Document and Entity Information
Document and Entity Information - $ / shares | 9 Months Ended | |||
Sep. 30, 2019 | Oct. 28, 2019 | Dec. 31, 2018 | ||
Entity Registrant Name | SunTrust Banks, Inc. | |||
Entity Central Index Key | 0000750556 | |||
Document Type | 10-Q | |||
Document Quarterly Report | true | |||
Document Transition Report | false | |||
Document Period End Date | Sep. 30, 2019 | |||
Entity File Number | 001-08918 | |||
Entity Incorporation, State or Country Code | GA | |||
Entity Tax Identification Number | 58-1575035 | |||
Entity Address, Address Line One | 303 Peachtree Street, N.E. | |||
Entity Address, City or Town | Atlanta | |||
Entity Address, State or Province | GA | |||
Entity Address, Postal Zip Code | 30308 | |||
City Area Code | (800) | |||
Local Phone Number | 786-8787 | |||
Entity Current Reporting Status | Yes | |||
Entity Interactive Data Current | Yes | |||
Entity Filer Category | Large Accelerated Filer | |||
Entity Small Business | false | |||
Entity Emerging Growth Company | false | |||
Entity Shell Company | false | |||
Current Fiscal Year End Date | --12-31 | |||
Document Fiscal Year Focus | 2019 | |||
Document Fiscal Period Focus | Q3 | |||
Amendment Flag | false | |||
Entity Common Stock, Shares Outstanding | 444,039,931 | |||
Common Stock, Par or Stated Value Per Share | $ 1 | $ 1 | ||
NEW YORK STOCK EXCHANGE, INC. [Member] | ||||
Title of 12(b) Security | Common Stock | |||
Trading Symbol | STI | |||
Security Exchange Name | NYSE | |||
Preferred Class A [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | ||||
Title of 12(b) Security | [1] | Perpetual Preferred Stock, Series A | ||
Trading Symbol | STI PRA | |||
Security Exchange Name | NYSE | |||
Preferred Class B [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | ||||
Title of 12(b) Security | [2] | Perpetual Preferred Stock, Series B | ||
Trading Symbol | STI/PRI | |||
Security Exchange Name | NYSE | |||
[1] | Depositary Shares, Each Representing a 1/4000 th Interest in a Share of Perpetual Preferred Stock, Series A . | |||
[2] | 5.853% Fixed-to-Floating Rate Normal Preferred Purchase Securities of SunTrust Preferred Capital I (representing interests in shares of Perpetual Preferred Stock, Series B) . |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Millions | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | ||||||
Interest Income | |||||||||
Interest and Fee Income, Loans and Leases Held-in-portfolio | $ 1,708 | $ 1,549 | $ 5,125 | $ 4,424 | |||||
Interest and fees on loans held for sale | 21 | 22 | 50 | 67 | |||||
Interest and Dividend Income, Securities, Available-for-sale | 215 | 212 | 659 | 628 | |||||
Trading account interest and other | 61 | 51 | 179 | 142 | |||||
Total interest income | 2,005 | 1,834 | 6,013 | 5,261 | |||||
Interest Expense | |||||||||
Interest Expense, Deposits | 293 | 193 | 811 | 484 | |||||
Interest Expense, Long-term Debt | 150 | 95 | 425 | 252 | |||||
Interest on other borrowings | 52 | 34 | 188 | 85 | |||||
Total interest expense | 495 | 322 | 1,424 | 821 | |||||
Net, interest income | 1,510 | 1,512 | 4,589 | 4,440 | |||||
Provision for Loan, Lease, and Other Losses | 132 | [1] | 61 | [2] | 412 | [3] | 121 | [4] | |
Interest Income (Expense), after Provision for Loan Loss | 1,378 | 1,451 | 4,177 | 4,319 | |||||
Noninterest Income | |||||||||
Service charges on deposit accounts | 141 | 144 | 417 | 433 | |||||
Other charges and fees | 90 | 89 | 265 | 264 | |||||
Card fees | 83 | 75 | 247 | 241 | |||||
Investment Banking Revenue | 159 | 150 | 431 | 453 | |||||
Trading Gain (Loss) | 29 | 42 | 144 | 137 | |||||
Gain (Loss) Related to Litigation Settlement | 5 | 0 | 210 | 0 | |||||
Mortgage Related Income | [5] | 106 | 83 | 294 | 256 | ||||
Trust and investment management income | 78 | 80 | 222 | 230 | |||||
Retail investment services | 76 | 74 | 220 | 219 | |||||
Commercial Real Estate Related Income | 32 | 24 | 106 | 66 | |||||
Debt and Equity Securities, Gain (Loss) | 4 | 0 | (38) | 1 | |||||
Noninterest Income, Other Operating Income | 40 | 21 | 135 | 108 | |||||
Noninterest Income | 843 | 782 | 2,653 | 2,408 | |||||
Noninterest Expense | |||||||||
Employee compensation | 744 | 719 | 2,149 | 2,141 | |||||
Other Labor-related Expenses | 97 | 76 | 344 | 310 | |||||
Outside processing and software | 241 | 234 | 720 | 667 | |||||
Charitable contribution to the SunTrust Foundation | 0 | 0 | 205 | 0 | |||||
Net occupancy expense | 102 | 86 | 305 | 270 | |||||
Merger-Related Costs | 22 | 0 | 75 | 0 | |||||
Marketing and Advertising Expense | 44 | 45 | 131 | 127 | |||||
Equipment Expense | 36 | 40 | 114 | 124 | |||||
Federal Deposit Insurance Corporation Premium Expense | 17 | 39 | 53 | 118 | |||||
Operating losses | 23 | 18 | 60 | 40 | |||||
Amortization | 21 | 19 | 54 | 51 | |||||
Other Noninterest Expense | 127 | 108 | 392 | 343 | |||||
Noninterest Expense | 1,474 | 1,384 | 4,602 | 4,191 | |||||
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest | 747 | 849 | 2,228 | 2,536 | |||||
Income Tax Expense (Benefit) | 122 | 95 | 330 | 412 | |||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 625 | 754 | 1,898 | 2,124 | |||||
Net Income (Loss) Attributable to Noncontrolling Interest | 2 | 2 | 7 | 7 | |||||
Net Income (Loss) Attributable to Parent | 623 | 752 | 1,891 | 2,117 | |||||
Preferred Stock Dividends and Other Adjustments | 26 | 26 | 77 | 81 | |||||
Net Income (Loss) Available to Common Stockholders, Basic | $ 597 | $ 726 | $ 1,814 | $ 2,036 | |||||
Earnings Per Share, Diluted | $ 1.34 | $ 1.56 | $ 4.06 | $ 4.34 | |||||
Earnings Per Share, Basic | 1.35 | 1.58 | 4.09 | 4.38 | |||||
Common Stock, Dividends, Per Share, Declared | $ 0.56 | $ 0.50 | $ 1.56 | $ 1.30 | |||||
Weighted Average Number of Shares Outstanding, Diluted | 446,962 | 464,164 | 446,673 | 469,006 | |||||
Weighted Average Number of Shares Outstanding, Basic | 443,960 | 460,252 | 443,779 | 464,804 | |||||
[1] | 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. | ||||||||
[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] | 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. | ||||||||
[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] | Beginning with the 2018 Form 10-K, the Company began presenting Mortgage production related income and Mortgage servicing related income as a single line item on the Consolidated Statements of Income titled Mortgage-related income. Prior periods have been conformed to this updated presentation for comparability. |
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, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Statement of Comprehensive Income [Abstract] | ||||
Net Income (Loss) Attributable to Parent | $ 623 | $ 752 | $ 1,891 | $ 2,117 |
Other Comprehensive Income (Loss), Securities, Available-for-sale, Adjustment, after Tax | 166 | (178) | 960 | (726) |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 82 | (20) | 302 | (179) |
Other Comprehensive Income (Loss), Brokered Time Deposits, Net of Tax | 0 | 0 | (1) | 0 |
Other Comprehensive Income (Loss), Long Term Debt, Adjustment, Net of Tax | 0 | 0 | 0 | 3 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 4 | 3 | 10 | 2 |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 252 | (195) | 1,271 | (900) |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $ 875 | $ 557 | $ 3,162 | $ 1,217 |
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, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Statement of Comprehensive Income [Abstract] | ||||
Other Comprehensive Income (Loss), Securities, Available-for-sale, Tax | $ 51 | $ (55) | $ 294 | $ (223) |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax | 25 | (6) | 93 | (55) |
Other Comprehensive Income (Loss), Brokered Time Deposits, Tax | 0 | 0 | 0 | 0 |
Other Comprehensive Income (Loss), Long Term Debt, Adjustment, Tax | 0 | 0 | 0 | 1 |
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, Tax | $ 1 | $ 1 | $ 4 | $ 1 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) shares in Thousands, $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 | |
Assets | |||
Cash and Due from Banks | $ 7,844 | $ 5,791 | |
Federal Funds Sold and Securities Purchased under Agreements to Resell | 1,314 | 1,679 | |
Interest-bearing Deposits in Banks and Other Financial Institutions | 26 | 25 | |
Cash and cash equivalents | 9,184 | 7,495 | |
Debt Securities, Trading, and Equity Securities, FV-NI | [1] | 7,104 | 5,506 |
Available-for-sale Securities | [2] | 31,358 | 31,442 |
Loans Held for Sale | [3] | 2,006 | 1,468 |
Loans and Leases Receivable, Gross | [4] | 158,455 | 151,839 |
Loans and Leases Receivable, Allowance | (1,699) | (1,615) | |
Net loans | 156,756 | 150,224 | |
Property, Plant and Equipment, Net | 1,985 | 2,024 | |
Goodwill | 6,331 | 6,331 | |
Intangible Assets, Net (Excluding Goodwill) | 1,648 | 2,062 | |
Other Assets | 10,996 | 8,991 | |
Total assets | 227,368 | 215,543 | |
Liabilities and Shareholders' Equity | |||
Noninterest-bearing consumer and commercial deposits | 40,360 | 40,770 | |
Interest-bearing Deposit Liabilities | 127,311 | 121,819 | |
Total deposits | 167,671 | 162,589 | |
Federal Funds Purchased | 254 | 2,141 | |
Securities Sold under Agreements to Repurchase | 1,829 | 1,774 | |
Other Short-term Borrowings | 5,061 | 4,857 | |
Long-term Debt | [5] | 20,369 | 15,072 |
Trading liabilities | 1,380 | 1,604 | |
Other Liabilities | 4,315 | 3,226 | |
Total liabilities | 200,879 | 191,263 | |
Preferred Stock, Value, Outstanding | 2,025 | 2,025 | |
Common Stock, Value, Outstanding | 553 | 553 | |
Additional Paid in Capital | 8,989 | 9,022 | |
Retained earnings | 20,664 | 19,522 | |
Treasury Stock, Value | [6] | (5,593) | (5,422) |
Accumulated Other Comprehensive Income (Loss), Net of Tax | (149) | (1,420) | |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 26,489 | 24,280 | |
Liabilities and Equity | $ 227,368 | $ 215,543 | |
Common Stock, Shares, Outstanding | [7] | 444,033 | 446,888 |
Common shares authorized | 750,000 | 750,000 | |
Preferred Stock, Shares Outstanding | 20 | 20 | |
Preferred Stock, Shares Authorized | 50,000 | 50,000 | |
Treasury shares of common stock | 108,750 | 105,896 | |
Treasury Stock and Other | |||
Liabilities and Shareholders' Equity | |||
Treasury Stock, Value | $ (5,693) | ||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | [8] | (5,593) | $ (5,422) |
Stockholders' Equity Attributable to Noncontrolling Interest | 101 | 103 | |
Variable Interest Entity, Primary Beneficiary [Member] | |||
Assets | |||
Loans and Leases Receivable, Gross | 136 | 153 | |
Liabilities and Shareholders' Equity | |||
Long-term Debt | $ 143 | $ 161 | |
Restricted Stock [Member] | |||
Liabilities and Shareholders' Equity | |||
Common Stock, Shares, Outstanding | 4 | 7 | |
Trading Assets [Member] | |||
Liabilities and Shareholders' Equity | |||
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value | $ 1,284 | $ 1,442 | |
Available-for-sale Securities [Member] | |||
Liabilities and Shareholders' Equity | |||
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value | 151 | 222 | |
Fair Value, Recurring [Member] | |||
Assets | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 7,104 | 5,506 | |
Available-for-sale Securities | $ 31,358 | $ 31,442 | |
[1] | Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,284 million and $1,442 million at September 30, 2019 and December 31, 2018, respectively. | ||
[2] | Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $151 million and $222 million at September 30, 2019 and December 31, 2018, respectively. | ||
[3] | Includes $1.5 billion and $1.2 billion measured at fair value at September 30, 2019 and December 31, 2018 , respectively. | ||
[4] | Includes LHFI of consolidated VIEs of $136 million and $153 million at September 30, 2019 and December 31, 2018, respectively. | ||
[5] | Includes debt of consolidated VIEs of $143 million and $161 million at September 30, 2019 and December 31, 2018, respectively. | ||
[6] | Includes noncontrolling interest of $101 million and $103 million at September 30, 2019 and December 31, 2018, respectively. | ||
[7] | Includes restricted shares of 4 thousand and 7 thousand at September 30, 2019 and December 31, 2018, respectively. | ||
[8] | At September 30, 2019 , includes ($5,693) 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, 2019 | Dec. 31, 2018 | |
Loans Receivable, Fair Value Disclosure | $ 124 | $ 163 | |
Common stock, par value | $ 1 | $ 1 | |
Loans and Leases Receivable, Gross | [1] | $ 158,455 | $ 151,839 |
Long-term Debt | [2] | $ 20,369 | $ 15,072 |
Common Stock, Shares, Outstanding | [3] | 444,033 | 446,888 |
Variable Interest Entity, Primary Beneficiary [Member] | |||
Loans and Leases Receivable, Gross | $ 136 | $ 153 | |
Long-term Debt | 143 | 161 | |
Treasury Stock and Other | |||
Stockholders' Equity Attributable to Noncontrolling Interest | $ 101 | $ 103 | |
Restricted Stock [Member] | |||
Common Stock, Shares, Outstanding | 4 | 7 | |
Available-for-sale Securities [Member] | |||
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value | $ 151 | $ 222 | |
Fair Value, Recurring [Member] | |||
Debt Securities, Held-to-maturity, Fair Value | 0 | 0 | |
Loans Held-for-sale, Fair Value Disclosure | 1,488 | 1,200 | |
Loans Receivable, Fair Value Disclosure | 124 | 163 | |
Servicing Asset at Fair Value, Amount | 1,564 | ||
Other Assets, Fair Value Disclosure | 76 | 95 | |
Long-term Debt, Fair Value | 302 | 289 | |
Brokered Time Deposits [Member] | Fair Value, Recurring [Member] | |||
Deposits, Fair Value Disclosure | $ 552 | $ 403 | |
[1] | Includes LHFI of consolidated VIEs of $136 million and $153 million at September 30, 2019 and December 31, 2018, respectively. | ||
[2] | Includes debt of consolidated VIEs of $143 million and $161 million at September 30, 2019 and December 31, 2018, respectively. | ||
[3] | Includes restricted shares of 4 thousand and 7 thousand at September 30, 2019 and December 31, 2018, respectively. |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Millions | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock and Other | AOCI Attributable to Parent [Member] | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Common Stock, Shares, Outstanding | 471,000 | ||||||||||
Total shareholders' equity at Dec. 31, 2017 | $ 25,154 | $ 2,475 | $ 550 | $ 9,000 | $ 17,540 | $ (3,591) | [1] | $ (820) | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income | [2] | (10) | 144 | (154) | [3] | ||||||
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) | [1] | ||||||||
Dividends, Common Stock, Cash | (603) | (603) | |||||||||
Dividends, Preferred Stock, Cash | [4] | (81) | (81) | ||||||||
Stock Redeemed or Called During Period, Value | (450) | (450) | |||||||||
Treasury Stock, Shares, Acquired | (17,000) | ||||||||||
Treasury Stock, Value, Acquired, Cost Method | (1,160) | (1,160) | [1] | ||||||||
Stock Issued During Period, Value, Stock Options Exercised | 36 | 36 | [1] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 1,000 | ||||||||||
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 | [1] | ||||||
Total shareholders' equity at Sep. 30, 2018 | 24,139 | 2,025 | $ 553 | 9,001 | 19,111 | (4,677) | [1] | (1,874) | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Common Stock, Shares, Outstanding | 465,000 | ||||||||||
Total shareholders' equity at Jun. 30, 2018 | 24,316 | 2,025 | $ 552 | 8,980 | 18,616 | (4,178) | [1] | (1,679) | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Net Income (Loss) Attributable to Parent | 752 | 752 | |||||||||
Other Comprehensive Income (Loss), Net of Tax | (195) | (195) | |||||||||
Noncontrolling Interest, Period Increase (Decrease) | (2) | (2) | [1] | ||||||||
Dividends, Common Stock, Cash | (229) | (229) | |||||||||
Dividends, Preferred Stock, Cash | [4] | (26) | (26) | ||||||||
Treasury Stock, Shares, Acquired | (7,000) | ||||||||||
Treasury Stock, Value, Acquired, Cost Method | (500) | (500) | [1] | ||||||||
Stock Issued During Period, Value, Stock Options Exercised | 2 | (1) | 3 | [1] | |||||||
Stock Issued During Period, Shares, Other | 1,000 | ||||||||||
Stock Issued During Period, Value, Other | 1 | $ 1 | |||||||||
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | 20 | 22 | (2) | ||||||||
Total shareholders' equity at Sep. 30, 2018 | $ 24,139 | 2,025 | $ 553 | 9,001 | 19,111 | (4,677) | [1] | (1,874) | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Common Stock, Shares, Outstanding | 459,000 | ||||||||||
Common Stock, Shares, Outstanding | 446,888 | [5] | 447,000 | ||||||||
Total shareholders' equity at Dec. 31, 2018 | $ 24,280 | 2,025 | $ 553 | 9,022 | 19,522 | (5,422) | [6] | (1,420) | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income | [7] | 31 | 31 | ||||||||
Net Income (Loss) Attributable to Parent | 1,891 | 1,891 | |||||||||
Other Comprehensive Income (Loss), Net of Tax | 1,271 | 1,271 | |||||||||
Noncontrolling Interest, Period Increase (Decrease) | (2) | (2) | [6] | ||||||||
Dividends, Common Stock, Cash | (693) | (693) | |||||||||
Dividends, Preferred Stock, Cash | [8] | (77) | (77) | ||||||||
Treasury Stock, Shares, Acquired | (5,000) | ||||||||||
Treasury Stock, Value, Acquired, Cost Method | (250) | (250) | [6] | ||||||||
Stock Issued During Period, Value, Stock Options Exercised | 7 | (7) | 14 | [6] | |||||||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures | 2,000 | ||||||||||
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | 31 | (26) | (10) | 67 | [6] | ||||||
Total shareholders' equity at Sep. 30, 2019 | 26,489 | 2,025 | $ 553 | 8,989 | 20,664 | (5,593) | [6] | (149) | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Common Stock, Shares, Outstanding | 444,000 | ||||||||||
Total shareholders' equity at Jun. 30, 2019 | 25,862 | 2,025 | $ 553 | 8,965 | 20,319 | (5,599) | [6] | (401) | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Net Income (Loss) Attributable to Parent | 623 | 623 | |||||||||
Other Comprehensive Income (Loss), Net of Tax | 252 | 252 | |||||||||
Noncontrolling Interest, Period Increase (Decrease) | (2) | (2) | [6] | ||||||||
Dividends, Common Stock, Cash | (249) | (249) | |||||||||
Dividends, Preferred Stock, Cash | [8] | (26) | (26) | ||||||||
Stock Issued During Period, Value, Stock Options Exercised | 2 | (3) | 5 | [6] | |||||||
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | 27 | 27 | (3) | 3 | [6] | ||||||
Total shareholders' equity at Sep. 30, 2019 | $ 26,489 | $ 2,025 | $ 553 | $ 8,989 | $ 20,664 | $ (5,593) | [6] | $ (149) | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Common Stock, Shares, Outstanding | 444,033 | [5] | 444,000 | ||||||||
[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 | ||||||||||
[2] | 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,” to the Company's 2018 Annual Report on Form 10-K for additional information. | ||||||||||
[3] | Related to the Company’s early adoption of ASU 2018-02 on January 1, 2018. See Note 1 , “Significant Accounting Policies,” to the Company's 2018 Annual Report on Form 10-K for additional information. | ||||||||||
[4] | For the three months ended September 30, 2018 , dividends were $1,022.22 per share for both Series A and B Preferred Stock, $1,406.25 per share for Series F Preferred Stock, $1,262.50 per share for Series G Preferred Stock, and $1,281.25 per share for Series H Preferred Stock. For the nine months ended September 30, 2018 , dividends were $3,044.44 per share for both Series A and B Preferred Stock, $1,468.75 per share for Series E Preferred Stock, $4,218.75 per share for Series F Preferred Stock, $3,787.50 per share for Series G Preferred Stock, and $4,285.07 per share for Series H Preferred Stock. | ||||||||||
[5] | Includes restricted shares of 4 thousand and 7 thousand at September 30, 2019 and December 31, 2018, respectively. | ||||||||||
[6] | At September 30, 2019 , includes ($5,693) million for treasury stock, less than ($1) million for the compensation element of restricted stock, and $101 million for noncontrolling interest. | ||||||||||
[7] | Related to the Company’s adoption of ASU 2016-02 on January 1, 2019. See Note 1 , “Significant Accounting Policies,” for additional information. | ||||||||||
[8] | For the three months ended September 30, 2019 , dividends were $1,022.22 per share for both Series A and B Preferred Stock, $1,406.25 per share for Series F Preferred Stock, $1,262.50 per share for Series G Preferred Stock, and $1,281.25 per share for Series H Preferred Stock. For the nine months ended September 30, 2019 , dividends were $3,044.44 per share for both Series A and B Preferred Stock, $4,218.75 per share for Series F Preferred Stock, $3,787.50 per share for Series G Preferred Stock, and $3,843.75 per share for Series H Preferred Stock. |
Consolidated Statements of Sh_2
Consolidated Statements of Shareholders' Equity (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | ||
Treasury Stock, Value | [1] | $ (5,593) | $ (5,593) | $ (5,422) | ||
Common stock dividends, per share | $ 0.56 | $ 0.50 | $ 1.56 | $ 1.30 | ||
Treasury Stock and Other | ||||||
Treasury Stock, Value | $ (5,693) | $ (4,777) | $ (5,693) | $ (4,777) | ||
Deferred Compensation Equity | (1) | (1) | (1) | (1) | ||
Stockholders' Equity Attributable to Noncontrolling Interest | $ 101 | $ 101 | $ 101 | $ 101 | $ 103 | |
Series A Preferred Stock [Member] | ||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 1,022.22 | $ 1,022.22 | $ 3,044.44 | $ 3,044.44 | ||
Series B Preferred Stock [Member] | ||||||
Preferred Stock, Dividends, Per Share, Cash Paid | 1,022.22 | 1,022.22 | 3,044.44 | 3,044.44 | ||
Series E Preferred Stock [Member] | ||||||
Preferred Stock, Dividends, Per Share, Cash Paid | 1,468.75 | |||||
Series F Preferred Stock [Member] | ||||||
Preferred Stock, Dividends, Per Share, Cash Paid | 1,406.25 | 1,406.25 | 4,218.75 | 4,218.75 | ||
Series G Preferred Stock [Member] | ||||||
Preferred Stock, Dividends, Per Share, Cash Paid | 1,262.50 | 1,262.50 | 3,787.50 | 3,787.50 | ||
Series H Preferred Stock [Member] | ||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 1,281.25 | $ 1,281.25 | $ 3,843.75 | $ 4,285.07 | ||
[1] | Includes noncontrolling interest of $101 million and $103 million at September 30, 2019 and December 31, 2018, respectively. |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | ||
Cash Flows from Operating Activities: | |||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 1,898 | $ 2,124 | |
Adjustments to reconcile net income/(loss) to net cash provided by operating activities: | |||
Depreciation, Amortization and Accretion, Net | 518 | 535 | |
Payments to Acquire Mortgage Servicing Rights (MSR) | (251) | (260) | |
Provisions For Credit Losses And Foreclosed Properties | 418 | 130 | |
Stock Option Compensation And Amortization Of Restricted Stock Compensation | 112 | 118 | |
Debt and Equity Securities, Gain (Loss) | 38 | (1) | |
Gain (Loss) on Sale of Loans, Leases, and Other Assets | (266) | (83) | |
Net decrease/(increase) in loans held for sale | (315) | 382 | |
Net decrease/(increase) in Debt Securities, Trading, and Equity Securities, FV-NI | (1,598) | (818) | |
Net decrease/(increase) in other assets | [1] | (382) | (1,713) |
Net increase/(decrease) in Other Operating Liabilities | (166) | 478 | |
Net cash provided by (used in) operating activities | 6 | 892 | |
Cash Flows from Investing Activities: | |||
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale | 3,316 | 2,840 | |
Proceeds from Sale of Available-for-sale Securities | 3,690 | 2,047 | |
Payments to Acquire Available-for-sale Securities | (5,824) | (5,534) | |
Proceeds from (payments for) Originations and Purchases of Loans and Leases Held-for-investment | [1] | 7,957 | 4,566 |
Proceeds from Sale of Loans Held-for-investment | 866 | 199 | |
Payments for (Proceeds from) Mortgage Servicing Rights | (3) | (73) | |
Payment to Acquire Life Insurance Policy, Investing Activities | (1) | (201) | |
Proceeds from Life Insurance Policy | 17 | 8 | |
Proceeds from Insurance Settlement, Investing Activities | 210 | 0 | |
Capital expenditures | (261) | (170) | |
Proceeds from Sale of Other Real Estate | 88 | 148 | |
Payments for (Proceeds from) Other Investing Activities | 2 | 1 | |
Net Cash Provided by (Used in) Investing Activities | (5,857) | (5,301) | |
Cash Flows from Financing Activities: | |||
Net (decrease)/increase in total deposits | 5,082 | (402) | |
Net increase/(decrease) in funds purchased, securities sold under agreements to repurchase, and other short-term borrowings | (1,628) | 3,159 | |
Proceeds from Issuance of Long-term Debt | 5,992 | 5,111 | |
Repayment of long-term debt | (864) | (484) | |
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | (450) | |
Payments for Repurchase of Common Stock | (250) | (1,160) | |
Common and preferred dividends paid | (747) | (664) | |
Payment, Tax Withholding, Share-based Payment Arrangement | (52) | (44) | |
Proceeds from the exercise of stock options | 7 | 36 | |
Net Cash Provided by (Used in) Financing Activities | 7,540 | 5,102 | |
Cash and Cash Equivalents, Period Increase (Decrease) | 1,689 | 693 | |
Cash and cash equivalents | 7,495 | 6,912 | |
Cash and cash equivalents | 9,184 | 7,605 | |
Supplemental Disclosures: | |||
Transfer of Loans Held-for-sale to Portfolio Loans | 17 | 23 | |
Transfer of Portfolio Loans and Leases to Held-for-sale | 812 | 449 | |
Transfer to Other Real Estate | 33 | 44 | |
Non-cash impact of debt acquired by purchaser in leverage lease sale | 163 | $ 0 | |
Interest Received from Sales-Type and Direct Financing Leases | $ 106 | ||
[1] | Pursuant to the Company’s adoption of ASU 2016-02 on January 1, 2019, it began including the interest portion of lessee payments received from sales-type and direct financing leases, which totaled $106 million for the nine months ended September 30, 2019 , within operating activities, with the principal portion of lessee payments remaining within investing activities. For periods prior to January 1, 2019, interest payments were not retrospectively reclassified and remain within investing activities . See Note 1 , “Significant Accounting Policies,” for additional information. |
Significant Accounting Policies
Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2019 | |
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 2018 Annual Report on Form 10-K. Changes in Significant Accounting Policies Pursuant to the Company’s adoption of ASC Topic 842 as of January 1, 2019, the Company updated its accounting policy related to leases. S ee Note 10 , “Leases,” for new disclosures and policy information related to the Company’s leases. There were no other significant changes to the Company’s accounting policies from those disclosed in the Company’s 2018 Annual Report on Form 10-K that could have a material effect on the Company's financial statements. Subsequent Events The Company evaluated events that occurred between September 30, 2019 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 nine months ended September 30, 2019 or not yet adopted as of September 30, 2019 , 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 2019 ASU 2016-02, Leases (Topic 842) and subsequent related ASUs These ASUs create and amend 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. These ASUs do 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 . Furthermore, there are several new qualitative and quantitative disclosures required for lessees and lessors, including updated guidance around the presentation of certain cash receipts on the Company’s Consolidated Statements of Cash Flows. January 1, 2019 The Company adopted these ASUs on January 1, 2019, using a modified retrospective transition approach as of the date of adoption, which resulted in the recognition of $1.2 billion and $1.3 billion in right-of-use assets and associated lease liabilities, respectively, arising from operating leases in which the Company is the lessee, on the Company's Consolidated Balance Sheets. The amount of the right-of-use assets and associated lease liabilities recorded upon adoption was based primarily on the present value of unpaid future minimum lease payments, the amount of which was based on the population of leases in effect at the date of adoption. At September 30, 2019, right-of-use assets and lease liabilities recorded on the Company’s Consolidated Balance Sheets totaled $1.1 billion and $1.2 billion, respectively. Standard Description Required Date of Adoption Effect on the Financial Statements or Other Significant Matters Standards Not Yet Adopted ASU 2016-13, Measurement of Credit Losses on Financial Instruments (Topic 326) and subsequent related ASUs These ASUs create and amend ASC Topic 326, Financial Instruments - Credit Losses , which replaces 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 formed a cross-functional team to oversee the implementation of these ASUs. A detailed implementation plan was developed and progress is substantially complete in regards to 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 forecasting process was implemented in the first half of 2019, resulting in modifications to the Company’s associated internal control environment that will be effective upon adoption of these ASUs. In the first half of 2019, the Company performed testing in which methodologies, processes, and internal controls were evaluated and refined. The Company performed a full parallel run of the new methodology in the third quarter of 2019 and will perform another full parallel run in the fourth quarter of 2019. The parallel runs include execution of internal controls, supporting analytics, reserve estimation, process and procedure documentation, and subject matter expert reviews. The Company continues to refine its processes and methodology based on the results of these exercises. 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 Based on the Company’s most recent qualitative goodwill impairment assessment performed in the third quarter of 2019, there were no reporting units for which it was more-likely-than-not that the carrying amount of a reporting unit exceeded its respective fair value; therefore, this ASU would not currently have an impact on the Company’s Consolidated Financial Statements or related disclosures. However, if subsequent to adoption, the carrying amount of a reporting unit exceeds its respective fair value, the Company would be required to recognize an impairment charge for the amount that the carrying value exceeds the fair value. 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 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, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contract with Customer [Text Block] | NOTE 2 – REVENUE RECOGNITION The following tables reflect the Company’s noninterest income disaggregated by financial statement line item, business segment, and by the amount of each revenue stream that is in scope and out of scope of ASC Topic 606, Revenue from Contracts with Customers . Refer to Note 1 , “Significant Accounting Policies,” and Note 2 , “Revenue Recognition,” to the Company's 2018 Annual Report on Form 10-K , for the Company's accounting policies for recognizing noninterest income, including the nature and timing of such revenue streams. The Company's contracts with customers generally do not contain terms that require significant judgment to determine the amount of revenue to recognize. Three Months Ended September 30, 2019 (Dollars in millions) Consumer 1 Wholesale 1 Out of Scope 1, 2 Total Noninterest income Service charges on deposit accounts $112 $29 $— $141 Other charges and fees 3 27 4 59 90 Card fees 57 24 2 83 Investment banking income — 97 62 159 Trading income — — 29 29 Mortgage-related income — — 106 106 Trust and investment management income 77 — 1 78 Retail investment services 4 76 — — 76 Insurance settlement — — 5 5 Commercial real estate-related income — — 32 32 Net securities gains/(losses) — — 4 4 Other noninterest income 6 — 34 40 Total noninterest income $355 $154 $334 $843 1 Consumer total noninterest income and Wholesale total noninterest income exclude $124 million and $214 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 19 , "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($4) million of Corporate Other noninterest income that is not subject to ASC Topic 606. 2 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. 3 The Company recognized an immaterial amount of insurance trailing commissions, the majority of which related to performance obligations satisfied in prior periods. 4 The Company recognized $12 million of mutual fund 12b-1 fees and annuity trailing commissions, the majority of which related to performance obligations satisfied in prior periods. Three Months Ended September 30, 2018 (Dollars in millions) Consumer 1 Wholesale 1 Out of Scope 1, 2 Total Noninterest income Service charges on deposit accounts $111 $33 $— $144 Other charges and fees 3 28 3 58 89 Card fees 49 26 — 75 Investment banking income — 101 49 150 Trading income — — 42 42 Mortgage-related income — — 83 83 Trust and investment management income 79 — 1 80 Retail investment services 4 73 — 1 74 Insurance settlement — — — — Commercial real estate-related income — — 24 24 Net securities gains/(losses) — — — — Other noninterest income 5 — 16 21 Total noninterest income $345 $163 $274 $782 1 Consumer total noninterest income and Wholesale total noninterest income exclude $99 million and $205 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 19 , "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($30) million of Corporate Other noninterest income that is not subject to ASC Topic 606. 2 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. 3 The Company recognized an immaterial amount of insurance trailing commissions, the majority of which related to performance obligations satisfied in prior periods. 4 The Company recognized $12 million of mutual fund 12b-1 fees and annuity trailing commissions, the majority of which related to performance obligations satisfied in prior periods. Nine Months Ended September 30, 2019 (Dollars in millions) Consumer 1 Wholesale 1 Out of Scope 1, 2 Total Noninterest income Service charges on deposit accounts $324 $93 $— $417 Other charges and fees 3 82 12 171 265 Card fees 168 75 4 247 Investment banking income — 261 170 431 Trading income — — 144 144 Mortgage-related income — — 294 294 Trust and investment management income 220 — 2 222 Retail investment services 4 218 1 1 220 Insurance settlement — — 210 210 Commercial real estate-related income — — 106 106 Net securities gains/(losses) — — (38 ) (38 ) Other noninterest income 17 — 118 135 Total noninterest income $1,029 $442 $1,182 $2,653 1 Consumer total noninterest income and Wholesale total noninterest income exclude $386 million and $695 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 19 , "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes $101 million of Corporate Other noninterest income that is not subject to ASC Topic 606. 2 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. 3 The Company recognized an immaterial amount of insurance trailing commissions, the majority of which related to performance obligations satisfied in prior periods. 4 The Company recognized $31 million of mutual fund 12b-1 fees and annuity trailing commissions, the majority of which related to performance obligations satisfied in prior periods. Nine Months Ended September 30, 2018 (Dollars in millions) Consumer 1 Wholesale 1 Out of Scope 1, 2 Total Noninterest income Service charges on deposit accounts $330 $103 $— $433 Other charges and fees 3 85 8 171 264 Card fees 160 78 3 241 Investment banking income — 287 166 453 Trading income — — 137 137 Mortgage-related income — — 256 256 Trust and investment management income 228 — 2 230 Retail investment services 4 216 2 1 219 Insurance settlement — — — — Commercial real estate-related income — — 66 66 Net securities gains/(losses) — — 1 1 Other noninterest income 17 — 91 108 Total noninterest income $1,036 $478 $894 $2,408 1 Consumer total noninterest income and Wholesale total noninterest income exclude $311 million and $618 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 19 , "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($35) million of Corporate Other noninterest income that is not subject to ASC Topic 606. 2 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. 3 The Company recognized an immaterial amount of insurance trailing commissions, the majority of which related to performance obligations satisfied in prior periods. 4 The Company recognized $38 million of mutual fund 12b-1 fees and annuity trailing commissions, the majority of which related to performance obligations satisfied in prior periods. |
Federal Funds Sold and Securiti
Federal Funds Sold and Securities Financing Activities | 9 Months Ended |
Sep. 30, 2019 | |
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, 2019 December 31, 2018 Fed funds sold $5 $42 Securities borrowed 491 394 Securities purchased under agreements to resell 818 1,243 Total Fed funds sold and securities borrowed or purchased under agreements to resell $1,314 $1,679 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, 2019 and December 31, 2018 , the total market value of collateral held was $1.3 billion and $1.6 billion , of which $72 million and $108 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, 2019 December 31, 2018 (Dollars in millions) Overnight and Continuous Up to 30 days Total Overnight and Continuous Up to 30 days 30-90 days Total U.S. Treasury securities $89 $— $89 $197 $7 $— $204 Federal agency securities 95 9 104 112 10 — 122 MBS - agency residential 1,031 143 1,174 881 35 — 916 CP 74 — 74 78 — — 78 Corporate and other debt securities 196 192 388 216 158 80 454 Total securities sold under agreements to repurchase $1,485 $344 $1,829 $1,484 $210 $80 $1,774 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 16 , “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, 2019 and December 31, 2018 , 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, 2019 Financial assets: Securities borrowed or purchased under agreements to resell $1,309 $— $1,309 1 $1,293 $16 Financial liabilities: Securities sold under agreements to repurchase 1,829 — 1,829 1,829 — December 31, 2018 Financial assets: Securities borrowed or purchased under agreements to resell $1,637 $— $1,637 1 $1,624 $13 Financial liabilities: Securities sold under agreements to repurchase 1,774 — 1,774 1,774 — 1 Excludes $5 million and $42 million of Fed Funds sold that are not subject to a master netting agreement at September 30, 2019 and December 31, 2018 , respectively. |
Trading Assets and Liabilities
Trading Assets and Liabilities and Derivatives Trading Assets and Liabilities and Derivatives | 9 Months Ended |
Sep. 30, 2019 | |
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, 2019 December 31, 2018 Trading Assets and Derivative Instruments: U.S. Treasury securities $212 $262 Federal agency securities 319 188 U.S. states and political subdivisions 43 54 MBS - agency residential 1,004 860 MBS - agency commercial 51 — ABS 7 — Corporate and other debt securities 628 700 CP 122 190 Equity securities 86 73 Derivative instruments 1 1,770 639 Trading loans 2 2,862 2,540 Total trading assets and derivative instruments $7,104 $5,506 Trading Liabilities and Derivative Instruments: U.S. Treasury securities $538 $801 MBS - agency — 3 Corporate and other debt securities 539 385 Equity securities 20 5 Derivative instruments 1 274 410 Trading loans 9 — Total trading liabilities and derivative instruments $1,380 $1,604 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 16 , “Derivative Financial Instruments,” in this Form 10-Q as well as Note 20, “Fair Value Election and Measurement,” to the Consolidated Financial Statements in the Company's 2018 Annual Report on Form 10-K. Pledged trading assets are presented in the following table: (Dollars in millions) September 30, 2019 December 31, 2018 Pledged trading assets to secure repurchase agreements 1 $1,226 $1,418 Pledged trading assets to secure certain derivative agreements 62 22 Pledged trading assets to secure other arrangements 40 40 1 Repurchase agreements secured by collateral totaled $1.2 billion and $1.4 billion at September 30, 2019 and December 31, 2018 , respectively. |
Loans
Loans | 9 Months Ended |
Sep. 30, 2019 | |
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, 2019 December 31, 2018 Commercial loans: C&I 1 $73,374 $71,137 CRE 9,491 7,265 Commercial construction 2,142 2,538 Total commercial LHFI 85,007 80,940 Consumer loans: Residential mortgages - guaranteed 457 459 Residential mortgages - nonguaranteed 2 28,810 28,836 Residential home equity products 8,696 9,468 Residential construction 144 184 Guaranteed student 7,146 7,229 Other direct 12,431 10,615 Indirect 14,060 12,419 Credit cards 1,704 1,689 Total consumer LHFI 73,448 70,899 LHFI $158,455 $151,839 LHFS 3 $2,006 $1,468 1 Includes $4.0 billion and $4.1 billion of sales-type, direct financing, and leveraged leases at September 30, 2019 and December 31, 2018 , respectively. Includes $817 million and $796 million of installment loans at September 30, 2019 and December 31, 2018 , respectively. 2 Includes $124 million and $163 million measured at fair value at September 30, 2019 and December 31, 2018 , respectively. 3 Includes $1.5 billion and $1.2 billion measured at fair value at September 30, 2019 and December 31, 2018 , respectively. LHFI Purchases, Sales, and Transfers Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2019 2018 2019 2018 Non-routine LHFI purchases 1, 2 : Consumer loans $160 $101 $418 $101 Routine LHFI purchases 2, 3 : Consumer loans 517 545 1,433 1,568 LHFI sales 4, 5 : Commercial loans 171 14 387 87 Consumer loans — — 432 100 Transfers from: LHFI to LHFS 812 449 LHFS to LHFI 17 23 LHFI to OREO 33 44 1 Purchases are episodic in nature and are conducted based on specific business strategies. 2 Represents UPB of loans purchased. 3 Purchases are routine in nature and are conducted in the normal course of business. 4 Excludes sales of loans originated for sale and loans recorded at fair value conducted in the normal course of business. 5 The net gain on LHFI sales was $47 million for the nine months ended September 30, 2019 , and was immaterial for the three months ended September 30, 2019 as well as the three and nine months ended September 30, 2018 . At September 30, 2019 and December 31, 2018 , the Company had $33.3 billion and $28.1 billion of net eligible loan collateral pledged to the Federal Reserve discount window to support $24.4 billion and $21.3 billion of available, unused borrowing capacity, respectively. At September 30, 2019 and December 31, 2018 , the Company had $39.8 billion and $39.2 billion of net eligible loan collateral pledged to the FHLB of Atlanta to support $32.5 billion and $31.0 billion of available borrowing capacity, respectively. The available FHLB borrowing capacity at September 30, 2019 was used to support $7.5 billion of advances and $4.2 billion of letters of credit issued on the Company's behalf. At December 31, 2018 , the available FHLB borrowing capacity was used to support $5.0 billion of advances and $5.8 billion of letters of credit issued on the Company's behalf. Credit Quality Evaluation The Company evaluates the credit quality of its LHFI 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. As reflected in the following risk rating table, the increase in Criticized C&I loans at September 30, 2019 compared to December 31, 2018 , was due to certain borrower downgrades that occurred during 2019. 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 September 30, 2019 and December 31, 2018 , 29% and 27% , respectively, of guaranteed residential mortgages were current with respect to payments. At September 30, 2019 and December 31, 2018 , 78% and 72% , 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, 2019 December 31, 2018 September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 Risk rating: Pass $70,739 $69,095 $9,410 $7,165 $2,082 $2,459 Criticized accruing 2,285 1,885 80 98 60 79 Criticized nonaccruing 350 157 1 2 — — Total $73,374 $71,137 $9,491 $7,265 $2,142 $2,538 Consumer Loans 1 Residential Mortgages - Nonguaranteed Residential Home Equity Products Residential Construction (Dollars in millions) September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 Current FICO score range: 700 and above $25,985 $25,764 $7,406 $8,060 $116 $151 620 - 699 2,219 2,367 929 1,015 22 27 Below 620 2 606 705 361 393 6 6 Total $28,810 $28,836 $8,696 $9,468 $144 $184 Other Direct Indirect Credit Cards (Dollars in millions) September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 Current FICO score range: 700 and above $10,671 $9,296 $10,904 $9,315 $1,145 $1,142 620 - 699 1,543 1,175 2,367 2,395 423 420 Below 620 2 217 144 789 709 136 127 Total $12,431 $10,615 $14,060 $12,419 $1,704 $1,689 1 Excludes $7.1 billion and $7.2 billion of guaranteed student loans and $457 million and $459 million of guaranteed residential mortgages at September 30, 2019 and December 31, 2018 , 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, 2019 Accruing (Dollars in millions) Current 30-89 Days Past Due 90+ Days Past Due Nonaccruing 1 Total Commercial loans: C&I $72,955 $55 $14 $350 $73,374 CRE 9,486 3 1 1 9,491 Commercial construction 2,142 — — — 2,142 Total commercial LHFI 84,583 58 15 351 85,007 Consumer loans: Residential mortgages - guaranteed 131 25 301 — 3 457 Residential mortgages - nonguaranteed 2 28,620 55 10 125 28,810 Residential home equity products 8,534 61 1 100 8,696 Residential construction 135 1 — 8 144 Guaranteed student 5,563 543 1,040 — 3 7,146 Other direct 12,362 53 5 11 12,431 Indirect 13,951 103 1 5 14,060 Credit cards 1,666 18 20 — 1,704 Total consumer LHFI 70,962 859 1,378 249 73,448 Total LHFI $155,545 $917 $1,393 $600 $158,455 1 Includes nonaccruing LHFI past due 90 days or more of $306 million . Nonaccruing LHFI past due fewer than 90 days include nonaccrual LHFI modified in TDRs, performing second lien LHFI where the first lien loan is nonperforming, and certain energy-related commercial LHFI. 2 I ncludes $124 million of LHFI measured at fair value, the majority of which were accruing current. 3 Guaranteed LHFI are not placed on nonaccrual status regardless of delinquency because collection of principal and interest is reasonably assured by the government. December 31, 2018 Accruing (Dollars in millions) Current 30-89 Days Past Due 90+ Days Past Due Nonaccruing 1 Total Commercial loans: C&I $70,901 $64 $15 $157 $71,137 CRE 7,259 3 1 2 7,265 Commercial construction 2,538 — — — 2,538 Total commercial LHFI 80,698 67 16 159 80,940 Consumer loans: Residential mortgages - guaranteed 125 39 295 — 3 459 Residential mortgages - nonguaranteed 2 28,552 70 10 204 28,836 Residential home equity products 9,268 62 — 138 9,468 Residential construction 170 3 — 11 184 Guaranteed student 5,236 685 1,308 — 3 7,229 Other direct 10,559 45 4 7 10,615 Indirect 12,286 125 1 7 12,419 Credit cards 1,654 17 18 — 1,689 Total consumer LHFI 67,850 1,046 1,636 367 70,899 Total LHFI $148,548 $1,113 $1,652 $526 $151,839 1 Includes nonaccruing LHFI past due 90 days or more of $306 million . Nonaccruing LHFI past due fewer than 90 days include nonaccrual LHFI modified in TDRs, performing second lien LHFI where the first lien loan is nonperforming, and certain energy-related commercial LHFI. 2 Includes $163 million of LHFI measured at fair value, the majority of which were accruing current. 3 Guaranteed LHFI are not placed on nonaccrual status regardless of delinquency 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 LHFI whose terms have been modified in a TDR are individually evaluated for impairment. Smaller-balance homogeneous LHFI that are collectively evaluated for impairment and LHFI 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, 2019 December 31, 2018 (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 $48 $39 $— $132 $79 $— CRE — — — 10 — — Total commercial LHFI with no ALLL recorded 48 39 — 142 79 — Consumer loans: Residential mortgages - nonguaranteed 354 283 — 501 397 — Residential construction 7 4 — 12 7 — Total consumer LHFI with no ALLL recorded 361 287 — 513 404 — Impaired LHFI with an ALLL recorded: Commercial loans: C&I 311 300 71 81 70 13 Total commercial LHFI with an ALLL recorded 311 300 71 81 70 13 Consumer loans: Residential mortgages - nonguaranteed 561 561 54 1,006 984 96 Residential home equity products 753 721 41 849 799 44 Residential construction 70 68 5 79 76 6 Other direct 57 57 1 57 57 1 Indirect 136 135 4 133 133 5 Credit cards 12 12 3 30 9 2 Total consumer LHFI with an ALLL recorded 1,589 1,554 108 2,154 2,058 154 Total impaired LHFI $2,309 $2,180 $179 $2,890 $2,611 $167 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, 2019 and December 31, 2018 were $1.8 billion and $2.3 billion , respectively, of accruing TDRs held for investment, of which 97% were current. This reduction was driven by our sale of $465 million of accruing TDRs in the second quarter of 2019 for a net gain on sale of $44 million . See Note 1 , “Significant Accounting Policies,” to the Company's 2018 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 2019 2018 2019 2018 (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 $40 $— $44 $— $41 $— $45 $1 CRE — — 20 — — — 20 — Total commercial LHFI with no ALLL recorded 40 — 64 — 41 — 65 1 Consumer loans: Residential mortgages - nonguaranteed 284 4 381 4 287 12 386 11 Residential construction 4 — 7 — 4 — 7 — Total consumer LHFI with no ALLL recorded 288 4 388 4 291 12 393 11 Impaired LHFI with an ALLL recorded: Commercial loans: C&I 303 2 177 — 305 8 176 3 CRE — — 21 — — — 22 — Total commercial LHFI with an ALLL recorded 303 2 198 — 305 8 198 3 Consumer loans: Residential mortgages - nonguaranteed 562 8 1,027 13 565 28 1,031 39 Residential home equity products 723 8 824 9 732 25 833 27 Residential construction 68 1 80 1 69 3 82 4 Other direct 58 1 57 1 58 3 58 3 Indirect 139 2 134 2 147 5 141 5 Credit cards 12 — 8 — 11 1 8 1 Total consumer LHFI with an ALLL recorded 1,562 20 2,130 26 1,582 65 2,153 79 Total impaired LHFI $2,193 $26 $2,780 $30 $2,219 $85 $2,809 $94 1 Of the interest income recognized during the three and nine months ended September 30, 2019 , cash basis interest income was immaterial and $9 million , respectively. Of the interest income recognized during the three and nine months ended September 30, 2018 , cash basis interest income was immaterial. NPAs are presented in the following table: (Dollars in millions) September 30, 2019 December 31, 2018 NPAs: Commercial NPLs: C&I $350 $157 CRE 1 2 Consumer NPLs: Residential mortgages - nonguaranteed 125 204 Residential home equity products 100 138 Residential construction 8 11 Other direct 11 7 Indirect 5 7 Total nonaccrual LHFI/NPLs 1 600 526 OREO 2 52 54 Other repossessed assets 8 9 Nonperforming LHFS 1 — Total NPAs $661 $589 1 Nonaccruing restructured LHFI are included in total nonaccrual LHFI /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 $43 million and $50 million at September 30, 2019 and December 31, 2018 , respectively. The Company's recorded investment of nonaccruing LHFI secured by residential real estate properties for which formal foreclosure proceedings were in process at September 30, 2019 and December 31, 2018 was $73 million and $93 million , respectively. The Company's recorded investment of accruing LHFI secured by residential real estate properties for which formal foreclosure proceedings were in process at September 30, 2019 and December 31, 2018 was $123 million and $110 million , of which $115 million and $103 million were insured by the FHA or guaranteed by the VA , respectively. At September 30, 2019 , OREO included $50 million of foreclosed residential real estate properties and $1 million of foreclosed commercial real estate properties, with the remaining $1 million related to land. At December 31, 2018 , OREO included $50 million of foreclosed residential real estate properties and $2 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, 2019 and December 31, 2018 , 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, 2019 1 (Dollars in millions) Number of Loans Modified Rate Modification Term Extension and/or Other Concessions Total Commercial loans: C&I 32 $— $12 $12 Consumer loans: Residential mortgages - nonguaranteed 30 2 2 4 Residential home equity products 54 — 3 3 Other direct 234 — 3 3 Indirect 634 — 16 16 Credit cards 537 3 — 3 Total TDR additions 1,521 $5 $36 $41 1 Includes loans modified under the terms of a TDR that were charged-off during the period. Nine Months Ended September 30, 2019 1 (Dollars in millions) Number of Loans Modified Rate Modification Term Extension and/or Other Concessions Total Commercial loans: C&I 88 $1 $17 $18 Consumer loans: Residential mortgages - nonguaranteed 88 4 7 11 Residential home equity products 215 2 13 15 Other direct 642 — 10 10 Indirect 1,755 — 42 42 Credit cards 1,531 7 — 7 Total TDR additions 4,319 $14 $89 $103 1 Includes loans modified under the terms of a TDR that were charged-off during the period. 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. TDRs that defaulted during the three and nine months ended September 30, 2019 and 2018 , which were first modified within the previous twelve 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, Texas, and Maryland . The Company’s cross-border outstanding loans totaled $1.9 billion and $1.8 billion at September 30, 2019 and December 31, 2018 , respectively. With respect to collateral concentration, the Company's recorded investment in residential real estate secured LHFI totaled $38.1 billion at September 30, 2019 and represented 24% of total LHFI. At December 31, 2018 , the Company's recorded investment in residential real estate secured LHFI totaled $38.9 billion and represented 26% of total LHFI. Additionally, at September 30, 2019 and December 31, 2018 , the Company had commitments to extend credit on home equity lines of $10.6 billion and $10.3 billion , and had residential mortgage commitments outstanding of $5.7 billion and $2.7 billion , respectively. At both September 30, 2019 and December 31, 2018 , 1% of the Company's LHFI secured by residential real estate was insured by the FHA or guaranteed by the VA . |
Securities Available for Sale
Securities Available for Sale | 9 Months Ended |
Sep. 30, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities Available for Sale | NOTE 5 – INVESTMENT SECURITIES Investment Securities Portfolio Composition September 30, 2019 (Dollars in millions) Amortized Unrealized Unrealized Fair Securities AFS: U.S. Treasury securities $3,915 $103 $— $4,018 Federal agency securities 123 1 — 124 U.S. states and political subdivisions 564 9 1 572 MBS - agency residential 22,069 520 4 22,585 MBS - agency commercial 2,881 103 1 2,983 MBS - non-agency commercial 1,008 56 — 1,064 Corporate and other debt securities 12 — — 12 Total securities AFS $30,572 $792 $6 $31,358 December 31, 2018 (Dollars in millions) Amortized Unrealized Unrealized Fair Securities AFS: U.S. Treasury securities $4,277 $— $66 $4,211 Federal agency securities 221 2 2 221 U.S. states and political subdivisions 606 4 21 589 MBS - agency residential 23,161 128 425 22,864 MBS - agency commercial 2,688 8 69 2,627 MBS - non-agency commercial 943 — 27 916 Corporate and other debt securities 14 — — 14 Total securities AFS $31,910 $142 $610 $31,442 The following table presents interest on securities AFS: Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2019 2018 2019 2018 Taxable interest $211 $207 $646 $614 Tax-exempt interest 4 5 13 14 Total interest on securities AFS $215 $212 $659 $628 Investment securities pledged to secure public deposits, repurchase agreements, trusts, certain derivative agreements, and other funds had a fair value of $4.0 billion and $3.3 billion at September 30, 2019 and December 31, 2018 , respectively. The following table presents the amortized cost, fair value, and weighted average yield of the Company's investment securities at September 30, 2019 , 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 $632 $2,331 $952 $— $3,915 Federal agency securities 50 10 6 57 123 U.S. states and political subdivisions — 90 317 157 564 MBS - agency residential 1,435 9,389 10,890 355 22,069 MBS - agency commercial — 835 1,683 363 2,881 MBS - non-agency commercial — 12 996 — 1,008 Corporate and other debt securities — 12 — — 12 Total securities AFS $2,117 $12,679 $14,844 $932 $30,572 Fair Value: Securities AFS: U.S. Treasury securities $634 $2,389 $995 $— $4,018 Federal agency securities 50 10 6 58 124 U.S. states and political subdivisions — 95 320 157 572 MBS - agency residential 1,485 9,630 11,108 362 22,585 MBS - agency commercial — 851 1,752 380 2,983 MBS - non-agency commercial — 12 1,052 — 1,064 Corporate and other debt securities — 12 — — 12 Total securities AFS $2,169 $12,999 $15,233 $957 $31,358 Weighted average yield 1 3.09 % 2.81 % 2.93 % 3.02 % 2.89 % 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, 2019 , 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 2018 Annual Report on Form 10-K . Investment securities in an unrealized loss position at period end are presented in the following tables: September 30, 2019 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 $50 $— $— $— $50 $— Federal agency securities 20 — — — 20 — U.S. states and political subdivisions 119 1 — — 119 1 MBS - agency residential 1,089 4 — — 1,089 4 MBS - agency commercial 207 1 — — 207 1 Corporate and other debt securities — — 6 — 6 — Total temporarily impaired securities AFS 1,485 6 6 — 1,491 6 OTTI securities AFS 2 : Total OTTI securities AFS — — — — — — Total impaired securities AFS $1,485 $6 $6 $— $1,491 $6 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, 2018 Less than twelve months Twelve months or longer Total (Dollars in millions) Fair Value Unrealized 1 Losses Fair Value Unrealized 1 Losses Fair Value Unrealized 1 Losses Temporarily impaired securities AFS: U.S. Treasury securities $— $— $4,177 $66 $4,177 $66 Federal agency securities — — 63 2 63 2 U.S. states and political subdivisions 49 1 430 20 479 21 MBS - agency residential 1,229 5 15,384 420 16,613 425 MBS - agency commercial 68 — 1,986 69 2,054 69 MBS - non-agency commercial 106 1 773 26 879 27 Corporate and other debt securities — — 9 — 9 — Total temporarily impaired securities AFS 1,452 7 22,822 603 24,274 610 OTTI securities AFS 2 : Total OTTI securities AFS — — — — — — Total impaired securities AFS $1,452 $7 $22,822 $603 $24,274 $610 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. 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, the unrealized losses were 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. During the nine months ended September 30, 2019 , the Company recognized $38 million in net securities losses, driven by the Company's second quarter of 2019 repositioning of a portion of the securities AFS portfolio, which resulted in $42 million of gross realized losses. This repositioning in the second quarter of 2019 was not due to any requirement to sell the securities before their anticipated recovery or maturity. Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2019 2018 2019 2018 Gross realized gains $4 $— $4 $7 Gross realized losses — — (42 ) (6 ) OTTI credit losses recognized in earnings — — — — Net securities gains/(losses) $4 $— ($38 ) $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 2018 Annual Report on Form 10-K for additional information regarding the Company's accounting policy on securities AFS and related impairments. The Company seeks to reduce its exposure on any existing OTTI securities primarily through paydowns. In certain instances, the amount of credit losses recognized in earnings on a debt security exceeds the total unrealized losses on the security, which may result in unrealized gains relating to factors other than credit recorded in AOCI, net of tax. During the three and nine months ended September 30, 2019 and 2018 , there were no credit impairment losses recognized on securities AFS held at the end of the period. The accumulated balance of OTTI credit losses recognized in earnings on securities AFS held at period end was zero at both September 30, 2019 and 2018 . |
Allowance for Credit Losses
Allowance for Credit Losses | 9 Months Ended |
Sep. 30, 2019 | |
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 LHFI segment is presented in the following tables: Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 (Dollars in millions) Commercial Consumer Total Commercial Consumer Total ALLL, beginning of period $1,202 $479 $1,681 $1,080 $535 $1,615 Provision for loan losses 42 88 130 208 201 409 Loan charge-offs (35 ) (104 ) (139 ) (88 ) (289 ) (377 ) Loan recoveries 5 22 27 14 69 83 Other 1 — — — — (31 ) (31 ) ALLL, end of period 1,214 485 1,699 1,214 485 1,699 Unfunded commitments reserve, beginning of period 2 70 — 70 69 — 69 Provision for unfunded commitments 2 — 2 3 — 3 Unfunded commitments reserve, end of period 2 72 — 72 72 — 72 Allowance for credit losses, end of period $1,286 $485 $1,771 $1,286 $485 $1,771 1 Represents the allowance for restructured loans that were transferred from LHFI to LHFS in the first quarter of 2019 and subsequently sold in the second quarter of 2019. 2 The unfunded commitments reserve is recorded in Other liabilities in the Consolidated Balance Sheets. 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)/provision 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. As discussed in Note 1 , “Significant Accounting Policies,” to the Company's 2018 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 LHFI with similar risk characteristics. No allowance is required for LHFI measured at fair value. Additionally, the Company records an immaterial allowance for LHFI 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, 2019 Commercial Loans Consumer Loans Total (Dollars in millions) Carrying Value Related ALLL Carrying Value Related Carrying Value Related LHFI evaluated for impairment: Individually evaluated $339 $71 $1,841 $108 $2,180 $179 Collectively evaluated 84,668 1,143 71,483 377 156,151 1,520 Total evaluated 85,007 1,214 73,324 485 158,331 1,699 LHFI measured at fair value — — 124 — 124 — Total LHFI $85,007 $1,214 $73,448 $485 $158,455 $1,699 December 31, 2018 Commercial Loans Consumer Loans Total (Dollars in millions) Carrying Related ALLL Carrying Related Carrying Related LHFI evaluated for impairment: Individually evaluated $149 $13 $2,462 $154 $2,611 $167 Collectively evaluated 80,791 1,067 68,274 381 149,065 1,448 Total evaluated 80,940 1,080 70,736 535 151,676 1,615 LHFI measured at fair value — — 163 — 163 — Total LHFI $80,940 $1,080 $70,899 $535 $151,839 $1,615 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 9 Months Ended |
Sep. 30, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | NOTE 8 – GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill The Company conducts a qualitative goodwill assessment at the reporting unit level at least quarterly, 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. The Company performed a qualitative goodwill assessment for the Consumer and Wholesale reporting units in the first, second, and third quarters of 2019, and concluded that a quantitative goodwill impairment test was not necessary for either reporting unit as it was more-likely-than-not that the fair value of both reporting units were greater than their respective carrying amounts. See Note 1 , “Significant Accounting Policies,” to the Company's 2018 Annual Report on Form 10-K for additional information and the Company’s goodwill accounting policy. There were no changes in the carrying amount of goodwill by reportable segment for the nine months ended September 30, 2019 . Changes in the carrying amount of goodwill by reportable segment for the nine months ended September 30, 2018 are presented in the following table. (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 MSRs - Amortized Cost Other Total Balance, January 1, 2019 $1,983 $66 $13 $2,062 Amortization 1 — (8 ) (1 ) (9 ) Servicing rights originated 237 14 — 251 Changes in fair value: Due to changes in inputs and assumptions 2 (439 ) — — (439 ) Other changes in fair value 3 (215 ) — — (215 ) Servicing rights sold (2 ) — — (2 ) Balance, September 30, 2019 $1,564 $72 $12 $1,648 Balance, January 1, 2018 $1,710 $65 $16 $1,791 Amortization 1 — (11 ) (2 ) (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 $64 $14 $2,140 1 Does not include expense associated with community development investments. See Note 11 , “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. The gross carrying value and accumulated amortization of other intangible assets are presented in the following table: September 30, 2019 December 31, 2018 (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 MSRs $109 ($37 ) $72 $95 ($29 ) $66 Other 6 (6 ) — 6 (5 ) 1 Unamortized other intangible assets: Residential MSRs 1,564 — 1,564 1,983 — 1,983 Other 12 — 12 12 — 12 Total other intangible assets $1,691 ($43 ) $1,648 $2,096 ($34 ) $2,062 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 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) 2019 2018 2019 2018 Income from residential MSRs 1 $110 $108 $331 $322 1 Recognized in Mortgage-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, 2019 December 31, 2018 UPB of loans underlying residential MSRs $135,029 $140,801 No MSRs on residential loans were purchased during the nine months ended September 30, 2019 . The Company purchased MSRs on residential loans with a UPB of $7.0 billion during the nine months ended September 30, 2018 . During the nine months ended September 30, 2019 and 2018 , the Company sold MSRs on residential loans, at a price approximating their fair value, with a UPB of $708 million and $781 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. For additional information regarding the Company’s residential MSR valuation methodology, see Note 20, “Fair Value Election and Measurement,” to the Company's 2018 Annual Report on Form 10-K . 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, 2019 December 31, 2018 Fair value of residential MSRs $1,564 $1,983 Prepayment rate assumption (annual) 15 % 13 % Decline in fair value from 10% adverse change $95 $96 Decline in fair value from 20% adverse change 180 183 Option adjusted spread (annual) 3 % 2 % Decline in fair value from 10% adverse change $28 $44 Decline in fair value from 20% adverse change 56 86 Weighted-average life (in years) 4.4 5.5 Weighted-average coupon 4.0 % 4.0 % 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 16 , “Derivative Financial Instruments,” for further information regarding these hedging activities. Commercial Mortgage Servicing Rights Income earned by the Company on its commercial MSRs 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) 2019 2018 2019 2018 Income from commercial MSRs 1 $6 $5 $19 $20 Income from subservicing third party commercial mortgages 1 5 3 13 9 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, 2019 December 31, 2018 UPB of commercial mortgages subserviced for third parties $32,725 $28,140 UPB of loans underlying commercial MSRs 7,391 6,399 Total UPB of commercial mortgages serviced for third parties $40,116 $34,539 No commercial MSRs were purchased or sold during the nine months ended September 30, 2019 and 2018 . Commercial MSRs are accounted for at amortized cost and are monitored for impairment on an ongoing basis. The Company calculates the fair value of commercial MSRs 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 MSRs was $72 million and $66 million at September 30, 2019 and December 31, 2018 , respectively. A summary of the significant unobservable inputs used to estimate the fair value of the Company’s commercial 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, 2019 December 31, 2018 Fair value of commercial MSRs $80 $77 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) 7 % 5 % 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) 8.6 8.1 Float earnings rate (annual) 1.1 % 1.1 % Commercial MSR uncertainties are hypothetical and should be used with caution. |
Other Assets (Notes)
Other Assets (Notes) | 9 Months Ended |
Sep. 30, 2019 | |
Other Assets [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, 2019 December 31, 2018 Equity securities 1 : Marketable equity securities: Mutual fund investments $66 $79 Other equity 10 16 Nonmarketable equity securities: Federal Reserve Bank stock 403 403 FHLB stock 334 227 Other equity 84 68 Tax credit investments 2 1,998 1,722 Bank-owned life insurance 1,652 1,627 Lease assets: Operating lease right-of-use assets 3 1,110 — Underlying lessor assets subject to operating leases, net 3 1,090 1,205 Build-to-suit lease assets 993 735 Accrued income 1,106 1,106 Accounts receivable 825 602 Pension assets, net 499 484 Prepaid expenses 285 231 OREO 52 54 Other 489 432 Total other assets $10,996 $8,991 1 Does not include equity securities held for trading purposes classified as Trading assets and derivative instruments or Trading liabilities and derivative instruments on the Company’s Consolidated Balance Sheets. See Note 4 , “Trading Assets and Liabilities and Derivative Instruments,” for more information. 2 See Note 11 , “Certain Transfers of Financial Assets and Variable Interest Entities,” for additional information. 3 See Note 10 , “Leases,” 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. See Note 1 , “Significant Accounting Policies,” to the Company's 2018 Annual Report on Form 10-K for additional information on the Company’s accounting policy for equity securities. The following table summarizes net gains/(losses) on equity securities not classified as trading assets: Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2019 2018 2019 2018 Net (losses)/gains on marketable equity securities 1 ($6 ) ($4 ) ($3 ) $10 Net gains/(losses) on nonmarketable equity securities: Remeasurement losses and impairment — — — — Remeasurement gains 1 16 7 16 30 Less: Net realized gains on sale — — — — Total net unrealized gains on non-trading equity securities $10 $3 $13 $40 1 Recognized in Other noninterest income in the Company’s Consolidated Statements of Income. 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. Build-to-Suit Lease Assets Build-to-suit lease assets includes assets under construction associated with the Company’s build-to-suit leasing arrangements for clients. A direct financing lease, sales-type lease, or operating lease is created after construction of the build-to-suit lease asset is complete. 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 2018 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. Accounts receivable also includes proceeds due from the FHA and the VA on foreclosed real estate related to loans that are 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. |
Leases (Notes)
Leases (Notes) | 9 Months Ended |
Sep. 30, 2019 | |
Leases [Abstract] | |
Leases of Lessee and Lessor Disclosure [Text Block] | NOTE 10 - LEASES The Company adopted ASC Topic 842, Leases , on January 1, 2019 using a modified retrospective transition approach. As permitted by ASC 842, the Company elected not to reassess (i) whether any expired or existing contracts are leases or contain leases, (ii) the lease classification of any expired or existing leases, and (iii) the initial direct costs for existing leases. Lessee Accounting The Company's right-of-use assets, lease liabilities, and associated balance sheet classifications are presented in the following table: (Dollars in millions) Classification September 30, 2019 Assets: Operating lease right-of-use assets Other assets $1,110 Finance lease right-of-use assets Premises, property, and equipment, net 24 Total right-of-use assets $1,134 Liabilities: Operating leases Other liabilities $1,189 Finance leases Long-term debt 26 Total lease liabilities $1,215 The Company leases certain assets, consisting primarily of real estate, and assesses at contract inception whether a contract is, or contains, a lease. A right-of-use asset and lease liability is recorded on the balance sheet for all leases except those with an original lease term of twelve months or less. The Company's leases typically have lease terms between five years and ten years , with the longest lease term having an expiration date in 2081. Most of these leases include one or more renewal options for five years or less, and certain leases also include lessee termination options. At lease commencement, the Company assesses whether it is reasonably certain to exercise a renewal option, or reasonably certain not to exercise a termination option, by considering various economic factors. Options that are reasonably certain of being exercised are factored into the determination of the lease term, and related payments are included in the calculation of the right-of-use asset and lease liability. The Company uses its incremental borrowing rate to calculate the present value of lease payments when the interest rate implicit in a lease is not disclosed. Variable lease payments that are linked to a certain rate or index, such as the CPI , are included in the present value of lease payments and measured using the prevailing rate or index at lease commencement, with changes in the associated rate or index recognized in earnings during the period in which the change occurs. The right-of-use asset and lease liability are not remeasured as a result of any subsequent change in the index or rate unless remeasurement is required for another reason. Variable lease payments that are not linked to a certain rate or index are comprised primarily of operating costs. The Company accounts for each separate lease component of a contract and its associated non-lease components as a single lease component for all of its real estate leases. At September 30, 2019 , the Company had operating leases that had not yet commenced with undiscounted cash flows totaling less than $100 million . Leases that do not commence until a future date generally include executed ground and office space leases where construction is underway and the Company does not control the underlying asset during the construction . The components of total lease cost and other supplemental lease information are presented in the following tables: (Dollars in millions) Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Components of total lease cost: Operating lease cost $49 $152 Finance lease cost: Amortization of right-of-use assets 1 3 Variable lease cost 10 27 Less: Sublease income (1 ) (4 ) Total lease cost, net $59 $178 (Dollars in millions) Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Supplemental lease information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $47 $144 Operating cash flows from finance leases 1 1 Financing cash flows from finance leases 3 5 Lease liabilities arising from obtaining right-of-use assets (subsequent to adoption): Operating leases 7 30 Finance leases — 11 Weighted average remaining lease terms and discount rates are presented in the following table: (Dollars in millions) September 30, 2019 Weighted-average remaining lease term (in years): Operating leases 8.0 Finance leases 7.0 Weighted-average discount rate (annual): Operating leases 3.3 % Finance leases 6.6 The following table presents a maturity analysis of the Company's operating and finance lease liabilities at September 30, 2019 : (Dollars in millions) Operating Leases Finance Leases Total Year 1 $185 $5 $190 Year 2 194 5 199 Year 3 179 5 184 Year 4 158 5 163 Year 5 140 3 143 Thereafter 518 11 529 Total lease payments 1,374 34 1,408 Less: Imputed interest (185 ) (8 ) (193 ) Present value of lease liabilities $1,189 $26 $1,215 Lessor Accounting The Company’s two primary lessor businesses are equipment financing and structured real estate. In addition, the Company is the lessor in circumstances where a portion of its corporate owned real estate is leased to other tenants. Payment terms are typically fixed; however, some agreements contain variable lease payments linked to an index or rate, such as the CPI or LIBOR . In certain agreements, lease payments increase based on a fixed percentage after a set duration of time. Variable lease payments that are based on an index or rate are included in the net lease investment for sales-type or direct financing leases, and are included in lease receivables for operating leases using the prevailing index or rate at lease commencement. The Company has elected to exclude its sales tax collection and remission activity from being reported as lease revenue with an associated expense. The Company’s leases generally do not contain non-lease components. If a lease does contain non-lease components, the Company has elected not to separate lease and non-lease components for each class of underlying asset in which it is the lessor, when the timing and patterns of revenue recognition for the components are the same, and the lease component, if accounted for separately, would be classified as an operating lease. Equipment Financing The Company finances various types of essential-use business equipment, such as transportation and construction equipment, under operating, sales-type, and direct financing leases. Lease terms are generally noncancelable and range between three years and fifteen years . Most lease agreements contain renewal options that range from one month to three years , and are generally reset at the effective fair market value at time of renewal. Certain lease agreements also include an option to purchase the lease asset at least twelve months prior to the end of the lease term. The Company evaluates various inputs when estimating the amount it expects to derive from the underlying asset following the end of the lease term, including but not limited to, appraisals and inputs from third party sources, and historical portfolio experience. The Company manages residual risk on an individual lease basis, and in certain cases, obtains lessee residual value guarantees or enters into remarketing agreements in the event of lessee default or lease termination. The Company performs a review of residual risk annually and obtains a third party appraisal for the majority of leased assets. At September 30, 2019 , the carrying amount of residual assets covered by residual value guarantees was $106 million . Structured Real Estate The Company offers structured real estate arrangements, including build-to-suit arrangements, whereby real property is leased to corporate clients under operating, sales-type, and direct financing leases. These leases typically have noncancelable terms that range between fifteen years and twenty years as well as multiple renewal options that can extend a lease up to an additional twenty years . These leases generally do not have termination or purchase options. When a lease asset is acquired, the amount the Company expects to derive from the underlying asset is estimated using property appraisal values and assumptions regarding the economic life of the asset. The Company manages residual risk through continuous monitoring of the associated asset and credit quality of the lessee, which may include site visits to view the property and surrounding area. In certain cases, the Company may obtain third party residual value guarantees. In most instances, there are no lessee residual value guarantees. Assets are reviewed at least annually for impairment. At September 30, 2019 , the carrying amount of residual assets covered by residual value guarantees was $12 million . The components of total lease income are presented in the following table: (Dollars in millions) Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Interest income from sales-type and direct financing leases $37 $111 Lease income relating to operating leases 52 157 Lease income relating to variable lease payments not included in the measurement of the lease receivable 1 3 Total lease income $90 $271 Components of the Company's net investment in sales-type and direct financing leases are presented in the following table: (Dollars in millions) September 30, 2019 Carrying amount of lease receivables $3,657 Unguaranteed residual assets 149 Net investment in sales-type and direct financing lease assets 1 $3,806 1 Included in LHFS and LHFI on the Company's Consolidated Balance Sheets. The following table presents a maturity analysis of the Company's sales-type and direct financing lease receivables at September 30, 2019 : (Dollars in millions) Sales-Type and Direct Financing Leases Year 1 $876 Year 2 746 Year 3 585 Year 4 411 Year 5 328 Thereafter 1,256 Total lease receivables 4,202 Less: Reconciling items 1 (545 ) Present value of lease receivables $3,657 1 Primarily comprised of interest and guaranteed residual assets. The following table presents a maturity analysis of the Company's operating lease payments to be received as of September 30, 2019 : (Dollars in millions) Operating Leases Year 1 $191 Year 2 155 Year 3 127 Year 4 95 Year 5 94 Thereafter 225 Total lease payments to be received $887 Underlying lessor assets subject to operating leases at September 30, 2019 consisted of the following: (Dollars in millions) Useful life (in years) September 30, 2019 Underlying lessor assets subject to operating leases: 1 Real estate 2 15 - 20 $116 Equipment 2 - 30 1,539 Total underlying lessor assets subject to operating leases 1,655 Less: Accumulated depreciation (565 ) Underlying lessor assets subject to operating leases, net 3 $1,090 1 Excludes owned assets subject to operating leases that are held and used by the Company and which are included in Premises, property, and equipment, net, on the Company's Consolidated Balance Sheets. 2 Includes certain land parcels subject to operating leases that have indefinite lives. 3 Included in Other Assets on the Company's Consolidated Balance Sheets. Depreciation expense on underlying assets subject to operating leases for the three and nine months ended September 30, 2019 totaled $35 million and $106 million |
Certain Transfers of Financial
Certain Transfers of Financial Assets and Variable Interest Entities | 9 Months Ended |
Sep. 30, 2019 | |
Certain Transfers of Financial Assets and Variable Interest Entities [Abstract] | |
Transfers and Servicing of Financial Assets [Text Block] | NOTE 11 - 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 the three and nine months ended September 30, 2019 and 2018 . 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 15 , “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, 2019 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, 2019 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 $108 million and $223 million for the three and nine months ended September 30, 2019 , and pre-tax net gains of $46 million and $53 million for the three and nine months ended September 30, 2018 , 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 16 , "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 15 , “Guarantees,” for additional information regarding representations and warranties. 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, 2019 and December 31, 2018 , the Company’s Consolidated Balance Sheets reflected $147 million and $165 million of assets held by the securitization entity and $143 million and $161 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 $9 million and $28 million for the three and nine months ended September 30, 2019 , and pre-tax net gains of $8 million and $22 million for the three and nine months ended September 30, 2018 , 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 15 , “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, 2019 and December 31, 2018 , as well as the related net charge-offs for the three and nine months ended September 30, 2019 and 2018 . Portfolio Balance Past Due and Nonaccrual Net Charge-offs September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2019 2018 2019 2018 LHFI portfolio: Commercial $85,007 $80,940 $366 $175 $30 $42 $74 $76 Consumer 73,448 70,899 1,627 2,003 82 46 220 164 Total LHFI portfolio 158,455 151,839 1,993 2,178 112 88 294 240 Managed securitized loans: Commercial 1 7,391 6,399 7 — — — — — Consumer 134,515 139,809 114 146 — 2 1 2 1 2 5 2 Total managed securitized loans 141,906 146,208 121 146 — 1 1 5 Managed unsecuritized loans 3 514 1,134 61 152 — — — — Total managed loans $300,875 $299,181 $2,175 $2,476 $112 $89 $295 $245 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 $212 million and $387 million of managed securitized loans at September 30, 2019 and December 31, 2018 , respectively. Net charge-off data is not reported to the Company for the remaining balance of $134.3 billion and $139.4 billion of managed securitized loans at September 30, 2019 and December 31, 2018 , 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 presents 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, 2019 December 31, 2018 September 30, 2019 December 31, 2018 Carrying value of investments 1 $1,943 $1,636 $55 $86 Maximum exposure to loss related to investments 2 2,379 2,207 241 138 1 At September 30, 2019 and December 31, 2018 , the carrying value of community development investments excludes $67 million and $68 million of investments in funds that do not qualify for tax credits, respectively. 2 At September 30, 2019 and December 31, 2018 , the Company's maximum exposure to loss related to community development investments includes $470 million and $422 million of loans and $593 million and $639 million of unfunded equity commitments, respectively. At September 30, 2019 and December 31, 2018 , the Company's maximum exposure to loss related to renewable energy partnerships includes $186 million and $52 million 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) 2019 2018 2019 2018 2019 2018 2019 2018 Qualified affordable housing partnerships $33 $28 $98 $87 $35 $29 $103 $92 Other community development investments 25 23 64 62 21 19 53 49 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, 2019 and December 31, 2018 , the outstanding notional amount of the Company's VIE-facing TRS contracts totaled $2.5 billion and $2.0 billion , and related loans outstanding to VIEs totaled $2.5 billion and $2.0 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 16 , “Derivative Financial Instruments,” as well as Note 12, "Certain Transfers of Financial Assets and Variable Interest Entities," to the Company's 2018 Annual Report on Form 10-K. |
Net Income Per Common Share
Net Income Per Common Share | 9 Months Ended |
Sep. 30, 2019 | |
Earnings Per Share [Abstract] | |
Net Income/(Loss) Per Share | NOTE 12 – 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. Three Months Ended September 30 Nine Months Ended September 30 (Dollars and shares in millions, except per share data) 2019 2018 2019 2018 Net income $623 $752 $1,891 $2,117 Less: Preferred stock dividends (26 ) (26 ) (77 ) (81 ) Net income available to common shareholders $597 $726 $1,814 $2,036 Average common shares outstanding - basic 444.0 460.3 443.8 464.8 Add dilutive securities: RSUs 2.6 3.0 2.4 2.8 Common stock warrants, options, and restricted stock 0.4 0.9 0.5 1.4 Average common shares outstanding - diluted 447.0 464.2 446.7 469.0 Net income per average common share - diluted $1.34 $1.56 $4.06 $4.34 Net income per average common share - basic 1.35 1.58 4.09 4.38 |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | NOTE 13 - INCOME TAXES For the three months ended September 30, 2019 and 2018 , the provision for income taxes was $122 million and $95 million , representing effective tax rates of 16% and 11% , respectively. For the nine months ended September 30, 2019 and 2018 , the provision for income taxes was $330 million and $412 million , representing effective tax rates of 15% and 16% , respectively. The effective tax rates for the nine months ended September 30, 2019 and 2018 were favorably impacted by $56 million and $71 million of net discrete income tax benefits, respectively. The $56 million net discrete income tax benefit for the nine months ended September 30, 2019 was driven by $33 million of tax benefits related to changes in the liability for unrecognized tax benefits due to the completion of certain income tax authority examinations and the expiration of statutes of limitation, $12 million of tax benefits related to stock-based compensation, and $11 million of tax benefits related primarily to federal and state income tax true-ups. 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, 2019 | |
Defined Contribution Plan Disclosure [Line Items] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | NOTE 14 - 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 17, “Employee Benefit Plans,” to the Company's 2018 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) 2019 2018 2019 2018 RSUs $30 $21 $84 $82 Phantom stock units 1 3 10 28 36 Total stock-based compensation expense $33 $31 $112 $118 Stock-based compensation tax benefit 2 $8 $8 $27 $28 1 Phantom stock units are settled in cash. During the three and nine months ended September 30, 2019 , the Company paid less than $1 million and $44 million , respectively, related to these share-based liabilities. 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. 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) 2019 2018 2019 2018 2019 2018 2019 2018 Service cost $1 $1 $4 $4 $— $— $— $— Interest cost 23 23 70 68 — — 1 1 Expected return on plan assets (36 ) (47 ) (110 ) (140 ) (1 ) (1 ) (4 ) (4 ) Amortization of prior service credit — — — — (1 ) (2 ) (4 ) (5 ) Amortization of actuarial loss 6 6 18 17 — — — — Net periodic benefit ($6 ) ($17 ) ($18 ) ($51 ) ($2 ) ($3 ) ($7 ) ($8 ) 1 Administrative fees are recognized in service cost for each of the periods presented. |
Guarantees
Guarantees | 9 Months Ended |
Sep. 30, 2019 | |
Guarantees [Abstract] | |
Guarantees | NOTE 15 – 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, 2019 . 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 16 , “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, 2019 and December 31, 2018 , the maximum potential exposure to loss related to the Company’s issued letters of credit was $2.6 billion and $2.9 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, 2019 and December 31, 2018 . 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) 2019 2018 2019 2018 Balance, beginning of period $23 $36 $26 $39 Repurchase (benefit)/provision (1 ) 1 (4 ) (2 ) Charge-offs, net of recoveries — (1 ) — (1 ) Balance, end of period $22 $36 $22 $36 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 (benefit)/provision is recognized in Mortgage-related income in the Consolidated Statements of Income. The following table summarizes the carrying value of the Company’s outstanding repurchased residential mortgage loans: (Dollars in millions) September 30, December 31, 2018 Outstanding repurchased residential mortgage loans: Performing LHFI $135 $183 Nonperforming LHFI 9 16 Total carrying value of outstanding repurchased residential mortgages $144 $199 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 $3.9 billion and $3.5 billion at September 30, 2019 and December 31, 2018 , respectively. The maximum potential exposure to loss was $1.2 billion and $1.0 billion at September 30, 2019 and December 31, 2018 , respectively. Using probability of default and severity of loss estimates, the Company’s loss share liability was $7 million and $5 million at September 30, 2019 and December 31, 2018 , 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 was reached and the settlement was preliminarily approved by the district court on January 24, 2019. 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 certain litigation scenarios and the timing of the resolution of the Litigation. The fair value of the derivative liability was $8 million and $7 million at September 30, 2019 and December 31, 2018 , 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, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | NOTE 16 - 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 market risk management 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 and 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, 2019 , the economic exposure of these net derivative asset positions was $1.4 billion , reflecting $1.8 billion of net derivative gains, adjusted for cash and other collateral of $374 million that the Company held in relation to these positions. At December 31, 2018 , the economic exposure of net derivative asset positions was $541 million , reflecting $891 million of net derivative gains, adjusted for cash and other collateral held of $350 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, the CVA , the Company’s own credit risk, the DVA , as well as the Company's net exposure, which considers legally enforceable master netting agreements and collateral along with remaining maturities. In determining the CVA , the expected loss associated with 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 DVA , the Company uses probabilities of default from observable, sector/rating based CDS data. For additional information on the Company’s fair value measurements, see Note 17 , “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 or a counterparty default under any of these provisions, the other party would be permitted to close out the transactions 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 non-defaulting counterparty would have the right to apply any collateral posted under a CSA against the net amount owed by the defaulting counterparty. Additionally, certain of the Company’s derivative liability positions, totaling $1.4 billion and $589 million in fair value at September 30, 2019 and December 31, 2018 , 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, 2019 , the Bank held senior long-term debt credit ratings of Baal / A- / A- from Moody’s , S&P , and Fitch , respectively. At September 30, 2019 , 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 $19 million at September 30, 2019 . At September 30, 2019 , $1.4 billion in fair value of derivative liabilities were subject to CSA s, against which the Bank has posted $958 million in collateral, primarily in the form of cash. Pursuant to the terms of the CSA , the Bank would not be required to post any additional collateral 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 $1 million and $8 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, 2019 and December 31, 2018 . The notional amounts in the table are presented on a gross basis at September 30, 2019 and December 31, 2018 . 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, 2019 December 31, 2018 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 $15,225 $— $1 $10,500 $1 $2 Subtotal 15,225 — 1 10,500 1 2 Fair value hedges: 2 Interest rate contracts hedging fixed rate debt 12,155 — — 9,550 1 1 Interest rate contracts hedging brokered time deposits — — — 59 — — Subtotal 12,155 — — 9,609 1 1 Derivative instruments not designated as hedging instruments 3 Interest rate contracts hedging: Residential MSRs 4 19,300 43 24 28,011 54 10 LHFS, IRLCs 5 6,688 10 12 4,891 18 38 LHFI 102 — — 159 — — Trading activity 6 147,485 1,706 709 127,286 771 687 Foreign exchange rate contracts hedging loans and trading activity 11,954 185 182 9,824 129 119 Credit contracts hedging: LHFI 918 — 28 830 — 14 Trading activity 7 5,136 38 34 4,058 97 95 Equity contracts hedging trading activity 6 36,181 1,774 1,939 34,471 1,447 1,644 Other contracts: IRLCs and other 8 3,763 28 11 1,393 20 15 Commodity derivatives 2,491 94 91 2,020 93 91 Subtotal 234,018 3,878 3,030 212,943 2,629 2,713 Total derivative instruments $261,398 $3,878 $3,031 $233,052 $2,631 $2,716 Total gross derivative instruments (before netting) $3,878 $3,031 $2,631 $2,716 Less: Legally enforceable master netting agreements (1,750 ) (1,750 ) (1,654 ) (1,654 ) Less: Cash collateral received/paid (358 ) (1,007 ) (338 ) (652 ) Total derivative instruments (after netting) $1,770 $274 $639 $410 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 $753 million and $921 million related to interest rate futures at September 30, 2019 and December 31, 2018 , 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 $53 million and $116 million related to interest rate futures at September 30, 2019 and December 31, 2018 , 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 $2.7 billion and $1.2 billion related to interest rate futures at September 30, 2019 and December 31, 2018 , and $210 million and $136 million related to equity futures at September 30, 2019 and December 31, 2018 , 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 $9 million and $6 million from purchased credit risk participation agreements at September 30, 2019 and December 31, 2018 , and $41 million and $33 million from written credit risk participation agreements at September 30, 2019 and December 31, 2018 , 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 related to the Visa derivative liability at both September 30, 2019 and December 31, 2018 . See Note 15 , "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, 2019 and December 31, 2018 , 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, 2019 Derivative instrument assets: Derivatives subject to master netting arrangement or similar arrangement $3,269 $1,973 $1,296 $15 $1,281 Derivatives not subject to master netting arrangement or similar arrangement 143 — 143 1 142 Exchange traded derivatives 466 135 331 — 331 Total derivative instrument assets $3,878 $2,108 $1,770 1 $16 $1,754 Derivative instrument liabilities: Derivatives subject to master netting arrangement or similar arrangement $2,787 $2,622 $165 $18 $147 Derivatives not subject to master netting arrangement or similar arrangement 109 — 109 13 96 Exchange traded derivatives 135 135 — — — Total derivative instrument liabilities $3,031 $2,757 $274 2 $31 $243 December 31, 2018 Derivative instrument assets: Derivatives subject to master netting arrangement or similar arrangement $2,425 $1,873 $552 $12 $540 Derivatives not subject to master netting arrangement or similar arrangement 20 — 20 — 20 Exchange traded derivatives 186 119 67 — 67 Total derivative instrument assets $2,631 $1,992 $639 1 $12 $627 Derivative instrument liabilities: Derivatives subject to master netting arrangement or similar arrangement $2,521 $2,187 $334 $14 $320 Derivatives not subject to master netting arrangement or similar arrangement 76 — 76 — 76 Exchange traded derivatives 119 119 — — — Total derivative instrument liabilities $2,716 $2,306 $410 2 $14 $396 1 At September 30, 2019 , $1.8 billion , net of $358 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2018 , $639 million , net of $338 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. 2 At September 30, 2019 , $274 million , net of $1.0 billion offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2018 , $410 million , net of $652 million 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. For all designated fair value hedge relationships, 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. 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 contractually specified interest rate risk associated with floating rate loans. For the three and nine months ended September 30, 2019 , the amount of pre-tax gain recognized in OCI on derivative instruments was $61 million and $266 million , respectively. 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. At September 30, 2019 , the maturities for hedges of floating rate loans ranged from less than one year to seven years , with the weighted average being 3.3 years . At December 31, 2018 , the maturities for hedges of floating rate loans ranged from less than one year to five years , with the weighted average being 2.5 years . These hedges have been highly effective in offsetting the designated risks. At September 30, 2019 , $158 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. 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. The table does not disclose the financial impact of the activities that these derivative instruments are intended to hedge. Net Interest Income (Dollars in millions) Interest and fees on LHFI Interest on Long-term Debt Total Three Months Ended September 30, 2019 Interest income/(expense), including the effects of fair value and cash flow hedges $1,708 ($150 ) $1,558 (Loss)/gain on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $— ($1 ) ($1 ) Recognized on derivatives — 43 43 Recognized on hedged items — (47 ) 1 (47 ) Net expense recognized on fair value hedges $— ($5 ) ($5 ) Loss on cash flow hedging relationships: Interest rate contracts: Amount of pre-tax loss reclassified from AOCI into income ($46 ) 2 $— ($46 ) Net expense recognized on cash flow hedges ($46 ) $— ($46 ) Nine Months Ended September 30, 2019 Interest income/(expense), including the effects of fair value and cash flow hedges $5,125 ($425 ) $4,700 (Loss)/gain on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $— ($10 ) ($10 ) Recognized on derivatives — 267 267 Recognized on hedged items — (282 ) 1 (282 ) Net expense recognized on fair value hedges $— ($25 ) ($25 ) Loss on cash flow hedging relationships: Interest rate contracts: Amount of pre-tax loss reclassified from AOCI into income ($129 ) 2 $— ($129 ) Net expense recognized on cash flow hedges ($129 ) $— ($129 ) Three Months Ended September 30, 2018 Interest income/(expense), including the effects of fair value and cash flow hedges $1,549 ($95 ) $1,454 (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 ) $4,172 (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 ) 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, 2019 Long-term debt $11,295 $180 ($28 ) December 31, 2018 Long-term debt $8,411 ($10 ) ($120 ) 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 Gain/(Loss) Recognized in Income on Derivatives Amount of Gain/(Loss) Recognized in Income on Derivatives During the Three Months Ended September 30 Amount of Gain/(Loss) Recognized in Income on Derivatives During the Nine Months Ended September 30 (Dollars in millions) 2019 2018 2019 2018 Derivative instruments not designated as hedging instruments: Interest rate contracts hedging: Residential MSRs Mortgage-related income $166 ($54 ) $436 ($210 ) LHFS, IRLCs Mortgage-related income (31 ) 10 (76 ) 57 LHFI Other noninterest income (1 ) 1 (4 ) 3 Trading activity Trading income 1 18 22 48 Foreign exchange rate contracts hedging loans and trading activity Trading income 39 9 46 49 Credit contracts hedging: LHFI Other noninterest income (1 ) (5 ) (16 ) (5 ) Trading activity Trading income 7 5 20 16 Equity contracts hedging trading activity Trading income 6 6 34 8 Other contracts: IRLCs and other Mortgage-related income; 58 19 144 39 Commodity derivatives Trading income 1 — 2 — Total $245 $9 $608 $5 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. 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. The following table presents information related to the Company's outstanding TRS contracts. (Dollars in millions) September 30, 2019 December 31, 2018 Outstanding TRS notional balances $2,543 $2,009 TRS assets at fair value 38 97 TRS liabilities at fair value 34 94 Cash collateral held for TRS contracts 635 601 For additional information on the Company’s TRS contracts, see Note 11 , “Certain Transfers of Financial Assets and Variable Interest Entities,” in this Form 10-Q as well as Note 20, “Fair Value Election and Measurement,” to the Company’s 2018 Annual Report on Form 10-K. 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, 2019 , 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 6.0 years . At December 31, 2018 , the remaining terms on these risk participations generally ranged from less than one year to 10 years , with a weighted average term on the maximum estimated exposure of 5.9 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 $281 million and $217 million at September 30, 2019 and December 31, 2018 , respectively. The fair values of the written risk participations were immaterial at both September 30, 2019 and December 31, 2018 . |
Fair Value Election and Measure
Fair Value Election and Measurement | 9 Months Ended |
Sep. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Election and Measurement | NOTE 17 - 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, derivative instruments, securities AFS, and certain other equity securities. Assets and liabilities that the Company has elected to measure at fair value on a recurring basis include trading loans, certain LHFS and LHFI, residential MSRs, brokered time deposits, and certain structured notes and fixed rate issuances included in long-term debt. 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 an 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. There have been no significant changes in the Company’s valuation techniques or inputs used in estimating fair value for assets and liabilities measured on a recurring basis from those disclosed in Note 20, “Fair Value Election and Measurement,” to the Company's 2018 Annual Report on Form 10-K . September 30, 2019 Fair Value Measurements Netting Adjustments 1 Assets/Liabilities at Fair Value (Dollars in millions) Level 1 Level 2 Level 3 Assets Trading assets and derivative instruments: U.S. Treasury securities $212 $— $— $— $212 Federal agency securities — 319 — — 319 U.S. states and political subdivisions — 43 — — 43 MBS - agency residential — 1,004 — — 1,004 MBS - agency commercial — 51 — — 51 ABS — 7 — — 7 Corporate and other debt securities — 628 — — 628 CP — 122 — — 122 Equity securities 86 — — — 86 Derivative instruments 466 3,385 27 (2,108 ) 1,770 Trading loans 2 — 2,862 — — 2,862 Total trading assets and derivative instruments 764 8,421 27 (2,108 ) 7,104 Securities AFS: U.S. Treasury securities 4,018 — — — 4,018 Federal agency securities — 124 — — 124 U.S. states and political subdivisions — 572 — — 572 MBS - agency residential — 22,585 — — 22,585 MBS - agency commercial — 2,983 — — 2,983 MBS - non-agency commercial — 1,064 — — 1,064 Corporate and other debt securities — 12 — — 12 Total securities AFS 4,018 27,340 — — 31,358 LHFS — 1,488 — — 1,488 LHFI — — 124 — 124 Residential MSRs — — 1,564 — 1,564 Other assets 76 — — — 76 Liabilities Trading liabilities and derivative instruments: U.S. Treasury securities 538 — — — 538 Corporate and other debt securities — 539 — — 539 Equity securities 20 — — — 20 Derivative instruments 135 2,886 10 (2,757 ) 274 Trading loans — 9 — — 9 Total trading liabilities and derivative instruments 693 3,434 10 (2,757 ) 1,380 Brokered time deposits — 552 — — 552 Long-term debt — 302 — — 302 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 16 , “Derivative Financial Instruments,” for additional information. 2 At September 30, 2019 , includes $2.5 billion of loans related to the Company’s TRS business, $70 million of loans related to the Company’s loan sales and trading business held in inventory, and $227 million of loans backed by the SBA held in inventory. December 31, 2018 Fair Value Measurements Netting Adjustments 1 Assets/Liabilities at Fair Value (Dollars in millions) Level 1 Level 2 Level 3 Assets Trading assets and derivative instruments: U.S. Treasury securities $262 $— $— $— $262 Federal agency securities — 188 — — 188 U.S. states and political subdivisions — 54 — — 54 MBS - agency residential — 860 — — 860 Corporate and other debt securities — 700 — — 700 CP — 190 — — 190 Equity securities 73 — — — 73 Derivative instruments 186 2,425 20 (1,992 ) 639 Trading loans 2 — 2,540 — — 2,540 Total trading assets and derivative instruments 521 6,957 20 (1,992 ) 5,506 Securities AFS: U.S. Treasury securities 4,211 — — — 4,211 Federal agency securities — 221 — — 221 U.S. states and political subdivisions — 589 — — 589 MBS - agency residential — 22,864 — — 22,864 MBS - agency commercial — 2,627 — — 2,627 MBS - non-agency commercial — 916 — — 916 Corporate and other debt securities — 14 — — 14 Total securities AFS 4,211 27,231 — — 31,442 LHFS — 1,178 — — 1,178 LHFI — — 163 — 163 Residential MSRs — — 1,983 — 1,983 Other assets 95 — — — 95 Liabilities Trading liabilities and derivative instruments: U.S. Treasury securities 801 — — — 801 MBS - agency — 3 — — 3 Corporate and other debt securities — 385 — — 385 Equity securities 5 — — — 5 Derivative instruments 119 2,590 7 (2,306 ) 410 Total trading liabilities and derivative instruments 925 2,978 7 (2,306 ) 1,604 Brokered time deposits — 403 — — 403 Long-term debt — 289 — — 289 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 16 , “Derivative Financial Instruments,” for additional information. 2 At December 31, 2018 , includes $2.0 billion of loans related to the Company’s TRS business, $137 million of loans related to the Company’s loan sales and trading business held in inventory, and $366 million of loans backed by the SBA loans held in inventory, measured at fair value. 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, 2019 Aggregate UPB at September 30, 2019 Fair Value Over/(Under) Unpaid Principal Assets: Trading loans $2,862 $2,779 $83 LHFS: Accruing 1,488 1,446 42 LHFI: Accruing 121 119 2 Nonaccrual 3 4 (1 ) Liabilities: Trading loans 9 9 — Brokered time deposits 552 539 13 Long-term debt 302 290 12 (Dollars in millions) Fair Value at December 31, 2018 Aggregate UPB at December 31, 2018 Fair Value Over/(Under) Unpaid Principal Assets: Trading loans $2,540 $2,526 $14 LHFS: Accruing 1,178 1,128 50 LHFI: Accruing 158 163 (5 ) Nonaccrual 5 6 (1 ) Liabilities: Brokered time deposits 403 403 — Long-term debt 289 286 3 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-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 (Loss)/Gain for the Three Months Ended September 30, 2019 for Items Measured at Fair Value Pursuant to Election of the FVO Fair Value Gain/(Loss) for the Nine Months Ended September 30, 2019 for Items Measured at Fair Value Pursuant to Election of the FVO (Dollars in millions) Trading Income Mortgage 1 Related Income Other Noninterest Income Total 2 Changes in Fair Values Included in Earnings Trading Income Mortgage 1 Related Other Noninterest Income Total 2 Changes in Fair Values Included in Earnings Assets: Trading loans 3 ($1 ) $— $— ($1 ) $18 $— $— $18 LHFS 4 — 40 — 40 — 80 — 80 LHFI — — 2 2 — — 5 5 Residential MSRs — (250 ) — (250 ) — (650 ) — (650 ) Liabilities: Brokered time deposits (3 ) — — (3 ) (24 ) — — (24 ) Long-term debt (2 ) — — (2 ) (15 ) — — (15 ) 1 Income related to LHFS does not include income from IRLC s. For the three and nine months ended September 30, 2019 , 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, 2019 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 Includes an immaterial amount of gains or losses in the Consolidated Statements of Income due to changes in fair value attributable to instrument-specific credit risk for three and nine months ended September 30, 2019 . 4 Includes an immaterial amount of gains or losses in the Consolidated Statements of Income due to changes in fair value attributable to borrower-specific credit risk for the three and nine months ended September 30, 2019 . 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 1 Related Income Other Noninterest Income Total 2 Changes in Fair Values Included in Earnings Trading Mortgage 1 Related Income Other Total 2 Changes in Fair Values Included in Earnings Assets: Trading loans 3 $3 $— $— $3 $10 $— $— $10 LHFS 4 — 5 — 5 — (3 ) — (3 ) LHFI — — (1 ) (1 ) — — (4 ) (4 ) Residential MSRs — (8 ) — (8 ) — 22 — 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. 3 Includes an immaterial amount of gains or losses in the Consolidated Statements of Income due to changes in fair value attributable to instrument-specific credit risk for three and nine months ended September 30, 2018 . 4 Includes an immaterial amount of gains or losses in the Consolidated Statements of Income due to changes in fair value attributable to borrower-specific credit risk for the three and nine months ended September 30, 2018 . 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, 2019 Valuation Technique Unobservable Input Range (Weighted Average) 1 Assets Trading assets and derivative instruments: Derivative instruments, net 2 $17 Internal model Pull through rate 2-100% (83%) MSR value 21-155 bps (102 bps) LHFI 121 Monte Carlo/Discounted cash flow Option adjusted spread 62-250 bps (172 bps) Conditional prepayment rate 7-31 CPR (16 CPR) Conditional default rate 0-2 CDR (0.5 CDR) 3 Collateral based pricing Appraised value NM 3 Residential MSRs 1,564 Monte Carlo/Discounted cash flow Conditional prepayment rate 6-31 CPR (15 CPR) Option adjusted spread 1-29% (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 in Note 20, “Fair Value Election and Measurement,” to the Company's 2018 Annual Report on Form 10-K , 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, 2018 Valuation Technique Unobservable Input Range (Weighted Average) 1 Assets Trading assets and derivative instruments: Derivative instruments, net 2 $13 Internal model Pull through rate 41-100% (81%) MSR value 11-165 bps (108 bps) LHFI 158 Monte Carlo/Discounted cash flow Option adjusted spread 0-250 bps (164 bps) Conditional prepayment rate 7-22 CPR (12 CPR) Conditional default rate 0-1 CDR (0.6 CDR) 5 Collateral based pricing Appraised value NM 3 Residential MSRs 1,983 Monte Carlo/Discounted cash flow Conditional prepayment rate 6-30 CPR (13 CPR) Option adjusted spread 0-116% (2%) 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 in Note 20, “Fair Value Election and Measurement,” to the Company's 2018 Annual Report on Form 10-K , for a discussion of valuation assumptions related to the Visa derivative liability. 3 Not meaningful. The following tables present a reconciliation of the beginning and ending balances for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (other than residential MSRs which are disclosed in Note 8 , “Goodwill and Other Intangible Assets”). Transfers into and out of the fair value hierarchy levels are assumed to occur at the end of the period in which the transfer occurred. None of the transfers into or out of level 3 have been the result of using alternative valuation approaches to estimate fair values. 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 Trading assets: Derivative instruments, net $24 $60 1 $— $— $— ($3 ) ($64 ) 2 $— $— $17 LHFI 127 2 3 — — — (6 ) — 1 — 124 (Dollars in millions) Beginning Included OCI Purchases Sales Settlements Transfers to/from Other Balance Sheet Line Items Transfers Transfers Fair Value Trading assets: Derivative instruments, net $13 $147 1 $— $— $— ($5 ) ($138 ) 2 $— $— $17 LHFI 163 5 3 — — — (21 ) — 2 (25 ) 124 1 Includes issuances, fair value changes, and expirations. Amount related to residential IRLC s is recognized in Mortgage-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 $23 million in earnings during both the three and nine months ended September 30, 2019 , related to changes in unrealized gains on net derivative instruments still held at September 30, 2019 . 2 During the three and nine months ended September 30, 2019 , the Company transferred $64 million and $138 million , respectively, of net IRLC assets out of level 3 as the associated loans were closed. 3 Amounts are generally included in Mortgage-related income; however, the mark on certain fair value loans is included in Other noninterest income. Included $3 million and $5 million in earnings during the three and nine months ended September 30, 2019 , respectively, related to changes in unrealized gains on LHFI still held at September 30, 2019 . 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 Trading assets: Derivative instruments, net $3 $18 1 $— $— $— $8 ($26 ) 2 $— $— $3 LHFI 177 — 3 — — — (9 ) — — — 168 (Dollars in millions) Beginning Included OCI Purchases Sales Settlements Transfers to/from Other Balance Sheet Line Items Transfers Transfers Fair Value Trading assets: Derivative instruments, net $— $36 1 $— $— $— $10 ($43 ) 2 $— $— $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 ) 3 — — — (26 ) — 1 — 168 1 Includes issuances, fair value changes, and expirations. Amount related to residential IRLC s is recognized in Mortgage-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 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. 3 Amounts are generally included in Mortgage-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 . Non-recurring Fair Value Measurements The following tables present gains and losses recognized on assets still held at period end, and measured at fair value on a non-recurring basis, for the three and nine months ended September 30, 2019 and the year ended December 31, 2018 . Adjustments to fair value generally result from the application of LOCOM , or the measurement alternative, or through write-downs of individual assets. The tables do not reflect changes in fair value attributable to economic hedges the Company may have used to mitigate interest rate risk associated with LHFS. Fair Value Measurements (Losses)/Gains for the (Losses)/Gains for the Nine Months Ended September 30, 2019 (Dollars in millions) September 30, 2019 Level 1 Level 2 Level 3 LHFS $311 $— $311 $— ($14 ) ($14 ) LHFI 128 — — 128 — — OREO 22 — — 22 (1 ) (3 ) Other assets 74 — 61 13 16 14 Fair Value Measurements (Losses)/Gains for the December 31, 2018 (Dollars in millions) December 31, 2018 Level 1 Level 2 Level 3 LHFS $47 $— $47 $— ($1 ) LHFI 63 — — 63 — OREO 19 — — 19 (4 ) Other assets 67 — 47 20 24 Discussed below are the valuation techniques and inputs used in estimating fair values for assets measured at fair value on a non-recurring basis and classified as level 2 and/or 3. Loans Held for Sale At September 30, 2019 and December 31, 2018 , LHFS classified as level 2 consisted of commercial loans that were valued using market prices and measured at LOCOM . During both the three and nine months ended September 30, 2019 , the Company recognized impairment charges of $14 million attributable to changes in the fair value of LHFS. During the year ended December 31, 2018 , the Company recognized an immaterial amount of impairment charges attributable to changes in the fair value of LHFS. Loans Held for Investment At September 30, 2019 and December 31, 2018 , LHFI classified as level 3 consisted primarily of consumer loans discharged in Chapter 7 bankruptcy that had not been reaffirmed by the borrower. Cash proceeds from the sale of the underlying collateral is the expected source of repayment for a majority of these loans. Accordingly, the fair value of these loans is derived from the estimated fair value of the underlying collateral, incorporating market data if available. Due to the lack of market data for similar assets, all of these loans are classified as level 3. There were no gains/(losses) recognized during the three and nine months ended September 30, 2019 or during the year ended December 31, 2018 , as the charge-offs related to these loans are a component of the ALLL. OREO OREO is measured at the lower of cost or fair value less costs to sell. Level 3 OREO consists primarily of residential homes, commercial properties, and vacant lots and land for which initial valuations are based on property-specific appraisals, broker pricing opinions, or other limited, highly subjective market information. Updated value estimates are received regularly for level 3 OREO . Other Assets Other assets consist of equity investments, other repossessed assets, assets under operating leases where the Company is the lessor, branch properties, and land held for sale. The Company elected the measurement alternative for measuring certain equity securities without readily determinable fair values, which are adjusted based on any observable price changes in orderly transactions. These equity securities are classified as level 2 based on the valuation methodology and associated inputs. During both the three and nine months ended September 30, 2019 , the Company recognized remeasurement gains of $16 million on these equity securities. During the year ended December 31, 2018 , the Company recognized remeasurement gains of $30 million on these equity securities. Other repossessed assets include repossessed personal property that is measured at fair value less cost to sell. These assets are classified as level 3 as their fair value is determined based on a variety of subjective, unobservable factors. There were no losses recognized in earnings by the Company on other repossessed assets during the three and nine months ended September 30, 2019 or during the year ended December 31, 2018 , as the impairment charges on repossessed personal property were a component of the ALLL. The Company monitors the fair value of assets under operating leases where the Company is the lessor and recognizes impairment on the leased asset to the extent the carrying value is not recoverable and is greater than its fair value. Fair value is determined using collateral specific pricing digests, external appraisals, broker opinions, recent sales data from industry equipment dealers, and the discounted cash flows derived from the underlying lease agreement. As market data for similar assets and lease arrangements is available and used in the valuation, these assets are considered level 2. During the three and nine months ended September 30, 2019 and the year ended December 31, 2018 , the Company recognized an immaterial amount of impairment charges attributable to changes in the fair value of various personal property under operating leases. Branch properties are classified as level 3, as their fair value is based on property-specific appraisals and broker opinions. No impairment charges were recognized on branch properties during the three months ended September 30, 2019 and an immaterial amount was recognized during the nine months ended September 30, 2019 . During the year ended December 31, 2018 , the Company recognized impairment charges of $5 million on branch properties. Land held for sale is recorded at the lesser of carrying value or fair value less cost to sell, and is considered level 3 as its fair value is determined based on property-specific appraisals and broker opinions. No impairment charges were recognized on land held for sale during the three months ended September 30, 2019 . During the nine months ended September 30, 2019 and the year ended December 31, 2018 , the Company recognized an immaterial amount of impairment charges on land held for sale. Fair Value of Financial Instruments The carrying amounts and fair values of the Company’s financial instruments are as follows: September 30, 2019 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 $9,184 $9,184 $9,184 $— $— Trading assets and derivative instruments Fair value 7,104 7,104 764 6,313 27 Securities AFS Fair value 31,358 31,358 4,018 27,340 — LHFS Amortized cost 518 525 — 448 77 Fair value 1,488 1,488 — 1,488 — LHFI, net Amortized cost 156,632 156,222 — — 156,222 Fair value 124 124 — — 124 Other 1 Amortized cost 737 737 — — 737 Fair value 76 76 76 — — Financial liabilities: Consumer and other time deposits Amortized cost 16,727 16,637 — 16,637 — Brokered time deposits Amortized cost 993 964 — 964 — Fair value 552 552 — 552 — Short-term borrowings Amortized cost 7,144 7,144 — 7,144 — Long-term debt Amortized cost 20,067 20,257 — 18,490 1,767 Fair value 302 302 — 302 — Trading liabilities and derivative instruments Fair value 1,380 1,380 693 677 10 December 31, 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 $7,495 $7,495 $7,495 $— $— Trading assets and derivative instruments Fair value 5,506 5,506 521 4,965 20 Securities AFS Fair value 31,442 31,442 4,211 27,231 — LHFS Amortized cost 290 291 — 261 30 Fair value 1,178 1,178 — 1,178 — LHFI, net Amortized cost 150,061 148,167 — — 148,167 Fair value 163 163 — — 163 Other 1 Amortized cost 630 630 — — 630 Fair value 95 95 95 — — Financial liabilities: Consumer and other time deposits Amortized cost 15,355 15,106 — 15,106 — Brokered time deposits Amortized cost 642 615 — 615 — Fair value 403 403 — 403 — Short-term borrowings Amortized cost 8,772 8,772 — 8,772 — Long-term debt Amortized cost 14,783 14,729 — 13,024 1,705 Fair value 289 289 — 289 — Trading liabilities and derivative instruments Fair value 1,604 1,604 925 672 7 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. At September 30, 2019 and December 31, 2018 , the Company had $76.2 billion and $72.0 billion of unfunded commercial loan commitments and letters of credit, respectively, that are not included in the preceding tables. Since no active trading market exists for these instruments, a reasonable estimate of the instruments' fair value is the carrying value of deferred fees plus the related unfunded commitments reserve, which totaled $76 million and $72 million at September 30, 2019 and December 31, 2018 , respectively. The Company does not estimate the fair value of its unfunded consumer lending commitments, which can generally be canceled by providing notice to the borrower. |
Contingencies
Contingencies | 9 Months Ended |
Sep. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingencies | NOTE 18 – 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, 2019 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, 2019 . 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 15 , “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 decision was affirmed by the Georgia Court of Appeals on March 6, 2019. The Bank filed a petition with the Georgia Supreme Court on April 15, 2019, asking the court to review the decision. 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 purported 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 the action. On June 27, 2018, the District Court granted the plaintiffs' motion for class certification. On March 29, 2019, the District Court dismissed RidgeWorth Capital Management, Inc. from the lawsuit and on July 16, 2019, the District Court dismissed plaintiffs' claim for successor liability. On October 3, 2019, the District Court granted in part and denied in part defendants' motion for summary judgment on plaintiffs' remaining claims. The surviving claims have been placed on a civil trial calendar for early 2020. 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 , the 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 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. The defendants filed a motion to dismiss the claims on April 12, 2019. SunTrust and BB&T Merger Litigation Following the Merger announcement, six civil actions were filed challenging, among other things, the adequacy of the disclosures contained in the preliminary proxy statement/prospectus filed by BB&T with the SEC in connection with the proposed transaction. Five of these suits were filed by purported SunTrust stockholders against SunTrust and its Board and assert claims under Sections 14(a) and 20(a) of the Exchange Act challenging the adequacy of the public disclosures made concerning the proposed transaction. One of these five suits also asserts a claim against BB&T under Section 20(a). The sixth suit was filed by a purported BB&T stockholder against BB&T and its board of directors and asserts claims under state law challenging, among other things, the adequacy of the public disclosures made concerning the proposed transaction. Following discussions, SunTrust and BB&T reached agreement with plaintiffs to resolve these actions by making certain supplemental disclosures in the joint proxy statement/prospectus filed with the SEC in connection with the proposed transaction, which became definitive on June 19, 2019. To date, one of the suits filed by purported SunTrust stockholders has been dismissed with prejudice, and the suit filed by a purported BB&T stockholder has been discontinued with prejudice. Plaintiffs in the four remaining suits have similarly agreed to dismiss their actions in their entirety, with prejudice as to the named plaintiffs only and without prejudice to all other members of the putative class. |
Business Segment Reporting
Business Segment Reporting | 9 Months Ended |
Sep. 30, 2019 | |
Segment Reporting [Abstract] | |
Business Segment Reporting | NOTE 19 - 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. The following is a description of the segments and their primary businesses at September 30, 2019 . The Consumer segment is made up of three primary businesses: • Consumer Banking provides services to individual consumers 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 Solutions offers an array of lending products to individual consumers and business banking clients via the Company's Consumer Banking and PWM businesses, correspondent channels, the internet ( www.suntrust.com and www.lightstream.com ), telephone (1-800-SUNTRUST), as well as through various national offices and partnerships. Products offered include mortgages, home equity lines, personal credit lines and loans, direct auto, indirect auto, student lending, credit cards, and other lending products. Mortgage products are either sold in the secondary market, generally with servicing rights retained, or held in the Company’s LHFI portfolio. Consumer Lending Solutions also services mortgage loans for other investors in addition to loans held in the Company’s LHFI portfolio. • 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. 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. 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 on a regional delivery basis to privately held developers, operators, and investors in commercial real estate properties through its National Banking Division. 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. Real Estate Corporate and Investment Banking targets relationships with REIT s and homebuilders, both publicly-traded and privately owned. 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, enterprise risk, legal, enterprise information services, and executive management, among others. 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, 2019 (Dollars in millions) Consumer Wholesale Corporate Other Reconciling Consolidated Balance Sheets: Average LHFI $80,414 $77,107 $91 $— $157,612 Average consumer and commercial deposits 114,132 45,817 2,779 (195 ) 162,533 Average total assets 90,329 93,584 38,557 2,277 224,747 Average total liabilities 114,989 52,471 31,126 (65 ) 198,521 Average total equity — — — 26,226 26,226 Statements of Income: Net interest income $1,068 $529 ($79 ) ($8 ) $1,510 FTE adjustment — 21 — 1 22 Net interest income-FTE 1 1,068 550 (79 ) (7 ) 1,532 Provision for credit losses 2 77 56 — (1 ) 132 Net interest income after provision for credit losses-FTE 991 494 (79 ) (6 ) 1,400 Total noninterest income 479 368 34 (38 ) 843 Total noninterest expense 1,025 457 (5 ) (3 ) 1,474 Income before provision for income taxes-FTE 445 405 (40 ) (41 ) 769 Provision for income taxes-FTE 3 102 96 (10 ) (44 ) 144 Net income including income attributable to noncontrolling interest 343 309 (30 ) 3 625 Less: Net income attributable to noncontrolling interest — — 2 — 2 Net income $343 $309 ($32 ) $3 $623 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, 2018 (Dollars in millions) Consumer Wholesale Corporate Other Reconciling Consolidated Balance Sheets: Average LHFI $75,234 $70,669 $93 ($1 ) $145,995 Average consumer and commercial deposits 111,950 44,702 3,264 (568 ) 159,348 Average total assets 85,933 84,909 35,647 906 207,395 Average total liabilities 112,898 51,215 19,531 (524 ) 183,120 Average total equity — — — 24,275 24,275 Statements of Income: Net interest income $1,056 $539 ($46 ) ($37 ) $1,512 FTE adjustment — 22 1 (1 ) 22 Net interest income-FTE 1 1,056 561 (45 ) (38 ) 1,534 Provision for credit losses 2 36 24 — 1 61 Net interest income after provision for credit losses-FTE 1,020 537 (45 ) (39 ) 1,473 Total noninterest income 444 368 16 (46 ) 782 Total noninterest expense 991 432 (35 ) (4 ) 1,384 Income before provision for income taxes-FTE 473 473 6 (81 ) 871 Provision for income taxes-FTE 3 108 112 (51 ) (52 ) 117 Net income including income attributable to noncontrolling interest 365 361 57 (29 ) 754 Less: Net income attributable to noncontrolling interest — — 2 — 2 Net income $365 $361 $55 ($29 ) $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. Nine Months Ended September 30, 2019 (Dollars in millions) Consumer Wholesale Corporate Other Reconciling Consolidated Balance Sheets: Average LHFI $79,473 $76,481 $90 $— $156,044 Average consumer and commercial deposits 113,067 44,777 3,224 (289 ) 160,779 Average total assets 89,026 92,046 38,189 1,758 221,019 Average total liabilities 113,979 51,441 30,465 (173 ) 195,712 Average total equity — — — 25,307 25,307 Statements of Income: Net interest income $3,222 $1,607 ($222 ) ($18 ) $4,589 FTE adjustment — 65 1 — 66 Net interest income-FTE 1 3,222 1,672 (221 ) (18 ) 4,655 Provision for credit losses 2 204 208 — — 412 Net interest income after provision for credit losses-FTE 3,018 1,464 (221 ) (18 ) 4,243 Total noninterest income 1,415 1,137 230 (129 ) 2,653 Total noninterest expense 3,029 1,382 207 (16 ) 4,602 Income before provision for income taxes-FTE 1,404 1,219 (198 ) (131 ) 2,294 Provision for income taxes-FTE 3 321 289 (81 ) (133 ) 396 Net income including income attributable to noncontrolling interest 1,083 930 (117 ) 2 1,898 Less: Net income attributable to noncontrolling interest — — 7 — 7 Net income $1,083 $930 ($124 ) $2 $1,891 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, 2018 (Dollars in millions) Consumer Wholesale Corporate Other Reconciling Consolidated Balance Sheets: Average LHFI $74,907 $69,375 $89 ($3 ) $144,368 Average consumer and commercial deposits 111,008 45,247 3,234 (330 ) 159,159 Average total assets 84,909 83,193 35,585 1,683 205,370 Average total liabilities 111,909 51,375 18,065 (303 ) 181,046 Average total equity — — — 24,324 24,324 Statements of Income: Net interest income $3,087 $1,580 ($111 ) ($116 ) $4,440 FTE adjustment — 63 2 — 65 Net interest income-FTE 1 3,087 1,643 (109 ) (116 ) 4,505 Provision for credit losses 2 102 19 — — 121 Net interest income after provision for credit losses-FTE 2,985 1,624 (109 ) (116 ) 4,384 Total noninterest income 1,347 1,096 81 (116 ) 2,408 Total noninterest expense 2,984 1,307 (83 ) (17 ) 4,191 Income before provision for income taxes-FTE 1,348 1,413 55 (215 ) 2,601 Provision for income taxes-FTE 3 305 334 (23 ) (139 ) 477 Net income including income attributable to noncontrolling interest 1,043 1,079 78 (76 ) 2,124 Less: Net income attributable to noncontrolling interest — — 7 — 7 Net income $1,043 $1,079 $71 ($76 ) $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. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2019 | |
Accumulated Other Comprehensive Income | NOTE 20 - 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, 2019 Balance, beginning of period $437 ($148 ) $— ($1 ) ($689 ) ($401 ) Net unrealized gains arising during the period 169 47 — — — 216 Amounts reclassified to net income (3 ) 35 — — 4 36 Other comprehensive income, net of tax 166 82 — — 4 252 Balance, end of period $603 ($66 ) $— ($1 ) ($685 ) ($149 ) 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 ) Nine Months Ended September 30, 2019 Balance, beginning of period ($357 ) ($368 ) $1 ($1 ) ($695 ) ($1,420 ) Net unrealized gains/(losses) arising during the period 931 203 (1 ) — — 1,133 Amounts reclassified to net income 29 99 — — 10 138 Other comprehensive income/(loss), net of tax 960 302 (1 ) — 10 1,271 Balance, end of period $603 ($66 ) $— ($1 ) ($685 ) ($149 ) 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 ) 1 Related to the Company’s early adoption of ASU 2018-02 on January 1, 2018. See Note 1 , “Significant Accounting Policies,” to the Company's 2018 Annual Report on Form 10-K 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 2019 2018 2019 2018 Securities AFS: Net realized (gains)/losses on securities AFS ($4 ) $— $38 ($1 ) Net securities gains/(losses) Tax effect 1 — (9 ) — Provision for income taxes (3 ) — 29 (1 ) Derivative Instruments: Net realized losses on cash flow hedges 46 22 129 39 Interest and fees on loans held for investment Tax effect (11 ) (5 ) (30 ) (9 ) Provision for income taxes 35 17 99 30 Employee Benefit Plans: Amortization of prior service credit (1 ) (2 ) (4 ) (5 ) Employee benefits Amortization of actuarial loss 6 6 18 17 Employee benefits 5 4 14 12 Tax effect (1 ) (1 ) (4 ) (3 ) Provision for income taxes 4 3 10 9 Total reclassifications from AOCI to net income $36 $20 $138 $38 |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
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 nine months ended September 30, 2019 or not yet adopted as of September 30, 2019 , 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 2019 ASU 2016-02, Leases (Topic 842) and subsequent related ASUs These ASUs create and amend 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. These ASUs do 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 . Furthermore, there are several new qualitative and quantitative disclosures required for lessees and lessors, including updated guidance around the presentation of certain cash receipts on the Company’s Consolidated Statements of Cash Flows. January 1, 2019 The Company adopted these ASUs on January 1, 2019, using a modified retrospective transition approach as of the date of adoption, which resulted in the recognition of $1.2 billion and $1.3 billion in right-of-use assets and associated lease liabilities, respectively, arising from operating leases in which the Company is the lessee, on the Company's Consolidated Balance Sheets. The amount of the right-of-use assets and associated lease liabilities recorded upon adoption was based primarily on the present value of unpaid future minimum lease payments, the amount of which was based on the population of leases in effect at the date of adoption. At September 30, 2019, right-of-use assets and lease liabilities recorded on the Company’s Consolidated Balance Sheets totaled $1.1 billion and $1.2 billion, respectively. Standard Description Required Date of Adoption Effect on the Financial Statements or Other Significant Matters Standards Not Yet Adopted ASU 2016-13, Measurement of Credit Losses on Financial Instruments (Topic 326) and subsequent related ASUs These ASUs create and amend ASC Topic 326, Financial Instruments - Credit Losses , which replaces 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 formed a cross-functional team to oversee the implementation of these ASUs. A detailed implementation plan was developed and progress is substantially complete in regards to 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 forecasting process was implemented in the first half of 2019, resulting in modifications to the Company’s associated internal control environment that will be effective upon adoption of these ASUs. In the first half of 2019, the Company performed testing in which methodologies, processes, and internal controls were evaluated and refined. The Company performed a full parallel run of the new methodology in the third quarter of 2019 and will perform another full parallel run in the fourth quarter of 2019. The parallel runs include execution of internal controls, supporting analytics, reserve estimation, process and procedure documentation, and subject matter expert reviews. The Company continues to refine its processes and methodology based on the results of these exercises. 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 Based on the Company’s most recent qualitative goodwill impairment assessment performed in the third quarter of 2019, there were no reporting units for which it was more-likely-than-not that the carrying amount of a reporting unit exceeded its respective fair value; therefore, this ASU would not currently have an impact on the Company’s Consolidated Financial Statements or related disclosures. However, if subsequent to adoption, the carrying amount of a reporting unit exceeds its respective fair value, the Company would be required to recognize an impairment charge for the amount that the carrying value exceeds the fair value. 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 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. |
Schedule of Disaggregation of R
Schedule of Disaggregation of Revenue (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue [Table Text Block] | The following tables reflect the Company’s noninterest income disaggregated by financial statement line item, business segment, and by the amount of each revenue stream that is in scope and out of scope of ASC Topic 606, Revenue from Contracts with Customers . Refer to Note 1 , “Significant Accounting Policies,” and Note 2 , “Revenue Recognition,” to the Company's 2018 Annual Report on Form 10-K , for the Company's accounting policies for recognizing noninterest income, including the nature and timing of such revenue streams. The Company's contracts with customers generally do not contain terms that require significant judgment to determine the amount of revenue to recognize. Three Months Ended September 30, 2019 (Dollars in millions) Consumer 1 Wholesale 1 Out of Scope 1, 2 Total Noninterest income Service charges on deposit accounts $112 $29 $— $141 Other charges and fees 3 27 4 59 90 Card fees 57 24 2 83 Investment banking income — 97 62 159 Trading income — — 29 29 Mortgage-related income — — 106 106 Trust and investment management income 77 — 1 78 Retail investment services 4 76 — — 76 Insurance settlement — — 5 5 Commercial real estate-related income — — 32 32 Net securities gains/(losses) — — 4 4 Other noninterest income 6 — 34 40 Total noninterest income $355 $154 $334 $843 1 Consumer total noninterest income and Wholesale total noninterest income exclude $124 million and $214 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 19 , "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($4) million of Corporate Other noninterest income that is not subject to ASC Topic 606. 2 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. 3 The Company recognized an immaterial amount of insurance trailing commissions, the majority of which related to performance obligations satisfied in prior periods. 4 The Company recognized $12 million of mutual fund 12b-1 fees and annuity trailing commissions, the majority of which related to performance obligations satisfied in prior periods. Three Months Ended September 30, 2018 (Dollars in millions) Consumer 1 Wholesale 1 Out of Scope 1, 2 Total Noninterest income Service charges on deposit accounts $111 $33 $— $144 Other charges and fees 3 28 3 58 89 Card fees 49 26 — 75 Investment banking income — 101 49 150 Trading income — — 42 42 Mortgage-related income — — 83 83 Trust and investment management income 79 — 1 80 Retail investment services 4 73 — 1 74 Insurance settlement — — — — Commercial real estate-related income — — 24 24 Net securities gains/(losses) — — — — Other noninterest income 5 — 16 21 Total noninterest income $345 $163 $274 $782 1 Consumer total noninterest income and Wholesale total noninterest income exclude $99 million and $205 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 19 , "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($30) million of Corporate Other noninterest income that is not subject to ASC Topic 606. 2 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. 3 The Company recognized an immaterial amount of insurance trailing commissions, the majority of which related to performance obligations satisfied in prior periods. 4 The Company recognized $12 million of mutual fund 12b-1 fees and annuity trailing commissions, the majority of which related to performance obligations satisfied in prior periods. Nine Months Ended September 30, 2019 (Dollars in millions) Consumer 1 Wholesale 1 Out of Scope 1, 2 Total Noninterest income Service charges on deposit accounts $324 $93 $— $417 Other charges and fees 3 82 12 171 265 Card fees 168 75 4 247 Investment banking income — 261 170 431 Trading income — — 144 144 Mortgage-related income — — 294 294 Trust and investment management income 220 — 2 222 Retail investment services 4 218 1 1 220 Insurance settlement — — 210 210 Commercial real estate-related income — — 106 106 Net securities gains/(losses) — — (38 ) (38 ) Other noninterest income 17 — 118 135 Total noninterest income $1,029 $442 $1,182 $2,653 1 Consumer total noninterest income and Wholesale total noninterest income exclude $386 million and $695 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 19 , "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes $101 million of Corporate Other noninterest income that is not subject to ASC Topic 606. 2 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. 3 The Company recognized an immaterial amount of insurance trailing commissions, the majority of which related to performance obligations satisfied in prior periods. 4 The Company recognized $31 million of mutual fund 12b-1 fees and annuity trailing commissions, the majority of which related to performance obligations satisfied in prior periods. Nine Months Ended September 30, 2018 (Dollars in millions) Consumer 1 Wholesale 1 Out of Scope 1, 2 Total Noninterest income Service charges on deposit accounts $330 $103 $— $433 Other charges and fees 3 85 8 171 264 Card fees 160 78 3 241 Investment banking income — 287 166 453 Trading income — — 137 137 Mortgage-related income — — 256 256 Trust and investment management income 228 — 2 230 Retail investment services 4 216 2 1 219 Insurance settlement — — — — Commercial real estate-related income — — 66 66 Net securities gains/(losses) — — 1 1 Other noninterest income 17 — 91 108 Total noninterest income $1,036 $478 $894 $2,408 1 Consumer total noninterest income and Wholesale total noninterest income exclude $311 million and $618 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 19 , "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($35) million of Corporate Other noninterest income that is not subject to ASC Topic 606. 2 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. 3 The Company recognized an immaterial amount of insurance trailing commissions, the majority of which related to performance obligations satisfied in prior periods. 4 The Company recognized $38 million |
Federal Funds Sold and Securi_2
Federal Funds Sold and Securities Financing Activities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
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, 2019 December 31, 2018 Fed funds sold $5 $42 Securities borrowed 491 394 Securities purchased under agreements to resell 818 1,243 Total Fed funds sold and securities borrowed or purchased under agreements to resell $1,314 $1,679 |
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, 2019 December 31, 2018 (Dollars in millions) Overnight and Continuous Up to 30 days Total Overnight and Continuous Up to 30 days 30-90 days Total U.S. Treasury securities $89 $— $89 $197 $7 $— $204 Federal agency securities 95 9 104 112 10 — 122 MBS - agency residential 1,031 143 1,174 881 35 — 916 CP 74 — 74 78 — — 78 Corporate and other debt securities 196 192 388 216 158 80 454 Total securities sold under agreements to repurchase $1,485 $344 $1,829 $1,484 $210 $80 $1,774 |
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, 2019 and December 31, 2018 , 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, 2019 Financial assets: Securities borrowed or purchased under agreements to resell $1,309 $— $1,309 1 $1,293 $16 Financial liabilities: Securities sold under agreements to repurchase 1,829 — 1,829 1,829 — December 31, 2018 Financial assets: Securities borrowed or purchased under agreements to resell $1,637 $— $1,637 1 $1,624 $13 Financial liabilities: Securities sold under agreements to repurchase 1,774 — 1,774 1,774 — 1 Excludes $5 million and $42 million of Fed Funds sold that are not subject to a master netting agreement at September 30, 2019 and December 31, 2018 , respectively. |
Trading Assets and Liabilitie_2
Trading Assets and Liabilities and Derivatives Trading Assets and Liabilities and Derivatives (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
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, 2019 December 31, 2018 Trading Assets and Derivative Instruments: U.S. Treasury securities $212 $262 Federal agency securities 319 188 U.S. states and political subdivisions 43 54 MBS - agency residential 1,004 860 MBS - agency commercial 51 — ABS 7 — Corporate and other debt securities 628 700 CP 122 190 Equity securities 86 73 Derivative instruments 1 1,770 639 Trading loans 2 2,862 2,540 Total trading assets and derivative instruments $7,104 $5,506 Trading Liabilities and Derivative Instruments: U.S. Treasury securities $538 $801 MBS - agency — 3 Corporate and other debt securities 539 385 Equity securities 20 5 Derivative instruments 1 274 410 Trading loans 9 — Total trading liabilities and derivative instruments $1,380 $1,604 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, 2019 December 31, 2018 Pledged trading assets to secure repurchase agreements 1 $1,226 $1,418 Pledged trading assets to secure certain derivative agreements 62 22 Pledged trading assets to secure other arrangements 40 40 1 Repurchase agreements secured by collateral totaled $1.2 billion and $1.4 billion at September 30, 2019 and December 31, 2018 , respectively. |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Composition of Loan Portfolio | (Dollars in millions) September 30, 2019 December 31, 2018 Commercial loans: C&I 1 $73,374 $71,137 CRE 9,491 7,265 Commercial construction 2,142 2,538 Total commercial LHFI 85,007 80,940 Consumer loans: Residential mortgages - guaranteed 457 459 Residential mortgages - nonguaranteed 2 28,810 28,836 Residential home equity products 8,696 9,468 Residential construction 144 184 Guaranteed student 7,146 7,229 Other direct 12,431 10,615 Indirect 14,060 12,419 Credit cards 1,704 1,689 Total consumer LHFI 73,448 70,899 LHFI $158,455 $151,839 LHFS 3 $2,006 $1,468 1 Includes $4.0 billion and $4.1 billion of sales-type, direct financing, and leveraged leases at September 30, 2019 and December 31, 2018 , respectively. Includes $817 million and $796 million of installment loans at September 30, 2019 and December 31, 2018 , respectively. 2 Includes $124 million and $163 million measured at fair value at September 30, 2019 and December 31, 2018 , respectively. 3 Includes $1.5 billion and $1.2 billion measured at fair value at September 30, 2019 and December 31, 2018 , respectively. |
Loan Purchases, sales, and transfers [Table Text Block] | LHFI Purchases, Sales, and Transfers Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2019 2018 2019 2018 Non-routine LHFI purchases 1, 2 : Consumer loans $160 $101 $418 $101 Routine LHFI purchases 2, 3 : Consumer loans 517 545 1,433 1,568 LHFI sales 4, 5 : Commercial loans 171 14 387 87 Consumer loans — — 432 100 Transfers from: LHFI to LHFS 812 449 LHFS to LHFI 17 23 LHFI to OREO 33 44 1 Purchases are episodic in nature and are conducted based on specific business strategies. 2 Represents UPB of loans purchased. 3 Purchases are routine in nature and are conducted in the normal course of business. 4 Excludes sales of loans originated for sale and loans recorded at fair value conducted in the normal course of business. 5 The net gain on LHFI sales was $47 million for the nine months ended September 30, 2019 , and was immaterial for the three months ended September 30, 2019 as well as the three and nine months ended September 30, 2018 . |
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, 2019 December 31, 2018 September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 Risk rating: Pass $70,739 $69,095 $9,410 $7,165 $2,082 $2,459 Criticized accruing 2,285 1,885 80 98 60 79 Criticized nonaccruing 350 157 1 2 — — Total $73,374 $71,137 $9,491 $7,265 $2,142 $2,538 Consumer Loans 1 Residential Mortgages - Nonguaranteed Residential Home Equity Products Residential Construction (Dollars in millions) September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 Current FICO score range: 700 and above $25,985 $25,764 $7,406 $8,060 $116 $151 620 - 699 2,219 2,367 929 1,015 22 27 Below 620 2 606 705 361 393 6 6 Total $28,810 $28,836 $8,696 $9,468 $144 $184 Other Direct Indirect Credit Cards (Dollars in millions) September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 Current FICO score range: 700 and above $10,671 $9,296 $10,904 $9,315 $1,145 $1,142 620 - 699 1,543 1,175 2,367 2,395 423 420 Below 620 2 217 144 789 709 136 127 Total $12,431 $10,615 $14,060 $12,419 $1,704 $1,689 1 Excludes $7.1 billion and $7.2 billion of guaranteed student loans and $457 million and $459 million of guaranteed residential mortgages at September 30, 2019 and December 31, 2018 , 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, 2019 Accruing (Dollars in millions) Current 30-89 Days Past Due 90+ Days Past Due Nonaccruing 1 Total Commercial loans: C&I $72,955 $55 $14 $350 $73,374 CRE 9,486 3 1 1 9,491 Commercial construction 2,142 — — — 2,142 Total commercial LHFI 84,583 58 15 351 85,007 Consumer loans: Residential mortgages - guaranteed 131 25 301 — 3 457 Residential mortgages - nonguaranteed 2 28,620 55 10 125 28,810 Residential home equity products 8,534 61 1 100 8,696 Residential construction 135 1 — 8 144 Guaranteed student 5,563 543 1,040 — 3 7,146 Other direct 12,362 53 5 11 12,431 Indirect 13,951 103 1 5 14,060 Credit cards 1,666 18 20 — 1,704 Total consumer LHFI 70,962 859 1,378 249 73,448 Total LHFI $155,545 $917 $1,393 $600 $158,455 1 Includes nonaccruing LHFI past due 90 days or more of $306 million . Nonaccruing LHFI past due fewer than 90 days include nonaccrual LHFI modified in TDRs, performing second lien LHFI where the first lien loan is nonperforming, and certain energy-related commercial LHFI. 2 I ncludes $124 million of LHFI measured at fair value, the majority of which were accruing current. 3 Guaranteed LHFI are not placed on nonaccrual status regardless of delinquency because collection of principal and interest is reasonably assured by the government. December 31, 2018 Accruing (Dollars in millions) Current 30-89 Days Past Due 90+ Days Past Due Nonaccruing 1 Total Commercial loans: C&I $70,901 $64 $15 $157 $71,137 CRE 7,259 3 1 2 7,265 Commercial construction 2,538 — — — 2,538 Total commercial LHFI 80,698 67 16 159 80,940 Consumer loans: Residential mortgages - guaranteed 125 39 295 — 3 459 Residential mortgages - nonguaranteed 2 28,552 70 10 204 28,836 Residential home equity products 9,268 62 — 138 9,468 Residential construction 170 3 — 11 184 Guaranteed student 5,236 685 1,308 — 3 7,229 Other direct 10,559 45 4 7 10,615 Indirect 12,286 125 1 7 12,419 Credit cards 1,654 17 18 — 1,689 Total consumer LHFI 67,850 1,046 1,636 367 70,899 Total LHFI $148,548 $1,113 $1,652 $526 $151,839 1 Includes nonaccruing LHFI past due 90 days or more of $306 million . Nonaccruing LHFI past due fewer than 90 days include nonaccrual LHFI modified in TDRs, performing second lien LHFI where the first lien loan is nonperforming, and certain energy-related commercial LHFI. 2 Includes $163 million of LHFI measured at fair value, the majority of which were accruing current. 3 Guaranteed LHFI are not placed on nonaccrual status regardless of delinquency because collection of principal and interest is reasonably assured by the government. |
LHFI Considered Impaired | September 30, 2019 December 31, 2018 (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 $48 $39 $— $132 $79 $— CRE — — — 10 — — Total commercial LHFI with no ALLL recorded 48 39 — 142 79 — Consumer loans: Residential mortgages - nonguaranteed 354 283 — 501 397 — Residential construction 7 4 — 12 7 — Total consumer LHFI with no ALLL recorded 361 287 — 513 404 — Impaired LHFI with an ALLL recorded: Commercial loans: C&I 311 300 71 81 70 13 Total commercial LHFI with an ALLL recorded 311 300 71 81 70 13 Consumer loans: Residential mortgages - nonguaranteed 561 561 54 1,006 984 96 Residential home equity products 753 721 41 849 799 44 Residential construction 70 68 5 79 76 6 Other direct 57 57 1 57 57 1 Indirect 136 135 4 133 133 5 Credit cards 12 12 3 30 9 2 Total consumer LHFI with an ALLL recorded 1,589 1,554 108 2,154 2,058 154 Total impaired LHFI $2,309 $2,180 $179 $2,890 $2,611 $167 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, 2019 and December 31, 2018 were $1.8 billion and $2.3 billion , respectively, of accruing TDRs held for investment, of which 97% were current. This reduction was driven by our sale of $465 million of accruing TDRs in the second quarter of 2019 for a net gain on sale of $44 million . See Note 1 , “Significant Accounting Policies,” to the Company's 2018 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 2019 2018 2019 2018 (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 $40 $— $44 $— $41 $— $45 $1 CRE — — 20 — — — 20 — Total commercial LHFI with no ALLL recorded 40 — 64 — 41 — 65 1 Consumer loans: Residential mortgages - nonguaranteed 284 4 381 4 287 12 386 11 Residential construction 4 — 7 — 4 — 7 — Total consumer LHFI with no ALLL recorded 288 4 388 4 291 12 393 11 Impaired LHFI with an ALLL recorded: Commercial loans: C&I 303 2 177 — 305 8 176 3 CRE — — 21 — — — 22 — Total commercial LHFI with an ALLL recorded 303 2 198 — 305 8 198 3 Consumer loans: Residential mortgages - nonguaranteed 562 8 1,027 13 565 28 1,031 39 Residential home equity products 723 8 824 9 732 25 833 27 Residential construction 68 1 80 1 69 3 82 4 Other direct 58 1 57 1 58 3 58 3 Indirect 139 2 134 2 147 5 141 5 Credit cards 12 — 8 — 11 1 8 1 Total consumer LHFI with an ALLL recorded 1,562 20 2,130 26 1,582 65 2,153 79 Total impaired LHFI $2,193 $26 $2,780 $30 $2,219 $85 $2,809 $94 1 Of the interest income recognized during the three and nine months ended September 30, 2019 , cash basis interest income was immaterial and $9 million , respectively. Of the interest income recognized during the three and nine months ended September 30, 2018 , cash basis interest income was immaterial. |
Nonperforming Assets | NPAs are presented in the following table: (Dollars in millions) September 30, 2019 December 31, 2018 NPAs: Commercial NPLs: C&I $350 $157 CRE 1 2 Consumer NPLs: Residential mortgages - nonguaranteed 125 204 Residential home equity products 100 138 Residential construction 8 11 Other direct 11 7 Indirect 5 7 Total nonaccrual LHFI/NPLs 1 600 526 OREO 2 52 54 Other repossessed assets 8 9 Nonperforming LHFS 1 — Total NPAs $661 $589 1 Nonaccruing restructured LHFI are included in total nonaccrual LHFI /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 $43 million and $50 million at September 30, 2019 and December 31, 2018 , respectively. |
TDR Modifications | Three Months Ended September 30, 2019 1 (Dollars in millions) Number of Loans Modified Rate Modification Term Extension and/or Other Concessions Total Commercial loans: C&I 32 $— $12 $12 Consumer loans: Residential mortgages - nonguaranteed 30 2 2 4 Residential home equity products 54 — 3 3 Other direct 234 — 3 3 Indirect 634 — 16 16 Credit cards 537 3 — 3 Total TDR additions 1,521 $5 $36 $41 1 Includes loans modified under the terms of a TDR that were charged-off during the period. Nine Months Ended September 30, 2019 1 (Dollars in millions) Number of Loans Modified Rate Modification Term Extension and/or Other Concessions Total Commercial loans: C&I 88 $1 $17 $18 Consumer loans: Residential mortgages - nonguaranteed 88 4 7 11 Residential home equity products 215 2 13 15 Other direct 642 — 10 10 Indirect 1,755 — 42 42 Credit cards 1,531 7 — 7 Total TDR additions 4,319 $14 $89 $103 1 Includes loans modified under the terms of a TDR that were charged-off during the period. 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. |
Securities Available for Sale (
Securities Available for Sale (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities Portfolio Composition | Investment Securities Portfolio Composition September 30, 2019 (Dollars in millions) Amortized Unrealized Unrealized Fair Securities AFS: U.S. Treasury securities $3,915 $103 $— $4,018 Federal agency securities 123 1 — 124 U.S. states and political subdivisions 564 9 1 572 MBS - agency residential 22,069 520 4 22,585 MBS - agency commercial 2,881 103 1 2,983 MBS - non-agency commercial 1,008 56 — 1,064 Corporate and other debt securities 12 — — 12 Total securities AFS $30,572 $792 $6 $31,358 December 31, 2018 (Dollars in millions) Amortized Unrealized Unrealized Fair Securities AFS: U.S. Treasury securities $4,277 $— $66 $4,211 Federal agency securities 221 2 2 221 U.S. states and political subdivisions 606 4 21 589 MBS - agency residential 23,161 128 425 22,864 MBS - agency commercial 2,688 8 69 2,627 MBS - non-agency commercial 943 — 27 916 Corporate and other debt securities 14 — — 14 Total securities AFS $31,910 $142 $610 $31,442 |
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) 2019 2018 2019 2018 Taxable interest $211 $207 $646 $614 Tax-exempt interest 4 5 13 14 Total interest on securities AFS $215 $212 $659 $628 |
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, 2019 , 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 $632 $2,331 $952 $— $3,915 Federal agency securities 50 10 6 57 123 U.S. states and political subdivisions — 90 317 157 564 MBS - agency residential 1,435 9,389 10,890 355 22,069 MBS - agency commercial — 835 1,683 363 2,881 MBS - non-agency commercial — 12 996 — 1,008 Corporate and other debt securities — 12 — — 12 Total securities AFS $2,117 $12,679 $14,844 $932 $30,572 Fair Value: Securities AFS: U.S. Treasury securities $634 $2,389 $995 $— $4,018 Federal agency securities 50 10 6 58 124 U.S. states and political subdivisions — 95 320 157 572 MBS - agency residential 1,485 9,630 11,108 362 22,585 MBS - agency commercial — 851 1,752 380 2,983 MBS - non-agency commercial — 12 1,052 — 1,064 Corporate and other debt securities — 12 — — 12 Total securities AFS $2,169 $12,999 $15,233 $957 $31,358 Weighted average yield 1 3.09 % 2.81 % 2.93 % 3.02 % 2.89 % 1 Weighted average yields are based on amortized cost and presented on an FTE basis. |
Securities in a Continuous Unrealized Loss Position | Investment securities in an unrealized loss position at period end are presented in the following tables: September 30, 2019 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 $50 $— $— $— $50 $— Federal agency securities 20 — — — 20 — U.S. states and political subdivisions 119 1 — — 119 1 MBS - agency residential 1,089 4 — — 1,089 4 MBS - agency commercial 207 1 — — 207 1 Corporate and other debt securities — — 6 — 6 — Total temporarily impaired securities AFS 1,485 6 6 — 1,491 6 OTTI securities AFS 2 : Total OTTI securities AFS — — — — — — Total impaired securities AFS $1,485 $6 $6 $— $1,491 $6 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, 2018 Less than twelve months Twelve months or longer Total (Dollars in millions) Fair Value Unrealized 1 Losses Fair Value Unrealized 1 Losses Fair Value Unrealized 1 Losses Temporarily impaired securities AFS: U.S. Treasury securities $— $— $4,177 $66 $4,177 $66 Federal agency securities — — 63 2 63 2 U.S. states and political subdivisions 49 1 430 20 479 21 MBS - agency residential 1,229 5 15,384 420 16,613 425 MBS - agency commercial 68 — 1,986 69 2,054 69 MBS - non-agency commercial 106 1 773 26 879 27 Corporate and other debt securities — — 9 — 9 — Total temporarily impaired securities AFS 1,452 7 22,822 603 24,274 610 OTTI securities AFS 2 : Total OTTI securities AFS — — — — — — Total impaired securities AFS $1,452 $7 $22,822 $603 $24,274 $610 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. |
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. During the nine months ended September 30, 2019 , the Company recognized $38 million in net securities losses, driven by the Company's second quarter of 2019 repositioning of a portion of the securities AFS portfolio, which resulted in $42 million of gross realized losses. This repositioning in the second quarter of 2019 was not due to any requirement to sell the securities before their anticipated recovery or maturity. Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2019 2018 2019 2018 Gross realized gains $4 $— $4 $7 Gross realized losses — — (42 ) (6 ) OTTI credit losses recognized in earnings — — — — Net securities gains/(losses) $4 $— ($38 ) $1 |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
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 LHFI segment is presented in the following tables: Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 (Dollars in millions) Commercial Consumer Total Commercial Consumer Total ALLL, beginning of period $1,202 $479 $1,681 $1,080 $535 $1,615 Provision for loan losses 42 88 130 208 201 409 Loan charge-offs (35 ) (104 ) (139 ) (88 ) (289 ) (377 ) Loan recoveries 5 22 27 14 69 83 Other 1 — — — — (31 ) (31 ) ALLL, end of period 1,214 485 1,699 1,214 485 1,699 Unfunded commitments reserve, beginning of period 2 70 — 70 69 — 69 Provision for unfunded commitments 2 — 2 3 — 3 Unfunded commitments reserve, end of period 2 72 — 72 72 — 72 Allowance for credit losses, end of period $1,286 $485 $1,771 $1,286 $485 $1,771 1 Represents the allowance for restructured loans that were transferred from LHFI to LHFS in the first quarter of 2019 and subsequently sold in the second quarter of 2019. 2 The unfunded commitments reserve is recorded in Other liabilities in the Consolidated Balance Sheets. 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)/provision 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. |
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, 2019 Commercial Loans Consumer Loans Total (Dollars in millions) Carrying Value Related ALLL Carrying Value Related Carrying Value Related LHFI evaluated for impairment: Individually evaluated $339 $71 $1,841 $108 $2,180 $179 Collectively evaluated 84,668 1,143 71,483 377 156,151 1,520 Total evaluated 85,007 1,214 73,324 485 158,331 1,699 LHFI measured at fair value — — 124 — 124 — Total LHFI $85,007 $1,214 $73,448 $485 $158,455 $1,699 December 31, 2018 Commercial Loans Consumer Loans Total (Dollars in millions) Carrying Related ALLL Carrying Related Carrying Related LHFI evaluated for impairment: Individually evaluated $149 $13 $2,462 $154 $2,611 $167 Collectively evaluated 80,791 1,067 68,274 381 149,065 1,448 Total evaluated 80,940 1,080 70,736 535 151,676 1,615 LHFI measured at fair value — — 163 — 163 — Total LHFI $80,940 $1,080 $70,899 $535 $151,839 $1,615 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill [Table Text Block] | Changes in the carrying amount of goodwill by reportable segment for the nine months ended September 30, 2018 are presented in the following table. (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 MSRs - Amortized Cost Other Total Balance, January 1, 2019 $1,983 $66 $13 $2,062 Amortization 1 — (8 ) (1 ) (9 ) Servicing rights originated 237 14 — 251 Changes in fair value: Due to changes in inputs and assumptions 2 (439 ) — — (439 ) Other changes in fair value 3 (215 ) — — (215 ) Servicing rights sold (2 ) — — (2 ) Balance, September 30, 2019 $1,564 $72 $12 $1,648 Balance, January 1, 2018 $1,710 $65 $16 $1,791 Amortization 1 — (11 ) (2 ) (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 $64 $14 $2,140 1 Does not include expense associated with community development investments. See Note 11 , “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. |
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, 2019 December 31, 2018 (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 MSRs $109 ($37 ) $72 $95 ($29 ) $66 Other 6 (6 ) — 6 (5 ) 1 Unamortized other intangible assets: Residential MSRs 1,564 — 1,564 1,983 — 1,983 Other 12 — 12 12 — 12 Total other intangible assets $1,691 ($43 ) $1,648 $2,096 ($34 ) $2,062 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) 2019 2018 2019 2018 Income from residential MSRs 1 $110 $108 $331 $322 1 Recognized in Mortgage-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, 2019 December 31, 2018 UPB of loans underlying residential MSRs $135,029 $140,801 |
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, 2019 December 31, 2018 Fair value of residential MSRs $1,564 $1,983 Prepayment rate assumption (annual) 15 % 13 % Decline in fair value from 10% adverse change $95 $96 Decline in fair value from 20% adverse change 180 183 Option adjusted spread (annual) 3 % 2 % Decline in fair value from 10% adverse change $28 $44 Decline in fair value from 20% adverse change 56 86 Weighted-average life (in years) 4.4 5.5 Weighted-average coupon 4.0 % 4.0 % |
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) 2019 2018 2019 2018 Income from commercial MSRs 1 $6 $5 $19 $20 Income from subservicing third party commercial mortgages 1 5 3 13 9 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, 2019 December 31, 2018 UPB of commercial mortgages subserviced for third parties $32,725 $28,140 UPB of loans underlying commercial MSRs 7,391 6,399 Total UPB of commercial mortgages serviced for third parties $40,116 $34,539 |
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 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, 2019 December 31, 2018 Fair value of commercial MSRs $80 $77 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) 7 % 5 % 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) 8.6 8.1 Float earnings rate (annual) 1.1 % 1.1 % |
Other Assets (Tables)
Other Assets (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Other Assets [Abstract] | |
Schedule of Other Assets [Table Text Block] | The components of other assets are presented in the following table: (Dollars in millions) September 30, 2019 December 31, 2018 Equity securities 1 : Marketable equity securities: Mutual fund investments $66 $79 Other equity 10 16 Nonmarketable equity securities: Federal Reserve Bank stock 403 403 FHLB stock 334 227 Other equity 84 68 Tax credit investments 2 1,998 1,722 Bank-owned life insurance 1,652 1,627 Lease assets: Operating lease right-of-use assets 3 1,110 — Underlying lessor assets subject to operating leases, net 3 1,090 1,205 Build-to-suit lease assets 993 735 Accrued income 1,106 1,106 Accounts receivable 825 602 Pension assets, net 499 484 Prepaid expenses 285 231 OREO 52 54 Other 489 432 Total other assets $10,996 $8,991 1 Does not include equity securities held for trading purposes classified as Trading assets and derivative instruments or Trading liabilities and derivative instruments on the Company’s Consolidated Balance Sheets. See Note 4 , “Trading Assets and Liabilities and Derivative Instruments,” for more information. 2 See Note 11 , “Certain Transfers of Financial Assets and Variable Interest Entities,” for additional information. 3 See Note 10 , “Leases,” for additional information. |
Schedule of Gains/(Losses) from Equity Securities [Table Text Block] | The following table summarizes net gains/(losses) on equity securities not classified as trading assets: Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2019 2018 2019 2018 Net (losses)/gains on marketable equity securities 1 ($6 ) ($4 ) ($3 ) $10 Net gains/(losses) on nonmarketable equity securities: Remeasurement losses and impairment — — — — Remeasurement gains 1 16 7 16 30 Less: Net realized gains on sale — — — — Total net unrealized gains on non-trading equity securities $10 $3 $13 $40 1 Recognized in Other noninterest income in the Company’s Consolidated Statements of Income. |
Leases (Tables)
Leases (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Leases [Abstract] | |
Classification of Right of Use Assets [Table Text Block] | The Company's right-of-use assets, lease liabilities, and associated balance sheet classifications are presented in the following table: (Dollars in millions) Classification September 30, 2019 Assets: Operating lease right-of-use assets Other assets $1,110 Finance lease right-of-use assets Premises, property, and equipment, net 24 Total right-of-use assets $1,134 Liabilities: Operating leases Other liabilities $1,189 Finance leases Long-term debt 26 Total lease liabilities $1,215 |
Lease, Cost [Table Text Block] | The components of total lease cost and other supplemental lease information are presented in the following tables: (Dollars in millions) Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Components of total lease cost: Operating lease cost $49 $152 Finance lease cost: Amortization of right-of-use assets 1 3 Variable lease cost 10 27 Less: Sublease income (1 ) (4 ) Total lease cost, net $59 $178 |
Lease, Supplemental Information Disclosures [Table Text Block] | (Dollars in millions) Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Supplemental lease information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $47 $144 Operating cash flows from finance leases 1 1 Financing cash flows from finance leases 3 5 Lease liabilities arising from obtaining right-of-use assets (subsequent to adoption): Operating leases 7 30 Finance leases — 11 |
Lessee, Lease, Description [Table Text Block] | Weighted average remaining lease terms and discount rates are presented in the following table: (Dollars in millions) September 30, 2019 Weighted-average remaining lease term (in years): Operating leases 8.0 Finance leases 7.0 Weighted-average discount rate (annual): Operating leases 3.3 % Finance leases 6.6 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | The following table presents a maturity analysis of the Company's operating and finance lease liabilities at September 30, 2019 : (Dollars in millions) Operating Leases Finance Leases Total Year 1 $185 $5 $190 Year 2 194 5 199 Year 3 179 5 184 Year 4 158 5 163 Year 5 140 3 143 Thereafter 518 11 529 Total lease payments 1,374 34 1,408 Less: Imputed interest (185 ) (8 ) (193 ) Present value of lease liabilities $1,189 $26 $1,215 |
Lessor, Income [Table Text Block] | The components of total lease income are presented in the following table: (Dollars in millions) Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Interest income from sales-type and direct financing leases $37 $111 Lease income relating to operating leases 52 157 Lease income relating to variable lease payments not included in the measurement of the lease receivable 1 3 Total lease income $90 $271 |
Lessor, Net investment in Lease [Table Text Block] | Components of the Company's net investment in sales-type and direct financing leases are presented in the following table: (Dollars in millions) September 30, 2019 Carrying amount of lease receivables $3,657 Unguaranteed residual assets 149 Net investment in sales-type and direct financing lease assets 1 $3,806 |
Lessor, Lease Maturity [Table Text Block] | The following table presents a maturity analysis of the Company's sales-type and direct financing lease receivables at September 30, 2019 : (Dollars in millions) Sales-Type and Direct Financing Leases Year 1 $876 Year 2 746 Year 3 585 Year 4 411 Year 5 328 Thereafter 1,256 Total lease receivables 4,202 Less: Reconciling items 1 (545 ) Present value of lease receivables $3,657 |
Lessor, Operating Lease, Payments to be Received, Maturity [Table Text Block] | The following table presents a maturity analysis of the Company's operating lease payments to be received as of September 30, 2019 : (Dollars in millions) Operating Leases Year 1 $191 Year 2 155 Year 3 127 Year 4 95 Year 5 94 Thereafter 225 Total lease payments to be received $887 |
Schedule of Property Subject to or Available for Operating Lease [Table Text Block] | Underlying lessor assets subject to operating leases at September 30, 2019 consisted of the following: (Dollars in millions) Useful life (in years) September 30, 2019 Underlying lessor assets subject to operating leases: 1 Real estate 2 15 - 20 $116 Equipment 2 - 30 1,539 Total underlying lessor assets subject to operating leases 1,655 Less: Accumulated depreciation (565 ) Underlying lessor assets subject to operating leases, net 3 $1,090 |
Certain Transfers of Financia_2
Certain Transfers of Financial Assets and Variable Interest Entities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
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) 2019 2018 2019 2018 2019 2018 2019 2018 Qualified affordable housing partnerships $33 $28 $98 $87 $35 $29 $103 $92 Other community development investments 25 23 64 62 21 19 53 49 |
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, 2019 and December 31, 2018 , as well as the related net charge-offs for the three and nine months ended September 30, 2019 and 2018 . Portfolio Balance Past Due and Nonaccrual Net Charge-offs September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2019 2018 2019 2018 LHFI portfolio: Commercial $85,007 $80,940 $366 $175 $30 $42 $74 $76 Consumer 73,448 70,899 1,627 2,003 82 46 220 164 Total LHFI portfolio 158,455 151,839 1,993 2,178 112 88 294 240 Managed securitized loans: Commercial 1 7,391 6,399 7 — — — — — Consumer 134,515 139,809 114 146 — 2 1 2 1 2 5 2 Total managed securitized loans 141,906 146,208 121 146 — 1 1 5 Managed unsecuritized loans 3 514 1,134 61 152 — — — — Total managed loans $300,875 $299,181 $2,175 $2,476 $112 $89 $295 $245 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 $212 million and $387 million of managed securitized loans at September 30, 2019 and December 31, 2018 , respectively. Net charge-off data is not reported to the Company for the remaining balance of $134.3 billion and $139.4 billion of managed securitized loans at September 30, 2019 and December 31, 2018 , 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 presents 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, 2019 December 31, 2018 September 30, 2019 December 31, 2018 Carrying value of investments 1 $1,943 $1,636 $55 $86 Maximum exposure to loss related to investments 2 2,379 2,207 241 138 1 At September 30, 2019 and December 31, 2018 , the carrying value of community development investments excludes $67 million and $68 million of investments in funds that do not qualify for tax credits, respectively. 2 At September 30, 2019 and December 31, 2018 , the Company's maximum exposure to loss related to community development investments includes $470 million and $422 million of loans and $593 million and $639 million of unfunded equity commitments, respectively. At September 30, 2019 and December 31, 2018 , the Company's maximum exposure to loss related to renewable energy partnerships includes $186 million and $52 million of unfunded equity commitments, respectively. |
Net Income Per Common Share (Ta
Net Income Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Earnings Per Share [Abstract] | |
Reconciliation of Net Income/(Loss) to Net Income/(Loss) Available to Common Shareholders | 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. Three Months Ended September 30 Nine Months Ended September 30 (Dollars and shares in millions, except per share data) 2019 2018 2019 2018 Net income $623 $752 $1,891 $2,117 Less: Preferred stock dividends (26 ) (26 ) (77 ) (81 ) Net income available to common shareholders $597 $726 $1,814 $2,036 Average common shares outstanding - basic 444.0 460.3 443.8 464.8 Add dilutive securities: RSUs 2.6 3.0 2.4 2.8 Common stock warrants, options, and restricted stock 0.4 0.9 0.5 1.4 Average common shares outstanding - diluted 447.0 464.2 446.7 469.0 Net income per average common share - diluted $1.34 $1.56 $4.06 $4.34 Net income per average common share - basic 1.35 1.58 4.09 4.38 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Employee Benefit Plans [Abstract] | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [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) 2019 2018 2019 2018 RSUs $30 $21 $84 $82 Phantom stock units 1 3 10 28 36 Total stock-based compensation expense $33 $31 $112 $118 Stock-based compensation tax benefit 2 $8 $8 $27 $28 1 Phantom stock units are settled in cash. During the three and nine months ended September 30, 2019 , the Company paid less than $1 million and $44 million , respectively, related to these share-based liabilities. 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. 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) 2019 2018 2019 2018 2019 2018 2019 2018 Service cost $1 $1 $4 $4 $— $— $— $— Interest cost 23 23 70 68 — — 1 1 Expected return on plan assets (36 ) (47 ) (110 ) (140 ) (1 ) (1 ) (4 ) (4 ) Amortization of prior service credit — — — — (1 ) (2 ) (4 ) (5 ) Amortization of actuarial loss 6 6 18 17 — — — — Net periodic benefit ($6 ) ($17 ) ($18 ) ($51 ) ($2 ) ($3 ) ($7 ) ($8 ) 1 Administrative fees are recognized in service cost for each of the periods presented. |
Guarantees (Tables)
Guarantees (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
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) 2019 2018 2019 2018 Balance, beginning of period $23 $36 $26 $39 Repurchase (benefit)/provision (1 ) 1 (4 ) (2 ) Charge-offs, net of recoveries — (1 ) — (1 ) Balance, end of period $22 $36 $22 $36 |
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, December 31, 2018 Outstanding repurchased residential mortgage loans: Performing LHFI $135 $183 Nonperforming LHFI 9 16 Total carrying value of outstanding repurchased residential mortgages $144 $199 |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
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, 2019 and December 31, 2018 . The notional amounts in the table are presented on a gross basis at September 30, 2019 and December 31, 2018 . 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, 2019 December 31, 2018 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 $15,225 $— $1 $10,500 $1 $2 Subtotal 15,225 — 1 10,500 1 2 Fair value hedges: 2 Interest rate contracts hedging fixed rate debt 12,155 — — 9,550 1 1 Interest rate contracts hedging brokered time deposits — — — 59 — — Subtotal 12,155 — — 9,609 1 1 Derivative instruments not designated as hedging instruments 3 Interest rate contracts hedging: Residential MSRs 4 19,300 43 24 28,011 54 10 LHFS, IRLCs 5 6,688 10 12 4,891 18 38 LHFI 102 — — 159 — — Trading activity 6 147,485 1,706 709 127,286 771 687 Foreign exchange rate contracts hedging loans and trading activity 11,954 185 182 9,824 129 119 Credit contracts hedging: LHFI 918 — 28 830 — 14 Trading activity 7 5,136 38 34 4,058 97 95 Equity contracts hedging trading activity 6 36,181 1,774 1,939 34,471 1,447 1,644 Other contracts: IRLCs and other 8 3,763 28 11 1,393 20 15 Commodity derivatives 2,491 94 91 2,020 93 91 Subtotal 234,018 3,878 3,030 212,943 2,629 2,713 Total derivative instruments $261,398 $3,878 $3,031 $233,052 $2,631 $2,716 Total gross derivative instruments (before netting) $3,878 $3,031 $2,631 $2,716 Less: Legally enforceable master netting agreements (1,750 ) (1,750 ) (1,654 ) (1,654 ) Less: Cash collateral received/paid (358 ) (1,007 ) (338 ) (652 ) Total derivative instruments (after netting) $1,770 $274 $639 $410 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 $753 million and $921 million related to interest rate futures at September 30, 2019 and December 31, 2018 , 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 $53 million and $116 million related to interest rate futures at September 30, 2019 and December 31, 2018 , 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 $2.7 billion and $1.2 billion related to interest rate futures at September 30, 2019 and December 31, 2018 , and $210 million and $136 million related to equity futures at September 30, 2019 and December 31, 2018 , 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 $9 million and $6 million from purchased credit risk participation agreements at September 30, 2019 and December 31, 2018 , and $41 million and $33 million from written credit risk participation agreements at September 30, 2019 and December 31, 2018 , 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 related to the Visa derivative liability at both September 30, 2019 and December 31, 2018 . See Note 15 , "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, 2019 and December 31, 2018 , 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, 2019 Derivative instrument assets: Derivatives subject to master netting arrangement or similar arrangement $3,269 $1,973 $1,296 $15 $1,281 Derivatives not subject to master netting arrangement or similar arrangement 143 — 143 1 142 Exchange traded derivatives 466 135 331 — 331 Total derivative instrument assets $3,878 $2,108 $1,770 1 $16 $1,754 Derivative instrument liabilities: Derivatives subject to master netting arrangement or similar arrangement $2,787 $2,622 $165 $18 $147 Derivatives not subject to master netting arrangement or similar arrangement 109 — 109 13 96 Exchange traded derivatives 135 135 — — — Total derivative instrument liabilities $3,031 $2,757 $274 2 $31 $243 December 31, 2018 Derivative instrument assets: Derivatives subject to master netting arrangement or similar arrangement $2,425 $1,873 $552 $12 $540 Derivatives not subject to master netting arrangement or similar arrangement 20 — 20 — 20 Exchange traded derivatives 186 119 67 — 67 Total derivative instrument assets $2,631 $1,992 $639 1 $12 $627 Derivative instrument liabilities: Derivatives subject to master netting arrangement or similar arrangement $2,521 $2,187 $334 $14 $320 Derivatives not subject to master netting arrangement or similar arrangement 76 — 76 — 76 Exchange traded derivatives 119 119 — — — Total derivative instrument liabilities $2,716 $2,306 $410 2 $14 $396 1 At September 30, 2019 , $1.8 billion , net of $358 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2018 , $639 million , net of $338 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. 2 At September 30, 2019 , $274 million , net of $1.0 billion offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2018 , $410 million , net of $652 million 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] | 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. The table does not disclose the financial impact of the activities that these derivative instruments are intended to hedge. Net Interest Income (Dollars in millions) Interest and fees on LHFI Interest on Long-term Debt Total Three Months Ended September 30, 2019 Interest income/(expense), including the effects of fair value and cash flow hedges $1,708 ($150 ) $1,558 (Loss)/gain on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $— ($1 ) ($1 ) Recognized on derivatives — 43 43 Recognized on hedged items — (47 ) 1 (47 ) Net expense recognized on fair value hedges $— ($5 ) ($5 ) Loss on cash flow hedging relationships: Interest rate contracts: Amount of pre-tax loss reclassified from AOCI into income ($46 ) 2 $— ($46 ) Net expense recognized on cash flow hedges ($46 ) $— ($46 ) Nine Months Ended September 30, 2019 Interest income/(expense), including the effects of fair value and cash flow hedges $5,125 ($425 ) $4,700 (Loss)/gain on fair value hedging relationships: Interest rate contracts: Amounts related to interest settlements on derivatives $— ($10 ) ($10 ) Recognized on derivatives — 267 267 Recognized on hedged items — (282 ) 1 (282 ) Net expense recognized on fair value hedges $— ($25 ) ($25 ) Loss on cash flow hedging relationships: Interest rate contracts: Amount of pre-tax loss reclassified from AOCI into income ($129 ) 2 $— ($129 ) Net expense recognized on cash flow hedges ($129 ) $— ($129 ) Three Months Ended September 30, 2018 Interest income/(expense), including the effects of fair value and cash flow hedges $1,549 ($95 ) $1,454 (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 ) $4,172 (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 ) 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, 2019 Long-term debt $11,295 $180 ($28 ) December 31, 2018 Long-term debt $8,411 ($10 ) ($120 ) 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 Gain/(Loss) Recognized in Income on Derivatives Amount of Gain/(Loss) Recognized in Income on Derivatives During the Three Months Ended September 30 Amount of Gain/(Loss) Recognized in Income on Derivatives During the Nine Months Ended September 30 (Dollars in millions) 2019 2018 2019 2018 Derivative instruments not designated as hedging instruments: Interest rate contracts hedging: Residential MSRs Mortgage-related income $166 ($54 ) $436 ($210 ) LHFS, IRLCs Mortgage-related income (31 ) 10 (76 ) 57 LHFI Other noninterest income (1 ) 1 (4 ) 3 Trading activity Trading income 1 18 22 48 Foreign exchange rate contracts hedging loans and trading activity Trading income 39 9 46 49 Credit contracts hedging: LHFI Other noninterest income (1 ) (5 ) (16 ) (5 ) Trading activity Trading income 7 5 20 16 Equity contracts hedging trading activity Trading income 6 6 34 8 Other contracts: IRLCs and other Mortgage-related income; 58 19 144 39 Commodity derivatives Trading income 1 — 2 — Total $245 $9 $608 $5 |
Credit Derivative Instruments - TRS Contracts [Table Text Block] | The following table presents information related to the Company's outstanding TRS contracts. (Dollars in millions) September 30, 2019 December 31, 2018 Outstanding TRS notional balances $2,543 $2,009 TRS assets at fair value 38 97 TRS liabilities at fair value 34 94 Cash collateral held for TRS contracts 635 601 |
Fair Value Election and Measu_2
Fair Value Election and Measurement (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on a Recurring Basis | 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. There have been no significant changes in the Company’s valuation techniques or inputs used in estimating fair value for assets and liabilities measured on a recurring basis from those disclosed in Note 20, “Fair Value Election and Measurement,” to the Company's 2018 Annual Report on Form 10-K . September 30, 2019 Fair Value Measurements Netting Adjustments 1 Assets/Liabilities at Fair Value (Dollars in millions) Level 1 Level 2 Level 3 Assets Trading assets and derivative instruments: U.S. Treasury securities $212 $— $— $— $212 Federal agency securities — 319 — — 319 U.S. states and political subdivisions — 43 — — 43 MBS - agency residential — 1,004 — — 1,004 MBS - agency commercial — 51 — — 51 ABS — 7 — — 7 Corporate and other debt securities — 628 — — 628 CP — 122 — — 122 Equity securities 86 — — — 86 Derivative instruments 466 3,385 27 (2,108 ) 1,770 Trading loans 2 — 2,862 — — 2,862 Total trading assets and derivative instruments 764 8,421 27 (2,108 ) 7,104 Securities AFS: U.S. Treasury securities 4,018 — — — 4,018 Federal agency securities — 124 — — 124 U.S. states and political subdivisions — 572 — — 572 MBS - agency residential — 22,585 — — 22,585 MBS - agency commercial — 2,983 — — 2,983 MBS - non-agency commercial — 1,064 — — 1,064 Corporate and other debt securities — 12 — — 12 Total securities AFS 4,018 27,340 — — 31,358 LHFS — 1,488 — — 1,488 LHFI — — 124 — 124 Residential MSRs — — 1,564 — 1,564 Other assets 76 — — — 76 Liabilities Trading liabilities and derivative instruments: U.S. Treasury securities 538 — — — 538 Corporate and other debt securities — 539 — — 539 Equity securities 20 — — — 20 Derivative instruments 135 2,886 10 (2,757 ) 274 Trading loans — 9 — — 9 Total trading liabilities and derivative instruments 693 3,434 10 (2,757 ) 1,380 Brokered time deposits — 552 — — 552 Long-term debt — 302 — — 302 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 16 , “Derivative Financial Instruments,” for additional information. 2 At September 30, 2019 , includes $2.5 billion of loans related to the Company’s TRS business, $70 million of loans related to the Company’s loan sales and trading business held in inventory, and $227 million of loans backed by the SBA held in inventory. December 31, 2018 Fair Value Measurements Netting Adjustments 1 Assets/Liabilities at Fair Value (Dollars in millions) Level 1 Level 2 Level 3 Assets Trading assets and derivative instruments: U.S. Treasury securities $262 $— $— $— $262 Federal agency securities — 188 — — 188 U.S. states and political subdivisions — 54 — — 54 MBS - agency residential — 860 — — 860 Corporate and other debt securities — 700 — — 700 CP — 190 — — 190 Equity securities 73 — — — 73 Derivative instruments 186 2,425 20 (1,992 ) 639 Trading loans 2 — 2,540 — — 2,540 Total trading assets and derivative instruments 521 6,957 20 (1,992 ) 5,506 Securities AFS: U.S. Treasury securities 4,211 — — — 4,211 Federal agency securities — 221 — — 221 U.S. states and political subdivisions — 589 — — 589 MBS - agency residential — 22,864 — — 22,864 MBS - agency commercial — 2,627 — — 2,627 MBS - non-agency commercial — 916 — — 916 Corporate and other debt securities — 14 — — 14 Total securities AFS 4,211 27,231 — — 31,442 LHFS — 1,178 — — 1,178 LHFI — — 163 — 163 Residential MSRs — — 1,983 — 1,983 Other assets 95 — — — 95 Liabilities Trading liabilities and derivative instruments: U.S. Treasury securities 801 — — — 801 MBS - agency — 3 — — 3 Corporate and other debt securities — 385 — — 385 Equity securities 5 — — — 5 Derivative instruments 119 2,590 7 (2,306 ) 410 Total trading liabilities and derivative instruments 925 2,978 7 (2,306 ) 1,604 Brokered time deposits — 403 — — 403 Long-term debt — 289 — — 289 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 16 , “Derivative Financial Instruments,” for additional information. 2 At December 31, 2018 , includes $2.0 billion of loans related to the Company’s TRS business, $137 million of loans related to the Company’s loan sales and trading business held in inventory, and $366 million of loans backed by the SBA loans held in inventory, measured at fair value. |
Fair Value Option Elected, Difference Between the Aggregate Fair Value and the Aggregate Unpaid Principal Balance | 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, 2019 Aggregate UPB at September 30, 2019 Fair Value Over/(Under) Unpaid Principal Assets: Trading loans $2,862 $2,779 $83 LHFS: Accruing 1,488 1,446 42 LHFI: Accruing 121 119 2 Nonaccrual 3 4 (1 ) Liabilities: Trading loans 9 9 — Brokered time deposits 552 539 13 Long-term debt 302 290 12 (Dollars in millions) Fair Value at December 31, 2018 Aggregate UPB at December 31, 2018 Fair Value Over/(Under) Unpaid Principal Assets: Trading loans $2,540 $2,526 $14 LHFS: Accruing 1,178 1,128 50 LHFI: Accruing 158 163 (5 ) Nonaccrual 5 6 (1 ) Liabilities: Brokered time deposits 403 403 — Long-term debt 289 286 3 |
Fair Value Gains/(Losses) for Items Measured at Fair Value Option [Table Text Block] | Fair Value (Loss)/Gain for the Three Months Ended September 30, 2019 for Items Measured at Fair Value Pursuant to Election of the FVO Fair Value Gain/(Loss) for the Nine Months Ended September 30, 2019 for Items Measured at Fair Value Pursuant to Election of the FVO (Dollars in millions) Trading Income Mortgage 1 Related Income Other Noninterest Income Total 2 Changes in Fair Values Included in Earnings Trading Income Mortgage 1 Related Other Noninterest Income Total 2 Changes in Fair Values Included in Earnings Assets: Trading loans 3 ($1 ) $— $— ($1 ) $18 $— $— $18 LHFS 4 — 40 — 40 — 80 — 80 LHFI — — 2 2 — — 5 5 Residential MSRs — (250 ) — (250 ) — (650 ) — (650 ) Liabilities: Brokered time deposits (3 ) — — (3 ) (24 ) — — (24 ) Long-term debt (2 ) — — (2 ) (15 ) — — (15 ) 1 Income related to LHFS does not include income from IRLC s. For the three and nine months ended September 30, 2019 , 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, 2019 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 Includes an immaterial amount of gains or losses in the Consolidated Statements of Income due to changes in fair value attributable to instrument-specific credit risk for three and nine months ended September 30, 2019 . 4 Includes an immaterial amount of gains or losses in the Consolidated Statements of Income due to changes in fair value attributable to borrower-specific credit risk for the three and nine months ended September 30, 2019 . 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 1 Related Income Other Noninterest Income Total 2 Changes in Fair Values Included in Earnings Trading Mortgage 1 Related Income Other Total 2 Changes in Fair Values Included in Earnings Assets: Trading loans 3 $3 $— $— $3 $10 $— $— $10 LHFS 4 — 5 — 5 — (3 ) — (3 ) LHFI — — (1 ) (1 ) — — (4 ) (4 ) Residential MSRs — (8 ) — (8 ) — 22 — 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. 3 Includes an immaterial amount of gains or losses in the Consolidated Statements of Income due to changes in fair value attributable to instrument-specific credit risk for three and nine months ended September 30, 2018 . 4 Includes an immaterial amount of gains or losses in the Consolidated Statements of Income due to changes in fair value attributable to borrower-specific credit risk for the three and nine months ended September 30, 2018 . |
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, 2019 Valuation Technique Unobservable Input Range (Weighted Average) 1 Assets Trading assets and derivative instruments: Derivative instruments, net 2 $17 Internal model Pull through rate 2-100% (83%) MSR value 21-155 bps (102 bps) LHFI 121 Monte Carlo/Discounted cash flow Option adjusted spread 62-250 bps (172 bps) Conditional prepayment rate 7-31 CPR (16 CPR) Conditional default rate 0-2 CDR (0.5 CDR) 3 Collateral based pricing Appraised value NM 3 Residential MSRs 1,564 Monte Carlo/Discounted cash flow Conditional prepayment rate 6-31 CPR (15 CPR) Option adjusted spread 1-29% (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 in Note 20, “Fair Value Election and Measurement,” to the Company's 2018 Annual Report on Form 10-K , 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, 2018 Valuation Technique Unobservable Input Range (Weighted Average) 1 Assets Trading assets and derivative instruments: Derivative instruments, net 2 $13 Internal model Pull through rate 41-100% (81%) MSR value 11-165 bps (108 bps) LHFI 158 Monte Carlo/Discounted cash flow Option adjusted spread 0-250 bps (164 bps) Conditional prepayment rate 7-22 CPR (12 CPR) Conditional default rate 0-1 CDR (0.6 CDR) 5 Collateral based pricing Appraised value NM 3 Residential MSRs 1,983 Monte Carlo/Discounted cash flow Conditional prepayment rate 6-30 CPR (13 CPR) Option adjusted spread 0-116% (2%) 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 in Note 20, “Fair Value Election and Measurement,” to the Company's 2018 Annual Report on Form 10-K , for a discussion of valuation assumptions related to the Visa derivative liability. 3 Not meaningful. |
Reconciliation of the Beginning and Ending Balances for Fair Valued Assets and Liabilities Measured on a Recurring Basis Using Significant Unobservable Inputs | The following tables present a reconciliation of the beginning and ending balances for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (other than residential MSRs which are disclosed in Note 8 , “Goodwill and Other Intangible Assets”). Transfers into and out of the fair value hierarchy levels are assumed to occur at the end of the period in which the transfer occurred. None of the transfers into or out of level 3 have been the result of using alternative valuation approaches to estimate fair values. 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 Trading assets: Derivative instruments, net $24 $60 1 $— $— $— ($3 ) ($64 ) 2 $— $— $17 LHFI 127 2 3 — — — (6 ) — 1 — 124 (Dollars in millions) Beginning Included OCI Purchases Sales Settlements Transfers to/from Other Balance Sheet Line Items Transfers Transfers Fair Value Trading assets: Derivative instruments, net $13 $147 1 $— $— $— ($5 ) ($138 ) 2 $— $— $17 LHFI 163 5 3 — — — (21 ) — 2 (25 ) 124 1 Includes issuances, fair value changes, and expirations. Amount related to residential IRLC s is recognized in Mortgage-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 $23 million in earnings during both the three and nine months ended September 30, 2019 , related to changes in unrealized gains on net derivative instruments still held at September 30, 2019 . 2 During the three and nine months ended September 30, 2019 , the Company transferred $64 million and $138 million , respectively, of net IRLC assets out of level 3 as the associated loans were closed. 3 Amounts are generally included in Mortgage-related income; however, the mark on certain fair value loans is included in Other noninterest income. Included $3 million and $5 million in earnings during the three and nine months ended September 30, 2019 , respectively, related to changes in unrealized gains on LHFI still held at September 30, 2019 . 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 Trading assets: Derivative instruments, net $3 $18 1 $— $— $— $8 ($26 ) 2 $— $— $3 LHFI 177 — 3 — — — (9 ) — — — 168 (Dollars in millions) Beginning Included OCI Purchases Sales Settlements Transfers to/from Other Balance Sheet Line Items Transfers Transfers Fair Value Trading assets: Derivative instruments, net $— $36 1 $— $— $— $10 ($43 ) 2 $— $— $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 ) 3 — — — (26 ) — 1 — 168 1 Includes issuances, fair value changes, and expirations. Amount related to residential IRLC s is recognized in Mortgage-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 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. 3 Amounts are generally included in Mortgage-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 . |
Change in Carrying Value of Assets Measured at Fair Value on a Non-Recurring Basis | The following tables present gains and losses recognized on assets still held at period end, and measured at fair value on a non-recurring basis, for the three and nine months ended September 30, 2019 and the year ended December 31, 2018 . Adjustments to fair value generally result from the application of LOCOM , or the measurement alternative, or through write-downs of individual assets. The tables do not reflect changes in fair value attributable to economic hedges the Company may have used to mitigate interest rate risk associated with LHFS. Fair Value Measurements (Losses)/Gains for the (Losses)/Gains for the Nine Months Ended September 30, 2019 (Dollars in millions) September 30, 2019 Level 1 Level 2 Level 3 LHFS $311 $— $311 $— ($14 ) ($14 ) LHFI 128 — — 128 — — OREO 22 — — 22 (1 ) (3 ) Other assets 74 — 61 13 16 14 Fair Value Measurements (Losses)/Gains for the December 31, 2018 (Dollars in millions) December 31, 2018 Level 1 Level 2 Level 3 LHFS $47 $— $47 $— ($1 ) LHFI 63 — — 63 — OREO 19 — — 19 (4 ) Other assets 67 — 47 20 24 |
Carrying Amounts and Fair Values of the Company's Financial Instruments | The carrying amounts and fair values of the Company’s financial instruments are as follows: September 30, 2019 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 $9,184 $9,184 $9,184 $— $— Trading assets and derivative instruments Fair value 7,104 7,104 764 6,313 27 Securities AFS Fair value 31,358 31,358 4,018 27,340 — LHFS Amortized cost 518 525 — 448 77 Fair value 1,488 1,488 — 1,488 — LHFI, net Amortized cost 156,632 156,222 — — 156,222 Fair value 124 124 — — 124 Other 1 Amortized cost 737 737 — — 737 Fair value 76 76 76 — — Financial liabilities: Consumer and other time deposits Amortized cost 16,727 16,637 — 16,637 — Brokered time deposits Amortized cost 993 964 — 964 — Fair value 552 552 — 552 — Short-term borrowings Amortized cost 7,144 7,144 — 7,144 — Long-term debt Amortized cost 20,067 20,257 — 18,490 1,767 Fair value 302 302 — 302 — Trading liabilities and derivative instruments Fair value 1,380 1,380 693 677 10 December 31, 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 $7,495 $7,495 $7,495 $— $— Trading assets and derivative instruments Fair value 5,506 5,506 521 4,965 20 Securities AFS Fair value 31,442 31,442 4,211 27,231 — LHFS Amortized cost 290 291 — 261 30 Fair value 1,178 1,178 — 1,178 — LHFI, net Amortized cost 150,061 148,167 — — 148,167 Fair value 163 163 — — 163 Other 1 Amortized cost 630 630 — — 630 Fair value 95 95 95 — — Financial liabilities: Consumer and other time deposits Amortized cost 15,355 15,106 — 15,106 — Brokered time deposits Amortized cost 642 615 — 615 — Fair value 403 403 — 403 — Short-term borrowings Amortized cost 8,772 8,772 — 8,772 — Long-term debt Amortized cost 14,783 14,729 — 13,024 1,705 Fair value 289 289 — 289 — Trading liabilities and derivative instruments Fair value 1,604 1,604 925 672 7 1 Other financial assets recorded at amortized cost consist of FHLB |
Business Segment Reporting Busi
Business Segment Reporting Business Segment Reporting (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Segment Reporting [Abstract] | |
Business Segment Reporting [Table Text Block] | Three Months Ended September 30, 2019 (Dollars in millions) Consumer Wholesale Corporate Other Reconciling Consolidated Balance Sheets: Average LHFI $80,414 $77,107 $91 $— $157,612 Average consumer and commercial deposits 114,132 45,817 2,779 (195 ) 162,533 Average total assets 90,329 93,584 38,557 2,277 224,747 Average total liabilities 114,989 52,471 31,126 (65 ) 198,521 Average total equity — — — 26,226 26,226 Statements of Income: Net interest income $1,068 $529 ($79 ) ($8 ) $1,510 FTE adjustment — 21 — 1 22 Net interest income-FTE 1 1,068 550 (79 ) (7 ) 1,532 Provision for credit losses 2 77 56 — (1 ) 132 Net interest income after provision for credit losses-FTE 991 494 (79 ) (6 ) 1,400 Total noninterest income 479 368 34 (38 ) 843 Total noninterest expense 1,025 457 (5 ) (3 ) 1,474 Income before provision for income taxes-FTE 445 405 (40 ) (41 ) 769 Provision for income taxes-FTE 3 102 96 (10 ) (44 ) 144 Net income including income attributable to noncontrolling interest 343 309 (30 ) 3 625 Less: Net income attributable to noncontrolling interest — — 2 — 2 Net income $343 $309 ($32 ) $3 $623 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, 2018 (Dollars in millions) Consumer Wholesale Corporate Other Reconciling Consolidated Balance Sheets: Average LHFI $75,234 $70,669 $93 ($1 ) $145,995 Average consumer and commercial deposits 111,950 44,702 3,264 (568 ) 159,348 Average total assets 85,933 84,909 35,647 906 207,395 Average total liabilities 112,898 51,215 19,531 (524 ) 183,120 Average total equity — — — 24,275 24,275 Statements of Income: Net interest income $1,056 $539 ($46 ) ($37 ) $1,512 FTE adjustment — 22 1 (1 ) 22 Net interest income-FTE 1 1,056 561 (45 ) (38 ) 1,534 Provision for credit losses 2 36 24 — 1 61 Net interest income after provision for credit losses-FTE 1,020 537 (45 ) (39 ) 1,473 Total noninterest income 444 368 16 (46 ) 782 Total noninterest expense 991 432 (35 ) (4 ) 1,384 Income before provision for income taxes-FTE 473 473 6 (81 ) 871 Provision for income taxes-FTE 3 108 112 (51 ) (52 ) 117 Net income including income attributable to noncontrolling interest 365 361 57 (29 ) 754 Less: Net income attributable to noncontrolling interest — — 2 — 2 Net income $365 $361 $55 ($29 ) $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. Nine Months Ended September 30, 2019 (Dollars in millions) Consumer Wholesale Corporate Other Reconciling Consolidated Balance Sheets: Average LHFI $79,473 $76,481 $90 $— $156,044 Average consumer and commercial deposits 113,067 44,777 3,224 (289 ) 160,779 Average total assets 89,026 92,046 38,189 1,758 221,019 Average total liabilities 113,979 51,441 30,465 (173 ) 195,712 Average total equity — — — 25,307 25,307 Statements of Income: Net interest income $3,222 $1,607 ($222 ) ($18 ) $4,589 FTE adjustment — 65 1 — 66 Net interest income-FTE 1 3,222 1,672 (221 ) (18 ) 4,655 Provision for credit losses 2 204 208 — — 412 Net interest income after provision for credit losses-FTE 3,018 1,464 (221 ) (18 ) 4,243 Total noninterest income 1,415 1,137 230 (129 ) 2,653 Total noninterest expense 3,029 1,382 207 (16 ) 4,602 Income before provision for income taxes-FTE 1,404 1,219 (198 ) (131 ) 2,294 Provision for income taxes-FTE 3 321 289 (81 ) (133 ) 396 Net income including income attributable to noncontrolling interest 1,083 930 (117 ) 2 1,898 Less: Net income attributable to noncontrolling interest — — 7 — 7 Net income $1,083 $930 ($124 ) $2 $1,891 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, 2018 (Dollars in millions) Consumer Wholesale Corporate Other Reconciling Consolidated Balance Sheets: Average LHFI $74,907 $69,375 $89 ($3 ) $144,368 Average consumer and commercial deposits 111,008 45,247 3,234 (330 ) 159,159 Average total assets 84,909 83,193 35,585 1,683 205,370 Average total liabilities 111,909 51,375 18,065 (303 ) 181,046 Average total equity — — — 24,324 24,324 Statements of Income: Net interest income $3,087 $1,580 ($111 ) ($116 ) $4,440 FTE adjustment — 63 2 — 65 Net interest income-FTE 1 3,087 1,643 (109 ) (116 ) 4,505 Provision for credit losses 2 102 19 — — 121 Net interest income after provision for credit losses-FTE 2,985 1,624 (109 ) (116 ) 4,384 Total noninterest income 1,347 1,096 81 (116 ) 2,408 Total noninterest expense 2,984 1,307 (83 ) (17 ) 4,191 Income before provision for income taxes-FTE 1,348 1,413 55 (215 ) 2,601 Provision for income taxes-FTE 3 305 334 (23 ) (139 ) 477 Net income including income attributable to noncontrolling interest 1,043 1,079 78 (76 ) 2,124 Less: Net income attributable to noncontrolling interest — — 7 — 7 Net income $1,043 $1,079 $71 ($76 ) $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. |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
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, 2019 Balance, beginning of period $437 ($148 ) $— ($1 ) ($689 ) ($401 ) Net unrealized gains arising during the period 169 47 — — — 216 Amounts reclassified to net income (3 ) 35 — — 4 36 Other comprehensive income, net of tax 166 82 — — 4 252 Balance, end of period $603 ($66 ) $— ($1 ) ($685 ) ($149 ) 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 ) Nine Months Ended September 30, 2019 Balance, beginning of period ($357 ) ($368 ) $1 ($1 ) ($695 ) ($1,420 ) Net unrealized gains/(losses) arising during the period 931 203 (1 ) — — 1,133 Amounts reclassified to net income 29 99 — — 10 138 Other comprehensive income/(loss), net of tax 960 302 (1 ) — 10 1,271 Balance, end of period $603 ($66 ) $— ($1 ) ($685 ) ($149 ) 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 ) 1 Related to the Company’s early adoption of ASU 2018-02 on January 1, 2018. See Note 1 , “Significant Accounting Policies,” to the Company's 2018 Annual Report on Form 10-K 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 2019 2018 2019 2018 Securities AFS: Net realized (gains)/losses on securities AFS ($4 ) $— $38 ($1 ) Net securities gains/(losses) Tax effect 1 — (9 ) — Provision for income taxes (3 ) — 29 (1 ) Derivative Instruments: Net realized losses on cash flow hedges 46 22 129 39 Interest and fees on loans held for investment Tax effect (11 ) (5 ) (30 ) (9 ) Provision for income taxes 35 17 99 30 Employee Benefit Plans: Amortization of prior service credit (1 ) (2 ) (4 ) (5 ) Employee benefits Amortization of actuarial loss 6 6 18 17 Employee benefits 5 4 14 12 Tax effect (1 ) (1 ) (4 ) (3 ) Provision for income taxes 4 3 10 9 Total reclassifications from AOCI to net income $36 $20 $138 $38 |
Significant Accounting Polici_3
Significant Accounting Policies Significant Accounting Policies Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2019 | Jan. 01, 2019 | |
Significant Accounting Policies [Line Items] | |||
Operating and Finance Lease Liabilities | $ 1,215 | $ 1,215 | |
Operating and Finance Lease, Right-of-Use Asset | 1,134 | 1,134 | |
Interest Received from Sales-Type and Direct Financing Leases | $ 36 | $ 106 | |
Adoption of ASU 2016-02 [Member] | |||
Significant Accounting Policies [Line Items] | |||
Sale Leaseback Transaction, Deferred Gain, Gross | $ 31 | ||
Operating and Finance Lease Liabilities | 1,300 | ||
Operating and Finance Lease, Right-of-Use Asset | $ 1,200 |
Disaggregation of Revenue (Deta
Disaggregation of Revenue (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | $ (843) | $ (782) | $ (2,653) | $ (2,408) | ||||
Contract with Customer, Performance Obligation Satisfied in Previous Period | 12 | 12 | $ 31 | 38 | ||||
Document Period End Date | Sep. 30, 2019 | |||||||
In Scope of ASC 606 [Member] | Wholesale [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (154) | [1] | (163) | [2] | $ (442) | [3] | (478) | [4] |
In Scope of ASC 606 [Member] | Consumer [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (355) | [1] | (345) | [2] | (1,029) | [3] | (1,036) | [4] |
Out of Scope of ASC 606 [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (334) | [1],[5] | (274) | [2],[6] | (1,182) | [3],[7] | (894) | [4],[8] |
Out of Scope of ASC 606 [Member] | Wholesale [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue Recognition, Including Assessed Tax | 618 | |||||||
Revenue from Contract with Customer, Including Assessed Tax | (214) | (205) | (695) | |||||
Out of Scope of ASC 606 [Member] | Consumer [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue Recognition, Including Assessed Tax | 311 | |||||||
Revenue from Contract with Customer, Including Assessed Tax | (124) | (99) | (386) | |||||
Out of Scope of ASC 606 [Member] | Corporate Other [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue Recognition, Including Assessed Tax | (35) | |||||||
Revenue from Contract with Customer, Including Assessed Tax | 4 | 30 | (101) | |||||
Deposit Account [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (141) | (144) | (417) | (433) | ||||
Deposit Account [Member] | In Scope of ASC 606 [Member] | Wholesale [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (29) | [1] | (33) | [2] | (93) | [3] | (103) | [4] |
Deposit Account [Member] | In Scope of ASC 606 [Member] | Consumer [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (112) | [1] | (111) | [2] | (324) | [3] | (330) | [4] |
Deposit Account [Member] | Out of Scope of ASC 606 [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | [1],[5] | 0 | [2],[6] | 0 | [3],[7] | 0 | [4],[8] |
Financial Service, Other [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (90) | [9] | (89) | [10] | (265) | [11] | (264) | [12] |
Financial Service, Other [Member] | In Scope of ASC 606 [Member] | Wholesale [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (4) | [1],[9] | (3) | [2],[10] | (12) | [3],[11] | (8) | [4],[12] |
Financial Service, Other [Member] | In Scope of ASC 606 [Member] | Consumer [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (27) | [1],[9] | (28) | [2],[10] | (82) | [3],[11] | (85) | [4],[12] |
Financial Service, Other [Member] | Out of Scope of ASC 606 [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (59) | [1],[5],[9] | (58) | [2],[6],[10] | (171) | [3],[7],[11] | (171) | [4],[8],[12] |
Credit and Debit Card [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (83) | (75) | (247) | (241) | ||||
Credit and Debit Card [Member] | In Scope of ASC 606 [Member] | Wholesale [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (24) | [1] | (26) | [2] | (75) | [3] | (78) | [4] |
Credit and Debit Card [Member] | In Scope of ASC 606 [Member] | Consumer [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (57) | [1] | (49) | [2] | (168) | [3] | (160) | [4] |
Credit and Debit Card [Member] | Out of Scope of ASC 606 [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (2) | [1],[5] | 0 | [2],[6] | (4) | [3],[7] | (3) | [4],[8] |
Investment Banking [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (159) | (150) | (431) | (453) | ||||
Investment Banking [Member] | In Scope of ASC 606 [Member] | Wholesale [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (97) | [1] | (101) | [2] | (261) | [3] | (287) | [4] |
Investment Banking [Member] | In Scope of ASC 606 [Member] | Consumer [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | [1] | 0 | [2] | 0 | [3] | 0 | [4] |
Investment Banking [Member] | Out of Scope of ASC 606 [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (62) | [1],[5] | (49) | [2],[6] | (170) | [3],[7] | (166) | [4],[8] |
Trading [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (29) | (42) | (144) | (137) | ||||
Trading [Member] | In Scope of ASC 606 [Member] | Wholesale [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | [1] | 0 | [2] | 0 | [3] | 0 | [4] |
Trading [Member] | In Scope of ASC 606 [Member] | Consumer [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | [1] | 0 | [2] | 0 | [3] | 0 | [4] |
Trading [Member] | Out of Scope of ASC 606 [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (29) | [1],[5] | (42) | [2],[6] | (144) | [3],[7] | (137) | [4],[8] |
Insurance Settlement [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (5) | 0 | (210) | 0 | ||||
Insurance Settlement [Member] | In Scope of ASC 606 [Member] | Wholesale [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | [1] | 0 | [2] | 0 | [3] | 0 | [4] |
Insurance Settlement [Member] | In Scope of ASC 606 [Member] | Consumer [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | [1] | 0 | [2] | 0 | [3] | 0 | [4] |
Insurance Settlement [Member] | Out of Scope of ASC 606 [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (5) | [1],[5] | 0 | [2],[6] | (210) | [3],[7] | 0 | [4],[8] |
Mortgage Banking [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (106) | (83) | (294) | (256) | ||||
Mortgage Banking [Member] | In Scope of ASC 606 [Member] | Wholesale [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | [1] | 0 | [2] | 0 | [3] | 0 | [4] |
Mortgage Banking [Member] | In Scope of ASC 606 [Member] | Consumer [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | [1] | 0 | [2] | 0 | [3] | 0 | [4] |
Mortgage Banking [Member] | Out of Scope of ASC 606 [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (106) | [1],[5] | (83) | [2],[6] | (294) | [3],[7] | (256) | [4],[8] |
Fiduciary and Trust [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (78) | (80) | (222) | (230) | ||||
Fiduciary and Trust [Member] | In Scope of ASC 606 [Member] | Wholesale [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | [1] | 0 | [2] | 0 | [3] | 0 | [4] |
Fiduciary and Trust [Member] | In Scope of ASC 606 [Member] | Consumer [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (77) | [1] | (79) | [2] | (220) | [3] | (228) | [4] |
Fiduciary and Trust [Member] | Out of Scope of ASC 606 [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (1) | [1],[5] | (1) | [2],[6] | (2) | [3],[7] | (2) | [4],[8] |
Investment Advisory, Management and Administrative Service [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (76) | [13] | (74) | [14] | (220) | [15] | (219) | [16] |
Investment Advisory, Management and Administrative Service [Member] | In Scope of ASC 606 [Member] | Wholesale [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | [1],[13] | 0 | [2],[14] | (1) | [3],[15] | (2) | [4],[16] |
Investment Advisory, Management and Administrative Service [Member] | In Scope of ASC 606 [Member] | Consumer [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (76) | [1],[13] | (73) | [2],[14] | (218) | [3],[15] | (216) | [4],[16] |
Investment Advisory, Management and Administrative Service [Member] | Out of Scope of ASC 606 [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | [1],[5],[13] | (1) | [2],[6],[14] | (1) | [3],[7],[15] | (1) | [4],[8],[16] |
Commercial Real Estate [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (32) | (24) | (106) | (66) | ||||
Commercial Real Estate [Member] | In Scope of ASC 606 [Member] | Wholesale [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | [1] | 0 | [2] | 0 | [3] | 0 | [4] |
Commercial Real Estate [Member] | In Scope of ASC 606 [Member] | Consumer [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | [1] | 0 | [2] | 0 | [3] | 0 | [4] |
Commercial Real Estate [Member] | Out of Scope of ASC 606 [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (32) | [1],[5] | (24) | [2],[6] | (106) | [3],[7] | (66) | [4],[8] |
Net Securities Gains/(Losses) [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 4 | 0 | (38) | (1) | ||||
Net Securities Gains/(Losses) [Member] | In Scope of ASC 606 [Member] | Wholesale [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | [1] | 0 | [2] | 0 | [3] | 0 | [4] |
Net Securities Gains/(Losses) [Member] | In Scope of ASC 606 [Member] | Consumer [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | [1] | 0 | [2] | 0 | [3] | 0 | [4] |
Net Securities Gains/(Losses) [Member] | Out of Scope of ASC 606 [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 4 | [1],[5] | 0 | [2],[6] | (38) | [3],[7] | (1) | [4],[8] |
Other Income [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (40) | (21) | (135) | (108) | ||||
Other Income [Member] | In Scope of ASC 606 [Member] | Wholesale [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | [1] | 0 | [2] | 0 | [3] | 0 | [4] |
Other Income [Member] | In Scope of ASC 606 [Member] | Consumer [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | (6) | [1] | (5) | [2] | (17) | [3] | (17) | [4] |
Other Income [Member] | Out of Scope of ASC 606 [Member] | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | $ (34) | [1],[5] | $ (16) | [2],[6] | $ (118) | [3],[7] | $ (91) | [4],[8] |
[1] | Consumer total noninterest income and Wholesale total noninterest income exclude $124 million and $214 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 19 , "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($4) million of Corporate Other noninterest income that is not subject to ASC Topic 606. | |||||||
[2] | Consumer total noninterest income and Wholesale total noninterest income exclude $99 million and $205 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 19 , "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($30) million of Corporate Other noninterest income that is not subject to ASC Topic 606. | |||||||
[3] | Consumer total noninterest income and Wholesale total noninterest income exclude $386 million and $695 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 19 , "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes $101 million of Corporate Other noninterest income that is not subject to ASC Topic 606. | |||||||
[4] | Consumer total noninterest income and Wholesale total noninterest income exclude $311 million and $618 million of out of scope noninterest income, respectively, which are included in the business segment results presented on a management accounting basis in Note 19 , "Business Segment Reporting." Out of scope total noninterest income includes these amounts and also includes ($35) million of Corporate Other noninterest income that is not subject to ASC Topic 606. | |||||||
[5] | 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. | |||||||
[6] | 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. | |||||||
[7] | 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. | |||||||
[8] | 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. | |||||||
[9] | The Company recognized an immaterial amount of insurance trailing commissions, the majority of which related to performance obligations satisfied in prior periods. | |||||||
[10] | The Company recognized an immaterial amount of insurance trailing commissions, the majority of which related to performance obligations satisfied in prior periods. | |||||||
[11] | The Company recognized an immaterial amount of insurance trailing commissions, the majority of which related to performance obligations satisfied in prior periods. | |||||||
[12] | The Company recognized an immaterial amount of insurance trailing commissions, the majority of which related to performance obligations satisfied in prior periods. | |||||||
[13] | The Company recognized $12 million of mutual fund 12b-1 fees and annuity trailing commissions, the majority of which related to performance obligations satisfied in prior periods. | |||||||
[14] | The Company recognized $12 million of mutual fund 12b-1 fees and annuity trailing commissions, the majority of which related to performance obligations satisfied in prior periods. | |||||||
[15] | The Company recognized $31 million of mutual fund 12b-1 fees and annuity trailing commissions, the majority of which related to performance obligations satisfied in prior periods. | |||||||
[16] | The Company recognized $38 million of mutual fund 12b-1 fees and annuity trailing commissions, the majority of which related to performance obligations satisfied in prior periods. |
Federal Funds Sold and Securi_3
Federal Funds Sold and Securities Financing Activities - Additional Information (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Securities Purchased under Agreements to Resell [Abstract] | ||
Fair Value of Securities Received as Collateral that Can be Resold or Repledged | $ 1,300 | $ 1,600 |
Fair Value of Securities Received as Collateral that Have Been Resold or Repledged | $ 72 | $ 108 |
Schedule of Resale Agreements (
Schedule of Resale Agreements (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Securities Purchased under Agreements to Resell [Abstract] | ||
Federal Funds Sold | $ 5 | $ 42 |
Securities Borrowed | 491 | 394 |
Securities Purchased under Agreements to Resell | 818 | 1,243 |
Federal Funds Sold and Securities Purchased under Agreements to Resell | $ 1,314 | $ 1,679 |
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, 2019 | Dec. 31, 2018 |
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | $ 1,829 | $ 1,774 |
US Treasury Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 89 | 204 |
US Government Agencies Debt Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 104 | 122 |
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 | 1,174 | 916 |
Commercial Paper [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 74 | 78 |
Corporate Debt Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 388 | 454 |
Maturity Overnight [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 1,485 | 1,484 |
Maturity Overnight [Member] | US Treasury Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 89 | 197 |
Maturity Overnight [Member] | US Government Agencies Debt Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 95 | 112 |
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 | 1,031 | 881 |
Maturity Overnight [Member] | Commercial Paper [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 74 | 78 |
Maturity Overnight [Member] | Corporate Debt Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 196 | 216 |
Maturity up to 30 days [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 344 | 210 |
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 | 0 | 7 |
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 | 9 | 10 |
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 | 143 | 35 |
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 | $ 192 | 158 |
Maturity 30 to 90 Days [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 80 | |
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 | |
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 | |
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 | |
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 | |
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 | $ 80 |
Federal Funds Sold and Securi_5
Federal Funds Sold and Securities Financing Activities Netting of Financial Instruments - Repurchase Agreements (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2019 | Dec. 31, 2018 | ||
Assets Sold under Agreements to Repurchase [Line Items] | |||
Document Period End Date | Sep. 30, 2019 | ||
Carrying Value of Securities Purchased under Agreements to Resell and Deposits Paid for Securities Borrowed | $ 1,309 | $ 1,637 | |
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell, Fair Value Disclosure | [1] | 1,309 | 1,637 |
Securities Purchased under Agreements to Resell, Fair Value of Collateral | 1,293 | 1,624 | |
Securities Purchased under Agreements to Resell, Not Subject to Master Netting Arrangement | 16 | 13 | |
Securities Borrowed or Purchased Under Agreements to Resell, Amount Not Offset Against Collateral | 0 | 0 | |
Securities Sold under Agreements to Repurchase, Gross | 1,829 | 1,774 | |
Securities Sold under Agreements to Repurchase | 1,829 | 1,774 | |
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Securities | 1,829 | 1,774 | |
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 | |
Federal Funds Sold | $ 5 | $ 42 | |
[1] | Excludes $5 million and $42 million of Fed Funds sold that are not subject to a master netting agreement at September 30, 2019 and December 31, 2018 , respectively. |
Trading Securities (Detail)
Trading Securities (Detail) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 | |
Debt and Equity Securities, FV-NI [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | [1] | $ 7,104 | $ 5,506 |
Trading liabilities | 1,380 | 1,604 | |
US Treasury Securities [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 212 | 262 | |
Trading liabilities | 538 | 801 | |
US Government Agencies Debt Securities [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 319 | 188 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 43 | 54 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Trading liabilities | 0 | 3 | |
Corporate Debt Securities [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 628 | 700 | |
Trading liabilities | 539 | 385 | |
Commercial Paper [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 122 | 190 | |
Equity Securities [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 86 | 73 | |
Trading liabilities | 20 | 5 | |
Derivative Financial Instruments, Assets [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | [2] | 1,770 | 639 |
Loans [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | [3] | 2,862 | 2,540 |
Derivative Financial Instruments, Liabilities [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Trading liabilities | [2] | 274 | 410 |
Trading Loans [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 2,862 | 2,540 | |
Trading liabilities | 9 | 0 | |
Fair Value, Recurring [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 7,104 | 5,506 | |
Fair Value, Recurring [Member] | 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 | 860 | ||
Fair Value, Recurring [Member] | Asset-backed Securities [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 7 | 0 | |
Fair Value, Recurring [Member] | Commercial Mortgage Backed Securities [Member] | 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 | 51 | 0 | |
Fair Value, Recurring [Member] | Residential Mortgage Backed Securities [Member] | 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 | $ 1,004 | $ 860 | |
[1] | Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,284 million and $1,442 million at September 30, 2019 and December 31, 2018, respectively. | ||
[2] | Amounts include the impact of offsetting cash collateral received from and paid to the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. | ||
[3] | Includes loans related to TRS . |
Schedule of Financial Instrumen
Schedule of Financial Instruments Owned and Pledged as Collateral (Detail) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Amount of Repurchase Agreements Secured by Trading Assets | $ 1,200 | $ 1,400 | |
Repurchase Agreements [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Security Owned and Pledged as Collateral, Fair Value | [1] | 1,226 | 1,418 |
Derivative [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Security Owned and Pledged as Collateral, Fair Value | 62 | 22 | |
Equity Trading [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Security Owned and Pledged as Collateral, Fair Value | $ 40 | $ 40 | |
[1] | Repurchase agreements secured by collateral totaled $1.2 billion and $1.4 billion at September 30, 2019 and December 31, 2018 , respectively. |
Loans - Additional Information
Loans - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gain (Loss) on Sales, Net | $ 45 | $ 47 | ||||
Long-term Debt | [1] | 20,369 | 20,369 | $ 15,072 | ||
Other Short-term Borrowings | 5,061 | 5,061 | 4,857 | |||
Loans held for investment | [2] | 158,455 | 158,455 | 151,839 | ||
Finance Leases Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans held for investment | $ 4,000 | $ 4,000 | $ 4,100 | |||
Federal National Mortgage Association (FNMA) Insured Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Percentage of Loan Portfolio Current | 29.00% | 29.00% | 27.00% | |||
Loans held for investment | $ 457 | $ 457 | $ 459 | |||
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] | ||||||
Percentage of Loan Portfolio Current | 78.00% | 78.00% | 72.00% | |||
Loans held for investment | $ 7,146 | $ 7,146 | $ 7,229 | |||
Consumer Indirect [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans held for investment | 14,060 | 14,060 | 12,419 | |||
Residential Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans held for investment | $ 38,100 | $ 38,100 | $ 38,900 | |||
Percentage of Loans Held for Investment | 24.00% | 24.00% | 26.00% | |||
Commercial Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans held for investment | $ 85,007 | $ 85,007 | $ 80,940 | |||
Geographic Distribution, Foreign [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans held for investment | 1,900 | 1,900 | 1,800 | |||
Home Equity Line of Credit [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans held for investment | [3] | 8,696 | 8,696 | 9,468 | ||
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 | 10,600 | 10,600 | 10,300 | |||
Mortgage Loans on Real Estate [Member] | Credit Concentration Risk [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Unused Commitments to Extend Credit | 5,700 | 5,700 | 2,700 | |||
Federal Home Loan Bank Advances [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Long-term Debt | 7,500 | 7,500 | $ 5,000 | |||
Consumer Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Sale | [4],[5] | 0 | $ 0 | 432 | $ 100 | |
Commercial Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Sale | [4],[5] | 171 | 14 | 387 | 87 | |
Non-recurring loan purchase [Member] | Consumer Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Purchase | [6],[7] | 160 | 101 | 418 | 101 | |
Recurring loan purchase [Member] | Consumer Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Purchase | [7],[8] | $ 517 | $ 545 | $ 1,433 | $ 1,568 | |
[1] | Includes debt of consolidated VIEs of $143 million and $161 million at September 30, 2019 and December 31, 2018, respectively. | |||||
[2] | Includes LHFI of consolidated VIEs of $136 million and $153 million at September 30, 2019 and December 31, 2018, respectively. | |||||
[3] | Excludes $7.1 billion and $7.2 billion of guaranteed student loans and $457 million and $459 million of guaranteed residential mortgages at September 30, 2019 and December 31, 2018 , respectively, for which there was nominal risk of principal loss due to the government guarantee. | |||||
[4] | Excludes sales of loans originated for sale and loans recorded at fair value conducted in the normal course of business. | |||||
[5] | The net gain on LHFI sales was $47 million for the nine months ended September 30, 2019 , and was immaterial for the three months ended September 30, 2019 as well as the three and nine months ended September 30, 2018 . | |||||
[6] | Purchases are episodic in nature and are conducted based on specific business strategies. | |||||
[7] | Represents UPB of loans purchased. | |||||
[8] | Purchases are routine in nature and are conducted in the normal course of business. |
Securities Available for Sale_2
Securities Available for Sale (Detail) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2018 | ||
Debt Securities, Available-for-sale [Line Items] | |||
Document Period End Date | Sep. 30, 2019 | ||
Amortized Cost | $ 30,572 | $ 31,910 | |
Unrealized Gains | 792 | 142 | |
Unrealized Losses | 6 | 610 | |
Available-for-sale Securities | [1] | 31,358 | 31,442 |
US Treasury Securities [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Amortized Cost | 3,915 | 4,277 | |
Unrealized Gains | 103 | 0 | |
Unrealized Losses | 0 | 66 | |
Available-for-sale Securities | 4,018 | 4,211 | |
US Government Agencies Debt Securities [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Amortized Cost | 123 | 221 | |
Unrealized Gains | 1 | 2 | |
Unrealized Losses | 0 | 2 | |
Available-for-sale Securities | 124 | 221 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Amortized Cost | 564 | 606 | |
Unrealized Gains | 9 | 4 | |
Unrealized Losses | 1 | 21 | |
Available-for-sale Securities | 572 | 589 | |
Other Debt Obligations [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Amortized Cost | 12 | 14 | |
Unrealized Gains | 0 | 0 | |
Unrealized Losses | 0 | 0 | |
Available-for-sale Securities | 12 | 14 | |
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Amortized Cost | 2,881 | 2,688 | |
Unrealized Gains | 103 | 8 | |
Unrealized Losses | 1 | 69 | |
Available-for-sale Securities | 2,983 | 2,627 | |
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Amortized Cost | 1,008 | 943 | |
Unrealized Gains | 56 | 0 | |
Unrealized Losses | 0 | 27 | |
Available-for-sale Securities | 1,064 | 916 | |
Residential Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Amortized Cost | 22,069 | 23,161 | |
Unrealized Gains | 520 | 128 | |
Unrealized Losses | 4 | 425 | |
Available-for-sale Securities | $ 22,585 | $ 22,864 | |
[1] | Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $151 million and $222 million at September 30, 2019 and December 31, 2018, respectively. |
Composition of the Company's Lo
Composition of the Company's Loan Portfolio (Detail) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Other Real Estate | [1] | $ 52 | $ 54 | ||
Loans held for investment | [2] | 158,455 | 151,839 | ||
Loans Held for Sale | [3] | 2,006 | 1,468 | ||
Finance Leases Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 4,000 | 4,100 | |||
Commercial and Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [4] | 73,374 | 71,137 | ||
Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 9,491 | 7,265 | |||
Commercial Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 2,142 | 2,538 | |||
Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Other Real Estate | 1 | 2 | |||
Loans held for investment | 85,007 | 80,940 | |||
Federal National Mortgage Association (FNMA) Insured Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 457 | 459 | |||
Residential Nonguaranteed [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [5],[7] | 28,810 | [6] | 28,836 | [8] |
Home Equity Line of Credit [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [7] | 8,696 | 9,468 | ||
Residential Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [7] | 144 | 184 | ||
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 7,146 | 7,229 | |||
Consumer Other Direct [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 12,431 | 10,615 | |||
Consumer Indirect [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 14,060 | 12,419 | |||
Credit Card Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 1,704 | 1,689 | |||
Consumer Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | $ 73,448 | $ 70,899 | |||
[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 $43 million and $50 million at September 30, 2019 and December 31, 2018 , respectively. | ||||
[2] | Includes LHFI of consolidated VIEs of $136 million and $153 million at September 30, 2019 and December 31, 2018, respectively. | ||||
[3] | Includes $1.5 billion and $1.2 billion measured at fair value at September 30, 2019 and December 31, 2018 , respectively. | ||||
[4] | Includes $4.0 billion and $4.1 billion of sales-type, direct financing, and leveraged leases at September 30, 2019 and December 31, 2018 , respectively. Includes $817 million and $796 million of installment loans at September 30, 2019 and December 31, 2018 , respectively. | ||||
[5] | Includes $124 million and $163 million measured at fair value at September 30, 2019 and December 31, 2018 , respectively. | ||||
[6] | I ncludes $124 million of LHFI measured at fair value, the majority of which were accruing current. | ||||
[7] | Excludes $7.1 billion and $7.2 billion of guaranteed student loans and $457 million and $459 million of guaranteed residential mortgages at September 30, 2019 and December 31, 2018 , respectively, for which there was nominal risk of principal loss due to the government guarantee. | ||||
[8] | Includes $163 million of LHFI measured at fair value, the majority of which were accruing current. |
Securities Available for Sale_3
Securities Available for Sale (Addition Information) (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | ||
Debt Securities, Available-for-sale [Line Items] | ||||||
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held | $ 0 | $ 0 | $ 0 | |||
Debt and Equity Securities, Gain (Loss) | 4 | $ 0 | (38) | $ 1 | ||
Debt Securities, Available-for-sale, Restricted | 4,000 | 4,000 | 3,300 | |||
Available-for-sale Securities | [1] | 31,358 | 31,358 | 31,442 | ||
Federal Home Loan Bank (FHLB) of Atlanta stock (par value) | [2] | 334 | 334 | 227 | ||
Federal Reserve Bank Stock | [2] | 403 | 403 | 403 | ||
Mutual Fund Investments | [2] | 66 | 66 | 79 | ||
Fair Value, Inputs, Level 3 [Member] | ||||||
Debt Securities, Available-for-sale [Line Items] | ||||||
Available-for-sale Securities | 0 | 0 | 0 | |||
Fair Value, Recurring [Member] | ||||||
Debt Securities, Available-for-sale [Line Items] | ||||||
Available-for-sale Securities | 31,358 | 31,358 | 31,442 | |||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Debt Securities, Available-for-sale [Line Items] | ||||||
Available-for-sale Securities | $ 0 | $ 0 | $ 0 | |||
[1] | Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $151 million and $222 million at September 30, 2019 and December 31, 2018, respectively. | |||||
[2] | Does not include equity securities held for trading purposes classified as Trading assets and derivative instruments or Trading liabilities and derivative instruments on the Company’s Consolidated Balance Sheets. See Note 4 , “Trading Assets and Liabilities and Derivative Instruments,” for more information. |
Composition of the Company's _2
Composition of the Company's Loan Portfolio (Additional Information) (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Other Real Estate | [1] | $ 52 | $ 52 | $ 54 | ||
Letters of Credit Outstanding, Amount | 4,200 | 4,200 | 5,800 | |||
Loans and Leases Receivable, Gross | [2] | 158,455 | 158,455 | 151,839 | ||
Loans Receivable, Fair Value Disclosure | 124 | 124 | 163 | |||
Loans and Leases Receivable, Gain (Loss) on Sales, Net | 45 | 47 | ||||
Transfer of Portfolio Loans and Leases to Held-for-sale | 812 | $ 449 | ||||
Transfer of Loans Held-for-sale to Portfolio Loans | 17 | 23 | ||||
Transfer to Other Real Estate | 33 | 44 | ||||
Consumer Indirect [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross | 14,060 | 14,060 | 12,419 | |||
Finance Leases Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross | 4,000 | 4,000 | 4,100 | |||
Installment Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross | 817 | 817 | 796 | |||
Consumer Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross | 73,448 | 73,448 | 70,899 | |||
Commercial Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Other Real Estate | 1 | 1 | 2 | |||
Loans and Leases Receivable, Gross | 85,007 | 85,007 | 80,940 | |||
Loans Receivable, Fair Value Disclosure | $ 0 | $ 0 | $ 0 | |||
Federal National Mortgage Association (FNMA) Insured Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Percentage of Loan Portfolio Current | 29.00% | 29.00% | 27.00% | |||
Loans and Leases Receivable, Gross | $ 457 | $ 457 | $ 459 | |||
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Percentage of Loan Portfolio Current | 78.00% | 78.00% | 72.00% | |||
Loans and Leases Receivable, Gross | $ 7,146 | $ 7,146 | $ 7,229 | |||
Credit Concentration Risk [Member] | Home Equity Line of Credit [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Unused Commitments to Extend Credit | 10,600 | 10,600 | 10,300 | |||
Commercial Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Sale | [3],[4] | 171 | $ 14 | 387 | 87 | |
Consumer Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Sale | [3],[4] | 0 | 0 | 432 | 100 | |
Federal Reserve Bank Advances [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans Pledged as Collateral | 33,300 | 33,300 | 28,100 | |||
Line of Credit Facility, Remaining Borrowing Capacity | 24,400 | 24,400 | 21,300 | |||
Federal Home Loan Bank Advances [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans Pledged as Collateral | 39,800 | 39,800 | 39,200 | |||
Line of Credit Facility, Remaining Borrowing Capacity | 32,500 | 32,500 | $ 31,000 | |||
Non-recurring loan purchase [Member] | Consumer Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Purchase | [5],[6] | 160 | 101 | 418 | 101 | |
Recurring loan purchase [Member] | Consumer Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable, Purchase | [6],[7] | $ 517 | $ 545 | $ 1,433 | $ 1,568 | |
[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 $43 million and $50 million at September 30, 2019 and December 31, 2018 , respectively. | |||||
[2] | Includes LHFI of consolidated VIEs of $136 million and $153 million at September 30, 2019 and December 31, 2018, respectively. | |||||
[3] | Excludes sales of loans originated for sale and loans recorded at fair value conducted in the normal course of business. | |||||
[4] | The net gain on LHFI sales was $47 million for the nine months ended September 30, 2019 , and was immaterial for the three months ended September 30, 2019 as well as the three and nine months ended September 30, 2018 . | |||||
[5] | Purchases are episodic in nature and are conducted based on specific business strategies. | |||||
[6] | Represents UPB of loans purchased. | |||||
[7] | Purchases are routine in nature and are conducted in the normal course of business. |
Interest and dividends on SAFS
Interest and dividends on SAFS (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Debt Securities, Available-for-sale [Line Items] | ||||
Interest Income, Securities, Taxable | $ 211 | $ 207 | $ 646 | $ 614 |
Interest Income, Securities, Tax Exempt | 4 | 5 | 13 | 14 |
Interest and Dividend Income, Securities, Available-for-sale | $ 215 | $ 212 | $ 659 | $ 628 |
LHFI by Credit Quality Indicato
LHFI by Credit Quality Indicator (Detail) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [1] | $ 158,455 | $ 151,839 | ||
Financing Receivable, Nonaccrual | [2] | 600 | [3] | 526 | [4] |
Commercial and Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [5] | 73,374 | 71,137 | ||
Financing Receivable, Nonaccrual | 350 | [3] | 157 | [4] | |
Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 9,491 | 7,265 | |||
Financing Receivable, Nonaccrual | 1 | [3] | 2 | [4] | |
Commercial Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 2,142 | 2,538 | |||
Financing Receivable, Nonaccrual | 0 | [3] | 0 | [4] | |
Residential Nonguaranteed [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [6],[8] | 28,810 | [7] | 28,836 | [9] |
Financing Receivable, Nonaccrual | 125 | [3],[7] | 204 | [4],[9] | |
Home Equity Line of Credit [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [8] | 8,696 | 9,468 | ||
Financing Receivable, Nonaccrual | 100 | [3] | 138 | [4] | |
Residential Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [8] | 144 | 184 | ||
Financing Receivable, Nonaccrual | 8 | [3] | 11 | [4] | |
Consumer Other Direct [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 12,431 | 10,615 | |||
Financing Receivable, Nonaccrual | 11 | [3] | 7 | [4] | |
Consumer Indirect [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 14,060 | 12,419 | |||
Financing Receivable, Nonaccrual | 5 | [3] | 7 | [4] | |
Credit Card Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 1,704 | 1,689 | |||
Financing Receivable, Nonaccrual | 0 | [3] | 0 | [4] | |
Pass | Commercial and Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 70,739 | 69,095 | |||
Pass | Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 9,410 | 7,165 | |||
Pass | Commercial Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 2,082 | 2,459 | |||
Criticized Accruing | Commercial and Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 2,285 | 1,885 | |||
Criticized Accruing | Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 80 | 98 | |||
Criticized Accruing | Commercial Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 60 | 79 | |||
FICO Score 700 and Above [Member] | Residential Nonguaranteed [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [8] | 25,985 | 25,764 | ||
FICO Score 700 and Above [Member] | Home Equity Line of Credit [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [8] | 7,406 | 8,060 | ||
FICO Score 700 and Above [Member] | Residential Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [8] | 116 | 151 | ||
FICO Score 700 and Above [Member] | Consumer Other Direct [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 10,671 | 9,296 | |||
FICO Score 700 and Above [Member] | Consumer Indirect [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 10,904 | 9,315 | |||
FICO Score 700 and Above [Member] | Credit Card Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 1,145 | 1,142 | |||
FICO Score Between 620 and 699 | Residential Nonguaranteed [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [8] | 2,219 | 2,367 | ||
FICO Score Between 620 and 699 | Home Equity Line of Credit [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [8] | 929 | 1,015 | ||
FICO Score Between 620 and 699 | Residential Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [8] | 22 | 27 | ||
FICO Score Between 620 and 699 | Consumer Other Direct [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 1,543 | 1,175 | |||
FICO Score Between 620 and 699 | Consumer Indirect [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 2,367 | 2,395 | |||
FICO Score Between 620 and 699 | Credit Card Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | 423 | 420 | |||
FICO Score Below 620 | Residential Nonguaranteed [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [8],[10] | 606 | 705 | ||
FICO Score Below 620 | Home Equity Line of Credit [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [8],[10] | 361 | 393 | ||
FICO Score Below 620 | Residential Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [8],[10] | 6 | 6 | ||
FICO Score Below 620 | Consumer Other Direct [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [10] | 217 | 144 | ||
FICO Score Below 620 | Consumer Indirect [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [10] | 789 | 709 | ||
FICO Score Below 620 | Credit Card Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans held for investment | [10] | $ 136 | $ 127 | ||
[1] | Includes LHFI of consolidated VIEs of $136 million and $153 million at September 30, 2019 and December 31, 2018, respectively. | ||||
[2] | Nonaccruing restructured LHFI are included in total nonaccrual LHFI /NPLs. | ||||
[3] | Includes nonaccruing LHFI past due 90 days or more of $306 million . Nonaccruing LHFI past due fewer than 90 days include nonaccrual LHFI modified in TDRs, performing second lien LHFI where the first lien loan is nonperforming, and certain energy-related commercial LHFI. | ||||
[4] | Includes nonaccruing LHFI past due 90 days or more of $306 million . Nonaccruing LHFI past due fewer than 90 days include nonaccrual LHFI modified in TDRs, performing second lien LHFI where the first lien loan is nonperforming, and certain energy-related commercial LHFI. | ||||
[5] | Includes $4.0 billion and $4.1 billion of sales-type, direct financing, and leveraged leases at September 30, 2019 and December 31, 2018 , respectively. Includes $817 million and $796 million of installment loans at September 30, 2019 and December 31, 2018 , respectively. | ||||
[6] | Includes $124 million and $163 million measured at fair value at September 30, 2019 and December 31, 2018 , respectively. | ||||
[7] | I ncludes $124 million of LHFI measured at fair value, the majority of which were accruing current. | ||||
[8] | Excludes $7.1 billion and $7.2 billion of guaranteed student loans and $457 million and $459 million of guaranteed residential mortgages at September 30, 2019 and December 31, 2018 , respectively, for which there was nominal risk of principal loss due to the government guarantee. | ||||
[9] | Includes $163 million of LHFI 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. |
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, 2019USD ($) | |
Distribution of Maturities: Amortized Cost, 1 Year or Less | $ 2,117 | |
Distribution of Maturities: Amortized Cost, 1-5 Years | 12,679 | |
Distribution of Maturities: Amortized Cost, 5-10 Years | 14,844 | |
Distribution of Maturities: Amortized Cost, After 10 Years | 932 | |
Distribution of Maturities: Amortized Cost, Total | 30,572 | |
Distribution of Maturities: Fair Value, 1 Year or Less | 2,169 | |
Distribution of Maturities: Fair Value, 1-5 Years | 12,999 | |
Distribution of Maturities: Fair Value, 5-10 Years | 15,233 | |
Distribution of Maturities: Fair Value, After 10 Years | 957 | |
Distribution of Maturities: Fair Value, Total | $ 31,358 | |
Available For Sale Securities Debt Maturities, Yield, One Year Or Less | 3.09% | [1] |
Available For Sale Securities Debt Maturities, Yield, After One Through Five Years | 2.81% | [1] |
Available For Sale Securities Debt Maturities, Yield, After Five Through Ten Years | 2.93% | [1] |
Available For Sale Securities Debt Maturities, Yield, After Ten Years | 3.02% | [1] |
Available For Sale Securities Debt Maturities, Yield | 2.89% | [1] |
US Treasury Securities [Member] | ||
Distribution of Maturities: Amortized Cost, 1 Year or Less | $ 632 | |
Distribution of Maturities: Amortized Cost, 1-5 Years | 2,331 | |
Distribution of Maturities: Amortized Cost, 5-10 Years | 952 | |
Distribution of Maturities: Amortized Cost, After 10 Years | 0 | |
Distribution of Maturities: Amortized Cost, Total | 3,915 | |
Distribution of Maturities: Fair Value, 1 Year or Less | 634 | |
Distribution of Maturities: Fair Value, 1-5 Years | 2,389 | |
Distribution of Maturities: Fair Value, 5-10 Years | 995 | |
Distribution of Maturities: Fair Value, After 10 Years | 0 | |
Distribution of Maturities: Fair Value, Total | 4,018 | |
US Government Agencies Debt Securities [Member] | ||
Distribution of Maturities: Amortized Cost, 1 Year or Less | 50 | |
Distribution of Maturities: Amortized Cost, 1-5 Years | 10 | |
Distribution of Maturities: Amortized Cost, 5-10 Years | 6 | |
Distribution of Maturities: Amortized Cost, After 10 Years | 57 | |
Distribution of Maturities: Amortized Cost, Total | 123 | |
Distribution of Maturities: Fair Value, 1 Year or Less | 50 | |
Distribution of Maturities: Fair Value, 1-5 Years | 10 | |
Distribution of Maturities: Fair Value, 5-10 Years | 6 | |
Distribution of Maturities: Fair Value, After 10 Years | 58 | |
Distribution of Maturities: Fair Value, Total | 124 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Distribution of Maturities: Amortized Cost, 1 Year or Less | 0 | |
Distribution of Maturities: Amortized Cost, 1-5 Years | 90 | |
Distribution of Maturities: Amortized Cost, 5-10 Years | 317 | |
Distribution of Maturities: Amortized Cost, After 10 Years | 157 | |
Distribution of Maturities: Amortized Cost, Total | 564 | |
Distribution of Maturities: Fair Value, 1 Year or Less | 0 | |
Distribution of Maturities: Fair Value, 1-5 Years | 95 | |
Distribution of Maturities: Fair Value, 5-10 Years | 320 | |
Distribution of Maturities: Fair Value, After 10 Years | 157 | |
Distribution of Maturities: Fair Value, Total | 572 | |
Other Debt Obligations [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 | 0 | |
Distribution of Maturities: Amortized Cost, After 10 Years | 0 | |
Distribution of Maturities: Amortized Cost, Total | 12 | |
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 | 0 | |
Distribution of Maturities: Fair Value, After 10 Years | 0 | |
Distribution of Maturities: Fair Value, Total | 12 | |
Residential Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Distribution of Maturities: Amortized Cost, 1 Year or Less | 1,435 | |
Distribution of Maturities: Amortized Cost, 1-5 Years | 9,389 | |
Distribution of Maturities: Amortized Cost, 5-10 Years | 10,890 | |
Distribution of Maturities: Amortized Cost, After 10 Years | 355 | |
Distribution of Maturities: Amortized Cost, Total | 22,069 | |
Distribution of Maturities: Fair Value, 1 Year or Less | 1,485 | |
Distribution of Maturities: Fair Value, 1-5 Years | 9,630 | |
Distribution of Maturities: Fair Value, 5-10 Years | 11,108 | |
Distribution of Maturities: Fair Value, After 10 Years | 362 | |
Distribution of Maturities: Fair Value, Total | 22,585 | |
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Distribution of Maturities: Amortized Cost, 1 Year or Less | 0 | |
Distribution of Maturities: Amortized Cost, 1-5 Years | 835 | |
Distribution of Maturities: Amortized Cost, 5-10 Years | 1,683 | |
Distribution of Maturities: Amortized Cost, After 10 Years | 363 | |
Distribution of Maturities: Amortized Cost, Total | 2,881 | |
Distribution of Maturities: Fair Value, 1 Year or Less | 0 | |
Distribution of Maturities: Fair Value, 1-5 Years | 851 | |
Distribution of Maturities: Fair Value, 5-10 Years | 1,752 | |
Distribution of Maturities: Fair Value, After 10 Years | 380 | |
Distribution of Maturities: Fair Value, Total | 2,983 | |
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 | 996 | |
Distribution of Maturities: Amortized Cost, After 10 Years | 0 | |
Distribution of Maturities: Amortized Cost, Total | 1,008 | |
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 | 1,052 | |
Distribution of Maturities: Fair Value, After 10 Years | 0 | |
Distribution of Maturities: Fair Value, Total | $ 1,064 | |
[1] | Weighted average yields are based on amortized cost and presented on an FTE basis. |
LHFI by Credit Quality Indica_2
LHFI by Credit Quality Indicator (Additional Information) (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2019 | Dec. 31, 2018 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Gain (Loss) on Sales, Net | $ 45 | $ 47 | ||
Loans and Leases Receivable, Gross | [1] | 158,455 | 158,455 | $ 151,839 |
Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Gross | 85,007 | 85,007 | 80,940 | |
Federal National Mortgage Association (FNMA) Insured Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Gross | 457 | 457 | 459 | |
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Gross | $ 7,146 | 7,146 | $ 7,229 | |
Real Estate Loan [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Gain (Loss) on Sales, Net | $ 44 | |||
[1] | Includes LHFI of consolidated VIEs of $136 million and $153 million at September 30, 2019 and December 31, 2018, respectively. |
Payment Status for the LHFI Por
Payment Status for the LHFI Portfolio (Detail) - USD ($) $ in Millions | 9 Months Ended | ||||
Sep. 30, 2019 | Dec. 31, 2018 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Document Period End Date | Sep. 30, 2019 | ||||
Accruing Current | $ 155,545 | $ 148,548 | |||
Accruing 30-89 Days Past Due | 917 | 1,113 | |||
Accruing 90+ Days Past Due | 1,393 | 1,652 | |||
Financing Receivable, Nonaccrual | [1] | 600 | [2] | 526 | [3] |
Total | [4] | 158,455 | 151,839 | ||
Commercial and Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 72,955 | 70,901 | |||
Accruing 30-89 Days Past Due | 55 | 64 | |||
Accruing 90+ Days Past Due | 14 | 15 | |||
Financing Receivable, Nonaccrual | 350 | [2] | 157 | [3] | |
Total | [5] | 73,374 | 71,137 | ||
Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 9,486 | 7,259 | |||
Accruing 30-89 Days Past Due | 3 | 3 | |||
Accruing 90+ Days Past Due | 1 | 1 | |||
Financing Receivable, Nonaccrual | 1 | [2] | 2 | [3] | |
Total | 9,491 | 7,265 | |||
Commercial Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 2,142 | 2,538 | |||
Accruing 30-89 Days Past Due | 0 | 0 | |||
Accruing 90+ Days Past Due | 0 | 0 | |||
Financing Receivable, Nonaccrual | 0 | [2] | 0 | [3] | |
Total | 2,142 | 2,538 | |||
Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 84,583 | 80,698 | |||
Accruing 30-89 Days Past Due | 58 | 67 | |||
Accruing 90+ Days Past Due | 15 | 16 | |||
Financing Receivable, Nonaccrual | 351 | [2] | 159 | [3] | |
Total | 85,007 | 80,940 | |||
Federal National Mortgage Association (FNMA) Insured Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 131 | 125 | |||
Accruing 30-89 Days Past Due | 25 | 39 | |||
Accruing 90+ Days Past Due | 301 | 295 | |||
Financing Receivable, Nonaccrual | 0 | [2],[6] | 0 | [3],[7] | |
Total | 457 | 459 | |||
Residential Nonguaranteed [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 28,620 | [8] | 28,552 | [9] | |
Accruing 30-89 Days Past Due | 55 | [8] | 70 | [9] | |
Accruing 90+ Days Past Due | 10 | [8] | 10 | [9] | |
Financing Receivable, Nonaccrual | 125 | [2],[8] | 204 | [3],[9] | |
Total | [10],[11] | 28,810 | [8] | 28,836 | [9] |
Home Equity Line of Credit [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 8,534 | 9,268 | |||
Accruing 30-89 Days Past Due | 61 | 62 | |||
Accruing 90+ Days Past Due | 1 | 0 | |||
Financing Receivable, Nonaccrual | 100 | [2] | 138 | [3] | |
Total | [11] | 8,696 | 9,468 | ||
Residential Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 135 | 170 | |||
Accruing 30-89 Days Past Due | 1 | 3 | |||
Accruing 90+ Days Past Due | 0 | 0 | |||
Financing Receivable, Nonaccrual | 8 | [2] | 11 | [3] | |
Total | [11] | 144 | 184 | ||
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 5,563 | 5,236 | |||
Accruing 30-89 Days Past Due | 543 | 685 | |||
Accruing 90+ Days Past Due | 1,040 | 1,308 | |||
Financing Receivable, Nonaccrual | 0 | [2],[6] | 0 | [3],[7] | |
Total | 7,146 | 7,229 | |||
Consumer Other Direct [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 12,362 | 10,559 | |||
Accruing 30-89 Days Past Due | 53 | 45 | |||
Accruing 90+ Days Past Due | 5 | 4 | |||
Financing Receivable, Nonaccrual | 11 | [2] | 7 | [3] | |
Total | 12,431 | 10,615 | |||
Consumer Indirect [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 13,951 | 12,286 | |||
Accruing 30-89 Days Past Due | 103 | 125 | |||
Accruing 90+ Days Past Due | 1 | 1 | |||
Financing Receivable, Nonaccrual | 5 | [2] | 7 | [3] | |
Total | 14,060 | 12,419 | |||
Credit Card Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 1,666 | 1,654 | |||
Accruing 30-89 Days Past Due | 18 | 17 | |||
Accruing 90+ Days Past Due | 20 | 18 | |||
Financing Receivable, Nonaccrual | 0 | [2] | 0 | [3] | |
Total | 1,704 | 1,689 | |||
Consumer Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Accruing Current | 70,962 | 67,850 | |||
Accruing 30-89 Days Past Due | 859 | 1,046 | |||
Accruing 90+ Days Past Due | 1,378 | 1,636 | |||
Financing Receivable, Nonaccrual | 249 | [2] | 367 | [3] | |
Total | $ 73,448 | $ 70,899 | |||
[1] | Nonaccruing restructured LHFI are included in total nonaccrual LHFI /NPLs. | ||||
[2] | Includes nonaccruing LHFI past due 90 days or more of $306 million . Nonaccruing LHFI past due fewer than 90 days include nonaccrual LHFI modified in TDRs, performing second lien LHFI where the first lien loan is nonperforming, and certain energy-related commercial LHFI. | ||||
[3] | Includes nonaccruing LHFI past due 90 days or more of $306 million . Nonaccruing LHFI past due fewer than 90 days include nonaccrual LHFI modified in TDRs, performing second lien LHFI where the first lien loan is nonperforming, and certain energy-related commercial LHFI. | ||||
[4] | Includes LHFI of consolidated VIEs of $136 million and $153 million at September 30, 2019 and December 31, 2018, respectively. | ||||
[5] | Includes $4.0 billion and $4.1 billion of sales-type, direct financing, and leveraged leases at September 30, 2019 and December 31, 2018 , respectively. Includes $817 million and $796 million of installment loans at September 30, 2019 and December 31, 2018 , respectively. | ||||
[6] | Guaranteed LHFI are not placed on nonaccrual status regardless of delinquency because collection of principal and interest is reasonably assured by the government. | ||||
[7] | Guaranteed LHFI are not placed on nonaccrual status regardless of delinquency because collection of principal and interest is reasonably assured by the government. | ||||
[8] | I ncludes $124 million of LHFI measured at fair value, the majority of which were accruing current. | ||||
[9] | Includes $163 million of LHFI measured at fair value, the majority of which were accruing current. | ||||
[10] | Includes $124 million and $163 million measured at fair value at September 30, 2019 and December 31, 2018 , respectively. | ||||
[11] | Excludes $7.1 billion and $7.2 billion of guaranteed student loans and $457 million and $459 million of guaranteed residential mortgages at September 30, 2019 and December 31, 2018 , respectively, for which there was nominal risk of principal loss due to the government guarantee. |
Securities with Unrealized Loss
Securities with Unrealized Losses (Detail) - USD ($) $ in Millions | 9 Months Ended | ||||
Sep. 30, 2019 | Dec. 31, 2018 | ||||
Investments, Unrealized Loss Position [Line Items] | |||||
Document Period End Date | Sep. 30, 2019 | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 1,485 | $ 1,452 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 6 | [1] | 7 | [2] | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 6 | 22,822 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | [1] | 603 | [2] | |
Total, Fair Value | 1,491 | 24,274 | |||
Total, Unrealized Losses | 6 | [1] | 610 | [2] | |
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 | [3] | 0 | [4] | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | [1],[3] | 0 | [2],[4] | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | [3] | 0 | [4] | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | [1],[3] | 0 | [2],[4] | |
Total, Fair Value | 0 | [3] | 0 | [4] | |
Total, Unrealized Losses | 0 | [1],[3] | 0 | [2],[4] | |
Temporarily Impaired Securities [Member] | |||||
Investments, Unrealized Loss Position [Line Items] | |||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 1,485 | 1,452 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 6 | [1] | 7 | [2] | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 6 | 22,822 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | [1] | 603 | [2] | |
Total, Fair Value | 1,491 | 24,274 | |||
Total, Unrealized Losses | 6 | [1] | 610 | [2] | |
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 | 50 | 0 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | [1] | 0 | [2] | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 4,177 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | [1] | 66 | [2] | |
Total, Fair Value | 50 | 4,177 | |||
Total, Unrealized Losses | 0 | [1] | 66 | [2] | |
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 | 20 | 0 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | [1] | 0 | [2] | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 63 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | [1] | 2 | [2] | |
Total, Fair Value | 20 | 63 | |||
Total, Unrealized Losses | 0 | [1] | 2 | [2] | |
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 | 119 | 49 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1 | [1] | 1 | [2] | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 430 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | [1] | 20 | [2] | |
Total, Fair Value | 119 | 479 | |||
Total, Unrealized Losses | 1 | [1] | 21 | [2] | |
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 | 0 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | [1] | 0 | [2] | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 6 | 9 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | [1] | 0 | [2] | |
Total, Fair Value | 6 | 9 | |||
Total, Unrealized Losses | 0 | [1] | 0 | [2] | |
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 | 207 | 68 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1 | [1] | 0 | [2] | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 1,986 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | [1] | 69 | [2] | |
Total, Fair Value | 207 | 2,054 | |||
Total, Unrealized Losses | 1 | [1] | 69 | [2] | |
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 | 106 | ||||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | [2] | 1 | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 773 | ||||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | [2] | 26 | |||
Total, Fair Value | 879 | ||||
Total, Unrealized Losses | [2] | 27 | |||
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 | 1,089 | 1,229 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 4 | [1] | 5 | [2] | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 15,384 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | [1] | 420 | [2] | |
Total, Fair Value | 1,089 | 16,613 | |||
Total, Unrealized Losses | $ 4 | [1] | $ 425 | [2] | |
[1] | Unrealized losses less than $0.5 million are presented as zero within the table. | ||||
[2] | Unrealized losses less than $0.5 million are presented as zero within the table. | ||||
[3] | OTTI securities AFS are impaired securities for which OTTI credit losses have been previously recognized in earnings. | ||||
[4] | OTTI securities AFS are impaired securities for which OTTI credit losses have been previously recognized in earnings. |
Gross Realized Gains and Losses
Gross Realized Gains and Losses on Sales and OTTI on Securities Available for Sale (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Available-for-sale Securities, Gross Realized Gains | $ 4 | $ 0 | $ 4 | $ 7 |
Available-for-sale Securities, Gross Realized Losses | 0 | 0 | (42) | (6) |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Period Increase (Decrease) | 0 | 0 | 0 | 0 |
Debt and Equity Securities, Gain (Loss) | $ 4 | $ 0 | $ (38) | $ 1 |
Payment Status for the LHFI P_2
Payment Status for the LHFI Portfolio (Additional Information) (Detail) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Financing Receivable, Impaired [Line Items] | ||
Loans Receivable, Fair Value Disclosure | $ 124 | $ 163 |
Nonaccruing 90 Plus Days Past Due | $ 306 | $ 306 |
LHFI Considered Impaired (Detai
LHFI Considered Impaired (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | ||
Financing Receivable, Impaired [Line Items] | ||||||
Impaired Financing Receivable, Unpaid Principal Balance | $ 2,309 | $ 2,309 | $ 2,890 | |||
Impaired Financing Receivable, Recorded Investment | [1] | 2,180 | 2,180 | 2,611 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 179 | 179 | 167 | |||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 2,193 | $ 2,780 | 2,219 | $ 2,809 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | 26 | 30 | 85 | 94 | |
Commercial and Industrial [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 48 | 48 | 132 | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 39 | 39 | 79 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 311 | 311 | 81 | |||
Impaired Financing Receivable, Recorded Investment | [1] | 300 | 300 | 70 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 71 | 71 | 13 | |||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 40 | 44 | 41 | 45 | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | [2] | 0 | 0 | 0 | 1 | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 303 | 177 | 305 | 176 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | 2 | 0 | 8 | 3 | |
Commercial Real Estate [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 0 | 0 | 10 | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 0 | 0 | 0 | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 0 | 20 | 0 | 20 | ||
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 | 0 | 21 | 0 | 22 | ||
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 | 48 | 48 | 142 | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 39 | 39 | 79 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 311 | 311 | 81 | |||
Impaired Financing Receivable, Recorded Investment | [1] | 300 | 300 | 70 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 71 | 71 | 13 | |||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 40 | 64 | 41 | 65 | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | [2] | 0 | 0 | 0 | 1 | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 303 | 198 | 305 | 198 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | 2 | 0 | 8 | 3 | |
Residential Nonguaranteed [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 354 | 354 | 501 | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 283 | 283 | 397 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 561 | 561 | 1,006 | |||
Impaired Financing Receivable, Recorded Investment | [1] | 561 | 561 | 984 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 54 | 54 | 96 | |||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 284 | 381 | 287 | 386 | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | [2] | 4 | 4 | 12 | 11 | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 562 | 1,027 | 565 | 1,031 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | 8 | 13 | 28 | 39 | |
Home Equity Line of Credit [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
Impaired Financing Receivable, Unpaid Principal Balance | 753 | 753 | 849 | |||
Impaired Financing Receivable, Recorded Investment | [1] | 721 | 721 | 799 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 41 | 41 | 44 | |||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 723 | 824 | 732 | 833 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | 8 | 9 | 25 | 27 | |
Residential Construction [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 7 | 7 | 12 | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 4 | 4 | 7 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 70 | 70 | 79 | |||
Impaired Financing Receivable, Recorded Investment | [1] | 68 | 68 | 76 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 5 | 5 | 6 | |||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 4 | 7 | 4 | 7 | ||
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 | 68 | 80 | 69 | 82 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | 1 | 1 | 3 | 4 | |
Consumer Other Direct [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
Impaired Financing Receivable, Unpaid Principal Balance | 57 | 57 | 57 | |||
Impaired Financing Receivable, Recorded Investment | [1] | 57 | 57 | 57 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 1 | 1 | 1 | |||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 58 | 57 | 58 | 58 | ||
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 | 136 | 136 | 133 | |||
Impaired Financing Receivable, Recorded Investment | [1] | 135 | 135 | 133 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 4 | 4 | 5 | |||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 139 | 134 | 147 | 141 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | 2 | 2 | 5 | 5 | |
Credit Card Receivable [Member] | ||||||
Financing Receivable, Impaired [Line Items] | ||||||
Impaired Financing Receivable, Unpaid Principal Balance | 12 | 12 | 30 | |||
Impaired Financing Receivable, Recorded Investment | [1] | 12 | 12 | 9 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 3 | 3 | 2 | |||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 12 | 8 | 11 | 8 | ||
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 | 361 | 361 | 513 | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 287 | 287 | 404 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 1,589 | 1,589 | 2,154 | |||
Impaired Financing Receivable, Recorded Investment | [1] | 1,554 | 1,554 | 2,058 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 108 | 108 | $ 154 | |||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 288 | 388 | 291 | 393 | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | [2] | 4 | 4 | 12 | 11 | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 1,562 | 2,130 | 1,582 | 2,153 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | $ 20 | $ 26 | $ 65 | $ 79 | |
[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 the three and nine months ended September 30, 2019 , cash basis interest income was immaterial and $9 million , respectively. Of the interest income recognized during the three and nine months ended September 30, 2018 , cash basis interest income was immaterial. |
LHFI Considered Impaired (Addit
LHFI Considered Impaired (Additional Information) (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | ||||||
Financing Receivable, Impaired [Line Items] | ||||||||||
Impaired Financing Receivable, Interest Income, Cash Basis Method | $ 9 | |||||||||
Loans and Leases Receivable, Gross | [1] | $ 158,455 | 158,455 | $ 151,839 | ||||||
Transfer of Loans Held-for-sale to Portfolio Loans | 17 | $ 23 | ||||||||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 41 | [2] | $ 55 | [3] | 103 | [4] | 230 | [5] | ||
Accrual Loans [Member] | ||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||
Financing Receivable, Troubled Debt Restructuring | $ 1,800 | $ 1,800 | $ 2,300 | |||||||
Percentage Of Accruing Troubled Debt Restructurings, Current | 97.00% | 97.00% | 97.00% | |||||||
Real Estate Loan [Member] | ||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||
Financing Receivable, Sale | $ 465 | |||||||||
Commercial Portfolio Segment [Member] | ||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||
Loans and Leases Receivable, Gross | $ 85,007 | 85,007 | $ 80,940 | |||||||
Consumer Other Direct [Member] | ||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||
Loans and Leases Receivable, Gross | 12,431 | 12,431 | $ 10,615 | |||||||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 3 | [2] | 2 | [3] | 10 | [4] | 6 | [5] | ||
Consumer Portfolio Segment [Member] | ||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||
Financing Receivable, Sale | [6],[7] | $ 0 | $ 0 | $ 432 | $ 100 | |||||
[1] | Includes LHFI of consolidated VIEs of $136 million and $153 million at September 30, 2019 and December 31, 2018, 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] | Excludes sales of loans originated for sale and loans recorded at fair value conducted in the normal course of business. | |||||||||
[7] | The net gain on LHFI sales was $47 million for the nine months ended September 30, 2019 , and was immaterial for the three months ended September 30, 2019 as well as the three and nine months ended September 30, 2018 . |
Rollforward of Credit Losses Re
Rollforward of Credit Losses Recognized in Earnings Related to Securities (Detail) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 | |
Debt Securities, Available-for-sale [Line Items] | |||
Available-for-sale Securities | [1] | $ 31,358 | $ 31,442 |
Ending balance | $ 0 | $ 0 | |
[1] | Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $151 million and $222 million at September 30, 2019 and December 31, 2018, respectively. |
Nonperforming Assets (Detail)
Nonperforming Assets (Detail) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 | |||
Financing Receivable, Nonaccrual | [1] | $ 600 | [2] | $ 526 | [3] |
OREO | [4] | 52 | 54 | ||
Other repossessed assets | 8 | 9 | |||
Total nonperforming assets | 661 | 589 | |||
Commercial and Industrial [Member] | |||||
Financing Receivable, Nonaccrual | 350 | [2] | 157 | [3] | |
Commercial Real Estate [Member] | |||||
Financing Receivable, Nonaccrual | 1 | [2] | 2 | [3] | |
Commercial Construction [Member] | |||||
Financing Receivable, Nonaccrual | 0 | [2] | 0 | [3] | |
Residential Nonguaranteed [Member] | |||||
Financing Receivable, Nonaccrual | 125 | [2],[5] | 204 | [3],[6] | |
Home Equity Line of Credit [Member] | |||||
Financing Receivable, Nonaccrual | 100 | [2] | 138 | [3] | |
Residential Construction [Member] | |||||
Financing Receivable, Nonaccrual | 8 | [2] | 11 | [3] | |
Consumer Other Direct [Member] | |||||
Financing Receivable, Nonaccrual | 11 | [2] | 7 | [3] | |
Consumer Indirect [Member] | |||||
Financing Receivable, Nonaccrual | $ 5 | [2] | $ 7 | [3] | |
[1] | Nonaccruing restructured LHFI are included in total nonaccrual LHFI /NPLs. | ||||
[2] | Includes nonaccruing LHFI past due 90 days or more of $306 million . Nonaccruing LHFI past due fewer than 90 days include nonaccrual LHFI modified in TDRs, performing second lien LHFI where the first lien loan is nonperforming, and certain energy-related commercial LHFI. | ||||
[3] | Includes nonaccruing LHFI past due 90 days or more of $306 million . Nonaccruing LHFI past due fewer than 90 days include nonaccrual LHFI modified in TDRs, performing second lien LHFI where the first lien loan is nonperforming, and certain energy-related commercial LHFI. | ||||
[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 $43 million and $50 million at September 30, 2019 and December 31, 2018 , respectively. | ||||
[5] | I ncludes $124 million of LHFI measured at fair value, the majority of which were accruing current. | ||||
[6] | Includes $163 million of LHFI measured at fair value, the majority of which were accruing current. |
Nonperforming Assets (Additiona
Nonperforming Assets (Additional Information) (Detail) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 | |
Other Real Estate | [1] | $ 52 | $ 54 |
Accrual Loans [Member] | |||
Mortgage Loans in Process of Foreclosure, Amount | 123 | 110 | |
Proceeds due from FHA or VA [Member] | |||
Mortgage Loans in Process of Foreclosure, Amount | 115 | 103 | |
Other Real Estate | 43 | 50 | |
Nonaccrual loans [Member] | |||
Mortgage Loans in Process of Foreclosure, Amount | 73 | 93 | |
Residential Portfolio Segment [Member] | |||
Other Real Estate | 50 | 50 | |
Commercial Portfolio Segment [Member] | |||
Other Real Estate | 1 | 2 | |
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 $43 million and $50 million at September 30, 2019 and December 31, 2018 , respectively. |
Loans TDR Modifications (Detail
Loans TDR Modifications (Details) $ in Millions | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2019USD ($)contracts | [1] | Sep. 30, 2018USD ($)contracts | [2] | Sep. 30, 2019USD ($)contracts | [3] | Sep. 30, 2018USD ($)contracts | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||||||
Financing Receivable, Restructured During Period, Number Of Contracts | contracts | 1,521 | 1,270 | 4,319 | 4,305 | [4] | ||||
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted | $ 5 | $ 5 | $ 14 | $ 23 | [4] | ||||
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted | 36 | 50 | 89 | 207 | [4] | ||||
Financing Receivable, Amount Restructured During Period | $ 41 | $ 55 | $ 103 | $ 230 | [4] | ||||
Residential Construction [Member] | |||||||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||||||
Financing Receivable, Restructured During Period, Number Of Contracts | contracts | [4] | 4 | |||||||
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted | [4] | $ 0 | |||||||
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted | [4] | 0 | |||||||
Financing Receivable, Amount Restructured During Period | [4] | $ 0 | |||||||
Credit Card [Member] | |||||||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||||||
Financing Receivable, Restructured During Period, Number Of Contracts | contracts | 537 | 345 | 1,531 | 1,079 | [4] | ||||
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted | $ 3 | $ 1 | $ 7 | $ 4 | [4] | ||||
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted | 0 | 0 | 0 | 0 | [4] | ||||
Financing Receivable, Amount Restructured During Period | $ 3 | $ 1 | $ 7 | $ 4 | [4] | ||||
Commercial and Industrial [Member] | |||||||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||||||
Financing Receivable, Restructured During Period, Number Of Contracts | contracts | 32 | 47 | 88 | 122 | [4] | ||||
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted | $ 0 | $ 0 | $ 1 | $ 0 | [4] | ||||
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted | 12 | 16 | 17 | 75 | [4] | ||||
Financing Receivable, Amount Restructured During Period | $ 12 | $ 16 | $ 18 | $ 75 | [4] | ||||
Residential Nonguaranteed [Member] | |||||||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||||||
Financing Receivable, Restructured During Period, Number Of Contracts | contracts | 30 | 48 | 88 | 267 | [4] | ||||
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted | $ 2 | $ 3 | $ 4 | $ 18 | [4] | ||||
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted | 2 | 7 | 7 | 46 | [4] | ||||
Financing Receivable, Amount Restructured During Period | $ 4 | $ 10 | $ 11 | $ 64 | [4] | ||||
Home Equity Line of Credit [Member] | |||||||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||||||
Financing Receivable, Restructured During Period, Number Of Contracts | contracts | 54 | 130 | 215 | 410 | [4] | ||||
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted | $ 0 | $ 1 | $ 2 | $ 1 | [4] | ||||
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted | 3 | 11 | 13 | 34 | [4] | ||||
Financing Receivable, Amount Restructured During Period | $ 3 | $ 12 | $ 15 | $ 35 | [4] | ||||
Consumer Other Direct [Member] | |||||||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||||||
Financing Receivable, Restructured During Period, Number Of Contracts | contracts | 234 | 141 | 642 | 469 | [4] | ||||
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted | $ 0 | $ 0 | $ 0 | $ 0 | [4] | ||||
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted | 3 | 2 | 10 | 6 | [4] | ||||
Financing Receivable, Amount Restructured During Period | $ 3 | $ 2 | $ 10 | $ 6 | [4] | ||||
Consumer Indirect [Member] | |||||||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||||||
Financing Receivable, Restructured During Period, Number Of Contracts | contracts | 634 | 559 | 1,755 | 1,954 | [4] | ||||
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted | $ 0 | $ 0 | $ 0 | $ 0 | [4] | ||||
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted | 16 | 14 | 42 | 46 | [4] | ||||
Financing Receivable, Amount Restructured During Period | $ 16 | $ 14 | $ 42 | $ 46 | [4] | ||||
[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. |
Loans Mortgages With Potential
Loans Mortgages With Potential Concentration of Credit Risk (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Gross | [1] | $ 158,455 | $ 151,839 |
Geographic Distribution, Foreign [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Gross | 1,900 | 1,800 | |
Residential Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Gross | $ 38,100 | $ 38,900 | |
Percentage of Loans Held for Investment | 24.00% | 26.00% | |
Federal National Mortgage Association (FNMA) Insured Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Gross | $ 457 | $ 459 | |
Government Guarantee Percent | 1.00% | 1.00% | |
Mortgage Loans on Real Estate [Member] | Credit Concentration Risk [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unused Commitments to Extend Credit | $ 5,700 | $ 2,700 | |
[1] | Includes LHFI of consolidated VIEs of $136 million and $153 million at September 30, 2019 and December 31, 2018, respectively. |
Activity in the Allowance for C
Activity in the Allowance for Credit Losses (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||||||||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |||||||||
Components: | ||||||||||||||||
Allowance for credit losses | $ 1,771 | $ 1,695 | $ 1,771 | $ 1,695 | ||||||||||||
Provision for loan losses | 130 | 61 | 409 | 128 | ||||||||||||
Provision for Other Credit Losses | 2 | [1] | 0 | [2] | 3 | [1] | (7) | [2] | ||||||||
Allowance for Loan and Lease Losses, Write-offs | (139) | (122) | (377) | (329) | ||||||||||||
Loan recoveries | 27 | 34 | 83 | 89 | ||||||||||||
Allowance for Loan and Lease Losses, Adjustments, Other | 0 | (31) | [3] | |||||||||||||
Loans and Leases Receivable, Allowance | 1,699 | 1,623 | 1,699 | 1,623 | $ 1,681 | $ 1,615 | $ 1,650 | $ 1,735 | ||||||||
Unfunded commitments reserve | 72 | [1] | 72 | [2] | 72 | [1] | 72 | [2] | 70 | [1] | 69 | [1] | 72 | [2] | 79 | [2] |
Commercial Portfolio Segment [Member] | ||||||||||||||||
Components: | ||||||||||||||||
Allowance for credit losses | 1,286 | 1,134 | 1,286 | 1,134 | ||||||||||||
Provision for loan losses | 42 | 36 | 208 | 37 | ||||||||||||
Provision for Other Credit Losses | 2 | [1] | 0 | [2] | 3 | [1] | (7) | [2] | ||||||||
Allowance for Loan and Lease Losses, Write-offs | (35) | (51) | (88) | (95) | ||||||||||||
Loan recoveries | 5 | 9 | 14 | 19 | ||||||||||||
Allowance for Loan and Lease Losses, Adjustments, Other | 0 | 0 | ||||||||||||||
Loans and Leases Receivable, Allowance | 1,214 | 1,062 | 1,214 | 1,062 | 1,202 | 1,080 | 1,068 | 1,101 | ||||||||
Unfunded commitments reserve | 72 | [1] | 72 | [2] | 72 | [1] | 72 | [2] | 70 | [1] | 69 | [1] | 72 | [2] | 79 | [2] |
Consumer Portfolio Segment [Member] | ||||||||||||||||
Components: | ||||||||||||||||
Allowance for credit losses | 485 | 561 | 485 | 561 | ||||||||||||
Provision for loan losses | 88 | 25 | 201 | 91 | ||||||||||||
Allowance for Loan and Lease Losses, Write-offs | (104) | (71) | (289) | (234) | ||||||||||||
Loan recoveries | 22 | 25 | 69 | 70 | ||||||||||||
Allowance for Loan and Lease Losses, Adjustments, Other | 0 | (31) | [3] | |||||||||||||
Loans and Leases Receivable, Allowance | $ 485 | $ 561 | $ 485 | $ 561 | $ 479 | $ 535 | $ 582 | $ 634 | ||||||||
[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 | |||||||||||||||
[3] | Represents the allowance for restructured loans that were transferred from LHFI to LHFS in the first quarter of 2019 and subsequently sold in the second quarter of 2019. |
Activity in the ALLL by segment
Activity in the ALLL by segment (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||||||||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||||||||||
Provision for loan losses | $ 130 | $ 61 | $ 409 | $ 128 | ||||||||||||
Allowance for Loan and Lease Losses, Write-offs | (139) | (122) | (377) | (329) | ||||||||||||
Loan recoveries | 27 | 34 | 83 | 89 | ||||||||||||
Allowance for Loan and Lease Losses, Adjustments, Other | 0 | (31) | [1] | |||||||||||||
Loans and Leases Receivable, Allowance | 1,699 | 1,623 | 1,699 | 1,623 | $ 1,681 | $ 1,615 | $ 1,650 | $ 1,735 | ||||||||
Unfunded commitments reserve | 72 | [2] | 72 | [3] | 72 | [2] | 72 | [3] | 70 | [2] | 69 | [2] | 72 | [3] | 79 | [3] |
Provision for Other Credit Losses | 2 | [2] | 0 | [3] | 3 | [2] | (7) | [3] | ||||||||
Financing Receivable, Allowance for Credit Loss | 1,771 | 1,695 | 1,771 | 1,695 | ||||||||||||
Commercial Portfolio Segment [Member] | ||||||||||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||||||||||
Provision for loan losses | 42 | 36 | 208 | 37 | ||||||||||||
Allowance for Loan and Lease Losses, Write-offs | (35) | (51) | (88) | (95) | ||||||||||||
Loan recoveries | 5 | 9 | 14 | 19 | ||||||||||||
Allowance for Loan and Lease Losses, Adjustments, Other | 0 | 0 | ||||||||||||||
Loans and Leases Receivable, Allowance | 1,214 | 1,062 | 1,214 | 1,062 | 1,202 | 1,080 | 1,068 | 1,101 | ||||||||
Unfunded commitments reserve | 72 | [2] | 72 | [3] | 72 | [2] | 72 | [3] | 70 | [2] | 69 | [2] | 72 | [3] | 79 | [3] |
Provision for Other Credit Losses | 2 | [2] | 0 | [3] | 3 | [2] | (7) | [3] | ||||||||
Financing Receivable, Allowance for Credit Loss | 1,286 | 1,134 | 1,286 | 1,134 | ||||||||||||
Consumer Portfolio Segment [Member] | ||||||||||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||||||||||
Provision for loan losses | 88 | 25 | 201 | 91 | ||||||||||||
Allowance for Loan and Lease Losses, Write-offs | (104) | (71) | (289) | (234) | ||||||||||||
Loan recoveries | 22 | 25 | 69 | 70 | ||||||||||||
Allowance for Loan and Lease Losses, Adjustments, Other | 0 | (31) | [1] | |||||||||||||
Loans and Leases Receivable, Allowance | 485 | 561 | 485 | 561 | $ 479 | $ 535 | $ 582 | $ 634 | ||||||||
Financing Receivable, Allowance for Credit Loss | $ 485 | $ 561 | $ 485 | $ 561 | ||||||||||||
[1] | Represents the allowance for restructured loans that were transferred from LHFI to LHFS in the first quarter of 2019 and subsequently sold in the second quarter of 2019. | |||||||||||||||
[2] | The unfunded commitments reserve is recorded in Other liabilities in the Consolidated Balance Sheets. | |||||||||||||||
[3] | 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, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |
Individually evaluated | $ 2,180 | $ 2,611 | |||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 179 | 167 | |||||
Collectively evaluated | 156,151 | 149,065 | |||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 1,520 | 1,448 | |||||
Total evaluated | 158,331 | 151,676 | |||||
Loans And Leases Receivable Allowance Loans Evaluated For Impairment Excluding Fair Value Loans | 1,699 | 1,615 | |||||
Loans Receivable, Fair Value Disclosure | 124 | 163 | |||||
Total | [1] | 158,455 | 151,839 | ||||
Loans and Leases Receivable, Allowance | 1,699 | $ 1,681 | 1,615 | $ 1,623 | $ 1,650 | $ 1,735 | |
Commercial Portfolio Segment [Member] | |||||||
Individually evaluated | 339 | 149 | |||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 71 | 13 | |||||
Collectively evaluated | 84,668 | 80,791 | |||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 1,143 | 1,067 | |||||
Total evaluated | 85,007 | 80,940 | |||||
Loans And Leases Receivable Allowance Loans Evaluated For Impairment Excluding Fair Value Loans | 1,214 | 1,080 | |||||
Loans Receivable, Fair Value Disclosure | 0 | 0 | |||||
Total | 85,007 | 80,940 | |||||
Loans and Leases Receivable, Allowance | 1,214 | 1,202 | 1,080 | 1,062 | 1,068 | 1,101 | |
Residential Portfolio Segment [Member] | |||||||
Total | 38,100 | 38,900 | |||||
Consumer Portfolio Segment [Member] | |||||||
Individually evaluated | 1,841 | 2,462 | |||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 108 | 154 | |||||
Collectively evaluated | 71,483 | 68,274 | |||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 377 | 381 | |||||
Total evaluated | 73,324 | 70,736 | |||||
Loans And Leases Receivable Allowance Loans Evaluated For Impairment Excluding Fair Value Loans | 485 | 535 | |||||
Total | 73,448 | 70,899 | |||||
Loans and Leases Receivable, Allowance | $ 485 | $ 479 | $ 535 | $ 561 | $ 582 | $ 634 | |
[1] | Includes LHFI of consolidated VIEs of $136 million and $153 million at September 30, 2019 and December 31, 2018, respectively. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | ||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | $ 300,875 | $ 300,875 | $ 299,181 | |||
Mortgage Servicing Rights, Fair Value [Member] | ||||||
Fees and Commissions, Mortgage Banking and Servicing | [1] | 110 | $ 108 | 331 | $ 322 | |
Principal Amount Outstanding of Loans Serviced For Third Parties | 135,029 | 135,029 | 140,801 | |||
Unpaid Principal Balance of Outstanding Underlying MSRs Purchased | 0 | 7,000 | ||||
Principal Amount Sold on Loans Serviced for Third Parties | 708 | 781 | ||||
Asset-backed Securities, Securitized Loans and Receivables [Member] | ||||||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | 141,906 | 141,906 | 146,208 | |||
Commercial Mortgage Servicing Rights [Member] | ||||||
Fees and Commissions, Mortgage Banking and Servicing | [2] | 6 | 5 | 19 | 20 | |
Principal Amount Outstanding of Loans Serviced | 40,116 | 40,116 | 34,539 | |||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | 7,391 | 7,391 | 6,399 | |||
Servicing Asset at Amortized Cost | 72 | 72 | 66 | |||
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 | 134,515 | 134,515 | 139,809 | |||
Pillar Financial [Member] | ||||||
Fees and Commissions, Mortgage Banking and Servicing | [2] | 5 | $ 3 | 13 | $ 9 | |
Principal Amount Outstanding of Loans Serviced For Third Parties | $ 32,725 | $ 32,725 | $ 28,140 | |||
[1] | Recognized in Mortgage-related income in the Consolidated Statements of Income. | |||||
[2] | 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 | Sep. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Goodwill [Line Items] | ||||
Goodwill | $ 6,331 | $ 6,331 | $ 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, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Document Period End Date | Sep. 30, 2019 | ||||
Intangible Assets, Net (Excluding Goodwill) | $ 1,648 | $ 2,140 | $ 2,062 | $ 1,791 | |
Amortization | [1] | (9) | (13) | ||
Origination of Mortgage Servicing Rights (MSRs) | 251 | 260 | |||
Servicing Assets at Fair Value, Purchased | 89 | ||||
Due to changes in inputs or assumptions | [2] | (439) | 198 | ||
Servicing Asset at Fair Value, Other Changes in Fair Value | [3] | (215) | (183) | ||
Servicing Asset at Fair Value, Disposals | (2) | (2) | |||
Finite-Lived Intangible Assets, Accumulated Amortization | (43) | (34) | |||
Intangible Assets, Gross (Excluding Goodwill) | 1,691 | 2,096 | |||
Mortgage Servicing Rights, Fair Value [Member] | |||||
Amortization | [1] | 0 | 0 | ||
Origination of Mortgage Servicing Rights (MSRs) | 237 | 250 | |||
Servicing Assets at Fair Value, Purchased | 89 | ||||
Due to changes in inputs or assumptions | [2] | (439) | 198 | ||
Servicing Asset at Fair Value, Other Changes in Fair Value | [3] | (215) | (183) | ||
Servicing Asset at Fair Value, Disposals | (2) | (2) | |||
Servicing Asset at Fair Value, Amount | 1,564 | 2,062 | 1,983 | 1,710 | |
Other Intangible Assets [Member] | |||||
Intangible Assets, Net (Excluding Goodwill) | 12 | 14 | 13 | 16 | |
Amortization | [1] | (1) | (2) | ||
Origination of Mortgage Servicing Rights (MSRs) | 0 | 0 | |||
Servicing Assets at Fair Value, Purchased | 0 | ||||
Due to changes in inputs or assumptions | [2] | 0 | 0 | ||
Servicing Asset at Fair Value, Other Changes in Fair Value | [3] | 0 | 0 | ||
Servicing Asset at Fair Value, Disposals | 0 | 0 | |||
Finite-Lived Intangible Assets, Gross | [4] | 6 | 6 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | [4] | (6) | (5) | ||
Finite-Lived Intangible Assets, Net | [4] | 0 | 1 | ||
Indefinite-lived Intangible Assets (Excluding Goodwill) | 12 | 12 | |||
Commercial Mortgage Servicing Rights [Member] | |||||
Intangible Assets, Net (Excluding Goodwill) | 72 | 64 | 66 | $ 65 | |
Amortization | [1] | (8) | (11) | ||
Origination of Mortgage Servicing Rights (MSRs) | 14 | 10 | |||
Servicing Assets at Fair Value, Purchased | 0 | ||||
Due to changes in inputs or assumptions | [2] | 0 | 0 | ||
Servicing Asset at Fair Value, Other Changes in Fair Value | [3] | 0 | 0 | ||
Servicing Asset at Fair Value, Disposals | 0 | $ 0 | |||
Finite-Lived Intangible Assets, Gross | [4] | 109 | 95 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | [4] | (37) | (29) | ||
Finite-Lived Intangible Assets, Net | [4] | 72 | 66 | ||
Fair Value, Recurring [Member] | |||||
Servicing Asset at Fair Value, Amount | $ 1,564 | ||||
Fair Value, Recurring [Member] | Mortgage Servicing Rights, Fair Value [Member] | |||||
Servicing Asset at Fair Value, Amount | $ 1,983 | ||||
[1] | Does not include expense associated with community development investments. See Note 11 , “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] | Excludes other intangible assets that are indefinite-lived, carried at fair value, or fully amortized. |
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, 2019 | Dec. 31, 2018 | |
Document Period End Date | Sep. 30, 2019 | |
Commercial Mortgage Servicing Rights [Member] | ||
Servicing Asset at Fair Value, Amount | $ 80 | $ 77 |
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 | 7.00% | 5.00% |
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 | 8 years 7 months 6 days | 8 years 1 month 6 days |
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 | $ 1,564 | $ 1,983 |
Discount rate (annual) | 3.00% | 2.00% |
Decline in fair value from 10% adverse change | $ 28 | $ 44 |
Decline in fair value from 20% adverse change | $ 56 | $ 86 |
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Prepayment Speed | 15.00% | 13.00% |
Decline in fair value from 10% adverse change | $ 95 | $ 96 |
Decline in fair value from 20% adverse change | $ 180 | $ 183 |
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Weighted Average Life | 4 years 4 months 24 days | 5 years 6 months |
Weighted-average coupon | 4.00% | 4.00% |
Other Assets, Components of Oth
Other Assets, Components of Other Assets (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 | ||
Mutual Fund Investments | [1] | $ 66 | $ 79 | |
Equity Securities, FV-NI | [1] | 10 | 16 | |
Federal Reserve Bank Stock | [1] | 403 | 403 | |
Federal Home Loan Bank Stock | [1] | 334 | 227 | |
Equity Securities without Readily Determinable Fair Value, Amount | [1] | 84 | 68 | |
Net Investment in Lease | [2] | 3,806 | ||
Operating Lease, Right-of-Use Asset | [3] | 1,110 | 0 | |
Property Subject to or Available for Operating Lease, Net | [3] | 1,090 | [4],[5] | 1,205 |
Build-to-Suit Lease Assets | 993 | 735 | ||
Bank Owned Life Insurance | 1,652 | 1,627 | ||
Accrued Investment Income Receivable | 1,106 | 1,106 | ||
Receivables from Customers | 825 | 602 | ||
Defined Benefit Plan, Funded (Unfunded) Status of Plan | 499 | 484 | ||
Prepaid Expense | 285 | 231 | ||
Other Real Estate | [6] | 52 | 54 | |
Other Assets, Miscellaneous | 489 | 432 | ||
Other Assets | 10,996 | 8,991 | ||
Tax Credit Investments [Member] | ||||
Other Assets | [7] | $ 1,998 | $ 1,722 | |
[1] | Does not include equity securities held for trading purposes classified as Trading assets and derivative instruments or Trading liabilities and derivative instruments on the Company’s Consolidated Balance Sheets. See Note 4 , “Trading Assets and Liabilities and Derivative Instruments,” for more information. | |||
[2] | Included in LHFS and LHFI on the Company's Consolidated Balance Sheets. | |||
[3] | See Note 10 , “Leases,” for additional information. | |||
[4] | Excludes owned assets subject to operating leases that are held and used by the Company and which are included in Premises, property, and equipment, net, on the Company's Consolidated Balance Sheets. | |||
[5] | Included in Other Assets on the Company's Consolidated Balance Sheets. | |||
[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 $43 million and $50 million at September 30, 2019 and December 31, 2018 , respectively. | |||
[7] | See Note 11 |
Other Assets Other Assets, Summ
Other Assets Other Assets, Summary of Net Gains/(Losses) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | ||
Equity Securities, FV-NI, Gain (Loss) | [1] | $ (6) | $ (4) | $ (3) | $ 10 |
Equity Securities without Readily Determinable Fair Value, Downward Price Adjustment, Annual Amount | 0 | 0 | 0 | 0 | |
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Annual Amount | [1] | 16 | 7 | 16 | 30 |
Equity Securities, FV-NI, Realized Gain (Loss) | 0 | 0 | 0 | 0 | |
Equity Securities [Member] | |||||
Unrealized Gain (Loss) on Securities | $ 10 | $ 3 | $ 13 | $ 40 | |
[1] | Recognized in Other noninterest income in the Company’s Consolidated Statements of Income. |
Leases Lease, Classification (D
Leases Lease, Classification (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 | |
Lessee, Lease, Description [Line Items] | |||
Operating Lease, Right-of-Use Asset | [1] | $ 1,110 | $ 0 |
Finance Lease, Right-of-Use Asset | 24 | ||
Operating and Finance Lease, Right-of-Use Asset | 1,134 | ||
Operating Lease, Liability | 1,189 | ||
Finance Lease, Liability | 26 | ||
Operating and Finance Lease Liabilities | $ 1,215 | ||
Minimum [Member] | |||
Lessee, Lease, Description [Line Items] | |||
Lessee, Operating Lease, Term of Contract | 5 years | ||
Maximum [Member] | |||
Lessee, Lease, Description [Line Items] | |||
Lessee, Operating Lease, Term of Contract | 10 years | ||
[1] | See Note 10 , “Leases,” for additional information. |
Leases Lease, Cost (Details)
Leases Lease, Cost (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended |
Sep. 30, 2019 | Sep. 30, 2019 | |
Lease, Cost [Abstract] | ||
Operating Lease, Cost | $ 49 | $ 152 |
Finance Lease, Right-of-Use Asset, Amortization | 1 | 3 |
Variable Lease, Cost | 10 | 27 |
Sublease Income | (1) | (4) |
Lease, Cost | $ 59 | $ 178 |
Leases Lease, Supplemental Info
Leases Lease, Supplemental Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended |
Sep. 30, 2019 | Sep. 30, 2019 | |
Operating Lease, Payments | $ 47 | $ 144 |
Finance Lease, Interest Payment on Liability | 1 | 1 |
Finance Lease, Principal Payments | 3 | 5 |
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | 7 | 30 |
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability | $ 0 | $ 11 |
Leases Lease, Description (Deta
Leases Lease, Description (Details) $ in Millions | Sep. 30, 2019USD ($) |
Lessee, Lease, Description [Line Items] | |
Lessee, Leases Not yet Commenced, Estimate | $ 100 |
Operating Lease, Weighted Average Remaining Lease Term | 8 years |
Finance Lease, Weighted Average Remaining Lease Term | 7 years |
Operating Lease, Weighted Average Discount Rate, Percent | 3.30% |
Finance Lease, Weighted Average Discount Rate, Percent | 6.60% |
Minimum [Member] | |
Lessee, Lease, Description [Line Items] | |
Lessee, Operating Lease, Term of Contract | 5 years |
Maximum [Member] | |
Lessee, Lease, Description [Line Items] | |
Lessee, Operating Lease, Term of Contract | 10 years |
Leases Lease, Operating and Fin
Leases Lease, Operating and Finance Lease Maturity (Details) $ in Millions | Sep. 30, 2019USD ($) |
Operating and Finance Lease Maturity [Abstract] | |
Lessee, Operating Lease, Liability, Payments, Due Next Rolling Twelve Months | $ 185 |
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Two | 194 |
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Three | 179 |
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Four | 158 |
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Five | 140 |
Lessee, Operating Lease, Liability, Payments, Due after Rolling Year Five | 518 |
Lessee, Operating Lease, Liability, Payments, Due | 1,374 |
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | (185) |
Operating Lease, Liability | 1,189 |
Finance Lease, Liability, Payments, Due in Next Rolling Twelve Months | 5 |
Finance Lease, Liability, Payments, Due in Rolling Year Two | 5 |
Finance Lease, Liability, Payments, Due in Rolling Year Three | 5 |
Finance Lease, Liability, Payments, Due in Rolling Year Four | 5 |
Finance Lease, Liability, Payments, Due in Rolling Year Five | 3 |
Finance Lease, Liability, Payments, Due in Rolling after Year Five | 11 |
Finance Lease, Liability, Payment, Due | 34 |
Finance Lease, Liability, Undiscounted Excess Amount | (8) |
Finance Lease, Liability | 26 |
Operating and Finance Lease, Liability, Payments Due in Next Rolling Twelve Months | 190 |
Operating and Finance Lease, Liability, Payments Due in Rolling Year Two | 199 |
Operating and Finance Lease, Liability, Payments Due in Rolling Year Three | 184 |
Operating and Finance Lease, Liability, Payments Due in Rolling Year Four | 163 |
Operating and Finance Lease, Liability, Payments Due in Rolling Year Five | 143 |
Operating and Finance Lease, Liability, Payments Due in Rolling After Year Five | 529 |
Operating and Finance Lease, Liability, Payments, Due | 1,408 |
Operating and Finance Lease, Liability, Undiscounted Excess Amount | (193) |
Operating and Finance Lease Liabilities | $ 1,215 |
Leases Lessor, Classification (
Leases Lessor, Classification (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Equipment Financing [Member] | |
Lessor, Lease, Description [Line Items] | |
Residual Value of Leased Asset | $ 106 |
Equipment Financing [Member] | Minimum [Member] | |
Lessor, Lease, Description [Line Items] | |
Lessor, Lease, Term of Contract | 3 years |
Lessor, Lease, Renewal Term | 1 month |
Equipment Financing [Member] | Maximum [Member] | |
Lessor, Lease, Description [Line Items] | |
Lessor, Lease, Term of Contract | 15 years |
Lessor, Lease, Renewal Term | 3 years |
Structured Real Estate [Member] | |
Lessor, Lease, Description [Line Items] | |
Residual Value of Leased Asset | $ 12 |
Structured Real Estate [Member] | Minimum [Member] | |
Lessor, Lease, Description [Line Items] | |
Lessor, Lease, Term of Contract | 15 years |
Structured Real Estate [Member] | Maximum [Member] | |
Lessor, Lease, Description [Line Items] | |
Lessor, Lease, Term of Contract | 20 years |
Lessor, Lease, Renewal Term | 20 years |
Leases Lessor, Income (Details)
Leases Lessor, Income (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended |
Sep. 30, 2019 | Sep. 30, 2019 | |
Lessor, Income [Abstract] | ||
Sales-type and Direct Financing Leases, Interest Income | $ 37 | $ 111 |
Operating Lease, Lease Income, Lease Payments | 52 | 157 |
Variable Lease, Income | 1 | 3 |
Lease Income | $ 90 | $ 271 |
Leases Lessor, Net Investment i
Leases Lessor, Net Investment in Lease (Details) $ in Millions | Sep. 30, 2019USD ($) | |
Lessor, Net Investment in Lease [Abstract] | ||
Sales-type and Direct Financing Leases, Lease Receivable | $ 3,657 | |
Sales Type and Direct Finance Lease, Unguaranteed Residual Asset | 149 | |
Net Investment in Lease | $ 3,806 | [1] |
[1] | Included in LHFS and LHFI on the Company's Consolidated Balance Sheets. |
Leases Lessor, Lease Maturity (
Leases Lessor, Lease Maturity (Details) $ in Millions | Sep. 30, 2019USD ($) | |
Lessor, Lease Maturity [Abstract] | ||
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Next Rolling Twelve Months | $ 876 | |
Sales-type and Direct Financing Leases, Lease Receivable, Lease Payments to be Received, Rolling Year Two | 746 | |
Sales-type and Direct Financing Leases, Lease Receivable, Lease Payments to be Received, Rolling Year Three | 585 | |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Rolling Year Four | 411 | |
Sales-type and Direct Financing Leases, Lease Receivable, Lease Payments to be Received, Rolling Year Five | 328 | |
Sales-type and Direct Financing Leases, Lease Receivable, Lease Payments to be Received, after Rolling Year Five | 1,256 | |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received | 4,202 | |
Lease Receivable Reconciling Items | 545 | [1] |
Sales-type and Direct Financing Leases, Lease Receivable | 3,657 | |
Lessor, Operating Lease, Payments to be Received, Next Rolling Twelve Months | 191 | |
Lessor, Operating Lease, Payments to be Received, Rolling Year Two | 155 | |
Lessor, Operating Lease, Payments to be Received, Rolling Year Three | 127 | |
Lessor, Operating Lease, Payments to be Received, Rolling Year Four | 95 | |
Lessor, Operating Lease, Payments to be Received, Rolling Year Five | 94 | |
Lessor, Operating Lease, Payments to be Received, Thereafter | 225 | |
Lessor, Operating Lease, Payments to be Received | $ 887 | |
[1] | Primarily comprised of interest and guaranteed residual assets. |
Leases Lessor, Underlying Asset
Leases Lessor, Underlying Assets Subject Operaing Leases (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2019 | Sep. 30, 2019 | Dec. 31, 2018 | ||||
Property Subject to or Available for Operating Lease [Line Items] | ||||||
Property Subject to or Available for Operating Lease, Gross | [1] | $ 1,655 | $ 1,655 | |||
Property Subject to or Available for Operating Lease, Accumulated Depreciation | [1] | (565) | (565) | |||
Property Subject to or Available for Operating Lease, Net | [2] | 1,090 | [1],[3] | 1,090 | [1],[3] | $ 1,205 |
Land and Building [Member] | ||||||
Property Subject to or Available for Operating Lease [Line Items] | ||||||
Property Subject to or Available for Operating Lease, Gross | [1],[4] | 116 | 116 | |||
Equipment [Member] | ||||||
Property Subject to or Available for Operating Lease [Line Items] | ||||||
Property Subject to or Available for Operating Lease, Gross | [1] | 1,539 | 1,539 | |||
Property Subject to Operating Lease [Member] | ||||||
Property Subject to or Available for Operating Lease [Line Items] | ||||||
Depreciation | $ 35 | $ 106 | ||||
Land and Building [Member] | Property Subject to Operating Lease [Member] | Minimum [Member] | ||||||
Property Subject to or Available for Operating Lease [Line Items] | ||||||
Property, Plant and Equipment, Useful Life | 15 years | |||||
Land and Building [Member] | Property Subject to Operating Lease [Member] | Maximum [Member] | ||||||
Property Subject to or Available for Operating Lease [Line Items] | ||||||
Property, Plant and Equipment, Useful Life | 20 years | |||||
Equipment [Member] | Property Subject to Operating Lease [Member] | Minimum [Member] | ||||||
Property Subject to or Available for Operating Lease [Line Items] | ||||||
Property, Plant and Equipment, Useful Life | 2 years | |||||
Equipment [Member] | Property Subject to Operating Lease [Member] | Maximum [Member] | ||||||
Property Subject to or Available for Operating Lease [Line Items] | ||||||
Property, Plant and Equipment, Useful Life | 30 years | |||||
[1] | Excludes owned assets subject to operating leases that are held and used by the Company and which are included in Premises, property, and equipment, net, on the Company's Consolidated Balance Sheets. | |||||
[2] | See Note 10 , “Leases,” for additional information. | |||||
[3] | Included in Other Assets on the Company's Consolidated Balance Sheets. | |||||
[4] | Includes certain land parcels subject to operating leases that have indefinite lives. |
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, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | ||
Loans and Leases Receivable, Gain (Loss) on Sales, Net | $ 45 | $ 47 | ||||
Loans and Leases Receivable, Net Amount | 156,756 | 156,756 | $ 150,224 | |||
Total liabilities | 200,879 | 200,879 | 191,263 | |||
Long-term Debt | [1] | 20,369 | 20,369 | 15,072 | ||
Debt Securities, Trading, and Equity Securities, FV-NI | [2] | 7,104 | 7,104 | 5,506 | ||
Amortization of Intangible Assets | [3] | 9 | $ 13 | |||
Variable Interest Entity, Not Primary Beneficiary [Member] | ||||||
Investment Tax Credit | 25 | $ 23 | 64 | 62 | ||
Amortization of Intangible Assets | 21 | 19 | 53 | 49 | ||
Variable Interest Entity, Primary Beneficiary [Member] | ||||||
Long-term Debt | 143 | 143 | 161 | |||
Residential Mortgage [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||||
Loans and Leases Receivable, Gain (Loss) on Sales, Net | 108 | 46 | 223 | 53 | ||
Commercial and Corporate Loans [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||||
Loans and Leases Receivable, Gain (Loss) on Sales, Net | 9 | $ 8 | 28 | $ 22 | ||
Student Loans [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||||||
Loans and Leases Receivable, Net Amount | 147 | 147 | 165 | |||
Long-term Debt | $ 143 | $ 143 | $ 161 | |||
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 | $ 2,500 | $ 2,500 | $ 2,000 | |||
Debt Securities, Trading, and Equity Securities, FV-NI | $ 2,500 | $ 2,500 | $ 2,000 | |||
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 $143 million and $161 million at September 30, 2019 and December 31, 2018, respectively. | |||||
[2] | Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,284 million and $1,442 million at September 30, 2019 and December 31, 2018, respectively. | |||||
[3] | Does not include expense associated with community development investments. See Note 11 , “Certain Transfers of Financial Assets and Variable Interest Entities,” for additional information. |
Portfolio Balances and Delinque
Portfolio Balances and Delinquency Balances Based on 90 days or more Past Due and Net Charge-Offs Related to Managed Portfolio Loans (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | ||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | $ 300,875 | $ 300,875 | $ 299,181 | |||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | 2,175 | 2,175 | 2,476 | |||
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement | 112 | $ 89 | 295 | $ 245 | ||
Commercial Portfolio Segment [Member] | ||||||
Principal Amount Outstanding of Loans Held-in-portfolio | 85,007 | 85,007 | 80,940 | |||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | 366 | 366 | 175 | |||
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement | 30 | 42 | 74 | 76 | ||
Consumer Portfolio Segment [Member] | ||||||
Principal Amount Outstanding of Loans Held-in-portfolio | 73,448 | 73,448 | 70,899 | |||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | 1,627 | 1,627 | 2,003 | |||
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement | 82 | 46 | 220 | 164 | ||
Loans and Finance Receivables [Member] | ||||||
Principal Amount Outstanding of Loans Held-in-portfolio | 158,455 | 158,455 | 151,839 | |||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | 1,993 | 1,993 | 2,178 | |||
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement | 112 | 88 | 294 | 240 | ||
Asset-backed Securities, Securitized Loans and Receivables [Member] | ||||||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | 141,906 | 141,906 | 146,208 | |||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | 121 | 121 | 146 | |||
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement | 0 | 1 | 1 | 5 | ||
Loans [Member] | ||||||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | [1] | 514 | 514 | 1,134 | ||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | [1] | 61 | 61 | 152 | ||
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] | 7,391 | 7,391 | 6,399 | ||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | [2] | 7 | 7 | 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 | 134,515 | 134,515 | 139,809 | |||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | 114 | 114 | $ 146 | |||
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement | [3] | $ 0 | $ 1 | $ 1 | $ 5 | |
[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 $212 million and $387 million of managed securitized loans at September 30, 2019 and December 31, 2018 , respectively. Net charge-off data is not reported to the Company for the remaining balance of $134.3 billion and $139.4 billion of managed securitized loans at September 30, 2019 and December 31, 2018 , respectively. |
Certain Transfers of Financia_4
Certain Transfers of Financial Assets and Variable Interest Entities Portfolio Balances and Delinquency Balances Based on 90 days or more Past Due and Net Charge-Offs Related to Managed Portfolio Loans (Additional Information) (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 | |
Statement [Line Items] | |||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | $ 300,875 | $ 299,181 | |
Asset-backed Securities, Securitized Loans and Receivables [Member] | |||
Statement [Line Items] | |||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | 141,906 | 146,208 | |
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 | 134,515 | 139,809 | |
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 | 212 | 387 | |
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 | 134,300 | 139,400 | |
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] | $ 7,391 | $ 6,399 |
[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, 2019 | Dec. 31, 2018 | |
Other Assets | $ 10,996 | $ 8,991 | |
Community Development Investments [Member] | |||
Other Assets | [1] | 1,943 | 1,636 |
Community Development Investments [Member] | Limited Partner [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | [2] | 2,379 | 2,207 |
Renewable Energy Program [Member] | |||
Other Assets | 55 | 86 | |
Renewable Energy Program [Member] | Limited Partner [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | [2] | $ 241 | $ 138 |
[1] | At September 30, 2019 and December 31, 2018 , the carrying value of community development investments excludes $67 million and $68 million of investments in funds that do not qualify for tax credits, respectively. | ||
[2] | At September 30, 2019 and December 31, 2018 , the Company's maximum exposure to loss related to community development investments includes $470 million and $422 million of loans and $593 million and $639 million of unfunded equity commitments, respectively. At September 30, 2019 and December 31, 2018 , the Company's maximum exposure to loss related to renewable energy partnerships includes $186 million and $52 million of unfunded equity commitments, respectively. |
Certain Transfers of Financia_6
Certain Transfers of Financial Assets and Variable Interest Entities Tax Credit Variable Interest Entities (Additional Information) (Details) - Variable Interest Entity, Not Primary Beneficiary [Member] - Limited Partner [Member] - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Community Development Investments [Member] | ||
Portion of Other Assets Not Qualified for Tax Credits | $ (67) | $ (68) |
Loans Issued by the Company to the Limited Partnerships | 470 | 422 |
Unfunded Equity Commitment | 593 | 639 |
Renewable Energy Program [Member] | ||
Unfunded Equity Commitment | $ 186 | $ 52 |
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, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | ||
Affordable Housing Tax Credits and Other Tax Benefits, Amount | $ 33 | $ 28 | $ 98 | $ 87 | |
Amortization Method Qualified Affordable Housing Project Investments, Amortization | 35 | 29 | 103 | 92 | |
Amortization of Intangible Assets | [1] | 9 | 13 | ||
Variable Interest Entity, Not Primary Beneficiary [Member] | |||||
Investment Tax Credit | 25 | 23 | 64 | 62 | |
Amortization of Intangible Assets | $ 21 | $ 19 | $ 53 | $ 49 | |
[1] | Does not include expense associated with community development investments. See Note 11 , “Certain Transfers of Financial Assets and Variable Interest Entities,” for additional information. |
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, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |||||
Net Income (Loss) Attributable to Parent | $ 623 | $ 752 | $ 1,891 | $ 2,117 | ||||
Dividends, Preferred Stock, Cash | (26) | [1] | (26) | [2] | (77) | [1] | (81) | [2] |
Net Income (Loss) Available to Common Stockholders, Basic | $ 597 | $ 726 | $ 1,814 | $ 2,036 | ||||
Weighted Average Number of Shares Outstanding, Basic | 443,960 | 460,252 | 443,779 | 464,804 | ||||
Weighted Average Number of Shares Outstanding, Diluted | 446,962 | 464,164 | 446,673 | 469,006 | ||||
Earnings Per Share, Diluted | $ 1.34 | $ 1.56 | $ 4.06 | $ 4.34 | ||||
Earnings Per Share, Basic | $ 1.35 | $ 1.58 | $ 4.09 | $ 4.38 | ||||
Restricted Stock Units (RSUs) [Member] | ||||||||
Dilutive securities | 2,600 | 3,000 | 2,400 | 2,800 | ||||
Warrants, options, and restricted stock [Member] | ||||||||
Dilutive securities | 400 | 900 | 500 | 1,400 | ||||
[1] | For the three months ended September 30, 2019 , dividends were $1,022.22 per share for both Series A and B Preferred Stock, $1,406.25 per share for Series F Preferred Stock, $1,262.50 per share for Series G Preferred Stock, and $1,281.25 per share for Series H Preferred Stock. For the nine months ended September 30, 2019 , dividends were $3,044.44 per share for both Series A and B Preferred Stock, $4,218.75 per share for Series F Preferred Stock, $3,787.50 per share for Series G Preferred Stock, and $3,843.75 per share for Series H Preferred Stock. | |||||||
[2] | For the three months ended September 30, 2018 , dividends were $1,022.22 per share for both Series A and B Preferred Stock, $1,406.25 per share for Series F Preferred Stock, $1,262.50 per share for Series G Preferred Stock, and $1,281.25 per share for Series H Preferred Stock. For the nine months ended September 30, 2018 , dividends were $3,044.44 per share for both Series A and B Preferred Stock, $1,468.75 per share for Series E Preferred Stock, $4,218.75 per share for Series F Preferred Stock, $3,787.50 per share for Series G Preferred Stock, and $4,285.07 per share for Series H Preferred Stock. |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Income Tax Expense (Benefit) | $ 122 | $ 95 | $ 330 | $ 412 |
Effective Income Tax Rate Reconciliation, Percent | 16.00% | 11.00% | 15.00% | 16.00% |
Other Tax Expense (Benefit) | $ (56) | $ (71) | ||
Tax benefit related to changes in the liability for UTB | 33 | |||
Excess Tax Benefit from Share-based Compensation, Financing Activities | 12 | |||
Tax benefit related to state income tax true-ups | $ 11 |
Stock-Based Compensation Expens
Stock-Based Compensation Expense Recognized in Noninterest Expense (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | ||
Restricted Stock Unit Expense | $ 30 | $ 21 | $ 84 | $ 82 | |
Performance Stock Units Expense | [1] | 3 | 10 | 28 | 36 |
Share-based Payment Arrangement, Noncash Expense | 33 | 31 | 112 | 118 | |
Share-based Payment Arrangement, Expense, Tax Benefit | [2] | $ 8 | $ 8 | $ 27 | $ 28 |
[1] | Phantom stock units are settled in cash. During the three and nine months ended September 30, 2019 , the Company paid less than $1 million and $44 million , respectively, related to these share-based liabilities. During the three and nine months ended September 30, 2018 , the Company paid $1 million and $76 million , respectively, related to these share-based liabilities. | ||||
[2] | Does not include excess tax benefits or deficiencies recognized in the Provision for income taxes in the Consolidated Statements of Income. |
Employee Benefit Plans Stock-Ba
Employee Benefit Plans Stock-Based Compensation Expense Recognized in Noninterest Expense (Additional Information) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Performance Stock Units, Cash Distributions | $ 1 | $ 1 | $ 44 | $ 76 |
Components of Net Periodic Bene
Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | ||
Pension Plan [Member] | |||||
Defined Benefit Plan, Service Cost | [1] | $ 1 | $ 1 | $ 4 | $ 4 |
Defined Benefit Plan, Interest Cost | 23 | 23 | 70 | 68 | |
Defined Benefit Plan, Expected Return (Loss) on Plan Assets | (36) | (47) | (110) | (140) | |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | 0 | 0 | 0 | 0 | |
Defined Benefit Plan, Amortization of Gain (Loss) | 6 | 6 | 18 | 17 | |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | (6) | (17) | (18) | (51) | |
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) | (1) | (2) | (4) | (5) | |
Defined Benefit Plan, Amortization of Gain (Loss) | 0 | 0 | 0 | 0 | |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | $ (2) | $ (3) | $ (7) | $ (8) | |
[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, 2019 | Dec. 31, 2018 | |
Derivative Liability, Fair Value, Gross Asset | $ 1,750 | $ 1,654 | |
Standby Letters of Credit [Member] | |||
Guarantor Obligations, Maximum Exposure, Undiscounted | 2,600 | 2,900 | |
Visa Interest [Member] | |||
Derivative Liability, Fair Value, Gross Asset | 8 | 7 | |
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] | |||
Guarantor Obligations, Maximum Exposure, Undiscounted | 1,200 | 1,000 | |
Loss Contingency Related Loans Unpaid Principal Balance | 3,900 | 3,500 | |
Loss Contingency Accrual, at Carrying Value | $ 7 | $ 5 |
Guarantees Mortgage Loans Repur
Guarantees Mortgage Loans Repurchase Reserve Rollforward (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |
Guarantees [Abstract] | ||||||||
Reserve For Mortgage Loan Repurchase Losses | $ 22 | $ 36 | $ 22 | $ 36 | $ 23 | $ 26 | $ 36 | $ 39 |
Mortgage Repurchase Reserve, Provision for Mortgage Loan Repurchase Losses | (1) | 1 | (4) | (2) | ||||
Charge Offs For Mortgage Loan Repurchase Losses | $ 0 | $ (1) | $ 0 | $ (1) |
Guarantees Repurchased Mortgage
Guarantees Repurchased Mortgage Loan (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Repurchased mortgage loans, carrying value | $ 144 | $ 199 |
Performing Financial Instruments [Member] | Loans Held-For-Investment [Member] | ||
Repurchased mortgage loans, carrying value | 135 | 183 |
Nonperforming Financing Receivable [Member] | Loans Held-For-Investment [Member] | ||
Repurchased mortgage loans, carrying value | $ 9 | $ 16 |
Derivative Financial Instrume_3
Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Derivative Liability, Fair Value, Gross Liability | $ 3,031 | $ 3,031 | $ 2,716 | ||
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | 158 | 158 | |||
Derivative Asset, Fair Value, Gross Asset | 3,878 | 3,878 | 2,631 | ||
Netted counterparty balance [Member] | |||||
Fair Value, Concentration of Risk, Derivative Instruments, Assets | 1,400 | 1,400 | 541 | ||
Derivative Asset, Fair Value of Collateral | 374 | 374 | 350 | ||
Netted counterparty balance gains [Member] | |||||
Fair Value, Concentration of Risk, Derivative Instruments, Assets | 1,800 | 1,800 | 891 | ||
Derivative liability positions containing provisions conditioned on downgrades [Member] | |||||
Derivative Liability, Fair Value, Gross Liability | 1,400 | 1,400 | $ 589 | ||
Additional Termination Event [Member] | |||||
Derivative Liability, Fair Value, Gross Liability | 1 | 1 | |||
Additional Termination Event [Member] | Maximum [Member] | |||||
Derivative Liability, Fair Value, Gross Liability | 19 | 19 | |||
Credit Support Annex [Member] | |||||
Derivative Liability, Fair Value, Gross Liability | 1,400 | 1,400 | |||
Collateral Already Posted, Aggregate Fair Value | 958 | 958 | |||
Credit Support Annex [Member] | Moody's, Baa3 Rating [Member] | |||||
Additional Collateral, Aggregate Fair Value | 1 | 1 | |||
Credit Support Annex [Member] | Moody's, Ba1 Rating [Member] | |||||
Additional Collateral, Aggregate Fair Value | 8 | $ 8 | |||
Financial Guarantee [Member] | |||||
Derivative, Average Remaining Maturity | 6 years | 5 years 10 months 24 days | |||
Credit Derivative, Maximum Exposure, Undiscounted | 281 | $ 281 | $ 217 | ||
Financial Guarantee [Member] | Minimum [Member] | |||||
Derivative, Remaining Maturity | 1 year | 1 year | |||
Financial Guarantee [Member] | Maximum [Member] | |||||
Derivative, Remaining Maturity | 11 years | 10 years | |||
Interest Rate Contract [Member] | Cash Flow Hedging [Member] | |||||
Derivative, Average Remaining Maturity | 3 years 3 months 18 days | 2 years 6 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 | $ 61 | $ (48) | $ 266 | $ (274) |
Derivative Positions (Detail)
Derivative Positions (Detail) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 | |
Derivative, Notional Amount | $ 261,398 | $ 233,052 | |
Derivative Asset, Fair Value, Gross Asset | 3,878 | 2,631 | |
Derivative Liability, Fair Value, Gross Liability | 3,031 | 2,716 | |
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 3,878 | 2,631 | |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 3,031 | 2,716 | |
Derivative, Fair Value, Amount Offset Against Collateral, Net | (1,750) | (1,654) | |
Derivative Liability, Fair Value, Gross Asset | 1,750 | 1,654 | |
Derivative Asset, Collateral, Obligation to Return Cash, Offset | (358) | (338) | |
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | (1,007) | (652) | |
Derivative Asset | [1] | 1,770 | 639 |
Derivative Liability | [2] | 274 | 410 |
Not Designated as Hedging Instrument [Member] | |||
Derivative, Notional Amount | [3] | 234,018 | 212,943 |
Derivative Asset, Fair Value, Gross Asset | [3] | 3,878 | 2,629 |
Derivative Liability, Fair Value, Gross Liability | [3] | 3,030 | 2,713 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | |||
Derivative, Notional Amount | [3] | 11,954 | 9,824 |
Derivative Asset, Fair Value, Gross Asset | [3] | 185 | 129 |
Derivative Liability, Fair Value, Gross Liability | [3] | 182 | 119 |
Not Designated as Hedging Instrument [Member] | Equity Contract [Member] | |||
Derivative, Notional Amount | [3],[4] | 36,181 | 34,471 |
Derivative Asset, Fair Value, Gross Asset | [3],[4] | 1,774 | 1,447 |
Derivative Liability, Fair Value, Gross Liability | [3],[4] | 1,939 | 1,644 |
Not Designated as Hedging Instrument [Member] | Other Contract [Member] | |||
Derivative, Notional Amount | [3],[5] | 3,763 | 1,393 |
Derivative Asset, Fair Value, Gross Asset | [3],[5] | 28 | 20 |
Derivative Liability, Fair Value, Gross Liability | [3],[5] | 11 | 15 |
Not Designated as Hedging Instrument [Member] | Commodity [Member] | |||
Derivative, Notional Amount | [3] | 2,491 | 2,020 |
Derivative Asset, Fair Value, Gross Asset | [3] | 94 | 93 |
Derivative Liability, Fair Value, Gross Liability | [3] | 91 | 91 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Mortgage Servicing Rights [Member] | |||
Derivative, Notional Amount | [3],[6] | 19,300 | 28,011 |
Derivative Asset, Fair Value, Gross Asset | [3],[6] | 43 | 54 |
Derivative Liability, Fair Value, Gross Liability | [3],[6] | 24 | 10 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Loans Held-For-Sale [Member] | |||
Derivative, Notional Amount | [3],[7] | 6,688 | 4,891 |
Derivative Asset, Fair Value, Gross Asset | [3],[7] | 10 | 18 |
Derivative Liability, Fair Value, Gross Liability | [3],[7] | 12 | 38 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Loans Held-For-Investment [Member] | |||
Derivative, Notional Amount | [3] | 102 | 159 |
Derivative Asset, Fair Value, Gross Asset | [3] | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | [3] | 0 | 0 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Other Trading [Member] | |||
Derivative, Notional Amount | [3],[4] | 147,485 | 127,286 |
Derivative Asset, Fair Value, Gross Asset | [3],[4] | 1,706 | 771 |
Derivative Liability, Fair Value, Gross Liability | [3],[4] | 709 | 687 |
Not Designated as Hedging Instrument [Member] | Credit Risk Contract [Member] | Loans Held-For-Investment [Member] | |||
Derivative, Notional Amount | [3] | 918 | 830 |
Derivative Asset, Fair Value, Gross Asset | [3] | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | [3] | 28 | 14 |
Not Designated as Hedging Instrument [Member] | Credit Risk Contract [Member] | Other Trading [Member] | |||
Derivative, Notional Amount | [3],[8] | 5,136 | 4,058 |
Derivative Asset, Fair Value, Gross Asset | [3],[8] | 38 | 97 |
Derivative Liability, Fair Value, Gross Liability | [3],[8] | 34 | 95 |
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | |||
Derivative, Notional Amount | [9] | 15,225 | 10,500 |
Derivative Asset, Fair Value, Gross Asset | [9] | 0 | 1 |
Derivative Liability, Fair Value, Gross Liability | [9] | 1 | 2 |
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Loans Held-For-Investment [Member] | |||
Derivative, Notional Amount | [9] | 15,225 | 10,500 |
Derivative Asset, Fair Value, Gross Asset | [9] | 0 | 1 |
Derivative Liability, Fair Value, Gross Liability | [9] | 1 | 2 |
Fair Value Hedging [Member] | Interest Rate Contract [Member] | |||
Derivative, Notional Amount | [10] | 12,155 | 9,609 |
Derivative Asset, Fair Value, Gross Asset | [10] | 0 | 1 |
Derivative Liability, Fair Value, Gross Liability | [10] | 0 | 1 |
Fair Value Hedging [Member] | Interest Rate Contract [Member] | Fixed Income Interest Rate [Member] | |||
Derivative, Notional Amount | [10] | 12,155 | 9,550 |
Derivative Asset, Fair Value, Gross Asset | [10] | 0 | 1 |
Derivative Liability, Fair Value, Gross Liability | [10] | 0 | 1 |
Fair Value Hedging [Member] | Interest Rate Contract [Member] | Brokered Time Deposits [Member] | |||
Derivative, Notional Amount | [10] | 0 | 59 |
Derivative Asset, Fair Value, Gross Asset | [10] | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | [10] | $ 0 | $ 0 |
[1] | At September 30, 2019 , $1.8 billion , net of $358 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2018 , $639 million , net of $338 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. | ||
[2] | At September 30, 2019 , $274 million , net of $1.0 billion offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2018 , $410 million , net of $652 million 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 $2.7 billion and $1.2 billion related to interest rate futures at September 30, 2019 and December 31, 2018 , and $210 million and $136 million related to equity futures at September 30, 2019 and December 31, 2018 , 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 related to the Visa derivative liability at both September 30, 2019 and December 31, 2018 . See Note 15 , "Gua rantees" for additional information. | ||
[6] | Notional amounts include $753 million and $921 million related to interest rate futures at September 30, 2019 and December 31, 2018 , 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 $53 million and $116 million related to interest rate futures at September 30, 2019 and December 31, 2018 , 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 $9 million and $6 million from purchased credit risk participation agreements at September 30, 2019 and December 31, 2018 , and $41 million and $33 million from written credit risk participation agreements at September 30, 2019 and December 31, 2018 , respectively. These notional amounts are calculated as the notional of the derivative participated adjusted by the relevant RWA conversion factor. | ||
[9] | See “Cash Flow Hedging” in this Note for further discussion. | ||
[10] | See “Fair Value Hedging” in this Note for further discussion. |
Derivative Positions (Additiona
Derivative Positions (Additional Information) (Detail) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Derivative, Notional Amount | $ 261,398 | $ 233,052 |
Credit Risk Contract [Member] | ||
Derivative Asset, Notional Amount | 9 | 6 |
Derivative Liability, Notional Amount | 41 | 33 |
Other Contract [Member] | Visa Interest [Member] | ||
Derivative Liability, Notional Amount | 41 | 41 |
Interest rate futures [Member] | Mortgage Servicing Rights [Member] | ||
Derivative, Notional Amount | 753 | 921 |
Interest rate futures [Member] | Loans Held-For-Sale [Member] | ||
Derivative, Notional Amount | 53 | 116 |
Interest rate futures [Member] | Other Trading [Member] | ||
Derivative, Notional Amount | 2,700 | 1,200 |
Equity Futures [Member] | Equity Contract [Member] | ||
Derivative, Notional Amount | $ 210 | $ 136 |
Derivative Financial Instrume_4
Derivative Financial Instruments Netting of Financial Instruments - Derivatives (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2019 | Dec. 31, 2018 | ||
Derivative [Line Items] | |||
Document Period End Date | Sep. 30, 2019 | ||
Derivative Asset, Fair Value, Gross Asset | $ 3,878 | $ 2,631 | |
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 3,878 | 2,631 | |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | 2,108 | 1,992 | |
Derivative Asset | [1] | 1,770 | 639 |
Derivative, Collateral, Obligation to Return Securities | 16 | 12 | |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 1,754 | 627 | |
Derivative Liability, Fair Value, Gross Liability | 3,031 | 2,716 | |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 3,031 | 2,716 | |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | 2,757 | 2,306 | |
Derivative Liability | [2] | 274 | 410 |
Derivative, Collateral, Right to Reclaim Securities | 31 | 14 | |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 243 | 396 | |
Derivatives Subject to Master Netting Arrangement or Similar Arrangement [Member] | |||
Derivative [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | 3,269 | 2,425 | |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | 1,973 | 1,873 | |
Derivative Asset | 1,296 | 552 | |
Derivative, Collateral, Obligation to Return Securities | 15 | 12 | |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 1,281 | 540 | |
Derivative Liability, Fair Value, Gross Liability | 2,787 | 2,521 | |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | 2,622 | 2,187 | |
Derivative Liability | 165 | 334 | |
Derivative, Collateral, Right to Reclaim Securities | 18 | 14 | |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 147 | 320 | |
Derivatives Not Subject to Master Netting Arrangement or Similar Arrangement [Member] [Member] | |||
Derivative [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | 143 | 20 | |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | 0 | 0 | |
Derivative Asset | 143 | 20 | |
Derivative, Collateral, Obligation to Return Securities | 1 | 0 | |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 142 | 20 | |
Derivative Liability, Fair Value, Gross Liability | 109 | 76 | |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | 0 | 0 | |
Derivative Liability | 109 | 76 | |
Derivative, Collateral, Right to Reclaim Securities | 13 | 0 | |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 96 | 76 | |
Exchange Traded [Member] | |||
Derivative [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | 466 | 186 | |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | 135 | 119 | |
Derivative Asset | 331 | 67 | |
Derivative, Collateral, Obligation to Return Securities | 0 | 0 | |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 331 | 67 | |
Derivative Liability, Fair Value, Gross Liability | 135 | 119 | |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | 135 | 119 | |
Derivative Liability | 0 | 0 | |
Derivative, Collateral, Right to Reclaim Securities | 0 | 0 | |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | $ 0 | $ 0 | |
[1] | At September 30, 2019 , $1.8 billion , net of $358 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2018 , $639 million , net of $338 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. | ||
[2] | At September 30, 2019 , $274 million , net of $1.0 billion offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2018 , $410 million , net of $652 million offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. |
Derivative Financial Instrume_5
Derivative Financial Instruments Netting of Financial Instruments - Derivatives (Additional Information) (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2019 | Dec. 31, 2018 | ||
Derivative [Line Items] | |||
Document Period End Date | Sep. 30, 2019 | ||
Derivative Asset | [1] | $ 1,770 | $ 639 |
Derivative Asset, Collateral, Obligation to Return Cash, Offset | 358 | 338 | |
Derivative Liability | [2] | 274 | 410 |
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | (1,007) | (652) | |
Trading Assets [Member] | |||
Derivative [Line Items] | |||
Derivative Asset | 1,800 | 639 | |
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | (1,000) | ||
Trading Liabilities [Member] | |||
Derivative [Line Items] | |||
Derivative Liability | $ 274 | $ 410 | |
[1] | At September 30, 2019 , $1.8 billion , net of $358 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2018 , $639 million , net of $338 million offsetting cash collateral, is recognized in Trading assets and derivative instruments within the Company's Consolidated Balance Sheets. | ||
[2] | At September 30, 2019 , $274 million , net of $1.0 billion offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2018 , $410 million , net of $652 million offsetting cash collateral, is recognized in Trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. |
Derivative Financial Instrume_6
Derivative Financial Instruments Derivative Instruments, Gain (Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | ||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Interest and Fee Income, Loans and Leases Held-in-portfolio | $ 1,708 | $ 1,549 | $ 5,125 | $ 4,424 | |
Interest Expense, Long-term Debt | (150) | (95) | (425) | (252) | |
Interest Expense, Deposits | (293) | (193) | (811) | (484) | |
Trading Gain (Loss) | 29 | 42 | 144 | 137 | |
Total Amounts of Line Items Presented in the Consolidated Statements of Income | 1,558 | 1,454 | 4,700 | 4,172 | |
Loans Held-For-Investment [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Interest and Fee Income, Loans and Leases Held-in-portfolio | 1,708 | 1,549 | 5,125 | 4,424 | |
Long-term Debt [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Interest Expense, Long-term Debt | (150) | (95) | (425) | (252) | |
Fair Value Hedging [Member] | Interest Rate Contract [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Amounts Related to Interest Settlements on Derivatives | (1) | (2) | (10) | 1 | |
Derivative, Gain (Loss) on Derivative, Net | 43 | (33) | 267 | (130) | |
Gain (Loss) on Fair Value Hedges Recognized in Earnings | (47) | 31 | (282) | 124 | |
Net Income (Expense) Recognized on Hedges | (5) | (4) | (25) | (7) | |
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 | (1) | (2) | (10) | 1 | |
Derivative, Gain (Loss) on Derivative, Net | 43 | (33) | 267 | (130) | |
Gain (Loss) on Fair Value Hedges Recognized in Earnings | [1] | (47) | 31 | (282) | 124 |
Net Income (Expense) Recognized on Hedges | (5) | (4) | (25) | (7) | |
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 | (46) | (22) | (129) | (39) | |
Net Income (Expense) Recognized on Hedges | (46) | (22) | (129) | (39) | |
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 | [2] | (46) | (22) | (129) | (39) |
Net Income (Expense) Recognized on Hedges | (46) | (22) | (129) | (39) | |
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 | |
[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. |
Derivative Financial Instrume_7
Derivative Financial Instruments Hedged Items in Fair Value Hedging Relationships (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Dec. 31, 2018 | |
Hedged Items in Fair Value Hedging Relationships [Line Items] | ||
Document Period End Date | Sep. 30, 2019 | |
Fair Value Hedging [Member] | Long-term Debt [Member] | ||
Hedged Items in Fair Value Hedging Relationships [Line Items] | ||
Carrying Amount of Assets | $ 11,295,000,000 | $ 8,411,000,000 |
Fair Value Hedging [Member] | Long-term Debt [Member] | Designated as Hedging Instrument [Member] | ||
Hedged Items in Fair Value Hedging Relationships [Line Items] | ||
Hedged Asset, Cumulative Basis Adjustment | 180,000,000 | (10,000,000) |
Fair Value Hedging [Member] | Long-term Debt [Member] | Not Designated as Hedging Instrument [Member] | ||
Hedged Items in Fair Value Hedging Relationships [Line Items] | ||
Hedged Asset, Cumulative Basis Adjustment | $ (28,000,000) | (120,000,000) |
Fair Value Hedging [Member] | Brokered Time Deposits [Member] | ||
Hedged Items in Fair Value Hedging Relationships [Line Items] | ||
Carrying Amount of Assets | 29,000,000 | |
Fair Value Hedging [Member] | Brokered Time Deposits [Member] | Designated as Hedging Instrument [Member] | ||
Hedged Items in Fair Value Hedging Relationships [Line Items] | ||
Hedged Asset, Cumulative Basis Adjustment | 0 | |
Fair Value Hedging [Member] | 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_8
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, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Derivative Instruments not Designated as Hedging Instruments, Gain (Loss) [Line Items] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 245 | $ 9 | $ 608 | $ 5 |
Interest Rate Contract [Member] | Mortgage Related 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 | 166 | (54) | 436 | (210) |
Interest Rate Contract [Member] | Mortgage Related 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 | (31) | 10 | (76) | 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) | 1 | (4) | 3 |
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 | 1 | 18 | 22 | 48 |
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 | 39 | 9 | 46 | 49 |
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 | (1) | (5) | (16) | (5) |
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 | 7 | 5 | 20 | 16 |
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 | 6 | 34 | 8 |
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 | 1 | 0 | 2 | 0 |
Other Contract [Member] | Mortgage Related 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 | $ 58 | $ 19 | $ 144 | $ 39 |
Derivative Financial Instrume_9
Derivative Financial Instruments Credit Derivative Instruments - TRS Contracts (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Credit Derivative Instruments - TRS Contracts [Line Items] | ||
Derivative, Notional Amount | $ 261,398 | $ 233,052 |
Derivative Asset, Fair Value, Gross Asset | 3,878 | 2,631 |
Derivative Liability, Fair Value, Gross Liability | 3,031 | 2,716 |
Total Return Swap [Member] | ||
Credit Derivative Instruments - TRS Contracts [Line Items] | ||
Derivative, Notional Amount | 2,543 | 2,009 |
Derivative Asset, Fair Value, Gross Asset | 38 | 97 |
Derivative Liability, Fair Value, Gross Liability | 34 | 94 |
Collateral Already Posted, Aggregate Fair Value | $ 635 | $ 601 |
Fair Value Measurement and Elec
Fair Value Measurement and Election - Additional Information (Detail) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Unfunded loan commitments and letters of credit | $ 76,200 | $ 72,000 |
Allowance for unfunded loan commitments and letters of credit | $ 76 | $ 72 |
Assets and Liabilities Measured
Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | [1] | $ 7,104 | $ 5,506 | ||
Available-for-sale Securities | [2] | 31,358 | 31,442 | ||
Loans Receivable, Fair Value Disclosure | 124 | 163 | |||
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 | 764 | 521 | |||
Available-for-sale Securities | 4,018 | 4,211 | |||
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 | |||
Loans Receivable, Fair Value Disclosure | 0 | 0 | |||
Other Assets, Fair Value Disclosure | [3] | 76 | 95 | ||
Trading Liabilities, Fair Value Disclosure | 693 | 925 | |||
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 | 6,313 | 4,965 | |||
Available-for-sale Securities | 27,340 | 27,231 | |||
Loans Held-for-sale, Fair Value Disclosure | 1,488 | 1,178 | |||
Loans Receivable, Fair Value Disclosure | 0 | 0 | |||
Other Assets, Fair Value Disclosure | 0 | 0 | |||
Trading Liabilities, Fair Value Disclosure | 677 | 672 | |||
Long-term Debt, Fair Value | 302 | 289 | |||
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 | 27 | 20 | |||
Available-for-sale Securities | 0 | 0 | |||
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 | |||
Loans Receivable, Fair Value Disclosure | 124 | 163 | |||
Other Assets, Fair Value Disclosure | 0 | 0 | |||
Trading Liabilities, Fair Value Disclosure | 10 | 7 | |||
Long-term Debt, Fair Value | 0 | 0 | |||
Fair Value, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 7,104 | 5,506 | |||
Available-for-sale Securities | 31,358 | 31,442 | |||
Loans Held-for-sale, Fair Value Disclosure | 1,488 | 1,200 | |||
Loans Receivable, Fair Value Disclosure | 124 | 163 | |||
Servicing Asset at Fair Value, Amount | 1,564 | ||||
Other Assets, Fair Value Disclosure | 76 | 95 | |||
Trading Liabilities, Fair Value Disclosure | 1,380 | 1,604 | |||
Long-term Debt, Fair Value | 302 | 289 | |||
Fair Value, 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 | 764 | 521 | |||
Available-for-sale Securities | 4,018 | 4,211 | |||
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 | 76 | 95 | |||
Trading Liabilities, Fair Value Disclosure | 693 | 925 | |||
Long-term Debt, Fair Value | 0 | 0 | |||
Fair Value, 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 | 8,421 | 6,957 | |||
Available-for-sale Securities | 27,340 | 27,231 | |||
Loans Held-for-sale, Fair Value Disclosure | 1,488 | 1,178 | |||
Loans Receivable, Fair Value Disclosure | 0 | 0 | |||
Servicing Asset at Fair Value, Amount | 0 | 0 | |||
Other Assets, Fair Value Disclosure | 0 | 0 | |||
Trading Liabilities, Fair Value Disclosure | 3,434 | 2,978 | |||
Long-term Debt, Fair Value | 302 | 289 | |||
Fair Value, 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 | 27 | 20 | |||
Available-for-sale Securities | 0 | 0 | |||
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 | |||
Loans Receivable, Fair Value Disclosure | 124 | 163 | |||
Servicing Asset at Fair Value, Amount | 1,564 | 1,983 | |||
Other Assets, Fair Value Disclosure | 0 | 0 | |||
Trading Liabilities, Fair Value Disclosure | 10 | 7 | |||
Long-term Debt, Fair Value | 0 | 0 | |||
US Treasury Securities [Member] | Fair Value, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 212 | 262 | |||
Available-for-sale Securities | 4,018 | 4,211 | |||
Trading Liabilities, Fair Value Disclosure | 538 | 801 | |||
US Treasury Securities [Member] | Fair Value, 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 | 212 | 262 | |||
Available-for-sale Securities | 4,018 | 4,211 | |||
Trading Liabilities, Fair Value Disclosure | 538 | 801 | |||
US Treasury Securities [Member] | Fair Value, 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, 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 | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading Liabilities, Fair Value Disclosure | 3 | ||||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, 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 | 0 | ||||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, 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 | ||||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, 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 | 0 | ||||
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 319 | 188 | |||
Available-for-sale Securities | 124 | 221 | |||
US Government Agencies Debt Securities [Member] | Fair Value, 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, 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 | 319 | 188 | |||
Available-for-sale Securities | 124 | 221 | |||
US Government Agencies Debt Securities [Member] | Fair Value, 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, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 43 | 54 | |||
Available-for-sale Securities | 572 | 589 | |||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, 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, 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 | 43 | 54 | |||
Available-for-sale Securities | 572 | 589 | |||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, 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, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 628 | 700 | |||
Available-for-sale Securities | 12 | 14 | |||
Trading Liabilities, Fair Value Disclosure | 539 | 385 | |||
Other Debt Obligations [Member] | Fair Value, 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, 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 | 628 | 700 | |||
Available-for-sale Securities | 12 | 14 | |||
Trading Liabilities, Fair Value Disclosure | 539 | 385 | |||
Other Debt Obligations [Member] | Fair Value, 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 | |||
Commercial Paper [Member] | Fair Value, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 122 | 190 | |||
Commercial Paper [Member] | Fair Value, 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, 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 | 122 | 190 | |||
Commercial Paper [Member] | Fair Value, 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, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 86 | 73 | |||
Trading Liabilities, Fair Value Disclosure | 20 | 5 | |||
Equity Securities [Member] | Fair Value, 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 | 86 | 73 | |||
Trading Liabilities, Fair Value Disclosure | 20 | 5 | |||
Equity Securities [Member] | Fair Value, 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, 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, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 1,770 | 639 | |||
Derivative Financial Instruments, Assets [Member] | Fair Value, 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 | 466 | 186 | |||
Derivative Financial Instruments, Assets [Member] | Fair Value, 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 | 3,385 | 2,425 | |||
Derivative Financial Instruments, Assets [Member] | Fair Value, 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 | 27 | 20 | |||
Trading Loans [Member] | Fair Value, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 2,862 | [4] | 2,540 | [5] | |
Trading Liabilities, Fair Value Disclosure | 9 | ||||
Trading Loans [Member] | Fair Value, 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 Liabilities, Fair Value Disclosure | 0 | ||||
Trading Loans [Member] | Fair Value, 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 | 2,862 | [4] | 2,540 | [5] | |
Trading Liabilities, Fair Value Disclosure | 9 | ||||
Trading Loans [Member] | Fair Value, 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 | ||||
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading Liabilities, Fair Value Disclosure | 274 | 410 | |||
Derivative Financial Instruments, Liabilities [Member] | Fair Value, 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 | 135 | 119 | |||
Derivative Financial Instruments, Liabilities [Member] | Fair Value, 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 | 2,886 | 2,590 | |||
Derivative Financial Instruments, Liabilities [Member] | Fair Value, 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 | 10 | 7 | |||
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 | 552 | 403 | |||
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, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Deposits, Fair Value Disclosure | 552 | 403 | |||
Brokered Time Deposits [Member] | Fair Value, 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, 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 | 552 | 403 | |||
Brokered Time Deposits [Member] | Fair Value, 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 | |||
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 | (2,108) | [6] | (1,992) | [7] | |
Trading Liabilities, Fair Value Disclosure | (2,757) | [6] | (2,306) | [7] | |
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 | (2,108) | [6] | (1,992) | [7] | |
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 | (2,757) | [6] | (2,306) | [7] | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 860 | ||||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, 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 | ||||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, 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 | 860 | ||||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, 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 | ||||
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 | 22,585 | 22,864 | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 1,004 | 860 | |||
Available-for-sale Securities | 22,585 | 22,864 | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, 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 | ||||
Available-for-sale Securities | 0 | 0 | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, 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 | 1,004 | ||||
Available-for-sale Securities | 22,585 | 22,864 | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, 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 | ||||
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 | 2,983 | 2,627 | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Debt Securities, Trading, and Equity Securities, FV-NI | 51 | 0 | |||
Available-for-sale Securities | 2,983 | 2,627 | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, 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 | ||||
Available-for-sale Securities | 0 | 0 | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, 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 | 51 | ||||
Available-for-sale Securities | 2,983 | 2,627 | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, 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 | ||||
Available-for-sale Securities | 0 | 0 | |||
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 | 1,064 | 916 | |||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale Securities | 1,064 | 916 | |||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, 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, 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 | 1,064 | 916 | |||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, 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 | |||
[1] | Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,284 million and $1,442 million at September 30, 2019 and December 31, 2018, respectively. | ||||
[2] | Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $151 million and $222 million at September 30, 2019 and December 31, 2018, respectively. | ||||
[3] | Other financial assets recorded at amortized cost consist of FHLB | ||||
[4] | At September 30, 2019 , includes $2.5 billion of loans related to the Company’s TRS business, $70 million of loans related to the Company’s loan sales and trading business held in inventory, and $227 million of loans backed by the SBA held in inventory. | ||||
[5] | At December 31, 2018 , includes $2.0 billion of loans related to the Company’s TRS business, $137 million of loans related to the Company’s loan sales and trading business held in inventory, and $366 million of loans backed by the SBA loans held in inventory, measured at fair value. | ||||
[6] | Amounts represent offsetting cash collateral received from, and paid to, the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. See Note 16 , “Derivative Financial Instruments,” for additional information. | ||||
[7] | Amounts represent offsetting cash collateral received from, and paid to, the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. See Note 16 , “Derivative Financial Instruments,” for additional information. |
Assets and Liabilities Measur_2
Assets and Liabilities Measured at Fair Value on a Recurring Basis (Additional Information) (Detail) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 | |
Debt Securities, Trading, and Equity Securities, FV-NI | [1] | $ 7,104 | $ 5,506 |
Fair Value, Inputs, Level 2 [Member] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 6,313 | 4,965 | |
Total Return Swap [Member] | Trading Loans [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 2,500 | 2,000 | |
Commercial and Corporate Leveraged Loans [Member] | Trading Loans [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 70 | 137 | |
SBA Loans [Member] | Trading Loans [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | $ 227 | $ 366 | |
[1] | Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,284 million and $1,442 million at September 30, 2019 and December 31, 2018, respectively. |
Fair Value Option Elected, Diff
Fair Value Option Elected, Difference Between the Aggregate Fair Value and the Aggregate Unpaid Principal Balance (Detail) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 | |
Debt Securities, Trading, and Equity Securities, FV-NI | [1] | $ 7,104 | $ 5,506 |
Loans Receivable, Fair Value Disclosure | 124 | 163 | |
Trading Loans [Member] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 2,862 | 2,540 | |
Aggregate Unpaid Principal Balance Under the Fair Value Option | (2,779) | (2,526) | |
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables | 83 | 14 | |
Trading Liabilities, Fair Value Disclosure | 9 | ||
Aggregate Unpaid Principal Balance Under the Fair Value Option, Liabilities | 9 | ||
Fair Value Option, Aggregate Differences, Liabilities | 0 | ||
Loans Held-For-Sale [Member] | Performing Financial Instruments [Member] | |||
Loans Held-for-sale, Fair Value Disclosure | 1,488 | 1,178 | |
Aggregate Unpaid Principal Balance Under the Fair Value Option | (1,446) | (1,128) | |
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables | 42 | 50 | |
Loans Held-For-Investment [Member] | Performing Financial Instruments [Member] | |||
Loans Receivable, Fair Value Disclosure | 121 | 158 | |
Aggregate Unpaid Principal Balance Under the Fair Value Option | (119) | (163) | |
Fair Value, Option, Loans Held as Assets, Aggregate Difference | 2 | (5) | |
Loans Held-For-Investment [Member] | Nonperforming Financing Receivable [Member] | |||
Loans Receivable, Fair Value Disclosure | 3 | 5 | |
Aggregate Unpaid Principal Balance Under the Fair Value Option | (4) | (6) | |
Fair Value, Option, Loans Held as Assets, Aggregate Amount in Nonaccrual Status, Aggregated Difference | (1) | (1) | |
Brokered Time Deposits [Member] | |||
Obligations, Fair Value Disclosure | 552 | 403 | |
Aggregate Unpaid Principal Balance Under the Fair Value Option, Liabilities | 539 | 403 | |
Fair Value Option, Aggregate Differences, Liabilities | 13 | 0 | |
Long-term Debt [Member] | |||
Obligations, Fair Value Disclosure | 302 | 289 | |
Aggregate Unpaid Principal Balance Under the Fair Value Option, Liabilities | 290 | 286 | |
Fair Value, Option, Aggregate Differences, Long-term Debt Instruments | $ 12 | $ 3 | |
[1] | Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,284 million and $1,442 million at September 30, 2019 and December 31, 2018, respectively. |
Change in Fair Value of Financi
Change in Fair Value of Financial Instruments for which the FVO has been Elected (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |||||
Trading Loans [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | $ (1) | [1],[2] | $ 3 | [3],[4] | $ 18 | [1],[2] | $ 10 | [3],[4] |
Trading Loans [Member] | Trading Revenue [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | (1) | [2] | 3 | [4] | 18 | [2] | 10 | [4] |
Trading Loans [Member] | Mortgage Related Income [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | [5] | 0 | [6] | 0 | [5] | 0 | [6] |
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) | 40 | [1],[7] | 5 | [3],[8] | 80 | [1],[7] | (3) | [3],[8] |
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 Related Income [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 40 | [5],[7] | 5 | [6],[8] | 80 | [5],[7] | (3) | [6],[8] |
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) | 2 | [1] | 1 | [3] | 5 | [1] | (4) | [3] |
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 Related Income [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | [5] | 0 | [6] | 0 | [5] | 0 | [6] |
Loans Held-For-Investment [Member] | Other Income [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 2 | 1 | 5 | (4) | ||||
Mortgage Servicing Rights [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | (250) | [1] | (8) | [3] | (650) | [1] | 22 | [3] |
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 Related Income [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | (250) | [5] | (8) | [6] | (650) | [5] | 22 | [6] |
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) | (3) | [1] | 4 | [3] | (24) | [1] | 6 | [3] |
Brokered Time Deposits [Member] | Trading Revenue [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | (3) | 4 | (24) | 6 | ||||
Brokered Time Deposits [Member] | Mortgage Related Income [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | [5] | 0 | [6] | 0 | [5] | 0 | [6] |
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) | (2) | [1] | 1 | [3] | (15) | [1] | 6 | [3] |
Long-term Debt [Member] | Trading Revenue [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | (2) | 1 | (15) | 6 | ||||
Long-term Debt [Member] | Mortgage Related Income [Member] | ||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | [5] | 0 | [6] | 0 | [5] | 0 | [6] |
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, 2019 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] | Includes an immaterial amount of gains or losses in the Consolidated Statements of Income due to changes in fair value attributable to instrument-specific credit risk for three and nine months ended September 30, 2019 . | |||||||
[3] | 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. | |||||||
[4] | Includes an immaterial amount of gains or losses in the Consolidated Statements of Income due to changes in fair value attributable to instrument-specific credit risk for three and nine months ended September 30, 2018 . | |||||||
[5] | Income related to LHFS does not include income from IRLC s. For the three and nine months ended September 30, 2019 , income related to residential MSRs includes income recognized upon the sale of loans reported at LOCOM . | |||||||
[6] | 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 . | |||||||
[7] | Includes an immaterial amount of gains or losses in the Consolidated Statements of Income due to changes in fair value attributable to borrower-specific credit risk for the three and nine months ended September 30, 2019 | |||||||
[8] | Includes an immaterial amount of gains or losses in the Consolidated Statements of Income due to changes in fair value attributable to borrower-specific credit risk for the three and nine months ended September 30, 2018 . |
Fair Value Election and Measu_3
Fair Value Election and Measurement Level 3 Significant Unobservable Input Assumptions (Details) $ in Millions | Sep. 30, 2019USD ($) | Dec. 31, 2018USD ($) | ||
level 3 fair value assumptions [Line Items] | ||||
Loans Receivable, Fair Value Disclosure | $ 124 | $ 163 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
level 3 fair value assumptions [Line Items] | ||||
Loans Receivable, Fair Value Disclosure | 124 | 163 | ||
Fair Value, Recurring [Member] | ||||
level 3 fair value assumptions [Line Items] | ||||
Loans Receivable, Fair Value Disclosure | 124 | 163 | ||
Servicing Asset at Fair Value, Amount | 1,564 | |||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
level 3 fair value assumptions [Line Items] | ||||
Loans Receivable, Fair Value Disclosure | 124 | 163 | ||
Servicing Asset at Fair Value, Amount | 1,564 | 1,983 | ||
Fair Value, Recurring [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
level 3 fair value assumptions [Line Items] | ||||
Derivative, Fair Value, Net | 17 | [1] | 13 | [2] |
Loans Receivable, Fair Value Disclosure | 3 | 5 | ||
Fair Value, Recurring [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
level 3 fair value assumptions [Line Items] | ||||
Loans Receivable, Fair Value Disclosure | 121 | 158 | ||
Servicing Asset at Fair Value, Amount | $ 1,564 | $ 1,983 | ||
Pull Through Rate [Member] | Fair Value, 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 | 0.02 | 0.41 | ||
Pull Through Rate [Member] | Fair Value, 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, 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 | 0.83 | 0.81 | ||
MSR Value [Member] | Fair Value, 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 | 0.0021 | 0.0011 | ||
MSR Value [Member] | Fair Value, 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 | 0.0155 | 0.0165 | ||
MSR Value [Member] | Fair Value, 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 | 0.0102 | 0.0108 | ||
Measurement Input, Credit Spread [Member] | Fair Value, 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 | ||
Servicing Asset, Measurement Input | 0.01 | 0 | ||
Measurement Input, Credit Spread [Member] | Fair Value, 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 | 0.025 | 0.0250 | ||
Servicing Asset, Measurement Input | 0.29 | 1.16 | ||
Measurement Input, Credit Spread [Member] | Fair Value, 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 | 0.0172 | 0.0164 | ||
Servicing Asset, Measurement Input | 0.03 | 0.02 | ||
Measurement Input, Prepayment Rate [Member] | Fair Value, 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 | 0.0702 | 0.07 | ||
Servicing Asset, Measurement Input | 0.06 | 0.06 | ||
Measurement Input, Prepayment Rate [Member] | Fair Value, 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 | 0.31 | 0.22 | ||
Servicing Asset, Measurement Input | 0.31 | 0.30 | ||
Measurement Input, Prepayment Rate [Member] | Fair Value, 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 | 0.161 | 0.1239 | ||
Servicing Asset, Measurement Input | 0.15 | 0.13 | ||
Measurement Input, Default Rate [Member] | Fair Value, 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, 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 | 0.01 | ||
Measurement Input, Default Rate [Member] | Fair Value, 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 | 0.0051 | 0.0063 | ||
[1] | 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 in Note 20, “Fair Value Election and Measurement,” to the Company's 2018 Annual Report on Form 10-K , for a discussion of valuation assumptions related to the Visa derivative liability. | |||
[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 in Note 20, “Fair Value Election and Measurement,” to the Company's 2018 Annual Report on Form 10-K , 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, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |||||
Derivative contracts, net [Member] | ||||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | $ 17 | $ 3 | $ 17 | $ 3 | $ 24 | $ 13 | $ 3 | $ 0 | ||||
Included in earnings | 60 | [1] | 18 | [2] | 147 | [1] | 36 | [2] | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) | 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 | (3) | (8) | (5) | (10) | ||||||||
Transfers to other balance sheet line items | (64) | [3] | (26) | [4] | (138) | [3] | (43) | [4] | ||||
Transfers into Level 3 | 0 | 0 | 0 | 0 | ||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | 0 | 0 | 0 | 0 | ||||||||
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss) | 23 | 10 | 23 | 7 | ||||||||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 0 | 0 | 59 | |||||||||
Included in earnings | 0 | |||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) | 0 | |||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | |||||||||||
Sales | 0 | |||||||||||
Settlements | (2) | |||||||||||
Transfers to other balance sheet line items | 0 | |||||||||||
Transfers into Level 3 | 0 | |||||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | (57) | |||||||||||
Asset-backed Securities [Member] | ||||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 0 | 0 | 8 | |||||||||
Included in earnings | 0 | |||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) | 0 | |||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | |||||||||||
Sales | 0 | |||||||||||
Settlements | (1) | |||||||||||
Transfers to other balance sheet line items | 0 | |||||||||||
Transfers into Level 3 | 0 | |||||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | (7) | |||||||||||
Corporate Debt Securities [Member] | ||||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 0 | 0 | 5 | |||||||||
Included in earnings | 0 | |||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) | 0 | |||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | |||||||||||
Sales | 0 | |||||||||||
Settlements | 0 | |||||||||||
Transfers to other balance sheet line items | 0 | |||||||||||
Transfers into Level 3 | 0 | |||||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | (5) | |||||||||||
Available-for-sale Securities [Member] | ||||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 0 | 0 | 72 | |||||||||
Included in earnings | 0 | |||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) | 0 | |||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | |||||||||||
Sales | 0 | |||||||||||
Settlements | (3) | |||||||||||
Transfers to other balance sheet line items | 0 | |||||||||||
Transfers into Level 3 | 0 | |||||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | (69) | |||||||||||
Loans Held-For-Investment [Member] | ||||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 124 | 168 | 124 | 168 | $ 127 | $ 163 | $ 177 | $ 196 | ||||
Included in earnings | 2 | [5] | 0 | [6] | 5 | [5] | (3) | [6] | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) | 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 | (6) | (9) | (21) | (26) | ||||||||
Transfers to other balance sheet line items | 0 | 0 | 0 | 0 | ||||||||
Transfers into Level 3 | 1 | 0 | 2 | 1 | ||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | 0 | 0 | (25) | 0 | ||||||||
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss) | 3 | 0 | 5 | (4) | ||||||||
Interest Rate Lock Commitments [Member] | ||||||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | $ (64) | $ 26 | $ (138) | $ 43 | ||||||||
[1] | Includes issuances, fair value changes, and expirations. Amount related to residential IRLC s is recognized in Mortgage-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 $23 million in earnings during both the three and nine months ended September 30, 2019 , related to changes in unrealized gains on net derivative instruments still held at September 30, 2019 . | |||||||||||
[2] | Includes issuances, fair value changes, and expirations. Amount related to residential IRLC s is recognized in Mortgage-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 . | |||||||||||
[3] | During the three and nine months ended September 30, 2019 , the Company transferred $64 million and $138 million , respectively, of net IRLC assets out of level 3 as the associated loans were closed. | |||||||||||
[4] | 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. | |||||||||||
[5] | Amounts are generally included in Mortgage-related income; however, the mark on certain fair value loans is included in Other noninterest income. Included $3 million and $5 million in earnings during the three and nine months ended September 30, 2019 , respectively, related to changes in unrealized gains on LHFI still held at September 30, 2019 . | |||||||||||
[6] | Amounts are generally included in Mortgage-related income; however, the mark on certain fair value loans is included in Other noninterest income. Included $0 and $4 million in earnings during the three and nine months ended September 30, 2018 , respectively, related to changes in unrealized losses on LHFI still held at September 30, 2018 . |
Carrying Value of Those Assets
Carrying Value of Those Assets Measured at Fair Value on a Non-Recurring Basis (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Transfer of Portfolio Loans and Leases to Held-for-sale | $ 812 | $ 449 | |||
Allowance for Loan and Lease Losses, Write-offs | $ (139) | $ (122) | (377) | $ (329) | |
Loans Held-For-Sale [Member] | Fair Value, Nonrecurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 311 | 311 | $ 47 | ||
Asset Impairment Charges | (14) | (14) | (1) | ||
Loans Held-For-Sale [Member] | Fair Value, 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, 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 | 311 | 311 | 47 | ||
Loans Held-For-Sale [Member] | Fair Value, 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, Nonrecurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 128 | 128 | 63 | ||
Asset Impairment Charges | 0 | 0 | 0 | ||
Loans Held-For-Investment [Member] | Fair Value, 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, 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, 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 | 128 | 128 | 63 | ||
Other Real Estate Owned [Member] | Fair Value, Nonrecurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 22 | 22 | 19 | ||
Asset Impairment Charges | (1) | (3) | (4) | ||
Other Real Estate Owned [Member] | Fair Value, 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, 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 | ||
Other Real Estate Owned [Member] | Fair Value, 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 | 22 | 22 | 19 | ||
Other Assets [Member] | Fair Value, Nonrecurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Disclosure | 74 | 74 | 67 | ||
Assets, Fair Value Adjustment | 16 | 14 | 24 | ||
Other Assets [Member] | Fair Value, 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, 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 | 61 | 61 | 47 | ||
Other Assets [Member] | Fair Value, 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 | 13 | 13 | 20 | ||
Other Assets [Member] | Nonmarketable Equity Securities [Member] | Fair Value, Nonrecurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, Fair Value Adjustment | $ 16 | $ 16 | 30 | ||
Other Assets [Member] | Building [Member] | Fair Value, Nonrecurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Asset Impairment Charges | $ (5) |
Carrying Amounts and Fair Value
Carrying Amounts and Fair Values of the Company's Financial Instruments (Detail) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 | |
Financial assets | |||
Debt Securities, Trading, and Equity Securities, FV-NI | [1] | $ 7,104,000,000 | $ 5,506,000,000 |
Available-for-sale Securities | [2] | 31,358,000,000 | 31,442,000,000 |
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group | [3] | 2,006,000,000 | 1,468,000,000 |
Loans and Leases Receivable, Excluding Fair Value Loans | 158,331,000,000 | 151,676,000,000 | |
Loans Receivable, Fair Value Disclosure | 124,000,000 | 163,000,000 | |
Other Assets | 10,996,000,000 | 8,991,000,000 | |
Financial liabilities | |||
Deposits | 167,671,000,000 | 162,589,000,000 | |
Long-term Debt | [4] | 20,369,000,000 | 15,072,000,000 |
Fair Value, Inputs, Level 1 [Member] | |||
Financial assets | |||
Cash and Cash Equivalents, Fair Value Disclosure | 9,184,000,000 | 7,495,000,000 | |
Debt Securities, Trading, and Equity Securities, FV-NI | 764,000,000 | 521,000,000 | |
Available-for-sale Securities | 4,018,000,000 | 4,211,000,000 | |
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 | [5] | 76,000,000 | 95,000,000 |
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 | 693,000,000 | 925,000,000 | |
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 | 6,313,000,000 | 4,965,000,000 | |
Available-for-sale Securities | 27,340,000,000 | 27,231,000,000 | |
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group | 448,000,000 | 261,000,000 | |
Loans Held-for-sale, Fair Value Disclosure | 1,488,000,000 | 1,178,000,000 | |
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 | 16,637,000,000 | 15,106,000,000 | |
Short-term Debt, Fair Value | 7,144,000,000 | 8,772,000,000 | |
Long-term Debt | 18,490,000,000 | 13,024,000,000 | |
Long-term Debt, Fair Value | 302,000,000 | 289,000,000 | |
Trading liabilities | 677,000,000 | 672,000,000 | |
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 | 27,000,000 | 20,000,000 | |
Available-for-sale Securities | 0 | 0 | |
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group | 77,000,000 | 30,000,000 | |
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 | |
Loans and Leases Receivable, Excluding Fair Value Loans | 156,222,000,000 | 148,167,000,000 | |
Loans Receivable, Fair Value Disclosure | 124,000,000 | 163,000,000 | |
Other Assets | [5] | 737,000,000 | 630,000,000 |
Other Assets, Fair Value Disclosure | 0 | 0 | |
Financial liabilities | |||
Time Deposits | 0 | 0 | |
Short-term Debt, Fair Value | 0 | 0 | |
Long-term Debt | 1,767,000,000 | 1,705,000,000 | |
Long-term Debt, Fair Value | 0 | 0 | |
Trading liabilities | 10,000,000 | 7,000,000 | |
Reported Value Measurement [Member] | |||
Financial assets | |||
Cash and Cash Equivalents, Fair Value Disclosure | 9,184,000,000 | 7,495,000,000 | |
Debt Securities, Trading, and Equity Securities, FV-NI | 7,104,000,000 | 5,506,000,000 | |
Available-for-sale Securities | 31,358,000,000 | 31,442,000,000 | |
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group | 518,000,000 | 290,000,000 | |
Loans Held-for-sale, Fair Value Disclosure | 1,488,000,000 | 1,178,000,000 | |
Loans and Leases Receivable, Excluding Fair Value Loans | 156,632,000,000 | 150,061,000,000 | |
Loans Receivable, Fair Value Disclosure | 124,000,000 | 163,000,000 | |
Other Assets | [5] | 737,000,000 | 630,000,000 |
Other Assets, Fair Value Disclosure | [5] | 76,000,000 | 95,000,000 |
Financial liabilities | |||
Time Deposits | 16,727,000,000 | 15,355,000,000 | |
Short-term Debt, Fair Value | 7,144,000,000 | 8,772,000,000 | |
Long-term Debt | 20,067,000,000 | 14,783,000,000 | |
Long-term Debt, Fair Value | 302,000,000 | 289,000,000 | |
Trading liabilities | 1,380,000,000 | 1,604,000,000 | |
Estimate of Fair Value, Fair Value Disclosure [Member] | |||
Financial assets | |||
Cash and Cash Equivalents, Fair Value Disclosure | 9,184,000,000 | 7,495,000,000 | |
Debt Securities, Trading, and Equity Securities, FV-NI | 7,104,000,000 | 5,506,000,000 | |
Available-for-sale Securities | 31,358,000,000 | 31,442,000,000 | |
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group | 525,000,000 | 291,000,000 | |
Loans Held-for-sale, Fair Value Disclosure | 1,488,000,000 | 1,178,000,000 | |
Loans and Leases Receivable, Excluding Fair Value Loans | 156,222,000,000 | 148,167,000,000 | |
Loans Receivable, Fair Value Disclosure | 124,000,000 | 163,000,000 | |
Other Assets | [5] | 737,000,000 | 630,000,000 |
Other Assets, Fair Value Disclosure | [5] | 76,000,000 | 95,000,000 |
Financial liabilities | |||
Time Deposits | 16,637,000,000 | 15,106,000,000 | |
Short-term Debt, Fair Value | 7,144,000,000 | 8,772,000,000 | |
Long-term Debt | 20,257,000,000 | 14,729,000,000 | |
Long-term Debt, Fair Value | 302,000,000 | 289,000,000 | |
Trading liabilities | 1,380,000,000 | 1,604,000,000 | |
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 | 964,000,000 | 615,000,000 | |
Deposits, Fair Value Disclosure | 552,000,000 | 403,000,000 | |
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 | 993,000,000 | 642,000,000 | |
Deposits, Fair Value Disclosure | 552,000,000 | 403,000,000 | |
Brokered Time Deposits [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | |||
Financial liabilities | |||
Deposits | 964,000,000 | 615,000,000 | |
Deposits, Fair Value Disclosure | $ 552,000,000 | $ 403,000,000 | |
[1] | Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,284 million and $1,442 million at September 30, 2019 and December 31, 2018, respectively. | ||
[2] | Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $151 million and $222 million at September 30, 2019 and December 31, 2018, respectively. | ||
[3] | Includes $1.5 billion and $1.2 billion measured at fair value at September 30, 2019 and December 31, 2018 , respectively. | ||
[4] | Includes debt of consolidated VIEs of $143 million and $161 million at September 30, 2019 and December 31, 2018, respectively. | ||
[5] | Other financial assets recorded at amortized cost consist of FHLB |
Contingencies - Additional Info
Contingencies - Additional Information (Detail) $ in Millions | Sep. 30, 2019USD ($) |
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 |
Business Segment Reporting (Det
Business Segment Reporting (Detail) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($)segments | Sep. 30, 2018USD ($) | |||||
Number of Operating Segments | segments | 2 | |||||||
Average Total Loans Held for Investment | $ 157,612 | $ 145,995 | $ 156,044 | $ 144,368 | ||||
Average Total Deposits | 162,533 | 159,348 | 160,779 | 159,159 | ||||
Average Total Assets | 224,747 | 207,395 | 221,019 | 205,370 | ||||
Average Total Liabilities | 198,521 | 183,120 | 195,712 | 181,046 | ||||
Average Total Equity | 26,226 | 24,275 | 25,307 | 24,324 | ||||
Interest Income (Expense), Net | 1,510 | 1,512 | 4,589 | 4,440 | ||||
Fully Taxable Equivalent Adjustment | 22 | 22 | 66 | 65 | ||||
Net Interest Income Including Fully Taxable Equivalent Adjustment | 1,532 | [1] | 1,534 | [2] | 4,655 | [3] | 4,505 | [4] |
Provision for Loan, Lease, and Other Losses | 132 | [5] | 61 | [6] | 412 | [7] | 121 | [8] |
Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment | 1,400 | 1,473 | 4,243 | 4,384 | ||||
Noninterest Income | 843 | 782 | 2,653 | 2,408 | ||||
Noninterest Expense | 1,474 | 1,384 | 4,602 | 4,191 | ||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 769 | 871 | 2,294 | 2,601 | ||||
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal | 144 | [9] | 117 | [10] | 396 | [11] | 477 | [12] |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 625 | 754 | 1,898 | 2,124 | ||||
Net Income (Loss) Attributable to Noncontrolling Interest | 2 | 2 | 7 | 7 | ||||
Net Income (Loss) Attributable to Parent | 623 | 752 | 1,891 | 2,117 | ||||
Consumer [Member] | ||||||||
Average Total Loans Held for Investment | 80,414 | 75,234 | 79,473 | 74,907 | ||||
Average Total Deposits | 114,132 | 111,950 | 113,067 | 111,008 | ||||
Average Total Assets | 90,329 | 85,933 | 89,026 | 84,909 | ||||
Average Total Liabilities | 114,989 | 112,898 | 113,979 | 111,909 | ||||
Average Total Equity | 0 | 0 | 0 | 0 | ||||
Interest Income (Expense), Net | 1,068 | 1,056 | 3,222 | 3,087 | ||||
Fully Taxable Equivalent Adjustment | 0 | 0 | 0 | 0 | ||||
Net Interest Income Including Fully Taxable Equivalent Adjustment | 1,068 | [1] | 1,056 | [2] | 3,222 | [3] | 3,087 | [4] |
Provision for Loan, Lease, and Other Losses | 77 | [5] | 36 | [6] | 204 | [7] | 102 | [8] |
Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment | 991 | 1,020 | 3,018 | 2,985 | ||||
Noninterest Income | 479 | 444 | 1,415 | 1,347 | ||||
Noninterest Expense | 1,025 | 991 | 3,029 | 2,984 | ||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 445 | 473 | 1,404 | 1,348 | ||||
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal | 102 | [9] | 108 | [10] | 321 | [11] | 305 | [12] |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 343 | 365 | 1,083 | 1,043 | ||||
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | 0 | 0 | 0 | ||||
Net Income (Loss) Attributable to Parent | 343 | 365 | 1,083 | 1,043 | ||||
Wholesale [Member] | ||||||||
Average Total Loans Held for Investment | 77,107 | 70,669 | 76,481 | 69,375 | ||||
Average Total Deposits | 45,817 | 44,702 | 44,777 | 45,247 | ||||
Average Total Assets | 93,584 | 84,909 | 92,046 | 83,193 | ||||
Average Total Liabilities | 52,471 | 51,215 | 51,441 | 51,375 | ||||
Average Total Equity | 0 | 0 | 0 | 0 | ||||
Interest Income (Expense), Net | 529 | 539 | 1,607 | 1,580 | ||||
Fully Taxable Equivalent Adjustment | 21 | 22 | 65 | 63 | ||||
Net Interest Income Including Fully Taxable Equivalent Adjustment | 550 | [1] | 561 | [2] | 1,672 | [3] | 1,643 | [4] |
Provision for Loan, Lease, and Other Losses | 56 | [5] | 24 | [6] | 208 | [7] | 19 | [8] |
Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment | 494 | 537 | 1,464 | 1,624 | ||||
Noninterest Income | 368 | 368 | 1,137 | 1,096 | ||||
Noninterest Expense | 457 | 432 | 1,382 | 1,307 | ||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 405 | 473 | 1,219 | 1,413 | ||||
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal | 96 | [9] | 112 | [10] | 289 | [11] | 334 | [12] |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 309 | 361 | 930 | 1,079 | ||||
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | 0 | 0 | 0 | ||||
Net Income (Loss) Attributable to Parent | 309 | 361 | 930 | 1,079 | ||||
Corporate Other [Member] | ||||||||
Average Total Loans Held for Investment | 91 | 93 | 90 | 89 | ||||
Average Total Deposits | 2,779 | 3,264 | 3,224 | 3,234 | ||||
Average Total Assets | 38,557 | 35,647 | 38,189 | 35,585 | ||||
Average Total Liabilities | 31,126 | 19,531 | 30,465 | 18,065 | ||||
Average Total Equity | 0 | 0 | 0 | 0 | ||||
Interest Income (Expense), Net | (79) | (46) | (222) | (111) | ||||
Fully Taxable Equivalent Adjustment | 0 | 1 | 1 | 2 | ||||
Net Interest Income Including Fully Taxable Equivalent Adjustment | (79) | [1] | (45) | [2] | (221) | [3] | (109) | [4] |
Provision for Loan, Lease, and Other Losses | 0 | [5] | 0 | [6] | 0 | [7] | 0 | [8] |
Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment | (79) | (45) | (221) | (109) | ||||
Noninterest Income | 34 | 16 | 230 | 81 | ||||
Noninterest Expense | (5) | (35) | 207 | (83) | ||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | (40) | 6 | (198) | 55 | ||||
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal | (10) | [9] | (51) | [10] | (81) | [11] | (23) | [12] |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | (30) | 57 | (117) | 78 | ||||
Net Income (Loss) Attributable to Noncontrolling Interest | 2 | 2 | 7 | 7 | ||||
Net Income (Loss) Attributable to Parent | (32) | 55 | (124) | 71 | ||||
Reconciling Items | ||||||||
Average Total Loans Held for Investment | 0 | (1) | 0 | (3) | ||||
Average Total Deposits | (195) | (568) | (289) | (330) | ||||
Average Total Assets | 2,277 | 906 | 1,758 | 1,683 | ||||
Average Total Liabilities | (65) | (524) | (173) | (303) | ||||
Average Total Equity | 26,226 | 24,275 | 25,307 | 24,324 | ||||
Interest Income (Expense), Net | (8) | (37) | (18) | (116) | ||||
Fully Taxable Equivalent Adjustment | 1 | (1) | 0 | 0 | ||||
Net Interest Income Including Fully Taxable Equivalent Adjustment | (7) | [1] | (38) | [2] | (18) | [3] | (116) | [4] |
Provision for Loan, Lease, and Other Losses | (1) | [5] | 1 | [6] | 0 | [7] | 0 | [8] |
Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment | (6) | (39) | (18) | (116) | ||||
Noninterest Income | (38) | (46) | (129) | (116) | ||||
Noninterest Expense | (3) | (4) | (16) | (17) | ||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | (41) | (81) | (131) | (215) | ||||
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal | (44) | [9] | (52) | [10] | (133) | [11] | (139) | [12] |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 3 | (29) | 2 | (76) | ||||
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | 0 | 0 | 0 | ||||
Net Income (Loss) Attributable to Parent | $ 3 | $ (29) | $ 2 | $ (76) | ||||
[1] | Presented on a matched maturity funds transfer price basis for the segments. | |||||||
[2] | Presented on a matched maturity funds transfer price basis for the segments. | |||||||
[3] | Presented on a matched maturity funds transfer price basis for the segments. | |||||||
[4] | Presented on a matched maturity funds transfer price basis for the segments. | |||||||
[5] | 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. | |||||||
[6] | 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. | |||||||
[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 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. | |||||||
[9] | Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals. | |||||||
[10] | Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals. | |||||||
[11] | Includes regular provision for income taxes as well as FTE income and tax credit adjustment reversals. | |||||||
[12] | 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, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | ||||
AOCI, Debt Securities, Available-for-sale, Adjustment, after Tax | $ 603 | $ (697) | $ 603 | $ (697) | $ 437 | $ (357) | $ (519) | $ (1) | |||
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax | (66) | (479) | (66) | (479) | (148) | (368) | (459) | (244) | |||
Accumulated Other Comprehensive Income (Loss), Brokered Time Deposits, net of tax | 0 | (1) | 0 | (1) | 0 | 1 | (1) | (1) | |||
Accumulated Other Comprehensive Income (Loss), Long-term Debt, Net of Tax | (1) | (2) | (1) | (2) | (1) | (1) | (2) | (4) | |||
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax | (685) | (695) | (685) | (695) | (689) | (695) | (698) | (570) | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax | (149) | (1,874) | (149) | (1,874) | $ (401) | $ (1,420) | $ (1,679) | $ (820) | |||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income | 31 | [1] | (10) | [2] | |||||||
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax | 169 | (178) | 931 | (725) | |||||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 47 | (37) | 203 | (209) | |||||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Brokered Time Deposits Arising During Period, Net of Tax | 0 | 0 | (1) | 0 | |||||||
Other Comprehensive Income (Loss), Unrealized Credit Risk Gain (Loss) on Long-term Debt Arising During Period, Net of Tax | 0 | 0 | 0 | 3 | |||||||
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, after Tax | 0 | 0 | 0 | (7) | |||||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 216 | (215) | 1,133 | (938) | |||||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | (3) | 0 | 29 | (1) | |||||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 35 | 17 | 99 | 30 | |||||||
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 | 4 | 3 | 10 | 9 | |||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 36 | 20 | 138 | 38 | |||||||
Other Comprehensive Income (Loss), Securities, Available-for-sale, Adjustment, after Tax | 166 | (178) | 960 | (726) | |||||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 82 | (20) | 302 | (179) | |||||||
Other Comprehensive Income (Loss), Brokered Time Deposits, Net of Tax | 0 | 0 | (1) | 0 | |||||||
Other Comprehensive Income (Loss), Long Term Debt, Adjustment, Net of Tax | 0 | 0 | 0 | (3) | |||||||
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax | (4) | (3) | (10) | (2) | |||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | $ 252 | $ (195) | $ 1,271 | (900) | |||||||
AOCI Attributable to Parent [Member] | |||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income | [2],[3] | (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 | [3] | 30 | |||||||||
Derivative [Member] | AOCI Attributable to Parent [Member] | |||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income | [3] | (56) | |||||||||
Brokered Time Deposits [Member] | AOCI Attributable to Parent [Member] | |||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income | [3] | 0 | |||||||||
Long-term Debt [Member] | AOCI Attributable to Parent [Member] | |||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income | [3] | (1) | |||||||||
Defined Benefit Plan [Member] | AOCI Attributable to Parent [Member] | |||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income | [3] | $ (127) | |||||||||
[1] | Related to the Company’s adoption of ASU 2016-02 on January 1, 2019. See Note 1 , “Significant Accounting Policies,” for additional information. | ||||||||||
[2] | 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,” to the Company's 2018 Annual Report on Form 10-K for additional information. | ||||||||||
[3] | Related to the Company’s early adoption of ASU 2018-02 on January 1, 2018. See Note 1 , “Significant Accounting Policies,” to the Company's 2018 Annual Report on Form 10-K 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, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax | $ (4) | $ 0 | $ 38 | $ (1) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | 1 | 0 | (9) | 0 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | (3) | 0 | 29 | (1) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax | 46 | 22 | 129 | 39 |
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Tax | (11) | (5) | (30) | (9) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 35 | 17 | 99 | 30 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax | (1) | (2) | (4) | (5) |
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Actuarial Gain (Loss), Before Tax | 6 | 6 | 18 | 17 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax | 5 | 4 | 14 | 12 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, Tax | (1) | (1) | (4) | (3) |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax | 4 | 3 | 10 | 9 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | $ 36 | $ 20 | $ 138 | $ 38 |