFS: U.S. Treasury securities $15 $2,615 $1,503 $— $4,133 Federal agency securities 114 28 8 73 223 U.S. states and political subdivisions 3 75 25 499 602 MBS - agency residential 1,674 6,341 14,230 260 22,505 MBS - agency commercial 1 448 1,859 294 2,602 MBS - non-agency commercial — 12 893 — 905 Corporate and other debt securities — 14 — — 14 Total securities AFS $1,807 $9,533 $18,518 $1,126 $30,984 Weighted average yield 1 3.22 % 2.38 % 2.94 % 3.12 % 2.79 % 1 Weighted average yields are based on amortized cost and presented on an FTE basis. |
Securities in a Continuous Unrealized Loss Position | ecurities in an unrealized loss position at period end are presented in the following tables: September 30, 2018 Less than twelve months Twelve months or longer Total (Dollars in millions) Fair Unrealized 1 Fair Unrealized 1 Fair Unrealized 1 Temporarily impaired securities AFS: U.S. Treasury securities $2,554 $77 $1,579 $65 $4,133 $142 Federal agency securities 16 — 62 3 78 3 U.S. states and political subdivisions 210 7 280 15 490 22 MBS - agency residential 10,347 276 8,772 442 19,119 718 MBS - agency commercial 1,029 25 1,519 87 2,548 112 MBS - non-agency commercial 781 30 124 8 905 38 Corporate and other debt securities — — 9 — 9 — Total temporarily impaired securities AFS 14,937 415 12,345 620 27,282 1,035 OTTI securities AFS 2 : Total OTTI securities AFS — — — — — — Total impaired securities AFS $14,937 $415 $12,345 $620 $27,282 $1,035 1 Unrealized losses less than $0.5 million are presented as zero within the table. 2 OTTI securities AFS are impaired securities for which OTTI credit losses have been previously recognized in earnings. December 31, 2017 1 Less than twelve months Twelve months or longer Total (Dollars in millions) Fair Value Unrealized Losses 2 Fair Value Unrealized Losses 2 Fair Value Unrealized Losses 2 Temporarily impaired securities AFS: U.S. Treasury securities $1,993 $12 $841 $20 $2,834 $32 Federal agency securities 23 — 60 1 83 1 U.S. states and political subdivisions 267 3 114 5 381 8 MBS - agency residential 8,095 38 4,708 96 12,803 134 MBS - agency commercial 887 9 915 29 1,802 38 MBS - non-agency commercial 134 1 93 2 227 3 ABS — — 4 — 4 — Corporate and other debt securities 10 — — — 10 — Total temporarily impaired securities AFS 11,409 63 6,735 153 18,144 216 OTTI securities AFS 3 : ABS — — 1 — 1 — Total OTTI securities AFS — — 1 — 1 — Total impaired securities AFS $11,409 $63 $6,736 $153 $18,145 $216 1 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability . 2 Unrealized losses less than $0.5 million are presented as zero within the table. 3 OTTI securities AFS are impaired securities for which OTTI credit losses have been previously recognized in earnings. |
Realized Gain (Loss) on Investments [Table Text Block] | Net securities gains or losses are comprised of gross realized gains, gross realized losses, and OTTI credit losses recognized in earnings. Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2018 2017 2018 2017 Gross realized gains $— $1 $7 $2 Gross realized losses — (1 ) (6 ) (1 ) OTTI credit losses recognized in earnings — — — — Net securities gains $— $— $1 $1 |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Composition of Loan Portfolio | (Dollars in millions) September 30, 2018 December 31, 2017 Commercial loans: C&I 1 $68,203 $66,356 CRE 6,618 5,317 Commercial construction 3,137 3,804 Total commercial LHFI 77,958 75,477 Consumer loans: Residential mortgages - guaranteed 452 560 Residential mortgages - nonguaranteed 2 28,187 27,136 Residential home equity products 9,669 10,626 Residential construction 197 298 Guaranteed student 7,039 6,633 Other direct 10,100 8,729 Indirect 12,010 12,140 Credit cards 1,603 1,582 Total consumer LHFI 69,257 67,704 LHFI $147,215 $143,181 LHFS 3 $1,961 $2,290 1 Includes $3.8 billion and $3.7 billion of lease financing, and $838 million and $778 million of installment loans at September 30, 2018 and December 31, 2017 , respectively. 2 Includes $168 million and $196 million of LHFI measured at fair value at September 30, 2018 and December 31, 2017 , respectively. 3 Includes $1.8 billion and $1.6 billion of LHFS measured at fair value at September 30, 2018 and December 31, 2017 , respectively. |
LHFI by Credit Quality Indicator | LHFI by credit quality indicator are presented in the following tables: Commercial Loans C&I CRE Commercial Construction (Dollars in millions) September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 Risk rating: Pass $66,224 $64,546 $6,418 $5,126 $3,038 $3,770 Criticized accruing 1,723 1,595 157 167 99 33 Criticized nonaccruing 256 215 43 24 — 1 Total $68,203 $66,356 $6,618 $5,317 $3,137 $3,804 Consumer Loans 1 Residential Mortgages - Nonguaranteed Residential Home Equity Products Residential Construction (Dollars in millions) September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 Current FICO score range: 700 and above $24,968 $23,602 $8,208 $8,946 $163 $240 620 - 699 2,499 2,721 1,046 1,242 27 50 Below 620 2 720 813 415 438 7 8 Total $28,187 $27,136 $9,669 $10,626 $197 $298 Other Direct Indirect Credit Cards (Dollars in millions) September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 Current FICO score range: 700 and above $9,197 $7,929 $8,967 $9,094 $1,084 $1,088 620 - 699 866 757 2,321 2,344 401 395 Below 620 2 37 43 722 702 118 99 Total $10,100 $8,729 $12,010 $12,140 $1,603 $1,582 1 Excludes $7.0 billion and $6.6 billion of guaranteed student loans and $452 million and $560 million of guaranteed residential mortgages at September 30, 2018 and December 31, 2017 , respectively, for which there was nominal risk of principal loss due to the government guarantee. 2 For substantially all loans with refreshed FICO scores below 620, the borrower’s FICO score at the time of origination exceeded 620 but has since deteriorated as the loan has seasoned. |
Payment Status for the LHFI Portfolio | The LHFI portfolio by payment status is presented in the following tables: September 30, 2018 Accruing (Dollars in millions) Current 30-89 Days Past Due 90+ Days Past Due Nonaccruing 1 Total Commercial loans: C&I $67,897 $40 $10 $256 $68,203 CRE 6,572 2 1 43 6,618 Commercial construction 3,137 — — — 3,137 Total commercial LHFI 77,606 42 11 299 77,958 Consumer loans: Residential mortgages - guaranteed 127 38 287 — 3 452 Residential mortgages - nonguaranteed 2 27,880 73 9 225 28,187 Residential home equity products 9,449 70 1 149 9,669 Residential construction 185 1 2 9 197 Guaranteed student 5,175 711 1,153 — 3 7,039 Other direct 10,050 39 4 7 10,100 Indirect 11,905 99 — 6 12,010 Credit cards 1,573 15 15 — 1,603 Total consumer LHFI 66,344 1,046 1,471 396 69,257 Total LHFI $143,950 $1,088 $1,482 $695 $147,215 1 Includes nonaccruing LHFI past due 90 days or more of $348 million . Nonaccruing LHFI past due fewer than 90 days include nonaccrual loans modified in TDRs, performing second lien loans where the first lien loan is nonperforming, and certain energy-related commercial loans. 2 I ncludes $168 million of loans measured at fair value, the majority of which were accruing current. 3 Guaranteed loans are not placed on nonaccruing regardless of delinquency status because collection of principal and interest is reasonably assured by the government. December 31, 2017 Accruing (Dollars in millions) Current 30-89 Days Past Due 90+ Days Past Due Nonaccruing 1 Total Commercial loans: C&I $66,092 $42 $7 $215 $66,356 CRE 5,293 — — 24 5,317 Commercial construction 3,803 — — 1 3,804 Total commercial LHFI 75,188 42 7 240 75,477 Consumer loans: Residential mortgages - guaranteed 159 55 346 — 3 560 Residential mortgages - nonguaranteed 2 26,778 148 4 206 27,136 Residential home equity products 10,348 75 — 203 10,626 Residential construction 280 7 — 11 298 Guaranteed student 4,946 659 1,028 — 3 6,633 Other direct 8,679 36 7 7 8,729 Indirect 12,022 111 — 7 12,140 Credit cards 1,556 13 13 — 1,582 Total consumer LHFI 64,768 1,104 1,398 434 67,704 Total LHFI $139,956 $1,146 $1,405 $674 $143,181 1 Includes nonaccruing LHFI past due 90 days or more of $357 million . Nonaccruing LHFI past due fewer than 90 days include nonaccrual loans modified in TDRs, performing second lien loans where the first lien loan is nonperforming, and certain energy-related commercial loans. 2 Includes $196 million of loans measured at fair value, the majority of which were accruing current. 3 Guaranteed loans are not placed on nonaccruing regardless of delinquency status because collection of principal and interest is reasonably assured by the government. |
LHFI Considered Impaired | September 30, 2018 December 31, 2017 (Dollars in millions) Unpaid Principal Balance Carrying 1 Value Related ALLL Unpaid Principal Balance Carrying 1 Value Related ALLL Impaired LHFI with no ALLL recorded: Commercial loans: C&I $51 $32 $— $38 $35 $— CRE 21 20 — — — — Total commercial LHFI with no ALLL recorded 72 52 — 38 35 — Consumer loans: Residential mortgages - nonguaranteed 483 378 — 458 363 — Residential construction 12 6 — 15 9 — Total consumer LHFI with no ALLL recorded 495 384 — 473 372 — Impaired LHFI with an ALLL recorded: Commercial loans: C&I 189 165 26 127 117 19 CRE 25 21 2 21 21 2 Total commercial LHFI with an ALLL recorded 214 186 28 148 138 21 Consumer loans: Residential mortgages - nonguaranteed 1,049 1,027 101 1,133 1,103 113 Residential home equity products 873 821 49 953 895 54 Residential construction 83 81 6 93 90 7 Other direct 57 57 1 59 59 1 Indirect 131 131 6 123 122 7 Credit cards 29 8 1 26 7 1 Total consumer LHFI with an ALLL recorded 2,222 2,125 164 2,387 2,276 183 Total impaired LHFI $3,003 $2,747 $192 $3,046 $2,821 $204 1 Carrying value reflects charge-offs that have been recognized plus other amounts that have been applied to adjust the net book balance. Included in the impaired LHFI carrying values above at September 30, 2018 and December 31, 2017 were $2.3 billion and $2.4 billion of accruing TDRs, of which 97% and 96% were current, respectively. See Note 1 , “Significant Accounting Policies,” to the Company's 2017 Annual Report on Form 10-K for further information regarding the Company’s loan impairment policy. Three Months Ended September 30 Nine Months Ended September 30 2018 2017 2018 2017 (Dollars in millions) Average Carrying Value Interest 1 Income Recognized Average Carrying Value Interest 1 Income Recognized Average Carrying Value Interest 1 Income Recognized Average Carrying Value Interest 1 Income Recognized Impaired LHFI with no ALLL recorded: Commercial loans: C&I $44 $— $70 $— $45 $1 $81 $— CRE 20 — — — 20 — — — Total commercial LHFI with no ALLL recorded 64 — 70 — 65 1 81 — Consumer loans: Residential mortgages - nonguaranteed 381 4 364 4 386 11 361 11 Residential construction 7 — 9 — 7 — 9 — Total consumer LHFI with no ALLL recorded 388 4 373 4 393 11 370 11 Impaired LHFI with an ALLL recorded: Commercial loans: C&I 177 — 150 — 176 3 145 2 CRE 21 — — — 22 — — — Total commercial LHFI with an ALLL recorded 198 — 150 — 198 3 145 2 Consumer loans: Residential mortgages - nonguaranteed 1,027 13 1,135 14 1,031 39 1,146 45 Residential home equity products 824 9 890 8 833 27 901 24 Residential construction 80 1 96 2 82 4 98 4 Other direct 57 1 58 1 58 3 59 3 Indirect 134 2 120 2 141 5 128 4 Credit cards 8 — 6 — 8 1 6 1 Total consumer LHFI with an ALLL recorded 2,130 26 2,305 27 2,153 79 2,338 81 Total impaired LHFI $2,780 $30 $2,898 $31 $2,809 $94 $2,934 $94 1 Of the interest income recognized during each of the three and nine months ended September 30, 2018 and 2017 , cash basis interest income was immaterial. |
Nonperforming Assets | NPAs are presented in the following table: (Dollars in millions) September 30, 2018 December 31, 2017 NPAs: Commercial NPLs: C&I $256 $215 CRE 43 24 Commercial construction — 1 Consumer NPLs: Residential mortgages - nonguaranteed 225 206 Residential home equity products 149 203 Residential construction 9 11 Other direct 7 7 Indirect 6 7 Total nonaccrual loans/NPLs 1 695 674 OREO 2 52 57 Other repossessed assets 7 10 Total NPAs $754 $741 1 Nonaccruing restructured loans are included in total nonaccrual loans /NPLs. 2 Does not include foreclosed real estate related to loans insured by the FHA or guaranteed by the VA . Proceeds due from the FHA and the VA are recorded as a receivable in Other assets in the Consolidated Balance Sheets until the property is conveyed and the funds are received. The receivable related to proceeds due from the FHA and the VA totaled $49 million and $45 million at September 30, 2018 and December 31, 2017 , respectively. |
TDR Modifications | Three Months Ended September 30, 2018 1 (Dollars in millions) Number of Loans Modified Rate Modification Term Extension and/or Other Concessions Total Commercial loans: C&I 47 $— $16 $16 Consumer loans: Residential mortgages - nonguaranteed 48 3 7 10 Residential home equity products 130 1 11 12 Other direct 141 — 2 2 Indirect 559 — 14 14 Credit cards 345 1 — 1 Total TDR additions 1,270 $5 $50 $55 1 Includes loans modified under the terms of a TDR that were charged-off during the period. Nine Months Ended September 30, 2018 1 (Dollars in millions) Number of Loans Modified Rate Modification Term Extension and/or Other Concessions Total Commercial loans: C&I 122 $— $75 $75 Consumer loans: Residential mortgages - nonguaranteed 267 18 46 64 Residential home equity products 410 1 34 35 Residential construction 4 — — — Other direct 469 — 6 6 Indirect 1,954 — 46 46 Credit cards 1,079 4 — 4 Total TDR additions 4,305 $23 $207 $230 1 Includes loans modified under the terms of a TDR that were charged-off during the period. Three Months Ended September 30, 2017 1 (Dollars in millions) Number of Loans Modified Rate Modification Term Extension and/or Other Concessions Total Commercial loans: C&I 76 $2 $7 $9 Consumer loans: Residential mortgages - nonguaranteed 41 6 4 10 Residential home equity products 696 18 45 63 Other direct 135 — 2 2 Indirect 738 — 17 17 Credit cards 182 1 — 1 Total TDR additions 1,868 $27 $75 $102 1 Includes loans modified under the terms of a TDR that were charged-off during the period. Nine Months Ended September 30, 2017 1 (Dollars in millions) Number of Loans Modified Rate Modification Term Extension and/or Other Concessions Total Commercial loans: C&I 136 $2 $86 $88 Consumer loans: Residential mortgages - nonguaranteed 119 17 8 25 Residential home equity products 1,971 18 172 190 Other direct 425 — 6 6 Indirect 2,034 — 50 50 Credit cards 615 3 — 3 Total TDR additions 5,300 $40 $322 $362 1 Includes loans modified under the terms of a TDR that were charged-off during the period. |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Allowance for Credit Losses [Abstract] | |
Activity in the Allowance for Credit Losses | The allowance for credit losses consists of the ALLL and the unfunded commitments reserve. Activity in the allowance for credit losses by loan segment is presented in the following tables: Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 (Dollars in millions) Commercial Consumer Total Commercial Consumer Total ALLL, beginning of period $1,068 $582 $1,650 $1,101 $634 $1,735 Provision for loan losses 36 25 61 37 91 128 Loan charge-offs (51 ) (71 ) (122 ) (95 ) (234 ) (329 ) Loan recoveries 9 25 34 19 70 89 ALLL, end of period 1,062 561 1,623 1,062 561 1,623 Unfunded commitments reserve, beginning of period 1 72 — 72 79 — 79 Benefit for unfunded commitments — — — (7 ) — (7 ) Unfunded commitments reserve, end of period 1 72 — 72 72 — 72 Allowance for credit losses, end of period $1,134 $561 $1,695 $1,134 $561 $1,695 1 The unfunded commitments reserve is recorded in Other liabilities in the Consolidated Balance Sheets. Three Months Ended September 30, 2017 Nine Months Ended September 30, 2017 (Dollars in millions) Commercial Consumer Total Commercial Consumer Total ALLL, beginning of period $1,140 $591 $1,731 $1,124 $585 $1,709 Provision for loan losses 5 114 119 89 235 324 Loan charge-offs (33 ) (76 ) (109 ) (122 ) (235 ) (357 ) Loan recoveries 11 20 31 32 64 96 ALLL, end of period 1,123 649 1,772 1,123 649 1,772 Unfunded commitments reserve, beginning of period 1 72 — 72 67 — 67 Provision for unfunded commitments 1 — 1 6 — 6 Unfunded commitments reserve, end of period 1 73 — 73 73 — 73 Allowance for credit losses, end of period $1,196 $649 $1,845 $1,196 $649 $1,845 1 The unfunded commitments reserve is recorded in Other liabilities in the Consolidated Balance Sheets. |
Loans Held for Investment portfolio and Related Allowance for Loan and Lease Losses | The Company’s LHFI portfolio and related ALLL are presented in the following tables: September 30, 2018 Commercial Loans Consumer Loans Total (Dollars in millions) Carrying Value Related ALLL Carrying Value Related Carrying Value Related LHFI evaluated for impairment: Individually evaluated $238 $28 $2,509 $164 $2,747 $192 Collectively evaluated 77,720 1,034 66,580 397 144,300 1,431 Total evaluated 77,958 1,062 69,089 561 147,047 1,623 LHFI measured at fair value — — 168 — 168 — Total LHFI $77,958 $1,062 $69,257 $561 $147,215 $1,623 December 31, 2017 Commercial Loans Consumer Loans Total (Dollars in millions) Carrying Related ALLL Carrying Related Carrying Related LHFI evaluated for impairment: Individually evaluated $173 $21 $2,648 $183 $2,821 $204 Collectively evaluated 75,304 1,080 64,860 451 140,164 1,531 Total evaluated 75,477 1,101 67,508 634 142,985 1,735 LHFI measured at fair value — — 196 — 196 — Total LHFI $75,477 $1,101 $67,704 $634 $143,181 $1,735 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill [Table Text Block] | (Dollars in millions) Consumer Wholesale Total Balance, January 1, 2018 $4,262 $2,069 $6,331 Reallocation related to intersegment transfer of business banking clients 128 (128 ) — Balance, September 30, 2018 $4,390 $1,941 $6,331 |
Schedule of Finite-Lived Intangible Assets by Major Class [Table Text Block] | Changes in the carrying amount of other intangible assets are presented in the following table: (Dollars in millions) Residential MSRs - Fair Value Commercial Mortgage Servicing Rights and Other Total Balance, January 1, 2018 $1,710 $81 $1,791 Amortization 1 — (13 ) (13 ) Servicing rights originated 250 10 260 Servicing rights purchased 89 — 89 Changes in fair value: Due to changes in inputs and assumptions 2 198 — 198 Other changes in fair value 3 (183 ) — (183 ) Servicing rights sold (2 ) — (2 ) Balance, September 30, 2018 $2,062 $78 $2,140 Balance, January 1, 2017 $1,572 $85 $1,657 Amortization 1 — (16 ) (16 ) Servicing rights originated 252 10 262 Changes in fair value: Due to changes in inputs and assumptions 2 (27 ) — (27 ) Other changes in fair value 3 (168 ) — (168 ) Servicing rights sold (1 ) — (1 ) Other 4 — (1 ) (1 ) Balance, September 30, 2017 $1,628 $78 $1,706 1 Does not include expense associated with community development investments. See Note 10 , "Certain Transfers of Financial Assets and Variable Interest Entities," for additional information. 2 Primarily reflects changes in option adjusted spreads and prepayment speed assumptions, due to changes in interest rates. 3 Represents changes due to the collection of expected cash flows, net of accretion due to the passage of time. 4 Represents measurement period adjustment on other intangible assets acquired previously in the Pillar acquisition. |
Schedule of intangible assets [Table Text Block] | The gross carrying value and accumulated amortization of other intangible assets are presented in the following table: September 30, 2018 December 31, 2017 (Dollars in millions) Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value Amortized other intangible assets 1 : Commercial mortgage servicing rights $89 ($25 ) $64 $79 ($14 ) $65 Other 19 (17 ) 2 32 (28 ) 4 Unamortized other intangible assets: Residential MSRs 2,062 — 2,062 1,710 — 1,710 Other 12 — 12 12 — 12 Total other intangible assets $2,182 ($42 ) $2,140 $1,833 ($42 ) $1,791 1 Excludes other intangible assets that are indefinite-lived, carried at fair value, or fully amortized. |
Schedule of fees from residential mortgage servicing rights [Table Text Block] | Income earned by the Company on its residential MSRs is derived primarily from contractually specified mortgage servicing fees and late fees, net of curtailment costs, and is presented in the following table. Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2018 2017 2018 2017 Income from residential MSRs 1 $108 $100 $322 $301 1 Recognized in Mortgage servicing related income in the Consolidated Statements of Income. |
Schedule of Principal Amount Outstanding of Residential Loans Serviced [Table Text Block] | The UPB of residential mortgage loans serviced for third parties is presented in the following table: (Dollars in millions) September 30, 2018 December 31, 2017 UPB of loans underlying residential MSRs $139,955 $136,071 |
Key Characteristics, Inputs, and Economic Assumptions Used to Estimate the Fair Value of the Company's MSRs | A summary of the significant unobservable inputs used to estimate the fair value of the Company’s residential MSRs and the uncertainty of the fair values in response to 10% and 20% adverse changes in those inputs at the reporting date, are presented in the following table. (Dollars in millions) September 30, 2018 December 31, 2017 Fair value of residential MSRs $2,062 $1,710 Prepayment rate assumption (annual) 12 % 13 % Decline in fair value from 10% adverse change $91 $85 Decline in fair value from 20% adverse change 173 160 Option adjusted spread (annual) 3 % 4 % Decline in fair value from 10% adverse change $52 $47 Decline in fair value from 20% adverse change 100 90 Weighted-average life (in years) 5.8 5.4 Weighted-average coupon 4.0 % 3.9 % |
Schedule of fees from commercial mortgage servicing rights [Table Text Block] | The following table presents the Company's income earned from servicing commercial mortgages. Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2018 2017 2018 2017 Income from commercial mortgage servicing rights 1 $5 $6 $20 $17 Income from subservicing third party commercial mortgages 1 3 3 9 11 1 Recognized in Commercial real estate related income in the Consolidated Statements of Income. |
Schedule of Principal Amount Outstanding of Commercial Loans Serviced [Table Text Block] | The UPB of commercial mortgage loans serviced for third parties is presented in the following table: (Dollars in millions) September 30, 2018 December 31, 2017 UPB of commercial mortgages subserviced for third parties $26,206 $24,294 UPB of loans underlying commercial mortgage servicing rights 6,039 5,760 Total UPB of commercial mortgages serviced for third parties $32,245 $30,054 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | A summary of the significant unobservable inputs used to estimate the fair value of the Company’s commercial mortgage servicing rights and the uncertainty of the fair values in response to 10% and 20% adverse changes in those inputs at the reporting date, are presented in the following table. (Dollars in millions) September 30, 2018 December 31, 2017 Fair value of commercial mortgage servicing rights $77 $75 Discount rate (annual) 12 % 12 % Decline in fair value from 10% adverse change $3 $3 Decline in fair value from 20% adverse change 6 6 Prepayment rate assumption (annual) 6 % 7 % Decline in fair value from 10% adverse change $1 $1 Decline in fair value from 20% adverse change 2 2 Weighted-average life (in years) 7.8 7.0 Float earnings rate (annual) 1.1 % 1.1 % |
Other Assets (Tables)
Other Assets (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Other Assets Disclosure [Abstract] | |
Schedule of Other Assets [Table Text Block] | The components of other assets are presented in the following table: (Dollars in millions) September 30, 2018 December 31, 2017 Equity securities 1 : Marketable equity securities 2 : Mutual fund investments $65 $49 Other equity 3 27 7 Nonmarketable equity securities: Federal Reserve Bank stock 2 403 403 FHLB stock 2 142 15 Other equity 3 50 26 Lease assets 2,110 1,528 Tax credit investments 4 1,583 1,272 Bank-owned life insurance 1,619 1,411 Accrued income 1,059 880 Accounts receivable 669 2,201 Pension assets, net 518 464 Prepaid expenses 248 319 OREO 52 57 Other 887 786 Total other assets $9,432 $9,418 1 Equity securities held for trading purposes are classified in Trading assets and derivative instruments or Trading liabilities and derivative instruments on the Company's Consolidated Balance Sheets. 2 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability . 3 During the second quarter of 2018, the Company reclassified $22 million of equity securities from nonmarketable to marketable equity securities due to readily determinable fair value information observed in active markets. 4 See Note 10 , "Certain Transfers of Financial Assets and Variable Interest Entities," for additional information. |
Schedule of Gains/(Losses) from Equity Securities [Table Text Block] | The following table summarizes net gains/(losses) for equity securities not classified as trading assets: (Dollars in millions) Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 Net (losses)/gains from marketable equity securities 1 ($4 ) $10 Net gains/(losses) from nonmarketable equity securities: Remeasurement losses and impairment — — Remeasurement gains 1 7 30 Less: Net realized gains from sale — — Total net unrealized gains from non-trading equity securities $3 $40 1 Recognized in Other noninterest income in the Company's Consolidated Statements of Income. |
Certain Transfers of Financia_2
Certain Transfers of Financial Assets and Variable Interest Entities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Certain Transfers of Financial Assets and Variable Interest Entities [Abstract] | |
Community Development Tax Credits and Amortization [Table Text Block] | The following table presents tax credits and amortization associated with the Company’s investments in community development investments. Tax Credits Amortization Three Months Ended September 30 Nine Months Ended September 30 Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2018 2017 2018 2017 2018 2017 2018 2017 Qualified affordable housing partnerships $28 $27 $87 $77 $29 $27 $92 $76 Other community development investments 23 25 62 60 19 19 49 45 |
Quantitative Information about Transferred Financial Assets that have been Derecognized and Other Financial Assets Managed Together [Table Text Block] | The Company's total managed loans, including the LHFI portfolio and other transferred loans (securitized and unsecuritized), are presented in the following table by portfolio balance and delinquency status (accruing loans 90 days or more past due and all nonaccrual loans) at September 30, 2018 and December 31, 2017 , as well as the related net charge-offs for the three and nine months ended September 30, 2018 and 2017 . Portfolio Balance Past Due and Nonaccrual Net Charge-offs September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2018 2017 2018 2017 LHFI portfolio: Commercial $77,958 $75,477 $310 $247 $42 $22 $76 $90 Consumer 69,257 67,704 1,867 1,832 46 56 164 171 Total LHFI portfolio 147,215 143,181 2,177 2,079 88 78 240 261 Managed securitized loans: Commercial 1 6,039 5,760 — — — — — — Consumer 138,747 134,160 226 171 1 2 3 2 5 2 7 2 Total managed securitized loans 144,786 139,920 226 171 1 3 5 7 Managed unsecuritized loans 3 1,380 2,200 190 340 — — — — Total managed loans $293,381 $285,301 $2,593 $2,590 $89 $81 $245 $268 1 Comprised of commercial mortgages sold through Fannie Mae , Freddie Mac , and Ginnie Mae securitizations, whereby servicing has been retained by the Company. 2 Amounts associated with $429 million and $602 million of managed securitized loans at September 30, 2018 and December 31, 2017 , respectively. Net charge-off data is not reported to the Company for the remaining balance of $138.3 billion and $133.6 billion of managed securitized loans at September 30, 2018 and December 31, 2017 , respectively. 3 Comprised of unsecuritized loans the Company originated and sold to private investors with servicing rights retained. Net charge-offs on these loans are not presented in the table as the data is not reported to the Company by the private investors that own these related loans. |
Tax Credit Variable Interest Entities [Table Text Block] | The following table provides information related to the Company's investments in tax credit VIEs that it does not consolidate: Community Development Investments Renewable Energy Partnerships (Dollars in millions) September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 Carrying value of investments 1 $1,515 $1,272 $68 $— Maximum exposure to loss related to investments 2 2,173 1,905 165 — 1 At September 30, 2018 and December 31, 2017 , the carrying value of community development investments excludes $67 million and $59 million of investments in funds that do not qualify for tax credits, respectively. 2 At September 30, 2018 and December 31, 2017 , the Company's maximum exposure to loss related to community development investments includes $484 million and $354 million of loans and $648 million and $627 million of unfunded equity commitments, respectively. At September 30, 2018 and December 31, 2017 , the Company's maximum exposure to loss related to renewable energy partnerships includes $97 million and $0 of unfunded equity commitments, respectively. |
Net Income Per Common Share (Ta
Net Income Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Reconciliation of Net Income/(Loss) to Net Income/(Loss) Available to Common Shareholders | Three Months Ended September 30 Nine Months Ended September 30 (Dollars and shares in millions, except per share data) 2018 2017 2018 2017 Net income $752 $538 $2,117 $1,533 Less: Preferred stock dividends (26 ) (26 ) (81 ) (65 ) Net income available to common shareholders $726 $512 $2,036 $1,468 Average common shares outstanding - basic 460.3 478.3 464.8 483.7 Add dilutive securities: RSUs 3.0 2.9 2.8 2.9 Common stock warrants, options, and restricted stock 0.9 2.4 1.4 2.6 Average common shares outstanding - diluted 464.2 483.6 469.0 489.2 Net income per average common share - diluted $1.56 $1.06 $4.34 $3.00 Net income per average common share - basic 1.58 1.07 4.38 3.04 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Employee Benefit Plans [Abstract] | |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | Stock-based compensation expense recognized in Employee compensation in the Consolidated Statements of Income consisted of the following: Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2018 2017 2018 2017 RSUs $21 $14 $82 $64 Phantom stock units 1 10 17 36 57 Total stock-based compensation expense $31 $31 $118 $121 Stock-based compensation tax benefit 2 $8 $12 $28 $46 1 Phantom stock units are settled in cash. During the three and nine months ended September 30, 2018 , the Company paid $1 million and $76 million , respectively, related to these share-based liabilities. During the three and nine months ended September 30, 2017 , the Company paid $2 million and $79 million , respectively, related to these share-based liabilities. 2 Does not include excess tax benefits or deficiencies recognized in the Provision for income taxes in the Consolidated Statements of Income. |
Schedule of Net Benefit Costs [Table Text Block] | Components of net periodic benefit related to the Company's pension and other postretirement benefits plans are presented in the following table and are recognized in Employee benefits in the Consolidated Statements of Income: Pension Benefits 1 Other Postretirement Benefits Three Months Ended September 30 Nine Months Ended September 30 Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2018 2017 2018 2017 2018 2017 2018 2017 Service cost $1 $1 $4 $4 $— $— $— $— Interest cost 23 24 68 71 — — 1 1 Expected return on plan assets (47 ) (49 ) (140 ) (146 ) (1 ) (1 ) (4 ) (4 ) Amortization of prior service credit — — — — (2 ) (1 ) (5 ) (4 ) Amortization of actuarial loss 6 6 17 18 — — — — Net periodic benefit ($17 ) ($18 ) ($51 ) ($53 ) ($3 ) ($2 ) ($8 ) ($7 ) 1 Administrative fees are recognized in service cost for each of the periods presented. |
Guarantees (Tables)
Guarantees (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Guarantees [Abstract] | |
Mortgage Loan Repurchase Losses [Table Text Block] | The following table summarizes the changes in the Company’s reserve for residential mortgage loan repurchases: Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2018 2017 2018 2017 Balance, beginning of period $36 $40 $39 $40 Repurchase provision/(benefit) 1 — (2 ) — Charge-offs, net of recoveries (1 ) (1 ) (1 ) (1 ) Balance, end of period $36 $39 $36 $39 |
Repurchased Mortgage Loan [Table Text Block] | The following table summarizes the carrying value of the Company's outstanding repurchased residential mortgage loans: (Dollars in millions) September 30, 2018 December 31, 2017 Outstanding repurchased residential mortgage loans: Performing LHFI $189 $203 Nonperforming LHFI 17 16 Total carrying value of outstanding repurchased residential mortgages $206 $219 |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Derivative Instruments [Table Text Block] | The following table presents the Company’s derivative positions at September 30, 2018 and December 31, 2017 . The notional amounts in the table are presented on a gross basis at September 30, 2018 and December 31, 2017 . Gross positive and gross negative fair value amounts associated with respective notional amounts are presented without consideration of any netting agreements, including collateral arrangements. Net fair value derivative amounts are adjusted on an aggregate basis, where applicable, to take into consideration the effects of legally enforceable master netting agreements, including any cash collateral received or paid, and are recognized in Trading assets and derivative instruments or Trading liabilities and derivative instruments on the Consolidated Balance Sheets . September 30, 2018 December 31, 2017 Fair Value Fair Value (Dollars in millions) Notional Amounts Asset Derivatives Liability Derivatives Notional Amounts Asset Derivatives Liability Derivatives Derivative instruments designated in hedging relationships Cash flow hedges: 1 Interest rate contracts hedging floating rate LHFI $12,900 $2 $1 $14,200 $2 $252 Subtotal 12,900 2 1 14,200 2 252 Fair value hedges: 2 Interest rate contracts hedging fixed rate debt 7,705 2 — 5,920 1 58 Interest rate contracts hedging brokered time deposits 60 — — 60 — — Subtotal 7,765 2 — 5,980 1 58 Derivative instruments not designated as hedging instruments 3 Interest rate contracts hedging: Residential MSRs 4 25,690 18 20 42,021 119 119 LHFS, IRLCs 5 5,485 15 4 7,590 9 6 LHFI 183 — — 175 2 2 Trading activity 6 127,059 595 894 126,366 1,066 946 Foreign exchange rate contracts hedging loans and trading activity 7,418 106 91 7,058 110 102 Credit contracts hedging: LHFI 825 — 23 515 — 11 Trading activity 7 3,869 25 23 3,454 15 12 Equity contracts hedging trading activity 6 37,362 2,384 2,648 38,907 2,499 2,857 Other contracts: IRLCs and other 8 1,886 13 9 2,017 18 16 Commodity derivatives 1,678 118 116 1,422 63 61 Subtotal 211,455 3,274 3,828 229,525 3,901 4,132 Total derivative instruments $232,120 $3,278 $3,829 $249,705 $3,904 $4,442 Total gross derivative instruments (before netting) $3,278 $3,829 $3,904 $4,442 Less: Legally enforceable master netting agreements (2,185 ) (2,185 ) (2,731 ) (2,731 ) Less: Cash collateral received/paid (471 ) (946 ) (371 ) (1,303 ) Total derivative instruments (after netting) $622 $698 $802 $408 1 See “Cash Flow Hedging” in this Note for further discussion. 2 See “Fair Value Hedging” in this Note for further discussion. 3 See “Economic Hedging Instruments and Trading Activities” in this Note for further discussion. 4 Notional amounts include $5.6 billion and $16.6 billion related to interest rate futures at September 30, 2018 and December 31, 2017 , respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. 5 Notional amounts include $302 million and $190 million related to interest rate futures at September 30, 2018 and December 31, 2017 , respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. 6 Notional amounts include $4.9 billion and $9.8 billion related to interest rate futures at September 30, 2018 and December 31, 2017 , and $274 million and $1.2 billion related to equity futures at September 30, 2018 and December 31, 2017 , respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. Notional amounts also include amounts related to interest rate swaps hedging fixed rate debt. 7 Notional amounts include $7 million and $4 million from purchased credit risk participation agreements at September 30, 2018 and December 31, 2017 , and $33 million and $11 million from written credit risk participation agreements at September 30, 2018 and December 31, 2017 , respectively. These notional amounts are calculated as the notional of the derivative participated adjusted by the relevant RWA conversion factor. 8 Notional amounts include $41 million and $49 million related to the Visa derivative liability at September 30, 2018 and December 31, 2017 , respectively. See Note 14 , "Gua rantees" for additional information. |
Netting of Financial Instruments - Derivatives [Table Text Block] | The following tables present total gross derivative instrument assets and liabilities at September 30, 2018 and December 31, 2017 , which are adjusted to reflect the effects of legally enforceable master netting agreements and cash collateral received or paid when calculating the net amount reported in the Consolidated Balance Sheets. Also included in the tables are financial instrument collateral related to legally enforceable master netting agreements that represents securities collateral received or pledged and customer cash collateral held at third party custodians. These amounts are not offset on the Consolidated Balance Sheets but are shown as a reduction to total derivative instrument assets and liabilities to derive net derivative assets and liabilities. These amounts are limited to the derivative asset/liability balance, and accordingly, do not include excess collateral received/pledged. (Dollars in millions) Gross Amount Amount Offset Net Amount Presented in Consolidated Balance Sheets Held/Pledged Financial Instruments Net Amount September 30, 2018 Derivative instrument assets: Derivatives subject to master netting arrangement or similar arrangement $2,940 $2,525 $415 $14 $401 Derivatives not subject to master netting arrangement or similar arrangement 14 — 14 — 14 Exchange traded derivatives 324 131 193 — 193 Total derivative instrument assets $3,278 $2,656 $622 1 $14 $608 Derivative instrument liabilities: Derivatives subject to master netting arrangement or similar arrangement $3,587 $3,000 $587 $58 $529 Derivatives not subject to master netting arrangement or similar arrangement 111 — 111 — 111 Exchange traded derivatives 131 131 — — — Total derivative instrument liabilities $3,829 $3,131 $698 2 $58 $640 December 31, 2017 Derivative instrument assets: Derivatives subject to master netting arrangement or similar arrangement $3,491 $2,923 $568 $28 $540 Derivatives not subject to master netting arrangement or similar arrangement 18 — 18 — 18 Exchange traded derivatives 395 179 216 — 216 Total derivative instrument assets $3,904 $3,102 $802 1 $28 $774 Derivative instrument liabilities: Derivatives subject to master netting arrangement or similar arrangement $4,128 $3,855 $273 $27 $246 Derivatives not subject to master netting arrangement or similar arrangement 130 — 130 — 130 Exchange traded derivatives 184 179 5 — 5 Total derivative instrument liabilities $4,442 $4,034 $408 2 $27 $381 1 At September 30, 2018 , $622 million , net of $471 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2017 , $802 million , net of $371 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. 2 At September 30, 2018 , $698 million , net of $946 million offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2017 , $408 million , net of $1.3 billion offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. |
Derivative Instruments, Gain (Loss) [Table Text Block] | Pursuant to the adoption of ASU 2017-12, the following table presents gains and losses on derivatives in fair value and cash flow hedging relationships by contract type and by income statement line item for the three and nine months ended September 30, 2018 . For the three and nine months ended September 30, 2017 the amounts presented below were not conformed to the new hedge accounting guidance. The table does not disclose the financial impact of the activities that these derivative instruments are intended to hedge. Net Interest Income Noninterest Income (Dollars in millions) Interest and fees on LHFI Interest on Long-term Debt Interest on Deposits Trading Income Total Three Months Ended September 30, 2018 Interest income/(expense), including the effects of fair value and cash flow hedges $1,549 ($95 ) ($193 ) $42 $1,303 (Loss)/gain on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $— ($2 ) $— $— ($2 ) Recognized on derivatives — (33 ) — — (33 ) Recognized on hedged items — 31 1 — — 31 Net expense recognized on fair value hedges $— ($4 ) $— $— ($4 ) Loss on cash flow hedging relationships: Interest rate contracts: Amount of pre-tax loss reclassified from AOCI into income ($22 ) 2 $— $— $— ($22 ) Net expense recognized on cash flow hedges ($22 ) $— $— $— ($22 ) Nine Months Ended September 30, 2018 Interest income/(expense), including the effects of fair value and cash flow hedges $4,424 ($252 ) ($484 ) $137 $3,825 (Loss)/gain on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $— ($1 ) $— $— ($1 ) Recognized on derivatives — (130 ) — — (130 ) Recognized on hedged items — 124 1 — — 124 Net expense recognized on fair value hedges $— ($7 ) $— $— ($7 ) Loss on cash flow hedging relationships: Interest rate contracts: Amount of pre-tax loss reclassified from AOCI into income ($39 ) 2 $— $— $— ($39 ) Net expense recognized on cash flow hedges ($39 ) $— $— $— ($39 ) Three Months Ended September 30, 2017 Interest income/(expense), including the effects of fair value and cash flow hedges $1,382 ($76 ) ($111 ) $51 $1,246 Gain/(loss) on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $— $3 $— $— $3 Recognized on derivatives — — — (3 ) (3 ) Recognized on hedged items — — — 3 3 Net income recognized on fair value hedges $— $3 $— $— $3 Gain on cash flow hedging relationships: Interest rate contracts: Amount of pre-tax gain reclassified from AOCI into income $13 2 $— $— $— $13 Net income recognized on cash flow hedges $13 $— $— $— $13 Nine Months Ended September 30, 2017 Interest income/(expense), including the effects of fair value and cash flow hedges $4,009 ($216 ) ($286 ) $148 $3,655 Gain/(loss) on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $— $12 $— $— $12 Recognized on derivatives — — — 5 5 Recognized on hedged items — — — (4 ) (4 ) Net income recognized on fair value hedges $— $12 $— $1 $13 Gain on cash flow hedging relationships: Interest rate contracts: Amount of pre-tax gain reclassified from AOCI into income $81 2 $— $— $— $81 Net income recognized on cash flow hedges $81 $— $— $— $81 1 Includes amortization from de-designated fair value hedging relationships. 2 These amounts include pre-tax gains/(losses) related to cash flow hedging relationships that have been terminated and were reclassified into earnings consistent with the pattern of net cash flows expected to be recognized. |
Hedged Items in Fair Value Hedging Relationships [Table Text Block] | The following table presents the carrying amount of hedged liabilities on the Consolidated Balance Sheets in fair value hedging relationships and the associated cumulative basis adjustment related to the application of hedge accounting: Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of Hedged Liabilities (Dollars in millions) Carrying Amount of Hedged Liabilities Hedged Items Currently Designated Hedged Items No Longer Designated September 30, 2018 Long-term debt $6,495 ($170 ) ($73 ) Brokered time deposits 29 — — |
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Table Text Block] | The impacts of derivative instruments used for economic hedging or trading purposes on the Consolidated Statements of Income are presented in the following table: Classification of (Loss)/Gain Recognized in Income on Derivatives Amount of (Loss)/Gain Recognized in Income on Derivatives During the Three Months Ended September 30 Amount of (Loss)/Gain Recognized in Income on Derivatives During the Nine Months Ended September 30 (Dollars in millions) 2018 2017 2018 2017 Derivative instruments not designated as hedging instruments: Interest rate contracts hedging: Residential MSRs Mortgage servicing related income ($54 ) $17 ($210 ) $41 LHFS, IRLCs Mortgage production related income 10 (20 ) 57 (57 ) LHFI Other noninterest income 1 — 3 (1 ) Trading activity Trading income 18 11 48 33 Foreign exchange rate contracts hedging loans and trading activity Trading income 9 (10 ) 49 (43 ) Credit contracts hedging: LHFI Other noninterest income (5 ) (1 ) (5 ) (3 ) Trading activity Trading income 5 8 16 19 Equity contracts hedging trading activity Trading income 6 (1 ) 8 (1 ) Other contracts: IRLCs and other Mortgage production related income, 19 49 39 154 Commodity derivatives Trading income — — — 1 Total $9 $53 $5 $143 |
Fair Value Election and Measu_2
Fair Value Election and Measurement (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Recurring Fair Value Measurements The following tables present certain information regarding assets and liabilities measured at fair value on a recurring basis and the changes in fair value for those specific financial instruments for which fair value has been elected. September 30, 2018 Fair Value Measurements (Dollars in millions) Level 1 Level 2 Level 3 Netting Adjustments 1 Assets/Liabilities at Fair Value Assets Trading assets and derivative instruments: U.S. Treasury securities $247 $— $— $— $247 Federal agency securities — 507 — — 507 U.S. states and political subdivisions — 91 — — 91 MBS - agency — 743 — — 743 Corporate and other debt securities — 820 — — 820 CP — 408 — — 408 Equity securities 67 — — — 67 Derivative instruments 324 2,942 12 (2,656 ) 622 Trading loans — 2,171 — — 2,171 Total trading assets and derivative instruments 638 7,682 12 (2,656 ) 5,676 Securities AFS: U.S. Treasury securities 4,133 — — — 4,133 Federal agency securities — 223 — — 223 U.S. states and political subdivisions — 602 — — 602 MBS - agency residential — 22,505 — — 22,505 MBS - agency commercial — 2,602 — — 2,602 MBS - non-agency commercial — 905 — — 905 Corporate and other debt securities — 14 — — 14 Total securities AFS 2 4,133 26,851 — — 30,984 LHFS — 1,822 — — 1,822 LHFI — — 168 — 168 Residential MSRs — — 2,062 — 2,062 Other assets 2 92 — — — 92 Liabilities Trading liabilities and derivative instruments: U.S. Treasury securities 742 — — — 742 Corporate and other debt securities — 411 — — 411 Equity securities 12 — — — 12 Derivative instruments 132 3,688 9 (3,131 ) 698 Total trading liabilities and derivative instruments 886 4,099 9 (3,131 ) 1,863 Brokered time deposits — 384 — — 384 Long-term debt — 235 — — 235 1 Amounts represent offsetting cash collateral received from, and paid to, the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. See Note 15 , "Derivative Financial Instruments," for additional information. 2 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability . See Note 9 , "Other Assets," for additional information. December 31, 2017 Fair Value Measurements (Dollars in millions) Level 1 Level 2 Level 3 Netting Adjustments 1 Assets/Liabilities at Fair Value Assets Trading assets and derivative instruments: U.S. Treasury securities $157 $— $— $— $157 Federal agency securities — 395 — — 395 U.S. states and political subdivisions — 61 — — 61 MBS - agency — 700 — — 700 Corporate and other debt securities — 655 — — 655 CP — 118 — — 118 Equity securities 56 — — — 56 Derivative instruments 395 3,493 16 (3,102 ) 802 Trading loans — 2,149 — — 2,149 Total trading assets and derivative instruments 608 7,571 16 (3,102 ) 5,093 Securities AFS: U.S. Treasury securities 4,331 — — — 4,331 Federal agency securities — 259 — — 259 U.S. states and political subdivisions — 617 — — 617 MBS - agency residential — 22,704 — — 22,704 MBS - agency commercial — 2,086 — — 2,086 MBS - non-agency residential — — 59 — 59 MBS - non-agency commercial — 866 — — 866 ABS — — 8 — 8 Corporate and other debt securities — 12 5 — 17 Total securities AFS 2 4,331 26,544 72 — 30,947 LHFS — 1,577 — — 1,577 LHFI — — 196 — 196 Residential MSRs — — 1,710 — 1,710 Other assets 2 56 — — — 56 Liabilities Trading liabilities and derivative instruments: U.S. Treasury securities 577 — — — 577 Corporate and other debt securities — 289 — — 289 Equity securities 9 — — — 9 Derivative instruments 183 4,243 16 (4,034 ) 408 Total trading liabilities and derivative instruments 769 4,532 16 (4,034 ) 1,283 Brokered time deposits — 236 — — 236 Long-term debt — 530 — — 530 1 Amounts represent offsetting cash collateral received from, and paid to, the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. See Note 15 , "Derivative Financial Instruments," for additional information. 2 Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability . See Note 9 , "Other Assets," for additional information. |
Fair Value Option Elected, Difference Between the Aggregate Fair Value and the Aggregate Unpaid Principal Balance | (Dollars in millions) Fair Value at September 30, 2018 Aggregate UPB at September 30, 2018 Fair Value Over/(Under) Unpaid Principal Assets: Trading loans $2,171 $2,160 $11 LHFS: Accruing 1,822 1,775 47 LHFI: Accruing 162 171 (9 ) Nonaccrual 6 8 (2 ) Liabilities: Brokered time deposits 384 379 5 Long-term debt 235 230 5 (Dollars in millions) Fair Value at December 31, 2017 Aggregate UPB at December 31, 2017 Fair Value Over/(Under) Unpaid Principal Assets: Trading loans $2,149 $2,111 $38 LHFS: Accruing 1,576 1,533 43 Past due 90 days or more 1 1 — LHFI: Accruing 192 198 (6 ) Nonaccrual 4 6 (2 ) Liabilities: Brokered time deposits 236 233 3 Long-term debt 530 517 13 |
Fair Value Gains/(Losses) for Items Measured at Fair Value Option [Table Text Block] | Fair Value Gain/(Loss) for the Three Months Ended September 30, 2018 for Items Measured at Fair Value Pursuant to Election of the FVO Fair Value Gain/(Loss) for the Nine Months Ended September 30, 2018 for Items Measured at Fair Value Pursuant to Election of the FVO (Dollars in millions) Trading Income Mortgage Production Related Income 1 Mortgage Servicing Related Income Other Noninterest Income Total Changes in Fair Values Included in Earnings 2 Trading Income Mortgage 1 Mortgage Servicing Related Income Other Noninterest Income Total Changes in Fair Values Included in Earnings 2 Assets: Trading loans $3 $— $— $— $3 $10 $— $— $— $10 LHFS — 5 — — 5 — (3 ) — — (3 ) LHFI — — — (1 ) (1 ) — — — (4 ) (4 ) Residential MSRs — 3 (11 ) — (8 ) — 7 15 — 22 Liabilities: Brokered time deposits (4 ) — — — (4 ) 6 — — — 6 Long-term debt 1 — — — 1 6 — — — 6 1 Income related to LHFS does not include income from IRLC s. For the three and nine months ended September 30, 2018 , income related to residential MSRs includes income recognized upon the sale of loans reported at LOCOM . 2 Changes in fair value for the three and nine months ended September 30, 2018 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS, LHFI, brokered time deposits, and long-term debt that have been elected to be measured at fair value are recognized in Interest income or Interest expense in the Consolidated Statements of Income. Fair Value Gain/(Loss) for the Three Months Ended September 30, 2017 for Items Measured at Fair Value Pursuant to Election of the FVO Fair Value Gain/(Loss) for the Nine Months Ended September 30, 2017 for Items Measured at Fair Value Pursuant to Election of the FVO (Dollars in millions) Trading Income Mortgage Production Related Income 1 Mortgage Servicing Related Income Other Noninterest Income Total Changes in Fair Values Included in Earnings 2 Trading Mortgage 1 Mortgage Other Total 2 Assets: Trading loans $8 $— $— $— $8 $16 $— $— $— $16 LHFS — 21 — — 21 — 44 — — 44 LHFI — — — — — — — — 1 1 Residential MSRs — 1 (70 ) — (69 ) — 3 (195 ) — (192 ) Liabilities: Brokered time deposits — — — — — 2 — — — 2 Long-term debt 5 — — — 5 16 — — — 16 1 Income related to LHFS does not include income from IRLC s. For the three and nine months ended September 30, 2017 , income related to residential MSRs includes income recognized upon the sale of loans reported at LOCOM . 2 Changes in fair value for the three and nine months ended September 30, 2017 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS, LHFI, brokered time deposits, and long-term debt that have been elected to be measured at fair value are recognized in Interest income or Interest expense in the Consolidated Statements of Income. |
Fair Value Level 3 Significant Unobservable Input Assumptions [Table Text Block] | The valuation technique and range, including weighted average, of the unobservable inputs associated with the Company's level 3 assets and liabilities are as follows: Level 3 Significant Unobservable Input Assumptions (Dollars in millions) Fair value September 30, 2018 Valuation Technique Unobservable Input Range (Weighted Average) 1 Assets Trading assets and derivative instruments: Derivative instruments, net 2 $3 Internal model Pull through rate 40-100% (82%) MSR value 28-173 bps (116 bps) LHFI 162 Monte Carlo/Discounted cash flow Option adjusted spread 62-784 bps (177 bps) Conditional prepayment rate 4-27 CPR (12 CPR) Conditional default rate 0-2 CDR (0.7 CDR) 6 Collateral based pricing Appraised value NM 3 Residential MSRs 2,062 Monte Carlo/Discounted cash flow Conditional prepayment rate 5-30 CPR (13 CPR) Option adjusted spread 0-113% (3%) 1 Unobservable inputs were weighted by the relative fair value of the financial instruments. 2 Amount represents the net of IRLC assets and liabilities and includes the derivative liability associated with the Company's sale of Visa shares. Refer to the "Trading Liabilities and Derivative Instruments" section herein for a discussion of valuation assumptions related to the Visa derivative liability. 3 Not meaningful. Level 3 Significant Unobservable Input Assumptions (Dollars in millions) Fair value December 31, 2017 Valuation Technique Unobservable Input 1 Range (Weighted Average) 2 Assets Trading assets and derivative instruments: Derivative instruments, net 3 $— Internal model Pull through rate 41-100% (81%) MSR value 41-190 bps (113 bps) Securities AFS: MBS - non-agency residential 59 Third party pricing N/A ABS 8 Third party pricing N/A Corporate and other debt securities 5 Cost N/A LHFI 192 Monte Carlo/Discounted cash flow Option adjusted spread 62-784 bps (215 bps) Conditional prepayment rate 2-34 CPR (11 CPR) Conditional default rate 0-5 CDR (0.7 CDR) 4 Collateral based pricing Appraised value NM 4 Residential MSRs 1,710 Monte Carlo/Discounted cash flow Conditional prepayment rate 6-30 CPR (13 CPR) Option adjusted spread 1-125% (4%) 1 For certain assets and liabilities where the Company utilizes third party pricing, the unobservable inputs and their ranges are not reasonably available, and therefore, have been noted as not applicable ("N/A"). 2 Unobservable inputs were weighted by the relative fair value of the financial instruments. 3 Amount represents the net of IRLC assets and liabilities and includes the derivative liability associated with the Company's sale of Visa shares. Refer to the "Trading Liabilities and Derivative Instruments" section herein for a discussion of valuation assumptions related to the Visa derivative liability. 4 Not meaningful. |
Reconciliation of the Beginning and Ending Balances for Fair Valued Assets and Liabilities Measured on a Recurring Basis Using Significant Unobservable Inputs | Fair Value Measurements Using Significant Unobservable Inputs (Dollars in millions) Beginning Included OCI Purchases Sales Settlements Transfers to/from Other Balance Sheet Line Items Transfers Transfers Fair Value Assets Trading assets: Derivative instruments, net $3 $18 1 $— $— $— $8 ($26 ) $— $— $3 LHFI 177 — 2 — — — (9 ) — — — 168 Fair Value Measurements Using Significant Unobservable Inputs (Dollars in millions) Beginning Included OCI Purchases Sales Settlements Transfers to/from Other Balance Sheet Line Items Transfers Transfers Fair Value Assets Trading assets: Derivative instruments, net $— $36 1 $— $— $— $10 ($43 ) $— $— $3 Securities AFS: MBS - non-agency residential 59 — — — — (2 ) — — (57 ) — ABS 8 — — — — (1 ) — — (7 ) — Corporate and other debt securities 5 — — — — — — — (5 ) — Total securities AFS 72 — — — — (3 ) — — (69 ) — LHFI 196 (3 ) 2 — — — (26 ) — 1 — 168 1 Includes issuances, fair value changes, and expirations. Amount related to residential IRLC s is recognized in Mortgage production related income, amount related to commercial IRLC s is recognized in Commercial real estate related income, and amount related to Visa derivative liability is recognized in Other noninterest expense. Included $10 million and $7 million in earnings during the three and nine months ended September 30, 2018 , respectively, related to changes in unrealized gains on net derivative instruments still held at September 30, 2018 . 2 Amounts are generally included in Mortgage production related income; however, the mark on certain fair value loans is included in Other noninterest income. Included $0 and $4 million in earnings during the three and nine months ended September 30, 2018 , respectively, related to changes in unrealized losses on LHFI still held at September 30, 2018 . Fair Value Measurements Using Significant Unobservable Inputs (Dollars in millions) Beginning Included OCI Purchases Sales Settlements Transfers to/from Other Balance Sheet Line Items Transfers Transfers Fair Value Assets Trading assets: Derivative instruments, net $4 $52 1 $— $— $— $1 ($51 ) $— $— $6 Securities AFS: U.S. states and political subdivisions — — — — — — — — — — MBS - non-agency residential 67 — 1 2 — — (6 ) — — — 62 ABS 9 — — — — (1 ) — — — 8 Corporate and other debt securities 5 — — — — — — — — 5 Total securities AFS 81 — 1 2 — — (7 ) — — — 75 Residential LHFS 2 — — — (2 ) (1 ) (1 ) 3 — 1 LHFI 214 — 3 — — — (9 ) 1 — — 206 Fair Value Measurements Using Significant Unobservable Inputs (Dollars in millions) Beginning Included OCI Purchases Sales Settlements Transfers to/from Other Balance Sheet Line Items Transfers Transfers Fair Value Assets Trading assets: Derivative instruments, net $6 $157 1 $— $— $— $— ($157 ) $— $— $6 Securities AFS: U.S. states and political subdivisions 4 — — — — (4 ) — — — — MBS - non-agency residential 74 — 1 2 — — (13 ) — — — 62 ABS 10 — — — — (2 ) — — — 8 Corporate and other debt securities 5 — — — — — — — — 5 Total securities AFS 93 — 1 2 — — (19 ) — — — 75 Residential LHFS 12 — — — (22 ) (1 ) (3 ) 17 (2 ) 1 LHFI 222 1 3 — — — (24 ) 3 4 — 206 1 Includes issuances, fair value changes, and expirations. Amount related to residential IRLC s is recognized in Mortgage production related income, amount related to commercial IRLC s is recognized in Commercial real estate related income, and amount related to Visa derivative liability is recognized in Other noninterest expense. Included $19 million and $17 million in earnings during the three and nine months ended September 30, 2017 , respectively, related to changes in unrealized gains on net derivative instruments still held at September 30, 2017 . 2 Amounts recognized in OCI are included in change in net unrealized gains on securities AFS, net of tax. 3 Amounts are generally included in Mortgage production related income; however, the mark on certain fair value loans is included in Other noninterest income. Included $0 and $1 million in earnings during the three and nine months ended September 30, 2017 , respectively, related to changes in unrealized gains on LHFI still held at September 30, 2017 . |
Change in Carrying Value of Assets Measured at Fair Value on a Non-Recurring Basis | Fair Value Measurements (Losses)/Gains for the September 30, 2018 (Losses)/Gains for the Nine Months Ended September 30, 2018 (Dollars in millions) September 30, 2018 Level 1 Level 2 Level 3 LHFS $12 $— $12 $— $— $— LHFI 17 — — 17 — — OREO 22 — 1 21 (3 ) (4 ) Other assets 63 — 44 19 3 18 Fair Value Measurements Losses for the December 31, 2017 (Dollars in millions) December 31, 2017 Level 1 Level 2 Level 3 LHFS $13 $— $13 $— $— LHFI 49 — — 49 — OREO 24 — 1 23 (4 ) Other assets 53 — 4 49 (43 ) |
Carrying Amounts and Fair Values of the Company's Financial Instruments | September 30, 2018 Fair Value Measurements (Dollars in millions) Measurement Category Carrying Amount Fair Value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents Amortized cost $7,605 $7,605 $7,605 $— $— Trading assets and derivative instruments Fair value 5,676 5,676 638 5,026 12 Securities AFS Fair value 30,984 30,984 4,133 26,851 — LHFS Amortized cost 139 142 — 110 32 Fair value 1,822 1,822 — 1,822 — LHFI, net Amortized cost 145,424 144,480 — — 144,480 Fair value 168 168 — — 168 Other 1 Amortized cost 545 545 — — 545 Fair value 92 92 92 — — Financial liabilities: Consumer and other time deposits Amortized cost 15,166 14,889 — 14,889 — Brokered time deposits Amortized cost 662 738 — 738 — Fair value 384 384 — 384 — Short-term borrowings Amortized cost 7,940 7,940 — 7,940 — Long-term debt Amortized cost 14,054 14,125 — 12,396 1,729 Fair value 235 235 — 235 — Trading liabilities and derivative instruments Fair value 1,863 1,863 886 968 9 1 Other financial assets recorded at amortized cost consist of FHLB of Atlanta stock and Federal Reserve Bank of Atlanta stock. Other financial assets recorded at fair value consist of mutual fund investments and other equity securities with readily determinable fair values. December 31, 2017 Fair Value Measurements (Dollars in millions) Measurement Category Carrying Amount Fair Value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents Amortized cost $6,912 $6,912 $6,912 $— $— Trading assets and derivative instruments Fair value 5,093 5,093 608 4,469 16 Securities AFS Fair value 30,947 30,947 4,331 26,544 72 LHFS Amortized cost 713 716 — 662 54 Fair value 1,577 1,577 — 1,577 — LHFI, net Amortized cost 141,250 141,379 — — 141,379 Fair value 196 196 — — 196 Other 1 Amortized cost 418 418 — — 418 Fair value 56 56 56 — — Financial liabilities: Consumer and other time deposits Amortized cost 12,076 11,906 — 11,906 — Brokered time deposits Amortized cost 749 725 — 725 — Fair value 236 236 — 236 — Short-term borrowings Amortized cost 4,781 4,781 — 4,781 — Long-term debt Amortized cost 9,255 9,362 — 8,304 1,058 Fair value 530 530 — 530 — Trading liabilities and derivative instruments Fair value 1,283 1,283 769 498 16 1 Other financial assets recorded at amortized cost consist of FHLB of Atlanta stock and Federal Reserve Bank of Atlanta stock. Other financial assets recorded at fair value consist of mutual fund investments and other equity securities with readily determinable fair values. |
Business Segment Reporting Busi
Business Segment Reporting Business Segment Reporting (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Segment Reporting [Abstract] | |
Business Segment Reporting [Table Text Block] | Three Months Ended September 30, 2018 (Dollars in millions) Consumer Wholesale Corporate Other Reconciling Consolidated Balance Sheets: Average LHFI $75,414 $70,485 $96 $— $145,995 Average consumer and commercial deposits 111,930 47,773 212 (567 ) 159,348 Average total assets 86,112 84,766 35,612 905 207,395 Average total liabilities 112,879 54,284 16,481 (524 ) 183,120 Average total equity — — — 24,275 24,275 Statements of Income: Net interest income $1,079 $550 ($49 ) ($68 ) $1,512 FTE adjustment — 22 1 (1 ) 22 Net interest income-FTE 1 1,079 572 (48 ) (69 ) 1,534 Provision for credit losses 2 36 25 — — 61 Net interest income after provision for credit losses-FTE 1,043 547 (48 ) (69 ) 1,473 Total noninterest income 445 373 10 (46 ) 782 Total noninterest expense 994 433 (38 ) (5 ) 1,384 Income before provision for income taxes-FTE 494 487 — (110 ) 871 Provision for income taxes-FTE 3 113 115 (52 ) (59 ) 117 Net income including income attributable to noncontrolling interest 381 372 52 (51 ) 754 Net income attributable to noncontrolling interest — — 2 — 2 Net income $381 $372 $50 ($51 ) $752 1 Presented on a matched maturity funds transfer price basis for the segments. 2 Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances. 3 Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals. Three Months Ended September 30, 2017 1, 2 (Dollars in millions) Consumer Wholesale Corporate Other Reconciling Consolidated Balance Sheets: Average LHFI $74,742 $68,568 $1,399 ($3 ) $144,706 Average consumer and commercial deposits 109,774 49,515 189 (59 ) 159,419 Average total assets 84,345 82,573 36,286 2,534 205,738 Average total liabilities 110,713 55,054 15,406 (8 ) 181,165 Average total equity — — — 24,573 24,573 Statements of Income: Net interest income $999 $511 ($5 ) ($75 ) $1,430 FTE adjustment — 36 1 — 37 Net interest income-FTE 3 999 547 (4 ) (75 ) 1,467 Provision/(benefit) for credit losses 4 140 (19 ) — (1 ) 120 Net interest income after provision/(benefit) for credit losses-FTE 859 566 (4 ) (74 ) 1,347 Total noninterest income 482 397 19 (52 ) 846 Total noninterest expense 927 421 48 (5 ) 1,391 Income before provision for income taxes-FTE 414 542 (33 ) (121 ) 802 Provision for income taxes-FTE 5 150 201 (18 ) (71 ) 262 Net income including income attributable to noncontrolling interest 264 341 (15 ) (50 ) 540 Net income attributable to noncontrolling interest — — 2 — 2 Net income $264 $341 ($17 ) ($50 ) $538 1 During the second quarter of 2018, certain of the Company's business banking clients were transferred from the Wholesale business segment to the Consumer business segment. For all periods prior to the second quarter of 2018, the corresponding financial results have been transferred to the Consumer business segment for comparability purposes. 2 During the fourth quarter of 2017, the Company sold PAC , the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC 's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC. 3 Presented on a matched maturity funds transfer price basis for the segments. 4 Provision/(benefit) for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision/(benefit) attributable to quarterly changes in the ALLL and unfunded commitment reserve balances. 5 Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals. Nine Months Ended September 30, 2018 (Dollars in millions) Consumer Wholesale Corporate Other Reconciling Consolidated Balance Sheets: Average LHFI $75,122 $69,155 $93 ($2 ) $144,368 Average consumer and commercial deposits 111,025 48,259 205 (330 ) 159,159 Average total assets 85,124 83,001 35,563 1,682 205,370 Average total liabilities 111,928 54,383 15,038 (303 ) 181,046 Average total equity — — — 24,324 24,324 Statements of Income: Net interest income $3,144 $1,605 ($120 ) ($189 ) $4,440 FTE adjustment — 63 2 — 65 Net interest income-FTE 1 3,144 1,668 (118 ) (189 ) 4,505 Provision for credit losses 2 101 19 — 1 121 Net interest income after provision for credit losses-FTE 3,043 1,649 (118 ) (190 ) 4,384 Total noninterest income 1,349 1,124 50 (115 ) 2,408 Total noninterest expense 2,995 1,307 (95 ) (16 ) 4,191 Income before provision for income taxes-FTE 1,397 1,466 27 (289 ) 2,601 Provision for income taxes-FTE 3 316 346 (29 ) (156 ) 477 Net income including income attributable to noncontrolling interest 1,081 1,120 56 (133 ) 2,124 Less: Net income attributable to noncontrolling interest — — 7 — 7 Net income $1,081 $1,120 $49 ($133 ) $2,117 1 Presented on a matched maturity funds transfer price basis for the segments. 2 Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances. 3 Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals. Nine Months Ended September 30, 2017 1, 2 (Dollars in millions) Consumer Wholesale Corporate Other Reconciling Consolidated Balance Sheets: Average LHFI $73,613 $69,303 $1,362 ($2 ) $144,276 Average consumer and commercial deposits 109,301 49,724 149 (29 ) 159,145 Average total assets 83,310 82,916 35,903 2,704 204,833 Average total liabilities 110,264 55,322 15,110 6 180,702 Average total equity — — — 24,131 24,131 Statements of Income: Net interest income $2,915 $1,490 $29 ($235 ) $4,199 FTE adjustment — 105 2 — 107 Net interest income-FTE 3 2,915 1,595 31 (235 ) 4,306 Provision for credit losses 4 310 19 — 1 330 Net interest income after provision for credit losses-FTE 2,605 1,576 31 (236 ) 3,976 Total noninterest income 1,427 1,169 59 (135 ) 2,520 Total noninterest expense 2,939 1,284 34 (14 ) 4,243 Income before provision for income taxes-FTE 1,093 1,461 56 (357 ) 2,253 Provision for income taxes-FTE 5 395 544 (11 ) (215 ) 713 Net income including income attributable to noncontrolling interest 698 917 67 (142 ) 1,540 Less: Net income attributable to noncontrolling interest — — 7 — 7 Net income $698 $917 $60 ($142 ) $1,533 1 During the second quarter of 2018, certain of the Company's business banking clients were transferred from the Wholesale business segment to the Consumer business segment. For all periods prior to the second quarter of 2018, the corresponding financial results have been transferred to the Consumer business segment for comparability purposes. 2 During the fourth quarter of 2017, the Company sold PAC , the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC 's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC. 3 Presented on a matched maturity funds transfer price basis for the segments. 4 Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances. 5 Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals. |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Changes in the components of AOCI, net of tax, are presented in the following table: (Dollars in millions) Securities AFS Derivative Instruments Brokered Time Deposits Long-Term Debt Employee Benefit Plans Total Three Months Ended September 30, 2018 Balance, beginning of period ($519 ) ($459 ) ($1 ) ($2 ) ($698 ) ($1,679 ) Net unrealized losses arising during the period (178 ) (37 ) — — — (215 ) Amounts reclassified to net income — 17 — — 3 20 Other comprehensive (loss)/income, net of tax (178 ) (20 ) — — 3 (195 ) Balance, end of period ($697 ) ($479 ) ($1 ) ($2 ) ($695 ) ($1,874 ) Three Months Ended September 30, 2017 Balance, beginning of period ($5 ) ($168 ) ($1 ) ($7 ) ($596 ) ($777 ) Net unrealized gains arising during the period 40 6 — 1 — 47 Amounts reclassified to net income — (8 ) — — 3 (5 ) Other comprehensive income/(loss), net of tax 40 (2 ) — 1 3 42 Balance, end of period $35 ($170 ) ($1 ) ($6 ) ($593 ) ($735 ) Nine Months Ended September 30, 2018 Balance, beginning of period ($1 ) ($244 ) ($1 ) ($4 ) ($570 ) ($820 ) Cumulative effect adjustment related to ASU adoption 1 30 (56 ) — (1 ) (127 ) (154 ) Net unrealized (losses)/gains arising during the period (725 ) (209 ) — 3 (7 ) (938 ) Amounts reclassified to net income (1 ) 30 — — 9 38 Other comprehensive (loss)/income, net of tax (726 ) (179 ) — 3 2 (900 ) Balance, end of period ($697 ) ($479 ) ($1 ) ($2 ) ($695 ) ($1,874 ) Nine Months Ended September 30, 2017 Balance, beginning of period ($62 ) ($157 ) ($1 ) ($7 ) ($594 ) ($821 ) Net unrealized gains/(losses) arising during the period 98 38 — 1 (9 ) 128 Amounts reclassified to net income (1 ) (51 ) — — 10 (42 ) Other comprehensive income/(loss), net of tax 97 (13 ) — 1 1 86 Balance, end of period $35 ($170 ) ($1 ) ($6 ) ($593 ) ($735 ) 1 Related to the Company's adoption of ASU 2018-02 on January 1, 2018. See Note 1 , "Significant Accounting Policies," for additional information. |
Schedule of Reclassifications from AOCI [Table Text Block] | Reclassifications from AOCI to Net income, and the related tax effects, are presented in the following table: (Dollars in millions) Three Months Ended September 30 Nine Months Ended September 30 Impacted Line Item in the Consolidated Statements of Income Details About AOCI Components 2018 2017 2018 2017 Securities AFS: Net realized gains on securities AFS $— $— ($1 ) ($1 ) Net securities gains Tax effect — — — — Provision for income taxes — — (1 ) (1 ) Derivative Instruments: Net realized losses/(gains) on cash flow hedges 22 (13 ) 39 (81 ) Interest and fees on loans held for investment Tax effect (5 ) 5 (9 ) 30 Provision for income taxes 17 (8 ) 30 (51 ) Employee Benefit Plans: Amortization of prior service credit (2 ) (1 ) (5 ) (4 ) Employee benefits Amortization of actuarial loss 6 6 17 18 Employee benefits 4 5 12 14 Tax effect (1 ) (2 ) (3 ) (4 ) Provision for income taxes 3 3 9 10 Total reclassifications from AOCI to net income $20 ($5 ) $38 ($42 ) |
Significant Accounting Polici_3
Significant Accounting Policies Significant Accounting Policies Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | |
Significant Accounting Policies [Line Items] | |||
Sale Leaseback Transaction, Deferred Gain, Gross | $ 44 | $ 44 | |
Maximum [Member] | |||
Significant Accounting Policies [Line Items] | |||
Operating Leases, Future Minimum Payments Due, Future Minimum Sublease Rentals | 1,500 | 1,500 | |
Minimum [Member] | |||
Significant Accounting Policies [Line Items] | |||
Operating Leases, Future Minimum Payments Due, Future Minimum Sublease Rentals | 1,000 | 1,000 | |
Cash Premiums Paid on BOLI/COLI [Member] [Member] | |||
Significant Accounting Policies [Line Items] | |||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 201 | $ 127 | |
Stranded Tax Effects in AOCI, Gross Portion [Member] | |||
Significant Accounting Policies [Line Items] | |||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 182 | ||
Stranded Tax Effects in AOCI, Offset Portion [Member] | |||
Significant Accounting Policies [Line Items] | |||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 28 | ||
Stranded Tax Effects in AOCI [Member] | |||
Significant Accounting Policies [Line Items] | |||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 154 | ||
ASU 2014-09 Revenue from Contracts with Customers - Impact on Noninterest Income [Domain] | |||
Significant Accounting Policies [Line Items] | |||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 9 | (16) | |
ASU 2014-09 Revenue from Contracts with Customers - Impact on Noninterest Expense [Domain] | |||
Significant Accounting Policies [Line Items] | |||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ 9 | $ (16) |
Revenue Recognition (Details)
Revenue Recognition (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||||||
Disaggregation of Revenue [Line Items] | |||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 508 | $ 530 | $ 1,514 | $ 1,571 | |||||
Fees and Commissions, Mortgage Banking and Servicing | 43 | [1] | 46 | [2] | 138 | [3] | 148 | [4] | |
Investment Banking Revenue | [5] | 150 | [1] | 169 | [2] | 453 | [3] | 501 | [4] |
Trading Gain (Loss) | 42 | [1] | 51 | [2] | 137 | [3] | 148 | [4] | |
commercial real estate related income | 24 | [1] | 17 | [2] | 66 | [3] | 61 | [4] | |
Debt and Equity Securities, Gain (Loss) | 0 | [1] | 0 | [2] | 1 | [3] | 1 | [4] | |
Noninterest Income, Other Operating Income | 21 | [1] | 25 | [2] | 108 | [3] | 76 | [4] | |
Noninterest Income | 782 | [1] | 846 | [2],[6],[7] | 2,408 | [3] | 2,520 | [4],[8],[9] | |
Contract with Customer, Performance Obligation Satisfied in Previous Period | 12 | 38 | |||||||
Deposit Account [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Revenues | 144 | [1] | 154 | [2] | 433 | [3] | 453 | [4] | |
Financial Service, Other [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Revenues | [5] | 89 | [1] | 89 | [2] | 264 | [3] | 270 | [4] |
Credit and Debit Card [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Revenues | 75 | [1] | 86 | [2] | 241 | [3] | 255 | [4] | |
Fiduciary and Trust [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Revenues | 80 | [1] | 79 | [2] | 230 | [3] | 229 | [4] | |
Investment Advisory, Management and Administrative Service [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Revenues | 74 | [1] | 69 | [2] | 219 | [3] | 208 | [4] | |
Mortgage Banking [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Revenues | 40 | [1] | 61 | [2] | 118 | [3] | 170 | [4] | |
Excluded from Scope of ASC 606 - Consumer [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Noninterest Income | 100 | 123 | 313 | 365 | |||||
Excluded from Scope of ASC 606 - Wholesale [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Noninterest Income | 210 | 226 | 646 | 660 | |||||
Excluded from Scope of ASC 606 - Corporate Other [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Noninterest Income | 36 | 33 | 65 | 76 | |||||
In Scope of ASC 606 - Consumer [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Fees and Commissions, Mortgage Banking and Servicing | 0 | [1],[10] | 0 | [2],[11] | 0 | [3],[12] | 0 | [4],[13] | |
Investment Banking Revenue | 0 | [1],[10] | 0 | [2],[11] | 0 | [3],[12] | 0 | [4],[13] | |
Trading Gain (Loss) | 0 | [1],[10] | 0 | [2],[11] | 0 | [3],[12] | 0 | [4],[13] | |
commercial real estate related income | 0 | [1],[10] | 0 | [2],[11] | 0 | [3],[12] | 0 | [4],[13] | |
Debt and Equity Securities, Gain (Loss) | 0 | [1],[10] | 0 | [2],[11] | 0 | [3],[12] | 0 | [4],[13] | |
Noninterest Income, Other Operating Income | 5 | [1],[10] | 6 | [2],[11] | 17 | [3],[12] | 20 | [4],[13] | |
Noninterest Income | 345 | [1],[10] | 359 | [2],[11] | 1,036 | [3],[12] | 1,062 | [4],[13] | |
In Scope of ASC 606 - Consumer [Member] | Deposit Account [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Revenues | 111 | [1],[10] | 119 | [2],[11] | 330 | [3],[12] | 344 | [4],[13] | |
In Scope of ASC 606 - Consumer [Member] | Financial Service, Other [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Revenues | 28 | [1],[10] | 29 | [2],[11] | 85 | [3],[12] | 93 | [4],[13] | |
In Scope of ASC 606 - Consumer [Member] | Credit and Debit Card [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Revenues | 49 | [1],[10] | 58 | [2],[11] | 160 | [3],[12] | 172 | [4],[13] | |
In Scope of ASC 606 - Consumer [Member] | Fiduciary and Trust [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Revenues | 79 | [1],[10] | 78 | [2],[11] | 228 | [3],[12] | 227 | [4],[13] | |
In Scope of ASC 606 - Consumer [Member] | Investment Advisory, Management and Administrative Service [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Revenues | 73 | [1],[10] | 69 | [2],[11] | 216 | [3],[12] | 206 | [4],[13] | |
In Scope of ASC 606 - Consumer [Member] | Mortgage Banking [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Revenues | 0 | [1],[10] | 0 | [2],[11] | 0 | [3],[12] | 0 | [4],[13] | |
In Scope of ASC 606 - Wholesale [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Fees and Commissions, Mortgage Banking and Servicing | 0 | [1],[10] | 0 | [2],[11] | 0 | [3],[12] | 0 | [4],[13] | |
Investment Banking Revenue | 101 | [1],[10] | 106 | [2],[11] | 287 | [3],[12] | 309 | [4],[13] | |
Trading Gain (Loss) | 0 | [1],[10] | 0 | [2],[11] | 0 | [3],[12] | 0 | [4],[13] | |
commercial real estate related income | 0 | [1],[10] | 0 | [2],[11] | 0 | [3],[12] | 0 | [4],[13] | |
Debt and Equity Securities, Gain (Loss) | 0 | [1],[10] | 0 | [2],[11] | 0 | [3],[12] | 0 | [4],[13] | |
Noninterest Income, Other Operating Income | 0 | [1],[10] | 0 | [2],[11] | 0 | [3],[12] | 0 | [4],[13] | |
Noninterest Income | 163 | [1],[10] | 171 | [2],[11] | 478 | [3],[12] | 509 | [4],[13] | |
In Scope of ASC 606 - Wholesale [Member] | Deposit Account [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Revenues | 33 | [1],[10] | 35 | [2],[11] | 103 | [3],[12] | 109 | [4],[13] | |
In Scope of ASC 606 - Wholesale [Member] | Financial Service, Other [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Revenues | 3 | [1],[10] | 3 | [2],[11] | 8 | [3],[12] | 9 | [4],[13] | |
In Scope of ASC 606 - Wholesale [Member] | Credit and Debit Card [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Revenues | 26 | [1],[10] | 27 | [2],[11] | 78 | [3],[12] | 81 | [4],[13] | |
In Scope of ASC 606 - Wholesale [Member] | Fiduciary and Trust [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Revenues | 0 | [1],[10] | 0 | [2],[11] | 0 | [3],[12] | 0 | [4],[13] | |
In Scope of ASC 606 - Wholesale [Member] | Investment Advisory, Management and Administrative Service [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Revenues | 0 | [1],[10] | 0 | [2],[11] | 2 | [3],[12] | 1 | [4],[13] | |
In Scope of ASC 606 - Wholesale [Member] | Mortgage Banking [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Revenues | 0 | [1],[10] | 0 | [2],[11] | 0 | [3],[12] | 0 | [4],[13] | |
Excluded from Scope of ASC 606 [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Fees and Commissions, Mortgage Banking and Servicing | 43 | [1],[10],[14] | 46 | [2],[11],[15] | 138 | [3],[12],[16] | 148 | [4],[13],[17] | |
Investment Banking Revenue | 49 | [1],[10],[14] | 63 | [2],[11],[15] | 166 | [3],[12],[16] | 192 | [4],[13],[17] | |
Trading Gain (Loss) | 42 | [1],[10],[14] | 51 | [2],[11],[15] | 137 | [3],[12],[16] | 148 | [4],[13],[17] | |
commercial real estate related income | 24 | [1],[10],[14] | 17 | [2],[11],[15] | 66 | [3],[12],[16] | 61 | [4],[13],[17] | |
Debt and Equity Securities, Gain (Loss) | 0 | [1],[10],[14] | 0 | [2],[11],[15] | 1 | [3],[12],[16] | 1 | [4],[13],[17] | |
Noninterest Income, Other Operating Income | 16 | [1],[10],[14] | 19 | [2],[11],[15] | 91 | [3],[12],[16] | 56 | [4],[13],[17] | |
Noninterest Income | 274 | [1],[10],[14] | 316 | [2],[11],[15] | 894 | [3],[12],[16] | 949 | [4],[13],[17] | |
Excluded from Scope of ASC 606 [Member] | Deposit Account [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Revenues | 0 | [1],[10],[14] | 0 | [2],[11],[15] | 0 | [3],[12],[16] | 0 | [4],[13],[17] | |
Excluded from Scope of ASC 606 [Member] | Financial Service, Other [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Revenues | 58 | [1],[10],[14] | 57 | [2],[11],[15] | 171 | [3],[12],[16] | 168 | [4],[13],[17] | |
Excluded from Scope of ASC 606 [Member] | Credit and Debit Card [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Revenues | 0 | [1],[10],[14] | 1 | [2],[11],[15] | 3 | [3],[12],[16] | 2 | [4],[13],[17] | |
Excluded from Scope of ASC 606 [Member] | Fiduciary and Trust [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Revenues | 1 | [1],[10],[14] | 1 | [2],[11],[15] | 2 | [3],[12],[16] | 2 | [4],[13],[17] | |
Excluded from Scope of ASC 606 [Member] | Investment Advisory, Management and Administrative Service [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Revenues | 1 | [1],[10],[14] | 0 | [2],[11],[15] | 1 | [3],[12],[16] | 1 | [4],[13],[17] | |
Excluded from Scope of ASC 606 [Member] | Mortgage Banking [Member] | |||||||||
Disaggregation of Revenue [Line Items] | |||||||||
Revenues | $ 40 | [1],[10],[14] | $ 61 | [2],[11],[15] | $ 118 | [3],[12],[16] | $ 170 | [4],[13],[17] | |
[1] | Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers, except for out of scope amounts. | ||||||||
[2] | Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition, and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers. | ||||||||
[3] | Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers, except for out of scope amounts. | ||||||||
[4] | Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition, and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers. | ||||||||
[5] | Beginning July 1, 2018, the Company began presenting bridge commitment fee income related to capital market transactions in Investment banking income on the Consolidated Statements of Income. For periods prior to July 1, 2018, this income was previously presented in Other charges and fees and has been reclassified to Investment banking income for comparability. | ||||||||
[6] | During the fourth quarter of 2017, the Company sold PAC, the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC. | ||||||||
[7] | During the second quarter of 2018, certain of the Company's business banking clients were transferred from the Wholesale business segment to the Consumer business segment. For all periods prior to the second quarter of 2018, the corresponding financial results have been transferred to the Consumer business segment for comparability purposes. | ||||||||
[8] | During the fourth quarter of 2017, the Company sold PAC, the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC. | ||||||||
[9] | During the second quarter of 2018, certain of the Company's business banking clients were transferred from the Wholesale business segment to the Consumer business segment. For all periods prior to the second quarter of 2018, the corresponding financial results have been transferred to the Consumer business segment for comparability purposes. | ||||||||
[10] | Consumer total noninterest income and Wholesale total noninterest income exclude $100 million and $210 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 18, "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($36) million of Corporate Other noninterest income that is not subject to ASC Topic 606. | ||||||||
[11] | Consumer total noninterest income and Wholesale total noninterest income exclude $123 million and $226 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 18, "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($33) million of Corporate Other noninterest income that is not subject to ASC Topic 606. | ||||||||
[12] | Consumer total noninterest income and Wholesale total noninterest income exclude $313 million and $646 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 18, "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($65) million of Corporate Other noninterest income that is not subject to ASC Topic 606. | ||||||||
[13] | Consumer total noninterest income and Wholesale total noninterest income exclude $365 million and $660 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 18, "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($76) million of Corporate Other noninterest income that is not subject to ASC Topic 606. | ||||||||
[14] | The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income. | ||||||||
[15] | The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income. | ||||||||
[16] | The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income. | ||||||||
[17] | The Company presents out of scope noninterest income for the purpose of reconciling noninterest income amounts within the scope of ASC Topic 606 to noninterest income amounts presented on the Company's Consolidated Statements of Income. |
Federal Funds Sold and Securi_3
Federal Funds Sold and Securities Financing Activities - Additional Information (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Securities Purchased under Agreements to Resell [Abstract] | ||
Federal Funds Sold | $ 46 | $ 65 |
Fair Value of Securities Received as Collateral that Can be Resold or Repledged | 1,300 | 1,500 |
Fair Value of Securities Received as Collateral that Have Been Resold or Repledged | $ 112 | $ 177 |
Schedule of Resale Agreements (
Schedule of Resale Agreements (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Securities Purchased under Agreements to Resell [Abstract] | ||
Federal Funds Sold | $ 46 | $ 65 |
Securities Borrowed | 429 | 298 |
Securities Purchased under Agreements to Resell | 899 | 1,175 |
Federal Funds Sold and Securities Purchased under Agreements to Resell | $ 1,374 | $ 1,538 |
Federal Funds Sold and Securi_4
Federal Funds Sold and Securities Financing Activities Securities Sold Under Agreements to Repurchase (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | $ 1,730 | $ 1,503 |
US Treasury Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 142 | 95 |
US Government Agencies Debt Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 107 | 116 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 920 | 829 |
Commercial Paper [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 19 | 19 |
Corporate Debt Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 542 | 444 |
Maturity Overnight [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 1,330 | 1,225 |
Maturity Overnight [Member] | US Treasury Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 119 | 95 |
Maturity Overnight [Member] | US Government Agencies Debt Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 64 | 101 |
Maturity Overnight [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 772 | 694 |
Maturity Overnight [Member] | Commercial Paper [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 19 | 19 |
Maturity Overnight [Member] | Corporate Debt Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 356 | 316 |
Maturity up to 30 days [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 360 | 238 |
Maturity up to 30 days [Member] | US Treasury Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 23 | 0 |
Maturity up to 30 days [Member] | US Government Agencies Debt Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 43 | 15 |
Maturity up to 30 days [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 148 | 135 |
Maturity up to 30 days [Member] | Commercial Paper [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 0 | 0 |
Maturity up to 30 days [Member] | Corporate Debt Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 146 | 88 |
Maturity 30 to 90 Days [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 40 | 40 |
Maturity 30 to 90 Days [Member] | US Treasury Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 0 | 0 |
Maturity 30 to 90 Days [Member] | US Government Agencies Debt Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 0 | 0 |
Maturity 30 to 90 Days [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 0 | 0 |
Maturity 30 to 90 Days [Member] | Commercial Paper [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 0 | 0 |
Maturity 30 to 90 Days [Member] | Corporate Debt Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | $ 40 | $ 40 |
Federal Funds Sold and Securi_5
Federal Funds Sold and Securities Financing Activities Netting of Financial Instruments - Repurchase Agreements (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | |
Assets Sold under Agreements to Repurchase [Line Items] | |||
Carrying Value of Securities Purchased under Agreements to Resell and Deposits Paid for Securities Borrowed | $ 1,328 | $ 1,473 | |
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell, Fair Value Disclosure | [1] | 1,328 | 1,473 |
Securities Purchased under Agreements to Resell, Fair Value of Collateral | 1,309 | 1,462 | |
Securities Purchased under Agreements to Resell, Not Subject to Master Netting Arrangement | 19 | 11 | |
Securities Borrowed or Purchased Under Agreements to Resell, Amount Not Offset Against Collateral | 0 | 0 | |
Securities Sold under Agreements to Repurchase, Gross | 1,730 | 1,503 | |
Securities Sold under Agreements to Repurchase | 1,730 | 1,503 | |
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Securities | 1,730 | 1,503 | |
Securities Sold under Agreements to Repurchase, Not Subject to Master Netting Arrangement | 0 | 0 | |
Securities Sold Under Agreements to Repurchase, Amount Not Offset Against Collateral | $ 0 | $ 0 | |
[1] | Excludes $46 million and $65 million of Fed Funds sold, which are not subject to a master netting agreement at September 30, 2018 and December 31, 2017, respectively. |
Trading Securities (Detail)
Trading Securities (Detail) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | |
Debt and Equity Securities, FV-NI [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | [1] | $ 5,676 | $ 5,093 |
Trading liabilities | 1,863 | 1,283 | |
US Treasury Securities [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 247 | 157 | |
Trading liabilities | 742 | 577 | |
US Government Agencies Debt Securities [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 507 | 395 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 91 | 61 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 743 | 700 | |
Corporate Debt Securities [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 820 | 655 | |
Trading liabilities | 411 | 289 | |
Commercial Paper [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 408 | 118 | |
Equity Securities [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 67 | 56 | |
Trading liabilities | 12 | 9 | |
Derivative Financial Instruments, Assets [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | [2] | 622 | 802 |
Loans [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | [3] | 2,171 | 2,149 |
Derivative Financial Instruments, Liabilities [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Trading liabilities | [2] | $ 698 | $ 408 |
[1] | Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,362 million and $1,086 million at September 30, 2018 and December 31, 2017, respectively. | ||
[2] | Amounts include the impact of offsetting cash collateral received from and paid to the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. | ||
[3] | Includes loans related to TRS. |
Schedule of Financial Instrumen
Schedule of Financial Instruments Owned and Pledged as Collateral (Detail) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Amount of Repurchase Agreements Secured by Trading Assets | $ 1,238 | $ 975 | |
Trading Assets [Member] | Repurchase Agreements [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Security Owned and Pledged as Collateral, Fair Value | [1] | 1,284 | 1,016 |
Trading Assets [Member] | Derivative [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Security Owned and Pledged as Collateral, Fair Value | 76 | 72 | |
Trading Assets [Member] | Equity Trading [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Security Owned and Pledged as Collateral, Fair Value | $ 40 | $ 41 | |
[1] | Repurchase agreements secured by collateral totaled $1.2 billion and $975 million at September 30, 2018 and December 31, 2017, respectively. |
Securities Available for Sale_2
Securities Available for Sale (Detail) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Dec. 31, 2017 | |||
Debt Securities, Available-for-sale [Line Items] | ||||
Amortized Cost | $ 31,902 | $ 30,913 | [1] | |
Unrealized Gains | 117 | 250 | [1] | |
Unrealized Losses | 1,035 | 216 | [1] | |
Available-for-sale Securities | [2],[3] | 30,984 | 30,947 | [1] |
Debt Securities, Held-to-maturity, Fair Value | 0 | 0 | ||
US Treasury Securities [Member] | ||||
Debt Securities, Available-for-sale [Line Items] | ||||
Amortized Cost | 4,275 | 4,361 | ||
Unrealized Gains | 0 | 2 | ||
Unrealized Losses | 142 | 32 | ||
Available-for-sale Securities | 4,133 | 4,331 | ||
US Government Agencies Debt Securities [Member] | ||||
Debt Securities, Available-for-sale [Line Items] | ||||
Amortized Cost | 224 | 257 | ||
Unrealized Gains | 2 | 3 | ||
Unrealized Losses | 3 | 1 | ||
Available-for-sale Securities | 223 | 259 | ||
US States and Political Subdivisions Debt Securities [Member] | ||||
Debt Securities, Available-for-sale [Line Items] | ||||
Amortized Cost | 621 | 618 | ||
Unrealized Gains | 3 | 7 | ||
Unrealized Losses | 22 | 8 | ||
Available-for-sale Securities | 602 | 617 | ||
Asset-backed Securities [Member] | ||||
Debt Securities, Available-for-sale [Line Items] | ||||
Amortized Cost | 6 | |||
Unrealized Gains | 2 | |||
Unrealized Losses | 0 | |||
Available-for-sale Securities | 8 | |||
Other Debt Obligations [Member] | ||||
Debt Securities, Available-for-sale [Line Items] | ||||
Amortized Cost | 14 | 17 | ||
Unrealized Gains | 0 | 0 | ||
Unrealized Losses | 0 | 0 | ||
Available-for-sale Securities | 14 | 17 | ||
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||||
Debt Securities, Available-for-sale [Line Items] | ||||
Amortized Cost | 2,713 | 2,121 | ||
Unrealized Gains | 1 | 3 | ||
Unrealized Losses | 112 | 38 | ||
Available-for-sale Securities | 2,602 | 2,086 | ||
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||||
Debt Securities, Available-for-sale [Line Items] | ||||
Amortized Cost | 943 | 862 | ||
Unrealized Gains | 0 | 7 | ||
Unrealized Losses | 38 | 3 | ||
Available-for-sale Securities | 905 | 866 | ||
Residential Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||||
Debt Securities, Available-for-sale [Line Items] | ||||
Amortized Cost | 23,112 | 22,616 | ||
Unrealized Gains | 111 | 222 | ||
Unrealized Losses | 718 | 134 | ||
Available-for-sale Securities | $ 22,505 | 22,704 | ||
Residential Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||||
Debt Securities, Available-for-sale [Line Items] | ||||
Amortized Cost | 55 | |||
Unrealized Gains | 4 | |||
Unrealized Losses | 0 | |||
Available-for-sale Securities | $ 59 | |||
[1] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information. | |||
[2] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets. Reclassifications have been made to previously reported amounts for comparability. | |||
[3] | Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $164 million and $223 million at September 30, 2018 and December 31, 2017, respectively. |
Securities Available for Sale_3
Securities Available for Sale (Addition Information) (Detail) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | |||
Debt Securities, Available-for-sale [Line Items] | |||||
Available-for-sale Securities | [1],[2] | $ 30,984 | $ 30,947 | [3] | |
Federal Home Loan Bank (FHLB) of Atlanta stock (par value) | [4],[5] | 142 | 15 | ||
Federal Reserve Bank Stock | [4],[5] | 403 | 403 | ||
Mutual Fund Investments | [4],[5] | 65 | 49 | ||
Fair Value, Inputs, Level 3 [Member] | |||||
Debt Securities, Available-for-sale [Line Items] | |||||
Available-for-sale Securities | 0 | 72 | |||
Fair Value, Measurements, Recurring [Member] | |||||
Debt Securities, Available-for-sale [Line Items] | |||||
Available-for-sale Securities | 30,984 | [6] | 30,947 | [7] | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Debt Securities, Available-for-sale [Line Items] | |||||
Available-for-sale Securities | $ 0 | [6] | $ 72 | [7] | |
[1] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets. Reclassifications have been made to previously reported amounts for comparability. | ||||
[2] | Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $164 million and $223 million at September 30, 2018 and December 31, 2017, respectively. | ||||
[3] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information. | ||||
[4] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. | ||||
[5] | Equity securities held for trading purposes are classified in Trading assets and derivative instruments or Trading liabilities and derivative instruments on the Company's Consolidated Balance Sheets. | ||||
[6] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information. | ||||
[7] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information. |
Interest and dividends on SAFS
Interest and dividends on SAFS (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Debt Securities, Available-for-sale [Line Items] | |||||
Interest Income, Securities, Taxable | $ 207 | $ 187 | $ 614 | $ 551 | |
Interest Income, Securities, Tax Exempt | 5 | 4 | 14 | 9 | |
Interest and Dividend Income, Securities, Available-for-sale | [1],[2] | $ 212 | $ 191 | $ 628 | $ 560 |
[1] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets and began presenting income associated with certain of these equity securities in Trading account interest and other on the Consolidated Statements of Income. For periods prior to January 1, 2018, this income was previously presented in Interest on securities available for sale and has been reclassified to Trading account interest and other for comparability. | ||||
[2] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets and began presenting income associated with certain of these equity securities in Trading account interest and other. For periods prior to January 1, 2018, this income was previously presented in Interest on securities available for sale and has been reclassified to Trading account interest and other for comparability. |
Securities Available for Sale -
Securities Available for Sale - Additional Information (Detail) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | ||
Debt Securities, Available-for-sale [Line Items] | ||||
Debt Securities, Available-for-sale, Restricted | $ 3,400 | $ 4,300 | ||
Available-for-sale Securities | [1],[2] | $ 30,984 | $ 30,947 | [3] |
[1] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets. Reclassifications have been made to previously reported amounts for comparability. | |||
[2] | Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $164 million and $223 million at September 30, 2018 and December 31, 2017, respectively. | |||
[3] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information. |
Amortized Cost and Fair Value o
Amortized Cost and Fair Value of Investments in Debt Securities by Estimated Average Life (Detail) $ in Millions | Sep. 30, 2018USD ($) | |
Distribution of Maturities: Amortized Cost, 1 Year or Less | $ 1,751 | |
Distribution of Maturities: Amortized Cost, 1-5 Years | 9,776 | |
Distribution of Maturities: Amortized Cost, 5-10 Years | 19,202 | |
Distribution of Maturities: Amortized Cost, After 10 Years | 1,173 | |
Distribution of Maturities: Amortized Cost, Total | 31,902 | |
Distribution of Maturities: Fair Value, 1 Year or Less | 1,807 | |
Distribution of Maturities: Fair Value, 1-5 Years | 9,533 | |
Distribution of Maturities: Fair Value, 5-10 Years | 18,518 | |
Distribution of Maturities: Fair Value, After 10 Years | 1,126 | |
Distribution of Maturities: Fair Value, Total | $ 30,984 | |
Available For Sale Securities Debt Maturities, Yield, One Year Or Less | 3.22% | [1] |
Available For Sale Securities Debt Maturities, Yield, After One Through Five Years | 2.38% | [1] |
Available For Sale Securities Debt Maturities, Yield, After Five Through Ten Years | 2.94% | [1] |
Available For Sale Securities Debt Maturities, Yield, After Ten Years | 3.12% | [1] |
Available For Sale Securities Debt Maturities, Yield | 2.79% | [1] |
US Treasury Securities [Member] | ||
Distribution of Maturities: Amortized Cost, 1 Year or Less | $ 15 | |
Distribution of Maturities: Amortized Cost, 1-5 Years | 2,695 | |
Distribution of Maturities: Amortized Cost, 5-10 Years | 1,565 | |
Distribution of Maturities: Amortized Cost, After 10 Years | 0 | |
Distribution of Maturities: Amortized Cost, Total | 4,275 | |
Distribution of Maturities: Fair Value, 1 Year or Less | 15 | |
Distribution of Maturities: Fair Value, 1-5 Years | 2,615 | |
Distribution of Maturities: Fair Value, 5-10 Years | 1,503 | |
Distribution of Maturities: Fair Value, After 10 Years | 0 | |
Distribution of Maturities: Fair Value, Total | 4,133 | |
US Government Agencies Debt Securities [Member] | ||
Distribution of Maturities: Amortized Cost, 1 Year or Less | 113 | |
Distribution of Maturities: Amortized Cost, 1-5 Years | 28 | |
Distribution of Maturities: Amortized Cost, 5-10 Years | 8 | |
Distribution of Maturities: Amortized Cost, After 10 Years | 75 | |
Distribution of Maturities: Amortized Cost, Total | 224 | |
Distribution of Maturities: Fair Value, 1 Year or Less | 114 | |
Distribution of Maturities: Fair Value, 1-5 Years | 28 | |
Distribution of Maturities: Fair Value, 5-10 Years | 8 | |
Distribution of Maturities: Fair Value, After 10 Years | 73 | |
Distribution of Maturities: Fair Value, Total | 223 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Distribution of Maturities: Amortized Cost, 1 Year or Less | 3 | |
Distribution of Maturities: Amortized Cost, 1-5 Years | 72 | |
Distribution of Maturities: Amortized Cost, 5-10 Years | 25 | |
Distribution of Maturities: Amortized Cost, After 10 Years | 521 | |
Distribution of Maturities: Amortized Cost, Total | 621 | |
Distribution of Maturities: Fair Value, 1 Year or Less | 3 | |
Distribution of Maturities: Fair Value, 1-5 Years | 75 | |
Distribution of Maturities: Fair Value, 5-10 Years | 25 | |
Distribution of Maturities: Fair Value, After 10 Years | 499 | |
Distribution of Maturities: Fair Value, Total | 602 | |
Other Debt Obligations [Member] | ||
Distribution of Maturities: Amortized Cost, 1 Year or Less | 0 | |
Distribution of Maturities: Amortized Cost, 1-5 Years | 14 | |
Distribution of Maturities: Amortized Cost, 5-10 Years | 0 | |
Distribution of Maturities: Amortized Cost, After 10 Years | 0 | |
Distribution of Maturities: Amortized Cost, Total | 14 | |
Distribution of Maturities: Fair Value, 1 Year or Less | 0 | |
Distribution of Maturities: Fair Value, 1-5 Years | 14 | |
Distribution of Maturities: Fair Value, 5-10 Years | 0 | |
Distribution of Maturities: Fair Value, After 10 Years | 0 | |
Distribution of Maturities: Fair Value, Total | 14 | |
Residential Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Distribution of Maturities: Amortized Cost, 1 Year or Less | 1,619 | |
Distribution of Maturities: Amortized Cost, 1-5 Years | 6,488 | |
Distribution of Maturities: Amortized Cost, 5-10 Years | 14,736 | |
Distribution of Maturities: Amortized Cost, After 10 Years | 269 | |
Distribution of Maturities: Amortized Cost, Total | 23,112 | |
Distribution of Maturities: Fair Value, 1 Year or Less | 1,674 | |
Distribution of Maturities: Fair Value, 1-5 Years | 6,341 | |
Distribution of Maturities: Fair Value, 5-10 Years | 14,230 | |
Distribution of Maturities: Fair Value, After 10 Years | 260 | |
Distribution of Maturities: Fair Value, Total | 22,505 | |
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Distribution of Maturities: Amortized Cost, 1 Year or Less | 1 | |
Distribution of Maturities: Amortized Cost, 1-5 Years | 467 | |
Distribution of Maturities: Amortized Cost, 5-10 Years | 1,937 | |
Distribution of Maturities: Amortized Cost, After 10 Years | 308 | |
Distribution of Maturities: Amortized Cost, Total | 2,713 | |
Distribution of Maturities: Fair Value, 1 Year or Less | 1 | |
Distribution of Maturities: Fair Value, 1-5 Years | 448 | |
Distribution of Maturities: Fair Value, 5-10 Years | 1,859 | |
Distribution of Maturities: Fair Value, After 10 Years | 294 | |
Distribution of Maturities: Fair Value, Total | 2,602 | |
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Distribution of Maturities: Amortized Cost, 1 Year or Less | 0 | |
Distribution of Maturities: Amortized Cost, 1-5 Years | 12 | |
Distribution of Maturities: Amortized Cost, 5-10 Years | 931 | |
Distribution of Maturities: Amortized Cost, After 10 Years | 0 | |
Distribution of Maturities: Amortized Cost, Total | 943 | |
Distribution of Maturities: Fair Value, 1 Year or Less | 0 | |
Distribution of Maturities: Fair Value, 1-5 Years | 12 | |
Distribution of Maturities: Fair Value, 5-10 Years | 893 | |
Distribution of Maturities: Fair Value, After 10 Years | 0 | |
Distribution of Maturities: Fair Value, Total | $ 905 | |
[1] | Weighted average yields are based on amortized cost and presented on an FTE basis. |
Securities with Unrealized Loss
Securities with Unrealized Losses (Detail) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | |||
Investments, Unrealized Loss Position [Line Items] | |||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 14,937 | [1] | $ 11,409 | [2],[3] | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 415 | [1],[4] | 63 | [2],[3],[5] | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 12,345 | [1] | 6,736 | [2],[3] | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 620 | [1],[4] | 153 | [2],[3],[5] | |
Total, Fair Value | 27,282 | [1] | 18,145 | [2],[3] | |
Total, Unrealized Losses | 1,035 | [1],[4] | 216 | [2],[3],[5] | |
Other Than Temporarily Impaired Securities [Member] | |||||
Investments, Unrealized Loss Position [Line Items] | |||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | [1] | 0 | [3] | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | [1],[4] | 0 | [3],[5] | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | [1] | 1 | [3] | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | [1],[4] | 0 | [3],[5] | |
Total, Fair Value | 0 | [1] | 1 | [3] | |
Total, Unrealized Losses | 0 | [1],[4] | 0 | [3],[5] | |
Other Than Temporarily Impaired Securities [Member] | Asset-backed Securities [Member] | |||||
Investments, Unrealized Loss Position [Line Items] | |||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | [3] | 0 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | [3],[5] | 0 | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | [3] | 1 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | [3],[5] | 0 | |||
Total, Fair Value | [3] | 1 | |||
Total, Unrealized Losses | [3],[5] | 0 | |||
Temporarily Impaired Securities [Member] | |||||
Investments, Unrealized Loss Position [Line Items] | |||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 14,937 | 11,409 | [2] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 415 | [4] | 63 | [2],[5] | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 12,345 | 6,735 | [2] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 620 | [4] | 153 | [2],[5] | |
Total, Fair Value | 27,282 | 18,144 | [2] | ||
Total, Unrealized Losses | 1,035 | [4] | 216 | [2],[5] | |
Temporarily Impaired Securities [Member] | US Treasury Securities [Member] | |||||
Investments, Unrealized Loss Position [Line Items] | |||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 2,554 | 1,993 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 77 | [4] | 12 | [5] | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 1,579 | 841 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 65 | [4] | 20 | [5] | |
Total, Fair Value | 4,133 | 2,834 | |||
Total, Unrealized Losses | 142 | [4] | 32 | [5] | |
Temporarily Impaired Securities [Member] | US Government Agencies Debt Securities [Member] | |||||
Investments, Unrealized Loss Position [Line Items] | |||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 16 | 23 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | [4] | 0 | [5] | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 62 | 60 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 3 | [4] | 1 | [5] | |
Total, Fair Value | 78 | 83 | |||
Total, Unrealized Losses | 3 | [4] | 1 | [5] | |
Temporarily Impaired Securities [Member] | US States and Political Subdivisions Debt Securities [Member] | |||||
Investments, Unrealized Loss Position [Line Items] | |||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 210 | 267 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 7 | [4] | 3 | [5] | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 280 | 114 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 15 | [4] | 5 | [5] | |
Total, Fair Value | 490 | 381 | |||
Total, Unrealized Losses | 22 | [4] | 8 | [5] | |
Temporarily Impaired Securities [Member] | Asset-backed Securities [Member] | |||||
Investments, Unrealized Loss Position [Line Items] | |||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | ||||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | [5] | 0 | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 4 | ||||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | [5] | 0 | |||
Total, Fair Value | 4 | ||||
Total, Unrealized Losses | [5] | 0 | |||
Temporarily Impaired Securities [Member] | Other Debt Obligations [Member] | |||||
Investments, Unrealized Loss Position [Line Items] | |||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | 10 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | [4] | 0 | [5] | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 9 | 0 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | [4] | 0 | [5] | |
Total, Fair Value | 9 | 10 | |||
Total, Unrealized Losses | 0 | [4] | 0 | [5] | |
Temporarily Impaired Securities [Member] | Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||||
Investments, Unrealized Loss Position [Line Items] | |||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 1,029 | 887 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 25 | [4] | 9 | [5] | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 1,519 | 915 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 87 | [4] | 29 | [5] | |
Total, Fair Value | 2,548 | 1,802 | |||
Total, Unrealized Losses | 112 | [4] | 38 | [5] | |
Temporarily Impaired Securities [Member] | Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | |||||
Investments, Unrealized Loss Position [Line Items] | |||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 781 | 134 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 30 | [4] | 1 | [5] | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 124 | 93 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 8 | [4] | 2 | [5] | |
Total, Fair Value | 905 | 227 | |||
Total, Unrealized Losses | 38 | [4] | 3 | [5] | |
Temporarily Impaired Securities [Member] | Residential Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||||
Investments, Unrealized Loss Position [Line Items] | |||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 10,347 | 8,095 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 276 | [4] | 38 | [5] | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 8,772 | 4,708 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 442 | [4] | 96 | [5] | |
Total, Fair Value | 19,119 | 12,803 | |||
Total, Unrealized Losses | $ 718 | [4] | $ 134 | [5] | |
[1] | OTTI securities AFS are impaired securities for which OTTI credit losses have been previously recognized in earnings. | ||||
[2] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. | ||||
[3] | OTTI securities AFS are impaired securities for which OTTI credit losses have been previously recognized in earnings. | ||||
[4] | Unrealized losses less than $0.5 million are presented as zero within the table. | ||||
[5] | Unrealized losses less than $0.5 million are presented as zero within the table. |
Gross Realized Gains and Losses
Gross Realized Gains and Losses on Sales and OTTI on Securities Available for Sale (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||||||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | [7] | ||||||
Available-for-sale Securities, Gross Realized Gains | $ 0 | $ 1 | $ 7 | $ 2 | |||||||
Available-for-sale Securities, Gross Realized Losses | 0 | (1) | (6) | (1) | |||||||
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Period Increase (Decrease) | 0 | 0 | 0 | 0 | |||||||
Debt and Equity Securities, Gain (Loss) | 0 | [1] | $ 0 | [2] | 1 | [3] | $ 1 | [4] | |||
Available-for-sale Securities | [5],[6] | $ 30,984 | $ 30,984 | $ 30,947 | |||||||
[1] | Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers, except for out of scope amounts. | ||||||||||
[2] | Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition, and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers. | ||||||||||
[3] | Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers, except for out of scope amounts. | ||||||||||
[4] | Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition, and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers. | ||||||||||
[5] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets. Reclassifications have been made to previously reported amounts for comparability. | ||||||||||
[6] | Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $164 million and $223 million at September 30, 2018 and December 31, 2017, respectively. | ||||||||||
[7] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information. |
OTTI Losses on Available for Sa
OTTI Losses on Available for Sale Securities (Detail) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | [3] | Sep. 30, 2017 | |
Available-for-sale Securities | [1],[2] | $ 30,984 | $ 30,947 | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held | $ 0 | $ 22 | |||
[1] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets. Reclassifications have been made to previously reported amounts for comparability. | ||||
[2] | Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $164 million and $223 million at September 30, 2018 and December 31, 2017, respectively. | ||||
[3] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information. |
Rollforward of Credit Losses Re
Rollforward of Credit Losses Recognized in Earnings Related to Securities (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | [3] | ||
Debt Securities, Available-for-sale [Line Items] | |||||||
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Reductions, Securities Sold | $ (23) | ||||||
Available-for-sale Securities, Gross Realized Gains | $ 0 | $ 1 | 7 | $ 2 | |||
Available-for-sale Securities | [1],[2] | 30,984 | 30,984 | $ 30,947 | |||
Ending balance | 0 | 22 | 0 | 22 | |||
Available-for-sale Securities, Gross Realized Losses | 0 | $ 1 | 6 | $ 1 | |||
Gains on sale of OTTI securities | $ 6 | $ 6 | |||||
[1] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets. Reclassifications have been made to previously reported amounts for comparability. | ||||||
[2] | Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $164 million and $223 million at September 30, 2018 and December 31, 2017, respectively. | ||||||
[3] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information. |
Significant Inputs Considered i
Significant Inputs Considered in Determining the Measurement of Credit Losses Recognized in Earnings for Securities (Detail) $ in Millions | Sep. 30, 2018USD ($) |
Investment [Line Items] | |
Debt Securities, Available-for-sale | $ 30,984 |
Loans - Additional Information
Loans - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Other Real Estate | [1] | $ 52 | $ 52 | $ 57 | ||
Transfer of Portfolio Loans and Leases to Held-for-sale | 122 | $ 91 | 449 | $ 218 | ||
Transfer of Loans Held-for-sale to Portfolio Loans | 5 | 6 | 23 | 16 | ||
Financing Receivable, Significant Sales | 14 | 285 | 187 | 513 | ||
Long-term Debt | [2] | 14,289 | 14,289 | 9,785 | ||
Other Short-term Borrowings | 2,856 | 2,856 | 717 | |||
Letters of Credit Outstanding, Amount | 4,300 | 4,300 | 6,700 | |||
Loans held for investment | [3] | 147,215 | 147,215 | 143,181 | ||
Finance Leases Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans held for investment | $ 3,824 | $ 3,824 | $ 3,693 | |||
Federal National Mortgage Association (FNMA) Insured Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Percentage of Loan Portfolio Current | 28.00% | 28.00% | 28.00% | |||
Loans held for investment | $ 452 | $ 452 | $ 560 | |||
Government Guarantee Percent | 1.00% | 1.00% | 1.00% | |||
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Significant Purchases | $ 433 | $ 333 | $ 1,440 | 1,400 | ||
Percentage of Loan Portfolio Current | 74.00% | 74.00% | 75.00% | |||
Loans held for investment | $ 7,039 | $ 7,039 | $ 6,633 | |||
Consumer Indirect [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Significant Purchases | 213 | 229 | $ 99 | |||
Loans held for investment | 12,010 | 12,010 | 12,140 | |||
Residential Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Other Real Estate | 49 | 49 | 51 | |||
Loans held for investment | $ 38,505 | $ 38,505 | $ 38,620 | |||
Percentage of Loans Held for Investment | 26.00% | 26.00% | 27.00% | |||
Commercial Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Other Real Estate | $ 2 | $ 2 | $ 4 | |||
Loans held for investment | 77,958 | 77,958 | 75,477 | |||
Geographic Distribution, Foreign [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans held for investment | 1,400 | 1,400 | 1,385 | |||
Home Equity Line of Credit [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans held for investment | [4] | 9,669 | 9,669 | 10,626 | ||
Minimum [Member] | Commercial Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans And Leases Receivable Individually Evaluated For Impairment | 3 | 3 | 3 | |||
Home Equity Line of Credit [Member] | Credit Concentration Risk [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Unused Commitments to Extend Credit | 10,200 | 10,200 | 10,100 | |||
Mortgage Loans on Real Estate [Member] | Credit Concentration Risk [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Unused Commitments to Extend Credit | 3,800 | 3,800 | 3,000 | |||
Federal Home Loan Bank Advances [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Long-term Debt | 3,003 | 3,003 | 4 | |||
Federal Reserve Bank Advances [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans Pledged as Collateral | 26,100 | 26,100 | 24,300 | |||
Line of Credit Facility, Remaining Borrowing Capacity | 19,800 | 19,800 | 18,200 | |||
Federal Home Loan Bank Advances [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans Pledged as Collateral | 39,400 | 39,400 | 38,000 | |||
Line of Credit Facility, Remaining Borrowing Capacity | $ 31,500 | $ 31,500 | $ 30,500 | |||
[1] | Does not include foreclosed real estate related to loans insured by the FHA or guaranteed by the VA. Proceeds due from the FHA and the VA are recorded as a receivable in Other assets in the Consolidated Balance Sheets until the property is conveyed and the funds are received. The receivable related to proceeds due from the FHA and the VA totaled $49 million and $45 million at September 30, 2018 and December 31, 2017, respectively. | |||||
[2] | Includes debt of consolidated VIEs of $168 million and $189 million at September 30, 2018 and December 31, 2017, respectively. | |||||
[3] | Includes loans of consolidated VIEs of $159 million and $179 million at September 30, 2018 and December 31, 2017, respectively. | |||||
[4] | Excludes $7.0 billion and $6.6 billion of guaranteed student loans and $452 million and $560 million of guaranteed residential mortgages at September 30, 2018 and December 31, 2017, respectively, for which there was nominal risk of principal loss due to the government guarantee. |
Composition of the Company's Lo
Composition of the Company's Loan Portfolio (Detail) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [1] | $ 147,215 | $ 143,181 | ||
Loans Held for Sale | [2] | 1,961 | 2,290 | ||
Commercial and Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [3] | 68,203 | 66,356 | ||
Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 6,618 | 5,317 | |||
Commercial Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 3,137 | 3,804 | |||
Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 77,958 | 75,477 | |||
Federal National Mortgage Association (FNMA) Insured Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 452 | 560 | |||
Residential Nonguaranteed [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [4],[5] | 28,187 | [6] | 27,136 | [7] |
Home Equity Line of Credit [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [4] | 9,669 | 10,626 | ||
Residential Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [4] | 197 | 298 | ||
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 7,039 | 6,633 | |||
Consumer Other Direct [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 10,100 | 8,729 | |||
Consumer Indirect [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 12,010 | 12,140 | |||
Credit Card Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 1,603 | 1,582 | |||
Consumer Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | $ 69,257 | $ 67,704 | |||
[1] | Includes loans of consolidated VIEs of $159 million and $179 million at September 30, 2018 and December 31, 2017, respectively. | ||||
[2] | Includes $1.8 billion and $1.6 billion of LHFS measured at fair value at September 30, 2018 and December 31, 2017, respectively. | ||||
[3] | Includes $3.8 billion and $3.7 billion of lease financing, and $838 million and $778 million of installment loans at September 30, 2018 and December 31, 2017, respectively. | ||||
[4] | Excludes $7.0 billion and $6.6 billion of guaranteed student loans and $452 million and $560 million of guaranteed residential mortgages at September 30, 2018 and December 31, 2017, respectively, for which there was nominal risk of principal loss due to the government guarantee. | ||||
[5] | Includes $168 million and $196 million of LHFI measured at fair value at September 30, 2018 and December 31, 2017, respectively. | ||||
[6] | Includes $168 million of loans measured at fair value, the majority of which were accruing current. | ||||
[7] | Includes $196 million of loans measured at fair value, the majority of which were accruing current. |
Composition of the Company's _2
Composition of the Company's Loan Portfolio (Additional Information) (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross | [1] | $ 147,215 | $ 147,215 | $ 143,181 | ||
Loans Receivable, Fair Value Disclosure | 168 | 168 | 196 | |||
Loans Held-for-sale, Fair Value Disclosure | 1,822 | 1,822 | 1,577 | |||
Transfer of Portfolio Loans and Leases to Held-for-sale | 122 | $ 91 | 449 | $ 218 | ||
Transfer of Loans Held-for-sale to Portfolio Loans | 5 | 6 | 23 | 16 | ||
Financing Receivable, Significant Sales | 14 | 285 | 187 | 513 | ||
Consumer Indirect [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross | 12,010 | 12,010 | 12,140 | |||
Financing Receivable, Significant Purchases | 213 | 229 | 99 | |||
Finance Leases Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross | 3,824 | 3,824 | 3,693 | |||
Installment Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross | 838 | 838 | 778 | |||
Consumer Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross | 69,257 | 69,257 | 67,704 | |||
Loans Receivable, Fair Value Disclosure | $ 168 | $ 168 | $ 196 | |||
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Percentage of Loan Portfolio Current | 74.00% | 74.00% | 75.00% | |||
Loans and Leases Receivable, Gross | $ 7,039 | $ 7,039 | $ 6,633 | |||
Financing Receivable, Significant Purchases | $ 433 | $ 333 | $ 1,440 | $ 1,400 | ||
[1] | Includes loans of consolidated VIEs of $159 million and $179 million at September 30, 2018 and December 31, 2017, respectively. |
LHFI by Credit Quality Indicato
LHFI by Credit Quality Indicator (Detail) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [1] | $ 147,215 | $ 143,181 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | [3] | 695 | [2] | 674 | [4] |
Commercial and Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [5] | 68,203 | 66,356 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 256 | [2] | 215 | [4] | |
Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 6,618 | 5,317 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 43 | [2] | 24 | [4] | |
Commercial Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 3,137 | 3,804 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | [2] | 1 | [4] | |
Residential Nonguaranteed [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [6],[7] | 28,187 | [8] | 27,136 | [9] |
Financing Receivable, Recorded Investment, Nonaccrual Status | 225 | [2],[8] | 206 | [4],[9] | |
Home Equity Line of Credit [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [6] | 9,669 | 10,626 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 149 | [2] | 203 | [4] | |
Residential Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [6] | 197 | 298 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 9 | [2] | 11 | [4] | |
Consumer Other Direct [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 10,100 | 8,729 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 7 | [2] | 7 | [4] | |
Consumer Indirect [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 12,010 | 12,140 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 6 | [2] | 7 | [4] | |
Credit Card Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 1,603 | 1,582 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | [2] | 0 | [4] | |
Pass | Commercial and Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 66,224 | 64,546 | |||
Pass | Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 6,418 | 5,126 | |||
Pass | Commercial Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 3,038 | 3,770 | |||
Criticized Accruing | Commercial and Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 1,723 | 1,595 | |||
Criticized Accruing | Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 157 | 167 | |||
Criticized Accruing | Commercial Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 99 | 33 | |||
FICO Score 700 and Above [Member] | Residential Nonguaranteed [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [6] | 24,968 | 23,602 | ||
FICO Score 700 and Above [Member] | Home Equity Line of Credit [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [6] | 8,208 | 8,946 | ||
FICO Score 700 and Above [Member] | Residential Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [6] | 163 | 240 | ||
FICO Score 700 and Above [Member] | Consumer Other Direct [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 9,197 | 7,929 | |||
FICO Score 700 and Above [Member] | Consumer Indirect [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 8,967 | 9,094 | |||
FICO Score 700 and Above [Member] | Credit Card Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 1,084 | 1,088 | |||
FICO Score Between 620 and 699 | Residential Nonguaranteed [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [6] | 2,499 | 2,721 | ||
FICO Score Between 620 and 699 | Home Equity Line of Credit [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [6] | 1,046 | 1,242 | ||
FICO Score Between 620 and 699 | Residential Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [6] | 27 | 50 | ||
FICO Score Between 620 and 699 | Consumer Other Direct [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 866 | 757 | |||
FICO Score Between 620 and 699 | Consumer Indirect [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 2,321 | 2,344 | |||
FICO Score Between 620 and 699 | Credit Card Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 401 | 395 | |||
FICO Score Below 620 | Residential Nonguaranteed [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [6],[10] | 720 | 813 | ||
FICO Score Below 620 | Home Equity Line of Credit [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [6],[10] | 415 | 438 | ||
FICO Score Below 620 | Residential Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [6],[10] | 7 | 8 | ||
FICO Score Below 620 | Consumer Other Direct [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [10] | 37 | 43 | ||
FICO Score Below 620 | Consumer Indirect [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [10] | 722 | 702 | ||
FICO Score Below 620 | Credit Card Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [10] | $ 118 | $ 99 | ||
[1] | Includes loans of consolidated VIEs of $159 million and $179 million at September 30, 2018 and December 31, 2017, respectively. | ||||
[2] | Includes nonaccruing LHFI past due 90 days or more of $348 million. Nonaccruing LHFI past due fewer than 90 days include nonaccrual loans modified in TDRs, performing second lien loans where the first lien loan is nonperforming, and certain energy-related commercial loans. | ||||
[3] | Nonaccruing restructured loans are included in total nonaccrual loans/NPLs. | ||||
[4] | Includes nonaccruing LHFI past due 90 days or more of $357 million. Nonaccruing LHFI past due fewer than 90 days include nonaccrual loans modified in TDRs, performing second lien loans where the first lien loan is nonperforming, and certain energy-related commercial loans. | ||||
[5] | Includes $3.8 billion and $3.7 billion of lease financing, and $838 million and $778 million of installment loans at September 30, 2018 and December 31, 2017, respectively. | ||||
[6] | Excludes $7.0 billion and $6.6 billion of guaranteed student loans and $452 million and $560 million of guaranteed residential mortgages at September 30, 2018 and December 31, 2017, respectively, for which there was nominal risk of principal loss due to the government guarantee. | ||||
[7] | Includes $168 million and $196 million of LHFI measured at fair value at September 30, 2018 and December 31, 2017, respectively. | ||||
[8] | Includes $168 million of loans measured at fair value, the majority of which were accruing current. | ||||
[9] | Includes $196 million of loans measured at fair value, the majority of which were accruing current. | ||||
[10] | For substantially all loans with refreshed FICO scores below 620, the borrower’s FICO score at the time of origination exceeded 620 but has since deteriorated as the loan has seasoned. |
LHFI by Credit Quality Indica_2
LHFI by Credit Quality Indicator (Additional Information) (Detail) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Gross | [1] | $ 147,215 | $ 143,181 |
Federal National Mortgage Association (FNMA) Insured Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Gross | 452 | 560 | |
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Gross | $ 7,039 | $ 6,633 | |
[1] | Includes loans of consolidated VIEs of $159 million and $179 million at September 30, 2018 and December 31, 2017, respectively. |
Payment Status for the LHFI Por
Payment Status for the LHFI Portfolio (Detail) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | $ 143,950 | $ 139,956 | |||
Accruing 30-89 Days Past Due | 1,088 | 1,146 | |||
Accruing 90+ Days Past Due | 1,482 | 1,405 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | [2] | 695 | [1] | 674 | [3] |
Total | [4] | 147,215 | 143,181 | ||
Commercial and Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 67,897 | 66,092 | |||
Accruing 30-89 Days Past Due | 40 | 42 | |||
Accruing 90+ Days Past Due | 10 | 7 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 256 | [1] | 215 | [3] | |
Total | [5] | 68,203 | 66,356 | ||
Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 6,572 | 5,293 | |||
Accruing 30-89 Days Past Due | 2 | 0 | |||
Accruing 90+ Days Past Due | 1 | 0 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 43 | [1] | 24 | [3] | |
Total | 6,618 | 5,317 | |||
Commercial Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 3,137 | 3,803 | |||
Accruing 30-89 Days Past Due | 0 | 0 | |||
Accruing 90+ Days Past Due | 0 | 0 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | [1] | 1 | [3] | |
Total | 3,137 | 3,804 | |||
Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 77,606 | 75,188 | |||
Accruing 30-89 Days Past Due | 42 | 42 | |||
Accruing 90+ Days Past Due | 11 | 7 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 299 | [1] | 240 | [3] | |
Total | 77,958 | 75,477 | |||
Federal National Mortgage Association (FNMA) Insured Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 127 | 159 | |||
Accruing 30-89 Days Past Due | 38 | 55 | |||
Accruing 90+ Days Past Due | 287 | 346 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | [1] | 0 | [3] | |
Total | 452 | 560 | |||
Residential Nonguaranteed [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 27,880 | [6] | 26,778 | [7] | |
Accruing 30-89 Days Past Due | 73 | [6] | 148 | [7] | |
Accruing 90+ Days Past Due | 9 | [6] | 4 | [7] | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 225 | [1],[6] | 206 | [3],[7] | |
Total | [8],[9] | 28,187 | [6] | 27,136 | [7] |
Home Equity Line of Credit [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 9,449 | 10,348 | |||
Accruing 30-89 Days Past Due | 70 | 75 | |||
Accruing 90+ Days Past Due | 1 | 0 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 149 | [1] | 203 | [3] | |
Total | [8] | 9,669 | 10,626 | ||
Residential Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 185 | 280 | |||
Accruing 30-89 Days Past Due | 1 | 7 | |||
Accruing 90+ Days Past Due | 2 | 0 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 9 | [1] | 11 | [3] | |
Total | [8] | 197 | 298 | ||
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 5,175 | 4,946 | |||
Accruing 30-89 Days Past Due | 711 | 659 | |||
Accruing 90+ Days Past Due | 1,153 | 1,028 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | [1],[10] | 0 | [3],[11] | |
Total | 7,039 | 6,633 | |||
Consumer Other Direct [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 10,050 | 8,679 | |||
Accruing 30-89 Days Past Due | 39 | 36 | |||
Accruing 90+ Days Past Due | 4 | 7 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 7 | [1] | 7 | [3] | |
Total | 10,100 | 8,729 | |||
Consumer Indirect [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 11,905 | 12,022 | |||
Accruing 30-89 Days Past Due | 99 | 111 | |||
Accruing 90+ Days Past Due | 0 | 0 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 6 | [1] | 7 | [3] | |
Total | 12,010 | 12,140 | |||
Credit Card Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 1,573 | 1,556 | |||
Accruing 30-89 Days Past Due | 15 | 13 | |||
Accruing 90+ Days Past Due | 15 | 13 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | [1] | 0 | [3] | |
Total | 1,603 | 1,582 | |||
Consumer Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 66,344 | 64,768 | |||
Accruing 30-89 Days Past Due | 1,046 | 1,104 | |||
Accruing 90+ Days Past Due | 1,471 | 1,398 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 396 | [1] | 434 | [3] | |
Total | $ 69,257 | $ 67,704 | |||
[1] | Includes nonaccruing LHFI past due 90 days or more of $348 million. Nonaccruing LHFI past due fewer than 90 days include nonaccrual loans modified in TDRs, performing second lien loans where the first lien loan is nonperforming, and certain energy-related commercial loans. | ||||
[2] | Nonaccruing restructured loans are included in total nonaccrual loans/NPLs. | ||||
[3] | Includes nonaccruing LHFI past due 90 days or more of $357 million. Nonaccruing LHFI past due fewer than 90 days include nonaccrual loans modified in TDRs, performing second lien loans where the first lien loan is nonperforming, and certain energy-related commercial loans. | ||||
[4] | Includes loans of consolidated VIEs of $159 million and $179 million at September 30, 2018 and December 31, 2017, respectively. | ||||
[5] | Includes $3.8 billion and $3.7 billion of lease financing, and $838 million and $778 million of installment loans at September 30, 2018 and December 31, 2017, respectively. | ||||
[6] | Includes $168 million of loans measured at fair value, the majority of which were accruing current. | ||||
[7] | Includes $196 million of loans measured at fair value, the majority of which were accruing current. | ||||
[8] | Excludes $7.0 billion and $6.6 billion of guaranteed student loans and $452 million and $560 million of guaranteed residential mortgages at September 30, 2018 and December 31, 2017, respectively, for which there was nominal risk of principal loss due to the government guarantee. | ||||
[9] | Includes $168 million and $196 million of LHFI measured at fair value at September 30, 2018 and December 31, 2017, respectively. | ||||
[10] | Guaranteed loans are not placed on nonaccruing regardless of delinquency status because collection of principal and interest is reasonably assured by the government. | ||||
[11] | Guaranteed loans are not placed on nonaccruing regardless of delinquency status because collection of principal and interest is reasonably assured by the government. |
Payment Status for the LHFI P_2
Payment Status for the LHFI Portfolio (Additional Information) (Detail) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Financing Receivable, Impaired [Line Items] | ||
Loans Receivable, Fair Value Disclosure | $ 168 | $ 196 |
Nonaccruing 90 Plus Days Past Due | 348 | 357 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans Receivable, Fair Value Disclosure | $ 168 | $ 196 |
LHFI Considered Impaired (Detai
LHFI Considered Impaired (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | ||
Financing Receivable, Impaired [Line Items] | ||||||
Impaired Financing Receivable, Unpaid Principal Balance | $ 3,003 | $ 3,003 | $ 3,046 | |||
Impaired Financing Receivable, Recorded Investment | [1] | 2,747 | 2,747 | 2,821 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 192 | 192 | 204 | |||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 2,780 | $ 2,898 | 2,809 | $ 2,934 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | 30 | 31 | 94 | 94 | |
Commercial and Industrial [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 51 | 51 | 38 | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 32 | 32 | 35 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 189 | 189 | 127 | |||
Impaired Financing Receivable, Recorded Investment | [1] | 165 | 165 | 117 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 26 | 26 | 19 | |||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 44 | 70 | 45 | 81 | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | [2] | 0 | 0 | 1 | 0 | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 177 | 150 | 176 | 145 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | 0 | 0 | 3 | 2 | |
Commercial Real Estate [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 21 | 21 | 0 | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 20 | 20 | 0 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 25 | 25 | 21 | |||
Impaired Financing Receivable, Recorded Investment | [1] | 21 | 21 | 21 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 2 | 2 | 2 | |||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 20 | 0 | 20 | 0 | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 | 0 | 0 | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 21 | 0 | 22 | 0 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | 0 | 0 | 0 | 0 | |
Commercial Portfolio Segment [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 72 | 72 | 38 | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 52 | 52 | 35 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 214 | 214 | 148 | |||
Impaired Financing Receivable, Recorded Investment | [1] | 186 | 186 | 138 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 28 | 28 | 21 | |||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 64 | 70 | 65 | 81 | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | [2] | 0 | 0 | 1 | 0 | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 198 | 150 | 198 | 145 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | 0 | 0 | 3 | 2 | |
Residential Nonguaranteed [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 483 | 483 | 458 | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 378 | 378 | 363 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 1,049 | 1,049 | 1,133 | |||
Impaired Financing Receivable, Recorded Investment | [1] | 1,027 | 1,027 | 1,103 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 101 | 101 | 113 | |||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 381 | 364 | 386 | 361 | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | [2] | 4 | 4 | 11 | 11 | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 1,027 | 1,135 | 1,031 | 1,146 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | 13 | 14 | 39 | 45 | |
Home Equity Line of Credit [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
Impaired Financing Receivable, Unpaid Principal Balance | 873 | 873 | 953 | |||
Impaired Financing Receivable, Recorded Investment | [1] | 821 | 821 | 895 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 49 | 49 | 54 | |||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 824 | 890 | 833 | 901 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | 9 | 8 | 27 | 24 | |
Residential Construction [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 12 | 12 | 15 | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 6 | 6 | 9 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 83 | 83 | 93 | |||
Impaired Financing Receivable, Recorded Investment | [1] | 81 | 81 | 90 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 6 | 6 | 7 | |||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 7 | 9 | 7 | 9 | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | [2] | 0 | 0 | 0 | 0 | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 80 | 96 | 82 | 98 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | 1 | 2 | 4 | 4 | |
Consumer Other Direct [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
Impaired Financing Receivable, Unpaid Principal Balance | 57 | 57 | 59 | |||
Impaired Financing Receivable, Recorded Investment | [1] | 57 | 57 | 59 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 1 | 1 | 1 | |||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 57 | 58 | 58 | 59 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | 1 | 1 | 3 | 3 | |
Consumer Indirect [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
Impaired Financing Receivable, Unpaid Principal Balance | 131 | 131 | 123 | |||
Impaired Financing Receivable, Recorded Investment | [1] | 131 | 131 | 122 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 6 | 6 | 7 | |||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 134 | 120 | 141 | 128 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | 2 | 2 | 5 | 4 | |
Credit Card Receivable [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
Impaired Financing Receivable, Unpaid Principal Balance | 29 | 29 | 26 | |||
Impaired Financing Receivable, Recorded Investment | [1] | 8 | 8 | 7 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 1 | 1 | 1 | |||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 8 | 6 | 8 | 6 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | 0 | 0 | 1 | 1 | |
Consumer Portfolio Segment [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 495 | 495 | 473 | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 384 | 384 | 372 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 2,222 | 2,222 | 2,387 | |||
Impaired Financing Receivable, Recorded Investment | [1] | 2,125 | 2,125 | 2,276 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 164 | 164 | $ 183 | |||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 388 | 373 | 393 | 370 | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | [2] | 4 | 4 | 11 | 11 | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 2,130 | 2,305 | 2,153 | 2,338 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | $ 26 | $ 27 | $ 79 | $ 81 | |
[1] | Carrying value reflects charge-offs that have been recognized plus other amounts that have been applied to adjust the net book balance. | |||||
[2] | Of the interest income recognized during each of the three and nine months ended September 30, 2018 and 2017, cash basis interest income was immaterial. |
LHFI Considered Impaired (Addit
LHFI Considered Impaired (Additional Information) (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | ||||||
Financing Receivable, Impaired [Line Items] | ||||||||||
Loans and Leases Receivable, Gross | [1] | $ 147,215 | $ 147,215 | $ 143,181 | ||||||
Transfer of Loans Held-for-sale to Portfolio Loans | 5 | $ 6 | 23 | $ 16 | ||||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 55 | [2] | 102 | [3] | 230 | [4] | 362 | [5] | ||
Other Real Estate | [6] | 52 | 52 | 57 | ||||||
Accrual Loans [Member] | ||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||
Financing Receivable, Modifications, Recorded Investment | $ 2,300 | $ 2,300 | $ 2,400 | |||||||
Percentage Of Accruing Troubled Debt Restructurings, Current | 97.00% | 97.00% | 96.00% | |||||||
Proceeds due from FHA or VA [Member] | ||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||
Other Real Estate | $ 49 | $ 49 | $ 45 | |||||||
Consumer Other Direct [Member] | ||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||
Loans and Leases Receivable, Gross | 10,100 | 10,100 | $ 8,729 | |||||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 2 | [2] | $ 2 | [3] | $ 6 | [4] | $ 6 | [5] | ||
[1] | Includes loans of consolidated VIEs of $159 million and $179 million at September 30, 2018 and December 31, 2017, respectively. | |||||||||
[2] | Includes loans modified under the terms of a TDR that were charged-off during the period. | |||||||||
[3] | Includes loans modified under the terms of a TDR that were charged-off during the period. | |||||||||
[4] | Includes loans modified under the terms of a TDR that were charged-off during the period. | |||||||||
[5] | Includes loans modified under the terms of a TDR that were charged-off during the period. | |||||||||
[6] | Does not include foreclosed real estate related to loans insured by the FHA or guaranteed by the VA. Proceeds due from the FHA and the VA are recorded as a receivable in Other assets in the Consolidated Balance Sheets until the property is conveyed and the funds are received. The receivable related to proceeds due from the FHA and the VA totaled $49 million and $45 million at September 30, 2018 and December 31, 2017, respectively. |
Nonperforming Assets (Detail)
Nonperforming Assets (Detail) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | [2] | $ 695 | [1] | $ 674 | [3] |
OREO | [4] | 52 | 57 | ||
Other repossessed assets | 7 | 10 | |||
Total nonperforming assets | 754 | 741 | |||
Commercial and Industrial [Member] | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 256 | [1] | 215 | [3] | |
Commercial Real Estate [Member] | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 43 | [1] | 24 | [3] | |
Commercial Construction [Member] | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | [1] | 1 | [3] | |
Residential Nonguaranteed [Member] | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 225 | [1],[5] | 206 | [3],[6] | |
Home Equity Line of Credit [Member] | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 149 | [1] | 203 | [3] | |
Residential Construction [Member] | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 9 | [1] | 11 | [3] | |
Consumer Other Direct [Member] | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 7 | [1] | 7 | [3] | |
Consumer Indirect [Member] | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 6 | [1] | $ 7 | [3] | |
[1] | Includes nonaccruing LHFI past due 90 days or more of $348 million. Nonaccruing LHFI past due fewer than 90 days include nonaccrual loans modified in TDRs, performing second lien loans where the first lien loan is nonperforming, and certain energy-related commercial loans. | ||||
[2] | Nonaccruing restructured loans are included in total nonaccrual loans/NPLs. | ||||
[3] | Includes nonaccruing LHFI past due 90 days or more of $357 million. Nonaccruing LHFI past due fewer than 90 days include nonaccrual loans modified in TDRs, performing second lien loans where the first lien loan is nonperforming, and certain energy-related commercial loans. | ||||
[4] | Does not include foreclosed real estate related to loans insured by the FHA or guaranteed by the VA. Proceeds due from the FHA and the VA are recorded as a receivable in Other assets in the Consolidated Balance Sheets until the property is conveyed and the funds are received. The receivable related to proceeds due from the FHA and the VA totaled $49 million and $45 million at September 30, 2018 and December 31, 2017, respectively. | ||||
[5] | Includes $168 million of loans measured at fair value, the majority of which were accruing current. | ||||
[6] | Includes $196 million of loans measured at fair value, the majority of which were accruing current. |
Nonperforming Assets (Additiona
Nonperforming Assets (Additional Information) (Detail) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | |
Other Real Estate | [1] | $ 52 | $ 57 |
Accrual Loans [Member] | |||
Mortgage Loans in Process of Foreclosure, Amount | 108 | 101 | |
Proceeds due from FHA or VA [Member] | |||
Mortgage Loans in Process of Foreclosure, Amount | 100 | 97 | |
Other Real Estate | 49 | 45 | |
Nonaccrual loans [Member] | |||
Mortgage Loans in Process of Foreclosure, Amount | 89 | 73 | |
Residential Portfolio Segment [Member] | |||
Other Real Estate | 49 | 51 | |
Commercial Portfolio Segment [Member] | |||
Other Real Estate | 2 | 4 | |
Land and Land Improvements [Member] | |||
Other Real Estate | $ 1 | $ 2 | |
[1] | Does not include foreclosed real estate related to loans insured by the FHA or guaranteed by the VA. Proceeds due from the FHA and the VA are recorded as a receivable in Other assets in the Consolidated Balance Sheets until the property is conveyed and the funds are received. The receivable related to proceeds due from the FHA and the VA totaled $49 million and $45 million at September 30, 2018 and December 31, 2017, respectively. |
Loans TDR Modifications (Detail
Loans TDR Modifications (Details) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2018USD ($)contracts | [1] | Sep. 30, 2017USD ($)contracts | [2] | Sep. 30, 2018USD ($)contracts | Sep. 30, 2017USD ($)contracts | [4] | ||
Financing Receivable, Modifications [Line Items] | ||||||||
Financing Receivable, Restructured During Period, Number Of Contracts | contracts | 1,270 | 1,868 | 4,305 | [3] | 5,300 | |||
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted | $ 5 | $ 27 | $ 23 | [3] | $ 40 | |||
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted | 50 | 75 | 207 | [3] | 322 | |||
Financing Receivable, Amount Restructured During Period | $ 55 | $ 102 | $ 230 | [3] | $ 362 | |||
Commercial and Industrial [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Financing Receivable, Restructured During Period, Number Of Contracts | contracts | 47 | 76 | 122 | [3] | 136 | |||
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted | $ 0 | $ 2 | $ 0 | [3] | $ 2 | |||
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted | 16 | 7 | 75 | [3] | 86 | |||
Financing Receivable, Amount Restructured During Period | $ 16 | $ 9 | $ 75 | [3] | $ 88 | |||
Residential Nonguaranteed [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Financing Receivable, Restructured During Period, Number Of Contracts | contracts | 48 | 41 | 267 | [3] | 119 | |||
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted | $ 3 | $ 6 | $ 18 | [3] | $ 17 | |||
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted | 7 | 4 | 46 | [3] | 8 | |||
Financing Receivable, Amount Restructured During Period | $ 10 | $ 10 | $ 64 | [3] | $ 25 | |||
Home Equity Line of Credit [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Financing Receivable, Restructured During Period, Number Of Contracts | contracts | 130 | 696 | 410 | [3] | 1,971 | |||
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted | $ 1 | $ 18 | $ 1 | [3] | $ 18 | |||
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted | 11 | 45 | 34 | [3] | 172 | |||
Financing Receivable, Amount Restructured During Period | $ 12 | $ 63 | $ 35 | [3] | $ 190 | |||
Residential Construction [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Financing Receivable, Restructured During Period, Number Of Contracts | contracts | 4 | |||||||
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted | $ 0 | |||||||
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted | 0 | |||||||
Financing Receivable, Amount Restructured During Period | $ 0 | |||||||
Consumer Other Direct [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Financing Receivable, Restructured During Period, Number Of Contracts | contracts | 141 | 135 | 469 | [3] | 425 | |||
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted | $ 0 | $ 0 | $ 0 | [3] | $ 0 | |||
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted | 2 | 2 | 6 | [3] | 6 | |||
Financing Receivable, Amount Restructured During Period | $ 2 | $ 2 | $ 6 | [3] | $ 6 | |||
Consumer Indirect [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Financing Receivable, Restructured During Period, Number Of Contracts | contracts | 559 | 738 | 1,954 | [3] | 2,034 | |||
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted | $ 0 | $ 0 | $ 0 | [3] | $ 0 | |||
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted | 14 | 17 | 46 | [3] | 50 | |||
Financing Receivable, Amount Restructured During Period | $ 14 | $ 17 | $ 46 | [3] | $ 50 | |||
Credit Card Receivable [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Financing Receivable, Restructured During Period, Number Of Contracts | contracts | 345 | 182 | 1,079 | [3] | 615 | |||
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted | $ 1 | $ 1 | $ 4 | [3] | $ 3 | |||
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted | 0 | 0 | 0 | [3] | 0 | |||
Financing Receivable, Amount Restructured During Period | $ 1 | $ 1 | $ 4 | [3] | $ 3 | |||
[1] | Includes loans modified under the terms of a TDR that were charged-off during the period. | |||||||
[2] | Includes loans modified under the terms of a TDR that were charged-off during the period. | |||||||
[3] | Includes loans modified under the terms of a TDR that were charged-off during the period. | |||||||
[4] | Includes loans modified under the terms of a TDR that were charged-off during the period. |
Activity in the Allowance for C
Activity in the Allowance for Credit Losses (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||||||||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | |||||||||
Components: | ||||||||||||||||
Allowance for credit losses | $ 1,695 | $ 1,845 | $ 1,695 | $ 1,845 | ||||||||||||
Provision for loan losses | 61 | 119 | 128 | 324 | ||||||||||||
Provision for Other Credit Losses | 0 | [1] | 1 | [2] | (7) | [1] | 6 | [2] | ||||||||
Allowance for Loan and Lease Losses, Write-offs | (122) | (109) | (329) | (357) | ||||||||||||
Loan recoveries | 34 | 31 | 89 | 96 | ||||||||||||
Loans and Leases Receivable, Allowance | 1,623 | 1,772 | 1,623 | 1,772 | $ 1,650 | $ 1,735 | $ 1,731 | $ 1,709 | ||||||||
Unfunded commitments reserve | 72 | [1] | 73 | [2] | 72 | [1] | 73 | [2] | 72 | [1] | 79 | [1] | 72 | [2] | 67 | [2] |
Commercial Portfolio Segment [Member] | ||||||||||||||||
Components: | ||||||||||||||||
Allowance for credit losses | 1,134 | 1,196 | 1,134 | 1,196 | ||||||||||||
Provision for loan losses | 36 | 5 | 37 | 89 | ||||||||||||
Provision for Other Credit Losses | 0 | [1] | 1 | [2] | (7) | [1] | 6 | [2] | ||||||||
Allowance for Loan and Lease Losses, Write-offs | (51) | (33) | (95) | (122) | ||||||||||||
Loan recoveries | 9 | 11 | 19 | 32 | ||||||||||||
Loans and Leases Receivable, Allowance | 1,062 | 1,123 | 1,062 | 1,123 | 1,068 | 1,101 | 1,140 | 1,124 | ||||||||
Unfunded commitments reserve | 72 | [1] | 73 | [2] | 72 | [1] | 73 | [2] | 72 | [1] | 79 | [1] | 72 | [2] | 67 | [2] |
Consumer Portfolio Segment [Member] | ||||||||||||||||
Components: | ||||||||||||||||
Allowance for credit losses | 561 | 649 | 561 | 649 | ||||||||||||
Provision for loan losses | 25 | 114 | 91 | 235 | ||||||||||||
Allowance for Loan and Lease Losses, Write-offs | (71) | (76) | (234) | (235) | ||||||||||||
Loan recoveries | 25 | 20 | 70 | 64 | ||||||||||||
Loans and Leases Receivable, Allowance | $ 561 | $ 649 | $ 561 | $ 649 | $ 582 | $ 634 | $ 591 | $ 585 | ||||||||
[1] | The unfunded commitments reserve is recorded in Other liabilities in the Consolidated Balance Sheets. | |||||||||||||||
[2] | The unfunded commitments reserve is recorded in Other liabilities in the Consolidated Balance Sheets. |
Activity in the ALLL by segment
Activity in the ALLL by segment (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||||||||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | |||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||||||||||
Provision for loan losses | $ 61 | $ 119 | $ 128 | $ 324 | ||||||||||||
Allowance for Loan and Lease Losses, Write-offs | (122) | (109) | (329) | (357) | ||||||||||||
Loan recoveries | 34 | 31 | 89 | 96 | ||||||||||||
Loans and Leases Receivable, Allowance | 1,623 | 1,772 | 1,623 | 1,772 | $ 1,650 | $ 1,735 | $ 1,731 | $ 1,709 | ||||||||
Unfunded commitments reserve | 72 | [1] | 73 | [2] | 72 | [1] | 73 | [2] | 72 | [1] | 79 | [1] | 72 | [2] | 67 | [2] |
Provision for Other Credit Losses | 0 | [1] | 1 | [2] | (7) | [1] | 6 | [2] | ||||||||
Financing Receivable, Allowance for Credit Losses | 1,695 | 1,845 | 1,695 | 1,845 | ||||||||||||
Commercial Portfolio Segment [Member] | ||||||||||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||||||||||
Provision for loan losses | 36 | 5 | 37 | 89 | ||||||||||||
Allowance for Loan and Lease Losses, Write-offs | (51) | (33) | (95) | (122) | ||||||||||||
Loan recoveries | 9 | 11 | 19 | 32 | ||||||||||||
Loans and Leases Receivable, Allowance | 1,062 | 1,123 | 1,062 | 1,123 | 1,068 | 1,101 | 1,140 | 1,124 | ||||||||
Unfunded commitments reserve | 72 | [1] | 73 | [2] | 72 | [1] | 73 | [2] | 72 | [1] | 79 | [1] | 72 | [2] | 67 | [2] |
Provision for Other Credit Losses | 0 | [1] | 1 | [2] | (7) | [1] | 6 | [2] | ||||||||
Financing Receivable, Allowance for Credit Losses | 1,134 | 1,196 | 1,134 | 1,196 | ||||||||||||
Consumer Portfolio Segment [Member] | ||||||||||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||||||||||
Provision for loan losses | 25 | 114 | 91 | 235 | ||||||||||||
Allowance for Loan and Lease Losses, Write-offs | (71) | (76) | (234) | (235) | ||||||||||||
Loan recoveries | 25 | 20 | 70 | 64 | ||||||||||||
Loans and Leases Receivable, Allowance | 561 | 649 | 561 | 649 | $ 582 | $ 634 | $ 591 | $ 585 | ||||||||
Financing Receivable, Allowance for Credit Losses | $ 561 | $ 649 | $ 561 | $ 649 | ||||||||||||
[1] | The unfunded commitments reserve is recorded in Other liabilities in the Consolidated Balance Sheets. | |||||||||||||||
[2] | The unfunded commitments reserve is recorded in Other liabilities in the Consolidated Balance Sheets. |
Loans Held for Investment portf
Loans Held for Investment portfolio and Related Allowance for Loan and Lease Losses (Detail) - USD ($) $ in Millions | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | |
Individually evaluated | $ 2,747 | $ 2,821 | |||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 192 | 204 | |||||
Collectively evaluated | 144,300 | 140,164 | |||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 1,431 | 1,531 | |||||
Total evaluated | 147,047 | 142,985 | |||||
Loans And Leases Receivable Allowance Loans Evaluated For Impairment Excluding Fair Value Loans | 1,623 | 1,735 | |||||
Loans Receivable, Fair Value Disclosure | 168 | 196 | |||||
Total | [1] | 147,215 | 143,181 | ||||
Loans and Leases Receivable, Allowance | 1,623 | $ 1,650 | 1,735 | $ 1,772 | $ 1,731 | $ 1,709 | |
Commercial Portfolio Segment [Member] | |||||||
Individually evaluated | 238 | 173 | |||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 28 | 21 | |||||
Collectively evaluated | 77,720 | 75,304 | |||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 1,034 | 1,080 | |||||
Total evaluated | 77,958 | 75,477 | |||||
Loans And Leases Receivable Allowance Loans Evaluated For Impairment Excluding Fair Value Loans | 1,062 | 1,101 | |||||
Loans Receivable, Fair Value Disclosure | 0 | 0 | |||||
Total | 77,958 | 75,477 | |||||
Loans and Leases Receivable, Allowance | 1,062 | 1,068 | 1,101 | 1,123 | 1,140 | 1,124 | |
Residential Portfolio Segment [Member] | |||||||
Total | 38,505 | 38,620 | |||||
Consumer Portfolio Segment [Member] | |||||||
Individually evaluated | 2,509 | 2,648 | |||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 164 | 183 | |||||
Collectively evaluated | 66,580 | 64,860 | |||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 397 | 451 | |||||
Total evaluated | 69,089 | 67,508 | |||||
Loans And Leases Receivable Allowance Loans Evaluated For Impairment Excluding Fair Value Loans | 561 | 634 | |||||
Loans Receivable, Fair Value Disclosure | 168 | 196 | |||||
Total | 69,257 | 67,704 | |||||
Loans and Leases Receivable, Allowance | $ 561 | $ 582 | $ 634 | $ 649 | $ 591 | $ 585 | |
[1] | Includes loans of consolidated VIEs of $159 million and $179 million at September 30, 2018 and December 31, 2017, respectively. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | ||||||
Fees and Commissions, Mortgage Banking and Servicing | $ 43 | [1] | $ 46 | [2] | $ 138 | [3] | $ 148 | [4] | ||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | 293,381 | 293,381 | $ 285,301 | |||||||
Mortgage Servicing Rights, Fair Value [Member] | ||||||||||
Fees and Commissions, Mortgage Banking and Servicing | [5] | 108 | 100 | 322 | 301 | |||||
Principal Amount Outstanding of Loans Serviced For Third Parties | 139,955 | 139,955 | 136,071 | |||||||
Unpaid Principal Balance of Outstanding Underlying MSRs Purchased | 7,000 | 0 | ||||||||
Unpaid Principal Balance of Outstanding Underlying MSRs Transferred | 5,900 | |||||||||
Principal Amount Sold on Loans Serviced for Third Parties | 781 | 350 | ||||||||
Asset-backed Securities, Securitized Loans and Receivables [Member] | ||||||||||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | 144,786 | 144,786 | 139,920 | |||||||
Commercial Mortgage Servicing Rights [Member] | ||||||||||
Fees and Commissions, Mortgage Banking and Servicing | [6] | 5 | 6 | 20 | 17 | |||||
Principal Amount Outstanding of Loans Serviced | 32,245 | 32,245 | 30,054 | |||||||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | 6,039 | 6,039 | 5,760 | |||||||
Servicing Asset at Amortized Cost | 64 | 64 | 65 | |||||||
Consumer Portfolio Segment [Member] | Asset-backed Securities, Securitized Loans and Receivables [Member] | ||||||||||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | 138,747 | 138,747 | 134,160 | |||||||
Pillar Financial [Member] | ||||||||||
Fees and Commissions, Mortgage Banking and Servicing | [6] | 3 | $ 3 | 9 | $ 11 | |||||
Principal Amount Outstanding of Loans Serviced For Third Parties | $ 26,206 | $ 26,206 | $ 24,294 | |||||||
[1] | Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers, except for out of scope amounts. | |||||||||
[2] | Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition, and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers. | |||||||||
[3] | Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers, except for out of scope amounts. | |||||||||
[4] | Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition, and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers. | |||||||||
[5] | Recognized in Mortgage servicing related income in the Consolidated Statements of Income. | |||||||||
[6] | Recognized in Commercial real estate related income in the Consolidated Statements of Income. |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets - Changes in the Carrying Amount of Goodwill by Reportable Segment (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2017 | |
Goodwill [Line Items] | ||
Goodwill | $ 6,331 | $ 6,331 |
Goodwill, Transfers | 0 | |
Consumer [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 4,390 | 4,262 |
Goodwill, Transfers | 128 | |
Wholesale [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 1,941 | $ 2,069 |
Goodwill, Transfers | $ (128) |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets - Changes in the Carrying Amounts of Other Intangible Assets (Detail) - USD ($) $ in Millions | 9 Months Ended | ||||||
Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | ||||
Finite-Lived Intangible Assets, Accumulated Amortization | [1] | $ (42) | $ (42) | ||||
Intangible Assets, Net (Excluding Goodwill) | 2,140 | [1] | $ 1,706 | 1,791 | [1] | $ 1,657 | |
Amortization | [2] | (13) | (16) | ||||
Origination of Mortgage Servicing Rights (MSRs) | 260 | 262 | |||||
Servicing Assets at Fair Value, Purchased | 89 | ||||||
Due to changes in inputs or assumptions | [3] | 198 | (27) | ||||
Servicing Asset at Fair Value, Other Changes in Fair Value | [4] | (183) | (168) | ||||
Servicing Asset at Fair Value, Disposals | 2 | 1 | |||||
Intangible Assets, Written off Related to Sale of Business Unit | [5] | (1) | |||||
Indefinite-lived Intangible Assets (Excluding Goodwill) | 12 | 12 | |||||
Intangible Assets, Gross (Excluding Goodwill) | [1] | 2,182 | 1,833 | ||||
Mortgage Servicing Rights, Fair Value [Member] | |||||||
Servicing Asset at Fair Value, Amount | 2,062 | 1,628 | 1,710 | 1,572 | |||
Amortization | [2] | 0 | 0 | ||||
Origination of Mortgage Servicing Rights (MSRs) | 250 | 252 | |||||
Servicing Assets at Fair Value, Purchased | 89 | ||||||
Due to changes in inputs or assumptions | [3] | 198 | (27) | ||||
Servicing Asset at Fair Value, Other Changes in Fair Value | [4] | (183) | (168) | ||||
Servicing Asset at Fair Value, Disposals | 2 | 1 | |||||
Intangible Assets, Written off Related to Sale of Business Unit | [5] | 0 | |||||
Other Intangible Assets [Member] | |||||||
Finite-Lived Intangible Assets, Gross | [1] | 19 | 32 | ||||
Finite-Lived Intangible Assets, Accumulated Amortization | [1] | (17) | (28) | ||||
Finite-Lived Intangible Assets, Net | [1] | 2 | 4 | ||||
Intangible Assets, Net (Excluding Goodwill) | 78 | 78 | 81 | $ 85 | |||
Amortization | [2] | (13) | (16) | ||||
Origination of Mortgage Servicing Rights (MSRs) | 10 | 10 | |||||
Servicing Assets at Fair Value, Purchased | 0 | ||||||
Due to changes in inputs or assumptions | [3] | 0 | 0 | ||||
Servicing Asset at Fair Value, Other Changes in Fair Value | [4] | 0 | 0 | ||||
Servicing Asset at Fair Value, Disposals | 0 | 0 | |||||
Intangible Assets, Written off Related to Sale of Business Unit | [5] | $ (1) | |||||
Commercial Mortgage Servicing Rights [Member] | |||||||
Finite-Lived Intangible Assets, Gross | [1] | 89 | 79 | ||||
Finite-Lived Intangible Assets, Accumulated Amortization | [1] | (25) | (14) | ||||
Finite-Lived Intangible Assets, Net | [1] | 64 | 65 | ||||
Fair Value, Measurements, Recurring [Member] | |||||||
Servicing Asset at Fair Value, Amount | $ 2,062 | $ 1,710 | |||||
[1] | Excludes other intangible assets that are indefinite-lived, carried at fair value, or fully amortized. | ||||||
[2] | Does not include expense associated with community development investments. See Note 10, "Certain Transfers of Financial Assets and Variable Interest Entities," for additional information. | ||||||
[3] | Primarily reflects changes in option adjusted spreads and prepayment speed assumptions, due to changes in interest rates. | ||||||
[4] | Represents changes due to the collection of expected cash flows, net of accretion due to the passage of time. | ||||||
[5] | Represents measurement period adjustment on other intangible assets acquired previously in the Pillar acquisition. |
Goodwill and Other Intangible_5
Goodwill and Other Intangible Assets - Summary of the Key Characteristics, Inputs, and Economic Assumptions Used to Estimate the Fair Value of the Company's MSRs (Detail) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Commercial Mortgage Servicing Rights [Member] | ||
Servicing Asset at Fair Value, Amount | $ 77 | $ 75 |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 12.00% | 12.00% |
Decline in fair value from 10% adverse change | $ 3 | $ 3 |
Decline in fair value from 20% adverse change | $ 6 | $ 6 |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | 6.00% | 7.00% |
Decline in fair value from 10% adverse change | $ 1 | $ 1 |
Decline in fair value from 20% adverse change | $ 2 | $ 2 |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Weighted Average Life | 7 years 10 months | 7 years |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions used to Estimate Fair Value, Float Earnings Rate | 1.10% | 1.10% |
Mortgage Servicing Rights, Fair Value [Member] | ||
Servicing Asset at Fair Value, Amount | $ 2,062 | $ 1,710 |
Discount rate (annual) | 3.00% | 4.00% |
Decline in fair value from 10% adverse change | $ 52 | $ 47 |
Decline in fair value from 20% adverse change | $ 100 | $ 90 |
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Prepayment Speed | 12.00% | 13.00% |
Decline in fair value from 10% adverse change | $ 91 | $ 85 |
Decline in fair value from 20% adverse change | $ 173 | $ 160 |
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Weighted Average Life | 5 years 10 months | 5 years 5 months |
Weighted-average coupon | 4.00% | 3.90% |
Other Assets (Details)
Other Assets (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2018 | Dec. 31, 2017 | ||
Mutual Fund Investments | [1],[2] | $ 65 | $ 65 | $ 49 |
Equity Securities, FV-NI | [1],[2],[3] | 27 | 27 | 7 |
Federal Reserve Bank Stock | [1],[2] | 403 | 403 | 403 |
Federal Home Loan Bank Stock | [1],[2] | 142 | 142 | 15 |
Equity Securities without Readily Determinable Fair Value, Amount | [2],[3] | 50 | 50 | 26 |
Net Investment in Lease | 2,110 | 2,110 | 1,528 | |
Bank Owned Life Insurance | 1,619 | 1,619 | 1,411 | |
Accrued Investment Income Receivable | 1,059 | 1,059 | 880 | |
Receivables from Customers | 669 | 669 | 2,201 | |
Defined Benefit Plan, Funded (Unfunded) Status of Plan | 518 | 518 | 464 | |
Prepaid Expense | 248 | 248 | 319 | |
Other Real Estate | [4] | 52 | 52 | 57 |
Other Assets, Miscellaneous | 887 | 887 | 786 | |
Other Assets | [5] | 9,432 | 9,432 | 9,418 |
Reclassification of Equity Securities from Nommarketable to Marketable | 22 | |||
Equity Securities, FV-NI, Gain (Loss) | [6] | (4) | 10 | |
Equity Securities without Readily Determinable Fair Value, Downward Price Adjustment, Annual Amount | 0 | 0 | ||
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Annual Amount | [6] | 7 | 30 | |
Equity Securities, FV-NI, Realized Gain (Loss) | 0 | 0 | ||
Equity Securities [Member] | ||||
Unrealized Gain (Loss) on Securities | 3 | 40 | ||
Tax Credit Investments [Member] | ||||
Other Assets | [7] | $ 1,583 | $ 1,583 | $ 1,272 |
[1] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. | |||
[2] | Equity securities held for trading purposes are classified in Trading assets and derivative instruments or Trading liabilities and derivative instruments on the Company's Consolidated Balance Sheets. | |||
[3] | During the second quarter of 2018, the Company reclassified $22 million of equity securities from nonmarketable to marketable equity securities due to readily determinable fair value information observed in active markets. | |||
[4] | Does not include foreclosed real estate related to loans insured by the FHA or guaranteed by the VA. Proceeds due from the FHA and the VA are recorded as a receivable in Other assets in the Consolidated Balance Sheets until the property is conveyed and the funds are received. The receivable related to proceeds due from the FHA and the VA totaled $49 million and $45 million at September 30, 2018 and December 31, 2017, respectively. | |||
[5] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets. Reclassifications have been made to previously reported amounts for comparability. | |||
[6] | Recognized in Other noninterest income in the Company's Consolidated Statements of Income. | |||
[7] | See Note 10, "Certain Transfers of Financial Assets and Variable Interest Entities," for additional information. |
Certain Transfers of Financia_3
Certain Transfers of Financial Assets and Variable Interest Entities - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | ||
Assets | $ 211,276 | $ 211,276 | $ 205,962 | |||
Total liabilities | 187,137 | 187,137 | 180,808 | |||
Long-term Debt | [1] | 14,289 | 14,289 | 9,785 | ||
Gains on sale of OTTI securities | 6 | 6 | ||||
Debt Securities, Trading, and Equity Securities, FV-NI | [2] | 5,676 | 5,676 | 5,093 | ||
Investment Tax Credit | $ 25 | |||||
Amortization of Intangible Assets | [3] | 13 | $ 16 | |||
Amortization | 19 | 22 | 51 | 49 | ||
Variable Interest Entity, Not Primary Beneficiary [Member] | ||||||
Investment Tax Credit | 62 | 60 | ||||
Amortization of Intangible Assets | 19 | 19 | 49 | 45 | ||
Variable Interest Entity, Primary Beneficiary [Member] | ||||||
Long-term Debt | 168 | 168 | 189 | |||
Residential Mortgage [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||||
Loans and Leases Receivable, Gain (Loss) on Sales, Net | 46 | 73 | 53 | 152 | ||
Transferor's Interests in Transferred Financial Assets, Fair Value | 22 | |||||
Assets | 147 | |||||
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | 22 | |||||
Commercial and Corporate Loans [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||||
Loans and Leases Receivable, Gain (Loss) on Sales, Net | 8 | $ 9 | 22 | $ 33 | ||
Student Loans [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||||||
Loans Receivable, Net | 171 | 171 | 192 | |||
Long-term Debt | $ 168 | $ 168 | $ 189 | |||
Student Loans [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Maximum [Member] | ||||||
Government Guarantee Percent | 98.00% | 98.00% | 98.00% | |||
Total Return Swap [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||||
Derivative Asset, Notional Amount | $ 1,900 | $ 1,900 | $ 1,700 | |||
Debt Securities, Trading, and Equity Securities, FV-NI | $ 1,900 | $ 1,900 | $ 1,700 | |||
Death, Disability, Bankruptcy [Member] | Student Loans [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Maximum [Member] | ||||||
Government Guarantee Percent | 100.00% | 100.00% | ||||
[1] | Includes debt of consolidated VIEs of $168 million and $189 million at September 30, 2018 and December 31, 2017, respectively. | |||||
[2] | Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,362 million and $1,086 million at September 30, 2018 and December 31, 2017, respectively. | |||||
[3] | Does not include expense associated with community development investments. See Note 10, "Certain Transfers of Financial Assets and Variable Interest Entities," for additional information. |
Portfolio Balances and Delinque
Portfolio Balances and Delinquency Balances Based on 90 days or more Past Due and Net Charge-Offs Related to Managed Portfolio Loans (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | ||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | $ 293,381 | $ 293,381 | $ 285,301 | |||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | 2,593 | 2,593 | 2,590 | |||
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement | 89 | $ 81 | 245 | $ 268 | ||
Commercial Portfolio Segment [Member] | ||||||
Principal Amount Outstanding of Loans Held-in-portfolio | 77,958 | 77,958 | 75,477 | |||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | 310 | 310 | 247 | |||
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement | 42 | 22 | 76 | 90 | ||
Consumer Portfolio Segment [Member] | ||||||
Principal Amount Outstanding of Loans Held-in-portfolio | 69,257 | 69,257 | 67,704 | |||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | 1,867 | 1,867 | 1,832 | |||
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement | 46 | 56 | 164 | 171 | ||
Loans and Finance Receivables [Member] | ||||||
Principal Amount Outstanding of Loans Held-in-portfolio | 147,215 | 147,215 | 143,181 | |||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | 2,177 | 2,177 | 2,079 | |||
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement | 88 | 78 | 240 | 261 | ||
Asset-backed Securities, Securitized Loans and Receivables [Member] | ||||||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | 144,786 | 144,786 | 139,920 | |||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | 226 | 226 | 171 | |||
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement | 1 | 3 | 5 | 7 | ||
Loans [Member] | ||||||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | [1] | 1,380 | 1,380 | 2,200 | ||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | [1] | 190 | 190 | 340 | ||
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement | 0 | 0 | 0 | 0 | ||
Commercial Portfolio Segment [Member] | Asset-backed Securities, Securitized Loans and Receivables [Member] | ||||||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | [2] | 6,039 | 6,039 | 5,760 | ||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | [2] | 0 | 0 | 0 | ||
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement | 0 | 0 | 0 | 0 | ||
Consumer Portfolio Segment [Member] | Asset-backed Securities, Securitized Loans and Receivables [Member] | ||||||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | 138,747 | 138,747 | 134,160 | |||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | 226 | 226 | $ 171 | |||
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement | [3] | $ 1 | $ 3 | $ 5 | $ 7 | |
[1] | Comprised of unsecuritized loans the Company originated and sold to private investors with servicing rights retained. Net charge-offs on these loans are not presented in the table as the data is not reported to the Company by the private investors that own these related loans. | |||||
[2] | Comprised of commercial mortgages sold through Fannie Mae, Freddie Mac, and Ginnie Mae securitizations, whereby servicing has been retained by the Company. | |||||
[3] | Amounts associated with $429 million and $602 million of managed securitized loans at September 30, 2018 and December 31, 2017, respectively. Net charge-off data is not reported to the Company for the remaining balance of $138.3 billion and $133.6 billion of managed securitized loans at September 30, 2018 and December 31, 2017, respectively. |
Certain Transfers of Financia_4
Certain Transfers of Financial Assets and Variable Interest Entities Portfolio Balances and Delinquency Balances Based on 90 days or more Past Due and Net Charge-Offs Related to Managed Portfolio Loans (Additional Information) (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | |
Statement [Line Items] | |||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | $ 293,381 | $ 285,301 | |
Asset-backed Securities, Securitized Loans and Receivables [Member] | |||
Statement [Line Items] | |||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | 144,786 | 139,920 | |
Consumer Portfolio Segment [Member] | Asset-backed Securities, Securitized Loans and Receivables [Member] | |||
Statement [Line Items] | |||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | 138,747 | 134,160 | |
Consumer Portfolio Segment [Member] | Asset-backed Securities, Securitized Loans and Receivables [Member] | STI Sponsored Securitizations [Member] | |||
Statement [Line Items] | |||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | 429 | 602 | |
Consumer Portfolio Segment [Member] | Asset-backed Securities, Securitized Loans and Receivables [Member] | Managed Securitized Loans [Member] | |||
Statement [Line Items] | |||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | 138,318 | 133,558 | |
Commercial Portfolio Segment [Member] | Asset-backed Securities, Securitized Loans and Receivables [Member] | |||
Statement [Line Items] | |||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | [1] | $ 6,039 | $ 5,760 |
[1] | Comprised of commercial mortgages sold through Fannie Mae, Freddie Mac, and Ginnie Mae securitizations, whereby servicing has been retained by the Company. |
Certain Transfers of Financia_5
Certain Transfers of Financial Assets and Variable Interest Entities Tax Credit Variable Interest Entities (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | |
Other Assets | [1] | $ 9,432 | $ 9,418 |
Community Development Investments [Member] | |||
Other Assets | [2] | 1,515 | 1,272 |
Community Development Investments [Member] | Limited Partner [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | [3] | 2,173 | 1,905 |
Renewable Energy Program [Member] | |||
Other Assets | 68 | 0 | |
Renewable Energy Program [Member] | Limited Partner [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | [3] | $ 165 | $ 0 |
[1] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets. Reclassifications have been made to previously reported amounts for comparability. | ||
[2] | At September 30, 2018 and December 31, 2017, the carrying value of community development investments excludes $67 million and $59 million of investments in funds that do not qualify for tax credits, respectively. | ||
[3] | At September 30, 2018 and December 31, 2017, the Company's maximum exposure to loss related to community development investments includes $484 million and $354 million of loans and $648 million and $627 million of unfunded equity commitments, respectively. At September 30, 2018 and December 31, 2017, the Company's maximum exposure to loss related to renewable energy partnerships includes $97 million and $0 of unfunded equity commitments, respectively. |
Certain Transfers of Financia_6
Certain Transfers of Financial Assets and Variable Interest Entities Tax Credit Variable Interest Entities (Additional Information) (Details) - Variable Interest Entity, Not Primary Beneficiary [Member] - Limited Partner [Member] - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Community Development Investments [Member] | ||
Portion of Other Assets Not Qualified for Tax Credits | $ (67) | $ 59 |
Loans Issued by the Company to the Limited Partnerships | 484 | |
Unfunded Equity Commitment | 648 | 627 |
Renewable Energy Program [Member] | ||
Unfunded Equity Commitment | $ 97 | 0 |
Community Development Investments [Member] | ||
Loans Issued by the Company to the Limited Partnerships | $ 354 |
Certain Transfers of Financia_7
Certain Transfers of Financial Assets and Variable Interest Entities Community Development Tax Credits and Amortization (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Affordable Housing Tax Credits and Other Tax Benefits, Amount | $ 28 | $ 27 | $ 87 | $ 77 | |
Amortization Method Qualified Affordable Housing Project Investments, Amortization | 29 | 27 | 92 | 76 | |
Investment Tax Credit | 25 | ||||
Amortization of Intangible Assets | [1] | 13 | 16 | ||
Variable Interest Entity, Not Primary Beneficiary [Member] | |||||
Investment Tax Credit | 62 | 60 | |||
Amortization of Intangible Assets | 19 | $ 19 | $ 49 | $ 45 | |
Community Development Investments [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||||
Investment Tax Credit | $ 23 | ||||
[1] | Does not include expense associated with community development investments. See Note 10, "Certain Transfers of Financial Assets and Variable Interest Entities," for additional information. |
Net Income per common share - A
Net Income per common share - Additonal Information (Details) shares in Millions | 9 Months Ended |
Sep. 30, 2017shares | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1 |
Reconciliation of Net Income to
Reconciliation of Net Income to Net Income Available to Common Shareholders (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||||
Net Income (Loss) Attributable to Parent | $ 752 | $ 538 | [1],[2] | $ 2,117 | $ 1,533 | [3],[4] | |
Dividends, Preferred Stock, Cash | (26) | (26) | (81) | [5] | (65) | [5] | |
Net Income (Loss) Available to Common Stockholders, Basic | $ 726 | $ 512 | $ 2,036 | $ 1,468 | |||
Average basic common shares | 460,252 | 478,258 | 464,804 | 483,711 | |||
Weighted Average Number of Shares Outstanding, Diluted | 464,164 | 483,640 | 469,006 | 489,176 | |||
Net income/(loss) per average common share - diluted | $ 1.56 | $ 1.06 | $ 4.34 | $ 3 | |||
Earnings Per Share, Basic | $ 1.58 | $ 1.07 | $ 4.38 | $ 3.04 | |||
Restricted Stock Units (RSUs) [Member] | |||||||
Dilutive securities | 3,000 | 2,900 | 2,800 | 2,900 | |||
Warrants, options, and restricted stock [Member] | |||||||
Dilutive securities | 900 | 2,400 | 1,400 | 2,600 | |||
[1] | During the fourth quarter of 2017, the Company sold PAC, the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC. | ||||||
[2] | During the second quarter of 2018, certain of the Company's business banking clients were transferred from the Wholesale business segment to the Consumer business segment. For all periods prior to the second quarter of 2018, the corresponding financial results have been transferred to the Consumer business segment for comparability purposes. | ||||||
[3] | During the fourth quarter of 2017, the Company sold PAC, the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC. | ||||||
[4] | During the second quarter of 2018, certain of the Company's business banking clients were transferred from the Wholesale business segment to the Consumer business segment. For all periods prior to the second quarter of 2018, the corresponding financial results have been transferred to the Consumer business segment for comparability purposes. | ||||||
[5] | For the nine months ended September 30, 2018, dividends were $3,044 per share for both Series A and B Preferred Stock, $1,469 per share for Series E Preferred Stock, $4,219 per share for Series F Preferred Stock, $3,788 per share for Series G Preferred Stock, and $4,285 per share for Series H Preferred Stock.For the nine months ended September 30, 2017, dividends were $3,044 per share for both Series A and B Preferred Stock, $4,406 per share for Series E Preferred Stock, $4,219 per share for Series F Preferred Stock, and $2,090 per share for Series G Preferred Stock. |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Income Taxes Other Information [Line Items] | ||||||
Income Tax Expense (Benefit) | $ 95 | $ 225 | $ 412 | $ 606 | ||
Effective Income Tax Rate Reconciliation, Percent | 11.00% | 29.00% | 16.00% | 28.00% | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | |||||
Other Tax Expense (Benefit) | $ (71) | $ 26 | ||||
Excess Tax Benefit from Share-based Compensation, Financing Activities | (22) | |||||
Unrecognized Tax Benefits Related to the Expiration of the Applicable Statute of Limitations | (8) | |||||
Adjustment to Deferred Taxes Remeasurement Benefit Related to 2017 Tax Act | (55) | |||||
Tax Expense (Benefit) from Valuation Allowance Adjustment | $ 21 | $ 35 | 14 | |||
Deferred Tax Assets, Valuation Allowance | $ 89 | $ 89 | $ 143 |
Employee Benefit Plans - Additi
Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Pension Plan Termination Reclass of Deferred Losses from AOCI into Net Income | $ 61 | ||||
Performance Stock Units Expense | [1] | $ 10 | $ 17 | 36 | $ 57 |
Restricted Stock or Unit Expense | 21 | 14 | 82 | 64 | |
Share-based Compensation | $ 31 | $ 31 | $ 118 | $ 121 | |
[1] | Phantom stock units are settled in cash. During the three and nine months ended September 30, 2018, the Company paid $1 million and $76 million, respectively, related to these share-based liabilities. During the three and nine months ended September 30, 2017, the Company paid $2 million and $79 million, respectively, related to these share-based liabilities. |
Stock-Based Compensation Expens
Stock-Based Compensation Expense Recognized in Noninterest Expense (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Restricted Stock or Unit Expense | $ 21 | $ 14 | $ 82 | $ 64 | |
Performance Stock Units Expense | [1] | 10 | 17 | 36 | 57 |
Share-based Compensation | 31 | 31 | 118 | 121 | |
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | [2] | $ 8 | $ 12 | $ 28 | $ 46 |
[1] | Phantom stock units are settled in cash. During the three and nine months ended September 30, 2018, the Company paid $1 million and $76 million, respectively, related to these share-based liabilities. During the three and nine months ended September 30, 2017, the Company paid $2 million and $79 million, respectively, related to these share-based liabilities. | ||||
[2] | Does not include excess tax benefits or deficiencies recognized in the Provision for income taxes in the Consolidated Statements of Income. |
Employee Benefit Plans Stock-Ba
Employee Benefit Plans Stock-Based Compensation Expense Recognized in Noninterest Expense (Additional Information) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Performance Stock Units, Cash Distributions | $ 1 | $ 2 | $ 76 | $ 79 |
Components of Net Periodic Bene
Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Pension Plan [Member] | |||||
Defined Benefit Plan, Service Cost | [1] | $ 1 | $ 1 | $ 4 | $ 4 |
Defined Benefit Plan, Interest Cost | 23 | 24 | 68 | 71 | |
Defined Benefit Plan, Expected Return (Loss) on Plan Assets | (47) | (49) | (140) | (146) | |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | 0 | 0 | 0 | 0 | |
Defined Benefit Plan, Amortization of Gain (Loss) | 6 | 6 | 17 | 18 | |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | (17) | (18) | (51) | (53) | |
Other Postretirement Benefits Plan [Member] | |||||
Defined Benefit Plan, Service Cost | 0 | 0 | 0 | 0 | |
Defined Benefit Plan, Interest Cost | 0 | 0 | 1 | 1 | |
Defined Benefit Plan, Expected Return (Loss) on Plan Assets | (1) | (1) | (4) | (4) | |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | (2) | (1) | (5) | (4) | |
Defined Benefit Plan, Amortization of Gain (Loss) | 0 | 0 | 0 | 0 | |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | $ (3) | $ (2) | $ (8) | $ (7) | |
[1] | Administrative fees are recognized in service cost for each of the periods presented. |
Guarantees - Additional Informa
Guarantees - Additional Information (Details) - USD ($) shares in Millions, $ in Millions | 1 Months Ended | ||
May 31, 2009 | Sep. 30, 2018 | Dec. 31, 2017 | |
Derivative Liability, Fair Value, Gross Asset | $ 2,185 | $ 2,731 | |
Standby Letters of Credit [Member] | |||
Guarantor Obligations, Maximum Exposure, Undiscounted | 3,100 | 2,600 | |
Visa Interest [Member] | |||
Derivative Liability, Fair Value, Gross Asset | 7 | 15 | |
Not Designated as Hedging Instrument [Member] | Derivative Financial Instruments, Liabilities [Member] | Visa Interest [Member] | |||
Number Of Shares Sold To Selected Financial Institutions | 3.2 | ||
Guarantee of Indebtedness of Others [Member] | |||
Loss Contingency Related Loans Unpaid Principal Balance | 3,400 | 3,400 | |
Guarantor Obligations, Maximum Exposure, Undiscounted | 978 | ||
Loss Contingency Accrual, at Carrying Value | $ 12 | $ 11 |
Guarantees Mortgage Loans Repur
Guarantees Mortgage Loans Repurchase Reserve Rollforward (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | |
Guarantees [Abstract] | ||||||||
Reserve For Mortgage Loan Repurchase Losses | $ 36 | $ 39 | $ 36 | $ 39 | $ 36 | $ 39 | $ 40 | $ 40 |
Mortgage Repurchase Reserve, Provision for Mortgage Loan Repurchase Losses | 1 | 0 | (2) | 0 | ||||
Charge Offs For Mortgage Loan Repurchase Losses | $ 1 | $ 1 | $ 1 | $ 1 |
Guarantees Repurchased Mortgage
Guarantees Repurchased Mortgage Loan (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Repurchased mortgage loans, carrying value | $ 206 | $ 219 |
Performing Financial Instruments [Member] | Loans Held-For-Investment [Member] | ||
Repurchased mortgage loans, carrying value | 189 | 203 |
Nonperforming Financing Receivable [Member] | Loans Held-For-Investment [Member] | ||
Repurchased mortgage loans, carrying value | $ 17 | $ 16 |
Derivative Financial Instrume_3
Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Derivative Liability, Fair Value, Gross Liability | $ 3,829 | $ 3,829 | $ 4,442 | ||
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | 135 | 135 | |||
Derivative, Notional Amount | 232,120 | 232,120 | 249,705 | ||
Derivative Asset, Fair Value, Gross Asset | 3,278 | 3,278 | 3,904 | ||
Netted counterparty balance [Member] | |||||
Fair Value, Concentration of Risk, Derivative Instruments, Assets | 404 | 404 | 541 | ||
Derivative Asset, Fair Value of Collateral | 485 | 485 | 399 | ||
Netted counterparty balance gains [Member] | |||||
Fair Value, Concentration of Risk, Derivative Instruments, Assets | 889 | 889 | 900 | ||
Derivative liability positions containing provisions conditioned on downgrades [Member] | |||||
Derivative Liability, Fair Value, Gross Liability | 1,000 | 1,000 | 1,100 | ||
Additional Termination Event [Member] | |||||
Derivative Liability, Fair Value, Gross Liability | 1 | 1 | |||
Additional Termination Event [Member] | Maximum [Member] | |||||
Derivative Liability, Fair Value, Gross Liability | 18 | 18 | |||
Credit Support Annex [Member] | |||||
Derivative Liability, Fair Value, Gross Liability | 1,000 | 1,000 | |||
Collateral Already Posted, Aggregate Fair Value | 900 | 900 | |||
Credit Support Annex [Member] | Moody's, Baa2 Rating [Member] | |||||
Additional Collateral, Aggregate Fair Value | 2 | 2 | |||
Credit Support Annex [Member] | Moody's, Baa3 Rating [Member] | |||||
Additional Collateral, Aggregate Fair Value | 3 | 3 | |||
Credit Support Annex [Member] | Moody's, Ba1 Rating [Member] | |||||
Additional Collateral, Aggregate Fair Value | 2 | 2 | |||
Credit Default Swap, Buying Protection [Member] | |||||
Derivative, Notional Amount | 5 | ||||
Total Return Swap [Member] | |||||
Derivative Liability, Fair Value, Gross Liability | 23 | 23 | 13 | ||
Collateral Already Posted, Aggregate Fair Value | 486 | 486 | 368 | ||
Derivative, Notional Amount | 1,900 | 1,900 | 1,700 | ||
Derivative Asset, Fair Value, Gross Asset | 25 | $ 25 | 15 | ||
Financial Guarantee [Member] | |||||
Derivative, Average Remaining Maturity | 6 years 5 months | 5 years 6 months | |||
Credit Derivative, Maximum Exposure, Undiscounted | 230 | $ 230 | $ 55 | ||
Financial Guarantee [Member] | Minimum [Member] | |||||
Derivative, Remaining Maturity | 1 year | 1 year | |||
Financial Guarantee [Member] | Maximum [Member] | |||||
Derivative, Remaining Maturity | 11 years | 9 years | |||
Interest Rate Contract [Member] | Cash Flow Hedging [Member] | |||||
Derivative, Average Remaining Maturity | 3 years 1 month | 3 years 7 months | |||
Interest Rate Contract [Member] | Minimum [Member] | Cash Flow Hedging [Member] | |||||
Derivative, Remaining Maturity | 1 year | 1 year | |||
Interest Rate Contract [Member] | Maximum [Member] | Cash Flow Hedging [Member] | |||||
Derivative, Remaining Maturity | 7 years | 5 years | |||
Interest Income [Member] | Loans Held-For-Investment [Member] | Interest Rate Contract [Member] | Cash Flow Hedging [Member] | |||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | $ (48) | $ 10 | $ (274) | $ 61 |
Derivative Positions (Detail)
Derivative Positions (Detail) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | |
Derivative, Notional Amount | $ 232,120 | $ 249,705 | |
Derivative Asset, Fair Value, Gross Asset | 3,278 | 3,904 | |
Derivative Liability, Fair Value, Gross Liability | 3,829 | 4,442 | |
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 3,278 | 3,904 | |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 3,829 | 4,442 | |
Derivative, Fair Value, Amount Offset Against Collateral, Net | (2,185) | (2,731) | |
Derivative Liability, Fair Value, Gross Asset | 2,185 | 2,731 | |
Derivative Asset, Collateral, Obligation to Return Cash, Offset | (471) | (371) | |
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | 946 | 1,303 | |
Derivative Asset | [1] | 622 | 802 |
Derivative Liability | [2] | 698 | 408 |
Mortgage Servicing Rights [Member] | Interest rate futures [Member] | |||
Derivative, Notional Amount | 5,600 | 16,600 | |
Loans Held-For-Sale [Member] | Interest rate futures [Member] | |||
Derivative, Notional Amount | 302 | 190 | |
Other Trading [Member] | Interest rate futures [Member] | |||
Derivative, Notional Amount | 4,900 | 9,800 | |
Not Designated as Hedging Instrument [Member] | |||
Derivative, Notional Amount | [3] | 211,455 | 229,525 |
Derivative Asset, Fair Value, Gross Asset | [3] | 3,274 | 3,901 |
Derivative Liability, Fair Value, Gross Liability | [3] | 3,828 | 4,132 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | |||
Derivative, Notional Amount | [3] | 7,418 | 7,058 |
Derivative Asset, Fair Value, Gross Asset | [3] | 106 | 110 |
Derivative Liability, Fair Value, Gross Liability | [3] | 91 | 102 |
Not Designated as Hedging Instrument [Member] | Equity Contract [Member] | |||
Derivative, Notional Amount | [3],[4] | 37,362 | 38,907 |
Derivative Asset, Fair Value, Gross Asset | [3],[4] | 2,384 | 2,499 |
Derivative Liability, Fair Value, Gross Liability | [3],[4] | 2,648 | 2,857 |
Not Designated as Hedging Instrument [Member] | Other Contract [Member] | |||
Derivative, Notional Amount | [3],[5] | 1,886 | 2,017 |
Derivative Asset, Fair Value, Gross Asset | [3],[5] | 13 | 18 |
Derivative Liability, Fair Value, Gross Liability | [3],[5] | 9 | 16 |
Not Designated as Hedging Instrument [Member] | Commodity [Member] | |||
Derivative, Notional Amount | [3] | 1,678 | 1,422 |
Derivative Asset, Fair Value, Gross Asset | [3] | 118 | 63 |
Derivative Liability, Fair Value, Gross Liability | [3] | 116 | 61 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Mortgage Servicing Rights [Member] | |||
Derivative, Notional Amount | [3],[6] | 25,690 | 42,021 |
Derivative Asset, Fair Value, Gross Asset | [3],[6] | 18 | 119 |
Derivative Liability, Fair Value, Gross Liability | [3],[6] | 20 | 119 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Loans Held-For-Sale [Member] | |||
Derivative, Notional Amount | [3],[7] | 5,485 | 7,590 |
Derivative Asset, Fair Value, Gross Asset | [3],[7] | 15 | 9 |
Derivative Liability, Fair Value, Gross Liability | [3],[7] | 4 | 6 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Loans Held-For-Investment [Member] | |||
Derivative, Notional Amount | [3] | 183 | 175 |
Derivative Asset, Fair Value, Gross Asset | [3] | 0 | 2 |
Derivative Liability, Fair Value, Gross Liability | [3] | 0 | 2 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Other Trading [Member] | |||
Derivative, Notional Amount | [3],[4] | 127,059 | 126,366 |
Derivative Asset, Fair Value, Gross Asset | [3],[4] | 595 | 1,066 |
Derivative Liability, Fair Value, Gross Liability | [3],[4] | 894 | 946 |
Not Designated as Hedging Instrument [Member] | Credit Risk Contract [Member] | |||
Derivative Liability, Fair Value, Gross Liability | [3],[8] | 23 | |
Not Designated as Hedging Instrument [Member] | Credit Risk Contract [Member] | Loans Held-For-Investment [Member] | |||
Derivative, Notional Amount | [3] | 825 | 515 |
Derivative Asset, Fair Value, Gross Asset | [3] | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | [3] | 23 | 11 |
Not Designated as Hedging Instrument [Member] | Credit Risk Contract [Member] | Other Trading [Member] | |||
Derivative, Notional Amount | [3],[8] | 3,869 | 3,454 |
Derivative Asset, Fair Value, Gross Asset | [3],[8] | 25 | 15 |
Derivative Liability, Fair Value, Gross Liability | [3],[8] | 12 | |
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | |||
Derivative, Notional Amount | [9] | 12,900 | 14,200 |
Derivative Asset, Fair Value, Gross Asset | [9] | 2 | 2 |
Derivative Liability, Fair Value, Gross Liability | [9] | 1 | 252 |
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Loans Held-For-Investment [Member] | |||
Derivative, Notional Amount | [9] | 12,900 | 14,200 |
Derivative Asset, Fair Value, Gross Asset | [9] | 2 | 2 |
Derivative Liability, Fair Value, Gross Liability | [9] | 1 | 252 |
Fair Value Hedging [Member] | Interest Rate Contract [Member] | |||
Derivative, Notional Amount | [10] | 7,765 | 5,980 |
Derivative Asset, Fair Value, Gross Asset | [10] | 2 | 1 |
Derivative Liability, Fair Value, Gross Liability | [10] | 0 | 58 |
Fair Value Hedging [Member] | Interest Rate Contract [Member] | Fixed Income Interest Rate [Member] | |||
Derivative, Notional Amount | [10] | 7,705 | 5,920 |
Derivative Asset, Fair Value, Gross Asset | [10] | 2 | 1 |
Derivative Liability, Fair Value, Gross Liability | [10] | 0 | 58 |
Fair Value Hedging [Member] | Interest Rate Contract [Member] | Brokered Time Deposits [Member] | |||
Derivative, Notional Amount | [10] | 60 | 60 |
Derivative Asset, Fair Value, Gross Asset | [10] | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | [10] | $ 0 | $ 0 |
[1] | At September 30, 2018, $622 million, net of $471 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2017, $802 million, net of $371 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. | ||
[2] | At September 30, 2018, $698 million, net of $946 million offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2017, $408 million, net of $1.3 billion offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. | ||
[3] | See “Economic Hedging Instruments and Trading Activities” in this Note for further discussion | ||
[4] | Notional amounts include $4.9 billion and $9.8 billion related to interest rate futures at September 30, 2018 and December 31, 2017, and $274 million and $1.2 billion related to equity futures at September 30, 2018 and December 31, 2017, respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. Notional amounts also include amounts related to interest rate swaps hedging fixed rate debt. | ||
[5] | Notional amounts include $41 million and $49 million related to the Visa derivative liability at September 30, 2018 and December 31, 2017, respectively. See Note 14, "Guarantees" for additional information. | ||
[6] | Notional amounts include $5.6 billion and $16.6 billion related to interest rate futures at September 30, 2018 and December 31, 2017, respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. | ||
[7] | Notional amounts include $302 million and $190 million related to interest rate futures at September 30, 2018 and December 31, 2017, respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. | ||
[8] | Notional amounts include $7 million and $4 million from purchased credit risk participation agreements at September 30, 2018 and December 31, 2017, and $33 million and $11 million from written credit risk participation agreements at September 30, 2018 and December 31, 2017, respectively. These notional amounts are calculated as the notional of the derivative participated adjusted by the relevant RWA conversion factor. | ||
[9] | See “Cash Flow Hedging” in this Note for further discussion. | ||
[10] | See “Fair Value Hedging” in this Note for further discussion. |
Derivative Positions (Additiona
Derivative Positions (Additional Information) (Detail) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Derivative, Notional Amount | $ 232,120 | $ 249,705 |
Credit Risk Contract [Member] | ||
Derivative Asset, Notional Amount | 7 | 4 |
Derivative Liability, Notional Amount | 33 | 11 |
Other Contract [Member] | Visa Interest [Member] | ||
Derivative Liability, Notional Amount | 41 | 49 |
Interest rate futures [Member] | Mortgage Servicing Rights [Member] | ||
Derivative, Notional Amount | 5,600 | 16,600 |
Interest rate futures [Member] | Loans Held-For-Sale [Member] | ||
Derivative, Notional Amount | 302 | 190 |
Interest rate futures [Member] | Other Trading [Member] | ||
Derivative, Notional Amount | 4,900 | 9,800 |
Equity Futures [Member] | Equity Contract [Member] | ||
Derivative, Notional Amount | $ 274 | $ 1,222 |
Derivative Financial Instrume_4
Derivative Financial Instruments Netting of Financial Instruments - Derivatives (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | |
Derivative [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | $ 3,278 | $ 3,904 | |
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 3,278 | 3,904 | |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | 2,656 | 3,102 | |
Derivative Asset | [1] | 622 | 802 |
Derivative, Collateral, Obligation to Return Securities | 14 | 28 | |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 608 | 774 | |
Derivative Liability, Fair Value, Gross Liability | 3,829 | 4,442 | |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 3,829 | 4,442 | |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | 3,131 | 4,034 | |
Derivative Liability | [2] | 698 | 408 |
Derivative, Collateral, Right to Reclaim Securities | 58 | 27 | |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 640 | 381 | |
Derivatives Subject to Master Netting Arrangement or Similar Arrangement [Member] | |||
Derivative [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | 2,940 | 3,491 | |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | 2,525 | 2,923 | |
Derivative Asset | 415 | 568 | |
Derivative, Collateral, Obligation to Return Securities | 14 | 28 | |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 401 | 540 | |
Derivative Liability, Fair Value, Gross Liability | 3,587 | 4,128 | |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | 3,000 | 3,855 | |
Derivative Liability | 587 | 273 | |
Derivative, Collateral, Right to Reclaim Securities | 58 | 27 | |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 529 | 246 | |
Derivatives Not Subject to Master Netting Arrangement or Similar Arrangement [Member] [Member] | |||
Derivative [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | 14 | 18 | |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | 0 | 0 | |
Derivative Asset | 14 | 18 | |
Derivative, Collateral, Obligation to Return Securities | 0 | 0 | |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 14 | 18 | |
Derivative Liability, Fair Value, Gross Liability | 111 | 130 | |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | 0 | 0 | |
Derivative Liability | 111 | 130 | |
Derivative, Collateral, Right to Reclaim Securities | 0 | 0 | |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 111 | 130 | |
Exchange Traded [Member] | |||
Derivative [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | 324 | 395 | |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | 131 | 179 | |
Derivative Asset | 193 | 216 | |
Derivative, Collateral, Obligation to Return Securities | 0 | 0 | |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 193 | 216 | |
Derivative Liability, Fair Value, Gross Liability | 131 | 184 | |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | 131 | 179 | |
Derivative Liability | 0 | 5 | |
Derivative, Collateral, Right to Reclaim Securities | 0 | 0 | |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | $ 0 | $ 5 | |
[1] | At September 30, 2018, $622 million, net of $471 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2017, $802 million, net of $371 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. | ||
[2] | At September 30, 2018, $698 million, net of $946 million offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2017, $408 million, net of $1.3 billion offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. |
Derivative Financial Instrume_5
Derivative Financial Instruments Netting of Financial Instruments - Derivatives (Additional Information) (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | |
Derivative [Line Items] | |||
Derivative Asset | [1] | $ 622 | $ 802 |
Derivative Asset, Collateral, Obligation to Return Cash, Offset | 471 | 371 | |
Derivative Liability | [2] | 698 | 408 |
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | 946 | 1,303 | |
Trading Assets [Member] | |||
Derivative [Line Items] | |||
Derivative Asset | 622 | 802 | |
Trading Liabilities [Member] | |||
Derivative [Line Items] | |||
Derivative Liability | $ 698 | $ 408 | |
[1] | At September 30, 2018, $622 million, net of $471 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2017, $802 million, net of $371 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. | ||
[2] | At September 30, 2018, $698 million, net of $946 million offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2017, $408 million, net of $1.3 billion offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. |
Derivative Financial Instrume_6
Derivative Financial Instruments Derivative Instruments, Gain (Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Interest and Fee Income, Loans and Leases Held-in-portfolio | $ 1,549 | $ 1,382 | $ 4,424 | $ 4,009 | |||||
Interest Expense, Long-term Debt | (95) | (76) | (252) | (216) | |||||
Interest Expense, Deposits | (193) | (111) | (484) | (286) | |||||
Trading Gain (Loss) | 42 | [1] | 51 | [2] | 137 | [3] | 148 | [4] | |
Total Amounts of Line Items Presented in the Consolidated Statements of Income | 1,303 | 1,246 | 3,825 | 3,655 | |||||
Loans Held-For-Investment [Member] | |||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Interest and Fee Income, Loans and Leases Held-in-portfolio | 1,549 | 1,382 | 4,424 | 4,009 | |||||
Long-term Debt [Member] | |||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Interest Expense, Long-term Debt | (95) | (76) | (252) | (216) | |||||
Brokered Time Deposits [Member] | |||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Interest Expense, Long-term Debt | (193) | ||||||||
Interest Expense, Deposits | (111) | (484) | (286) | ||||||
Other Trading [Member] | |||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Trading Gain (Loss) | 42 | 51 | 137 | 148 | |||||
Fair Value Hedging [Member] | Interest Rate Contract [Member] | |||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Amounts Related to Interest Settlements on Derivatives | (2) | 3 | (1) | 12 | |||||
Derivative, Gain (Loss) on Derivative, Net | (33) | (3) | (130) | 5 | |||||
Gain (Loss) on Fair Value Hedges Recognized in Earnings | 31 | 3 | 124 | (4) | |||||
Net Income (Expense) Recognized on Hedges | (4) | 3 | (7) | 13 | |||||
Fair Value Hedging [Member] | Interest Rate Contract [Member] | Loans Held-For-Investment [Member] | |||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Amounts Related to Interest Settlements on Derivatives | 0 | 0 | 0 | 0 | |||||
Derivative, Gain (Loss) on Derivative, Net | 0 | 0 | 0 | 0 | |||||
Gain (Loss) on Fair Value Hedges Recognized in Earnings | 0 | 0 | 0 | 0 | |||||
Net Income (Expense) Recognized on Hedges | 0 | 0 | 0 | 0 | |||||
Fair Value Hedging [Member] | Interest Rate Contract [Member] | Long-term Debt [Member] | |||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Amounts Related to Interest Settlements on Derivatives | (2) | 3 | (1) | 12 | |||||
Derivative, Gain (Loss) on Derivative, Net | (33) | 0 | (130) | 0 | |||||
Gain (Loss) on Fair Value Hedges Recognized in Earnings | 31 | [5] | 0 | 124 | [5] | 0 | |||
Net Income (Expense) Recognized on Hedges | (4) | 3 | (7) | 12 | |||||
Fair Value Hedging [Member] | Interest Rate Contract [Member] | Brokered Time Deposits [Member] | |||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Amounts Related to Interest Settlements on Derivatives | 0 | 0 | 0 | 0 | |||||
Derivative, Gain (Loss) on Derivative, Net | 0 | 0 | 0 | 0 | |||||
Gain (Loss) on Fair Value Hedges Recognized in Earnings | 0 | 0 | 0 | 0 | |||||
Net Income (Expense) Recognized on Hedges | 0 | 0 | 0 | 0 | |||||
Fair Value Hedging [Member] | Interest Rate Contract [Member] | Other Trading [Member] | |||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Amounts Related to Interest Settlements on Derivatives | 0 | 0 | 0 | 0 | |||||
Derivative, Gain (Loss) on Derivative, Net | 0 | (3) | 0 | 5 | |||||
Gain (Loss) on Fair Value Hedges Recognized in Earnings | 0 | 3 | 0 | (4) | |||||
Net Income (Expense) Recognized on Hedges | 0 | 0 | 0 | 1 | |||||
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | |||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | (22) | 13 | (39) | 81 | |||||
Net Income (Expense) Recognized on Hedges | (22) | 13 | (39) | 81 | |||||
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Loans Held-For-Investment [Member] | |||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | [6] | (22) | 13 | (39) | 81 | ||||
Net Income (Expense) Recognized on Hedges | (22) | 13 | (39) | 81 | |||||
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Long-term Debt [Member] | |||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | 0 | 0 | 0 | 0 | |||||
Net Income (Expense) Recognized on Hedges | 0 | 0 | 0 | 0 | |||||
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Brokered Time Deposits [Member] | |||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | 0 | 0 | 0 | 0 | |||||
Net Income (Expense) Recognized on Hedges | 0 | 0 | 0 | 0 | |||||
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Other Trading [Member] | |||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | 0 | 0 | 0 | 0 | |||||
Net Income (Expense) Recognized on Hedges | 0 | 0 | 0 | 0 | |||||
Not Designated as Hedging Instrument [Member] | |||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 9 | 53 | 5 | 143 | |||||
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Mortgage Servicing Rights [Member] | Mortgage Servicing Income [Member] | |||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (54) | 17 | (210) | 41 | |||||
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Loans Held-For-Sale [Member] | Mortgage Production Income [Member] | |||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 10 | (20) | 57 | (57) | |||||
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Loans Held-For-Investment [Member] | Other Income [Member] | |||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 1 | 0 | 3 | (1) | |||||
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Other Trading [Member] | Other Trading [Member] | |||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 18 | 11 | 48 | 33 | |||||
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other Trading [Member] | Other Trading [Member] | |||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 9 | (10) | 49 | (43) | |||||
Not Designated as Hedging Instrument [Member] | Credit Risk Contract [Member] | Loans Held-For-Investment [Member] | Other Income [Member] | |||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (5) | (1) | (5) | (3) | |||||
Not Designated as Hedging Instrument [Member] | Credit Risk Contract [Member] | Other Trading [Member] | Other Trading [Member] | |||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 5 | 8 | 16 | 19 | |||||
Not Designated as Hedging Instrument [Member] | Equity Contract [Member] | Other Trading [Member] | Other Trading [Member] | |||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 6 | (1) | 8 | (1) | |||||
Not Designated as Hedging Instrument [Member] | Other Contract [Member] | Interest Rate Lock Commitments [Member] | Mortgage Production and Commercial Real Estate Related Income [Member] | |||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 19 | 49 | 39 | 154 | |||||
Not Designated as Hedging Instrument [Member] | Other Contract [Member] | Commodity Contract [Member] | Other Trading [Member] | |||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 0 | $ 0 | $ 0 | $ 1 | |||||
[1] | Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers, except for out of scope amounts. | ||||||||
[2] | Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition, and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers. | ||||||||
[3] | Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers, except for out of scope amounts. | ||||||||
[4] | Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition, and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers. | ||||||||
[5] | Includes amortization from de-designated fair value hedging relationships. | ||||||||
[6] | These amounts include pre-tax gains/(losses) related to cash flow hedging relationships that have been terminated and were reclassified into earnings consistent with the pattern of net cash flows expected to be recognized. |
Derivative Financial Instrume_7
Derivative Financial Instruments Derivative Instruments, Gain (Loss) (Additional Information) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Derivative Liability, Fair Value, Gross Liability | $ 3,829 | $ 3,829 | $ 4,442 | |||
Interest Rate Contract [Member] | Cash Flow Hedging [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | (22) | $ 13 | (39) | $ 81 | ||
Loans Held-For-Investment [Member] | Interest Rate Contract [Member] | Cash Flow Hedging [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | [1] | (22) | 13 | (39) | 81 | |
Loans Held-For-Investment [Member] | Interest Rate Contract [Member] | Interest Income [Member] | Cash Flow Hedging [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | $ (48) | $ 10 | $ (274) | $ 61 | ||
[1] | These amounts include pre-tax gains/(losses) related to cash flow hedging relationships that have been terminated and were reclassified into earnings consistent with the pattern of net cash flows expected to be recognized. |
Derivative Financial Instrume_8
Derivative Financial Instruments Hedged Items in Fair Value Hedging Relationships (Details) - Fair Value Hedging [Member] | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Long-term Debt [Member] | |
Hedged Items in Fair Value Hedging Relationships [Line Items] | |
Carrying Amount of Assets | $ 6,495,000,000 |
Long-term Debt [Member] | Designated as Hedging Instrument [Member] | |
Hedged Items in Fair Value Hedging Relationships [Line Items] | |
Hedged Asset, Cumulative Basis Adjustment | (170,000,000) |
Long-term Debt [Member] | Not Designated as Hedging Instrument [Member] | |
Hedged Items in Fair Value Hedging Relationships [Line Items] | |
Hedged Asset, Cumulative Basis Adjustment | (73,000,000) |
Brokered Time Deposits [Member] | |
Hedged Items in Fair Value Hedging Relationships [Line Items] | |
Carrying Amount of Assets | 29,000,000 |
Brokered Time Deposits [Member] | Designated as Hedging Instrument [Member] | |
Hedged Items in Fair Value Hedging Relationships [Line Items] | |
Hedged Asset, Cumulative Basis Adjustment | 0 |
Brokered Time Deposits [Member] | Not Designated as Hedging Instrument [Member] | |
Hedged Items in Fair Value Hedging Relationships [Line Items] | |
Hedged Asset, Cumulative Basis Adjustment | $ 0 |
Derivative Financial Instrume_9
Derivative Financial Instruments Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Line Items] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 9 | $ 53 | $ 5 | $ 143 |
Interest Rate Contract [Member] | Mortgage Servicing Income [Member] | Mortgage Servicing Rights [Member] | ||||
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Line Items] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (54) | 17 | (210) | 41 |
Interest Rate Contract [Member] | Mortgage Production Income [Member] | Loans Held-For-Sale [Member] | ||||
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Line Items] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 10 | (20) | 57 | (57) |
Interest Rate Contract [Member] | Other Income [Member] | Loans Held-For-Investment [Member] | ||||
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Line Items] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 1 | 0 | 3 | (1) |
Interest Rate Contract [Member] | Other Trading [Member] | Other Trading [Member] | ||||
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Line Items] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 18 | 11 | 48 | 33 |
Foreign Exchange Contract [Member] | Other Trading [Member] | Other Trading [Member] | ||||
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Line Items] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 9 | (10) | 49 | (43) |
Credit Risk Contract [Member] | Other Income [Member] | Loans Held-For-Investment [Member] | ||||
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Line Items] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (5) | (1) | (5) | (3) |
Credit Risk Contract [Member] | Other Trading [Member] | Other Trading [Member] | ||||
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Line Items] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 5 | 8 | 16 | 19 |
Equity Contract [Member] | Other Trading [Member] | Other Trading [Member] | ||||
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Line Items] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 6 | (1) | 8 | (1) |
Other Contract [Member] | Other Trading [Member] | Commodity Contract [Member] | ||||
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Line Items] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 0 | 0 | 0 | 1 |
Other Contract [Member] | Mortgage Production and Commercial Real Estate Related Income [Member] | Interest Rate Lock Commitments [Member] | ||||
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Line Items] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 19 | $ 49 | $ 39 | $ 154 |
Fair Value Measurement and Elec
Fair Value Measurement and Election - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Loans Receivable, Fair Value Disclosure | $ 168 | $ 168 | $ 196 | ||
Unfunded loan commitments and letters of credit | 71,100 | 71,100 | 66,400 | ||
Allowance for unfunded loan commitments and letters of credit | 74 | 74 | 84 | ||
Reclassification of Equity Securities from Nommarketable to Marketable | 22 | ||||
Fair Value, Inputs, Level 1 [Member] | |||||
Loans Receivable, Fair Value Disclosure | 0 | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | |||||
Loans Receivable, Fair Value Disclosure | 0 | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | |||||
Loans Receivable, Fair Value Disclosure | 168 | 168 | 196 | ||
Total Return Swap [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Loans Receivable, Fair Value Disclosure | 1,900 | 1,900 | 1,700 | ||
Interest Rate Lock Commitments [Member] | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 26 | $ 51 | 43 | $ 157 | |
Trading Loans [Member] | SBA Loans [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Loans Receivable, Fair Value Disclosure | 182 | 182 | 368 | ||
Trading Loans [Member] | Commercial and Corporate Leveraged Loans [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Loans Receivable, Fair Value Disclosure | 65 | 65 | 48 | ||
Fair Value, Measurements, Recurring [Member] | |||||
Loans Receivable, Fair Value Disclosure | 168 | 168 | 196 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Loans Receivable, Fair Value Disclosure | 0 | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Loans Receivable, Fair Value Disclosure | 0 | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Loans Receivable, Fair Value Disclosure | $ 168 | $ 168 | $ 196 |
Assets and Liabilities Measured
Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | [1] | $ 5,676 | $ 5,093 | ||
Available-for-sale Securities | [2],[3] | 30,984 | 30,947 | [4] | |
Loans Held-for-sale, Fair Value Disclosure | 1,822 | 1,577 | |||
Loans Receivable, Fair Value Disclosure | 168 | 196 | |||
Other Assets, Fair Value Disclosure | 56 | ||||
Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 638 | 608 | |||
Available-for-sale Securities | 4,133 | 4,331 | |||
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 | |||
Loans Receivable, Fair Value Disclosure | 0 | 0 | |||
Other Assets, Fair Value Disclosure | 92 | 56 | |||
Trading Liabilities, Fair Value Disclosure | 886 | 769 | |||
Long-term Debt, Fair Value | 0 | 0 | |||
Fair Value, Inputs, Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 5,026 | 4,469 | |||
Available-for-sale Securities | 26,851 | 26,544 | |||
Loans Held-for-sale, Fair Value Disclosure | 1,822 | 1,577 | |||
Loans Receivable, Fair Value Disclosure | 0 | 0 | |||
Other Assets, Fair Value Disclosure | 0 | 0 | |||
Trading Liabilities, Fair Value Disclosure | 968 | 498 | |||
Long-term Debt, Fair Value | 235 | 530 | |||
Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 12 | 16 | |||
Available-for-sale Securities | 0 | 72 | |||
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 | |||
Loans Receivable, Fair Value Disclosure | 168 | 196 | |||
Other Assets, Fair Value Disclosure | 0 | 0 | |||
Trading Liabilities, Fair Value Disclosure | 9 | 16 | |||
Long-term Debt, Fair Value | 0 | 0 | |||
Fair Value, Measurements, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 5,676 | 5,093 | |||
Available-for-sale Securities | 30,984 | [5] | 30,947 | [6] | |
Loans Held-for-sale, Fair Value Disclosure | 1,822 | 1,577 | |||
Loans Receivable, Fair Value Disclosure | 168 | 196 | |||
Servicing Asset at Fair Value, Amount | 2,062 | 1,710 | |||
Other Assets, Fair Value Disclosure | 92 | [5] | 56 | [6] | |
Trading Liabilities, Fair Value Disclosure | 1,863 | 1,283 | |||
Long-term Debt, Fair Value | 235 | 530 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 638 | 608 | |||
Available-for-sale Securities | 4,133 | [5] | 4,331 | [6] | |
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 | |||
Loans Receivable, Fair Value Disclosure | 0 | 0 | |||
Servicing Asset at Fair Value, Amount | 0 | 0 | |||
Other Assets, Fair Value Disclosure | 92 | [5] | 56 | [6] | |
Trading Liabilities, Fair Value Disclosure | 886 | 769 | |||
Long-term Debt, Fair Value | 0 | 0 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 7,682 | 7,571 | |||
Available-for-sale Securities | 26,851 | [5] | 26,544 | [6] | |
Loans Held-for-sale, Fair Value Disclosure | 1,822 | 1,577 | |||
Loans Receivable, Fair Value Disclosure | 0 | 0 | |||
Servicing Asset at Fair Value, Amount | 0 | 0 | |||
Other Assets, Fair Value Disclosure | 0 | [5] | 0 | [6] | |
Trading Liabilities, Fair Value Disclosure | 4,099 | 4,532 | |||
Long-term Debt, Fair Value | 235 | 530 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 12 | 16 | |||
Available-for-sale Securities | 0 | [5] | 72 | [6] | |
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 | |||
Loans Receivable, Fair Value Disclosure | 168 | 196 | |||
Servicing Asset at Fair Value, Amount | 2,062 | 1,710 | |||
Other Assets, Fair Value Disclosure | 0 | [5] | 0 | [6] | |
Trading Liabilities, Fair Value Disclosure | 9 | 16 | |||
Long-term Debt, Fair Value | 0 | 0 | |||
US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 247 | 157 | |||
Available-for-sale Securities | 4,133 | 4,331 | |||
Trading Liabilities, Fair Value Disclosure | 742 | 577 | |||
US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 0 | 0 | |||
Available-for-sale Securities | 0 | 0 | |||
Trading Liabilities, Fair Value Disclosure | 0 | 0 | |||
US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 0 | 0 | |||
Available-for-sale Securities | 0 | 0 | |||
Trading Liabilities, Fair Value Disclosure | 0 | 0 | |||
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 0 | 0 | |||
Available-for-sale Securities | 0 | 0 | |||
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 507 | 395 | |||
Available-for-sale Securities | 223 | 259 | |||
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 0 | 0 | |||
Available-for-sale Securities | 0 | 0 | |||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 0 | 0 | |||
Available-for-sale Securities | 0 | 0 | |||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 91 | 61 | |||
Available-for-sale Securities | 602 | 617 | |||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 0 | 0 | |||
Available-for-sale Securities | 0 | 0 | |||
Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 0 | 0 | |||
Available-for-sale Securities | 0 | 0 | |||
Trading Liabilities, Fair Value Disclosure | 0 | 0 | |||
Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 820 | 655 | |||
Available-for-sale Securities | 14 | 12 | |||
Trading Liabilities, Fair Value Disclosure | 411 | 289 | |||
Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 0 | 0 | |||
Available-for-sale Securities | 0 | 5 | |||
Trading Liabilities, Fair Value Disclosure | 0 | 0 | |||
Commercial Paper [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 0 | 0 | |||
Commercial Paper [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 408 | 118 | |||
Commercial Paper [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 0 | 0 | |||
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 67 | 56 | |||
Trading Liabilities, Fair Value Disclosure | 12 | 9 | |||
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 0 | 0 | |||
Trading Liabilities, Fair Value Disclosure | 0 | 0 | |||
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 0 | 0 | |||
Trading Liabilities, Fair Value Disclosure | 0 | 0 | |||
Derivative Financial Instruments, Assets [Member] | Fair Value, Measurements, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 622 | 802 | |||
Derivative Financial Instruments, Assets [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 324 | 395 | |||
Derivative Financial Instruments, Assets [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 2,942 | 3,493 | |||
Derivative Financial Instruments, Assets [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 12 | 16 | |||
Trading Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 0 | 0 | |||
Trading Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 2,171 | 2,149 | |||
Trading Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 0 | 0 | |||
Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale Securities | 0 | ||||
Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale Securities | 0 | ||||
Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale Securities | 8 | ||||
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Measurements, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading Liabilities, Fair Value Disclosure | 698 | 408 | |||
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading Liabilities, Fair Value Disclosure | 132 | 183 | |||
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading Liabilities, Fair Value Disclosure | 3,688 | 4,243 | |||
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading Liabilities, Fair Value Disclosure | 9 | 16 | |||
Brokered Time Deposits [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Deposits, Fair Value Disclosure | 0 | 0 | |||
Brokered Time Deposits [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Deposits, Fair Value Disclosure | 384 | 236 | |||
Brokered Time Deposits [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Deposits, Fair Value Disclosure | 0 | 0 | |||
Brokered Time Deposits [Member] | Fair Value, Measurements, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Deposits, Fair Value Disclosure | 384 | 236 | |||
Brokered Time Deposits [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Deposits, Fair Value Disclosure | 0 | 0 | |||
Brokered Time Deposits [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Deposits, Fair Value Disclosure | 384 | 236 | |||
Brokered Time Deposits [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Deposits, Fair Value Disclosure | 0 | 0 | |||
Reported Value Measurement [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 5,676 | 5,093 | |||
Available-for-sale Securities | 30,984 | 30,947 | |||
Loans Held-for-sale, Fair Value Disclosure | 1,822 | 1,577 | |||
Loans Receivable, Fair Value Disclosure | 168 | 196 | |||
Other Assets, Fair Value Disclosure | 92 | [7] | 56 | [8] | |
Trading Liabilities, Fair Value Disclosure | 1,863 | 1,283 | |||
Long-term Debt, Fair Value | 235 | 530 | |||
Reported Value Measurement [Member] | Brokered Time Deposits [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Deposits, Fair Value Disclosure | 384 | 236 | |||
Estimate of Fair Value Measurement [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 5,676 | 5,093 | |||
Available-for-sale Securities | 30,984 | 30,947 | |||
Loans Held-for-sale, Fair Value Disclosure | 1,822 | 1,577 | |||
Loans Receivable, Fair Value Disclosure | 168 | 196 | |||
Other Assets, Fair Value Disclosure | 92 | [7] | 56 | [8] | |
Trading Liabilities, Fair Value Disclosure | 1,863 | 1,283 | |||
Long-term Debt, Fair Value | 235 | 530 | |||
Estimate of Fair Value Measurement [Member] | US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 247 | 157 | |||
Available-for-sale Securities | 4,133 | 4,331 | |||
Trading Liabilities, Fair Value Disclosure | 742 | 577 | |||
Estimate of Fair Value Measurement [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 507 | 395 | |||
Available-for-sale Securities | 223 | 259 | |||
Estimate of Fair Value Measurement [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 91 | 61 | |||
Available-for-sale Securities | 602 | 617 | |||
Estimate of Fair Value Measurement [Member] | Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 820 | 655 | |||
Available-for-sale Securities | 14 | 17 | |||
Trading Liabilities, Fair Value Disclosure | 411 | 289 | |||
Estimate of Fair Value Measurement [Member] | Commercial Paper [Member] | Fair Value, Measurements, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 408 | 118 | |||
Estimate of Fair Value Measurement [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 67 | 56 | |||
Trading Liabilities, Fair Value Disclosure | 12 | 9 | |||
Estimate of Fair Value Measurement [Member] | Trading Loans [Member] | Fair Value, Measurements, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 2,171 | 2,149 | |||
Estimate of Fair Value Measurement [Member] | Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale Securities | 8 | ||||
Estimate of Fair Value Measurement [Member] | Brokered Time Deposits [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Deposits, Fair Value Disclosure | 384 | 236 | |||
Fair Value, Concentration of Credit Risk, Master Netting Arrangements [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | (2,656) | [9] | (3,102) | [10] | |
Trading Liabilities, Fair Value Disclosure | (3,131) | [9] | (4,034) | [10] | |
Fair Value, Concentration of Credit Risk, Master Netting Arrangements [Member] | Derivative Financial Instruments, Assets [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | (2,656) | [9] | (3,102) | [10] | |
Fair Value, Concentration of Credit Risk, Master Netting Arrangements [Member] | Derivative Financial Instruments, Liabilities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading Liabilities, Fair Value Disclosure | (3,131) | [9] | (4,034) | [10] | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 743 | 700 | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 0 | 0 | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 743 | 700 | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 0 | 0 | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage Backed Securities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale Securities | 22,505 | 22,704 | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale Securities | 0 | 0 | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale Securities | 22,505 | 22,704 | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale Securities | 0 | 0 | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale Securities | 2,602 | 2,086 | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale Securities | 0 | 0 | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale Securities | 2,602 | 2,086 | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale Securities | 0 | 0 | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 743 | 700 | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Estimate of Fair Value Measurement [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale Securities | 22,505 | 22,704 | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Estimate of Fair Value Measurement [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale Securities | 2,602 | 2,086 | |||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Residential Mortgage Backed Securities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale Securities | 59 | ||||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale Securities | 0 | ||||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale Securities | 0 | ||||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale Securities | 59 | ||||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale Securities | 905 | 866 | |||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale Securities | 0 | 0 | |||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale Securities | 905 | 866 | |||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale Securities | 0 | 0 | |||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Estimate of Fair Value Measurement [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale Securities | 59 | ||||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Estimate of Fair Value Measurement [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale Securities | $ 905 | $ 866 | |||
[1] | Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,362 million and $1,086 million at September 30, 2018 and December 31, 2017, respectively. | ||||
[2] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets. Reclassifications have been made to previously reported amounts for comparability. | ||||
[3] | Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $164 million and $223 million at September 30, 2018 and December 31, 2017, respectively. | ||||
[4] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information. | ||||
[5] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information. | ||||
[6] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information. | ||||
[7] | Other financial assets recorded at amortized cost consist of FHLB of Atlanta stock and Federal Reserve Bank of Atlanta stock. Other financial assets recorded at fair value consist of mutual fund investments and other equity securities with readily determinable fair values. | ||||
[8] | Other financial assets recorded at amortized cost consist of FHLB of Atlanta stock and Federal Reserve Bank of Atlanta stock. Other financial assets recorded at fair value consist of mutual fund investments and other equity securities with readily determinable fair values. | ||||
[9] | Amounts represent offsetting cash collateral received from, and paid to, the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. See Note 15, "Derivative Financial Instruments," for additional information. | ||||
[10] | Amounts represent offsetting cash collateral received from, and paid to, the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. See Note 15, "Derivative Financial Instruments," for additional information. |
Fair Value Option Elected, Diff
Fair Value Option Elected, Difference Between the Aggregate Fair Value and the Aggregate Unpaid Principal Balance (Detail) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | |
Debt Securities, Trading, and Equity Securities, FV-NI | [1] | $ 5,676 | $ 5,093 |
Loans Receivable, Fair Value Disclosure | 168 | 196 | |
Loans Held-for-sale, Fair Value Disclosure | 1,822 | 1,577 | |
Trading Loans [Member] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 2,171 | 2,149 | |
Aggregate Unpaid Principal Balance Under the Fair Value Option | (2,160) | (2,111) | |
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables | 11 | 38 | |
Loans Held-For-Sale [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Aggregate Unpaid Principal Balance Under the Fair Value Option | (1) | ||
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables | 0 | ||
Loans Held-for-sale, Fair Value Disclosure | 1 | ||
Loans Held-For-Sale [Member] | Performing Financial Instruments [Member] | |||
Aggregate Unpaid Principal Balance Under the Fair Value Option | (1,775) | (1,533) | |
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables | 47 | 43 | |
Loans Held-for-sale, Fair Value Disclosure | 1,822 | 1,576 | |
Loans Held-For-Investment [Member] | Performing Financial Instruments [Member] | |||
Loans Receivable, Fair Value Disclosure | 162 | 192 | |
Aggregate Unpaid Principal Balance Under the Fair Value Option | (171) | (198) | |
Fair Value, Option, Loans Held as Assets, Aggregate Difference | (9) | (6) | |
Loans Held-For-Investment [Member] | Nonperforming Financing Receivable [Member] | |||
Loans Receivable, Fair Value Disclosure | 6 | 4 | |
Aggregate Unpaid Principal Balance Under the Fair Value Option | (8) | (6) | |
Fair Value, Option, Loans Held as Assets, Aggregate Amount in Nonaccrual Status, Aggregated Difference | (2) | (2) | |
Brokered Time Deposits [Member] | |||
Obligations, Fair Value Disclosure | 384 | 236 | |
Aggregate Unpaid Principal Balance Under the Fair Value Option | (379) | (233) | |
Fair Value, Option, Aggregate Differences, Long-term Debt Instruments | 5 | 3 | |
Long-term Debt [Member] | |||
Obligations, Fair Value Disclosure | 235 | 530 | |
Aggregate Unpaid Principal Balance Under the Fair Value Option | (230) | (517) | |
Fair Value, Option, Aggregate Differences, Long-term Debt Instruments | $ 5 | $ 13 | |
[1] | Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,362 million and $1,086 million at September 30, 2018 and December 31, 2017, respectively. |
Change in Fair Value of Financi
Change in Fair Value of Financial Instruments for which the FVO has been Elected (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |||||
Trading Loans [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | $ 3 | [1] | $ 8 | [2] | $ 10 | [1] | $ 16 | [2] |
Trading Loans [Member] | Trading Revenue [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 3 | 8 | 10 | 16 | ||||
Trading Loans [Member] | Mortgage Production Income [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | [3] | 0 | [4] | 0 | [3] | 0 | [4] |
Trading Loans [Member] | Mortgage Servicing Income [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | 0 | 0 | ||||
Trading Loans [Member] | Other Income [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | 0 | 0 | ||||
Loans Held-For-Sale [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 5 | [1] | 21 | [2] | (3) | [1] | 44 | [2] |
Loans Held-For-Sale [Member] | Trading Revenue [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | 0 | 0 | ||||
Loans Held-For-Sale [Member] | Mortgage Production Income [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 5 | [3] | 21 | [4] | (3) | [3] | 44 | [4] |
Loans Held-For-Sale [Member] | Mortgage Servicing Income [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | 0 | 0 | ||||
Loans Held-For-Sale [Member] | Other Income [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | 0 | 0 | ||||
Loans Held-For-Investment [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | (1) | [1] | 0 | [2] | (4) | [1] | 1 | [2] |
Loans Held-For-Investment [Member] | Trading Revenue [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | 0 | 0 | ||||
Loans Held-For-Investment [Member] | Mortgage Production Income [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | [3] | 0 | [4] | 0 | [3] | 0 | [4] |
Loans Held-For-Investment [Member] | Mortgage Servicing Income [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | 0 | 0 | ||||
Loans Held-For-Investment [Member] | Other Income [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | (1) | 0 | (4) | 1 | ||||
Mortgage Servicing Rights [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | (8) | [1] | (69) | [2] | 22 | [1] | (192) | [2] |
Mortgage Servicing Rights [Member] | Trading Revenue [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | 0 | 0 | ||||
Mortgage Servicing Rights [Member] | Mortgage Production Income [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 3 | [3] | 1 | [4] | 7 | [3] | 3 | [4] |
Mortgage Servicing Rights [Member] | Mortgage Servicing Income [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | (11) | (70) | 15 | (195) | ||||
Mortgage Servicing Rights [Member] | Other Income [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | 0 | 0 | ||||
Brokered Time Deposits [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | (4) | [1] | 0 | [1] | 6 | [1] | 2 | [2] |
Brokered Time Deposits [Member] | Trading Revenue [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | (4) | 0 | 6 | 2 | ||||
Brokered Time Deposits [Member] | Mortgage Production Income [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | [3] | 0 | [3] | 0 | [3] | 0 | [4] |
Brokered Time Deposits [Member] | Mortgage Servicing Income [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | 0 | 0 | ||||
Brokered Time Deposits [Member] | Other Income [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | 0 | 0 | ||||
Long-term Debt [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 1 | [1] | 5 | [2] | 6 | [1] | 16 | [2] |
Long-term Debt [Member] | Trading Revenue [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 1 | 5 | 6 | 16 | ||||
Long-term Debt [Member] | Mortgage Production Income [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | [3] | 0 | [4] | 0 | [3] | 0 | [4] |
Long-term Debt [Member] | Mortgage Servicing Income [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | 0 | 0 | ||||
Long-term Debt [Member] | Other Income [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | $ 0 | $ 0 | $ 0 | $ 0 | ||||
[1] | Changes in fair value for the three and nine months ended September 30, 2018 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS, LHFI, brokered time deposits, and long-term debt that have been elected to be measured at fair value are recognized in Interest income or Interest expense in the Consolidated Statements of Income. | |||||||
[2] | Changes in fair value for the three and nine months ended September 30, 2017 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS, LHFI, brokered time deposits, and long-term debt that have been elected to be measured at fair value are recognized in Interest income or Interest expense in the Consolidated Statements of Income. | |||||||
[3] | Income related to LHFS does not include income from IRLCs. For the three and nine months ended September 30, 2018, income related to residential MSRs includes income recognized upon the sale of loans reported at LOCOM. | |||||||
[4] | Income related to LHFS does not include income from IRLCs. For the three and nine months ended September 30, 2017, income related to residential MSRs includes income recognized upon the sale of loans reported at LOCOM. |
Fair Value Election and Measu_3
Fair Value Election and Measurement Level 3 Significant Unobservable Input Assumptions (Details) $ in Millions | Sep. 30, 2018USD ($) | Dec. 31, 2017USD ($) | |||
level 3 fair value assumptions [Line Items] | |||||
Available-for-sale Securities | [1],[2] | $ 30,984 | $ 30,947 | [3] | |
Loans Receivable, Fair Value Disclosure | 168 | 196 | |||
Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Available-for-sale Securities | 0 | 72 | |||
Loans Receivable, Fair Value Disclosure | 168 | 196 | |||
Fair Value, Measurements, Recurring [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Available-for-sale Securities | 30,984 | [4] | 30,947 | [5] | |
Loans Receivable, Fair Value Disclosure | 168 | 196 | |||
Servicing Asset at Fair Value, Amount | 2,062 | 1,710 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Available-for-sale Securities | 0 | [4] | 72 | [5] | |
Loans Receivable, Fair Value Disclosure | 168 | 196 | |||
Servicing Asset at Fair Value, Amount | 2,062 | 1,710 | |||
Fair Value, Measurements, Recurring [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Derivative, Fair Value, Net | 3 | [6] | 0 | [7] | |
Loans Receivable, Fair Value Disclosure | 6 | 4 | |||
Fair Value, Measurements, Recurring [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Loans Receivable, Fair Value Disclosure | 162 | 192 | |||
Servicing Asset at Fair Value, Amount | $ 2,062 | 1,710 | |||
Fair Value, Measurements, Recurring [Member] | Asset-backed Securities [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Available-for-sale Securities | 8 | ||||
Fair Value, Measurements, Recurring [Member] | Other Debt Obligations [Member] | Valuation, Cost Approach [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Available-for-sale Securities | 5 | ||||
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Available-for-sale Securities | $ 59 | ||||
Pull Through Rate [Member] | Fair Value, Measurements, Recurring [Member] | Valuation, Market Approach [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Derivative Asset (Liability) Net, Measurement Input | 0.40 | 0.41 | |||
Pull Through Rate [Member] | Fair Value, Measurements, Recurring [Member] | Valuation, Market Approach [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Derivative Asset (Liability) Net, Measurement Input | 1 | 1 | |||
Pull Through Rate [Member] | Fair Value, Measurements, Recurring [Member] | Valuation, Market Approach [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Derivative Asset (Liability) Net, Measurement Input | 0.82 | 0.81 | |||
MSR Value [Member] | Fair Value, Measurements, Recurring [Member] | Valuation, Market Approach [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Derivative Asset (Liability) Net, Measurement Input | 0.0028 | 0.0041 | |||
MSR Value [Member] | Fair Value, Measurements, Recurring [Member] | Valuation, Market Approach [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Derivative Asset (Liability) Net, Measurement Input | 0.0173 | 0.0190 | |||
MSR Value [Member] | Fair Value, Measurements, Recurring [Member] | Valuation, Market Approach [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Derivative Asset (Liability) Net, Measurement Input | 0.0116 | 0.0113 | |||
Measurement Input, Credit Spread [Member] | Fair Value, Measurements, Recurring [Member] | Valuation, Income Approach [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Loans Held-For-Investment, Measurement Input | 0.0062 | 0.0062 | |||
Servicing Asset, Measurement Input | 0 | 0.01 | |||
Measurement Input, Credit Spread [Member] | Fair Value, Measurements, Recurring [Member] | Valuation, Income Approach [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Loans Held-For-Investment, Measurement Input | 0.0784 | 0.0784 | |||
Servicing Asset, Measurement Input | 1.13 | 1.25 | |||
Measurement Input, Credit Spread [Member] | Fair Value, Measurements, Recurring [Member] | Valuation, Income Approach [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Loans Held-For-Investment, Measurement Input | 0.0177 | 0.0215 | |||
Servicing Asset, Measurement Input | 0.03 | 0.04 | |||
Measurement Input, Prepayment Rate [Member] | Fair Value, Measurements, Recurring [Member] | Valuation, Income Approach [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Loans Held-For-Investment, Measurement Input | 0.04 | 0.02 | |||
Servicing Asset, Measurement Input | 0.05 | 0.06 | |||
Measurement Input, Prepayment Rate [Member] | Fair Value, Measurements, Recurring [Member] | Valuation, Income Approach [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Loans Held-For-Investment, Measurement Input | 0.27 | 0.34 | |||
Servicing Asset, Measurement Input | 0.30 | 0.30 | |||
Measurement Input, Prepayment Rate [Member] | Fair Value, Measurements, Recurring [Member] | Valuation, Income Approach [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Loans Held-For-Investment, Measurement Input | 0.12 | 0.11 | |||
Servicing Asset, Measurement Input | 0.13 | 0.13 | |||
Measurement Input, Default Rate [Member] | Fair Value, Measurements, Recurring [Member] | Valuation, Income Approach [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Loans Held-For-Investment, Measurement Input | 0 | 0 | |||
Measurement Input, Default Rate [Member] | Fair Value, Measurements, Recurring [Member] | Valuation, Income Approach [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Loans Held-For-Investment, Measurement Input | 0.02 | 0.05 | |||
Measurement Input, Default Rate [Member] | Fair Value, Measurements, Recurring [Member] | Valuation, Income Approach [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Loans Held-For-Investment, Measurement Input | 0.007 | 0.007 | |||
[1] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets. Reclassifications have been made to previously reported amounts for comparability. | ||||
[2] | Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $164 million and $223 million at September 30, 2018 and December 31, 2017, respectively. | ||||
[3] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information. | ||||
[4] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information. | ||||
[5] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information. | ||||
[6] | Amount represents the net of IRLC assets and liabilities and includes the derivative liability associated with the Company's sale of Visa shares. Refer to the "Trading Liabilities and Derivative Instruments" section herein for a discussion of valuation assumptions related to the Visa derivative liability. | ||||
[7] | Amount represents the net of IRLC assets and liabilities and includes the derivative liability associated with the Company's sale of Visa shares. Refer to the "Trading Liabilities and Derivative Instruments" section herein for a discussion of valuation assumptions related to the Visa derivative liability. |
Reconciliation of the Beginning
Reconciliation of the Beginning and Ending Balances for Fair Valued Assets and Liabilities Measured on a Recurring Basis Using Significant Unobservable Inputs (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | |||||
Derivative contracts, net [Member] | ||||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | $ 3 | $ 6 | $ 3 | $ 6 | $ 3 | $ 0 | $ 4 | $ 6 | ||||
Included in earnings | 18 | [1] | 52 | [2] | 36 | [1] | 157 | [2] | ||||
OCI | 0 | 0 | 0 | 0 | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | 0 | 0 | 0 | ||||||||
Sales | 0 | 0 | 0 | 0 | ||||||||
Settlements | 8 | 1 | 10 | 0 | ||||||||
Transfers to other balance sheet line items | (26) | (51) | (43) | (157) | ||||||||
Transfers into Level 3 | 0 | 0 | 0 | 0 | ||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | 0 | 0 | 0 | 0 | ||||||||
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) | 10 | 19 | 7 | 17 | ||||||||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 0 | 62 | 0 | 62 | 59 | 67 | 74 | |||||
Included in earnings | 0 | 0 | 0 | |||||||||
OCI | (1) | [3] | 0 | (1) | [3] | |||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | 0 | 0 | |||||||||
Sales | 0 | 0 | 0 | |||||||||
Settlements | 6 | 2 | 13 | |||||||||
Transfers to other balance sheet line items | 0 | 0 | 0 | |||||||||
Transfers into Level 3 | 0 | 0 | 0 | |||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | 0 | (57) | 0 | |||||||||
Asset-backed Securities [Member] | ||||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 0 | 8 | 0 | 8 | 8 | 9 | 10 | |||||
Included in earnings | 0 | 0 | 0 | |||||||||
OCI | 0 | 0 | 0 | |||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | 0 | 0 | |||||||||
Sales | 0 | 0 | 0 | |||||||||
Settlements | 1 | 1 | 2 | |||||||||
Transfers to other balance sheet line items | 0 | 0 | 0 | |||||||||
Transfers into Level 3 | 0 | 0 | 0 | |||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | 0 | (7) | 0 | |||||||||
Corporate Debt Securities [Member] | ||||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 0 | 5 | 0 | 5 | 5 | 5 | 5 | |||||
Included in earnings | 0 | 0 | 0 | |||||||||
OCI | 0 | 0 | 0 | |||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | 0 | 0 | |||||||||
Sales | 0 | 0 | 0 | |||||||||
Settlements | 0 | 0 | 0 | |||||||||
Transfers to other balance sheet line items | 0 | 0 | 0 | |||||||||
Transfers into Level 3 | 0 | 0 | 0 | |||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | 0 | (5) | 0 | |||||||||
Available-for-sale Securities [Member] | ||||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 0 | 75 | 0 | 75 | 72 | 81 | 93 | |||||
Included in earnings | 0 | 0 | 0 | |||||||||
OCI | (1) | [3] | 0 | (1) | [3] | |||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | 0 | 0 | |||||||||
Sales | 0 | 0 | 0 | |||||||||
Settlements | 7 | 3 | 19 | |||||||||
Transfers to other balance sheet line items | 0 | 0 | 0 | |||||||||
Transfers into Level 3 | 0 | 0 | 0 | |||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | 0 | (69) | 0 | |||||||||
Residential Mortgage, Loans Held For Sale [Member] | ||||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 1 | 1 | 2 | 12 | ||||||||
Included in earnings | 0 | 0 | ||||||||||
OCI | 0 | 0 | ||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | 0 | ||||||||||
Sales | (2) | (22) | ||||||||||
Settlements | 1 | 1 | ||||||||||
Transfers to other balance sheet line items | (1) | (3) | ||||||||||
Transfers into Level 3 | 3 | 17 | ||||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | 0 | (2) | ||||||||||
Loans Held-For-Investment [Member] | ||||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 168 | 206 | 168 | 206 | $ 177 | $ 196 | 214 | 222 | ||||
Included in earnings | 0 | [4] | 0 | [5] | (3) | [4] | 1 | [5] | ||||
OCI | 0 | 0 | 0 | 0 | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | 0 | 0 | 0 | ||||||||
Sales | 0 | 0 | 0 | 0 | ||||||||
Settlements | 9 | 9 | 26 | 24 | ||||||||
Transfers to other balance sheet line items | 0 | (1) | 0 | (3) | ||||||||
Transfers into Level 3 | 0 | 0 | 1 | 4 | ||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | 0 | 0 | 0 | 0 | ||||||||
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) | $ 0 | [4] | 0 | $ (4) | 1 | |||||||
US States and Political Subdivisions Debt Securities [Member] | ||||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 0 | 0 | $ 0 | $ 4 | ||||||||
Included in earnings | 0 | 0 | ||||||||||
OCI | 0 | 0 | ||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | 0 | ||||||||||
Sales | 0 | 0 | ||||||||||
Settlements | 0 | 4 | ||||||||||
Transfers to other balance sheet line items | 0 | 0 | ||||||||||
Transfers into Level 3 | 0 | 0 | ||||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | $ 0 | $ 0 | ||||||||||
[1] | Includes issuances, fair value changes, and expirations. Amount related to residential IRLCs is recognized in Mortgage production related income, amount related to commercial IRLCs is recognized in Commercial real estate related income, and amount related to Visa derivative liability is recognized in Other noninterest expense. Included $10 million and $7 million in earnings during the three and nine months ended September 30, 2018, respectively, related to changes in unrealized gains on net derivative instruments still held at September 30, 2018. | |||||||||||
[2] | Includes issuances, fair value changes, and expirations. Amount related to residential IRLCs is recognized in Mortgage production related income, amount related to commercial IRLCs is recognized in Commercial real estate related income, and amount related to Visa derivative liability is recognized in Other noninterest expense. Included $19 million and $17 million in earnings during the three and nine months ended September 30, 2017, respectively, related to changes in unrealized gains on net derivative instruments still held at September 30, 2017. | |||||||||||
[3] | Amounts recognized in OCI are included in change in net unrealized gains on securities AFS, net of tax. | |||||||||||
[4] | Amounts are generally included in Mortgage production related income; however, the mark on certain fair value loans is included in Other noninterest income. Included $0 and $4 million in earnings during the three and nine months ended September 30, 2018, respectively, related to changes in unrealized losses on LHFI still held at September 30, 2018. | |||||||||||
[5] | Amounts are generally included in Mortgage production related income; however, the mark on certain fair value loans is included in Other noninterest income. Included $0 and $1 million in earnings during the three and nine months ended September 30, 2017, respectively, related to changes in unrealized gains on LHFI still held at September 30, 2017. |
Carrying Value of Those Assets
Carrying Value of Those Assets Measured at Fair Value on a Non-Recurring Basis (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Transfer of Portfolio Loans and Leases to Held-for-sale | $ 122 | $ 91 | $ 449 | $ 218 | |
Allowance for Loan and Lease Losses, Write-offs | 122 | $ 109 | 329 | $ 357 | |
Loans Held-For-Sale [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 12 | 12 | $ 13 | ||
Asset Impairment Charges | 0 | 0 | 0 | ||
Loans Held-For-Sale [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 0 | 0 | 0 | ||
Loans Held-For-Sale [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 12 | 12 | 13 | ||
Loans Held-For-Sale [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 0 | 0 | 0 | ||
Loans Held-For-Investment [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 17 | 17 | 49 | ||
Asset Impairment Charges | 0 | 0 | 0 | ||
Loans Held-For-Investment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 0 | 0 | 0 | ||
Loans Held-For-Investment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 0 | 0 | 0 | ||
Loans Held-For-Investment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 17 | 17 | 49 | ||
Other Real Estate Owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 22 | 22 | 24 | ||
Asset Impairment Charges | (3) | (4) | (4) | ||
Other Real Estate Owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 0 | 0 | 0 | ||
Other Real Estate Owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 1 | 1 | 1 | ||
Other Real Estate Owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 21 | 21 | 23 | ||
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 63 | 63 | 53 | ||
Asset Impairment Charges | (43) | ||||
Assets, Fair Value Adjustment | 3 | 18 | |||
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 0 | 0 | 0 | ||
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 44 | 44 | 4 | ||
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 19 | 19 | 49 | ||
Nonmarketable Equity Securities [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Adjustment | (7) | (30) | |||
Other Assets [Member] | Software and Software Development Costs [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Asset Impairment Charges | 0 | (8) | (28) | ||
Other Assets [Member] | Building [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Asset Impairment Charges | $ (10) | ||||
Other Assets [Member] | Land [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Asset Impairment Charges | $ 0 | $ 0 |
Carrying Amounts and Fair Value
Carrying Amounts and Fair Values of the Company's Financial Instruments (Detail) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 | |||
Financial assets | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | [1] | $ 5,676,000,000 | $ 5,093,000,000 | ||
Available-for-sale Securities | [2],[3] | 30,984,000,000 | 30,947,000,000 | [4] | |
Debt Securities, Held-to-maturity, Fair Value | 0 | 0 | |||
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group | [5] | 1,961,000,000 | 2,290,000,000 | ||
Loans Held-for-sale, Fair Value Disclosure | 1,822,000,000 | 1,577,000,000 | |||
Loans and Leases Receivable, Excluding Fair Value Loans | 147,047,000,000 | 142,985,000,000 | |||
Loans Receivable, Fair Value Disclosure | 168,000,000 | 196,000,000 | |||
Other Assets | [2] | 9,432,000,000 | 9,418,000,000 | ||
Other Assets, Fair Value Disclosure | 56,000,000 | ||||
Financial liabilities | |||||
Deposits | 160,378,000,000 | 160,780,000,000 | |||
Long-term Debt | [6] | 14,289,000,000 | 9,785,000,000 | ||
Fair Value, Inputs, Level 1 [Member] | |||||
Financial assets | |||||
Cash and Cash Equivalents, Fair Value Disclosure | 7,605,000,000 | 6,912,000,000 | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 638,000,000 | 608,000,000 | |||
Available-for-sale Securities | 4,133,000,000 | 4,331,000,000 | |||
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group | 0 | 0 | |||
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 | |||
Loans and Leases Receivable, Excluding Fair Value Loans | 0 | 0 | |||
Loans Receivable, Fair Value Disclosure | 0 | 0 | |||
Other Assets | 0 | 0 | |||
Other Assets, Fair Value Disclosure | 92,000,000 | 56,000,000 | |||
Financial liabilities | |||||
Time Deposits | 0 | 0 | |||
Short-term Debt, Fair Value | 0 | 0 | |||
Long-term Debt | 0 | 0 | |||
Long-term Debt, Fair Value | 0 | 0 | |||
Trading liabilities | 886,000,000 | 769,000,000 | |||
Fair Value, Inputs, Level 2 [Member] | |||||
Financial assets | |||||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 5,026,000,000 | 4,469,000,000 | |||
Available-for-sale Securities | 26,851,000,000 | 26,544,000,000 | |||
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group | 110,000,000 | 662,000,000 | |||
Loans Held-for-sale, Fair Value Disclosure | 1,822,000,000 | 1,577,000,000 | |||
Loans and Leases Receivable, Excluding Fair Value Loans | 0 | 0 | |||
Loans Receivable, Fair Value Disclosure | 0 | 0 | |||
Other Assets | 0 | 0 | |||
Other Assets, Fair Value Disclosure | 0 | 0 | |||
Financial liabilities | |||||
Time Deposits | 14,889,000,000 | 11,906,000,000 | |||
Short-term Debt, Fair Value | 7,940,000,000 | 4,781,000,000 | |||
Long-term Debt | 12,396,000,000 | 8,304,000,000 | |||
Long-term Debt, Fair Value | 235,000,000 | 530,000,000 | |||
Trading liabilities | 968,000,000 | 498,000,000 | |||
Fair Value, Inputs, Level 3 [Member] | |||||
Financial assets | |||||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 12,000,000 | 16,000,000 | |||
Available-for-sale Securities | 0 | 72,000,000 | |||
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group | 32,000,000 | 54,000,000 | |||
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 | |||
Loans and Leases Receivable, Excluding Fair Value Loans | 144,480,000,000 | 141,379,000,000 | |||
Loans Receivable, Fair Value Disclosure | 168,000,000 | 196,000,000 | |||
Other Assets | 545,000,000 | 418,000,000 | |||
Other Assets, Fair Value Disclosure | 0 | 0 | |||
Financial liabilities | |||||
Time Deposits | 0 | 0 | |||
Short-term Debt, Fair Value | 0 | 0 | |||
Long-term Debt | 1,729,000,000 | 1,058,000,000 | |||
Long-term Debt, Fair Value | 0 | 0 | |||
Trading liabilities | 9,000,000 | 16,000,000 | |||
Reported Value Measurement [Member] | |||||
Financial assets | |||||
Cash and Cash Equivalents, Fair Value Disclosure | 7,605,000,000 | 6,912,000,000 | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 5,676,000,000 | 5,093,000,000 | |||
Available-for-sale Securities | 30,984,000,000 | 30,947,000,000 | |||
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group | 139,000,000 | 713,000,000 | |||
Loans Held-for-sale, Fair Value Disclosure | 1,822,000,000 | 1,577,000,000 | |||
Loans and Leases Receivable, Excluding Fair Value Loans | 145,424,000,000 | 141,250,000,000 | |||
Loans Receivable, Fair Value Disclosure | 168,000,000 | 196,000,000 | |||
Other Assets | 545,000,000 | [7] | 418,000,000 | [8] | |
Other Assets, Fair Value Disclosure | 92,000,000 | [7] | 56,000,000 | [8] | |
Financial liabilities | |||||
Time Deposits | 15,166,000,000 | 12,076,000,000 | |||
Short-term Debt, Fair Value | 7,940,000,000 | 4,781,000,000 | |||
Long-term Debt | 14,054,000,000 | 9,255,000,000 | |||
Long-term Debt, Fair Value | 235,000,000 | 530,000,000 | |||
Trading liabilities | 1,863,000,000 | 1,283,000,000 | |||
Estimate of Fair Value, Fair Value Disclosure [Member] | |||||
Financial assets | |||||
Cash and Cash Equivalents, Fair Value Disclosure | 7,605,000,000 | 6,912,000,000 | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 5,676,000,000 | 5,093,000,000 | |||
Available-for-sale Securities | 30,984,000,000 | 30,947,000,000 | |||
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group | 142,000,000 | 716,000,000 | |||
Loans Held-for-sale, Fair Value Disclosure | 1,822,000,000 | 1,577,000,000 | |||
Loans and Leases Receivable, Excluding Fair Value Loans | 144,480,000,000 | 141,379,000,000 | |||
Loans Receivable, Fair Value Disclosure | 168,000,000 | 196,000,000 | |||
Other Assets | 545,000,000 | [7] | 418,000,000 | [8] | |
Other Assets, Fair Value Disclosure | 92,000,000 | [7] | 56,000,000 | [8] | |
Financial liabilities | |||||
Time Deposits | 14,889,000,000 | 11,906,000,000 | |||
Short-term Debt, Fair Value | 7,940,000,000 | 4,781,000,000 | |||
Long-term Debt | 14,125,000,000 | 9,362,000,000 | |||
Long-term Debt, Fair Value | 235,000,000 | 530,000,000 | |||
Trading liabilities | 1,863,000,000 | 1,283,000,000 | |||
Brokered Time Deposits [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Financial liabilities | |||||
Deposits | 0 | 0 | |||
Deposits, Fair Value Disclosure | 0 | 0 | |||
Brokered Time Deposits [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Financial liabilities | |||||
Deposits | 738,000,000 | 725,000,000 | |||
Deposits, Fair Value Disclosure | 384,000,000 | 236,000,000 | |||
Brokered Time Deposits [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Financial liabilities | |||||
Deposits | 0 | 0 | |||
Deposits, Fair Value Disclosure | 0 | 0 | |||
Brokered Time Deposits [Member] | Reported Value Measurement [Member] | |||||
Financial liabilities | |||||
Deposits | 662,000,000 | 749,000,000 | |||
Deposits, Fair Value Disclosure | 384,000,000 | 236,000,000 | |||
Brokered Time Deposits [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | |||||
Financial liabilities | |||||
Deposits | 738,000,000 | 725,000,000 | |||
Deposits, Fair Value Disclosure | $ 384,000,000 | $ 236,000,000 | |||
[1] | Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,362 million and $1,086 million at September 30, 2018 and December 31, 2017, respectively. | ||||
[2] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets. Reclassifications have been made to previously reported amounts for comparability. | ||||
[3] | Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $164 million and $223 million at September 30, 2018 and December 31, 2017, respectively. | ||||
[4] | Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability. See Note 9, "Other Assets," for additional information. | ||||
[5] | Includes $1.8 billion and $1.6 billion of LHFS measured at fair value at September 30, 2018 and December 31, 2017, respectively. | ||||
[6] | Includes debt of consolidated VIEs of $168 million and $189 million at September 30, 2018 and December 31, 2017, respectively. | ||||
[7] | Other financial assets recorded at amortized cost consist of FHLB of Atlanta stock and Federal Reserve Bank of Atlanta stock. Other financial assets recorded at fair value consist of mutual fund investments and other equity securities with readily determinable fair values. | ||||
[8] | Other financial assets recorded at amortized cost consist of FHLB of Atlanta stock and Federal Reserve Bank of Atlanta stock. Other financial assets recorded at fair value consist of mutual fund investments and other equity securities with readily determinable fair values. |
Contingencies - Additional Info
Contingencies - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Document Period End Date | Sep. 30, 2018 |
Minimum [Member] | |
Aggregate range of reasonably possible losses on legal matters in excess of the accrued liability | $ 0 |
Maximum [Member] | |
Aggregate range of reasonably possible losses on legal matters in excess of the accrued liability | 160,000,000 |
LR Trust v. SunTrust Banks, Inc., et al. [Member] | |
Loss Contingency, Damages Awarded, Value | 585,000 |
Cash payment for litigation [Member] | Potential Mortgage Servicing Settlement and Claims [Member] | |
Loss Contingency, Damages Awarded, Value | 50,000,000 |
Consumer relief obligation [Member] | Potential Mortgage Servicing Settlement and Claims [Member] | |
Loss Contingency, Damages Awarded, Value | $ 500,000,000 |
Business Segment Reporting (Det
Business Segment Reporting (Detail) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | [1],[2] | Sep. 30, 2018USD ($)segments | Sep. 30, 2017USD ($) | [3],[4] | |||
Number of Operating Segments | segments | 2 | |||||||
Average Total Loans Held for Investment | $ 145,995 | $ 144,706 | $ 144,368 | $ 144,276 | ||||
Average Total Deposits | 159,348 | 159,419 | 159,159 | 159,145 | ||||
Average Total Assets | 207,395 | 205,738 | 205,370 | 204,833 | ||||
Average Total Liabilities | 183,120 | 181,165 | 181,046 | 180,702 | ||||
Average Total Equity | 24,275 | 24,573 | 24,324 | 24,131 | ||||
Interest Income (Expense), Net | 1,512 | 1,430 | 4,440 | 4,199 | ||||
Fully Taxable Equivalent Adjustment | 22 | 37 | 65 | 107 | ||||
Net Interest Income Including Fully Taxable Equivalent Adjustment | 1,534 | [5] | 1,467 | [6] | 4,505 | [7] | 4,306 | [8] |
Provision for Loan, Lease, and Other Losses | 61 | [9] | 120 | [10] | 121 | [11] | 330 | [12] |
Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment | 1,473 | 1,347 | 4,384 | 3,976 | ||||
Noninterest Income | 782 | [13] | 846 | [14] | 2,408 | [15] | 2,520 | [16] |
Noninterest Expense | 1,384 | 1,391 | 4,191 | 4,243 | ||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 871 | 802 | 2,601 | 2,253 | ||||
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal | 117 | [17] | 262 | [18] | 477 | [19] | 713 | [20] |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 754 | 540 | 2,124 | 1,540 | ||||
Net Income (Loss) Attributable to Noncontrolling Interest | 2 | 2 | 7 | 7 | ||||
Net Income (Loss) Attributable to Parent | 752 | 538 | 2,117 | 1,533 | ||||
Consumer [Member] | ||||||||
Average Total Loans Held for Investment | 75,414 | 74,742 | 75,122 | 73,613 | ||||
Average Total Deposits | 111,930 | 109,774 | 111,025 | 109,301 | ||||
Average Total Assets | 86,112 | 84,345 | 85,124 | 83,310 | ||||
Average Total Liabilities | 112,879 | 110,713 | 111,928 | 110,264 | ||||
Average Total Equity | 0 | 0 | 0 | 0 | ||||
Interest Income (Expense), Net | 1,079 | 999 | 3,144 | 2,915 | ||||
Fully Taxable Equivalent Adjustment | 0 | 0 | 0 | 0 | ||||
Net Interest Income Including Fully Taxable Equivalent Adjustment | 1,079 | [5] | 999 | [6] | 3,144 | [7] | 2,915 | [8] |
Provision for Loan, Lease, and Other Losses | 36 | [9] | 140 | [10] | 101 | [11] | 310 | [12] |
Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment | 1,043 | 859 | 3,043 | 2,605 | ||||
Noninterest Income | 445 | 482 | 1,349 | 1,427 | ||||
Noninterest Expense | 994 | 927 | 2,995 | 2,939 | ||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 494 | 414 | 1,397 | 1,093 | ||||
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal | 113 | [17] | 150 | [18] | 316 | [19] | 395 | [20] |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 381 | 264 | 1,081 | 698 | ||||
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | 0 | 0 | 0 | ||||
Net Income (Loss) Attributable to Parent | 381 | 264 | 1,081 | 698 | ||||
Wholesale [Member] | ||||||||
Average Total Loans Held for Investment | 70,485 | 68,568 | 69,155 | 69,303 | ||||
Average Total Deposits | 47,773 | 49,515 | 48,259 | 49,724 | ||||
Average Total Assets | 84,766 | 82,573 | 83,001 | 82,916 | ||||
Average Total Liabilities | 54,284 | 55,054 | 54,383 | 55,322 | ||||
Average Total Equity | 0 | 0 | 0 | 0 | ||||
Interest Income (Expense), Net | 550 | 511 | 1,605 | 1,490 | ||||
Fully Taxable Equivalent Adjustment | 22 | 36 | 63 | 105 | ||||
Net Interest Income Including Fully Taxable Equivalent Adjustment | 572 | [5] | 547 | [6] | 1,668 | [7] | 1,595 | [8] |
Provision for Loan, Lease, and Other Losses | 25 | [9] | (19) | [10] | 19 | [11] | 19 | [12] |
Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment | 547 | 566 | 1,649 | 1,576 | ||||
Noninterest Income | 373 | 397 | 1,124 | 1,169 | ||||
Noninterest Expense | 433 | 421 | 1,307 | 1,284 | ||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 487 | 542 | 1,466 | 1,461 | ||||
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal | 115 | [17] | 201 | [18] | 346 | [19] | 544 | [20] |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 372 | 341 | 1,120 | 917 | ||||
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | 0 | 0 | 0 | ||||
Net Income (Loss) Attributable to Parent | 372 | 341 | 1,120 | 917 | ||||
Corporate Other [Member] | ||||||||
Average Total Loans Held for Investment | 96 | 1,399 | 93 | 1,362 | ||||
Average Total Deposits | 212 | 189 | 205 | 149 | ||||
Average Total Assets | 35,612 | 36,286 | 35,563 | 35,903 | ||||
Average Total Liabilities | 16,481 | 15,406 | 15,038 | 15,110 | ||||
Average Total Equity | 0 | 0 | 0 | 0 | ||||
Interest Income (Expense), Net | (49) | (5) | (120) | 29 | ||||
Fully Taxable Equivalent Adjustment | 1 | 1 | 2 | 2 | ||||
Net Interest Income Including Fully Taxable Equivalent Adjustment | (48) | [5] | (4) | [6] | (118) | [7] | 31 | [8] |
Provision for Loan, Lease, and Other Losses | 0 | [9] | 0 | [10] | 0 | [11] | 0 | [12] |
Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment | (48) | (4) | (118) | 31 | ||||
Noninterest Income | 10 | 19 | 50 | 59 | ||||
Noninterest Expense | (38) | 48 | (95) | 34 | ||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 0 | (33) | 27 | 56 | ||||
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal | (52) | [17] | (18) | [18] | (29) | [19] | (11) | [20] |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 52 | (15) | 56 | 67 | ||||
Net Income (Loss) Attributable to Noncontrolling Interest | 2 | 2 | 7 | 7 | ||||
Net Income (Loss) Attributable to Parent | 50 | (17) | 49 | 60 | ||||
Reconciling Items | ||||||||
Average Total Loans Held for Investment | 0 | (3) | (2) | (2) | ||||
Average Total Deposits | (567) | (59) | (330) | (29) | ||||
Average Total Assets | 905 | 2,534 | 1,682 | 2,704 | ||||
Average Total Liabilities | (524) | (8) | (303) | 6 | ||||
Average Total Equity | 24,275 | 24,573 | 24,324 | 24,131 | ||||
Interest Income (Expense), Net | (68) | (75) | (189) | (235) | ||||
Fully Taxable Equivalent Adjustment | (1) | 0 | 0 | 0 | ||||
Net Interest Income Including Fully Taxable Equivalent Adjustment | (69) | [5] | (75) | [6] | (189) | [7] | (235) | [8] |
Provision for Loan, Lease, and Other Losses | 0 | [9] | (1) | [10] | 1 | [11] | 1 | [12] |
Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment | (69) | (74) | (190) | (236) | ||||
Noninterest Income | (46) | (52) | (115) | (135) | ||||
Noninterest Expense | (5) | (5) | (16) | (14) | ||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | (110) | (121) | (289) | (357) | ||||
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal | (59) | [17] | (71) | [18] | (156) | [19] | (215) | [20] |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | (51) | (50) | (133) | (142) | ||||
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | 0 | 0 | 0 | ||||
Net Income (Loss) Attributable to Parent | $ (51) | $ (50) | $ (133) | $ (142) | ||||
[1] | During the fourth quarter of 2017, the Company sold PAC, the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC. | |||||||
[2] | During the second quarter of 2018, certain of the Company's business banking clients were transferred from the Wholesale business segment to the Consumer business segment. For all periods prior to the second quarter of 2018, the corresponding financial results have been transferred to the Consumer business segment for comparability purposes. | |||||||
[3] | During the fourth quarter of 2017, the Company sold PAC, the results of which were previously reported within the Wholesale business segment. For all periods prior to January 1, 2018, PAC's financial results, including the gain on sale, have been transferred to Corporate Other for enhanced comparability of the Wholesale business segment excluding PAC. | |||||||
[4] | During the second quarter of 2018, certain of the Company's business banking clients were transferred from the Wholesale business segment to the Consumer business segment. For all periods prior to the second quarter of 2018, the corresponding financial results have been transferred to the Consumer business segment for comparability purposes. | |||||||
[5] | Presented on a matched maturity funds transfer price basis for the segments. | |||||||
[6] | Presented on a matched maturity funds transfer price basis for the segments. | |||||||
[7] | Presented on a matched maturity funds transfer price basis for the segments. | |||||||
[8] | Presented on a matched maturity funds transfer price basis for the segments. | |||||||
[9] | Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances. | |||||||
[10] | Provision/(benefit) for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision/(benefit) attributable to quarterly changes in the ALLL and unfunded commitment reserve balances. | |||||||
[11] | Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances. | |||||||
[12] | Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balan | |||||||
[13] | Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers, except for out of scope amounts. | |||||||
[14] | Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition, and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers. | |||||||
[15] | Amounts are presented in accordance with ASC Topic 606, Revenue from Contracts with Customers, except for out of scope amounts. | |||||||
[16] | Amounts for periods prior to January 1, 2018 are presented in accordance with ASC Topic 605, Revenue Recognition, and have not been restated to conform with ASC Topic 606, Revenue from Contracts with Customers. | |||||||
[17] | Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals. | |||||||
[18] | Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals. | |||||||
[19] | Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals. | |||||||
[20] | Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals. |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | ||
Accumulated Other Comprehensive Income (Loss), Debt Securities, Available-for-sale, Adjustment, after Tax | $ (697) | $ 35 | $ (697) | $ 35 | $ (519) | $ (1) | $ (5) | $ (62) | |
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax | (479) | (170) | (479) | (170) | (459) | (244) | (168) | (157) | |
Accumulated Other Comprehensive Income (Loss), Brokered Time Deposits, net of tax | (1) | (1) | (1) | (1) | (1) | (1) | (1) | (1) | |
Accumulated Other Comprehensive Income (Loss), Long-term Debt, Net of Tax | (2) | (6) | (2) | (6) | (2) | (4) | (7) | (7) | |
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax | (695) | (593) | (695) | (593) | (698) | (570) | (596) | (594) | |
Accumulated Other Comprehensive Income (Loss), Net of Tax | (1,874) | (735) | (1,874) | (735) | $ (1,679) | $ (820) | $ (777) | $ (821) | |
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income | [1] | (10) | |||||||
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax | (178) | 40 | (725) | 98 | |||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | (37) | 6 | (209) | 38 | |||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Brokered Time Deposits Arising During Period, Net of Tax | 0 | 0 | 0 | 0 | |||||
Other Comprehensive Income (Loss), Unrealized Credit Risk Gain (Loss) on Long-term Debt Arising During Period, Net of Tax | 0 | 1 | 3 | 1 | |||||
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, after Tax | 0 | 0 | (7) | (9) | |||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (215) | 47 | (938) | 128 | |||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | 0 | 0 | (1) | (1) | |||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 17 | (8) | 30 | (51) | |||||
Other Comprehensive Income (Loss), Reclassification from AOCI on Brokered Time Deposits, Net of Tax | 0 | 0 | 0 | 0 | |||||
Other Comprehensive Income Loss Reclassfication Adjustment From AOCI on Long Term Debt, Net of Tax | 0 | 0 | 0 | 0 | |||||
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax | 3 | 3 | 9 | 10 | |||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 20 | (5) | 38 | (42) | |||||
Other Comprehensive Income (Loss), Securities, Available-for-sale, Adjustment, after Tax | (178) | 40 | (726) | 97 | |||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | (20) | (2) | (179) | (13) | |||||
Other Comprehensive Income (Loss), Brokered Time Deposits, Net of Tax | 0 | 0 | 0 | 0 | |||||
Other Comprehensive Income (Loss), Long Term Debt, Adjustment, Net of Tax | 0 | (1) | (3) | (1) | |||||
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax | (3) | (3) | (2) | (1) | |||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | $ (195) | $ 42 | (900) | $ 86 | |||||
AOCI Attributable to Parent [Member] | |||||||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income | [1],[2] | (154) | |||||||
Available-for-sale Securities [Member] | AOCI Attributable to Parent [Member] | |||||||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income | [2] | 30 | |||||||
Derivative [Member] | AOCI Attributable to Parent [Member] | |||||||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income | [2] | (56) | |||||||
Brokered Time Deposits [Member] | AOCI Attributable to Parent [Member] | |||||||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income | [2] | 0 | |||||||
Long-term Debt [Member] | AOCI Attributable to Parent [Member] | |||||||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income | [2] | (1) | |||||||
Defined Benefit Plan [Member] | AOCI Attributable to Parent [Member] | |||||||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income | [2] | $ (127) | |||||||
[1] | Related to the Company's adoption of ASU 2014-09, ASU 2016-01, ASU 2017-12, and ASU 2018-02 on January 1, 2018. See Note 1, "Significant Accounting Policies," for additional information. | ||||||||
[2] | Related to the Company's adoption of ASU 2018-02 on January 1, 2018. See Note 1, "Significant Accounting Policies," for additional information. |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Income Reclassifications out of AOCI (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax | $ 0 | $ 0 | $ (1) | $ (1) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | 0 | 0 | 0 | 0 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | 0 | 0 | 1 | 1 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax | 22 | (13) | 39 | (81) |
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Tax | (5) | 5 | (9) | 30 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | (17) | 8 | (30) | 51 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax | (2) | (1) | (5) | (4) |
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Actuarial Gain (Loss), Before Tax | 6 | 6 | 17 | 18 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax | 4 | 5 | 12 | 14 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, Tax | (1) | (2) | (3) | (4) |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax | 3 | 3 | 9 | 10 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | $ 20 | $ (5) | $ 38 | $ (42) |