KeyCorp (KEY) 10-Q 3 Aug 20 2020 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2020	Jul. 30, 2020
Entity Information [Line Items]
Document Type	10-Q
Document Period End Date	Jun. 30, 2020
Entity File Number	001-11302
Entity Registrant Name	KeyCorp
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	34-6542451
Entity Address, Address Line One	127 Public Square,
Entity Address, City or Town	Cleveland,
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	44114-1306
City Area Code	216
Local Phone Number	689-3000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		975,999,979
Entity Central Index Key	0000091576
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Shares, $1 par value
Trading Symbol	KEY
Security Exchange Name	NYSE
Series E Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	Perpetual Non-Cumulative Preferred Stock, Series E)
Trading Symbol	KEY PrI
Security Exchange Name	NYSE
Series F Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	Cumulative Preferred Stock, Series F)
Trading Symbol	KEY PrJ
Security Exchange Name	NYSE
Series G Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	Cumulative Preferred Stock, Series G)
Trading Symbol	KEY PrK
Security Exchange Name	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Jun. 30, 2020	Dec. 31, 2019
ASSETS
Cash and due from banks		$ 1,059	$ 732
Short-term investments		14,036	1,272
Trading account assets		645	1,040
Securities available for sale		23,600	21,843
Held-to-maturity securities (fair value: $9,520 and $10,116)		9,075	10,067
Other investments		655	605
Loans, net of unearned income of $515 and $603		106,159	94,646
Less: Allowance for loan and lease losses		(1,708)	(900)
Net loans		104,451	93,746
Loans held for sale	[1]	2,007	1,334
Premises and equipment		776
Premises and equipment			814
Goodwill		2,664	2,664
Other intangible assets		218	253
Corporate-owned life insurance		4,251	4,233
Accrued income and other assets		6,976	5,494
Discontinued assets		779	891
Total assets		171,192	144,988
Deposits in domestic offices:
NOW and money market deposit accounts		78,853	66,714
Savings deposits		5,371	4,651
Certificates of deposit ($100,000 or more)		4,476	6,598
Other time deposits		4,011	5,054
Total interest-bearing deposits		92,711	83,017
Noninterest-bearing deposits		42,802	28,853
Total deposits		135,513	111,870
Federal funds purchased and securities sold under repurchase agreements		267	387
Bank notes and other short-term borrowings		1,716	705
Accrued expense and other liabilities		2,420	2,540
Long-term debt		13,734	12,448
Total liabilities		153,650	127,950
EQUITY
Preferred stock		1,900	1,900
Common Shares, $1 par value; authorized 2,100,000,000 and 2,100,000,000 shares; issued 1,256,702,081 and 1,256,702,081 shares		1,257	1,257
Capital surplus		6,240	6,295
Retained earnings		12,154	12,469
Treasury stock, at cost (280,755,557 and 279,513,530 shares)		(4,945)	(4,909)
Accumulated other comprehensive income (loss)		936	26
Key shareholders’ equity		17,542	17,038
Noncontrolling interests		0	0
Total equity		17,542	17,038
Total liabilities and equity		$ 171,192	$ 144,988
[1]	Total loans held for sale include real estate — residential mortgage loans held for sale at fair value of $250 million at June 30, 2020 , and $140 million at December 31, 2019 .

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Held-to-maturity securities, fair value	$ 9,520,000,000	$ 10,116,000,000
Unearned income on loans	515,000,000	603,000,000
Loans held for sale		0
Aggregate amount of certificates of deposit, denominations	$ 100,000,000,000	$ 100,000,000,000
Common shares, par value (in usd per share)	$ 1	$ 1
Common shares, shares authorized (in shares)	2,100,000,000	1,400,000,000
Common shares, shares issued (in shares)	1,256,702,081	1,256,702,081
Treasury stock, shares (in shares)	280,755,557	279,513,530
Residential Mortgage
Loans held for sale	$ 250,000,000	$ 140,000,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
INTEREST INCOME
Loans		$ 980	$ 1,082	$ 2,006	$ 2,148
Loans held for sale		21	15	40	28
Securities available for sale		121	135	250	264
Held-to-maturity securities		56	67	118	135
Trading account assets		5	9	13	17
Short-term investments		7	17	13	33
Other investments		0	4	1	8
Total interest income		1,190	1,329	2,441	2,633
INTEREST EXPENSE
Deposits		96	223	265	425
Federal funds purchased and securities sold under repurchase agreements		0	0	6	1
Bank notes and other short-term borrowings		5	5	10	9
Long-term debt		71	120	161	240
Total interest expense		172	348	442	675
NET INTEREST INCOME		1,018	981	1,999	1,958
Provision for credit losses		482	74	841	136
Net interest income after provision for credit losses		536	907	1,158	1,822
NONINTEREST INCOME
Trust and investment services income		123	122	256	237
Investment banking and debt placement fees		156	163	272	273
Service charges on deposit accounts		68	83	152	165
Operating lease income and other leasing gains		60	44	90	81
Corporate services income		52	53	114	108
Cards and payments income		91	73	157	139
Corporate-owned life insurance income		35	33	71	65
Consumer mortgage income		62	15	82	26
Commercial mortgage servicing fees		12	19	30	37
Other income	[1]	33	17	(55)	27
Total noninterest income		692	622	1,169	1,158
NONINTEREST EXPENSE
Personnel		572	589	1,087	1,152
Net occupancy		71	73	147	145
Computer processing		56	56	111	110
Business services and professional fees		49	45	93	89
Equipment		25	24	49	48
Operating lease expense		34	32	70	58
Marketing		24	24	45	43
FDIC assessment		8	9	17	16
Intangible asset amortization		18	22	35	44
OREO expense, net		6	4	9	7
Other expense		150	141	281	270
Total noninterest expense		1,013	1,019	1,944	1,982
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		215	510	383	998
Income taxes		30	87	53	169
INCOME (LOSS) FROM CONTINUING OPERATIONS		185	423	330	829
Income (loss) from discontinued operations		2	2	3	3
NET INCOME (LOSS)		187	425	333	832
Less: Net income (loss) attributable to noncontrolling interests		0	0	0	0
NET INCOME (LOSS) ATTRIBUTABLE TO KEY		187	425	333	832
Income (loss) from continuing operations attributable to Key common shareholders		159	403	277	789
Net income (loss) attributable to Key common shareholders		$ 161	$ 405	$ 280	$ 792
Per Common Share:
Income (loss) from continuing operations attributable to Key common shareholders (in usd per share)		$ 0.16	$ 0.40	$ 0.29	$ 0.79
Income (loss) from discontinued operations, net of taxes (in usd per share)		0	0	0	0
Net income (loss) attributable to Key common shareholders (in usd per share)	[2]	0.17	0.40	0.29	0.79
Per Common Share — assuming dilution:
Income (loss) from continuing operations attributable to Key common shareholders (in usd per share)		0.16	0.40	0.28	0.78
Income (loss) from discontinued operations, net of taxes (in usd per share)		0	0	0	0
Net income (loss) attributable to Key common shareholders (in usd per share)	[2]	0.17	0.40	0.29	0.78
Cash dividends declared per common share (in usd per share)		$ 0.185	$ 0.17	$ 0.370	$ 0.34
Weighted-average common shares outstanding (000) (in shares)		967,147	999,163	967,380	1,003,047
Effect of common share options and other stock awards (in shares)		4,994	8,801	6,892	9,318
Weighted-average common shares and potential common shares outstanding (in shares)	[3]	972,141	1,007,964	974,272	1,012,365
[1]	For the three months ended June 30, 2020 , we had no net securities gains (losses). For the six months ended June 30, 2020 , net securities gains (losses) totaled $4 million . For the three and six months ended June 30, 2019 , net securities gains (losses) totaled less than $1 million . For the three months ended June 30, 2020 , and June 30, 2019 , we did no t have any impairment losses related to securities.
[2]	EPS may not foot due to rounding.
[3]	Assumes conversion of Common Share options and other stock awards and/or convertible preferred stock, as applicable.

Consolidated Statements of In_2

Consolidated Statements of Income (Parenthetical) - USD ($)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Net securities gains (losses)	$ 0	$ 1,000,000
Impaired losses related to securities	$ 0	$ 0

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 187	$ 425	$ 333	$ 832
Other comprehensive income (loss), net of tax:
Net unrealized gains (losses) on securities available for sale, net of income taxes of $40, $91, $166 and $147	130	291		475
Net unrealized gains (losses) on derivative financial instruments, net of income taxes of ($5), $68. $112, and $99	(14)	219		318
Foreign currency translation adjustments, net of income taxes of $0, $1, $0, and $1	0	1		4
Net pension and postretirement benefit costs, net of income taxes of $2, $5, $4, and $6	6	17		19
Total other comprehensive income (loss), net of tax	122	528	910	816
Comprehensive income (loss)	309	953	1,243	1,648
Less: Comprehensive income attributable to noncontrolling interests	0	0		0
Comprehensive income (loss) attributable to Key	$ 309	$ 953	$ 1,243	$ 1,648

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Income taxes effect on net unrealized (losses) gains on securities available for sale	$ (40)	$ (91)	$ (166)	$ (147)
Income taxes effect on net unrealized gains (losses) on derivative financial instruments	5	(68)	(112)	(99)
Income taxes effect on foreign currency translation adjustments	0	(1)	0	(1)
Income taxes effect on net pension and postretirement benefit costs	$ 2	$ 5	$ 4	$ 6

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Millions	Total	Series D Preferred Stock	Series E Preferred Stock	Series F Preferred Stock	Series G Preferred Stock	Preferred Stock	Common Stock	Capital Surplus	Retained Earnings	Retained EarningsSeries D Preferred Stock	Retained EarningsSeries E Preferred Stock	Retained EarningsSeries F Preferred Stock	Retained EarningsSeries G Preferred Stock	Treasury Stock, at Cost	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests	Cumulative Effect, Period of Adoption, AdjustmentRetained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance						$ 1,450	$ 1,257	$ 6,331	$ 11,556					$ (4,181)	$ (818)	$ 1
Beginning Balance, Preferred Shares (in shares) at Dec. 31, 2018						946,000
Beginning Balance, Common Shares (in shares) at Dec. 31, 2018							1,019,503,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance						$ 1,900	$ 1,257	6,266	12,005					(4,457)	(2)	2
Net income (loss)	$ 832								832
Other comprehensive income (loss)	816														816
Deferred compensation								1
Cash dividends declared on common shares									(343)
Cash dividends declared on preferred stock										$ (13)	$ (15)	$ (12)
Issuance of Series G Preferred Stock (in shares)						450,000
Issuance of Series G Preferred Stock						$ 450		(15)
Open market common share repurchases (in shares)							(20,325,000)
Open market Common Share repurchases														(346)
Employee equity compensation program Common Share repurchases (in shares)							(1,878,000)
Employee equity compensation program Common Share repurchases								(3)						(33)
Common shares reissued (returned) for stock options and other employee benefit plans, shares							5,814,000
Common Shares reissued (returned) for stock options and other employee benefit plans								(48)						103
Net contribution from (distribution to) noncontrolling interests																1
Ending Balance, Preferred Shares (in shares) at Jun. 30, 2019						1,396,000
Ending Balance, Common Shares (in shares) at Jun. 30, 2019							1,003,114,000
Ending Balance at Jun. 30, 2019						$ 1,900	$ 1,257	6,266	12,005					(4,457)	(2)	2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance						$ 1,450	$ 1,257	6,259	11,771					(4,283)	(530)	2
Beginning Balance, Preferred Shares (in shares) at Mar. 31, 2019						946,000
Beginning Balance, Common Shares (in shares) at Mar. 31, 2019							1,013,186,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance						$ 1,900	$ 1,257	6,266	12,005					(4,457)	(2)	2
Net income (loss)	425								425
Other comprehensive income (loss)	528
Deferred compensation								4
Cash dividends declared on common shares									(171)						528
Cash dividends declared on preferred stock										(7)	(7)	(6)
Issuance of Series G Preferred Stock (in shares)						450,000
Issuance of Series G Preferred Stock						$ 450		(15)
Open market common share repurchases (in shares)							(10,357,000)
Open market Common Share repurchases														(179)
Employee equity compensation program Common Share repurchases (in shares)							(55,000)
Employee equity compensation program Common Share repurchases								(1)						(1)
Common shares reissued (returned) for stock options and other employee benefit plans, shares							340,000
Common Shares reissued (returned) for stock options and other employee benefit plans								19						6
Ending Balance, Preferred Shares (in shares) at Jun. 30, 2019						1,396,000
Ending Balance, Common Shares (in shares) at Jun. 30, 2019							1,003,114,000
Ending Balance at Jun. 30, 2019						$ 1,900	$ 1,257	6,266	12,005					(4,457)	(2)	2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance						1,900	1,257	6,266	12,005					(4,457)	(2)	2
Beginning Balance	17,038					$ 1,900	$ 1,257	6,295	12,469					(4,909)	26	0	$ 230
Beginning Balance, Preferred Shares (in shares) at Dec. 31, 2019						1,396,000
Beginning Balance, Common Shares (in shares) at Dec. 31, 2019							977,189,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	17,542					$ 1,900	$ 1,257	6,240	12,154					(4,945)	936	0
Net income (loss)	333								333
Other comprehensive income (loss)	910														910
Cash dividends declared on common shares									(362)
Cash dividends declared on preferred stock										(13)	(15)	(12)	$ (13)
Open market common share repurchases (in shares)							(6,067,000)
Open market Common Share repurchases														(117)
Employee equity compensation program Common Share repurchases (in shares)							(1,814,000)
Employee equity compensation program Common Share repurchases								(55)						(36)
Other									(3)
Common shares reissued (returned) for stock options and other employee benefit plans, shares							6,639,000
Common Shares reissued (returned) for stock options and other employee benefit plans														117
Ending Balance, Preferred Shares (in shares) at Jun. 30, 2020		21,000	500,000	425,000	450,000	1,396,000
Ending Balance, Common Shares (in shares) at Jun. 30, 2020							975,947,000
Ending Balance at Jun. 30, 2020	17,542					$ 1,900	$ 1,257	6,240	12,154					(4,945)	936	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance						$ 1,900	$ 1,257	6,222	12,174					(4,956)	814	0
Beginning Balance, Preferred Shares (in shares) at Mar. 31, 2020						1,396,000
Beginning Balance, Common Shares (in shares) at Mar. 31, 2020							975,319,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	17,542					$ 1,900	$ 1,257	6,240	12,154					(4,945)	936	0
Net income (loss)	187								187
Other comprehensive income (loss)	122														122
Deferred compensation								1
Cash dividends declared on common shares									(181)
Cash dividends declared on preferred stock										$ (6)	$ (7)	$ (6)	$ (7)
Employee equity compensation program Common Share repurchases (in shares)							(19,000)
Employee equity compensation program Common Share repurchases								17						(1)
Common shares reissued (returned) for stock options and other employee benefit plans, shares							647,000
Common Shares reissued (returned) for stock options and other employee benefit plans														12
Ending Balance, Preferred Shares (in shares) at Jun. 30, 2020		21,000	500,000	425,000	450,000	1,396,000
Ending Balance, Common Shares (in shares) at Jun. 30, 2020							975,947,000
Ending Balance at Jun. 30, 2020	17,542					$ 1,900	$ 1,257	6,240	12,154					(4,945)	936	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	$ 17,542					$ 1,900	$ 1,257	$ 6,240	$ 12,154					$ (4,945)	$ 936	$ 0

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Cash dividends declared on common shares (in usd per share)	$ 0.185	$ 0.17	$ 0.370	$ 0.34
Series D Preferred Stock
Cash dividends declared on Preferred Stock (in usd per share)	12.50	12.50	25	25
Series E Preferred Stock
Cash dividends declared on Preferred Stock (in usd per share)	0.382813	0.382813	0.765626	0.765626
Series F Preferred Stock
Cash dividends declared on Preferred Stock (in usd per share)	0.353125	$ 0.353125	0.70625	$ 0.70625
Series G Preferred Stock
Cash dividends declared on Preferred Stock (in usd per share)	$ 0.351563		$ 0.703126

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
OPERATING ACTIVITIES
Net income (loss)	$ 333,000,000	$ 832,000,000
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Provision for credit losses	841,000,000	136,000,000
Depreciation and amortization expense, net	86,000,000	121,000,000
Accretion of acquired loans	18,000,000	28,000,000
Increase in cash surrender value of corporate-owned life insurance	(58,000,000)	(57,000,000)
Stock-based compensation expense	51,000,000	48,000,000
Deferred income taxes (benefit)	(148,000,000)	68,000,000
Proceeds from sales of loans held for sale	6,437,000,000	4,445,000,000
Originations of loans held for sale, net of repayments	(6,816,000,000)	(4,890,000,000)
Net losses (gains) on sales of loans held for sale	(109,000,000)	(70,000,000)
Net losses (gains) on leased equipment	(16,000,000)	(11,000,000)
Net securities losses (gains)	(4,000,000)	0
Net losses (gains) on sales of fixed assets	3,000,000	11,000,000
Net decrease (increase) in trading account assets	395,000,000	(155,000,000)
Other operating activities, net	(908,000,000)	224,000,000
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	105,000,000	730,000,000
INVESTING ACTIVITIES
Cash received (used) in acquisitions, net of cash acquired	0	(185,000,000)
Net decrease (increase) in short-term investments, excluding acquisitions	(12,764,000,000)	119,000,000
Purchases of securities available for sale	(4,567,000,000)	(2,940,000,000)
Proceeds from sales of securities available for sale	583,000,000	0
Proceeds from prepayments and maturities of securities available for sale	2,933,000,000	1,457,000,000
Proceeds from prepayments and maturities of held-to-maturity securities	998,000,000	652,000,000
Purchases of held-to-maturity securities	(5,000,000)	(9,000,000)
Purchases of other investments	(96,000,000)	(30,000,000)
Proceeds from sales of other investments	26,000,000	28,000,000
Proceeds from prepayments and maturities of other investments	11,000,000	36,000,000
Net decrease (increase) in loans, excluding acquisitions, sales and transfers	(11,967,000,000)	(2,747,000,000)
Proceeds from sales of portfolio loans	91,000,000	146,000,000
Proceeds from corporate-owned life insurance	40,000,000	27,000,000
Purchases of premises, equipment, and software	(27,000,000)	(38,000,000)
Proceeds from sales of premises and equipment	0	1,000,000
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	(24,744,000,000)	(3,483,000,000)
FINANCING ACTIVITIES
Net increase (decrease) in deposits, excluding acquisitions	23,643,000,000	2,637,000,000
Net increase (decrease) in short-term borrowings	891,000,000	18,000,000
Net proceeds from issuance of long-term debt	2,501,000,000	1,351,000,000
Payments on long-term debt	(1,507,000,000)	(1,002,000,000)
Issuance of preferred shares	0	435,000,000
Open market Common Share repurchases	(117,000,000)	(346,000,000)
Employee equity compensation program Common Share repurchases	(36,000,000)	(33,000,000)
Net proceeds from reissuance of Common Shares	6,000,000	5,000,000
Cash dividends paid	(415,000,000)	(383,000,000)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	24,966,000,000	2,682,000,000
NET INCREASE (DECREASE) IN CASH AND DUE FROM BANKS	327,000,000	(71,000,000)
CASH AND DUE FROM BANKS AT BEGINNING OF PERIOD	732,000,000	678,000,000
CASH AND DUE FROM BANKS AT END OF PERIOD	1,059,000,000	607,000,000
Additional disclosures relative to cash flows:
Interest paid	465,000,000	619,000,000
Income taxes paid (refunded)	59,000,000	(43,000,000)
Noncash items:
Reduction of secured borrowing and related collateral	3,000,000	2,000,000
Loans transferred to portfolio from held for sale	25,000,000	5,000,000
Loans transferred to held for sale from portfolio	210,000,000	52,000,000
Loans transferred to OREO	93,000,000	16,000,000
CMBS risk retentions	27,000,000	9,000,000
ABS risk retentions	$ 9,000,000	$ 0

Basis of Presentation and Accou

Basis of Presentation and Accounting Policies	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Accounting Policies	1. Basis of Presentation and Accounting Policies The consolidated financial statements include the accounts of KeyCorp and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Some previously reported amounts have been reclassified to conform to current reporting practices. The consolidated financial statements include any voting rights entities in which we have a controlling financial interest. In accordance with the applicable accounting guidance for consolidations, we consolidate a VIE if we have: (i) a variable interest in the entity; (ii) the power to direct activities of the VIE that most significantly affect the entity’s economic performance; and (iii) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE (i.e., we are considered to be the primary beneficiary). Variable interests can include equity interests, subordinated debt, derivative contracts, leases, service agreements, guarantees, standby letters of credit, loan commitments, and other contracts, agreements, and financial instruments. See Note 10 (“ Variable Interest Entities ”) for information on our involvement with VIEs. We use the equity method to account for unconsolidated investments in voting rights entities or VIEs if we have significant influence over the entity’s operating and financing decisions (usually defined as a voting or economic interest of 20% to 50% , but not controlling). Unconsolidated investments in voting rights entities or VIEs in which we have a voting or economic interest of less than 20% are carried at the cost measurement alternative or at fair value. Investments held by our registered broker-dealer and investment company subsidiaries (principal investing entities and Real Estate Capital line of business) are carried at fair value. We believe that the unaudited consolidated interim financial statements reflect all adjustments of a normal recurring nature and disclosures that are necessary for a fair presentation of the results for the interim periods presented. The results of operations for the interim period are not necessarily indicative of the results of operations to be expected for the full year. The interim financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in our 2019 Form 10-K. In preparing these financial statements, subsequent events were evaluated through the time the financial statements were issued. Financial statements are considered issued when they are widely distributed to all shareholders and other financial statement users or filed with the SEC. Accounting Guidance Adopted in 2020 Measurement of Credit Losses on Financial Instruments (ASU 2016-13, ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-11, ASU 2020-02, ASU 2020-03) On January 1, 2020, we adopted ASU 2016-13, Financial Instruments - Credit Losses (ASC 326): Measurement of Credit Losses on Financial Instruments, which replaces the incurred-loss methodology that recognized losses when a probable threshold was met with an expected-loss methodology, specifically, recognizing current expected credit losses (CECL) for the remaining life of the asset at the time of origination or acquisition. The CECL methodology applies to loans, debt securities, and other financial assets and net investment in leases measured at amortized cost. It also applies to off-balance sheet credit exposures (loan commitments, standby letters of credit, financial guarantees, and other similar instruments). Assets in the scope of ASC 326 are presented at the net amount expected to be collected after deducting the allowance for credit losses from the amortized cost basis of the assets. ASC 326 also requires credit losses relating to available-for-sale debt securities that management does not intend to sell or believes that it is more likely than not they will be required to sell to be recorded through an allowance rather than a reduction of the carrying amount. ASC 326 replaces the purchased credit impaired concept of accounting, previously required under Subtopic 310-30, with a purchased financial assets with credit deterioration (PCD) concept. In accordance with ASC 326, we did not reassess whether recognized purchased credit impaired loans met the criteria of a PCD loan and modifications to individual acquired loans accounted for in pools were TDRs as of the date of adoption. At adoption, we elected to not maintain the pools of loans previously accounted for under Subtopic 310-30. The prospective application resulted in a $4 million adjustment to the amortized cost basis of PCD loans to reflect the addition to the allowance for loans and leases as of January 1, 2020. After the adjustment for the allowance for the loans and leases, the noncredit discount of $15 million will be accreted to interest income using the interest method based on the effective interest rate determined after the adjustment from credit losses as of January 1, 2020. The ASU requires use of a modified retrospective approach through a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. Results for reporting periods beginning after January 1, 2020, are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. We posted an adjusting entry decreasing retained earnings as of January 1, 2020, by $230 million , net of deferred taxes of $71 million , for the cumulative effect of adopting ASC 326. The main drivers of the adjustment to retained earnings are summarized in the following table. Pre-ASC 326 Adoption Impact of ASC 326 Adoption As Reported Under ASC 326 in millions December 31, 2019 January 1, 2020 Allowance for credit losses Commercial Commercial and industrial $ 551 $ (141 ) $ 410 Real estate — commercial mortgage 143 16 159 Real estate — construction 22 (7 ) 15 Commercial lease financing 35 8 43 Total commercial loans 751 (124 ) 627 Consumer Real estate — residential mortgage 7 77 84 Home equity loans 31 147 178 Consumer direct loans 34 63 97 Credit cards 47 35 82 Consumer indirect loans 30 6 36 Total consumer loans 149 328 477 Total ALLL — continuing operations 900 204 1,104 Discontinued operations 10 31 41 Total ALLL 910 235 1,145 Accrued expense and other liabilities 75 70 145 Total allowance for credit losses $ 985 $ 305 $ 1,290 In conjunction with the adoption of ASC 326, the following are additional disclosures about our significant accounting policies related to CECL. Allowance for Held-to-Maturity Securities Debt securities that we have the intent and ability to hold until maturity are classified as held-to-maturity and are carried at cost and adjusted for amortization of premiums and accretion of discounts using the interest method. This method produces a constant rate of return on the adjusted carrying amount. Management classifies the held-to-maturity portfolio into the following major security types: agency residential collateralized mortgage obligations, agency residential mortgage-backed securities, agency commercial mortgage-backed securities, asset backed securities, and other. Management measures expected credit losses on held-to-maturity securities on a collective basis by major security type. The estimate of expected losses considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. We do not measure expected credit losses on held-to-maturity securities in which historical credit loss information adjusted for current conditions and reasonable and supportable forecasts results in an expectation that nonpayment of the amortized cost basis is zero. All of our mortgage-backed securities are issued by U.S. government-sponsored enterprises or GNMA, are highly rated by major rating agencies and have a long history of no credit losses. Other securities are comprised of State of Israel bonds denominated and paid in U.S. dollars. Israel bonds have a long history of no credit losses. Additionally, as of June 30, 2020, the State of Israel's credit rating remains "stable" among Fitch, Moody's, and S&P (A+, A1, AA-). Allowance for Available-for-Sale Securities Debt securities that we intend to hold for an indefinite period of time but that may be sold in response to changes in interest rates, prepayment risk, liquidity needs, or other factors are classified as available-for-sale and reported at fair value. Realized gains and losses resulting from sales of securities using the specific identification method are included in “other income” on the income statement. Unrealized gains and losses (net of income taxes) are recorded in equity as a component of AOCI. For available-for-sale securities in an unrealized loss position, we first assess whether we intend to sell, or it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis. If either of these criteria regarding intent or requirement to sell is met, the security's amortized cost basis is written down to fair value in “other income” on the income statement. For debt securities that do not meet the aforementioned criteria, we evaluate whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, nature of the security, the underlying collateral, and the financial condition of the issuer, among other factors. If this assessment indicates a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of the cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for available-for-sale securities is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an allowance for available-for-sale securities is recognized in other comprehensive income. Changes in the allowance for available-for-sale securities are recorded as provision for (or reversal of) credit loss. Losses are charged against the allowance for available-for-sale securities when management believes the uncollectibility of an available-for-sale security is confirmed or when either criteria regarding intent or requirement to sell is met. Loans Accrued interest on loans is included in "other assets" on the balance sheet and is excluded from the calculation of the allowance for credit losses due to our charge-off policy to reverse accrued interest on nonperforming loans against interest income in a timely manner. We have not classified loans that receive a payment deferral or forbearance under a COVID-19 hardship relief program as nonperforming loans and continue to accrue and recognize interest income during the period of the deferral. We, therefore, recognize an allowance for credit losses for accrued interest receivable amounts that result from deferred payments under a COVID-19 hardship relief program because those amounts would not be considered to be written off in a timely manner. As of June 30, 2020, the allowance for credit losses on accrued interest receivable was immaterial. Expected credit losses on net investments in leases, including any unguaranteed residual asset, are included in the ALLL. Purchased Credit Deteriorated (PCD) Loans In addition to originating loans, we also acquire loans through portfolio purchases or acquisitions of other financial services companies. Purchased loans that have evidence of more than insignificant credit deterioration since origination are deemed PCD loans. In accordance with ASC 326, we did not reassess whether recognized purchased credit impaired loans met the criteria of a PCD loan as of the date of adoption. PCD loans are initially recorded at fair value along with an allowance for credit losses determined using the same methodology as originated loans. The sum of the loan's purchase price and allowance for credit losses becomes its initial amortized cost basis. The difference between the initial amortized cost basis and the par value of the loan is a noncredit discount or premium, which is amortized into interest income over the life of the loan. Subsequent changes to the allowance for credit losses are recorded through provision for credit losses. Nonperforming Loans Nonperforming loans are loans for which we do not accrue interest income, and include commercial and consumer loans and leases, as well as current year TDRs and nonaccruing TDR loans from prior years. Nonperforming loans do not include loans held for sale. Once a loan is designated nonaccrual, the interest accrued but not collected is reversed against interest income, and payments subsequently received are applied to principal until qualifying for return to accrual. Allowance for Loan and Lease Losses We estimate the ALLL using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The ALLL is measured on a collective (pool) basis when similar risk characteristics exist. Our portfolio segments include commercial and consumer. Each of these two segments comprises multiple loan classes. Classes are characterized by similarities in initial measurement, risk attributes, and the manner in which we monitor and assess credit risk. The commercial segment is composed of commercial and industrial, commercial real estate, and commercial lease financing loan classes. The consumer lending segment is composed of residential mortgage, home equity, consumer direct, credit card, and consumer indirect loan classes. The ALLL represents our current estimate of lifetime credit losses inherent in our loan portfolio at the balance sheet date. In determining the ALLL, we estimate expected future losses for the loan's entire contractual term adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals, and modifications. The ALLL is the sum of three components: (i) asset specific/ individual loan reserves; (ii) quantitative (formulaic or pooled) reserves; and (iii) qualitative (judgmental) reserves. Asset Specific / Individual Component Loans that do not share risk characteristics are evaluated on an individual basis. Loans evaluated individually are not included in the collective evaluation. We have elected to apply the practical expedient to measure expected credit losses of a collateral dependent asset using the fair value of the collateral, less any costs to sell, when foreclosure is not probable, when repayment of the loan is expected to be provided substantially through the operation or sale of the collateral, and the borrower is experiencing financial difficulty. Individual reserves are determined as follows: • For commercial non-accruing loans greater than or equal to a defined dollar threshold, individual reserves are determined based on an analysis of the present value of the loan's expected future cash flows, the loan's observable market value, or the fair value of the collateral less costs to sell. • For commercial non-accruing loans below the defined dollar threshold, an established LGD percentage is multiplied by the loan balance and the results are aggregated for purposes of measuring specific reserve impairment. • The population of individually assessed consumer loans includes loans deemed collateral dependent, in addition to all TDRs. The expected loss for these loans is estimated based on the present value of the loan's expected future cash flows, except in instances where the loan is collateral dependent, in which case the loan is written down based on the collateral's fair market value less costs to sell. Quantitative Component We use a non-DCF factor-based approach to estimate expected credit losses that include component PD/LGD/EAD models as well as less complex estimation methods for smaller loan portfolios. • PD: This component model is used to estimate the likelihood that a borrower will cease making payments as agreed. The major contributors to this are the borrower credit attributes and macro-economic trends. The objective of the PD model is to produce default likelihood forecasts based on the observed loan-level information and projected paths of macroeconomic variables. • LGD: This component model is used to estimate the loss on a loan once a loan is in default. • EAD: Estimates the loan balance at the time the borrower stops making payments. For all term loans, an amortization based formulaic approach is used for account level EAD estimates. We calculate EAD using a portfolio specific method in each of our revolving product portfolios. For line products that are unconditionally cancellable, the balances will either use a paydown curve or be held flat through the life of the loan. Additional information about the critical estimates and judgments we make in developing these models is provided in the section “Allowance for loan and lease losses” under the heading “Critical Accounting Policies and Estimates” in Item 2 of this report. Qualitative Component The ALLL also includes identified qualitative factors related to idiosyncratic risk factors, changes in current economic conditions that may not be reflected in quantitatively derived results, and other relevant factors to ensure the ALLL reflects our best estimate of current expected credit losses. While our reserve methodologies strive to reflect all relevant risk factors, there continues to be uncertainty associated with, but not limited to, potential imprecision in the estimation process due to the inherent time lag of obtaining information and normal variations between estimates and actual outcomes. We provide additional reserves that are designed to provide coverage for losses attributable to such risks. The ALLL also includes factors that may not be directly measured in the determination of individual or collective reserves. Such qualitative factors may include: • The nature and volume of the institution’s financial assets; • The existence, growth, and effect of any concentrations of credit; • The volume and severity of past due financial assets, the volume of nonaccrual assets, and the volume and severity of adversely classified or graded assets; • The value of the underlying collateral for loans that are not collateral dependent; • The institution’s lending policies and procedures, including changes in underwriting standards and practices for collections, write-offs, and recoveries; • The quality of the institution’s credit review function; • The experience, ability, and depth of the institution’s lending, investment, collection, and other relevant management and staff; • The effect of other external factors such as the regulatory, legal and technological environments; competition; and events such as natural disasters; and • Actual and expected changes in international, national, regional, and local economic and business conditions and developments in which the institution operates that affect the collectability of financial assets. Liability for Credit Losses on Lending-Related Commitments The liability for credit losses on lending-related commitments, such as letters of credit and unfunded loan commitments, is included in “accrued expense and other liabilities” on the balance sheet. Expected credit losses are estimated over the contractual period in which we are exposed to credit risk via a contractual obligation unless that obligation is unconditionally cancellable by us. The liability for credit losses on lending-related commitments is adjusted as a provision for credit losses. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated useful life. Consistent with our estimation process on our loan and lease portfolio, we use a non-DCF factor-based approach to estimate expected credit losses that include component PD/LGD/EAD models as well as less complex estimation methods for smaller portfolios. Allowance for Credit Losses on Other Financial Assets The allowance for credit losses on other financial assets, such as other receivables and servicing advances, is determined based on historical loss information and other available indicators. If such information does not indicate any expected credit losses, Key may estimate the allowance for credit losses on other financial assets to be zero or close to zero. As of June 30, 2020, the allowance for credit losses on other financial assets was immaterial. Simplifying the Test for Goodwill Impairment (ASU 2017-04) On January 1, 2020, we adopted ASU 2017-04. The ASU amends ASC Topic 350, Intangibles - Goodwill and Other and eliminates the second step of the test for goodwill impairment. Goodwill represents the amount by which the cost of net assets acquired in a business combination exceeds their f air value. Goodwill is assigned to reporting units as of the acquisition date based on the expected benefit to such reporting unit from the synergies of the business combination. Goodwill is not amortized. Goodwill is tested at the reporting unit level for impairment, at least annually as of October 1, or when indicators of impairment exist. When indicators of impairment exist we may look to both quantitative and qualitative information to determine whether or not it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount. Factors considered in the assessment include, but are not limited to, macroeconomic conditions, industry and market considerations, stock performance, financial performance of the reporting units, and previous results of goodwill impairment tests. When it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount a quantitative test is required. Under the new accounting guidance, the quantitative analysis requires the estimated fair value of each reporting unit to be compared to its carrying amount, including goodwill. If the estimated fair value of the reporting unit is less than its carrying value, an impairment charge would be recorded for the excess, not to exceed the amount of goodwill allocated to the reporting unit. The adoption of this accounting guidance must be applied prospectively and is not expected to have a material effect on our financial condition or results of operations. Reference Rate Reform (Topic 848) Facilitation of the Effects of Reference Rate Reform on Financial Reporting (ASU 2020-04) We adopted ASU 2020-04 upon issuance. The amendments provide optional expedients and exceptions for certain contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of rate reform. The guidance is effective from the date of issuance until December 31, 2022. The guidance permits Key not to apply modification accounting or remeasure lease payments in lease contracts if the changes to the contract are related to the discontinuation of the reference rate. If certain criteria are met, the amendments also allow exceptions to the dedesignation criteria of the hedging relationship and the assessment of hedge effectiveness during the transition period. It also allows Key to make a one time election to sell, transfer, or both sell and transfer debt securities classified as held to maturity that reference a rate affected by reference rate reform and that are classified as held to maturity before January 1, 2020. This one time election may be made at any time after March 12, 2020, but no later than December 31, 2022. Key has not yet made a determination on whether it will make this election. At the time of adoption, the guidance did not have a significant impact on Key’s financial condition and results of operations. We will continue to assess the impact as the reference rate transition occurs over the next two years.

Earnings Per Common Share

Earnings Per Common Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Common Share	2. Earnings Per Common Share Basic earnings per share is the amount of earnings (adjusted for dividends declared on our preferred stock) available to each Common Share outstanding during the reporting periods. Diluted earnings per share is the amount of earnings available to each Common Share outstanding during the reporting periods adjusted to include the effects of potentially dilutive Common Shares. Potentially dilutive Common Shares include stock options and other stock-based awards. Potentially dilutive Common Shares are excluded from the computation of diluted earnings per share in the periods where the effect would be antidilutive. Our basic and diluted earnings per Common Share are calculated as follows: Three months ended June 30, Six months ended June 30, dollars in millions, except per share amounts 2020 2019 2020 2019 EARNINGS Income (loss) from continuing operations $ 185 $ 423 $ 330 $ 829 Less: Net income (loss) attributable to noncontrolling interests — — — — Income (loss) from continuing operations attributable to Key 185 423 330 829 Less: Dividends on Preferred Stock 26 20 53 40 Income (loss) from continuing operations attributable to Key common shareholders 159 403 277 789 Income (loss) from discontinued operations, net of taxes 2 2 3 3 Net income (loss) attributable to Key common shareholders $ 161 $ 405 $ 280 $ 792 WEIGHTED-AVERAGE COMMON SHARES Weighted-average Common Shares outstanding (000) 967,147 999,163 967,380 1,003,047 Effect of Common Share options and other stock awards 4,994 8,801 6,892 9,318 Weighted-average Common Shares and potential Common Shares outstanding (000) (a) 972,141 1,007,964 974,272 1,012,365 EARNINGS PER COMMON SHARE Income (loss) from continuing operations attributable to Key common shareholders $ .16 $ .40 $ .29 $ .79 Income (loss) from discontinued operations, net of taxes — — — — Net income (loss) attributable to Key common shareholders (b) .17 .40 .29 .79 Income (loss) from continuing operations attributable to Key common shareholders — assuming dilution $ .16 $ .40 $ .28 $ .78 Income (loss) from discontinued operations, net of taxes — assuming dilution — — — — Net income (loss) attributable to Key common shareholders — assuming dilution (b) .17 .40 .29 .78 (a) Assumes conversion of Common Share options and other stock awards and/or convertible preferred stock, as applicable. (b) EPS may not foot due to rounding.

Loan Portfolio

Loan Portfolio	6 Months Ended
	Jun. 30, 2020
Loans Receivables [Abstract]
Loan Portfolio	3. Loan Portfolio Loan Portfolio by Portfolio Segment and Financing Receivable (a) in millions June 30, 2020 December 31, 2019 Commercial and industrial (b) $ 58,297 $ 48,295 Commercial real estate: Commercial mortgage 13,465 13,491 Construction 1,919 1,558 Total commercial real estate loans 15,384 15,049 Commercial lease financing (c) 4,524 4,688 Total commercial loans 78,205 68,032 Residential — prime loans: Real estate — residential mortgage 8,149 7,023 Home equity loans 9,782 10,274 Total residential — prime loans 17,931 17,297 Consumer direct loans 4,327 3,513 Credit cards 974 1,130 Consumer indirect loans 4,722 4,674 Total consumer loans 27,954 26,614 Total loans (d) $ 106,159 $ 94,646 (a) Accrued interest of $225 million and $244 million at June 30, 2020 , and December 31, 2019 , respectively, presented in "other assets" on the Consolidated Balance Sheets is excluded from the amortized cost basis disclosed in this table. (b) Loan balances include $132 million and $144 million of commercial credit card balances at June 30, 2020 , and December 31, 2019 , respectively. (c) Commercial lease financing includes receivables held as collateral for a secured borrowing of $18 million and $15 million at June 30, 2020 , and December 31, 2019 , respectively. Principal reductions are based on the cash payments received from these related receivables. Additional information pertaining to this secured borrowing is included in Note 20 (“ Long-Term Debt ”) beginning on page 163 of our 2019 Form 10-K. (d) Total loans exclude loans of $780 million at June 30, 2020 , and $865 million at December 31, 2019

Asset Quality

Asset Quality	6 Months Ended
	Jun. 30, 2020
Credit Loss [Abstract]
Asset Quality	4. Asset Quality ALLL We estimate the appropriate level of the ALLL on at least a quarterly basis. The methodology is described in Note 1 (" Basis of Presentation and Accounting Policies ") under the heading "Allowance for Loan and Lease Losses" of this report. The ALLL at June 30, 2020 , represents our current estimate of lifetime credit losses inherent in the loan portfolio at that date. The changes in the ALLL by loan category for the periods indicated are as follows: Three months ended June 30, 2020 : in millions March 31, 2020 Provision Charge-offs Recoveries June 30, 2020 Commercial and Industrial $ 542 $ 249 $ (71 ) $ 5 $ 725 Commercial real estate: Real estate — commercial mortgage 207 87 (2 ) — 292 Real estate — construction 25 16 — — 41 Total commercial real estate loans 232 103 (2 ) — 333 Commercial lease financing 44 14 (4 ) 1 55 Total commercial loans 818 366 (77 ) 6 1,113 Real estate — residential mortgage 89 14 (2 ) — 101 Home equity loans 184 14 (2 ) 1 197 Consumer direct loans 116 22 (10 ) 2 130 Credit cards 104 13 (12 ) 2 107 Consumer indirect loans 48 16 (7 ) 3 60 Total consumer loans 541 79 (33 ) 8 595 Total ALLL — continuing operations 1,359 445 (a) (110 ) 14 1,708 Discontinued operations 43 — (2 ) 2 43 Total ALLL — including discontinued operations $ 1,402 $ 445 $ (112 ) $ 16 $ 1,751 (a) Excludes a provision for losses on lending-related commitments of $37 million . Three months ended June 30, 2019 : in millions March 31, 2019 Provision Charge-offs Recoveries June 30, 2019 Commercial and Industrial $ 530 $ 43 $ (30 ) $ 6 $ 549 Commercial real estate: Real estate — commercial mortgage 144 (5 ) (1 ) 1 139 Real estate — construction 28 (4 ) — — 24 Total commercial real estate loans 172 (9 ) (1 ) 1 163 Commercial lease financing 35 14 (16 ) 2 35 Total commercial loans 737 48 (47 ) 9 747 Real estate — residential mortgage 8 — (1 ) — 7 Home equity loans 36 4 (6 ) 2 36 Consumer direct loans 33 7 (10 ) 2 32 Credit cards 47 7 (12 ) 2 44 Consumer indirect loans 22 6 (8 ) 4 24 Total consumer loans 146 24 (37 ) 10 143 Total ALLL — continuing operations 883 72 (a) (84 ) 19 890 Discontinued operations 13 2 (4 ) 1 12 Total ALLL — including discontinued operations $ 896 $ 74 $ (88 ) $ 20 $ 902 (a) Excludes a provision for losses on lending-related commitments of $2 million . Six months ended June 30, 2020 : in millions December 31, 2019 Impact of ASC 326 Adoption January 1, 2020 Provision Charge-offs Recoveries June 30, 2020 Commercial and Industrial $ 551 $ (141 ) $ 410 $ 436 $ (131 ) $ 10 $ 725 Commercial real estate: Real estate — commercial mortgage 143 16 159 137 (5 ) 1 292 Real estate — construction 22 (7 ) 15 26 — — 41 Total commercial real estate loans 165 9 174 163 (5 ) 1 333 Commercial lease financing 35 8 43 17 (6 ) 1 55 Total commercial loans 751 (124 ) 627 616 (142 ) 12 1,113 Real estate — residential mortgage 7 77 84 19 (2 ) — 101 Home equity loans 31 147 178 22 (6 ) 3 197 Consumer direct loans 34 63 97 51 (22 ) 4 130 Credit cards 47 35 82 44 (23 ) 4 107 Consumer indirect loans 30 6 36 32 (16 ) 8 60 Total consumer loans 149 328 477 168 (69 ) 19 595 Total ALLL — continuing operations 900 204 1,104 784 (a) (211 ) 31 1,708 Discontinued operations 10 31 41 3 (4 ) 3 43 Total ALLL — including discontinued operations $ 910 $ 235 $ 1,145 $ 787 $ (215 ) $ 34 $ 1,751 (a) Excludes a provision for losses on lending-related commitments of $57 million . Six months ended June 30, 2019 : in millions December 31, 2018 Provision Charge-offs Recoveries June 30, 2019 Commercial and Industrial $ 532 $ 67 $ (131 ) $ 10 $ 549 Commercial real estate: Real estate — commercial mortgage 142 1 (5 ) 1 139 Real estate — construction 33 (5 ) — — 24 Total commercial real estate loans 175 (4 ) (5 ) 1 163 Commercial lease financing 36 20 (6 ) 1 35 Total commercial loans 743 83 (142 ) 12 747 Real estate — residential mortgage 7 1 (2 ) — 7 Home equity loans 35 7 (6 ) 3 36 Consumer direct loans 30 19 (22 ) 4 32 Credit cards 48 15 (23 ) 4 44 Consumer indirect loans 20 11 (16 ) 8 24 Total consumer loans 140 53 (69 ) 19 143 Total ALLL — continuing operations 883 136 (211 ) 31 890 Discontinued operations 14 4 (4 ) 3 12 Total ALLL — including discontinued operations $ 897 $ 140 $ (215 ) $ 34 $ 902 As described in Note 1 (" Basis of Presentation and Accounting Policies "), we estimate the ALLL using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. In our estimation of expected credit losses, we use a two year reasonable and supportable period across all products. Following this two year period in which supportable forecasts can be generated, for all modeled loan portfolios, we revert expected credit losses to a level that is consistent with our historical information by reverting the macroeconomic variables (model inputs) to their long run average. We revert to historical loss rates for less complex estimation methods for smaller portfolios. A 20 year fixed length look back period is used to calculate the long run average of the macroeconomic variables. A four quarter reversion period is used where the macroeconomic variables linearly revert to their long run average following the two year reasonable and supportable period. We develop our reasonable and supportable forecasts using relevant data including, but not limited to, changes in economic output, unemployment rates, property values, and other factors associated with the credit losses on financial assets. Some macroeconomic variables apply to all portfolio segments, while others are more portfolio specific. The following table discloses key macroeconomic variables for each loan portfolio. Segment Portfolio Key Macroeconomic Variables (a) Commercial Commercial and industrial BBB corporate bond rate (spread), GDP, industrial production, and unemployment rate Commercial real estate BBB corporate bond rate (spread), property and real estate price indices, and unemployment rate Commercial lease financing BBB corporate bond rate (spread), GDP, and unemployment rate Consumer Real estate — residential mortgage GDP, home price index, unemployment rate, and 30 year mortgage rate Home equity Home price index, unemployment rate, and 30 year mortgage rate Consumer direct Unemployment rate and U.S. household income Consumer indirect New vehicle sales and unemployment rate Credit cards Unemployment rate and U.S. household income Discontinued operations Unemployment rate (a) Variables include all transformations and interactions with other risk drivers. Additionally, variables may have varying impacts at different points in the economic cycle. In addition to macroeconomic drivers, portfolio attributes such as remaining term, outstanding balance, risk ratings, FICO, LTV, and delinquency also drive ALLL changes. Our ALLL models were designed to capture the correlation between economic and portfolio changes. As such, evaluating shifts in individual portfolio attributes and macroeconomic variables in isolation may not be indicative of past or future performance. Economic Outlook As of June 30, 2020 , the COVID-19 pandemic has continued to create unprecedented economic stress and uncertainty in the U.S. and globally. We leveraged the Moody’s May 2020 Consensus forecast to estimate our expected credit losses as of June 30, 2020 . This forecast considered the global economic fallout from the ongoing pandemic as well as the United States' monetary and fiscal response. We determined such forecast to be a reasonable view of the outlook for the global economy given the available information at current quarter end. The baseline scenario reflects a notable economic slowdown over the next two years in markets in which we operate. U.S. GDP was forecasted to decline 34% at an annualized rate in the second quarter of 2020 but improves in the second half of the year to decline approximately 5% in all of 2020. GDP is not expected to return to pre-pandemic levels until late 2021. The national unemployment rate forecast was adjusted to capture the expected impact from the fiscal stimulus, which had the effect of boosting personal income, partially offsetting the impact of job loss. The adjusted unemployment rate forecast peaks at 10.5% in the third quarter of 2020 and is expected to remain in the upper-single digits throughout 2021. While cognizant of potentially more adverse economic outlooks, we also considered that the government’s stimulus efforts and programs instituted by the Federal Reserve will partially offset the economic contraction, as evidenced by the temporary disconnect between employment and personal income during the second quarter of 2020. As such, the scenario selected reasonably captured the ultimate expected loss experience for our portfolio as of June 30, 2020 . To the extent we identified credit risk considerations that were not captured by the third-party economic forecast, we addressed the risk through management’s qualitative adjustments to the ALLL. As a result of the unprecedented economic uncertainty caused by the COVID-19 pandemic, our future loss estimates may vary considerably from our June 30, 2020 , assumptions. Commercial Loan Portfolio The ALLL from continuing operations for the commercial segment increased by $486 million , or 77.5% , from March 31, 2020 . The overall increase in the allowance is driven by updated economic forecasts that capture additional deterioration triggered by the global COVID-19 pandemic. The primary drivers in changes to the economic forecast are (1) an increase in unemployment levels, which impacts all commercial portfolios; and (2) real estate price indices, which predominately impact our commercial real estate portfolio. We continue to closely monitor oil & gas price forecasts and made several downgrades during the quarter aligning with the semi-annual borrowing base re-determination process. As of June 30, 2020 , we concluded that no ALLL is necessary for $8.0 billion in outstanding PPP loans as they are 100% guaranteed by the SBA. Consumer Loan Portfolio The ALLL from continuing operations for the consumer segment increased by $118 million , or 24.7% , from March 31, 2020 . The overall increase in the allowance is driven by updated economic forecasts that capture additional deterioration triggered by the global COVID-19 pandemic. The main driver in the change in the economic forecast is an increase in unemployment levels, which is most impactful for our credit card and indirect loan portfolios. Deterioration in the HPI outlook is also contributing to the ALLL increase for the residential mortgage and home equity segments. Incremental credit risk considerations as a result of the economic stress and related borrower assistance programs are addressed through qualitative adjustments in cases where these are not already captured by the economic scenarios and quantitative estimates. As it relates to changes in the ALLL due to portfolio factors, minimal shifts are largely driven by targeted portfolio growth across several segments and ongoing portfolio seasoning activity. Credit Risk Profile The prevalent risk characteristic for both commercial and consumer loans is the risk of loss arising from an obligor’s inability or failure to meet contractual payment or performance terms. Evaluation of this risk is stratified and monitored by the loan risk rating grades assigned for the commercial loan portfolios and the refreshed FICO score assigned for the consumer loan portfolios. The internal risk grades assigned to loans follow our definitions of Pass and Criticized, which are consistent with published definitions of regulatory risk classifications. Loans with a pass rating represent those loans not classified on our rating scale for problem credits, as minimal credit risk has been identified. Criticized loans are those loans that either have a potential weakness deserving management's close attention or have a well-defined weakness that may put full collection of contractual cash flows at risk. Borrower FICO scores provide information about the credit quality of our consumer loan portfolio as they provide an indication as to the likelihood that a debtor will repay its debts. The scores are obtained from a nationally recognized consumer rating agency and are presented in the tables below at the dates indicated. Most extensions of credit are subject to loan grading or scoring. Loan grades are assigned at the time of origination, verified by credit risk management, and periodically re-evaluated thereafter. This risk rating methodology blends our judgment with quantitative modeling. Commercial loans generally are assigned two internal risk ratings. The first rating reflects the probability that the borrower will default on an obligation; the second rating reflects expected recovery rates on the credit facility. Default probability is determined based on, among other factors, the financial strength of the borrower, an assessment of the borrower’s management, the borrower’s competitive position within its industry sector, and our view of industry risk in the context of the general economic outlook. Types of exposure, transaction structure, and collateral, including credit risk mitigants, affect the expected recovery assessment. Commercial Credit Exposure Credit Risk Profile by Creditworthiness Category and Vintage (a) As of June 30, 2020 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year and Internal Risk Rating in millions 2020 2019 2018 2017 2016 Prior Total Commercial and Industrial Risk Rating: Pass $ 12,011 $ 6,386 $ 5,004 $ 3,290 $ 2,393 $ 3,996 $ 22,395 $ 141 $ 55,616 Criticized (Accruing) 24 60 164 164 70 169 1,608 18 2,277 Criticized (Nonaccruing) 3 12 28 31 38 58 234 — 404 Total commercial and industrial 12,038 6,458 5,196 3,485 2,501 4,223 24,237 159 58,297 Real estate — commercial mortgage Risk Rating: Pass 1,087 3,303 1,955 1,040 963 3,600 1,039 37 13,024 Criticized (Accruing) — 8 29 65 34 193 16 5 350 Criticized (Nonaccruing) — — 1 3 4 78 4 1 91 Total real estate — commercial mortgage 1,087 3,311 1,985 1,108 1,001 3,871 1,059 43 13,465 Real estate — construction Risk Rating: Pass 205 603 721 239 68 21 18 3 1,878 Criticized (Accruing) — 4 8 — 24 3 1 — 40 Criticized (Nonaccruing) — — — — 1 — — 1 Total real estate — construction 205 607 729 239 92 25 19 3 1,919 Commercial lease financing Risk Rating: Pass 503 1,275 702 640 307 1,030 — — 4,457 Criticized (Accruing) 6 8 12 11 10 11 — — 58 Criticized (Nonaccruing) — — 2 3 4 — — — 9 Total commercial lease financing 509 1,283 716 654 321 1,041 — 4,524 Total commercial loans $ 13,839 $ 11,659 $ 8,626 $ 5,486 $ 3,915 $ 9,160 $ 25,315 $ 205 $ 78,205 (a) Accrued interest of $121 million , presented in Other Assets on the Consolidated Balance Sheets, was excluded from the amortized cost basis disclosed in this table. Consumer Credit Exposure Credit Risk Profile by FICO Score and Vintage (a) As of June 30, 2020 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year and FICO Score in millions 2020 2019 2018 2017 2016 Prior Total Real estate — residential mortgage FICO Score: 750 and above $ 1,681 $ 1,878 $ 294 $ 320 $ 648 $ 1,523 — — $ 6,344 660 to 749 348 398 96 67 115 402 — — 1,426 Less than 660 17 30 24 12 32 193 — — 308 No Score — 2 3 7 2 57 — — 71 Total real estate — residential mortgage 2,046 2,308 417 406 797 2,175 — — 8,149 Home equity loans FICO Score: 750 and above 386 450 190 217 206 901 $ 2,809 $ 406 5,565 660 to 749 176 275 125 129 106 428 1,760 196 3,195 Less than 660 19 54 32 32 37 164 604 65 1,007 No Score 2 2 1 — — 3 5 2 15 Total home equity loans 583 781 348 378 349 1,496 5,178 669 9,782 Consumer direct loans FICO Score: 750 and above 1,113 1,214 146 44 24 69 127 — 2,737 660 to 749 274 351 101 32 18 39 270 — 1,085 Less than 660 10 43 28 11 7 13 98 — 210 No Score 23 49 26 17 9 13 158 — 295 Total consumer direct loans 1,420 1,657 301 104 58 134 653 — 4,327 Credit cards FICO Score: 750 and above — — — — — — 450 — 450 660 to 749 — — — — — — 416 — 416 Less than 660 — — — — — — 107 — 107 No Score — — — — — — 1 — 1 Total credit cards — — — — — — 974 — 974 Consumer indirect loans FICO Score: 750 and above 557 1,056 457 254 107 97 — — 2,528 660 to 749 336 717 303 137 57 73 — — 1,623 Less than 660 69 208 129 74 37 39 — — 556 No Score 15 — — — — — — — 15 Total consumer indirect loans 977 1,981 889 465 201 209 — — 4,722 Total consumer loans $ 5,026 $ 6,727 $ 1,955 $ 1,353 $ 1,405 $ 4,014 $ 6,805 $ 669 $ 27,954 (a) Accrued interest of $104 million , presented in Other Assets on the Consolidated Balance Sheets, was excluded from the amortized cost basis disclosed in this table. Nonperforming and Past Due Loans Our policies for determining past due loans, placing loans on nonaccrual, applying payments on nonaccrual loans, and resuming accrual of interest for our commercial and consumer loan portfolios are disclosed in Note 1 (” Basis of Presentation and Accounting Policies ”) and Note 1 (“ Summary of Significant Accounting Policies ”) under the heading “Nonperforming Loans” beginning on page 101 of our 2019 Form 10-K. Under the CARES Act as well as banking regulator interagency guidance, certain loan modifications to borrowers experiencing financial distress as a result of the economic impacts created by the COVID-19 pandemic may not be required to be reported as past due and nonperforming. For COVID-19 related loan modifications which occurred from March 1, 2020, through June 30, 2020, and met the loan modification criteria under either the CARES Act or the criteria specified by the regulatory agencies, we have elected to re-age to current status all commercial loans and consumer loans that are not secured by real-estate and freeze the delinquency status of consumer real estate secured loans as of the modification or forbearance grant date. At June 30, 2020, $3.9 billion of loan modifications and forbearances made under the criteria of either the CARES Act or banking regulator interagency guidance were not reported as nonperforming. The following aging analysis of past due and current loans as of June 30, 2020 , and December 31, 2019 , provides further information regarding Key’s credit exposure. Aging Analysis of Loan Portfolio (a) June 30, 2020 Current 30-59 Days Past Due (b) 60-89 Days Past Due (b) 90 and Greater Days Past Due (b) Non-performing Loans (c) Total Past Due and Non-performing Loans (c) Total Loans (d) in millions LOAN TYPE Commercial and industrial $ 57,659 $ 116 $ 71 $ 47 $ 404 $ 638 $ 58,297 Commercial real estate: Commercial mortgage 13,269 52 41 12 91 196 13,465 Construction 1,916 — — 2 1 3 1,919 Total commercial real estate loans 15,185 52 41 14 92 199 15,384 Commercial lease financing 4,472 40 — 3 9 52 4,524 Total commercial loans $ 77,316 $ 208 $ 112 $ 64 $ 505 $ 889 $ 78,205 Real estate — residential mortgage $ 8,039 $ 16 $ 5 $ — $ 89 $ 110 $ 8,149 Home equity loans 9,592 31 12 6 141 190 9,782 Consumer direct loans 4,306 9 4 5 3 21 4,327 Credit cards 957 3 3 9 2 17 974 Consumer indirect loans 4,683 13 3 3 20 39 4,722 Total consumer loans $ 27,577 $ 72 $ 27 $ 23 $ 255 $ 377 $ 27,954 Total loans $ 104,893 $ 280 $ 139 $ 87 $ 760 $ 1,266 $ 106,159 (a) Amounts in table represent amortized cost and exclude loans held for sale. (b) Accrued interest of $225 million presented in “other assets” on the Consolidated Balance Sheets is excluded from the amortized cost basis disclosed in this table. (c) PCI loans meeting nonperforming criteria were historically excluded from Key's nonperforming disclosures. As a result of CECL implementation on January 1, 2020, PCI loans became PCD loans. PCD loans that met the definition of nonperforming are now included in nonperforming disclosures. (d) Net of unearned income, net of deferred fees and costs, and unamortized discounts and premiums. December 31, 2019 Current 30-59 Days Past Due (b) 60-89 Days Past Due (b) 90 and Greater Days Past Due (b) Non-performing Loans Total Past Due and Non-performing Loans Purchased Credit Impaired Total Loans in millions LOAN TYPE Commercial and industrial $ 47,768 $ 110 $ 52 $ 53 $ 264 $ 479 48 $ 48,295 Commercial real estate: Commercial mortgage 13,258 8 5 13 83 109 124 13,491 Construction 1,551 3 — 1 2 6 1 1,558 Total commercial real estate loans 14,809 11 5 14 85 115 125 15,049 Commercial lease financing 4,647 22 11 2 6 41 — 4,688 Total commercial loans $ 67,224 $ 143 $ 68 $ 69 $ 355 $ 635 173 $ 68,032 Real estate — residential mortgage $ 6,705 $ 7 $ 5 $ 1 $ 48 $ 61 $ 257 $ 7,023 Home equity loans 10,071 30 10 5 145 190 13 10,274 Consumer direct loans 3,484 10 5 7 4 26 3 3,513 Credit cards 1,104 6 5 12 3 26 — 1,130 Consumer indirect loans 4,609 32 8 3 22 65 — 4,674 Total consumer loans $ 25,973 $ 85 $ 33 $ 28 $ 222 $ 368 $ 273 $ 26,614 Total loans $ 93,197 $ 228 $ 101 $ 97 $ 577 $ 1,003 $ 446 $ 94,646 (a) Amounts in table represent recorded investment and exclude loans held for sale. Recorded investment represents the principal amount of the loan increased or decreased by net deferred loan fees and costs, and unamortized premium or discount, and reflects direct charge-offs. (b) Past due loan amounts exclude PCI, even if contractually past due (or if we do not expect to collect principal or interest in full based on the original contractual terms), as we are currently accreting income over the remaining term of the loans. At June 30, 2020 , the approximate carrying amount of our commercial nonperforming loans outstanding represented 79% of their original contractual amount owed, total nonperforming loans outstanding represented 80% of their original contractual amount owed, and nonperforming assets in total were carried at 88% of their original contractual amount owed. Nonperforming loans reduced expected interest income by $7 million and $13 million for the three and six months ended June 30, 2020 , respectively, and $9 million and $17 million for the three and six months ended June 30, 2019 , respectively. The amortized cost basis of nonperforming loans on nonaccrual status for which there is no related allowance for credit losses was $403 million at June 30, 2020 . Collateral-dependent Financial Assets We classify financial assets as collateral-dependent when our borrower is experiencing financial difficulty, and we expect repayment to be provided substantially through the operation or sale of the collateral. Our commercial loans have collateral that includes commercial machinery, commercial properties, and commercial real estate construction projects. Our consumer loans have collateral that includes residential real estate, automobiles, boats, and RVs. There were no significant changes in the extent to which collateral secures our collateral-dependent financial assets during the three months ended June 30, 2020 . TDRs We classify loan modifications as TDRs when a borrower is experiencing financial difficulties and we have granted a concession without commensurate financial, structural, or legal consideration. Our loan modifications are handled on a case-by-case basis and are negotiated to achieve mutually agreeable terms that maximize loan collectability and meet the borrower’s financial needs. Under the CARES Act as well as banking regulator interagency guidance, certain loan modifications to borrowers experiencing financial distress as a result of the economic impacts created by the COVID-19 pandemic may not be required to be treated as TDRs under U.S GAAP. We elected to suspend TDR accounting for $3.9 billion of COVID-19 related loan modifications as of June 30, 2020 as such loan modifications met the criteria under either the CARES Act or banking regulator interagency guidance. Commitments outstanding to lend additional funds to borrowers whose loan terms have been modified in TDRs were $1 million and $5 million at June 30, 2020 , and December 31, 2019 , respectively. The consumer TDR other concession category in the table below primarily includes those borrowers’ debts that are discharged through Chapter 7 bankruptcy and have not been formally re-affirmed. At June 30, 2020 , and December 31, 2019 , the recorded investment of consumer residential mortgage loans in the process of foreclosure was approximately $63 million and $97 million , respectively. The following table shows the post-modification outstanding recorded investment by concession type for our commercial and consumer accruing and nonaccruing TDRs that occurred during the periods indicated: Three Months Ended June 30, Six Months Ended June 30, in millions 2020 2019 2020 2019 Commercial loans: Extension of Maturity Date 8 $ 6 $ 8 $ 6 Payment or Covenant Modification/Deferment — 18 — 18 Bankruptcy Plan Modification — 11 — 11 Increase in new commitment or new money 4 — 4 — Total 12 $ 35 $ 12 $ 35 Consumer loans: Interest rate reduction $ 1 $ 4 $ 9 $ 8 Other 5 9 13 16 Total $ 6 $ 13 $ 22 $ 24 Total TDRs $ 18 $ 48 $ 34 $ 59 The following table summarizes the change in the post-modification outstanding recorded investment of our accruing and nonaccruing TDRs during the periods indicated: Three Months Ended June 30, Six Months Ended June 30, in millions 2020 2019 2020 2019 Balance at beginning of the period $ 340 $ 365 $ 347 $ 399 Additions 22 54 39 68 Payments (35 ) (19 ) (53 ) (58 ) Charge-offs (17 ) (5 ) (23 ) (14 ) Balance at end of period $ 310 $ 395 $ 310 $ 395 A further breakdown of TDRs included in nonperforming loans by loan category for the periods indicated are as follows: June 30, 2020 December 31, 2019 Number of Loans Pre-modification Outstanding Recorded Investment Post-modification Outstanding Recorded Investment Number of Loans Pre-modification Outstanding Recorded Investment Post-modification Outstanding Recorded Investment dollars in millions LOAN TYPE Nonperforming: Commercial and industrial 50 $ 57 $ 43 51 $ 72 $ 53 Commercial real estate: Commercial mortgage 8 65 58 6 64 58 Total commercial real estate loans 8 65 58 6 64 58 Total commercial loans 58 122 101 57 136 111 Real estate — residential mortgage 191 16 14 181 13 11 Home equity loans 574 36 34 713 42 41 Consumer direct loans 134 2 2 172 2 2 Credit cards 290 2 2 368 2 2 Consumer indirect loans 939 16 13 1,131 19 16 Total consumer loans 2,128 72 65 2,565 78 72 Total nonperforming TDRs 2,186 194 166 2,622 214 183 Prior-year accruing: (a) Commercial and industrial 3 2 — 6 30 25 Commercial real estate Commercial mortgage 1 — — 1 — — Total commercial real estate loans 1 — — 1 — — Total commercial loans 4 2 — 7 30 25 Real estate — residential mortgage 487 36 30 493 37 31 Home equity loans 1,872 111 91 1,751 104 84 Consumer direct loans 183 4 3 139 4 3 Credit cards 602 4 2 486 3 1 Consumer indirect loans 820 31 18 714 33 20 Total consumer loans 3,964 186 144 3,583 181 139 Total prior-year accruing TDRs 3,968 188 144 3,590 211 164 Total TDRs 6,154 $ 382 $ 310 6,212 $ 425 $ 347 (a) All TDRs that were restructured prior to January 1, 2020 , and January 1, 2019 , and are fully accruing. Commercial loan TDRs are considered defaulted when principal and interest payments are 90 days past due. Consumer loan TDRs are considered defaulted when principal and interest payments are more than 60 days past due. During the three months ended June 30, 2020 , there were no commercial loan TDRs and 43 consumer loan TDRs with a combined recorded investment of $1 million that experienced payment defaults after modifications resulting in TDR status during 2019 . During the three months ended June 30, 2019 , there were no commercial loan TDRs and 102 consumer loan TDRs with a combined recorded investment of $2 million that experienced payment defaults after modifications resulting in TDR status during 2018 . During the six months ended June 30, 2020 , there were no commercial loan TDRs and 127 consumer loan TDRs with a combined recorded investment of $3 million that experienced payment defaults after modifications resulting in TDR status during 2019. During the six months ended June 30, 2019 , there were no commercial loan TDRs and 174 consumer loan TDRs with a combined recorded investment of $4 million that experienced payment defaults after modifications resulting in TDR status during 2018. Liability for Credit Losses on Off Balance Sheet Exposures The liability for credit losses inherent in unfunded lending-related commitments, such as letters of credit and unfunded loan commitments, and certain financial guarantees is included in “accrued expense and other liabilities” on the balance sheet. Changes in the liability for credit losses on off balance sheet exposures are summarized as follows: Three months ended June 30, Six months ended June 30, in millions 2020 2019 2020 2019 Balance at the end of the prior period $ 161 $ 62 $ 68 $ 64 Liability for credit losses on contingent guarantees at the end of the prior period — — 7 — Cumulative effect from change in accounting principle (a), (b) — — 66 — Balance at beginning of period 161 62 141 64 Provision (credit) for losses on off balance sheet exposures 37 2 57 — Balance at end of period $ 198 $ 64 $ 198 $ 64 (a) The cumulative effect from change in accounting principle relates to the January 1, 2020, adoption of ASU 2016-13. (b) Excludes $4 million related to the provision for other financial assets.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements In accordance with GAAP, Key measures certain assets and liabilities at fair value. Fair value is defined as the price to sell an asset or transfer a liability in an orderly transaction between market participants in our principal market. Additional information regarding our accounting policies for determining fair value is provided in Note 6 (“ Fair Value Measurements ”) and Note 1 (“ Summary of Significant Accounting Policies ”) under the heading “Fair Value Measurements” of our 2019 Form 10-K. Assets and Liabilities Measured at Fair Value on a Recurring Basis Certain assets and liabilities are measured at fair value on a recurring basis in accordance with GAAP. The following tables present these assets and liabilities at June 30, 2020 , and December 31, 2019 . June 30, 2020 December 31, 2019 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total in millions ASSETS MEASURED ON A RECURRING BASIS Trading account assets: U.S. Treasury, agencies and corporations — $ 531 — $ 531 — $ 843 — $ 843 States and political subdivisions — 40 — 40 — 30 — 30 Other mortgage-backed securities — 16 $ 36 52 — 78 — 78 Other securities — 13 — 13 — 44 — 44 Total trading account securities — 600 36 636 — 995 — 995 Commercial loans — 9 — 9 — 45 — 45 Total trading account assets — 609 36 645 — 1,040 — 1,040 Securities available for sale: U.S. Treasury, agencies and corporations — 3,465 — 3,465 — 334 — 334 States and political subdivisions — 4 — 4 — 4 — 4 Agency residential collateralized mortgage obligations — 11,947 — 11,947 — 12,783 — 12,783 Agency residential mortgage-backed securities — 1,445 — 1,445 — 1,714 — 1,714 Agency commercial mortgage-backed securities — 6,727 — 6,727 — 6,997 — 6,997 Other securities — — 12 12 — — $ 11 11 Total securities available for sale — 23,588 12 23,600 — 21,832 11 21,843 Other investments: Principal investments: Direct — — 1 1 — — 1 1 Indirect (measured at NAV) (a) — — — 56 — — — 68 Total principal investments — — 1 57 — — 1 69 Equity investments: Direct — — 12 12 — — 12 12 Direct (measured at NAV) (a) — — — 1 — — — 1 Indirect (measured at NAV) (a) — — — 8 — — — 8 Total equity investments — — 12 21 — — 12 21 Total other investments — — 13 78 — — 13 90 Loans, net of unearned income (residential) — — 5 5 — — 4 4 Loans held for sale (residential) — 250 — 250 — 140 — 140 Derivative assets: Interest rate — 1,968 52 2,020 — 941 22 963 Foreign exchange $ 79 29 — 108 $ 49 18 — 67 Commodity — 487 — 487 — 208 — 208 Credit — 1 3 4 — — 1 1 Other — 37 46 83 — 9 5 14 Derivative assets 79 2,522 101 2,702 49 1,176 28 1,253 Netting adjustments (b) — — — (609 ) — — — (473 ) Total derivative assets 79 2,522 101 2,093 49 1,176 28 780 Accrued income and other assets — — — — — — — — Total assets on a recurring basis at fair value $ 79 $ 26,969 $ 167 $ 26,671 $ 49 $ 24,188 $ 56 $ 23,897 LIABILITIES MEASURED ON A RECURRING BASIS Bank notes and other short-term borrowings: Short positions $ 285 $ 430 — $ 715 $ 19 $ 686 — $ 705 Derivative liabilities: Interest rate — 337 — 337 — 253 — 253 Foreign exchange 69 28 — 97 43 17 — 60 Commodity — 462 — 462 — 200 — 200 Credit — — $ 20 20 — 1 $ 9 10 Other — 23 — 23 — 10 — 10 Derivative liabilities 69 850 20 939 43 481 9 533 Netting adjustments (b) — — — (629 ) — — — (335 ) Total derivative liabilities 69 850 20 310 43 481 9 198 Total liabilities on a recurring basis at fair value $ 354 $ 1,280 $ 20 $ 1,025 $ 62 $ 1,167 $ 9 $ 903 (a) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet. (b) Netting adjustments represent the amounts recorded to convert our derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The net basis takes into account the impact of bilateral collateral and master netting agreements that allow us to settle all derivative contracts with a single counterparty on a net basis and to offset the net derivative position with the related cash collateral. Total derivative assets and liabilities include these netting adjustments. Qualitative Disclosures of Valuation Techniques The following table describes the valuation techniques and significant inputs used to measure the classes of assets and liabilities reported at fair value on a recurring basis, as well as the classification of each within the valuation hierarchy. Asset/liability class Valuation technique Valuation hierarchy classification(s) Securities (trading account assets and available for sale) Fair value of Level 1 securities is determined by: • Quoted market prices available in an active market for identical securities. This includes exchange-traded equity securities. Fair value of Level 2 securities is determined by: • Pricing models (either by a third party pricing service or internally). Inputs include: yields, benchmark securities, bids, offers, actual trade data (i.e., spreads, credit ratings, and interest rates) for comparable assets, spread tables, matrices, high-grade scales, and option-adjusted spreads. • Observable market prices of similar securities. Fair value of Level 3 securities is determined by: • Internally developed valuation techniques, principally discounted cash flow methods (income approach). • Revenue multiples of comparable public companies (market approach). For Level 3 securities, increases (decreases) in the discount rate and marketability discount used in the discounted cash flow models would have resulted in lower (higher) fair value measurements. Higher volatility factors would have further magnified changes in fair value. The valuations provided by the third-party pricing service are based on observable market inputs, which include benchmark yields, reported trades, issuer spreads, benchmark securities, bids, offers, and reference data obtained from market research publications. Inputs used by the third-party pricing service in valuing CMOs and other mortgage-backed securities also include new issue data, monthly payment information, whole loan collateral performance, and “To Be Announced” prices. In valuations of securities issued by state and political subdivisions, inputs used by the third-party pricing service also include material event notices. Level 1, 2, and 3 (primarily Level 2) Commercial loans (trading account assets) Fair value is based on: • Observable market price spreads for similar loans. Valuations reflect prices within the bid-ask spread that are most representative of fair value. Level 2 Principal investments (direct) Direct principal investments consist of equity and debt instruments of private companies made by our principal investing entities. Fair value is determined using: • Operating performance and market multiples of comparable businesses • Other unique facts and circumstances related to each individual investment Direct principal investments are accounted for as investment companies in accordance with the applicable accounting guidance, whereby each investment is adjusted to fair value with any net realized or unrealized gain/loss recorded in the current period’s earnings. We are in the process of winding down our direct principal investment portfolio. As of June 30, 2020, the balance is less than $1 million. Level 3 Principal investments (indirect) Indirect principal investments include primary and secondary investments in private equity funds engaged mainly in venture- and growth-oriented investing. These investments do not have readily determinable fair values and qualify for the practical expedient to estimate fair value based upon net asset value per share (or its equivalent, such as member units or an ownership interest in partners’ capital to which a proportionate share of net assets is attributed). Indirect principal investments are also accounted for as investment companies, whereby each investment is adjusted to fair value with any net realized or unrealized gain/loss recorded in the current period’s earnings. Under the provisions of the Volcker Rule, we are required to dispose or conform our indirect investments to the requirements of the statute by no later than July 21, 2022. As of June 30, 2020, we have not committed to a plan to sell these investments. Therefore, these investments continue to be valued using the net asset value per share methodology. NAV The following table presents the fair value of our direct and indirect principal investments and related unfunded commitments at June 30, 2020 , as well as financial support provided for the three and six months ended June 30, 2020 , and June 30, 2019 . Financial support provided Three months ended June 30, Six months ended June 30, June 30, 2020 2020 2019 2020 2019 in millions Fair Value Unfunded Commitments Funded Commitments Funded Other Funded Commitments Funded Other Funded Commitments Funded Other Funded Commitments Funded Other INVESTMENT TYPE Direct investments $ 1 — — $ — — — — — — — Indirect investments (measured at NAV) (a) 56 $ 18 $ — — — — $ — — $ 2 — Total $ 57 $ 18 — $ — — — $ — — $ 2 — (a) Our indirect investments consist of buyout funds, venture capital funds, and fund of funds. These investments are generally not redeemable. Instead, distributions are received through the liquidation of the underlying investments of the fund. An investment in any one of these funds typically can be sold only with the approval of the fund’s general partners. At June 30, 2020 , no significant liquidation of the underlying investments has been communicated to Key. The purpose of funding our capital commitments to these investments is to allow the funds to make additional follow-on investments and pay fund expenses until the fund dissolves. We, and all other investors in the fund, are obligated to fund the full amount of our respective capital commitments to the fund based on our and their respective ownership percentages, as noted in the applicable Limited Partnership Agreement. Asset/liability class Valuation technique Valuation hierarchy classification(s) Other direct equity investments Fair value is determined using: • Discounted cash flows • Operating performance and market/exit multiples of comparable businesses • Other unique facts and circumstances related to each individual investment For Level 3 securities, increases (decreases) in the discount rate and marketability discount used in the discounted cash flow models would have resulted in lower (higher) fair value measurements. Higher volatility factors would have further magnified changes in fair value. Level 2 investments reflect the price of recent investments, which is deemed representative of fair value. Level 2 and 3 Other direct and indirect equity investments (NAV) Certain direct investments do not have readily determinable fair values and qualify for the practical expedient in the accounting guidance that allows us to estimate fair value based upon net asset value per share. NAV Loans held for sale and held for investment (residential) Residential mortgage loans held for sale are accounted for at fair value. The election of the fair value option aligns the accounting for these assets with the related forward loan sale commitments. Fair values are based on: • Quoted market prices, where available • Prices for other traded mortgage loans with similar characteristics • Purchase commitments and bid information received from market participants Prices are adjusted as necessary to include: • The embedded servicing value in the loans • The specific characteristics of certain loans that are priced based on the pricing of similar loans. (These adjustments represent unobservable inputs to the valuation but are not considered significant given the relative insensitivity of the value to changes in these inputs to the fair value of the loans.) Residential loans held for investment: Certain residential loans held for sale contain salability exceptions that make them unable to be sold into the performing loan sales market. Loans in this category are transferred to the held to maturity loan portfolio and are included in “Loans, net of unearned income” on the balance sheet. This type of loan is classified as Level 3 in the valuation hierarchy as transaction details regarding sales of this type of loan are often unavailable. Fair value is based upon: • Unobservable bid information from brokers and investors Higher (lower) unobservable bid information would have resulted in higher (lower) fair value measurements. Level 1, 2 and 3 (primarily Level 2) Asset/liability class Valuation technique Valuation hierarchy classification(s) Derivatives Exchange-traded derivatives are valued using quoted prices in active markets and, therefore, are classified as Level 1 instruments. The majority of our derivative positions are Level 2 and are valued using internally developed models based on market convention and observable market inputs. These derivative contracts include interest rate swaps, certain options, floors, cross currency swaps, credit default swaps, and forward mortgage loan sale commitments. Significant inputs used in the valuation models include: • LIBOR and OIS curves, index pricing curves, foreign currency curves • Volatility surfaces (a three-dimensional graph of implied volatility against strike price and maturity) We have customized derivative instruments and risk participations that are classified as Level 3 instruments. These derivative positions are valued using internally developed models, with inputs consisting of available market data, including: • Credit spreads and interest rates The unobservable internally derived assumptions include: • Loss given default • Internal risk assessments of customers The fair value represents an estimate of the amount that the risk participation counterparty would need to pay/receive as of the measurement date based on the probability of customer default on the swap transaction and the fair value of the underlying customer swap. Therefore, for sold risk participation agreements, a higher loss probability and a lower credit rating would negatively affect the fair value of the risk participations and a lower loss probability and higher credit rating would positively affect the fair value of the risk participations. (For purchased risk participation agreements, higher loss probabilities and lower credit ratings would positively affect the fair value.) We use interest rate lock commitments for our residential mortgage business, which are classified as Level 3 instruments. The significant components of the valuation model include: • Interest rates observable in the market • Investor supplied prices for similar securities • The probability of the loan closing (i.e. the "pull-through" amount, a significant unobservable input). Increases (decreases) in the probability of the loan closing would have resulted in higher (lower) fair value measurements. Valuation of residential mortgage forward sale commitments utilizes observable market prices of comparable commitments and mortgage securities (Level 2). Level 1, 2, and 3 (primarily Level 2) Liability for short positions This includes fixed income securities held by our broker dealer in its trading inventory. Fair value of Level 1 securities is determined by: • Quoted market prices available in an active market for identical securities Fair value of Level 2 securities is determined by: • Observable market prices of similar securities • Market activity, spreads, credit ratings and interest rates for each security type Level 1 and 2 Changes in Level 3 Fair Value Measurements The following table shows the components of the change in the fair values of our Level 3 financial instruments measured at fair value on a recurring basis for the three and six months ended June 30, 2020 , and June 30, 2019 . in millions Beginning of Period Balance Gains (Losses) Included in Other Comprehensive Income Gains (Losses) Included in Earnings Purchases Sales Settlements Transfers Other Transfers into Level 3 Transfers out of Level 3 End of Period Balance Unrealized Gains (Losses) Included in Earnings Six months ended June 30, 2020 Trading account assets Other mortgage-backed securities — — — — — — — $ 36 (d) — $ 36 — Securities available for sale Other securities $ 11 $ 1 — — — — — — — 12 — Other investments Principal investments Direct 1 — — — — — — — — 1 — Equity investments Direct 12 — — — — — — $ — — 12 — Loans held for sale (residential) — — — — $ (10 ) — $ 10 — — — — Loans, net of unearned income (residential) 4 — — — (1 ) — 2 — — 5 — Derivative instruments (b) Interest rate 22 — $ 22 (c) $ 11 (1 ) — — 62 (d) $ (64 ) (d) 52 — Credit (8 ) — (10 ) (c) 1 — — — — — (17 ) — Other (e) 5 — — — — — 41 — — 46 — Three months ended June 30, 2020 Trading account assets Other mortgage-backed securities — — — — — — — $ 36 (d) — $ 36 — Securities available for sale Other securities $ 9 $ 3 — — — — — — — 12 — Other investments Principal investments Direct 1 — — — — — — — — 1 — Equity investments Direct 10 — $ 2 (a) — — — — — — 12 2 (a) Loans held for sale (residential) 10 — — — $ (10 ) — — — — — — Loans, net of unearned income (residential) 3 — — — — — $ 2 — — 5 — Derivative instruments (b) Interest rate 96 — 3 (c) — — — — 7 (d) $ (54 ) (d) 52 — Credit (23 ) — 6 (c) — — — — (17 ) — Other (e) 23 — — — — — 23 — — 46 — in millions Beginning of Period Balance Gains (Losses) Included in Other Comprehensive Income Gains (Losses) Included in Earnings Purchases Sales Settlements Transfers Other Transfers into Level 3 Transfers out of Level 3 End of Period Balance Unrealized Gains (Losses) Included in Earnings Six months ended June 30, 2019 Securities available for sale Other securities $ 20 $ 15 — — — — — — $ (24 ) $ 11 — Other investments Principal investments Direct (a) 1 — — — — — — — — 1 — Equity investments Direct 7 — $ (1 ) (a) — — — — $ 1 — 7 (1 ) Loans held for sale (residential) — — — — $ (1 ) — $ 1 — — — — Loans, net of unearned income (residential) 3 — — — — — — — — 3 — Derivative instruments (b) Interest rate 5 — 3 (c) — — — — 2 (d) (6 ) (d) 4 — Credit — — — $ (1 ) — — — — — (1 ) — Other (e) 3 — — — — — 3 — — 6 — Three months ended June 30, 2019 Securities available for sale Other securities $ 25 $ 10 — — — — — — $ (24 ) $ 11 — Other investments Principal investments Direct 1 — — $ (1 ) $ 1 — — — — 1 $ — Equity investments Direct 8 — $ (1 ) (a) — — — — — — 7 (1 ) Loans held for sale (residential) 1 — — — (1 ) — — — — — — Loans, net of unearned income (residential) 3 — — — — — — — — 3 — Derivative instruments (b) Interest rate 3 — 2 (c) — — — — $ — (1 ) (d) 4 — Credit (1 ) — — — — $ — — — — (1 ) — Other (e) 4 — — — — — 2 — — 6 — (a) Realized and unrealized gains and losses on principal investments and other equity investments are reported in “other income” on the income statement. (b) Amounts represent Level 3 derivative assets less Level 3 derivative liabilities. (c) Realized and unrealized gains and losses on derivative instruments are reported in “corporate services income” and “other income” on the income statement. (d) Certain trading account assets and derivatives previously classified as Level 2 were transferred to Level 3 because Level 3 unobservable inputs became significant. Certain derivatives previously classified as Level 3 were transferred to Level 2 because Level 3 unobservable inputs became less significant. (e) Amounts represent Level 3 interest rate lock commitments. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Certain assets and liabilities are measured at fair value on a nonrecurring basis in accordance with GAAP. The adjustments to fair value generally result from the application of accounting guidance that requires assets and liabilities to be recorded at the lower of cost or fair value, or assessed for impairment. There were no liabilities measured at fair value on a nonrecurring basis at June 30, 2020 , and December 31, 2019 . The following table presents our assets measured at fair value on a nonrecurring basis at June 30, 2020 , and December 31, 2019 : June 30, 2020 December 31, 2019 in millions Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total ASSETS MEASURED ON A NONRECURRING BASIS Collateral-dependent loans — $ — $ 135 $ 135 — — $ 76 $ 76 Accrued income and other assets — — 91 91 — $ 118 51 169 Total assets on a nonrecurring basis at fair value — $ — $ 226 $ 226 — $ 118 $ 127 $ 245 Qualitative Disclosures of Valuation Techniques The following table describes the valuation techniques and significant inputs used to measure the significant classes of assets and liabilities reported at fair value on a nonrecurring basis, as well as the classification of each within the valuation hierarchy. Asset/liability class Valuation technique Valuation hierarchy classification(s) Collateral-dependent loans When a loan is collateral-dependent, the fair value of the loan is determined based on the fair value of the underlying collateral. Level 3 Commercial loans and student loans held for sale Through a quarterly analysis of our loan portfolios held for sale, which include both performing and nonperforming commercial loans and student loans, we determine any adjustments necessary to record the portfolios at the lower of cost or fair value in accordance with GAAP. Valuation inputs include: • Non-binding bids for the respective loans or similar loans • Recent sales transactions • Internal models that emulate recent securitizations Level 2 and 3 Direct financing leases and operating lease assets held for sale Valuations of direct financing leases and operating lease assets held for sale are performed using an internal model that relies on market data, including: • Swap rates and bond ratings • Our own assumptions about the exit market for the leases • Details about the individual leases in the portfolio Leases for which we receive a current nonbinding bid, and for which the sale is considered probable, may be classified as Level 2. Valuations of lease and operating lease assets held for sale that employ our own assumptions are classified as Level 3 assets. The inputs based on our own assumptions include changes in the value of leased items and internal credit ratings. Level 2 and 3 OREO, other repossessed personal property, and right-of-use assets (a) OREO, other repossessed properties, and right-of-use assets are valued based on: • Appraisals and third-party price opinions, less estimated selling costs Generally, we classify these assets as Level 3, but OREO and other repossessed properties for which we receive binding purchase agreements are classified as Level 2. Returned lease inventory is valued based on market data for similar assets and is classified as Level 2. Level 2 and 3 Asset/liability class Valuation technique Valuation hierarchy classification(s) LIHTC, HTC, and NMTC investments (a) Valuation of LIHTC, HTC and NMTC involves measuring the present value of future tax benefits and comparing that value against the current carrying value of the investment. Expected future tax benefits are discounted to their present value using discounted cash flow modeling that incorporates an appropriate risk premium. LIHTC and HTC investments are impaired when it is more likely than not that the carrying amount of the investment will not be realized. Level 3 Other equity investments We have other investments in equity securities that do not have readily determinable fair values and do not qualify for the practical expedient to measure the investment using a net asset value per share. We have elected to measure these securities at cost less impairment plus or minus adjustments due to observable orderly transactions. Impairment is recorded when there is evidence that the expected fair value of the investment has declined to below the recorded cost. At each reporting period, we assess if these investments continue to qualify for this measurement alternative. Level 3 Mortgage Servicing Assets ( a) Refer to Note 8. Mortgage Servicing Assets Level 3 (a) Asset classes included in “Accrued income and other assets” on the Consolidated Balance Sheets Quantitative Information about Level 3 Fair Value Measurements The range and weighted-average of the significant unobservable inputs used to fair value our material Level 3 recurring and nonrecurring assets at June 30, 2020 , and December 31, 2019 , along with the valuation techniques used, are shown in the following table: Level 3 Asset (Liability) Valuation Technique Significant Unobservable Input Range (Weighted-Average) (b), (c) dollars in millions June 30, 2020 December 31, 2019 June 30, 2020 December 31, 2019 Recurring Trading account assets: Other mortgage-backed securities $ 36 $ — Discounted cash flows Discount rate 2.37% - 5.82% (3.05%) N/A Conditional prepayment rate 8.5 - 14.0 (10.65) N/A Constant default rate 0.5 - 2 (1.13) N/A Loss severity 50 - 70% (55.70%) N/A Securities available-for-sale: Other securities $ 12 11 Discounted cash flows Discount rate N/A (15.09%) N/A (16.10%) Marketability discount N/A (30.00%) N/A (30.00%) Volatility factor N/A (44.00%) N/A (43.00%) Other investments: (a) Equity investments Direct 12 12 Discounted cash flows Discount rate 13.48 - 16.88% (15.14%) 13.91 - 17.24% (15.61%) Marketability discount N/A (30.00%) N/A (30.00%) Volatility factor N/A (55.00%) N/A (47.00%) Loans, net of unearned income (residential) 5 4 Market comparable pricing Comparability factor 79.00-98.16% (90.80%) 79.00 - 98.00% (91.05%) Derivative instruments: Interest rate 52 22 Discounted cash flows Probability of default .02 - 100% (11.20%) .02 - 100% (5.40%) Internal risk rating 1 - 19 (9.359) 1 - 19 (9.168) Loss given default 0 - 1 (.478) 0 - 1 (.492) Credit (assets) 3 1 Discounted cash flows Probability of default .02 - 100% (9.20%) .02 - 100% (4.2%) Internal risk rating 1 - 19 (10.32) 1 - 19 (10.13) Loss given default 0 - 1 (.491) 0 - 1 (.498) Credit (liabilities) (20 ) (9 ) Discounted cash flows Probability of default .02 - 100% (19.33%) .02 - 100% (12.24%) Internal risk rating 1 - 19 (7.73) 1 - 19 (8.058) Loss given default 0 - 1 (.393) 0 - 1 (.411) Other (d) 46 5 Discounted cash flows Loan closing rates 33.78 - 99.70 % (75.74%) 37.71 - 99.69% (79.33%) Nonrecurring Collateral-dependent loans 135 76 Fair value of collateral Discount rate 0 - 55.00% (23.00%) 0 - 60.00% (10.00%) Accrued income and other assets: OREO and other Level 3 assets (e) 2 5 Appraised value Appraised value N/M N/M (a) Principal investments, direct is excluded from this table as the balance at June 30, 2020 , and December 31, 2019 , is insignificant (less than $1 million ). (b) The weighted average of significant unobservable inputs is calculated using a weighting relative to fair value. (c) For significant unobservable inputs with no range, a single figure is reported to denote the single quantitative factor used. (d) Amounts represent interest rate lock commitments. (e) Excludes $89 million and $46 million pertaining to mortgage servicing assets at June 30, 2020 and December 31, 2019 . Refer to Note 8 (“ Mortgage Servicing Assets ”) for significant unobservable inputs pertaining to these assets. Fair Value Disclosures of Financial Instruments The Levels in the fair value hierarchy ascribed to our financial instruments and the related carrying amounts at June 30, 2020 , and December 31, 2019 , are shown in the following tables. Assets and liabilities are further arranged by measurement category. June 30, 2020 Fair Value in millions Carrying Amount Level 1 Level 2 Level 3 Measured at NAV Netting Adjustment Total ASSETS (by measurement category) Fair value - net income Trading account assets (b) $ 645 $ — $ 609 $ 36 — — $ 645 Other investments (b) 655 — — 590 $ 65 — 655 Loans, net of unearned income (residential) (d) 5 — — 5 — — 5 Loans held for sale (residential) (b) 250 — 250 — — — 250 Derivative assets - trading (b) 1,974 79 2,433 101 — $ (639 ) (f) 1,974 Fair value - OCI Securities available for sale (b) 23,600 — 23,588 $ 12 — — 23,600 Derivative assets - hedging (b)(g) 119 — 89 — — 30 (f) 119 Amortized cost Held-to-maturity securities (c) 9,075 — 9,520 — — — 9,520 Loans, net of unearned income (d) 104,446 — — 102,765 — — 102,765 Loans held for sale (b) 1,757 — — 1,757 — — 1,757 Other Cash and short-term investments (a) 15,095 15,095 — — — — 15,095 LIABILITIES (by measurement category) Fair value - net income Derivative liabilities - trading (b) $ 309 $ 69 $ 845 20 — $ (625 ) (f) $ 309 Fair value - OCI Derivative liabilities - hedging (b)(g) 1 — 5 — — (4 ) (f) 1 Amortized cost Time deposits (e) 8,487 — 8,540 — — — 8,540 Short-term borrowings (a) 1,983 285 1,698 — — — 1,983 Long-term debt (e) 13,734 13,870 731 — — — 14,601 Other Deposits with no stated maturity (a) 127,026 — 127,026 — — — 127,026 December 31, 2019 Fair Value in millions Carrying Amount Level 1 Level 2 Level 3 Measured at NAV Netting Adjustment Total ASSETS (by measurement category) Fair value - net income Trading account assets (b) $ 1,040 — $ 1,040 — — — $ 1,040 Other investments (b) 605 — — $ 528 $ 77 — 605 Loans, net of unearned income (residential) (d) 4 — — 4 — — 4 Loans held for sale (residential) (b) 140 — 140 — — — 140 Derivative assets - trading (b) 715 $ 49 985 28 — $ (347 ) (f) 715 Fair value - OCI Securities available for sale (b) 21,843 — 21,832 11 — — 21,843 Derivative assets - hedging (b)(g) 65 — 191 — — (126 ) (f) 65 Amortized cost Held-to-maturity securities (c) 10,067 — 10,116 — — — 10,116 Loans, net of unearned income (d) 93,742 — — 92,641 — — 92,641 Loans held for sale (b) 1,194 — — 1,194 — — 1,194 Other Cash and short-term investments (a) 2,004 2,004 — — — — 2,004 LIABILITIES (by measurement category) Fair value - net income Derivative liabilities - trading (b) $ 194 $ 43 $ 461 9 — $ (319 ) (f) $ 194 Fair value - OCI Derivative liabilities - hedging (b)(g) 4 — 20 — — (16 ) (f) 4 Amortized cost Time deposits (e) 11,652 — 11,752 — — — 11,752 Short-term borrowings (a) 1,092 19 1,073 — — — 1,092 Long-term debt (e) 12,448 12,694 249 — — — 12,943 Other Deposits with no stated maturity (a) 100,218 — 100,218 — — — 100,218 Valuation Methods and Assumptions (a) Fair value equals or approximates carrying amount. The fair value of deposits with no stated maturity does not take into consideration the value ascribed to core deposit intangibles. (b) Information pertaining to our methodology for measuring the fair values of these assets and liabilities is included in the sections entitled “Qualitative Disclosures of Valuation Techniques” and “Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis” in this Note. Investments accounted for under the cost method (or cost less impairment adjusted for observable price changes for certain equity investments) are classified as Level 3 assets. These investments are not actively traded in an open market as sales for these types of investments are rare. The carrying amount of the investments carried at cost are adjusted for declines in value if they are considered to be other-than-temporary (or due to observable orderly transactions of the same issuer for equity investments eligible for the cost less impairment measurement alternative). These adjustments are included in “other income” on the income statement. (c) Fair values of held-to-maturity securities are determined by using models that are based on security-specific details, as well as relevant industry and economic factors. The most significant of these inputs are quoted market prices, interest rate spreads on relevant benchmark securities, and certain prepayment assumptions. We review the valuations derived from the models to ensure that they are reasonable and consistent with the values placed on similar securities traded in the secondary markets. (d) The fair value of loans is based on the present value of the expected cash flows. The projected cash flows are based on the contractual terms of the loans, adjusted for prepayments and use of a discount rate based on the relative risk of the cash flows, taking into account the loan type, maturity of the loan, liquidity risk, servicing costs, and a required return on debt and capital. In addition, an incremental liquidity discount is applied to certain loans, using historical sales of loans during periods of similar economic conditions as a benchmark. The fair value of loans includes lease financing receivables at their aggregate carrying amount, which is equivalent to their fair value. (e) Fair values of time deposit

Securities

Securities	6 Months Ended
	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Securities	6. Securities The amortized cost, unrealized gains and losses, and approximate fair value of our securities available for sale and held-to-maturity securities are presented in the following tables. Gross unrealized gains and losses represent the difference between the amortized cost and the fair value of securities on the balance sheet as of the dates indicated. Accordingly, the amount of these gains and losses may change in the future as market conditions change. June 30, 2020 December 31, 2019 in millions Amortized Cost (a) Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value SECURITIES AVAILABLE FOR SALE U.S. Treasury, agencies, and corporations $ 3,465 — — $ 3,465 $ 334 — — $ 334 States and political subdivisions 3 $ 1 — 4 4 — — 4 Agency residential collateralized mortgage obligations 11,600 348 $ 1 11,947 12,772 $ 82 $ 71 12,783 Agency residential mortgage-backed securities 1,373 72 — 1,445 1,677 41 4 1,714 Agency commercial mortgage-backed securities 6,301 426 — 6,727 6,898 139 40 6,997 Other securities 8 4 — 12 7 4 — 11 Total securities available for sale $ 22,750 $ 851 $ 1 $ 23,600 $ 21,692 $ 266 $ 115 $ 21,843 HELD-TO-MATURITY SECURITIES Agency residential collateralized mortgage obligations $ 4,886 $ 151 — $ 5,037 $ 5,692 $ 23 $ 49 $ 5,666 Agency residential mortgage-backed securities 359 16 — 375 409 6 — 415 Agency commercial mortgage-backed securities 3,805 278 — 4,083 3,940 78 9 4,009 Asset-backed securities 10 — — 10 11 — — 11 Other securities 15 — — 15 15 — — 15 Total held-to-maturity securities $ 9,075 $ 445 — $ 9,520 $ 10,067 $ 107 $ 58 $ 10,116 (a) Amortized cost amounts exclude accrued interest receivable which is recorded within “other assets” on the balance sheet. At June 30, 2020 , accrued interest receivable on available for sale securities and held-to-maturity securities totaled $39 million and $18 million , respectively. The following table summarizes available for sale securities in an unrealized loss position for which an allowance for credit losses has not been recorded as of June 30, 2020 , and December 31, 2019 . Duration of Unrealized Loss Position Less than 12 Months 12 Months or Longer Total in millions Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses June 30, 2020 Securities available for sale: U.S Treasury, agencies, and corporations $ 455 — (a) — — $ 455 — Agency residential collateralized mortgage obligations 371 — (a) $ 58 $ 1 429 $ 1 Agency residential mortgage-backed securities 10 — (a) 5 — (a) 15 — Held-to-maturity securities: Agency residential collateralized mortgage obligations — — 37 — (a) 37 — Asset-backed securities 1 — (a) — — 1 — Other securities 10 — (a) — — 10 — Total securities in an unrealized loss position $ 847 — $ 100 $ 1 $ 947 $ 1 December 31, 2019 Securities available for sale: U.S. Treasury, agencies, and corporations $ 30 — (b) $ 30 — (b) $ 60 — Agency residential collateralized mortgage obligations 3,432 $ 20 3,221 $ 51 6,653 $ 71 Agency residential mortgage-backed securities 33 — (b) 629 4 662 4 Agency commercial mortgage-backed securities 1,541 17 1,213 23 2,754 40 Held-to-maturity securities: Agency residential collateralized mortgage obligations 1,626 14 2,289 35 3,915 49 Agency residential mortgage-backed securities 56 — (b) — — 56 — Agency commercial mortgage-backed securities 518 9 — — 518 9 Asset-backed securities 11 — (b) — — 11 — Other securities 3 — (b) — — 3 — Total securities in an unrealized loss position $ 7,250 $ 60 $ 7,382 $ 113 $ 14,632 $ 173 (a) At June 30, 2020 , gross unrealized losses totaled less than $1 million for U.S. Treasury, agencies, and corporations, agency residential collateralized mortgage obligations, and agency residential mortgage-backed securities available for sale with a loss duration of less than 12 months. At June 30, 2020 , gross unrealized losses totaled less than $1 million for asset-backed securities and other securities held-to-maturity with a loss duration of less than 12 months. At June 30, 2020 , gross unrealized losses totaled less than $1 million for agency residential mortgage-backed securities available for sale with a loss duration greater than 12 months or longer. At June 30, 2020 , gross unrealized losses totaled less than $1 million for agency residential collateralized mortgage obligations held-to-maturity with a loss duration greater than 12 months or longer. (b) At December 31, 2019 , gross unrealized losses totaled less than $1 million for U.S. Treasury, agencies, and corporations and agency residential mortgage-backed securities available for sale with a loss duration of less than 12 months. At December 31, 2019 , gross unrealized losses totaled less than $1 million for U.S. Treasury, Agencies, and Corporations securities available for sale with a loss duration greater than 12 months or longer. At December 31, 2019 , gross unrealized losses totaled less than $1 million for agency residential mortgage-backed securities, asset-backed securities, and other securities held-to-maturity with a loss duration of less than 12 months. Based on our evaluation at June 30, 2020 , under the new impairment model, an allowance for credit losses has not been recorded nor have unrealized losses been recognized into income. The issuers of the securities are of high credit quality and have a long history of no credit losses, management does not intend to sell and it is likely that management will not be required to sell the securities prior to their anticipated recovery, and the decline in fair value is largely attributed to changes in interest rates and other market conditions. The issuers continue to make timely principle and interest payments. At June 30, 2020 , securities available for sale and held-to-maturity securities totaling $11.9 billion were pledged to secure securities sold under repurchase agreements, to secure public and trust deposits, to facilitate access to secured funding, and for other purposes required or permitted by law. The following table shows our securities by remaining maturity. CMOs and other mortgage-backed securities in the available for sale portfolio and held-to-maturity portfolio are presented based on their expected average lives. The remaining securities, in both the available-for-sale and held-to-maturity portfolios, are presented based on their remaining contractual maturity. Actual maturities may differ from expected or contractual maturities since borrowers have the right to prepay obligations with or without prepayment penalties. June 30, 2020 Securities Available for Sale Held to Maturity Securities in millions Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 3,918 $ 3,928 $ 126 $ 128 Due after one through five years 14,490 15,024 6,323 6,564 Due after five through ten years 4,340 4,646 2,626 2,828 Due after ten years 2 2 — — Total $ 22,750 $ 23,600 $ 9,075 $ 9,520

Derivatives and Hedging Activit

Derivatives and Hedging Activities	6 Months Ended
	Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	7. Derivatives and Hedging Activities We are a party to various derivative instruments, mainly through our subsidiary, KeyBank. The primary derivatives that we use are interest rate swaps, caps, floors, and futures; foreign exchange contracts; commodity derivatives; and credit derivatives. Generally, these instruments help us manage exposure to interest rate risk, mitigate the credit risk inherent in our loan portfolio, hedge against changes in foreign currency exchange rates, and meet client financing and hedging needs. At June 30, 2020 , after taking into account the effects of bilateral collateral and master netting agreements, we had $119 million of derivative assets and $1 million of derivative liabilities that relate to contracts entered into for hedging purposes. As of the same date, after taking into account the effects of bilateral collateral and master netting agreements and a reserve for potential future losses, we had derivative assets of $2.0 billion and derivative liabilities of $309 million that were not designated as hedging instruments. These positions are primarily comprised of derivative contracts entered into for client accommodation purposes. Additional information regarding our accounting policies for derivatives is provided in Note 1 (“ Summary of Significant Accounting Policies ”) under the heading “Derivatives and Hedging” beginning on page 105 of our 2019 Form 10-K. Our derivative strategies and related risk management objectives are described in Note 8 (“ Derivatives and Hedging Activities ”) beginning on page 134 of our 2019 Form 10-K. Fair Values, Volume of Activity, and Gain/Loss Information Related to Derivative Instruments The following table summarizes the fair values of our derivative instruments on a gross and net basis as of June 30, 2020 , and December 31, 2019 . The derivative asset and liability balances are presented on a gross basis, prior to the application of bilateral collateral and master netting agreements, but after the variation margin payments with central clearing organizations have been applied as settlement, as applicable. Total derivative assets and liabilities are adjusted to take into account the impact of legally enforceable master netting agreements that allow us to settle all derivative contracts with a single counterparty on a net basis and to offset the net derivative position with the related cash collateral. Securities collateral related to legally enforceable master netting agreements is not offset on the balance sheet. Our derivative instruments are included in “accrued income and other assets” or “accrued expenses and other liabilities” on the balance sheet, as follows: June 30, 2020 December 31, 2019 Fair Value Fair Value in millions Notional Amount Derivative Assets Derivative Liabilities Notional Amount Derivative Assets Derivative Liabilities Derivatives designated as hedging instruments: Interest rate $ 34,602 $ 89 $ 5 $ 39,208 $ 191 $ 20 Derivatives not designated as hedging instruments: Interest rate 79,573 1,931 332 71,209 772 233 Foreign exchange 6,040 108 97 6,572 67 60 Commodity 6,399 487 462 5,324 208 200 Credit 591 4 20 427 1 10 Other (a) 7,818 83 23 3,337 14 10 Total 100,421 2,613 934 86,869 1,062 513 Netting adjustments (b) — (609 ) (629 ) — (473 ) (335 ) Net derivatives in the balance sheet 135,023 2,093 310 126,077 780 198 Other collateral (c) — (3 ) (1 ) — (2 ) (42 ) Net derivative amounts $ 135,023 $ 2,090 $ 309 $ 126,077 $ 778 $ 156 (a) Other derivatives include interest rate lock commitments and forward sale commitments related to our residential mortgage banking activities, forward purchase and sales contracts consisting of contractual commitments associated with “to be announced” securities and when-issued securities, and other customized derivative contracts. (b) Netting adjustments represent the amounts recorded to convert our derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. (c) Other collateral represents the amount that cannot be used to offset our derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The other collateral consists of securities and is exchanged under bilateral collateral and master netting agreements that allow us to offset the net derivative position with the related collateral. The application of the other collateral cannot reduce the net derivative position below zero. Therefore, excess other collateral, if any, is not reflected above. Fair value hedges. During the six -month period ended June 30, 2020 , we did not exclude any portion of fair value hedging instruments from the assessment of hedge effectiveness. The following tables summarize the amounts that were recorded on the balance sheet as of June 30, 2020 , and December 31, 2019 , related to cumulative basis adjustments for fair value hedges. June 30, 2020 in millions Balance sheet line item in which the hedge item is included Carrying amount of hedged item (a) Hedge accounting basis adjustment (b) Interest rate contracts Long-term debt $ 9,222 $ 538 December 31, 2019 Balance sheet line item in which the hedge item is included Carrying amount of hedged item (a) Hedge accounting basis adjustment (b) Interest rate contracts Long-term debt $ 8,408 $ 240 (a) The carrying amount represents the portion of the liability designated as the hedged item. (b) Basis adjustments related to de-designated hedged items that no longer qualify as fair value hedges reduced the hedge accounting basis adjustment by $9 million and $9 million at June 30, 2020 , and December 31, 2019 , respectively, Cash flow hedges. During the six -month period ended June 30, 2020 , we did not exclude any portion of cash flow hedging instruments from the assessment of hedge effectiveness. Considering the interest rates, yield curves, and notional amounts as of June 30, 2020 , we expect to reclassify an estimated $276 million of after-tax net gains on derivative instruments designated as cash flow hedges from AOCI to income during the next 12 months. In addition, we expect to reclassify approximately $77 million of net gains related to terminated cash flow hedges from AOCI to income during the next 12 months. As of June 30, 2020 , the maximum length of time over which we hedge forecasted transactions is 9 years. The following tables summarize the effect of fair value and cash flow hedge accounting on the income statement for the three- and six- month periods ended June 30, 2020 , and June 30, 2019 . Location and amount of net gains (losses) recognized in income on fair value and cash flow hedging relationships in millions Interest expense – long-term debt Interest income – loans Interest expense - deposits Other income Three months ended June 30, 2020 Total amounts presented in the consolidated statement of income $ (71 ) $ 980 $ (96 ) $ 33 Net gains (losses) on fair value hedging relationships Interest contracts Recognized on hedged items (5 ) — — — Recognized on derivatives designated as hedging instruments 39 — — — Net income (expense) recognized on fair value hedges $ 34 — — — Net gain (loss) on cash flow hedging relationships Interest contracts Realized gains (losses) (pre-tax) reclassified from AOCI into net income $ (1 ) $ 90 — — Net income (expense) recognized on cash flow hedges $ (1 ) $ 90 — — Three months ended June 30, 2019 Total amounts presented in the consolidated statement of income $ (120 ) $ 1,082 $ (223 ) $ 17 Net gains (losses) on fair value hedging relationships Interest contracts Recognized on hedged items $ (152 ) — $ (1 ) — Recognized on derivatives designated as hedging instruments 142 — — — Net income (expense) recognized on fair value hedges $ (10 ) — $ (1 ) — Net gain (loss) on cash flow hedging relationships Interest contracts Realized gains (losses) (pre-tax) reclassified from AOCI into net income $ — $ (19 ) — — Net income (expense) recognized on cash flow hedges $ — $ (19 ) — — Location and amount of net gains (losses) recognized in income on fair value and cash flow hedging relationships in millions Interest expense – long-term debt Interest income – loans Interest expense - deposits Other income Six months ended June 30, 2020 Total amounts presented in the consolidated statement of income $ (161 ) $ 2,006 $ (265 ) $ (55 ) Net gains (losses) on fair value hedging relationships Interest contracts Recognized on hedged items (299 ) — — — Recognized on derivatives designated as hedging instruments 350 — — — Net income (expense) recognized on fair value hedges $ 51 — — — Net gain (loss) on cash flow hedging relationships Interest contracts Realized gains (losses) (pre-tax) reclassified from AOCI into net income $ (2 ) $ 124 — — Net income (expense) recognized on cash flow hedges $ (2 ) $ 124 — — Six months ended June 30, 2019 Total amounts presented in the consolidated statement of income $ (240 ) $ 2,148 $ (425 ) $ 27 Net gains (losses) on fair value hedging relationships Interest contracts Recognized on hedged items $ (245 ) — $ (1 ) — Recognized on derivatives designated as hedging instruments 224 — — — Net income (expense) recognized on fair value hedges $ (21 ) — $ (1 ) — Net gain (loss) on cash flow hedging relationships Interest contracts Realized gains (losses) (pre-tax) reclassified from AOCI into net income $ (1 ) $ (43 ) — — Net income (expense) recognized on cash flow hedges $ (1 ) $ (43 ) — — Net investment hedges. We previously entered into foreign currency forward contracts to hedge our exposure to changes in the carrying value of our investments in foreign subsidiaries as a result of changes in the related foreign exchange rates. In December 2019, our last remaining net investment hedge was discontinued in connection with the substantial liquidation of the net assets of KEF’s Canadian subsidiary. Additional information regarding the discontinuance of this net investment hedge is provided in Note 8 ( Derivatives and Hedging Activities ) on page 137 of our 2019 Form 10-K. The following tables summarize the pre-tax net gains (losses) on our cash flow and net investment hedges for the three- and six- month periods ended June 30, 2020 , and June 30, 2019 , and where they are recorded on the income statement. The table includes net gains (losses) recognized in OCI during the period and net gains (losses) reclassified from OCI into income during the current period. in millions Net Gains (Losses) Recognized in OCI Income Statement Location of Net Gains (Losses) Reclassified From OCI Into Income Net Gains (Losses) Reclassified From OCI Into Income Three months ended June 30, 2020 Cash Flow Hedges Interest rate $ 62 Interest income — Loans $ 90 Interest rate (1 ) Interest expense — Long-term debt (1 ) Interest rate 10 Investment banking and debt placement fees — Total $ 71 $ 89 Three months ended June 30, 2019 Cash Flow Hedges Interest rate $ 270 Interest income — Loans $ (19 ) Interest rate (2 ) Interest expense — Long-term debt — Interest rate (1 ) Investment banking and debt placement fees — Net Investment Hedges Foreign exchange contracts (1 ) Other Income — Total $ 266 $ (19 ) in millions Net Gains (Losses) Recognized in OCI Income Statement Location of Net Gains (Losses) Reclassified From OCI Into Income Net Gains (Losses) Reclassified From OCI Into Income (a) Six months ended June 30, 2020 Cash Flow Hedges Interest rate $ 624 Interest income — Loans $ 124 Interest rate (6 ) Interest expense — Long-term debt (2 ) Interest rate (20 ) Investment banking and debt placement fees — Net Investment Hedges Foreign exchange contracts — Other Income — Total $ 598 $ 122 Six months ended June 30, 2019 Cash Flow Hedges Interest rate $ 385 Interest income — Loans $ (43 ) Interest rate (3 ) Interest expense — Long-term debt (1 ) Interest rate (6 ) Investment banking and debt placement fees — Net Investment Hedges Foreign exchange contracts (4 ) Other Income — Total $ 372 $ (44 ) Nonhedging instruments The following table summarizes the pre-tax net gains (losses) on our derivatives that are not designated as hedging instruments for the three- and six- month periods ended June 30, 2020 , and June 30, 2019 , and where they are recorded on the income statement. Three months ended June 30, 2020 Three months ended June 30, 2019 in millions Corporate services income Consumer mortgage income Other income Total Corporate services income Consumer mortgage income Other income Total NET GAINS (LOSSES) Interest rate $ 7 — $ — $ 7 $ 7 — — $ 7 Foreign exchange 8 — — 8 11 — — 11 Commodity 6 — — 6 2 — — 2 Credit 6 — (13 ) (7 ) — — $ (8 ) (8 ) Other — 4 16 20 — — 2 2 Total net gains (losses) $ 27 4 $ 3 $ 34 $ 20 — $ (6 ) $ 14 Six months ended June 30, 2020 Six months ended June 30, 2019 in millions Corporate services income Consumer mortgage income Other income Total Corporate services income Consumer mortgage income Other income Total NET GAINS (LOSSES) Interest rate $ 18 $ — $ (9 ) $ 9 $ 15 — $ (2 ) $ 13 Foreign exchange 20 — — 20 21 — — 21 Commodity 8 — — 8 3 — — 3 Credit (10 ) — (12 ) (22 ) 1 — (15 ) (14 ) Other — 8 25 33 — $ — 3 3 Total net gains (losses) $ 36 $ 8 $ 4 $ 48 $ 40 $ — $ (14 ) $ 26 Counterparty Credit Risk We hold collateral in the form of cash and highly rated securities issued by the U.S. Treasury, government-sponsored enterprises, or GNMA. Cash collateral of $169 million was netted against derivative assets on the balance sheet at June 30, 2020 , compared to $207 million of cash collateral netted against derivative assets at December 31, 2019 . The cash collateral netted against derivative liabilities totaled $190 million at June 30, 2020 , and $69 million at December 31, 2019 . Our means of mitigating and managing exposure to credit risk on derivative contracts is described in Note 8 (“ Derivatives and Hedging Activities ”) beginning on page 138 of our 2019 Form 10-K under the heading “Counterparty Credit Risk.” The following table summarizes the fair value of our derivative assets by type at the dates indicated. These assets represent our gross exposure to potential loss after taking into account the effects of bilateral collateral and master netting agreements and other means used to mitigate risk. in millions June 30, 2020 December 31, 2019 Interest rate $ 1,860 $ 848 Foreign exchange 49 30 Commodity 270 95 Credit — — Other 83 14 Derivative assets before collateral 2,262 987 Less: Related collateral 169 207 Total derivative assets $ 2,093 $ 780 We enter into derivative transactions with two primary groups: broker-dealers and banks, and clients. Given that these groups have different economic characteristics, we have different methods for managing counterparty credit exposure and credit risk. We enter into transactions with broker-dealers and banks for various risk management purposes. These types of transactions are primarily high dollar volume. We enter into bilateral collateral and master netting agreements with these counterparties. We clear certain types of derivative transactions with these counterparties, whereby central clearing organizations become the counterparties to our derivative contracts. In addition, we enter into derivative contracts through swap execution facilities. Swap clearing and swap execution facilities reduce our exposure to counterparty credit risk. At June 30, 2020 , we had gross exposure of $623 million to broker-dealers and banks. We had net exposure of $297 million after the application of master netting agreements and cash collateral, where such qualifying agreements exist. We had net exposure of $293 million after considering $4 million of additional collateral held in the form of securities. We enter into transactions using master netting agreements with clients to accommodate their business needs. In most cases, we mitigate our credit exposure by cross-collateralizing these transactions to the underlying loan collateral. For transactions that are not clearable, we mitigate our market risk by buying and selling U.S. Treasuries and Eurodollar futures or entering into offsetting positions. Due to the cross-collateralization to the underlying loan, we typically do not exchange cash or marketable securities collateral in connection with these transactions. To address the risk of default associated with these contracts, we have established a CVA reserve (included in “accrued income and other assets”) in the amount of $74 million at June 30, 2020 . The CVA is calculated from potential future exposures, expected recovery rates, and market-implied probabilities of default. At June 30, 2020 , we had gross exposure of $1.9 billion to client counterparties and other entities that are not broker-dealers or banks for derivatives that have associated master netting agreements. We had net exposure of $1.8 billion on our derivatives with these counterparties after the application of master netting agreements, collateral, and the related reserve. Credit Derivatives We are a buyer and, under limited circumstances, may be a seller of credit protection through the credit derivative market. We purchase credit derivatives to manage the credit risk associated with specific commercial lending and swap obligations as well as exposures to debt securities. Our credit derivative portfolio was in a net liability position of $16 million as of June 30, 2020 , and $9 million as of December 31, 2019 . Our credit derivative portfolio consists of traded credit default swap indices and risk participation agreements. Additional descriptions of our credit derivatives are provided in Note 8 (“ Derivatives and Hedging Activities ”) beginning on page 139 of our 2019 Form 10-K under the heading “Credit Derivatives.” The following table provides information on the types of credit derivatives sold by us and held on the balance sheet at June 30, 2020 , and December 31, 2019 . The notional amount represents the amount that the seller could be required to pay. The payment/performance risk shown in the table represents a weighted average of the default probabilities for all reference entities in the respective portfolios. These default probabilities are implied from observed credit indices in the credit default swap market, which are mapped to reference entities based on Key’s internal risk rating. June 30, 2020 December 31, 2019 dollars in millions Notional Amount Average Term (Years) Payment / Performance Risk Notional Amount Average Term (Years) Payment / Performance Risk Other $ 327 13.94 19.84 % $ 134 14.30 14.56 % Total credit derivatives sold $ 327 — — $ 134 — — Credit Risk Contingent Features We have entered into certain derivative contracts that require us to post collateral to the counterparties when these contracts are in a net liability position. The amount of collateral to be posted is based on the amount of the net liability and thresholds generally related to our long-term senior unsecured credit ratings with Moody’s and S&P. Collateral requirements also are based on minimum transfer amounts, which are specific to each Credit Support Annex (a component of the ISDA Master Agreement) that we have signed with the counterparties. In a limited number of instances, counterparties have the right to terminate their ISDA Master Agreements with us if our ratings fall below a certain level, usually investment-grade level (i.e., “Baa3” for Moody’s and “BBB-” for S&P). At June 30, 2020 , KeyBank’s rating was “ A3 ” with Moody’s and “ A- ” with S&P, and KeyCorp’s rating was “ Baa1 ” with Moody’s and “ BBB+ ” with S&P. As of June 30, 2020 , the aggregate fair value of all derivative contracts with credit risk contingent features (i.e., those containing collateral posting or termination provisions based on our ratings) held by KeyBank that were in a net liability position totaled $109 million , which was comprised of $62 million in derivative assets and $171 million in derivative liabilities. We had $107 million in cash and securities collateral posted to cover those positions as of June 30, 2020 . There were no derivative contracts with credit risk contingent features held by KeyCorp at June 30, 2020 . The following table summarizes the additional cash and securities collateral that KeyBank would have been required to deliver under the ISDA Master Agreements had the credit risk contingent features been triggered for the derivative contracts in a net liability position as of June 30, 2020 , and December 31, 2019 . The additional collateral amounts were calculated based on scenarios under which KeyBank’s ratings are downgraded one, two, or three ratings as of June 30, 2020 , and December 31, 2019 , and take into account all collateral already posted. A similar calculation was performed for KeyCorp, and no additional collateral would have been required as of June 30, 2020 , and December 31, 2019 . For more information about the credit ratings for KeyBank and KeyCorp, see the discussion under the heading “Factors affecting liquidity” in the section entitled “Liquidity risk management” in Item 2 of this report. June 30, 2020 December 31, 2019 in millions Moody’s S&P Moody’s S&P KeyBank’s long-term senior unsecured credit ratings A3 A- A3 A- One rating downgrade $ 1 $ 1 $ 1 $ 1 Two rating downgrades 1 1 1 1 Three rating downgrades 1 1 1 1 KeyBank’s long-term senior unsecured credit rating was four ratings above noninvestment grade at Moody’s and S&P as of June 30, 2020 , and December 31, 2019 . If KeyBank’s ratings had been downgraded below investment grade as of June 30, 2020 , or December 31, 2019 , payments of $2 million and $3 million , respectively, would have been required to either terminate the contracts or post additional collateral for those contracts in a net liability position, taking into account all collateral already posted. If KeyCorp’s ratings had been downgraded below investment grade as of June 30, 2020 , or December 31, 2019 , no payments would have been required to either terminate the contracts or post additional collateral for those contracts in a net liability position, taking into account all collateral already posted.

Mortgage Servicing Assets

Mortgage Servicing Assets	6 Months Ended
	Jun. 30, 2020
Servicing Asset [Abstract]
Mortgage Servicing Assets	8. Mortgage Servicing Assets We originate and periodically sell commercial and residential mortgage loans but continue to service those loans for the buyers. We also may purchase the right to service commercial mortgage loans for other lenders. We record a servicing asset if we purchase or retain the right to service loans in exchange for servicing fees that exceed the going market servicing rate and are considered more than adequate compensation for servicing. Additional information pertaining to the accounting for mortgage and other servicing assets is included in Note 1 (“ Summary of Significant Accounting Policies ”) under the heading “Servicing Assets” beginning on page 106 of our 2019 Form 10-K. Commercial Changes in the carrying amount of commercial mortgage servicing assets are summarized as follows: Three months ended June 30, Six months ended June 30, in millions 2020 2019 2020 2019 Balance at beginning of period $ 543 $ 497 $ 539 $ 502 Servicing retained from loan sales 53 23 77 41 Purchases 7 17 18 23 Amortization (30 ) (28 ) (59 ) (57 ) Temporary impairments (8 ) — (10 ) — Balance at end of period $ 565 $ 509 $ 565 $ 509 Fair value at end of period $ 663 $ 723 $ 663 $ 723 The fair value of commercial mortgage servicing assets is determined by calculating the present value of future cash flows associated with servicing the loans. This calculation uses a number of assumptions that are based on current market conditions. The range and weighted average of the significant unobservable inputs used to determine the fair value of our commercial mortgage servicing assets at June 30, 2020 , and June 30, 2019 , along with the valuation techniques, are shown in the following table: dollars in millions June 30, 2020 June 30, 2019 Valuation Technique Significant Unobservable Input Range (Weighted Average) Discounted cash flow Expected defaults 1.00 - 2.00% (1.15%) 1.00 - 2.00% (1.13%) Residual cash flows discount rate 6.97 - 16.16% (9.42%) 7.00 - 11.54% (9.26%) Escrow earn rate 0.78 - 2.25% (1.66%) 1.92 - 3.13% (2.63%) Loan assumption rate 0.00 - 3.37% (1.32%) 0.00 - 3.02% (1.40%) If these economic assumptions change or prove incorrect, the fair value of commercial mortgage servicing assets may also change. Expected credit losses, escrow earning rates, and discount rates are critical to the valuation of commercial mortgage servicing assets. Estimates of these assumptions are based on how a market participant would view the respective rates, and reflect historical data associated with the commercial mortgage loans, industry trends, and other considerations. Actual rates may differ from those estimated due to changes in a variety of economic factors. A decrease in the value assigned to the escrow earning rates would cause a decrease in the fair value of our commercial mortgage servicing assets. An increase in the assumed default rates of commercial mortgage loans or an increase in the assigned discount rates would cause a decrease in the fair value of our commercial mortgage servicing assets. Prepayment activity on commercial serviced loans does not significantly affect the valuation of our commercial mortgage servicing assets. Unlike residential mortgages, commercial mortgages experience significantly lower prepayments due to certain contractual restrictions affecting the borrower’s ability to prepay the mortgage. The amortization of commercial servicing assets is determined in proportion to, and over the period of, the estimated net servicing income. The amortization of commercial servicing assets for each period, as shown in the table at the beginning of this note, is recorded as a reduction to contractual fee income. The contractual fee income from servicing commercial mortgage loans totaled $99 million for the six-month period ended June 30, 2020 , and $95 million for the six-month period ended June 30, 2019 . This fee income was offset by $59 million of amortization for the six-month period ended June 30, 2020 , and $57 million for the six-month period ended June 30, 2019 . Both the contractual fee income and the amortization are recorded, net, in “commercial mortgage servicing fees” on the income statement. Residential Changes in the carrying amount of residential mortgage servicing assets are summarized as follows: Three months ended June 30, Six months ended June 30, in millions 2020 2019 2020 2019 Balance at beginning of period $ 40 $ 38 $ 46 $ 37 Servicing retained from loan sales 8 2 13 4 Purchases — — — — Amortization (3 ) (1 ) (5 ) (2 ) Temporary (impairments) recoveries 1 — (8 ) — Balance at end of period $ 46 $ 39 $ 46 $ 39 Fair value at end of period $ 46 $ 45 $ 46 $ 45 The fair value of mortgage servicing assets is determined by calculating the present value of future cash flows associated with servicing the loans. This calculation uses a number of assumptions that are based on current market conditions. The range and weighted-average of the significant unobservable inputs used to fair value our mortgage servicing assets at June 30, 2020 , and June 30, 2019 , along with the valuation techniques, are shown in the following table: June 30, 2020 June 30, 2019 Valuation Technique Significant Unobservable Input Range (Weighted Average) Discounted cash flow Prepayment speed 12.29 - 55.18% (16.89%) 10.95 - 62.06% (12.52%) Discount rate 7.55 - 9.27% (7.64%) 7.50 - 10.00% (7.53%) Servicing cost $62 - $5,135 ($77.45) $62 - $4,375 ($67.55) If these economic assumptions change or prove incorrect, the fair value of residential mortgage servicing assets may also change. Prepayment speed, discount rates, and servicing cost are critical to the valuation of servicing assets. Estimates of these assumptions are based on how a market participant would view the respective rates, and reflect historical data associated with the loans, industry trends, and other considerations. Actual rates may differ from those estimated due to changes in a variety of economic factors. An increase in the prepayment speed, assigned discount rates, and servicing cost assumptions would also cause a negative impact on the fair value of our residential mortgage servicing assets. The amortization of residential servicing assets is determined in proportion to, and over the period of, the estimated net residential servicing income. The amortization of servicing assets for June 30, 2020 , as shown in the table above, is recorded as a reduction to contractual fee income. The contractual fee income from servicing residential mortgage loans totaled $14 million for the six-month period ended June 30, 2020 , and $9 million for the six-month period ended June 30, 2019 . This fee income was offset by $5 million of amortization for the six-month period ended June 30, 2020 , and $2 million for the six-month period ended June 30, 2019 . Both the contractual fee income and the amortization are recorded, net, in “consumer mortgage income” on the income statement.

Leases

Leases	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Leases	9. Leases As a lessee, we enter into leases of land, buildings, and equipment. Our real estate leases primarily relate to bank branches and office space. The leases of equipment principally relate to technology assets for data processing and data storage. As a lessor, we primarily provide financing through our equipment leasing business. For more information on our leasing activity, see Note 10 (“Leases”) beginning on page 143 of our 2019 Form 10-K Lessor Equipment Leasing Leases may have fixed or floating rate terms. Variable payments are based on an index or other specified rate and are included in rental payments. Certain leases contain an option to extend the lease term or the option to terminate at the discretion of the lessee. Under certain conditions, lease agreements may also contain the option for a lessee to purchase the underlying asset. Interest income from sales-type and direct financing leases is recognized in "interest income — loans" on the income statement. Income related to operating leases is recognized in “operating lease income and other leasing gains” on the income statement. The components of equipment leasing income are summarized in the table below: Three months ended June 30, Six months ended June 30, in millions 2020 2019 2020 2019 Sales-type and direct financing leases Interest income on lease receivable $ 27 $ 31 $ 55 $ 61 Interest income related to accretion of unguaranteed residual asset 3 3 6 6 Interest income on deferred fees and costs — — — — Total sales-type and direct financing lease income 30 34 61 67 Operating leases Operating lease income related to lease payments 35 33 69 66 Other operating leasing gains 25 11 21 15 Total operating lease income and other leasing gains 60 44 90 81 Total lease income $ 90 $ 78 $ 151 $ 148
Leases	9. Leases As a lessee, we enter into leases of land, buildings, and equipment. Our real estate leases primarily relate to bank branches and office space. The leases of equipment principally relate to technology assets for data processing and data storage. As a lessor, we primarily provide financing through our equipment leasing business. For more information on our leasing activity, see Note 10 (“Leases”) beginning on page 143 of our 2019 Form 10-K Lessor Equipment Leasing Leases may have fixed or floating rate terms. Variable payments are based on an index or other specified rate and are included in rental payments. Certain leases contain an option to extend the lease term or the option to terminate at the discretion of the lessee. Under certain conditions, lease agreements may also contain the option for a lessee to purchase the underlying asset. Interest income from sales-type and direct financing leases is recognized in "interest income — loans" on the income statement. Income related to operating leases is recognized in “operating lease income and other leasing gains” on the income statement. The components of equipment leasing income are summarized in the table below: Three months ended June 30, Six months ended June 30, in millions 2020 2019 2020 2019 Sales-type and direct financing leases Interest income on lease receivable $ 27 $ 31 $ 55 $ 61 Interest income related to accretion of unguaranteed residual asset 3 3 6 6 Interest income on deferred fees and costs — — — — Total sales-type and direct financing lease income 30 34 61 67 Operating leases Operating lease income related to lease payments 35 33 69 66 Other operating leasing gains 25 11 21 15 Total operating lease income and other leasing gains 60 44 90 81 Total lease income $ 90 $ 78 $ 151 $ 148
Leases	9. Leases As a lessee, we enter into leases of land, buildings, and equipment. Our real estate leases primarily relate to bank branches and office space. The leases of equipment principally relate to technology assets for data processing and data storage. As a lessor, we primarily provide financing through our equipment leasing business. For more information on our leasing activity, see Note 10 (“Leases”) beginning on page 143 of our 2019 Form 10-K Lessor Equipment Leasing Leases may have fixed or floating rate terms. Variable payments are based on an index or other specified rate and are included in rental payments. Certain leases contain an option to extend the lease term or the option to terminate at the discretion of the lessee. Under certain conditions, lease agreements may also contain the option for a lessee to purchase the underlying asset. Interest income from sales-type and direct financing leases is recognized in "interest income — loans" on the income statement. Income related to operating leases is recognized in “operating lease income and other leasing gains” on the income statement. The components of equipment leasing income are summarized in the table below: Three months ended June 30, Six months ended June 30, in millions 2020 2019 2020 2019 Sales-type and direct financing leases Interest income on lease receivable $ 27 $ 31 $ 55 $ 61 Interest income related to accretion of unguaranteed residual asset 3 3 6 6 Interest income on deferred fees and costs — — — — Total sales-type and direct financing lease income 30 34 61 67 Operating leases Operating lease income related to lease payments 35 33 69 66 Other operating leasing gains 25 11 21 15 Total operating lease income and other leasing gains 60 44 90 81 Total lease income $ 90 $ 78 $ 151 $ 148
Leases	9. Leases As a lessee, we enter into leases of land, buildings, and equipment. Our real estate leases primarily relate to bank branches and office space. The leases of equipment principally relate to technology assets for data processing and data storage. As a lessor, we primarily provide financing through our equipment leasing business. For more information on our leasing activity, see Note 10 (“Leases”) beginning on page 143 of our 2019 Form 10-K Lessor Equipment Leasing Leases may have fixed or floating rate terms. Variable payments are based on an index or other specified rate and are included in rental payments. Certain leases contain an option to extend the lease term or the option to terminate at the discretion of the lessee. Under certain conditions, lease agreements may also contain the option for a lessee to purchase the underlying asset. Interest income from sales-type and direct financing leases is recognized in "interest income — loans" on the income statement. Income related to operating leases is recognized in “operating lease income and other leasing gains” on the income statement. The components of equipment leasing income are summarized in the table below: Three months ended June 30, Six months ended June 30, in millions 2020 2019 2020 2019 Sales-type and direct financing leases Interest income on lease receivable $ 27 $ 31 $ 55 $ 61 Interest income related to accretion of unguaranteed residual asset 3 3 6 6 Interest income on deferred fees and costs — — — — Total sales-type and direct financing lease income 30 34 61 67 Operating leases Operating lease income related to lease payments 35 33 69 66 Other operating leasing gains 25 11 21 15 Total operating lease income and other leasing gains 60 44 90 81 Total lease income $ 90 $ 78 $ 151 $ 148
Leases	9. Leases As a lessee, we enter into leases of land, buildings, and equipment. Our real estate leases primarily relate to bank branches and office space. The leases of equipment principally relate to technology assets for data processing and data storage. As a lessor, we primarily provide financing through our equipment leasing business. For more information on our leasing activity, see Note 10 (“Leases”) beginning on page 143 of our 2019 Form 10-K Lessor Equipment Leasing Leases may have fixed or floating rate terms. Variable payments are based on an index or other specified rate and are included in rental payments. Certain leases contain an option to extend the lease term or the option to terminate at the discretion of the lessee. Under certain conditions, lease agreements may also contain the option for a lessee to purchase the underlying asset. Interest income from sales-type and direct financing leases is recognized in "interest income — loans" on the income statement. Income related to operating leases is recognized in “operating lease income and other leasing gains” on the income statement. The components of equipment leasing income are summarized in the table below: Three months ended June 30, Six months ended June 30, in millions 2020 2019 2020 2019 Sales-type and direct financing leases Interest income on lease receivable $ 27 $ 31 $ 55 $ 61 Interest income related to accretion of unguaranteed residual asset 3 3 6 6 Interest income on deferred fees and costs — — — — Total sales-type and direct financing lease income 30 34 61 67 Operating leases Operating lease income related to lease payments 35 33 69 66 Other operating leasing gains 25 11 21 15 Total operating lease income and other leasing gains 60 44 90 81 Total lease income $ 90 $ 78 $ 151 $ 148

Variable Interest Entities

Variable Interest Entities	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	10. Variable Interest Entities Our significant VIEs are summarized below. Additional information pertaining to the criteria used in determining if an entity is a VIE is included in Note 13 (“ Variable Interest Entities “) beginning on page 146 of our 2019 Form 10-K. LIHTC investments. We had $1.4 billion and $1.5 billion of investments in LIHTC operating partnerships at June 30, 2020 , and December 31, 2019 , respectively. These investments are recorded in “accrued income and other assets” on our balance sheet. We do not have any loss reserves recorded related to these investments because we believe the likelihood of any loss to be remote. For all legally binding, unfunded equity commitments, we increase our recognized investment and recognize a liability. As of June 30, 2020 , and December 31, 2019 , we had liabilities of $465 million and $546 million , respectively, related to investments in qualified affordable housing projects, which are recorded in “accrued expenses and other liabilities” on our balance sheet. We continue to invest in these LIHTC operating partnerships. The assets and liabilities presented in the table below convey the size of KCDC’s direct and indirect investments at June 30, 2020 , and December 31, 2019 . As these investments represent unconsolidated VIEs, the assets and liabilities of the investments themselves are not recorded on our balance sheet. Additional information pertaining to our LIHTC investments is included in Note 13 (“ Variable Interest Entities ”) beginning on page 146 of our 2019 Form 10-K. Unconsolidated VIEs in millions Total Assets Total Liabilities Maximum Exposure to Loss June 30, 2020 LIHTC investments $ 6,300 $ 2,534 $ 1,760 December 31, 2019 LIHTC investments $ 6,405 $ 2,526 $ 1,846 We amortize our LIHTC investments over the period that we expect to receive the tax benefits. During the first six months of 2020 , we recognized $97 million of amortization and $90 million of tax credits associated with these investments within “income taxes” on our income statement. During the first six months of 2019 , we recognized $89 million of amortization and $92 million of tax credits associated with these investments within “income taxes” on our income statement. Principal investments. Our maximum exposure to loss associated with indirect principal investments consists of the investments’ fair value plus any unfunded equity commitments. The fair value of our indirect principal investments totaled $56 million and $68 million at June 30, 2020 , and December 31, 2019 , respectively. These investments are recorded in “other investments” on our balance sheet. The table below reflects the size of the private equity funds in which we were invested as well as our maximum exposure to loss in connection with these investments at June 30, 2020 , and December 31, 2019 . Unconsolidated VIEs in millions Total Assets Total Liabilities Maximum Exposure to Loss June 30, 2020 Indirect investments $ 9,930 $ 177 $ 74 December 31, 2019 Indirect investments $ 12,954 $ 205 $ 89 Through our principal investing entities, we have formed and funded operating entities that provide management and other related services to our investment company funds, which directly invest in portfolio companies. These entities had no assets at June 30, 2020 , and December 31, 2019 , that can be used to settle the entities’ obligations. The entities had no liabilities at June 30, 2020 , and December 31, 2019 , and other equity investors have no recourse to our general credit. Additional information on our indirect and direct principal investments is provided in Note 5 (“ Fair Value Measurements ”) and in Note 13 (“ Variable Interest Entities “) beginning on page 146 of our 2019 Form 10-K. Other unconsolidated VIEs. We are involved with other various entities in the normal course of business which we have determined to be VIEs. We have determined that we are not the primary beneficiary of these VIEs because we do not have the power to direct the activities that most significantly impact their economic performance. Our assets associated with these unconsolidated VIEs totaled $300 million at June 30, 2020 , and $282 million at December 31, 2019 . These assets are recorded in “accrued income and other assets,” “other investments,” “securities available for sale,” and “loans, net of unearned income” on our balance sheet. We had liabilities totaling $1 million and $1 million associated with these unconsolidated VIEs at June 30, 2020 , and December 31, 2019 , respectively. Additional information pertaining to our other unconsolidated VIEs is included in Note 13 (“ Variable Interest Entities “) under the heading “Other unconsolidated VIEs” on page 148 of our 2019 Form 10-K.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes Income Tax Provision In accordance with the applicable accounting guidance, the principal method established for computing the provision for income taxes in interim periods requires us to make our best estimate of the effective tax rate expected to be applicable for the full year. This estimated effective tax rate is then applied to interim consolidated pre-tax operating income to determine the interim provision for income taxes. The effective tax rate, which is the provision for income taxes as a percentage of income before income taxes, was 14.0% for the second quarter of 2020 and 16.8% for the second quarter of 2019 . The effective tax rates are less than our combined federal and state statutory tax rate of 23.7% , primarily due to income from investments in tax-advantaged assets such as corporate-owned life insurance and credits associated with renewable energy and low-income housing investments. Deferred Taxes At June 30, 2020 , we had a net deferred tax liability of $177 million , compared to a net deferred tax liability of $89 million at December 31, 2019 , which are both included in “accrued income and other assets” on the balance sheet. To determine the amount of deferred tax assets that are more likely than not to be realized, and therefore recorded, we conduct a quarterly assessment of all available evidence. This evidence includes, but is not limited to, taxable income in prior periods, projected future taxable income, and projected future reversals of deferred tax items. These assessments involve a degree of subjectivity and may undergo change. Based on these criteria, we had no valuation allowance at June 30, 2020 , and December 31, 2019 . Unrecognized Tax Benefits At June 30, 2020 , Key’s unrecognized tax benefits were $18 million . As permitted under the applicable accounting guidance for income taxes, it is our policy to recognize interest and penalties related to unrecognized tax benefits in “income tax expense.” Pre-1988 Bank Reserves Acquired in a Business Combination Retained earnings of KeyBank included approximately $92 million of allocated bad debt deductions for which no income taxes have been recorded. Under current federal law, these reserves are subject to recapture into taxable income if KeyBank, or any successor, fails to maintain its bank status under the Internal Revenue Code or makes non-dividend distributions or distributions greater than its accumulated earnings and profits. No deferred tax liability has been established as these events are not expected to occur in the foreseeable future.

Acquisitions and Discontinued O

Acquisitions and Discontinued Operations	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Acquisitions and Discontinued Operations	12. Acquisition and Discontinued Operations Acquisition Laurel Road Digital Lending Business. On April 3, 2019, KeyBank acquired Laurel Road's digital lending business from Laurel Road Bank. Laurel Road Bank's three bank branches located in southeast Connecticut were not part of this transaction. Through the acquisition, KeyBank expects to enhance its digital capabilities with state-of-the-art, customer-centric technology and to leverage Laurel Road's proven ability to attract and serve professional millennial clients. The acquisition is accounted for as a business combination. As a result of the acquisition, we recognized identifiable intangible assets with a fair value of $37 million and goodwill of $148 million . The valuation of the acquired assets and liabilities of Laurel Road was final at June 30, 2020. Discontinued operations Discontinued operations primarily includes our government-guaranteed and private education lending business. At June 30, 2020 , and December 31, 2019 , approximately $780 million and $865 million , respectively, of education loans are included in discontinued assets on the consolidated balance sheets. Net interest income after provision for credit losses for this business is not material and is included in income (loss) from discontinued operations, net of taxes on the consolidated statements of income.

Securities Financing Activities

Securities Financing Activities	6 Months Ended
	Jun. 30, 2020
Banking and Thrift, Other Disclosures [Abstract]
Securities Financing Activities	13. Securities Financing Activities We enter into repurchase agreements to finance overnight customer sweep deposits. We also enter into repurchase and reverse repurchase agreements to settle other securities obligations. We account for these securities financing agreements as collateralized financing transactions. Repurchase and reverse repurchase agreements are recorded on the balance sheet at the amounts for which the securities will be subsequently sold or repurchased. Securities borrowed transactions are recorded on the balance sheet at the amounts of cash collateral advanced. While our securities financing agreements incorporate a right of set off, the assets and liabilities are reported on a gross basis. Reverse repurchase agreements and securities borrowed transactions are included in “short-term investments” on the balance sheet; repurchase agreements are included in “federal funds purchased and securities sold under repurchase agreements.” Additional information regarding our securities financing activities, including risk management activities, is provided in Note 16 (“ Securities Financing Activities ”) beginning on page 151 of our 2019 Form 10-K. The following table summarizes our securities financing agreements at June 30, 2020 , and December 31, 2019 : June 30, 2020 December 31, 2019 in millions Gross Amount Presented in Balance Sheet Netting Adjustments (a) Collateral (b) Net Amounts Gross Amount Presented in Balance Sheet Netting Adjustments (a) Collateral (b) Net Amounts Offsetting of financial assets: Reverse repurchase agreements $ 9 $ (6 ) (3 ) — $ 5 $ (5 ) — — Total $ 9 $ (6 ) (3 ) — $ 5 $ (5 ) — — Offsetting of financial liabilities: Repurchase agreements (c) $ 267 $ (6 ) $ (261 ) — $ 187 $ (7 ) $ (180 ) — Total $ 267 $ (6 ) $ (261 ) — $ 187 $ (7 ) $ (180 ) — (a) Netting adjustments take into account the impact of master netting agreements that allow us to settle with a single counterparty on a net basis. (b) These adjustments take into account the impact of bilateral collateral agreements that allow us to offset the net positions with the related collateral. The application of collateral cannot reduce the net position below zero. Therefore, excess collateral, if any, is not reflected above. (c) Repurchase agreements are collateralized by mortgaged-backed agency securities and are contracted on an overnight or continuous basis. As of June 30, 2020 , the carrying amount of assets pledged as collateral against repurchase agreements totaled $396 million . Assets pledged as collateral are reported in “securities available for sale” and “held-to-maturity securities” on our balance sheet. At June 30, 2020 , the liabilities associated with collateral pledged were solely comprised of customer sweep financing activity and had a carrying value of $260 million . The collateral pledged under customer sweep repurchase agreements is posted to a third-party custodian and cannot be sold or repledged by the secured party. The risk related to a decline in the market value of collateral pledged is minimal given the collateral's high credit quality and the overnight duration of the repurchase agreements.

Employee Benefits

Employee Benefits	6 Months Ended
	Jun. 30, 2020
Retirement Benefits [Abstract]
Employee Benefits	14. Employee Benefits Pension Plans The components of net pension cost (benefit) for all funded and unfunded plans are recorded in “other expense” and are summarized in the following table. For more information on our Pension Plans and Other Postretirement Benefit Plans, see Note 18 (“ Employee Benefits ”) beginning on page 155 of our 2019 Form 10-K. Three months ended June 30, Six months ended June 30, in millions 2020 2019 2020 2019 Interest cost on PBO $ 8 $ 12 $ 17 $ 23 Expected return on plan assets (9 ) (12 ) (19 ) (24 ) Amortization of losses 4 3 8 7 Settlement loss 4 — 8 — Net pension cost $ 7 $ 3 $ 14 $ 6

Trust Preferred Securities Issu

Trust Preferred Securities Issued by Unconsolidated Subsidiaries	6 Months Ended
	Jun. 30, 2020
Banking and Thrift, Other Disclosures [Abstract]
Trust Preferred Securities Issued by Unconsolidated Subsidiaries	15. Trust Preferred Securities Issued by Unconsolidated Subsidiaries We own the outstanding common stock of business trusts formed by us that issued corporation-obligated, mandatorily redeemable, trust preferred securities. The trusts used the proceeds from the issuance of their trust preferred securities and common stock to buy debentures issued by KeyCorp. These debentures are the trusts’ only assets; the interest payments from the debentures finance the distributions paid on the mandatorily redeemable trust preferred securities. The outstanding common stock of these business trusts is recorded in “other investments” on our balance sheet. We unconditionally guarantee the following payments or distributions on behalf of the trusts: • required distributions on the trust preferred securities; • the redemption price when a capital security is redeemed; and • the amounts due if a trust is liquidated or terminated. The Regulatory Capital Rules, discussed in “Supervision and regulation” in Item 2 of this report, require us to treat our mandatorily redeemable trust preferred securities as Tier 2 capital. The trust preferred securities, common stock, and related debentures are summarized as follows: dollars in millions Trust Preferred Securities, Net of Discount (a) Common Stock Principal Amount of Debentures, Net of Discount (b) Interest Rate of Trust Preferred Securities and Debentures (c) Maturity of Trust Preferred Securities and Debentures June 30, 2020 KeyCorp Capital I $ 156 $ 6 $ 162 2.173 % 2028 KeyCorp Capital II 114 4 118 6.875 2029 KeyCorp Capital III 149 4 153 7.750 2029 HNC Statutory Trust III 19 1 20 1.760 2035 Willow Grove Statutory Trust I 19 1 20 1.631 2036 HNC Statutory Trust IV 17 1 18 2.040 2037 Westbank Capital Trust II 8 — 8 2.496 2034 Westbank Capital Trust III 8 — 8 2.496 2034 Total $ 490 $ 17 $ 507 4.932 % — December 31, 2019 $ 466 $ 17 $ 483 5.214 % — (a) The trust preferred securities must be redeemed when the related debentures mature, or earlier if provided in the governing indenture. Each issue of trust preferred securities carries an interest rate identical to that of the related debenture. Certain trust preferred securities include basis adjustments related to fair value hedges totaling $78 million at June 30, 2020 , and $57 million at December 31, 2019 . See Note 7 (“ Derivatives and Hedging Activities ”) for an explanation of fair value hedges. (b) We have the right to redeem these debentures. If the debentures purchased by KeyCorp Capital I, HNC Statutory Trust III, Willow Grove Statutory Trust I, HNC Statutory Trust IV, Westbank Capital Trust II, or Westbank Capital Trust III are redeemed before they mature, the redemption price will be the principal amount, plus any accrued but unpaid interest. If the debentures purchased by KeyCorp Capital II or KeyCorp Capital III are redeemed before they mature, the redemption price will be the greater of: (i) the principal amount, plus any accrued but unpaid interest, or (ii) the sum of the present values of principal and interest payments discounted at the Treasury Rate (as defined in the applicable indenture), plus 20 basis points for KeyCorp Capital II or 25 basis points for KeyCorp Capital III, or 50 basis points in the case of redemption upon either a tax or a capital treatment event for either KeyCorp Capital II or KeyCorp Capital III, plus any accrued but unpaid interest. The principal amount of certain debentures includes basis adjustments related to fair value hedges totaling $78 million at June 30, 2020 , and $57 million at December 31, 2019 . See Note 7 (“ Derivatives and Hedging Activities ”) for an explanation of fair value hedges. The principal amount of debentures, net of discounts, is included in “long-term debt” on the balance sheet. (c) The interest rates for the trust preferred securities issued by KeyCorp Capital II and KeyCorp Capital III are fixed. The trust preferred securities issued by KeyCorp Capital I have a floating interest rate, equal to three-month LIBOR plus 74 basis points, that reprices quarterly. The trust preferred securities issued by HNC Statutory Trust III have a floating interest rate, equal to three-month LIBOR plus 140 basis points, that reprices quarterly. The trust preferred securities issued by Willow Grove Statutory Trust I have a floating interest rate, equal to three-month LIBOR plus 131 basis points, that reprices quarterly. The trust preferred securities issued by HNC Statutory Trust IV have a floating interest rate, equal to three-month LIBOR plus 128 basis points, that reprices quarterly. The trust preferred securities issued by Westbank Capital Trust II and Westbank Capital Trust III each have a floating interest rate, equal to three-month LIBOR plus 219 basis points, that reprices quarterly. The total interest rates are weighted-average rates.

Contingent Liabilities and Guar

Contingent Liabilities and Guarantees	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Contingent Liabilities and Guarantees	16. Contingent Liabilities and Guarantees Legal Proceedings Litigation. From time to time, in the ordinary course of business, we and our subsidiaries are subject to various litigation, investigations, and administrative proceedings. Private, civil litigations may range from individual actions involving a single plaintiff to putative class action lawsuits with potentially thousands of class members. Investigations may involve both formal and informal proceedings, by both government agencies and self-regulatory bodies. These matters may involve claims for substantial monetary relief. At times, these matters may present novel claims or legal theories. Due to the complex nature of these various other matters, it may be years before some matters are resolved. While it is impossible to ascertain the ultimate resolution or range of financial liability, based on information presently known to us, we do not believe there is any matter to which we are a party, or involving any of our properties that, individually or in the aggregate, would reasonably be expected to have a material adverse effect on our financial condition. We continually monitor and reassess the potential materiality of these litigation matters. We note, however, that in light of the inherent uncertainty in legal proceedings there can be no assurance that the ultimate resolution will not exceed established reserves. As a result, the outcome of a particular matter, or a combination of matters, may be material to our results of operations for a particular period, depending upon the size of the loss or our income for that particular period. Guarantees We are a guarantor in various agreements with third parties. The following table shows the types of guarantees that we had outstanding at June 30, 2020 . Information pertaining to the basis for determining the liabilities recorded in connection with these guarantees is included in Note 1 (“ Summary of Significant Accounting Policies ”) under the heading “Contingencies and Guarantees” beginning on page 108 of our 2019 Form 10-K. June 30, 2020 Maximum Potential Undiscounted Future Payments Liability Recorded in millions Financial guarantees: Standby letters of credit $ 3,048 $ 69 Recourse agreement with FNMA 5,463 22 Residential mortgage reserve 2,057 8 Written put options (a) 3,276 84 Total $ 13,844 $ 183 (a) The maximum potential undiscounted future payments represent notional amounts of derivatives qualifying as guarantees. We determine the payment/performance risk associated with each type of guarantee described below based on the probability that we could be required to make the maximum potential undiscounted future payments shown in the preceding table. We use a scale of low ( 0% to 30% probability of payment), moderate (greater than 30% to 70% probability of payment), or high (greater than 70% probability of payment) to assess the payment/performance risk, and have determined that the payment/performance risk associated with each type of guarantee outstanding at June 30, 2020 , is low. Information pertaining to the nature of each of the guarantees listed below is included in Note 22 (“ Commitments, Contingent Liabilities, and Guarantees ”) under the heading “Guarantees” beginning on page 165 of our 2019 Form 10-K. Standby letters of credit. At June 30, 2020 , our standby letters of credit had a remaining weighted-average life of two years , with remaining actual lives ranging from less than one year to as many as 15 years . Recourse agreement with FNMA. At June 30, 2020 , the outstanding commercial mortgage loans in this program had a weighted-average remaining term of 7.9 years , and the unpaid principal balance outstanding of loans sold by us as a participant was $18.2 billion . The maximum potential amount of undiscounted future payments that we could be required to make under this program, as shown in the preceding table, is equal to approximately 30% of the principal balance of loans outstanding at June 30, 2020 . FNMA delegates responsibility for originating, underwriting, and servicing mortgages, and we assume a limited portion of the risk of loss during the remaining term on each commercial mortgage loan that we sell to FNMA. We maintain a reserve for such potential losses in an amount that we believe approximates the fair value of our liability in addition to the expected credit loss for the guarantee as described in Note 4 (“ Asset Quality “). Residential Mortgage Banking. At June 30, 2020 , the unpaid principal balance outstanding of loans sold by us in this program was $6.9 billion . The maximum potential amount of undiscounted future payments that we could be required to make under this program, as shown in the preceding table, is equal to approximately 30% of the principal balance of loans outstanding at June 30, 2020 . Our liability for estimated repurchase obligations on loans sold, which is included in other liabilities on our balance sheet, was $8 million at June 30, 2020 . For more information on our residential mortgages, see Note 8 (“ Mortgage Servicing Assets “). Written put options. At June 30, 2020 , our written put options had an average life of three years . These written put options are accounted for as derivatives at fair value, as further discussed in Note 7 (“ Derivatives and Hedging Activities ”). Written put options where the counterparty is a broker-dealer or bank are accounted for as derivatives at fair value but are not considered guarantees since these counterparties typically do not hold the underlying instruments. In addition, we are a purchaser and seller of credit derivatives, which are further discussed in Note 7 (“ Derivatives and Hedging Activities ”). Other Off-Balance Sheet Risk Other off-balance sheet risk stems from financial instruments that do not meet the definition of a guarantee as specified in the applicable accounting guidance, and from other relationships. Additional information pertaining to types of other off-balance sheet risk is included in Note 22 (“ Commitments, Contingent Liabilities, and Guarantees ”) under the heading “Other Off-Balance Sheet Risk” on page 168 of our 2019 Form 10-K.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Accumulated Other Comprehensive Income	17. Accumulated Other Comprehensive Income Our changes in AOCI for the three and six months ended June 30, 2020 , and June 30, 2019 , are as follows: in millions Unrealized gains (losses) on securities available for sale Unrealized gains (losses) on derivative financial instruments Foreign currency translation adjustment Net pension and postretirement benefit costs Total Balance at December 31, 2019 $ 115 $ 250 — $ (339 ) $ 26 Other comprehensive income before reclassification, net of income taxes 538 456 — — 994 Amounts reclassified from AOCI, net of income taxes (a) (3 ) (93 ) — 12 (84 ) Net current-period other comprehensive income, net of income taxes 535 363 — 12 910 Balance at June 30, 2020 $ 650 $ 613 — $ (327 ) $ 936 Balance at March 31, 2020 $ 520 $ 627 — $ (333 ) $ 814 Other comprehensive income before reclassification, net of income taxes 130 54 — — 184 Amounts reclassified from AOCI, net of income taxes (a) — (68 ) — 6 (62 ) Net current-period other comprehensive income, net of income taxes 130 (14 ) — 6 122 Balance at June 30, 2020 $ 650 $ 613 — $ (327 ) $ 936 Balance at December 31, 2018 $ (373 ) $ (50 ) $ (14 ) $ (381 ) $ (818 ) Other comprehensive income before reclassification, net of income taxes 475 284 4 14 777 Amounts reclassified from AOCI, net of income taxes (a) — 34 — 5 39 Net current-period other comprehensive income, net of income taxes 475 318 4 19 816 Balance at June 30, 2019 $ 102 $ 268 $ (10 ) $ (362 ) $ (2 ) Balance at March 31, 2019 $ (189 ) $ 49 $ (11 ) $ (379 ) $ (530 ) Other comprehensive income before reclassification, net of income taxes 291 204 1 15 511 Amounts reclassified from AOCI, net of income taxes (a) — 15 — 2 17 Net current-period other comprehensive income, net of income taxes 291 219 1 17 528 Balance at June 30, 2019 $ 102 $ 268 $ (10 ) $ (362 ) $ (2 ) (a) See table below for details about these reclassifications. Our reclassifications out of AOCI for the three and six months ended June 30, 2020 , and June 30, 2019 , are as follows: Three months ended June 30, Affected Line Item in the Statement Where Net Income is Presented in millions 2020 2019 Unrealized gains (losses) on derivative financial instruments Interest rate $ 90 $ (19 ) Interest income — Loans Interest rate (1 ) — Interest expense — Long-term debt 89 (19 ) Income (loss) from continuing operations before income taxes 21 (4 ) Income taxes $ 68 (15 ) Income (loss) from continuing operations Net pension and postretirement benefit costs Amortization of losses $ (4 ) $ (3 ) Other expense Settlement loss (4 ) — Other expense (8 ) (3 ) Income (loss) from continuing operations before income taxes (2 ) (1 ) Income taxes $ (6 ) $ (2 ) Income (loss) from continuing operations Six months ended June 30, Affected Line Item in the Statement Where Net Income is Presented in millions 2020 2019 Unrealized gains (losses) on available for sale securities Realized gains $ 4 — Other income 4 — Income (loss) from continuing operations before income taxes 1 — Income taxes $ 3 — Income (loss) from continuing operations Unrealized gains (losses) on derivative financial instruments Interest rate $ 124 $ (43 ) Interest income — Loans Interest rate (2 ) (1 ) Interest expense — Long-term debt 122 (44 ) Income (loss) from continuing operations before income taxes 29 (10 ) Income taxes $ 93 (34 ) Income (loss) from continuing operations Net pension and postretirement benefit costs Amortization of losses $ (8 ) $ (7 ) Other expense Settlement loss (8 ) — Other expense (16 ) (7 ) Income (loss) from continuing operations before income taxes (4 ) (2 ) Income taxes $ (12 ) $ (5 ) Income (loss) from continuing operations

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Shareholders' Equity	18. Shareholders' Equity Comprehensive Capital Plan Consistent with our 2019 capital plan, the Board declared a quarterly dividend of $.185 per Common Share for the second quarter of 2020 . Per our announcement on March 17, 2020, share repurchase activity has been temporarily suspended in response to the COVID-19 pandemic. Preferred Stock Preferred stock series Amount outstanding (in millions) Shares authorized and outstanding Par value Liquidation preference Ownership interest per depositary share Liquidation preference per depositary share Second quarter 2020 dividends paid per depositary share Fixed-to-Floating Rate Perpetual Noncumulative Series D $ 525 21,000 $ 1 $ 25,000 1/25th $ 1,000 $ 12.50 Fixed-to-Floating Rate Perpetual Noncumulative Series E 500 500,000 1 1,000 1/40th 25 .382813 Fixed Rate Perpetual Noncumulative Series F 425 425,000 1 1,000 1/40th 25 .353125 Fixed Rate Perpetual Non-Cumulative Series G 450 450,000 1 1,000 1/40th 25 .351563

Business Segment Reporting

Business Segment Reporting	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Business Segment Reporting	19. Business Segment Reporting Consumer Bank The Consumer Bank serves individuals and small businesses throughout our 15 -state branch footprint by offering a variety of deposit and investment products, personal finance and financial wellness services, lending, mortgage and home equity, student loan refinancing, credit card, treasury services, and business advisory services. The Consumer Bank also purchases retail auto sales contracts via a network of auto dealerships. The auto dealerships finance the sale of automobiles as the initial lender and then assign the contracts to us pursuant to dealer agreements. In addition, wealth management and investment services are offered to assist institutional, non-profit, and high-net-worth clients with their banking, trust, portfolio management, life insurance, charitable giving, and related needs. Commercial Bank The Commercial Bank is an aggregation of our Institutional and Commercial operating segments. The Commercial operating segment is a full-service corporate bank focused principally on serving the needs of middle market clients in seven industry sectors: consumer, energy, healthcare, industrial, public sector, real estate, and technology. The Commercial operating segment is also a significant servicer of commercial mortgage loans and a significant special servicer of CMBS. The Institutional operating segment delivers a broad suite of banking and capital markets products to its clients, including syndicated finance, debt and equity capital markets, commercial payments, equipment finance, commercial mortgage banking, derivatives, foreign exchange, financial advisory, and public finance. Other Other includes various corporate treasury activities such as management of our investment securities portfolio, long-term debt, short-term liquidity and funding activities, and balance sheet risk management, our principal investing unit, and various exit portfolios as well as reconciling items which primarily represents the unallocated portion of nonearning assets of corporate support functions. Charges related to the funding of these assets are part of net interest income and are allocated to the business segments through noninterest expense. Reconciling items also include intercompany eliminations and certain items that are not allocated to the business segments because they do not reflect their normal operations. The development and application of the methodologies that we use to allocate items among our business segments is a dynamic process. Accordingly, financial results may be revised periodically to reflect enhanced alignment of expense base allocations drivers, changes in the risk profile of a particular business, or changes in our organizational structure. The table below shows selected financial data for our business segments for the three- and six- month periods ended June 30, 2020 , and June 30, 2019 . Three months ended June 30, Consumer Bank Commercial Bank Other Total Key dollars in millions 2020 2019 2020 2019 2020 2019 2020 2019 SUMMARY OF OPERATIONS Net interest income (TE) $ 594 $ 594 $ 442 $ 405 $ (11 ) $ (10 ) $ 1,025 $ 989 Noninterest income 247 231 405 355 40 36 692 622 Total revenue (TE) (a) 841 825 847 760 29 26 1,717 1,611 Provision for credit losses 167 40 314 33 1 1 482 74 Depreciation and amortization expense 20 25 37 35 34 37 91 97 Other noninterest expense 535 527 366 354 21 41 922 922 Income (loss) from continuing operations before income taxes (TE) 119 233 130 338 (27 ) (53 ) 222 518 Allocated income taxes and TE adjustments 28 56 10 61 (1 ) (22 ) 37 95 Income (loss) from continuing operations 91 177 120 277 (26 ) (31 ) 185 423 Income (loss) from discontinued operations, net of taxes — — — — 2 2 2 2 Net income (loss) 91 177 120 277 (24 ) (29 ) 187 425 Less: Net income (loss) attributable to noncontrolling interests — — — — — — — — Net income (loss) attributable to Key $ 91 $ 177 $ 120 $ 277 $ (24 ) $ (29 ) $ 187 $ 425 AVERAGE BALANCES (b) Loans and leases $ 39,197 $ 31,881 $ 68,038 $ 57,918 $ 706 $ 986 $ 107,941 $ 90,785 Total assets (a) 44,106 35,469 76,974 65,901 43,019 41,265 164,099 142,635 Deposits 79,502 72,303 46,099 35,960 2,376 1,338 127,977 109,601 OTHER FINANCIAL DATA Net loan charge-offs (b) $ 39 $ 40 $ 57 $ 23 $ 1 $ 2 $ 97 $ 65 Return on average allocated equity (b) 10.38 % 21.75 % 10.00 % 24.09 % (1.12 )% (1.44 )% 4.21 % 10.26 % Return on average allocated equity 10.38 21.75 10.00 24.09 (1.03 ) (1.34 ) 4.25 10.31 Average full-time equivalent employees (c) 8,863 9,440 2,096 2,260 5,687 5,506 16,646 17,206 (a) Substantially all revenue generated by our major business segments is derived from clients that reside in the United States. Substantially all long-lived assets, including premises and equipment, capitalized software, and goodwill held by our major business segments, are located in the United States. (b) From continuing operations. (c) The number of average full-time equivalent employees was not adjusted for discontinued operations. Six months ended June 30, Consumer Bank Commercial Bank Other Total Key dollars in millions 2020 2019 2020 2019 2020 2019 2020 2019 SUMMARY OF OPERATIONS Net interest income (TE) $ 1,184 $ 1,185 $ 852 $ 807 $ (22 ) $ (18 ) $ 2,014 $ 1,974 Noninterest income 478 445 624 654 67 59 1,169 1,158 Total revenue (TE) (a) 1,662 1,630 1,476 1,461 45 41 3,183 3,132 Provision for credit losses 307 85 529 49 5 2 841 136 Depreciation and amortization expense 41 48 73 65 68 72 182 185 Other noninterest expense 1,058 1,044 681 697 23 56 1,762 1,797 Income (loss) from continuing operations before income taxes (TE) 256 453 193 650 (51 ) (89 ) 398 1,014 Allocated income taxes and TE adjustments 61 108 3 123 4 (46 ) 68 185 Income (loss) from continuing operations 195 345 190 527 (55 ) (43 ) 330 829 Income (loss) from discontinued operations, net of taxes — — — — 3 3 3 3 Net income (loss) 195 345 190 527 (52 ) (40 ) 333 832 Less: Net income (loss) attributable to noncontrolling interests — — — — — — — — Net income (loss) attributable to Key $ 195 $ 345 $ 190 $ 527 $ (52 ) (d) $ (40 ) $ 333 $ 832 AVERAGE BALANCES (b) Loans and leases $ 37,197 $ 31,603 $ 64,060 $ 57,594 $ 801 $ 1,023 $ 102,058 $ 90,220 Total assets (a) 41,283 35,103 73,178 65,390 40,703 40,892 155,164 141,385 Deposits 76,411 71,798 41,078 35,193 1,664 1,603 119,153 108,594 OTHER FINANCIAL DATA Net loan charge-offs (b) $ 83 $ 74 $ 97 $ 53 1 2 $ 181 $ 129 Return on average allocated equity (b) 11.21 % 21.51 % 8.03 % 23.36 % (1.20 )% (1.04 )% 3.80 % 10.37 % Return on average allocated equity 11.21 21.51 8.03 23.36 (1.14 ) (.97 ) 3.84 10.41 Average full-time equivalent employees (c) 8,885 9,531 2,082 2,314 5,620 5,534 16,587 17,379 (a) Substantially all revenue generated by our major business segments is derived from clients that reside in the United States. Substantially all long-lived assets, including premises and equipment, capitalized software, and goodwill held by our major business segments, are located in the United States. (b) From continuing operations. (c) The number of average full-time equivalent employees was not adjusted for discontinued operations.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	20. Revenue from Contracts with Customers The following table represents a disaggregation of revenue from contracts with customers, by business segment, for the three- and six- month periods ended June 30, 2020 , and June 30, 2019 . Three months ended June 30, 2020 Three months ended June 30, 2019 dollars in millions Consumer Bank Commercial Bank Total Contract Revenue Consumer Bank Commercial Bank Total Contract Revenue NONINTEREST INCOME Trust and investment services income $ 87 $ 15 $ 102 $ 92 $ 17 $ 109 Investment banking and debt placement fees — 60 60 — 65 65 Services charges on deposit accounts 38 30 68 56 27 83 Cards and payments income 37 52 89 44 28 72 Other noninterest income 2 — 2 4 — 4 Total revenue from contracts with customers $ 164 $ 157 $ 321 $ 196 $ 137 $ 333 Other noninterest income (a) $ 331 $ 253 Noninterest income from Other (b) 40 36 Total noninterest income $ 692 $ 622 (a) Noninterest income considered earned outside the scope of contracts with customers. (b) Other includes other segments that consists of corporate treasury, our principal investing unit, and various exit portfolios as well as reconciling items which primarily represents the unallocated portion of nonearning assets of corporate support functions. Charges related to the funding of these assets are part of net interest income and are allocated to the business segments through noninterest expense. Reconciling items also includes intercompany eliminations and certain items that are not allocated to the business segments because they do not reflect their normal operations. Refer to Note 19 (“ Business Segment Reporting ”) for more information. Six months ended June 30, 2020 Six months ended June 30, 2019 dollars in millions Consumer Bank Commercial Bank Total Contract Revenue Consumer Bank Commercial Bank Total Contract Revenue NONINTEREST INCOME Trust and investment services income $ 179 $ 34 $ 213 $ 176 $ 32 $ 208 Investment banking and debt placement fees — 107 107 — 110 110 Services charges on deposit accounts 94 58 152 111 55 166 Cards and payments income 75 78 153 81 54 135 Other noninterest income 4 — 4 6 — 6 Total revenue from contracts with customers $ 352 $ 277 $ 629 $ 374 $ 251 $ 625 Other noninterest income (a) $ 473 $ 474 Noninterest income from Other (b) 67 59 Total noninterest income $ 1,169 $ 1,158 (a) Noninterest income considered earned outside the scope of contracts with customers. (b) Other includes other segments that consists of corporate treasury, our principal investing unit, and various exit portfolios as well as reconciling items which primarily represents the unallocated portion of nonearning assets of corporate support functions. Charges related to the funding of these assets are part of net interest income and are allocated to the business segments through noninterest expense. Reconciling items also includes intercompany eliminations and certain items that are not allocated to the business segments because they do not reflect their normal operations. Refer to Note 19 (“ Business Segment Reporting ”) for more information. We had no material contract assets or contract liabilities as of June 30, 2020 , and June 30, 2019 .

Basis of Presentation and Acc_2

Basis of Presentation and Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation	The consolidated financial statements include the accounts of KeyCorp and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Some previously reported amounts have been reclassified to conform to current reporting practices. The consolidated financial statements include any voting rights entities in which we have a controlling financial interest. In accordance with the applicable accounting guidance for consolidations, we consolidate a VIE if we have: (i) a variable interest in the entity; (ii) the power to direct activities of the VIE that most significantly affect the entity’s economic performance; and (iii) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE (i.e., we are considered to be the primary beneficiary). Variable interests can include equity interests, subordinated debt, derivative contracts, leases, service agreements, guarantees, standby letters of credit, loan commitments, and other contracts, agreements, and financial instruments. See Note 10 (“ Variable Interest Entities ”) for information on our involvement with VIEs. We use the equity method to account for unconsolidated investments in voting rights entities or VIEs if we have significant influence over the entity’s operating and financing decisions (usually defined as a voting or economic interest of 20% to 50% , but not controlling). Unconsolidated investments in voting rights entities or VIEs in which we have a voting or economic interest of less than 20% are carried at the cost measurement alternative or at fair value. Investments held by our registered broker-dealer and investment company subsidiaries (principal investing entities and Real Estate Capital line of business) are carried at fair value. We believe that the unaudited consolidated interim financial statements reflect all adjustments of a normal recurring nature and disclosures that are necessary for a fair presentation of the results for the interim periods presented. The results of operations for the interim period are not necessarily indicative of the results of operations to be expected for the full year. The interim financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in our 2019 Form 10-K.
Subsequent Events	In preparing these financial statements, subsequent events were evaluated through the time the financial statements were issued. Financial statements are considered issued when they are widely distributed to all shareholders and other financial statement users or filed with the SEC.
Accounting Guidance Adopted in 2020	Accounting Guidance Adopted in 2020 Measurement of Credit Losses on Financial Instruments (ASU 2016-13, ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-11, ASU 2020-02, ASU 2020-03) On January 1, 2020, we adopted ASU 2016-13, Financial Instruments - Credit Losses (ASC 326): Measurement of Credit Losses on Financial Instruments, which replaces the incurred-loss methodology that recognized losses when a probable threshold was met with an expected-loss methodology, specifically, recognizing current expected credit losses (CECL) for the remaining life of the asset at the time of origination or acquisition. The CECL methodology applies to loans, debt securities, and other financial assets and net investment in leases measured at amortized cost. It also applies to off-balance sheet credit exposures (loan commitments, standby letters of credit, financial guarantees, and other similar instruments). Assets in the scope of ASC 326 are presented at the net amount expected to be collected after deducting the allowance for credit losses from the amortized cost basis of the assets. ASC 326 also requires credit losses relating to available-for-sale debt securities that management does not intend to sell or believes that it is more likely than not they will be required to sell to be recorded through an allowance rather than a reduction of the carrying amount. ASC 326 replaces the purchased credit impaired concept of accounting, previously required under Subtopic 310-30, with a purchased financial assets with credit deterioration (PCD) concept. In accordance with ASC 326, we did not reassess whether recognized purchased credit impaired loans met the criteria of a PCD loan and modifications to individual acquired loans accounted for in pools were TDRs as of the date of adoption. At adoption, we elected to not maintain the pools of loans previously accounted for under Subtopic 310-30. The prospective application resulted in a $4 million adjustment to the amortized cost basis of PCD loans to reflect the addition to the allowance for loans and leases as of January 1, 2020. After the adjustment for the allowance for the loans and leases, the noncredit discount of $15 million will be accreted to interest income using the interest method based on the effective interest rate determined after the adjustment from credit losses as of January 1, 2020. The ASU requires use of a modified retrospective approach through a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. Results for reporting periods beginning after January 1, 2020, are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. We posted an adjusting entry decreasing retained earnings as of January 1, 2020, by $230 million , net of deferred taxes of $71 million , for the cumulative effect of adopting ASC 326. The main drivers of the adjustment to retained earnings are summarized in the following table. Pre-ASC 326 Adoption Impact of ASC 326 Adoption As Reported Under ASC 326 in millions December 31, 2019 January 1, 2020 Allowance for credit losses Commercial Commercial and industrial $ 551 $ (141 ) $ 410 Real estate — commercial mortgage 143 16 159 Real estate — construction 22 (7 ) 15 Commercial lease financing 35 8 43 Total commercial loans 751 (124 ) 627 Consumer Real estate — residential mortgage 7 77 84 Home equity loans 31 147 178 Consumer direct loans 34 63 97 Credit cards 47 35 82 Consumer indirect loans 30 6 36 Total consumer loans 149 328 477 Total ALLL — continuing operations 900 204 1,104 Discontinued operations 10 31 41 Total ALLL 910 235 1,145 Accrued expense and other liabilities 75 70 145 Total allowance for credit losses $ 985 $ 305 $ 1,290 In conjunction with the adoption of ASC 326, the following are additional disclosures about our significant accounting policies related to CECL. Allowance for Held-to-Maturity Securities Debt securities that we have the intent and ability to hold until maturity are classified as held-to-maturity and are carried at cost and adjusted for amortization of premiums and accretion of discounts using the interest method. This method produces a constant rate of return on the adjusted carrying amount. Management classifies the held-to-maturity portfolio into the following major security types: agency residential collateralized mortgage obligations, agency residential mortgage-backed securities, agency commercial mortgage-backed securities, asset backed securities, and other. Management measures expected credit losses on held-to-maturity securities on a collective basis by major security type. The estimate of expected losses considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. We do not measure expected credit losses on held-to-maturity securities in which historical credit loss information adjusted for current conditions and reasonable and supportable forecasts results in an expectation that nonpayment of the amortized cost basis is zero. All of our mortgage-backed securities are issued by U.S. government-sponsored enterprises or GNMA, are highly rated by major rating agencies and have a long history of no credit losses. Other securities are comprised of State of Israel bonds denominated and paid in U.S. dollars. Israel bonds have a long history of no credit losses. Additionally, as of June 30, 2020, the State of Israel's credit rating remains "stable" among Fitch, Moody's, and S&P (A+, A1, AA-). Allowance for Available-for-Sale Securities Debt securities that we intend to hold for an indefinite period of time but that may be sold in response to changes in interest rates, prepayment risk, liquidity needs, or other factors are classified as available-for-sale and reported at fair value. Realized gains and losses resulting from sales of securities using the specific identification method are included in “other income” on the income statement. Unrealized gains and losses (net of income taxes) are recorded in equity as a component of AOCI. For available-for-sale securities in an unrealized loss position, we first assess whether we intend to sell, or it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis. If either of these criteria regarding intent or requirement to sell is met, the security's amortized cost basis is written down to fair value in “other income” on the income statement. For debt securities that do not meet the aforementioned criteria, we evaluate whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, nature of the security, the underlying collateral, and the financial condition of the issuer, among other factors. If this assessment indicates a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of the cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for available-for-sale securities is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an allowance for available-for-sale securities is recognized in other comprehensive income. Changes in the allowance for available-for-sale securities are recorded as provision for (or reversal of) credit loss. Losses are charged against the allowance for available-for-sale securities when management believes the uncollectibility of an available-for-sale security is confirmed or when either criteria regarding intent or requirement to sell is met. Loans Accrued interest on loans is included in "other assets" on the balance sheet and is excluded from the calculation of the allowance for credit losses due to our charge-off policy to reverse accrued interest on nonperforming loans against interest income in a timely manner. We have not classified loans that receive a payment deferral or forbearance under a COVID-19 hardship relief program as nonperforming loans and continue to accrue and recognize interest income during the period of the deferral. We, therefore, recognize an allowance for credit losses for accrued interest receivable amounts that result from deferred payments under a COVID-19 hardship relief program because those amounts would not be considered to be written off in a timely manner. As of June 30, 2020, the allowance for credit losses on accrued interest receivable was immaterial. Expected credit losses on net investments in leases, including any unguaranteed residual asset, are included in the ALLL. Purchased Credit Deteriorated (PCD) Loans In addition to originating loans, we also acquire loans through portfolio purchases or acquisitions of other financial services companies. Purchased loans that have evidence of more than insignificant credit deterioration since origination are deemed PCD loans. In accordance with ASC 326, we did not reassess whether recognized purchased credit impaired loans met the criteria of a PCD loan as of the date of adoption. PCD loans are initially recorded at fair value along with an allowance for credit losses determined using the same methodology as originated loans. The sum of the loan's purchase price and allowance for credit losses becomes its initial amortized cost basis. The difference between the initial amortized cost basis and the par value of the loan is a noncredit discount or premium, which is amortized into interest income over the life of the loan. Subsequent changes to the allowance for credit losses are recorded through provision for credit losses. Nonperforming Loans Nonperforming loans are loans for which we do not accrue interest income, and include commercial and consumer loans and leases, as well as current year TDRs and nonaccruing TDR loans from prior years. Nonperforming loans do not include loans held for sale. Once a loan is designated nonaccrual, the interest accrued but not collected is reversed against interest income, and payments subsequently received are applied to principal until qualifying for return to accrual. Allowance for Loan and Lease Losses We estimate the ALLL using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The ALLL is measured on a collective (pool) basis when similar risk characteristics exist. Our portfolio segments include commercial and consumer. Each of these two segments comprises multiple loan classes. Classes are characterized by similarities in initial measurement, risk attributes, and the manner in which we monitor and assess credit risk. The commercial segment is composed of commercial and industrial, commercial real estate, and commercial lease financing loan classes. The consumer lending segment is composed of residential mortgage, home equity, consumer direct, credit card, and consumer indirect loan classes. The ALLL represents our current estimate of lifetime credit losses inherent in our loan portfolio at the balance sheet date. In determining the ALLL, we estimate expected future losses for the loan's entire contractual term adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals, and modifications. The ALLL is the sum of three components: (i) asset specific/ individual loan reserves; (ii) quantitative (formulaic or pooled) reserves; and (iii) qualitative (judgmental) reserves. Asset Specific / Individual Component Loans that do not share risk characteristics are evaluated on an individual basis. Loans evaluated individually are not included in the collective evaluation. We have elected to apply the practical expedient to measure expected credit losses of a collateral dependent asset using the fair value of the collateral, less any costs to sell, when foreclosure is not probable, when repayment of the loan is expected to be provided substantially through the operation or sale of the collateral, and the borrower is experiencing financial difficulty. Individual reserves are determined as follows: • For commercial non-accruing loans greater than or equal to a defined dollar threshold, individual reserves are determined based on an analysis of the present value of the loan's expected future cash flows, the loan's observable market value, or the fair value of the collateral less costs to sell. • For commercial non-accruing loans below the defined dollar threshold, an established LGD percentage is multiplied by the loan balance and the results are aggregated for purposes of measuring specific reserve impairment. • The population of individually assessed consumer loans includes loans deemed collateral dependent, in addition to all TDRs. The expected loss for these loans is estimated based on the present value of the loan's expected future cash flows, except in instances where the loan is collateral dependent, in which case the loan is written down based on the collateral's fair market value less costs to sell. Quantitative Component We use a non-DCF factor-based approach to estimate expected credit losses that include component PD/LGD/EAD models as well as less complex estimation methods for smaller loan portfolios. • PD: This component model is used to estimate the likelihood that a borrower will cease making payments as agreed. The major contributors to this are the borrower credit attributes and macro-economic trends. The objective of the PD model is to produce default likelihood forecasts based on the observed loan-level information and projected paths of macroeconomic variables. • LGD: This component model is used to estimate the loss on a loan once a loan is in default. • EAD: Estimates the loan balance at the time the borrower stops making payments. For all term loans, an amortization based formulaic approach is used for account level EAD estimates. We calculate EAD using a portfolio specific method in each of our revolving product portfolios. For line products that are unconditionally cancellable, the balances will either use a paydown curve or be held flat through the life of the loan. Additional information about the critical estimates and judgments we make in developing these models is provided in the section “Allowance for loan and lease losses” under the heading “Critical Accounting Policies and Estimates” in Item 2 of this report. Qualitative Component The ALLL also includes identified qualitative factors related to idiosyncratic risk factors, changes in current economic conditions that may not be reflected in quantitatively derived results, and other relevant factors to ensure the ALLL reflects our best estimate of current expected credit losses. While our reserve methodologies strive to reflect all relevant risk factors, there continues to be uncertainty associated with, but not limited to, potential imprecision in the estimation process due to the inherent time lag of obtaining information and normal variations between estimates and actual outcomes. We provide additional reserves that are designed to provide coverage for losses attributable to such risks. The ALLL also includes factors that may not be directly measured in the determination of individual or collective reserves. Such qualitative factors may include: • The nature and volume of the institution’s financial assets; • The existence, growth, and effect of any concentrations of credit; • The volume and severity of past due financial assets, the volume of nonaccrual assets, and the volume and severity of adversely classified or graded assets; • The value of the underlying collateral for loans that are not collateral dependent; • The institution’s lending policies and procedures, including changes in underwriting standards and practices for collections, write-offs, and recoveries; • The quality of the institution’s credit review function; • The experience, ability, and depth of the institution’s lending, investment, collection, and other relevant management and staff; • The effect of other external factors such as the regulatory, legal and technological environments; competition; and events such as natural disasters; and • Actual and expected changes in international, national, regional, and local economic and business conditions and developments in which the institution operates that affect the collectability of financial assets. Liability for Credit Losses on Lending-Related Commitments The liability for credit losses on lending-related commitments, such as letters of credit and unfunded loan commitments, is included in “accrued expense and other liabilities” on the balance sheet. Expected credit losses are estimated over the contractual period in which we are exposed to credit risk via a contractual obligation unless that obligation is unconditionally cancellable by us. The liability for credit losses on lending-related commitments is adjusted as a provision for credit losses. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated useful life. Consistent with our estimation process on our loan and lease portfolio, we use a non-DCF factor-based approach to estimate expected credit losses that include component PD/LGD/EAD models as well as less complex estimation methods for smaller portfolios. Allowance for Credit Losses on Other Financial Assets The allowance for credit losses on other financial assets, such as other receivables and servicing advances, is determined based on historical loss information and other available indicators. If such information does not indicate any expected credit losses, Key may estimate the allowance for credit losses on other financial assets to be zero or close to zero. As of June 30, 2020, the allowance for credit losses on other financial assets was immaterial. Simplifying the Test for Goodwill Impairment (ASU 2017-04) On January 1, 2020, we adopted ASU 2017-04. The ASU amends ASC Topic 350, Intangibles - Goodwill and Other and eliminates the second step of the test for goodwill impairment. Goodwill represents the amount by which the cost of net assets acquired in a business combination exceeds their f air value. Goodwill is assigned to reporting units as of the acquisition date based on the expected benefit to such reporting unit from the synergies of the business combination. Goodwill is not amortized. Goodwill is tested at the reporting unit level for impairment, at least annually as of October 1, or when indicators of impairment exist. When indicators of impairment exist we may look to both quantitative and qualitative information to determine whether or not it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount. Factors considered in the assessment include, but are not limited to, macroeconomic conditions, industry and market considerations, stock performance, financial performance of the reporting units, and previous results of goodwill impairment tests. When it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount a quantitative test is required. Under the new accounting guidance, the quantitative analysis requires the estimated fair value of each reporting unit to be compared to its carrying amount, including goodwill. If the estimated fair value of the reporting unit is less than its carrying value, an impairment charge would be recorded for the excess, not to exceed the amount of goodwill allocated to the reporting unit. The adoption of this accounting guidance must be applied prospectively and is not expected to have a material effect on our financial condition or results of operations. Reference Rate Reform (Topic 848) Facilitation of the Effects of Reference Rate Reform on Financial Reporting (ASU 2020-04) We adopted ASU 2020-04 upon issuance. The amendments provide optional expedients and exceptions for certain contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of rate reform. The guidance is effective from the date of issuance until December 31, 2022. The guidance permits Key not to apply modification accounting or remeasure lease payments in lease contracts if the changes to the contract are related to the discontinuation of the reference rate. If certain criteria are met, the amendments also allow exceptions to the dedesignation criteria of the hedging relationship and the assessment of hedge effectiveness during the transition period. It also allows Key to make a one time election to sell, transfer, or both sell and transfer debt securities classified as held to maturity that reference a rate affected by reference rate reform and that are classified as held to maturity before January 1, 2020. This one time election may be made at any time after March 12, 2020, but no later than December 31, 2022. Key has not yet made a determination on whether it will make this election. At the time of adoption, the guidance did not have a significant impact on Key’s financial condition and results of operations. We will continue to assess the impact as the reference rate transition occurs over the next two years.

Basis of Presentation and Acc_3

Basis of Presentation and Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	The main drivers of the adjustment to retained earnings are summarized in the following table. Pre-ASC 326 Adoption Impact of ASC 326 Adoption As Reported Under ASC 326 in millions December 31, 2019 January 1, 2020 Allowance for credit losses Commercial Commercial and industrial $ 551 $ (141 ) $ 410 Real estate — commercial mortgage 143 16 159 Real estate — construction 22 (7 ) 15 Commercial lease financing 35 8 43 Total commercial loans 751 (124 ) 627 Consumer Real estate — residential mortgage 7 77 84 Home equity loans 31 147 178 Consumer direct loans 34 63 97 Credit cards 47 35 82 Consumer indirect loans 30 6 36 Total consumer loans 149 328 477 Total ALLL — continuing operations 900 204 1,104 Discontinued operations 10 31 41 Total ALLL 910 235 1,145 Accrued expense and other liabilities 75 70 145 Total allowance for credit losses $ 985 $ 305 $ 1,290

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Basic and Diluted Earnings Per Common Share	Our basic and diluted earnings per Common Share are calculated as follows: Three months ended June 30, Six months ended June 30, dollars in millions, except per share amounts 2020 2019 2020 2019 EARNINGS Income (loss) from continuing operations $ 185 $ 423 $ 330 $ 829 Less: Net income (loss) attributable to noncontrolling interests — — — — Income (loss) from continuing operations attributable to Key 185 423 330 829 Less: Dividends on Preferred Stock 26 20 53 40 Income (loss) from continuing operations attributable to Key common shareholders 159 403 277 789 Income (loss) from discontinued operations, net of taxes 2 2 3 3 Net income (loss) attributable to Key common shareholders $ 161 $ 405 $ 280 $ 792 WEIGHTED-AVERAGE COMMON SHARES Weighted-average Common Shares outstanding (000) 967,147 999,163 967,380 1,003,047 Effect of Common Share options and other stock awards 4,994 8,801 6,892 9,318 Weighted-average Common Shares and potential Common Shares outstanding (000) (a) 972,141 1,007,964 974,272 1,012,365 EARNINGS PER COMMON SHARE Income (loss) from continuing operations attributable to Key common shareholders $ .16 $ .40 $ .29 $ .79 Income (loss) from discontinued operations, net of taxes — — — — Net income (loss) attributable to Key common shareholders (b) .17 .40 .29 .79 Income (loss) from continuing operations attributable to Key common shareholders — assuming dilution $ .16 $ .40 $ .28 $ .78 Income (loss) from discontinued operations, net of taxes — assuming dilution — — — — Net income (loss) attributable to Key common shareholders — assuming dilution (b) .17 .40 .29 .78 (a) Assumes conversion of Common Share options and other stock awards and/or convertible preferred stock, as applicable. (b) EPS may not foot due to rounding.

Loan Portfolio (Tables)

Loan Portfolio (Tables)	6 Months Ended
	Jun. 30, 2020
Loans Receivables [Abstract]
Loans by Category	in millions June 30, 2020 December 31, 2019 Commercial and industrial (b) $ 58,297 $ 48,295 Commercial real estate: Commercial mortgage 13,465 13,491 Construction 1,919 1,558 Total commercial real estate loans 15,384 15,049 Commercial lease financing (c) 4,524 4,688 Total commercial loans 78,205 68,032 Residential — prime loans: Real estate — residential mortgage 8,149 7,023 Home equity loans 9,782 10,274 Total residential — prime loans 17,931 17,297 Consumer direct loans 4,327 3,513 Credit cards 974 1,130 Consumer indirect loans 4,722 4,674 Total consumer loans 27,954 26,614 Total loans (d) $ 106,159 $ 94,646 (a) Accrued interest of $225 million and $244 million at June 30, 2020 , and December 31, 2019 , respectively, presented in "other assets" on the Consolidated Balance Sheets is excluded from the amortized cost basis disclosed in this table. (b) Loan balances include $132 million and $144 million of commercial credit card balances at June 30, 2020 , and December 31, 2019 , respectively. (c) Commercial lease financing includes receivables held as collateral for a secured borrowing of $18 million and $15 million at June 30, 2020 , and December 31, 2019 , respectively. Principal reductions are based on the cash payments received from these related receivables. Additional information pertaining to this secured borrowing is included in Note 20 (“ Long-Term Debt ”) beginning on page 163 of our 2019 Form 10-K. (d) Total loans exclude loans of $780 million at June 30, 2020 , and $865 million at December 31, 2019 , related to the discontinued operations of the education lending business.

Asset Quality (Tables)

Asset Quality (Tables)	6 Months Ended
	Jun. 30, 2020
Credit Loss [Abstract]
Financing Receivable, Allowance for Credit Loss	The changes in the ALLL by loan category for the periods indicated are as follows: Three months ended June 30, 2020 : in millions March 31, 2020 Provision Charge-offs Recoveries June 30, 2020 Commercial and Industrial $ 542 $ 249 $ (71 ) $ 5 $ 725 Commercial real estate: Real estate — commercial mortgage 207 87 (2 ) — 292 Real estate — construction 25 16 — — 41 Total commercial real estate loans 232 103 (2 ) — 333 Commercial lease financing 44 14 (4 ) 1 55 Total commercial loans 818 366 (77 ) 6 1,113 Real estate — residential mortgage 89 14 (2 ) — 101 Home equity loans 184 14 (2 ) 1 197 Consumer direct loans 116 22 (10 ) 2 130 Credit cards 104 13 (12 ) 2 107 Consumer indirect loans 48 16 (7 ) 3 60 Total consumer loans 541 79 (33 ) 8 595 Total ALLL — continuing operations 1,359 445 (a) (110 ) 14 1,708 Discontinued operations 43 — (2 ) 2 43 Total ALLL — including discontinued operations $ 1,402 $ 445 $ (112 ) $ 16 $ 1,751 (a) Excludes a provision for losses on lending-related commitments of $37 million . Three months ended June 30, 2019 : in millions March 31, 2019 Provision Charge-offs Recoveries June 30, 2019 Commercial and Industrial $ 530 $ 43 $ (30 ) $ 6 $ 549 Commercial real estate: Real estate — commercial mortgage 144 (5 ) (1 ) 1 139 Real estate — construction 28 (4 ) — — 24 Total commercial real estate loans 172 (9 ) (1 ) 1 163 Commercial lease financing 35 14 (16 ) 2 35 Total commercial loans 737 48 (47 ) 9 747 Real estate — residential mortgage 8 — (1 ) — 7 Home equity loans 36 4 (6 ) 2 36 Consumer direct loans 33 7 (10 ) 2 32 Credit cards 47 7 (12 ) 2 44 Consumer indirect loans 22 6 (8 ) 4 24 Total consumer loans 146 24 (37 ) 10 143 Total ALLL — continuing operations 883 72 (a) (84 ) 19 890 Discontinued operations 13 2 (4 ) 1 12 Total ALLL — including discontinued operations $ 896 $ 74 $ (88 ) $ 20 $ 902 (a) Excludes a provision for losses on lending-related commitments of $2 million . Six months ended June 30, 2020 : in millions December 31, 2019 Impact of ASC 326 Adoption January 1, 2020 Provision Charge-offs Recoveries June 30, 2020 Commercial and Industrial $ 551 $ (141 ) $ 410 $ 436 $ (131 ) $ 10 $ 725 Commercial real estate: Real estate — commercial mortgage 143 16 159 137 (5 ) 1 292 Real estate — construction 22 (7 ) 15 26 — — 41 Total commercial real estate loans 165 9 174 163 (5 ) 1 333 Commercial lease financing 35 8 43 17 (6 ) 1 55 Total commercial loans 751 (124 ) 627 616 (142 ) 12 1,113 Real estate — residential mortgage 7 77 84 19 (2 ) — 101 Home equity loans 31 147 178 22 (6 ) 3 197 Consumer direct loans 34 63 97 51 (22 ) 4 130 Credit cards 47 35 82 44 (23 ) 4 107 Consumer indirect loans 30 6 36 32 (16 ) 8 60 Total consumer loans 149 328 477 168 (69 ) 19 595 Total ALLL — continuing operations 900 204 1,104 784 (a) (211 ) 31 1,708 Discontinued operations 10 31 41 3 (4 ) 3 43 Total ALLL — including discontinued operations $ 910 $ 235 $ 1,145 $ 787 $ (215 ) $ 34 $ 1,751 (a) Excludes a provision for losses on lending-related commitments of $57 million . Six months ended June 30, 2019 : in millions December 31, 2018 Provision Charge-offs Recoveries June 30, 2019 Commercial and Industrial $ 532 $ 67 $ (131 ) $ 10 $ 549 Commercial real estate: Real estate — commercial mortgage 142 1 (5 ) 1 139 Real estate — construction 33 (5 ) — — 24 Total commercial real estate loans 175 (4 ) (5 ) 1 163 Commercial lease financing 36 20 (6 ) 1 35 Total commercial loans 743 83 (142 ) 12 747 Real estate — residential mortgage 7 1 (2 ) — 7 Home equity loans 35 7 (6 ) 3 36 Consumer direct loans 30 19 (22 ) 4 32 Credit cards 48 15 (23 ) 4 44 Consumer indirect loans 20 11 (16 ) 8 24 Total consumer loans 140 53 (69 ) 19 143 Total ALLL — continuing operations 883 136 (211 ) 31 890 Discontinued operations 14 4 (4 ) 3 12 Total ALLL — including discontinued operations $ 897 $ 140 $ (215 ) $ 34 $ 902
Significant Macroeconomic Variables of Loan Portfolios	The following table discloses key macroeconomic variables for each loan portfolio. Segment Portfolio Key Macroeconomic Variables (a) Commercial Commercial and industrial BBB corporate bond rate (spread), GDP, industrial production, and unemployment rate Commercial real estate BBB corporate bond rate (spread), property and real estate price indices, and unemployment rate Commercial lease financing BBB corporate bond rate (spread), GDP, and unemployment rate Consumer Real estate — residential mortgage GDP, home price index, unemployment rate, and 30 year mortgage rate Home equity Home price index, unemployment rate, and 30 year mortgage rate Consumer direct Unemployment rate and U.S. household income Consumer indirect New vehicle sales and unemployment rate Credit cards Unemployment rate and U.S. household income Discontinued operations Unemployment rate
Financing Receivable Credit Quality Indicators	Credit Risk Profile by Creditworthiness Category and Vintage (a) As of June 30, 2020 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year and Internal Risk Rating in millions 2020 2019 2018 2017 2016 Prior Total Commercial and Industrial Risk Rating: Pass $ 12,011 $ 6,386 $ 5,004 $ 3,290 $ 2,393 $ 3,996 $ 22,395 $ 141 $ 55,616 Criticized (Accruing) 24 60 164 164 70 169 1,608 18 2,277 Criticized (Nonaccruing) 3 12 28 31 38 58 234 — 404 Total commercial and industrial 12,038 6,458 5,196 3,485 2,501 4,223 24,237 159 58,297 Real estate — commercial mortgage Risk Rating: Pass 1,087 3,303 1,955 1,040 963 3,600 1,039 37 13,024 Criticized (Accruing) — 8 29 65 34 193 16 5 350 Criticized (Nonaccruing) — — 1 3 4 78 4 1 91 Total real estate — commercial mortgage 1,087 3,311 1,985 1,108 1,001 3,871 1,059 43 13,465 Real estate — construction Risk Rating: Pass 205 603 721 239 68 21 18 3 1,878 Criticized (Accruing) — 4 8 — 24 3 1 — 40 Criticized (Nonaccruing) — — — — 1 — — 1 Total real estate — construction 205 607 729 239 92 25 19 3 1,919 Commercial lease financing Risk Rating: Pass 503 1,275 702 640 307 1,030 — — 4,457 Criticized (Accruing) 6 8 12 11 10 11 — — 58 Criticized (Nonaccruing) — — 2 3 4 — — — 9 Total commercial lease financing 509 1,283 716 654 321 1,041 — 4,524 Total commercial loans $ 13,839 $ 11,659 $ 8,626 $ 5,486 $ 3,915 $ 9,160 $ 25,315 $ 205 $ 78,205 (a) Accrued interest of $121 million , presented in Other Assets on the Consolidated Balance Sheets, was excluded from the amortized cost basis disclosed in this table. Consumer Credit Exposure Credit Risk Profile by FICO Score and Vintage (a) As of June 30, 2020 Term Loans Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Amortized Cost Basis by Origination Year and FICO Score in millions 2020 2019 2018 2017 2016 Prior Total Real estate — residential mortgage FICO Score: 750 and above $ 1,681 $ 1,878 $ 294 $ 320 $ 648 $ 1,523 — — $ 6,344 660 to 749 348 398 96 67 115 402 — — 1,426 Less than 660 17 30 24 12 32 193 — — 308 No Score — 2 3 7 2 57 — — 71 Total real estate — residential mortgage 2,046 2,308 417 406 797 2,175 — — 8,149 Home equity loans FICO Score: 750 and above 386 450 190 217 206 901 $ 2,809 $ 406 5,565 660 to 749 176 275 125 129 106 428 1,760 196 3,195 Less than 660 19 54 32 32 37 164 604 65 1,007 No Score 2 2 1 — — 3 5 2 15 Total home equity loans 583 781 348 378 349 1,496 5,178 669 9,782 Consumer direct loans FICO Score: 750 and above 1,113 1,214 146 44 24 69 127 — 2,737 660 to 749 274 351 101 32 18 39 270 — 1,085 Less than 660 10 43 28 11 7 13 98 — 210 No Score 23 49 26 17 9 13 158 — 295 Total consumer direct loans 1,420 1,657 301 104 58 134 653 — 4,327 Credit cards FICO Score: 750 and above — — — — — — 450 — 450 660 to 749 — — — — — — 416 — 416 Less than 660 — — — — — — 107 — 107 No Score — — — — — — 1 — 1 Total credit cards — — — — — — 974 — 974 Consumer indirect loans FICO Score: 750 and above 557 1,056 457 254 107 97 — — 2,528 660 to 749 336 717 303 137 57 73 — — 1,623 Less than 660 69 208 129 74 37 39 — — 556 No Score 15 — — — — — — — 15 Total consumer indirect loans 977 1,981 889 465 201 209 — — 4,722 Total consumer loans $ 5,026 $ 6,727 $ 1,955 $ 1,353 $ 1,405 $ 4,014 $ 6,805 $ 669 $ 27,954 (a) Accrued interest of $104 million , presented in Other Assets on the Consolidated Balance Sheets, was excluded from the amortized cost basis disclosed in this table.
Past Due Loans Including Current Loans	The following aging analysis of past due and current loans as of June 30, 2020 , and December 31, 2019 , provides further information regarding Key’s credit exposure. Aging Analysis of Loan Portfolio (a) June 30, 2020 Current 30-59 Days Past Due (b) 60-89 Days Past Due (b) 90 and Greater Days Past Due (b) Non-performing Loans (c) Total Past Due and Non-performing Loans (c) Total Loans (d) in millions LOAN TYPE Commercial and industrial $ 57,659 $ 116 $ 71 $ 47 $ 404 $ 638 $ 58,297 Commercial real estate: Commercial mortgage 13,269 52 41 12 91 196 13,465 Construction 1,916 — — 2 1 3 1,919 Total commercial real estate loans 15,185 52 41 14 92 199 15,384 Commercial lease financing 4,472 40 — 3 9 52 4,524 Total commercial loans $ 77,316 $ 208 $ 112 $ 64 $ 505 $ 889 $ 78,205 Real estate — residential mortgage $ 8,039 $ 16 $ 5 $ — $ 89 $ 110 $ 8,149 Home equity loans 9,592 31 12 6 141 190 9,782 Consumer direct loans 4,306 9 4 5 3 21 4,327 Credit cards 957 3 3 9 2 17 974 Consumer indirect loans 4,683 13 3 3 20 39 4,722 Total consumer loans $ 27,577 $ 72 $ 27 $ 23 $ 255 $ 377 $ 27,954 Total loans $ 104,893 $ 280 $ 139 $ 87 $ 760 $ 1,266 $ 106,159 (a) Amounts in table represent amortized cost and exclude loans held for sale. (b) Accrued interest of $225 million presented in “other assets” on the Consolidated Balance Sheets is excluded from the amortized cost basis disclosed in this table. (c) PCI loans meeting nonperforming criteria were historically excluded from Key's nonperforming disclosures. As a result of CECL implementation on January 1, 2020, PCI loans became PCD loans. PCD loans that met the definition of nonperforming are now included in nonperforming disclosures. (d) Net of unearned income, net of deferred fees and costs, and unamortized discounts and premiums. December 31, 2019 Current 30-59 Days Past Due (b) 60-89 Days Past Due (b) 90 and Greater Days Past Due (b) Non-performing Loans Total Past Due and Non-performing Loans Purchased Credit Impaired Total Loans in millions LOAN TYPE Commercial and industrial $ 47,768 $ 110 $ 52 $ 53 $ 264 $ 479 48 $ 48,295 Commercial real estate: Commercial mortgage 13,258 8 5 13 83 109 124 13,491 Construction 1,551 3 — 1 2 6 1 1,558 Total commercial real estate loans 14,809 11 5 14 85 115 125 15,049 Commercial lease financing 4,647 22 11 2 6 41 — 4,688 Total commercial loans $ 67,224 $ 143 $ 68 $ 69 $ 355 $ 635 173 $ 68,032 Real estate — residential mortgage $ 6,705 $ 7 $ 5 $ 1 $ 48 $ 61 $ 257 $ 7,023 Home equity loans 10,071 30 10 5 145 190 13 10,274 Consumer direct loans 3,484 10 5 7 4 26 3 3,513 Credit cards 1,104 6 5 12 3 26 — 1,130 Consumer indirect loans 4,609 32 8 3 22 65 — 4,674 Total consumer loans $ 25,973 $ 85 $ 33 $ 28 $ 222 $ 368 $ 273 $ 26,614 Total loans $ 93,197 $ 228 $ 101 $ 97 $ 577 $ 1,003 $ 446 $ 94,646 (a) Amounts in table represent recorded investment and exclude loans held for sale. Recorded investment represents the principal amount of the loan increased or decreased by net deferred loan fees and costs, and unamortized premium or discount, and reflects direct charge-offs. (b) Past due loan amounts exclude PCI, even if contractually past due (or if we do not expect to collect principal or interest in full based on the original contractual terms), as we are currently accreting income over the remaining term of the loans.
Post-Modification Outstanding Recorded Investment by Concession Type for Our Commercial Accruing and Nonaccruing TDRs	The following table shows the post-modification outstanding recorded investment by concession type for our commercial and consumer accruing and nonaccruing TDRs that occurred during the periods indicated: Three Months Ended June 30, Six Months Ended June 30, in millions 2020 2019 2020 2019 Commercial loans: Extension of Maturity Date 8 $ 6 $ 8 $ 6 Payment or Covenant Modification/Deferment — 18 — 18 Bankruptcy Plan Modification — 11 — 11 Increase in new commitment or new money 4 — 4 — Total 12 $ 35 $ 12 $ 35 Consumer loans: Interest rate reduction $ 1 $ 4 $ 9 $ 8 Other 5 9 13 16 Total $ 6 $ 13 $ 22 $ 24 Total TDRs $ 18 $ 48 $ 34 $ 59
Summary Of Post-Modification Outstanding Recorded Investment, Accruing And Nonaccruing TDRs	The following table summarizes the change in the post-modification outstanding recorded investment of our accruing and nonaccruing TDRs during the periods indicated: Three Months Ended June 30, Six Months Ended June 30, in millions 2020 2019 2020 2019 Balance at beginning of the period $ 340 $ 365 $ 347 $ 399 Additions 22 54 39 68 Payments (35 ) (19 ) (53 ) (58 ) Charge-offs (17 ) (5 ) (23 ) (14 ) Balance at end of period $ 310 $ 395 $ 310 $ 395
Breakdown of Nonperforming TDRs by Loans Category	A further breakdown of TDRs included in nonperforming loans by loan category for the periods indicated are as follows: June 30, 2020 December 31, 2019 Number of Loans Pre-modification Outstanding Recorded Investment Post-modification Outstanding Recorded Investment Number of Loans Pre-modification Outstanding Recorded Investment Post-modification Outstanding Recorded Investment dollars in millions LOAN TYPE Nonperforming: Commercial and industrial 50 $ 57 $ 43 51 $ 72 $ 53 Commercial real estate: Commercial mortgage 8 65 58 6 64 58 Total commercial real estate loans 8 65 58 6 64 58 Total commercial loans 58 122 101 57 136 111 Real estate — residential mortgage 191 16 14 181 13 11 Home equity loans 574 36 34 713 42 41 Consumer direct loans 134 2 2 172 2 2 Credit cards 290 2 2 368 2 2 Consumer indirect loans 939 16 13 1,131 19 16 Total consumer loans 2,128 72 65 2,565 78 72 Total nonperforming TDRs 2,186 194 166 2,622 214 183 Prior-year accruing: (a) Commercial and industrial 3 2 — 6 30 25 Commercial real estate Commercial mortgage 1 — — 1 — — Total commercial real estate loans 1 — — 1 — — Total commercial loans 4 2 — 7 30 25 Real estate — residential mortgage 487 36 30 493 37 31 Home equity loans 1,872 111 91 1,751 104 84 Consumer direct loans 183 4 3 139 4 3 Credit cards 602 4 2 486 3 1 Consumer indirect loans 820 31 18 714 33 20 Total consumer loans 3,964 186 144 3,583 181 139 Total prior-year accruing TDRs 3,968 188 144 3,590 211 164 Total TDRs 6,154 $ 382 $ 310 6,212 $ 425 $ 347 (a) All TDRs that were restructured prior to January 1, 2020 , and January 1, 2019 , and are fully accruing.
Changes in Liability for Credit Losses on Off-Balance Sheet Exposures	Changes in the liability for credit losses on off balance sheet exposures are summarized as follows: Three months ended June 30, Six months ended June 30, in millions 2020 2019 2020 2019 Balance at the end of the prior period $ 161 $ 62 $ 68 $ 64 Liability for credit losses on contingent guarantees at the end of the prior period — — 7 — Cumulative effect from change in accounting principle (a), (b) — — 66 — Balance at beginning of period 161 62 141 64 Provision (credit) for losses on off balance sheet exposures 37 2 57 — Balance at end of period $ 198 $ 64 $ 198 $ 64 (a) The cumulative effect from change in accounting principle relates to the January 1, 2020, adoption of ASU 2016-13. (b) Excludes $4 million related to the provision for other financial assets.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities Measured on Recurring Basis	The following tables present these assets and liabilities at June 30, 2020 , and December 31, 2019 . June 30, 2020 December 31, 2019 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total in millions ASSETS MEASURED ON A RECURRING BASIS Trading account assets: U.S. Treasury, agencies and corporations — $ 531 — $ 531 — $ 843 — $ 843 States and political subdivisions — 40 — 40 — 30 — 30 Other mortgage-backed securities — 16 $ 36 52 — 78 — 78 Other securities — 13 — 13 — 44 — 44 Total trading account securities — 600 36 636 — 995 — 995 Commercial loans — 9 — 9 — 45 — 45 Total trading account assets — 609 36 645 — 1,040 — 1,040 Securities available for sale: U.S. Treasury, agencies and corporations — 3,465 — 3,465 — 334 — 334 States and political subdivisions — 4 — 4 — 4 — 4 Agency residential collateralized mortgage obligations — 11,947 — 11,947 — 12,783 — 12,783 Agency residential mortgage-backed securities — 1,445 — 1,445 — 1,714 — 1,714 Agency commercial mortgage-backed securities — 6,727 — 6,727 — 6,997 — 6,997 Other securities — — 12 12 — — $ 11 11 Total securities available for sale — 23,588 12 23,600 — 21,832 11 21,843 Other investments: Principal investments: Direct — — 1 1 — — 1 1 Indirect (measured at NAV) (a) — — — 56 — — — 68 Total principal investments — — 1 57 — — 1 69 Equity investments: Direct — — 12 12 — — 12 12 Direct (measured at NAV) (a) — — — 1 — — — 1 Indirect (measured at NAV) (a) — — — 8 — — — 8 Total equity investments — — 12 21 — — 12 21 Total other investments — — 13 78 — — 13 90 Loans, net of unearned income (residential) — — 5 5 — — 4 4 Loans held for sale (residential) — 250 — 250 — 140 — 140 Derivative assets: Interest rate — 1,968 52 2,020 — 941 22 963 Foreign exchange $ 79 29 — 108 $ 49 18 — 67 Commodity — 487 — 487 — 208 — 208 Credit — 1 3 4 — — 1 1 Other — 37 46 83 — 9 5 14 Derivative assets 79 2,522 101 2,702 49 1,176 28 1,253 Netting adjustments (b) — — — (609 ) — — — (473 ) Total derivative assets 79 2,522 101 2,093 49 1,176 28 780 Accrued income and other assets — — — — — — — — Total assets on a recurring basis at fair value $ 79 $ 26,969 $ 167 $ 26,671 $ 49 $ 24,188 $ 56 $ 23,897 LIABILITIES MEASURED ON A RECURRING BASIS Bank notes and other short-term borrowings: Short positions $ 285 $ 430 — $ 715 $ 19 $ 686 — $ 705 Derivative liabilities: Interest rate — 337 — 337 — 253 — 253 Foreign exchange 69 28 — 97 43 17 — 60 Commodity — 462 — 462 — 200 — 200 Credit — — $ 20 20 — 1 $ 9 10 Other — 23 — 23 — 10 — 10 Derivative liabilities 69 850 20 939 43 481 9 533 Netting adjustments (b) — — — (629 ) — — — (335 ) Total derivative liabilities 69 850 20 310 43 481 9 198 Total liabilities on a recurring basis at fair value $ 354 $ 1,280 $ 20 $ 1,025 $ 62 $ 1,167 $ 9 $ 903 (a) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet. (b) Netting adjustments represent the amounts recorded to convert our derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The net basis takes into account the impact of bilateral collateral and master netting agreements that allow us to settle all derivative contracts with a single counterparty on a net basis and to offset the net derivative position with the related cash collateral. Total derivative assets and liabilities include these netting adjustments.
Fair Value Measurement Inputs and Valuation Techniques	Asset/liability class Valuation technique Valuation hierarchy classification(s) Other direct equity investments Fair value is determined using: • Discounted cash flows • Operating performance and market/exit multiples of comparable businesses • Other unique facts and circumstances related to each individual investment For Level 3 securities, increases (decreases) in the discount rate and marketability discount used in the discounted cash flow models would have resulted in lower (higher) fair value measurements. Higher volatility factors would have further magnified changes in fair value. Level 2 investments reflect the price of recent investments, which is deemed representative of fair value. Level 2 and 3 Other direct and indirect equity investments (NAV) Certain direct investments do not have readily determinable fair values and qualify for the practical expedient in the accounting guidance that allows us to estimate fair value based upon net asset value per share. NAV Loans held for sale and held for investment (residential) Residential mortgage loans held for sale are accounted for at fair value. The election of the fair value option aligns the accounting for these assets with the related forward loan sale commitments. Fair values are based on: • Quoted market prices, where available • Prices for other traded mortgage loans with similar characteristics • Purchase commitments and bid information received from market participants Prices are adjusted as necessary to include: • The embedded servicing value in the loans • The specific characteristics of certain loans that are priced based on the pricing of similar loans. (These adjustments represent unobservable inputs to the valuation but are not considered significant given the relative insensitivity of the value to changes in these inputs to the fair value of the loans.) Residential loans held for investment: Certain residential loans held for sale contain salability exceptions that make them unable to be sold into the performing loan sales market. Loans in this category are transferred to the held to maturity loan portfolio and are included in “Loans, net of unearned income” on the balance sheet. This type of loan is classified as Level 3 in the valuation hierarchy as transaction details regarding sales of this type of loan are often unavailable. Fair value is based upon: • Unobservable bid information from brokers and investors Higher (lower) unobservable bid information would have resulted in higher (lower) fair value measurements. Level 1, 2 and 3 (primarily Level 2) Asset/liability class Valuation technique Valuation hierarchy classification(s) Derivatives Exchange-traded derivatives are valued using quoted prices in active markets and, therefore, are classified as Level 1 instruments. The majority of our derivative positions are Level 2 and are valued using internally developed models based on market convention and observable market inputs. These derivative contracts include interest rate swaps, certain options, floors, cross currency swaps, credit default swaps, and forward mortgage loan sale commitments. Significant inputs used in the valuation models include: • LIBOR and OIS curves, index pricing curves, foreign currency curves • Volatility surfaces (a three-dimensional graph of implied volatility against strike price and maturity) We have customized derivative instruments and risk participations that are classified as Level 3 instruments. These derivative positions are valued using internally developed models, with inputs consisting of available market data, including: • Credit spreads and interest rates The unobservable internally derived assumptions include: • Loss given default • Internal risk assessments of customers The fair value represents an estimate of the amount that the risk participation counterparty would need to pay/receive as of the measurement date based on the probability of customer default on the swap transaction and the fair value of the underlying customer swap. Therefore, for sold risk participation agreements, a higher loss probability and a lower credit rating would negatively affect the fair value of the risk participations and a lower loss probability and higher credit rating would positively affect the fair value of the risk participations. (For purchased risk participation agreements, higher loss probabilities and lower credit ratings would positively affect the fair value.) We use interest rate lock commitments for our residential mortgage business, which are classified as Level 3 instruments. The significant components of the valuation model include: • Interest rates observable in the market • Investor supplied prices for similar securities • The probability of the loan closing (i.e. the "pull-through" amount, a significant unobservable input). Increases (decreases) in the probability of the loan closing would have resulted in higher (lower) fair value measurements. Valuation of residential mortgage forward sale commitments utilizes observable market prices of comparable commitments and mortgage securities (Level 2). Level 1, 2, and 3 (primarily Level 2) Liability for short positions This includes fixed income securities held by our broker dealer in its trading inventory. Fair value of Level 1 securities is determined by: • Quoted market prices available in an active market for identical securities Fair value of Level 2 securities is determined by: • Observable market prices of similar securities • Market activity, spreads, credit ratings and interest rates for each security type Level 1 and 2 The following table describes the valuation techniques and significant inputs used to measure the significant classes of assets and liabilities reported at fair value on a nonrecurring basis, as well as the classification of each within the valuation hierarchy. Asset/liability class Valuation technique Valuation hierarchy classification(s) Collateral-dependent loans When a loan is collateral-dependent, the fair value of the loan is determined based on the fair value of the underlying collateral. Level 3 Commercial loans and student loans held for sale Through a quarterly analysis of our loan portfolios held for sale, which include both performing and nonperforming commercial loans and student loans, we determine any adjustments necessary to record the portfolios at the lower of cost or fair value in accordance with GAAP. Valuation inputs include: • Non-binding bids for the respective loans or similar loans • Recent sales transactions • Internal models that emulate recent securitizations Level 2 and 3 Direct financing leases and operating lease assets held for sale Valuations of direct financing leases and operating lease assets held for sale are performed using an internal model that relies on market data, including: • Swap rates and bond ratings • Our own assumptions about the exit market for the leases • Details about the individual leases in the portfolio Leases for which we receive a current nonbinding bid, and for which the sale is considered probable, may be classified as Level 2. Valuations of lease and operating lease assets held for sale that employ our own assumptions are classified as Level 3 assets. The inputs based on our own assumptions include changes in the value of leased items and internal credit ratings. Level 2 and 3 OREO, other repossessed personal property, and right-of-use assets (a) OREO, other repossessed properties, and right-of-use assets are valued based on: • Appraisals and third-party price opinions, less estimated selling costs Generally, we classify these assets as Level 3, but OREO and other repossessed properties for which we receive binding purchase agreements are classified as Level 2. Returned lease inventory is valued based on market data for similar assets and is classified as Level 2. Level 2 and 3 Asset/liability class Valuation technique Valuation hierarchy classification(s) LIHTC, HTC, and NMTC investments (a) Valuation of LIHTC, HTC and NMTC involves measuring the present value of future tax benefits and comparing that value against the current carrying value of the investment. Expected future tax benefits are discounted to their present value using discounted cash flow modeling that incorporates an appropriate risk premium. LIHTC and HTC investments are impaired when it is more likely than not that the carrying amount of the investment will not be realized. Level 3 Other equity investments We have other investments in equity securities that do not have readily determinable fair values and do not qualify for the practical expedient to measure the investment using a net asset value per share. We have elected to measure these securities at cost less impairment plus or minus adjustments due to observable orderly transactions. Impairment is recorded when there is evidence that the expected fair value of the investment has declined to below the recorded cost. At each reporting period, we assess if these investments continue to qualify for this measurement alternative. Level 3 Mortgage Servicing Assets ( a) Refer to Note 8. Mortgage Servicing Assets Level 3 (a) Asset classes included in “Accrued income and other assets” on the Consolidated Balance Sheets The following table describes the valuation techniques and significant inputs used to measure the classes of assets and liabilities reported at fair value on a recurring basis, as well as the classification of each within the valuation hierarchy. Asset/liability class Valuation technique Valuation hierarchy classification(s) Securities (trading account assets and available for sale) Fair value of Level 1 securities is determined by: • Quoted market prices available in an active market for identical securities. This includes exchange-traded equity securities. Fair value of Level 2 securities is determined by: • Pricing models (either by a third party pricing service or internally). Inputs include: yields, benchmark securities, bids, offers, actual trade data (i.e., spreads, credit ratings, and interest rates) for comparable assets, spread tables, matrices, high-grade scales, and option-adjusted spreads. • Observable market prices of similar securities. Fair value of Level 3 securities is determined by: • Internally developed valuation techniques, principally discounted cash flow methods (income approach). • Revenue multiples of comparable public companies (market approach). For Level 3 securities, increases (decreases) in the discount rate and marketability discount used in the discounted cash flow models would have resulted in lower (higher) fair value measurements. Higher volatility factors would have further magnified changes in fair value. The valuations provided by the third-party pricing service are based on observable market inputs, which include benchmark yields, reported trades, issuer spreads, benchmark securities, bids, offers, and reference data obtained from market research publications. Inputs used by the third-party pricing service in valuing CMOs and other mortgage-backed securities also include new issue data, monthly payment information, whole loan collateral performance, and “To Be Announced” prices. In valuations of securities issued by state and political subdivisions, inputs used by the third-party pricing service also include material event notices. Level 1, 2, and 3 (primarily Level 2) Commercial loans (trading account assets) Fair value is based on: • Observable market price spreads for similar loans. Valuations reflect prices within the bid-ask spread that are most representative of fair value. Level 2 Principal investments (direct) Direct principal investments consist of equity and debt instruments of private companies made by our principal investing entities. Fair value is determined using: • Operating performance and market multiples of comparable businesses • Other unique facts and circumstances related to each individual investment Direct principal investments are accounted for as investment companies in accordance with the applicable accounting guidance, whereby each investment is adjusted to fair value with any net realized or unrealized gain/loss recorded in the current period’s earnings. We are in the process of winding down our direct principal investment portfolio. As of June 30, 2020, the balance is less than $1 million. Level 3 Principal investments (indirect) Indirect principal investments include primary and secondary investments in private equity funds engaged mainly in venture- and growth-oriented investing. These investments do not have readily determinable fair values and qualify for the practical expedient to estimate fair value based upon net asset value per share (or its equivalent, such as member units or an ownership interest in partners’ capital to which a proportionate share of net assets is attributed). Indirect principal investments are also accounted for as investment companies, whereby each investment is adjusted to fair value with any net realized or unrealized gain/loss recorded in the current period’s earnings. Under the provisions of the Volcker Rule, we are required to dispose or conform our indirect investments to the requirements of the statute by no later than July 21, 2022. As of June 30, 2020, we have not committed to a plan to sell these investments. Therefore, these investments continue to be valued using the net asset value per share methodology. NAV
Fair Value of Direct and Indirect Investments, Related Unfunded Commitments and Financial Support Provided	The following table presents the fair value of our direct and indirect principal investments and related unfunded commitments at June 30, 2020 , as well as financial support provided for the three and six months ended June 30, 2020 , and June 30, 2019 . Financial support provided Three months ended June 30, Six months ended June 30, June 30, 2020 2020 2019 2020 2019 in millions Fair Value Unfunded Commitments Funded Commitments Funded Other Funded Commitments Funded Other Funded Commitments Funded Other Funded Commitments Funded Other INVESTMENT TYPE Direct investments $ 1 — — $ — — — — — — — Indirect investments (measured at NAV) (a) 56 $ 18 $ — — — — $ — — $ 2 — Total $ 57 $ 18 — $ — — — $ — — $ 2 — (a) Our indirect investments consist of buyout funds, venture capital funds, and fund of funds. These investments are generally not redeemable. Instead, distributions are received through the liquidation of the underlying investments of the fund. An investment in any one of these funds typically can be sold only with the approval of the fund’s general partners. At June 30, 2020 , no significant liquidation of the underlying investments has been communicated to Key. The purpose of funding our capital commitments to these investments is to allow the funds to make additional follow-on investments and pay fund expenses until the fund dissolves. We, and all other investors in the fund, are obligated to fund the full amount of our respective capital commitments to the fund based on our and their respective ownership percentages, as noted in the applicable Limited Partnership Agreement.
Change in Fair Values of Level 3 Financial Instruments	The following table shows the components of the change in the fair values of our Level 3 financial instruments measured at fair value on a recurring basis for the three and six months ended June 30, 2020 , and June 30, 2019 . in millions Beginning of Period Balance Gains (Losses) Included in Other Comprehensive Income Gains (Losses) Included in Earnings Purchases Sales Settlements Transfers Other Transfers into Level 3 Transfers out of Level 3 End of Period Balance Unrealized Gains (Losses) Included in Earnings Six months ended June 30, 2020 Trading account assets Other mortgage-backed securities — — — — — — — $ 36 (d) — $ 36 — Securities available for sale Other securities $ 11 $ 1 — — — — — — — 12 — Other investments Principal investments Direct 1 — — — — — — — — 1 — Equity investments Direct 12 — — — — — — $ — — 12 — Loans held for sale (residential) — — — — $ (10 ) — $ 10 — — — — Loans, net of unearned income (residential) 4 — — — (1 ) — 2 — — 5 — Derivative instruments (b) Interest rate 22 — $ 22 (c) $ 11 (1 ) — — 62 (d) $ (64 ) (d) 52 — Credit (8 ) — (10 ) (c) 1 — — — — — (17 ) — Other (e) 5 — — — — — 41 — — 46 — Three months ended June 30, 2020 Trading account assets Other mortgage-backed securities — — — — — — — $ 36 (d) — $ 36 — Securities available for sale Other securities $ 9 $ 3 — — — — — — — 12 — Other investments Principal investments Direct 1 — — — — — — — — 1 — Equity investments Direct 10 — $ 2 (a) — — — — — — 12 2 (a) Loans held for sale (residential) 10 — — — $ (10 ) — — — — — — Loans, net of unearned income (residential) 3 — — — — — $ 2 — — 5 — Derivative instruments (b) Interest rate 96 — 3 (c) — — — — 7 (d) $ (54 ) (d) 52 — Credit (23 ) — 6 (c) — — — — (17 ) — Other (e) 23 — — — — — 23 — — 46 — in millions Beginning of Period Balance Gains (Losses) Included in Other Comprehensive Income Gains (Losses) Included in Earnings Purchases Sales Settlements Transfers Other Transfers into Level 3 Transfers out of Level 3 End of Period Balance Unrealized Gains (Losses) Included in Earnings Six months ended June 30, 2019 Securities available for sale Other securities $ 20 $ 15 — — — — — — $ (24 ) $ 11 — Other investments Principal investments Direct (a) 1 — — — — — — — — 1 — Equity investments Direct 7 — $ (1 ) (a) — — — — $ 1 — 7 (1 ) Loans held for sale (residential) — — — — $ (1 ) — $ 1 — — — — Loans, net of unearned income (residential) 3 — — — — — — — — 3 — Derivative instruments (b) Interest rate 5 — 3 (c) — — — — 2 (d) (6 ) (d) 4 — Credit — — — $ (1 ) — — — — — (1 ) — Other (e) 3 — — — — — 3 — — 6 — Three months ended June 30, 2019 Securities available for sale Other securities $ 25 $ 10 — — — — — — $ (24 ) $ 11 — Other investments Principal investments Direct 1 — — $ (1 ) $ 1 — — — — 1 $ — Equity investments Direct 8 — $ (1 ) (a) — — — — — — 7 (1 ) Loans held for sale (residential) 1 — — — (1 ) — — — — — — Loans, net of unearned income (residential) 3 — — — — — — — — 3 — Derivative instruments (b) Interest rate 3 — 2 (c) — — — — $ — (1 ) (d) 4 — Credit (1 ) — — — — $ — — — — (1 ) — Other (e) 4 — — — — — 2 — — 6 — (a) Realized and unrealized gains and losses on principal investments and other equity investments are reported in “other income” on the income statement. (b) Amounts represent Level 3 derivative assets less Level 3 derivative liabilities. (c) Realized and unrealized gains and losses on derivative instruments are reported in “corporate services income” and “other income” on the income statement. (d) Certain trading account assets and derivatives previously classified as Level 2 were transferred to Level 3 because Level 3 unobservable inputs became significant. Certain derivatives previously classified as Level 3 were transferred to Level 2 because Level 3 unobservable inputs became less significant. (e) Amounts represent Level 3 interest rate lock commitments.
Assets and Liabilities Measured at Fair Value on Nonrecurring Basis	The following table presents our assets measured at fair value on a nonrecurring basis at June 30, 2020 , and December 31, 2019 : June 30, 2020 December 31, 2019 in millions Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total ASSETS MEASURED ON A NONRECURRING BASIS Collateral-dependent loans — $ — $ 135 $ 135 — — $ 76 $ 76 Accrued income and other assets — — 91 91 — $ 118 51 169 Total assets on a nonrecurring basis at fair value — $ — $ 226 $ 226 — $ 118 $ 127 $ 245
Quantitative Information about Level 3 Fair Value Measurements	The range and weighted-average of the significant unobservable inputs used to fair value our material Level 3 recurring and nonrecurring assets at June 30, 2020 , and December 31, 2019 , along with the valuation techniques used, are shown in the following table: Level 3 Asset (Liability) Valuation Technique Significant Unobservable Input Range (Weighted-Average) (b), (c) dollars in millions June 30, 2020 December 31, 2019 June 30, 2020 December 31, 2019 Recurring Trading account assets: Other mortgage-backed securities $ 36 $ — Discounted cash flows Discount rate 2.37% - 5.82% (3.05%) N/A Conditional prepayment rate 8.5 - 14.0 (10.65) N/A Constant default rate 0.5 - 2 (1.13) N/A Loss severity 50 - 70% (55.70%) N/A Securities available-for-sale: Other securities $ 12 11 Discounted cash flows Discount rate N/A (15.09%) N/A (16.10%) Marketability discount N/A (30.00%) N/A (30.00%) Volatility factor N/A (44.00%) N/A (43.00%) Other investments: (a) Equity investments Direct 12 12 Discounted cash flows Discount rate 13.48 - 16.88% (15.14%) 13.91 - 17.24% (15.61%) Marketability discount N/A (30.00%) N/A (30.00%) Volatility factor N/A (55.00%) N/A (47.00%) Loans, net of unearned income (residential) 5 4 Market comparable pricing Comparability factor 79.00-98.16% (90.80%) 79.00 - 98.00% (91.05%) Derivative instruments: Interest rate 52 22 Discounted cash flows Probability of default .02 - 100% (11.20%) .02 - 100% (5.40%) Internal risk rating 1 - 19 (9.359) 1 - 19 (9.168) Loss given default 0 - 1 (.478) 0 - 1 (.492) Credit (assets) 3 1 Discounted cash flows Probability of default .02 - 100% (9.20%) .02 - 100% (4.2%) Internal risk rating 1 - 19 (10.32) 1 - 19 (10.13) Loss given default 0 - 1 (.491) 0 - 1 (.498) Credit (liabilities) (20 ) (9 ) Discounted cash flows Probability of default .02 - 100% (19.33%) .02 - 100% (12.24%) Internal risk rating 1 - 19 (7.73) 1 - 19 (8.058) Loss given default 0 - 1 (.393) 0 - 1 (.411) Other (d) 46 5 Discounted cash flows Loan closing rates 33.78 - 99.70 % (75.74%) 37.71 - 99.69% (79.33%) Nonrecurring Collateral-dependent loans 135 76 Fair value of collateral Discount rate 0 - 55.00% (23.00%) 0 - 60.00% (10.00%) Accrued income and other assets: OREO and other Level 3 assets (e) 2 5 Appraised value Appraised value N/M N/M (a) Principal investments, direct is excluded from this table as the balance at June 30, 2020 , and December 31, 2019 , is insignificant (less than $1 million ). (b) The weighted average of significant unobservable inputs is calculated using a weighting relative to fair value. (c) For significant unobservable inputs with no range, a single figure is reported to denote the single quantitative factor used. (d) Amounts represent interest rate lock commitments. (e) Excludes $89 million and $46 million pertaining to mortgage servicing assets at June 30, 2020 and December 31, 2019 . Refer to Note 8 (“ Mortgage Servicing Assets ”) for significant unobservable inputs pertaining to these assets.
Fair Value Disclosures of Financial Instruments	The Levels in the fair value hierarchy ascribed to our financial instruments and the related carrying amounts at June 30, 2020 , and December 31, 2019 , are shown in the following tables. Assets and liabilities are further arranged by measurement category. June 30, 2020 Fair Value in millions Carrying Amount Level 1 Level 2 Level 3 Measured at NAV Netting Adjustment Total ASSETS (by measurement category) Fair value - net income Trading account assets (b) $ 645 $ — $ 609 $ 36 — — $ 645 Other investments (b) 655 — — 590 $ 65 — 655 Loans, net of unearned income (residential) (d) 5 — — 5 — — 5 Loans held for sale (residential) (b) 250 — 250 — — — 250 Derivative assets - trading (b) 1,974 79 2,433 101 — $ (639 ) (f) 1,974 Fair value - OCI Securities available for sale (b) 23,600 — 23,588 $ 12 — — 23,600 Derivative assets - hedging (b)(g) 119 — 89 — — 30 (f) 119 Amortized cost Held-to-maturity securities (c) 9,075 — 9,520 — — — 9,520 Loans, net of unearned income (d) 104,446 — — 102,765 — — 102,765 Loans held for sale (b) 1,757 — — 1,757 — — 1,757 Other Cash and short-term investments (a) 15,095 15,095 — — — — 15,095 LIABILITIES (by measurement category) Fair value - net income Derivative liabilities - trading (b) $ 309 $ 69 $ 845 20 — $ (625 ) (f) $ 309 Fair value - OCI Derivative liabilities - hedging (b)(g) 1 — 5 — — (4 ) (f) 1 Amortized cost Time deposits (e) 8,487 — 8,540 — — — 8,540 Short-term borrowings (a) 1,983 285 1,698 — — — 1,983 Long-term debt (e) 13,734 13,870 731 — — — 14,601 Other Deposits with no stated maturity (a) 127,026 — 127,026 — — — 127,026 December 31, 2019 Fair Value in millions Carrying Amount Level 1 Level 2 Level 3 Measured at NAV Netting Adjustment Total ASSETS (by measurement category) Fair value - net income Trading account assets (b) $ 1,040 — $ 1,040 — — — $ 1,040 Other investments (b) 605 — — $ 528 $ 77 — 605 Loans, net of unearned income (residential) (d) 4 — — 4 — — 4 Loans held for sale (residential) (b) 140 — 140 — — — 140 Derivative assets - trading (b) 715 $ 49 985 28 — $ (347 ) (f) 715 Fair value - OCI Securities available for sale (b) 21,843 — 21,832 11 — — 21,843 Derivative assets - hedging (b)(g) 65 — 191 — — (126 ) (f) 65 Amortized cost Held-to-maturity securities (c) 10,067 — 10,116 — — — 10,116 Loans, net of unearned income (d) 93,742 — — 92,641 — — 92,641 Loans held for sale (b) 1,194 — — 1,194 — — 1,194 Other Cash and short-term investments (a) 2,004 2,004 — — — — 2,004 LIABILITIES (by measurement category) Fair value - net income Derivative liabilities - trading (b) $ 194 $ 43 $ 461 9 — $ (319 ) (f) $ 194 Fair value - OCI Derivative liabilities - hedging (b)(g) 4 — 20 — — (16 ) (f) 4 Amortized cost Time deposits (e) 11,652 — 11,752 — — — 11,752 Short-term borrowings (a) 1,092 19 1,073 — — — 1,092 Long-term debt (e) 12,448 12,694 249 — — — 12,943 Other Deposits with no stated maturity (a) 100,218 — 100,218 — — — 100,218 Valuation Methods and Assumptions (a) Fair value equals or approximates carrying amount. The fair value of deposits with no stated maturity does not take into consideration the value ascribed to core deposit intangibles. (b) Information pertaining to our methodology for measuring the fair values of these assets and liabilities is included in the sections entitled “Qualitative Disclosures of Valuation Techniques” and “Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis” in this Note. Investments accounted for under the cost method (or cost less impairment adjusted for observable price changes for certain equity investments) are classified as Level 3 assets. These investments are not actively traded in an open market as sales for these types of investments are rare. The carrying amount of the investments carried at cost are adjusted for declines in value if they are considered to be other-than-temporary (or due to observable orderly transactions of the same issuer for equity investments eligible for the cost less impairment measurement alternative). These adjustments are included in “other income” on the income statement. (c) Fair values of held-to-maturity securities are determined by using models that are based on security-specific details, as well as relevant industry and economic factors. The most significant of these inputs are quoted market prices, interest rate spreads on relevant benchmark securities, and certain prepayment assumptions. We review the valuations derived from the models to ensure that they are reasonable and consistent with the values placed on similar securities traded in the secondary markets. (d) The fair value of loans is based on the present value of the expected cash flows. The projected cash flows are based on the contractual terms of the loans, adjusted for prepayments and use of a discount rate based on the relative risk of the cash flows, taking into account the loan type, maturity of the loan, liquidity risk, servicing costs, and a required return on debt and capital. In addition, an incremental liquidity discount is applied to certain loans, using historical sales of loans during periods of similar economic conditions as a benchmark. The fair value of loans includes lease financing receivables at their aggregate carrying amount, which is equivalent to their fair value. (e) Fair values of time deposits and long-term debt are based on discounted cash flows utilizing relevant market inputs. (f) Netting adjustments represent the amounts recorded to convert our derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The net basis takes into account the impact of bilateral collateral and master netting agreements that allow us to settle all derivative contracts with a single counterparty on a net basis and to offset the net derivative position with the related cash collateral. Total derivative assets and liabilities include these netting adjustments. (g) Derivative assets-hedging and derivative liabilities-hedging includes both cash flow and fair value hedges. Additional information regarding our accounting policies for cash flow and fair value hedges is provided in Note 1 (“ 1. Summary of Significant Accounting Policies ”) under the heading “Derivatives and Hedging” beginning on page 105 of our 2019 Form 10-K.

Securities (Tables)

Securities (Tables)	6 Months Ended
	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Details of Securities	The amortized cost, unrealized gains and losses, and approximate fair value of our securities available for sale and held-to-maturity securities are presented in the following tables. Gross unrealized gains and losses represent the difference between the amortized cost and the fair value of securities on the balance sheet as of the dates indicated. Accordingly, the amount of these gains and losses may change in the future as market conditions change. June 30, 2020 December 31, 2019 in millions Amortized Cost (a) Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value SECURITIES AVAILABLE FOR SALE U.S. Treasury, agencies, and corporations $ 3,465 — — $ 3,465 $ 334 — — $ 334 States and political subdivisions 3 $ 1 — 4 4 — — 4 Agency residential collateralized mortgage obligations 11,600 348 $ 1 11,947 12,772 $ 82 $ 71 12,783 Agency residential mortgage-backed securities 1,373 72 — 1,445 1,677 41 4 1,714 Agency commercial mortgage-backed securities 6,301 426 — 6,727 6,898 139 40 6,997 Other securities 8 4 — 12 7 4 — 11 Total securities available for sale $ 22,750 $ 851 $ 1 $ 23,600 $ 21,692 $ 266 $ 115 $ 21,843 HELD-TO-MATURITY SECURITIES Agency residential collateralized mortgage obligations $ 4,886 $ 151 — $ 5,037 $ 5,692 $ 23 $ 49 $ 5,666 Agency residential mortgage-backed securities 359 16 — 375 409 6 — 415 Agency commercial mortgage-backed securities 3,805 278 — 4,083 3,940 78 9 4,009 Asset-backed securities 10 — — 10 11 — — 11 Other securities 15 — — 15 15 — — 15 Total held-to-maturity securities $ 9,075 $ 445 — $ 9,520 $ 10,067 $ 107 $ 58 $ 10,116 (a) Amortized cost amounts exclude accrued interest receivable which is recorded within “other assets” on the balance sheet. At June 30, 2020 , accrued interest receivable on available for sale securities and held-to-maturity securities totaled $39 million and $18 million , respectively.
Schedule of Unrealized Loss on Investments	The following table summarizes available for sale securities in an unrealized loss position for which an allowance for credit losses has not been recorded as of June 30, 2020 , and December 31, 2019 . Duration of Unrealized Loss Position Less than 12 Months 12 Months or Longer Total in millions Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses June 30, 2020 Securities available for sale: U.S Treasury, agencies, and corporations $ 455 — (a) — — $ 455 — Agency residential collateralized mortgage obligations 371 — (a) $ 58 $ 1 429 $ 1 Agency residential mortgage-backed securities 10 — (a) 5 — (a) 15 — Held-to-maturity securities: Agency residential collateralized mortgage obligations — — 37 — (a) 37 — Asset-backed securities 1 — (a) — — 1 — Other securities 10 — (a) — — 10 — Total securities in an unrealized loss position $ 847 — $ 100 $ 1 $ 947 $ 1 December 31, 2019 Securities available for sale: U.S. Treasury, agencies, and corporations $ 30 — (b) $ 30 — (b) $ 60 — Agency residential collateralized mortgage obligations 3,432 $ 20 3,221 $ 51 6,653 $ 71 Agency residential mortgage-backed securities 33 — (b) 629 4 662 4 Agency commercial mortgage-backed securities 1,541 17 1,213 23 2,754 40 Held-to-maturity securities: Agency residential collateralized mortgage obligations 1,626 14 2,289 35 3,915 49 Agency residential mortgage-backed securities 56 — (b) — — 56 — Agency commercial mortgage-backed securities 518 9 — — 518 9 Asset-backed securities 11 — (b) — — 11 — Other securities 3 — (b) — — 3 — Total securities in an unrealized loss position $ 7,250 $ 60 $ 7,382 $ 113 $ 14,632 $ 173 (a) At June 30, 2020 , gross unrealized losses totaled less than $1 million for U.S. Treasury, agencies, and corporations, agency residential collateralized mortgage obligations, and agency residential mortgage-backed securities available for sale with a loss duration of less than 12 months. At June 30, 2020 , gross unrealized losses totaled less than $1 million for asset-backed securities and other securities held-to-maturity with a loss duration of less than 12 months. At June 30, 2020 , gross unrealized losses totaled less than $1 million for agency residential mortgage-backed securities available for sale with a loss duration greater than 12 months or longer. At June 30, 2020 , gross unrealized losses totaled less than $1 million for agency residential collateralized mortgage obligations held-to-maturity with a loss duration greater than 12 months or longer. (b) At December 31, 2019 , gross unrealized losses totaled less than $1 million for U.S. Treasury, agencies, and corporations and agency residential mortgage-backed securities available for sale with a loss duration of less than 12 months. At December 31, 2019 , gross unrealized losses totaled less than $1 million for U.S. Treasury, Agencies, and Corporations securities available for sale with a loss duration greater than 12 months or longer. At December 31, 2019 , gross unrealized losses totaled less than $1 million for agency residential mortgage-backed securities, asset-backed securities, and other securities held-to-maturity with a loss duration of less than 12 months.
Securities by Maturity	The following table shows our securities by remaining maturity. CMOs and other mortgage-backed securities in the available for sale portfolio and held-to-maturity portfolio are presented based on their expected average lives. The remaining securities, in both the available-for-sale and held-to-maturity portfolios, are presented based on their remaining contractual maturity. Actual maturities may differ from expected or contractual maturities since borrowers have the right to prepay obligations with or without prepayment penalties. June 30, 2020 Securities Available for Sale Held to Maturity Securities in millions Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 3,918 $ 3,928 $ 126 $ 128 Due after one through five years 14,490 15,024 6,323 6,564 Due after five through ten years 4,340 4,646 2,626 2,828 Due after ten years 2 2 — — Total $ 22,750 $ 23,600 $ 9,075 $ 9,520

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Values, Volume of Activity and Gain (Loss) Information Related to Derivative Instruments	The following table summarizes the fair values of our derivative instruments on a gross and net basis as of June 30, 2020 , and December 31, 2019 . The derivative asset and liability balances are presented on a gross basis, prior to the application of bilateral collateral and master netting agreements, but after the variation margin payments with central clearing organizations have been applied as settlement, as applicable. Total derivative assets and liabilities are adjusted to take into account the impact of legally enforceable master netting agreements that allow us to settle all derivative contracts with a single counterparty on a net basis and to offset the net derivative position with the related cash collateral. Securities collateral related to legally enforceable master netting agreements is not offset on the balance sheet. Our derivative instruments are included in “accrued income and other assets” or “accrued expenses and other liabilities” on the balance sheet, as follows: June 30, 2020 December 31, 2019 Fair Value Fair Value in millions Notional Amount Derivative Assets Derivative Liabilities Notional Amount Derivative Assets Derivative Liabilities Derivatives designated as hedging instruments: Interest rate $ 34,602 $ 89 $ 5 $ 39,208 $ 191 $ 20 Derivatives not designated as hedging instruments: Interest rate 79,573 1,931 332 71,209 772 233 Foreign exchange 6,040 108 97 6,572 67 60 Commodity 6,399 487 462 5,324 208 200 Credit 591 4 20 427 1 10 Other (a) 7,818 83 23 3,337 14 10 Total 100,421 2,613 934 86,869 1,062 513 Netting adjustments (b) — (609 ) (629 ) — (473 ) (335 ) Net derivatives in the balance sheet 135,023 2,093 310 126,077 780 198 Other collateral (c) — (3 ) (1 ) — (2 ) (42 ) Net derivative amounts $ 135,023 $ 2,090 $ 309 $ 126,077 $ 778 $ 156 (a) Other derivatives include interest rate lock commitments and forward sale commitments related to our residential mortgage banking activities, forward purchase and sales contracts consisting of contractual commitments associated with “to be announced” securities and when-issued securities, and other customized derivative contracts. (b) Netting adjustments represent the amounts recorded to convert our derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. (c) Other collateral represents the amount that cannot be used to offset our derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The other collateral consists of securities and is exchanged under bilateral collateral and master netting agreements that allow us to offset the net derivative position with the related collateral. The application of the other collateral cannot reduce the net derivative position below zero. Therefore, excess other collateral, if any, is not reflected above.
Pre-Tax Net Gains (Losses) on Fair Value Hedges	The following tables summarize the amounts that were recorded on the balance sheet as of June 30, 2020 , and December 31, 2019 , related to cumulative basis adjustments for fair value hedges. June 30, 2020 in millions Balance sheet line item in which the hedge item is included Carrying amount of hedged item (a) Hedge accounting basis adjustment (b) Interest rate contracts Long-term debt $ 9,222 $ 538 December 31, 2019 Balance sheet line item in which the hedge item is included Carrying amount of hedged item (a) Hedge accounting basis adjustment (b) Interest rate contracts Long-term debt $ 8,408 $ 240 (a) The carrying amount represents the portion of the liability designated as the hedged item. (b) Basis adjustments related to de-designated hedged items that no longer qualify as fair value hedges reduced the hedge accounting basis adjustment by $9 million and $9 million at June 30, 2020 , and December 31, 2019 , respectively,
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location	The following tables summarize the effect of fair value and cash flow hedge accounting on the income statement for the three- and six- month periods ended June 30, 2020 , and June 30, 2019 . Location and amount of net gains (losses) recognized in income on fair value and cash flow hedging relationships in millions Interest expense – long-term debt Interest income – loans Interest expense - deposits Other income Three months ended June 30, 2020 Total amounts presented in the consolidated statement of income $ (71 ) $ 980 $ (96 ) $ 33 Net gains (losses) on fair value hedging relationships Interest contracts Recognized on hedged items (5 ) — — — Recognized on derivatives designated as hedging instruments 39 — — — Net income (expense) recognized on fair value hedges $ 34 — — — Net gain (loss) on cash flow hedging relationships Interest contracts Realized gains (losses) (pre-tax) reclassified from AOCI into net income $ (1 ) $ 90 — — Net income (expense) recognized on cash flow hedges $ (1 ) $ 90 — — Three months ended June 30, 2019 Total amounts presented in the consolidated statement of income $ (120 ) $ 1,082 $ (223 ) $ 17 Net gains (losses) on fair value hedging relationships Interest contracts Recognized on hedged items $ (152 ) — $ (1 ) — Recognized on derivatives designated as hedging instruments 142 — — — Net income (expense) recognized on fair value hedges $ (10 ) — $ (1 ) — Net gain (loss) on cash flow hedging relationships Interest contracts Realized gains (losses) (pre-tax) reclassified from AOCI into net income $ — $ (19 ) — — Net income (expense) recognized on cash flow hedges $ — $ (19 ) — — Location and amount of net gains (losses) recognized in income on fair value and cash flow hedging relationships in millions Interest expense – long-term debt Interest income – loans Interest expense - deposits Other income Six months ended June 30, 2020 Total amounts presented in the consolidated statement of income $ (161 ) $ 2,006 $ (265 ) $ (55 ) Net gains (losses) on fair value hedging relationships Interest contracts Recognized on hedged items (299 ) — — — Recognized on derivatives designated as hedging instruments 350 — — — Net income (expense) recognized on fair value hedges $ 51 — — — Net gain (loss) on cash flow hedging relationships Interest contracts Realized gains (losses) (pre-tax) reclassified from AOCI into net income $ (2 ) $ 124 — — Net income (expense) recognized on cash flow hedges $ (2 ) $ 124 — — Six months ended June 30, 2019 Total amounts presented in the consolidated statement of income $ (240 ) $ 2,148 $ (425 ) $ 27 Net gains (losses) on fair value hedging relationships Interest contracts Recognized on hedged items $ (245 ) — $ (1 ) — Recognized on derivatives designated as hedging instruments 224 — — — Net income (expense) recognized on fair value hedges $ (21 ) — $ (1 ) — Net gain (loss) on cash flow hedging relationships Interest contracts Realized gains (losses) (pre-tax) reclassified from AOCI into net income $ (1 ) $ (43 ) — — Net income (expense) recognized on cash flow hedges $ (1 ) $ (43 ) — —
Derivative Instrument Cash Flow Hedge Earning Recognized by Income Statement Location	The following tables summarize the pre-tax net gains (losses) on our cash flow and net investment hedges for the three- and six- month periods ended June 30, 2020 , and June 30, 2019 , and where they are recorded on the income statement. The table includes net gains (losses) recognized in OCI during the period and net gains (losses) reclassified from OCI into income during the current period. in millions Net Gains (Losses) Recognized in OCI Income Statement Location of Net Gains (Losses) Reclassified From OCI Into Income Net Gains (Losses) Reclassified From OCI Into Income Three months ended June 30, 2020 Cash Flow Hedges Interest rate $ 62 Interest income — Loans $ 90 Interest rate (1 ) Interest expense — Long-term debt (1 ) Interest rate 10 Investment banking and debt placement fees — Total $ 71 $ 89 Three months ended June 30, 2019 Cash Flow Hedges Interest rate $ 270 Interest income — Loans $ (19 ) Interest rate (2 ) Interest expense — Long-term debt — Interest rate (1 ) Investment banking and debt placement fees — Net Investment Hedges Foreign exchange contracts (1 ) Other Income — Total $ 266 $ (19 ) in millions Net Gains (Losses) Recognized in OCI Income Statement Location of Net Gains (Losses) Reclassified From OCI Into Income Net Gains (Losses) Reclassified From OCI Into Income (a) Six months ended June 30, 2020 Cash Flow Hedges Interest rate $ 624 Interest income — Loans $ 124 Interest rate (6 ) Interest expense — Long-term debt (2 ) Interest rate (20 ) Investment banking and debt placement fees — Net Investment Hedges Foreign exchange contracts — Other Income — Total $ 598 $ 122 Six months ended June 30, 2019 Cash Flow Hedges Interest rate $ 385 Interest income — Loans $ (43 ) Interest rate (3 ) Interest expense — Long-term debt (1 ) Interest rate (6 ) Investment banking and debt placement fees — Net Investment Hedges Foreign exchange contracts (4 ) Other Income — Total $ 372 $ (44 )
Pre-Tax Net Gains (Losses) on Derivatives Not Designated as Hedging Instruments	The following table summarizes the pre-tax net gains (losses) on our derivatives that are not designated as hedging instruments for the three- and six- month periods ended June 30, 2020 , and June 30, 2019 , and where they are recorded on the income statement. Three months ended June 30, 2020 Three months ended June 30, 2019 in millions Corporate services income Consumer mortgage income Other income Total Corporate services income Consumer mortgage income Other income Total NET GAINS (LOSSES) Interest rate $ 7 — $ — $ 7 $ 7 — — $ 7 Foreign exchange 8 — — 8 11 — — 11 Commodity 6 — — 6 2 — — 2 Credit 6 — (13 ) (7 ) — — $ (8 ) (8 ) Other — 4 16 20 — — 2 2 Total net gains (losses) $ 27 4 $ 3 $ 34 $ 20 — $ (6 ) $ 14 Six months ended June 30, 2020 Six months ended June 30, 2019 in millions Corporate services income Consumer mortgage income Other income Total Corporate services income Consumer mortgage income Other income Total NET GAINS (LOSSES) Interest rate $ 18 $ — $ (9 ) $ 9 $ 15 — $ (2 ) $ 13 Foreign exchange 20 — — 20 21 — — 21 Commodity 8 — — 8 3 — — 3 Credit (10 ) — (12 ) (22 ) 1 — (15 ) (14 ) Other — 8 25 33 — $ — 3 3 Total net gains (losses) $ 36 $ 8 $ 4 $ 48 $ 40 $ — $ (14 ) $ 26
Fair Value of Derivative Assets by Type	The following table summarizes the fair value of our derivative assets by type at the dates indicated. These assets represent our gross exposure to potential loss after taking into account the effects of bilateral collateral and master netting agreements and other means used to mitigate risk. in millions June 30, 2020 December 31, 2019 Interest rate $ 1,860 $ 848 Foreign exchange 49 30 Commodity 270 95 Credit — — Other 83 14 Derivative assets before collateral 2,262 987 Less: Related collateral 169 207 Total derivative assets $ 2,093 $ 780
Credit Derivatives Sold and Held	The following table provides information on the types of credit derivatives sold by us and held on the balance sheet at June 30, 2020 , and December 31, 2019 . The notional amount represents the amount that the seller could be required to pay. The payment/performance risk shown in the table represents a weighted average of the default probabilities for all reference entities in the respective portfolios. These default probabilities are implied from observed credit indices in the credit default swap market, which are mapped to reference entities based on Key’s internal risk rating. June 30, 2020 December 31, 2019 dollars in millions Notional Amount Average Term (Years) Payment / Performance Risk Notional Amount Average Term (Years) Payment / Performance Risk Other $ 327 13.94 19.84 % $ 134 14.30 14.56 % Total credit derivatives sold $ 327 — — $ 134 — —
Credit Risk Contingent Feature	The following table summarizes the additional cash and securities collateral that KeyBank would have been required to deliver under the ISDA Master Agreements had the credit risk contingent features been triggered for the derivative contracts in a net liability position as of June 30, 2020 , and December 31, 2019 . The additional collateral amounts were calculated based on scenarios under which KeyBank’s ratings are downgraded one, two, or three ratings as of June 30, 2020 , and December 31, 2019 , and take into account all collateral already posted. A similar calculation was performed for KeyCorp, and no additional collateral would have been required as of June 30, 2020 , and December 31, 2019 . For more information about the credit ratings for KeyBank and KeyCorp, see the discussion under the heading “Factors affecting liquidity” in the section entitled “Liquidity risk management” in Item 2 of this report. June 30, 2020 December 31, 2019 in millions Moody’s S&P Moody’s S&P KeyBank’s long-term senior unsecured credit ratings A3 A- A3 A- One rating downgrade $ 1 $ 1 $ 1 $ 1 Two rating downgrades 1 1 1 1 Three rating downgrades 1 1 1 1

Mortgage Servicing Assets (Tabl

Mortgage Servicing Assets (Tables)	6 Months Ended
	Jun. 30, 2020
Servicing Asset [Abstract]
Changes in Carrying Amount of Mortgage Servicing Assets	Changes in the carrying amount of commercial mortgage servicing assets are summarized as follows: Three months ended June 30, Six months ended June 30, in millions 2020 2019 2020 2019 Balance at beginning of period $ 543 $ 497 $ 539 $ 502 Servicing retained from loan sales 53 23 77 41 Purchases 7 17 18 23 Amortization (30 ) (28 ) (59 ) (57 ) Temporary impairments (8 ) — (10 ) — Balance at end of period $ 565 $ 509 $ 565 $ 509 Fair value at end of period $ 663 $ 723 $ 663 $ 723 Changes in the carrying amount of residential mortgage servicing assets are summarized as follows: Three months ended June 30, Six months ended June 30, in millions 2020 2019 2020 2019 Balance at beginning of period $ 40 $ 38 $ 46 $ 37 Servicing retained from loan sales 8 2 13 4 Purchases — — — — Amortization (3 ) (1 ) (5 ) (2 ) Temporary (impairments) recoveries 1 — (8 ) — Balance at end of period $ 46 $ 39 $ 46 $ 39 Fair value at end of period $ 46 $ 45 $ 46 $ 45
Schedule of Range and Weighted-Average of Significant Unobservable Inputs	The range and weighted average of the significant unobservable inputs used to determine the fair value of our commercial mortgage servicing assets at June 30, 2020 , and June 30, 2019 , along with the valuation techniques, are shown in the following table: dollars in millions June 30, 2020 June 30, 2019 Valuation Technique Significant Unobservable Input Range (Weighted Average) Discounted cash flow Expected defaults 1.00 - 2.00% (1.15%) 1.00 - 2.00% (1.13%) Residual cash flows discount rate 6.97 - 16.16% (9.42%) 7.00 - 11.54% (9.26%) Escrow earn rate 0.78 - 2.25% (1.66%) 1.92 - 3.13% (2.63%) Loan assumption rate 0.00 - 3.37% (1.32%) 0.00 - 3.02% (1.40%) June 30, 2020 , and June 30, 2019 , along with the valuation techniques, are shown in the following table: June 30, 2020 June 30, 2019 Valuation Technique Significant Unobservable Input Range (Weighted Average) Discounted cash flow Prepayment speed 12.29 - 55.18% (16.89%) 10.95 - 62.06% (12.52%) Discount rate 7.55 - 9.27% (7.64%) 7.50 - 10.00% (7.53%) Servicing cost $62 - $5,135 ($77.45) $62 - $4,375 ($67.55)

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Operating Lease, Lease Income	The components of equipment leasing income are summarized in the table below: Three months ended June 30, Six months ended June 30, in millions 2020 2019 2020 2019 Sales-type and direct financing leases Interest income on lease receivable $ 27 $ 31 $ 55 $ 61 Interest income related to accretion of unguaranteed residual asset 3 3 6 6 Interest income on deferred fees and costs — — — — Total sales-type and direct financing lease income 30 34 61 67 Operating leases Operating lease income related to lease payments 35 33 69 66 Other operating leasing gains 25 11 21 15 Total operating lease income and other leasing gains 60 44 90 81 Total lease income $ 90 $ 78 $ 151 $ 148
Sales-type Lease, Lease Income	The components of equipment leasing income are summarized in the table below: Three months ended June 30, Six months ended June 30, in millions 2020 2019 2020 2019 Sales-type and direct financing leases Interest income on lease receivable $ 27 $ 31 $ 55 $ 61 Interest income related to accretion of unguaranteed residual asset 3 3 6 6 Interest income on deferred fees and costs — — — — Total sales-type and direct financing lease income 30 34 61 67 Operating leases Operating lease income related to lease payments 35 33 69 66 Other operating leasing gains 25 11 21 15 Total operating lease income and other leasing gains 60 44 90 81 Total lease income $ 90 $ 78 $ 151 $ 148
Direct Financing Lease, Lease Income	The components of equipment leasing income are summarized in the table below: Three months ended June 30, Six months ended June 30, in millions 2020 2019 2020 2019 Sales-type and direct financing leases Interest income on lease receivable $ 27 $ 31 $ 55 $ 61 Interest income related to accretion of unguaranteed residual asset 3 3 6 6 Interest income on deferred fees and costs — — — — Total sales-type and direct financing lease income 30 34 61 67 Operating leases Operating lease income related to lease payments 35 33 69 66 Other operating leasing gains 25 11 21 15 Total operating lease income and other leasing gains 60 44 90 81 Total lease income $ 90 $ 78 $ 151 $ 148

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities Information	The table below reflects the size of the private equity funds in which we were invested as well as our maximum exposure to loss in connection with these investments at June 30, 2020 , and December 31, 2019 . Unconsolidated VIEs in millions Total Assets Total Liabilities Maximum Exposure to Loss June 30, 2020 Indirect investments $ 9,930 $ 177 $ 74 December 31, 2019 Indirect investments $ 12,954 $ 205 $ 89 The assets and liabilities presented in the table below convey the size of KCDC’s direct and indirect investments at June 30, 2020 , and December 31, 2019 . As these investments represent unconsolidated VIEs, the assets and liabilities of the investments themselves are not recorded on our balance sheet. Additional information pertaining to our LIHTC investments is included in Note 13 (“ Variable Interest Entities ”) beginning on page 146 of our 2019 Form 10-K. Unconsolidated VIEs in millions Total Assets Total Liabilities Maximum Exposure to Loss June 30, 2020 LIHTC investments $ 6,300 $ 2,534 $ 1,760 December 31, 2019 LIHTC investments $ 6,405 $ 2,526 $ 1,846

Securities Financing Activiti_2

Securities Financing Activities (Tables)	6 Months Ended
	Jun. 30, 2020
Banking and Thrift, Other Disclosures [Abstract]
Summarized Securities Financing Agreements	The following table summarizes our securities financing agreements at June 30, 2020 , and December 31, 2019 : June 30, 2020 December 31, 2019 in millions Gross Amount Presented in Balance Sheet Netting Adjustments (a) Collateral (b) Net Amounts Gross Amount Presented in Balance Sheet Netting Adjustments (a) Collateral (b) Net Amounts Offsetting of financial assets: Reverse repurchase agreements $ 9 $ (6 ) (3 ) — $ 5 $ (5 ) — — Total $ 9 $ (6 ) (3 ) — $ 5 $ (5 ) — — Offsetting of financial liabilities: Repurchase agreements (c) $ 267 $ (6 ) $ (261 ) — $ 187 $ (7 ) $ (180 ) — Total $ 267 $ (6 ) $ (261 ) — $ 187 $ (7 ) $ (180 ) — (a) Netting adjustments take into account the impact of master netting agreements that allow us to settle with a single counterparty on a net basis. (b) These adjustments take into account the impact of bilateral collateral agreements that allow us to offset the net positions with the related collateral. The application of collateral cannot reduce the net position below zero. Therefore, excess collateral, if any, is not reflected above. (c) Repurchase agreements are collateralized by mortgaged-backed agency securities and are contracted on an overnight or continuous basis.

Employee Benefits (Tables)

Employee Benefits (Tables)	6 Months Ended
	Jun. 30, 2020
Retirement Benefits [Abstract]
Net Pension Cost (Benefit) for All Funded and Unfunded Plans	The components of net pension cost (benefit) for all funded and unfunded plans are recorded in “other expense” and are summarized in the following table. For more information on our Pension Plans and Other Postretirement Benefit Plans, see Note 18 (“ Employee Benefits ”) beginning on page 155 of our 2019 Form 10-K. Three months ended June 30, Six months ended June 30, in millions 2020 2019 2020 2019 Interest cost on PBO $ 8 $ 12 $ 17 $ 23 Expected return on plan assets (9 ) (12 ) (19 ) (24 ) Amortization of losses 4 3 8 7 Settlement loss 4 — 8 — Net pension cost $ 7 $ 3 $ 14 $ 6

Trust Preferred Securities Is_2

Trust Preferred Securities Issued by Unconsolidated Subsidiaries (Tables)	6 Months Ended
	Jun. 30, 2020
Banking and Thrift, Other Disclosures [Abstract]
Summary of Trust Preferred Securities, Common Stock and Related Debentures	The trust preferred securities, common stock, and related debentures are summarized as follows: dollars in millions Trust Preferred Securities, Net of Discount (a) Common Stock Principal Amount of Debentures, Net of Discount (b) Interest Rate of Trust Preferred Securities and Debentures (c) Maturity of Trust Preferred Securities and Debentures June 30, 2020 KeyCorp Capital I $ 156 $ 6 $ 162 2.173 % 2028 KeyCorp Capital II 114 4 118 6.875 2029 KeyCorp Capital III 149 4 153 7.750 2029 HNC Statutory Trust III 19 1 20 1.760 2035 Willow Grove Statutory Trust I 19 1 20 1.631 2036 HNC Statutory Trust IV 17 1 18 2.040 2037 Westbank Capital Trust II 8 — 8 2.496 2034 Westbank Capital Trust III 8 — 8 2.496 2034 Total $ 490 $ 17 $ 507 4.932 % — December 31, 2019 $ 466 $ 17 $ 483 5.214 % — (a) The trust preferred securities must be redeemed when the related debentures mature, or earlier if provided in the governing indenture. Each issue of trust preferred securities carries an interest rate identical to that of the related debenture. Certain trust preferred securities include basis adjustments related to fair value hedges totaling $78 million at June 30, 2020 , and $57 million at December 31, 2019 . See Note 7 (“ Derivatives and Hedging Activities ”) for an explanation of fair value hedges. (b) We have the right to redeem these debentures. If the debentures purchased by KeyCorp Capital I, HNC Statutory Trust III, Willow Grove Statutory Trust I, HNC Statutory Trust IV, Westbank Capital Trust II, or Westbank Capital Trust III are redeemed before they mature, the redemption price will be the principal amount, plus any accrued but unpaid interest. If the debentures purchased by KeyCorp Capital II or KeyCorp Capital III are redeemed before they mature, the redemption price will be the greater of: (i) the principal amount, plus any accrued but unpaid interest, or (ii) the sum of the present values of principal and interest payments discounted at the Treasury Rate (as defined in the applicable indenture), plus 20 basis points for KeyCorp Capital II or 25 basis points for KeyCorp Capital III, or 50 basis points in the case of redemption upon either a tax or a capital treatment event for either KeyCorp Capital II or KeyCorp Capital III, plus any accrued but unpaid interest. The principal amount of certain debentures includes basis adjustments related to fair value hedges totaling $78 million at June 30, 2020 , and $57 million at December 31, 2019 . See Note 7 (“ Derivatives and Hedging Activities ”) for an explanation of fair value hedges. The principal amount of debentures, net of discounts, is included in “long-term debt” on the balance sheet. (c) The interest rates for the trust preferred securities issued by KeyCorp Capital II and KeyCorp Capital III are fixed. The trust preferred securities issued by KeyCorp Capital I have a floating interest rate, equal to three-month LIBOR plus 74 basis points, that reprices quarterly. The trust preferred securities issued by HNC Statutory Trust III have a floating interest rate, equal to three-month LIBOR plus 140 basis points, that reprices quarterly. The trust preferred securities issued by Willow Grove Statutory Trust I have a floating interest rate, equal to three-month LIBOR plus 131 basis points, that reprices quarterly. The trust preferred securities issued by HNC Statutory Trust IV have a floating interest rate, equal to three-month LIBOR plus 128 basis points, that reprices quarterly. The trust preferred securities issued by Westbank Capital Trust II and Westbank Capital Trust III each have a floating interest rate, equal to three-month LIBOR plus 219 basis points, that reprices quarterly. The total interest rates are weighted-average rates.

Contingent Liabilities and Gu_2

Contingent Liabilities and Guarantees (Tables)	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Guarantees	The following table shows the types of guarantees that we had outstanding at June 30, 2020 . Information pertaining to the basis for determining the liabilities recorded in connection with these guarantees is included in Note 1 (“ Summary of Significant Accounting Policies ”) under the heading “Contingencies and Guarantees” beginning on page 108 of our 2019 Form 10-K. June 30, 2020 Maximum Potential Undiscounted Future Payments Liability Recorded in millions Financial guarantees: Standby letters of credit $ 3,048 $ 69 Recourse agreement with FNMA 5,463 22 Residential mortgage reserve 2,057 8 Written put options (a) 3,276 84 Total $ 13,844 $ 183 (a) The maximum potential undiscounted future payments represent notional amounts of derivatives qualifying as guarantees.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Changes in AOCI	Our changes in AOCI for the three and six months ended June 30, 2020 , and June 30, 2019 , are as follows: in millions Unrealized gains (losses) on securities available for sale Unrealized gains (losses) on derivative financial instruments Foreign currency translation adjustment Net pension and postretirement benefit costs Total Balance at December 31, 2019 $ 115 $ 250 — $ (339 ) $ 26 Other comprehensive income before reclassification, net of income taxes 538 456 — — 994 Amounts reclassified from AOCI, net of income taxes (a) (3 ) (93 ) — 12 (84 ) Net current-period other comprehensive income, net of income taxes 535 363 — 12 910 Balance at June 30, 2020 $ 650 $ 613 — $ (327 ) $ 936 Balance at March 31, 2020 $ 520 $ 627 — $ (333 ) $ 814 Other comprehensive income before reclassification, net of income taxes 130 54 — — 184 Amounts reclassified from AOCI, net of income taxes (a) — (68 ) — 6 (62 ) Net current-period other comprehensive income, net of income taxes 130 (14 ) — 6 122 Balance at June 30, 2020 $ 650 $ 613 — $ (327 ) $ 936 Balance at December 31, 2018 $ (373 ) $ (50 ) $ (14 ) $ (381 ) $ (818 ) Other comprehensive income before reclassification, net of income taxes 475 284 4 14 777 Amounts reclassified from AOCI, net of income taxes (a) — 34 — 5 39 Net current-period other comprehensive income, net of income taxes 475 318 4 19 816 Balance at June 30, 2019 $ 102 $ 268 $ (10 ) $ (362 ) $ (2 ) Balance at March 31, 2019 $ (189 ) $ 49 $ (11 ) $ (379 ) $ (530 ) Other comprehensive income before reclassification, net of income taxes 291 204 1 15 511 Amounts reclassified from AOCI, net of income taxes (a) — 15 — 2 17 Net current-period other comprehensive income, net of income taxes 291 219 1 17 528 Balance at June 30, 2019 $ 102 $ 268 $ (10 ) $ (362 ) $ (2 ) (a) See table below for details about these reclassifications.
Reclassifications Out of AOCI	Our reclassifications out of AOCI for the three and six months ended June 30, 2020 , and June 30, 2019 , are as follows: Three months ended June 30, Affected Line Item in the Statement Where Net Income is Presented in millions 2020 2019 Unrealized gains (losses) on derivative financial instruments Interest rate $ 90 $ (19 ) Interest income — Loans Interest rate (1 ) — Interest expense — Long-term debt 89 (19 ) Income (loss) from continuing operations before income taxes 21 (4 ) Income taxes $ 68 (15 ) Income (loss) from continuing operations Net pension and postretirement benefit costs Amortization of losses $ (4 ) $ (3 ) Other expense Settlement loss (4 ) — Other expense (8 ) (3 ) Income (loss) from continuing operations before income taxes (2 ) (1 ) Income taxes $ (6 ) $ (2 ) Income (loss) from continuing operations Six months ended June 30, Affected Line Item in the Statement Where Net Income is Presented in millions 2020 2019 Unrealized gains (losses) on available for sale securities Realized gains $ 4 — Other income 4 — Income (loss) from continuing operations before income taxes 1 — Income taxes $ 3 — Income (loss) from continuing operations Unrealized gains (losses) on derivative financial instruments Interest rate $ 124 $ (43 ) Interest income — Loans Interest rate (2 ) (1 ) Interest expense — Long-term debt 122 (44 ) Income (loss) from continuing operations before income taxes 29 (10 ) Income taxes $ 93 (34 ) Income (loss) from continuing operations Net pension and postretirement benefit costs Amortization of losses $ (8 ) $ (7 ) Other expense Settlement loss (8 ) — Other expense (16 ) (7 ) Income (loss) from continuing operations before income taxes (4 ) (2 ) Income taxes $ (12 ) $ (5 ) Income (loss) from continuing operations

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Schedule of Stockholders Equity	Preferred stock series Amount outstanding (in millions) Shares authorized and outstanding Par value Liquidation preference Ownership interest per depositary share Liquidation preference per depositary share Second quarter 2020 dividends paid per depositary share Fixed-to-Floating Rate Perpetual Noncumulative Series D $ 525 21,000 $ 1 $ 25,000 1/25th $ 1,000 $ 12.50 Fixed-to-Floating Rate Perpetual Noncumulative Series E 500 500,000 1 1,000 1/40th 25 .382813 Fixed Rate Perpetual Noncumulative Series F 425 425,000 1 1,000 1/40th 25 .353125 Fixed Rate Perpetual Non-Cumulative Series G 450 450,000 1 1,000 1/40th 25 .351563

Business Segment Reporting (Tab

Business Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Financial Information of Business Groups	The table below shows selected financial data for our business segments for the three- and six- month periods ended June 30, 2020 , and June 30, 2019 . Three months ended June 30, Consumer Bank Commercial Bank Other Total Key dollars in millions 2020 2019 2020 2019 2020 2019 2020 2019 SUMMARY OF OPERATIONS Net interest income (TE) $ 594 $ 594 $ 442 $ 405 $ (11 ) $ (10 ) $ 1,025 $ 989 Noninterest income 247 231 405 355 40 36 692 622 Total revenue (TE) (a) 841 825 847 760 29 26 1,717 1,611 Provision for credit losses 167 40 314 33 1 1 482 74 Depreciation and amortization expense 20 25 37 35 34 37 91 97 Other noninterest expense 535 527 366 354 21 41 922 922 Income (loss) from continuing operations before income taxes (TE) 119 233 130 338 (27 ) (53 ) 222 518 Allocated income taxes and TE adjustments 28 56 10 61 (1 ) (22 ) 37 95 Income (loss) from continuing operations 91 177 120 277 (26 ) (31 ) 185 423 Income (loss) from discontinued operations, net of taxes — — — — 2 2 2 2 Net income (loss) 91 177 120 277 (24 ) (29 ) 187 425 Less: Net income (loss) attributable to noncontrolling interests — — — — — — — — Net income (loss) attributable to Key $ 91 $ 177 $ 120 $ 277 $ (24 ) $ (29 ) $ 187 $ 425 AVERAGE BALANCES (b) Loans and leases $ 39,197 $ 31,881 $ 68,038 $ 57,918 $ 706 $ 986 $ 107,941 $ 90,785 Total assets (a) 44,106 35,469 76,974 65,901 43,019 41,265 164,099 142,635 Deposits 79,502 72,303 46,099 35,960 2,376 1,338 127,977 109,601 OTHER FINANCIAL DATA Net loan charge-offs (b) $ 39 $ 40 $ 57 $ 23 $ 1 $ 2 $ 97 $ 65 Return on average allocated equity (b) 10.38 % 21.75 % 10.00 % 24.09 % (1.12 )% (1.44 )% 4.21 % 10.26 % Return on average allocated equity 10.38 21.75 10.00 24.09 (1.03 ) (1.34 ) 4.25 10.31 Average full-time equivalent employees (c) 8,863 9,440 2,096 2,260 5,687 5,506 16,646 17,206 (a) Substantially all revenue generated by our major business segments is derived from clients that reside in the United States. Substantially all long-lived assets, including premises and equipment, capitalized software, and goodwill held by our major business segments, are located in the United States. (b) From continuing operations. (c) The number of average full-time equivalent employees was not adjusted for discontinued operations. Six months ended June 30, Consumer Bank Commercial Bank Other Total Key dollars in millions 2020 2019 2020 2019 2020 2019 2020 2019 SUMMARY OF OPERATIONS Net interest income (TE) $ 1,184 $ 1,185 $ 852 $ 807 $ (22 ) $ (18 ) $ 2,014 $ 1,974 Noninterest income 478 445 624 654 67 59 1,169 1,158 Total revenue (TE) (a) 1,662 1,630 1,476 1,461 45 41 3,183 3,132 Provision for credit losses 307 85 529 49 5 2 841 136 Depreciation and amortization expense 41 48 73 65 68 72 182 185 Other noninterest expense 1,058 1,044 681 697 23 56 1,762 1,797 Income (loss) from continuing operations before income taxes (TE) 256 453 193 650 (51 ) (89 ) 398 1,014 Allocated income taxes and TE adjustments 61 108 3 123 4 (46 ) 68 185 Income (loss) from continuing operations 195 345 190 527 (55 ) (43 ) 330 829 Income (loss) from discontinued operations, net of taxes — — — — 3 3 3 3 Net income (loss) 195 345 190 527 (52 ) (40 ) 333 832 Less: Net income (loss) attributable to noncontrolling interests — — — — — — — — Net income (loss) attributable to Key $ 195 $ 345 $ 190 $ 527 $ (52 ) (d) $ (40 ) $ 333 $ 832 AVERAGE BALANCES (b) Loans and leases $ 37,197 $ 31,603 $ 64,060 $ 57,594 $ 801 $ 1,023 $ 102,058 $ 90,220 Total assets (a) 41,283 35,103 73,178 65,390 40,703 40,892 155,164 141,385 Deposits 76,411 71,798 41,078 35,193 1,664 1,603 119,153 108,594 OTHER FINANCIAL DATA Net loan charge-offs (b) $ 83 $ 74 $ 97 $ 53 1 2 $ 181 $ 129 Return on average allocated equity (b) 11.21 % 21.51 % 8.03 % 23.36 % (1.20 )% (1.04 )% 3.80 % 10.37 % Return on average allocated equity 11.21 21.51 8.03 23.36 (1.14 ) (.97 ) 3.84 10.41 Average full-time equivalent employees (c) 8,885 9,531 2,082 2,314 5,620 5,534 16,587 17,379 (a) Substantially all revenue generated by our major business segments is derived from clients that reside in the United States. Substantially all long-lived assets, including premises and equipment, capitalized software, and goodwill held by our major business segments, are located in the United States. (b) From continuing operations. (c) The number of average full-time equivalent employees was not adjusted for discontinued operations.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table represents a disaggregation of revenue from contracts with customers, by business segment, for the three- and six- month periods ended June 30, 2020 , and June 30, 2019 . Three months ended June 30, 2020 Three months ended June 30, 2019 dollars in millions Consumer Bank Commercial Bank Total Contract Revenue Consumer Bank Commercial Bank Total Contract Revenue NONINTEREST INCOME Trust and investment services income $ 87 $ 15 $ 102 $ 92 $ 17 $ 109 Investment banking and debt placement fees — 60 60 — 65 65 Services charges on deposit accounts 38 30 68 56 27 83 Cards and payments income 37 52 89 44 28 72 Other noninterest income 2 — 2 4 — 4 Total revenue from contracts with customers $ 164 $ 157 $ 321 $ 196 $ 137 $ 333 Other noninterest income (a) $ 331 $ 253 Noninterest income from Other (b) 40 36 Total noninterest income $ 692 $ 622 (a) Noninterest income considered earned outside the scope of contracts with customers. (b) Other includes other segments that consists of corporate treasury, our principal investing unit, and various exit portfolios as well as reconciling items which primarily represents the unallocated portion of nonearning assets of corporate support functions. Charges related to the funding of these assets are part of net interest income and are allocated to the business segments through noninterest expense. Reconciling items also includes intercompany eliminations and certain items that are not allocated to the business segments because they do not reflect their normal operations. Refer to Note 19 (“ Business Segment Reporting ”) for more information. Six months ended June 30, 2020 Six months ended June 30, 2019 dollars in millions Consumer Bank Commercial Bank Total Contract Revenue Consumer Bank Commercial Bank Total Contract Revenue NONINTEREST INCOME Trust and investment services income $ 179 $ 34 $ 213 $ 176 $ 32 $ 208 Investment banking and debt placement fees — 107 107 — 110 110 Services charges on deposit accounts 94 58 152 111 55 166 Cards and payments income 75 78 153 81 54 135 Other noninterest income 4 — 4 6 — 6 Total revenue from contracts with customers $ 352 $ 277 $ 629 $ 374 $ 251 $ 625 Other noninterest income (a) $ 473 $ 474 Noninterest income from Other (b) 67 59 Total noninterest income $ 1,169 $ 1,158 (a) Noninterest income considered earned outside the scope of contracts with customers. (b) Other includes other segments that consists of corporate treasury, our principal investing unit, and various exit portfolios as well as reconciling items which primarily represents the unallocated portion of nonearning assets of corporate support functions. Charges related to the funding of these assets are part of net interest income and are allocated to the business segments through noninterest expense. Reconciling items also includes intercompany eliminations and certain items that are not allocated to the business segments because they do not reflect their normal operations. Refer to Note 19 (“ Business Segment Reporting ”) for more information.

Basis of Presentation and Acc_4

Basis of Presentation and Accounting Policies - Narrative (Details) - USD ($) $ in Millions	Jan. 01, 2020		Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adjustment to amortized cost basis of PCD loans	$ 4
Noncredit discount on PCD loans	15
Cumulative effect from changes in accounting principle			$ 17,542		$ 17,038
Accounting Standards Update [Extensible List]			us-gaap:AccountingStandardsUpdate201613Member
Change in Accounting Principle, Accounting Standards Update, Transition Option Elected [Extensible List]			key:AccountingStandardsUpdate201613ProspectiveMember
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect from changes in accounting principle			$ 12,154	$ 12,174	12,469	$ 12,005	$ 11,771	$ 11,556
Retained Earnings | Accounting Standards Update 2016-13 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred taxes recognized on adoption	71
Cumulative Effect, Period of Adoption, Adjustment | Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect from changes in accounting principle	$ (230)	[1]			$ 230
[1]	Includes the impact of implementing ASU 2016-13, Financial Instruments - Credit Losses (ASC 326): Measurement of Credit Losses on Financial Instruments.

Basis of Presentation and Acc_5

Basis of Presentation and Accounting Policies - Measurement of Credit Losses (Details) - USD ($) $ in Millions	Jun. 30, 2020	Mar. 31, 2020	Jan. 01, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses	$ 1,708	$ 1,359	$ 1,104	$ 900	$ 890	$ 883	$ 883
Total ALLL	1,751	1,402	1,145	910	902	896	897
Accrued expense and other liabilities				75
Total allowance for credit losses				985
Commercial Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses	1,113	818	627	751	747	737	743
Consumer Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses	595	541	477		143	146	140
Commercial and industrial | Commercial Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses	725	542	410	551	549	530	532
Real estate — construction | Commercial Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses	41	25	15		24	28	33
Commercial lease financing | Commercial Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses	55	44	43		35	35	36
Home equity loans | Consumer Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses	197	184	178	31	36	36	35
Consumer direct loans | Consumer Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses	130	116	97		32	33	30
Consumer indirect loans | Consumer Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses	60	48	36	30	24	22	20
As Reported Under ASC 326
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses			1,104
Total ALLL			1,145
Accrued expense and other liabilities			145
Total allowance for credit losses			1,290
As Reported Under ASC 326 | Commercial Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses			627
As Reported Under ASC 326 | Consumer Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses			477
As Reported Under ASC 326 | Commercial and industrial | Commercial Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses			410
As Reported Under ASC 326 | Real estate — commercial mortgage | Commercial Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses			159
As Reported Under ASC 326 | Real estate — construction | Commercial Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses			15
As Reported Under ASC 326 | Commercial lease financing | Commercial Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses			43
As Reported Under ASC 326 | Real estate — residential mortgage | Consumer Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses			84
As Reported Under ASC 326 | Home equity loans | Consumer Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses			178
As Reported Under ASC 326 | Consumer direct loans | Consumer Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses			97
As Reported Under ASC 326 | Credit cards | Consumer Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses			82
As Reported Under ASC 326 | Consumer indirect loans | Consumer Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses			36
Impact of ASC 326 Adoption
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses				204
Total ALLL				235
Accrued expense and other liabilities			70
Total allowance for credit losses			305
Impact of ASC 326 Adoption | Commercial Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses				(124)
Impact of ASC 326 Adoption | Commercial and industrial | Commercial Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses				(141)
Impact of ASC 326 Adoption | Home equity loans | Consumer Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses				147
Impact of ASC 326 Adoption | Consumer indirect loans | Consumer Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses				6
Discontinued operations
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses	$ 43	$ 43	41	10	$ 12	$ 13	$ 14
Discontinued operations | As Reported Under ASC 326
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses			$ 41
Discontinued operations | Impact of ASC 326 Adoption
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses				31
Continuing operations | Consumer Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses				149
Continuing operations | Real estate — construction | Commercial Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses				22
Continuing operations | Commercial lease financing | Commercial Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses				35
Continuing operations | Consumer direct loans | Consumer Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses				34
Continuing operations | Impact of ASC 326 Adoption | Consumer Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses				328
Continuing operations | Impact of ASC 326 Adoption | Real estate — construction | Commercial Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses				(7)
Continuing operations | Impact of ASC 326 Adoption | Commercial lease financing | Commercial Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses				8
Continuing operations | Impact of ASC 326 Adoption | Consumer direct loans | Consumer Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses				$ 63

Earnings Per Common Share - Bas

Earnings Per Common Share - Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
EARNINGS
Income (loss) from continuing operations		$ 185	$ 423	$ 330	$ 829
Less: Net income (loss) attributable to noncontrolling interests		0	0	0	0
Income (loss) from continuing operations attributable to Key		185	423	330	829
Less: Dividends on Preferred Stock		26	20	53	40
Income (loss) from continuing operations attributable to Key common shareholders		159	403	277	789
Income (loss) from discontinued operations, net of taxes		2	2	3	3
Net income (loss) attributable to Key common shareholders		$ 161	$ 405	$ 280	$ 792
WEIGHTED-AVERAGE COMMON SHARES
Weighted-average common shares outstanding (000) (in shares)		967,147	999,163	967,380	1,003,047
Effect of common share options and other stock awards (in shares)		4,994	8,801	6,892	9,318
Weighted-average common shares and potential common shares outstanding (in shares)	[1]	972,141	1,007,964	974,272	1,012,365
EARNINGS PER COMMON SHARE
Income (loss) from continuing operations attributable to Key common shareholders (in usd per share)		$ 0.16	$ 0.40	$ 0.29	$ 0.79
Income (loss) from discontinued operations, net of taxes (in usd per share)		0	0	0	0
Net income (loss) attributable to Key common shareholders (in usd per share)	[2]	0.17	0.40	0.29	0.79
Income (loss) from continuing operations attributable to Key common shareholders - assuming dilution (in usd per share)		0.16	0.40	0.28	0.78
Income (loss) from discontinued operations, net of taxes - assuming dilution (in usd per share)		0	0	0	0
Net income (loss) attributable to Key common shareholders (in usd per share)	[2]	$ 0.17	$ 0.40	$ 0.29	$ 0.78
[1]	Assumes conversion of Common Share options and other stock awards and/or convertible preferred stock, as applicable.
[2]	EPS may not foot due to rounding.

Loan Portfolio - Loans by Categ

Loan Portfolio - Loans by Category (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 106,159	$ 94,646
Accrued interest	225	244
Commercial Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	78,205	68,032
Accrued interest	121
Consumer Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	27,954	26,614
Accrued interest	104
Commercial and industrial | Commercial Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	58,297	48,295
Commercial mortgage | Commercial Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	13,465	13,491
Real estate — construction | Commercial Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	1,919	1,558
Credit cards | Commercial Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	132	144
Credit cards | Consumer Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	974	1,130
Commercial real estate loans | Commercial Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	15,384	15,049
Commercial lease financing | Commercial Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	4,524	4,688
Real estate — residential mortgage | Consumer Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	8,149	7,023
Home equity loans | Consumer Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	9,782	10,274
Residential - Prime Loans | Consumer Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	17,931	17,297
Consumer direct loans | Consumer Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	4,327	3,513
Credit cards | Consumer Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	974	1,130
Consumer indirect loans | Consumer Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	4,722	4,674
Collateral pledged | Commercial Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	18	15
Education Lending | Discontinued operations
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 780	$ 865

Asset Quality - Changes in Allo

Asset Quality - Changes in Allowance for Loan and Lease Losses by Loan Category (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020	Jan. 01, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 1,359	$ 883	$ 900	$ 883
Provision	445	72	784	136
Charge-offs	(110)	(84)	(211)	(211)
Recoveries	14	19	31	31
Ending balance	1,708	890	1,708	890
Total ALLL, including discontinued operations	1,751	902	1,751	902	$ 1,402	$ 1,145	$ 910	$ 896	$ 897
Total provision, including discontinued operations	445	74	787	140
Total charge-offs, including discontinued operations	(112)	(88)	(215)	(215)
Total recoveries, including discontinued operations	16	20	34	34
Provision for losses on lending-related commitments	37	2	57	0
Commercial Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	818	737	751	743
Provision	366	48	616	83
Charge-offs	(77)	(47)	(142)	(142)
Recoveries	6	9	12	12
Ending balance	1,113	747	1,113	747
Consumer Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	541	146		140
Provision	79	24	168	53
Charge-offs	(33)	(37)	(69)	(69)
Recoveries	8	10	19	19
Ending balance	595	143	595	143
Commercial and industrial | Commercial Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	542	530	551	532
Provision	249	43	436	67
Charge-offs	(71)	(30)	(131)	(131)
Recoveries	5	6	10	10
Ending balance	725	549	725	549
Commercial mortgage | Commercial Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	207	144	143	142
Provision	87	(5)	137	1
Charge-offs	(2)	(1)	(5)	(5)
Recoveries	0	1	1	1
Ending balance	292	139	292	139
Real estate — construction | Commercial Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	25	28		33
Provision	16	(4)	26	(5)
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Ending balance	41	24	41	24
Commercial real estate loans | Commercial Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	232	172	165	175
Provision	103	(9)	163	(4)
Charge-offs	(2)	(1)	(5)	(5)
Recoveries	0	1	1	1
Ending balance	333	163	333	163
Commercial lease financing | Commercial Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	44	35		36
Provision	14	14	17	20
Charge-offs	(4)	(16)	(6)	(6)
Recoveries	1	2	1	1
Ending balance	55	35	55	35
Real estate — residential mortgage | Consumer Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	89	8	7	7
Provision	14	0	19	1
Charge-offs	(2)	(1)	(2)	(2)
Recoveries	0	0	0	0
Ending balance	101	7	101	7
Home equity loans | Consumer Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	184	36	31	35
Provision	14	4	22	7
Charge-offs	(2)	(6)	(6)	(6)
Recoveries	1	2	3	3
Ending balance	197	36	197	36
Consumer direct loans | Consumer Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	116	33		30
Provision	22	7	51	19
Charge-offs	(10)	(10)	(22)	(22)
Recoveries	2	2	4	4
Ending balance	130	32	130	32
Credit cards | Consumer Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	104	47	47	48
Provision	13	7	44	15
Charge-offs	(12)	(12)	(23)	(23)
Recoveries	2	2	4	4
Ending balance	107	44	107	44
Consumer indirect loans | Consumer Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	48	22	30	20
Provision	16	6	32	11
Charge-offs	(7)	(8)	(16)	(16)
Recoveries	3	4	8	8
Ending balance	60	24	60	24
Discontinued operations
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	43	13	10	14
Provision	0	2	3	4
Charge-offs	(2)	(4)	(4)	(4)
Recoveries	2	1	3	3
Ending balance	$ 43	$ 12	43	$ 12
Continuing operations | Consumer Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance			149
Continuing operations | Real estate — construction | Commercial Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance			22
Continuing operations | Commercial lease financing | Commercial Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance			35
Continuing operations | Consumer direct loans | Consumer Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance			34
Impact of ASC 326 Adoption
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance			204
Total ALLL, including discontinued operations							$ 235
Impact of ASC 326 Adoption | Commercial Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance			(124)
Impact of ASC 326 Adoption | Commercial and industrial | Commercial Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance			(141)
Impact of ASC 326 Adoption | Commercial mortgage | Commercial Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance			16
Impact of ASC 326 Adoption | Commercial real estate loans | Commercial Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance			9
Impact of ASC 326 Adoption | Real estate — residential mortgage | Consumer Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance			77
Impact of ASC 326 Adoption | Home equity loans | Consumer Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance			147
Impact of ASC 326 Adoption | Credit cards | Consumer Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance			35
Impact of ASC 326 Adoption | Consumer indirect loans | Consumer Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance			6
Impact of ASC 326 Adoption | Discontinued operations
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance			31
Impact of ASC 326 Adoption | Continuing operations | Consumer Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance			328
Impact of ASC 326 Adoption | Continuing operations | Real estate — construction | Commercial Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance			(7)
Impact of ASC 326 Adoption | Continuing operations | Commercial lease financing | Commercial Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance			8
Impact of ASC 326 Adoption | Continuing operations | Consumer direct loans | Consumer Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance			$ 63

Asset Quality - Additional Info

Asset Quality - Additional Information (Details) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020USD ($)SecurityLoan	Jun. 30, 2019USD ($)SecurityLoan	Jun. 30, 2020USD ($)SecurityLoan	Jun. 30, 2019USD ($)SecurityLoan	Dec. 31, 2019USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan amount	$ 106,159		$ 106,159		$ 94,646
Loan modifications and forbearance, CARES Act			3,900
Accrued interest	$ 225		$ 225		244
Percentage of carrying amount of our commercial nonperforming loans outstanding	79.00%		79.00%
Percentage of nonperforming loans outstanding face value	80.00%		80.00%
Percentage of loans held for sale and other nonperforming assets	88.00%		88.00%
Net reduction to interest income	$ 7	$ 9	$ 13	$ 17
Commitments outstanding to lend additional funds to borrowers (less than $1 million)	1		1		5
Financial receivable, modifications, subsequent default, recorded investment	1	$ 2	3	$ 4
Commercial Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan amount	78,205		78,205		68,032
Accrued interest	$ 121		121
Number of loans | SecurityLoan	0	0
Consumer Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan amount	$ 27,954		27,954		26,614
Accrued interest	$ 104		104
Number of loans | SecurityLoan	43	102
Continuing operations | Commercial Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Increase in ALLL	$ 486
Increase in ALLL, percent	77.50%
Continuing operations | Consumer Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Increase in ALLL	$ 118
Increase in ALLL, percent	24.70%
PPP
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan amount	$ 8,000		8,000
Real estate — residential mortgage | Consumer Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan amount	8,149		$ 8,149		7,023
Consumer Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans | SecurityLoan			127	174
Commercial Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans | SecurityLoan			0	0
Nonperforming financial instruments
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonperforming loans on nonaccrual status with no allowance	$ 403		$ 403
Real estate — residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivable, modifications, subsequent default, recorded investment			$ 63		$ 97

Asset Quality - Commerical Cred

Asset Quality - Commerical Credit Exposure (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 106,159	$ 94,646
Accrued interest	225	244
Commercial Loans
Financing Receivable, Credit Quality Indicator [Line Items]
2020	13,839
2019	11,659
2018	8,626
2017	5,486
2016	3,915
Prior	9,160
Revolving Loans Amortized Cost Basis	25,315
Revolving Loans Converted to Term Loans Amortized Cost Basis	205
Total	78,205	68,032
Accrued interest	121
Commercial Loans | Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
2020	12,038
2019	6,458
2018	5,196
2017	3,485
2016	2,501
Prior	4,223
Revolving Loans Amortized Cost Basis	24,237
Revolving Loans Converted to Term Loans Amortized Cost Basis	159
Total	58,297	48,295
Commercial Loans | Commercial and industrial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2020	12,011
2019	6,386
2018	5,004
2017	3,290
2016	2,393
Prior	3,996
Revolving Loans Amortized Cost Basis	22,395
Revolving Loans Converted to Term Loans Amortized Cost Basis	141
Total	55,616
Commercial Loans | Commercial and industrial | Criticized (Accruing)
Financing Receivable, Credit Quality Indicator [Line Items]
2020	24
2019	60
2018	164
2017	164
2016	70
Prior	169
Revolving Loans Amortized Cost Basis	1,608
Revolving Loans Converted to Term Loans Amortized Cost Basis	18
Total	2,277
Commercial Loans | Commercial and industrial | Criticized (Nonaccruing)
Financing Receivable, Credit Quality Indicator [Line Items]
2020	3
2019	12
2018	28
2017	31
2016	38
Prior	58
Revolving Loans Amortized Cost Basis	234
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	404
Commercial Loans | Commercial mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
2020	1,087
2019	3,311
2018	1,985
2017	1,108
2016	1,001
Prior	3,871
Revolving Loans Amortized Cost Basis	1,059
Revolving Loans Converted to Term Loans Amortized Cost Basis	43
Total	13,465	13,491
Commercial Loans | Commercial mortgage | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2020	1,087
2019	3,303
2018	1,955
2017	1,040
2016	963
Prior	3,600
Revolving Loans Amortized Cost Basis	1,039
Revolving Loans Converted to Term Loans Amortized Cost Basis	37
Total	13,024
Commercial Loans | Commercial mortgage | Criticized (Accruing)
Financing Receivable, Credit Quality Indicator [Line Items]
2020	0
2019	8
2018	29
2017	65
2016	34
Prior	193
Revolving Loans Amortized Cost Basis	16
Revolving Loans Converted to Term Loans Amortized Cost Basis	5
Total	350
Commercial Loans | Commercial mortgage | Criticized (Nonaccruing)
Financing Receivable, Credit Quality Indicator [Line Items]
2020	0
2019	0
2018	1
2017	3
2016	4
Prior	78
Revolving Loans Amortized Cost Basis	4
Revolving Loans Converted to Term Loans Amortized Cost Basis	1
Total	91
Commercial Loans | Real estate — construction
Financing Receivable, Credit Quality Indicator [Line Items]
2020	205
2019	607
2018	729
2017	239
2016	92
Prior	25
Revolving Loans Amortized Cost Basis	19
Revolving Loans Converted to Term Loans Amortized Cost Basis	3
Total	1,919	1,558
Commercial Loans | Real estate — construction | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2020	205
2019	603
2018	721
2017	239
2016	68
Prior	21
Revolving Loans Amortized Cost Basis	18
Revolving Loans Converted to Term Loans Amortized Cost Basis	3
Total	1,878
Commercial Loans | Real estate — construction | Criticized (Accruing)
Financing Receivable, Credit Quality Indicator [Line Items]
2020	0
2019	4
2018	8
2017	0
2016	24
Prior	3
Revolving Loans Amortized Cost Basis	1
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	40
Commercial Loans | Real estate — construction | Criticized (Nonaccruing)
Financing Receivable, Credit Quality Indicator [Line Items]
2020	0
2019	0
2018	0
2017	0
Prior	1
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	1
Commercial Loans | Commercial lease financing
Financing Receivable, Credit Quality Indicator [Line Items]
2020	509
2019	1,283
2018	716
2017	654
2016	321
Prior	1,041
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	4,524	$ 4,688
Commercial Loans | Commercial lease financing | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2020	503
2019	1,275
2018	702
2017	640
2016	307
Prior	1,030
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	4,457
Commercial Loans | Commercial lease financing | Criticized (Accruing)
Financing Receivable, Credit Quality Indicator [Line Items]
2020	6
2019	8
2018	12
2017	11
2016	10
Prior	11
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	58
Commercial Loans | Commercial lease financing | Criticized (Nonaccruing)
Financing Receivable, Credit Quality Indicator [Line Items]
2020	0
2019	0
2018	2
2017	3
2016	4
Prior	0
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	$ 9

Asset Quality Asset Quality - C

Asset Quality Asset Quality - Consumer Credit Exposure (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 106,159	$ 94,646
Accrued interest	225	244
Consumer Loans
Financing Receivable, Credit Quality Indicator [Line Items]
2020	5,026
2019	6,727
2018	1,955
2017	1,353
2016	1,405
Prior	4,014
Revolving Loans Amortized Cost Basis	6,805
Revolving Loans Converted to Term Loans Amortized Cost Basis	669
Total	27,954	26,614
Accrued interest	104
Consumer Loans | Real estate — residential mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
2020	2,046
2019	2,308
2018	417
2017	406
2016	797
Prior	2,175
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	8,149	7,023
Consumer Loans | Real estate — residential mortgage | FICO Score, 750 and above
Financing Receivable, Credit Quality Indicator [Line Items]
2020	1,681
2019	1,878
2018	294
2017	320
2016	648
Prior	1,523
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	6,344
Consumer Loans | Real estate — residential mortgage | FICO Score, 660 to 749
Financing Receivable, Credit Quality Indicator [Line Items]
2020	348
2019	398
2018	96
2017	67
2016	115
Prior	402
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	1,426
Consumer Loans | Real estate — residential mortgage | FICO Score, Less than 660
Financing Receivable, Credit Quality Indicator [Line Items]
2020	17
2019	30
2018	24
2017	12
2016	32
Prior	193
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	308
Consumer Loans | Real estate — residential mortgage | FICO Score, No Score
Financing Receivable, Credit Quality Indicator [Line Items]
2020	0
2019	2
2018	3
2017	7
2016	2
Prior	57
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	71
Consumer Loans | Home equity loans
Financing Receivable, Credit Quality Indicator [Line Items]
2020	583
2019	781
2018	348
2017	378
2016	349
Prior	1,496
Revolving Loans Amortized Cost Basis	5,178
Revolving Loans Converted to Term Loans Amortized Cost Basis	669
Total	9,782	10,274
Consumer Loans | Home equity loans | FICO Score, 750 and above
Financing Receivable, Credit Quality Indicator [Line Items]
2020	386
2019	450
2018	190
2017	217
2016	206
Prior	901
Revolving Loans Amortized Cost Basis	2,809
Revolving Loans Converted to Term Loans Amortized Cost Basis	406
Total	5,565
Consumer Loans | Home equity loans | FICO Score, 660 to 749
Financing Receivable, Credit Quality Indicator [Line Items]
2020	176
2019	275
2018	125
2017	129
2016	106
Prior	428
Revolving Loans Amortized Cost Basis	1,760
Revolving Loans Converted to Term Loans Amortized Cost Basis	196
Total	3,195
Consumer Loans | Home equity loans | FICO Score, Less than 660
Financing Receivable, Credit Quality Indicator [Line Items]
2020	19
2019	54
2018	32
2017	32
2016	37
Prior	164
Revolving Loans Amortized Cost Basis	604
Revolving Loans Converted to Term Loans Amortized Cost Basis	65
Total	1,007
Consumer Loans | Home equity loans | FICO Score, No Score
Financing Receivable, Credit Quality Indicator [Line Items]
2020	2
2019	2
2018	1
2017	0
2016	0
Prior	3
Revolving Loans Amortized Cost Basis	5
Revolving Loans Converted to Term Loans Amortized Cost Basis	2
Total	15
Consumer Loans | Consumer direct loans
Financing Receivable, Credit Quality Indicator [Line Items]
2020	1,420
2019	1,657
2018	301
2017	104
2016	58
Prior	134
Revolving Loans Amortized Cost Basis	653
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	4,327	3,513
Consumer Loans | Consumer direct loans | FICO Score, 750 and above
Financing Receivable, Credit Quality Indicator [Line Items]
2020	1,113
2019	1,214
2018	146
2017	44
2016	24
Prior	69
Revolving Loans Amortized Cost Basis	127
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	2,737
Consumer Loans | Consumer direct loans | FICO Score, 660 to 749
Financing Receivable, Credit Quality Indicator [Line Items]
2020	274
2019	351
2018	101
2017	32
2016	18
Prior	39
Revolving Loans Amortized Cost Basis	270
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	1,085
Consumer Loans | Consumer direct loans | FICO Score, Less than 660
Financing Receivable, Credit Quality Indicator [Line Items]
2020	10
2019	43
2018	28
2017	11
2016	7
Prior	13
Revolving Loans Amortized Cost Basis	98
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	210
Consumer Loans | Consumer direct loans | FICO Score, No Score
Financing Receivable, Credit Quality Indicator [Line Items]
2020	23
2019	49
2018	26
2017	17
2016	9
Prior	13
Revolving Loans Amortized Cost Basis	158
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	295
Consumer Loans | Credit cards
Financing Receivable, Credit Quality Indicator [Line Items]
2020	0
2019	0
2018	0
2017	0
2016	0
Prior	0
Revolving Loans Amortized Cost Basis	974
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	974	1,130
Consumer Loans | Credit cards | FICO Score, 750 and above
Financing Receivable, Credit Quality Indicator [Line Items]
2020	0
2019	0
2018	0
2017	0
2016	0
Prior	0
Revolving Loans Amortized Cost Basis	450
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	450
Consumer Loans | Credit cards | FICO Score, 660 to 749
Financing Receivable, Credit Quality Indicator [Line Items]
2020	0
2019	0
2018	0
2017	0
2016	0
Prior	0
Revolving Loans Amortized Cost Basis	416
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	416
Consumer Loans | Credit cards | FICO Score, Less than 660
Financing Receivable, Credit Quality Indicator [Line Items]
2020	0
2019	0
2018	0
2017	0
2016	0
Prior	0
Revolving Loans Amortized Cost Basis	107
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	107
Consumer Loans | Credit cards | FICO Score, No Score
Financing Receivable, Credit Quality Indicator [Line Items]
2020	0
2019	0
2018	0
2017	0
2016	0
Prior	0
Revolving Loans Amortized Cost Basis	1
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	1
Consumer Loans | Consumer indirect loans
Financing Receivable, Credit Quality Indicator [Line Items]
2020	977
2019	1,981
2018	889
2017	465
2016	201
Prior	209
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	4,722	$ 4,674
Consumer Loans | Consumer indirect loans | FICO Score, 750 and above
Financing Receivable, Credit Quality Indicator [Line Items]
2020	557
2019	1,056
2018	457
2017	254
2016	107
Prior	97
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	2,528
Consumer Loans | Consumer indirect loans | FICO Score, 660 to 749
Financing Receivable, Credit Quality Indicator [Line Items]
2020	336
2019	717
2018	303
2017	137
2016	57
Prior	73
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	1,623
Consumer Loans | Consumer indirect loans | FICO Score, Less than 660
Financing Receivable, Credit Quality Indicator [Line Items]
2020	69
2019	208
2018	129
2017	74
2016	37
Prior	39
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	556
Consumer Loans | Consumer indirect loans | FICO Score, No Score
Financing Receivable, Credit Quality Indicator [Line Items]
2020	15
2019	0
2018	0
2017	0
2016	0
Prior	0
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0
Total	$ 15

Asset Quality - Aging Analysis

Asset Quality - Aging Analysis of Past Due and Current Loans (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Current	$ 104,893	$ 93,197
Days Past Due	1,266	1,003
Purchased Credit Impaired		446
Total	106,159	94,646
Accrued interest	225	244
Commercial Loans
Financing Receivable, Past Due [Line Items]
Current	77,316	67,224
Days Past Due	889	635
Purchased Credit Impaired		173
Total	78,205	68,032
Accrued interest	121
Consumer Loans
Financing Receivable, Past Due [Line Items]
Current	27,577	25,973
Days Past Due	377	368
Purchased Credit Impaired		273
Total	27,954	26,614
Accrued interest	104
Commercial and industrial | Commercial Loans
Financing Receivable, Past Due [Line Items]
Current	57,659	47,768
Days Past Due	638	479
Purchased Credit Impaired		48
Total	58,297	48,295
Commercial mortgage | Commercial Loans
Financing Receivable, Past Due [Line Items]
Current	13,269	13,258
Days Past Due	196	109
Purchased Credit Impaired		124
Total	13,465	13,491
Commercial real estate: Construction | Commercial Loans
Financing Receivable, Past Due [Line Items]
Current	1,916	1,551
Days Past Due	3	6
Purchased Credit Impaired		1
Total	1,919	1,558
Commercial real estate loans | Commercial Loans
Financing Receivable, Past Due [Line Items]
Current	15,185	14,809
Days Past Due	199	115
Purchased Credit Impaired		125
Total	15,384	15,049
Commercial lease financing | Commercial Loans
Financing Receivable, Past Due [Line Items]
Current	4,472	4,647
Days Past Due	52	41
Purchased Credit Impaired		0
Total	4,524	4,688
Real estate — residential mortgage | Consumer Loans
Financing Receivable, Past Due [Line Items]
Current	8,039	6,705
Days Past Due	110	61
Purchased Credit Impaired		257
Total	8,149	7,023
Home equity loans | Consumer Loans
Financing Receivable, Past Due [Line Items]
Current	9,592	10,071
Days Past Due	190	190
Purchased Credit Impaired		13
Total	9,782	10,274
Consumer direct loans | Consumer Loans
Financing Receivable, Past Due [Line Items]
Current	4,306	3,484
Days Past Due	21	26
Purchased Credit Impaired		3
Total	4,327	3,513
Credit cards | Commercial Loans
Financing Receivable, Past Due [Line Items]
Total	132	144
Credit cards | Consumer Loans
Financing Receivable, Past Due [Line Items]
Current	957	1,104
Days Past Due	17	26
Purchased Credit Impaired		0
Total	974	1,130
Consumer indirect loans | Consumer Loans
Financing Receivable, Past Due [Line Items]
Current	4,683	4,609
Days Past Due	39	65
Purchased Credit Impaired		0
Total	4,722	4,674
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Days Past Due	280	228
30-59 Days Past Due | Commercial Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	208	143
30-59 Days Past Due | Consumer Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	72	85
30-59 Days Past Due | Commercial and industrial | Commercial Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	116	110
30-59 Days Past Due | Commercial mortgage | Commercial Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	52	8
30-59 Days Past Due | Commercial real estate: Construction | Commercial Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	0	3
30-59 Days Past Due | Commercial real estate loans | Commercial Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	52	11
30-59 Days Past Due | Commercial lease financing | Commercial Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	40	22
30-59 Days Past Due | Real estate — residential mortgage | Consumer Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	16	7
30-59 Days Past Due | Home equity loans | Consumer Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	31	30
30-59 Days Past Due | Consumer direct loans | Consumer Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	9	10
30-59 Days Past Due | Credit cards | Consumer Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	3	6
30-59 Days Past Due | Consumer indirect loans | Consumer Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	13	32
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Days Past Due	139	101
60-89 Days Past Due | Commercial Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	112	68
60-89 Days Past Due | Consumer Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	27	33
60-89 Days Past Due | Commercial and industrial | Commercial Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	71	52
60-89 Days Past Due | Commercial mortgage | Commercial Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	41	5
60-89 Days Past Due | Commercial real estate: Construction | Commercial Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	0	0
60-89 Days Past Due | Commercial real estate loans | Commercial Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	41	5
60-89 Days Past Due | Commercial lease financing | Commercial Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	0	11
60-89 Days Past Due | Real estate — residential mortgage | Consumer Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	5	5
60-89 Days Past Due | Home equity loans | Consumer Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	12	10
60-89 Days Past Due | Consumer direct loans | Consumer Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	4	5
60-89 Days Past Due | Credit cards | Consumer Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	3	5
60-89 Days Past Due | Consumer indirect loans | Consumer Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	3	8
90 and Greater Days Past Due
Financing Receivable, Past Due [Line Items]
Days Past Due	87	97
90 and Greater Days Past Due | Commercial Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	64	69
90 and Greater Days Past Due | Consumer Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	23	28
90 and Greater Days Past Due | Commercial and industrial | Commercial Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	47	53
90 and Greater Days Past Due | Commercial mortgage | Commercial Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	12	13
90 and Greater Days Past Due | Commercial real estate: Construction | Commercial Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	2	1
90 and Greater Days Past Due | Commercial real estate loans | Commercial Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	14	14
90 and Greater Days Past Due | Commercial lease financing | Commercial Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	3	2
90 and Greater Days Past Due | Real estate — residential mortgage | Consumer Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	0	1
90 and Greater Days Past Due | Home equity loans | Consumer Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	6	5
90 and Greater Days Past Due | Consumer direct loans | Consumer Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	5	7
90 and Greater Days Past Due | Credit cards | Consumer Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	9	12
90 and Greater Days Past Due | Consumer indirect loans | Consumer Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	3	3
Nonperforming financial instruments
Financing Receivable, Past Due [Line Items]
Days Past Due	760	577
Nonperforming financial instruments | Commercial Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	505	355
Nonperforming financial instruments | Consumer Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	255	222
Nonperforming financial instruments | Commercial and industrial | Commercial Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	404	264
Nonperforming financial instruments | Commercial mortgage | Commercial Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	91	83
Nonperforming financial instruments | Commercial real estate: Construction | Commercial Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	1	2
Nonperforming financial instruments | Commercial real estate loans | Commercial Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	92	85
Nonperforming financial instruments | Commercial lease financing | Commercial Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	9	6
Nonperforming financial instruments | Real estate — residential mortgage | Consumer Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	89	48
Nonperforming financial instruments | Home equity loans | Consumer Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	141	145
Nonperforming financial instruments | Consumer direct loans | Consumer Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	3	4
Nonperforming financial instruments | Credit cards | Consumer Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	2	3
Nonperforming financial instruments | Consumer indirect loans | Consumer Loans
Financing Receivable, Past Due [Line Items]
Days Past Due	$ 20	$ 22

Asset Quality - Post-Modificati

Asset Quality - Post-Modification Outstanding Recorded Investment by Concession Type for Our Commercial Accruing and Nonaccruing TDRs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total commercial and consumer TDRs	$ 18	$ 48	$ 34	$ 59
Commercial Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Extension of Maturity Date	8	6	8	6
Payment or Covenant Modification/Deferment	0	18	0	18
Bankruptcy Plan Modification	0	11	0	11
Increase in new commitment or new money	4	0	4	0
Total	12	35	12	35
Consumer Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest rate reduction	1	4	9	8
Other	5	9	13	16
Total	$ 6	$ 13	$ 22	$ 24

Asset Quality - Summary of Post

Asset Quality - Summary of Post-Modification Outstanding Recorded Investment TDRs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Financing Receivables, Modifications, Rollforward [Roll Forward]
Balance at beginning of the period	$ 340	$ 365	$ 347	$ 399
Additions	22	54	39	68
Payments	(35)	(19)	(53)	(58)
Charge-offs	(17)	(5)	(23)	(14)
Balance at end of period	$ 310	$ 395	$ 310	$ 395

Asset Quality - Breakdown of No

Asset Quality - Breakdown of Nonperforming TDRs by Loans Category (Details) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2020USD ($)SecurityLoan	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)SecurityLoan
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | SecurityLoan	6,154		6,212
Pre-modification Outstanding Recorded Investment	$ 382		$ 425
Post-modification Outstanding Recorded Investment	$ 310		$ 347
Prior-Year accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | SecurityLoan	3,968		3,590
Pre-modification Outstanding Recorded Investment	$ 188		$ 211
Post-modification Outstanding Recorded Investment	$ 144		$ 164
Prior-Year accruing | Commercial Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | SecurityLoan	4		7
Pre-modification Outstanding Recorded Investment	$ 2		$ 30
Post-modification Outstanding Recorded Investment	$ 0		$ 25
Prior-Year accruing | Consumer Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | SecurityLoan	3,964		3,583
Pre-modification Outstanding Recorded Investment	$ 186		$ 181
Post-modification Outstanding Recorded Investment	$ 144		$ 139
Nonperforming financial instruments
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | SecurityLoan	2,186		2,622
Pre-modification Outstanding Recorded Investment	$ 194		$ 214
Post-modification Outstanding Recorded Investment	$ 166		$ 183
Nonperforming financial instruments | Commercial Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | SecurityLoan	58		57
Pre-modification Outstanding Recorded Investment	$ 122		$ 136
Post-modification Outstanding Recorded Investment	$ 101		$ 111
Nonperforming financial instruments | Consumer Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | SecurityLoan	2,128		2,565
Pre-modification Outstanding Recorded Investment	$ 72		$ 78
Post-modification Outstanding Recorded Investment	$ 65		$ 72
Commercial and industrial | Prior-Year accruing | Commercial Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | SecurityLoan	3		6
Pre-modification Outstanding Recorded Investment	$ 2		$ 30
Post-modification Outstanding Recorded Investment	$ 0		$ 25
Commercial and industrial | Nonperforming financial instruments | Commercial Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | SecurityLoan	50		51
Pre-modification Outstanding Recorded Investment	$ 57		$ 72
Post-modification Outstanding Recorded Investment	$ 43		$ 53
Commercial mortgage | Prior-Year accruing | Commercial Real Estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | SecurityLoan	1		1
Pre-modification Outstanding Recorded Investment	$ 0		$ 0
Post-modification Outstanding Recorded Investment	$ 0	$ 0
Commercial mortgage | Nonperforming financial instruments | Commercial Real Estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | SecurityLoan	8		6
Pre-modification Outstanding Recorded Investment	$ 65		$ 64
Post-modification Outstanding Recorded Investment	$ 58	$ 58
Commercial real estate loans | Prior-Year accruing | Commercial Real Estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | SecurityLoan	1		1
Pre-modification Outstanding Recorded Investment	$ 0		$ 0
Post-modification Outstanding Recorded Investment	$ 0		$ 0
Commercial real estate loans | Nonperforming financial instruments | Commercial Real Estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | SecurityLoan	8		6
Pre-modification Outstanding Recorded Investment	$ 65		$ 64
Post-modification Outstanding Recorded Investment	$ 58		$ 58
Real estate — residential mortgage | Prior-Year accruing | Consumer Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | SecurityLoan	487		493
Pre-modification Outstanding Recorded Investment	$ 36		$ 37
Post-modification Outstanding Recorded Investment	$ 30		$ 31
Real estate — residential mortgage | Nonperforming financial instruments | Consumer Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | SecurityLoan	191		181
Pre-modification Outstanding Recorded Investment	$ 16		$ 13
Post-modification Outstanding Recorded Investment	$ 14		$ 11
Home equity loans | Prior-Year accruing | Consumer Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | SecurityLoan	1,872		1,751
Pre-modification Outstanding Recorded Investment	$ 111		$ 104
Post-modification Outstanding Recorded Investment	$ 91		$ 84
Home equity loans | Nonperforming financial instruments | Consumer Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | SecurityLoan	574		713
Pre-modification Outstanding Recorded Investment	$ 36		$ 42
Post-modification Outstanding Recorded Investment	$ 34		$ 41
Consumer direct loans | Prior-Year accruing | Consumer Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | SecurityLoan	183		139
Pre-modification Outstanding Recorded Investment	$ 4		$ 4
Post-modification Outstanding Recorded Investment	$ 3		$ 3
Consumer direct loans | Nonperforming financial instruments | Consumer Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | SecurityLoan	134		172
Pre-modification Outstanding Recorded Investment	$ 2		$ 2
Post-modification Outstanding Recorded Investment	$ 2		$ 2
Credit cards | Prior-Year accruing | Consumer Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | SecurityLoan	602		486
Pre-modification Outstanding Recorded Investment	$ 4		$ 3
Post-modification Outstanding Recorded Investment	$ 2		$ 1
Credit cards | Nonperforming financial instruments | Consumer Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | SecurityLoan	290		368
Pre-modification Outstanding Recorded Investment	$ 2		$ 2
Post-modification Outstanding Recorded Investment	$ 2		$ 2
Consumer indirect loans | Prior-Year accruing | Consumer Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | SecurityLoan	820		714
Pre-modification Outstanding Recorded Investment	$ 31		$ 33
Post-modification Outstanding Recorded Investment	$ 18		$ 20
Consumer indirect loans | Nonperforming financial instruments | Consumer Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | SecurityLoan	939		1,131
Pre-modification Outstanding Recorded Investment	$ 16		$ 19
Post-modification Outstanding Recorded Investment	$ 13		$ 16

Asset Quality - Changes in Liab

Asset Quality - Changes in Liability for Credit Losses on Lending Related Commitments (Details) - USD ($) $ in Millions	Jan. 01, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Balance at the end of the prior period	$ 68	$ 161	$ 62	$ 68	$ 64
Liability for credit losses on contingent guarantees at the end of the prior period						$ 0	$ 7	$ 0	$ 0
Cumulative effect from changes in accounting principle	66
Balance at beginning of period	141	198	64	198	64	$ 161	$ 68	$ 62	$ 64
Provision (credit) for losses on off balance sheet exposures		37	2	57	0
Balance at end of period	141	$ 198	$ 64	$ 198	$ 64
Other Financial Assets
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Cumulative effect from changes in accounting principle	$ 4

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Assets and Liabilities Measured on Recurring Basis (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019
ASSETS MEASURED ON A RECURRING BASIS
Total trading account securities	$ 645,000,000	$ 1,040,000,000
Securities available for sale	23,600,000,000	21,843,000,000
Loans, net of unearned income (residential)	106,159,000,000	94,646,000,000
Loans held for sale (residential)		0
Derivative assets, netting adjustments	(609,000,000)		$ (473,000,000)
Total derivative assets	2,093,000,000	780,000,000
LIABILITIES MEASURED ON A RECURRING BASIS
Derivative liabilities, netting adjustments	(629,000,000)		$ (335,000,000)
U.S. Treasury, agencies and corporations
ASSETS MEASURED ON A RECURRING BASIS
Securities available for sale	3,465,000,000	334,000,000
States and political subdivisions
ASSETS MEASURED ON A RECURRING BASIS
Securities available for sale	4,000,000	4,000,000
Other securities
ASSETS MEASURED ON A RECURRING BASIS
Securities available for sale	12,000,000	11,000,000
Agency residential mortgage-backed securities
ASSETS MEASURED ON A RECURRING BASIS
Securities available for sale	1,445,000,000	1,714,000,000
Equity Investments, Direct
ASSETS MEASURED ON A RECURRING BASIS
Total other investments	12,000,000
Mortgage-backed securities | Agency commercial mortgage-backed securities
ASSETS MEASURED ON A RECURRING BASIS
Securities available for sale	6,727,000,000	6,997,000,000
Other
ASSETS MEASURED ON A RECURRING BASIS
Derivative assets, gross	46,000,000
Recurring
ASSETS MEASURED ON A RECURRING BASIS
Total trading account securities	636,000,000	995,000,000
Commercial loans	9,000,000	45,000,000
Total trading account assets	645,000,000	1,040,000,000
Securities available for sale	23,600,000,000	21,843,000,000
Total other investments	78,000,000	90,000,000
Loans, net of unearned income (residential)	5,000,000	4,000,000
Loans held for sale (residential)	250,000,000	140,000,000
Derivative assets, gross	2,702,000,000	1,253,000,000
Derivative assets, netting adjustments	(609,000,000)	(473,000,000)
Total derivative assets	2,093,000,000	780,000,000
Accrued income and other assets	0	0
Total assets at fair value	26,671,000,000	23,897,000,000
LIABILITIES MEASURED ON A RECURRING BASIS
Total liabilities on a recurring basis at fair value	1,025,000,000	903,000,000
Recurring | U.S. Treasury, agencies and corporations
ASSETS MEASURED ON A RECURRING BASIS
Total trading account securities	531,000,000	843,000,000
Securities available for sale	3,465,000,000	334,000,000
Recurring | States and political subdivisions
ASSETS MEASURED ON A RECURRING BASIS
Total trading account securities	40,000,000	30,000,000
Securities available for sale	4,000,000	4,000,000
Recurring | Other securities
ASSETS MEASURED ON A RECURRING BASIS
Total trading account securities	13,000,000	44,000,000
Securities available for sale	12,000,000	11,000,000
Recurring | Agency commercial mortgage-backed securities
ASSETS MEASURED ON A RECURRING BASIS
Securities available for sale	6,727,000,000	6,997,000,000
Recurring | Principal investments, Direct
ASSETS MEASURED ON A RECURRING BASIS
Total other investments	1,000,000	1,000,000
Recurring | Principal Investments
ASSETS MEASURED ON A RECURRING BASIS
Total other investments	57,000,000	69,000,000
Recurring | Equity Investments, Direct
ASSETS MEASURED ON A RECURRING BASIS
Total other investments	12,000,000	12,000,000
Recurring | Equity Investments
ASSETS MEASURED ON A RECURRING BASIS
Total other investments	21,000,000	21,000,000
Recurring | Mortgage-backed securities
ASSETS MEASURED ON A RECURRING BASIS
Total trading account securities	52,000,000	78,000,000
Recurring | Mortgage-backed securities | Agency residential mortgage-backed securities
ASSETS MEASURED ON A RECURRING BASIS
Securities available for sale	1,445,000,000	1,714,000,000
Recurring | Short positions
LIABILITIES MEASURED ON A RECURRING BASIS
Short positions	715,000,000	705,000,000
Recurring | Long positions
LIABILITIES MEASURED ON A RECURRING BASIS
Derivative liabilities, gross	939,000,000	533,000,000
Derivative liabilities, netting adjustments	(629,000,000)	(335,000,000)
Total derivative liabilities	310,000,000	198,000,000
Recurring | Interest rate
ASSETS MEASURED ON A RECURRING BASIS
Derivative assets, gross	2,020,000,000	963,000,000
Recurring | Interest rate | Long positions
LIABILITIES MEASURED ON A RECURRING BASIS
Derivative liabilities, gross	337,000,000	253,000,000
Recurring | Foreign exchange
ASSETS MEASURED ON A RECURRING BASIS
Derivative assets, gross	108,000,000	67,000,000
Recurring | Foreign exchange | Long positions
LIABILITIES MEASURED ON A RECURRING BASIS
Derivative liabilities, gross	97,000,000	60,000,000
Recurring | Commodity
ASSETS MEASURED ON A RECURRING BASIS
Derivative assets, gross	487,000,000	208,000,000
Recurring | Commodity | Long positions
LIABILITIES MEASURED ON A RECURRING BASIS
Derivative liabilities, gross	462,000,000	200,000,000
Recurring | Credit
ASSETS MEASURED ON A RECURRING BASIS
Derivative assets, gross	4,000,000	1,000,000
Recurring | Credit | Long positions
LIABILITIES MEASURED ON A RECURRING BASIS
Derivative liabilities, gross	20,000,000	10,000,000
Recurring | Other
ASSETS MEASURED ON A RECURRING BASIS
Derivative assets, gross	83,000,000	14,000,000
Recurring | Other | Long positions
LIABILITIES MEASURED ON A RECURRING BASIS
Derivative liabilities, gross	23,000,000	10,000,000
Level 1 | Recurring
ASSETS MEASURED ON A RECURRING BASIS
Total trading account securities	0	0
Commercial loans	0	0
Total trading account assets	0	0
Securities available for sale	0	0
Total other investments	0	0
Loans, net of unearned income (residential)	0	0
Loans held for sale (residential)	0	0
Derivative assets, gross	79,000,000	49,000,000
Derivative assets, netting adjustments	0	0
Total derivative assets	79,000,000	49,000,000
Accrued income and other assets	0	0
Total assets at fair value	79,000,000	49,000,000
LIABILITIES MEASURED ON A RECURRING BASIS
Total liabilities on a recurring basis at fair value	354,000,000	62,000,000
Level 1 | Recurring | U.S. Treasury, agencies and corporations
ASSETS MEASURED ON A RECURRING BASIS
Total trading account securities	0	0
Securities available for sale	0	0
Level 1 | Recurring | States and political subdivisions
ASSETS MEASURED ON A RECURRING BASIS
Total trading account securities	0	0
Securities available for sale	0	0
Level 1 | Recurring | Other securities
ASSETS MEASURED ON A RECURRING BASIS
Total trading account securities	0	0
Securities available for sale	0	0
Level 1 | Recurring | Agency commercial mortgage-backed securities
ASSETS MEASURED ON A RECURRING BASIS
Securities available for sale	0	0
Level 1 | Recurring | Principal investments, Direct
ASSETS MEASURED ON A RECURRING BASIS
Total other investments	0	0
Level 1 | Recurring | Principal Investments
ASSETS MEASURED ON A RECURRING BASIS
Total other investments	0	0
Level 1 | Recurring | Equity Investments, Direct
ASSETS MEASURED ON A RECURRING BASIS
Total other investments	0	0
Level 1 | Recurring | Equity Investments
ASSETS MEASURED ON A RECURRING BASIS
Total other investments	0	0
Level 1 | Recurring | Mortgage-backed securities
ASSETS MEASURED ON A RECURRING BASIS
Total trading account securities	0	0
Level 1 | Recurring | Mortgage-backed securities | Agency residential mortgage-backed securities
ASSETS MEASURED ON A RECURRING BASIS
Securities available for sale	0	0
Level 1 | Recurring | Short positions
LIABILITIES MEASURED ON A RECURRING BASIS
Short positions	285,000,000	19,000,000
Level 1 | Recurring | Long positions
LIABILITIES MEASURED ON A RECURRING BASIS
Derivative liabilities, gross	69,000,000	43,000,000
Derivative liabilities, netting adjustments	0	0
Total derivative liabilities	69,000,000	43,000,000
Level 1 | Recurring | Interest rate
ASSETS MEASURED ON A RECURRING BASIS
Derivative assets, gross	0	0
Level 1 | Recurring | Interest rate | Long positions
LIABILITIES MEASURED ON A RECURRING BASIS
Derivative liabilities, gross	0	0
Level 1 | Recurring | Foreign exchange
ASSETS MEASURED ON A RECURRING BASIS
Derivative assets, gross	79,000,000	49,000,000
Level 1 | Recurring | Foreign exchange | Long positions
LIABILITIES MEASURED ON A RECURRING BASIS
Derivative liabilities, gross	69,000,000	43,000,000
Level 1 | Recurring | Commodity
ASSETS MEASURED ON A RECURRING BASIS
Derivative assets, gross	0	0
Level 1 | Recurring | Commodity | Long positions
LIABILITIES MEASURED ON A RECURRING BASIS
Derivative liabilities, gross	0	0
Level 1 | Recurring | Credit
ASSETS MEASURED ON A RECURRING BASIS
Derivative assets, gross	0	0
Level 1 | Recurring | Credit | Long positions
LIABILITIES MEASURED ON A RECURRING BASIS
Derivative liabilities, gross	0	0
Level 1 | Recurring | Other
ASSETS MEASURED ON A RECURRING BASIS
Derivative assets, gross	0	0
Level 1 | Recurring | Other | Long positions
LIABILITIES MEASURED ON A RECURRING BASIS
Derivative liabilities, gross	0	0
Level 2 | Recurring
ASSETS MEASURED ON A RECURRING BASIS
Total trading account securities	600,000,000	995,000,000
Commercial loans	9,000,000	45,000,000
Total trading account assets	609,000,000	1,040,000,000
Securities available for sale	23,588,000,000	21,832,000,000
Total other investments	0	0
Loans, net of unearned income (residential)	0	0
Loans held for sale (residential)	250,000,000	140,000,000
Derivative assets, gross	2,522,000,000	1,176,000,000
Derivative assets, netting adjustments	0	0
Total derivative assets	2,522,000,000	1,176,000,000
Accrued income and other assets	0	0
Total assets at fair value	26,969,000,000	24,188,000,000
LIABILITIES MEASURED ON A RECURRING BASIS
Total liabilities on a recurring basis at fair value	1,280,000,000	1,167,000,000
Level 2 | Recurring | U.S. Treasury, agencies and corporations
ASSETS MEASURED ON A RECURRING BASIS
Total trading account securities	531,000,000	843,000,000
Securities available for sale	3,465,000,000	334,000,000
Level 2 | Recurring | States and political subdivisions
ASSETS MEASURED ON A RECURRING BASIS
Total trading account securities	40,000,000	30,000,000
Securities available for sale	4,000,000	4,000,000
Level 2 | Recurring | Other securities
ASSETS MEASURED ON A RECURRING BASIS
Total trading account securities	13,000,000	44,000,000
Securities available for sale	0	0
Level 2 | Recurring | Agency commercial mortgage-backed securities
ASSETS MEASURED ON A RECURRING BASIS
Securities available for sale	6,727,000,000	6,997,000,000
Level 2 | Recurring | Principal investments, Direct
ASSETS MEASURED ON A RECURRING BASIS
Total other investments	0	0
Level 2 | Recurring | Principal Investments
ASSETS MEASURED ON A RECURRING BASIS
Total other investments	0	0
Level 2 | Recurring | Equity Investments, Direct
ASSETS MEASURED ON A RECURRING BASIS
Total other investments	0	0
Level 2 | Recurring | Equity Investments
ASSETS MEASURED ON A RECURRING BASIS
Total other investments	0	0
Level 2 | Recurring | Mortgage-backed securities
ASSETS MEASURED ON A RECURRING BASIS
Total trading account securities	16,000,000	78,000,000
Level 2 | Recurring | Mortgage-backed securities | Agency residential mortgage-backed securities
ASSETS MEASURED ON A RECURRING BASIS
Securities available for sale	1,445,000,000	1,714,000,000
Level 2 | Recurring | Short positions
LIABILITIES MEASURED ON A RECURRING BASIS
Short positions	430,000,000	686,000,000
Level 2 | Recurring | Long positions
LIABILITIES MEASURED ON A RECURRING BASIS
Derivative liabilities, gross	850,000,000	481,000,000
Derivative liabilities, netting adjustments	0	0
Total derivative liabilities	850,000,000	481,000,000
Level 2 | Recurring | Interest rate
ASSETS MEASURED ON A RECURRING BASIS
Derivative assets, gross	1,968,000,000	941,000,000
Level 2 | Recurring | Interest rate | Long positions
LIABILITIES MEASURED ON A RECURRING BASIS
Derivative liabilities, gross	337,000,000	253,000,000
Level 2 | Recurring | Foreign exchange
ASSETS MEASURED ON A RECURRING BASIS
Derivative assets, gross	29,000,000	18,000,000
Level 2 | Recurring | Foreign exchange | Long positions
LIABILITIES MEASURED ON A RECURRING BASIS
Derivative liabilities, gross	28,000,000	17,000,000
Level 2 | Recurring | Commodity
ASSETS MEASURED ON A RECURRING BASIS
Derivative assets, gross	487,000,000	208,000,000
Level 2 | Recurring | Commodity | Long positions
LIABILITIES MEASURED ON A RECURRING BASIS
Derivative liabilities, gross	462,000,000	200,000,000
Level 2 | Recurring | Credit
ASSETS MEASURED ON A RECURRING BASIS
Derivative assets, gross	1,000,000	0
Level 2 | Recurring | Credit | Long positions
LIABILITIES MEASURED ON A RECURRING BASIS
Derivative liabilities, gross	0	1,000,000
Level 2 | Recurring | Other
ASSETS MEASURED ON A RECURRING BASIS
Derivative assets, gross	37,000,000	9,000,000
Level 2 | Recurring | Other | Long positions
LIABILITIES MEASURED ON A RECURRING BASIS
Derivative liabilities, gross	23,000,000	10,000,000
Level 3 | Recurring
ASSETS MEASURED ON A RECURRING BASIS
Total trading account securities	36,000,000	0
Commercial loans	0	0
Total trading account assets	36,000,000	0
Securities available for sale	12,000,000	11,000,000
Total other investments	13,000,000	13,000,000
Loans, net of unearned income (residential)	5,000,000	4,000,000
Loans held for sale (residential)	0	0
Derivative assets, gross	101,000,000	28,000,000
Derivative assets, netting adjustments	0	0
Total derivative assets	101,000,000	28,000,000
Accrued income and other assets	0	0
Total assets at fair value	167,000,000	56,000,000
LIABILITIES MEASURED ON A RECURRING BASIS
Total liabilities on a recurring basis at fair value	20,000,000	9,000,000
Level 3 | Recurring | U.S. Treasury, agencies and corporations
ASSETS MEASURED ON A RECURRING BASIS
Total trading account securities	0	0
Securities available for sale	0	0
Level 3 | Recurring | States and political subdivisions
ASSETS MEASURED ON A RECURRING BASIS
Total trading account securities	0	0
Securities available for sale	0	0
Level 3 | Recurring | Other securities
ASSETS MEASURED ON A RECURRING BASIS
Total trading account securities	0	0
Securities available for sale	12,000,000	11,000,000
Level 3 | Recurring | Agency commercial mortgage-backed securities
ASSETS MEASURED ON A RECURRING BASIS
Securities available for sale	0	0
Level 3 | Recurring | Principal investments, Direct
ASSETS MEASURED ON A RECURRING BASIS
Total other investments	1,000,000	1,000,000
Level 3 | Recurring | Principal Investments
ASSETS MEASURED ON A RECURRING BASIS
Total other investments	1,000,000	1,000,000
Level 3 | Recurring | Equity Investments, Direct
ASSETS MEASURED ON A RECURRING BASIS
Total other investments		12,000,000
Level 3 | Recurring | Equity Investments
ASSETS MEASURED ON A RECURRING BASIS
Total other investments	12,000,000	12,000,000
Level 3 | Recurring | Mortgage-backed securities
ASSETS MEASURED ON A RECURRING BASIS
Total trading account securities	36,000,000	0
Level 3 | Recurring | Mortgage-backed securities | Agency residential mortgage-backed securities
ASSETS MEASURED ON A RECURRING BASIS
Securities available for sale	0	0
Level 3 | Recurring | Short positions
LIABILITIES MEASURED ON A RECURRING BASIS
Short positions	0	0
Level 3 | Recurring | Long positions
LIABILITIES MEASURED ON A RECURRING BASIS
Derivative liabilities, gross	20,000,000	9,000,000
Derivative liabilities, netting adjustments	0	0
Total derivative liabilities	20,000,000	9,000,000
Level 3 | Recurring | Interest rate
ASSETS MEASURED ON A RECURRING BASIS
Derivative assets, gross	52,000,000	22,000,000
Level 3 | Recurring | Interest rate | Long positions
LIABILITIES MEASURED ON A RECURRING BASIS
Derivative liabilities, gross	0	0
Level 3 | Recurring | Foreign exchange
ASSETS MEASURED ON A RECURRING BASIS
Derivative assets, gross	0	0
Level 3 | Recurring | Foreign exchange | Long positions
LIABILITIES MEASURED ON A RECURRING BASIS
Derivative liabilities, gross	0	0
Level 3 | Recurring | Commodity
ASSETS MEASURED ON A RECURRING BASIS
Derivative assets, gross	0	0
Level 3 | Recurring | Commodity | Long positions
LIABILITIES MEASURED ON A RECURRING BASIS
Derivative liabilities, gross	0	0
Level 3 | Recurring | Credit
ASSETS MEASURED ON A RECURRING BASIS
Derivative assets, gross	3,000,000	1,000,000
Level 3 | Recurring | Credit | Long positions
LIABILITIES MEASURED ON A RECURRING BASIS
Derivative liabilities, gross	20,000,000	9,000,000
Level 3 | Recurring | Other
ASSETS MEASURED ON A RECURRING BASIS
Derivative assets, gross		5,000,000
Level 3 | Recurring | Other | Long positions
LIABILITIES MEASURED ON A RECURRING BASIS
Derivative liabilities, gross	0	0
Measured at NAV | Recurring | Equity Investments Direct, NAV
ASSETS MEASURED ON A RECURRING BASIS
Total other investments	1,000,000	1,000,000
Measured at NAV | Recurring | Equity Investments Indirect, NAV
ASSETS MEASURED ON A RECURRING BASIS
Total other investments	8,000,000	8,000,000
Collateralized mortgage Obligations | Recurring
ASSETS MEASURED ON A RECURRING BASIS
Securities available for sale	11,947,000,000	12,783,000,000
Collateralized mortgage Obligations | Level 1 | Recurring
ASSETS MEASURED ON A RECURRING BASIS
Securities available for sale	0	0
Collateralized mortgage Obligations | Level 2 | Recurring
ASSETS MEASURED ON A RECURRING BASIS
Securities available for sale	11,947,000,000	12,783,000,000
Collateralized mortgage Obligations | Level 3 | Recurring
ASSETS MEASURED ON A RECURRING BASIS
Securities available for sale	0	0
Variable Interest Entity, Not Primary Beneficiary | Measured at NAV | Recurring | Principal Investments, Indirect
ASSETS MEASURED ON A RECURRING BASIS
Total other investments	$ 56,000,000	$ 68,000,000

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($)	3 Months Ended
	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other equity investments	$ 147,000,000		$ 134,000,000
Impairment loss (less than)	1,000,000
Discontinued operations | Education Lending
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans at fair value	2,000,000	$ 2,000,000
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other investments	655,000,000	605,000,000
Loans at fair value	5,000,000	4,000,000
Fair Value | Discontinued operations | Education Lending
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans, net of allowance	608,000,000	729,000,000
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other investments	655,000,000	605,000,000
Loans at fair value	5,000,000	4,000,000
Carrying Amount | Discontinued operations | Education Lending
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans, net of allowance	737,000,000	855,000,000
Level 3 | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other investments	590,000,000	528,000,000
Loans at fair value	5,000,000	4,000,000
Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other investments	78,000,000	90,000,000
Liabilities measured at fair value on non recurring basis	1,025,000,000	903,000,000
Recurring | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other investments	13,000,000	13,000,000
Liabilities measured at fair value on non recurring basis	20,000,000	9,000,000
Nonrecurring | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities measured at fair value on non recurring basis	0	0
Principal investments, Direct | Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other investments	1,000,000	1,000,000
Principal investments, Direct | Recurring | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other investments	$ 1,000,000	$ 1,000,000

Fair Value Measurements - Fai_2

Fair Value Measurements - Fair Value of Direct and Indirect Investments, Related Unfunded Commitments and Financial Support Provided (Details) - Principal Investments - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 57		$ 57
Unfunded Commitments	18		18
Funded Commitments	0	$ 0	0	$ 2
Funded Other	0	0	0	0
Direct investments
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	1		1
Unfunded Commitments	0		0
Funded Commitments	0	0	0	0
Funded Other	0	0	0	0
Indirect investments (measured at NAV)
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	56		56
Unfunded Commitments	18		18
Funded Commitments	0	0	0	2
Funded Other	$ 0	$ 0	$ 0	$ 0

Fair Value Measurements - Chang

Fair Value Measurements - Change in Fair Values of Level 3 Financial Instruments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Other investments
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning of Period Balance	$ 10	$ 8	$ 12	$ 7
Gains (Losses) Included in Other Comprehensive Income	0	0	0	0
Gains (Losses) Included in Earnings	2	(1)	0	(1)
Purchases	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	0	0
Transfers Other	0	0	0	0
Transfers into Level 3	0	0	0	1
Transfers out of Level 3	0	0	0	0
End of Period Balance	12	7	12	7
Unrealized Gains (Losses) Included in Earnings	2	(1)	0	(1)
Other investments | Principal investments, Direct
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning of Period Balance	1	1	1	1
Gains (Losses) Included in Other Comprehensive Income	0	0	0	0
Gains (Losses) Included in Earnings	0	0	0	0
Purchases	0	(1)	0	0
Sales	0	1	0	0
Settlements	0	0	0	0
Transfers Other	0	0	0	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
End of Period Balance	1	1	1	1
Unrealized Gains (Losses) Included in Earnings	0	0	0	0
Securities available for sale | Other securities
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning of Period Balance	9	25	11	20
Gains (Losses) Included in Other Comprehensive Income	3	10	1	15
Gains (Losses) Included in Earnings	0	0	0	0
Purchases	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	0	0
Transfers Other	0		0	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0		0	(24)
End of Period Balance	12	11	12	11
Unrealized Gains (Losses) Included in Earnings	0	0	0	0
Interest rate
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning of Period Balance	96	3	22	5
Gains (Losses) Included in Other Comprehensive Income	0	0	0	0
Gains (Losses) Included in Earnings	3	2	22	3
Purchases	0	0	11	0
Sales	0	0	(1)	0
Settlements	0	0	0	0
Transfers Other	0	0	0	0
Transfers into Level 3	7	0	62	2
Transfers out of Level 3	(54)	(1)	(64)	(6)
End of Period Balance	52	4	52	4
Unrealized Gains (Losses) Included in Earnings	0	0	0	0
Credit
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning of Period Balance	(23)	(1)	(8)	0
Gains (Losses) Included in Other Comprehensive Income	0	0	0	0
Gains (Losses) Included in Earnings	6	0	(10)	0
Purchases	0	0	1	(1)
Sales		0	0	0
Settlements	0	0	0	0
Transfers Other	0	0	0	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3		0	0	0
End of Period Balance	(17)	(1)	(17)	(1)
Unrealized Gains (Losses) Included in Earnings	0	0	0	0
Other
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning of Period Balance	23	4	5	3
Gains (Losses) Included in Other Comprehensive Income	0	0	0	0
Gains (Losses) Included in Earnings	0	0	0	0
Purchases	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	0	0
Transfers Other	23	2	41	3
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
End of Period Balance	46	6	46	6
Unrealized Gains (Losses) Included in Earnings	0	0	0	0
Trading account assets | Other mortgage-backed securities
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning of Period Balance	0		0
Gains (Losses) Included in Other Comprehensive Income	0		0
Gains (Losses) Included in Earnings	0		0
Purchases	0		0
Sales	0		0
Settlements	0		0
Transfers Other	0		0
Transfers into Level 3	36		36
Transfers out of Level 3	0		0
End of Period Balance	36		36
Unrealized Gains (Losses) Included in Earnings	0		0
Loans held for sale (residential)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning of Period Balance	10	1	0	0
Gains (Losses) Included in Other Comprehensive Income	0	0	0	0
Gains (Losses) Included in Earnings	0	0	0	0
Purchases	0	0	0	0
Sales	(10)	(1)	(10)	(1)
Settlements	0	0	0	0
Transfers Other	0	0	10	1
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
End of Period Balance	0	0	0	0
Unrealized Gains (Losses) Included in Earnings	0	0	0	0
Loans, net of unearned income (residential)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning of Period Balance	3	3	4	3
Gains (Losses) Included in Other Comprehensive Income	0	0	0	0
Gains (Losses) Included in Earnings	0	0	0	0
Purchases	0	0	0	0
Sales	0	0	(1)	0
Settlements	0	0	0	0
Transfers Other	2	0	2	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
End of Period Balance	5	3	5	3
Unrealized Gains (Losses) Included in Earnings	$ 0	$ 0	$ 0	$ 0

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Nonrecurring Basis (Details) - Nonrecurring - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
ASSETS MEASURED ON A NONRECURRING BASIS
Collateral-dependent loans	$ 135	$ 76
Accrued income and other assets	91	169
Total assets at fair value	226	245
Level 1
ASSETS MEASURED ON A NONRECURRING BASIS
Collateral-dependent loans	0	0
Accrued income and other assets	0	0
Total assets at fair value	0	0
Level 2
ASSETS MEASURED ON A NONRECURRING BASIS
Collateral-dependent loans	0	0
Accrued income and other assets	0	118
Total assets at fair value	0	118
Level 3
ASSETS MEASURED ON A NONRECURRING BASIS
Collateral-dependent loans	135	76
Accrued income and other assets	91	51
Total assets at fair value	$ 226	$ 127

Fair Value Measurements - Quant

Fair Value Measurements - Quantitative Information about Level 3 Fair Value Measurements (Details)	Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Fair Value, Option, Quantitative Disclosures [Line Items]
Securities available for sale	$ 23,600,000,000	$ 21,843,000,000
Loans held for sale (residential)		0
Derivative assets	2,093,000,000	780,000,000
Mortgage servicing assets excluded from OREO	89,000,000	46,000,000
Recurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Securities available for sale	23,600,000,000	21,843,000,000
Other investments	78,000,000	90,000,000
Loans held for sale (residential)	250,000,000	140,000,000
Derivative assets	2,093,000,000	780,000,000
Nonrecurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Impaired loans	135,000,000	76,000,000
Level 3 | Recurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Securities available for sale	12,000,000	11,000,000
Other investments	13,000,000	13,000,000
Loans held for sale (residential)	0	0
Derivative assets	101,000,000	28,000,000
Level 3 | Nonrecurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Impaired loans	135,000,000	76,000,000
Valuation Technique, Discounted Cash Flow | Level 3 | Recurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Other investments	$ 12,000,000	$ 12,000,000
Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | Level 3 | Recurring | Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Trading account assets, measurement input	0.0237
Other investments, measurement input	0.1348	0.1391
Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | Level 3 | Recurring | Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Trading account assets, measurement input	0.0582
Other investments, measurement input	0.1688	0.1724
Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | Level 3 | Recurring | Weighted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Trading account assets, measurement input	0.0305
Other investments, measurement input	0.1514	0.1561
Valuation Technique, Discounted Cash Flow | Measurement Input, Conditional Prepayment Rate | Level 3 | Recurring | Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Trading account assets, measurement input	9
Valuation Technique, Discounted Cash Flow | Measurement Input, Conditional Prepayment Rate | Level 3 | Recurring | Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Trading account assets, measurement input	14
Valuation Technique, Discounted Cash Flow | Measurement Input, Conditional Prepayment Rate | Level 3 | Recurring | Weighted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Trading account assets, measurement input	10.65
Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Marketability | Level 3 | Recurring | Weighted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Other investments, measurement input	0.3000	0.3000
Valuation Technique, Discounted Cash Flow | Measurement Input, Price Volatility | Level 3 | Recurring | Weighted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Other investments, measurement input	0.5500	0.4700
Valuation Technique, Discounted Cash Flow | Measurement Input, Default Rate | Level 3 | Recurring | Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Trading account assets, measurement input	1
Valuation Technique, Discounted Cash Flow | Measurement Input, Default Rate | Level 3 | Recurring | Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Trading account assets, measurement input	2
Valuation Technique, Discounted Cash Flow | Measurement Input, Default Rate | Level 3 | Recurring | Weighted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Trading account assets, measurement input	1.13
Valuation Technique, Discounted Cash Flow | Measurement Input, Loss Severity Rate | Level 3 | Recurring | Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Trading account assets, measurement input	0.5000
Valuation Technique, Discounted Cash Flow | Measurement Input, Loss Severity Rate | Level 3 | Recurring | Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Trading account assets, measurement input	0.7000
Valuation Technique, Discounted Cash Flow | Measurement Input, Loss Severity Rate | Level 3 | Recurring | Weighted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Trading account assets, measurement input	0.5570
Valuation, Market Comparable Pricing | Level 3 | Recurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Loans, net of unearned income (residential)	$ 5,000,000	$ 4,000,000
Valuation, Market Comparable Pricing | Measurement Input, Comparability Adjustment | Level 3 | Recurring | Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Loans, net of unearned income (residential), measurement input	0.7900	0.7900
Valuation, Market Comparable Pricing | Measurement Input, Comparability Adjustment | Level 3 | Recurring | Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Loans, net of unearned income (residential), measurement input	0.9816	0.9800
Valuation, Market Comparable Pricing | Measurement Input, Comparability Adjustment | Level 3 | Recurring | Weighted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Loans, net of unearned income (residential), measurement input	0.9080	0.9105
Valuation, Fair Value Of Underlying Collateral | Level 3 | Nonrecurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Impaired loans	$ 135,000,000	$ 76,000,000
Valuation, Fair Value Of Underlying Collateral | Measurement Input, Discount Rate | Level 3 | Nonrecurring | Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Impaired loans, measurement input	0	0
Valuation, Fair Value Of Underlying Collateral | Measurement Input, Discount Rate | Level 3 | Nonrecurring | Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Impaired loans, measurement input	0.5500	0.6000
Valuation, Fair Value Of Underlying Collateral | Measurement Input, Discount Rate | Level 3 | Nonrecurring | Weighted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Impaired loans, measurement input	0.2300	0.1000
Valuation, Appraised Value | Level 3 | Nonrecurring
Fair Value, Option, Quantitative Disclosures [Line Items]
OREO and other Level 3 assets	$ 2,000,000	$ 5,000,000
Interest rate | Valuation Technique, Discounted Cash Flow | Level 3 | Recurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative assets	$ 52,000,000	$ 22,000,000
Interest rate | Valuation Technique, Discounted Cash Flow | Measurement Input, Default Rate | Level 3 | Recurring | Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative assets, measurement input	0.0002	0.0002
Interest rate | Valuation Technique, Discounted Cash Flow | Measurement Input, Default Rate | Level 3 | Recurring | Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative assets, measurement input	1	1
Interest rate | Valuation Technique, Discounted Cash Flow | Measurement Input, Default Rate | Level 3 | Recurring | Weighted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative assets, measurement input	0.1120	0.0540
Interest rate | Valuation Technique, Discounted Cash Flow | Measurement Input, Internal Risk Rating | Level 3 | Recurring | Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative assets, measurement input	1	1
Interest rate | Valuation Technique, Discounted Cash Flow | Measurement Input, Internal Risk Rating | Level 3 | Recurring | Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative assets, measurement input	19	19
Interest rate | Valuation Technique, Discounted Cash Flow | Measurement Input, Internal Risk Rating | Level 3 | Recurring | Weighted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative assets, measurement input	9.359	9.168
Interest rate | Valuation Technique, Discounted Cash Flow | Measurement Input, Loss Given Default | Level 3 | Recurring | Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative assets, measurement input	0	0
Interest rate | Valuation Technique, Discounted Cash Flow | Measurement Input, Loss Given Default | Level 3 | Recurring | Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative assets, measurement input	1	1
Interest rate | Valuation Technique, Discounted Cash Flow | Measurement Input, Loss Given Default | Level 3 | Recurring | Weighted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative assets, measurement input	0.478	0.492
Credit | Valuation Technique, Discounted Cash Flow | Level 3 | Recurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative assets	$ 3,000,000	$ 1,000,000
Derivative liabilities	$ (20,000,000)	$ (9,000,000)
Credit | Valuation Technique, Discounted Cash Flow | Measurement Input, Default Rate | Level 3 | Recurring | Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative assets, measurement input	0.0002	0.0002
Derivative liabilities, measurement input	0.0002	0.0002
Credit | Valuation Technique, Discounted Cash Flow | Measurement Input, Default Rate | Level 3 | Recurring | Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative assets, measurement input	1	1
Derivative liabilities, measurement input	1	1
Credit | Valuation Technique, Discounted Cash Flow | Measurement Input, Default Rate | Level 3 | Recurring | Weighted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative assets, measurement input	0.0920	0.042
Derivative liabilities, measurement input	0.1933	0.1224
Credit | Valuation Technique, Discounted Cash Flow | Measurement Input, Internal Risk Rating | Level 3 | Recurring | Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative assets, measurement input	1	1
Derivative liabilities, measurement input	1	1
Credit | Valuation Technique, Discounted Cash Flow | Measurement Input, Internal Risk Rating | Level 3 | Recurring | Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative assets, measurement input	19	19
Derivative liabilities, measurement input	19	19
Credit | Valuation Technique, Discounted Cash Flow | Measurement Input, Internal Risk Rating | Level 3 | Recurring | Weighted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative assets, measurement input	10.32	10.13
Derivative liabilities, measurement input	7.73	8.058
Credit | Valuation Technique, Discounted Cash Flow | Measurement Input, Loss Given Default | Level 3 | Recurring | Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative assets, measurement input	0	0
Derivative liabilities, measurement input	0	0
Credit | Valuation Technique, Discounted Cash Flow | Measurement Input, Loss Given Default | Level 3 | Recurring | Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative assets, measurement input	1	1
Derivative liabilities, measurement input	1	1
Credit | Valuation Technique, Discounted Cash Flow | Measurement Input, Loss Given Default | Level 3 | Recurring | Weighted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative assets, measurement input	0.491	0.498
Derivative liabilities, measurement input	0.393	0.411
Other | Valuation Technique, Discounted Cash Flow | Level 3 | Recurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative assets	$ 46,000,000	$ 5,000,000
Other | Valuation Technique, Discounted Cash Flow | Measurement Input, Loan Closing Rates | Level 3 | Recurring | Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative assets, measurement input	0.3378	0.3771
Other | Valuation Technique, Discounted Cash Flow | Measurement Input, Loan Closing Rates | Level 3 | Recurring | Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative assets, measurement input	0.9970	0.9969
Other | Valuation Technique, Discounted Cash Flow | Measurement Input, Loan Closing Rates | Level 3 | Recurring | Weighted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Derivative assets, measurement input	0.7574	0.7933
Other mortgage-backed securities | Valuation Technique, Discounted Cash Flow | Level 3 | Recurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Trading account assets	$ 36,000,000	$ 0
Other securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Securities available for sale	12,000,000	11,000,000
Other securities | Recurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Securities available for sale	12,000,000	11,000,000
Other securities | Level 3 | Recurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Securities available for sale	12,000,000	11,000,000
Other securities | Valuation Technique, Discounted Cash Flow | Level 3 | Recurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Securities available for sale	$ 12,000,000	$ 11,000,000
Other securities | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | Level 3 | Recurring | Weighted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Securities available for sale, measurement input	0.1509	0.1610
Other securities | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Marketability | Level 3 | Recurring | Weighted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Securities available for sale, measurement input	0.3000	0.3000
Other securities | Valuation Technique, Discounted Cash Flow | Measurement Input, Price Volatility | Level 3 | Recurring | Weighted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Securities available for sale, measurement input	0.4400	0.4300
Principal investments, Direct | Recurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Other investments	$ 1,000,000	$ 1,000,000
Principal investments, Direct | Level 3 | Recurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Other investments	$ 1,000,000	$ 1,000,000

Fair Value Measurements - Fai_3

Fair Value Measurements - Fair Value Disclosures of Financial Instruments (Details) - USD ($)		Jun. 30, 2020	Dec. 31, 2019
ASSETS
Trading account assets		$ 645,000,000	$ 1,040,000,000
Loans held for sale (residential)			0
Derivative assets		2,093,000,000	780,000,000
Securities available for sale		23,600,000,000	21,843,000,000
Amortized cost		9,075,000,000	10,067,000,000
Held-to-maturity securities		9,520,000,000	10,116,000,000
Loans, net of unearned income (residential)		106,159,000,000	94,646,000,000
Loans held for sale	[1]	2,007,000,000	1,334,000,000
LIABILITIES
Long-term debt		13,734,000,000	12,448,000,000
Carrying Amount
ASSETS
Trading account assets		645,000,000	1,040,000,000
Other investments		655,000,000	605,000,000
Loans, net of unearned income (residential)		5,000,000	4,000,000
Loans held for sale (residential)		250,000,000	140,000,000
Securities available for sale		23,600,000,000	21,843,000,000
Amortized cost		9,075,000,000	10,067,000,000
Loans, net of unearned income (residential)		104,446,000,000	93,742,000,000
Loans held for sale		1,757,000,000	1,194,000,000
Cash and short-term investments		15,095,000,000	2,004,000,000
LIABILITIES
Time deposits		8,487,000,000	11,652,000,000
Short-term borrowings		1,983,000,000	1,092,000,000
Long-term debt		13,734,000,000	12,448,000,000
Deposits with no stated maturity		127,026,000,000	100,218,000,000
Fair Value
ASSETS
Trading account assets		645,000,000	1,040,000,000
Other investments		655,000,000	605,000,000
Loans, net of unearned income (residential)		5,000,000	4,000,000
Loans held for sale (residential)		250,000,000	140,000,000
Securities available for sale		23,600,000,000	21,843,000,000
Held-to-maturity securities		9,520,000,000	10,116,000,000
Loans, net of unearned income (residential)		102,765,000,000	92,641,000,000
Loans held for sale		1,757,000,000	1,194,000,000
Cash and short-term investments		15,095,000,000	2,004,000,000
LIABILITIES
Time deposits		8,540,000,000	11,752,000,000
Short-term borrowings		1,983,000,000	1,092,000,000
Long-term debt		14,601,000,000	12,943,000,000
Deposits with no stated maturity		127,026,000,000	100,218,000,000
Fair Value | Level 1
ASSETS
Trading account assets		0	0
Other investments		0	0
Loans, net of unearned income (residential)		0	0
Loans held for sale (residential)		0	0
Securities available for sale		0	0
Held-to-maturity securities		0	0
Loans, net of unearned income (residential)		0	0
Loans held for sale		0	0
Cash and short-term investments		15,095,000,000	2,004,000,000
LIABILITIES
Time deposits		0	0
Short-term borrowings		285,000,000	19,000,000
Long-term debt		13,870,000,000	12,694,000,000
Deposits with no stated maturity		0	0
Fair Value | Level 2
ASSETS
Trading account assets		609,000,000	1,040,000,000
Other investments		0	0
Loans, net of unearned income (residential)		0	0
Loans held for sale (residential)		250,000,000	140,000,000
Securities available for sale		23,588,000,000	21,832,000,000
Held-to-maturity securities		9,520,000,000	10,116,000,000
Loans, net of unearned income (residential)		0	0
Loans held for sale		0	0
Cash and short-term investments		0	0
LIABILITIES
Time deposits		8,540,000,000	11,752,000,000
Short-term borrowings		1,698,000,000	1,073,000,000
Long-term debt		731,000,000	249,000,000
Deposits with no stated maturity		127,026,000,000	100,218,000,000
Fair Value | Level 3
ASSETS
Trading account assets		36,000,000	0
Other investments		590,000,000	528,000,000
Loans, net of unearned income (residential)		5,000,000	4,000,000
Loans held for sale (residential)		0	0
Securities available for sale		12,000,000	11,000,000
Held-to-maturity securities		0	0
Loans, net of unearned income (residential)		102,765,000,000	92,641,000,000
Loans held for sale		1,757,000,000	1,194,000,000
Cash and short-term investments		0	0
LIABILITIES
Time deposits		0	0
Short-term borrowings		0	0
Long-term debt		0	0
Deposits with no stated maturity		0	0
Fair Value | Measured at NAV
ASSETS
Other investments		65,000,000	77,000,000
Derivatives Designated as Hedging Instruments | Carrying Amount
ASSETS
Derivative assets		119,000,000	65,000,000
LIABILITIES
Derivative liabilities		1,000,000	4,000,000
Derivatives Designated as Hedging Instruments | Fair Value
ASSETS
Derivative assets		119,000,000	65,000,000
Derivative assets, Netting Adjustment		30,000,000	(126,000,000)
LIABILITIES
Derivative liabilities		1,000,000	4,000,000
Derivative liabilities, Netting Adjustment		(4,000,000)	(16,000,000)
Derivatives Designated as Hedging Instruments | Fair Value | Level 1
ASSETS
Derivative assets		0	0
LIABILITIES
Derivative liabilities		0	0
Derivatives Designated as Hedging Instruments | Fair Value | Level 2
ASSETS
Derivative assets		89,000,000	191,000,000
LIABILITIES
Derivative liabilities		5,000,000	20,000,000
Derivatives Designated as Hedging Instruments | Fair Value | Level 3
ASSETS
Derivative assets		0	0
LIABILITIES
Derivative liabilities		0	0
Derivatives Not Designated as Hedging Instruments | Carrying Amount
ASSETS
Derivative assets		1,974,000,000	715,000,000
LIABILITIES
Derivative liabilities		309,000,000	194,000,000
Derivatives Not Designated as Hedging Instruments | Fair Value
ASSETS
Derivative assets		1,974,000,000	715,000,000
Derivative assets, Netting Adjustment		(639,000,000)	(347,000,000)
LIABILITIES
Derivative liabilities		309,000,000	194,000,000
Derivative liabilities, Netting Adjustment		(625,000,000)	(319,000,000)
Derivatives Not Designated as Hedging Instruments | Fair Value | Level 1
ASSETS
Derivative assets		79,000,000	49,000,000
LIABILITIES
Derivative liabilities		69,000,000	43,000,000
Derivatives Not Designated as Hedging Instruments | Fair Value | Level 2
ASSETS
Derivative assets		2,433,000,000	985,000,000
LIABILITIES
Derivative liabilities		845,000,000	461,000,000
Derivatives Not Designated as Hedging Instruments | Fair Value | Level 3
ASSETS
Derivative assets		101,000,000	28,000,000
LIABILITIES
Derivative liabilities		$ 20,000,000	$ 9,000,000
[1]	Total loans held for sale include real estate — residential mortgage loans held for sale at fair value of $250 million at June 30, 2020 , and $140 million at December 31, 2019 .

Securities - Details of Securit

Securities - Details of Securities (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
SECURITIES AVAILABLE FOR SALE
Amortized Cost	$ 22,750	$ 21,692
Gross Unrealized Gains	851	266
Gross Unrealized Losses	1	115
Fair Value	23,600	21,843
HELD-TO-MATURITY SECURITIES
Amortized Cost	9,075	10,067
Gross Unrealized Gains	445	107
Gross Unrealized Losses	0	58
Fair Value	9,520	10,116
Accrued interest	225	244
U.S. Treasury, agencies and corporations
SECURITIES AVAILABLE FOR SALE
Amortized Cost	3,465	334
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	3,465	334
States and political subdivisions
SECURITIES AVAILABLE FOR SALE
Amortized Cost	3	4
Gross Unrealized Gains	1	0
Gross Unrealized Losses	0	0
Fair Value	4	4
Collateralized mortgage Obligations
SECURITIES AVAILABLE FOR SALE
Amortized Cost	11,600	12,772
Gross Unrealized Gains	348	82
Gross Unrealized Losses	1	71
Fair Value	11,947	12,783
HELD-TO-MATURITY SECURITIES
Amortized Cost	4,886	5,692
Gross Unrealized Gains	151	23
Gross Unrealized Losses	0	49
Fair Value	5,037	5,666
Agency residential mortgage-backed securities
SECURITIES AVAILABLE FOR SALE
Amortized Cost	1,373	1,677
Gross Unrealized Gains	72	41
Gross Unrealized Losses	0	4
Fair Value	1,445	1,714
HELD-TO-MATURITY SECURITIES
Amortized Cost	359	409
Gross Unrealized Gains	16	6
Gross Unrealized Losses	0	0
Fair Value	375	415
Asset-backed securities
HELD-TO-MATURITY SECURITIES
Amortized Cost	10	11
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	10	11
Other securities
SECURITIES AVAILABLE FOR SALE
Amortized Cost	8	7
Gross Unrealized Gains	4	4
Gross Unrealized Losses	0	0
Fair Value	12	11
HELD-TO-MATURITY SECURITIES
Amortized Cost	15	15
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	15	15
Mortgage-backed securities | Agency commercial mortgage-backed securities
SECURITIES AVAILABLE FOR SALE
Amortized Cost	6,301	6,898
Gross Unrealized Gains	426	139
Gross Unrealized Losses	0	40
Fair Value	6,727	6,997
HELD-TO-MATURITY SECURITIES
Amortized Cost	3,805	3,940
Gross Unrealized Gains	278	78
Gross Unrealized Losses	0	9
Fair Value	4,083	$ 4,009
Securities available for sale
HELD-TO-MATURITY SECURITIES
Accrued interest	39
Securities held-to-maturity
HELD-TO-MATURITY SECURITIES
Accrued interest	$ 18

Securities - Available for Sale

Securities - Available for Sale Securities (Unrealized Loss Position) (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Held-to-maturity securities:
Temporarily impaired securities, fair value, less than 12 months	$ 847	$ 7,250
Temporarily impaired securities, gross unrealized losses, less than 12 months	0	60
Temporarily impaired securities, fair value, 12 months or longer	100	7,382
Temporarily impaired securities, gross unrealized losses, 12 months or longer	1	113
Temporarily impaired securities, fair value	947	14,632
Temporarily impaired securities, gross unrealized losses	1	173
Collateralized mortgage Obligations
Securities available for sale:
Fair value, less than 12 months	371	3,432
Gross unrealized losses, less than 12 months	1,000,000	20
Fair value, 12 months or longer	58	3,221
Gross unrealized losses, 12 months or longer	1	51
Fair value	429	6,653
Gross unrealized losses	1	71
Held-to-maturity securities:
Fair value, less than 12 months	0	1,626
Gross unrealized losses, less than 12 months		14
Fair value, 12 months or longer	37	2,289
Gross unrealized losses, 12 months or longer	1,000,000	35
Fair value	37	3,915
Gross unrealized losses	0	49
Agency commercial mortgage-backed securities
Securities available for sale:
Fair value, less than 12 months		1,541
Gross unrealized losses, less than 12 months		17
Fair value, 12 months or longer		1,213
Gross unrealized losses, 12 months or longer		23
Fair value		2,754
Gross unrealized losses		40
Held-to-maturity securities:
Fair value, less than 12 months		518
Gross unrealized losses, less than 12 months		9
Fair value, 12 months or longer		0
Gross unrealized losses, 12 months or longer		0
Fair value		518
Gross unrealized losses		9
Asset-backed securities
Held-to-maturity securities:
Fair value, less than 12 months	1	11
Gross unrealized losses, less than 12 months	1,000,000	1,000,000
Fair value, 12 months or longer	0	0
Gross unrealized losses, 12 months or longer		0
Fair value	1	11
Gross unrealized losses	0	0
Other securities
Held-to-maturity securities:
Fair value, less than 12 months	10	3
Gross unrealized losses, less than 12 months	1,000,000	1,000,000
Fair value, 12 months or longer	0	0
Gross unrealized losses, 12 months or longer		0
Fair value	10	3
Gross unrealized losses	0	0
U.S. Treasury, agencies and corporations
Securities available for sale:
Fair value, less than 12 months	455	30
Gross unrealized losses, less than 12 months	1,000,000	1,000,000
Fair value, 12 months or longer	0	30
Gross unrealized losses, 12 months or longer		1,000,000
Fair value	455	60
Gross unrealized losses	0	0
Held-to-maturity securities:
Gross unrealized losses	0
Mortgage-backed securities | Agency residential mortgage-backed securities
Securities available for sale:
Fair value, less than 12 months	10	33
Gross unrealized losses, less than 12 months	1,000,000	1,000,000
Fair value, 12 months or longer	5	629
Gross unrealized losses, 12 months or longer	1,000,000	4
Fair value	15	662
Gross unrealized losses	$ 0	4
Held-to-maturity securities:
Fair value, less than 12 months		56
Gross unrealized losses, less than 12 months		1,000,000
Fair value, 12 months or longer		0
Gross unrealized losses, 12 months or longer		0
Fair value		56
Gross unrealized losses		$ 0

Securities - Additional Informa

Securities - Additional Information (Details) $ in Billions	Jun. 30, 2020USD ($)
Investments, Debt and Equity Securities [Abstract]
Loans pledged as collateral	$ 11.9

Securities - Securities by Matu

Securities - Securities by Maturity (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Amortized Cost of Securities Available for sale, Due in one year or less	$ 3,918
Amortized Cost of Securities Available for sale, Due after one through five years	14,490
Amortized Cost of Securities Available for sale, Due after five through ten years	4,340
Amortized Cost of Securities Available for sale, Due after ten years	2
Amortized Cost	22,750	$ 21,692
Fair Value of Securities Available for sale, Due in one year or less	3,928
Fair Value of Securities Available for sale, Due after one through five years	15,024
Fair Value of Securities Available for sale, Due after five through ten years	4,646
Fair Value of Securities Available for sale, Due after ten years	2
Total Fair Value of Securities Available For Sale	23,600	21,843
Amortized Cost of Held-to-Maturity Securities, Due in one year or less	126
Amortized Cost of Held-to-Maturity Securities, Due after one through five years	6,323
Amortized Cost of Held-to-Maturity Securities, Due after five through ten years	2,626
Amortized Cost of Held-to-Maturity Securities, Due after ten years	0
Amortized Cost	9,075	10,067
Fair Value of Held-to-Maturity Securities, Due in one year or less	128
Fair Value of Held-to-Maturity Securities, Due after one through five years	6,564
Fair Value of Held-to-Maturity Securities, Due after five through ten years	2,828
Fair Value of Held-to-Maturity Securities, Due after ten years	0
Total Fair Value of Held-to-Maturity Securities	$ 9,520	$ 10,116

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)derivativerating	Dec. 31, 2019USD ($)rating
Credit Derivatives [Line Items]
Derivative assets after effects of bilateral collateral and master netting agreements	$ 119
Derivative liabilities after effects of bilateral collateral and master netting agreements	1
Derivative assets not designated as hedging instruments after effects of bilateral collateral and master netting agreements, and a reserve for potential future losses	2,000
Derivative liabilities not designated as hedging instruments after effects of bilateral collateral and master netting agreements, and a reserve for potential future losses	309
Reclassify of after-tax net losses on derivative instruments from AOCI	$ 276
Length of time hedge in cash flow hedge	12 months
Reclassification of net losses related to terminated cash flow hedges from AOCI to income	$ (77)
Maximum length of time over which forecasted transactions are hedged, years	9 years
Cash collateral netted against derivative assets	$ 169	$ 207
Collateral netted against derivative liabilities	190	69
Gross exposure on derivatives, after taking into account the effects of bilateral collateral and master netting agreements	623
Net exposure on derivatives, after taking into account, the effects of bilateral collateral and master netting agreements	297
Over-collateralization on derivatives to broker-dealers and banks, after the application of master netting agreements and collateral	293
Additional collateral held in the form of securities	4
Default reserve associated with uncollateralized contracts	74
Gross exposure on derivatives after taking into account effects of master netting agreements	1,900
Net exposure on derivatives with clients after application of master netting agreements collateral and related reserve	1,800
Net liability position totaled	16	$ 9
Banking Subsidiary
Credit Derivatives [Line Items]
Net liability position totaled	109
Derivative assets included in net liability position	62
Derivative liabilities included in net liability position	(171)
Cash and securities collateral posted	$ 107
Number of credit risk derivatives held | derivative	0
Banking Subsidiary | Unsecured Debt
Credit Derivatives [Line Items]
Number of ratings above noninvestment | rating	4	4
Banking Subsidiary | Maximum | Unsecured Debt
Credit Derivatives [Line Items]
Payments to terminate contracts (less than for the $1 million)	$ 2	$ 3

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities - Fair Values, Volume of Activity and Gain (Loss) Information Related to Derivative Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2020	Jun. 30, 2019
Derivatives, Fair Value [Line Items]
Notional Amount	$ 135,023	$ 126,077
Derivative assets, netting adjustments	(609)	(473)
Derivative Assets, net	2,090	778
Derivative liabilities, netting adjustments	(629)	(335)
Derivative Liabilities, net	309	156
Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional Amount	100,421	86,869
Derivative Assets	2,613	1,062
Derivative Liabilities	934	513
Interest rate | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional Amount	34,602	39,208
Derivative Assets	89	191
Derivative Liabilities	5	20
Interest rate | Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional Amount	79,573	71,209
Derivative Assets	1,931	772
Derivative Liabilities	332	233
Foreign exchange | Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional Amount	6,040	6,572
Derivative Assets	108	67
Derivative Liabilities	97	60
Commodity | Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional Amount	6,399	5,324
Derivative Assets	487	208
Derivative Liabilities	462	200
Credit | Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional Amount	591	427
Derivative Assets	4	1
Derivative Liabilities	20	10
Other
Derivatives, Fair Value [Line Items]
Derivative Assets	46
Other | Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional Amount	7,818	3,337
Derivative Assets	83	14
Derivative Liabilities	23	10
Net derivatives
Derivatives, Fair Value [Line Items]
Notional Amount	135,023	126,077
Derivative Assets, net	2,093	780
Derivative Liabilities, net	310	198
Other collateral
Derivatives, Fair Value [Line Items]
Notional Amount	0	0
Derivative Assets, net	(3)	(2)
Derivative Liabilities, net	$ (1)	$ (42)

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities - Cumulative Basis Adjustments on Fair Value Hedges (Details) - Long-term debt - Interest rate - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Carrying amount of hedged item	$ 9,222	$ 8,408
Hedge accounting basis adjustment	538	240
Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Hedge accounting basis adjustment	$ (9)	$ (9)

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities - Effect of Fair Value and Cash Flow Hedges on Income (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Interest expense — Long-term debt		$ (71)	$ (120)	$ (161)	$ (240)
Interest income — Loans		980	1,082	2,006	2,148
Deposits		(96)	(223)	(265)	(425)
Other income	[1]	33	17	(55)	27
Interest rate | Interest expense – long-term debt | Fair Value Hedging
Net gains (losses) on fair value hedging relationships
Recognized on hedged items		(5)	(152)	(299)	(245)
Recognized on derivatives designated as hedging instruments		39	142	350	224
Net income (expense) recognized on fair value hedges		34	(10)	51	(21)
Interest rate | Interest expense – long-term debt | Cash Flow Hedging
Net gain (loss) on cash flow hedging relationships
Realized gains (losses) (pre-tax) reclassified from AOCI into net income		(1)	0	(2)	(1)
Net income (expense) recognized on cash flow hedges		(1)	0	(2)
Interest rate | Interest income – loans | Fair Value Hedging
Net gains (losses) on fair value hedging relationships
Recognized on hedged items		0	0	0	0
Recognized on derivatives designated as hedging instruments		0	0	0	0
Net income (expense) recognized on fair value hedges		0	0	0	0
Interest rate | Interest income – loans | Cash Flow Hedging
Net gain (loss) on cash flow hedging relationships
Realized gains (losses) (pre-tax) reclassified from AOCI into net income		90	(19)	124	(43)
Net income (expense) recognized on cash flow hedges		90	(19)	124
Interest rate | Interest expense - deposits | Fair Value Hedging
Net gains (losses) on fair value hedging relationships
Recognized on hedged items		0	(1)	0	(1)
Recognized on derivatives designated as hedging instruments		0	0	0	0
Net income (expense) recognized on fair value hedges		0	(1)	0	(1)
Interest rate | Interest expense - deposits | Cash Flow Hedging
Net gain (loss) on cash flow hedging relationships
Realized gains (losses) (pre-tax) reclassified from AOCI into net income		0	0	0	0
Net income (expense) recognized on cash flow hedges		0	0	0
Interest rate | Other income | Fair Value Hedging
Net gains (losses) on fair value hedging relationships
Recognized on hedged items		0	0	0	0
Recognized on derivatives designated as hedging instruments		0	0	0	0
Net income (expense) recognized on fair value hedges		0	0	0	0
Interest rate | Other income | Cash Flow Hedging
Net gain (loss) on cash flow hedging relationships
Realized gains (losses) (pre-tax) reclassified from AOCI into net income		0	0	0	$ 0
Net income (expense) recognized on cash flow hedges		$ 0	$ 0	$ 0
[1]	For the three months ended June 30, 2020 , we had no net securities gains (losses). For the six months ended June 30, 2020 , net securities gains (losses) totaled $4 million . For the three and six months ended June 30, 2019 , net securities gains (losses) totaled less than $1 million . For the three months ended June 30, 2020 , and June 30, 2019 , we did no t have any impairment losses related to securities.

Derivatives and Hedging Activ_7

Derivatives and Hedging Activities - Derivative Instrument Cash Flow Hedge Earning Recognized by Income Statement Location (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Derivatives, Fair Value [Line Items]
Net Gains (Losses) Recognized in OCI	$ 71	$ 266	$ 598	$ 372
Net Gains (Losses) Reclassified From OCI Into Income	89	(19)	122	(44)
Interest income – loans | Interest rate | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Net Gains (Losses) Recognized in OCI	62	270	624	385
Net Gains (Losses) Reclassified From OCI Into Income	90	(19)	124	(43)
Interest expense — Long-term debt | Interest rate | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Net Gains (Losses) Recognized in OCI	(1)	(2)	(6)	(3)
Net Gains (Losses) Reclassified From OCI Into Income	(1)	0	(2)	(1)
Investment banking and debt placement fees | Interest rate | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Net Gains (Losses) Recognized in OCI	10	(1)	(20)	(6)
Net Gains (Losses) Reclassified From OCI Into Income	$ 0	0	0	0
Other income | Foreign exchange | Net Investment Hedges
Derivatives, Fair Value [Line Items]
Net Gains (Losses) Recognized in OCI		(1)	0	(4)
Net Gains (Losses) Reclassified From OCI Into Income		$ 0	$ 0	$ 0

Derivatives and Hedging Activ_8

Derivatives and Hedging Activities - Pre-Tax Net Gains (Losses) on Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Total net gains (losses)	$ 34	$ 14	$ 48	$ 26
Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Total net gains (losses)	7	7	9	13
Foreign exchange
Derivative Instruments, Gain (Loss) [Line Items]
Total net gains (losses)	8	11	20	21
Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total net gains (losses)	6	2	8	3
Credit
Derivative Instruments, Gain (Loss) [Line Items]
Total net gains (losses)	(7)	(8)	(22)	(14)
Other
Derivative Instruments, Gain (Loss) [Line Items]
Total net gains (losses)	20	2	33	3
Corporate services income
Derivative Instruments, Gain (Loss) [Line Items]
Total net gains (losses)	27	20	36	40
Corporate services income | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Total net gains (losses)	7	7	18	15
Corporate services income | Foreign exchange
Derivative Instruments, Gain (Loss) [Line Items]
Total net gains (losses)	8	11	20	21
Corporate services income | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total net gains (losses)	6	2	8	3
Corporate services income | Credit
Derivative Instruments, Gain (Loss) [Line Items]
Total net gains (losses)	6	0	(10)	1
Corporate services income | Other
Derivative Instruments, Gain (Loss) [Line Items]
Total net gains (losses)	0	0	0	0
Consumer mortgage income
Derivative Instruments, Gain (Loss) [Line Items]
Total net gains (losses)	4	0	8	0
Consumer mortgage income | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Total net gains (losses)	0	0	0	0
Consumer mortgage income | Foreign exchange
Derivative Instruments, Gain (Loss) [Line Items]
Total net gains (losses)	0	0	0	0
Consumer mortgage income | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total net gains (losses)	0	0	0	0
Consumer mortgage income | Credit
Derivative Instruments, Gain (Loss) [Line Items]
Total net gains (losses)	0	0	0	0
Consumer mortgage income | Other
Derivative Instruments, Gain (Loss) [Line Items]
Total net gains (losses)	4	0	8	0
Other income
Derivative Instruments, Gain (Loss) [Line Items]
Total net gains (losses)	3	(6)	4	(14)
Other income | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Total net gains (losses)	0	0	(9)	(2)
Other income | Foreign exchange
Derivative Instruments, Gain (Loss) [Line Items]
Total net gains (losses)	0	0	0	0
Other income | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total net gains (losses)	0	0	0	0
Other income | Credit
Derivative Instruments, Gain (Loss) [Line Items]
Total net gains (losses)	(13)	(8)	(12)	(15)
Other income | Other
Derivative Instruments, Gain (Loss) [Line Items]
Total net gains (losses)	$ 16	$ 2	$ 25	$ 3

Derivatives and Hedging Activ_9

Derivatives and Hedging Activities - Fair Value of Derivative Assets by Type (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Credit Derivatives [Line Items]
Derivative assets before collateral	$ 2,262	$ 987
Less: Related collateral	169	207
Total derivative assets	2,093	780
Interest rate
Credit Derivatives [Line Items]
Derivative assets before collateral	1,860	848
Foreign exchange
Credit Derivatives [Line Items]
Derivative assets before collateral	49	30
Commodity
Credit Derivatives [Line Items]
Derivative assets before collateral	270	95
Credit
Credit Derivatives [Line Items]
Derivative assets before collateral	0	0
Other
Credit Derivatives [Line Items]
Derivative assets before collateral	$ 83	$ 14

Derivatives and Hedging Acti_10

Derivatives and Hedging Activities - Credit Derivatives Sold and Held (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Credit Derivatives [Line Items]
Notional Amount	$ 327	$ 134
Average Term (Years)	0 years	0 years
Payment / Performance Risk	0.00%	0.00%
Other
Credit Derivatives [Line Items]
Notional Amount	$ 327	$ 134
Average Term (Years)	13 years 11 months 8 days	14 years 3 months 18 days
Payment / Performance Risk	19.84%	14.56%

Derivatives and Hedging Acti_11

Derivatives and Hedging Activities - Credit Risk Contingent Feature (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Credit Derivatives [Line Items]
Additional collateral aggregate fair value	$ 4
Standard & Poor's, A- Rating | One rating downgrade
Credit Derivatives [Line Items]
Additional collateral aggregate fair value	1	$ 1
Standard & Poor's, A- Rating | Two rating downgrades
Credit Derivatives [Line Items]
Additional collateral aggregate fair value	1	1
Standard & Poor's, A- Rating | Three rating downgrades
Credit Derivatives [Line Items]
Additional collateral aggregate fair value	1	1
Moody's, A3 Rating | One rating downgrade
Credit Derivatives [Line Items]
Additional collateral aggregate fair value	1	1
Moody's, A3 Rating | Two rating downgrades
Credit Derivatives [Line Items]
Additional collateral aggregate fair value	1	1
Moody's, A3 Rating | Three rating downgrades
Credit Derivatives [Line Items]
Additional collateral aggregate fair value	$ 1	$ 1

Mortgage Servicing Assets - Cha

Mortgage Servicing Assets - Changes in Carrying Amount of Mortgage Servicing Assets (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Real estate — commercial mortgage
Servicing Asset at Amortized Cost, Balance [Roll Forward]
Balance at beginning of period	$ 543	$ 497	$ 539	$ 502
Servicing retained from loan sales	53	23	77	41
Purchases	7	17	18	23
Amortization	(30)	(28)	(59)	(57)
Temporary impairments	(8)	0	(10)	0
Balance at end of period	565	509	565	509
Fair value at end of period	663	723	663	723
Agency residential mortgage-backed securities
Servicing Asset at Amortized Cost, Balance [Roll Forward]
Balance at beginning of period	40	38	46	37
Servicing retained from loan sales	8	2	13	4
Purchases	0	0	0	0
Amortization	(3)	(1)	(5)	(2)
Temporary impairments	1	0	(8)	0
Balance at end of period	46	39	46	39
Fair value at end of period	$ 46	$ 45	$ 46	$ 45

Mortgage Servicing Assets - Sch

Mortgage Servicing Assets - Schedule of Range and Weighted-Average of Significant Unobservable Inputs (Details) - Discounted cash flow - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Real estate — commercial mortgage | Minimum
Servicing Assets at Fair Value [Line Items]
Expected defaults	1.00%	1.00%
Residual cash flows discount rate	6.97%	7.00%
Escrow earn rate	0.78%	2.22%
Loan assumption rate	0.00%	0.00%
Real estate — commercial mortgage | Maximum
Servicing Assets at Fair Value [Line Items]
Expected defaults	2.00%	2.00%
Residual cash flows discount rate	11.42%	15.00%
Escrow earn rate	1.92%	3.70%
Loan assumption rate	3.37%	3.18%
Real estate — commercial mortgage | Weighted Average
Servicing Assets at Fair Value [Line Items]
Expected defaults	1.15%	1.14%
Residual cash flows discount rate	9.42%	9.19%
Escrow earn rate	1.66%	2.98%
Loan assumption rate	1.32%	1.39%
Residential mortgage-backed securities | Minimum
Servicing Assets at Fair Value [Line Items]
Expected defaults	7.55%	7.50%
Prepayment speed	12.29%	9.32%
Servicing cost	$ 62,000,000	$ 62,000,000
Residential mortgage-backed securities | Maximum
Servicing Assets at Fair Value [Line Items]
Expected defaults	9.27%	10.00%
Prepayment speed	55.18%	58.76%
Servicing cost	$ 5,135,000,000	$ 4,375,000,000
Residential mortgage-backed securities | Weighted Average
Servicing Assets at Fair Value [Line Items]
Expected defaults	7.64%	7.54%
Prepayment speed	16.89%	9.93%
Servicing cost	$ 77,450,000	$ 68,230,000

Mortgage Servicing Assets - Add

Mortgage Servicing Assets - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Real estate — commercial mortgage
Servicing Assets at Fair Value [Line Items]
Contractual fee income from servicing commercial mortgage loans	$ 99	$ 95
Amortization of servicing commercial mortgage loans	59	57
Residential mortgage-backed securities
Servicing Assets at Fair Value [Line Items]
Contractual fee income from servicing commercial mortgage loans	14	9
Amortization of servicing commercial mortgage loans	$ 5	$ 2

Leases - Components of Equipmen

Leases - Components of Equipment Leasing Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Sales-type and direct financing leases
Interest income on lease receivable	$ 27	$ 31	$ 55	$ 61
Interest income related to accretion of unguaranteed residual asset	3	3	6	6
Interest income on deferred fees and costs	0	0	0	0
Total sales-type and direct financing lease income	30	34	61	67
Operating leases
Operating lease income related to lease payments	35	33	69	66
Other operating leasing gains	25	11	21	15
Total operating lease income and other leasing gains	60	44	90	81
Total lease income	$ 90	$ 78	$ 151	$ 148

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Variable Interest Entity [Line Items]
VIE, assets that can only be used to settle obligations	$ 171,192,000,000		$ 144,988,000,000
VIE, liabilities	153,650,000,000		127,950,000,000
Recurring
Variable Interest Entity [Line Items]
Other investments	78,000,000		90,000,000
Variable Interest Entity, Primary Beneficiary | Investments
Variable Interest Entity [Line Items]
VIE, assets that can only be used to settle obligations			0
VIE, liabilities			0
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
VIE, assets that can only be used to settle obligations	300,000,000		282,000,000
VIE, liabilities	1,000,000		1,000,000
Variable Interest Entity, Not Primary Beneficiary | LIHTC investments
Variable Interest Entity [Line Items]
VIE, assets that can only be used to settle obligations	6,300,000,000		6,405,000,000
VIE, liabilities	2,534,000,000		2,526,000,000
Tax credit of investment		$ 92,000,000
Variable Interest Entity, Not Primary Beneficiary | LIHTC investments | Qualified affordable housing projects investment [Member]
Variable Interest Entity [Line Items]
VIE, liabilities	465,000,000		546,000,000
Variable Interest Entity, Not Primary Beneficiary | LIHTC investments | Accrued Income And Other Assets
Variable Interest Entity [Line Items]
VIE, assets that can only be used to settle obligations	1,400,000,000		1,500,000,000
Variable Interest Entity, Not Primary Beneficiary | LIHTC investments | Investments
Variable Interest Entity [Line Items]
Amortization of investment	97,000,000	$ 89,000,000
Tax credit of investment	90,000,000
Variable Interest Entity, Not Primary Beneficiary | Measured at NAV | Recurring | Principal Investments, Indirect
Variable Interest Entity [Line Items]
Other investments	56,000,000		$ 68,000,000
Variable Interest Entity, Primary Beneficiary | Investments
Variable Interest Entity [Line Items]
VIE, assets that can only be used to settle obligations	0
VIE, liabilities	$ 0

Variable Interest Entities - Su

Variable Interest Entities - Summary of Variable Interest Entities Information (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Total Assets	$ 171,192	$ 144,988
Total Liabilities	153,650	127,950
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Total Assets	300	282
Total Liabilities	1	1
Variable Interest Entity, Not Primary Beneficiary | LIHTC investments
Variable Interest Entity [Line Items]
Total Assets	6,300	6,405
Total Liabilities	2,534	2,526
Maximum Exposure to Loss	1,760	1,846
Variable Interest Entity, Not Primary Beneficiary | KCC indirect investments
Variable Interest Entity [Line Items]
Total Assets	9,930	12,954
Total Liabilities	177	205
Maximum Exposure to Loss	$ 74	$ 89

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Dec. 31, 2019
Income Tax Contingency [Line Items]
Total income tax expense (benefit), rate	14.00%	16.80%
Combined federal and state statutory tax rate			23.70%
Federal deferred tax asset	$ (177,000,000)		$ (177,000,000)	$ (89,000,000)
Valuation allowance	0		0	$ 0
Key Corp
Income Tax Contingency [Line Items]
Unrecognized tax benefits	18,000,000		18,000,000
First Niagara Bank, N.A.
Income Tax Contingency [Line Items]
Allocated bad debt deductions	$ 92,000,000		$ 92,000,000

Acquisitions and Discontinued_2

Acquisitions and Discontinued Operations - Additional Information (Details) $ in Millions	Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)	Apr. 03, 2019Branch
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill	$ 2,664	$ 2,664
Discontinued operations | Government Guaranteed Loans
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loans included in divestiture	780	$ 865
Laurel Road Bank
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of bank branches excluded from transaction | Branch			3
Intangible assets acquired	37
Goodwill	$ 148

Securities Financing Activiti_3

Securities Financing Activities - Summarized Securities Financing Agreements (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Securities Financing Transaction [Line Items]
Reverse repurchase agreements	$ 0	$ 0
Total	0	0
Repurchase agreements	0	0
Total	0	0
Collateral
Securities Financing Transaction [Line Items]
Reverse repurchase agreements	(3)	0
Total	(3)	0
Repurchase agreements	(261)	(180)
Total	(261)	(180)
Federal Agency CMOs
Securities Financing Transaction [Line Items]
Assets pledged as collateral	396
Liabilities pledged as collateral	260
Gross Amount Presented in Balance Sheet
Securities Financing Transaction [Line Items]
Reverse repurchase agreements	9	5
Total	9	5
Repurchase agreements	267	187
Total	267	187
Netting Adjustments
Securities Financing Transaction [Line Items]
Reverse repurchase agreements	(6)	(5)
Total	(6)	(5)
Repurchase agreements	(6)	(7)
Total	$ (6)	$ (7)

Employee Benefits - Net Pension

Employee Benefits - Net Pension Cost (Benefit) for All Funded and Unfunded Plans (Details) - Pension Plans - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Defined Benefit Plan Disclosure [Line Items]
Interest cost on PBO	$ 8	$ 12	$ 17	$ 23
Expected return on plan assets	(9)	(12)	(19)	(24)
Amortization of losses	4	3	8	7
Settlement loss	4	0	8	0
Net pension cost	$ 7	$ 3	$ 14	$ 6

Trust Preferred Securities Is_3

Trust Preferred Securities Issued by Unconsolidated Subsidiaries - Summary of Trust Preferred Securities, Common Stock and Related Debentures (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common Stock	$ 1,257	$ 1,257
Debentures adjustments related to financial instrument hedging	78	57
KeyCorp Capital I
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Trust Preferred Securities, Net of Discount	156
Common Stock	6
Principal Amount of of Debentures, Net of Discount	$ 162
Interest Rate of Trust Preferred Securities and Debentures	2.173%
KeyCorp Capital II
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Trust Preferred Securities, Net of Discount	$ 114
Common Stock	4
Principal Amount of of Debentures, Net of Discount	$ 118
Interest Rate of Trust Preferred Securities and Debentures	6.875%
KeyCorp Capital III
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Trust Preferred Securities, Net of Discount	$ 149
Common Stock	4
Principal Amount of of Debentures, Net of Discount	$ 153
Interest Rate of Trust Preferred Securities and Debentures	7.75%
HNC Statutory Trust III
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Trust Preferred Securities, Net of Discount	$ 19
Common Stock	1
Principal Amount of of Debentures, Net of Discount	$ 20
Interest Rate of Trust Preferred Securities and Debentures	1.76%
Willow Grove Statutory Trust I
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Trust Preferred Securities, Net of Discount	$ 19
Common Stock	1
Principal Amount of of Debentures, Net of Discount	$ 20
Interest Rate of Trust Preferred Securities and Debentures	1.631%
HNC Statutory Trust IV
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Trust Preferred Securities, Net of Discount	$ 17
Common Stock	1
Principal Amount of of Debentures, Net of Discount	$ 18
Interest Rate of Trust Preferred Securities and Debentures	2.04%
Westbank Capital Trust II
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Trust Preferred Securities, Net of Discount	$ 8
Common Stock	0
Principal Amount of of Debentures, Net of Discount	$ 8
Interest Rate of Trust Preferred Securities and Debentures	2.496%
Westbank Capital Trust III
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Trust Preferred Securities, Net of Discount	$ 8
Common Stock	0
Principal Amount of of Debentures, Net of Discount	$ 8
Interest Rate of Trust Preferred Securities and Debentures	2.496%
Business Trusts
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Trust Preferred Securities, Net of Discount	$ 490	466
Common Stock	17	17
Principal Amount of of Debentures, Net of Discount	$ 507	$ 483
Interest Rate of Trust Preferred Securities and Debentures	4.932%	5.214%
Treasury Rate | KeyCorp Capital II
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Basis spread on variable rate	0.20%
Treasury Rate | KeyCorp Capital III
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Basis spread on variable rate	0.25%
London Interbank Offered Rate (LIBOR) | KeyCorp Capital I
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Basis spread on variable rate	0.74%
London Interbank Offered Rate (LIBOR) | HNC Statutory Trust III
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Basis spread on variable rate	1.40%
London Interbank Offered Rate (LIBOR) | Willow Grove Statutory Trust I
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Basis spread on variable rate	1.31%
London Interbank Offered Rate (LIBOR) | HNC Statutory Trust IV
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Basis spread on variable rate	1.28%
London Interbank Offered Rate (LIBOR) | Westbank Capital Trust II and III
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Basis spread on variable rate	2.19%
Redemption upon either tax or a capital treatment event | Treasury Rate | Keycorp Capital II and III
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Basis spread on variable rate	0.50%

Contingent Liabilities and Gu_3

Contingent Liabilities and Guarantees - Guarantees (Details) $ in Millions	Jun. 30, 2020USD ($)
Guarantor Obligations [Line Items]
Maximum Potential Undiscounted Future Payments	$ 13,844
Liability Recorded	183
Written put options
Guarantor Obligations [Line Items]
Maximum Potential Undiscounted Future Payments	3,276
Liability Recorded	84
Standby letters of credit
Guarantor Obligations [Line Items]
Maximum Potential Undiscounted Future Payments	3,048
Liability Recorded	69
Recourse agreement with FNMA
Guarantor Obligations [Line Items]
Maximum Potential Undiscounted Future Payments	5,463
Liability Recorded	22
Residential mortgage reserve
Guarantor Obligations [Line Items]
Maximum Potential Undiscounted Future Payments	2,057
Liability Recorded	$ 8

Contingent Liabilities and Gu_4

Contingent Liabilities and Guarantees - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)
Written put options
Commitments Contingencies And Guarantees [Line Items]
Weighted average life of written put options	3 years
Standby letters of credit
Commitments Contingencies And Guarantees [Line Items]
Remaining weighted-average life of standby letters of credit in years	2 years
Recourse agreement with FNMA
Commitments Contingencies And Guarantees [Line Items]
Weighted-average remaining term for outstanding commercial mortgage loans in years	7 years 10 months 24 days
Unpaid principal balance outstanding of loans sold	$ 18,200
Maximum potential amount of undiscounted future payments possibly required as percentage of principal balance of loans outstanding	30.00%
Residential mortgage reserve
Commitments Contingencies And Guarantees [Line Items]
Unpaid principal balance outstanding of loans sold	$ 6,900
Maximum potential amount of undiscounted future payments possibly required as percentage of principal balance of loans outstanding	30.00%
Liability for estimated repurchase obligations on loans sold	$ 8
Minimum | Standby letters of credit
Commitments Contingencies And Guarantees [Line Items]
Remaining actual life of standby letters of credit	1 year
Minimum | Low
Commitments Contingencies And Guarantees [Line Items]
Guarantee obligations, percentage	0.00%
Minimum | Moderate
Commitments Contingencies And Guarantees [Line Items]
Guarantee obligations, percentage	30.00%
Minimum | High
Commitments Contingencies And Guarantees [Line Items]
Guarantee obligations, percentage	70.00%
Maximum | Standby letters of credit
Commitments Contingencies And Guarantees [Line Items]
Remaining actual life of standby letters of credit	15 years
Maximum | Low
Commitments Contingencies And Guarantees [Line Items]
Guarantee obligations, percentage	30.00%
Maximum | Moderate
Commitments Contingencies And Guarantees [Line Items]
Guarantee obligations, percentage	70.00%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income - Changes in AOCI (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance			$ 17,038
Other comprehensive income before reclassification, net of income taxes	$ 184	$ 511		$ 777
Amounts reclassified from AOCI, net of income taxes	(62)	17		39
Total other comprehensive income (loss), net of tax	122	528	910	816
Ending Balance	17,542		17,542
Unrealized gains (losses) on securities available for sale
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	520	(189)	115	(373)
Other comprehensive income before reclassification, net of income taxes	130	291		475
Amounts reclassified from AOCI, net of income taxes	0	0		0
Total other comprehensive income (loss), net of tax	130	291	535	475
Ending Balance	650	102	650	102
Unrealized gains (losses) on derivative financial instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	627	49	250	(50)
Other comprehensive income before reclassification, net of income taxes	54	204		284
Amounts reclassified from AOCI, net of income taxes	(68)	15		34
Total other comprehensive income (loss), net of tax	(14)	219	363	318
Ending Balance	613	268	613	268
Foreign currency translation adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	0	(11)	0	(14)
Other comprehensive income before reclassification, net of income taxes	0	1		4
Amounts reclassified from AOCI, net of income taxes	0	0		0
Total other comprehensive income (loss), net of tax	0	1	0	4
Ending Balance	0	(10)	0	(10)
Net pension and postretirement benefit costs
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(333)	(379)	(339)	(381)
Other comprehensive income before reclassification, net of income taxes	0	15		14
Amounts reclassified from AOCI, net of income taxes	6	2		5
Total other comprehensive income (loss), net of tax	6	17	12	19
Ending Balance	(327)	(362)	(327)	(362)
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	814	(530)	26	(818)
Total other comprehensive income (loss), net of tax	122		910	816
Ending Balance	$ 936	$ (2)	$ 936	$ (2)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income - Reclassifications Out of AOCI (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income	[1]	$ 33	$ 17	$ (55)	$ 27
Interest income — Loans		980	1,082	2,006	2,148
Interest expense — Long-term debt		(71)	(120)	(161)	(240)
Income (loss) from continuing operations before income taxes		222	518	398	1,014
Income taxes		30	87	53	169
Other expense		572	589	1,087	1,152
INCOME (LOSS) FROM CONTINUING OPERATIONS		185	423	330	829
Reclassification out of Accumulated Other Comprehensive Income | Unrealized gains (losses) on securities available for sale
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income				4	0
Income (loss) from continuing operations before income taxes				4	0
Income taxes				1	0
INCOME (LOSS) FROM CONTINUING OPERATIONS				3	0
Reclassification out of Accumulated Other Comprehensive Income | Unrealized gains (losses) on derivative financial instruments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income (loss) from continuing operations before income taxes		89	(19)	122	(44)
Income taxes		21	(4)	29	(10)
INCOME (LOSS) FROM CONTINUING OPERATIONS		68	(15)	93	(34)
Reclassification out of Accumulated Other Comprehensive Income | Net pension and postretirement benefit costs
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income (loss) from continuing operations before income taxes		(8)	(3)	(16)	(7)
Income taxes		(2)	(1)	(4)	(2)
INCOME (LOSS) FROM CONTINUING OPERATIONS		(6)	(2)	(12)	(5)
Reclassification out of Accumulated Other Comprehensive Income | Net pension and postretirement benefit costs | Amortization of losses
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other expense		(4)	(3)	(8)	(7)
Reclassification out of Accumulated Other Comprehensive Income | Net pension and postretirement benefit costs | Settlement loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other expense		(4)	0	(8)	0
Interest income – loans | Reclassification out of Accumulated Other Comprehensive Income | Unrealized gains (losses) on derivative financial instruments | Interest rate
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest income — Loans		90	(19)	124	(43)
Interest expense — Long-term debt | Reclassification out of Accumulated Other Comprehensive Income | Unrealized gains (losses) on derivative financial instruments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense — Long-term debt		$ (1)	$ 0	$ (2)	$ (1)
[1]	For the three months ended June 30, 2020 , we had no net securities gains (losses). For the six months ended June 30, 2020 , net securities gains (losses) totaled $4 million . For the three and six months ended June 30, 2019 , net securities gains (losses) totaled less than $1 million . For the three months ended June 30, 2020 , and June 30, 2019 , we did no t have any impairment losses related to securities.

Shareholders' Equity - Comprehe

Shareholders' Equity - Comprehensive Capital Plan (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Cash dividends declared on common shares (in usd per share)	$ 0.185	$ 0.17	$ 0.370	$ 0.34
2019 Capital Plan
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Cash dividends declared on common shares (in usd per share)	$ 0.185

Shareholders' Equity - Schedule

Shareholders' Equity - Schedule of Preferred Stock (Details)	Jun. 30, 2020USD ($)$ / sharesshares
Series D Preferred Stock
Class of Stock [Line Items]
Preferred stock, amount outstanding | $	$ 525,000,000
Preferred stock, shares authorized (in shares) | shares	21,000
Preferred stock, shares outstanding (in shares) | shares	21,000
Preferred stock, par value (in usd per share)	$ 1
Preferred stock, liquidation preference, value | $	$ 25,000
Depository Shares, Series D
Class of Stock [Line Items]
Depository receipt ratio	0.04
Preferred stock, liquidation preference (in usd per share)	$ 1,000
Dividend payable per share (in usd per share)	$ 12.50
Series E Preferred Stock
Class of Stock [Line Items]
Preferred stock, amount outstanding | $	$ 500,000,000
Preferred stock, shares authorized (in shares) | shares	500,000
Preferred stock, shares outstanding (in shares) | shares	500,000
Preferred stock, par value (in usd per share)	$ 1
Preferred stock, liquidation preference, value | $	$ 1,000
Depository Shares, Series E
Class of Stock [Line Items]
Depository receipt ratio	0.025
Preferred stock, liquidation preference (in usd per share)	$ 25
Dividend payable per share (in usd per share)	$ 0.382813
Series F Preferred Stock
Class of Stock [Line Items]
Preferred stock, amount outstanding | $	$ 425,000,000
Preferred stock, shares authorized (in shares) | shares	425,000
Preferred stock, shares outstanding (in shares) | shares	425,000
Preferred stock, par value (in usd per share)	$ 1
Preferred stock, liquidation preference, value | $	$ 1,000
Depository Shares, Series F
Class of Stock [Line Items]
Depository receipt ratio	0.025
Preferred stock, liquidation preference (in usd per share)	$ 25
Dividend payable per share (in usd per share)	$ 0.353125
Series G Preferred Stock
Class of Stock [Line Items]
Preferred stock, amount outstanding | $	$ 450,000,000
Preferred stock, shares authorized (in shares) | shares	450,000
Preferred stock, shares outstanding (in shares) | shares	450,000
Preferred stock, par value (in usd per share)	$ 1
Preferred stock, liquidation preference, value | $	$ 1,000
Depository Shares, Series G
Class of Stock [Line Items]
Depository receipt ratio	0.025
Preferred stock, liquidation preference (in usd per share)	$ 25
Dividend payable per share (in usd per share)	$ 0.351563

Business Segment Reporting - Ad

Business Segment Reporting - Additional Information (Details)	Jun. 30, 2020Branchindustry_sector
Consumer Bank
Segment Reporting Information [Line Items]
Number Of State Branch Network | Branch	15
Commercial Bank
Segment Reporting Information [Line Items]
Number Of Industrial Sectors | industry_sector	7

Business Segment Reporting - Sc

Business Segment Reporting - Schedule of Segment Reporting Information (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)employee	Jun. 30, 2019USD ($)employee	Jun. 30, 2020USD ($)employee	Jun. 30, 2019USD ($)employee
SUMMARY OF OPERATIONS
Net interest income (TE)	$ 1,025	$ 989	$ 2,014	$ 1,974
Noninterest income	692	622	1,169	1,158
Total revenue (TE)	1,717	1,611	3,183	3,132
Provision for credit losses	482	74	841	136
Depreciation and amortization expense	91	97	182	185
Other noninterest expense	922	922	1,762	1,797
Income (loss) from continuing operations before income taxes (TE)	222	518	398	1,014
Allocated income taxes and TE adjustments	37	95	68	185
INCOME (LOSS) FROM CONTINUING OPERATIONS	185	423	330	829
Income (loss) from discontinued operations, net of taxes	2	2	3	3
NET INCOME (LOSS)	187	425	333	832
Less: Net income (loss) attributable to noncontrolling interests	0	0	0	0
NET INCOME (LOSS) ATTRIBUTABLE TO KEY	187	425	333	832
AVERAGE BALANCES
Loans and leases	107,941	90,785	102,058	90,220
Total assets	164,099	142,635	155,164	141,385
Deposits	127,977	109,601	119,153	108,594
OTHER FINANCIAL DATA
Net loan charge-offs	$ 97	$ 65	$ 181	$ 129
Return on average allocated equity, continuing operations	4.21%	10.26%	3.80%	10.37%
Return on average allocated equity	4.25%	10.31%	3.84%	10.41%
Average full-time equivalent employees | employee	16,646	17,206	16,587	17,379
Operating Segments | Consumer Bank
SUMMARY OF OPERATIONS
Net interest income (TE)	$ 594	$ 594	$ 1,184	$ 1,185
Noninterest income	247	231	478	445
Total revenue (TE)	841	825	1,662	1,630
Provision for credit losses	167	40	307	85
Depreciation and amortization expense	20	25	41	48
Other noninterest expense	535	527	1,058	1,044
Income (loss) from continuing operations before income taxes (TE)	119	233	256	453
Allocated income taxes and TE adjustments	28	56	61	108
INCOME (LOSS) FROM CONTINUING OPERATIONS	91	177	195	345
Income (loss) from discontinued operations, net of taxes	0	0	0	0
NET INCOME (LOSS)	91	177	195	345
Less: Net income (loss) attributable to noncontrolling interests	0	0	0	0
NET INCOME (LOSS) ATTRIBUTABLE TO KEY	91	177	195	345
AVERAGE BALANCES
Loans and leases	39,197	31,881	37,197	31,603
Total assets	44,106	35,469	41,283	35,103
Deposits	79,502	72,303	76,411	71,798
OTHER FINANCIAL DATA
Net loan charge-offs	$ 39	$ 40	$ 83	$ 74
Return on average allocated equity, continuing operations	10.38%	21.75%	11.21%	21.51%
Return on average allocated equity	10.38%	21.75%	11.21%	21.51%
Average full-time equivalent employees | employee	8,863	9,440	8,885	9,531
Operating Segments | Commercial Bank
SUMMARY OF OPERATIONS
Net interest income (TE)	$ 442	$ 405	$ 852	$ 807
Noninterest income	405	355	624	654
Total revenue (TE)	847	760	1,476	1,461
Provision for credit losses	314	33	529	49
Depreciation and amortization expense	37	35	73	65
Other noninterest expense	366	354	681	697
Income (loss) from continuing operations before income taxes (TE)	130	338	193	650
Allocated income taxes and TE adjustments	10	61	3	123
INCOME (LOSS) FROM CONTINUING OPERATIONS	120	277	190	527
Income (loss) from discontinued operations, net of taxes	0	0	0	0
NET INCOME (LOSS)	120	277	190	527
Less: Net income (loss) attributable to noncontrolling interests	0	0	0	0
NET INCOME (LOSS) ATTRIBUTABLE TO KEY	120	277	190	527
AVERAGE BALANCES
Loans and leases	68,038	57,918	64,060	57,594
Total assets	76,974	65,901	73,178	65,390
Deposits	46,099	35,960	41,078	35,193
OTHER FINANCIAL DATA
Net loan charge-offs	$ 57	$ 23	$ 97	$ 53
Return on average allocated equity, continuing operations	10.00%	24.09%	8.03%	23.36%
Return on average allocated equity	10.00%	24.09%	8.03%	23.36%
Average full-time equivalent employees | employee	2,096	2,260	2,082	2,314
Other
SUMMARY OF OPERATIONS
Net interest income (TE)	$ (11)	$ (10)	$ (22)	$ (18)
Noninterest income	40	36	67	59
Total revenue (TE)	29	26	45	41
Provision for credit losses	1	1	5	2
Depreciation and amortization expense	34	37	68	72
Other noninterest expense	21	41	23	56
Income (loss) from continuing operations before income taxes (TE)	(27)	(53)	(51)	(89)
Allocated income taxes and TE adjustments	(1)	(22)	4	(46)
INCOME (LOSS) FROM CONTINUING OPERATIONS	(26)	(31)	(55)	(43)
Income (loss) from discontinued operations, net of taxes	2	2	3	3
NET INCOME (LOSS)	(24)	(29)	(52)	(40)
Less: Net income (loss) attributable to noncontrolling interests	0	0	0	0
NET INCOME (LOSS) ATTRIBUTABLE TO KEY	(24)	(29)	(52)	(40)
AVERAGE BALANCES
Loans and leases	706	986	801	1,023
Total assets	43,019	41,265	40,703	40,892
Deposits	2,376	1,338	1,664	1,603
OTHER FINANCIAL DATA
Net loan charge-offs	$ 1	$ 2	$ 1	$ 2
Return on average allocated equity, continuing operations	(1.12%)	(1.44%)	(1.20%)	(1.04%)
Return on average allocated equity	(1.03%)	(1.34%)	(1.14%)	(0.97%)
Average full-time equivalent employees | employee	5,687	5,506	5,620	5,534

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 321	$ 333	$ 629	$ 625
Noninterest income	692	622	1,169	1,158
Contract assets	0	0	0	0
Contract liabilities	0	0	0	0
Trust and investment services income
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	102	109	213	208
Investment banking and debt placement fees
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	60	65	107	110
Services charges on deposit accounts
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	68	83	152	166
Cards and payments income
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	89	72	153	135
Other noninterest income
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	2	4	4	6
Noninterest income	331	253	473	474
Operating Segments | Consumer Bank
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	164	196	352	374
Operating Segments | Consumer Bank | Trust and investment services income
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	87	92	179	176
Operating Segments | Consumer Bank | Investment banking and debt placement fees
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Operating Segments | Consumer Bank | Services charges on deposit accounts
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	38	56	94	111
Operating Segments | Consumer Bank | Cards and payments income
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	37	44	75	81
Operating Segments | Consumer Bank | Other noninterest income
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	2	4	4	6
Operating Segments | Commercial Bank
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	157	137	277	251
Operating Segments | Commercial Bank | Trust and investment services income
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	15	17	34	32
Operating Segments | Commercial Bank | Investment banking and debt placement fees
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	60	65	107	110
Operating Segments | Commercial Bank | Services charges on deposit accounts
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	30	27	58	55
Operating Segments | Commercial Bank | Cards and payments income
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	52	28	78	54
Operating Segments | Commercial Bank | Other noninterest income
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Other
Disaggregation of Revenue [Line Items]
Noninterest income	$ 40	$ 36	67	59
Segment Reconciling Items [Member]
Disaggregation of Revenue [Line Items]
Noninterest income			$ 1,169	$ 1,158

Uncategorized Items - key-63020

Label	Element	Value
Commercial Real Estate [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss	us-gaap_FinancingReceivableAllowanceForCreditLosses	$ 174,000,000
Consumer Credit Card [Member] | Consumer Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss	us-gaap_FinancingReceivableAllowanceForCreditLosses	82,000,000
Commercial Real Estate Commercial Mortgage [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss	us-gaap_FinancingReceivableAllowanceForCreditLosses	159,000,000
Real Estate Residential Mortgage [Member] | Consumer Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss	us-gaap_FinancingReceivableAllowanceForCreditLosses	$ 84,000,000